LifeandHomes Central NY August 2025

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Second Half Report

In the early 2010s, following the global financial crisis, roughly half of for-sale homes were at risk of selling at a loss. In early 2020, that number dropped to around 10%. Now, according to a recent Redfin report, that number has decreased again, and approximately 6% of today’s U.S. home sellers are at risk of taking a loss and selling for less than their purchase price.

Redfin Senior Economists say the relatively small share of sellers facing a loss today is good news for buyers. “We are seeing more opportunities for buyers to pay a little less than they would have just a year or two ago. That’s because sellers with significant equity in their homes—and therefore at no risk of selling at a loss—are more willing to be flexible on price. That’s a meaningful shift for anyone who’s been watching and waiting for prices to come down, especially first-time homebuyers."

Homeowners, though, still appear to be in no great rush to make a move. Many say they have no financial incentive to sell as home prices are high and they don’t want to give up their low mortgage rate. While inventory is slowly improving, older Americans are hanging onto their homes, making it difficult for younger Americans to find and afford houses, especially houses large enough to fit a family.

“With baby boomers opting to age in place rather than sell, it’s challenging for younger buyers to find affordable options that fit their lifestyle," reports Redfin. "But it’s worth noting that even though many older Americans say they’re not planning to sell their homes, many are likely to eventually part ways as it becomes harder to live independently and/or keep up with home maintenance.”

That said, as we continue into the second half of the year, it’s reportedly a buyer’s market in many parts of the country, and economists are predicting home prices will decline 1% year over year by the end of 2025. As we all know, anything can happen. We'll have to wait and see if that prediction holds.

What You Need To Know About Home Equity Loans

If you have large or unexpected expenses on the horizon, you may have access to an untapped resource: your home. You could use some of the equity you've built up in your house to meet financial goals, depending on how much equity you have and how you use it.

Here's a guide from the experts at Navy Federal Credit Union to explain how home equity loans work and when you should - or shouldn't - use your home's equity.

What is a home equity loan? In basic terms, a home equity loan is money you're borrowing using your home as collateral. The equity in your home equals how much of your home's value you actually own (not counting the mortgage you're still paying off). Home equity loans are frequently offered at lower interest rates than other loans, so they may be a great option for consolidating debt on higher-interest credit cards, or large home improvement projects.

You can determine how much equity you have in your home, and how much your home equity loan payments are likely to be, using online calculators.

Here are the two most common types of home equity loans:

Fixed-rate equity loan: This is a lump sum amount you'll draw from your home's equity, paying back monthly at a fixed interest rate for

the life of the loan, so you'll know exactly what to expect. Fixed-rate home equity loans are typically used for:

• Home improvements/repairs

• Debt consolidation

• Large purchases

• Life events

Home equity line of credit (HELOC): This is a line of credit secured by the home, which lets you borrow funds if and when needed, up to a set maximum credit limit. You only have to repay the funds you borrow. HELOCs are typically used for:

• Home improvements

• Emergency funds

• Medical expenses

• Debt consolidation

The best use of a home equity loan or home equity line of credit is when the money you borrow increases your home's value via renovations or repairs, as this continues building the equity you're borrowing against. You may also have tax benefits for using the loan toward home improvements, so it's recommended to consult a tax professional.

When NOT to use a home equity loan or HELOC

Because these loans use your home as collateral, remember that you'll want to be sure you can stay on track with loan repayments. For this reason, financial experts advise against using home equity to borrow for things including:

A car purchase: An auto loan is usually a better choice for purchasing a new or used vehicle. Interest rates on auto loans tend to be similar or lower than home equity loans, and auto loans usually require little paperwork and fewer fees.

Vacations: It's better to save up for near-term wants like vacations or large-screen TVs than using your home's equity for something offering no financial return.

College: Consider all options - including federal student loans, scholarships, grants, and private

student loans - before tapping into home equity.

