White Plains, NY Real Estate News

By Ruthmarie Hicks
(Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605)
  Following the stock market crash of 2008, home prices in White Plains finally took a hit.  This market had remained remarkably sturdy up to the fourth quarter of 2008.  The correction has been an abrupt one.  The third quarter market reports reflect a market that is experiencing a major correction.  The declines are steady but not alarming.  This is the first time that White Plains has have every single factor in buyer’s market territory. White Plains Cooperatives: The average price of a cooperative in White Plains has decreased to $181,000 – down $36,000 or near 17% from Q3 of 2008.  Sales volume was also down 38.5%.  Although sales picked up over the summer months inventories remain in excess of 12 months.  This is an excellent buying opportunity and sellers need to be realistic whe...
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By Kevin O'Shea, White Plains, NY Real Estate
(Coldwell Banker)
Search Criteria Property Type  Single Family     City/Town  White PlainsArea  Area 4 School District  White Plains Statuses  Active, Conditional Contract, Pending, Sold (7/1/2009 to 9/30/2009) Price  1,000 to 9,999,000       Listings per Status    Minimum, Average, Maximum    Days On Market Analysis    Listing Price\Selling Price       © Copyright 2009 Westchester-Putnam MLS, Inc. - Data believed accurate but not warranted. All data subject to verification. Generated: 10/02/09 2:01pm
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By Ruthmarie Hicks
(Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605)
The White Plains housing market finally to its hit when the stock market crashed in late 2008.  Until that time, the White Plains market - along with much of lower Westchester had resisted the declines that had occurred in other parts of the country.   Prices dropped sharply and as credit markets froze up, sales volume dropped to a trickle by the end of Q4 2008.  The winter was long and harsh as sales volume continued to stay low.  This was mostly  due to the tighter lending standards and a general reluctance to buy for those who actually had the credit to do so. Buyer interest started to increase at the beginning of the 2nd quarter as lower prices and the stimulus package pulled buyers off the fence.  Towards the end of the quarter there were many more contracts and pendings.  The ques...
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By Kevin O'Shea, White Plains, NY Real Estate
(Coldwell Banker)
Market Statistics Report Listings as of 06/04/09 at 4:17pm Property Type  Single Family    Area  Area 4 School District  White Plains Statuses  Active, Conditional Contract (5/1/2009 to 6/1/2009) , Pending (5/1/2009 to 6/1/2009) , Sold (5/1/2009 to 6/1/2009) Price  1,000 to 10,000,000           Single Family            2- Bedrooms          3 Bedrooms          4 Bedrooms          5+ Bedrooms          All Bedrooms          Active     #Units 3 62 56 36 157       Average List Price $565,967 $626,388 $916,466 $1,137,586 $845,918       Average Market Time 30 127 102 99 110       Average Square Feet 1460 1962 2878 3710 2680            All Off Market     #Units 3 9 6 3 21            Pending     #Units 2 4 3 0 9       Average List Price $625,000 $716,725 $838,000 $0 $736,767       Average Marke...
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By Ruthmarie Hicks
(Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605)
Things to do and see in Westchester, White Plains It was a great day in the Hudson Valley - after all the rain we’ve had recently,  it was wonderful to be outside on a warm and SUNNY day.  White Plains has always been know for its shopping and more recently fine dining.  High-end housing in high rise luxury buildings is also something that White Plains is famous for.  But it has lagged behind in the arts.  Yes, we have our own theater, the Westchester Philharmonic under the baton of Itzhak Perlman  calls White Plains its “home.”  But only now is White Plains getting itself on the map - so to speak - as go-to place for the arts.  But on this weekend the artisans were out in force. Downtown White Plains was certainly the go-to place for the arts this weekend. The White Plains Outdoor Arts...
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By Ruthmarie Hicks
(Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605)
  These days when New Yorkers think of White Plains NY, they think of high-rise luxury living at the Ritz Carlton or Trump Tower. However, White Plains has a softer more residential side concentrated at the southern end of the city. The dichotomy between the residential and urban ends of the city is actually quite politically charged. Locals often describe these conflicts as “north end” vs. “south end.” 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 n...
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By Ruthmarie Hicks
(Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605)
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. Even before the crash, single family homes had started to decline in price. But Coop and condo sales remained stubbornly high. The only major sign of trouble was decreased sales volume, but as long as inventories remained low - with few people selling - higher prices were still tolerated. Cooperatives: The average price of cooperatives fell 10.9% over the previous year with an average price of $220,000. The fall in prices reflects a general weakness in sales volume combined with increased inventory. There ar...
