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Real estate market explodes as city folk seek post-pandemic peace

Kathy Daley - Reporter/Photographer
Posted 7/6/20

SULLIVAN — Travis O'Dell calls it insane but in a good way. Dawn Curreri hasn't seen anything like this in two decades. And Carol Malek, who worked with new clients from 6 a.m. through nightfall …

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Real estate market explodes as city folk seek post-pandemic peace

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SULLIVAN — Travis O'Dell calls it insane but in a good way. Dawn Curreri hasn't seen anything like this in two decades. And Carol Malek, who worked with new clients from 6 a.m. through nightfall one recent day, hasn't experienced the likes of the current real estate market ever in her career.

“It's wild and exciting,” Malek said.

The three individuals are real estate brokers reaping the benefits of city people looking to flee Manhattan, Queens and Brooklyn - or at least to get a toehold in the beauty and relative sanity of Sullivan County.

“They understand the need for fresh air, stretching their legs, time for themselves and safety and security for their family,” said O'Dell of Coldwell Banker Timberland Properties in Roscoe.

Curreri of Eagle Valley Realty in Narrowsburg notes that people from the metro area are calling from all walks of life, “singles, couples, people with families, retirees. They are looking for all different things: fixer uppers, weekend homes, high-end lake-front, riverfront properties.

“Some are first-time homebuyers looking for something in good condition in the $100,000 to $200,000 price range,” Curreri said. “Then there are people who want to buy and have $400,000, $500,000, $600,000 in cash. My agents are very busy.”

The boom in the real estate market began in earnest several weeks ago when New York State lifted COVID-inspired restrictions in the real estate field. During the height of the pandemic, realtors were prohibited from squiring people around a particular property. Only virtual showings were permitted.

But that didn't keep people from calling upstate.

“For them, there was this frenzied fear factor at first,” said Malek of Malek Properties in White Lake.”They were saying, “We want out now!”

That cry has abated somewhat. But in its place is a frenetically busy market.

With free masks and sanitizer in tow for prospective customers as well as for the agents themselves, the professionals are required to limit the number of people on a particular property and are mandated to sanitize essentials like doorknobs.

“I just got a wave of new buyers in the past week,” notes Malek. “A lot of them are young, savvy professionals in their upper 20s into the 40s. One of the reasons they're coming in droves is the realization that they are able to work from home (as they did during the pandemic).”

Many prospective buyers are drawn to attractive farmhouses that are move-in ready, with some privacy. Five plus acres of land gets even more action, Malek said.

Another group of homeseekers are couples who had to stay home from work and who oversaw the virtual schooling their children received. For some, that is an option moving forward into the fall.

Adds Travis O'Dell: “A lot of people want to be here full time but they also plan to keep a landing pad in the city.”

The brokers are loving the buzz.

“One day, I connected 100 times with people through calls, texts and emails,” O'Dell said.

Successes happen all the time. For example, O'Dell noted that for the past several years, two lake-front homes in Roscoe listed with other realtors were on and off the market. Now for sale once more, there are multiple offers on the homes, escalating over the owners' asking prices.

Bidding wars are common. It's not unusual for a seller to get $20,000, $30,000 or $40,000 over their asking price, the realtors said.

“There's a big influx of buyers but very low inventory,” explained Curreri. “It's a seller's market. If you want to sell, now is the time.”

PHOTO: DAWN CURRERI

KATHY DALEY / DEMOCRAT

PHOTO: AERIAL FARM ON GABEL ROAD

CONTRIBUTED PHOTO

PHOTO: CABIN ON LAKE

KATHY DALEY / DEMOCRAT

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