Articles Tagged "Holidays"

Whether you're still looking at Albany homes for sale or have already found the perfect one, you probably can't wait to decorate your home for Christmas. The Christmas tree is the central decoration in many families, and it makes a home feel so cozy and warm. But do you put up a real tree or an artificial one? Here are some factors to consider if you're still deciding between the two.

• Does Anyone in Your Home Have Allergies?
  Some people are allergic to the pollen or sap of real pine trees. If you or someone in your home has ever experienced a pine allergy, you're better off opting for an artificial tree. Even if the allergy symptoms are mild when exposed to trees outdoors, they're likely to be more serious indoors where you have limited airflow. You don't want to spend the whole holiday season sneezing and rubbing your eyes because of your Christmas tree.

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This holiday season, shopping small is more important than ever! Our real estate agents love exploring local shops and sharing their finds with new residents.

Whether you decide to wait for Small Business Saturday or you're ready to start your shopping now, we recommend paying a visit to these nearby retailers. 

• T&J Handcrafted Soap: 271 River St., Troy, NY 12180
  Handmade soaps make great stocking stuffers, gifts for coworkers, or additions to larger gift baskets. At T&J Handcrafted Soap, you'll find over 40 different varieties of soap. Some are made from local beer, wine, and tea! They also have a selection of other body products — like fizzies, soaks, lotions, and hand-poured soy candles.  
  
  This shop is located near some of the best Troy homes for sale, so we recommend taking a drive around after you're done shopping. You never know, you just might come across your dream home.

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You don't need a real estate license to find your dream home, but it does help to become familiar with the real estate jargon you might encounter during the process. When searching for a home or applying for a mortgage, you may hear your real estate agent or lender use any of the terms or acronyms below.

Keep this four-part guide handy — you'll be fluent in the language of home buying before you know it.

When you're searching for a home

• Approved for short sale: A term that indicates that a homeowner's bank has approved a reduced listing price on a home, and the home is ready for resale.
• Buyers market: Market conditions that exist when homes for sale outnumber buyers. Homes sit on the market a long time, and prices drop.
• Comparative market analysis (CMA): An in-depth analysis, prepared by a real estate agent, that determines the estimated value of a home based on recently sold homes of similar condition, size, features and age that are located in the same area.
• Comps: Or comparable sales, are homes in a given area that have sold within the past six months that a real estate agent uses to determine a home's value.
• Days on market (DOM): The number of days a property listing is considered active.
• Listing price: The price of a home, as set by the seller.
• Multiple listing service (MLS): A database where real estate agents list properties for sale.
• Sellers market: Market conditions that exist when buyers outnumber homes for sale. Bidding wars are common.
• Short sale: The sale of a home by an owner who owes more on the home than it's worth. The owner's bank must approve a lower listing price before the home can be sold.

When you're applying for a mortgage

• Back-end ratio: One of two debt-to-income ratios that a lender analyzes to determine a borrower's eligibility for a home loan. The ratio compares the borrower's monthly debt payments to gross income.
• Depository institutions: Banks, savings and loans, and credit unions. These institutions underwrite as well as set home loan pricing in-house.
• Debt-to-income ratio (DTI): A ratio that compares a home buyer's expenses to gross income.
• Housing ratio: One of two debt-to-income ratios that a lender analyzes to determine a borrower's eligibility for a home loan. The ratio compares total housing cost (principal, homeowners insurance, taxes and private mortgage insurance) to gross income.
• Loan estimate: A three-page document sent to an applicant three days after they apply for a home loan. The document includes loan terms, monthly payment and closing costs.
• Loan-to-value ratio (LTV): The amount of the loan divided by the price of the house. Lenders reward lower LTV ratios.
• Origination fee: A fee, charged by a broker or lender, to initiate and complete the home loan application process.
• Pre-approval: A thorough assessment of a borrower's income, assets and other data to determine a loan amount they would qualify for. A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home.
• Pre-qualification: A basic assessment of income, assets and credit score to determine what, if any, loan programs a borrower might qualify for. A real estate agent will request a pre-approval or pre-qualification letter before showing a buyer a home.
• Underwriting: A process a lender follows to assess a home loan applicant's income, assets and credit, and the risk involved in offering the applicant a mortgage.

