Tuesday, January 26, 2021 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Considering the number of people we’ve encountered recently who are speculating on where the real estate market will go in 2021, it probably should be designated an Olympic sport. One thing’s for sure. The financial pressures we are experiencing today are felt by not just homeowners, investors but lenders as well.
The last time this happened was 2007, when the market crashed and many homeowners were “under water” with mortgages carrying negative equities. For those predicting the market these days, now may look like another 2007, but this time, it’s different. Real estate still remains strong. Property values have gone up and seem to keep rising, and there are many fewer properties with negative equity.
Still, many Americans have lost jobs, and subsequently lost their ability to keep current on their debts: consumer debt, car loans, school loans, etc. as well as mortga ...
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hudson valley real estate, hudson valley property, hudson valley home, 'urb to 'burb, home investment, hudson valley home owners, the economy, health crisis, forbearance, forclosure
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
Friday, January 8, 2021 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
For some reason, in 2020 I came across more hoarder houses in the Hudson Valley than I have in my entire 20-year real estate career. Maybe it's due to depression caused by Covid-19 lockdowns, people's lack of social contact or all the uncertainties that we have been through during the last year. Perhaps some people find comfort in having their "stuff" around, even though it creates unpleasant situations (to others) and often dangerous living conditions which can become life-threatening.
I usually run across hoarders because family members need to get the hoarder into a better living arrangement and need to sell the house to finance it. Others have inherited a hoarder house after the relative living in it has passed. Whatever the reason, hoarder houses present an entirely different set of challenges than day-to-day real estate.
Hoarding as a psychological disorder.
According to the US National Libr ...
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hudson valley real estate, hudson valley property, 'urb to 'burb, home investment, selling your home, sales strategies, hoarder houses
Friday, December 18, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
National housing policy will hold a much higher priority in the Biden White House than it was with the previous tenant. Jim Parrott, a nonresident fellow at the Urban Institute, said housing is 'not an abstraction' for the president-elect. Parrott was keynote speaker at the National Association of Realtors' Real Estate Forecast Summit on December 10th, 2020. Parrott served as a senior adviser to the National Economic Council during the Obama administration where he led the team counseling the cabinet and the president on housing issues. Before that, he was counsel to U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan.
Affordable housing a priority.
Parrott said that he felt the Biden team will see more affordable housing, for both buyers and renters as a goal worth taking on in and of itself, as a part of broader economic challenges. Biden views the lack of affordable ho ...
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hudson valley real estate, 'urb to 'burb, home investment, housing sales, housing sales inventory, mortgage, the economy, fha, taxes, capital gains taxes, capital gains tax exclusion, 1031 like-kind investment
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
