Upstate Real Estate November 2018

Real Estate UPSTATE

& HOME SERVICES

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HOME OF THE MONTH

137 Sunset Ridge Road Cooperstown, NY 13326 4 Bedrooms, 5 Bathrooms 5,190 sq. ft. $899,000

Jonathan Dukochitz • 646-320-7715

How to tell when a flipped house is a flop Page 3

Must-do maintenance for your heating appliances Page 8 VOLUME 1 | ISSUE 11 | NOVEMBER 2018

Can solar panels increase your home’s value?

Page 18

Real Estate UPSTATE

& HOME SERVICES

A Publication of The Daily Star

102 Chestnut Street Oneonta, NY 13820 607-432-1000 www.thedailystar.com PUBLISHER Fred Scheller fscheller@thedailystar.com (607) 441-7214

ADVERTISING DIRECTOR Valerie Secor vsecor@thedailystar.com (607) 441-7235

GRAPHIC DESIGNER Tracy Bender

How to tell when a flipped house is a flop................................ 3 What is real estate crowdfunding?.. ...................................... 4 Gray is here to stay in home designs..................................... 5 Spotlight on exotic woods................................................ 6 Garbage disposal units: types and features.............................. 7 Must-do maintenance for your heating appliances. . ..................... 8 Six home trends to consider. . ............................................ 9 2

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November 2018

Three considerations when choosing to buy a house or condo......... 10 Seven hot island paradises to escape to this winter.................... 12 How to upcycle fireplace ash............................................ 14 Buying a snowblower: types and features............................... 15 How to save up for your first home.. .................................... 16 Five factors to consider when choosing a temporary car shelter....... 17 Can solar panels increase your home’s value?.......................... 18

How to tell when a

flipped house is a

If you’re thinking about making a down payment on a house that’s been flipped, here are a few precautions you should take. You don’t want to find out months or years after moving into your dream house that the wiring isn’t up to code or that the basement has a serious mold problem.

• Confirm that the developer used a licensed contractor. Sometimes amateur real estate investors will try to fix up run-down houses themselves,

often resulting in shoddy workmanship.

• Ask to see all building permits relating to the property and confirm that any upgrades to the house passed inspection. It’s important to confirm that renovations were done according to the building codes specified by your municipality.

• Hire professionals to inspect the house for termite damage as well as mold and water damage. It can be difficult to recognize these kinds of

problems underneath the shiny new features installed to sell the house.

Newly renovated houses may be equipped with brand-new floors, fresh coats of paint and the latest appliances, but make sure to investigate potential risks. In some cases, the house’s like-new appearance may mask serious structural problems that the developer failed to address in the interest of turning a quick profit.

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freepik.com

What is real estate crowdfunding?

Y

ou’ve probably heard of crowdfunding in relation to start-ups, charitable causes and personal projects. But did you know that this internet-based method of raising money is also becoming a popular way of funding real estate development?

Real estate crowdfunding involves many peo4

ple pooling their money together to finance a real estate project. Websites like Fundrise and RealtyMogul have expanded on the basic model used by well-known websites like Kickstarter and GoFundMe to turn the concept of crowdfunding into an investment tool. The crowdsourcing model offers opportunities to individuals who wouldn’t otherwise be

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November 2018

financially able to make large investments in real estate.

There are two basic types of real estate crowdfunding investment: debt crowdfunding and equity crowdfunding. In the first scenario, investors pay for the loan needed to cover the construction costs for the building project and are compensated as the property owners make mortgage payments.

With equity crowdfunding, investors buy equity in real estate to become become partial owners and earn money through rent and property sales.

If you’d like to invest in real estate but are worried about the costs and responsibilities, real estate crowdfunding may represent the right investment opportunity for you.

GRAY is here to stay in home designs

D

ecorating a home in neutral tones has long been recommended as a way to sell a home quickly. But the color gray also provides a blank canvas for homeowners who have no intention of putting their homes on the market anytime soon.

Beige and white have long been go-to colors for neutral living spaces. But many interior decorators now look to gray as the neutral color of choice.

