2011 marked a year of relative stability in the residential real estate market north of New York City, in contrast to the volatility seen in global financial markets.

Following the big bounce in home sales in 2010, we experienced modest declines in both units and median prices in 2011 across most of the region.

In Westchester, the median single-family home sold for $600,000, down 4.7% from 2010. In Putnam, median prices were up 3% to $320,000, breaking a 5-year downtrend during which prices declined a total of 25%. In Dutchess County, single-family home values were down 5% to an average of $246,000.

For the full report and market by market stats including Armonk/Byram Hills, Click here

http://viewer.zmags.com/publication/6e4690a9#/6e4690a9/2

Both of these luxurious residences in Armonk, New York  were thoughtfully professionally landscaped, lighted and executed to create an unparalleled ambiance for summer pleasure.

Take a look here at  10 Hallock Place in Armonk http://armonkhomepage.wordpress.com/10-hallock-place-armonk-ny/

            

Endless views

Dramatic vision

Private Setting

64 Middle Patent Road

The country feeling is welcoming with all the amenities and conveniences of the”suburbs”. More land is why buyers come here..but it’s not all flat and usable. Privacy is a key reason in your own backyard.

But every once in a while, in every price range you can get flat, gorgeous property and privacy. View my listings here that are currently on the market for sale and are set beautifully on bucolic land!

http://armonkhomepage.wordpress.com/64-middle-patent-road-armonk-ny-10504/

Another example is 5 Ridgeview Drive, Armonk.

For more information on 5 Ridgeview, Click here http://armonkhomepage.wordpress.com/5-ridgeview-drive-armonk-ny/

Location..location!http://tours.vht.com/Viewer/VHTTour.aspx?ListingID=50510893&Style=HLN

                                                                                                                                                                                                                    A magical summer night indoors or outside…your table is waiting.  Sliding walls of glass with lake front views, Japanese gardens and a visit from Sammy the swan. Isn’t this what summer should be like every night of the week?

A million dollar view in Pound Ridge for $1,185,000 AND you get a fabulous mid century modern home as well. For more photos, click here http://www.houlihanlawrence.com/real-estate/propertydetail/3118104/Pound-Ridge/3-Calf-Pasture-Ln-Pound-Ridge-NY-10576

The Zestimate (pronounced ZEST-ti-met, rhymes with estimate) home valuation is Zillow’s estimated market value, computed using a proprietary formula. It is not an appraisal. It is a starting point in determining a home’s value. The Zestimate is pulled from data; your real estate agent or appraiser physically inspects the home and takes special features, location, and market conditions into account. Variations in price also occur because of negotiating factors, closing costs, and timing of closing. We encourage buyers, sellers, and homeowners to supplement Zillow’s information by doing other research such as:

    * Getting a Comparative Market Analysis (CMA) from a real estate agent

    * Getting an appraisal from a professional appraiser

    * Visiting the house (whenever possible)

 Over the past few years I have been questioned by buyers why the Zestimate on Zillow doesn’t match up to the list price. Technology and information websites like Zillow and Trulia offer great information for buyers. However, you need a  professional real estate agent (human) that does this for a career and visits all the listed properties in the territories/school districts where they are a local expert to advise you on value when buying or selling.

For more information on what Zillow says about this in fine print, read here http://www.zillow.com/wikipages/What-is-a-Zestimate/ and then call or email me for a price opinion. Happy to offer some human expertise!

The housing bubble was created on a bed of dishonesty. I’m not saying that any group was malicious in their intent. Everyone probably believed that it would all work out in the end. But, it didn’t. Instead, we were faced with the largest housing collapse since the Great Depression. Honesty is what will correct the market going forward from agents to mortgage brokers, appraisers and banks. Read more here http://kcmblog.com/2011/03/04/honesty-is-the-best-policy/  

For the State of The Real Estate Market 2010 and Outlook for 2011 from Houlihan Lawrence principals Stephen and Chris Meyers, click here http://gen3.connectingneighbors.com/static/60760.pdf

Breakdown of price range of Sold properties

Up to $749,000 28 homes sold (7 more than 2009)
$750,000-$999,000 35 homes sold (16 more than 2009)
$1,000,000-$1,249,999 12 homes sold (no change)
$1,250,000-$1,499,000 11 homes sold (8 more than 2009)
$1,500,000-$1,749,000 5 homes sold (2 less than 2009)
$1,750,000-$1,999,000 2 homes sold (4 less than 2009)
$2,000,000-$3,000,000 13 homes sold (2 more than 2009)
$3,000,000-$3,499,000 2 homes sold (1 more than 2009)
$4,000,000-$4,249,999 1 home sold (none in 2009)
$4,750,000-Up 0 homes sold (2 less than 2009)

Average sale price in the Byram Hills School District for the above sales is $1,201,871 for 3668 sqare feet at an average price per square foot of $327 and 210 days on the market (listing date to sale date). Although the Luxury market did make a move upwards, the biggest gain was in homes selling below $1,500,000.

For more specifics on properties sold, e-mail me at hlibov@houlihanlawrence.com
Data from 2010 Empire Access Multiple Listing Service-Data believed to accurate but not warranted. All data subject to verification.

For more information about Armonk and the Byram Hills School District, visit www.armonkhomepage.com

Modern home to make your own? http://armonkhomepage.wordpress.com/77-chestnut-ridge-road-armonk-ny/

Armonk living

Moderne Restaurant in Armonk? http://www.modernebarn.com/

Moderne Barn

Modern Furnishings

In the Byram Hills School District, there was a 25% growth in  2010 sales from 82 single family homes sold in 2009 to 110 sold in 2010. Prices saw a depreciation of 11.4% . The median sales price went from $1,047,250 to $927,500. It appears that our prices are back to levels around 2003.    

So was it the “perfect storm”? Demand certainly increased at a time where we needed momentum.  As an agent, I’m feeling more confident that the buyers are back and ready to purchase. Value pricing is what’s important to sell a home. Sellers have to be realistic if they want to sell and listen to their agent and recent sales, statistics when listing their home.  Buyers will purchase if  they see value.

A special thank you to my clients and friends  for  my best year in business in 2010 withover $13M in sales in Armonk, Chappaqua and Bedford.   Here’s to 2011 and a market that continues to grow!

Data from 2009 Westchester-Putnam MLS, Inc.- Data believed accurate but not warranted. All data subject to verification

For more information about Armonk and the Byram Hills School District visit www.armonkhomepage.com