Dirt Road Realty News > Rhinebeck Real Estate Rhinebeck Homes Sold in December 2011

Rhinebeck Real Estate Rhinebeck Homes Sold in December 2011

The Source for Rhinebeck real estate homes sold in Rhinebeck NY is the Mid–Hudson Multiple Listing Service Inc (MHMLS). These figures for single family detached homes sold in Rhinebeck NY do not represent the total Rhinebeck real estate sales in Dutchess County. These figures for homes sold in Rhinebeck NY reflect the sales activity of the MHMLS, which comprises the largest sales volume sampling. .

I would like to briefly explain the MHMLS.

The real estate brokers in the MHMLS have agreed to share their listings– information on properties features. All the homes on the MHMLS are pooled together in one listing.

What does that mean to the home buyer? A Buyer’s agency as Dirt Road Realty, a real estate agency committed exclusively to the home buyer, the home buyer can search for their home in one Rhinebeck Real Estate listing –in one place not searching multiple agencies for the same home.

9 Rhinebeck Homes Sold
During the Month of December 2011

A familiar and important Take Home Message – Homes Sold in Rhinebeck NY on the Rhinebeck real estate market the longest homes on the market tend to have the greatest percentage price reduction. The home buyer should ask the real estate broker how long the home has been on the Rhinebeck real estate market– the total time. Working with Dirt Road Realty a real estate agency committed exclusively to the home buyer, the home buyer will appreciate its benefits.

3 of the 9 homes that sold in Rhinebeck NY in the month of December 2011 were listed in the Rhinebeck real estate market in 2009 and 2010. These 3 homes which sold in Rhinebeck NY had the higher percentage of price reductions 37%,39% and 40%. Speaking directly to the premise – Homes Sold in Rhinebeck NY on the Rhinebeck real estate market the longest homes on the market tend to have the greatest percentage price reduction.

However a new caveat has been brought into the Rhinebeck real estate market, a calculated plan for pricing –list a home with a "lets see what price we can get price" with the plan to reduce the price 10% each month until the home gets sold. This appears to be the scenario for one home sold in Rhinebeck NY listed in July 2011 in the Rhinebeck real estate market with a price reduction of 41% when it sold in December 2011.

Homes sold in Rhinebeck during the month of December continue to tell the story that is homes above $500,000 are being hard hit in this Rhinebeck real estate market. Dana Olick of CNBC wrote
Higher-End Housing Hits a Wall

Lastly a repeat of November,
Because when I say "high–end" I'm not talking multi–million dollar homes, I'm talking about homes over $500,000, which are move–up homes. If there's no move–up market, then there can be no real recovery because all the action is taking place in the distressed market, which then artificially pulls down the national home price numbers and scares the rest of the market away.

No move–up market also means those in higher priced homes who need to sell can't, and that could push up delinquencies on jumbo and even higher–priced conforming loans. Think of all the baby boomers who need to get out of big suburban family homes they can no longer afford. Suffice it to say, we need all segments of the housing market pushing forward in order to get the full market back to health.

The sale price for all 9 homes sold in Rhinebeck NY in the month of December 2011 were below $500,000 where these higher priced homes in the Rhinebeck real estate market continue to be the hardest hit.

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