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