Real Estate Guide 6.1.13

Supplement to the Original Valley 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 518-725-ADKS (2357)

MaryEllen Charles, NYS Licensed RE Broker/Owner

www.ADKSrealty.com Email:: mel@adksrealty.com 101 Washington Square, Caroga Lake, NY 12032

Spectacular Western E. Caroga Lake Views.

360 ft. Sandy Beach! Superb 4BR/3BA w/2 car garage. Inviting open floor plan. Gorgeous Master Suite. Lakefront deck & dock for your boat. Includes additional lot & 2nd garage $432,000 MLS 222382

WATERFRONT WESTERN VIEWS! 3BR/2BA ranch on peaceful Peck Lake. Full basement, 225+ ACRES w/TRAILS. Own 1/2 of pristine 2 car garage, deep private south shore lot. private no motor Newkirk Lake. Luxury living suite BR/3.5BA, 2 fireplaces $549,000 $270,000 MLS 220803

New

New

Carol Paciolla, Licensed Assoc. Broker • 332-3279 Diane Perrella, Licensed RE Salesperson • 725-8286

E. STONER LAKEFRONT YEAR ROUND HOME! 2 lots! Borders STATE land! Snowmobile trails, 5+ Acres - Beyond Compare! 4BR/2BA Cape. BROADALBIN 12 ACRES! Finish this dream sandy lakefront! Immaculate 2BR/1.5BA. Move Gourmet kitchen, deluxe everything inside & cape! Very private wooded site. Connect to in for $385,000. www.ADKSrealty.com village water/sewer. Call to view! $174,000 out! $255,000 MLS 222461

New

New

BROADALBIN - Great Sacandaga Lake Snowmobile trails. Beautiful 3BR/2BA with EPHRATAH - Very private 2BR, 2BA, 3 acres, OFF LAKE LOG CABIN! Borders state land. BROADALBIN 22+ ACRES - Custom log LOTS OF NEW!! Storage for boats, snowmo- private stocked pond, immaculate! Custom PECK LAKE YR. ROUND - Level lot, sandy Access Canada Lake - very peaceful. Move in home. 2BR/2BA, pond, very private! NO APA BLEECKER CHALET - 65 acres! Unfinished, biles. Eagle Mills Rd. $115,000 MLS 222704 throughout, on snowmobile trails. $179,000 beach, dock, furnished! Make offer $375,000 & enjoy summer! $249,900 add your style! Trails. Woods. $115,000

Reduced

Reduced

BLEECKER HUNTING LAND! Superb 44+ acres! Deer, Deer, Deer! Off the grid hunting cabin in place deer stands, trails, all ready to go! $135,000

New

28 ACRES, JOHNSTOWN - Borders airport and golf course, 3BR, 1BA, attached garage, 2nd garage for car enthusiasts. Immaculate! $179,000

New

1.7 ACRES! Caroga Lake Colonial 4BR/1.5BA, fireplaces inside & out. 1/2 mile to YOUR OWN E. Caroga Lakefront Lot for boat dock! $159,900 MLS 222609

BORDERS STATE FOREST

$168,000 - SNOWMOBILE TRAILS! 4BR/1.5BA, 158 Pinnacle Rd - $195,000 - 46 acres, 3- tucked in off the road. With DEEDED shared lakeRte. 10 & Chapel Rd. - $45,000 - 2BR/1BA, 4BR colonial, new kitchen & bath, heated front Lot on peaceful W. Stoner Lake. MLS corner lot. Deck to relax & enjoy lake breezes. garage. Trails.

201219669

New

New

Immaculate Ranch - Johnstown Schools & City Water! 1 acre lot. 3BR/2BA, full basement, sunroom, attached garage w/add’l shed. Country setting minutes to town! 1020 ST HWY 10, Caroga - 2BR/1BA. All 117 Balsam - $135,000 - 3BR/2BA, walk to Lakeview Assoc. Beach. 2 garages. Lots of New. $168,000 MLS 222913 redone, even central air.

BORDERS STATE FOREST

$175,000 - NEAR LAPLAND LAKE XC & NORTHVILLE PLACID TRAIL - Very private! 2 LOTS. WATERFRONT CAMP Sleeps 12 on Low taxes, deluxe off the grid 2BR/1BA year Mt. Lake is motor friendly! Docks, furnishings stay! Make Offer! $133,000 MLS 201215491 round home. MLS 215503

$128,500 CAROGA LAKE! Year round.

Meticulous remodeling from the copper plumbing, new kitchen w/maple cabinets & new floors. MLS 222945

$189,000, QUIET & PRIVATE 150 FT LAKE- $159,000 - LAKE PLEASANT, STRATFORD FRONT E STONER 2BR/1BA Chalet. Fireplace, 95Ft. waterfront, western views. 2BR/1BA 128 KNOWLTON RD, FONDA - $90,000 - $39,900 - 107 S. PERRY ST. - Less than a car! 523 W. MARKET ST., JOHNSTOWN - $89,900 OWN THE POINT - $315,000 - Grand camp - 3BR/2BA, 1 car garage on E. Caroga, 4BR/1BA. 300+/- ft. waterfront.

3BR/1.5BA, plenty of room, quiet street. new kitchen & bath. Dock stays! MLS 220803 rustic cabin.

3BR/1BA, wood floors, reinsulated!

Come Play from these Caroga Lake Off Lake & Direct Waterfront Properties!

116 First Ave., E. Caroga . . . . . . . . . . . . . . . . . . .$52,900 2525 St. Hwy. 10 E. Caroga Deed lakefront . . . . .$159,900 127 Balsam Ave., W. Caroga . . . . . . . . . . . . . . . .$78,000 208 N. Shore W. Stoner - Deeded Lakefront . . . . .$168,000 131 Lakeview Ave., W. Caroga . . . . . . . . . . . . . .$84,900 224 S. Shore W. Caroga Waterfront . . . . . . . . . . .$157,000 112 S. Shore W. Caroga . . . . . . . . . . . . . . . . . . .$119,000 149 E. Shore W. Caroga Waterfront . . . . . . . . . . .$200,000 118 Outlet Road E. Caroga . . . . . . . . . . . . . . . . .$128,000 229 E. Shore W. Caroga Waterfront . . . . . . . . . . .$179,900 118-120 Scott Rd., E. Caroga . . . . . . . . . . . . . . .$110,000 LAND! Vacant Acreage & Lots AVAILABLE

NEW LISTINGS: www.ADKSRealty.com

118-120 SCOTT RD - $110,000 - 2 for 1! Yes 2 houses! 1 block to E. Caroga Assoc.

Beach! 3 lots, bring all your friends to the lake this summer!

Page 1 • REAL ESTATE GUIDE • June 1, 2013

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

June 1, 2013 • REAL ESTATE GUIDE • Page 2

Glossary of mortgage terms Adjustable-rate loans, also known as variable-rate loans, usually offer a lower initial interest rate than fixed-rate loans. The interest rate fluctuates over the life of the loan based on market conditions, but the loan agreement generally sets maximum and minimum rates. When interest rates rise, generally so do your loan payments; and when interest rates fall, your monthly payments may be lowered.

Annual percentage rate (APR) is the cost of credit expressed as a yearly rate. The APR includes the interest rate, points, broker fees, and certain other credit charges that the borrower is required to pay.

Conventional loans are mortgage loans other than those insured or guaranteed by a government agency such as the FHA (Federal Housing Administration), the VA (Veterans Administration), or the Rural Development Services (formerly known as Farmers Home Administration, or FmHA).

Escrow is the holding of money or documents by a neutral third party prior to closing. It can also be an account held by the lender (or servicer) into which a homeowner pays money for taxes and insurance.

Fixed-rate loans generally have repayment terms of 15, 20, or 30 years. Both the interest rate and the monthly payments (for principal and interest) stay the same during the life of the loan.

The interest rate is the cost of borrowing money expressed as a percentage rate. Interest rates can change because of market conditions.

Loan origination fees are fees charged by the lender for processing the loan and are often

expressed as a percentage of the loan amount.

Lock-in refers to a written agreement guaranteeing a home buyer a specific interest rate on a home loan provided that the loan is closed within a certain period of time, such as 60 or 90 days.

Often the agreement also specifies the number of points to be paid at closing.

A mortgage is a document signed by a borrower when a home loan is made that gives the lender a right to take possession of the property if the borrower fails to pay off on the loan.

Overages are the difference between the lowest available price and any higher price that the home buyer agrees to pay for the loan. Loan officers and brokers are often allowed to keep some or all of this difference as extra compensation.

Points are fees paid to the lender for the loan. One point equals 1 percent of the loan amount.

Points are usually paid in cash at closing. In some cases, the money needed to pay points can be borrowed, but doing so will increase the loan amount and the total costs.

Private mortgage insurance (PMI) protects the lender against a loss if a borrower defaults on the loan. It is usually required for loans in which the down payment is less than 20 percent of the sales price or, in a refinancing, when the amount financed is greater than 80 percent of the appraised value.

