Rochester Property Management One of the most important pieces of the the puzzle of owning investment property is the property management. We see too many properties that are miss managed. This affects everyone that owns in these neighborhoods. With low quaility tenants and dropping property values make it difficult for some owners what there property are worth, even when they have managed their properties well.  If you are thinking about getting a property manger Custom Realty Group Inc., is a licensed management company located on E. Main St., in Rochester. They have a full time staff to assist owners and tenants with questions. They provide a monthly statement and direct deposit. If you are an investor or a current property owner please feel free to contact me. We would be happy assi... 05/19/2009

Flower City Days at the Market will take place from 8:00am-2:00pm on Mothers Day, May 10th.  The Public Market is located at 280 North Union Street, approximately 3 blocks north of East Main Street. Sunday horticultural sales at the Rochester Public Market provide gardeners with a great chance to buy annuals, perrenials, and vegetable plants direct from area growers. Many other gardening items such as lawn figurines, lawn furniture, mulch, topsoil, tools, and trellis will be for sale. 05/05/2009

I'm so excited. I received an e-mail from RealtyUSA today announcing that they've unveiled a mobile search! I tried it out on my phone and it worked like clockwork... which means it must be for any cell phone with internet capabilities, however basic. You can see thumbnail photos of the property, all the pertinent information, the description, and even directions. It appears you can also look up an agent or office, although I've yet to play around with that feature. Maybe it's just me, but I think this is the best thing since sliced bread!! There have been countless times I've been showing houses to clients and they've expressed interest in a house that didn't show up in my search. Now, instead of fumbling for an explanation and getting back to them later, I can whip out my phone and sh... 05/01/2009

Summer is on its way! Tomorrow, May 1st, the Erie Canal opens for boaters! It marks the beginning of the canal's 184th season of operation. As someone who grew up in the canal town of Macedon, I always looked forward to the time when they filled the canal. It meant Summer was on its way, complete with sunny days, boating, and festivals. So what's happening along the canal this year? Here's just a sample of some the events and activities: Pittsford Schoen Place - A canal landing with great shops and restaurantsSam Patch - Take a ride on an authentic Erie Canal Packet Boat! Fairport Canal Days Festival - June 5 to 7Colonial Belle - Another boat tour on the canal, which also offers lunch and dinner cruises! Palmyra Pirate Weekend - August 7 to 9Canaltown Days - September 19 to 20Port of Pa... 04/30/2009

I have been encountering quite a few people in the Rochester area lately who want to sell their homes but are holding off to complete improvements. I completely understand their reasoning, and it's true that a potential buyer's first impression of a home is very important, but holding off too long at this point can be just as harmful as listing too soon. It's a tightrope many sellers must walk this time of the year. The following graph shows the inventory in the city of Rochester. In early January, there were approximately 1,100 homes on the market. Now, there are over 1,300. In a span of just a few months, the inventory increased by over 200 homes... and that doesn't even include the suburbs! Now take into account that the weather has just recently started to improve. As it continues t... 04/18/2009

04/12/2009

The stats are out for 2008 for the individual towns  and suburbas around Rochester that make up the metropolitan Rochester area.  What's interesting about these numbers is that last year there were six towns that had home sale prices higher than the prior year! Take a look at these stats and you'll see why home sales in Rochester are stable, especially in this economy! Here is the pdf: http://www.homesteadnet.com/pdf/2008tenyearmedsalepricemocty.pdf     04/07/2009

Very, very, very quickly!Case in point, a new listing came up Friday afternoon. There were no photos but my clients decided to drive by anyway. They called me from the driveway and said we want want to see this. I pull up the listing and there is not even a flowery description of the property and call to get the appointment. There is no sign in the yard so I drive right by it but we get to see it first thing Sunday morning. They really, really like it but we decide to look at an open house that afternoon to compare the properties. No comparison!We sit down last evening and write an offer. I don't even call the agent ahead of time because, heck, he hasn't even posted photos yet so no one is going to find this property, right? WRONG! Full price offer accepted just hours before ours was su... 04/06/2009

Are you considering purchasing a home in the City of Rochester? You may want to think about attending the following program. For only $10, it covers many aspects of homeownership. 03/27/2009

I was just thinking today about how long it has been since I've posted a blog entry! In additional to having a slight case of writer's block, I've also been busy lately, which is a fantastic thing!! Still, I apologize for my absence.   As my first blog post in weeks, I thought it would be a great time to share some positive news about the Rochester real estate market. Luckily, there has been plenty of good news lately. It's shaping up to be a fantastic Spring market! The first article I want to share, Home sales ascending nationally and in Rochester area, was in the Democrat and Chronicle yesterday, March 24th. It focuses on the recent rise in our local home sales and how the $8,000 first-time home buyer tax credit should rev up our early Summer sales even more. The most poignant quote ... 03/25/2009

At the Home Buying Seminar I held this past Tuesday, several of the attendees had questions about the new $8,000 first-time homebuyer tax credit. I purposely added it to my presentation this time because it seems to have caught everyone's attention! Although it's not too complex, there are still some restrictions and guidelines. That's why I wanted to share this fantastic chart I received this morning from a mortgage professional I work with. The items highlighted in mauve represent the major changes between the old $7,500 tax credit and the new credit. I hope this helps! This credit really represents a fantastic opportunity for anyone considering purchasing a home. Don't hesitate to contact me with any questions!   I am proud to help buyers and sellers in the Greater Rochester, New Yor... 03/05/2009

