Monday, March 31, 2008
Ask a realtor
Do you have questions you'd like to ask a realtor? Post them here or e-mail me at cathykenyonjones@earthlink.net
Do you have a favorite place you'd like to share?
Do you have a favorite place you'd like to share? Tell me about it by commenting on my post or e-mail me at cathykenyonjones@earthlink.net
Disclaimer
All recommendations on this blog are my opinion. I am not an expert judge, I just have opinions I am willing to share in hopes that you will try these places and judge them for yourselves. And maybe even come back onto my blog and tell me about your experience?
Best restaurants outside of the Quabbin hills area
My favorite restaurants outside of the Quabbin hills/Pioneer valley, Massachusetts area are
in Keene, New Hampshire:
a. Thai place
b. very expensive California cuisine, has outside tables, but very good
c. Margarita's Mexican
d. Brubaker's coffee (after lunch)
in Keene, New Hampshire:
a. Thai place
b. very expensive California cuisine, has outside tables, but very good
c. Margarita's Mexican
d. Brubaker's coffee (after lunch)
Best Coffee in the Pioneer Valley, Massachusetts
The best coffee in the Pioneer Valley, Massachusetts (in order of greatness):
1. Esselon Cafe on MA-9 in Hadley
2. Amherst Coffee on Amity, just west of N. Pleasant Street
3. Starbucks Coffee on North Pleasant, one block north of Main/Amity and in Northampton on the main street, toward Smith College's Art Museum, but not as far
4. Koko's Cafe in Greenfield
5. Dunkin Donuts everywhere (Two in Athol, two in Orange, and at least four stores in Amherst on Route 9, one on MA-2A in Greenfield, one in Barre on MA-122, south of town
But the best of the best is Brubaker's Coffee in Keene, New Hampshire, next to the best restored old-fashioned movie theatre in the world, the Colonial Theatre. They allow you to go next door and buy a cappucino and dark chololate bar and bring it into the theatre with you as you watch your art film. How amazing is that? Try that with any other theatre.
1. Esselon Cafe on MA-9 in Hadley
2. Amherst Coffee on Amity, just west of N. Pleasant Street
3. Starbucks Coffee on North Pleasant, one block north of Main/Amity and in Northampton on the main street, toward Smith College's Art Museum, but not as far
4. Koko's Cafe in Greenfield
5. Dunkin Donuts everywhere (Two in Athol, two in Orange, and at least four stores in Amherst on Route 9, one on MA-2A in Greenfield, one in Barre on MA-122, south of town
But the best of the best is Brubaker's Coffee in Keene, New Hampshire, next to the best restored old-fashioned movie theatre in the world, the Colonial Theatre. They allow you to go next door and buy a cappucino and dark chololate bar and bring it into the theatre with you as you watch your art film. How amazing is that? Try that with any other theatre.
Athol home for sale
I toured a three bedroom, one bath home in upper Athol on Saturday. It was only $150,000 and showed very well for that price range. It was in a very dense neighborhood but had a nice backyard with a gazebo and storage shed. It had been well maintained and very clean. Worth a look if you are looking for a very affordable home that is ready to move right into. Athol is located just north of MA-2 at exit 17, then go left on MA-2A. This particular home is located off of MA-32. Call 978-846-7398 if you are interested in seeing this home.
Information of Value
Occasionally I run across information I think might be useful to you. When that occurs, I e-mail that information to you. If you would like to be added to my e-mail list just ask! Contact me at cathykenyonjones@earthlink.net
Wish to receive my free busines directory online?
Would you like to receive my free Quabbin hills business directory by e-mail? E-mail cathykenyonjones@earthlink.net and I'll send it to you right away.
Favorite Restaurants in the Quabbin Hills/Pioneer Valley MA
Favorite restaurants in in Orange, Massachusetts:
1. Jackson's Farm on Wheeler Ave, in North Orange
2. Annie's Drive-in on MA-2A
3. 202 Grill on Hwy 202, just south of Hwy 2's exit 16
Favorite restaurants in Athol, Massachusetts:
1. Edwards, From MA-2A downtown, turn onto Exchange St, toward the train (not the river), and at stop sign, go right. The restaurant is on the right side.
2. House of Pizza on MA-2A downtown, across the street from Athol Credit Union
3. There is a fish restaurant on MA-2A, in upper Athol, across the street from Athol High School.
Favorite restaurant in Erving, Massachusetts:
- Copper Angel on MA-2A just off of where MA-2A splits off of MA-2, very near Wendell Depot
Favorite restaurant in Petersham:
- Quabbin Woods on MA-122, just after where it becomes MA-32, across the street from The Garage
Dunkin Donuts are located at:
1. MA-2 and MA 202 at exit 16 in Orange
2. MA-2A in Orange, in the Hannaford grocery store shopping center
3. MA-2A in upper Athol
4. MA-122 in Barre (pronounced Barry)
And almost anywhere else you look that has businesses
Favorite restaurants in Greenfield:
1. A mexican place in downtown, just across the street from Koko's Cafe and great coffee
2. A vege place a few blocks west of the quaint movie theatre, very good
3. A Thai place across the street and west a few blocks from the movie theatre
Favorite restaurants in Northampton:
1. Paul and Elizabeth's in Thorne's mall in downtown
2. Spoleto's Italian downtown
3. Tibetan food in downtown
4. a vege place around the corner from the main street in downtown, near Starbucks
5. a Thai place on the main street, just past the tracks from downtown
Favorite restaurants in Amherst:
1. Paradise of India on Main Street, just two blocks east of N. Pleasant
2. Pasta E Basta on Main Street one block east of N. Pleasant
3. Judie's on N. Pleasant, two blocks north of Main Street
4. Chez Albert on N. Pleasant, a block south of Main Street
1. Jackson's Farm on Wheeler Ave, in North Orange
2. Annie's Drive-in on MA-2A
3. 202 Grill on Hwy 202, just south of Hwy 2's exit 16
Favorite restaurants in Athol, Massachusetts:
1. Edwards, From MA-2A downtown, turn onto Exchange St, toward the train (not the river), and at stop sign, go right. The restaurant is on the right side.
