Lewis County Real Estate BlogRecently posted or modified blog postshttps://www.goodmorningrealty.com/blog/Copyright GoodMorningRealty.com2023-06-07T11:45:46-07:00tag:goodmorningrealty.com,2012-09-20:12842Tour de LewisOver Memorial Day weekend, riders from throught the area participated in a non-competitive Metrci Century Ride through Lewis County’s scenic Adirondack Park, Black River Valley, and Tug Hill Plateau. <br /><br />The 62 mile ride began at the Osceola Ski and Sport Resort and ended at the Oswegatchie Educational Center, with planned stops at Snow Ridge (changed to Turin FD), the Lewis County Fairgrounds and Good Ol' Wishy's in Croghan.
Over 100 riders participated in the event which included 62, 34.5 and 13.5 options to accomodate riders from all ability levels. <br /><br />Good Morning Realty was proud to be a sponsor of the event, and our staff manned the rest stop at the Lewis County Fairgrounds on Bostwick Street in Lowville.<br /><br />The race is organized by the Adirondack Foothills Cycling Club.2023-06-07T11:37:23-07:002023-06-07T11:45:46-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:12829Oops! Home Prices Didn’t Crash After AllOops! Home Prices Didn’t Crash After All
<br /><img src="https://files.keepingcurrentmatters.com/content/images/20230602/20230605-oops-home-prices-didnt-crash-after-all.png" width="600" /><br /><br />
During the fourth quarter of last year, many housing experts predicted home prices were going to crash this year. Here are a few of those forecasts:
<a href="https://www.yahoo.com/lifestyle/housing-recession-already-according-economists-150645245.html" rel="noopener noreferrer" target="_blank">Jeremy Siegel</a>, Russell E. Palmer Professor Emeritus of Finance at the Wharton School of Business:
“I expect housing prices fall 10% to 15%, and the housing prices are accelerating on the downside.”
<a href="https://twitter.com/markzandi/status/1577352297239248896?s=61&t=a3XuSbg4t99IcSH3mFbdpQ" rel="noopener noreferrer" target="_blank">Mark Zandi</a>, Chief Economist at Moody’s Analytics:
"Buckle in. Assuming rates remain near their current 6.5% and the economy skirts recession, then national house prices will fall almost 10% peak-to-trough. Most of those declines will happen sooner rather than later. And house prices will fall 20% if there is a typical recession.”
<a href="https://www.goldmansachs.com/intelligence/pages/why-home-prices-are-poised-to-fall.html" rel="noopener noreferrer" target="_blank">Goldman Sachs</a>:
“Housing is already cooling in the U.S., according to July data that was reported last week. As interest rates climb steadily higher, Goldman Sachs Research’s G-10 home price model suggests home prices will decline by around 5% to 10% from the peak in the U.S. . . . Economists at Goldman Sachs Research say there are risks that housing markets could decline more than their model suggests.”
The Bad News: It Rattled Consumer Confidence
These forecasts put doubt in the minds of many consumers about the strength of the residential real estate market. Evidence of this can be seen in the <a href="https://www.fanniemae.com/media/46031/display" rel="noopener noreferrer" target="_blank">December Consumer Confidence Survey</a> from Fannie Mae. It showed a larger percentage of Americans believed home prices would fall over the next 12 months than in any other December in the history of the survey (see graph below). That caused people to hesitate about their homebuying or selling plans as we entered the new year.
<a href="https://files.keepingcurrentmatters.com/content/images/20230602/20230605-percent-of-americans-each-december-who-thought-prices-would-go-down-over-the-next-12-months.png" rel="noopener noreferrer" target="_blank"><img src="https://files.keepingcurrentmatters.com/content/images/20230602/20230605-percent-of-americans-each-december-who-thought-prices-would-go-down-over-the-next-12-months.png" /></a>
The Good News: Home Prices Never Crashed
However, home prices didn’t come crashing down and seem to be <a href="https://www.simplifyingthemarket.com/en/2023/05/16/the-worst-home-price-declines-are-behind-us/?a=829054-cdfef645eb06a86521e738ea57ce090a" rel="noopener noreferrer" target="_blank">already rebounding</a> from the minimal depreciation experienced over the last several months. In fact - in Lewis County, average and median sale prices and sale prices per square foot increased when comparing the last 12 months with the preivious 12 months! Median sale to list ratios have remained high (97%) and median days on market for single family home sales in Lewis County has remained under 30 days! (as of the publishing of this post on 06/06/2023)
In a report just released, Goldman Sachs <a href="https://www.goldmansachs.com/intelligence/pages/as-interest-rates-climb-the-global-housing-market-is-surprisingly-stable.html" rel="noopener noreferrer" target="_blank">explained</a>:
“The global housing market seems to be stabilizing faster than expected despite months of rising mortgage rates, according to Goldman Sachs Research. House prices are defying expectations and are rising in major economies such as the U.S.,. . . ”
Those claims from Goldman Sachs were verified by the release last week of two indexes on home prices: <a href="https://www.spglobal.com/spdji/en/indices/indicators/sp-corelogic-case-shiller-us-national-home-price-nsa-index/#news-research" rel="noopener noreferrer" target="_blank">Case-Shiller</a> and the <a href="https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index.aspx" rel="noopener noreferrer" target="_blank">FHFA</a>. Here are the numbers each reported:
<a href="https://files.keepingcurrentmatters.com/content/images/20230602/20230605-percent-change-in-home-values.png" rel="noopener noreferrer" target="_blank"><img src="https://files.keepingcurrentmatters.com/content/images/20230602/20230605-percent-change-in-home-values.png" /></a>
Home values seem to have turned the corner and are headed back up.
Bottom Line
When the forecasts of significant home price depreciation were made last fall, they were made with megaphones. Mass media outlets, industry newspapers, and podcasts all broadcasted the news of an eminent crash in prices.
Now, forecasters are saying the worst is over and it wasn’t anywhere near as bad as they originally projected. However, they are whispering the news instead of using megaphones. As real estate professionals, it is our responsibility – some may say duty – to correct this narrative in the minds of the American consumer.2023-06-06T07:19:25-07:002023-06-06T07:32:11-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:11454What Are Your Goals in the Housing Market for 2023What Are Your Goals in the Housing Market This Year?
<img width="750" height="410" src="https://files.mykcm.com/2022/12/22121014/what-are-your-goals-in-the-housing-market-this-year-KCM.jpg" class="attachment-entry size-entry wp-post-image" alt="What Are Your Goals in the Housing Market This Year? | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/12/22121014/what-are-your-goals-in-the-housing-market-this-year-KCM.jpg 750w, https://files.mykcm.com/2022/12/22121014/what-are-your-goals-in-the-housing-market-this-year-KCM-600x328.jpg 600w, https://files.mykcm.com/2022/12/22121014/what-are-your-goals-in-the-housing-market-this-year-KCM-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
If buying or selling a home is part of your dreams for 2023, it’s essential for you to understand today’s housing market, define your goals, and work with industry experts to bring your homeownership vision for the new year into focus.
In the last year, <a href="https://www.simplifyingthemarket.com/2022/12/21/what-to-expect-from-the-housing-market-in-2023/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="high inflation" target="_blank" rel="noopener noreferrer">high inflation</a> had a big impact on the economy, the housing market, and likely on your wallet too. That’s why it’s critical to have a clear understanding of not just the market today, but also what you want out of it when you buy or sell a home. Danielle Hale, Chief Economist at realtor.com, <a href="https://twitter.com/RDC_Economics/status/1590722818639269889" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“The key to making a good decision in this challenging housing market is to be laser focused on what you need now and in the years ahead, so that you can stay in your home long enough that buying is a sound financial decision.”
Here are a few questions you can start thinking through as you fine tune your goals for 2023.
1. What’s Motivating You?
You’re dreaming about making a move for a reason – what is it? No matter what’s happening in the market, there are still many <a href="https://www.simplifyingthemarket.com/2022/11/25/home-sweet-home-the-emotional-benefits-of-homeownership-infographic/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="compelling reasons" target="_blank" rel="noopener noreferrer">compelling reasons</a> to buy a home today. Your needs may have changed in a way your current house can’t address, or you could be ready to step into homeownership for the first time and have a space that’s truly your own. Use what’s motivating you as a guidepost in partnership with an expert advisor to help make sure your move will give you a lasting sense of accomplishment.
2. What Does Your Next Home Look Like?
You know you want to move, but how would you describe your dream home? The available supply of <a href="https://www.simplifyingthemarket.com/2022/12/07/key-advantages-of-buying-a-home-today/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="homes for sale" target="_blank" rel="noopener noreferrer">homes for sale</a> has grown, and that could mean more options to choose from when you buy. Just be sure to keep your budget in mind and work with a trusted real estate professional to balance your <a href="https://www.simplifyingthemarket.com/2022/12/05/prioritizing-your-wants-and-needs-as-a-homebuyer-in-todays-market/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="wants and needs" target="_blank" rel="noopener noreferrer">wants and needs</a>. The better you understand what’s essential and where you can be flexible, the easier it can be to find the home that’s right for you.
3. How Ready Are You To Buy?
Getting clear on your budget and <a href="https://www.simplifyingthemarket.com/2022/12/26/financial-fundamentals-for-first-time-homebuyers/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="savings" target="_blank" rel="noopener noreferrer">savings</a> is essential before you get too far into the process. Working with a local agent and a lender early is the best way to make sure you’re in a good position to buy. This could include planning how much to save for a down payment, getting <a href="https://www.simplifyingthemarket.com/2022/10/24/pre-approval-is-a-critical-first-step-on-your-homebuying-journey/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="pre-approved" target="_blank" rel="noopener noreferrer">pre-approved</a> for a home loan, and assessing your current <a href="https://www.simplifyingthemarket.com/2022/11/29/3-ways-you-can-use-your-home-equity/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="home equity" target="_blank" rel="noopener noreferrer">home equity</a> if your move involves selling your existing house.
