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Armonk: Country Living in Westchester NY

Armonk, N.Y., is tucked away in a rural section of northern Westchester County near Kensico Lake, surrounded by woods, nature preserves and golf courses. It is a great match for outdoor lovers wanting easy access to fishing and hiking trails



Homes in the area tend to be large, especially the newer ones. And average lot sizes for homes run between two and three acres.

But the relative seclusion and privacy of Armonk comes with a price. It is one of the more expensive areas in the county. Armonk also draws new residents from Manhattan and southern Westchester who come for the country surroundings and the well-regarded public schools but want to stay close to urban comforts like fine dinning and shopping, brokers in the area say.


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Armonk's Wampus Brook Park, one of several parks in the area, offers fishing and rowboating and also has picnic grounds.

Armonk is a hamlet in the town of North Castle, which also includes North White Plains and Banksville. It borders Chappaqua, N.Y., and Greenwich, Conn. Armonk is about 35 miles from Manhattan and a 35-minute commute into the city from the Metro-North station in White Plains.

There are quaint shops and restaurants in Armonk's downtown area. Shopping also is plentiful in nearby White Plains.  Yet you are only 10 minutes from any type of city environment.

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The town of North Castle was originally incorporated in 1788. During the 19th century, it was mainly a farming town. Around the turn of the century rich families from New York City came to establish country estates.

The current housing stock in Armonk is a mix of older houses and newer homes built during the 1990s and 2000s. The architecture styles include colonial, modern and a few Tudor homes.

During the late 1980s and the 1990s, more young families started moving into Armonk as new homes became available. "It was like a secret little hideaway, and now people know about it, because it's a great place to live," said Peggy LaSala of Houlihan Lawrence who lived in Armonk for 20 years.

Large employers like International Business Machines Corp. and MBIA Inc. are based in Armonk, which helps keep the property taxes comparatively low for homeowners, brokers say.

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Main Street's shops and restaurants in the hamlet's downtown area

"They are about as good as you will get in Westchester County," Ms. Maddock said.

The current average asking price for Armonk homes is $1.85 million, according to real-estate site Trulia. In Chappaqua to the west, the average is $1.48 million, and in Valhalla to the north, it is $650,000, according to Trulia.

Some of the larger homes in Armonk have asking prices approaching $7 million. There is a 9,000-square-foot home on Whippoorwill Road currently on the market for $6.995 million. The huge brick colonial home has six bedrooms and 7½ bathrooms and sits on a 20-acre lot. The home comes with a greenhouse and heated pool.

There are also a few newly constructed homes on the market. On Evergreen Row, there is a new colonial home with five bedrooms and 4½ bathrooms situated in the Windmill Farm section of Armonk. The home measures 5,400 square feet and is on a two-acre lot. It is on the market for $2.695 million.

Mortgage News Daily

  • Builder Confidence: Strong but Unchanged, Material Costs Rising

    Posted To: MND NewsWire

    As analysts had expected, the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) remained at 68 this month. The reading still indicates a strong level of builder confidence in the new home market, but the HMI has been relatively static for months, moving within a two-point range, 68 to 70, since March. NAHB surveys its new home building members monthly on their attitude toward the market. They are asked to grade their perceptions of the current market and the market they expect over the next six months as "good," "fair" or "poor." The survey also asks builders to rate traffic of prospective buyers as "high to very high," "average" or "low to very low." Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates...(read more)

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  • Builders Heeding Advice to Go West. Or South

    Posted To: MND NewsWire

    The National Association of Home Builders (NAHB) has plucked more information from the Census Bureau's Survey of Construction (SOC), this time to paint a portrait of the state of residential permitting nationwide. Danushka Nanayakkara-Skillington writes in NAHB's Eye on Housing blog that permits for single-family construction issued during the first five months of the year were up by 8 percent over the same period in 2017. The National Association of Home Builders (NAHB) says the nationwide total for the period is 363,327 compared to 336,410 for the year-to-date (YTD) through May 2017. The activity however, was skewed toward the West and the South. Permits were issued at a similar seasonally adjusted annual rate in May of 363,700, an 8.6 percent year-over-year increase. The Bureau will issue...(read more)

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  • MBS Day Ahead: 2018 Rate Hike Odds Provide Backdrop For Powell Testimony

    Posted To: MBS Commentary

    Fed Chair Powell begins 2 days of semi annual congressional testimony today with the Senate Banking Committee at 10am. In recent years, this testimony has devolved into laughable political theater, mostly. That said, today's has a few redeeming qualities. First off, the Senate session tends to be slightly less theatrical than the House version coming up tomorrow. Beyond that, we know from Powell's previous congressional appearances that he tends to navigate the political posturing with more grace than Yellen--something that tends to help move the legislative blowhards through their grandstanding more quickly. Finally, despite all the theater, the fact remains that this is a venue for the Fed Chair to answer unscripted questions. Therefore, there will always be big market movement potential...(read more)

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  • Sales and Broker Products; Freddie and Fannie Updates

