Lake Placid Real Estate

Snow, Snow and more Snow!

2011-02-06T18:10:00.000-08:00

OK, we have a ton of snow on the ground with more on the way. People are reporting to me that Whiteface has not been this good in years! Not to mention the Cross Country Skiing and Snow Shoeing.

This home is Paradise Lodge at Placid Meadows. It is a three bedroom, two bathroom home on five private acres. The main level features an open floor plan with a fully equipped kitchen, dining area, comfortably furnished living room with a large wood stove and cable TV, a bedroom with a queen size bed, a full bathroom and a bedroom with a set of bunks (double on bottom).
The second floor features an open loft overlooking the living room and surrounding meadow, and a private bedroom with a queen size bed and private bathroom.
This is a true Timber Frame home! You can ski or snow shoe from the front door. There are many trails in the area for you to explore.

What a great time to come to the Adirondacks and Lake Placid to play!!! Don't wait, call me today for a great vacation rental. I still have some properties left for President's Day Weekend.

Offered by Select Sotheby's International Realty
John V. La Selva, Assoc. Broker / Rental Specialist
518.524.0975 john.laselva@selectsothebysrealty.com

NYSAR 2011 Mid - Winter Busuness Meetings

2011-01-31T12:11:00.000-08:00

   I'm in Albany at the Desmond Hotel this week for New York State Association of Realtors Mid - Winter Leadership Conference and Business Meetings.
   I have learned a lot of useful information over the past two days to help me and my fellow Board Memebers better run our organization. I have attended the Leadership portion of this conference when I was a Director in 2009. I find the reception and recognition very different now that I am President of the Northern Adirondack Board of Realtors (N.A.B.O.R.).
   One thing I didn't realize it that, as President of my local Board, I am automatically a Director on the State Board. An added bonus that I wasn't aware of.
   Have a great week! Be happy in whatever you're doing.

John La Selva, Broker

Northern Adirondack Board of Realtors(c) (N.A.B.O.R)

2011-01-11T15:52:00.000-08:00

   On October 15th, 2010, I was sworn in as the President - Elect for the Northern Adirondack Board of Realtors(c). I became the President as of January 01, 2011.
   I am looking forward to a great year. I have many fine past President's to lean on. One of my goals is to increase member participation by establishing a better connection with the Board by increased involvement.
    I will also be looking for ways that N.A.B.O.R can be better involved in the community, and what a community we serve! We cover Essex and Franklin Counties, as well as the towns and area's of Old Forge and Blue Mountain Lake. Our Associations reach is far and wide and I plan to have my presence felt in all areas. To my friends in Malone, I am coming. To my friends in Old Forge, I am coming. Watch for me in Blue Mountain Lake and Scroon Lake. Well, you get the point.
   My phone is always on. Please don't hesitate to call me with any questions or concerns. If I don't have an immediate answer, I will find out.
   I look forward to serving all or our members and our customers, clients and the communities we cover.

Here's to a great 2011!!!

John V. La Selva, President, Northern Adirondack Board of Realtors
Assoc. Broker, Select Sotheby's International Realty

Words of Wisdom

2010-11-19T09:21:00.000-08:00

"No man is an Island, intire of it-self , every man is a piece of a Continent, a part of the maine; if a Clod bee washes away by the Sea, Europe is the lesse, as well as Promontorie were, as well as if a Mannor of thy friends or thine own were; Any mans death diminishes me, because I am involved in Mankind; And therefore never send to know for whom the bell tolls; it tolls for thee."

As written by John Donne old English Style.

Follow Up to Last Weeks Rant

2010-11-09T07:13:00.000-08:00

   I wanted to make another point about about the possible damages that Owners can cause Agencies by renting with multiple agents, including themselves...
   I recently rented a property for the Holiday week of 12/26 - 1/02. I sent out the lease to the tenant and obtained information to secure the deposit. When I sent the lease to the owner for signature, it was rejected. They called me saying that they had just secured a rental from another source for that same period.
   I had to call my renter, an attorney in Montreal, and let him know. Needless to say, he is not happy. Fortunately for me, I was able to give him two good alternatives and had not run his credit card for the deposit. He has declined my alternatives, but at least I was able to give the option.
   In the mean time, he is uttering phrases such as "this is a disgrace and a shot in the arm to consumer confidence." Although he may be going a bit far, because I was able to offer him a comparable property, people really do feel that way. Now my name is mud to this customer, not the owner. The owner could care less, they have their rental and life goes on. For me, this customer is going to tell 10 people not to work with LSRE, and they're going to tell 10 people and so on.  I may be exaggerating a bit, but you get the idea.
   I can remember a time when I had a number of properties in my inventory, and I didn't have to call anyone to check it's availability before I booked it. I just rented, and rented, and rented some more. There were three major agencies in town that handled the bulk of the vacation rentals. Owners had not yet muddied the waters by trying to handle their own rentals from "East Jabip". It was as close to utopia as one could get in the Vacation Rental business. But those days are history. And that's Okay. I am capable of rolling with change, and am usually open to it; but I'm now a little concerned for the health of the industry. There is so much inventory out there that it is getting confusing for customers. Not to mention that as the pie gets cut smaller and smaller, the individual gross gets smaller and smaller. If the numbers don't add up, people won't buy. I don't wonder if that isn't a small element of our current slow down in sales. So, not only is it hard to get money from lending institutions, but now an agent can't safely say that a property can earn an estimated  X per year. A word to the wise, your property has to be special. A real stand out in this market in order to make good money.
   Another issue that shakes consumer confidence is to look on a "By Owner" website during their search and see a property for one rate. Then search an agencies website only to see that same property at a higher rate. I think you can draw your own conclusion as to what they do and where they'll rent it. A situation that's even worse is when they book that property with us and then find that same property listed by the owner for less on their own site or a By Owner site. I have thought about this situation and the general conclusion is that I list for the same price, or I don't list it. Some other rental agents in the area feel the same way. It is very discouraging to then go to that site and see that it is true. We are being undercut by our own clients. Interesting.
   I believe that we, as professional rental agents, have to show our worth to owners and the value of having an agency handle their rentals for them. I think we have thrown our hands up, to a degree, and have said "it is what it is". Well, that doesn't work for me anymore. Some things have to change.

