Miriam Bernstein,Westchester County Real Estate

Only in New York? Maybe. On the locals newstations this morning was the announcement that the Triboro Bridge is having a name change. This bridge has had the same name since the 1930's. It is named Triboro because it connects three boros, Manhattan, Queens and the Bronx. Those of us who live here are comfortable with the bridge, the name and we know where it takes us and where it doesn't.

So, on the news this morning was the announcement that this bridge is now the Robert F. Kennedy Bridge or RFK Bridge. Here is the kicker. In these economic times, where our bridge infrastructure is deteriorating, where the there are people losing their homes, jobs and there is an economic weakness the MTA (Metroplitan Transportation Authority) decides to change the name of the Triboro Bridge. Seems a bit disconnected from the world we live in. It costs me $5.00 in tolls to travel over the Triboro Bridge each way and the MTA is always crying poverty and requesting rate increases.

To change all of the signs from Triboro Bridge to Robert F. Kennedy Bridge cost FOUR MILLION DOLLARS, for signs, just the signs. The MTA is also working with the Robert Kennedy foundation to provide information to the public, so we don't get confused by this name change. So we don't cross the
Whitestone Bridge to go to New York City, I guess.

I kid you not. FOUR MILLION DOLLARS for signs.

Hartsdale, New York is a Hamlet in the Town of Greenburgh located mid-Westchester County. Hartsdale is a 35 minute train ride on Metro-North to New York City or you can take an Express Bus. Because of its' central location it is 5 minutes to White Plains with world class shopping and restaurants, 5 minutes to the Village of Scarsdale with boutiques and sidewalks. During the month of October, 2008 here is what is going on with the real estate market.

Active Listings- the lowest price is $349,000 for a 2 bedroom, 1 and a half bath 913 sq ft house and the highest price is $,1372,000 for a 5 bedroom 5 bath, 5000 sq ft house on 1.6 acres.

Averages for Active Listings :
Single Family $661,934 2106 sq ft 128 days on market
Condominiums $390,205 1282 103
Co-Ops $226,153 971 97

46 Active Single Family Homes
20 Condominiums
49 Co-Ops

Sold Listings -averages
Single Family 3# $889,667 2516 sq ft 239 days on market
Condominiums 6 $424,564 1504 183
Co-Ops 7 $213,471 988 192

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 $967,643
The median price is $699,999
The average days on the market for active listings is 114
There 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 $1,400,000
Average days on the market for sold houses was 167
Average price for sold homes was $851,182
The median price for sold homes was $745,000

SOLD during the month of October
2004 / DOM 16 / 123
2005 / DOM 30 / 117
2006 / DOM 25 / 159
2007 / DOM 18 / 135
2008 / DOM 11 / 167

The absorption rate in the City of White Plains on 3/31/08 was 49 weeks and at the end of October it was 50.98. This indicates that the market has not slowed further in the past six months but it is a strong buyer's market.

The City of White Plains is the county seat of Westchester County, New York. It is located in the south-central of Westchester, about 4 miles (6 km) east of the Hudson River and 2.5 miles (4.0 km) northwest of Long Island Sound. It is bordered to the north by the town of North Castle, to the north and east by the town/village of Harrison, to the south by the town/village of Scarsdale and to the west by the town of Greenburgh. As of the 2000 census, the city had a total population of 53,077, while a 2006 census estimate put the city's population at 57,081.^[1] White Plains is one of the edge cities that have developed outside of New York City. According to the mayor of the city, the daytime weekday population is estimated at 250,000.^[3]

^{There are about 18 different communities throughout White Plains from Prospect Park with it's wonderful Victorians to Battle Hill, Gedney Farms, the Highlands and Hillair Circle. There is something for everyone with all styles of housing and a broad price range. There are 3 outdoor swimming pools, an ice skating rink, 50 acres of open passive space, 1 public golf course, 3 country clubs and 14 active play areas. There is world class shopping with The Westchester Mall with Nordstroms and Neiman Marcus as anchors, the Ritz Carlton is new to Westchester County and White Plains is a 35 minute train ride into New York City.}

^{White Plains Library
White Plains School District
White Plains Hospital
White Plains Historical Association
White Plains Performing Arts Center
White Plains Beautification Foundation}

^{Copyright 2008, Miriam Bernstein and Westchester Real Estate Blog, All Rights Reserved}

Breeding season for the hoofed mammals runs roughly from October through December, and with their minds on mating, apparently they get a little loopy and careless about cars"

Throughout Westchester County you can see deer on the roadsides. Even as far south as Ardsley and Yonkers. Driving at night can be dangerous during deer mating season as they dash onto the roadways without warning.

Excerpted from the New York Times:

"October, November and December are the peak months for vehicle collisions with deer. The high point is in mid-November, the peak of the rutting season. "They are breeding, and many of these deer have other things on their minds," Compounding the problem will be the start of hunting season. Westchester does not have a firearms season, but long-bow hunting is permitted from Nov. 1 through Dec. 31. While hunters are in the woods, deer may be driven from their natural habitat into more developed areas, including major roadways. (Longbow hunting is prohibited within 500 feet of a dwelling, so it is unlikely that any archers will be taking aim along the Saw Mill River or the Taconic State Parkways.)"

From our local newspapers, the Journal News, here.

Everyone is feeling the pain. The sub-prime mess and the Wall Street meltdown is affecting people across all income levels. Home expansions put on hold effect everyone in the building industry, architects, contractors, plumbers, electricians, suppliers, appliance manufacturers.

In Chappaqua, New York which is known for a lot of things but mostly as the community where Bill and Hilary Clinton live, they are feeling the pain with 17% of the community dependant on Wall Street for their incomes.

Chappaqua is a 45-60 minute commute to midtown. There are currently 89 single family houses on the market with the average price being $1,749,37, the median price being $1,050,000 and the average days on the market at 148.

The biggest blow has been the loss of jobs in a place where the financial firms of Wall Street and Midtown Manhattan are the daily destination for so many. According to the 2000 census, 17.6 percent of Chappaqua's adults worked in finance, insurance and real estate. With bankers and traders for firms like Lehman Brothers and Bear Stearns now conspicuously absent every morning on the train platform, Chappaqua's upbeat mood has soured.

To read the entire article from the New York Times, here
Wikipedia, Chappaqua, New York
Chappaqua School District
The New Local Website, My New Castle
Train Schedules, Stations, Monthly Costs