Butler Park Summer Concert Series

Butler Park Summer Concert Series

We really enjoyed going to Summerfest 2008 - but that doesn’t mean the music has stopped just because the rides have stopped running. Make sure you check out one of these concerts in the near future!

Butler Park Summer Concert Series 2008-

All concerts are sponsored by the Kiwanis Club of Sand Lake, and the Albany Musicians Union.

Concerts are on the stage at Butler Park on Gettle Road near the Averill Park High School.

Performances run from 6:00 – 8:00 pm.

8/3 The Reverberators

8/10 Cavanaugh & Kavanaugh

8/17 Karen Lee & Friends

8/24 Mixed Company

8/31 Big Band Night

Habitat for Humanity ReStore

Habitat for Humanity's ReStore

One of my favorite places to go on a friday or saturday is the Habitat for Humanity’s ReStore. The store, located at 454 N. Pearl Street in Albany, is only open to the public on fridays and saturdays from 9 am to 2 pm. But it’s worth blocking the time to make the trip - you will find dozens of cabinet sets, sinks, boxes of tiles, rolls of carpets, new paint, doors, windows, appliances, wallpaper remover, vintage wallpaper (my favorite!), pieces of decorative furniture and odds and ends. Yesterday, there was a gorgeous oak mantle for $90, a wood burning fireplace insert and one of those tubs that has a door (I didn’t catch prices on those!). They had a gorgeous slab of granite countertop with a sink cutout for $150. A very impressive wooden pillar for $100. Rolls of vintage 1940s-1970s wallpaper for $15-$30 each. There was even a stainless brand new wall oven for $200. I could go on and on …. it really is a candy store for DIY-lovin’ grownups.

Their rules are simple - no returns, no exchanges, and everything is sold as is. You buy it - it’s yours - unless you want to redonate it.

The ReStore gets most of their donations from builders who can donate unneeded materials (used or new) to reduce their waste costs, give customers a tax break, help the environment and the community. There is no cost to builders and the ReStore will even come pick everything up in one of their moving vans. All donations must be in an acceptable form.

And the money that they make goes to a great cause - for the fiscal year ending in June 2007, the store earned the local division of Habitat $75,698 (from their Annual Report). That money goes a long way towards their $1,169,459 expense budget.

Visit the Capital District Habitat for Humanity’s web site here. From the site:

Our mission is to ensure that everyone in our community has a decent, affordable home. That mission is made possible through partnerships and the generosity of our volunteers, sponsors, and donors and our Habitat Homeowners. Habitat for Humanity operates as a construction company; we build houses, as a bank; we offer 0% interest loans to Habitat qualified families to own their home; and, as a social service agency; serving in partnership our families over the term of the mortgage.

Directions to the Capital District Habitat for Humanity ReStore…

From Downtown Albany: Go north on Broadway. Turn left onto Van Woerst St. Van Woerst St. becomes No. Pearl St./NY-32. From Troy: Take I-787 South. Take exit 4A toward Colonie St./Columbia St. Turn right onto No. Ferry St. Turn right onto Broadway. Turn slight left onto Loudonville Rd. Turn sight right onto No. Pearl St./NY-32. From Delmar: Take I-787 No. Take exit 4. Keep right at fork in ramp (.2 miles), keep right at next fork in ramp (.2 miles), keep right at next fork in ramp (.1 miles), keep left at next fork in ramp (.3 miles). Turn right onto Broadway. Turn left onto Van Woert St. Van Woert St. becomes No. Pearl St./NY-32. The ReStore is located behind the offices at 454 No. Pearl St.

What is Keller Williams?

I am proud to be an associate with the Keller Williams Realty Capital District Market Center!

Although our Keller Williams Realty Capital District Market Center has been open for over a year now I still get the question - who is Keller Williams? Many people are surprised to learn that KW is actually the 4th largest company in the nation for brokerages. That’s right! Here is some more information about us …

ABOUT KELLER WILLIAMS REALTY

Often, we judge the caliber of people by the company they keep – this is why I would like to tell you a little bit about Keller Williams Realty and my office within the Keller Williams system. Keller Williams® Realty was founded in Austin, Texas in 1983 with the specific premise that buyers and sellers deserve the best service for their real estate needs. For more than 17 years that founding premise has been a major factor in the continued growth of Keller Williams® across North America. Two visionaries lead Keller Williams® Realty – Gary Keller, founder and Chairman of the Board, and Mo Anderson, Chief Executive Officer.
Because each Keller Williams® Market Center has grown within its respective community, Keller Williams® real estate agents have intimate knowledge of each community’s character, mood, and growth potential. Due to the fact that the majority of Keller Williams® Associates live in the communities and neighborhoods they serve, they are eager and capable of tackling unique challenges that families encounter when selecting new homes.

