The Rochester Real Estate Blog

Murphy's Law of Real Estate

Kristen Wahl (Kristen Wahl, RealtyUSA) — Wed, 16 Dec 2009 20:18:52 -0600

As with everything in this world, real estate is subject to Murphy's Law: "Anything that can go wrong will go wrong." This often translates to the fact that, whenever it's the least convenient to show a listing, that's when a ton of calls come in from agents who want to show it. When the sellers are having family in from out of town, when they're planning a huge party for their children, etc. That's when it happens.

Murphy's Law of Real Estate seems to be asserting itself with one of my listings in Irondequoit this week. The property was occupied by tenants who were very cooperative about showings. Every time I called them about a showing, they made it happen, and even went so far as to clean up the house beforehand. Anyone who has worked with tenants probably knows that's not usually the case! Unfortunately, I didn't get to take advantage of their fastideousness very often, because I've been getting surprisingly few calls on this charming home.

That's why, when I received a call from an agent this past Friday, I was excited to get a chance to show this listing again! I immediately e-mailed my seller with the exciting news, only to hear back that he was taking his tenant to eviction court on Monday for non-payment. Ugh. Not a good time to be barging in on the tenant. It looked like that showing would have to wait.

Then, earlier this evening, I received an e-mail from another agent asking if this property was available. Luckily, when I explained the situation she said her buyers could wait, but she warned me they were "hot to buy". It sounds like if we don't get them in soon, we could lose them.

I've had this listing for two months; why did both buyers have to choose now to want to take a look?

Hopefully, both of these buyers will still be around when the tenants vacate the home and I can begin showing it again. But this situation just reminded me of how real estate always keeps me on my toes!

I wonder if Murphy was a Realtor??

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I am proud to help buyers and sellers in the Greater Rochester, New York area find the homes of their dreams. If you are considering purchasing or selling a home in the Rochester area, don't hesitate to contact me. I pride myself in providing the best possible service for my clients!

When you work with me...

Visit my website at www.YourNYDreamHome.com to learn more about the services I offer!

Sellers: Find out how much your home is worth by requesting a FREE Home Evaluation!
Buyers: Become a savvy consumer by requesting FREE Home Buying Tips!

Contact:
Kristen Wahl
Realtor Associate
(585) 455-5524
KWahl@RealtyUSA.com

TRADE UP! 5 Reasons why this is the BEST market to upgrade!

Kristen Wahl (Kristen Wahl, RealtyUSA) — Mon, 14 Dec 2009 19:23:27 -0600

This is a informative post by an agent in California. The numbers may be a bit high for the Rochester area, but the reasoning is right on the money!

Via Daniel Dima Batsalkin (Boulevard Realty):

Have you thought about getting that bigger, better house in a better neighborhood?

NOW IS THE TIME!

Whether you need more space, want to upgrade your location, or for any other reason, the current real estate market presents a unique opportunity to capitalize by trading up!

5 reasons why this is the best market to trade up!

1. You will make money NOW on the trade!

Here's how this works. You currently own a condo that was worth $1,000,000 three years ago, and now it's worth $700,000 (that's right, it's gone down 30%!). You may be thinking, I've lost $300,000, right? Wrong!

What you do is go out and sell your condo and purchase the home of your dreams for $1,400,000. That house, three years ago, was worth $2,000,000 and you probably couldn't have afforded it. By buying it now, what you've just done is bought your new home at a $600,000 discount! Just like that, on the trade, you've made $300,000! This doesn't even take into account the money you'll save on property taxes because you're paying taxes on a $1.4M house, and not on a $2M house.

2. ... AND you will make money LATER when you sell your new home!

OK you've listened to my advice, bought that new home of your dreams and traded up. YES! Fast forward five years and the real estate market has gone up 20%. Let's take a look at what has happened. Your old condo is now worth $840,000, for a $140K gain over today's value. Your new home is worth $1,680,000, or $280,000 more than when you bought it today. Just like that, you've made an extra $140,000 on the trade!

3. You can likely buy a house you otherwise could not have afforded, and may not be able to afford again!

Going back to my example above, you probably couldn't have afforded that $2M house three years ago when you bought your condo. You also may not be able to afford it again in 3 - 5 years when the market rebounds. If you've been dreaming about a bigger home or one in a nicer area, now is really the time to capitalize.

4. It's much easier to trade up in a down market than in an escalating market!

I've had clients say that they will trade up when the market "goes back up." Let's take a close look at that. Let's say that 5 years from now, the market is back up 20% from today's values. You then sell your condo for $840,000 and your dream home is now worth $1,680,000. You've gained $140K on your condo (from today's values) BUT your dream home is now worth $280,000 more! That means that, by waiting, you've now spent an extra $140K to buy that house!

5. You'll probably get a better house by trading up in a down market!

The current market presents some very unique opportunities. In most areas, inventory is pretty high and buyers have a lot of great choices. By shopping in this market, you can really get the home of your dreams and take your pick of all the inventory available. In most cases, you can get a good deal on a great property in a terrific area.

The bottom line is that if you can afford it, now is a terrific time to upgrade! Interest rates remain at historic lows and there is plenty of financing available.

---------------------------------------------------

When do you plan on moving?

Specializing in Los Angeles area residential real estate, including Los Angeles, Beverly Hills, Brentwood, Bel Air, Santa Monica, Sherman Oaks, Valley Village, Studio City, Encino, Tarzana and more!

Hire me for your next real estate transaction because I have a defined and proven plan of action that I follow every day! The benefit to you? Top market price for your home in the shortest amount of time, and your dream home found fast and at the best price and terms! That is what you're looking for in a real estate professional, isn't it?

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DANIEL DIMA BATSALKIN

Principal Broker | C.E.O. | Boulevard Realty

310.933.4281 | dima@blvdrealty.com

www.blvdrealty.com

The Top Five Things "A Charlie Brown Christmas" Can Teach Us About Real Estate

Kristen Wahl (Kristen Wahl, RealtyUSA) — Fri, 11 Dec 2009 16:39:59 -0600

Some fun thoughts from an agent in Illinois! We can always learn from Charlie Brown!

Via Nancy Milton REALTOR/GRI GoshenRealtyGroup.com (RE/MAX Preferred Partners in St.Louis' Illinois suburbs):

As I was re-watching"A Charlie Brown Christmas" (ACBC) this season, it struck me that the terrific life lessons contained in this beloved holiday special could easily apply to those of us who work in real estate -- especially during a year of recession.

