Albany NY Real Estate

$239,000 This historic 4 unit home was just listed and is perfect for owner occupancy. The home has over 4,600 square feet of living and and features a huge two story 2,000 S.F. apartment perfect for owner occupancy!  Owner this building and live in an apartment that is larger then many entire homes for only $500/month with your good credit. Many Separate utilities and other units are fully occupied. Ready to move in!  Call me or visit us online to find out how at Albany NY Real Estate for Sale

I have said it before. I am a numbers guy. I love crunching numbers and using statistics to identify trends and prove a point. Lately I have seen many, many agents touting the ratio of the final sales price to the listing price as a statistic proving their effectiveness. I have seen it in printed listing brochures, websites, and blogs. 

In the Capital Region on average homes in 2008 are selling for 96.08% of list price according to the Multiple Listing Service. However, this stat is somewhat misleading because it figures based on the final listing price not the initial listing price.  Agents often have several price reductions from the original listing price during the listing period. 

I have seen agents take this stat and then use the list price to sale price ratio of their own sales and present it in a way that makes it looks like they sell your home for more then a typical agent. For example, John at xyz realty sees on average MLS listed homes are selling for 96.08% of list price. Yet his homes on average sell for 97% of list price.  The logic used by many agents is "Hey on average I get you 1% more then the typical agent".

This is a complete fallacy and there is no basis to this argument.  This argument assumes that all homes are priced exactly at market value. This is simply not the case! I see mispriced homes every single day. I love agents that say " I produced multi offers the first week and it sold over list price, I did a great job for my seller" Of course it sold over list- You listed it $15,000 below the market. Even selling over list you still shorted your seller!

This is the same argument I hear from For sale by owners. "What commission do you charge ?"is the question I always  get. They always want to say they are saving 5%, 6%, 7% etc. but this assumes the price a for sale by owner obtains and a price I obtain are the same. I can tell you with 100% certainty that the prices will not be the same. My marketing will generally give the home more exposure to qualified buyers and will be higher. 

I just pulled my home sales stats. For 2008 my listings sold at an average of 99% of list price.  I am not patting myself on the back or telling sellers I will net them 3% more then the average agent. This simply means that after 17 years in the business as a broker and certified appraiser I know how to value a home at market value! If you are talking to an agent about listing your home be sure to ask them how many home evaluations they have completed! Valuing a home correctly, particularly in this market, is probably the hardest aspect of the business.

Don't be misled by manipulated housing stats!

  If you have any questions please do not hesitate to contact me. Thank You!

Sincerely,

Kevin Clancy

518-861-7016
kevin@clancyrealestate.com
http://www.clancyrealestate.com

Be sure to check out this month's Newsletter, click here

To Search Thousands of MLS listed homes, click here

To see Kevin's Bio, click here

To see Hot Listings, click here

For Buyer's Articles, click here

For Seller's Articles, click here

I recently had the pleasure of sitting through one of the most tension filled and difficult closings I have had in the last several years. I represented the buyer and the sellers were represented by the listing agent that worked for a major local real estate company. The day before the closing there was a contractual issue that arose that resulted in a riff between the listing agent and her clients. The terms were clearly spelled out in the contract but the sellers claimed the listing agent never explained the contract or misrepresented it. Again the terms were clearly spelled out and signed by the seller so in my opinion the blame falls squarely on the seller. However, the upshot was the listing agent ended up rebating approximately $800 of her commission to the sellers which apparently was not easy to agree too and had to involve the attorneys.

At the closing the situation just added a needless degree of tension and drama. The sellers were basically mad at their agent and her handling of the situation. While we worked through the closing it was more difficult then it had to be.

As I think back about this situation it demonstrates a fundamental difference between the mindset of a broker and that of simply an agent within a firm. As a broker, I am a stakeholder in the company and have a vested interest in making sure my clients leave a closing happy even if I am not at fault. My name is on the company not some firm based out of state.  There is absolutely no way I am going to squander a relationship over $800. I just won't let it happen. As a broker, I take a long term outlook on my business and my clients. To lose a client over $800 is short sighted. Yes, some agents are struggling and $800 may just be the mortgage payment for the month. However, the squabbling over $800 and total alienation of a client was even more baffling in this situation in that the agent was in a classic "double Dip". That is she represented her clients on the sale of their existing home and then represented them as buyers on a larger home in a closing the same day.  Basically great clients that now think their agent is incompetent and will likely never use her again.

My promise to you. If you are every unhappy with anything in a transaction I will do my best to make it right, even if it costs me $800! I want you to be a client for life and raving fan of me and my firm.  I will do what it takes to make this happen including putting your interests above my own in each transaction as my fiduciary responsiblity dictates.

