Eastchester, NY

While the economic data released this week had little impact, mortgage rates were heavily influenced by two big stories. One was an announcement that China will take steps to slow its economic growth and the other was President Obama's proposed new restrictions on the activities of financial institutions. China Gross Domestic Product (GDP) grew at an 8.7% pace in 2009. China announced that it is going to curb bank lending. In the US, President Obama to reduce the risks to the financial system as a whole. To build capital and reduce risk, the FHA announced that it will raise insurance rates and tighten credit score requirements. The major changes include increasing upfront premiums from 1.75% to 2.25%, reducing the maximum seller contribution from 6% to 3%, and increasing the level of FICO scores from 500 to 580 below which a down payment of 10% is required. At this point, the expected timing of the upfront premium increase will be in the spring, and the other changes will take place over the summer. www.westchesterlisting.com

Although I am a member of my local MLS system, Trulia.com is a great source of Foreclosure specific information. This morning, my daily e-Mail from Trulia contained 10 listings in Eastchester, NY. Of the 10, 7 are Foreclosures!

Here is a link to the foreclosure search in Trulia (there are 8 foreclosures available): http://www.trulia.com/for_sale/Eastchester,NY/foreclosure_lt/

I am not a proponent of doom and gloom. The reality is, there are opportunities for those who are ready, willing and able to buy. It may not necessarily be a foreclosure or short sale. There are other properties that present opportunities for todays buyer; estate sales; family illness creating a need to move; job transfers and/or job loss.

As a buyer, why not take advantage of the opportunities this market offers? You never know, your dream cottage or castle may be available today!

I thought about posting results for the third quarter for the Lake Isle Real Estate Market, Eastchester, NY and have decided not to. Why? Things have been slow. The results might appear grim and I don't want to present that message because...

I am looking at a much better fourth quarter for the properties I specialize in, Interlaken Gardens, Channing Place, Lake Isle Estates and The Townhouses at Lake Isle. There are a number of excellent properties and fantastic opportunities in each community. Lake Isle, built around Lake Innisfree and bordering Lake Isle Country Club remains one of the best kept secrets in Westchester County real estate. With private beaches, pools, lifeguards, swimming, boating, low fee resident membership to Lake Isle Country Club featuring 5 pools, tennis courts, some lit for night play, an 18 hole golf course and a magnificent catering hall AND a less than 30 minute commute from Crestwood Train Station to Grand Central Station, Lake Isle is worthy of serious consideration.

I am looking forward to presenting the exciting activities Eastchester offers. I hope you join me.

Thanks for visiting.

It doesn't seem like this weekend is the kickoff of the summer season. I know Memorial Day is Monday but it is hard to think about swimming and sailing when the heat was on last night. Frost warnings after May 15 in Eastchester, NY are not suppose to happen.

This weekend will start the summer activities on Lake Innisfree and at Lake Isle Country Club. The residents of Interlaken Gardens and Channing Place enjoy wonderful activities planned by a group of volunteer members of the Lake Committee.

It is amazing to me that a community less than 30 minutes from Manhattan has the amenities and lifestyle that mimics a resort community. Best of all, it is affordable.

It's the third weekend in April and you can feel Spring in the air. The excitement of summer activities that will be starting soon quivers through the air.

Just imagine the family times you can enjoy on the lake!

Beginning weekends in May, weather permitting, the private beach for residents of Interlaken Gardens and Channing Place opens for residents and their guests.

Golf has started at Lake Isle Country Club. A special group, The Twilightlers, meet on Tuesday evenings to play nine holes. This is a group for all the lady golfers. It is a wonderful social group who enjoy the game and enjoy getting together beginning May 5 through the end of August. They play the front nine and go out in foursomes starting at 4:00 pm. Dinner is prepared by volunteer members for all to enjoy after the game.

Eastchester offers so many wonderful things for residents and their families. It's a great community to call home.