are prices set to come down more on homes in Rye over 2009- prices seem way over based on flood zone?

Asked by Sean Byrne, 06831 Mon Mar 23, 2009

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Steven S. Ge…, Agent, White Plains, NY
Thu Nov 3, 2011

It has been said before that none of us has a crystal ball as to where prices are going. However, prices in any comunity is a reflection of each individual property, its location and condition. Rye is a popular area because of it proximity to water and the easy commute to New York City among other thing. Also, the area prices can vary depending on what happens with the economy and employment, particularly in NYC. Flooding has always existed but as long as owners think the positive aspects outway the negative, prices should be stable. Unfortunately, the economic variables can create blips in either direction.

Steve Geiger
Associate Broker
Houlihan Lawrence
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Gladys Viru…, Agent, Scarsdale, NY
Mon Jun 20, 2011
Have no fear, prices are hard to determine in which direction they are going however we see an upward trend this last quarter. There are still great deals out there. Call me to get started..

Gladys 914 589 2455

Gladys Viruet
Keller Williams Realty Sales Associate
Mobile: 914 589 2455
Fax: 914 713 3271
Office: 914 902 3277

2nd largest Realty in the country!
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Andrew Rogov…, Agent, Rye, NY
Mon Mar 23, 2009
Nobody can tell you where prices will be short or long term. The hope of course is that we are starting to see some changes in this economy and that the new presidents actions will help create stability in the housing market.
More specifically for Rye, I think you have to discard the notion that parts of Rye lie in flood zones as a reason for prices to come down. Rye has always been in the same location and historically been one of the most sought after communities in Westchester County. That being said I think it is more beneficial to base Rye future value based on specific homes and their prices as well as your thoughts on where the housing market for the Westchester area will be.
Personally I see alot of buyers starting to look again and making inquiries on properties. I wont go so far as to suggest this market has turned but I do think alot of buyers are out there and are starting to get more comfortable where we are in this market cycle. That being said I think you will see alot of "tire" kickers as well as low offers in the upcoming months and then based on need a bit more aggressive of an approach for those that need to buy before new school year starts.
If you have any questions about Rye or the surronding areas please feel free to contact me I am a Rye based agent who has lived in the area for 25 plus years. Good luck with your home search.

Andrew Rogovic
Associate Broker Prudential Rand Realty
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