January 2019 - Finger Lakes Premier Properties Blog

Lakefront Real Estate Trends

For Real Estate trends, 2018 was quite a year for waterfront homes in the Finger Lakes. As you can see from the chart below, many lakefronts saw a decrease in the number of homes sold, average sale prices, and overall volume sold. However, looking at the days on market, we can see the complete story.

The overall lakefront market has seen an increase in buyer’s self-education of the market conditions. Many can recognize an overpriced listing and will wait for another appropriately priced home, rather than making a low offer. So we have seen new listings entering the market sell quickly, typically in under 2 weeks time. For example, 12 of the homes we listed for sale in 2018 sold in less than 10 days. Another 4 sold in less than 2 weeks.

The market is not down because of disinterested buyers. It is down because there were not enough homeowners wanting to sell in 2018. This has created a seller’s market here in the Finger Lakes. Owners are seeing full price or more on the offers for their homes. This is true for those that are priced appropriately for the market. These market conditions exist even on lakes such as Honeoye or Conesus. Though there was little change in the average sale prices on these lakes, there were large decreases in their average days on market.

In these conditions, now is a great time to sell your lakefront home to get the most money in the shortest amount of time. There remains a large pool of potential buyers looking for the perfect lakefront home in our region. Especially as the Finger Lakes grows as a popular vacation destination. Despite spring being seen as the popular time for real estate transactions, with limited competition, new listings are getting optimal exposure and quick turnover in this first quarter.

For more information about lakefront trends, contact our Real Estate team today at 833-311-5575 or email us at sales@FLPPlake.com.

Looking to buy a lakefront home or investment property in the Finger Lakes? Search our listings today!

Smart Home Tech Upgrades Guests Will Love

It’s no secret, technology and innovation have exploded into every facet of our lives. Homes are no exception to this technological revolution. With Smart Home technologies now available, many consumers—whether buying or renting—allow smart home features to influence their purchase decision. “Approximately 81% of home buyers prefer smart homes over non-smart homes,” according to VRM Intel. Ranked by consumer demand, the following features are ones that homeowners should consider installing in their vacation rentals to increase appeal and bookings.

1. Fast Wi-Fi

We’re in the 21^st century. A home without Wi-Fi is like living in the Dark Ages. A home without fast Wi-Fi isn’t much better—possibly worse. Just imagine your guest, waiting for a website to load, waiting for twenty seconds. Unthinkable. If you want to see bookings, fast Wi-Fi is a necessity.

2. Smart Security Systems

This could include electronic access or high-tech door locks. You wouldn’t think smart security systems would be at the top of the list for vacation renters. For a homeowner, yes, but not a guest. Yet, in a study conducted by August.com, 93% of guests showed interest in smart security systems over other smart features. Sounds like a win-win for both homeowners and guests. Nobody has to worry about keys getting lost or stolen and the access code can be changed, preventing previous guests from returning to pick up that phone charger they forgot. At Finger Lakes Premier Properties we have accommodated this trend with our remote smart locks. Not only providing guests with an extra sense of security but also the peace of mind with an easy check-in process to begin their vacation.

3. Smart TV

If you want guests to have a positive experience and keep them coming back, install a smart TV if you haven’t already. Smart TV’s ranked just as high as security systems in the previous study. Why? Because guests enjoy connecting to their personal Netflix or Hulu account to watch whatever their heart desires.

4. Voice Assistant

Go over the top and impress your guests with a voice assistant such as Amazon Alexa or Google Assistant. The hotel and vacation rental industries are already incorporating smart home features. Why not jump ahead of the pack and get a larger share of market? The voice assistant is able to provide local information, accessing music, weather reports, and the answers to a wide variety of other questions. Think convenience. Think comfort. Anything to make your guest’s vacation easier and more enjoyable.

5. Smart Tablet

The days of ink and paper are dwindling. Digital is the way to go. In addition to or in place of a voice assistant, you could include a welcome tablet. So instead of flipping through a book to find information, guests can use the tablet for an interactive experience. The smart tablet is just another way to make your property stand out from others as modern, hip, and techy. If you are worried about the tablet or voice assistant mysteriously disappearing, don’t worry. Anti-theft security grips or cable lock kits have you covered.

