You are going to be moving, be it two months or six, you will still have to prepare.  Get a jump-start on the whole process. This is also going to assist you in the selling of your home.   Remember all of those closets, cupboards and drawers you have meant to go through and organize?  Well, right now is the time to do it.  This will give prospective buyers a clean slate to look at (remember that buyers will be opening cupboards and closets) and you will be a couple of steps ahead on your future move

Start with your closets.

1. Pack up a container of items you can donate.  You know, those items that you have thought about using, but have not in over a year - get rid of them.   Donate those items to a local charity and use it as a deduction on your taxes in the following year.  Keep good records - see form 8283 for non-cash charitible donations or visit the IRS website for more information.   http://www.irs.gov

2. Pack all of your out of season items and mark accordingly.  When you arrive at your new residence, you will be able to identify, allowing you to unpack and put away in its new location.

Now the only things left in your closets will be items you currently wear and use.  And look how neat and clean everything looks!  Do the same thing with drawers and cupboards.  Dishes and utensils used for special events and holidays can all be packed away and marked.  Any item you feel you don’t need, again - donate it.  You can also receive credit for household items you donate.

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Thanks Tom for the info

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Keuka Lake is one of the 11 Finger Lakes . It is distinctive from the rest of the Finger Lakes because of its unusual Y shape.  In the past it was also called or referred to as “Crooked Lake”.  It is conveniently located a short drive South from the New York Thruway and a short distance North from State Route 17 (US86).

So lets get onto the reasons to purchase your vacation home on Keuka Lake.

• A great investment - properties on Keuka Lake have continued to appreciate even in the midst of the housing decline - Yates County has not seen the effects of the housing crisis

• Beautiful clean lake-water - lake is approximately 18 miles long attracting all types of water-sports from kayaks, fisherman and sailboats - in the winter you can find ice boats

• Mostly residential except for the three villages located on the three points of the lake which consist of Penn Yan, Branchport and Hammondsport

• Great restaurants located on and near the lake - see other posts for restaurants to visit

• Diverse property types - from cabins to luxury custom built homes - traditional to contemporary

• Lake Real Estate is more affordable than other areas of the country making it more desirable as an investment

• Increasing desirability as rentals - increasing income value

• Surrounded by rolling hillsides covered with vineyards that slope down towards the lake

• Wineries, wineries, wineries…if you enjoy a great wine, you can visit any number of the wineries in the area and find a great selection to suit even the most discriminating taste buds from Ice Wines to Dry Reds with many of the wineries boasting award winners

• Many local events, fairs, art shows, farm markets, antique shops, local artists, museums

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“Torrey Park Grill’ is my recommendation this week. The menu has a wonderful selection including many Italian dishes. The appetizer choices are mouth watering and you will enjoy the extensive wine list. This restaurant serves great food, has a friendly service staff and has the ambiance expected to enjoy a wonderful meal. If you wander in for a cocktail with friends, you will also find an extensive bar menu, and oh yes, the regular dinner menu has an offering of smaller proportions.

They are located just off N Genesee St in Geneva New York.  Visit their website for hours and phone numbers.

 http://www.torreypark.com/index.html

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When a seller decides to put their property up for sale, they usually have an idea of what they would like it listed for.  Sometimes the offering price is dictated by what neighboring properties are listed for or have sold for (comparative analysis) and this price may actually have originated from an agent.  Or the price may have come from what they feel “inside” the value should be.  Remember it is the owners “castle”, except for when it is being assessed for tax purposes.

Most buyers expect the property to be in broom clean condition, a master suite, numerous baths, an updated kitchen with modern appliances and granite counter top.  They also want newer windows and a garage as well as having the other homes fit into their expectations.  You can have all of the “wants”, but if the property is nestled amongst properties that are just fishing shacks or small seasonal cottages that do not have the up-scaled landscaping, you most likely do not have a million dollar home. Buyers want to feel they fit into their environment. They want to know that the other owners share their lifestyle values. 

Currently there are quite a few properties  in the Finger Lakes area that are being marketed in the million dollar and up price range.  Many of them fit the price and then there are some that leave you wondering how that price was derived. These owners may justify their price based on their “million dollar view”, but in the Finger Lakes there are many properties with a “million dollar view” and would never command a million dollar price.

Of course if you put together privacy, ammenities, beachfront, and distictiveness  in area with similar properties, you will command a million or more for your property in the Finger Lakes.

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• 1031 tax exchange professional
• travel - both local and long distance
• interpreters
• temporary lodging
• personal services
• shopping
• restaurants
• legal professionals

By utilizing an agent with Unique Global Estates, you know you will be receiving the service you expect and deserve when it comes to buying luxury real estate.

The Finger Lakes areas offer a great choice in luxury real estate. This could include a private residence on one of the lakes, or even something palatial just outside one of the major cities. If you are interested in purchasing a wonderful lake-view setting, there are many builders to choose from the will meet or exceed your standards to building a new residence custom built to your needs.  The two that I would recommend  are  Hough Builders and Ketmar Builders.

To view some of these homes, please visit their websites.  And if you are interested in the area, please give me a call.  I look forward to working with you.

Information brought to you by Mary St. George

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There are so many terms out there when describing design; contemporary, traditional, English garden, cottage, modern, art deco etc. etc. etc.  You can visit sites like HGTV to  get a better understanding of design elements, see samples and even take a quiz.

It is not a big deal if you don’t have the slightest clue, in fact even if you do know your design style, I have a simple tip.  Always carry a camera or use the camera on your cell phone to develop an album of the styles that “you” like.   Your style may be a combination of a few styles, and that is just fine.  This little bit of individualism will let you stand out against the “cookie cutters” Nothing can be more boring than seeing  every one’s homes all appearing to have been put together by one person.

Add this album to a collection of pictures cut out from various magazines, along with notes referencing textures, colors and materials

Now when you decide to have the front of your home landscaped, you know what you want and more importantly, so does your landscaper.  Yes, you may still have to modify your your plans a bit, but it will be done with minimum stress and you will end up with a completed project that will let you say “WOW”.

Go ahead and Feng Shui your lakefront home with a little bit of traditional modernism, dusted with a nautical waterfront theme, planted in the middle of flowery garden cottage lot.

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Jumbo Loan

A mortgage with a loanamount exceeding the conforming loan limits set by the Office of Federal Housing Enterprise Oversight (OFHEO), and therefore, not eligible to be purchased, guaranteed or securitized by Fannie Mae or Freddie Mac. OFHEO sets the conforming loan limit size on an annual basis.Also referred to as “Jumbo Mortgage“.   Jumbo loansare often securitized by institutions other than Fannie Mae or Freddie Mac. These securities carry more credit risk than those issued by Fannie Mae or Freddie Mac, and therefore, trade at a yield premium which translates into slightly higher interest rates. However, in recent years the spread in interest rates between jumbo and conventional mortgages has been reduced.

There are ways around setting the entire loan up under the Jumbo category.  First, if you have another investment property, you can sell it and transfer the capital gains into the new property utilizing the 1031 tax exchange.  This will minimize the amount of monies being borrowed against the property.  Second, you can procure a loan up to the jumbo loan limit and then secure an additional loan for the difference.  These are options that can be better explained by your loan officer.

Currently lake front properties are still appreciating and with loan rates being as low as they are, it is the perfect time to purchase your favorite spot in the Finger Lakes.

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