1.) MAYBE SMALLER IS BETTER. Charlie Brown's sad little Christmas tree was reviled and then revived with love, faith and a warm, blue blanket. The Peanuts gang understood that -- like a home -- its size didn't matter. In real estate, I am noticing more of my clients embracing smaller homes -- both existing homes and new construction. Maybe its the financial lessons of this recession or the lack of time in their lives to care for an oversized residence, but the drive for bigger and bigger McMansions seems to have lessened. Nationally, according to census data, the average size of a new home fell in 2008 for the first time since 1990 and that trend is expected to continue when figures come out for 2009.

2.) SET IT TO MUSIC. ACBC is set to one of the all-time best soundtracks ever created thanks to the genius of Vince Guaraldi. His trio -- playing piano, bass and drums -- created a jazzy, atmospheric groove that almost didn't make it to air when CBS thought a jazz soundtrack wasn't appropriate for children. (Remember, this was 1965.) If you're selling your home this season, think about leaving this soundtrack on softly for showings or open houses. It's guaranteed to create a warm feeling in potential buyers who are taking a look at your place. Music that will appeal to a wide range of people is always a great idea in the background in any season. Select the Smooth Jazz or Singers & Standards channel from the cable or satellite sytem for example.

3.) EVERYONE WANTS SOME REAL ESTATE. Feeling blue over the commercialization of Christmas and his inability to get into the spirit, Charlie Brown visits Lucy in her lemonade stand psychiatry office. She agrees that it's hard to celebrate the season when she just gets a bunch of dumb toys for presents. What does she really want? Real estate. It's true. The buying and selling of real estate will always be with us. However, the market downturn has shown us that it's the market-priced homes in good condition (like Snoopy's decorated dog house) that will sell. Sellers, if your home has sat on the market for longer than the average time it takes to sell a comparable property, have your agent examine the price against the last three months of comp sales. You may be overpriced for your market, your home's condition or your location. If you're in-between agents or selling by yourself and need a professional, impartial price opinion, give me a call. Buyers, keep in mind that a "Buyer's Market" doesn't mean that you can aquire any home at any time for a penny on the dollar or a lowball offer. It does mean that you can get a good home at a good price based on recent comparable sales. (And right now you also can get it at near-record low interest rates and with a federal tax credit.) The market dictates what a house is worth and every market is different.

4.) TAKE CARE OF YOUR FAITHFUL PET. In various Charlie Brown cartoons, Snoopy and his bird pal Woodstock play hockey on a frozen water bowl. Don't let your furry friend's water turn into a skating pond. Please make sure your pets are brought into a warm and safe place during the chill of winter or the heat of next summer. If your house is on the market, please leave instructions regarding your pets for agents who will be showing your home. Kennel dogs prior to a showing, make sure cat litter boxes are clean and pick up pet toys. Sellers, if you can take the animals and their things with you during a showing, it may help your home appeal to a broader ranger of potential buyers who might not love Fido and Fluffy as much as you do.

5.) EXAMINE THE TRUE MEANING OF HAPPINESS. In ACBC, Linus reminds the kids about the true meaning of Christmas by simply and beautifully quoting scripture from the Book of Luke. In real estate we can take these messages to heart as well. Buyers: Don't expect a new house to make you happy. A new house will give you a warm place that meets your location and structural needs. Then you get to put friends, family, faith, pets and love inside to create a home that will bring true happiness. Sellers, your family home may have given you years of service, but it is just a shell without you and your family and friends inside. Your real home will be wherever you are moving next, so let go of the anxiety and embrace the change whether you're faced with downsizing, rightsizing, upsizing or moving across the country.

Have a wonderful, merry season and don't forget to pop in the DVD or Blue Ray of "A Charlie Brown Christmas" to enhance your holidays.
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About the Author: Nancy Milton, GRI, is a REALTOR with the GoshenRealtyGroup at RE/MAX Preferred Partners in Edwardsville, Illinois. She and Kristina Pratt help their customers buy and sell homes and investment properties in St. Louis' Illinois suburbs with special emphasis on homes for sale in Madison County and the communities of Edwardsville, Glen Carbon, Maryville, Collinsville, Troy, Bethalto and surrounding areas.

Goshen Realty Group takes its name from the earliest nickname for Madison County, Illinois -- the Land of Goshen -- coined when the region's first settlers compared their new home east of the Mississippi River to the biblical land of peace and plenty.

For more information, visit GoshenRealtyGroup.com or e-mail Nancy at Nancy@GoshenRealtyGroup.com. Text or call Nancy at 618-791-8007. REMAX Preferred Partners is located at One 157 Center, Edwardsville, IL 62025.

Please note that individual listings periodically mentioned in this blog are accurately described in terms of availability and price at the time of the posting. Because properties are constantly coming on and off the market, please contact Nancy for the latest information on those that are of particular interest to you.

Appraisals vs. Assessments: The Real Story!

Kristen Wahl (Kristen Wahl, RealtyUSA) — Fri, 11 Dec 2009 16:27:01 -0600

What is the difference between an appraisal and an assessment? That's the question I'll be addressing in this blog entry. I've noticed the two are often confused by buyers and sellers. They tend to use the two terms interchangeably, while in reality they have two very different purposes.

I decided to start my post by consulting the big fat book I received when I got my real estate license, Modern Real Estate Practice in New York for Salespersons and Brokers, Eighth Edition by Edith Lank. Yes, it's still gathering dust on my bookshelf!

According to the glossary, an appraisal is "an estimate of a property's valuation by an appraiser who is usually presumed to be expert in this work."

An assessed value, on the other hand, is "a valuation placed on property by a public officer or a board as a basis for taxation."

You're probably saying, "That's great, but what does that really mean?"

First of all, it's important to know the reason behind each valuation method. Appraisals are typically used by banks to ensure that the properties that are being mortgaged are worth the amount of the buyer's loan. Obviously, they're going to want to be fairly accurate in determining the market value of those properties in case the borrower should default and they are left to resell them. Assessments are typically used by municipalities in order to determine the taxable value of a property. Do they want it to be in the right ballpark? Sure. But it's not as detrimental if they're not spot on with the value.

