The natural gas market is heating up. New players, old players, and big money are lining up at our border. The implications are as large as the shale formation itself.
Where is Dimock, PA? It’s a little west of Montrose, PA. So? Well, if you want to keep up with how natural gas drilling may effect Sullivan County, NY, you’ll want to read this article from the Times-Hearld Record.
The Marcellus is a monolithic geological formation covering a large geographic area including Sullivan County, NY. It’s rich with untapped gas resources. Author Steve Israel does a good job explaining common themes surrounding gas exploration and how it may effect our core life style.
Sunday, October 18, 2009
Thursday, June 4, 2009
It's time to pull the trigger
Mortgage interest rates are climbing. Will these rates continue north, hover, or head south with the next round of terrible real estate news? Are you willing to gamble?
If you have a penchant for market timing and enjoy séances, you may be tempted to remain in orbit and view a home purchase from afar. Those who may be a bit more conservative and are shopping for real estate are advised to evaluate the current market carefully.
Hovering doesn’t count. Decisive action in real estate acquisition runs in two directions. It’s either time to buy or not to buy. That is not to say that taking a wait and see attitude implies lack of direction.
If you are a market timer, I suggest you jump ship and join the “I figure it this way right now crowd.” This camp is becoming less inclined to predict mortgage rates will retreat to the sub 5 percent level.
If rates continue to climb, serious buyers may miss the penultimate opportunity to cash in. Achieving the lowest price at the most attractive interest rate are perhaps the two most important financial considerations underpinning all real estate transactions.
Home sales are picking up; interest rates seem to be rising. Take a look at the last 3-month charts and see for yourself here and here. Sidelined cash needs to get back into the game quickly in order to catch low tide.
Cash buyers have always been king. Secondarily, those with FICO scores above 700 and a liquid 20% can get that conventional and quicker mortgage commitment. New homebuyers have the $8000 federal incentive (The American Recovery and Reinvestment Act of 2009) to get in the door before December 1, 2009.
So, you can gaze at your new home from afar. You can hover and continue to fence sit, or, you can pull the trigger and make a great deal. What say you?
John Kavaller: Licensed NYS Agent and Realtor
Catskill Sales Associates
http://www.catskillcountryrealestate.com/
http://www.catskillcountryrealestate.info/
845-482-3200 Ext. 13:
Office845-492-0261:
catskillsrealestate@gmail.com
If you have a penchant for market timing and enjoy séances, you may be tempted to remain in orbit and view a home purchase from afar. Those who may be a bit more conservative and are shopping for real estate are advised to evaluate the current market carefully.
Hovering doesn’t count. Decisive action in real estate acquisition runs in two directions. It’s either time to buy or not to buy. That is not to say that taking a wait and see attitude implies lack of direction.
If you are a market timer, I suggest you jump ship and join the “I figure it this way right now crowd.” This camp is becoming less inclined to predict mortgage rates will retreat to the sub 5 percent level.
If rates continue to climb, serious buyers may miss the penultimate opportunity to cash in. Achieving the lowest price at the most attractive interest rate are perhaps the two most important financial considerations underpinning all real estate transactions.
Home sales are picking up; interest rates seem to be rising. Take a look at the last 3-month charts and see for yourself here and here. Sidelined cash needs to get back into the game quickly in order to catch low tide.
Cash buyers have always been king. Secondarily, those with FICO scores above 700 and a liquid 20% can get that conventional and quicker mortgage commitment. New homebuyers have the $8000 federal incentive (The American Recovery and Reinvestment Act of 2009) to get in the door before December 1, 2009.
So, you can gaze at your new home from afar. You can hover and continue to fence sit, or, you can pull the trigger and make a great deal. What say you?
John Kavaller: Licensed NYS Agent and Realtor
Catskill Sales Associates
http://www.catskillcountryrealestate.com/
http://www.catskillcountryrealestate.info/
845-482-3200 Ext. 13:
Office845-492-0261:
catskillsrealestate@gmail.com
Monday, May 25, 2009
Natural Gas Drilling Update
Natural gas drilling is an issue here in Sullivan County, NY-- perhaps a big one. The Marcellus Shale Formation may significantly impact just about everything in our little piece of God's Green Earth. Keeping current is prudent.
Supporters claim economic benefits while enviromentalists predict degradation. Leasing activity has slowed probably based on the slide in natural gas prices over the past nine or so months. Gas firms have, for the moment, packed up--but they may be back when the economy heats up.