When you're shopping for a mortgage

• Conventional loan: A home loan not guaranteed by a government agency, such as the FHA or the VA.
• Down payment: A certain portion of the home's purchase price that a buyer must pay. A minimum requirement is often dictated by the loan type.
• Fannie Mae: A government-sponsored enterprise chartered in 1938 to help ensure a reliable and affordable supply of mortgage funds throughout the country.
• Federal Housing Administration (FHA): A government agency created by the National Housing Act of 1934 that insures loans made by private lenders.
• FHA 203(k): A rehabilitation loan backed by the federal government that permits homebuyers to finance money into a mortgage to repair, improve or upgrade a home.
• Foreclosure: A property repossessed by a bank when the owner fails to make mortgage payments.
• Freddie Mac: A government agency chartered by Congress in 1970 to provide a constant source of mortgage funding for the nation's housing markets.
• Mortgage broker: A licensed professional who works on behalf of the buyer to secure financing through a bank or other lending institution.
• Mortgage interest rate: The price of borrowing money. The base rate is set by the Federal Reserve and then customized per borrower, based on credit score, down payment, property type and points the buyer pays to lower the rate.
• Piggyback loan: A combination of loans bundled to avoid private mortgage insurance. One loan covers 80% of the home's value, another loan covers 10% to 15% of the home's value, and the buyer contributes the remainder.
• Principal, interest, property taxes and homeowners insurance (PITI): The components of a monthly mortgage payment.
• Private mortgage insurance (PMI): A fee charged to borrowers who make a down payment that is less than 20% of the home's value. The fee, 0.3% to 1.5% of the yearly loan amount, can be canceled in certain circumstances when the borrower reaches 20% equity.
• Points: Prepaid interest owed at closing, with one point representing 1% of the loan. Paying points, which are tax deductible, will lower the monthly mortgage payment.

When you've chosen a home

• American Society of Home Inspectors (ASHI): A not-for-profit professional association that sets and promotes standards for property inspections. Look for this accreditation or something similar when shopping for a home inspector.
• Cash-value policy: A homeowners insurance policy that pays the replacement cost of a home, minus depreciation, should damage occur.
• Closing costs: Fees associated with the purchase of a home that are due at the end of the sales transaction. Fees may include the appraisal, the home inspection, a title search, a pest inspection and more. Buyers should budget for an amount that is 1% to 3% of the home's purchase price.
• Contingencies: Conditions written into a home purchase contract that protect the buyer should issue arise with financing, the home inspection, etc.
• Earnest money: A security deposit made by the buyer to assure the seller of his or her intent to purchase.
• Escrow account: An account required by a lender and funded by a buyer's mortgage payment to pay the buyer's homeowners insurance and property taxes.
• Escrow state: A state in which an escrow agent is responsible for closing.
• Home inspection: A non-destructive visual look at the systems in a building. Inspection occurs when the home is under contract or in escrow.
• Homeowners insurance: A policy that protects the structure of the home, its contents, injury to others and living expenses should damage occur.
• In escrow: A period of time (30 days or longer) after a buyer has made an offer on a home and a seller has accepted. During this time, the home is inspected and appraised, and the title searched for liens, etc.
• Title insurance: Insurance that protects the buyer and lender should an individual or entity step forward with a claim that was attached to the property before the seller transferred legal ownership of the property or "title" to the buyer.
• Transfer taxes: Fees imposed by the state, county or municipality on transfer of title.
• Under contract: A period of time (30 days or longer) after a buyer has made an offer on a home and a seller has accepted. During this time, the home is inspected and appraised, and the title is searched for liens, etc.
• Walkthrough: A buyer's final inspection of a home before closing.

When you own a home

• Equity: A percentage of the home's value owned by the homeowner.
• Homeowners Association (HOA): The governing body of a housing development, condo or townhome complex that sets rules and regulations. They charge dues used to maintain common areas.
• Property tax exemption: A reduction in taxes based on specific criteria, such as installation of a renewable energy system or rehabilitation of a historic home.
• Tax lien: The government's legal claim against property when the homeowner neglects or fails to pay a tax debt.

Find out what else you can do to prepare for buying a home here.

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Mother's Day brunch is the perfect way to show Mom your care. Our real estate agents think you'll enjoy the delicious options at these Central New York destinations:

• The Marriott Syracuse Downtown - 100 E. Onondaga St., Syracuse, NY 13202
  When you want to honor Mom with more than a meal, why not make it a truly special event in the Grand Ballroom of this beautiful hotel? She'll enjoy her favorite culinary delights, be they seafood, pasta, or exquisite desserts. Three seating opportunities will be available between 9:30 AM and 1 PM. Tickets are $49/adults and $20 for children between 6 and 12 years old. Children under 6 are free of charge. With limited seating, this offer will likely sell out quickly.

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Real Estate and Women: A Perfect Pairing

Without a doubt, 2020 was a year that no one will ever forget – and for Coldwell Banker Prime Properties, that's not just because of the pandemic. Last year, we grew by double digits, expanded into new markets, and helped more than 6500 individuals find a place to call home. At the core of our surging success is our local leadership teams, which are made up of 22 individuals, 18 of whom are women.

