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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.

Plan Your 2023 FISU World University Games Visit

FISU Lake Placid 2023

Lake Placid is ramping up with excitement as preparations continue for the FISU World University Games.  Throughout our winter sports loving town, visitors and locals alike are anxiously anticipating this world class event.  In a competition similar to the Olympics, the World University Games will host top collegiate winter sports athletes from around the globe for a 10-day event. The World University Games are scheduled to begin January 12th and end on January 22nd, with a few early start events including Men’s & Women’s Hockey beginning on the afternoon of January 11th. If you are interested in experiencing the magic Read More

December 27th, 2022

Is The Homebuying Competition Easing In The Lake Placid Region?

Man Writing On Notebook With Laptop Behind

A common question our Lake Placid real estate office staff and agents receive recently comes from home buyers and sellers asking: “Is the homebuying competition easing?” The short answer for this question is yes, the level of urgency and competition in Adirondack region home transactions are easing. If homes are priced correctly and in a desired neighborhood there is still some competition, but it is not at the level that was seen during the pandemic. During the pandemic, the low housing supply especially with lakefront homes, combined with reduced interest rates for home mortgages provided a storm of offers for Read More

December 20th, 2022

Why Zillow Zestimates Aren’t Always Accurate

Zillow Logo

Zillow has become a platform many buyers and sellers have visited during their search for property information. While this online information center offers great starting and market comparison data, accuracy is often questioned by real estate professionals. This is primarily because Zillow does not always have the correct, complete, or recent information on many listings. Our office has noticed that estimated property taxes listed, general property and home information and their Zestimates can be wrong, often either due to inaccuracies or updates that have made to laws or the property since last sold . We always suggest that potential buyers Read More

December 13th, 2022

December 2022 Newest Listings

RESIDENTIAL TUPPER LAKE RANCH ON BAKER AVE 3 BED  |  1 BATH  |  $179,000 A well maintained home on a lovely double lot with a private fenced in backyard space for privacy.     ADORABLE SARANAC LAKE RANCH ON ARNOLD DRIVE 3 BED  |  2 BATH  |  $249,000 This adorable three bedroom two bath house centrally located in Saranac Lake is a fantastic starter home with unlimited potential. View more on this property.     FARMHOUSE IN GARBRIELS ON 3 ACRES 5 BED  |  1 BATH  |  $249,995 Views, views, views, the most magnificent views in the Adirondacks!! This home Read More

December 6th, 2022

Interlaken Inn & Restaurant To Re-Open This Month Under New Ownership

Interlaken Inn & Restaurant - Fall - Exterior Front Right

Adirondack Premier Properties is excited to announce that the Interlaken Inn & Restaurant plans to re-open the first or second week of December 2022 under new ownership. A favorite establishment of the Lake Placid community for many years, the Interlaken’s local fan club includes many agents from our office.  We were thrilled to list and help facilitate successful sale of this property to enthusiastic new owners.  With a new era beginning at Interlaken Inn Lake Placid, we wanted to take this opportunity to introduce Interlaken’s new owners and share essentials about the re-opening, including how to book rooms and what Read More

December 2nd, 2022

November 2022 Notable Sales

INTERLAKEN INN & RESTAURANT 10 BED  |  10 BATH  |  11,303 SQ. FT.  |   $2,975,000 A Historic Adirondack classic home in the prestigious Signal Hill Lake Placid area also known as “The Interlaken Inn and Restaurant.” Well known as the premier location in the Village, this property is ideal for a buyer to continue and run the Bed and Breakfast and the very busy restaurant. View more on this property.   THE SILO HOUSE IN LAKE PLACID 4 BED  |  3 BATH  |  $1,150,000 An original historic Lake Placid home built in 1890 with so much character and the Read More

November 29th, 2022

What To Look For During An Open House

Agent With Clients

As colder weather moves into the Adirondacks, open house season is winding down after a busy and active summer. If you are looking to buy this fall, it’s not too late to get into properties that interest you.  During the holidays and larger event weekends, local agents are more likely to have open houses. As a buyer, open houses provide the perfect opportunity to tour and inspect potential homes before making an offer. Although the event can be busy with multiple buyers on site at the same time, here are some tips to help you think ahead and know what Read More

November 22nd, 2022

How To Prepare Your Home for Winter

Breakaway Lodge In Lake Placid - Aerial exterior front

  Morning frost covers the windshield, the leaves have browned and fallen, and it’s hard to get out of your cozy bed in the morning – all signs that winter is coming.  Before the snow flies and winter weather really settles in, these late fall days are the perfect time to prepare your home for the cold season. By the time the forecast shows below freezing overnight temps, you should already be thinking ahead towards your home’s winter needs and taking steps to get your house winterized.  Key areas to consider include cleaning, pest control, insulating and sealing, heating system Read More