Thrift institution is a general term for savings banks and savings and loan associations.

Transaction, settlement, or closing costs may include application fees; title examination, abstract of title, title insurance, and property survey fees; fees for preparing deeds, mortgages, and settlement documents; attorneys’ fees; recording fees; and notary, appraisal, and credit report fees. Under the Real Estate Settlement Procedures Act, the borrower receives a good faith estimate of closing costs at the time of application or within three days of application. The good faith estimate lists each expected cost either as an amount or a range.

Source: Looking for the Best Mortgage, www.hud.gov

A&M PROSPECT PROPERTIES LTD. 217 N. Main Street • Gloversville, NY 12078

Kathleen M. Mussi

Tel 518-773-8457 • Fax 518-773-9734

Licensed Real Estate Broker/Owner

www.amprospectproperties.com ed

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Gloversville - 16 West 10th Ave. Quaint 2 family home situated on quiet street that borders walking trails. Close to shopping & schools. Great owner occupied dwelling or extra income. Low taxes!

$69,000

Large single family home . . . well maintained, 4 bdrms, 2 baths, renovated in 2002, fenced yard. $59,900 MLSS 222693

2 Family, 2 Bedrooms each unit.

0 MLSS 222306 Motivated Seller. $54,900

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Johnstown 2 family. 4 bedrooms over 2 bedrooms, large yard. Fully rented. Motivated seller. Priced to sell. $69,900 MLSS 220878

RENTALS Gloversville - 3 bdrm Upper, Renovated 2011 - $650

Large 4 bedroom house situated in the beautiful Adirondack Mountains, overlooking a mountain lake. Remodeled in 1994.

Beautiful views year round! Must see!

266 YEARS OF EXPERIENCE IN PROPERTY MANAGEMENT .

2 family, has 3 bdrms each apt... tenants will enjoy large driveway, large rooms updated kitchen. $59,900 MLSS 222838

Wee aree heree forr youu whenn youu can’tt be..

Two family w/two car garage - fully rented.

1st floor large kitchen, 3 bdrms, lge deck in 0 MLSS 222494 back, 2nd floor 2 bdrms. $68,500

(518)

www.vmackey.ihouse2000.com vmackeyrealestate@albany.twcbc.com

Eugene D. Reppenhagen 725-3348 Markie King 774-2717 Karen R. Bischoffberger 727-6484

226 E Fulton St., Gloversville, NY 12078

Fulton County NY Properties Located in the Foothills of the Adirondack Mountains

MLS 2013156

ORIGINAL COLONIAL (Gloversville): 5.4 acres with a view, just outside of town. 4 bedrooms, 2.5 baths, sunporch, deck, 2 car garage, barn and more. Must see! . . . . . . . . . . . . . . . . .$289,000

MLS 2013127

WANT A SWIMMING POOL? (Gloversville): Well-maintained home on quiet street.

Beautifully landscaped, fenced backyard, pool and patio. 3 or 4 bedrooms, 1.5 baths $109,000

MLS 222772

COUNTRY RANCH (Hagaman): Large lot just outside of town. 2 bedrooms, 1 full bath, full basement, 1 car garage. Very economical to heat! New drilled well . . . . . . . . . . . . . .$85,000

MLS 222774

MOVE-IN CONDITION (Gloversville): Large fenced backyard, vinyl siding, replacement windows, freshly painted interior. 3 bedrooms, 1.5 baths, newer kitchen . . . . . . . . . . . .$71,000

MLS 2013155

COMFORTABLE FAMILY HOME (Gloversville): Many updates. 3 bedrooms, 1.5 baths. Small fenced backyard, 1 car garage. Close to downtown and elementary school . . . . . . . . .$29,900

MLS 222508

HISTORIC ORIGINAL COLONIAL (Gloversville): Just outside of town on 3.9 acres. 4 bedrooms, 2 full baths, new kitchen overlooking yard. Deck, large barn . . . . . . . . . . . . . . . . . . . . . .$250,000

MLS 2013371

GREAT COTTAGE ON 10 ACRES (Stratford): Near Stewart Landing dam for water access to lakes. 2 or 3 bedrooms, 1 full bath. Full basement, new windows, 2 car garage . . .$100,000

MLS 2013080

ONE-FLOOR LIVING (Gloversville): 2 bedrooms, 1 full bath, family room w/woodstove.

Another bedroom, 3/4 bath and den in basement. Patio, fenced yard . . . . . . . . . . . .$80,000

MLS 2013337

BEAUTIFUL RANCH (Gloversville): Great room w/center fireplace, large windows overlooking deck and pool. 3 bedrooms, 2 full baths.

End of road, near woods . . . . . . . . . .$190,000

MLS 2013222

COUNTRY LIVING IN THE CITY (Gloversville): 4 bedrooms, 1.5 baths, lots of living area. Deep lot with apple trees, berries, flowers. Deck, 2 car garage, workshop . . . . . . . . . . . . . . . . .$98,000

MLS 222115

MLS 2013347

RENOVATED TWO-FAMILY (Gloversville): Many extras, updates. 2 bedrooms, 2 full baths down; 2 bedrooms, 1 full bath up. Circular drive, 4 car garage w/workshop . . . . . . . . . .$145,000

MLS 2013131

LARGE HOME ON THE EDGE OF TOWN (Johnstown): 4 bedrooms, 2 full baths, enclosed sunporch, lots of storage space, many options. 2 garages, .45 acre lot . . . . . .$95,000

MLS 222567

NICE FAMILY HOME (Gloversville): Well-maintained home in a quiet neighborhood. 3 bedrooms, 1 full bath, newer appliances in kitchen, family room. 2 car garage . . . . . . . . . . .$79,500

FAMILY HOME w/LARGE YARD (Gloversville): 2 story Colonial w/natural woodwork, hardwood floors, 3 bedrooms, 1.5 baths, enclosed porches. Walk to schools . . . . . . . . . . . . . . . .$79,500

DOUBLEWIDE IN PARK (Gloversville): Very well-maintained 2006 Redman. 3 bedrooms, 2 full baths, Mayfield School District. Open front porch, large canopy-covered rear deck $56,000

INVESTMENT PROPERTY (Gloversville): Older home on narrow lot w/shared drive. Large rooms, 3 bedrooms, 1.5 baths. Currently rented for $800/month plus utilities . . . . . . . . . . . . .$39,900

MLS 220684

REASONABLY PRICED FAMILY HOME (Gloversville): 4 bedrooms, 1 full bath, den w/gas stove. Enclosed front and rear porches, 1 car garage plus storage . . . . . . . . . . . .$59,900

MLS 2013175

UNIQUE BEAUTY (Gloversville): Avenue home on lovely double lot. 4 bedrooms, 2.5 baths, new kitchen. Hardwood floors, natural woodwork. 2 car garage . . . . . . . . . . . . . . . . . . . . . .$145,000

MLS 2013064

MLS 2013339

VERY LARGE TWO-FAMILY (Gloversville): Down has gas fireplace in living room, 2 bedrooms, 2 full baths, office. Up has 5 bedrooms, 1 full bath. 3 car garage . . . . . . . . . . . . .$108,000

MORE GLOVERSVILLE MULTI-FAMILY DWELLINGS 2-family, close to schools, “as is” . . . . . . . . . . .$49,900 2-family, separate utilities . . . . . . . . . . . . . . . .$65,000 Large 2-family, 9 bedrooms, 2.5 baths . . . . . .$69,900 2-family w/many updates . . . . . . . . . . . . . . . . .$69,000 2-family “short sale” . . . . . . . . . . . . . . . . . . . . .$69,000 3-bedroom, 2.5 bath Colonial w/separate 2-family in rear (MLS 220357) . . . . . . . . . . . . . . . . . . . . .$90,000 COMMERCIAL PROPERTIES OFFICE RENTALS (Downtown Gloversville): 2 firstfloor offices w/lots of parking, heat and air conditioning included . . . . . . . . . . . . . . . . . . . . . . . .Call for details BEAUTIFUL PARLOR w/1-BEDROOM APT (Gloversville): Completely renovated building w/many unique features.

1 car garage plus off-street parking (MLS 222039) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$110,000

MLS 215805

GREAT FAMILY HOME (Gloversville): Move-in condition, near elementary school. 4 bedrooms, 1.5 baths. Extra large lot with detached 2 car garage . . . . . . . . . . . . . . . . . . . . . . . . .$110,000

MLS 222083

GRAND OLD COLONIAL (Gloversville): 4 bedrooms, 1.5 baths, hardwood floors and natural woodwork, 2 corner fireplaces. Detached 2 car garage . . . . . . . . . . . . . . . . . . . . . . . . . .$89,900

MLS 2013012

STARTER HOME (Gloversville): Cute 2 bedroom bungalow w/1 full bath. Large rear deck overlooking deep yard, detached 1 car garage.

