REAL ESTATE Archives - Page 5 of 26

The $200k Challenge:OC

March 30, 2012 RH

Orange County covers a fairly large area. There is definitely an assortment of homes that can be had not only for under $200k, but even under $100k. Think Newburgh and Middletown for those extremely affordable houses.

Before you run up there to find your inexpensive dream home, a few things…

Taxes are pretty high in Orange County. Like as high as New Jersey high. The fact is, taxes are always higher in the burbs than in the city, but from what I’ve seen, Orange is worse than Dutchess and Ulster.

The good news is that Metro North does run on the west side of the Hudson. There are limited stops to Port Jervis, but it will still take you nearly 2 hours to get from Penn Station to Middletown. An every day commute can set you back about $300 per month.

Although there are plenty of second homes in Orange, it seems to be more of a commuter community. Lots of cops and firefighters living up there so it’s a pretty safe place to be.

The homes that I looked at this week were in Cornwall on Hudson. Really pretty area near Storm King. The town is cute but not much was going on the day I went up. I should let you know that there were also affordable listings in Highland Falls which is right near West Point.

The house above is listed at $150k. It needs work and plenty of it, but location, location, location! It’s more of a suburban area than private country location, but it’s within walking distance to town and has killer views of the river on the block. Should I go ahead and assume that the 1922 structure was a barn or horse stalls at one point? It looks like it.

There are wide plank floors throughout but the wavy gravy walls and ceilings need to go. (The house isn’t leaning, I was too lazy to fix my lens distortion.)

This one is interesting. Listed at $199,734. It sits on over 2 acres of private land. Really close to 9W but you wouldn’t know it. The thing with this house is that it’s an unfinished renovation. Everything has been roughed in, but at over 2000 square feet, materials will be too costly for my budget. How about you? Could be worth it. Taxes are $13k. Told ya.

Technical Difficulties

March 22, 2012 RH

Good morning. Cat chewed through Mac charger so my main computer is dead at the moment. Husband’s borrowed laptop has a split screen. What’s with that? Writing this from a first edition iPad. Boy, do these suck! iPhone posts are no fun. Know what that means? No posts until I get my charger!

Have a nice day.

Under $100k in Warwick

March 15, 2012 RH

Check out this too-good-to-be-true place in Warwick. Of course the $75k asking price has people bidding against each other. It’s not a short sale and when I looked at it, there was nothing apparent to the eye that was a deal breaker. It just needs some work to finish up the renovation that someone started. Nice location and decent property.

When I called the list agent to find out what the deal is, I found out that it may not be such a deal after all. Or maybe it is, but delving into the problems would be uncharted territory for me.

The home currently has no running water. The seller tells the agent that it’s a broken pipe but let’s assume the worst and figure on drilling a whole new well. Just in case. Furthermore, the septic system is a mess. Worst case scenario, let’s say it needs a new one. The owner also thought he would save on the price of oil, so he installed a coal heating system. Coal? Who does that?

Ok, so those are the big issues. I was almost tempted to check out prices on those items but as of last week there were seven offers on the table, above ask, so I just didn’t bother.

Nice house though. Someone who knows a thing or two about something other than city sewer and water is gonna steal this baby for a song.

$200k Challange: Putnam/Dutchess

March 13, 2012 RH

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.

The $200k House Challenge

March 8, 2012 RH 6 Comments

You have $200k to spend on a home within 2 hours of NYC, including renovations. Where would you look?

As mentioned before, I’m in search of a flip. I could put myself into debt for a year and not be able to afford pet food or even human food but I’d rather not, so I’m sticking to a budget of $200k. Yeah, I know. It ain’t gonna be in Brooklyn. Not even split with a partner. Not even a one bedroom apartment in a fringe neighborhood.

After searching for about a month, here’s what I’ve learned…

You want to own a home in the boroughs for $200k? It’s possible. There are homes in crappy parts of Bushwick, Jamaica and East New York. Actually, pretty difficult to come by houses for under $300k, but short sales exist. If you’re purchasing a short sale, be prepared to have it drag on for close to a year.

Saw a couple of listings out on The Island. Riverhead and Central Islip. A friend from The Island wasn’t too impressed with those locations. Saw quite a few listings in Jersey City and Newark, especially Newark. No, the JC listings were not prime JC.

So, what’s the best bet for finding a home for under $200k (Oh, did I mention that INCLUDES renovations?)? Upstate. Whether it be commuter location or second home, the houses exist. Saw a bunch in Rhinebeck and one in Hyde Park that I may put an offer on, but it will only be back up as someone got to it first. Bastards.

Today I’m heading up to Warwick. That’s a commuter area and there are about 4-5 listings to look at. It’s promising.

So, you want a house on a small budget? You can do it. As long as you’re not a whiny douche like this guy.

Last Train to Clarksville

March 6, 2012 RH

If you take the last train to Clarksville, NY you’ll get to Albany. Have someone meet you at the station because the little hamlet of Clarksville is about 12 miles west of the State Capitol.

