Penny's Hudson Valley Homefinder

08/16/2024

How does your child's school compare to others? Use this tool to learn more about your local schools in Newburgh

08/16/2024

Wallkill is currently enjoying a neutral real estate market. So you're in luck, regardless of whether you want to buy or sell.

The median sold price is $420,000, up $45,000 (+12%) from June 2023. In May 2024 there were 160 homes for sale and 31 homes sold, whereas in June 2024 there were 170 homes for sale with 25 homes sold. In June 2023 the average sale time for area homes was 46 days, a year later in June 2024, that number dropped to 30 days.

Whether you are looking to sell your current property, land your dream home, or even both, it would be my privilege to help. Let's discuss your real estate needs.

08/16/2024

Reasons To Move in Today’s Shifting Market

You have 3 key opportunities if you’re looking to move this fall. Inventory is growing, homebuilders are motivated to sell, and mortgage rates have come down from their recent peak. Let’s connect if you want more information.

08/15/2024

What Credit Score Do You Really Need To Buy a House?

When you're thinking about buying a home, your credit score is one of the biggest pieces of the puzzle. Think of it like your financial report card that lenders look at when trying to figure out if you qualify, and which home loan will work best for you. As the Mortgage Report says:

"Good credit scores communicate to lenders that you have a track record for properly managing your debts. For this reason, the higher your score, the better your chances of qualifying for a mortgage."

The trouble is most buyers overestimate the minimum credit score they need to buy a home. According to a report from Fannie Mae, only 32% of consumers have a good idea of what lenders require. That means nearly 2 out of every 3 people don’t.

So, here’s a general ballpark to give you a rough idea. Experian says:

“The minimum credit score needed to buy a house can range from 500 to 700, but will ultimately depend on the...

When you're thinking about buying a home, your credit score is one of the biggest pieces of the puzzle.

08/14/2024

Support local businesses when you can this year. Here are a list of local Newburgh businesses near you.

08/14/2024

The Great Wealth Transfer: A New Era of Opportunity

In recent years, there’s been a significant shift in how wealth is distributed among generations. It’s called the Great Wealth Transfer.

Basically, as more Baby Boomers retire, sell businesses, or downsize their homes, more substantial assets are being passed down to younger generations. And this creates a powerful ripple effect that’ll continue over the next few decades.

Impact on the Housing Market

One of the most immediate effects of this wealth transfer is on the housing market. Home affordability has been a concern for many aspiring buyers, especially in high-demand areas. The increase in generational wealth is expected to ease some of these challenges by providing future homeowners with greater financial resources. As assets are passed down through generations, buyers may find themselves in a better position to afford homes.

Impact on the Economy

But the Great Wealth Transfer doesn’t just...

In recent years, there’s been a significant shift in how wealth is distributed among generations.

08/13/2024

Get a CMA on your home today!

08/13/2024

Is Affordability Starting To Improve?

Over the past couple of years, a lot of people have had a hard time buying a home. And while affordability is still tight, there are signs it's getting a little better and might keep improving throughout the rest of the year. Here’s a look at the latest data on the three biggest factors affecting home affordability.

1. Mortgage Rates

Mortgage rates have been volatile this year, bouncing around from the mid 6% to low 7% range. But there's some good news. Data from Freddie Mac shows rates have been trending down overall since May. When rates decline, it's easier to afford the home you want because your monthly payment will be lower. Just don’t expect them to go back down to 3%.

2. Home Prices

The second big thing to think about is home prices. Nationally, they’re still going up this year, but not as fast as they did a couple of years ago. As Odeta Kushi, Deputy Chief Economist at First American, says, “While...

Over the past couple of years, a lot of people have had a hard time buying a home.

08/13/2024

"Home is the starting place of love, hope, and dreams."

- Lana Del Ray, Singer-Songwriter

It's where bedtime stories spark imagination, kitchen tables host meaningful conversations, and where daily life happens. It's not just a place—it's the foundation where life's most beautiful moments begin and grow.

How can I help you find home? Let's discuss your wish list.

08/12/2024

Are There More Homes for Sale Where You Live?

One of the biggest bright spots in today’s housing market is how much the supply of homes for sale has grown since the beginning of this year.

Recent data from Realtor.com shows that nationally, there are 36.6% more homes actively for sale now compared to the same time last year. That’s a significant improvement. It gives you far more options for your move than you would’ve had just a year ago. And with supply improving, you’re also regaining a bit of negotiation power. So, if you’re someone who thought about buying a home over the last few years but were discouraged by how limited inventory was, this should be welcome news.

As Lawrence Yun, Chief Economist at NAR, says, “Increased housing supply spells good news for consumers who want to see more properties before making purchasing decisions.”

