i'm considering buying in a new condo in hastings on hudson at 45 main street. the condo is apx 1800 square

Asked by Kathy Kettles, Hastings on Hudson, NY Mon Jun 16, 2008

feet and taxes and cc are about 1450 per month all together. The asking price is 880,000 and I would like to make a bid that reflects the risk of buying as well as any decrease in prices for the market.

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Debra Goodwin, Agent, Irvington, NY
Tue Jun 17, 2008
Dear Kathy,

I think you need to establish first if it is a fair asking price based on the present market. That would be based on the number of bedrooms, bathrooms, parking, is there a view of the Hudson River, and are there other services or ammenities. You also need to consider how many other units have sold in the building, how much they sold for and what would be a fair comparable in the Hastings area. There are some townhouses in hastings with riverviews, (not brand new) that are presently selling for in the low to mid $600,000's. Last year at this time They were selling for the mid $700,000's.

I hope this helps you, Hastings is a great little village!

Debra Goodwin
1 vote
Rick, Home Buyer, 10601
Wed Mar 25, 2009
I came across your question. Did you end up buying it? I'm currently looking at a 1 br there that is being offered at 600k. It would be very helpful to know how much they came down on their offer.

Also, for any brokers on here. I'm a little scared to the fact that it is a 1 br and how easy it would be to one day resell it. If anyone has any input, I would appreciate it.

0 votes
Laura Higgin…, , Sebring, FL
Tue Feb 3, 2009
You can reference an article I just posted on my blog regarding negotiating an offer at http://www.laurahigginsrealestate.com/
It will give you some suggestions on how to determine fair market price, how to begin negotiating, and I would also recommend hire Realtor, who is going to represent you and your interests.
Good Luck to you
0 votes
Steven S. Ge…, Agent, White Plains, NY
Mon Jun 23, 2008
You should have a professional assist you in providing you comparables in order to make an educated offer. Buying a home is much different than investing in financial instruments. There is never a bad time to by but more imortantly how long you intend to stay in the property. It is impossible to time the exact bottom or top of any market. While sales in the number of units are down by appoximately 30% compared to 1 year ago, prices are down only approximately 3-4.5% on average. There are many statistics that we have at our disposal to guide you to make an educated decision.
If yoou need further information, I can be reached via email or via telephone at sgeiger@houlihanlawrence.com or 914-263-5275. Feel free to check my bio or website for more helpful information.

Good Luck!!
0 votes
Phyllis Lern…, , Sleepy Hollow, NY
Wed Jun 18, 2008
Dear Kathy,

I would recommend to hire a "Buyer's Agent" helping you with your purchase... he or she will be able to help you with all aspects of securing your new home... there is no additional cost to you since the agent will be reimbursed by the seller... BUT this "Buyer's Agent" works for strictly you and has only your interests in mind... hence the term "Buyer's Agent"... and if you buy nothing the agent gets nothing... furthermore your agent can give you alternative listings and can show you these other properties as well...

Please do not hesitate to call me at 914-438-7556 if you want to explore this further... and check out my web site at http://www.westchester-real-estate.us for more detailed information...

Phyllis Lerner
Associate Broker
Legends Realty Group
0 votes
Charles Cinq…, Agent, Scarsdale, NY
Tue Jun 17, 2008
Dear Kathy, 45 Main St is known as the Riverton Lofts. Brand New Eco-Friendly Condos. I am an EcoBroker certified agent so I followed this building. One of the best features is the geo-thermal heating they have supplied in all the units. They were using a friendlier blown in insulation, high efficient appliances, and high efficient windows. The flooring was to be a bamboo style. Not sure how that was completed. So, as you consider this purchase, you will not have any real comps to make a judgement. The Lofts should be considerably less to heat and cool everyday. If I have peaked your interest, please feel free to call me and I can discuss costs and savings with you. Check the URL for info on my EcoBroker expertise. Enjoy!

Charles Cinquemani,
Prudential Centennial
0 votes
Zack, , Westchester County, NY
Tue Jun 17, 2008
Kathy, I'd verify those taxes and common charges too. Hastings consistently has very high taxes and < 1500/mo for taxes and common charges seems awfully low. Also, nearly every zip code in westchester county has been labeled a declining market so you may be required to put more that 20% down. Other than that, I have nothing to add to Debra's answer below, which is very good.

0 votes
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