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75 Allhusen Road
Plattekill, NY 12561
Janet Myer with Houlihan Lawrence, Inc. - Millbrook, original listing - 677-6161
$1,795,000
Conventional
Property
Bedroom
2
Bathroom
Full: 2
Property Type
Conventional
Square ft
2332 Square Feet
Property Description
The Thaddeus Hait House has historical significance and is listed on the National Register of Historic Places. The farm was established in 1819 and sits along both sides of Allhusen Road. In 1728 the property was a land patent granted to John Spratt and Andrich Marshalk. By the late 18th century much of the patent was subdivided and the farmland passed through Adam Baker and Henry Lockwood prior to Hait purchasing an initial 97 acres parcel. By 1828, Hait continued to enlarge the property through multiple surrounding acquisitions, and the farm had grown to 153 acres. Around this time Hait's Federal style two-story, three-bay farmhouse neared its completion featuring a frame and stone construction. Hait descended from a prestigious, wealthy family that settled in Westchester County, and he spared no expense in the design of his home. There is an elegant second floor parlor, which was a distinct local feature in the style of homes in that era. The superior craftmanship displayed on paneled doors and channeled moldings throughout the residence reflect the wealth and stature of the family. There are several outbuildings on the now 117 acre property. A Dutch barn that likely dates to the late 18th century boasts characteristics that include a timber H-frame, hand-hewn anchor beams and a three aisle floor plan. A second barn that exists on the property is unusual in that it is made of stone, a material that was normally used during that period for dwellings and/or smokehouses. For many years the property was a well-known dairy farm that was run by Ira Hait, Thaddeus's son. The property farm eventually passed on to Thaddeus Hait's grandsons, Ira and John Elting. Ira Elting ran the dairy farm until he sold it in 1888. It then passed through two owners until 1906 when the Allhusen family purchased it and operated a dairy farm for the next 76 years. In 1982 the Adair family purchased the property. Jim Adair was a well-known watercolor artist who used the stone barn for his art studio Red Pump Art Gallery. The property is magnificent and has tremendous potential for a variety of uses. Red Pump Gallery is a fantastic light filled workspace awaiting its new owner/artist. Plenty of storage in the lower level and a walk out entrance. Smaller outbuildings dot the landscape. Close to town, shopping and restaurants.
Property Information
Lot Size
117 acre(s) square ft
Property Type
Residential-Single Family Residence
Year Built
1790
MLS Number
--
Location
Address
75 Allhusen Road
City
Plattekill
State
NY
Zip Code
12561
County
ULSTER
Listing
Provider
Houlihan Lawrence, Inc. - Millbrook, original listing
Name
Phone
(845) 677-6161
Office Name
Office Phone
677-6161
Agent Name
Janet Myer
Agency Phone
677-6161

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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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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.