Winter 2014 - Issue 8
  
In This Issue
Real Estate Investment Tips
Our Featured Employee
2014 Winter Olympics
Meet Our Board Members
Join Our Mailing List!
Quick Links

FUN FACT OF THE DAY

The most snow ever recorded in a 24 hour period in the USA was in Silver Lake, Colorado in 1921 and was 76 inches of snow.

Visit our website: www.garthchesterrealty.com

 

It is cold out there, folks! We hope all our shareholders and unit owners are staying warm this winter by snuggling up with loved ones and drinking some hot chocolate. Winter is a great time to stay inside and catch up on a great book or watch the Olympics. You can learn more about the 2014 Sochi Games right here in this issue.

 

Remember, we want to hear from you about our newsletter - what do you like? What do you want to read about? Who do you want us to feature in our next newsletter? Let us know by submitting a letter to the editor. Simply email us at:

info@garthchesterrealty.com.
Maybe you will see your letter in the next issue!

 

Also, don't miss our invaluable sales tips from Garthchester's own realtor Kathy Ciampi. Remember, if you are looking to sell your home, you can contact Kathy at katciampi@optonline.net or through our website at http://garthchesterrealty.com/sales.html.

She can help you get the most for your investment.  

 

 

Best,

 

John Bonito & Jay Mendel

 

LETTERS TO THE EDITOR

Do you have something to say about the Garthchester newsletter? We are very interested in your feedback about the articles we publish. We received a great response to our new Letters to the Editor section! Now get your voice heard! Send us your comments and questions to: 

info@garthchesterrealty.comMaybe you will see your letter in our next issue! Here is one of the letters we received:

   

Your newsletter is very interesting. I especially like the "special" articles i.e., turkey hints for this

month. And, I also like the employee of the month, so I can read about the people with whom I deal

with being a Board member of my coop. I would like to see Adele get some recognition since I deal

with her setting up interviews and getting the paper work on applicants. She is efficient and always

available!

 

Your management company is easy to work with and your staff is excellent. Brian Scally is our

managing agent and deserves kudos for putting up with our Board and residents.

Thanks for the good work!

 

Donna Bergin, 620-640 Pelham Road

 

Dear Donna,

Thank you for your letter. We are so glad to hear that you are enjoying the newsletter. In an

earlier issue, we did feature our wonderful Vice President Adele Frutkin. You can view the

article on our website at http://garthchesterrealty.com/newsletters.html by clicking on the

Spring 2013 newsletter.

 

 TOP TIPS FOR FIRST TIME REAL ESTATE INVESTORS

 

If you are thinking of getting into the real estate investment

game, now may be a great time to do it. Mortgage rates are extremely low and houses and apartments are still affordable. However, there are some important things to know before you jump in with both feet:

 

1. Get a team to help you. Whether you are buying one

property or more, you will need a good attorney, realtor,

and lender. Get your ducks in a row so when it comes time

to buy, you will be ready.

 

2. Don't overextend yourself. It sounds simple, but you want to make sure you can afford your investment and you aren't using savings that you will need in the near future.

 

3. Decide if you want to buy a turnkey home or something that needs work. If you are going to invest in a fixer-upper, remember, you aren't going to see your profits for a while. Plus you will need to put in extra money to make the necessary renovations.

 

4. Make sure you know that an investment property is not a home for you and your family. You are buying it simply to make a profit. So make sure the numbers work for you. Know if you are going to flip it and sell it, or renovate it and rent it.

 

Investing in real estate is a risk like anything else. It isn't a decision that should be made lightly. Make a plan and keep to a budget.

GET TO KNOW GARTHCHESTER: OSCAR SZOMOR

 

Garthchester Realty is a successful business thanks to an extremely dedicated staff. Our co-presidents have handpicked the very best people, many of whom stay with the company for years and years. A 20-year Garthchester veteran, Oscar Szomor has a very interesting history.

 

Oscar Szomor was born and raised in Hungary along with his

three sisters. In 1986, Oscar decided he wanted to experience 

something different, so he left his native country and moved to the

United States. Destined to be in real estate, Oscar started working as a building superintendent. During this time, Oscar attended IONA College. There he received a degree in Facilities and Property Management.

 

When Oscar was searching for a job in the management business, he received not one, but two different suggestions to contact Garthchester Realty. After meeting with him, Co-Presidents John Bonito and Jay Mendel hired Oscar in 1994. Jay says of Oscar, he is "a true success story -- an

immigrant who came to America and worked hard to succeed. As he worked for Garthchester, his

English became better and he proved to be extremely well organized and a quality managing agent."

 

As an agent for Garthchester, Oscar says he thrives on the fact that there is always something new

coming up, "one day is never the same as the one before. You always have to be prepared for the

unexpected." Despite the fact that Oscar misses his family when he has to work late at meetings, he

is dedicated to his job. John Bonito believes Oscar has the right personality to be a managing agent:

"Oscar represents everything you would hope for in a person. He is honest, dedicated, caring and

responsible. Garthchester, and all properties managed by Oscar, are fortunate to be associated with

such a dedicated person."

 

Oscar never lets conflict get him down. He says he always gives the staff of his buildings the benefit of the doubt and never holds grudges. This is one of the many reasons Oscar has so much success as a managing agent.

 

While Oscar is devoted to his job, he also loves spending time with his wife and teenage son. The

family attends church together and would love to travel one day when he has the time. For now, when

Oscar does get some spare moments, he likes to read history and biographies.

  

TIP OF THE DAY FROM GARTHCHESTER'S FEATURED EMPLOYEE:

If your neighbor is making noise, before you contact the management company, try reaching out to see if the problem can be resolved in a neighborly way. If the management company has to get involved, an agent will make sure your neighbor has the proper amount of carpeting as mandated in the proprietary lease or as stated in the by-laws of a condominium.

