The Voice For Real Estate In Ulster County

So much to do and so little time...

2010-04-22T12:15:00.000-07:00

...to blog right now. Therefore I am taking a break. Have been for a while anyway. Houses are selling. Buyers are excited about being here in this our beautiful area. Two clients of mine just got themselves kayaks and are ready to enjoy the outdoors even more. I just renewed my Mohonk pass for the next year. There is plenty to do - new hiking trails to explore, waterfalls and swimming holes to visit and restaurants to discover.

More later. Until then,

enjoy,

Stefan Bolz

Miranda rights for home purchasers

2010-03-05T10:02:00.000-08:00

by Harris Safier

Perhaps it’s time to create Miranda rights for would-be home purchasers.
It is amazing that with internet access to virtually all homes for sale, would-be purchasers are naïve as they continue their knee jerk reflex to contact the listing agency if they have interest in a particular home. They seek the listing agent thinking she should know more than anyone about the home and be best able to answer specific questions.

That may well be true, but with a big “But.” It is vital to remember
the listing agent represents the interests of the seller and is not about to disclose any negatives to a prospect, unless obligated to do so by law or code. (if they are material facts) But so much in determining value for a purchaser is not based on material facts.

The listing agency is committed to getting the asking price of the seller, or the highest price they can for the home. And, though agents are required in most states to disclose their agency status at first substantive contact, there is no “Miranda” rights paragraph they are required to give to the prospective purchaser. I know from years of anecdotal reporting by buyer prospects, that many, if not most agents neglect to disclose who they are working for in an introductory email, or via a phone conversation or first meeting. So the buyer might be revealing more than they should.

How about giving real estate licensees a pocket card, like we give police officers, with Miranda rights printed on it, so that they can always be read to prospective buyers. I’d call them the Harris rights:
“I represent the interests of the seller, and you have the right to remain silent and refuse to answer my inquiries about your finances, your motivation level, and your cash on hand. You have the right to a personal buyer’s agent. If you think you cannot afford a buyer’s agent, you should know that the fee for same may be built into your transaction and paid for by the seller at closing. Should you choose to share information with the listing agency (me) about your interest, ability to finance or purchase the house, that information can and will be used against you in the negotiation process if you reveal them to me. You may make arrangements to be represented in a transaction.

Perhaps with Harris rights, more home-seekers would know why they need an agent who represents their interests, and that they may require their agent to create a comparative market analysis to help them determine fair market values in the local market, and to negotiation hard, on their behalf, in a buyer’s market like we have in most places today.

At www.bestplace2move.com a licensed concierge can discuss the issues of representation with registered site users and inform them about available buyer’s agents in the communities surrounding the city. Then the concierge can connect you with a top real estate professional who matches your wishes in skill sets, knowledge and communication style. Get what you deserve out of the transaction and have the professionals help you find the right home for sale at the right price in today’s market.

Find Your Real Estate Professional Match Now!

Harris L. Safier
CEO Licensed Real Estate Broker
Best Place 2 Move, Inc.
www.bestplace2move.com

Ulster County Stats 11-24-09 through 11-30-09

2009-12-01T04:48:00.000-08:00

There were 24 new accepted offers in Ulster County this week (of which 8 were Westwood Metes & Bounds listings). 9 of those listings were under $200,000 list prices, 9 were in the range of $201,000 to $399,000 list prices and 6 of them had a list price of $400,000 and up.

5 Tips to Buying a Home on Deadline

2009-11-24T10:43:00.000-08:00

This article gives tips on how the tax credit extension can help home buyers:

By Amy Hoak
RISMEDIA, November 24, 2009—(MCT)—House shopping usually slows down in the winter, as people put their home searches on hold to trim the tree, buy presents to put under it and avoid the chilly weather. This winter, however, might be different, thanks to the extended—and expanded—first-time home-buyer tax credit.

“We’re going to see far more interest in the fourth quarter than we generally do because of the tax credit,” said Heather Fernandez, vice president of Trulia.com, a real estate search engine. Traffic surged on the site on Nov. 5, the day Congress approved the credit extension, she said.

The new law extends the tax credit for first-time home buyers and opens it up to some existing homeowners as well: The credit is now 10% of the home price, up to $8,000 for first-time buyers and up to $6,500 for repeat buyers. All buyers must have a binding contract on a house in place on or before April 30, 2010. The sale must close on or before June 30. 2010.

To be considered a first-time home buyer, an individual must not have owned a home in the past three years. And to be eligible, existing homeowners need to have lived in the same principal residence for five consecutive years during the eight-year period that ends when the new home is purchased. The credit is only for principal residences.

Income limits have risen as well. According to the IRS, the home buyer tax credit now phases out for individuals with modified adjusted gross incomes between $125,000 and $145,000, and between $225,000 and $245,000 for people filing joint returns.

The inclusion of move-up buyers might inspire homeowners to take action and list their house if they’ve been putting it off, said Carolyn Warren, a Seattle, Wash.-based mortgage broker and banker and author of the book Homebuyers Beware. “If somebody loves their home, it’s not going to entice them to sell. If they’ve had it on the back of their minds and really would like to move up, it might push them into doing it sooner than later,” Warren said.

The credit isn’t expected to have as large of an effect on move-up buyers as it has on first-time buyers, according to the Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions. The maximum tax credit is about 4% of the average purchase price for first-time buyers, but about 2% of the average purchase price for move-up buyers.

“We estimate that the first-time home buyer tax credit will result in a 10% increase in home sales from March through November of 2009,” said Thomas Popik, research director for Campbell Surveys, in a news release. “We’d expect the effect of the proposed tax credit for current homeowners to be about half as large—from December until the tax credit expiration in the spring of next year, it might be 5% of 3 million transactions, or about 150,000 incremental home sales. Incremental sales to first-time home buyers could be an additional 300,000, for a total of 450,000 incremental sales due to the tax credit extension.”

Tips for buyers
Interested in buying a home and claiming the home-buyer tax credit? Below are five tips:

1. Don’t procrastinate. Start searching for a home now. Getting an early start will give you a better chance of finding the right house before the credit deadline. Before you start house hunting, get preapproved for a mortgage, said Eddie Fadel, a Miami-based mortgage banker, and do a realistic assessment of what you can afford. Buyers who have to sell an existing home should price it aggressively from the beginning to drum up interest and get a buyer as soon as possible.

2. Don’t count on another extension. The credit won’t be available forever, Fadel said. If you want to take advantage, be sure to make that spring deadline.

“This is a medication for the housing crisis. Once the patient—which is the housing market—cures, there will be no medication needed,” he said.

3. Mind the interest rates. Mortgage interest rates are low right now, but will likely rise next year. Higher rates will affect your monthly mortgage payments, thus the affordability of the house you are buying. Average rates on the 30-year fixed-rate mortgage have been hovering around 5%, but when the government stops buying large amounts of mortgage-backed securities, rates could rise.

4. Communicate with your lender. Throughout the process, make sure you’re communicating with your lender regularly; if there’s a piece of documentation you’re asked for, get it turned in as soon as possible, said Doug Heddings, a New York-based real estate agent with Charles Rutenberg Realty. Good communication is important in making sure the loan closes on time. And think twice before pursuing a short sale if you want to make the credit deadline. That’s where someone sells a home for less than what he or she owes on a mortgage, with permission of the lender. The process can be lengthy and unpredictable because the homeowner’s lender has to approve any deal, and can be complicated when there is a second mortgage associated with the property.

5. Don’t take shortcuts. Don’t forgo any of the steps you would normally take just to make the tax credit deadline. Make sure the house is a good fit for your needs and get a home inspection. Skipping steps could cost you in the long run.

(c) 2009, MarketWatch.com Inc.

Distributed by McClatchy-Tribune Information Services.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Tax Credit Extension

2009-11-16T08:20:00.000-08:00

Bruce Katz from Centenial Mortgage provided a good summary of the federal tax credit. Here it is:

Here is a complete explanation of the extended tax credit and the new guidelines for current homeowners!

