Lakefront Living

Why Use an Agent to Buy a FSBO?

Stan Olevnik (Nothnagle Realtors) — Wed, 08 Jun 2011 08:25:46 -0700

We've all seen it. You're working with an agent you have come to know and trust and you find a property that is a FSBO (pronounced Fizz-Bo), a For Sale By Owner property. Your agent has done a great job of understanding your needs, narrowing your search, showing you homes, and ultimately getting you to the point of being ready to make an offer on your next new home purchase. THEN IT HAPPENS! You find the perfect home, but it's not in the MLS. It has a big sign out front that says "For Sale By Owner". Oh, No! It is certainly your dream home, but what about your agent? He's been so attentive and put up with your almost constant changes to the search parameters. He's shown you so many places and helped you narrow the search. He's now a friend! You don't want to cut them out of the process, but you want to see the inside of this dream home! THERE'S GREAT NEWS! You don't have to sacrifice the comfort you have in your real estate agent. A savvy agent will not hesitate to contact the seller and negotiate an arrangement for you to see the home. Usually the seller will agree to a commission structure if an agent can bring a qualified buyer. If not, you've still got options. 1). Walk away. You wouldn't go to court without your attorney, or to a tax audit without your accountant. Should you look at real estate without your trusted professional? 2). Discuss a compensation package with your agent and sign an agreement to use him as a buyer's agent. Your costs can then be factored into the offer you make if you choose to move forward. 3). Dump your trusted agent. (But not before you review number 1 again). The point is, a For Sale By Owner doesn't have to put you at a disadvantage. Let your agent help.

Will a 2% tax cap work?

Stan Olevnik (Nothnagle Realtors) — Fri, 20 May 2011 08:24:34 -0700

I had a terrific conversation today with a gentleman who was all bent out of shape about our Governor's proposed property tax cap. He was reluctant to tell me which side of the aisle his representation leaned, but he was intent on convincing me the cap should not be implemented. While I'm not sure where he stood, I can tell you where I stand! I agree wholeheartedly that a property tax cap without corresponding reductions in mandates will present some tremendous challenges for state, county, and local governments. I don't for a second believe we shouldn't proceed with the cap. Let's face it, SOMETHING must be done! Today no one is dealing with the problem of runaway costs and New York, based upon whatever report you look at, ranks right at the top in property tax rates and the amount of increase over the last several years. Implementing the cap will force us to revisit the programs and the waste these taxes are funding. If our local governments cannot cover the unfunded mandates without raising taxes, better, and hopefully clearer decisions will be required. In the end, our representatives no longer can simply dump costs on the homeowner...and that is a good end!

Why Market Your Home Like Used Car?

Stan Olevnik (Nothnagle Realtors) — Tue, 03 May 2011 11:25:46 -0700

I really do applaud the homeowners that roll up their sleeves and try the For Sale By Owner route. There's something uniquely American about taking care of yourself and your family, and controlling your destiny. Sometimes though, it's really not a case of whether you can complete all the paperwork, negotiate the deal, or even motivate the buyer. Homes sell every day across this country, and some are FSBOs. In this market environment, the vast majority, however, need MARKETING. They need GUIDANCE. They need SUPPORT! Few of my listings sell based upon the signs. It helps, but it's the marketing that brings in the buyers. Read the following and let me know what you think! I'll be glad to help you market that property.

So You Want a Home in the Finger Lakes???

Stan Olevnik (Nothnagle Realtors) — Sat, 23 Apr 2011 01:36:14 -0700

Buying property in the Finger Lakes is like buying a ticket to a sporting event. It all depends upon the experience you want! Lakefront property is like the courtside seats at your favorite game! You'll pay extra for these seats, but you're right in all the action. Move across the road, where you still have access to the lake compares to the first few rows of box seats! The game's still great from there, and you didn't pay for courtside! Lakeview property with access to the local wineries still offers a tremendous view of the game. Just like the arena's mezzanine, you made it to the game, ordered some food and drink, and had a great time! A home in the countryside reminds me of the bleacher seats. You sit there because you love the game. You relax in the sun, while you're close enough to enjoy all the advantages of the ballpark! Call me and let's order your seats today! Stan

Now! Is the time to buy a Lakefront Property!