Secondly, let's take a look at who's doing the valuation in each definition. According to the definitions, an appraisal is done by someone who is assumed to be a professional, and an assessment is done by a public officer or a board. Who do you think is going to have a more accurate estimation? Ding ding ding! Again, it's going to be the appraiser. In New York State, appraisers must have an Associate's Degree and complete 200 hours of coursework and 2,500 hours of experience before they can become licensed to practice their craft. Now, with the HVCC in place, they have to jump through extra hoops to come up with the best value possible. Assessors are government officials who tend to have much less training.

Finally, let's examine the methods used to assess the value of the property. The appraiser makes an appointment with the homeowner, tours the property inside and out, and takes detailed notes. They know the value of the various components of the home and take that into consideration when coming up with their final number. The tax assessor, on the other hand, often does not even enter the property before coming up with the assessed value. They often base it on the information in the tax records, which can be incomplete or incorrect. For example, the owners may have added a new deck or finished the basement, and those improvements are not taken into account.

As a result of these differences, when buyers bring up the assessed value of a property when considering making an offer, I try to dissuade them from letting that number affect their perceptions of the property. Some homes in the Rochester area tend to sell for much less than their assessed value, and some tend to sell for more. It depends on a variety of factors including condition, location or municipality, and acreage. I don't want my buyers automatically thinking the home is overpriced if it's above the assessed value, because often that's not true. The market value of a home is much more complex!

On the other side of the coin, for homes that are very unique or in rural areas without many comparable properties, there have been times I've suggested that my sellers get a appraisal done before I list the property. It gives me an idea of what the bank is going to be willing to lend for the property, which can head off future issues when it comes time for their buyers to apply for a mortgage.

Hopefully this blog entry helped you understand the vast differences between appraisals and assessments. Both have their place in the real estate world, but knowing the difference between the two can make you a more savvy buyer or seller!

*****

When you work with me...

Visit my website at www.YourNYDreamHome.com to learn more about the services I offer!

Sellers: Find out how much your home is worth by requesting a FREE Home Evaluation!
Buyers: Become a savvy consumer by requesting FREE Home Buying Tips!

Contact:
Kristen Wahl
Realtor Associate
(585) 455-5524
KWahl@RealtyUSA.com

New Listing in Arcadia! Spacious Bi-level in over 5 Scenic Acres!

Kristen Wahl (Kristen Wahl, RealtyUSA) — Fri, 11 Dec 2009 14:32:51 -0600

Kristen Wahl | RealtyUSA | kwahl@realtyusa.com | (585) 455-5524

3418 State Route 88 N, Arcadia, NY

Your Own Private Oasis!

3BR/1.5BA Single Family House

offered at $144,900

Year Built	1978
Sq Footage	2,005
Bedrooms	3
Bathrooms	1 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	5.16 acres
HOA/Maint	$0 per month

DESCRIPTION

Room to roam! This spacious 2005 square foot bi-level home is set back on over 5 scenic, partially wooded acres with a large 2.5 car garage, pole barn, and above ground pool. The house features an eat-in kitchen with refinished "shabby chic" cabinets and a breakfast bar, formal dining room w/ sliders to the 2nd story deck, family room with wood stove, & bonus room or possible 4th bedroom. You'll get a feeling of seclusion but be less than 10 minutes from Newark's shopping, restaurants, and movie theater!

see additional photos below

PROPERTY FEATURES

- Family room	- Living room	- Bonus/Rec room
- Dining room	- Dishwasher	- Refrigerator
- Stove/Oven	- Basement	- Laundry area - inside
- Balcony, Deck, or Patio	- Swimming pool

OTHER SPECIAL FEATURES

- Pole Barn

- Wood Stove

ADDITIONAL PHOTOS

Front View	2.5 Car Garage
Living Room	Eat-in Kitchen
Dining Room	5.16 Acre Lot!

Contact info:

Kristen Wahl

RealtyUSA

kwahl@realtyusa.com

(585) 455-5524

For sale by agent/broker

Equal Opportunity Housing

Posted: Dec 6, 2009, 10:34am PST

See all the photos and information at www.3418StateRoute88N.com!

Homebuyer Tax Credit Has Added Benefits for Armed Service Members

Kristen Wahl (Kristen Wahl, RealtyUSA) — Mon, 30 Nov 2009 09:04:43 -0600

Armed Service men and women are often hindered by hardships from full participation in the American Dream of homeownership because their duty disrupts them in the buying and selling of a home. In the past, traveling for active duty made it difficult for members of our armed forced to qualify for the tax credit without penalties.

Thankfully, two special provisions in the present tax credit law assist members of the military, intelligence, and foreign services in taking advantage of the homebuyer tax credit:

Armed services members, intelligence service members, and Foreign Service personnel who are on active duty and out of the U.S. for 90 days during any part of 2009 get an additional year to buy their homes, to May 1, 2011.
Another benefit is a waiver on the time of occupancy of the home purchased with the tax credit. Homebuyers who purchase their home using the tax credit must use that home as a principal residence for a period of no fewer than three years or must forfeit the entire credit. Military, intelligence, and Foreign Service members do not have to repay the credit if they have to sell their home after fewer than three years occupancy due to official business.

All the other usual qualifications apply to receive the Homebuyer Tax Credit.

I think this is a great addition to the tax credit. Now those who serve our country get to enjoy the same benefits as the rest of us!

*****

When you work with me...

Visit my website at www.YourNYDreamHome.com to learn more about the services I offer!

Sellers: Find out how much your home is worth by requesting a FREE Home Evaluation!

Buyers: Become a savvy consumer by requesting FREE Home Buying Tips!

Contact:
Kristen Wahl
Realtor Associate
(585) 455-5524
KWahl@RealtyUSA.com

The Real Reason You Should Sign A Buyer Representation Agreement

Kristen Wahl (Kristen Wahl, RealtyUSA) — Sat, 28 Nov 2009 09:06:19 -0600

A great blog entry about Buyer Representation Agreements. These are becoming more and more common in the Rochester area. I've begun using them as a way of solidifying my relationship with my buyers!

