Catskill Country 4 Real

If Buyers and Sellers Only Knew!

2011-12-28T12:43:00.000-05:00

So you want to sell or buy property-- Being reasonably intelligent, at least smart enough to afford your current digs, you research brokers and agents for consideration.

Since this isn’t your first pony ride and you know the basics of buying and selling, you have no need to pour through on-line articles about the process. You figure, pound for pound, a competent agent should have the personal tools to successfully market your property.

Although you’d certainly like to sell out as quickly as possible or buy soon, you understand current market conditions. Furthermore, you have digested factors governing intelligent use of the internet and have a healthy I.Q..

Before you hire an agent/broker, do a little experiment on an anonymous basis. See if the website hype matches the real world.

1. Email your intended agent with a simple and friendly contact request. See if you get a personal response, a canned auto response, or out to lunch scribe back. Also note the time frame in which the correspondence was received.
2. Call the intended agent at his/her office. Are you greeted by:
A. Message of how nice of you to call, but I am not here
B. A secretary who doesn’t know the extension of the agent in question
C. An office dial by name directory with 15 options
D. Any combination of factors that make you want to hang up immediately
3. Use the contact request form on the intended agent/brokers website. Note if you receive a response. If so, how long did the response take?

Although there are many ways to determine service levels, the three I have noted should serve to inform your agent/broker choice.

Contact me anytime.

John Kavaller

Real Estate and Airplanes

2011-07-16T15:10:00.000-04:00

The last time I boarded an airplane, I flew out of Newark, NJ. I could have driven to North Carolina in the time it took me to squeeze into long-term parking and catch my flight. I made last call.

I went through the security checkpoints in a blind fury at the intrusiveness of the airport experience. I'm a bit cranky because my world isn't used to random pat downs and having intimate body regions roughly examined. I'm angry we have to use heavy-handed measures to gain a measure of confidence.

The world has "moved on". That's a phrase I picked up from Stephen King as I read his 7 book Gunslinger series: The Dark Tower. Indeed, the world has moved on! (And oh, by the way--the ending reminded me of another time and space—I’ll hold that thought for another time.)

I was seated on the aisle and flying coach--not the most comfortable, but the most affordable way to get to San Antonio. The aircraft, just shy of fully loaded, had two unoccupied seats next to me- the middle and window accommodations.

Thought I’d lucked out and could put my briefcase and laptop next to me. I’d be working comfortably until I hit O'Hare, my transfer to San Antonio stopover.

The boarding door was just about to close when a very late passenger bursts through, is visibly winded, and somewhat disheveled--clearly upset, as well. Uh-oh--she's heading right to my aisle. Yes sirree Bob. (Remember Buffalo Bob anyone?)

She says, "excuse me" and brushes past to plunk down on the window seat. A sigh escapes unmistakably from this frazzled woman. Ms. "OMG so glad I made it" (yeah--I know the feeling too.) looks at my personal property in the middle seat. She cocks her head slightly and says: "Would you mind sharing the seat? I've got my laptop too and have to work."

"No problem Ma'am, I’m in real estate and used to negotiations. What are you willing to give up for some space on the seat?" I chuckle a bit. After just a momentary icy glare, Ms. Frazzled gets it, I'm just kidding and smiles. "I'm not giving up anything for just a bit of room on a seat you didn't buy and have no right to barter!"

Now it's my turn for the "Death Star Stare” Darth Vader taught me. She breaks out laughing because she got me, got me good. The tension is over and Kenny Rogers, well he sounds like Kenny Rogers, comes on the loud speakers welcoming us all to Flight 1621 out of gorgeous Newark en-route to the Windy City--ride at your own risk and don't forget your personal property on the way out--" No, I won't let the door hit me in the rear. The frisk was enough, thanks very much Captain."

OK--so the Captain Kenny signs off and I get back to my "close friend cause this is a bare all relationship for 2 hours and 10 minutes and I'm never gonna see this gal again conversation." At least, that's what I'm thinkin'.

Ms Frazzled, who actually turns out to be, Ms Georgia D. Grim opens up her lap tap- and starts booting up. We haven't begun the taxi to take-off. Oh well--guess that personal and intimate conversation isn't happening on this flight.

But--I was wrong.. Turns out Ms. Grim was quite a talker, if not a superb negotiator. We conversated, is that a word? (It is a prison word some used to denote a conversation was taking place—Ahem—No, I wasn’t doing time. I was watching those doing 20 to life.)

Oh yeah, back to Ms. Grim-anyway--We talked a straight two hours and 6 minutes. Take-off took about 2 minutes--landing was a bit quicker. Captain K.R. had lift off fine—needed more practice on landings though.

Yeah, yeah, yeah- So What John? This isn't a classic Beatle tune. This airplane conversation idea has great relevance to the real estate process. Here's why?

A random event took place that put Ms. Georgia D. Grim and John Kavaller together--yeah that's me--the John part. We were captive and once the little dance turned out to be not so intimidating, we got on fine. Georgia shared some personal details as I did.

Just remember several of your own trips when the "intimate airline friend" arrives and departs, in what seems like, moments. As you leave the relationship behind at the airport car rental line, your “friend” never looks back to see if you are crying.

And so it is with many real estate relationships. The agent and client come together from a random query on the Internet or a quick text message about a home for sale seen from a car window.

From that kernel, a union forms. The client has a need, the agent a way to fill that need. Clients share detailed and personal information that, given a different moment in time, never gets shared--Yes, it's that personal. Yet, we agents are privileged to the dots and dashes of our client's lives.

And--our clients often get to see into our lives, not just as agents, but as real live people just like them. Our own telegraph lines fill up our lives and somehow intertwine with our client's karma finalizing with a hug and commission check at closing's end.

As I turn off the office lights at the real estate office, my cell phone rings "Hon, can you pick up Little Georgia at pre-school, Donna can't. Thanks.”

John Kavaller
http://www.catskillcountryrealestate.com

The Problem with Real Estate Is:

2011-07-08T14:48:00.002-04:00

The Problem with Real Estate Is:

LIFE GETS IN THE WAY!

A typical phone call might play like this:

Prospect: “Hey, saw your sign on Post Road and wanted to know how much that house is?”

