Rochester NY Real Estate Blog-Kristal Perrone Realtor®

Extension and Expansion of the First Time Home Buyers Tax Credit

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Sat, 07 Nov 2009 10:50:11 -0600

November 2009

After a two week delay, President Obama signed a bill which will extend the $8000 tax credit for qualifying first-time home buyers through June 2010. First time home buyers will receive the $8,000 Federal tax credit if they:

1. Sign a contract by April 30, 2010
2. Close on the home by June 30, 2010.

The new bill will also provide a $6,500 credit for move up buyers who purchase a new primary residence, and have lived in their current home for at least five of the previous 8 years.

The bill has a few provisions including:

1. Single tax filers who earn up to $125,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, single filers who earn $145,000 and above are ineligible.

2. Joint tax filers who earn up to $225,000 are eligible for the total credit amount. Those who earn more than this cap can receive a partial credit. However, joint filers who earn $245,000 and above are ineligible.

The credit will not be giving for investment properties or vacation homes. You will receive this credit when you file your taxes. If you have been considering selling or buying a home, now is a good time to take advantage of this credit. It is best to contact your tax advisor for more specific information to see if you qualify.

Unique 3 Bedroom 2 1/2 Bath in Perinton, NY

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Sun, 18 Oct 2009 07:57:32 -0500

Kristal Perrone | Hunt ERA Columbus | 585-615-4810

1700 Ayrault Road, Rochester, NY

Very Large Unique House With A Deck and 2 Story Shed.

3BR/2.5BA Single Family House

offered at $174,900

Year Built	1979
Sq Footage	2,444
Bedrooms	3
Bathrooms	2 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	.46 acres
HOA/Maint	$0 per month

DESCRIPTION

This unique home offers a large eat in kitchen with an island, a pantry and new countertops. It also has a 3 season room accessed thru sliding glass doors off of the kitchen. Attached to the 3 season room is a nice relaxing deck perfect for barbecuing. The yard is nicely landscaped with a huge 2 story shed, a playset that will stay, and a pool. There is a master bath off of the master bedroom. The walk-out lower level includes a large family room with fireplace, 1/2 bath & a bonus room for a 4th bedroom or an office. The living room has been freshly painted, and the dining room has a new hardwood floor. All appliances & a 12 month warranty are included for the buyers. Save money with Fairport electric.

Open House: October 18th, 2009 from 2:00-4:00

For more pictures please visit: www.rochesternyforsale.com

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Fireplace
- High/Vaulted ceiling	- Walk-in closet	- Hardwood floor
- Family room	- Living room	- Bonus/Rec room
- Office/Den	- Dining room	- Dishwasher
- Refrigerator	- Stove/Oven	- Microwave
- Laundry area - inside	- Balcony, Deck, or Patio	- Yard
- Swimming pool

ADDITIONAL PHOTOS

Welcome to 1700 Ayrault	Kitchen
Deck	Shed
3 Season Room	Living Room

Contact info:

Kristal Perrone

Hunt ERA Columbus

585-615-4810

For sale by agent/broker

Equal Opportunity Housing

Posted: Oct 16, 2009, 3:03pm PDT

1069 High Vista Trail, Webster NY 14580

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Mon, 29 Jun 2009 07:33:21 -0500

Kristal Perrone | Hunt ERA Columbus | 585-615-4810

1069 High Vista Trail, Webster, NY

Wonderful Three Bedroom Colonial In Webster!

3BR/1.5BA Single Family House

offered at $152,900

Year Built	1964
Sq Footage	1,668
Bedrooms	3
Bathrooms	1 full, 1 partial
Floors	2
Parking	2 Covered spaces
Lot Size	.41 acres
HOA/Maint	$0 per month

DESCRIPTION

Wonderful well maintained 3 bedroom, 1 and a 1/2 bath colonial in an excellent neighborhood with easy access to the 104 expressway. This property sits near a peaceful cul de sac. The windows, a/c, furnace, & hot water tank have all been updated within the past 5 years. New gutters also. This home has hardwood floors through out. There is a wood burning fireplace in the family room with sliding glass doors that go out on to a freshly stained deck. There is also a large 10X20 Amish shed for storage as well as a dog kennel with access from the large garage. The pool is ready for summer fun. The basement walls and floor have been freshly painted. All appliances including the washer and dryer are included as well as a 12 month warranty for peace of mind for the buyer.