Via Lindsay Walls - Oakville Ontario Realtor (RE/MAX Aboutowne Realty Corp., Brokerage):

If you have spoken to a Realtor about buying a home, you should be familiar with the Buyer Representation Agreement. Like any contract, the Buyer Representation Agreement outlines commitments that your agent promises to make in exchange for commitments you promise to make. Under this Agreement, agents are committed to provide you with the following duties: LOYALTY, OBEDIENCE, DISCLOSURE, CONFIDENTIALITY, REASONABLE CARE AND DILIGENCE, and ACCOUNTING. In exchange, buyers commit to ensuring the agent is paid for services rendered (Note that in most cases, the payment is usually paid by the seller). Legally, realtors are obligated to discuss buyer agency with potential clients at the earliest opportunity.

When I first learned about Buyer Representation Agreements I wasn’t convinced they were really in the best interest of buyers. You can argue that realtors like Buyer Representation Agreements as they bind buyers to them and ensure they get paid regardless of the service they provide. I agree to a certain extent but have quickly determined that as a professional realtor, establishing a Buyer/Agent relationship is the only way I will do business. Here’s why…

As a realtor I meet a lot of people who are looking for information on the Oakville housing market. I receive several emails and phone calls and am happy to spend time discussing real estate issues with potential clients (really I am) but like everything else there is a limit to the amount of hours in my day. Despite what many people want to believe, real estate is much more than setting up appointments and opening up doors. I say this with the utmost honesty as someone who knows the pressures and stress of a corporate job. There is no way I would have chosen to switch careers if I thought the advice of a realtor could just as easily be learned through an MLS or Google search. No one understands the nuances of the local market, future development plans for an area, the art of negotiation, school issues and make-up of specific neighbourhoods like an intelligent, diligent local realtor.

I spend hours upon hours working for my clients and several more keeping up to date with current real estate and housing information. My first priority is to my clients and in order to provide a level of service that I am proud of, I limit my interactions to clients first and prospective clients second. To be brutally honest, I just don’t have time to dedicate the kind of service buyers deserve (sometimes for months at a time) without any kind of commitment of loyalty from them. For me, the Buyer’s Representation Agreement solidifies my commitment of excellence and priority status to you in exchange for your commitment of loyalty to me.

When explained this way, I find that most people have no issues signing the agreement, leading to a relationship built on trust and service. It is the best way I know how to do business. I question buyers who believe that they will somehow get better service or a better deal without using a committed Buyer’s agent. I simply do not understand how they think they will get first class service and advice without any kind of commitment (on either end). Like most things in life, you get out what you put in. If you believe realtors are transactional type people who simply book appointments and unlock doors then you can easily find one that will be willing to provide you with minimal service for minimal commitment. If you expect more out of your realtor, then take your time, find a realtor you trust, have them commit to you, and be willing to commit to them. If you do so, you will be impressed by the advice and expertise you gain from the experience.

Questions or comments? Visit www.lindsaywalls.com for additional information on the Oakville real estate market. Feel free to comment below, email me at lindsay@remaxaboutowne.com or call me at 905.338.9000.

Regards,

Lindsay

Giving Thanks... For So Much!

Kristen Wahl (Kristen Wahl, RealtyUSA) — Thu, 26 Nov 2009 12:05:33 -0600

With Thanksgiving quickly approaching, I decided to take a moment and reflect on what I'm thankful for this year.

I'm thankful for having a job that I truly love and look forward to doing every day. Some people dread getting up and going in to work, and I know I'm blessed to do something I'm passionate about.

I'm thankful for my family and friends, who are always there to love and support me. I couldn't ask for better people in my life.

I'm thankful for my dog, Bear, who brings me happiness and companionship. I've had him for a year and a half now, and I had no clue a single animal could bring me so much joy.

I'm thankful for my health, especially with all the news about flu outbreaks. I know others who gave not been so fortunate.

I'm thankful for my colleagues at RealtyUSA, who are amazing and supportive people. I can't imagine another office where I'd feel so comfortable and appreciated.

It wasn't always an easy year. I lost loved ones, I had close friends suffer from serious illness, and I had my own set of struggles. But in the end, I'm thankful for it all, because it brought me to where I am today.

Regardless of what you may be going through, I hope you're able to take the time today to focus on all the positive things going on in your life. It's amazing what we see when we take the time to think about the blessings in our lives.

Happy Thanksgiving!!

Are the Buyers "Snug in Their Beds" Yet This Holiday Season? Not in Rochester!

Kristen Wahl (Kristen Wahl, RealtyUSA) — Mon, 16 Nov 2009 19:46:38 -0600

It's the week before Thanksgiving. It's the time of year when people start snuggling in for the holidays and stop thinking about buying or selling their homes until next spring... right?

WRONG! At least that's not my experience this November!

I'm sure the market in the Rochester area will slow down over the holidays, but it hasn't happened yet! My buyers are still actively searching for homes, and a surprising number of the listings I've called to show in the past week have accepted offers.

Plus, I held an open house at a townhouse in Penfield yesterday, and I had 17 parties through! My average is usually around 3. This was like Grand Central Station! It was exciting and energizing.

If you think no one is looking this time of year, think again! The extension of the tax credit has definitely continued to stimulate our local market, and there are plenty of buyers out there!

If you're thinking of listing your home, don't think you need to wait until the grass is green and the flowers are blooming. The listing inventory is getting lower every day, which means less competition. Add to that the fact that interest rates are at historic lows and buyers are chomping at the bit to get those tax credit dollars, and you can't go wrong.

Don't let the train leave without you. NOW is the time to make a move!

_________________________________________________________________

When you work with me...

Visit my website at www.YourNYDreamHome.com to learn more about the services I offer!

Sellers: Find out how much your home is worth by requesting a FREE Home Evaluation!
Buyers: Become a savvy consumer by requesting FREE Home Buying Tips!

Contact:
Kristen Wahl
Realtor Associate
(585) 455-5524
KWahl@RealtyUSA.com

Tips for Saving for a Down Payment for a Home

Kristen Wahl (Kristen Wahl, RealtyUSA) — Thu, 12 Nov 2009 18:53:19 -0600

I wanted to share these fantastic ideas from Charity Shehtanian, a mortgage broker in Livermore, CA. Affording the down payment on a home can be easier than you think!

Via Charity Shehtanian (First Priority Financial):

Many renters may have the income to qualify for the payment on a home, but the tough issue is coming up with the money for the down payment.    And with the $8000 First Time Home Buyer Tax Credit deadline only a few months away, you may be looking for ways to save money faster. Here are a few great suggestion to help you save that down payment faster.

