Tuesday, December 16, 2008

Skaneateles Real Estate - The Weekly Update

You would think nothing would happen at this time of year, but my listings are being shown or at least inquiries are being made. And why not? The mortgage rates are going down and there are deals to be made.

There are 117 active listings in the Skaneateles real estate market. Only one new one came on this week and that was a re-list. Of particular interest to many is the marking of 11 Onondaga as contingent - again. We believe this sale will go through, but in the event it deosn't back up offers are more than welcome.

A newly pended home is in the village - it never bothered to go contingent, just pended! I think everyone is a bit gunshy right now and would prefer to wait until the commitment comes across our desks.

We had three closings this week - three! In the town a home closed above the list price - imagine! In the village a small investment opportunity closed at two-thirds of the original list price. Waterfront also closed - but at a reduction of about 25% from the original price.

We now have approximately 65% of last year's closings, with 24 being waterfront. Of the 20 true waterfront, as in on the lake not just with lake rights, only three were over one million dollars. And another three were under half a million dollars. But within that vast 70% of the closed waterfronts between 500k and 999K the range was huge. Gorgeous new construction vs. tear it down - please! How do you set the price? I think the answer is a combination of all things - location, condition, ease of movement, and subjective perception. Some people want the tear downs and others think a camp should be a camp, not a castle. Skaneateles has all kinds!

So enjoy the winter months, enjoy the last weekend of the Dickens celebration, and "Come Home to Skaneateles!"