I have been working to explain seller concessions recently. Those are the pesky dollars added on to a purchase offer to help the buyer with little cash to finance a house. They are limited - 3%, I believe, for a conventional mortgage and 6% for an FHA mortgage. This means that if the purchase offer is $207,000 and the concessions are $7,000 then the seller will net $200,000. The $7,000 will go back to paying the costs by the buyer of buying the house: appraisal fees, escrow, attorney's fees and others spelled out in the contract. The seller never sees the $7,000 - and neither does the buyer, usually, with the expenditure automatic at closing. This is a difficult concept, stumping other agents sometimes and certainly confusing sales. The first page of the contract says one number, i.e. $106,000 for an FHA loan and the second page says the $6,000 is going away. And then because the higher number is financing the deal, that is both the number the appraiser has to say the house is worth and the number reported in the paper! Plus we are seeing more seller concessions being written. (Brokers' commissions are based on the net.)
But in the event you want to buy a house in Skaneateles with or without seller concessions, then there are 123 actively listed homes. Thirty-two are in the village, and 28 are considered waterfront.
Six "new" listings came on this week. Only one was a true re-list, with a new agent and new price. The others range in price from the low $100,000 to about $700,000 for a home and acreage, plus other amenities. In-between are three village homes.
In the contingent category there are 19 homes. The recent ones are mostly village and except for one stunning waterfront property are listed around $300,000. One home was sold recently at auction.
The best news, however, is that the number of homes closed year-to-date is now 41. That doubles - DOUBLES - the number of homes closed in 2011 by this time. Amazing. The Second Twenty list will come out this week. You can go back into the archives of this blog to check it against the First Twenty filed at this time in 2011. Yes, I would say the recession, in Skaneateles at least, is receding. Hooray!
Wednesday, 27 June 2012
Saturday, 23 June 2012
Take me out to the Ballpark
We went to the Doubledays' game on Thursday night. It was one of the 95 degree days, with brilliant sunshine so you knew the evening would be hot and warm. What Fields of Dreams are made of.
And it was an extraordinarily beautiful night. Falcon Park in Auburn is right out of a Norman Rockwell painting. The young men who play may some day make it to the majors, but most likely will not. They play for pride, I would imagine. That, and nights like last Thursday when it all comes together.
It was dollar night. I got a hot dog for a dollar, and a beer (or two) for a dollar. Admission was $6. Parking is free, and right across the street. No reserved seating - box seats (a few rows) and general admission. It wasn't packed, so we could spread out and easily see the field a few feet away.
Our friend Tammy came with us, rather spur of the moment. She regaled us with tales of going to a Mets game. She said the ballpark was phenomenal - well-planned out, very secure, and extremely clean. She had a hamburger that cost $11. Ah, those New York City prices! But that trip took planning. Bob called her around 5:00 and we met up at 7:00.
The Doubledays were tied with the Batavia Mud Dogs in the 9th, after the sun went down and the lights came on. Then on through the 10th, the crowd getting a bit raucous and committed to rattling the other team. But in good humor, certainly okay for childen's ears. And then hits came in, a manager was ejected, a call disputed by the Doubledays' 3rd base coach and suddenly a hit - and they won.
But we all had won long before, having the rare privilege of being there on such a night.
And it was an extraordinarily beautiful night. Falcon Park in Auburn is right out of a Norman Rockwell painting. The young men who play may some day make it to the majors, but most likely will not. They play for pride, I would imagine. That, and nights like last Thursday when it all comes together.
It was dollar night. I got a hot dog for a dollar, and a beer (or two) for a dollar. Admission was $6. Parking is free, and right across the street. No reserved seating - box seats (a few rows) and general admission. It wasn't packed, so we could spread out and easily see the field a few feet away.
Our friend Tammy came with us, rather spur of the moment. She regaled us with tales of going to a Mets game. She said the ballpark was phenomenal - well-planned out, very secure, and extremely clean. She had a hamburger that cost $11. Ah, those New York City prices! But that trip took planning. Bob called her around 5:00 and we met up at 7:00.
