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