2018 Spotlight Real Estate Guide

March 28, 2018 | REAL ESTATE GUIDE 1

Spotlight News / The Spot 518

A publication of Spotlight News / The Spot 518 | March 28, 2018

REALESTATE Homes, Condos & Townhouses

105869_4

Guide

2 REAL ESTATE GUIDE | March 28, 2018

Spotlight News / The Spot 518

W E N D N A BR and Better” r o “55 f s e g cotta dults! a e v i t c a

Simplify Your Life…

Downsize & Right Size Your Life! ✔ Brand New Clubhouse ✔ Attached garages ✔ Private driveways ✔ Private front porches ✔ Private rear patios ✔ Pet friendly community

✔ 24 hour emergency maintenance ✔ Trash removal ✔ No more maintenance ✔ Gym membership ✔ All outdoor landscaping included ✔ Pools and Community Gardens coming soon

Mon–Fri 8AM-4PM • Sat 12PM–4PM

518-689-0162 • TheSpinneyatVanDyke.com

105919_4

Visit our Model Cottage at 6 Parker Mathusa Place (off Van Dyke Rd.), Delmar

March 28, 2018 | REAL ESTATE GUIDE 3

Spotlight News / The Spot 518

CAPITAL DISTRICT CONTRACTORS, INC. & nrooam u S n o n s

Deck

ea ayu Four-S Nisk

Professional, Honest Business Serving The Capital District for Over 30 Years!

Four-s e

ason S un Cliftornoom with Park Firepl a

ce

om Sunro n o s a e a Four-S Saratog

• 1ST & 2ND STORY ADDITIONS • 3 & 4 SEASON SUNROOMS/ SCREENROOMS • MASTER BEDROOM SUITES and IN-LAW APARTMENTS

ite om Su o r d e rB and Maste Guilderl

• FINISHED BASEMENTS TOTAL HOME RENOVATIONS

10% OFF any service at Capital District Contractors, Inc.

518-371-9950

Restrictions apply. Must mention this coupon at the time of the estimate.

New customers only. Prior sales excluded. Not valid with any other offer.

Expires 6/9/18.

✔Fully Insured

✔References

✔30 Years Experience

CALL TODAY FOR YOUR FREE ESTIMATE

W. David Bernacki, Owner

www.capitaldistrictcontractors.com 105908_4

4 REAL ESTATE GUIDE | March 28, 2018

Spotlight News / The Spot 518

TABLE OF CONTENTS Being the ‘New Kid’ in town Get acquainted with your new neighbors and surroundings

On page 6

Green movement Boost your home’s curb appeal with a lush lawn

On page 8

Lavatory science Learn about the latest high-tech gadgets for your bathroom

On page 9

The tiny house movment Find out why more people are buying smaller homes

On page 10

Tips for first-time real estate investors

Consider the risks before going after the rewards

On page 14

Simple ways to cut mortgage costs See if any of these options will help you save money

On page 14

Home prices up again December was the fifth consecutive month that year-over-year home prices increased more than 6 percent Article courtesy of CoreLogic CoreLogic, a leading global property information, analytics and data-enabled solutions provider, recently released its CoreLogic Home Price Index (HPI) and HPI Forecast for December 2017, which shows home prices are up both year over year and month over month. Home prices nationally increased year over year by 6.6 percent from December 2016 to December 2017, and on a month-overmonth basis home prices increased by 0.5 percent in December 2017 compared with November 2017,* according to the CoreLogic HPI. In Albany-Schenectady-Troy, home prices, including distressed sales, increased by 4.7 percent in December 2017 compared with December 2016. On a month-over-month basis, home prices, including distressed sales, stayed the same in December 2017 compared with November 2017.

Looking ahead, the CoreLogic HPI Forecast indicates that home prices will increase by 4.3 percent on a year-over-year basis from December 2017 to December 2018, and on a month-over-month basis home prices were expected to decrease by 0.4 percent from December 2017 to January 2018. The CoreLogic HPI Forecast is a projection of home prices using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owneroccupied households for each state.

“The number of homes for sale has remained very low,” said Dr. Frank Nothaft, chief economist for CoreLogic.

“Job growth lowered the unemployment rate to 4.1 percent by year’s end, the lowest level in 17 years. Rising income and consumer confidence has increased the number of prospective homebuyers.

The net result of rising demand and limited for-sale inventory is a continued appreciation in home prices.”

According to CoreLogic Market Condition Indicators (MCI) data, an analysis of housing values in the country’s 100 largest metropolitan areas based on housing stock, 35 percent of metropolitan areas have an overvalued housing market as of December 2017. The MCI analysis categorizes home prices in individual

“Home prices continue to rise as a result of aggressive monetary policy, the economic and jobs recovery and a lack of housing stock.

“As home prices and the cost of originating loans rise, affordability continues to erode, making it more challenging for both first time buyers and moderate-income families to buy.

Frank Martell President and CEO CoreLogic markets as undervalued, at value or overvalued by comparing home prices to their long-run, sustainable levels, which are supported by local market fundamentals such as disposable income.

Also, as of December, 28 percent of the top 100 metropolitan areas were undervalued and 37 percent were at value.

When looking at only the top 50 markets based on housing stock, 48 percent were overvalued, 14 percent were undervalued and 38 percent were at value. The MCI analysis defines an overvalued housing market as one in which home prices are at least 10 percent higher than the long-term, sustainable level, while an undervalued housing market is one in which home prices are at least 10 percent below the sustainable level.

