A friend told me that if you bought a house this year and filed your taxes for 2008 claiming that house, a check for $8,000 would come directly to you in a few weeks. Hmmmmm.
My mortgage person told me it was time to refinance, based on what rate I could get and what rate I had. I would save $173 per month! WOW! But my 700 credit score wasn't really good enough....had to get off that pesky Verizon mistake...hmmmmmm.
A friend is buying a house. He bought a house before he got married and his wife never quite got on the deed, so he thought that if his wife bought a new house - first time home buyer! - they would qualify for the tax credit, but no........
There are so many questions out there that need answers! If you would like to informally ask some more or hear the answers, you are invited to spend an hour with John Petrus from Key Bank.
When: Thursday, April 23rd 7:00 to 8:00 pm
Where: 3862 Highland Avenue in Skaneateles (call for directions)
Refreshments will be served - space is limited, so please call me (315-447-0441) to reserve a spot. I hope we have a fun and informative evening!
Wednesday, April 15, 2009
Skaneateles Real Estate - The Weekly Update
Please read through the usual update, short and sweet, then read on for a discussion I've been having in my head for a few days, prompted by a loyal reader.
Currently there are 133 active listings in the Skaneateles area of the multiple listing service. Eight new ones have been added - spring must be coming! Of the eight, only two are re-lists. One is waterfront with a new agent and a 10% reduction in price from the last listing and the second is also reduced about 10% and is in the Jordan-Elbridge school district.
The six new listings are made up of two in the village (both with the number 16 - spooky!) and one in the country. The other three have waterfront and range in price from $520,000 for lake rights, albeit village, to almost one million dollars down the East side. I imagine there will be others coming on.....now how would I know that?
But nothing sold this week, as evidenced by being marked contingent. And nothing new closed. I do know again at least two that are primed and ready for closing, just waiting for paperwork to be finalized.
Since there's so little to report except the new listings, I thought I'd look at other categories. No condos have sold this year so far, or multi-families although there are a few on the market. There have been four different groupings of lots that have closed totaling over 150 acres in all. While one would support a single house, the others could be developments in the coming years. It will be interesting to see how it all plays out.
Here's the discussion. A question was raised concerning why I didn't simply identify the houses that have closed. It is a matter of public record anyway, so I am not revealing anything confidential. I've chosen not to name addresses because I prefer to go a step farther, analyzing the trends. If, for example, a house listed originally at $499,000 and then sold three years later for $350,000 that is important. It may have gone through several Realtors, several price changes both up and down (it happens!) before common ground was discovered and there was a meeting of the minds. I am privy to the history because of the multiple listing service to which I belong and pay dues. That information is not general knowledge. I feel that as long as I speak about a property without naming it I can give more valuable information.
However - I do understand a desire to see what has sold this year and be able to identify the houses. "A village house" could be anything from a split level on Route 321 to a split level on Lakeview Circle. If the first house sold for $500,000 that is HUGE. I can see how this information is important to both buyers and sellers. I will therefore publish a list of sales - houses and sold prices - after every 20 sales. The sales will already have been published in the Post-Standard, but not everyone reads it, even online, and on occasion they seem to get it wrong. If someone has a reason to object, please let me know. And hopefully that list will occur next week, probably in a separate blog without any analysis.
Please enjoy the weather! And buy a house or two this week - the deals are out there!
Currently there are 133 active listings in the Skaneateles area of the multiple listing service. Eight new ones have been added - spring must be coming! Of the eight, only two are re-lists. One is waterfront with a new agent and a 10% reduction in price from the last listing and the second is also reduced about 10% and is in the Jordan-Elbridge school district.
The six new listings are made up of two in the village (both with the number 16 - spooky!) and one in the country. The other three have waterfront and range in price from $520,000 for lake rights, albeit village, to almost one million dollars down the East side. I imagine there will be others coming on.....now how would I know that?
But nothing sold this week, as evidenced by being marked contingent. And nothing new closed. I do know again at least two that are primed and ready for closing, just waiting for paperwork to be finalized.
Since there's so little to report except the new listings, I thought I'd look at other categories. No condos have sold this year so far, or multi-families although there are a few on the market. There have been four different groupings of lots that have closed totaling over 150 acres in all. While one would support a single house, the others could be developments in the coming years. It will be interesting to see how it all plays out.
