Values look good in the greater Riverdale area of the Bronx! Value is the prime factor

Value is the prime factor: More to the point, the Bronx offers the best booty 'n bounty for the right savvy bargain hunter at the ready. The summer of 2009 will be remembered weatherwise as the summer that never sizzled. Strange tropical showers, cool hazy lazy days, traditionally a quiet and slow time for the real estate market, except no, not for this year...Greater Riverdale, the Bronx is steaming hot, and in a good way! The Bronx is drawing on its substantial value factor; it's the best value in today's New York City market. A good price simply does not mean a good value. A value is by definition, the location, building, condition, size, amenities and price-we're now talking about greater Riverdale where recently reduced and value properties are being grabbed up. For example newly constructed condos that have not sold in the last year are now being rented with option to buy and added incentives. Single-family and multifamily houses have now adjusted their asking price by substantially reducing original prices, often more than 30%. The established luxury coops, especially larger three-bedroom apartments with river views are holding strong compared to smaller units in non-doorman buildings. Nevertheless everything is getting snapped up this summer for many reasons. Many first-time home buyers are looking to escape expensive rentals or there are those who have not owned a home during the past three years (having cashed out at the height of the real estate bubble) and are eager to put the newly-enacted "American Recovery and Reinvestment Act of 2009" tax credit legislation to work for them now. The available credit amount is up to $8,000 and must be applied for before December 1, 2009 so lookers must be ready, willing and able to close in the next three months. Greater Riverdale has value. With the influx of empty nesters, retirees, change of life boomers and the budget-conscious, newly married it's hard to find a seat at Riverdale's varied multi-ethnic eateries with tastes of Italy, India, Japan, China, Israel, Greece, Ireland, Thailand and Mexico. There are old fashioned Jewish delicatessens, Glatt kosher gourmet restaurants, and yes, classic American dines as well as Starbucks, Dunkin' Donuts, Subway and the family-owned and operated pizza shops. All seem to be packed for the breakfast specials, business lunch menus, early bird/senior dinners and now 50% off and two for one cocktails at happy hour. Yum, yum good-what a deal! Riverdale now enjoys three premier local "restaurant row" destinations recalling the nostalgia of the Bronx of the 1950s and 60s. Stroll, schlep, boogie on down or as many old-timers do after a meal, just hang out on the corner-almost like being in a memory lane of flavors and scents traced back to the spirit of a sweet simpler stress free time...before the walk home. Yes, just like in Manhattan, people choose to walk home, and it's a green thing to do too. Keeping retail local, there'll be something new for everybody with the continued expansion in the Riverdale/Kingsbridge business districts. There are now rumors of another national discount department store to be built in a new multi-purpose mall only blocks from the Target and Marshalls River Plaza Mall. Forgoing the high end national merchants in this new "saving" oriented economy, consumers are eschewing the status of chic consumerism and now are inclined to be practical, penny wise and street smart. Saying that-the Bronx now has twelve major locations for shopping, outdoor or indoor malls plus BJ's is opening soon, too. Whew, no more trips out to New Jersey. Value is about more than just price in today's REAL real estate market-It's as always-The Location: The north/west Bronx: Riverdale, Kingsbridge, Fieldston and Spuyten Duyvil for the Best in Quality, Value and Solid Futures! We're waiting to welcome you! Susan Lynne Seidner Chasky, GRI, ABR, SRES, is the senior vice president and an associate broker of Halstead Property Riverdale, Bronx, N.Y.