At Keller Williams® Realty, we are Real Estate Consultants. We are not agents. We are not salespeople. What this means is that we build fiduciary relationships with our clients. A fiduciary is someone who represents your best interests.

We are a profit sharing company where associates are in partnership relationships with the owners; this means that everyone at Keller Williams® Realty wants your home to sell because everyone benefits.

The Keller Williams culture is based upon a belief system that is summed up by this acronym: WI4C2TS:

Win-Win, or no deal

Integrity, do the right thing

Commitment, in all things

Communication, seek first to understand

Creativity, ideas before results

Customers, always come first

Teamwork, together everyone achieves more

Trust, begins with honesty

Success, results through people

Tax Credit for First Time Homebuyers (link goes to my other blog)

photo credit: x_jamesmorris

The Housing and Economic Recovery Act of 2008, the most sweeping housing legislation since the Depression era, was passed by the U.S. Senate and House of Representatives at the end of last month and was signed into law by President Bush.

Among the many changes the government has pushed forward recently to increase sales of the increasing inventory of homes on the market and to decrease the number of foreclosures that are taking place is the tax credit for first time home buyers - a tax credit of up to 10 percent of the sales price, up to $7,500. Many of the provisions of the new law go into effect October 1, 2008 but can be used by first-time home buyers who bought, or will buy, their home between April 9th of this year and July 1, 2009.

This is a good thing - however, understand that this is a CREDIT and not a DEDUCTION. A deduction is an item that is subtracted from your annual income before income taxes are calculated. A tax credit is subtracted from the amount of taxes you owe.

“First-time home buyer” is specifically defined in the new law, and includes those who may have owned a home in the past, but not within the last three years. To qualify, be prepared to show your last three years’ worth of income tax returns to prove that you did not pay mortgage interest during that period. There are also income limitations on the tax credit - $75,000 per year if you’re single and $150,000 if filing a joint return to qualify for the full credit, but the credit does phase out beyond those amounts up to $95,000 for singles and $170,000 for joint filers.
By the way, the tax credit isn’t a gift - you have to pay it back. Nevertheless, it provides an initial reprieve, as repayment doesn’t begin until two years after purchase, and is payable over a 15 year period. If you sell the property before the tax credit has been fully repaid, any remaining amounts owed are due to the IRS upon closing.

If you have questions about this or any other real-estate financial investments please speak to an accountant, lawyer or mortgage professional.

This article on CNN discusses both the pros and cons of the new law.
(Additional editorial content by David Reed, Texas-based mortgage banker with more than 20 years experience and author of Mortgages 101 and Mortgage Confidential.)

Current Market Statistics (link goes to my other blog)

photo credit: juhansonin

As we fly-by the halfway point of the year I thought it would be a good time to see where our local market is headed. Although the market is still strong in the Capital District we have also been faced with an increase in foreclosures and a decline in house prices. However, real estate is extremely localized and decent schools with always be an attractive feature to new home buyers and keep home prices steady. Luckily Averill Park schools are very highly rated and desirable.

Currently in the Averill Park school district there are (data is from Jan 2008 - mid-August 2008 only):

• 143 single family houses on the market with an average list price of $$294,741 and an average days on market of 134 days and an unsold percentage (aka expireds) of 16.07%
• 1 two-family house on the market with an average list price of $299,900 and an average days on market of 161 days and an unsold percentage (aka expireds) of 100.00%
• 3 residential rentals on the market with an average list price of $1,133 and an average days on market of 114 days and an unsold percentage (aka expireds) of 0.0%
• 43 lots of vacant land on the market with an average list price of $160,872 and an average days on market of 233 days and an unsold percentage (aka expireds) of 34.29%
• 1 multi-family dwelling on the market with an average list price of $127,500 and an average days on market of 439 days and an unsold percentage (aka expireds) of 0.0%

One can you logically assume from this data? One out of 3 vacant land listings and approximately 1 in 6-7 single family homes will not sell. Also there are not many two- and multi-family dwellings or rentals in our area.

