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660-668 N Chodikee Lake Road
Highland, NY 12528
Hayes Clement with BHHS HUDSON VALLEY PROP-KING, original listing - (845) 340-1920
$1,550,000
Conventional
Property
Bedroom
7
Bathroom
Full: 3, ½: 2
Property Type
Conventional
Square ft
5730 Square Feet
Property Description
Welcome to Stonewall Farm, a rare 40-acre retreat featuring not one but TWO architecturally distinctive houses less than two hours from Manhattan and minutes from the New Paltz village center. Privately set at the end of a long driveway flanked on each side by its namesake stacked-bluestone walls, the property features both meadows and woods, with frontage on Chodikee Lake reached just across a forested bluff. The first house, built in 1820 by William Brooks and listed on Ulster County's historic places registry, is a charming foursquare stone farmhouse featuring four bedrooms and two baths (one full, one half), plus a 30-foot living room with fireplace opening to an end-to-end screened side porch overlooking a meadow. The dining room also has a fireplace, and the renovated kitchen features custom dovetail jointed cabinetry, a gourmet 48-inch range with hood and pot filler, and other high-end appliances. Upstairs are the four bedrooms, an oversized bathroom with spotless vintage tilework still in place, and a large central walk-in closet for storage. Throughout the house are classic recessed windows with stunning glass panes, hardwood floors and plenty of light. The second house is a spacious three-bedroom, 2.5-bath Mid Century Modern ranch, not visible from the stone house. You enter through a pergola-topped entry courtyard into a stone-floored entry gallery. From there, the house immediately opens to a dramatic sunken living room with vaulted beamed ceilings and a stunning stone fireplace, with a full wall of sliding-glass doors offering panoramic views of the woods and a ravine. The vibe is bright and airy but also remarkably vintage, including the oversized kitchen with cheery orange cabinets. Each bedroom is spacious, and there's a finished family room in the walk-out basement level. Between the two houses is a standalone studio building with a two-car garage plus a finished library room and office space, perfect for at-home work, overflow guests or additional storage. Recent upgrades include separate 22kw whole-house Generac generators and ductless central-air and heating systems in both houses, installed in 2015. This a unique opportunity to own a remarkably private compound, with two choices of great architecture, minutes by car or bicycle from the Walkway Over the Hudson, MetroNorth and Amtrak train service in Poughkeepsie, and the charms of New Paltz, one of the Hudson Valley's most popular college towns.
Property Information
Lot Size
39 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1820
MLS Number
--
Location
Address
660-668 N Chodikee Lake Road
City
Highland
State
NY
Zip Code
12528
County
ULSTER
Listing
Provider
BHHS HUDSON VALLEY PROP-KING, original listing
Name
Phone
(845) 340-1920
Office Name
Office Phone
(845) 340-1920
Agent Name
Hayes Clement
Agency Phone
(845) 340-1920

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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.