Real Estate Analysis and Commentary in the Mid-Hudson Valley

April 26th, 2023 9:54 AM

ERC Summary Appraisal Report

  • Known as the ERC Summary Appraisal Report, it is lengthier than the URAR (seven pages) and requires the appraiser to provide a considerable degree of detail and analysis in narrative form. In relocation appraisals, the purpose is to form an opinion of the anticipated sales price, not the market value of the property.

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Posted by Richard Binkowski on April 26th, 2023 9:54 AMLeave a Comment

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April 13th, 2023 9:22 AM
Coming off of a rocky end to 2022, the real estate industry was hopeful for a better market at the start of 2023. However, the data recorded in Westchester, Putnam, Rockland, Orange, Sullivan and Bronx counties paints a different picture, even when compared to pre-pandemic numbers. While the cyclical nature of the residential market normally results in low sales in the first quarter ahead of the traditional “spring selling season,” the numbers show a market that continues to struggle due to high interest rates and low inventory

Posted in:General and tagged: real estate
Posted by Richard Binkowski on April 13th, 2023 9:22 AMLeave a Comment

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April 6th, 2023 8:55 AM
Nearly half of seller’s agents (48%) reported that staging a home decreased its time on market, according to a newly released report by the National Association of Realtors. For both buyers’ and sellers’ agents, one in five (20%) said home staging increased the offer price by between 1% and 5% compared to similar homes on the market that weren’t staged.

Posted in:General and tagged: real estate
Posted by Richard Binkowski on April 6th, 2023 8:55 AMLeave a Comment

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March 22nd, 2023 7:03 PM

Existing-home sales reversed a 12-month slide in February, registering the largest monthly percentage increase since July 2020, according to the National Association of Realtors. Month-over-month sales rose in all four major U.S. regions. All regions posted year-over-year declines, according to the report released today.

 


Posted in:General and tagged: real estate
Posted by Richard Binkowski on March 22nd, 2023 7:03 PMLeave a Comment

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March 20th, 2023 7:02 PM

 

Between January 2023 and February 2023, closed regional sales transactions, including residential, condo, and co-op sales, decreased to 2,988 from 3,621, representing a 17.50% decline. Across the region, pending sales transactions rose in a month-over-month comparison, reaching 3,974 in February, 23.30% more pending transactions than the 3,224 reported in January.


Posted in:General and tagged: real estate
Posted by Richard Binkowski on March 20th, 2023 7:02 PMLeave a Comment

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March 16th, 2023 5:29 PM
While any astute real estate professional will tell you it's nearly impossible to time the real estate market, there is one week that is most likely to get home sellers the best possible outcome, according to Realtor.com. Nationally, homeowners who list the week of April 16-22, 2023 will hit the sweet spot in terms of the best combination of higher prices, fewer homes to compete against, faster sales time and strong buyer demand.




While any astute real estate professional will tell you it's nearly impossible to time the real estate market, there is one week that is most likely to get home sellers the best possible outcome, according to Realtor.com. Nationally, homeowners who list the week of April 16-22, 2023 will hit the sweet spot in terms of the best combination of higher prices, fewer homes to compete against, faster sales time and strong buyer demand.

 

While any astute real estate professional will tell you it's nearly impossible to time the real estate market, there is one week that is most likely to get home sellers the best possible outcome, according to Realtor.com. Nationally, homeowners who list the week of April 16-22, 2023 will hit the sweet spot in terms of the best combination of higher prices, fewer homes to compete against, faster sales time and strong buyer demand.

 

While any astute real estate professional will tell you it's nearly impossible to time the real estate market, there is one week that is most likely to get home sellers the best possible outcome, according to Realtor.com. Nationally, homeowners who list the week of April 16-22, 2023 will hit the sweet spot in terms of the best combination of higher prices, fewer homes to compete against, faster sales time and strong buyer demand.