Until next time ~ John L.S.

For Sale or Rent By Owner

2010-11-01T06:07:00.000-07:00

From time to time, I see a home listed For Sale by Owner. Some of the top reasons an owner would list their own home for sale are they want control over showings and negotiations of the sale price. Perhaps they don't want to pay a Broker a commission when they feel they can do as good a job, if not better. From my research it comes right down to commission, no? {Please comment with your thoughts on that}
Here's a couple of questions, if you had a $300,000.00 dollar tax problem, would you take on the IRS without a CPA? If you had a $300,000.00 dollar legal problem, would you go to court without an attorney? My guess is that you're going to say NO! Well, why would you go to the table with a $300,000.00 home without proper representation?
I think one thing Sellers forget is that a Broker does not have the same emotional attachment to the property as it's owner. The other issue is that Buyers usually consult a Broker to handle their negotiations, even when a property is For Sale by Owner. We are professionals and have studied the art of successful negotiations front to back, and back to front. As an owner dealing directly with a Broker, or even an educated rouge buyer, you, as a seller, need to be ready. Otherwise, it could cost you thousands of dollars.

So, many times, the same problems can arise when renting a property on your own. Think about it, you have your vacation home on the short term vacation rental market hoping to pick up some of the carrying costs. You decide to consult a Broker who is a short term rental expert. We are educated from A - Z on how to maximize vacation rental income. We are in the market every day and can often see impending changes in the rental market and can adjust rates and advertising accordingly. We are trained to negotiate to get the best rates possible. We are here 24/7 if your tenants have an issue. For example, you are renting your house on your own. You live in northern New Jersey. A phone call comes in at 2:30a.m. form your renter saying that try as they might, they just can't find the property. They want someone to come out and bring them to it. What do you do from New Jersey? Or, here's one that happens a bit more frequently, you get a phone call from the renter saying the keys aren't where you said they were, or the lock box isn't working. Now your guests are in Lake Placid with no access to the house. What do you do? Lastly, and this is another common issue, you get a phone call from the renter saying that they got to the house, but it's not cleaned from the last rental. They are supper mad and are demanding that you get someone over there right now. You call your housekeeper and she answers from a beach in Florida. What do you do?
These are issues that happen and that you need to be thinking of when you decide to rent on your own. I used to rent a cabin at the Whiteface Club and Resort. The owner completely let us do what we needed to do to get it and keep it rented. Sometimes that meant renting it for $150.00, or less, per night. At the end of the year they ended up with over $40,000.00 dollars in gross rental revenue.
There was a cabin two doors down from this one that the owner rented on her own. She was stuck at one rental rate and would not negotiate. She also had it listed with us, but wouldn't let us go below $350.00 per night. OK. Well, long story short, she ended up with about $12,000.00 dollars at the end of the year. That's a $28,000.00 difference.
My advice to vacation home owners who list their homes for rent with a Broker is to let the Broker do their job! Even when some owners list with a Broker, they try to maintain control over rental rates, dates and so forth. I say to those owners please let us do our job! You hired us to maximize your rental revenue, let us do it. I also ask that you don't compete with your own rental agent by posting your property on one of these By Owner sites at a lower rate than what we have it listed for. What's that all about? We are here for you. We represent your best interests in the transaction. No different than a sale.
It is also very frustrating when owners list their homes for rent with multiple agencies. Almost all owners are doing it now. I believe they think that if they rent with multiple Brokers they'll get more rentals. In one word - WRONG! Most of the time we back off those rentals for various reasons. The biggest one is that when we call the competitive agent to make sure it's available before we book it, we often hear that they have a rental for those dates (even when sometimes they don't, they just think they can). The bottom line is that we are all getting the same calls from the same renters for the same dates. Making us compete against each other means less money for you. How, you ask? It's simple. If you have your home listed for rent with two agencies, one is going to do what they have to do to obtain the rental within the contract boundaries. Sometimes that means cutting the rental rate to secure it. See where I'm going? You, the homeowner, ends up losing money. An owner needs to keep in mind that, although we all like each other, we are competitors!

I hope I have given you some food for thought on the For Sale/Rent by Owner. I look forward to seeing some comments of the topic, and am happy to answer any questions.

Wishing all a good week,

John L.S.

Properties Available

2010-06-22T12:52:00.000-07:00

La Selva Real Estate has one three bedroom, two bathroom home left for IronMan 2010. Please call the office or email me for rates and information.

The master bedroom has a queen size bed, bedroom 2 has a queen and bedroom 3 has a full size bed. It has a fully equipped kitchen, dining room and comfortable living room with cable TV.

It is located right on Mill Pond Drive and walking distance to the start/transition/finish area.

CALL TODAY!

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Horse Show Property: Hillcrest House

Hillcrest House is a newly remodeled and re-furnished home on Hillcrest Avenue in the Village of Lake Placid. It has three bedrooms and two bathrooms, a large fully equipped eat-in kitchen, living room with cable TV and a deck with a gas grill.

Master - Queen

Bedroom 2 - Queen

Bedroom 3 - 2 Twins

Walking distance to Main Street and the Olympic Center

$350 per night / $2450.00 per week.

Articles of Interest

2010-04-13T11:34:00.000-07:00

Mortgage Rates Dip - Private Buyers Fill Government Void
by Ed Ferrara - Tue, Apr 13, 2010

Last Wednesday afternoon, just as results of the weekly Freddie Mac survey were finalized, mortgage rates dipped. The decline in long term mortgage rates was an effect of rising MBS prices. Mortgage rates move opposite mortgage-backed securities prices. Surprisingly, so far private buyers have successfully filled the void left in mortgage-backed securities markets since the government discontinued their MBS purchasing program on Mar. 31st.

