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Is it Smart to Refinance?

Your home mortgage is an important investment in your future, and a mortgage refinance can be a smart move to help you manage your investments when used under the right circumstances. Here are some things to consider about refinancing your mortgage.  
Simply put, when you refinance your mortgage, you are taking out a new loan to pay off your original mortgage, so the first question to ask yourself may be is there a better product available to you than what you started with?  

Refinancing allows you to borrow against the equity you have built up in your home and take out cash you can use to pay off other debt, make home improvements, or invest in your retirement. For example, let’s say you have $70,000 of equity in your home, but still owe $175,000 on your mortgage. You may take out a new mortgage for $200,000 that is used to pay off the first mortgage, and then pays you $25,000 in cash. If you have made regular payments on your initial mortgage for at least five years, you probably have enough equity built up to take a cash-out mortgage.  

Another reason to refinance is to reduce your monthly payment to give you more flexibility in your monthly budget. When you refinance, you are basically starting over on your 30-year commitment, but, if you are not taking cash out, your new mortgage amount will be lower, so your payments decrease.  

If you originally took out a 15-year mortgage, changing to a 30-year term will lower your monthly payment considerably.  

You may also choose the opposite and switch from a 30-year loan to a 15-year term. Your monthly payments will likely increase, but you will pay your loan off earlier and pay less interest.  

Another reason people refinance is to change from an adjustable-rate mortgage (ARM) to a fixed-rate. This eliminates fluctuations in your monthly mortgage payment and may help you take advantage of favorable rates.  

Before you decide to refinance, do some homework. You should perform an audit of your monthly budget, assess your short and long-term financial goals, check your credit score, watch interest rate fluctuations, and consider the costs involved in refinancing ads there will be closing costs on your new loan.

A Must-Read Guide On How To Sell Your House


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Veterans Loans: The Best Way Home!

On Veterans Day we honor the men and women who have bravely served for our country.  We should always remember and be thankful for all the sacrifices that these brave patriots have endured.
Thank you all for your service and for protecting our great country!

To honor our service men and women, the Veterans Administration offers some excellent benefits for Veterans including programs to help you purchase a home.
The best features about Veteran Loans are the savings!
  •  100% Financing - so you don't need any money for down payment
  • No PMI (private mortgage insurance) keeps your monthly payments lower

The following 2 videos explain how to get started with the process, click on both links to view these brief videos.

Using your VA Home Loan Benefit: Where to Start

Using your VA Home Loan Benefit: Working with a Realtor and Lender

According to, "more than 20 million American veterans have benefited from the Veterans Affairs Guaranteed Home Loan program over the past 70 years, but millions of former and active duty service members are not aware that they can take advantage of the homebuying program."

For more information on buying a home, check out the links below:
Veterans Administration
Understanding the Process

        5 top non fin

Stage & Sell


October Market Report in Dutchess County


Home Prices in Dutchess County for October 2019

 Real estate market data for Dutchess County, NY provided by Mid Hudson Multiple Listing Service


October Dutchess County, NY  - Single Family Homes  

As of the beginning of October there were a total of 1287 single family detached homes on the market which was down around 3% from October 2018. There were 2032 closed sales and 225 purchase offers reported on the multiple listing service. The average days on market is at 93 (year to date) and the average sale price in all of Dutchess County is $339,944 (year to date) this is up 1.6% from last year.

Single family attached housing shows 173 units available for sale which is up over 24%, there are 444 closed units year to date and 44 purchase offers that have been reported. The average days on market for attached housing is 78 days and the average selling price is at $221,419 which is up 5.9% from last year.

Interests rates remain are very low, well under 4% for a 30-year conventional mortgage.  Housing inventory continues to be a challenged in certain price points, mostly under $400,000.  As we move through the holiday season, the market has cooled off but only to pick up again as we enter into 2020.  We are all hoping to to see fresh inventory hit the market and buyers hitting the market again. 

oct 2019 stats

If you are interested in homes current on the market in Dutchess County, you can run searches by clicking on the link.  From there you can run as many searches as you would like, save your favorite homes, save search criteria and more. 

If you would like to receive regular market updates for a specific area, click on View Market Stats and fill out your email address or log through Facebook, whichever you prefer. 

Fall Home Selling Tips


front door pumpkin
Although we all know that Spring is the best time to sell a home and there are always many more buyers in the market springtime, the Fall real estate market can be very rewarding to those sellers willing to put in the extra work.  Here are a few tips to get motivated sellers moving in the right direction!

One of the most important factors is aggressive pricing.  Make sure that your home is priced strategically so that it will bring you the best price in the quickest time frame.  This means looking very closely at your competition with an objective eye.  Ask yourself how well your home truly stacks up next to the other homes in the area.  Consider comparable home pricing, size of home, number of bedrooms and baths, property size and character, and other standout amenities that will attract potential buyers.  Also, when contemplating your strategic pricing make sure you take note of any updates which have been recently done.  It is very easy for a buyer to fall in love with a home that has been updated with beautiful, modern features such as kitchens and bathrooms.  Keep in mind that this is good advice throughout the year, but especially in the Fall market.  You must set your home apart from all the other homes on the market and price is the best way to do this!

Curb appeal is paramount all year long and the Fall is no exception!  It is critical to keep your yard tidy.  Be sure to rake up the leaves and clean away any of the dead plants that can be trimmed back.  There are beautiful, affordable decorations that can be tastefully placed to add color, warmth and charm.  The key word here is "tastefully" -- please don't go overboard with decorations.

Your home's interior appeal should be no different, the appeal should carry through from the front door to each room.  Make sure that your home is clean and organized (yes, even the closets and basement).  The subtle use of Fall decor in key areas will create an inviting, homey feeling that can accentuate your home in a very favorable way.  Again, you don't want to overuse decorations or it will absolutely defeat what you are trying to achieve.  

For more tips for selling your home in the Fall market, click on this link.

First Steps in Home Buying Dutchess County Real Estate


Thinking of buying a home? There are always lots of questions.  Here's a short video (click on photo below) to get you started!

first steps
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