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Lake Placid Real Estate Updates Tips For Buying in the Adirondacks

Margie Philo, Real Estate Broker & Owner

Margie Philo, Real Estate Broker & Owner

Berkshire Hathaway HomeServices Adirondack Premier Properties

Welcome to “The Brokers Suite,” our blog with updates about new listings, real estate buying and selling tips, and more real estate topics updated regularly. Stay up to date with the latest Adirondack and Lake Placid real estate market information. Find insider advice and tips to assist you in selling or buying a residential or commercial property in the Adirondacks.

"Where Experience Isn't Expensive, it’s Priceless."

Lake Placid Real Estate Market Expert

See below for our latest blog posts. Some posts are republished as part of the Berkshire Hathaway Home Services collection of real estate education content.

Five Home Décor Trends for 2022

Five Home Decor Trends

The way Americans use their homes has changed since the advent of the pandemic and has encouraged interior design trends for 2022.  These ideas are so smart, they’re likely to stick around even after the pandemic is over. Smart furniture – According to Puffy.com, the smart furniture industry is on track to reach $244 million by 2024. Televisions can double as artwork when turned off, couches, beds, and chairs offer charging ports, but most exciting are coffee tables that come with refrigerator drawers so you never have to leave the game to grab a cold one. Muted but colorful décor Read More

March 18th, 2022

Built in, Outdoor Bar-b-que Grills

Outdoor Grill

Building an outdoor grill in your backyard can help you enjoy pleasant weather while providing your family with delicious meals. Whether you do it yourself, hire a landscape architect, or get a kitchen specialist to design your outdoor kitchen, you’ll take full advantage of your outdoor space and the comforts and entertainment it can provide. There are many items to consider when installing a built-in outdoor grill, including location, ventilation, type of grill, and features. Will you need to install a gas line to the grill? Will there be water available? Do you plan to have other kitchen functions such Read More

March 11th, 2022

March 2022 Newest Properties

Adirondack Chalet In Lake Placid - Aerial Mountains and Olympic Center

RESIDENTIAL TWO HOMES IN SARANAC LAKE 7 BED  |  6 BATH  |  $790,000 Situated on a very private park like setting of 4.1 acres are two architecturally designed homes that blend traditional and contemporary Adirondack styles. CLICK HERE to view more.   BEAUTIFUL RANCH IN JAY 3 BED  |  2 BATH  |  $399,000 Beautiful 3 bedroom, 2 bathroom Ranch with a partially finished basement in a quiet residential neighborhood. Close to Whiteface Mountain for skiing and Lake Placid Village only 20 minutes away. CLICK HERE to view more.   ADIRONDACK CHALET IN LAKE PLACID 4 BED  |  2 BATH  |  Read More

March 7th, 2022

Late Payments and Credit Scores

Late Payments And Credit Scores

Consumers who make late credit payments have no idea how badly their credit scores can be affected or how long it takes to repair the damage.  According to Nerdwallet.com, a late payment of 30 days or more can knock as many as 100 points off your credit score and stay on your credit report for up to seven and a half years. FICO scores, the credit-scoring system used by the Fair Isaac Corporation, help banks and other lenders determine a borrower’s creditworthiness. Your scores can change with every new report from a creditor, but nothing impacts credit scores like a Read More

March 4th, 2022

Three Home Trends That Will Stay Around

Side table with chair with three home trends that will stay around written over the top

The way Americans use their homes has changed since the advent of the pandemic. Once many activities were significantly curtailed or eliminated, from going to the office or school, travel, and other entertainment, homeowners spent more time at home. Here are some home design trends for 2022 that may stick around after the pandemic is over. Smart furniture According to Puffy.com, the smart furniture industry is on track to reach $244 million by 2024. Televisions can double as artwork when turned off, couches, beds and chairs offer charging ports, but most exciting are coffee tables that come with refrigerator drawers, Read More

February 25th, 2022

Outlook For 2022 Housing Market

House With Outlook For 2022 Housing Market written on top

Housing was one of the strongest sectors of the economy for 2021, but rising interest rates and inflation are causing many to wonder if sales will continue as strong in 2022. Lawrence Yun, chief economist for the National Association of REALTORS, believes the number of home sales will decline in 2022 but will still outpace pre-pandemic levels, based on continuing demand from homebuyers. More inventory is becoming available from home builders and from homeowners who will no longer receive loan forbearance and may decide to sell their homes instead. Goldman Sachs economists predict that home prices will climb another 16%, reports Read More

February 18th, 2022

How Inquiries Impact Your Credit Scores

Person checking credit score with how inquiries impact your credit scores written over

Mortgage lenders depend on the information found in credit reports and credit scores. One of the numbers that cause fluctuations in a consumer’s credit scores is inquiries. Inquiries, according to Equifax.com, are “entries that appear on your credit report when your credit information is accessed by a legally authorized person or organization (including yourself).” Inquiries can include “an application for credit, goods or services; an account review made by a company that you already do business with; or a pre-approved offer of credit.” Inquiries can be either hard or soft. Soft inquiries such as account reviews, pre-approved credit applications, and Read More

