Monday, December 28, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
As we get ready to shuffle 2020 out the door, about the only thing missing from our New Year’s Eve plans is optimism for the coming new year. It's not surprising a mood of "good riddance" seems to sum up the national attitude about the year 2020. After all, we've faced a global pandemic, social unrest, an economic downturn, a lame-duck president and natural disasters. It even rained on Christmas. The year has driven many homeowners to reconsider their home spaces, where to live and what to live in to cope during 2021.
That said, we do have some things going for us. Here are three things we can be optimistic about.
The U.S. economy is still strong.
Even though independent businesses, especially in the service sector, are struggling, the markets have made impressive gains from last spring. There is nothing fundamentally wrong with the economy. There is no “bubble” driving excessive ...
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hudson valley real estate, hudson valley home, 'urb to 'burb, hudson valley home sellers, housing sales, housing sales inventory, pandemic, financing, the economy, the future of real estate, health crisis
Friday, November 27, 2020 / by Vanessa Saunders
Thanksgiving day survivors parade.
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Yesterday, people across America celebrated Thanksgiving 2020 in spite of high unemployment and an economic recession pushed by a global viral pandemic. We have been urged to celebrate holidays this year on a minimal scale, eschewing travel, virtually visiting friends and relatives while staying home. But even with all the negative things happening in the world today, celebrating Thanksgiving made me realize just how much we Realtors should be thankful for. Here are just a few:
Realtors are thankful for a thriving real estate market.
Existing-home sales in October were 27% higher than a year ago, new-home sales were 32% higher, and pending home sales or contract signings in September jumped 20.5% annually.
Realtors are thankful for low interest rates, (if they can get them).
Any added incentive for buyers is a bonus, and having mortgage rates below 3% is a b; ...
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hudson valley real estate, buying a home, 'urb to 'burb, hudson valley home owners, housing sales, mortgage rates, pandemic, the future of real estate, manhattan real estate, ny
Thursday, November 19, 2020 / by Vanessa Saunders
It’s been a rollercoaster of a year for real estate. I don’t need to reiterate the many low-points in the economy that have punctuated 2020 like commas in a Faulkner paragraph. But 2020 has been marked an exceptional year in the housing market. Everyone I know is asking the same question: “What about next year?”
Someone who should know the answer to that question is Larry Yun, chief economist for the National Association of Realtors who we have written about many times in the past. In his annual look at the economy and housing market at NAR’s annual conference, the Realtors Conference and Expo, held last Tuesday, November 17 at the Residential Economic Issues and Trends Forum, he predicted higher home sales, higher home prices, stable mortgage rates and continuing low inventory.
Thank you Santa Yun!
His outlook is blush-worthy for all of 2021, with a few exceptions. He says, “My economic forecast is that in 2020, it is a recession, but in 20 ...
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hudson valley real estate, hudson valley property, hudson valley home, 'urb to 'burb, hudson valley home sellers, housing sales, sales strategies, the future of real estate
Wednesday, November 11, 2020 / by Vanessa Saunders
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. ...
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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
Tuesday, September 15, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
With so few homes on the market these days, having a new house built seems to be an obvious solution to finding the perfect home if you have the money. While moving into a space where everything is brand spankin’ new and built to your specific needs sounds great, it does have some downsides that didn’t exist before 2020. Here are a few things to consider when weighing both as you make the best decision for your family.
Existing Home:
One of the most compelling reasons to buy an existing home is that it is less expensive than a similar-sized home. Apart from the fact that older homes are typically lower priced, it used to be true that buying from a selling home owner also allows you to negotiate everything from price to possession date. But in today’s buyer’s market, new listings get multiple offers (some over asking price) the day they go on the market. Some home hunters are. ...
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hudson valley real estate, buying a home, 'urb to 'burb, selling your home, first time home buyer, making an offer on a house, pandemic, the future of real estate, older home or new construction
