March 2022
Special Edition
Hello all,

Houses are dripping into the market. With only 51 new listings and 370 total active listings in Dutchess County per Mid-Hudson MLS, we have a way to go to shake this inventory squeeze.

While buyers are chomping at the bit for new listings, I'm scouring sitting and expired listings for my buyer clients. Of course we also go to new listings, but keeping a pulse on other opportunities in the market can increase options and help balance the herd 15 minute showing window craze we seem subjected to more and more often. I am averse to buyers getting cold feet and having my clients go back on the market so I opt to extend days in the overall showing schedule than curtail a buyers time in the home. I did a 30 second parody on the ridiculous of 15 minute showings entitled "Only if You're Lucky" you can see by clicking here.

Expired homes are those that did not sell during the term of their listing agreement. In my opinion, houses should not be expiring in such a heated market, but they are. My listings fly off the shelf, but there are a decent enough amount that don't to keep track and contact. While Dutchess County is currently only posting 370 active listings and 306 in Ulster County, a total of 570 homes expired in the past twelve months in Dutchess County and 431 in Ulster County in the midst of the deepest inventory shortage in our area in recorded history. That's a pretty high number which demonstrates that houses sitting in the sidelines and expiring are serving to add to our inventory shortage dilemma, but they can also provide opportunity.

I'm meeting up with dear clients later this week to take a look at a home that has been sitting in the sidelines being passed over. My sniffer starting twitching like crazy when I saw this house and thought of its potential. If my clients like it, I have pent up need to negotiate that the sitting houses provide an outlet for these days so I'm going double down if they like it. (bet that brings a smile SR ;)
Builder Alert

I have been salivating over this opportunity for months and now it just hit the market! The first time I went up to see this property minutes south of Hudson on Route 9, I gazed at the beauty of the Catskill Mountain backdrop followed by two words: "Land Assemblage."

Don't get me wrong, the two parcels totaling 4.8 acres I just listed are prime in their own right, but there is potential to take that up a few notches to approximately 50 acres. Here's the kicker - it's mixed use zoning. Located approximately six miles south of Hudson; the town rated #5 "Vacation/Home Top Spot" nationwide by Realtor.com in 2021, in C-1 zoning which means, among other options, Commercial/Residential/Office. See permitted uses here. I have a thing for dirt my friends cannot understand, but I'm all about land assemblage, so click here to see how I turned a 5 acre parcel into a potential 50 acre opportunity. Take a look at full listing here.

Other investment opportunities coming soon. If houses are your focus, I've got some really interesting options coming on the market soon. Hang in there!
Counseling Clients

We are still in a very strong sellers market. For home owners interested in selling yet nervous about a smooth transition, let's talk. In a seller's market, you can have much higher expectations of buyers providing latitude in terms to help provide a smoother transition than you will likely find in a buyers market. Offers have been getting quite creative these days as realtors position their clients to be the crowned buyers.

My counsel to clients varies based on their specific situation. My clients tend to be open with me which is very helpful as I can better customize my counsel with deeper circumstance understanding. For instance, if my buyer clients have limited liquidity, I am not going to suggest a drop of the appraisal or making up the gap should there be one when the appraisal comes in. I will rather look for other creative ways to position my clients in the most favorable light. Contingencies are what protects a buyers down payment. While I want my clients to secure the home they fall in love with and my seller clients to enjoy highest and best, it is my job to watch my clients back and make sure they are being counseled and educated on the process the entire way so they can make sound decisions.

All the pretty houses...

There are real treasures in our region for certain. Waterfalls, creeks, mountain views, lakes, ponds, forestry - all kinds of natural beauty surrounding homes in this area. The pretty house feature for this special edition goes to Cunningham Lane in Pawling. This is the latest new listing over $2,000,000 in Dutchess, Ulster and Columbia Counties. Click here to see it. Interested in making this reality break yours? Call me and let's check it out!
Miss the last issue? I went on a bit of a rant with "Inventory Shortage hits Historic Lows. Have we hit Pricing Plateau?" Seems odd to see those points in the same sentence, but our world is a bit odd these days. Here's the link if you missed the last issue. You can see back issues of The Brick dating back to January, 2021 by visiting my website (www.HudsonValleyNest.com) and scrolling down to The Brick.

Happy Spring all!

Best,
Sandi
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Sandi Park
Associate Real Estate Broker
Coldwell Banker Realty & Global Luxury
M: 914-522-6282
Email:  spark@hudsonvalleynest.com
Serving the Mid Hudson Valley and Global Luxury Markets