Open House Alert!

Ready, set, go.......to 115 Raspberry in Scenic Meadows!  Come Sunday, March 3rd - I will be there from 12:00 to 2:00 showing off this lovely 5 bedroom, 2.5 bath home high on the hill.  It has three levels of living space - the bedrooms up, the family, living and dining rooms on the first floor, and then another kids' play area as well as a bar and office in the basement.

Please tell me you saw this blog - it will make my day!  And let's hope we have gorgeous, sunny weather and blue skies so you can really take in the view.

From 690, take 695 (Route 5) towards Auburn.  When you get off, turn right at the light and an immediate right onto Scenic Drive.  Within half a mile you will come to Raspberry on the left.  Go up the hill - tour around the community - and return to #115.  Refreshments and a great home await!

Finances

Real estate, as I have said before, is my "encore career," a nice descriptive phrase I picked up from the paper today (see Syracuse.com for the article).  Although the reference cites many examples that have to do with finishing one career and then going into another for a less profitable, more altruistic motive, I still like the idea of "encore."  Except in my case, I think teaching and administration was more a prelude and real estate is my primary career!

When I worked in schools, I mostly received a paycheck every two weeks or bi-monthly.  It wasn't the greatest paycheck (my Waldorf School experience in Saratoga stands out) but it was a paycheck I could rely on for the most part.  Health insurance was paid for or partially paid by the district (except for again, the Waldorf School).  I think real estate is fairly far removed from my administrative days at Spring Hill, but I wouldn't have lost those two years for any amount of money.

So I live commission to commission, working out how to get through the slow times and what to do with the money during the affluent times.  Brian Buffini again, as mentor, has taught me how to do this.  When I first started I was caught up short by the taxes one year.  The last year I was ever caught short, I might add.  Suddenly my good amount of commission was held hostage by April 15th and I had to find that money somehow.  Which I did, thanks to a home equity loan.  But I was lucky to have that.

These days are different.  I still have to buy my own health insurance, but I have managed to find a program that works for me.  Forget dental or vision insurance for now.  The de-stressing I've been doing has helped to keep me from grinding my teeth at night - so it does pay off!  I have dues to the national Realtor board, the local board, and payments for the use of my lockbox key.  I buy my own signs and advertising, but I like that.  I make the choices.  And of course RE/MAX takes a part of each commission.

So when I do have a check, I parcel it out.  Currently 40% gets immediately thrown into savings off the top for taxes and a retirement account.  Another 20% goes into my separate business account to pay for advertising, signs, dues and gifts.  A second 20% goes into our joint account; that pays for our mortgage, household expenses and New York State property and school taxes.  Then 10% goes to that home equity I took out years ago to pay down.  The remaining 10% goes to my checking account, so I can pay for my cars, trips to Manhattan, SU games, health insurance and entertainment.

The tellers love to see me come in with everything sorted out...but nowadays I don't worry about where my tax money will come from in April.  I don't have six months put away for emergencies and I know I need to work on that, but I would rather pay down the HELOC and draw from that if need be.

Overall, I am much happier by far than when I got a regular paycheck and certainly much better off financially.

No More Vacant Homes - A Great Idea

This morning in the Sunday Post-Standard I read with great interest Stephen Kimatian's article in the Opinion section of the paper.  I had had this thought before, but he put it very succinctly and illustrated it with actual facts and a compelling story.

His thesis in "How one effort can help vacant homes, unemployment at the same time" is simple.  Syracuse has an overabundance of vacant houses, just sitting there waiting for help that won't come from the owners, previous or otherwise.  It also has a strong community which dislikes vacancy and works hard.  Combine the two, and you have dozens of "Marios," Kimatian's subject.

Mario bought a vacant house, fixed it up and rented it out.  That went so well he did it again - and again.  To date he has rehabilitated on his own ten houses.  These are now ten houses that not only produce rent for him, but also are on the tax rolls.  Not only that, they have filled a need for families who will round out our workforce in our rapidly developing city.

Mario is an entrepreneur.  He is unlike the entrepreneur who "rented" out the vacant house next to my in-laws.  This person took rent for months until the people found out he had no legal right to rent the house.  The tenants were out money and had to leave the house rapidly.  Not good for them, their kids, or the neighborhood.  So why not allow someone to develop the house?

Kimatian cites figures.  He suggests the houses would cost somewhere around $20,000 and then with money for renovations he projects still a good income for the rent.  Mario now brings in about $60,000 a year - not bad for working on your own, at your own pace, in your own time.  And if he is like investors I know he has learned that doing it right the first time will help to ensure no midnight phone calls from the tenants.

Wouldn't a city filled to capacity with willing and able tenants, houses with lights on inside at night, children going to school and taking advantage of the "Say Yes" program be worth a great deal?  So, Mr. Kimatian - how do we make this happen?

Agent as Tour Guide

When I first started doing real estate in 2001 I was told by a woman who owned a business in town that she used to do it.  She said she stopped because she felt she was a glorified tour guide.  Most of the time no one bought a house through her, but she spent hours showing people the area.