While we’re up by almost 37% year-over-year, we’re still not back to how much inventory there’d be in a...

One of the biggest bright spots in today’s housing market is how much the supply of homes for sale has grown since the beginning of this year.

08/11/2024

Get to know more about the community in Newburgh.

08/10/2024

Home Inspections For Sellers: How To Prepare

If you’re thinking about selling your house, it’s important to know what the home inspection is and what inspectors look for. As supply grows and buyers regain negotiation power, you may find you want to do some select repairs with a good return on investment before listing to get ahead of things a buyer may ask you to fix. To decide what's worth tackling, you need expert advice. Let's chat so you know what to prioritize.

If you’re thinking about selling your house, it’s important to know what the home inspection is and what inspectors look for.

08/09/2024

Home Inspections for Sellers: How To Prepare

Wondering how to get your house ready for the inspection? You may want to do some select repairs before listing to get ahead. To decide what's worth tackling, you need expert advice. Let's chat so you know what to prioritize.

08/08/2024

The Hudson Valley has an abundance of local businesses owned by women.

Here are just a few if you want to support the local community...
• Free Fall Sangria in Wallkill
• The Rock Shop in Nyack
• Body Be Well in Catskill
• Tiny Green Farms in East Fishkill

Shopping locally in the Hudson Valley is just one of the many benefits of having a home in the area. Let's discuss your real estate needs.

08/08/2024

Where Will You Go After You Sell?

If you’re planning to sell your house and move, you probably know there’s been a shortage of options available. But here’s the good news: the supply of homes for sale has grown in a lot of markets this year – and that’s not just existing, or previously-owned, homes. It’s true for newly built homes too.

So how do you decide which route to go? The choice is yours – you just need to figure out what’s most important to you.

Here are some benefits of buying a newly built home right now:

>>Have brand new everything with never-been-used appliances and materials
>>Use energy efficient options to save money and leave a smaller footprint
>>Minimize the need for repairs and benefit from builder warranties
>>Take advantage of builder concessions that can help with affordability

Ralph McLaughlin, Senior Economist at Realtor.com, shares, “Homebuyers who are looking for that ‘new-home smell’ may be in a relatively friendlier...

If you’re planning to sell your house and move, you probably know there’s been a shortage of options available.

08/07/2024

Mortgage Rates Down a Full Percent from Recent High

Mortgage rates have been one of the hottest topics in the housing market lately because of their impact on affordability. And if you’re someone who’s looking to make a move, you’ve probably been waiting eagerly for rates to come down for that very reason. Well, if the past few weeks are any indication, you may be getting your wish.

After the latest reports on the economy, inflation, the unemployment rate, and the Federal Reserve’s recent comments, mortgage rates started dropping a bit. And according to Freddie Mac, they’re now at a level we haven’t seen since February.

Maybe you’re seeing this and wondering if you should ride the wave and see how low they’ll go. If that’s the case, here’s some important perspective. Remember, the record-low rates from the pandemic are a thing of the past. And if you wait for mortgage rates to drop further, you might find yourself dealing with more competition as...

Mortgage rates have been one of the hottest topics in the housing market lately because of their impact on affordability.

08/06/2024

Helpful Negotiation Tactics for Today’s Housing Market

If you haven’t already heard, homebuyers are regaining some negotiating power in today’s market. And while that doesn’t make this a buyer’s market, it does mean buyers may be able to ask for a little more. So, sellers need to be ready for that possibility and know what they’re willing to negotiate.

Whether you’re looking to buy or sell a house, here’s a quick rundown of potential negotiations that may pop up during your transaction. That way, you’re prepared no matter which side of the deal you’re on.

What Can You Negotiate?

Most things in a home purchase are on the negotiation table. Here’s a list of just a few of those options, according to Kiplinger and LendingTree:

• Sale Price
• Home Repairs
• Fixtures
• Closing Costs
• Home Warranties
• Closing Date

One thing is true whether you’re a buyer or a seller, and that’s how much your agent can help you throughout the process. Your agent is...

If you haven’t already heard, homebuyers are regaining some negotiating power in today’s market.

08/05/2024

What Every Homeowner Should Know About Their Equity

Curious about selling your home? Understanding how much equity you have is the first step to unlocking what you can afford when you move. And since home prices rose so much over the past few years, most people have much more equity than they may realize.

Here’s a deeper look at what you need to know if you’re ready to cash in on your investment and put your equity toward your next home.

Home Equity: What Is It and How Much Do You Have?