Agent: “Oh, we have two on that block. Was it the green one with blue shutters or the gray one with yellow vinyl siding?”

Prospect: “It’s the green one me and Janet wanted to see.” But, I want to know the list price before anything else.

Agent: “Hold on a minute and I’ll look that up for you right now. (20 second pause for look up) Here it is. The price is 199,900 and the taxes are $5200 a year including property and school. Would you like to see it?

Prospect: “Well that’s a little outside our budget, but I guess it might be OK to take a look.”

Agent: “I have this Tuesday at 2:00 p.m. or this coming Sunday at 10:00 a.m. open. Which day would be better for you?”

Prospect: “Tuesday is fine. My wife and I have the day off. We’ll meet you at the house on Post Road at 2:00 if that’s OK with you.”

Agent: “That’s fine. I’ll bring some more information on the home and property then. By the way, that home is in one of the best school districts in town. Do you have any children? “

Prospect: “Sure do, 2 boys and 2 girls and a real handful.” (Baby starts crying in the background) Gotta run, baby Billy is waking up and hungry. See Tuesday at 2.

How this all really turns out:

The agent’s name is John Kavaller—that would be me and is my real name. The Prospects are Bill and Janet Homebuyer. Bill and Janet are now actually my clients. I am representing them as a buyer’s agent.

Mr. and Mrs. Homebuyer have four kids ages 3 months to ten years old. Bill is a diesel mechanic for the local trucking firm in town and makes an excellent and steady salary. Janet works part-time designing infant clothing in her tiny workshop at home.

The Homebuyers are upwardly mobile, made a good choice with their first home purchase in 1998, and are ready to move on to a bigger home suitable for their large family.

Janet, Bill and all four children show up Tuesday at Post Road. Thankfully, Janet has brought along a mother’s helper to keep the children in order and change a diaper or two during the showing.

Mr. and Mrs. Homebuyer and I have a short chat about their dream home, but we waste no time entering the house at Post Road.

The showing went well. Bill and Janet asked thoughtful and provocative questions and displayed a real understanding of what they wanted and how the home played or did not play to those specific needs.

My clients also mentioned they had a prequalification letter from Best Bank in the amount of $175,000 and had about $20,000 saved in cash. They would be using the cash and an upcoming gift toward the new home purchase.

As the showing draws to a close, Bill says thanks and he’ll be in touch. This house was OK, but not special enough to really think too much about. Janet mentioned she’d be doing some on-line research and get back to me with other properties they might want to see.

Fast Forward—Three Months Later:

Three months have now elapsed. Mr. and Mrs. Homebuyer have not contacted me. No email, no phone calls. Nothing. I’m thinking that I must have offended them or they found another agent they liked better.

I probably should have followed up with Bill and Janet long before the 3 months zoomed by, but I was quite busy with active customers and clients and put them on the back burner. In retrospect, that was not a good idea on my part. But my own schedule got in the way of doing good business.

Several days pass after the 3-month hiatus and I get a phone call from Janet Homebuyer. Billie, Jr., now 6 months old is wailing in the background. The conversation goes like this:

Janet Homebuyer: “Hi John—sorry bout the screaming. Billie’s got a bad cold and just woke up from his knap. Anyway—Bill asked me to call you. We found a house we really want to see. It’s not too far from the one we saw with you—was it like maybe three months ago?”

John Kavaller (Agent): “Hey Janet—good to hear from you again. Should have given you a buzz to find out how things were going.”

Janet: “Don’t worry about that. We had so much going on with the kids. Sports, homework, Bill’s Mom and Dad’s visit from Arizona—that stuff and more really put a stop to us trying to look for a bigger place. Plus Bill just got a promotion and had to move half the diesel workshop to another location. He’s been promoted and is going to take over the entire repair shop for his company.”

John: “Well it’s really good to hear from you Janet and I’m pleased we are still working together. What home did you want to see? “

Janet: “Oh, there’s one on Grand Avenue. It’s right across from the elementary school my kids go to. It’s big, has a very large backyard, and has a fence for Perry-- my big Akita.” Do you have time to show this weekend?”

Summation: LIFE GETS IN THE WAY OF REAL ESTATE.

Clients and customers take up a property search, put it down, change parameters, change locations, lose jobs, get new employment, relocate, recover from surgery, have children, go out on medical leave, start caring for an elderly parent- and so on.

The search for real estate recedes to a lower priority status for many who start the process and disappear without note or fanfare. A sincere agent is able to adjust and move on with the process even though continuity has been broken for a certain time frame.

I know I’ve done my job when the closing papers are signed, the keys handed over to my clients, and life, once again, living gets in the way of real estate.

John Kavaller (NYS Licensed Sales Agent and Realtor®)

Broker Reciprocity The IDX System--Or It's Not Really My Listing

2010-11-21T08:29:00.001-05:00

IDX stands for "Internet Data Exchange" commonly called Broker Reciprocity.

IDX allows non-listing brokers and agents to freely engage in cooperative brokering whereby listing agents and brokers agree to the sharing of proprietary information with other MLS members belonging to a specific MLS Board.

The IDX system allows an agent or broker to show you the entire database of properties listed in a specific MLS Service region even though the broker or agent dispensing the information is neither listing agent or broker. This is a critical point to digest.

The real estate community has determined that the IDX system is a legal way of profiling listings that are not specifically owned or controlled by an individual broker. This widens the playing field so that a seller's property gets broader exposure to all MLS members.

In practical terms, this means for example:

You, the real estate consumer, are researching the Bay Cove area of Anywhere New York State. You've found a super website that lists every property in Bay Cove. You hit the link for a parcel you have interest in.

Immediately, you are taken to 2345 Wavecrest Avenue, Bay Cove, Anywhere, NY. A detail sheet appears profiling 2345 Wavecrest Avenue. Taxes, the school system, bed and bath numbers, square footage, and more enrich your understanding. You are a happy consumer because you've found out a lot about the property you wanted to research.

After reading the information, viewing static photos and perhaps a slide show or video, you scroll down to the bottom of the information sheet. The IDX mandatory disclaimer reads something like this

© 2010 Multiple Listing Service of The ABC County Board of Realtors. All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes from Multiple Listing Service of The ABC Board of Realtors and the Broker Reciprocity Program. Real estate listings held by brokerage firms other than XYZ real estate firm are marked with the BR logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Information last updated on 2010-11-19.

