Bain Real Estate Cornwall Village 2017 December Market Report

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We are in the midst of the holidays, following a lovely Fall season. Winter has arrived in a

friendly, frosty way. The Mohawk Trails are covered with snow and ski season is underway!

Last year at this time we reported 7 sales with 43 houses for sale. This year we are reporting 5

sales but only 29 houses currently for sale in Cornwall. The market has gotten a bit more restrictive with fewer homes being offered.  This constriction, we predict, will only help to tighten values in the next few years.

While many of our residential sales in the recent past have sold below the Cornwall Town appraised value, on average homes are selling for more than the Cornwall Town assessed value. (An Appraised Value is the full value the Town sees your house being worth- The Assessed Value is 30% less the Appraised Value and is the figure used to calculate your taxes.) We see the value range between the two Town figures as a good place to begin when estimating your own property's value.  I've indicated those figures in the report below.

There were 2 sales in the village itself:

5 Twixt Road was the long time home of Joan Titus, independent real estate agent, and former

researcher for Time/Life and dear friend. This cozy home with 3 bedrooms, an office, bath and a half, kitchen, dining room and living room with a detached 1 car garage was my listing. It has been transformed by the new owner into an open first floor living space opening to a large deck and patio in the backyard. Originally listed at $335,000 I sold it for $187,500, which was still above the assessed $165,600.

14 Pine Street is a charming clapboard antique dated 1808 with a welcoming front porch.

Upstairs there are 3 bedrooms with a bathroom. Downstairs a large kitchen, living areas and

even an enclosed back porch plus a fireplace. Originally priced at $435,000, it sold quite quickly

for $407,500 just slightly below the $434,800 town appraisal.

In the village vicinity we have:

52 Cemetery Hill Road is a Cape Cod style home far enough at the end of a long drive that the house cannot be seen from Route 4. In addition to the house, there is a 3 car garage, storage barn and a writer's cabin at the back of the 10 plus acres overlooking a spring fed pond. Originally the many bookshelves in the house were filled with books by this former professor and researcher. The house itself features 3 bedrooms with a first floor master, eat-in kitchen,

living room with fireplace and a large nook which used to house a grand piano.  I listed this property at $395,000 and later reduced to $299,000 at which point it sold for $280,000, a smidge above the $263,500 assessed value.

19 Great Hollow Road is a handsome small yellow house with a detached 1 car garage. With 3

bedrooms on the second floor, the first floor also has a brand new cathedral ceiling addition.

The eat-in country kitchen opened to the back patio for outside dining. A 2.5 acre level yard

offers room for gardening . The near proximity to Mohawk Ski area is also a plus. This is one of the few Cornwall properties to sell above the town appraised value. Originally priced at $225,000 it sold for $200,000 and is appraised at $184,000. This was also my listing.

55 Essex Hill Road sits high above the roaring Birdseye Brook in a picaresque country setting with a large front meadow, stone walls and long driveway in. Old time Cornwallians may remember this was once the Children's Cottage.  Last bought during the height of the market in 2007 for $615,950 the seller used the Town appraisal of $430,700 as a measure of value and agreed to price the property at $450,000 to meet the market.  David Bain and I shared this listing which has a large, light cathedral ceiling living room with a wood burning fireplace and an entrance to the open deck, an adjacent dining room plus 3 bedrooms which include the master with a bath en suite, David Bain sold it for $440,000.

Currently available for sale in this area we have one lot and one home.

The 7 acre lot is at the corner of Everest Hill Road (750' frontage) and Great Hollow Road (149' frontage). Mostly clear and level with several home sites from which to choose it is listed at $150,000 which represents a $25,000 reduction from the original price. This is my listing.

295 Great Hollow Road is my listing and a 1951 one level home with swimming pool, large cathedral ceilinged living room with wood burning fireplace, 2 bedrooms, 2 baths, kitchen open to dining area plus an unfinished basement which also includes a 2 car garage. Located on over 9 acres and listed at $350,000. The Appraised value is $368,200 with an Assessed Value of $257,800. Currently there is an offer so I hope to write about this sale in the next letter.

We extend Holiday Greetings to all with the expectation of a great New Year 2018.

If we may answer any real estate questions, or visit with you, please stop by the Cornwall office

next door to the new café- Pearly's Farmhouse Café just through the Covered Bridge.

Sincerely yours,

Priscilla Pavel

REALTOR

AND Heidi Kearns, Dave Hurlburt, Rick Meehan and Asher Pavel