The implications for real estate here are considerable. The debate will most likely continue for years to come. Check here from time to time to follow the thread. Here's a link to a brief article discussing one particular aspect of the drilling issue.
Supporters claim economic benefits while enviromentalists predict degradation. Leasing activity has slowed probably based on the slide in natural gas prices over the past nine or so months. Gas firms have, for the moment, packed up--but they may be back when the economy heats up.
The implications for real estate here are considerable. The debate will most likely continue for years to come. Check here from time to time to follow the thread. Here's a link to a brief article discussing one particular aspect of the drilling issue.
Monday, May 18, 2009
Catskill Real Estate Market April-May 2009
So what’s going on here in Catskills of Sullivan County, NY? The short answer is—not much. Across the board, recent sales indicate buyers still favor the sidelines, not the playing field.
I believe there is still a relevant disconnect on the selling side of the equation. Sellers seem unwilling to make peace with the current bottom fishing aspect of today’s market. With that being said----
The home buying atmosphere should be robust and flush with exuberant activity. Lower than low interest rates, good inventory, and the first time homebuyer’s credit which may be used as a down payment are among factors that support and should buoy the market. Yet these favorable circumstances are not bringing buyers to the closing table.
Warren Blumenthal, Owner/Broker of Catskill Sales Associates, Inc located in Jeffersonville, NY, attributes the lethargic conditions to two primary elements.
The buying community believes the market still has not bottomed. Potential buyers are concerned their jobs may disappear.
What bothers me is the fact that savvy buyers, in general, know they cannot call the exact bottom of any market. The macro economic prevailing winds certainly indicate a buy now signal. Why aren’t they at the table in droves?
Perhaps it is the second point Broker Blumenthal makes that is more telling. All the conditions may be favorable to buy now, but if the buyer fears losing his or her job, buying doesn’t make sense.
My crystal ball in the attic predicts the buyer’s market will remain. I suspect that if the economic doldrums persist, sellers will have to get more realistic pricing points on their listings or they’ll be paying taxes for another year.
Even if we are close or at a pricing bottom, buyers will simply kick the tires if they fear for their jobs. Stay tuned for the next post when I bring the ball out of my Victorian attic.
I believe there is still a relevant disconnect on the selling side of the equation. Sellers seem unwilling to make peace with the current bottom fishing aspect of today’s market. With that being said----
The home buying atmosphere should be robust and flush with exuberant activity. Lower than low interest rates, good inventory, and the first time homebuyer’s credit which may be used as a down payment are among factors that support and should buoy the market. Yet these favorable circumstances are not bringing buyers to the closing table.
Warren Blumenthal, Owner/Broker of Catskill Sales Associates, Inc located in Jeffersonville, NY, attributes the lethargic conditions to two primary elements.
The buying community believes the market still has not bottomed. Potential buyers are concerned their jobs may disappear.
What bothers me is the fact that savvy buyers, in general, know they cannot call the exact bottom of any market. The macro economic prevailing winds certainly indicate a buy now signal. Why aren’t they at the table in droves?
Perhaps it is the second point Broker Blumenthal makes that is more telling. All the conditions may be favorable to buy now, but if the buyer fears losing his or her job, buying doesn’t make sense.
My crystal ball in the attic predicts the buyer’s market will remain. I suspect that if the economic doldrums persist, sellers will have to get more realistic pricing points on their listings or they’ll be paying taxes for another year.
Even if we are close or at a pricing bottom, buyers will simply kick the tires if they fear for their jobs. Stay tuned for the next post when I bring the ball out of my Victorian attic.
Tuesday, May 5, 2009
Good news for Sullivan County Real Estate
Welcome to the Catskills. Pull up a chair, relax, and participate. This blog is not moderated and solicits all opinions. Although primarily aimed at real estate issues within the greater Catskill Region of Sullivan County, New York, I welcome all input and comment relative to our area.
NYRI or New York Regional Interconnect project is dead. This means no major electrical infrastructure will mar the natural beauty of our region. This is no small victory for all property owners in Sullivan County, NY.
The proposed 190-mile grid plan could have taken one of several routes if approved, each one presenting substantial difficulty to those owners “in the way”. No one wants a 10 story monolithic tower placed in his or her back yard.
The NYRI threat is over. Come on up and see what the Catskill Mountains of Sullivan County, NY have to offer you. You won’t be disappointed.
Welcome Home.
NYRI or New York Regional Interconnect project is dead. This means no major electrical infrastructure will mar the natural beauty of our region. This is no small victory for all property owners in Sullivan County, NY.