The disclaimer actually announces that you, the consumer, are reviewing a listing presented by a cooperating MLS member and NOT NECESSARILY the listing broker. Although there are many instances where the information will be offered by the listing broker, more often than not, the information sheet will originate from a different source.

Those sources are somewhat contentious from the broker and agent view. Let's suppose you have found some real estate of interest on Zillow, Trulia, or a similar site and, I am a member in good standing of my MLS board.

Furthermore, I also advertise on Zillow. Due to my status as a paid advertiser, my name and contact information show up on every listing in a specific zip code. In other words, no matter what broker owns the listing, my contact information is presented.

You may wrongfully assume I am the listing agent, where in reality, I am simply an MLS member who advertised well. My ad campaign successfully engaged your business.

Now extend this main principle to just about every conceivable on-line real estate information aggregator. My name and contact information is appearing AS IF I am the owning broker/agent. I am receiving your lead based on the IDX principle of Broker Reciprocity because I have employed a clever marketing strategy.

Since this marketing technique works with and against individual listing agents and brokers, I suppose you may surmise the IDX System a zero sum game. The seller benefits greatly, the buyers are exposed to the widest content for research purposes, and the broker/agents get the opportunity to slice the pie in half instead of eating it whole.

You may have other ideas about the Internet Data Exchange (IDX platform). When you call-you may want to ask if I am the listing agent or broker-or, you may not care. I know as an agent, I care a lot.

John Kavaller

Example of IDX Sheet

The MLS and You,The Real Estate Consumer

2010-11-16T17:03:00.000-05:00

As a real estate consumer, you may be interested in understanding how competing brokers and agents really do business with relation to the MLS System.

Let's get into a fairly typical example of a home-buyer lead coming into a broker's office.

Joe Q. Public calls the ABC Real Estate Brokers Exchange on Monday morning, 9:00 a.m. sharp. An agent named Mary Lou answers the phone. After a brief hello, Joe asks Mary Lou about a property he's seen advertised on-line.

Mary Lou does not recognize the property in question. It is not an office listing, company listing, or personal listing. “Hm Mary Lou muses, wonder whose listing it is?” In less than 2 seconds, Mary realizes that Joe has called her office based on a listing owned by a competitor.

Mary Lou needs to buy a little breathing room here so she can keep Mr. Public as a client. Since the information is not readily available, Mary Lou says: "Joe, I'll get that information right out to you. Just give me your contact info. By the way, what did you say the MLS listing number was--perhaps you have the address as well?”

Joe responds politely with a bit more info on the property in question and leaves his contact info before the conversation ends. The call is over and Mary Lou gets to work quickly.

She has the MLS number or the address of the property Joe wants to know about. The MLS number, or Multiple Listing Service Number makes researching the competitor's listing a snap. In several minutes, Mary Lou brings up all the data she needs to get back with Joe Public.

Mary Lou emails Joe the MLS information sheet with all the details Joe wanted to know. Pictures, tax information, school district, number of bedrooms, baths, pool size, and so on. On the emailed info sheet, Mary Lou’s name and company affiliation stand proudly so Joe knows who to contact when he requests more info or wants to schedule a showing.

Mary Lou has done such an efficient and professional job relaying helpful information to Joe that he schedules a home tour of the same property with Mary Lou. Joe and Mary Lou tour the property and two hours later, Mary Lou receives a purchase offer on the home just viewed.

End of story? No, not by a long shot. First off, this is an over simplified description of just one situation that frequently arises in the real estate business. Secondly, even within this scenario, other factors come into play that can confuse a client or customer and cloud the relationship between agent and consumer.

The Multiple Listing Service is a well-known data provider to most consumers. The idea is to gather all broker listings in an electronic format featuring every Member Broker's (read dues paying in good standing) listings. (BTW--in NY State, the broker "owns" a specific listing no matter what agent actually sells that service.)

All members of the MLS have proprietary access to every listing of all the individual MLS Board Members. By express agreement of all the member brokers, all brokers and their agents also have the express permission to access all data collected.

Hence--the MLS system actually sanctions, allows, and encourages co-brokering whereby unaffiliated agents and brokers can share commissions based on one party bringing a buyer and the other bringing the seller to the table.

Statistically, it is far more likely for a property to be sold using the cooperative nature and spirit of the MLS system. Most sellers are aware of this system and ask prospective listing agents if their brokerage firm participates in the MLS system in their respective area.

It is interesting to note that many prospective buyers are unaware that properties are routinely co-brokered. MLS listed agents consistently stress that, no matter what broker or agent actually booked the listing, any MLS agent in good standing has the legal authority and right to co-broker a deal.

To sum this up: If you, the real estate consumer pass a property with a sign that advertises the XYZ Real Estate Company, and you call Mary Lou at the ABC Real Estate Brokers Exchange, it's perfectly acceptable, legal, and honorable to do so as long as both belong to the MLS system. Most brokers and agents do participate.

If you see a listing on other web hosts like Trulia, Zillow, Active Rain, Hotpads, etc., the same principle holds true. You should feel free to contact any agent or firm for more information and a showing as long as they are members of a specific MLS.

OK - So Maybe Giving Directions to The Catskills is Loony!

2010-10-24T17:09:00.003-04:00

Hello Friends--

You may think this post ridiculous, but I've found many a veteran driver from Metro NY, uninformed about the best route and times to travel up here to the Sullivan County, NY Catskills.

Yes, I know there are a number of programs, websites, and routing software (including GPS) that provide directions.

What follows is the very best route I've found to get to Wurtsboro through to Roscoe/Cooks Falls on Route 17. (Soon to be Interstate 86)

Get to the George Washington Bridge- I am originally from Queens and still travel back and forth there frequently. My favorite route out of the City is to take the Grand Central Parkway to the Harlem River Drive. When you get to the GW-(take the TOP-DON'T GO TO FORT LEE!) and over to the Palisades Parkway be sure to stay in the second lane to the right when traveling over the bridge. Make the turn onto the Palisades in the same lane--why slow down? Take the Palisades all the way up. DO NOT GET OFF AT THE THRUWAY!

