Carol Culkin

Is there good news on the horizon for Dutchess County homeowners? Two mortgage representatives told me this week in separate conversations that the Dutchess County area is no longer deemed a declining market by the lenders they work for. One rep was specific to state that the term being used now to describe the local market is "soft."

I don't think we'll see any robust changes in the near future. Up until now Dutchess County had been considered a declining market for the last 18-24 months. It may remain soft for some time., but this is a little better than declining. Have we hit bottom? Will the market turn around? Nobody has a crystal ball to really know for sure.

All I can say is that I have the statistics to back up what I was told. Something is changing and I think it's for the good, at least for homeowners. and perhaps not so good news for buyers still sitting on the fence. Click here to take a look at the market summary I posted a few days ago. Poughkeepsie Area Market Overview .

Hardship is running rampant these days. Everywhere I turn as a real estate agent I hear stories that bring me to tears. Many people are experiencing financial problems, unable to pay their mortgage and getting deeper into debt. Some of my past and present clients have confided in me about the feeling of shame and embarrassment they have experienced. Rarely do they talk openly to others about their financial problems and will usually treat this like a dirty little secret. And, most people don't know where to turn.

If you are experiencing financial hardship, the truth is that you are among many. Knowing this may not make you feel any better about the situation, but it should alleviate any embarrassment or shame. You are not alone. This is a sign of the times - 2009. And, perhaps talking to friends and family will help you get things off your chest. Hey, you never know who might be in a position to help you.

Last weekend I met a lovely couple at a party. She was about to undergo her last of several chemotherapy treatments for breast cancer. He had just experienced a third hospital stay since the beginning of summer after undergoing brain surgery. They hardly knew me, but they talked openly to our mutual acquaintances and were not feeling awkward about including me (a complete stranger) in that conversation. As I listened intently I realized that he has been out of work for several months, is behind in his mortgage payments, has credit issues and his bank won't give into his request for a loan modification.

I then told him I am a Realtor and suggested that maybe I could help by referring them to a good local attorney. I did not suggest that we talk about selling his house and I wasn't trying to move in for the kill as a real estate agent. See, he made it clear that he actually wants to STAY in his house where his children are most comfortable. All he wants to do is work things out with the bank. Oh, and he did also mention that he is still very good friends with the Realtor who sold him his house. They socialize on a regular basis with her and he asked me if I knew his friend professionally. I explained that I have talked to her on the phone a few times and I immediately knew I needed to respect that relationship.

I could have walked away thinking there was nothing to gain as a real estate agent. But, I didn't. I promised him that I would email the contacts I have to his friend the next day and he was receptive to the idea because the lawyer he had started to use was 3 counties away. I also suggested that he contact Cornell Cooperative Extension - a non-profit agency with representatives who might be able to help them work directly with the bank's work-out department. As, my attorney source tells me "lenders as a rule have come to realize that intervention during the delinquency and working creatively with the consumer who has the ability to pay in some way is better than a foreclosure". It's really worth the try.

My role as a real estate agent isn't always about trying to scrape the bottom of the barrel to find real estate leads and grow my business. It's not always about my own personal gain. I am always on hand to listen, even when I know I have nothing gain, I will at least try to provide a community service. A good Realtor knows that where to draw the line, when to just listen and provide advice - even if it's a FREE service. Real estate agents need to have a good mind for business, but a bigger strength is having the good heart to help others.

For Dutchess County residents seeking financial counseling FREE help and services are available at the Cornell Cooperative Extension - (845) 677-8223 ext. 119 ...click on the link below for more information.

http://www.ccedutchess.org/index.php?option=com_content&view=article&id=65%3Afamily-budget-education-program&catid=48&Itemid=89

Local real estate statistics were recently published for October 2009. The market update below shows that closed sales and the number of purchase offers accepted are UP since last October, while the inventory of available homes for sale has declined. This is great news for sellers, and should serve as a caution for home buyers who are waiting to time the market. In fact, the average selling price has not even changed significantly since last year.

