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Mid-Hudson's high-priced homes tough to sell
Times Herald-Record Middletown, NY ^ | 9/4/12 | James Walsh

Posted on 09/04/2012 12:11:07 PM PDT by Impala64ssa

$500,000-and-up segment 'very weak'
Don and Karen Walton sit in their classic Georgian center-hall colonial, in the slowest-moving segment of a slow real estate market. Their million-dollar Goshen home, set amid expansive lawns and English-style gardens, drew three prospective buyers in 2011.

"In six months, three people," Karen Walton said one morning in her kitchen. "This year, so far, we've had seven."

Don Walton, 70, a retired engineer, said: "There was a flurry of interest in July, when we had four people. There's been nothing in August."

Any offers?

"No offers, no second looks," Don Walton said. "They said it was a beautiful house, but some said the price was too high when they shouldn't have been looking in the first place. Some people do it for entertainment. They don't have anything else to do, so they look at houses. Out of all the people who looked, I'd say three were qualified buyers."

Few million-dollar homes sell

The lack of action isn't unusual in the million-dollar home market.

In late July, there were 64 single-family homes for sale in Orange County priced at $1 million or more, according to the Hudson Gateway Multiple Listing Service. During the first seven months of the year, only three such homes sold.

The malaise extends to houses priced at $500,000 or more.

(Excerpt) Read more at recordonline.com ...


TOPICS: Business/Economy; News/Current Events; US: New York
KEYWORDS: economy; realestate

1 posted on 09/04/2012 12:11:15 PM PDT by Impala64ssa
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To: Impala64ssa

Obviously these are one percenters and need to have these homes taken away from them and converted to Section 8 housing for those in need.


2 posted on 09/04/2012 12:14:10 PM PDT by nascarnation (Defeat Baraq 2012. Deport Baraq 2013)
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To: Impala64ssa

thanks Obummer.


3 posted on 09/04/2012 12:14:47 PM PDT by brivette
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To: Impala64ssa
""And when the economy recovers,....."

Are these folks 0bama supporters??

4 posted on 09/04/2012 12:15:19 PM PDT by Paladin2
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To: Impala64ssa
$500,000-and-up segment 'very weak'

It's a tough sell because $500,000 is WAY above the tolerated level of affordability for anyone as 0bama has "dictated".

5 posted on 09/04/2012 12:17:23 PM PDT by EGPWS (Trust in God, question everyone else)
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To: Impala64ssa
high-priced homes tough to sell
And the solution is .... anyone? Anyone? Bueller?
6 posted on 09/04/2012 12:19:12 PM PDT by oh8eleven (RVN '67-'68)
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To: Impala64ssa
Their million-dollar Goshen home,

million-dollar says who?

7 posted on 09/04/2012 12:23:48 PM PDT by DManA
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To: DManA

Maybe they paid a million for it (or otherwise have a $1M+ tax basis, e.g. from purchase price + added fixtures). But you are right in implying, “So what,” because obviously $1M is WAY over the true market value here, inasmuch as these sellers aren’t even getting low-ball offers.


8 posted on 09/04/2012 12:26:37 PM PDT by pogo101
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To: Impala64ssa

Get realistic on the price, and it will quickly sell.

An item is only worth what someone will pay, it matters not what the seller thinks it is worth.


9 posted on 09/04/2012 12:26:51 PM PDT by wrench
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To: oh8eleven

The solution is to lower the asking price. That is ALWAYS the answer but no seller want’s to hear that.


10 posted on 09/04/2012 12:32:52 PM PDT by DManA
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To: DManA

want’s = wants. I just can’t help it.


11 posted on 09/04/2012 12:33:34 PM PDT by DManA
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To: pogo101

Does the place have enough land to be largely sustainable (crops plus woodlot) (plus its own well and sewage)?


12 posted on 09/04/2012 12:37:02 PM PDT by Paladin2
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To: DManA; neverdem

I am surprised houses sold for that much to begin with

Orange County is probably the worst county in NY state to live in.

Orange County is too far from NYC to commute practically.
It’s also flat, open & ugly, so if you want the woods you move to the Catskills or Adirondacks not Orange County.