Very economical to heat! . . . . . . . . . . .$76,000

MLS 2013217

HANDYMAN SPECIAL (Broadalbin): Solid home in need of renovation, currently 3 bedrooms, 1.5 baths. Being sold “as is”. Convenient to downtown and schools . . . . . . . . . . .$38,500 LAND Gloversville: City building lot . . . . . . . .$5,000 2 adjacent city lots . . . .$19,900 1.5 acre building lot . . . .$25,000 Town of Mayfield: 2.14 acres . . . . . .$15,000 2.7 acres . . . . . . .$29,000 3.7 acres . . . . . . .$35,000 LAKEFRONT COTTAGES Sacandaga Lake (MLS 220668) . . . .$235,000 East Caroga Lake (MLS 222835) . . .$215,000 Stoner Lake (MLS 215985) . . . . . . . .$175,000

Page 3 • REAL ESTATE GUIDE • June 1, 2013

773-3298 FAX: (518) 725-8615

Virginia M. Mackey • Certified GRI - CRS Residential Licensed Real Estate Broker Appraiser 725-3348 • 40 Years Experience • Fulton County & Capital District MLS

June 1, 2013 • REAL ESTATE GUIDE • Page 4

www.krutz-properties.com

RESIDENTIAL - COMMERCIAL FARMS - INVESTMENTS - ACREAGE

512: DOLGEVILLE: Two-story, 4 bedroom home with above ground pool in back yard. Front porch. Exterior is vinyl siding.

Updated windows. Living room, den/bedroom, kitchen, formal dining room, laundry, bath and bedroom on 1st floor. 2nd floor 3 bedrooms and full bath. Pellet stove in dining room included.

Full basement, paved driveway . . . . . . . . . . . . . .Asking $65,000

515: COUNTRY HOME ON A DEAD-END ROAD: 2-story, 4 -5 bedroom home on 6 acres. Lots of remodeling & up-dates. New 551: FORT PLAIN: Double-wide home with an open kitchen, kit, FDR, FLR, den/bath & full bath all on the 1st floor. Heated dining area and living room. 24x12 detached garage. Nice country workshop, 2 stall garage & porch. 2 pellet stoves & appliances location. 2.5 acres with 362 feet of road frontage . . . . . . . . . . . . . included in sale. Johnstown Scl . . . . . . . . . . . . .Asking $119,900 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Asking $79,900

156: CANAJOHARIE: NEW LISTING 103 year old farmhouse located on 40 acres. There is an old barn, a small outbuilding and an old Hop House that stores mowers and small equipment. Would make a nice horse farm. Great view from top of hill . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Asking $139,900

978: ORISKANY: COLEMAN MILLS RD Oneida County is the location of this 162 acre parcel. 4 Bedroom home, large kitchen and living room. 2 garages. Outbuilding. Pole Barn with 16 x 24 heated shop. Christmas trees, woods and open fields make up the 162 acres. Part of property is along Sutliff Road and is zoned commercial . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$675,000

994: T/O STARK: charming 1850's home located in the hamlet of Starkville. Wood floors & original woodwork bring this home to life. Spacious DR & LR. 4 bedrooms. Porches, 4 stall garage & patio . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Asking $89,900

131: A spectacular Tudor w/ scenic views on 198 rolling acres of woods. Certified organic tillable land & pond. Fine craftsmanship of the marbled fireplace, stained glass transom beamed ceilings, Cherry paneled foyer, den, beautiful staircase & French doors leading into the LR & library areas. Plus 3 bdrm guest house . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Asking $695,000

134: CHERRY VALLEY: Lovely 2-story, 3 bdrm, 2 1/2 bath home. Eat-in kit, formal dining room, living room & garage.

Beautiful hardwood floors throughout home. Located minutes from Cooperstown . . . . . . . . . . . . . . . . . . . . . . .Asking $189,900

201: ST. JOHNSVILLE: Constructed in the 1950's but years ahead of its time. Limestone wall fireplace in the LR & DR. Basement has a family room w/ fireplace, 4 bdrms & 2 baths.

Garage under house. Plus possible building lots . . . . . .$129,500

208: DOLGEVILLE: Very nice location and walking distance to Main Street. Exquisite private backyard with a flowing stream.

Many updates to the home include new carpet, tile floor in bathroom, new windows, electrical entrance and central air . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Asking $84,900

502A: SPRAKERS: A country home with a great floor plan.

Kitchen with island, dining area and living room. Large family room with fireplace. Laundry room and 1/2 bath on 1st floor. 2nd floor 3 bedrooms and 2 full baths including master bath . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Asking $119,000

597: Colonial home w/ private setting and view of the Cherry Valley Mountains. Circular drive leads to this custom built home.

4-5 bedrooms, 3 1/2 baths, sunken FR w/ granite fireplace, gorgeous sunroom overlooking mature landscaping & in-ground pool. T/O Palatine 5 acres . . . . . . . . . . . . . . . . . . . . . . .$219,000

Page 5 • REAL ESTATE GUIDE • June 1, 2013

59 W. Main St., Canajoharie

June 1, 2013 • REAL ESTATE GUIDE • Page 6

RE A L ES TAT E GU I D E June 29, 2013 Issue Deadline Wednesday, June 19, 2013

SERVING HOMES IN THE FOLLOWING COUNTIES:

c Albany c Fulton c Herkimer c Montgomery c Oneida c Otsego c Rensselaer c Saratoga c Schenectady c Schoharie

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

Real estate appraisers estimate a home’s value in a specific housing market, usually on the basis of sales of nearby or comparable homes. Often, a seller’s price is established by an appraisal. Lenders require an appraisal before they can determine the amount of money they will loan you.

Do not be surprised if appraisals (seller’s and buyer’s) are different. While both may be based on comparable sales, market conditions do change, sometimes from day to day. If the appraised value is lower than the agreed-upon purchase price, a contingency clause gives you the right to renegotiate the sale price or even to withdraw your offer.

A professional real estate appraisal is necessary to determine if the asking price is a fair one. An appraisal is an educated opinion of the current market value of a specific house within the past 60 days and determined by a set of factors. Making an intelligent offer to buy is difficult until you know the market value of the house. It is also difficult to know how large a mortgage loan will be granted by a lender because loans are based on a percentage of the appraised value and not on the asking price. You may choose to insert a contingency clause into your “offer to purchase contract” that the house must meet the appraised value or you have the right to withdraw your offer.

A qualified appraiser should have nothing to gain or lose from a sale and works only for one party to the sale. Findings should be provided in writing and include: 1. An accurate description of the property.

2. A purpose statement for the appraisal.

3. All of the data and criteria used to determine value, including at least three comparable sales and costapproach figures.

4. A final estimated value.

You can have your own appraisal done. Look for an appraiser who is familiar with the community and is an independent appraiser with the initials MAI, MAI/RM, or ASA after his or her name. MAI stands for “Member, Appraisal Institute,” the American Institute of Real Estate Appraisers. RM added means “Residential Member” with at least five years of experience in residential, rather than commercial, real estate. ASA denotes membership in the American Society of Appraisers.

5. Any special conditions, such as an easement.

6. Appraiser’s certification and signature.

The appraisal is usually paid for by the buyer and will be included in your closing costs. The cost of a complete appraisal of a three-bedroom, two-bath house could range between $250 to 275 for a conventional loan and $175 to 300 for a government-backed or financed loan.

If your loan will be financed by either the Department of Housing and Urban Renewal (HUD) or the Veteran’s Administration (VA), the appraiser will be selected by computer. Appraisals for one of these types of loans will be good for either type of financing.

Source: North Carolina Cooperative Extension Service, Selecting Home Buying Professionals

Mohawk Valley Real Estate LLC 4720 State Highway 30, Amsterdam, NY 12010

518-843-4343 www.MVRELLC.com

1088 LAKEVIEW AVE., SCHENECTADY Move-in condition. Great 3 bedroom home in quiet neighborhood. Living rm w/wood fireplace, formal DR, HW flooring, kitchen with all new appliances and walk-in pantry, back yard has a large deck and garage . . . . . . . . . . . . . . . . . . . . . . Asking $105,000.

168 RIVER RD., FT. PLAIN - COZY HOME ON 6+ ACRES! features updated home with beautiful finishes and finished basement for family room and game room. This is a must see home. The 6 acres are wooded with large yard and nice pond. Deer come right into the back yard . . . . . . . Only $149,900.

130 PERTH FITNESS RD., BROADALBIN Great country home, very spacious, bright and inviting.

Features 4 Bedrooms plus finished basement and great school Dist . . . . . . . . .Reduced to $198,000.

2288 ST HWY 162, ESPERANCE - ENERGY EFFICIENT HOME! 3 Bedroom, 2 bath Doublewide on 2.3 acres. Located in the Schoharie School Dist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$89,900

295 EAST MAIN ST., AMSTERDAM Business Opportunity - Successful operating Florist on busy street in the City of Amsterdam . . Real Estate Only $129,000.

