First let me say Mirbeau is marvelous, a real gift to the area. The luncheon was held in a small room, large enough for just three tables and a presentation table. I asked Sue if I would know anyone, and she said "about half." What she didn't say is that three Realtors from Williams, two from Finger Lakes Partners, three more from RealtyUSA were the "half." Hah! And one of the presenters was from John Arquette, a young woman I've known through her father for a few years,
Lunch - salad with goat cheese, carmelized walnuts, blueberries...braised beef over potatoes (both were so smooth I wasn't sure which was which), then a slim piece of chocolate cake that kept me buzzed for several hours afterwards. Sublime!
The young Realtor, Leslie Chave, spoke about the reasons people come to Skaneateles and the reasons they don't. (Basically she stole my thunder, but did it very eloquently.) She shared a comparison of two houses, one in Skaneateles for $329,000 and another in Manlius for $279,000. It is difficult for new buyers to afford these, she asserted, but went on to say that she loved Skaneateles and felt it had a great deal to offer (as it does.) She said young people who have returned to the area have formed a group to promote Skaneateles. "Skaneateles is a great place to visit, and a great place to live!" (I paraphrase.)
Ron Miller, the Assessor, spoke about the statistics. Our homes are generally older and more unique. The average price is $271,000 (or so.) He compared the tax rates of the different areas with of course poor old Elbridge coming out sadly high, while Skaneateles is the lowest in the county, a little known fact. (More thunder-stealing.)
My turn. As I got up, Kathy Walton from RealtyUSA knew my plight and said "just affirm what they said." So I did, adding the piece about how a comparably-priced home in Skaneateles when mortgaged has a smaller monthly payment. I showed two homes at $175,000 - in Skaneateles, the payment is $176 less than Camillus. That matters to first time home-buyers. (Thanks to Carol Alger at Paragon Home Loans for the comparisions.)
All in all, an interesting lunch. Kathy Pastel, interim Superintendent for Skaneateles Schools, said that we need younger families to round out our aging population. The graduating class this year will be 140. The entering kindergarten class at this point is only 81. Yikes!
So I think I will continue to attend these gatherings, just because it's a good way to connect. The next meeting is at Anyela's - even more reason to go!
Speaking of "going"'...." Go Orange!
Friday, March 15, 2013
Tuesday, March 12, 2013
Chamber Presentation on Thursday
The monthly meeting of the Skaneateles Chamber will be on the 14th at Mirbeau. Since this meeting will focus on real estate, Sue Dove has brought together people who know about it. I am speaking about the market and why people would buy in Skaneateles. I also want to add why people don't buy here. I am alotted only about 10 minutes, but I thought I'd write out my thoughts here and then refine them for my brief talk.
First of all, the market has been excellent the past twelve or so months. Two and three years ago in March there were 104 single family homes on the market. Now there are only 73. Those years we had seven closings - this year we have 11, year-to-date. Those are significant numbers. Fewer homes lead to less time on the market.
Who buys here? First of all, waterfront is always strong and the primary reason for about a third of the homes sold each year. There are now more homes to be sold, plus lots for building. More camps and lake houses are available as the population ages or investors move on.
The people who buy in the town portion - and I look at all the homes in the Skaneateles School District as contributing to the health and wealth of Skaneateles - are looking for land. They want acres for their children to play. Most of my sales have been to people who know the area and want to upgrade their current homes. Often they came because of a job - WelchAllyn primarily, but the other companies in either Syracuse or Auburn contribute buyers too. They are families who want the school district.
The people who buy in the Village may also have families, but more and more I am seeing retirees picking up homes. The Village is an excellent place to retire, and more should be done to promote it as such. It is safe, quiet, off the beaten track, a destination unto itself. Electric is low, off-setting the village tax. There is no condo fee and the homes are different, not tract homes. Walkability is a huge factor for communities, and Skaneateles has some of the most walkable streets in the country. My friends who have moved here love the idea that they can go to dinner at the Sherwood and walk home.
There are misconceptions out there about Skaneateles. The one I hear most is that Skaneateles is too expensive. I will ask this at the meeting - how many homes closed in Skaneateles in the past 12 months that were listed under $200,000? If you read this blog, you would know - 30 homes is the answer. That's about a quarter of the homes sold during that time period.
I am putting together a handout to demonstrate that Skaneateles homes priced under $200,000 are actually less expensive than a Camillus home of the same price. And both are less expensive than the hard-to-find single family rental. The reason? A much lower tax rate. If a house cost $175,000 in Skaneateles, with a 10% down payment, the monthly payment would be $1,225. In Camillus, that payment would be $1,500 because taxes are that much higher.
The second misconception that people have who have lived around here is that Skaneateles is so far away from everything. As we all know, Syracuse is half an hour away, the airport 40 minutes, and Auburn only over a few hills. How many times have people shown up early, planning for a longer drive to your house? But for people moving in from out of the area, these commutes are miraculous to them. They ask to see everything within an hour's drive, and realize they can find it only fifteen minutes away.
