
Courtesy Ted Wilson
By Maureen Werther
For Warren and Washington counties, the real estate news is mostly good, according to Ted Wilson, owner of All -American Properties with offices in Glens Falls and Chestertown.
Wilson and his team of 22 agents have seen markets at their worst, their best and somewhere in between. He described the current residential market as “stable,” noting that the statistics from 2017 and 2018 are pretty similar. It could also be called a “flat” market, but Wilson is quick to point that he would rather have a stable market over one that is in decline.
For years, interest rates were a strong determinant for people contemplating entering the real estate market. Wilson said that rates have remained low for so long and they are no longer the determining factor they used to be.
“Nobody even seems to think of them anymore,” he said. Unless they rise, which some indicators are pointing to for the future. However, the bygone days of 8, 9 and even 10 percent interest rates are dim memories for most home buyers, with first-time buyers having no experience with higher rates.