How The Economy Has Changed New Windsor Real Estate

Posted in General Blog | 17/07/2012

New Windsor Real Estate

New Windsor Real Estate

There is no doubt that the worldwide economy has changed the housing market and New Windsor real estate is no exception.  In the past several years, we have seen changes and frankly, some of them are for the better.  Different style and types of homes are being built today that would not have been considered a decade ago.  Buyers are rarely lining up and bidding well above the asking price just to get into a home.  Instead, they are looking at all options and making sure that their new home works for them by providing them with some lower operating costs.

1.  Energy Efficient:  Builders understand that it is important to construct highly energy-efficient homes, particularly for those buyers who like to watch their budget carefully.  By providing the latest in insulation, solar panels, efficient windows and top heating and air conditioning systems, buyers can look to save on their utility bills more than ever before.

2.  Affordable:  Houses are more affordable than they have been in several years. Buyers are looking for smaller homes than a decade ago.  They don’t want nor require all of the bells and whistles that larger homes often have.  Forget about media rooms, mudrooms and bonus rooms.  Buyers see larger homes as lots of housekeeping, higher utility bills and maintenance burdens.  And while certainly there are buyers out there that want bigger homes, they are not in the high numbers they were before.

3.  Securing a Mortgage:  No longer are home loans being granted to anyone that applies.  Today, rules are stricter.  Buyers know that in order to purchases a home today, it is important to be pre-qualified so that homeowners will take their offer seriously.

4. Sellers need to do their homework.  Sellers of New Windsor real estate cannot inflate their home price.  They must look at comps, understand their neighborhood, prepare their New Windsor real estate for sale and perhaps wait a little longer for a sale than in previous years.  It’s a game of patience and hard work for a seller, unlike a decade ago when you could put a “For Sale” sign on your front yard and it could sell quickly.

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