November 2009

There are 8 blog entries for November 2009.

This past spring, Anna Sember, a stager who owns The Well Dressed House, staged two homes that Murphy Realty Group had for sale in Historic Uptown Kingston, Ulster County New York.

p4309370-edit_2560The homes had been on the market before in 2008, and although had showings, they had not received any offers. Within a few weeks of the homes being staged, we had offers which led to the sale of both homes.

In today’s economy, many sellers feel they don’t want lay out the extra cash to have their homes staged. Those sellers might want to think again.

When showing a home, I find the most important thing to a buyer is the feeling that they can see themselves living in the home. When a buyer walks into a home and says “I could live here”, you know that they are making an

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It is far too easy for all of us to get consumed with the trials and tribulations of Ulster County Real Estate. Unfortunately, we sometimes loose sight of the important things in life, like family. Thursday was Thanksgiving, and not unlike many of you, our home is a central location for family to celebrate the season. Kids, adults, dogs, food, no sleep, a thousand activities, etc, etc…is the gift that we all seem to patiently wade through during family gatherings.

 

If you are any thing like me, you do some planning to send the relatives off in different directions for shopping, events, to see old friends, or just to take a ride to see the old neighborhood. Since I live in Saugerties, the Woodstock and Kingston areas are popular locations for a shopping

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A place to cook, do homework, computer work and even maybe laundry. Kitchens have evolved over the years as families have become busier, and schedules more ambitious.

Long gone are the days of mom staying at home to make Roast Beef and Mashed Potatoes. Today’s Real Estate consumer is looking for a multi-purpose Kitchen / Great Room. Some perks include wainscoting, granite, soapstone, big beautiful porcelain sinks, stainless appliances, brushed Nickel fixtures, and if at all possible, a fireplace – yes, a big beautiful fireplace with overstuffed furniture for comfortable conversation.

People are generally willing to do cosmetic work, painting, even update bedrooms – if they have a beautiful kitchen they can picture themselves in. 

We are happy to help you…
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Now that the Federal Government has extended the first time home buyers program, and expanded it to allow access by a greater number of individuals, will we return to traditional lending standards when the program is completed? If we do not, are we then creating a new housing bubble? Are we creating the start of a new bubble with the use of this program?

 

I don’t believe that anyone familiar with the industry would deny that Banks were only too eager to loan whatever amount borrowers wanted, then for the most part, package and sell the loans. The result is that nationally, we now have approximately two trillion dollars in loans that will probably as of now, never be repaid, at least not in full. So if we are not building a new housing bubble by the use

1,525 Views, 1 Comments.

tax-credit1_400There’s been a lot of buzz throughout Ulster County & the Hudson Valley, along with the rest of the industry for weeks regarding the Home Buyers Tax Credit. By now, I’m sure you’ve heard of the First Time Home Buyer Tax Credit being extended, and you may have heard that there have been some improvements. So, here’s a breakdown of the basics……

The Home Buyers Tax Credit for 2009 was for first time home buyers that purchased a residential home by Dec. 1 2009.  But the Extended version has made it possible for people to qualify up until April 30, 2010.

The “Improved” part Of the Home Buyers Tax Credit means that you may qualify if you didn't before.  The income level has risen and no longer is limited to first time home buyers. 

So here are some

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When you contemplate selling your home you probably think about straightening up, storing away some of the clutter and maybe doing some minor repair or painting to freshen it up for viewing.  But often times its not necessarily the mess that keeps potential purchasers and their agents away but your very own lovable pooch or kitty.  We can all understand how “ Viper”, your snarling, tooth baring brute of a dog could prevent showings, but it can also be a factor with your lovable tail wagging beagle “Rex” or “Ms. Kitty” your purring little fluff-ball.   While many people love pets, it is still a good idea to take your dog for that long walk or car ride into the country while the house is being shown.  The last thing you want is for the potential purchaser

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8000-tax-credit11-1_245So the Congress has passed the “new and improved” Home Buyers Tax Credit. Good for the Real Estate industry, very good for the home buyer, maybe not so good for the taxpayer. You hear the arguments for and against the program which will spend upwards of $45 billion, but the reality is that the industry is hurting badly and this will provide some relief nationally. Additionally, the potential for increased spending by new home owners on their new purchases should help the trade’s people and ancillary housing suppliers such as furniture sales.

 

This program is not a perfect solution, but then again, “Is there a government program that is?” The Home Buyers Tax Credit is much more closely aligned to helping Main Street, than all the “bail out” money spent

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 I’m John Murphy, Principal Broker of the Murphy Realty Group, which is located in Historic Uptown Kingston. I just wanted to take a few moments to write down some thoughts on the current state of the Real Estate market in Ulster County, and the Federal program that will, I believe, provide us some relief.

 

Regardless of your individual positions in regards to the housing market in our area,

I believe that all would agree that we are wallowing in a crisis, which is a result of market forces well beyond our control. Therefore, it is my belief that the First Time Home Buyers Tax Credit, the original program, and the current subsequent extension which passed the U.S. Senate on 11/04, and will dedicate $45 billion dollars to extend and expand

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