We all wish we had that magic ball to predict the market! Inventory is still high in Northern Ulster County. However Springtime does tend to bring out more buyers. Pricing is key in this market to draw prospective buyers to view the property in person. Buyers today know what they want and they will keep looking until they get it.
You say the property needs a lot of work. Does it need structural work, cosmetic work or both?
West Hurley is a lovely area and her home may be just what someone is looking for even if they have to put some time and money into it to make it shine.
If she truly wants to sell her home the Spring market would be great timing.
I'd be happy to take a look at her home and give her a professional market analysis.
It really depends on the property and how much work your friend wants to do to get the property ready. Many properties under $400k are selling well because they can get good interest rates on non-jumbo loans. There are many buyers looking right now, but your friend should really enlist the help of an experienced real estate agent so he/she can maximize the return on investment.
If you have any questions, I am happy to answer!
With this said, your friend might benefit from waiting until spring to list the property. This will accomplish two things. It will allow for the return of the normal annual market and it will provide several months of adjustment to the new Obama initiatives.
We are all hoping for progress.
Thank you for submitting youe question.
The interest rates have dropped and the buyers are out ! I think the first plan of action would be to have realtor look at the home and assist you in getting it ready for market. The next step would be to get a CMA or comparative market analysis from a local realtor to see where the home should be priced. It would be valuable to see recent solds and also what is presently on the market to competitively price the home.
Century 21 Princeton Properties