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Real Estate & Home Services Guide

How millennials are changing the housing market

Page 6 Bedroom decorating tips to help you get more Z-s

Page 10 3 times you don’t need a 20% down payment

Page 15

VOLUME 2 | ISSUE 10 | NOVEMBER 2019

A Publication of The Daily Star

102 Chestnut St., Oneonta, NY 13820 607-432-1000 • www.thedailystar.com PUBLISHER Fred Scheller fscheller@thedailystar.com (607) 441-7214

ADVERTISING DIRECTOR Valerie Secor vsecor@thedailystar.com (607) 441-7235

GRAPHIC DESIGNER Tracy Bender

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Real Estate & Home Services Guide How to use a blower door test to fix air leaks.. . . . . . . . . . . . . . . . . . . . . . . . . . . 4

How to make a windowless room seem brighter.. . . . . . . . . . . . . . . . . . . . . . . . 12

8 real estate investment tips.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

4 things reality TV gets wrong about real estate. . . . . . . . . . . . . . . . . . . . . . . . 13

How millennials are changing the housing market. . . . . . . . . . . . . . . . . . . . . . . . 6

Reasons to live in your home before renovating it.. . . . . . . . . . . . . . . . . . . . .

14 Top tips for long-distance house hunters. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 3 times you don’t need a 20% down payment. . . . . . . . . . . . . . . . . . . . . . . . . . 15 Bedroom decorating tips to help you get more Z’s. . . . . . . . . . . . . . . . . . . . . 10 Is home staging worth the money?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Which renovations are worth an investment?. . . . . . . . . . . . . . . . . . . . . . . . . . . 1 1 3 tips for downsizing in a hot market. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 2

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How to use a blower door test to fix air leaks

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o you find it challenging or expensive to keep your home at a steady, comfortable temperature? Or maybe you want to make sure the house you’re building is as energy efficient as possible? In either case, a blower door test can determine how airtight the building is and whether outside air is getting in.

What is it?

A blower door is a special type of fan attached to a flexible frame and panel that fits into the doorway of a home. During the test, all exterior doors and windows are closed but interior doors are opened to ensure proper air flow.

How does it work?

When the fan is turned on, it pulls all the air out of the building. This allows the outdoor air with its higher pressure to flow in through any gaps, cracks or holes. The technician may use a tool like a thermal image camera or a smoke pencil to pinpoint where the leaks are.

Fixing leaks If leaks are found in a new construction, they can be fixed before the walls are closed. This ensures the structure is as energy efficient as possible.

In existing homes, the test helps to pinpoint the exact place where outdoor air is getting in.

These are often easy to fix on your own with new caulking or weather stripping around your windows and doors. Larger leaks may need to be repaired by a professional.

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8 real estate investment tips I

nvesting in real estate offers substantial tax benefits and is a good way to diversify your portfolio.

To make the most of your real estate investments, here are eight tips you should follow.

1. Do your research. If you’re not familiar with the market, seek the help of a professional and remember that the principle of “buy low, sell high” applies to real estate.

2. Diversify. Just like your overall portfolio, it’s crucial to diversify your real estate holdings. Invest in diverse areas and property types.

3. Team up. Unless you can devote a lot of time and energy to your holdings, it’s best to have an investment partner or join a group of investors.

4. Get advice. Seek the expertise of someone with a good track record in real estate transactions. They’ll be able to give you relevant information.

5. Adjust expectations. Don’t expect investing in real estate to be easy, because it isn’t. Just like other forms of wealth management, it requires know-how and experience.

6. Look beyond bargains. Don’t expect to find a major discount.

Approach the market with a longterm outlook and privilege properties that are likely to help you build equity and grow your portfolio.

7. Have a way out. Selling a piece of property that’s appreciated in value may seem like a lucrative option, but you may end up paying a lot of taxes. Have a plan for reinvesting the profits.

8. Look at the big picture. Make sure you understand how real estate fits in with your overall investment strategy. The best thing to do is to sit down with a financial adviser and make a plan.

