First Time Homebuyers Tax Credit

Homebuyer Tax Credit – The bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009.  The credit does not require repayment.  Most of the mechanics of the credit will be the same as under the 2008 rules:  the credit will be claimed on a tax return to reduce the purchaser’s income tax liability.  If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

Chart Highlighting the Major Modifications to the First-Time Homebuyer Tax Credit> (PDF: 309K)

Frequently Asked Questions> (PDF: 483K)

NAR’s Presentation: The 2009 First-Time Homebuyer Tax Credit  (PDF: 319K)

Buy With Confidence – Re-List Free Guarantee

The Re-List for Free Guarantee

It’s time to make your move. As one leading real estate brokers in the Hudson Valley for almost 25 years, we have seen these ups and downs in the market before, and we know that real estate goes in cycles. We believe that this market provides great opportunities for savvy buyers: rates are at all-time lows, inventory is high, and prices have come down significantly for over three years. This is a great place to live, and over the long-term homes in our area provide a tremendous investment opportunity.

So we’re willing to make you this guarantee:
If you buy a home with a Prudential Rand Realty agent by March 31, 2009, and that
home goes down in value by the time you sell it, we will re-list it for free.

It’s that simple. We know this is a great time to buy, so we are putting “our money where our mouth is.” If you are in contract to buy a home through a Prudential Rand Realty agent by March 31, and your home goes down in value by the time you sell it, we will re-list it without charging a listing commission.

It doesn’t matter if you sell it next year, three years from now, or 20 years from now. We’ve been here for 25 years, and we’ll be here for many more. We’re committed to the people and communities of Westchester and the Hudson Valley, and we believe that our best years are still to come.  http://www.sherrywiggs.prudentialrand.com/makeyourmove.aspx

Westester Real Estate Statistics For Your Town

Ardsley Real Estate Statistics

 

Below are the marketing stats for Ardsley. For more Facts and statistics on  Ardsley log On:

http://www.ARDSLEYREALESTATEFACTS.INFO

The Westchester Market is Still Active

The 24 hour market watch:

New Listings  50

Price Increases 4

Price Reductions 53

Sold Homes 21

Market Update

As we wind down in the summer market, you will find many homes that did sell this Spring will begin to reduce their prices.  I have recently noticed a White Plains home that was reduced by $100,000 and another home in Ardsley was reduced by $125,000.  Now is a great time to buy.

Below is a 24 hour market watch for Westcheter.

24  New listings

22 Homes back on the market

63 Price reductions

25 Homes sold

17 Homes expired

Mid-Year Market Statistics for Westchester

We have just pasted the mid-year mark.  How is our market doing?  Below are the statistics for the first half of this year compared to last year.

Single Family Homes

Closed sales down from 2448 sales to 1731 sales, a decrease of 41.1%

Average selling price is  down from $934,324 to $911,523 which is  2.5%.

Condos

Closed sales down from 696 sales  to 517 sales, a decrease of 25.7%

Average selling price increased from $424,719 to $438,912 an increaseof 3.3%

 

Co-ops

Closed sales down from 955 sales to 736 sales a decreaseof 29.8%.

Average selling price decreased from $212,545 to $202,533 a decrease of 4.9%.

Westchester’s Real Estate Inventory Update

Currently on the market there are:

4157 single family homes
957 condominiums
1174 Co-ops

24 Hour Market Watch: In the past 24 hours 64 new properties came on the market, 61 properties were reduced in price, and 32 homes were sold.

If you would like information on statistics for your area, please call or send me an email with the town you live in.

 

 

 

 

 

Open Houses – Where to find them?

A client asked me yesterday: Where is the best place to look for Open Houses?

Open Houses are published in various publications throughout Westchester.  Some publications are the Journal News, New York Times and many smaller local papers.  Agents also published their Open Houses on the Westchester Multiple Listing Service.  This is the best place to look and to find Open Houses.  They are categorized by town and you can see complete details and driving instructions.  To view the MLS Open Houses for this coming weekend, click on the right toolbar that says Open Houses. 

Happy House Hunting.

 

 

 

Active Inventory in Westchester & Statistics

Westchester’s active inventory as of June 18th 2008:
There are currently 4148 Single family homes on the market, 947 condominiums and 1162 cooperatives. This includes the 52 homes that were listed in the past 24 hours.

Single Family Homes
Closed sales are down 31%
Average Selling Price is up 4%
Average days on the market is 190

Condominiums
Closed sales are down 35%
Average Selling Price is up 0.4%
Average days on market is 168

Co-op Sales
Closed sales are down 19.8%
Average Selling Price is down 5.5%
and average days on market is 183.