Monday, June 1, 2020 / by Vanessa Saunders
From Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Finally when you thought you couldn't bear another blog about Corona Virus, social distancing and PPDs, here's a good one. It's from T3-Sixty, a monthly brief providing analysis on the most important trends and developments in real estate, as well as a quick digest of the most notable news in the industry.
In this case, it's about real estate recovery, and the opinions of four prominent economists (you may even have heard of some of them) about when and how the real estate market will return to pre-crash levels. This blog is a summary of the full article.
Interviewed are Lawrence Yun, NAR chief economist; Skylar Olsen, Zillow senior principal economist; Michael Fratantoni, Mortgage Bankers Association chief economist; and Danielle Hale, realtor.com chief economist. Each is asked the same three questions:
1. What key stats are you watching in assessing a recovery?
2. When will the market turn ba ...
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hudson valley real estate, hudson valley property, hudson valley home, hudson valley home sellers, 'urb to 'burb, orange county ny, housing sales, westchester county, rockland county, ulster county, sullivan county, selling your home, hudson valley house, dutchess, housing sales inventory, pandemic, health crisis, unemployment
Tuesday, May 12, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Social distancing and unessential businesses aside, it is still possible to sell or buy a house in the Hudson Valley. Even though we are restricted in how we go about it, we have transacted real property throughout the pandemic shutdown within the parameters of viral quarantine. You can still buy or sell a house.
The Facts
People are listing their homes for sale every day. Lawrence Yun, chief economist for the National Association of Realtors estimated this spring would see a 10% drop in home sales. Ten percent is a big number nationally. But the Hudson Valley is uniquely positioned to be highly sought after by New York City buyers looking for a way out of the city, either temporarily or permanently.
Besides that, a 10% loss means that 90% of transactions which would have happened without the shutdown will still happen. Why? Because the real estate industry is adapting to the new normal. More agenci ...
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hudson valley real estate, hudson valley home, buying a home, hudson valley home sellers, 'urb to 'burb, selling your home, housing sales inventory, mortgage rates, first time home buyer, mortgage, bidding war, the economy
Wednesday, May 6, 2020 / by Vanessa Saunders
If you’ve had your home for sale on the Hudson Valley real estate market recently and it didn’t sell, there must have been a reason. Do you know what it was? Even in these hard times, we are selling homes. In fact, considering the few houses on the market and the many people looking for a home, it’s a great time to list. We can sell your house because we do real estate differently. CONTACT US at Global Property Systems Real Estate to discuss how.
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hudson valley real estate, hudson valley home sellers, 'urb to 'burb, housing sales, selling your home, sales strategies, pandemic
Thursday, April 30, 2020 / by Vanessa Saunders
From Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
April 30, 2020
Congratulations! If you are thinking about selling your house this year, you’ll probably get more for it than you paid. It’s going to be another seller's market, with a shortage of homes to buy and lots of buyers competing with each other to win a bidding war. You’re one smart seller.
You may be worried about capital gains taxes. Currently the capital gains tax is 15% of the profit a property owner makes from the sale of their property. For example, if you sold your house for $200,000 more than you paid for it, you’d owe Uncle Sam $30,000 in capital gains. Also, there was an additional tax of 3.8% added in 2013 to help pay for changes in Medicare, so add another $7,600 in investment income tax in this scenario.
Sure takes the shine off that bundle you made from selling at a profit, doesn’t it?
There is one exception which makes a seller exempt from c ...
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hudson valley real estate, hudson valley property, hudson valley home, hudson valley home owners, hudson valley home sellers, housing sales inventory, sales strategies, capital gains taxes, capital gains tax exclusion
Wednesday, April 22, 2020 / by Vanessa Saunders
From Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
April 22, 2020
The Novel Coronavirus has all but put the Hudson Valley real estate market “on pause” with Realtors forced since March 22 to navigate a myriad of regulations, including virtual showings only, to close residential transactions.
A recently released report by OneKey Multiple Listing Service indicated that the market area of the Hudson Gateway Association of Realtors entered the pandemic that took hold in March on a very strong note, with mostly higher sales and higher sale prices.
Westchester County experienced a 7.2% increase in single-family home sales with 1,055 sales compared with 984 sales in the first quarter of 2019. Rockland County had an increase of 15% with sales of 452 units compared to 393 units in the first quarter of 2019. Putnam County sales were up 8.7% at 224, Sullivan County single-family sales rose 6.1% to 209 units and Bronx County (not officially ...
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hudson valley real estate, hudson valley home, 'urb to 'burb, housing sales inventory, pandemic