Last week, President Barack Obama signed a law that extends through next spring a temporary tax credit of up to $8,000 for some first-time home buyers, which was due to expire Nov. 30. The law also adds a new tax credit of up to $6,500 for certain repeat home buyers. The package, which the government estimates will cost a total of $11 billion, is intended to help spur housing sales, a critical part of the economy.
Here are some answers to common questions about the new rules.
Q: What has stayed the same in the new law?
1) First-time home buyers still get a credit of as much as 10% of the purchase price, up to a maximum $8,000. "First-time" means people, including both partners of a married couple, who haven't owned a principal residence for three years before the purchase.
2) All taxpayers who claim a credit must use the home as a principal residence for the next three consecutive years.
3) The credits offer dollar-for-dollar reductions of tax and are refundable. This means that a taxpayer who doesn't pay enough tax to offset the credit can get a refund. For example, if you qualify for an $8,000 credit but only owe $5,000 in tax, you could receive a $3,000 check from the Internal Revenue Service.
4) Under the new law, as under the old, 2009 home buyers may claim the credit on either their 2008 or 2009 returns, and 2010 buyers may claim the credit on either their 2009 or 2010 returns.
5) Taxpayers do not qualify for a credit if they buy from a lineal ancestor or descendent, including parents or grandparents and children or grandchildren.
Q: What has changed?
Several important features took effect as of Nov. 6:
1) To take advantage of the tax credits, a buyer must have a contract in place before May 1, 2010, and the deal must close before July 1, 2010. No further extension is expected.
2) The price of the house is now capped. For purchases made after Nov. 6, no credit is available for any home costing more than $800,000.
3) There is now a tax credit for repeat buyers as well as for first-time buyers. Taxpayers who have lived in one residence for five consecutive years of the past eight can now qualify for a tax credit of as much as 10% of the purchase price, up to a maximum $6,500, of a new principal residence. The new home does not have to cost more than the old one.
4) Income limits for people who qualify for a tax credit are far more generous than under the previous law. For single filers, the credits now phase out between $125,000 and $145,000 of modified adjusted gross income; for married couples, the range is $225,000 to $245,000. For most people, modified adjusted gross income will be the same as adjusted gross income.
5) The new law contains anti-abuse measures designed to stem fraud, which became a problem with the previous home-buyer tax credit. Most buyers must be 18 or older, and no taxpayer may take a credit if he or she is claimed as a dependent on someone else's return. Taxpayers taking the credit will also have to furnish proof of purchase. According to Robert Dietz of the National Association of Home Builders, this will usually be a HUD-1 form.
6) People taking the tax credit, as under the old law, aren't allowed to buy a home from a lineal ancestor or descendent. The new law, applying to purchases made after Nov. 6, also says a person may not take a credit if the home is purchased from a spouse or the spouse's lineal relatives.
Q: If I bought a house last spring or summer, can I get a tax credit?
You qualify if you are a first-time buyer and meet the other requirements, but not if you are a repeat buyer. The new credit for repeat buyers applies only to purchases made after Nov. 6.
Q: What is the definition of "principal residence"?
If you own more than one home, your principal residence is usually the one where you spend most of your time. In determining residence the IRS may also consider where your family lives and your mailing address for bills and correspondence, among other factors.
Q: Can a principal residence be something besides a conventional house?
Yes. A principal residence may also be a condominium, co-op apartment, attached or semi-attached townhouse, or even—if it has eating, sleeping and toilet facilities—a boat, motor home or trailer. Manufactured homes qualify in some states.
Q: Does the person who claims the credit have to use the home as a principal residence?
Yes.
Q: If I buy a new home and live in it, do I also have to sell my old one in order to take advantage of the credit?
This is unclear. The law appears to allow repeat buyers to retain their old home, for which no tax credit was given, while claiming a credit for the new one. What is clear is that if you buy a new home using the credit, you must use it as your principal residence.
Q: How may the credits be allocated among two or more unmarried buyers?
This also is unclear. But if the IRS adopts the rules that applied to the previous tax credit, which are detailed in IRS Notice 2009-12, there is room for planning. The notice says that taxpayers may use "any reasonable manner" to allocate the credit. It even provides an example in which two unmarried buyers allocate the credit to the lower earner in order to qualify for it.
Q: I need the credit refund to help make the down payment. What can I do?
There's no rushing the IRS. But one option is to adjust your current withholding from your paychecks to reflect the fact that you will be taking the credit later. But be careful: If you don't make the purchase, then you may owe interest and penalties. Consult a tax adviser.
Q: Is it possible to qualify for a credit if I am building a home on a lot I already own?
Yes, according to the National Association of Home Builders. The purchase date is usually considered to be the date of first occupancy, so you would need to move in before July 1, 2010.
Q: May I take a credit if I am building a large addition to my home?
No; these credits apply only to the purchase of a home.
Q: Are there special rules for the military?
Yes. In general, members of the military and foreignservice and intelligence communities who are serving overseas on "official extended duty" for at least 90 days during 2009 and the first four months of 2010 have an extra year to take advantage of these credits. Consult a tax adviser who specializes in this area.
Q: Where can I get more information?
Go to federalhousingtaxcredit.com, a Web site sponsored by the National Association of Home Builders. You can also look for links from the IRS's home page, www.irs.gov, or search for Homebuyer Credit. Another option is to consult a professional tax adviser.

Courtesy of:
Bruce Katz, Pres.
Centennial Mortgage Corp.
800-972-7759 845-339-1341
Fax: 845-339-3310
Web: www.CMloans.com
E-mail: BKatz@ExperienceCentennial.com
Registered Mortgage Broker
NYS, CT, FL, Banking Depts.

The Rosendale Rail Trail

2009-04-26T15:04:00.000-07:00

Once in a while I take my dog to the rail trail which is basically a system of rail road beds without the tracks going between towns. There are three rail trails around here. One is the Wallkill Valley rail trail - a twelve mile stretch between New Paltz and Gardiner. The second one is basically between Kingston and Accord. The first part between Kingston and Hurley is actually paved and very easy to walk/bike on. Ideal for kids' first attempts on riding a bike. After a while, the paved part turns into a very straight path partly graveled, partly just compacted soil. My favorite one though is the part that connects New Paltz with Rosendale.

The trail starts in Rosandale on Mountain road just off Keator Road. There is a parking area from which you can start. This trail is very nice because of its very interesting terrain throughout the trail. There are rock outcroppings, creeks, meadows, woods and even bamboo growing on the side of the trial. You'll find all kinds of friendly folk on it - cyclists, dog walkers, runners, hikers and the occational horse with a rider.

The walk is very relaxing after a long work day or very early in the morning. The great thing about the rail trail is that it is just about level with very little incline or decline. When I walk, I go for about 30 minutes until I come to a creek and a small bridge crossing River Road Extension in Tillson. My dog can take a bath and drink in the creek there. She's happy about it. This is a perfect 1 hour walk in nature with very little sounds except birds and insects. Very nice.
Also worth mentioning is the bridge on the other side of the rail trail. Check it out. It's pretty high and you can only go half way across but you will see most of Rosendale from a very unique perspective. The Rondout Creek is exactly below you.

You can of course go further than to River Road but I never went for more than an hour on it. Just enough to relax and refocus. Any questions, email me or give me a call.

Woodstock, NY, State Forest Preserve Area

2009-03-28T13:07:00.000-07:00

There is a relatively unknown parcel of land, 138 acres to be exact, owned by New York State, and located off Route 28 between Kingston and Woodstock. The entrance is just before the Catskill Coffee Roasters on the right hand side (driving towards Woodstock). This parcel is part of the State Forest Preserve and lends itself to some great low key outdoor activities.

I was out on appointments in Woodstock this morning and had some time until my next one. I also had my dog with me and thought about a spot where I could let her run for a while. The parking area is right off Route 28 before the Coffee Roasters parking lot. After a short (literally not more than 5-7 minute) hike I arrived at the shore of a lake. There are several areas with paths leading to the water. I saw several people with fishing poles there.

I took the path around the lake and walked on it for about 10 minutes to get to the northern most point of the lake. My dog (a black lab) loves the water, so she had a fun time and I got some fresh air. There are a few picnic tables around and even a portable toilet. As far as I know, any motorized equipment (boats, ATV's, motorcycles, etc.) are NOT allowed. However, I'm pretty sure you can have a canoe there. The lake is probably about 20 acres in size.

This spot is great for a pit stop if you are exploring the area around Woodstock and Kingston and want to have a relaxed stroll down to the water. It is very quiet there and well worth it. There is a deli next door. You can even get some really good home made ravioli and pasta there as well.

Almost Heaven

2009-02-10T14:35:00.000-08:00

Welcome to your new home in the country: Just minutes outside of Stone Ridge and situated on beautiful Buck Road, your country home awaits your arrival. Enjoy peace and quiet in this light filled and spacious cottage style home featuring hardwood floors, brick fire place, hand hewn beams in living room and kitchen, wainscoted bath room, and a sun room ideal for a studio. The area is great for walking, running & biking on very pretty country roads. Property is surrounded by stone walls with plenty of privacy and room to play.

Improvements within the last five years: new roof, new windows, new insulation & sheetrock, new paint inside and out, new appliances (stove & microwave), new washer, new bath room, new water pressure tank. Owner is licensed real estate broker.

Specs: 2.20 acres, 2 bedrooms, 1 bath, 1080 sqft, offered at $249,900

The Mortgage Forgiveness Debt Relief Act

2008-12-02T06:07:00.000-08:00

The folling is an article from RISMEDIA:

Prior to December 2007, if a homeowner lost his house due to a bank foreclosure, and the bank forgave any difference between the price it was sold for and what was owed, the homeowner would owe additional income tax on that portion. Yes, it’s hard to believe, but true.

Let’s say the homeowner owed $300,000 on the mortgage, but the foreclosure sale only brought in $200,000. Then the bank forgave the $100,000 shortfall. The homeowner would have been liable for the income tax on the $100,000 debt forgiveness from the bank.

The IRS considered this money effectively paid to the homeowner, and it would be taxable in their top bracket.

Now, because of the unique stresses in the housing industry lately and on our whole economy, in December 2007, Congress stepped in to provide temporary relief in the form of forgiving this debt, but only for the 2007, 2008 and 2009 tax years. After that, the old rule applies again.

To be eligible for this tax relief, the mortgage must be for your principal residence. It does not apply to vacation, investment or other properties. And no more than $2 million of forgiven debt can be excluded from taxable income.

Home Equity Loans

Another very important detail in this temporary tax break is if part of the forgiven debt was a home equity loan and used for purposes other than to build, buy or substantially improve the property, that portion is still taxable. In other words, home equity loans used for vacations aren’t included.

Short Sales

Now, what happens in a short sale? In brief, this can occur when a borrower is behind on the mortgage payments and the lender agrees he can sell his house for less than what is owed on the mortgage. But all proceeds must be turned over to the bank.

