Peter Melito, Licensed Real Estate Salesperson

Extremely low inventory, higher rates, and higher homes prices continue to make this a challenging market for buyers in the Capital Region. I have an active pool of buyers if you are ready to sell.

Thinking about selling your house? If you’ve been waiting for the right time, it could be now while the supply of homes for sale is so low.

Your house will get more attention from buyers looking for a home this spring when there is less inventory on the market. Properly-priced, move-in ready homes are still receiving multiple offers and selling for over the asking price throughout the Capital Region. A quick search of homes in the Niskayuna School District finds 13 active existing single family home while in North Colonie Schools there are only 19. In the the South Colonie School District there are only 7 existing single family homes for sale!

The National Association of Realtors (NAR) confirms housing inventory is low nationwide by looking at the months’ supply of homes on the market. In a balanced market, about a six-month supply is needed. Anything lower is a sellers’ market. According to a recent NAR report :

“Total housing inventory registered at the end of February was 980,000 units, identical to January and up 15.3% from one year ago (850,000). Unsold inventory sits at a 2.6-month supply at the current sales pace, down 10.3% from January but up from 1.7 months in February 2022.”

The bottom line is if you've been thinking about selling, this spring might just be the time to do it. There is limited competition in many of the area's cities and town due the lack of inventory.

Spring has arrived, and that means more and more people are getting their homes ready to sell. But with recent shifts in real estate, this year’s spring housing market will be different from the frenzy of the past several years. To sell your house quickly, without hassles, and for the most money, be sure to follow these four simple tips:

1. Make Sure You Give Buyers Access

One of the biggest mistakes you can make as a seller is limiting the days and times when buyers have access to view your home. In any market, if you want to maximize the sale of your house, you can’t limit potential buyers’ access to view it. If it’s not accessible, it could cost you by sitting on the market longer and ultimately selling for a lower price.

2. Make Your Home Look as Good as Possible on the Inside

For anything to sell, especially your home, it must look inviting. Your real estate agent can give you expert advice on ideal staging for your home. Even updating a room with fresh paint, steam cleaning carpets, or removing clutter from the garage can make a big impact.

3. First Impressions Matter

The old saying “you never get a second chance to make a first impression” matters when selling your house. Often, the first impression a buyer gets is what they see as they walk up to the front door. Putting in the work in on the exterior of your home is just as important as what you stage inside. Freshen up your landscaping to improve your home’s curb appeal so you can make an impact with potential buyers.

4. Price It Right

This is probably the most important aspect of selling your home in today’s real estate market. If a house is priced competitively, it’s going to sell. Period. To do this, you have to know what’s happening with home prices in your area and understand the factors that are affecting the market right now. That’s why it’s best to work with a trusted real estate professional who can ensure you list your house at the right price.

Everyone selling their home wants three things: to sell it for the most money they can, to do it in a certain amount of time, and to do all of that with the fewest hassles. To accomplish these goals, let’s connect so you can understand the steps you need to take to sell your home this spring.

Are you already thinking about how to save on next year’s tax bill? Real estate investing offers numerous tax benefits that can help you save money on your taxes. Some of the most common tax benefits for investors include:

Mortgage Interest Deduction: Real estate investors can deduct the interest paid on their mortgage loans from their taxable income, reducing their overall tax liability.

Property Tax Deduction: Real estate investors can also deduct property taxes paid on their investment properties.

Depreciation: Investors can take advantage of depreciation deductions on their investment properties, which allows them to deduct a portion of the property's value over time as it depreciates in value.

1031 Exchange: Real estate investors can defer paying capital gains taxes by using a 1031 exchange, which allows them to sell a property and reinvest the proceeds into another property without recognizing capital gains taxes.

Deduction for Property Expenses: Investors can deduct expenses related to managing and maintaining their investment properties, such as repairs, maintenance, and property management fees.

If you're a real estate investor or considering investing in real estate, make sure you're taking advantage of all the tax benefits available to you. Consult with your tax professional and let’s connect to discuss how to build real wealth through real estate investing.

What's the avatar of a first time home buyer in the United States?

Open Sunday 12-2! Well maintained and updated Cape Cod in the Mohonasen School District. This charming home boasts three ample sized bedrooms and two full baths. Updates include a new second floor bathroom, updated kitchen, new windows, new front door, resurfaced front stairs and new Trex railings, new carpeting on stairs, and a first floor bedroom remodel with crown moulding. The second floor features a nook which makes a great WFH space. Hardwood floors in the living room, dining room, and first floor bedroom. Tons of storage in the basement. Enjoy summer cookouts on your oversized deck. Your dog will love playing in the large fully fenced back yard. Located in desirable and quiet neighborhood that is conveniently located near shopping, restaurants, golf, and major highways

The appraisal and inspection are important steps in the homebuying process. When you buy, avoid the temptation to waive either one. They provide you with information about the home’s value and condition to protect your investment. DM me so we can discuss how you can be prepared for both when the time comes.

