Are you Interested in a Career in Real Estate?

Nothnagle Realtors is hiring! If you're thinking of real estate as a career, we invite you to find out more about the licensing process and what Nothnagle has to offer you at one of our upcoming Career Day seminars. The seminars are free and there's no obligation, no pressure...just a source for information gathering.

What are some of the benefits of a career in real estate?

• Offers unlimited earning potential.

• Flexibility! As an independent contractor, you make your own hours.

• You are the boss of your own business…..we give you the support and guidance, but it’s your business.

Nothnagle has training and unprecedented support to ensure your success in a new career. Our Fast Trac course offers comprehensive training on every aspect of real estate sales. Attendees graduate from Fast Trac and are prepared to hit the ground running. This course will teach you not just the fundamentals but will give you the confidence you need to be successful.

All real estate companies are not the same....Nothnagle can make the difference! See what our agents have to say about us.

Our Sellers are Offering 8,000 Incentives to Buy Now!

The tax credit may have ended but our sellers are keeping the momentum going! Our participating sellers have REDUCED their homes by $8,000 or more and they are priced to sell! Don't delay, this is a great opportunity and these properties won't last long at these prices.

What's the catch? Nothing! No income limits, no additional paperwork, no additional eligibility requirements.

Click here to see our list of 300+ featured properties. Check back often as our list gets updated frequently.

Housing Survey Indicates It's a Good Time to Buy!

In late 2009 and early 2010, Fannie Mae conducted a national survey of renters and homeowners in regard to the economy and the real estate market. The 2010 survey results were compared to the last survey conducted in 2003 (before the national home prices peaked). Surprisingly, many of the responses did not fluctuate much from seven years earlier.

In the 2010 survey, 64% of respondents indicated that now is a good time to buy a house as compared to 66% in the 2003 survey. Thirty-one percent of respondents indicated it is a VERY GOOD time to buy. Eighty percent of respondents indicated that they believe homeownership is important to our overall economy.

Thirty-seven percent feel that home prices will go up in the next year while 36% feel prices will remain about the same.

Seventy percent of respondents feel that real estate is a "safe investment," as compared to 74% who think putting money in the bank is a safe investment. Only 17% of respondents feel the stock market is a safe investment. In 2003, 83% of respondents felt real estate was a safe investment.


Additional Findings from the Survey:
• 58% of current renters believe now is a good time to buy a house
• 75% of current renters believe owning a home makes more sense and
• 67% plan to buy a home at some point in the future
• 9 out of 10 homeowners are satisfied with their current mortgage
• Survey respondents cited poor credit (22 percent), their income (19 percent), job security (15 percent) and having enough for a down payment (also 15 percent) as the top obstacles to obtaining a home loan.

When they asked current renters for the major reason to buy a house, these were their answers (they could pick multiple answers):
• 78% said it was a good place to raise children
• 75% said because they would feel safe
• 70% said because you have control of your own space
• 66% said owning a home would be a good way to build wealth
• 54% said paying rent is not a good investment

Are you thinking about buying or selling? Wondering if NOW is a good time? Contact a Nothnagle agent today to get specific market information for your neighborhood and learn how you can get started today.

Summer is Here! Tips for Maintaining Your Pool

In previous posts we've discussed home maintenance to prevent costly repairs for your house. With the start of summer officially here, today we're going to focus on pools. Keeping your pool well maintained will prolong its life and delay or prevent costly repairs down the road.

It is important to maintain the correct chemical balance to keep your pool clean, safe and operating at optimal performance. Many stores sell do-it-yourself water testing kits or many pool supply stores will test water samples for you and advise you on what chemicals, if anything, your pool needs to maintain proper chlorine, PH, alkalinity and calcium levels. Aside from your water turning green and cloudy, too high or too low of levels can make your pool unsafe.

Other tips to help you keep a well-maintained pool:

1. Keep chlorine tablets or sticks (or bromine) in the chlorine reservoir at all times.

2. Shock treatments and adding algaecide may be needed periodically, especially when the weather creates ideal conditions (i.e. hot and steamy) for algae to grow. Shock treatments santize the pool water and quickly raise the chlorine level. Algaecide will prevent and control algae. It is much easier to take preventative measures now rather than having to clear water that has already turned green due to an overabundance of algae.

3. Keep filter and pool drains clear and unclogged. Backwashing the filter, skimming leaves out of the pool and regularly cleaning debris from the skimmer are important.

4. Regularly vacuum the pool.

5. Always follow the manufacturer's instructions for your pool type.

Not sure what to do? There are many "experts" at pool supply stores that can assist you, and many resources online to assist you.

Nothnagle Realtors Property Centre to Open 2nd Office

On Wednesday, June 23, 2010, Nothnagle Realtors Property Centre is hosting a Grand Opening celebration of their new branch location at 6789 Main Street in Amherst. Several special guests will be on hand to help with the official ribbon cutting and proclamations are being given from Erie County and the Town of Amherst.

