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Real Estate Guide February 23, 2013
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RREE AA LL EESS TTAATT EE GGUU II DD EESupplement to the Original Valley Pennysaver, the Family Pennysaver and the DollarSaver
Produced by Lee Publications • 6113 St. Hwy. 5 • Palatine Bridge, NY 13428 • 518-673-3237 • 800-218-5586 • www.leepub.com
Kinship Properties Inc.
Debbie Sicilia - Salesperson518-495-5770
Bob Snell - Salesperson518-321-9897
Sam Licari -Broker518-568-2776
Heidi Mouyos - Salesperson315-717-7269
VISIT OUR WEBSITE AT www.kinshipproperties.com
Dolgeville Branch10 E. State St., Dolgeville NY 13329 • (315) 429-9750
St. Johnsville Branch54 East Main Street, St. Johnsville NY 13452 • (518) 568-2776
2 Locations To Serve You
John Case - Salesperson518-281-8008
GLOVERSVILLEWalnut Street
Priced to Sell At $101,500Cathedral Ceiling & spacious living
room/kitchen. Standard story, 2 bedroom,new construction, heavily insulated,double glass windows, 95% efficient
furnace, full basement, large lot on a deadend street. Near Nathan Littauer Hospital.
Quiet neighborhood. Large closets, washer/dryer hook up in the bathroom.
Call Debbie 518-495-5770 or Jim Van Duesen 518-332-6769
EPHRATAH Cty. Rte. 119$249,000
Outstanding Chaletthree story home. 125 acres with 2
garages. Double field-stone fireplace, securitysystem / total privacy.
Good hunting.Call Debbie at 518-495-5770
PALATINE BRIDGE127 Failing Hill Rd.
$279,0004 Family exceptional property,
4 living units, perfectly maintained.Present operating income very good.Owner financing available for quali-
fied buyer. Only 5 minutes fromCanajoharie exit of the thruway.Call John Case 518-281-8008
SALISBURY2114
State Rt. 29$445,000The Country Store
& Apartment.This gas station, convenience store, gift shop, ice cream parlor, restaurant and bar is a well-established neighborhood store with an active walk-in business, as well as a steady clientele.Only provider in area with non-ethanol gas and total fuel sales that vary from 16,000-20,000gallons per month. Newly built successful restaurant and bar. Property has a beautiful 2 bed-
room apartment for the prospective buyer to live on premises or have as an additional income.Great opportunity for a turn key investment. Price includes real estate and all fixtures.
SELLER FINANCING TO QUALIFIED BUYER. Call Heidi Mouyos 315-717-7269
GLOVERSVILLE482 West Fulton St. Ext.
$159,000Well-kept split-level home. Has apartmentupstairs for additional income if desired.Could be opened up for more bedroomspace. 12x12 shed, with above-ground
pool, great tree fort playground, & lots ofroom with fenced-in backyard. Good quiet
neighborhood, but yet minutes from city forstores, doctors & in small Hamlet of Meco.
FORT PLAIN68 Hancock St
$120,000An excellent investment property!This property is currently leased
to an Auto Parts Dealer and areligious organization, with a posi-tive cash flow. Excellent location,plenty of vehicle traffic, plenty of
parking and good tenants.Call Bob Snell for your
appointment @ 518-321-9897
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Many questions arise during the home-buying process. Buyerslooking at homes that require a good deal of TLC may wonder whois responsible for the home's repairs, particularly if such repairs areneeded to secure a certificate of occupancy. Depending on thesituation, there is no clear-cut answer.
There is no perfect home, and things that are acceptable to thecurrent owner may not be acceptable to the buyer who is looking tobecome the next owner. The home-buying process is typically acareful cooperation between buyer and seller to find a middleground. The buyer may have to make some concessions, as will theseller. Ultimately, it is this cooperation that often determines if thesale goes through or is terminated.
