Upstate Real Estate April 2018

Real Estate UPSTATE

& HOME SERVICES

Featured

HOME OF THE MONTH

Catskill Dream Team Margaretville 917-399-3243 www.catskilldreamteam.com

Buyer’s guide to windows Page 4

The East Meredith Train Depot This amazing, renovated, historic property is available for sale. 4 bedroom, 3 bath.

Approximate sq. ft. estimated at 3,400.

Listing Price: $389,000

FHA loans pros and cons Page 10 VOLUME 1 | ISSUE 4 | APRIL, 2018

Four clever ways to use under-the-stair space Page 13

Real Estate UPSTATE

& HOME SERVICES

A Publication of The Daily Star

102 Chestnut Street Oneonta, NY 13820 607-432-1000 www.thedailystar.com

Buyer’s guide to windows.. ... .................................................... Page 4 Buying land: what you need to know.. .......................................... Page 6 What can a real estate agent do for you?...................................... Page 8 FHA loans pros and cons.. ....................................................... Page 10 Five things to consider when buying a garage door.. ....................... Page 12 Four clever ways to use under-the-stair space. . ............................. Page 13 Host a successful open house.................................................. Page 14 Decorating tips to visually enlarge a small space.. .......................... Page 16 Do water heaters require regular maintenance?. . ........................... Page 18 What to look for in your next front door...................................... Page 19 2

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April, 2018

Qualities to look for in a property manager After buying your very own income property, it’s important that you hire the right person to manage your investment. Here are just a few qualities that make for an effective property manager: • Good people skills: to communicate effectively with your tenants.

• Organized: to ensure rent is always collected on time.

• Trustworthy and professional: this is your building; you want to leave it in the hands of someone with a good background.

• Handy: you never know when you might be able to save some money on minor maintenance.

You want a trustworthy property manager who will look after your investment.

METICULOUSLY RENOVATED VICTORIAN HOME Elm Street, Oneonta, NY • $699,900 5 BR • 5 Bath • 4560 sq. ft. • 2-Car Garage

ALEX ANDER EX ARCHOS Licensed Real Estate Salesperson

Cell: 917.496.6866 Email: catskillalexander@gmail.com Web: catskilldreamteam.com Broker: Meade Camp • 917.558.0447 10 Rosa Rd., Margaretville, NY 12455

UPSTATE Real Estate & Home Services

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April, 2018 | 3

Buyer’s guide to

windows Buying new windows is a big investment.

Here’s what you need to know to make the right choice.

Energy efficiency Make sure you choose windows that’ll provide you with good energy efficiency, such as Energy Star certified models. Consider the U-factor (a measure of heat loss), watertightness and wind resistance of each model.

Type There are four main types of windows: 1. Casement windows open with a crank and are highly weatherproof.

2. Sash windows, slightly less weatherproof than 4

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April, 2018

casement windows, comprise two sections that slide up and down.

3. Awning windows pivot from top to bottom, meaning they can be opened even if it’s raining out.

4. Sliding windows comprise two panels that open laterally. This is the most affordable option, but also the least watertight.

Your choice of model will depend on the style of your property as well as municipal regulations (some places require that a certain type of window be used for a building’s façade, for instance).

Glass used in North American windows is typically double-paned, meaning it contains an air pocket that improves insulation, or even triple-paned for further effectiveness.

Frame

Glass

Window frames, which should match the architecture of your home, are available in different materials: • Wood is aesthetically pleasing and eco-friendly, but requires quite a bit of upkeep and is vulnerable to insects, weather and moisture.

• Aluminum window frames are robust, durable and low-maintenance, but require a costly thermal break to counter their conductivity.

• Fiberglass, on the higher end of the price scale, is light, durable, easy to maintain and weather resistant.

• PVC is the most common material for window frames. It’s resistant to moisture and corrosion and requires very little maintenance. However, it must be relatively thick in order to withstand temperature variations, leaving less room for the glass pane.

• Hybrid window frames combine two materials to reap the benefits of each (e.g. PVC for the interior frame and aluminum for the exterior frame).

