Lack of Inventory Pushing Listing Prices Higher, Says CoreLogic’s Chief Economist

Great news sellers.

As indicated by CoreLogic’s Chief Economist, Dr. Frank Nothaft, home prices have appreciated by nearly 7% year-over-year from December 2016 to December 2017. (CoreLogic Home Price Index).

This marks the fifth month in a row with at least a 6.9% upsurge, says Nothaft, who provides insight to the substantial increase:

“The number of homes for sale has remained very low. Job growth lowered the unemployment rate to 4.1 percent by year’s end, the lowest level in 17 years. Rising income and consumer confidence has increased the number of prospective homebuyers. The net result of rising demand and limited for-sale inventory is a continued appreciation in home prices.”

This is a thrilling update for owners who have gained nearly $15,000 in equity, on average, for their homes over the last year (CoreLogic equity statistics). Owners on the fence whether or not to sell will be delighted to see that they will have loftier profit margins to support a down payment on their dream home.

On the flip side, as we near the busy spring season for Finger Lakes real estate, there is still confidence for buyers as mortgage rates remain low compared to recent periods. The study also predicts that home price appreciation will slow slightly, rising by 4.3% by this time next year.

So the bottom line: If you are looking to enter the housing market, as either a buyer or a seller, schedule a meeting with a local real estate agency like Finger Lakes Premier Properties who can explain exactly what’s going on in your neighborhood and discuss your options… today!

Finger Lakes Premier Properties (FLPP) has the largest selection of Finger Lakes vacation rentals and lakefront homes for sale in the region. Our properties are all waterfront homes and range from cozy cottages and cabins to luxury vacation homes for sale and rent.

In 2017, FLPP flattened the industry average of days listed on market by 80%. To make ensure all our client’s needs are consistently met in this fashion, FLPP has recently brought on a Marketing Real Estate Coordinator. The resource will help the real estate team capture new homes with aerial footage and apply 3D virtual technology, getting more people to tour homes and sell faster.

The resources are here, the market is your oyster. What are you waiting for?

 

What You Need to Know About Rental Property Maintenance

When you first begin researching the benefits of owning a rental property, the responsibilities that come with maintaining a home long-distance may seem overwhelming. From basic cleaning to bigger repair projects, there is so much to consider. Luckily, Finger Lakes Premier Properties makes rental property maintenance simple, efficient, and affordable! Find out how we can help you keep your Finger Lakes rental home looking gorgeous!

The Key to Rental Property Maintenance

The first step to owning a vacation rental is finding a rental property maintenance company that you can trust. This is a daunting task for any homeowner. It’s even more intimidating when you are located in a completely different city, state, or even coast from your second home. Using a large and reputable vacation rental management agency can relieve that stress. Finger Lakes Premier Properties has been in the business for 25 years, providing fantastic, 24/7 customer service to both our renters and our homeowners. We currently manage over 250 homes along seven of the Finger Lakes.

Let Finger Lakes Premier Properties Assist You

When you first partner with Finger Lakes Premier Properties, you’ll be given the option of taking an annual maintenance agreement. Our maintenance staff specializes in vacation homes and can maintain seasonal as well as year-round homes. The maintenance crew is not sub-contracted; they are employees of Finger Lakes Premier Properties and are on-call 24/7.

You are not required to use our services if you’d rather handle the maintenance personally. If you’re interested in seeing a general list of the services we offer, check out our property maintenance page!

If you have concerns about keeping control over the rental property maintenance expenses, we understand! That’s why we will not issue work orders in excess of $200 without your prior consent. However, if it is an emergency, our first concern is always protecting your property, and we will do what is necessary to do just that.

Don’t Forget About Housekeeping!

Yes, that’s right, Finger Lakes Premier Properties will also take care of housekeeping services. As with our maintenance staff, the members of our housekeeping staff are all employees of Finger Lakes Premier Properties. They follow professional housekeeping standards to ensure that your property is well-cleaned and maintained. We offer everything from basic cleaning to laundry services. And yes, we also do windows.

Let Finger Lakes Premier Properties Help

If you’re a homeowner but don’t rent your home through Finger Lakes Premier Properties, you can still take advantage of our great housekeeping and maintenance services. Schedule regular maintenance for normal wear and tear or keep us in mind for any emergency repairs. As a property owner, you have more than enough to keep you busy.  Contact us to find out how we can help!

Are you looking for more great resources on maintaining a rental property? Check out our blog! It’s a great tool for learning the basics of owning a rental home!

Finger Lakes Kayaking and What You Need to Know

Grab your paddle and take to the water for some quality Finger Lakes kayaking! The Finger Lakes region is famous for the great boating and kayaking opportunities. Spend a day exploring the area on the water while getting some great exercise. From rentals to boat launches, discover everything you need to know about kayaking in the Finger Lakes.

