I suppose this strange dichotomy has existed for years here in Sullivan County, but I think like everything that makes SC different as a “tourist” spot , this relationship is a little strange, and sort of passive-aggressive. In comparison to locals in the Hamptons, or the Jersey Shore, or further up, where the hostility is a little more apparent, and such nicknames as Cidiots and Massholes, Full-timers here in SC, I think are a little more protected from the influx, so the annoyance is kept to a minimum.
Though, as the internet has made the world smaller, I think in some ways it has brought this clash a little more to the forefront. Most (much livelier blogs) have this undertone, and as issues like gas-drilling and property taxes are discussed, it becomes more apparent. Full-timers feel it is a necessary evil, and put up with a crowded Delaware, less parking, longer lines at the movie theatre in town, or the grocery store, because our sluggish economy is driven by the weekender. Right now estimates are between 30-40% of our money for public schools come from the pockets of people who do not claim SC as their primary residence. That is a huge portion, and really shows how dependent we are on the weekender.
On a whole other level, the Hasidic community is more openly frowned upon and muttered about. The rumors that they do not pay taxes, seem to pave the way for this dislike. (Which according to those in the know, simply isn’t true. The property that is off the tax roll is minimal.) At any rate, what is true is that their bungalow colonies do tend to be run down and in disrepair. Our townships need to do a better job of keeping those communities up to code. I also think that they simply stand out which makes them a target, and the influx, from Memorial Day to Labor Day is so apparent, it helps fuel the dislike.
Not sure where I am going with this, just an observation I had. I suppose neighborly resentments have been a staple of any community forever, and ours is no different.
But in some ways it is different, and mirrors the County. Even this sort of dispute you can enter into only when you want. Or, you can choose to just keep to yourself, and enjoy springtime in the Catskills.
Thursday, April 22, 2010
Monday, April 19, 2010
Bad Blogger Once Again
It has been pretty busy the last few months. Being a new father of course adds to that, and takes some time away from such things as blogging, but I was updating my website, and wanted to update in here as well.
Spring is in the air, and it has brought buyers with it. My last post with the four lake access properties? Three currently are in contract, and the fourth has had a parade through it this weekend. (Listing agents words, it is not my listing.) This does prove that the right properties at the right price will go quick.
I think that is why in this market, it is more important than ever for a buyer to get hooked up with a broker who knows the market, and what is going on. There are so many over-priced-look-good-in-the-picture listings, that I think there are some buyers out there who, after going out hunting a few times, have given up. In my experience the magic number is three. If I can't find a motivated buyer what he or she wants in three trips, the invariably seem to shift gears. Not so much stop looking, but slow it down, start thinking about other areas, etc.
Everyone is different, so there is no way for me to guarantee that I can find a buyers something they will like, but it really doesn't take a rocket scientist to see a property, and know it is a good deal, and could potentially be attractive to quite a number of buyers. That is why when a good listing that is not mine goes into contract, I always get a little twinge. Missed opportunity. 726 North Branch Road comes to mind. Love that old boarding house. Heard just this weekend there is a deal on it.
But in someways, I think this malaise, and this general feeling that Sullivan real estate is crappy and overpriced, is the Realtor's fault. Although now, the under trained, and under motivated are dropping like flies, there is still the part-timer, seat of their pants agent out there, showing on weekends, without a good feel for the market.
I'm not putting anyone one down, I am addressing the possible buyers out there, agents get a healthy chunk of cash for selling a home. Just make sure they are qualified, and they are willing to work hard for the money. What would you pay for 3 to 4 thousand dollars? In no other business is there the possibility of getting paid so much for doing so little. That is what drove the NAR numbers to new records during our version of the gold rush. Well now the big nuggets are gone, but the fervent ones are still sifting through the sand for the smaller pieces. Those are the kind of agents you want.
Spring is in the air, and it has brought buyers with it. My last post with the four lake access properties? Three currently are in contract, and the fourth has had a parade through it this weekend. (Listing agents words, it is not my listing.) This does prove that the right properties at the right price will go quick.
