My Blog

Monroe County Housing Stats

6/3/2017

First weekend of the month which means it's time to take a look at what's happening in real estate.  Inventory remains low, as do the interest rates.  We have seen an uptick in the numbers of listings and this trend should continue.

In the last 30 days:

Active:

52 homes were listed with an average price of 170K which is within 3k of last month.

Pending

278 homes were listed as "under contract".  Average days on the market Rochester NY? 3!  Prices range from 18k to 1.2 million, with an average median price of 135k.  The market is still moving quickly, so it literally pays to be represented by an experienced agent who can help you put your best offer forward.

Sold

497 homes were recorded as sold with an average sale price of 145k.  99% of homes on average have received their asking price.   In a significant number of cases, sellers are receiving over their asking price. NOW is the best time to sell.

Some sellers are concerned and rightly so that if they get a great offer on their home, they won't be able to find a new one.  Many buyers, at least the smart ones, will be willing to grant additional time for the homeowners to look for suitable property.  As a full time, experienced agent, I've seen markets like this one before and I can help navigate the waters so that everyone ends up with a roof over their head. In some cases, some parties may have to move twice.  The home of your dreams is worth it.  With sellers receiving the very best offers and buyers receiving the lowest interest rates this year, everyone wins.   Contact us today and let's get started! 

 

Rochester NY College Students Returning Home For Summer: Enjoy It Not Stress It!

5/25/2017

 

 

It is the time of year that – like much of life – can bring good times or bring stress: the return of college students for the summer, or perhaps longer if they have graduated. 

The first hard-fast rule to remember is that there is no hard-fast rule on how to deal with the situation.  Every family dynamic is different and there is not a One-Size-Fit-All approach.  Perhaps the best gift you can give yourself to reduce what can be a stressful time is just that: nobody has a monopoly on right solutions, as adamant as some people can be.  (Some individuals have a tendency to be very certain about things concerning other people’s families at times!)  A list of ‘Summer Rules That Work For Everyone’ for the returning college student is a great place to start.

Try to take in the whole scope of your family’s circumstances: have things been exceptionally pressure-packed for you or your college-age children in the recent past?  Did they have a relatively smooth academic year, or were there a lot of struggles?  Have things been going well for you at work, in your relationships, etc.?  While we may think we know these answers, it never hurts to ask – yourself as well as your kids!   The answers may help you decide if the return home is better for a decompression period or a step-on-the-accelerator approach.

Communication, as it is in so many aspects of life, is the key.  Explicit conversation regarding what is needed, what is expected, what are deal breakers, is vital.  Remember, you are encountering lifestyle adjustments on both ends, and a degree of difficulty should be expected.  Change is not easy for anybody.  Remember that the returning students are going through change and stress, too, despite the perception that many parents have that the young person or people under their roof have it made in the shade.

By explaining to your college-age children that you want to discuss with them – not dictate to them – wants and needs, it’s a good opportunity to give them some buy-in.  Writing things down is important, too, so if a drift from agreements begins, you have something tangible to review rather than conversations that individuals remember and interpret from their own subjective viewpoints. 

Items to discuss can include major topics like family finance (explain to the young adults what your situation is – they often don’t really know), job issues, and curfews; but also the pragmatic daily living needs regarding shared times for cars, chores, television watching, and schedules for using popular rooms in the house.  Be sure to discuss positives as well: plan time together to watch certain TV shows or to go to the movies or shopping, put aside time for day trips or more extended vacations if time and budget allow.   Using a shared decision-making approach provides a sense of ownership to each person.  Rotate who gets to pick an event, show, film, restaurant, or day-trip destination, within reason.  It will instill a spirit of fairness and respect for one another’s decisions.  There are many choices to select from in the Greater Rochester area! 

Sometimes it’s worth reminding yourself: you didn’t have a family just to service a debt, to put undue pressure upon one another, or to waste precious time over issues that are often petty.  Cherish each other while the chance presents itself – and that chance is now!

 

 

2017 Rochester Guide to Festivals

4/29/2017

Happy Spring! We are ready to enjoy all that Rochester has to offer.  We live in a great community, with so many wonderful things to see & do.  The highlight of a Spring/Summer in Rochester is definitely our festivals.  I've got the early scoop for you, so you can start planning with our Rochester Festival Guide 2017! Here are some of the classics:

Lilac Festival

The Lilac Fest really kicks of festival season here in Roc City; what a great way to begin!!  This is the biggest festivals in the area (did you know it is the largest FREE festival in North America!?), located all throughout Highland Park.  They've got everything a good festival should have: music, food & fun!  Plus, you'll be surrounded by gorgeous scenery- and hopefully some beautiful & fragrant lilacs!!  You can even pick up a bush to take home with you!

