If you want to be in your new place by the December Holidays, you have to get serious NOW! 

Interest rates are down and there is lots of real estate on the market.  This is not the time to get a morgage if you want to put just a little down unless you are a FIRST TIME BUYER, buyt if you have 20% and know what you can borrow, you are in a great position to buy.

There are new and improved sources for first time buyers.  And that isn't "first time ever" rather, I think there is a 3 year period since lsat purchase. 

See my website: http://www.christine-cook.com to find links to mortgage sources.  They will give you the information you need to determine what you can afford within your budget and get you pre-qualified to enhance your negotiation position when you make an offer!

So get your homework done and call me!

How does the Federal bailout of Freddie Mac and Fannie Mae affect YOU, a home buyer or seller?  The price of their stock has dropped, but you probably don't own their stock.  Other stocks have been rising which is probably good news for your portfolio, but the important thing for the real estate market is that this week Interest Rates are DROPPING!!

From Newsday:

The lower yields began to show up in mortgage rates Monday as the average rate on a 30-year fixed-rate conventional mortgage loan dropped to 6.04% from 6.34% on Friday, according to research firm HSH Associates.

A sustained drop in mortgage rates below 6% could bring more buyers into the glutted housing market, while also giving an assist to strapped homeowners who are trying to refinance.

From the New York Times,

Still, the decision to place the two companies into conservatorship immediately lowered mortgage rates Monday by helping to drive up the price of bonds they issue. The average rate for a 30-year fixed-rate mortgage fell to about 6.04 percent from 6.34 percent last week, according to HSH Associates, a publisher of mortgage industry data. That is down about 0.65 of a point from July.

So give me a call and let's get looking!

Want to buy a new house?  Ready to Move?  These are the steps to consider.  The FOUNDATIONS of Home buying

Community -

Consider the area you're interested in.  If you already have kids in a school district that may narrow your choices, but if you're coming to a new area, do some research.  In real estate in Ulster County, that probably means lots of driving.  Do you want to be close to restaurants, theater, book stores, hiking or friends?  What is the flavor of the communities you're interested in?  Do you like the "feel"?  A good realtor can tell more about villages and their activities and lead you to resources to help you answer your questions 

 Location

Are there location issues - proximity to the Thruway, Metro North and the Poughkeepsie Bridge, or desire to be unreachable in the back woods?

Financing

Today, most sellers and realtors request buyers be pre-approved for a mortgage before actually showing them properties.  Sellers have to prepare their homes to be shown and leave the house for the scheduled time.  Realtors are not paid for their time except when they sell property.  Giving tours to people not really committed to buying property isn't a cost-effective use of time especially in these times of high transportation costs.

Financing is handled through banks or mortgage brokers in this area.  Details may be addressed in future blogs, but if you're interersted in some local sources, email me and I'll send some contacts.

The Property

Once the above foundations are in place, the actual house or land parcel is the next decision - probably the Fun Part!  This will be elaborated on in another section.

Do you want to get out of the City or the suburbs, but can't tell the difference between Upstate communities?  Do you have friends in one area who love where they are and others who swear their area is just what you need?  How can you tell what town is right for you?

Everyone is different, but the purpose of this blog is to illuminate some ways to define your interests, locate resources, and find out about real estate and land in Ulster County NY.  Other adjacent areas will be included, but the focus at least to start, is on real estate here in Ulster.

Best Reasons to choose Ulster County

So here are some great local outdoor places that make this area so attractive:  The Mohonk Preserve, Minnewaska State Preserve, the Catskill Mountains, the Hudson River and Scenic Hudson Parks.

Easy Access and Commuting

MetroNorth's Hudson Line's last stop is Poughkeepsie.  That station is right across the bridge from mid-Ulster County making the commute back to the City quick and inexpensive.  In addition, may people leave their cars at the station until they return. 

The Trailways bus leaves NYC frequently and takes 90 minutes to New Paltz.  With another short hop you are in Kingston and there is service to Woodstock and beyond.

If you drive, the Thruway brings you quickly to New Paltz, Kingston and Saugerties. People who live in Kerhonkson and Ellenville can also reach the City by travelling South through New Jersey