2. House of Pizza on MA-2A downtown, across the street from Athol Credit Union
3. There is a fish restaurant on MA-2A, in upper Athol, across the street from Athol High School.
Favorite restaurant in Erving, Massachusetts:
- Copper Angel on MA-2A just off of where MA-2A splits off of MA-2, very near Wendell Depot
Favorite restaurant in Petersham:
- Quabbin Woods on MA-122, just after where it becomes MA-32, across the street from The Garage
Dunkin Donuts are located at:
1. MA-2 and MA 202 at exit 16 in Orange
2. MA-2A in Orange, in the Hannaford grocery store shopping center
3. MA-2A in upper Athol
4. MA-122 in Barre (pronounced Barry)
And almost anywhere else you look that has businesses
Favorite restaurants in Greenfield:
1. A mexican place in downtown, just across the street from Koko's Cafe and great coffee
2. A vege place a few blocks west of the quaint movie theatre, very good
3. A Thai place across the street and west a few blocks from the movie theatre
Favorite restaurants in Northampton:
1. Paul and Elizabeth's in Thorne's mall in downtown
2. Spoleto's Italian downtown
3. Tibetan food in downtown
4. a vege place around the corner from the main street in downtown, near Starbucks
5. a Thai place on the main street, just past the tracks from downtown
Favorite restaurants in Amherst:
1. Paradise of India on Main Street, just two blocks east of N. Pleasant
2. Pasta E Basta on Main Street one block east of N. Pleasant
3. Judie's on N. Pleasant, two blocks north of Main Street
4. Chez Albert on N. Pleasant, a block south of Main Street
Promote your business for free
Do you have a business in the Quabbin hills/Pioneer valley, Massachusetts area? Would you like more visibility for your business? E-mail cathykenyonjones@earthlink.net. I publish a free monthly online local business directory. I'd love to add your business to my directory.
What's on your mind?
Is there a topic you'd like to know more about? E-mail me at cathykenyonjones@earthlink.net and ask me your real estate or Quabbin area/Pioneer Valley question. Let me know if you'd like the question answered individually or posted for everyone to read. Can't wait to hear from you.
Saturday, March 29, 2008
Real estate ads
Should I call the company listed on the ad for a home I'm interested in seeing? No! They represent the seller. Yes some brokers (a broker is the agent's boss) have designated agency (meaning they can represent both the buyer and the seller while both the seller and the buyer are still represented by their own agents). This means you, the client, is represented. But both the buyer and the seller are represented by the same broker (your agent's boss). In most cases this works out fine. But if the broker sides with her best interest over yours, that can be a problem.
For example, you call me for a listing in our office. You are interested in buying home X, listed by an agent in my office. I'd work for you and the listing agent works for the seller. But both me and the listing agent work for the same broker, Tini Sawicki. That means if there is an issue the seller's agent and I can't work out on our own, Tini decides. Hopefully this situation will never occur. I can't imagine very many situations where the other agents in my office wouldn't be reasonable and make a mutually fair decision without involving Tini.
Here's an example of a broker not working in the client's best interest. I've been a seller, years ago, before I became a realtor, when my agent's broker wasn't fair. I'd listed my home for sale with broker Y's agent. Then my agent chose to un-affiliate with broker Y. That means my agent now works for broker Z. The problem is that my listing stayed with broker Y and I now had a stranger for an agent. But I wanted to stay with my original agent. So I requested that broker Y release me from my contract. Broker Y refused to allow me to get out of my contract. It is in situations like this that having an impartial broker is critical.
The moral of the story is that you should always call your own agent, not an agent in an ad. Why not call an ad? Because that agent is most likely going to show you the homes you call about first. But why would you want to see only the homes that happen to be advertised in the paper that day? Wouldn't it be more efficient to decide what your're looking for, call your own agent and tell her what you need? An agent will then do a search of properties that meet your needs as closely as possible. Also, an agent will know the properties, she'll have been in many of them and be able to tell you if you should even bother to see some of them. She knows they are not what you're looking for. Wouldn't this save you lots of time and frustration? There are lots of homes to see these days. Why not see the right one for you without looking at all the wrong ones first?
For example, you call me for a listing in our office. You are interested in buying home X, listed by an agent in my office. I'd work for you and the listing agent works for the seller. But both me and the listing agent work for the same broker, Tini Sawicki. That means if there is an issue the seller's agent and I can't work out on our own, Tini decides. Hopefully this situation will never occur. I can't imagine very many situations where the other agents in my office wouldn't be reasonable and make a mutually fair decision without involving Tini.
Here's an example of a broker not working in the client's best interest. I've been a seller, years ago, before I became a realtor, when my agent's broker wasn't fair. I'd listed my home for sale with broker Y's agent. Then my agent chose to un-affiliate with broker Y. That means my agent now works for broker Z. The problem is that my listing stayed with broker Y and I now had a stranger for an agent. But I wanted to stay with my original agent. So I requested that broker Y release me from my contract. Broker Y refused to allow me to get out of my contract. It is in situations like this that having an impartial broker is critical.
The moral of the story is that you should always call your own agent, not an agent in an ad. Why not call an ad? Because that agent is most likely going to show you the homes you call about first. But why would you want to see only the homes that happen to be advertised in the paper that day? Wouldn't it be more efficient to decide what your're looking for, call your own agent and tell her what you need? An agent will then do a search of properties that meet your needs as closely as possible. Also, an agent will know the properties, she'll have been in many of them and be able to tell you if you should even bother to see some of them. She knows they are not what you're looking for. Wouldn't this save you lots of time and frustration? There are lots of homes to see these days. Why not see the right one for you without looking at all the wrong ones first?
Friday, March 28, 2008
Snow removal and construction tips
When buying a home, what are the things I should consider regarding snow removal? First, how will you remove the snow. The options are 1. shovel 2. snow-thrower 3. plow (either yourself or hire someone else). Once you determine the removal method, that determines the home you buy, here's why. If you are shoveling the snow yourself, you want to buy a home where you can park your car nearest to the road that is plowed by the county or someone else. Be careful here. I used to work with a womon on a town board. She lives on a road where the town had just stopped plowing. She sued for the plowing to resume, and lost. So she quit the board in protest. But I digress. So for you, buying a home with a parking place or garage right on the road might be best. 2. If you are using a snow-thrower, you want a driveway that is paved and not too long or too steep. Snow-throwers don't work very well without pavement. 3. If plowing is your removal method, then be sure the plower has a place to move the snow to. You don't want your septic field driven on. Driving on your septic field will, over time, damage it. This can be very expensive to repair, so don't drive on your septic field. For example, when I had LaPointe Builders, in Petersham, build my two-car garage, George was careful to keep himself and his sub-contractors, off my septic field. This was especially important when the cement truck arrived. Also, when the trusses were delivered, George roped off an area for the delivery driver to put them so they wouldn't be on my septic field. Think of these things when plannng construction work and plowing.
