Monroe, NY Real Estate News

By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
What would a 4th of July Festival be without fireworks?   Incomplete, that's what!   In Monroe, NY, the 4th of July event will be complete!   When Friday the 4th of July, with a rain date of July 5th.   What An Independence Day festival that starts at 6pm, runs through 9:30, with a fireworks display at dusk (sunset is at 8:33pm).   Where Lake Street at the Millponds (also known as Goose Ponds or Crane Park).   To get there, take the NY State Thruway (I-87) to Exit 16, then take 17-W to Exit 130.  At the end of exit ramp, make a left on Route 208, then bear right to stay on Route 208.  Make a left on 17M and the park is on your left.     If you are able to make it, enjoy your 2014 Monroe, NY fireworks!  
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
For at least a year, there have been reports of reduced inventory in the national real estate market.  As inventory decreases, prices begin increasing; the old law of supply and demand.  As I last indicated in the third quarter of 2013, inventory in Monroe NY had not yet caught up with national averages, and was not shrinking. Has anything changed now that we are a quarter of the way through 2014?  Is the inventory of available homes beginning to decline in Monroe NY yet?   YES!  I have not been tracking this information monthly (although I will start to do so going forward) and can't go back to determine how many homes were for sale in the past twelve months, but I do have a few data points as indicated in the first chart.   This chart indicates that since July of last year, inventory ...
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
The Better Homes & Gardens Rand Realty Spring 2014 Events Guide is ready!   This guide provides information on things to do in the Orange County area, as well as in the surrounding counties of Dutchess, Putnam, Rockland, Sullivan, Ulster, Westchester, and Northern New Jersey.  Activities include high school shows and theater, music, parades, brunch, street fairs, charity events and more.   For the full list of things to do, click on the Event Guides cover page.   Enjoy!
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
One of the questions home sellers may ask is, "How long will it take to sell my house?"   The answer is a murky, "It depends."   There is no way to be more specific.   The amount of time from the listing of a home to the closing depends on whether the home is priced properly, presented and marketed well, and is accessible to buyers who want to see it.   It also depends on whether the right buyer is out there looking at the same time the seller is selling their home; the right buyer being one who not only loves the house but will be able to obtain a mortgage or will have enough cash to purchase the home.  So there are multiple factors that go into the final equation as to how long it takes to sell a house.   That being said, statistics from our local MLS system show how long it has been ...
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
As I shared recently in my Monroe NY 4Q12-4Q13 results, the average sale prices in Monroe bopped up and down last year, but overall, prices did slowly inch northward, ending the year with a very small price increase.  That is of course encouraging news for sellers.  In addition, while prices were rising, the number of sales were healthy, rising 14% in 2013 over 2012.  So what kind of homes can a buyer find in Monroe, NY?  And how fast are those homes selling?   What size homes do Monroe buyers purchase? More than half the buyers who move into Monroe (or already are in Monroe and are moving up), purchased large homes.  60% of home buyers purchased homes that had 4 bedrooms or more, and those homes sold at an average price of $343K.    What type of homes do Monroe buyers prefer? 47% of al...
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
I recently shared my feelings about a local Irish restaurant, Rambler's Rest.   But what if you were interested in having Italian food for dinner, but you didn't want to eat at a restaurant.  Whatever would you do in the Monroe NY area?   Well, you need to look no further than "The Best of Little Italy," a local store that specializes in just about any Italian foods or specialties.  The delightful smell of all that is Italian greets you upon entering the store, which is located in the ShopRite plaza on Route 17M in Monroe.  And I'm not alone in my praises!  All you need to do is drive to the store on a holiday and see the constant stream of customers, and lines that loop around the store.   So what's so great about The Best of Little Italy?  Everything!   Having friends over for a barbe...
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
No matter where you go in the world, you can find an Irish Restaurant and Pub.  It's one of those laws, like Murphy's Law.   Some of the Irish restaurants are good, and some not, but they are everywhere!  Look it up!  In Gibraltar, they have O'Reilly's and The Clipper.  In Afghanistan, there's the Irish Pub of Kabul (yes!!!) and in Moscow, the Shamrock Irish Bar.  Anywhere you are going is BOUND to have an Irish restaurant and bar.   So what about Monroe NY?  Anything here that might resemble an Irish Bar & Restaurant?   YES!!!!!   It's called Ramblers Bar and Restaurant, and it's located on Route 208, right off Route 17.  It's convenient, and it's awesome!   Why?   The food is yummy!  Shepherd's Pie, Fish & Chips, Cornbeef & Cabbage, Bangers and Mash. Whatever you might want, Irish or ...
