LifeandHomes Capital Region NY July 2023

A Teeter Totter Kind Of Year

Long summer days and lazy summer evenings. Seems I treasure them more each year. Our LifeandHomes office, tucked away in a semi-rural location, offers me the gift of working with the windows open, soaking in the sounds of summer - birds chattering, horses and buggies clip-clopping up and down the road, grandkids singing on the swings, farm equipment humming in the distance.

The peaceful atmosphere of my office is a welcome retreat from the up-is-down and down-is-up kind of news that comes across the desk each day. The real estate industry, like almost every other, continues to teeter and I have to be honest - it's gut wrenching to hear the stories of potential buyers/sellers and agents impacted by the current housing market challenges.

The question remains, will the remainder of 2023 be a seller's market or a buyer's market? "The impact of higher mortgage rates and recession fears has contributed to the market's cooling from its peak earlier this year. Nevertheless, there are other factors that may influence the market's favorability for both buyers and sellers," reports Norada Real Estate Invesments. "The market is gradually shifting away from being heavily skewed towards sellers, moving towards more balanced conditions. Buyers are still showing interest, maintaining some level of competition, particularly for attractively priced homes."

So far, the housing market remains as challenging to predict as the weather in upstate NY. What we do know is that, in any market, it’s important to work with an experienced real estate agent who can help to guide you through the process of buying or selling a home. Agents like those you'll find inside this issue of LifeandHomes can be the ideal partner to support you on your real estate journey.

This information has been compiled from public records and other sources we believe to be reliable, but we make no guarantee with respect to its accuracy or completeness or the absence of restrictions on use and are not responsible for any liability, loss, or risk that subscribers may inquire, directly or indirectly, from using the contents of this site.

Copyright © 2023 Lisi Merchant Solutions, Inc

Dry Soil & Foundation Damage

What You Need To Know

Most homeowners understand what drought conditions

water 1 to 2 feet away from the foundation edge. A soaker-type hose permits applying water to the soil without getting it on the house wall. Apply the water slowly with rest periods of several hours to permit the water to gradually soak into the soil to a depth of several feet."

Economist Sheharyar Bokhari. “They can use cash to pay for the home and avoid high monthly interest payments, or take out a loan and pay a high mortgage rate. In that case, they could use the money that would have gone toward an all-cash purchase to invest in other assets that offer bigger returns, which could partly cancel out their high mortgage rate.”

can do

to their yards and gardens, however, not enough know that drought can cause a cracked foundation and other issues.

Too much moisture, or too little, can cause major issues for your foundation. Drought damage can occur when the soil around the foundation becomes too dry, making it more compact which will leave space around the blocks. A gap along the wall, through time, may allow airflow that will dry the soil under the foundation. The foundation's support is removed as the soil shrinks, which may stress the concrete enough to cause a crack to form. The gap between the soil and basement wall also allows water from rain to run down the wall and may result in basement water intrusion.

There are certain signs to look for that indicate that your foundation might be failing. These signs include cracks in the wall, plaster, or siding, windows and doors that stick, a slope in your home, or separating brickwork. You may also notice cracks in your drywall or gaps in your trim. If you are unsure, then contact a professional right away to assess the situation.

Drought damage occurs when the soil is too dry and starts to compact. To minimize this problem, maintain a relatively constant moisture content in the soil around the house. Water the soil evenly around the entire foundation during extended dry periods if the soil is pulling away from the basement wall. "Do not apply water directly into the gap because this may cause water intrusion into the basement," says Ken Hellevang, agricultural engineer. "Instead, apply

A cracked foundation isn’t something that should be a DIY project. Call the experts for help if you think that your foundation has been damaged. A professional can accurately diagnose a foundation issue and come up with the best and safest strategy for repairing it properly. (PR Arredondogroup & unl.edu)

All-Cash Home Purchases Reach Highest Level In Nearly A Decade

One-third of U.S. home purchases were made in cash in Apri of 2023, the highest share in nine years, according to a Redfin real estate brokerage.

All-cash purchases are making up a bigger portion of the homebuying pie for one major reason: Elevated mortgage rates are deterring homebuyers who take out mortgages more than they’re deterring all-cash buyers. Overall home sales were down 41% from a year earlier in April in the metros included in Redfin’s analysis, which comprised 40 of the most populous U.S. metros. Mortgage rates are near their highest level in 15 years, sidelining many would-be homebuyers—especially those who need to take out a mortgage. But high rates can also deter all-cash buyers because they may decide their money is better spent on investments that benefit from high rates, like bonds.

“A homebuyer who can afford to pay in all cash is weighing two potential paths,” said Redfin Sr

“Buyers who can’t afford to pay in all cash also have two potential—but different—paths,” Bokhari continued. “They can avoid a high mortgage rate by dropping out of the housing market altogether, or they can take on a high rate. That discrepancy is the reason the all-cash share is near a decade high even though allcash purchases have dropped: Affluent buyers have the choice to pay cash instead of dropping out of the market.”

