Westchester County NY REsource

Welcome to the number one real estate source for Westchester County NY!

Yes...those capital letters in resource is not a mistake.

RE equals real estate =)

It is no secret that my love for this area stems from growing up here during my early childhood. However, what I find even more amazing is how the Westchester County real estate market has grown within the past two years. Being in the thick of all these transactions has been fun but I am a “numbers guy”.

Although I hated statistics in college, I love studying real estate and analyzing even the basic statistics. It really sheds light on what has been going on lately. I guess my professor was right … NUMBERS DON’T LIE! 

Nonetheless, Westchester County NY real estate is unlike any other market. We have the highest property taxes in the country and the bubble that burst in the past decade did not hit us as hard as other states and markets.

If you would like to learn more about real estate in Westchester County NY or anywhere, then feel free to reach out by phone or email. I can tell you that, unlike most, I do not find this boring.

You can also find out more local information by following us on FACEBOOK, INSTAGRAM, and YOUTUBE

Check out the latest market housing report as provided by our local MLS board - Hudson Gateway Multiple Listing Service - for Westchester County

 

 

 

 

Aug. 18, 2016

Westchester County, NY Home Sales up 19.9%

Today, I read a very interesting article. (excerpted and linked below).

The long and the short of this article below is simple. WE NEED LISTINGS.  Across every property type there is demand.  “Good, well priced, well appointed and updated properties are a HOT commodity”. RIGHT NOW … if this sounds like your home, then guess what?!?…you have something that is in demand and this is your moment!!

Westchester County NY sales up 19.9

Properly positioned properties with curb appeal and late renovations will fetch a pretty penny. Yes, let’s be honest, there is a plethora of properties on the market right now. However, many of these listings are worn out, lack proper staging, and exhibit way too much deferred maintenance.   You should know that, as the property owner, if you continue to put off needed repairs, then this can lead to asset deterioration and ultimately asset impairment.

While it is true that the high end markets are a bit sluggish right now  (I know because I’ve experienced that personally this year), the median price point is experiencing a continuing trend of higher prices, and shorter market times.   We are NOT in a seller’s market yet but we could be moving in that direction if things keep moving the way they have.  A good gauge of market trends is how long a given property is on the market.  This is a primary key indicator of your current market condition.

Excerpt from Real Estate In depth:

According to the 2016 Second Quarter Residential Real Estate Sales Report for Westchester, Putnam, Rockland and Orange Counties, released recently by the Hudson Gateway Multiple Listing Service all four counties posted double-digit increases in sales transactions as compared to a year earlier. Putnam County posted the largest second quarter increase at 31.9%, followed closely by Orange County at 30.1%. Rockland County registered a 24.5% rise in sales, while Westchester closed 19.9% more transactions than a year earlier.

Realtors interviewed by Real Estate In-Depth said that demand was strong across all housing types (single-family, condominiums, cooperatives and 2-4-family residences). In addition, the robust market seemed to be especially strong for moderately priced housing in each market. One drag on the market has been the luxury sector, which continues to struggle.

 

Stephen Zondorak

Licensed Real Estate Broker

Astor Lane Realty

914-341-2998
July 22, 2016

Critical First Step for Every Homeowner

As a realtor, I LOVE working with first time home buyers! They are sponges that soak in every single nugget of information that comes their way. I have the pleasure of seeing them grow from wide-eyed, eager house hunters to joyful, confident home owners when they are handed those keys. However, this is not an easy task. My job is to guide them from beginning to end so they feel they made the right choice in choosing me as their representative. Nonetheless, my first order of “business” is the most IMPORTANT piece in ensuring this process goes as smooth as possible – getting a pre-approval!!

The pre-approval, as opposed to a pre-qualification, signifies that the loan application has been taken through an extended process confirming a home buyer’s financial standing.

Here’s why pre-approved buyers are ahead in the home buying game:

1) If you make an offer on a home and then apply for a loan, you are at the lender’s mercy, who is aware that you do not have time to shop around.

2) A pre-approval saves time spent looking at houses you can’t afford.

3) A pre-approval letter from a lender gives you an edge when multiple offers have been made on a house.

4) Pre-approved buyers can generally close escrow more quickly, since most of the work has already been done.

Making the right decision can save you time AND money.

Personally, I work with various lenders that, through the years, have helped my clients tremendously.  There is great value in working with a team that can guide you through the home buying process.

 

Stephen Zondorak

Licensed Real Estate Broker

Astor Lane Realty

914-341-2998

Posted in Buyers