The third misconception is that Skaneateles is filled with the Country Club set, and there is no place for "ordinary" people. Not true, as we all know. It was only a few years ago that there were mobile homes on Genesee Street. There is a definite lower economic range represented in the schools and the area. Those $200,000 homes could be purchased by middle class families.
We do have a lack of diversity. Although that has changed in the past decade, mostly thanks to WelchAllyn, we have not created enough of a perception of acceptance of diversity. This is not my area of expertise; I can only report what I hear from people who move into Central New York.
We have a great waterfront community, town and Village. It is affordable, within easy commuting distances, accessible for walking, and lovely. It works for diverse groups - grandmothers as well as first time homebuyers, single people and businessmen. We just need to get the word out!
First of all, the market has been excellent the past twelve or so months. Two and three years ago in March there were 104 single family homes on the market. Now there are only 73. Those years we had seven closings - this year we have 11, year-to-date. Those are significant numbers. Fewer homes lead to less time on the market.
Who buys here? First of all, waterfront is always strong and the primary reason for about a third of the homes sold each year. There are now more homes to be sold, plus lots for building. More camps and lake houses are available as the population ages or investors move on.
The people who buy in the town portion - and I look at all the homes in the Skaneateles School District as contributing to the health and wealth of Skaneateles - are looking for land. They want acres for their children to play. Most of my sales have been to people who know the area and want to upgrade their current homes. Often they came because of a job - WelchAllyn primarily, but the other companies in either Syracuse or Auburn contribute buyers too. They are families who want the school district.
The people who buy in the Village may also have families, but more and more I am seeing retirees picking up homes. The Village is an excellent place to retire, and more should be done to promote it as such. It is safe, quiet, off the beaten track, a destination unto itself. Electric is low, off-setting the village tax. There is no condo fee and the homes are different, not tract homes. Walkability is a huge factor for communities, and Skaneateles has some of the most walkable streets in the country. My friends who have moved here love the idea that they can go to dinner at the Sherwood and walk home.
There are misconceptions out there about Skaneateles. The one I hear most is that Skaneateles is too expensive. I will ask this at the meeting - how many homes closed in Skaneateles in the past 12 months that were listed under $200,000? If you read this blog, you would know - 30 homes is the answer. That's about a quarter of the homes sold during that time period.
I am putting together a handout to demonstrate that Skaneateles homes priced under $200,000 are actually less expensive than a Camillus home of the same price. And both are less expensive than the hard-to-find single family rental. The reason? A much lower tax rate. If a house cost $175,000 in Skaneateles, with a 10% down payment, the monthly payment would be $1,225. In Camillus, that payment would be $1,500 because taxes are that much higher.
The second misconception that people have who have lived around here is that Skaneateles is so far away from everything. As we all know, Syracuse is half an hour away, the airport 40 minutes, and Auburn only over a few hills. How many times have people shown up early, planning for a longer drive to your house? But for people moving in from out of the area, these commutes are miraculous to them. They ask to see everything within an hour's drive, and realize they can find it only fifteen minutes away.
The third misconception is that Skaneateles is filled with the Country Club set, and there is no place for "ordinary" people. Not true, as we all know. It was only a few years ago that there were mobile homes on Genesee Street. There is a definite lower economic range represented in the schools and the area. Those $200,000 homes could be purchased by middle class families.
We do have a lack of diversity. Although that has changed in the past decade, mostly thanks to WelchAllyn, we have not created enough of a perception of acceptance of diversity. This is not my area of expertise; I can only report what I hear from people who move into Central New York.
We have a great waterfront community, town and Village. It is affordable, within easy commuting distances, accessible for walking, and lovely. It works for diverse groups - grandmothers as well as first time homebuyers, single people and businessmen. We just need to get the word out!
Saturday, March 9, 2013
Open House Alert - 5935 Fikes Road
This may be your one chance to see this amazing property. We have had a great deal of activity on it, and are expecting an offer. But come and see it tomorrow, Sunday the 10th, from 1:00 until 3:00.
The MLS number is S285950, so you can look it up and see all the photos. There were so many photos to take! The most difficult one was of the house and the barn/garage/outbuilding. The two buildings stretch across the skyline. Having them both contributes to this great place, but add in almost 11 acres of meadows and orchards...my, my!
Come and see it if you can. Always I have refreshments of some kind and the day promises to be uncharacteristically warm. Again those photos - the rare snowstorm came up! It may not still be active in the spring, but it will certainly be even more beautiful.
The basics: 3 BR, 2 full baths, built in 1998 by Mark Harrington, just finished basement and new granite and tile in the kitchen. $284,900
Fikes is off Route 5 before you get to Elbridge if you are coming from Syracuse (making it an easy hop onto 695...) Less than a couple miles up Fikes, then up the hill to the house.
Please tell me you read this blog - I will love it!
The MLS number is S285950, so you can look it up and see all the photos. There were so many photos to take! The most difficult one was of the house and the barn/garage/outbuilding. The two buildings stretch across the skyline. Having them both contributes to this great place, but add in almost 11 acres of meadows and orchards...my, my!
Come and see it if you can. Always I have refreshments of some kind and the day promises to be uncharacteristically warm. Again those photos - the rare snowstorm came up! It may not still be active in the spring, but it will certainly be even more beautiful.
