Spring Real Estate Market Update

Today I want to give you a look at what’s happening so far in our spring market.

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Selling a home? Click here for a FREE Home Price Evaluation 

Call me at (518) 861-7016 for a FREE home buying or selling consultation

The spring market is in full swing! I put more than 30 homes under contract in the last 14 days, and we are seeing multiple offers and great activity. However, other areas of the Capital region and price points are struggling. So, if you want a specific market analysis on your property, give me a call at any time. 

It’s so important that your home is priced right in this market if you’re a seller or that you have an agent that can respond quickly if you’re a buyer. Homes are selling within 48 hours, so you need to see them right away and have a strategy to get your offer accepted when there are multiple offers. 

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If you’re a buyer in this market, you need an agent who can respond quickly.

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If you’re a country music fan, I have some great news! My team and I are fortunate enough to have the endorsement of Gary LeVox of Rascal Flatts, and you can see our brand new ad to hear what Gary has to say about our team in the video above. 

If you have any questions or are looking to buy or sell a home, please feel free to give us a call or send us an email. We’re always happy to help.

Your Market Update & an Introduction to the Saint Baldrick’s Foundation

Today I’m talking about what’s happening in the market and why I do what I do.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation 

Call me at (518) 861-7016 for a FREE home buying or selling consultation

So, what’s happening in the market and why did I choose real estate as a career?

First, what’s going on in the market? We are now fully underway in the spring market and we are seeing multiple offers and low inventory. Houses are selling as quickly as 24 to 48 hours from the time they hit the market. However, buyers shouldn’t be discouraged as rates are still low. However, interest rates will be increasing over the next 18 months, so buyers need to act fast. 

Second, why do I do what I do? I get asked this question a lot. Most people assume it’s because I want to make a ton of money. The truth is, anyone that knows me knows I drive a car that’s eight years old and live in a house I bought with my wife 15 years ago. I live a simple life.  

The reason I chose this profession is that it allows me to support the people in my life. It helps me take care of my family, my agents, and my community. Being able to support my community is very important to me, which is why I want to introduce you to the Saint Baldrick’s Foundation, an organization that is very near and dear to my heart.

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Being able to support my community is very important to me.

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The Saint Baldrick’s Foundation is dedicated to helping fight childhood cancer, and I’ve been a part of their big fundraising event for the past six years. This was the first year I wasn’t able to go, so a good friend of mine, Josh, took my place. You can learn all about Josh and his son’s journey in the video above as well as get a glimpse of the fantastic fundraiser. If you’d like to show your support for those affected by childhood cancer, feel free to reach out to me. Any amount would be a tremendous help. 

If you have any other questions about the market, or if you’re looking to buy or sell a home, please feel free to give me a call or send me an email. I’m always happy to help. 

What's in Store for the 2017 Albany Market?

What's going to happen to the real estate market as we move forward in 2017? Today, I have some predictions that will hopefully guide your decisions when it comes to taking advantage of the Albany market.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation 

Call me at (518) 861-7016 for a FREE home buying or selling consultation

I want to take a moment today to discuss the real estate market in the Albany area, along with some predictions for the market in 2017.

We know that 2016 was a great year, and 2017 is off to an absolutely fantastic start. We saw a new wave of buyers enter the market, which happens every January. In fact, it's kind of funny how sellers always wait until March and April to list their homes even though buyers always come into the market in January. If you're thinking about listing your home, it's important to get ahead of the curve and take advantage of low inventory.

Moving forward this year, I expect the trends we're seeing so far in 2017 to continue. Sellers in the baby boomer age group are retiring and their kids are out of the house. We're seeing these types of people sell their McMansions and move down south to the Carolinas, Florida, Texas, or other warm weather states.

I think the wild card this year will be how active interest rates are. We saw them start to tick up at the end of last year and again in early 2017. How far those rates move up will have a dramatic impact on the market this year, and nobody really knows what is going to happen. If you're thinking about buying a home, it's important to act now so you can lock in a low rate for the next 30 years.

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I think the wild card this year will be how active interest rates are.

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If you're thinking about selling, remember that a 1% to 2% rise in rates means a 10% to 20% hit to a buyer's power to purchase your house. Get your house on the market now to take advantage of these low rates while buyers can afford to pay you more, and you have a larger pool of buyers able to buy your house.

Going into the rest of the year, it'll definitely be interesting to see what happens with the new administration, but I really think we're in for a great market. We're already seeing good trends. However, remember that real estate is local and prices depend on location.

If you're interested in a specific, personalized report for your neighborhood, give me a call or send me an email and I'll help you find out if it's best to buy, sell, or wait. I look forward to hearing from you!