Competition among homebuyers is a smaller but still noteworthy reason for the uptick in allcash sales. A lack of homes for sale is prompting competition in some metro areas, motivating buyers to make all-cash offers to win homes.

(BUSINESS WIRE)

Number Crunching

2023 Real Estate Stats

• San Francisco, California, has the highest median selling price for U.S. real estate, at $1.36 million. (zippia.com) You'll need some serious pocket change if you plan to buy a home in good old San Fran. Not only do they have the highest median selling price, they also have the highest average 5% down payment, at $68,000.

• Manhattan, New York, has the most expensive cost per square foot in the U.S., at $1,400 per square foot. (zippia.com) According to Zippia, Manhattan’s buyer’s market is starting to impact prices. For example, while the median listing price in 2020 was $1.6 million, the median selling price was only $950,000.

• West Virginia has the highest homeownership rate as of 2023 (techjury.net) Despite the high ownership rate in West Virginia, the value of the homes is relatively low because a significant portion of them are mobile homes.

5 Tips To Keep Your Home & Packages Secure While You're On Vacation

Ready to take that long-awaited summer vacay? Before heading out for fun in the sun, make sure you'll be able to fully relax and enjoy your break by taking a few steps to help keep your home secure - including deliveries that might be made while you're gone.

Here are some tips and tools to help increase your peace of mind while you're away from home.

1. Alert your neighbors - but not social media

Before your trip, chat with trusted neighbors to let them know you'll be on vacation. Those extra eyes on your home can help you feel better about taking off. Just don't post about your trip on social media - there's no need to let the world know you'll be out of your house.

2. Help make your deliveries safe

Instead of worrying about a package arriving while you're gone, use Amazon Key In-Garage Delivery, a convenient, secure way to receive Amazon packages and groceries. With InGarage Delivery, drivers scan your package to receive one-time access to deliver inside the garage. No need to give out garage codes or let the driver in yourself. Porch pirates don't stand a chance and it also helps protect from weather damage, so you can keep any packages secure until you're home.

Amazon Key is free for Prime members and easy to set up. Plus, it gives you more flexibility and control over your Amazon deliveries by allowing you to select a preferred delivery method and choosing when and where you want your packages delivered - inside your garage or to your doorstep. At checkout, just

select In-Garage Delivery and Amazon Key will take care of the rest. You'll receive realtime notifications every step of the way, and by adding a Ring Camera (sold separately), you can even watch your packages be safely delivered in real-time.

3. Monitor your home while you're away

You can set up Motion Alerts to notify you when there's activity at your front door with a Ring Video Doorbell or near one of your Ring security cameras. You'll be able to see what's happening in real-time and choose to use Two-Way Talk as needed to chat with someone on your property. For additional whole home protection, the Ring Alarm Security Kit works on any house, condo or apartment. You'll have peace of mind that your home is always protected, so you can just relax and enjoy whatever you're doing, wherever you are.

"With services like Amazon Key-In Garage Delivery and the Package Detection feature on Ring Video Doorbells, you can worry less about deliveries going missing while you're away," said Paul-David Shrader, Head of Amazon Key for Consumer. "Many customers say just the sight of a video doorbell or camera is enough of a deterrent in getting trespassers to leave their properties."

4. Set timers for lighting

Another important tactic while vacationing is to use lighting to make it appear someone is home. You can connect smart lights to your home security cameras to have lights turn on/ off, or set up light schedules with Alexa to turn lights on and off at certain times each night. Even if you just set one lamp near a front window, it will look like someone is home.

5. Pre-set your HVAC

Completely turning your HVAC off to save money can be a bad idea. Not only will it look like nobody's home if your AC unit isn't running while it's sweltering, but you could also damage internal structures of the house due to excessive humidity. On top of that, your AC unit will have to work non-stop to get the temperature back down when you return, eliminating cost savings you hoped for by shutting it off completely. A good rule of thumb is to raise the temperature about 5 degrees from your usual setting when you leave town. To be able to adjust the temperature while you're away, consider installing a smart thermostat that you can control remotely.

Following these few simple steps, you can ensure your home and packages will be safe and secure, whether you're on the road or on the beach. (BPT)

Buy Local • Eat Local • Support Local

Feeling Stressed Trying To Sell Your Home?

Sensible Property Holdings, LLC is here to make selling your house fast and hassle-free. Our team of professionals will provide you with a fair offer for your home, without the need for repairs or cleanup. You have other things to worry about. Let us take care of everything for you.

Welcome To Your Equestrian Retreat

5 bedrooms | 3 bathrooms | 2,850 Sq.Ft. | 16 Acres 2980 State Highway 67, Amsterdam $599,995

Welcome to this equestrian retreat which includes a spacious 5 bedroom, 2.5 bath Colonial settled on 16 sprawling acres of incredible flat land. Desirable 1st-floor primary bedroom suite w/ patio doors leading to deck.