Home equity is the difference between how much your house is worth and how much you still owe on your mortgage. For example, if your house is worth $400,000 and you only owe $200,000 on your mortgage, your equity would be $200,000.

Recent data from the Census and ATTOM shows Americans have significant equity right now. In fact, more than two out of three homeowners have either completely paid off their mortgages.

Today, more homeowners are getting a larger...

Curious about selling your home?

08/05/2024

I have been a trusted Realtor in the community since the 1980s, bringing extensive knowledge and expertise to every transaction.

My deep understanding of the local market, combined with a genuine commitment to my clients, has made me the go-to resource for anyone looking to buy or sell a home in the area. My dedication to providing exceptional service ensures that my clients feel confident and supported throughout their real estate journey.

Have you been thinking of selling your home? Let's discuss the details. And I can help you purchase your dream home too!

08/03/2024

3 Reasons Why We’re Not Headed for a Housing Crash

Back in 2008, there was an oversupply of homes for sale. Today, there’s an undersupply. The three main sources of inventory show this isn’t like the last time. Existing homes, new homes, and foreclosures are all way below the levels we saw during the housing crash. Inventory data shows there just aren’t enough homes available to have a repeat of what happened back in 2008.

Back in 2008, there was an oversupply of homes for sale.

08/03/2024

Search for available new homes in Newburgh

08/02/2024

3 Graphs That Show We’re Not Headed for a Housing Market Crash

Back in 2008, there were too many homes on the market. Today, it’s just the opposite. The three main sources of inventory show this isn’t like the last time.

08/01/2024

Why the Sandwich Generation Is Buying Multi-Generational Homes

Are you a part of the Sandwich Generation? According to Realtor.com, that’s a name for the roughly one in six Americans who take care of their children and their parents or grandparents at the same time.

If that sounds familiar to you, juggling all the responsibilities involved certainly must have its challenges. But it turns out there’s one pretty significant benefit: it can actually make it a bit easier for you to buy a home.

How Can It Help You Buy a Home?

Here are a few ways their caretaking situation might be helping those 33% buy a home:

• Sharing Expenses

• Built-In Childcare

Beyond just the financial reasons, buying a multi-generational home has other advantages. The Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) highlights some of the most popular, including:

• Easier To Care for Aging Parents

• Spending More Time Together

How a Real...

Are you a part of the Sandwich Generation?

07/31/2024

Panoramic and spectacular Beaver Dam views from your beautiful property, make each day of every season your own personal paradise!

358 feet of lakefront make this one of the best lakefront properties around. This home boasts lake views from almost every room, as well as a large kitchen and double pantries. The open family room with fireplace and turret style space is full of windows. The property also offers formal living and dining rooms, as well as powder room on the first floor.

The spectacular primary features lake views, turret style sitting room, large walk-in closet with built-ins and remodeled ensuite.

50 Waterview Terrace
New Windsor, NY 12553
3 Bd | 3 Ba | 3516 SF
List price $879,978

Contact me to schedule a private showing of this spectacular New Windsor residence.

07/31/2024

Should You Rent Out or Sell Your House?

Figuring out what to do with your house when you're ready to move can be a big decision. Should you sell it and use the money for your next adventure, or keep it as a rental to build long-term wealth?

Is Your House a Good Fit for Renting?

Even if you're interested in becoming a landlord, your current house might not be ideal for renting. Maybe you're moving far away, so keeping up with the ongoing maintenance would be a hassle, the neighborhood isn't great for rentals, or the house needs significant repairs before you could rent it out.

If any of this sounds like it might apply, selling might be your best option.

Are You Ready for the Realities of Being a Landlord?

Managing a rental property isn't just about collecting rent checks. It's a time-consuming and sometimes challenging job.

For example, you may get calls from tenants at all hours of the day with maintenance requests. Or you may find a tenant...

Figuring out what to do with your house when you're ready to move can be a big decision.

07/30/2024

The Biggest Mistakes Sellers Are Making Right Now

Here’s a look at some of the most common mistakes – and how an agent will help you avoid them when you sell.

1. Overpricing Your House

Many sellers set their asking price too high and that’s why there’s an uptick in homes with price reductions today. An unrealistic price will deter potential buyers, cause an appraisal issue, or lead to your house sitting on the market longer.

2. Skipping the Small Stuff

You may try to skip important repairs, thinking you can pass the task on to your buyer. But visible issues (even if they’re small) can turn off potential buyers and result in lower offers or demands for concessions.

3. Not Looking at Things Objectively

Buyers today are feeling the pinch of high home prices and mortgage rates. With affordability that tight, they may come in with an offer that’s lower than you’d want to see – especially if you didn’t stage, price, or market the house well...

The housing market is going through a transition.