Before any negotiations can begin regarding repairs, it is adviseablefor a buyer to have an independent inspector come out and lookover the home and property. Most real estate agents will suggestthis be done as a first priority -- even before a contract is enteredon the home. An inspection will unveil any potential problems in ahome and indicate things that the buyer may not be aware of,including items that do not meet with code or could be unsafe. Aninspector also may point out problems that could cause a mortgagelender to give pause. This may mean the lender will deem problemsunsafe and refuse to fund the mortgage until repairs are made.
A copy of this inspection report should be sent to the home seller toreview with his or her attorney and real estate agent. The buyerworking with his own real estate attorney and agent can petition forcertain repairs to be made. Many sellers will make such repairs toensure the purchase goes through, or they will accept a lowerpurchase price to compensate for the needed repairs, which thebuyer will then make. Buyers might want to hire a good real estate
attorney to write clauses into the contract to protect their interests.This allows the buyer to forfeit the sale and walk away from thecontract should an issue arise.
The rules often change when buying a home that is a short sale or
in foreclosure. A home that is in distress is typically in this situationbecause the current owners cannot afford to pay their mortgage,and thusly, are not able to afford repairs. According to Think Glink, amoney-management Web site, buyers may try to negotiate repairswith the seller, but they shouldn't assume that sellers (or lenders inthe event of a bank-owned home) are responsible for the repairs.Generally speaking, most short sales and foreclosures are sold "asis" and may even specify that repairs and requirements for thecertificate of occupancy are the buyer's responsibility. A buyer alsocan ask to have the home price reduced to cover the repairs. Butforeclosures are often already deeply discounted.
Buyers should know that, for a home that is not in foreclosure,there are some repairs that should ultimately be the responsibilityof the seller. If these repairs are not made, a buyer should thinkstrongly about walking away from the deal, according toWhy6Percent.com, a real estate marketing site. Such repairsinclude:
• lender-required repairs that could impact home safety• leaky pipes• water penetration issues, including a bad roof• unsafe decking or handrails• wet basements or crawl spaces• insecure foundations or obvious structural damage• poorly functioning sewer lines or septic system
It is always adviseable for buyers to speak with a reliable realestate attorney and a trusted real estate agent to guide themthrough the process of buying a home. These people can helpbuyers navigate the important decisions that can affect the homethey'll be living in for the next several years.
Adirondack cozinessin the heart of the city!Spacious 2 bedroomand private yard.Brand new siding,windows and roof.Knotty pine interiorwith efficient pellet stove.$49,900
“...for the personal attention you deserve!”LANA RUGGIERO, GRI, ASP
11 Forest St., Gloversville (518) 470-4738www.ruggierorealtyllc.com • [email protected]
9 Beech St., Gloversville Modern raised ranchin perfect conditionfor the buyer whowants to just move in!3 bedrooms, 2 baths,large family room, eatin kitchen, attachedgarage. Seller will payfirst year taxes!$139,900
237 S. Kingsboro Ave., Gloversville
Great location,3 bedroom / 2 bathranch on 1.5 acres.Very spacious eat inkitchen with bar,large living room withnew pellet stove.$139,900
273 Smith Rd., Broadalbin A one of a kind, exceptionally well maintained home withGEO Thermal heating &cooling system. Gorgeousnew master suiteincludes tiled spa-likebath with heated floors,California closet.Immaculate 4 car garage.$275,000
505 State Hwy 29A, Mayfield
Who is responsible for repairs during a home sale?
Home buyers may be able to negotiate thatsellers repair major structural issues,such as a leaky roof. If not,negotiate a lower sale price.
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Mohawk Valley Real Estate LLC4720 State Hwy. 30, Amsterdam, NY 12010
518-843-434329 Church St., Canajoharie, NY 13317
518-673-2066
United Country HBE Group, Inc.
