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        <title>Chautauqua Lake Life Living</title>
        <link>http://www.richardlakefront.com/blog/real-estate-news/</link>
        <description>Richard's Chautauqua Lake Live Living. This blog will provide updated post pertaining to Chautauqua Lake Region and surrounding areas. Including Chautauqua Institution, Lake Erie and Findley Lake NY. 
Please post any comments you may have.

Richar</description>
        <item>
            <guid>http://www.richardlakefront.com/blog/chautauqua-lake-real-estate-market-update-first-quarter-of-2011.html</guid>
            <link>http://www.richardlakefront.com/blog/chautauqua-lake-real-estate-market-update-first-quarter-of-2011.html</link>
            <author>Richard0039@yahoo.com (Richard Benedetto)</author>
            <title>Chautauqua Lake Real Estate Market update. First quarter of 2011</title>
            <description> <![CDATA[ 



Chautauqua Lake Real Estate Market update.   Data is only considering single family Lake Front homes based on Chautauqua County multiple listing systems (MLS).   


Comparing the first quarter of 2010 ending March 31st to the first quarter of 2011 Chautauqua Lake Front home sales have soared.


January 1st to March 31st 2010, based on the Chautauqua County MLS systems recorded 9 closed transactions.


In 2011 from January 1st to March 31st the Chautauqua County MLS system recorded 16 transactions. This accounts for a 56 percent JUMP in closed listings for the first quarter of the year in 2011 compared to the first quarter of 2010.  


Compared below is the average closed price, (days on market) DOM. 


  


 


 


 


2010


  
















AVERAGES:






Adjusted Price






List Price






Closing Price






Bedrooms






Full Baths






Acres






Est Sq Ft






DOM 








$398,556






$398,556






$336,500






3.0






2.0






0.58






1,927






223




















COMBINEDAVERAGES:






Adjusted Price






List Price






Closing Price






Bedrooms






Full Baths






Acres






Est Sq Ft






DOM 








$398,556






$398,556






$336,500






3.0






2.0






0.6






1,927






223
















 


2011


 
















AVERAGES:






Adjusted Price






List Price






Closing Price






Bedrooms






Full Baths






Acres






Est Sq Ft






DOM 








$347,769






$347,769






$301,423






3.0






2.0






0.00






2,010






155




















COMBINEDAVERAGES:






Adjusted Price






List Price






Closing Price






Bedrooms






Full Baths






Acres






Est Sq Ft






DOM 








$347,769






$347,769






$301,423






3.0






2.0






0.0






2,010






155
















 Please note Days on market (DOM) has shortened by 31 percent from 2010.


Buyers are feeling much more confident in the market and are looking to get on board prior to prices going up.


As a lifelong resident of Chautauqua County I consider the increase in activity as a real testament to what I have always thought.


Chautauqua County is a great please to live, play, and makes a great investment!


Should you have any questions or would like to view any homes in the Chautauqua Lake Region please feel free to call Richard Benedetto Broker/Owner anytime.  Cell 716-665-9403
 ]]> </description>
            <pubDate>Sun, 17 Apr 2011 16:45:01 -0500</pubDate>
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            <guid>http://www.richardlakefront.com/blog/chautauqua-lake-real-estate-is-off-to-a-great-start-in-2011.html</guid>
            <link>http://www.richardlakefront.com/blog/chautauqua-lake-real-estate-is-off-to-a-great-start-in-2011.html</link>
            <author>Richard0039@yahoo.com (Richard Benedetto)</author>
            <title>Chautauqua Lake Real Estate is off to a great start in 2011!</title>
            <description> <![CDATA[ 


Chautauqua Lake Real Estate is off to a great start despite the lagging prices in other areas.  &nbsp; Data is only considering single family Lake Front homes based on Chautauqua County multiple listing systems (MLS).  &nbsp;

Comparing the first 50 days of 2010 to the first 50 days of 2011 Chautauqua Lake Front home sales have soared.

&nbsp;

&nbsp;January 1st to February 19th 2010, based on the Chautauqua County MLS systems had recorded 4 closed transactions.

