Larchmont Real Estate

Average prices slipped back along with sales volumes. The first quarter median sale price2 of a single family house in Westchester fell 8% to $552,750 from last year. It was at its lowest level since the first quarter of 2009 when the recession was most severe. Overall, prices are about 15% lower than they were at the top of the market in 2006 and 2007. In the past two quarters, high-end sales ($1 million or more) became less of a force for generating high average prices. They accounted for 16% of all sales in the fourth quarter of 2010 and 19% in the first quarter of 2011, whereas the norm for many prior quarters had ranged from 20% to as high as 28% or more.

The new year provides an opportunity to start fresh and develop goals and resolutions for the coming year. Some people strive toward financial aspirations or a professional achievement, while others might choose to pursue a lifelong goal, such as owning a home.
If 2012 is the year to achieve your dream of homeownership, the following tips may be helpful:
• Talk to the experts. Work with a real estate professional, lender and attorney who are familiar with the area in which you would like to buy a home. A real estate agent can provide you with expert knowledge about the local market, including information about community life and specific neighborhoods, and will be a useful resource throughout the entire process as he or she guides you from the initial search through closing on the purchase of your new home.
• Be smart about financing. You may have savings allotted to cover your downpayment, but don’t forget about other upfront expenses like closing and inspection costs. Look into the many programs available to help you reduce upfront costs. Also, get pre-approved as soon as possible to help you develop a budget, understand what price range you can afford and set realistic expectations.
• Determine your preferences. Speak to your real estate agent and browse online for homes that meet your criteria. Many websites, including Weichert.com, allow you to see multiple photos, view school and neighborhood information and set up e-mail alerts to notify you of new listings. Before you begin looking at homes, be sure you have a clear idea of what your wants and needs are, as well as the price you are willing and able to pay.

How much will this house cost?  It not only cost the mortgage, insurance and the taxes. You should also figure in upkeep, improvements and repairs, also furnishing and appliances.  Talk to one or more mortgage brokers not just one bank.  Know your buying power.  Think in terms of monthly expenses.

Carefully planned renovations can add comfort and ambiance to any tired room and increase the value of your home. Please contact me at 914-393-2938 to discuss whether your planned renovation make sense for your home.
Kitchens/Baths and attention to curb appeal is a great place to start.
MaryR.Haney@verizon.net

A quality tudor with architectural details. Dramatic Living room with beamed ceilings and fireplace.

There has been a price adjustment on this spacious house in Larchmont. To visit this home please call me at 914-393-2938

7 Edgewood Ave Larchmont.  3 bedrooms,  1 1/2 baths close to train and town.  Bring your imagination and make it your own ! Open House Sunday April 17th 1-5pm.

There are 35 listings for homes in the Murray Ave Elementary School District. 4 have gone conditional/pending and 7 have sold since 2/1/11.

Buyers seemed to have scooped up the last of the Larchmont inventory during the month of December.  16 homes closed between December 1 and 31, 2009.  

It’s a bit ironic.  Buyers are actually calling in and requesting us to reach out to listing agents and sellers who have withdrawn or expired listings,  asking if they are still interested in selling their homes.  What a difference from 6 months ago.  

Newly listed, aggressively priced homes are getting multiple offers.  If you live in Larchmont, now is the time to put your house on the market!  Don’t wait for the spring market!