The portion of the mortgage the bank forgives, plus any commission expenses or other selling costs, are taxable income if this debt is canceled. Yes, even the commission and selling expenses count.

A homeowner can now receive a $250,000 (single) and $500,000 (married) capital gain exclusion on the sale of their primary residence.

While $7,500 capital gains tax is surely a lot less than the $100,000 canceled by the lender, the homeowner may not think of this or be aware it could happen down the road, perhaps just prior to retirement. And capital gains taxes are always subject to change.

Mortgage Insurance Affected

It is important to also note this act extended mortgage insurance as an itemized deduction all the way through 2010. Yes, there’s a restriction. The mortgage contract has to be entered into between December 31, 2006 and January 1, 2011.

Chris Kaucnik is marketing director for Home Warranty of America. For more information, please visit www.hwahomewarranty.com. Michael J. Greenen is a certified public accountant and certified financial planner located outside of Chicago, Illinois.

Rocking Chair Front Porch Farmhouse...

2008-11-21T18:13:00.000-08:00

...with contemporary features, perfect as your weekend home or full time residence. The open floor plan – the fire place is visible from the living room, dining area, gourmet kitchen and the four-season sun room – invites you to entertain guests or just spend a quiet day reading or relaxing. Add to that the heated in-ground pool, the fully equipped fitness center, five bed rooms (two of them on the main floor), a separate three bay garage/carriage house with the upstairs ready to be finished into guest quarters, and a state of the art hydro-air heating and cooling system, and you will never want to leave your new home in the country. Only eight minutes from the I-87 Kingston exit, enjoy your privacy without being remote, with short distances to Stone Ridge for antiquing and having a nice Sunday morning brunch; to the Mohonk Preserve for hiking, biking and climbing; and to Woodstock for concerts, plays and shopping. Offered at $869,900. Click the picture for details.

Westwood Metes and Bounds Realty announces employee awards

2008-11-21T15:33:00.000-08:00

The following is an article from the Poughkeepsie Journal:
Realty company announces employee awards
November 21, 2008
Buzz up! Westwood Metes & Bounds Realty in Stone Ridge announced employee awards for September.
Top-selling associates were Heidi Maloney, Stefan Bolz, Dorothea Marcus, Patty Curry, Laurie Ylvisaker and Cheryl Paff.
Maloney, a Town of Ulster resident, became active in real estate in 2000, after owning a business in Woodstock.
Bolz grew up in southern Germany and settled in the foothills of the Catskill Mountains. He is a broker associate, certified residential specialist and accredited buyer’s representative.
Marcus, of New Paltz, specializes in New York City transplants. Her background is in marketing and public relations.
Curry has lived in the Hudson Valley since 1979. She is also a writer, an artist and a teacher.
Ylvisaker has had careers in the music business and marketing. She has practiced real estate in Florida, California and New York.
Paff was born and raised in the Hudson Valley then headed to New York City where she operated a restaurant. Later, she moved to Woodstock and began her real estate career.
To read the article, go to
http://www.poughkeepsiejournal.com/apps/pbcs.dll/article?AID=200881120020

Come By The Hills To The Land...

2008-11-20T15:42:00.000-08:00

No words necessary for this compilation of images taken in Ulster County throughout the year. Enjoy...

The Time Is Now!

2008-11-13T17:37:00.000-08:00

I just came back from a Realtor conference - THE Realtor conference - held once a year, this time in Orlando, Florida, where thousands of Realtors came together to network, to educate themselves and to exchange experiences. There were hundreds of classes to choose from, from Windows Vista to working with international buyers, from filling out transactions electronically to 'no excuse management'. There were inspired speakers like Lance Armstrong, a concert with the still really cool Cool & The Gang, and many other opportunities to recharge, relax and regroup after a tumultuous year in the real estate market.

There were two speakers in particular I enjoyed very much. First one was business coach and author of many books, Richard Flint. His comment during one of his sessions that 'you are exactly where you want to be in your life', had me thinking about my own life and career. The second speaker was David Bach who's book 'The Automatic Millionaire Homeowner' got him into Oprah Winfreys show and onto the podium of many conferences. He basically summarized what I had heard many times over throughout the four-day event: The time between now and the next 18 months provides the best opportunity in decades to invest in real estate and to make money. Nobody knows if and when the bottom is reached even though “Reports appear to be pointing to a bottom in the housing problem; in fact, maybe the tiniest beginnings of a recovery. The reality is a possible upturn in the housing trend, and at the very least we are getting a bottom” (Lawrence Kudlow,host of CNBC’s Kudlow & Company).

As discussed in a previous blog, the problem is, we might know that a bottom has been reached when it is already on the upswing. However, this is the time - according to many, including Suze Orman and Mrs. Corcoran - this, right now, is the time to buy real estate. Why? Because there is inventory, because there is motivation from sellers, because there are low interest rates and because there is a depression in the market. There was a question being asked at some point. The question was: "Would you rather buy during market euphoria or during market depression?" 2004 was the year of market euphoria. That's when everyone bought and that's when the prices where the highest. Now when prices came down significantly, when they are about to go back up, NOW is, from an investment standpoint, the perfect time to buy. Because nobody else is buying.

In closing I am thinking about the words of Warren Buffett who said something to the effect of "when everyone is paniced, I buy and when everyone cheers, I sell."

How do we know when the market has reached its bottom?

2008-11-01T07:10:00.000-07:00

Not more than two years ago, first time home buyers in this area found themselves in a weak position. Prices were up, inventory was low and even though FHA and other first time home buyer programs were available, there just wasn't enough suitable housing. $180,000 got you a 3 (tiny) bed room, 1100 sqft home that needed a good amount of work. Now, for $180,000 you get a beautiful 3 br brick ranch with hardwood floors, finished basement and a nice yard in a good loaction - ideal for a first time home buyer. Two years ago, sellers were still in a mind set that was very common 4 years ago when the market was at its peak and buyers had to struggle with getting anything off the list price. Now, sellers are much more willing to negotiate and are way more willing to give credit for repairs or do repairs before the closing.

Here is the question, the question, most first time home buyers and buyers in general are asking right now:

How do we know? How do we know the exact moment in time when the market has reached its bottom?

The answer is not very satisfacory, I'm afraid. The voices in the media that the market has in fact bottomed out are getting a bit more prevalent. However, the problem is, the moment we know for sure that the market has reached its bottom is when it has already passed. We will know that we had hit the bottom when it is already going back up. It's a dilemma. For at that moment, more buyers will start looking, sellers will become more confident again and prices will increase. Inventory will go down and we're back where we were two years ago.

In my opinion, this time, right now, is the perfect time to make a deal, to get a nice house for a price that buyers weren't able to get in years and probably won't be able to get for years to come.

The Beauty of Ulster County

2008-10-29T14:49:00.000-07:00

Sometimes words are insufficient to describe a place or a moment in time. This was, I thought, such a moment. The pictures were taken on Route 213 in Stone Ridge some time around 5:15PM today. I only had my iPhone with me but thought that the images came out surprisingly well. Enjoy!

There are still buyers out there!

2008-10-29T10:57:00.000-07:00

Not for nothing but just as I thought I might have to think of another way to pay for my mortgage (besides robbing a bank or writing the all-american novel), I suddenly had four appointments with four different buyers over the weekend. There was a builder client from Brooklyn who was looking for a parcel of land to build on. Then I showed a really nice starter home to a young teacher in Kingston. Third was a very nice couple from Manhattan who worked in the financial sector looking for a weekend getaway. And lastly, a couple from Long Island who wanted to get a weekend house in Ulster County that they would convert into a full time residence after they had retired. The price range I showed was from around $150,000 for the land up to $1,000,000 for the weekend home. Three of the parties are seriously thinking about making an offer on one of the properties we have seen.

I get the sense that things are calming down somewhat from the shock of the last months. Ulster County is still an amazing area to live in. The recreational value is exceptional (see other posts in my blog). The towns are quaint with lots of charm and culturally vitality. Despite the declining real estate market in general, Ulster County has managed to stay somewhat stable, especially when you compare it to Orange, Dutchess or Sullivan County and the rest of the country. In my humble opinion, this is still a very good area to not only invest in but spend your weekends away from it all.

Cottage For Rent

2008-10-21T04:33:00.000-07:00

My good friend Jenny has a beautiful cottage for rent. Here is Jenny's description of it:
Sweet, airy, spacious one bedroom. French doors open to the sunrise and a rolling field that stretches down to the river that borders the property!
Hard wood floors, exposed hand hewn beams (the building was originally constructed in 1860), open kitchen, lots of light, clawfoot tub with shower, outdoor shower (truly divine!), cable (you pay but it's hooked up), dishwasher, peace.
The 26 +acre property has views on every side, as we are located right under the Shawangunk Mountains ("The Gunks"), and rolling fields lay beyond. Across the road (beneath the mountain) is a gorgeous horse farm (to paint?) and we have 2 horses on the property that are available to experienced riders (or one who is willing to take lessons.) In-ground pool, huge trampoline, basketball, bikes, a vegetable garden to help with if willing (that is to toil AND enjoy!). Come PLAY!! There's also a pond and a stream. We plan on raising bees in the spring, and would be especially open to anyone interested in growing (fruit trees? veggies? herbs? the healing, legal kind of course!) on this fertile land. And the river... Aaaaaah. (That's me purring at the thought.) Let's just say, dip our canoe in, and fall out of time and place.
I am trying to taunt here, (not boast) because the cottage and the property are truly special-- either for someone just wanting to escape for weekends here or wanting to LIVE.
$1100 a month includes electricity, water, and there's enough fuel in the tank already to last a while (and the system's efficient).
And for the NYC folks-- we are 1 1/2 hours from New York in Gardiner, which is just outside of New Paltz. Hiking, rock climbing, waterfalls, rivers, apple picking, 40,ooo or so acres of State land to wander nearby... How's my taunting working? I truly love this place though.
I would be open to friends switching weekends too and sharing the cottage.