Go past the Bear Mountain Bridge exit and proceed to the traffic circle. Go 1/2 way around and make right up the Long Mountain Parkway. The Long Mountain Parkway runs from the traffic circle you just went round directly to State Route 17 West (86 West). It's about 7 or 8 miles. Since the interchange was redone, it's a breeze to enter 17.

At night--it is quite easy to wind up on the road to 9W. If you're not paying attention and you are in the right hand lanes-- you'll be a happy Sullivan County camper later rather than sooner. Stick to the two left hand lanes passing by the Anthony Wayne Recreational Area in Harriman Park.

You've effectively eliminated using 87 North or South (coming home). The drive is more interesting and varied, and if you're driving your ragtop, a great way to smell life.

The best times to drive up: Well again--most city folk know all about rush hour. If you can't start out on Thursday, begin before dawn on Friday. If that doesn't work--try to hit the Palisades no later than 2:00 pm. Or--suffer all the BS entailed going to the mountains during peak traffic time.

Constructions at Middletown is a problem and expect slow downs coming both ways during peak travel times to the Sullivan County Catskills on Route 17 (86). Finding your way around by circumventing 17 in Middletown can be a real loser if you don't know the back roads out of Middletown--for instance-Do You want to Get Lost in Otisville? No one lives in Otis and the founding family simply added the ville because it was politically correct. But you could stop and tour one State Prison and one Federal Prison while you're lost there. Better call first to make an appointment though.

Now coming on home, read this post backwards. Be sure to leave before everyone else does or Whammo--you get to sit in traffic for hours again and rue the day you decided to buy that second home.

By the bye-- If you need help with the back roads, call me.

Do You Need A Real Estate Pro?

2010-09-07T11:08:00.000-04:00

Do You Need A Real Estate Pro?

I asked the question because it is absolutely critical for consumers to define our legitimacy and value for themselves. Hopefully, by offering our own ideas of how our service expedites and smoothes the process, the consumer comes away with sound reasons for using real estate agents.

Some people prefer to walk the new or used car lot alone with no help (read interference) from a sales person. Others want a full-blown tour of the lot as the sales person explains different makes, models, and options.

Much like home shopping, car shopping involves many of the same issues of home ownership. Big-ticket item, insurance, registration, taxes, paperwork and a myriad of other details attended to by the salesperson and dealership.

In essence, the car salesperson expedites the sale and transfer of a vehicle to the end consumer. For that service, he or she receives a commission. Those who know the auto sales business understand that good moral fiber, honesty, and sincere service are rewarded by repeat business from the family and friends of the buyer.

How different is this process from introducing folks to our listings or working as a buyer’s agent? We have a copious amount of proprietary information we can easily access for answers. The consumer can also access the same information, albeit more slowly and perhaps less accurately.

Buying and selling real estate is not rocket science. As real estate professionals, we should be careful to define what our functions are and how they serve to benefit our clients and customers.

A good agent wears many hats and is an expediter. Quite often we act as the middlemen/women between two views that need melding and agreement. Whether negotiating price, getting tax information, scheduling and conducting viewings, we certainly perform valuable services for those who understand how special knowledge lubricates the buying and selling process.

John Kavaller

Other People’s Money or Why You Need A Real Estate Pro

2010-09-06T13:58:00.000-04:00

The Real Estate Industry is flush with jokers, red herrings, and fast talkers. As with most businesses, the opposite is also true. Professional and ethical sales people are legion as well.

The professional real estate sales person, especially those who earn a living based on commission alone, barter time, energy, and hopefully expertise, for a payday upon closing. The agent performs a valuable service in return for substantive remuneration.

Conceptually, what could be better than using other people’s money (OPM) to earn your own living? Typically, the seller pays a commission upon the successful completion of a sale. The listing broker and or agent leveraged the seller’s resources to gain specific financial gain without risking a dime.

Sounds like a super model to me. Much like the auctioneer who receives a seller’s premium, buyer’s premium, or both, the broker/agent gets a cut off the top thereby earning a healthy living for his/her trouble.

Buyer’s agents often represent clients for a stipulated commission that is akin to a professional consulting agreement. Much like an attorney receiving a specific award percentage for services rendered, the buyer’s agent gets paid by successfully completing a sale for his/her client.

Opening shop requires a license, perhaps a sponsoring broker, phone, computer and access to listings. Start-up costs can be minimal when compared to the expenses borne by other business models.

Is it any wonder why so many seem to be involved in real estate sales? Of course not. And—why the heck do you need one of these people to represent you? What can a real estate agent possibly do that you can’t?

Glad you asked. Let’s use the attorney example. You can represent yourself pro se in court if you choose to. If you believe you have the skill, experience, and determination to win a tort case, you may opt to argue your case as a layman.

Chances are, you won’t win, but you certainly are welcome to state your case without a professional at your side. Most personal injury lawyers don’t get paid unless they win your case. So, you aren’t paying for services unless there is an award in your favor.

Where is the downside? Oh yes—if you manage to win an award pro se, you get to keep the entire award. And, if you lose, you get zilch. Would you truly consider representing yourself after your auto accident?

This logic also holds true for representing yourself in personal real estate transactions. Of course, you have the right to carry out the mission. If you are a buyer, why would you try to navigate the real estate tide by yourself? The seller is paying out the commission, not you.

You may reason you can cut a better deal with the seller by cutting out an agent. Let’s say the seller must pay a 6 percent commission upon the successful completion of his home. Makes sense to ask the seller to reduce his price by a minimum of that amount because of the commission savings. Right?

Not a bad strategy, but you, the potential buyer are leaving a whole lot of money in the seller’s pocket if you haven’t correctly assessed the market. If you’re negotiating 6 percent below asking price, you’re probably paying too much—especially in today’s market.

So go ahead and lowball the price and negotiate up from your first offer? Sound right? Could be a good strategy, but maybe not. Maybe the owners will just tell you to get lost. Maybe you don’t care if the seller’s walk away; but I’ll bet if it’s a home you really want, it makes a very big difference.

Now what do you know about obtaining a mortgage? What do you know about points, application fees, FHA programs, Fannie Mae, Freddie Mac, home inspections, title companies, deed filing, transfer taxes?