Your Guide to Finger Lakes Kayaking
Best Place to Kayak in the Finger Lakes

Ask 10 people in the Finger Lakes where their favorite place to kayak is, and you’ll get 10 different answers. With so much beauty to be discovered, it’s no wonder! The Finger Lakes offer miles of clear, gorgeous water to explore. Which lake is right for you all depends on your personal preference. Without a doubt, the four most popular lakes to kayak are Seneca Lake, Cayuga Lake, Keuka Lake, and Canandaigua Lake. There aren’t many differences in difficulty of the journey between these lakes, and each lake has plenty of public kayak launches available.

Where to Rent a Kayak

Many of the stunning homes from Finger Lakes Premier Properties include a kayak or canoe that is available to guests. Simply search through our selection of homes with non-motorized crafts to see them all! If you fall in love with a home that doesn’t include a kayak, though, there are plenty of great rental agencies around.

Seneca Lake Kayak Rentals

If you’ve decided on kayaking Seneca Lake, both ends have wonderful vendors to rent from. At the north end, you’ll want to contact Fuzzy Guppies who are the area’s most popular providers of watersport sales, rentals, and accessories.  You can visit their shop or call ahead for delivery to your rental for the duration of your stay! The team at Fuzzy Guppies is also well versed in local fishing and can provide some great insights on where to cast.

At the south end of Seneca Lake, head to one of the most popular Watkins Glen kayak rentals, Summit to Stream Adventures. They are located at Village Marina in Seneca Harbor, at the southernmost tip of the lake. Summit to Stream Adventures offers single and double kayaks as well as paddleboards. They even offer guided private and public tours of Seneca Lake! While you don’t need to reserve a boat in advance, you will need to call and make a reservation for a kayak tour from Summit to Stream.

Keuka Lake Kayak Rentals

Visit Keuka Watersports for paddle boards and kayak rentals off Keuka Lake! They offer hourly or daily kayak rentals at Champlin Beach with no reservation required. If you’re interested in Keuka Lake kayaking, this is the place to go.

Cayuga Lake Kayak Rentals

Without a doubt, Puddledockers is one of the most popular kayak rentals near Cayuga Lake. Like Summit to Stream Adventures, they offer tours as well as rentals. Choose from the two-hour, four-hour, or eight-hour rentals of single, tandem, or adult and child kayaks. To get a great group experience of kayaking in the Finger Lakes area, take one of the available tours, like the Cayuga Lake Evening Paddle or the Harvest Moon. Who says kayaking is only for the daytime?

Canandaigua Lake Kayak Rentals

If you’re interested in exploring Canandaigua Lake, head to Reagan’s Canoe & Kayak Livery for a rental! They have provided thousands of visitors with canoes, kayaks, and paddleboards. They service six of the 11 Finger Lakes, including the very popular Canandaigua. Ask them the best areas to kayak while you’re renting your vessel!

Stay with Finger Lakes Premier Properties

After your Finger Lakes kayaking adventure, return to a beautiful home from Finger Lakes Premier Properties. We have the best selection of rentals along the shores of seven of the Finger Lakes. Remember to choose “non-motorized craft” when searching for your home to get a selection of properties with kayaks or canoes available to the renters!

If you’re hoping to go kayaking right from your rental home, consider booking Rapalee Retreat. Located off of Seneca Lake, this two-bedroom, two-bathroom property comes with a gorgeous, fully-equipped kitchen, a fire pit in the yard, a kayak available for guests as well as a Seneca Lake kayak launch!

Check out our full selection of rooms and book today! We look forward to having you.

What is the Time Investment of Owning a Vacation Rental?

When purchasing a second home for rental income, the first investment you think about is the financial cost of purchasing, owning, and maintaining a vacation rental. But have you considered the time you’ll invest in the process?

On average, it costs the owner 10 hours per week to maintain a vacation rental and provide a stellar experience for their guests. Time constraints are a common reason why homeowners contact Finger Lakes Premier Properties (FLPP) every day about managing their second home for both short and long-term rentals. At FLPP, we can manage the entire process by providing our owners with the following time-saving services:

Property Website & Profiles

Congratulations you have purchased a home to rent to vacationers coming to the Finger Lakes! Now how are you going to list it? You may choose to use one or a variety of third-party booking sites, each with its own calendar to update, description to maintain, and reviews to respond to. At FLPP, we manage all of your listings. From taking the professional photos to managing the profiles on each site, in addition to listing your property our top-ranked website attracting over 300,000 unique visitors each year, we’ll manage this cumbersome process for you.

Online & Onsite Reservation Agents

No need to worry about checking your email frequently for new inquiries. Our highly skilled reservation agents will follow-up, book, process payments, and secure a guest license agreement for each reservation. Between the virtual tours and knowledge of our agents, your prospective guests will have all of their questions answered about your home before their arrival. Our mobile-friendly website also provides guests the ease of booking and paying online.