Entertain in the light-filled 2-story family room with a cozy gas fireplace or move the party to the formal dining room or intimate living room. Imagine dinners prepared in the open kitchen complete with granite countertop or enjoying morning coffee in the sun-drenched breakfast nook. Located on 16 private acres, it’s the ideal place to enjoy the outdoors with the screened-in gazebo on the back deck overlooking the grounds, a fenced-in yard with an above-ground pool, and a lovely pond.

Equipped with a new furnace, new pump for the 500 ft. well, and two 750 gal septic tanks with a new pump, this property is ready for the next owner to move right in. To complete your little piece of paradise, this outstanding property includes a 30X40 barn with a 4 ft overhead and over 4 10x10 stalls that open to both the inside barn and outside pasture for ultimate convenience. 2-3 acres of electric fencing is in place and the fenced in paddock is divided. Could easily put up an indoor arena.

Conveniently located only 10 minutes to the NYS Thruway & train station and 30 minutes to Schenectady, this lovely home is awaiting your touch. Call Michele today at (518) 527-9770 for your private appointment.

Fulton County Farm To Table Tour

The Farm to Table Tour is an event dedicated to connecting the public to the farmers of Fulton and Montgomery Counties.

This annual event, held once a year, is a self-guided tour to local farm stands/stores, meaning that you choose your route and the farms you want to stop at! Maps will be provided on-line and in-person to help you plan and navigate your day.

Participating farms will open their doors for the day in an effort to educate and connect consumers to local goods and services and so far, it looks like 30+ farm to table businesses will participate.

For more information or to sponsor or showcase your business at this July 30 event, find us online at farmtotabletour.org, on Facebook at: Farm To Table Tour or email:farm2tablefultonmontgomery@gmail.com

LifeandHomes Fulton / Montgomery

Darling 3BR/1BA cottage in the avenues! Walk to deeded E Caroga Lake access! High ceilings enhance this freshly painted home, fenced yard, new roof, ready for year round fun!

$119,777- Real Log cabin!

1BR/1BA w/ loft, open interior, fully insulated for year round enjoyment! Deck to enjoy the Southern Adks! 1 Acre, Close to Lapland Lake XC Ski, Northville & Caroga Lakes!

$175,000- Wells!!

4BR/1BA cape! Hardwood floors, living and dining room,Full basement. Enjoy the Town of Wells beach for summer fun!

Two for one! Church and 3BR/1.5BA home! Plenty of updates, freshly painted, close to Snowmobile trails, Caroga Lake and MORE! Perfect for home office, artist, private club, LIVE AND PLAY HERE!!

Adirondack Off the grid getaway! $118,000 Peaceful location borders trout stream, across road is state land, 4x4, snowmobile trails! All set up for

Grid living!! Phone and Internet available!

$75,000- E. Caroga Lake Access E. Caroga Lake Access via ECLAssoc. Beach ($80/yr) well and septic in place Build here or use as base to get on the lake!

$225,000- East Caroga Lake Sunsets forever! Direct waterfront handyman or fixer-upper. 3BR/1BA

Lake access just a short walk from this year round 3BR/1BA totally renovated home! Walk to summer concerts, enjoy the Adirondacks from this dead end street!

West Lake- Canada Lake 2BR/1BA with 75ft of waterfront!

Water Systems

315-484-5959

Pools/Spas

Water systems. Well drilling: new, cleaning, repair, low yield hydrofracking. Pump service: repair, pressure tank replacement. Water conditioning: softeners, filters, UV disinfection, storage systems. AmberWaterPros.com

18-Hole Golf Course With Fully Functioning Operations Offered at $4,200,000

A rare find in Upstate NY with so much history behind it. Family-owned and operated since its inception, this 18-hole 177-acre golf course, with its mature trees and rolling hills, is absolutely breathtaking and offers endless opportunities for the next owner.

The course benefits from the massive, vaulted ceiling clubhouse featuring storage over the main bar kitchen, a Pro Shop on the lower level, convenient locker rooms, and 6 bathrooms/2 with handicap accessibility. Exit the walkout basement from the locker rooms directly to the pool. Reimagine

that space and bring the pool back to its heyday. The potential for this outdoor entertaining space is nearly unlimited.

Guests enjoy the original bar area which is in pristine condition with built-in oak refrigerators, classic design, and function. The state-of-the-art kitchen and spacious celebration space are designed to accommodate events large or small.

Now offering guided showings of this one-of-a-kind gem. Proof of Finances is required before any confirmed showing. Call Jamie today to reserve your private showing. C: 518-929-4475

Green Sage Capital is here to guide you toward success. Our dedicated team understands the power of trust, e ective communication, and innovative problemsolving. Whether you’re a large institution or an individual investor, we’re committed to working closely with you. We’ll grasp your unique needs and provide tailored

solutions that align with your specific commercial real estate requirements. Why settle for ordinary investment options? With access to some of the nation’s largest commercial lenders and a network of private investors, we open doors to exceptional opportunities. It’s time to achieve your investment goals and unlock your full potential.

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