How’s The local Rockland Real Estate Market
November 18, 2011 By Leave a Comment
The local paper had some things to say about our local Real Estate Market in today’s paper.
Click on the graphic below to have a look.
Rockland Real Estate to recover in 3rd and 4th quarter ?
June 29, 2011 By Leave a Comment
All over the news these days we hear reports about the National and Local Housing Market. I have been blogging about this issue for well over 5 years now.
Click on the image below to read what Freddie Mac’s Chief Economist has to say now. I must admit that given the current and past state of affairs, I feel this is somewhat self serving.
I’m saving this article and coming back to it in October. That’s four (4) months of resale activity in Rockland County, and we’ll take another look then.
You know what, I’ve been saying this now for 5 years. Let’s see. Come back in the fall and we’ll see. I’m skeptical at best.
How’s the Rockland Real Estate Market
June 25, 2011 By Leave a Comment
The good news is that the overall economy is recovering.
What a joke and you’re right I’m not laughing. The bad news is that it’s recovering very slowly. Today The Associated Press reports that prices are stuck in a free fall. It’s all over the net and can be found on countless brokerage sites across this land.
The big question is … Does it apply to those of us who live in The Hamlets? Look over my shoulder as I put together this report and we’ll see. But first a closer look at what the AP reports. For the full article, go here.
Why is the housing market such a mess? Why are companies closing left and right and realtors leaving the industry ? According to an article entitled Home Prices Stuck In A Free Fall (AP/Washington – Derek Kravitz) the answer is simple but with complex complications. Here is some of what Kravitz presents:
Foreclosures (which sell on average at 20% discounts) are pull prices down even further, a huge inventory of unsold homes, and buyers fearful of making the leap right now either due to personal fears and/or the inability to borrow. It’s highly probable that many buyers are staying out of the market simply because they feel the market has a much deeper bottom. Are we there yet? By the way, buyers “fear of purchasing” is stimulating the rental markets. So one segment of the market increases while another decreases. Interesting! Kravitz also reports that for the eighth straight month the nationwide index fell with a forecast that we may drop another 5% before year’s end. Oh my! Mark Vitner (Well’s Fargo) says “It may be early next year before prices hit bottom.” Hmmmm where have I heard that before?
THE UNFORTUNATE 12 – There are 12 cities sited in Kravitz’s article. New York is one of them. But what about Rockland County Real Estate? How does all this affect Rockland Real Estate, and certainly The Hamlets? That’s what I’m attempting to learn as I dig deeper into market stats for The Hamlets this evening. (Yep, I’m workin’ tonight!) So .. I think I’ve written enough about the rest of the country, let’s take a look at what’s going on in The Hamlets.
ACTIVE LISTINGS now. There are currently 28 listings for sale now. [Read more...]
How’s the Rockland Real Estate market.
February 17, 2011 By Leave a Comment
Great info From a local licensed appraiser. Click to view full article.
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Do you want to REALLY know what’s going on in the Rockland County Real Estate Market. Each Month we receive statistics on this very subject. This month’s report was especially eye opening.
These reports were prepared by Tony Baletta, a licensed appraiser “extraordinaire” with over 45 years of appraisal experience. Tony has also been a Rockland Resident for those years as well. And so I put great stock in what Tony says.
I’ve excerpted his comments here, and added links to the graphics so you can see the full report. ” The figures in the chart to the right, tracking recession periods are not derived from a Federal or State Index or from the Local M.L.S. or Board of Realtors. The figures are a result of an annual personal study by Anthony Balletta (Licensed Real Estate Broker and Appraiser). The figures are only approximate and are not to be used for
appraisal purposes.”
The Bottom Line? Thre is still no bottom being seen in the Rockland Housing Market. That does not mean that houses are not selling. Actually they are. Many folks are taking advantage of the wonderful low interest rate climate and the over abundance of inventory we have now.
What I believe this all means is the economy is still in a state of flux, and we haven’t hit bottom yet. We are still seeing some correction, but nothing as extreme as the previous years. That does not translate to “wait” to purchase. If you wait to come back into the market along with the crowd, you will definitely lose your competitive edge.
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My next post will point out the difference one pays if they “wait”.
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