yol. 1 issue 7
Real Estate Marke: olace
800-721-1000 www.thedailystar.com 607-432-1000 P.O. Box 250 ·102 Chestnut Street, Oneonta, NY 13820
Fabulous Cooperstown Charmer Has It All
Bim Ashford, Associate Broker Prudential Fox Properties
607-547-2000 ext 104 AshfordB@PruFoxProperties .. com
At a Glance Agent is Bim Ashford Price: $449,000
Location: 254 Beaver Meadow Road, Cooperstown MLS# 76863
Hit a home run with this stunning 6 year young, 4 bedroom, 2400 square foot contemporary with 3 full bathrooms. Resting on 3 full acres boasting beautiful vistas in every direction, this home is located within minutes of historic Cooperstown, Bassett Hospital and the Clarks Sports Center.
A spacious open floor plan which includes cathedral ceilings, Hardwood floors throughout, a fully finished walk-out basement and an enclosed sunroorn. The newer family room provides aU the space necessary for a growing family, A modern kitchen, with all the amenities affords all the preparation conveniences for parties and family gatherings. The detached two car garage offers excellent protection to your vehicle from the elements.
Updated electrical, plumbing and insulation affords the best savings on you fuel and power bills.
The seller is motivated and this is a "must see!" Call today and schedule an appointment.
Find your next horne at PruF oxProperties.com
Rock Solid in Real Estate.
It's The Sign of Success™
New Oneonta Listing! This spacious home has loads to offer. In the same family for the last 75 years this home has been lovingly cared for and maintained. Features include natural woodwork, formal dining room, large eat in kitchen and I st floor bedroom and bath. 2nd floor has 2 additional bedrooms plus a I bedroom mother in law apartment which is currently not being used. This could easily be turned into additional bedroom and living space. Home sits on comer lot with patio and 2 car detached garage. Great location near elementary school, Boys and Girl's Club and playground. $134,500. Give Fred Plautz a call today to schedule on appointment to see this great home. MLS#78073
~~~;;_~!:=±:!~~~;:~175 Ft Of Prime Waterfront
L. Property ••••• in Oneonta School
district. Beautiful pine vaulted ceilings, 3 season sunroom, large lot. Bring your boat to the new dock and move in! $329,000. Give Anna Snyder a call for info. MLS#77986
LAND· LAND· LAND· LAND· LAND LAND, LOTS OF LAND!
Looking To Build Your Own Home??
Looking For Recreational Or Hunting Properties?
Looking for a well maintained home on a large corner lot? This is it! Nice 3 bedroom, 2 bath home that offers many conveniences . Walking distance to School, Boys and Girls Club and Little League Fields. Price Reduced to $121,000. Call us for more details.
o We have any and all types of acreage available, from the ~ small building lot to the 100 plus acre recreational parcel. .....J We have pieces next to State Land, we have waterfront and we have lots in subdivisions; you name it we have it! Give Us A Call And We'll Help You Find The Right Parcel.
Price Reduced to $ I 49,900! Incredible value, fantastic home; light filled rooms, 3 fireplaces, sunroom, original doors & hardware, moldings, wide plank floors and over an acre lot with gorgeous perennial beds. Homes like this just don't come along very MLS#75628
New Price On This ••• Downtown Oneonta historical building with storefront and 2
Low Maintenance t:-_-~I Townhouse! This great 2 story townhouse offers a functional floor plan and is the perfect place for simple living.
Home has 2 bedrooms, I 1/2 baths plus loads of closet and storage space. Hurry and call today because these townhouses go quickly. $139,900. MLS#76807
$99,000 For This Oneonta 2 Family! Solid 2 unit with one 3 bedroom apartment and one 2 bedroom. Tenants pay utilities. Easy walk to downtown and Main Street. Give us a call to take a look at this great investment. MLS#77925
Great Lakefront Buy! You can be the new owner of this spacious 3 bedroom year round lakefront home. Magnificent views, large yard and 2 car garage. Won't last at $189,900. Give us a call for details. MLS#77615
Goodyear Lakeside Neighborhood! Nice 3 bdrm, 2 bath home on a beautiful ~ acre
lot just steps away from Goodyear Lake. Finished basement set up as a Mother-in-law apt. $130,000 Contact Anna Snyder for the details. MLS#77082
Thresholds The Daily Star, Oneonta, NY
How Much Can You Afford to Spend?
