Monday, June 22, 2020 / by Vanessa Saunders
Empty parking lots may be a thing of the past in Phase 3 of the Covid-19 pandemic re-opening.
"You are about to enter Phase Three!"
It sounds like bad medical news but it's not. It's the next step as the seven counties in the Mid-Hudson Valley region comply with the state's re-opening schedule. Phase two, which commenced two weeks ago on June 9 included the re-opening of outdoor dining, professional services (including hair salons & barbershops), retail, administrative support and... (trumpets here) Real Estate/Rental & Leasing.
What's open starting Tuesday, June 23 will include nail salons, tattoo parlors and other personal care businesses, and indoor dining for food service establishments. (Still in place for restaurants are distancing rules requiring a maximum indoor seating of 50 diners, and six feet between tables.) Phase 3 restrictions will hold for as long as Corona virus infection rates in Dutchess, Orange, Putnam, Rockland, Sullivan, Ulster and Westchester do not ...
Wednesday, June 17, 2020 / by Vanessa Saunders
From Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
Home sellers and buyers should keep an eye on several trends in the real estate market that were recently outlined by presenters at Inman's June Virtual Connect Now conference. The event, held virtually June 2-4, 2020, featured economists and real estate experts, who explained some of the trends that will help you understand what's happening in your market.
1. Getting the most current pricing trends
Supply and demand are always the best predictors of future price directions, but people focus incorrectly on closing data, which relies on selling prices from closings that may be 30 to 90 days old. Instead, sellers and buyers should seek out the number of listings coming on the market (the sell-side), and pending sales (the buy-side). Considering these two metrics offers a much more current snapshot of today's market direction. Buyers and sellers can access this information from their Realtor, who ha ...
Tuesday, June 9, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
As we reported last month, the race is on as buyers from NYC and other urban centers scramble to spend at least the summer away from Covid-19, preferably near a lake or swimming pool.
Coincidentally, there is a group of home owners dying to sell them their upstate properties.
Some homeowners have secondary upstate properties they typically rent to summer tourists, either on their own or through companies like Airbnb. But the impact of diminished summer travel due to virus has severely affected their business in this unpresidented time.
A recent report by CNN concluded "Hosts face the possibility of losing thousands of dollars a month in canceled bookings while bills, maintenance costs, and mortgage payments pile up.”
A survey by ValuePenguin agreed:
48% of Americans have already canceled summer travel plans due to the current health crisis.
36% indicated they don’t have vaca ...
Wednesday, February 12, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems.
The Chinese Coronavirus has been all over the news lately, causing anxiety and worry on both sides of the globe. China used to be a big player in New York real estate investing, but Chinese buyers have all but disappeared. The virus, which has led to over a thousand deaths to date with more reported each day, is just another blow to the market.
A report from Cushman & Wakefield noted the first beginnings of a “frenzy of disposal activity” among Chinese commercial real estate investors in the United States. In 2018, there were 37 property acquisitions by Chinese buyers worth $2.3 billion, but $3.1 billion of commercial real estate was sold off. The report said that the treatment of Chinese conglomerate Healthcare Networks of America and tough trade talk made Chinese investors feel unwelcome.
Chinese investors are also showing less appetite for residential real estate in the United States. ...
Tuesday, December 10, 2019 / by Vanessa Saunders
Do you have dreams of moving abroad? Maybe you plan to retire somewhere tropical where island breezes and warm sand are a part of every day living? Or perhaps finding a little bit of paradise overlooking Tuscan vineyards or Spanish olive groves for you to visit a few months out of the year? If you've ever thought of buying a little place of your own in another country, first you need to do some homework. Below are five things to consider when you plan your great escape.
1. How's the economy?
Moving overseas can be a good idea in an area with a low cost of living. But first, you should look into what it costs to live in paradise. Analysis by experts is available from the World Population Review's website . Plan ahead and budget accordingly.
2. Foreign Property Ownership Laws
Not every country allows just anybody to own real property like the United States. According to financial consulting firm SmartAsset, "Even if the country you’re interested in allows foreigners ...