Posted by Kevin Durawa on Thu, Jan 19, 2012 @ 10:36 PM
You might think that selling a home in this economy will be difficult, but as 2012 brings with it an optimistic outlook for job growth and the beginnings of economic stabilization, more and more people are looking at buying a home this year.
In fact, a recent study by the National Association of Realtors (NAR) indicated that existing home sales rose by 5 percent in December, marking the third consecutive rise in home purchases in the past three months. As a whole, 2011 saw an annual rate of 4.6 million existing-home sales, an overall growth of 1.7 percent.
"The pattern of home sales in recent months demonstrates a market in recovery," said Lawrence Yun, NAR's chief economist in a recent statement to press. "Record low mortgage interest rates, job growth and bargain home prices are giving more consumers the confidence they need to enter the market."
So, if you want to sell your home, whether it's because you need to move for career or personal reasons, you can no longer afford to live there or you simply would like a change of scenery, it may be possible to sell a home without taking a loss. And, if you play your cards right, you might even be able to make a profit.
For example, converting unfinished rooms into additional bedrooms, upgrading appliances and making other little additions can allow you to sell your house for more money. Another way to make more money for your home is to hire one of your local real estate agents in New York, whose knowledge and experience in the field will help you get the best deals, and also, help your home get more exposure to potential homebuyers.
Posted by Kevin Durawa on Wed, Jan 18, 2012 @ 10:40 PM
The job market may remain uncertain for many in 2012, but if you are considering a change in your career path, there are some fields that are doing better than others. If you are seeking out a new type of job opportunity in a burgeoning market, you may want to take a look into joining the ranks of other real estate agents in New York.
Not only does the housing market look more promising than it has in years, but a recent survey by SelectLeader has also indicated that the real estate industry is seeing many optimistic trends when it comes to hiring and job growth this year.
The SelectLeaders' Real Estate Job Network survey was conducted in late December, and questioned over 900 real estate professionals across the nation and industry, from agents to human resource executives, to managers and other employers. The survey asked about their current working environment, as well as what they expect for their company and field in 2012.
"In almost every sector in real estate, there were people talking about seeing an uptick in hiring," Susan Phillips, the CEO of SelectLeaders, said in an interview with REIT.com.
According to the survey, 32 percent of real estate professionals believe that hiring will increase in 2012, and 47 percent don't expect to see any more cuts to existing jobs. Indeed, with property prices and mortgage rates at all-time lows, many real estate companies are shifting gears to accommodate for an influx of new homebuyers, including preparing to hire additional staff, if necessary.
So, if you are looking to break into a new field in 2012, the New York real estate industry might be ready and waiting to hiring you.
Posted by Kevin Durawa on Tue, Jan 17, 2012 @ 11:10 PM
A recent study from Clear Capital found that the Rochester, New York, housing market enjoyed the fourth-highest year-over-year price gains nationwide in 2011, as we mentioned in a blog post last week. But, why does Rochester real estate have such strong price growth? The answer is, for those buying a home in New York, Rochester tops many people's lists as an ideal place to live.
One of the reasons is that Rochester has been consistently rated as having excellent quality of life standards, with especially divorce rates, crime rates and even average commute times, according to the Rochester Visitors Association. In additon, the Bureau of Labor Statistics reports that the city has an unemployment rate of 6.9 percent, significantly lower than the national average.
Located in the Finger Lakes region, Rochester is located in the midst of miles of parks, three bodies of water (Lake Ontario, the Genesee River and the Erie Canal) and mountains, making the options for outdoor activities endless, no matter the season - not to mention, the picturesque beauty and tranquility that living with these surroundings brings.
But, Rochester also places an emphasis on local business and economic development. It is a leader in the production of medical devices, as well as other aspects of the tech industry. The region is also home to nine colleges and universities, which further contribute to the intellectual, cultural and economic development of the community.
If you are interested in buying a home in Rochester, you may want to consider contacting one of your local real estate agents in New York to get a complete introduction to the city and find out what it can offer you and your family.
Posted by Kevin Durawa on Mon, Jan 16, 2012 @ 11:11 PM
One of the greatest things about New York is that in addition to the affordable New York real estate, the jobs and industries available range from biotechnology development to dairy farming. With dozens of cities and a lush natural landscape, New York is an ideal place for buying a home and starting a new chapter of your life, whatever it may be.
Of course, one of the biggest concerns surrounding moving is the cost of relocation. Perhaps you are worried about selling a home, or concerned about the expenses you'll incur if you decide to pack up and move across the country. But, don't be afraid to go after jobs in New York, because, contrary to what you might think, there are still many employers that will contribute to the costs of relocation.