Once you have determined that you want to buy a new home, one of the first, most important factors to consider is how much you can realistically afford to spend. Typically, new homes are purchased with a combination of cash down payment and a mortgage loan. What is a Mortgage?
A mortgage is a consumer loan for the purpose of buying a home, using the home you are buying as security or collateral. Important aspectsofa mortgage include:
* Principal - the amount of the loan or cash borrowed.
* Interest - the amount the lender charges for the use ofthe funds or principal. Interest rates vary around to a number offactors, including the term and conditions. The borrower is expected to repay the principal with interest.
* Amortization Period - the number of years it will take to repay the mortgage in full. This time typically ranges from 15-25 years.
* Term - the length of time a mortgage agreement exists between the consumer and lender. The shorter the term, the lower the
interest rate will be. * Maturity Date - the end of the term, at which time the borrower can either repay the balances or renegotiate the mortgage at current interest rates.
Consumers can choose from a variety of options based upon personal needs and circumstances such as open or closed, or fixed orvariable rate mortgages.
Types of Mortgages
Fixed Rate - With a fixed rate mortgage, an interest rate is established prior to closing and does not changes forthe entire term of the loan. Many banks enable you to lock in the interest rate months prior to closing, which may be advantageous if rates are low and subjectto rise.
With fixed rates borrowers know what their monthly payments will be without having to worry about rate hikes that would increase the amount of the payment. However, if rates decline, borrowers will not see a reduced payment.
If rates decline significantly, you can refinance the mortgage to take advantage of the lower rate. Refinance charges will be
incurred, so the interest rate drop must be able to justify the charges.
Adjustable Rate - With an adjustable or variable rate mortgage the interest rate will vary throughout the duration of the loan. Adjustable rates are initially priced at a lower rate than fixed rate mortgages. Adjustable rates typically have a rate increase cap per year and a lifetime cap on the interest rate. Adjustable rates are preferable for borrowers who only plan on being in a home for a short period of time (3 - 5 years), as the monthly payments for that time frame will be lower than a fixed interest rate.
Since interest rates are difficult to predict, it may be difficult to set a budget, as rates hikes will increase the amount of your monthlypayment.
How Much Can You Afford?
Determining how much you can afford to spend on your new home is based on two factors.
1. The amount of down payment you will have available. The larger the down payment, the less you will need to borrow. This can lower
your mortgage payment and help save you thousands of dollars in interest.
2. Your ability to carry the mortgage debt. A simple method can help you determine the mortgage amount you can pay back on your income. Start by calculating the maximum monthly payment you can afford.
Lenders recommend that you use no more than 32% of gross income to cover principal, interest, property taxes and heating costs.
Gross household income is the total salary, wages, commissions and other assured income, before deductions by all household members who are co-applicants of the loan. Example: Gross annual income = $55,000. Gross monthly income = $4,583 Maximum monthly payments = ($4,583 x .32) = $1,467Next, calculate the size ofthe mortgage loan your payments will handle.
Once you have determined how much you can afford in payments, you can determine the maximum amount of the loan you qualify for. Example: Monthly payment = $ 1 ,467Less estimated monthly taxes and heating =
$275Amount available for principal and interest = $ 1, 192The amount of the loan than can be served with a $1,000 monthly payment depends on the interest rate. The lower the rate, the higher the amount you can borrow. At a 6.5% interest rate, it takes $6.32 per month to repay $ 1 ,000 over a 30-year period. This means that if you borrow $ 1 00,000 and can obtain a mortgage with a 6.5% interest rate, the payments for this mortgage would be $632.07 a month. Your total payments would tally $227,544.49. Add your down payment amount to the calculated mortgage amount and you will have a good idea ofthe price range of homes you can be considering.