“Home prices continue to rise as a result of aggressive monetary policy, the economic and jobs recovery and a lack of housing stock. The largest price gains during 2017 were in five Western states: California, Idaho, Nevada, Utah and Washington,” said Frank Martell, president and CEO of CoreLogic. “As home prices and the cost of originating loans rise, affordability continues to erode, making it more challenging for both first time buyers and moderate-income families to buy. At this point, we estimate that more than one-third of the 100 largest metropolitan areas are overvalued.” *November 2017 data was revised. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results.

March 28, 2018 | REAL ESTATE GUIDE 5

Spotlight News / The Spot 518

Looking to move away?

Family-friendly places to call home

W

hat makes a home inviting to one person may deter another. For example, some people want to reside in urban centers in close proximity to public transportation, culture and nightlife, while others may be looking for a swath of

property to raise livestock or enjoy privacy from neighbors.

Data from the U.S. Census Bureau indicates the average American can expect to move an estimated 11.4 times in his or her lifetime.

Parents or people who plan to start families may seek out towns or cities that cater to family-friendly pursuits.

Locations that cater to families may be good places to establish roots.

The following are several locales that are familyfriendly, based on metrics and methodology from sources such as WalletHub, RewardExpert, Forbes, Today’s Parent, and Reader’s Digest Canada, among others. Factors taken into consideration include cost of housing, quality of local school districts, quality of healthcare systems, availability of daycare, and recreational options.

Please note these family-friendly cities and towns are not listed in order of attractiveness to families. Those considering relocating are urged to visit a city or town to get a feel for the community for themselves before buying a home.

United States

Canada • Strathcona County, Alberta

• Overland Park, Kansas • Madison, Wisconsin • Plano, Texas • Seattle, Washington • Freemont, California • Minneapolis, Minnesota • Portland, Oregon • Naperville, Illinois • Columbia, Maryland • Arlington, Virginia • Boise, Idaho • Provo, Utah

• Milton, Ontario

• Boucherville, Quebec • Burlington, Ontario • Windsor, Ontario • Calgary, Ontario • Guelph, Ontario

• Ottawa-Gatineau, Ontario/Quebec • Sherbrooke, Quebec

CSI Home Inspectors NY “Solving all your home inspection needs”

Fully Licensed and Insured Proximity to recreation, school district rankings, median house prices, and availability of family attractions can make certain towns and cities more familyfriendly than others.

Sam or Mike Owners/Inspectors Latham, NY

tel. (518) 857-2745 crisciones@gmail.com www.csihomeinspectorsny.com UID# 16000078860

InterNACHI member

105906_4

Attorneys 2 Normanskill Blvd., Delmar, New York

John F. Maxwell REAL ESTATE AND BUSINESS LAW • Residential Real Estate Closings • Commercial Real Estate Closings • Last Will & Testaments • Trusts and Estate Administration • Business Formation of Limited Liability Companies, Sub-chapter S Corporations, etc.

Paul W. Van Ryn Almost 80 years combined legal experience

518-475-0016 E-mail: mvrlaw@aol.com

MATRIMONIAL & FAMILY LAW • Divorce, Custody, Child Support and Family Law • Uncontested Divorce $900.00+ court costs (based on previously executed Separation Agreement) • Pre-Nuptial Agreements • Simple Separation Agreements (no property and no children) $1,200.00 • Free Initial Consultation (one hour)

www.maxwellvanryn.com 105925_4

6 REAL ESTATE GUIDE | March 28, 2018

Spotlight News / The Spot 518

Being the ‘New Kid’ in town can take some time to acclimate to a new neighborhood.

These tips can help anyone get acquainted with their new surroundings and make friends in the process.

1. Host a housewarming party. Get to know immediate neighbors by hosting a party. After some unpacking is cross the country, people are packing boxes, done, host a simple get-together for people who live nearby. hiring trucks and moving short and long Ask if neighbors can help out by bringing chairs. Offer distances. The U.S. Census Bureau says that light refreshments and some type of activities for children. around 12 percent of the population moves each year. According to a survey by DuProprio, a Quebec- The event doesn’t have to be extensive, just long enough to engage in some conversation and introduce yourself. based real estate advice site, 28 percent of Canadians feel 2. Walk and drive around. Scout out the area by drivthe need to move every five years. Surprisingly, DuProprio also found that 14 percent of owners wish they could move ing around and making note of shopping centers, parks and places of interest. Schedule times when you will get out every year. of the car and walk around on foot, which makes it easier to take everything in. Use a website like Walkscore.com to find places within walking distance of your new home.

Bring the dog along. Dogs can be great ice breakers with new neighbors.

3. Check out community blotters. Community events may be posted in print and distributed through a local newspaper and also on municipal websites. Find out where The main reasons people move are expansion of the the locals go on weekends or during the week. Communifamily, a career change, retirement, empty nest situations, ties may take pride in certain activities. It’s easier to get a or when moving is more practical than large-scale home feel for the neighborhood by spending time with the locals. renovations. While some people stick close to previous 4. Become active in the community. Find a volunteer home locations, a 2015 American Community Survey organization or join a local house of worship. Check with found approximately 16.9 million people moved to a differthe local chamber of commerce for ways to get involved or ent county in 2015. clubs to join. Like-minded people can make living in a new Whether a move is across county lines or overseas, it locale more enjoyable.

5. Dine out once a week. If budget allows, try a new neighborhood eating establishment each week to get a lay A great way to meet neighbors after moving into of the land.

You’ll identify hot spots and hidden gems and your new home is to host a party. Ask them to will also be able to mingle with the community. An app bring a dish and maybe some chairs. Now, that’s 10:31 AM Page 1 such as Open Table can help you find places to eat nearby. a good excuse to have a backyard barbeque.

