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Hudson
Valley NY Real Estate Blog
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Wednesday, August 13, 2008
Under the new Housing Bill signed by President Bush, homebuyers can receive a credit of up to 10% of the purchase price of a new home if they have not purchased a home in the last three years. The maximum credit amount is $7500 for two individuals purchasing the home jointly. The credit applies for homes bought after April 9th of this year and extends until July 1, 2009. Income restrictions do apply. This is another good incentive to get buyers off the fence and another reason why it is a good time to purchase a home in Ulster County.
Wednesday, August 06, 2008
Ulster County Real Estate data for July 2008 revealed a decrease of 21% in the number of homes sold compared to July 2007. The drop was much less than the 42% reduction seen in June. The median home price was 270,000--only 1.3% less than a year ago. The median price data indicates that although sales have dropped significantly, the prices of sold homes remain close to where they were last year.
Sunday, August 03, 2008
The Daily Freeman is reporting that the Assessor for the Town and Village of Saugerties has begun the process of inspecting the exterior of homes in order to update assessed values. Revaluations should be complete by the end of the year. There are approximately 9,400 properties to inspect. A common misconception is that when a revaluation occurs that taxes will often go up for most residents. The primary purpose of a revaluation is to make sure that all properties are being assessed fairly and equitably.
Friday, August 01, 2008
A report prepared by the state Commission of Investigation indicated that Ulster County was ranked #18 among New York counties in the number of foreclosures for the first quarter of 2008. Ulster County had a total of 114 foreclosures, which represents only .8% of all foreclosures in New York. Downstate has been hit hardest by foreclosures--82% of all New York foreclosures in the first quarter occurred in the downstate area.
Thursday, July 31, 2008
The Daily Freeman is reporting that Walmart is prepared to submit site plans within the next couple of months to build a superstore in the old Ames plaza in Naponoch. If built, it would be a big commercial boost to the area and could have a positive impact on residential Ellenville real estate.
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