In February 2010, Broker/Owner Mark Pagano launched Nothnagle Realtors Property Centre at 499 Franklin Street in Buffalo. Mark continues to grow and expand, now adding a second branch location serving the area of Clarence, Williamsville and Amherst.

Nothnagle Realtors Property Centre is the first franchise under the Nothnagle name. However, franchising is not unfamiliar territory for us. Nothnagle Realtors was opened in 1948 in Rochester, NY by the late John T. Nothnagle. Using photography as the principal sales medium, Mr. Nothnagle displayed photos of homes for sale in his "Gallery of Homes." Eventually the Gallery of Homes concept evolved into the first real estate franchise system in the country and at its peak operated over 1,100 offices throughout the United States, Canada and the U.S. Virgin Islands before being sold in the 1983.

Contingencies Continued....."The Bump"

In the last post we discussed contingencies and left off with the "Sale and Transfer of Title" contingency that is used when a buyer has an existing property to sell before they can complete the purchase of a new home. Various markets may handle this slightly different but in general when a buyer makes their offer contingent on the sale of another property, the seller is then agreeing to wait.

The buyer then puts their existing home on the market (if they have not already done so) and the wait revolves around getting an offer on that home, getting any contingencies removed (i.e. attorney approval, mortgage, home inspection) and then getting to closing where title is finally transferred. If the buyer of this existing house has to sell their home....well, you can see how this can get drawn out.

Therefore, typically there is an addendum to the original purchase offer that allows the seller to a) give the buyer a deadline so they are not left waiting indefinitely; and b) an "out" should another offer come along. While the deadline is included, if the seller and buyer wish to continue beyond the deadline it can be extended; "b" is where the "Bump" comes in to play.

Here's an example of how it works:

Seller accepts offer from Buyer #1, contingent on Buyer #1 selling their existing home. The Addendum indicates that the "Bump Period" is two calendar days. Buyer #2 comes along and they DON'T have an existing house to sell. Buyer #2 submits an offer with a price and terms that the Seller likes. Seller then serves the "Bump Notice" on Buyer #1. The Bump Notice states that Buyer #1 has two calendar days to remove their "Sale and Transfer of Title Contingency."

If Buyer #1 can remove the contingency within the two day window (i.e. they can get a mortgage loan commitment which does not require the sale of their existing home; they have a non-contingent contract come in on their existing home; or they are able to come up with the cash to pay for the full amount of the house), then Buyer #1 can proceed and will not get "bumped."

If Buyer #1 cannot remove the contingency, then their contract is cancelled and Seller will proceed with the sale to Buyer #2. Buyer #1 gets their deposit back.

What is a Contingency?

If you're in the market to buy or sell, you'll hear the term "contingency" come up frequently. What does it mean? A simple definition is that a contingency (or contingencies because you can have several) are a way of qualifying your obligation to fulfill a contract. Often you'll hear your attorney or real estate agent refer to contingencies in terms of either removing or waiving them.

What are some common contingencies? Most people, when buying a house, need to get financing. Most contracts therefore have a "Mortgage Contingency." This makes the purchase offer subject to the Buyer obtaining a mortgage loan. If the Buyer acts in good faith to apply for the loan but does not qualify, then they typically can get out of the contract and are entitled to a refund of their deposit.

In New York State, contracts are often contingent on Attorney Approval. Both Buyer and Seller typically have an agreed upon time period to have their attorney review the terms and conditions of the contract with them. The attorney typically will go over the contract with their client to make sure all terms are satisfactory. Either the attorney for Buyer or Seller can cancel the contract at this stage.

Another common contingency is to allow for a home or engineer inspection of the property. This gives the Buyer the opportunity to conduct a professional inspection of the property. If the Buyer is not satisfied with the inspection and/or if the Buyer and Seller can not come to terms on issues that come out of the inspection report, again the Buyer can typically get out of the contract and is entitled to a refund of their deposit.

For first-time buyers, the next contingency doesn't apply but for buyers who have another house to sell the contract is often contingent on "Sale and Transfer of Title." This means that they have to sell -- and close (i.e. transfer title) -- on their current property within a certain time frame. Typically most buyer need to sell their current home in order to get financing on a the property they want to buy. Most buyers do not qualify to have two mortgage loans out at the same time because their debt to income ratio would be too high.

Stay tuned for more on the "Sale and Transfer of Title" contingency in the next post where we will introduce a new term ... the "Bump." Check back on 6/15!

Nothnagle Honored with National Relocation Award

Last month, Nothnagle received the "Excellence in Performance" award from SIRVA Relocation. This award is given to one real estate company each year and Nothnagle is the 2009 recipient.

For the performance award, brokers are evaluated on average Days on Market of listings and the List Price to actual Sale Price variance. The award was given out last month at the National Employee Relocation Council's annual convention in Orlando, FL.

