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Spring 2008


REAL ESTATE

Deeds & Don'ts
By Lyn Peterson

INSIDE STORIES BEHIND AREA REAL ESTATE DEALS

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Just Duchy
You don't need a title to reside at Bayberry in Armonk, but this place has blue blood coursing through its veins so you might do well to at least affect a royal attitude. This circa 1930 estate is very Howard's End: impressive stonework, leaded glass windows, intricate plaster detailing, quarter-sawn oak floors and period fireplaces. The current owners of this 12,000-square-foot country manor piled a dowry's-worth into renovations, making its six bedrooms, six full baths and three powder rooms gleam. And with almost 14 acres at your disposal, you could go "motoring" without ever leaving home. It's listed with Barbara Greer and Brian Milton of Houlihan Lawrence in Armonk (914-273-9505).

A Still-Hot Market
Sometimes it seems that real estate is all about the sizzle and the steak itself gets overlooked. Perhaps real estate is not as sizzling as it was a mere nine months ago, but there are still a lot of beefy sales around and Westchester is proving to be a prime market.

According to Houlihan Lawrence, there were 305 homes sold last year in Scarsdale alone, with an average price of $1.8 million—all told, about $550 million. Century 21's Royal Scarsdale office saw no significant dip in sales for 2007, says principal George John, while Century 21's Fine Homes & Estates program has actually seen an increase in sales.

Foreign Affairs
This may be in part due to the influx of foreign cash into Westchester, though multiple opinions seem to exist on the matter. According to Prudential Centennial's global reach division, our area, like other wealthy communities on the East Coast, is seeing an unprecedented number of international relocations among Asians and Europeans who are taking advantage of the plunging dollar and the soft real estate market.

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