No matter how you remove the snow from your driveway, be sure to plan your construction and yard design plan for mounds and mounds of snow, up to six-feet high and six-feet wide, on either side of your driveway. So don't put plants near the driveway, for instance. Delivery trucks will, inevitably, back down your driveway. If your driveway curves, like mine does, then they might not know that. They'll back straight out and run over your plants. And the heavy snow will not be good for plants either. So keep empty a wide area on either side of your driveway for snow piles.
By the end of winter this year, I had snow so high I could not see oncoming vehicles when leaving my driveway. Plan for this and be strategic when removing snow. This year I blew the snow on both sides of my driveway. Next year I plan to blow it away from the street as much as possible to prevent the tunnel-effect. Also, I will blow it to the right side, where the ground is lower and so when it melts it will go downhill. This way, there will be less ice on my driveway. This is because during the warm days the snow melts and in the evening that water becomes ice on my driveway. Next year I want that ice on my septic field, not my driveway!
And, remember, every town has a place where citizens can go to pick up free sand, take advantage of this! Take a few buckets and a shovel with you and keep sand onhand for when your driveway becomes an ice rink for you and your vehicle. You'll be very glad you did.
No matter how you remove the snow from your driveway, be sure to plan your construction and yard design plan for mounds and mounds of snow, up to six-feet high and six-feet wide, on either side of your driveway. So don't put plants near the driveway, for instance. Delivery trucks will, inevitably, back down your driveway. If your driveway curves, like mine does, then they might not know that. They'll back straight out and run over your plants. And the heavy snow will not be good for plants either. So keep empty a wide area on either side of your driveway for snow piles.
By the end of winter this year, I had snow so high I could not see oncoming vehicles when leaving my driveway. Plan for this and be strategic when removing snow. This year I blew the snow on both sides of my driveway. Next year I plan to blow it away from the street as much as possible to prevent the tunnel-effect. Also, I will blow it to the right side, where the ground is lower and so when it melts it will go downhill. This way, there will be less ice on my driveway. This is because during the warm days the snow melts and in the evening that water becomes ice on my driveway. Next year I want that ice on my septic field, not my driveway!
And, remember, every town has a place where citizens can go to pick up free sand, take advantage of this! Take a few buckets and a shovel with you and keep sand onhand for when your driveway becomes an ice rink for you and your vehicle. You'll be very glad you did.
Quabbin Permission to Carry Weapons
How do I know where to buy a home that has a police chief willing to allow me a Massachusetts permit to carry a gun? That's a tough one. You have to talk to people. Every town has a police chief. Every police chief is personally responsible for issuing carry permits. So every chief is very careful to issue permits only to people he/she feels deserves that license. Unfortunately, you can't learn this information in advance of buying a home, here's why. Assume I want to buy a home. I do so. Then I call the dispatch to request an appointment with my police chief. This can be difficult as small towns have part-time chiefs who may be on vacation in Florida the week I call. Once I get the appointment, then I fill out all the paperwork. But first I ask around at the local sporting clubs or sporting stores for where there is a gun carrying permit class. Local clubs offer the class for a series of evenings or weekends or you can get it done in Springfield in an all day class. Once you pass this class and the background check the police do on you, then, weeks, later, your permit arrives in the mail and you are good to go.
But in the meantime, you are illegal if you already own weapons when you move into the state. There is no way to obtain this permit in advance unless you buy the home and take the class and do all of the above long before you actually move into Massachusetts.
The local gun stores are 1. Bucks Rub on 2A in Orange 2. R & R Sports in Belchertown 3. Dick's in Hadley 4. Ware Guns on 9 in Ware 5. Wal-Mart in Orange and in Ware 6. Tombstone Trading in West Brookfield 7. There is also one I can't remember the name of in Gardner. The two gun clubs I know are 1. The Orange Gun club on 2A in Orange and 2. The Petersham Gun Club just outside of Petersham, north, I want to say off of 32, but not sure.
The reason I know all of the above is that I have clients for whom shooting is the year-round reason to live. These clubs are very inexpensive to join, have very nice members who are very welcoming, and offer sporting clay shooting and trap shooting, even at night. For these dedicated sportsmen, these clubs are year-round. They just bundle up and off into the snow they go. If they have significant others, they, hopefully, have other things to do if shooting isn't their thing, because this sport is very time-consuming and they will be very lonely if they aren't busy with their own lives.
On the other hand, the weapons they use are very competitive and often snobby. There is much competition to go to the Amos Keig (not sure of spelling), New Hampshire auction regularly to buy new shot guns. I know one member who owns many 100-year old Parkers and Ithicas (again not sure of spelling). He is not a fanatic. He just lives at his club and lives to admire and use and show-off his shooting expertise and knowledge and hobby and collection to others who have the same interests. I think of it as women who have closets of shoes. But then, I've known sportsmen all my life. When my spouse was an Army Reserve commander of an Engineering unit in Wisconsin, he used to have to move the drill meeting date whenever the hunting season arrived. If he didn't, despite it being AWOL (absent without leave) and an Article 15 offense (legal punishment) noone would show up for work! It was experiences like this that helped me understand the sportsmen's mindset.
But in the meantime, you are illegal if you already own weapons when you move into the state. There is no way to obtain this permit in advance unless you buy the home and take the class and do all of the above long before you actually move into Massachusetts.
The local gun stores are 1. Bucks Rub on 2A in Orange 2. R & R Sports in Belchertown 3. Dick's in Hadley 4. Ware Guns on 9 in Ware 5. Wal-Mart in Orange and in Ware 6. Tombstone Trading in West Brookfield 7. There is also one I can't remember the name of in Gardner. The two gun clubs I know are 1. The Orange Gun club on 2A in Orange and 2. The Petersham Gun Club just outside of Petersham, north, I want to say off of 32, but not sure.
The reason I know all of the above is that I have clients for whom shooting is the year-round reason to live. These clubs are very inexpensive to join, have very nice members who are very welcoming, and offer sporting clay shooting and trap shooting, even at night. For these dedicated sportsmen, these clubs are year-round. They just bundle up and off into the snow they go. If they have significant others, they, hopefully, have other things to do if shooting isn't their thing, because this sport is very time-consuming and they will be very lonely if they aren't busy with their own lives.
On the other hand, the weapons they use are very competitive and often snobby. There is much competition to go to the Amos Keig (not sure of spelling), New Hampshire auction regularly to buy new shot guns. I know one member who owns many 100-year old Parkers and Ithicas (again not sure of spelling). He is not a fanatic. He just lives at his club and lives to admire and use and show-off his shooting expertise and knowledge and hobby and collection to others who have the same interests. I think of it as women who have closets of shoes. But then, I've known sportsmen all my life. When my spouse was an Army Reserve commander of an Engineering unit in Wisconsin, he used to have to move the drill meeting date whenever the hunting season arrived. If he didn't, despite it being AWOL (absent without leave) and an Article 15 offense (legal punishment) noone would show up for work! It was experiences like this that helped me understand the sportsmen's mindset.