The proposed 190-mile grid plan could have taken one of several routes if approved, each one presenting substantial difficulty to those owners “in the way”. No one wants a 10 story monolithic tower placed in his or her back yard.
The NYRI threat is over. Come on up and see what the Catskill Mountains of Sullivan County, NY have to offer you. You won’t be disappointed.
Welcome Home.
Wednesday, April 22, 2009
Real Estate is Like Playing Poker
Want to make a real estate deal? Then, you must be ready to play poker. So let’s shuffle the cards and get ready to play, shall we?
Before we sit down at the table, you MUST know the stakes and players involved. Playing blindly spells a losing strategy. I suggest you do a little homework prior to game night.
Jack and Jean Simpson are selling. They’ve owned several homes and know the real estate game quite well. Joe Johnson, the Seller’s Agent, is a veteran bringing years of experience to the table.
The Simpsons have listed their prize home for $399,000. It’s been on the market for 8 months. You’ve toured the home with your Buyer’s agent twice already and are ready to make an offer. You’ve noticed that your dream home, owned by the Simpsons, needs some minor repair work and could use some kitchen and bathroom renovations as well.
Furthermore, you-- Mr. and Mrs. Buyer, are excited about the prospects of owning this home. It isn’t your first home, but the jump up from your starter digs to the Simpson situation, is a big leap.
Your own agent has run comparable properties. Comps are: Similar in type and size to the subject property-Sold in the past year-Within a prescribed radius from the subject.
The most recent 3 comps have an average actual sale price of about $350,000. Your buyer’s agent suggests making an offer 15% below asking or $339,000.
What other information should Mr. And Mrs. Buyer have before sitting at the poker (read negotiation) table? If you can’t think of any other information you need prior to playing, call me. The information noted above is not enough to get the best deal.
As your buyer’s agent, I’ll save you a bundle be being fully prepared to engage the Simpsons and their representative at the table. If you’re going to play for high stakes, why not hire Paladin?
Before we sit down at the table, you MUST know the stakes and players involved. Playing blindly spells a losing strategy. I suggest you do a little homework prior to game night.
Jack and Jean Simpson are selling. They’ve owned several homes and know the real estate game quite well. Joe Johnson, the Seller’s Agent, is a veteran bringing years of experience to the table.
The Simpsons have listed their prize home for $399,000. It’s been on the market for 8 months. You’ve toured the home with your Buyer’s agent twice already and are ready to make an offer. You’ve noticed that your dream home, owned by the Simpsons, needs some minor repair work and could use some kitchen and bathroom renovations as well.
Furthermore, you-- Mr. and Mrs. Buyer, are excited about the prospects of owning this home. It isn’t your first home, but the jump up from your starter digs to the Simpson situation, is a big leap.
Your own agent has run comparable properties. Comps are: Similar in type and size to the subject property-Sold in the past year-Within a prescribed radius from the subject.
The most recent 3 comps have an average actual sale price of about $350,000. Your buyer’s agent suggests making an offer 15% below asking or $339,000.
What other information should Mr. And Mrs. Buyer have before sitting at the poker (read negotiation) table? If you can’t think of any other information you need prior to playing, call me. The information noted above is not enough to get the best deal.
As your buyer’s agent, I’ll save you a bundle be being fully prepared to engage the Simpsons and their representative at the table. If you’re going to play for high stakes, why not hire Paladin?
Wednesday, April 15, 2009
So You Want A Place in the Catskills?
There’s a lot to think about. For instance:
Do you really want to drive a little over 100 miles and take a swim before dinner?
Are your children ready for the fresh air, cool breeze, and sunshine?
Will Mom and Dad fit into the double bed at the farmhouse?
Do you really feel like taking a 3 or 4-day weekend to relax and enjoy life?
Peter-Paul-and Mary are playing Bethel Woods July 31st, should we buy tickets?
Should we do some horseback riding or maybe tube at Skinner’s Falls?
Sure there is a lot to think about. But why wouldn’t you want to come on up to the mountains?
It’s just around the corner. You can be up in the same time it takes to creep down Madison Avenue or the LIE.
Making Sullivan County your second home choice makes good sense—especially in today’s market. Super properties featuring views, water, and pastures are available at very advantageous price points.
Interest rates, the new home buyer’s $8000 credit, and excellent inventory have created the perfect storm. So you want a place in the Catskills? Welcome Home.
Do you really want to drive a little over 100 miles and take a swim before dinner?
