Real Estate New York
Market Update June 2007
June is Real Estate Month
But who really cares?
Of course, it's no secret the housing industry has been supporting the economy for years. And it's nice that Washington recognizes this with our own month. But how does this help you, the buyer?
Only in the the HUD site offers a weath of information--especially for the marginal buyer--including the current list of HUD forclosure listings.
Click for complete information
Real Estate New York is a Certified HUD Broker
Cozy Cape Cods
From authentic vintage examples to more modern inspirations, Capes are still giving families a comfortable and attractive place to call home.
When our country's first settlers built homes in the New World, their intent wasn't to develop a new architectural style. They sought shelter from the cold using materials at hand. Yet, the small homes they constructed beginning in the 1600s on eastern Massachusetts' Cape Cod were transformed into a distinct style that's still treasured today by home owners all over the country.
Click for complete article By Barbara Ballinger
Outdoor Living Trends for 2007
As the summer warms up we all like to spend more time outdoors. Visit the National Association of Realtors slide presentation to see what the experts have to say for this year.
Explore IRS 1031 Like Eschanges
Real estate investors have an option that may be beneficial to them as they buy and sell investment properties. A 1031 exchange allows the sale of an investment property to not be a taxable event if the rules are followed. To use method of exchange you have to be both selling an old and buying a replacement investment property. As with all real estate transaction it is recommended you seek legal and tax advice from qualified professionals
Click for complete article by Bill Powell
Flipping for Fun & Profit
Think you have what it takes to flip a house? In Flipping Confidential: The Secrets of Renovating Property for Profit in Any Market (Wiley, 2007), Kirsten Kemp reveals how to avoid the common, costly mistakes of amateur flippers. Kemp, who you may know as host of TLC's “Property Ladder,” talks from experience as she lays the groundwork for a high-profit flip — how to choose the best property, decide what improvements to make, set the price, and stage for maximum impact.
Click for Book Review, Exerts, Tips and the 10 Best Selling Investor Books
Rural Housing Help
Last month featured resources were designed to aid limited income buyers own a piece of the American city. This month features some excellent rural resources found on page two of the Times Union article.
Click for the complete story by DAN HOWLEY, Albany Times Union staff writer
Market Update
Market Statistics as of June 1, 2007
This graph represents average sale versus list prices
Well, there it is, the price drop we have been waiting for. And since these statistics are hot off the presses as of May 31st you are the first to know--even before most are Realtors.
In addition, sellers are getting 97.76% of their asking price with the days on market down from 80 days to 71
This statistic indicates that there are now great bargains out there but they are going fast. Go get 'em!
However, the national trend is now showing signs of reversing.
Mortgage Rates and Trends
The link to up to the minute New York State mortgage information seems to work better than presenting the actual graph.
Click for up to the minute mortgage rate information
Kitchen Trends 2007
The kitchen remains the go-to-gathering spot of the house, and probably always will be one of the most important rooms of the house in buyers' eyes.
That's one reason why home owners spend a whopping national average of $54,200 on major kitchen remodeling projects that include state-of-the-art appliances, cabinetry, countertops, flooring, and lighting, according to the 2006 Cost vs. Value Report , published by Remodeling magazine.
Click for complete article by Barbara Ballinger
Archives
We've been asked to again include links to past market updates. But since our stories link to other web sites over which we have no control we only want to link to our most recent issues. Otherwise, the article links may fail to work as they once did.