THE WORLD READS WHITE PLAINS CITIZENETREPORTER — 8,324,077 VISITS IN ONE YEAR | 2,905,611 VISITORS VISIT 8,324,077 TIMES 3 TIMES EVERY DAY IN ONE YEAR. HIGHEST ACTIVITY IN WPCNR HISTORY.White PlainsCitizeNetReporter lifted its worldwide visits from unique visitors to wpcnr.com to 8,324,077,a 1,306,419 increase in visits in one year from 7,017,658 visits to the site last year which covers White Plains and Westchester County. The 8,324,077 visits were made by 2,005,611 unique visitors who visited wpcnr an average of 3 visits a day. ON JULY 20- -2026 visitors have accessed wpcnr and made 3,072 visits an average of 1.6 visits. In the last week 33,495 individual vistors made 54,458 visits, averaging 1.6 visits. In the last month, 152,940 visitors recorded 229,338 visits (1.5 visits)

Mayor Calls Special Meeting to Discuss Purchase of Ridgeway Country Club

Posted on October 22, 2010 by John Bailey

WPCNR CITY HALL CIRCUIT. By John F. Bailey October 22, 2010:

Mayor Adam Bradley has called a special meeting of the Common Council for next Tuesday at 7:30 P.M. at City Hall.

The notice from the City Clerk Office indicates there will be a “presentation” made to the council and the public on how the city could purchase the Ridgeway Golf Club in the posh Gedney Farms area, which is presently up for sale. The notice indicates there will a period for public comment.

Mayor Bradley told WPCNR in a brief interview Thursday evening Ridgeway Golf Club is still in play and “on the city’s radar” for acquisition. He said he could not disclose whether the city had made a firm offer on the club. WPCNR has learned from reliable sources that two other independent buyers are in play who were interested in operating the club as a private club. One buyer would scale back the operations of the club to make it more profitable, the source said.

Earlier in the week, prior to the notice of the Tuesday meeting, WPCNR learned the Council of Neighborhood Associations had formed an ad hoc Ridgeway Country Club Advisory Committee of 7 persons headed by Bob Meyerson, a professional mortgage broker.

The ad hoc committee was formed by CNA Co-President Lou Bruno who explained in his request for members of the ad hoc committee to present alternatives to the Common Council for preservation of the Club at the November 1 Common Council meeting.

The committee was suggested by Bob Meyerson, the mortgage broker, for the purpose of recommending whether or not the city should buy Ridgeway as well as the “highest and best use of the property as a whole.”

WPCNR asked John Callahan,the Mayor’s Chief of Staff, upon this development,if the city administration would take the Ad Hoc Committee’s recommendations and advice into account in their approach to acquiring the club. Callahan in a statement wrote WPCNR:”I’m sure the council will consider anything submitted to them.”

In a follow-up question to Mr. Callahan, WPCNR asked “Does that mean you, the Mayor, and Mr. Genito are not going to call them (the ad hoc committee) in and listen to what they have to say? Is that a correct interpretation of this statement?”

Callahan dismissed that interpretation in a followup statement, writing “I would not characterize it that way. If the committee has materials or information/report they would like to share with us we will certainly review it.”

WP Home Sales UP. High End Prices Erode. Low Stable. Condos $$ Plummet

Posted on October 21, 2010 by John Bailey

WPCNR TOWN & COUNTRY. October 21, 2010:

The White Plains housing market bucked the trend in Westchester County in the third quarter, with 67 homes changing hands, up 28.8% in the third quarter.

Westchester County sales grew 1.7% by contrast. However, while Westchester County sales prices advanced mainly due to high end luxury sales, the average city home price advanced 5.4%, indicating a buyer’s market.

Mike Graessle, soon-to-be President of the Westchester-Putnam Multiple Listing Service, said “Now is the time to negotiate if you are a buyer, if you’re a seller, you have to be prepared to negotiate.”

The third quarter sales were driven, according to the Multiple Listing Service Press Release issued today (having gone into contract in the spring)on the push for sales to get in under the wire for the first home buyer tax credit.

The average selling price of single family homes in White Plains continued to drop, according to White Plains market activities statistics supplied by Rand Realty.

Erosion in the Top End.

Stabilization in the Starter Market.

The average selling price of White Plains homes is $671,501 (inflated by 25 sales of luxury homes ranging from $700,000 to $1,500,000. No homes in White Plains sold for over $1.5 Million). On the other side other side of the price tag, there were 4 homes sold for $300,000 to$400,000; 12 homes sold within $400,000 to $500,000; 15 between $500,000 and $600,000, and 12 homes sold priced between $600,000 and $700,000.

