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?
Wednesday, April 22, 2009
Wednesday, April 15, 2009
So You Want A Place in the Catskills?
There’s a lot to think about. For instance:
Do you really want to drive a little over 100 miles and take a swim before dinner?
Are your children ready for the fresh air, cool breeze, and sunshine?
Will Mom and Dad fit into the double bed at the farmhouse?
Do you really feel like taking a 3 or 4-day weekend to relax and enjoy life?
Peter-Paul-and Mary are playing Bethel Woods July 31st, should we buy tickets?
Should we do some horseback riding or maybe tube at Skinner’s Falls?
Sure there is a lot to think about. But why wouldn’t you want to come on up to the mountains?
It’s just around the corner. You can be up in the same time it takes to creep down Madison Avenue or the LIE.
Making Sullivan County your second home choice makes good sense—especially in today’s market. Super properties featuring views, water, and pastures are available at very advantageous price points.
Interest rates, the new home buyer’s $8000 credit, and excellent inventory have created the perfect storm. So you want a place in the Catskills? Welcome Home.
Do you really want to drive a little over 100 miles and take a swim before dinner?
Are your children ready for the fresh air, cool breeze, and sunshine?
Will Mom and Dad fit into the double bed at the farmhouse?
Do you really feel like taking a 3 or 4-day weekend to relax and enjoy life?
Peter-Paul-and Mary are playing Bethel Woods July 31st, should we buy tickets?
Should we do some horseback riding or maybe tube at Skinner’s Falls?
Sure there is a lot to think about. But why wouldn’t you want to come on up to the mountains?
It’s just around the corner. You can be up in the same time it takes to creep down Madison Avenue or the LIE.
Making Sullivan County your second home choice makes good sense—especially in today’s market. Super properties featuring views, water, and pastures are available at very advantageous price points.
Interest rates, the new home buyer’s $8000 credit, and excellent inventory have created the perfect storm. So you want a place in the Catskills? Welcome Home.
Thursday, April 9, 2009
Yeah Woodstock!
Boomer One: Man, it was something. Were you there?
Boomer Two: No, I but could have been.
Boomer One: Well, where was this massive get together?
Boomer Two: What get together?
Boomer One: Are you high?
Boomer Two: High—like no, but just about everyone at Woodstock was partying ya know.
Boomer One: Bout ½ million folks jammed into a hay field way out in the country man.
Boomer Two: Really.
Boomer One: Yeah really.
Boomer Two: I’m confused man.
Boomer One: How come?
Boomer Two: Woodstock wasn’t in Woodstock
Boomer One: No sh-t!
Boomer Two: Where was it?
Boomer One: All this time, you never bothered to find out?
Boomer Two: I was busy making lots of money.
Boomer One: Were you a hippie?
Boomer Two: I never wore underwear back then, so yeah-I was a flower child-sort of.
Boomer One: Anyway-you asked about Woodstock.
Boomer Two: Yeah.
Boomer One: Woodstock NY was where the party was supposed to happen but didn’t.
Boomer Two: Knew it was something like that—so where did it really happen?
Boomer One: Place called Yasgur’s farm in Bethel, NY.
Boomer Two: Bethel, NY? Doesn’t sound like Woodstock to me.
Boomer One: You must still be smoking that wacky stuff.
Boomer Two: Naw, had to settle down and wear a suit.
Boomer One: Bethel NY became Woodstock even though it’s 75 miles away on the other side of the Hudson.
Boomer Two: Hudson?
Boomer One: Hudson River man.
Boomer Two: Oh.
Boomer One: East side of the Hudson -- that’s where the Town of Woodstock is. West side of the Hudson—you know—the Jersey side is where Bethel, NY is and where the Rock n Roll blast went down.
Boomer Two: Wow—I needed that!
Boomer One: Man, it was something. Were you there?
Boomer Two: No, I but could have been.
Boomer One: Well, where was this massive get together?
Boomer Two: What get together?
Boomer One: Are you high?
Boomer Two: High—like no, but just about everyone at Woodstock was partying ya know.
Boomer One: Bout ½ million folks jammed into a hay field way out in the country man.
Boomer Two: Really.
Boomer One: Yeah really.
Boomer Two: I’m confused man.
Boomer One: How come?
Boomer Two: Woodstock wasn’t in Woodstock
Boomer One: No sh-t!
Boomer Two: Where was it?
Boomer One: All this time, you never bothered to find out?
Boomer Two: I was busy making lots of money.
Boomer One: Were you a hippie?
Boomer Two: I never wore underwear back then, so yeah-I was a flower child-sort of.
Boomer One: Anyway-you asked about Woodstock.
Boomer Two: Yeah.
Boomer One: Woodstock NY was where the party was supposed to happen but didn’t.
Boomer Two: Knew it was something like that—so where did it really happen?
Boomer One: Place called Yasgur’s farm in Bethel, NY.
