My New Blog

Its been a while since I have had the chance to update my blog as I have been very busy, mainly with first time buyers!

The local statistics show that sales are down double digits from same time last year but you could have fooled me.  According to the Greater Capital Association of Realtors, figures up till April 2009 are as follows:

Albany County:

                 YTD                          YTD 08                           %
Closed         413                        496                      -17
Average $    $207,293                $210993                 -2
Median $      $187,000                $188,800                -1

Rensselaer County

Closed         205                       305                      -33
Average $    $158,252               $173,422                -9
Median $      $155,000               $162,700                -5

Saratoga County

Closed        360                         472                     -24
Average $    $224,333               $238,450                -6    
Median $      $204,500               $218,700                -5

I am seeing the lower end home prices selling quickly, particularly anything under $150,000. First time buyers are out there in droves looking to take advantage of the first time buyers credit and the "low" interest rates.

First Timers That Have Not Yet Purchased: Don't wait too long! The home needs to be closed by Nov 30, 2009 and there will be a long line at the mortgage counter for those trying to get in under the last minute. Don't take a chance and be a day late for your $8,000 credit. Also, the interest rates are creeping up and that can severly affect the amount of home you can purchase.

For more information, please call me at 518-366-2856