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Sunday, November 18, 2007

Busy Saturday and Market Profile

Wow - who would know that a major real estate and mortgage crisis is on hand? Saturday was a good day for Catskill Farms, signing up a gentleman for our first mini-house at $195k, and most likely signing up Anna and Pablo for a cottage on 5 acres (we sold all our land so we are looking for more).

If you lost count, CF now has a 5 house waiting list, which should give some comfort to the entire Catskill Farms family. It's an enviable position for us all - owning real value, - that appreciates ahead of the market and depreciates behind it - in front of the fire, drink in hand - a toast to good long-term decisions the entire family has made.

When the market was overheated, realtors were arrogant, tradesmen non-committal, and the entire sales process bogged down by too much activity. Now, I get 5 calls a week from people looking for work (good people), realtors are bombarding us with listings to buy, land is becoming more reasonably priced.

At the moment, CF is negotiating to buy a bus garage in eldred, where we would hope to build storage units and build out the large garage into lofty open office space, so small businesses have a place to go when they out grow the garage and basement.

We are also actively looking and buying small and large parcels of land (we are still a small business so large overpriced parcels are still out of our reach). We hope to buy the entire price slide down, so we can continue to offer affordable getaways at all price points.