dutchess county real estate: The Perfect Storm for Owner Financing
- 11/26/10 03:55 AM
Owner financing, does anyone even remember what that is anymore? I remember when my parents bought there home back in the 70's, the seller offered to hold the mortgage. My in-laws bought their home the same way. It was a common practice, with mortgage rates over 18% it was the best way for a seller to get their home sold. Fast forward 30+ years and most sellers won't even entertain the idea. Why? Is it because we're doing a poor job of explaining it? Is it the government intervention, HAMP, HFA, etc.... or is it just too risky in their opinion. What … (0 comments)
As you can see the market has taken a strong decline. Sales are down, selling prices are down, days on market is up. The statistics were similar for July as well. Most of this can be accounted for due to the First Time Home Buyer Credit which expired earlier in the year. It altered the natural supply and demand. Unfortunately it appears as if the banks have begun adding more REO inventory to the market due to the high default rates. This will keep this artificially bad market moving in … (0 comments)
Poughkeepsie, Dutchess County - ATTENTION BUYERS!The Federal Home Buying Credit has expired, but this seller feels you still deserve it. So he's going to give you $11,000 towards your closing costs! This fine home has freshly painted interior and exterior as well as refinished hardwood floors. This home offers stainless appliances, covered entry, covered rear porch, fenced-in back yard, seasonal views of the river, and two additional rooms in the attic for storage. All this in walking distance to the train, hospital and river front! Hurry, before it's … (1 comments)
dutchess county real estate: Tax Credit Closing Deadline Extended - Will this help?
- 07/03/10 02:49 PM
Congress has passed a bill extending the Homebuyer Tax Credit closing deadline to September 30, 2010. The extension applies only to transactions that had ratified contracts in place as of April 30, 2010, and have not yet closed. There will be no gap between June 30 and the date the President signs the bill into law. The question is will this matter... the answer? Not really. Yes this will help those buyers that met the April 30th deadline but are having a difficult time closing. This is a good thing. But since a buyer already had to be in contract, this will … (2 comments)
dutchess county real estate: How is Health Care Related to Real Estate?
- 03/30/10 04:36 AM
The new Health Care legislation has been a very hot topic lately. Regardless of which side of the fence you fall on, it's important to know how this legislation will affect you individually. Unfortunately this is easier said than done, even the Politicians that voted it into law don't know the in's and outs of this legislation. I believe it was Nancy Pelosi that said "We have to pass this bill so you can find out what's in it" .... really, is that the best way to create law? Since this isn't a political blog I'll leave that one for the Pundits. We all … (1 comments)
I've been saying this since the White House requested this back in January. I've seen articles in the Investors Bussiness Daily & the Wall Street Journal mention it, but no one else seems to be discussing it. WHY..... THE FORECLOSURE MORITORIUM The Foreclosure Moritorium didn't end until March 2009. That means all foreclosures stopped dead in their tracks and no new foreclosures began. In my state (NY) it takes approximately 13 months to complete the process. That puts us into early/mid 2010 before all the back log hits the market. How can I put … (2 comments)
dutchess county real estate: Market bottom or are we being fooled???
- 09/16/09 07:12 AM
Wow, my head is spinning. Depending on which media source you read or watch, either the sky is falling or as the politicians put it "we've pulled back from the brink". Well I'm no economist and I don't play one on TV so I won't speculate about any "brink". But I do know real estate, real estate markets and how to determine the bottom. And we're not there yet!!!!! Do the statistics (for Dutchess County NY) show the market decline slowing down.... well sort of. The decline in average sales prices has dropped, we were seeing over 24% year over year decline and … (2 comments)
dutchess county real estate: Dutchess County Real Estate Market Statistics
- 07/23/07 03:56 AM
It's important to have the most up to date market statistics possible when deciding to buy or sell a home. June 2007 Sales Statistics Single Family Detached June 06 May 07 June 07 %Change … (2 comments)
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