Glass used in North American windows is typically double-paned, meaning it contains an air pocket that improves insulation, or even triple-paned for further effectiveness. Gases with superior insulating properties such as argon or krypton may be used instead of air.

The glass can also be covered in a low-emissivity (LowE) metallic film that reduces heat loss.

Spacer and weatherstripping The spacer contours the glass and ensures that it’s watertight. Choose a non-metallic spacer to minimize condensation. As for weatherstripping, it should be made of a material that’s durable and able to withstand temperature variations—rubber is usually a safe choice.

Finally, even the best windows won’t perform well if they’re poorly installed—call in the professionals to benefit from quality workmanship.

UPSTATE Real Estate & Home Services

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April, 2018 | 5

the perfect plot

Buying land: what you need to know

S

o, you’ve decided to build a home from scratch. While there are numerous advantages to building your dream house from the ground up, there’s one important thing to think about that many people often forget: land.

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Finding the perfect plot of land is difficult. You might think that all you need is to find the one that seems the most aesthetically pleasing, but there are a few important considerations you need to make before you buy.

April, 2018

Zoning laws Before you buy a plot of land, it’s important to verify what kind of zoning restrictions exist for the area you’re looking into. You want to make sure that the land surrounding the property doesn’t have

planning permission for warehouses, apartment complexes or even highways.

Location Is your desired plot part of a larger real estate development? What kind of school district is it in? What kind of view is your plot going to give you? These are all important questions you need to ask before committing to buying a plot of land.

Utilities and resources You need to know exactly what kind of access to utilities your land will have. This includes water, electricity, waste management and even internet access.

Flood risks The composition of your land is also important. Find out what kind of risk your land will be at for flooding.

This will determine what kind of insurance you’ll need to purchase when it comes time to build.

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April, 2018 | 7

here to help

What can a real estate agent

I

do for you?

f you’re looking into buying a new home, you might wonder why you can’t just go at it on your own. There are a number of advantages to hiring a real estate agent to help you find the perfect house to fit your every need. A trained real estate professional can: • Set up viewings • Handle paperwork

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April, 2018

• Put his or her negotiation experience to work for you • Share his or her knowledge of the area • Offer guidance when it comes to pricing and value Hiring a real estate agent is a great way to reduce the amount of stress that goes with making one of the biggest financial decisions of your life.

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April, 2018 | 9

home ownership

FHA loans

PROS AND CONS

F

ederal Housing Administration (FHA) loans can make home ownership a reality for many Americans. This type of government-backed mortgage is one of the easiest to acquire, and it’s available through a variety of lenders.

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The pros

The good news first. FHA loans: • Allow you to purchase a home with a down payment as low as 3.5 percent.

• Are available if your credit score is as low as 580 (or 500 with 10 percent down payment).

| UPSTATE Real Estate & Home Services | April, 2018

• Can be acquired even if you’ve declared bankruptcy or had a foreclosure in the past, as long as it wasn’t in the last 12 months.

• Are assumable, meaning that buyers of your home can assume your loan at your interest rate.

• Are easy to qualify for.

You simply need to prove that you can repay the loan and have no federal debt.

The cons Now for the not-so-good news. FHA loans: • Require you to pay — or finance into the mortgage — an upfront mortgage insurance premium (UFMIP)

of 1.75 percent of the total mortgage amount.

• Require you to pay a monthly mortgage insurance premium (MIP), the rate of which will depend on your loan-to-value ratio

and the size and duration of the loan. Your rate could be anywhere from 0.45 to 1.05 percent.

• Require you to have the home you wish to purchase appraised by an FHA ap-

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praiser for basic health and safety requirements.

• Have limits on the amount that can be borrowed based on the state and county where you wish to buy.

If you think an FHA loan is a good fit for you, be sure to shop around — without ruling out conventional loans — and compare offers from several different lenders to get the best possible terms and rates.