Who writes up the sales contract and why? What happens if you don’t understand the contract or want revisions? What the heck is agency anyway and why does that affect you? Should you hire an attorney? Is it mandatory to hire a lawyer for your transaction?

There’s an oil tank in the ground. Should it be tested? Is it leaking? If it is, who is responsible to get the mess remediated. What the heck is a binder and what happens to it if the deal falls through? Leach field, your own well, colliform? Hm? “Ah-just dump some bleach down the well head”—“say what”?

Sure—there are a lot more situations and circumstances that arise in real estate transactions. And frankly, with a computer and some commons sense, you can probably find the answers for yourself. It may take you substantial time, but you certainly can go it alone if that makes sense for you.

For the Seller—Want to save on the commission paid out? May not be a great idea. You may wind up saving a few percentage points, and losing out on a much higher selling price because you don’t do this sort of thing for a living. You may wind up pricing incorrectly for the market place and sit twiddling your thumbs whistling Dixie.

Or you could get lucky—really lucky and have a buyer come along and give you exactly what you want. In today’s market, that is even more unlikely than it was several years ago.

For the Buyer: What is the downside of using a professional real estate agent? I can’t think of one. I could send you a link to the National Association of Realtors site listing all the benefits, but then I’d be accused of be a talking head for NAR and entirely unoriginal—perish the thought.

At any rate, share your ideas as to why or why not using a real estate pro is the way to go or not go. There will be those that consider the logic here entirely self-serving with no merit whatsoever. If you are among that tribe, craft a response that presents your side of the issue. I am sure the public will appreciate your perspective.

Big Smiles Make Me Cry

2010-08-05T10:43:00.008-04:00

Big Smiley Faces

Are not particularly good at defining quality or excellent service. If your specific tastes run with how an agent is packaged, then I suppose, a big smiley face is an important aspect of choosing a real estate representative.

Big Smiley Faces

Are not indicative of substance. It is not difficult, nor does it require any real estate knowledge to sit for a fashion photograph. Gleaming white teeth and perfectly matched accessories don’t mean you, the client or customer, achieves excellent pricing for the property being purchased or sold.

Big Smiley Faces

Are not necessarily stylish or graceful in person. Calmness in the face of challenge, negotiating skill, rational thinking, and research based on analysis are some factors that actually DO translate to credible service for your commission dollar.

Big Smiley Faces

Work well for used car salesman some of the time. Shiny gold colored cuff links, monogrammed shirts, and paisley ties certainly do have their place in the business world; but do you want this sort of representative when you are buying or selling a top asset?

Big Smiley Faces

Are often displayed in other ways besides good looks or lack thereof. Hiding behind paperwork, making up answers without having the real answer, hesitating too long when a direct question is asked, and ignoring your requirements often go hand in glove with the grand smile approach.

Big Smiley Faces

Indicate, at least to me, that the advertiser is more concerned with themselves and how they look than they are with how best to represent your interests. Those who know this business are not likely to brag. I keep my personal and intimate life off the Internet—regardless of the social networking milieu that’s the current social idiom. Big, splashy presentments are usually lies covering up truthful representation.

Big Smiley Faces

For some reason, have become part of traditional real estate web design. I don’t know why. Being beautiful, having brilliantly white teeth, perfect accessories, sturdy face with just enough ruggedness to portray the manly approach are fine. These attributes, however, should not be the main focus. Mr. Clinton, then vying for the presidency used: It’s the customer and client stupid, not you, who is important." Well- I did take just a bit of poetic license to adjust the slogan.

And--I am going to remove my photo soon--promise!

What you need to put a deal together

2010-08-03T17:20:00.000-04:00

What you need to put a deal together

Conceptually, buying and selling property is no different than buying or selling any other commodity. Basically--a product, buyer, and seller define the process. Why then does it seem difficult, especially in current climate, to bring a fair deal to the table?

Kick these around and see if they ring true for you.

1) Lenders are not being especially cooperative or efficient: If the former rule of thumb was to lend to almost anyone, the current climate now often denies individuals who are credit worthy.

Where no documentation was required, the lending institutions now require several paper mountains to accumulate and be reviewed by over worked underwriters. My recent dealings with lenders demonstrates a lack of motivation to lend.

(Side note on single and double wide manufactured homes: In our rural area, single and double wides abound. Single wide mobiles are totally off the table. If a client can't buy for cash, they are out of luck. Double wides are extremely difficult to get through. The interest rates are 1.5 to 2 points higher for funding than conventional loans. Additionally, loan terms are generally a maximum of 20 years. Lenders often require 30 or more percent down. Although some financing programs still do exist (FHA)the stringent requirements, soon to be even more stringent, disallow our working populace the pleasure of owning a home.)

2) In my home market of Sullivan County, NY, sellers still remain somewhat unrealistic in their expectations. New listing prices are often not supported by current market conditions.

3) Buyers, knowing it is indeed their market, are lowballing offers that simply don't make the grade. It is one thing to offer a certain percentage below realistic pricing, say even 20 percent for starters; it is quite another to slash a well documented price tag by 50 percent. Recent data in our county suggests that 12% percent below adjusted asking prices (prices revised downward from original listing price) are the number at which most consummated deals are made.

4) Our economy is not conducive to buying homes. Home inventory is quite high and serious buyers are scant. Prices may yet fall further. What are the incentives to move quickly on a purchase?

5) Appraisers seem afraid of using the higher comparables available for analysis. Experience in my home market demonstrates that deals fall through based on properties not apprising out--a mortgage killer in many circumstances.

Although many other factors are involved in real estate transactions, the points discussed here are more than enough to make seasoned veterans bite their nails.

So--I closed a deal on Monday

2010-06-22T12:01:00.002-04:00

The saga started in February 2010 Yes ma'am, that's right. 4 months later, Wells Fargo Bank decided they would fund the loan and allow my clients to close.

The transaction went smoothly at first. Both buyer and seller came to a quick agreed upon price. The FHA inspection went very well. My client scrupulously dotted her I's and crossed her T's. She should have said more Hail Marys though.

The owner traveled up from Florida to arrange the selling details. Little did he know that the couple of week trip would burgeon into a full-fledged two-month ordeal of sleeping in an empty house on the floor. His patience went south as the process kept dragging on.