Quabbin Weather
What is the weather in the Quabbin area like? Real would be my first answer. For instance, the calendar says it is officially spring right now, but it doesn't feel like it to me. Right now it is snowing hard and we expect three inches today. So while spring was looking promising yesterday it isn't today. Yesterday the two feet of snow in my front yard was visibly melting and more and more ground was visible. This felt great to watch. But awakening this morning, the huge, fluffy flakes were beautiful, but we've had enough. This has been a long, snowy winter and I am ready for spring rain.
On the other hand, I'm from California so living where it snows all winter is actually fun for me, provided I don't have to be somewhere when the roads haven't yet been cleared. I've lived in places where there are no real seasons (like CA, WA) and I've lived in places that have two seasons too hot and perfection (GA) and places that have four seasons (NY, WI, MO, MA). My spouse is from Massachusetts; he loves it here and plans to stay here forever. He's home. As for me, home is where my spouse is. But I admit I am more than ready for our hot, muggy summer in New England.
On the other hand, I'm from California so living where it snows all winter is actually fun for me, provided I don't have to be somewhere when the roads haven't yet been cleared. I've lived in places where there are no real seasons (like CA, WA) and I've lived in places that have two seasons too hot and perfection (GA) and places that have four seasons (NY, WI, MO, MA). My spouse is from Massachusetts; he loves it here and plans to stay here forever. He's home. As for me, home is where my spouse is. But I admit I am more than ready for our hot, muggy summer in New England.
Thursday, March 27, 2008
Alternative Minimum Tax
Will buying a pricier home always mean bigger mortgage interest write-offs on your taxes? No. Case in point is the alternative minimum tax; for some high-income taxpayers, the alternative minimum tax might wipe out some or all tax savings they'd receive from buying an expensive home. This can mean that if your rent is low and your income is high, you may be better off continuing to rent, rather than buying an expensive home. Talk to your tax expert about your situation.
Of course, taxes aren't the only reason to own a home. Security of knowing you can never be forced out (if you pay your taxes and pay off your mortgage), the ability to alter your home's appearance (as long as your changes are within zoning and building code and permit laws), and pride of saying you own your home are among the many reasons, in addition to the tax reasons, to buy or not to buy a home.
Of course, taxes aren't the only reason to own a home. Security of knowing you can never be forced out (if you pay your taxes and pay off your mortgage), the ability to alter your home's appearance (as long as your changes are within zoning and building code and permit laws), and pride of saying you own your home are among the many reasons, in addition to the tax reasons, to buy or not to buy a home.
Quabbin Reservoir
What is the Quabbin reservoir? The Quabbin reservoir is one of the largest man-made water supplies in the US. It provides water to two-million Boston and north shore residents. The Quabbin was built between 1930 and 1939. The Quabbin is fed by the Swift and the Ware rivers. It has an average depth of 51 feet. It submerged 60 hills and mountains and four towns. The four towns are Greenwich, Dana, Prescott, and Enfield. The Quabbin has 181 miles of shoreline and is 18 miles long.
The Quabbin reservoir is surrounded by wooded watershed. There are gates leading into the the watershed all around. A few gates are open occasionally for fishing or hunting purposes only. Massachusetts has a lottery where the winner is allowed to hunt certain critters in certain seasons with certain types of weapons. There are two gates I can think of that have marinas for fishing, gates 15 and 31. Gate 31 actually sells the fishing license and rents the fishing boat. Gate 15 is between New Salem and Shutesbury, on the west side of the water, off of MA-202. Gate 31 is on the north side of the water, off of MA-122.
There are strict rules on what and who can enter these gates. Anyone can enter, but there are no pets allowed and no skis. Walking and snowshoes are allowed at gates only. No entry is allowed to anyone, other than hunters, where no gate is present.
If you aren't into walking, there are two places where you can view the water from your car. One is on MA-202 near Amherst Road, in Pelham. There are excellent views of the water and the mountains beyond. We saw a bald eagle here last year. The second place is in Belchertown, at the south end of the water, off of MA-9. This is the dam and spillway and visitor's center. Hike the dam if you have the energy. There is also a park here for hiking and an excellent drive through the park and several overlooks along that drive.
I often walk gate 29. It is down hill for 45 minutes, to the water or up to Rattlesnake Hill and then another 45 minutes back to the car. There is plenty of parking and wildlife can be seen in the morning and evenings.
Bicycling is allowed at only a few gates, gate 29 is one of them. There is also another gate on the east side, but I can't remember the number. You can get a map and rules from the visitor's center on the south end of the water. That is quite a long walk, so riding is more enjoyable at that gate.
During some seasons there are outhouses available at some gates and there are two real restrooms at the visitors center, one outside, built into the retaining wall and one inside the visitor's center. During the season when the 1794 Meeting house, in New Salem is hosting musical performances, there is an outhouse next to that on the town common. And the New Salem town hall is available to those in need on Monday evenings from 6pm to 9pm and on Wednesday mornings between 9am and 11 am.
The New Salem library is brand new, so check it out. The town has wifi so you can log on here if you have a need to connect.
And while you are in New Salem, check out the lookout where you can see the water with only a short walk from your vehicle. Motorcycles often check out this view when they need a break from riding. From MA-202 just turn toward the town center, then left from South Main Street, at the volunteer fire station and drive to the end parking lot, where the rough dirt road ends. The trail continues until you see the water while sitting at the picnic table.
The closest walk to the water's edge is on the north end. Can't remember the gate number, but it might be the one with the women's forest sign on MA-122. If you park and go right at the fort and pass under the power wires and keep left at the second fork, the water will be visible shortly. Just be careful of poison ivy, it is everywhere. Tip: You can easily get rid of poison ivy quickly. Just buy the $40 a tiny tube from any drug store and use it according to the directions, and the rash will be all but gone the next day. It provides instant relief. A friend told me about this and I tried it, it works!