If you have any questions, please call or email Jenny directly at (mobile) 917-776-5371 or (email) Jennywonderling@hotmail.com

The Buyer's Guide Part 2

2008-10-19T13:51:00.000-07:00

Yeah!!!!! You found it! You found the home you love, you can see yourself spending time there, you are excited over the prospect of making an offer. At that point I will prepare a comparative market analysis of similar homes in the area that have sold within the last 6 months to help you come up with an offer price.

Once I have presented your offer (I can present it either to the other agent or directly to the seller) we'll start negotiating. I won't get into the art and science of negotiating at this point but let's just say you and the seller eventually agree on a price and terms you can both live with. Congratulations! Now we can take the next steps.

From here you can schedule the inspections, get an attorney and start your mortgage application process. (If you want, I will provide you with names and phone numbers of inspectors, lawyers and banks.)

At the day of the inspection we will both be there with the inspector. He will go over everything with you so that you not only find out any issues with the house but also have in your hands an extensive document for maintenance and future reference.

Once you have received the inspection report we can go over it together to determine if we need to re-negotiate on any items that were red-flagged during the inspection.

Next you'll sign contracts with your attorney and give him your check with the down payment. The contracts are drawn up by the seller's attorney, then sent to your attorney for review. Once you have signed them, they go back to the seller's attorney for the seller's signature.

At this point, your attorney will order the title search to see if there are any leans against the property, etc. Meanwhile you can send the contracts to your bank so they can finalize their underwriting process.

After that, we basically wait for a closing date. A week before the closing, you will get all the information you need - anything from the electric and oil company to cable/internet/phone accounts and phone numbers so you can set up the accounts in your name for the day of closing.

At the day of the closing, we will have a final walk through to determine whether or not all the appliances still work, to check the heat, water, etc. Basically we are making sure that everything is still in working order and
ready for you to move in. At the closing, you'll sign all the paperwork for the bank and the transfer of the deed, etc. Your attorney will go over all the numbers and papers with you so you have a good handle on things.

Ok, happy home owner that you are, you can now move in or start doing whatever it is you want to do with YOUR HOUSE!!!! All I usually ask afterwards is to be invited regularly to barbecues, family gatherings, and to be included in your will. :-)

This description about the process was obviously abbreviated for simplicity but you can rest assured that I have done this many times over and will help and guide you through it every step of the way. After all, buying a home should be fun as well as successful in the end.

The Buyer's Guide... Part I

2008-10-18T05:44:00.000-07:00

...to a successful transaction - From finding an agent to the closing and beyond. I did my best to outline the steps involved in the process. If you have any questions, please do not hesitate to call or write me at any time.

1. Find an agent you like and trust
2. Identify your wants and needs
3. Get pre-approved by a bank and
4. Identify homes that fit your criteria
5. Spend a nice day with your agent looking at homes
6. Find the one that's just right for you
7. Establish an offering price based on your budget and your agent's comparative market analysis.
8. Negotiate until you agree on price and terms
9. Schedule inspections and apply for a mortgage (if applicable)
10. You and your agent go to the inspection
11. Your agent will negotiate issues that arose during the inspection with the seller
12. Sign contracts with your attorney
13. Receive your mortgage commitment
14. Final walk through and closing
15. Move in
16. Enjoy
17. Invite your agent for a barbecue

Ok. First things first. The best way to start the process, in my opinion, is to find the right agent. Of course you will probably search online for homes by yourself but you definitely need someone who knows the area, the market, the values and the homes and who can tell you whether or not the houses you saw online might be too close to a main road or are not as private as you thought they'd be or they may be just right. Let's just say, for the sake of this article, that this person is me.

First thing we'll do is establish a list of your wants and needs. From our communications via email, phone or in person I will get a very good sense of that. Questions like the kind of house you'd love, the area and location, features, size and style are important. Another way to approach your wants and needs is through identifying your life style. What is it you would like to do around here? Are you into climbing, hiking, biking, do you want to be close to a village or prefer peace and quiet. Do you just need to be close to the mountains, water, a public park, etc. Anything you can think of we will work with to end up with a picture of what it is you want and/or need.

After that I will begin my search and once I have identified a few homes that reflect the criteria we have established, we'll make an appointment for you to come up here and take a look at them. You probably will find a couple of houses online as well and we can discuss them and throw them into the mix.

Next, we'll take a few hours and look at the houses we have identified. This is a very important part of our collaboration for this gives me the opportunity to gather your reactions on some of the houses. It also helps you get a sense for the market, the homes available and whether or not your picture of your perfect house fits in with your budget. Usually, we don't find your dream house the first day. Actually, if it happens, fine, but it is, in my experience, better if it doesn't. I'd like for you to get a sense for the market and the values, so that once you have found the home you like, you have a better sense for what you are buying.

Part two to follow shortly.

Kayaking on the Rondout Creek

2008-10-16T04:47:00.000-07:00

Some time in late August - my son and his girlfriend were here from Germany - a good friend and former client of mine offered to give us his kayaks (and his truck to transport them) to try them out. We accepted very enthusiastically, of course. In my 12 years in this area, this was something I hadn't done yet.

We drove down to the boat landing area on Creeklocks Road in Rosendale (between Rosendale and Kingston). The Creek around there is more like a lake. Almost no current. Perfect for leizure kayaking and perfect for beginners like us. We went upstream for about 2 hours. What was interesting for me were all the houses I now saw from a completely different angle. I recognized some of them from showings and sales over time but this gave me a unique oportunity to see them from a different viewpoint. Some of them had decks overlooking the water. Most of them had kayaks or canoes lying on their lawn ready to be used. I couldn't help but think in what great an area we live in. Such an amazing community to live in or have a second home in.

Coming up from Manhattan on a Friday night, escaping the traffic and the noise to wake up on a Saturday morning to the sound of a creek isn't such a bad way to relax. If deciding whether or not you want to read the newspaper now or after you take a swim becomes your major concern... you have arrived.

Back to the kayaking trip: after about 1.5 hours of leasurly kayaking we reached several large boulders sticking out of the creek. We decided to make this our half way point and went on land to sit on one of the boulder and have a snack. The boulders showed signes of when, in the spring, the water would get really high and the boulders were for about a day or so, almost invisible.

We sat peacefully watching the water for a while until it was time to go back (I had to get back at a certain time to meet with clients later on). The way we came was up stream and even though there was almost no current, we felt that it was just a tiny bit easier to get back. What a great way to spend an afternoon, I thought. My son and his girlfriend had a great time, of course. Thanks, Mike, for lending us your kayaks.

Here is a link to the Ulster County Tourism Site. You will get info on where to rent/buy kayaks and canoes. Also, there are guided tours on the Hudson River for kayaking as well. Have fun!!!!

http://www.ulstertourism.info/todo/boating.html#rentals

Lemon Squeeze

2008-10-07T03:23:00.000-07:00

Sometimes I think a blog should just be one or two pictures and no text because the pictures say it all. No explanation neccessary. Of course, the whole point is to find out how to get to a spot with such amazing views and vistas in the first place. The pictures were taken on a hike/climb I did together with some friends of mine last Saturday. It's called the Lemon Squeeze. And trust me, there is one point in the last 2 minutes of the 2 hour hike, when you realize why it is called that.

We parked our car at the end of Pine Lane (off Butterville Road) on the east or New Paltz side of Mohonk. A 20 minute hike got us to Duck Pond. This time of year, the Fall colors are reflected in the pond and it is easy to just sit there for half hour looking at the quiet lake. This time though, we only stayed for a minute or so until we moved on, catching Duck Pond Trail, crossing Oakwood Drive and up to Forest Drive. We took a 5 minute break at that point while talking to a very nice Mohonk Preserve Volunteer who checked our passes and gave us a great map of all the carriage roads and paths around (for more info, go to www.Mohonk.com).

Crossing Forest Road we went up Birchen Trail which brought us to the Staircliff Path. From here you definitely need your arms to climb over some rocks. Nothing dangerous and we had our friends' neffews with us who did really well - with some supervision (age 7 and 10). At some point we got to the Crevice. From there it went up until we reached the point where the picture of the small bridge was taken. From there we continued up until we reached several ladders leading to the top of the ledge just below the Mohonk Tower. The ladders are safe but very steep and the last few meters are very tight. We had to take off our back packs and sqeeze through the rocks to get to the top.

But, wow, was it worth it. The views were spectacular. The stones were warm from the sun so we rested there for a while, watching a few more people squeeze through the last section of the tour. After that, we had another 15 minute hike with one more climb to get to the Tower. There is a great picnic area with tables and benches or you can just sit on one of the many rock outcroppings there. The Tower is open and of course we made our way all the way up there. This is where the second picture was taken. Way below are my friends, a bit further is Lake Mohonk and the Mohonk Mountain House and in the distance, due West, there is Accord and High Falls and the Catskills in the back.