Show & Sell Your Homes

P.O. Box 96 Gilbertsville, NY 13776

607-783-2289 www.gilbertph.com

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April 2018 | 11

opening doors

Five things to consider when buying a

garage door

Need to purchase a new garage door? To make an informed decision, consider the following five elements:

1. Color. Match your garage door to your door and window frames, taking into account the color of your home’s exterior cladding (and mortar, if applicable).

2. Style. Your garage door, from the shape of the panels and

windows to the style of the handles and hinges, should harmonize with the overall architecture of your house. For example, choose a simple, structured model if your home has a modern design.

3. Insulation. Having a properly insulated door means that

your garage will get less cold in the winter and less hot during the summer. Check its R-value (a measure of thermal resistance; the higher the R-value, the better the insulation) and U-value (a measure of heat loss; the lower the U-value, the better).

4. Hardware. For a door that’s silent, durable and easy to

open, choose a model equipped with high-quality tracks, springs and bearings, and make sure that they’re adequately calibrated according to the weight of the door.

5. Material. Various materials are available—be sure to

research the characteristics of each one. For example, steel is more resistant to impact than aluminum but also subject to rust; wood is durable but high-maintenance.

Finally, to ensure your garage door’s durability, safety and performance, always leave the installation to the pros.

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April, 2018

smart space

Maximize your living quarters by making good use of the space under your staircase.

4

4

clever ways to use under-the-stair space

T

hink the space beneath your staircase is lost? Think again!

There are 1,001 smart ways to turn it into a useful part of your home, regardless of the configuration of the space. Here are a few ideas to get you inspired.

1. Storage space Take advantage of the space beneath the stairs to create storage — you can never have too much storage!

Between kitchen cabinets, alcoves, modular storage units, baskets,

bookshelves and beyond, there’s no shortage of options when it comes to neatly tucking away items of all kinds out of sight. You could even turn each individual stair into its own practical drawer.

3. Cozy space

2. Exhibition space

A well-defined space like the one under your stairs is ideal for a home office, a reading nook, a minibar or a cloakroom (with a cubby for each family member, for example), among many other potential uses.

Have enough storage? Then why not put in a glass display cabinet or some shelves to display souvenirs from your travels, family photos, artwork, or whatever else you’d like to showcase?

Hiding a powder room under the stairs is without a doubt an ingenious use of space. A secret playroom is another option that’s sure to stir up your little ones’ imagination.

4. Secret space

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April 2018 | 13

Host a successful open house

W

hen selling their homes, homeowners can employ several strategies in an effort to drum up interest among potential buyers.

One such strategy is to host an open house, which invites prospective buyers to tour the property.

Realtors have long used open houses to introduce properties to the market, and a well-planned open house can help sellers generate numerous offers in a single day. Whether working with a realtor or listing homes on their own, homeowners can follow a few simple tips to ensure their open house is a success.

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April, 2018

• Generate publicity online. Nowadays many prospective home buyers do the bulk of their research via their computers and devices. By advertising their open houses online, sellers have the potential to reach a wide array of buyers. Many real estate agents employ sites such as Zillow.com and Trulia.com to promote open houses and showcase properties, so sellers can make sure their agents are taking advantage of these wildly popular sites. Some even allow sellers to list their homes on apps that buyers can peruse on their smartphones.

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• Generate publicity in traditional ways as well. Traditional publicity should not be overlooked when promoting an open house. A $5 “Open House” lawn sign is an effective and inexpensive way to attract buyers who are driving through desirable neighborhoods looking for their next homes. While the Internet is a valuable resource to promote your open house, the sheer volume of online listings can make it hard to reach potential buyers. A traditional lawn sign and a listing in your local newspaper are budgetfriendly promotional opportunities that can generate interest in your open house.

• Invite your neighbors. Neighbors can be great salesmen for your home and the community where you live. Invite friendly neighbors to your open house and encourage them to chat with prospective buyers. Buyers will appreciate neighbors’ firsthand knowledge about the community, and their friendliness can help to create a strong first impression that increases buyer interest in your home.