Above all, remember that the best way to enter the real estate market is strategically. Know what your goals are and make a plan to attain them.

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How millennials are changing the housing market

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illennials are increasingly looking to become homeowners. Here are four trends that are gaining in popularity as more of them enter the housing market.

1. Intergenerational living It’s increasingly common for millennials to live with their parents, even after they’ve started a family of their own. Laneway homes and basement suites are very 6

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popular as they allow kids to buy into the home and eventually take over the main living area. This has the advantage of letting parents downsize without moving.

2. The sharing economy Renting out part of their homes allows millennials to maintain their quality of life while making it possible for them to invest in real estate. Houses with areas that can be rented out easily are thus in high demand.

3. Move-in ready homes Millennials approach the housing market with limited financial resources and with a concern for their work-life balance. Many of them aren’t willing to spend time or money on renovating a house or buying new appliances.

4. Accessible neighborhoods The importance of location isn’t new, but millennials tend to value living in areas that are within walking distance to their place of work. The proximity of shops and public transit are also important.

Developers, investors and anyone intending to buy or sell a home should keep these trends in mind, as they’re likely to become more influential in the coming years.

Millennials tend to value living in areas that are within walking distance to their place of work.

The proximity of shops and public transit are also important.

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Top tips for longdistance house hunters

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Buying a house from afar can be challenging. Here are four tips to make the process a little easier.

1. Clarify your needs

First and foremost, you need to establish your priorities and your non-negotiables. Are you willing to renovate? What’s your budget? How important are schools?

This will help you narrow down your options and thereby save you time.

2. Go online

Your first step should be to find out as much as possible about the neighborhoods you’re considering. What are commute times like? Are there issues with crime rates?

How good are the schools? Don’t limit your search to factors that affect you directly: a house in a great area has more resale value.

3. Get someone on the ground

The internet is helpful, but you’ll need someone on the ground to really get a sense of what your options are. Spend time finding a good realtor, especially one that’s familiar with the area and who’ll take the time to communicate with you and answer your questions.

4. Plan to travel

It’s a good idea to spend a few days visiting houses on your short list. Give yourself enough time to see each one without rushing.

Long-distance house hunting isn’t easy. However, with the help of a good realtor, you’ll be able to find a great home that meets your needs.

November 2019

Historic Gilbertsville Gem!

Expansive Center Hall Farmhouse With Endless Possibilities!

Settle into this beautiful piece of history located in the idyllic Village of Gilbertsville.

Already an historic landmark, this home is one of the earliest structures from the settlement of this quaint hamlet. The wood structure dates back to 1795 while the handsome stone extension was added c1830. This home has been Lovingly cared for and updated by the same family for two generations. The exposed beams and rich wood molding in the family room surround you in solid warmth. While the updated kitchen and cabinets offer you the amenities for everyday living. One spacious full bath downstairs, and a convenient half bath is located on the second level. The open living/dining space is bathed in blue-glass light from the original front windows.

The wide plank wood floors run throughout and lead to three bedrooms upstairs.

The master has a lofted ceiling making an open yet cozy space to retire. A hand hewn back staircase leads to the family room while keeping the air circulating from the two wood stoves in the house. All of the other windows in the home have been replaced w/ energy saving Thermopanes and the home has been fully insulated.

Enjoy the three season room off of the family room w/ views of the pool, hot tub and open green pastures. Lovely perennial beds surround the house and backyard w/ plenty of room for your vegetable garden or even a hen house! The large heated two car garage has room for your workshop. Only steps to town and minutes to Oneonta, Cooperstown and Norwich. This truly special home checks all the boxes for the most discerning home buyer. Make it yours!