FreeRateUpdate.com research of wholesale lenders' rate sheets shows conventional 30-year fixed mortgages are available today at 4.875% to well-qualified consumers paying a standard .07 to 1 point origination, down from 5% this time last week. 15-yr fixed mortgages are available at 4.25, and 5/1 adjustable rate mortgages at 3.75.
FHA 30-yr fixed loans are available at 4.75%, down from 4.875 last week. Despite the FHA 30-yr rate being slightly better than that of the conforming 30-yr, cost and in turn APR is significantly higher because of MI and other FHA fees.

Jumbo 30-yr fixed mortgages remain available at 5.625%.

Despite rates near all time lows refinance applications are down a whopping 16% according to the Mortgage Bankers Association. Purchases, up for the third straight week, now make up half of all applications.

Today's Mortgage Rates:

30-yr fixed-rate - 4.875%

15-yr fixed-rate - 4.250%

5/1 ARM rate - 3.750%

FHA 30-yr fixed-rate - 4.750%

FHA 15-yr fixed-rate - 4.50%

FHA 5/1 ARM rate - 3.750%

VA 30-yr fixed-rate - 5.000

Jumbo 30-yr fixed-rate - 5.625%

Jumbo Conforming 30-yr fixed-rate - 5.250%

Source: freerateupdate.com Today's Local Market Conditions Report
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REAL ESTATE AND MORTGAGE NEWS

Earth Day 2010

by Carla L. Davis - Tue, Apr 13, 2010

Earth Day was founded 40 years ago by U.S. Senator Gaylord Nelson. And now, April 22 has become a day when countries and people all across the globe celebrate the Earth's environment and focus on developing an awareness of how we affect it.

As homeowners, we consume a lot of energy, and leave one heck of a carbon footprint. From the moment our homes are constructed, we are consuming resources and emitting toxins into the air through paints and stains. Once in the home, we use a myriad of products every day in our normal routines, from dish soap, to laundry detergent, to sprinkler systems for our lawns, and all of which use, and sometimes abuse, mother nature's resources.
Change starts with each individual person. And change is inspired by knowledge.
Did you know that Americans use and toss 2,500,000 plastic bottles every hour? And a plastic bottle takes around 1,000 years to biodegrade. That's a lot of trash!
Did you know that just one quart of motor oil can contaminate up to 2,000,000 gallons of fresh water? You can properly dispose of your motor oil by taking it to your local Auto Zone, or similar stores. Every AutoZone store accepts used batteries for recycling and 95% of their stores accept used motor oil and other used fluids. The American Petroleum Institute says, "If you change your own oil, be certain that you take it to a collection center for recycling. If you take your car to an automotive service outlet, you can be fairly certain that they recycle the oil that they change."
Did you know that every year, each American throws out about 1,200 pounds of organic garbage that can be composted? If you have the space, consider buying a composting bin for your yard. New designs are more ascetically pleasing than those of the past -- and they don't smell half bad, either!
One great step you can take to help preserve the environment, and to combat to above statistics, is to become proactive when it comes to recycling.
Contact your local waste disposal company and see what programs they may already have in place. If your community doesn't collect at the curb, them simply save up your bottles and other recyclables (paper, plastic, glass bottles, cardboard, and aluminum cans) and take them to a local recycling center.
To take this process one step further, replace those plastic water bottles with a water filtration system. There are inexpensive ways to accomplish this, such as using Brita filters that attach directly to your faucet, or Brita water pitchers to be used and refilled. But if you want to it to another level, there are whole house water filtration systems that will even filter the water you shower in! There are systems that cost less than $1,000, and will last for years to come.
Have a great Earth Day this year, and to find our more tips on making your household green, visit the EPA's Earth Day site . Today's Local Market Conditions Report
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Have a great week!

John L.S.

New Program

2010-04-06T12:25:00.000-07:00

La Selva Real Estate introduces its exclusive Tenancy In Common Program.

What is it? Simply it is a program that allows you to purchase a portion of a property, usually in quarters. You then own a ¼ of the property with three other owners. The weeks can predetermined and rotate each year, thereby giving each owner the opportunity for Holidays and special events, such as IronMan. Or each owner can have set weeks in each season that would remain in effect for as long as you own your share, and would carry over to a new owner.
As an owner, you can sell your share at any time. Each of the other owners would have first right of refusal.

How do I get started? The simplest way is to purchase the property with one or three other friends. If you don’t have friends that are interested in purchasing with you, La Selva will keep your name on a list and advertise for other potential owners to join you in your purchase.

Benefits: Purchasing a property as a Tenant In Common makes it affordable by allowing you to split the costs of ownership by the number of owners. It also increases your buying power. As an owner, you can also rent your weeks if you’re not able to use them.

Please call our office for more details and to discuss the possibilities.
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This weeks Mortgage Info From Lori Wentzel at HSBC

No Matter what you’re hunting for…

...we are behind you with Products and Rates to fit your Needs!

Product Rate Points APR

30yr Conventional 5.50% 0.00 5.644%

15yr Conventional 4.750% 0.00 4.990%

30yr FHA/VA 5.25% 0.00 5.436%

15yr FHA/VA 4.500% 0.00 4.812%

*Premier Customers Receive a.25% Discount on Conventional Mortgages. Rates as of 4/02/2010*

Lori Wentzel

HSBC Mortgage

(315)528-0401

~HSBC is not responsible for typographical errors~
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Have a good week!

John L.S.

Changes On the Horizon

2010-03-30T13:49:00.000-07:00

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

MLK's words of inspiration are still a lesson for today

2010-03-02T11:20:00.000-08:00

   On October 26, 1967, six months before he was slain, the Rev. Dr. Martin Luther King, Jr. delivered this address to the students at Barratt JHS in Philadelphia...