Here's the discussion. A question was raised concerning why I didn't simply identify the houses that have closed. It is a matter of public record anyway, so I am not revealing anything confidential. I've chosen not to name addresses because I prefer to go a step farther, analyzing the trends. If, for example, a house listed originally at $499,000 and then sold three years later for $350,000 that is important. It may have gone through several Realtors, several price changes both up and down (it happens!) before common ground was discovered and there was a meeting of the minds. I am privy to the history because of the multiple listing service to which I belong and pay dues. That information is not general knowledge. I feel that as long as I speak about a property without naming it I can give more valuable information.
However - I do understand a desire to see what has sold this year and be able to identify the houses. "A village house" could be anything from a split level on Route 321 to a split level on Lakeview Circle. If the first house sold for $500,000 that is HUGE. I can see how this information is important to both buyers and sellers. I will therefore publish a list of sales - houses and sold prices - after every 20 sales. The sales will already have been published in the Post-Standard, but not everyone reads it, even online, and on occasion they seem to get it wrong. If someone has a reason to object, please let me know. And hopefully that list will occur next week, probably in a separate blog without any analysis.
Please enjoy the weather! And buy a house or two this week - the deals are out there!
Wednesday, April 8, 2009
Skaneateles Real Estate - The Weekly Update
I'm writing from the office tonight, the sun glaring in at me so strongly even my sunglasses don't help. Who cares? It's sunshine - and after a day of snow I am ready for sun! A dear friend stopped in with her husband and kids, just after eating at Johnny Angel's and before going for a walk on the pier. Village life....ah.....
There are currently 127 - same as last week, the same number! - active listings in the Skaneateles area of the multiple listing service. Four new ones came on this week, two as re-lists and two brand new ones. The new ones are in the $300,000 range. One of the re-lists is the gorgeous brick on Onondaga Street and the other is a marvelous ranch/contemporary home down West Lake Road, not too far from the village. Having spent a great deal of time there, I can tell you that lake views are possible from the kitchen and there are windows everywhere! It really is a lovely home in need of a family - or single person - or retired couple - to love it.
Three houses have sold this week, one a village property that hasn't been on very long and was never reduced. Unfortunately the other two were reduced tremendously, by 30% to 40%. As I say, there are bargains to be had! But the good news is that homes that have been on the market and whose owners are willing to price aggressively are succeeding.
That hypothesis is born out by the number of closings, so far 19 year-to-date. The latest is a village home that sold for about 15% under the original list price, but it sold! Last year we only had 14 closings by this time. This year is really looking up!
If there are conclusions to be drawn from the homes that have closed, the one startling number is in new construction - only one sale (in the MLS). I have to say I have heard many times this year from agents "Oh, they'll probably build." This is after seeing multiple homes and checking construction prices. I am guessing that several homes are under construction.
The world has changed. I had several conversations with mortgage people today. My bank quoted me 4.6% for a 15 year loan. Time to refinance! Others require 20% down, unheard of a year ago. But then there are the FHA loans with only 3.5% down for qualified buyers. They still exist, and in many cases have better rates than conventional loans.
But the office has been booming, the sun is out, and I am looking forward to another sale by the end of the week! In the meantime I will order takeout - black bean nachos for Bob from Bluewater - and maybe for me, too. It's time to celebrate. But before we eat, on the way home, I will show - no, SELL - a house!
There are currently 127 - same as last week, the same number! - active listings in the Skaneateles area of the multiple listing service. Four new ones came on this week, two as re-lists and two brand new ones. The new ones are in the $300,000 range. One of the re-lists is the gorgeous brick on Onondaga Street and the other is a marvelous ranch/contemporary home down West Lake Road, not too far from the village. Having spent a great deal of time there, I can tell you that lake views are possible from the kitchen and there are windows everywhere! It really is a lovely home in need of a family - or single person - or retired couple - to love it.
Three houses have sold this week, one a village property that hasn't been on very long and was never reduced. Unfortunately the other two were reduced tremendously, by 30% to 40%. As I say, there are bargains to be had! But the good news is that homes that have been on the market and whose owners are willing to price aggressively are succeeding.
