The Doctor Loan for Saratoga home buyers

If you are a doctor in the Capital Region and looking to buy real estate, we have got a deal for you! One of our local banks is offering The Doctor Loan, a program for doctors looking to buy real estate in Saratoga Springs or anywhere in the

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9 Cowles Dr. Offers Waterfront Hudson River Living in Lake Luzerne

Imagine drinking your morning coffee with this view of the Hudson River every day!

Imagine drinking your morning coffee with this view of the Hudson River every day!

The Scott Varley Team is proud to present 9 Cowles Dr. in Lake Luzerne for sale for $695,000. This six-year old spacious ranch home has 160 feet of riverfront footage. This is a fabulous four-seasons home with a glorious year-round view.  Being relatively new means you get all the perks of modern living, including energy star building. The home is 3,179 square feet with three bedrooms, three bathrooms and large living areas. You have to see this storybook setting in person!

9 Cowles Dr. Lake Luzerne

Gorgeous six-year old home for sale with 160 feet of water front footage on the Hudson River in Lake Luzerne.

Huge modern kitchen!

Huge modern kitchen!

Enjoy four seasons of amazing views of the Hudson River from this light and bright sunroom.

Enjoy four seasons of amazing views of the Hudson River from this light and bright sunroom.

Some homes have the luxury of water being nearby, but 9 Cowles Dr. actually backs right up to the Hudson River and this stunning view!

Some homes have the luxury of water being nearby, but 9 Cowles Dr. actually backs right up to the Hudson River and this stunning view!

 

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3 Garnet Mine Offered For Sale at $875,000

Gorgeous craftsmanship!

Gorgeous craftsmanship!

If you’re looking for a gorgeous French Palatial Estate just minutes from Saratoga Springs in beautiful Moreau, NY, this is the one! This custom home is exquisite in every way and feels like a resort. From the exterior masonry detail to the pool with outdoor living and poolhouse… to the never-ending high-end finishes inside, this home leaves nothing to be desired. We aren’t showing you all the pictures, because you MUST see this home in person! Call us at 518-583-7268 to schedule a showing!

Open, yet warm and inviting with gorgeous finishes everywhere you turn!

Open, yet warm and inviting with gorgeous finishes everywhere you turn!

Beautiful living room is cozy and inviting

Beautiful living room is cozy and inviting

 

spacious, bright and open!

spacious, bright and open!

The beautiful master bedroom is complete with fireplace and a view of the pool!

The beautiful master bedroom is complete with fireplace and a view of the pool!

Every bathroom in this home is exquisite!

Every bathroom in this home is exquisite!

Another gorgeous bathroom!

Another gorgeous bathroom!

3 garnet mine basement bar

 

A basement most only dream of having!

A basement most only dream of having!

If the rest of the finished out basement wasn't enough, check out the amazing home theater!

If the rest of the finished out basement wasn’t enough, check out the amazing home theater!

This open kitchen has it all!

This open kitchen has it all!

3 Garnet Mine offers the ultimate in outdoor living!

3 Garnet Mine offers the ultimate in outdoor living!

Who doesn't want a three-car garage? Just another perk at 3 Garnet Mine in Moreau!

Who doesn’t want a three-car garage? Just another perk at 3 Garnet Mine in Moreau!

3 Garnet Mine back yard

3 Garnet Mine back yard

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It’s Cheaper to Own a Home in Saratoga County than to Rent

With the influx of relocations to Saratoga County going on now, many newcomers are faced with the question: “is it better to buy or rent in Saratoga County?” There are a few reasons people choose to rent vs. buy, and the reasons are valid, however, if you look at how much more it’s costing you, it’s worth considering buying right away!

At the time of this writing, there are 67 active 3-bedroom, 2-bathroom rental listings in all of Saratoga County. The average monthly rental price for these listings is $2,148. That’s astounding, right? Do you know how much house you could afford to mortgage for that amount? Depending on how much you put down on a purchase, you could easily buy a $350,000 home and have the same monthly payment (or less).

A recent study showed that it is 35% cheaper to buy than rent, but keeping extra money in your pocket from month to month isn’t the only reason to invest in home ownership. Did you know that the average American’s net worth also varies drastically between home owner and renter? The average American homeowner’s net worth is $174,500, compared to the average renter’s net worth of just $5,100.

This all may be enough to get you thinking, “okay, maybe I’ll buy eventually then.” But eventually is a word that is going to cost you more money. The interest rates are expected to start a steady incline in December. Look at the example below to see exactly how much the rising interest rate could impact you if you wait a year to buy:

Purchase Price    Interest Rate    Monthly Payment with P&I

$250,000                  4.22%                    $1225.46

$250,000                  5.3%                      $1388.26

Monthly Difference = $162.80

What could you do with an extra $162.80 per month? A lot. Not only that, but the amount of home you qualify to purchase will go down. Maybe you could afford a $250,000 house right now at the current interest rate, but if that same house is going to cost you an extra $162.80 per month, you don’t qualify. It’s something to seriously consider.

Meanwhile, renting isn’t getting any more affordable. There’s also a lack of rental property available in Saratoga County. The supply does not come close to meeting the demand with all the relocations coming in right now.

It just makes sense to buy right now. If you end up having to move again soon, you can always keep the home as an investment property and make positive cash flow right out of the shoots!

Call us today to discuss! We are here for all of your Saratoga County real estate needs.

