J. Philip's Westchester Real Estate Blog

This is the market activity for Peekskill in June of 2010. All information is sourced from the Westchester-Putnam MLS. I have blogged about Peekskill extensively before. 

Unlike the May of 2009 and 2010 comparison, prices and transaction totals are up, from a median price in June of 2009 of $237,500 to a more robust $304,750 in June 2010. There were 8 transaction in June this year, up from only 6 last June, and 9 homes are currently under contract. 64 homes are actively for sale.

64 active listings is about 8-10 months worth of inventory, not an outrageous amount but certainly plenty to choose from. Prices, while up, are at their lowest here since 2003. If you like the river towns and fancy pre war architecture, you'll like Peekskill. Now is a god time to buy real estate in Peekskill. Get yourself a free Listingbook account and check out homes for sale in Peekskill. 

• We Are Westchester County, NY Real Estate. Reach Phil at (914) 723-8900.
• J. Philip Faranda, Broker-owner, J. Philip Real Estate, LLC. 2010 Vice President, Westchester-Putnam Multiple Listing Service. 
• I am one of New York's premier short sale REALTORS. 
• J. Philip Serves Briarcliff Manor, Ossining, Croton, the River Towns, Westchester County, and the bedroom counties of New York City.
• Free MLS Search! Register for a Free Listingbook account and search the MLS like an agent. 
• I am hiring agents. 

All content/images, unless noted, are the property of J. Philip Faranda & may not be used without permission

Peekskill is one of the older River towns in Westchester County. I have blogged about Peekskill before, and I have done quite a bit of business there. It is by far the northernmost city in Westchester county, and in addition to being affordable, the quality of life there seems to improve by the week. This is the market data for May of 2010 for single family homes in Peekskill, and all information is sourced from the Westchester-Putnam MLS.

Prices are down quite a bit here, from a median price in May of 2009 of $440,500 to a mere $255,000. There were only 2 transaction in each month, which might not be considered a representative sample, but there are also 16 homes under contract and their median asking price is $297,000. 63 homes are actively for sale.

The last year that the median price in Peekskill was below $300,000 was 2003. Now is a god time to buy real estate in Peekskill. Get yourself a free Listingbook account and check out homes for sale in Peekskill. 

• We Are Westchester County, NY Real Estate. Reach Phil at (914) 723-8900.
• J. Philip Faranda, Broker-owner, J. Philip Real Estate, LLC. 2010 Vice President, Westchester-Putnam Multiple Listing Service. 
• I am one of New York's premier short sale REALTORS. 
• J. Philip Serves Briarcliff Manor, Ossining, Croton, the River Towns, Westchester County, and the bedroom counties of New York City.
• Free MLS Search! Register for a Free Listingbook account and search the MLS like an agent. 
• I am hiring agents. 

All content/images, unless noted, are the property of J. Philip Faranda & may not be used without permission

We just got word that one of our short sale transactions in Peekskill, NY was approved. This comes just one day after we listed another one for sale across town! 

On the approved sale, we had multiple offers. The one sent to the bank was less than 2% short of a full price bid, and it should close in the next 2 weeks. The property was put under contract on December 18, 2009, so the approval only took about 45 days. In the short sale world, that is lightning speed. I hope this is a sign of things to come in the field. Long approvals are rough on everyone, especially the sellers, who have their own share of stress. This will be our second sale in this subdivision, which should give us more visibility for other nearby prospective sellers.

On the new short sale, we have listed a fantastic 3 bedroom brick ranch right across the street from Depew Park. If you are a Jets fan, you'll recognize that name: it was the pre season practice field of the Titans/Jets in their AFL days from 1960-1969. The house therefore has a very quiet setting, abutting pastoral woods and a field on 2 sides. It has a large, detached 2 car garage and a full basement. The kitchen and baths are updated and it is in move in condition with shiny hardwoods and a fireplace.  

It is listed at $299,900. I consider it one of the better buys in Peekskill. Come see for yourself. If you like it we'll work on a fast approval. The great thing about short sales is that they aren't priced to chase the market, they are the market. 

