About Tompkins County, NY

You Can See Action on remax.com

Visit workingforyou.remax.com to view a live U.S. map showing remax.com activity in real time. You'll see that people from Newport, Ore., to Hollywood, Fla., are searching the site right now.

The "remax.com working for you!" application, courtesy of eNeighborhoods, presents dynamic data about where consumers are searching remax.com. Encourage your contacts and recruits to witness the power of remax.com live.

This map shows remax.com activity in real time at workingforyou.remax.com

Ithaca NY is "10 square miles surrounded by reality" if you live or work in Ithaca NY you've seen this before. It's true in many ways AND one way it is true is in the housing & economic market. Instead of going on and on about it, I'll let the evidence speak for itself...

Ithaca's growing popularity makes the housing market attractive for buyers, thus appreciating a home's value. http://www.visitithaca.com/Top-10s.html

USA today reports .."Ithaca, a small city in Upstate New York...avoided the housing bubble, and so far, it has been sheltered from much of the economic crisis." USA Today Full article here...Ithaca NY: Affordable homes...

The Ithaca Journal reports today that according to the department of assessment in Tompkins County, home values are rising and/or have risen, bucking the national trend

NY Times Reports on subprime lending...Ithaca NY has the lowest subprime mortgage lending in the entire nation (2006).

Economic report from Tompkins County Chamber of commerce: http://www.tompkinschamber.org/sitemanage/view/122

First-time home buyers in New York have an added incentive for entering the ownership market, thanks to a new tax credit equal to 20 percent of their annual mortgage interest.

The New York State Mortgage Credit Certificate, which lasts for the life of the loan, is projected to save some borrowers as much as $30,000 over the years. Eligible buyers must meet income criteria, take out a fixed-rate loan, and occupy the home as their primary residence.

Because the incentive can be used in conjunction with a federal tax credit of $8,000, which expires on Nov. 30, industry insiders believe it will sway many fence-sitters to take the plunge.

Get the whole story here

Source: Albany Times Union, Chris Churchill (08/11/09)

Looking thru a photograph I found inside a drawer I was taken by a photograph of you.... Wait that was the Jackson Browne concert at CMAC last Saturday. Sorry

Looking through the Ithaca Board Statistics I was taken by the amount of homes available under $200,000. The total number of homes for sale in the IBR today 8/6/09 is 742. Of those homes 315 are listed under $200,000. That's a lot of possibilities, granted some of those homes might need a total rehab but in a market like this, that's a sign to go shopping.

If you are a serious buyer who has their financing in check and home ownership is in your short site then you are in a terrific place. A bonus if you qualify for the $8000.00 tax credit if you close by December 1, 2009. Today's buyer is in a strong position to negotiate, and upon finding the right home and getting it at the right price you could even build equity in your home at a rapid rate.

SUPPLY -vs.-DEMAND The timeless principle. With such an increase in inventory most seller's are competing with soo many other homes. Well informed and capable home seller's know they should get their homes in the best condition they can to get the best price. Seller's are looking for buyer's to make them a reasonable offer and they are ready to sell or they wouldn‘t be on the market. Not all seller's are desperate, be careful to get the full facts on the property, it's pricing history, the time it's been on the market and who it's competition is. NOTE: Low balling works so infrequently, but when it does it gets shouted from the mountain top and everybody wants in. An irrational low ball with no justification will basically just peeve the seller, and ruin your credibility so be careful.

In the last 14 days 89 new properties came on the market with an average list price of $235,845 and a price per square foot reported at $105.46. Currently there are 216 homes under contract or sale pending at an average price of $186,636 at $105.67 per square foot. There are 742 sellers that want you to see their house today.

Call your agent and HURRY for the $8000.00 tax credit. It takes on average 60 days to close on a home. That is with everyone doing what they should do on a set timeline. Most closings are delayed by an extra two weeks to that is 74 days. The DAM is going to break here shortly so if you are a first time home buyer and this credit works for you than get out there with your agent be in contract by September 15^th to be safe. HAPPY HOUSE HUNTING.

Melissa Miller

A fan of Jackson Browne

RE/MAX In Motion

If you have been contemplating home ownership but think you should wait just a little longer - think again!!!

• Waiting for the right time can be expensive. Some buyers would have more equity today, despite falling prices, if they had bought when they were first considering it, instead of continuing to pay rent.

• Financing is fickle. Some people who were highly qualified last year can't find financing this year because the credit market has tightened or their personal financial situation now makes them an undesirable borrower.

• Interest rates are headed up. If prices decline by another 10 percent, but interest rates increase by 1 percentage point, the monthly payment will be the same.

If you've found a house that is within your price range - make an offer! Sellers are more willing to neogiate than you might think. Don't be intimidated by the real estate market. Make sure you are working with a knowledable agent that has your best interest in mind.