Watching CNN yesterday at noon I was amazed at the lines of people waiting to get their money out of the California bank that failed. On the way in to the village I heard that any money over $100,000 was not insured, so the excess would be returned 25 - 50 cents on the dollar.
I really never expected to see this in my lifetime. I thought of the scene in It's a Wonderful Life in which the people flood the bank, demnding their cash. Grapes of Wrath came to mind, with belongings (and Grandma) strapped to the pick-up. Say it ain't so!
Well, it's not. It's a different world today than in the Great Depression. Institutions learned from that and changed, put in safeguards so America (and the world) would never have to go through that again.
Yes, it will be different this year. Take the train, not the car to The City. Enjoy the beauty of the Finger Lakes and not Italy perhaps. Go to Saratoga and not Santa Monica. Sail instead of ski; Toggenburg instead of Aspen.
But as one door closes, another door opens.
If cooler heads prevail, perhaps five years from now we will be on the road to energy freedom - the hybrid cars, hydrogen cars, electric cars all may be the new thing but the "in" thing. We will have figured out how to heat homes without the high cost of oil - $4.77/gallon to lock in? We used over 1300 gallons a year until we disconnected the boiler! The pellet stove we bought in May has already paid for itself!
I do worry about the people who can't simply go out and buy a stove - but when everyone pulls together and faces the same circumstances, a sense of community can develop. Will develop, I hope. And it will be back to the old days - more kids will walk to school, but there will be fewer cars polluting. I have to believe that the number of vehicular deaths will drop dramatically.
A mortgage will return to being something that is earned, not blithely given away. There will be a pride of ownership that struggling to get something worthwhile encourages. The throwaway society we have become will change - the old mower will get fixed, the house renovated, the clothing stitched. I don't see the return of the darning egg, though, I must admit.
Change is always scary and being bombarded with unsettling images doesn't help. But I am excited to see what waits for us in five years, more than eager for a change of energy policy - I may have grandchildren some day who will benefit! But Skaneateles is not moving off the lake, and the lake isn't going anywhere either. No matter what - even if it means bringing back the trolleys and the trains - we will be able to spend a soothing summer afternoon in the park.
Wednesday, 16 July 2008
Tuesday, 15 July 2008
Skaneateles Real Estate - The Weekly Update
This will be short, but maybe not sweet yet.
The tide is turning. I'm writing this Tuesday morning and as I checked my MLXchange for broker's opens, I found none. I spoke with Lisa in the office and she said there were none that she could find, either - "I've never seen it like this!" she added.
I think it's progress. We're now going to sell off everything that's there. Quickly, I hope!
Snapshot: There are 159 active listings in the Skaneateles area. Only two new listings came on this past week, a village home and a waterfront for 1.4M. There are two new properties marked "K" for contingent for a total of 7 waiting for the next designation. Altogether there are 6 pending which means that all they need to do is close!
We have 21 closures according to the MLS so far this year. Last year there were 48 closed by this date. Sigh.
Marcellus had 32 last year and now 28; Camillus had 120 last year and now 141. Elbridge has held even. (BTW - I have an ad in the paper in Neighbors West and on Saturday in the Post-Standard: "Come to the village garage sale (in Elbridge) and buy a home! Open 11 to 1:00" for my 204 South Street ($174,500) listing. You have to have fun sometimes!)
There are 2,822 hard-working agents out there in the multiple listing service. All those agents will converge on Skaneateles for the sidewalk sale this Thursday through Saturday and to sell these homes because they recognize that "they" aren't making any more waterfront and there are so very few villages like Skaneateles in the world. If you don't want to live in the village or town, then buy a home in the area - we have a gorgeous landscape!
The tide is turning. I'm writing this Tuesday morning and as I checked my MLXchange for broker's opens, I found none. I spoke with Lisa in the office and she said there were none that she could find, either - "I've never seen it like this!" she added.
I think it's progress. We're now going to sell off everything that's there. Quickly, I hope!
