Friday, June 14, 2013

Real Estate Recovery

Are you buying the rumors of a housing recovery?  This old house right here has made a believer out of me.

It's a fascinating place - a real Arts and Crafts gem (though a project) off Route 28 heading into the mountains - and it's been for sale for a long time. I remember wondering about it several years ago when I first moved back to the Catskills.

It's back on the market and guess what?  There are multiple offers.

If you've been reading this blog awhile (and if you have, I apologize I check in so infrequently. I've been busy writing for The Upstater  and selling properties) you may remember an old post where I described a wonderful, empty stone cottage in Woodstock that tugged at my heartstrings. I'm told there's a buyer - someone just waiting for the corporation that now owns it to get all the paperwork in order. 

There's a one-story fixer upper in Woodstock that I showed last week.  It's already got an offer.

Houses are getting snapped up after languishing on the market for many months. And many of the buyers are paying cash.

Some of those investors are my clients, and they tell me they're looking for promising properties where their money will bring them an eventual return.

I just listed a gorgeous 3 story historic storefront in uptown Kingston - a very hot area indeed.  The retail space is expansive - soaring ceilings and even a small catering area in the back.

  Upstairs is a gorgeous 3 BR loft-style apartment and on the top floor is magnificent studio space with a huge bedroom and another bath.
Everything's in great shape - even the basement! Will it sell?  You bet it will.

Just the sheer number of people who are interested in a sweet Woodstock cottage

or the shift in the kinds of people who walk through the office door...from casual browser to serious buyer ... tells me the market has shifted.  And now that interest rates are creeping up, I suspect it's only going to get busier.

Are you thinking about buying? Has your thinking changed in the past few months?

I'll tell you a secret - I'm starting to think about it, too.

1 comment:

  1. Where are these wonderful buyers with cash you speak of??? Are they from the city? My house near Goshen has been on the market all summer. A few people have been interested but nothing's worked out so far. Please send those buyers my way :)