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Catskills - Sullivan County - Ulster County Real Estate -- Catskill Farms Journal

Old School Real estate blog in the Catskills. Journeys, trial, tribulations, observations and projects of Catskill Farms Founder Chuck Petersheim. Since 2002, Catskill Farms has designed, built, and sold over 250 homes in the Hills, investing over $100m and introducing thousands to the areas we serve. Farms, Barns, Moderns, Cottages and Minis - a design portfolio which has something for everyone.

February 20, 2024

Another Day, Another Closing - Ranch 65 leaves the building

This was a fun home to build in Narrowsburg. Ranch 65. Like many of our homes, started out an orphan without an owner (spec house, meaning built on speculation) then picked up an owner when about 40% complete. Then we collaborated successfully on the completion of the home, and today they buy it. 20 years, 300 homes, 300 families. Then the resales to new families probably pops that number of over 400. Include the people who stay at our homes via Airbnb and you have literally no joke thousands upon thousands of people who have enjoyed our homes.

Then you start getting into the ROI (return on investment), where families have sold our original designs and made hundreds of thousands of dollars. Back before 2020, we took pride in the ability to sell their houses at all because there was an adage in the Catskills 'buy now own forever'. 2020 onward houses became more liquid, and the values our clients got when selling was gigantic. I think several families made more than $500k on less than 4 years of ownership.

And don't even get me started on all the ancillary people who have made lots of money off my efforts, starting with realtors charging their 6%, but quickly including banks, cleaners, pool installers, retrofit carpenters, and hundreds of other home-centric services. And don't forget about the restaurants that have made their bottomline jingle with the disposable income of our homebuyers. My one client call it the 'economic cross multiplier' - never heard the term before, but oh so accurate. $1000 gets spent in the economy, generating $5000 of economic activity, which gets spent in the community, which then becomes $15k when then becomes $50k and then becomes over 20 years $400,000,000. Only in America.

Trigger alert Eric Weissman - pictures of a home below.

Ranch 65 -

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