Specializing in Country Homes, Land and Recreational Propertywww.unitedcountry.com
6 Slawson St., Dolgeville, NY 13329
Ph: 315-429-9754 • Fax: 315-429-9363
[email protected] • www.dolgeville-ny-real-estate.com
#3140 - Buy a Job! - Auto Repair & Sales -Equipped shop in Dolgeville on Busy Street.Owner retiring, and most of the equipmentstays. Space for 6+ cars, lift, waste oil furnace,nice office . . . . . . . . . . . . . . . . . . . .$145,000
#3139 - Dolgeville - Renovated Village Home
- 3 bedroom, 1.5 baths, Interior has beenredone, windows, carpets, furnace, kitchen,bathrooms, bargain price . . . . . . . . . .$32,000
#3130 - Linter Road, St. Johnsville - Cozy 2bedroom cottage on 1/2 acre near BeardsleeLake. Needs some finishing work, lots ofpotential, has new bath, updated roof, drilledwell, walk to lake, right on snowmobile trails. . . . . . . . . . . . . . . . . . . . . . . . .Asking $42,500
#3077 - Castle Road, Town of Fairfield - 7.7Acres with 15 year old 1.5 story home, 3+bedrooms, 2 baths, family room, large polebarn, garage, nice views, very private location . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$123,000
#2093 - Petrie Street, Little Falls - Large 2family home on 40’x120’ lot, good location, allseparate utilities, 3 bedrooms up and 2 down,detached 2 stall garage and fenced yard. Verynice for owner occupant . . . . . . . . . . .$61,000
Men and women who have triedto sell a home are likely familiarwith the phrase "curb appeal."Curb appeal is similar to gettingready for a big date, only you'renot dressing yourself up tomake a strong first impression.Instead, improving curb appealinvolves dressing your home upin the hopes it makes a strongfirst impression on prospectivebuyers, many of whom willhave a strong opinion about theproperty before they even getout of their cars to have a lookaround.A home with strong curb appealcan entice buyers who are likelyto believe that a home with awell-maintained exterior islikely to have an equallyimpressive interior.Homeowners who want theprocess of selling their home togo smoothly can improve theproperty's curb appeal in anumber of ways, many of whichdon't necessitate a substantialhome improvement budget.• Clean up. The most effectiveway to improve curb appeal isto clean up the property. Many
homeowners are savvy enoughto remove toys and other itemsfrom the yard before showing ahome, but cleaning up goesbeyond removing clutter fromthe property. Make sure allhedges are trimmed andremove weeds, sticks and otherdebris from any flower beds.Lay mulch in the flower bedsand garden, as mulch preventsweed growth while helping thesoil retain moisture, resulting inmore attractive gardens tocatch a buyer's eye.• Get an "edge" on othersellers. Edging is another easyand effective way to improvecurb appeal. Edge driveways,sidewalks and other walkwaysaround the property, removingor trimming anything that ishanging over the driveway orwalkways. If the boundarybetween your driveway andlawn is not distinct, considerinstalling edging materials suchas stone or bricks. The edgingcan be level with the drivewayor elevated, but keep in mindthat elevated driveway edgingcan protect the lawn,
preventing kids from riding theirbicycles onto the lawn or carsfrom driving onto it. Addingedging is not a very difficult do-it-yourself project.
• Take to the trees. Manyhomeowners grow accustomedto overgrown trees around theirproperty and may not noticethat low-hanging, unsightly
branches are hiding the homefrom view. Buyers want to seethe house, so take to the treesand trim any branches thathang too low or obscure yourhome.• Clean the gutters. Leaves andsticks hanging from the guttersare a red flag to buyers, whotend to associate cloggedgutters with roof damage. Cleanthe gutters thoroughly beforeputting your home up for saleand keep them cleanthroughout the selling process.If your property includes lots oftrees, install guards to keeptwigs and leaves out of thegutters.• Make the home accessiblethrough the front door. Manyhomeowners enter their homethrough a side door or throughtheir garage. If you fall into thiscategory, keep in mind thatprospective buyers will beentering through the front door,so make this area accessible.Clear any clutter, such asovergrown hedges, away fromthe front door, and considerupgrading the door handle to a
more modern feature. Inaddition, make sure the lock onthe front door doesn't stick,forcing the realtor and buyers toimmediately struggle beforeentering the home. You wantbuyers and their real estateagents to get in and out of thehome as smoothly as possible.• Make sure all plants,including flowers, are living.Dehydrated or dead plants andflowers are eyesores, and theywill give buyers the impressionthat you didn't pay muchattention to your property. Makesure all plants are alive andthriving and replace those thataren't. You can replant newflowers or plants or just usepotted plants instead. Whenpurchasing new plants, chooselow-maintenance varieties thatappeal to buyers who wantgood vibrant plants but mightnot want to put in much workinto the garden.When selling a home,homeowners can employ anumber of tactics to improvetheir home's curb appeal.