2014 WINTER OLYMPIC GAMES IN SOCHI

 

The Winter Olympics takes place in Sochi,

Russia for three weeks in February 2014.

There are 98 events in the Olympic Games

with more than 2500 athletes participating

from 88 nations across the world.

 

Besides the typical winter events - ice

hockey, skiing, figure skating, and more,

there are 12 new winter sports this year

in Sochi. This includes the first time that

women will participate in ski jumping at the

Winter Games. Also debuting this year is a number of mixed team events - ice-skating, luge, and a biathlon mixed relay. If you are interested in high-octane events, check out the new ski half-pipe for men and women and also skiing and snowboarding slope tricks. There is also a new snowboarding race - extreme high-speed excitement!

 

If you are looking for some great American athletes to root for, make sure to check out 18-year-old skiing sensation Mikaela Shiffrin. Some are calling the teenager the best slalom skier in the world.

Mikaela is the youngest American slalom world champion ever, winning seven World Cup Races by the time she was 18. Also be sure to check out the moves on the slopes from superstar American skier Ted Ligety. The 31-year-old has skied record-breaking races in the giant slalom.

 

Whoever you are cheering for, this year's Winter Olympics is a thrill to watch. 

 

MEET OUR BOARD MEMBERS: NEPTUNE HOUSE PRESIDENT MARIO TROZZI

Garthchester Realty appreciates our board members and thanks them for being dedicated to making their homes better places to live. This month, we are featuring Mario Trozzi who has been working tirelessly to make Neptune House (620-640 Pelham Owners) a financially stable, friendly, and safe place to live for his fellow shareholders.

 

Mario moved into Neptune House 18 years ago. He quickly became a member of the board, just about a year after he arrived. Currently, Mario is the Board President, after having served as Treasurer and Vice President in the past.

 

Mario and the current board have an impressive list of improvements that have been made to the building, many of which have been done without an assessment. Major work was done on the terraces, waterproofing, brick work, asbestos removal, driveway work, fencing and more. One of the larger projects was doing a total renovation on the elevators. Neptune House has two buildings with two elevators, one in each building. Renovating each elevator made it necessary to shut down the elevator for 8 weeks. This meant the building residents had to band together and help out - especially with the elderly shareholders. Mario made this happen - and it ran smoothly thanks to his time and effort. 

 

Up next, Mario and the board are planning to convert from oil heat to gas heat, a move that will bring about major savings on the heating bill. Completing this conversion is a huge project but one that Mario knows will benefit the building financially. Mario's financial background in accounting has been a huge asset to Neptune House. Garthchester Co-President Jay Mendel can attest to that: "Mario has been a long-time valued board member, serving as Treasurer before taking over as President. Throughout his tenure on the boards, he has always been a pleasure to work with. His financial background has made him invaluable to the cooperative."

 

Garthchester has been working with Neptune House since 1987. Mario says the board's relationship with Garthchester is very good, "we haven't had a problem with Garthchester since the start." Being quick to deal with problems that come up is important to Mario and the board at Neptune House. He says Managing Agent Brian Scally has been on top of that: "Brian is always very helpful. Whenever I call him, he gets back to me right away. Plus he does a great job following up with the staff and keeping in touch with what is going on in the building."

 

Being a board member isn't something you get paid for, but Mario says he took on the job because he is concerned with the financial interests of the building. In order to protect his investment and those of fellow shareholders, Mario wants to "make sure the building is a stable building with sufficient funds to operate. Plus just being involved in the whole running of the building is what motivates me and keeps me on the board."

 

Mario knows keeping fellow shareholders happy is an important part of the job, but there is a balance because the cooperative is a business. Mario says the financial reports from Garthchester are extremely helpful because he can present the finances to the shareholders and "they can see it in black and white." In the end, Mario says he tries to keep everyone happy and safe at Neptune House. Co-President John Bonito says, "Mario's dedication to Neptune House defines what the ideal board member of a cooperative should be - the property always comes first with Mario. He is able to accomplish a great deal, while maintaining a friendly and caring attitude."

 

While Mario works hard to keep the building stable, he also truly loves living at Neptune House. That's why he says he has stayed and raised his daughters there. Making friends and enjoying the pool in the summer make all the hard work worth it for Mario.

 

GARTHCHESTER SALES

 

Right now, our sales department has just sold a home on Pelham Road. There are also some new listings available for purchase that can be found on our website.

  

If you are looking to list your home, speak to Kathy Ciampi. She will work tirelessly to get your home sold right away. Contact Kathy on our website at http://garthchesterrealty.com/sales.html or you can email her at katciampi@optonline.net for more information.

 

 

SALES TIP OF THE MONTH:

 

It may seem hard to believe but spring is right around the corner. Although the winter market was slow, there were quite a few sales made, especially in the co-op/condo market. Traditionally co-ops and condos are not seasonally based properties. More specifically, a one-bedroom co-op/condo isn't going to be sold based on the beginning of the school year. However, if you have a two-bedroom or larger, spring is the ideal time to list as it takes a few months for mortgaging, application, board approvals and closings.

 

As always, Garthchester is here to help. We will make an appointment at your convenience to view your unit, measure square footage and take pictures. A thorough market analysis will be made with market area comparables. Then we will come back to you with an estimate of market value and what we think a fair, accurate selling price will be. At that point, if you are ready, we will happily list it for you. We handle everything.

 

- Kathy Ciampi, Licensed NY State Appraiser and Garthchester Realtor

 

FLEETWOOD LOCK
 
JP MCHALE