Enjoy this beautiful setting nestled on a hill in the Butternut Valley. This has been home for the same family for three generations. It is now ready for a new family to make it their own. Enjoy the shaded lawn on the screened porch or the large double living room for holiday get-togethers. Wide wood plank floors throughout and spacious bedrooms and closets make this ideal for the growing family. The adjacent acreage was used as farmland so it is ready for use as a pasture or planting. It is very easy to picture bucolic living when you visit this serene setting. Roll up your sleeves and show it some love to make this a truly special home.

361 County Highway 8, Gilbertsville, NY 13776 • Otsego Listing # 123845 • $222,000

32 Vale St, Gilbertsville, NY 13776 • Otsego Listing # 120345 • $163,900

Tastefully Restored Picture Perfect Farmhouse And Equestrian Estate.

This beautiful four bedroom classic sits on over three acres just at the edge of the quaint village of Gilbertsville. Large living areas and four ample bedrooms make this the perfect family home or weekend retreat from the city. A wood stove and pellet stove along with two sun porches warm and brighten even the longest winters. several swimming areas and water access for your canoes or kayaks make this an adventurers delight! Take in the views from your hammock or sit creekside by the campfire. Come enjoy the peaceful life of the Butternut Valley. 20 minutes from Oneonta, and 35 minutes from Cooperstown. This home is also being offered with a smaller parcel for 169,000. See listing: 123392

This 3 BD, 3BA home has been transformed into a fully updated Country Classic.

Rebuilt from the ground up, the pictures and quality speak for themselves. Warm wood surrounds you on the ceilings and floors in most all of the living space creating a cozy atmosphere that is beyond inviting. The rebuilt fireplace in the living room houses a wood stove for those cold winter nights and the enormous Chef ’s Kitchen with Oak Floors, Granite Countertops, Pantry and Top of the Line Appliances is where the heart of this home truly beats. A Full Bath downstairs and ample laundry leads to a spotless basement w/ all new mechanicals. 3 beautiful BDs upstairs and full guest bath. The Master Suite has vaulted ceilings and the Master Bath has a separate Jetted Soaking Tub, large tiled shower and a huge walk-in closet. Central air-conditioning keeps you cool during Summer months or take in the breeze off the pond on the spacious Front Porch. Two barns, one w/ stables and hayloft, will house your horses, while the twelve-thousand-square-foot Riding Ring provides yearround training accessibility on perfectly graded and compacted bluestone ready for the footing of your choice. These two parcels, comprising 190.58 acres, are part of the Otsego Land Trust Land Preservation Easement, which allows tax credits up to $5,000 along with preserving the land for years to come. There are TWO OTHER PARCELS being OFFERED FOR SALE, with this property; MLS #’s 120177, 120171 totaling 143.51 acres. They both border General Jacob Morris State Forest. This makes the ENTIRE PROPERTY 334.09 acres including home and all outbuildings with an asking price of $650,000. This is one of the finest offerings in the Butternut Valley. Do not let it pass you by!

203 County Highway 8, Gilbertsville, NY 13776 • Otsego Listing # 123390 • $189,000

310 Dimmock Hollow Rd, Morris, NY 13808 • Otsego Listing # 122624 • $499,000

Historic Gilbertsville Waterfront Home On The Butternut Creek.

Jonathan Dokuchitz

NYS LICENSED REAL ESTATE SALESPERSON, PSA 646-320-7715 jonadok9@gmail.com

Bedroom decorating tips to help you get more

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any people suffer from the occasional bout of insomnia. However, if this happens to you more often than you’d like, making a few tweaks to your bedroom may be the solution. Here’s what you should do.

Get the right bed

Resting on a comfortable mattress makes it easier to fall and stay asleep every night. Choosing the right one, however, can be tricky.

The best thing to do is find a store with a good return policy so you can sleep on the mattress for at least a month before you decide if it’s a good fit.

Your bedding can also make a difference. Choose soft linens made of natural materials and comfortable pillows.

Make it a relaxing space

Decorate your bedroom with soothing colors, round shapes, soft textures and cozy or airy fabrics.