Design experts advise that

gray has a broad range. Gray can include everything from silver to charcoal to a dusty cloud. According to the trendsetters at Glidden Paints, gray coordinates well with other colors. Plus, the neutral appeal of gray boasts a timeless quality.

Gray is not a clear-cut color that’s simply a 50-50 blend of white and black. Gray has subtle nuances that can lean toward blues, greens, taupes, and more depending on the lighting and surrounding furnishings. That means that homeowners who are ready to

used throughout homes in entryways, bathrooms and kitchens. It can make design sense to maintain continuity throughout by dabbling in gray elsewhere.

Designers have shown how gray does not have to be cold, industrial or gloomy. It can be sophisticated in just about any room of the house. More designers are now leaning toward warmer variations of gray, such as taupes and blends dubbed “greige,” that are beautiful but not as stark as pure gray.

COOPERSTOWN COUNTRYSIDE! Exquisite Timberpeg country home, serenely nestled above the bustling village of Cooperstown. Just minutes away from all that Cooperstown has to offer. This lovingly cared for home has an abundance of special qualities that really must be experienced to truly behold!

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replace their furniture or accessories need not necessarily repaint if they’ve previously decorated in shades of gray.

Individuals need only replace small items to produce a big effect in rooms where gray is dominant. Because gray is so neutral, it works with soft, calming colors in various pastels, but equally as well with bright reds, yellow and oranges, according to Scott Bodenner, a Brooklyn-based textile designer.

Gray also is a predominant color in natural stones

Adam Pierce

NYS LICENSED REAL ESTATE SALESPERSON, PSA

Phone: 607-431-2540 x110 Mobile: 607-287-2956 adampierce@kw.com www.UpstateNYHomesAndLand.com

137 Sunset Ridge Rd. • Cooperstown, NY 13326 • $899,000 Jonathan Dukochitz NYS LICENSED REAL ESTATE SALESPERSON, PSA 646-320-7715 jonadok9@gmail.com

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Spotlight on

exotic woods

E

xotic woods such as teak, rosewood, mahogany, ebony and others are perennially in demand due to their beauty and durability. If you’re thinking of using one type or another for your floors or furniture, here’s what you need to know.

Solid wood and veneers The distinctive grain and veining of exotic species make attractive and long lasting floors and furniture. However, solid pieces of these types of wood can be very expensive.

If you want the beauty without the high price tag, look to veneers; thin layers of your chosen wood glued to planks of particleboard or similar types of materials.

Moisture levels Because wood is a living material, it’s sensitive to varying temperature and humidity levels in the environment. To avoid it swelling and shrinking every time the weather changes, look for wood that has a humidity level of around eight percent. It’s best to work with reputable businesses that you can be sure will sell you high quality products.

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Discover exotic wood Here are some of the less commonly known exotic wood species available: Jatoba: also known as Brazilian cherry, this is one of the hardest woods in the world, making it a good choice for floors. Over time, its color changes from salmon red to deep reddish-brown.

Ipe: this dense wood is incredibly durable and good for outdoor projects like patios or furniture. Its color ranges from reddish to olive brown, and can be very light or very dark, depending on the piece.

Padauk: This African wood is rot-resistant, making it another good choice for outdoor projects. Because of its beautiful red to deep reddish-brown color, it’s also used for specialty objects like musical instruments.

Purpleheart: also called amaranth, this wood starts out pale grey, and turns a dark eggplant hue when exposed to natural light. It’s a good choice for furniture and accent pieces.

Garbage disposal units:

types and features

M

odern garbage disposal units can grind larger amounts of food waste in short amounts of time. They’re also safer, quieter and less smelly than their predecessors. Here’s a closer look at contemporary food disposers.

Types

Waste is reduced to tiny pieces that go directly down the drain.

• Batch feed: This type of food disposer needs to be covered with a specially fitted lid before it goes to work. While it’s less common, it’s a safer choice, making it ideal for people with young children at home.

There are two basic types of garbage disposal units — continuous feed and batch feed.

• Continuous feed: This is the most popular type of disposal unit. It allows food to be pulverized quickly, which minimizes the risk of blockages.