How to improve your home's curb appeal
Ensuring a home's primary entryway iswelcoming and well-groomed is one wayhomeowners can improve curb appeal.
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Office: 518-212-5680 ext. 111Fax: 518-212-5683Cell: 518-321-4374
Polly SlezakLicensed Loan Originator
E-Mail: [email protected]/pslezak
Licensed Mortgage Banker - NYS Banking DepartmentCompany NMLSR ID# 3232 • Loan Originator NMLSR ID# 56511
4812 State Highway 30 • Amsterdam, NY 12010
EEdd Pierpont
Gott UU Covered
GotUCoveredHomeInspections.com
•• HOMEE INSPECTIONSS •
NY Lic. #16000022349NACHI #05122792
104 Reed StreetCanajoharie, NY 13317
(518) 332-6294Fax (518) 673-3667
VMMVirginia M. Mackey, LLC
Real Estate226 E. Fulton St., Gloversville, NY 12078Marguerite King
“Markie”Licensed Real Estate Salesperson
(518) 773-3298 • FAX (518) 725-8615 • Cell (518) 774-2717www.vmackey.ihouse2000.com
email: [email protected]@yahoo.com
Claudia CrawfordLicensed Associate BrokerServing Montgomery, Fulton& Saratoga Counties
4720 State Highway 30Amsterdam, NY 12010Cell 518-866-1317Office 518-843-4343Fax [email protected]
Four Star Realty Group
Licensed Broker, Licensed Sales Assoc. & OWNERS
308 Main Street, Middleburgh, NY 12122Office 518-702-4194Fax 518-702-4059
518-495-9464 Tracy518-209-5369 Lisa
Real estate investors havemany reasons for making suchinvestments, but one of themore common motives behinda decision to invest in aproperty is the belief that realestate rarely depreciates invalue. Though the recenthousing crisis might havedebunked that myth once andfor all, real estate is still widelyconsidered a sound investment,one that many people wish theycould afford to make.
Those who have alreadyinvested in real estate knowhow difficult it can be tomaintain a property much lessimprove it, which should behigh on an investor's prioritylist. But improving a propertydoes not have to involve acomplete overhaul or any otherdramatic changes. In fact, thereare several simple waysinvestors can improve their realestate investments and improvetheir chances of turning a largeprofit when they decide to sell aproperty.
• Hire a property managementfirm. Some real estate
investors, especially those newto the business who justpurchased an investment andhave little money to spare, shyaway from hiring a propertymanagement firm. But such acompany is worth the expensefor investors with little time orknow-how with regard to fixinga home. A propertymanagement firm will ensurethe building is kept in shape,and depending on youragreement with the company,may even take care of cleaningvacant apartments, readyingthem for showing and rentingthem to new tenants. Perhapsthe biggest advantage toworking with an effectiveproperty management firm isthe likelihood that they will turnover the vacant apartmentquickly, ensuring you aren'tlosing money when tenantsmove out.
• Carefully vet prospectivetenants. One of the easiestways a property can fall intodisrepair is to allow bad tenantsto move into the building. It'sunderstandable that investorswant to get a building occupied
as quickly as possible so theycan use tenants' rents to payfor the property. But badtenants can cause damage tothe property, and their behaviormight encourage reliable fellowtenants to find a new livingsituation. When looking to fill avacancy, establish a minimumincome requirement forprospective tenants and askapplicants to produce proof ofincome and references frompast landlords. This increasesthe chances you will find arespectful tenant who's fullycapable of paying their rent ontime.
