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House Pricing | From 'Urb to 'Burb Blog

Tuesday, January 14, 2020   /   by Vanessa Saunders

There's a surprise inside half the condos in those skinny luxury Manhattan towers.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems


You know all those ultra-slender, ultra-fancy tower condominiums that have been popping up out of the Manhattan concrete since 2015? Next time you look at one, bear in mind that half the condos in them are empty. Surprise! No buyers, according to Nancy Packes Data Services. The other half are probably Starbucks that have gone vertical. 

The reason for all the empty rooms over Manhattan: a combination of overly aggressive pricing and a growing public disdain for the skyline-disrupting mansions in the clouds. But really, it's all about pricing.

Comparing the prices of new development units to resale units over the last decade tells the story. In 2012, new units sold for a 22% higher prices than resale units. At the end of last year, the premium was 118%. 

Nancy Packes lists three reasons for the “extraordinary oddity of the current cycle. ”  

According to Packes, buil ...

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  westchester county, manhattan, executive homes, house pricing, manhattan real estate, westchester home for sale, manhattan coop, central park west, condos, westchester condo, coops, manhattan skyline

Friday, January 3, 2020   /   by Vanessa Saunders

Five factors that determine how fast you sell your Hudson Valley home.

When home owners put a house on the market, they never know how long it will take to sell. Not all homes are created equal, and it's often hard to say whether one will be snapped up, or languish on the market. That said, the following are five factors that can seriously influence whether a house will sell quickly.

1. Asking Price
Finding the right price is partly based on research, and partly based on the experience of your REALTOR®. Appraisers can prepare comparative market analyses all they want, but there's nothing like having a REALTOR® with serious "boots on the ground" experience to fine-tune a price that will excite other REALTORS® and get buyers through the door. That's what gets homes sold quickly. 

2. Location, Location, Location
We've all heard that one before, but what a neighborhood is like - posh or plain - and what amenities are near by will always be a factor that you can't control. 

3. What's the Competition?
When you put your home o ...

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Wednesday, October 30, 2019   /   by Vanessa Saunders

Four reasons the Fed's accusation of REALTORS®' non-transparency is wrong.

A report just out from the Consumer Federation of America slams real estate brokers for failing to be forthright and transparent about how much in commission they charge their brokerage clients.

According to Inman News, the nation's leading real estate news service, "The report is based on a survey of 2,000 Americans, as well as conversations with 200 agents located in 20 metros and an analysis of 263 agent and broker websites across four markets.

According to the study, only 32 percent of Americans know an agent’s typical commission, which it claims is 4 to 6 percent of the selling price. Of the 453 respondents who’ve bought or sold a home within the past five years, only 44 percent knew the typical commission."

The CFA maintains that “the U.S. Department of Justice can increase cost transparency by investigating the buy-side commissions to which home buyers do not have access, and it appears to be doing so.”

In our opinion, this report is unfai ...

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  hudson valley real estate, hudson valley property, making an offer on a house, first time home buyer, house pricing, commercial property, real estate scams

Thursday, October 24, 2019   /   by Vanessa Saunders

The one little-known home pricing factor that can scare away buyers.

We have preached here often about correctly pricing a Hudson Valley home for sale. Sellers should know how an overly-optimistic price can drive away buyers no matter how great the marketing. We've tried to pound home how important using comps and the expertise of a local area real estate specialist is in getting an idea of fair market value. 

But one of the most overlooked factors sellers should consider is understanding how a search works in their particular market. What does that mean? This story should explain. 

Let's say a Hudson Valley home owner believes his house is worth $410,000 because a neighboring home with the same floor-plan just sold a few blocks down the street for $400,000. But his home has a better location in a cul-de-sac and should sell for more, in theory. In reality, it would be a major mistake to price the property at $410,000. The reason being is that many real estate marketplaces such as Trulia and Zillow use search filters and the $400,000 ma ...

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  hudson valley real estate, hudson valley property, hudson valley home, hudson valley home sellers, housing sales, selling your home, house pricing, halloween, ghosts and ghouls

Wednesday, October 9, 2019   /   by Vanessa Saunders

Thinking of selling your Hudson Valley home? Don't sleep through the next housing shortage!

Think the housing inventory shortage is bad now? Just wait a few months. According to a study just released by realtor.com, "A seismic inventory shortage may be on the way."  Realtor.com Senior Economist George Raitu said in a prepared statement, “While lower mortgage rates and the arrival of fall promised a reprieve, conditions continue to tighten as demand remains strong. September inventory trends, especially in the mid-market, may be the canary in the coal mine that we could be headed for even lower levels of inventory in early 2020.” 



Inman News, the leading source of news for the real estate industry reported on the study yesterday. They explained the reason for the prediction, saying, "Increased buyer demand purred by historically low mortgage rates caused sizable drops in available inventory in starter homes priced under $200,000 and mid-market homes priced between $200,000 and $750,000. In September 2019, the starter home market experienced a 10 ...

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  hudson valley real estate, hudson valley property, hudson valley home, home investment, hudson valley home owners, hudson valley home sellers, selling your home, 'urb to 'burb, hudson valley house, house pricing

Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258

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The information appearing herein has not been verified by the Hudson Gateway Multiple Listing Service, Inc. or the Hudson Gateway Association of Realtors, Inc. or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

©2020 Hudson Gateway Multiple Listing Service, Inc. All rights reserved.

The data relating to real estate for sale or lease on this web site comes in part from MHMLS. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the MHMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. The information appearing herein has not been verified by the Mid-Hudson Multiple Listing Service, Inc. or by any individual(s) who may be affiliated with said entity, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose. ©2020 Mid-Hudson Multiple Listing Service, Inc. All rights reserved.
The data relating to real estate on this website comes, in part, through the IDX of the Multiple Listing Service of Ulster County, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the IDX logo and detailed information about them includes the name of the listing broker.