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Pandemic | From 'Urb to 'Burb Blog

Wednesday, August 5, 2020   /   by Vanessa Saunders

Six reasons your house isn't selling in the Hudson Valley's hot sellers market.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
If you’ve listed your home to sell, and it’s had showings after showings with no offers, there must be a reason. In the current Hudson Valley’s hot seller’s market, even white elephants - homes that have been listed for months (even years!) are being snapped up by eager buyers. Some buyers are making ridiculous offers over listing price just to get their foot in the door.
The fact is, a home that isn't selling is actually costing the owner money. Statistically, a home that sells in the first 30 days on the market sells for the most amount of money. The longer a listing sits, the less it sells for. If a home has spent too many days on the market, this “stale” listing is often interpreted to be damaged goods, as buyers speculate that there is something wrong which made the property hard to sell to previous buyers.
So, you have a problem. Here are six of the most co ...

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  hudson valley real estate, hudson valley home, hudson valley home owners, 'urb to 'burb, sales strategies, pandemic, house pricing, bidding war

Tuesday, August 4, 2020   /   by Vanessa Saunders

Turn around and don't drown!

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Seeing the storm warnings on the news brings back memories of losing our home to Hurricane Sandy's coastal flooding. The hurricane caused enormous damage, but at least in our area, no deaths. Nationwide, flooding causes more deaths annually than do hurricanes, tornadoes and lightning. Flash floods are very dangerous and can strike with little to no warning.
Here are things to do and not to do as Tropical Storm Isaias approaches.
TO DO.
Make a plan.
Make an emergency plan before it hits, especially if you are located in a coastal area or flood plain. Plans should include an escape route via roads on high ground, and pack essential items like batteries, cell phones (fully charged and with extra batteries), and food.
Know when to go.
Evacuation is not always a good idea. Sometimes it's more dangerous to go through flooded areas than it is to stay where you are. Instead, find a safe, high point, an ...

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  hudson valley real estate, 'urb to 'burb, pandemic, health crisis, hurricane, flooding

Thursday, July 30, 2020   /   by Vanessa Saunders

Renters will be screwed when Pandemic Compensation Program ends.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.


Tomorrow, July 31st, is the deadline for the Federal Pandemic Unemployment Compensation (FPUC) program to end, unless congress decides to do something to extend or re-structure it. If not, upwards of about 30 million unemployed Americans who are receiving benefits will lose $600 per week. What does this mean?


For one, a lot more people renting a place to live will be screwed.


The percentage of renter households facing a severe housing burden will increase from about 3 percent of renter households to 41 percent. (Severely housing burdened means they are paying more than 50 percent of their income toward rent.)


Add to this the fact that the federally mandated evictions moratorium on is also set to expire soon. The combination of these two events bodes ill for millions of Americans who are already under significant stress. Expect a sharp spike in evictions in the next few months ...

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  hudson valley real estate, hudson valley home, 'urb to 'burb, buying vs renting, pandemic, health crisis, saving the world, rentals

Tuesday, July 28, 2020   /   by Vanessa Saunders

The clock is ticking on unemployed Americans with mortgages to pay.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
As politicians in our legislatures grind on trying to agree on how much less out-of-work Americans can receive in unemployment payments, the clock is ticking for home-owners trying to figure out a way to make the mortgage payment next month. For those of you who have never been in this situation, this is a reminder that you do have options to get help.
Temporary Mortgage Relief Due to Coronavirus Pandemic
In response to the Coronavirus pandemic, under the CARES Act, the owners of single-family homes with federally-backed mortgages can get two types of financial help.
Eviction and Foreclosure Moratorium
An eviction and foreclosure moratorium that went into effect on March 18, 2020, has been extended again. It now continues until August 31, 2020. During that time, homeowners:
-Will not be charged late fees
-Will not be evicted from their homes
Lenders:
-Will not initiate foreclosure proceedings ...

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  hudson valley real estate, hudson valley home owners, 'urb to 'burb, financing, pandemic, mortgage, fha, unemployment, veterans, rent moratorium

Friday, July 24, 2020   /   by Vanessa Saunders

Guess what's threatening to kick down home prices this fall.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
A sales report released Thursday by Corelogic showed real estate activity in the Hamptons setting an all-time high for the area's median home selling price. Buyers furiously raced to buy properties and drove the median up 27% in the second quarter. All this while the number of transactions fell by 13%, a sure sign that homeowners in New York are holding onto their homes, causing an inventory shortage as they wait for prices to rise further to meet demand. The Hudson Valley reflected similar, if less dramatic price increases as it dealt with its own inventory shortages.
So why are some experts worrying about a price decline this fall?
Curbed, an American real estate and urban design blog network, reported today that the legs beneath the stool keeping prices up may be kicked away come October, affecting prices into 2021. They blame it on the Coronavirus pandemic. Says Curbed, "The belated decline would ...

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  hudson valley real estate, hudson valley property, hudson valley home, 'urb to 'burb, housing sales inventory, pandemic, the future of real estate

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 One Key, 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 One Key, 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.
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