Ulster County Real Estate: Housing market Good or Bad?
In our current economic times, one hears that now is the time to buy a home. With historically low interest rates, and many new & different programs to take advantage of, this could very well be the best time to buy.
But, what about the first time home buyers who are not so sure about where they will be in 5 years? They want to buy, but are afraid to make a bad decision? The answer is a 2 family home... yes, a two family home. The market has so much to choose from, in terms of 2 or multi-family homes. The reason is this, getting a mortgage on a non-owner occupied home is very difficult with mortgage companies tightening their belts on income properties. But, the whole story changes if you are an owner occupied two family. Add to that, few people are looking into multi's and you have a recipe for powerful negotiation.
So, now.. lets recap
Historically low interest rates
Lots of inventory
Properties have been on the market for a while with NO lookers (due to difficult mortgages, of non-owner occupied)
Owners anxious to make a deal
Really, what could be better?
We have a couple of two families’ that fit that exact scenario! Give us a call; let’s see if we can find just the right house for you!