A home equity loan may be a consideration if current mortgage rates are significantly lower than federal student loan rates, especially for graduate or professional degrees. But unlike federal student loans, if you use home equity to pay for college, you won't qualify for incomedriven repayment plans or loan forgiveness programs.

Starting a business: Your best bet for launching a business is a business loan through a financial institution or the U.S. Small Business Administration (SBA). If your business fails and you have a home equity loan or HELOC you can't repay, you're putting your home on the line.

Recurring expenses: Using home equity to cover everyday bills can be a slippery slope. Consider your long-term ability to repay the loan. Since your home is your collateral, missed payments could lead to foreclosure.

Make

a

smart plan

Your home equity is a valuable resource for managing your finances. Planning ahead and understanding your repayment responsibilities is crucial for making the best use of a home equity loan or home equity line of credit. For more information and to explore your home equity options, visit NavyFederal.org/equity. Navy Federal is federally insured by NCUA. Equal Housing Lender.

hen seeking commercial-investment real estate counseling, the person to turn to is the Certified Commercial Investment Member. This professional will help you achieve your investment or commercial real estate goals. CCIMs bring a full-time commitment to the field of commercial-investment real estate.

They recognize the value of working closely with the client’s entire team of professional advisors. As a specialist, a Certified Commercial Investment Member is fully trained and properly qualified to work with attorneys, accountants, developers, bankers, appraisers, and architects. With the CCIM, these professionals will assist in meeting the client’s real estate investment goals.

Sabrina

There is a convenient laundry area near the first floor bedrooms, and the open staircase leads to an oversized primary bedroom with an ensuite bath! If a fourth bedroom is needed, there is extra space in the walkout basement that also includes a family room and a workshop.

Jut as the residence is made for the comfort of people, the barn is constructed to pamper your horses. This 60x60 foot newly constructed building includes eight custom stalls, two of which are super stalls, made to accommodate two horses. There is a huge tack room and plenty of space for feed storage. Along side the barn are four partly sheltered paddocks that enter into a 200 x 120 foot riding ring. As a bonus, there is a 36 by 60 foot second floor on the barn for future expansion (classrooms or apartment maybe?)

Vehicle storage is provided by a one-stall under the house and a three-stall detached garage. The majority of the land is wooded and there are about two acres of meadow near the stable. A small stream provides year-round harmony.

Live the good life in this exceptional contemporary Log Home tucked away in a corner above the orchard on this nine and four-tenths-acre Horse Ranch!

Enjoy the view from the glass-walled living room with its cathedral ceiling and massive stone replace. Entertain in style from the adjoining kitchen/dining area with custom cabinets and built-in appliances. A wrap-around porch brings you outside for summer fun.

9+ Acre Log Home & Horse Ranch

$835,000 Call Bruce Ward today 315-796-4425 for your private showing.

Jacqueline Macaluso Broker/Owner

8083 Hughes Road

Holland Patent, New York

Beautiful Cedar-Sided Cape Cod, built in 1991, featuring a striking copper roof. This unique residence is situated on a 15+ acre sanctuary, complete with a pond and exquisite landscaping, ideal for those seeking comfort away from the hustle and bustle.

As you enter the property, you’re welcomed by an oversized garage connected to a double-wide, circular driveway. The garage leads into the first floor, which includes a convenient laundry area and a half bath.

The spacious kitchen features granite countertops, custom-made oak cabinets, a gas stove top and separate double ovens, and a wine cooler. This kitchen flows seamlessly into a cozy family room, where a woodstove awaits to warm up chilly winter nights. The first floor also boasts a formal dining room and a living room with bay windows that allow for ample natural light. In addition, you’ll find a full primary suite complete with a bathroom, which includes a jetted tub and a large walk-in closet. The first floor is enhanced by wide plank oak wood flooring.

The second floor is home to three generous bedrooms and one expansive great room, perfect for use as a bedroom or for any creative purpose you envision, such as a studio, office, or gaming room. Step out onto the covered porch to enjoy views of the pond and surrounding landscape, and distant valley views.

