I Respectfully Disagree with Your Market Analysis

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.
-------------------------------------------------------------------------------------------------
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

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

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.

--------------------------------------------------------------------------------------------

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.
--------------------------------------------------------------------------
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 . . .

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?

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?

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

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