Wednesday, March 17, 2021 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
If you watched the Hudson Valley real estate market in 2020, you’ve probably heard of some crazy things happening. Bidding wars, houses sold for all cash, buyers releasing all contingencies and homes going for WAAAY over asking price. Well here’s the latest contender for craziest Hudson Valley real estate deal this year.
An unassuming colonial home (PHOTOS) was reported by the Albany Times Union newspaper to have sold for the highest percentage over asking price ever in Dutchess County. Located in Red Hook, the property has six bedrooms, three full baths and is just over 3,000 square feet. It’s on an eight acre wooded lot and features an outdoor swimming pool and patio.
The sellers used a particularly unorthodox strategy for landing that whopper of an offer on this 1840’s home. According to the Times Union, the seller did not accept any offers on the home for the f ...
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Tuesday, March 16, 2021 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
We’ve talked a lot in this blog about the seller’s market currently driving Hudson Valley real estate sales. With so few homes for sale (inventory) and so many buyers competing for them, it takes a well prepared buyer to stand out from the crowd. The following tips will help you make a confident and informed offer, while avoiding some of the most common pitfalls.
Don’t buy based on emotions.
Buying a home is a business deal, not a love affair. Yes, you should “fall in love” with the home you finally select, but don’t ignore red flags that signal trouble ahead. Rely on your Realtor to be the voice of reason. After all, it’s as much their job to tell you what’s wrong with a house as it is to point out what checks all your boxes.
Get a mortgage pre-approval.
Having an agreement with your lender that you are already approved for a mortgage up to a certa. ...
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hudson valley real estate, hudson valley property, hudson valley home, 'urb to 'burb, buying a home, hudson valley home sellers, housing sales inventory, hudson valley house, first time home buyer, making an offer on a house, bidding wars
Wednesday, March 10, 2021 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
It's never wise to try to predict a change in the Hudson Valley real estate market. But when you look at three key factors that will be affecting Hudson Valley home sales this spring, it seems obvious to me there’s a storm on the horizon. Whether you are a buyer or a seller, you should be prepared.
Factor 1: Last Year's Anxious Home Buyers
Many people trying to buy homes in late 2020 and winter of 2021 found nothing but frustration. Because there were so few homes on the market, the competition for good ones was intense. We saw (and continue to see) bidding wars, crazy prices and even crazier offers. Most winning bids involved cash, waived contingencies, and offers well beyond lender appraisals.
You can bet that buyers in the Spring 2021 market will come out swinging, ready to pounce on whatever properties suit their needs. There will still be work-from-home buyers reaching for suburban and ; ...
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hudson valley real estate, hudson valley property, hudson valley home, 'urb to 'burb, buying a home, hudson valley home owners, hudson valley home sellers, housing sales inventory, mortgage rates, making an offer on a house, new listing
Tuesday, February 2, 2021 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
I heard one of our Realtors exclaim this morning, "There's a buyer for every home for sale in the Hudson Valley right now." He was referring to the state of the housing market here. Like the rest of the nation, sales of Hudson Valley residential properties have started the new year at a fast moving pace.
The surge in demand for homes has exacerbated the inventory shortage throughout the region. During the four weeks ending January 21, pending sales in rural areas were up 43.5 percent, while in suburban areas they were up 35.1 percent, as well as 32.4 percent in urban areas. New listings were down by 10 percent year over year, the largest drop in seven months.
The biggest driver of the housing shortage nationally is the scarcity of suburban and rural properties. Many homeowners are happily staying put, and what homes do come available are quickly snapped up. Suburban and rural homes are still attrac ...
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hudson valley real estate, hudson valley property, hudson valley home, 'urb to 'burb, hudson valley home sellers, housing sales, housing sales inventory
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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