Friday, January 24, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
If you’re planning a transition into a smaller home, or even a tiny one, the twin trends of low mortgage rates and rising home equity can kick-start or boost your plans, especially if you’re anticipating retirement soon or just want to live in a smaller home that’s easier to maintain.
Home values have been increasing for 93 consecutive months, according to the National Association of Realtors. If you’re a homeowner, particularly one looking to downsize your living space, that’s great news, as you’ve likely built significant equity in your home.
Here’s some more good news: mortgage rates are expected to remain low throughout 2020 at an average of 3.8% for a 30-year fixed-rate loan.
The combination of leveraging your growing equity and capitalizing on low rates could make a big difference in your housing plans this year.
How to Use Your Home Equity
For move-up buyers ...
Wednesday, January 15, 2020 / by Vanessa Saunders
Five critical disadvantages most people face in selling a home themselves.
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Rising home prices coupled with the current inventory in today’s market may cause some homeowners to consider selling their homes on their own (known in the industry as a For Sale By Owner). However, a FSBO might be hard to execute well for the vast majority of sellers.
Here are the top 5 disadvantages owner face when selling their home on their own:
1. Online Strategy for Prospective Purchasers
Studies have shown that 93% of buyers search online for a home. That’s a pretty staggering number! Most real estate agents have an Internet strategy to promote the sale of your home. Do you?
2. Results Come from the Internet
According to NAR, here’s where buyers looked for the homes they actually purchased:
55% on the Internet
28% from a Real Estate Agent
6% from a Yar ...
Tuesday, December 31, 2019 / by Vanessa Saunders
Kiplinger published some research recently after surveying home buyers and industry leaders about features they most want in a home. This info is of particular interest to home sellers considering whether to "upgrade" features in their home before they put it on the market. While cost to value ratios never increase the selling price enough to pay for the project, focusing on a few of these features where needed can help sell a home faster.
Percentage of buyers who want this feature: 91%
Cost to install: $1,000 to $5,000 for a small-scale project
More than anything else, homeowners want a room other than the guest bedroom to stack all the clean laundry in until it finally gets put away. A separate laundry room tops the National Association of Home Builders' (NAHB) list of most-wanted home features by buyers.
Green Energy Efficient Appliances and Windows
Percentage of buyers who want this feature: 89%
Cost to install: Varies ...
Friday, December 20, 2019 / by Vanessa Saunders
New York residents can sleep soundly now, knowing that the governor and the legislature have moved to outlaw zombies in the Empire State.
The bill, however, is not intended to keep roving bands of the living dead off our streets and from eating our brains. On Wednesday, Dec. 18, New York Gov. Andrew Cuomo signed into law the Zombie Property Remediation Act of 2019 which gives municipalities the ability to force mortgage lenders to either foreclose abandoned properties or to issue a certificate discharging the mortgage.
So-called Zombie properties are homes or buildings that have been abandoned by their owners before banks have finished foreclosing on them. In many cases, according to Hudson Valley politicians and fire officials, these homes have little value, and banks will take years to finish the paperwork. In the meantime, such properties fall apart, or burn down. They deplete surrounding property values, but all too often foreclosed and un-maintained residences are ...
Thursday, December 19, 2019 / by Vanessa Saunders
Global Property Systems operates as a real estate team for our buyers and sellers in the Hudson Valley. We are structured this way because the benefits for clients of working with a real estate team are many. Clients benefit from the knowledge and wisdom of many skilled professionals who bring their own area of expertise and specialization. There are many facets to the process, and working with a team can make buying a home extremely efficient. Teams also excel in one vital area, helping first-time home buyers.
Here’s how we help newbies and how teamwork can improve the home-buying experience for those going through it for the first time.
First we teach.
1. First-time buyers can be a challenge, but we find them great to work with because of their excitement and enthusiasm. First time buyers are usually full of questions, making us more teacher than realtor.
Early in the process, we schedule a sit down meeting to educate the buyer on the different fac ...