The Doubledays were tied with the Batavia Mud Dogs in the 9th, after the sun went down and the lights came on. Then on through the 10th, the crowd getting a bit raucous and committed to rattling the other team. But in good humor, certainly okay for childen's ears. And then hits came in, a manager was ejected, a call disputed by the Doubledays' 3rd base coach and suddenly a hit - and they won.
But we all had won long before, having the rare privilege of being there on such a night.
Thursday, 21 June 2012
Buffini and Company
As I alluded to in my last post, I went to a conference called the Turning Point given by Buffini and Company at the Hyatt on Long Island. I was able to spend Father's Day with Alex, Rachel and Liam in Manhattan (we picnicked in Schurz Park) and then drive out to the hotel. I had been looking forward to this event for a very long time.
I had seen Brian Buffini in Vegas at the RE/MAX convention years ago. I think it was 2007. I came back ready to go and that's when I started my blog. So I like the way that spawned a new beginning and hopefully Turning Point, at the 500th blog, has started another chapter in my career.
I have always liked the philosophy that Buffini espouses: real estate success is formed by relationships, not "one and done" fly-by listings and sales. As I've said before, my clients become friends or acquaintances, people I enjoy meeting on the street or having lunch with. I have been in business for 11 years almost, and their children have grown up and gone on to their own lives. I have one entire family which I have watched as the four sons develop their businesses, meet and marry, have children. And it's not just them, it's their friends to whom they refer me. I went to a party last year - there were at least 40 transactions represented there, and every single person or part of a family in the room had been my client at some point, most for multiple transactions.
The other part of the Buffini message is a direct expansion of Rational-Emotive Therapy which I studied years ago while doing my Master's in counseling at Ohio University. RET is based on the assumption that what you tell yourself produces your behavior. Much simplified. If you do certain things you will receive rewards, even if the reward is simply telling yourself you did well. That confidence boost will produce energy that will produce more good things that will increase your energy....and on and on. You can actually work your way out of a slump or depression. Therapists hand out homework - do the homework, and in the doing you are actively participating in your recovery and - voila - you recover!
One thing I've always liked about real estate is that, unlike other careers, the harder you work the more you make. Within reason of course. So I have worked hard and it has paid off, not only financially but emotionally and socially.
I still needed a tune-up. I needed and wanted a way to work smarter. Buffini - through a discussion with our broker, Dave Cramer - had helped me through financial planning so that my money was not scattered but relegated to separate accounts. Now I needed to find a way to work and have a life. Last year by necessity I spent days away from Skaneateles with the birth of Liam. And I had one of my best years - how could that be? I told Rachel I had to find a way - and that Buffini and Company would make it happen.
They did. Through two intense days I got the answers I needed. The answers were there before, of course, but I hadn't been ready to do the work. Liam's birth pushed me over the edge. And everyone will benefit.
Basically they gave me a structure to my days and weeks. One I have to implement and individualize but I am ready. And it all makes sense. I hadn't seen the forest for the trees.
So, Brian Buffini, who came to America from Ireland with $92 in his pocket and became a millionaire at a very young age and now employs 370 staff, I thank you. He told a story the last afternoon about the notes he receives. He can't keep them all, but he keeps those of the children who write. They say things like "Thank you for giving me back my mother." "My father finally saw one of my games."
I will be there both for my clients and the children of my clients, and my family as well.
http://www.buffiniandcompany.com
I had seen Brian Buffini in Vegas at the RE/MAX convention years ago. I think it was 2007. I came back ready to go and that's when I started my blog. So I like the way that spawned a new beginning and hopefully Turning Point, at the 500th blog, has started another chapter in my career.
I have always liked the philosophy that Buffini espouses: real estate success is formed by relationships, not "one and done" fly-by listings and sales. As I've said before, my clients become friends or acquaintances, people I enjoy meeting on the street or having lunch with. I have been in business for 11 years almost, and their children have grown up and gone on to their own lives. I have one entire family which I have watched as the four sons develop their businesses, meet and marry, have children. And it's not just them, it's their friends to whom they refer me. I went to a party last year - there were at least 40 transactions represented there, and every single person or part of a family in the room had been my client at some point, most for multiple transactions.
