J. Philip's Briarcliff, Ossining & Westchester Real Estate Blog

When I first started my company in 2005, there were almost no single family homes in Westchester County priced below $500,000. Often, they'd be undesirable little shacks with 2 bedrooms and no yard. Not so today. As I type this, there are 319 single family homes  actively for sale in Westchester County under $400,000 with 3 or more bedrooms. They are all over the place too; north, south and central parts of the county all have inventory. I did a perfunctory search on the MLS ( Westchester Putnam Multiple Listing Service) this morning, and I saw 3 bedroom Westchester homes (not condos or co ops, but single family homes with yards) in Bedford, Cortlandt, Yorktown, White Plains, Elmsford, Ossining, Croton on Hudson, Yonkers, Mt Vernon, Port Chester, Peekskill, Mt Kisco, West Harrison, Sleepy Hollow and South Salem, just to start.

See for yourself. Log onto Listingbook for free and search the same MLS database I search and check out the inventory. Search by school district, zip code, town, and whatever other criteria you deem important. Thanks to Wikipedia Commons, I have posted the map below of Westchester County showing the municipal and school district boundaries. It gives a good approximation of lay of the land, and if you want to see a larger version click on Wikipedia Commons.  

I get asked every day if now is a good time to buy. It depends on your circumstances. Given the low rates, $8,000 tax credit, pricing and available inventory, buyers are in a better position now than they have been in many years. If you are on the fence, contact me with any questions you might have and we can weigh the pros and cons for your situation. In case you're wondering, I have indeed told people if I thought they weren't in a good position to buy.  

If you are thinking of moving to Westchester from elsewhere, as a native of "the 914" who spent 15 years in 5 other states, it is a wonderful place to live. Peruse my blog and check out my other posts on this county. All are welcome, even Met and Red Sox fans. 

 

• J. Philip Faranda, Broker-owner, J. Philip Real Estate, LLC. 2010 Vice President, Westchester-Putnam Multiple Listing Service. 
• Read my short sale blog here. 
• 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'm hiring agents. 
• Agents: Subscribe to the 40 Somethings Group. Reach Phil at (914) 723-8900.

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

After a mild autumn, a light snowfall has covered Westchester County. Like most of Westchester, Briarcliff is already quite pretty, so seeing it covered with snow adds to the beauty. We have friends in from out of town, so it is actually kind of idyllic. Kevin Crego, my old college roomie at Villanova just arrived (and apparently brought the snow from Rochester), and we've already had Mike Brophy since yesterday. 

Typical day with a friend from out of town- Mike rode shotgun with me this morning while I showed some clients co op apartments. 

Kevin taught me the real estate business and is Luke's godfather. Mike was the best man at my wedding and is godfather to Catherine. Both live far away, so visits like this are rare. Kevin runs a brokerage in Rochester, while Mike lives in Texas. The photo doesn't do the view justice- it as if everything outside were covered in crystal while we enjoy the warmth of catching up with dear friends indoors.

 

• J. Philip Faranda, Broker-owner, J. Philip Real Estate, LLC. 2010 Vice President, Westchester-Putnam Multiple Listing Service. 
• Read my short sale blog here. 
• 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'm hiring agents. 
• Agents: Subscribe to the 40 Somethings Group. Reach Phil at (914) 723-8900.

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

Happy Thanksgiving to all who read this. I hope the holidays bring you peace and abundance, and may 2010 be filled with health, happiness and prosperity. 2009 has been a challenge, and my experiences with many of you have made the year easier. For that I am truly thankful. 

 

• J. Philip Faranda, Broker-owner, J. Philip Real Estate, LLC. 2010 Vice President, Westchester-Putnam Multiple Listing Service. 
• Read my short sale blog here. 
• 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'm hiring agents. 
• Agents: Subscribe to the 40 Somethings Group. Reach Phil at (914) 723-8900.

