Dear Allison,

I empathize with your dilemma which is that of many first time buyers from the city as I was many many years ago.

While we are prohibited from steering prospective buyers to one town or the other, Rye as many other communites are in demand for many reasons. As such you are attracted to this community. Have you toured the area or other towns that might suit your specific needs. Do you need an easy commute to NYC do you wish to be near to Long Island Sound, is it the downtown that attracts you to Rye? There are many towns that have similar feels and can provide homes in the price range you are looking.

There are different factors that affect each community ranging from the price point, inventory, need for people to sell etc.

There are values all over the county but nothing will ever have everything you are seeking. There will always be give and take.

I have worked with city dwellers searching in Rye but also do a great deal of work in other communites since I have many City clients. If you have specific questions, please feel free to reach out with no obligation.

Steve Geiger
Associate Broker
Houlihan Lawrence
914-328-8400 or 263-5275
sgeiger@houlihanlawrence.com http://www.houlihanlawrence.com/stevengeiger

We enjoyed five wonderful years in Rye and our 2 children loved the community and schools!!

I know personally there are some deals in Rye - we have a very nice home we have been trying to sell for over 1 year and have since moved out of the home. Still is for sale way under $1M so keep your eyes out for deals - they are out there. Lisa

Prices are so high for starter homes because there are so many programs that
let first time buyers start out with little if any down payment after they recieve DPA,
down payment assistance, which are govt programs such as CASA. These
programs are run by the local housing agencies, or sometimes by the state
housing agency in rural areas.

The unfairness of it kicks in when someone has been doing the old fashioned
thing like saving for a down payment. If you have liquid assets beyond a certain
amount, $4K in MN, then you no longer qualify for the govt DPA. Call it the penalty
for behaving responsibly.

Allison,
As previously mentioned their are alot of reasons why Rye is such a sought after town. While it may be frustrating to think you are paying more for the same square footage as other towns, there are 2 things to consider. First, just recently we are seeing more of an impact in prices in Rye area. While not dropping like some other parts of the country, the impact of this market is starting to lower some prices. This is great for a qualified buyer.
Second the fact that Rye has held its own in the face of a difficult economy shows you what a great investment Rye really is. The weaker communities within Westchester have been feeling this econmy for a while now. Yet the stronger communities have had modest declines in the face of one of the most difficult markets ever.
So keep your eyes open now and dont be afraid to keep a watch on specific homes. It does seem that some sellers who only weeks ago were saying "no way" to reductions are starting to realize you need to be ahead of the market to get things done today. If you have any questions about our town please feel free to contact me, as my office is in the heart of Rye.

Andrew Rogovic
Associate Broker
Prudential Rand Realty
29 Locust Ave
Rye, NY 10573
914-263-2743

Hi Allison, I understand your concern. I grew up and still live in Rye Brook (next town over) and would be more then happy to help eduacte you on the surrounding areas and what your money will buy. I specialize in helping first time buyers get focused. As for Rye, yes it is one of theose towns that retains its value. That part of the county along with areas like Larchmont you tend to get less sq footage for the money. Rye is highly sought after for many reasons, the commutation to the city, the quaint strip of purchase street, along with many other factors. You can definitely get homes in the range you mentioned, it mostly depends on your search criteria.

Please feel free to contact me if you would like to setup up a brainstorming session, no strings attached. As agents we are restricted form talking about schools. We can be the source of the source and guide you with the many resources available to buyers.

Sincerely,

Christopher Pagli
Associate Broker
Legends Realty Group
914.406.9023