Boomer Two: Bethel, NY? Doesn’t sound like Woodstock to me.
Boomer One: You must still be smoking that wacky stuff.
Boomer Two: Naw, had to settle down and wear a suit.
Boomer One: Bethel NY became Woodstock even though it’s 75 miles away on the other side of the Hudson.
Boomer Two: Hudson?
Boomer One: Hudson River man.
Boomer Two: Oh.
Boomer One: East side of the Hudson -- that’s where the Town of Woodstock is. West side of the Hudson—you know—the Jersey side is where Bethel, NY is and where the Rock n Roll blast went down.
Boomer Two: Wow—I needed that!
Sunday, April 5, 2009
Welcome to the Catskills. Pull up a chair, relax, and participate. This blog is not moderated and solicits all opinions. Although primarily aimed at real estate issues within the greater Catskill Region of Sullivan County, New York, I welcome all input and comment relative to our area.
Why a Waterfront Property?
What is it about water? What internal human instinct instills the love of that life giving substance? The draw to water is visceral. Like the warm smell of a 3-week-old puppy, water comforts the human soul.
Our human urge to get on the water, look over the water, ride the water, fly over water, bathe in water, drink in the water, devour the water, relax in water, hold our babies in water, swim in water, make love in water, seems to speak of our ancestry and kinship with life.
We mark our own birth with the breaking water--that nine month ride in water, so gloriously harmonized, connecting the unborn and yet to be, with mother, the source. I suppose the water worship is justifiably poignant for those of us wise enough, well heeled enough to live by, or on the water.
Translating the transcendental water front property into business is not so esoteric. Here in the Catskills, we thrive on natural waterfronts of a diverse nature.
The Rio (pronounced rye-o), Toronto, Neversink, Pepacton Reservoirs, the Delaware and Mongaup rivers, Swinging Bridge, Tennanah, White, Kauneonga Lakes, and so much more, provide ample opportunity for those heeding the inner call to the water front.
Be it by salty sea or fresh water estuary, water commands a premium. The collection of qualities surrounding water front properties is mysterious yet completely understood by that inner personal compass. No exact definition can be rendered. It is a personal relationship.
The streams, rivulets, ephemerals of spring flow here. Your spirit reaches out to be renewed, refreshed, and re-vitalized. I’ll be here waiting at the water’s edge. Welcome home.
Why a Waterfront Property?
What is it about water? What internal human instinct instills the love of that life giving substance? The draw to water is visceral. Like the warm smell of a 3-week-old puppy, water comforts the human soul.
Our human urge to get on the water, look over the water, ride the water, fly over water, bathe in water, drink in the water, devour the water, relax in water, hold our babies in water, swim in water, make love in water, seems to speak of our ancestry and kinship with life.
We mark our own birth with the breaking water--that nine month ride in water, so gloriously harmonized, connecting the unborn and yet to be, with mother, the source. I suppose the water worship is justifiably poignant for those of us wise enough, well heeled enough to live by, or on the water.
Translating the transcendental water front property into business is not so esoteric. Here in the Catskills, we thrive on natural waterfronts of a diverse nature.
The Rio (pronounced rye-o), Toronto, Neversink, Pepacton Reservoirs, the Delaware and Mongaup rivers, Swinging Bridge, Tennanah, White, Kauneonga Lakes, and so much more, provide ample opportunity for those heeding the inner call to the water front.
Be it by salty sea or fresh water estuary, water commands a premium. The collection of qualities surrounding water front properties is mysterious yet completely understood by that inner personal compass. No exact definition can be rendered. It is a personal relationship.
The streams, rivulets, ephemerals of spring flow here. Your spirit reaches out to be renewed, refreshed, and re-vitalized. I’ll be here waiting at the water’s edge. Welcome home.
Monday, March 30, 2009
The Red Apple Rest, The Mountains, and Da City
The Red Apple Rest, The Mountains, and Da City
We baby boomers know the Mountains. We trekked here as children eager to beat sizzling sidewalks and wall to wall brick apartment houses. Mom, Dad, and grand parents packed what fit in the 56 Chevy and took off West to the Catskills. The trip took years. I was probably six.
When the family finally stopped for potty breaks and food, yep—you guessed it; we stood on line at the famous Red Apple Rest in Tuxedo, NY. Seemed like hundreds of people arrived at the Rest at exactly the same time. Was it really that crowded?
A carnival of smells and colors, The Rest was reflective of that tremendously diverse community everyone referred to as Da City. As in: “Where you from?” You’d say: “Da City.” Da city where you played stickball, pick up baseball games, and city park sprinklers made the Catskills a great escape. I hear the Four Season singing Sherrie right now.
Every kid from Da City knows about egg crèmes and lime rickeys and ya know something, the shopkeepers knew how to make em in the Catskill Mountains too. When your Dad turned off 17 to your final destination, you were ready to break the car door off and get into your bathing suit.
