Happy Fourth of July!

Dear Friends,

Summer is here, and the Adirondacks are the place to be! It’s great to see so many people enjoying their favorite summertime activities. I, myself, am biking and boating nearly every day and am looking forward to hosting friends and family on Upper Saranac Lake.

Summer is always a busy time in real estate. Lake Placid and its surrounding towns continue to experience high demand due to a dip in available properties. Yet the market is beginning to ease now that prices are stabilizing and inventory is increasing. This welcome uptick in activity means year round residents and second homeowners have much to consider in terms of buying options 

New buying approaches have become the norm: we’ve had buyers make offers with persuasive “love letters” to owners. We’ve had buyers wave all contingencies. We’ve had buyers make offers on multiple properties simultaneously. My hope is that this sense of urgency and heightened anxiety will start to fade as market conditions become more favorable. Certainly, the historically low mortgage rates are good news for everyone.

I am pleased to share a few new listings and selling opportunities with you; two multi-family homes in Lake Placid, a commercial property in Lake Placid, a business in Keene Valley, land in Wilmington, and a luxury home on Lake Champlain. There is something for everyone!

I wish you a wonderful Fourth of July! As always, I am available to discuss your real estate needs, offer advice, and answer any questions you have about buying or selling a property this summer.

Cheers.  Bob

By |2021-07-01T03:20:57+00:00July 1st, 2021|Uncategorized|0 Comments

We’re Past The Grey Days

We know we’re past the grey days and sandy roads of early spring when the grass turns green, and the crocuses, daffodils, and hyacinths start to bloom. Soon the maples and birches will explode with leaves, and we will again enjoy the lush landscape of summer.

After a long winter – and long year – part- and full-time residents will soon trade their boots and pants for sandals and shorts and begin to look forward to all that makes summer in the Adirondacks magical. I, for one, look forward to town bustling with people who come to hike, camp, boat, and bike. I also look forward to the busiest time of year in real estate.

Through the fall and winter, prospective buyers look at homes for coziness, efficiency, and warmth, whereas in the spring and summer, buyers experience properties as home bases for outdoor adventure and entertaining, fully appreciating gardens, decks, and views.

I love showing properties in the warmer months. It isn’t uncommon for me bring buyers to even road-access properties by motorboat or to hike with them in the woods and check out the lakes and ponds surrounding their future homes. Not long ago, I took a family – and a fleet of kayaks filled with refreshments – to see a property on an island. And yes, I have more than one story getting caught with clients in thunderstorms and losing my direction in the woods, yet all of them have happy endings of drinks at The Cottage or dinner at Lisa G’s.

As many people have heard me say, if you are not having fun looking at homes, then you are doing it wrong. Clients – those who have become friends and those new to the area – are welcome to give me a call. These days I am doing lots of home valuations for people considering listing their homes, and I am setting up alert systems for all my buyers. Here’s to the start of an adventure-filled summer and finding one’s perfect spot in the Adirondacks.

Cheers.

By |2021-06-23T17:16:09+00:00May 8th, 2021|Uncategorized|0 Comments

Now Is The Right Time To Sell Your House

Now is the right time to sell your house.

The housing market took off at record speed in 2020 and is positioned for an even stronger 2021. Record-low mortgage interest rates are a driving factor, with average mortgage rates hovering at historic all-time lows.  According to Residential Real Estate Sales Manager Tim Taylor of Community Bank in Lake Placid, the 30-year rate can be as low as 2.875%.

Buyer demand in our area is incredibly strong. With so few homes for sale right now, we are experiencing an unbalanced supply and demand. Record-low inventory means sales will decrease. Nationally, the number of homes currently for sale is at an all time low of 1.28 million, down 22% from one year ago. Locally, there are only 26 homes for sale in Lake Placid, and only 4 of them are listed between $200,000.00 and $350,000.00.
What does this mean for buyers and sellers?
Buyers need to be patient in the search process. You may have to wait for the right property at the right price.  It will happen, but it could take time. Buyers must also be ready to act quickly when they find a home that fits their needs. Bidding wars are more common when so few houses are for sale.  Recently I put Wilmington’s 17 Thrapp Way under contract with nine offers and Lake Placid’s Lakeside 19 at the Whiteface Club and Resort under contract with five offers.
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I am encouraging sellers not to wait until spring to put their houses on the market. We have never seen a real estate market like the one we have now.  This low supply and high demand market provides an ideal opportunity for those considering selling their homes. My sellers are getting the highest prices and the most favorable terms for their properties.

As always, please don’t hesitate to call me if you are interested in buying or selling property or to learn what your property could sell for in the current market.

​Cheers.

