Archive for April, 2008
It’s Wild Water Derby Time In The Finger Lakes !!
April 20th, 2008 categories: Real Estate News
After a long drought of “no” Wild Water Derbys, the Shortsville Manchester Area Chamber of Commerce is hosting the “comeback” for a third year. The first two years of the comeback favored the crowd with great weather and entertainment via the registrants (kayakers, canoeist and of course the crowd favorite - the homemade rafts). This year the event boast two days of activities including craft vendors, a Saturday night barbecue, and a “duathlon”. 
So if you would like to see some face paced action, visit with friends or meet new ones, come down to Shortsville/Manchester and enjoy a great day watching the races, snacking on some food, visiting with vendors and if you are really hungry, grab a bite to eat at the barbecue. The Depot and Buffalo Bill’s will also be serving meals to the hungry and have libations for the thirsty.There are three different types of events, kayaks, canoes and home made raft divisions. It is always fun and interesting to see what the creative water craft builders have put together and to see if they actually stay together.
Reminder, this is a family event, so no alcohol allowed on grounds and please be pet friendly and leave Fido home out of the crowds and weather.
If you would like to participate, there is still time - all you have to do is go to the Wild Water Derby website an enroll.
See you there !!!
Another fun time event in the Finger Lakes brought to you by Mary St. George
Some of the pictures courtesy of Dave Spier
Wild water derby 2008 Click here to see a home made video of the event
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Is Your Picture Really Worth A Thousand Words?
April 20th, 2008 categories: Information - Other Areas
As Real Estate Agents, we became used to everyone handing you a business card with their picture on it, but did we really need to see all of the faces on those cards? Well, maybe…just to remember who it was we networked with or worked on a deal with. But come on now, we see agents faces on “everything”. They are on sign riders, blogs and everything in between. Quite the overkill I would say. Could it just be the sign of the times, where we all just become so vain, that it is us, the individuals that want to see our face out there?
- Do our clients choose us because we supply a photo?
- Maybe they choose us because they like the way we look.
- Does it make us more important?
- Did we get the contract from the photo?
- Does it make us more knowledgeable ?
- Does it guarantee a sale or closing?
There are times when I am glad I have a photo to refer to, but it is less times than more.
What if everything we purchased came with a persons photo on it? A can of corn that included the machinist best photo or a sofa with the upholsterer’s best candid shot, where will it stop? Or how about the agents that use photos from twenty years ago and then you get to meet them in person? You look at them and think, you set the meeting up with the wrong person.
Yes, there is a place for our ugly mugs, but it does not include “everywhere”. How about a nice shot of your local area? or maybe an interesting graphic or logo to pique the interest of the viewer. This maybe just my personal preference, but I don’t feel comfortable with my photo on everything and I really get tired of seeing the same pictures over and over.
There are many Realtors out there that are quite successful, that do not use their personal pictures on all the media they create. Here in the Finger Lakes, lets promote the area views and not ourselves. I welcome all agents comments and I am posting this for that purpose since I see humor in the subject.
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The Foreclosure Hype
April 13th, 2008 categories: Community Issues, Real Estate News
With the depressed real estate market, new opportunities have opened up for the professional “scammers”. I read it in the newspaper, I hear the chatter on the radio and see the busy ads on TV. “Foreclosures are higher than ever, get in on your chance to buy these homes at ridiculously low prices - Call now for your free directory”
Even here in the Finger Lakes area, I receive calls and emails from potential clients that only want me to look for REO’s ( real estate owned by the lender through foreclosure) for them. I do not have a problem with that, because why not. If an investor is willing to roll up their sleeves and put some physical equity into a home, in a good market, they can make a decent return on their investment. The problem is when buyers that would normally look around for a home their fits their needs decides they only want to look for foreclosures. Yes, there has been an increase in foreclosures in our area, but not to the extent that the MLS (multiple listing service) is full of them. The other issue is that the foreclosures that are on the market are not suitable or desirable to the average home buyer. These homes are usually in the lower end of the market and in bad areas, definitely not your typical three bedroom 2 bath home.