• Work quickly. Few peoplewant to rent forever, so expectsignificant turnover, especially ifyour investment property is alarger complex with multipledwellings. If you aren't workingwith a property managementcompany, an easy way tomaximize your profits on aninvestment property is to workquickly when turningapartments over after a tenantmoves out. This includespainting and cleaning theapartment, and the process
should go smoothly if youproperly vetted tenants and thevacant unit did not suffer
significant damage while theprevious tenants were livingthere. A unit with just minorwear and tear should take oneweek or less to get ready toshow to prospective tenants,
and the unit should be vacantfor only one month before newtenants move in. Anything
longer than a month and you'relosing money you don't have tolose.
• Upgrade appliances. Rentersare just as likely to fall in lovewith curb appeal as buyers are.While there may not be a yardto entice renters if youpurchased an apartmentcomplex, curb appeal can applyto an apartment's interior. Oneof the more notable eye-catchers to prospective rentersis updated appliances,especially since appliances maybe the only items actually in theapartment when it is shown.
Stainless steel appliancesprovide an instant upgrade overolder appliances that may
appear dated and are certain tomake a strong first impressionon prospective renters, many ofwhom would be willing to paymore in rent for a unit withupdate appliances. In addition,renters may feel that landlordswho took the time and spentthe money to upgradeappliances are likely to make agreater effort maintaining theproperty.
Investors can maximize theirreturns on investmentproperties in a variety of ways,many of which don't requiresignificant effort.
Simple ways to maximizeprofits on your investment property
Turning over a unit when a tenant moves out
should take no more than a week.
Mohawk Valley Inspections, LLCYour Full Service Home Inspection Headquarters
Buy And Sell With ConfidenceOffice: (518) [email protected]
Timothy AdamsLicensed InspectorNYS# 16000045787
CELL: 518-424-5621
Judith A. PhetteplaceLicensed Real Estate Broker
316 MOHAWK DR.TRIBES HILL, NY 12177
HOME: (518) 829-7813OFFICE: (518) 829-7250
FAX: (518) 829-5119
We Also Specialize in Property Management
Kathleen M. MussiLicensed Real Estate Broker/Owner
A&M PROSPECT PROPERTIES LTD.FULL SE RVICE REAL ESTATE
217 N. Main Street • Gloversville, NY 12078
Tel 518-773-8457Fax 518-773-9734Cell 631-875-8646
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www.ADKSrealty.com Your local guide to the Adirondacks
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There is no denying theprofound impact that therecession has had on the realestate industry. For the lastseveral years, the real estatemarket went from booming toone characterized by homessitting on the market for monthson end. New home sales alsohave been conservative, andbuilders are cutting back onsome offerings that were oncecommonplace.
The National Association forRealtors says that, despitefloundering sales, there arefewer foreclosed homesavailable now than in recentyears. Distressed homes --foreclosures and short salessold at deep discounts --accounted for 25 percent ofhomes sales in May of 2012.That figure is down from 28percent in April and 31 percentin May of 2011.
While home sales haveincreased, money is still tight inthe building industry andamong home buyers. As such,instead of over-the-top featuresin homes that were once
becoming the norm, buildersare now focusing on morevalue-conscious designs andofferings. The list of add-onsalso has been reduced.So what can buyers expect tolive without when buying anewly constructed home? Hereare a few of the commonfeatures that are falling by thewayside.
• Sunrooms:Although the "bring-the-outside-in" movement wasonce strong, builders are nowfocusing on home features thatimmediately add value andattract the eye of buyers.Therefore, they're putting theirresources into linen closets andlaundry rooms while de-emphasizing sunrooms.
• Extended ceiling heights:It can take a lot of energy toheat rooms with 15-footceilings. As a result, grandiosefamily rooms and two-storyfoyers are less attractive tobuyers focused on savingmoney. Homeowners wantspaces that are easier to heatand cool.
• Luxury bathrooms:Many private residence luxurybathrooms rival those found atpopular 4-star hotels. But luxurybathrooms are being phasedout in favor of less expensive,more practical options.
