Monday 31 March 2008

Skaneateles Real Estate - The Weekly Update

It's time to "monitor and adjust." I realized last week that while homes may sell, the people who input the closings may not do so for a while, so it's better to look at closings from a year's point of view.

This year since the first of January I see 13 closings for Skaneateles as published through the multiple listing service. There were 7 in January, 3 each in February and March. Of these, 6 were village homes, 3 were waterfront (even in the winter!). A couple were technically not in Skaneateles, but listed in the area because of the lake. Prices ranged from $117,900 to $825,000. Generally, the sale price was about 7% to 10% off the list price.

This last fact is difficult to generalize. Several homes have gone through cycles of listings, starting at a higher price and coming down as Realtors changed, as time went on and the homes became "shelf worn." The 10% figure might not be accurate in these cases from the initial pricing, just as the house which sells within the first day at a fire sale price does not accurately reflect what is happening.

Last week I forgot to publish the average price for a home in Skaneateles, which was $558,000 according to the paper. In reference to this week's number - $549,300 - the difference is minimal. Both are well above last year's average of $484,800. Not too many communities outside of central New York are able to boast an increase of over 11%!

Currently there are 94 active single family homes listed in the Skaneateles area. The lowest price is $114,900 and the waterfront on the west side remains the highest at about 3.5M, although there is a second one on the east side which is nudging it.

What to take away from this? Skaneateles is still a good investment!

Sunday 30 March 2008

Declutterization - Part One

Over and over I am asked what is the best thing to do to sell a home. I'm on my way to just such an appointment this afternoon, and the answer will be what it always is - get rid of "stuff."

Early on in my career I showed a house owned by an older couple who were down-sizing. Their home was filled with a lifetime of memories and just plain stuff. It wasn't just all over, but was boxed and on shelves, the workshop organized with every tool imaginable, and the house what my clients wanted. They expressed the opinion that the older couple would never move.

"Of course they will," I insisted. "Everything will go - you can even write it into the contract that by walk-through it will be gone."

"No," they said, and we looked at other homes and bought something else.

To my knowledge, they were right. The home of the older couple never did sell! The family took it off the market and it sits to this day, filled with stuff, I imagine.

My mother's house was the same. She knew she had to move and the moving date was scheduled for July, so in January she started filling boxes with a younger woman who came to help her once a week. They worked full days, sorting and throwing out, enjoying memories and filling boxes that eventually came to be stacked in the living room and walked around for months. Moving day came. We took out all the boxes - and the house was still filled with stuff. Every closet was still packed, the attic was still full - and now we had the boxes, too!

Over the summer she and my son, Alex, spent long days in the attic again sorting and boxing and letting go, supposedly. They would nod off in the heat, waking to work some more. We brought those boxes to our house, too. And the broken spinning wheel, the doll's house, the books and photos of someone's relatives.

I went back myself and got the clothes out. Yes, I saved her suede jacket that I remember from my childhood. All the muffin tins, loaf pans and cookie cutters came too. Besides the clothes, I had trouble throwing things out, too. My long-suffering husband sighed and built shelves in the basement and the garage.

"Your family never throws anything out!" he grumbled.

Over the years my mother lived with us she would go through a box a week, handing things to him with the exhortation of "Find a good place for this, would you, please?" If he got it past me, it went in the garbage. Of course one Christmas my mother asked for her cookie press and we assumed he had thrown it out, so we surreptitiously went out and bought a new one. After she passed on, we found the old one - and another two!

My birthmother's family gave me the opportunity to bring all her things to my house when she passed on, too. This was 1993, and I was still living in Skaneateles in a small cottage. Her belongings from her two bedroom apartment (and multiple storage units) in Binghamton overwhelmed our home for months. Alex and I walked around boxes ourselves, not having met Bob-the-shelfbuilder yet. For years afterwards I had mini panic attacks whenever I entered a dollar store.

So now you can guess the state of our house. My son seems not to have inherited the family penchant for stuff. He still has a closet here but it's half-filled. His tiny Manhattan apartment can't hold any. But despite many, many garage sales and e-bay sales after my mother passed away two years ago we are still overrun by stuff.

I had clients two years ago who told me quite seriously that they have decided not to accumulate stuff. They were just starting out, and they said they watched their parents take load after load to the dump in their 60s of things they had kept and moived with for over 40 years. They were determined not to do that, so in their own cross-country move they would weed out what was important and what not. I remember thinking how smart they are! (Of course two years later they tell me they didn't do it and thank goodness they bought a large house for all their stuff!)

