Homeowners' insurance is a necessity, something every property should have. If you have a mortgage, your lender will require coverage -- and if your home is mortgage-free than you should have coverage anyway to protect what is likely your most valuable asset.
Nothnagle Insurance Agency can make shopping for a policy easier, faster and more convenient...and may even result in a savings for you! The Nothnagle Insurance Agency has an experienced representative on-site ready to work for you. To receive your complimentary quote or review, simply call 756-7320.
Some questions to consider when speaking with the insurance rep:
• What type of coverage do they recommend for your needs?
• What is included -- and what is excluded?
• Are there discounts for safety measures in place in the home (e.g. security system; carbon monoxide and/or smoke detectors, etc.)
• Do you have a home-based business? If yes, you may require additional coverage specific to the type of business you operate. In this case, think in terms of clients dropping by, business equipment, inventory, etc.
• Do you have antiques and jewelry? What coverage are you getting? What coverage do you need?
• How much personal liability protection will the policy provide? What is the cost of additional coverage? What about an "umbrella" policy?
• If you have a loss, will coverage be for actual cash value or replacement cost? Have the insurance representative explain the difference.
• What is the policy deductible? (Generally lower deductibles mean higher premiums, higher deductibles result in lower premiums.)
• How will the policy be paid? If your lender maintains an escrow account, the insurance policy will be paid by the lender -- remember, the house is security for the lender's mortgage. If you pay for property taxes and insurance directly, you will pay the bill.
• Is your home an historic property? If yes, what special coverages are required?
• When a policy says it covers "personal property" what does that term mean? What does it include and exclude?
• How can you reduce policy costs? For instance, if you buy auto and home insurance from the same source will your combined expenses decline?
• What home improvements can you make that would result in lower premiums?
• How are claims handled if you have a loss? For your protection, it's a good idea to photograph or video your home and special possessions -- and then keep such photography in a safe deposit box.
Saturday, December 31, 2011
Thursday, December 29, 2011
Fools Gold!
Thank you to The KCM Crew for posting this insightful and clever article relating the housing market to the surge in gold prices. It really makes you think about the state of today's housing market!
Everyone wants to comment on the current real estate market. They want to talk about how now is not the time to buy a home. Some even argue owning a house has never been a great investment. Most say it will be a long time before real estate again begins to appreciate. It all sounds so familiar to us. It was just a decade ago that many made the same arguments about gold as an investment.
Gold had dropped from over $400 an ounce to $250 an ounce (a 40% decline) from February 1996 to August 1999. People ran from gold as though it was a plague.
Lord William Rees-Mogg, the current Chairman of The Zurich Club, in 1997 said:
“No investment has been so thoroughly exploded as gold; most people think that there will no more be another gold boom than there will be another boom in tulip futures in The Netherlands.”
Two years later in 1999, Don Wolanchuk author of the Wolanchuk Report explained:
“Everybody hates gold. You can’t have a bottom until everybody is out. And everybody is out of the gold sector.”
Everyone knows what happened next. The proclamation of gold’s death was rather premature. Gold rose from $250 an ounce to over $1,500 an ounce in the next twelve years. We see the same situation with real estate today. We are not predicting that real estate will see the same levels of appreciation. I do believe however that the market will rebound strongly.
Those who continued to believe in gold as an investment were rewarded. Those who continue to believe in real estate as a sound investment will also be rewarded.
By the way, Gold closed yesterday at almost $1,600 an ounce!
Everyone wants to comment on the current real estate market. They want to talk about how now is not the time to buy a home. Some even argue owning a house has never been a great investment. Most say it will be a long time before real estate again begins to appreciate. It all sounds so familiar to us. It was just a decade ago that many made the same arguments about gold as an investment.
Gold had dropped from over $400 an ounce to $250 an ounce (a 40% decline) from February 1996 to August 1999. People ran from gold as though it was a plague.
Lord William Rees-Mogg, the current Chairman of The Zurich Club, in 1997 said:
“No investment has been so thoroughly exploded as gold; most people think that there will no more be another gold boom than there will be another boom in tulip futures in The Netherlands.”
Two years later in 1999, Don Wolanchuk author of the Wolanchuk Report explained:
“Everybody hates gold. You can’t have a bottom until everybody is out. And everybody is out of the gold sector.”
Everyone knows what happened next. The proclamation of gold’s death was rather premature. Gold rose from $250 an ounce to over $1,500 an ounce in the next twelve years. We see the same situation with real estate today. We are not predicting that real estate will see the same levels of appreciation. I do believe however that the market will rebound strongly.