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By Ruthmarie Hicks
(Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605)
April 2nd, 2009 by Ruthmarie Hicks Categories: Building/Planning, White Plains No Comments » Homeowners in New York are up in arms over property taxes. For those who don’t know the region, New Yorkers enjoy just about the highest property tax rate in the country. Westchester has some of the highest taxes in the state - so you get the picture…..In some areas of Westchester, the taxes actually exceed assessed values. Recently, Cut Property Taxes NOW rally signs have appeared around the city of White Plains. They are dotting the lawns of beleagured homeowners fed up with what seems like the unending tax hikes that show no signs of abatement. Right now the center of their wrath is on County taxes. However, many are pointing fingers at local taxes and school taxes. It was just a few years ag...
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By J. Philip Faranda, Broker-Owner
(J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY)
White Plains is the county seat of Westchester and is, in many ways, the hub of commerce for the area as well. It is home to the county government offices, numerous malls, the local Westchester Board of REALTORS, and some fantastic food and libation along Mamaroneck Avenue.  You don't go to White Plains to hide- you go there to get things done. It is a great commuting point with appealing neighborhoods and proximity to everything. There are many co ops and condominiums near downtown. The mix works. There is very little not to like about White Plains. This data is for the city of White Plains only and is taken from the Westchester-Putnam Multiple Listing Service. It compares the sales of single family homes from the first quarter of 2006 , 2007, 2008 and 2009. I cut the data off at March...
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By Lou Budetti
(ERA Insite Realty)
As part of the "Housing and Economic Recovery Act of 2008" that was recently signed into law, Congress has created a new, temporary federal income tax credit to provide an incentive for first-time homebuyers. This program affects first-time homebuyers who have purchased any single-family home between April 9, 2008 through July 1, 2009.
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By J. Philip Faranda, Broker-Owner
(J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY)
Here in New York attorneys are an integral part of the transaction process. The following occurred this past Monday on a home I listed where an old deal resurfaced from when the home was listed with a prior agent. I got a call from the attorney's office of the purchaser of my listing. I was told told that if I could deliver copies of some papers needed that they would give me their deposit check for my client's attorney to deposit. Due to the fact that this was a transaction that had been canceled by each party once and subsequently reinstated, we would then be able to close as soon as the check cleared. Naturally, I stopped what I was doing and headed straight for White Plains. Trump and Iacocca could wait. Upon meeting the buyer's attorney I was pleased to meet a paralegal who struck ...
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By Ruthmarie Hicks
(Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605)
Although we are in the middle of a major housing market correction, many buyers are still in despair over housing prices in Westchester. They hear tales of prices dropping 40-50% in parts of Florida, California and several other former housing hot spots. Earlier, I wrote a blog about the “angry buyer.” Many (but certainly not my buyers) are circling like vultures clinging to the idea that if they are just patient, they can swoop in and steal a house from a desperate seller while he is on his way to bankruptcy court. They want their crash – and they want it bad! Many have been waiting on the sidelines for years hoping that Westchester would have a magic correction of 40-50%. Although we are in a full blown buyer’s market, many buyers who don’t pull the trigger may well be disappointed i...
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By Ruthmarie Hicks
(Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605)
Happy Holiday's  to all my readers and friends on Active Rain!Here are a few pictures from one of my favorite haunts of Christmas and the holidays in general...Carlson's of White Plains.  It's been a tough year all around for everyone. So....I thought some of these photos would put everyone in the holiday mood - so without further ado  - I'm posting them here. You can visit Carlson's any time of year - they have wonderful displays for all seasons. Carlson's Floral and Gift 625 Dobbs Ferry Rd, Route 100BWhite Plains, NY 10607 I will be announcing my new blog very shortly..probably before the New Years....       To Search for Homes and for further information go to my website/blog with free home search at The Westchester View.  I am always happy to answer your questions and you can speak ...
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By Kevin O'Shea, White Plains, NY Real Estate
(Coldwell Banker)
Just for fun I googled my first name and White Plains, the town where I have worked in Real Estate for 25 years. It was fun to see my name first. Because I was Realtor of the Year in 2005? No. Because I have been in the business for 25 years? No. Because I have been volunteering on The Westchester County Board of Realtors for more than 20 years, been Vice President and am currently VP for the Westchester Putnam MLS? No. Because I have spent time on Active Rain meeting, teaching and learning? My first name is number one on Google in my town because of Active Rain. Active Rain - to be the First name in Real Estate! Another reason to love this place. All the best!
