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Housing Sales Inventory | From 'Urb to 'Burb Blog

Friday, January 17, 2020   /   by Vanessa Saunders

Who stole all the homes for sale in the Hudson Valley market? Pirates?

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


It wasn't pirates, but it might as well have been. The market is currently at the lowest it's been since 2017 for homes available for sale, and it doesn't look like 2020 will be much better. 



One good thing is that mortgage rates remain at historic lows also. But the big challenge to the housing industry is the lack of homes available for sale. Last week, move.com released a report which stated:


“Last month saw the largest year-over-year decline of housing inventory in almost three years with a dramatic 12 percent decline, pushing the number of homes for sale in the U.S. to the lowest level since January 2018.”
The report also revealed that the decline in inventory stretches across all price points, as shown in the following graph:George Ratiu, Senior Economist at realtor.com, explains how this drop in available homes for sale comes at a time when more buyers are expected to enter ...

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  hudson valley real estate, hudson valley property, hudson valley home, buying a home, hudson valley home owners, hudson valley home sellers, housing sales, westchester county, rockland county, ulster county, sullivan county, selling your home, housing sales inventory, hudson valley house, manhattan, dutchess, mortgage rates, first time home buyer, bidding war, manhattan real estate, condos

Wednesday, January 15, 2020   /   by Vanessa Saunders

Pre-fab mini-home comes with a mini-price: $19,000.

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


As median home prices continue to surge and the shortage of homes for sale grinds on in the Hudson Valley real estate market, buyers are taking a second look at alternative housing options. Not surprisingly, modular and pre-manufactured homes are an option for some. Unlike pre-fab homes from the past, Singapore manufacturer Nestron makes mini-homes that are both inexpensive, and smart in style and technology.
Nestron recently showcased four different prefab options which come with a built-in artificial intelligence assistant named Canny that controls lighting, heating and security.


Prices start at $19,000 for the baseline Cube model to $59,000 for the top-of-the-line Legend. All four models include one bedroom, one bathroom, a kitchen and living space, all fully furnished with custom  dining table, sofa, TV, built-in bed rack, wardrobe, washing machine, and a water heater. 
All four models ...

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  hudson valley real estate, hudson valley property, hudson valley home, buying a home, orange county ny, 'urb to 'burb, westchester county, rockland county, ulster county, sullivan county, housing sales inventory, hudson valley house, dutchess, mortgage, blockchain

Monday, January 6, 2020   /   by Vanessa Saunders

How S.A.L.T. shook up Hudson Valley real estate in 2019.

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

When the ball at Times Square dropped to announce 2019 last January, people in the real estate community were apprehensive about the upcoming twelve months. There was plenty to be worried about.  There was a serious drought of listing inventory in 2018, and it didn't look as if there was anything on the horizon promising to kick more homes on the market. New York and New Jersey had been battling back from ten years of recession, and mortgage rates had started to rise. Even the weather was against us.

Half-way through the year, the scenery hadn't changed much, but it had brightened slightly. One bit of good news was that interest rates dropped back into the threes. As of June 2019, the benchmark 30-year fixed-rate mortgage fell to 3.99 percent from 4.04 percent, according to Bankrate’s weekly survey of large lenders. The year before, it was 4.70 percent. 

But the 800-pound gorilla in the roo ...

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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, housing sales, orange county ny, 'urb to 'burb, rockland county, westchester county, ulster county, sullivan county, housing sales inventory, hudson valley house, manhattan, mortgage rates, dutchess, first time home buyer, executive homes, manhattan real estate

Thursday, November 21, 2019   /   by Vanessa Saunders

Millennials: Have you used this one simple hack to buy a house?

Maybe some of you saw the CBS "Eye on Money" segment this morning about why Millennials aren't buying homes, and may not own a home in their lifetimes. (If you didn't you still can. Click HERE.) CBS Business Analyst and long time financial adviser Jill Schlesinger went over a litany of the reasons why Millennials can't find and buy a house, all of which we have addressed often in this space. She mentioned how Millennials can't afford the rising cost of houses, how they are burdened with huge student debt and how they can't find a suitable first home because of the lack of homes on the market. Admittedly, these are all serious problems. 

But maybe there's one solution Millennial home shoppers haven't tried. 

Get a good REALTOR®.

A REALTOR®, a trained professional, is in the business of matching up homes with buyers, and is committed to looking after the financial welfare and housing needs of their clients. But more than that, a good REALTOR® (and that is ...

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  hudson valley real estate, hudson valley property, hudson valley home, home investment, buying a home, hudson valley home sellers, 'urb to 'burb, housing sales inventory, why work with a realtor, making an offer on a house, buying vs renting, mortgage

Wednesday, November 20, 2019   /   by Vanessa Saunders

Are you ready to put your home on the market?

Inventory on the market today is low, especially among existing homes in the entry and middle-level tiers of the market. It is hovering well below the 6-month supply typically found in a more normal market, as shown in the graph below:





With inventory being one of the biggest housing market challenges today, finding a starter home right now isn’t easy. According to the Q3 Housing Trends Report from the National Association of Homebuilders (NAHB), 68% of those searching for a home think their search will get harder or stay about the same over the next 12 months.


The same study reveals,


“In Qtr3’19, buyers actively engaged in the process of buying a home are more likely to have spent at least 3 months searching (58%) than a year earlier (55%).”


 This is certainly no surprise, given the current inventory status. So, what’s the good news? The NAHB continues to say,


“If still unable to find a home in the next few m ...

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  hudson valley real estate, hudson valley home, home investment, hudson valley home owners, hudson valley home sellers, housing sales, 'urb to 'burb, housing sales inventory

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

image001.png The data relating to real estate for sale or lease on this web site comes in part from HGMLS. Real estate listings held by brokerage firms other than are marked with the HGMLS 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 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.