Stan Olevnik (Nothnagle Realtors) — Thu, 14 Apr 2011 04:29:46 -0700

Sure, everyone will tell you it's a great time to buy, but when you're talking lakefront property there's an entirely different reason. Is it interest rates? Well, yeah. Those are still pretty darn good right now. Is it the buyer's market? There are a lot of properties out there to look at and choose from. Is it the economy? We've seen some slight improvement, but I wouldn't hinge my decision on this one! Is it the tax return you have coming back for a down payment? Tax return? Really? Well Stan, what is it you say? It's timing. It's a close look at the calendar. Each year, the summer brings tourists to the beautiful, Finger Lakes area of Upstate, New York. And each year, those visitors fall in love with the wineries, the views of the rolling hillside, the crystal clear lakes, and the thought of returning even more often to their own little paradise on the lake. What they don't do each year is plan! They don't plan for the time it takes to find and purchase a lakefront property! They don't take into account the steps that a local real agent will help you work through seamlessly. Each of these take time and many a new property owner figures this out as they sit at the closing table, buying a property just in time to close it up for the winter! Some of the steps include: Evaluating your options and finding that "just right" home or cottage. Offering, Counter offering, and securing an agreement. Attorney steps to secure a clean title and abstract. Bank financing, appraisals, and qualifications. Fundamental steps like surveys, well & septic inspections, easement acknowledgements, etc. If you have an interest in having a home or cottage in the Finger Lakes, ask your agent to start the search soon! Don't wait for the summer to be in full swing. NOW is the time to look for your dream home. Give me a call to start that search today!

Should I get pre-qualified before I find something I like?

Stan Olevnik (Nothnagle Realtors) — Sun, 03 Apr 2011 08:29:10 -0700

Sure! We agents like to see you walk in the door prequalified...but not for the reasons you think. The buying process can be fun, exciting, filled with hope, and also FRUSTRATING! One of my primary jobs is to help manage that process and level out the highs and lows for you. Prequalifying doesn't mean the bank will DEFINITELY provide the money, but it does create a starting point. Right now, it's a buyer's market. That means there are more houses to choose from than buyers to take them. You can spend a whole lot of time looking at homes, if you don't prequalify and narrow the field. There's nothing worse than seeing a young couple get all excited about their dream home and begin the buying process only to find out they don't qualify. Maybe they don't make enough money for the home they want, maybe they don't have quite enough down payment money, or maybe there's an old bill hiding out there that everyone forgot about until the credit search. Keep these points in mind, make a quick trip to the bank, and give your agent a call. Prequalifying: - Reserves the available money in many loan products for you! - Saves the emotional turmoil of the inevitable roller coaster ride! - Often gives you a stronger bargaining position with the seller! - Identifies price ranges to improve your home search. - Gives you the advantage of moving quickly if someone else wants your dream home!

Buyers search for free!

Stan Olevnik (Nothnagle Realtors) — Fri, 01 Apr 2011 10:02:56 -0700

Real Estate has been bought and sold here since when? 1492? And that's not even giving credit to everyone who made an exchange long before Columbus even thought of making his way across the Atlantic. Still, with all that time passing, I have to take a step back when I have a buyer looking at lakefront property and they ask, "So how do we pay you?". I guess it's really easy to assume everyone understands that the most common process is for the deal to be structured and paid by the seller. Sure, having a paid buyer's agent and a documented agreement for compensation is an option, but certainly not the rule in this area. If you are looking to buy a piece of lakefront property and you havn't made the move because of a fear of potential fees...call a licensed agent! Our role is to help you through the entire process, not just the closing! ~Stan

Put a nice skirt on the old girl!

Stan Olevnik (Nothnagle Realtors) — Fri, 11 Mar 2011 07:02:30 -0800

That was a phrase my grandfather used years ago. It stuck with me and means so much to me in real estate today! Some days I am amazed by clients asking me to sell their home and bring them top dollar, but they won't lift a finger to make sure their asset looks it's best. The days of people looking past the mess, the bad trim, and the repairs is long gone. There are plenty of fine homes available on the market with owners that are taking every step they can to make their's look best! Even if you live in an older home, you have to "put a nice skirt on the old girl" and make the best impression you can. A nicely kept, clean, older home still has a huge following out there...just dress her up!