Owner: The Scoop on Rochester Real Estate URL:http://rochrealestate.blogspot.com/ Join Date: Thu, 27 Sep 2007 10:10:28 -0500 Rating:0 Site Description: All things real estate in Rochester, New York. News, market reports, trends, funny stories, neighborhood tours and more. Site statistics:Click here
First Time Homeowner Assistance 2007-09-24 10:59:00 Last week the local real estate board hosted a real estate agent fair. Imagine this! Hundreds of licensed agents all under the same roof at the same time. Generally, I enjoy the fair because it's an opportunity to learn what is new in the market place. This year's event seemed rather bland. Most of the exhibitors were banks and mortgages companies and their message, loud and clear, was we're still in business.I did pick up some updated information about the Monroe County Homeownership Program. It is a program created by Catholic Charities and includes education and financial assistance for individual and families with limited income. The organization provides credit repair and budgeting counseling as well as a match savings program. For more information, give me a call at 585-756-7457 or an e-mail. Read more:First
, First Time
It's Busy Out There 2007-09-19 11:23:00 My goal is to write here three times a week. I'm not doing so well at that. It's tough to be bright and witty when I'm struggling with grief and sorrow. But I'm getting a little better everyday.I've buried myself into my work. Since I returned home, I've shown at least 25 properties, written 3 offers and received two offers on my listings. Lots of negotiations going on! I think it is a mad rush for Western New Yorkers to get settled before the snow starts flying. I'll write again soon. I promise!
I'm back! 2007-09-15 21:54:00 My younger sister passed away this week after a long illness. I spent as much time with her as the Wake Forest Baptist Hospital ICU rules would allow. I think it was the most difficult week of my life. I'm back to work now. It is the greatest distraction of all times.
It's All About Timing 2007-09-03 07:54:00 I often tell my clients that the closing date on a purchase contract is much like a baby's due date. Not very many babies come into the world on their due date and not many houses close on the exact date in the contract. "If you have to pick a perfect moving day, what would it be?" is generally how I start a discussion with a new client. And from there we try to put together a game plan that will accomplish their real estate agenda as close to the target date as possible. There are a lot of variables that come into play and it often gets complicated and unnerving. A current client of mine suggested that I address this topic in my blog and so here goes. Please keep in mind that there are no steadfast rules for real estate timing.Usually the simplest transaction is a renter purchasing a single family home. Of course the first objective is to find a house. Some buyers will find them the first day out, but more likely buyers can plan on 2 to 3 weeks or more to locate the home of their dra Read more:Timing
Home Again 2007-08-28 06:59:00 A few days off is a wonderful thing! Especially for your frame of mind. I realized I was getting punchy before I left and was having a difficult time finding anything I liked about real estate! The couple of days home in Maryland were wonderful. We played golf in 100 degree temps (which wasn't so wonderful) but drank beer to cool off. I also played with my camera a lot and shot some cool hummingbird photos.I'm refreshed and ready to go. Read more:Again
The Sky is Falling! The Sky is Falling! 2007-08-22 21:02:00 Every time I catch a news report I get this sinking feeling in my gut. This bank has closed its doors. That mortgage company is failing. Doom and Gloom! Lions, Tigers and Bears, Oh My!Is it really that bad? I talked to my favorite loan officer today and he assured me that the only thing shaky is non-conforming loans. Bottom line is that if you have decent credit and some money to put down, you are golden! I sure wish someone would explain that to the press.I'm headed out of town for a few day's vacation. It's been a busy summer and I can count my days off on one hand.
