Archive for the 'Real Estate News' Category

I Think I Want To Sell My Lake Home

After giving a lakefront seller  a thorough market analysis,and going over each of the properties that compete with their property I often hear “Well, I really don’t have to sell”. I then show them how many properties have sold and what they sold for.  Just like on TV they consider their property to be better and can only find fault with the other property.  At this point I want to say  “So why are you putting your property on the market”? 

Making appointments and marketing the property are time-consuming and expensive, so is it a burden the listing agent should deal with when the expectations are not reasonable?  And then the seller is going to say, “If someone really wants my house they so is it a burden the  will understand what we have put into it, so if they really want it, they will buy it. ” Unfortunately with informed buyers, it does not work that way anymore.  In the last five years there has been a huge increase in the amount of information available to buyers. This is where the sellers will have you biting your lip.

?No longer can we tell buyers they have to act quickly on this price because ” there is only so much lake property available ” Not only does a property in this market have to be priced competitively, but it needs to be one of the best priced with its competition to even get a showing. Properties over $1 million dollars are already susceptible to be on the market over a year, after all these are second homes for most, meaning there is no urgency.  The thing a seller wants to do is follow the market all the way down and always being just behind the selling price range rather than just in front of it where they should be.

The results are the same whether we are talking about Canandaigua Lake or Keuka Lake.  Some sellers still see the value their homes had in 2007 and 2008.

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Relevant Characteristics of Canandaigua Lake

 

 

“Relevant characteristics” is a phrase right out of the Uniform Standards of Professional Appraisal Practice, known as USPAP, which is the ethical and legal code all licensed and certified appraisers must adhere to. USPAP is embedded into license/certification laws in all states in the US.

A relevant characteristic is just that, it is something that is a relevant characteristic of the appraisal.  When appraisers are looking at the value of a property on Canandaigua Lake, they have to add in th value of the relevant characteristic, which of course is the lake.  The appraiser would then put together the value of the lakefront , how much lakefront and the elevation such as flat or cliff.  This would then be considered a relevant characteristic.

Most lenders hire a local appraiser since they are familiar with any relevant characteristics.  When lenders from outside of the area hire their preferred appraiser, the appraiser will end up doing a baseline appraisal that would not include any relevant characteristics.  The unfamiliar appraiser is not familiar with the area to understand the relevance or value of the lakefront.

If your Canandaigua Lake  property comes back with a lower than expected appraisal, check with the company to ensure they included the lakefront as  a relevant characteristic.

 

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No Houseboats In The Finger Lakes ?

We are all familiar with houseboats in Washington State , but after I saw this picture of a very small houseboat on a small lake North of Seattle, I began to wonder why we do not see houseboats on the Finger Lakes.    I have known people here and there that have lived on their boats in the Finger Lakes during the summer, but never have I seen boats made to be houses.  If I have missed some, please by all means let me know where these house boats are.

A friend of mine has a couple of boats on the Seneca/Cayuga River that he rents out during the summer.  But from what I remember, they are boats large enough to allow you to stay on them.

I love seeing all of the houseboats in their little neighborhoods in Seattle. 

 

Taken from an article at Curbed.com.

Location: Seattle, Wash.
Price: $145,000
The Skinny: Bobbing in the waters of Lake Union, just to the north of downtown Seattle, this quaint little houseboat offers a different way of life for $145K. Of course, sharing this tiny escape from reality with anyone else might be next to impossible, but the petite quarters are certainly cute enough to keep one occupant happy. Located in a marina slip, the houseboat was rebuilt in 2005 and now has an updated stove, new under-counter fridge, and charming beadboard woodwork. The commercial-looking marina, guarded by a worn out chain-link fence, is completely bereft of curb appeal, but the novelty of living on the water might overcome any misgivings about the location, especially when downtown is just minutes away.

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Keuka Lakeview Listing MLS # 175571

Located in the vicinity of several major wineries, minutes from the Village of Hammondsport, yes that  “Cool Town” you will  find a wonderful building lot overlooking the beautiful and serene Keuka Lake.   Rows of vineyards and the coolness of the blue lake waters are so calming.  These attributes bring many to the area to create their own personal get-a-way.  And what a perfect way to start your canvas, with a great 6 acre lot that has the most wondrous views !

 

 

 

 This photo was taken during one of our overcast days and towards the bottom of the lot.  6 acres allows for plenty of privacy, room to move, plenty of building options and of course a great place to enjoy the view. The property is located on Greyton H Taylor Memorial Dr.   and is priced to sell at $79,900.

Keuka Lake is a nice peaceful and graceful lake.  Surrounded by farms and vineyards and dotted with little hamlets along the way, you will find Penn Yan at the North end of the lake and Hammondsport at the South end.   In the Fall you are able to enjoy a panoramic view of unending colors as the leaves change from green to oranges, yellows and reds.

The perfect pace to kick back  with friends, family or both.

For more information call Dave Reeve Broker and listing agent or myself, Mary St. George 315-536-8004

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Church For Sale In Dundee MLS # 170394

I have had quite a few buyers in my career that intentionally were looking for something differerent.  I have had calls for old firehouses, school houses, converted barns and yes churches.  I did sell a church in 2010.  Well, my broker currently has a church for sale in Dundee.  Anyone that has been looking for a church to buy and convert, here is your chance !

This church is located at 8 Union St in the Village of Dundee.  The asking price which has already been reduced, is now listed at $54,000.  There is 4688 sq ft in the building which includes an addition in the back with kitchen area.  The lot size is 82 X 116.  Unfortunately, the church bell does not convey. 

This property is perfect for the person that is looking for the unconventional property.

 

 

 

 

 

 

 

 

For more information   http://www.homesteadnet.com/SiteContent/PropDetail.aspx?N=0&S=NYS&ID=25732746

Or Call Dave or Mary  315-536-8004

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