DUTCHESS COUNTY REAL ESTATE

President and NY Senator Clinton were taking a break from politics this week. They were spotted in the Dutchess County area of the Hudson Valley region, taking a leisurely stroll through the quaint little village of Rhinebeck on Tuesday. My broker enjoyed a little publictiy, courtesy of the Poughkeepsie Journal.   

A NEW LISTING! GORGEOUS TRANSITIONAL COLONIAL BUILT IN 2004 IN ONE OF LAGRANGE'S SOUGHT AFTER NEIGHBORHOODS. QUALITY ABOUNDS IN THIS HOME. CHERRY AND GRANITE CUSTOM KITCHEN WITH STAINLESS STEEL APPLIANCES, HARDWOOD FLOORS THROUGH MOST OF THE HOME, 2 STORY ENTRY & FAMILY ROOM. TWO STAIRCASES, RESTORATION HARDWARE LIGHT FIXTURES, GAS FIREPLACE, 9' CEILINGS. SPACIOUS BEDROOMS, FABULOUS MASTER SUITE FEATURES HUGE CLOSET WITH ADVANCED STORAGE SYSTEMS, LARGE MASTER BATH BOASTS HIS & HER'S GRANITE COUNTER SINKS WITH VANITY, LARGE TILED SHOWER, AND WHIRLPOOL TUB. ADDITIONAL ATTENTION TO DETAIL SHOW IN THE QUALITY MOLDINGS/DOORS & STONEWORK. EXTERIOR FEATURES INCLUDE A MANICURED LAWN, PROFESSIONAL LANDSCAPING, UNILOCK WALKWAY/WALL & PATIO WITH A CASCADING WATERFALL. THIS HOME ALSO HAS 3 ZONE HYDROAIR, CENTRAL AIR AND INTERIOR & GARAGE ACCESS TO FULL BASEMENT. FRIENDLY NEIGHBORHOOD. CLOSE TO TACONIC STATE PARKWAY. 10 MINUTES TO THE POUGHKEEPSIE TRAINS. THIS HOME SHOWS LIKE NEW! CALL CAROL FOR AN APPOINTMENT!  

This is a story about a man who on the surface seemed like he had everything. I was in awe when I pulled up to the big 2003 built home and I quickly made note of a few exterior features that impressed me, like the 3 car garage, the huge deck and covered porch in back overlooking a built in swimming pool and a pond. The property backed up to a preserved area and there was privacy extending beyond the property line. Nobody would ever be able to build behind this house.

I was even more impressed when I walked inside and saw the open floor-plan. I was greeted in the entryway with soaring ceilings and a beautiful chandelier. Straight ahead was the two story family room overlooking the private backyard - no window treatments needed on those expansive windows. The view served as a natural mural. The windows were abundant througout and positioned so well, the walls were neutral and all this made the sunlit house feel fresh and clean and new. The house was very nicely decorated. The kitchen was huge and well layed out and also overlooked the natural features of the backyard. There were two staircases, hardwood floors throughout, a Jack & Jill bathroom and the master bedroom suite had large his/hers closets with an expansive bathroom which included a whirlpool tub. It felt like I was in a builder's model. I wanted this house for myself! But, I would simply be delighted to at least market this house! It was stunning!

The man who owned the house had an investment property I sold a couple of years back and I was happy that he thought enough of me to call about listing his family house. Being a repeat customer, there were no barriers between us starting out. I could easily settle in at his kitchen table and set the record straight. The market was changing and I told him that it wasn't a good time to sell. His response to me was, "but, if you're buying and selling in the same market you're not really taking a loss". Good point. And, I knew then that he would be a smart and realistic seller.

Upon listing his investment property a few years back, I had found out that one of the reasons he wanted to sell it was because he was "tired". It was a 4 family dwelling and he would get calls at all hours because of tenant issues and maintenance problems. Being the handy-man, he felt compelled to fix it all himself, including the tenants personal issues - some of the families had problems co-existing. He told me that he was also a softie, often letting them pay late if they had to. Now, this was not so much the reason for him selling. This is not what made him "tired". He explained that he had cancer a year earlier and although he was fully recovered his energy level just wasn't what it use to be. He was just too physically tired to deal with it any more. So, we sold the place and he had one less burden. It had been a money maker but his health issues put things in perspective. 

