Much of Scarsdale is in full blown buyer's market mode. In single family homes, the price drops and inventory issues have been extremely severe. The cooperative market has held up much better. The weakness in single family homes is in part a reflection of the stressed jumbo loan market.
Gedney Farms is one of the premier high-end single-family neighborhoods at the southern tip of the city. The lots are large - generally over over a third of an acre. The homes are elegant and graceful with many striking pre-war Tudors and Colonials gracing the winding streets. Dominating the scene are golf course views enjoyed by many residents - courtesy of the Ridgeway Golf Club. The neighborhood of Gedney Farms was rocked by the news that the golf course views that are such a dominating feature of the neighborhood might be a mere memory in a few years.
The buyers market that we are seeing in most parts of Westchester is also in force in Hartsdale NY. Inventories are high while sales remain slow. However, interest in buying has picked up and there are those who say that prices are near their bottoms.
White Plains real estate defied gravity for three years. For a while - quite a while - it looked as if the housing recession would pass White Plains by with nary a flicker in the prices. The stock market crash on Wall Street shook the system up and prices have started to come down.
For those looking for an easy commute and extra elbow room at a great price, this coop should be on top of your list of "must-sees."
The unit itself is a large 2 BR unit with 1080 s.f. It has high cove ceilings and newly refinished hard-wood floors. The kitchen and bath are updated and the kitchen contains new stainless steel appliances. Bright and airy with excellent view of E. Hartsdale Ave. the unit offers tremendous value for the price.