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Z’s

Many sleep experts also recommend keeping your bedroom clutter-free and clean. A disorganized space can stress you out, while a dusty and dirty room can aggravate allergies and make it harder to sleep.

Also, it’s a good idea to install blackout curtains to make the room as dark as possible when it’s time to sleep.

Keep technology out

It may be tempting to keep a television in your bedroom, but the light from the screen can trick your body into thinking it’s not tired. The same goes for your smartphone and even digital clocks.

For a restful sleep, keep your room free of light-emitting technology. If you need to unwind before bed, read a book or write in a journal instead.

One last tip: consider lowering the thermostat. Cool rooms help you fall asleep quicker and encourage deeper slumber.

Which renovations are worth an investment?

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he cost of remodeling a home is easier to stomach For those considering more expensive renovations, when homeowners can expect to recoup a sizable keep these figures in mind, courtesy of Forbes. percentage of the costs of the renovation. While • A major remodel of a 200-square-foot kitchen can basing renovations on their potential impact on resale cost around $113,000, with homeowners recouping 60 value may be unwise, return on investment is something percent. homeowners must consider when mulling renovation • Replacing 1,250-square feet of siding with new fiber projects. siding can cost $13,000, but homeowners can expect to Many homeowners wonder which renovations will resrecoup 80 percent of that cost at resale. onate most strongly with potential buyers when a home • Replacing 10 existing double-hung windows with viis put up for sale. According to Remodeling magazine, nyl low-e glass windows is valued at $14,000, and the homeowners are less likely to recoup their investment in return can be between 68 and 73 percent. a major kitchen or There are even renbathroom remodel ovations that seem than they would with like good ideas but basic home maintecan actually hurt nance, such as new the resale value of a siding. That’s because home. MSN Money buyers are most inlists these projects as terested in how the money-wasters for bones of the house those who want to – or those elements sell soon. that keep the house • Lavish lighting protected and can be fixtures can look costly to fix – were dated in a few years maintained. when trends change.

Each year Remod• Wallpaper or texeling magazine issues tured walls can be its “Cost vs. Value notoriously hard to Report,” which highchange, and buyers know that. lights the projects Neutral renovations are better if resale is the goal. that offer the most • Kitschy renovareturn on investment. In 2016, the No. 1 project was tions, such as 1950s diner tiles, may appeal to only a sethe installation of fiberglass attic insulation, which could lect number of people. Neutral renovations are better if produce 116.9 percent recouped cost and a resale value resale is the goal. of $1,482. Rounding out the top five were manufactured • Many real estate experts warn against converting a stone veneer for the exterior, a standard new garage door, bedroom into anything other than a bedroom – even a steel entry door, and an upscale garage door. for the purposes of a home office. Such conversions can immediately devalue the property. The same can be said Projects with the least return on investment tended to about combining two small bedrooms into one larger be more expensive undertakings that offered returns of space. roughly 57 percent. Such projects included bathroom additions, upscale bathroom additions, upscale master suite Homeowners should investigate potential renovations additions, upscale bathroom remodels, and deck addibefore committing the time and money to something that tions. may offer little value at resale.

RENOVATION MONEY-WASTERS: 4 Lavish Lighting Fixtures 4 Wallpaper or Textured Walls 4 Kitschy Renovations EVERYTHING HOME

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Even a windowless room can be light and airy.

How to make a windowless room

seem brighter

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hether it’s a powder room, a basement or an office, a room with no windows can be dark and hard to decorate.

Here are a few tips to help you brighten your windowless room.

Play with lighting. Install overhead pot lights evenly across the whole ceiling. Set up a few table or standing lamps for times you don’t want all the lights on.

Use the right colors. Opting for 12

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pastels or light neutrals will give the room an airy, open feel. Stick with a simple color scheme and avoid contrasting shades.

Hang a mirror or two. Mirrors reflect light, making the space seem brighter and bigger. Metallic, glass and other reflective surfaces have the same effect.

Keep it simple. To keep the space feeling open and light, choose streamlined furniture and avoid filling the

room with too many decorations.