So, when I sat down with him to sell his family house, I once again had to understand the reasons why. Turns out that when he built the house he was not fully prepared for the outcome of the tax assessment which eventually caught up with him. He was facing a $14,000 annual tax bill and he no longer had the income from the investment property. He and his wife were working like dogs to afford what they had. It was their dream house but he couldn't enjoy it because he was working overtime and running a side business. Apparently his bought with cancer had happened at just about the same time they moved into this house and they never had the opportunity to fully enjoy the lifestyle.

Fast forward....last year I sold their house and simultaneously found them a smaller place in a tree-lined neighborhood of older homes in the City of Poughkeepsie where the taxes are lower. They were delighted to be saving on mortgage and taxes. The 1920 built Craftsman style house had so much character, but better yet - it had a small attached apartment with a very sweet tenant who contributes to the house payment. As we put together the 2 transactions things were working out good - until he found out his cancer was no longer in remission. On top of that, we had combative buyers and sellers to deal with and neither had compassion when we were trying to work out occupancy agreements. I got them moved in, but the stress level was unbelievable. My client was spending days away in the hospital during treatments. On the day he moved, the movers had to work around him while he laid in bed. This is normally a physically fit man. By the time the 2nd closing rolled around we felt such a huge sigh of relief. It was a big burden off of my seller's shoulders, as well as my own. I lossed so much sleep during those weeks. My heart went out to this couple. But, the good news was that he was finally in full recovery again 2 months later.

A couple of weeks ago I bumped into the wife while I was at the doctors office. We had a nice chat as she brought me up to speed on things. She was very upbeat, and then suddenly she told me very nonchalantly that her husband is sick again. He is going to start treatments again soon and she was preparing to take some vacation time to help him through it. I was so bummed. This has been eating away at me. So, today I made it a point to sit down and send him a little email and I will follow up with another nice gesture - I just haven't decided what yet. This man has been an inspiration to me and I wanted him to know it. My message to him was as follows:

I know it's been a long time....   I ran into Mary Ellen recently and we had a nice chat. It was great getting caught up. It's hard to believe it's been a year now since the move. I understand you remodeled the kitchen and it sounds awesome. I'd love to see it. I told Mary Ellen that she should email me some photos. I imagined that this project makes the house seem complete now because everything else seemed to be in good shape. I know with her flare for decorating it probably looks even better than I remember it.   I was saddened to hear that you are sick again. Please know I will keep you in my thoughts and prayers as you move back into fighter mode. In this changing real estate market with so many people loosing their homes I have to consult with more and more who need to face the reality of starting over. I have you to serve as a good example of how they need to put life into perspective and realize there are more important things than the house they live in, or the luxuries. I remember you telling me "what's the difference WHERE I sit and watch TV every night". And, you were one of the first people I ever encountered who told ME "if you're buying and selling in the same market your not really taking a loss". You have the common sense that many people don't because your health issues have put things in perspective. If only more people could have the same perspective it would be a kinder, less materialistic and pretentious world. It's hard for me to fathom why people use all their energy to fight their way to the top to have it ALL but loose sight along the way of the more important things  - like health and family.   I appreciate that you have been an inspiration to me and consequently I can help others understand. I hope you will start feeling better again soon - you've got my prayers behind you! Please sign me up for your cheerleading squad!           

My message to all the readers of this post:

STOP! ...Stop taking life for granted. We've created a society where people think they have to have it all and there is so much pressure for us to show off how successful we are simply by the house we live in or the car we drive. STOP! Get rid of the ego! There is more to life than material possessions. People need to start becoming realistic about what they can afford and have financial cushions the unexpected situations that could cause a financial set-back.

