Real Estate Guide 2.23.13

Supplement 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. St. Johnsville Branch

Dolgeville Branch

54 East Main Street, St. Johnsville NY 13452 • (518) 568-2776

10 E. State St., Dolgeville NY 13329 • (315) 429-9750

Sam Licari -Broker 518-568-2776

ED

C REDU

2 Locations To Serve You

Debbie Sicilia - Salesperson 518-495-5770

Bob Snell - Salesperson 518-321-9897

Heidi Mouyos - Salesperson 315-717-7269

GLOVERSVILLE Walnut Street Priced to Sell At $101,500

EPHRATAH Cty. Rte. 119 $249,000 Outstanding Chalet three story home.

125 acres with 2 garages. Double fieldstone fireplace, security system / total privacy.

Good hunting.

Call Debbie at 518-495-5770

Cathedral 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 dead end 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

PALATINE BRIDGE 127 Failing Hill Rd. $279,000 4 Family exceptional property, 4 living units, perfectly maintained.

Present operating income very good.

Owner financing available for qualified buyer. Only 5 minutes from Canajoharie exit of the thruway.

Call John Case 518-281-8008

SALISBURY 2114 State Rt. 29 $445,000 The Country Store & Apartment.

This gas station, convenience store, gift shop, ice cream parlor, restaurant and bar is a wellestablished 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 16,000-20,000 gallons per month. Newly built successful restaurant and bar. Property has a beautiful 2 bedroom 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

John Case - Salesperson 518-281-8008

GLOVERSVILLE 482 West Fulton St. Ext. $159,000

CED

REDU

Well-kept split-level home. Has apartment upstairs for additional income if desired.

Could be opened up for more bedroom space. 12x12 shed, with above-ground pool, great tree fort playground, & lots of room with fenced-in backyard. Good quiet neighborhood, but yet minutes from city for stores, doctors & in small Hamlet of Meco.

FORT PLAIN 68 Hancock St $120,000 An excellent investment property!

This property is currently leased to an Auto Parts Dealer and a religious organization, with a positive cash flow. Excellent location, plenty of vehicle traffic, plenty of parking and good tenants.

Call Bob Snell for your appointment @ 518-321-9897

VISIT OUR WEBSITE AT www.kinshipproperties.com

Page 1 • REAL ESTATE GUIDE • February 23, 2013

R E A L E S TAT E G U I D E

February 23, 2013 • REAL ESTATE GUIDER • Page 2

Who is responsible for repairs during a home sale?

Many questions arise during the home-buying process. Buyers looking at homes that require a good deal of TLC may wonder who is responsible for the home's repairs, particularly if such repairs are needed to secure a certificate of occupancy. Depending on the situation, there is no clear-cut answer.

attorney to write clauses into the contract to protect their interests.

This allows the buyer to forfeit the sale and walk away from the contract should an issue arise.

The rules often change when buying a home that is a short sale or

There is no perfect home, and things that are acceptable to the current owner may not be acceptable to the buyer who is looking to become the next owner. The home-buying process is typically a careful cooperation between buyer and seller to find a middle ground. The buyer may have to make some concessions, as will the seller. Ultimately, it is this cooperation that often determines if the sale goes through or is terminated.

Buyers should know that, for a home that is not in foreclosure, there are some repairs that should ultimately be the responsibility of the seller. If these repairs are not made, a buyer should think strongly about walking away from the deal, according to Why6Percent.com, a real estate marketing site. Such repairs include:

Before any negotiations can begin regarding repairs, it is adviseable for a buyer to have an independent inspector come out and look over the home and property. Most real estate agents will suggest this be done as a first priority -- even before a contract is entered on the home. An inspection will unveil any potential problems in a home and indicate things that the buyer may not be aware of, including items that do not meet with code or could be unsafe. An inspector also may point out problems that could cause a mortgage lender to give pause. This may mean the lender will deem problems unsafe and refuse to fund the mortgage until repairs are made.

A copy of this inspection report should be sent to the home seller to review with his or her attorney and real estate agent. The buyer working with his own real estate attorney and agent can petition for certain repairs to be made. Many sellers will make such repairs to ensure the purchase goes through, or they will accept a lower purchase price to compensate for the needed repairs, which the buyer will then make. Buyers might want to hire a good real estate

in foreclosure. A home that is in distress is typically in this situation because the current owners cannot afford to pay their mortgage, and thusly, are not able to afford repairs. According to Think Glink, a money-management Web site, buyers may try to negotiate repairs with the seller, but they shouldn't assume that sellers (or lenders in the event of a bank-owned home) are responsible for the repairs.