That hypothesis is born out by the number of closings, so far 19 year-to-date. The latest is a village home that sold for about 15% under the original list price, but it sold! Last year we only had 14 closings by this time. This year is really looking up!
If there are conclusions to be drawn from the homes that have closed, the one startling number is in new construction - only one sale (in the MLS). I have to say I have heard many times this year from agents "Oh, they'll probably build." This is after seeing multiple homes and checking construction prices. I am guessing that several homes are under construction.
The world has changed. I had several conversations with mortgage people today. My bank quoted me 4.6% for a 15 year loan. Time to refinance! Others require 20% down, unheard of a year ago. But then there are the FHA loans with only 3.5% down for qualified buyers. They still exist, and in many cases have better rates than conventional loans.
But the office has been booming, the sun is out, and I am looking forward to another sale by the end of the week! In the meantime I will order takeout - black bean nachos for Bob from Bluewater - and maybe for me, too. It's time to celebrate. But before we eat, on the way home, I will show - no, SELL - a house!
Tuesday, April 7, 2009
How to Sell a House - Part Eight - The Open House
Now, despite all the dire warnings from so many people, I believe in open houses and I sell through them.
The open house is meant to attract people who want to look without making it a grand experience. The buyer doesn't have to call anyone, simply show up and walk through the front door. A friendly greeting to the agent is polite, signing in with a real name and number is expected, and then the buyer gets to see the house, usually in his or her own time. That's how I do it.
The real buyers come at the first open house,which is why pricing is so important, right bfrom the beginning. They are the ones who have been watching the neighborhood either online or through an agent, or by driving around. The Open Sunday sign that goes out on the For Sale sign early in the week gears them up to look forward to seeing the house. They are primed and ready. They could come in earlier, but if they know they can casually approach the house then it's an easier introduction.
As a selling agent, I like having people milling about all at the same time. They comment on things - last week I heard a very audible "Awesome!" from upstairs. There's also the sense that if the buyer does not act quickly, the smiling guy they passed on the stairs will take the house away from them.
Open houses are also the time for friends to check out houses for other friends. It happens very often, that the principle buyer will not come but will send someone who likes looking at houses to check it out. There's no need for phone calls, just dropping in and being pleasant for a few minutes, then reporting back.
There's nothing like a successful open house! People go up and down, discuss what they like - and what they don't like - place furniture. The kids who go through claim their rooms (but they do that anyway, any time they go through any house!) Feedback is fairly instantaneous. I can watch and see what attracts attention - the stainless steel refrigerator? The mud room? The decorating? It literally is seeing the house through someone else's eyes - an invaluable tool!
After the open house I generally follow up but I don't become the dreaded "pushy agent." Sometimes I send out cards or e-mails, at other times I call. Often there's a question I can answer or a thought that can be completed. I call agents if their clients came through and wrote on my sigh-in sheet "Represented by ___________________." Many times the agents have no idea their clients have gone through any houses.
I have an open house scheduled for this weekend on Sunday, the 19th, from 1:00 to 3:00 in Skaneateles. Look for it in the paper or online: 3862 Highland Avenue, 3 BR, 3 car garage, inground pool - $279,000. Tell me you read my blog and you will make my day!
The open house is meant to attract people who want to look without making it a grand experience. The buyer doesn't have to call anyone, simply show up and walk through the front door. A friendly greeting to the agent is polite, signing in with a real name and number is expected, and then the buyer gets to see the house, usually in his or her own time. That's how I do it.
First to come in usually are the neighbors. Often the owners say they don't want people "snooping." I see it as an opportunity for the people on the street to check out the house. If the seller has made it as beautiful as it can be, and everyone agrees it shows well - what's wrong with sharing it with friends and acquaintances? They have friends, too. If they like the house they will tell others and so on. Neighbors are good things!
The real buyers come at the first open house,which is why pricing is so important, right bfrom the beginning. They are the ones who have been watching the neighborhood either online or through an agent, or by driving around. The Open Sunday sign that goes out on the For Sale sign early in the week gears them up to look forward to seeing the house. They are primed and ready. They could come in earlier, but if they know they can casually approach the house then it's an easier introduction.
