The big question remains: “Is it a buyer’s market?”

All depends who you ask, according to the statistics released today by the Greater Association of Realtors.

In retrospect, the data released today reflects contracts that went into effect 2 to 3 months ago, is that a good snapshot of today’s economy?

Even though the numbers, at first glance, don’t look great, let me explain:

To get a true perspective, only Resale data is relevant.  New Construction is not reflective of the market, since most new construction has not yet been completed, and the builders can hold onto their vacant land.

Looking and understanding the Resale numbers:

                                                April 09                       2009 to date

Entire CRMLS                     -22%                           -24%

# Residential

Closed Sales (Units)

 Median Sales (Price)           -3%                             -5%

Albany County

#Residential                          -19%                           -17%  

Closed Sales (Units)           

 Median Sales (Price)           +1%                            -1%

Saratoga County

#Residential                          -21%                           -24%  

Closed Sales (Units)           

 Median Sales (Price)           -2%                             -5%

Schenectady County

#Residential                          -13%                           -22%  

Closed Sales (Units)           

 Median Sales (Price)           +13%                          -6%

Rensselaer County

#Residential                          -26%                           -33%  

Closed Sales (Units)           

 Median Sales (Price)           +30%                          +28%

This data shows clearly that the Capital Region is a steady market with no desperate sellers.  So is it a Buyer’s Market or a Seller’s Market?  In my opinion, this is a NORMAL and STABLE market with no major swings either way.

My advice to Buyers is that this is a great time to buy, with the interest rates at historical lows, the tax credit and the potential of future appreciation.

If you are a Seller, this is a good time to sell. Buyers are looking, and if your home is priced appropriately, it will sell.

 Data provided by the Greater Capital Association of Realtors

I’m proud to say that we have the TechValley homes team getting ready for the Freihofers run for Women. Is a 5K run “It’s not just a competition. It’s a celebration of women. Come experience the thrill of a lifetime at the Freihofer’s Run for Women in Albany, NY” as quoted in their website http://www.freihofersrun.com/

Our team members are:
Jill Birdsall
Mary Bolognino
Beth Kaufman
Michele Burns
Susan Sommers
Way to go!!!!!

I just saw a report on the news, were the report spoke about getting creative when selling the house, this particular agent decide to have an open house and serve wine and have an art expo.

I truly believe that the only thing that sells the house in the price, not the location, wine or anything else that we might try. At the end of the day the buyer decides how much is the house worth to them and no matter how creative we get at the end of the day is the House….

I would truly suggest that if you like to sell your home as quickly as possible listen to your Realtor’s suggestions and they will get the job done.