Buyer's Agency frowned upon in New York State?

[ss58yy]

Originally Posted by joeymarine

They do exist in NY....but they haven't really gotten to Upstate-upstate NY yet....they are just coming across the border from Jersey into Southern Orange and Rockland though.

It looks Exclusive Buyer's Agencies reached Sullivan county a while back, and I see there's now one in Rhinebeck that covers Dutchess, Ulster, and Columbia counties. I've seen at least one other print ad for a buyer's agent covering Ulster county, but so far nothing for Greene, Schoharie, or Delaware counties.

I suppose any buyer's agent would be fine -- I'd just like to avoid working exclusively with seller's subagents, since I'm not an old hand at homebuying.

[ss58yy]

Originally Posted by joeymarine

... Just something to think about up there....real estate is a little weird. The avg DOM (days on market) up in that area is around 365....no, that wasn't a typo....yes one year.

That's nothing to be scared of as a buyer though....it may mean more flexibility in the price!!!
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That's interesting -- I've read that it's still a seller's market up there, and that prices are still rising (but not as fast as before).

[joeymarine]

Originally Posted by ss58yy

That's interesting -- I've read that it's still a seller's market up there, and that prices are still rising (but not as fast as before).

It depends on who's saying it and their motives....You can ask me how the market is and I can tell you several different ways and to you it will mean several different things and either way, I am not lying because I am stating fact. It really just depends on the Data you look at.

For instance....
Orange County Real estate....Homes are sitting on the market, nothing is moving unless it's priced dead on or even a little underpriced. You can see this in the amount of homes on the market, expirations every day on the MLS has doubled over the last 2 years while Title Transfers have cut in half. Avg days on the market has gone up by well over a month in the last year.
-all of this states that the market has turned not so good for the seller right?

However if you look at the median sales price in Orange County, it's gone up from 300K to 311K in 1 year....it's not the 20-30% we saw several years back...but hey, it's appreciation right, and a lot better than depreciation might I add!

So like I said, it just depends on who you talk to and what their actual motives are.

The avg DOM was for Sullivan btw, (not sure if I mentioned that before) but I couldn't imagine North of there being any better, but I could be wrong.

[JoshNHR]

The company I work for is an exclusive buyer's agency but unfortunately I only cover southern Ulster and Orange County.

I don't disagree with Joey's assessment of the Orange County market but I think you're omitting a few key points about the current market. New townhouse communities are still selling at a brisk pace with price increases and all while the luxury homes ($550K+) are sitting on the market a while. Certain communities, even in the venerable Monroe area, have seen significant price declines. For example, a traceback of the tax records on a number of properties in Meadow Glen will show that some homes up for sale are being offered at an asking price which is lower than what they purchased the home for just a couple years back.

That being said it's a fantastic time for buyers to move in and take advantage of the tremendous deals at the loss of home sellers who need to move. At the very least my buyers couldn't be happier!

[ss58yy]

Originally Posted by JoshNHR

The company I work for is an exclusive buyer's agency but unfortunately I only cover southern Ulster and Orange County.

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That being said it's a fantastic time for buyers to move in and take advantage of the tremendous deals at the loss of home sellers who need to move. At the very least my buyers couldn't be happier!

In the last few days I've found a couple of more agents who advertise that they represent buyers and also cover the area of interest in the central Catskills.

I'm glad to hear that it's a fantastic time for buyers, but I wonder if the 2nd home market really a buyer's market, or is it just kind of "neutral" now. I assume most 2nd home buyers pay cash (which is what I plan to do), and aren't affected by the current mortgage situation.