Whether you are moving to Rochester or out of Rochester, from corporations to families, whatever your reason to move you can count on Nothnagle REALTORS for a seamless transition. Our in-house relocation department can move you from anywhere to anywhere – across the state, across the country, even around the globe! Our Move Managers can access information on over 10,000 communities worldwide, will help you pinpoint your exact preferences and then can carefully handpick an agent for you that will deliver the same quality service you’ve come to know and expect from your local Nothnagle agent.

Our Sellers are Offering 8,000+ Incentives to Buy a Home!

The tax credit may have ended but our sellers are keeping the momentum going! Check out this week's Gallery of Homes on Saturday for our special advertisement. Sixty-five sellers have REDUCED their homes by $8,000 or more and they are priced to sell! Don't delay, this is a great opportunity and these properties won't last long at these prices.

What's the catch? Nothing! No income limits, no additional paperwork, no additional eligibility requirements.

The Finger Lakes Region

Interested in buying or renting in the Finger Lakes? We have listings! The Finger Lakes offers tremendous opportunities for vacation homes, primary residences and investment property.

The Finger Lakes are a major tourist destination in the west-central section of Upstate New York. The lakes mainly are linear in shape, each lake oriented on a north-south axis. The longest, Cayuga Lake and Seneca Lake, are among the deepest in America. Both are close to 40 miles from end to end, but never more than 3.5 miles wide. These largest lakes resemble the others in shape, which collectively reminded early map-makers of the fingers of a hand. The Finger Lakes area is New York State's largest wine producing region, with over 100 wineries and vineyards. The Finger Lakes region is rich in history and is home to a number of attractions and museums.

Assistance with Home Repairs

Some organizations and municipalities offer "Home Owner Repair Grants" to help homeowners make needed repairs to maintain their properties in good working condition. Each program has different eligibility criteria but primarily the loans and grants are targeted to low to middle income individuals and families who may be having trouble coming up with the resources to make the repairs.

In addition to these resources, did you know that Flower City Habitat for Humanity offers new and gently-used building materials at a fraction of their retail price? Their ReStore is located at 755 Culver Road and proceeds raised from the re-sale of materials go towards building more Habitat homes in Rochester. Each week the ReStore website offers special deals and you can sign up to receive email alerts as new specials are announced.

If you have items to donate, the ReStore accepts cabinetry, replacement windows and doors, sinks, electrical and plumbing fixtures, tools, flooring, wallpaper, unopened latex paint, un-upholstered furniture and working appliances. Visit their website for a complete list.

Save Money with the Nothnagle Stimulus Program!

The tax credit may be over but it's still a great time to buy....and a great time to buy or sell with a Nothnagle agent! You can save big with the Nothnagle Stimulus Program available exclusively to Nothnagle clients.

On average, you can save $1200 on various home-related services such as your home inspection, garbage removal, cable service, carpet cleaning, HVAC cleaning/inspection, cleaning services, storage, locksmith and insurance (including car insurance too!). How do you get started? That's easy, contact any Nothnagle agent direct, call 899-MOVE or click on our "Live Chat" feature on our website to get started.

Click here for a complete list of all of our services and providers.

Nothnagle Numbers Outpace Industry

The National Association of Realtors recently released their 2010 Member Profile. One of the interesting statistics cited in the report indicates that the average number of transactions per agent is 7. At Nothnagle, our agents average TWICE as many transactions per agent....last year's REALTOR Magazine "Top 100" Brokers report gave Nothnagle an average of 14.

So, as a buyer or seller, why should you care about this average? Because it demonstrates the experience and expertise of our agents. We may not be the biggest broker on the Top 100 list (although we did rank #33 in the country) but when you compare the averages across the companies, you will find we are among the most productive agents in the country and the most productive NY company on the list.

While our competition tries to use "funny math" to make themselves look bigger than they are, we don't have to because our numbers -- and 3rd party sources -- speak for themselves.

One reason why Nothnagle agents are selling homes 11 days faster than the competition (1/1-4/30/10)? EXPERIENCE! And the best tools available in the marketplace.

Looking to buy or sell? You need the best....call a Nothnagle agent direct or 899-MOVE to get started today!

Group Introduces Legislation to Cap School Property Tax Increases

The organization "Unshackle New York" recently submitted legislation that would impose a cap on property tax increases. Municipalities and school districts would be capped at 2.5% per year. Additional increases above the cap would have to be approved by voters.

This is similar to legislation previously adopted in Massachusetts, Proposition 2.5. Since its inception, Massachusetts property taxes have dropped from 3rd highest in the nation to 33rd. At the same time, they have seen an increase in high school graduation rates that now surpasses New York and students have some of the highest scores on standardized tests in the nation.

New York is home to the 10 highest taxed counties as a percentage of home value in the country - most of which are located in Upstate New York. A recent Sienna Research Institute poll found 76% of New Yorkers feel a cap on property taxes is needed.

For more information on the proposal or to learn more about Unshackle New York, visit their website.