Are your children ready for the fresh air, cool breeze, and sunshine?
Will Mom and Dad fit into the double bed at the farmhouse?
Do you really feel like taking a 3 or 4-day weekend to relax and enjoy life?
Peter-Paul-and Mary are playing Bethel Woods July 31st, should we buy tickets?
Should we do some horseback riding or maybe tube at Skinner’s Falls?
Sure there is a lot to think about. But why wouldn’t you want to come on up to the mountains?
It’s just around the corner. You can be up in the same time it takes to creep down Madison Avenue or the LIE.
Making Sullivan County your second home choice makes good sense—especially in today’s market. Super properties featuring views, water, and pastures are available at very advantageous price points.
Interest rates, the new home buyer’s $8000 credit, and excellent inventory have created the perfect storm. So you want a place in the Catskills? Welcome Home.
Thursday, April 9, 2009
Yeah Woodstock!
Boomer One: Man, it was something. Were you there?
Boomer Two: No, I but could have been.
Boomer One: Well, where was this massive get together?
Boomer Two: What get together?
Boomer One: Are you high?
Boomer Two: High—like no, but just about everyone at Woodstock was partying ya know.
Boomer One: Bout ½ million folks jammed into a hay field way out in the country man.
Boomer Two: Really.
Boomer One: Yeah really.
Boomer Two: I’m confused man.
Boomer One: How come?
Boomer Two: Woodstock wasn’t in Woodstock
Boomer One: No sh-t!
Boomer Two: Where was it?
Boomer One: All this time, you never bothered to find out?
Boomer Two: I was busy making lots of money.
Boomer One: Were you a hippie?
Boomer Two: I never wore underwear back then, so yeah-I was a flower child-sort of.
Boomer One: Anyway-you asked about Woodstock.
Boomer Two: Yeah.
Boomer One: Woodstock NY was where the party was supposed to happen but didn’t.
Boomer Two: Knew it was something like that—so where did it really happen?
Boomer One: Place called Yasgur’s farm in Bethel, NY.
Boomer Two: Bethel, NY? Doesn’t sound like Woodstock to me.
Boomer One: You must still be smoking that wacky stuff.
Boomer Two: Naw, had to settle down and wear a suit.
Boomer One: Bethel NY became Woodstock even though it’s 75 miles away on the other side of the Hudson.
Boomer Two: Hudson?
Boomer One: Hudson River man.
Boomer Two: Oh.
Boomer One: East side of the Hudson -- that’s where the Town of Woodstock is. West side of the Hudson—you know—the Jersey side is where Bethel, NY is and where the Rock n Roll blast went down.
Boomer Two: Wow—I needed that!
Boomer One: Man, it was something. Were you there?
Boomer Two: No, I but could have been.
Boomer One: Well, where was this massive get together?
Boomer Two: What get together?
Boomer One: Are you high?
Boomer Two: High—like no, but just about everyone at Woodstock was partying ya know.
Boomer One: Bout ½ million folks jammed into a hay field way out in the country man.
Boomer Two: Really.
Boomer One: Yeah really.
Boomer Two: I’m confused man.
Boomer One: How come?
Boomer Two: Woodstock wasn’t in Woodstock
Boomer One: No sh-t!
Boomer Two: Where was it?
Boomer One: All this time, you never bothered to find out?
Boomer Two: I was busy making lots of money.
Boomer One: Were you a hippie?
Boomer Two: I never wore underwear back then, so yeah-I was a flower child-sort of.
Boomer One: Anyway-you asked about Woodstock.
Boomer Two: Yeah.
Boomer One: Woodstock NY was where the party was supposed to happen but didn’t.
Boomer Two: Knew it was something like that—so where did it really happen?
Boomer One: Place called Yasgur’s farm in Bethel, NY.
Boomer Two: Bethel, NY? Doesn’t sound like Woodstock to me.
Boomer One: You must still be smoking that wacky stuff.
Boomer Two: Naw, had to settle down and wear a suit.
Boomer One: Bethel NY became Woodstock even though it’s 75 miles away on the other side of the Hudson.
Boomer Two: Hudson?
Boomer One: Hudson River man.
Boomer Two: Oh.
Boomer One: East side of the Hudson -- that’s where the Town of Woodstock is. West side of the Hudson—you know—the Jersey side is where Bethel, NY is and where the Rock n Roll blast went down.
Boomer Two: Wow—I needed that!