The ride around the Quabbin is lengthy. It goes from MA-202 to MA-122 to MA-32 to MA32A to MA-9 and back to MA-202 again. Stop in at the Quabbin Woods Restaurant in Petersham for something to eat or drink. The New Salem General Store has everything except restrooms, even a full-service deli and video rentals. There is a terrific farm stand in Granby. But Granby isn't on the loop. From MA-202 you'd normally turn onto or from MA-9 to stay on the loop. But if detouring to Granby's farmstand, you stay south on MA-202. At the intersection of MA-202 and MA-2 (also just outside of the loop, just continue north on MA-202 instead of turning onto MA-122) there is a Dunkin Donuts (with a bathroom), fast food, ice cream at the 202 Grill (also with a bathroom) and mini golf, batting cages, driving range, go-carts and indoor and outdoor hockey rinks. Lots of things to keep kids of all ages entertained in a safe, small-town environment.
The Quabbin loop is very popular with tourists looking to enjoy the fall color. Peak season is usually in late September or early October. At that time and all summer long, the roads in the area are busier than usual with motorcycles, sometimes enmasse, so look twice!
I have seen wildlife everywhere, but few deer. I've heard we have moose here but have yet to see one. I often see wild turkeys, blue jays, little brown and gray birds, a porcupine, snakes, red efts, spring peeper frogs, snapping turtles, slider turtles, toads, wasps, lady bugs (en masse, even in my home), newts, fish, and other bugs.
Kayaking is not allowed on the Quabbin, but there are plenty of other places to kayak and swim. Lake Mattawa in Orange is free and has an outhouse in the summer and Lake Wyola in Locks Village has life guards and bathrooms but charges an entrance fee. The best place to kayak is above Athol, near Royalston, at Lake Tully (there are bathrooms here). There is also a camp ground here and a waterfall and hiking. The campground rents kayaks you can then launch right into the water without lugging them in your vehicle. But if lugging isn't a problem, there are lots of area businesses who will rent you a kayak.
The Quabbin reservoir is surrounded by wooded watershed. There are gates leading into the the watershed all around. A few gates are open occasionally for fishing or hunting purposes only. Massachusetts has a lottery where the winner is allowed to hunt certain critters in certain seasons with certain types of weapons. There are two gates I can think of that have marinas for fishing, gates 15 and 31. Gate 31 actually sells the fishing license and rents the fishing boat. Gate 15 is between New Salem and Shutesbury, on the west side of the water, off of MA-202. Gate 31 is on the north side of the water, off of MA-122.
There are strict rules on what and who can enter these gates. Anyone can enter, but there are no pets allowed and no skis. Walking and snowshoes are allowed at gates only. No entry is allowed to anyone, other than hunters, where no gate is present.
If you aren't into walking, there are two places where you can view the water from your car. One is on MA-202 near Amherst Road, in Pelham. There are excellent views of the water and the mountains beyond. We saw a bald eagle here last year. The second place is in Belchertown, at the south end of the water, off of MA-9. This is the dam and spillway and visitor's center. Hike the dam if you have the energy. There is also a park here for hiking and an excellent drive through the park and several overlooks along that drive.
I often walk gate 29. It is down hill for 45 minutes, to the water or up to Rattlesnake Hill and then another 45 minutes back to the car. There is plenty of parking and wildlife can be seen in the morning and evenings.
Bicycling is allowed at only a few gates, gate 29 is one of them. There is also another gate on the east side, but I can't remember the number. You can get a map and rules from the visitor's center on the south end of the water. That is quite a long walk, so riding is more enjoyable at that gate.
During some seasons there are outhouses available at some gates and there are two real restrooms at the visitors center, one outside, built into the retaining wall and one inside the visitor's center. During the season when the 1794 Meeting house, in New Salem is hosting musical performances, there is an outhouse next to that on the town common. And the New Salem town hall is available to those in need on Monday evenings from 6pm to 9pm and on Wednesday mornings between 9am and 11 am.
The New Salem library is brand new, so check it out. The town has wifi so you can log on here if you have a need to connect.
And while you are in New Salem, check out the lookout where you can see the water with only a short walk from your vehicle. Motorcycles often check out this view when they need a break from riding. From MA-202 just turn toward the town center, then left from South Main Street, at the volunteer fire station and drive to the end parking lot, where the rough dirt road ends. The trail continues until you see the water while sitting at the picnic table.
The closest walk to the water's edge is on the north end. Can't remember the gate number, but it might be the one with the women's forest sign on MA-122. If you park and go right at the fort and pass under the power wires and keep left at the second fork, the water will be visible shortly. Just be careful of poison ivy, it is everywhere. Tip: You can easily get rid of poison ivy quickly. Just buy the $40 a tiny tube from any drug store and use it according to the directions, and the rash will be all but gone the next day. It provides instant relief. A friend told me about this and I tried it, it works!
The ride around the Quabbin is lengthy. It goes from MA-202 to MA-122 to MA-32 to MA32A to MA-9 and back to MA-202 again. Stop in at the Quabbin Woods Restaurant in Petersham for something to eat or drink. The New Salem General Store has everything except restrooms, even a full-service deli and video rentals. There is a terrific farm stand in Granby. But Granby isn't on the loop. From MA-202 you'd normally turn onto or from MA-9 to stay on the loop. But if detouring to Granby's farmstand, you stay south on MA-202. At the intersection of MA-202 and MA-2 (also just outside of the loop, just continue north on MA-202 instead of turning onto MA-122) there is a Dunkin Donuts (with a bathroom), fast food, ice cream at the 202 Grill (also with a bathroom) and mini golf, batting cages, driving range, go-carts and indoor and outdoor hockey rinks. Lots of things to keep kids of all ages entertained in a safe, small-town environment.
The Quabbin loop is very popular with tourists looking to enjoy the fall color. Peak season is usually in late September or early October. At that time and all summer long, the roads in the area are busier than usual with motorcycles, sometimes enmasse, so look twice!
I have seen wildlife everywhere, but few deer. I've heard we have moose here but have yet to see one. I often see wild turkeys, blue jays, little brown and gray birds, a porcupine, snakes, red efts, spring peeper frogs, snapping turtles, slider turtles, toads, wasps, lady bugs (en masse, even in my home), newts, fish, and other bugs.
Kayaking is not allowed on the Quabbin, but there are plenty of other places to kayak and swim. Lake Mattawa in Orange is free and has an outhouse in the summer and Lake Wyola in Locks Village has life guards and bathrooms but charges an entrance fee. The best place to kayak is above Athol, near Royalston, at Lake Tully (there are bathrooms here). There is also a camp ground here and a waterfall and hiking. The campground rents kayaks you can then launch right into the water without lugging them in your vehicle. But if lugging isn't a problem, there are lots of area businesses who will rent you a kayak.