I think that is why in this market, it is more important than ever for a buyer to get hooked up with a broker who knows the market, and what is going on. There are so many over-priced-look-good-in-the-picture listings, that I think there are some buyers out there who, after going out hunting a few times, have given up. In my experience the magic number is three. If I can't find a motivated buyer what he or she wants in three trips, the invariably seem to shift gears. Not so much stop looking, but slow it down, start thinking about other areas, etc.
Everyone is different, so there is no way for me to guarantee that I can find a buyers something they will like, but it really doesn't take a rocket scientist to see a property, and know it is a good deal, and could potentially be attractive to quite a number of buyers. That is why when a good listing that is not mine goes into contract, I always get a little twinge. Missed opportunity. 726 North Branch Road comes to mind. Love that old boarding house. Heard just this weekend there is a deal on it.
But in someways, I think this malaise, and this general feeling that Sullivan real estate is crappy and overpriced, is the Realtor's fault. Although now, the under trained, and under motivated are dropping like flies, there is still the part-timer, seat of their pants agent out there, showing on weekends, without a good feel for the market.
I'm not putting anyone one down, I am addressing the possible buyers out there, agents get a healthy chunk of cash for selling a home. Just make sure they are qualified, and they are willing to work hard for the money. What would you pay for 3 to 4 thousand dollars? In no other business is there the possibility of getting paid so much for doing so little. That is what drove the NAR numbers to new records during our version of the gold rush. Well now the big nuggets are gone, but the fervent ones are still sifting through the sand for the smaller pieces. Those are the kind of agents you want.
Tuesday, March 9, 2010
Affordable Lake Access
With spring right around the corner, and temperatures hitting around 55 today, people begin to think about summer, and summer getaways, and I anticipate the phone to begin ringing with people looking for that house with the magical "water."
So many prospective buyers have that on the list. Either a stream, the Delaware or a lake. Access to a spot to swim. Why? perhaps it conjours up childhood memories, thoughts of relaxation--who knows, I think mostly it just represents, "downtime"--lazy summer days on the water.
There are four I have on my list for this season. Now full disclosure, two are my listings, however I truly believe they are good deals. The other two are also excellent deals. All four are not lakefront, but have lake access, and on all, the lake is less than a mile away, and on one, you can see the lake from the deck.
Click Here For Listings
Two of these 27762 and 26543 have access to Lake Loch Ada, which is a little known lake down by Glen Spey. It is a quiet non-motorboat lake, About 250 acres. It is a really nice spot tucked in the mountains, and it is lower Sullivan County, so the drive is under two hours.
27762 needs some work, but it is closer to the lake. It can bee seen from the decks. 26543 has been fully renovated, and has a cool lake home feel. Both are priced under 200K, which you can't get a studio for in the Hamptons. Bot of these are really good value.
27941 is on York Lake, which is a little smaller than Loch Ada and it is a motor-boat lake. It is frankly my least favorite lake, but the home is big and impeccable. I don't think the pictures do it justice, everything is high end, and it sits on two acres. at $239,000 it is less than the owner paid for it, and in my opinion another great value. York Lake is again in lower Sullivan County, so the drive is less.
27611 is brand new construction, again great quality. It has access to Tennanah Lake which is a much bigger motorboat lake. This house is the furthest away from any of the lakes, but it has complete privacy on over five acres--were you to be on the lake, the homes are all tucked in together, as is the case with most Catskill lakes. Tennanah Lake is a great lake community, very lively in the summer. There is a 18 hole golf course, just off the lake, and Roscoe is just a few minutes away. Older, smaller homes on the lake do not go for less than half a million, so this is another one that in my opinion is a great value.
I know that there is something about being on the water, being able to wake up and see it, be next to it as you barbecue or have a glass of wine and read a book, and hear the water lapping, but at half the cost, these homes offer 90% of what you would get with a lakefront.
So many prospective buyers have that on the list. Either a stream, the Delaware or a lake. Access to a spot to swim. Why? perhaps it conjours up childhood memories, thoughts of relaxation--who knows, I think mostly it just represents, "downtime"--lazy summer days on the water.