Additional Highlights:

• New solar panels (10.54 kW) w/ a 25-year warranty (installed in 2021)

•Electric car charger (50A)

•New dual-tank water softener and filtration system (20, 5, and 1 microns)

•New 86-gallon well pressure tank with constant pressure

•New well pump

•New 60-gallon indirect water heater

•New smart boiler controls

•Outdoor filtered hot/cold water tap

•Rainbow children’s playset

•Exterior and deck painted in 2025

•New smart thermostats w/ individual room sensors

•Dedicated fiber internet line

•New Quadra-Fire fireplace insert

Less than 20 mins to Tech Center, Gri ss, and Wynn Hospital. There’s so much more to discover, but you’ll have to see it for yourself!

6964 River Road, Downsville NY - Offered at $1,900,000

Located in Downsville, NY—just 2.5 hours from NYC and 2 hours from Albany—this iconic, family-run o ering includes Al’s Sporting Store, the Downsville Motel, a canoe/kayak rental business, a riverside takeout property, and nearly 6 acres of additional riverfront land.

Established in 1983, booming Al’s Sporting Store is a beloved destination o ering shing, hunting, and outdoor gear, NYS licenses, unique gifts, and Amish furniture. With lots of local history and a quaint town, this property is located just minutes from many other towns that host festivals and more all year long!

The building includes o ce space, guest bathroom, and workshop space on the main oor. The second oor features a 2 bedroom apartment and a large open room with a separate entrance, perfect for hosting classes, storage, converting into another apartment, or opening to the 2-bedroom apartment. The sports store has hot water heat, a private drilled well, septic and a back up generator.

The Downsville Motel, fully operational and year-round, features 7 riverfront rooms with patios and a

2nd- oor 2-bedroom apartment- perfect for owner-occupied or continue to rent for additional income. Generations of guests continue to make this their vacation location! The sta wants to stay on so you’ll be stepping into a turn-key business! Heat, private well and septic, and a backup generator are all in place.

The thriving canoe/kayak rental business boasts over 100 boats and a popular 7-mile scenic ride down the East Delaware River!

The Sycamore house is at the canoe/kayak take-out location, seven miles down the river. At the takeout point sits a rustic 2 BR home. Live here or turn it into the Sycamore Café! It’s the perfect location for a small restaurant. Private well and septic, while some TLC is needed, it’s the location right on the river next to a historic bridge that is incredible!

Additional acerage. Finally, enjoy 5.8 acres of at riverfront along the E Delaware River- with trails and picnic areas—ideal for camping or glamping expansion. Set up platform tents, easy to add a bath house for guests. This land borders the Downsville Motel!

Amodio Realty, Inc. Pays it Forward by Giving Back

Real Estate Rebate Program Honors Local Heroes

Amodio Realty Inc., located in the Town of Lee, wanted to show its appreciation to the military, law enforcement, firefighters, first responders, health care professionals, and teachers for their service to country and community, but wanted to do it in a way that went beyond mere words.

So the small family real estate agency, staffed by Stephen Amodio (Broker/Owner), his wife Betsy (President/Owner), and their daughter, Lucciana, decided to do something extraordinary with their business after learning about Heroes Home Advantage and a courageous woman named Michele Ladd, its founder.

Stephen Amodio, a former Marine whose own family includes many community heroes, heard about Ladd’s noble mission of honoring hometown heroes by offering discounts and rebates on real estate services, and he wanted to get on board. He did his due diligence first, spending nine months researching and speaking with other realtors nationwide who were already participating.

Amodio Realty, Inc. joined the Heroes Home Advantage program in January of 2017 and is currently working with about a half dozen heroes. He has closed on several properties already, but explained that it’s not about being pressured to obtain listings, move properties and meet sales quotas. It’s about giving back. He discovered through census tract records that in the tri-county area he exclusively serves, these categories of community heroes when

combined comprise 50% of their total population.