I met with a couple last week and they were facing foreclosure because of health related issues. The husband is a man in his early 50's who suddenly found out one day he had a brain tumor. He's been out on disability and has mounting medical bills which exceeded insurance coverage. I was driving home from meeting with them and suddenly realized - this could happen to me! This could happen to anybody! Some people will read this and fantasize -"this only happens to other people". But, anybody who says this is not a realist! It could happen to anyone. And, if it happens to you - will you be prepared? Isn't time to ask yourself if you might be living in the clouds ?    

Are you considering a move to Hopewell Junction, NY? You'll be sure to find it a great place here! In fact, Hopewell Junction was ranked #31 on Money Magazine's Most Desirable Places to Live for 2005. One of the reasons for this is that Hopewell Junction is the closest town to the Dutchess County southern border. This makes the commute to NY City approximately one hour. Cross the border of the county south, and home prices are significantly higher.

Hopewell Junction has great schools, including one Blue Ribbon elementary school. The hamlet of Hopewell Junction offers an array of businesses, services and everyday conveniences. There are great parks and recreation programs in Hopewell Junction (through the Town of East Fishkill) and the new County sponsored Dutchess Rail Trail for biking, jogging, rollerblading. Hopewell Junction is a town of open space where many homes are situated on one acre plus wooded lots. Below is a glimpse of the local housing market.

Hopewell Junction Housing Update - July 2008

11 Homes Sold In July

Average Price $359,823

Average SF - 2366

Average $/SQFT - $152

Average Days On The Market - 116

Current Pending Sales - 44

Current Active Listings - 110    - (Average Price $558,038    Average SF 2869)

New Listings - 10  

Recent Price Reductions - 10    

For more information, icliding demographics, click on the link below:

http://www.city-data.com/city/Hopewell-Junction-New-York.html

Well, how can I be considered the Poughkeepsie expert if I can't throw around some trivia about this place I call home? Did the title of this post grab your attention? Well, how about taking the time now to figure it out? I didn't just make this up - somewhere hidden in the trivia below is the answer!

Samual Morse, the inventor of the telegraph, moved to Poughkeepsie in 1847 and lived here until his death.

The Poughkeepsie Journal is the third-oldest active newspaper in the United States.

Poughkeepsie was the capital of New York State from 1777-1783.

Until 1972 Poughkeepsie was home to the Smith Brother cough drop factory and the Smith Brothers' grave site is in Poughkeepsie Rural Cemetery. (ps. my church was donated by the Smith Brothers' in memory of their sister who was a nun).

Our 32^nd President, Franklin Delano Roosevelt was born nearby in 1882, and lived in his boyhood home until his death in 1945 - today this is owned by the National Parks and can be toured by the public. Additionally, there is a Presidential museum and library.    

A brewer named Matthew Vassar founded Vassar College in Poughkeepsie in 1861. Vassar College is in located in the heart of Poughkeepsie and famous college alums include Meryl Streep and Lisa Kudrow. Jacqueline Kennedy Onassis attended for two years.

The Lemonheads recorded a song titled "Poughkeepsie".

Because of the river views and easy access to New York City, famous wealthy families such as the Astors and Vanderbuilts built there exquisite weekend homes nearby.

The 2008 film The Poughkeepsie Tapes is based on a fictional serial killer from Poughkeepsie.

The name Poughkeepsie derives from a Native American word Upuku-ipi-sing), which means "the reed covered lodge by the little-water place," referring to a spring or stream feeding into the Hudson River, south of the what is currently the downtown area.

In the movie 1971 film The French Connection, Gene Hackman's character Popeye Doyle quipped "Did you ever pick your feet in Poughkeepsie?"

Poughkeepsie was the capital of New York State from 1777-1783.

Poughkeepsie is known as "The Queen City of the Hudson."

In the 1800s Poughkeepsie flourished with shipping, papermills and breweries which were located on or near the Hudson River.

When it opened in 1889 the Poughkeepsie Railroad Bridge was said to be the longest bridge in the world.

