Hudson Valley Real Estate / Local Market Reports

Real Estate News!

So if you listen really carefully you can hear the market start to whisper that we might actually be at the bottom. Of course no one will know exactly where the bottom was because as soon as its declared its already over. The media does its job of reflecting the pulse of the industry but they have been relatively silent which is to say they have no story unless its bad or good, “status quo” is a boring headline. The market is not going up or down in most areas, and the Hudson Valley is no exception.  I think that is cause for a celebration! I have been very open about my opinion that we were not going to see any significant movement for another 3 years, we will probably see interest rates go up and if there is a recovery it will be slow and minimal perhaps 1-3% a year. For all those waiting for the market to go down another 10% to buy… not happening here. For those who are waiting for the market to go up in order to sell, get on with your plans, a few percent is not going to change your homes market value enough to wait it out. One significant change I’ve seen this year is we have moved from the first time home buyer rush in the first quarter of 2010 to a significant number of high end sales where cash is the big winner. I will be providing the statistics for the 1st quarter as soon as the figures are in. Have you heard the news that a 30 year mortgage may become a thing of the past??? Stay tuned for more information on that one.
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