Whistling past the graveyard

Real estate agent Mark Pruner has a cheery article in this week’s Greenwich Sentinel about the resurgence of back country properties. We all have our numbers, so I’ll just point out that the headline “Backcountry sales up 29%” loses some of its punch when followed by an admission that most of the increase was seen in the $1-$3 range; take a property that once sold for $9 million, drop its price below $3, and yes, a sale is recorded, but an improvement? Not so much.

But you can decide for yourself. In the meantime, Mark offers this stern warning:

Right now, backcountry is going through major changes, which are often wrenching changes for those that bought in the late digits. Buyers however are finding great bargains and interestingly some of the most distant houses along the New York borders are attracting people due to the resurgent night-life in Armonk and an excellent community theater in Bedford. In a couple of years some folks will be kicking themselves that they didn’t buy when they could.

There are indeed some real bargains north of the Merritt, but I suspect there will be more of them in the years to come, not fewer.