Peter Melito, Licensed Real Estate Salesperson

07/31/2023

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.

04/16/2023

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.

04/03/2023

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.

02/23/2023

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.

09/11/2022

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

09/10/2022

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

11/03/2021

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.

11/03/2021

"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."

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.

08/30/2021

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.

08/12/2021

“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.”

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....