Generally speaking, most short sales and foreclosures are sold "as is" and may even specify that repairs and requirements for the certificate of occupancy are the buyer's responsibility. A buyer also can ask to have the home price reduced to cover the repairs. But foreclosures are often already deeply discounted.

• 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

Home buyers may be able to negotiate that sellers repair major structural issues, such as a leaky roof. If not, negotiate a lower sale price.

It is always adviseable for buyers to speak with a reliable real estate attorney and a trusted real estate agent to guide them through the process of buying a home. These people can help buyers navigate the important decisions that can affect the home they'll be living in for the next several years.

“...for the personal attention you deserve!”

LANA RUGGIERO, GRI, ASP 11 Forest St., Gloversville (518) 470-4738 www.ruggierorealtyllc.com • mruggier@nycap.rr.com

9 Beech St., Gloversville

Adirondack coziness in the heart of the city!

Spacious 2 bedroom and private yard.

Brand new siding, windows and roof.

Knotty pine interior with efficient pellet stove. $49,900

237 S. Kingsboro Ave., Gloversville

505 State Hwy 29A, Mayfield

273 Smith Rd., Broadalbin Great location, 3 bedroom / 2 bath ranch on 1.5 acres.

Very spacious eat in kitchen with bar, large living room with new pellet stove. $139,900

Modern raised ranch in perfect condition for the buyer who wants to just move in!

3 bedrooms, 2 baths, large family room, eat in kitchen, attached garage. Seller will pay first year taxes! $139,900 A one of a kind, exceptionally well maintained home with GEO Thermal heating & cooling system. Gorgeous new master suite includes tiled spa-like bath with heated floors, California closet.

Immaculate 4 car garage. $275,000

Men and women who have tried to sell a home are likely familiar with the phrase "curb appeal."

Curb appeal is similar to getting ready for a big date, only you're not dressing yourself up to make a strong first impression.

Instead, improving curb appeal involves dressing your home up in the hopes it makes a strong first impression on prospective buyers, many of whom will have a strong opinion about the property before they even get out of their cars to have a look around.

A home with strong curb appeal can entice buyers who are likely to believe that a home with a well-maintained exterior is likely to have an equally impressive interior.

Homeowners who want the process of selling their home to go smoothly can improve the property's curb appeal in a number of ways, many of which don't necessitate a substantial home improvement budget.

• Clean up. The most effective way to improve curb appeal is to clean up the property. Many

homeowners are savvy enough to remove toys and other items from the yard before showing a home, but cleaning up goes beyond removing clutter from the property. Make sure all hedges are trimmed and remove weeds, sticks and other debris from any flower beds.

Lay mulch in the flower beds and garden, as mulch prevents weed growth while helping the soil retain moisture, resulting in more attractive gardens to catch a buyer's eye.

• Get an "edge" on other sellers. Edging is another easy and effective way to improve curb appeal. Edge driveways, sidewalks and other walkways around the property, removing or trimming anything that is hanging over the driveway or walkways. If the boundary between your driveway and lawn is not distinct, consider installing edging materials such as stone or bricks. The edging can be level with the driveway or elevated, but keep in mind that elevated driveway edging can protect the lawn,

preventing kids from riding their bicycles onto the lawn or cars from driving onto it. Adding edging is not a very difficult doit-yourself project.

• Take to the trees. Many homeowners grow accustomed to overgrown trees around their property and may not notice that low-hanging, unsightly

Ensuring a home's primary entryway is welcoming and well-groomed is one way homeowners can improve curb appeal.

branches are hiding the home from view. Buyers want to see the house, so take to the trees and trim any branches that hang too low or obscure your home.

• Clean the gutters. Leaves and sticks hanging from the gutters are a red flag to buyers, who tend to associate clogged gutters with roof damage. Clean the gutters thoroughly before putting your home up for sale and keep them clean throughout the selling process.

If your property includes lots of trees, install guards to keep twigs and leaves out of the gutters.

• Make the home accessible through the front door. Many homeowners enter their home through a side door or through their garage. If you fall into this category, keep in mind that prospective buyers will be entering through the front door, so make this area accessible.

Clear any clutter, such as overgrown hedges, away from the front door, and consider upgrading the door handle to a

more modern feature. In addition, make sure the lock on the front door doesn't stick, forcing the realtor and buyers to immediately struggle before entering the home. You want buyers and their real estate agents to get in and out of the home as smoothly as possible.

• Make sure all plants, including flowers, are living.