    Posted To: Pipeline Press

    “What can be asserted without evidence can also be dismissed without evidence.” While you ruminate on that one, there continues to be evidence and reminders that potential home buyers are having trouble coming up with “skin in the game,” aka, a down payment. It would take an average of 36 years for someone earning the median income in D.C. to save for a 20% down payment on a median-priced house, according to a recent report from U.S. Mortgage Insurers. Still, try being a teacher in San Francisco earning $70k/year saving up for a median-priced $1.6 million home. Capital Markets Rates? Every day, a little up, a little down , although many days borrowers wouldn’t notice the difference on rate sheets. Yesterday they went up a little bit as bond prices dropped (there’s...(read more)

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  • MBS RECAP: Slightly More Active Than a Typical Summertime Monday

    Posted To: MBS Commentary

    Summertime Mondays are notorious for light volume and seemingly random trading. Today was a slightly more active than normal in that regard, largely due to the presence of top tier data (Retail Sales) and a geopolitical event in the form of the Trump/Putin summit. The latter was never expected to offer any major revelations, but the former is always capable of delivering some bond market momentum. Bonds were just slightly weaker heading into the Retail Sales numbers. The weakness continued after the report came out stronger than expected. But wait! It was 0.5 vs 0.5, so how was it stronger than expected? The key difference was in the revision to last month's report (previously 0.8 but now 1.3%). The "core" sales reading was also revised higher. Additionally, several GDP estimates...(read more)

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  • Mortgage Rates Edge Higher

    Posted To: Mortgage Rate Watch

    Mortgage rates fell to their lowest levels since late May as of last Friday. Today, then, would be the 2nd best day since late May. Rates edged slightly higher to begin the new week as bond markets (which underlie rates) came under modest pressure for several relatively inconsequential reasons. The net effect was a small adjustment in the upfront costs associated with prevailing rates. In other words, the actual interest rate governing your monthly mortgage payment hasn't changed in weeks, but the upfront costs tied to that rate are slightly higher for lenders today compared to last Friday. Loan Originator Perspective My clients and i continue to favor locking in once within 30 days of closing. Only loans i would consider floating would be those that can lock on a shorter time tomorrow or if...(read more)

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  • MBS Week Ahead: Another Week, Another Chance to Run Same Old Play

    Posted To: MBS Commentary

    This is the off-season for bonds, but they still have to show up for the game every day. The coaching staff (aka the traders turning the cogs of the underlying bond market) have been running the same play every day since June 27th . It's a play that's been working on both offense and defense, thus providing an easy button for the entire team (even if it's also a "boring button"). No one gets hurt, and no one has a ridiculously good time--typical off season. So what's the play in question? Simply put, bond market players have been tasked each day with playing harder and harder defense whenever yields rise toward 2.88. On offense, they only push hard enough to get yields to 2.825, as seen on the following chart with numerous bounces on the lower teal line. I included...(read more)

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  • Broker Products; Blockchain Transaction; Input on DACA Loans

    Posted To: Pipeline Press

    When Costco rolled out its mortgage option to members, many lenders were very concerned. But despite great potential, Costco/First Choice has not become the #1 lender in America. I heard something interesting last week: Costco doesn’t make much money selling products, it makes all profits from membership fees . Despite Bank of America’s great quarterly results this morning, lots of lenders aren’t making much money selling their products either, unfortunately, and the number of residential lenders who haven’t adjusted their headcount, compensation plans, or business models in reaction is dwindling . (The latest example is job cuts at State Farm .) If a branch or channel hasn’t been profitable for a while, ask what’s going to happen, if anything, to reverse...(read more)

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  • Permit to Completion - Builder Timeline Depends on Where and Why

    Posted To: MND NewsWire

    Despite complaints about labor, lot, and material shortages, builders needed no more time to build a home last year than they did in 2016. The time did increase compared to 2015 by about two weeks. Using data from the Census Bureau's Survey of Construction (SOC), the National Association of Home Builders (NAHB) concludes that the average time to build a single-family house was 7.5 months. The actual building time was about 6.5 months following a typical delay of around 30 days after the permit was authorized. Data from the 2015 survey showed the time from permit to completion at 7 months. The range however is wide, from less than a month to more than 6 years. Much depends on who is building the house, for what purpose, and where. , writing in NAHB's Eye on Housing Blog, says that houses built...(read more)

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  • MBS RECAP: Bonds Gain Despite Data Surprise and Stock Rally

    Posted To: MBS Commentary

    Before any discussion about market movement in July, we have to set the stage with some disclaimer about "slow summertime trading." That was the subject of this morning's commentary ( read it here , if you like). With that out of the way, we're equipped to pay the appropriate amount of attention to today's seemingly interesting events. First up, we had a reasonably strong move in European bonds overnight help set a mildly positive tone for the start of domestic trading. The biggest volume spike of the early morning came at 8:30am in response to the Import Price data, which came in much lower than expected. Bond yields/prices, themselves, only moved a bit, however--a fact that likely reflects the nearness of yields to the lower end of their prevailing range. The other notable...(read more)

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Bonnie Koff  |  Licensed Associate Real Estate Broker  |  William Raveis Legends Realty Group  | Tarrytown Office 
914-332-6300  |  37 Main Street, Tarrytown, New York 10591  |  Email