More pictures at www.rochesternyforsale.com

see additional photos below

PROPERTY FEATURES

Central A/C	Fireplace	Hardwood floor
Family room	Living room	Dining room
Dishwasher	Refrigerator	Stove/Oven
Basement	Washer	Dryer
Laundry area - inside	Balcony, Deck, or Patio	Yard
Swimming pool

OTHER SPECIAL FEATURES

Excellent Location- Easy Access to 104 Expressway

ADDITIONAL PHOTOS

Welcome	10X20 Amish Shed
Kitchen	Dining Room
Family Room	Freshly Stained Deck

Contact info:

Kristal Perrone

Hunt ERA Columbus

585-615-4810

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 27, 2009, 4:30am PDT

1478 Lake Rd West Fork, Hamlin, NY

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Mon, 29 Jun 2009 07:30:18 -0500

Kristal Perrone | Hunt ERA Columbus | 585-615-4810

1478 Lake Rd West Fork, Hamlin, NY

Excellent Opportunity In A Great Location in Hamlin.

Business Opportunity

offered at $139,900

Year Built	1985
Sq Footage	3,136
Floors	1
Parking	Uncovered spaces
Lot Size	2.16 acres
Maint	$0 per month

DESCRIPTION

Car Wash and Laundromat in a great location on over 2 acres. Updated boiler and H20 tank. 3 Phase electrical. 3 Bays with wands, one automated. 8 washers, 12 dryers. 1/2 bathroom also. Price is for land & building only-$169,900 if business and equipment are included.

see additional photos below

PROPERTY FEATURES

Laundromat/ Car Wash

LOCATION FEATURES

Over 2 Acres

Easy Access

OTHER SPECIAL FEATURES

If you need land, and a place for storage, or a business-this is the one!

ADDITIONAL PHOTOS

Photo 1	Photo 2
Photo 3

Contact info:

Kristal Perrone

Hunt ERA Columbus

585-615-4810

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 13, 2009, 8:19am PDT

18 Heritage Woods Court- Greece, NY

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Mon, 29 Jun 2009 07:27:04 -0500

Kristal Perrone | Hunt ERA Columbus | 585-615-4810

18 Heritage Woods Court, Rochester, NY

Well Maintained Split Level On a Peaceful Lot

3BR/2BA Single Family House

offered at $147,900

Year Built	1979
Sq Footage	1,898
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	3
Parking	Unspecified
Lot Size	.43 acres
HOA/Maint	$0 per month

DESCRIPTION

Well maintained 3/4 bedroom, 2 full bath, split level nestled on a peaceful wooded lot in a cul de sac. This property has an open floor plan with ceramic & hardwood floors. The kitchen has plenty of storage and the master bath has been updated. This home has a wonderful lower level with a wood burning fireplace in the family room, as well as a bonus room that can be used as an office or a fourth bedroom. There is also a rec room and a wet bar. Relax on the deck that can be acccessed through the sliding glass doors off of the dining room. If you're looking for a private retreat, on a quiet street with easy access to the expressway, this is the one!

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
Hardwood floor	Tile floor	Family room
Living room	Bonus/Rec room	Office/Den
Dining room	Dishwasher	Refrigerator
Microwave	Stainless steel appliances	Basement
Laundry area - inside	Balcony, Deck, or Patio	Yard

ADDITIONAL PHOTOS

Photo 1	Photo 1
Photo 2	Photo 1
Photo 2	Photo 1

Contact info:

Kristal Perrone

Hunt ERA Columbus

585-615-4810

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 29, 2009, 4:08am PDT

Flower City Days at Rochester's Public Market

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Tue, 05 May 2009 08:13:44 -0500

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.

2060 Salt Road in Penfield, NY -4 Bedroom Colonial With Over 5 Acres!

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Wed, 11 Mar 2009 17:55:25 -0500

Kristal Perrone | Hunt/ERA | 585-615-4810

2060 Salt Road, Penfield, NY

Unique Property On Over 5 Acres

4BR/2.5BA Single Family House

offered at $229,000

Year Built	1987
Sq Footage	1,822
Bedrooms	4
Bathrooms	2 full, 1 partial
Floors	2
Parking	2 Covered spaces
Lot Size	5.2 acres
HOA/Maint	$0 per month

DESCRIPTION

Welcome to paradise. Enjoy country living without giving up the conveniences of city life a short distance away. This property is a charming colonial that sits on five flat peaceful acres within the Penfield school district. This is a great private place to de-stress after a long day, and watch the horses play, go for a swim in the pool, or cook out on the patio. It has a newly carpeted great room with vaulted ceilings, skylights, and a gorgeous brick ceiling to floor wood burning fireplace. There is also a spacious eat in oak kitchen with sliding glass doors, and a pantry. The appliances are included along with a 12 month home warranty for your peace of mind. There is also a formal dining room area for entertaining.

