kaulat

I have been working to explain seller concessions recently.  Those are the pesky dollars added on to a purchase offer to help the buyer with little cash to finance a house.  They are limited - 3%, I believe, for a conventional mortgage and 6% for an FHA mortgage.  This means that if the purchase offer is $207,000 and the concessions are $7,000 then the seller will net $200,000.  The $7,000 will go back to paying the costs by the buyer of buying the house:  appraisal fees, escrow, attorney's fees and others spelled out in the contract.  The seller never sees the $7,000 - and neither does the buyer, usually, with the expenditure automatic at closing.  This is a difficult concept, stumping other agents sometimes and certainly confusing sales.  The first page of the contract says one number, i.e. $106,000 for an FHA loan and the second page says the $6,000 is going away.  And then because the higher number is financing the deal, that is both the ...

We went to the Doubledays' game on Thursday night.  It was one of the 95 degree days, with brilliant sunshine so you knew the evening would be hot and warm.  What Fields of Dreams are made of. And it was an extraordinarily beautiful night.  Falcon Park in Auburn is right out of a Norman Rockwell painting.  The young men who play may some day make it to the majors, but most likely will not.  They play for pride, I would imagine.  That, and nights like last Thursday when it all comes together. It was dollar night.  I got a hot dog for a dollar, and a beer (or two) for a dollar.  Admission was $6.  Parking is free, and right across the street.  No reserved seating - box seats (a few rows) and general admission.  It wasn't packed, so we could spread out and easily see the field a few feet away. Our friend Tammy came with us, rather spur of the moment.  She regaled us with tales of going to a Mets game.  She said the ballpark w...

As I alluded to in my last post, I went to a conference called the Turning Point given by Buffini and Company at the Hyatt on Long Island.  I was able to spend Father's Day with Alex, Rachel and Liam in Manhattan (we picnicked in Schurz Park) and then drive out to the hotel.  I had been looking forward to this event for a very long time. I had seen Brian Buffini in Vegas at the RE/MAX convention years ago.  I think it was 2007.  I came back ready to go and that's when I started my blog.  So I like the way that spawned a new beginning and hopefully Turning Point, at the 500th blog, has started another chapter in my career. I have always liked the philosophy that Buffini espouses:  real estate success is formed by relationships, not "one and done" fly-by listings and sales.  As I've said before, my clients become friends or acquaintances, people I enjoy meeting on the street or having lunch with.  I have been in business for 11 years almost, and the...

The last blog I wrote turned out to be the 500th published blog.  Five hundred.  I would bet that the largest portion was the update - whether weekly, bi-monthly, the Wedding Edition.  I have enjoyed the process but like most writers I know the "sitting down to it" is the hardest part.  But 500 times I did. And what that has gained me is an insight into the Skaneateles market that comes readily when asked.  I was at a conference the past two days on Long Island and most of the Realtors I spoke with had never heard of Skaneateles.  Amazing to me.  But I remember when Rachel and Alex wanted a destination wedding and they chose Skaneateles and the Sherwood Inn, a vast majority of her downstate family and friends had no clue where the Finger Lakes were, much less Skaneateles.  But the agents politely asked me about the market - sales, average prices, trends....and the words came swimmingly off my tongue.  Of course the conference was in part abou...

I came to the rather brilliant conclusion, way overdue, that buying a house is not like buying a car.  I have had and will continue to have buyers who want specific criteria in a home.  Some want village, and village only.  Others want a view of the lake or waterfront that is cleared and easily accessible.  I had my stream people a few years ago who wanted to fish but also had a budget.  Homes can be changed, I think, to a certain extent.  Locations can't.  When I bought my Fiat convertible recently I had several choices - red, black, black with red interior - and except for varying delivery dates and promotions I could have gotten it in March or September - virtually the same car.  Not so with houses.  Once that house has gone, especially in Skaneateles, it doesn't come around again in six months (usually).  The rates are so low that adding another $10,000 or so to get the house that the buyer specifically wants does not add a great dea...

I just got back from an afternoon of driving around.  First I went to meet the owners of 1650 Coon Hill which will be open on Sunday from 2:00 until 4:00.  We talked drainage - they have a great system they installed a few years ago - and wells.  The pump went on and off, giving the impression that there was sometimes a lag in the water pressure.  A plumber put in a new valve and all is well - consistent excellent pressure, just in time for the open house.  Then on to 169 Garrow Street Extension to put up the Open Sunday sign.  That will be open from 11:00 to 1:00 in Auburn.  My favorite part of the house is the private stone patio on the side. Afterwards I stopped at Panera Bread.  I got a gift card for Rachel because she's so excited that Panera Bread is opening in her Manhattan neighborhood.  I also got one for Jolanta who has been recovering from rotator cuff surgery.  Nice to do... And of course since I was there I indulged in a fru...

Yesterday I attended an all-day class for continuing education sponsored by the Cayuga Board of Realtors at the Holiday Inn in Auburn.  About 50 Realtors were in attendance;  I had expected more from Skaneateles but saw only Tom, Suzanne and Romy.  It was a great place to hold it - the Holiday Inn was most accommodating with a full breakfast (bacon!) prior to the class and then lunch.  The room was pleasant - not too cold and not too warm for once.  And they asked about the temperature!  Most importantly, Auburn is so close.  Usually we trek up to North Syracuse and need to allow a good 40 minutes each way.  Makes for a long day. Radon.  The presentation was sponsored by Rutgers University.  The instructor was a radon expert and currently a mitigator and tester.  I must say I learned a lot - actually I learned too much to remember it all, but there was great information that I am sure will arise in conversation in the future.  ...

So - a bit later than usual, but with all the crises in real estate....Can there be crises?  Yes - end of month closings - will it close or won't it?  Where the heck did that appraiser go?  What do you mean you got another offer?  We have pre-possession - don't make us move!  We want pre-possession....  The glass man will see you now - and I mean NOW!  Yikes!  In New York it takes a collective team to move along a closing - Buyers, Sellers, 3 attorneys usually, appraisers, inspectors, mortgage people (who have their own team), and yes, the Realtors who try to pull it all together.  That's my excuse.  Crises, not of my making. Currently (and this is Wednesday to Wednesday) there are 108 active single family homes listed in the Skaneateles area of the multiple listing service.  Of these 30 are in the village and 28 are waterfront.  I looked a bit closer at the numbers and thought these statistics were of interest. The median pr...