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Larchmont, NY Real Estate News

By Ruthmarie Hicks
(Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605)
Tucked away right on the shore of the Long Island Sound, the Village of Larchmont is  a world away and just 35 minutes by train from the hustle and bustle of Manhattan. Larchmont is a  desirable  community and homes for sale in Larchmont sell very quickly – even in a slow market. In 2005 CNN/Money and Money Magazine ranked Larchmont 11th in their 100 best places to live survey. The village itself is located in the town of Mamaroneck and many homes with the Larchmont post office are actually located in the unincorporated area of the town of Mamaroneck.  The same holds for the school system with only one elementary school  (Chatsworth Ave.)  being located within the village of Larchmont. Prior to the turn of the century, Larchmont was something of a resort community for the wealthy of New...
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By Ruthmarie Hicks
(Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605)
Another Larchmont restaurant that is a real hot spot among the locals is the famous Larchmont Tavern.  The LT dates back to the Great Depression.  It opened in 1933 – at the height of the depression.  Today it is open 7 days a week for lunch and dinner. Located at 104 Chatsworth Ave., its central location makes it a draw for families and commuters a like.  It is practically across the street from Metro-North making it a convenient destination for commuters looking to grab a bite or a drink after work. The place is always packed and the reason for that is obvious.  The food is basic family fare – but done well and with excellent service.  Personally, I love their salads particularly the Spicy Southwestern.  No need to order extras – the salads are huge and there is always plenty for a s...
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By Ruthmarie Hicks
(Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605)
Larchmont restaurants are very popular places for the locals to gather.  Larchmont is very much a bedroom community – and after a long day in the city, many of the residents like to eat out.  One of my favorite places to eat in Larchmont is the famous Chat 19.  Chat 19 is one of a cohort of Westchester restaurants by Mario Fava – who saught to bring New York City to Westchester.   This is one of the most popular places to dine in Larchmont.  The place is generally packed and in the summer, the crowd spills over to the sidewalk for outdoor dining.  I particularly like eating outdoors.  Larchmont is charming and its a wonderful experience to watch the crowds on the street on a warm summer night.  Chat 19 is popular for a good reason:  the food is wonderful.  The cusine is American Grill....
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By Ruthmarie Hicks
(Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605)
Larchmont Property underwent a downturn over the past year.  Traditionally, this market had been quite resistant to recession forces however, the crash of 2008 brought prices down.  But while it brought prices down those lower prices brought out buyers – particularly in the single family home market.  Always desirable for its schools, easy commute and great location, Larchmont homes for sale are always in demand. Inventories are relatively low when compared to the rest of Westchester. Larchmont NY Cooperatives: At first glance, it appears as if cooperatives in Larchmont underwent a significant price increase over Q4 2008.  But that didn’t square with comperables in individual complexes. Looking closer, there was a descrepancy in the number of 1 BR vs. 2 BR units sold. So much so that i...
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By Ruthmarie Hicks
(Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605)
Larchmont seemed to be impervious to market forces.  Prices on single family homes kept climbing, national housing crisis notwithstanding.  And why not?  Larchmont is an easy commute to NYC (30 minutes).  It’s got wonderful shops with a nice village feel, fine dining, nice boutiques, terrific schools and established neighborhoods brimming with old-world charm.  Add Manor Park along the Long Island Sound to the mix  – the proximity of downtown White Plains and New Rochelle and you’ve got a winning combination.  But nothing can go up forever and the stock market crash has impacted the housing market. Cooperatives: Coops in Larchmont look as if they rose significantly in price.  But this flies in the face of experience and common sense.  The raw stats sighted below show a 33% price increa...
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By Ruthmarie Hicks
(Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605)
  Over the past few quarters, Larchmont had been seemingly impervious to the market gyrations that were impacting the rest of Westchester County with varying impact.  Like White Plains, it took the Wall Street crisis and the temporary freezing of the credit markets to shake things up. There are relatively few condos in Larchmont, so this discussion will be limited to cooperatives and single family homes.  In general, cooperatives fared reasonably well, but single-family home values took a significant hit. Cooperatives: Coops actually showed a slight increase in price when compared with Q1 of 2008.  The 2% increase is well within the normal oscillations - and so one could consider these prices as “stable.”  For coop buyers, Larchmont is a desirable location with many complexes located wi...
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By Maureen King
(Weichert, Realtors)
Whether buying a car,picking a stock, or purchasing a home, it's natural to want to get the the best value possible.  Yet when it comes to real estate, holding out for a slightly better deal can be costly. With many economists predicting the bottom of the market is near, the time to buy is now. It is impossible to know the exact moment the prices will be at thier very best.  The only way to really know when prices have hit bottom is after they start coming back up. If you were to buy a home today will it cost more or less a few years from now, not just in terms of sale price, but also mortgage.  While it's always possible conditions could improve further, it's more likely that we will see a drop in today' record high affordability and historically low interest rates. There has never bee...
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By Ruthmarie Hicks
(Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605)
Larchmont is one of the few areas that has, in some sectors, escaped the worst of the bear housing market - at least for the time being. Single family homes in Larchmont have been particularly resilient. Cooperatives have undergone a mild price correction, but compared to other parts of Westchester, Larchmont is on firmer footing. Cooperatives: Sales prices are down about 10% from the previous year with an average price coming in at $241,000. That’s down from the third quarter, but the small number of actual transactions makes drawing conclusions tricky. There’s about 6 months of inventory on the market, but the number of units sold is up from the previous year. Single Family Homes: This market had an average sales price that was 4% higher over the previous year. However, seasonal adju...
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By Michael Trinchitella, Putnam Westchester Real Estate
(Putnam, Westchester Real Estate)
Michael Trinchitella | RE/MAX Classic Realty | 914-403-4868 11 Alden Rd., Larchmont, NY Sought after Alden House co-op! 1BR/1BA Co-Op offered at $240,000 Year Built 1926 Sq Footage 850 Bedrooms 1 Bathrooms 1 full, 0 partial Floors 1 Parking Unspecified Lot Size Unspecified HOA/Maint $550 per month DESCRIPTION Sought After Alden House - Large 1 Bedroom, 1 Bath. Very bright unit w/courtyard views. Immaculate building w/very well maintained grounds. Recently painted, custom built cedar closets, hardwood floors throughout, updated bath, large eat-in-kitchen. Quiet, residential area. Close to Larchmont shops, restaurants, 10 min. walk to train station & 36 min. ride to NYC. Garage wait list, guaranteed overnight parking across street($50/mo) or easy street parking no fee or wait. MM is $550...
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