Our way back from the Tower went by the Mohonk Mountain House and around Lake Mohonk to hook back up with Duck Pond Trail. All in all the hike took us about six hours, including the drive from Stone Ridge to Duck Pond parking area and back home. A great way to spend a Saturday. We could have stayed longer, especially because there is the option to rent a row boat and go out on the lake at Mohonk. But we decided to keep this for another day.

Because the first stop where you could buy something is at the Mohonk Mountain House I would recommend bringing food and water. With regard to sites and views and the variety of the scenery, hiking won't get any better than that around here. Have fun!!!

ULSTER COUNTY REAL ESTATE TODAY

2008-08-26T10:38:00.000-07:00

(The following is a slightly changed newsletter our company - Westwood Metes & Bounds Realty - published in August 08. If you have any questions please do not hesitate to call or write me at any time)

No doubt you've been hearing in the national news about parts of the country where the bottom seems to be falling out of the real estate market with foreclosures and downward-spiraling values. You may even have friends or family who now owe more on a home than it's worth. Our clients have been asking “what is the state of the real estate market in Ulster County?” Sellers want to know, should they sell; buyers want to know, should they buy.

Traditionally, summertime activities reduce the number of real estate showings, but this summer there are many serious buyers who are taking advantage of Ulster County’s large real estate inventory which hit an all-time high this spring. We should have a better indication of where our market is headed based on our analysis of the number of sales in the fall season.

Nationally, it is expected that it will take at least another year to recover from the serious impact that the sub-prime mortgage crisis has had on the real estate market. The over supply of inventory in the country will take time to be absorbed. Fortunately, Ulster County is an exception to the national trend because we have had no major new construction in past years. In addition, we benefit from our strong ties to the still booming New York City market.
• Ulster County has a conservative outlook on development of raw land, with a strong movement to protect open spaces. We did not see the type of speculative development that occurred in the hardest hit parts of the U.S.
• We benefit from our strong ties to the healthy New York City market. This proximity to NYC creates high demand. More potential buyers learn about the desirability of our communities as they discover the Hudson Valley region through the Internet.

• The finite supply of buildable raw land will continue to increase the demand for real estate here, despite the national malaise which exists elsewhere. Location! Location! Location! Real estate markets are made locally and Ulster Rocks!

Although it appears that many potential buyers have been postponing their purchases while they gauge the market, we expect that they will soon come to realize that Ulster County is not experiencing a typical “down market.” If mortgage rates increase and demand causes home prices to edge up, buyers will become more motivated. Savvy buyers are making their moves to take advantage of the opportunities. Recently there have been more sales in the upper high-end price ranges than ever before.

Buyers are now out and about in respectable numbers and they have many houses from which to choose. Buyer leverage in negotiations and substantial reductions of asking prices has made it a great time to be a buyer. Increased inventory has made The Law of Supply and Demand work in favor of buyers and now is the time to capitalize on what is a Classic Buyer’s Market.

To put it in perspective, here are MLS of U.C. residential sale statistics:

In 2006 the median selling price was $247,000
In 2007 the median selling price was $250,000
In 2008 through August 25 the median selling price is $245,000

There are 2143 homes on the market as of August 25th with a median list price of $289,000. The slight decline in median selling price this year from 2007 shows the relative strength of the Ulster County real estate market. With historically strong fall sales, that decline may end.

Beautiful 1860's Farmhouse

2008-08-26T05:07:00.000-07:00

Lovingly and completely renovated 1860s, colonial farmhouse on 2 park-like acres in hidden historic Rosendale hamlet of Bloomington. 15 mins to everything: New Paltz (I-87, Exit 18), Kingston, Woodstock, Stone Ridge, High Falls, Mohonk Preserve, world-class fishing, rapids, kayaking, hiking, antiquing, etc. 30 mins to ski slopes and Newburgh Int’l Airport. 4 block walk to Trailway’s NYC bus stop (Taylor St., Bloomington)

2+ BR, 2 FB, open plan and sunlit: LR, cathedral ceilinged K/DR/year round sun room. Large cathedral ceilinged master suite w/ terrazzo tiled glassed-in rain-head shower, nursery, dressing room, storage loft, walk-in closet. Original wood floors. Full-spectrum paint used throughout. New roof, new appliances, electric, plumbing, heating, hot water, windows, bathrooms, septic, etc.

2 story barn w/ new foundation and 100 amp electric, could be studio, guest house, office space, rental. 4 season writer’s/guest cottage/Yoga & Meditation room, detached 1 car garage. Property landscaped for privacy: 1.5 acres fenced in and bordered with hemlock hedges, cedar fence, mature pines, forsythia, rare black walnut trees, flowering vines and lilacs.

Quiet, quaint, dead-end road and safe neighborhood afford privacy w/out isolation. Mix of families, professionals, weekenders, retirees, artists. Rare find for weekenders or full-timers. Offered at $369,000.

Overlook Mountain

2008-08-08T04:36:00.001-07:00

My son and his girlfriend were visiting from Germany and one day we decided to hike up Overlook Mountain in Woodstock. The hike is known for its teasers of the plateau being 'just around the next bend in the road'. There are about 10 of them. Ten teasers I mean. And even though we knew about them, it didn't stop us from thinking several times, "Oh, its coming up just around the next bend".

We parked the car across from the Buddhist monestary on Ohayo Mountain Road. The trail starts right at the parking lot. It is shaled and very easy to walk on. The information we found online mentioned a 3 hour round trip hike. We reached the top after about an hour and 15 minutes of steady and sometimes steep incline. The upper plateau has a few benches and picnic tables to sit at, together with a 60 foot high 'fire tower' - a steel tower with stairs leading almost all the way up. The view from the plateau is obstructed, at least in the summer, by bushes and small trees. Once we were two flights up the stairs, however, a magnificent vista awaited us.

We saw the Catskill mountains right in front of us to the west. The Hudson River lay like a large snake, gleaming in the sun in the valley to the east. The clouds cast dark shadows onto the hills below. This view is definitely worth everyone of the teasers on the way up.

Home is where the heart is...

2008-06-14T20:55:00.001-07:00

Imagine yourself living here: A beautiful 1880's eyebrow colonial farmhouse nestled amidst 2 private acres with boat pond, stream, and views of Bonticou Craig. Walk into Mohonk Preserve or bike into New Paltz. Count the stars at night while listening to the stream from your bedroom window. Home features 5 bedrooms, 3 baths, $3,000 sqft, brick fireplace in living room, stainless steel appliances, hard wood floors, blue stone patio, 2-Car garage. Offered at $725,000.

Real Estate Stats for Marbletown, Town of Rochester & Olive

2008-06-12T11:00:00.000-07:00

Currently there are 267 listings active in the Towns of Marbletown, Olive and Rochester. In the range under $225,000, there are 58 active listings from which 10 have accepted offers. From $226,000 to $375,000, we have 96 listings active. 14 of them have accepted offers. In the range from $376,000 to $675,000 there are 75 listings currently on the market. 9 of them have accepted offers. Between $676,000 and $1,000,000 there are 25 active listings, none of which have accepted offers. Same with properties above $1,000,000. There are 13 active ones and none have accepted offers.

As for the sold properties, since January 1st, 2008: $0 to $225,000 = 8 solds; $226,000 to $375,000 = 25 solds; $376,000 to $675,000 = 10 solds; $676,000 to $1,000,000 = 2 solds; $1001,000 and above = 3 solds.

It's not really about owning a home...

2008-05-24T06:18:00.000-07:00

Yes, on paper you are buying a structure on a piece of land - a house with a certain number of bedrooms, bathrooms, maybe a fire place and a screened in porch. But what is it that you are really buying? The structure itself isn't that valuable. Isn't it quality of life you are purchasing when you are thinking of buying a home up here? Isn't it waking up on a Saturday morning to hear nothing except the birds or the sound of the stream in the back of your property? Or sitting on the porch steps with a cup of coffee, breathing in the smell of pine needles or the flowers in your garden? Or simply lying in the hammock and reading a good book or having a barbeque with friends? I have a client who just purchased a home up here a few months ago. He texted me the other day. Something like, "Stefan: Woke up in the country - Life is good. Thanks!" That is the main reason I love my job. I am not selling houses. I provide opportunities to increase somebody's quality of life. I'm not a dentist or a doctor or a lawyer or a teacher. But I know what my buyers want. And it is a large and exciting part of my job to try to bring it within their reach.

