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.
Monday, May 25, 2009
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.
Subscribe to:
Posts (Atom)