November 16th, 2022

How to Winterize A Cabin – Closing Up in the Adirondacks

Snowy Cabin

Somehow it always seems that winter is right around the corner in the Adirondacks! We’ve been spoiled this year with some extended warm weather, and this offers the perfect opportunity to learn best practices for how to winterize a cabin on your property.  If you are planning fall tasks including winterizing a cabin, here are some helpful tips to get organized and start checking off must do’s to close up your Adirondack camp like a pro. Indoor Maintenance When closing your camp down, doing your indoor maintenance with careful attention to detail is an absolute must. Poorly executed or overlooked Read More

November 11th, 2022

November 2022 Newest Properties

Lodge On Overlook In Lake Placid - Screened Porch Fireplace

RESIDENTIAL LODGE ON OVERLOOK IN LAKE PLACID 4 BED  |  3 BATH  |  $2,750,000 The only home currently for sale at the Whiteface Club being offered turn-key with custom artisan furnishings. View more on this property.   LAKE PLACID RAISED RANCH ON NASH 3 BED  |  2 BATH  |  $275,000 This property has unlimited potential! Ideal for a single family home or 2 one bedroom apartments. There are kitchens on the first and second floor and would be a fantastic investment property with long term rentals or simply a single family home.   SARANAC LAKE COTTAGE ON PINE STREET 2 Read More

November 2nd, 2022

Are Real Estate Agents Going Extinct?

Realtor - Agents Last

While some people say real estate agents are going extinct due to new technology developments in our field, it is not true. The process of showing real estate has become easier and more transparent. The days of physically showing properties have slowed down slightly, especially during pandemic. As stated above, developments in 360 photography and recorded video tours have given agents opportunities to reach more buyers and sellers, however their commentary and analysis of neighborhood’s schools, for example, is something that cannot be delivered with a per-recorded tour. Along with the recorded video tours and 360 tours, agents can also Read More

October 25th, 2022

How Do You Prepare To Be A Real Estate Agent?

Skills Graphic

If you are looking to become a better real estate agent, learning from mentors who are in the field is an excellent way to grow your progress. Conversations with agents who are currently in the field will give you great insight and other perspectives into some of the current positive and negatives of being a real estate agent. Understanding these can help you grow in areas that may be common pain points for agents to improve upon. Growing a specific set of personal traits is another great way to become a better real estate agent. Personal skills to grow as Read More

October 18th, 2022

October 2022 Newest Listings

RESIDENTIAL COYOTE CREEK IN LAKE PLACID 7 BED  |  5 BATH  |  $2,750,000 Introducing Coyote Creek a private property on the distinguished Adirondack Loj Road in Lake Placid for that special buyer desiring their own sanctuary and secure retreat ideal for the outdoor enthusiast. View more on this property.     CAPE COD STYLE HOME ON FLETCHER FARM ROAD 3 BED  |  1 BATH  |  $495,000 This lovely home is a must see! The property is absolutely beautiful with amazing views and is immaculately maintained with a paved driveway, stone walkway, beautiful gardens, spacious backyard, gardeners shed and oversized 2 Read More

October 12th, 2022

What Is The Future Of The Real Estate Industry?

Future Real Estate Computers

What is the future of agents in the real estate industry? Having sold real estate for the past 25+ years, I (Margie Philo) believe the future of the real estate industry holds continued growth, even if the markets fluctuate between buyer and seller markets. Buying and selling real estate is a necessity for private parties and business owners, so there will be continuous innovation and growth in the professional industry supporting these transactions. An example of recent evolution of the industry could be seen as the continued Covid pandemic continued through the past few years. Agencies and their agents were Read More

October 11th, 2022

How Do You Tell Your Real Estate Agent You Are No Longer Interested?

How Do I Get Rid Of My Real Estate Agent

Sometimes home buyers or sellers have to make the uncomfortable decision to fire their realtor or real estate agent. The best way to tell your realtor you are no longer interested in working with them is to talk to them directly. Buyers or sellers may have a slightly different process on ending the relationship in the most respectful way possible. As a buyer, speaking directly to your real estate agent about wanting to change is the easiest way to end the business relationship. You can choose to disclose if you are going to work with another agency or agent, or Read More

October 4th, 2022

What Does Vet Mean In Real Estate?