Relocating to Rochester 2007-08-21 21:52:00 It's been 19 years since I relocated to Rochester
, NY from Laurel, Maryland (same town as Rochester's current police chief!) To me, it was huge! I was in my early 30's and had never lived outside of the state of Maryland. I remember being here about a month and one day simply breaking down and crying. I was so tired of being lost and among unfamiliar surroundings and people. Obviously, I got over the homesickness, and learned to love Rochester.This past week, many memories of relocating came back to me as I helped a new client buy his first home in anticipation of moving to Rochester this fall to take a job with the University of Rochester. My contact with him started with an e-mail in which he inquired about one of my listings that had already sold. I offered to e-mail him some similar properties that were on the market and from there, we began to correspond several times a day.I encouraged him to come to Rochester to spend a day looking at houses and becoming familiar with the dif
Mortgage Crisis is Hitting Home 2007-08-16 20:28:00 I had to make one of those God-awful real estate calls yesterday. I had to tell a family to stop packing because the deal on their home was unraveling. It seems that the buyer of their buyer's home no longer qualifies for a mortgage and since his contract on our house was contingent on the sale of his home, the deal is dieing. No fun!And then I got another awful calls this morning that things are not looking good for a purchase for a buyer client. They have mortgage commitment and are awaiting clear-to-close on a non-income verification loan. All the rules have suddenly changed and now they need 20% down instead of 10. That's an extra $16,000. I don't know about you, but I don't have that kind of cash sitting around waiting for a bank to suddenly change the rules. And in the past week or so, I've had two different buyers ask for my advice on private mortgages because the banks won't currently consider them under the current strict guidelines. Private lenders are looking for Read more:Mortgage
, Crisis
, Hitting
Nothing's Slick Right Now 2007-08-15 09:14:00 It seems like real estate is meaner than ever these days. Buyers and sellers bickering over little stuff (like the cost of a broken window) as well as big stuff (who pays the bill for the new sewer line?). Nobody wants to agree to pre-possession or post-possession which means everyone needs to live in a moving van while all parties are at attorney offices conducting the closing procedures! (Rather insane, isn't it?) A neighbor refuses to sign a fence agreement because they don't give a damn if the property closes! I could go on and on, but I think you get the picture. Speaking of picture, I did luck into this butterfly yesterday that was fluttering around a garden in Rush. It was the best part of my day. Hopefully I can keep this image in mind as I take irate phone call after phone call! Read more:Nothing
, Slick
, Right
Where Was This Guy When I Needed Him? 2007-08-09 18:34:00 Have you seen these billboards around town? We Buy Ugly Houses.com! A real estate agents dream come true!Like most agents, when I first started in the business and didn't have much experience, it seemed like I could only get listings that no one else wanted. Believe me, I've sold my fair share of ugly houses. Now, people actually call me to sell their house and usually they are pretty nice. Just when I don't have any ugly houses to sell, this guy's ugly mug is all over town offering to buy ugly house. Dumb luck, isn't it?
Frequent Misconception! 2007-08-07 20:43:00 A client of my recently sent an e-mail to me about a mistake I made. As he reviewed the fine print in the contract to sell his home, he saw that he would be paying the commission for the buyer of his home."I've always been under the impression that the buyer paid for the buyer's agent--hence their being representing the buyer and the buyer's interest. If I'm paying for the buyer's agent, shouldn't that person be working for me rather than the buyer," his e-mail asked.And then this week, I got an e-mail from someone who will be visiting from New Jersey this weekend to look for a new home before she starts her new job at the U of R. "Sorry I didn't ask before, but what is the fee you charge for taking me out to look at houses," she asked?I am so immersed in real estate, that I had forgotten just how confusing this can be. It was no mistake. It is customary for the seller to pay commission for both the buyer's agent and the seller's agent, even though the buyer's agent works fo
Something to Churp About! 2007-08-04 06:56:00 It's been busy! Five sales in ten days has had me running. I was so preoccupied with my next appointment that I almost didn't see the tiny, almost-naked baby bird laying on the ground next to my back door. So I scooped him up, made him a bed out of a candy dish and started feeding him soggy dog food. With a full belly, he snuggled up and went fast asleep. And since it was August 1st, I decided to name him August, which just happed to be the middle name of my grandfather, father and brother, all long gone.August seems to be thriving. Yesterday we moved him from the candy dish to a shoe box and this morning he learned to walk. Maybe it's more of a crawl. One of his legs isn't working correct or perhaps he has gotten so fat from the dog food that he just can't hold himself up. Time will tell. His favorite spot seems to be curled up in the palm of my hand.