Snapshot: There are 159 active listings in the Skaneateles area. Only two new listings came on this past week, a village home and a waterfront for 1.4M. There are two new properties marked "K" for contingent for a total of 7 waiting for the next designation. Altogether there are 6 pending which means that all they need to do is close!
We have 21 closures according to the MLS so far this year. Last year there were 48 closed by this date. Sigh.
Marcellus had 32 last year and now 28; Camillus had 120 last year and now 141. Elbridge has held even. (BTW - I have an ad in the paper in Neighbors West and on Saturday in the Post-Standard: "Come to the village garage sale (in Elbridge) and buy a home! Open 11 to 1:00" for my 204 South Street ($174,500) listing. You have to have fun sometimes!)
There are 2,822 hard-working agents out there in the multiple listing service. All those agents will converge on Skaneateles for the sidewalk sale this Thursday through Saturday and to sell these homes because they recognize that "they" aren't making any more waterfront and there are so very few villages like Skaneateles in the world. If you don't want to live in the village or town, then buy a home in the area - we have a gorgeous landscape!
Sunday, 13 July 2008
Movement and Rumors
I've spent the weekend here in the village. Yesterday I showed properties literally from morning to night, and of course in between I held open 14 Hannum Street.
In making appointments, I spoke with many agents and all were very willing to share what they've heard about the movement of properties.
Some we know - there's a SOLD sign on the house on the corner of State and Austin. Actually, that may be all we know in that fashion, but....
The "million dollar home" - the brick on the corner of East and Onondaga - is 99% gone according to one inside source. It's never closed until it's closed, but SOLD may appear soon.
A superb waterfront home that just came on may or may not be SOLD - we'll have to wait and see, but that should be resolved by the end of the week one way or another.
I do know that my clients won out over four other offers and now have the privilege of doing a home inspection on a place in Skaneateles. I can't wait to see SOLD on that property - but it's not up to me, alas!
There is a bit of land that's gone apparently - can't say SOLD yet, but it seems to be taken, much to the surprise of its owners. A longer story - should have SOLD ages ago!
The update is the subject of tomorrow's blog - but then, I'm showing several homes to two different sets of people, so it might not be written until Tuesday.... I certainly want to add to the number of SOLD signs here in the village!
In making appointments, I spoke with many agents and all were very willing to share what they've heard about the movement of properties.
Some we know - there's a SOLD sign on the house on the corner of State and Austin. Actually, that may be all we know in that fashion, but....
The "million dollar home" - the brick on the corner of East and Onondaga - is 99% gone according to one inside source. It's never closed until it's closed, but SOLD may appear soon.
A superb waterfront home that just came on may or may not be SOLD - we'll have to wait and see, but that should be resolved by the end of the week one way or another.
I do know that my clients won out over four other offers and now have the privilege of doing a home inspection on a place in Skaneateles. I can't wait to see SOLD on that property - but it's not up to me, alas!
There is a bit of land that's gone apparently - can't say SOLD yet, but it seems to be taken, much to the surprise of its owners. A longer story - should have SOLD ages ago!
The update is the subject of tomorrow's blog - but then, I'm showing several homes to two different sets of people, so it might not be written until Tuesday.... I certainly want to add to the number of SOLD signs here in the village!
Friday, 11 July 2008
Summer in the City
Sean Kirst's column today in the Post-Standard had me in tears before 8:00, as his columns often tend to do. I read them with trepidation, wondering what emotion he will wring from me.
Go to www.syracuse.com/kirst for his blog or the local section of today's P-S on www.syracuse.com to see what stirred me.
Sean wrote about a culture that appears to be dying. He spoke movingly about his experiences growing up in an upstate New York city, and how he wanted the same for his children. The impetus was a report that said Syracuse, for the first time in decades, is under 140,000 in population.
I've run into Sean over the years at Little League games and when my nephew returned from an extended tour of duty in Iraq. Many of my nieces and nephews have grown up on the west side of Syracuse, playing with his kids or at least enjoying the same pastimes. They've had true summers in the city - baseball games at the different parks, church on Sunday at Holy Rosary, theatrical productions through the city school district (last year's Beauty and the Beast was great!), working at ice cream stands like Gannon's and now Mahoney's on South Salina.
