Renters – there are pluses and minuses involved in the housing market as of December 22, 2020. Good news: more renters are able to afford buying! It went from 33% to 38% as of the 3rd Quarter of 2020. Bad news: down payments can be tricky for some renters , but don’t let that deter you!
“According to NAR’s 2020 Profile of Home Buyers and Sellers, first-time buyers typically financed 93% of their home, or put down 7% for down payment. NAR’s monthly Realtors® Confidence Index survey places the average down payment among first-time buyers at around 9% to 10%. While a 3% FHA loan is available, first-time buyers are putting down a higher down payment, presumably to save on the monthly mortgage payment.”
The Kate Seaman Team knows how to get you through each hurdle. We analyze the market trends and use data to assist you throughout any buying process. We have contacts with top professionals in the area to assist with mortgage needs and give you the best advice for financing.
Kate is an experienced realtor who was very attentive to our search for a property on Cayuga Lake. We looked at a dozen or more year-round houses, as well as seasonal cottages. Starting out, we were not sure of what we wanted and Kates knowledge of lake properties gave us a good understanding of what was available, as well as the values. As a result, we found the perfect spot for us. She was also thorough following the purchase offer – making sure that the closing went smoothly. We would not hesitate to call on Kate again for any future real estate purchases -2017 Buyer
The Ithaca area is known for breathtaking scenery, well-respected universities, and as a gateway to the broader Finger Lakes area. Located at the base of Cayuga Lake, the second largest and deepest of the 11 Finger Lakes, Ithaca has a robust real estate market that includes a niche market of lakefront properties. Both second-home buyers, vacation rental investors and those looking for a year-round home are drawn to the lake life.
Throughout my life I have spent countless summers on the west shore of Cayuga Lake and have sold lakefront property my entire 20 years of being a real estate agent. As a lake expert, I am available to help you navigate this specialty market to understand the unique challenges it can pose.
We are home to a vast array of property types up and down the lake. You’ll find rustic cabins all the way to multi-million dollar homes with the average lakefront sale hovering around $430,000. A few of the factors that influence the value of lakefront property include:
- Shoreline type and maintenance – is it a shale beach or grass? Is there a seawall?
- Accessibility of the home and beach areas – are there many stairs? Is the driveway steep?
- Lake rights – what types of rights convey? Is the lake front shared, public or private?
It is questions like these, among many others, that buyers and sellers will be faced with during the real estate process. My expertise and service-orientated approach routinely places me among the top agents in both traditional and lakefront sales. Last year was exceptionally successful – as I was the top producing agent in lake front sales out of our entire Ithaca Board of Realtors. The info-graphic below showcases how proficiency in this area yields the best results.
The lakefront market is just about to heat up. If buying or selling is in your future, give me a call to review your options.
Kate Seaman, Associate Broker
Warren Real Estate
830 Hanshaw Road
Ithaca, NY 14850