Happy August! 2007-08-01 09:56:00 Just in case you don't have air conditioning, I thought I share with you this shot of my husband from last February and a reminder to not complain about the heat because the snow will be flying soon! Read more:Happy
, August
SOLD - First Day on the Market! 2007-07-30 05:59:00 I've not been able to say those sweet words in a while! Sold: First
Day on the Market
. It sounds so good. I could say it over and over, but won't.The secret to my success? Don't tell anyone but it is great homeowners. The home was spotless clean, attractively decorated and they listed it at a fair price. The sellers had one request. Try to avoid showings during nap time. So we signed all the papers, took photos and put it on the market. A few hours later, we get a phone call and guess what? They wanted to see it right in the middle of nap time. The sellers said OK, but please whisper, and the rest is history. The Rochester, NY real estate market is slow compared to recent years. But if your home is clean, well maintained and priced right, it should sell rather quickly. Read more:First Day
Market Report - Finger Lakes Water Front Property 2007-07-22 11:12:00 According to today's Democrat and Chronicle, the demand for waterfront property is bigger than ever and prices on the Finger Lakes
are going up. (See article http://www.democratandchronicle.com/apps/pbcs.dll/article?AID=/20070722/NEWS01/707220326/1002/NEWS ) I was on a couple of the Finger Lakes yesterday, and there seemed to be more 'for sale' signs than ever. So I dabbled in the MLS for a while this morning, and here is what I found:Keuka Lake: Just three years ago, if something popped on the market, there was a mad dash to be the first to show it. Otherwise, it might be sold. Today, there are 66 properties on the market, with prices that range from $137,900 (actually not lake front - 3 feet of lake access and the private remarks note: Path to lake is a joyous adventure, good shoes and agility required!) to $1,650,000. To peak at current property on the market, go to : Customer Full Report Canandaigua Lake: Here is where the D&C article was right on. They reported this was the mos Read more:Market
, Front
There is a Bunch of Weirdness Going On 2007-07-22 07:49:00 I've done my part in the past ten days or so to make rich oil executives richer. My real estate business has taken me on numerous road trips that have included Bethany, several trips to LeRoy, Mt. Morris, a couple times around Conesus Lake and one trip to Honeoye Lake. I'm getting to know Avon very well, as well as Scottsville and Caledonia. I've been all over the city of Rochester and surrounding suburbs. It's been such a whirlwind there were a couple of times I could not remember where I was the day before. I shutter to think what my gasoline bill will be this month.Anyway, there has also been a lot of wheeling and dealing going on and it has included a bunch of strange stuff. For example, I have buyers that put an offer in on a nice property that's been on the market all summer. They offered a purchase price that was 97% of asking, which was pretty fair since the property had been on the market about 80 days. They came back with a counter that was almost full price which was Read more:Bunch
, Weirdness
, Going
This is For Lisa! 2007-07-15 22:06:00 Lisa keeps encouraging me to keep taking photos, especially of flowers. This is my new favorite flower photo. (Say that a bunch of times real fast)
Your Insurance Is Canceled 2007-07-15 13:32:00 In late May, my husband and I became the proud owners of a two bedroom home in the South Wedge in Rochester, NY. We never planned to become landlords but in an effort to help a family member that needed a place to live, we put an offer in on this small house the first day it came on the market. Eight weeks later, we handed over a very big check and then the family members decided Rochester, NY was not the place they wanted to call home. Oh well!So we put out a for rent sign, got a ton of phone calls and choose some very nice tenants that are moving in this week. In the meantime, my husband has spent every waking hour that's not been on his job, painting and cleaning and hauling out stuff t0 make the place as nice as possible. Everything seemed to be coming together okay and then the mail was delivered yesterday."Thank you for allowing us to provide your Rental Dwelling Policy," the letter from State Farm Insurance started."You are welcome," I thought out loud. "We are sorry tha
Instilling Confidence 2007-07-12 13:33:00 Today, there are a ton of houses on the market. To be precise, there are 6,890 single family homes listed in the Rochester, NY metro area. And if you are trying to sell yours, you want to do something to stand out.One of my sellers realized that the competition was fierce. When they decided to place their property on the market, they invested a little time in organizing all their owner’s manuals, warranties and repair receipts into a three ring binder. They placed a nice photo of the house on the front cover. The binder was left out for showings. The message: “Meticulous Homeowner.” The result, sold in 3 weeks, while many other listings were expiring in 3 months.In addition, the owner’s binder made a nice little housewarming gift for the new owners. They included a personal letter with helpful information about the neighborhood, local shopping and lots of well wishes! Read more:Confidence