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

Overlooking the Hudson River, Peekskill is the only city of all the municipalities in northern Westchester County. When I was growing up it was where you went to do to the Department of Motor Vehicles office and little else. Today it has a far more vibrant downtown with art galleries, cafes and shopping of all kinds. And the DMV is still there. 

I started my company in 2005, and the company's first closing was on a home in Peeksksill. I remain in touch with my clients. They have done great things to that house. Like many Manhattan dwellers, Peekskill appealed for the nearby Hudson Line train terminal, the vast array of pre war architecture, Hudson River views and the relatively affordable prices compared to much of Westchester. I continue to do business there. 

How has the market in Peekskill fared with the declining housing market? According the to data I have from the Westchester-Putnam Multiple Listing Service comparing the first quarter of 2008 for single home sales to quarter 1 of 2009, Peekskill's market is relatively stable. 

Prices were down about 16% but the transaction total was actually higher in 2009 than 2008 by one for single family homes. There are 69 single family homes actively available for sale in the city. 6 are under contract or pending sale; that is a low number, but at this rate the city has about a year's worth of inventory on the books. Not bad. 

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You can search the MLS like an agent at http://jphilip.listingbook.com.

J. Philip Faranda ranks among New York's premier short sale REALTORS specializing in short sales in Westchester, Rockland, Putnam & Dutchess Counties. www.NYShortSaleTeam.com. Read Phil's short sale blog at http://NewYorkShortSaleBlog.wordpress.com.

J. Philip Serves Briarcliff Manor, Ossining, Croton on Hudson, Pleasantville, Sleepy Hollow, White Plains, Yonkers, Peekskill, Cortlandt, Tarrytown, Yorktown, Montrose, Hawthorne, Thornwood, Valhalla, Hartsdale & all of Westchester County, New York.

 

• J. Philip Faranda, Broker-owner, J. Philip Real Estate, LLC. 2010 Vice President, Westchester-Putnam Multiple Listing Service. 
• Read my short sale blog here. 
• 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'm hiring agents. 
• Agents: Subscribe to the 40 Somethings Group. Reach Phil at (914) 723-8900.

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

Yorktown is a town in northern Westchester County that is very suburban in character. The housing is dominated by post baby boom ranches, splits and raised ranches in quiet subdivisions as well as larger colonials in the newer developments. It is served primarily by the Yorktown and Lakeland school districts, and it has abundant shopping and parks. The area has always been a popular place to land for southern Westchester and Bronx ex-patriots seeking more elbow room and a quieter lifestyle. Downtown Yorktown Heights is located at the intersections of routes 202 and 118 and is home to the Triangle shopping Center, the iconic Friendly's, and plenty of other commerce.

This data is for the Yorktown school district only and is taken from the Westchester-Putnam Multiple Listing Service. It compares the sales of single family homes from the first quarter of 2008 to the first quarter of 2009. I cut the data off at March 27 so the numbers would be consistent.

The numbers are down enormously. The number of sales is down 40%. The average sales price is also down 39%. Yorktown remains the place to go for mid-priced housing for sure, but it appears to be the poster child for the economic downturn. In 2008, the most expensive single family home sold was $2,000,000. In 2009, the high price maxed out at $529,000. When the maximum price one year is exceeded by the average price of the prior year, you know things have changed. Given the commensurate price drops in points of southern Westchester, it may not have been as compelling an option in 2009.

Given it's close proximity to my office, I have sold homes in Yorktown, and the biggest beef homeowners have is with the ever-rising property taxes. Commercial development is limited in Yorktown, and since commercial and business properties often defray residential taxes the powers that be may be looking into ways to attract more development in that sector.

You can't keep a good place down, however, and when the correction is over and the market adjusts new home buyers will return. It is just too nice a place to live for people to stay away.

 

• J. Philip Faranda, Broker-owner, J. Philip Real Estate, LLC. 2010 Vice President, Westchester-Putnam Multiple Listing Service. 
• Read my short sale blog here. 
• 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'm hiring agents. 
• Agents: Subscribe to the 40 Somethings Group. Reach Phil at (914) 723-8900.

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