Five ways to get acquainted with a new neighborhood

A

REALESTATE Homes, Condos & Townhouses Guide

SpotlightsMarchRealEstateIssue2018_1 2pg_Layout 1 3/22/2018

5.25% APR* Variable Rate

Home Equity Line of Credit

Ready to do that new kitchen or bath? Put the equity in your home to work for you and pay no NYS Mortgage Tax! Come on over > kinderhookbank.com pet-friendly

people-friendly

.

.

.

.

.

.

.

.

.

.

Albany Amsterdam Canajoharie Chatham Delmar East Greenbush Greenport Johnstown Kinderhook Latham Valatie *Rate is variable and subject to change at any time. APR is Prime rate plus 0.50% with a floor rate of 5.25% and a ceiling rate of 14.50%. The Prime Rate for any billing cycle will be the latest Prime Rate for the U.S. published in the Money Rates section of the Wall Street Journal (“Latest U.S. Prime Rate”) on the last day on which the latest U.S. Prime Rate is published in the preceding calendar month.The Prime Rate as of March 21, 2018 is 4.75%. Applicants are subject to credit/income approval and must meet Kinderhook Bank underwriting guidelines to qualify. Take up to 10 years to access the available credit line and 15 years to repay. Up to an 80% Total Loan to Value (LTV) ratio on a single family, primary or secondary, owner-occupied home. Up to 70% LTV on Investor 1-2 unit properties. Loan amounts available of $20,000 up to $417,000. If HELOC line is used for first lien position, borrower is required to purchase Title Insurance which generally totals between $644.00 and $3,477.96. Borrower is not required to pay NYS Mortgage tax. You must carry hazard insurance on the property that secures your agreement. If applicable, flood insurance may also be required.You may obtain insurance through any person or company of your choice, which is reasonably acceptable to the bank. Special offer applies to new HELOC applications only. Consult a tax advisor for further information regarding the deductibility of interest/charges. Program may change at any time. NMLS #402626.

105927_4

March 28, 2018 | REAL ESTATE GUIDE 7

Spotlight News / The Spot 518

E

E

Welcome to

Bethlehem’s Premier Town Home Community If you’re looking for a new home in the prestigious Town of Bethlehem you have found it…here at Elm Estates.

Our masterfully planned community is nestled in a quiet neighborhood, surrounded by magnificent wooded landscaping.

Elm Estates offers a variety of floor plans in 2 and 3 bedroom Townhome or Duplex style rental homes. Select styles offer cathedral ceilings with skylights, balconies, and wood burning fireplaces.

All of our rental homes include full size kitchen appliances, washer/dryer, ceramic tiled baths, private driveway, garage with direct entry into your home, and outdoor yard for you to enjoy.

Office Address: 122-A FAirlawn Drive Selkirk, New York 12158

Experience a Peaceful, Country Life at Elm Estates!

• GORGEOUS COUNTRY SETTING • NEW GRANITE KITCHEN CABINETS AND COUNTERTOPS • GAS FIRED HEATING AND CENTRAL A/C • PRIVATE DRIVEWAY AND GARAGE • ALL SNOW REMOVAL AND LANDSCAPING INCLUDED • PET FRIENDLY

Elm Estates is located in Bethlehem, a neighborly community only 15 minutes from downtown Albany.

Call (518) 439-1191 today for information and directions.

elmestates@gmail.com | www.towermgt.com 105928_4

8 REAL ESTATE GUIDE | March 28, 2018

Spotlight News / The Spot 518

Green movement

Three ways to use your lawn to improve curb appeal

R

eturns on home improvement projects vary. In its annual Cost vs. Value Report, Remodeling magazine notes the projects that yield the best returns on investment in a given year. But a host of factors, including the type of market (buyers’ or sellers’) and the region where the home is being sold, ultimately combine to determine if homeowners’ investments in home improvement projects will provide the returns they were hoping for.

Though there’s no way of guaranteeing a home improvement project will yield a great return, real estate professionals often cite improving curb appeal as an excellent way to attract prospective buyers and potentially get the asking price or more when selling the home. Improving curb appeal makes even more sense in today’s real estate market, when many people do their own searching via real estate websites such as Trulia or Zillow. When using such sites, buyers will likely be less inclined to click on a listing if exterior photos of the property are not eye-catching.

Various projects, including tending to lawns and gardens, can improve curb appeal. An added benefit to focusing on landscaping to improve curb appeal is it promotes spending time outdoors in spring and summer. In addition, many lawn- and garden-related home improvement projects need not require professional expertise.

105870_4

may seem. Applying fertilizer and aerating at the appropriate times of year (this varies by region) can promote strong roots and healthy soil, making it easier for grass to survive harsh conditions like drought. When watering in summer, do so in early morning or evening so as little water is lost to evaporation as possible.

2. Address brown patches

Even well-maintained lawns can fall victims to brown spots. According to the lawn care professionals at TruGreen, lawns in regions with hot temperatures and high humidity can be infected with brown patch, a common lawn disease that is caused by fungus, which can produce circular areas of brown, dead grass surrounded by narrow, dark rings. Penn State’s College of Agricultural Sciences notes that removing dew that collects on grass leaves each morning, which can be accomplished by mowing or dragging a water hose across affected areas, can be an effective way to reduce brown patch. Homeowners without much lawn care experience can consult professional landscapers to address the issue. But those looking to sell their properties should note that buyers often walk the grounds of homes they are considering buying. So addressing any issues on the lawn should be a priority for sellers.