68 EAST STATE ST., GLOVERSVILLE Features 5 bedrooms, 1.5 baths eat in kitchen, LR, DR, 2 car garage on large city lot. Close to Nathan Littauer Hospital. Close to shopping and Churches . . . . . . $78,500

308 FOREST AVE., AMSTERDAM - Let the rent pay the mortgage on this nice 2 family home. Spacious home with 3 bedrooms and 2 baths . . . . . . . . . . . . . Only $68,000

620 ST HWY 334, FONDA - SHORT SALE Located on the Cayadutta Creek with total of 5 acres. Spacious 4 bedroom and 2 bath home with many updates completed and others partially completed. . ONLY $59,000

NEW LISTING SHORT SALE - Pickle Hill Rd Ft. Plain - Lovely 4 BR Colonial home with 4+ acres and Huge Newer detached garage.

Updated kitchen, 2 full baths and formal dinning room . . . . Short Sale Price $114,900.

NEW LISTING! Lusso Rd., Glen - Spacious 5 bedroom home features many updates including master suite, energy eff. windows, kitchen w/ granite counter tops and more. Room for horses on 7 acres plus 5 outbuildings . . . . . . . . . . . . . . . . $379,900.

100% FINANCING FOR QUALIFIED BUYER! Lower Lepper Rd. Ft. Johnson This home is in a great location, very private. Updates include newer roof, new replacement windows and more. Could have 4th bedroom if needed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Only $100,000.

East Main St., Fonda - Wonderfully updated 3 BR home features HW floors, eat in kitchen, spacious BR's and 2 car detached garage. Located close to the schools and easy access to Amsterdam, Johnstown and the NYS Thruway . . . . . . . . Only $59,900.

Page 7 • REAL ESTATE GUIDE • June 1, 2013

Real estate appraiser

June 1, 2013 • REAL ESTATE GUIDE • Page 8

LANA RUGGIERO, GRI, ASP 11 Forest St., Gloversville (518) 470-4738 www.ruggierorealtyllc.com • mruggier@nycap.rr.com 2132 Donnan Rd., Galway

307 W. Madison Ave., Johnstown

1131 Co Hwy 122, Town of Johnstown

108 Woodlawn Dr. Town of Johnstown

Stunning! 4BR, 3.5 bath custom built home on 11 acres and just minutes to Saratoga & Albany. Nearly 4000 sq. ft. of living space, newly refreshed kitchen plus attached & detached garages, shed, outdoor fireplace, pond... such a beautiful setting! . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $429,900

Completely rebuilt in the early ‘90’s, this is a wonderful family home on an acre, with city amenities. Meticulously maintained with brand new authentic hardwood floors throughout! And there isn’t a man around who won’t love the 3 car attached garage PLUS the detached 24x36 garage that was built in 2005. . . . . . . . . . . . . . . . $199,900

Looking out over Phelps St. is this darling expanded Cape. You won’t believe the spaciousness until you see it. Newer kitchen with adjoining family room, so cozy and inviting. Huge living room, formal dining room, beds & baths on both floors. Hot tub house and detached garage all on 4 acres. . . . . . . . . . . . . . . . . . . . . . . . . $224,900

Fabulous house in a wonderful location. Under 10 yrs young, modern design, efficient floor plan.

Master suite plus 2 more bedrooms. Family room, game table area and office in lower level. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$269,000

7 Lark St., Gloversville

462 N. Main St., Gloversville

206 Cape Horn Rd., Johnstown

119 Bertrand Rd., Mayfield

New on the market, Craftsman style home in Gloversville’s East End. New kitchen, adjoining family rm., 2.5 new baths & laundry, master suite, large living rm w/stone fireplace, formal dining rm, two sunporches. ALL NEW SYSTEMS! . . . . . $119,900

Enjoy the delightful in ground pool ALL summer, as this real nice 3BR, 1.5 bath is move in ready & easy to maintain. Many conveniences - mudroom, 1st floor laundry, walk in closet, large living space & modern kitchen............................................$78,500

Wonderful log home on 18.8 acres in the Adirondacks. 3BR, 2 baths, open living area, wood stove, attached garage, deck, porch, full basement.

Many recent updates. Close to skiing, trails, lakes .. ....................................................................$174,900

Lovely year round ranch with 30 ft. permit on the Great Sacandaga, just across the private road.

Pristine condition inside and out. Views from the deck, lots of storage, well manicured yard. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$289,900

273 Smith Rd., Broadalbin

1007 Co Hwy 122, Town of Johnstown

418 N. Main St., Gloversville

13 W. Twelfth Ave., Gloversville

Real cute 3BR/2 bath ranch on 1.5 acres in Broadalbin-Perth School District. Very spacious kitchen with bar, large living room, cathedral ceiling, pellet stove. Private setting off of Smith Rd with just 4 houses... this is a rare find at . . . . . . $124,900!

5BR country estate on 45 acres. Large office has separate entrance. Sunny family room right off pool area, large eat in kitchen. Barns, milk house, silo, trails, ponds. Great location... owner ready to negotiate . . . . . . . . . . . . . . . . . . . . . . . . . . $395,000

Cream Puff! Just a cute little cottage in the city with 3BRs, 1.5 baths. Great authentic detailing with some modern upgrades to baths & kitchen. Very little yard maintenance, garage and decent basement. Priced below assessment at . . . . . . . . . . . . . . . $74,900

Cozy bungalow on pleasant dead end street, close to shopping, hospital, school. New full bath, doors, roof, furnace...FHA compliant...no work needed.

Tandem garage, fenced in bi-level yard, lots of storage space. . . . . . . . . . . . . . . . . . . . . . . $76,500

74 Second Ave., Gloversville

54 S. Judson St., Gloversville

9 Beech St., Gloversville

73 First Ave., Gloversville

Large cape on a nice corner lot. Lots of recent upgrades. 3BRs, 1.5 baths, finished room in lower level, fenced yard, garage. Fireplace and pellet stove. . . . . . . . . . . . . . . . . . . . . . . . . . . $85,900

New, new, new...kitchen, appliances, bathroom, plumbing, electrical service, roof, H/W heater, vinyl siding and some windows. It’s what the first time home buyer is looking for... low price, low taxes and little yard maintenance! . . . . . . . . . .$57,900

Adirondack coziness in the heart of the city!

Spacious 2BR and private yard. Brand new siding, windows and roof. Knotty pine interior with efficient pellet stove. . . . . . . . . . . . . . . . . .$44,900

Hard to find 3 unit money maker centrally located in the city. 1st & 2nd floor apartments have long term tenants, basement unit is refreshed and ready for new tenant. 2 car garage with storage, plenty of off street parking plus yard. . . . . . . . . . .$69,900

51 Prospect Ave., Gloversville

322 Forest Ave., Amsterdam

4 Fruit St., Gloversville

• Land • Town of Johnstown - 1 acre building lot $24,900 Town of Johnstown - 2.10 acre Cul De Sac Lot $38,000

Great looking, easy to maintain, centrally located 2 family. Perfect for first time home buyers who need a little help with making the mortgage payments. No repairs needed... move right in! . . . . . . . .$59,900

Unique two family, newly refreshed, great money maker. Large first floor apartment. Smaller, efficient second floor apartment. Neighborhood has undergone a revitalization... take a look now!. .$65,000

Money making 2 family close to high school and middle school. Newer furnace, flooring, porches, hot water heaters. Priced right, good monthly rental income. Come see. . . . . . . . . . . . . . . . .$39,900

Gloversville - 2.20 acre Commercial Lot $15,000

Page 9 • REAL ESTATE GUIDE • June 1, 2013

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

June 1, 2013 • REAL ESTATE GUIDE • Page 10

Steps to buying a home Buying your home is an exciting experience and it may be the largest financial investment you will ever make.

Taking the time to learn about the steps involved in the buying process will help ensure that you purchase a quality home at a price you can afford. There are seven basic steps to buying a home: Step 1.

Prepare for home ownership • Begin by seeking homebuyer education. You can contact The U.S. Department of Housing and Urban Development (HUD) to find an approved provider of homebuyer education in your area. Visit the HUD website or call 800-569-4287.

• Monitor your credit record.

Get a free copy of your credit report and if necessary, take steps to improve your credit score. Your credit score is a key factor in determining the rate of interest that you will pay for your mortgage loan.

Generally, a higher credit score will qualify you for a lower interest rate.

• Figure out what you can afford. It will save you time, energy, and money if you have a realistic picture of what you need and how much you can afford before you start shopping for a home.

• Choose the type of home that fits your lifestyle, in a location that has the amenities and community services that you want.

• Know your rights. You have the right to equal housing opportunities; disclosure of settlement costs; and protection from predatory lending practices. Your home mortgage will probably be the one of the largest loan contracts you ever sign. Take the time to know your rights before you start shopping for a home and a loan.