I have two listings that are investment properties in the area. One is a duplex, and if you read Sean's article you'll see why it stood out for me. It's a very pretty home, just across from Rosary - I'm showing it today to someone who wants his kids to stay in the city and begin their families there. Only $69,000 -
The other is a pure faith two family near there on a street that has seen hard times but is coming back. The owner has gone through it and brought back the charm of bay windows, large eat-in kitchen, hardwood floors, refurbished molding. Off street parking and a good-sized backyard with a fence like Sean describes, for talking over with your neighbor. Only $49,500 -
My nieces and nephews have gone on to colleges with educations in summer living in the city. I hope that they will continue the tradition of large families in the city so I can selfishly borrow some of the fun of hot summer nights sweltering at Little League games, eating hot dogs and rooting for the Southside Americans. Most will leave, I know that, but I hope the city remains for them to return to their roots, even as a visitor, as I have.
Go to www.syracuse.com/kirst for his blog or the local section of today's P-S on www.syracuse.com to see what stirred me.
Sean wrote about a culture that appears to be dying. He spoke movingly about his experiences growing up in an upstate New York city, and how he wanted the same for his children. The impetus was a report that said Syracuse, for the first time in decades, is under 140,000 in population.
I've run into Sean over the years at Little League games and when my nephew returned from an extended tour of duty in Iraq. Many of my nieces and nephews have grown up on the west side of Syracuse, playing with his kids or at least enjoying the same pastimes. They've had true summers in the city - baseball games at the different parks, church on Sunday at Holy Rosary, theatrical productions through the city school district (last year's Beauty and the Beast was great!), working at ice cream stands like Gannon's and now Mahoney's on South Salina.
I have two listings that are investment properties in the area. One is a duplex, and if you read Sean's article you'll see why it stood out for me. It's a very pretty home, just across from Rosary - I'm showing it today to someone who wants his kids to stay in the city and begin their families there. Only $69,000 -
The other is a pure faith two family near there on a street that has seen hard times but is coming back. The owner has gone through it and brought back the charm of bay windows, large eat-in kitchen, hardwood floors, refurbished molding. Off street parking and a good-sized backyard with a fence like Sean describes, for talking over with your neighbor. Only $49,500 -
My nieces and nephews have gone on to colleges with educations in summer living in the city. I hope that they will continue the tradition of large families in the city so I can selfishly borrow some of the fun of hot summer nights sweltering at Little League games, eating hot dogs and rooting for the Southside Americans. Most will leave, I know that, but I hope the city remains for them to return to their roots, even as a visitor, as I have.
Thursday, 10 July 2008
House of the Week
No question. I walked in to this home at 14 Hannum Street and was greeted by John Petrus (homeloan.chase.com/john.f.petrus) with "This is the House of the Week!" Apparently John has been reading my blog; he was there providing the refreshments for Jerry Morrissey's broker's open.
I chatted for a while with the homeowner, and we played the small world game. Her kids went to school with my niece and nephew, she's good friends (who knew?) with one of my sisters-in-law, and she also knows old friend Randy, famous for mentions in Jeff Kramer's irreverent column in the Post-Standard. Phfew! Got that out of the way!
As I stood there in the kitchen I realized overwhelmingly that I was in a unique home. I knew the house from its last incarnation - small, but with a measure of character, certainly a village home on the order of a Provincetown home without the exterior charm, close to others but so wonderfully in the village and on the creek. There were possibilities there, but not for my buyers.
Now it has character. No, Character with a capital C! The owner has done the sensible things: new roof, new windows, new siding, new plumbing, all new appliances, a 400 sf. addition to create a family room, two new bedrooms in the basement with a full bath, and another full bath to bring the total to three. All in two years!
Then she added the details, and while I hate the phrase "too numerous to mention," they are. She's listed them in an Improvements page I can send to you**(or pick them up at the open house), but I want to pull out some to highlight, and give you more that don't appear in the summary.
