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New York State Housing Statistics January 2016

Submitted by Joseph Pettinella on February 23, 2016 - 1:46pm

How is the real estate marketing looking for the State of New York?  Continued slow and steady growth is expected throughout 2016 . . . a sign of a healthy market.

Real Estate Market Update January 2016

Submitted by Joseph Pettinella on February 22, 2016 - 1:16pm

Recent changes in legislation could make foreign investment in U.S. real estate more attractive.  Learn more about the changes as well as get an update of where the real estate market currently stands . . . January 2016 Market Update.

IRS Warning - Beware of Tax Scams This Time of Year

Submitted by Joseph Pettinella on February 5, 2016 - 5:54pm

It's tax time again, and this is the time of year when phishing email scams, telephone scams, and phony IRS websites are prevalent.  Please share this important information with your relatives and friends to warn them not to respond to any emails or phone calls from people claiming to be IRS agents.

Something important to know:  The IRS will ‪never initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels.

If you do get a call from someone claiming to be the IRS, you should not talk to them or give them any information no matter what they say.  If you know you owe taxes or you think you might owe taxes, call the IRS at 1-800-829-1040. If you know you don’t owe taxes or have no reason to think that you owe any taxes (if you’ve never received a bill), call and report the incident to the

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Planning to Sell Your Home Soon? Do This First!

Submitted by Joseph Pettinella on January 28, 2016 - 4:58pm

Put yourself in a buyer's shoes and walk through each room of your house, and evaluate every area of your home, inside and out.  Be honest with yourself.  If you were looking to buy in your neighborhood, what would you think about your own house?

Make a list of items that need to be repaired or replaced, and things you can do to make your home more appealing.

For example, start in the entryway and make a list:

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Beacon Named Top Northeast Destination by Getaway Mavens

Submitted by Joseph Pettinella on January 14, 2016 - 6:03pm

Getaway Mavens, a travel website that specializes in finding eclectic getaway locations with unique shopping, dining and lodging experiences has selected Beacon as the top getaway location in the Northeast!  

Beacon earned this spot because of Dia:Beacon, a world-class art museum and tourist attraction, Bannerman Castle, as well as a plethora of one-of-a-kind shopping experiences, craft wines and beers, unique dining for all tastes, and some great hotels and bed & breakfasts.  

Read the post about Beacon on Getaway Mavens website to remind yourself of all the reasons Beacon is a great place to visit . . . and to live.  

Also check out their list of the top 20 places to visit in the Northeast.

How Is YOUR Mortgage Interest Rate Determined?

Submitted by Joseph Pettinella on January 13, 2016 - 5:20pm

The good news for buyers is that mortgage interest rates continue to hold below 4%.

Freddie Mac's weekly survey of lenders showed that for the week ending January 7, 2016, the average rate for a 30-year fixed-rate mortgage was 3.94% with an average of 0.6 point, and the 15-year fixed-rate mortgage averaged 3.26% with an average of 0.5 point.

Those are average rates, not the rates that everyone will get.  Understanding the factors used to determine the interest rate that you may be offered are important to help you make good decisions.  What are they?

  • Credit Score
  • Home Location
  • Home Price and Loan Amount
  • Down Payment
  • Loan Term
  • Interest Rate Type
  • Loan Type

The Consumer Financial Protection Bureau has a thorough explanation of how all these factors work together to determine the interest rate and an interactive tool to help you understand how interest rates change as each factor changes.  The more you know about it, the better equipped you will be to find the best mortgage to fit your needs (and save you money!).