As a selling agent, I like having people milling about all at the same time. They comment on things - last week I heard a very audible "Awesome!" from upstairs. There's also the sense that if the buyer does not act quickly, the smiling guy they passed on the stairs will take the house away from them.
Open houses are also the time for friends to check out houses for other friends. It happens very often, that the principle buyer will not come but will send someone who likes looking at houses to check it out. There's no need for phone calls, just dropping in and being pleasant for a few minutes, then reporting back.
There's nothing like a successful open house! People go up and down, discuss what they like - and what they don't like - place furniture. The kids who go through claim their rooms (but they do that anyway, any time they go through any house!) Feedback is fairly instantaneous. I can watch and see what attracts attention - the stainless steel refrigerator? The mud room? The decorating? It literally is seeing the house through someone else's eyes - an invaluable tool!
After the open house I generally follow up but I don't become the dreaded "pushy agent." Sometimes I send out cards or e-mails, at other times I call. Often there's a question I can answer or a thought that can be completed. I call agents if their clients came through and wrote on my sigh-in sheet "Represented by ___________________." Many times the agents have no idea their clients have gone through any houses.
I have an open house scheduled for this weekend on Sunday, the 19th, from 1:00 to 3:00 in Skaneateles. Look for it in the paper or online: 3862 Highland Avenue, 3 BR, 3 car garage, inground pool - $279,000. Tell me you read my blog and you will make my day!
Saturday, April 4, 2009
Technology and "You Heard It Here First!"
Don't forget to read to the end for the good part, but I need to set this up first.
It's April and it's snowing out. Really, really snowing. The white stuff is going horizontal because of the wind. I showed two houses today and checked a couple more, and I'm glad to be back home at the computer.
As are many people, I dare say. This week I took a seminar - along with an overflow crowd of Realtors from the area, on "Marketing and Technology - A Survival Guide." The room was packed - we rarely have as many people from the office in the same place, and yet there we (almost) all were way up at Carrier Circle at 9:00 in the morning!
Because we need to know what's new, and how to get there. Our overall Syracuse market is still strong, and Skaneateles is getting stronger by the day, but who knows when the downturn will catch Central New York. If ever, but that's an editorial comment. In any case, we all could take Wednesday morning and early afternoon off on the odd chance that we would learn something.
The presentation in many ways merely showcased www.Realtor.com and why we need it. We can put 16 pictures now in the multiple listing service, but 25 on Realtor.com. And why would we? Because 87% of buyers now go to the internet to begin their search. That's huge! Up from 41% in 2001. Eight years and it's more than doubled.
By way of illustration, a friend sent me a link to a website with the note to check it out. It seemed inocuous enough - homes in the 13152 zip code for sale. But there were only 42, and I know - as you do, if you've been reading my blog - there are more than that for sale. I got more suspicious when it said there were no foreclosures or FSBOs (for sale by owners). By golly - all the listings on closer inspection were from the same company! You'd think no other company existed! And yet it didn't appear to be a hosted site - now why is that?
The important part is that my friend was looking, as are almost everyone else it seems, and now we have the statistic to back it up. My podiatrist seems to be the only person who doesn't know how much the house down the street from him was even listed for. But he's a rarity.
So, now that the case for technology has been proved, what can I do to best show my homes? I am on Realtor.com, but the presenter was right, I need a better camera to make my pictures stand out. I put the call out on Facebook and got suggestions, and will purchase one this week. (Stay tuned!)
And that's another skill we need to learn as Realtors - social networking. I entered the world of Facebook a few weeks back and found an old friend from high school - who is a photographer and who gave me a suggestion for a camera (I love this stuff!) But I can also send out the word about properties...and if you have other suggestions, please let me know!
The downside of all this is that print is going away. Although we continue to advertise in the Post-Standard our listings are also on www.Syracuse.com (as is a connection to my blog). I have a weekly ad in the Skaneateles Journal - has anyone seen it? I have yet to get a call saying, "Hey, I saw your listing in the Journal this week...." And with the decline of print - Harmon Homes is gone, the Syracuse New Times has cut their "Hot Property" column to save money and space - then the ads will go, too. Or maybe the ads went because they don't work and created a deficit for the newspapers...