Most lenders are asking for 10% - 20% downCheck with your bank or other financial institutions for the current interest rates. Financial institutions also provide mortgage information and publications to consumer's free-of-charge, to help you determine the amount of money you can borrow.
(opyright© 2070 Publishers-Edge
A HAPPY HOME!
Warm and sunny 4 Bedroom West End. Oneonta home with refinished wood floors, beautifully remodeled kitchen and bath, replacement windows and enclosed front porch. Level yard with lovely retaining walls and landscaping. Garage. FIRST TIME
OFFERED! $135,000 MLS# 78145
$289,900 MLS# 77654
LOVE PRIVACY &. WILDLIFE?
Cozy 2 bedroom ranch located in the village of Otego. Perfect for one floor l.iving with plenty of storage. Partially heated basement great potential. for a family room, or guest quarters. 3.5 hrs from GWB
3 bedroom, 2 bath home on 43+ acres. Open, flowing floor plan, radiant heat, cathedral ceilings. Charming 2 bedroom apartment over huge 3 car garage for extra income or guests. Don't think twice, take a look now!
$132,000 MLS# 78118
INVITING &. METICULOUSLY MAINTAINED!
lovely 3 bedroom, 1 bath horne on a corner lot in the Village of Oneonta. Garage, fenced yard and an enclosed front porch makes it very livable. The excellent kitchen, wood floors and natural light allows life to be enjoyed here!
light and bright 4 bedroom 1 1/2 bath home. Updated custom oak eat-in kitchen, lots of built-ins for books and storage, replacement windows, private yard with gorgeous perennials. Great location and neighborhood!
Magnificent move-in condition 4 bedroom .2-1/2 bath West Oneonta colonial-style home on almost 4 lush, level, landscaped acres adjoining golf course on quiet dead end street. Fabulous floor plan features updated oonterisland kitchen w/ newer appliances. Breakfa.st nook, family room, rear deck, Thls home spafi(lesl
$129,900 MLS# 78038
$149,900 MLS# 75856
~ this is our home.
~ Prudential Fox Properties
make it yours. 607-431-2540
Cavanagh-Wright ~td estate
Phone (607) 432-9700 • Toll Free 1-866-432-9700
e-mail: firstname.lastname@example.org ~
4966 State Hwy 23, Suite 2, Oneonta, NY 13820 [iW] -~ I =
(Next to McDonald's, Behind Quickway) 'EALTO .1.5
www.eracavanaghwright.com @l ~ ... :~::.~~
...-.... ••• ERA
Each Office Is Independently Owned & Operated
Always There For You®
Dick Cavanagh Kathy Wright
EXQUISITE CURB APPEAL!! Brick exterior, new roof & spectacular front porch give the words welcome home a whole new meaning! 3- 4 BR home has unique Old World Charm. Located on a desirable center city street Crown moldings, cedar closet 2 exquisite Sherle Wagner sinks, a jacuzzi tub & marble floors. Private courtyard with a greenhouse, workshop/garage, pathways and amazing flower gardens just begging to be revived! $249,900 #73385
A MUST SEE! Extremely well maintained 3 BR Ranch in a wonderful country setting on over an acre. Large FR with brick fireplace & LR with woodstove. Newer kitchen, windows, roof & furnace. Rec. room, office & bath in the walk-out lower level. $179,500 #75963
A MUST SEE HOME!! Bright Spacious, Open Floor Plan is just a few of the highlights of this really nice home. A large family room with doors leading out to a large deck. The kitchen boasts of plenty of counter space, skylight & another set of doors leading to deck where you can relax on, overlooking a private, scenic backyard. Cozy up in the LR in front your woodstove. Master BR is private with its own bath & balcony. Town of Oneonta. $179,000 #76902
Move In Condition! Well maintained 3 BR home on a quiet country road. Enjoy lounging on the large L shaped deck. Privacy abounds on 1.1 acres surrounded by woods. Curl up next to the cozy fireplace on those chilly nights.A must see! $65,000 #73131
A little imagination equals a lot of potential! 3 BR plus one bath of true one level living equals one great house in a fantastic location! Enclosed front porch & nice neighborhood-walkable to Greater Plains Elementary School & Town pool. Bring your imagination and tum this West End Cutie into a wonderful family home to be proud of! $109,500 #75639
PRIVACY, BEAUTIFUL PROPERTY" RANCH L>.;;:!ti:::~M3 STYLE HOME! Well maintained home boasts of -
not only 3 BR & 2 full baths. but also includes a Nice country location with great views.