The other part of the Buffini message is a direct expansion of Rational-Emotive Therapy which I studied years ago while doing my Master's in counseling at Ohio University. RET is based on the assumption that what you tell yourself produces your behavior. Much simplified. If you do certain things you will receive rewards, even if the reward is simply telling yourself you did well. That confidence boost will produce energy that will produce more good things that will increase your energy....and on and on. You can actually work your way out of a slump or depression. Therapists hand out homework - do the homework, and in the doing you are actively participating in your recovery and - voila - you recover!
One thing I've always liked about real estate is that, unlike other careers, the harder you work the more you make. Within reason of course. So I have worked hard and it has paid off, not only financially but emotionally and socially.
I still needed a tune-up. I needed and wanted a way to work smarter. Buffini - through a discussion with our broker, Dave Cramer - had helped me through financial planning so that my money was not scattered but relegated to separate accounts. Now I needed to find a way to work and have a life. Last year by necessity I spent days away from Skaneateles with the birth of Liam. And I had one of my best years - how could that be? I told Rachel I had to find a way - and that Buffini and Company would make it happen.
They did. Through two intense days I got the answers I needed. The answers were there before, of course, but I hadn't been ready to do the work. Liam's birth pushed me over the edge. And everyone will benefit.
Basically they gave me a structure to my days and weeks. One I have to implement and individualize but I am ready. And it all makes sense. I hadn't seen the forest for the trees.
So, Brian Buffini, who came to America from Ireland with $92 in his pocket and became a millionaire at a very young age and now employs 370 staff, I thank you. He told a story the last afternoon about the notes he receives. He can't keep them all, but he keeps those of the children who write. They say things like "Thank you for giving me back my mother." "My father finally saw one of my games."
I will be there both for my clients and the children of my clients, and my family as well.
http://www.buffiniandcompany.com
Wednesday, 20 June 2012
Time to play catch up!!!
I have officially turned into a horrible blogger :(
I am ashamed to say it ... but what once was my favorite thing to do has now sadly slipped to almost the bottom of my list because I have had ZERO time to do anything lately I feel like.
BUT I am turning I new leaf and getting back in the swing of things ... woohoo! This will be a total random post because I have so much just randomness to share!
First .. I have not gotten caught up on everyone else's blogs yet BUT I did read this post today and literally laughed outloud and agreed with every single word that was written by Ms. Raven ...
This was an awesome post ... one every single blogger (whether small, medium or large ha) should read!
Go Raven! Loved it girlfriend!
Next on the agenda ...
I have been a busy little bee let me tell you ... houses are selling like hotcakes here in good ol' KY, thank the Lord! With that said .. I am not sure ya'll noticed, but I decided it was time to step up my game with a new summer real estate picture ... ;)
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(Shirt is Lilly Pulitzer)
I am going with a new "Sold by Dana" theme ... and have been incorporating some of my AWESOME clients in with this (I just know they love that before a closing I stalk them to take their picture, lol)
So I feel like I need to give a shout out to my two recent sets of clients who closed on their new homes ...
Dr. Trace Bratton and his lovely wife, Sarah
(actually from my hometown of Bristol, VA and got transferred here ... Trace's and my grandparents are best friends, small world I tell ya!)
Casey and Macy Young (with future baby girl on the way!)
I am actually really sad I won't be showing them houses anymore :( We had fun, they were awesome to work with, and we had some funny house looking experiences I won't ever forget lol. But I do still have to sell their current home, adorable ranch in Hamburg, message me if you know anyone looking for a cute 1st home! ;)
PS. Don't you LOVE Instagram? I can't take a normal picture now, literally try and can't like it until it's distorted to look 100 years old in Instrgram lol.
Next ... Father's Day ....
We had a family cookout on Saturday night for Father's Day .. it was so fun!
Great food, family, friends and just hanging out ... but don't you know I didn't get one dang picture with my dad! :( So mad!!!