3. Confine dogs to certain areas

Dog owners may want to let their pets roam free in their yards. But homeowners about to put their properties up for sale may want to confine their four-legged friends to certain areas. That’s because dog urine can be high in nitrogen. Nitrogen itself is not 1. Maintain a lush green lawn harmful to lawns, but in high concentrations Lawns that fall into disrepair may not it can contribute to yellow or brown spots. give buyers a correct impression about Also, highly acidic dog urine may even how homeowners maintained their homes. adversely affect pH levels in the soil.

Lawns with multiple dead spots and grass Curb appeal can go a long way toward that appears more brown than green may lead many buyers to assume that the home’s helping homeowners sell their homes, and interior was equally ill-cared for. Maintain- a lush lawn can be used to catch the eye of ing lush green lawns is not as difficult as it prospective buyers.

March 28, 2018 | REAL ESTATE GUIDE 9

Spotlight News / The Spot 518

DO YOU HAVE INVESTMENT PROPERTIES FOR SALE?

The Richer Team at Hanna Commercial Real Estate has buyers looking for the following types of investment properties: • Multifamily Apartment Buildings • Office buildings in the Town of Bethlehem and Colonie • Land in Guilderland, Albany or Glenmont for development of senior housing

FOR SALE 1090 Troy Schenectady Road, Latham, NY

The Route 7 Diner and Restaurant located in a prime location on Troy Schenectady Road in Latham is for sale. The Sale includes real estate, business and FF&E. All showings must be coordinated with the listing broker, please do not approach the employees.

Asking Price is $1,425,000

687 New Loudon Road, Latham , NY

For sale is real estate located on Route 9 with established meat market business. Owner is willing to train buyer and make introductions to book of business. Asking price includes all FF&E. There are 4 walk in coolers in the building. All showings must be coordinated with the listing broker, please do not approach the employees.

Asking Price is $695,000

408 Rosa Road, Schenectady, NY

Mixed use commercial building located near Ellis Hospital. Restaurant is located on the first floor of the building. Second floor has two income producing apartments. Asking price of $425,000 includes mixed use commercial building with restaurant business and FF&E; one income producing billboard; two car garage and parking lots. All showings must be coordinated with the listing broker, please do not approach the employees.

Lavatory science

T

echnology is infiltrating every room of the house. Many new home buyers are millennials, and this tech-savvy demographic covets technological innovations.

A recent survey by Better Homes & Gardens Real Estate indicates 77 percent of Generation X and Y home buyers want their homes equipped with the tech capabilities they have grown accustomed to. Many of these involve smart innovations, including those that can transform one of the most private rooms in the house — the bathroom.

Automated home theater rooms and Wi-Fi-enabled home security systems have become the norm, but what tech improvements are available to make the powder room more in touch with today’s digital lifestyle? According to the home improvement resource The Spruce, bathrooms have the most potential of any rooms to be improved with technology. The following are just some of the bathroom gadgets and gizmos no one should resist before giving a try.

Automatic faucets

Infrared sensors have been helping keep public restrooms more hygienic for years.

The same technology can be used in home bathrooms to curtail water waste and keep faucets and sinks from becoming infested with germs. In addition, faucets with builtin timers can be programmed to set tasks for brushing teeth or washing your face.

Musical shower

Instead of having to blast the volume on

3794 Route 145, East Durham, NY

the portable speaker you use in the bathroom, a wireless speaker is built into some showerheads. This enables those who like to sing in the shower or listen to podcasts while washing up to enjoy this luxury effortlessly.

Retail and warehouse buildings on 2.69 acres. Building on left has retail and office, 2 loading docks and two 14 Ft over head doors providing drive-thru capacity. Additional office space on 2nd floor. Building on right is approximately 1,728 SF with two 14 foot over head doors providing drive-in capacity. Parcel offers plenty of land to drive around the buildings and for outside parking of vehicles. Both buildings are spray foam insulated.

Asking Price is $240,000

Smarter weight management

57 Church Street, Saratoga Springs, NY

Bathroom scales have gone high-tech as well, with various options enabling users to measure weight, BMI and body fat percentage before sending the data wirelessly to a phone, tablet or computer. This can put you in greater control of fitness goals.

High-tech toilets

Borrowing ideas from bidets and trends around the world, modern toilets do not require hands or paper. These toilets have temperature-controlled water, spritzing wands and air dryers to clean and sanitize.

Self-cleaning toilets help busy professionals save time and are ideal for those who always want their bowls as clean as possible.

And if you desire extra comfort, toilet seat warmers are available, while LED lights can make nighttime restroom visits easier.

Soaking tubs

As fast as stand-alone showers were introduced to the modern bathroom, tubless designs have been replaced with streamlined soaking tubs. Tubs come with different features, including chromatherapy, which employs colored lights to enhance mood. Air baths are controlled electronically and provide different levels of sensation for those who are skipping the hot tub.

Round out these innovations with automated lights, chilled medicine cabinets and aromatherapy, and your bathroom will indeed become a technological spa.

Excellent location, established laundromat in Saratoga Springs. Services include self serve wash/dry, full service wash/fold, tailor services and dry clean drop off. Parking behind building. Owner looking forward to retiring after 32 years in business. Huge upside to business for face lift and added drop off/pickup services for new operator. Sale contingent on landlord/ purchaser negotiating new lease. Do not approach business or employees.

Asking Price is $75,000

FOR LEASE 1692 Central Avenue, Albany NY Professional Office Building with a two room office suite and private bath on 1st floor for $1,500/month including utilities. On second floor there are 3 suites with shared private bathrooms and kitchenette: one room suite $350/month including utilities; two room suite $675/month including utilities and 3 room suite $975/month including utilities. Located on Central Ave approximately 1.2 miles from I-87 Exit 2 and private parking for 30+ cars. On CDTA Bus line.