spiral staircase leading to a finished lower level FR Almost 14 acres of mostly hardwoods & a with ceramic woodstove & bar, added workshop fenced in horse yard. The 34 x 40 pole barn with area, a back deck overlooking open meadows & a 15 x 40 addition has electric & water service. mountains. Surveyed acres on 2 sides of a private Home needs total renovation, which enables road. This home has an open floor plan that is great you to design and remodel it to your liking or for entertaining. Additional property can also be build new using existing septic, well, electric &
purchased. $159,500#76291 driveway. $79,900 #77846
Don't miss charming & spacious Greek Revival located not farfrom a very friendly village! 4 BR, 2 baths, large LR with wonderful gas fireplace. Kitchen & DR open & updated. This is an ideal home for family living. $149,500 #75643
Historic Elegance! 4 BR, 3 bath Colonial located in a quaint Village. Offers Warmth & Charm of Yesteryear. Relax in the knotty pine library loaded with built-ins. Cozy up to the fireplace in the large LR. The Holidays or just quiet entertaining doesn't get any better than gathering in the gorgeous Formal DR with AMAZING wood floors. While sitting on a very large lot this home just cries Family! $154,500 #75857
This one level living INCOME PROPERTY has a current CDC, off street parking & is conveniently located within walking distance to shopping, restaurants & public transportation. Can be purchased with MLS #75581 for $220,000 which is currently rented for the 2010/2011 school year & also has a current CDC. $75,000 #75580
MANY LAND OPPORTUNITIES AVAILABLE - CALL 432-9700 FOR DETAILS
The Daily Star, Oneonta, NY
Questions To Ask When Buying A Manufactured Home
By Jeff Kennedy
Why should I buy a manufactured home?
Construction costs per square foot for a new manufactured home average from 10 to 35 percent less than a comparable site-built home (excluding the cost of land). Buying a manufactured home can be more affordable for first time homebuyers, singles, retirees, or families.
Where can I purchase a manufactured home?
Most manufactured homes are sold through retail sales centers. Some are independently owned and operated, while others are owned and operated by manufacturers. In some states you may buy a manufactured home from a community owner, developer, or real estate agent. Retailers usually help arrange for delivery and installation and may also help in arranging financing and insurance coverage.
Is it possible to install a manufactured home myself to save money?
Most states have strict regulations regarding the installation of a new manufactured home. Your retailer or the subcontractor installing the home is responsible for adhering to state regulations and the manufacturer's instructions. The proper method of installation will depend on the design of the home, soil conditions, and other factors. The lender may also have requirements that must be followed. Who should I contact about warranty issues?
The retailer is usually the contact for warranty service and has responsibility for the installation and servicing of the home. Manufacturers provide warranties guaranteeing the quality, workmanship, and heating and cooling systems for a specified period oftime. Appliances usually have separate full or limited warranties. Most buyers are also protected by implied warranties under state laws. Is the quality of a manufactured home as good as a sitebuilt home?