As of August 2024, Amodio Realty, Inc. now serves 8 counties: Oneida, Herkimer, Madison, Jefferson, Lewis, Oswego, St. Lawrence and Hamilton!

“We can never repay our heroes for their service, but we can honor them with a small token of our appreciation,” Amodio said. “We are looking for opportunities to honor local community heroes. That is our goal.”

Amodio Realty gives 25% of earned commission directly to the hero, (up to $5000 per transaction), when we close on the sale and/or purchase of their residential or commercial property.

“It’s a small gesture in comparison to the their daily sacrifices and service to our community and country,” he said.

He also works closely with a comprehensive, likeminded network of community partners who offer additional rebates and discounts on their related

products and services. The savings to heroes when all is said and done can be thousands of dollars. As word of mouth about the program spreads, Amodio envisions adding a half-dozen sales staff and expanding his cadre of committed community business partners even further. He graciously welcomes those who respect the program’s mission and embrace its spirit of honoring community heroes for their contributions.

“We’re hungry for more hero partners,” he said. “The door is wide open to virtually any business, but we discourage people from using the program to leverage their business and not follow through on their promises.” There are no fees involved, no catches, and no restrictions on how Amodio’s rebate can be used. The program is open to all qualified active, retired and volunteer heroes, both buyers and sellers, including first-time home buyers.

Amodio can’t hide his enthusiasm for the program and the people it serves.

“We’re enjoying doing this,” he admitted. “We always get a great reception.”

Heroes Home Advantage has representation in 40 states. For more information, visit AmodioRealty.com or HeroesHomeAdvantage.com

Article written by Richard Barrett Editor, Accent Magazine Reprinted and edited with permission Special Thanks to Jason Gulla with Gulla Graphics

52’ x 38’, 1,688 sq ft 1st floor, 580 sq ft loft. Features 3 bedrooms, 2 baths, laundry area, breakfast nook.

Cape Chalet

Living Area: 38’ x 24’, 912 sq ft 1st floor, 376 sq ft loft; 38’ x 28’, 1,064 sq ft 1st floor, 460 sq ft loft. Features 3 bedrooms, 1

Salt Box Living Area; 34” x 24”, 816 sq ft 1st floor, 476 sq ft loft. Features 3 bedrooms, 2 baths, Great Room.

Hamden Living Area: 34’ x 28’, 952 sq ft 1st floor, 952 sq ft 2nd floor. Features 3 bedrooms, 1 1/2 baths, dormer.

porch.

Living Area: 82’ x 38’, 1,728 sq ft , 554 sq ft garage. Features 4 bedrooms, 2 1/2 baths, 2-car garage.

Altan V

Living Area: 38’ x 24’, 912 sq ft, 46’ x 24’, 1,104 sq ft. Features 3 bedrooms, 1 bath, Great Room, wrap-around deck.

Brenda Wells Associate Broker
Sheranda Wells
Altran
Catskill
Alta
Putnam
Greenbriar “C”
Belleayre
Claremont
Retreat
Chalet “B”

MLS DIRECTORY

Gina Hartman

Licensed R.E. Salesperson 315-717-5249 ginahartman55@yahoo.com

Bruce Ward & Co, Inc.

Amy Abdoo

Lic. R. E. Broker

315-794-2653

BLON316@AOL.com

Dominion Homes Real Estate Brokerage

Pamela Allen

Lic. R.E. Salesperson

315-717-7530

pfallen0314@gmail.com

Bruce Ward & Company, Inc.

Clyde Diedrich

Lic. R.E. Broker

315-868-4339

rcentur3@twcny.rr.com

Diedrich Associates Valley Realty

David Drapalski

Lic. R.E. Assoc Broker 315-868-3233

superdd527@aol.com

Bruce Ward & Company, Inc.

Janet L. Giacovelli

Lic. R.E. Salesperson 315-404-7108

janetgiacovelli@howardhanna.com

Howard Hanna Utica/New Hartford

Azza Giorgi

Lic. Assoc. RE Broker 315- 534-2709 azzagiorgi@gmail.com

Howard Hanna CNY IncUtica/New Hartford Office, NY

Patricia Kelly

Lic. R.E. Salesperson 315-717-2421 bward@brucewardusa.com

Bruce Ward & Company, Inc.