&nbsp;

In 2011 from January 1st to February 19th the Chautauqua County MLS system recorded 15 transactions. This accounts for a 250 percent JUMP in closed listings for the first 50 days of the year.&nbsp; 

&nbsp;

Compared below is the average closed price. 

&nbsp;

2010



  
    
      


          
            
              
AVERAGES:

              
Adjusted Price

              
List Price

              
Closing Price

              
Bedrooms

              
Full Baths

              
Half Baths

              
Est Sq Ft

              
DOM 

            
            
              
$566,250

              
$566,250

              
$444,750

              
4.0

              
2.0

              
1.0

              
2,425

              
243

            
          
      


    
    
      
&nbsp;

    
  


&nbsp;

2011



  
    
      
AVERAGES:

      
Adjusted Price

      
List Price

      
Closing Price

      
Bedrooms

      
Full Baths

      
Half Baths

      
Est Sq Ft

      
DOM 

    
    
      
$448,000

      
$448,000

      
$410,250

      
4.0

      
2.0

      
1.0

      
2,313

      
141

    
  


&nbsp;

Please note Days on market (DOM) has shortened by 42 percent from 2010.

&nbsp;

Buyers are feeling much more confident in the market and are looking to get on board prior to prices going up.

&nbsp;

As a lifelong resident of Chautauqua County I consider the increase in activity&nbsp;as a real testament to what I have always thought.


Chautauqua County is a great please to live,&nbsp;play, and&nbsp;makes a great investment!

&nbsp;

Should you have any questions or would like to view any homes in the Chautauqua Lake Region please feel free to call Richard Benedetto Broker/Owner anytime.&nbsp; Cell 716-665-9403

&nbsp; &nbsp;  ]]> </description>
            <pubDate>Mon, 21 Feb 2011 14:25:23 -0600</pubDate>
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            <guid>http://www.richardlakefront.com/blog/free-home-make-over.html</guid>
            <link>http://www.richardlakefront.com/blog/free-home-make-over.html</link>
            <author>Richard0039@yahoo.com (Richard Benedetto)</author>
            <title>Free Home Make Over</title>
            <description> <![CDATA[ HGTV Looking for Makeover Candidates Anyone who would like to have HGTV roll up in an 18-wheeler and do an instant home makeover should get ready to apply.Beginning Saturday, Jan. 1, visitors can go to HGTV.com and upload photos of their homes in need of transformation. Winners will receive a high-end home makeover and the chance to appear on HGTV.HGTV personalities participating in the makeovers include David Bromstad (Color Splash), John Gidding (Curb Appeal: The Block), Genevieve Gorder (Dear Genevieve), Sabrina Soto (Get It Sold and Real Estate Intervention), and Vern Yip (HGTV Design Star). Each week, one designer will pull up to the home selected for a makeover in a specially outfitted HGTV truck.The series will air during the summer of 2011.Source: HGTV (12/29/2010)

 ]]> </description>
            <pubDate>Wed, 29 Dec 2010 14:35:53 -0600</pubDate>
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            <guid>http://www.richardlakefront.com/blog/chautauqua-ny-lake-properties-offer-ray-of-sunshine-in-the-mist-of-a-bleak-real-estate-market1.html</guid>
            <link>http://www.richardlakefront.com/blog/chautauqua-ny-lake-properties-offer-ray-of-sunshine-in-the-mist-of-a-bleak-real-estate-market1.html</link>
            <author>Richard0039@yahoo.com (Richard Benedetto)</author>
            <title>Chautauqua NY Lake Properties offer Ray of Sunshine in the Mist of a Bleak Real Estate Market</title>
            <description> <![CDATA[ 
&nbsp;





Based on the Chautauqua County, New York MLS(Multiple Listing Service) data, the number of Chautauqua Lake property Sales for 2010 year to date have increased 18 percent over that of the same time period for 2009.