The Truth About the Fall Real Estate Market

Real estate is a local animal, so why does the media always use sweeping generalities when it talks about the market? Today, I’ll give you a quick breakdown about what’s really going on.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation 

Call me at (518) 861-7016 for a FREE home buying or selling consultation

How is the market doing? How will the election affect the market? Should you buy or sell in the fall? I’ve heard all of these questions lately, so I wanted to address them today.

First, I would like to point out that I read two articles about the real estate market last week. One said that the real estate market was still going gangbusters, while the other said that the market was starting to slow down and that a shift is on the horizon. So, which of those two articles is right? 

The truth is that they both are. The media loves generalities. That’s why you see so many headlines that say now is a great time to sell or that the market is starting to slow down. However, real estate is a local animal, and there are many factors that affect the market in each city, town, and neighborhood.

Some of those factors include job growth, population growth, interest rates, and property taxes. How is the local economy doing? Some pockets in our area tend to do very well while others do poorly. It all depends on your local real estate market.

At the end of the day, whatever is happening in your specific area is what really matters.

As for the election — it really does not matter who is in office. It is very difficult for changes at the federal level to trickle all the way down to your local real estate market. The local government is much more important. For example, areas like Colonie are doing very well right now because there are positive things happening in the community and they have great schools.

At the end of the day, it really matters where you are. Generally speaking, I can tell you that our market is still seeing good activity. We are in one of the stronger markets we have seen since the market peak in 2006. In most areas, homes priced below $300,000 are in a seller’s market, while homes priced around the $400,000 or $600,000 mark are in a buyer’s market.

Remember, the median home price in our region is $200,000; as you go above that price point, the number of people who can afford those homes drops, which is why we start to see that buyer’s market in the higher price points.

If you are interested in the specifics about your town or neighborhood, just give me a call or send me an email. I would be happy to give you a more detailed, statistical report. I look forward to hearing from you!

Why Are We Seeing a Lull in Our Market?

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Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (518) 861-7016 for a FREE home buying or selling consultation

It's August, it's hot, and many people in the area are on vacation. We are in the midst of the summer doldrums; every single August since I can remember we see a slowdown in activity.

Come Labor Day, however, we are going to see a dramatic uptick in activity as we usually do. Keep in mind too that mortgage rate increases may be coming. Hopefully, buyers realize the risk of rates increasing and take action now rather than later.

A 1% increase in interest rates, which could happen in the next year, will impact buyer's purchasing power by 10%. It puts downward pressure on values, and affects the amount of home you can afford.

If you're a buyer, you definitely want to get moving before rates do. As for sellers, get your home on the market now before rates have the time to go up. If you have any questions for us, we would love to hear from you. Just give us a call or send us an email.

What's Happening with Albany Real Estate This Spring?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (518) 861-7016 for a FREE home buying or selling consultation

Spring is here, and with the blooming of flowers also comes the booming of the real estate market. As the snow melts, the inventory of homes will increase substantially. This increase will certainly lower home prices, so the sooner you list your home, the more money you'll be able to get for it. 

If you're purchasing a home this year, it's a fantastic time to do so. Inventory will be increasing tremendously in the next 60 days, and affordability is sky-high right now. Just be aware that competition will be fierce, because other buyers will want to take advantage of these tremendous real estate conditions. 

Interest rates are still at historic lows, but they're not projected to stay low for long. It's important to remember that just a 1% increase in interest rates decreases your purchasing power by 10%! So, the sooner you get out and buy, the better off you will be. 

Overall, it's a great time to be in the market whether you're buying or selling, and we would love to assist you with either of those endeavors. Please don't hesitate to call us!

Surround Yourself with Successful People to Succeed

There are many great Albany homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (518) 861-7016 for a FREE home buying or selling consultation to answer any of your real estate questions.

People always want to know how I became so successful and what I do to further my success. I often tell people to take their five closest friends and to compare their incomes with your own. You'll probably find that you're all earning about the same amount. 

I've always thought that I'm never the smartest or wealthiest person in the room, but I constantly try to surround myself with people that are more successful than I am. I have never hesitated to take advice from a mentor or to go to a conference to learn from other successful business people. 

There's a saying that I've always thought to be pretty true, "If you're the smartest guy in the room, then you're in the wrong room."

If you really want to grow exponentially, then you need to surround yourself with people that are more successful than you. You can learn a lot from these people, and you'd be surprised at how willing people are to share their expertise with you. All you need to do is ask.

Thanks for tuning in again, and if you ever need any advice, please know that I'm here to share it with you!

What Does the New Casino Mean for Schenectady Home Values?

There are many great Albany homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (518) 861-7016 for a FREE home buying or selling consultation to answer any of your real estate questions.