A Professional Will Guide You Through Every Step of the Process
Buying or selling a home is a big process that takes expertise to navigate. If that feels a bit overwhelming, you aren’t alone. According to a recent Harris Poll <a href="https://theharrispoll.com/wp-content/uploads/2022/12/State-of-Real-Estate-December-2022.pdf" title="survey" target="_blank" rel="noopener noreferrer">survey</a>, one in five respondents see a lack of information or knowledge about the homebuying process as a barrier from owning a home. Don’t let uncertainty hold you back from your goals this year. As trusted experts, Good Morning Realty can bridge that gap and give you the best advice and information about today’s market.
Bottom Line
Let’s connect to plan how your dreams for 2023 can become a reality.
2023-01-06T07:23:51-07:002023-01-06T07:30:54-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:10780Pre-Approval is an Important First StepPre-Approval Is a Critical First Step on Your Homebuying Journey
<img width="750" height="410" src="https://files.mykcm.com/2022/10/20111034/pre-approval-is-a-critical-first-step-on-your-homebuying-journey-share-KCM.png" class="attachment-entry size-entry wp-post-image" alt="Pre-Approval Is a Critical First Step on Your Homebuying Journey | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/10/20111034/pre-approval-is-a-critical-first-step-on-your-homebuying-journey-share-KCM.png 750w, https://files.mykcm.com/2022/10/20111034/pre-approval-is-a-critical-first-step-on-your-homebuying-journey-share-KCM-600x328.png 600w, https://files.mykcm.com/2022/10/20111034/pre-approval-is-a-critical-first-step-on-your-homebuying-journey-share-KCM-100x55.png 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
If you’re planning to <a href="https://www.simplifyingthemarket.com/2022/10/06/two-questions-every-homebuyer-should-ask-themselves-right-now/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="buy a home" target="_blank" rel="noopener noreferrer">buy a home</a> this year, one of the first steps on your <a href="https://www.simplifyingthemarket.com/2022/10/07/the-journey-to-buy-a-home-infographic/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="journey" target="_blank" rel="noopener noreferrer">journey</a> is getting pre-approved. Especially in today’s market when <a href="https://www.simplifyingthemarket.com/2022/10/04/the-cost-of-waiting-for-mortgage-rates-to-go-down/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="mortgage rates" target="_blank" rel="noopener noreferrer">mortgage rates</a> are higher than they were just a few months ago, getting a <a href="https://www.simplifyingthemarket.com/2022/09/16/a-crucial-first-step-mortgage-pre-approval-infographic/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="mortgage pre-approval" target="_blank" rel="noopener noreferrer">mortgage pre-approval</a> can be a game changer. Here’s why.
What Is Pre-Approval?
To better understand why pre-approval is key, it’s important to know what pre-approval is. The Mortgage Reports <a href="https://themortgagereports.com/62952/how-to-get-mortgage-preapproval-in-3-steps" title="explains" target="_blank" rel="noopener noreferrer">explains</a> it like this:
“When you’re ready to take the leap into homeownership, your first step is mortgage preapproval. . . . A mortgage preapproval is when a lender determines you’re qualified for a home loan. Your preapproval letter shows the maximum loan amount you’re approved for (your home buying budget), as well as the specific interest rate and loan term you can expect.”
As part of the pre-approval process, a lender will look at your finances to determine what they’d be willing to loan you. From there, your lender will give you a pre-approval letter to help you understand your true price range and how much money you can borrow. That can make it easier when you set out to search for homes because you’ll know your overall numbers. And with <a href="https://www.simplifyingthemarket.com/2022/10/12/four-things-that-help-determine-your-mortgage-rate/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="mortgage rates" target="_blank" rel="noopener noreferrer">mortgage rates</a> rising and impacting affordability, a solid understanding of your numbers is even more important.
Pre-Approval Can Signal You’re a Serious Buyer
Another added benefit is that pre-approval lets the seller know you’re qualified to buy their house. A recent article from realtor.com <a href="https://www.realtor.com/advice/finance/do-i-need-a-pre-approval-letter-to-make-an-offer/" title="notes" target="_blank" rel="noopener noreferrer">notes</a>:
". . . getting pre-approved can actually improve your chances of falling into the sellers’ good graces, and you’ll want to get it done as early as you possibly can in the home-buying process."
Even though <a href="https://www.simplifyingthemarket.com/2022/08/31/buyers-you-may-face-less-competition-as-bidding-wars-ease/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="bidding wars" target="_blank" rel="noopener noreferrer">bidding wars</a> are easing this year as the market shifts, preapproval is still an important part of making a strong offer. It can help a seller feel more confident because it shows you’re serious about their home and that you’re a qualified buyer.
Bottom Line
Getting pre-approved for a mortgage is critical. It helps you better understand what you can borrow and shows sellers you’re serious about purchasing their home. Connect with a local real estate professional and a trusted lender so you have the tools you need to succeed as a homebuyer in today’s market.
2022-11-02T13:18:03-07:002022-11-02T13:31:22-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:10296Buyer's Guide - Fall 2022<img src="https://assets.site-static.com/userfiles/2932/image/BuyerGuide2022Full.JPG" width="100" height="129" style="float: left;" />Are You Thinking About Buying a Home?
The process of buying a home can be overwhelming at times, but you don’t need to go through it alone.
You may be wondering if now is a good time to buy a home…or if interest rates are projected to rise or fall. The free eGuide below will answer many of your questions and likely bring up a few things you didn’t even know you should consider when buying a home.
Click the link below below to download the eGuide.
<a href="https://assets.site-static.com/userfiles/2932/file/GMRBuyerGuideFall2022.pdf">GMRBuyerGuideFall2022.pdf</a>
2022-09-15T09:59:00-07:002022-09-15T10:40:05-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:9999What Sellers Need To Know in Today's MarketWhat Sellers Need To Know in Today’s Housing Market
<img width="750" height="410" src="https://files.mykcm.com/2022/08/22152838/20220823-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="What Sellers Need To Know in Today’s Housing Market | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/08/22152838/20220823-KCM-Share.jpg 750w, https://files.mykcm.com/2022/08/22152838/20220823-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/08/22152838/20220823-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
If you’re thinking about <a href="https://www.simplifyingthemarket.com/2022/07/18/wondering-where-youll-move-if-you-sell-your-house-today/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="selling your house" target="_blank" rel="noopener noreferrer">selling your house</a>, you may have heard about the housing market slowing down in recent months. While it’s still a sellers’ market, the peak frenzy the market saw over the past two years has cooled some. If you’re asking yourself if you’ve missed your chance to sell your house and make a move, the good news is you haven’t – motivated buyers are still out there. But you do need to price your house right for today’s market. Here’s why.
As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), <a href="https://www.nar.realtor/newsroom/existing-home-sales-slid-5-4-in-june" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“Homes priced right are selling very quickly, but homes priced too high are deterring prospective buyers.”
It’s true buyer demand has slowed over the past few months as higher mortgage rates made it more expensive to buy a home. The result is fewer <a href="https://www.simplifyingthemarket.com/2022/08/10/is-the-shifting-market-a-challenge-or-an-opportunity-for-homebuyers/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="bidding wars" target="_blank" rel="noopener noreferrer">bidding wars</a> and less competition among buyers (see visual below):
<a href="https://files.mykcm.com/2022/08/22152839/20220823-MEM-Eng-1.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-104252" src="https://files.mykcm.com/2022/08/22152839/20220823-MEM-Eng-1.png" alt="What Sellers Need To Know in Today’s Housing Market | MyKCM" width="600" height="450" /></a>
But don’t forget – that’s compared to the severely overheated market we saw over the past two years. According to the latest <a href="https://cdn.nar.realtor/sites/default/files/documents/2022-07-realtors-confidence-index-08-18-2022.pdf" title="Confidence Index" target="_blank" rel="noopener noreferrer">Confidence Index</a> from NAR:
“. . . 39% of homes sold above list price, down from 51% a month ago and 50% a year ago.”
While this is a slower pace than even one month ago, serious buyers are still actively in the market, and they’re buying homes that are priced right. In fact, the Confidence Index also notes the average home is selling in just 14 days.
If you’re aiming to sell your house, be sure you’re working with your agent to price it for today’s housing market. As buyer demand softens, it’s important to understand this isn’t the same market as last year. It’s not even the same market as just a few months ago. But it is still a <a href="https://www.simplifyingthemarket.com/2022/08/04/why-its-still-a-sellers-market/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="sellers’ market" target="_blank" rel="noopener noreferrer">sellers’ market</a>.
If you’re ready to sell your house, seek the advice of a <a href="https://www.simplifyingthemarket.com/2022/07/28/a-real-estate-professional-helps-you-separate-fact-from-fiction/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="real estate professional" target="_blank" rel="noopener noreferrer">real estate professional</a>. In some cases, you’ll need to adjust your expectations accordingly to meet the market where it is today. Selma Hepp, Interim Lead, Deputy Chief Economist at CoreLogic, <a href="https://www.corelogic.com/intelligence/u-s-home-price-insights-august-2022/" title="explains" target="_blank" rel="noopener noreferrer">explains</a> what’s happening and what it means when you sell:
“Signs of a broader slowdown in the housing market are evident, . . . This is in line with our previous expectations and given the notable cooling of buyer demand due to higher mortgage rates. . . . Nevertheless, buyers still remain interested, which is keeping the market competitive — particularly for attractive homes that are properly priced.”
Bottom Line
While the housing market has cooled from its overheated frenzy, it’s still a sellers’ market. Let’s connect so you understand what’s happening with buyer demand and home prices in our local area as you get ready to enter the market.