Those who continued to believe in gold as an investment were rewarded. Those who continue to believe in real estate as a sound investment will also be rewarded.
By the way, Gold closed yesterday at almost $1,600 an ounce!
Tuesday, December 27, 2011
Mortgage Rates Fall Even Lower!
Last week mortgage rates fell to record lows again, which has been a recurring theme in 2011. According to Freddie Mac, a 30-year fixed mortgage rate fell to 3.94%, which matches the same record low from October 2011. Simultaneously, a 15--year fixed rate fell to the lowest it has ever been at 3.21%.
Is this the best time to consider buying? YES!
These record low rates equal big savings for new homeowners (or current owners who refinance). In 2006, anyone seeking a 15 year fixed mortgage would have been lucky to find a 5% rate.
Here's the breakdown: a $200,000 home purchased in 2006 with a 5% rate on a 15-year fixed mortgage would have had a monthly payment of $1,582. Today at a 3.2% rate for the same price and 15-year mortgage, the payment would be $1,400. That's a yearly savings of $2,184!!!
According to Jed Kolko, Trulia's Cheif Economist, Rochester is a city to watch in 2012. He predicts a stronger housing market, job growth and fewer empty homes. He points out that despite blow after blow to the local economy due to Kodak what used to be other top companies, Rochester is still holding their own.
Sunday, December 25, 2011
Happy Holidays From Nothnagle Realtors!
Nothnagle Realtors would like to wish everyone a very Happy Holiday and a wonderful New Year! Congratulations to those of you who are spending the holidays in a new home for the very first time. We appreciate your loyalty and using Nothnagle as your real estate company! Thank you all who made 2011 such a great year, we are looking forward to an even better year in 2012!
Tuesday, December 20, 2011
Nothnagle Donates to Ronald's House!
During the months of November and December Nothnagle's Corporate and branch offices collected items to donate to Ronald's House located at 333 Westmoreland Drive. On December 22ndth representatives from Nothnagle will visit Ronald's House and deliver food items, cash, gift cards and household supplies. The house provides a warm and peaceful “home-away-from-home” for families traveling to the Rochester area for their child’s medical care.
The first Ronald McDonald House opened in Philadelphia in 1974. Since then, many other communities followed suit recognizing this same need in their own community. Today, there are 300 Houses throughout the United States, and over 30 countries around the world. In 1996, the Rochester Ronald McDonald House merged with the local chapter of Ronald McDonald Children's Charities. Today there is the House on Westmoreland which hosts up to 20 families at once and is run by over 300 volunteers and a small staff as well as the House within the Hospital located atop the new, state-of-the-art Pediatric Intensive care Unit at Golisano Children’s Hospital at Strong. The House within the Hospital is for the families of critically ill or injured children receiving treatment at the hospital.
The first Ronald McDonald House opened in Philadelphia in 1974. Since then, many other communities followed suit recognizing this same need in their own community. Today, there are 300 Houses throughout the United States, and over 30 countries around the world. In 1996, the Rochester Ronald McDonald House merged with the local chapter of Ronald McDonald Children's Charities. Today there is the House on Westmoreland which hosts up to 20 families at once and is run by over 300 volunteers and a small staff as well as the House within the Hospital located atop the new, state-of-the-art Pediatric Intensive care Unit at Golisano Children’s Hospital at Strong. The House within the Hospital is for the families of critically ill or injured children receiving treatment at the hospital.
Sunday, December 18, 2011
Get the Support Your Need at Nothnagle!
If you are thinking of getting into the real estate business or considering a switch from your current broker, let us tell you how easy it is at Nothnagle!
Nothnagle provides agents with the most support services of any real estate company in the region. We also give agents the largest support staff—over 100 people working behind the scenes to support you.
As one of our agents, you can use as many support services as you like. It’s completely up to you and the way you work. All services are provided free of charge too!
Here is a sampling of the support services we provide:
•Placing company-paid print advertising
•Placing company-paid self promotion ads
•Preparing presentation packets
•Preparing listing packets
•Producing online Guided Tours for your listings
•Listing your home on Rochester’s most popular real estate web site
•Scheduling appointments for showings
•Entering new listings into MLS
•Providing agents and sellers with copies of all paperwork
•Coordinating transactions and paperwork for house closings
•Ordering “Just Listed” postcards
•Sending out mailings
•Maintaining your mailing list
•Providing one-on-one support
•Providing training
•Brainstorming innovative sales strategies
•Providing carefully screened contractors to facilitate home sales
•And much more
All of these support services are available to Nothnagle agents, free of charge. Use as many—or as few—as you like. It’s totally up to you.