So I will beef up my Realtor.com space, add a couple other paid internet sites for specific listings (waterfront and commercial) and.......drum roll, please!....and.....
I will have two ads on the new RE/MAX Real Estate Showcase to premier sometime in May on Sundays, 11:30 to 12:00 on Channel 68 (Fox, non-cable). This means every week two of my listings will have 3o seconds each and 6 photos, then if either are being held open they will be part of the open house scroll at the end of the broadcast. Our franchise, RE/MAX Masters, will share the half hour with RE/MAX Realty Plus which concentrates more on the northern part of Onondaga County. I have no idea if this will increase sales - I certainly believe it will or I wouldn't do it - but it will be something that none of the other brokerages have. You heard it here, first!
I am doing an open house at my adorable 12 Paul Street listing in Marcellus tomorrow, 1:00 to 3:00. The price is reduced to $119,900 which means that if you rent a home for $1,200 your monthly mortgage payment (principle, interest, taxes & insurance) would be less. Two weeks ago when I was there the owners surprised me with their own virtual tour on their gorgeous high definition set. It really was mesemerizing, and gives a sense (without voiceover) of what the ads will look like. It will be playing tomorrow, they tell me! Come see!
I really would love to hear thoughts about this new way to get the word out about my listings. Someone mentioned DVRing the show to watch later. I think that will happen a lot. I can see people calling friends and saying "Our house will be on next week!" I know what is coming up in my life for listings and I can't wait to see them on the show - plus my already photogenic listed homes!
So, it all ties together - technology, the new camera, television, doing something that's different in these very different times to sell houses!
It's April and it's snowing out. Really, really snowing. The white stuff is going horizontal because of the wind. I showed two houses today and checked a couple more, and I'm glad to be back home at the computer.
As are many people, I dare say. This week I took a seminar - along with an overflow crowd of Realtors from the area, on "Marketing and Technology - A Survival Guide." The room was packed - we rarely have as many people from the office in the same place, and yet there we (almost) all were way up at Carrier Circle at 9:00 in the morning!
Because we need to know what's new, and how to get there. Our overall Syracuse market is still strong, and Skaneateles is getting stronger by the day, but who knows when the downturn will catch Central New York. If ever, but that's an editorial comment. In any case, we all could take Wednesday morning and early afternoon off on the odd chance that we would learn something.
The presentation in many ways merely showcased www.Realtor.com and why we need it. We can put 16 pictures now in the multiple listing service, but 25 on Realtor.com. And why would we? Because 87% of buyers now go to the internet to begin their search. That's huge! Up from 41% in 2001. Eight years and it's more than doubled.
By way of illustration, a friend sent me a link to a website with the note to check it out. It seemed inocuous enough - homes in the 13152 zip code for sale. But there were only 42, and I know - as you do, if you've been reading my blog - there are more than that for sale. I got more suspicious when it said there were no foreclosures or FSBOs (for sale by owners). By golly - all the listings on closer inspection were from the same company! You'd think no other company existed! And yet it didn't appear to be a hosted site - now why is that?
The important part is that my friend was looking, as are almost everyone else it seems, and now we have the statistic to back it up. My podiatrist seems to be the only person who doesn't know how much the house down the street from him was even listed for. But he's a rarity.
So, now that the case for technology has been proved, what can I do to best show my homes? I am on Realtor.com, but the presenter was right, I need a better camera to make my pictures stand out. I put the call out on Facebook and got suggestions, and will purchase one this week. (Stay tuned!)
And that's another skill we need to learn as Realtors - social networking. I entered the world of Facebook a few weeks back and found an old friend from high school - who is a photographer and who gave me a suggestion for a camera (I love this stuff!) But I can also send out the word about properties...and if you have other suggestions, please let me know!
The downside of all this is that print is going away. Although we continue to advertise in the Post-Standard our listings are also on www.Syracuse.com (as is a connection to my blog). I have a weekly ad in the Skaneateles Journal - has anyone seen it? I have yet to get a call saying, "Hey, I saw your listing in the Journal this week...." And with the decline of print - Harmon Homes is gone, the Syracuse New Times has cut their "Hot Property" column to save money and space - then the ads will go, too. Or maybe the ads went because they don't work and created a deficit for the newspapers...
