Monday, June 24, 2019 / by Vanessa Saunders
In the Hudson Valley, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show that you are serious about buying your dream home is to get pre-approved for a mortgage before starting your search.
Even if you are not in an incredibly competitive market, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach.
Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website:
“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”
One of the many advantages of working with a Global Property Systems Local Area Expert is th ...
Friday, June 21, 2019 / by Vanessa Saunders
Anyone planning to buy or sell their home who has interviewed one or more REALTORS® should have been given a document called the New York State Disclosure Form for Buyer and Seller to sign. If this has happened to you recently, and you are wondering what this form is and why your REALTOR® is so insistent that you sign it, don’t worry. This is a New York State Department disclosure form, number DOS-1736, from which your agent must explain the details of your agency relationship at your first meaningful contact. This contact could be at your first face to face meeting, or immediately after your first email, phone call in which you discuss the details of transacting a property. Your signing of it only means that the REALTOR® has done so, and your signature is the proof. It doesn’t obligate you to anything.
So why is this form so important? In a nutshell, it explains the obligations of the REALTOR® to you depending on the different types of representation ...
Wednesday, June 19, 2019 / by Vanessa Saunders
For sellers who haven't bought or sold a home in the last ten years, they're in for a shock. The rules have changed. The practices and truisms involved in selling a home in the Hudson Valley are different now. And what they don't know can cost sellers a good offer or the sale of their home. Three fundamental developments have caused this change, altering the home buying and selling battlefield forever.
1. Buyers watch a lot of HGTV.
The cable TV home decor channel is extremely popular with buyers as they look for a home. They study it. They soak up countless hours of the latest inspirations for interior design, home decor, landscape design, remodeling and entertaining. They have developed a sense of what they want, and are expecting to see homes exactly like what they've seen on TV. Ironically, these buyers are often incapable of producing the finished property like what they've seen on TV themselves.
2. Mobile phones and the Internet.
Buyers today START their search online. ...
Tuesday, June 18, 2019 / by Vanessa Saunders
When buying a home today, why is there so much paperwork mandated by the lenders for a mortgage loan application? It seems like they need to know everything about you. Furthermore, it requires three separate sources to validate each and every entry on the application form. Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago.
There are two very good reasons that the loan process is much more onerous on today’s buyer than perhaps any other time in history.
1. The government has set new guidelines that now demand that the bank proves beyond any doubt that you are indeed capable of paying the mortgage.
During the run-up to the housing crisis, many people ‘qualified’ for mortgages that they could never pay back. This led to millions of families losing their home. The government wants to make sure this can’t happen again.
2. The banks don’t ...
Tuesday, June 18, 2019 / by Vanessa Saunders
Popular, profitable wedding venue in the heart of the Catskill Mountains in Delaware County, NY, about 2-1/2 hours north of NYC, providing unique wedding experiences. Turnkey operation, business + real estate, ideal for operator/investor. Approx. 6,500 sq. ft. renovated 5-bedroom, 3-1/2 bath main house with numerous guest gathering rooms, separate bride and groom’s quarters, game room, fully equipped gourmet kitchen, laundry and heated basement. Radiant heat, generator. 7,500 sq. ft. Events Barn built in 2001 accommodates 300 guests with caterer’s upgraded 60×40-ft prep area with walk-in cooler. Adjoining parking lot for approx. 80 vehicles. 1 BA/1BR Honeymoon cottage; heart-shaped spring fed pond; storage barn. Thriving weekend business operating from Memorial Day to November. Clients originate in NYC, Long Island, Connecticut, Massachusetts, Pennsylvania. Bookings through October 2020. Pristine, immaculate property in a private, picturesque setting surrounded ...