Tuesday, January 19, 2021 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
http://www.globalpropertysystems.com
Over the past few weeks, I have been speaking to many people who are concerned about the end of their post-Covid19 forbearance time. Those struggling to pay their mortgages due to the consequences of Covid19, be they parents who can’t work because they need to be at home with their children homeschooling, or the many whose jobs just fizzled out and don’t appear to be coming back because their employers have shut up shop - unable to pay their own bills. Now tax time is adding to the misery for those who don’t have their taxes prorated into their mortgages. The majority of the people I speak to are seeing their savings dwindle as the pandemic continues. Everyone is concerned that their flow of money has all but dried up, and wonder how long it will take the economy to get back on its feet.
The homeowners I have spoken to were all relieved the lif ...
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hudson valley real estate, hudson valley property, hudson valley home, 'urb to 'burb, hudson valley home owners, hudson valley home sellers, selling your home, pandemic, financing, mortgage, lending, forbearance, forclosure, covid 19, ppp loans
Friday, December 18, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
National housing policy will hold a much higher priority in the Biden White House than it was with the previous tenant. Jim Parrott, a nonresident fellow at the Urban Institute, said housing is 'not an abstraction' for the president-elect. Parrott was keynote speaker at the National Association of Realtors' Real Estate Forecast Summit on December 10th, 2020. Parrott served as a senior adviser to the National Economic Council during the Obama administration where he led the team counseling the cabinet and the president on housing issues. Before that, he was counsel to U.S. Department of Housing and Urban Development (HUD) Secretary Shaun Donovan.
Affordable housing a priority.
Parrott said that he felt the Biden team will see more affordable housing, for both buyers and renters as a goal worth taking on in and of itself, as a part of broader economic challenges. Biden views the lack of affordable ho ...
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hudson valley real estate, 'urb to 'burb, home investment, housing sales, housing sales inventory, mortgage, the economy, fha, taxes, capital gains taxes, capital gains tax exclusion, 1031 like-kind investment
Monday, December 14, 2020 / by Vanessa Saunders
Photo by Brennan Ehrhardt on Unsplash
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
On the day Pfizer’s approved Covid-19 vaccine hits it’s first American arm, it seems like a good idea to consider what this historic moment’s effect on real estate may be. When the virus reached the United States earlier this year, people were worried that it could devastate the country’s real estate market. For a while, as people got used to using PPEs and stayed home to avoid getting sick, things ground to a halt. But a few months later, people were scrambling to buy a home. Buyers flooded the housing market.
Now that the end of the pandemic seems to be in sight, the news has improved the industry's' spirits yet again. While the end of the pandemic won’t instantly generate a glut of homes on the market to relieve the inventory gap, it should have a significant effect on mortgage rates.
Economists agree that forecasting mortgage ...
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hudson valley real estate, hudson valley property, hudson valley home, buying a home, 'urb to 'burb, home investment, hudson valley home owners, hudson valley home sellers, housing sales, selling your home, first time home buyer, mortgage process, pandemic, financing, mortgage, the economy
Friday, November 27, 2020 / by Vanessa Saunders
Thanksgiving day survivors parade.
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Yesterday, people across America celebrated Thanksgiving 2020 in spite of high unemployment and an economic recession pushed by a global viral pandemic. We have been urged to celebrate holidays this year on a minimal scale, eschewing travel, virtually visiting friends and relatives while staying home. But even with all the negative things happening in the world today, celebrating Thanksgiving made me realize just how much we Realtors should be thankful for. Here are just a few:
Realtors are thankful for a thriving real estate market.
Existing-home sales in October were 27% higher than a year ago, new-home sales were 32% higher, and pending home sales or contract signings in September jumped 20.5% annually.
Realtors are thankful for low interest rates, (if they can get them).
Any added incentive for buyers is a bonus, and having mortgage rates below 3% ...
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hudson valley real estate, buying a home, 'urb to 'burb, hudson valley home owners, housing sales, mortgage rates, pandemic, the future of real estate, manhattan real estate, ny
Monday, November 16, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
It’s official. At least, if the National Association of Realtors (NAR) says it. The median price for existing homes in each of the 181 metro areas tracked by the National Association of Realtors was higher in the third quarter from a year earlier, the association said on Thursday, Nov. 12. For the first time since 1980, every metro area tracked by NAR posted an annual price increase in the same quarter. Back then, the association tracked 19 metro areas and Blondie topped the pop music charts with her hit “The Tide Is High.”
What’s going on is a perfect storm of factors that are driving up the cost of buying a home. Because so many people have been stuck inside their pandemic bomb shelters, they’re feeling like they need more space. According to Larry Yun, NAR’s top economist, ““Americans are viewing their home as something more than what it was be ...
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hudson valley real estate, hudson valley property, hudson valley home, buying a home, 'urb to 'burb, selling your home, mortgage rates, pandemic, mortgage, bidding war, the economy