   "I want to ask you a question, and that is: What is your life's blueprint? Whenever a building is constructed, you usually have an architect who draws the blueprint, and that blueprint serves as the pattern, as the guide, and a building is not well erected without a good, solid blueprint.
   Now each of you is in the process of building the structure of your lives, and the question is whether you have a proper, a solid and a sound blueprint.
   I want to suggest some of the things that should begin your life's blueprint. Number one in your life's blueprint should be a deep belief in your own dignity, your worth and your own somebodiness. Don't allow anybody to make you feel that you're nobody. Always feel that you count. Always feel that you have worth, and always feel that your life has ultimate significance.
   Secondly in your life's blueprint, you must have as the basic principle the determination to achieve excellence in your various fields endeavor. You're going to be deciding as the days, as the years unfold what you will do in life - what your life's work will be. Set out to do it well.
   And I say to you, my young friends, doors are opening to you - doors of opportunities that were not open to your mothers and fathers - and the great challenge facing you is to be ready to face these doors when they open.
   Ralph Waldo Emerson, the great essayist, said in a lecture in 1871, "If a man can write a better book or preach a better sermon or make a better mouse trap than his neighbor, even if he builds his house in the woods, the world will make a beaten path to his door." This hasn't always been true - but it will become increasingly true, and so I would urge you to study hard, to burn the midnight oil; I would say to you, don't drop out of school. I understand all the sociological reasons, but I urge you that in spite of you economic plight, in spite of the situation that you're forced to live in - stay in school.
   And when you discover what you will be in life, set out to do it as if God Almighty called you at this particular moment in history to do it. Don't just set out to do a good job. Set out to do such a good job that the living, the dead or the unborn couldn't do it any better.
   If it falls your lot to be a street sweeper, sweep the streets like Michelangelo painted pictures, sweep the streets like Beethoven composed music, sweep the streets like Leontyne Price sings before the Metropolitan Opera. Sweep the streets like Shakespeare wrote poetry. Sweep the streets so well that all the hosts of heaven and earth will have to pause and say; Here lived a great street sweeper who swept his job well. If you can't be a pine at the top of the hill, be a shrub in the valley. Be the best little shrub on the side of the hill.
   Be a bush if you can't be a tree. If you can't be a highway, be a trail. If you can't be a sun, be a star. For it isn't by the size that you win or fail. Be the best of whatever you are."

Dr. Martin Luther King, Jr.

Imagine being in the audience when that speech was made? The impact it would have had on you! I did not read that speech until later in life, but was somehow taught, and followed the principles behind it. I have always tried, and sometimes succeeded, to be the best at what I was doing. Either way, it's never too late to start.

Until next time - John La Selva

Hodge Podge

2010-02-16T10:24:00.000-08:00

What a great time of year to live or vacation in the Lake Placid/Saranac Lake region! Winter Carnival is going strong in Saranac Lake. The temperatures have cooperated, so the famous Ice Castle is still in great shape. Lots of good restaurants and bands around too.
Needless to say, Lake Placid and the Tri-Lakes area is buzzing with Olympic fever. We have more athletes competing from this neck of the woods than anywhere else on Earth! Exciting times.

Has anyone noticed that there's a new Vet in Lake Placid? It's about time! Back in late December, one of my dogs, Patch, was having great difficulties walking and being able to get up. He's 13 now, so I figured that was it. I called a couple of Vet's who advertised House-calls. Luckily Dr. Flanigan called me back and was able to come over that night. Since Patch had fallen on the slippery bathroom floor and couldn't get up, we decided to get him on his feet and see if he could walk. I mean maybe he just couldn't get up. I could see he was very distressed. Anyway, we got him to his feet and, although shaky, he was able to move around. So, Dr. Flanigan gave him a shot o anti inflammatory in his hind quarters and some pills to help him. Well, I'm happy to report that nearly two months later and Patch is doing great. He was even trotting a little this morning.
Long story short, Dr. Flanigan saved his life! The Lake Placid Animal Hospital has a fantastic new location on Cascade Road. She will still make house-calls, too.
The address is 5673 Cascade Road (across from the bus garage), LP NY 12946. The office number is
518-523-7319 and email is drflanigan@msn.com. Many thanks, Dr. Flanigan for helping Patch!

John La Selva

What's happening?

2010-02-09T11:09:00.000-08:00

2009 has been as good of a year as it has as bad. The first half was great! The second half, not so much. I think you'll hear that from every Broker out there.
Having said that I am happy and proud to announce that La Selva Real Estate will be moving our office. As of April 1st, 2010, we can be found on Main Street, Lake Placid, in the Alpine Mall.
I think a lot of people would expect something different. Like maybe a merger, but that's not me right now. The "Personalized, not franchised!" guy will remain unfranchised for the time being. Now is the time to dig in and work harder and longer and come out stronger. Not lay down and die. What kind of a Broker would I be, what kind of a man would I be if I gave up at the first hitch in my giddy up?!?
My perseverance will pay off. Already I'm working with a handful of buyers and the rentals really seem to be picking up.
I really love my current location. The waterfront has been very nice, but this office is in a busy location and accessible to everyone (no more stairs). It is smaller than our current office, but also less money.
I am looking very forward to the new location. Please stop by to say hello when you are in town.

Here's to a great 2010! I'm off to show property,
John La Selva (6)

"The Greatest Salesman in the World"

2010-02-02T09:50:00.000-08:00

Bet that got your attention! I am a huge fan of Og Mandino and his book "The Greatest Salesman in the World" It should be on the shelf of anyone who puts on a salesperson cap, and referred to often. As a result, I have compiled a list of rules that hangs in my office. It is entitled "John's Rules" and reads as follows:

1. I will form good habits and become their slave.
2. I will great this day with love in my heart.
3. I will persist until I succeed.
4. I am nature's greatest miracle, for I am unique.
5. I will live this day as if it were my last.
6. Today I will be master of my emotions.
7. I will cultivate the habit of laughter and I will laugh at the world,
because I can.
8. Today I will multiply my value a hundred fold. I will set goals for the
day, the week, the month, the year and my life. In setting my goals I
will consider my best performance of the past and multiply it a hundred
fold.
9. I will act now!
10. I will pray to my god for guidance.
I ask not for gold or garments or even opportunities equal to my
ability; instead, guide me so that I may acquire ability equal to
my opportunities.