Step 2.

Shop for a loan • Comparison shop. Gather all the information you need to complete the mortgage loan application. Then compare the different types of mortgages that each lender offers and the

tradeoffs associated with each option. You may want to create a comparison chart to record and compare the terms of different loans and lenders.

• You can avoid paying for private mortgage insurance if you have a down payment that equals at least 20 percent of the purchase price.

• Learn about home buying programs in your state that can lower your costs and mortgage payment.

• Get pre-qualified for a loan.

When you are ready to make an offer, you will be in a better position to have your offer accepted if you are prequalified or preapproved for a loan.

Step 3.

Shop for a home • Know your housing priorities, including the type of structure, size, location, and community services that are important to you.

• Decide whether you want to use the services of a realtor.

Realtors are familiar with the housing market and can assist

132 Reid St., Fort Plain - $125,000 Great starter home. 2BR Ranch, heated pool, eat-in kitchen, large open living/dining room, full basement, full walk-up attic, attached garage, satellite dish, wood floors, central air, public water & sewer.

25 minutes to Cooperstown, 30 minutes from Amsterdam, Utica. Nice area close to shopping.

Julie Sonner Licensed Real Estate Salesperson

Cell: 518.605.0883 Office: 518.370.3170 ext. 406 • Fax: 518.370.5797 Email: JSonner@RealtyUSA.com 480 Balltown Road, Schenectady, NY 12304

you in finding the house that meets your needs. The seller generally pays the realtor’s commission to help sell the property, which means that the realtor will try to get the best sales price and terms for the seller. To get the best outcome for yourself, you may want to hire your own realtor to represent your interests as the buyer.

• Know housing market trends before you start looking for a home. In a buyer’s market, there are a lot of homes for sale, with relatively few buyers, so sellers have to offer potential buyers additional incentives. In a seller’s market, there are a lot of buyers and relatively few homes, so sellers are likely to drive a hard bargain, and the home you want may be sold before you have a chance to make the offer.

Step 4.

Make an offer • Make an offer that is realistic. Offers are usually conditional on the home inspection (see step 5), appraisal, having a clear title, and final approval of the loan.

• Provide an earnest money deposit. The earnest money deposit lets the seller know that you are serious about wanting to purchase the home.

In most cases, if you retract your offer, the seller keeps the deposit.

• Get pre-approved for a loan to give yourself a stronger negotiating position.

• Negotiate the deal. When you make an offer, the interested seller usually will negotiate back and forth with you until you reach a joint agreement.

Every point in the contract is negotiable, but it is usually best to know common practices and accepted standards in the negotiation of the contract before you start the process.

Step 5.

Get a home inspection • A home inspection report provides an in-depth and impartial evaluation of any problems with the property.

Your realtor and lender will have suggestions regarding who to use. The charge for the inspection will be added to your closing costs unless the seller has agreed to pay for the report.

• When you make a written offer on a home, you need to insist that the contract state that the offer is contingent on a home inspection conducted by a qualified inspector.

• If you are satisfied with the results of the inspection, then your offer can proceed, but be sure to negotiate and include, in writing, any financial adjustments, repairs or replacements that the seller agrees to make as a result of issues identified in the inspection report.

Step 6.

Get homeowners insurance • Learn what is covered by homeowner’s insurance and what type of policy to purchase.

• Shop for a policy. Remember to consider flood and earthquake insurance if appropriate.

• Know how to read the policy and file a claim.

Step 7.

Close the deal • The final step in the home buying process is called the “closing” or “settlement.” The closing usually takes place using the services of a settlement agent who oversees the transfer of the property from the seller to the buyer.

• Prior to closing, you need to secure the services of a title company. The title company provides you with title insurance and often serves as the settlement agent. Title insurance protects you and the lender from claims by others against your new home.

• The settlement agent will set

up escrow to manage the transfer of the property. All documents, deeds, titles, funds and conditions of the sale are collected in escrow and monitored by the settlement agent. When all of the conditions specified in escrow agreement have been met, you and the seller will be instructed to make an appointment to sign the paperwork that will finalize the closing.

• Before you go to the closing, understand the Real Estate Settlement Procedures Act (RESPA) and the protections that it offers you. Lenders are required to give you paperwork that outlines the costs you will incur in receiving the loan.

These documents include the charges you will likely pay at closing and an estimate of your monthly mortgage payments, a Settlement Statement that details all closing costs, and a Truth-in-Lending Statement that outlines all of the specifics of the loan.

• Prepare ahead for closing day. At closing, you will sign numerous papers that make the sale final. Make sure that you have a good idea of what the settlement costs should be so that you can check the paperwork for errors before you sign. You will be required to bring picture ID and a cashier’s check to cover the closing costs.

• The transaction is recorded with the county within a day or two of closing. After the recording, you will be given the keys to your new home!

Source: www.extension.org

authority. All home buying professionals should be able to give you a clear idea of what they will do for you and how they will proceed. Some will put it in writing before you hire them. When a service cannot be summed up, ask to see samples of their work.

Buying a house can be confusing. Few people have the knowledge and experience needed to find, evaluate, and then buy a house without the help of various home buying professionals such as: real estate agents or brokers, home inspectors, appraisers, surveyors, attorneys, and mortgage lenders.

Always compare services and prices. Before using a business or individual, check the reputation of the firm or individual. Talk with people in your community who have used such a service recently and to local loan officers who may be able to make recommendations. Ask these important questions when

There is a big difference between professionals who can help you buy a house and those who can build or fix up a house.

People who would not hesitate to question the qualifications or methods of a carpenter, plumber, mason, or landscaper are often reluctant to question the expertise or skill of other home buying professionals whose work is done on paper and not on the house.

searching for help: Exactly what will be included in your services?

What will it cost?

Who pays the bill?

When will the work begin and how long will it take?

What kind of guarantee will you provide?

Source: www.ces.ncsu.edu

Home buyers, especially first-time buyers, often hesitate to ask questions. But remember, the only dumb question is the one that has not been asked. If a home buying professional cannot or will not give you a simple answer or appears offended by your questions, look for someone else to help you. If a home buying professional is put off by simple questions, imagine what will happen when you get to complicated ones! Beware of the tendency to be in awe of certain professionals, such as lawyers.

Builders or contractors deal with physical products. When a carpenter builds a deck, you can examine the joists; when a roofer installs the roof, you can check the flashing. But most home buying professionals produce paperwork and opinions.

There are no physical tests of quality. Without a questioning attitude, important decisions about your house purchase may rest on little more then the appearance of expertise and

SHARON SPRINGS, NY Looking for a newer home with privacy? This one has it all. Wrap around porch, views, privacy. 3rd floor has master suite w/bath, 2BR, LR, DNA, Kit on 2nd floor, finished den/family room in basement, incl. 1 car garage. 5+ acres of rolling meadows. . . . . . . . . . . . . . . . . . . . . .$169,000

SHARON SPRINGS, NY Completely renovated 2BR, 1BA home short distance from town. All new appliances, new bath, floors, electric, carpet, windows, garage door, and more. 2+ acres w/barn . . .$155,000

Hawkeye Realty, LLC 50 West Grand Street Palatine Bridge NY 13428 SHARON SPRINGS, NY Seclusion at its finest. Views to enjoy 24/7. Spacious rooms, large window for the Christmas Tree, nice pond, 3BR, 2BA, LR, FDR, eat-in kitchen. A must see for . . . . . . . . . . . . . . . .$149,900

(518)) 673-81355 • www.hawkeyerealtyllc.com

Nicole e Huball - Licensed d Salesperson nmh@hawkeyerealtyllc.com

SHARON SPRINGS, NY If your horses & a view are important, look no further. This place has it all. Plenty of windows, 2 LR’s, Dining Area, galley kitchen w/appliances.

Includes 30+ acres of pasture and woods, horse barn and fenced pasture.

A must see. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$225,000

SHARON SPRINGS, NY COUNTRY LIVING AT ITS BEST! Move in ready, this center hall Large three story home comes with 3BR, 2BA, LR, DR w/sliding door to deck, Eat-in kitchen, Den, several large walk-in closets w/lights. Family/game room and one car garage. Many other features including 2.6+ acres. . . . . . . . . . . . . . . $117,000

home has an up to date eat-in kitchen, DA, LR, computer room, 1 bath/laundry on first floor. Beautiful serene setting with waterfalls in stream. Large 2 story, 2 car garage/workshop, 9 Acres . . . . . . . . . . . . . . . . . . . . . . . . . . . All for $139,900

Mary Ann Larkin, Broker 7078 State Route 10 Sharon Springs, NY 518-284-3200 0 • faxx 518-284-2682 13459 www.larkinrealty.com • malarkin@nycap.rr.com

99 Peter Peter Lane, Lane, Amsterdam Amsterdam NY NY

$$

121,000 121,000

A cozy two bedroom home located in a residential area of Amsterdam. This ranch style home offers two bedrooms, one full bath, kitchen, breakfast area, dining room, living room, and a full finished basement. The basement consisting of three separate spaces, laundry, shop area, and a dining room.