Point is - we have stuff, you probably have stuff - and now what do we do about it?

Friday 28 March 2008

Then and Now

Then it was past eight o'clock in Manlius, east of Syracuse, when I finished showing houses to my out-of-town clients. We were exhausted, having gone strong since 3:00. They went off for an evening of good food in a local restaurant and a long discussion of the possibilities we had seen. Great choices, but a difficult decision lay ahead.

I headed for home, knowing there would be dinner on the table (thank you Bob!), a warm bottle of Ithaca Nut Brown Ale, a cozy fire and NCAA basketball games to watch. The rain started to mix with snow as I flew past Wegman's in Fayetteville onto a scary 690. Lanes blurred and I wanted a distraction. NPR was hosting a discussion of ants and their habitats. That wasn't it. I turned to AM radio and found the West Virginia/Xavier game in progress. It had been a long time since I'd listened to a game on the radio, but it was most welcome.

At the breaks I heard commercials - local and national. RE/MAX apparently through Westwood One is a sponsor of the NCAA Tournament. I thought how apropos it was - my weary self being brought home to the sound of a RE/MAX commercial. But how true it was, too. "RE/MAX agents sell more homes per average than any other company." We do!

Now I'm in the office, finishing up before grabbing dinner from Doug's next door and running home for the 7:00 game tonight. After starting again at 9:00 this morning in the unexpected snow, the couple decided on a new home - hooray! Agents needed to be notified that despite their best efforts their homes weren't chosen. My family coming in from Florida tomorrow were just starting the process and I was also here to write their itinerary and make last minute adjustments. A latte from Vermont Coffee fortified me and as I typed from my desk in the front of the office I watched a pair of ducks waddling down the sidewalk on their way to the lake. Looking for a new home for their family, no doubt! I wish them well, and look forward to seeing their ducklings in the spring.

Tuesday 25 March 2008

Unusual Homes

Last Saturday an article on the "Space House" caught my eye. The title was "Drop in housing market brings Space House price out of orbit." It was sold at auction in Chattanooga, Tennessee for $135,000. It looks like a flying saucer, complete with a retractable staircase.

We have a few different homes in our neck of the woods. Way out overlooking Otisco Lake somewhere is a tree house. The owner wanted to live in one and found an architect to design and build it. To my knowledge, it still exists.

Then there's the geodosic dome just outside Amber on the east side of the lake. It was on the market a few years ago and one of my clients put in an offer. It was eerie - if I said something in a whisper in one part of the house the sound bounced to another. I still liked it - quite rustic and on a great piece of land. The trees had closed in on it over the years - you wouldn't know it was there from the road. It sold for around $90,000, if I remember correctly.

I'm about to leave to look at absolutely beautiful homes - four/five bedrooms, three full baths (at least), granite and cherry kitchens, new construction for the most part, and acre lots "in a park-like setting." I know that I would prefer these houses in the long run (not that I'm buying!) but I am still tugged back to the odd ones. As I sit here, I try to think what I would build, if I could, that would be different. I'll have to think about that for a while.

Monday 24 March 2008

Skaneateles Real Estate - The Weekly Update

Listings continue to increase with the coming of spring. We now have 94 single family residences on the market. About 77 of these are actual homes, and the other 17 are "to be builts" placed by the builders' agents to show what could be placed on their lots. A good sign of the coming warm weather is that 2 of the new listings are waterfront. Soon we'll be basking by the water!

There were no closings or contingent contracts filed this week. As I went through the hotsheet last week I saw a closing in Skaneateles and was excited, knowing it would show up in this blog. Unfortunately - or not - it was a home I'd sold and closed on back in February. The agent's company just closed it out on the exchange. But still - it's a closing!

Adding to the listings this week were condos, 10 of them in the Seitz Building at the corner of Jordan and Genesee Streets. These have 1 or 2 bedrooms, with great views, and retail in the 500K range. There are three others on the market, also - 2 for $289,900 and a waterfront two level for $1,600,000. Condos are relatively new to Skaneateles but the success of the Thayer House on Genesee Street has encouraged others to try this form of ownership. There's also a tax advantage, but that's a further discussion.

Friday 21 March 2008

Coincidence? I Think Not!

Story #1

One of my clients told me an odd story recently. He had been looking for a home with me for a time, and really liked one we had seen. He was still uncertain so he didn't move on it - there were some drawbacks to it as well, major drawbacks.