There are two full baths on the second floor, and one more half bath on the first floor. There are three bedrooms upstairs and another one on the first floor. The three bedrooms upstairs all have large closets. The master bedroom has a walk in closet, double sink bath area, and a hot tub with a great view. The lower level room can also be used as a den, or an office. There is a first floor laundry area as well.

There is a 2.5 car garage that is heated with a workbench area, and an overhead storage area above it. The new furnace and central air were installed in 2005. The tall basement is high and dry. This is a unique property with a lot of potential to add on if needed.

For more pictures go to: www.rochesternyforsale.com

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Family room
Living room	Office/Den	Dining room
Breakfast nook	Dishwasher	Refrigerator
Stove/Oven	Basement	Laundry area - inside
Balcony, Deck, or Patio	Yard	Swimming pool
Jacuzzi/Whirlpool

ADDITIONAL PHOTOS

Welcome to 2060 Salt Rd	Aerial View
Great room	2nd View of Great Room
Eat In Kitchen	Kitchen

Contact info:

Kristal Perrone

Hunt/ERA

585-615-4810

For sale by agent/broker

Equal Opportunity Housing

Posted: Mar 11, 2009, 5:53am PDT

Top Five Turn Offs For Buyers- Yuk, P U, Gross!

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Mon, 23 Feb 2009 13:33:00 -0600

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 Offs For Buyers:

1. Smells
Does your house stink? Do you have pets? We may love our pets, but other people may not like their smell. Clean the litter box, and clear the yard of land mines from the dog. Vacuum the hair. If you smoke, do it outside. Try not to cook with garlic and onions. Use fabreeze, and open windows for fresh air when you can.

2. Dirty
Do you see dust, and cobwebs? Then potential buyers see it too. Mop the floors. Scrub the appliances. Empty the garbage cans. Don't leave dirty laundry on the floor. Make everything shine.

3. Clutter
Is there stuff everywhere? Nicknacks, trophies, collections, pictures? You don't want a buyer asking "where's the house?" Box it all up. You're going to be moving anyway. Do this before it goes on the market. Make it look like a showroom. Simple, clear, spacious.

4. Dirty Bathrooms
Nothing says gross more than soap scum and hair in the bath tub, and tooth paste stuck to the sink. Scrub the bathrooms. Make them sparkle.

5. Owner Being Home
Buyers feel uncomfortable when the owners are there. They will not stay as long. They may not like the owner. They don't feel free to express their concerns. Go for a ride, go shopping, go visit a friend. Just don't be there.

Give buyers time alone to see the value of your home. Make them want to be there and even better, to come back for a second look.
It's interesting to see how common these complaints are. They are easily avoidable. These simple steps will go a long way in getting your home sold.

More Information on the New 8,000 Tax Credit For First Time Home Buyers

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Thu, 19 Feb 2009 03:01:03 -0600

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

Irondequoit NY Public Meeting To be Held For The Newport House

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Thu, 19 Feb 2009 02:35:10 -0600

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 the town's Web site.

Rochester NY Mayor to Meet with President Obama

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Thu, 19 Feb 2009 02:12:36 -0600

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.

New 8,000 Tax Credit For First time Home Buyers- No Repayment

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Mon, 16 Feb 2009 16:44:32 -0600

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 are maximum $75,000 for a single buyer, and $150,000 for a married couple.

The credit will be claimed on a tax return to reduce the purchaser's income tax liability. If any credit amount remains unused, then the unused amount will be refunded as a check to the purchaser.

15,000 Proposed Homebuyer Tax Rebate Has Been Eliminated

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Wed, 11 Feb 2009 23:05:06 -0600

There is an update on the stimulus plan. A new agreement has been reached on the the newest stimulus plan which is coming in at $789 Billion right. Unfortunately, the newest deal also has effectively cut out the proposed $15,000 Home Buyer Tax Credit.

One of the keys to jump starting housing again, as of now has been eliminated from the Stimulus Plan. The main reason cited for it's removal was to try to lower the cost of the plan.

The good news is there is a possibility that the $7500 tax credit will not have to be paid back. We'll keep watching.

Change Might Very Well Be Coming- 15,000 Tax Credit For Home Buyers

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Thu, 05 Feb 2009 20:52:39 -0600

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 money will come from, and who will end up paying the price some day.

What we have currently: A $7,500 First-Time Home Buyers Tax Credit

A buyer has to meet the following requirements to claim the credit:

Bought a main home in the U.S. after April 8, 2008 and before July 1, 2009
Did not own any other main home within 3 years of this purchase
Made less than $95,000 (for individuals) or $170,000 ( for married couples) in 2008

Currently, the taxpayer claims $7,500 on the tax return, but is required to pay back that amount over a 15-year period.