Most of the low-end “starter home” sales, according to the Westchester Putnam Multiple Listing Service were the result of first homeowner tax credit stimulus credits the Obama Administration introduced in the beginning of 2010. The median price for White Plains homes sold in the third quarter is $610,000 up $10,000 over the third quarter of 2009, meaning prices are not going up substantially at this time.

Over the last year, October to October White Plains home sales rose 49.% from 144 to 249, while the average selling price this year dropped $16,000 in a year, and the median price ($575,000) fell $15,000. Real estate prices appear to be stable with sellers in the third quarter lowering prices an average of 3.7% from what they put their homes on the market. The city had 146 homes on the market as of October 1.

Coops Sales Swoon. Condos Steady as She Goes,Posh Condos Decline in Price.

On the Cooperative housing market, White Plains faired even worse than the Westchester Putnam trend which sustained a 30.5% drop in cooperative sales. In contrast to the region where co-operative sales declined 30.5% and 20 White Plains cooperatives sold from July through September, 14 fewer than last year’s third quarter. The average coop price fell 7.2% to $166,775, $3,000 less than the median selling price ($169,750). White Plains cooperatives trailed the county average selling price by $42,000 in the third quarter.

Over in condominium land, White Plains condos sold at virtually the same rate as they did in last year’s third quarter, 33 units to32 with the average selling price stabilized at $467,858, although the median selling price dropped $27,500 to $385,000, reflecting erosion of higher end condo prices.

Unemployed Rose in September in the Hud Valley

Posted on October 21, 2010 by John Bailey

WPCNR MARKETPLACE. From Jonny Nelson, New York State Department of Labor. October 21, 2010:

Change in private sector jobs since September 2009

Hudson Valley

Net change -5,900

Percent change -0.8%

Unemployment Rates (not seasonally adjusted)

Hudson Valley

September 2010 August 2010 September 2009

7.1% 7.2% 7.6%

Private sector employment in the Hudson Valley decreased by 5,900, or 0.8 percent, to 716,300 for the 12-month period ending September 2010. Employment gains were centered in leisure and hospitality (+1,100), other services (+1,000), and educational and health services (+600).

Losses were greatest in natural resources, mining and construction (-3,400), trade, transportation and utilities (-2,200), financial activities (-900), manufacturing (-900), and professional and business services (-700).

The government sector shed 3,100 jobs over the year.

Analyst’s observation:

The region lost 0.8 percent of its private sector jobs for the 12-month period ending September 2010. This was a marked improvement from the 4.1 percent decline recorded in September 2009.

More industries are starting to report over-the-year growth. Newly-announced expansions this month offer hope to local area jobseekers. However, the region’s over-the-year rate of private sector job change (-0.8 percent) continued to lag the state (+0.5 percent) and the nation (+0.5 percent) in September.

Co-0p, Condo Sales Fall off Cliff. Luxury Homes Still Going and Going and Going

Posted on October 21, 2010 by John Bailey

WPCNR OPEN HOUSE. From the Westchester-Putnam Multiple Listing Service.(EDITED) October 21, 2010:

Westchester total housing sales declined 5.4% in July-August-September, with Co-0p sales plunging 30.5%, condominiums, 2.5%. High-end single family homes sales increased 2.2% as prices of the high-enders eroded and consumers cherry-picked the glamour homes.

The Multiple Listing Service attributes the condo slump (the least expensive housing type) to the disappearance of the stimulus program from Washington.

The level of all residential sales in third quarter recalled “(sales) levels that were last experienced in the pre-boom mid-1990s,” according the Listing Service news release, that maintained an upbeat message, “when 2010 is viewed in its entirety, year to date…the year-end projection based on the entire nine months points to a performance that is closer to a healthy 7,000 unit sales.”

Total residential sales through nine months were down 5.4% in Westchester County and 23.7% in Putnam County.

The Listing Service concluded that the median sale price increase of over $100,000 to $730,250, was from properties selling for $1,000,000 or more, which “are recovering faster than the rest of the market and is taking up more space in the basket of sold properties…driving up the median and mean price statistics. Million dollar properties accounted for 20% of all sales. In the third quarter the dominance of million dollar mansions and up increased share to 28%. The Service noted that prices in the luxury market have declined 3%, leading to bargains.

The median sales price in the regeion (meaning half the sales sold for more, half less) grew to $591,000, but Listings cautions, “within the moderate price range of sales there was a tilt of sales activity toward the more highly priced properties.True price appreciation was in the 1-2% range (for lowend, starter properties.

Westchester sales in 2010 through nine months were 5,182, 31% more than 2009, and equal to 2008 sales of 5,212.