As a top 2% Coldwell Banker affiliate, we are especially proud this year to celebrate Coldwell Banker's recent honor of the Women's Choice Award. The Women's Choice Award is the only award that recognizes and identifies brands that women recommend.

At Coldwell Banker, we value women in real estate. I am beyond proud to work for a brand that empowers women to take on leadership roles and strives to make the industry better. Through our work with our Inclusive Ownership program and What Moves Her initiative, we are continuously exploring new ways to support leadership development, promote shared values, and provide resources for enhancing leadership tools and capabilities for women in the industry." – Liz Gehringer, chief operating officer of Coldwell Banker Real Estate.

Not only is Coldwell Banker recommended as a brand to work with, but as real estate leaders in customer experience and quality, Coldwell Banker Prime Properties is an incredible place to work for.

Want to BE PART OF THE COLDWELL BANKER BRAND? Contact one of our local branch offices today!

Real Estate and Women: A Perfect Pairing

Without a doubt, 2020 was a year that no one will ever forget – and for Coldwell Banker Prime Properties, that's not just because of the pandemic. Last year, we grew by double digits, expanded into new markets, and helped more than 6500 individuals find a place to call home. At the core of our surging success is our local leadership teams, which are made up of 22 individuals, 18 of whom are women.

As a top 2% Coldwell Banker affiliate, we are especially proud this year to celebrate Coldwell Banker's recent honor of the Women's Choice Award. The Women's Choice Award is the only award that recognizes and identifies brands that women recommend.

At Coldwell Banker, we value women in real estate. I am beyond proud to work for a brand that empowers women to take on leadership roles and strives to make the industry better. Through our work with our Inclusive Ownership program and What Moves Her initiative, we are continuously exploring new ways to support leadership development, promote shared values, and provide resources for enhancing leadership tools and capabilities for women in the industry." – Liz Gehringer, chief operating officer of Coldwell Banker Real Estate.

Not only is Coldwell Banker recommended as a brand to work with, but as real estate leaders in customer experience and quality, Coldwell Banker Prime Properties is an incredible place to work for.

Want to BE PART OF THE COLDWELL BANKER BRAND? Contact one of our local branch offices today!

Warm summer weather and vibrant fall foliage are well and good, but our real estate agents really love the Adirondacks in winter. When the snow flies and the ski lifts start lifting, there's simply no better place to be. 

The Adirondack Mountains offer an incredible wealth of winter activities, from sledding and ice fishing to snowshoeing and—of course—skiing. Check out these five amazing winter hot spots in the ADK this season!

• Northville-Lake Placid Trail - Cedar River Rd., Indian Lake, NY 12842
  The Adirondacks are home to seemingly endless miles of hiking and cross-country skiing trails, but the Northville-Lake Placid Trail is criminally underrated. This 136-mile pathway sticks to the valleys between the Adirondacks' tallest mountains, lined by dense stands of hemlock and pine. The views along the way are breathtaking, and it's a relatively easy trek by snowshoe or ski. There are dozens of access points along the way, but the southernmost trailhead is right on Main Street in the village of Northville, a stone's throw from these Northville homes for sale.

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With Valentine's Day right around the corner, many men and women will be faced with a decision — do you get the one you love flowers or chocolate? Our real estate agents have a simple solution: get them both! A fresh bouquet of flowers paired with a delectable box of chocolates creates an unforgettable gift that your special someone will love. Best of all, the variety of chocolate and bouquets available lets you customize each gift set for your family members, friends, and loved ones. Visit these Capital Region florists and chocolate shops to make Valentine's Day extraordinary.

Florists Around the Capital Region

• The Posie Peddler — 92 West Ave. Saratoga Springs, NY 12866
  Schrades Posie Peddler has a history dating back to Schrades Flowers in 1910. The Posie Peddler, opened in 1974 as a continuation of Schrades' flower shop greenhouses, is located in the old red schoolhouse just feet from vintage Saratoga Springs homes for sale and has a stunning selection of flowers ready to send to your loved ones.

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There's no doubt that the holiday season is one of the most wonderful times of the year when you call Upstate New York home, and local light displays are a big reason why. The tradition of light shows in our area dates back decades, creating enchanting family memories and helping locals get into the holiday spirit. This year is no exception, with legendary holiday light shows taking place across a wide variety of local communities. Our real estate agents are ready to ring in the holidays, and we've got the details on the best holiday light displays to visit around Upstate New York.