Dehydrated or dead plants and flowers are eyesores, and they will give buyers the impression that you didn't pay much attention to your property. Make sure all plants are alive and thriving and replace those that aren't. You can replant new flowers or plants or just use potted plants instead. When purchasing new plants, choose low-maintenance varieties that appeal to buyers who want good vibrant plants but might not want to put in much work into the garden.

When selling a home, homeowners can employ a number of tactics to improve their home's curb appeal.

#3140 - Buy a Job! - Auto Repair & Sales Equipped shop in Dolgeville on Busy Street.

Owner retiring, and most of the equipment stays. Space for 6+ cars, lift, waste oil furnace, nice office . . . . . . . . . . . . . . . . . . . .$145,000 #3139 - Dolgeville - Renovated Village Home - 3 bedroom, 1.5 baths, Interior has been redone, windows, carpets, furnace, kitchen, bathrooms, bargain price . . . . . . . . . .$32,000 #3130 - Linter Road, St. Johnsville - Cozy 2 bedroom cottage on 1/2 acre near Beardslee Lake. Needs some finishing work, lots of potential, has new bath, updated roof, drilled well, walk to lake, right on snowmobile trails. . . . . . . . . . . . . . . . . . . . . . . . .Asking $42,500

#3077 - Castle Road, Town of Fairfield - 7.7 Acres with 15 year old 1.5 story home, 3+ bedrooms, 2 baths, family room, large pole barn, garage, nice views, very private location . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$123,000 #2093 - Petrie Street, Little Falls - Large 2 family home on 40’x120’ lot, good location, all separate utilities, 3 bedrooms up and 2 down, detached 2 stall garage and fenced yard. Very nice for owner occupant . . . . . . . . . . .$61,000 United Country HBE Group, Inc. Specializing in Country Homes, Land and Recreational Property www.unitedcountry.com 6 Slawson St., Dolgeville, NY 13329 Ph: 315-429-9754 • Fax: 315-429-9363 hbegroup@twcny.rr.com • www.dolgeville-ny-real-estate.com

Mohawk Valley Real Estate LLC 4720 State Hwy. 30, Amsterdam, NY 12010 518-843-4343 29 Church St., Canajoharie, NY 13317 518-673-2066

Page 3 • REAL ESTATE GUIDE • February 23, 2013

How to improve your home's curb appeal

February 23, 2013 • REAL ESTATE GUIDER • Page 4

Simple ways to maximize profits on your investment property Real estate investors have many reasons for making such investments, but one of the more common motives behind a decision to invest in a property is the belief that real estate rarely depreciates in value. Though the recent housing crisis might have debunked that myth once and for all, real estate is still widely considered a sound investment, one that many people wish they could afford to make.

Those who have already invested in real estate know how difficult it can be to maintain a property much less improve it, which should be high on an investor's priority list. But improving a property does not have to involve a complete overhaul or any other dramatic changes. In fact, there are several simple ways investors can improve their real estate investments and improve their chances of turning a large profit when they decide to sell a property.

• Hire a property management firm. Some real estate

investors, especially those new to the business who just purchased an investment and have little money to spare, shy away from hiring a property management firm. But such a company is worth the expense for investors with little time or know-how with regard to fixing a home. A property management firm will ensure the building is kept in shape, and depending on your agreement with the company, may even take care of cleaning vacant apartments, readying them for showing and renting them to new tenants. Perhaps the biggest advantage to working with an effective property management firm is the likelihood that they will turn over the vacant apartment quickly, ensuring you aren't losing money when tenants move out.

• Carefully vet prospective tenants. One of the easiest ways a property can fall into disrepair is to allow bad tenants to move into the building. It's understandable that investors want to get a building occupied

www.judithannrealty.com judy@judithannrealty.com CELL: 518-424-5621

Judith A. Phetteplace

as quickly as possible so they can use tenants' rents to pay for the property. But bad tenants can cause damage to the property, and their behavior might encourage reliable fellow tenants to find a new living situation. When looking to fill a vacancy, establish a minimum income requirement for prospective tenants and ask applicants to produce proof of income and references from past landlords. This increases the chances you will find a respectful tenant who's fully capable of paying their rent on time.

