Is there good news on the horizon for Dutchess County homeowners? Two mortgage representatives told me this week in separate conversations that the Dutchess County area is no longer deemed a declining market by the lenders they work for. One rep was specific to state that the term being used now to describe the local market is "soft."
I don't think we'll see any robust changes in the near future. Up until now Dutchess County had been considered a declining market for the last 18-24 months. It may remain soft for some time., but this is a little better than declining. Have we hit bottom? Will the market turn around? Nobody has a crystal ball to really know for sure.
All I can say is that I have the statistics to back up what I was told. Something is changing and I think it's for the good, at least for homeowners. and perhaps not so good news for buyers still sitting on the fence. Click here to take a look at the market summary I posted a few days ago. Poughkeepsie Area Market Overview .