24/7 Guest Services

We have a manager on duty 24/7 to answer any guest calls, eliminating your need to be available during their stay. If there is an urgent need to visit the home, FLPP will dispatch a member of their team to respond to your guest’s concerns.

Professional Housekeeping

The cleanliness of a house makes not only the first impression but a lasting impression. Cleanliness is an extremely high priority. We have professionally trained Zone Leaders and Housekeepers who are skilled and work diligently to prepare for all arrivals. All of our housekeepers are trained and scheduled to clean the entire house and switch out the linens between each reservation, at no cost to you! Depending on the size of your home, this could take up to 8 hours of your time alone! For more about our housekeeping services, click here.

Maintenance & Landscaping

Our Maintenance Department can provide repairs and home improvements for you at competitive rates. Each Maintenance Technician on our team is qualified to handle everyday issues that a renter might have while in your home, and we also work closely with preferred local vendors who meet our qualifications to offer services to our owners at the best rates possible. Our team also provides year-round services to homes throughout the region, including winterizations, snow-removal, and seasonal upkeep to further save you time on maintaining your home. For more information about our maintenance services, click here.

Yield Management

Some homeowners will set one rate for their home for the entire year, missing out on potential income based on local supply and demand. At FLPP we have a Yield Management team who monitors booking trends, consumer behavior, and the competition to present the right price for your rental to the right customer at the right time to maximize your earnings.

Marketing

When you list your home with FLPP you have the competitive advantage of being included in the diverse marketing strategies of FLPP’s team. From professional photography and virtual tours to instant exposure to FLPP’s establish digital networks and guest database, your home will be viewed by thousands of potential visitors almost instantly.

Book Keeping & Tax Filing

The experienced staff at FLPP does not stop with the front line. Members of our Accounting Department have been pro­viding timely owner statements and payments for 25 years. All financial transactions are in accordance with generally accepted accounting principles. You will receive automatic payment each month for your reservations and our team will prepare your annual tax documents for your vacation home.

Find Out More!

If you are considering renting your home or purchasing a home as an income property, keep all of these points in mind when calculating the time investment of maintaining a vacation rental. For more information about the property management services offered at FLPP, contact our Owner Services Department today at NewOwners@FLPPlake.com or 888-414-5253, option 3.

 

 

Discover 5 of the Best Finger Lakes Golf Courses

Practice your swing during your vacation to the Finger Lakes region! There are plenty of great courses scattered through the area that are sure to please even the most avid golfer. Enjoy stunning views and challenging courses at the best of the Finger Lakes golf courses!

Visit the Best Finger Lakes Golf Courses

Bristol Harbour Resort

Find out why the Bristol Harbour golf course has been ranked number six in the state by Golf Advisor! This course is fantastic for players of all skill levels. It stretches out over 6,700 yards and was designed by the world-renowned architect, Robert Trent Jones. It’s an 18-hole course that features stunning views of Canandaigua Lake.

Lakeside Country Club

Located off the shore of Keuka Lake, Lakeside Country Club features a Par-72 18-hole course that totals up to 6,631 yards. While this club is considered private, it does welcome visitors interested in becoming members. Give them a call to set up your tee time!

Silver Creek Golf Club

Silver Creek Golf Club is located between Cayuga Lake and Seneca Lake in beautiful Waterloo, NY! This family-friendly club is a fun place to spend the day. Swing by the Dungeon Lounge during your day out to enjoy a delicious lunch or dinner, or a refreshing beer. If you’d like to study up on the course layout, the Silver Creek Golf Club website has a virtual course tour!

Ravenwood Golf Club

Book your tee time today at Ravenwood Golf Club! This 18-hole course is south of Rochester, NY, and was selected by Golf Digest as the 5th Best New public course in the United States. This course has hosted many USGA and PGA qualifiers as well as the 2003 and 2009 New York Men’s Amateur Golf Championships. If you have any questions about the course, check their FAQ page! They cover everything from the dress code to memberships.

Watkins Glen Golf Course

Watkins Glen Golf Course is a nine-hole public golf course located just one-mile north of Watkins Glen, NY and south of Seneca Lake. This course is open from April to October and is the perfect midday stop for anyone exploring the beautiful town of Watkins Glen. There are seasonal memberships available at the course, which includes unlimited golf, discount cart rental, and other great benefits!

Stay at a Finger Lakes Premier Properties Vacation Home

If you’re searching for beautiful homes nestled on the shore of some of the Finger Lakes, look no further than Finger Lakes Premier Properties. We have the best selection of vacation rentals in the region, with gorgeous and luxurious properties that are perfect for any occasion. There’s no better place to return after a day at these Finger Lakes golf courses!

Quickly search through our catalog of properties on our website! Sort the homes by their location, rating, or price to find the property that’s best for you! If you know how many guests with whom you’ll be traveling, you can refine your search by the number of bedrooms, bathrooms, or daily rate.

Take a look at our beautiful homes and book today! We look forward to having you.