1.   Find out how much you can borrow from your 401K for a home purchase.

2. Ask family members if they can gift you money for a down payment.   While the full lump sum might be difficult for a single family member, maybe several members can spare a couple of hundreds dollars to help out.

3. Ask your employer if they have a program to assist with a down payment on a home.

4. Check your paystub and find out how much you are paying each pay period in Federal and State income taxes.   If you are paying several hundred dollars per pay period in Federal and State income taxes, why not revise your W4 withholdings as on January 1, 2010 and lower those taxes to almost zero.   Take that additional money and save it for your down payment.   Once the money is saved and the home purchased, you can revise your W4 again and start paying Federal and State income taxes again.

I have a client that is short a couple of thousand dollars for his down payment.   This client is paid weekly and is paying over $300 per pay period in Federal and State Taxes.   In less than 2 months, he will have the balance of his down payment saved.

What's the benefit to him? He will be purchasing a home in the best real estate market in years, i.e. for a much lower price. He will have tax deductions for his home interest and property taxes, and he will qualify for the $8000 tax credit.

Livermore Mortgage Broker

Sellers, Be Prepared for These Common Inspection Pitfalls!

Kristen Wahl (Kristen Wahl, RealtyUSA) — Sat, 07 Nov 2009 18:44:21 -0600

When you've been in the real estate business a while, you get used to the issues that come up in home inspections. There are about a handful of problems I've heard mentioned over and over again. I've gotten so that I can predict them before the inspector even opens his or her mouth.

If you're planning to put your home on the market, knowing about common inspection issues can be a huge advantage. If you fix them before listing your home, it makes the home inspection process go more smoothly and lessens the probability that the buyer will get nervous and try to back out. It also sets you apart from other sellers who haven't done their homework and prepared in advance.

Here are six easy-to-fix potential problems:

Lack of GFCI outlets in the kitchen and baths. You know those outlets that have the reset button? Those are GFCIs, or Ground Fault Circuit Interrupters. They're designed to trip if the current flowing through the circuit differs by a small amount from the current that's returning. GFCIs are inexpensive devices that can prevent electrical shock. Inspectors expect to see functioning GFCI outlets in places where there is running water, such as a kitchen, bathroom, or laundry room.

Missing or non-functional gutters and downspouts. Many people see a damp basements and panic, but they can often be fixed with some simple changes. First, make sure your home has gutters that are in good working order and free of debris. Second, make sure the downspouts from those gutters are directed far enough away from your home that the water isn't just flowing right back toward the foundation!

Negative grading. Another simple fix to keep your basement dry is to make sure the soil is graded away from your foundation rather than toward it. It's known as a positive rather than negative grade. If the ground slopes downward toward your house, that's not good; that means water is flowing that way, too. Simply adding more soil so that it slopes upward toward your home will go a long way. Just make sure the soil isn't so high that it's touching the siding.

Touchy-feely shrubs. Don't let your bushes and shrubs sit against your home. They retain water and hold it right against your foundation. Keeping shrubbery at least 18 inches away is best. And anyway, out-of-control bushes just aren't appealing to buyers.

No handrails! This one seems simple, but I see a surprisingly large number of homes that have stairs without handrails, both inside and out. They're often leading to the basement or a deck. Adding them is an easy fix that can save you and your future buyer from liability issues. Safety first!

Bathroom fan that's not vented to the outside. If you have a fan that vents into your attic, all that moisture is building up there with nowhere to go. And, as we know, moisture leads to mold. Some may say this setup is worse than not having a fan at all! Having your fan vented up through the roof can save you from future moisture problems.

Keeping an eye on these simple issues can save you from inspection woes. Obviously, these are just explained in my layman's terms. If you have any questions, always consult a professional!

Now, let's get that home...

_______________________________________________________________________

When you work with me...

Visit my website at www.YourNYDreamHome.com to learn more about the services I offer!

Sellers: Find out how much your home is worth by requesting a FREE Home Evaluation!
Buyers: Become a savvy consumer by requesting FREE Home Buying Tips!

Contact:
Kristen Wahl
Realtor Associate
(585) 455-5524
KWahl@RealtyUSA.com

Silly Saturday: Get Out Your Sunblock!

Kristen Wahl (Kristen Wahl, RealtyUSA) — Sat, 07 Nov 2009 09:46:53 -0600

I know we're expecting warmer weather in the Rochester area this weekend, but is there going to be a supernova I haven't heard about??

Time to get out your SPF 1,000 sunblock!!

Fixing Your Home with... Duct Tape?!

Kristen Wahl (Kristen Wahl, RealtyUSA) — Mon, 02 Nov 2009 19:50:45 -0600

Have you ever seen the Red Green Show? If so, you know that duct tape is a wonderful invention. It has a multitude of uses when it comes to building and handywork.

On the Today Show last week, I even discovered that it's great for creating last-minute Halloween costumes!

Still, I couldn't help but shudder when I saw the latest use of the sticky wonder. This is what I saw in the basement of a home I was showing this evening:

That's right, there was duct tape holding the basement wall together!! There was a crack running across most of the foundation, and this is how the owners had chosen to remedy it.

I know men love duct tape, but... really?!

______________________________________________________________________________________

When you work with me...

Visit my website at www.YourNYDreamHome.com to learn more about the services I offer!

Sellers: Find out how much your home is worth by requesting a FREE Home Evaluation!
Buyers: Become a savvy consumer by requesting FREE Home Buying Tips!

Contact:
Kristen Wahl
Realtor Associate
(585) 455-5524
KWahl@RealtyUSA.com

Happy Halloween!!

Kristen Wahl (Kristen Wahl, RealtyUSA) — Sat, 31 Oct 2009 11:16:32 -0500

Fall Foliage in Upstate New York... Spectacular!

Kristen Wahl (Kristen Wahl, RealtyUSA) — Sat, 31 Oct 2009 11:02:09 -0500

Autumn is one of the most lovely times of the year in Upstate New York. The temperatures are mild, and the foliage is spectacular!

Last weekend, my mother and I took a drive through Wayne County and snapped some photos of the gorgeous colors. Most of the bright orange Sugar Maples were past peak, but the yellow and reds were fantastic. We drove from my parents' house in Macedon to Newark and back. Most of these photos were taken in the Palmyra Cemetery, which just happened to have some of the most amazing colors.