There’s a lot that goes into being successful at real estate. No real estate company does more than Nothnagle to give you the support you need.
Talk to us about switching to Nothnagle. Find an office near you and then call a Branch Manager to learn more. Our agents tell us they wish they had switched sooner!
Nothnagle provides agents with the most support services of any real estate company in the region. We also give agents the largest support staff—over 100 people working behind the scenes to support you.
As one of our agents, you can use as many support services as you like. It’s completely up to you and the way you work. All services are provided free of charge too!
Here is a sampling of the support services we provide:
•Placing company-paid print advertising
•Placing company-paid self promotion ads
•Preparing presentation packets
•Preparing listing packets
•Producing online Guided Tours for your listings
•Listing your home on Rochester’s most popular real estate web site
•Scheduling appointments for showings
•Entering new listings into MLS
•Providing agents and sellers with copies of all paperwork
•Coordinating transactions and paperwork for house closings
•Ordering “Just Listed” postcards
•Sending out mailings
•Maintaining your mailing list
•Providing one-on-one support
•Providing training
•Brainstorming innovative sales strategies
•Providing carefully screened contractors to facilitate home sales
•And much more
All of these support services are available to Nothnagle agents, free of charge. Use as many—or as few—as you like. It’s totally up to you.
There’s a lot that goes into being successful at real estate. No real estate company does more than Nothnagle to give you the support you need.
Talk to us about switching to Nothnagle. Find an office near you and then call a Branch Manager to learn more. Our agents tell us they wish they had switched sooner!
Friday, December 16, 2011
Realtor of the Year Honored with Proclamation
On October 6, 2011, Bob Malone of Nothnagle Realtors was awarded as Realtor of the year by the Greater Rochester Association of Realtors. The award is presented to an association member who demonstrates distinguished service in the advancement of the ideals of the real estate profession and shows involvement as an ambassador of the association.
Tuesday evening at 6:00, Monroe County Legislature honored Malone with a proclamation to recognize his achievement as Realtor of the Year. The meeting took place in the Monroe County Legislature Chambers located at 406 county Office Building, 39 W. Main Street in Downtown Rochester.
“Malone is a leader in the real estate community, always ready to give back by volunteering or helping a new agent”, said John Majchrzak, manager of Nothnagle's Chili-Ogden office.
“It makes me extremely proud that the past two recipients of this prestigious award have been from Nothnagle Realtors. Bob deserves this tremendous recognition for all of his hard work and commitment to the community”, said Armand D’Alfonso, President & CEO.
Tuesday evening at 6:00, Monroe County Legislature honored Malone with a proclamation to recognize his achievement as Realtor of the Year. The meeting took place in the Monroe County Legislature Chambers located at 406 county Office Building, 39 W. Main Street in Downtown Rochester.
“Malone is a leader in the real estate community, always ready to give back by volunteering or helping a new agent”, said John Majchrzak, manager of Nothnagle's Chili-Ogden office.
“It makes me extremely proud that the past two recipients of this prestigious award have been from Nothnagle Realtors. Bob deserves this tremendous recognition for all of his hard work and commitment to the community”, said Armand D’Alfonso, President & CEO.
Wednesday, December 14, 2011
Nothnagle Realtors Donates to DePaul
For the last four years Nothnagle Realtor's Corporate Office has collected donations for DePaul. DePaul is a private not-for-profit organization committed to providing quality services to the elderly, persons in recovery from a mental illness, developmental disabilities, addictions, and those with a history of homelessness.
DePaul was founded in Rochester in 1958 as a child guidance center. Formerly a not-for-profit subsidiary of the Catholic Family Center, DePaul was originally established to meet the mental health needs of children in the Diocesan School District. Today DePaul offers services in 18 counties across two states, operates over 2,700 beds and serves more than 5,000 individuals.
This year, Nothnagle's Corporate divisions are donating holiday gifts to residents in the Edgerton Square location (435 Dewey Avenue), a facility for mentally disabled adults. These donations help the Edgerton Square staff provide gifts for all of their residents. With New York State budget cuts, this facility has experienced considerable funding cut backs. They very much appreciate donations and help during the holiday gift-giving season.
Donations can be made by contacting: DePaul, 1931 Buffalo Rd, Rochester, NY 14624 at 585-426-8000. For more information, you may also contact Shirley Adams at 585-756-7241.