Install interior windows. If possible, replace a door or wall between two rooms with a frosted glass window or door. This will allow light from the adjoining room into your windowless space.

Even a windowless room can be light and airy. Follow these tips to make it a space you’ll love to spend time in.

4 things reality TV gets wrong about real estate Reality television shows featuring luxurious estates, perfectly staged rooms, exciting bidding wars and the buyer living happily ever after may inspire you to shop for your own dream home. However, these programs misrepresent real estate transactions in a number of ways. Here’s four of them.

1. You’ll find your dream home quickly

Some realtors are reporting that their clients are increasingly impatient when house hunting. Real estate television shows often limit themselves to three viewings. In reality, finding your dream home may mean looking at upwards of 20 different properties and may take more than a year.

2. You can afford your dream home

Many home improvement and real estate shows are filmed in areas with low property values and labor costs. Homebuyers are often shocked when they realize how much it’ll cost to buy or remodel a home.

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3. Everything should be perfect These reality shows create very high expectations on the part of prospective buyers, with many of them approaching sellers with a long list of deal breakers. Doing this is a good way to lose a bidding war or otherwise pass on a wonderful home.

4. Fixing up a house is easy

Keep in mind that television programs featuring fixer-uppers don’t show you the process of securing permits and hiring contractors. This can take months, and people often underestimate just how long, and how expensive, fixing up a house can be.

When trying to navigate the real estate market, unrealistic expectations can lead you astray. This is why working with a reliable realtor is so important, as they can help you articulate your needs, manage your expectations and find a home you’ll be proud to call your own.

The power of the sun runs the world.

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Reasons to live in your new home

before renovating it I

f you’ve recently bought a fixer-upper, you may be eager to start renovating right away. However, while basic plumbing and electric upgrades should be made as soon as possible, here’s why you may want to hold off on any non-essential improvements.

1. You could change your mind

Your decision to remodel should be informed by day-today experience. This is because living in your new house is likely to provide you with additional information about it, thereby altering some or all of your original plans.

2. You should take a break

Starting a renovation project involves hiring contractors, securing permits, choosing materials and more. Plus, some projects can take over a year to complete.

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Given that buying a home can be as demanding as a part-time job, it may be better to give yourself time to recuperate your energy before you make any upgrades.

3. You should plan carefully As you continue to live in your new home, you’re bound to discover additional things that need work. It often makes more financial sense to complete a large number of renovations at once rather than working through them one by one.

Taking the time to live in your new home before upgrading it will help you make better choices, save you money and allow you to better plan your renovation projects.

Being flexible with your down payment could pay off. It’s a matter of considering the market, your future plans and your current needs.

3 times you don’t need a 20% down payment Saving up for a 20 percent down payment, while preferred, isn’t always the best strategy for buying a home.

Here are three times you shouldn’t bother with it.

1. Prices are going up fast. You’re interested in a house selling for $500,000, but you only have $50,000 saved up. You can wait until you’ve saved the full 20 percent or buy now and pay insurance on the mortgage. The problem is that if prices go up, that 20 percent down payment will also increase. In these cases, it may be more advantageous to buy now.

2. You need the cash. Sometimes a problem with the house only becomes apparent after the purchase is finalized. Or, you may have planned to make some repairs or update the appliances. In such cases, putting down less than 20 per cent lets you deal with these expenses instead of having to take out an additional loan.

3. You don’t want to wait. If you’re starting a family, it may be worth it to pay insurance on your mortgage to ensure that you don’t miss out on a great home.

Being flexible with your down payment could pay off.

It’s a matter of considering the market, your future plans and your current needs.

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Is home staging worth the money?

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taging involves altering the look of your home to make it more attractive to potential buyers. Is it worth paying for? The short answer is, it depends.

How much does it cost?

The extent of the staging will largely determine how much it costs. A minimal staging involving a deep clean and a fresh coat of paint will be less expensive than one involving renting chic furniture and installing new light fixtures.

