Chris and Gina Buy Houses
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​I bought my first investment property 15 years ago. It sure has been a fascinating journey!  10 years ago, I met my wife Gina and she has been along for the ride ever since.  We started this blog to share our stories and what we have learned along the way as well as to learn and share from others.  Whether you are in the market to purchase your first home, are a lifelong homeowner, or a seasoned investor, this blog's mission is to provide you with valuable education, tips, and advice. We have experienced a lot, however we also want to learn from you and your insightful knowledge! We'd love to hear your familiarity as a homeowner/investor: includingwhat has worked and what hasn't!

STATE OF THE NATIONAL REAL ESTATE MARKET

5/2/2022

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Despite the COVID-19 pandemic, the real estate market continues to trend upward. According to analytics firm CoreLogic, in November, home prices were up 8.2% year over year. Interestingly, Idaho (15.7%), Maine (15.4%), and Indiana (13.6%) were the states with the highest increases. Plus, this past year saw record low interest rates, which is certainly a driving factor in the current hot real estate market. While this is great news for existing homeowners, it has posed some difficulties for lower income individuals to afford homes.
One major challenge facing the industry is inventory for would-be buyers is at a 12-month low. According to the National Association of Realtors (NAR), inventory nationwide is down to a 2.1 month supply. This is a 30% decrease in available homes for sale from the same time period last year. Most real estate professionals consider a six-month supply of homes a healthy balance between a buyer and seller market. This low supply, or low inventory, generally indicates a strong seller’s market. NAR also reported the median days on market in December 2020 was only 16 days, further indicating that it is a strong seller’s market.
Because the real estate market is very dynamic, whether you are thinking about selling or buying, it’s more important than ever to work with an agent who understands the local market. Often, homes are sold where the seller may have netted a higher amount or there are buyers who lose out on a great home because their agent may not understand these market forces. Find an agent with knowledge and experience locally who can understand your unique needs.

If you are looking to sell fast and save yourself time, work, and money, consider selling to us at Chris and Gina Buy Houses.  We can pay cash, we can close fast, and you don't have to make any costly upgrades or repairs.  Best of all we can close on your timeline.  If any of these sound good to you, call or message us TODAY!

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    Chris McMahon

    Chris was born and raised in Saratoga Springs, NY.  He has been a member of the community for over 40 years both as a resident and as a teacher.  He bought his first investment property in Troy, NY in 2003 and has continued to be in the business ever since.  Chris resides with his wife Gina in Gansevoort, NY where he continues to teach in the Saratoga Springs City Schools and pursue his passion in real estate.  He is a licensed real estate agent with eXp Realty. 

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  • Home
  • Blog/Vlog
  • Area's We Serve
    • Saratoga Springs NY
    • Albany NY
    • Clifton Park NY
    • Lake George NY
    • Greenfield NY
    • Greenwich NY
    • Gansevoort NY
    • Ballston Lake NY
    • Delmar NY
    • Rexford NY
    • Glenmont NY
    • Altamont NY
    • Slingerlands NY
    • East Greenbush NY
    • Latham NY
  • Rentals
  • For Sale
  • Contact
  • Pictures
  • Videos