"With buyers eager to purchase but so few homes available, sellers who list their houses this fall have a tremendous advantage - also known as leverage - when negotiating with buyers."

Sellers Have Incredible Leverage in Today’s Market With mortgage rates climbing above 3% for the first time in months, serious buyers are more motivated than ever to find a home before the end of the year.

172 Red Tail Rige Cobleskill, NY. Are you ready for a shovel free-winter? Brand new, maintenance free townhouse with amazing views. 2BR, 1.5 BA townhouse with 2 car heated garage on 2.47 acres. Enjoy sweeping views of the changing foliage in the Schoharie Valley from your covered front porch or side deck. The generous, welcoming open floor plan is great for entertaining. Spacious kitchen with many cabinets, tons of counter space, and a large pantry. Recessed Lighting. Central A/C, gas fireplace, and high efficiency furnace. Pet friendly community with an enclosed dog park. Children's playground and new club house. Tranquil and peaceful environment with an easy commute to Albany or Schenectady.

“The last thing you as a homeowner want to do is center your home design around a passing fad – even worse, one thats design quality won’t last a good while.”

The Best Use of Time (and Money) When It Comes to Renovations In the current sellers’ market, many homeowners wonder what, if anything, needs to be remodeled before they list their house. That’s where a trusted real estate professional comes in. They can help you think through today’s market conditions and how they impact what you should – and shouldn....

With home prices continuing to deliver double-digit increases, some are concerned we’re in a housing bubble like the one in 2006. However, a closer look at the market data indicates this is nothing like 2006 for three major reasons.

3 Charts That Show This Isn’t a Housing Bubble

More sellers are beginning to enter the housing market. More homes for sale means more choices, less competition, and fewer bidding wars for buyers. If you’ve been holding out hope in the search for your dream home, maybe this is your chance.

Are you noticing more for sale signs in your neighborhood?

As the economy rebounds and life is returning to normal, the real estate market is expected to have an unusually strong summer season.

Here’s how this summer is stacking up against the norm and what it means for you.

Why This Isn’t Your Typical Summer Housing Market In real estate, it’s normal to see ebbs and flows in the market. Typically, the summer months are slower-paced than the traditionally busy spring. But this isn’t a typical summer. As the economy rebounds and life is returning to normal, the real estate market is expected to have an unusually str...

Even in today’s red-hot sellers’ market, it’s important to price your house right. While it may be tempting to price your house on the high side to capitalize on this trend, doing so could limit your house’s potential.

Selling Your House? Make Sure You Price It Right. There’s no denying we’re in a sellers’ market. With low inventory and high buyer demand, homes today are selling above the asking price at a record rate. According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR):

“Home prices are expected to continue appreciating over the next five years, and the associated equity gains are the quickest way homeowners can build household wealth. “

If you’re a current homeowner who’s ready to take advantage of your built-up equity, let’s connect today to discuss your options.

A Look at Home Price Appreciation Through 2025 Home prices have increased significantly over the last year, which in turn has grown the net worth of homeowners. Appreciation and home equity are directly linked – as the value of a home increases, so does a homeowner’s equity. And with these recent gains, homeowners are witnessing their financ...

🏡New listing - 6 Ellen Lane Glenville. $150,000 This 3 BR, 1 BR ranch awaits your finishing touches. New Kitchen, hardwood floors, Sun room, and big back yard.

New York State Emergency Rental Assistance Program applications now open - Albany Business Review The New York State Emergency Rental Assistance Program was designed to help both tenants and small landlords who have not been able to pay rents or mortgages over the past 15 months.

Parts of Downtown Troy transformed into 1880s for series “The Gilded Age.”

If you’re a homeowner in a position to sell your house, don’t miss out on the opportunities you have in today’s market. Houses are selling so quickly and competitively that homeowners have unprecedented leverage to sell with the best terms for their needs. DM me to learn more about how selling today is a win.

🛠🪚Looking for a house that needs some TLC? Check out 2541 Hamburg St in Rotterdam. This 3 BR, 1BA home has been owned by the same family for the past 50+ years. It’s ready for its next owner.

Trifecta week of closings. There really has never been a better time to sell.

Today’s housing market is healthy, and rising prices are driven by real buyer demand. Let’s connect to talk about the best ways to navigate such an energetic market.