Don’t forget the outdoor space, there is an enclosed porch overlooking the back yard and above ground pool.

Page 11 • REAL ESTATE GUIDE • June 1, 2013

Selecting home buying professionals

June 1, 2013 • REAL ESTATE GUIDE • Page 12

Real estate professionals (Real Estate Broker, Realtor, Real Estate Agent) An efficient method of shopping for a house is to consult a real estate professional. How do you select one and what services can you expect? Try to find an experienced real estate professional who works primarily in the area in which you are interested and who has access to a computerized multiple-listing service (MLS).

MLS is an automated system that generates a list of houses that match your requirements.

There are some differences in what a broker, Realtor, or real estate agent can do for you.

and has a valid license to sell real estate.

A Realtor is a licensed real estate broker or an associate holding active membership in a local real estate board affiliated with the National Association of Realtors.

Membership in the Realtor organization is available only to real estate professionals who agree to subscribe to a strict Code of Ethics that goes beyond the requirements of license law.

A real estate agent, associate, or salesperson can show property for sale on behalf of a seller, but may or

A broker can show property for sale on behalf of a seller,

Claudia Crawford Licensed Associate Broker 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

Kathleen M. Mussi Licensed Real Estate Broker/Owner

A&M PROSPECT PROPERTIES LTD. FULL SE RVICE R EAL E STAT E

217 N. Main Street • Gloversville, NY 12078

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

Ed Pierpont

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

Gott U Covered • HOME E INSPECTIONS S•

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

GotUCoveredHomeInspections.com

may not have a license to transact the sale and collect the sales commission. Real estate agents, associates, or salespersons must operate under the supervision of a licensed broker, and they receive a portion of the commission paid to the selling broker.

A real estate professional brings together sellers and buyers. Always remember just who the real estate professional is working for.

Real estate professionals have a financial, legal, and moral responsibility to the seller — not the buyer. In return for representing the seller, they receive a commission from the seller when the house is sold.

Most commissions are a flat percentage of the home’s sale price, usually 6 to 7 percent.

Because of the way the commission system works, real estate professionals want to sell homes quickly and at the highest possible prices.

Buyer’s broker or agent The concept of using a buyer’s broker or agent is relatively new. There are pros and cons to this approach. The most obvious advantage is that the buyer’s broker or agent is legally obligated to negotiate the best possible price and terms for the buyer — not the seller. A buyer’s broker can help you locate potential houses to consider and determine the condition of the houses, such as water damage. They are particularly helpful in negotiating the sales contract and writing a purchase offer that favors your position. Finally, they may be able to give advice that the traditional real estate professional could not because his or her loyalty is to the seller.

The main disadvantage to using a buyer’s broker or agent is that you will have to pay a fee or commission. This may be a flat fee, a percentage of the purchase price, an hourly fee, or a combination of the three. While the buyer is primarily responsible for paying the buyer’s broker or agent, often, with consent of the seller, the fee is paid by the

seller’s agent. You will be asked to sign an agreement that spells out exactly what you want the buyer’s broker or agent to do for you. In turn, you will be obligated to work with the buyer’s broker/agent for a specific time.

Dual agency At times a real estate professional may become the representative of both a seller and a buyer — creating a dual agency situation. Dual agency situations often come about when one real estate firm has a relationship with two clients, one wanting to sell and the other wanting to buy. When this happens, the real estate professional is obligated to notify each client and to modify his or her actions to ensure that duties and obligations owed to each client do not come into conflict. Primarily this involves the real estate professional’s obligation to keep confidential the motives for buying or selling and other information obtained through the agency relationship with each client. This may limit the range of duties the real estate professional may perform for either party. Buyers or sellers should carefully consider the possible consequences of the “dual agency” relationship before agreeing to such representation.

What a real estate professional can do for you A real estate professional can provide you with a broad range of services including the following: • Pre-qualify you so you know what you can afford.

• Use your “wish list” to generate a computer printout of houses that meet your specifications.

• Show you houses that meet your requirements. (Let the agent drive.)

• Provide you with information about a community, including the prices and characteristics of houses in the area, the location of schools, property tax rates, unusual building code regulations, and availability of community

services.

offer.

• Provide you with basic data about each property including zoning, lot and house size, age, systems, equipment, and utilities.

4. Do not sign anything without first reading the document carefully. For a major purchase, you should try to have the contract reviewed by your real estate attorney before signing.

• Present your offer to the seller.

• Coordinate closing details.

• Advise you regarding mortgage lenders, real estate attorneys, professional home inspectors, and title companies.

When working with a real estate professional: 1. Never let another real estate professional show you a house that you have previously been shown.

2. If you are seriously interested in buying a house, don’t worry about wasting a real estate professional’s time by looking at too many houses.

It’s in your best interest to look at as many houses as possible.

A real estate person should not push you to make up your mind or make an offer on a house before you are ready.

3. Assume that anything you say to the listing agent or broker will be told to the sellers. The listing agent or broker represents the sellers and is legally obligated to represent their interest. You can put yourself at a disadvantage in negotiating a price if you have been too enthusiastic about a house on which you decide to make an

5. If you feel you are being steered to (or away from) particular neighborhoods, if the agent or broker continues to come up with excuses as to why a house is not available for viewing, or if he or she is hard to reach or doesn’t answer your calls about a certain house, you may want to check into the possibility that discrimination is involved.

As you look for a house to buy, you will probably do a lot of driving around in neighborhoods you like or checking listings in your local paper. You may come across “for sale by owner” properties.

Feel free to explore these houses on your own, even if you are already working with a real estate professional. The main advantage of a “for sale by owner” property is that the real estate agent’s commission will not be added onto the sales price, making these houses somewhat less expensive. However, take extra precautions to have the house inspected before you buy, and have an attorney advise you on drawing up the sales contract.

Source: North Carolina Cooperative Extension Service, Selecting Home Buying Professionals

308 Main Street Middleburgh, NY 12122

Page 13 • REAL ESTATE GUIDE • June 1, 2013

Four Star Realty Group Tracy Boomhower Lisa Tenneson

Licensed Broker, Licensed Sales Assoc. & OWNERS

518-495-9464 Tracy • 518-209-5369 Lisa Office 518-702-4194 • Fax 518-702-4059

RT. 20 in Esperance

A Short Commute To Work!

Included in this sale is 6,000 sq. ft. commercial manufacturing building on Rt. 81 in Greenville. Beautiful 4BR / 3 bath home, detached 3 car garage, 30 acres, pond, pool and views!

A STEAL at $599,900

Com/Res building, retail space is 2,000 sq. ft. plus more available. Currently rented as a quilt shop. Upstairs living quarters are MAGNIFICENT, elegant and spacious, 2400 sq. ft., 3BR / 2 bath, top of the line, too much to list and a grand landscaped yard.

This is one to be seen, schedule your appointment today $249,900 Bring your business or keep renting the downstairs space to cover your mortgage.

Middleburgh 6 years old, 3BR, full finished basement, inground heated pool

98,500

$

105,000

105,000

$

$

Preston Hollow 4BR Cape, nice yard, 1 car garage, pool

$

Troy 2 Family, near RPI in Troy!

INVESTMENT

299,900

59,999

Middleburgh Center hall colonial, walk to schools and shops. 3BR, 1 1/2 bath

199,900

Broome Log home, 22 acres, huge heated garage, VIEWS

$

198,500

$

DON’T WAIT priced to move fast at $365,000

E. Greenbush 2BR cottage style home, close to Albany

$

Broome 3BR, 2 full bath, finished basement, heated 30x40 garage, 5 acres

SACRIFICE SALE Due to health reasons, owner is giving this away. Grand “lodge” style home, 3,700 sq. ft., you put finishing touches on, guest house, barn, horse paddock, garage, whole house generator, 57 glorious acres and an 8 acre pond!!

Middleburgh 2 Family in village, walk to amenities, 2BR and 3BR apts.

79,900

$

THE TIME TO BUY IS NOW!

Middleburgh Quaint 3BR village home, NEW kitchen, garage, nice yard

99,900

$

Visit us at www.fourstarrealtygroup.com for these and more

June 1, 2013 • REAL ESTATE GUIDE • Page 14

Looking for the best mortgage Shopping around for a home loan or mortgage will help you to get the best financing deal. A mortgage — whether it’s a home purchase, a refinancing, or a home equity loan — is a product, just like a car, so the price and terms may be negotiable. You’ll want to compare all the costs involved in obtaining a mortgage.

Shopping, comparing, and negotiating may save you thousands of dollars.

