• Wappingers Office
    (845) 297 4700
    (845) 297 8178
  • Lagrange Office
    (845) 485 2700
    (845) 485 2703
  • New Paltz Office
    (845) 255 6163
    (845) 255 6757
  • Commercial Real Estate Division
    (845) 297 4700
    (845) 567 8333

Joseph Pettinella's blog

Real Estate Market Trends - Why Homeowners Are Not Selling

As we move through the Spring season, we keep getting more good news.  Nationally most the real estate news is good, and the Mid-Hudson Valley is conservatively following the same pattern as the nation.  The only negative news seems to be the continued low inventory levels that are keeping the numbers down to a lower level than they would otherwise be.

I was reading a survey that was conducted by an Association of REALTORS® in a Midwestern state (not New York) that showed that the reasons that homeowners are not selling have drastically changed over the past few years.  

In 2012, the most common reason for not selling was that homeowners were waiting to sell for a higher price, with 59% selecting this response. The next most common answer, concerns about the economy, came in a close second with 56%. 50% indicated that would-be sellers' homes were underwater. In a distant fourth, only 16% of survey participants indicated that potential sellers weren't selling due to a lack of homes to buy after selling their home.

Compare the 2012 responses with those from last month's survey, and the changing attitudes are dramatic:

Mansions & Castles of the Hudson Valley

The Lyndhurst Mansion is highlighted in this video, which is the first in a series of 3 videos of the major mansions, or castles, along the Hudson River in New York's Hudson Valley.  The history of this region is so interesting!  When the video finishes, you have the option to view the 2nd and 3rd videos of our local 'royalty' and how they lived.

Beacon New York - Art, Music, Eateries & People

Watch the video for a look at the town of Beacon New York, its people, and its charm.  From unique gift shops, to art galleries, music stores, bars and restaurants, to it's scenic surroundings, Beacon is a gem of tradition and pride.