The Albany NY housing market has remained fairly immune from the high foreclosures rates and declining prices faced by many areas of the country. This is due to a variety of factors in my opinion including the lack of speculation seen in other markets and the fairly stable state work force. Sure I have seen homeowners that are starting to take some hits on values of high end homes no question about it. However, overall the Albany market has held up far better then other areas of the country. In an article published on 1/7/09 by Forbes, Albany was named one of the top 25 strongest housing markets in the country. This basically reiterates what I have been telling my clients for months To read the story click America's 25 Strongest Housing Markets by Deborah Orr
Have questions about what is going on in the housing market? Visit me anytime at Albany New York Real Estate
I had an investor experience yesterday that I thought might serve as a good reminder to any student tenant landlords. I received a call New Year's day from a downstate investor while I was watching the Siena Saints defeat Fairfield at the Times Union center. My investor owns about 20 units rented to SUNY and St Rose students. Just about all of his tenants are home on break. However, one of his tenants stopped by his apartment on New Years day to find the heat off. For whatever reason, both boilers had shut off and the pipes were rapidly freezing. A heating guy was going to be delayed at least a day. Fortunately, I was able to get one of my kerosene heaters going and drain some of his supply lines to prevent further damage such as a cracked boiler or a basement filled with water! My investor got lucky. If the student hadn't stopped in he could have been on the hook for thousands of dollars in repair bills.
If you have student rentals be sure to check on them at least weekly during the winter break. You may just save yourself a huge headache particularly during this cold snap. Student housing is a favorite among thieves this time of year as well. Have questions or need help. Call, email, or visit me online at Albany Investment Property
As I have indicated in the past I handle a considerable amount of property that never makes it to the ranks of the local Multiple Listing Service for various reasons. The following properties are available for sale and are not listed on the multiple listing service.
400 block of Morris street,2 family student rental $2,000 in total monthly rents. New roof and siding. Separate utilities.
100 Block of Western Avenue. 3 unit student rental with $2,150 in monthly rent
Ravena store fronts and warehouse for rent from 300-600 S.f. available
6,000 of Retail space in Schenectady available for lease
200 Block of Central avenue- Mixed use building with retail on the first floor and apartments above.
If any look appeal visit me online at Albany New York Real Estate or search Free Multiple Listing service access to thousands of Albany NY homes for sale
I was driving around last week immediately after are most recent snow storm and it struck me how important a good real estate sign is. Statistically many many more homes are sold from a buyer seeing a sign then say open houses or many other marketing methods. Yet many many firms still don't bother to use decent signs. I learned this week of a local firm in business for several years that has purchased signs for the very first time! Are you kidding me? A good sign is critical to market a property. I spend literally thousands of dollars a year on signs. Below are some photos I shot simply driving around. They Show the importance of having a sign that makes it above the snow banks. Even though you can't see may agent's name on my sign rider you can clearly tell the home is for sale and see the main office number. Here is a random selection of one of my signs in front of a listing. If you have questions on marketing a home visit me online at Albany NY Real Estate
Here are some other signs I saw on the road and was able to shoot
If you look hard you can see the empty black sign frame infront of the Jeep!
Open houses have been used for decades. In Albany, they are still used routinely to market homes. The question is, "Is this the best use of an agent's time?". In most cases I think the answer is no. Open houses were an effective tool years ago before the Internet really took off. To think that a qualified, ready, able, and willing buyer is going to walk through the door of an open house and not schedule an appointment is absurd. I have seen statistics that as few as 6% of homes on a national basis are sold through open houses. So why do agents still do them religiously? I think for several reasons 1) This is the way business has always been done. 2) Open houses may not sell the home that is open but they do produce leads for agents. For many agents holding an open house may be the best source of new business they have. 3) Holding an open house makes anxious sellers think the agent is working diligently to sell the home.
Don't get me wrong if my seller's want and expect an open house I will certainly utilize them. However, I rarely hold open houses mainly due to the low number of homes sold through this method. I don't do open houses for another reason, safety. Not my safety but the safety of my sellers belongings. I have told all my sellers this year I have no control over who comes to an open house. My biggest concern in holding an open house is being able to keep an eye on everyone in the home. Recently the Greater Capital Association of Realtors has posted a warning to all agents that there are organized gangs robbing open houses. It is just too easy to have one member distract the Realtor while another rummages through drawers. I even know of one Realtor that had her own cell phone stolen this year at an open house!
The bottom line there are other methods of marketing that are more effective in marketing homes. In light of the security risks the benefits of holding an open house need to be carefully weighed.
