Archive for the 'Information - Other Areas' Category
Lakefront Changes on Keuka Lake
February 6th, 2010 categories: Community Issues, Information - Other Areas, Keuka Lake, Restaurants
As in most areas, there are usually landmarks that just seem to have been there forever. The same holds true for Keuka Lake in the Finger Lakes. There was once a little (and I mean little) store on the East side of Keuka Lake called “Froggys“. You knew you were there because it had a huge green frog outside of the store. Everyone knew what you were talking about when you said Froggys, and just as important, they knew what area of the lake you were referring to. The place was sold and the frog became history. Towards the end of its existence, the old store had become one of those places that made you question whether it was even open. You know, something you would see in the movies.
Along came a young forward thinking man that decided to tear the old place down, build a new, larger, cleaner and more updated facility, and offer a deli. Since this stretch of road covers around 20 miles from Penn Yan to Hammondsport without any other stores, I see this as a wise decision to rebuild. The name of the new facility is “The Olney Place” on Keuka, Market and Deli. The best part about it for the owner, is that it is opened seasonally allowing him to pursue other interests during the winter months when most lakefront properties sit empty.
Once Spring arrives, so do the lakefront owners. I am sure they will all be meeting at Olneys, grabbing a fresh cup of coffee or maybe even the sandwich “Special of the Day”, and then discussing everything they missed during the winter. The area will be bustling.
As someone that has brought clients there for a quick lunch and a nice cold drink between home viewings, I can tell you first hand, they do have great food there. The selection of sandwiches will make you hungry, even if you thought you were not. The store is clean and has a great selection of items for your lakeside needs.
So when you are driving around the lake this summer, or you are stopping by your lakefront home, stop into Olneys, pick up something cold to drink, grab a sandwich and then tell Seth that Mary sent you.
Finger Lakes Information brought to you by Mary St George
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Lakefront Property Declining? No Way !
November 18th, 2009 categories: Information - Other Areas, Real Estate News
Lakefront property has somehow been shielded from the effects of the economy. The major reason of course, is that there will only be so much lakefront. Another reason is that vacation properties are used as investments. What other investment can you enjoy and use while building equity? If the stock market takes a nightly nosedive, your lake house will still be standing and will still maintain it’s value.
As you can see from this chart sales on these six lakes did the best overall in 2007. Cayuga Lake showed the only increase in sales through the third quarter. Sales spiked in 2007 on the lakes just like they did across the board in all types of sales which would include residential. Because we are dealing with investment property, lakefront is still a viable option as shown. The following chart will show the sales dollars comparisons through quarter three.
Even though the number of sales went down on Canandaigua and Seneca Lakes, the dollar values increased. The two lakes would be considered in the sellers market. Now looking at Cayuga Lake; sales have increased but dollar values have decreased, making this a buyers market.
Buyers in the $300,000 and less market are purchasing properties on Cayuga, Conesus and Honeoye Lakes. The upper dollar sales are being purchased on Keuka and Canandaigua with Seneca Lake showing sales across the board.
If you are seriously considering purchasing properties on the Finger Lakes between Conesus and Cayuga Lakes, call me and we can discuss the best strategy for you.
Information update brought to you by Finger Lakes Lakefront Specialist Mary St. George
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Is Your Home “For Sale” Ready?
June 8th, 2009 categories: Information - Other Areas, Real Estate News
Getting Your Home Ready To Sell
You are going to be moving, be it two months or six, you will still have to prepare. Get a jump-start on the whole process. This is also going to assist you in the selling of your home. Remember all of those closets, cupboards and drawers you have meant to go through and organize? Well, right now is the time to do it. This will give prospective buyers a clean slate to look at (remember that buyers will be opening cupboards and closets) and you will be a couple of steps ahead on your future move
Start with your closets.
1. Pack up a container of items you can donate. You know, those items that you have thought about using, but have not in over a year - get rid of them. Donate those items to a local charity and use it as a deduction on your taxes in the following year. Keep good records - see form 8283 for non-cash charitible donations or visit the IRS website for more information. http://www.irs.gov
2. Pack all of your out of season items and mark accordingly. When you arrive at your new residence, you will be able to identify, allowing you to unpack and put away in its new location.
Now the only things left in your closets will be items you currently wear and use. And look how neat and clean everything looks! Do the same thing with drawers and cupboards. Dishes and utensils used for special events and holidays can all be packed away and marked. Any item you feel you don’t need, again - donate it. You can also receive credit for household items you donate.
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Your Home Information Link to Tom
June 8th, 2009 categories: Information - Other Areas
I usually do not repost other blogs, but I have found Tom’s articles to be very informative. These articles has been reprinted with Tom’s approval. Call him if you have any questions about keeping your home up to date.
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Thanks Tom for the info
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Missing in Action - Buyers!
July 1st, 2008 categories: Information - Other Areas, Real Estate News
Are all the buyers on vacation? Did the buyers all move to Antigua? With it being a buyers market, there sure seems to be a shortage of them. Market conditions are showing that high end and resort buyers are out there, but the buyers of traditional family homes are lying in wait.
Here are some reasons why there should be a plenitude of buyers for traditional homes
- Currently interest rates are still low
- Prices on homes have fallen between 15 an 20 percent, some areas a little more or less
- Buyers have more tools and resources to work with
- Mortgage lenders are still issuing loans
- Real estate is still an equity builder
Some reasons buyers are still sitting on the fence:
- They are waiting for prices to fall further
- Some are waiting for the perfect foreclosure to come their way
- Too much inventory, making it difficult to make a decision
- Afraid they will not qualify under stricter standards
- Selling their current home will not bring them the market value they expect
Whatever the reasons are that you are encountering, we need to educate the buyers and encourage them to visit with a couple of lenders. Most will be pleasantly surprised at the rates they can still obtain, and what there monthly costs will be.
Once the market gets back on track, we will likely see the interest rates begin to climb back up. This indeed is the best time to buy a home, especially for the first time home buyers - since they do no have a home to sell.
Information for you to use in the Finger Lakes area of Real Estate, brought to you by Mary St.George
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