On Father's Day the kids and I made Chris breakfast in bed ha :)
We went to dinner that night ... and I love this pic ... so cute!! <3
The kids did a Father's Day project for Chris where we got the frames with a 5x7 picture on one side, and then on the other side you can do just a certificate or something, which is where we did a "Top 10 Reasons I Love You" and each of the kids thought of their own reasons and got super creative, they did a great job!! To say Chris loved them is an under statement ;) He was so happy and the kids loved presenting them to him in front of everyone! Adorable!
Vacation Time ...
We just went on our annual vacation down to Florida with the kids and Chris's parents and had so much fun!
This is a photo dump ... so sorry ... but I haven't hardly Facebook'd a lot of these yet so ... here goes ... :)
Ella, such the jet setter ha! Love this picture!
Our condos :)
We found tons of shark teeth on the beach, that is one of everyone's favorite things to do while we are there! So fun! We fill a jar at home with them :)
Chris did pretty good with the fishing this trip :) Such a cute little fisherman ha
That little fisher took a nap on the boat haha ;) Wore him out bless his heart!
Chris's Parents ... LJ & Cathi .. had so much fun with them! :)
Love this pic of the kids :) Precious!
Jake and I always have a million funny face pictures and he will look at them on my phone for like an hour and crack up haha!
You know I am totally obsessed with any sort of picture cut out ... so I couldn't wait to do those!!
LOL, you can also revert to this picture ...
Emily and I took at the Remax camping retreat lol
Hahahaha :)
We had such a good time on vacation ... it rained most of the week but we still found fun stuff to do and made the best of it :) On the last day home it was Jake's birthday so we had a birthday breakfast of doughnuts in the hotel that morning and opened some presents ha ...
My cousin Kenzy has the same Bday as Jake and we got to celebrate with her when we got home too ...
Can't believe she is 13 ... a teenager ... totally crazy! Love her though, isn't she so pretty and cute? The silly picture cut off her super cute cowboy boots she got for her bday :( But she looked adorable! Love you Kenzy!! XOXO
I feel like I have so many more things to share but let's be honest, this is enough for one post ha.
I will leave you with this ... my new desktop on my computer ... you can steal it if you want ;) I stole it from Emily ha so now I will pass along to everyone else ...
So appropriate for the 1st day of summer :)
Oh and I almost forgot ...
my baby ...
He is still such sweetness and he has been spending his summer days so far eating popsicles and hanging out with me :)
Love him!!!!! So freaking cute. <3
Can't wait to catch up on all my favorite blogs this weekend ... :)
Happy almost weekend!
Skaneateles Real Estate - The Weekly Update
The last blog I wrote turned out to be the 500th published blog. Five hundred. I would bet that the largest portion was the update - whether weekly, bi-monthly, the Wedding Edition. I have enjoyed the process but like most writers I know the "sitting down to it" is the hardest part. But 500 times I did.
And what that has gained me is an insight into the Skaneateles market that comes readily when asked. I was at a conference the past two days on Long Island and most of the Realtors I spoke with had never heard of Skaneateles. Amazing to me. But I remember when Rachel and Alex wanted a destination wedding and they chose Skaneateles and the Sherwood Inn, a vast majority of her downstate family and friends had no clue where the Finger Lakes were, much less Skaneateles. But the agents politely asked me about the market - sales, average prices, trends....and the words came swimmingly off my tongue. Of course the conference was in part about knowing me and my trends and stats and I was much more challenged. That will change, that will change.
First we have business to attend to. There are currently 122 active listings in the Skaneateles area of the multiple listing service, of which 30 are in the Village and 30 more are considered waterfront. The numbers are creeping up again. Last month we had only 106 active listings.
Three new ones came on the market in the past week. One is an extremely lovely waterfront home priced well under a million dollars. Another is a large village home with a good deal of bathrooms, which can be a rarity with our homes. The last is a home in the town (so we cover all categories) with acreage. The three re-lists are all Village homes which have been reduced quite dramatically.
Nothing new in the contingent categories or pending. We have 37 just itching to close, I am sure.
But this is the statistic that matters - 36 sold and closed single family homes year-to-date. Two of these are waterfront, and the third is a small Village home. All three were sold under their listing price - but not given away, as the phrase goes.
