Wednesday, July 29, 2009

Skaneateles Real Estate - The Weekly Update

I think summer came this week. We were able to spend a couple really lovely days at the lake, at least in the evening. I could bake away my summer cold in the sun. The grass grew and I mowed it without having to work around the rain.

Today I showed waterfront. There are some great deals out there - some left from last year (and the year before) and some new ones. Until I pulled the actual listings, I couldn't have told you how "cheap" some of these are.

Currently there are 142 active listings in the Skaneateles area of the multiple listing service. Nine - count 'em! - nine new listings came on this week. Two were re-lists - my $799,000 Carlton's Cliff listed as a residential single family home (yes, a barn can be a home!) instead of just as a lot (nine plus acres with waterfront.) The other has lake rights and a significant reduction in price.

Three more were waterfront also, but new. Two are in the low $200,000s - think of that! The other is a truly lovely 1.1M. Two more small town properties came on, both listed at under $80,000! (Yes, I called my client who is looking for something like that.) Two others are in the mid-$100,000 area. Bargains galore!

There is a new contingent property - a village fixer-upper. It will be interesting to see what the closed price is in a couple months.

It being after 9:00 and "America's Got talent" is playing in the background, I made a mistake on the computer and came up with only 14 closed properties this year in the Skaneateles area. I re-worked it, and there they were - still only 14! Finally I realized that I had hit the wrong key and I had brought up the 14 properties listed this year that had also closed this year. I thought that fairly interesting, because we've had 45 closed properties, so 14 was about a third of all the listings. Quickly listed - quickly sold? In some cases, yes, but several were re-lists. Still, a "mistake" that gave valuable information.

Of those 45 closed properties year-to-date, 7 are waterfront. Last year there were 25 closed single family homes - and 7 were waterfront, also. So this is not the best year for waterfront despite all those bargains. Yet!

As long as I was doing percentages, I checked the sale of lots. Currently there are 66 active listings - and only 4 that have closed, 3 of which were basically the same property divided into parcels. Then I went on to condos - 17 listed and no sales. Yet!

Rates are low - 5.1% crossed my screen today. Home equity lines are around 3%. Cash is always king - and can be invested in those waterfront properties in need of improvements while you're enjoying them. Remember - summer just started!

By the way - tune in to our RE/MAX tv show on Sunday on Fox at 11:30. They are also sending listings to Facebook and youtube soon. When I know how, I'll share. Trust me.