Late May

Special Edition

Is the Market Softening? Nope, not yet

Memorial Day.jpg

Hello all,

Thoughts to families that have loved and lost heroes and children in and outside of our country. Absolutely insane some of the despair going on in our world. Hold those loved tight.

This is a quick special edition update to the May, 2022 edition "Are we Teetering?" With the heated multiple offer situations continuing, we are still very much in a strong sellers market, particularly for properties checking the coveted boxes.

While there were definite client scores this past week, two of my clients lost bidding wars competing against 20+ buyers on different homes. For one example, technically a one bedroom home with a loft for second sleeping area and large windows looking out to beautiful property. The combination screamed "weekend retreat" or "Air B&B". Listed for $460,000. 

Enter Air B&B...

My clients really wanted it. We knew we were competing and discussed different approaches. I encountered Air B&B buyers with another property who backed out when they learned the town was not Air B&B friendly; leaving my clients on plate as first backup and subsequently purchased the property. I shared this with the current bidding war listing agent as I was aware the town this home was in was also planning to tighten Air B&B. 

Since Air B&B can be a cash cow, buyers with this intention tend to bid well over any semblance of rationale numbers. For my clients sake, I didn't want high offers from Air B&B buyers taken seriously knowing a call to the zoning department would likely change their course when my buyers were fully in it for a weekend retreat of their own. (ok - we can also call it "positioning my clients," but this is the world we are in)

We settled in on an offer that had the capacity of putting $117,000 over ask on the table for a $460,000 listing. Clear title only contingency. Seemed solid to me and my clients. We waited with baited breath. Not enough. 

In Contract Post - Tobin.jpg

80 Tobin Drive, Clinton Corners

14 Days to Contract...

To be a buyer in this market is generally a frustrating and challenging experience. The eye popping numbers can be exasperating on realtors and their clients when wearing the buyer client hat. 

When changing gears to seller clients, empathy for buyers remains, but there is a mindset adjustment that allows these off the charts returns to seem acceptable, if not "normal," have to admit.

Numbers like $211,000; $198,000; $131,000 and $100,000 are a sampling of six figure numbers over asking my seller clients have recently enjoyed. In fact, I'm still holding the record for highest percentages over ask (51% and 43%) in both Ulster and Dutchess counties out of all brokerages and realtors with my clients sales. While the actual number over ask won't be disclosed until closing, the most recent contract deal at 80 Tobin Drive is slated to join this high return bucket as a clue.

Here's a snapshot of the timeline to fully executed contract on this one:

Days 1-6: Market entry, 37 accompanied showings averaging 45M-1 hour each. Multiple offers.

Day 6: Accepted offer multiple, multiple thousands over asking with matched backup.

Day 10: Inspections Complete

Day 14: Fully executed contracts. Woohoo!

I'm excited for my clients on multiple levels. Aside from the ultimate sale price slated to be another eye popper, the terms were crafted with care to provide the smoothest transition possible for their impending out of state move while speaking to the buyers desire to call this beautiful property home before July 4th weekend. First day on market to anticipated close date: 30 days.


Based on experience is this market as well as historical experience spanning over twenty years, here's my take on the "Secret Sauce" fueling the level of returns my clients routinely enjoy:

Solid pricing: You can lead a horse to water with the most effective marketing, but if not priced right, buyers will walk. Nearly 600 single family detached homes expired (did not sell during the term of their listing agreement) in Dutchess County alone in 2021. This stat proves overpriced listings will most often sit in the sidelines and help other more realistically priced properties sell.  Generally speaking, overpriced listings do not enjoy the level of multiple offers that solidly priced listings do, if at all.  It is much more common for an overpriced listing to rather negotiate down with a singular buyer, reduce in price to sell or expire.

Effective marketing:  There is a true marriage between solid pricing and effective marketing.  Understanding the buyers for a particular property and speaking to them in both copy and photos is essential. I had a ton of people ask me about the red bucket featured in photos during showings. As the hoist of supplies to tree climbing adventurers, the bucket represented a lifestyle. A story.  

Accompanied showings: Accompanying is not determined by price point in my books but rather if attributes would best be supported by accompany. I take buyers frolicking in fairyland with me when a home rests on bucolic property. If the home needs certain known repair and restoration, I'll point it out. I've found appreciative and solid buyers that want to transact by simply allowing buyers to breathe and handling showings with grace and honesty.


80 Tobin Drive

Clinton Corners Township

Rhinebeck Central Schools

Listed for:  $589,000. What's your guess on what it will sell for?  Email me!


See the beauty of the pond with natures irrigation at work here.

See Full Listing Here


"Sandi is not a salesperson, but a partner with you on your journey."  Katie L.


Five acres in prime visibility location

Just south of Hudson

Catskill Mountain views

Two parcels - $300,000 for both.

Two parcels of commercial land within minutes of hopping Hudson (adjacent 2 acres and 2.8 acres with one being a corner lot.)

See Full Listing Here 

The long and short of it - we are still experiencing a strong sellers market. There seemed a gasp moment when many cash buyers saw their stock portfolios take a bit of a tank and certain mortgaged buyers as the interest rates have been rising. 

For now, cash buyers appear to have largely licked their wounds while mortgaged buyers still in a position to buy appear that much more eager to get in before rates increase further. Based on continued market demand and inventory shortage, it does not appear the Hudson Valley has hit the "softening" bucket.

We know what is now. If you have interest in selling, drop me a line and I'll attach realistic numbers to your property. It may or may not make sense to sell based on your goals. I'll tell it like it is. Coming to peace with a finite decision while the market is still strong may be worthy to consider.  

Enjoy the holiday weekend!




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Sandi Park

Associate Real Estate Broker

Global Luxury Specialist

Coldwell Banker Realty & Global Luxury

M: 914-522-6282


Serving the Mid Hudson Valley and Global Luxury Markets