Home Buying in Harrison>Question Details

Jenia, Renter in Stamford, CT

Why can coop's 2-bedroom apartments be listed for sale for a year or longer in Harrison, NY (in very good school districts, very safe areas,?

Asked by Jenia, Stamford, CT Wed May 30, 2012

etc.)?

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3
Its simple. The co-op market has been declining- not just in Harrison but just about everywhere in Westchester.
A big reason for this is that co-op boards are requiring 10% down or even 20% down.
If people can come up with that kind of deposit, many are instead opting to take that money and purchase a single family home where they can qualify for an FHA backed mortgage for as little as 3.5% down.
Please feel free to contact me if you would like more info or to explore your options.
1 vote Thank Flag Link Wed May 30, 2012
Hi: There are many reasons why real estate sits on the market for a long time. It all boils down to the ratio of the following: price, exposure, location, condition, seller motivation, & incentives to the buyer's agent & to the buyer. As soon as these items are properly in sync, the property will sell. With co-ops there is 1 more level of complication, which is the co-op board. Sometimes co-ops take longer to sell because the Board has rejected buyers. If you're curious as to why a specific unit hasn't sold, I'll be happy to try & explain it. Sometimes you have to be a bit of a detective to figure it out. Please call me at 914-273-9688. Sincerely, Michael F. Levy, Principal Broker, Grand Lux Realty. http://www.GrandLuxRealty.com.
0 votes Thank Flag Link Wed May 30, 2012
Much depends on pricing, supply and demand, co-op board restrictions, etc.
0 votes Thank Flag Link Wed May 30, 2012
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