Mike Liess

Rochester NY Realty Services

Here you will find a wide variety of useful information and resources designed to help all our clients with their real estate needs. We can help you no matter what your real estate needs are, from single family residential, new construction, investment properties, multi-family homes, commercial, and management

Find information on the local community, School reports, to advice about finding a mortgage/ financing or preparing your home to sell, it's all available here.

You can also search for your ideal home by viewing current listings with detailed descriptions and photos. Or you can get help determining the value of your home by requesting a report that includes the prices of similar homes that recently sold or are currently for sale in the Rochester areas.

So whether you're buying or selling, feel free to contact me and I will be happy to help you with all your real estate needs.

Getting Started

Selling a Home?

My real estate expertise and many effective marketing programs will give you the EXPOSURE and edge you need to sell your home quickly for top dollar.

Buying a Home?

We look forward to helping you select the home of your dreams by taking time to listen to your needs and desires. We have always loved being a buyers agent. We find it very rewarding to help find a new home and negotiate great terms for my clients.

Building a Home?

If you are thinking of building a home you need representation! We will have your best interest in mind.

A Returning Client?

We appreciate the opportunity to continue to serve you and hope you take advantage of the valuable resources we provide. A large percentage of my business is returning clients and referrals. This is one of the greatest compliments we can receive, and a testimonial to the high level of services that we provide.

Relocating?

It is our personal goal to ensure that your move is totally stress free. Whether you are relocating to or from the Rochester Area, we realize this can be a stressful time. We do everything in my power to help the transition to be as smooth as possible.

Corporate Partners?

It is our job to make you look good! We fully understand the needs of our corporate partners, from REO properties and assets management to corporate relocation to loss mitigation and BPO services, the bottom line is we know what we are doing and we get you results!

Investor?:

We are dedicated to helping investors reach their goals. From the new investor just getting started, to the professional real estate investor, investment groups, and developers, our goal is to help you reach your investment goals and help you develop your portfolio and grow your business.

I consider this community an excellent place to reside and would love to share with you my enthusiasm for the many neighborhoods that encompass it. I pride myself on providing unparalleled service and look forward to developing a long-term relationship with you.

Our personal goal is to provide you with superior service at all times!

For more in formation on

SELLING YOUR HOME

BUYING A HOME

FORECLOSURES

RELOCATION

NEW CONSTRUCTION

COMMERCIAL REAL ESTATE

REO SERVICES

BPO & CMA SERVICES

PROPERTY MANAGEMENT

LEARN MORE ABOUT ME

Rochester Realty Services

Why Use a REALTOR® When Buying a Home?

A real estate agent can help you understand everything you need to know about the home buying process.

Not all real estate licensees are the same; only those who are members of the NATIONAL ASSOCIATION OF REALTORS^® are properly called REALTORS^®. They proudly display the REALTOR " ^®" trademark on their business cards and other marketing and sales literature.

REALTORS^® are committed to treat all parties to a transaction honestly. REALTORS^® subscribe to a strict Code of Ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reported that 84% of home buyers would use the same REALTOR^® again.

Real estate transactions involve one of the biggest financial investments of most people's lifetime. Transactions today usually exceed $250,000. If you had a $250,000 income tax problem, would you attempt to deal with it without the help of a certified professional accountant? If you had a $250,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be wise to work with a professional REALTOR^® when you are buying a home.

If you're still not convinced of the value of a REALTOR^®, here are more reasons to use one:

1. Your REALTOR^® can help you determine your buying power - that is, your financial reserves plus your borrowing capacity. If you give a REALTOR^® some basic information about your available savings, income and current debt, he or she can refer you to lenders best qualified to help you. Most lenders - banks and mortgage companies - offer limited choices.
2. Your REALTOR^® has many resources to assist you in your home search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.
3. Your REALTOR^® can assist you in the selection process by providing objective information about each property. Agents who are REALTORS^® have access to a variety of informational resources. REALTORS^® can provide local community information on utilities, zoning, schools, etc. There are two things you'll want to know: First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?
4. Your REALTOR^® can help you with negotiations and inspections. There are many negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or appliances. The purchase agreement should allow time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.
5. Your REALTOR^® provides due diligence during the property evaluation. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your REALTOR^® can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports.
   You will also want to see a preliminary report on the property title. Title indicates ownership of property and can be mired in confusing status of past owners or rights of access. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your REALTOR^®, title search company or attorney can help you resolve issues that might cause problems at a later date.
6. Your REALTOR^® can help you understand different financing options and identify qualified lenders.
7. Your REALTOR^® can guide you through the closing process and make sure everything flows together smoothly.

