For Sale by Owner Albany

09/16/2022

Open House Saturday from 12-2pm

For sale This 1845 square foot single family home has 4 bedrooms and 2.0 bathrooms. It is located at 23 Van Woert Ct Wynantskill, New York.

08/26/2017

Just Listed 2805 NY Rte. 43
3 Bedroom 1 Bath
$179,900

Check out the 3-D Showcase by Clicking the picture below

The house at 2805 Route 43 was once the Brookside Institute, a preparatory school for the children of many local families in the 1860's. The institute was conducted by Harvey H. Boone, a son-in-law of Albert H. Fox, on whose land the school was built. An interesting feature of the building is the red glass in the three-and-a-half-story tower. Located next to the historic Fox Mansion, alumni of local interest include William F. Sliter and James Knox Averill.

Warm and inviting country home with room for expansion. Don't let this gem pass you by. From the hardwoods to the stunning natural woodwork, this home is sure to impress. Located just moments from everything this quiet bedroom community has to offer,you'll love the workshop or large yard for a family get together. This home is a pleasure to view and an affordable way into a great school dist. Better hurry. This home is sold as is. All defects have been reflected in the price.

Rob Dawes
Capital Region Real Estate Group LLC.
Broker/Owner
(518)859-2002
[email protected]

08/25/2016

3D Showcase

04/22/2016

As you may or may not know, there has been a change in the STAR Program. New York State homebuyers will now be unable to use the STAR program as an exemption to reduce their school tax bills. This change applies to anyone who purchased a primary residence in NYS on or after March 2nd, 2015. Homeowners will now need to apply for a credit when they file their tax returns. This means that instead of receiving an exemption on your school tax bill, borrowers will be credited during tax time.
Anyone who owned their primary residence prior to this date is grandfathered in at this time and would continue to see the reduction as part of their bill.
If you or any of your clients have any questions about this change, please feel free to contact me.
Sincerely,
Rob


Rob Beaulieu
Branch Manager/Licensed Loan Originator
518-464-1100
518-573-2432
[email protected]

03/11/2016

Saturday Night Spring Forward!

04/30/2015

4 Reasons to Buy a Home This Spring

It’s not just temperatures and tulips that are on the rise these days. Interest in home buying is way up, too.

The home buying season is about to get under way, and it’s expected to be a busy one. Here are four factors that are likely to influence buyers.

Low mortgage rates

Everyone knows that the low-rate party is coming to end. Zillow is forecasting that mortgage rates – currently around 4 percent for the 30-year fixed – will rise to 5 percent by the end of 2015.

Granted, a 1-percent rise may not sound like much, but it’s a great motivator to get in and buy now. After all, a 1-percent increase in rates reduces affordability by a whopping 11 percent.

Confidence

Zillow’s Housing Confidence Index (ZHCI), which is designed to offer insights into homeowners’ and renters’ intentions and attitudes concerning the housing market, is a forward-looking gauge of housing market health. And things are looking up.

Confidence in the housing market is higher this year than it was last year — among homeowners as well as renters, many of whom are now rethinking their attitudes toward home ownership and are ultimately becoming more interested in buying.

High rents

Rental affordability is as bad as it’s ever been across the U.S., in part because there are not enough new, affordable units to meet demand. Renters can expect to spend 30.1 percent of their income on rent, while home buyers can expect to spend about 15.3 percent of their monthly income on a mortgage payment.

Those numbers alone are driving renters who can save for a down payment to pursue homeownership. In fact, data from Zillow shows that 5.2 million renters want to buy in the next year. That’s up from 4.2 million renters from the same time last year — almost a 25-percent boost.

Loan availability

Getting a mortgage is significantly easier than it was a year ago, and the markets are rapidly approaching pre-crisis credit conditions.

What this means to borrowers: Those who last year may have only been eligible for an FHA loan are now being offered conventional loans with private mortgage insurance. As lenders open their doors wider, borrowers have more options, with competitive terms and rates.

04/24/2015

First-Time Home Buyer's Guide to Choosing a Neighborhood

Define your priorities and preferences to narrow down your search.

When you’re ready to buy your first home, you’ll probably remember those three important words we always hear about real estate: location, location, location.

While the geographic location is important, it’s also the amenities around the location that make a house a home. Every buyer is different in what they desire, so you need to find a neighborhood with the location and amenities that fit your desires — and, just as importantly, your budget.

Affordability

Location is one factor that will heavily influence the price of a property. You don’t want to shop in locations you can’t afford — even though it might be fun.