Franklin County, Massachusetts
What is there to know about Franklin county? Franklin county is the least populated county in Massachusetts. There is no county government in Franklin county. Instead, the county's cities and towns have joined together and created Franklin Regional Council of Governments (FRCOG). So if you wish to look for county jobs online, and you type in Franklin county jobs, you will be re-directed to FRCOG. FRCOG has a webpage if you wish to know specifics. They publish online a list of all their client's jobs and what they pay. Not sure if the public has access to this information or if you must request it from a member town. I am on several town boards. One of those boards is now in the middle of evaluating pay scales for its employees. So I have this information if anyone has a question about town pay scales in Franklin county and you can't find it online.
Why is Franklin county the least populated county in Massachusetts? One reason is because it is just a little too far from all the major cities for commute purposes. Boston is 72 miles away from the Quabbin. Springfield and Worcester are doable if an hour plus commute works for you. A second reason is that the Quabbin reservoir is located in several counties. These counties are Franklin, Worcester, and Hampshire. The Quabbin takes up vast amount of land and that land is protected for many miles away from the shoreline. This is to protect the drinking water. This water is not drunk by local residents. Local residents have wells on their property. Quabbin water is for two-million Boston and north shore residents.
Greenfield, Massachusetts is where FRCOG is located. Other towns in Franklin county that come to mind: New Salem, Orange, Shutesbury, Wendell, Warwick, Montague, Turners Falls, Irving, and Locks Village.
You can find more business information by checking out the North Quabbin Chamber of Commerce webpage.
Why is Franklin county the least populated county in Massachusetts? One reason is because it is just a little too far from all the major cities for commute purposes. Boston is 72 miles away from the Quabbin. Springfield and Worcester are doable if an hour plus commute works for you. A second reason is that the Quabbin reservoir is located in several counties. These counties are Franklin, Worcester, and Hampshire. The Quabbin takes up vast amount of land and that land is protected for many miles away from the shoreline. This is to protect the drinking water. This water is not drunk by local residents. Local residents have wells on their property. Quabbin water is for two-million Boston and north shore residents.
Greenfield, Massachusetts is where FRCOG is located. Other towns in Franklin county that come to mind: New Salem, Orange, Shutesbury, Wendell, Warwick, Montague, Turners Falls, Irving, and Locks Village.
You can find more business information by checking out the North Quabbin Chamber of Commerce webpage.
Wednesday, March 26, 2008
Quabbin Towns
What towns are in the Quabbin area? The Quabbin reservoir is located in the exact center of Massachusetts. On the north end of the Quabbin is Orange, Athol, and New Salem. To the west is Shutesbury, Wendell and Pelham. To the south is Belchertown. To the east is Petersham. All of these towns are very small. Finding services in these towns can be challenging. It is easy to drive to a larger town (like Amherst, Greenfield, Gardner or Northampton or even Springfield) but when you live in one of these towns, doing business locally gets easier, if you get to know people. E-mail me at gcejones@yahoo.com and I'll help you find whatever business or service you're looking for.
Online video tour of listings
Does your real estate agent provide your for sale home with an online video tour? An online video tour is where buyers can go online and when in your listing, can click on a picture of all the best features of your home. They can point to any part of the room and the camera pans to that area. Some buyers use this feature to buy homes they haven't even seen in person. If your agent doesn't offer this service, when your listing with them expires, call me! I provide this complementary service to my clients who have a home listed for sale with me.
Tuesday, March 25, 2008
Realtor.com
Why should you care if your real estate agent pays to be listed on realtor.com? Here's why: I've personally bought and sold seven homes over the years. The most recent sale was listed with an agent from Remax. I kept going onto realtor.com to see how my home for sale compared to others in the area. I could see if my home was priced too high or too low. But I could also put in search parameters to see if all the features of my home were listed correctly. I put all the features my home had into an advanced search on realtor.com. I added things like cul-de-sac, fireplace, four bedrooms, two and a 1/2 bath, two-car garage, dining room, family room, golf and swimming in the area. And the search returned my home as having only 74% of those things. My home had 100% of those things. So I called my realtor and he said "nobody uses realtor.com anymore, I use my own website." So, being the loyal customer, I used lots of searches to find my home on his website. I was unsuccessful in locating it until I called my realtor back and asked him the exact site name. What use is that for others looking to find my home online? It turned out my home was on realtor.com from the multiple listing service. But that since my realtor didn't pay for the ability to correct the listing's errors, my realtor could do nothing to bring the correct statistics to my listing on realtor.com. I was furious! Lesson-learned: list your home for sale with me, I pay realtor.com for the right to have my listings 100% accurate on realtor.com. I do this for you, my customers. I never want my customers to experience what I learned the hard way.
Prudential Real Estate Advantage
Why should I hire a real estate agent from Prudential? Because Prudential has the power and resources and the tools to ensure their nationwide network is utilized by local professionals to your best advantage, here's why.
1. Prudential is way ahead of its competitors in online networking. If you click on Yahoo, Zillow, Cyberhomes, and a whole bunch of other online real estate sites, you will be routed to a local Prudential office. So if you are a buyer or a seller, your needs have a much higher chance of being met. In otherwords, are you willing to risk hiring a real estate agent from another agency with lesser resources to bring to bear in your favor?
2. Prudential has online buyers advantage and online sellers advantage. These are special programs designed with your needs in mind. Online sellers advantage provides you with statistics on what's for sale in your area and what it costs and how many people are looking at it. This information is e-mailed to my customers regularly. This is vital information to know for both buyers and sellers. If you are a buyer, you will know the latest statistics to help you offer the right amount. If you are a seller, it will help you see who is looking at your house and who is looking at another area house and why. What seller doesn't want this vital information e-mailed to them regularly?
3. Prudential real estate agents have online training offered exclusively to their network agents. I am currently taking the online e-pro course. These courses are updated constantly and new courses are added periodically. If you hire an agent from another firm, are they trained on the latest marketing techniques?
With all these resources available to Prudential Sawicki's customers, what buyer or seller would hire a competitor? Our competitors have none of Prudential's advantages. Why would you hire someone with inferior resources?
1. Prudential is way ahead of its competitors in online networking. If you click on Yahoo, Zillow, Cyberhomes, and a whole bunch of other online real estate sites, you will be routed to a local Prudential office. So if you are a buyer or a seller, your needs have a much higher chance of being met. In otherwords, are you willing to risk hiring a real estate agent from another agency with lesser resources to bring to bear in your favor?
