I’m about three weeks into the home search now. Guess what I’ve discovered? It’s not really a buyer’s market. Don’t let anyone tell you otherwise. Yes, prices are lower than pre-burst and the rates are low. It’s still a good time to buy, but be prepared for some competition.

The Hyde Park house above is the one that got away. Well, that’s the Hudson River view from the house. Little did I know that it was all but gone when I looked at it. It had been on the market for a looonnng time, starting out at $325k and going down to $199k. It was taken off the market for awhile. My bet was that it wasn’t mortgageable with some extra apartments in the basement and attic and some perhaps illegal extensions.

Well, fast forward to me seeing it listed as “continue to show” and calling the list agent to find out how serious the offer is. Turns out it was the original deal that fell through and contracts are already drawn up. Ack, it was too good to be true for me anyway, that I find an awesome house after such a short time.

The house is right on the water and around the corner from the Vanderbilt Mansion. I pulled up two comps that weren’t exact comps because they were larger properties in better shape, but the prices were in the $600k’s and over $1m. Well, at least the people who got the place aren’t greedy investors like me. They intend on living there. I’m putting in a back up offer just in case the deal goes south again. Hey, ya never know. Gotta be in it to win it.

Then there was the ranch that smelled like dog shit within walking distance to the Village of Rhinebeck but still a very private country setting. This is something I still may consider. Obviously, it will need to be renovated. The problem is that it’s a short sale and that could drag on forever. In fact, I’m trying not to look at the short sales because I want to be working on something this summer, but there are a lot out there.

Looked at a bunch of other places in Rhinebeck. Mostly ranches in need of updating. One place for $140k in Red Hook/Milan that was a bit too far from civilization. The others were all too close to busy roads.

This Cold Spring short sale seemed perfect. A great farmhouse on 3 acres. What could be wrong? Right next to the recycling center which is on the premises of the old dump. That means on Saturdays and Sundays, half the town lines up to get rid of their bottles and cans.

The bargains are out there, my friends. You just can’t be so fussy like I am.