But now a $15,000 home buyers tax credit may replace the existing 15-year interest free $7,500 loan.

As part of the negotiations behind the American Recovery and Reinvestment Act of 2009, otherwise known as the 2009 economic stimulus package, a $15,000 tax credit has been slated to replace the original $7,500 tax break if the plan is ultimately passed.

Senator Johnny Isakson, a Republican from Georgia, has pushed for both the $7,500 and $15,000 tax credits. He believes the homebuyer tax credit measure that revived the housing market in 1975 can work again today. You can read more here: $15,000 Homebuyer Tax Credit

What we could have soon : Right now they are saying the amount of this tax credit would be $15,000 or 10 percent of the purchase price, whichever is less, and may be good on the purchase of a home for up to one year when it is passed. They are also saying this would be for all home buyers, not just new home buyers. This tax credit would not have to be repaid.

Many home buyers are just starting to hear about this, and some are confused as to what the $15,000 homebuyer tax credit would entail. Buyers who purchased last year are wondering if it is going to be retroactive. Those who already claimed the $7500 are wondering what happens now. We don't have the answers yet.

First, we will have to wait to see if it passes. Then we'll find out what the rules are, and who will be entitled to it. It's too soon to know.

My question to you is: Do you think this is a good idea? Would it push you to want to purchase a home? Do you think it will change the housing market?

Rochester, NY Facts and Points of Interest

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Mon, 02 Feb 2009 09:21:22 -0600

Rochester is a city in Monroe County, New York State, south of Lake Ontario in the United States. The Rochester metropolitan area is the second largest economy in New York State, behind the New York City metropolitan area. Known as The World's Image Centre, it was also once known as The Flour City, and more recently as The Flower City.

Rochester is a great place to live, with something for everybody. The greater metropolitan Rochester area is home to many people with an eclectic mix of ethnic backgrounds and religions. And it seems that no matter how far away you get, you're still just 20 minutes away from any place else.

Rochester's city population is approximately 207,000, making it New York's third largest city.

Rochester has 19 suburbs with an additional 800,000 people. The mayor of Rochester is Robert Duffy, the former chief of police. He is tough on crime, which makes him a great leader. Rochester has 537 miles of streets, 52 bridges, 11 public libraries, and 7 police stations.

Rochester was ranked #6 among 379 U.S. Metro areas in the 25th edition of the Places Rated Almanac for Most Livable Cities. In 2007, Rochester was ranked as the top city in the country by Expansion Management Magazine for quality of life.

Rochester is home to Kodak, Bausch and Lomb, Xerox, Paychex, Wegmans, and other well known businesses.

Because of the high prevalence of imaging and optical science among the industry and the universities, Rochester is known as the world capital of imaging. The Institute of Optics of the University of Rochester is ranked number one in the country^,and the Rochester Institute of Technology has one of the best imaging science departments in the country. In 2006, the University of Rochester became the largest employer in the Rochester area, surpassing Kodak.

Points of interest

The George Eastman House International Museum of Photography and Film, the World's oldest photography museum

The Eastman Theatre

Strasenburgh Planetarium, Rochester Museum & Science Center

Blue Cross Arena at the War Memorial
Cobbs Hill Park and Reservoir
Eastman Business Park
Ellwanger Garden
Genesee Country Village and Museum, about 20 miles (32 km) away
George Eastman House International Museum of Photography and Film
Geva Theatre Center
Hamlin Beach State Park
High Falls and the High Falls Entertainment District
Highland Park
House of Guitars
Liberty Pole
Little Theatre, one of the oldest art-house movie theaters in the country
Maplewood Park Rose Garden
Mendon Ponds Park
Midtown Plaza, the nation's first downtown shopping mall
Mount Hope Cemetery, Rochester, the nation's first Victorian cemetery
Nick Tahou Hots featuring the Garbage Plate and a charity run in its name
Ontario Beach Park and the Port of Rochester at Charlotte
The Rochester Auditorium
Rochester Institute of Technology
Rochester & Genesee Valley Railroad Museum
Rochester Riverside Convention Center
SeaBreeze amusement park.
Seneca Park Zoo, one of the top three family attractions in the area
Strong - National Museum of Play, nation's second-largest children's museum housing the National Toy Hall of Fame
Strasenburgh Planetarium, part of the Rochester Museum & Science Center
Susan B. Anthony House
Times Square Building, noted for its "Wings of Victory" statue.
University Avenue and Park Avenue Artistic Districts
University of Rochester
University of Rochester Arboretum
University of Rochester's Eastman School of Music and Eastman Theatre
Water Street Music Hall

There are many things to see and do in this great city. Come and visit.

