Are these houses fixer-uppers?

I understand that real estate in the Catskills is insanely cheap, but how do you get a six bedroom Victorian house for $180 - 199 G (not counting what you bargain off the asking price). Do you think they are fixer-uppers or prices are just a steal out there? I have penny saver-type of real estate guides and many of the houses in the same areas as the ones I gave links to which are way smaller are double the price, so I am very confused. Thanks again.
http://www.delcountyrealestate.com/200_000_/199000/199000.html
http://www.belleayrerealty.com/listings.htm
What about this 7-bedroom B&B below for only $149 G in (I think?) Hancock NY? It's been listed for at least a half a year, so that must mean that it needs a lot of work, but I have a gut feeling that the two houses I gave links to above, are in fine condition. If it's in bad shape, then what is it likely to cost to repair? Twenty grand? http://www.delawarelandoffice.com/cp10vh11.htm
-- You know the world's gone nuts when the best rapper is a white guy, the Swiss hold the America's Cup, France is accusing the US of arrogance and Germany doesn't want to go to war.--Sale Johnson (socialite)
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I'm referring to the one that's listed at $225,000. In the real estate guide book I have, it's listed at $199,000.
-- You know the world's gone nuts when the best rapper is a white guy, the Swiss hold the America's Cup, France is accusing the US of arrogance and Germany doesn't want to go to war.--Sale Johnson (socialite)
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Eh, scratch that. I just checked and it is listed at $225 K (I have a sneaking hunch that I was deluding myself because I can only afford to pay about $200 k). It's # 902 by the by.
-- You know the world's gone nuts when the best rapper is a white guy, the Swiss hold the America's Cup, France is accusing the US of arrogance and Germany doesn't want to go to war.--Sale Johnson (socialite)
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From what I know of the catskills of NYS, the economy is terrible, and the towns are a couple hours drive from any where. You have a job where you can telecommute?
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Christopher A. Young
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No. :-(
-- You know the world's gone nuts when the best rapper is a white guy, the Swiss hold the America's Cup, France is accusing the US of arrogance and Germany doesn't want to go to war.--Sale Johnson (socialite)
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The Catskills were supposed to be the next Las Vegas or Atlantic City. A lot of corporations bought properties there in anticipation but it never came through. So the properties are neglected and not worth much now. There is absolutely no industry up there. Years ago you had the hotels there bringing in tourists and offering hotel jobs. Now the hotels are few and the job market is almost nil.

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Chris Tsao wrote:

In the 1970's my wife and I looked at properties in that area. One I remember clearly was a farm house where I noticed the "sawdust" from the carpenter ants which were eating it lying on the floor under an interior door frame. If you buy one like that, I think it is not a fix up -- it is a tear down and build a new one.
I was working in lower Manhattan at the time. We ultimately bought an 1860's house near the ferry terminal in Staten Island. We put about thirty thousand dollars into windows, doors, chimneys, and retaining walls during the seventeen years we lived there. We sold it in 1988 and moved to a 1950's house in New Jersey.
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do
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Well, beauty is in the eye of the beholder.
I bought my house in Jan. for $50k. A 5 br 1 1/2 bath solid home that needed alot of small repairs and old wallpaper removed. My brother bought a house last month in the same area for $117 k, half the size of mine, but it was painted and most small repairs were not needed. Plus he has an hour more of commuting while I have 5 minutes (to the same employer). And because of what he paid his taxes will soon rise astronomically, while mine were drastically cut. So...........
Albany, like the Catskills, ain't NYC. And real estate valuation isn't an exact science. But then again, I buy cars for 1/4 of what others buy cars for. What matters is your skillz............
But, the REAL question is: What is it worth to YOU????
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True true true true.
-- You know the world's gone nuts when the best rapper is a white guy, the Swiss hold the America's Cup, France is accusing the US of arrogance and Germany doesn't want to go to war.--Sale Johnson (socialite)
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