Hugh,

As many new homes/townhomes/condo developments are being planned for Malta, do you see this as having a positive or negative effect on existing home sale prices in Luther Forest?

Now first I'll say this is my personal opinion only, and although I have been selling homes here for in excess of 20 years I could be wrong, but I'm basing it on what I've seen before in the early 90's. Home prices will at best remain stable. +/-5% for the next few years. As far as new construction, It will remain slow, The best deal right now is in the recently built home 1-3 years of age. I have sold a number of them at less than the previous owner paid for them. The day of 100% financing is at least on hold for now, this has removed many buyers. Only well qualifed buyers can get good rate mortgages right now now.

Due to the tax laws, home ownership is still a great investment, but if you think you're only staying 1 or 2 years....you may want to rent. For the long term home owner (5+years) You should still buy a home and its a great time to do that. It does appear we have bottomed out, January will be the test of that. Malta home values will follow along with the all the other quality neighborhoods in the Capital District.

Hugh