97 Railroad Avenue, Albany, NY

Approximately 5,603 SF includes reception area, multiple offices and open area which can be used as a bull pen area or cubicles. Handicapped accessible. Asking $6.95/SF plus utilities, water, refuse and janitorials.

Now is a great time to sell if you have a warehouse please call us.

THE RICHER TEAM at Hanna Commercial Real Estate

Ravi S. Modasra

Licensed Associate R.E. Broker (C) 518-312-0447

RaviModasra@gmail.com

Jessica L. Richer Licensed Associate R.E. Broker

(C) 518-364-7406 Jessica.Richer@gmail.com

Joseph K. Bottillo, CIREC Licensed Real Estate Salesperson (C) 518-331-1660

Joseph/Bottillo@HannaCRE.com

Albany Office: 20 Aviation Rd., Albany 518-458-7000 Delmar Office: 231 Delaware Ave., Delmar 518-439-2888

105879_4

Transform bathrooms with technology

Asking Price is $425,000

10 REAL ESTATE GUIDE | March 28, 2018

Spotlight News / The Spot 518

The tiny house movement

T

he tiny house movement has transformed the way many people look at housing and how it can help them downsize not only their residences, but also their lives.

Living small has been embraced as an eco-friendly way to cut costs and simplify life. According to the tiny house resource The Tiny Life, the typical American home is 2,600 square feet, while the typical tiny house is between 100 and 400 square feet.

Many tiny homes are smaller than the average urban apartment. Proponents of the small house movement say that living the tiny life isn’t really a sacrifice, but a way to experience a simpler, fuller life that frees them from expensive mortgage payments and unnecessary clutter.

One of the advantages of tiny house living is that buyers are often able to buy their homes (whether stationary or mobile) outright, eliminating the need to finance their purchases. Tiny homes also boast much lower utility bills than more traditional homes. Outfitting tiny homes with wood-burning appliances can keep heating costs to a minimum. In some instances, tiny homes are completely off the grid, harvesting electricity through solar panels and employing rain-capturing technology to Tiny houses may appeal to eco-friendly prospective homeowners looking to cut costs. supply water.

Photo courtesy of Bear Creek Carpentry According to the resource Living Big

in a Tiny House, the tiny house movement is eco-friendly. Small homes create much smaller carbon footprints than large homes.

In addition, the resources needed to build and sustain such homes pales in comparison to those needed to build and maintain more traditional homes. Furthermore, with less interior space, residents of tiny homes are less likely to acquire items they don’t necessarily need, reducing clutter and saving money.

The following statistics, courtesy of The Tiny Life, paint a picture of the tiny home lifestyle: • Sixty-eight percent of tiny house people have no mortgage, and 78 percent own their home.

• The average cost to build a tiny house is $23,000 for do-it-yourselfers.

• Eighty-nine percent of tiny house dwellers have less credit card debt than the average person.

• Tiny house owners earn an average of $42,038 each year.

• Many tiny home owners are age 50 or older.

Those interested in the tiny house lifestyle can find many companies that now specialize in these dwellings. Emptynesters looking to downsize may find tiny homes are an affordable way to simplify their lives.

Return of town square Bringing an urban feel to suburban living

T

own centers are trending in communities across the country.

These mixed-use complexes have a variety of features that make them attractive to young professionals, families and seniors. Town centers marry apartments, condos or townhouses to commercial office space and retail shops while providing recreational areas to offer the convenience of city living in suburban areas.

Many developers and architects support town centers. Unlike suburban sprawl with acres upon acres of space between houses and shops, town centers promote the concept of proximity as a profitable and attractive real estate design principle. While some town centers date back to the mid- to late-1990s, it was not until the 2000s that such centers were embraced on a wide scale. According to LMN Architects, which piloted the development of Redmond Town Center in Oregon, lifestyle trends that reflect the pressures of modern society have created a demand for town centers.

Here are some of the reasons why town centers are growing in popularity and why one may be coming to a town near you.

• Casual interaction: Town centers provide common areas where residents and visitors can gather and spend time together.

This fosters a more relaxed and homey feel than congregating in a mall anchored by

department stores.

• Recreation: Recreational opportunities for active people attracts many people to town centers. Centers may include park land, walking paths, fountains, bandstands for local performers, rooms to embrace the arts, and/or pools.

• Mixed retail: Town centers frequently feature a mix of national retailers and small mom-and-pop shops. This helps to create a “Main Street” vibe in the community.

• Housing options: Living within a town center enables residents to have amenities right outside their doors. Housing complexes attached to retail stores and recreational areas ensures residents that something to do is never too far away.

• Attracts visitors: Travelers passing through may be enticed by the offerings of town centers, making them more inclined to stop for a bite to eat or to do some shopping in these communities.

• Nearby schools: Schools may be included in the blue prints of town center projects to accommodate families. Individuals who reside and socialize within the center will have the luxury of sending their children to the same school.

• Transit hub: Some town centers are built around a train or bus station, offering residents easy access to mass transit.

Town centers located in suburban areas The Delmar Farmers Market at Bethelehem Central Middle School is just one example of how life in represent a way to infuse close-knit, urban- suburbia has evolved to incorporate some of the best features of urban living. This weekly attraction helps coax visitors to shop locally and support neighboring businesses. style living outside of big cities.

Michael Hallisey / Spotlight News

March 28, 2018 | REAL ESTATE GUIDE 11

Spotlight News / The Spot 518

Since 1997

The Capital Region’s First Choice in Roofing Bonded • Free Estimates • 100% Financing Available Fully Insured • Extended Warranties Available

proudly celebrating

services

1997 to 2018 Thank You For Your Loyal Support!