If you have any questions please do not hesitate to contact me. Thank You!

Sincerely,

Kevin Clancy

518-861-7016
kevin@clancyrealestate.com
http://www.clancyrealestate.com

Be sure to check out this month's Newsletter, click here

To Search Thousands of MLS listed homes, click here

To see Kevin's Bio, click here

To see Hot Listings, click here

For Buyer's Articles, click here

For Seller's Articles, click here

Must See inside! Remodeled kitchen with corian counters and stainless appliances. Two full bathrooms. Bonus finished fourth bedroom potential on third floor. First floor laundry, shed, original wood work, hardwood floors,Stainless Steel appliances, three season porch. Offstreet parking for three cars as well! $134,900! Visit us online at 4 Van Zandt Street Schenectady, NY or search thousands of MLS listed homes for free just like a Realtor at Albany NY MLS Home Search

It seems interest in buying Albany NY foreclosures or HUD homes is growing. I am getting more and more calls about buying HUD homes. Buying a HUD home is easy! A HUD home is a home that was purchased using an FHA loan with a bank or mortgage broker. Since it was an FHA insured loan HUD takes the home back if the purchaser defaults on the loan.  When I first started in the business in the early 90's HUD homes were not widely marketed by many real estate brokers. In fact, I can remember driving to the local HUD office every Friday to obtain a paper list of the homes available when the office opened. Today,finding a HUD home is much easier. I have a link on my site under the buyer section of my site for all HUD homes listed by county. Just click on the "search HUD Foreclosures" on the left side of my site at Albany NY HUD Homes  They are also listed for sale in the local Multiple Listing Service. Just keep in mind these homes are foreclosures and generally need a ton of work and are sold "as is". Call me if you are interested in learning more. The very first home I ever purchased was a HUD home and I was able to turn a 50% profit on it when I sold it. I look forward to hearing from you and discussing the possibilities!

That's correct first time hombuyers in Albany may now be eligible for a $7,500 tax credit on their home purchase.  To be eligible for this rebate you must be a first time homeowner and you must close on your home prior to July 1, 2009.  You must also  meet certain income requirements to be eligible. Please call or email me to discuss this program and determine if you are eligible for this credit.

If you have any questions please do not hesitate to contact me. Thank You!

Sincerely,

Kevin Clancy

518-861-7016
kevin@clancyrealestate.com
http://www.clancyrealestate.com

Be sure to check out this month's Newsletter, click here

To Search Thousands of MLS listed homes, click here

To see Kevin's Bio, click here

To see Hot Listings, click here

For Buyer's Articles, click here

For Seller's Articles, click here

It seems like the last couple of weeks with the turmoil in the financial and stock markets the number of calls I have received for foreclosures has increased dramatically. While the number of foreclosures in the Albany market has increased we are not drowning in a sea of foreclosures like some areas of the country. (Vegas, Florida, etc) If you are interested in purchasing a foreclosed home I have set up a website at Albany NY Foreclosures  Register and I will be happy to send you a list of bank owned homes for sale.   Call me anytime to discuss the the risks and rewards associated with purchasing foreclosed homes.

Despite the media hype now remains a great time to buy a home. There is still a relatively high inventory and good selection of homes for sale entering the fall market. If you have good credit today's rates just dropped below 6% for a 30 year fixed rate.  If you want to check daily mortgage rates be sure to try Albany Mortgage Rates the site is updated daily with the most recent rates. For a limited time if you apply for a mortgage with Vista Home Funding and mention you heard about them from Albany NY Real Estate they will waive the mortgage application fee! 

3 Unit money maker with 3 car detached garage just listed for $234,000. Separate boilers, many replacement windows, brand new roof, and plenty of offstreet parking. Coin operated washer and dryer bring in additional income as well. One unit currently owner occupied and managed.Visit us online at Albany NY Real Estate for more info.

Schenectady money maker just listed for $74,900 with offstreet parking a  one car garage. Currently owner occupied and ready to move in! 2 Bedrooms and separate utilities for each unit. Front and rear porches. Hard to beat this price! Visit us at Albany NY Real Estate for more info! 

If you have any questions please do not hesitate to contact me. Thank You!

Sincerely,

Kevin Clancy

518-861-7016
kevin@clancyrealestate.com
http://www.clancyrealestate.com

Be sure to check out this month's Newsletter, click here

To Search Thousands of MLS listed homes, click here

To see Kevin's Bio, click here

To see Hot Listings, click here

For Buyer's Articles, click here

For Seller's Articles, click here