Vet Real Estate Agent

In real estate, to “vet” means to ask questions that pertain to the agent, agency, or brokerage you will be working with, like in most business senses. In real estate, buyers or sellers should always be vetting their potential representatives. Asking the right questions leads to stronger service and potential increased profit on your property. The questions a buyer or seller should focus on are past and recent real estate sales, the agencies connections, marketing strategies, and their knowledge of the current market. Vetting Based On Past and Recent Real Estate Sales Asking questions on past and recent sales will Read More

September 27th, 2022

September 2022 Newest Properties

Adirondack Log Home In Lake Placid - Exterior

RESIDENTIAL ADIRONDACK LOG HOME IN LAKE PLACID 3 BED  |  3 BATH  |  $1,095,000 A custom log home on a lushly landscaped acre affording total privacy. Three bedrooms and three full baths complete with attached and detached garages, lean-to, deck, covered porch and front and rear patios.     ADORABLE ADIRONDACK HOME IN UPPER JAY 3 BED  |  1 BATH  |  $375,000 Adorable 3 bedroom, 1 1/2 bath Adirondack home with exceptional proximity to hiking and climbing in High Peaks and skiing. Just a 10 minute drive from Keene and 10 minutes to the 1980 Olympic downhill skiing venue Whiteface Read More

September 1st, 2022

Which Remodeling Projects Bring the Most Joy?

Which Remodeling Projects Bring The Most Joy?

In 2020, Americans spent $420 billion remodeling their homes, according to a new report by The National Association of REALTORS (NAR) and The National Association of the Remodeling Industry (NARI.) They remodeled to upgrade outdated worn-out surfaces, finishes and materials (30%), add features and improve livability (20%), and just enjoy a change (16%.)   While most consumers (83% of those surveyed) said they would have remodeled regardless of the pandemic, most found that they were happy with the results (57%), satisfied (39%), and felt a sense of accomplishment (69%). Homeowners reported that the best results from remodeling were better functionality and Read More

August 16th, 2022

Retro: Not Just Mid-century Anymore

Retro: Not Just Mid Century Anymore

According to EyeonHousing.com, half of owner-occupied homes were built before 1980. That could be just one of many reasons why many homebuyers and homeowners are going more “retro” in their decorating styles. Retro pieces of furniture, art, and accessories, whether antique, reproduction or derivative, can bring unique personality to any home. TheSpruce.com explains that home décor has always mixed the old with the new. Retro is widely thought to mean Mid-century design, but it can also include nods from other eras, including Art Deco and Modernism from the 1920s to the 1940s. Both post-war, these modernistic motifs reflect large lifestyle Read More

August 9th, 2022

Success Strategies for 2022 Homebuyers

Success Strategies For 2022 Homebuyers

If you’re a homebuyer without a home to buy, the ongoing housing shortage is making housing to buy less affordable by the day. Certain factors should change with time, which should provide you with a better chance to buy a home in mid-to-late 2022. One factor that helped fuel the current housing market boom was record low interest rates. According to the latest weekly Mortgage Bankers Association survey, the average contract interest rate for a 30-year fixed-rate mortgage (FRM) under $647,200 was 5.20% with 0.63 points. That’s a quick rise from the record low recorded by Freddie Mac in December Read More

August 2nd, 2022

August 2022 Newest Properties

Casa Del Paradiso - Tree House Deck Mountain

RESIDENTIAL CASA DEL PARADISO IN LAKE PLACID 9 BED  |  8 BATH  |  $31,150,000 A private majestic estate rarely offered anywhere in the world with security and gated entrance, your own paradise! The 5 primary buildings include an underground tunnel from the main residence to one of the guest homes, a tree house sitting residence, 2 additional 2 bedroom guest homes, and an air stream “she shed”. CLICK HERE to view more.   CHARMING COTTAGE IN KEENE 3 BED  |  2 BATH  |  $595,000 Charming cottage located on 8 acres with mountain views. This home features an open floor plan Read More

August 1st, 2022

Hit the Deck with Easy Upgrades

Deck Easy Upgrades

It’s time for fun in the sun, and not too late to make some improvements to your deck. Before you have family and friends over for summer barbeques, take a weekend to make your deck more attractive, comfortable and better integrated with your backyard. You want your deck and yard to look like they flow together. One way to do that is to plan around what you’d like to view, such as side gardens with flowers. The deck steps can lead down to the landing area or pavers in the grass that allows you and your guests to walk around Read More

July 28th, 2022

How long do most real estate agents last?

