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The Economy | From 'Urb to 'Burb Blog

Tuesday, May 26, 2020   /   by Vanessa Saunders

Beat the competition to your next new home!

From Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Real estate is possibly just two weeks away from becoming once again an essential, and appreciated, New York business. Governor Cuomo has announced that a limited number of industries are allowed to resume operation under Phase One re-opening guidelines: construction, agriculture, forestry, fishing, hunting, retail (limited to curbside or in-store pickup or drop off), manufacturing and wholesale trade. Real estate will follow in Phase 2.
Mid-Hudson Valley real estate will be allowed to officially operate again in two weeks if the region fulfills its last metric in the chase to prove itself adequate for Phase One business openings - we still need 857 more people taking the online course to become contact tracers. 
If the first phase proves safe and successful and COVID-19 cases and deaths continue to decline, real estate will return in early June.
Interested in buying or selling a home the M ...

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  hudson valley real estate, hudson valley property, hudson valley home, hudson valley home owners, hudson valley home sellers, 'urb to 'burb, orange county ny, westchester county, rockland county, ulster county, sullivan county, selling your home, dutchess, first time home buyer, pandemic, the economy, the future of real estate

Thursday, May 21, 2020   /   by Vanessa Saunders

April 2020 numbers show Hudson Valley Real Estate Market down.

From Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
April 21, 2020
If you are planning to buy or sell a home in the Hudson Valley any time soon, you may be interested in statistical information showing recent market activity in Westchester, Rockland and Orange counties. Our MLS registers and aggregates data on all such activity, and it is available to anyone through their real estate agent or Realtor. The charts in this blog come from the OneKey Hudson Valley MLS.
The reports for April are in, and generally show a down-tick in activity across most markets. Westchester new listings were off 14.5% from April 2018, as sellers began to back off due to uncertainty in the first month of the COVID-19 shutdown rules. Rockland and Orange counties also showed fewer new listings to a lesser degree.
Westchester

Rockland

Orange



Pending Sales came up a little short across the boards for all three counties. Keep in mind that pending sales figures a ...

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  hudson valley real estate, hudson valley property, hudson valley home owners, hudson valley home sellers, orange county ny, westchester county, rockland county, ulster county, sullivan county, dutchess, pandemic, upstate ny, the economy, health crisis

Tuesday, May 12, 2020   /   by Vanessa Saunders

Buying a house isn't impossible. It only looks that way.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Social distancing and unessential businesses aside, it is still possible to sell or buy a house in the Hudson Valley. Even though we are restricted in how we go about it, we have transacted real property throughout the pandemic shutdown within the parameters of viral quarantine. You can still buy or sell a house.
The Facts
People are listing their homes for sale every day. Lawrence Yun, chief economist for the National Association of Realtors estimated this spring would see a 10% drop in home sales. Ten percent is a big number nationally. But the Hudson Valley is uniquely positioned to be highly sought after by New York City buyers looking for a way out of the city, either temporarily or permanently.
Besides that, a 10% loss means that 90% of transactions which would have happened without the shutdown will still happen. Why? Because the real estate industry is adapting to the new normal. More agenci ...

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  hudson valley real estate, hudson valley home, buying a home, hudson valley home sellers, 'urb to 'burb, selling your home, housing sales inventory, mortgage rates, first time home buyer, mortgage, bidding war, the economy

Friday, May 1, 2020   /   by Vanessa Saunders

How far will your stimulus package go?

From Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Electronic deposits of the stimulus package under the Coronavirus Aid, Relief and Economic Security (CARES) Act are showing up in people’s bank accounts daily. The U.S. government has started paying every tax paying citizen $1,200 as part of their plan to jump-start the American economy. No doubt a lot of people will put this money toward rent or mortgage payments. But how far will $1,200 go?
Surprisingly, pretty far. Over 75 percent of U.S. renters and almost 50 percent of homeowners could pay one month of housing expenses with $1,200. A recent study reported by Inman News selected the 50 largest metropolitan areas in the United States and ranked them by the percentage of homeowners who could pay all or most of their housing one-month mortgage payment plus utility costs with $1,200 or $2,400 (assuming some would be couples). They made rankings for renters in the same 50 cities.
According t ...

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  hudson valley real estate, hudson valley home, hudson valley home owners, 'urb to 'burb, buying vs renting, the economy, hudson valley rent

Friday, April 10, 2020   /   by Vanessa Saunders

UPDATE: Mortgage forbearance programs to help New Yorkers survive.

From Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems


The financial crisis coming out of the COVID-19 pandemic is causing a great deal of pain for many home owners unable to afford their monthly mortgage payments. Many lenders and financial institutions are offering forbearance programs to relieve some of the pressure.


Forbearance is when your mortgage servicer or lender allows you to temporarily pay your mortgage at a lower payment or pause paying your mortgage. Forbearance does not erase the amount you owe on your mortgage. You will have to repay any missed or reduced payments.


It is possible to defer a payment during your mortgage term, but you'll need your lender's cooperation. If you are dealing with a temporary financial hardship, ask your lender for forbearance. To help you avoid foreclosure, a lender may let you defer a payment or two.


Under forbearance, your loan payments are postponed (or reduced) but interest continues to accrue d ...

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  hudson valley real estate, hudson valley property, hudson valley home, hudson valley home owners, 'urb to 'burb, hudson valley house, mortgage, pandemic, the economy, unemployment

Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258

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.