Manufactured homes are constructed in a controlled factory environment and built to strict HUD codes. The HUD construction and safety standards are designed to ensure quality and long-time performance. A site-built home uses traditional building
This 3 bedroom, 1 1/2 bath home is situated on a 3/4 acre lot in Upstate NY village. Has wide plank floor, original woodwork, and claw foot tub, updated kitchen, furnance and septic. Just a short drive to Cooperstown and Oneonta. $75,500. Call Betsy@ 607- 643-3545 or Sue @ 607-5'63-7012. #77143
techniques that meet local or state building codes. The quality of both sitebuilt homes and manufactured homes depends partially on the reputation and standards ofthe manufacturer or builder. Will my choice of homes be more limited with a manufactured home?
Manufactured homes are available in a wide variety of sizes, designs, and floor plans. In many cases they are indistinguishable from site-built homes and they are able to blend in compatibly with neighborhood architectural styles. Is it possible to customize a manufactured home, or will my choices be more limited than a site-built home?
Most manufactured homes have the typical features you would expect in a site-built home. Since many manufacturers use computer-assisted design, you can customize the floor plan, interior finishes, and exterior design. Floor plans can range from basic models to elaborate designs with features like vaulted ceilings, bay windows, walk-in closets, recessed bathtubs, etc. Most manufacturers also provide options to assist those with special needs such as accessible counters, extra wide halls and doorways, sliding doors, or safetyequipped bathrooms.
Are there restrictions on where I can place a manufactured home?
Some towns have zoning regulations that limit where you can place a manufactured home, however with the innovative new designs making manufactured homes virtually indistinguishable from their site-built counterparts, more urban and suburban governments are loosening restrictions. It's important to check the zoning regulations in the area where you want to live before purchasing a manufactured home.
Willi be able to get insurance for a manufactured home?
Several insurance companies specialize in coverage for manufactured homes. The retailer that you buy a home from should be able to provide you with the names of several insurance companies.
Are manufactured homes more susceptible to fire and damage from tornadoes or hurricanes? A national fire safety study conducted by Foremost Insurance Company concluded that site-
Nice center city home. Come check out this 2-3 bedroom 1 1/2 bath home. 1\vo enclosed porches with new storm windows, and a 1 car detached garage. 133,300. Call Bob Wtlson @ 607-434- 1793, #77587
Newly completed 3 bedroom~ 2 bath ClIP.f abounds with energy features inCiudim! on-demand not water, propane neat with Life Breathe hot air recirculating and filtering. Additional acreage available. $159,000. Call Bob Wt1son @ 607- 434-1793. #75865.
A 1998 doublewide and a mobile home on 7.65 acres with gorgeous views in upstate New York This can be your piece of heaven, to either rent out or live-in or both. Close to 1800+ acres of state land. $99,800. Call Gus Lampo 607-287-0069. #76028.
Four bedroom, 1 1/2 bath family house in the quaint village of Unadil1a. Large rooms throughout with fully insulated sunroom at rear of house. $124,900. Call Bob Wilson @ 607-434-1793. #77326.
6 acres of pristine land for your dream home, or development in the city of Oneonta. Gorgeous
views, public & sewer, &
natural there at the
Call Me Today ...
I'll get the job done
built homes are more than twice as likely to experience a fire as manufactured homes. In areas prone to hurricane-force winds, the standards for manufactured homes are equivalent to or more stringent than current regional and national building codes for site-built homes in high-wind zones. Proper installation and anchoring of a manufactured home are key factors in how well it will hold up in severe weather conditions.
Can I make repairs or renovations on a manufactured home?
Your homeowner's manual outlines general maintenance requirements. It is advisable to hire a professional for more
extensive repairs or renovations. Failure to follow the manufacturer's instructions on maintenance and renovations can void your warranty. If you want to add an addition such as a freestanding garage that meets local building codes, you will need a local construction permit.
Will my manufactured home appreciate in value?
Whether your manufactured home will appreciate in value depends on many ofthe factors that affect any home such as the desirability and stability of the community, supply and demand for homes in the area, and how well the home has been maintained.