By |2021-06-23T17:16:38+00:00February 3rd, 2021|Uncategorized|0 Comments

The Value of “Screen Appeal” When Selling A Home

The Value Of “Screen Appeal” When Selling A Home

Most prospective buyers spend lots of time online looking at photos and videos of houses. It is my job to help sellers show off their homes in exciting new ways.  More than 80% of homebuyers last year found their new homes online.  I work with my clients to ensure that their homes have great “screen appeal,” which starts with two pieces of advice: walk through your home as if you’re seeing it for the first time and decide what you can do to neutralize the color palette and maximize space.
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To optimize your home’s screen appeal, and increase the number of inquiries and showings, I advise my clients to do the following:
Here are a few ideas:
1. Let’s use the most up-to-date technology, including 360 degree professional photography, video, Zillow 3D tours, social media advertising, and put comprehensive listings on multiple platforms and websites. 
Here is an example of the use of Matterport at one of my listings, 34 Acorn Street in Lake Placid:
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2.  Let’s clean that house. Nothing is more important. Have the bathrooms spotless (and toilet seats down!). Wash the windows, make the beds, dust, vacuum, and get those fingerprints off your windows and stainless steel appliances.

3.  Let’s de-clutter.  Clear the kitchen counters of small appliances, have the kitchen sink empty, and cabinet doors closed.  Remove any eyesore cords or wires, and put away leftover catalogs and magazines.

4.  Let’s do a bit of depersonalizing. You’ll want to ensure buyers can picture themselves living in the home, so put away what you can.  I’m not a big believer that you shouldn’t have family photos out, but maybe consider taking the magnets off the refrigerator.

5.  Let’s stage every room. Go throughout your home with a critical eye, making small tweaks that can make a big difference: Open the blinds, turn on the lights, and add small touches that make the space feel welcoming.

6.  Let’s remove a few of those window screens. Natural light is a big seller, and window screens dim natural light.  If you have lake of mountain views, consider removing your window screens before photos are taken, so that you can best show off that million-dollar view!

7.  Let’s add some color. Make your photos stand out with splashes of color, like fresh flowers, a few throw pillows, and a cozy blanket.

​8. Let’s give every room a purpose. That spare room you’ve been using as an office/den/spare bedroom/dumping ground?  Pick a use and clearly stage the space to showcase that purpose.
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Remember, we only get to make the right first impression one time.  I believe it’s critically important to invest in my properties and represent my clients in a manner that will make them proud.  

As always, please don’t hesitate to reach out to me about valuing, listing, and boosting the screen appeal of your home!

Cheers.

By |2021-06-23T17:17:53+00:00January 17th, 2021|Uncategorized|0 Comments

The Adirondack Real Estate Boom Continues

The Adirondack Real Estate Boom Continues

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  Winter is upon us.  While I often think of the season as a bit slower than summer, winter 2020 is proving to be very busy.  On top of preparing for the holidays, and enjoying the opportunity to ski Whiteface, this is a busy selling season for area Realtors and their clients.
The northern Adirondacks continues to see a very active real estate market.  Here are a few statistics:

  • Closed sales year to date is up 6.3% from last year
  • Pending sales year to date are up a significant 25.1%
  • Most significantly, prices year to date is up 24.3%
These astonishing numbers follow a spring slump from Covid-19 that limited business activity beginning in March and lasting until early summer.  We got up and running in early June and quickly gained steam.  Buyer activity through the summer and fall was robust, and, even as the snow flies, it remains strong, with homes selling quickly, often with multiple offers.
Because of the low inventory of homes for sale, land purchases have increased.  In the Adirondack-Champlain Valley MLS, 363 vacant parcels have sold so far this year, a hefty 60% increase over this time in 2019.
Can this go on?

What I wrote in early April proved to be not far off. The real estate market was shut down in the spring, but once it opened, we saw a tremendous demand for local real estate from buyers from metropolitan areas, particularly New York City and Philadelphia.  This has not changed.

Again, a few statistics:

  • The September inventory of homes for sale was down 46.2% from last year
  • While listing prices have increased, the percentage of list price received by sellers is stable at 94.7%

With inventory tight, and interest rates at record lows, I expect that prices will remain stable for some time and we will likely see another increase in the spring.

There is still a demand for homes in our area for buyers looking to relocate or purchase a vacation property.  My clients tell me that now more than ever they feel the mountains are a good place to be.  I’ve spoken with brokers in other resort communities and found common themes: lots of sales, low inventory, and an increased desire to be in a mountain resort community.

337 Whiteface Inn Lane, Unit 14, Lake Placid, NY, 12946
If you’re considering purchasing a property in the Adirondacks, now is a good time.  Work with a realtor who understands the market. With some patience, you will find the home you’re looking for at the right price.  While prices are up, there are still some outstanding opportunities.  Be ready and don’t hesitate when those opportunities arise, or they will go to someone else.
If you’re considering selling, don’t delay.  Inventory is low, which means that there is very limited competition for what you have to sell.  Again, be sure to work with a realtor who has an intimate knowledge of the real estate market and its trajectory.
As always, I hope you will reach out to me with any questions you may have and if I can help with your real estate needs.
I wish all of you a wonderful Holiday season.  Stay safe.
Peace.
By |2021-06-23T17:19:46+00:00December 10th, 2020|Uncategorized|0 Comments
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