I sat at my open house yesterday deep in misery, I admit. I had several deals pending in different stages of flux, which I suppose is a kind word, and the past week to remember while I waited for resolution. There must have been at least 10 people - agents, buyers, owners - who needed to call me in response to my messages.
A few did, but the majority didn't. And that is what drove me....drove me.....well... nuts.
Two people called me several times and I told them how much I appreciated their communication. It makes my job so much more pleasant. We can commiserate or bat ideas around or simply talk. But without a phone call the imagination takes over. Imaginations, I've found, generally tend to dwell on the negative if not downright disastrous. Look at the past week we've had economically!
Eventually the calls started rolling in, and frankly all the news was good. I was able to say that progress was being made - if only that the players were at least talking now. Throughout the rest of the afternoon the words got better and better. Hallelujah!
It still doesn't take away those few solitary hours that could have been used (mentally) more productively. I used to have a pact with Alex. We'd set a time to talk, or when he lived with me, to come home or call me. We called it "panic time." It was an absolute. If 5:00 was the panic time, then by golly I would hear from him at least by 4:59 because a minute later I would assume the worst. But up until 5:00 I wouldn't worry (or at least not as much). It was a matter of trust that we didn't abbrogate. It made it much easier to live with him - and I'm sure he would say the same about living with me!
When I have a deal that requires communication from a third party, I usually tell my clients when they will hear from me. "I will call you by noon tomorrow," I promise, "even if I haven't heard anything at least you will hear from me." This saves everyone from wondering if they missed a call or didn't get voicemail. It's a great system.
I think the best compliment I've ever gotten was from a client/friend - "Meg always calls you back!" Now I have to live up to that - I just wish everyone else did, too!
Sunday, September 21, 2008
Saturday, September 20, 2008
...And Then Along Comes Mary....
"Mary" as I will call her - dear "Mary" decided to buy a home. She and her husband prepared for this purchase. Yes, they had a house to sell, credit to repair, but they wanted and needed a bigger house with some specifics not easy to find.
They looked for 18 months. Through the snows and the heat, all over Central New York. "It doesn't exist!" I'd complain to Bob. "They will never find it!"
But I kept looking and kept checking things out. Once I even told lovely Lisa in our office I was going to drive about 40 miles one way at night to not sell a house. "Where's your confidence?" she asked. "Why are you doing this?"
"Because they want me to - but this isn't the house."
But then it came on the hotsheet one day. Just what they wanted - exactly what they wanted and where they wanted. I called them and we hustled out there. They put in a full price offer and won out over the other people who wanted it.
The key was that they were prepared. They had done their homeowork, not just for the house but for their credit. They had a pre-approval in the bag and could buy without selling.
And good things come to those who prepare. While they searched, their own home was going through a transformation to make it highly marketable. They did what they needed to do - they had a home inspection so they knew the flaws, they took out piles and piles of junk, they decorated for the new buyer. They priced it right, too. After two open houses, it was sold.
Everyone closes in a couple weeks. "Mary" and her husband will have their new home, their buyer will move in soon after.
Key to this great tale is a willingness on everyone's part to be flexible - the sellers of the house "Mary" bought priced it to sell, "Mary" and her husband knew they had a good deal and were willing to make a concession or two, the buyer moved rapidly. Everyone delivered papers on time to attorneys and mortgage people and we will have a happy ending.
This is not a fairy tale. "Mary" is real. And she's not alone - there are many people out there doing the same thing, thank goodness.
So while I rant a bit about things not being easy, I must also speak glowingly about the successes - the deals that balance the hard ones.
Postscript - If you want to laugh and laugh, go to the Merry-Go-Round Playhouse's eastern premiere of "Church Basement Ladies." It stars the incomparable - and Skaneateles native -Maureen Quigley.
They looked for 18 months. Through the snows and the heat, all over Central New York. "It doesn't exist!" I'd complain to Bob. "They will never find it!"
But I kept looking and kept checking things out. Once I even told lovely Lisa in our office I was going to drive about 40 miles one way at night to not sell a house. "Where's your confidence?" she asked. "Why are you doing this?"
"Because they want me to - but this isn't the house."
But then it came on the hotsheet one day. Just what they wanted - exactly what they wanted and where they wanted. I called them and we hustled out there. They put in a full price offer and won out over the other people who wanted it.
The key was that they were prepared. They had done their homeowork, not just for the house but for their credit. They had a pre-approval in the bag and could buy without selling.
And good things come to those who prepare. While they searched, their own home was going through a transformation to make it highly marketable. They did what they needed to do - they had a home inspection so they knew the flaws, they took out piles and piles of junk, they decorated for the new buyer. They priced it right, too. After two open houses, it was sold.