2022-08-23T13:38:00-07:002022-08-23T13:40:29-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:9871Why It Remains a Sellers' MarketWhy It’s Still a Sellers’ Market
<img width="750" height="410" src="https://files.mykcm.com/2022/08/03124413/20220804-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Why It’s Still a Sellers’ Market | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/08/03124413/20220804-KCM-Share.jpg 750w, https://files.mykcm.com/2022/08/03124413/20220804-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/08/03124413/20220804-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
As there’s more and more talk about the <a href="https://www.simplifyingthemarket.com/2022/08/02/3-graphs-to-show-this-isnt-a-housing-bubble/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="real estate market" target="_blank" rel="noopener noreferrer">real estate market</a> cooling off from the peak frenzy it saw during the pandemic, you may be questioning what that means for your plans to <a href="https://www.simplifyingthemarket.com/2022/07/18/wondering-where-youll-move-if-you-sell-your-house-today/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="sell your house" target="_blank" rel="noopener noreferrer">sell your house</a>. If you’re thinking of making a move, you should know the market is still anything but normal.
Even though the supply of <a href="https://www.simplifyingthemarket.com/2022/06/17/more-listings-are-coming-onto-the-market-infographic/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="homes for sale" target="_blank" rel="noopener noreferrer">homes for sale</a> has been growing this year, there’s still a shortage of homes on the market. And that means conditions continue to favor sellers today. That’s because the level of <a href="https://www.simplifyingthemarket.com/2022/07/22/great-news-about-housing-inventory-infographic/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="inventory" target="_blank" rel="noopener noreferrer">inventory</a> of homes for sale can help determine if buyers or sellers are in the driver’s seat. Think of it like this:
A buyers’ market is when there are more homes for sale than buyers looking to buy. When that happens, buyers have the negotiation power because sellers are more willing to compromise so they can sell their house.
In a sellers’ market, it’s just the opposite. There are too few homes available for the number of buyers in the market and that gives the seller all the leverage. In that situation, buyers will do what they can to compete for the limited number of homes for sale.
A neutral market is when supply is balanced and there are enough homes to meet buyer demand at the current sales pace.
And for the past two years, we’ve been in a red-hot sellers’ market because inventory has been near record lows. The blue section of this graph <a href="https://www.nar.realtor/topics/existing-home-sales" title="highlights" target="_blank" rel="noopener noreferrer">highlights</a> just how far below a neutral market inventory still is today.
<a href="https://files.mykcm.com/2022/08/03124408/20220804-MEM-Eng.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-103759" src="https://files.mykcm.com/2022/08/03124408/20220804-MEM-Eng.png" alt="Why It’s Still a Sellers’ Market | MyKCM" width="600" height="450" /></a>
What Does This Mean for You?
Ed Pinto, Director of the American Enterprise Institute’s Housing Center, gives a perfect summary of what’s happening in today’s market, <a href="https://fortune.com/2022/06/26/housing-market-outlook-prices-appreciation/" title="saying" target="_blank" rel="noopener noreferrer">saying</a>:
“Overall, the best summary is that we'll move from a gangbuster sellers' market to a modest sellers' market.”
Conditions are still in your favor even though the market is cooling. If you work with an agent to price your house at market value, you’ll find success when you <a href="https://www.simplifyingthemarket.com/2022/06/30/if-youre-selling-your-house-this-summer-hiring-a-pro-is-critical/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="sell your house" target="_blank" rel="noopener noreferrer">sell your house</a> today. While buyer demand is softening due to higher mortgage rates, homes that are <a href="https://www.simplifyingthemarket.com/2022/06/06/why-you-need-an-expert-to-determine-the-right-price-for-your-house/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="priced right" target="_blank" rel="noopener noreferrer">priced right</a> are still selling fast. That means your window of opportunity to list your house hasn’t closed.
Bottom Line
Today’s housing market still favors sellers. If you’re ready to sell your house, let’s connect so you can start making your moves.
2022-08-10T11:40:00-07:002022-08-10T11:43:20-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:9396Good Morning
Good Morning!
<img src="https://assets.site-static.com/userfiles/2932/image/Blogs/MugFlowers.png" width="250" height="250" alt="Good Morning Mug with Flowers" title="Good Morning!" style="margin: 10px; float: right;" />This week at the Naturally Lewis - Shift Back to Rural: Economic Development Conference, a panel of speakers spoke about why they chose to relocate their families and businesses to Lewis County. Each talked about lifestyle and community, and how they've were overwhelmed by the kindness of our citizens.
My morning routine involves dropping my daughters off at school and getting coffee at Stewarts, before coming to the office. Over the span of those 5 or 6 blocks and 15 minutes of time, I counted 37 people that waved, nodded, or said, "hello" or "good morning". That's 37 positive interactions before my workday began.<br /><br />
We intentionally chose the name Good Morning Realty because when we answer the phone with "Good Morning...." it starts the tone of the conversation on a positive note. Taking the time today to count "hellos" and "good mornings" reinforced how truly blessed we are to call this area home and start each day with positivity.<br /><br />
Not every community is like this - try riding a subway or walking city blocks where people are conditioned to avoid making eye contact, let alone say "hello" or give smile.<br /><br />
While we may not have everything - what we do have is pretty special!
2022-06-17T12:50:00-07:002022-06-17T12:56:02-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:9361VolunteerismVolunteerism and Community Service
<img src="https://assets.site-static.com/userfiles/2932/image/Blogs/Volunteerism/doGoodSunrise.jpg" width="300" height="160" style="float: right; margin-left: 10px; margin-right: 10px;" />
At Good Morning Realty we believe that strong communities require active participation by its community members. We encourage all to "give what you can, when you can". Contributions don't always have to be financial in nature - contributions of time, skill, and participation are often needed. Volunteers are the heart of strong communities; especially small ones with fewer resources than large cities.
When you love something, it thrives - whether you're dealing with a child, a garden, a relationship or a community. Youth sports, local government, non-profits, our trail systems, etc., all fail to function without the donations of volunteers. We encourage you to look for ways to support our community. You may be surprised to find that what you get back is far more valuable than what you put in.
<img src="https://assets.site-static.com/userfiles/2932/image/Blogs/Volunteerism/Trailer.jpg" width="300" height="300" alt="Good Morning Realty Trailer Use" title="Trailer Used for Bicycle Event" style="float: left; margin-left: 10px; margin-right: 10px;" />
Practicing what we preach, in the last month our in-house sign shop has provided signage for Naturally Lewis, Double Play Community Center, the Brantingham Arts Council, and the inaugural Tour de Lewis bike ride. We've also given free use of our enclosed trailer to community groups, provided labor and tools to help clean Fort Drum's "Climb to Glory Monument" in Thompson Park and more. Our staff has served, and continues to serve, on multiple municipal boards, non-profits such as Habitat for Humanity, Lowville Youth Soccer Association, Turbine Swim Club, the Brantingham Community Association and Arts' Council, the Cream Cheese Festival and more!
There are countless ways to contribute to our community. We are grateful to those who are so generous with their time and resources, and we hope more will find inspiration to contribute "what you can, when you can". Let us know how you contribute.
2022-06-14T07:13:00-07:002022-06-14T08:42:50-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:9021Your House Could Be Closer to List-Ready than You Think!Your House Could Be Closer to List-Ready Than You Think
<img width="750" height="410" src="https://files.mykcm.com/2022/05/02122631/20220504-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Your House Could Be Closer to List-Ready Than You Think | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/05/02122631/20220504-KCM-Share.jpg 750w, https://files.mykcm.com/2022/05/02122631/20220504-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/05/02122631/20220504-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
One of the biggest concerns for a homeowner looking to sell is the time they’ll have to put in before listing their house. If that’s the case for you, you should know – your home might be closer to list-ready than you think in today’s housing market. A <a href="https://www.realtor.com/research/2022-spring-home-sellers/" title="survey" target="_blank" rel="noopener noreferrer">survey</a> of recent sellers from realtor.com finds that many were able to get their house ready in less than a month. It says:
“With many homeowners expecting a quick sale, and in many cases a lack of contingencies, the preparation process took less than a month for over 50% of home sellers this past year, with 20% completing it in less than two weeks.”
Those sellers expecting to sell quickly are following recent <a href="https://www.simplifyingthemarket.com/2022/04/28/what-you-need-to-know-about-selling-in-a-sellers-market/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="buyer trends" target="_blank" rel="noopener noreferrer">buyer trends</a>. With <a href="https://www.simplifyingthemarket.com/2022/04/13/where-are-mortgage-rates-headed/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="mortgage rates" target="_blank" rel="noopener noreferrer">mortgage rates</a> and <a href="https://www.simplifyingthemarket.com/2022/03/24/what-you-can-expect-from-the-spring-housing-market/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="home prices" target="_blank" rel="noopener noreferrer">home prices</a> rising, buyers in today’s market are serious about finding a home quickly. But with the limited number of homes for sale, there are very few <a href="https://www.simplifyingthemarket.com/2022/04/01/its-still-a-sellers-market-infographic/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="options" target="_blank" rel="noopener noreferrer">options</a> for those buyers to choose from. That means many may be willing to take on projects after they purchase.