There are four I have on my list for this season. Now full disclosure, two are my listings, however I truly believe they are good deals. The other two are also excellent deals. All four are not lakefront, but have lake access, and on all, the lake is less than a mile away, and on one, you can see the lake from the deck.
Click Here For Listings
Two of these 27762 and 26543 have access to Lake Loch Ada, which is a little known lake down by Glen Spey. It is a quiet non-motorboat lake, About 250 acres. It is a really nice spot tucked in the mountains, and it is lower Sullivan County, so the drive is under two hours.
27762 needs some work, but it is closer to the lake. It can bee seen from the decks. 26543 has been fully renovated, and has a cool lake home feel. Both are priced under 200K, which you can't get a studio for in the Hamptons. Bot of these are really good value.
27941 is on York Lake, which is a little smaller than Loch Ada and it is a motor-boat lake. It is frankly my least favorite lake, but the home is big and impeccable. I don't think the pictures do it justice, everything is high end, and it sits on two acres. at $239,000 it is less than the owner paid for it, and in my opinion another great value. York Lake is again in lower Sullivan County, so the drive is less.
27611 is brand new construction, again great quality. It has access to Tennanah Lake which is a much bigger motorboat lake. This house is the furthest away from any of the lakes, but it has complete privacy on over five acres--were you to be on the lake, the homes are all tucked in together, as is the case with most Catskill lakes. Tennanah Lake is a great lake community, very lively in the summer. There is a 18 hole golf course, just off the lake, and Roscoe is just a few minutes away. Older, smaller homes on the lake do not go for less than half a million, so this is another one that in my opinion is a great value.
I know that there is something about being on the water, being able to wake up and see it, be next to it as you barbecue or have a glass of wine and read a book, and hear the water lapping, but at half the cost, these homes offer 90% of what you would get with a lakefront.
Thursday, February 25, 2010
Bad Blogger
Haven't been blogging in a while, but I have been really super busy. Real estate is not moving so much, (although I have had showings every weekend.) But my concierge business over the past few months has sky-rocketed. Who knew that there were so many people concerned with their second homes.
Many of my customers do have high-tech gadgets where they can see from their web cams on their computers at home, what is going on in the house, low temperature alarms automatic lights etc. but the pure hassle and worry of what may be going on while they are away, is what I think drives this business. A home is a huge investment, and many times, (intentionally) the house is tucked away from anyone else. Being able to call someone like me, to make sure all is well, is a piece of mind, that is worth a couple of bucks to some folks.
I really enjoy it. Driving around the winter countryside, and inspecting different types of homes is a really a nice way to make a few extra bucks. And very often I come across real estate signs and listings I might have otherwise missed. A wise old real estate man once told me that an agent doesn't make money at home or in the office. He makes it in his car.
But today I am snow bound, with a wife who is four weeks away from our first. I was unceremoniously removed from the bedroom I was using as an office, (which is now blue with an oak crib also waiting for the little one's arrival.) and am now in the basement. Its pretty nice down here. I've got a little window watching the snow pile up. Life is good.
On the real estate front, I've got a few deals pending, but both are short sales, where if you let it, it will drive you crazy. Dealing with a bank loss mitigaion department is the equivalant of banging your head against the wall.
Prices continue to fall, and I think sellers some sellers have taken that deep sigh, and realized what kind of market we are in, and that it is here to stay.
Many of my customers do have high-tech gadgets where they can see from their web cams on their computers at home, what is going on in the house, low temperature alarms automatic lights etc. but the pure hassle and worry of what may be going on while they are away, is what I think drives this business. A home is a huge investment, and many times, (intentionally) the house is tucked away from anyone else. Being able to call someone like me, to make sure all is well, is a piece of mind, that is worth a couple of bucks to some folks.
I really enjoy it. Driving around the winter countryside, and inspecting different types of homes is a really a nice way to make a few extra bucks. And very often I come across real estate signs and listings I might have otherwise missed. A wise old real estate man once told me that an agent doesn't make money at home or in the office. He makes it in his car.
But today I am snow bound, with a wife who is four weeks away from our first. I was unceremoniously removed from the bedroom I was using as an office, (which is now blue with an oak crib also waiting for the little one's arrival.) and am now in the basement. Its pretty nice down here. I've got a little window watching the snow pile up. Life is good.