Teach me how to hunt with words and prospect with love so that I
may be a loin among men and an eagle in the market place.

Let me become all that you have planned for me when my seed was
planted and selected by you to sprout in the vineyard of the
world. Help this humble salesperson. Guide me, God.

I first read Og's book in 1988. It has been a blue print, along with Zig Ziglar, Dale Carnegie and Anthony Robbins, of my sales career. I was saddened to learn that Og passed away recently, but his works will live forever, and continue to inspire me and everyone who reads his books. I thank him for giving me his rules to live by.

John La Selva

How Sellers benefit from using a Realtor(c)

2010-01-19T11:43:00.000-08:00

According to the National Association of Realtors, the median home price for sellers who use a licensed agent is 16 percent higher than a home sold directly by the owner. The reality is that selling a home is a complex transaction that takes time, effort and expertise.

*A Realtor can help set a realistic competitive price price for the seller and figure out the approximate net proceeds for the sale based on sellers outstanding loan balance and closing costs, including the Brokers commission.

*A Realtor is familiar with the local home loan market, knows if seller assistance is advisable and can help a seller decide what type of financing that's best to expedite the sale.

*Realtors ensure potential buyers are "qualified" as to their affordable price range prior to showing them a seller's home.

*A Realtor can list their seller's home on the Multiple Listing Service (MLS) and can work with other Realtors to assure the seller a wider range of prospective buyers.

*A Realtor will advise prospects of all aspects and conditions of the seller's home, even faults the seller doesn't intend to fix. This will protect the seller from later objections.

*A Realtor handles most all aspects of the selling process, including phone inquiries, making appointments, open houses and showings along with potential buyer follow - ups.

*A Realtor is a skilled salesperson who knows how to market a seller's home efficiently. A Realtor knows how to add sales appeal to a seller's home at low to moderate cost.

*If a Realtors the seller's agent, he/she maintains objectivity in responding to criticisms by the buyer and in presenting offers and counter - offers until an agreement is reached.

*A Realtor will familiarize the seller with the closing procedures in advance and often attend the event to explain any questions.

As Realtors, we work for home buyers and sellers.
Let your Broker work for you. A qualified real estate professional can answer questions on price, terms, possession, etc., and maintain objectivity in resolving buyer objections. Realtors bring buyers and sellers together to negotiate an agreement that is satisfactory to both parties. Before the first showing and beyond the final sale, you'll get the know-how and service you deserve when employing the services of a Realtor.

John La Selva
(with help from NYSAR)

How Home Buyers Benefit from using a REALTOR

2010-01-12T13:29:00.000-08:00

Buying a home is probably the biggest single investment you'll ever make. When purchasing a home, it's a good idea to surround yourself with knowledgeable people within the real estate industry, including a good attorney, Mortgage Broker and you local REALTOR.

*A Realtor can help a buyer determine how much home they can actually afford. Often a Realtor can suggest additional ways to accrue the down payment and explain alternative financing methods.

*A Realtor has access to hundreds of listings and can evaluate those listings in terms of affordability and suitability ~ size, style, features, location, etc. A Realtor will not waste time showing homes that do not meet your wants and needs.

*A Realtor can supply information on real estate values, taxes, utility costs, municipal services and facilities, and may be aware of proposed zoning changes that could affect a Buyer's decision to buy.

*A Realtor has no emotional ties to available homes. Therefore he/she can point out advantages and disadvantages in an objective manner.

*When a Realtor is acting as a Buyer's agent, he/she will negotiate the most favorable price and terms on behalf of the Buyer!

*A Realtor usually knows the local money market and can tell a Buyer about financing options.

*A Realtor can explain the closing process in advance and tell a buyer if local law requires an attorney to be present. A Realtor can provide the Buyer with a list of qualified attorneys if the Buyer doesn't have one.

The bottom line is that a Realtor can help a Buyer tremendously with the purchase of their home. A Realtor can make the transaction smoother for all involved. Call one today if you're in the market to buy real estate!

John La Selva

- My next post will be how Seller's benefit from using a Realtor on Tuesday, January 19th.

What is a Realtor?

2009-12-29T08:21:00.000-08:00

I get asked the above question quite frequently, so I'll answer it. Realtors are licensed real estate professionals who are members of the National Association of Realtors, their particular State Association of Realtors and their local Board or Association of Realtors. In my case it's the Northern Adirondack Board of Realtors, of which I am a Director on the Board. Realtors must abide by a strict Code of Ethics, and their job is to ensure you get what you need throughout the entire home buying and selling process. A licensed real estate agent does not have to join the Association of Realtors, but it doesn't make sense not to in this day and age.
We are a wonderful group of people who are always looking out for our clients and our communities. For instance, Realtors have become instrumental in seeing that the plans for the re-opening and further development of the Big Tupper ski area happens. We stood up, all however hundreds of thousands we are, and said to the APA - "This must happen!" We can also be found building houses for Habitat for Humanity and Mentoring our youth in the community. We go to our state capital on Lobby Day to lobby for things that our communities have told us they want, like lower taxes. Our goals are your goals. It is something I take very seriously, as do most of my colleagues.
Please remember that not all Brokers and agents are REALTORS. Look for the REALTOR "R" when you hire a real estate professional.

Happy New Year to all! Next post will be Tuesday, January 5th, 2010.

