I’ve learned that there are two topics that my readers love and cannot get enough – real estate and pizza. Here’s a Q/A with local realtors about the Hudson housing market. Pizza, another time.
Thank you to Ryan Wexler of Coldwell Banker Advisor Realty, Kylah Campeta of Nicole Vidor Real Estate, and Dan Mahar of Mahar Real Estate.
Trixie’s List: As 2024 winds down, what do you think are some of the significant trends you’ve seen over the past year? How is 2024 different from 2023 and earlier?
Ryan Wexler, Coldwell Banker Advisor Realty: Due to a lack of inventory and higher interest rates, I have noticed a softer market. However, homes in the $200,000-$500,000 price range or more expensive homes in great locations are in many cases still selling quickly with multiple offers.
Kylah Campeta ATC: The rush of the pandemic has seemed to have finally slowed down. There is not as much inventory and what is available is not moving as quickly.
Dan Mahar, Principal Broker, Mahar Real Estate: The most frequent question I was asked this year was ‘is the election affecting the real estate market?’ The answer is yes but also EVERYTHING affects the market. The time to buy is when you see the house you can’t live without. 2023 and 2024 were about interest rates and who is going to win the election. The market is still very strong. Inventory is not an issue. Pick a street, there’s a for sale sign on it. That trend is going to continue.
Trixie’s List: What trends do you foresee in 2025?
Ryan Wexler, Coldwell Banker Advisor Realty: Increased real estate activity with the possibility of lower interest rates.
Dan Mahar, Principal Broker, Mahar Real Estate Rates leveling off and activity staying the same. Since opening Mahar Real Estate, we haven’t had a break! It’s really a tremendous market locally.
Trixie’s List: What do buyers want? A totally renovated home or a fixer-upper?
Ryan Wexler, Coldwell Banker Advisor Realty: Both, however this depends on the price range. I am working with buyers who are open minded to a fixer-upper as it is generally more affordable. Buyers with higher budgets typically want a turn key home from my experience.
Kylah Campeta ATC: Most buyers want a turn-key, totally renovated home. However, if you can find a reasonably priced home that needs minor renovations you should snag it!
Dan Mahar, Principal Broker, Mahar Real Estate: Buyers vary in their preferences. If it’s priced right and marketed properly buyers will come. Sometimes they don’t know they want a particular home until they set foot in it.
Trixie’s List: How should sellers prep their homes?
Ryan Wexler, Coldwell Banker Advisor Realty: This is dependent on the home, however all sellers should declutter their home and fix any potential issues if the issues are within their budget and timeframe. If vacant, staging is an excellent way to showcase a home (whether physical or virtual staging) and create a great first impression through the photos on the listing. Staging also gives buyers a sense of the size of rooms, potential furniture layout options and makes homes feel warmer and more inviting.
Kylah Campeta ATC: Sellers can make sure there are no major issues and make updates where appropriate if they have the budget to do so. This way when the home has an inspection there are no surprises
Dan Mahar, Principal Broker, Mahar Real Estate: If time permits, I recommend getting a home inspection and addressing any issues on the punch list to ensure the home is in its best possible condition. Professional photography, marketing and presentability follow. Make your house a home, be a unique destination. Inventory becomes a non-issue when you’re the only one of your kind.
Trixie’s List: If you are thinking about selling, should you consider putting your house on the market now, or wait until the new season and/or new interest rates?
Ryan Wexler, Coldwell Banker Advisor Realty: There is no time better than the present, especially considering the lack of inventory in our area.
Kylah Campeta ATC: Selling seasons are a myth. Yes, people shop more during certain times however if you have a great product at the right price you will sell. Especially now because inventory is low and the rates just decreased.
Dan Mahar, Principal Broker, Mahar Real Estate: Inventory isn’t really an issue at this point so the best time to sell is when you and your home are ready. One of the worst things a seller can do is list just because they feel they have to. External factors like interest rates will have less impact if the home is priced, marketed, and prepared properly. Successful agents focus on preparation, photography, marketing strategies, and timing of events like open houses. Winter is no longer a dead season; with milder weather, it’s a viable time to sell. Remove as many of the external factors impacting you as you can by preparing first. List when you are ready and when your agent has a marketing plan to reach buyers mapped out with you.
Trixie’s List: Many people who worked remotely during COVID returned to their jobs in NYC, at least some days per week. Has this trend affected the Hudson housing market?
Kylah Campeta ATC: People that can keep both locations will, the people that are back to full time work in NYC will probably sell their Hudson home (or already have.) The issue is, during the pandemic they may have paid a higher price and to get the return now could be difficult.
Dan Mahar, Principal Broker, Mahar Real Estate: The return to less full time and more part-time residents in Hudson has significantly impacted the local infrastructure, including utilities, roads, and businesses. This has created a new dynamic of supply and demand, leading to higher taxes, increased traffic on Warren Street, and a rise in tourism again. In terms of the housing market the demand is still there. Some of these people working remotely rented, some owned. We are seeing some of these houses come back on the market after short periods of ownership as landlords are fearing getting the rent they need to cover their ownership expenses.
Trixie’s List: What advice would you give to someone thinking of buying a house in Hudson?
Ryan Wexler, Coldwell Banker Advisor Realty: I highly recommend buyers representation. Do you homework, find a buyers agent who is proficient not only in the real estate market but also in home construction and negotiations. A good buyers agent will look after their clients best interest and help facilitate the transaction through closing.
Kylah Campeta ATC: Be aggressive and prepared, if you see something you love, jump on it right away. But, don’t be scared to look right outside of Hudson too, there are some beautiful properties!
Dan Mahar, Principal Broker, Mahar Real Estate: Call me! Still some great buys out there. If you’re looking to buy, Dan is your guy!
Trixie’s List: If not the City of Hudson proper, then where? Where else would you recommend buying or renting?
Kylah Campeta ATC: Depending on what you’re looking for, there are many areas within a twenty-five mile radius that are on the rise – Coxsackie, Philmont and Athens are just a few.
Dan Mahar, Principal Broker, Mahar Real Estate: If you’re looking for a getaway, consider heading east or north to Claverack or Craryville. Stay close to Route 23, Route 66, or Route 9H, where you’ll find hidden gem side streets with exceptional homes showcasing the beauty of Columbia County.