Newer garbage disposal units are insulated to reduce their signature grinding sound. Certain models also come with a shield to alleviate unpleasant smells.

Features

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Must-do maintenance for your heating appliances Using a heating appliance that isn’t connected to your home’s central heating system always presents a certain amount of risk. To be both safe and warm this winter, make sure to maintain your heating appliance. Not only will you rest easy, but the appliance itself will work more efficiently.

Wood-burning oven or fireplace Get your chimney inspected and swept once a year. Always remove ashes once you’re done with the fire and keep the glass and walls of the unit clean.

Wood pellet stove Use high quality pellets — they leave less ash than inexpensive brands — and always 8

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November 2018

empty the ash trap before it gets full. Keep the burner, glass and exterior of the stove clean and free of dust.

Natural gas or propane stove When it comes to these appliances, yearly inspections are a must. However, when combustible gases are involved, it’s best not to attempt to do maintenance or repairs yourself: always hire a professional.

Portable heater Before using it for the first time of the season, and then periodically over the winter, wipe the heater with a damp cloth; just be sure it’s unplugged and cool to the touch. If there’s a filter, keep it clean.

H

ome design and real estate trends come and go, but once in awhile certain concepts exhibit considerable staying power. Staying abreast of what’s hot and what’s not can be a bit overwhelming. This list breaks down some of the trends that have made a splash and figure to be around for some time.

1. Open concept spaces: Watch the DIY Network or HGTV and you’ll quickly understand that open floor plans remain highly coveted. Many modern, newly built homes have a large multi-purpose area that blurs the borders of the kitchen, dining area and family room. These homes make it easy to entertain and keep an eye on youngsters.

2. Patterned fabrics and upholstery: Solids will always have their place in home decor, but patterned furnishings are making a name for themselves as well. Today’s homeowners are not afraid to experiment with geometric and floral patterns alongside neutral colors to showcase their personalities, advises the real estate industry resource The Lighter Side of Real Estate.

home trends to consider 3. Farmhouse chic: Many people want the ambiance of a rustic, antique farmhouse even if they live miles away from the country. Reclaimed wood on the walls, exposed beams, eclectic accessories, and a big wood table in the dining room are hallmarks of farmhouse style. This is a fun design trend that can be personalized for cozy appeal.

4. Hidden appliances: Making appliances disappear into the background is a growing trend. This is achieved

with products that blend in with or are hidden behind cabinetry.

5. Row homes: Popularized in the 19th century and then again in the 1960s and 1980s, townhouses are making another comeback. Townhomes made up about 12.4 percent of all new construction in the single-family home market last year, according to data from the U.S. Census Bureau.

According to a Realtor.com® survey released in October 2017, townhouses were the most popular form of housing after single-family homes. They were especially popular among millennial buyers, about one-third of whom planned to purchase a townhouse in 2017.

6. Multigenerational homes: Buyers between the ages of 53 and 62 are increasingly looking at homes that can accommodate children older than 18, with a room or apartment available to care for an aging parent, states the National Association of REALTORS®.

Home trends continue to evolve, and some trends have exhibited more staying power than others.

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2. How much space and privacy do you need?

Most condos are less spacious than many houses and rarely include a private yard. In a condo, you’ll also be living in close proximity to your neighbors, as well as sharing common areas with them. If you really value your privacy, a condo may not be for you.

3. How much time are you willing to spend on maintenance?

While owning a house means taking responsibility for all upkeep related to your home and yard, in a condo you aren’t responsible for general building maintenance.

If you aren’t comfortable managing all maintenance and repairs yourself, you may be better off in a condo.

Three considerations when choosing to buy

A HOUSE OR CONDO Here are three key questions to consider when deciding whether to buy a house or a condo.

1. How much money are you looking to spend?

Condos are generally less expensive than houses, often making it possible for people to own property in areas that might otherwise be out of economic reach. With a house, you’re responsible for all costs relating to owning your property, such as mortgage payments, property tax, utilities and house and yard maintenance. If you buy a condo, you’ll pay a monthly fee to cover costs like heating, electricity, water, maintenance, landscaping, security and possibly for additional amenities like a gym or pool.

