More January Home Sales
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260 Fort Hill Road: Majestic home built in 2005 on 1.5 acres in Edgemont. Two story entry and Turkish stone floor. One-of-a-kind moldings throughout. State-of-the-art kitchen with wet bar and butler’s pantry. Fifty-foot swimming pool.
List Price: $4,950,000
Sale Price: $4,236,250
Estimated Tax: $58,286
50 Ogden Road: A blast from the past: 1951 custom built ranch with slate roof and circular driveway in the heart of Fox Meadow. Open floor plan with a large living room with oversized windows and dramatic stone fireplace, dining room, den with custom built-ins and wet-bar, Master bedroom with windows overlooking back yard, bath and second bedroom also with en-suite bathroom. Lower level bedroom and bath, laundry and large two- car attached garage.
List price: $1,395,000
Sale Price: $1,200,000
Estimated Taxes $36,528
968 Post Road: Charming 1921 Colonial set back from street on the Post Road. House sits on one quarter acre with a large, private back yard. Expansive deck directly off the kitchen.
List Price: $729,000
Sale Price: $677,500
Estimate Taxes $14,619
17 Stratton Road: Charming stone front Tudor in Quaker Ridge with curb appeal. Oversized living room with fireplace, den, and elegant dining room. Slate roof, hard wood floors.
List Price: $799,000
Sale Price: $720,000
Estimated Taxes: $21,290
How Will The Market Fare in 2010?
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What's in store for 2010? Realtor Jonathan Lerner offers his top ten predictions for the Scarsdale real estate market for the upcoming year.
10) The worst is over, the real estate market has hit bottom in Scarsdale and we will now even see some slight appreciation.
9) Out with bad credit… borrowers whose FICO (credit) scores are below 625 will not be able to obtain a loan. Lenders will be making loans with best terms to those whose scores are above 725.
8) The “move up” market will stay soft as owners choose not to sell what they own, though in the past, owners have typically moved up every five to seven years. Current owners, especially those who bought their homes in the past five years, don’t have enough equity to move. With fewer “move up buyers,” the driving force behind sales will be first-time buyers.
7) Builders will not build… in the early 2000’s builders were riding high. They could build on “spec” and sell before the dust cleared. Now, unless a builder has a buyer ready to purchase, builders will not begin the work.
6) Builders will go on a diet, making mini-mansions fashionable. The trend will be to build smaller, less expensive homes that appeal to first-time buyers and to those hoping to downsize.
5) Summer will bring a slump in housing sales. The home buyer tax credit was extended through April 30, 2010 with the stipulation that the sale closes by June 30, 2010. Since these tax credits are unlikely to be renewed, sales will drop mid-summer and interest rates may rise.
4) Inventory will fall as sellers smarten up and cancel listings that don’t sell. However, falling inventory will not drive up prices.
3) Due to the decline in sales, several of the local real estate agents will close their doors. This will reduce competition however inexperienced agents may find themselves without jobs.
2) With less inventory, more buyers will find themselves competing over attractive listings. Sellers of premium quality homes could receive ten or more offers. While these multiple offers may drive up pricing to the fair market value, buyers will not over pay.
1) Engel & Völkers will complete its brand new Scarsdale office and move to it's home in the historic Heathcote Train Station at the Five Corners.
Jonathan Lerner is the Managing Director for Engel & Völkers - a worldwide real estate agency with over 400 property shops located in 32 countries. Contact him at 914-723-5555 ow visit their website at www.engelvoelkers.com/us/scarsdale/
Real Estate Sales 12-28-09
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The final weeks for 2009 were good ones for real estate closings in Scarsdale and Edgemont. Good volume and some unbelievable deals. See below:
20 Wayside Lane: New six bedroom home on half an acre in Fox Meadow with oak floors, high ceilings, custom moldings, a private master suite with fireplace, study with beamed ceiling and large custom designed kitchen and family room.
List Price: $3,469,000, Sale Price: $3,187,500, Estimated Tax: $76,700
158 Brewster Road: Charming, well-maintained 1927 Tudor on 1/4 acres in Greenacres. Sunken living room and fireplaces in living room and master bedroom. Five bedrooms, three baths and hardwood floors throughout. Designer kitchen with stainless steel appliances, cherry wood cabinets, marble baths and steam shower in master. Roof and furnace three years old.
List Price: $1,200,000, Sale Price: $1,180,000, Estimated Tax: $21,608
270 Fox Meadow Road: Six bedroom, six bathroom home, built in 2002 on Fox Meadow Road. 5,655 square feet of interior space set on .24 acres. Large kitchen with center island.
List Price: $2,195,000
Sale Price: $2,000,000
Estimated Tax: $39,768
58 Palmer Avenue: Three bedroom 1965 ranch style home with finished basement and two car garage on nicely landscaped .18 acre property.
List Price $514,500, Sale Price: $565,000, Estimated Tax: $14,157
2 Stonewall Lane, Mamaroneck: Mid-century jewel, built in 1953 has been respectfully maintained in it's original splendor. Updates, including an eat-in kitchen are consistent with the architects vision of minimalist design and function. Designed by architect Bertram Lee Whinston. House sites on almost 1/2 acre in Quaker Ridge.