I just spent the last two afternoons being a tour guide - but in this case, a very happy tour guide.  A prospective client came from out-of-state to see Central New York and decide whether to accept a position that had been offered.  My job was to familiarize him with the communities within a few minutes commute and show him a few housing options.

We had a wonderful time, despite the snow (coming in February is tough!).  We wandered the first day from Auburn to Syracuse, took in Skaneateles, Marcellus and Camillus, and went up to the University and over to Destiny.  I saw the area through his eyes, which made it very instructive for me.  He saw new building, especially in Syracuse.  The buildings on campus and in Armory Square convinced him (as well it should) that Syracuse is a thriving and growing community.

On Thursday we saw homes:  a good rental in Auburn (unlisted), and then single families in Camillus.  He saw that the prices were excellent, compared to his current situation, and he had choices.  I got to see homes I wouldn't see on brokers' opens, and re-familiarize myself with the market.

So, yes, I was a tour guide - and I was my best client!

An SU Bit of a Rant

This Saturday at the SU-Georgetown basketball game at the Dome a record number of people will attend the game.  They've managed to squeeze in another few seats to create a new record.  The demand arises from the last Dome appearance for arch rival Georgetown while the two teams are in the rapidly descending Big East conference.  SU leaves next year for the Atlantic Coast Conference.

Ten years ago SU won the NCAA Division I basketball championship with Carmelo Anthony as the star freshman.  He left after one year and has certainly taken the NBA by storm.  There is talk this year of him winning the MVP for bringing the Knicks back to prominence.  He is a star, both for the NBA and our Olympic team.

His jersey will be retired on Saturday at halftime.  I haven't seen official word that he will be at the game, but everyone I talk to says he will.  And the Knicks aren't playing - I checked - so he most likely will be there.  He has also contributed towards the building of the Carmelo Anthony training center on campus.

My rant.  In the rafters where his jersey will come to rest is a banner celebrating the 2003 championship.  Coach Boeheim is featured prominently as are Gerry McNamara (the incredible guard with amazing 3-point ability) and Carmelo.  No one else.  No rest of the team, just these three.

Not right, in my opinion.  The team deserves to be there.

Adding to this is my tendency to like not the stars, but the guys who don't get the adulation.  Currently I like Jerami Grant, a freshman who has great basketball knowledge and is working to pull it all together.  But he's nowhere near a star.  On the 2002-2003 team I loved a sophomore named Hakim Warrick.  Long arms, great blocker, and quiet guy.  The boards featured sayings like "Mac to Hak" when he and Gerry combined.

During the final game as the minutes wore down Hakim had an indelible block that was caught on film.  I bet you could look it up now online.  It virtually assured us the championship.  But his photo - and I stress - the rest of the team - is not on the banner.

So that's my rant.  He and other members of that team will be there Saturday to congratulate Carmelo and be congratulated themselves for their feat.  I just wish it would be acknowledged that a TEAM won the championship, not just a few guys.

Happiness

Yesterday I went over to Grant Ave in Sennett to run some errands.  On the way back I listened to NPR's Talk of the Nation.  Neil Conan had a re-broadcast of an interview with Dan Buettner who wrote Thrive: Finding Happiness the Blue Zones Way.  I was fascinated.

His contention is that there are places on earth in which people are happier than others, and that happiness is in some part a function of what you do and where you live.  Since I was driving, I couldn't take notes.  But as with any project that is heard only auditorily, I grasped at items to remember that meant something to me. So of course I compared our lives in Central New York with his happiness claims.

He cited four cities that were the happiest statistically on each continent.  Singapore was one, and I must admit I didn't pay much attention as to the why, as well as a city in Mexico, I believe.  (Yes, get the book, as will I!)

Denmark (must have been a city attached) was quite happy, even with their 70% tax rate (take that, New York!).  Or actually because of the 70% tax rate.  Everything is done for them - all education through college is paid for, all medical care...the stress level is quite low so therefore the happiness level is quite high.  They also have an equality of class and opportunity.  The highest salaries are not far from the lowest, therefore all people live relatively well without a class struggle.  No mansions vs. shacks, so therefore no envy.

San Luis Obispo was the city in the United States.  As it happens, I drove there on a February break probably 18 years ago, helping a psychologist who was moving there.  I saw "road trip" of the highest order, with an ending for me in San Francisco to see an old friend, and went for it.  But San Luis Obispo, although on the ocean, was not what I had imagined, at least not in February!  Trailers dotted the hillside, stores were sweet and small but mostly closed against the cold wind (but any place can have a bad day!)....Apparently a mayor was elected years ago who went about changing the culture to make it more stress-free - bike paths, community areas, etc. - and it seems to have worked.  The residents exude well-being.

We have a great deal of the elements here in Central New York.  We have short commutes, cited as a huge factor in contentment.  We have access to the outdoors - easy access.  We are close to water which seems to be important on the happiness scale.  Safety is also a prime ingredient.  And frankly, most of these boil down to reduction of stress...and you can find that here, near the water and outside in all weather.