Polar Bear Plunge in Rochester NY- Freezin For a Reason

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Sat, 31 Jan 2009 11:55:45 -0600

The annual Polar Bear Plunge will take place Sunday, February 8, 2009 to raise money for Special Olympics NY. it will be held at Ontario Beach Park in Charlotte.

The lake is currently 34 degrees, but people are going to be freezin for a reason!

Rochester's Polar Bear Plunge has become one of Rochester, New York's Most Exciting Fundraising Events. And since the Polar Bear Plunge will be a part of the Lakeside Winter Celebration at Ontario Beach park, Charlotte, you can make a day of it and enjoy all the festival has to offer. There are many ways to become involved with the Polar Plunge this year and years to come. There are opportunities for Sponsoring, Volunteering, and of course Plunging! There will be ice sculptures, the Chilly Chili Challenge, sleigh rides and more.

Buy a Hyundai and Give It Back If You Lose Your Job

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Tue, 27 Jan 2009 12:53:34 -0600

Hyundai Motor America is offering a new incentive to those concerned about job loss.

If you buy a new Hyundai and lose your job within a year, you can give it back. They are including other life changing events as well such as personal bankruptcy if self-employed, getting transferred overseas and accidental death.

They are currently the only dealer offering this nationally. The program pays the difference between the car's trade-in value at the time the owner files a claim and any remaining balance on the loan up to a maximum of $7,500.

I wonder if people will take them up on this offer.

Rochester NY Is Rated as One of The 25 Strongest Housing Markets

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Tue, 20 Jan 2009 22:31:40 -0600

They say real estate is local. Meaning it depends on where you live. I am fortunate to live in Upstate NY. Even Forbes seems to think so. Rochester NY was rated as one of the strongest housing markets on their list. You can see the full article here: America's 25 Strongest Housing Markets - Forbes.com

We didn't have huge gains, therefore we are not seeing the huge drop like other areas are. The negative publicity may have slowed things down a bit but our market is generally a stable one. Home values have increased an average of 3% here in the last five years.

The 25 Strongest Housing Markets Are:

McAllen, Texas
Syracuse, New York
Pittsburgh, Pennsylvania
Buffalo, New York
El Paso, Texas
Tulsa, Oklahoma
Houston, Texas
Charleston, South Carolina
Little Rock, Arkansas
Birmingham, Alabama
Fort Worth, Texas
New Orleans, Louisiana
Dallas, Texas
Austin, Texas
Rochester, New York
San Antonio, Texas
Augusta, Georgia
Baton Rouge, Louisiana
Memphis, Tennessee
Oklahoma City, Oklahoma
Albany, New York
Indianapolis, Indiana
Columbia, South Carolina
Scranton, Pennsylvania
Omaha, Nebraska

Interesting Facts About Rochester New York

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Tue, 20 Jan 2009 21:07:13 -0600

Interesting Facts from Rochester, NY

Actors & Actresses
Buffalo Bill Cody lived in Rochester in the 1870s and buried three of his children at Mt. Hope Cemetery. Silent movie vamp Theda Bara attended high school here in the 1900s. The 1920s were a very active time for film stars in Rochester--Mickey Rooney began his career here, Bette Davis was fired from a theatre stock group, and Bud Abbott managed a theatre here before being paired with Lou Costello. In the 1930s, Jay Silverheels, best known as "Tonto," attended high school in Rochester while Kirk Douglas worked in a steel mill here. Later, Foster Brooks, Robert Forester, and Mimi Kennedy all began their careers in shows for Rochester Community Players the oldest community theatre group in New York State.

Carousels
Ontario Beach Park is home to the only antique carousel in the country never to have been moved from its original location, a 1905 Dentzel menagerie carousel that was the first model of its kind produced.

Clothing
In the 1840s, baby shoes were first developed in Rochester by Jesse Hatch while Amelia Bloomer added the undergarment that carries her name. Rochester company, Hickey-Freeman, is the largest manufacturer of tailored men's clothing in the U.S. with its suits known around the world for their quality.

Communications
Western Union was founded by Rochesterian Hiram Sibley in 1857, and James Cutler created the Cutler Mail Chute here in 1889 for a skyscraper of his own design.

Dental Successes
America's first "gold tooth" was developed and used by Rochester dentist Dr. J.B. Beers in 1843. Several decades later, Frank Ritter designed the first dental chair in 1887.

