Real Estate Update December 2007

Single Family Home Sales in Rye (week ending 12/09/07).

• On the Market: 60
• In Contract: 12

Shop Talk

Ninety homes have sold in Rye over the past six months, as opposed to ninety five during the same time period last year.  Nineteen or 21% were under $1,000,000 for an average selling price of $824,216. Seventy one or approximately 79% were $1,000,000 or over, for an average selling price of $2,152,127.

*Information per WPMLS 6/8/07-12/09/07 RCSD & RNSD only.

Ex-Pats in Rye

International families choose Rye for the good schools, local amenities and the active "ex-pat" population here. I have been working with a few international couples recently and thinking about what resources they may be looking for to adjust to life here in Rye.

A great resource for international families is the expatriate group affiliated with Rye Newcomers Club and their monthly newsletter, EXPat Connection, written by Rye resident Jo Bryan.  This month, for example, there is information on monthly coffee hour meetings, programs at the Rye YMCA and Rye Recreation, where to find a local farm to cut down a Christmas tree and holiday recipes. Jo also puts out a pamphlet full of valuable local information for EXPat members. Membership has grown substantially in the past year to over 70 families. For more information, contact Jo at jo@bryanres.com.

Japanese families acclimate to the area using a slightly different approach, according to my friend and Rye resident Motoko Okubo. Generally, the Japanese corporation that employs the newcomer will connect the new family with a local contact, who will provide information for the area. The advice may include where to find Japanese groceries, information on obtaining a driver’s license and where to take English language lessons.

There are organizations in Rye tailored specifically for the Japanese Community including an active Japanese PTA at the Osborn Elementary School. My children love when the Japanese moms come into the classroom to present on Japanese culture and contribute delicious food for the Osborn Carnival. The Japanese owned real estate companies in the area also play a part in helping transferees and their families adjust to life in Rye, handling real estate transactions and property management duties.

I recently worked with an executive transferring from Mexico City whose family received assistance from Full Circle International Relocations. Some large U.S. companies in the area including Pepsico, IBM and Mattel contract Full Circle to provide pre-departure, home finding, and "settling in" services to their executives and their families.  The local Full Circle representative arranges school visits and information on public and private schools, is in contact with the real estate agent to help the family select the home and area, and perhaps most importantly, provides assistance with the necessities of American life – obtaining a social security card, opening a U.S. checking account, the purchase or rental of furniture and assistance with setting up gas, electricity and water accounts.

Although all the people I spoke with reiterated the primary reason they chose Rye was the quality of our school system, there are many local options for ex-pats who prefer an international school setting, including:

• Keio Academy of New York in Purchase
• German American School of New York in White Plains
• French American School of New York in Larchmont
• The Greenwich Japanese School in Greenwich, CT
• The International School at Dundee (offers a Baccalaureate program within Greenwich Public Schools)   

December Market update and article written by Judy Croughan, Licensed Realtor, Coldwell Banker Rye.