On the real estate front, I've got a few deals pending, but both are short sales, where if you let it, it will drive you crazy. Dealing with a bank loss mitigaion department is the equivalant of banging your head against the wall.
Prices continue to fall, and I think sellers some sellers have taken that deep sigh, and realized what kind of market we are in, and that it is here to stay.
Wednesday, January 6, 2010
"Big Bank" Rant
So I get an accepted offer on a foreclosed property through Wells Fargo. It is listed with another agent in Orange County, located sixty miles away from the property. They literally put a lock box on it, hung a sign, and put it on the mls. That's it.
It sits for a bit, and there are some price reductions. I finally get an accepted offer, after the obligatory hoops--pre approval letters not only from the bank they plan to use, but from Wells Fargo as well. Earnest money. Background checks through a "money laundering database." Really? We do as instructed. Follow the rules.
The listing agent has done everything but come out and say he doesn't care a bit about selling this property. I suppose Sullivan County is too far, and he has bigger fish to fry, anyway every correspondence is slow in being returned, and apathetic when finally reached.
So the Wells Fargo attorney sends the contracts to my attorney, twenty four hours after the accepted offer, (I know, finally some speed int this deal) however, it happens to be Christmas Eve. Their time stipulations are two days to review and sign. Five days for an inspection, and fourteen days for a mortgage commitment. There is a fifty dollar a day late charge if these are not met.
Now keep in mind the holiday. Does it matter? Nope. My buyers happened to be out of the country. They countered with seven days to review and sign the contracts. Fifteen days for the inspection, and thirty for the mortgage commitment. What was the banks response? Unacceptable, The deal is off. "We are going to entertain other offers."
Meanwhile, the apathetic agent has allowed the property to expire off the mls.--currently not listed anywhere. There are no other offers. The house sits empty, and in disrepair. Lets kill the deal over fourteen days. This is such an example of big bank stupidity.
Now you are probably thinking, that surely there is someone along this chain of he-said-she-said that selling agents have to follow, that will have a bit of common sense, and believe me I have tried. The bank's attorney? Not my call. Listing agent? Not my call, (and I don't give a crap.) Trying to find that nameless person in Wells Fargo who does make the "call" is maddening. I get switched from department to department, and finally to a voice mail, that might as well not be recording, because no-one gets back to me.
I have heard many similar complaints about foreclosures and short sales from other agents. Now I know that this is my little world here in Sullivan County, but lets be really conservative, and assume that this is happening a fifty times a day across the country. My deal was for $200,000. Times that by fifty. That is ten million a day in bank lost revenue.
Stupidity at it's highest form. Take the bailout money banks, I can see why you needed it.
It sits for a bit, and there are some price reductions. I finally get an accepted offer, after the obligatory hoops--pre approval letters not only from the bank they plan to use, but from Wells Fargo as well. Earnest money. Background checks through a "money laundering database." Really? We do as instructed. Follow the rules.
The listing agent has done everything but come out and say he doesn't care a bit about selling this property. I suppose Sullivan County is too far, and he has bigger fish to fry, anyway every correspondence is slow in being returned, and apathetic when finally reached.
So the Wells Fargo attorney sends the contracts to my attorney, twenty four hours after the accepted offer, (I know, finally some speed int this deal) however, it happens to be Christmas Eve. Their time stipulations are two days to review and sign. Five days for an inspection, and fourteen days for a mortgage commitment. There is a fifty dollar a day late charge if these are not met.
Now keep in mind the holiday. Does it matter? Nope. My buyers happened to be out of the country. They countered with seven days to review and sign the contracts. Fifteen days for the inspection, and thirty for the mortgage commitment. What was the banks response? Unacceptable, The deal is off. "We are going to entertain other offers."
Meanwhile, the apathetic agent has allowed the property to expire off the mls.--currently not listed anywhere. There are no other offers. The house sits empty, and in disrepair. Lets kill the deal over fourteen days. This is such an example of big bank stupidity.