Because of this, you may be able to focus on less time-consuming tasks before putting your house on the market. According to the survey mentioned above, some of the top things recent sellers completed before listing over the past year include <a href="https://www.simplifyingthemarket.com/2022/04/29/give-your-curb-appeal-a-boost-before-you-sell-infographic/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="landscaping" target="_blank" rel="noopener noreferrer">landscaping</a>, making minor cosmetic updates, and touching-up paint (see image below):
<a href="https://files.mykcm.com/2022/05/02122634/20220504-MEM-Eng-1.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-102020" src="https://files.mykcm.com/2022/05/02122634/20220504-MEM-Eng-1.png" alt="Your House Could Be Closer to List-Ready Than You Think | MyKCM" width="600" height="450" /></a>
A Real Estate Advisor Will Help Streamline the Process and Keep You Focused
Of course, each situation is different, and knowing what repairs or updates your house needs to stand out in your local area is critical. That’s where a trusted <a href="https://www.simplifyingthemarket.com/2022/04/12/why-a-real-estate-professional-is-key-when-selling-your-house/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="real estate professional" target="_blank" rel="noopener noreferrer">real estate professional</a> comes in. In a recent article, <a href="https://time.com/nextadvisor/mortgages/mortgage-news/sping-2022-housing-market-predictions/" title="NextAdvisor" target="_blank" rel="noopener noreferrer">NextAdvisor</a> explains:
“. . . Real estate can be hyper-local, and demand can vary from one neighborhood to the next. It’s a good idea to work with a local real estate professional to determine an ideal listing price and if any improvements or repairs need to be completed before putting your home on the market.”
Your trusted real estate advisor knows the ins and outs of the market in your specific area. They’ll help you identify the places where you should and shouldn’t spend your time and money – and that can enable you to list quickly.
Bottom Line
If you’re ready to take advantage of the incredible conditions for sellers in today’s real estate market but are worried about the time it’ll take to get your home ready, you might be closer than you think. Let’s connect so you can see what you need to do before listing your house today.
2022-05-05T11:52:00-07:002022-05-05T11:58:27-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:8951How Homeownership Can Help Shield You From InflationHow Homeownership Can Help Shield You from Inflation
<img width="750" height="410" src="https://files.mykcm.com/2022/04/25102951/20220426-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="How Homeownership Can Help Shield You from Inflation | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/04/25102951/20220426-KCM-Share.jpg 750w, https://files.mykcm.com/2022/04/25102951/20220426-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/04/25102951/20220426-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
If you’re following along with the news today, you’ve likely heard about rising inflation. You’re also likely feeling the impact in your day-to-day life as prices go up for gas, groceries, and more. These rising consumer costs can put a pinch on your wallet and make you re-evaluate any big purchases you have planned to ensure they’re still worthwhile.
If you’ve been thinking about <a href="https://www.simplifyingthemarket.com/2022/04/05/what-you-need-to-budget-for-when-buying-a-home/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="purchasing a home" target="_blank" rel="noopener noreferrer">purchasing a home</a> this year, you’re probably wondering if you should continue down that path or if it makes more sense to wait. While the answer depends on your situation, here’s how <a href="https://www.simplifyingthemarket.com/2022/04/11/using-your-tax-refund-to-achieve-your-homeownership-goals-this-year/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="homeownership" target="_blank" rel="noopener noreferrer">homeownership</a> can help you combat the rising costs that come with inflation.
Homeownership Offers Stability and Security
Investopedia <a href="https://www.investopedia.com/terms/i/inflation.asp" title="explains" target="_blank" rel="noopener noreferrer">explains</a> that during a period of high inflation, prices rise across the board. That’s true for things like food, entertainment, and other goods and services, even housing. Both <a href="https://www.simplifyingthemarket.com/2022/03/16/are-you-wondering-if-this-is-the-year-to-buy-a-home/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="rental prices" target="_blank" rel="noopener noreferrer">rental prices</a> and <a href="https://www.simplifyingthemarket.com/2022/04/07/the-future-of-home-price-appreciation-and-what-it-means-for-you/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="home prices" target="_blank" rel="noopener noreferrer">home prices</a> are on the rise. So, as a buyer, how can you protect yourself from increasing costs? The answer lies in homeownership.
Buying a home allows you to stabilize what’s typically your biggest monthly expense: your housing cost. If you get a fixed-rate mortgage on your home, you lock in your monthly payment for the duration of your loan, often 15 to 30 years. James Royal, Senior Wealth Management Reporter at Bankrate, <a href="https://www.bankrate.com/investing/inflation-hedges-to-protect-against-rising-prices/" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same.”
So even if other prices rise, your housing payment will be a reliable amount that can help keep your budget in check. If you <a href="https://www.simplifyingthemarket.com/2022/02/25/the-difference-between-renting-and-owning-infographic/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="rent" target="_blank" rel="noopener noreferrer">rent</a>, you don’t have that same benefit, and you won’t be protected from rising housing costs.
Use Home Price Appreciation to Your Benefit
While it’s true rising <a href="https://www.simplifyingthemarket.com/2022/04/20/how-to-approach-rising-mortgage-rates-as-a-buyer/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="mortgage rates" target="_blank" rel="noopener noreferrer">mortgage rates</a> and <a href="https://www.simplifyingthemarket.com/2022/03/24/what-you-can-expect-from-the-spring-housing-market/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="home prices" target="_blank" rel="noopener noreferrer">home prices</a> mean buying a house today costs more than it did a year ago, you still have an opportunity to set yourself up for a long-term win. Buying now lets you lock in at today’s rates and prices before both climb higher.
In inflationary times, it’s especially important to invest your money in an asset that traditionally holds or grows in value. The graph below shows how home price appreciation outperformed inflation in most decades going all the way back to the seventies – making homeownership a historically strong hedge against inflation (see graph below):
<a href="https://files.mykcm.com/2022/04/25102953/20220426-MEM-Eng-1.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-101920" src="https://files.mykcm.com/2022/04/25102953/20220426-MEM-Eng-1.png" alt="How Homeownership Can Help Shield You from Inflation | MyKCM" width="600" height="450" /></a>
So, what does that mean for you? Today, experts say home prices will only go up from here thanks to the ongoing imbalance in supply and demand. Once you buy a house, any <a href="https://www.simplifyingthemarket.com/2022/03/21/the-average-homeowner-gained-more-than-55k-in-equity-over-the-past-year/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="home price appreciation" target="_blank" rel="noopener noreferrer">home price appreciation</a> that does occur will be good for your <a href="https://www.simplifyingthemarket.com/2022/04/08/do-you-know-how-much-equity-you-have-in-your-home-infographic/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="equity" target="_blank" rel="noopener noreferrer">equity</a> and your <a href="https://www.simplifyingthemarket.com/2022/03/28/a-key-to-building-wealth-is-homeownership/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="net worth" target="_blank" rel="noopener noreferrer">net worth</a>. And since homes are typically assets that grow in value (even in inflationary times), you have peace of mind that history shows your <a href="https://www.simplifyingthemarket.com/2022/02/21/real-estate-voted-the-best-investment-eight-years-in-a-row/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="investment" target="_blank" rel="noopener noreferrer">investment</a> is a strong one.
Bottom Line
If you’re ready to buy a home, it may make sense to move forward with your plans despite rising inflation. If you want expert advice on your specific situation and how to time your purchase, let’s connect.
2022-04-26T06:47:00-07:002022-04-26T06:51:08-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:8420Real Estate - Top Investment ChoiceReal Estate Voted the Best Investment Eight Years in a Row
<img width="750" height="410" src="https://files.mykcm.com/2022/02/18105859/20220221-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Real Estate Voted the Best Investment Eight Years in a Row | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/02/18105859/20220221-KCM-Share.jpg 750w, https://files.mykcm.com/2022/02/18105859/20220221-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/02/18105859/20220221-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
In an annual <a href="https://news.gallup.com/poll/349607/americans-expect-home-prices-rise-divided-buying.aspx" title="Gallup" target="_blank" rel="noopener noreferrer">Gallup</a> poll, Americans chose real estate as the best long-term investment. And it’s not the first time it’s topped the list, either. Real estate has been on a winning streak for the past eight years, consistently gaining traction as the best <a href="https://www.simplifyingthemarket.com/2022/01/21/americans-choose-real-estate-as-the-best-investment-infographic/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="long-term investment">long-term investment</a> (see graph below):
<a href="https://files.mykcm.com/2022/02/18105653/20220221-MEM-ENG.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-101232" src="https://files.mykcm.com/2022/02/18105653/20220221-MEM-ENG.png" alt="Real Estate Voted the Best Investment Eight Years in a Row | MyKCM" width="600" height="450" /></a>If you’re thinking about purchasing a home this year, this poll should reassure you. Even when inflation is rising like it is today, Americans agree an investment like real estate truly shines.
Why Is Real Estate a Great Investment During Times of High Inflation?
With inflation reaching its highest level in <a href="https://www.cbsnews.com/news/consumer-prices-inflation-highest-rate-in-40-years/" title="40 years" target="_blank" rel="noopener noreferrer">40 years</a>, it’s more important than ever to understand the financial benefits of homeownership. Rising inflation means prices are increasing across the board. That includes goods, services, housing costs, and more. But when you purchase your home, you lock in your monthly housing payments, effectively shielding yourself from increasing housing payments. James Royal, Senior Wealth Management Reporter at Bankrate, <a href="https://www.bankrate.com/investing/inflation-hedges-to-protect-against-rising-prices/" title="explains" target="_blank" rel="noopener noreferrer">explains</a> it like this:
“A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same.”
If you’re a <a href="https://www.simplifyingthemarket.com/2022/01/04/avoid-the-rental-trap-in-2022/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="renter">renter</a>, you don’t have that same benefit, and you aren’t protected from increases in your housing costs, especially rising rents.
History Shows During Inflationary Periods, Home Prices Rise as Well
As a homeowner, your house is an asset that typically increases in value over time, even during inflation. That‘s because, as prices rise, the value of your home does, too. And that makes <a href="https://www.simplifyingthemarket.com/2022/01/12/two-ways-homebuyers-can-win-in-todays-market/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="buying a home">buying a home</a> a great hedge during periods of high inflation. Natalie Campisi, Advisor Staff for Forbes, <a href="https://www.forbes.com/advisor/mortgages/homebuying-can-hedge-against-inflation/" title="notes" target="_blank" rel="noopener noreferrer">notes</a>:
“Tangible assets like real estate get more valuable over time, which makes buying a home a good way to spend your money during inflationary times.”