• Outdoor kitchens:Although entertaining at homeis one way to keep budgets incheck, some homeowners haverealized they don't need acomplete backyard kitchen witha pizza oven and brick fireplacein order to host guests.According to a survey from theNational Association of HomeBuilders, outdoor kitchens arethe second least-likely featureto be included in homes built in2012.
• Media rooms:Individuals certainly love theirgadgets, but many of thesegadgets have become smallerand more portable. Thatreduces the need for gianthome theaters and gamingspaces.
While certain features aredisappearing, there are others
that are growing more andmore popular. Dual sinks inkitchens, walk-in closets, extrastorage areas, and hiddencharging stations for devicesare likely to show up more and
more in new home designs.The design of new homes ischanging to be morebudget-friendly and alsorepresent the changingpriorities of home buyers. As a
result, today's newly designedhomes will likely look muchdifferent from homes built just afew years ago.
Home features that are disappearing
Tall ceilings in family rooms are being eschewed in favor of
smaller, more intimate spaces.
John De GeorgioNYS Licensed Sales Associate
[email protected]: 518.813.6017
603 Altamont AvenueSchenectady, NY 12303
Office: 518.382.7535Fax: 518.382.7538
Office: 518-212-5680Fax: 518-212-5683Cell: 518-321-4374
Paul HansBranch Manager/Licensed Loan Originator
E-Mail: [email protected]/phans
Licensed Mortgage Banker - NYS Banking DepartmentCompany NMLSR ID# 3232 • Loan Originator NMLSR ID# 54549
4812 State Highway 30 • Amsterdam, NY 12010
Res: 518-829-5163Cell: 518-424-9752
www.judithannrealty.comE-mail: [email protected]
Joelle L. Phetteplace-BluvasAssociate Broker
316 MOHAWK DR.TRIBES HILL, NY 12177
OFFICE: (518) 829-7250FAX: (518) 829-5119 Visit Us: www.mohawk-realty.com
MOHAWK Towne & Country RealtySue Leavitt, Licensed Real Estate Broker
Corner Rte. 5 & McKinley Rd., Palatine Bridge, New York518-673-5482
Amanda Haig, Sales Assoc. 518-673-3235Pete Manikas, Sales Assoc. 518-673-5482
Joann Christman, Assoc. Broker 518-256-4911Connie Dingman, Sales Assoc. 518-673-2026
Nancy Dornburgh, Assoc. Broker 518-993-2335Joan Galusha, Assoc. Broker 518-332-9707
Morningg Jogger?Run all over the hill from this Fort Plain 4 bed-room Ranch; 2 1/2 baths, gleaming hardwoodfloors, oversize living room, kitchen, breakfast& family combo room with fireplace; big walkin closets, lots of storage. Basement rec room,
attached 2 car garage & MUCH more.$169,500
55 Acress w/Pool3 bedroom, T/O Danube Ranch with sunny
kitchen, living & dining, 2 pellet stoves; 2 1/2baths & finished basement with family room, bedroom, office & 1/2 bath. Pool and pond.
Breezeway to 2 stall garage, Fort Plain Schools.$179,500
St.. Johnsvillee BungalowPristine 2 bedroom on the hill overlookingthe school. Very nicely maintained with attic
room for a 3rd BR. 2 car garage - A “One Owner” home with low taxes.
$69,900
Coloniall Homestead100+/- acres, 4/5 bedrooms, 2 1/2 baths. Hobby
farm, large eat-in kitchen, dining room, living roomand office/5th bedroom. Jacuzzi tub. Run in stall
and a large barn for hay and/or animals. $249,900
NEW LISTING
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RREE AA LL EESS TTAATT EE GGUU II DD EE
SERVING HOMES IN THE FOLLOWING COUNTIES:� Albany � Fulton � Herkimer
� Montgomery � Oneida � Otsego� Saratoga � Schenectady � Schoharie
For More Information Call John Snyder 518-673-0129
The Original Family
Reach Over 110,200 Homes Distributed In:
March 23, 2013 IssueDeadline Friday, March 15, 2013
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