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Seven hot island paradises to escape to this

A

re you dreaming of sunshine and scenic beaches? Here are seven magnificent islands and archipelagos around the world that won’t disappoint.

1. Aruba: lounge on lovely beaches of soft, white sand, swim in “Conchi,” a natural pool formed by volcanic stone circles, go scuba diving and take in Oranjestad’s colonial architecture.

2. Guadeloupe: go hiking along the volcano Soufrière Saint Vincent, relax on white- or black-sand beaches amid beautiful scenery, enjoy authentic Creole cuisine and go dolphin or whale watching.

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3. Martinique: bask in the sun on tranquil beaches, dive off of Diamond Rock, discover tropical flora at the Jardin de Balata and travel through gorges en route to a magnificent waterfall at Les Gorges de la Falaise.

4. New Caledonia: become acquainted with Kanak culture while you kitesurf on Anse Vata Bay, explore magical grottos and discover an array of spectacular landscapes including dense forests, immaculate beaches and turquoise creeks.

5. Phi Phi Islands: gaze upon the limestone cliffs, visit Maya Bay (made famous by the film The Beach), explore Thailand’s incredible snorkeling sites and party on the beach at night.

6. Maldives: stay in a villa propped up on stilts, fly over the isles on a seaplane, take part in your favorite aquatic sports and unwind on exquisite beaches.

7. Roatán: view Honduras’ marine life from a glass-bottom boat, see animals roaming free in Gumbalimba Park, lie on beaches with clear water and go zip-lining at Mayan Eden Park.

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How to upcycle fireplace ash

A

fter snuffing out the embers in your fireplace, you safely store the ashes outside in a metal container. But then what? Instead of sending them to the local landfill, put them to good use around the house. First, make sure the ashes are completely cool and then employ them in one of the following ways:

To de-ice

Sprinkle ash on the ice covering your balcony, stairs and driveway. In moderate conditions, it works as well as rock salt for melting snow and providing traction. It’s a more affordable and eco-friendly option.

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To clean up

To garden

Pro tip: measure the pH

Ash works well to polish silver and copper and to clean windows. All you need to do is dip a clean, damp cloth in some ash and scrub. Make sure there’s no trace of dirt or sand to avoid streaking your glass.

Just like lime, wood ash works well to neutralize the acidity of soil. Use it only once a year and sparingly — no more than one third of a cup per 10 square feet on your flowerbed, vegetable patch or lawn.

of the soil before adding ash. If it’s higher than 7, it doesn’t need to be neutralized.

Only use ash from wood that hasn’t been treated or painted and never burn pressed wood or particleboard in your fireplace.

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Buying a snowblower:

types and features Are you on the hunt for the perfect snowblower? Wondering which one you should buy? Here’s what you should know about the different available types.

Electric shovels: ideal for small areas like balconies, sidewalks or very small driveways. They can remove snow up to four inches deep.

Electric snowblowers: best for small, flat driveways. They’re typically unable to remove icy or heavy snow.

Single-stage snowblowers: also best for small driveways with trouble lifting icy and heavy snow. They can remove up to eight inches of snow.

Two-stage snowblowers: suited for long, wide or sloped driveways. They have no problem moving over eight inches of snow, even if it’s heavy or mixed with ice. However, they take up a lot of room, so make sure you have

sufficient storage space.

Three-stage snowblowers: perfect for large driveways and areas that regularly get huge amounts of snow. They can be up to 50 percent more powerful than two-stage snowblowers.

Now that you’ve determined the type of snowblower you need, you can start looking at the different models that are available. Some have heated handgrips. Others come with power steering, a feature that makes using a big machine much easier.

It’s best to invest in a popular brand because if replacement pieces are ever needed, they’ll be more readily available.

Always buy the best model of snowblower you can afford. Inexpensive ones tend to require more in the way of maintenance and repairs.

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save up FOR YOUR first home HOW TO

H

16

ome ownership is a dream for people across the globe. Many people save for years before buying their first homes, squirreling away every dollar they can with the hopes they can one day become homeowners.