2. Prudential has online buyers advantage and online sellers advantage. These are special programs designed with your needs in mind. Online sellers advantage provides you with statistics on what's for sale in your area and what it costs and how many people are looking at it. This information is e-mailed to my customers regularly. This is vital information to know for both buyers and sellers. If you are a buyer, you will know the latest statistics to help you offer the right amount. If you are a seller, it will help you see who is looking at your house and who is looking at another area house and why. What seller doesn't want this vital information e-mailed to them regularly?
3. Prudential real estate agents have online training offered exclusively to their network agents. I am currently taking the online e-pro course. These courses are updated constantly and new courses are added periodically. If you hire an agent from another firm, are they trained on the latest marketing techniques?
With all these resources available to Prudential Sawicki's customers, what buyer or seller would hire a competitor? Our competitors have none of Prudential's advantages. Why would you hire someone with inferior resources?
Monday, March 24, 2008
Down Payment Sources
Can you give me some ideas on how to obtain the needed funds to pay the down-payment?
1. You don't always need any cash to buy a home. For example
a. If you qualify for a VA loan and if the price of the home you wish to purchase is below the maximum allowed, no money down is required, if you write into the contract that the seller pay the closing costs (but you will need to come up with, in the short-term, earnest money)
b. Also, if you have excellent FICO scores, you may qualify for two loans that equal 100% financing with no primary mortgage insurance requirement.
2. Savings Tip:
a. Closing costs can be 3% to 6% of the cost of the home, and many brokers require 5% to 10% earnest money down in two up-front payments when the offer is made (before financing is obtained);
b. Plus 20% of the cost of the home will need to come from savings, so you will finance 80% of the cost.
c. Total savings required can be 26% of the cost of the home. For example, for a $100,000 home you'd need $26,000 in savings to equal 26%.
d. Some loans allow 97% financing - be sure to ask if you qualify if 20% is in the too-hard-to-do category.
3. Proceeds from the sale of a home
4. Parents (gifts, loans, pre-inheritance, borrow against the equity in their home)
5. Borrow from a 401-K or company plan
6. Borrow against your insurance
7. city-county, state or federal low-income housing loans or first-time buyer loans
8. private investor you buy out later.
1. You don't always need any cash to buy a home. For example
a. If you qualify for a VA loan and if the price of the home you wish to purchase is below the maximum allowed, no money down is required, if you write into the contract that the seller pay the closing costs (but you will need to come up with, in the short-term, earnest money)
b. Also, if you have excellent FICO scores, you may qualify for two loans that equal 100% financing with no primary mortgage insurance requirement.
2. Savings Tip:
a. Closing costs can be 3% to 6% of the cost of the home, and many brokers require 5% to 10% earnest money down in two up-front payments when the offer is made (before financing is obtained);
b. Plus 20% of the cost of the home will need to come from savings, so you will finance 80% of the cost.
c. Total savings required can be 26% of the cost of the home. For example, for a $100,000 home you'd need $26,000 in savings to equal 26%.
d. Some loans allow 97% financing - be sure to ask if you qualify if 20% is in the too-hard-to-do category.
3. Proceeds from the sale of a home
4. Parents (gifts, loans, pre-inheritance, borrow against the equity in their home)
5. Borrow from a 401-K or company plan
6. Borrow against your insurance
7. city-county, state or federal low-income housing loans or first-time buyer loans
8. private investor you buy out later.
Early Mortgage Payoff
Should I payoff my mortgage early? By all means. Won't that eliminate my tax advantages? Not enough to matter compared to the savings paid on interest and piece of mind. If you have a 30-year fixed-rate mortgage and you have been making payments on that mortgage for more than 10 years, then you aren't getting as big a tax advantage as you received the first few years of paying on that mortgage. Why is that? Because the amount of interest you pay each month is greater when a loan is new. Then as the years go by, you are paying more and more principle each month and less and less interest each month. So by paying off your mortgage early you are not hurting yourself tax-wise. Tip: Be sure to specify the extra dollars be put toward principle. If you do not say this, then interest will be paid first, and the rest put toward principle.
Want an even smarter idea? Pay extra principle as often as possible in the early years of a loan. Then you will pay less interest. And as I said previously, you pay more interest in the early years. So by shaving years off a loan, you also shave off interest. Most experts recommend making at least an extra mortgage payment each year. If you do this you will save thousands of dollars over the life of the loan. I am not an attorney or an accountant, seek the advise of the right expert for your specific situation.
Want an even smarter idea? Pay extra principle as often as possible in the early years of a loan. Then you will pay less interest. And as I said previously, you pay more interest in the early years. So by shaving years off a loan, you also shave off interest. Most experts recommend making at least an extra mortgage payment each year. If you do this you will save thousands of dollars over the life of the loan. I am not an attorney or an accountant, seek the advise of the right expert for your specific situation.
Sunday, March 23, 2008
Price
How will I know the price of a home is correct? By inviting me to present you with a comparative market analysis (CMA). A CMA should be used when you are selling your home and when you buy a home. Never put an offer to buy a home without a current CMA. And not all CMA's are alike. Weight should be given to homes that are under deposit over homes that are currently listed for sale and homes that have recently sold. The under deposit homes will provide the best understanding of market conditions right now, here's why. Homes that are under deposit have just sold. They are homes that are the most current indicator of how buyers value the available inventory right now.
Homes that are for sale are valued according to how the seller values her home. A for sale home might be priced correctly. You'll only know by having me provide you with a CMA. And just any CMA from just any realtor is not the same as a CMA I'll provide to you.
A CMA from me will be honest. I will not buy your business. What does buy your business mean? Buying your business means I provide you with a CMA that is technically accurate but higher than the most-likely buyers would be willing to pay. In Amherst, Prudential Sawicki's major competitor is often accused of buying their listings. Listings are homes for sale through a real estate company. Some real estate companies buy your listing by encouraging the seller to price their home for sale for a higher price than the market will bear.
How will you know what the market will bear? The goal of pricing a home for sale is to price the home at the highest price the market will bear but not so high that buyers will not bother to submit offers. If there are no showings immediately, the price is too high, assuming the marketing is targeted to the right buyers. If showings slow down to a trickle, you might want to find out what the problem is. The problem may be an easy fix, like removing personal items and packing them away. You will be moving soon, hopefully, anyway, right? Why not get an early start and put money in your pocket sooner by a quick sale.
A second indicator of price is how the seller would feel if he listed his home for sale and it sold the next day. Would that make the seller happy he could now start his search for a new home or would it make him feel he priced the home too low? If a quick sale would make you angry, price the home on the high-end of the range indicated by the CMA. But if a quick sale is urgent, price the home on the low-end of the CMA range. Either way, if there are no offers after eight to ten showings or no showings, don't do nothing and hope for the best. Determine why!
