If you need assistance, please call 914-290-5258

The Economy | From 'Urb to 'Burb Blog

Monday, November 16, 2020   /   by Vanessa Saunders

A look at Hudson Valley home prices set to music.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
It’s official. At least, if the National Association of Realtors (NAR) says it. The median price for existing homes in each of the 181 metro areas tracked by the National Association of Realtors was higher in the third quarter from a year earlier, the association said on Thursday, Nov. 12. For the first time since 1980, every metro area tracked by NAR posted an annual price increase in the same quarter. Back then, the association tracked 19 metro areas and Blondie topped the pop music charts with her hit “The Tide Is High.”
What’s going on is a perfect storm of factors that are driving up the cost of buying a home. Because so many people have been stuck inside their pandemic bomb shelters, they’re feeling like they need more space. According to Larry Yun, NAR’s top economist, ““Americans are viewing their home as something more than what it was be ...

Read More


  hudson valley real estate, hudson valley property, hudson valley home, buying a home, 'urb to 'burb, selling your home, mortgage rates, pandemic, mortgage, bidding war, the economy

Wednesday, November 11, 2020   /   by Vanessa Saunders

Will real estate crash as forbearance programs approach their horizon?

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Will we be facing a wave of foreclosures in the coming months that will drive down home prices and send the real estate market into another 2009 crash? At first glance, the numbers don't look good for real estate. In August, CoreLogic reported that 6.6 percent of mortgages were in some state of delinquency — a 2.9 percent rise from the same time last year.
This paints a disturbing picture of our current economic situation amid the corona virus outbreak. Pandemic-related unemployment still hobbles the unemployment rate. Many homeowners are not bringing in the income necessary to make up missed payments. Others who may be current are also one or two payments away from disaster.
Government forbearance programs can help those in late stage keep their homes for now, the end of those programs may throw many more into foreclosure.
But the numbers deserve a second look. According to Black Knight Inc ...

Read More


  hudson valley real estate, hudson valley property, hudson valley home, 'urb to 'burb, housing sales, pandemic, the economy, health crisis, the future of real estate, unemployment, forbearance, forclosure

Wednesday, November 4, 2020   /   by Vanessa Saunders

The cold facts about winter heating.

Winter chills came early to the Hudson Valley this year. We woke up to ice on the pond, first time this season. It prompted that annual discussion about thermostats, temperatures and heating your house. To wit:
Is it more economical to keep your home heating zones at a single steady temperature all winter, or to turn down the heat when you are sleeping or away, and turn back up when you return?
The common sense answer seems to be to keep the temp steady because it takes more energy to return the house to a comfortable level. Sounds logical, but it turns out to be wrong.
According to the US Department of Energy (DOE) it requires more energy to keep the house at its normal temperature 24-7 than to heat it back to that temperature after dialing the thermostat down. Heat naturally moves to places where it's cold. So if your heat is up, it is constantly moving from the inside of your house to the outside, even if your house is well-insulated. A home loses energy more slowly once the te ...

Read More


  hudson valley real estate, hudson valley home, 'urb to 'burb, hudson valley home owners, orange county ny, rockland county, ulster county, sullivan county, dutchess, pandemic, hudson valley living, the economy

Tuesday, September 29, 2020   /   by Vanessa Saunders

Is there a debacle coming to the real estate market?

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Keith Jurow, a long-standing financial analyst and writer for financial magazines including Advisor Perspectives, Yahoo Finance, MarketWatch, Barron's, and RealClearMarkets has spent much of the last few years predicting a collapse of the housing market. In March, 2019  he warned that the cash-out re-financing of the 2004-2008 real estate bubble could "start to take down numerous major housing markets within the next year."
In October, 2018 he wrote that the housing recovery was built on quicksand because of weak home sales volume. In June, 2018, he warned that re-defaults on mortgage modifications would undermine housing markets. Jurow's own LinkedIn page says, "I have stood alone warning investors that the so-called real estate recovery has been simply an illusion."
Jurow is either Chicken Little, or the canary in a coal mine. So far, his worries haven't been borne out, but he now has anothe ...

Read More


  hudson valley real estate, hudson valley home, buying a home, home investment, 'urb to 'burb, hudson valley home owners, housing sales, pandemic, mortgage, the economy

Thursday, September 24, 2020   /   by Vanessa Saunders

Single-family homes become less affordable as prices rise.

By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
The latest Attom Data Solutions’ Home Affordability Report for the third quarter of 2020 concluded that the median home prices of single-family homes and condos are now less affordable than historical averages in 63 percent of U.S. counties. The increase is up from 54% one year ago. The raise is attributed to the skyrocketing demand for homes during the coronavirus pandemic. Third-quarter data from Attom revealed that those price increases have helped contribute to a significant decrease in affordability.
Todd Teta, chief product officer with Atom said in an accompanying statement, “In a year when nothing is normal, owning a single-family home has become less affordable to average wage earners across the U.S., despite conditions that would seem to point the opposite way. Wages are up and mortgage rates are down to rock-bottom levels, which should work in favor of homebuyers.”
Teta ...

Read More


  hudson valley real estate, hudson valley home, buying a home, 'urb to 'burb, housing sales, manhattan, first time home buyer, the economy, health crisis, nyc

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


NY.png

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.
This site powered by CINC: www.cincpro.com