Market Glimpses

There’s some good, even surprising news here, along with some not-so-good news. Much depends on you, where you live, your financial situation, your wants and needs. Let’s ask some questions, and come up with some answers.

1)   How credit-worthy are you? Should your needs necessarily involve a lending institution; a strong credit score will be essential.

2)   How vital is the market? Nationally markets vary widely; ours is relatively strong, with median prices up some 6% over last year during the same period

3)   Are you looking for a vacation or ‘bargain’ home? We recently reported that sales for such properties were up significantly in 2011 and  – surprisingly- 41% of these sales were all- cash. Assuming you can afford to buy or can show a strong income profile, the investment of a lifetime both – in pleasure and financially – is likely readily available. But be advised: prices here are already up compared to last year during this period.

4)   Are you looking for a rental? Whether for a summer vacation or long term, these are in short supply- and rates are up. However, if you can remain flexible, some summer vacation rentals are still available. Stay in close touch with an agent here!

5)   I’ve heard that financing is now tougher for most buyers – is this true? Sadly, but understandably, yes. Bank demands have tightened, and buyers will have higher hurdles to get over. It is still worth moving forward in this buyer’s market.

Hope This has been helpful…

It was September 23, 1848, a cool and quiet day seemingly like any other – except to those who know our history well.  About 4:30 that day Abraham Lincoln arrived in Chatham.

His Presidency in the distant future, “Honest Abe” was traveling west on the Boston & Worcester Railroad along with Massachusetts Governor Seward – both having made speeches in Boston.

Disembarking briefly, the far-sighted Lincoln envisioned the growth of the Chatham “village to be” into an important rail link. He also foresaw the long-term agricultural potential of out gently rolling landscapes and those of the entire Hudson Valley as well.

Both prophesies proved correct. Even today, small organic farms are sprouting up to meet current wants and needs, while many of our early and earliest homes still stand, solid and proud.  Our contemporary homes often and easily pass muster as well, blending award-winning architecture with materials of the highest quality.

Just visit our website. Pick a comfortable price range and consider altogether new and intriguing possibilities – these created by extraordinary value plus an enhanced lifestyle, the two coupled with superior long-term investment potential.

All this awaits you, and we mean that…in all honesty.

Nowadays we hear this one question more and more – and still more. Are we there yet — has the housing market finally bottomed out? Answering that question fairly means more than just following a Media known for its appetite for negative  news.

It means looking past that Media to many positive developments in recent months that have often gone unreported altogether. In fact, all major indicators suggest we have more than hit bottom — we may be on the way back up. Good news indeed, and backed by reliable evidence.

One supporting example: sales of existing homes nationally over the past six months have increased 13% compared to the same period last year. Still another indicator: the rate of foreclosures and short sales has begun to slow down, thereby reducing the amount of existing inventory.

Historically low prices and interest rates have created a remarkable buyers market in many areas, and a lot of smart money is now moving in a positive direction.

While it’s perhaps a little early to start celebrating, a gentle smile would seem quite appropriate.

The history of the village of Chatham has always been a very interesting one. The clock tower at One Main street has often been the landmark feature that has come to be considered by many as the symbol of Chatham.

After a fire in 1869 had destroyed a good portion of main street, this unique structure was rebuilt in 1872 by William Woodbridge. At one time, Woodbridge sold the building to the village for $5000, where it served as the town hall, the police court, & also the home of the Chatham fire company.

That was then, today it still stands as the village of Chatham’s center piece, standing proudly at the start of main street. It last sold in August of 2010, for $230,000, that’s quite an impressive increase in value since those earlier days.

That’s part of the reason my faith continues in the long term investing of Real Estate. Check out our website to see  what long term investments you can make.

Our thanks for input & Photo from the Chatham Historical Society. Call (518)392-9236.

New York State law requires all licensed Real Estate Agents & Brokers to advise in writing to all potential buyers, sellers, tenants, & landlords of residential properties, who they will be representing in any subsequent transaction. This requirement is to be done at the first substantive meeting of the parties. Despite all the written material on this subject I find it amazing that many consumers are still unaware of the options and choices they have when choosing a Real Estate professional. Quite often, a decision on purchasing a home may be one of the most important ones we will make in our lifetimes. You need to become an educated consumer, learn all you can about your choices. For example, learn how you can have your own agent, one who will work on your behalf.  You owe it to yourself.

In 1841 Chatham became a major pivot point for Railroad traffic throughout the Region. With the completion of the present station in 1887 — appropriately dubbed the ‘Union Station’– Its importance would grow for a century and more.

Along the way, It also revealed the beauty and fertility of our Land, a glowing reputation the Hudson Valley enjoys to this very day.

It did seemed magical when, in1909, the first  ‘milk train’ left Union Station…hauling some 20 tanker cars of unsurpassed ‘fresh local milk’ to serve the needs of New York City. A remarkable tribute to our farmers and Land alike, it became a daily event for decades to come.

