Open House Cancelled!

Open House Cancelled!

The Open House scheduled for Sunday, March 17, Noon to 3 PM has been CANCELLED.  We are sorry for any inconvenience but we are pleased that the home sold in four days!!!  Full Price.  Call Linda Miller, Lic Assoc. RE Broker with any questions and for other homes in the area.  CELL/TEXT:  (315) 727-0920.

Homes for Sale Inventories Continue to Fall – February 2019

Housing Market Data for CNY

Record low inventories of available homes for sale continues through February 2019.  MLS wide (8 counties) available homes for sale have declined by 44.8% with Onondaga County coming in with a 49.4% decline.  Homes listed for under $200K have been hit particularly hard making it very difficult for first time home-buyers.  On the other hand home-sellers have benefited from the sustained shortage of available homes.  Sellers are seeing multiple offers and homes selling above asking price.  According to the February 2019 Monthly Indicators Report from the Greater Syracuse Association of REALTORS® (we are Members) the One Year Change in Median Sales Price is +9.4% (Click Here for a pdf of the GSAR complete report) with a 11.0% decrease in new listings. According to the February 2019 Local Market Update from CNYIS shows a 4.9% decline in new listings year to date (Click Here for a pdf of the CNYIS Local Market Update) with a 6.0% in average sale price.  The interactive table below shows available homes for sale month by month (simply hover over the graph lines to see individual months) for 2016-2019 for the entire MLS, Onondaga County, and Oswego County.

Considering selling or buying?  Give the Listing Company a call to explain our 10% Commission Rebate program for Sellers and Buyers.

 

Contact Us

Listing Company of CNY

NYS Licensed Real Estate Broker

Phone:  (315) 864-6001

Click Here to Email

New Listing Spruce Ridge Manlius

New Listing Spruce Ridge Manlius

Just listed! Home for Sale! 7749 Rolling Ridge Drive (MLS# S1177342) in the Spruce Ridge Community of 7749 Rolling FamRmManlius, New York.  Beautiful and fully updated former model home available in the Fayetteville-Manlius School District.  Click Here for Complete Details, Additional Photos, and Map. Listed by Linda Miller, Associate RE Broker (315) 727-0920. Listing Company of CNY

 

Housing Market Trends – Clay, Cicero, Lysander

Housing Trends-January 2019

Clay, Cicero, and Lysander $0-$199K

Inventories of “homes for sale” remain very tight in Onondaga County’s Northern Suburbs.  Good news for Sellers but not for Buyers.  In January 2019 there were 170 homes for sale in this price range, a 57% decrease from January 2014.  Of course, tightening inventories bring higher prices as buyers must compete for the best listing in the price range.  Bottom line:  If you are thinking of selling your home…this is YOUR time to get more for your home.  List with the Listing Company of CNY and get a 10% commission rebate after closing!

The tables below are interactive!  Hover over the graph lines to view monthly data points back to January of 2014.  Wondering what your home is worth right now?  ePropertyWatch™ is a independent service the Listing Company of CNY provides free of charge (for more information Click Here) simply complete the form to the right to start the service.  You can cancel at anytime and we do not share your information.

 

Markets are dynamic and home values are constantly changing. With ePropertyWatch, you’ll keep your finger on the pulse of your home’s ever changing value. After all, your home is probably your #1 asset, so we’ll help you know where you stand! With ePropertyWatch, you’ll know exactly what is happening around you. From sales to rentals to foreclosures – you’ll have your finger on the pulse of your neighborhood! Sign Up Below.

Homes under $128,999

Homes under $128,999

Homes Between $129K to $199K

Homes Between $129K to $199K

Cost vs. Value: The Home Improvement Projects With the Highest ROI in 2019

Cost vs. Value: The Home Improvement Projects With the Highest ROI in 2019

By Jameson Doris

Remodelers across the country took a hit last summer as the cost of building materials spiked dramatically, and the picture for 2019 isn’t much rosier. The percentage of return on investment (ROI) is projected to trend downward for all the replacement projects listed in Remodeling magazine’s newly-released Cost vs. Value Report.

Larger indoor remodel projects took a hit as well, but weren’t impacted as greatly as replacement projects as they rely more on labor costs rather than material costs.

“With the increasing costs of building materials and labor, we urge remodelers to think like real estate professionals first,” says Clayton DeKorne, editor-in-chief of Remodeling magazine. “When you adjust your focus to think like a broker first, you can dull clients’ No. 1 pain point—cost—with a discussion of the amount that can be recouped.”

