Newburgh NY Homes for Sale - Why so many for sale signs??
Have you noticed that there are some streets that have a bunch of homes for sale? What does it mean for the neighborhood and prices. Should you buy... or stay away. Knowing the neighborhood is important. I have seen that inventory is down in Newburgh, but some streets more than others are lined with for sale signs. Bill and Liz sum up the potential reasons. If you are a buyer these are questions you should be asking your local Realtor that knows the community.
courtesy of Janis Borgueta, Realtor at Key Properties of the Hudson Valley 845-527-7115
Why Are There So Many Houses For Sale On This Street?
You drive into a neighborhood and there's For Sale sign after For Sale sign. There's a tipping point between thinking "Great, I've got choices" and "What is wrong that so many people are trying to sell?"
And there may be nothing wrong with the neighborhood, but just an alignment of circumstances, and those circumstances can work out on your behalf if you're a buyer.
After a few years of a down market in which most sellers that didn't HAVE to sell decided to sit on the sidelines, there's been enough positive news in the press that sellers have decided to take the plunge and list their home for sale.
So Ellen and Sam put their home on the market. It's time to go build their dream home while the interest rates are historically low.
At the same time down the street Bob was told his Fortune 500 wants him to take a new job on the other side of the country. Now if Bob wants to be upwardly mobile and keep his paychecks flowing, he agrees, and if he's lucky he gets relo benefits.
Also down the street Sue & Jason realize that keeping up a historic home is WAY more work and money than they expected, and it's time to go before their bank account is totally drained.
And Sandra is tired of the apartment building behind her home and all those peering eyes and has decided a move to the country and five acres of privacy is what she wants, so now we're adding another For Sale sign.
And Frank & Rita have realized that staying married is just NOT going to work for them without one of them wearing a fashionable orange jump suit, but since they're DINKs (Dual Income No Kids) and they bought the home based on BOTH incomes and neither one can afford to stay, FOR SALE.
And Abe & Helen raised their family in their huge home, but the kids are long gone, and those cold Ohio winters.....it's time to downsize and get that beachfront home in Florida they've always wanted.
And we could easily go on with the list, upcoming marriages, medical issues, etc. Each reason valid by itself, none with real negative connotations for the neighborhood, but overall buyers might see a "problem" with the neighborhood.
And as a buyer, what does it mean to you? Well if there's no actual reason for a mass selling (new highway? school district change? city boundary change? Taxes doubling?), then it should actually mean the opportunity for a better deal for you. Supply and demand, and thanks to all the supply, all these sellers are going to need to compete, and price is usually the way that happens. So it can be a win-win for you as the buyer, more to pick from AND a better price.
So just because there's plenty of For Sale signs on a street, don't assume it's a reason to steer clear. Maybe it's just a case of seller needs aligning at the same time!
Serving Warren County's residential real estate needs,
Liz and Bill aka BLizThe Liz Spear Team
Elizabeth & William Spear
RE/MAX Elite: Ask for us by name if you visit the office!
Two locations: Lebanon & Mason, OH
Liz direct: 513-265-3004
Bill direct: 513-520-5305 Fax: 866-302-8418MailTo: Liz@LizSpear.com Our Website: Warren County Ohio Homes
Buttons created at www.ButtonGenerator.com
Follow us on Social Media:
Social Media buttons courtesy of http://www.chethstudios.net
OUR SERVICE AREA:
View Liz Spear Team of RE/MAX Elite Primary Service Area in a larger map
Comments(8)