More Homes Selling to the Highest (Cash) Bidder

Westchester County’s housing market has strongly favored sellers in recent years, with many buyers forced to offer above the asking price just to stay competitive. According to my research, 56.2% of homes in Westchester sold for more than the listed price last year.  With all-cash offers becoming more frequent,  HousingWire is reporting that New York ranks second in the nation with 40.4% of purchases made in cash. It begs the question: What makes cash offers so appealing to sellers?

  1. Fewer Risks: No appraisal and mortgage approvals are required.

  2. Can Close “As-Is”: The ability to close with issues like open permits or code violations which lenders will typically…

67 Views, 0 Comments

Inside Westchester’s Bidding Wars

Bidding wars in Westchester County, New York

The Westchester County housing market continues to see a high volume of homes selling above their asking price. My analysis of single-family home sales by school district reveals that 56.2% of closed sales last year sold above list price. Of the 39 school districts I reviewed, 30 had a majority of sales close above asking, while only 9 districts fell below the 50% mark. Every school district, with the exception of Bronxville (99.3%) and Tuckahoe (96.8%), had an average sale-to-list price ratio above 100%.

Highest Percentage of Sales Over Ask:
    1.  Hendrick Hudson:  77.8%
    2.  Rye Neck:  72.2%
    3.  Elmsford:  70.8%
    4.  Irvington:  69.4%
    5.  Ardsley:  68.4%
    6.  Peekskill:  67.9%

199 Views, 0 Comments

After 5 emails, 21 phone calls, and 181 text messages - we had a deal.

As a service-based business, it’s natural to want to share only the wins, but it’s just as important to be honest about the tough moments, too. If you’ve been house hunting lately, you know how tough the market is.

Last week, my buyers offered $100,000 over asking with excellent terms — strong down payment, no formal inspection, and a flexible closing — for a home they truly loved. It wasn’t a bidding war, but there was competition, and comparable sales supported the offer. So, we led with a strong and serious offer.

Then, we lost — to an all-cash buyer.

We regrouped, removed the escalation clause (since $20k over all-cash wasn’t enough of an…

61 Views, 0 Comments

Think Prices Are Dropping? Not in New York

According to Realtor.com, 18% of home listings nationwide had price reductions last month, marking the highest percentage for any April since 2016. While the article doesn’t define what constitutes a "healthy" rate, historical trends suggest that around 10% to 15% of active listings typically undergo a price cut. Many Southern and Western states reported reductions above 15%, and nearly all states experienced an increase in price reductions compared to last year. In Westchester County, 224 out of 1,328 active listings in April had a price drop, a 6.67% increase from the same period in 2024.

Ralph’s Take

What does this mean for Westchester County? I track price reduction…

73 Views, 0 Comments

What If You Bought Your Home in 1995?

According to ResiClub's analysis of the Freddie Mac House Price Index, U.S. home prices surged by an impressive 300% from March 1995 to March 2025. Despite market fluctuations over the past three decades, homeowners experienced substantial gains in home equity, highlighting the enduring value of real estate as a wealth-building tool. Some may argue that stocks offer superior returns, noting that the S&P 500 Index rose by roughly 926% over the same period, but consider this:

  • Leverage: Home price gains can yield far higher returns on a buyer’s down payment due to mortgage leverage.

  • Opportunity Cost: Choosing to skip homeownership often means paying rent and underinvesting in…

59 Views, 0 Comments

Can You Buy a Home with Crypto? Yes, But Read This First.

Cryptocurrency saw gains this week, with Bitcoin surpassing $100,000 for the first time since February. The digital currency market has already disrupted banking, finance, and art. Now, it’s knocking at the door of real estate. Yes, you can buy a home with Bitcoin, Ethereum, or another digital currency. But before you start moving your Dogecoin to a cold wallet and house-hunting in Westchester, there are a few key things you should know:

  1. Not All Sellers Will Accept Crypto: 

    The deal often requires converting your cryptocurrency into dollars through a third-party service or crypto-friendly escrow company. It’s rare (but not impossible) to find sellers willing to…

74 Views, 0 Comments

Equity Flex: Baby Boomers are Driving the Market

Despite millennials entering their peak home-buying years, baby boomers outpaced them significantly in home purchases over the past year. According to the 2025 Home Buyers and Sellers Generational Trends Report by the National Association of Realtors (NAR), baby boomers accounted for 42% of all home buyers, a sharp contrast to the 29% share held by millennials. This marks a notable decline in millennial participation, down from 38% the year before. Additional findings:

  • Silent Generation (ages 79–99): purchased highest share of new construction.

  • Baby Boomers (ages 60-78): the largest share of buyers and sellers.

  • Gen Xers (ages 45-59): made up 24% of home…

63 Views, 0 Comments

40.5% of U.S. Properties May be Over-Assessed

For many Westchester County homeowners, spring doesn’t just bring blooming magnolias, it also brings the annual property tax assessment. If you’ve looked at yours and thought, “This can’t be right,” — you might be right. An article from Realtor.com suggests that approximately 40.5% of U.S. properties may be over-assessed. With home prices up more than 30% since 2020 in Westchester​, it’s no surprise that some assessments feel inflated. But municipalities don’t always get it right.

Here’s how we review property taxes and what to do if you're over-assessed:

  1. Find Your Assessment: Check your tax bill for Total Assessment or Taxable Value.

  2. Check the Residential…

118 Views, 0 Comments

Two weeks ago, I launched a three-family listing, and the turnout blew us away.

Over 100 people showed up to the open house. Anticipating a strong turnout, I brought backup: my father (our broker), a sales agent, and a mortgage pro — and we could still barely keep up.

We received 4 offers on the first day, and by Thursday's "Highest and Best" deadline, that number had grown to 16.

The seller accepted an above-asking offer with exceptional terms. ????

An open house visitor asked: Which markets get the highest bids over asking?

What a great Question! We’ll dive into that tomorrow.

167 Views, 0 Comments

House Flipping in 2025: Margins Under Pressure

The LendingOne-ResiClub Q1 2025 Fix and Flip Survey highlights the cautious but ongoing activity in the home flipping market following the end of the pandemic-driven boom. While most flippers still plan to operate in 2025, they face increased regional challenges such as tight inventory, higher costs, looming tariffs, and financing hurdles. The Northeast remains competitive due to limited inventory and strong demand, whereas other regions cite different leading concerns such as borrowing costs and labor shortages.

  • 89% plan at least one flip in 2025; 64% will use fix-to-rent strategies.

  • 32% predict strong spring 2025 demand nationally

  • Top ROI renovation: kitchen…

494 Views, 0 Comments