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
The most often asked question about the Monroe, NY Real Estate Market is whether sales prices are increasing.  Monroe was lagging behind national trends last year.  When countrywide trends indicated a healthy spike in prices, unfortunately, Monroe was staying flat.  In addition, recent reports indicate the Orange County NY area has been remaining relatively flat as well in terms of prices.  So the question is, has anything changed in 2013 for the Monroe area?  Are prices finally rising?   Yes, they are, which is good news for sellers, and should be impetus for buyers who have been on the fence about buying.  However, the increase hasn't been huge, but the trend is a steady upward one.   The dotted line shows the trend of sales prices.  As can be seen by the quarterly results, however, p...
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
The Better Homes & Gardens Rand Realty 4Q13 Market Report is available!   This quarterly report covers Orange County (including Monroe) and the following Hudson Valley counties:  Dutchess, Putnam, Rockland and Westchester.     While real estate is very local, in general, the Hudson Valley area has seen increased sales volumes and a very slight increase in market pricing.     You may click on the picture on the left to read the full report.  Please keep in mind that the data is compiled at a county level, and while a specific county may or may not be seeing price increases and volume increases, each town within that county may be reacting differently.   For example, my Monroe NY market report, through November 30th, showed a fairly significant increase in price trends, while the attached...
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
It's time to update the garbage pickup schedules for 2014 in the Monroe NY area. Following are the official schedules for the Towns of Monroe, Tuxedo, Chester and the Village of Monroe. The official sites are listed on the bottom for more information and contact numbers.   MONROE (Town) Tuesday: Regular household garbage pickup. Wednesday: Recylables. Bins can be picked up from the Town Highway Garage at 87 Mine Road. The Recycling pickup includes co-mingled (tin, aluminum, foil, plastic containers & cartons) and mixed papers. Paper and co-mingled can now be combined. Friday: Regular household pickup AND one bulk/large item will be picked up. This cannot include construction/renovation debris, tires, computer equipment or TVs but can include furniture, hot water heater, etc. The bulk pi...
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
The Monroe NY winter festival is imminent!   A week ago, the weather was warm (a balmy 70 degrees!) so the Winter Festival originally scheduled for December 21st was postponed.     The Festival, the village's first Winter Festival Celebration, will be held this Saturday, December 28th from 2pm to 6pm at Lake Street between the Millponds.   The festival organizers are promising crafts, holiday caroling, hayrides, hot chocolate, goodies, a bonfire and ice skating if the ice is hard enough by then (the picture was taken this morning and I think the lake needs a few more cold days!).    The festival and events are free of charge, although the village will be accepting canned and boxed goods that will be distributed to local food pantries.   If you will be near Monroe, NY in Orange County on...
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
In the 1800s, Monroe NY was a hotbed for mining ore. It was the perfect location for mining because the rocks contained magnetite, a form of iron oxide with a high content of iron that could be mined easily. There were nearly unlimited quantities of wood available to make charcoal fuel. In addition, the area was lush with streams to provide the power required for sawmills and was close to the Hudson River for transport.   Typically, at that time, furnaces were made of stone and brick and were located near strong water sources at the foot of a hill. A bridge was built across to the top of the furnace to feed the furnace with fuel. Early furnaces were about 25 feet at the base and in height, and in later years, they could reach 55 feet in height.   Evidence of Monroe's mining activity can...
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
The most often asked question about the Monroe, NY Real Estate Market is whether sales prices are increasing.  Monroe was lagging behind national trends last year; when countrywide trends indicated a healthy spike in prices, unfortunately, Monroe was staying flat.   Has anything changed in 2013?  Are prices finally rising?   Yes, they are, which is good news for sellers, and should be impetus for buyers who have been on the fence about buying.   The dotted line shows the trend of sales prices, but as can be seen, prices are not increasing in a straight line.   Monroe's December average sales results in 2012 were $234K; in November of this year, that had jumped more than 30% ($74K) to $307K.  But along the way, average monthly results had dipped to $260K and were as high as $345K.   In J...
