Wednesday, October 30, 2019 / by Vanessa Saunders
MLS Number: 4967787
Garage Spaces: 2
Year Built: 1951
Building Size: 1132 Square Feet
Lot Size: .5234 Acres
Charming brick ranch beautifully maintained & immaculate. One-level living at its best with sunny eat-in kitchen; spacious, light & bright living room with two new picture windows, wood-burning fireplace & mid-century archways. Hardwood floors have been well protected under the carpets; 3 large bedrooms, original bathroom with authentic tile line & vintage console sink; laundry room. Municipal water. Screened-in porch overlooking a huge level yard, lots of room to play or relax by the in-ground pool w/new liner (2016). Pristine lawns front and back. New roof (2018); detached garage has new windows, new roof & gutters (2019); new central air (2019). Brand new furnace (2019); upgraded 200-amp electricity (2019), driveway sealed (June 2019). Great location with easy access to Rte 9W, I-84 and I-87, Stewart International Air ...
Monday, October 28, 2019 / by Vanessa Saunders
I’m in the middle of negotiating a short sale that has received multiple bids, which is par for the course if done correctly. Short sales have become much easier than a few years ago, but they can have the occasional hiccup. Short sales are still a great way for buyers to get a bargain when buying a home. One of the Realtors involved in this transaction asked me to explain the process in order to make sure that her client’s are fully aware of what to expect, and I thought others would be interested too, so here goes….
Buyers pursue short sales hoping to get a good deal. So when you see a price listed for a home that you think is too low for the neighborhood, before you jump on like a hen on a June Bug, ask your agent to call the listing agent to find out if the home is a short sale.
In the past, many of my Rockland & Orange County home buyers have waited 4 to 6 months to close on a short sale, sometimes much longer. A short sale can go much quicker these ...
Thursday, October 24, 2019 / by Vanessa Saunders
We have preached here often about correctly pricing a Hudson Valley home for sale. Sellers should know how an overly-optimistic price can drive away buyers no matter how great the marketing. We've tried to pound home how important using comps and the expertise of a local area real estate specialist is in getting an idea of fair market value.
But one of the most overlooked factors sellers should consider is understanding how a search works in their particular market. What does that mean? This story should explain.
Let's say a Hudson Valley home owner believes his house is worth $410,000 because a neighboring home with the same floor-plan just sold a few blocks down the street for $400,000. But his home has a better location in a cul-de-sac and should sell for more, in theory. In reality, it would be a major mistake to price the property at $410,000. The reason being is that many real estate marketplaces such as Trulia and Zillow use search filters and the $400,000 ma ...
Wednesday, October 09, 2019 / by Vanessa Saunders
Think the housing inventory shortage is bad now? Just wait a few months. According to a study just released by realtor.com, "A seismic inventory shortage may be on the way." Realtor.com Senior Economist George Raitu said in a prepared statement, “While lower mortgage rates and the arrival of fall promised a reprieve, conditions continue to tighten as demand remains strong. September inventory trends, especially in the mid-market, may be the canary in the coal mine that we could be headed for even lower levels of inventory in early 2020.”
Inman News, the leading source of news for the real estate industry reported on the study yesterday. They explained the reason for the prediction, saying, "Increased buyer demand purred by historically low mortgage rates caused sizable drops in available inventory in starter homes priced under $200,000 and mid-market homes priced between $200,000 and $750,000. In September 2019, the starter home market experienced a 10 ...
Monday, October 07, 2019 / by Vanessa Saunders
We've often written about the myths connected to mortgage down payments, but the message still doesn't seem to be getting through to Hudson Valley home buyers. Here are two.
1. According to the ‘2019 Home Buyer Report’ conducted by Nerdwallet, many first-time buyers still believe they need a 20% down payment to buy a home in today’s market:
“More than 6 in 10 (62%) Americans believe you must put at least 20% down in order to purchase a home.”
When potential homebuyers think they need a 20% down payment to enter the market, they also tend to think they’ll have to wait several years (in some markets) to come up with the necessary funds to buy their dream homes. The report continues to say,
“The truth: 32% of current U.S. homeowners put 5% or less down on their home, according to census data.”
2. Another misconception, sometimes held by sellers, is that a low down payment flags an offer as less desirable. In fact, neither ...