DePaul was founded in Rochester in 1958 as a child guidance center. Formerly a not-for-profit subsidiary of the Catholic Family Center, DePaul was originally established to meet the mental health needs of children in the Diocesan School District. Today DePaul offers services in 18 counties across two states, operates over 2,700 beds and serves more than 5,000 individuals.
This year, Nothnagle's Corporate divisions are donating holiday gifts to residents in the Edgerton Square location (435 Dewey Avenue), a facility for mentally disabled adults. These donations help the Edgerton Square staff provide gifts for all of their residents. With New York State budget cuts, this facility has experienced considerable funding cut backs. They very much appreciate donations and help during the holiday gift-giving season.
Donations can be made by contacting: DePaul, 1931 Buffalo Rd, Rochester, NY 14624 at 585-426-8000. For more information, you may also contact Shirley Adams at 585-756-7241.
Monday, December 12, 2011
How to Buy Your First Home
Property prices are the lowest they've been in a decade or more. Mortgage rates continue to hover near historic lows. This is great news for first-time buyers.
"It's a great time to buy if you've got the credit," says Andrew Firoved, chief executive and founder of CounselorDirect.com. "They say buy low, sell high, and you're buying low."
To make sure you buy low and smart, here are a few tips:
Make sure buying is for you. If you are planning to move in the next few years or if your job outlook is uncertain, buying might not be a good move. After all, the days when houses could quickly be flipped for more money are all but gone. If you don't feel that you are going to stay in your job or current location then consider renting.
Do a credit check. Cash and good credit are critical to snagging a bargain home and keeping it. Before you start looking, make sure you have the cash on hand for a down payment and a mortgage lender who is willing to provide you with a home loan at an affordable rate. Pre-approval can help expedite the closing of your purchase.
Consider a down payment and the alternatives. It is suggested that first-time home buyers cough up 20% of the home value. This immediately adds equity to the house and lowers monthly payments. However, many first-timers don't have the cash to put up 20%. No need to worry; there are options that should work for you. There are several government-backed loans with 0% to 3.5% down, and a handful of other alternatives.
Be realistic about costs. Don't look for a home that will eat up all of your monthly income. In addition to mortgage and principal payments, buying a home means paying for insurance, maintenance and real estate taxes. One of the biggest mistakes first-time home buyers make is they don't leave themselves with enough money.
Don't cut corners on inspections. Always cough up the extra cash for a good home inspection, expecially if you're buying a foreclosed home. A home inspection is key to really understanding the condition the home is in.
If you're thinking about buying a home, we can help. Get started here.
"It's a great time to buy if you've got the credit," says Andrew Firoved, chief executive and founder of CounselorDirect.com. "They say buy low, sell high, and you're buying low."
To make sure you buy low and smart, here are a few tips:
Make sure buying is for you. If you are planning to move in the next few years or if your job outlook is uncertain, buying might not be a good move. After all, the days when houses could quickly be flipped for more money are all but gone. If you don't feel that you are going to stay in your job or current location then consider renting.
Do a credit check. Cash and good credit are critical to snagging a bargain home and keeping it. Before you start looking, make sure you have the cash on hand for a down payment and a mortgage lender who is willing to provide you with a home loan at an affordable rate. Pre-approval can help expedite the closing of your purchase.
Consider a down payment and the alternatives. It is suggested that first-time home buyers cough up 20% of the home value. This immediately adds equity to the house and lowers monthly payments. However, many first-timers don't have the cash to put up 20%. No need to worry; there are options that should work for you. There are several government-backed loans with 0% to 3.5% down, and a handful of other alternatives.
Be realistic about costs. Don't look for a home that will eat up all of your monthly income. In addition to mortgage and principal payments, buying a home means paying for insurance, maintenance and real estate taxes. One of the biggest mistakes first-time home buyers make is they don't leave themselves with enough money.
Don't cut corners on inspections. Always cough up the extra cash for a good home inspection, expecially if you're buying a foreclosed home. A home inspection is key to really understanding the condition the home is in.
If you're thinking about buying a home, we can help. Get started here.
Saturday, December 10, 2011
Tips for Selling in the Winter
The winter can be a challenging time of year to have your house on the market, especially with issues that are only present this time of year. The good news is that if you have activity on your listing, it means the buyers are serious. Below are some tips to help you overcome the seasonal challenges when showing your home.
Easy Access: Many people like to get from the car into the house as quickly as possible in the extreme cold. Make sure your driveway and walk way is shoveled. Have your agent provide specific details about parking in the listing remarks if it is a condo/townhouse. Also, provide an area for shoes as soon as people enter the house and provide slippers or disposable booties as an added convenience.
