Many People From Outside Hudson Valley Are Buying Homes in Region
Real estate agents report many people from outside the region are quickly snatching up homes in the Hudson Valley due to a fear of a second COVID-19 wave.
Homebuilder Chuck Petersheim, the owner of Catskill Farms, says he's sold six soon to be built homes in the past eight weeks and gets around 30 phone calls from potential home buyers each week during this COVID-19 pandemic.
“People who are now in the Hudson Valley looking for homes, many of them have never been to the Hudson Valley before,” Petersheim told the Wall Street Journal. “That’s new to the marketplace, that urgency.”
Petersheim says he normally gets six calls a week from people looking to purchase a home and normally sells around 16 homes a year.
Real estate agents say people are looking to buy homes quickly in the region in fear of a second wave of coronavirus.
A reader told Hudson Valley Post within 24 hours of posting his New Windsor home he had 10 showings and three offers. One of the offers was accepted and the home was off the market within days.
Other readers reported to Hudson Valley Post if you don't see a house within a few days of it being listed it's likely the home already has multiple offers and an offer has been accepted.
In May, Richard Stoll, a Kingston real estate agent, said he's been receiving many calls from people hoping to move out of New York City.
Jacob Knoll told the Wall Street Journal homes in New Paltz are also selling as soon as they hit the market.
“The whole game has changed,” Knoll said to the Wall Street Journal. “It’s just incredible how many [houses] have pending offers or are completely gone already. It’s nuts.”
Doug Tough who lives with his family in New York City recently purchased a home in Sullivan County after an intense bidding war. He told the Wall Street Journal he had a hard time buying a home because some were purchasing homes using just cash without ever visiting the home before agreeing to buy.