• We Are Westchester County, NY Real Estate. Reach Phil at (914) 723-8900.
• J. Philip Faranda, Broker-owner, J. Philip Real Estate, LLC. 2010 Vice President, Westchester-Putnam Multiple Listing Service. 
• I am one of New York's premier short sale REALTORS. 
• J. Philip Serves Briarcliff Manor, Ossining, Croton, the River Towns, Westchester County, and the bedroom counties of New York City.
• Free MLS Search! Register for a Free Listingbook account and search the MLS like an agent. 
• I am hiring agents. 

All content/images, unless noted, are the property of J. Philip Faranda & may not be used without permission

What do George Pataki and Mel Gibson have in common? Peekskill, NY. Gibson was born here, and Pataki was once the mayor. 

I have blogged about Peekskill's market activity previously. We are talking about a historic river town with a lot of charm for those who dig pre war architecture. The place is teeming with activity and forward movement. Many of the old buildings have been restored, and the once dreary downtown is an eclectic mix of Bohemia and commerce. One thing that struck me when I was taking photos the other day was how many people and cars got in the way of my getting a clear snapshot. Then it struck me. That is the picture. 

The history goes back to the pre colonial era when the place was a valuable riverfront trading spot. Named for Jan Peeck's Creek, ("kil" is dutch for stream), Both Washington and Lincoln spent time here. While the colonial army was here before moving to West Point, Lincoln's time was brief; just a short train stop which was memorialized by a half-forgotten statue about a block from the current train station. I only mean half- it is maintained, but fenced off and hard to get a good look without a zoom lens.  

Being a river town, the view of the river is breathtaking whether you are up the hill or down by the station. It was an apt setting for the 9-11 memorial. That day did not leave the city unscathed.  

The architecture of the place is especially attractive if you like classic old buildings. I happen to love them. 

OK- so I guess you sort of get that I like the photos I took of the place.

Here's the snapshot of 2009 market activity.

In all, 65 single family homes sold in the city this past year. The median price was $305,000, down from the peak of $368,000 in 2005. That year, 137 homes were sold. That represents an 18% decline in prices from the height of the market, which is in line with the region. This makes Peekskill, on top of everything else I've gushed about, something else- affordable. 

• We Are Westchester County, NY Real Estate. Reach Phil at (914) 723-8900.
• J. Philip Faranda, Broker-owner, J. Philip Real Estate, LLC. 2010 Vice President, Westchester-Putnam Multiple Listing Service. 
• I am one of New York's premier short sale REALTORS. 
• J. Philip Serves Briarcliff Manor, Ossining, Croton, the River Towns, Westchester County, and the bedroom counties of New York City.
• Free MLS Search! Register for a Free Listingbook account and search the MLS like an agent. 
• I am hiring agents. 

All content/images, unless noted, are the property of J. Philip Faranda & may not be used without permission

Peekskill, NY now has a wonderful Dog Park! Opened October 31, 2009, the project was started by Peekskill homeowner (and dog owner) Michael Sellers, who devoted a year and a half to getting the city to dedicate unused park land to the project. The park now has a board of directors, a terrific website with plenty of pictures, and 50 visitors a week. It has also made the local news several times, including Journal News coverage of a visit from Santa Claus just 10 days ago (and you thought he just dug reindeer). You can read the story by clicking on the link on the park website.  

To take underused parkland and transform it into a place where people and enjoy themselves and build a community is a special undertaking, but then again, you have to know Mr. Sellers like I know him. I sold him his house in Peekskill 3 years ago. As fortunate as he told me he feels about putting down roots in Peekskill, I say that the city got the better part of the deal when it landed Michael Sellers. Hats off to my client and friend. 

My dog Max would approve!

• We Are Westchester County, NY Real Estate. Reach Phil at (914) 723-8900.
• J. Philip Faranda, Broker-owner, J. Philip Real Estate, LLC. 2010 Vice President, Westchester-Putnam Multiple Listing Service. 
• I am one of New York's premier short sale REALTORS. 
• J. Philip Serves Briarcliff Manor, Ossining, Croton, the River Towns, Westchester County, and the bedroom counties of New York City.
• Free MLS Search! Register for a Free Listingbook account and search the MLS like an agent. 
• I am hiring agents. 

All content/images, unless noted, are the property of J. Philip Faranda & may not be used without permission