The Times Herald Record reports large home sale increases in Sullivan, Ulster, and Orange County. This overview presents a few points about the increase and factors holding back local economies. Perhaps the two largest determinants are jobs and taxes. Reduce taxes, create jobs. Although easy to write and talk about, it’s far more difficult to accomplish.
Our area is finally enjoying some fruits of a better national economy, improvement in lending to application ratios, and seller price capitulation. Selling prices are more in line with market realities and foreclosures still factor into median prices which have declined–that’s good for buyers, not so for sellers.
Resort/Casino development continues to be the leading edge of interest in Sullivan County. Neighboring Orange and Ulster continue to create a commuting area whereby metropolitan folks make the trip into Penn Station via train or brave the 17/86/87 corridor. The extension of bedroom communities is a long time trend and will continue for the foreseeable future.
All in all and for the moment, Sullivan Orange & Ulster are places to consider if you want to beat the rat race. Consider allowing us to offer guidance for your next move up to the country. Thanks.