Thanks for joining us once again! I know how valuable your time is and I promise not to squander it! 

As we wrap up 2014, it's time to recap what we saw in real estate over the last 12 months and take a look at what we can expect moving forward. I will also address the new casino going up in Schenectady and discuss the impact it will have on our community.  

In 2014, we saw median home prices get back to where they were in 2007, at around $200,000. The average days on market was about 90 days, while the volume of home sales fell by about 5%. We want to say thanks to everyone who did business with us this year, as we were up about 25% in 2014. Your business is truly appreciated! 

Now, what about that new casino going up in Schenectady? Will it have any impact on home values in the area? Here are my thoughts: When Global Foundries was announced, people assumed it would cause property values to rise and many feel the same way about the casino.

The casino will be a huge bonus for any of the businesses that support it - restaurants and movie theaters, for example. The casino will also contribute about $8.1 million in property taxes and help homeowners in Schenectady City, as well as the county. However, it is not going to have an effect on home values - your home values will not rise as a result of the casino being built. 

The 1,200 jobs that the casino creates are not enough to increase the demand for homes enough to increase the prices substantially. Most of those jobs will likely come from people in the area. To really change home values in our area, we need a larger influx of jobs. We're seeing many people move to Texas, Florida, and North Carolina - they are leaving Schenectady to live in more affordable places. When there are more people moving away from our community than are moving to it, an increase in home values is unlikely.

Overall, the casino will have a positive impact on local businesses, the local economy, and will ease the tax burden of homeowners. However, we will not see home values improve as a direct result of the new casino.

If you have any questions give me a call any time. I'm always happy to talk real estate. Thanks, and make 2015 your best yet! 

Are You Leaving Money on the Table by Waiting Until Spring to Sell?

There are many great Albany homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (518) 861-7016 for a FREE home buying or selling consultation to answer any of your real estate questions.

Welcome back everyone! We want to say thanks to everyone who came out to our Thanksgiving Pie Giveaway, it was really nice to see you.

Today, we want to discuss listing your home during the holiday season. Whether buying or selling, people often put off their real estate needs until after December. Many people think the spring is the best time to buy, so they figure they'll just wait. We feel like this is a huge mistake.

Now is a great time to sell for a number of reasons:

• Inventory is at its lowest point.
• Buyers are serious.
• Your home looks great during the holidays.
• Interest rates may rise next year.
• You'll have to compete with your neighbors in the spring.

There is a lot of great activity in the Albany market right now. In fact, we've listed five homes this week! Putting your home on the market now, before everyone else does, is generally a winning strategy. If you do what everyone else does, you're going to get what everyone else does: average returns. 

If you're interested in taking advantage of these favorable selling conditions, don't hesitate to reach out to us. We would love to sit down and discuss your options.

Also - we want to say CONGRATULATIONS to Ben for winning our Thanksgiving raffle for a 32" TV! We hope you enjoy it!

Albany Real Estate Market Update for Fall 2014

There are many great Albany homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (518) 861-7016 for a FREE home buying or selling consultation to answer any of your real estate questions.

Albany Real Estate Market Update for Fall 2014

Today we would like to talk to you briefly about the fall real estate market here in Albany. We are seeing some great activity right now. We put 3 homes under contract just today, 1 of them with multiple offers.

A common misconception about the spring market is that it's the best time to sell. That couldn't be further from the truth. The fall market is generally more active than the spring market. Last year, we actually sold 360 more homes in the fall than we did in the spring. 

If you are, however, set on waiting for the spring, it's never too early to call us to talk about getting you a consultation so we can see what you need to do in order to get your home ready for the spring market. If you are thinking about buying this fall, give us a call or email as well.

Albany Real Estate Market Update for August 2014

There are many great Albany homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (518) 861-7016 for a FREE home buying or selling consultation to answer any of your real estate questions.

Albany Real Estate Market Update for August 2014

Today we want to talk to you about what's going on in the Albany real estate market.  Right now, we are hearing conflicting data regarding home prices. National reports are saying that home prices are up 10%, but local reports state that home prices in Albany are down over 25%.

So what's really going on? The market is currently segmented.  In areas where price points are over $300,000, we consider that a buyer's market and when price points are below $300,000, we have a seller's market, where we see much more activity.

The lending environment is still very favorable. Interest rates remain at historic lows. It's a great time to buy a home because affordability levels are much lower than they have been in the past. 

It is also a great time to sell a home, as we are seeing a tremendous amount of buyer activity across the board. If you are thinking about selling your home, it's never too early to start planning.


If you have any questions regarding the Albany real estate market or real estate in general, please give us a call. We would be delighted to assist you.