Everyone closes in a couple weeks. "Mary" and her husband will have their new home, their buyer will move in soon after.
Key to this great tale is a willingness on everyone's part to be flexible - the sellers of the house "Mary" bought priced it to sell, "Mary" and her husband knew they had a good deal and were willing to make a concession or two, the buyer moved rapidly. Everyone delivered papers on time to attorneys and mortgage people and we will have a happy ending.
This is not a fairy tale. "Mary" is real. And she's not alone - there are many people out there doing the same thing, thank goodness.
So while I rant a bit about things not being easy, I must also speak glowingly about the successes - the deals that balance the hard ones.
Postscript - If you want to laugh and laugh, go to the Merry-Go-Round Playhouse's eastern premiere of "Church Basement Ladies." It stars the incomparable - and Skaneateles native -Maureen Quigley.
Friday, September 19, 2008
What a Week!
I have learned so much this week - about how to handle stress, mainly. And I know I'm not alone.
I've heard from several people who lament the passing of an art form - meet people, share houses over the internet, go see houses, check comps, negotiate briefly to buy the house of their dreams, have a home inspection that finds only a few issues, work out those issues, apply for a mortgage and get a good rate, get the commitment and update the abstract and have it surveyed and meet in an attorney's office to sign the papers. Ah, the good old days!
Now no deal is safe. It should be. Stocks rise and fall, but there's always the land. Nothing is so totally lopsided in Skaneateles, as it is in other parts of the country. Hold onto the property and it will increase in value.
Everyone complains about the bizarre market we're in. It's not just me, and it's not just agents. Anyone in the mix - attorneys, home inspectors, insurance people, mortgage processors and brokers - we all have our stories to tell.
So I walked a few miles today in this positively gorgeous fall weather, mowed the lawn the day before, talked and talked on my cell trying to work everything out and make my clients happy at least. It's going to be a few months or more before the good old days come back, but I have absolute faith they will!
I've heard from several people who lament the passing of an art form - meet people, share houses over the internet, go see houses, check comps, negotiate briefly to buy the house of their dreams, have a home inspection that finds only a few issues, work out those issues, apply for a mortgage and get a good rate, get the commitment and update the abstract and have it surveyed and meet in an attorney's office to sign the papers. Ah, the good old days!
Now no deal is safe. It should be. Stocks rise and fall, but there's always the land. Nothing is so totally lopsided in Skaneateles, as it is in other parts of the country. Hold onto the property and it will increase in value.
Everyone complains about the bizarre market we're in. It's not just me, and it's not just agents. Anyone in the mix - attorneys, home inspectors, insurance people, mortgage processors and brokers - we all have our stories to tell.
So I walked a few miles today in this positively gorgeous fall weather, mowed the lawn the day before, talked and talked on my cell trying to work everything out and make my clients happy at least. It's going to be a few months or more before the good old days come back, but I have absolute faith they will!
Tuesday, September 16, 2008
Skaneateles Real Estate - The Weekly Update
"Slowly I turn, step by step....."
Having lost a deal this week due to the mortgage mess and having gained a deal this week due to the mortgage mess, I think I am going around in circles instead of advancing or retreating.
There are currently 142 active listings in the Skaneateles area. We added 7 "new" ones this past week - 4 were actually re-lists and 3 were brand-new, first time in recent memory on the market.
Two properties were designated "contingent." One was in the town, another on the water (surprise!)
As of tonight, there are 8 "K"ed properties and 13 pending properties. One actually went right to pending - an eager buyer's agent found the perfect home for his people, talked the owners into selling for a decent price, and pended it immediately.
Only one property closed, and that was sort of in the Skaneateles area - but again, 10% under the original list price. There's a trend - especially for the homes priced for yesterday's market, not the current one.
About the mortgage mess: I lost a deal because people (not mine) were trying to buy a home with a credit score under 600 and a missed payment to boot in the past 30 days. Not the best idea. I gained a sale because frankly the real estate market, as Scarlett O'Hara would tell you, is what's real, not stocks on paper. When Wall Street has issues, real estate does well. It's a safer bet. So my buyer sold his stocks and moved his money into an investment property. As I said, it's time to invest in Skaneateles!
Having lost a deal this week due to the mortgage mess and having gained a deal this week due to the mortgage mess, I think I am going around in circles instead of advancing or retreating.
There are currently 142 active listings in the Skaneateles area. We added 7 "new" ones this past week - 4 were actually re-lists and 3 were brand-new, first time in recent memory on the market.
Two properties were designated "contingent." One was in the town, another on the water (surprise!)