Bottom Line
Housing truly is a strong investment, especially when inflation is high. When you lock in a mortgage payment, you’re shielded from housing cost increases, and you own an asset that typically gains value with time.
Like most markets, the Lewis County housing market has seen mild ups and downs in real estate values over the years, but the overall longerm trend consistenly trends upwards. Over the last decade, median sale prices have increased nearly 40%, according to statistics provided by the Jefferson-Lewis Board of REALTORS. Over the last two years, the supply of available homes throughout upstate NY and Lewis County has not kept up with demand, and low interest rates have increased homebuyers' purchasing power, sometimes leading to bidding wars on available properties. As construction costs continue to rise, and more "work from anywhere" buyers enter our market to enjoy the quality of life afforded on the Tug Hill, in the Adirondacks or in our Lewis County towns and villages, a solution to the housing shortage may not be seen in the near future.
If you want to better understand how buying a home could be a great investment for you, let’s connect today.
*information presented is for educational purposes, and should not be considered financial advice.
2022-02-22T10:15:00-07:002022-02-22T11:26:53-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:8373Early Buyer ActivityMore People Are Planning To Buy a Home Soon
<img width="750" height="410" src="https://files.mykcm.com/2022/02/15124458/20220216-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="More People Are Planning To Buy a Home Soon | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/02/15124458/20220216-KCM-Share.jpg 750w, https://files.mykcm.com/2022/02/15124458/20220216-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/02/15124458/20220216-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
While some homeowners may be tempted to hold off until spring to list their houses, you should know – homebuyers aren’t waiting. Demand is high today as more people are trying to beat rising <a href="https://www.simplifyingthemarket.com/2022/02/02/the-top-indicator-if-you-want-to-know-where-mortgage-rates-are-heading/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="mortgage rates">mortgage rates</a>. As a result, eager buyers are entering the market or moving their plans up so they can make their purchases as soon as possible.
The most recent <a href="https://www.conference-board.org/data/consumerconfidence.cfm" title="Consumer Confidence Survey" target="_blank" rel="noopener noreferrer">Consumer Confidence Survey</a> finds that, of those surveyed, the percentage of people planning to buy over the next six months has increased substantially since last fall (see graph below): This national trend has been seen locally in Lewis County as well with high demand noted throughout the county on the Tug Hill, in the Adirondacks and in Lowville, from Osceola to Harrisville and everywhere in between.
<a href="https://files.mykcm.com/2022/02/15124502/20220216-MEM-Eng-1.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-101175" src="https://files.mykcm.com/2022/02/15124502/20220216-MEM-Eng-1.png" alt="More People Are Planning To Buy a Home Soon | MyKCM" width="600" height="450" /></a>
As the graph shows, the number of consumers fast-tracking their plans to purchase a home has crept up over the past three months. That indicates many buyers are evaluating their strategy and realizing they should act sooner rather than later. And for homeowners planning to sell, it’s a signal that now may be the <a href="https://www.simplifyingthemarket.com/2022/02/10/want-top-dollar-for-your-house-nows-the-time-to-list-it/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="time to list">time to list</a>.
While more people are moving their plans up, others are actively putting theirs in motion. Time on the market is a great indication that homebuyers are motivated and moving quickly. According to a recent realtor.com <a href="https://news.move.com/2022-02-08-Realtor-com-R-Housing-Report-Homebuying-Competition-Kicks-Off-2022-with-the-Fastest-Moving-January-Ever" title="report" target="_blank" rel="noopener noreferrer">report</a>, the average home sold faster this January than any January on record.
Danielle Hale, Chief Economist at realtor.com, notes:
“Homes sold at a record-fast January pace, suggesting that buyers are more active than usual for this time of year.”
What Does That Mean for You?
Homebuyers are rethinking their strategies and moving their plans forward. Others are making their moves today. That means demand for your house isn’t just increasing – it’s high right now.
And because there are so <a href="https://www.simplifyingthemarket.com/2022/01/20/buyers-want-to-know-why-is-housing-supply-still-so-low/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="few homes">few homes</a> available for determined purchasers to choose from, if you’re planning to sell your house this year, doing so <a href="https://www.simplifyingthemarket.com/2022/01/05/why-waiting-to-sell-your-house-could-cost-you-a-small-fortune/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="sooner">sooner</a> means you can take advantage of high <a href="https://www.simplifyingthemarket.com/2022/01/18/sellers-dont-wait-until-spring-to-make-your-move/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="buyer demand">buyer demand</a> before more houses are listed in your neighborhood. Why is this important? Because as more houses are put up for sale, buyers will have more options. But until then, your house will be in the spotlight.
Bottom Line
With so many buyers eager to make a purchase, you could benefit by listing your house soon. To understand how strong buyer demand is in our area, let’s connect so you can start making your plans today.
2022-02-17T10:31:00-07:002022-02-17T10:39:47-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:8151Pre-Approval LettersWhy Pre-Approval Is Key for Homebuyers in 2022
<img width="750" height="410" src="https://files.mykcm.com/2022/01/21102635/20220124-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="Why Pre-Approval Is Key for Homebuyers in 2022 | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/01/21102635/20220124-KCM-Share.jpg 750w, https://files.mykcm.com/2022/01/21102635/20220124-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/01/21102635/20220124-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
You may have heard that it’s important to get <a href="https://www.simplifyingthemarket.com/2021/05/07/the-power-of-mortgage-pre-approval-infographic/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="pre-approved">pre-approved</a> for a mortgage at the beginning of the <a href="https://www.simplifyingthemarket.com/2021/11/19/your-journey-to-homeownership-infographic/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="homebuying process">homebuying process</a>, but what does that really mean, and why is it so important? Especially in today’s market, with rising <a href="https://www.simplifyingthemarket.com/2022/01/13/whats-going-to-happen-with-home-prices-this-year/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="home prices">home prices</a> and high <a href="https://www.simplifyingthemarket.com/2022/01/20/buyers-want-to-know-why-is-housing-supply-still-so-low/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="buyer competition">buyer competition</a>, it’s crucial to have a pre-approval letter prior to making an offer. Here’s why.
Being intentional and competitive are musts when buying a home this year. Pre-approval from a lender is the only way to know your true price range and how much money you can borrow for your loan. Just as important, being able to present a pre-approval letter shows sellers you’re a qualified buyer, something that can really help you land your dream home in an ultra-competitive market.
With limited housing inventory, there are many more buyers active in the market than there are sellers, and that’s creating some serious competition. According to the National Association of Realtors (NAR), homes today are receiving an average of <a href="https://www.nar.realtor/research-and-statistics/research-reports/realtors-confidence-index" title="3.8 offers" target="_blank" rel="noopener noreferrer">3.8 offers</a> for sellers to consider. As a result, bidding wars are still common. Pre-approval gives you an <a href="https://www.simplifyingthemarket.com/2021/12/28/5-tips-for-making-your-best-offer-on-a-home/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="advantage">advantage</a> if you get into a multiple-offer scenario, and these days, it’s likely you will. When a seller knows you’re qualified to buy the home, you’re in a better position to potentially win the bidding war.
Freddie Mac <a href="https://myhome.freddiemac.com/blog/homeownership/20180926_strategies_for_winning_the_bidding_war.page" title="explains" target="_blank" rel="noopener noreferrer">explains</a>:
“By having a <a href="https://myhome.freddiemac.com/blog/homeownership/20201001_get_pre_approved.page" title="pre-approval letter" target="_blank" rel="noopener noreferrer">pre-approval letter</a> from your lender, you’re telling the seller that you’re a serious buyer, and you’ve been pre-approved for a mortgage by your lender for a specific dollar amount. In a true bidding war, your offer will likely get dropped if you don’t already have one.”<br />
Every step you can take to gain an advantage as a buyer is crucial when today’s market is constantly <a href="https://www.simplifyingthemarket.com/2022/01/12/two-ways-homebuyers-can-win-in-todays-market/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="changing">changing</a>. Interest rates are rising, prices are going up, and lending institutions are regularly updating their standards. You’re going to need guidance to navigate these waters, so it’s important to have a team of professionals such as a loan officer and a trusted real estate advisor making sure you take the right steps and can show your qualifications as a buyer when you find a home to purchase.
Bottom Line
In a competitive market with low inventory, a pre-approval letter is a game-changing piece of the homebuying process. Not only does being pre-approved bring clarity to your homebuying budget, but it shows sellers how serious you are about purchasing a home.
