TWO BEDROOM COUNTRY COTTAGE - ONLY $198,000.

This two Bedroom, two Bath, 1960's Cottage is located on 2.04 acres of mostly wooded land on County Route 24 (Red Rock Road) in the town of Canaan. It is in excellent condition, has oil hot water heating, 1,136 square feet of living space, double-hung windows, enclosed porch, seasonal stream at property border, 1-car detached garage, and plenty of storage.

For more information and/or an email brochure, please email John Wallace at: John@GrayRider.com

or call him at 518-392-7062

PROFESSIONAL OFFICE BUILDING IN CHATHAM, NEW YORK

PROFESSIONAL MEDICAL OFFICE BUILDING IN CHATHAM - $425,000.

Professional Office building fully leased. Excellent tenants with current leases. New rubber roof in 2010, new furnaces and hot water heaters. This 5,000 square foot professional office building was built in 1962. It sits on 3.8 acres of land on a side street in the Village of Chatham. It has waiting rooms, reception/office areas, 5 baths, and ample parking in both the front and the rear of the building. Tennants pay for heat and electric. There is a total of 4 furnaces (including backups) and the building is air conditioned. Total Annual Real Estate taxes are approximately $11,732. per year. Gross income is approximately $81,000+ per year. Owners pay the real estate taxes and tenants pay approximately 91% of the common charges.

Total Annual Income: $81,116.
Total Annual Expenses: $48,200.
Total net Income: $3,916.

Cick on the link below for more information:

http://www.grayriderrealestate.com/Form-MedicalBuilding-InfoRequest.htm

Survey: 87% of First-Time Homebuyers Don't Foresee Payment Troubles

Prospective homebuyers cite worries about future unemployment, concerns about property affordability, and the local economic outlook as issues that hold them back from jumping into the market, according to an industry survey commissioned by Genworth.

But the Virginia-based mortgage insurer says these economic concerns have not translated into excessive mortgage stress among recent U.S. homebuyers.

According to the survey, 87 percent of Americans who bought their first home in the past 12 months expect to easily meet their mortgage repayment obligations in the coming year.

Genworth debuted its new International Mortgage Trends Report Friday based on a global survey of current and aspiring homebuyers aimed at gaining local insight into key world markets. More than 9,000 respondents were interviewed from Australia, Canada, India, Ireland, Italy, Mexico, the United Kingdom, and the United States.

The company says the U.S. is the most optimistic among all the markets surveyed about buying a home. According to the findings, nearly two-thirds of Americans polled believe now is a good time to buy a home.

Genworth says indebtedness colors how households around the world view their financial situation and how they approach buying a home. Western countries tended to have higher levels of debt, but were also more comfortable taking on debt.

Of the many factors that influence the decision to buy a home, Genworth notes that consumer confidence is one of the most important.

The company’s survey found that homebuyer confidence has eroded due to property market instability and worries about personal finances, leading consumers to adopt a wait-and-see attitude.

Still, nearly two-thirds of Americans surveyed believe now is a good time to buy a home for those who can afford it.
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Article by Carrie Bay - www.DSNews.com

FLANDERS CORP COMING TO COLUMBIA COUNTY

The news that the Flanders Corporation will move into Columbia County is a welcome sign that the changing dynamics in New York State are starting to reap benefits.

The Flanders Corporation has picked our region to expand its growing air filter manufacturing business which is based out of North Carolina. The Company will be creating 180 jobs and investing approximately $7 million in the former Kaz plant. The collaboration between state, county and local officials helped make this a reality and I was pleased to be a part of this economic development team.

As challenging as this past budget process was, my Republican Senate Colleagues and I remained steadfast in our commitment to deliver an on time budget that contained no new tax increases. A signal that New York can be competitive in attracting and maintaining businesses and jobs.

I am hopeful the Flanders Corporation is the first of more businesses who will see the region full of potential to establish or expand a business.

Posted by State Senator Steve Saland

SENIOR LIVING FACILITIES SEE A BOOM IN THE USA

Seven years ago, real-estate developer Greg Smith purchased a failed nursing home in Danbury, Conn., with an eye toward converting it into residential condominiums.


When a friend suggested instead a senior housing strategy known as assisted living Mr. Smith initially wasn't enthused. "I didn't even know what assisted living was," Mr. Smith says.

Now he knows. His company Maplewood Communities LLC has developed and is operating three assisted-living communities including the one in Danbury and has three others under development. Moreover, Maplewood also just cut a deal with Aviv REIT Inc., one of the country's largest landlords of skilled nursing facilities, under which Aviv will provide capital for future growth, initially $60 million.

"We're talking about getting 15 to 25 communities under our belt," Mr. Smith says.

Assisted-living housing is growing into a bigger business in the New York region. While development is slow of most commercial property types—like office buildings and retail centers—a number of developers are moving ahead with plans to provide facilities that occupy a middle ground between standard apartment buildings and nursing homes.

Assisted-living tenants typically are elderly people who are generally healthy and can take care of themselves, but the facilities provide services like nurses, aides, dining and memory care. Average rents at Maplewood are $4,700 to $4,900 per month.

The New York metro area has the second lowest number of available assisted-living units in the country with 2.6 units for every 100 households with seniors aged 75 years and older, according to the National Investment Center for the Seniors Housing & Care Industry. The number of units has grown only 3% in the last five years in the region compared to 7.4% nationally, according to the center.

But the region's population is aging. People 75 years and older constitute nearly 20% of all households in the metro area, compared to 14.7% in the U.S. overall, according to the National Investment Center.

"We see that demand [is growing] as baby boomers start to climb" in age, says Mr. Smith. "The amount of [new] supply over the last 10 years has been virtually nonexistent."