As of tonight, there are 8 "K"ed properties and 13 pending properties. One actually went right to pending - an eager buyer's agent found the perfect home for his people, talked the owners into selling for a decent price, and pended it immediately.
Only one property closed, and that was sort of in the Skaneateles area - but again, 10% under the original list price. There's a trend - especially for the homes priced for yesterday's market, not the current one.
About the mortgage mess: I lost a deal because people (not mine) were trying to buy a home with a credit score under 600 and a missed payment to boot in the past 30 days. Not the best idea. I gained a sale because frankly the real estate market, as Scarlett O'Hara would tell you, is what's real, not stocks on paper. When Wall Street has issues, real estate does well. It's a safer bet. So my buyer sold his stocks and moved his money into an investment property. As I said, it's time to invest in Skaneateles!
Friday, September 12, 2008
Ernie Davis & Co.
Tonight is the world premier of the movie, "The Express," the biography of Syracuse University's Ernie Davis. He was an incredible running back and the first black man to win the Heisman Trophy. Traffic will be stopped, an orange carpet will be unfurled on Salina Street. Dennis Quaid, SU former football players, Newhouse graduates and honored guests will walk into the Landmark Theater.
Ernie Davis died of leukemia before ever getting to play in the NFL. I spent the morning addressing envelopes for a fundraiser for the Leukemia and Lymphoma Society, and remembering him. Bob had read to me an article by Arnie Burdick, a local sports columnist, from the Post Standard last night, leaving both of us in tears. Davis was a hero to us as young kids growing up in Syracuse, and probably our first brush with inexplicable death.
I had attended football games with my father, and probably saw Jim Brown play and then of course, Ernie Davis. The games are some of my fondest memories - my father would buy me a corsage from a local florist with an orange SU on the flower and we would walk to the games through Thornden Park. It was our time together.
When I heard of Ernie Davis' death I was in church on the corner of Brighton and Midland, then Atonement Lutheran. Will Headlee, I believe, was the choir director. The word came over the radio and we all stopped, speechless. I remember crying quietly with everyone else. We were stunned. Just the year or so before we had watched him play, watched as he won the Heisman. And now he was gone...? I don't think I even knew he was sick - my parents kept "bad things" from me.
Forty-some years later we lost another young man, a boy who was my son's tennis partner and best friend here in Skaneateles, to lymphoma. I don't think Ernie Davis' death prepared us for this event - nothing does. It's all senseless.
The movie will be difficult to watch but the celebration of a young man's life - and efforts to combat the cancers that ended these lives - must and should continue. I am glad "The Express" is coming to town, to remind us all of how precious life and loved ones are.
Ernie Davis died of leukemia before ever getting to play in the NFL. I spent the morning addressing envelopes for a fundraiser for the Leukemia and Lymphoma Society, and remembering him. Bob had read to me an article by Arnie Burdick, a local sports columnist, from the Post Standard last night, leaving both of us in tears. Davis was a hero to us as young kids growing up in Syracuse, and probably our first brush with inexplicable death.
I had attended football games with my father, and probably saw Jim Brown play and then of course, Ernie Davis. The games are some of my fondest memories - my father would buy me a corsage from a local florist with an orange SU on the flower and we would walk to the games through Thornden Park. It was our time together.
When I heard of Ernie Davis' death I was in church on the corner of Brighton and Midland, then Atonement Lutheran. Will Headlee, I believe, was the choir director. The word came over the radio and we all stopped, speechless. I remember crying quietly with everyone else. We were stunned. Just the year or so before we had watched him play, watched as he won the Heisman. And now he was gone...? I don't think I even knew he was sick - my parents kept "bad things" from me.
Forty-some years later we lost another young man, a boy who was my son's tennis partner and best friend here in Skaneateles, to lymphoma. I don't think Ernie Davis' death prepared us for this event - nothing does. It's all senseless.
The movie will be difficult to watch but the celebration of a young man's life - and efforts to combat the cancers that ended these lives - must and should continue. I am glad "The Express" is coming to town, to remind us all of how precious life and loved ones are.
Tuesday, September 9, 2008
Skaneateles Real Estate - The Weekly Update
Busy, busy week! It's been absolutely wonderful!
There are currently 146 active single family listings in the Skaneateles area. This is about a 10% decrease since mid-spring. And why? Homes are selling!
This week three new listings came on the market. Two were re-lists and high end waterfront and the other is a new village property, high end also.
Four properties were marked as "K" for contingent, among them my beautiful 11 Onondaga Street listing. Another village home, new construction and a waterfront round out the contingent designations.
This may be the first time in a very long time that the number of "K" properties in a given week is greater than the new listings, another sign of health.