Another statistic that came up today....I went through my hotsheet and found 32 new listings in the areas I watch most closely. There were also 48 reductions in price. People are getting anxious - and they should. If rates increase, their potential buyers will be able to buy less house. An example given at the conference was a home selling at $450,000 with 3.6% interest rate. If the rates went up to 6%, the pool of buyers would drop; a current buyer would only be able to afford a $325,000 house.
So the good news is that there are homes for sale in our area. Some Realtors said they "have no inventory"! Others asked about working into the night because homes were selling so fast you had to show them the day they came on the market. Not here - not yet. Buy now - avoid the rush!
And what that has gained me is an insight into the Skaneateles market that comes readily when asked. I was at a conference the past two days on Long Island and most of the Realtors I spoke with had never heard of Skaneateles. Amazing to me. But I remember when Rachel and Alex wanted a destination wedding and they chose Skaneateles and the Sherwood Inn, a vast majority of her downstate family and friends had no clue where the Finger Lakes were, much less Skaneateles. But the agents politely asked me about the market - sales, average prices, trends....and the words came swimmingly off my tongue. Of course the conference was in part about knowing me and my trends and stats and I was much more challenged. That will change, that will change.
First we have business to attend to. There are currently 122 active listings in the Skaneateles area of the multiple listing service, of which 30 are in the Village and 30 more are considered waterfront. The numbers are creeping up again. Last month we had only 106 active listings.
Three new ones came on the market in the past week. One is an extremely lovely waterfront home priced well under a million dollars. Another is a large village home with a good deal of bathrooms, which can be a rarity with our homes. The last is a home in the town (so we cover all categories) with acreage. The three re-lists are all Village homes which have been reduced quite dramatically.
Nothing new in the contingent categories or pending. We have 37 just itching to close, I am sure.
But this is the statistic that matters - 36 sold and closed single family homes year-to-date. Two of these are waterfront, and the third is a small Village home. All three were sold under their listing price - but not given away, as the phrase goes.
Another statistic that came up today....I went through my hotsheet and found 32 new listings in the areas I watch most closely. There were also 48 reductions in price. People are getting anxious - and they should. If rates increase, their potential buyers will be able to buy less house. An example given at the conference was a home selling at $450,000 with 3.6% interest rate. If the rates went up to 6%, the pool of buyers would drop; a current buyer would only be able to afford a $325,000 house.
So the good news is that there are homes for sale in our area. Some Realtors said they "have no inventory"! Others asked about working into the night because homes were selling so fast you had to show them the day they came on the market. Not here - not yet. Buy now - avoid the rush!
Thursday, 14 June 2012
Skaneateles Real Estate - The Weekly Update
I came to the rather brilliant conclusion, way overdue, that buying a house is not like buying a car. I have had and will continue to have buyers who want specific criteria in a home. Some want village, and village only. Others want a view of the lake or waterfront that is cleared and easily accessible. I had my stream people a few years ago who wanted to fish but also had a budget. Homes can be changed, I think, to a certain extent. Locations can't. When I bought my Fiat convertible recently I had several choices - red, black, black with red interior - and except for varying delivery dates and promotions I could have gotten it in March or September - virtually the same car. Not so with houses. Once that house has gone, especially in Skaneateles, it doesn't come around again in six months (usually). The rates are so low that adding another $10,000 or so to get the house that the buyer specifically wants does not add a great deal to monthly payments - probably less than $50 per month or $600 per year on a 30-year mortgage. Just food for thought, as homes are moving quickly these days.
Currently there are 116 active listings in the Skaneateles area of the multiple listing service. Of these, 27 are in the village and 30 are considered waterfront. This past week four properties were re-listed and three new ones came on the market. All three are in the $200,000 to $300,000 range but are vastly different. One is in the village, and the others are in the town, one with acreage and the other on a major road.
There are a total of 38 single family homes with contracts on them. One new home was placed in this category last week. We now have 33 sold and closed properties year-to-date with the addition of a pretty village ranch.
Since Skaneateles is so far ahead of last year's totals I thought I would compare its progress to surrounding towns.
Elbridge is also doing well - 15 closings compared to 9 the year before. The median list price of $140,000 is slightly higher than 2011, and there were three homes that closed over $200,000.