Property Tax Rebate Checks 2007-07-12 00:36:00 When you weed through all your junk mail during the next few weeks, be on the lookout for a letter and application from the State of New York for a property tax rebate. Applications are scheduled to be mailed to western New York in mid to late July.You might recall that last year, New York State property owners simply received a rebate check. This year, our state legislature, in its infinite wisdom, decided to have homeowners apply for the rebate. Reportedly, Governor Spitzer was in favor of treating the rebate as a tax reduction but lawmakers insisted that taxpayers be sent checks with politicians’ names prominently displayed. Also different from last year are income limits, with those who make less than $90,000 downstate getting the greatest benefits.I guess I’m just not smart enough to be a lawmaker. For the life of me, I can’t understand why we don’t just reduce taxes instead of mailing an application that gets returned and processed so we can mail a rebate check. Heck, if Read more:Rebate
, Property Tax
Great Time To Be a Landlord 2007-07-08 16:16:00 I enjoy watching the ebb and flows of the market. It amazes me how everything is connected. For example, mortgage interest rates have inched up over the past couple of years from 4-point-something to now 6.5 or so. And sub-prime mortgages have dried up. In other words, you have to have pretty good credit to buy a house today.Guess what? Not as many people are buying houses these days. Two years ago, as you drove through Rochester streets, there were for rent signs on most every block. Today, that is not the case. I recently listed one rental over in Rochester's 19th Ward. I've had 22 phone calls in the past week and the only advertising I've done is put a sign in the yard. I have five houses for sale currently listed and I've not received 10 calls total on the five properties. I'd say it is a very good time to be a landlord. Read more:Great
, Landlord
, Great Time
When Children Die 2007-07-01 21:08:00 It's been a horrific week in Rochester. For my out of town readers, five beautiful, energetic 2007 high school graduates died in a fiery crash on their way to a cottage on the Finger Lakes. Almost as traumatic, a car-load of classmates were following close behind and witnessed the entire accident.There were no drugs or alcohol involved although I've heard rumor that the driver was talking on a cell phone. It appears to be a tragic senseless accident.I didn't know any of the girls or their families. The press describes them all as smart, outgoing, upbeat and cheerful young ladies with promising futures ahead of them. Each and every one of them sound like the kind of girl you hope your son will bring home. And now, their beautiful smiling faces are littering this week's death notices.What does this have to do with real estate? Not much, except a painful reminder to prioritize life. A time to step back and realize that as a real estate agent, I'm not as important as I like to Read more:Children
Scary Numbers 2007-06-30 15:10:00 In the Rochester, NY real estate market, 50 per cent of the houses that are listed in the MLS do not sell within 90 days. Just last year, only a third of the home on the market wouldn't sell within 90 days. I guess it is safe to say that Rochester has joined the rest of the country with a slowdown in the housing market.Another way to look at it, however, is 50% do sell, and many of them sell very quickly. There are two factors that sellers need to pay close attention to when trying to sell their home.The first is price. You've got to price your home competitively from the very beginning, keep a close eye on the competition, and be fast to cut the price to keep interest high. Because of the Internet, the buying public is keenly aware of what is on the market and so it doesn't take long for a listing to get stale.The other thing sellers have great control over is condition. In order for a home to sell quickly and for top price, it must be well maintained and sparkling clean! Getting r Read more:Scary
, Numbers
Extra! Extra! Read All About It! 2007-06-26 19:01:00 The press called me! City Newspaper! It really wasn't me they were interested in but one of my listings. (for on-line story, go to http://www.rochestercitynewspaper.com/historichome.)City Newspaper does a weekly column called Home Work in which they feature an interesting city home that is on the market. My listing at 75 Huntington Park qualified. So they sent out a reporter and photographer. That poor photographer! He had no idea that I have the photo bug real bad, so I was snapping photos of him photographing the house. Then the homeowner got into the action by snapping photos of me snapping photos of the pro taking serious shots. It was comical. Anyway, 75 Huntington Park is a wonderful house located just off St Paul Street. Huntington Park is a nice street....kind of an oasis in the middle of the city. It has huge mansions that were built in the early 1900's for some of Rochester's more affluent businessmen. The house has wonderful charm, with 9 foot ceilings, leaded glass fren Read more:Extra
A Funny Thing Happened on the Way to Closing Today! 2007-06-23 22:19:00 Time and time again, I say the thing I like most about real estate is that no two days are never alike. Today
