Do these two houses look similar? Yup. They're almost identical, and both are on the market. The house on the left sits on 5 acres on Rowley Road near Barryville and is on the market at $299,000 (MLS 25388). The house on the right is just a few miles away, on 2.4 acres on Forestburgh Road in Glen Spey, and is on the market for $154,500. (MLS 473885.) The difference? House A has been stylishly renovated, with new systems and updates. House B is a bank owned foreclosure, and to put it charitably, is kind of a mess. The previous owners had started - but not finished - their updating. The kitchen and bathrooms are partially finished, some walls are raw, untaped sheetrock and there's evidence of mold in the basement. (House A doesn't have a basement.) But the house could be a great deal for a savvy cash buyer willing to take on the project. (Financing on this one could be tough because of the unfinished renovation.)
The owners of House A have gone very modern in their renovation and decorating, bordering on starkly sleek. It's ready to go out of the box. No assembly required. House B is more challenging, needing a buyer with the time, resources and imagination to turn it into a great little modern getaway.
How can anyone discuss these houses without noting the ridiculously high taxes on both? And what's especially bizarre is that the one you describe as a "mess," on half the land as the other one, has the higher taxes! How is that possible? The taxes alone should make either of these houses a no-sale.
Posted by: ar | November 06, 2009 at 03:50 AM
You shouldn't be concerned with taxes. You should only be concerned with your vegetable and flower gardens. This is what you are paying for. Nothing else matters.
Posted by: rt | November 06, 2009 at 12:10 PM
House A's kitchen is also completely out of step with the rest of the house. Just look at the light fixture next to the Sam Gilliam-esque painting. Also: Uprotected art above a baseboard heater?
Posted by: Reg | November 06, 2009 at 11:21 PM
Both houses would benefit from grieving the taxes. Lumberlands assessor is amenable to facts and comps.
Posted by: Rod | November 07, 2009 at 06:12 PM
I looked and considered the $299K property before the price drop, and I looked at the foreclosed $154K two months ago.
The foreclosure is what it is, and might require more work than the pictures lead to believe.
Regarding the $299K property, the interior is designed with taste, the house is nicely placed at the end of a long driveway (something I was looking for), a bit on the dark side, and it takes a while to get used to the glimpses of the corners of the house when looking out the windows on the second floor.
The only problem I had with the %299K house, before the price drop, was the asking price (both before and after the price drop) was higher than what the current owner payed for it just a couple of years ago, probably at the peak of the market.
Consequently, the "firmness" of the new price might be an additional problem.
Posted by: Friday910 | November 13, 2009 at 11:38 AM