The Lilac Fest begins May 12th and runs until the 21st. This year there is a policy that youth under 16 must be escorted by an adult.  They are also trying to break the world record for longest hug relay.  Check out their website for all the details & to find out all the special events planned!

 Corn Hill Arts Festival

At the Corn Hill Fest, art is the main attraction!  With hundreds of artists, you are sure to find something cool for your living room!  Happening July 8th and 9th--we're coming up on 50 years!

 

 

 

 

Same great Festival with high quality art work! 
About 120 artists 
Beautiful fine art and high quality, handmade crafts in all price ranges plus cottage industry crafts and limited commercial vendors
No crowding, lots of shade and beautiful location
Wine, Beer & Cider Tasting
 
$3.00 admission with kids 12 & under free
 
 * Festival: 150 North Avenue, Webster
   for the access road to the Festival
*  Shuttle parking lot: across road 
   from 1350 Chiyoda Drive, Webster 
Unlimited free parking at Xerox with free shuttles to & from Festival
Extra handicapped parking right at the park
Live MUSIC !

 

Park Ave Fest

Another biggie in the Rochester area, the Park Ave Fest is a whole lot of fun!  They are celebrating over 30 years of food, music, art & community.  Another free festival (how awesome is our city!?), taking place on August 5th and 6th.  This festival is great for the whole family, and there is always a street performer, musician, or cool shop to check out.  If you're a foodie, this is a great event for you!  In addition to the great restaurants and bistros on Park Ave, there will also be over 40 food stands with all your favorite!

Summer is just the first half of a great festival season in Rochester.  There's more to come in the fall, so we'll keep you posted!!

I'd love for you to become part of our community!  If you're interested in buying a home anywhere in Rochester  let me help you get started!

How to Determine Value of a Home

4/8/2017

The Spring Market is here!  What does that mean if you want to sell your home?  If you want to buy a home?  Inventory plays a big role. In basic terms, if  there is a lot of inventory, then it's a buyer's market because there is a lot for buyers to choose from.   If there aren't that many homes for sale, than it's a seller's market.

A key indicator, which is the foundation of pricing, is a Comparative Market Analysis.(CMA)  A great real estate agent will do the following:

1.  Pull your tax record.   We'd like to think that these are absolutely accurate and most of the time they are, but on the off chance that something isn't right, we want to make sure we catch it.

2.  Look at Assessed Value Remember, this is determined by an assessor, pulling the tax record and making sure the house is still standing.  An assessor, unlike a bank appraiser, never goes inside.  This number is a basic number to serve more as a bottom line to determine your taxes.

3. Analyze properties that have sold in the area in the last 6 months.  We are looking for properties that are similar in style, square footage, age, and within a certain mile radius.  The closer the better!

4.  Research the properties that have recently gone under contract.  The reason why it is so crucial to use a Realtor is because of their  expertise in analyzing numbers and because of the access they possess to current information.  Third party sites like Zillow and Trulia pull their information from tax records that aren't always accurate or that are updated only once a year.

5. Consider similar properties that are currently for sale.  While you don't really know what a buyer is willing to pay until there is a contract on the home, researching other similar properties that are for sale will help determine what the competition is.

6. Determine the impact of upgrades.  Have the owners kept up with the maintenance of the home? (furnace, windows, roof)  Have they made any changes to the decor to reflect current trends? (painted, remodeled the kitchen or bathroom, updated the landscaping and exterior)  While it is next to impossible to get all your money back on renovations (depends on what type of the market it is) at the very least, upgrades add additional value to the property above and beyond the assessment.

7.  Understand the Motivation of the Seller.  Depending on the time frame of the seller, it is often best to price the home to sell rather than to test the market and hope.

Accurate pricing is essential for both the buyer and the seller.  Fair market value means just that, it's fair and reflects current sales, the competition, upgrades, and assessments.  Those who are selling a home need to see the bigger picture.  Over priced homes stay on the market much longer.  Those who are buying a home need to understand that's it's okay to give a seller exactly what they are asking once you determine the price is fair.

Even if a move is not in your future, it's still a good idea to have a CMA done on your house at least once a year. After all, for most people, your home is your biggest investment, and knowing its value can be helpful in determining whether or not refinancing is a good idea or in applying for a home equity loan.  Keeping on top of your credit score is also a good idea.  

If you have any questions or would like to help in determine what the best value is, contact me today and I would be honored to help!

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Contact Me

Rose Gabriele
Mobile Phone: 585-749-7064
Mobile Phone:

RE/MAX PLUS

2171 Monroe Ave
Rochester, NY 14618
Office: 585-279-8200