Structural. The kitchen floor is red brick, the kids' wing (basement) has a round stone sink with a McKenzie-Child's painted bowl, and the upstairs master bath used the old kitchen sink for the "new" bathroom. I hope this gives you an idea - I doubt it does, though. The beams/paneling in the eat-in kitchen came from the old barn on East Lake Road - Kuykendall's - that went down one afternoon a few years ago. The stones in the children's bathroom were uncovered from the original foundation. The brick in the enclosed patio came from a chimney that was buried in the kitchen wall. Again, there's more "too numerous....etc."
Staging. I had just finished re-reading The Great Gatsby (I've been told it should be read at least once a decade) and there I was, walking into the flapper era. I still haven't taken it all in, so forgive me, but I remember a dress hanging in the front room and a stole (mink?) on the couch. The small office has an incredible mural and the little space under the stairs was turned into a telephone nook. Climbing upstairs, they twist and turn, I came to a charming master bedroom which led into the master bath - I imagine that's where the clawfoot tub is. Absolutely charming!
It was impossible on a brief tour to see it all - the private gardens by the creek, it even has a garage! - so when jerry suggested doing an open house I agreed.
If you would like to see it, I will hold it **open on Saturday this week, the 12th, from 12:00 to 2:00**. I have appointments before and after, so I must stay within this time frame. (Of course you can always call to schedule a private showing, don't forget.) Easy to find - Hannum is the street by the Sherwood Inn. 14 Hannum is on the right, a white house, and there will be streams of people flowing in and out. Please tell me you read about it here - I absolutely love hearing that people read my blog!
Offered at $399,900.
I chatted for a while with the homeowner, and we played the small world game. Her kids went to school with my niece and nephew, she's good friends (who knew?) with one of my sisters-in-law, and she also knows old friend Randy, famous for mentions in Jeff Kramer's irreverent column in the Post-Standard. Phfew! Got that out of the way!
As I stood there in the kitchen I realized overwhelmingly that I was in a unique home. I knew the house from its last incarnation - small, but with a measure of character, certainly a village home on the order of a Provincetown home without the exterior charm, close to others but so wonderfully in the village and on the creek. There were possibilities there, but not for my buyers.
Now it has character. No, Character with a capital C! The owner has done the sensible things: new roof, new windows, new siding, new plumbing, all new appliances, a 400 sf. addition to create a family room, two new bedrooms in the basement with a full bath, and another full bath to bring the total to three. All in two years!
Then she added the details, and while I hate the phrase "too numerous to mention," they are. She's listed them in an Improvements page I can send to you**(or pick them up at the open house), but I want to pull out some to highlight, and give you more that don't appear in the summary.
Structural. The kitchen floor is red brick, the kids' wing (basement) has a round stone sink with a McKenzie-Child's painted bowl, and the upstairs master bath used the old kitchen sink for the "new" bathroom. I hope this gives you an idea - I doubt it does, though. The beams/paneling in the eat-in kitchen came from the old barn on East Lake Road - Kuykendall's - that went down one afternoon a few years ago. The stones in the children's bathroom were uncovered from the original foundation. The brick in the enclosed patio came from a chimney that was buried in the kitchen wall. Again, there's more "too numerous....etc."
Staging. I had just finished re-reading The Great Gatsby (I've been told it should be read at least once a decade) and there I was, walking into the flapper era. I still haven't taken it all in, so forgive me, but I remember a dress hanging in the front room and a stole (mink?) on the couch. The small office has an incredible mural and the little space under the stairs was turned into a telephone nook. Climbing upstairs, they twist and turn, I came to a charming master bedroom which led into the master bath - I imagine that's where the clawfoot tub is. Absolutely charming!
It was impossible on a brief tour to see it all - the private gardens by the creek, it even has a garage! - so when jerry suggested doing an open house I agreed.
If you would like to see it, I will hold it **open on Saturday this week, the 12th, from 12:00 to 2:00**. I have appointments before and after, so I must stay within this time frame. (Of course you can always call to schedule a private showing, don't forget.) Easy to find - Hannum is the street by the Sherwood Inn. 14 Hannum is on the right, a white house, and there will be streams of people flowing in and out. Please tell me you read about it here - I absolutely love hearing that people read my blog!