In fact, according to a recent survey by CareerBuilder.com, nearly one-third of employers in the United States say that they have paid to relocate a new employee in the last two years alone.
"Job seekers shouldn't be afraid to ask about relocation expenses during the interview process," said the company's vice president of human resources, Rosemary Haefner, in a statement to press. "The key to getting the best deal is really showing the hiring manager how much of an asset you'll be to the company during the interview portion so that they view spending money on relocation as an investment rather than an expense."
Whether you are pursuing your dream job, or in need of a change of scenery, don't let the costs of relocating scare you. To make the home-hunting process easier you may also might want to contact one of the local real estate agents in New York, as well.
Posted by Kevin Durawa on Sun, Jan 15, 2012 @ 11:00 PM
What if you could live in the same city as a worldwide natural phenomenon? If you end up buying a home in Niagara Falls, New York, you very well could.
The city of Niagara Falls is located in the far upper west of New York state, across the Niagara River from the falls themselves. Niagara Falls is visited by more than 12 million tourists every year, and ranks among the top 10 tourist destinations in the country, according to Forbes.
With only the majestic beauty of the 165 foot waterfalls separating you from the Canadian border, purchasing Niagara real estate will benefit you and your family twofold. Not only will you have the wonderful and unique opportunity to live so close to such a remarkable landmark, but by living in the same town as Niagara Falls and its surrounding state park, you can rest assured that tourism will always be a boon to local business.
As a city whose economy used to center around industry (often using the eco-friendly water power from the falls themselves), Niagara Falls has transitioned into a petite city that centers much of its business around its gorgeous natural surroundings. In addition to the waterfalls and parks, the Niagara Gorge attracts many, as well as the city's famous cuisine in its Little Italy, vibrant theater life and even its emerging wine industry.
If you are considering buying a home - or selling a home - in the neighborhoods of Niagara such as Deveaux, LaSalle, Hyde Park, Downtown or others, you might want to contact one of your local real estate agents in New York today to help you figure out which areas and homes are right for you and your family.
Posted by Kevin Durawa on Thu, Jan 12, 2012 @ 08:57 PM
For those of you that are thinking about selling a home, the latest report from government-backed mortgage agency Fannie Mae suggests that the value of your house could go up in 2012. That means that you may be able to sell it for more, and hopefully even turn a profit - something that has been increasingly difficult for sellers in the economic recession of the past few years.
The report, which was co-written by the company's chief economist, Douglas Duncan and the director of economics and mortgage market analysis, Orawin Velz, indicates that the prices of homes are expected to rise by approximately 3.5 percent this year.
"With an expected improvement in housing activity in 2012, residential investment should start contributing to growth, albeit only modestly initially," wrote Duncan and Velz.
For people who need or want to sell a home, your next step should be hiring one of your local real estate agents in New York to get the process going. Getting as much exposure as possible for your home is important, and hiring a real estate agent can automatically put you into their print and online listings. In addition, see yesterday's post about some of our tips to potentially raise the price of your home even more.
But, if you're interesting in buying a home, the expected rise in real estate prices means that now really is the time to buy, so that you can still take advantage of low-priced homes, as well as low mortgage rates. The good news for buyers is that the Fannie Mae report also added that while prices may begin to increase slightly, mortgage rates will remain very low in the government's effort to stimulate the market.
Posted by Kevin Durawa on Thu, Jan 12, 2012 @ 11:23 AM
It may not be the best economic environment for selling a home, but sometimes you need to anyway. Whether you can no longer afford it, need to move for personal or professional reasons or just want a change, here are four tips to help you get the best possible price for your home.
1. Make it look pretty. Before you do anything, make sure your house looks as good as possible, which means touching up on paint, fixing that leaky faucet, polishing the floors and cleaning out the basement. Little touches and updates will make the house look newer, which means you can sell it for a higher price. Don't forget your yard, either - plant some flowers, mow your lawn and make sure the paint isn't peeling.
2. Hire a real estate agent. In an economy like this, hiring one of your local real estate agents in New York can help you sell your home faster, because their knowledge of the industry and community make them experts in a market that is otherwise pretty difficult. In addition, many provide you with additional access to print and online exposure for your home's listing.
3. Spend a little money, to make a lot more money. Replacing your front door with a steel model, converting an attic or basement into a bedroom or building a porch all cost money, but small additions to your home can raise its value by thousands. Think about how you can best maximize what your home has to offer, and don't be afraid to spend a little, because you might make a lot more.