What are the advantages?

A 2017 report by the National Association of Realtors cites that 29 percent of seller’s agents believe that home staging can increase the dollar value of a home by one to five percent.

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Staging can also prevent sellers from having to accept lowball offers or drop their asking price. Realtors may insist that the price of staging a home is offset by the (potentially) gained profits, but this strongly depends on a number of hard-to-predict factors such as how strong the market is. There’s no universal rule that can be applied in every scenario.

What’s the bottom line?

How effective staging is varies from case to case. The most important thing to do is have an open discussion about it so that you can define your budget, timeline and expectations.

Finally, remember that anyone can call themselves a home stager. If you decide to stage your home, make sure to check the stager or staging firm’s references.

3 tips for downsizing in a hot market It’s common for seniors living in up-and-coming areas to be solicited by realtors and potential buyers interested in their homes. A hot real estate market can be a boon if you’re looking to downsize, but it can also attract predatory buyers and lowball offers.

Here’s how to get the most out of this opportunity, especially if you’ve been off the market for a while.

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1. Hire a good realtor. Interview three or

more and check their references. Ask questions about their experience with selling properties like yours, their general approach to closing on sales and what you can expect in terms of communication. You should also ensure that the realtor you hire is a registered member of the relevant professional organization in your area.

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2. Get a market analysis. It’s important that

you have a clear understanding of your home’s actual value. Your realtor should be able to provide you with a realistic estimate. You should also get a home appraiser to assess the value of the property.

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3. Make your wishes known. Just because

you’re selling doesn’t mean you need to leave everything behind. You’re perfectly within your rights to request that valuable or sentimental items, such as your vintage chandelier, be excluded from the sale.

Downsizing in a hot market can mean a quick sale, but it’s important that you work with a reliable realtor to ensure you get the most out of the deal.

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Vegan burger utilizes fall flavor When it comes to vegan diets, one common misconception is that such diets are limiting. But this is not the case at all. Thanks to increased attention and support of veganism, plenty of recipes have been developed in conjunction with vegan parameters – even ones that evoke flavors attributed to traditionally made foods.

Ideal for autumn, when pumpkins are in abundance and hearty dishes are embraced, this “Grilled Pumpkin and Black Bean Burger,” courtesy of The Vegan Society, is an easily prepared meal that’s bursting with flavor. It can be enjoyed for a weeknight dinner or as a weekend lunch or picnic classic.

Grilled Pumpkin and Black Bean Burger Serves 4

“Grilled Pumpkin and Black Bean Burger” is an easily prepared meal that’s bursting with flavor.

Autumn Recipe

1 Tablespoon oil 1/2 cup diced red onion 1/2 cup diced red pepper 3 cloves minced garlic 1 teaspoon ground cumin 1 15 ounce can black beans 1 teaspoon salt 2 minced chipotle peppers 1/4 cup sweet corn 3 Tablespoons mashed pumpkin 1 cup breadcrumbs 1/2 cup chopped pecans (optional if you are avoiding nuts)

Dice the red onion, red pepper and mince the garlic.

Heat the oil over a medium heat. Add the garlic, onion, red pepper and sweet corn then sauté for 3 minutes.

Remove from the heat and set aside.

Drain and rinse the black beans and pat dry. Place in a deep bowl. Using the back of a fork, mash about half the beans and leave the other half whole. Then add the pumpkin, cooked vegetable mixture, chipotle peppers, breadcrumbs, pecans (if using), salt, and cumin.

Mix well until all ingredients are combined to desired consistency. Note, if mixture is too dry you can add a little more pumpkin. Using hands, form into four large patties and refrigerate for a half-hour.

Heat grill to medium-high heat. Brush grill with oil then place burgers on the grill. Cook for approximately 3 to 5 minutes on each side.

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Remove and serve immediately on your favorite vegan roll. Consider alternative toppings, including roasted tomatos, caramelized onions or an avocado spread.

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