 

While any astute real estate professional will tell you it's nearly impossible to time the real estate market, there is one week that is most likely to get home sellers the best possible outcome, according to Realtor.com. Nationally, homeowners who list the week of April 16-22, 2023 will hit the sweet spot in terms of the best combination of higher prices, fewer homes to compete against, faster sales time and strong buyer demand.

 

While any astute real estate professional will tell you it's nearly impossible to time the real estate market, there is one week that is most likely to get home sellers the best possible outcome, according to Realtor.com. Nationally, homeowners who list the week of April 16-22, 2023 will hit the sweet spot in terms of the best combination of higher prices, fewer homes to compete against, faster sales time and strong buyer demand.

 


Posted in:Real Estate Market and tagged: real estate
Posted by Richard Binkowski on March 16th, 2023 5:29 PMLeave a Comment

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March 13th, 2023 7:19 PM

 

The President, in a televised address, said that deposits in SVB and Signature were safe and customers would have access to their money starting Monday and no losses would be borne by taxpayers. However, management of both institutions have been replaced. The Wall Street Journal reports that Biden will ask Congress and banking regulators to strengthen the rules for banks, to “make it less likely this kind of bank failure would happen again.”




The President, in a televised address, said that deposits in SVB and Signature were safe and customers would have access to their money starting Monday and no losses would be borne by taxpayers. However, management of both institutions have been replaced. The Wall Street Journal reports that Biden will ask Congress and banking regulators to strengthen the rules for banks, to “make it less likely this kind of bank failure would happen again.”

 

The President, in a televised address, said that deposits in SVB and Signature were safe and customers would have access to their money starting Monday and no losses would be borne by taxpayers. However, management of both institutions have been replaced. The Wall Street Journal reports that Biden will ask Congress and banking regulators to strengthen the rules for banks, to “make it less likely this kind of bank failure would happen again.”

 

The President, in a televised address, said that deposits in SVB and Signature were safe and customers would have access to their money starting Monday and no losses would be borne by taxpayers. However, management of both institutions have been replaced. The Wall Street Journal reports that Biden will ask Congress and banking regulators to strengthen the rules for banks, to “make it less likely this kind of bank failure would happen again.”

 


Posted in:Banking
Posted by Richard Binkowski on March 13th, 2023 7:19 PMLeave a Comment

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March 8th, 2023 6:56 PM

The U.S. supply of homes for sale rose at a record annual pace for the sixth month in a row, up 67.8% year-over-year in February, signaling the housing market's continued rebalancing, according to the most recent Realtor.com® Monthly Housing Trends Report.  Despite the significant increase in inventory over last year's record lows, home prices are still growing, albeit at a slower pace of 7.8% over last February, a sign of still-high hopes from home sellers entering the market.

 


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Posted by Richard Binkowski on March 8th, 2023 6:56 PMLeave a Comment

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March 2nd, 2023 11:41 AM

Pending home sales improved in January for the second consecutive month, according to statistics released today by the National Association of Realtors. All four U.S. regions posted monthly gains but saw year-over-year drops in transactions.

The Pending Home Sales Index improved 8.1% to 82.5 in January. Year-over-year, pending transactions dropped by 24.1%. An index of 100 is equal to the level of contract activity in 2001.


Posted in:General and tagged: real estate
Posted by Richard Binkowski on March 2nd, 2023 11:41 AMLeave a Comment

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February 27th, 2023 7:00 PM

 

Pending home sales improved in January for the second consecutive month, according to statistics released today by the National Association of Realtors. All four U.S. regions posted monthly gains but saw year-over-year drops in transactions. 

The Pending Home Sales Index improved 8.1% to 82.5 in January. Year-over-year, pending transactions dropped by 24.1%. An index of 100 is equal to the level of contract activity in 2001.


Posted in:General and tagged: real estate
Posted by Richard Binkowski on February 27th, 2023 7:00 PMLeave a Comment

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