Another recommendation is to ask your property manager what they offer in terms of guest apps. At Finger Lakes Premier Properties, our guest app not only provides information about a reservation and details about their rental, but it also offers local information on restaurants, attractions, and events.

Finger Lakes Premier Properties Can Help!

Unsure where to begin or how to proceed with tech upgrades, let us help you. Our Owner Services department has over twenty-five years experience working with guests; they know what guests want. Contact Owner Services today for professional advice on technological upgrades you can implement in your home.

Can You Guess Our Favorite Things to Do in Ithaca, Ny?

In between spending your days by the lake or hiking nearby trails, take some time during your stay by Cayuga Lake to visit Ithaca, NY. This small lakeside town has the vibe of a quiet college town with some of the most gorgeous parks in the state. Check out some of the best things to do in Ithaca, NY. For even more great tips on vacation planning in the Finger Lakes, download our free Vacation Guide!

The Inside Scoop on How to Plan the Best Finger Lakes Wedding

A wedding is supposed to be one the best days of your life. Why, then, is it so stressful to plan? From finding a venue to securing the vendors, it can seem like an impossible task. It doesn’t have to feel that way! With a little bit of guidance, the perfect venue, and comfortable accommodations, you can make sure that your Finger Lake wedding goes off with a hitch!

If you have out-of-town guests traveling to the Finger Lakes, send them a copy of our free Vacation Guide! They’ll love having some help planning their stay.

Finger Lakes – #1 Wine Region in the Nation

Whether you live in or have visited the Finger Lakes, you probably agree with most everyone that it is a breathtaking part of the country. However, not only is it beautiful, it has also been nominated as the #1 wine region in the United States, according to a 2018 poll conducted by USA Today’s 10 Best. Check out some of the wineries that contributed to the Finger Lakes nomination as #1 wine region in the nation.

Winery Restaurants

F.L.X. Table / Element Winery – Geneva, N.Y.

As the leading restaurant in the Finger Lakes, F.L.X. Table at Element Winery provides an intimate and interactive dining experience. With only fourteen seats available, slots fill quickly. So plan ahead and make your reservation early.

Fox Run Cafe at Fox Run Vineyards – Penn Yan, N.Y.

Careful to serve high-quality foods that are in season, the Fox Run Café strives to represent the Finger Lakes region whenever they can. With several menu items, Fox Run staff pair wines with each menu item, carefully focusing on how the flavors complement each other. The café is open seasonally April-December.

Veraisons Restaurant at Glenora Wine Cellars – Dundee, N.Y.

At Veraisons, everything is made from scratch and sourced locally. From the meats, cheese, fruits, vegetables, sauces, bread, and desserts—everything is homegrown in the Finger Lakes region. Veraisons also pays particular attention to diners with food allergies and dietary restrictions, serving vegan and gluten-free dishes.

Winery Tasting Rooms

Fox Run Vineyards – Penn Yan, N.Y.

Taking seventh place for the best wine tasting room is Fox Run Vineyards, according to 10 Best, an affiliate of USA Today. Open year-round, Fox Run invites guests to visit their tasting room and explore all the different wines they have to offer.

Dr. Konstantin Frank – Hammondsport, N.Y.

While guests enjoy complimentary tasting of curated wines, the Dr. Konstantin Frank tasting room offers a beautiful view of Keuka Lake. In addition, guests will be led through five wines as wine educators relay the story of Dr. Konstantin. The tasting room is open year round.

Wine Festival

Finger Lakes Wine Festival – Watkins Glen, N.Y.

Dedicated to showing off what New York has to offer for the wine industry, the Finger Lakes Wine Festival was ranked as the fifth best in America, according to 10 Best. The festival takes place annually between July 13-15, offering numerous opportunities to learn about and taste the best wine and culinary in the state.

Winery Tour

Hermann J. Wiemer Vineyard – Dundee, N.Y.

In the heart of the Finger Lakes, Hermann J. Wiemer Vineyard overlooks the largest of the lakes in the region—Seneca Lake. Known particularly for their Riesling wine, Wiemer employs meticulous viticulture and strict ecological standards to produce high-quality wines. Take a tour the next time you are in the area.