October 2009 Sales Statistics

SINGLE FAMILY DETACHED

Oct '08 Sept '09 Oct '09 1 Yr. Chg / %

Closed Sales 131 136 155 UP 18%

Average Selling Price 305,897 303,491 298,982 DOWN 2%

Purchase Offers Accepted 125 148 166 UP 33%

Average Days On Market 128 130 128 SAME 0%

Available Listings 2249 2074 2027 DOWN 10%

Source: Mid-Hudson Multiple Listing Service Inc (MHMLS). These figures do not represent private real estate sales. This report reflects the sales activity of MHMLS, which comprises the largest sales volume sampling.

Carol Culkin, ABR, SRES, Associate Broker for Houlihan Lawrence, is your source for real estate in Dutchess County. Carol is an award winning residential specialist and has been a Dutchess County top Realtor since 2002. If you are looking for a real estate agent who will be your advocate while providing you top priority service, call Carol today at 845-227-4400 x358 or on her cell phone at 845-430-6543. http://www.dutchesshomefinder.com/

The weather forecast shows a wet, rainy, but warm Halloween is expected in the Mid-Hudson Valley and Poughkeepsie are. Hi 69 / Lo 42. It might turn out to be the first rainy Halloween night since I moved into my house 10 years ago. I can track the weather back that far because each Halloween I set up a table outside on my driveway and serve donut holes and cider to the trick-or-treaters. It's great to see all the neighbor having fun and to chat with the parents too.

If it rains this year I might need to set up shop inside my garage or forgo tradition all together.

And, after the trick-or-treaters are done collecting their loot, the next thing I'll be doing this year is setting all my clocks back.

Remember, Daylight Savings ends at 12am on November 1st. Yes, and it will be getting darker sooner now ...that means one less hour of daylight available each day for Dutchess County homebuyers to be looking at property. Well, we can always bring a flashlight to look around outside I guess Heck, I'm not afraid of the dark. Are you?

The Walkway Over The Hudson is a story of a community that came together to rescue a landmark bridge. The old Poughkeepsie - Highland Railroad Bridge was abandoned after a fire in 1974. It sat for decades deteriorating because it was too expensive to tear down. On October 3rd, 2009 the restored bridge was finally opened to the public. Take the walk and you will see how obvious it is that this river community is so very proud of our new Walkway Over The Hudson, but be sure to bring your sneakers - it's 3 miles to walk from one end to the other and back (1.5 miles each way).

For a better glimpse of the bridge on fire in 1974 click on this link: http://www.catskillarchive.com/rrextra/pbpj743.Html

I visited the Walkway Over The Hudson this week and had the chance to experience the beauty of the Hudson Valley during the prime time for fall foliage - while standing directly above the Hudson River. I am pleased to be able to share my photos below.

This recycled 120-year-old Poughkeepsie-Highland Railroad Bridge is now considered to be the world's longest pedestrian bridge.

Fred Schaefer is a local Poughkeepsie real estate attorney who I have had the pleasure of working with during my real estate career. I remember a few years back there had been a couple of different functions within the same month where Fred approached me and several other real estate agents - he couldn't stop talking so enthusiastically about the development of the bridge. Funny, I just could not see it coming together like it did - and, now today it is just as he had described. Yes, at that time I had my doubts. Fred offered to take us up to the bridge for a sneak preview - I had concerns about the structural integrity and graciously declined. No way was I going to go up there on that old relic! I was convinced the deteriorating bridge would crumble and I would fall to my death!

Fred continued to pursue his vision and successfully spearheaded this project which has even been featured by the NY Times. http://www.nytimes.com/2009/04/25/nyregion/25metjournal.html What a wonderful legacy!

For more information about The Walkway Over The Hudson and for frequently asked questions click on the link below: http://walkway.org/

For more information about the history of the bridge click on this link: http://en.wikipedia.org/wiki/Poughkeepsie_Bridge

This is the view of Poughkeepsie from the Highland side of The Walkway On The Hudson (1.5 miles away)

This is the view of the Mid-Hudson Bridge from the Pedestrian bridge ,a.k.a. The Walkway on The Hudson