Now you are probably thinking, that surely there is someone along this chain of he-said-she-said that selling agents have to follow, that will have a bit of common sense, and believe me I have tried. The bank's attorney? Not my call. Listing agent? Not my call, (and I don't give a crap.) Trying to find that nameless person in Wells Fargo who does make the "call" is maddening. I get switched from department to department, and finally to a voice mail, that might as well not be recording, because no-one gets back to me.
I have heard many similar complaints about foreclosures and short sales from other agents. Now I know that this is my little world here in Sullivan County, but lets be really conservative, and assume that this is happening a fifty times a day across the country. My deal was for $200,000. Times that by fifty. That is ten million a day in bank lost revenue.
Stupidity at it's highest form. Take the bailout money banks, I can see why you needed it.
Tuesday, December 29, 2009
Year in Review
Well, as 2009 winds down, I suppose it is only natural to look back on the year and reflect on things good and bad, personally and professionally.
On the personal side, we are expecting in March. It is our first, and cautious optimism would be the best way to describe how I feel about that. She is excited, and since she is such a saint. (she puts up with me) I have no fear that she will be a great mother, and together we can be pretty good parents.
But this is a real estate blog, and although my personal life is important to me, I'm sure it is pretty mundane to someone who is trying to gather information on buying a home in Sullivan County.
Professionally I had my best year in my short (four year) real estate career. Now most of that I can attribute to switching brokerages, where my opportunities increased expediently, and also putting it in perspective, "best year" does not by any means put me up there with the Rockefeller's, but in a year of global groaning and gnashing of teeth, I would say professionally it is an accomplishment.
I had some really great clients this year, and met some wonderful, and wonderfully different people. I would like to thank all those who bought, and who's homes I sold in '09. You are the only reason I am in business.
My mission statement for 2010 is simple. "Be there for my clients." I would like to think that I succeeded in that in '09, and I would like to wish everyone a healthy and happy 2010.
Now if I could just get my concierge service business off the ground. It is a great idea, but I have had little response.
“I am not judged by the number of times I fail, but by the number of times I succeed: and the number of times I succeed is in direct proportion to the number of times I fail and keep trying.”
--Hopkins
On the personal side, we are expecting in March. It is our first, and cautious optimism would be the best way to describe how I feel about that. She is excited, and since she is such a saint. (she puts up with me) I have no fear that she will be a great mother, and together we can be pretty good parents.
But this is a real estate blog, and although my personal life is important to me, I'm sure it is pretty mundane to someone who is trying to gather information on buying a home in Sullivan County.
Professionally I had my best year in my short (four year) real estate career. Now most of that I can attribute to switching brokerages, where my opportunities increased expediently, and also putting it in perspective, "best year" does not by any means put me up there with the Rockefeller's, but in a year of global groaning and gnashing of teeth, I would say professionally it is an accomplishment.
I had some really great clients this year, and met some wonderful, and wonderfully different people. I would like to thank all those who bought, and who's homes I sold in '09. You are the only reason I am in business.
My mission statement for 2010 is simple. "Be there for my clients." I would like to think that I succeeded in that in '09, and I would like to wish everyone a healthy and happy 2010.
Now if I could just get my concierge service business off the ground. It is a great idea, but I have had little response.
“I am not judged by the number of times I fail, but by the number of times I succeed: and the number of times I succeed is in direct proportion to the number of times I fail and keep trying.”
--Hopkins
Friday, December 11, 2009
Holidays Approaching--Slow Weekend
First weekend in probably about two months where I don't have a full schedule. I do have to accompany a co-broke on one of my listings on Sat. but that is it. I'm sure it is the holidays. People are busy with Christmas stuff. I certainly don't mind. I'll take a weekend at home.
The problem with my "busyness" is that it is not translating into offers and sales. I have a half dozen people I am actively working with, and although I feel we are close on a few, all seem hesitant. There is a prevailing idea that any asking price can be automatically discounted by 20 to 30 percent, many refuse to make compromises, and then even when it all seems like it has come together, there is that nagging fear that if the market declines further, they will have overpaid.
They are not tire kickers. I have been in this business long enough to sniff out the ones who are just looking for a nice day to view houses in the country, but there is just no such thing as an easy sale.
