Realtors gear up for summer

For Durant, the past year has been characterized by clients who are struggling with an economic downturn and, in some cases, learning how to live with less.

"I think the best work to describe it would be 'transitional,'" she said.

Figures from GDAR show that despite a housing meltdown in some parts of the county where homeowners find their abode worth a fraction of what it was at closing, home values in the Capital Region have not taken a drastic tumble.

In fact, a recent nationwide study characterized Capital District homes as overvalued in large part because of this very reason. The HIS Global Insight report examined fourth-quarter 2009 data to find the median area home price to be $199,000, or 11.3 percent over value. In 2005, the average home was $179,000 and 9.2 percent over value.

With a lower-than-average unemployment rate, various high profile business developments and the seat of state government in the area, it's arguable that a Capital District location should retain value in the midst of a bubble burst.

"For me, I think the Capital Region is a great place to live and work," Durant said.

The market can still be considered a buyer's environment, made even more so by technological advances that allow for virtual walkthroughs and more contact options between the realtor and client.

So where's the best place to buy a home now? That depends on a lot of factors, including your price range (the median home price is lowest in Schenectady County and highest in Saratoga County).

"It's specific to the person, it's specific to the area they want to live," Durant said. "That's my job, to make sure that they have the geographic regional view."


Vote on this Story by clicking on the Icon


Use the comment form below to begin a discussion about this content.

Sign in to comment