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Rhinebeck Real Estate

Dirt Road Realty reports the Rhinebeck real estate in terms including the Rhinebeck School District not the town or village of Rhinebeck alone. We report Rhinebeck real estate in this manner, because many of our clients choose location based upon school district. From January 2009 to July of 2009, there were 25 homes sold in the Rhinebeck real estate market. Of the 25 homes sold in the Rhinebeck real estate market 21(84%) homes sold were under $750,000. 4(16%) homes sold in the Rhinebeck real estate market were $750,000 or more.The data source for our analysis of the Rhinebeck real estate is the Mid-Hudson Multiple Listing Service Inc (MHMLS). These figures do not represent the total real estate sales in Dutchess County. However, they do reflect the sales activity of the MHMLS, which comprises the largest sales volume sampling. The jumbo loan appears to be almost non existent in Dutchess County. This obviously has a negative impact on the Rhinebeck real estate higher end homes. Dirt Road Realty News has been reporting this year the large disparity between homes sold,listed, and price changes of those homes below $500,000 and those above $500,000. Dirt Road Realty News in June asked if this was a local mortgage issue.

High-End Homes Frozen Out of Budding Housing Rebound By NICK TIMIRAOS and JAMES R. HAGERTY. The divide between the mass market and the high-end -- generally defined as homes that cost above $750,000 -- partly reflects the effects of Washington's housing-rescue plan, which is producing winners and losers. Most banks that offer jumbo mortgages are generally requiring down payments of 20% to 30% or more, knocking out potential buyers who don't have much equity in their homes and have seen retirement savings fall. To be sure, the affluent housing market is substantially smaller than the mass market. Sales of existing homes priced over $750,000 accounted for 2.3% of all sales in the first quarter of this year, compared to 4.4% of the housing market in 2007, according to the National Association of Realtors. The $8,000 tax credit for first-time homeowners phases out for single buyers whose incomes exceed $75,000, or married couples earning more than $150,000. Low-interest-rate mortgages backed by the FHA and government-controlled mortgage companies Fannie Mae and Freddie Mac are only available on loans below limits set by Congress. Last year, Congress increased those limits to $417,000 in most markets, and to as high as $729,750 in certain high-cost markets, including parts of Hawaii, California, New York and Washington, D.C.

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