My New Blog

Wow, I can't believe I am putting up the sunflower decorations around the home and office and preparing for the " pre fall" season of both my life and of real estate.  How quickly the year is going! " Pre Fall" for me is getting outside and truly appreciating the great weather before the cold weather comes. "Pre Fall" for  real estate  means the lull period, typically in August,  while families are enjoying the last bit of summer before school starts up. It's a typical trend to be expected and prepared for.

Now that the first half of the year is over, I must say that  the market in the Capital Area of Albany ( Albany, Schenectady, Troy) and surrounding areas including Saratoga have been quite good and I will add the word "stable" to that statement as well.

As the attached video will attest, pending sales were up in June by 17% with just a slight increase of .6% of inventory. The average price in June 2011 compared to last June was down only 1/2% for an average price of $190,000. Where other cities and areas are still experiencing dropping values, we here, in the Capital Area are soundly seated with stable values.

What will happen next is anyones guess. My personal hopes are for unemployment issues to stabilize as although this area is considered stable work wise, there have been some local companies as well as  our state government that have released workers or are "talking about it." Another item I am focusing on are the mortgage rates. They are still exceptionally low now, however, with the current dealings in the government and the possibility of the US Government receiving a lower credit rating, this could change rapidly.

If you are looking to buy or sell a home in the Capital Area, please call me at 518-366-2856 or send me an email at karencares@nycap.rr.com