Today, a secure and private lifestyle occupies the County. Ancient farmsteads share space with dramatic Contemporary homes. Small organic farms are springing up, on acreage still beautiful, still unspoiled. – yet as always surprisingly affordable. Whether viewed as building sites or already carrying a fine home, our Land – Columbia County – has a very special ‘spin’.

Review our web site. Consider the prices, the sheer value…and you may well want to create a ‘magical moment’ of your own.

Our thanks for input & Photo from the Chatham Historical Society. Call (518)392-9236.

There was a time – not all that long ago – when a personal relationship and a handshake would pretty much guarantee gaining ‘credit’. From about 1960 on, though, the need to gather, appraise and quantify information about personal credit use (and misuse) grew like topsy — and the one tool making this analysis possible…was the Computer.

Today, one’s ‘price of admission’ to many purchases is based entirely on one’s ‘credit score’. The larger the purchase – such as a home – the closer the scrutiny, the higher the standard. We’re not sure this is ‘progress’, but we are sure it is Reality…and a system you must understand and protect. An estimated 75% of all lenders use your credit score to evaluate your loan applications. A numerical calculation, it is a summary of your entire credit history. Comprised of a number between 300 & 850, the higher that number, the greater your chance of being approved.

But how is this number determined? About 35% is based on your credit history, examples being how many times you missed a payment, or were late. Another about-30% relates to how much you currently owe, as against the amount of credit you have available. Another 15% reflects how long you have had credit with existing accounts, the longer being the better, while about 10% of your score is based on how recently you’ve opened new lines of credit. Today your ‘credit standing’ is more important than ever, as it often spells the difference between success and failure for your goals. Be careful how you use it and, above all, don’t abuse it.

You will almost certainly need it more than you know.

Chatham had been identified as a “Central Regional Location” by the Railroads in the 1830s, but it was1869 – its year of incorporation as Chatham Village – that a dumbstruck crowd actually beheld a mob of elephants right here on Main Street.

A Circus Train had arrived, and stopped…confronted by the intricate wooden trestle* then leading into the Village. Taking exception to this seemingly rickety structure, the elephants’ violent reaction threatened to collapse the trestle altogether! With that, each was off-loaded and led into the Village, re-boarding once the trestle had been cleared…and roll off into history.

Our ‘central’ location has been a growing lure ever since, the County today offering quick, easy access to the Capitol Region, New York and Boston – plus all the joys of secure country living.  Always affordable, homes here remain remarkably so. Like to take a tour? No need for a Circus Train – just a computer tapped into beachandbartolo.com.

Our thanks for input & Photo from the Chatham Historical Society. Call (518)392-9236.

Perhaps it all started when the Club Helsinki opened its doors, giving once-sleepy Hudson the beginnings of a vital new dimension.

For many years this small city was notable mostly as a major Antiques center. In recent years increasingly fine – even City class – restaurants began popping up, as have a handful of art galleries.  And now comes…the ‘Sound of Music’, and a kind of rhythm simply not heard here before.

Today, famous Rock band members most often seen in such as the Big Apple, Las Vegas or L.A. are now showing up in the ever-more-happening city of Hudson.  Just one example that comes to mind is Tommy Stinson, a member of the iconic Guns & Roses band, who now calls Hudson home for he and his family.

Always a small city but equally one with an amazingly diverse history, Hudson is now in the process of staking a powerful artistic claim to the 21st Century. Come take a long look.  Go antiquing…have some dinner…catch some music…and you might well wonder if, just maybe, Hudson is now a place where you can imagine putting down your stakes.

Each month we present here a fascinating, often little known aspect of Chatham’s history or that of Columbia County — as drawn from our monthly ads in the Chatham Press.

Once upon a time – the 1890′s – the huge brick building just off the Central Square was a very, very Grand Affair.

Dubbed the Windsor Hotel Sanitarium, this magnificent structure reminded one of a fancy wedding cake.  Four stories tall with proud pergola atop, the first three were girdled all ‘round by dramatic porches much in the ‘Steamboat Gothic’ style.

It was founded by Doctor-brothers C.H. and Abbott Mason, the latter famous for his ‘Vegetable Cancer Cure’…which was not known to have cured anything.

The Windsor flourished nonetheless . Its 50 spacious rooms ($2 -$3 per day) were Hotel for  Railroad Agents and travelers, most being Permanent Residences for‘inmates’ whose severe afflictions were largely emotional. A ‘sanitarium’ indeed.

The Windsor and accompanying land likely cost about $60,000 – a major bargain when compared with the Berkshires next door. This same disparity exists to this very day. Properties have remained very affordable in Chatham and the County, astonishingly so now in the present economy.

For those with a ‘dollar and a dream’, it’s a perfect time to review your bargain opportunities – on our web site beachandbartolo.com.

Our thanks for input from the Chatham Historical Society. Call (518)392-9236.

Photo courtesy of MetzWood Harder Insurance.