For more information please visit www.FlowerCityRealtor.com or www.MikeLiess.com for more information

To search homes for sale the Rochester NY

New York State's Mortgage Credit Certificate (MCC) Program is an alternative way for SONYMA to assist first-time homebuyers. With an MCC, 20% of your annual mortgage interest can be converted into a tax credit and deducted dollar for dollar from your Federal income tax liability. The remaining 80% of mortgage interest continues to qualify as an itemized tax deduction. The credit can be taken to reduce your tax burden every year for the life of the mortgage loan as long as you continue to live in the home. The feasibility of the MCC and the degree to which it can provide housing assistance is totally dependent upon the extent to which you have a Federal tax liability, which can be offset by the MCC tax credit.

For details, click here to read our term sheet for the program.

The benefits of an MCC to a first-time homebuyer can be significant. For example, for a mortgage of $200,000 with an interest rate of 5.5%, the mortgage interest paid in the first year is $10,933. With an MCC, 20% of interest, $2,186, can be converted to a direct tax credit, a savings of $182 per month. Note that the MCC amount will decrease slightly each year as the amount of interest paid decreases. To calculate your potential savings with an MCC, click here.

Federal law prohibits SONYMA from combining MCCs with its own mortgages. However, MCCs can be used with other fixed-rate mortgages that lenders offer, such as:

• Conventional loans (Fannie Mae/Freddie Mac);
  
• FHA-insured loans;
  
• VA-guaranteed loans; or
  
• Other fixed-rate products.

To take advantage of this program, you must file IRS Form 8396 with your Federal tax return for each year.

Mortgagor(s) receiving an MCC can also take advantage of the $8,000 Federal tax credit - which is available for loans closed by November 30, 2009.

All SONYMA Mortgage Credit Certificate Program participants must meet certain Household Income and Purchase Price limits.

• SONYMA's Purchase Price Limits.
• SONYMA's Household Income Limits.
  
• Learn about special incentives in Target Areas.

How Do I Apply?

To apply for the Mortgage Credit Certificate program you must:

• Contact one of our MCC Participating Lenders; and
  
• Apply for a Mortgage Credit Certificate at the same time you apply for a mortgage from one of our MCC participating lenders listed above.
• If you are approved for an MCC, you can take a dollar-for-dollar tax credit equal to 20% of your annual mortgage interest costs when you file your Federal income tax return.
• The remaining 80% in annual mortgage interest costs remains tax deductible.

All SONYMA Mortgage Credit Certificate Program participants are subject to the Federal Recapture Tax.

• SONYMA's Mortgage Credit Certificate Federal Recapture Tax Provisions.

This article was taken from Http://www.nyhomes.org/index.aspx?page=898

SEARCH HOMES IN THE ROCHESTER NY AREA

The Commercial Real Estate Outlook (CREO) from the NAR Research Division provides current statistics, forecasts and insights on market factors that influence office, industrial, retail, and multi-family real estate.

For the 3rd Quarter 2009 report, please visit:

http://www.realtor.org/research/research/commercialhome

Distressed properties reflect struggling market fundamentals

Commercial real estate closed the first half of the year with weakened fundamentals and a slow pace of transactions amid difficult economic conditions. Demand for commercial properties dropped precipitously, bringing down prices and rents. In addition, maturing commercial debt was met with little available credit, leading to a jump in delinquencies and distressed properties. As space flooded the market, vacancy rates have been rising across the board. And while the economic decline is showing signs of a slowdown, commercial real estate continues to face strong headwinds.

NAR FORECAST: Commercial real estate will continue to face negative absorption, increasing vacancies for all property types and declining rents. Commercial debt continues to pose a major threat. Extension of TALF funds for commercial lending should provide liquidity, particularly in the CMBS market. Investments may rise due to distressed properties and lower prices.
Additional analysis of fundamentals along with current investment trends will be posted in the following weeks. The reports will be available to all members at:

http://www.realtor.org/research/economists_outlook/commentaries

Please feel free to visit my personal website at www.FlowerCityReltor.com or www.MikeLiess.com for more information on the Rochester real estate market.

Click here to search local listings

The Irondequoit Real Estate Market is a hot market for first time home buyers.

The Irondequoit real estate market continues to be a strong market. With the relatively low price of single family homes and a shortage in quality listings under $125,000, this is a great time for seller looking to sell and capitalize on real estate in Irondequoit.

When listing a home for sale there are key factors. First the house must be price according to market and market conditions. Second your house MUST show well to the public.

For more information on Irondequoit Real Estate or information on buying or selling your home please visit www.MikeLiess.com or www.FlowerCityRealtor.com or call 585-750-8337, Homes@MikeLiess.com