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Hudson
Valley NY Real Estate Blog
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Tuesday, July 31, 2007
The Ulster County Fair has opened its' gates today bringing summer fun for people of all ages. The traditional summer attraction is taking place in New Paltz and is the 120th edition. It runs from July 31st to August 5th. The price of admission includes rides, entertainment, exhibits and fireworks.
The "Keep the Dream" NYS financing program has been created to help minimize homeowner payment shock. Posed with the threat of homeowners not being able to afford their fully indexed mortgage payment, SONYMA announced that they will offer the opportunity for New York State residents to refinance their mortgage into an affordable fixed 30 yr or 40 yr mortgage through the "Keep the Dream" program. A tidal wave of borrowers who purchased their homes with adjustable mortgages will be unable to afford their mortgage payment once the introductory teaser rate balloons to the fully indexed rate. SONYMA seeks to minimize the financial impact of these adjustable loans by providing distressed homeowners with an affordable refinancing solution. The purpose of the program is to help distressed homeowners to prevent foreclosure. Ulster County Real Estate Owners who purchased their home with a risky mortgage and who are undergoing financial hardship should become aware of this program, as it is a viable option to maintain mortgage payments close to their current level.
Friday, July 27, 2007
The Town of Lloyd (Highland) Supervisor hinted to a media outlet that Target is purchasing the Central Hudson property across from the new Lowes store. It would be a very logical spot for a Target and would be sure to bring in extra business and traffic. Overall, it would be a good measure to make shopping more convenient for those in the Highland/New Paltz area. New Paltz residents currently travel to either Poughkeepsie, Kingston or Newburgh for a similar store. If Target builds a store at the site, commercial expansion is sure to continue to spread on Rt. 299 in Highland. No official confirmation has been given by Target or Central Hudson about the sale of the property. Adding a big box store like Target usually has a positive affect on home values in the area.
Friday, July 13, 2007
A study by BizJournals.com ranked the Poughkeepsie metro area the 24th Best Market to Grow a Small Business. Poughkeepsie ranked above Los Angeles, San Francisco, Boston & Philadelphia, despite being the smallest metro area considered in the study. Areas with a thriving small business climate also tend to have a healthy real estate market. Small businesses contribute greatly to the overall local economy in the Hudson Valley and make the area a great place to live and buy real estate.
Tuesday, July 10, 2007
Home sales volume in Ulster County dipped in June of this year when compared to June of last year. 138 homes were sold in June, a 6% reduction from June '06. The median Ulster County home price was $263,250, a 2% decrease from June of last year.
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