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Values and Prices

Values and Prices

By Michael Williams                                                                                                                                                            4/1/21

The prices of Central NY houses have been rising for many reasons, but the primary reason is more buyers than sellers are currently present.  This creates more competition for the few houses that are for sale.  We have several buyers who are looking but can find nothing with their desired characteristics and within their budgets.

There is another way to find a home, but doing so takes some effort to find the “value” in a property.  Lake and Village Realty has two homes listed for sale that have “value” not reflected in their prices.  The first home, at 3993 Highland Ave, Skaneateles, is a home with great potential that has been well loved and cared-for for several decades. Though not large, it has a sound structure and offers lots of possibilities.  The upstairs interior easily could be modified and updated.  The lower-level walk-out basement could become a finished bedroom/bathroom suite with a western-facing walk-out area into a huge back yard.  Highland Avenue is in a pleasant, spacious neighborhood connected to the village and easily walkable to downtown.  Nothing else on the market in the local area combines such closeness to the village with such a low price.  This property could receive tens of thousands of dollars in upgrades and still be a good value.  

The second property we have listed is at 3 Elson Lane in Skaneateles on nearly an acre within the village and all that it has to offer.  The seclusion of a tree-surrounded private lane is combined with easy village living and village amenities including water, sewer, and the village electric cooperative.  This home is a classic mid-century modern (pictured above) suitable for an entire makeover.  It has housed just one owner since it was built in the early 1960s.  The structure is sound, and the architecture, though rare for the village, fits its surroundings very well.  Much of this property’s price is in the value of the land because so much land in the village cannot be found at any price.  For those who can see the potential of a lake view on nearly an acre of land, the value is evident.

For either home, please call us for more details.  We’d love to show you the value in these homes.

 

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