Friday, March 13, 2020 / by Vanessa Saunders
By Vanessa Saunders Founder/CEO Global Property Systems (GPS)
Laura Castelli, Italy’s deputy economy minister, told an Italian radio station Tuesday that individuals and households will temporarily not be required to make mortgage payments, according to BBC. During the global economic crisis in 2010, the country also temporarily halted some loan payments.
Consider how this would benefit our slumping economy. A temporary moratorium on mortgages and rents for homeowners and renters would instantly put cash in the hands of most Americans without the government cutting a single check or mailing out one letter. Americans would have the cash to get our economy up and running as soon as the Coronavirus pandemic abates.
There’s actually a precedent in the U.S. for Italy’s forbearance program, but here, it’s been more focused on victims of natural disasters like hurricanes and flooding.
So far, the president’s plans for economic stimulat ...
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hudson valley real estate, hudson valley property, home investment, hudson valley home owners, financing, saving the world
Thursday, March 12, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
If you’re planning a home improvement project for spring, keep in mind the impact your project will have on your home’s value. Surprisingly, most major improvements don’t pay for themselves when it comes time to sell.
Here are some of the worst home improvements you can do in terms of their return on investment:
#5. Adding extra garage space.
Unless you don’t have a garage at all, adding to an existing one comes in as the fifth worst improvement you can make to a home. Garages are expensive to build, and some buyers are actually turned off at having room they may not need. The average garage addition only adds 60% of it’s cost to the value of a home.
#4. Master bedroom suites.
Turning the master bedroom into an ensuite by adding an adjoining full bathroom will lose up to 40% of its cost at selling time. If you’re in the mood for a major project, re ...
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hudson valley real estate, hudson valley property, hudson valley home, home investment, 'urb to 'burb, selling your home, house pricing, diy projects, fabulous renovations
Tuesday, March 10, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
The Coronavirus (COVID-19) has caused massive global uncertainty, including what we call the Corona Crash, (not to be confused with a Cinco de Mayo hangover) the global stock market correction no one could have seen coming. While much of the news has been about the effect on various markets, let’s also acknowledge the true impact it continues to have on lives and families in the Hudson Valley and around the world.
With all this uncertainty, how do you make powerful and confident decisions in regard to your real estate plans?
The National Association of Realtors (NAR) anticipates:
“At the very least, the coronavirus could cause some people to put home sales on hold.”
While this is an understandable approach, it is important to balance that with how it may end up costing you in the long run. If you’re considering buying or selling a home, it is key to educate yourself so that you c ...
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hudson valley real estate, hudson valley property, hudson valley home, buying a home, home investment, hudson valley home owners, hudson valley home sellers, 'urb to 'burb, housing sales, selling your home, first time home buyer, global investment properties, saving the world, health crisis
Friday, March 6, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems.
Interest rates and stock prices have been bouncing all over the place recently, but yesterday was a shocker.
What’s going on? We're seeing the effects of the Federal Reserve's interest rate-cutting on 10-year Treasury notes this week. The average rate on a 30-year fixed rate mortgage dropped to 3.29% this week, its lowest level... ever.
What’s going on? We're seeing the effects of the Federal Reserve's interest rate-cutting on 10-year Treasury notes this week.
First, keep in mind that 30-year mortgage rates have no free will. They move in lockstep with 10-year U.S. Treasuries. Treasury yields were already at all-time lows because of concerns the Corona Virus would hit future economic growth. (Investors buy Treasuries when they want to play it safe, and yields move inversely to prices.)
In an emergency move this week, the Fed cut interest rates,sending those Treasury yields even ...
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hudson valley real estate, hudson valley property, buying a home, home investment, 'urb to 'burb, housing sales, selling your home, housing sales inventory, mortgage rates, financing, first time home buyer, lending, fha
Thursday, March 5, 2020 / by Vanessa Saunders
Do you have plans for that fat, juicy income tax refund you'll be getting in April? Maybe you'll be booking front row seats to Hamilton, or perhaps heading to 'Vegas and putting it all on red or black? Even better, You could buy a really nice pair of jeans. The Guinness Book of World Records cites Gucci’s “Genius Jeans” as the most expensive pair of jeans in the world. They could yours!
But if you'd rather do something smart with your refund check, you might consider putting it in the bank to help fund the down payment on a home. For most Americans, that refund is enough to cover HALF your down payment. Here's how: The map below shows the average tax refund Americans received last year by state:
According to programs from the Federal Housing Authority, Freddie Mac, and Fannie Mae, many first-time buyers can purchase a home with as little as 3% down. Truth be told, a 20% down payment is not always required to buy a home, even though that’s a common mi ...
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hudson valley real estate, hudson valley property, buying a home, home investment, 'urb to 'burb, hudson valley house, mortgage process, financing, first time home buyer, mortgage, down payment, fha