Here's a slideshow of some of my favorite photos:

Since we're talking about Fall, I also wanted to remind everyone that tomorrow is November 1st, which means it's time to "Fall Back"! Don't forget to TURN YOUR CLOCKS BACK AN HOUR TONIGHT!

Enjoy Autumn in the Greater Rochester area!!

When you work with me...

Visit my website at www.YourNYDreamHome.com to learn more about the services I offer!

Sellers: Find out how much your home is worth by requesting a FREE Home Evaluation!
Buyers: Become a savvy consumer by requesting FREE Home Buying Tips!

Contact:
Kristen Wahl
Realtor Associate
(585) 455-5524
KWahl@RealtyUSA.com

Being the Real Estate Expert... It Still Matters!!

Kristen Wahl (Kristen Wahl, RealtyUSA) — Fri, 30 Oct 2009 14:03:55 -0500

I consider myself a life-longer learner. I love taking classes at my local real estate association, and I'm even a member of the Professional Development Committee. I subscribe to a variety of online publications and read them each and every day. I've always believed it's tremendously important to be on top of what's going on with the real estate market, both in the Rochester area and nationally.

The other day, I was reminded just how important it is to be up on the latest real estate news. I was in the bank doing one of my favorite things, cashing a commission check. The teller was a woman I went to high school with, and we were chatting about life and how business was going. You know, the usual. Then, she said, "I heard the first-time buyer tax credit was extended."

My response was an excited but clueless, "It was??" She responded that she had just seen it on the t.v. screen at the back of the bank.

It turns out she wasn't 100% correct. The extension of the tax credit was passed by the Senate, but still needs to be approved by the House of Representatives and receive President Obama's signature.

Still, the fact that she knew more about it than I did at that point was a reminder of just how connected the typical layperson is these days. Between the internet and stations like CNN and MSNBC, they know information about the real estate market almost immediately, often before we agents do! That's the reason it's so important for all of us to stay at the top of our games.

When pondering the changes in society, it's easy to think, "If they're so connected, what do our clients need us for?" As agents, we've built our reputations on being the experts, the ones to go to for advice on the market. Will today's information age cause us to become obsolete??

Absolutely not. As you may have noticed in the example above, even though my friend knew about the tax credit, the information she had received from the t.v. wasn't clear to her. Later, on Facebook, I clarified the issue by sharing an article and a quick synopsis of where things stand.

People around the nation may have access to 24 hour information about the real estate market, but they also have lives and jobs that don't revolve around real estate. It's easy for them to become overwhelmed and confused by the sheer amount of real estate data available to them. That's why it's our job to keep track of what's really going on in our local markets. There's almost too much information out there, and our clients need us to make sense of it all for them.

Let them know...

Which articles they read are most up-to-date
How much of the news they hear relates to your local market
What statistics show about the trends in your area

There's still a plethora of knowledge we can share with our clients and friends. We are trained, knowledgeable professionals. We can still be their real estate experts.

When you work with me...

Visit my website at www.YourNYDreamHome.com to learn more about the services I offer!

Sellers: Find out how much your home is worth by requesting a FREE Home Evaluation!
Buyers: Become a savvy consumer by requesting FREE Home Buying Tips!

Contact:
Kristen Wahl
Realtor Associate
(585) 455-5524
KWahl@RealtyUSA.com

The Wisdom of Will Smith.... If This Doesn't Inspire You, Nothing Will!!

Kristen Wahl (Kristen Wahl, RealtyUSA) — Wed, 28 Oct 2009 14:25:54 -0500

This past Monday and Tuesday, RealtyUSA held its annual "Rusa Rally", two days packed full of learning, networking, and fun.

We had two national speakers, Steve Harney and Jonathan Nicholas. Steve spoke about the realities of today's market and how to communicate them to our clients. Jonathan spoke about Social Networking, something we as members of Active Rain are already actively embracing! Both speakers had great insight and were highly worthwhile. I'll share the highlights in a future post.

First, though, I have to share a video that inspired me more than anything else I experienced at the Rally. Our president, Merle Whitehead, played it at the beginning of Monday's presentation, and it blew me away.

The video is a compilation of interviews done by Will Smith that highlight his beliefs about life, work, dreams, and much more. I always liked Will's movies, but had no clue he had such amazing insight and work ethic.

Take a look. I promise you'll be moved and inspired!

When you work with me...

Visit my website at www.YourNYDreamHome.com to learn more about the services I offer!

Sellers: Find out how much your home is worth by requesting a FREE Home Evaluation!
Buyers: Become a savvy consumer by requesting FREE Home Buying Tips!

Contact:
Kristen Wahl
Realtor Associate
(585) 455-5524
KWahl@RealtyUSA.com

How is the Rochester Real Estate Market Doing? Let's Take a Look!

Kristen Wahl (Kristen Wahl, RealtyUSA) — Fri, 23 Oct 2009 10:06:14 -0500

If you watch the national news, you're probably bombarded with information about the real estate market. One anchor says the market is still lagging, while another says we're on the rebound. One says the tax credit has been a huge success, while another says it's just a drain on our national resources. Who do you believe??

Personally, I don't put much stock in the national headlines. If you remember one thing after reading this blog entry, remember this: real estate is local! The market in Rochester is different from the markets in Syracuse and Buffalo, and it's certainlydifferent from the market in San Francisco or Miami! The national news people may talk about how the market is doing in "the Northeast", but do they honestly expect us to think that Rochester is experiencing the same trends as Boston, where homes are at least 3 times as expensive and the cost of living is massively higher?

Here in Rochester, we have a lot going for us. Our homes are incredibly affordable. We didn't experience the huge dip in home values that affected much of the nation over the past few years. We still have a strong economic base supported by companies such as Xerox, Paetec, and Paychex. Sure, there will always be people who are concerned about our high New York State taxes, but overall the Greater Rochester area is faring better than most of the nation. We are a region that knows how to hold our own.

I want to share two positive articles about the local real estate market that were published in the Democrat and Chronicle over the past couple of days.

The first, published yesterday, is entitled "Real estate sales up for the quarter." The statistics that stuck out in my mind are that our sales in the Rochester area are up 2.9% from this time last year, and an amazing 48.1% since the last quarter. The article states that this is most likely due to the first-time home buyer tax credit, and I agree. It has brought a ton of buyers into our local market.