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
As I shared in my Democrats and Republicans Can Work Together blog, and my post about how I felt voting was meaningful this year, 2013 was a big year for Monroe’s local elections. Republicans, Democrats, and Independents came together and developed a new political party, the United Monroe party. They did grass roots campaigning, knocking on doors, conducting fund raisers and rallies, publishing position and platform mailings, and doing whatever else they could to raise awareness of the issues in the town.   A high level summary of issues   The brouhaha started when the current town board purchased a nearly million dollar movie theater with no public input or notice, and with varying explanations of how the building would be used. People who hadn’t been involved in the town meetings or t...
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
It's time to update the garbage pickup schedules for the Monroe NY area.   Following are the official schedules for the Towns of Monroe, Tuxedo, Chester and the Village of Monroe.  Links to the official town and village sites are included on the bottom for more information and contact numbers.     MONROE (Town)   Tuesday: Regular household garbage pickup. Wednesday: Recylables. Bins can be picked up from the Town Highway Garage at 87 Mine Road. The Recycling pickup includes co-mingled (tin, aluminum, foil, plastic containers & cartons) and mixed papers. Do not put co-mingled items in plastic bags. Friday: Regular household pickup AND one bulk/large item will be picked up. This cannot include construction/renovation debris, tires, computer equipment or TVs but can include furniture, hot ...
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
The 2013 election ended a week ago, but the town of Monroe, NY is still waiting for results. As I shared in my Democrats and Republicans Can Work Together blog, and my post about how I felt voting was meaningful this year, 2013 was a big year for Monroe’s local elections.   Republicans, Democrats, and Independents came together and developed a new political party; one that was developed to effect change in Monroe.   They did grass roots campaigning that stirred people to action.   So why don’t we have results yet?   As our local Times Herald-Record newspaper stated, there was an “unprecedented voter crush” at the polls. Polling places ran out of ballots and needed to use emergency paper ballots and old-fashioned ballot boxes. Lines formed in polling locations that haven’t seen lines eve...
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
Several times recently, potential sellers in Monroe, NY have been surprised when I've shared the comparable market value of their home.   Their surprise is specifically in light of nationwide reporting that indicates the market moved to a seller's market a year or so ago.   Further, the nationwide look also indicates inventory has decreased significantly and prices have dramatically increased.   Unfortunately for sellers, in Monroe, NY, this is not the story the data supports. While the area has halted the downward trend in market pricing that started in the 2005/2006 time period, and while prices have started back up again, they are moving at a much slower rate than sellers hope for.   As evidenced by the above chart (all data from MLXchange), the increase in average sale prices betwee...
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
The year I turned 18, I registered to vote and dutifully went to the polling place to vote in my first election. I don't remember who I voted for, as it wasn't a presidential election year, but I did vote. With very few exceptions, I have voted in every election since that first one in 1978.   That's 35 years of doing my research, making my selections, and going to the polls. Usually, I know well in advance who I'm going to vote for, although there were a few times where I was just so unhappy with the choices, that I chose to vote for a particular party line instead.   Through all those years of doing my duty, I felt as though I was just doing what I was supposed to do. I didn't feel that my one vote was really going to make any big difference in the world. Especially in presidential el...
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
There is a general belief by future buyers and sellers that the residential real estate industry grinds to a halt once the summer is over.   This belief is sometimes echoed by some real estate professionals.   Well, this is simply not a truism in the Monroe, NY area, as is evident by the data provided below.   Looking at all sales of single family homes that occurred in the village and town of Monroe NY since January 2012, I calculated the percentage of homes that sold each month.   For 2013, the percentages assume November and December will have the same number of sales as 2012 (this will of course be adjusted once those months are over).   Looking back to 2012 (the blue bars), the two months with highest sales were July and August - no surprise there.   But what might be a surprise is...
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By Kat Palmiotti, Helping your Montana dreams take root
(406-270-3667, kat@thehousekat.com, Broker/REALTOR®)
I keep my political beliefs to myself, rarely even doing so much as comment on the opinions of others, as I find politics is one of the touchiest belief systems around. I do what I can to make a difference myself by going to polls on Election Day and voting my conscience, wherever that may lead me. And I’m not going to be changing that now!   That being said, there are some political maneuverings occuring in my town of Monroe, NY that I think are worth mentioning. My town is proving that it really is possible for two opposing parties to work together to get something done, and perhaps these small-scale efforts could teach our national “leaders” a thing or two. Quite frankly, the foot-stamping, temper-tantrum-throwing that our elected officials are demonstrating right now makes our entir...
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