• • • • • •

21years in

business

Shingle Roofs Architectural Shingle Roofs Custom Copper Work Standing Seam Metal Roofs Slate Look-A-LIke Roof Inspections

• Skylights • Architectural Sheet Metal • Gutter Systems • Flat Roofs • Roof Coatings

STAR ROOFING SPRING INCENTIVE

ROOFING SPECIAL

FREE UPGRADE

100% financing available

Receive A Free Upgrade To A Lifetime” Shingle Roofing System With A Non-Prorated 50-year Full System Extended Warranty With The Mention Of This Ad. Offer expires 5/18/18.

“Same As Cash”and fixed rate options available.

99/mo

$

20 Colvin Ave. | Albany 518-449-3422 www.starroofing.net

Get

INSTANT CREDIT

and get your roof done now!

Offer expires 5/18/18.

105940_4

our-se

ason S un Cliftornoom with Park Firepl ace

12 REAL ESTATE GUIDE | March 28, 2018

REAL ESTATE GUIDE | Resource Directory

* Sunrooms * Screenrooms * 1st & 2nd Story Additions * In-Law Apartments * Finished Basements

CAPITAL DISTRICT CONTRACTORS, INC. m& Sunroo

Deck

ason yuna Four-Se Niska

Professional, Honest Business Serving The Capital District for Over 30 Years! ason Su nr Cliftonoom with Park Fireplac e

CALL TODAY • 3 & 4 SEASON SUNROOMS/ SCREENROOMS

crisciones@gmail.com

UID# 16000078860

InterNACHI member

105906_4

Elm Estates is the most unique rental community in the Capital District, offering comfortable, spacious two and three bedroom townhomes and duplexes. Each unit comes with a minimum of 1.5 bathrooms, private driveway and direct entry garage, washer/dryer and renovated kitchens and bathrooms. Located in the beautiful Town of Bethlehem, we offer several choices to fit your lifestyle and family.

TOTAL HOME RENOVATIONS

10% OFF any service

CALL TODAY

at Capital District Contractors, Inc.

FOR YOUR FREE ESTIMATE

518-371-9950

✔References

W. David Bernacki, Owner

✔30 Years Experience

www.capitaldistrictcontractors.com

W. David Bernacki, Owner

tors.com

www.csihomeinspectorsny.com

www.csihomeinspectorsny.com InterNACHI memberJudith “Judi” Gabler UID# 16000078860

• FINISHED BASEMENTS

Restrictions apply. Must mention this coupon at the time of the estimate.

New customers only. Prior sales excluded. Not valid with any other offer.

Expires 6/9/18.

✔Fully Insured

Latham, NY tel. (518) 857-2745

Fully Licensed and Insured

Owners/Inspectors Latham, NY

• MASTER BEDROOM SUITES and IN-LAW APARTMENTS

ite om Su r Bedro and Maste Guilderl

tel. (518) 857-2745

Contact: PO Box 483 Latham, NY “Solving all your home inspection crisciones@gmail.com needs” (518)-857-2745 • Crisciones@gmail.com.

Owners/Inspectors

Sam or Mike

Elm Estates

• 1ST & 2ND STORY ADDITIONS

FOR YOUR FREE ESTIMATE nroom ason Sua Four-SeSaratog

CSI Home Inspectors NY Mike Sam or

Contact us for all your home improvement needs. One of the Capital Districts leading home improvement contractors.

Contact: (518) 371-9950 • dave.bernacki@gmail.com

Four-se

ce

estimate. her offer.

We are a full service home inspection company which prides itself in professionalism and client satisfaction.

We provide thorough inspections with detailed reports “Solving all your home which include photos and explanations of allinspection defects observed. We are flexibleneeds” with your tuff schedules providing night and weekend appointments. Call and book Fully and Insured yourLicensed appointment today!

Serving the Capital District for over 25 years

MS/

S

CSI Home Inspectors NY CSI Home Inspectors NY

Capital District Contractors, Inc.

IONS

ES S

Spotlight News / The Spot 518

Gabler Realty

Gabler Realty combines trust, technology, and transparency to deliver proven results for any real estate move.

Whether you’re buying or selling, we make the journey about your dreams for the future. Our agents deliver ambitious strategies while ensuring our clients are informed, confident, and successful in reaching their goals

Contact: 122-A Fairlawn Drive, Selkirk, NY (518)-439-1191 • towermgt.com

Contact: 312 Delaware Ave., Delmar, NY (518) 935-4800 • marketing@gablerrealtyny..com

Jessica L. Richer

Kinderhook Bank

Hanna Commercial Real Estate

105

SpotlightsMarchRealEstateIssue2018_1 2pg_Layout 1 3/22/2018 10:31 AM Page 1

Attorneys 5.25% APR*

Commercial Realtor for over 18 years. Real estate experience includes land development, representation of landlords and tenants for leasing of retail, office and warehouse space and selling of real estate property such as mixed-use buildings, multifamily apartment buildings, senior housing communities and all types of commercial Come on over > kinderhookbank.com real estate.

A strong, local community bank since 1853 offering friends, neighbors and businesses banking and lending products with personal service beyond compare. Peoplefriendly, pet-friendly. Your kind of bank!

Variable Rate

Home Equity Line of Credit

Ready to do that new kitchen or bath? Put the equity in your home to work for you and pay no NYS Mortgage Tax!

2 Normanskill Blvd., Delmar, New York pet-friendly

people-friendly

.

.

