Tag Archives: westchester County Real Estate

Identifying Overpriced Homes

For many homebuyers, particularly first timers, buying a home can be quite a challenge.

While the selection of homes that might fit your criteria can be overwhelming, a second challenge might be the difficulty in pointing out which homes represent good value for your money and which ones are priced well above their actual value.

How to tell if a home is overpriced? Here are a few red flags:

  1. If the home is priced higher than other recently sold properties in the area
    The value of a home is partially dependent on the price of other homes in the neighborhood. Checking out recently sold homes in the area will give you an idea of comparable property prices.unnamed Just because you’re considering a luxury home in the middle of a modest neighborhood doesn’t necessarily mean that the home is worth significantly more. In fact, the area the property is in can bring its value down.
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  3. If the home has been in the market for weeks
    Many homes are typically sold within weeks or even days after being listed. When a home sits unsold for weeks on end, it usually means just one of two things – the vendor is not 100% committed to making a move, or the home is overpriced.
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  5. If the number and frequency of viewings or open houses are few and far between
    A home for sale will usually have a succession of open houses arranged by a real estate agent. If the home has not had a scheduled viewing for quite a while, or if open houses are few and far between, it could be a sign that the home is overpriced, with buyers in that area deciding that the home is not worth their attention.
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  7. If the property has had extensive upgrades or customization
    A seller usually mentions the new kitchens, remodeled bathrooms, add-on decks, swimming pools, and other improvements in their home in a bid to sell quickly – or jack up the list price. As a homebuyer, you’ll have to ask yourself if you actually need these upgrades and if they add value to you as a prospective homeowner.
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  9. If the price of the home doesn’t match the neighborhood it’s in
    If “location is everything” when it comes to real estate, then it follows that the more desirable the neighborhood, the higher the property prices. Busy streets, poorly-rated schools, low-income demographic areas, and limited amenities can bring down the value of a home. If you don’t mind moving into this kind of neighborhood, then the price of your home should be a lot lower than if you were buying the same kind of property in a quieter and better-heeled part of town. Otherwise, cue the red flag!

 
Identifying Overpriced Homes

If you want to get your money’s worth when it comes to real estate in New York’s Westchester County, contact our team today and we’ll be more than happy to help you.

 

 

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10 of the best neighborhoods in Westchester County

Just north of New York City, Westchester County is an ideal location for suburbanites who commute to work in Manhattan some 30 miles away.

Westchester is a charming community. Its 900,000 residents live across 49 towns, all offering a wealth of housing options to suit every need.

Here’s just a few of the best neighborhoods found in Westchester County:

1. Dobbs Ferry
Offering a truly diverse selection of homes ranging from classic Victorians to mid-century split-levels, to condos and million-dollar estates, this river town has been regarded as a warm and comfortable place to live.

2. Fleetwood
This busy and diverse neighborhood in North Mount Vernon has numerous vintage homes as well as pre- and post-war buildings. Convenient commuting remains Fleetwood’s biggest draw, since it’s just blocks away from the Metro-North station, and it’s right off Exit 8 on the Cross County.

3. Irvington
This unassuming river town named after Washington Irving is pretty near perfect, with a charming Main Street, burgeoning dining scene, and stunning river views. You’ll find sprawling park estates, elegant brick Colonials, and stately historical homes from among a diverse array of residences.

Partial View of Mamaroneck Harbor

Partial View of Mamaroneck Harbor

4. Mamaroneck

This historic harbor-side village with a diverse population and an array of shops and restaurants offers a lot of residential options, from co-op apartments to multi-million-dollar waterfront homes on the Long Island Sound – making Mamaroneck an attractive place to live for people of different incomes.

5. Mount Kisco
Downtown streets lined with a mix of big chains and small mom and pop stores offers shoppers the best of both worlds. It makes this diverse community one of the more desirable places to live in Westchester County, especially with its affordable home prices.

6. New Rochelle
Residents of New Rochelle have long praised the town’s ethnic diversity, community spirit, school system, and economic mix. It’s one of those places where the old and new, and the hip and traditional co-exist harmoniously. The same qualities can be seen in the town’s real estate, which range from sprawling multimillion dollar acreage to turn-of-the-century single family homes on tree-lined streets.

7. Ossining
One of the more affordable places to buy a home, Ossining also has low property taxes and above average schools. It’s also got a charming downtown area and an impressive number of structures that are on the National Register of Historic Places.

8. Rye
With 6 square miles of land and 14 square miles of water, Rye City is the smallest city in Westchester County – but it’s the wealthiest and most historic. Almost three-quarters of the homes are single-family residences, and the area has been described as having the “cuteness of a village, but it is a city.”

9. Tarrytown
Blending lovely small-town charm with modern diversity, Tarrytown bustles with appealing antique shops, art galleries, specialty stores, gourmet eateries, and a great music hall. Forbes Magazine did the right thing by including Tarrytown in their list of America’s 10 Prettiest Towns.

10. White Plains
The only municipality with a real skyline, White Plains owes its transformation to urban planners. They turned the town into a vibrant city, with an abundance of condominium apartments. Liveability has gone up, along with high walkability to nearby amenities, like having a Walmart a block away from a Ritz-Carlton.

 
Find out more on the best neighborhoods to live in Westchester County by getting in touch with us at the GioHomes Team today.

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A helpful checklist for buyers and sellers

Buying a home is going to be one of the biggest financial decisions you are going to make in your lifetime. Therefore, it’s best to prepare yourself to ensure that you end up with a worthwhile piece of property that suits your needs.

What you need to know before buying a house

    • Before you even start looking for a house, get pre-qualified
      This is important because once you’re pre-qualified, you’ll know exactly how much you can afford – which will help a lot in narrowing down your choices.

Looking at house key through magnifying glass

  • Secure pre-approval
    Homebuyers with pre-approved loans have an edge over other buyers. If you know the types of mortgage options available to you. you can be sure that the loan product you’ve chosen is really the right one for you.
  • Know what you want in a home
    It helps to make a list. Write down the features you deem essential, nice to have but can do without, and so on. Knowing what you want at the outset will save you the time and trouble of searching homes that aren’t even in the neighborhood of your requirements.
  • Choose the right real estate professional
    You can buy a home without the help of a real estate agent, sure. But there’s nothing like the security of having an experienced and knowledgeable professional by your side to help with your decisions.

 

Questions you need to consider before selling your home

If you’re thinking of placing your home on the market, downsizing, or relocating to a new neighborhood, make sure you’ve answered the questions below:

  • Is selling your house really an option?
    Before you decide to put your home on the market, find out if selling is the best option for you. Keep in mind that depending on the state of the market, selling your home could take longer than you anticipated. Make sure that this is what you really want before you embark on the process.
  • Are you doing it alone?
    Find the right real estate agent to help you sell your home. Of course, you can close the deal yourself, but you will be depriving yourself of the advice, guidance, and marketing experience that a seasoned professional can provide.
  • Do you know exactly how much your home is worth?
    Check out the prices of homes similar to yours and get your home inspection done. Once you know if your home has defects that you need to correct and improve, so you can price your property accordingly.
  • Does your home look appealing at first sight?
    First impressions count a lot, so make your home as appealing as possible. You can undertake simple repairs and upgrades, and give your home a through scrub down so it looks clean and inviting. A little elbow grease can make a huge difference in the quality of offers that you’ll get.

Connect with our team today so we can assist you with all your home buying and selling needs.

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