The Finger Lakes Become a Golden Egg

When a nationally syndicated newspaper such as the USA Today does a story on your little slice of heaven, everyone starts talking both locally and nationally.      They have just laid a golden egg for you.  It is what you do with that article, that determines how gold that egg stays.     

Locally, everyone can claim bragging rights to the area, we all know it is wonderful place to be able to call home, even though we sometimes forget that important fact.

Nationally, everyone wants to know why they don’t know about the area already.  So they start making phone calls about real estate availability, about business in the area, tourism numbers and “is it true that John Travolta bought a house there?”  ( I will get to that question in a minute or just click on the link )

When it comes to real estate, it is important to sellers, to not hike up the selling price for the potential of speculating in the area.  As Realtors we want to make sure that we maintain our professionalism with all contacts to these inquiring minds.  We do want to expound on the benefits and attributes of the area, but we do not want to make speculative promises to those blinded by the light.  We do not want to promise housing prices with cash flows that do not exist.

One of the listing examples in the article was about a house on Honeoye Lake.  It was listed for under $165,000 and actually the listing price is $149,000.  It is currently in a rental management program but does not produce cash flow that is going to make someone wealthy.  The income will most likely cover the taxes and some maintenance. And the owner does not own the lakefront.  They own rights to use the lake front.                                                               

I have already received  several calls from folks looking for properties like this as if they were all over the place.  Well if you are from the area, you know that not to be true already.

However, if the right type of investors see and understand the beauty of the Finger Lakes, it can benefit all of us. 

So lets keep an eye on articles relating to our area and hope that folks come here with good intentions.

For more news about the Finger Lakes and where to find it, contact Mary St. George RSPS – 315-719-8377

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Mary St. George