Private Stone Ridge Contemporary

2008-04-21T11:26:00.000-07:00

A BEAUTIFUL DRIVE THROUGH THE COUNTRY SIDE, JUST A FEW MINUTES FROM THE CENTER OF STONE RIDGE, LETS YOU REMEMBER WHY YOU CAME HERE IN THE FIRST PLACE. A LONG DRIVE WAY LEADS TO THIS PRIVATE & SPACIOUS CONTEMPORARY AMIDST 6 PARKLIKE ACRES. OPEN, SUNNY AND SIMPLY IDEAL FOR FAMILY GATHERINGS, VISITING FRIENDS OR QUIET SATURDAY MORNINGS. ENJOY THE PEACEFUL SETTING, THE 2 FIREPLACES, THE LARGE WINDOWS AND COMFORTABLE SURROUNDINGS. BIKE, WALK OR RUN ON BEAUTIFUL AND QUIET COUNTRY ROADS PASSING PONDS, STREAMS AND CATSKILL MOUNTAIN VIEWS. THIS IS LIFE IN THE COUNTRY AS IT SHOULD BE. 3 BR/2.5 BATH, 2600 SQFT. OFFERED AT $535,000 http://www.realestateshows.com/flyer.php?id=193422&traffic=0

Shawungunk Fire

2008-04-20T12:20:00.001-07:00

Excerpt from a 'Daily Freeman' article:

Two days after a 30-acre brush fire in Minnewaska state park was reported under control, the flames have spread to scorch 3,000 acres.
The 20,000-acre park and part of U.S. Route 44/state Route 55 have remained closed, and over 245 personnel from various state and local agencies were on the scene Saturday, trying to beat back the blaze.

http://www.zwire.com/site/news.cfm?newsid=19500830&BRD=1769&PAG=461&dept_id=74969&rfi=6

I was driving on Stonykill Road in Accord on Friday, having watched the smoke cloud since the day before from a distance. The site was staggering if not surreal. I could see the flames above the trees. I thought, "This can't happen here! We're in Ulster County!! THIS ISN'T CALIFORNIA!!! We don't have any mud slides, there are no earth quakes and there definitely aren't any brush fires around here! I still had snow in my back yard two weeks ago, for God's sake!! As I continued my drive along the road I saw people standing in their yard talking to their neighbors and to each other. There was no urgency, no concern at all. As if it was the most normal thing around. "Oh, yeah, it's just our annual brush fire. No problem." When I came to the intersection of 44/55 I wanted to scream at the cop: "Where are the helicopters and the airplaines??? And where the hell is the NATIONAL GUARD!!!" Maybe this was a bit overly dramatic on my part. I admit it. I just don't trust people who say: "Everything is under control!" It just doesn't sound right sometimes. But I do remember feeling strange that part of my beloved Minnewaska State park fell prey to the flames.

Anyway, the Freeman article has much more information than I would be able to come up with. Next time you're up here, drive on 44/55 from New Paltz towards Kerhonkson and you'll probably see some blackened soil along side the road. You will realize though that this did not take away any of the magnificent beauty of this region whatsoever...

Country Comforts...

2008-03-22T07:56:00.000-07:00

... await you only 7 minutes from the center of Stone Ridge and located on the upper part of beautiful Buck Road. Move right into this light filled and spacious home featuring hardwood floors, beamed ceilings in kitchen and living room, sun-room, wain-scotted bath room, fire place and more. This is the ideal weekend home or full time residence. Close to the Ashokan Reservoir and perfect for walking, running & biking on very pretty country roads. Property is surrounded by stone walls with plenty of privacy and room to play. Offered at $274,900.

Flooding on Springtown Road, New Paltz

2008-03-06T04:29:00.001-08:00

As of THURSDAY morning, 5:05 am, Route 299 is closed on the flats. Springtown Rd is not accessable to buses to River Rd. Some buses must re-route through Gardiner...

This announcement had been made by the New Paltz School District this morning. Once a year, usually towards the end of winter, Springtown Road gets flooded out. The flood extends into the Flats where Route 299 meets Springtown road. When this happens, traffic is being re-routed sometimes as far as Gardiner.

When I drove through the area yesterday, I saw canoes next to houses, people were packing things into their cars, horses were being loaded onto trailers. A policemen commented that 'this one could be one of the worse floods ever'. For a few hours it looked like parts of Springtown road was actually being evacuated. Later on I found out that people were able to stay in their homes.

This 'perfect storm' usually happens when several conditions are in place: First, the ground is still frozen. That is normally the case this time of year. Second, the temperature has to be in the mid to high thirties. Third, it has to RAIN. It's all in the temperature. If it's cold, there is no problem because it just snows. If the grounds are unfrozen, the soil can usually take the water. But if the ground is frozen and the temperature is high enough that snow turns into rain the flat areas fill with water.

Also, the 'Flats' around Route 299 and Springtown Road are the lowest point of the area. The village of New Paltz is on a hill, Mohonk Mountain is on the other side. All the water run off collects in the Flats. The water will subside in a few days and life will get back to normal again.

Farmhouse on 125 Magical Acres

2008-02-22T15:12:00.000-08:00

THIS 1820 FARMHOUSE IS THE ENTRY TO OVER 125 SPECTACULAR ACRES OF MEADOWLANDS & WOODS. THE PERFECT PLACE TO BUILD A VERY SPECIAL HOME WITH AMAZING CATSKILL VIEWS. CURRENTLY A WORKING FARM, THIS IS ONE OF THE FEW LARGE PARCELS LEFT IN ULSTER COUNTY. CLOSE TO KINGSTON, NEW PALTZ, WOODSTOCK AND THE NYS THRUWAY, THIS IS YOUR CHANCE TO PRESERVE A BEAUTIFUL PART OF HISTORY & BUILD YOUR DREAM HOME. OFFERED AT $1,275,000.

Possibilities...

2008-02-05T18:04:00.000-08:00

75 degrees Fahrenheit, a warm, westerly wind from the Catskill Mountains; just enough to let you cool you off and----- ...ok, fine. I know this isn't exactly the right time of year to write about summer hikes to Bonticou Craig at the Mohonk Preserve. But I just came across this picture, taken by Amy Mosbacher, a friend and colleague of mine, who shot this during one of her hikes up there last summer.

So, from the ice rain pouring down on slippery roads, from winter advisories and school delays, from leafless trees and frozen lakes, let's go back - or forward - to a warm early June day.

It's one of those days... The leafs just came out. There is still a distant, lingering memory of winter but it is fading fast. I like to take the short hike, if possible, once a week, especially in the spring and early summer. It's a great excercise and the reward is, amongst many other things a phenomenal 360 degree view of the region: the Catskills, the Berkshires, New Paltz and Gardiner and all the way down to Bear Mountain.

Ok, so, the car can park at Spring Farm Trail Head. From there it's a brisk 20 minute hike and/or run to the beginning of the bolders. This is where the fun starts. Must have been hundreds of thousands of years ago when those massive bolders broke off the side of the mountain and crashed into the woods below. I always feel a bit uneasy in the beginning. Just for a moment, the question forms in my head: what if it happens again? What if, in a freak accident of fate, another 500,000 tons of stone came crashing down, while I'm on my way up there... I never win the lottery, so I think I'm safe with the chances on this one as well.

So, here we are, at the bottom of a field of bolders starting at the hiking trail and leading up to a vertical cliff. Ok. Almost vertical. Vertical in places. Not everywhere. If I still thought about inspections and lawyers, negotiations and binders on my way up here, I now can forget about them completely. At least for the next 15 minutes I have to concentrate on the task at hand: climbing the large boulders without slipping or falling.

Once on top, the views are magnificent. Small, strangely twisted pine trees stand like guard posts on the upper plateau. There are several places in Europe where I have encountered similar trees: Turkey, Corsica, Italy and France for sure. I can't think of the name of the trees but they complete the feel of an utterly different world up here. Hard to describe what usually happens during the next 30 minutes. I just sit there, watch the vultures soar - some come relatively close to where I sit.

I start to feel... the only way I can describe it is possibility. Freedom too but more the thought that anything is possible. I can do anything. There are no limits, no boundaries, just this vast openness of thought... ...That's usually when my phone rings :-) I actually did a final negotiation on a deal once up there. I like that part of my job.

To be up there when the sun sets is an additional bonus. It sets right behind the mountain range that makes the beginning of the Catskill Mountains. Once it sets though, you have to be relatively quick to get back down to the car.

So, whenever you are in the area and whenever you feel like experiencing this incredible region from a very different viewpoint, spend a few hours at Bonticou Craig and watch the vultures soar. And maybe, if even for a few moments, you will too...

...and if you wait too long...

2008-02-03T05:58:00.000-08:00

... it will be gone! This, slightly changed, line from 'Wait' by 'Ready Set Go' provides a fitting premise for this article and of what I believe will be the situation in the real estate market, come spring. Buyers, right now, are in waiting mode. Who can blame them? The market in general hasn't been performing well in the last year. Talks about the economy, the sub prime crisis and the steep decline of national house sales leave the educated buyer where they are: At home. Most of my listings had increased online viewings since December. I think most buyers are motivated. They just aren't certain of what is going to happen.

We often talk amongst ourselves in our office, and about the clicheed and overused line, "NOW is the time to buy!" that we are telling our buyer clients. Of course, you think that that's what we always say. We are in real estate. That's our bread and butter. But now IS, in my opinion, TRULY the time to buy. When everybody else is waiting, that's when you should buy. In five years, there hasn't been as much inventory as we have right now. Owners are more negotiable than they have been in a long time. The interest rates are at an all time low. There aren't three buyers for one decent and nice property at this moment. There is only you. Even though, in the last few weeks, we had several homes (in the $500k to $700k range) that already had multiple offers on them. Right now, buyers can still get in under the radar and buy a house for a good price and live in it by May. I think the day will come, when the wait is going to be over. A shift in buyer's perception, a few articles here and there about the market stabilizing and suddenly the door opens and a crowd of eager buyers will flood the scene to finally make a purchase.

Have you ever been the first in an empty movie theater? You feel a bit awkward all by yourself, you hope that the movie is going to be good with so few other people watching but you also have the choice of the best seats. And then when the theater fills up you're glad you got in first.

Ulster County, as discussed in previous blogs, is different from the rest of the Country anyway. I think we will have a strong spring. Most of the nice homes that are on the market right now, will be sold by June and then it will be much harder to find something again. So, if you are waiting for the right time, maybe you want to consider coming up and looking at some houses. If there is one you like, make an offer. And come spring, you'll open a lemonade stand in the front lawn of your new home, for all the buyers that came after you and are now thursty from all the driving around and searching for the right house.

