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Selling Your Home | From 'Urb to 'Burb Blog

Friday, July 31, 2020   /   by Vanessa Saunders

The "As is" house: How to buy a unicorn.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
http://www.globalpropertysystems.com
The consequences of having a sellers market during a severe housing shortage has caused some crazy things to happen in the world of real estate. Yesterday, I had a client offer to buy a property "As Is." The buyer did it to strengthen his offer without raising his offer price. I had to explain the ramifications of such a decision.
Buying "As is" means, obviously, that whatever may be wrong with a house, the buyer is willing to accept the house without it being contingent on a good inspection. "As is" homes are increasingly popping up for sale on the market. Often, they are priced lower than other similar properties and as such, are tempting targets for buyers looking for a unicorn - a perfectly good house being sold at a bargain price. Like unicorns, the existence of such homes is mostly fantasy.
When sellers list their homes "As is," there's usually a reason. ...

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  hudson valley real estate, hudson valley home, buying a home, home investment, 'urb to 'burb, hudson valley home sellers, selling your home, first time home buyer

Wednesday, July 29, 2020   /   by Vanessa Saunders

The "A" in Zillow stands for "Accuracy."

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


If you're using Zillow to find out what your house is worth, you won't get a very accurate price. After all the years Zillow has been "Zestimating" home values, it still hasn't got it right. Who should know this better than Realtors, who value homes every day? A new survey from real estate software firm W+R Studios indicates that very few Realtors use Zillow's "Zestimates" in preparing a Comparative Market Analysis for home pricing.


W+R Studios sent the survey to its 298,520 Cloud CMA agent and broker subscribers, of which 3,325 completed the survey. Survey respondents were from 46 states nationwide. The survey, which has a margin of error plus or minus 2 percent found that nearly two-thirds (62.4 percent) of survey respondents said they “seldom” or “never” include Zestimates in their CMA reports.


An even higher share of respondents, 67.8 perce ...

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  hudson valley real estate, hudson valley home, 'urb to 'burb, hudson valley home sellers, selling your home, hudson valley house, sales strategies, house pricing, zillow

Wednesday, July 22, 2020   /   by Vanessa Saunders

Realtors say the end may be near. Thank goodness.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Second quarter home sales reportedly hit the predicted slump, but were high enough to suggest Q3 numbers may surge. Hudson Valley real estate brokers struggled with restrictions to battle the coronavirus pandemic in New York State, during Gov. Andrew Cuomo’s “New York on Pause” process. Agents were forced to conduct business online and show homes virtually. New York State permitted notary services online and attorneys conducted business in parking lots, in tents and between cars.
According to the July report by OneKey™ Multiple Listing Service LLC, home sales were down 39.8% in the Bronx; 27.9% and 27.4% in Orange and Westchester counties respectively, and 6.2% lower in Putnam County, as compared to Q2 of last year.
The report concluded that although sales in the second quarter were down, "real estate brokerage executives believe that since the home sales market entered the ...

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  hudson valley real estate, hudson valley home, 'urb to 'burb, selling your home, housing sales inventory, first time home buyer, pandemic, the economy, health crisis, the future of real estate, saving the world

Tuesday, July 21, 2020   /   by Vanessa Saunders

Another suspect keeping houses for sale off the Hudson Valley market.

We wrote yesterday about the factors keeping homes for sale off the Hudson Valley real estate market. We named six "suspects" causing the dearth of housing inventory. There's one more:
30 year fixed rate mortgage interest rates that recently fell below 3%.
Freddie Mac’s nationwide survey of mortgage rates, released on Thursday, July 16th, showed the average on a 30-year mortgage at 2.98 percent, the first time this key rate has fallen below 3 percent since the government-backed mortgage finance firm began publishing the data in 1971. But unfortunately for home buyers in the Hudson Valley, mortgage rates so deliciously low have caused many existing homeowners to to refinance and stay put.
Mark Fleming, the chief economist at First American said in an appearance on Yahoo Finance, "I never thought I’d be able to say that a 30-year fixed-rate mortgage would be less than 3 percent but now we have it,” Fleming said. “That is in large part because of the economic ...

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  hudson valley real estate, hudson valley property, hudson valley home, hudson valley home owners, housing sales, selling your home, housing sales inventory, financing, pandemic, mortgage, bidding war

Friday, July 17, 2020   /   by Vanessa Saunders

Sellers: 4 DIY home improvement projects to do during Covid.

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

If you're thinking about selling your home but don't like the idea of having home improvement workers in your house during Covid, you're not alone. But based on the number of closings we've been seeing, Hudson Valley home owners are still putting their homes on the market. Many are wisely taking advantage of the current real estate market - we are in an unprecedented and rare "seller's market," with little competition and buyers snapping up everything in sight.
So what projects can you do yourself to spruce up the homestead before listing it for sale? Here's four to get you started that will add a lot of appeal to your home, and also not break the bank.
1. Do a little gardening.
What's not to like about a little yard work, outdoors in the fresh, clean air? It's an easy and inexpensive way to add curb appeal for that all important first impression. A neat and tidy yard not only has an aesthet ...

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  hudson valley real estate, hudson valley home, hudson valley home owners, hudson valley home sellers, selling your home, housing sales inventory, sales strategies, downsizing

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 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 for sale or lease on this web site comes in part from One Key, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the One Key, Inc 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 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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