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Old 06-18-2010, 09:03 PM
 
Location: Bellevue, WA
1,497 posts, read 4,439,345 times
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What is the general consensus on raised ranches? We saw a house in a great area, but it is a raised ranch and we are concerned about resale. I know it is a newer style, but is it an accepted one, or do people avoid them? Does it vary by area (ie. OK in more middle-class areas but impossible to move in areas like Scarsdale, Larchmont, Rye?)

Also, what is the general feeling on where the market is heading? I know it has dropped a bit from 2006 but since there is so little on the market, many move-in ready houses seem to be getting multiple offers. Thanks.
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Old 06-19-2010, 05:43 AM
 
1,594 posts, read 3,553,792 times
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Originally Posted by jjinla View Post
What is the general consensus on raised ranches? We saw a house in a great area, but it is a raised ranch and we are concerned about resale. I know it is a newer style, but is it an accepted one, or do people avoid them? Does it vary by area (ie. OK in more middle-class areas but impossible to move in areas like Scarsdale, Larchmont, Rye?)

Also, what is the general feeling on where the market is heading? I know it has dropped a bit from 2006 but since there is so little on the market, many move-in ready houses seem to be getting multiple offers. Thanks.
Remember the three rules of real estate: location, location, location.

I think a raised ranch or split is fine as long as it's priced like a raised ranch or split. Also recognize that there's probably a price ceiling to those houses that's below a full-blown McMansion and above a Cape.
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Old 06-19-2010, 09:00 AM
 
Location: Yorktown Heights NY
1,316 posts, read 5,171,686 times
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Quote:
Originally Posted by jjinla View Post
What is the general consensus on raised ranches? We saw a house in a great area, but it is a raised ranch and we are concerned about resale. I know it is a newer style, but is it an accepted one, or do people avoid them? Does it vary by area (ie. OK in more middle-class areas but impossible to move in areas like Scarsdale, Larchmont, Rye?)

Also, what is the general feeling on where the market is heading? I know it has dropped a bit from 2006 but since there is so little on the market, many move-in ready houses seem to be getting multiple offers. Thanks.
I'd say the market has dropped a lot more than "a bit" from 2006 in Westchester. I don't think there is a corner of the county where prices haven't dropped 25% to 30%. This spring market was, from what I've seen and read, a lot more active with lots selling. And I've recently seen cases of houses going very quickly and selling for over asking--but there are still plenty of houses sitting on the market for long periods of time.

For ranches, I think they do better in non-ranch areas where they represent a cheaper than normal entry to a market. A ranch on a street of ranches is going to have a really hard time selling, especially in this market. But a ranch in a desirable area or with a great property is going to appeal to people who can't afford "nicer" homes in that area or with an equivalent property.

Also, ranches can be renovated to be quite nice. Friends of ours have a ranch in our area, which they bought because it has 4 acres with great views and gorgeous rock outcroppings. They pretty much gutted it and redid it and it is gorgeous inside--you totally forget it is a ranch. I think ranches are more appealing for that reason than split-levels, since you can't un-split a split.
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Old 06-19-2010, 07:15 PM
 
Location: Near the Coast SWCT
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3BR Raised Ranches in CT going for around $410,000 on half acre. 2400sq ft including basement. Awesome neighborhood area. Taxes around $6500 per year.
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Old 06-19-2010, 07:28 PM
 
Location: Bellevue, WA
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Trust me, snowman, if I could bring hubby to do CT, I would in a heartbeat. But, the schools are terrible outside of Greenwich and Darien, and he won't do anything more than 45 minutes on the train. I can't even get him to P'Ville!
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Old 06-19-2010, 09:24 PM
 
Location: Near the Coast SWCT
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Originally Posted by jjinla View Post
Trust me, snowman, if I could bring hubby to do CT, I would in a heartbeat. But, the schools are terrible outside of Greenwich and Darien, and he won't do anything more than 45 minutes on the train. I can't even get him to P'Ville!
I have a friend the same way...and i will never understand it....I commute by car to Westchester every day for work...Yes traffic is stressful but who cares you come home an hour late when you get to keep all that money in your pocket at the end of the week!

Friend paying $15,000 in taxes each year when same home 25 minutes in CT would cost him $7000. Thats an extra $583 in your pocket EACH MONTH!

I asked him once, what he would you do with an extra $8,000 in his pocket Every Year? I stumped him. Im sure he thought about being with his "family", kid and wife, on vacation somewhere, or paying off a car, or bills, or investing, or buying a new car.....or changing roofs on the house each year.....

He was stumped...But I'm the one that will always be speechless and never understand it..
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Old 06-19-2010, 09:25 PM
 
Location: Near the Coast SWCT
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And home schooling is better than government schools anyway. There's always private schools in CT
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Old 06-19-2010, 09:53 PM
 
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Raised ranches are definitely at the bottom of all the sytles of houses. They are purchased because buyers want to live in a particularly community, and either the RR is all they can afford, or they want more for their money in terms of space.

And despite what a real estate agent might tell you, the lower level is basement space.
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Old 06-19-2010, 11:12 PM
 
Location: Bellevue, WA
1,497 posts, read 4,439,345 times
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Ruby, I feel the same way about RR's. They sound bigger, but they really aren't because they 'count' the lower level/basement, whereas you don't on any of the other houses. I realize some might actually use that level, but my kids are so young that they are many years away from being able to be a floor away from me if I have to cook, clean the main floor, etc. Plus, I hate that you have to go into the basement to get out back.

For us, it is a question of quality of life over money. We can afford to live in WCH vs. CT, and that extra 30-60 minutes a day is sometimes the difference of my hubby seeing his kids during the week, or not at all. And despite his demanding job, he lives for our kids. So, we may be able to retire with more money in the bank if we lived in CT but he can never get back time with our kids. Or so he says now! As for private school, we'd be paying $15K-30K+ per kid in CT...a $20K tax bill in Scarsdale would be a bargain. And homeschooling...shoot me now! I can't even get them to sit still to get dressed.
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Old 06-20-2010, 06:54 AM
 
Location: Near the Coast SWCT
83,285 posts, read 74,525,174 times
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Originally Posted by jjinla View Post
For us, it is a question of quality of life over money.
Thats the other thing I'll never get.... meaning of quality... For sure air quailty doesnt fit into that.

Anyway - best of luck - I and many people wouldnt move back to Westchester if you paid me and paid for the home and taxes. It's the quality and way of life I like about CT. You dont get that chip on shoulder from people, businesses, and employees like in WCH...Not good for kids to grow up with.
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