Food
The flour used to make graham crackers was first developed by Rochesterian Sylvester Graham in the 19th century and commercial marshmallows were first mass produced here in 1895 by Joseph B. Demerath. In nearby LeRoy, New York, Pearl B. Wait created the food phenomenon known as Jell-O in 1897. And the first production of prepared mustard, by the R.T. French Company, took place in Rochester in 1904.

Health Care
The first thermometers in the U.S. were manufactured in Rochester in 1851 by George Taylor and David Kendall. The world's first synthetic vitamin A was also manufactured in Rochester--by Eastman Kodak Company!

Music
The University of Rochester's Eastman School of Music is regarded as one of the best in the country and its Eastman Theatre ranks as one of the finest concert halls in America. In addition, its Sibley Music Library has the largest collection of sheet music in the world.

Musicians and Singers
Cab Calloway was born in Rochester in 1907 and Mitch Miller in 1911 followed by singer/actor William Warfield, Lou Gramm, and Chuck Mangione.

Retail
Rochester's Midtown Plaza was the first enclosed urban shopping mall in America.

Star Shows
The world's first Zeiss Model VI planetarium projector was purchased and installed in 1967 in the Rochester Museum & Science Center's Strasenburgh Planetarium.

Voting
In 1872, Susan B. Anthony was the first American woman to vote in a presidential election and be arrested for doing so. A voting machine was later invented in Rochester in 1889.

Google to Cut 100 Jobs, and Close Offices

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Fri, 16 Jan 2009 09:39:49 -0600

It appears that Google is feeling the pinch of the recession. Or preparing themselves for the long haul. They will be closing three engineering offices, and cutting 100 recruiters. Their global work force has over 20,000 people. They will soon stop accepting new users for Google Notebook, and Google Catalog search. Google video will no longer accept user uploads.

You can read the full article Here

Expenses of a Real Estate Agent

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Fri, 09 Jan 2009 08:35:57 -0600

Public perception is that real estate agents make a very good income. Some people think agents make too much money for what they do, but is it true? Is it really that easy? Everyone strives to be paid well, and be appreciated for their efforts. A real estate career can be very rewarding and profitable, but like anything else it requires a good amount of work and commitment. Maybe you are considering a career in real estate, or maybe you're a seller hoping your agent will lower their fee. Either way, this article will give you a better understanding of the expenses that a real estate agent has.

Many people do not realize that real estate agents are self employed independent contractors. Agents do not receive weekly paychecks as a regular employee would. There are no paid vacation days. They also do not receive the benefits of health and dental insurance, nor a pension or 401.

Not all companies are the same, but this will give you a general idea on what usually happens. The costs of doing business can easily cut in to any profit the agent may receive. In Rochester, NY generally a home owner will pay a 6% commission to sell their home. By law commissions are negotiable so this amount can be different, but for discussion purposes, let's say the amount is 6%. The listing brokerage receives 3%. The other 3% will generally go to the buyer's broker. The agents themselves receive approximately 50% of that amount. In the end, each agent generally receives 1 ½ % of the total commission. Out of that amount, the agent will need to pay for expenses incurred to complete the sale. These fees range depending on the agent, and the company they work for.

Below is a list of expenses an agent may have. In many cases, a good real estate agent who invests in their business to serve their clients better will have higher expenses. I personally have invested a good amount in modern technology to provide top notch service more efficiently.

1. Board/MLS dues 11. Desktop computer or laptop

2. Errors & Omissions Insurance 12. Quality camera

3. Franchise fee for each transaction 13. Continuing education classes/courses/designation fees

4. Business cards/name tags 14. License fee

5. Direct Mailings (postcards,etc.)-Postage 15. Office supplies-ink, paper, etc.

6. Professionally made brochures/flyers 16. Fax, scanner, printer, copier

7. Print Advertising (newspaper, magazine ads) 17. Business clothes

8. Cell phone with data plan for client email 18. Closing gifts.

9. GPS for car 19. Lockboxes, electronic key, flashlight(s)

10. Internet; Web site domain and hosting 20. Gas, gas, did I mention gas?

21. Signs: Yard, open house, and name

22. Car expenses

Then there are those pesky self employment taxes that need to be paid. Feel free to comment, or add anything I may have missed.

Pictures courtesy of www.publicdomainpictures.net

Wednesday With Words

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Wed, 07 Jan 2009 21:51:17 -0600

Rochester, NY's proximity to Lake Ontario and its being on the Genesee River and the New York State Canal System makes it ideal for boating. Rochester, NY is also close to the Finger Lakes of Upstate New York.