So I will beef up my Realtor.com space, add a couple other paid internet sites for specific listings (waterfront and commercial) and.......drum roll, please!....and.....
I will have two ads on the new RE/MAX Real Estate Showcase to premier sometime in May on Sundays, 11:30 to 12:00 on Channel 68 (Fox, non-cable). This means every week two of my listings will have 3o seconds each and 6 photos, then if either are being held open they will be part of the open house scroll at the end of the broadcast. Our franchise, RE/MAX Masters, will share the half hour with RE/MAX Realty Plus which concentrates more on the northern part of Onondaga County. I have no idea if this will increase sales - I certainly believe it will or I wouldn't do it - but it will be something that none of the other brokerages have. You heard it here, first!
I am doing an open house at my adorable 12 Paul Street listing in Marcellus tomorrow, 1:00 to 3:00. The price is reduced to $119,900 which means that if you rent a home for $1,200 your monthly mortgage payment (principle, interest, taxes & insurance) would be less. Two weeks ago when I was there the owners surprised me with their own virtual tour on their gorgeous high definition set. It really was mesemerizing, and gives a sense (without voiceover) of what the ads will look like. It will be playing tomorrow, they tell me! Come see!
I really would love to hear thoughts about this new way to get the word out about my listings. Someone mentioned DVRing the show to watch later. I think that will happen a lot. I can see people calling friends and saying "Our house will be on next week!" I know what is coming up in my life for listings and I can't wait to see them on the show - plus my already photogenic listed homes!
So, it all ties together - technology, the new camera, television, doing something that's different in these very different times to sell houses!
Thursday, April 2, 2009
House of the Week
Actually, this week it's a condo.
I toured the Seitz Building at the corner of Jordan and Genesee Streets in the village during brokers' open on Tuesday. Molly Elliott, the listing agent from Williams, told me that at the open house the previous Sunday there were 120 people jammed into the one finished condo. Grace Snook, her broker, said it helped to keep her upright, she was so tired.
It's an incredible project. Ten condos in all different sizes, all with good-sized windows and views of one of the main intersections and the lake or the outlet and the renovated Old Stone Mill. Prices range from $550,000 for 1017 square feet, 1 bedroom, 2 baths named "The Sailboat" to $695,000 for 1424 square feet, 2 bedrooms, 2.5 baths with a loft called "The Schooner." The largest is 1743 square feet and the smallest is 910 (and I think that includes a 300 sf deck). Four condos have lofts - and views that remind me of France, overlooking the rooftops. But France doesn't have Skaneateles Lake!
Once everything gets in place, there will be an elevator (I almost wrote "lift") and underground parking. We climbed stairs and didn't mind it. Each apartment is unique, with angles and laundry, and light everywhere. The finished - and staged - condo is small and seems so easy to live in. A bedroom doubles as a den, with its own bathroom. The kitchen is hardly a galley, gleaming with granite and stainless steel.
Andy Ramsgard is the architect. He's brought another historic project to Skaneateles.
I toured the Seitz Building at the corner of Jordan and Genesee Streets in the village during brokers' open on Tuesday. Molly Elliott, the listing agent from Williams, told me that at the open house the previous Sunday there were 120 people jammed into the one finished condo. Grace Snook, her broker, said it helped to keep her upright, she was so tired.
It's an incredible project. Ten condos in all different sizes, all with good-sized windows and views of one of the main intersections and the lake or the outlet and the renovated Old Stone Mill. Prices range from $550,000 for 1017 square feet, 1 bedroom, 2 baths named "The Sailboat" to $695,000 for 1424 square feet, 2 bedrooms, 2.5 baths with a loft called "The Schooner." The largest is 1743 square feet and the smallest is 910 (and I think that includes a 300 sf deck). Four condos have lofts - and views that remind me of France, overlooking the rooftops. But France doesn't have Skaneateles Lake!
Once everything gets in place, there will be an elevator (I almost wrote "lift") and underground parking. We climbed stairs and didn't mind it. Each apartment is unique, with angles and laundry, and light everywhere. The finished - and staged - condo is small and seems so easy to live in. A bedroom doubles as a den, with its own bathroom. The kitchen is hardly a galley, gleaming with granite and stainless steel.
