This week, Upstater‘s taking a look at short sales, aka homes selling for less than what’s left on the mortgage, and generally subject to the bank’s approval. Short sales abound upstate, even in the million dollar range, but we’re going to pick out a few promising properties in the more affordable category. Many, but not all, need some — or a lot of — TLC. We focused in on Ulster County this week, since it’s among the most popular second home locales for Brooklynites.
In the Mad Men-gone-awry department, here’s a strange take on Tudor-style half-timbering, a 1960s box of a pad — three beds, three baths, 1,742 square feet — in need of some serious work, per the listing. It’s asking $100,000, which we think is high, considering its location.
Although it’s in a nice spot town-wise, about halfway between Phoenicia and Shandaken, it’s right on Route 28, the main drag, east-west, through that neck of the Catskills. The good news is that it’s also right on the lovely Esopus Creek. Could someone exploit its 1960s architecture and transform it into something fabulously mod… or is it beyond hope?
6381 Route 28, Phoenicia, $100,000. GMAP.
Something a little more to historic tastes, but also more expensive, is this 1920 farm house in the sweet little town on Olive. It even has a name — Manitou House — as well as a pool, five beds, two baths and 1.3 acres. It’s quite lovely on the inside (we are suckers for the good Feng Shui of a staircase that doesn’t lead right out the front door, taking your luck with it), with beautiful windows and built-ins.
In the luxury category, at $650,000, is this 1970s McMansion. Not to everyone’s taste, but perhaps some can imagine cozying up by the massive stone fireplace, or summering by the in-ground pool.
For less than what’s left on the mortgage, here’s what you get: seven beds, five baths, over 34 acres and 7,200 square feet. It has a wraparound porch, though looks to us like it needs resealing. It’s also got a giant barn, currently used as a shop. Our suggestion: renovate, modernize and market it as a place for family reunions.
71 Taylor Road, Denning. $650,000. GMAP.