Contrary to what has been appearing in the newspapers recently, the real estate market in the Northern Westchester, Putnam and Dutchess markets has been active. Statistics posted on home sales in January showed a sales decrease of more then 14% compared to the previous January. What they newspapers failed to mention is that sales that closed in January are reflective of activity that took place in October-November. If you recall, that stock market had gone off the deep end and we were in the middle of an election. If you follow that up with the tradition slow month of December it's no wonder sales were down.
Believe it or not, we are seeing multiple offers again. No, I'm not kidding. Buyers are out and making decisions. Homes priced anywhere below market are receiving offers quickly. Homes that are fairly priced are receiving fair offers. There was one house that came on the market recently that I thought was priced below market and it received more then 25 offers.
What do you do? Now is the time to buy. I'm actually moving up into a larger home myself. I'm practicing what I preach. Interest rates are hovering at an incredible 5% rate. With prices coming down over the last year you can buy much more house and even have lower payments. Last year a $100,000 mortgage cost about $665 per month compared to $536 now. Between the reduced price for the home and the lower mortgage cost the home I'm buying will be costing me about $1,000 less per month.
If you find a home you like, make an offer. Homes that are fairly priced are receiving fair offers. Yes, there are many that are still living in the past and there homes are way overpriced. You can buy one of these too, but your offer has to reflect today's value. If the seller won't negotiate, move on. The main thing is don't wait to make an offer. The house you like could sell before you make an offer. The next one you find could cost more.
Don
Please feel free to browse this site to find homes for sale in Westchester, Putnam and Dutchess Counties in New York. See a home you like, please feel free to contact me, I'd be glad to provide more information or show you the property. Use the Search MLS button above to search the MLS where you can save listings, create custom searches and alerts for new homes on the market.
PutnamCounty real estate and real estate in surrounding counties of Westchester and Dutchess have been desirable for a long time because of their close proximity to New York City.
WestchesterCounty homes are quite varied and range from densely populated areas of southern Westchester, beautiful waterfront homes along Long Island Sound to sprawling country estates in areas of Bedford and North Salem. Homes in Southern Westchester County can be as close as 30 minutes to Manhattan by train. Growing up in the Larchmont-Mamaroneck area I remember watching all the men in suits wearing hats walking to the train station in the morning to head into NYC. Waterfront homes in Westchester County command a premium as elsewhere in the works and those on Long Island Sound in Larchmont, Mamaroneck and Rye can be quite expensive, but offer a unique lifestyle. New construction in Westchester County is in demand, but frequently out of the price range of many. North Salem and Bedford equestrian properties as well as horse properties throughout Westchester County are always in demand. They all contribute to the varied Westchester real estate market.
Putnam County homes are prized for not only their easy access to Manhattan, but for the ability to get a larger home on more property then would be available in Westchester County for the same price. Real estate in PutnamCounty is also in demand because PutnamCounty typically has among the lowest crime rates and unemployment rates in the country. It also has the highest median income in New YorkState and was last ranked as number nine in the US.Although small in size, PutnamCounty has thousands of acres of park land and as it is home to many New York City reservoirs and streams, there are water views in abundance. PutnamCounty real estate that enjoys water views commands a premium as water view property does elsewhere. Waterfront property is available on both motorboat and non motorboat lakes. There are both public and private golf courses in Brewster, Carmel, Mahopac and Garrison as well as a Thunder Ridge Ski Area located in Patterson. Putnam County is bordered on the west by the Hudson River and on the east by Connecticut. As with other areas around the world, waterfront properties in Putnam County also command a premium and lakefront property is always in demand. New Construction in Putnam is still available. For those that commute via Metro North, homes in the Brewster area offer access to two train stations with over 1,700 parking spaces.
Dutchess County real estate is varied and includes a host of options in new construction, weekend properties, large farms and estates as well as some downtown city living. Currently, new construction in DutchessCounty runs from $249k to $3,650,000. DutchessCounty horse properties and farms are available and one currently sold by my office had over 1,000 acres. Several of the more popular areas for weekend homes Millbrook, Pawling, Clinton Corners and Rhinebeck. DutchessCounty is frequently the next stop up for those who would like to buy further south, but can't find the home they are looking for in a certain price range. Commuters to Manhattan are less likely to be found in Dutchess as they would be in Westchester or Putnam. A major employer in the area is the Hudson Valley Technology Center in Fishkill.
For more information on the current real estate market or anything mentioned here, please feel free to give me a call or drop me a note. Don Mituzas
Areas I specialize in include Westchester, Putnam and Dutchess Counties and the towns of Brewster, Southeast, Carmel, Patterson, North Salem, Pawling, Millbrook and surrounding areas. I can help you with new construction, waterfront homes, neighborhood information, second homes, weekend homes and getaways, trade up or down buying and selling. My area includes many wonderful neighborhoods as well as rural home sites, many of which have water views. Use the Search MLS link above to search for Westchester, Putnam & Dutchess County homes.