Monday Morning Organization Thoughts

Since I started this whole blog with the idea of describing what life as a Realtor is like in this area, I want to share a bit of how I organize my week.  Or try to.  I spoke with an agent yesterday who was bemoaning the fact that she had to work on Sunday (!) and had wanted to take Monday off but couldn't.  I understand to a point, and I know how it all can overrun the the best of plans, but planning is necessary to conquer "it."  "It" in this case being a career in real estate.

I start off Mondays as "domestic Monday."  I usually have worked Sunday - open houses, people who can only get in on the weekend, etc.  But somehow Monday mornings have turned out to be a good time to get some things done.  I do the bills, do the wash (nice to work at home), and run errands - post office, Kinney's, store sometimes.  The day falls apart rapidly after 10:00, but I can generally get the bills and banking done.

Today is no exception.  The photo is the view out the back of my office (that I call a studio).  It beckons and Sheba and I will certainly walk out sometime today.  But until then I will work through my morning.

Bills and banking, setting the timer for 45 minutes.  When it goes off, I take a five minute break and do the wash.  Good exercise, up and down those stairs!  And a clearing of the head.

Another 45 minute section - the hotsheet, office voicemail check, and then work e-mails.  Then another break, during which these days I eat a banana which is my "coffee break."

From then on it might be errands or continuing onto the e-mails until lunch - but timed, so I don't get lost.  This is a suggestion I got from the Buffini Turning Point last June which has worked tremendously.

And so the timer says my 15 minutes to blog are up - and I will start the day!

The Sometime Update - February 5th through February 17th

After hearing from a couple people that they've been reading my blog, I have felt the guilt for not writing more.  So I will, as I always say.  I need to put in a regular time - but then that time can be swept away by clients because they ALWAYS come first.  Still, I am in the office on a Sunday having written an offer, I do have a fabulous new listing, and I need to step it up a notch.

Without further preamble...There are currently only 74 active listings in the Skaneateles area of the multiple listing service.  That's right - only 74.  We closed many more than that last year, so it means that inventory is WAAAAAAY down.  Of these, 18 are in the Village and another 18 are considered waterfront.

In the under contract category, 19 are waiting to close.  Three new ones were added to the list in the past two weeks, two in the town and one waterfront.  Yes indeedy, waterfront does sell in the winter!  How else can they be ready when summer rolls around?

So far we have 7 closed properties for the year.  Two are new, a Village home that was quite a bargain (in my lowly opinion) and a multi-acre town property.  Once we get to 20 I will publish the list.

Okay - I promise myself  (and you!) 7 more posts by the end of the month!

Skaneateles Real Estate - The Sometime Update (1/17 thru 2/4)

Usually I like to predict what will happen.  I think ahead, weigh some factors, and come up with numbers concerning closings and listings, what will sell and what won't.  It's kind of like when a seller asks me "What do you think our house will sell for?"  I say to him/her that I don't have an answer.  But when it comes to predictions I come up with what I think are answers.  After last year I can't do that, not even in jest.  It was a grand year - and one I hope - but can't predict - gets repeated this year.

I haven't written in a while because as you'll see, not a whole lot has happened.  It's snowed and gotten cold, then we had a day of spring, and it got cold again.  Really cold!  My poor Sheba and Charlie had trouble walking.  Charlie I can carry....Sheba, even with the loss of 20 fat pounds, is not the carrying type.  They both celebrate this week one year of life with us.

Currently there are only 76 active listings in the Skaneateles area of the multiple listing service.  I went back and looked at last year's update around this time - I was loving there being only 91 listings!  The joy of so few listings is that it puts the onus on the buyer.  It's hard when there are so many to choose from, but when there are only a few that fit a person's needs, then the choosing is made much easier.  I think we are back to the days of "Here are the five homes that meet your criteria...please decide on one soon because it may not be here tomorrow."  Because it's winter, that doesn't always play out...but one of my best months when I first started was February.  Buyers had to buy, and so they did.

Carrying this through, 18 are in the Village and 20 are waterfront.  Both numbers are usually within a few digits of each other, and so it is again, even with the numbers so low.  I can assure you that people are looking...I have walked in to Ten Mile Point five times since the beginning of the year.

Six new homes have come on the market...actually all six are re-lists.  All, most with a reduced price.  People are looking for deals, and some of these are definitely itching to be sold.

Five have moved into the under contract categories.  All except one have been on the market a while - again, people are looking a finding deals.  One came on and was snapped up - the price was literally "let's get it gone."  And it was, within days.

We also have our first closings.  Five - ranging from down the lake "country" to 2 in the Village, then also a bank-owned property and a gorgeous estate.  It is hard to characterize and appraise our homes in Skaneateles - they are so unique.  Five is a great number, just one less from last year's "6" at this time.  Compare that to 2011 when there were only two closings, and 2010 when there were none.

I said I wouldn't predict...but this is going to be another great year!