Saturday, December 22, 2007
Funny how you'd think that the end-of-year holiday season would settle home buyers down a bit. Not really. Right before I am scheduled to leave, I get a rush of activity from clients. Some are suddenly re-interested, others are are making more of an effort to see properties. I think that the holiday has two effects on people buying or selling; 1. They have a vacation and the last thing they want to do is be poked and prodded to buy property. Or, 2, they have a vacation and they finally have the time to be poked and prodded to purchase property.
I guess the Ithaca real estate market is like that. We don't conform to other "market norms". Just look at the article written in the NY Times last month regarding Ithaca's standing as having the lowest sub-prime mortgage foreclosure rate in the country.
I have attached a link to a great resource for you as you consider
whether/how/when, etc. to remodel your home.
Thursday, December 20, 2007
Wednesday, December 19, 2007
Wednesday, October 3, 2007
Monday, October 1, 2007
However, to date, I have been a total puss and haven't pulled the trigger. It is scary as hell. What if I f-it up? it doesn't sell, whatever?!?!?
I have begun the process of pricing out what it could cost.
The house in question is a 1930's Palladian Style house that is very well kept and remains unsold in a very nice neighborhood. I am baffled that it is not sold yet. What could be wrong? It is crappy on the outside, vacant and dated on the inside and very, very spacious.
Is my thinking so far off on this?
It is an all brick house that is huge, burley, and imposing. Its character is undeniable.
I need to consider some more......................................
Thursday, September 27, 2007
I'm calling it the Yahoo affect.
It's when a potential customer reads an article online about the national real estate market, rate increases, fed comments, and a housing bubble and assume that it pertains to their area. This is not necessarily the case.
You rarely, if ever, come across an article talking about local market conditions. Not all markets had a meteoric rise in home prices. Many were steady and honest (for lack of a better way to put it) - like Ithaca.
The market I am in, Ithaca NY, is thriving. We have had steady growth and development, not the overheated market like say, Boston.
Its too bad. But this is the way the market works - i guess.
Saturday, September 22, 2007
5 Ways To Sell Your House Faster
5. Clear the clutter out of your home. Your ceramic lion's head that you got from Tijuana while on a family vacation is roaring in the front entranceway. Prospective buyers don't want to see that
4. Hire a Full-Time Real Estate Agent to handle the sale of your home. When you use a full-time real estate professional ( I emphasize full-time) you increase your chances of selling your home at the highest price in the shortest amount of time.
3. Landscape. Spend a weekend or two to landscape and "pretty-up" your exterior. You'll get more for it.
2. Don't be home when the agent(s) come by to show your home to prospective buyers. You'll sell it faster.
Friday, May 18, 2007
Ray Tonjes, Chair of the NAHB of the Green Building Subcommittee, made this statement,
"Voluntary, market-driven green building standards are preferable to mandates, which can reduce the incentive and the market pressure to adapt and to change," said Tonjes. "NAHB members have proven that a voluntary, region-specific, flexible program can be both truly green and also allow for innovation."
Wednesday, May 16, 2007
Below is an excerpt from our Office Manager at Audrey Edelman RealtyUSA, in an article written about the current status of Ithaca's spring market.
I feel this is really well written and accurate.
THE SRING REAL ESTATE MARKET
This is the time of year when everyone asks, “How’s the market?” The
Breaking down the statistics further, some changes in the market do become evident. In a market area the size of
As the number of listings increases, it becomes very important for properties to be positioned in the marketplace with competitive terms. The greatest flurry of showing activity usually occurs in the first few weeks after a property is listed. A property that is overpriced is likely to spend more time on the market, resulting in lost sales opportunities.
While inventory is increasing, there continues to be a steady growth in the median and average sales prices. This is a sign of a continuing strong market. While multiple offers may have diminished this spring from the past few years, they are still occurring, usually on properties in the “affordable” price ranges or on sought-after properties such as lake homes. Historically, low interest rates makes homes in all price ranges more obtainable.
This steady increase in sales prices is causing a shortage of affordable homes in and close to the City of
While affordable housing is becoming harder to find, the growth of new construction in the $350,000 to $650,000 price range continues at a moderate pace. Most of this new construction has been in the areas offering lots with municipal services in newer subdivisions in the Town of
Jean McPheeters, Director of the Tompkins County Chamber of Commerce, has stated that the Chamber receives many calls asking for information on “upscale condos with a lake view.” Several developments, with and without the view, are either ready to start construction or being planned. One in particular is offering “loft-style” living.
All in all, we have a vibrant community to call home and a varied housing market with steady appreciation, making real estate a solid investment choice.
This article was submitted by Richard Patterson, General Manager of Audrey Edelman & Associates RealtyUSA. Statistics are based on sales data of the Ithaca Board of Realtors, Inc.