My clients were living out of cardboard boxes and eating cereal-- all three meals-- while their lender sliced, diced, mixed, pureed, and heavily salted the lending file. They could not have been working on my client's file in a professionally seasoned way. This loan was not getting cooked at all--it wasn't even thawed.

I did what any self-respecting realtor would do. I called the loan officer at Wells Fargo numerous times and was assured all requirements were met. Then, I'd call and asked: "When will the loan come through?"

Ms. Loan Officer replied: "Oh, it's in underwriting and out of my hands." I'd call again and inquire as to the loan status. Ms. Loan Officer said: "Oh, so glad you called we need 50 more documents. Underwriting sent it back to us."

I responded: "Oh, you want us to send the 50 documents we sent you 2 months ago?" Ms. Loan Officer responded: "Yes, somehow, they never got to the file." My last two calls to Ms. Loan Officer never were returned.

It's pretty evident to me that Wells Fargo isn't interested in mortgage lending. I don't know what they are interested in doing, but helping buyers into homes is certainly not on their current agenda--don't know if it ever was.

It's pretty evident the loan officer wasn't doing her job well, professionally, or attentively. I suppose you can just file your nails and get paid for doing that.

My clients were furious with the entire procedure. I was furious with the entirely hostile lending environment and attitude of Wells Fargo and their representatives. Needless to say, I will not suggest any of my clients use Wells Fargo.

And you know something? I think that's exactly what Wells Fargo had in mind.

P.S: Oh yes, we did close yesterday--thanks Wells Fargo

Business is Business-All Is Fair in Real Estate, Love & War

2010-03-21T14:03:00.000-04:00

If I may take a very hard stance here: My opinion is based on business reality. The fact that you renovated beautifully, sunk a ton of money into your Victorian, and are receiving mildly interested offers at 15% or more below your asking price is a common problem in today’s real estate market here in Sullivan County, NY.

These facts pertaining to your home for sale are important to be sure. The pricing model, however, needs to be reworked.

Buyers understand current market condition to be in their favor by a wide margin. The psychology is fairly simple: " I am the buyer (a rare breed these days). I have the cash and financing, and if these sellers won't negotiate down to what I consider a bargain, I'll find another seller that really needs to get out."

Sitting at the poker table with your last $20.00 bill means one thing to an experienced player--you're out of the game next hand. If you cannot afford to keep your Victorian due to financial difficulties and telegraph this to anyone, you have a problem. In essence, you too are out of the game and will not get an acceptable offer on your terms.

If I were a potential buyer, I'd preview your house, get your financial situation clarified, (and there are a number of ways to investigate your financial condition.) and low ball my offer and leave it stand. As harsh a reality as this is, deals are being consummated based on buyer awareness that there are a ton of properties out there and the price can be negotiated down, down, down--business is not supposed to be emotional. It's supposed to be factual.

A caveat here: No sellers are anxious to divest at fire sale prices; but, in order to move the property, it is the only option. If you are, however, in a desirable market where inventory is low, you may be in a much better sales position--even considering today's climate.

It is my sense that deals are being made based on the "blood in the water" model. Easy prey gets eaten first. In order to sell YOUR property, you must know how the other side operates and counteract that "play" with your own strategy.

You must always negotiate from strength or you lose out. What power position(s) can you legitimately present to a potential buyer? How can you portray that your Victorian is just the right home, at the right price, and you are willing to consider some creative selling options?

Can you hold paper at an attractive interest rate? Are there comps that justify your asking and final negotiated price target? How is your agent marketing your home? How should it be marketed? Can you delay selling?

There are thousands upon thousands of homeowners who got caught up in the house flipping frenzy and are now experiencing difficulty hanging on. I am not suggesting that you fall into this category, but many do.

And--this is MY perspective at this time in my market place of the Sullivan County Catskills. Your question is one that seller's are always asking and it is a great opportunity to address just a few of them here.

John Kavaller
Licensed NYS Agent & REALTOR®
845-482-3200 Ext. 13: Office
845-492-0261: John’s Cell
john@catskillsales.com
http://www.catskillcountryrealestate.com/

To Call or Not To Call, That is the Question

2010-02-27T16:45:00.004-05:00

Mike Nastri, on Active Rain, Raised this question HERE

The quote below is from Realtor ®Mag and referenced by Mike. It is repeated below for clarity.

Best Practice #2: Don't Call Them

If you've somehow acquired a prospect's phone number and you're tempted to pick up the phone, stop yourself. It's generally a bad idea. Why? You risk driving that potential client away because in all probability, he or she just wanted information, not a salesperson trying to set up an appointment.

Most human beings feel vulnerable and defensive when they're on the phone with a salesperson with whom they don't have a relationship. That's one reason why Internet is such a popular place for prospects' to gather information before speaking to a real estate professional.

So, is it ever appropriate to call an online prospect in response to an online inquiry? Yes, there are a couple of exceptions.

•If the prospects explicitly ask you to call them and provide their phone number.
If it is clear that the lead has come directly from your highly targeted Web site, and the prospects offered their phone number voluntarily (in other words, they were not forced to reveal it in order to access information on your site or order a report). It's so important the lead comes from your highly targeted Web site because then it's more likely they've already learned about your business and have started trusting you. That's a contrast from most inquiries from third-party lead generation services or "one size fits all" sites are actually quite cold.

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Since this is such a hot topic, I asked the Trulia Audience the following:

There is a debate raging within the professional real estate ranks. The conundrum centers on this question: Should real estate professionals take the initiative to call people who register on their websites?

As a real estate consumer, your opinion is highly valued. What follows is a prominent dilemma we face as professionals in this very competitive field.

Scenario: You (the real estate consumer) arrive at a super real estate website. You have come to the site because you want to search home listings for a certain area. You click on FREE Search and arrive quickly at the search area. Here you input your search criteria, press search, and there you have it--a parade of listings that hold your interest. When you press for the next page-a registration page appears. You are asked for contact information. Please give us your name; telephone number, and email address are the basic questions. In order to proceed with your search, you have to input your information.

Question: Is this a fair trade off in your mind? You are trading your personal information for the opportunity to continue searching. You realize that the outfit asking for the information will probably contact you. Do you want to be contacted? If yes, in what way? Via email? Via Phone? Both?