He went to a conference on the west coast and was approached by a woman who recognized the company's name for which he worked. They got into conversation and she said she was from Utica, but lived east of Syracuse because she enjoyed the area so much. My client related his search for a home and as it turned out she lived in the same area in which this home he liked was located. Not only that, she had seen the home when she was searching too and considered it as well.

She encouraged my client - and bear in mind, these are two people who are meeting on the west coast (where presumably it's warm and springlike) talking about a specific house east of Syracuse - to pursue the home and work on the major drawbacks. We are doing that right now! Coincidence? I think not!

Story #2

I took a listing recently and as the talk turned to past lives I explored with the owner where our paths might have crossed. I told him that when I graduated I applied for a certain position in a school district but decided not to pursue it after they called me for an interview. I didn't have teacher certification and wasn't ready to be locked into a career path.

My owner as it turns out, was offered the position and took it, only retiring a few years ago! We believe it was the exact same job, and wonder how our lives would be different if I had taken it and he had gone on to something else. Coincidence? I think not!

Story #3

As many of my loyal readers know, I was adopted. In 1992 I was privileged to meet and come to know my birthmother. She lived in Binghamton but had grown up in Pennsylvania. Prior to my adoption at 11 months I was in foster care in Marcellus. I only mention this because there was no connection with central New York except that for her.

She passed away in April the following year. I was allowed to go through her belongings - we shared packratting in our genes, I think - and her photos. None in albums, just singles in drawers and boxes, very few with notations. But there among the photos was a lovely one of her standing on the pier in Skaneateles, St. James church in the background. I could tell that the photo was taken in the previous five years when I might have been on the same pier with her. Coincidence? I think not!

As one of the speakers at the RE/MAX convention so eloquently put it: "Coincidence is God's way of staying anonymous."

Thursday 20 March 2008

Blogging in Skaneateles

Last Saturday Chris Briel from Skaneateles Design hosted a "How to Blog" seminar at Creekside. She came up with the idea only on Wednesday, but Saturday morning at 9:30 ten people showed up to learn about blogging. There is interest!

Chris was great. She had thought ahead to provide us all with sheets on how to get started on Skaneateles Talk (http://skaneatelestalk.com/blogs). Three other Realtors came to learn, as did shop owners and private business people. She took us through the whys and hows and gave some great tips.

Curt Feldmann from Skaneateles Suites (http://skaneatelessuites.com) contributed to the discussion as well. He and Chris have been sharing information for a while now, pumping each other's websites up and taking the lead to put Skaneateles on the map. He says that we are all there for the common purpose - promoting our wonderful village and lake. Curt's efforts are netting him more than 1,000 hits each and every day!

I suggested to Chris that we do another session with more notice, possibly put out a press release or get it on Erika's Creekside newsletter. From this small meeting you can see on Skaneateles Talk that others have recently joined and new blogs are being posted. Check it out!

If you're interested in joining a session, or sponsoring one for your own business, Chris can be reached via briel@brielcomputer.com or through her website: http://skaneatelesdesign.com.

Tuesday 18 March 2008

A Sure Sign of Spring

After touring quite a grand new listing on broker's open today - the only one this week - I went into the office to go through my mail and leave notes for other agents. As I left, I ran into an old friend who spends a great deal of the winter (and some of the summer) in South Carolina. Although he'd hate to be called a "snowbird," his return did herald spring.

As we stood and talked on the sidewalk outside Doug's, our discussion turned to real estate - surprise! He told me that last year his investment group purchased over 1.5 million in Syracuse. This represents about 15 houses. They are currently waiting for the banks to give them a go ahead for another round, but he states that it's slow.

"Everyone's being careful," he said. "We have a lot borrowed out there and they don't want to take risks."

He asked about Skaneateles and I told him. He reiterated the "everyone's being careful" comment, then reminded me that he had a great waterfront parcel quietly for sale. I in turn pitched him my multi-unit, and we both laughed.

"There are some good deals out there!" he said in parting.

There are indeed! Now is the time to scoop them up!

Monday 17 March 2008

Skaneateles Real Estate - The Weekly Update

Last week I established the criteria for what would be considered in my weekly update. I want to add one other category, something that admittedly is published every Sunday morning in the real estate section of the Post Standard, but a fact that is important for context purposes. And since not everyone ("no, really?!") reads the Sunday P-S, then publishing it here makes some sense.

This number is the average price of a home in Skaneateles, currently $562,500. Last year at this time the average price was $473,800. Wow!

I remember when I first started real estate almost 7 years ago. The number then was around $200,000. Skaneateles' prices have increased, but not the crazy percentages that are seen elsewhere and have caused the housing crises in other parts of the country.

