Changes On the Horizon

As I write this, I'm still on the run. I'm in the middle of two transactions and working on a third. There was a fourth, but it fell victim to "As the small town turns". I used to get bothered when I lost a sale, but not anymore. Losing is part of the process. In sales of any kind, you have to get over it and move on.
I wasn't able to write last week, because I was in the middle of my marathon show week; which will hopefully result in the third property under contract for the end of winter. I did just list a great multi-family home on Patterson Way in Lake Placid. There is a two bedroom, one bathroom two story home on one side and a new over sized two car garage with a two bedroom, one bathroom with a loft on the other side. It would be a fantastic property for someone who wants additional income to go towards the mortgage. there is a breeze-way connecting the main home and the garage. As one's life changes, so can the house. Because it is connected, you could easily turn the home into a large single family. It's on my website.
My office move is 95% moved. Now I just have to organize the new space. I moved my signs yesterday. My large blue and white sign fit perfectly above the door at my new office. I really like the new space. I have to get used to seeing people walking by though. Having been below street level, I never saw anyone. One thing is for sure, I got a ton of work done at my previous location with limited interruptions. In addition, I like walking around and chatting with some of the other shop owners. The new address is 2527 Main Street, Suite 5, Lake Placid NY 12946. Stop by to say hello next time you're on Main Street.
A little town news... The new Convention Center is coming along. It is scheduled to open in late January / early February 2011. I believe it will make a huge impact on the area, especially if they can attract some good, big conventions. The facility is going to be near 40,000 square feet when all is said and done. From a layman's perspective, that is HUGE!
Speaking of the Convention Center, I wonder how many people realize how close we were to losing the Olympic Regional Development Authority, AKA ORDA. From what I am to understand, in the original budget, the State cut the funding and told ORDA it was going to have to close all of it's facilities. That includes Whiteface Mountain, Gore Mountain, Mt. Van Hoevenberg, the Speed Skating Oval, the Arena's, etc. All of it. Can you imagine? I believe the economic impact on the area is in the neighborhood of $300,000,000.00 per. There was talk about the town taking over the facilities if they did close. Some say the town would do a better job about promoting events than does ORDA. That there would be more concerts at the arena, etcetera and so on. Thankfully we won't have to find that out. At least not this year. As of now, the State has put the funding back into the budget. Although down from $6.6 million, ORDA will continue to operate. The area business owners are breathing a collective sigh of relief.

Kim Dolan of Key Bank offers this information -

Just a quick note to let you know of some FHA changes effective 4/5/10-1 week from today.


The upfront MIP-(portion that is financed in loan amount) will increase from 1.75% to 2.25%.

This will affect the total loan amount and therefore payment of the borrowers.

Last day to register a loan under old guidelines is 4/2/10.

Thank You!

Call me if you have questions.

33 Days to sign a contract and qualify for the $8000 First Time Buyer Credit.

Kimberly Dolan
Mortgage Advisor
Key Bank, N.A.
Mailcode:NY-31-21-0101
21 Congress Plaza
4 Congress Park Centre
Saratoga Springs, NY 12866
518-265-7782 cell
216-370-9260 efax
Kimberly_M_Dolan@keybank.com

*Key Bank is not responsible for typograpgical errors*

Happy Tuesday. Have a great week!!!

John La Selva