• Consider some changes to your home decor. When hosting an open house, you might not need to go so far as to stage your home, but you may want to make some changes to the decor to make your home more neutral and appealing to buyers from all walks of life. Remove any potentially controversial artwork or decorative items, replacing them with more neutral items that won’t offend or distract any potential buyers.

• Leave the hosting to the professionals. Unless you’re selling the home on your own, resist the temptation to attend your open house. Let your realtor do the work. Your absence can make it easier for potential buyers to see themselves in your home, while your presence may make them uncomfortable or hesitant to explore the property and ask any questions.

When hosting an open house, sellers can take several steps to make their homes more appealing to buyers.

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small spaces

Decorating tips to visually

ENLARGE A SMALL SPACE Have a small room to decorate?

Make sure it doesn’t turn out stuffy or cramped by following these space-faking design tips.

Keep it subtle.

Light-colored flooring is perfect to make a room look bigger. Avoid carpet, however, as it tends to have the opposite effect. Choose wide

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tiles or long floorboards and install them diagonally to make walls appear further apart. Use the same flooring throughout your home for a cohesive finish.

Choose shiny surfaces.

Lustrous tiles, shiny ceilings and metallic wallpapers all reflect light and do a great job making a room

April, 2018

look bigger.

Play with perspective.

A mirror placed next to a window tricks the eye into seeing a bigger space while boosting the room’s lighting. A nice mural featuring a vanishing point is another clever way to create the illusion of space.

Light it up.

Make sure every nook and cranny gets enough light by including lots of decorative lamps and spotlights in your decor. Nothing beats brightness when it comes to making a space appear larger!

Don’t overdo it.

Sheer and airy wins the race.

Keep a pale, cool palette.

Keep the design minimal and functional by incorporating plenty of storage and choosing furniture that’s transparent or serves more than one purpose.

Dress your windows with light, airy textiles to keep visual bulk to a minimum.

Painting walls in pale, cooler hues makes rooms appear larger than they actually are.

UPSTATE Real Estate & Home Services

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April, 2018 | 17

maintenance tips

If you have an old water heater that’s never been maintained, refrain from draining it; this could damage the appliance.

Do water heaters require regular maintenance?

Just got a brand new water heater? To maximize its lifespan, follow these maintenance tips.

If your tap water is particularly hard, ferrous or calcareous, it’s important that you fully empty your hot water tank once every year. To find out how to proceed, refer to the owner’s manual. However, if your water heater is combustion-powered, call a professional to do the work. Regular drainage will prevent sediment buildup at the bottom of the tank, which can damage the appliance. Buildup in a sealed combustion heater 18

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April, 2018

is especially hard on your energy bill, as this particular type of appliance heats water from the bottom. It doesn’t take much accumulated residue to hinder heat transfer and reduce the water heater’s efficiency.

Finally, periodically check on the state of your water heater’s sacrificial anode (the component that protects the exterior from corrosion) and make sure that the safety gasket is still perfectly watertight to avoid unpleasant surprises

What to look for in your next front door

security

P

lain, glass, bulletproof; made of wood, PVC or fiberglass; neutral or vivid; square, mosaic or half-moon windows—when it comes to picking the right door for your main entrance, you have virtually endless possibilities to choose from.

So what should you look for?

Of course, the style of your front door should harmonize well with the architecture of your home. Whether classic or cutting-edge, your door can be used as its own decor element to add personality to your façade. When you shop, bring along a photo of your house and the measurements of the space your door has to fit into. You may also choose to have a door custom made to your specifications for a final product that matches your exact vision and needs.

From a practical standpoint, choose a door with good insulation properties and a low air leak rate. A good rule of thumb is to shop for Energy Star certified models. Make sure the weatherstripping is effective and durable.

Your ideal front door should be sufficiently soundproof, resistant to shocks and easy to maintain. It also needs to be secure: the lock and glass components should be strong enough to stave off an intruder’s attempts to enter your home. Finally, the best way to ensure that your door plays its part flawlessly is to leave its installation to the experts.

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