The second article was published today and is about the tax credit specifically. It's entitled "First-time buyers drive home sales." This lengthier article quoted the CEO of the Greater Rochester Association of Realtors, several local agents, and some first-time buyers themselves, all of whom agreed that the tax credit has had a positive impact on the local market. The most notable statistic in the article is that the number of accepted purchase offers rose 7% recently. Pending homes are an important factor to consider, since they are an indicator of future sales.

Because of our affordable home prices, tons of first-time buyers were able to use the tax credit to achieve their dreams of home ownership. Now, with the tax credit coming to an end on November 30th, the time for them to purchase has all but run out. Already our pending home sales are starting to flat-line.

Personally, I hope the legislation to extend and possibly expand the tax credit passes. Sure, there has been some fraud, but that happens with every government program. Sadly, there are people out there who will try to use anything for personal gain. Still, I think the positives far outweigh the negatives in this situation. Let's keep the market strong!!

When you work with me...

Visit my website at www.YourNYDreamHome.com to learn more about the services I offer!

Sellers: Find out how much your home is worth by requesting a FREE Home Evaluation!
Buyers: Become a savvy consumer by requesting FREE Home Buying Tips!

Contact:
Kristen Wahl
Realtor Associate
(585) 455-5524
KWahl@RealtyUSA.com

New RELO Website Gets a Thumbs Up!!

Kristen Wahl (Kristen Wahl, RealtyUSA) — Wed, 21 Oct 2009 19:03:33 -0500

I love when tons of great information is right at my fingertips. Don't we all?

RealtyUSA is one of only a few companies in the Rochester area that is a member of Leading Real Estate Companies of the World, the world's largest network of independent real estate companies. That gives our Relocation Department the ability to assist our clients who are moving to or from anywhere in the country.

Now, Leading Real Estate Companies of the World has launched a great new website, www.ReloHomeSearch.com. It has to be one of the most user friendly sites I've visited in a long time.

From the home page, you're able to click on an interactive map to choose a location... anywhere in the world!Once you narrow it down to your desired area, you're presented with a useful array of information and statistics about your chosen community. The statistics pages have great information, and the area guides are very well-written.

To the left, you'll see a search box. As you narrow down your criteria, it will whittle down the number of homes you see in the listings box at the top. Once you figure out what you want, you can scroll through the listings using the left and right arrows. Just click on a photo to see a short summary and a link to the company's website for more information. Simple, but very effective!

Will this site be the best for everyone? No, it does have a more limited selection than our local Multiple Listing Service. However, the local information is top notch.

I think this is a great new tool for people looking to relocate through the United States and beyond. Take a look and let me know what you think!

When you work with me...

Visit my website at www.YourNYDreamHome.com to learn more about the services I offer!

Sellers: Find out how much your home is worth by requesting a FREE Home Evaluation!
Buyers: Become a savvy consumer by requesting FREE Home Buying Tips!

Contact:
Kristen Wahl
Realtor Associate
(585) 455-5524
KWahl@RealtyUSA.com

New York State is Bringing in the Experts!

Kristen Wahl (Kristen Wahl, RealtyUSA) — Mon, 28 Sep 2009 14:01:44 -0500

The New York State Consumer Protection Board will conduct a free public "ask the expert" calling day on September 30 to answer state residents' questions about home improvement projects.

Professionals specializing in kitchen and bath remodeling, plumbing, heating, air conditioning, sheet metal installation and servicing, construction management, site development, window and door installation, home building, energy efficiency, availability of funding for low-income consumers, and renovation of historical buildings will be available to answer questions.

All you need to do is call (888) 351-4648 on September 30th, 2009 between the hours of 9 AM-2 PM, and someone will be there to share some expertise.

If you have questions about home improvements, you can always contact me, too! I'd be happy to share information about trustworthy contractors, improvements that add value, or anything else I can help with!

When you work with me...

Visit my website at www.YourNYDreamHome.com to learn more about the services I offer!

Sellers: Find out how much your home is worth by requesting a FREE Home Evaluation!
Buyers: Become a savvy consumer by requesting FREE Home Buying Tips!

Contact:
Kristen Wahl
Realtor Associate
(585) 455-5524
KWahl@RealtyUSA.com

What's in a Name??

Kristen Wahl (Kristen Wahl, RealtyUSA) — Thu, 24 Sep 2009 11:15:27 -0500

I made a big decision yesterday. I'm going to team up with another agent from my office, Karen Moore. We decided that, as partners, we can work together to grow both our businesses.

I'm excited. It will be great to have someone else to compliment my style. I'm good with computers and Karen has been in sales for many years. We're both passionate about real estate and want to become as successful as we can be. I think we'll be a good team.

My one quandary is... what do I call her? When we're knocking on the door of a For Sale by Owner, how do I introduce her?

I could say, "This is my partner, Karen." But let's face it... that has multiple meanings in today's society. No need to be so ambiguous.

I could introduce her as my teammate, but that sounds too much like we're playing baseball!

I could call her my colleague, but that brings to mind images of professors sitting around in their college jackets smoking pipes. Too stodgy.

So what's left?? I guess maybe business partner is a good alternative.

Do you work with another agent? What do you say??

Charming New Listing in North Winton Village!

Kristen Wahl (Kristen Wahl, RealtyUSA) — Tue, 15 Sep 2009 19:31:49 -0500

Kristen Wahl | RealtyUSA | kwahl@realtyusa.com | (585) 455-5524

67 Thurlow Avenue, East Irondequoit, NY

Charming Colonial in North Winton Village!

3BR/1.5BA Single Family House

offered at $139,900

Year Built	1956
Sq Footage	1,791
Bedrooms	3
Bathrooms	1 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	0.3 acres
HOA/Maint	$0 per month

DESCRIPTION

This charming home is nestled on a tree-lined street in the desirable North Winton Village area! Highlights include a spacious family room with cathedral ceilings and skylights, lovely hardwood floors throughout, a wood burning fireplace, a large 2 car garage, and a well-landscaped yard with a covered deck and patio. Recent updates include roof, electric, furnace, hot water heater, and blacktop driveway. The kitchen and bathrooms could use some minor updating, but overall this is an adorable house in a fantastic neighborhood! Come see for yourself!

see additional photos below

PROPERTY FEATURES

- Central heat	- Fireplace	- High/Vaulted ceiling
- Hardwood floor	- Family room	- Living room
- Dining room	- Breakfast nook	- Dishwasher
- Stove/Oven	- Basement	- Laundry area - inside
- Balcony, Deck, or Patio	- Yard

ADDITIONAL PHOTOS

Front View	Living Room
Kitchen	Dining Room
Family Room	Master Bedroom

Contact info:

Kristen Wahl

RealtyUSA

kwahl@realtyusa.com

(585) 455-5524

For sale by agent/broker

Equal Opportunity Housing

Posted: Sep 10, 2009, 7:28am PDT

Would Congress Please Extend the First Time Home Buyer $8,000 Tax Credit?