An example I have is the property link I listed below. I showed this property three or four times. It is a nice big farmhouse on seven acres with a few huge outbuildings. Bank owned. It was bought at the height of the insanity for $450,000. Bank started it at $239,000 dropped it to $220,000, (at which time I got an offer for $180,000) I urged my people to come up just $10,000 more. No dice. They "moved on."
The price was just dropped last week again to $199,000. I called back my customers and told them. They said, put in an offer of $182,500. When I presented it...to late. In the course of two days, there had been an accepted offer, and contracts were out
Believe me this is a steal at $199,000, (and it probably went for around $190,000.) But this is my point. For $7,500 (less then the total commission.) Buyers are willing to walk. I can lead a horse to water, and yet this pervasive attitude that unless the property is a steal, it is not worth it. And it is not until the media starts telling everyone that the market is rebounding before this attitude changes.
I know I have told this story before, but I had an economics professor in college who would say. "When do the cliff divers of Acapulco jump? When they see water? or when they see rocks?
7858 State Route 52 (a/k/a CR 111) Narrowsburg, NY 12764
The problem with my "busyness" is that it is not translating into offers and sales. I have a half dozen people I am actively working with, and although I feel we are close on a few, all seem hesitant. There is a prevailing idea that any asking price can be automatically discounted by 20 to 30 percent, many refuse to make compromises, and then even when it all seems like it has come together, there is that nagging fear that if the market declines further, they will have overpaid.
They are not tire kickers. I have been in this business long enough to sniff out the ones who are just looking for a nice day to view houses in the country, but there is just no such thing as an easy sale.
An example I have is the property link I listed below. I showed this property three or four times. It is a nice big farmhouse on seven acres with a few huge outbuildings. Bank owned. It was bought at the height of the insanity for $450,000. Bank started it at $239,000 dropped it to $220,000, (at which time I got an offer for $180,000) I urged my people to come up just $10,000 more. No dice. They "moved on."
The price was just dropped last week again to $199,000. I called back my customers and told them. They said, put in an offer of $182,500. When I presented it...to late. In the course of two days, there had been an accepted offer, and contracts were out
Believe me this is a steal at $199,000, (and it probably went for around $190,000.) But this is my point. For $7,500 (less then the total commission.) Buyers are willing to walk. I can lead a horse to water, and yet this pervasive attitude that unless the property is a steal, it is not worth it. And it is not until the media starts telling everyone that the market is rebounding before this attitude changes.
I know I have told this story before, but I had an economics professor in college who would say. "When do the cliff divers of Acapulco jump? When they see water? or when they see rocks?
7858 State Route 52 (a/k/a CR 111) Narrowsburg, NY 12764
Monday, November 30, 2009
My Foray into the Short Sale Mess
So inevitably I suppose, the short sale spectre which has been looming this past year, finally entered into my day to day business. I currently have two deals (or attempted deals) in the short sale category. I am the selling agent on one, and the buyers agent on another.
While being on the buyers side is a lot less work, I find it more frustrating, because besides squeaky wheel phone calls to the listing agent, I have no control, as the frustratingly slow wheels of the bank system continuously leave the buyer up in the air as to whether this will actually happen.
Dealing with loss mitigation bank personnel is incredibly frustrating, because it seems there is no vested interest on that end to make the deal happen. All necessary hoops--hardship letter, financial corroboration, comparative market analysis, the necessary short sale "packet" as been submitted, and yet we sit and wait. I do believe that this will happen, but when is the question, and in the meantime, as an agent, all I can do is try to keep impatient buyers from moving on.
I read a stat that 80% of all short sale attempts fail, and the average short sale takes eight months to complete. I blame the lending institutions for that. The obvious apathy that I encounter on every phone call is absurd.
On a brighter side, my holiday weekend was full of showings. Buyers are looking again, and despite what the doom and gloomers are saying, things seem to be picking up.
While being on the buyers side is a lot less work, I find it more frustrating, because besides squeaky wheel phone calls to the listing agent, I have no control, as the frustratingly slow wheels of the bank system continuously leave the buyer up in the air as to whether this will actually happen.