Copyright (e) 2006 Publishers-Edge
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Gracious Center Hall 4 bedroom, 2 Y2 bath Colonial. Beautiful new kitchen and family room with wood floors and radiant heat. Inground pool, decks, wa1king trails. Only $295,000 Call Carol Chesser @607-434-7653 #77647
Beautiful Victorian home, many upgrades ,large comer lot. Could also be purchased as a two family home. $149,900. Call Cricket Keto @607-287-8458#75754.
Peaceful Country Setting on over an acre. 3 BR-2 bath dOublewide in excellent condition. Skylight, garden tub,_gas fireplace. Be prepared to fall in love. $89,000. Calf Carol Chesser @ 607-432- 7653. #76714.
78 acres, 100% wooded, great hunting land or use it for recreation. Property has a year round cabin with all the bells and whistles and a two car garage, This prope~isamustsee! $175,000. Calf Cncket Keto @ 607-287- 8458. #76302.
New Cape on 1 acre,3 bedrooms, 2 baths, oak & ceramic floors. $189,000. Call Kellie Place @ 607-434-5263 #78064.
Charming one story home on a quiet side street. 3-4 Bedrooms, 2 baths, large sunroom, recreation area, fireplace and 12'X16' studio, shop or playhouse. Large lot, fenced back yaril, new roof and attached~. $147,500. Call Kellie Place (g] 607- 434-5263. #77465
Quaint ~ End Oneonta home in A charming Sears built 3 bed, 2 bath Best deal in the City of Oneonta!
great condition! Hardwood lIo:t Land in Delaware ~ Driveway & 3 bedroom, 1 Y2 bath, 2 car
remodeled ba1h wi1h Corian ~ V1Ill1ge home wi counvr setting. electric are in to a ooden Amish garage, new roof, flOOring, refrig
tub surround, ~ fenced am Frpl, hdwd firs, eat-in kit, private Shed. Public water is available on and stove, hardwood floors
i!W,Ound pool. Central air, full bickyard. Patio~rch, stonewallst the paved road with 192+ feet of double lot, farivate setting. Well
lin'mabIe l:r.!Sement, covmrl deck am att r. Many u tes w/newer roo
~n~toa1carn' an reglacement windows. frontage. ~14tc00. Call Gus built and antastic ..f_.rice. Call
,900. ~ \bIpe - U 4~00 . Call Ginll;er volpe @ Lamfo 07-287-0069. Carol Olsen @ 60 -434-7436
'JK7-']jl,39. #78051. 607 34-2839. #773 6 #7737 $139,900. #77930
"The Area's Tech
Ginger Volpe, ABR Join My Facebook
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2005 - 2009 Oneonta NY
Newly renovated 3 bed, 2 bath AANCH LIVING! 3beds, 2 baths, 2
Top Agent w/many updates, m~cent home-over 5 acres. Open beam Unique fieldstone home on Local Homebuyers
almost an acre in upstate NY. 3 car garage, deck, pellet stove. Close
for Sales views of tfie coutryst , 11 + & cath ceilings. Sun porch, bedrooms, 2 baths, the most Phone: 607-434-7436 to Oneonta. Charming home in a
open acres. Wood floors, newer
in 4 Counties. kitchen, newer bath6 sunporch, decks, stonewall, stream, beautiful dining room in town. great neighborhood. $119,900. Call
deck, pool barn. $1 9,000. Call private. $149,000. Call Ginger Close to eve~, but at the end Email: Carol Olsen at 607-434-7436.
607 -434-2839 Gin~er volpe @ 607-434-2839 Volpe @ 607-434-2839. of the road. $1 ,800. Call Gus #77382
#7281 Lam¥o @ 607-287-0069. email@example.com
The Daily Star, Oneonta, NY
Choosing a Real Estate Agent The Right Agent Works Hard for Your Money
Whether you are buying or selling a home, enlisting the assistance of a real estate agent familiar with the local home market, who understands your needs and objectives, is a critical part of a successful and satisfying home sales transaction.
It is tempting to simply thumb through the yellow pages and call a real estate broker that has a name that sounds professional and trusting (are there any other kind?), but a better place to start is seeking the advice of someone you already know.