Andy Ramsgard is the architect. He's brought another historic project to Skaneateles.
Wednesday, April 1, 2009
Skaneateles Real Estate - The Weekly Update
The world is righting itself again! If you are thinking about listing, now would be the time!
There are currently 127 (love that number!) active listings in the Skaneateles area of the multiple listing service. This week 7 "new" ones came on. All of these - I kid you not! - are re-lists, some with modified prices and others simply returning to the market place. They range from a million dollar plus home, non-waterfront, to new construction to village and town homes.
One of these homes is my 3862 Highland Avenue listing. I held an open house last Sunday there, and listened to feedback. The owners and I met on Monday evening to discuss it. We've - and I mean this sincerely, because it is a partnership when I list - have decided to lower the price of the home by $20,000 and re-market it as a great 3 bedroom, 1.5 bath home. Not only did I want to showcase it here, naturally, but also to give you a sense of why people choose to re-list a property. You have to listen to the market and respond.
No homes have been marked as contingent this week, although I know there have been showings. One lovely home in the village - also re-listed - has sold and gone directly to pending.
We have 17 closed properties for the year. Now take note of the next facts: two properties closed this past week, one AT the list price and the other, even though it had been on the market about 10 months in all, closed within 5% of the original list price. I tell you - the world is changing!
Last year at this time there were 14 closed properties, about 20% less than currently. The year before (2007) there were 21 in the first quarter of the year. The numbers are also going higher for pricing in the county - $310,000 to $460,000 - as evidenced by the five highest priced homes that closed this past week. Skaneateles still ranks by far the highest, averaging over $500,000 per home.
I attended a seminar today featuring a speaker brought in by Realtor.com. He talked about the number of agents nationwide, and how in 2000 people started going in to real estate because we were on our way to blowing up the bubble. When it burst, the number of agents declined and is still declining. Currently there are 2,721 agents in our multiple listing service. I'll keep an eye on that on occasion. Our market is still strong, remember!
I do believe we have turned a corner. It's time to buy that home to be in it by summer! In case I forgot to mention it, by the way, 3862 Highland Avenue is now $279,000, well under its new assessed value.
There are currently 127 (love that number!) active listings in the Skaneateles area of the multiple listing service. This week 7 "new" ones came on. All of these - I kid you not! - are re-lists, some with modified prices and others simply returning to the market place. They range from a million dollar plus home, non-waterfront, to new construction to village and town homes.
One of these homes is my 3862 Highland Avenue listing. I held an open house last Sunday there, and listened to feedback. The owners and I met on Monday evening to discuss it. We've - and I mean this sincerely, because it is a partnership when I list - have decided to lower the price of the home by $20,000 and re-market it as a great 3 bedroom, 1.5 bath home. Not only did I want to showcase it here, naturally, but also to give you a sense of why people choose to re-list a property. You have to listen to the market and respond.
No homes have been marked as contingent this week, although I know there have been showings. One lovely home in the village - also re-listed - has sold and gone directly to pending.
We have 17 closed properties for the year. Now take note of the next facts: two properties closed this past week, one AT the list price and the other, even though it had been on the market about 10 months in all, closed within 5% of the original list price. I tell you - the world is changing!
Last year at this time there were 14 closed properties, about 20% less than currently. The year before (2007) there were 21 in the first quarter of the year. The numbers are also going higher for pricing in the county - $310,000 to $460,000 - as evidenced by the five highest priced homes that closed this past week. Skaneateles still ranks by far the highest, averaging over $500,000 per home.
I attended a seminar today featuring a speaker brought in by Realtor.com. He talked about the number of agents nationwide, and how in 2000 people started going in to real estate because we were on our way to blowing up the bubble. When it burst, the number of agents declined and is still declining. Currently there are 2,721 agents in our multiple listing service. I'll keep an eye on that on occasion. Our market is still strong, remember!
I do believe we have turned a corner. It's time to buy that home to be in it by summer! In case I forgot to mention it, by the way, 3862 Highland Avenue is now $279,000, well under its new assessed value.
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