No, this post isn't really about Britney Spears. It's about Rochester, NY. Forbes has once again recognized Rochester as one of the best places to own a home! This time, Rochester hit #4 on Forbes' list of most affordable housing markets in the U.S.! In our area, 80.6% of homes sold are available to median-earning families. So if you make around $63,000 a year, you can afford over 80% of what Rochester has to offer! Compare that to New York City, where median earners can only afford 14% of homes, and you can see why Rochesterians are better able to attain their dreams of homeownership. Plus, Rochester is in good company! Binghamton, Syracuse, and Buffalo round out the top four! All four upstate communities also beat the national average when it comes to appreciation. Our house prices ar... 02/25/2009

A house is only worth what a buyer will pay for it.  It's possible that home sellers are bringing down the price without even knowing it.  With that being said, ask yourself what are your buyers seeing when they visit your home.  Is it dirty?  Does it stink?  In all markets, especially this one, it is extremely important that your home be in the best possible condition for every showing. A buyer is not going to see the value in your home if it looks unkempt.  If the simple things aren't done, they will wonder what else has not been done.  A buyer wants to see pride of ownership and picture themselves living there.  I recently read a thread written by potential buyers in today's market.  They expressed their thoughts about homes they have visited recently.  Here Are The Top Five Turn Of... 02/23/2009

The buzz this week has been the 8,000 tax credit for first time home buyers that does not need to be paid back.  We are still waiting to find out for sure if this can be claimed when you file in 2009, instead of 2010.  I am waiting to hear back from the president of our mortgage company as well as my own tax advisor.  I am told the software has not been updated yet at the tax offices.  Yet many are saying it can be done now.  I'd prefer to wait until we know for sure, than give someone the wrong information. Here is a link with more information from The National Association of Home Builders: http://www.federalhousingtaxcredit.com/2009/home2.html 02/18/2009

  The Planning Board will hold a public hearing at 7 p.m., March 9, regarding development plans for the former Newport House.The hearing, at Town Hall, 1280 Titus Ave., will be to receive public comments on the proposed project's environmental impact statement, covering topics such as parking, traffic and drainage.Developers want to build 47 condominiums and nine townhouses on the site, on the shores of Irondequoit Bay. Plans also include retaining 187 boat slips on the site - 85 that would be for residents, 92 for rental by contract and 10 for visitors. The condos would be in four multilevel buildings, and the townhouses would be in three buildings.The Newport House, an upscale restaurant at 500 Newport Road, served customers on the bay from 1840 until it closed in 2006, according to t... 02/18/2009

Rochester Mayor Robert Duffy will be among a group of mayors invited to meet with President Obama Vice President Joseph Biden and five Cabinet members Friday to discuss the American Recovery and Reinvestment Act - the nationwide effort to create jobs, jump-start growth and transform the economy. Rochester is expected to benefit from approximately $10 million in road and highway construction funding. 02/18/2009

I answered a question on Trulia Voices last night that inspired me to write this blog post. It's a question that I hear in various forms on a regular basis. The question was from a prospective first-time buyer in the Rochester area who was wondering if she should buy now or wait a few months. She had heard that things were only going to get worse for sellers in our area and thought waiting might be the way to go. In other words... She was considering trying to "time the market". First of all, I applaud her for asking her question on Trulia in the first place. So many people would have taken their friend's and family's advice for gospel rather than asking the experts for advice. She received four answers last I knew, and they were all very helpful. This is the advice I gave her, and I th... 02/18/2009

The "American Recovery and Reinvestment Act of 2009," passed the House and Senate on Friday, February 13,2009(edited)The President did sign this bill on Feb. 17th.   The new bill provides for a $8,000 tax credit that would be available to first-time home buyers for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009.  This credit does not require repayment as long as you stay in the home three years, or more.A first time home buyer is defined as someone who has not owned a property in the last three years.This credit can not be received if a first time buyer purchases a property to rent out.  It has to be your principle residence.This credit applies if you purchase a single property residence, or condo, or a townhouse.  The income requirements a... 02/16/2009

This time of year, many sellers are on the fence about listing their homes. Are you in this position? Are you asking yourself, "Should I list now and beat the crowds, or should I wait until Spring when my home shows better?" Here's how I see it. Let's face it, every single home shows better in the spring than the winter. Flowers are in bloom, birds are singing, and buyers aren't freezing their butts off. But (and this is a big but!) there is also a LOT more competition in the spring! Your home won't only have to look good, it will have to look better than scores of other homes that have popped up on the market in the early spring months. I think pictures really are worth 1,000 words, so take a look at this graph that shows the inventory of homes on the market in Rochester from February ... 02/09/2009

There has been a lot of talk about the 7,500 tax credit for first time home buyers.  The homebuyer's tax credit was intended to stimulate the housing industry.  Many felt it was more like a interest free loan because it had to be paid back over 15 years.  Well now this may be replaced by a $15,000 tax credit for buyers if the 2009 economic stimulus package ultimately passes. I believe this would help many buyers who are undecided, to move forward and purchase more homes, which in effect would help sellers as well.  This could change the current housing market.  Many Americans are upset about the "bank bail out" and jokingly ask where their bail out is.  This may be it for some people.  I have to admit as great as this sounds for buyers, and sellers, I am concerned about where this mone... 02/05/2009