John La Selva

My Grown Up Christmas List

2009-12-23T10:11:00.000-08:00

Dear Santa,

When I was a child I used write to you and ask for Tonka Toys, G.I. Joe's and toy airplanes.

Those were the days when my friends and I used to laugh all day without a care in the world.

Throwing snowballs, building igloos and making snowmen; surrounded by the innocence of our age.

Today I present to you, Santa, my grown up *Christmastide list.

I wish for:

1. The hungry to be fed.

2. The homeless to have homes.

3. All the wars to end and the World to live in peace. What's all that fighting for anyway?

4. All the caged animals to be set free.

5. Every man, woman and child who walks the Earth to feel the freedom that I feel.

6. People to think more about their surroundings and really want to make them better.

7. All people to follow the Golden Rule and love their enemies as they do their friends.

8. All the murderers to stop killing and seek the help they desire.

9. The child molesters and abusers to stop robbing us of our youth.

10. Someone to find the cure for AIDS.

11. The strength to stop the pain that I see around me.

12. New born babies to be healthy. And for pregnant women to stop doing drugs!

12.5 Addicts to find the strength within themselves to come clean.

13. All the races in all the World to come of age. To stop seeing the colour of someone else's skin

or ethnic background and see everyone as brothers and sisters.

14. The rain forests' to remain so that every Human Being, animal and plant on Earth has a

fair chance to survive.

15. Chemical waste and pollution to end so that our trees don't continue to die from Acid Rain.

16. People to stop thinking so much about money and remember that there's more to life than

the size of their bank accounts.

17. The Seven Sea's to be clean so that the fish and all that inhabit them are assured a natural

death.

18. To stop seeing so much land wasted. For, some day, we are going to run out of space.

19. To see the divorce rate go down and make sure we love the one's we are with.

20. People and countries to be given back their stolen land.

21. People to learn more from past mistakes.

22. Finally, I want to see more Peace, Love and Understanding around the World. People
should know the differences of others and learn to respect those differences. To put down
their guns, because in the past twenty centuries forced death and destruction of others
has rarely gotten us anywhere. Nor has it much changed the situation we're in; accept for a
few million more dead... Peace, Love and Understanding.

So Santa, this is my grown up Christmas List. I realize that you can't do all of my wishes at once,
but for the sake of all new born children, if you could do as many as possible I know it would make their World a little brighter.

With Love,

John V. La Selva (1992)

*Christmastide is the Holy period between 12/25 and 1/06.

Qualities of a good Listing Agent (the Windshield or the Bug)

2009-12-23T09:45:00.000-08:00

So, you are thinking of listing your property for sale and are trying to decide on an real estate agent/agency to list it with. What should you be looking for?
Well, first thing is the agency that the agent represents. Is it a well known, respected agency in the community and amongst other real estate professionals? What kind of branding does the agency do? Who is the Broker?
Those questions are important to get answered concerning the agent too. The agent you decide to list with must have a good reputation with his/her colleagues. Simply, there is a chance that another agent (a Buyers Agent) from another agency is going to bring the Buyers to the table. It will be a lot better if there is a mutual respect between the Sellers agent and the Buyers agent. There is also a chance of increased showings of your property by Buyers agents if it is listed with an agent that is respected by other agents and Brokers.
You'll want a detailed plan as to how your agent is going to market your property and to whom. There are so many options out there now. Paper is still viable, but the Internet is pretty dominant right now.
You should also look at the core beliefs of the agent. In other words, why is he/she there? Who's interests are they thinking of - theirs or yours? Actions do speak louder than words. You should be working with an agent who's desired outcome is your goal. I believe that if I work for my Clients with their best interests in mind, everything else will follow.
We, as agents, provide a service to our clients. And for that service we get a commission. For me, I have to say, it's not all about the money. There are other aspects of being involved with a sale that are just as, if not more, satisfying. The professionals out there know what I'm saying.
The outcome of a sale has to be good for both, Seller and Buyer. It doesn't always happen like that, but, thankfully, it does most of the time.
Lastly, you must work with an agent who is skilled in the art of negotiations. When push comes to shove, is he/she going to be the windshield or the bug?

JvLs

Current State

2009-12-15T11:03:00.000-08:00

As I look out my window, watching the snow fall, I am thankful for the snow we have. It wasn't too long ago that I was wondering where the snow was. Rentals were kind of sluggish for the 12/26 - 1/02 period and I could only blame the weather. You may not think so, but people sit at home watching our weather and seeing how much snow we have before picking up the phone or sending an email inquiry.
The fact is that the weather is unpredictable in the Adirondacks, especially here in the High Peaks Region. I often find myself mad at the the forecasters, but the reality is the weather changes too much and too fast around here. They do the best they can.

I was looking through my inventory and am not the happiest about seeing the number "Owner Occupied" properties there are for the Holiday week coming up. That means one of three things - a. the owners will be here, b. another agency rented it, or c. the owners rented it themselves.
It's a tough environment out there. Some homeowners like to sleep around (rent with multiple agents) and rent on their own through one of the "By-Owner" sites. Although the Rental Agents in town are friends, the bottom line is that we are competitors, and compete we will. I don't particularly appreciate being put in that position, but tolerate it.
When I first started in the Vacation Rental Business there were three agencies that had the lion share of Vacation Rental business. They were Merrill L. Thomas, Lake Placid Accommodations and Lake & Mountain Properties. We each had anywhere from 70 - 110 properties in our inventory. Brokerages like Lake Placid Real Estate and Century 21 were not all that interested in having a large Vacation Rental division. The Big Three, as we were called by some, had a really good time of it. Then something changed. I don't know if I could point to one thing, but if I had to, it would be the advent of sites like Adkbyowner and VRBO.
I think people lose sight of the value that a good Vacation Rental Agent can bring them. First and foremost, we are here to maximize revenue, if allowed. There have been some properties that I stopped trying to rent and eventually cut them loose, because every time I called or emailed about the possibility of a rental I would hear that it's not available. It's a frustrating situation, because we are all getting the same inquiries from the same people. Whether or not Owners realize it, they need us, as much as we need them. I find it a shame that a couple of Broker's, who shall remain nameless, have tarnished our reputation as a whole to the point where owners feel it's better to try and rent on their own rather than with a top notch, professional Vacation Rental Agent. What happens if your tenants are locked out at 2:00a.m.?
In a perfect world, most of my Rental listings would be Exclusive, rather than Open. I'd have everything booked and everyone would be happy. I have NEVER been one to tell an Owner or colleague that I have a property rented when I don't. I think that happens sometimes because they know they will rent it for certain dates (IronMan, New Year's Week, etc.). It's just a matter of time. I certainly make no accusations, but it may happen from time to time.
Either way, it is nice to see that the vacation rental industry, by agent or owner, alive and well in Lake Placid.