Poughkeepsie is home to the oldest continuously operating entertainment venue in the state, the Bardavon 1869 Opera House.

IF YOU HAVE MORE POUGHKEEPSIE TRIVIA TAHT CAN BE ADDED TO THIS LIST - PLEASE EMAIL ME!

I often wonder how the older generation functions. I've watched my own parents who are in their 80's transition into an automated world of call prompts, ATM's, VCR. DVD's, cell phones and other new computerized technologies. Heck, even my Dad's pace maker is re-charged via a phone call which gives off a signal to the device.

So, as I get ready to go away next week for vacation I am plugging away day and night. As I do much of my work at my computer, I have been downloading songs on my iPod so I can sit at the beach and listen to my faves.

And, then I thought about it for a minute - I'm a grandma!

Here I am blogging and downloading iPods! How awesome is that? OK, so I am a young grandma but it made me think again about my own parents and how they have transitioned so well into the world of computerized gadgets and business transactions. About 10 years ago I had encourage them to get a computer. They did. They even enrolled in a computer class together. They are on their second computer now and doing just fine. Dad had a stroke a few years ago so he is limited to computer games (which is good therapy) and enjoying photos of the family which are emailed to them. For a time period they even had it set up for video conferencing with the grand-kids. Mom does some emailing back and forth and I am surprised at the amount of things she has researched and found the answers to on her own. She's caught me by surprise sometimes when I've asked her "how did you know that"? And, she replies - "I found it online". COOL! And, that's not all. Sometimes she even goes into the chat rooms!

As people age they become more resistant of change! But, change is good. Why fight it? If you can't beat 'em join 'em! In fact, I ready recently that 60 is the new 40! So, does that mean I am not really over the hill?

Well, one thing's for sure - I'll never be a grandma who just sits in a rocking chair knitting all day, watching the Price is Right, cooking up a storm to woo the family to my kitchen! No, instead I will be emailing my grandkids and monitoring their activities on My Space!

When buying a home, your Realtor becomes your new best friend. My buyer clients and I always form a special bond during the home search process. When I am working for a buyer, I share my unsolicited opinions and thoughts. I sometimes notice how startled buyers are the first time I point out something a little questionable about a property. Hey, I'm just doing my job! I always find my buyer clients appreciative that I point out the positive and negatives. But, usually they seem a little taken back the first time I do this. I think that buyers sometimes imagine our job is to sell them a house ...any house. 

Perhaps buyers think of Realtors as aggressive sales people because it's commission sales. I'm sure this is because they've had the unpleasant experience with other types of sales people who work off commissions of high ticket sales - like cars for example. 

Pull into a car dealership and get ready to be ponced on the second you set foot on the lot. My husband and I like to have fun. We pull up facing the windows of the dealership but take our time. As we slowly get our of our car, we watch the sales people as they get ready to make their approach. We've dubbed them "sales gerbils" because of the way they immediately scurry over to us. And, they will try to sell us just about any car on the lot without ever mentioning the cons.  

But real estate is a bit different. I am obligated by law - to disclose what I see or know about a property. I am trained to identify asbestos and smell the mold. I might even comment on a funky floor plan. I am not just a sales person, I am a friend. I know a buyer will have to live day and night for many years with their decision. If it takes 20 homes, if it takes 50 - I'm in it for the long haul if I need to be. I don't use aggressive sales tactics and I don't just sell any house. The last thing I want to do is sell somebody a house and find out later they had issues. Or worse, I am contacted a few years later to sell the property. If my buyers pay too much, if the house has issues - as a listing agent, I might have a hard time selling it later on. IF they even select me to represent them again and aren't mad at me for not pointing out the good and the bad.

I tell all my buyer clients:

"I'm telling you this because you need to know and also because I assume you will select me as your agent when the time comes to sell - if you make a bad decision, we will be in it together when it's time to sell".

Buyers don't want to face challenges up ahead. And, I want their repeat business. So, with me you get brutal honesty. It's like when best girlfriends go shopping together and we ask each other "does this outfit make me look fat"? ....Don't we all respect the opinions of our best friends?

