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Dover Stone Church, Dover Plains, NY

Submitted by Joseph Pettinella on July 2, 2015 - 11:02am

A unique (and wet) place to get married?

A visit to the Dover Stone Church in Dover Plains, NY.  There is so much natural beauty in our Hudson Valley region!  The author has a series of videos of different hikes in around the Dover Plains area, and they are all worth watching.

Record Sales of "Weekend Getaway" Second Homes

Submitted by Joseph Pettinella on June 25, 2015 - 10:22am

Did you know that U.S. vacation-property sales jumped 57 percent last year to an estimated 1.13 million, and accounted for 21% of all transactions in 2014?

This is a record in data going back to 2003, according to the National Association of REALTORS®.

Vacation-home buyers had a median household income of $94,380 and the typical property was 200 miles away from a buyer’s primary residence. About 40 percent of purchases were in beach areas, 19 percent were in the country and 17 percent were in the mountains.

The Mid-Hudson Valley is a weekend getaway for many Manhattan residents who leave the city each weekend to enjoy the beauty and lifestyle here.

Contact Us to discuss your perfect weekend getaway dream home.  We will take care of all the details!

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Real Estate Market Trends - Why Homeowners Are Not Selling

Submitted by Joseph Pettinella on June 18, 2015 - 2:14pm

As we move through the Spring season, we keep getting more good news.  Nationally most the real estate news is good, and the Mid-Hudson Valley is conservatively following the same pattern as the nation.  The only negative news seems to be the continued low inventory levels that are keeping the numbers down to a lower level than they would otherwise be.

I was reading a survey that was conducted by an Association of REALTORS® in a Midwestern state (not New York) that showed that the reasons that homeowners are not selling have drastically changed over the past few years.  

In 2012, the most common reason for not selling was that homeowners were waiting to sell for a higher price, with 59% selecting this response. The next most common answer, concerns about the economy, came in a close second with 56%. 50% indicated that would-be sellers' homes were underwater. In a distant fourth, only 16% of survey participants indicated that potential sellers weren't selling due to a lack of homes to buy after selling their home.

Compare the 2012 responses with those from last month's survey, and the changing attitudes are dramatic:

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Mansions & Castles of the Hudson Valley

Submitted by Joseph Pettinella on June 18, 2015 - 12:43pm

The Lyndhurst Mansion is highlighted in this video, which is the first in a series of 3 videos of the major mansions, or castles, along the Hudson River in New York's Hudson Valley.  The history of this region is so interesting!  When the video finishes, you have the option to view the 2nd and 3rd videos of our local 'royalty' and how they lived.

Beacon New York - Art, Music, Eateries & People

Submitted by Joseph Pettinella on June 9, 2015 - 4:08pm

Watch the video for a look at the town of Beacon New York, its people, and its charm.  From unique gift shops, to art galleries, music stores, bars and restaurants, to it's scenic surroundings, Beacon is a gem of tradition and pride.

 

Thinking About Flipping Houses? Five Things You Need To Know

Submitted by Joseph Pettinella on May 29, 2015 - 1:37pm

If you are thinking about taking up house-flipping, there are 5 key concepts you need to know like the back of your hand.  House flipping is a lot of work, but if you're up for it and you do it right you can make some good money.  You just need to be smart, have a good business plan, and stick to it.  Emotions are not valid here . . . if a project does not fit into the financial framework, then pass on it.  You're doing this to make money, right.

#1 KNOW YOUR FINANCES

Determine what you can spend on both the house and the renovation, down to the last dollar.  Price out the cost of carrying a short-term loan (if you need one), taxes, utilities and maintenance on the home for about 6-12 months, depending on how long the renovation will take, and the average time it takes to sell a property in that community and that price range.  Price out the cost of materials and labor.

Study all the comparable sales in the same neighborhood and price range, to determine what the likely sales price will be. If you can't make the money/return that you expect, then pass on the house.  Remember that there are often unforeseen issues that can add to the cost, and if you are running tight on the front end, it could lead to a disappointing financial result when you sell.

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