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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hudson valley real estate, hudson valley property, hudson valley home, 'urb to 'burb, buying a home, hudson valley home sellers, housing sales, selling your home, hudson valley house, first time home buyer, sales strategies, upstate ny, house pricing, bidding war
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, January 8, 2021 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
For some reason, in 2020 I came across more hoarder houses in the Hudson Valley than I have in my entire 20-year real estate career. Maybe it's due to depression caused by Covid-19 lockdowns, people's lack of social contact or all the uncertainties that we have been through during the last year. Perhaps some people find comfort in having their "stuff" around, even though it creates unpleasant situations (to others) and often dangerous living conditions which can become life-threatening.
I usually run across hoarders because family members need to get the hoarder into a better living arrangement and need to sell the house to finance it. Others have inherited a hoarder house after the relative living in it has passed. Whatever the reason, hoarder houses present an entirely different set of challenges than day-to-day real estate.
Hoarding as a psychological disorder.
According to the US National Libr; ...
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hudson valley real estate, hudson valley property, 'urb to 'burb, home investment, selling your home, sales strategies, hoarder houses
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
Thursday, December 10, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
In this seller’s market, we’ve seen a lot of happy people sitting at the real estate closing table admiring the profit they’ve made selling their Hudson Valley home. For some, it’s a windfall of unexpected proportions. For others...ehhh, not so much. This is because some home sellers will have to share part of their profit with Uncle Sam. It’s called Capital Gains Taxes.
The IRS and many states including New York assess capital gains taxes on the difference between what you paid for an asset — in tax terminology your “basis” — and what you sell it for. Capital gains taxes can apply to investments such as stocks or bonds, and tangible assets like cars, boats as well as real estate.
For example, if you bought a home say, 5 years ago for $200,000 and sold it today for $800,000, you’d make $600,000. If you’re married and filing jointly ...
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hudson valley real estate, 'urb to 'burb, home investment, hudson valley home sellers, selling your home, capital gains taxes, capital gains tax exclusion