Obtain information from several lenders Home loans are available from several types of lenders — thrift institutions, commercial banks, mortgage companies, and credit unions. Different lenders may quote you different prices, so you should contact several lenders to make sure you’re getting the best price. You can also get a home loan through a mortgage broker. Brokers arrange transactions rather than lending money directly; in other words, they find a lender for you. A broker’s access to several lenders can mean a wider selection of loan products and terms from which you can choose. Brokers will generally contact several lenders regarding your application, but they are not obligated to find the best deal for you unless they have contracted with you to act as your agent. Consequently, you should consider contacting more than one broker, just as you should with banks or thrift institutions.

Whether you are dealing with a lender or a broker may not always be clear. Some financial institutions operate as both lenders and brokers. And most brokers’ advertisements do not use the word “broker.” Therefore, be sure to ask whether a broker is involved. This information is important because brokers are usually paid a fee for their services that may be separate from and in addition to the lender’s origination or other fees. A broker’s compensation may be in the form of “points” paid at closing or as an add-on to your interest rate, or both. You

should ask each broker you work with how he or she will be compensated so that you can compare the different fees. Be prepared to negotiate with the brokers as well as the lenders.

Obtain all important cost information Be sure to get information about mortgages from several lenders or brokers. Know how much of a downpayment you can afford, and find out all the costs involved in the loan.

Knowing just the amount of the monthly payment or the interest rate is not enough. Ask for information about the same loan amount, loan term, and type of loan so that you can compare the information. The following information is important to get from each lender and broker: Rates • Ask each lender and broker for a list of its current mortgage interest rates and whether the rates being quoted are the lowest for that day or week.

• Ask whether the rate is fixed or adjustable. Keep in mind that when interest rates for adjustable-rate loans go up, generally so does the monthly payment.

• If the rate quoted is for an adjustable-rate loan, ask how your rate and loan payment will vary, including whether your loan payment will be reduced when rates go down.

Points Points are fees paid to the lender or broker for the loan and are often linked to the interest rate; usually the more points you pay, the lower the rate.

• Check your local newspaper for information about rates and points currently being offered.

• Ask for points to be quoted to you as a dollar amount — rather than just as the number of points — so that you will actually know how much you will have to pay.

Fees A home loan often involves many fees, such as loan origination or underwriting fees, broker fees, and transaction, settlement, and closing costs. Every lender or broker should be able to give you an estimate of its fees. Many of these fees are negotiable.

Some fees are paid when you apply for a loan (such as application and appraisal fees), and others are paid at closing. In some cases, you can borrow the money needed to pay these fees, but doing so will increase your loan amount and total costs. “No cost” loans are sometimes available, but they usually involve higher rates.

• Ask what each fee includes. Several items may be lumped into one fee.

• Ask for an explanation of any fee you do not understand.

• Ask about the loan’s annual percentage rate (APR). The APR takes into account not only the interest rate but also points, broker fees, and certain other credit charges that you may be required to pay, expressed as a yearly rate.

Down payments and private mortgage insurance Some lenders require 20 percent of the home’s purchase price

Looking 15

Junell Gray ~ Licensed Real Estate Salesperson “ Because Your” Keller Williams Realty Capital District Move Matters 935 New Loudon Road, Latham, NY 12110 CELL/TEXT (518) 588-5141 • Office (518) 724-5864 www.JunellGray.com • www.UpstateNYRuralHomes.com I am lifetime resident of Montgomery County and serve clients in Montgomery, Fulton, Saratoga, Schenectady, Albany & Schoharie Counties. I have 15 years experience in real estate. If you are looking to buy a home or sell a home please contact me to discuss your wants and needs. I would love the opportunity to assist you. I am also a member of the Greater Capital District MLS & Fulton County Board MLS.

JUST LISTED IN FONDA!

LISTED AT $119,500, FT. HUNTER, NY

SELLER IS TAKING OFFERS!

New Modern Kitchen, Bath & Master Bedroom.

Come see this updated, elegant 4 BR 1 ⁄ BA home today.

Fonda-Fultonville School District. New Kitchen, stainless steel appliances, granite counter tops, ceramic tile floor, crown molding throughout, new furnace and so much more. Close to NYS thruway, Route 5 & 5S for an easy commute.

FONDA-FULTONVILLE SCHOOL DISTRICT This house is in move-in condition and priced to sell.

Attractive, well maintained, cozy 3 bedroom, 1.5 bath home, located on a quiet side street, landscaped yard, deck, above-ground pool, paved driveway and more. You could be celebrating July 4th with your family and friends here, call Today!

PRICED AT $45,000.00 254 Kingsboro Avenue, Gloversville, NY Sellers have moved and need to sell this NOW! This is a 3 bedroom, 1 bath home home located across from a Veterans Park in Gloversville. Low taxes, freshly painted inside, original hard wood floors & just needs a buyer to make it a home now.

NEW TO THE MARKET!

NEW TO THE MARKET!

HORSE LOVER'S AND/OR HUNTER'S PARADISE!

$37,000.00 in Town of Ephratah Nice quiet country setting, 1 acre lot with a Champion mobile home in good condition & a 24 x 24 garage.

Garage includes a built in vehicle lift, furnace & cement floor. Home includes furnishing if desired, washer, refrigerator & stainless steel stove. Option to buy the adjoining 1 acre lot. WE HAVE FINANCING FOR QUALIFIED BUYERS.

1 ACRE LOT, Town of Ephratah $20,000.00 Looking for a place to build a home or to just call your own? Enjoy this private 1 acre lot with an existing 24 x 48 outbuilding with electric, driveway & septic system.

Close to Johnstown, St. Johnsville or Fonda. Owner will consider holding a private note and mortgage for a sale.

Call (518) 588-5141.

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Town of Charleston, NY Sale Pending House is only 11 years old, beautiful country setting, view, 59 acres and 2 large barns located off a quiet road with an easy commute to the Capital District. FondaFultonville School District.

SELLER SAYS TO MAKE AN OFFER TODAY!

181 Lakeside Drive, Mayfield, NY Private Dock on Sacandaga Lake Enjoy this well maintained, charming 1,536 sq. ft. Lake Front Home immediately with a spacious 34 x 24 garage, shed, screened porch, large lot, private dock and mooring ball.

Don't wait until summer is over, call today and enjoy your summer here!

as a down payment. However, many lenders now offer loans that require less than 20 percent down — sometimes as little as 5 percent on conventional loans. If a 20 percent down payment is not made, lenders usually require the home buyer to purchase private mortgage insurance (PMI) to protect the lender in case the home buyer fails to pay. When government-assisted programs such as FHA (Federal Housing Administration), VA (Veterans Administration), or Rural Development Services are available, the down payment requirements may be substantially smaller.

• Ask about the lender’s requirements for a down payment, including what you need to do to verify that funds for your down payment are available.

• Ask your lender about special programs it may offer.

If PMI is required for your loan,

difference between the lowest available price for a loan product and any higher price that the borrower agrees to pay is an overage.

Credit problems? Still shop, compare, and negotiate When overages occur, they are built into the prices quoted to consumers. They can occur in both fixed and variable-rate loans and can be in the form of points, fees, or the interest rate.

Whether quoted to you by a loan officer or a broker, the price of any loan may contain overages.

Have the lender or broker write down all the costs associated with the loan. Then ask if the lender or broker will waive or reduce one or more of its fees or agree to a lower rate or fewer points. You’ll want to make sure that the lender or broker is not agreeing to lower one fee while raising another or to lower the rate while raising points. There’s no harm in asking lenders or brokers if they can give better terms than the original ones they quoted or than those you have found elsewhere.

• Ask what the total cost of the insurance will be.

• Ask how much your monthly payment will be when including the PMI premium.

• Ask how long you will be required to carry PMI. Obtain the best deal that you can Once you know what each lender has to offer, negotiate for the best deal that you can. On any given day, lenders and brokers may offer different prices for the same loan terms to different consumers, even if those consumers have the same loan qualifications. The most likely reason for this difference in price is that loan officers and brokers are often allowed to keep some or all of this difference as extra compensation. Generally, the

characteristics nor be charged more for a loan or offered less favorable terms based on such characteristics.

Once you are satisfied with the terms you have negotiated, you may want to obtain a written lock-in from the lender or broker.

The lock-in should include the rate that you have agreed upon, the period the lock-in lasts, and the number of points to be paid.

A fee may be charged for locking in the loan rate. This fee may be refundable at closing. Lock-ins can protect you from rate increases while your loan is being processed; if rates fall, however, you could end up with a less favorable rate. Should that happen, try to negotiate a compromise with the lender or broker.

Don’t assume that minor credit problems or difficulties stemming from unique circumstances, such as illness or temporary loss of income, will limit your loan choices to only high-cost lenders.