John La Selva

Next post - Tuesday, 12/22/09

Snowing and Blowing

2009-12-09T11:03:00.000-08:00

It is a blustery day in the 6.5 million acre wood! There are now 203 days left to close on a new house and be eligible for the new Tax Credit!

I am looking forward to a busy Holiday period later this month. The trend this year was to rent for 3 - 5 nights. Not the typical week-long rentals I normally see when the dates fit perfectly for Saturday to Saturday. The good news is that many homeowners have two or three rentals between 12/26 and 1/02. And with the tenants paying for the post rental cleaning, many homeowners I rent for are experiencing better gross than if we had just one week-long rental.

I am coming up on my three year anniversary. I opened my office on April 21st, 2007. Reflecting, it was a risky, daring move, but one that I am glad I did. It's not easy to break onto the scene in a small town, especially when the majority of other Broker's have been around for as long as 40 years. I am proud of my accomplishments. I have closed more than 20 titles, developed a strong Vacation Rental division and was awarded 2009 Best of Lake Placid in the Agent Category. I am a Director on the Board of Directors for the Northern Adirondack Board of Realtors, a position which I enjoy.

There's no doubt that these are interesting times we are operating in. Things change quickly. Change is a funny thing, you roll with it or get run over by it, but you can't stop it. I look forward to a strong finish for 2009 and a great 2010!

Recently I started mentoring kids in the Saranac Lake Central School system. We try to start with kids in the sixth grade who we feel could benefit from hanging out with and talking to an adult that's not an authoritative figure. I volunteer for this, so I'm doing it for the satisfaction of helping these kids. I kind of wish my school had a program like this. I think I would have liked it. Anyway, it is good to participate in stuff like that. I would say to my fellow Realtors(c) to try and do as much as you can in your community to help make it a better place. We, more than anyone, understand that under all is the land, and that upon its wise utilization and widely allocated ownership depend the survival and growth of free institutions and of our civilization. I ask that everyone, not just Realtors(c), find a way to get involved in helping your community by volunteering with an organization that fits your beliefs or would be fun. The creation of adequate housing, the building of functioning cities, the development of productive industries and farms, and the preservation of a healthful environment begins

with the person you see in the mirror.

Kimberly Dolan, of Key Bank, is reporting that Credit Score Minimums have been lowered to 620 on most programs through Key Bank. There may have been some variation on Jumbo programs depending on down payment. Check with Kimberly for details. You can reach her at 518-265-7782.

Conventional Programs - loans to $417k:

30 Year Fixed - 4.875% 0 points apr 4.875%

15 Year Fixed - 4.375% 0 points apr 4.375%

That's a wrap for this week. I think I've rambled enough :) Look for my next post on Tuesday, 12/15.

Feel free to email me at laselvasellsre@yahoo.com.

JvLs

Dining Out?

2009-12-01T13:57:00.000-08:00

Not Just Real Estate, right? I have frequented most eating establishments in the Tri-Lakes area over the years. I recently dined at Milano North. I had the Veal Parmesan. It was, in a word, fantastic! Veal Scaloppine with Marinara and Fresh Mozzarella, served with Linguini and Marinara Sauce - YUM!!!
I don't know if you've been to Milano North recently or at all, but you should. The atmosphere is really great. It's a large open space, but I always have a sense of privacy there. I really enjoy looking out over Main Street, especially in the winter when it's snowing.
It's much different now from when they first opened. They have made the menu understandable and have worked out any kinks they may have had. Let's not forget that it is the only restaurant on that stretch of Main Street where you don't have to fight for parking!!! That's big!
Milano North also makes some of the best wood fired oven Pizzas in town. I like to go with a friend, have some wine and dine at the Bar. I recommend trying it next time you're looking for a place to eat on Main Street.
Lastly, word is that they will soon have a fire pit on the patio. That should be interesting.
For reservations you can call 518-523-3003. They are on the web at http://www.milanonorth.com/

JvLs

Anyone in need of a Sping/Fall Clean or Carpet Cleaning?

2009-11-24T11:20:00.000-08:00

A short time ago, I had the pleasure of meeting Julianne Fraser. She owns and operates Great Camp Detailing. She offers Cleaning Services for Vacation Homes, Private Residences, Rental Units, Home Showings & Post Construction, as well as Concierge Services.
Julianne recently Purchased H & H Carpet Cleaning Services. I wanted to try her and see how she did with carpet cleaning, as Vacation homes always should have clean carpets.
Great Camp cleaned two properties for me. I am 100% satisfied with the outcome. They did a great job.
Please go to http://www.greatcampdetailing.com for contact info, or call Julianne at 518-926-8845.