Dealing with loss mitigation bank personnel is incredibly frustrating, because it seems there is no vested interest on that end to make the deal happen. All necessary hoops--hardship letter, financial corroboration, comparative market analysis, the necessary short sale "packet" as been submitted, and yet we sit and wait. I do believe that this will happen, but when is the question, and in the meantime, as an agent, all I can do is try to keep impatient buyers from moving on.
I read a stat that 80% of all short sale attempts fail, and the average short sale takes eight months to complete. I blame the lending institutions for that. The obvious apathy that I encounter on every phone call is absurd.
On a brighter side, my holiday weekend was full of showings. Buyers are looking again, and despite what the doom and gloomers are saying, things seem to be picking up.
Thursday, November 5, 2009
Slow Business Unless Your a Bank Robber
I racked my brain this morning to come up with a real estate topic for this blog post, but the reality is, things for me have been quiet. I field daily inquiries, and have shown on the weekends, but everybody seems to be casual lookers right now. I don’t know, maybe it is the time of year, or maybe it is just happens to be the people who are contacting me. There hasn’t been a whole lot of activity on the pending or sold sections of the mls, so I think things in general are quiet.
The $8,000 tax credit did get extended which I think is good news, at least for the economy in general, I think it has minimal effect on second home purchases here in SC.
On the exciting news front we did have two bank robberies here in Callicoon within five days of each other, which is unusual to say the least. The first, on the Bank of America, the robbers were quickly apprehended, but so far the second bunch on the Bank of Jeffersonville remain at large. I’m sure the second was a “we coulda done better conversation” that built into the actual crime.
All the papers wrote that the first bank heist was in excess of 75K which I think is irresponsible to print. It surprised me that one would get that much from a teller hold-up in the sticks, and I think it got the second crew thinking. They should have told everyone they only made off with like $5,000. Probably would have prevented this second robbery.
Anyway just my two cents. Starting to get a response from my concierge business. www.catskillconcierge.com I have two interviews this weekend.
The $8,000 tax credit did get extended which I think is good news, at least for the economy in general, I think it has minimal effect on second home purchases here in SC.
On the exciting news front we did have two bank robberies here in Callicoon within five days of each other, which is unusual to say the least. The first, on the Bank of America, the robbers were quickly apprehended, but so far the second bunch on the Bank of Jeffersonville remain at large. I’m sure the second was a “we coulda done better conversation” that built into the actual crime.
All the papers wrote that the first bank heist was in excess of 75K which I think is irresponsible to print. It surprised me that one would get that much from a teller hold-up in the sticks, and I think it got the second crew thinking. They should have told everyone they only made off with like $5,000. Probably would have prevented this second robbery.
Anyway just my two cents. Starting to get a response from my concierge business. www.catskillconcierge.com I have two interviews this weekend.
Friday, October 16, 2009
120 Acre Sale in Glen Spey
A listing just went to sold status in the mls. It is 120 acres on Van Tuyl Road in Barryville, sold for $200,000. Nothing special about the land, but nothing really negative about it either, no power lines or steep grade. It is an estate sale, so perhaps there was some motivation with multiple siblings (just surmising) however, this cannot be classified as a distressed sale. It sat on the market for almost 700 days, price drops from $499,000.
This puts us in a land price area we have not seen for some time in this county--under $2,000 an acre. And it reinforces what I have been saying all summer. Buyers are only pulling the trigger when they feel they are getting a great deal.
At any rate this is going to add an interesting twist to large parcel land comps. I added the link to the listing below.
http://scmls.fnismls.com/publink/default.aspx?GUID=1341b2cf-0fd3-4f7d-af99-3a98280b73dd&Report=Yes
This puts us in a land price area we have not seen for some time in this county--under $2,000 an acre. And it reinforces what I have been saying all summer. Buyers are only pulling the trigger when they feel they are getting a great deal.
At any rate this is going to add an interesting twist to large parcel land comps. I added the link to the listing below.
http://scmls.fnismls.com/publink/default.aspx?GUID=1341b2cf-0fd3-4f7d-af99-3a98280b73dd&Report=Yes
Subscribe to:
Posts (Atom)