A dog's life...

2008-02-02T08:43:00.000-08:00

Hi, my name is Sophie. I always read my dad's blog about Real Estate and Restaurants and why people should come to Ulster County. And that's all great and good but then I thought, wait a minute! What about US? I live here too - and very comfortably. So, I see it as my duty to inform all my fellow kanines about what YOU can do around here. I'm pretty busy so let's get started: First of all, let me tell you something, I've been to Central Park once, a few years ago and I kinda liked it but that's nothing against what you can have up here. I chased several deer off my property the other day - what fun is THAT! Of course, the squirrells are great too. However, they seem to disappear suddenly behind a tree and seem to disappear into thin air. Not sure what that's all about.
Anyway, there are some great areas to go to if you want to have fun. Obviously, if your mom and dad own a home with some property and maybe a stream, that would be awesome. However, I can tell you about a few places where its almost as good as your own. There are plenty of creeks and streams where you can just cool off and even swim. There are several nice swimming holes in and around Accord and the Kerhonkson area. There is, for example, a very nice stream off Dymond Road in Kerhonkson where you can hike in State Land along the water for hours. Then there is, of course, Duck Pond. You have probably read about it in one of the previous blogs so I'm not going to bore you with the details. Lots of fun, is all I'm saying. The pond is pretty spectacular, especially in the summer. Great to jump off the edge after a ball or a stick. Nice nature smells all around. Sometimes you've got ducks (ergo Duck Pond :-) but they are too far out. Don't even try to go after them.
Ok, so, one more amazing destination is Kaaterskill Falls in Tannersville. It's a 45 minute drive from Stone Ridge but it's well worth it. There is a long hike along the Kaaterskill Creek with plenty of swimmeable holes. After about 30 minutes, you'll go up the hill pretty steeply (definitely great to have 4 feet on the ground on this one) until you reach the falls. You can actually go BEHIND the water fall. Pretty amazing stuff. If you want to go further up, there is another steep incline until you come to the top of the falls. Great views, great swimming. You can relax on the warm stones and bake in the sun, once in a while cooling off in the stream. It's a hard life up here but, hey, somebody's gotta do it, right?
I usually get my food at Lucas Avenue Pet Supply in Kingston. It's a bit out of the way but he's got all the good food, like Wellness, Eagle Pack, and others. I usually go to Kingston Animal Hospital for anything related to my health. They have always been nice to me. There is another Vet in Stone Ridge that I heard good things about but I don't know them personally. Let me know if you hear anything.
What else? There are plenty of dog training facilities. I went to one when I was a puppy. I can't remember... Anyway, I think that's it for now. I'll try to write again some time. Right now, I have to go out and roll in the snow. Oh, toys are us has a great baby pool. Only about 6 dollars. It's blue and plastic and about 4 feet in diameter. Perfect for those hot summer days...
Hope to see you up here some time.
Yours truly,

Sophelina Principessa of Goodness
(you can call me Sophie ;-)

Hiking at Mohonk Preserve

2008-01-28T17:59:00.001-08:00

There are 2200 scenic, secluded and unspoiled acres of land at the Mohonk Preserve. There are 85 miles of hiking trails. That's roughly the distance from the George Washington Bridge to New Paltz. At 2.5 miles per hour and a six hour hiking day, it would take about a week to hike all of it.

I sometimes take my dog to Duck Pond, located on the east side of the Mohonk Preserve. A short drive from Stone Ridge and a nice 30 minute walk from the car to the pond. My dog loves to swim there and I love to sit and take in the scenery: the stillness of the crystal clear lake nestled into the hills and behind it, far up, the Mohonk Bell tower. The other day, a friend of mine and I decided to explore the area a little more. The outcome was a great 2 1/2 hour hike. After parking the car, we walked through the woods to Duck Pond, at one time crossing the Aqueduct.

We are so used to the Aqueduct around here that we rarely think about it anymore. But the fact is, there is a massive underground fresh water pipe, about 30 feet in diameter, coming from the Ashokan Reservoir and leading straight down to New York City. Gravity fed!! For anybody who is interested, there is a documentary called 'Deep Water', available at some of the local stores around here, showing the construction of the Reservoir and the Aqueduct. It was an amazing undertaking including the relocation of 14 small towns and built by thousands of workers from around the globe for over a decade in the early 1900s. I always see the aqueduct as the life blood line, connecting people from New York City to their second homes up here in Ulster County.

There are two ways to go around Duck Pond. We went to the right, leaving the almost completely frozen Pond to our left. After a few minutes, a small trail ("Duck Pond Trail") splits off to the left. This path leads along the creek and up the hill (pretty steep at times) to 'Oakwood Drive', a wide, well maintained hiking trail. Taking a left turn and hiking for about half an hour, we eventually arrived at a large meadow from which you can see all the way down to Bear Mountain and across into the Berkshires. A beautiful sight. From there, it was another 45 minutes slightly down hill and back to Duck Pond.

In those hours, away from it all, when all I think about is the beauty of this amazing region, the magnificent vistas and all the wonderful outdoor activities, I can't but feel lucky to be here all the time and to have found a place where I can work hard but also be able to create a much needed balance for all the business. I hope you have the opportunity to come and visit and explore some time. I guarantee you'll love it!!

First snow of the season

2007-12-21T05:28:00.000-08:00

A week ago, we had our first major snow fall of the season. About a foot fell overnight, powdering everything in a thick, white layer of fluffy snow. I just moved into my new house this summer and I knew my neighbor down the street had plowed the house before so I wasn't worried. I called him up at the day of the snow storm asking if he still plows. He said 'no'. He retired and was on his way to Florida. Around here, people still know each other and, of course, Ken told me not to worry and that he knew a very nice guy whom I should give a call. Ken was sure he'd plow my drive way. So I called James and his wife answered. "He'll be home after 6 PM and he'll give you a call." By now, it was snowing really hard and we were expecting 8-12 inches for the night. No way I could shovell my driveway. At somewhere around 7 PM, James called. We talked for a minute, I told him where I lived and also that another neighbor across the street who had just moved into her house a few months ago, was also looking for someone to plow. He told me to tell her to call him. No problem. I did.

At around 10:30 PM, he arrived. We chatted briefly, I paid him 40 dollars, asked him about the neighbor. He said he just came from there. Great. He left 5 minutes later. My driveway in excellent condition. Its great to live in the country!!

O Tannenbaum, O Tannenbaum...

2007-12-15T11:17:00.000-08:00

... wie gruen sind deine Blaetter." Born and raised in Germany, Christmas has always been very big in my family. My grand mother, as far back as I can remember, made karp as the main dish, with a brown beer sauce and poppy cake (the most incredible cake I have ever tasted). The scales from the Christmas karp were dried and distributed amongst the family members to put into their wallets - to make sure we always have enough money. My mother still sends them to me each year. And I still put them into my wallet, each year anew. Some traditions are not supposed to be broken. This for me is one of them.

Christmas day in Germany is on the 24th. In the morning, the tree is prepared. I remember as if it were yesterday, the smell of the pine sap as it stuck to my fingers and the stinging of the needles in my hands when I helped my father using a saw to get a straight tree bottom. Then we'd put on the strings of lights and red and golden balls and finally the small stable at the foot of the tree with Mary and Joseph and baby Jesus and the three Kings and plenty of sheep and a real glowing fire.

Once the tree was up, we then had to spend long hours of waiting. At some point, the door to the living room was being closed and we couldn't get in anymore. All in preparation for the Christ child to arrive and lay the presents under the tree. So, my sister and I would run from window to window in our house, our noses glued to the glass looking out to see if we could spot it somewhere. And then, just as we thought the time had finaly come, we'd sit down to dinner. There was always an additional chair at the table with a full set of plates and silverware. It was there in case a lonely wanderer would come and ask to sit at our table. Nobody ever came. It was a very nice tradition though and one I always remember. Then, after dinner, my dad opened the door to the living room to see if the presents were there. And, of course, they were.

We all gathered around the tree and sang "Stille Nacht", "Leise Rieselt der Schnee" and other German Christmas songs. After we sang, we all wished each other a merry Christmas and THEN, finally, we could open our presents. The 25th and the 26th were both holidays as well. This gave us enough time to play with all of our presents. Most of the time, the family stayed together during those days. My mother always cooked either duck or goose or rabbit with red cabage and dumplings with gravy. We ate the left overs of the poppy cake. It tasted even better then on the first day.

Now, more than 30 years later, I think back on it, think of the joy of Christmas. It never truly left me. It comes back each year.

Merry Christmas to you and your family!!

Stefan Bolz

Real Estate Statistics for Marbletown, Town of Rochester & Olive

2007-12-03T08:15:00.000-08:00

In the month of November, the price range of $200k to $350k had 88 active listings with 13 pending. That is a slight increase to the previous month from 10% to 15%. This price range stays very active. In the range of $350k to $450k, 31 listings are active and 3 are pending. Between $450k and $850k, we have 66 active listings. 2 listings are pending. Above $850, there are 21 active listings with 3 pending. The middle price range (350k to 850k) stayed unchanged, so did the range above 850k.

The Ultimate Vacation Home!