Sunday Swans in Rochester, NY

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Sat, 03 Jan 2009 23:50:46 -0600

I took this picture in the summer of 2008 while we were waiting to be seated at The Bayside resteraunt on Irondequoit Bay in Rochester NY. There are many swans that make the bay their home. I have read that swans have the same mate for life. They are usually seen in pairs. I am looking forward to seeing them again when the snow clears.

Tips on Buying a House in Rochester, NY

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Tue, 30 Dec 2008 11:42:40 -0600

You've decided that you'd like to buy your first house or purchase a new one. Where do you start?

Credit

Well, the first thing you need to do is find out how your credit is and how much you can get pre-qualified for. There is no point in looking at houses above your price range. This will only lead to disappointment when you have to start looking for a home that you can afford.

The most important thing these days is your credit score. I can't stress enough how important this score is for many things in life. From a mortgage loan, to a car loan, employers, or a landlord check before renting, your ability to be trusted is tied to this number. It is very important to pay your bills on time. It's even more important not to be late on an existing mortgage payment. A lender may turn you down if you have been late or missed payments on your current mortgage. The interest rate you will receive is based on this credit score. The higher your number, the better rate you will receive.

You can get a free credit report online, and check for problems before starting your home search. A good site to use is www.annualcreditreport.com

You can get a free credit report once every 12 months. Some sites charge a small fee if you want your FICO score along with the credit report. FICO stands for the corporation that developed it: Fair Isaac Corporation.

Typically lenders will throw out the top and bottom score and keep the middle score. Make sure you are receiving a genuine FICO score or NewGen score. Each credit bureau has a different name for its FICO score. Equifax is Beacon. Experian is Experian / Fair Isaac Risk Model and TransUnion is Empirica. Everything else is an imposter.

The FICO score your lender gets and the FICO score you can order yourself will most likely be two different scores, so don't expect the score you receive to match. FICO scores range from 300, which is very bad, to 850, which is the very best.

You may have heard someone say they have a score of 930, and you thought that was impossible because 850 is the highest score you can get. They were being honest. They are referring to a Vantagescore, not a FICO score.
A competitor to FICO is VantageScore, which is a different way to compute credit qualifications. This scoring model assigns a letter grade, from A to F, and was created by the three credit bureaus. Lenders here in Rochester are using FICO scores as of this writing, but here is how it breaks down as scores are grouped and then rated:

•· A: 901 - 990

•· B: 801 - 900

•· C: 701 - 800

•· D: 601 - 700

•· F: 501 - 600

Pre-Approval Process

There are four main things to keep in mind before, and during the home buying process. 1. Don't make any large purchases until after your closing day. If you must purchase something, do it with cash. 2. Don't switch jobs. 3. Don't move money around in accounts. 4. Don't cancel any credit cards.

Lender

You now know what's important, and what to avoid. If you want to go straight to the source you'll need, you can just call a mortgage lender and have them pull your credit, and tell you your score. If you need help finding the right lender I can offer recommendations of lenders who have done phenomenal jobs for my clients in the past. A good lender can counsel and guide you to the most advantageous and appropriate program for your needs.

Down Payment & Closing Costs

The days of no money down loans are over. It's best to save as much as possible on your own before buying a home. You will need money for a down payment and closing costs. Your mortgage consultant will give you a good idea on what these costs will be. If you don't have the funds required for closing costs, it is possible to ask the seller to agree to give you a credit towards them at closing. This is called sellers concessions. A mortgage consultant can pre-qualify you or pre-approve you for a loan. A pre-approval is best. This is when your income and assets are verified. The reason this is important is it gives you more buying power. A seller will want to know if you can get a loan. Therefore it is always best to have a pre approval letter included with your offer.

Earnest Money Deposit

You will also need to write a check for an earnest money deposit. If the offer is accepted the check will be deposited within 24 hours. It will be held in an escrow account. This deposit will be applied towards your down payment.

Inspections

You will also need funds for inspections. Inspections are typically done within 7 days of an accepted offer. There are a few different types of inspections you can have done. You do not have to have any done if you don't want to. The main ones are an engineer's inspection, a pest inspection, mold inspection, and a radon inspection. Septic and well inspections are usually done by the seller if the property contains them. I suggest getting an engineer's inspection done because it's a good way to get a professional opinion on the condition of the home. You will receive a report when it is over. An inspector also gives useful advice on maintaining the property in the future.

Mortgage Application

If your offer is accepted you will need to apply for a mortgage right away. You will need to pay an application fee, and for an appraisal to be done on the property. We offer a discount on this to our clients.