But thanks to factors beyond their control, even the most devoted savers can sometimes feel like their dream of home ownership may never come true. According to the Pew Research Center, American workers’ paychecks are larger than they were 40 years ago, but their purchasing power is essentially the same. Things aren’t much different in Canada, where analysis from Statistics Canada and the Bank of Canada has shown that, since 2015, wage growth in Canada has been weaker than in the United States.

Various challenges can make it difficult to buy a home. However, some simple strategies can help prospective home buyers build their savings as

they move closer to the day when they can call themselves “homeowners.”

• Determine where your money is going. If you’re finding it hard to grow your savings, audit your monthly expenses to determine where your money is going. Using exclusively debit or credit cards can simplify this process, as all you need to do is log into your accounts and see how your money was spent over a given period.

If you routinely use cash to pay for items, even just to buy coffee on the way to work, keep a notepad handy so you can jot down each expense.

Do this for a month and then examine how you spent your money.

Chances are you will see various ways to save, and you can then redirect that money into your savings account.

• Become a more savvy grocery shopper. Another great way to save more money is to alter something you already do each month: grocery shopping. If you haven’t already, sign

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November 2018

up for discount clubs at your local grocer. This is a largely effortless way for shoppers, especially those buying food for families, to save considerable amounts of money. Shopping sales at competing grocery stores also can save money.

• Dine in more often. The U.S. Department of Agriculture says that Americans spend, on average, 6 percent of their household budgets on food. However, the USDA also notes that Americans spend 5 percent of their disposable income on dining out. If these figures mirror your spending habits, you can nearly cut your food spending in half by dining out less frequently. That might be a sacrifice for foodies, but it can get you that much closer to buying your own home.

Saving enough money to purchase your first home is a worthy effort that can be made easier by employing a few budget-friendly strategies.

Five factors to consider when choosing a

TEMPORARY CAR SHELTER Do you want to buy a temporary car shelter? Good idea. These devices can help alleviate snow-related headaches. But how do you select the right one? When making your choice, here are five important things to consider.

1. Size: take note of your drive-

4. Material: choose a shelter

way’s dimensions before you start shopping — and don’t forget to think about the space you’ll need to store your shelter over the summer.

2. Structure: ideally, the shelter’s frame should be made of stainless steel and around half an inch thick. Choose a structure whose top is rounded or has a steep slope to better deal with snow accumulation — it’ll make it easier to keep the roof clear.

3. Anchors: whether temporary or permanent, make sure you use the appropriate type of anchor for your car shelter. Know that using cement blocks to hold a shelter down isn’t considered safe.

made of a laminated canvas that’s been treated to protect it against UV rays and has reinforced contact points within the frame. For extra durability, buy a car shelter that’s made for commercial or industrial use.

5. Windows and doors: for easier access and if possible (based on the room available on your property), opt for a shelter with two doors; one in front and one in back. Make sure that the windows offer optimal visibility when pulling out into the road.

Check your municipality’s laws regarding temporary car shelters before buying and installing one.

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Can solar panels increase your home’s value?

You’ve probably heard solar panels can reduce your electricity bill and lead to major savings over time, but can they also increase your home’s resale value? Over the last few years, researchers have discovered that in fact, they do.

While installing solar panels may seem like a costly investment, a recent study by the Lawrence Berkeley National Laboratory (the Berkeley Lab) found that Americans are willing to pay more for homes that have solar photovoltaic (PV) systems. The study estimates that buyers typically pay about four dollars per watt of solar power installed, meaning that a five-kilowatt system can lead to an added value of $20,000. Even given the costs of solar panel installation, the study suggests homeown18

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ers end up making money when selling their homes.

It’s less clear whether solar panels add value when homeowners rent solar power systems instead of buying them outright. Because of the upfront costs associated with solar panels, many Americans choose to rent PV systems. These leases often last for 20 years and can make selling your house more complicated. Nonetheless, a 2016 survey by the Berkeley Lab found that leased solar energy systems don’t reduce a home’s overall value and in some cases add value. Overall, real estate experts are finding that in an era when homebuyers are looking to go green, investing in solar panels — whether you buy or lease them — is likely to make your home more valuable.

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