Holiday Light Displays Around Upstate New York

• Price Chopper/Market 32 Holiday Lights – Washington Park – State and Willet Streets, Albany, NY 12210
  With a history that includes more than 30 years of spectacular light shows, the Price Chopper/Market 32 Holiday Lights is the perfect place to get in the holiday spirit close to Albany homes for sale. Take a scenic drive through the park to see all of the lights, then visit the Washington Park Lakehouse to enjoy crafts, refreshments, and meetings with Santa.

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Giving Tuesday is a time to remember to give back to the community. This year, Giving Tuesday takes place on December 3rd, and our real estate agents encourage you to donate to one of these great area charities.

1. The Oley Foundation — 43 New Scotland Ave., MC 28 Albany Medical Center, Albany, NY 12203 
   The Oley Foundation seeks to enrich the lives of those who rely on intravenous or tube feeding for nutrition. They offer life-altering education, advocacy, and networking programs as well as provide patients with free supplies and equipment they need to improve their quality of life.

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Lace up your running shoes! Fall is upon us, which means it's a great time to participate in these fun Thanksgiving turkey trots in the Albany, NY area. We're always excited to get out and enjoy a brisk run in the crisp fall air, and our real estate agents look forward to hitting the pavement with you this season!

• Girls on the Run Capital Region 5K - 1 Quay St., Albany, NY 12207
  On Saturday, November 23, the Capital Region's annual Girls on the Run 5K returns to Albany, benefiting a great non-profit organization that motivates and encourages girls to develop self-respect and healthy lifestyles. Registration is now open for individuals and teams of all ages. The event gets started at Jennings Landing, just minutes from Albany homes for sale, and offers a great view of the city along its 3.1-mile course.

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Our REALTORS® know the importance of celebrating the last days of summer. Labor Day marks the changing of the seasons, but it doesn't have to be the end of fun!

Visit the Albany area, and you'll find plenty of enjoyable things to see and do on Labor Day weekend. Outdoor activities are especially popular as the weather is cool, but not yet chilly.

From exhibition games to hard-fought tournaments, cultural events to concerts under the stars, Albany has a little bit of everything this Labor Day season. With so many towns and cities around the region planning something special, it's bound to be another great year.

The only question is this: Which terrific events will you choose to attend?

Say goodbye to summer in style with some of these exciting happenings:

1. Jim Gaudet and The Railroad Boys – 4 Clinton Square, Albany, NY 12207
   Albany homes for sale are near some of the best music venues in the Capital District, including McGeary's pub. Known for Irish "pub grub" and decor, McGeary's is also celebrated for weekly live music. This Labor Day, you're invited to enjoy Jim Gaudet and The Railroad Boys. This musical ensemble recalls the bluegrass sounds of Louisiana in the 1960s.
   
   
2. Labor Day at Mountain Ridge Adventure – 300 Weatherwax Road, Schenectady, NY 12302
   Schenectady homes for sale aren't far from popular Mountain Ridge Adventure, the treetop challenge course and zip line park that's fun for all ages. The annual Labor Day get-together will include a mouth-watering barbecue along with access to zip lines and the adventure park. Young adventurers can cross a 500-foot gorge and zoom to a maximum height of 70 feet.
   
   
3. Capital District Scottish Games – 129 Grand Street, Altamont, NY 12009
   Altamont homes for sale are within reach of the famous Capital District Scottish Games at the Altamont Fairgrounds. These classic highlands games will wow you with events such as caber tossing and the pipe band competition. Naturally, lavish Scottish cuisine will be served. This is the 42nd year of the Games, which draw about 12,000 visitors annually.
   
   
4. BringIt and SwingIt Labor Day Tournament –  6363 Frenchs Mill Road, Guilderland Center, NY 12085
   The 77th Annual BringIt and SwingIt Labor Day Tournament, minutes from Guilderland homes for sale, is a kids' baseball tournament featuring a minimum four games. Held in Roger Keenholts Park, it showcases the talents of players aged eight and up. Each player will get a gift, free hot dog, and beverage. It's sure to be a memorable time for these young athletes!
   
   
5. Tri-City Valley WildCats vs. Vermont Lake Monsters – 80 Vandenburgh Avenue, Troy, NY 12180
   Troy homes for sale are at the center of the action when the End of Summer Bash brings together Minor League Baseball rivals: The Tri-City Valley WildCats vs. Vermont Lake Monsters. You'll have the perfect way to spend your Labor Day starting at 3 p.m. on Monday, September 2. Located at the historic Joseph L. Bruno Stadium, it's sure to be a fun time for all!

Whether it's the height of summer or its waning days, CB Prime Properties is here for you.

We have helped home buyers find the perfect home here in the Capital District. Our years of experience and exceptional customer service make the process easier. 

Contact us today and discover everything Albany has to offer.