The first task in your home purchase process is getting pre-approved by a bank or mortgage lender so you understand the ballpark within which you will be playing ball. Inform your real estate agent about your price range so they can identify the locations where you can afford to purchase.

Neighborhood type

You also need to figure out what works for you when it comes to the type of location you like: urban, suburban, or rural. Many people live in and love high-density areas where retail, restaurants, gyms, and grocery stores are all within a few blocks’ walk. It’s nice to be able to walk to everything — but with that comes lots of cars, people and sometimes noisy neighbors.

Other home buyers prefer quieter suburban developments that are probably going to require driving for one’s commercial and entertainment needs.

Then there are rural folks who want full quiet and no nearby neighbors. Make sure before you shop that you are shopping in the right type of area for you.

School district

Schools also make a big difference for many buyers, and a buyer will certainly pay for the best school district. School quality is one of the top items on a parent’s mind when looking for property. You can search the Internet for school ratings and check with the city or county for more information.

Of course, if you don’t have children, it’s not as big a deal.

What’s next door — or could be

You should also always consider what is next door to the property you buy. Will you be living among lots of single-family houses, or big apartment buildings?

It’s also important to know if there are currently or once were gas stations or chemical plants nearby. Drive around and look, plus check Natural Hazard Reports to see what is or was in the area.

Additionally, be cautious about empty developable lots or empty retail/warehouse properties nearby, as you never know what might end up being built there.

It’s also smart to understand the zoning on your property, as it might let the single family home next door be torn down and developed into a 4-plex rental property. That might or might not be okay with you, but you should be aware if it’s a possibility.

Holdability

One more important item to consider regarding location is your chances of owning the property a long time. If you are not sure you’ll be happy staying a while, you’re better off passing on buying for the time being.

Considering all these issues — as opposed to making a quick purchase decision based on what your heart is telling you — should help you buy a home that is a good fit, will serve you well, and will be a good investment for your future.

04/23/2015

5 Questions to Help You Find the Right Buyer's Agent

Get the information you need to choose the best guide for your home-buying journey.

The relationship between buyer and seller is one that could last a very long time. The dynamic home-buying process can take unexpected twists and turns, so having the right agent by your side makes all the difference.

Unlike a seller, who signs an agreement with an agent, a buyer rarely has anything in writing that binds them to an agent or requires an agent to perform particular tasks. This makes it important to choose the right agent, instead of just jumping in with the first one who comes along.

What’s most important is to go with your gut. This person will be a significant presence in your life while you search for a home. Above all, you must feel comfortable with them.

Here are some questions to ask a buyer’s agent before you start working with them.

How long does it take typical buyers you’ve worked with to find a home and close?

If he tells you that his typical buyers move quickly, within weeks or a month, he is probably used to working with buyers who’ve done a lot of independent research prior to engaging the agent. If he says it’s more like a year or longer, he is likely more patient and lets the home-buying process run its course.

In which towns or neighborhoods do you do the most business?

Agents tend to focus on where and what they know. Most have a solid knowledge of a few towns, and then a cursory knowledge of nearby areas.

Your home search can take you through multiple towns and school districts. If you start working with a real estate agent you meet at your first open house, and she only truly works in that town, someone else for another area may better serve you. But its better to have one agent throughout the process, which is why good agents typically cover a broader geography.

Do you work independently or with a team? Do you have an assistant?

Home buying is incredibly personal, so you want to make sure you know who you’ll be working with. It’s helpful to have the same person by your side during the journey so they can track your experience.

Ask your agent what her arrangement is and make sure you are comfortable with it. If she works with assistants or junior agents, make sure you won’t be pushed off to someone with less experience.

How do showings work?

There are multiple ways to see properties, and the most effective approach is different for every buyer and in every market. Some markets rely heavily on open houses, where buyers can see the home on their own. Others require private appointments or the use of a lock box to see homes. If the agent prefers that you leverage open houses as much as possible, but you desire a little more handholding, she may not be the agent for you.

How do you search for properties, and what’s the best way to collaborate or communicate?

Buyers don’t rely only on their agent to find properties anymore. What’s more, many agents encourage buyers to search online independently. Agents leverage their local multiple listing service (MLS), and will send buyers emails and alerts from there.

Good collaboration makes for a seamless process, so ask the agent how they collaborate with their buyers for searches. Finally, ask if they’re a phone, text or email kind of person. Identify an agent who works well with your own communication style.

Search real estate agents now to get started.