As a kid from Da City, I neva forgot Sullivan County. I married a local farm girl from the Beechwoods, raised my girls here, and still am a kid from Da City floating down the Delaware in cut offs and shades.
Have a memory? Make a comment. Meanwhile—if you want a piece of the Catskills, give me a call. We’ll reminisce and I’ll reintroduce you to the Catskills 4 Real.
Read About the Red Apple Rest:
http://www.recordonline.com/apps/pbcs.dll/article?AID=/20070208/NEWS/702080318/-1/COMM02
We baby boomers know the Mountains. We trekked here as children eager to beat sizzling sidewalks and wall to wall brick apartment houses. Mom, Dad, and grand parents packed what fit in the 56 Chevy and took off West to the Catskills. The trip took years. I was probably six.
When the family finally stopped for potty breaks and food, yep—you guessed it; we stood on line at the famous Red Apple Rest in Tuxedo, NY. Seemed like hundreds of people arrived at the Rest at exactly the same time. Was it really that crowded?
A carnival of smells and colors, The Rest was reflective of that tremendously diverse community everyone referred to as Da City. As in: “Where you from?” You’d say: “Da City.” Da city where you played stickball, pick up baseball games, and city park sprinklers made the Catskills a great escape. I hear the Four Season singing Sherrie right now.
Every kid from Da City knows about egg crèmes and lime rickeys and ya know something, the shopkeepers knew how to make em in the Catskill Mountains too. When your Dad turned off 17 to your final destination, you were ready to break the car door off and get into your bathing suit.
As a kid from Da City, I neva forgot Sullivan County. I married a local farm girl from the Beechwoods, raised my girls here, and still am a kid from Da City floating down the Delaware in cut offs and shades.
Have a memory? Make a comment. Meanwhile—if you want a piece of the Catskills, give me a call. We’ll reminisce and I’ll reintroduce you to the Catskills 4 Real.
Read About the Red Apple Rest:
http://www.recordonline.com/apps/pbcs.dll/article?AID=/20070208/NEWS/702080318/-1/COMM02
Thursday, March 26, 2009
Real Estate Is Cold Like the Weather Here in Sullivan County, NY
Real Estate Is Cold Like the Weather Here in Sullivan County, NY
Oh yes, we have sellers-- Sellers who own spectacular vistas, meadows, and mountaintops. But like the cold air temperatures, buyers have taken a chill and resisted the temptation to explore new territory here.
February was more electric with plenty of phone activity and inquiries. I actually was gaining confidence that Catskills Real Estate was warming up to a better market. Colleagues too were busy with the assorted details of our industry.
“Hey, can you tell me the taxes? “What’s going on with that Lake Front in Chapin Estates?” “How off is the Catskill's Property market really”? “Are the contractors buying parcels again? It was music to our ears in our Main Street Office.
We’ve got buyers, yes that is right. We’ve got plenty of sellers as well. Sounds good so far, but the reality of getting these two together has always been the meat of the matter. And—it’s getting more difficult to feed those coming to the table.
Some sellers here have an unrealistic idea of property value. Although this is somewhat typical of many sellers, times dictate serious re-evaluation for this group. Equally frustrating, some buyers have impractical pricing requirements even for today’s flat market. Many buyers are expecting implausible listing reductions.
Buyers and sellers are just too far apart right now. In some measure, both buyers and sellers are unwilling to make the required concessions or compromises to firm up a deal.
It’s my sense that the cold here may not just be in the air. It may also reside in unrealistic buyer and seller expectations.
John Kavaller
Oh yes, we have sellers-- Sellers who own spectacular vistas, meadows, and mountaintops. But like the cold air temperatures, buyers have taken a chill and resisted the temptation to explore new territory here.
February was more electric with plenty of phone activity and inquiries. I actually was gaining confidence that Catskills Real Estate was warming up to a better market. Colleagues too were busy with the assorted details of our industry.
“Hey, can you tell me the taxes? “What’s going on with that Lake Front in Chapin Estates?” “How off is the Catskill's Property market really”? “Are the contractors buying parcels again? It was music to our ears in our Main Street Office.
We’ve got buyers, yes that is right. We’ve got plenty of sellers as well. Sounds good so far, but the reality of getting these two together has always been the meat of the matter. And—it’s getting more difficult to feed those coming to the table.
Some sellers here have an unrealistic idea of property value. Although this is somewhat typical of many sellers, times dictate serious re-evaluation for this group. Equally frustrating, some buyers have impractical pricing requirements even for today’s flat market. Many buyers are expecting implausible listing reductions.
Buyers and sellers are just too far apart right now. In some measure, both buyers and sellers are unwilling to make the required concessions or compromises to firm up a deal.
It’s my sense that the cold here may not just be in the air. It may also reside in unrealistic buyer and seller expectations.
John Kavaller
Subscribe to:
Posts (Atom)