.

.

.

.

.

.

.

.

Albany Amsterdam Canajoharie Chatham Delmar East Greenbush Greenport Johnstown Kinderhook Latham Valatie

Contact: 20 Aviation Road, Albany, NY (518)-364-7406 • JessicaRicher@HannaCRE.com

John F. Maxwell

*Rate is variable and subject to change at any time. APR is Prime rate plus 0.50% with a floor rate of 5.25% and a ceiling rate of 14.50%. The Prime Rate for any billing cycle will be the latest Prime Rate for the U.S. published in the Money Rates section of the Wall Street Journal (“Latest U.S. Prime Rate”) on the last day on which the latest U.S. Prime Rate is published in the preceding calendar month.The Prime Rate as of March 21, 2018 is 4.75%. Applicants are subject to credit/income approval and must meet Kinderhook Bank underwriting guidelines to qualify. Take up to 10 years to access the available credit line and 15 years to repay. Up to an 80% Total Loan to Value (LTV) ratio on a single family, primary or secondary, owner-occupied home. Up to 70% LTV on Investor 1-2 unit properties. Loan amounts available of $20,000 up to $417,000. If HELOC line is used for first lien position, borrower is required to purchase Title Insurance which generally totals between $644.00 and $3,477.96. Borrower is not required to pay NYS Mortgage tax. You must carry hazard insurance on the property that secures your agreement. If applicable, flood insurance may also be required.You may obtain insurance through any person or company of your choice, which is reasonably acceptable to the bank. Special offer applies to new HELOC applications only. Consult a tax advisor for further information regarding the deductibility of interest/charges. Program may change at any time. NMLS #402626.

REAL ESTATE John F. Maxwell

BUSINESS MaxwellAND & Van Ryn, LLP LAW

• Residential Real Estate Closings • Commercial Real Estate Closings • Last Will & Testaments Our firm has represented buyers, sellers and lenders in • Trusts Estate Administration residential and and commercial closings for over 28 years.

• Business Formation of Limited Liability Companies, Sub-chapter S Corporations, etc.

Attorneys

105927_4

REAL ESTATE AND BUSINESS LAW • Residential Real Estate Closings • Commercial Real Estate Closings • Last Will & Testaments • Trusts and Estate Administration • Business Formation of Limited Liability Companies, Sub-chapter S Corporations, etc.

Contact: 2 Normanskill Blvd., Delmar, NY (518) 475-0016• www.maxwellvanryn.com

Paul W. Van Ryn Almost 80 years combined legal experience

MATRIMONIAL & FAMILY LAW

518-475-0016

518-475-0016 E-mail: mvrlaw@aol.com

• Divorce, Custody, Child Support and Family Law • Uncontested Divorce $900.00+ court costs (based on previously executed Separation Agreement) • Pre-Nuptial Agreements • Simple Separation Agreements (no property and no children) $1,200.00 • Free Initial Consultation (one hour)

www.maxwellvanryn.com

105925_4

Paul W. Van

Michelle Kavanaugh MATRIMONIAL

Almost Organize Senior Moves, LLC • Divorce, Custody, C and Family Law 80 years Uncontested Divorc Michelle Kavanaugh specializes as a Senior• Moving combined Manager. Experienced 500+ moves, helping costs seniors(based on pre Separation Agreeme relocate to private residence, assisted living facility, or • Pre-Nuptial Agreeme legal senior housing complexes. Dedicated to being the pre• Simple Separation A full service provider in the organization of moving experiencemier (no property and no seniors. Specialize in layouts, downsizing, packing and

2 Normanskill Blvd., Delmar, New York

John F. Maxwell

Contact: 1 Hudson St., Kinderhook, NY (518)-758-7101 • www.kinderhookbank.com

• Free Initial Consulta unpacking, clean outs. “Making moving easier.”

Contact: PO BOX 673, Glenmont, NY (518)-528-2622 • www.OrganizeSeniorMoves.com

www.maxwellvanryn.c

Spotlight News / The Spot 518

March 28, 2018 | REAL ESTATE GUIDE 13

REAL ESTATE GUIDE | Resource Directory Quality PM, Inc.

Star Roofing & Restoration

Quality PM can meet all your housing needs including remodeling your current home, building a new home or helping find the perfect apartment. Our company strives to deliver quality projects, exceed customer expectations and be an active partner in our community. Quality PM has been building and improving area homes and businesses for over 15 years.

Star Roofing is a full service Residential and Commercial RoofingCompany serving the entire Capital District. We are celebrating our 21st year in business and are centrally located at 20 Colvin Ave in Albany. Fully insured, factory trained and locally owned, Star has a solution for you.

Contact: 199 Delaware Ave., Delmar, NY (518) 459-7100 • www.qualitypm.com

Contact: 20 Colvin Ave., NY (518)-449-3422 • starroofing.net

Gregg Biche

Peter Wall

The Spinney Group The Spinney Group is a full service property development and management company focusing on residential and commercial properties in the Capital District. Over the years, the Spinney’s portfolio has grown and now includes age-qualified “active-adult” rental communities in addition to traditional multi-family apartment complexes and commercial office buildings Contact: 1 Juniper Drive, Delmar, NY (518) 475-9088 • TheSpinneyGroup.com

199 Delaware Ave | Delmar, NY 518-459-7100 | info@qualitypm.com

105917_4

14 REAL ESTATE GUIDE | March 28, 2018

Spotlight News / The Spot 518

Tips for first-time real estate investors

R

eal estate can be a good investment that helps build wealth and secure a financial future.

According to Investopedia, average 20-year returns in commercial real estate hover around 9.5 percent, while residential and diversified real estate average returns of 10.6 percent.

