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Monday, June 7, 2010

Cottage 2 Resale

We don't get many Catskill Farms resells - Gib McKean says the big resale point is after about 7 years of 2nd homeownership in the area, so a few of our homes are reaching that test age, remarkably.

The owner of this Cottage was asking 20% more than what she bought it for, now I think it's 10% - but either way, pretty complimentary to our homes considering what has happened to the real estate market univerally over the past 2. I would think asking what you paid would aggressive, but who am I?

But most remarkably, this price appreciation is on a home that the homeowner constantly emails me (and copies the whole office as if the 'public humiliation ploy' by a few of my early homeowners wasn't so 2008) that she hopes my other buyers don't experience the level of problems she has had with this house - And yet still, it's worth more than she paid for it. Remarkable. It's only fair that if this is a house full of problems, buyers should know this, realtors should disclose all the problems, and it should be reflected in the appraisal. Otherwise, lawsuit for misrepresentation.

And now I hear she is accusing two of the best realtors in the region of conspiring with me to use her home as a model to upsell possible clients to my other cottages. I mean, how bizarro for many reasons, but oh, let me count a few of them (although it's always good when outsiders see what we are confronted with at times).
First, Bill, David and me are more ethical than that.
2nd - I don't rely or really even use realtors. We've been selling our own houses for years - and are much better at it than the local real estate companies, who we stopped using years ago when they couldn't sell more than 2 or 3 a year in a good year.
3rd - We haven't kicked as much ass in this world-changing recession and real estate crash because of black magic, sleight of hand or deviousness. We sell homes because the homes are great, and we spend $5000 a month marketing, positioning and branding our homes - probably more than most real estate companies up here spend in a year.
But, in the end, Thanks John for the great text after his family's first weekend - and I paraphrase - "Totally Unf%^&$*Kingbelieveable".


  1. Chuck:

    We plan on selling our house as well.

    Things seem like they are going well - Glad to hear it!


  2. A few suggestions:
    1. highlight it's a Catskill Farms' home. We're the only ones selling anything.
    2. Set the price right the first time - $395k comes to mind based on the competition out there for 3 bedroom 2 baths homes of Farm 7 caliber. Don't fall into the 'I gotta have' trap - what you have to have is meaningless to a buyer.
    3. Keep it furnished and clean and mowed.
    4. Suggest the buyer finance through Ulster Savings, who has been getting a lot of deals done at good rates.

  3. Good feedback - Thank you!

  4. No problem Andrew. How is the family? Any additions lately?

    A little background - Andrew owns Farmhouse 7, our 7th home we built (now we have done 70), in the Barryville/Yulan area. He bought in Jan. 2006 and immediately had a leak that took me 6 months to figure out where the frick it was coming from. Oh, for the good old days of no money, no labor and limited experience.

    Trying times indeed. Glad they are past.

  5. Well, Chuck, I'm just impressed these days that a builder would even SPEND 6 months trying to find a leak in a house he'd just built! That's more than most will do.

  6. WOw, LB - that's a very nice comment. Most of our customers have never owned a home, so they have no idea how high we set the bar cause all they have ever experienced is a pretty good effort, even if it falls short by a long measure of perfection.

  7. Sorry, my computer cut off that previous comment before I could finish....
    What I was trying to say is I have great respect for the "height of your bar". Your builder-ethic stands out, in today's world. My genuine congrats to you.