When buying a home, your Realtor becomes your new best friend. After all - ain't that the the way it's suppose to be? Friends don't let friends make bad housing choices!         

As an active agent working in this challenging market here in Dutchess County, New York - I would like to use this forum to caution desperate homeowners who might be facing foreclosure. DO NOT use a 3rd party negotiator who will charge an UPFRONT FEE for a short sale (pre-foreclosure). Don't spend a dime on this service when all you really need is an experienced real estate agent and a good local attorney who is an expert in negotiating with the banks.

In the Poughkeepsie area I am hearing stories of a 3rd party negotiator who is taking upfront fees from destitute sellers - a fee of $1,000-$3000. Understandably, anybody facing foreclosure does not have this kind of money, yet many homeowners have been desperate enough to scrape it together just to avoid a future credit report later on which might reflect a past foreclosure. The problem is - there can sometimes be a tremendous amount of inefficiency on the part of the 3rd party negotiator, AND - no guarantee the short sale will fly with the lender. With the 3rd party negotiator being paid upfront, many of these short sales are ending up going to foreclosure anyway after somebody has lined their own pockets. Yes, long after the sellers scrape together the money to avoid the foreclosure route, it happens anyway. Understand, when a homeowner is facing foreclosure, being able to close a home sale transaction fast is vital. Although a 3rd party company might quickly collect upfront fees, they are not always so quick or successful in getting lender approval and saving a seller from what they were trying to avoid in the first place - foreclosure.

I am hearing of increased fall-through transactions on short sales. Not only are many sellers out thousands after paying upfront fees to an inefficient 3rd party negotiator, but by the time a home sale transaction falls through the buyers have also paid out for home inspections, mortgage application fees and attorney fees. Not to mention, the emotional let downs on the part of both buyers and sellers. The sad part of a fall through transaction involving a short sale is that sellers have already had to face the emotional impact of their own financial woes and after paying upfront to the 3rd party they end up right back where they started and much closer to the auction block. In my opinion, any seller who has fallen victim to a 3rd party negotiator that has collected upfront fees on an unsuccessful short sale should report their experience to their state's attorney general who can possibly establish a pattern of consumer fraud based on other complaints that might have been sent in and/or that are being monitored. Beware of the wolf in sheep clothing!

And, BUYER BEWARE too ... buyers can also fall victim to a short sale!  

How does a short sale work?  

When a homeowner cannot fulfill the obligations to repay a mortgage and if the outstanding loan is greater than the home value of the property a lender will sometimes forgive the balance when the mortgagee has an offer. One rule of thumb is that equal homes must be selling at close to the same sales price that is being proposed to the bank. To get approval on a short sale, a the lender will stop dealing directly with the homeowner and this is where a 3rd party comes to play. BUT, a so-called 3rd party is just somebody without emotional and/or financial ties to the property. A third party can be an attorney, a Realtor, or a company that specializes in 3rd party negotiation with banks (and preferably not a company that takes upfront fees). The latter is hardly needed in NY because a Realtor is usually still required anyway to be able to quickly and successfully sell the property and in this particular state a real estate transaction involves an attorney. So, why pay a 3rd party negotiator upfront if there is already an experienced agent assigned to the transaction who is partnering with an attorney who handles foreclosure? 

Are you facing foreclosure?

If you live in Dutchess County, NY and are listing your property as a short sale, make sure you hire an experienced agent and an attorney who can make your transaction a success. Not all attorneys and real estate agents have the same training and expertise. You need an agent who has a proven track record of successful marketing and getting quick results and an attorney who is trained and experienced in representing homeowners facing foreclosure - you need an attorney who can negotiate successfully with lenders. Call me at 845-430-6543 to find out more. 

CHARMING HOUSE AT AN AFFORDABLE PRICE, SITUATED NEAR THE CITY CENTER. CLOSE TO SHOPS, BUS ROUTE, COLLEGE CAMPUS AND METRO NORTH TRAIN STATION. MOVE-IN CONDITION.