Market Conditions And Taxes

Stay up-to-date with the most current Ulster County Real Estate market conditions and news on taxes.

Found 11 blog entries about Market Conditions And Taxes.

If you spent any time watching the real estate market throughout the year, it is easy to see that inventory, pricing and overall activity is highly subject to seasonal trends.  In most cases, spring is the busiest time for home shopping but is it always the best time to buy?  Home buyers looking for a home in the Hudson Valley area of New York state are often surprised to learn autumn is the second most busy time for home real estate transactions and opportunity is the main driver.   Beyond the financial advantages of buying in the fall, the aesthetics of the Ulster County foliage makes it the right time to go out and look for that new home.  Here are some of the advantages of buying your home now instead of waiting for spring.

Tax Breaks

Fall

733 Views, 0 Comments

Ulster County Home Value

Today’s Ulster County homebuyer starts their journey on the internet the majority of the time. With the formation of national sites like Redfin, Trulia, and Zillow, understanding the "true state" of the local market is more confusing than ever. These non-local services try provide intelligence by giving automatically generated property values. While these figures can provide some indications, they can never replace the true worth provided by a seasoned realtor that is local to the Ulster County area.  The big national sites use an algorithm to give an educated guess. In many cases, it can provide an estimate that is far from accurate.  To find an Ulster County home value, a realtor that is well versed on the market in the area is the best bet.

7,467 Views, 0 Comments

Ulster County Low Inventory

Home inventory may be down right now in the Hudson Valley but don’t let that stop you from searching for your dream home. To accommodate for the low inventory, you need to make a few changes to the way you shop. The methods used in a buyers’ market are very different than those used in one where the seller has just a little more control. So, here are a few things you need to do to ensure you are successful in your search.

1. Don’t Go Too Low on Your Opening Offer

Sure, you’re on a budget and want to get the house you need within those parameters. Remember, the seller has a loan to pay off and needs to get the equity from their home. Are you one of those people that like to give a low ball offer to see where the seller stands? There is a one in a

1,485 Views, 0 Comments

Spring, the season of hope, is upon us and if you have been waiting to sell or are contemplating selling your home in the Ulster County area of the beautiful Hudson Valley, there are many reasons to be hopeful. Spring 2017 promises to be a fast moving market with strong demand and not enough homes coming to market. When demand outweighs supply, home sellers stand to profit. 
But, savvy home sellers know they have work to do before putting their homes on the market. And, after this Winter, there may be more to do than usual. Let’s make a checklist and start planning before we list your home For Sale.   

Curb Appeal Matters

Curb appeal is super important. Experienced brokers say that curb appeal is important because buyers often make a…
6,475 Views, 0 Comments

Many websites are available to view Ulster County real estate, such as realtor.com, homes.com, trulia.com & zillow.com. These national real estate websites have become more and more popular over the years, especially Zillow which displays their own estimated value (Zestimate) on each home for sale. The value of a home is an important number to both buyers and sellers. Both parties need this number to be accurate. If the number is understated, the buyer is likely to push for a price close to this number while the seller will probably not agree with the number. If the value is overstated, the seller likes the number and the buyer does not.

Zillow calls its home value number a Zestimate. Both home owners and home buyers can see this number and while it often

3,584 Views, 0 Comments

The recent real estate report of May 2012 has given a boost of confidence to companies associated with real estate.  The people who sell luxury homes across the land have even more reason to celebrate.  Improved conditions in the market are enticing more transactions for properties priced at $500,000+.

Defining Luxury Home Loans

Fannie Mae and Freddie Mac, the two largest conventional mortgage lenders, have long held in place some guidelines about loan amounts.  One rule is the maximum mortgage that they will underwrite.  As of this writing that maximum rests at $417,000.  For all intent and purposes, that amount would seem more than fitting for the vast majority of American looking to buy a home.  But you might be surprised to learn that there are

2,518 Views, 0 Comments

Is the Ulster County Real Estate Market improving?   This infographic shows Ulster County Market trends as compared to the entire New York State real estate market. See how Ulster County stacks up in new listings, closed sales, inventory and median price. Statistics show May 2012 compared to May 2011.

 

ulster-county-real-estate-stats_1094

Put this graphic on your site:

<br> <p><a href="http://www.murphyrealtygrp.com/blog/how-ulster-county-stacks-up-against-new-york.html"><img src="http://www.murphyrealtygrp.com/images/ulster-county-real-estate-stats_1094.png" border="0" alt="Ulster County Real Estate Market Stats" /></a></p><p>For more <a href="http://www.murphyrealtygrp.com/">Ulster County Real Estate Stats</a> visit MurphyRealtyGRP.com </p>
2,893 Views, 0 Comments

 housing crisisAs banks are loosening credit, the housing crisis is expected to end this year, which is great news. This is due to the fact that mortgage lending has remained stable over the past three quarters, now in the forth, with the requirements of a credit score of 700. According to banks, they are now lending amounts up to 3.5 times borrower earnings, up from the low of 3.2 times borrower earnings. Banks are also loosening loan-to-value ratios, which Capital Economics denotes “the clearest sign yet of an improvement in mortgage credit conditions.”

With that said, if borrowing and credit conditions return to normal, maybe, just maybe, home sales will increase again!

Homes for sale!

1,251 Views, 0 Comments

Ulster County Executive Mike Hein is proposing a property tax exemption for first time homebuyers who move into newly constructed homes or buy used existing or renovated homes.

Ulster County Executive Mike Hein wants to keep up the momentum, by keeping first time homebuyers on the Ulster tax rolls. He's proposing to cut their property tax levy over five years by fifty percent in the first year of a newly constructed home sliding down to a 10 percent savings in the fifth year, totaling on average, more than a $1,000 in savings. The same scale would exist for the value of improvements made to existing homes.

"This is hundreds and hundreds of dollars on an annual basis to people," said Hein. "That makes a difference in making a mortgage payment, it makes a

1,226 Views, 0 Comments

Putting the FOMC statement in plain EnglishWednesday, the Federal Reserve's Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent.

The Fed Funds Rate has been near zero percent since December 2008.

For the third consecutive month, the Fed Funds Rate vote was nearly unanimous. Just one FOMC member dissented in the 9-1 vote, objecting only to the language used in the Fed's official statement.

In its press release, the Federal Reserve noted that the the U.S. economy has "expanding moderately" since its last meeting in December 2011, adding that the growth is occurring despite "slowing in global growth" -- a reference to ongoing economic uncertainty within the Eurozone.

The Federal Reserve expects moderate economic

1,399 Views, 0 Comments