About Tompkins County, NY

What is buyer confidence and what does it mean? In the Ithaca market there is a bit of a conundrum. We are a local market that has and continues to experience overall stability. Yes we have experienced price corrections, increased inventory, some lower appreciation, yet all around us we hear and read. "Don't buy", "Why buy when people are losing their homes", "pricing will plummet", "There are only bogus mortgages", "trust no one".

Buyer's do not know who to listen to, or who to ask. This causes a lack of buyer confidence. The people who are normally out there buying homes are nervous and hanging back. They are online looking, seeing homes, shopping but not making buying decisions because they don't know what tomorrow will bring. This makes sellers reduce prices, offer incentives, and cater to the buyers. This is meant to increase buyer's confidence or at least get their attention. Where is the tipping point?

Who knows when pricing will shift but if you are in the market for a new home there truly is no better time to buy in this area than right now. FALL 2008!!! The properties in Tompkins, Cayuga, Tioga, Seneca, Chemung counties are ripe, sellers are considering serious offers but there will be no "firesale". We are one of the top 10 cities to live in, we have growth, we are a solid college town, we have a desirable second home market with the Finger Lakes region, we are central to many other cities, we are educated, and we atrract so many people in all age groups for so many different reasons.

The State of the Local Real Estate Market. High inventory and few buyers. For the most part homes are on the market for the normal reasons, job relocations, downsizing, upsizing, moving closer to family, some for taxes and high utility costs but it's not because of overwhelming amount of foreclosure properties, and not because of neighborhoods of new builds sitting vacant and competing with depreciating home owners who are running scared. There were not speculators buying up the market, who are now bailing. We are a normal market with tremendous opportunity.

What can you do as a buyer to get buyer confidence? Educate yourself, read and ask questions. Get qualified for a secure mortgage with a local lender. Find a local REALTOR you trust and who is experienced. Look for the ABR designation (Accredited Buyer Representatives), these agents are trained, expercienced, will advocate for their buyer clients and navigate them through the real estate process and the local inventory (every listing available including FSBOs) to find and negotiate the best possible price and terms for their buyer client.

With buyer confidence you will find your way home.

THERE is no BETTER time the BUY a HOME in our LOCAL market than TODAY.

Excellent homes at terrific prices, isn't that worth shopping for? Currently as in TODAY 8/24/08 there are 356 homes on the market under $200,000. In a market place that has not experienced a total down market like many cities across the country, we certainly are experiencing a ripple of price changes.

Of 356 homes 83 of them are under $100,000. Absolutely, some of them need quite a bit of work, some don't need much. Our market has remained strong, we are a College Town with a Lake shore, and low unemployment and FACE it's beautiful. Those fixer uppers homes can become an income tool or help you build wealth almost instantly, not without work of course. Ask your REALTOR, they know the future potential of these fixer uppers and what areas will bring you the most value. BACK to Shopping and bringing the food into YOUR OWN HOME. Melissa Miller

Sellers whose homes have not sold in the peak selling market of Spring and Summer are worried. Not enough showings, no offers and how are they going to get their homes sold. The biggest problem seems to be, as always lack of communication, between the listing agent and the sellers. Agents don't like to talk to sellers when they have no good news, no activity to report.

The sellers at today's listing appoiintment have had their home listed since February. They have made price reductions; both times they suggested the reduction to their agent. Other complaints were that the agent never made suggestions of what they could do to enhance their home through buyers' eyes. They were of course concerned that their home will not sell if they do not get buyers in to even look at the house.

The solution is simple but not simply executed. Honest, prompt and on-going communication. We can't change the market but we can try to make the selling process as "pleasant" as possible. First, sellers need reassurance. They are "hurt" that no one likes their home. They need a reality check....honest pricing and suggestons about what needs to be done to get their house sold. They even accept some of the responsibility. Perhaps they priced the house too high to start. Mostly it sounds like they were not educated about the process or the market. Education needs to be on-going.

Many sellers are ready to move on. Not just to their new life in a new community but until that happens, to a new agent. Someone who can help them move the process forward. They don't want false promises. They are more saavy about the professionals they choose. This is a great opportunity for agents to prove they are professionals and despite a soft market work with these motivated sellers to markeet the home, bring in new buyers and hopefully put up that red SOLD sign.

Beth Carlson Ganem

Lic. Real Estate Associate Broker

Audrey Edelman Realty USA

www.BethGanem.com

I could sit here and tell you all the wonderful things about the quaint village of Trumansburg and the town of Ulysses but pictures can sometimes do a better job. So if you are looking to relocate to Trumansburg NY in the heart of the Finger Lakes Wine country (nicely situated between the Cayuga lake wineries and the Seneca lake wineries) check out some of these sites...

www.trumansburgchamber.com

www.t-farms.com

www.grassroots.com

www.taughannock.com

www.trumansburg-ny.gov

www.tcsdfoundation.org

www.victorianranch.com

www.hazelnutkitchen.com

Trumansburg Real Estate

Trumansburg Golf Course

There is a new EcoBroker in the Ithaca NY area....

Shari Landsman, Licensed Real Estate Salesperson at RE/MAX In Motion in downtown Ithaca has earned the EcoBroker Certified^® designation, having successfully completed a unique and educational training program on the energy and environmental issues that affect real estate transactions.

With national surveys indicating that 80% of consumers consider themselves "green-minded," real estate professionals with the EcoBroker designation are in a better position to serve the real estate consumer.

Shari explains, "As an EcoBroker^® I now have more resources at my disposal to help my buyers and sellers make green real estate decisions. I can help you find a home that is healthier, comfortable, and cost-effective and I can promote cost-saving green features that set listings apart from the competition."

EcoBroker International's education and designation program is designed exclusively for real estate professionals who care about the environment and want to help their clients benefit from the energy-efficiency, "green," and healthier features of homes and buildings. EcoBroker provides a complete curriculum of energy and environmental training to licensed real estate agents. Real estate professionals must complete the extensive EcoBroker curriculum and training and fulfill additional program requirements to become Certified EcoBrokers^®.

RE/MAX in Motion is a full service Real Estate Brokerage that serves Tompkins, Tioga, Cayuga, Seneca, and Schuyler Counties.