2022-01-24T14:32:00-07:002022-01-24T14:41:08-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:8132Mortgage Rates Climbing - Now's the Time to ActWith Mortgage Rates Climbing, Now’s the Time To Act
<img width="750" height="410" src="https://files.mykcm.com/2022/01/18161955/20220119-KCM-Share.jpg" class="attachment-entry size-entry wp-post-image" alt="With Mortgage Rates Climbing, Now’s the Time To Act | MyKCM" loading="lazy" srcset="https://files.mykcm.com/2022/01/18161955/20220119-KCM-Share.jpg 750w, https://files.mykcm.com/2022/01/18161955/20220119-KCM-Share-600x328.jpg 600w, https://files.mykcm.com/2022/01/18161955/20220119-KCM-Share-100x55.jpg 100w" sizes="(max-width: 750px) 100vw, 750px" /><br /><br />
Last week, the average 30-year fixed <a href="https://www.simplifyingthemarket.com/2021/11/24/how-smart-buyers-are-approaching-rising-mortgage-rates/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="mortgage rate">mortgage rate</a> from Freddie Mac <a href="https://freddiemac.gcs-web.com/node/24636/pdf" title="jumped" target="_blank" rel="noopener noreferrer">jumped</a> from 3.22% to 3.45%. That’s the <a href="http://www.freddiemac.com/pmms/pmms_archives.html" title="highest point" target="_blank" rel="noopener noreferrer">highest point</a> it’s been in almost two years. If you’re thinking about buying a home, this news may have come as a bit of a shock. But the truth is, it wasn’t entirely unexpected. Experts have been calling for rates to rise in their 2022 projections, and the forecast is now becoming a reality. Here’s a look at the <a href="http://www.freddiemac.com/research/forecast/20211015_quarterly_economic_forecast.page" title="projections" target="_blank" rel="noopener noreferrer">projections</a> from Freddie Mac for this year:
Q1 2022: 3.4%
Q2 2022: 3.5%
Q3 2022: 3.6%
Q4 2022: 3.7%
As the numbers show, this jump in rates is in line with the expectations from Freddie Mac. And what they also indicate is that mortgage rates are projected to continue climbing throughout the year. But should you be worried about rising <a href="https://www.simplifyingthemarket.com/2021/11/08/two-graphs-that-show-why-you-shouldnt-be-upset-about-3-mortgage-rates/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="mortgage rates">mortgage rates</a>? What does that really mean for you?
As rates increase even modestly, they impact your monthly mortgage payment and overall <a href="https://www.simplifyingthemarket.com/2021/12/09/two-reasons-why-waiting-to-buy-a-home-will-cost-you/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="affordability">affordability</a>. If you’re looking to buy a home, rising mortgage rates should be an incentive to act sooner rather than later.
The good news is, even though rates are climbing, they’re still worth taking advantage of. Historical data shows that today’s rate, even at 3.45%, is still well below the average for each of the last five decades (see chart below):
<a href="https://files.mykcm.com/2022/01/18161951/20220119-MEM-Eng-1.png" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-100744" src="https://files.mykcm.com/2022/01/18161951/20220119-MEM-Eng-1.png" alt="With Mortgage Rates Climbing, Now’s the Time To Act | MyKCM" width="600" height="450" /></a>
That means you still have a great opportunity to buy now with a rate that’s better than what your loved ones may have paid in decades past. If you buy a home while rates are in the mid-3s, your monthly mortgage payment will be locked in at that rate for the life of your loan. As you can see from the chart above, a lot can change in that time frame. Buying now is a great way to protect yourself from <a href="https://www.simplifyingthemarket.com/2022/01/11/why-inflation-shouldnt-stop-you-from-buying-a-home-in-2022/?a=829054-cdfef645eb06a86521e738ea57ce090a" title="rising costs">rising costs</a> and future rate increases while also securing your payment amount for the long term.
Nadia Evangelou, Senior Economist and Director of Forecasting at the National Association of Realtors (NAR), <a href="https://www.nar.realtor/blogs/economists-outlook/instant-reaction-mortgage-rates-january-13-2022" title="says" target="_blank" rel="noopener noreferrer">says</a>:
“Mortgage rates surged in the second week of the new year. The 30-year fixed mortgage rate rose to 3.45% from 3.22% the previous week. If inflation continues to grow at the current pace, rates will move up even faster in the following months.”
Bottom Line
Mortgage rates are increasing, and they’re forecast to be even higher by the end of 2022. If you’re planning to buy this year, acting soon may be your most affordable option. Let’s connect to start the homebuying process today.
2022-01-21T10:25:00-07:002022-01-21T10:32:54-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:7977Snow Ridge - Open for 2022 Season!<img src="https://assets.site-static.com/userfiles/2932/image/Blogs/snow-ridge-trail-map.jpg" width="1001" height="471" />
Snow Ridge is Open for 2022!
With our recent return to typical Tug Hill winter temperatures, Snow Ridge has had their snowmaking guns firing away. Today marks the first day this season that Snow Ridge is open with South Slope, Ridge Runner and the Bunny Bowl open. (If you didn't get their last season - the Bunny Bowl's rope tow was replaced with a "Magic Carpet", which is so much easier to navigate with young kids and newbies!
With a little help from the weather Gods we may soon get the additional snow needed to open the remainder the of the mountain.
For the latest trail conditions check out: <a href="https://snowridge.com/trail-conditions/" title="Snow Ridge Trail Conditions">https://snowridge.com/trail-conditions/</a>.
Located at 4173 West Rd in Turin, NY, Snow Ridge has been a mainstay of winter recreation in Lewis County for over 75 years! Under new ownership in recent years, we have seen many improvements including the addition of the "Magic Carpet", a tubing hill, outdoor patio area and a revamped restaurant named Tavern 230 (formerly known as the Candlelight).
2022-01-05T06:47:00-07:002022-01-05T07:07:44-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:79522021 Year in Review2021 Year In Review
2021 was an outstanding year for Good Morning Realty, both in Real Estate and in our community. At the year's end, Good Morning Realty's agents were able to assist 104 sellers within Lewis County successfully market and sell their properties and 79 buyers successfully close on their own purchase. Both were the highest by any brokerage servicing Lewis County.
We understand that this is often one of the most stressful transactions in our clients' lives, and we work hard to make it as smooth of a process as a possible. In 2021 we added an enclosed trailer for use to our past and present customers and clients along with local charities to help with local moves. We also provide free use of a commercial carpet shampooer for past and present customers and clients. Tools like this, professional photography, floorplans, virtual tours, custom marketing pieces etc., set Good Morning Realty apart.
Carole Dunbar was named the 2021 REALTOR of the Year by the Jefferson-Lewis Board of REALTORS, which was the first time that the honoree was an agent who specializes in Lewis County. Carole was recognized, not only as the top selling agent in area in terms of total transactions, but also for her various contributions to community service in the area.
Carole Dunbar, Britt Abbey, and Jenny Law each finished in the Top 5 of agents in terms of sales volume in 2021. This represents the top 3% of all agents. Aaron Jantzi and Tim Nortz each finished in the Top 10% in sales volume as well.
Good Morning Realty was awarded the Spirit of Lewis County Award by the Lewis County Chamber of Commerce. Strongly believing in our "do Good" motto, Good Morning Realty was proud to partner with the Jefferson-Lewis Board of REALTORS and Northern New York Community Foundation in raising $2,500 for the South Lewis, Lowville, Copenhagen, Beaver River and Harrisville school districts. Good Morning Realty was proud to purchase and donate murals painted by graffiti artist Arcy for the Lewis County Fair to the Lewis County Chamber of Commerce. The four murals have since been relocated to playgrounds throughout the county for display and enjoyment. In 2021 we also provided support for the Lowville Food Pantry, Brantingham Arts Council, Lewis County Hospice, DoublePlay Community Center and local Relay for Life teams along with various snowmobile clubs, youth athletic organizations, festivals and more. For the second year in a row, we were able to support local small business with our "20 Days - 20 Giveaways" campaign, giving gift cards and gift certificates to drawing winners throughout the holiday season. We are blessed to live in such a great community, and Good Morning Realty takes great pride in being impactful within our local neighborhoods.
2022 Looking Forward
We look forward to 2022 with great anticipation. We believe that demand for Lewis County properties will continue to be strong as interest rates remain low and buyers continue to emphasize Quality of Life, which our local communities offer in spades. Good Morning Realty looks forward to providing value to our customers and clients, and we are extremely appreciative for the continued repeat business and referrals that we receive from our past clients and customers. We wish you all a blessed New Year and happily ring in 2022!
<img src="https://assets.site-static.com/userfiles/2932/image/StockImages/2022NewYear.jpg" width="2400" height="1600" alt="2022 House Keys and GMR Logo" />
2021-12-31T06:52:00-07:002021-12-31T09:23:43-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:785120 Days - 20 GiveawaysFor the 2nd consecutive year, Good Morning Realty will be showcasing local small businesses in the month of December. To encourage shopping local this holiday season, for 20 consecutive days, Good Morning Realty will give away one $50 gift certificate each day to a local merchant and member of the Lewis County Chamber of Commerce. You only need to enter once, and we will continue to add your name to the drawing each day. Daily winners will be notified by phone or email, and we will post regular updates on our Facebook page. Best of luck, and continue to support your local small businesses.
To enter click here: <a class="oajrlxb2 g5ia77u1 qu0x051f esr5mh6w e9989ue4 r7d6kgcz rq0escxv nhd2j8a9 nc684nl6 p7hjln8o kvgmc6g5 cxmmr5t8 oygrvhab hcukyx3x jb3vyjys rz4wbd8a qt6c0cv9 a8nywdso i1ao9s8h esuyzwwr f1sip0of lzcic4wl gpro0wi8 py34i1dx" href="https://l.facebook.com/l.php?u=https%3A%2F%2Fmailchi.mp%2Fb84b11431462%2F20-days-of-giveaways%3Ffbclid%3DIwAR07a_VsWVaAsVUL0fawr9ORt9txAcGGDN7JLMCZXigZbMfaonEkQmwOPj4&h=AT0rLRP40yWTep9U_hjtQikz_uMBdlqH8AzEUGO7UE8l2i4DC_Urv0iAdfzLhVcJJLlDAwr_V8HZPHQ4y1XjXNRZiIzCzJHrkwC3A72-S4rorTR-492L8zjem6knnzDD5MiH&__tn__=-UK-R&c[0]=AT0mB2L1WZyayS5ExTPJWdoH3SOQJZfP_Fy6SyO5eHOnIxEN8Y3R6QeffalStZ-uVtzoAGHENTlBBV4xephx_W5ezZ6G73BM3nPZyZqHuHpwMrSyXehukI0Y2KakWN5TkBywJPYD7Mx1r1djpC6VigVijQNXXd8WpUZE7m9-OkL463aEKICiA27DEQSmYo7TvMyZ1Ww" rel="nofollow noopener" role="link" tabindex="0" target="_blank">https://mailchi.mp/b84b11431462/20-days-of-giveaways</a>2021-12-06T13:55:00-07:002021-12-16T13:57:33-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:7850REALTOR of the YEAR - Carole DunbarGood Morning Realty is proud to annouce that Carole Dunbar, Associate Broker, was named REALTOR of the YEAR by the Jefferson-Lewis Board of REALTORS for 2021. As far as we know, this is the first time, that an agent that focuses on Lewis County has been awarded this distinction, and we are extremely proud of her.