If your credit report contains negative information that is accurate, but there are good reasons for trusting you to repay a loan, be sure to explain your situation to the lender or broker. If your credit problems cannot be explained, you will probably have to pay more than borrowers who have good credit histories. But don’t assume that the only way to get credit is to pay a high price. Ask how your past credit history affects the price of your loan and what you would need to do to get a better price. Take the time to shop around and negotiate the best deal that you can.

Whether you have credit problems or not, it’s a good idea to review your credit report for accuracy and completeness before you apply for a loan. To order a copy of your credit report, contact: Equifax: 800-685-1111 TransUnion: 800-916-8800 Experian: 800-682-7654 Source: www.hud.gov

Remember: Shop, Compare, Negotiate When buying a home, remember to shop around, to compare costs and terms, and to negotiate for the best deal. Your local newspaper and the Internet are good places to start shopping for a loan. You can usually find information both on interest rates and on points for several lenders.

Since rates and points can change daily, you’ll want to check your newspaper often when shopping for a home loan. But the newspaper does not list the fees, so be sure to ask the lenders about them.

Fair lending is required by law The Equal Credit Opportunity Act prohibits lenders from discriminating against credit applicants in any aspect of a credit transaction on the basis of race, color, religion, national origin, sex, marital status, age, whether all or part of the applicant’s income comes from a public assistance program, or whether the applicant has in good faith exercised a right under the Consumer Credit Protection Act. The Fair Housing Act prohibits discrimination in residential real estate transactions on the basis of race, color, religion, sex, handicap, familial status, or national origin.

Under these laws, a consumer cannot be refused a loan based on these

MOHAWK Towne & Country Realty SUZANNE LEAVITT Licensed Real Estate Broker 5696 St. Hwy. 5, Palatine Bridge, NY 13428

518-673-5482

Fax 518-673-5816 Cell 518-332-5887

website: www.mohawk-valley.com

Page 15 • REAL ESTATE GUIDE • June 1, 2013

Looking for the best mortgage continued from 14

June 1, 2013 • REAL ESTATE GUIDE • Page 16

316 Mohawk Drive, Tribes Hill, New York

Exceptional Townhouse Living! * NEW LISTING In this beautiful 3BR, 3 bath townhouse overlooking the 4th hole at Rolling Hills Country Club. No expense has been spared in updating the 2,800 square feet of living area. Inside it has a newer kitchen with granite countertops and glazed maple cabinets, formal dining room, large living with a gas fireplace, master bedroom with bathroom, finished basement family room and exercise room, walk out basement, and to many upgrades too list! Offered at $239,000

9.50 Acres Town of Glen * NEW LISTING If you have been looking for a country location that is close to work and shopping this is it! 9.50 acres of tranquility with a great view looking north and west just off NY 5S. Land has 205.20 feet of road frontage and it is open fields with some woods, Fonda Fultonville Central schools and owner invites offers on . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $52,500

Town of Glen Ranch * NEW LISTING Country living in this 3 bedroom, 2 bath ranch on a 6.10 acre parcel. Home has an oak kitchen with dining area, three spacious bedrooms, a large living room, attached 2 car garage, 16’x30’ pole barn, and it is in the Fonda Fultonville School district. It will sell quickly so call us for a showing! . . .Only $99,000

Fonda Two Family * NEW LISTING Well maintained 2/2 bedroom spacious flat that will make great owner occupied property on investment property. It has large flats with eat-in kitchens, living rooms, full bathrooms, spacious bedrooms, separate heat & lights, off street parking and offers wanted on . . . . . . . . . . . . . . . . . . .$49,900

Thank god for bargains! * NEW LISTING You can’t beat the price of only $55,000 for this sweet 2 bedroom, 1 bath cape on a quiet side street in Amsterdam. It has an adorable interior with a living room with fireplace, dining room, galley style kitchen, large sun room, detached 1 car garage and it won’t last long.

829-7250 See all our listings at: judithannrealty.com Broadalbin Perth School Region * NEW LISTING With this turn key ready cape on a 1.10 acre lot in the country. It has a white on white kitchen, one bath, dining room, living room, family room addition with knotty pine walls and fireplace, open back porch, low taxes and a price of only $89,000!

It won’t last long!!

Hold Your Horses! * NEW LISTING

Absolutely Fabulous * NEW LISTING Need we say more about this near new 3+ bedroom, 2 bath contemporary ranch situated on an executive cul-desac. Of course there is a custom oak kitchen with dining area, an elegant formal dining area with pillars, 26’x35’ great room with amazing built ins and overlooks the professionally landscaped rock gardens and coy pond in the back yard. What makes it special is the feeling of elegance tempered with simplicity. Offered to those who appreciate the very best at . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$345,000

Palleen Manor, Fultonville * NEW LISTING

16.60 acres of clear farmland Almost new 3 bedroom, 1.5 bath with 405’ of road frontage in raised ranch on an 80’x100’ lot. Home the Town of Glen. Land is just is turn key ready with an open concept off NY 5S near the shrine and it kitchen, living room and dining room. comes with a HUGE steel Finished basement family room, secMorton style building with a ond floor laundry, attached two car concrete floor. Parcel is in the single family home just outside the Fonda Fultonville Central school district and there are public power lines along village that sits on a 185’x130’ lot that must be sold to settle estate. It has a the road. Great site for your new home and perfect spot for a hobby farm! . formal living room and dining room, enclosed front and back porches, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Offered at $67,500 detached 1 car garage, and it is priced at only . . . . . . . . . . . . . . . .$55,000!

West Caroga Lake Camp * NEW LISTING Watch the sunset on Sheeley mountain and view the lake from this 4 bedroom, 1 bath with 46’ of lake frontage on West Caroga. Inside it has a very large living room with fireplace, dining room, large kitchen, 1 car garage, and owners want offers on . . . . . . . .$225,000

Shuttleworth Park Region Cottage * NEW LISTING Great condition 2 bedroom, 1 bath cottage on a 40’x100’ lot on a quiet side street. It has a great floor plan with an oversized living room and dining room, carriage house kitchen, 2 enclosed porches, detached garage with screened porch area, central air, and owner wants offers on . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$65,000

Hickory Hill Region Cape * NEW LISTING No home improvements needed with this 4 bedroom, 2 bath cape on a 75’x175’ lot in a great setting! Inside it has a spacious living room, dining room, kitchen and an open family room overlooking the back yard. 4 spacious bedrooms with 2 on the first floor, 2 up, there’s a 1 car garage, and it won’t last long because owner wants it sold ASAP and wants offers on . . . .$139,000

Town of Florida Cape * NEW LISTING Surrounded by 1000’s of acres of picturesque farmland you will find this sweet 3 bedroom cape with a new bath, new kitchen, cozy living room.

Town of Glen Cottage

Tudor Style Two Family * NEW LISTING

Amazing setting surrounded by 1000’s of acres of fields and a panoramic view from every direction! Inside it has stained glass windows, wainscoted cupboards, hardwood floors, 3 bedrooms, 1 bath, living room and dining room with built in’s, and owner wants offers on . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$75,000

One of a kind two family on a huge corner lot in a great neighborhood. It has 3 bedrooms in the first floor flat, and two bedrooms upstairs. First floor has a large living room with a fireplace, huge eat in kitchen, updated bathroom, hardwood floors. It comes with a detached 2 car garage, separate heat and lights, and you can let the tenant pay the mortgage!

Offered at . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$115,000

Town of Canajoharie

Hold Your Horses!

Gillen Road, Town of Charleston

2,042 square foot farmhouse just on the edge of the village. It was built in 1870 and has 3+ bedrooms, 1.5 baths, and sits on 3.00 acres. It has been lovingly maintained over the years. It has a carriage house kitchen, pine front foyer, dining room, with a pellet stove, large living room, with a full wall window, ceramic bath, and new windows and doors.

Offers wanted on . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$225,000

In great condition 3 stall horse barn adjacent to this great condition 3 bedroom, 1.5 bath colonial in the Town of Root. Inside it has a living room with woodstove, sharp updated kitchen with dining area, mudroom, 3 spacious bedrooms, attached garage, turn out area for horses, and you can’t beat the setting! Fonda Fultonville Central school district and offers wanted on . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$149,000

This historic 1850’s Greek Revival is one of the oldest houses in the Town of Charleston. It sits on 2.66 acres on a dead end road & has seen many recent updates including all new windows, freshly painted exterior, updated electric, furnace and pellet stove. It has 5 bedrooms, 1.5 baths, double living room, formal DR & eat in kitchen. Also wide board floors, authentic woodwork, front and back stairs, insulation and great porches. This one is well on it’s way to restoration. It just needs your good taste to bring it back to its former glory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$150,000

102 Knowlton Avenue, Fonda 2 story home sits on a really nice 185' x 130' lot as per deed. Home features 2 bedrooms, 1 full bathroom, kitchen, formal dining room and large living room. Beautiful wide plank wood floors, den, enclosed front and back porches, large yard and a 1 car garage. . . . . . . . . . . . . . . . . . . . . . . .$55,000