The strategy so far has paid off for Maplewood. For example, it spent $11.5 million to buy the Danbury property and convert into an assisted-living facility equipped with a manmade waterfall in the dinning area. Today, it's roughly 90% occupied, has an annual income of $1.5 million. Mr. Smith estimates its worth at $18 million.

Altogether, Maplewood has invested about $35 million for its three existing properties. For the properties under development, it has invested about $45 million with a total of 225 units. Mr. Smith estimates that "conservatively" they're worth $55 million.

Other regional operators also are expanding. Benchmark Senior Living, which is Connecticut's largest owner of assisted living with 15 facilities, is expanding into northern New Jersey and suburban New York as well as New England, according to Thomas Grape, Benchmark's chief executive. He declined to elaborate citing competitive concerns.

The regional activity reflects a national trend. The biggest real-estate mergers so far this year involved national health- care landlords seeking to expand their senior housing exposure including Ventas's $5.8 billion acquisition of Nationwide Health Properties in February several months after it acquired Atria Senior Living, one the biggest regional operators in the New York region. In addition, Health Care REIT recently enters a partnership with Benchmark Senior Living involving 34 assisted living facilities in New England.

Jeff Theiler, an analyst at Green Street Advisors, says there are nearly 2 million assisted living units in the U.S. and on average, the number has increased 5% every year for the past 25 years. "Because of that resiliency, there has been a big …interest in the property type among the health care REITs," Mr. Theiler says.

To be sure, assisted living isn't without its pitfalls. Although rents have risen in recent years, the growth hasn't been robust. During the recession, many seniors or their children couldn't sell their homes or didn't have viable employment to pay for assisted-living accommodations, which are relatively expensive.

Mr. Smith started in commercial real estate by developing and acquiring office and hotel buildings more than 10 years ago. But, after he purchased his first assisted living facility in Danbury he decided to focus on this sector. He even recruited family members to live in the Danbury facility, including his great aunt and grandmother who died last year. "They fell in love with it. My grandmother was the matriarch of the community," Mr. Smith said.


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Article written by A.D. PRUITT, Wall Street Journal

Picture of Maplewood Community by Anton Troianovski/The Wall Street Journal

http://online.wsj.com/article/SB10001424052748703864204576311443059330956.html#printMode

CLEAR CAPITAL: HOME PRICES HAVE OFFICIALLY DOUBLE-DIPPED



The national home price index from Clear Capital has officially entered double-dip territory.

The company says data through the end of April has pushed its reading of national home prices 0.7 percent below the prior low recorded in March 2009, as markets have become saturated with bank-owned properties.

Clear Capital’s report shows prices have fallen 11.5 percent over the previous nine-month period. A rate of decline this rapid has not been seen since 2008.

All the major metropolitan statistical areas tracked in Clear Capital’s report showed quarter-over-quarter price declines. The company says it’s a “sign of the continued volatility and fragility of home prices.”

At the regional level, home prices in the West, Northeast, and South regions have all crossed into double dip territory to record their lowest prices since the downturn began.

Clear Capital says the fact that the Midwest is the only region yet to double dip is largely a reflection of magnified gains it experienced during the last two years of tax credit activity.

Dr. Alex Villacorta, director of research and analytics at Clear Capital, says he continues to see evidence of an increase in the proportion of distressed sales taking hold in markets nationwide.

“With more than one-third of national home sales being REO, market prices are being weighed down as many markets have not regained enough footing to withstand the strain of the high proportion of REO sales,” Villacorta said.

“In light of the compounding effects of winter’s seasonal slowdown and increased distressed sale activity, the market now faces the true test of whether prices can rebound in the historically active spring season,” according to Villacorta.

While spring typically brings with it a resurgence in home sales – and home prices follow – Clear Capital warns that markets have entered uncharted territory since this spring homebuying season will be the first since 2008 without any tax credit incentive.

“A note of caution to those looking for a strong end to 2011: The last time no incentives were in place and distressed inventories were this high, home prices fell sharply,” Clear Capital said in its report.

The company’s home price report last month noted the subtle but rather ominous trend that distressed sales activity in the West, as a percentage of total sales, had climbed after a prolonged 18-month period of general improvements, and in turn, home prices in the western part of the country hit the double-dip mark in March.

Nationally, Clear Capital says a similar trend has formed with REO saturation climbing to a current level of 34.5 percent after it declined to near 20 percent in mid-2010. Strikingly similar, the company says, 2008 saw REO saturation grow from near 20 percent early in the year to 32 percent by the end of 2008.

Looking at home price trends during these same two periods ties together similarities, Clear Capital explained, with a 15.6 percent price decline for the 2008 timeframe compared to the 11.5 percent decline for the mid-2010 through April 2011 period.

“This comparison leads to concern over home price declines through the rest of 2011,” Clear Capital said in its report, noting that the trends of 2008 were quickly reversed with the introduction of stimulus measures.

“[T]he housing market still faces many challenges that will only be solved through increased buying activity or a reduction in the distressed segment ― neither of which is assured in 2011,” according to Clear Capital.


Written by Carrie Bay - http://www.dsnews.com/

1810 COLONIAL AND GRIST MILL ON 8 PLUS ACRES IN GHENT, NEW YORK - $595,000



Circa 1810 Center Hall Colonial with 5 Bedrooms and 3 Baths, with early addition. Period charm with modern amenities. 8.32 surveyed acres along Kline Kill Creek. Early (1800's) 3 story Grist Mill (Brookside Flour and Feed Mill) with many artifacts still remaining. 1,100 sq. ft. shop/garage plus a 6,000 sq. ft. commercial building with elec., water, & heat, currently rented to marine repair facility. (all out buildings have electric). Wonderful property for both residential or commercial uses. Come take a look. Additional 16.73 acres available.

For additional information, click on the following link:

www.GristMillForSale.com