Also, they’ve been putting lots of welfare housing there and crime is going up. Middletown has always been a slum and Goshen is heading downhill fast.

If that wasn’t enough, the State police there are jack booted thug Nazis who pull everyone over.


13 posted on 09/04/2012 12:46:00 PM PDT by qam1 (There's been a huge party. All plates and the bottles are empty, all that's left is the bill to pay)
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To: wrench

And we have a winner!!!!!


14 posted on 09/04/2012 12:53:39 PM PDT by colinhester
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To: wrench

And we have a winner!!!!!


15 posted on 09/04/2012 12:54:37 PM PDT by colinhester
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To: wrench
An item is only worth what someone will pay, it matters not what the seller thinks it is worth.

My Dad used to say, "How much is a sick chicken worth?" to make that point.

16 posted on 09/04/2012 12:55:48 PM PDT by Tax-chick (A meal without wine is like ... breakfast.)
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To: Impala64ssa

I’ll bet the annual property taxes on this puppy are north of $25K. Of course, these would be sellers have been voting to keep their local incumbents in office since the Jurassic era, too.


17 posted on 09/04/2012 1:07:24 PM PDT by Eric Pode of Croydon
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To: Impala64ssa

Silly people...just need to move the house to the neighborhoods of the Lords and Masters...and their Court..

http://legendaryhomes.com/


18 posted on 09/04/2012 1:17:00 PM PDT by mo (If you understand, no explanation is needed. If you don't understand, no explanation is possible.)
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To: mo

I have my eye on a nice vacation house, directly on the ocean that has been for sale for 3 years...price has been cut 11 times so far and has dropped from $600K to now under $300K. I am taking a trip up later this month to look at it, and will probably offer around $220K...better to be a buyer than a seller in this market.


19 posted on 09/04/2012 1:40:39 PM PDT by qwerty1234
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To: DManA
The solution is to lower the asking price.
Bingo.
Few years ago, I had a neighbor who couldn't sell his house and refused to lower price.
He eventually rented it out to Section 8 scumbags who damned near destroyed the place.
Many repair dollars later, he sold it about 25% less than originally priced.
20 posted on 09/04/2012 1:46:31 PM PDT by oh8eleven (RVN '67-'68)
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To: Impala64ssa

During Obama’s next term he’ll be placing illegal aliens with large extended families in theses houses. Invite the rest of the family up from Guatemala or Mexico.I know one thing, they will take care of all the mowing, trimming and gardening themselves


21 posted on 09/04/2012 1:51:30 PM PDT by dennisw (Government be yo mamma - Re-elect Barack Obama)
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To: Impala64ssa

NY is a totally blue state. It is beset with every blue state rule and tax you can think of. Most of them are voted in by NYC and Long Island, people that have more cash than most because they live near such a major metropolitan area.

People who live upstate get the worst of both worlds. They don’t have the salaries, and they get whammed by all the regulations. From what I’ve seen of upstate (and I’ve seen plenty) much of it is populated by blue collar folks who live in a semi-rural area and yet struggle with the regs that wealthier elitist lib downstaters put on them. Frankly, parts of it seem permanently depressed.

This story does not surprise me at all.


22 posted on 09/04/2012 2:11:55 PM PDT by I still care (I miss my friends, bagels, and the NYC skyline - but not the taxes. I love the South.)
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To: Impala64ssa

BTW, I am familiar with Goshen. Think artsy hippie, Vermont - CA wannabes. It’s beautiful, but I would never live there.

When I visited several years ago, it was full of hate Bush bumperstickers and I saw a billboard on how Bush was killing Iraqi babies.


23 posted on 09/04/2012 2:14:29 PM PDT by I still care (I miss my friends, bagels, and the NYC skyline - but not the taxes. I love the South.)
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To: I still care

Were getting ready to move down south also. House prices and prop taxes were fairly reasonable here until about 10 years ago.


24 posted on 09/04/2012 4:28:45 PM PDT by Impala64ssa (You call me an islamophobe like it's a bad thing.)
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