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Why winter is a GREAT time to keep your home on the market in Saratoga County

Everyone asks us if they should wait until Spring to list their Saratoga home for sale. The best time of year to sell a home, whether in Saratoga County or anywhere around New York’s Greater Capital Region, has traditionally been believed to be in the warm months of Spring and Summer, but here are 10 great reasons to list your home and keep it listed during the Fall and Winter months.

should I wait until spring to sell my house

10 reasons winter is a good time to sell a home

1. People who look for a house in winter and during the holidays are serious buyers!

2. Serious buyers have fewer houses to choose from, so there’s less competition.

3. Houses show better when decorated for Fall, Winter and the Holidays.

4. Buyers have more time to look for a house during the holidays.

5. Many people want to buy before the end of the year for tax reasons.

6. Job transfers and people relocating for a job don’t wait until Spring to buy. They need a house NOW.

7. You can still restrict showings during the holidays during your personal family events.

8. You can sell now and specify a delayed closing or extended occupancy until a later date if you desire.

9. By selling now, you have an opportunity to buy  before everyone else and get the best deal.

10. You might have fewer showings overall, but the ones who DO look now are serious and motivated, so you might actually get a better price!

We have agents standing by in every region waiting to help you and get your home sold. Give us a call at 518-583-7268 to set up a listing appointment today!

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Monica DiSchiano joins the Scott Varley Team & Heads up Social Media

The Scott Varley team continues to grow and stay ahead of the curve in technology with the hiring of Monica DiSchiano as our director of social media. The importance of social media is not just for company branding but for expanding the platforms on which our clients’ listings will be seen and advertised.

We are a top real estate company in Saratoga County because of our people and our successful marketing campaigns. While we spend a great deal on brochures and print advertising, as well as our website and other real estate websites, we realize we can reach thousands more via Facebook,, Twitter, Instagram, Pinterest and other social media avenues. The more visible we are online, the more visible our listings are, and the more we can do for our clients!

Monica is also a licensed real estate salesperson who specializes in relocation and buyer representation. Monica’s husband works for GlobalFoundries and she has enjoyed helping countless GlobalFoundries employees find homes.

Be sure to follow us on Facebook, Twitter and Pinterest and see some of the amazing things we are doing! Look out for our contests and give-aways, too!

 

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Scott Varley Quoted on Capital Region Foreclosures

Scott Varley was quoted in an October 8 article in The Saratogian discussing the capital region foreclosure rates.   Read the full article.

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If HE Says It Is Time To Buy a Home, BUY A HOME!

John Paulson“If you don’t own a home, buy one. If you own one home, buy another one. And if you own two homes, buy a third and lend your relatives the money to buy one.”

– John Paulson 9/27/2010

WOW! That’s a powerful statement.

There is no question that John Paulson is a bull when it comes to residential real estate right now. Should we care what Mr. Paulson thinks? Should we listen to him? The answer to both questions is a resounding ‘YES’. Here are several reasons why.

Who is John Paulson?

Paulson is the person who made a fortune betting that the subprime mortgage mess would cause the the real estate market to collapse. He understands how the housing market works and knows when to buy and when to sell. What do others think of Paulson?

According to Forbes John Paulson is:

a multibillionaire hedge fund operator and the investment genius who made a killing going short subprime mortgages a few years ago.

According to the Wall Street Journal Paulson is:

a hedge fund tycoon who made his name, and a fortune, betting against subprime mortgages when no one else even knew what they were.

What did other financial players think of his statement?

The Wall Street Journal agrees with Paulson:

Ignore the critics. The odds have to be on his side…It isn’t just that home prices have fallen a long way. It’s also that, if you can get a mortgage, you are basically taking a reverse bet on the bond market. You could be a long-term borrower at fixed rates, instead of a long-term lender. Right now you can borrow for 30 years at around 4.3%. After the mortgage tax deduction, for some people the net effective interest rate is nearer to 3%. That’s going to prove an awesome deal if we see inflation again.

And Forbes said:

As this is the best time in 50 years to buy homes, Paulson advised his listeners to take 30 year mortgages to buy a home as “your debt and interest payments get locked in at record lows, while the price of your home will rise.”

Are others also saying now is the time to buy?

Just last week, we posted that there is a growing number of people saying that NOW is the time to buy, including:

  • The Wall Street Journal
  • Professor Karl Case, founder of the Case Shiller House Pricing Index
  • The wealthiest families in the country and
  • 70% of everyone else in America

Bottom Line

Thinking of buying a home? Are you taking advice from a friend or family member telling you that now is not the time? It may be time to listen to people who better understand the opportunities that exist in real estate today.

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The Scott Varley Group Offers Unique Opportunity in Luther Forest

MALTA, N.Y. – Scott Varley, of the Scott Varley Group-RealtyUSA in Saratoga Springs, NY, was recently selected as the sole realtor for Jenna’s Forest, a new residential development within Luther Forest in Malta, NY. Thomas J. Farone and Son, one of the largest and most respected builders in the Capital District, is the exclusive builder for Jenna’s Forest.

Located just a few miles south of Saratoga Springs, Malta is home to the greater Luther Forest and offers a vibrant economy. An up and coming hotspot for homebuyers near and far, the area is a short drive away from several popular upstate New York entertainment venues such as the Saratoga Race Track, Saratoga Lake, Lake George, and more; and is a short distance away from the home of GLOBALFOUNDRIES. [Read the entire release]

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YNN Interviews Scott About Condos

Scott recently had a chance to talk with YNN about the benefits of owning a condo. [View the Video]

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