What is there in Clarksville? Caves! 4800 feet of passage. Worth a visit just for that. Stop at Jake Moon Restaurant Cafe for lunch. Ok, that’s about all there is to see in Clarksville itself, but there are other nearby towns and did I mention that Albany is only 12 miles away?

I couldn’t pull up any Clarksville home listings but here’s what you can find close by.

Farmhouse with barn on a little over an acre. Both need work. $65k.

Ooh. A 151 year old farmhouse on fifty acres with a pond in nearby Delmar! Sounds great! $250k.

Newer construction in New Scotland. Over 12 acres of property. $ 264,900.

Another Pleasant Valley Sunday

March 5, 2012 RH

Pleasant Valley is located about 8 miles from Millbrook and 7 miles from Poughkeepsie along Route 44 in Dutchess County. The quiet suburural town was formed in 1821. Like any quaint town, it’s got it’s department store, it’s purple restaurant and it’s ladies consignment shop. There are also some lovely parks for reflection and hiking.

But let’s talk real estate. Link to all listings here.

This three bedroom ranch is less than 1000 square feet and needs work. The asking price is $45k.

$105k will buy you a renovated cape right on Main Street.

Updated 1920 two bedroom cottage on 1/2 acre overlooking Wappingers Creek. $164,500.

There’s a house that goes with this barn. A 2500 square foot antique house that sits on 12.75 acres. It’s quite charming too! Price? $419k.

Rockin the Rockaways

March 2, 2012 RH 4 Comments

File this under that old “Affordable Neighborhood” series I used to do, but I liked this title better. If you take the A train allll the way out to the end of the line, you’re in Far Rockaway. A few stops closer to the city, well that’s just Rockaway. Get it?

I explored near and far yesterday. The nicer areas of Neponsit, Belle Harbor, etc feel pretty suburban. The main shopping strip is around 116th Street and the summer hipster surf dude neighborhood is somewhere in the Beach 90’s. I looked at a house on the fringe of that area, in the mid 80’s. The asking price is $168k and the house is in really good condition.

As an immediate flip property, it’s probably not the best solution. The neighborhood still has a few years to go and I’m too impatient to hang on that long. As somewhere to live? Not too shabby. The house is within walking distance to the train, shopping and the beach. Much of the original detail remains. Rip up some carpet to reveal wood floors and strip all the molding and doors. Fix some plaster. Done. FYI, the home is semi attached and the area still does have some grit.

I was looking for signs of people restoring homes, but there isn’t too much of that going on. It’s mostly either properties that have seen better days or brand new developments. One place that I did fall in love with was this cute bungalow around the corner from the house I looked at. Someone did an amazing job here.

If you’re checking out the Rockaways to live, you’ll notice some extremely affordable areas from the 40’s to the 60’s. Yeah, there’s a reason. It’s pretty depressing around there. Once you go farther out, somewhere past the 20’s, it looks like any other part of Queens with some nice homes and pre-war apartment buildings.

Thinking of living there? Do check it out on a cold and rainy winter weekday. Everything is hopping in the middle of the summer, but what happens when the hipster doofuses run back to Williamsburg?

See photos below of the $168k house and the cute bungalow not for sale.

The original woodwork is throughout the entire house. Looks 1920’s Craftsman style to me. Like I sez, picture all of the wood stripped and wood floors. The doors and light fixtures are original.

How cute are these kitchen cabinets? Some schmuck will probably come in here and throw these in the dumpster while updating the kitchen.

Yes, there is a bar in the basement! And yes, it’s made out of a recycled door.

Behind the bar. I assume these come with the house.

The upstairs bathrooms are original and in good shape, but this unused one in the basement is da bomb! I’m tellin ya, I could’ve lived in that basement.

The adorable bungalow around the corner. Looks like they used lots of reclaimed material and that siding is corrugated steel. Watch for me to steal that idea if I have to re-side a frame house in the future.

Rockaway Bungalows

February 29, 2012 RH

The Bungalows of Rockaway trailer from Jennifer Callahan on Vimeo.

In researching The Rockaways for a possible investment property, I came across this documentary made a few years back. My bungalow obsession + not having to schlep all the way upstate to renovate = What could be better? Maybe the location of the bungalows. Apparently there’s a bit of urban blight going on in that part of Rockaway.

But supposedly it’s a Hipsta’s Paradise over in the higher number streets. Checking it out on Thursday. Will report back.

Shit Realtors Say

February 28, 2012 RH 1 Comment

Preserve Bed Stuy

February 27, 2012 RH

This home was listed as having “historic details” on the Craigslist ad. Perhaps they meant the one mirror.

This one goes out to all of the real estate investors, flippers and brokers. Stop the insanity in Bed Stuy! Yes, yes, I’m guilty of looking for an investment property to flip myself. What sets me apart from these bozos is that I aim to preserve the historic value of the home and respect the community. The state of the market in Bed Stuy isn’t suitable for my needs right now because all I’m seeing is crap renovations.