Offered at $399,900.
Tuesday, 8 July 2008
Skaneateles Real Estate - The Weekly Update
This week should be subtitled, "The Waterfront Edition."
There are currently 163 single family homes on the market in the Skaneateles area of the multiple listing service. Of course this includes new construction and properties not actually in the Town or Village of Skaneateles but somehow related to them.
This past week 8 more properties came on the market, of which 3 are waterfront and 2 are re-lists, one of them a waterfront. Since the Fourth of July weekend was last week and the village was absolutely overrun with tourists, bringing the waterfront properties on made a great deal of sense.
There were 2 - count 'em! - properties marked contingent. One was an incredible waterfront (or close to - across the road) and the other had great lake views. Also, the 1 closed property was waterfront, in the low $600,000s.
This made me wonder how all those many waterfront properties were actually doing in relation to other years. Of the closed properties this year-to-date (20), a total of 6 were waterfront. That's 30% - I can do it without the calculator.
Last year we had 46 closings at this time, and 9 of them were waterfront. That's slightly under 20%. For the entire year, this percentage remained (20/103).
So in conclusion, the waterfronts are selling better than the homes. We also seem to be ahead of last year's mark - my guess is because Skaneateles Lake is still a good buy, a great buy actually! There just isn't water out there like ours. Not as clean, as pure, as historic, and as easily reached from the major Northeast cities. And this year with the price of gas, it's time to stay home or not travel very far.
Skaneateles is a world-class destination!
There are currently 163 single family homes on the market in the Skaneateles area of the multiple listing service. Of course this includes new construction and properties not actually in the Town or Village of Skaneateles but somehow related to them.
This past week 8 more properties came on the market, of which 3 are waterfront and 2 are re-lists, one of them a waterfront. Since the Fourth of July weekend was last week and the village was absolutely overrun with tourists, bringing the waterfront properties on made a great deal of sense.
There were 2 - count 'em! - properties marked contingent. One was an incredible waterfront (or close to - across the road) and the other had great lake views. Also, the 1 closed property was waterfront, in the low $600,000s.
This made me wonder how all those many waterfront properties were actually doing in relation to other years. Of the closed properties this year-to-date (20), a total of 6 were waterfront. That's 30% - I can do it without the calculator.
Last year we had 46 closings at this time, and 9 of them were waterfront. That's slightly under 20%. For the entire year, this percentage remained (20/103).
So in conclusion, the waterfronts are selling better than the homes. We also seem to be ahead of last year's mark - my guess is because Skaneateles Lake is still a good buy, a great buy actually! There just isn't water out there like ours. Not as clean, as pure, as historic, and as easily reached from the major Northeast cities. And this year with the price of gas, it's time to stay home or not travel very far.
Skaneateles is a world-class destination!
Hiatus
I took a brief hiatus over the Fourth of July holiday, and my apologies to you, loyal readers. That doesn't mean I wasn't busy with real estate and Life.
During this time, I:
During this time, I:
- Wrote three offers, one of which turned into a multiple offer rapidly (of course this also means we saw three properties, wrote the contracts, re-wrote the contracts...)
- Roamed the lake, bringing flares to my waterfront clients (it's a long lake!)
- Worked with Pat Canole of the Post-Standard to make 11 Onondaga the House of the Week this past Sunday
- Held 11 Onondaga open Sunday afternoon - it was amazing! The power of the press!
In the Life category:
- My son proposed to his lovely Rachel with a sign we hung from the deck at the lake, "Rachel, Will you marry me?"
- She said "Yes!"
- We said good-bye to our old cat, Hermes, Sunday night. He was the subject of a blog (March 13th in the archives) when we thought he might leave us. Doc Schnabel said "Not yet" and Hermes got to sit in the sun on the deck for more months than we thought he would have.
So please excuse the hitaus - I have an update planned and houses to see on broker's open today - I will make it up to you!
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