2007-11-14T12:01:00.001-08:00

Just listed!!!! Very nice, privately sited contemporary, only minutes from High Falls, close to Mohonk Preserve & Minnewaska State Park. Enjoy this open and spacious, bright and sophisticated country home, perfect for entertainment or quiet country living. Inground pool, fire places in both living and master bed room, gourmet kitchen, wood floors, large deck and french doors to bring the outside in. Enjoy your stay in the country from day one. Click the link below to view the flyer and virtual tour. http://www.realestateshows.com/flyer.php?id=229234&traffic=0

New York Times article about Marbletown

2007-11-12T16:57:00.001-08:00

In Friday's New York Times appeared an article about Marbletown, talking about some of the reasons why Marbletown became such a prime second home destination. I disagree with one comment a local realtor made though about the prices being down 15%. As you can see in the stats in my last blog, sale prices went up 3% from last year. But here is the article: http://travel.nytimes.com/2007/11/09/travel/escapes/09havens.html

Ulster County Market Trends 1995-2007

2007-11-09T09:01:00.000-08:00

This is a very interesting chart, showing average sale prices during the time between 1995 and 2007. With everthing that has been going on on Wall Street (Dow Jones, Nasdaq, Oil prices, etc), prices in Ulster County have steadily gone up, from $100,000 in 1995 to $300,000 in 2007.

Places to go, people to see... Part II

2007-11-08T06:50:00.000-08:00

Dinner is served... Located in the Town of Olive, NY, at the end of a beautiufl six-mile drive up County Route 2, overlooking a quiet pond, with food to die for, with about 120 different kinds of beers (being from Germany, and even though its SUCH a clichee, I must say this is a VERY GOOD thing), a fire place for those cozy winter nights with friends, the hosts - Pete & Dianne - who brought and still bring localites and weekenders together... And did I mention the excellent cuisine... okay, to make a very long description short - Go to The Country Inn for dinner. http://www.krumville.com/

Tell Pete (the guy behind the bar) I said 'hi'. I might be there, picking up one of his organic burgers with the best hand cut french fries you can possibly get.

There is more to come... don't go away.

Real Estate Statistics for Marbletown, Town of Rochester & Olive

2007-11-07T18:04:00.000-08:00

October, 2007. In the price range betwen $200k and $350k, there are 98 active listings right now. Nine of them have accepted offers. 89 are available. About 10% of the active listings are pending. In the range between $350k and $450k, we have 63 active listings, three of them are currently pending. The three pendings are priced at $360k, $365, and $425k. 44 listings are active in the $550k to $850k price range. Two of them are pending. In the range above $850k, we have 25 active listings. Two of them are pending - at $879k and $899k. That's roughly 10%. Basically, the middle ground - $350k to $850k moves very slowly, even though many of the homes are getting a decent amount of showings.

There is, right now, plenty of inventory to choose from. Many of my colleagues and I agree though that once the media announces that the market has become more solid, the middle price range will become very active again and more buyers will come up to seize the moment. The problem then will be the following: right now, there are a few buyers looking at many listings. There is a lot to choose from and buyers are taking their time. Its like being in the subway at 2 AM in the morning. Nobody around. Lots of space, plenty of seats to chose from. However, if and when buyers start to come out of their hiding places, there will be a significantly larger number looking for the same amount of homes. We might even see multiple offers again for a while. Rush hour. So, my professional oppinion is this: If you are a buyer looking for a house, now is the time. Owners are more negotiable than they have been in quite a while, there is more inventory than in five years and there is still a reasonable amount of time - until the window closes. If you find a house you like, don't wait hoping the market will drop more. I honestly don't think it will. If you're not sure about the house, of course you should wait and try to find a better one. But don't wait for better weather. This is it, from a buyer's standpoint. The sun is out. It will not get better than this. Carpe diem. Seize the day. Fasse die Zeit.

Why Choose Ulster County?

2007-10-02T15:20:00.001-07:00

Its easy to see what makes this area so beautiful and desirable. If I wouldn't own a house here already I would give anything to be here at least every weekend. Fortunately, this sight is what I can look at each day - lucky me. What is truly fascinating to me is that there are nicer areas. Vermont is amazing, the Hampton's, the Berkshires, parts of Connecticut are beautiful. But here, its almost as if you get it all. First of all, its close to the city (you can be here, gazing at this meadow, in less than two hours from Manhattan). The amount of outdoor activities is incredible. 600 miles of hiking trails at Mohonk Preserve alone (just a stone throw away from where this picture was taken), world famous rock climbing, exploring of lakes, waterfalls, ice caves, ice climbing, plateaus with unbelievable 360 degree views, quaint little towns like High Falls, Rosendale, or the more famous ones like Woodstock - each unique and each worth visiting over and over again. Film festivals, Shakespearean theater, Classical concerts, garlic and pickle festivals, horse back riding, hang gliding, cross country skiing, biking, canoeing - you can even do a parachute jump if you want to. Combine that with the amazing beauty of the region, very good restaurants, excellent antiquing and 'flea-marketing' and you have yourself a winner. There is also a sense of community without the competition of whether or not your neighbors' grass is greener or the car bigger. Here, you can be quiet if you want to or active if you so choose. So, if you haven't already thought about it, give it some serious consideration and just come up for a day and explore... And then, when you're ready to make this love affair permanent, give me a call at the office and I'll make sure you get a great house that you can enjoy for a long time to come. [The picture was taken at about 6 PM on October 2nd. The light was incredible - and impossible to capture. The location is Schoonmaker Lane in Stone Ridge, NY.] Click here to search the MLS for listings.

Creekside Contemporary

2007-10-02T05:15:00.000-07:00

GORGEOUS STREAM-SIDE CONTEMPORARY ON 6 PRIVATE ACRES, SURROUNDED ON THREE SIDES BY THE MOHONK PRESERVE AND LOCATED IN BEAUTIFUL
CLOVE VALLEY. IT RARELY GETS BETTER THAN THIS. ENJOY THE PEACEFUL SURROUNDINGS AND THE SERENE VIEW OF THE STREAM FROM ALMOST EVERY
ROOM; HIKE INTO MOHONK FROM YOUR BACK YARD AND LET YOUR FEET DANGLE IN THE WATER... [3BR / 2 Bath, 3000 sqft, $850,000] Click here to search the MLS for other listings.

Places to go, people to see... Part I

2007-10-01T19:05:00.000-07:00

Part of the flair of Ulster County, and especially of Marbletown, NY, are the small town locales and the quirky little places that make life around here so much fun. My office is on Route 209 just outside the town center of Stone Ridge. I'm there most of the day usually and sometimes into the evening hours. I live only 7 minutes away so I spend a lot of time around. There are some very nice places to go to in just minutes of time. Here are some of them - selection in no particular order and completely subjective and biased. For lunch I go across the street to Jack & Luna's. Their soups and pannini sandwiches are amazing. Try a tomato basil bisque soup and a roast beef pannini (with caramelized onions and horse radish sauce). You won't be disappointed. They also have excellent humus, salads and other delicious items on their menu. If you want baked goods, unique gifts and the best cappuccino in town, go to The New York Store in the center of High Falls. The Egg's Nest, a bit further down the road, not only has excellent food - Mexican and American cuisine - but also a very nice atmosphere. Basically, the whole restaurant is one gigantic collage of artfully assembled paintings and scurille items. Lots of fun. Breakfast is great at the High Falls Cafe, right across from the Egg's Nest. This is just the beginning, so stay tuned for more...

Real Estate Stats for September, Town of Marbletown, NY

2007-10-01T16:31:00.000-07:00

Seven listings sold in September in Marbletown. Price range between $184k to $435k. 103 listings are currently active, five of them are pending. The listings that are pending range between $225k and $365k. Interesting to see that in September nothing has sold or is pending that is over $435,000. Showings were down in the price range between $350k and $800k. Below $350k remained active and, interestingly enough, above $850k remained active as well. Just in the last two weeks, the showings in the middle price range picked up as well. In my opinion, October will be very active in Marbletown. Click here to search the MLS for listings.

Serenity Now

2007-10-01T15:27:00.000-07:00

If you want complete privacy without being remote, a light filled beautiful contemporary home with in ground pool and cabana, lots of space for your family and friends to stay, a large open kithcen, screened in porch, master bed room suite and a separate 30 x 46' studio/artist space, this might just be perfect for you [4 BR, 2.5 BATHS, 2862 sqft, 10 ACRES, OFFERED AT $625,000]
Check out more images at:
http://www.realestateshows.com/show.php?id=202325&traffic=0

Bring Your Dreams...

2007-10-01T15:13:00.001-07:00

Magnificent views of the Hudson River and all the way across into the Berkshires, 90 sweeping acres of meadows & park-like grounds, swimmable pond, long road frontage, 1-acre zoning, access to 600 acres Scenic Hudson Park for horseback riding, etc, ideal for sub division or to build your own private estate. Incredible 10,000 sqft 3-story post & beam barn, additional 11,000 sqft building, close to Mid Hudson Bridge and Poughkeepsie, easy access to I-87. Whatever you can envision is possible here. Offered at $3,800,000

Check out the picture tour at: http://www.realestateshows.com/show.php?id=213759&traffic=0

Endless Horizon...

2007-09-25T19:57:00.000-07:00

"The endless horizon awakes you each morning; it expands your senses and nourishes your soul".

Very lovely and light filled contemporary ranch with the most beautiful valley views you can dream of. Enjoy your own slice of heaven, gaze at the endless horizon from the oversized, private deck and almost every room in the house. This is the perfect home - for weekenders and full timers alike. [3 br/2 bath, fire place, hardwood floors throughout, completely renovated, Kerhonkson, NY, offered at $299,000]