Ask a family member or friend who has recently bought or sold a home who they would recommend. Don't be surprised if that isn't the real estate agent they used for their transaction, after all, you are benefitting from their personal experience in buying or selling their home. As you will soon discover, the buying or selling process will result in your interacting indirectly with several agents in your area, and the"cream of the crop"willieavea lasting impression.
If you are new to the area, take notice of real estate yard signs near the location where you are considering purchasing a home. See which broker's signs appear most frequently. Check local newspapers and real estate guides for listings and advertisements. Good agents tend to have a higher amount of listings and advertise their services and sales achievements proudly.
Make a list of at least four potential agents and make an appointment to meet them. The best place to interview a potential agent is at their office. This gives you the opportunity to check out their working environment. Notice how well organized and inviting their office appears. Observes the names on any awards or plaques on the walls and see if the agent you are considering is listed on those recognitions.
Find out how many years the agent has held their real estate license. While a newly licensed agent may have unbound enthusiasm and more time available to assist you, unless your transaction is very basic, you will be better served utilizing the services of an agent with at least a few years of industry experience under their belt.
Also, inquire ifthey are a full or parttime agent. A solid commitment to their profession often translates into a stronger dedication to your individual transaction. A good guide to an agent's success in the marketplace is their annual sales volume. Look for an agent with at
least $' million dollars in yearly sales.
Then it's time to focus on your needs and evaluate how well you feel this particular agent can address those needs.
Ask them how familiar they are with the area in which your home is located or are hoping to buy. They should be able to share knowledge about topics such as schools, nearby recreation facilities, shopping, and general home sales trends in that neighborhood. Find out if they have sold or assisted in the purchase of homes in the vicinity, and if so, how recently those transactions occurred. Perhaps the most crucial evaluation you will need to make regarding a potential agent is also the most subjective; how well you feel they will work with you through the exciting, and sometimes challenging, process of purchasing or selling a home.
Note how well they listen to you during the initial interview. Do they make eye contact, ask questions and take time to hear your reply or do they interrupt you? Ask how often they will communicate updates to you and how, and when, you can contact them with questions or concerns.
After you have narrowed your choices down to two or three agents, it's time to move on to the next step. If you are a seller that means having an agent prepare a market analysis of your home. For the buyer, pre-qualifying for a mortgage loan is on deck, and an agent should be able to get you started down the path that ultimately leads to home, sweet home.
Copyright© 2010 Publishers-Edge
MARYLAND- 85+/- acres and a pond wrapped around this country 6 bedroom, 3 bath home & original 1800's barn. An upstate New York property with nature, hunting & recreation. Currently a Cooperstown Dreams Park rental @ $1,600/wk. MLS#75808 $249,000. Addt'125 +/- acres & pond available. Call Tom@(607)435-2068
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BOVINA-MBeautiful home in a quiet village, 1840's 4 bedroom, 2 bath, eat-in kitchen, laundry room, dining room, living room, hardwood floors, new 30 yr architectural shingle roof (new 7/2010), 2 car garage with storage. MLS#77652 $159,900. Call Leslie @(607)435-4255
OTSEGO-Gracious Greek Revival with 3250+/- sq ft & rests hillside on 45+/- acres. Eat-in kitchen, dining & living room, pine den, 3 fireplaces, 4 bedrooms, 3 full baths, 2 half baths, laundry/mudroom entrance from 2 car garage. MLS#757n $299,000. Addt'l 85 + /- acres with lake frontage, barn, well & electric also available. Call Kathy@ (607) 267- 2683
nearly ONE ACRE village lot. 4 bedroom, 3 bath home with 2 car garage features a fencedin CABANA-LIKE backyard with in-ground swimming pool. New addition in 2008 houses a MASTER BEDROOM SUITE with Jacuzzi tub. House has been renovated with modern kitchen, bathrooms, living room with WOODBURNING FIREPLACE. MLS#77956 $259,000. Call Tom @(607)435- 2068
ONEONTA-QPerfectly Priced! Renovated throughout with all new kitchen, new bathroom, finished hardwood floors, new carpet in all bedrooms & hallway, new light fixtures & ceiling fans, enclosed 3-season front porch, walk-up attic & I car detached garage. MLS#77931 $129,900. Call Tom @ (607)435-2068
