Double Edged Sword.

Our local market continues to adjust. As inflation woes continue to escalate, the federal government will continue to push interest rates higher in an attempt to slow down the ongoing threat. Mortgage rates have now exceeded 7%, while threats to even higher rates loom. We are also seeing inventory of our local residential properties slowing climbing, as fewer buyers are remaining active. We have seen a drop in sales activity from last year, where in the first ten months, 706 residential properties sold, while this year only 566 sold. That’s nearly a 20% drop in total residential properties. While total sales transactions are falling, the median sales prices are rising, again due to limited inventory for those still active in the market. The average days on the market, for those properties priced realistically, thus far this year is only 43 days. If you are thinking of selling, my advice don’t hesitate. The market continues to remain active due to increase demand, so I don’t see any drastic change in the near future. If you are thinking of selling, don’t hesitate. Good luck whether you’re a buyer or seller!

6 Tips For Home Buyers

  • Get Prequalified For A Mortgage Before You Shop
  • Find An Experienced Agent In The Area That You’re Interested In
  • Don’t Hesitate To Make An Offer Quickly
  • Find Out What Is Most Important To The Seller
  • Limited The Number of Contingencies In In Your Offer, Keep Home Inspection
  • Remain Flexible Should You Need To Negotiate

Jennifer Sesma Earns Title of Licensed Associate Real Estate Broker

Charles “Chuck” Bartolo, Principal Broker of Beach & Bartolo Realtors, is proud to announce that Jennifer Sesma has earned the title of Licensed Associate Real Estate Broker. Beach & Bartolo’s team includes 17 Realtors, nine of which, including Jennifer, have earned the coveted title of Associate Broker.

Jennifer Sesma is a trusted Associate Real Estate Broker working in the Hudson Valley. Her refreshingly honest style and creative approach sets her apart from other brokers in the area.

Jennifer was named the 2020 Rookie of the Year by the Columbia Greene Board of Realtors, and obtained her Associate Real Estate Broker license after 2.5 years as a Licensed RE Salesperson.  She has earned multiple National Association of REALTORS®’ [NAR’s]  Designations and Certifications, including Accredited  Buyer’s Representative (ABR), GREEN, GRI, PSA, RENE, RSPS

Before real estate, Jennifer had a successful career operating a chain of specialty boutiques across Manhattan, Westchester County, and Connecticut. After 16 years in the corporate world, she made a pivot and hasn’t looked back. 

Jennifer brings a fresh perspective to her business and she understands that buying or selling a home is a deeply personal experience.  With her creative background, years of visual merchandising, and customer service experience, Jennifer knows that first impressions matter with her listings, even in a sellers market.  She offers staging consultations, professional photography, video, and virtual tours for all her listings to ensure each listing is represented in the best possible way. Jennifer markets her listings on social media and traditional channels to reach as broad an audience as possible, a win for her seller clients.  As an Accredited  Buyer’s Representative (ABR®) she goes the extra mile, guiding her buyer clients through the entire process from the initial search, negotiations, securing an accepted offer, closing the deal on time, and all the other steps in-between. 

Jennifer currently serves on the Board of Directors and as the Chairperson of the Education Committee for the Columbia Greene Board of Realtors.  She also serves on the Planning Board in the Village of Chatham.

Jennifer is a big fan of old houses, of which there are plenty in the Hudson Valley.  She’ll probably be forever working on her 1890s Victorian in the Village of Chatham.  In her spare time you may find her gardening or hanging out with her dog and enjoying village life in Chatham.

Jennifer welcomes the opportunity to help you with any of your real estate needs, or simply to answer any Real Estate questions you may have. She can be reached at 518-392-2700 extension 118.

Where Is Our Market Heading?

This is a question I’m often asked and there are no simple answers as there are many factors that impact all markets. Most impactful is our limited inventory of residential properties. Many would-be sellers continue to question where they would go should they decide to put their homes on the market. Home prices have risen in just about every market in the US. What we are certain of is that there doesn’t appear to be any conditions where we can expect a surge of new properties coming into the market any time soon. I do believe we will see fewer buyers enter the market as mortgage rates continue to move higher. However, for at least the near future, I see the market to remain a strong sellers market.

Buyer’s, Don’t Panic

Today’s home buyers are becoming more and more frustrated, especially since the start of the Covid pandemic. They often get caught up in bidding wars when they finally find a home that is suitable. Adding to that stress is that this a decision that can be a life altering event, while also being one of the biggest financial decisions buyers will ever have to make. As difficult as this is, you should try to not allow your emotions to direct your actions. By entering into a competitive situation, and perhaps over paying for a house, buyers may make a mistake that they could regret later on. I have also witnessed buyers remove a home inspection contingence in order to make their offer appear more attractive to the seller. In my opinion this is not a wise option as serious problems may turn up later on, that not only could be serious in nature, but also extremely costly. Once you own a home, in the long term you can generally expect to see growth in the appreciation of the property value. However, should circumstances occur where you would need to sell it, in the short term, you may not be able to recover your investment. All markets go through cycles. This seller’s market will not continue indefinitely, unless you must buy now, perhaps because of a job relocation, I don’t recommend you make any hasty emotional decisions. The stakes are much too high. Plan ahead, and good luck in what ever decision you make.

Smart Move

Home owners who are considering putting their homes on the market often ask me what suggestions I may have for them prior to listing their homes. Except in rare cases of newer homes, I always recommend a pre-listing home inspection. The reason is simple, too often I have witnessed sales fall through after an buyer does a home inspection. The reason being that they may have uncovered a condition they were not aware of doing their initial visits to the property. Often even the homeowners are surprised. Why gamble on losing a potential buyer. A pre-inspection can alert the seller of a problem, whereby it can be addressed prior to the home going on the market, often for a lot less money than a potential buyer will be asking for. If you uncover a problem and address it, your agent can include that upgrade in their marketing remarks and that could sometimes result in you even getting a better price. Sometimes a home inspector will offer a less costly pre-inspection charge. Get some suggestions and advise from your local Real Estate professional, they know the inspectors and can make sound recommendations. Think of this a small investment that can many times pay big dividends.

A Seller’s Market

With residential inventories at historically low levels, sellers are in a unique position of not only getting their full asking price, but many times, getting over asking. When demand exceeds the supply buyers are forced to be in competition with each other. One smart strategy being used by sellers is to list the home a little below its true market value. How long will these conditions continue, no one can say for sure. Savvy sellers are hiring experienced real estate agents with proven track records in the area of the their home or property. An agent needs to know the market values of not only the homes that have sold, but also of those you will be competing with. This is essential
in order to design a marketing strategy that will lead to a quick sale. A seller’s market does not mean you can list a house that is not in good condition and in need of lots of work or attention and still expect to get a premium price for it. There may be more buyers than in a typical market, however these buyers are not going to buy a bad product or overpay for it. Seasoned agents are your best resource to get sound advice before jumping into the market.
Good luck!

Red Flags In Our Real Estate Market

People are asking, “How long can we expect this sellers market to continue?” Not an easy question to answer. Here are some interesting trends to look at that might help. Last month, 67 residential properties closed, while this month that number fell to 50. While limited inventory continues to cause home prices to rise, sellers need to realize that no market continues to rise indefinitely. More listings should become available this summer. However the fears of inflation & the threat of higher mortgage rates could slow down the pace of home price appreciation. If homes sit on the market longer, our market will then accumulate more active listings. As more Americans get vaccines, more sellers may be willing to put their houses on the market and that could help to create a ceiling on the median home price growth. As inventory rises, prices will become more stabilized. Again a word of caution for potential sellers, waiting to put your property on the market may not be a good option at this time.