Nitty-Gritty: The consistent comment from appraisers and realtors we have employed is that their market analysis software underestimates the value of our home because of its beautiful setting and uniqueness. For example, where are you going to find a house with a landmark tree that had squirrels running around it when there were no Europeans for fifty miles and New York was called Nieu Amsterdamm? A house where while driving to work you can see a loon swim out of a glowing molten gold mist on the water? A house where virtually every important facet of infrastructure has been replaced, so that it should be practically maintenance-free for decades? A house in a beautiful, tranquil, private setting where your neighbors aren't living across a lawn ten yards away from you?

When you do the typical realtor's comparison of "similar" homes that have recently sold in the area (one acre, three bedrooms, two baths, etc.) you will come up with an average value below the amount we are selling our house for. The problem with that is that few (if any) homes in this area - either sold or on the market - are "similar". Estimating value this way can be misleading. For example, considering attributes like horsepower, body type, seat area, transmission, model year, etc. might assume that a BMW six-speed M5 is "similar" to a Camaro, and worth about as much. That approach won't work at your BMW dealership and it certainly won't work with us.

Here's a less abstract example: a "similar" house (three bedrooms, family room, garage, similar taxes, same schools, amount of secluded land, age, etc.) recently sold last autumn for $515,200. In comparison with our house, the buyers got a slightly larger dining room and a third bathroom in a basement. However, consider what they also "got":

1. Less land.
2. Small, one-car garage.
3. One of three bedrooms in the basement.
4. Force hot air heat.
5. Family room in the basement.
6. No security system.
7. Unattractive swampy road and neighborhood. 8. No sunroom.
9. Less accessability (20 minutes from Route 684 and train).
10. No central A/C.
11. Less living area - 1700, with 900 of it in the basement.
12. No screened porch.
13. No "drop dead" magnificent jaw-on-chest landmark oak tree.
14. No deck.
15. In-ground oil tank (BIG headache).
16. No built-in laundry.
17. Asbestos shingle roof (BIGGER headache).
18. No basement.
19. Certificate of Occupancy problem (HUGE headache).
20. No pantry.
21. No professional office/apartment capability.

Putnam County is the fastest-growing county in New York State. This quote from an economist was printed by the Putnam County Courier (click NEWSPAPER ARTICLES button for full text):

"Putnam boasts the fastest rate of home price apreciation . Outside of two counties in New York City - Richmond County or Staten Island and Queens County - Putnam is experiencing the fastest rate of population growth of any of the 57 counties outside of New York City" . . .

And from the Journal News, April 23, 2004 (click NEWSPAPER ARTICLES button for full text):

"In the past two years, according to statistics from the New York State Association of Realtors, the median prices of homes climbed 48 percent statewide. In the metro area alone, where prices started significantly higher than the state average, price increases ranged from nearly 25 percent to more than 38 percent between the end of 2001 and the end of 2003. The greatest appreciation locally was in Putnam County".

These are uncertain times. The stock market is schizophrenic. The government has looney tunes economic policies. Interest rates are creeping up. Oil is twice as expensive as it was a year ago. No one knows which way the wind is blowing. What has been true my whole life and is certain now is that real estate is the best investment, and this house will continue to appreciate. Putnam County is hot. We have a beautiful home in a very desirable area of Putnam. We do not need to sell it. We have another house, pay no mortgage on either one, and have no kids to support. We are (thank God) "retired" and in no frenzy to sell. We care about this house and want to sell it to someone who feels the same way. We can afford to wait for the right person with the right price.

Bottom Line:

I know that for many buyers real estate psychology involves gratifying a need to demonstrate shrewd business sense by getting a bargain. Shrewd business sense should tell you this house is a bargain. You must have and I must see a recent mortgage pre-approval available in writing. I will not consider "offers" - I will just move on to the next person in line. There is enough information on this website to satisfy curiosity. Please do not email me unless you have a serious interest in buying this house. Email from brokers or realtors, unless they represent an actual interested buyer, will be treated as spam.