Congratulations, Jane! In The News… August 31, 2010
August 31, 2010 by Mark Siwiec
Filed under Full Blog, In The News...
First off, we wanted to say congratulations to Jane Gorsline, of Mitchell Pierson, for securing the $2.9 million lakeside listing of iconic businessman and philanthropist, Thomas Gosnell. It is a beautiful property, and is one of the most expensive listed in the seven-county region, according to the Greater Rochester Association of Realtors.
Here is some other news that has captured our attention…
Just when I thought the housing market was finally being left to correct on its own, I’m starting to hear talk regarding yet another home buyer tax credit…
CNBC.com
In uncertain economic times like these, houses in some price ranges and neighborhoods are much slower to sell, real estate agents say, meaning homeowners have to be aggressive with the pricing and have a good marketing strategy…
Democrat&Chronicle.com
A growing number of homeowners are choosing to pay down their mortgages at a faster rate–even if it means a substantial jump in their monthly payments…
WSJ.com (The Wall Street Journal)
Seen an interesting real estate story we missed? Post it in a comment!
Oh, How Quickly The Tides Change!
August 27, 2010 by Mark Siwiec
Filed under Buying & Selling, Full Blog, Mark & the Market
The business of real estate is such a volatile one. Sales sometimes fall apart faster than they come together. While very little is ever a certainty when it comes to buying and selling real estate, some deals just seem to feel stronger than others. However, even those deals have a way of falling apart when you least expect them to.
Heading into this past weekend, I thought I had a number of deals on the horizon that were a virtual certainty. I was truly excited at the prospect of what would amount to roughly $1 million in sales assuming each of these deals was consummated.
How quickly the wind was let out of my sails!
One buyer felt the need to spend more time looking into town approvals and evaluating the work that the project would require. Another realized that they would have to refinance their primary residence in order to purchase a second home. A third buyer found a great house…seemingly everything they were looking for…but backed out because they just weren’t emotionally ready to move. And one of my sellers finally agreed to a buyer’s purchase price, and the buyer backed away, apparently having a change of heart.
Three years ago, all of these deals would have come together. Now – let’s just say the dynamic has changed. The market these days isn’t what it used to be. There’s no imperative for buyers to buy quickly for fear that they will lose a house if they don’t. The compulsion to purchase a property that is anything less than perfect has vanished.
That said, we’ll continue to do what we’ve always prided ourselves on – and that’s stepping up to the plate and being there for our clients. As they usually do…things will turn around.
In The News… August 26, 2010
August 26, 2010 by Mark Siwiec
Filed under Full Blog, In The News...
Some interesting articles we’ve come across this week…
30-Year Mortgage Rate Hits Another Record Low
Mortgage rates fell to the lowest level in decades for the ninth time in 10 weeks as concerns grow that the economy is weakening…
CNBC.com
Mortgage Picture Brightens, for Now
The number of U.S. households that missed consecutive mortgage payments or were in foreclosure fell more in the second quarter than anytime since the mortgage crisis began four years ago, a survey found…
WSJ.com (The Wall Street Journal)
The Future is Now at Transformed Greenwich Village Loft
Architect Ben van Berkel’s UNStudio firm was denied bringing its Dutch brand of craziness to Tribeca when its Five Franklin Place condo building was shelved, but one anonymous Greenwich Village art collector enlisted the firm to create a personal playground straight out of 2001: A Space Odyssey…
Curbed.com
We’re always eager to share interesting stories, cool architecture, or anything we’ve missed! Let us know!
In The News… August 24, 2010
August 24, 2010 by Mark Siwiec
Filed under Full Blog, In The News...
Recent news we’ve found particularly interesting…
Even in the strongest economies, New Yorkers of sound mind find that talking with a real estate broker can result in rolled eyes, raised voices and a New York version of “taking it outside” by threatening litigation…
NYTimes.com
Sales of previously owned U.S. homes dropped more steeply than expected in July to their lowest pace in 15 years, an industry group said Tuesday, implying further loss of momentum in the economic recovery…
CNBC.com
They’ve been called McMansions, Starter Castles, Garage Mahals and Faux Chateaus but here’s the latest thing you can call them — History…
CNBC.com
Seen an interesting real estate story we missed? Post it in a comment!
Siwiec Team is Growing; New Directions for 2011
August 20, 2010 by rachel
Filed under Full Blog, Mark & the Market
With the temporary slowness of the real estate market in August, I’ve really enjoyed this time to stop and smell the roses, so to speak. It has been refreshing to have a little more time to relax. Duffy and I went down to our property in Hammondsport this past weekend, and for the first time, we were able to see a clear definition of the property lines as the lawn had been mowed. So cool! And we have a driveway! Hey, we were excited. I also had the opportunity to have dinner with several of my agents this week – it’s such a great feeling to sit down over some drinks and good food and just enjoy the company of the people you work with.
I’ve also used this time to recruit some agent prospects to join us as we continue to grow in the coming years. I’m excited to say I’ve found 3 new agents, all of whom I believe will be tremendous additions to our team. Two of them are young guys, both in their early 20′s, and relatively new to selling real estate, but as genuine as can be, and eager to jump right in. The other agent has been selling real estate locally for a few years, and is a close family friend of Becky’s, so we’re excited to have her as well. We look forward to welcoming them all some time within the next 4-6 months. And, on a side note, I have to acknowledge that I’m suddenly looking around and realizing that my team has been taken over by Italians – half of our team has an Italian last name!