Such figures may seem too good to ignore for many prospective real estate investors. But investing in real estate can be risky, and it’s important that first-time investors consider a host of factors before deciding to delve into the real estate market.

Current finances

Real estate can potentially yield big returns, but these may only materialize after investors spend ample amounts of money refurbishing or even maintaining their investment properties. Prospective investors without the capital on hand to finance repairs or routine maintenance may find it difficult to make their properties appealing to potential tenants, which can make it harder to meet mortgage payments. Prospective investors who already have sizable debts, be it consumer debt or existing mortgage payments, may want to pay down those debts before investing in real estate.

Down payments

According to Wells Fargo, mortgage insurance does not cover investment property, and loans typically require a minimum down payment of 20 percent of the value of the property. So prospective

investors cannot count on mortgage insurance to finance their investments in real estate. Investors should not just make sure they can meet that 20 percent requirement, but also ensure they have enough capital left after making their down payments to address any repairs that need to be made.

If not, they might have trouble attracting renters willing to pay enough in rent.

Interest rates

Prospective real estate investors may be surprised to learn that investment property loans are often subject to higher interest rates than those for home buyers borrowing to purchase a primary residence, says Quicken Loans. Investors should not count on getting the same or better interest rates for their investment properties that they did when buying the homes they currently live in.

Financial reserves

Some lenders may require that prospective investors have sizable financial reserves before they will lend them money to invest in real estate. Some may require that borrowers have several months’ worth of reserves to finance both their personal lives and their investments. If a 20 percent down payment would make that impossible, then prospective investors may want to wait a little longer to invest and save more money until their financial reserves would prove more acceptable to lenders.

Investing in real estate can yield big returns. But first-time investors should know that such investments are vastly different than investing in a home for oneself.

Simple ways to cut mortgage costs

M

onthly mortgage payments are the biggest single expense for many homeowners. So it’s understandable why plenty of homeowners would love to trim those costs.

REALESTATE Homes, Condos & Townhouses Guide

A host of factors determine how much homeowners pay for their mortgages each month. The cost of the home, the amount of the initial down payment and property taxes, which are often folded into monthly payments, will factor heavily into the cost of home ownership. While homeowners may feel as though there’s little wiggle room to cut the costs of their mortgages, there are several ways to do just that and potentially trim years from the life of a home loan.

Make bi-weekly payments

Making bi-weekly instead of once-amonth payments can save homeowners substantial amounts of money. A year’s worth of once-a-month payments equates to 12 payments per year. But homeowners who pay on a bi-weekly basis will make 26 half payments, or 13 full payments, per year.

That extra annual payment can be applied directly to the principal, dramatically reducing how much homeowners pay in interest over the life of their loans.

Stop paying PMI

Homeowners whose initial down payments are less than 20 percent of the sale price will have to pay private mortgage insurance, or PMI. But once the balances on such mortgages falls below 80 percent, homeowners can cancel such insurance.

Homeowners may also be able to stop paying PMI by having their homes reappraised.

Refinance the loan

Refinancing a loan also can save homeowners substantial amounts of money each month. Homeowners are typically eligible

for lower interest rates when refinancing their loans, meaning they will pay less in interest each month. However, refinancing is not free, so homeowners should first check the going home interest rates and examine their credit scores to see if the interest rate they’re likely to get upon refinancing will save them money. The cost of refinancing might be more than homeowners can save.

Request a tax reassessment

Real estate values increase and decrease, and homeowners who feel their homes have decreased in value can request that their homes be reassessed. Homeowners whose homes are assessed at a value lower than the current value can expect to pay less each month in taxes.

Homeowners hoping to cut mortgage costs have various options at their disposal.

March 28, 2018 | REAL ESTATE GUIDE 15

Spotlight News / The Spot 518

Organize Senior Moves “Makes Moving Easier” www.OrganizeSeniorMoves.com

Helping seniors make their moves Organize Senior Moves guides people through the difficult task of downsizing

• • • • •

• Experienced: 500+ moves • Set up new home • Estate Sales • Stage old home sale • Oversee whole move

Design Layouts Downsizing Organizing Packing Unpacking Michelle KavanaughAnastasi founded Organize Senior Moves six years ago to help seniors and their families deal with downsizing and moving step by step.

(518) 528-2622

FREE CONSULTATION

“With Organize Senior Moves…this will be the best move you’ve ever made!!!”

Franchise Opportunities Available 105941_4

16 REAL ESTATE GUIDE | March 28, 2018

Spotlight News / The Spot 518

TRUST. TECHNOLOGY. TRANSPARENCY. Making the real estate journey about your dreams for the future.

Whether you’re buying or selling, our team-centered brokerage combines trust, technology, and transparency to deliver proven results for any real estate move.

Our professionals navigate ambitious strategies while ensuring our clients are informed, confident, and successful in reaching their goals.

Mary Canova

Real Estate Salesperson C: (518) 928-9797

Rebecca Cavalieri

Real Estate Salesperson C: (518) 210-4916

Paula Rice

Assoc. Real Estate Broker C: (518) 522-2825

Judith Gabler

Paige Jones

Real Estate Broker & Owner Real Estate Salesperson C: (518) 727-5653 C: (518) 334-6783

David Ryan

Real Estate Salesperson C: (518) 810-4255

Rylan Nelson

Real Estate Salesperson C: (518) 469-0745

Roxanne Stanton

Real Estate Salesperson C: (518) 817-1022

www.GablerRealtyNY.com | 321 Delaware Ave, Delmar, NY | 518.935.4800 105918_4