&nbsp;

Interesting facts for Lake Front properties

Data based on Sales from January 1, 2010 - October 28, 2010

Average sale price $268,800.00

Average square footage 1,861

Average days on market 128

Looking at the largest segment, Lake Front Properties priced between $200,000 and $400,000


January 1st to October 28th 2009, the average sale price was $298,000

January 1st to October 28th 2010, the average sale price was $276,500


In comparison, there has been a 7% decrease in sales price but an increase in the number of unit sales for 2010. If the trend continues we should expect to see in increase in sales through 2011 and see property appreciation come back into the mix.

In my opinion buyers can still find great value in Chautauqua Lake Real Estate and can enjoy their investment. Chautauqua Lake properties have great value compared to the Finger Lakes in western New York and all of the lake areas in Pennsylvania, Ohio and Canada.

Chautauqua Lake is complemented by the world renowned Chautauqua Institution, which attracts buyers for from around the globe. The majority of Chautauqua Lake Real Estate buyers for vacation homes; come from Cleveland, Pittsburg, Buffalo and Toronto.



The following website depicts all of the great attractions Chautauqua region has to offer. tourchautauqua.com

Should you have any questions or would like to view properties for sale or rent please feel free to call me anytime or visit me at richardlakefront.com

Cell 716-665-9403

Sincerely

Richard Benedetto Broker/Owner Real Estate Advantage &amp; Chautauqua Lake Real Estate
 ]]> </description>
            <pubDate>Tue, 02 Nov 2010 13:25:21 -0500</pubDate>
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            <guid>http://www.richardlakefront.com/blog/mortgage-rates-at-new-lows-thanks-to-europes-debt-crisis.html</guid>
            <link>http://www.richardlakefront.com/blog/mortgage-rates-at-new-lows-thanks-to-europes-debt-crisis.html</link>
            <author>Richard0039@yahoo.com (Richard Benedetto)</author>
            <title>Mortgage Rates at New Lows, Thanks to Europe's Debt Crisis</title>
            <description> <![CDATA[ 
&nbsp; 
On Monday May 24, 2010, 12:44 pm EDT 

Here's some good news for the struggling US housing market: Thanks to the European debt crisis, mortgage rates are at historic lows.

&nbsp;

The current average rate for a 30 year fixed loan is 4.87 percent, according to Bankrate.com. That's the lowest rate for the 30 years since Bankrate started keeping track 25 years ago.

Even jumbo loan rates-loans for more than $417,000-have fallen. The 30-year fixed jumbo loan is at an average rate of 4.5 percent, down from nearly 6 percent at this time last year.

&quot;It's the best time in our generation to buy,&quot; says Mark Zandi, chief economist at Moody's. &quot;It may be the best time in any generation. Mortgage rates are so low and with homes prices down and lots of inventory, you couldn't pick a better time to buy or re-finance.&quot;

Europe's debt crisis is behind the drop. Nervous investors are flocking to the security of US Treasurys, which pushes down their yield and influences a host of consumer interest rates-including those on mortgages. 

The decline is also good news for homeowners looking to refinance, particularly those who owe more on their mortgage than their house is worth. 

&quot;There's a tremendous window on re-financing,&quot; says Greg McBride, chief economist at Bankrate.com. &quot;That's particularly true for people who can take advantage of the government's Home Affordability Refinance Program (HARP)-which allows home owners to refinance into low mortgage interest rates even if they're property value has gone down.&quot;

HARP, which was due to end at the end of this June, now runs through June of 2011.

&nbsp;

&quot;Think of the benefits if you buy or refinance now,&quot; says McBride. &quot;Locking in now at the lower rates means more more bang for the buck and more breathing room for homeowners when it comes to payments.&quot;

But the decline in rates probably won't last long, analysts say. So homeowners need to move fast. 

&quot;I think they won't last much longer than a month or two at the best,&quot; says Lawrence Yun, chief economist at the National Association of Realtors. &quot;I can see them going up to 5.5 percent by the end of June if not sooner.&quot; 

The reasons? Yun says the worries over Europe will be fading soon and investors will be looking at other assets besides US Treasurys. And there's the US deficit, which will push up Treasury yields.