List Price: $889,000, Sale Price $820,000, Estimated Tax: $20,355
190 Highland Road: Solid and spacious 1946 Colonial in Edgemont with large rooms, a great layout, and beautiful property. Classic details abound in this 3 bedroom home on 1/3 acres with garden and patio.
List Price: $820,000, Sale Price: $752,600, Estimated Taxes: $21,608
45 Highridge Road: Inviting country style home on .34 acre on a tranquil, cul de sac. First level includes an Au Pair Suite, renovated kitchen, artist studio/family room. with stone fireplace. entrance. Enclosed porch and two patios.
List Price: $1,195,000, Sale Price: $915,000, Estimated Taxes $27,792
89 Brite Avenue: Brick center hall Colonial in Fox Meadow. Exquisite architectural details, spacious sun-filled rooms, three fireplaces, chef's kitchen with cherry cabinetry, Subzero refrigerator and and Viking appliances. Master suite with fireplace and sitting room. French doors from living room and family room to stone patio and level half acre yard with garden and outdoor lighting.
List Price: $2,125,000, Sale Price: $1,850,000 Estimate Taxes: $41,676
35 Chesterfield Road: Center hall Colonial in Fox Meadow. Built in 1986, features 3,084 square feet of updated living space. Expansive formal rooms, family room with fireplace, access to deck and lovely private yard, large kitchen with doors to deck, laundry room. Five bedrooms and three and a half baths.
List Price: $1,495,035, Sale Price: $1,470,000 Estimated Taxes, $33,671
Home Sales for the New Year
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Here's a list of homes that closed right after the New Year. For several of the homes, the listings indicate that taxes were grieved and reduced, perhaps making the homes more affordable for buyers.
260 Mamaroneck Road: 1920 Mediterranean on 1.74 acres with tennis court, and indoor pool with floor-to-ceiling windows overlooking lovely property. Grand living room, library, dining room, eat-in kitchen, breakfast room plus seven bedrooms and 4.1 baths. Perennial gardens, specimen plantings, circular driveway.
List Price: $1,780,000
Sale Price: $1,690,000
Estimated Taxes: $48,858
40 Murray Hill Road: Contemporary home on two acres with pool. Open flow, high ceilings, spacious rooms with circular drive and large front lawn.
List Price: $3,300,000
Sale Price: $2,549,000
Estimated Taxes: $54,000
54 Church Lane: Well maintained Normandy Tudor with leaded and stained glass windows, English gardens, brick patio, central air conditioning, and irrigation system,
List Price: $1,850,000
Sale Price: $1,700,000
Estimated Taxes: $32,365
137 Lyons Road: 2008 center hall Colonial with hardwood flooring throughout. Kitchen offers granite, stainless steel appliances, open layout for entertaining, and sliding doors to stone patio. Living room with fireplace, formal dining room. Master suite includes jacuzzi and walk-in custom closet. Three more bedrooms with hall bath. Finished family room with full bath in basement.
List Price: $919,000
Sale Price: $890,000
Estimated Taxes: $20,462
A Sweet Deal: Almost Two Acres for $700K
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8 Eastwoods Lane: Tudor with great curb appeal -- Living room with cathedral ceiling, beams and fabulous stone fireplace. Pine-paneled playroom with stone fireplace. Located in The Woods in Edgewood. Total property size is 1.74 acres and includes 1 plus acres in New Rochelle. Quiet street. Backyard features stream, open meadow and virgin woods. Bird watchers paradise.
List Price: $849,000, Sale Price: $700,000 Estimated Tax: $24,200
10 Vernon Road: Much admired Norman stone Tudor on a half acre of level, landscaped property. Old world craftsmanship and quality throughout: wood paneled living room with vaulted ceiling, beautiful hardwood floors, solid oak and mahogany doors and archways. Great lower level has family room with second fireplace and separate game room. Truly one of a kind!
Sale Price: $1,295,000, List Price $1,147,500, Estimated Tax: $27,981
30 Harvest Drive: Bright classic new colonial built by highly respected Nantucket Home Builders known for their superior quality and craftsmanship. Every detail of this six bedroom home was thoughtfully designed and carefully executed. Sited on just shy of one half acre, this gracious home is well landscaped and screened for privacy and enjoyment. Features eat-in-kitchen with stone counters, center island, and breakfast area, dining room, living room with fireplace, family room, and master bedroom with walk-in-closets, stone bath and whirlpool.
List Price: $2,595,000, Sale Price: $2,300,000, Estimated Tax: $54,000
5 Old Lyme Road: Sprawling 5 bedroom, split level home on beautiful level half acre. Circular driveway, entry hall with gleaming black ceramic floor, beautiful views of backyard from living room, dining room and family room. Kitchen with center island, double ovens and five burner range top. Wonderful spaces throughout the house. Hardwood floors, recessed lighting and crown molding. Three car garage. List Price: $1,295,000, Sale Price: $1,262500, Estimated Taxes $24,370
