By Christine Graf

Miranda Real Estate Group Inc. recently opened its third Capital Region office at 1412 Route 9P on Saratoga Lake in Saratoga Springs. In addition to its corporate office in Clifton Park, the company has a satellite office in Rotterdam.

Owner Willie Miranda, a real estate broker with 29 years of industry experience, is also the owner of Miranda Insurance Agency, an Allstate Insurance franchise in Clifton Park. When the Schenectady native and Clifton Park resident opened his real estate company 20 years ago, his staff included four agents.

“Little by little we went from a small team to a big team. In 2009, we were the number one team in the Capital District, and in 2011 I decided to be more of a broker—helping other agents build their business within our business,” he said. “We’re currently at about 89 agents.”

Because the company does a considerable amount of business in Saratoga, opening an office on Saratoga Lake made good business sense.

“There was an opportunity that came up that we thought would be good for our business,” said Miranda. “There are no other real estate brokerages that have an office on Saratoga Lake.”  

Miranda Real Estate Group handles both residential and commercial properties. The company’s residential agents have been especially busy over the past several years.

By Christine Graf

After seven years of working as a commercial Realtor at Berkshire Hathaway, real estate broker Anne Cabral made the decision to venture out on her own. 

At the end of 2020, she established Glorious Day Real Estate, a commercial and residential real estate company with an office in Ballston Lake. Cabral recently relocated her office to a newly-renovated 2,500-square-foot space at 763 Saratoga Road in Burnt Hills. She is leasing the property with the option to buy.

While at Berkshire Hathaway, Cabral earned her broker’s license and gained experience as an associate broker. It was during the early days of the pandemic that she began to seriously consider the possibility of opening her own real estate company. At the time, the commercial real estate market was at a standstill. 

“It gave me a lot of time to think,” she said. “It was one of those things where I knew that if I was going to go out on my own that now was the time to do it. I had thought about it for a while but had just never really had the time. Starting a new business takes a lot of work.”

While working on her business plan, Cabral reflected on her career as a real estate agent. She thought about the things she liked as well as those that she didn’t.  

 “One of the things that I really don’t like about the real estate industry is that brokers can take listings. Agents are in competition with their broker, and I felt that if I were a broker to agents that I would like the agents to be my clients. I would like to be available to help educate, inspire, and support them with their clients,” she said.

 It was for that reason that Cabral made the decision to forgo taking on clients of her own. Although she is sometimes asked to co-list a property with one of her agents, she does not share in the agent’s commission.

By Christine Graf

As demand for new homes surges throughout the country, supply shortages and price increases continue to plague the construction industry. According to the National Association of Homebuilders (NAHB), more than 90 percent  of builders experienced materials shortages and delays in 2021.

Builders were encouraged when lumber prices began to fall after a record high in May of 2021, but prices began to climb again in December. The average cost of lumber is now about three times more than it was before the pandemic, industry officials say.

Economists predicted that supply chain shortages and material costs would begin to ease, but that was before Russia invaded Ukraine. Experts say the war in Ukraine will disrupt supply chains and further exacerbate shortages and price increases. The increase in oil and gas prices that have resulted from Russian sanctions will also impact production and transportation costs.

According to Cecil Provost, owner of Saratoga Construction and Saratoga Modular Homes, increased material costs have caused the average home price to skyrocket.

His companies build custom “stick-built” homes as well as custom modular homes. Stick-built homes are constructed on the job site, whereas modular homes are built in sections at a factory.

“Our specialty is building custom homes with modular construction. We are typically doing porches, and garages, and decks, and higher end finishes. What’s unusual about us is that we design every home from scratch for the customer. We can customize it right down to the bathroom faucets. We are the only builder that I know of in this region and one of the few in the northeast that do what we do.”