Another point about this number: the nearest competitor is the Town of Pompey, surprisingly enough, with their entry of $243,500. Skaneateles is influenced by waterfront homes, while Pompey has large homes, generally quite new, on large pieces of land.

On to the update! There are currently 90 active listings in the Skaneateles area of the multiple listing service. Seven new listings were added this week, all between $449,000 and $579,000.

There were no listings that went to contract (contingency) and only 1 closed, a house on Jordan Road for $125,000.

"Nothing is moving," people say. But the rates are still fairly low, people will want to buy to get in before summer, and we'll see what happens when more waterfront properties come on the market in the next few weeks!

Sunday 16 March 2008

Response to a Comment

On my last blog, a young reader wrote in to ask about the most expensive home sold in this area in the past five years. I published the comment, and now I'd like to answer this most intelligent question. And parenthetically, I hadn't thought of using the blog this way but this is great!

The most expensive house that came to mind immediately was 45 West Lake Street, and indeed after checking with the multiple listing service it was, by far. There may have been private sales, but this is the one on record with the service.

It truly is an incredible house. Within easy reach of Genesee Street, with a view over the water of the village, and over 7800 square feet of newly renovated space on 1.8 acres it is worthy of "most expensive home in the area" status. The deciding factor was, in my opinion, 422 feet of waterfront, the most, I believe, within the village.

I remember going to the broker's open and just falling in love. I had seen it before it was renovated and thought it was a lovely space, but the revamping of space and all the artful additions made it irresistible. The third floor had been totally changed into an Adirondack-like haven.

A lovely, lovely home; it sold for $4,900,000.

Saturday 15 March 2008

The Home Show

What a great afternoon! My husband and I went to the Home Show at the Fairgrounds to check out the setting for his presentation for Purcell Paints tomorrow. (This is an unsolicited plug, BTW - he, Bob Chestnut, will demonstrate painting with metallic paints and then woodgraining. Show times are 11:00 and 12:00 in the Toyota Building. Meanwhile of course I'll be doing the open house on West Elizabeth Street, a self-solicited plug.)

We had a good time, running into many people we knew who were interested in the latest trends in painting. Rakel showed her skill in first Venetian plaster techniques and then marblizing, transforming a wooden column into seemingly a black marble stand in less than an hour. She was followed by Heather who packed them in for her Skimstones exhibition. This is what I would call concrete painting, using a paint/powder that hardens and can be used for flooring or countertops. We saw it out west and it was a tremendous effect, like having a carpet embedded into the floor. Paints came from the Modern Masters series (www.modernmastersinc.com), courtesy of Purcell Paints (www.purcellpaints.com.)

We also ran into Mike Jandolenko, a friend and contractor from Skaneateles. He told us that he loves doing the Home Show, that he can almost book enough business to keep him going all year. Although he does everything, he told us he'd like to concentrate on finishing basements. His price is very good and he has excellent references. He can be reached through www.sljconst.com.

I also saw Mark Harrington manning his own booth for Harrington Homes. He's quite well-known in the area and has built for the Parade of Homes for years, I believe. I thought it was interesting that he would be there himself, despite how large a company he runs. His website is www.HarringtonHomes.org.

The Home Show runs through Sunday and is fun even if you're not remodeling. There were entire two story buildings constructed on site and the emphasis this year seemed to be on those patio stones that create instant walls and walkways. Several had built-in fireplaces or huge grills. It helped me remember that summer is only a couple (or so) months away!

Friday 14 March 2008

This and That

This Saturday, as in tomorrow, Chris Briel (www.skaneatelesdesign.com) will talk about blogging at Creekside, starting at 9:30. She got the idea when I asked her for some help which she readily offered. She sent out an e-mail or many, and got some good response so we'll be there somewhere in the coffeehouse. It's open to everyone who wants to come. Please join us!

That scandal resulting in our resigned governor was discovered because he moved money around suspiciously. Years ago I sold a house to a man from California. He wired over the money, and the attorneys and I sat in a room to finalize the deal and close the sale. The only problem was the money was stopped en route. The federal government under the Patriot Act thought it was suspicious because the name of the road was "Burma," as in the country. Our deal almost fell apart because of deadlines!

This Sunday is my open house featuring the gold coins which I bought today. I like to have fun, present something interesting at my opens so people will come. It challenges me, too. I think if the home has good energy then it will be more likely to sell. I always have refreshments and some kind of theme. Look for green balloons on West Elizabeth Street if you come!