Attorney

In New York closings are done by attorneys, so you will need one. It is best to have an attorney that specializes in real estate transactions. You can use whatever attorney you'd like. If you don't have one, I can recommend attorneys who give discounts through our Hunt Realty Club. Your attorney will review the contract with you. A contract does not move forward without attorney approval.

Home Owners Insurance

The week before closing, you will need to purchase home owners insurance on the property. It's important to protect your investment. The lender will most likely require you to pay one year in advance.

A Buyer's Agent

Now you have a good idea what is involved in the process. You will need a Realtor on your side that only works for you. The listing agent works for the seller. You need a Realtor to represent you, and your interests. You don't have to pay for a buyer's agent. A buyer's agent is free to you, and protects your interests. A buyer's agent fee comes out of the proceeds at closing.

My job as your buyer's agent is to help, and support you to make the best decision for your family. You will never feel pressure to buy a certain property. Buying a house is a very important decision, and I want you to be happy with that decision. I will be there for you for months if that is what it takes. I'm always on time, and I give quick responses to calls, emails, and texts. I also give nice closing gifts. All I ask for is loyalty in return. It's best to spend time with one Realtor and let them get to know you, and what you like, or don't like.

The Search

Once you have been pre-approved we can talk further about what features and criteria are most important to you in your new home. Is a short commute to work important to you? Good schools? We will identify what are "must-haves" and what are "would like to have, but are not deal breakers." Once we have determined what you are looking for I will email you properties that fit your search criteria as they hit the market.

I realize you can look for homes on your own on the internet. The problem with that is sometimes the information is outdated. I have had people call me on homes that had sold the week before. Even after agents change them to pending in the MLS, some sites do not update quickly. As a Realtor, I pay dues to be a member of the MLS (multiple listing service) this gives me access to more information than the average consumer. I know about a new listing before the general public. I can find out if it really did just come on the market, or if it was listed with another agent for the past few months. I can also find out how much the home down the street actually sold for, not what a neighbor said. This is important information to know. I can set up your own web page that is updated nightly so you only see up to date information.

Drive By and Appointments

If you see a property that you are interested in, take a drive by it. Do you like the street, the neighboring houses, and the yard? If you do, then call me. I make it a point to try to answer my phone at all times. If I'm with a client, or in a meeting I will call back right away.

As you find homes that interest you I will arrange for us to view them in person. Before I meet with you I will go over the property condition disclosure and let you know if there are any problems. As your agent I will point out to you issues that you should consider when making your decision, especially features that could affect your resale positively or negatively down the road. It is easy to get caught up in the beauty of a property but you need to know the good and the bad so that you can make an informed decision.

The Offer

If you find a home you really like, I will find comparable properties that sold recently, and show or email them to you so you can make an informed decision. I will let you know if I think the home is overpriced. Once an offer is accepted it will take time to get to closing. It could take a good six weeks to close. It's important during this time that you try to be patient and understand that many people are working behind the scenes on your behalf. I will stay in touch with you on a regular basis during this time.

I have already mentioned various things in the beginning of this post so you are prepared ahead of time. There are other things that are done, but the main ones are here.

Final Walk Through

A day or two before closing we will take a final walk through of the property. You will need to call your utility companies and have them turn things on in your name. We will check to make sure everything is in working order.

Closing Day

This is usually done at the attorney's office. The paralegal will let you know what you need to bring. Your attorney will be there to help you. You will have many papers to sign. You will receive your keys to your new home on your closing day.

Then it's time to move in and make the house a home. This is also a good time to celebrate, and look forward to the many happy memories you will have.

If you or anyone you know, has questions or needs help with real estate in Rochester, NY, feel free to contact me.

Kristal Perrone, 2008 Agent of the Year

My Wish For You In 2009

Kristal Perrone - Rochester New York- (Hunt Columbus ERA) — Mon, 29 Dec 2008 21:30:08 -0600

I would like to wish all my friends and family a Happy New Year!

I know some have had a tough time in 2008, but soon that will be behind us. The economy is not as good as we would like it to be. My wish for you is that you find a way to hold on to hope. Hope for a better future. Hope for a better tomorrow. With hope and a little bit of work we can make 2009 a great year. One person at a time. One step at a time. Lets look within and find out what we would like to change, and what steps we are going to take to make change happen. My wish is that we can find compassion when we deal with people in our daily lives. They may be struggling with more than we know. Let's hope they hold on to hope also, and make it through.

I hope you stay safe this holiday season and enjoy your family and friends.
My wish for you is that you look forward with hope, and try to make 2009 a great year with happy memories.