Albany NY Real Estate

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Description and Features

Bedrooms: 4 Bathrooms: 2.5 Square Feet: 1834 Lot Size: 52272 Year Built: 1988

Location

Click to view map: 22 Indian Maiden Pass Altamont NY 12009

Links

Albany NY Real Estate Altamont NY Real Estate Albany NY Real Estate Blog Listing Website

Buyers inability to obtain financing is your gain! Ready to for immediate occupancy. Pool will be open soon!

The talk of recessions and media hype about foreclosures seems to have created renewed interest in HUD homes.  HUD homes are homes that were purchased by a buyer using an FHA insured Mortgage. The buyer defaults and HUD sells the home. The very first home I ever purchased was a HUD home. Funny I think I locked in at an 8% mortgage rate on that home and thought I received a great rate! Now you can do the same in the high 4% range! I can remember years and years ago driving to HUD's Albany office every Friday morning to get a printed list of new homes on the market at 7:00am when the office opened.  This was the only way to do it and only a handful or brokers were aware of the process. Now all HUD homes are available online so you don't need to set your alarm!  The availability of HUD homes online is both good and bad. It is great because it makes it easier for you to view homes from the comfort of your own home. However,the overall exposure the homes receive has increased and multiple office and sale prices above listing prices are common.  If you are interested in more information on purchasing a HUD call me or search the homes available by county at  Albany NY HUD Foreclosures  These homes require a thorough inspection and generally need considerable work. HUD will not make repairs so be ready to do some work. Despite rumors and urban legends to the contrary you can't buy one for $1!

It seems like every spring I write about how hot the real estate market is. Well here is my update again. Despite how the media portrays the doom and gloom of real estate homes are selling quickly, and  multiple offers  are again common in the Albany market. In the past two weeks, I have been involved in three multiple offer situations on both the buy and sell side.  Even when I call listings agents for appointments, I am amazed at the number of homes already under contract with less then a  week on the market.  With great interest rates, Up to $8,000 in tax credit money available, and reasonable listing prices, buyers are literally coming out in droves. Now more then ever speed becomes essential. If you are interested in a home new to market it is important to view it immediately. The bulk of showing activity happens in  the first 3-4 weeks. After this you will generally start to see a decline in the frequency of showings depending on the marketing program done by the agent. If you see a home new to the market call immediately to set up a showing! 

One more comment on multiple offers. If you are a buyer in a multiple offer situation be sure to write a personal letter about yourself, your family, and why you want the home. As a listing agent, I see this occasionally but not often. As a buyer's agent, I always have my buyer's write a personal letter. Sure seller's are mainly interested in the bottom line. However, you would be surprised how many times a well written personal letter will sway a seller to accept one offer over another.  I have had buyer's win two of the last three multiple offers I presented. You guessed it, both I won included a personal letter from the buyers.

If you want to talk about additional strategies for getting your offers accepted call or email me anytime or visit me online at Albany NY Real Estate Deals