The other statistic we follow is The Absorption Rate AKA “Months of Inventory”. The current absorption rate for the Averill Park school district area is 3.1 months. This number tells us how long (in months) it would take all the SINGLE FAMILY homes on the market to sell before supplies were exhausted IF no other homes came on to the market. The higher the number the slower (ie less demand and more supply aka Buyer’s Market) the market.

Current Market Statistics For the Averill Park NY Area

I am currently working on some graphs to define the historical relevance of these numbers - look for a new page soon!

Ok, this is actually last week - going to be posting this week's in a few minutes.

This week's snapshot for Averill Park NY area (including homes for sale in Sand Lake NY, Wynantskill NY and Poestenkill NY):

• This week there are 147 current single-family homes for sale.
• This week there are 36 single-family homes pending (under contract).
• So far this year there have been 91 single-family homes sold.
• One year ago there were 89 single-family homes sold.
• So far this year the most expensive home in the area sold for $525,000.

This week there was one price reduction in the area for $14,900:

Home for Sale in Poestenkill NY

23 Grandview Drive, Poestenkill NY, $460,000,
5 bedroom, 4 bathrooms, 2 acres, 3450 sq. ft

Spectacular custom home featuring panel construction with R-38 walls, R-64 ceiling insulation, 98% efficient boiler w/ air-to-air heat exchanger; Andersen high eff. windows & Pella sliders; 35 yr roof; Kohler fixtures, tubs, etc; custom-made kitchen & bathrm cabinets; whole-house audio system including exterior (both porches 10ft+ deep); huge his & her walk-in closets + shoe closet in master bedrm; 1st fl 5th bedroom or office + 1st fl full bath; 9' high heated basement. Listed by Prudential Manor Homes.

The Averill Park Sand Lake fire department has been in service for more then 100 years and has seen many changes over the years.

Averill Park and Sand Lake Fire Department (APFD) is facing both an increase in the population, resulting in more firematic and EMS activity, and a decline in volunteer membership. In addition, of the current APFD members, 11 active members are over the age of 65. APFD recognizes that we need an infusion of volunteers that can be trained and ready to take the place of our aging volunteers when the time comes. This time may not be that far off either, having had at least 3 active members reduce their activity levels within the last year. To become a volunteer visit their website at http://www.averillparkfire.org or contact Chief Paul Glasser, Jr. at 788-1131.

What do you get when you volunteer?

• give back to your community
• camaraderie with fellow community members
• LOSAP retirement plan
• life insurance
• opportunities for tuition scholarships
• $200 NYS income tax credit
• eligibility for membership with FASNY and their federal credit union
• training to be an Emergency Medican Technician
• participation in fire prevention and community education

Also, HUD offers the Good Neighbor next door program for firefighters (also police officers, teachers). You can save up to 50% from the list price of a home, as long as you agree to owner-occupy the home for 36 months as your sole residence. Eligible single family homes are generally found in revitalization areas and are listed exclusively for sale through this program.

The fire house is located on Eastern Union Turnpike - 674-3077 or http://www.averillparkfire.org

Some pictures that I took of the firefighters and the Rescue 1 at the Butler Park Summerfest carnival:

Neighboring Departments:

• Wynantskill Fire Dept
• North Greenbush Police
• Defreestville Fire Dept
• Poestenkill Fire Co.
• Eagle Mills Fire Dept

Contact your lender as soon as you realize that you have a problem.

Lenders do not want your house. They have options to help borrowers through difficult financial times.

When calling your servicer, please make sure you have the following information available; Name, Address, Telephone number, Email Address, Servicer’s Name, Loan Number, Current Income and Expenses, Reason for Default, Is the loan in bankruptcy? (if yes, you will need to provide the names , location, case number, and attorney), Is the property owner occupied?

If you are unable to make your payments try one of these options first ...

Forbearance. You are allowed to delay payments for a short period, with the understanding that another option will be used afterwards to bring the account current.

Reinstatement. When you are behind in your payments but can promise a lump sum to bring payments current by a specific date.

A Repayment Plan. If your account is past due, but you can now make payments, the lender may agree to let you catch up by adding a portion of the past due amount to each current monthly payment until your account is current.

Modifying Your Mortgage. The lender can modify your mortgage to extend the length of your loan (or take other steps to reduce your payments). One solution is to add the past due amount into your existing loan, financing it over a long term.

