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Phil Reisman

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‘Interesting’, Only In The Confucious Sense Of The Word

March
3

Confucious once said, “May you live in interesting times.” That was a subtle curse.

So you know when a real estate brokers says this has been an “interesting year,” you know that means a lousy year since real estate brokers usually effect a sunshine view of things—even when the roof is caving in.

But that was the message from Patty Breen, an associate broker for Houlihan Lawrence, who recently mailed out a two-page sales pitch and/or frank assessment of the local housing scene titled, “2008 Marketing Report for Bronxville P.O.” This was interesting because I happen to live in the coveted 10708 zip code (in Yonkers) and because it also indicated that Westchester’s high-end market is finally beginning to feel a little bit of the pain that has already seized much of the nation.

In her missive, Breen said, “Our local real estate market has not gone unscathed by this economic crisis. Most notable, perhaps, is the ‘wait and see’ sentiment which has come to characterize the market.”

In other words, home-sellers around these parts are still in denial, thinking the prices will somehow return to the good old days of, oh, 2006.

Here are some stats:

BRONXVILLE PO

—27 homes old in 2008 (54 sold in 2007)

—Median price in 2008, $712,500 ($717,500 in 2007)

—Yonkers market down 22.5 percent.

BRONXVILLE VILLAGE

—35 homes old in 2008 (181 in 2007)

—Median price, $2.02 million in 2008 ($2.3 million in 2007)

Sales were also off in the co-op and condo market but prices held from 2007 to 2008, Breen reported.

This entry was posted on Tuesday, March 3rd, 2009 at 9:12 am by Phil Reisman.
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One Response to “‘Interesting’, Only In The Confucious Sense Of The Word”

  1. ed

    Ah, 10708! Lawrence Park West in Yonkers (Bronxville Improper) is truly one of the bargain gems (price and tax-wise) of Westchester, if it can be said that there ARE any such things in this county. The schools might give one pause, but what school system doesn’t give one pause these days? Even Bronxville HS gives many Bronxvillians pause. A Fitzgerald novel, a Cheever story, some khakis, a pair of Weejuns and a blue blazer, and it’s off to Andover and St. Paul’s!

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About the author
Phil ReismanPhil Reisman is a veteran journalist and native of Westchester County. He began his career in 1977 as the head copy boy of a startup New York City newspaper that quickly went belly up. Reisman was not to blame for the newspaper's failure, or so he claims.
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