04/22/2015

Should You Gamble on a Distressed Sale?

Foreclosures, short sales and REOs could get you a great deal … or they could be a disaster. Understand the risks involved before you make a move.

If you are in the market to buy a home, expect to see distressed sales: foreclosures, short sales and Real Estate Owned sales (REOs). Many buyers associate distressed sales with “deals,” causing their eyes to light up. More risk-averse buyers hear “distressed” and steer clear.

All distressed sales aren’t created equal, and each type should be approached differently. Before you set out in search of your next home, know the differences between them and what exactly they mean.

Short sales

Short sales are listings where the current market value of the home is lower than what the homeowner owes to the bank. The homeowner is the seller, and they have a good deal of control over the home sale.

It’s important to know that the seller’s short sale position could be no fault of their own. A job transfer, divorce or growing family could mean a move is necessary, but unfortunately their home’s value took a hit since they purchased the property.

The risk

Although they have control over the sale, the seller needs the bank’s permission to take less than what is owed. This is where short sales get complicated.

Banks can be slow in responding. So a buyer may make an offer, and the seller accepts and even signs a contract, but it could take months for the bank to respond. And it could do so with conditions like asking the seller to bring money to the table, or countering on price.

It’s this uncertainty of timing that scares some buyers off, because most want to be in their new home by a certain time. Additionally, some buyers get emotionally attached to a home, only to be let down if the bank rejects their offer, or the seller and the bank can’t come to terms.

The upside

If time is on your side and you can refrain from getting too attached to a home, you could get a good deal — sometimes up to 10 percent below market value. The longer the process goes on, the better the price, because the market, in some cases, is improving as the bank works through its processes.

Also, short sale sellers tend to price their listings below market value because they know that many buyers won’t want to wait around or deal with the uncertainty of the bank’s decision. So, the price suffers, and the patient buyer wins.

Foreclosure sales

Buying a home through a foreclosure sale should be reserved for only the savviest of real estate investors. Here’s how it works: If a homeowner doesn’t make their mortgage payments over time, the bank initiates foreclosure proceedings. After providing enough notice to the homeowner, the bank will sell the home to the highest bidder on the courthouse steps, auction style. If the loan amount is much lower than the market value of the home, you can expect to see bidders there. If the mortgage amount is more than the market value and nobody purchases the home, the bank is forced to take the home back and become the new owner.

The risk

There is no going back to the bank for credits or asking for a refund if there are problems. And bidders must show up with cashier’s checks in hand, because foreclosure sales are cash-only sales.

Also, since these homes are not listed for sale on the open market, chances are most bidders won’t ever have the opportunity to step inside to inspect the property. Foreclosures are sold absolutely “as is.”

Finally, there could be additional liens on the title, tenants in place, or any number of red flags, all of which make the purchase riskier because they become the problem of the new owner.

The upside

Generally, foreclosure sales will trade for at least 25 percent below the market value, and sometimes more, simply because most home buyers can’t show up with cash, won’t buy a home as is, and don’t have the experience or knowledge to take on such risk. Typical foreclosure buyers will take on the risk and do what is necessary to make the home marketable for sale or rent.

Real estate owned (REO) sales

If nobody shows up to purchase a home at the foreclosure sale, the bank takes it back, and the property becomes “Real Estate Owned” or REO.

Banks don’t want to be in the business of owning real estate. So, once they take the property back, they want to get it listed and sold as quickly as possible. You will likely see bank-owned homes for sale through online listings and your agent, just like other listings or sellers, except that they will be marked as REO and the seller isn’t a person.

The risk

Like foreclosure sales, there are few to no disclosures, and the home is sold as is. With an REO, you can actually go inside the home, look around and see it for yourself. They may even have open houses. You can have the property inspected and learn as much as you can. But since there isn’t a homeowner there to disclose what they know, it is still a bit of a risk.

The upside

REOs are generally listed at 15 to 20 percent below market value. (Of course, this varies by region and bank.) And REOs often need improvements, both cosmetic and structural, so an REO sale likely has the added value of a fixer upper. An REO could be listed at even 30 percent below the true potential value of the home, cleaned up and habitable.

It is important to understand that few banks are negotiable on price today. They know that the real estate market has improved, and will hold out for top dollar. Also, it is all a numbers game to the bank, so don’t expect letters to the “seller” to get you anywhere.

If you are entering the market for the first time, plan on seeing distressed sales in your search. Have a talk early on with your agent about the type of risk associated, and whether or not you would be a good candidate for one.