That blog from yesterday about our Hermes - he's doing fine with new meds!

Thursday 13 March 2008

Homage to Hermes

Our old Himalayan, Hermes, is going to see Doc Schnabel tomorrow at the Weedsport Animal Hospital. He has a horrendous cold that is getting worse it seems. He's lost a lot of weight, and we are very concerned. Whether he has a week or a year, he is closing in on the end of his life and I want to somehow memorialize that life.

I came home early today to sit by the fire and read while he slept on a piece of paper on the floor. He's chosen - as is his wont - to do his own thing, which is to sit on my husband's chair in his workshop instead. That is the essence of Hermes - he has his own personality and will do what he wants, even more so than most cats.

My son and I gave him to my mother Christmas of 1992. She had insisted on no more animals because she wouldn't be around to take care of them, she said. (She lived another 14 years, protesting that every day was her last.) We brought him over to her house in Syracuse in a basket and let him find his way out. It took him a couple hours while we waited breathlessly for his appearance.

He was a shy cat, rarely seen. Once someone came and he shot out of the living room, forgetting that the door was shut. He burst through a glass panel in the French doors, with his hard head seeming not the worse for wear. Still, he hated having his head touched but my mother insisted that trait existed before he slammed into the glass.

She took him outside, but only on a leash. He was so beautiful she thought someone might steal him. He was lovely - a perfect flamepoint Himalayan whose eyes glowed red in reflected light at night. "The Lion," a friend dubbed him.

He was so shy (how shy was he?) my husband saw him only once before we were married, despite spending a great deal of time at my mother's getting her ready for the move to the country. Once here, Hermes blossomed. He was allowed outside alone and skulked after one of our other cats. He spent the day going in and out. My mother would barely get back to the couch with her rollator when he would want in again. Good exercise.

Once my mother passed away, Hermes became a social butterfly. He joined the other cats by day and enjoyed being with people. He often sat on my old computer monitor when I typed, having climbed over the keyboard first. If you fell asleep in his presence, he would gently paw your face to wake up and talk to him. He liked to talk at people, and seemed to listen. My son said you could watch him all day and never grow bored.

One of my favorite memories is seeing him sit out a ways with my mother and her little dog on a park bench under the trees in the spring and summer. The three of them would mosey out there with a book and just sit complacently together in the late afternoon sun, three old codgers enjoying each others' company.

Like all our animals, and our friends' animals, he will be missed but remembered with great love.

Wednesday 12 March 2008

Creative Marketing

I have to admit that one thing I didn't find at the RE/MAX Convention was a great deal of out of the box marketing ideas. I didn't take a lot of classes, but they weren't aimed at this anyway.

A couple years ago I listed a beautiful home here in Skaneateles that took a while to sell. It was in the high 600s, so we were prepared for a lengthy marketing experience, should we say. It was just when the market seemed to be turning, and we were reading about the extraordinary measures some agents were taking to make their homes more enticing. "Give people an incentive, and they will respond," said one of the RE/MAX presenters. So we did.

We (the owners and I) offered round trip tickets to Europe or beyond, imported ornamental balls, a monetary incentive to the agent who would sell it, and a list of other smaller goodies. The story was picked up by the Post Standard and there we were - above the fold on the front page! We were invited on to a local afternoon talk show to speak about the listing and for a few days we were quite the item. "You can't buy this type of advertising!" most people said. The house did sell, although not until we reduced the price and removed the incentives. Not my buyers - and I still wonder if they had seen the listing or were told about it, just were not able to act until later in the year.

Another time I thought that some land I was selling might have lake rights, and advertised the possibility. The land was cheap - $25,000 - and the ad ended up next to another bit of lake property selling in the millions. A reporter picked up the story and there was my owner's picture in the paper, sure enough! It still hasn't sold and we can't find that it has lake rights, but if you're interested.....

Several years ago I had an open house around St. Patrick's Day and gave everyone a gold coin worth $10,000 off the price of the house. Everyone laughed and thought it was great fun. Again, the house didn't sell that day but I am sure the gold coins were passed around and a "buzz" had been created.

So here we are again, and yes, it will be St. Patrick's Day on Monday and yes, I have an open house on Sunday and bygorrah, the Irish owners have agreed to the gold coin! Come to my open house between 12:00 and 2:00 at 51 West Elizabeth Street here in the village and pick up a gold coin. You never know! (The home and details can be seen on http://www.remax.com/- just type in 13152 or Skaneateles and it should be the second one to come up, #187353. ) Tell me you came because you read my blog and I will be thrilled!