Two properties were withdrawn, one possibly because it was rented. Five others simply expired, something that happens in this market unfortunately.
There was only one closing, an older village home in the mid-$200s. It had been reduced from its original price by about 14%. There are now 32 closed properties as compared with last year's 66. We'll make it up this fall!
There are currently 19 properties waiting to close. Add those to the 32 plus a few more that are still listed as active but have explanations attached to them and while it won't be a robust year it won't be as difficult as the first six months.
Syracuse itself was once again cited as one of the 10 most affordable markets in the entire United States. Skaneateles has a higher price point, but it is certainly much better off than many, many other places. We don't have the foreclosures or the entire developments standing empty. I saw a picture of mountain lions that had moved into one neighborhood out west and taken over a home that was vacant. Not here. Not ever.
So call your Realtors and make appointments before it's too late to take advantage of our slower market. I know people who have and they are thrilled. It will help everyone!
There are currently 146 active single family listings in the Skaneateles area. This is about a 10% decrease since mid-spring. And why? Homes are selling!
This week three new listings came on the market. Two were re-lists and high end waterfront and the other is a new village property, high end also.
Four properties were marked as "K" for contingent, among them my beautiful 11 Onondaga Street listing. Another village home, new construction and a waterfront round out the contingent designations.
This may be the first time in a very long time that the number of "K" properties in a given week is greater than the new listings, another sign of health.
Two properties were withdrawn, one possibly because it was rented. Five others simply expired, something that happens in this market unfortunately.
There was only one closing, an older village home in the mid-$200s. It had been reduced from its original price by about 14%. There are now 32 closed properties as compared with last year's 66. We'll make it up this fall!
There are currently 19 properties waiting to close. Add those to the 32 plus a few more that are still listed as active but have explanations attached to them and while it won't be a robust year it won't be as difficult as the first six months.
Syracuse itself was once again cited as one of the 10 most affordable markets in the entire United States. Skaneateles has a higher price point, but it is certainly much better off than many, many other places. We don't have the foreclosures or the entire developments standing empty. I saw a picture of mountain lions that had moved into one neighborhood out west and taken over a home that was vacant. Not here. Not ever.
So call your Realtors and make appointments before it's too late to take advantage of our slower market. I know people who have and they are thrilled. It will help everyone!
Tuesday, September 2, 2008
Skaneateles Real Estate - The Weekly Update
Now we're cooking with gas!
There are "only" 142 active listings in the Skaneateles area as defined by the multiple listing service.
This past week only two new listings came on - a re-list with a reduced price, and my gorgeous listing on Autumn Tree Court (open Saturday, $394,500). Sorry - had to do it!
The good news is that 5 - count 'em, 5! - homes were marked contingent this past week. Two were solid investment properties, two were waterfront, and the fifth was new construction (a great house, too - sorry to see it sold!) But things are moving!
Overall there are 11 contingent homes, just waiting to be pended and then closed.
I looked more carefully this week because of the reduction of active listings. Where did they all go? Three expired - two of these were waterfront. Two others were withdrawn. There's never a reason - whether they were removed to prepare for a different brokerage, or the owners just have stopped wanting to sell, or were leased is never spelled out.
There are still only 30 closed homes for this year according to the multiple listing service. Ten were closed in the first two months of the year. In the past 60 days 4 out of the 10 closings have been waterfront.
Change is in the air! September has always been a good month - people are back from vacation, the air is cooler and more invigorating, people want to settle in for the winter. I think we'll all have a good fall!
There are "only" 142 active listings in the Skaneateles area as defined by the multiple listing service.
This past week only two new listings came on - a re-list with a reduced price, and my gorgeous listing on Autumn Tree Court (open Saturday, $394,500). Sorry - had to do it!
The good news is that 5 - count 'em, 5! - homes were marked contingent this past week. Two were solid investment properties, two were waterfront, and the fifth was new construction (a great house, too - sorry to see it sold!) But things are moving!
Overall there are 11 contingent homes, just waiting to be pended and then closed.
I looked more carefully this week because of the reduction of active listings. Where did they all go? Three expired - two of these were waterfront. Two others were withdrawn. There's never a reason - whether they were removed to prepare for a different brokerage, or the owners just have stopped wanting to sell, or were leased is never spelled out.
There are still only 30 closed homes for this year according to the multiple listing service. Ten were closed in the first two months of the year. In the past 60 days 4 out of the 10 closings have been waterfront.
Change is in the air! September has always been a good month - people are back from vacation, the air is cooler and more invigorating, people want to settle in for the winter. I think we'll all have a good fall!
Subscribe to:
Posts (Atom)