Wednesday, March 17, 2021 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
If you watched the Hudson Valley real estate market in 2020, you’ve probably heard of some crazy things happening. Bidding wars, houses sold for all cash, buyers releasing all contingencies and homes going for WAAAY over asking price. Well here’s the latest contender for craziest Hudson Valley real estate deal this year.
An unassuming colonial home (PHOTOS) was reported by the Albany Times Union newspaper to have sold for the highest percentage over asking price ever in Dutchess County. Located in Red Hook, the property has six bedrooms, three full baths and is just over 3,000 square feet. It’s on an eight acre wooded lot and features an outdoor swimming pool and patio.
The sellers used a particularly unorthodox strategy for landing that whopper of an offer on this 1840’s home. According to the Times Union, the seller did not accept any offers on the home for the f ...
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hudson valley real estate, hudson valley property, hudson valley home, 'urb to 'burb, buying a home, hudson valley home sellers, housing sales, selling your home, hudson valley house, first time home buyer, sales strategies, upstate ny, house pricing, bidding war
Tuesday, March 16, 2021 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
We’ve talked a lot in this blog about the seller’s market currently driving Hudson Valley real estate sales. With so few homes for sale (inventory) and so many buyers competing for them, it takes a well prepared buyer to stand out from the crowd. The following tips will help you make a confident and informed offer, while avoiding some of the most common pitfalls.
Don’t buy based on emotions.
Buying a home is a business deal, not a love affair. Yes, you should “fall in love” with the home you finally select, but don’t ignore red flags that signal trouble ahead. Rely on your Realtor to be the voice of reason. After all, it’s as much their job to tell you what’s wrong with a house as it is to point out what checks all your boxes.
Get a mortgage pre-approval.
Having an agreement with your lender that you are already approved for a mortgage up to a certa. ...
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hudson valley real estate, hudson valley property, hudson valley home, 'urb to 'burb, buying a home, hudson valley home sellers, housing sales inventory, hudson valley house, first time home buyer, making an offer on a house, bidding wars
Tuesday, January 12, 2021 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
If you have any plans of selling your house in the upcoming year, there are two very compelling reasons to do it sooner rather than later:
1. Right now, Hudson Valley real estate is in a phenomenally strong seller's market.
2. This thing won’t last forever.
There. That’s your warning.
The reasons this unusual situation exists are many, and we’ve discussed them here many times. If you’re a seller, you don’t need to know the reasons. Just get your house on the market. NOW.
Lawrence Yun, Chief Economist for the National Association of Realtors wrote recently about how quickly homes are selling right now, further confirming the benefits to sellers: Yun says, “The market is incredibly swift this winter with the listed homes going under contract on average at less than a month due to a backlog of buyers wanting to take advantage of record-low mortgage rates.” ...
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hudson valley real estate, hudson valley home, 'urb to 'burb, buying a home, home investment, housing sales inventory, first time home buyer, pandemic, vacation property, forbearance, forclosure, finding forclosurehomes
Monday, December 14, 2020 / by Vanessa Saunders
Photo by Brennan Ehrhardt on Unsplash
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
On the day Pfizer’s approved Covid-19 vaccine hits it’s first American arm, it seems like a good idea to consider what this historic moment’s effect on real estate may be. When the virus reached the United States earlier this year, people were worried that it could devastate the country’s real estate market. For a while, as people got used to using PPEs and stayed home to avoid getting sick, things ground to a halt. But a few months later, people were scrambling to buy a home. Buyers flooded the housing market.
Now that the end of the pandemic seems to be in sight, the news has improved the industry's' spirits yet again. While the end of the pandemic won’t instantly generate a glut of homes on the market to relieve the inventory gap, it should have a significant effect on mortgage rates.
Economists agree that forecasting mortgage ...
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hudson valley real estate, hudson valley property, hudson valley home, buying a home, 'urb to 'burb, home investment, hudson valley home owners, hudson valley home sellers, housing sales, selling your home, first time home buyer, mortgage process, pandemic, financing, mortgage, the economy
Friday, October 23, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
When Lawrence (Larry) Yun, the National Association of Realtors chief economist releases a statement to the press, you know you're going to be in for a rollicking good time. This time, Larry made merry by interpreting a new set of statistics detailing the national housing market’s inventory of homes for sale, or rather, the lack of them. When I heard that, it brought to mind the line by “Flounder” in Animal House as he watched his fraternity destroy a homecoming parade in one grand final act of defiance: “This is gonna be GREAT!”
Larry’s report delivered expected news. Existing-home sales are still “growing crazy” in September, eclipsing a seasonally adjusted annual rate of 6.5 million, up 9.4 percent from August and nearly 21 percent over last year at this time. Larry puts it this way, in his inimitable style:
“Home sales traditionally taper of. ...
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hudson valley real estate, hudson valley property, hudson valley home, buying a home, 'urb to 'burb, hudson valley home owners, hudson valley home sellers, selling your home, housing sales inventory, first time home buyer