Flashback to six years ago when I was looking for my own place to live here. The beautiful thing about these brownstones was that they had so much detail still intact. During the “do or die” years people weren’t gutting their homes. Now that Bed Stuy is suddenly getting popular, it’s hard to find a place that needs some tender lovin’ care.

The prices aren’t bad for these gut jobs and one can always add detail. The thing is, I would never trust these fast-n-cheap flippers to do the right thing. What do you think is lurking behind those new walls and floors? Do you think they replaced rotting wood and pointed the bricks properly? Maybe. But you never know. I kind of doubt their integrity.

Listen you guys, leave some homes left for those folks who don’t want glossy oak floors and Home Depot light fixtures. Your cookie cutter shite doesn’t cut it with everyone. Seriously, people will pay more for plaster detail than new sheetrock. They’ll pay more for that gorgeous pier mirror and mantel that you’re dumping in the trash. They’ll pay more for the pocket doors that are lying in your dumpster out front.

I know they will. I’m one of those people.

Now run along and rape some other neighborhood with yucky housing stock. I hear that Long Islanders like shiny, new things.

Under $100k For A Bungalow Colony?

February 21, 2012 RH 2 Comments

Yes, that’s right. A six unit bungalow colony is up for sale for $93,900. The buildings sit on 5.45 acres in Kerhonkson, which is actually more desirable than most colony locations. Kerhonkson is Ulster County, close to Minnewaska State Park and Stone Ridge/High Falls/Rosendale.

The 1940’s bungalows are listed to be in “fair condition”. Sounds too good to be true? Well, yeah, it is. Maybe.

Most of the structures do not look to be in salvageable condition, so really, you’re buying the property. My thoughts on empty property lot vs. tear down is as follows: I’m figuring that the electric, water, gas and sewage lines are already run with a preexisting colony. Many places we saw had propane and the lines may need updating, but am I wrong in thinking it’s still easier than starting from scratch?

Pop some cute pre-fab cottages in or vintage air streams and you’ve got yourself a colony…right around the corner from the Hudson Valley Resort and Spa.

*Photo help from Miss Wit

Romantic Poop Plant Tour

February 14, 2012 RH 1 Comment

Looking for a romantic date to impress your loved one? Why not a waste water treatment facility? The DEP is giving Valentine’s Day tours of Newtown Creek today and yes, it’s popular.

The hubby works at Newtown Creek as a project manager on some decking job. He keeps promising a tour, but nothing has materialized, so maybe you’ll get to see it before me.

I do know that the “eggs” are most beautiful in the dark when the blue lights are a-glowin’.

What $345k Buys in Crown Heights

February 2, 2012 RH 4 Comments

As we search for a home to restore and exchange (flip) we’ll be passing along the ones we decided against. This Albany Avenue single family is a bank owned property listed at $345k.

The photos speak volumes. The home is loaded with details! The ornate wood molding, 5 fireplaces (I believe some slate and some wood). Medallions. Doors and hardware. Stained glass. Original shutters.

So what’s the catch? Well, obviously it needs work. That’s a given. It’s currently being used as an illegal 3 family and that won’t fly with a mortgage. Two kitchens will have to be ripped out, but you can still mortgage it. And that’s ok, because there’s nothing special about the kitchens or baths anyway.

The biggest drawback for us was location, location, location. It’s right across the street from the projects. Now, that might not be an issue for someone looking to move in or rent it out, but since we’re only concerned with resale value, it’s a big deal for us as an investment.

So, we passed. Would it work for you? Check out the listing here.

RIP Holiday Cocktail Lounge

January 30, 2012 RH 1 Comment

Holiday Cocktail Lounge closed it’s doors for the last time on Saturday night (early Sunday morning). Original owner Stefan Lutak died in 2009 and everyone knew it was only a matter of time before the building was sold. Stefan’s sons George and Roman had differing opinions on the future of the bar, but neither one of them wanted to run the place.

Since Holiday was where I spent much of my time during the mid 80’s to early 90’s and since it was where I met my husband of 23 years, we couldn’t let it disappear without one last drink.

We weren’t the only ones who felt that way. The place was packed as people lined up outside. Multiple generations of Holiday patrons came back to toast the 47 year old bar that spurred numerous relationships. Seven of us from the old days grabbed a booth in the corner. We ran into several other people from back in the day. It was indeed like a reunion.

Roman Lutak was there all night, looking sad and relieved at the same time. The only thing missing was former bouncer Walter.

Holiday was set to remain open until 4am and we intended to stay until they locked the doors, like we had done so many nights before. Unfortunately, a rowdy bunch of folks were getting aggressive with each other and they chased everyone out by 3am.

In our seven years of being there most nights of the week, we had never seen a fight break out. Roman said the same thing as we were leaving.

It should not have ended that way.

A toast to The Holiday in any case. Even though we grew up and moved on, it was always a comfort to know you were there. You will be missed.

1987/2012. Same booth.

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