• Work quickly. Few people want to rent forever, so expect significant turnover, especially if your investment property is a larger complex with multiple dwellings. If you aren't working with a property management company, an easy way to maximize your profits on an investment property is to work quickly when turning apartments over after a tenant moves out. This includes painting and cleaning the apartment, and the process

should go smoothly if you properly vetted tenants and the vacant unit did not suffer

Turning over a unit when a tenant moves out should take no more than a week. significant damage while the previous tenants were living there. A unit with just minor wear and tear should take one week or less to get ready to show to prospective tenants,

Mohawk Valley Inspections, LLC Your Full Service Home Inspection Headquarters

Timothy Adams Licensed Inspector NYS# 16000045787

Licensed Real Estate Broker 316 MOHAWK DR. TRIBES HILL, NY 12177

HOME: (518) 829-7813 OFFICE: (518) 829-7250 FAX: (518) 829-5119 Office: 518-212-5680 ext. 111 Fax: 518-212-5683 Cell: 518-321-4374

Buy And Sell With Confidence Office: (518) 762-5706 info@mvhomeinspections.com www.mvhomeinspections.com

Ed Pierpont

Polly Slezak

NY Lic. #16000022349 NACHI #05122792 104 Reed Street Canajoharie, NY 13317

Licensed Loan Originator E-Mail: pslezak@homesteadfunding.com www.homesteadfunding.com/pslezak

Gott U Covered

Licensed Mortgage Banker - NYS Banking Department

• HOME E INSPECTIONS S•

Company NMLSR ID# 3232 • Loan Originator NMLSR ID# 56511

4812 State Highway 30 • Amsterdam, NY 12010 Claudia Crawford Licensed Associate Broker

(518) 332-6294 Fax (518) 673-3667 epierpont@ny.nachi.org

GotUCoveredHomeInspections.com

Four Star Realty Group

Serving Montgomery, Fulton & Saratoga Counties

4720 State Highway 30 Amsterdam, NY 12010 Cell 518-866-1317 Office 518-843-4343 Fax 518-843-4321 Crawford.Claudia34@gmail.com www.MVRELLC.com

Stainless steel appliances provide an instant upgrade over older appliances that may

and the unit should be vacant for only one month before new tenants move in. Anything

longer than a month and you're losing money you don't have to lose.

• Upgrade appliances. Renters are just as likely to fall in love with curb appeal as buyers are.

While there may not be a yard to entice renters if you purchased an apartment complex, curb appeal can apply to an apartment's interior. One of the more notable eyecatchers to prospective renters is updated appliances, especially since appliances may be the only items actually in the apartment when it is shown.

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appear dated and are certain to make a strong first impression on prospective renters, many of whom would be willing to pay more in rent for a unit with update appliances. In addition, renters may feel that landlords who took the time and spent the money to upgrade appliances are likely to make a greater effort maintaining the property.

Investors can maximize their returns on investment properties in a variety of ways, many of which don't require significant effort.

Virginia M. Mackey, LLC Real Estate 226 E. Fulton St., Gloversville, NY 12078

Marguerite King “Markie” Licensed Real Estate Salesperson (518) 773-3298 • FAX (518) 725-8615 • Cell (518) 774-2717 www.vmackey.ihouse2000.com email: markie@citlink.net sewbusymarkie@yahoo.com Kathleen M. Mussi Licensed Real Estate Broker/Owner

A&M PROSPECT PROPERTIES LTD. Licensed Broker, Licensed Sales Assoc. & OWNERS

FULL SE RVICE R EAL E STAT E

308 Main Street, Middleburgh, NY 12122

217 N. Main Street • Gloversville, NY 12078

Office 518-702-4194 Fax 518-702-4059

518-495-9464 Tracy 518-209-5369 Lisa

Tel 518-773-8457 Fax 518-773-9734 Cell 631-875-8646 We Also Specialize in Property Management

Your local guide to the Adirondacks

Page 5 • REAL ESTATE GUIDE • February 23, 2013

www.ADKSrealty.com

February 23, 2013 • REAL ESTATE GUIDER • Page 6

Home features that are disappearing There is no denying the profound impact that the recession has had on the real estate industry. For the last several years, the real estate market went from booming to one characterized by homes sitting on the market for months on end. New home sales also have been conservative, and builders are cutting back on some offerings that were once commonplace.

The National Association for Realtors says that, despite floundering sales, there are fewer foreclosed homes available now than in recent years. Distressed homes -foreclosures and short sales sold at deep discounts -accounted for 25 percent of homes sales in May of 2012.

That figure is down from 28 percent in April and 31 percent in May of 2011.

While home sales have increased, money is still tight in the building industry and among home buyers. As such, instead of over-the-top features in homes that were once

becoming the norm, builders are now focusing on more value-conscious designs and offerings. The list of add-ons also has been reduced.

So what can buyers expect to live without when buying a newly constructed home? Here are a few of the common features that are falling by the wayside.

• Sunrooms: Although the "bring-theoutside-in" movement was once strong, builders are now focusing on home features that immediately add value and attract the eye of buyers.

Therefore, they're putting their resources into linen closets and laundry rooms while deemphasizing sunrooms.