Marcellus has no change in volume (20 homes) but its median list price was $155,000 compared to $128,000 in 2011. In both years there were 6 homes listed over $200,000 that closed.
Camillus has had an incremental increase in sales with 85 this year compared to 73 last year. While the median list price dropped to $127,000, this year 6 homes listed at over $300,000 closed and two of these were over $400,000. It looks like the higher end homes are finally catching up - and that could explain Skaneateles' spike in spring sales, also.
In any event - there are good deals out there and yes, unique homes that may not be on the market again this decade. Buy now!
Currently there are 116 active listings in the Skaneateles area of the multiple listing service. Of these, 27 are in the village and 30 are considered waterfront. This past week four properties were re-listed and three new ones came on the market. All three are in the $200,000 to $300,000 range but are vastly different. One is in the village, and the others are in the town, one with acreage and the other on a major road.
There are a total of 38 single family homes with contracts on them. One new home was placed in this category last week. We now have 33 sold and closed properties year-to-date with the addition of a pretty village ranch.
Since Skaneateles is so far ahead of last year's totals I thought I would compare its progress to surrounding towns.
Elbridge is also doing well - 15 closings compared to 9 the year before. The median list price of $140,000 is slightly higher than 2011, and there were three homes that closed over $200,000.
Marcellus has no change in volume (20 homes) but its median list price was $155,000 compared to $128,000 in 2011. In both years there were 6 homes listed over $200,000 that closed.
Camillus has had an incremental increase in sales with 85 this year compared to 73 last year. While the median list price dropped to $127,000, this year 6 homes listed at over $300,000 closed and two of these were over $400,000. It looks like the higher end homes are finally catching up - and that could explain Skaneateles' spike in spring sales, also.
In any event - there are good deals out there and yes, unique homes that may not be on the market again this decade. Buy now!
Wednesday, 6 June 2012
Skaneateles Real Estate - The Weekly Update
I just got back from an afternoon of driving around. First I went to meet the owners of 1650 Coon Hill which will be open on Sunday from 2:00 until 4:00. We talked drainage - they have a great system they installed a few years ago - and wells. The pump went on and off, giving the impression that there was sometimes a lag in the water pressure. A plumber put in a new valve and all is well - consistent excellent pressure, just in time for the open house. Then on to 169 Garrow Street Extension to put up the Open Sunday sign. That will be open from 11:00 to 1:00 in Auburn. My favorite part of the house is the private stone patio on the side.
Afterwards I stopped at Panera Bread. I got a gift card for Rachel because she's so excited that Panera Bread is opening in her Manhattan neighborhood. I also got one for Jolanta who has been recovering from rotator cuff surgery. Nice to do... And of course since I was there I indulged in a fruit pastry and coffee. The woman who served me explained that these pastries are made fresh at least every four hours, and she personally had made mine. When I am done with this blog I plan to go online to http://paneralistens.com and take their survey.
Now that I've slyly thrown in the two open houses this weekend....There are currently 114 active listings in the Skaneateles area of the multiple listing service. Of these, 29 are in the Village and 28 are waterfront. Eleven (!) new listings came on in the past week. Seven of these are re-listings, some with new prices but mostly just freshening. The four new ones include three 4-bedroom homes in the surrounding area, priced in the lower $300,000 and one of them over $400,000. The last is a waterfront home marketed above 1 million.
Nothing new has happened in the listings under contract or pending. The total number waiting to close is 38 - huge! I do know that one will close tomorrow, but as we all know it's not closed until it's closed. But oh please let it close!
However, two more homes have sold bringing the total number of closed sales to 32 for the year. One is an adorable ranch in the Jordan-Elbridge school district that had a contract within the first week. The other is a larger, more complicated estate that has now found its buyers. Congratulations to them both!
So on Sunday, when it's hot, come cool off with me on the patio in Auburn - listed at $139,500 - and then make the mad dash to Skaneateles and a couple miles out of town to Coon Hill ($169,900) off East Lake Road. The back yard is beautiful and the Adirondack chairs are waiting for you!
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