John

Finding the Right Vacation Home (with Vacation Rental Potential

2009-11-24T09:32:00.000-08:00

Achieving the above is not as easy as it sounds. Making the wrong decisions could cost you thousands of dollars..
There are many things that go into find the right Vacation Home for you. First, you need to ask yourself what you want out of your home away from home. Are you purchasing solely for your families needs and not concerned with renting it? Or is Vacation renting it going to be a reality for you? Either way, the most important factor, as always, is LOCATION!
Why is location so important? Well, if you are buying the home strictly for your own use with no plans of renting it out, you still need to purchase in a desirable location. You may not be interested in renting it, but the next owner may be. Desirable locations would include Resorts, such as the Whiteface Club or Lake Placid Club in Lake Placid. Country settings, such as Placid Meadows and lake front settings, such as Lake Placid, Lower and Upper Saranac Lakes, Spitfire, Osgood Pond and Mirror Lake to name a few.
Lake Placid is an ideal location for a vacation home, because it's center to everything and there are many activities to keep your family occupied when you're not out skiing, golfing, boating or hiking. A property in close proximity to the Village is always a win, win. However, Lake Placid is not the only desirable location in the 6.5 million acres that comprise the Adirondack Park. My advice is to research the different areas you like. I am always available to help you find your dream vacation home.
If you want to maximize your Vacation Rental Potential, the number of bedrooms is very important. Two bedrooms is OK, three are better than two and four are better than three. The ideal set up is a King size bed in the master, a Queen in the second bedroom, a double and a twin in the third bedroom and a set or two of bunks in the fourth bedroom. A fireplace is a must for the winter months. It can be gas burning, but should be surrounded by river stone if that's the case.
A good size, family friendly kitchen works great too. It should be fully equipped with all the modern conveniences for your guests. Comfy chairs and couches are essential in the living areas, as well as upgraded cable or satellite TV and High Speed or Wireless Internet (yes, people do check email while on vacation :)
If you really want to "rock the house", install a 6 - 8 person outdoor Hot Tub! It will pay for itself many times over.
You also want to make sure your home is up-to-date. A remodelled kitchen and bathrooms go a long way towards getting rentals and then having those renters come back. You must always find ways to keep your property fresh. It doesn't always have to involve renovating, remodelling or adding on. Paint can go a long way. So can new window treatments, bed spreads, etc.
A long time friend of mine from Montclair purchased a vacation home from me in Lake Placid late 2005. The house was a little rough. It is a ranch style home on Cold Brook (the Lake Placid Outlet). It is a five bedroom, 2.5 bathroom 3000 (+/-) home. It has an open floor plan, three bedrooms and 1.5 baths on the main level and a large open room, two bedrooms and a bathroom and an additional family room on the lower level.
After he and his wife purchased the home, they completely renovated it. It was a four bedroom, two bathroom home with wall to wall carpeting throughout, including the kitchen. They made some smart decisions with the renovations. Adding the additional bedroom was key. They had new hardwood floors installed throughout the main level, installed a jetted tub in the full bathroom, added a breakfast bar to the kitchen, had all the trim redone, changed out the hollow fake doors for solid six panel doors, etc. and so forth. I helped oversee the project for them. All told, they invested approx. $100,000 in renovating the home.
Now, this is a guy who really didn't have renting it in mind. He bought it with family use first and foremost on his mind. If he could pick up some money to help pay taxes and maybe some of the expenses he would be happy. He was expecting to gross maybe $10,000 a year.
Well, I didn't say anything, but I was smiling throughout out the purchase and renovation period. I knew that the location was not just an inside the park home run. I knew the ball would clear the stadium and land somewhere in the parking lot. Then throw in the renovations. We decided that a game room for the lower level would work pretty well, so we went out and bought an air hockey table, dart board, foose ball table and a few other things. They furnished the home tastefully with comfortable couches, chairs and mattresses.
The house is really amazing and a testament to what can be done with a little money and a little effort. So, the house is now done. Dave, Maria and their kids come up for MLK weekend 2006. They had a great weekend. The home flows very well and is large enough that the kids can find their own space. We went out on the deck for a bit. All the stars were out, the brook was rushing by below. I remember thinking - "Man, what a great place!" and oly a 1/2 mile to Main Street.
The weekend ended and on the rental market it went. The first year we did about $18,000, the second year we did about $25,000 and we've been steady around $35,000 per year in gross since.
He does not have a fireplace or an outdoor hot tub. If he added those things, and if I have anything to say about it, he will, he could gross as much as $60,000 per year!
Now, that same home driving distance from Main Street, say four miles give or take, may not fair as well. But he has the location, the number of bedrooms, amenities and has updated the house perfectly. Even if they didn't rent the house at all, it was a smart decision to purchase it, because of the right factors. The home is, and always will be very, desirable.
The fact is that you get a mixture of people that want to be within walking distance of Main Street and people that want to be a little bit away from it. It can be hit or miss. But working with a Realtor(c) can maximize your chances for success. Happy Home Buying!!!

Ask me anything

2009-11-18T16:17:00.000-08:00

In short. My goal with this Blog is to provide information about Buying, Selling, Renting and Managing property.
There will also be informative articles about the art of selling for any colleges that may read this. But everyone may benefit from that information, as everything is for sale.
I encourage you to participate by asking questions about whatever is concerning you with Real Estate and beyond.
I plan on updating every Tuesday. Look for my next posting, it's going to be good.

John

Finding the balance

2009-11-18T08:56:00.000-08:00

How do you achieve a balance with your vacation rental property? First, you need to understand the components.
The first component is Average Daily Rate (ADR)
The second component is Occupancy
Of course you want the best ADR possible with the highest level of occupancy. Rate is really the key to your year end gross. If your rate is too high, your occupancy will go down. There is not such a thing as too low of a rate in my opinion. The lower the nightly rate, the more tenants you'll have. It depends on what you're comfortable with.
There is such a thing as too high though. You must find the balance between ADR and occupancy. It is magic once you find the right number.
For someone trying to figure out what that magic number is, it is a matter of testing the market. You may want to advertise a three bedroom, three bathroom property at $$450.00 per night to start. If you are getting a ton of inquiries and bookings, you can think about raising it a bit. If your inquiries and bookings are not steady, you will want to lower the nightly rate.
That's it for today. Questions anyone?