Hudson Valley Musing

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How does the STAR Program affect my taxes?

How does the STAR Program affect my taxes?

This is a question frequently asked by home buyers in New York.

The School Tax Relief Program otherwise called STAR; as the name implies is intended to give NY homeowners a break on their school taxes. It is no surprise that relief is needed since NY has some of highest taxes

The relief was recently restricted to households with income less than $500,000. There are actually two parts to this program, the Basic STAR and the Enhanced STAR which is given to seniors with income less than $79,050 and at least 65 years old.

The amount given varies from municipalities; in Red Hook the Basic Star is $48,990 and the enhanced STAR is $98,150. If for example your home is assessed at $200,000 and you qualified for the Basic Star the amount you would be taxed on would be $200,000-$48,990=$151,010; seniors would be taxed on $101,850

For more information you will need to contact the assessor in the town you are purchasing the home. Also keep in mind that there are deadlines when filing, this too varies depending on the county and township.

It is customary for you attorney are real estate agent to inform you of this, and most times at the closing the attorney will give you the application.

STAR

Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com

www.jfivehomes.com or www.midhudsonhomevalue.com

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Speechless Sunday-I am never tired of you

Late January Sunset   This afternoon I had a few appointments, all in all it was a very productive afternoon.   Heading home a little after 5PM I saw the colors and  sun shining on the snow through the trees.  Since I am am never tired of sunsets I pulled over.  I was so disappointed when my camera would not stay on, maybe it was cold.  Then I remembered the cellphone and I was delighted that I was able to capture this late January Sunset.

Yes I am never tired of you.

 

 

Copyright © by Jennifer Fivelsdal, all rights reserved- Speechless Sunday-I am never tired of you

Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com

www.jfivehomes.com or www.midhudsonhomevalue.com

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Now where do I sign? I am a member of this family

The Cat

Today I was taking a listing and the cat of the house checked me out fully, even going so far as looking in my bag.


When we got to the point where documents were being signed he jumped up on a folder and looked me square in the eyes as if to say "Now where do I sign? I am a member of this family.

 

Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com

www.jfivehomes.com or www.midhudsonhomevalue.com

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How to get ready for a showing appointment in this winter weather

How to get ready for a showing appointment in this winter weather

If your home is on the market now,  you have had to cope with many snow storms; so it is a challengeSnow in drive getting it ready for showing.   I am not talking about the inside, but rather the outside so that potential buyers and their agents can make it to the front door safely.

Here are some things you must do

  • Clean the driveway and put down salt or other products to melt the ice.
  • Clean the walkway and also apply product to melt ice.
  • If you have a porch make  sure that is also clean.
  • Try to remove as many of the icicles as you can since these could cause harm,
  • If for any reason you can't get these task done, it would be better to cancel the appointment.
  • Provide shoe covers so that the snow and salt is not tracked into the house.
  • Make sure the inside is nice and warm.  If you have a fireplace light a fire that would be a nice touch.

Copyright © by Jennifer Fivelsdal, all rights reserved- How to get ready for a showing appointment in this winter weather

 

Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com

www.jfivehomes.com or www.midhudsonhomevalue.com

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It must be cold outside wouldn't you say?

It must be cold outside wouldn't you say?  I can't remember the last time I have seen icicles this big in Rhinebeck.  You are probably thinking this must be Jennifer's igloo, well it is not.

Many of the homes I have seen in the last few days do have icicles and that is to be expected since all the trees are also covered.

So what are the best practices for removing icicles?

Oh by the way don't stand under the icicle and hit it at the same time.  I tried that and almost got hit in the head :)

So here is one memory of the 2011 winter season.

Icicles

Copyright © by Jennifer Fivelsdal, all rights reserved-It must be cold outside wouldn't you say?

Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com

www.jfivehomes.com or www.midhudsonhomevalue.com

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Dutchess County NY Real Estate Market For December 2010

 

SINGLE FAMILY DETACHED  DUTCHESS HOMES FOR December 2010   

 The December 2010 real estate report for Dutchess County showed an increase in the median home price of homes sold.  At the same time there were 20 less homes sold in 2010 when compared to 2009.  The inventory also grew and this, in turn, led to a larger absorption rate.  Clearly this market is still a buyer's market.

Year           Average Price Median Price # of Sales DOM

Inventory

Absorption    Rate Purchase offer 1st of Month
Dec 09 $347,997 $265,000 144 132 1838 12.76 142
Nov 10 $368,151 $277,000 115 137 2137 18.58 132
Dec 10 $328,799 $290,000 124 146 2025 16.33 121

 

The townhouse and condo market, otherwise referred to as single family attached, unlike the single family detached saw a drop in the median price of homes sold.  When compared to 2009 the sales were similar but the increase in the inventory and days on market led to a larger absorption rate.