Question: It is difficult to know what consumers want and or expect. When you leave your personal contact information are you leaving it so you are contacted? Leaving it as the price of admission and feel coerced? Angry that the website owner/sponsor requires you leave personal information.

As a legitimate consumer seeking real estate services, what approach should real estate professionals use to gain your business? This is the central issue.

Your responses are truly appreciated and will open up thousands of eyes in our field. Thanks for your help folks.

John Kavaller
Licensed NYS Agent & REALTOR®
845-482-3200 Ext. 13: Office
845-492-0261: John's Cell
john@catskillsales.com
http://www.catskillcountryrealestate.com/

I have cash and it seems no one wants it!

2010-02-20T11:06:00.005-05:00

From Trulia Home Buyer Swimhikesky SAID:
I am looking for a second home in Sullivan County NY. I'm getting so frustrated because it seems that sellers are not being realistic in this market and are being very firm in their asks. What makes it even more difficult is the fact that nothing is selling up there and there are no real comps. I've been bidding about 15 or 20% off the ask and willing to negotiate from there. Is it me who's being unrealistic? I have cash and it seems no one wants it!

I answered:
Hello Swim-Hike-Sky--So you like to swim, hike, and maybe skydive or rock climb. Great handle there. Great question. Here's my take:
Comps are difficult to come by for certain properties. We don't have large row house developments or hundreds of tract homes from which to draw. Acreage varies substantially from property to property. Water front factors also contribute to lack of clarity in the general pricing model. Almost every parcel is unique in character, age, and disposition.
Local homeowners are very different from second homeowners. Sullivan County is not known for high salaries and luxury condominiums--although, we do have some of each. We locals may be bit more negotiable if we intend to sell.
Second homeowners, however, are much different. Since, in many instances, there is no financial pressure, the seller just crosses fingers and hopes to get an unrealistic higher price. These are not serious sellers. They are casual sellers unmotivated to move their property.
Some second homeowners are bleeding, but not profusely enough to come to their senses. I think reducing listing price to reasonable current market conditions is certainly the way to go. Most real estate folks agree that legitimate pricing is a prime factor in bringing buyer and seller together.
When I make a listing presentation, I let the seller know that the best shot at selling has more to do with correct pricing than my skills or experience. Reasonable pricing, using the best available comps, lubricates the successful property sale.
Some of those comps may be derived from sales more than 12 months ago--perhaps even longer because of the economic malaise here and across the country. Generally, you'd want to have the most recent sale stats to gage an opening negotiating stance. Due to the lack of overall sales, comparables remain elusive. Those apples to apples comparisons we do have, show a very real decline in average sold prices.
Negotiations often ruffle feathers. Matching a buyer and seller involves misplaced feathers sometimes as well. Find out as much as you can about the seller's needs. Maybe a quick closing, or rent back clause would bridge some of the monetary issues that tend to upset sellers when they believe they are being lowballed.
Meanwhile--good luck with your search.
Visit The Sullivan County Catskills Now
Contact Me Here For More Information
John Kavaller-Licensed NYS Agent & REALTOR®845-482-3200 Ext. 13: Office-845-492-0261: John’s Cell

I Respectfully Disagree with Your Market Analysis

2010-02-18T10:04:00.005-05:00

He Said:

DEAR JOHN

GREETINGS.
THANK YOU FOR INFORMATION, UNFORTUNATELY, I WAS INFORMED, THAT ------------------------------- (IT)IS NOT A WISE PLACE TO INVEST AT THE MOMENT, MARKET IS DOWN AND HEADING DOWN, HOUSE PRICES FALLING AND TAXES ARE SKY HIGH, PLUS MANY TENANTS DEFAULTING ON RENTS.
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I Replied:

Hello Investor:

While I respectfully understand your assessment of the the market place in the Sullivan County, New York Catskills, I'll comment that your conclusion actually applies to almost the entire country. You seem to be a very serious investor and a person who knows the rental business. My grandfather was an immigrant who made a fortune in NYC real estate prior to the Depression. After the Depression, he made yet another fortune. Why?

Because he had some cash that others didn't have and knew opportunity when he saw it. There are always tenants who will not pay the rent. That's just a simple fact. Taxes go up just like all other items. Now, can you get a better deal for your money? You may be able to find property where taxes are low and tenants always pay. When you find that situation and can guarantee it, I'd like to be your partner.

My meaning is very simple and straight forward--you've been around awhile and so have I. Tenants will always be tenants. Taxes are a sure bet. "Experts" are a dime a dozen. I can find you experts on both sides of the fence saying exactly the opposite of each other on any given topic on any given day. Those who do not follow the crowd are the most successful investors and property owners.

I can find many reasons not to buy. Everyone of them makes sense. Every one is logical. We'd still be in the stone age if those who really knew didn't take a chance and bet the bank on an idea that came of age and made an absolute fortune.

To sum up Sir/Madame-I'm not trying to convince you that this situation is right for you. I am responding to your logical comments--because they make sense, but miss the mark. It is exactly because taxes are high and some tenants may not pay (As far as I know, that doesn't happen to be the case with these apartments), that you'd get a super deal on a place that will pay for itself over time, year after year, through good and bad times. That's just the way a solid income property works if you maintain it properly.

REALTORS® Need the Moral High Ground

2010-02-13T14:07:00.001-05:00

The public is well served by real estate representatives who truly subscribe to a moral and ethical personal view. Those with integrity behave with dignity modeling the Golden Rule.

I believe the optimal agent is one that renders purposeful service backed by experience, maturity, and client/customer focus. Expediting “the deal” means advocacy for the party you represent.

Disclosures, transparency, clarity of purpose are among the qualities defining excellent service. Why do Realtors need the Code of Ethics? Unfortunately, not all of us really conduct our business this way.

It is my hope; we all endeavor to do the same. Your thoughts are most welcome and appreciated.

Gambling In the Sullivan County Catskills of New York

2010-02-08T15:23:00.003-05:00

HERE WE GO AGAIN-GAMBLING IS BACK ON THE TABLE

Gambling has been on and off the table here in the Sullivan County, NY Catskills for many a year. Our area is well situated for gaming, a point the players in casino development well understand.

