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26 Hamburg Road
Catskill, NY 12414
$7,999,000
Conventional
Property
Bedroom
6
Bathroom
5
Property Type
Conventional
Square ft
12000
Property Description
Incredible opportunity to invest in extraordinary luxury. The outdoor recreation in Catskill has so much to offer, with trails, waterways, forests, and swamps there are so many ways to enjoy the fresh Catskill Mountain air. With over 1000 ft. of gorgeous Hudson River frontage gives this property incredible bonus potential for water sports, boating, or creating your own private Bed & Breakfast hot spot, Air BnB or an amazing wedding venue. This property offers breathtaking views that will entice potential guests all year long. To the East, across the Hudson there are stunning views of Rogers Island. Located there is the Rogers Island Wildlife Management Area. As a land conservancy, this property will never be developed so your spectacular views will never be obstructed. Break out those binoculars and feast your eyes on the myriad fauna of the Catskills. If you cast your gaze West, you will see the lovely town of Catskill itself. Perfectly situated along the banks of the Hudson River, the Village of Catskill offers Victorian storefronts, a variety of eateries, unique boutiques and historic sites where local artists rose to fame. Located near the Rip Van Winkle Bridge in Catskill, right at the Hudson River Skywalk – a six mile out-and-back scenic walkway that connects two national historic landmarks, the Thomas Cole site and Frederic Church’s Olana. Not many properties can take you from pastoral to bucolic bliss to city-like dynamics so quickly and easily. Included in this offering are 4 additional buildings: A large woodshed, a spacious workshop, a 60’ x 40’ garage with three 14 ft. overhead doors large enough to house a helicopter and a spectacular log home overhanging the lovely 25 ft deep pond. The estate has marble that was imported from all over the world, garden walls offering privacy and a park like setting. The spacious gourmet kitchen has a center island with a four-foot grill for cooking and warming dishes. The refrigerator and freezer are hidden in the custom cabinets. All the cabinets have crystal pulls. Just off the kitchen is a Winter Garden room with fully glassed walls and ceiling. This is radiant heated in addition to the solar effect. Besides a great room for entertaining, this space could be a botanical garden or an artist’s studio. This magnificent home has a beautifully designed lower level which includes: a heated 2 car garage with tiled floor, large laundry room with w/d, tile floors, extensive cabinet space, half bath, recreation room with a full-size pool table and antique stained glass lighted panels. And to top it off, a replica of a Bavarian pub with all the trimmings, including a full bar and sitting area for your guests. Built in 1903 this property boasts old-world elegance and modern convenience, master craftsmanship as well as easy access to the Town of Catskill.
Property Information
Lot Size
17 acre(s) square ft
Property Type
Residential
Year Built
1903
MLS Number
20240812
Location
Address
26 Hamburg Road
City
Catskill
State
NY
Zip Code
12414
County
GREENE
Listing
Provider
Win Morrison Realty, original listing
Name
Win Morrison Realty
Phone
Office Name
Win Morrison Realty
Office Phone
(845) 339-1144
Agent Name
Winton Morrison

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.