Sunday, April 5, 2009
Welcome to the Catskills. Pull up a chair, relax, and participate. This blog is not moderated and solicits all opinions. Although primarily aimed at real estate issues within the greater Catskill Region of Sullivan County, New York, I welcome all input and comment relative to our area.
Why a Waterfront Property?
What is it about water? What internal human instinct instills the love of that life giving substance? The draw to water is visceral. Like the warm smell of a 3-week-old puppy, water comforts the human soul.
Our human urge to get on the water, look over the water, ride the water, fly over water, bathe in water, drink in the water, devour the water, relax in water, hold our babies in water, swim in water, make love in water, seems to speak of our ancestry and kinship with life.
We mark our own birth with the breaking water--that nine month ride in water, so gloriously harmonized, connecting the unborn and yet to be, with mother, the source. I suppose the water worship is justifiably poignant for those of us wise enough, well heeled enough to live by, or on the water.
Translating the transcendental water front property into business is not so esoteric. Here in the Catskills, we thrive on natural waterfronts of a diverse nature.
The Rio (pronounced rye-o), Toronto, Neversink, Pepacton Reservoirs, the Delaware and Mongaup rivers, Swinging Bridge, Tennanah, White, Kauneonga Lakes, and so much more, provide ample opportunity for those heeding the inner call to the water front.
Be it by salty sea or fresh water estuary, water commands a premium. The collection of qualities surrounding water front properties is mysterious yet completely understood by that inner personal compass. No exact definition can be rendered. It is a personal relationship.
The streams, rivulets, ephemerals of spring flow here. Your spirit reaches out to be renewed, refreshed, and re-vitalized. I’ll be here waiting at the water’s edge. Welcome home.
Why a Waterfront Property?
What is it about water? What internal human instinct instills the love of that life giving substance? The draw to water is visceral. Like the warm smell of a 3-week-old puppy, water comforts the human soul.
Our human urge to get on the water, look over the water, ride the water, fly over water, bathe in water, drink in the water, devour the water, relax in water, hold our babies in water, swim in water, make love in water, seems to speak of our ancestry and kinship with life.
We mark our own birth with the breaking water--that nine month ride in water, so gloriously harmonized, connecting the unborn and yet to be, with mother, the source. I suppose the water worship is justifiably poignant for those of us wise enough, well heeled enough to live by, or on the water.
Translating the transcendental water front property into business is not so esoteric. Here in the Catskills, we thrive on natural waterfronts of a diverse nature.
The Rio (pronounced rye-o), Toronto, Neversink, Pepacton Reservoirs, the Delaware and Mongaup rivers, Swinging Bridge, Tennanah, White, Kauneonga Lakes, and so much more, provide ample opportunity for those heeding the inner call to the water front.
Be it by salty sea or fresh water estuary, water commands a premium. The collection of qualities surrounding water front properties is mysterious yet completely understood by that inner personal compass. No exact definition can be rendered. It is a personal relationship.
The streams, rivulets, ephemerals of spring flow here. Your spirit reaches out to be renewed, refreshed, and re-vitalized. I’ll be here waiting at the water’s edge. Welcome home.
Monday, March 30, 2009
The Red Apple Rest, The Mountains, and Da City
The Red Apple Rest, The Mountains, and Da City
We baby boomers know the Mountains. We trekked here as children eager to beat sizzling sidewalks and wall to wall brick apartment houses. Mom, Dad, and grand parents packed what fit in the 56 Chevy and took off West to the Catskills. The trip took years. I was probably six.
When the family finally stopped for potty breaks and food, yep—you guessed it; we stood on line at the famous Red Apple Rest in Tuxedo, NY. Seemed like hundreds of people arrived at the Rest at exactly the same time. Was it really that crowded?
A carnival of smells and colors, The Rest was reflective of that tremendously diverse community everyone referred to as Da City. As in: “Where you from?” You’d say: “Da City.” Da city where you played stickball, pick up baseball games, and city park sprinklers made the Catskills a great escape. I hear the Four Season singing Sherrie right now.
Every kid from Da City knows about egg crèmes and lime rickeys and ya know something, the shopkeepers knew how to make em in the Catskill Mountains too. When your Dad turned off 17 to your final destination, you were ready to break the car door off and get into your bathing suit.
As a kid from Da City, I neva forgot Sullivan County. I married a local farm girl from the Beechwoods, raised my girls here, and still am a kid from Da City floating down the Delaware in cut offs and shades.
Have a memory? Make a comment. Meanwhile—if you want a piece of the Catskills, give me a call. We’ll reminisce and I’ll reintroduce you to the Catskills 4 Real.