4. Go green. Many people buying a home these days are very into sustainability, so small upgrades, such as low-flow faucets, automatic thermostats and weatherstripping can all contribute to your home's "green" appeal.
Posted by Kevin Durawa on Tue, Jan 10, 2012 @ 11:17 PM
When Governor Andrew Cuomo announced on January 5 that he would invest $1 billion towards stimulating economic growth in the Buffalo area, many people that were considering buying a home in New York started listening even more closely.
The state government will allocate $1 billion to encourage national and international companies to relocate to Buffalo, Cuomo announced. Additionally, Cuomo introduced a plan for building new infrastructure to support that increased activity - two efforts that will create thousands of local jobs for residents and bring even more money into the city.
"Buffalo has the workforce, the talent, the resources and the will to succeed. We believe in Buffalo. And we'll put our money where our mouth is," said Cuomo in his speech.
While many people believe it to be an up-and-coming city, Buffalo currently has very low property prices, but the governor's recent investment in the city means that if you buy Buffalo real estate now, the value of your property could very well increase dramatically in the coming years.
Besides being home to the beloved Bills of the National Football League (win over your new neighbors just by mentioning Jim Kelly), Buffalo is also an upstate cultural hub - and we're not just talking about its world-famous chicken wings, either. Its local architectural treasures include Frank Lloyd Wright's Darwin Martin House and the Albright-Knox Gallery, which boasts a modern art collection that rivals that of any major city.
Plus, with natural surroundings such as Lake Erie, Woodland Beach State Park, the Tifft Nature Preserve and the city's Botanical Gardens, the beauty of upstate New York is in no short supply.
For listings, open houses and more information about Buffalo real estate, contact one of your local real estate agents in New York today.
Posted by Kevin Durawa on Mon, Jan 09, 2012 @ 10:35 PM
Buying a home is one of the largest investments people make over the course of their lives, so if you're considering buying a home for the first time, it's okay to feel a little overwhelmed by the process. Here are three tips to keep in mind as you take the next steps toward becoming a homeowner for the first time:
1. Analyze your local market. When you buy a home, you plan on being there for a while, so make sure the location, school systems, transportation and general feel of the town is something that you'll want in the long term. If you are unsure, meeting with one of your local real estate agents who have a lot of personal knowledge about the community can help you determine if you'd rather stay put, or move somewhere further away.
2. Look into foreclosures. Foreclosures happen when a bank, mortgage company or other lender are forced seize possession of an owner's property because the owner was in serious debt. Foreclosed homes typically sell for a lot cheaper, and there are a lot currently available on the market because of the country's recession. However, foreclosures aren't very well advertised, so you'll want to contact one of the local real estate agents in New York for help finding deals on foreclosures.
3. Factor in additional costs, such as insurance, property taxes, closing costs and repairs. There are a lot of expenses that go into buying a home that you might not realize, so be sure to calculate them into your budget. For example, you may find a beautiful - and affordable - house by a lake, but insuring waterfront property can be really expensive. Be thorough in your research and in determining your budget, and you will be well prepared.
Posted by Kevin Durawa on Sun, Jan 08, 2012 @ 11:19 PM
Perhaps you've been thinking of selling a home in Rochester, but concerned that New York real estate prices in this economy simply won't get you the amount you deserve, which is a valid concern these days.
However, a new Clear Capital Market Stability Report indicates that Rochester real estate saw a 4.7 percent price increase in 2011 from the previous year, the fourth-highest annual increase of the 50 major metropolitan markets observed. To put it in perspective, this indicates that the average price of real estate in Rochester rose at a higher rate last year than that of such traditionally top-selling real estate in cities such as Washington D.C., Boston, Denver and even New York City.
For Rochester residents who may need or want to move, this suggests there is a better chance to retain value on a transaction when selling a home. You might want to consider enlisting the help of one of your local real estate agents in New York, because if you handle the sale the right way, you might even be able to sell your home for a profit, which can be very difficult in this economy.
This is good news for people considering buying a home in Rochester, as well. Despite the fact that prices in Rochester have seen a rise, the value of property as a whole is still down from previous years. As the report suggests, purchasing property in an up-and-coming city such as Rochester could help ensure that your family's new home will gain value over time, and as the market strengthens, prove to put you in an excellent position to sell in the years to come.
Whether you're thinking about buying or selling, you might want to consider Rochester real estate as a great place to start.