FRANKLIN-1900 Farmhouse on 5.10 acres. Sunken den with comer woodstove, open beam ceiling & sliding glass doors to deck. Den, dining room & living room have engineered hardwood floors. Family room & living room have pine tongue & groove paneling. MLS#77563 $182,500. Call Leslie @(607)435-4255
construction. 3 bedroom home has been expertly renovated from top to bottom. NEW:
KITCHEN, 3 NEW BATHROOMS, NEW engineered septic system, roof, clapboard siding, windows, plumbing, electric service, FURNACE, water heater, rear deck & more. MLS#77848 $159,900. Call Tom@(607)435- 2068
The Daily Star, Oneonta, NY
What You Should Know About Appraisals and Inspections
By Amanda Knoles
Most people hire an appraiser to determine how much a property is worth but a certified appraisal can also be used for tax purposes or to eliminate private mortgage insurance. An appraiser is often consulted for insurance valuations, estate planning and as a consultant when property owners want to discuss proposed improvements or analyze future use of a property. To determine what your property is worth an appraiser analyzes market data including historic and comparable sales, current offers and proposed improvements. Your property may then be compared to a broader market. Different factors may be analyzed depending on whether the appraisal is conducted for a market valuation or an insurance valuation.
Appraisers compile their data based on information from local real estate agents, courthouse records, Multiple Listing Services and private data sources. The appraiser may make a comparison of similar homes in your neighborhood or he could use homes with comparable characteristics in a different area.
Appraisals are generally considered outdated after six months. A thorough appraiser will take note of the interior and exterior of the home including its layout and any special features along with any improvements that may add to the value of the home. Improvements, also known as contributory value, may vary in worth according to what's more in demand in the home market.
A local appraiser can advise you on the value of improvements such as a second story, deck, guesthouse, pool or finished basement.
Inspections are different from appraisals. An appraiser will note the
visual appeal and construction of a home but an inspector is looking for more specific problems in the structure or components of a dwelling. Appraisals deal with the value and price of a property while inspections center on the condition of a property. Potential buyers and the lenders who are issuing the mortgage often demand an appraisal to insure that the property is worth the seller's asking price. A prepurchase inspection is conducted to assure potential buyers that a home meets structural specifications and to identify any areas that may need repair. An inspection may also uncover any safety hazards or code violations.
Basically, inspections protect the home purchaser while appraisals are more for the benefit of the lender or a seller. An appraisal can usually be conducted in 30-60 minutes while an inspection could take anywhere from two to six hours. Some people mistakenly believe that only older homes need an inspection. The truth is even newer homes can have structural defects or safety and code violations that must be corrected.
When an inspector finds major defects or repairs, the purchaser can demand that the seller make the repairs before closing or the seller may
a specified number of days to complete an inspection after an offer to purchase is made.
Most inspectors recommend that potential buyers be present during the inspection so that defects and potential problems can be explained as they are found. If your schedule doesn't allow you to attend, you will have to look over the findings in the report and ask the inspector to explain anything you don't understand. Inspections cost in the $250 to $500 range but they are an investment that could prevent you from making a very expensive mistake.
Prices for appraisals vary in different regions of the country. Call a few local appraisers for quotes or ask your real estate agent or lender for a ballpark figure. Some of the more common problems found during an inspection are termite damage, water leaks in crawl spaces, poor attic insulation and undetected electrical
opt to deduct the cost of the repairs from the purchase price. In some cases, problems found in an inspection may be significant enough for a potential purchaser to back out of the deal. Many buyers protect themselves by making an offer with a pre-purchase inspection clause. This gives the buyer
If a homebuyer finds problems after the closing it is usually his responsibility unless some provision for a time period for repairs has been included in the sales contract.
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