We are excited to introduce the Mosaic Spotlight. A new series where we sit with local business owners to discuss their business, the industry, and the impact they have on the local community with the ultimate goal of “bringing local businesses together piece by piece.”

In today’s episode of The Mosaic Spotlight, Investment Advisor Representative Tom Dingley, ChFC®, LUTCF®, sits down to discuss the local real estate market with Associate Real Estate Broker, Karen Charbonneau of Saratoga Home Team in the Miranda Real Estate Group.

We are definitely in a Seller’s Market

Associate Real Estate Broker Karen Charbonneau discusses the pandemic’s effects on the local real estate market. “We are definitely in what’s called a Seller’s Market,” Karen says. “We are getting multiple offers on houses.

But, as we have seen the high prices of real estate and low-interest rates, it is hard not to reminisce of what happened in 2007-2008 with the market crash. According to Karen, “Right now seems to be different… the reason for it is different. The pandemic is driving the demand we are seeing in this area. People are finding that they can work from home, companies are finding that it’s working to work from home.”

GCAR closed listings 2019-2021

“So with the number of new listings down and closed sales up, the supply and demand have increased about 10.5%,” says Karen. According to GCAR the average sale price of a single-family home in the capital region is just over $269,000.

Another thing we hear about is putting down 20% down when purchasing a house so that there is no private mortgage insurance (PMI). Karen explains, “putting 20% down is great if you have it, but if you don’t, I wouldn’t wait… if the interest rates go up, the payment will be much more than your private mortgage insurance payment.”

Today’s buyers and sellers need a trusted resource that can guide them through the complex world of real estate. With the Saratoga Home Team’s combined extensive knowledge and commitment to providing only the best and most timely information to their clients, they are your go-to source for real estate industry insight and advice. Feel free to contact them for all your real estate needs. If you are interested in contacting Karen Charbonneau Associate Real Estate Broker of Saratoga Home Team in the Miranda Real Estate Group you can reach her directly by phone at 518.290.1009, or by going to her website: www.saratogahometeam.com.

Purchasing a home can be very challenging but also very rewarding at the same time. It can impact your retirement portfolio and your investment portfolio. If you have any questions, please don’t hesitate to contact us, we’d be glad to help.

We’d Love to Help You With Your Financial Plan


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