Louis C.K. Lists His Restored 1901 Tudor Estate

The six-bedroom, 4.5-bath residence features six “meticulously restored” fireplaces, refurbished plaster, and a renovated kitchen with a butler’s pantry and blue-and-white checkerboard flooring. The heating and central AC systems are new. Highlights include formal living and dining rooms, space for an office, and a screened porch. Out back, there’s a new pool and hot tub. The property comes with a deep-water dock that can fit multiple boats. Read More


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July’s Real Estate Statistics for Westchester

New Listings and Median Home Prices had gains across all property types last month while the total amount of homes for sale continued to decline.

  • Single-family home sales in Westchester County saw a 6.6% increase in new listings and a 1.6% rise in closed sales, with the median sales price up 6.3% to $1,010,000.

  • Condos experienced strong growth, with new listings up 18.5%, closed sales up 30.5%, and a 16.7% increase in the median sales price to $525,000.

  • Cooperatives had mixed results, with new listings up 18.4%, but closed sales down 10%, while the median sales price rose slightly by 1.9% to $214,000.

Ralph’s Take

It’s…

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Where the Market Is Heading by Year-End

The view from Sailhouse in Tarrytown

Realtor.com® 2024 Forecast Update predicts that home prices and inventory will end the year with gains. Inventory is expected to grow as sellers remain patient, waiting for buyers rather than delisting. Despite high mortgage rates, median home prices are forecasted to rise due to a resilient economy and limited supply. The mortgage lock-in effect is easing, contributing to the inventory increase, while mortgage rates are expected to decrease slightly, potentially boosting homebuyer activity in the latter half of the year.

Additional Projected Points:

  • Lower Rates Finally Arrive: Mortgage rates to average 6.3% by end of the year

  • Home Sale Prices Continue to Climb:…

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Q&A: The Evolving Real Estate Landscape

Last week, I provided an opening explanation of The National Association of REALTORS® (NAR) settlement and the industry changes taking effect this month. Since then, I've received numerous questions from readers and clients, and I'll do my best to address the most frequently asked ones now:

Do buyers have to sign a broker agreement to look at properties?

  • Yes. Brokers are now required to have a signed Buyer Representation Agreement in place before showing any properties to a customer or client. This agreement may outline the broker's responsibilities, the range of services they will provide, and the buyer’s home search criteria, but it must clearly define the compensation the…

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Visual of the Week 

Consider the Long-Term Wealth-Building Benefits

Homeownership isn't just about having a place to live — it's a key to building wealth. As you pay off your mortgage, your equity grows, and any increase in your home's value adds to your net worth. According to the Federal Housing Finance Agency (FHFA), home values have increased by 315.7% since 1991.


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Kenneth Cole Lists his Estate of 37 Years for Sale

Introducing one of New York's most prestigious estates: a rare opportunity to own a historic piece of history elegantly nestled atop 14+ park-like acres in Purchase. This illustrious and stately turn-of-the-century residence, was the setting for the blockbuster film "Goodbye Columbus." For the last 37 years it has been the treasured home of Kenneth Cole and his family. A quiet country manor that's exceptionally private and secure, the estate is a stunning work of art, beautifully situated behind a gated entry at the end of a long, meandering driveway. Read more


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CoreLogic: First-Time Homebuyers at Higher Risk of Overpaying for Homes

Courtesy of CoreLogic

First-time homebuyers are at a higher risk of overpaying for homes due to appraisal gaps, according to a new report by CoreLogic. Appraisal gaps occur when the appraised value of a home is lower than the agreed-upon sales price. These gaps often lead to delays, renegotiation, additional payments from buyers to cover the shortfall, or even the cancelation of the sale. In June 2024, 8.6% of U.S. home sales were appraised below the contract price, down from 10.7% a year earlier. Here's the breakdown:

  • Starter Homes: 9.6% had appraisal gaps, down from 12.1%.

  • Homes of 3,500sf or More: 7.1% had appraisal gaps, down…

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How the New Rules of Real Estate Will Impact Buyers and Sellers

The National Association of REALTORS® (NAR) recently settled lawsuits regarding real estate commissions, agreeing to pay $418 million and implement nationwide changes to Multiple Listing Services (MLS) while denying any wrongdoing. Here’s what you need to know:

Sellers are prohibited from offering compensation on Multiple Listing Services.

  • Sellers still have the choice of offering compensation to buyer brokers, which can serve as a way of marketing the home or making the listing more attractive to buyers, but it cannot be included on the MLS.

Buyer representation agreements are required before touring homes.

  • The agreement…

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Mortgage Rates Plunge to Lowest Level in More Than a Year

Mortgage rates fell to 6.34% on Monday, the lowest since May 2023. Today, they’re at 6.54%, still showing a notable shift from last year’s peak of 8% in October and November, which significantly affected the housing market last year. The Mortgage Bankers Association’s (MBA) Weekly Applications Survey reports that mortgage application volume has now reached its highest level since January 2024. The Market Composite Index, reflecting mortgage loan application volume, increased by 6.9% on a seasonally adjusted basis from the previous week.

  • The 10-year Treasury yield dipped to 3.76%, the lowest since June 2023.

  • The 2-year Treasury yield slid to 3.88%, raising…

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Visual of the Week

Trying to decide if you want to sell or rent out your house once you move?

There’s a lot to consider – especially when it comes to figuring out if the profit is really worth the potential pains you might come up against. Pro tip: Talking to another landlord plus professionals (like me) can help you decide what’s best for you and your situation. Read more


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