On Monday May 24, 2010, 12:44 pm EDT 

Here's some good news for the struggling US housing market: Thanks to the European debt crisis, mortgage rates are at historic lows.

&nbsp;

The current average rate for a 30 year fixed loan is 4.87 percent, according to Bankrate.com. That's the lowest rate for the 30 years since Bankrate started keeping track 25 years ago.

Even jumbo loan rates-loans for more than $417,000-have fallen. The 30-year fixed jumbo loan is at an average rate of 4.5 percent, down from nearly 6 percent at this time last year.

&quot;It's the best time in our generation to buy,&quot; says Mark Zandi, chief economist at Moody's. &quot;It may be the best time in any generation. Mortgage rates are so low and with homes prices down and lots of inventory, you couldn't pick a better time to buy or re-finance.&quot;

Europe's debt crisis is behind the drop. Nervous investors are flocking to the security of US Treasurys, which pushes down their yield and influences a host of consumer interest rates-including those on mortgages. 

The decline is also good news for homeowners looking to refinance, particularly those who owe more on their mortgage than their house is worth. 

&quot;There's a tremendous window on re-financing,&quot; says Greg McBride, chief economist at Bankrate.com. &quot;That's particularly true for people who can take advantage of the government's Home Affordability Refinance Program (HARP)-which allows home owners to refinance into low mortgage interest rates even if they're property value has gone down.&quot;

HARP, which was due to end at the end of this June, now runs through June of 2011.

&nbsp;

&quot;Think of the benefits if you buy or refinance now,&quot; says McBride. &quot;Locking in now at the lower rates means more more bang for the buck and more breathing room for homeowners when it comes to payments.&quot;

But the decline in rates probably won't last long, analysts say. So homeowners need to move fast. 

&quot;I think they won't last much longer than a month or two at the best,&quot; says Lawrence Yun, chief economist at the National Association of Realtors. &quot;I can see them going up to 5.5 percent by the end of June if not sooner.&quot; 

The reasons? Yun says the worries over Europe will be fading soon and investors will be looking at other assets besides US Treasurys. And there's the US deficit, which will push up Treasury yields.
 ]]> </description>
            <pubDate>Tue, 25 May 2010 11:13:20 -0500</pubDate>
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            <guid>http://www.richardlakefront.com/blog/out-of-town-buyer-still-find-value-in-chautauqua-lake-real-estate.html</guid>
            <link>http://www.richardlakefront.com/blog/out-of-town-buyer-still-find-value-in-chautauqua-lake-real-estate.html</link>
            <author>Richard0039@yahoo.com (Richard Benedetto)</author>
            <title>Out of Town buyer still find value in Chautauqua Lake Real Estate</title>
            <description> <![CDATA[ 
While property values plummet in other areas our&nbsp;jewels&nbsp;of the County; Chautauqua Lake and Chautauqua Institution have held their value.

Sales on Chautauqua lake have picked up considerably in the second half of 2009. Out of town buyers are finding their investment in Chautauqua properties have appreciated well in normal times and are maintaining their&nbsp;value during&nbsp;the recession.



I&nbsp;recently participated in the sale of&nbsp;the Packard Manor located at 10 Elm Lane, Chautauqua Institution. An&nbsp;historic property located on the shores of Chautauqua Lake. The home was built by William D. and Katherine B Packard&nbsp; (of the&nbsp;Pakard Automobile&nbsp;Family) in 1915.





&nbsp;


 ]]> </description>
            <pubDate>Tue, 09 Mar 2010 15:32:02 -0600</pubDate>
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            <guid>http://www.richardlakefront.com/blog/january-2010-new-york-state-home-sales-up-11-percent-from-year-ago.html</guid>
            <link>http://www.richardlakefront.com/blog/january-2010-new-york-state-home-sales-up-11-percent-from-year-ago.html</link>
            <author>Richard0039@yahoo.com (Richard Benedetto)</author>
            <title>January 2010 New York State Home Sales up 11 Percent From Year Ago</title>
            <description> <![CDATA[ 
&nbsp;ALBANY, NY--(Marketwire - February 26, 2010) - &nbsp;The New York state housing market posted an improved start to 2010 compared to the beginning of last year with sales increasing by 11 percent compared to January 2009, according to preliminary single-family sales data accumulated by the New York State Association of REALTORS. The statewide median sales price jumped more than 30 percent compared to January 2009. 

