Ithaca, NY

The city of Ithaca is making moves on the commercial front, unlike many depressed towns and cities of our size. We have a lot to be thankful for. There are more than a couple things mentioned in the article cited in this post, that really get me going! Just down the street from me on Clinton and Cayuga, (adjacent to the Cayuga St. parking garage) there will be a new Fingerlakes Wine Center, and a ground level restaurant in the building that was originally slated to become Cayuga Place condos. Meanwhile, the turn of events for the condos is that they will be initally built-out as high-end green apartments and rented instead, as the developer has met up with some of the same financial challenges to getting the project funded that have besieged many of the nations largest commercial developers - leverage is harder to come by and cash is in shorter supply these days. Nonetheless, I'm thrilled about these developments because I am a DOWNTOWN resident and these changes are going to impact my own quality of life since I'll one day be strolling right by them all! Follow this link to the Ithaca Times article, with full details. If you are visiting the area, let me give you a guided tour of these commercial developments, 2010! Maybe you'll be adding one to the list in 2011, and if so, I can help you find just the right location.

Reporting from Ithaca, NY, where it is a brisk 14 degrees this morning!

Agent Santos

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...