Have questions on this post? Visit me online at Selling Albany New York Real Estate
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Albany NY realtor, Albany NY Real Estate, Albany NY homes, Albany NY Real Estate Agent Full Service Albany NY real estate brokerage and Albany real estate appraisal Http://www.clancyrealestate.com
Kevin Clancy has been providing real estate brokerage and appraisal services to the Capital District for over 18 years. He is a New York State licensed real estate broker, Insurance broker, and general certified appraiser. Kevin is a HUD approved broker and started his career specializing in the sale of HUD homes. Kevin's appraisal experience ranges from vacant land and single family homes to multi-tenant office buildings and retail centers. A graduate of Siena College with a degree in marketing, Kevin obtained an MBA from the University at Albany in the Spring of 2005. A portion of this degree requirement included an in-depth research paper on residential real estate in the Capital Region. During his career Kevin spent several years evaluating residential and commercial real estate throughout the northeast. This includes more then an estimated 10,000 residential homes in the Capital District. This is more homes than a typical Realtor will evaluate in an entire career! For a thorough evaluation of your home prior to listing, Kevin's experience speaks for itself. Kevin's past experience makes him the perfect choice to meet any of your Capital Region or Albany Area real estate sales or appraisal needs. Services include full service and discount brokerage, appraisals, property management, and general consultation services. Need a home? Search thousands of homes at Albany NY Home search or our main site at Albany NY Real Estate for appraisals visit us at Albany NY Real Estate Appraisals If you Need an Albany NY Realtor for buying a home in Albany NY or Selling a Home in Albany NY give us a call!
Remember its not about me! Its about you! Let me be your exclusive buyer representative and mention you want the free 13 month home warranty. I will provide a free home warranty on the property for 13 months after you purchase it to take the worry out of home ownership! This offer is only available for a limited time so hurry!
"Kevin Clancy is by far one of the best if not the best real estate agent
in the Capital District. He is knowledgable about the field, his website
is exceptional and he makes himself accessible to his clients.
But most importantly, Kevin has a high standard of integrity ... simply
put his integrity is not for sale. Good or bad, he will tell you what you
need to know to make an informed decision. In a competitive market such as
this one, finding an agent that gives it to you straight is hard to find.
We highly recommend his company and we always welcome the opportunity to
tell others to use his services. Thank you again Kevin for your patience,
tenancity and professionalism. It was a breath of fresh air to work with
you."
Thomas and Ingrid Williams
Troy, New York
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When I listed my property for sale with Kevin, I didn't really expect or need to sell it. I gave Kevin a "walk away" price with my minimum to let it go.
Less than 1 week after listing the property, Kevin came back with 4 different offers. This guy knows the market! All of the offers were viable, and all were well over my walk away number. He kept in touch with me along the way, but did all of the negotiating on my behalf. The house went for higher than the listing price, and almost 20% more than my original "dream" number for the house. In today's market no one could ask for more than that.
I have bought and sold numerous properties in the past, but never have I dealt with someone so attentive, helpful, and full of good advice. Kevin's experience is evident, and I am grateful for his assistance during this process. He made it easy. I highly recommend Kevin and Clancy Real Estate.
Amy P.
Rexford, NY
6/27/2008
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"While looking for our first home, my wife and I worked with a few different realtors during our search. Kevin was, without a doubt, the best realtor "Kevin is a true professional who simply gets the job done! He's a valuable asset to anyone's team." October 27, 2007 Top qualities: Great Results, Personable, High Integrity Bob Eberle, NYREIA -------------------------------------------------------------------------------- Top qualities: Great Results, Personable, High Integrity Charis Ng -------------------------------------------------------------------------------- Top qualities: Personable, Expert, High Integrity Paul Gallagher
that we encountered and the reason we chose to utilize him exclusively!
Kevin is a tireless worker, an active listener and just a true professional.
Kevin knows the real estate market and all the financial complexities that
come with buying a home (which made him a tremendous resource for us as
first-time/inexperienced buyers).
If we are in need of his professional expertise, we will certainly use Kevin
again and we highly recommend him without reservation."
Tom and Denise D, Clifton Park, NY
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hired Kevin as a Real Estate Agent in 2006, and hired Kevin more than once
"I highly recommend Kevin. I listed a house with him and he brought me 3 offers within the first 2 weeks. He keeps me updated frequently and is a full-service expert in his field. He also recommended an excellent lawyer for the closing. I am very pleased and satisfied with Kevin and will definitely use him again for any future real estate transactions. Kevin Clancy is the owner of Clancy Real Estate. Alway deal with the owner! Thanks again, Kevin for helping me sell that property so quickly." October 23, 2007
hired Kevin as a Real Estate Agent in 2007
"Kevin has always offered me great advice. He knows value and where to find it. Kevin is an agent who understands how to work with investors... which I rarely find." September 30, 2007
hired Kevin as a Real Estate Agent in 2006
"Kevin made the process easy, and his knowledge and experience greatly helped us through the sale, from listing to contract to closing. In fact, his negotiations specifically resulted in a sale price higher than the listing price. We recommend Kevin to anyone looking to sell a home in the Capital District."
Jim M.- Director of a Commercial Real Estate funding company
"... Kevin has a great understanding of the market and more importantly how to position his clients. Great service, a professional approach and an intimate understanding of the local RE market. I highly recommend his firm."
Dear Kevin, As a first time home buyer, I really appreciated your patience and diligence. Through every step of the process I felt like you were there holding my hand. You followed up with members of my purchasing team (attorney, broker, etc.) and even called to check on me while I waited for my financing to get settled and the closing date to arrive. You exhibited professionalism and did a great job representing my interests whenever a challenge developed, such that I worried very little, knowing that you were on my team. This was the first of many real estate purchases for me and I look forward to working with you in the future.
Sincerely, Michele B., Albany, NY
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