Democrat and Chronicle from Rochester, New York on October 24, 2015 · Page G4
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October 24, 2015

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Democrat and Chronicle from Rochester, New York · Page G4

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Rochester, New York
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Saturday, October 24, 2015
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Page G4
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4 Saturday,October24,2015 • DemocratandChronicle.com • Democrat and Chronicle • Real Estate & Rental Visit the DemocratandChronicle.com home page to see our Picks of the Week SHARON QUATAERT REALTY GREECE: 258 Macintosh Dr. A new direction of 1st flr living awaits you. Overlooked by the efficiently designed kit, the family rm offers a gas frplc & an abundance of natural light w/skylights, bay wndw & French drs opening to private yard. Master suite boasts a newly renovated bath & spacious walk in closet! This home also offers brand new hrdwds, carpet, furnace, & convenient 1st flr laundry. $169,900 MITCHELL PIERSON PITTSFORD VILLAGE : Incomparable and enchanting 12 STONEGATE (Private) LANE. Every inch ABSOLUTE turn-key PERFECTION! BRICK front window-wrapped CAPE on idyllic lot plus 3 CAR side load attached Garage and circular drive. $479K. Proudly presented by The Cameron- Napier Team at Mitchell Pierson Jr. I nc. 586-6622 Shown by Appointment. 732-0348 (c). NOTHNAGLE Don’t miss this week’s Gallery of Homes inside this section. DemocratandChronicle.com Picks of the Week Sharon Quataert 900-1111 Sha OPEN SUNDAY, 1 – 3 PM Week that ended 10-9-2015 12-27-2014 thru 10-9-2015 12-28-2013 t hru 10-102014 SalesMedianSalesMedianSales Median B righton 4113,450252177,250244166,500 Chili 7127,000191140,000179136,000 Clarkson 0042129,95038138,500 E. Rochester 004092,7503288,000 Gates 1134,000196107,500203104,000 Greece 25113,000686120,000625119,900 Hamlin 1106,00052126,00056118,450 Henrietta 6127,500273135,000223134,000 Irondequoit 10110,500505111,000453106,000 Mendon 0062251,50058253,000 Ogden 31 33,000 1 06 1 54,450 1 07 1 52,700 P arma 1198,000102146,50072138,700 Penfield 7227,500301200,000264189,500 Perinton 6175,000330199,900319208,000 Pittsford 7252,000262254,000241276,000 Riga 1229,00030157,30021149,900 Rush 1139,90031212,50029170,000 Sweden 372,50072124,95055121,000 Webster 1 0 1 67,500 3 26 1 82,750 2 73 1 62,000 W heatland 0023136,50025129,900 Totals93134,5003,882147,0003,517143,000 Rochester 17115,00069279,90067075,000 SELECT SURROUNDING MUNICIPALITIES Canandaigua 293,575133190,500143179,000 F armington 0090163,50078146,950 Geneseo 3178,50047160,00037157,000 Macedon 1112,00040154,45048137,450 Victor 3362,500133276,000121277,000 Walworth 0067161,00067153,500 S URROUNDING COUNTIES’ TOTALS G enesee 4162,857289109,900243106,000 L ivingston 15108,000316129,450274118,250 O ntario 14119,500687155,000669153,000 O rleans 9113,00028490,00022792,000 W ayne 11104,500465123,000456115,000 W yoming 1076,66017292,00016693,500 My husband and I own our home in a s mall village south o f Rochester. We have just renovated our k itchen and now want to move on to do our master bath. At the time we b uilt the home (2000), my husband insisted we put a tub/shower combo in for resale value. He has never used the tub once and I perhaps a h andful of times. Iwould like to reno- v ate and replace the current tub with just an upscale shower. What opt ion would be better for resale if we decide to sell in the future? — B. and B.C. Here we go again! It’s been some years since w e’ve asked readers to w eigh in on this important question, so let’s do it now. Please, let’s hear your advice, readers: Would you buy their h ouse if the master bath had a fancy shower and n o tub? Unexpected tax consequences You recently published some reader responses about how a woman could prevent her name and new add ress from being published in her newspaper. Readers suggested u sing LLCs or trusts to purchase the real estate. Readers should also consult a CPA or enrolled agent to discuss tax consequences before establishing an L LC or trust to hold their primary residence. This could have i mplications for their ability to sell later w ithout taxable gain o n the sale as well as other tax implications. — Via askedith.com One could indeed lose the chance for tax-free profit when a main residence is sold. Other h omeowner tax breaks m ight also be lost when a h ome is owned by some o ther legal entity. Let’s h ope the lawyer or CPA who helped set up an L LC or trust would ex- plain possible tax draw- b acks. And thanks to at- t orney P.M.G., who adds to last week’s article about private mortgage insurance (PMI) dropping off FHA mortgages when t hey’ve been paid down to 80 percent of original val- u e, or 78 percent of current higher value as determined by a new appraisal. H e points out that for newer FHA mortgages, those originated after J une 3, 2013, PMI coverage must remain for the whole life of the loan. Mortgage ‘ middlemen’ When that reader c omplained that her bank was deducting automatic mortgage payments but had stopped forwarding them to the lender, I suspect a “middleman” — one of those “service” c ompanies that take 26 bi-weekly payments and make an extra annual p ayment on your behalf while, in the meantime, t hey get free use of your m oney they’re holding. She still needs to fol- l ow your advice — call and tell her story to anyone that will listen. Another good call would be to the best investigative r eporter or problem-sol- v er reporter. Get the m edia involved. — B. K., Rochester To tub or not to tub EDITH LANK REAL ESTATE QUESTIONS SeeLANK,Page17G

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