Nationally, here are the five projects with the greatest ROI in the report’s mid-range cost category:

Manufactured Stone Veneer (94.9% ROI)

  • Average Cost: $8,907
  • Average Resale Value: $8,449

Minor Kitchen Remodel (80.5% ROI)

  • Average Cost: $22,507
  • Average Resale Value: $18,123

Deck Addition (Wood) (75.6% ROI)

  • Average Cost: $13,333
  • Average Resale Value: $10,083

Siding Replacement (75.6% ROI)

  • Average Cost: $16,036
  • Average Resale Value: $12,119

Entry Door Replacement (Steel) (74.9% ROI)

  • Average Cost: $1,826
  • Average Resale Value: $1,368

And the five projects with the greatest ROI in the report’s upscale cost category are:

Garage Door Replacement (97.5% ROI)

  • Average Cost: $3,611
  • Average Resale Value: $3,520

Window Replacement (Vinyl) (73.4% ROI)

  • Average Cost: $16,802
  • Average Resale Value: $12,332

Grand Entrance (Fiberglass) (71.9% ROI)

  • Average Cost: $8,994
  • Average Resale Value: $6,469

Window Replacement (Wood) (70.8% ROI)

  • Average Cost: $20,526
  • Average Resale Value: $14,530

Bathroom Remodel (60.2% ROI)

  • Average Cost: $64,743
  • Average Resale Value: $38,952

Nationally—and on the other end of the spectrum—here are the five projects with the lowest ROI in the mid-range cost category:

Backyard Patio (55.2% ROI)

  • Average Cost: $56,906
  • Average Resale Value: $31,430

Master Suite Addition (59.4% ROI)

  • Average Cost: $130,986
  • Average Resale Value: $77,785

Bathroom Addition (60.6% ROI)

  • Average Cost: $47,427
  • Average Resale Value: $28,726

Roofing Replacement (Metal) (60.9% ROI)

  • Average Cost: $38,600
  • Average Resale Value: $23,526

Major Kitchen Remodel (62.1% ROI)

  • Average Cost: $66,196
  • Average Resale Value: $41,133

And the five projects with the lowest ROI in the upscale cost category are:

Master Suite Addition (50.4% ROI)

  • Average Cost: $271,470
  • Average Resale Value: $136,820

Bathroom Addition (58.1% ROI)

  • Average Cost: $87,704
  • Average Resale Value: $51,000

Major Kitchen Remodel (59.7% ROI)

  • Average Cost: $131,510
  • Average Resale Value: $78,524

Bathroom Remodel (60.2% ROI)

  • Average Cost: $64,743
  • Average Resale Value: $38,952

Window Replacement (Wood) (70.8% ROI)

  • Average Cost: $20,526
  • Average Resale Value: $14,530

The 2019 Cost vs. Value Report surveyed more than 3,200 real estate professionals about returns for 22 popular renovation projects in 136 different U.S. housing markets—up from 100 markets last year. View the full report, including project descriptions and city-level data, here.

This appeared first on RISMedia’s Housecall.

Jameson Doris is RISMedia’s blog and social media editor. Email him your real estate blog ideas at jdoris@rismedia.com

For more real estate information, including market data for your area or a FREE Home Market Analysis please contact the Listing Company of CNY at (315) 864-6001 or complete the Contact Us form on this page. The Listing Company of CNY is a full service real estate broker providing a commission rebate to our clients.

Reprinted with permission from RISMedia. ©2019. All rights reserved.

Mortgage Rates: Average 30-Year Falls to Low Point

Mortgage Rates: Average 30-Year Falls to Low Point

By RISMedia Staff

The average 30-year, fixed mortgage rate is at 4.63 percent, according to Freddie Mac’s latest Primary Mortgage Market Survey® (PMMS®)—the lowest it has been since September. The average 15-year, meanwhile, is at 4.07 percent, while the five-year, Treasury-indexed hybrid adjustable rate is at 4.04 percent. All three slid week over week. 

“The 30-year fixed fell to 4.63 percent this week—the lowest it has been since mid-September,” says Sam Khater, chief economist at Freddie Mac. “Mortgage rates have either fallen or remained flat for five consecutive weeks and purchase applicants are responding with an uptick in demand given these lower rates.

“While the housing market softened in response to higher rates through most of this year, the combination of a low unemployment and recent downdraft in rates should support home sales heading into the early winter months,” Khater says.

Source: Freddie Mac

For more real estate information, including market data for your area or a FREE Home Market Analysis please contact the Listing Company of CNY at (315) 864-6001 or complete the Contact Us form on this page. The Listing Company of CNY is a full service real estate broker providing a commission rebate to our clients.

Reprinted with permission from RISMedia. ©2018. All rights reserved.

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