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Having just sold a terrific arts and crafts colonial in Gedney Farms in White Plains I thought it would be interesting to see what the market is doing in that community.  129 single family homes on the market in White Plains with prices that range         $384,000 to $2,497,285;Average price for homes on the market is $967,643The median price is $699,999The average days on the market for active listings is 114There are 16 houses that have conditional contracts and       there are 9 houses that are in pending status During the month of October 11 houses sold with prices ranging from         $350,000 to $1,400,000Average days on the market for sold houses was 167Average price for sold homes was $851,182The median price for sold homes was $745,000 SOLD during the month of October          ...
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By Kevin O'Shea, White Plains, NY Real Estate
(Coldwell Banker)
Kevin F. O'Shea | Homes of Westchester, Inc. | kevrltr@aol.com | 914.328.0821 23 Old Mamaroneck Rd., White Plains,, NY Great Views from this well priced lower level 1 Bedroom, updated Kit and walk to all. 1BR/1BA Co-Op offered at $119,000 Year Built 1928 Sq Footage 650 Bedrooms 1 Bathrooms 1 full, 0 partial Floors 1 Parking None Lot Size Unspecified HOA/Maint $595 per month DESCRIPTION Great Bright 1 BR completely above ground, yet on lower level. This is presently rented so it could continue as an investment unit. see additional photos below PROPERTY FEATURES Central heat Living room Refrigerator Stove/Oven COMMUNITY FEATURES Elevator OTHER SPECIAL FEATURES One of the best priced in White Plains ADDITIONAL PHOTOS Seller contact info: Kevin F. O'Shea Homes of Westchester, Inc. kevrltr@...
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By Westchester Real Estate #1 Listing Sales Agent Mike Luchen
(Coldwell Banker Residential Brokerage)
http://www.wptimes.com/editorial.php?viewspecific=1&storyid=2325 - See the full White Plains Times Article Here! Right Time to Buy or Sell? Always! By: Rock Stamberg Published: September 18, 2008 Coldwell Banker Residential Brokerage realtor Mike Luchen's perspective on the White Plains market for single-family homes as they relate to Westchester in general is that the market is "unbelievable across the board," he said in a recent interview. "Manhattan's gotten so expensive and White Plains is going to get even more expensive," he added. Asked how the market is in White Plains for sellers-a question that came up repeatedly at a recent Council of Neighborhood Associations meeting-Luchen pulls no punches: "The market's going to do great even though homeowners are scared and there is a lot...
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By Kevin O'Shea, White Plains, NY Real Estate
(Coldwell Banker)
This property is no longer available through our office. Pleas call 914.262.1931 for information on commercial properties in the area.
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By Kevin O'Shea, White Plains, NY Real Estate
(Coldwell Banker)
 Bedrooms  Bathrooms  Square Feet  List Price  Selling Price  Days on Market  Minimum  2   0.00   1,008   $325,000   $315,000   51   Average  4   0.00   2,463   $806,037   $779,025   137   Median  4   3.00   2,405   $869,000   $844,500    106   Maximum  6   0.00   4,627   $1,189,000   $1,088,000   348   Total Dollar Value           $18,696,599      Average DOM Breakdown and Average % of List Price received on Solds by Market time:    0-30 Days   31-60 Days   61-90 Days   91-120 Days   120+ Days   No. of Listings   0    2    4    8    10   Breakdown %   0.00    8.33    16.67    33.33    41.67   Avg SP % LP   0.00   103.46   100.23    96.08    94.60    These are all the sold homes through the Westchester Putnam Multiple Listing Service. Sold homes in the White Plains School District. If ...
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By Ruthmarie Hicks
(Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605)
Although I hate to admit it, I’ve become somewhat fascinated by the Ritz Carlton.  I’m not generally a fan of modern architecture. My personal taste leans more to the art nouveau look of the Bar Building which stands in ornate contrast to the sleek towers.  But one thing I have noticed about the two 42 story towers gracing our downtown is that they never look the same. Like a chameleon that changes its coloring to blend into its surroundings, the mirrored façade of the Ritz is constantly changing to reflect the “mood” of the sky at any given moment – changing constantly as the day progresses from dawn to dusk.  You can look at it a thousand times and it will always appear different.  The façade changes with the time of year, the time of day, the cloud cover, the humidity etc. Today I sa...
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