Ithaca, NY

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.

Shari Landsman, Licensed Real Estate Salesperson and EcoBroker at RE/MAX In Motion in downtown Ithaca has earned the National Association of Realtors (NAR) Green Designation.

The NAR Green Designation is a real estate designation that helps real estate professionals be an advocate for green principles in the design and use of homes and a positive force for creating sustainable communities.

The designation also provides real estate professionals with knowledge and awareness of green building principles applied in residences so that they can guide buyer-clients in purchasing and retrofitting green homes as well as help sellers by listing and marketing the green features of their properties.

Shari's knowledge and awareness of green building principles enhances her ability to help local home buyers and sellers who want to or have been thinking about going green. This is the second green designation for Shari; she earned her EcoBroker's certification last year.

To learn more about going green with real estate please visit www.greenresourcecounsil.org and to learn more about Shari Landsman, visit www.ShariLandsman.com

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

Let me preface this... I like to repeat myself so in that tradition -- Ithaca NY has a steady real estate market, and if you are in the market for real estate you should buy now! Just got word that FHA will allow first time home buyers, taking advantage of the $8000 tax credit, to use it as a down payment!

But wait there's more!

Ithaca has made the news again. USA today reports (as I have been touting all along) .."Ithaca, a small city in Upstate New York, seems like a bucolic refuge from financial woes. It avoided the housing bubble, and so far, it has been sheltered from much of the economic crisis."

Check it out...Ithaca NY: Affordable homes...

It's official - real estate season is in full swing in Upstate NY. I know I may have said it before, but it's evident now. This is the second day, in a row, that I have been in a multiple offer situation! As I'm prone to repeating myself, I'll say it again - if the property is priced right and the demand is there, it will sell. Of course it's all about location, location, location as well. The first deal fell through to a cash buyer. ("Yes, Virginia, cash buyers do still exist.")

What's that you say? All you are hearing is the doom and gloom of the national housing market? Well, I have just one question for you then -- do you listen to the national weather report to get your local weather?? Right... so talk to a local REALTOR... I digress...

A piece of advice to all the buyers out there: it IS a great time to buy in Tompkins Co NY and the surrounding counties. Everyone likes to dub it a "bubble" area. The word is so cliche; i try to avoid it. I will say, though, (without using the word bubble) that this area is in good shape when it comes to real estate. We did not see the over inflation of home prices, thus no huge dropoff in prices. PLUS, new construction in this area, only accounts for approximately 0.5% of inventory - we have two high end developements for this area - that's it! But wait there's more! Ithaca NY is #1 in the nation for lowest to no subprime lending. (We don't really like to brag, but ...) On the contrary, we did see a drop in houses for sale (inventory) in '08 compared to prior years thus less properties sold because of it.

In the past two months we have seen inventory increase and continuing to do so and prices are very competative. So, whether you are a first timer or a seasoned buyer, if you find your 'perfect' place, don't hesitate (I saw a house go under contract in 4 days -thus my buyers lost out)and please heed the advice of your knowledgable agent, don't low-ball the offer! More often than not, the house is already priced correctly. You've hired your buyer's agent for a reason, now listen to them, they are working in your best interest.

I'm in the midst of negotations on the other one. I'm sure the suspense is killing you, so I'll leave you with this...so far, so good. But, as it is well known, it's not a 'sure thing' until it's closed.

Stay tuned...