February 11th, 2022

The Most Critical Period For New Listings

Person looking at map on computer with the most critical period for new listings written over the top

Your home’s marketing begins when your Berkshire Hathaway HomeServices network professional submits your listing to the local multiple listing service, or MLS. Brokers share their listings with other brokers in the MLS, making it the best chance of selling your home quickly and for the most money. During the critical first two weeks of marketing, your listing agent will schedule your home on the MLS tour for other agents to see as well as contact their network to let them know your house is coming on the market. The MLS distributes data about your home on the MLS website, your Read More

February 4th, 2022

February 2022 Newest Properties

RESIDENTIAL RANCH ON NORMAN RIDGE 3 BED  |  1 BATH  |  27.45 ACRES  |  $399,000 Magnificent views from this 27.45 acre parcel of land for building a new beautiful home. Located at the top of a scenic knoll with excellent mountain views. CLICK HERE to view more   TOWNHOMES/CONDOS/TIMESHARES HERON #5 TOWNHOME AT THE AMPERSAND RESORT 3 BED  |  3 BATH  |  $675,000 The Heron # 5 Townhome of beautiful Ampersand Resort is a year round fully furnished 3 bedroom Townhome on Lower Saranac Lake with a large sandy beach, marina and part of Phase 1 offerings.   LOTS & Read More

February 4th, 2022

Renting Out a Room in Your Home

We’re living in a sharing economy, says Realtor.com, so it should be no surprise that 69% of homeowners in a recent survey would rent out part of their home if it had a separate entrance, kitchen and bathroom and 32% have already rented out a room, space or outdoor feature on their property. You can generate extra income by renting out a space in your home, but the price is a loss of privacy. You’ll be a landlord, so you’ll need to know about renting as a business, your community’s regulations and fair housing laws. Rentprep.com recommends finding out about Read More

January 28th, 2022

How to Negotiate with Difficult Sellers

Before you submit an offer to buy a home, you don’t know how the seller is going to respond. Some sellers are challenging – they don’t want complications or compromises. They can demand all-cash offers, no inspections and for you to pay over list price. The only thing you can do is make it hard for the seller to be difficult. Ask your Berkshire Hathaway HomeServices network professional to contact the seller’s agent to find out what the seller wants as far as terms, if they’re open to doing any repairs and if other offers are on the table. The Read More

January 21st, 2022

The Real Mortgage Rate – Or Is It?

Advertised rates look tempting, but don’t be fooled into thinking that’s the rate you’ll pay. You have to qualify to receive the best rates with excellent credit and work histories. According to  BankofAmerica.com, interest rates are the annual cost of a loan to the borrower expressed as a percentage. The annual percentage rate or APR, is the annual percentage plus other fees, including mortgage insurance, many closing costs, discount points and loan origination fees. The Federal Truth in Lending Act requires lenders to disclose the APR in advertising and in loan agreements. When you apply for a mortgage loan, the Read More

January 14th, 2022

January 2022 Newest Properties

RESIDENTIAL   LAKE CLEAR CHALET 2 BED  |  1 BATH  |  $329,000 A nice property outside the village with great outdoor yard space and close proximity to all outdoor activities. CLICK HERE to view more.   UPPER JAY LOG HOME 4 BED  |  1 BATH  |  $425,000 Upper Jay 4 bedroom 1.5 bath Adirondack log home with detached 2 car garage and 1 bedroom 1 bath apartment being sold fully furnished.   BACK ON THE MARKET!  HISTORIC LAKE PLACID COTTAGE 7 BED  |  4 BATH  |  $1,300,000 A historic Lake Placid home in the prestigious Signal Hill area now licensed Read More

January 13th, 2022

Add Pizazz to Your Bland Kitchen

Neutral kitchens are supposed to complement any décor, but they can become bland over time. What can you do to make your kitchen more exciting? Make it artsy Art galleries have neutral walls because they don’t compete with the art, so hang a colorful abstract painting in a key location. Have fun with artistic-themed dishtowels, placemats, and dishes, instead of classic motifs like roosters and other farm animals or Italian chefs with curling mustaches. Try a washable rug or runner with a colorful modern pattern. Fold in some color Neutral décor is decorating for the next occupant of your home, Read More

January 7th, 2022

How Much Paint Should You Buy?