&quot;We are encouraged by the improved start to the 2010 housing market,&quot; said Duncan R. MacKenzie, NYSAR chief executive officer. &quot;Despite the fall off from a very strong December market, the 11-percent increase in sales from last January and the median price gain are good signs for the continued recovery of our housing market into 2010.&quot;

MacKenzie noted that the flurry of buyer activity in October and November as the previous federal tax credit deadline approached likely drove the market higher in December. &quot;Once the deadline pressure was released by the extension and expansion of federal homebuyer tax credit, many of those buyers became homeowners in December and January,&quot; MacKenzie said, adding that buyers are expected to again flood the market in March and April as the new deadline approaches.

&quot;The combination of the federal homebuyer tax credit, the SONYMA Tax Credit Advance Loan program and historically low mortgage interest rates make the beginning of 2010 a great time to buy a home in the Empire State,&quot; said MacKenzie. &quot;Consumers began to recognize this as 2009 progressed and undoubtedly many will become new homeowners between now and the April 30 tax credit deadline.&quot; MacKenzie noted that buyers must be under contract by April 30 and close before June 30 to be eligible for the federal tax credit.

New York REALTORS sold 4,468 existing single-family homes in New York State in January 2010, an 11-percent increase compared to the January 2009 sales total of 4,024. January sales did lag behind the stronger than usual December 2009 market, when 7,403 homes were sold.

The January 2010 median sales price in New York State of $242,750 represents an increase of 30.5 percent compared to the January 2009 median of $186,085, and is 13-percent above the revised December 2009 median of $213,800.

Complete data is available at http://www.nysar.com/content/Press.htm

The New York State Association of REALTORS is a not-for-profit trade organization representing more than 54,000 of New York state's real estate professionals. The term REALTOR is a registered trademark, which identifies real estate professionals who subscribe to a strict code of ethics as members of the National Association of REALTORS. These REALTORS are also members of the New York State Association of REALTORS as well as their local board or association of REALTORS.
 ]]> </description>
            <pubDate>Sun, 07 Mar 2010 11:06:00 -0600</pubDate>
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            <guid>http://www.richardlakefront.com/blog/chautauqua-real-estate-holds-its-value.html</guid>
            <link>http://www.richardlakefront.com/blog/chautauqua-real-estate-holds-its-value.html</link>
            <author>Richard0039@yahoo.com (Richard Benedetto)</author>
            <title>Chautauqua Real Estate holds it's value.</title>
            <description> <![CDATA[ 
A historic home in Chautauqua County is no longer on the market, thanks to a $3 million deal.

Richard Benedetto, broker and co-owner of Real Estate Advantage, reported that his firm will be closing out this year with the recent sale of the Packard Manor Estate at 10 Elm Lane. The property located on the shores of Chautauqua Lake sold for a reported $3 million.

&quot;While property values have plummeted in other areas across the country, the jewels of Chautauqua Lake and Chautauqua Institution have held their value,&quot; said Benedetto, who participated in the sale of the manor. &quot;Like all market segments, the luxury housing market is experiencing unique challenges. Although the residential real estate market in the Southern Tier has not been immune to the downward sluggish trend in home sales and declining prices; out-of-town buyers are still discovering that their investment in Chautauqua property has appreciated well in normal times and are maintaining value during the recession times.&quot;

The luxury Packard Manor was built in 1915 by William D. and Katharine B. Packard.

For more information see Wednesday's Post-Journal
 ]]> </description>
            <pubDate>Sat, 30 Jan 2010 08:52:27 -0600</pubDate>
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