There are also different ways to buy a foreclosed home.
- You can buy them at auction on the courthouse stairs - but I warn you against that unless you have a good title search attorney or you are knowledgeable yourself to research the property. When you buy a house on the courthouse steps you get the title and also any liens that may be attached to it.
- You can work with a Realtor to find REO’s - these homes have been taken back by the lender and the titles have been cleared. The lender will try to get the market value on the home, but depending how long it is listed, you will increase your negotiating power.
There are other areas of the country where foreclosures do dominate the market, but fortunately not in the Finger Lakes area. There are still many people with good paying jobs looking for decent homes and able to obtain conventional mortgages.
So if you really want to look for foreclosures, be prepared for what most of them are and work with a Realtor that is familiar with REO’s. Patience in finding a place and being financially prepared to place an offer are also key components.
Information for the Finger Lakes brought to you by Mary St.George
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Do You Fit The Picture…of a Second Home Buyer ?
April 13th, 2008 categories: Real Estate News
According to the National Association of Realtors, the second home buyer falls into two categories - purchasers of investment properties and purchasers of vacation homes.
Second Home Buyer Characteristics
Vacation Home Buyer
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average age is 59 yrs old
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income of more than $71,000
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more than 85% do not rent out their homes
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1/3 of the buyers wanted to be close to their job and approximately 1/4 wanted to be near their primary residence - less than 220 miles
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88% travel by automobile
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a majority have no children under 18 living at home
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these buyers tend to spend more than investment buyers
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consider purchase as a good investment
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desire a place to get away to
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nearly half of vacation homes are in resort/recreation areas
Investment Property Buyer
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median distance from primary residence is 18 miles
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usually invest less per property than a vacation home buyer
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2/3 of the buyers purchased for rental income
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50% purchased to diversify their investments
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50% are detached single homes
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median income of investment buyer is less than vacation home buyer
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median age of investment buyer is 55
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over 25% of properties are located in urban areas
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typically younger and more affluent than vacation home buyers
Both types of buyers consider their purchases as a good investment and almost half of both categories used their savings for a down-payment.
Good news for Real Estate Agents…More than 90 percent of second-home buyers felt it was important to use a real estate professional, and most would use the same agent again.
Real Estate information brought to you by Mary St. George
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Open For Business On The Finger Lakes
April 13th, 2008 categories: About Me
Mary St George, Associate Real Estate Broker for Finger Lakes Premier Properties is now open for your business, serving the Finger Lakes area. Our target markets include lakefront homes on Keuka, Seneca, Canandaigua, Honeoye, Conesus and Cayuga Lakes, as well as unique and distinctive homes. Our buyers come from all over the country and the world, and of course our sellers come from the Finger Lakes area. If you have a property or would like to purchase a property that fits this criteria, then we welcome you as a client.
Mary St. George a licensed broker of the company is certified as a Resort & Second Home Property Specialist. This is especially important for sellers or buyers that need to work with a 1031 property exchange. Knowing how to move your equity from one property to another will save owners substantial capital gains taxes and at the same time increase equity in real estate holdings.
So what is so special about this area? Where do we begin?
- The hundreds of wineries that sit perched around the lakes - In these wineries you will find many award winners but the best part is you will undoubtedly find a wine that suits your personal taste. Many of these wineries also have unique restaurants and cafes allowing you to taste and savor some very delectable and sumptuous foods
- The landscape dotted with woods, hills, vineyards and farms
- The beautiful picturesque lakes that run north and south like a set of “fingers”
- The fishing, just ask those that frequent the area - I have had some of the best tasting perch caught by ice fisherman
- Skiing in the winter and hiking in all seasons - there are both private and state trails
- The quaintness of the villages dispersed throughout the valleys each with its own personality
- The great restaurants in and around the lakes especially during the summer months
- The festivals and farmers markets in each of the towns , and everyone in the area knows about the infamous Windmill where you can find locally made craftsand fresh produce opening this year April 26th.
- One of my favorites is the Wild Water Derby that takes place the last weekend in April - be sure to visit the website
Your update to the Finger Lakes by Mary St. George
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