In addition, I’ve decided to hire a marketing coordinator, most likely some time in December or early January. Marketing is so important in any business, and the opportunities have become virtually endless with the ever-emerging world of online advertising and social media. We certainly recognize the need to have a team member who can dedicate themselves to improving our marketing, and helping us to further develop our presence in the marketplace. More on this soon!
Lastly, I’m in the process of changing Nicole’s job description. Recently she’s been working with a lot of our buyer clients, helping to coordinate showings, and in some cases, even accompanying them on showings. While she is absolutely fantastic and irresistably charming, I need to free her up to be able to devote her time to our accounting, billing, and payroll. That said, my goal and hope is to have another agent from my team assist me with my buyers when I’m unable to be there. It will be advantageous not only from an office standpoint, but also because I want our buyers to have immediate access to an agent on our team for any questions that arise.
More on all of these changes as they unfold. Thanks for letting me share these exciting developments on our journey to grow and become bigger and better. We love working with you and, as always, appreciate your confidence and trust in us. Have a great weekend!
Mark
In The News… August 19, 2010
August 19, 2010 by Mark Siwiec
Filed under Full Blog, In The News...
Recent news we find particularly interesting…
CNBC.com
Anna and Charlie Reynolds of St. George, Utah, were worried about losing their home to foreclosure last year. Then they got a lucky break—from an unlikely savior…
WSJ.com (The Wall Street Journal)
Last season on Selling New York, HGTV’s NYC real estate reality show, As the World Turns star Noelle Beck’s quest to find a buyer for her parents’ pied-a-terre (celebrities: just like us) ended in total failure…
Curbed.com
Seen an interesting real estate story we missed? We’d love to see it – post it in a comment!
In The News… August 17, 2010
August 17, 2010 by Mark Siwiec
Filed under Full Blog, In The News...
Here are a few articles I’ve found interesting…
If a Finger Lakes vacation home is in your plans, you might need to adjust your expectations. Median prices for homes across the nearby lakes have almost doubled in the past eight years…
D&C.com
The house on the 53rd block of South Wood Street in Chicago’s Back of the Yards doesn’t look like a $355,000 home. There is no front door and most of the windows are boarded up…
CNBC.com
The U.S. government will likely continue to play a role in guaranteeing mortgages, but policy makers must figure out how to design a system that doesn’t lead to a rerun of the collapse of mortgage-finance giants Fannie Mae and Freddie Mac, Treasury Secretary Timothy Geithner told attendees at a housing summit convened on Tuesday…
WSJ.com (The Wall Street Journal)
Seen an interesting real estate story we missed? Post it in a comment!
Weekend Events & Activities… August 13, 2010
August 13, 2010 by Mark Siwiec
Filed under Full Blog
Looking for something to do this weekend? Here’s a few things that might be fun…
20th Anniversary of the East End Festival
When: August 13, 5 p.m. – 11 p.m.
Event Phone Number: 585-325-6490
Easy on East – 170 East Ave. – Rochester, NY
Six stages of music, food and activities. Sponsored by the Downtown Fitness Club. Music by Big Eyed Phish, BEDROC, Nevergreen, Dave McGrath Band, Double Cross, The Skycoasters and others. Event will include a high end fashion show.
Baseball: Rochester Red Wings vs. Lehigh Valley IronPigs
When: August 13, 7:05 p.m.
Price: Call for details
Event Phone Number: 585-423-9464
Location: Frontier Field
1 Morrie Silver Way
Rochester, NY 14608
Chef’s Day at the Market
When: Saturdays, 10 a.m. – 12 p.m. (ends October 16)
Price: Free admission
Event Phone Number: 585-428-6907
Location: Rochester Public Market
280 N. Union St.
Rochester, NY 14605
Area chefs demonstrate recipes – a fun event for the cook or food lover in all of us!
Have a good weekend!
Mark & the Market – August 13, 2010
August 13, 2010 by Mark Siwiec
Filed under Full Blog, Mark & the Market
Every year right around August, the real estate market slows down considerably. Families take end-of-summer vacations. Buyers who wanted to buy and close prior to the beginning of the school year needed to do so in June and early July. Sellers often take properties off of the market in late July and re-list in September. And, consequently, many agents plan their vacations as it is slow for them as well.
It’s usually a great time for me to catch up with my clients. During the spring madness and early summer months, it often feels like the days come and go before I’m able to talk to everyone I’d like to. While anyone who knows me well knows I never like to slow down for long, it’s really great to touch base with people when there is a little down time.
September and October, the market picks up again. It’s the last big push for sellers who want to find a buyer before the holidays. Likewise, it’s the last couple months for buyers who are back from vacation and ready to buy before winter sets in. As November rolls around and demand declines, sellers can expect any offer to be 5-10% less than what it would have been prior.
Most agents do roughly 3/4 of their business in the first 8 months of the year. I’m thrilled to say we’ve sold about $25 million in real estate thus far in 2010, on track to reach $33 million for the year – our 4th consecutive year to surpass the $30 million mark. I’m honored that so many people have had faith in us, despite what has been a tough economy the last few years. Because of it, we’ve been able to maintain a steady level of growth and success – a success that I certainly do not take for granted.
In The News… August 12, 2010
August 12, 2010 by Mark Siwiec
Filed under Full Blog, In The News...
Some more news that caught our attention…
Home loan rates set new lows in the latest week on more evidence of a soft U.S. economy and high unemployment, home funding company Freddie Mac said on Thursday…
CNBC.com
Rochester and Upstate New York are doing better than many parts of the country in terms of home foreclosures, a new report indicates…
RBJ.com (Rochester Business Journal)
As always, thanks for sharing the news that catches your attention – whether factual or just simply entertaining! Your thoughts, stories, and reactions are always welcome!