How Much Paint Should You Buy Image

Conventional wisdom says that it takes approximately one gallon of paint to cover a room up to 400 square feet, but this is a single-coat estimate is for a small room like a bathroom, according to Glidden.com. But other variables impact how much paint you should buy, such as the size and number of doors to the room, the height of the ceiling, the size and number of windows and whether you have crown molding, wainscotting and other decorative elements. Your favorite brand of paint most likely has a rough online calculation tool, such as BenjaminMoore.com, as well as a Read More

December 17th, 2021

Ways Your Monthly Payments Can Change

This is one of the best times to get a fixed-rate mortgage. Since interest rates have hovered near record lows for years, they’re bound to go up rather than further down. You could get lower mortgage payments temporarily with an adjustable rate mortgage or hybrid loan that employs a fixed rate for five years or so and adjusts to market rates when the fixed term expires. Your payment could reset to a much a higher and less affordable interest rate in the future. A far safer option is the fixed rate mortgage with a rate that never changes over the Read More

December 10th, 2021

December 2021 Newest Properties

RESIDENTIAL THE CASTLE HOUSE IN KEENE 3 BED  |  2 BATH  |  $575,000   The Castle House, built in 1890 is a Keene village landmark. This prominent 3 story Victorian has been meticulously restored in conjunction with the Historic Society. The woodworking, detail & craftsmanship is truly a work of art.     COTTAGE IN RAINBOW LAKE 3 BED  |  2 BATH  |  $159,900 A well priced home being sold below the newly appraised price of $185,000. Being sold as is with no deductions on the selling price.     HISTORIC PEACOCK FARM ON BEAR CUB 4 BED  |  2 Read More

December 3rd, 2021

Slowing Sales Create Opportunity

After an astonishing 114 consecutive months of year-over-year home price gains, existing home sales eased two percent on a seasonally adjusted annual rate between July and August 2021.  Have rising home prices finally become too much for homebuyers? Not yet. The median existing-home sales price rose 15% year-over-year, according to The National Association of REALTORS (NAR), largely due to a continuing dearth of available homes for sale. Existing supplies nationwide are at a meager 2.6 months on hand, which means that at the current sales pace, supplies would end quickly. Most impacted by slim inventories and rising prices are first-time Read More

November 26th, 2021

Should You Refinance To 15 Years?

Appraisals establish the value of a given home, making them extremely important to lenders, tax authorities, the housing industry, the economy, builders, buyers, and sellers. They’re integral to building home equity and wealth, giving advantages to some homeowners and disadvantages to others. Many lenders use automated valuation models to save time and money more so than to limit human bias, but historical data submitted by appraisers with conscious or unconscious bias, particularly in majority black and ethnic areas, may be subject to decades of undervaluation. Appraisers limit competition by requiring candidates to undergo apprenticeships to become licensed, yet  Octoberresearch.com found Read More

November 19th, 2021

Compare Interest Rates And APRs

When you apply for a mortgage, you may not pay the advertised rate. The best rates are for those homebuyers with the best credit scores. However, lenders are competitive, so you’d be wise to apply to several lenders at once. You’ll receive a loan estimate that you can compare side-by-side. First, compare the interest rates. According to Nerdwallet.com, there are many factors that affect interest rates, from the economy to inflation, to the Federal Reserve’s overnight borrowing rates to banks. You can’t do much about that, but you can influence the factors that lenders look for. If you have a Read More

November 12th, 2021

November 2021 Newest Listings

RESIDENTIAL   NEWLY BUILT AT THE WHITEFACE CLUB 3 BED   |   3 BATH  |   $1,395,000   A newly built home on the 16th golf fairway with affiliation to the Whiteface Club Resort amenities. Conveniently located just steps to the Golf Clubhouse with restaurant, Lake Placid lakefront sandy beach, tennis courts and 2 additional restaurants.     SEASONAL CAMP ON BARTLETT CARRY 1 BED   |  5.5 ACRES  |   $159,000 Enjoy a peaceful, wooded setting with plenty of wildlife in this private seasonal camp. CLICK HERE to view more information & photos.   PRIVATE CHALET IN SARANAC 2 BED   |  2 BATH Read More

November 5th, 2021

Planting Winter Garden Vegetables

According to some experts, the term winter garden is a misnomer. Winter garden plants mature and are ready to eat when the winter months come around. They’re able to tolerate chilly rains and big drops in temperature. With the right timing and care, you can cultivate your own winter vegetable garden that will provide delicious produce. Planting should begin mid to late summer or early fall. You can build a cold frame that covers your crops, protecting them against seasonal winds and frost damage while they utilize the sun to grow, and reuse the frames for seed propagation in spring Read More

October 29th, 2021

Shopping for Antique and Vintage Furnishings

Mixing antique and vintage items with your contemporary furnishings can add elegance, character and personality to your decor. They can enhance a modern interior with an interesting eclectic vibe. An antique must be 100 years old or older, while vintage is any item over 20 years old that’s iconic of an identifiable style like Mid-century or Craftsman. Take some time to train your eye to quality by visiting numerous outlets for specific furniture or accessories. Plumdeluxe.com advises that any piece with provenance in good condition can be valuable. You can get good deals on pieces that need work, but keep Read More

October 22nd, 2021

Buying Land to Build a Luxury Home

A primary or second home by the ocean, lake, mountains, or desert could be heavenly, but hard to obtain in today’s warp-speed real estate climate. So why not build the home of your dreams on your own land? You may already have a favorite vacation spot or a location in mind. Your Berkshire Hathaway HomeServices network professional can help you acquire the lot or acreage you want or refer you to a qualified rural specialist. This is important because experts know what you can and can’t do on your land. They research easements, deed restrictions, zoning laws, pre-construction permits, floodplains Read More

October 15th, 2021