• Extended ceiling heights: It can take a lot of energy to heat rooms with 15-foot ceilings. As a result, grandiose family rooms and two-story foyers are less attractive to buyers focused on saving money. Homeowners want spaces that are easier to heat and cool.

John De Georgio NYS Licensed Sales Associate

Degeorgio1@aol.com Cell: 518.813.6017

• Luxury bathrooms: Many private residence luxury bathrooms rival those found at popular 4-star hotels. But luxury bathrooms are being phased out in favor of less expensive, more practical options.

• Outdoor kitchens: Although entertaining at home is one way to keep budgets in check, some homeowners have realized they don't need a complete backyard kitchen with a pizza oven and brick fireplace in order to host guests.

According to a survey from the National Association of Home Builders, outdoor kitchens are the second least-likely feature to be included in homes built in 2012.

• Media rooms: Individuals certainly love their gadgets, but many of these gadgets have become smaller and more portable. That reduces the need for giant home theaters and gaming spaces.

While certain features are disappearing, there are others

Tall ceilings in family rooms are being eschewed in favor of smaller, more intimate spaces. that are growing more and more popular. Dual sinks in kitchens, walk-in closets, extra storage areas, and hidden charging stations for devices are likely to show up more and

more in new home designs.

The design of new homes is changing to be more budget-friendly and also represent the changing priorities of home buyers. As a

MOHAWK Towne & Country Realty Sue Leavitt, Licensed Real Estate Broker Corner Rte. 5 & McKinley Rd., Palatine Bridge, New York

518-673-5482

603 Altamont Avenue Schenectady, NY 12303 Office: 518.382.7535 Fax: 518.382.7538 John@integrity1realty.com

Office: 518-212-5680 Fax: 518-212-5683 Cell: 518-321-4374

Paul Hans Branch Manager/Licensed Loan Originator

Morningg Jogger?

5 Acress w/Pool

Run all over the hill from this Fort Plain 4 bedroom Ranch; 2 1/2 baths, gleaming hardwood floors, oversize living room, kitchen, breakfast & family combo room with fireplace; big walk in closets, lots of storage. Basement rec room, attached 2 car garage & MUCH more. $169,500

3 bedroom, T/O Danube Ranch with sunny kitchen, living & dining, 2 pellet stoves; 2 1/2 baths & finished basement with family room, bedroom, office & 1/2 bath. Pool and pond.

Breezeway to 2 stall garage, Fort Plain Schools. $179,500

E-Mail: phans@homesteadfunding.com www.homesteadfunding.com/phans

NEW LISTING

Licensed Mortgage Banker - NYS Banking Department Company NMLSR ID# 3232 • Loan Originator NMLSR ID# 54549

4812 State Highway 30 • Amsterdam, NY 12010

Res: 518-829-5163 Cell: 518-424-9752 www.judithannrealty.com E-mail: joelle@judithannrealty.com

Joelle L. Phetteplace-Bluvas Associate Broker 316 MOHAWK DR. TRIBES HILL, NY 12177

OFFICE: (518) 829-7250 FAX: (518) 829-5119

St.. Johnsvillee Bungalow Pristine 2 bedroom on the hill overlooking the school. Very nicely maintained with attic room for a 3rd BR. 2 car garage A “One Owner” home with low taxes. $69,900

Coloniall Homestead 100+/- acres, 4/5 bedrooms, 2 1/2 baths. Hobby farm, large eat-in kitchen, dining room, living room and office/5th bedroom. Jacuzzi tub. Run in stall and a large barn for hay and/or animals. $249,900

Amanda Haig, Sales Assoc.

Pete Manikas, Sales Assoc.

Joann Christman, Assoc. Broker Connie Dingman, Sales Assoc.

Nancy Dornburgh, Assoc. Broker Joan Galusha, Assoc. Broker

518-673-3235 518-673-5482 518-256-4911 518-673-2026 518-993-2335 518-332-9707

Visit Us: www.mohawk-realty.com

result, today's newly designed homes will likely look much different from homes built just a few years ago.

March 23, 2013 Issue Deadline Friday, March 15, 2013

SERVING HOMES IN THE FOLLOWING COUNTIES: c Albany c Fulton c Herkimer c Montgomery c Oneida c Otsego c Saratoga c Schenectady c Schoharie

For More Information Call John Snyder 518-673-0129 Reach Over 110,200 Homes Distributed In: The Original Family

Page 7 • REAL ESTATE GUIDE • February 23, 2013

RE A L ES TAT E GU I D E

February 23, 2013 • REAL ESTATE GUIDER • Page 8