Carole was recognized for her unparalleled work ethic and dedication to her clients and industry along with numerous contributions to her community outside of the real estate world. Previously this fall, Carole was also recognized as a Platinum Level Top Producer by the Tri-County Women’s Council of REALTORS, which is its highest honor. We are incredibly blessed to have her as part of our team, and we are extremely proud of her accomplishments!2021-12-02T13:45:00-07:002021-12-16T13:55:37-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:7855Spirit of Lewis CountyGood Morning Realty was humbled to have been recognized by the Lewis County Chamber of Commerce with the 2021 Spirit of Lewis County Award at the 3 Willows Convention Center in Lyons Falls this evening.
The Spirit of Lewis County Award recognizes outstanding effort and commitment to the Lewis County community by a business during the 2021 calendar year.
Other award winners for the evening were:
Emerging Business of the Year – West Martinsburg Mercantile<br />Innovative Business of the Year – Tug Hill Artisan Roasters<br />Community Citizenship Award – Ashley Waite
The 3 Willows Convention Center itself is a new enterprise in Lewis County, and it was outstanding. Offering both indoor and outdoor areas to eat and mingle, it is a welcomed addition and will be highly sought after for weddings and events in years to come!
2021-11-04T14:13:00-07:002021-12-16T15:23:16-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:7854Fair Murals
This year at the 200th <a class="oajrlxb2 g5ia77u1 qu0x051f esr5mh6w e9989ue4 r7d6kgcz rq0escxv nhd2j8a9 nc684nl6 p7hjln8o kvgmc6g5 cxmmr5t8 oygrvhab hcukyx3x jb3vyjys rz4wbd8a qt6c0cv9 a8nywdso i1ao9s8h esuyzwwr f1sip0of lzcic4wl gpro0wi8 q66pz984 b1v8xokw" href="https://www.facebook.com/lewiscountyfair13367?__cft__[0]=AZVy9Jx8MTcQ9QGtLfRMkp6qG-06R9X82q_5ZJjozCQuSeu3DmbaPSPFI_7f6c5C5VLf-n6k9W5KfCNCY_FKmCt_3llXthoKytCyjGHIdz-Ept5uOqPGhMfG11Hm276YRtG5axmzeAEf5qsaWoRojZe0PdhcJScS9ECr0j9ahezO608QbRwOJ5swBMfnvMfGJsM&__tn__=-]K-R" role="link" tabindex="0">Lewis County Fair</a>, we were fortunate enough to have an extremely talented artist paint 5 murals on behalf of the Lewis County Agricultural Society. Upon the completion of the fair, the Fair Board elected to offer 4 of the murals up for auction.
Good Morning Realty is extremely pleased to announce that we were able to purchase each of the murals at auction, and we are donating all four to the <a class="oajrlxb2 g5ia77u1 qu0x051f esr5mh6w e9989ue4 r7d6kgcz rq0escxv nhd2j8a9 nc684nl6 p7hjln8o kvgmc6g5 cxmmr5t8 oygrvhab hcukyx3x jb3vyjys rz4wbd8a qt6c0cv9 a8nywdso i1ao9s8h esuyzwwr f1sip0of lzcic4wl gpro0wi8 q66pz984 b1v8xokw" href="https://www.facebook.com/lewiscountychamberofcommerce/?__cft__[0]=AZVy9Jx8MTcQ9QGtLfRMkp6qG-06R9X82q_5ZJjozCQuSeu3DmbaPSPFI_7f6c5C5VLf-n6k9W5KfCNCY_FKmCt_3llXthoKytCyjGHIdz-Ept5uOqPGhMfG11Hm276YRtG5axmzeAEf5qsaWoRojZe0PdhcJScS9ECr0j9ahezO608QbRwOJ5swBMfnvMfGJsM&__tn__=kK-R" role="link" tabindex="0">Lewis County Chamber of Commerce</a> in hopes that they can be displayed throughout the county and add a little color to our streetscapes.
We have been in contact with ARCY to discuss best practices for preservation and moving, and we hope that local residents and tourists will be able to enjoy his artwork for years to come.
2021-08-11T13:59:00-07:002021-12-16T15:01:53-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:7852doGoodThroughout our office and branding, you'll often see the phrase "do Good". We adopted this motto as a reminder that we have opportunties in everyday life to impact thos around us. We recognize that building a stronger community is a key component to both our industry and our position as a leader in the local business climate.
Simply put - the "do Good" philosphy encourages our agents, customers, clients, families and friends to become active participants in our community. It's a core principal of who Good Morning Realty is as a company, and who we are as citizens.2021-07-04T13:45:00-07:002021-12-16T14:55:59-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:6107Stillwater Fire Tower - HikeAfter showing some land in the Number Four area over the weekend, I took the opportunity to hike Stillwater Fire Tower again before the blackflies start swarming. If you haven't taken this hike before, I highly recommend it. It's a fairly easy hike and requires no technical skills.
<img src="https://assets.site-static.com/userfiles/2932/image/IMG_8263.JPG" width="294" height="220" />
Located off of the the Stillwater-Big Moose Rd, the trailhead is easy to find (approximately 2 miles from the Stillwater Rd. intersection. Parking can be limited, so don't be suprised if you need to park along the road.
<img src="https://assets.site-static.com/userfiles/2932/image/IMG_8266.JPG" width="314" height="236" />
From the parking lot, follow the blue trail markers up to the summit. By myself, the ascent took 24 minutes. With young children it can easily double.
<img src="https://assets.site-static.com/userfiles/2932/image/IMG_8267.JPG" width="318" height="423" />
Once up top you'll find the fire tower along with a picnic table if you've brought a snack or need a quick rest. The tower is open year-round, and from the top you can gather fantastic views of the western Adirondacks. Inside the tower, you'll find a table-compass which will point all of the sites in the 360 degree line of sight.
<img src="https://assets.site-static.com/userfiles/2932/image/IMG_8270.JPG" width="316" height="237" /> <img src="https://assets.site-static.com/userfiles/2932/image/IMG_8271.JPG" width="316" height="237" />
The trip back to the trailhead took me 17 minutes from the top of the tower to my vehicle, so the entire hike consisted of 41 minutes total hiking time. Round trip, it's just shy of 2 miles with an elevation gain of 534'. The trail is wide, easy to follow and suitable for all levels of hikers and four legged companions. It's equally as enjoyable as a snowshoe in the winter, and counts as part of the ADK Fire Tower Challenge. <br /><a href="https://www.adk.org/play/earn-a-patch/fire-tower-challenge/">https://www.adk.org/play/earn-a-patch/fire-tower-challenge/</a>2021-05-19T08:34:00-07:002021-05-19T09:10:48-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:5840Zero Dock St.Zero Dock St - Carthage, NY
<a href="https://www.zerodockstreet.com/" title="Zero Dock St." target="_blank">https://www.zerodockstreet.com/</a>
While out picking up signs from recently closed sales, we decided to stop in at a newly opened restaurant in Carthage that we hadn't been to before. Zero Dock St. is located on the corner of Canal St. and Dock St. in Carthage, overlooking the Black River and Turning Point Park.
<img src="https://assets.site-static.com/userfiles/2932/image/Blogs/Zero_Dock_Street/IMG_E7923-2.jpg" width="800" height="633" />
Formerly an industrial building, the two story restaurant has been fully renovated and is beautiful change of scenery. We were also pleasantly suprised to see/hear live music playing - something we haven't seen much of in the Covid-era. The first floor contains seating and a large bar area. We chose to sit on the second level which hosts a larger dining area, fireplace and access to a large outdoor patio.
<img src="https://assets.site-static.com/userfiles/2932/image/Blogs/Zero_Dock_Street/IMG_E7928-2.jpg" width="600" height="800" style="text-align: center;" />
We found that the food came out quickly, which was much appreciated by our "STARVING" and cranky children. More importantly, everything was very good, as described, and as expected. The portion sizes were large, and the overall experience was an appreciated change of pace. The service was excellent, and we will certainly come back frequently (hoping to use the outdoor patio when weather permits!). Thank you to the owners for stepping out of your comfort zone to try something new. It's a great experience and addition to the community!
<img src="https://assets.site-static.com/userfiles/2932/image/Blogs/Zero_Dock_Street/IMG_E7929-2.jpg" width="800" height="577" />
Listings for Sale Nearby:2021-04-23T06:31:00-07:002021-04-23T12:35:33-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:5773Great Time to Sell Your Vacation HomeWhy This is an Absolutely Great Time to Sell Your Vacation Home
As COVID restrictions continue to diminish and travel plans start to become "normal" again, many are planning to travel again for the first time in a year. Many are electing to buy a vacation home, which provides more stability and investment opportunities as well.
There has been a non-deniable increase in demand for vacation homes both locally and afar, with many realizing they prefer to socialize with smaller groups of family and friends rather than staying in large resorts. Not only are vacation homes seen as more pandemic-friendly, but they can also provide long term escapes from suburban and urban environments. Many buyers realize that with high-speed internet being built-out, they now have options on where and when they work. We have seen many buyers that have chosen to make Brantingham, Chase Lake, Lake Bonaparte, the Adirondacks and the Tug Hill their "home office", and it's a trend I believe will continue in the future.