Keep Odors Away: During this time of year we keep our windows closed which doesn’t let fresh air circulate. Bad smells, especially from pets can be a big deterrent to buyers. Purchase non-offensive air fresheners that are not overpowering. Another idea is to have cookies baking in the oven on a low temperature to let the smell penetrate the house.
Don't Over Decorate: Minimal holiday decorating gives the home a sense of warmth and cheer, but don't over decorate because it doesn't allow the home to show its best features.
Let There Be Light: Since it gets dark so early, turn on all of the lights in the home, even in closets. Also, encourage day time showings if possible because the light allows the home to show better. It is a good idea to leave lights on when you go out because you never know when a potential buyer could drive by!
Easy Access: Many people like to get from the car into the house as quickly as possible in the extreme cold. Make sure your driveway and walk way is shoveled. Have your agent provide specific details about parking in the listing remarks if it is a condo/townhouse. Also, provide an area for shoes as soon as people enter the house and provide slippers or disposable booties as an added convenience.
Keep Odors Away: During this time of year we keep our windows closed which doesn’t let fresh air circulate. Bad smells, especially from pets can be a big deterrent to buyers. Purchase non-offensive air fresheners that are not overpowering. Another idea is to have cookies baking in the oven on a low temperature to let the smell penetrate the house.
Don't Over Decorate: Minimal holiday decorating gives the home a sense of warmth and cheer, but don't over decorate because it doesn't allow the home to show its best features.
Let There Be Light: Since it gets dark so early, turn on all of the lights in the home, even in closets. Also, encourage day time showings if possible because the light allows the home to show better. It is a good idea to leave lights on when you go out because you never know when a potential buyer could drive by!
Wednesday, December 7, 2011
Is This the Greatest Time in History to Buy?
Over the last few months mortgage rates have been at a record lows. The rate at which your obtain your mortgage can affect your monthly payment drastically, which is why now is a much more affordable time compared to what is typical.
Taking the average home price in the Greater Rochester Area into account, which is relatively low on average and steady, now could be the time to look into buying a home.
In 2003, a 30 year mortgage rate was at 5.88% and today they average 4%. So what does that mean?
It means that if you purchased home for $250,000 8 years ago, your monthly payment with a 30 year mortgage is $1,478 84. For the same price today also with a 30 year mortgage, your monthly payment is $1,193.15. That's a substantial difference of $285.30 less a month!
Contact a mortgage professional today to get pre-qualified and explore your financing options.
Taking the average home price in the Greater Rochester Area into account, which is relatively low on average and steady, now could be the time to look into buying a home.
In 2003, a 30 year mortgage rate was at 5.88% and today they average 4%. So what does that mean?
It means that if you purchased home for $250,000 8 years ago, your monthly payment with a 30 year mortgage is $1,478 84. For the same price today also with a 30 year mortgage, your monthly payment is $1,193.15. That's a substantial difference of $285.30 less a month!
Contact a mortgage professional today to get pre-qualified and explore your financing options.
Monday, December 5, 2011
Nothnagle is Rochester's Favorite Realtor for the 10th Year!
Nothnagle Realtors has been voted Rochester's favorite realtor for the tenth year in a row through the Democrat & Chronicle's Rochester's Choice Awards.
Nothnagle Realtors would like to thank the Rochester community for their ongoing support!
Nothnagle Realtors would like to thank the Rochester community for their ongoing support!
Saturday, December 3, 2011
Home Sales on the Rise! 17% Nationwide!
The National Association of Realtors recently released their 2011 3rd Quarter Housing Report. In the report, they showed that combined sales of single family homes, condos and co-ops increased in all 50 states in comparison with last year's 3rd quarter. Here is the breakdown by state:
Thursday, December 1, 2011
40th Annual Candlelight Night in Pittsford December 6th!
Every year Nothnagle Realtor's Pittsford branch, located at 33 S. Main Street in the Village of Pittsford, participates in Candlelight Night. This year the 40th Annual Candlelight night is on December 6th and Santa will be at Nothnagle Realtors from 6-9pm. Come by for light refreshments and to have your picture taken with Santa!
In addition to Candlelight Night, the Pittsford branch is also collecting toys & gifts for the Hillside Children's Center, coats & winter clothing for the Open Door Mission as well as toiletries, school supplies, and non-perishable food for battered women. If you are interested in helping, please call (585) 381-4770.
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