Good afternoon everybody! How are you today? And here is your monthly update for all things real estate related here at The Harbors at Haverstraw. Closed 16 Leeward - 3 bed/3.2 bath/2407 sq. ft./Gabriel model sold for $337,500, this was a short sale more on that in a bit... Under Contract 28 Lagoon - 2 bed/2.5 bath riverfront townhome Cranwell model 2313 sq. ft. the listing price was $399,000 when it went under contract, I will etl you know how much it sells for. The taxes were $20,719 but those will be grieved and possibly lead to lower taxes in the rest of the development. Common charges $330. This is NOT a short sale should close soon. 1118 Round Pointe - 2 bed/2 bath with balcony no views listing price $319,000 this is another short sale, I'll let you know when it sells and how much for. 10 Leeward Drive - 3 bed/3.2 bath Cranwell inland townhome no views 2642 sq. ft. taxes $15,181 common charges $398 another short sale...listing price $298,000. For Sale - 18 Homes - No price reduction, two new listings since last update. 1 Edgewater Lane - $839,000 - 3 bed/3.2 bath/3200 sq. ft./taxes $23,811/common charges $435 35 Bridge Lane - $650,000 - 3 bed/3.1 bath/2642 sq. ft./taxes $13,984/common charges $356 34 Bridge Lane - $649,900 - 2 bed/2.2 bath/2307 sq. ft./taxes $14,457/common charges $312 5 Edgewater - $599,000 - 2 bed/2.1 bath/2360 sq. ft./taxes $17,937/common charges $325 20 Bridge Lane- $559,900 - 2 bed/2.2 bath/2307 sq. ft./taxes $13,781/common charges $330 7 Harbor Pointe-$545,000 - 3 bed/3.1 bath/2520 sq. ft./taxes $15,150/common charges $357 26 Harbor Pointe-$539,000- 2 bed/2.1 bath/2326 sq. ft./taxes $12,140/common charges $350 21 Harbor Pointe-$490,000- 2 bed/2.2 bath/2178 sq. ft./taxes $11,000/common charges $290 26 Lagoon Lane-$475,000-2 bed/2.1 bath/2306 sq. ft./taxes $callme/common charges $330 1217 Round Pointe-$468,000- 2bed/2 bath/1274 sq. ft./taxes $9,206/common charges $393 1124 Round Pointe-$420,000-2 bed/2bath/den/1621 sq. ft./taxes $11,049/common charges $502 3110 Leeward Dr-$399,999- 2 bed/ 2 bath/1352 sq. ft./taxes $8,040/common charges $383 1412 Round Pointe-$395,000-2 bed/2 bath/loft/ 1520 sq. ft./taxes $9,250/common charges $450 1222 Round Pointe-$349,000-2 bed/2 bath/1325 sq. ft./common charges $410 1218 Round Pointe-$335,000-2 bed/2 bath/1274 sq. ft./taxes $8,810/common charges $394 1301 Round Pointe-$265,000-2 bed/2bath/den/1426 sq. ft./taxes $9,869/common charges $425 3302 Leeward Dr-$265,000-1 bed/1 bath/854 sq. ft./taxes $4,071/common charges $265 1102 Round Pointe-$235,000-1 bed/1 bath/taxes $6,394/common charges $273 Ok, a lot of people have been asking me, "How will the short sales effect the values of our homes here?" Great question, my answer, don't fret, heres why. Short sales are not normal sales, they take a very long time and there are no guarantees that the bank will approve the deal for various reasons. Most buyers are not in a position to wait around to find if they will close on a home, its not a stock, its your way of life and most people need to plan. When you sign contracts on a normal transaction you know that you will close within 30-60 days or even less if its cash. This means that short sales are NOT a reflection of the prices here. Case in point, 16 Bridge recently closed for $440,000, the same unit 16 Leeward (see above) sold for $337,000 but was a short sale. If appraisers have enough comps within the last 3 months of "normal" transactions, they will exclude short sales from their report. Over time, this is exactly what will happen here, so my best advice to potential buyers, if you are in a position where a short sale might work for you, better take advantage now before its too late. And if your selling here don't worry about short sale closings, its just a trend right now but won't be in the near future. Until next time...