Thomas F. Koehler

Lic. R. E. Broker/Modular Home Dealer 315-891-3254

Koehler RE/ New Homes Modular

Fred Macchia

Lic. R. E. Broker 315-292-0373 fmccim@hotmail.com 1st Rome Realty

Bill Macri

Lic. Associate R. E. Broker 315-360-1920

bill.joemacrirealty@gmail.com

Joe Macri Realty

John Macri

Lic. R. E. Salesperson 315-866-2521 jmacri40@yahoo.com

Joe Macri Realty

Monica Munford

Lic. R.E. Salesperson 315-822-6666

pmumford@twcny.rr.com

Bruce Ward & Company, Inc.

Robert Paul Lic. R.E. Salesperson 315-717-3527

rpaul07@yahoo.com

Bruce Ward & Company, Inc.

Paul Sacco Lic. RE Salesperson (315) 525-1377

paulsacco1013@gmail.com

Howard Hanna Utica/ New Hartford

Joel Siegfried Lic. R. E. Broker 315-796-2258

joelsiegfried@gmail.com SBG, Inc.

Carol Spisak

Lic. R.E. Salesperson 315-269-6933

carol1320@aol.com

Bruce Ward & Company, Inc.

Michelle Gorea Thompson

Lic. R. E. Salesperson 315-794-3260

saratogaunion@aol.com Coldwell Banker Faith Properties - John Brown Tream

K Bruce Ward Lic. R.E. Broker 315-796-4425

bward@brucewardusa.com

Bruce Ward & Company, Inc.

James F Woodrick

Lic. Associate R. E. Broker 315-866-0258 jwoodric@twcny.rr.com

Bruce Ward & Company, Inc.

Antiques/Estates

THE POTTING SHED ANTIQUES

315-736-5214

LifeandHomes Product & Service Directory

Flooring

Estate & house sales, appraisals, coins, vintage jewelry, antiques, glass, china, furniture, Americana, art, lighting and more. thepottingshedantiques.com

Cabinets

CABINET AMERICA

315-733-6261

Kitchen cabinets and Stone countertops. Exceptional quality and great prices. Fast estimates. Over 50 years experience. By appointment only. cabinetamerica.net

Farm & Garden

BENSON'S FARM AND GARDEN

315-520-8395

Member Since 12/21

located in Whitesboro, NY has been a family run greenhouse since 1977. We serve the Utica-Rome area offering a wide selection of annuals, vegetables, perennials, and hanging baskets as well as everything you need to build and maintain your pond.

Garage Doors

NORTHERN GARAGE DOOR SERVICES COMPANY, INC.

315-831-8624 or C: 315-368-7712

Garage door Installation, Repair, Service Professional, Dependable, Courteous Service. Joe Griswold, Owner

Home Inspection

ADVANCED HOME INSPECTION SERVICE, LLC

315-792-9029

Member Since 04/13

27 years experience. NYS Licensed/Certified Inspector. NEHA/NRPP Certified Radon Inspector. Electronic Inspection Report Emailed Same Day. www.advancedhomeis.com

315-795-4900 Insurance

PROTECT NY INSURANCE AGENCY

Homeowners, Automobile, Business, Landlord Insurance. Jordan Roorda, Principal Agent. www.ProtectNY.com

315-865-5845

Serving the Oneida, Herkimer & Madison counties, we have a simplified and centralized database of area listings to help you promote your new listings and buyer needs to cooperating agents and brokers, plus off-market, solds and historic info.

Painting

URBANIK’S PAINT CO.

315-724-5129

315-336-0400

Member Since 07/15

Largest selection of paint and wallcovering in Central NY. Rentals: floor sanders, polishers, airless sprayers, power washers, edgers. 1420 Oriskany St. Utica

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