Localism: Dutchess County, NY

Rhinebeck NY Real Estate Market Report November 2008

Mon, 01 Dec 2008 10:55:00 -0600

We are fast approaching the end of 2008 and many homeowners are still hoping to get their home sold. The number of sales is still small in comparison to listings; however just last week interest rate dipped below 6% so this might entice more buyers into the market.. Like other communities, this area too has had to confront foreclosure; this recent blog by E. Jeffrey Dolfinger shows no one is immune to being foreclosed on.

Here is the real estate activities for the month of November compiled from data from the Mid Hudson Multiple Listing services on December 1st.

Active listing 48

Average List Price: $853,415 - It is this high because of 8 properties price over 1 million.

Days on Market: 143

Average Square Feet: 2969

Average $ Square Feet: $287

New listing 2

Average List Price: $642,500

Days on Market: 6

Average Square Feet: 2794

Average $ Square Feet: $230

Accepted Offer 2

Average List Price: $664,950

Days on Market: 308

Average Square Feet: 2350

Average $ Square Feet: $283

Price Change 1

Average List Price: $264,000

Days on Market: 25

Average Square Feet: 1000

Average $ Square Feet: $264

Sold

Average List Price: $399,000

Days on Market: 162

Average Square Feet: 2800

Average $ Square Feet: $143

Average Sold: $399,000

Average Sold $ Square Feet: $143

Village of Rhinebeck NY Real Estate Market Report November 2008

Active listing 27

Average List Price: $520,074

Days on Market: 223

Average Square Feet: 2171

Average $ Square Feet: $240

Accepted Offer 1

Average List Price: $387,000

Days on Market: 118

Average Square Feet: 2105

Average $ Square Feet: $184

By Jennifer Fivelsdal

Keller Williams Realty Team

845 758 5842

Dutchess County is NOT upstate

Sat, 29 Nov 2008 22:42:05 -0600

Having lived in Dutchess County all my life, I know that most people from the NYC area have long considered us to be "upstate." Well, we're not upstate, nor are we Westchester-North. What we are is a great place to live. We are in the Hudon Valley, most of which is right on the banks of the Hudson River. We have a wealth of culture (Hyde Park and all the Roosevelts and VanDerbilts, West Point, Vassar College, Bard College, Culinary Institute of America, DIA in Beacon, and the list goes on.) We have many tourtist attractions like the Rhinebeck Aerodome, The Balloon Festival, The Sloop Festival, Pick your own Farms, one of the largest flea markets in the northeast at Stormville. We have a great deal of open space where the zoning in some towns is a minimum of 5 acres. We also have great residential resale homes on smaller parcels. We have great transportation, both public and private. There are 3 metro-north stations in Dutchess County, Poughkeepsie, New Hamburg and Beacon. We have route 84 that cuts the county east and west and the Taconic State Pkwy that cuts it north and south. We have great schools, both public and private. I could go on and on.

What I'm trying to say is that Dutchess County is a great place to live and work. It is a great place to make new friends and it is all within an easy distance to everything that could mean anything to anyone. We even have an international airport right across the river in Newburgh-Stewart International Airport

Come take a tour. This is a great time to visit the county. The Millbrook Wine trail is in full swing. All the Christmas tree farms are operational on weekends. Business is booming in both the malls and the small boutiques in the individual towns. The restaurants are waiting for you. AND..................................... there are many homes on the market just waiting for buyers who come for a visit and decide they want to stay. I am always available to show you your first home, your last home or any home in between. All you have to do is call.

Margo Ramsey 845-416-4004

Dutchess County real estate agents

Fri, 28 Nov 2008 17:40:13 -0600

My dear colleagues

First of all, I hope you had a very enjoyable Thanksgiving with the special people in your life. I was just browsing through Active Rain and realized there are many of us agents here in the county that are members of AR.

In this market, even though we are competitors, we need to work together to get the job done. I know many of you listed as Dutchess County agents, as I'm sure some of you know me. I understand that it is always more prudent to keep a listing inhouse and have your own company win. However, in this market we can't always count on that.

Being members of AR gives us one more reason to accept the comradarie among ourselves. I would be happy to keep any of your listings in mind. I know that turn around is fair play. So, if any of you has a need for a great ranch on Sheafe Rd. for less than 300K, plelase let me know. It has two pages of upgrades and I would be more than happy to share them with you.

Looking forward to hearing from you soon.

Margo Ramsey at Ferris real estate. (845-416-4004)

New Short Sale Company in Poughkeepsie!

Thu, 27 Nov 2008 09:45:14 -0600

www.sosloanservices.com

SOS L Services, LLC is a Loss Mitigation Company specializing in short sales and loan modifications. We are a life preserver for those upside down in equity or drowning in their mortgage payment. With years of experience in negotiations, SOS L Services is here to help.

What is Loss Mitigation - a third party helping a homeowner that handles the process of negotiation between a homeowner and the homeowner's lender. Loss mitigation works to negotiate mortgage terms for the homeowner that will prevent foreclosure or negotiates a short sale.

Short Sale: This is a process whereby a lender reduces the principal balance of a homeowner's mortgage in order to permit the homeowner to sell the home for the actual market value of the home. This specifically applies to homeowners that owe more on their mortgage than the property is worth. Without such a principal reduction the homeowner would not be able to sell the home and if they are not able to make the mortgage payments then foreclosure litigation will ensue and the mortgagor will go into foreclosure

Recent Deals: A good example is the client/seller whom we closed this week. The client owed 295K to the lender and the current fair market value of the home is 235K. The offer of 235K was presented to the bank and approved with forgiving the client the 80K deficiency balance.

Coming soon - Process and variables for short sales !!

www.sosloanservices.com

Nancy Schoen

SOS L Services, LLC

4 Nancy Court Suite 4

Wappingers Falls, NY 12590

P - 845-214-0282

F - 845-230-8639

nschoen@sosloanservices.com

Defensive Driving Course in Rhinebeck, NY

Tue, 25 Nov 2008 13:15:43 -0600

I recently attended a class on Defensive Driving Course in Rhinebeck, NY. at my local insurance company. True- it was a win/win venture; saving me money on my car insurance while making the roads safer in Rhinebeck NY for myself and others.

I would like to pass along this message to you-- Is the time you save worth the Risk and the Money?

In Germany they tested speed and time in two experiments, both demonstrating the same outcome. One driver was told to make the best time he could on a 1000 mile journey; the second driver was told to avoid risk and move as the traffic flow permitted. The fast driver finished 31 minutes ahead of the slow driver after nearly 1000 miles. After all the braking and passing the same conclusion came from the second test of 800 miles only a time of 21 minutes was saved. The fast driver used ten more gallons of gas on this 800 mile trip. What was gained and what was lost?

" Perhaps an elderly gentleman who had just completed a 50 mile ride to Des Moines with his grandson said it best years ago. The youngster, out to show grandpa how a car ought to be driven, kept the speed limit most of the way, passing frequently , and occasionally dangerously , until he finally pulled up in front of the hotel. Quite a trip, huh, grandpa said the grandson? Yep, said grandpa gravely I figure we saved all of one-tenth of a second. Now what do you suppose we should do with it?"