Informative Info in the Mamaroneck, Larchmont, Harrison, Rye, & New Rochelle, N. Y. area by Gay E. Rosen, ABR, CBR, CDPE, CRS, GRI, SRES, Licensed Real Estate Associate Broker, Julia B. Fee Sotheby's International Realty, Larchmont, N.Y. 10538, 914.907.2645 (Cell), http://www.gayrosen.com, email@example.com (email)
While I have lived in New Rochelle for over 38 years, I am privileged to represent clients in the lower Westchester area, and so I actually cover Larchmont, Mamaroneck, Rye, Scarsdale, Pelham, and Bronxville.
In covering the different areas, has given me a better perspective of what is happening in each area on a first hand basis, and I would like to feel it better serves my clients. For example, the market has been softer in Larchmont with fewer sales to-date (2017 in Mamaroneck compared to 278 of 2016), and then we have the lesser
priced homes in New Rochelle selling very quickly with multiple bidding. Each town and city experienced successes and some resistance in different price points as detailed in my reports. I have a link to the Rye and Larchmont Newsletter in the column left!
The Waterfront homes are still slower to sell, or rather when the home owners are more realistic to pricing, then there is movement! Staying in tune with the market trends, and what the home buyers are willing to pay are going hand in hand with success and sales. High taxes are one reason some of the higher priced homes are requiring a market adjustment.
While we all know that real estate is always local, it should be noted that Nationwide, more luxury homes have been sold this year perhaps because there are more to choose from, and prices have come down accordingly. On the whole, per the NAR (National Association of Realtors), sales were down 1.7%, and pending home sales sank to 2.6% in August.
Potential buyers are very savvy when it comes to choosing the area in which they wish to live. After all, it has been noted that the Millennials could be worth 24 Trillion by the year 2020, and while they are still savvy enough to use an agent (92% of the discerning buyers!!), they will still pay for value.
Buyers are seeking renovated homes or homes that have been updated such as newer kitchens, and basements. They are not afraid to wait for that price reduction should they feel a home is over priced based on market conditions. They are educated, internet driven, value oriented and aware.
That value would include close proximity to the city which has always been desirable, and today’s buyers are seeking lesser property taxes too. They might opt for the smaller home where good school stats abound over larger homes, and I am seeing a trend for larger properties. People leaving the city want land! However, they aren’t seeking further travel to home and work places. One of the reasons I feel the home sales have dropped slightly this year in the Larchmont area as an example has been the increase in property taxes.
However, Westchester is always desirable, and an interesting factor is the mortgage tax. Non existent in Connecticut, but far less in Westchester than the city. As an example, on a $1.5 Million dollar home, it is zero in Connecticut, $12,570 in Westchester and $23,070.00 in the city.
Buyers are discerning, they are fact driven, but ultimately they are seeking a home that ‘speaks’ to them, and in Westchester, we have much to talk about!
I would also be very remiss if I didn’t mention the new developments in New Rochelle. Please see my blog regarding same.
As an aside, I am so excited at working in the Larchmont Julia B. Fee Sotheby’s office – and why not? Did you know that Sotheby’s is the most recognized brand in the world? It represents luxury (and luxury is a level of service NOT a price point), knowledge (we are the market experts -obtaining the highest price for our clients), it represents trust (we are the most trusted residential real estate brand), and did you know that there are approximately, 21,000 sales associates in the Sotheby’s International luxury real estate network, 900 offices , covering 68 countries and territories!
I hope you will find the information in this newsletter interesting and worthy of reading! My goal is always to provide accurate information to better assist in your home search or home sale. I am here to help!
Life can be hectic, and real estate can show the best and worse in people as there is always so much pressure. I have wonderful clients, great associates, and sometimes it is just feels GOOD to show one’s appreciation for all. Scrambled eggs, bacon, sausage from the Butcher’s Fancy (Irish sausages- they are great!), tomatoes, croissants, home made granola with fresh fruit and yoghurt, blueberry and almond coffee cake, orange juice and coffee.. Westchester is GREAT!
Whenever I see anyone I know on the street, store, restaurant, I am always asked about the real estate market. Years ago, I was always told to say to everyone “wonderful”. I never did that, and would rather offer honest up to date information. Such is the case now with the Rye and Larchmont real estate market news. Here it is!!! I have broken down the different areas in different price points to better assist those different price points and different clientele.
A wonderful annual tradition, New Rochelle’s “Paine to Pain Half Marathon” organized by the New Ro Runners. Aptly named as Thomas Paine used to live in New Rochelle, and there is both an avenue and a museum and cottage named after him! Yes, New Rochelle is rich in history! Not for the feint of heart as the trail is tough, but everyone of the 700+ runners were all winners today for the 10th Annual race. There was a descendant of Thomas Paine who raced, a blind racer (yet undaunted and so admired), so many wonderful racers who faced a little rain to participate this morning. There were 5 ‘waves’ depending upon capability – but ALL were so capable. Eric Turkewitz, the race founder was on hand, the many volunteers of course and other race directors, along with the Mayor of New Rochelle, the Fife and Drum corp of Paine Cottage and Museum ( I just gave them that title not knowing how to address them so please forgive me!) … A wonderful Thomas Paine quote was shared this morning by one of the officials ” That which we attain too cheap, we esteem too lightly.” I can truly say that every runner today was held in high esteem by all! New Rochelle is GREAT!
I recently had lunch at the North End Tavern (located at 1301 North Avenue). While my sons have frequented the tavern, I hadn’t gone there and had no idea what to expect. It is advertised as a sports bar, and there are certainly large sized screens around the bar and in the dining area. There is also a semi-private room that can be booked for large gatherings if desired.
I was so pleasantly surprised! I was truly expecting tavern (bar) fare, and my fish and sweet potato chips were delicious. The fish was crisp, moist, and the sweet potato fries were not greasy at all.
I will definitely be returning as the menu looks quite interesting and the food was served beautifully.
The tavern is open 12-9 p.m. Monday to Thursday, 12-11 p.m. on Friday and Saturday, and 12 to 9 p.m. on Sundays. The phone number is 914 633-3224.
If you have ever frequented one of the beach clubs that are situated along Davenport Road, then you will have surely noticed Davenport Park. 20 tranquil acres, and featuring a Shakespeare garden and accommodates seasonal sled riding! Perfect! A valid omnicard is required.
There are also some very special trees within the park. Thirteen trees were planted by the George Washington Bicentennial Commission of New Rochelle in honor of the Thirteen Colonies of the United States of America on May 5th, 1932.
It is always an exciting event, and even if you aren’t racing, there is always such an excitement surrounding this great event. The race starts by Paine Avenue at 9 am on Sunday, October 8th. See you there!