Wednesday, October 7, 2009

Skaneateles Real Estate - The Weekly Update

Welcome to the wild and wooly fall weather! I toured some people last week to show them what gorgeous Central New York offers in the fall. They saw rain, and more rain. Eventually my 70 degrees and sunny predictions showed up. I thought that when they left it would turn lovely again, and in a way it has. The wind is amazing out there! If you see a plastic recycling bin and a steel mesh wastebasket flying by, please grab them for us.

Hooray! We've now hit another 20 closings - but more on that later.....

Currently there are 145 active listings in the Skaneateles area as defined by the (current) multiple listing service we use. Four re-listed properties returned to the market. Three stayed basically the same, but the fourth dropped a good deal in price and left the FSBO market for a Realtor who gave sage advice about the possibility of its sale. We'll see what happens (well under $200,000 in the town.) Three brand new homes came on - two village listings, one of which dropped $15,000 the first week! The third is a sweet little cottage in the country for over $200,000.

Three (3!) single family homes were marked contingent. Two are waterfront, one of which has been on the market (and off the market) for three years. Gorgeous multi-million dollar custom-designed home with acreage! The other is under one million but closer to the village. The third to be sold is a doublewide in the Moravia School District.

Although there were no new pending properties, there are six waiting to close. Add that to the 8 marked contingent and we can look forward to a healthy fall season.

Two more homes have closed, bringing the total for the year to 61. This means that at some time before the next update I will publish the list of closings (40 to 60) and their closed prices. Both of these new ones actually closed a while back, but for whatever reason they only now were put in the computer. Both came in 10% under their original list price, and both were outside the village in the $200,000 range. First time homebuyers? Maybe.

I have a closing Friday for a first time homebuyer. Not only is he getting the $8,000 maximum tax credit, but he also has come in under the wire for a New York State mortgage program. I don't know exactly what the final figures are, but he's thrilled. If you'd like more information about that program, please e-mail me at

I did go back and take a look at homes in the past 60 days that have been withdrawn or expired and not reappeared in another form (as in "re-listed.") A small number, 6, have decided perhaps to wait until next year and withdrew their listing. A larger number, 13, waited out the listing period and then let it go. Both of these groups are people who do not have to sell and can wait for the market to pick up again. I can understand their frustration - and they need to know they are not alone.

But we do have 61 closings with more to follow. Let's celebrate that!