Selling Your Home. If catching up on payments is not possible, the lender might agree to put foreclosure on hold to give you some time to attempt to sell your home.

Property Give-Back. The lender can allow you to give-back your property – and then forgive the debt. Give-backs do, however, have a negative impact on your credit record, although not as much as a foreclosure. The lender might require that you attempt to sell the house for a specific time period before agreeing to this option, and it might not be possible if there are other liens against the home.

Do not pay for help - there are many free services available to homeowners to prevent foreclosure.

If any firm claims they can stop your foreclosure immediately if you sign a document appointing them to act on your behalf, you may well be signing over the title to your property and becoming a renter in your own home! Never sign a legal document without reading and understanding all the terms and getting professional advice from an attorney, a trusted real estate professional, or a HUD approved housing counselor.

For immediate help and guidance 24 hours a day/7 days a week, call 1-888-995-HOPE (NeighborWorks). You will receive absolutely free foreclosure prevention counseling by expert counselors at HUD-approved agencies. Homeowners can get budgeting help, a written financial plan, and assistance in contacting their lender. If you’d like face-to-face counseling or need local resources, homeowners are referred to their local NeighborWorks® organization or other counseling organizations

To read more about New York State specific laws on foreclosure visit this website.

To download many of the New York state's Banking Department worksheets and informational brochures visit their site here.

Ed. note: much of this information was gained from the NeighborWorks and HUD websites.

Unfortunately, like the rest of America, foreclosure is taking place in the Averill Park area as well. While these homes are often great for first time homebuyers they are often left in an indecent state and require the ability to see potential. They are also one of the saddest things to preview and show - they are often left quickly and many of the homeowners belongings are left behind - including personal belongings and furniture. You will see babies toys, pictures on the walls, and once loved clothing hanging in the closets.

Current bank-owned properties on the market:

54 Seneca Road, Averill Park, NY $109,900

What a great opportunity for someone who is handy looking for their first home, or maybe someone looking for a second residency. This home sits very close to Racquet/Reichards Lake, and offers a Lake View. What a peaceful retreat this could be, from the hustle and bustle of everyday life. Settle down in the evening by taking a nice long walk down by the Lake! This home does need a lot of tlc, it has been let go a bit, currently has electric baseboard, and noticeable patching on the roof etc. Currently listed by Coldwell Banker Prime Properties.

Updated July 6, 2008: Many people discuss why foreclosures are taking place in abundance and what made the bubble burst ... I wanted to share what I think is one of the most well-written and concise explanation of the problem (from Forbes.com writer Matt Woolsey):

Historically, housing affordability has ebbed and flowed with the economy and buyers' ability to pay. But during the recent housing boom, price growth significantly outpaced income growth. Between 2001 and 2006, the number of homeowners paying more than half their income on housing rose to 8.8 million, from 6.5 million, the largest such increase in history, according to the Harvard Joint Center for Housing Studies.

Much of that run-up had to do with loose lending standards including no-documentation loans in which borrowers weren't required to prove income; home prices rose as a result of demand. Once the nation's credit shores dried up, there were few buyers who could reasonably afford the inflated prices, which quickly began dropping once inventory grew and buyers stayed home.

Butler Park Festival - annual celebration of the area and holiday

We went to the annual Summerfest last night and we had a great time - always spend more then we plan on of course - and eat way more then we should - but it was still a night to remember. Our friends Damien and Corrinne (who is Irish) came with their daughter Victoria and we really enjoyed the fireworks. There is another set of fireworks tonight at 9:15 if anyone missed them.

The Summerfest is sponsored and organized by the local Kiwanis Club of Sand Lake (I will be blogging about them later this month). They also serve beer and have a food tent. There are 1/2 dozen rides for small children and another 1/2 dozen for larger children and adults. There are also carnival games (hook the duck, shoot darts at balloons, make baskets) for money (is it me or does this seem so much more expensive every year?) to win cheap stuffed animals and blow-up toys. And of course you can get candy apples, cotton candy, freshly squeezed lemonade, sausage and peppers and my favorite, funnel cake. Last night we watched a small group of girls called the Emeralds of July - they were fun, singing poppy songs. Made me think of a live version of Kidz Bop. It was a bit colder then we expected so I purchased a nice black hoody with the word Irish embroidered on it - which made Corrinne smile We ended the night with the fireworks.

Enjoy the photos!