Couple significant increase in demand with low inventory, low interest rates and recent gains in stock market portfolios and you have the perfect storm historically high market values for second homes. We predict that this demand will only increase as we head into summer. If you own a vacation property and would like to take advantage of today's high buyer interest, we'd love to discuss your opportunities.2021-04-15T06:46:00-07:002021-04-15T07:21:38-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:5733Gleasman Falls - HikeGleasmans Falls Hike
Total Hike: 6.6 miles<br />Ease: Moderate
Today we took advantage of the early warm weather to tackle a hike in the town of Watson. Located off of the Beach Mill Rd, is a relatively flat hike offering a beautiful woodland hike through NYS public lands. If you're into hiking for patches - this hike is part of the Adirondack Fifty Falls Challenge (https://www.digthefalls.com/).
The drive in can be a little rough, and we suggest a vehicle with higher clearance, as the road is more of a jeep trail, and it can become rutted. The trailhead parking lot can accompany approximately 10 vehicles. <img src="https://assets.site-static.com/userfiles/2932/image/brittonabbey/IMG_7741.JPG" width="4032" height="3024" />
Starting at the parking lot, you'll briefly go down hill until you come to a small bridge and your first water crossing, .
<img src="https://assets.site-static.com/userfiles/2932/image/brittonabbey/IMG_7743.JPG" width="4032" height="3024" />
Just after the bridge, you'll find the trail register.
<img src="https://assets.site-static.com/userfiles/2932/image/brittonabbey/IMG_7744.JPG" width="4032" height="3024" />
The hike is generally flat with only moderate ups and downs, The trail is well defined and well marked. At just under 3 miles, you'll come to the Independence River, with your first view of several waterfalls.
<img src="https://assets.site-static.com/userfiles/2932/image/brittonabbey/IMG_7750.JPG" width="4032" height="3024" />
As you come up your last hill, Gleasman Falls will be on your right. We chose to have lunch on the rocks immediately overlooking the falls.
<img src="https://assets.site-static.com/userfiles/2932/image/brittonabbey/IMG_7756.JPG" width="4032" height="3024" />
If you were to continue past the falls, you'll approach a long flat stretch of the Independence, offering pristine views and opportunities to get your feet wet.
<img src="https://assets.site-static.com/userfiles/2932/image/brittonabbey/IMG_7752.JPG" width="4032" height="3024" />
The entire 6.6 mile round-trip hike took our family (including a 4 year-old and 8 year-old) 3.5 hours. This inlcuded time for lunch and several "my feet hurt to much to walk" rest stops. It's definitely a rewarding hike and doable for all ages.
<br /><br />2021-04-10T17:11:00-07:002021-04-14T09:04:05-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:5250Is Getting a Home Mortgage Still Too Difficult?<img src="https://assets.site-static.com/userfiles/2932/image/getting-a-home-mortgage.jpg" alt="Is Getting a Home Mortgage Still Too Difficult?" title="Is Getting a Home Mortgage Still Too Difficult?" height="410" width="750" />
Potential homebuyers are always cautioned to be aware of mortgage lending standards and the difficulty they might face when trying to obtain a mortgage. Credit availability is expanding, making it easier to get a mortgage now than it was a year ago. The market is still tight however, and homebuyers should be prepared to shop around until they find a lender who is offering something that will meet the needs of their family.
Mortgage lending companies have high standards so it is important to make sure you and anyone else who will be included on the mortgage have their credit in check. The mortgage market is strict because lenders do not want to be put in a situation where they are forced to repurchase loans that are not paid on. They also do not want to end up in a litigation situation due to loan issues.
What Has Happened to the Number of Mortgages?
Due to the strict nature and requirements of the lending companies, the number of mortgages given out has significantly dropped. A report by the Housing Financial Policy Center at the Urban Institute showed that about 6.3 million fewer mortgages were given out between 2009 and 2015. The reasons behind this statistic are strict regulations and policies. These mortgages would have been granted if the lending standards where more reasonable.
Mortgage companies rely on calculations to determine if a home buyer will become delinquent on their payment. They will not give you a loan if you are too much of a risk for them. Credit history has a huge impact on this decision since lenders can see how often you pay back your debts. The history they receive is extensive. This view into your financial past causes lenders to take less risk when lending to you for your mortgage.
The Effect on the Economy
The housing market is recovering at a slower pace than it should since less potential homebuyers are being offered loans. While the market is still recovering with positive trends, fewer buyers can create a strain on other economic factors like home goods or construction jobs. Bottom Line
After the housing market boom and bust, mortgage lenders became stricter in their lending standards. It is not impossible to get a mortgage loan, but it can still be difficult for potential home buyers. Stay on top of your credit and make sure you and anyone else who is applying are in a good financial position so you can be approved for a loan. It is important to research different companies and their requirements to ensure success in getting a mortgage.2021-02-12T15:08:00-07:002021-02-12T15:09:48-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:5249Why You Should Consider Selling in the Winter<img src="https://assets.site-static.com/userfiles/2932/image/selling-in-the-winter-attracts-serious-buyers.jpg" alt="Selling In Winter Attracts Serious Buyers" title="Selling In Winter Attracts Serious Buyers" height="410" width="750" />
The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities.
Selling in the winter can give you a few advantages. There will be fewer houses on the market since most people assume winter is a bad time to sell. This gives your home more attention. Potential buyers are always looking no matter the time of year. Keeping your house on the market in the winter might bring the right buyer to your door. Real estate agents also tend to be less busy during these months and commit more time to getting your home sold.
Studies have shown winter buyers are buying because they need to move right away either for a relocation or personal situation. They will want to close quickly and allow for a much smoother sale.
Bottom Line
If you need to sell your home right away, or have some time but want to see what is out there, consider listing in the winter. Most homeowners who are going to sell will list their home in the spring, making for a competitive market. The winter allows buyers who are in a hurry to move consider your home and sell for more money than you would have in the spring.2021-02-12T15:08:00-07:002021-02-12T15:09:58-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:5248Common Things to Look Out for Before Buying Your Dream Home<img src="https://assets.site-static.com/userfiles/2932/image/3-questions-to-ask-before-buying-your-dream-home.jpg" alt="Common Things to Look Out for Before Buying Your Dream Home" title="Common Things to Look Out for Before Buying Your Dream Home" height="410" width="750" />
It is easy to become overwhelmed when you enter the home buying market. Friends, family, colleagues, and even acquaintances will give you their opinions if you are a first time home buyer. While most of them are looking out for your best interest, they are not fully aware of what is happening in the housing market.
It is important for you to be prepared and have your own questions ready. No matter what other opinions you are getting, you are the one buying the home and your comfort level will help make your final decision. Here are three important questions to ask before you purchase a home.
1. Why am I Buying a Home?
Regardless of the finances, it is important to think about what made you want to buy a home in the first place. Usually the reasons don’t have to do with money. Instead, home buyers are focused on how the house will impact their family in the future. A study done by the Joint Center for House Studies at Harvard found there are four reasons people buy a home. Those reasons include schools for your children, a safe environment, more room for your family to grow, and control of your own space.
These factors are the most common reasons people look to buy a new home. When you ask yourself why you are looking to purchase a home, do any of those factors come up? Spend time with your spouse or family members who are involved in this decision and determine why you want a home in the first place. Creating this list will help when searching for a home and can help your real estate agent find the best home for your needs.
2. What is the Trend with Home Values?
Our current economy and housing market is strong. That means home values and mortgage rates are increasing. If you are looking to purchase a home but want to stay within a budget, it may be in your best interest to move quickly. It is forecasted for these trends to continue in an upward motion, causing home values to continue to increase.
3. What About Current Mortgage Rates?
The ticket price is not the only thing you should be concerned with when purchasing a home. Mortgage rates are always changing and can have a huge impact on your monthly payments. Current trends show mortgage rates are rising. This is something to consider if you are debating the right time to purchase a home, since the rates may be even higher down the road.
Bottom Line
You and your family are the only ones who can determine the right time to purchase your dream home. It is important to decide exactly why you want a new home for your family and decide on a budget that will be comfortable moving forward. This budget may affect the amount of time you have to search for a home, since home prices and mortgage rates are increasing. 2021-02-12T15:08:00-07:002021-02-12T15:09:54-07:00Britt Abbeytag:goodmorningrealty.com,2012-09-20:5247Will Increasing Mortgage Rates Impact Home Prices?<img src="https://assets.site-static.com/userfiles/2932/image/mortgage-rate-projections.jpg" alt="Will Increasing Mortgage Rates Impact Home Prices? " title="Will Increasing Mortgage Rates Impact Home Prices? " height="410" width="750" />
There has been some discussion recently on home prices in relation to mortgage rates. Some believe if there is a rapid rise of mortgage rates, home prices should decrease. Logically it makes the most sense for the price of the house to drop when interest rates are rising, but this is not always the case.
This theory of home prices decreasing is typically discussed by future home buyers. As a buyer you would like to think if you are paying higher rates on your mortgage, you should be able to see a decrease in cost somewhere else. Unfortunately, these rates are rising because the economy is in better shape. As the economy succeeds, incomes rise, rates go up, as well as the price of the home.
A recent study by the John Burns Real Estate Consulting found mortgage rates have very little impact on the cost of the home. The housing market and price increases are affected by things like job growth in the area and rising wages. Coincidentally, these same factors are causing the rise in the mortgage rates since people can afford to take out more.
Bottom Line
As the economy progresses and strengthens, mortgage rates and home prices will fluctuate. It is a misconception as rates increase, home prices will decrease. Advances in the economy have shown that rates and home prices are more likely to increase together.2021-02-12T15:08:00-07:002021-02-12T15:09:51-07:00Britt Abbey