Fikes is off Route 5 before you get to Elbridge if you are coming from Syracuse (making it an easy hop onto 695...) Less than a couple miles up Fikes, then up the hill to the house.
Please tell me you read this blog - I will love it!
Thursday, March 7, 2013
Skaneateles Real Estate - The Sometime Update (February 18th to March 5th)
Things are getting crazy out there! Properties are being shown and sold! Hooray! The spring season has begun!
Currently there are only 73 single family properties listed as active in the Skaneateles area of the multiple listing system. Of these, 18 are in the Village and 16 are waterfront.
Two new houses came on the market within this time frame, while a few others were freshened with re-listing. One of the new ones is in the Village and the other is in the Town (aka not in the Village). Both are listed for almost the same price, under $300,000.
Only 16 homes are waiting to be closed. Three were added to the list, two of them from the Village and the third from the Town.
We now have 10 sold and closed properties, year-to-date. Trending like last year, the three new closings were all Village and ranged from the mid-$100,000s to almost a million.
I think we are going to have a fantastic year, if not in volume like last year, but in a return to the old
"if you snooze, you lose" way of doing business. You can't afford to look at 10 different properties (if there even were 10 that meet your criteria!) and think about it. Getting a pre-approval is even more important with this type of market (dare I say sellers' market?) Knowing what you can buy and that you can buy, plus having that piece of paper from a qualified mortgage lender will get your offer accepted long before another offer. Make the call today, then go online at REMAX.com and call your agent. No time to waste!
Currently there are only 73 single family properties listed as active in the Skaneateles area of the multiple listing system. Of these, 18 are in the Village and 16 are waterfront.
Two new houses came on the market within this time frame, while a few others were freshened with re-listing. One of the new ones is in the Village and the other is in the Town (aka not in the Village). Both are listed for almost the same price, under $300,000.
Only 16 homes are waiting to be closed. Three were added to the list, two of them from the Village and the third from the Town.
We now have 10 sold and closed properties, year-to-date. Trending like last year, the three new closings were all Village and ranged from the mid-$100,000s to almost a million.
I think we are going to have a fantastic year, if not in volume like last year, but in a return to the old
"if you snooze, you lose" way of doing business. You can't afford to look at 10 different properties (if there even were 10 that meet your criteria!) and think about it. Getting a pre-approval is even more important with this type of market (dare I say sellers' market?) Knowing what you can buy and that you can buy, plus having that piece of paper from a qualified mortgage lender will get your offer accepted long before another offer. Make the call today, then go online at REMAX.com and call your agent. No time to waste!
Sunday, March 3, 2013
The Open House at 115 Raspberry
It's been a while since I've done an open house, winter being what it was and the choice of my sellers NOT to have open houses during this season. But I was pleasantly surprised at how many people came out today in really cold weather.
I always learn a lot about a house by holding it open to the public. It's interesting to see what the buyers key in on...the agents wanted a family room instead of another eating area, and we provided that by changing the furniture around. There were no comments today about it, except a few people who really liked the coziness of it.
The carpets had been steamed and stretched and looked wonderful. I highly recommend doing that for all homes that have wall to wall carpeting. They did look new! So new in fact, that I found people teetering on the edge of the living room, not wanting to step on the pristine white carpeting! Myself included!
I spent some of the time as people roamed around sitting by the fire in the family room, admiring the pretty white crown molding against the Cape Cod blue walls. (Please see the photo below.) Lo and behold a prospective buyer showed up almost in the same blue with Cape Cod on his sweatshirt! Moments like that are fun...
The flow was great - people in and around and almost done and then another group would come. Busy all the time. The sellers left candies around with "welcome to our home" signs. Very charming.
And the house was de-cluttered to the max! People were impressed, and stated that. While most in this price range - $319,000 - had homes to sell, they wondered if they could get their home as immaculate and well-organized. I assured them they could, and that it was a process to be developed over time.
A good day!
I always learn a lot about a house by holding it open to the public. It's interesting to see what the buyers key in on...the agents wanted a family room instead of another eating area, and we provided that by changing the furniture around. There were no comments today about it, except a few people who really liked the coziness of it.
The carpets had been steamed and stretched and looked wonderful. I highly recommend doing that for all homes that have wall to wall carpeting. They did look new! So new in fact, that I found people teetering on the edge of the living room, not wanting to step on the pristine white carpeting! Myself included!
I spent some of the time as people roamed around sitting by the fire in the family room, admiring the pretty white crown molding against the Cape Cod blue walls. (Please see the photo below.) Lo and behold a prospective buyer showed up almost in the same blue with Cape Cod on his sweatshirt! Moments like that are fun...
The flow was great - people in and around and almost done and then another group would come. Busy all the time. The sellers left candies around with "welcome to our home" signs. Very charming.
And the house was de-cluttered to the max! People were impressed, and stated that. While most in this price range - $319,000 - had homes to sell, they wondered if they could get their home as immaculate and well-organized. I assured them they could, and that it was a process to be developed over time.
Wednesday, February 27, 2013
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!
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!
Tuesday, February 26, 2013
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.
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.
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