                 SINGLE FAMILY ATTACHED  DUTCHESS HOME SALES  FOR December 2010

                                                        CONDOS AND TOWNHOUSES    

                                    

Year Average Price Median Price # of Sales DOM

Inventory

Absorption    Rate Purchase offer  1st of Month
Dec 09 $188,403 $179,000 26 119 392 15.07 33
Nov 10 $190,272 $205,000 18 106 455 25.27 26
Dec 10 $181,234 $144,250 25 138 432 17.28 32

 

**Data for report obtained from Mid Hudson Multiple listing Services.  Deemed reliable but not guaranteed.

 

Copyright © by Jennifer Fivelsdal, all rights reserved-Dutchess County NY Real Estate Market For December 2010

                                  

 

 

Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com

www.jfivehomes.com or www.midhudsonhomevalue.com

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End unit condo for sale at Tivoli Garden Tivoli NY

Tivoli Condo

Living roomOpen floor planDining area

This 2 bedroom Tivoli Garden Condo is perfect for carefree living. It is much sought after end unit on the ground floor. So, here is your opportunity to own this comfortable condo facing the woods. There is even a 3 season enclosed porch which is where present owner spends a lot of time, especially in the summer, reading and admiring the nicely landscaped grounds.

Step inside, and you will find 2 bedrooms, one on the first floor and another upstairs, also a livingroom, dining area and cozy kitchen. There is a stacked washer and dryer in a closet just outside the bathroom. For your convenience, this unit has a 1 car garage with room for additional storage.

So, if you want all the comforts of home without the need for a snow blower or lawn mower this is the home for you.

Built 1989 Size 964 sq.ft. Village water and sewer 2 bedrooms 1 Bath

PRICE $185,000

 Please take a moment to view a video of 9 Elizabeth DR-57D,Tivoli 12583

  

Explore Tivoli NY in this Virtual tour

 

Copyright © by Jennifer Fivelsdal, all rights reserved-End unit condo for sale at Tivoli Garden Tivoli NY


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Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com

www.jfivehomes.com or www.midhudsonhomevalue.com

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Rhinebeck and Village of Rhinebeck NY Real Estate Market Report for December 2010

 

In Rhinebeck NY during December 2010 7 single family homes sold with price ranging from $339,000-$1,525,000. In 2009 there were 4 sales between the town and village with a price range of $320,000-$1,150,000. Below is a comparison of 2010 to 2009 as well as a detail report of the market activity for December 2010. At the bottom of the report you can also request a report of graphs showing the changes in the market from 2007-2009 for the Rhinebeck market.

 

                    December 2010 compared to 2009

 Town $875,380 (2010) Village $448,000 (2010) Average List

          $814,000 (2009)          $414,000 (2009) Average List

          $720,000 (2010)          $422,000 (2010) Average Sold

         $735,000 (2009)           $396,500 (2009) Average Sold

 

Town of Rhinebeck NY Real Estate Report - December

                              Single Family Detached

 

Active 5 Extended 1
Average List $411,780 Average List $425,000
Average DOM 27 Average DOM 206
Average SQFT 1874 Average SQFT 2809
Average $/SQFT $220 Average $/SQFT $151
       
       

   

Contract 1 Sold  5
Average List $184,400 Average List $875,380
Average DOM 248 Average DOM  217
Average SQFT 1134 Average SQFT 2639
Average $/SQFT $163 Average $/SQFT $332
    Average Sold $720,780
    Average $/SQFT $273

 

   Town of Rhinebeck NY - December  2010 Home Sales

 

ADDRESS  PRICE
Cove Road $  339,000
Wynkoop LN $  449,900
Ackert Hook RD $  525,000
Route 308 $  765,000
Wyndclyffe Court $1,525,000

   

  Village of Rhinebeck NY Market Report - December 2010

   

Active 3 Offer CS 1
Average List $434,967 Average List $998,000
Average DOM 17 Average DOM 110
Average SQFT 2280 Average SQFT 3932
Average $/SQFT $191 Average $/SQFT $254
     
     

   

Sold 2  
Average List $448,000  
Average DOM 112  
Average SQFT 2466  

Average $/SQFT

$182

 

 
Average Sold $422,000  
Average $/SQFT $179  

  

Village of Rhinebeck NY Home Sales December 2010 

 

ADDRESS  PRICE
Oak Street  $435,000
South Parsonage  $449,000

To get a 4 year market comparison for 2007-2010 just click button

Data for report obtained from Mid Hudson Multiple listing Services.  Deemed reliable but not guaranteed

 Copyright © by Jennifer Fivelsdal, all rights reserved-Rhinebeck and Village of Rhinebeck NY Real Estate Market Report for December 2010

 _____________________________________________________________________________________

Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com

www.jfivehomes.com or www.midhudsonhomevalue.com

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Speechless Sunday-Cold

Barn in snow

Saturday I was showing houses and it was cold and windy I couldn't wait to get home and have a cup of tea.   AnywayI decided to take a different way home so I went down this country road with wide open fields, old farmhouses and barns.  As I went by this particular barn all I could think of was how cold it was.  It would have helped if I had only turned the car heater up.

Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com

www.jfivehomes.com or www.midhudsonhomevalue.com

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Well, NO we did not buy a home with 1950's appliances! AND YES, we want to sell our home with 1980's appliances!

I thought this blog post written by Judi Barrett was very timely.  Many sellers are hoping to get their home sold in the spring for top dollars.  If you have an older home or as we say in the real estate industry a dated home, here are some reasons you won't get top dollars unless you upgrade appliances and do a bit of remodeling.

Via Judi Barrett ~ Integrity Real Estate Services ~ IDABEL, OK:

Well, NO we did not buy a home with 1950's appliances! AND YES, we want to sell our home with 1980's appliances!

 

We've all gotten the call from someone that has been in their "new" home for 30 years.  They still think their appliances and everything should be welcomed by buyers as "modern"  but they are 30 years old.  When they bought in 1980, they did not want to buy 1950 home.. they wanted a new one....

  • It was new when they moved into in 1980 and they still think of it as new. 
  • The reddish manufactured paneling has been cleaned and polished twice a year.. no recliner has ever bumped against it. 
  • The carpet is harvest gold and avocado green mixture and the family dogs have not been allowed on it.  It has been shampooed at least once a year in an effort to "take good care" of it.
  • The walls are covered in family portraits.  Once something was hung, it never gets moved because it will leave a nail hole in the wall. 
  • The appliances were bought when the house was built.. avocado green again.
  • The curtains on the windows are heavy and are floral... greens golds and browns.. big bold flowers. 
  • The orange paint on the kitchen/dining room wall makes you feel like you're living in a giant pumpkin.  Cinderella's coach, it's not.
  • The Oak cabinets can work in a more modern setting.. with new hardware.


And we've all heard the arguments that it should bring "top dollar" just the way that it is:

  • The right buyer will appreciate this home.
  • It will take a special person to appreciate the way that we've taken good care of our home.  That's who we want to sell to.
  • Anyone that has worked for a living and understands the value of a dollar will love our home.  They will also be the ones that can afford it. 
  • There's no point in replacing anything.. it's just like new and we all know that the stuff you buy "now a days" is not as good as what you could buy when this house was built.

My questions and suggestions for Mr. and Mrs. Seller:

  • When you had your home built in 1980, did you want the builder to use materials, colors, appliances, etc from a 1950's home and install them in your home? 
  • Have you asked your grown children if, given a choice, they would purchase your home or the home down the street that's been modernized, given also that they would answer honestly and that both homes were priced the same and similar in condition and floor plan?
  • Have you viewed any open houses lately to see what's for sale that you will be competing with?
  • Have you had an appraisal done on the home in the past 12 months?
  • When we sell this home... you say you are downsizing and will be shopping for a much smaller home.  Can I assume that you will only be looking at homes that have 1980's colors, designs, and appliances since you believe they are so much better than what is being manufactured today?


The truth of the matter is this..   If you, Mr. and Mrs. Seller will put yourself in a buyer's position as you look at your home and other homes on the market and be honest as you do it, you will realize that to get "top dollar" for your home, it needs to be comparable to others that are bringing top dollar.  If you will look at the sold prices of those that brought top dollar and those that did not, often the ones that sold for less did need to be updated. 

 

So.. want top dollar?  Bring your home into "top dollar" status, your chances will be much much better. 


This post was inspired by a blog post that Charles Edwards of Rogers, Arkansas wrote entitled Yes, I realize no one has ever walked on your 1980's sculpted shag with their shoes on. 

Image courtesy of turkeychick

Judi Barrett Southeast Oklahoma' best real estate broker Integrity Real Estate Services 580-212-5946

 

Looking for a home for sale in Idabel, Oklahoma?  Let me Google that for you. 

 

 

Judi Barrett, Broker, Integrity Real Estate Services, Office Address:  RR 5 BOX 126, IDABEL, OK 74745  580-212-5946

Our Name Says It All.
Real Estate Services You Can Trust.

 

 

 

 

 

 

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Integrity Real Estate Services Southeast Oklahoma Judi Barrett Broker 580.212.5946
Real Estate Services
Our name says it all.

 

Jennifer Fivelsdal - JFIVE HOMES REALTY LLC - 845-758-6842- jennifer@jfivehomes.com

www.jfivehomes.com or www.midhudsonhomevalue.com

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