Don’t assume that all distressed sales are nightmares — or that they have “deal” written all over them. Each opportunity should be highly scrutinized, and you should always have a qualified real estate agent on your side.

03/23/2015

How Credit History Affects Home Insurance Premiums

A good credit history can save you money in lots of ways. Here’s one that might surprise you.

Want to know a (mostly) secret way to lower your home insurance premiums? One that could also reduce your mortgage, and even affect how much you pay for your car and car insurance?

It’s really not a secret, nor is it magic. It’s something anyone can do: maintaining a good credit score.

Your credit history affects more than your credit

You likely know and understand how your credit history figures into the decision when you apply for a credit card or try to open an account at a clothing or furniture store. The credit card company or store wants to make sure you have a history of paying your bills on time.

And you probably know car dealers run your credit when you want to buy a car. What you might not know is that your credit history plays into the interest rate you’re offered — which affects the total payback on your loan.

The same applies to your home loan. Your credit will affect the interest rate for your mortgage, and the difference in that interest rate over a 30-year loan period can add up to tens of thousands of dollars.

Insurance companies have a different reason for examining your credit report. They don’t look at it to calculate your risk of paying your premium — you always pay in advance of coverage anyway. What they do use your score for is to determine your risk of filing a claim.

Yes, that’s right. Insurance companies have, since the early 1990s, used your credit reports to predict the possibility that homeowners will have a fire, suffer a break-in, have a tree fall on the roof, or be the victim of some other covered peril. They do the same for auto insurance policyholders.

Only three states — California, Hawaii and Massachusetts — ban the use of credit scores in setting insurance premiums.

What’s the correlation?

Insurance companies started using credit histories to determine premiums because studies have shown that those with higher credit scores file fewer claims. Insurance companies believed that using the credit-based scores would help get more accurate and fair rates for policyholders — in fact, the industry says it actually results in lower premiums for most policyholders.

However, many consumer groups criticize the practice because they believe it penalizes those that have previously run into medical emergencies and financial difficulties, and unfavorably affects low-income and minority customers.

How much does a credit score affect premiums? A study by the Consumer Federation of America found that one large provider charged poor-credit customers about 127 percent more than policyholders with the best credit scores.

What can you do?

There’s no quick fix for a bad credit score. It takes time and discipline to pay bills down while avoiding new debt. But given the potential for saving on your mortgage and your insurance premiums — as well as on car and other large purchases — it’s worth the effort.

One step you can take immediately is to check your credit report and correct errors that could reflect badly on your score.

Take charge of your finances by building a good credit history and improving your credit score. You can save a bundle — now and in the future.

03/18/2015

Tax Benefits of Homeownership

If you own a home, or sold one in the previous year, you may be entitled to tax breaks.

Owning real estate can make tax season more complex, but many homeowners receive considerable benefits — especially if they sold a home or relocated for a job in the previous year. Here’s a look at three ways homeownership can pay off at tax time.

Mortgage interest

When you purchase a home, you will likely get a mortgage. Your monthly mortgage payment is made up of both principal (paying money to pay down the loan) and interest (what the lender charges for supplying the loan). As a way to incentivize homeownership, the federal government provides a tax benefit when it comes to the interest portion of your mortgage payment.

A homeowner can write off, dollar for dollar, the interest portion of their mortgage payment. Say, for example, a homeowner’s annual salary is $100,000. Their mortgage payment is $1,200 per month, and the interest portion of that payment is $1,000. At the end of the year, they have a $12,000 tax write-off. In essence, their taxable income is reduced to $88,000.

Capital gains

Homeowners also get a tax break when they sell their home. If you purchase your home for $200,000 and sell it for $400,000, you have a $200,000 gain — that’s income.

If you have an income by way of a job, a contract position or the sale of stock or mutual funds, you pay income tax on that gain. With homeownership, it’s different. If you are single and lived in the home for at least two of the past five years, you do not have to pay any income tax on that $200,000 gain — in fact, you don’t have to pay on gain up to $250,000. Married couples filing tax returns jointly and following the same owner occupancy guidelines are exempt up to $500,000. Where else can you generate income without paying taxes on it?

Tax credits for moving

If you purchase a home in one state and sell one in another, you should check with a CPA in both states. There may be benefits realized in one state but not the other, such as tax credits for moving expenses, if the move is a part of a job transfer. And, for the year you are between states, you will likely need to file a return in each state. It’s always smart to check with a CPA before a real estate transaction.