How Long Do Most Real Estate Agents Last

  There are two answers to this question that vary differently. As Client If you are a client of a real estate agent, it could be one deal or it could be a lifetime of business. At Berkshire Hathaway HomeServices our motto is Forever Agent. This motto is a great standard for our agents to make real connections with clients. Trust is a major factor when buying or selling a home so having trust in the agent to protect you in your deal produces better results. Our agents strive to be there for all of our clients needs at every Read More

July 26th, 2022

What Are Good Real Estate Skills? Becoming An Experienced Agent

Skills Graphic

If you are thinking of getting started as a real estate agent, some basic skills you should grow include being personable, having a good communication skills, being organized, understanding time management techniques and being reliable. Being A Personable Real Estate Agent As the old saying goes you catch more flies with honey than vinegar. Being personable will give you a head start in real estate. It is a lot easier to work with someone who is positive and happy than someone who is negative and unhappy. This soft skill set will help build relationships through the real estate community. There Read More

July 21st, 2022

How Can Real Estate Agents Improve?

How Can Real Estate Agents Improve

Real estate agents should continue to get better in every aspect of the business. Just like any business there is always room to grow and learn. Throughout their real estate career as an agent, they should occasionally step back and evaluate their process to see what improvements they could/should make. An example of improvements could be their personal skills. Communication, organization and reliability are some of the greatest assets a real agent can have. Communication For Real Estate Agents Just like every profession the better the communication the better the results. In real estate having consistent, clear communication during the Read More

July 19th, 2022

How Much Does It Cost To Build An Adirondack Cabin?

Cost To Build Adirondack Cabin

The cost of building a cabin in woods or on a lake with waterfront amenities in the Adirondacks Cabin comes down to two variables: the homeowner and the builder. There are many factors that come into play when determining the price, ranging from planned square footage to location and desired cabin features, to the builder(s) you will choose to work with. In some cases, it can be more expensive to build a cabin in the woods than a larger house in a planned or existing sub-development. We recommend also reviewing existing cabins and cottages currently for sale in the Adirondacks, Read More

July 14th, 2022

How To Plan A Cabin Trip To The Adirondacks?

How Do You Plan A Cabin Vacation

Booking your cabin trip is super easy now with companies like Air BnB and VRBO. Also, many real estate agencies rent cabins and homes throughout the Adirondack Mountains. The hardest part is deciding what location you would like to spend your vacation. To plan and prepare for your trip you should consider each of the following factors: CABIN LOCATION Choose what location or region you would like to visit in the Adirondacks. The Adirondack Park is a large area so determining what region will help. Our office covers the Lake Placid region (Lake Placid, Saranac Lake, Wilmington & Keene Valley). Read More

July 12th, 2022

Is Buying A Cabin In The Woods A Good Investment?

Cabin In The Woods A Good Investment

Buying a cabin in the woods can be a great investment as long as the homeowner takes care of the property. During the recent pandemic, people in cities were looking to escape to quiet cabins or rural towns where life is slower and less busy. This increase in interest drove the cabin and cottage market up, as inventory began to shrink. Owning a cabin in the woods provides an opportunity for a getaway from crowds and the noise pollution often found in metropolitan life. Buying a cabin can be a great investment, if you treat it as both a personal Read More

July 7th, 2022

July 2022 Newest Properties

Majestic Upper Saranac Lake Estate - Aerial Exterior Back Left

WATERFRONT MAGNIFICENT ADIRONDACK HOME 7 BED  |  4 BATH  |  $1,995,000 A classic Adirondack home with many original details located across from Mirror Lake and with the shared ownership of a Mirror Lake beach. This gated 6 bedroom home has an additional year round cottage and a nice private back yard.     ADIRONDACK SERENITY 1 BED  |  1 BATH  |  $439,900 A unique opportunity to have a secluded Adirondack estate on 74 acres of land with mountain views and a private pond. The home has a bonus loft for additional sleeping area, and an open floor plan design that Read More

July 6th, 2022

Is Renting A Cabin Profitable

Driftwood Cabin In Lake Placid - Exterior

  Renting a cabin is always an option especially if you live in or near a tourist destination and can be very profitable. If you choose to rent your cabin, the amount of money you can make depends on a few factors including location, features, amenities, and views. Cabin Location Location, location, location! When looking at renting cabins to travelers, you will want to find places that are close to an Adirondack town but still have a nice level of privacy. Many renters are looking for a short drive to town to enjoy everything the area has to offer. Features Read More

July 5th, 2022