Read About the Red Apple Rest:
http://www.recordonline.com/apps/pbcs.dll/article?AID=/20070208/NEWS/702080318/-1/COMM02
We baby boomers know the Mountains. We trekked here as children eager to beat sizzling sidewalks and wall to wall brick apartment houses. Mom, Dad, and grand parents packed what fit in the 56 Chevy and took off West to the Catskills. The trip took years. I was probably six.
When the family finally stopped for potty breaks and food, yep—you guessed it; we stood on line at the famous Red Apple Rest in Tuxedo, NY. Seemed like hundreds of people arrived at the Rest at exactly the same time. Was it really that crowded?
A carnival of smells and colors, The Rest was reflective of that tremendously diverse community everyone referred to as Da City. As in: “Where you from?” You’d say: “Da City.” Da city where you played stickball, pick up baseball games, and city park sprinklers made the Catskills a great escape. I hear the Four Season singing Sherrie right now.
Every kid from Da City knows about egg crèmes and lime rickeys and ya know something, the shopkeepers knew how to make em in the Catskill Mountains too. When your Dad turned off 17 to your final destination, you were ready to break the car door off and get into your bathing suit.
As a kid from Da City, I neva forgot Sullivan County. I married a local farm girl from the Beechwoods, raised my girls here, and still am a kid from Da City floating down the Delaware in cut offs and shades.
Have a memory? Make a comment. Meanwhile—if you want a piece of the Catskills, give me a call. We’ll reminisce and I’ll reintroduce you to the Catskills 4 Real.
Read About the Red Apple Rest:
http://www.recordonline.com/apps/pbcs.dll/article?AID=/20070208/NEWS/702080318/-1/COMM02
Thursday, March 26, 2009
Real Estate Is Cold Like the Weather Here in Sullivan County, NY
Real Estate Is Cold Like the Weather Here in Sullivan County, NY
Oh yes, we have sellers-- Sellers who own spectacular vistas, meadows, and mountaintops. But like the cold air temperatures, buyers have taken a chill and resisted the temptation to explore new territory here.
February was more electric with plenty of phone activity and inquiries. I actually was gaining confidence that Catskills Real Estate was warming up to a better market. Colleagues too were busy with the assorted details of our industry.
“Hey, can you tell me the taxes? “What’s going on with that Lake Front in Chapin Estates?” “How off is the Catskill's Property market really”? “Are the contractors buying parcels again? It was music to our ears in our Main Street Office.
We’ve got buyers, yes that is right. We’ve got plenty of sellers as well. Sounds good so far, but the reality of getting these two together has always been the meat of the matter. And—it’s getting more difficult to feed those coming to the table.
Some sellers here have an unrealistic idea of property value. Although this is somewhat typical of many sellers, times dictate serious re-evaluation for this group. Equally frustrating, some buyers have impractical pricing requirements even for today’s flat market. Many buyers are expecting implausible listing reductions.
Buyers and sellers are just too far apart right now. In some measure, both buyers and sellers are unwilling to make the required concessions or compromises to firm up a deal.
It’s my sense that the cold here may not just be in the air. It may also reside in unrealistic buyer and seller expectations.
John Kavaller
Oh yes, we have sellers-- Sellers who own spectacular vistas, meadows, and mountaintops. But like the cold air temperatures, buyers have taken a chill and resisted the temptation to explore new territory here.
February was more electric with plenty of phone activity and inquiries. I actually was gaining confidence that Catskills Real Estate was warming up to a better market. Colleagues too were busy with the assorted details of our industry.
“Hey, can you tell me the taxes? “What’s going on with that Lake Front in Chapin Estates?” “How off is the Catskill's Property market really”? “Are the contractors buying parcels again? It was music to our ears in our Main Street Office.
We’ve got buyers, yes that is right. We’ve got plenty of sellers as well. Sounds good so far, but the reality of getting these two together has always been the meat of the matter. And—it’s getting more difficult to feed those coming to the table.
Some sellers here have an unrealistic idea of property value. Although this is somewhat typical of many sellers, times dictate serious re-evaluation for this group. Equally frustrating, some buyers have impractical pricing requirements even for today’s flat market. Many buyers are expecting implausible listing reductions.
Buyers and sellers are just too far apart right now. In some measure, both buyers and sellers are unwilling to make the required concessions or compromises to firm up a deal.
It’s my sense that the cold here may not just be in the air. It may also reside in unrealistic buyer and seller expectations.
John Kavaller
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