was no exception.This morning I had a final walk through with some of my favorite clients, Beth and Richard. They will be closing Monday morning on a darling little waterfront cottage on Conesus Lake. Just as we were concluding our walk through, some nosy neighbors stopped by to introduce themselves. Now, these were not typical nosy neighbors. They were a small herd of cows and one goat! Fortunately, they were very friendly and simply tasted a neighbors hosta plant and wandered on up the road. Silly me, I forgot to ask if they were interested in "MOOOOOOving".Congratulations Richard and Beth! I hope the rest of the neighborhood is so friendly! Read more:Funny
, Thing
Resolutions! 2007-10-01 13:46:00 I gave up on New Year's Resolutions
many, many years ago. Instead, I do new month resolutions. I guess you could say that I have so many things to improve upon, that setting goals once a year is not enough! Actually, the thing I like best about monthly resolutions, is you can work on little things, and if you can make the change for 30 days or so, it pretty much becomes habit. And if I don't succeed in making the change, will I can try again in approximately 4.5 weeks.Last month, I decided to eat better and focused on adding fresh fruit and vegetables to my diet each and every day. I'm proud to tell you that I probably had the best feed compost pile in Monroe County. In other words, I'm going to try that one again.This month I'm going to work on the messy desk syndrome! (yes, that's 3 phones on my desk and there are moments when I'm on all three!) Hopefully, I will be much more successful! Enjoy our beautiful fall weather!
Reassessment in the City of Rochester 2007-09-27 15:49:00 We got the letters in the mail several weeks ago announcing a reassessment of all residential and commercial property in the city of Rochester
during the next four months. There was a neighborhood meeting last night with good information about the assessment process.The city announced that on average, property assessments will go up 10 percent in order to have assessed values closer to market value. Of course, that fact caused many groans as most citizens thought that meant property taxes will go up 10 percent. The representative of the city assessor's office did a good job explaining that an increase in assessment doesn't automatically mean an increase in taxes. Tax rates are based on budgets and if the budget stays the same and all assessments increase the same amount, that taxes stay the same.Of course, not all assessments will change the same amount. If that was the case, there would be no need to do the assessment. In some neighborhoods, properties are selling for less than what
Harvest Season 2007-10-09 21:27:00 One of the things I like most about my job is the diversity. Just yesterday, I was in a very urban setting and today it was out in the country. Today, it was Mendon, last week Perry and the week before Macedon. I do love the local countryside. I've been too busy the past few weeks to take many new photos but I've pulled out a few of my favorite shots of old barns and pastures. Read more:Harvest
, Season
Zero Tolerance 2007-10-09 15:15:00 Yesterday I had the pleasure of touring the Caring and Sharing Child Care Center at Webster Avenue in Rochester. If you are not familiar with Rochester, Webster Avenue is in the heart of the city and is surrounded by some of Rochester’s most neglected and violent streets. The building that houses the child care center is recently renovated and freshly painted. Maybe it’s the playhouse outside the main entrance but something about this building is just down-right inviting. I’ve had the urge to visit it for a long time.This child care center has 89 slots for child care and because public schools were closed yesterday for Columbus Day, they had a full house. So I guess I was expecting pandemonium that comes from lots of young energy. Instead, I found peacefulness at this center that was difficult to leave. Granted, it was nap time in several classrooms where soft music and dim lights prevailed. But in the older classrooms, there was a lot of learning going on and you could Read more:Tolerance
Congratulations Al Gore 2007-10-17 20:37:00 Last weekend the local newspapers reported that leaf pick up service was starting this week. The problem is, there aren't many leaves available for pick up. Today's real estate travels took me through Monroe, Livingston, Wyoming and Genesee Counties. For the most part, things are still pretty green around here with the exception of the Warsaw and Wyoming, NY areas and even there, I didn't see very many leaves on the ground. In fact, today, October 17th, I took this photo of a shrub in my front yard with new flowers. Tell me again, that there is no such thing as global warming!I got thinking about global warming a few weeks ago when Rochester Gas and Electric offered us an opportunity to send them a few extra dollars a month to support wind power. We decided to do that although it wasn't an easy decision. On one hand, there is no doubt that traditional power sources have contributed significantly to a very polluted environment. On the other hand, wind mills are not very pretty to lo Read more:Congratulations
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