Special Edition

Deal Breakers and Makers

July, 2022

Hello all,

The market has seen a drop in buyers, but still enough for multiple offers to continue on solidly priced and effectively marketed properties. For the first time since the start of Covid, I took the drivers seat from a listing agent and was granted a wait on decision with a home holding a singular offer (only one!) after a weekend on the market for my clients to have the opportunity to see in the calmer fashion of yesteryear.

I shared question in the June edition about impending stats after the dramatic rise in interest rates in recent months with the second week in June seeing a hike of over a half a percentage in one week alone. I just caught a glimpse of a stat circling around June.

According to a new report from Redfin, homebuyers are canceling deals at the highest rate since the start of Covid to the tune of 60,000 cancelled nationwide in June, 2022 or about 14.9%. To share perspective, the initial shutdown months of March and April, 2020 saw the height of deal cancellations of approximately 17%. Not that far off in June.

So far, knock on wood, none of my deals have gone back on market since the start of Covid. I'm anal about counseling my clients through buyer selection which I believe has helped to keep deal breakdowns at bay. Sign of things to come? As I've shared before, this market is day by day.

INVESTMENT OPPORTUNITY!

Lifestyle Meets Living

@ Spring Lake Cottages

571-585 Spring Lake Road

Red Hook, New York

Town of Milan

Four lakefront cottages featuring six long term rental units in a salivation worthy setting. Less than ten minutes from the Village of Red Hook and fifteen minutes from Rhinebeck, yet watch eagles bathe and osprey take respite from your deck.

Priced at approximately 7% cap and fully occupied with last vacancy drawing interest from over 100 potential tenants. Dependent on vision, this could roll as is with seamless net income or take resort style long term rental living to the next level.

To get a better feel for the property and the cottages, take a two minute tour with me above the pics. Although it fast tracked me to calorie counting, I'm quite pleased with that video. See full listing here. Contact me for survey, expenses and other supporting documentation and to schedule your private showing.

It takes a village...

Photographer/videographers are an integral facet of property sales, or at least they should be. I find support of talented photographers essential and chose my photographers with care.

The property can be priced solid with copy that captures the target audience, but the pictures can either solidify the story or disconnect and fall flat. It's important to capture the essence of a property. Every property has an essence, whether modest or luxury. The goal is consistent harmony between marketing voice and photography, which then strengthens the efforts of both.

Hats off to my talented team of photographers for never letting me down. I credit your talent as a solid contributor to the returns I consistently yield for my clients.

Red Hook Respite

Quiet and private neighborhood location near dead end. Minutes to the Village of Red Hook. Red Hook schools.

This 3,000 square foot open flow beauty features custom screened porch, updated eat in kitchen, sunroom, four bedrooms, gleaming hardwood floors and 1,000 square foot basement. The setting is bucolic and private. Pool site, if desired. Coming on the market this week. $574,000.

More to come! Follow on Instagram for the latest @hudsonvalleynest

IN CONTRACT

51 Stratford Lane, Wappingers Falls

Townhouse style @The Regency

by Toll Brothers

This sale will likely set a record for the highest non-end unit sale in The Regency (yes, it's selling for noticeably over asking.)

My clients are happy campers not only with the return, but also with the timing. The buyers terms aligned perfectly to provide a smooth transition for my clients with their impending purchase that I also helped them with (and secured under ask ;)

Asking price was $569,000. See full listing for more.

1262 Turkey Hill Road, Red Hook

Cabin in the Woods

I have worked with this client for some time now on different properties. I sold one of his prior residences in the City of Poughkeepsie in the early part of Covid. That beautiful manor home in the south side of Poughkeepsie is still holding the record for highest sale in the City of Poughkeepsie for over 15 years. If you're interested in a two minute tour, here's the video.

In this instance, I represented my client in buyer capacity. We had looked for nearly a year. We licked our wounds from multiple bidding wars, at times bidding painfully over the ask and still not securing the residence. This home checked his boxes and we nailed it!

92 Thornhill Road, Pleasant Valley

We are a hair away from fully executed and I don't want to jinx it so I'll just say it was multiple offers and will be selling over ask.

Click here for link to full listing.

170 Delaware Avenue, Kingston

This one had the level of interest during early Covid. Back to back showings from 9-6pm throughout the weekend and a few days before and beyond before we had to close it down before driving the tenant batty. Multiple offers. About to fully execute. Selling noticeably over asking.

See full listing here.

Latest Luxury

The highest sale in the past few months goes to Clinton Corners. Click here to see the listing. The ultra high luxury are still sitting on the shelf.

Testimonial

"I would not work with anyone else." J. Glassman

Exhale

I just took a little break last week. So important to take moments of exhale. This time around, I took it for real and only a few times did the "phone sneak." Other than that, it was all about chilling with the kiddos. Albeit, making up for it in spades this week. lol.

Wishing all well and a happy and enjoyable summer.

Best,

Sandi

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Sandi Park

Associate Real Estate Broker

Global Luxury Specialist

Coldwell Banker Realty & Global Luxury

M: 914-522-6282

Email: spark@hudsonvalleynest.com

Serving the Mid Hudson Valley and Global Luxury Markets