Kristen Wahl (Kristen Wahl, RealtyUSA) — Tue, 15 Sep 2009 19:30:25 -0500

I agree with Loreena's post completely. The tax credit has done an amazing job stimulating the market in the Rochester area, too. I've seen more multiple offers on properties under $150,000 than I've seen in years! I've already sent off a plea to our local legislators to extend the tax credit. Let's hope they do, but in the meantime, the clock is ticking!

Via Loreena Yeo - Broker|Realtor(R) of www.Frisco-TX-Homes.com (214) 783-2210 (3:16 team REALTY):

There have been talks about the possibility of asking Congress to extend the First Time Home Buyer $8,000 Tax Credit. I, for one would love to see this pass.

The lower priced range homes in my service areas (greater Frisco TX) less than $300K have been selling as hot cakes. The Sellers are finally pricing their homes correctly. The interest rates have been historically low. This is a perfect heaven for home buying in the greater Frisco TX area. This is definitely helping the housing market like it was intended.

In addition to extending the First Time Home Buyer $8,000 Tax Credit, Congress, please expand the tax credit to include ALL home buyers - not just first time home buyers. This will definitely spur our local economy, and all the related businesses thereof.

Expansion to this tax credit to include:

$15,000 tax credit, not just $8,000

For ALL home buyers, not just first-time

Extension for 1 more year - into December 2010.

There are good deals to be bought here in greater Frisco TX areas. However, with the timing to coincide the current tax credit, buyers are no longer looking at short sales and foreclosure properties for fear that the dateline is not met.

If you are a first time home buyer looking to purchase, you should get in position on a contract by early October unless Congress extends the First TIme Home Buyer $8,000 Tax Credit.

We need as many people as we possible can to take action to ask Congress to extend and expand this First Time Home Buyer $8000 Tax Credit.

Please click here to submit your request for Plea here.

*********************************************************************************************

All contents are original. Consider subscribing to my blog for more real estate commentaries.

Subscribe via Email if you are not an Active Rain member here.

Contact:

Loreena Yeo
Realtor®/ Broker of 3:16 team REALTY
(214) 783-2210
loreena@loreenayeo.com

Super-serving Frisco, Plano, Dallas, McKinney, Allen, Little Elm, Prosper, Celina, Richardson, Dallas M-Streets, Dallas White Rock Lake area communities and other surrounding areas.

Copyright © 2009 by Loreena Yeo (3:16 team REALTY).
Would Congress Please Extend the First Time Home Buyer $8,000 Tax Credit?

Governor Paterson Signs Enhanced Historic Preservation Tax Credit Legislation

Kristen Wahl (Kristen Wahl, RealtyUSA) — Mon, 10 Aug 2009 19:50:46 -0500

Governor David Paterson signed into law legislation to strengthen the New York State Historic Preservation Tax Credit. The program will create jobs, draw investments to main streets, and preserve historic structures.

New York's preservation tax credit was adopted in 2006, but the program failed to provide adequate incentives to attract investment to struggling municipalities, particularly those upstate. The newly enhanced program will apply to taxable years beginning January 1, 2010 and will sunset on December 31, 2014. The enhancements signed into law by Paterson will:

Increase the tax cap credit on both commercial and residential rehabilitation.
Target the credit to distressed areas.
Boost the share of rehab costs that commercial property owners can claim.
Offer the tax credit as a rebate for lower income homeowners.

According to Governor Pateron, "New York has a wealth of historic properties, particularly in our small cities, that are falling into disrepair or are underutilized. The enhanced Historic Rehabilitation Tax Credit will breathe new life into the State's historic downtown areas while creating jobs and revitalizing the economy."

Members of the senate and assembly across the state applauded Governor Paterson's decision to sign the bill, saying it will be beneficial to Upstate New York communities.

As for Rochester, our local leaders have been working for some time to bring new life to the downtown area. Let's hope this bill creates additional funding opportunities for our city!

Click here for more information on the bill.

When you work with me...

Visit my website at www.YourNYDreamHome.com to learn more about the services I offer!

Sellers: Find out how much your home is worth by requesting a FREE Home Evaluation!
Buyers: Become a savvy consumer by requesting FREE Home Buying Tips!

Contact:
Kristen Wahl
Realtor Associate
(585) 455-5524
KWahl@RealtyUSA.com

New Listing in Brighton Schools!

Kristen Wahl (Kristen Wahl, RealtyUSA) — Thu, 30 Jul 2009 11:31:28 -0500

Kristen Wahl | RealtyUSA | (585) 455-5524

210 Maywood Drive, Brighton, NY

Brighton Colonial with Stunning 2nd Story Addition!

4BR/3.5BA Single Family House

offered at $229,900

Year Built	1955
Sq Footage	2,288
Bedrooms	4
Bathrooms	3 full, 1 partial
Floors	2
Parking	2 Car garage
Lot Size	0.4 acres
HOA/Maint	$0 per month

DESCRIPTION

Large lot in Brighton Schools! The 2nd story of this stunning Colonial was added in 2008 and features gorgeous hardwoods, a bonus room, & a spacious master suite. Seller removed walls on 1st floor to open up floor plan & added new roof, C/A, vinyl siding, deck, insulation, & garage door. Finished basementt not included in square footage.

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Fireplace
- Walk-in closet	- Hardwood floor	- Tile floor
- Living room	- Bonus/Rec room	- Dining room
- Dishwasher	- Refrigerator	- Stove/Oven
- Stainless steel appliances	- Basement	- Laundry area - inside
- Balcony, Deck, or Patio	- Yard

ADDITIONAL PHOTOS

Front View	Bonus Room into Master BR
Bonus Room into 2nd Bath	New Stairs to 2nd Story
Kitchen	Addition in Progress!

Contact info:

Kristen Wahl

RealtyUSA

(585) 455-5524

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 30, 2009, 8:16am PDT