The Catskills are closer to the NYC Metro Area than Atlantic City, Foxwoods, and the Mohegan Sun. There is just a vast pool of customers from which to draw and we’re just a couple of hours from Manhattan. Gaming makes sense, except it’s never materialized

The hotel industry, in its heyday here in the mountains, floated the idea on numerous occasions. Off reservation Indian Tribes have made deals, canceled deals, re-instated deals. New York State has been supportive of the gambling agenda at times, while other times, the political climate ran in the opposite direction.

Perhaps the most difficult hurdles to overcome were the federal and state legal requirements that would allow legalized gambling in New York State. Even those issues seemed to be overcome within the last several years only to be killed by Mr. Kempthorne, former Bureau of Indian Affairs ruled Off-Reservations Tribes did not qualify for gambling venues outside specific reservation lands.

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By Victor Whitman
Times Herald-Record
Posted: February 10, 2008 - 2:00 AM

What happened? (To Gambling In Sullivan County?)

SEE SIDE BAR from above article

The rejection

Interior Secretary Dirk Kempthorne on Jan. 4 rejected 11 applications for off-reservation casinos, including the St. Regis Mohawk proposal at the Monticello Gaming & Raceway and the Stockbridge-Munsee Band of the Mohicans project in Bridgeville. Nine other tribes were notified that their applications were incomplete.

On what basis?

The Interior Department adopted the policy of "commutable distance," denying the casinos because the tribal members could not commute from the reservation to the site of the casino, in the Mohawk's case 350 miles away. This clarifies Interior's longstanding regulation to grant more scrutiny to land into trust applications proportional to the distance from the reservation. Marking another shift in policy, Interior issued a blanket rejection of the 11 projects based on this rule, having previously notifying the tribes that each project would be evaluated on the individual merits. As to the Mohawk project, Interior ignored state and local support.
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The gaming issue has had a torturous route—at times so close to actual approval, developers, architects, and serious plans were set before the formal political machinery of Sullivan County.

Actual tribe negotiations took place, planning and zoning boards reviewed site details. Yes, we almost had the opportunity to tap into a tremendous entertainment reservoir perfect for our County—at least, that’s what gambling proponents claimed.

A wealth of relevant information exists on-line. Suffice it to say, I’ve opened up this topic because, yet again, gaming in The Catskills is heating up again.

Here’s the article explaining why gaming may be back on the table in the Catskills:

Here is a timeline for the Casino Gambling Issue in the Catskills of Sullivan County, NY.

John Kavaller
Licensed NYS Agent & REALTOR®
Catskill Sales Associates, Inc.
http://www.catskillcountryrealestate.com/
845-482-3200 Ext. 13: Office
845-492-0261: John’s Cell
845-482-3632: Evening
john@catskillsales.com and catskillsrealestate@gmail.com

You Just Want To Sell Me Something . . .

2010-01-31T10:23:00.005-05:00

Actually, you’re right—but I want to sell you what you want, not what I want. We’re talking about a home not a used car. In order for me to “sell” you that home, you must be “sold” yourself.

Experts suggest you find an agent that fits well with your personality. This professional relationship is central to good service and finding you the right property. You’ll want to work with a realtor you trust—one working to meet YOUR objectives.

The realtor actually helps you sell yourself by providing information relevant to your specific goals. The wide array of important details like, tax information, neighborhood pricing comparisons, school district locations, mortgage lenders, home inspectors, attorney or title company recommendations play an important role in the process. And, these services are only a few necessary components to consider when purchasing a property.

You want clear and relevant explanations to your questions. You want guidance in the negotiating arena; you want solid opinions based on experience. You want a personal accommodation indicating YOUR needs come first.

I won’t tell you how to spend your money, but I will work diligently to earn your trust by providing excellent and timely information. Buying a home is not a hard sell proposition in my book. I PROMISE NOT TO SELL YOU. I WILL PROVIDE SERVICE ALLOWING YOU TO SELL YOURSELF.

Want To Live Privately, Comfortably, and Affordably?

2010-01-24T14:51:00.007-05:00

These are not idle words simply meant to peak your curiosity. These descriptive terms define the essence of what the Sullivan County Catskills of NY really mean to me.

Being married to a native daughter of these mountains gives me some perspective on the life style here. My very own dairy princess comes from a farming family in the Beechwoods Area of Western Sullivan County.

These Beechwoods, defined locally as the road that runs over the mountains between Jeffersonville, NY and Callicoon, NY (County Route 164) are home to majestic views, somewhat isolated property parcels, and my wife’s home farm.

Many second home residents have chosen to live on this rural route and extend their abodes to the surrounding hills, dales, and glens of this truly bucolic and serene landscape. Of course, the original families and local folks also share the bounty of this land.

The rural nature of Western Sullivan County lends itself to privacy. We have a small year round population which means fewer neighbors.

Comfort is a personal concept. I’m positive you have already interpreted how you want to relax. I am reinforcing that privacy and comfort are often critical factors in wanting to be here in the mountains.

Affordability is also a key element for those wanting privacy and comfort. Not much has changed since your parents and perhaps grandparents made off to the mountains in search of a cooler summer and a swim in the Delaware River.

Western Sullivan County, NY is awaiting your exploration. When you settle down here, be prepared for a slower, sweeter, and more affordable life style. You deserve it.

John and Marilyn

Where is Dimock, PA?

2009-10-18T21:20:00.004-04:00

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.

It's time to pull the trigger

2009-06-04T18:33:00.005-04:00

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

Natural Gas Drilling Update

2009-05-25T15:00:00.003-04:00

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.

Catskill Real Estate Market April-May 2009

2009-05-18T16:10:00.009-04:00

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.

Good news for Sullivan County Real Estate

2009-05-05T15:49:00.003-04:00

Real Estate is Like Playing Poker

2009-04-22T14:15:00.003-04:00

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?

So You Want A Place in the Catskills?

2009-04-15T14:35:00.008-04:00

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.

2009-04-09T16:55:00.004-04:00

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!

2009-04-05T18:09:00.006-04:00

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.

The Red Apple Rest, The Mountains, and Da City

2009-03-30T10:00:00.005-04:00

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

Real Estate Is Cold Like the Weather Here in Sullivan County, NY

2009-03-26T09:31:00.004-04:00

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