I am an expert at determining why a home hasn't sold. Call me. I will tour your home and pass on my expertise to you. It may be that there are things you can't change. For example, you can't change the location of your home. Things you can't change are: busy street, power-wires overhead, town dump next door, past death in the home, neighborhood not up to par. There is nothing the seller can do to change these material facts about their home. If these conditions are present in a home a buyer and a seller need to be sure the price reflects these issues. A seller hopefully bought the home at a low enough price that she can sell it in future. A buyer will, most-likely, discount the amount they offer on a home with these issues present. Some buyers will avoid properties with these issues all-together. Sellers must consider these issues when pricing their home for sale. These issues require special marketing to be sure buyers aren't disappointed at the showing. Tip: Never over-sell a property. You always want the buyer to be pleasantly surprised.
Should I buy a home with the above type issues? If you do not care about the issues, and they aren't a problem for you, then yes, make a low offer. But if you will one day need to sell the property and could then be a problem finding a buyer for your home, maybe you need to make a very low offer to reflect these issues or maybe look elsewhere for a home to buy. But if you will live there forever and have no heirs to consider, go for it. That property may be just right for you.
Is there a buyer for all properties? Definitely. It is my job to find them via targeted marketing and then via negotiating a deal that is a win-win for my clients. And then husbanding the process carefully to a successful close, my job even then isn't done. I'll be there for you forever. My goal is to have ecstatic clients for life. That means I want to be your realtor every time you buy or sell. I want you to call me when you know someone who is buying or selling real estate, even if they live outside the area. I want you to call me because you know I will give your friends and family and co-workers the same professional service I provided you. You know you can trust me with your contacs. You can safely link your name with mine. I know you will only trust me with your referrals if you trust me yourself. Your trust is valuable to me. I will do everything ethical to earn your trust. I want to be there for you. I will ensure that your real estate experience is as stressless as possible.
In order to ensure your stressless real estate experience, my service to you includes anything legal and ethical you need. Need to know what utility/technology/services your new home has? Where's the greatest coffee? Best restaurants? Professional services? Shopping? Need to talk to someone who is happy you called? Just ask.
How will you know if your home is priced too high? If you do not receive an offer after eight to ten showings, then it might be time to lower the price. Of course, there may be other reasons for no offers. The home might need repairs, updating, staging, cleaning, a pet removed, a collection packed up, less furniture, distractions to buyers removed, different paint colors, different marketing. There are any number of reasons why showings don't produce offers. If you would like help to get your home in optimum condition to attract buyers, call me. I would love to help you make your home as attractive to buyers as possible.
Does your current realtor do all of the above every 30 days? If not, call 978-846-7398. You'll be happy you called. I can help you now, even if your current listing hasn't expired. Immediately we can discuss what I'll be able to do for you the day after your current listing with another agency expires.
Homes that are for sale are valued according to how the seller values her home. A for sale home might be priced correctly. You'll only know by having me provide you with a CMA. And just any CMA from just any realtor is not the same as a CMA I'll provide to you.
A CMA from me will be honest. I will not buy your business. What does buy your business mean? Buying your business means I provide you with a CMA that is technically accurate but higher than the most-likely buyers would be willing to pay. In Amherst, Prudential Sawicki's major competitor is often accused of buying their listings. Listings are homes for sale through a real estate company. Some real estate companies buy your listing by encouraging the seller to price their home for sale for a higher price than the market will bear.
How will you know what the market will bear? The goal of pricing a home for sale is to price the home at the highest price the market will bear but not so high that buyers will not bother to submit offers. If there are no showings immediately, the price is too high, assuming the marketing is targeted to the right buyers. If showings slow down to a trickle, you might want to find out what the problem is. The problem may be an easy fix, like removing personal items and packing them away. You will be moving soon, hopefully, anyway, right? Why not get an early start and put money in your pocket sooner by a quick sale.
A second indicator of price is how the seller would feel if he listed his home for sale and it sold the next day. Would that make the seller happy he could now start his search for a new home or would it make him feel he priced the home too low? If a quick sale would make you angry, price the home on the high-end of the range indicated by the CMA. But if a quick sale is urgent, price the home on the low-end of the CMA range. Either way, if there are no offers after eight to ten showings or no showings, don't do nothing and hope for the best. Determine why!
I am an expert at determining why a home hasn't sold. Call me. I will tour your home and pass on my expertise to you. It may be that there are things you can't change. For example, you can't change the location of your home. Things you can't change are: busy street, power-wires overhead, town dump next door, past death in the home, neighborhood not up to par. There is nothing the seller can do to change these material facts about their home. If these conditions are present in a home a buyer and a seller need to be sure the price reflects these issues. A seller hopefully bought the home at a low enough price that she can sell it in future. A buyer will, most-likely, discount the amount they offer on a home with these issues present. Some buyers will avoid properties with these issues all-together. Sellers must consider these issues when pricing their home for sale. These issues require special marketing to be sure buyers aren't disappointed at the showing. Tip: Never over-sell a property. You always want the buyer to be pleasantly surprised.
Should I buy a home with the above type issues? If you do not care about the issues, and they aren't a problem for you, then yes, make a low offer. But if you will one day need to sell the property and could then be a problem finding a buyer for your home, maybe you need to make a very low offer to reflect these issues or maybe look elsewhere for a home to buy. But if you will live there forever and have no heirs to consider, go for it. That property may be just right for you.
Is there a buyer for all properties? Definitely. It is my job to find them via targeted marketing and then via negotiating a deal that is a win-win for my clients. And then husbanding the process carefully to a successful close, my job even then isn't done. I'll be there for you forever. My goal is to have ecstatic clients for life. That means I want to be your realtor every time you buy or sell. I want you to call me when you know someone who is buying or selling real estate, even if they live outside the area. I want you to call me because you know I will give your friends and family and co-workers the same professional service I provided you. You know you can trust me with your contacs. You can safely link your name with mine. I know you will only trust me with your referrals if you trust me yourself. Your trust is valuable to me. I will do everything ethical to earn your trust. I want to be there for you. I will ensure that your real estate experience is as stressless as possible.
In order to ensure your stressless real estate experience, my service to you includes anything legal and ethical you need. Need to know what utility/technology/services your new home has? Where's the greatest coffee? Best restaurants? Professional services? Shopping? Need to talk to someone who is happy you called? Just ask.
How will you know if your home is priced too high? If you do not receive an offer after eight to ten showings, then it might be time to lower the price. Of course, there may be other reasons for no offers. The home might need repairs, updating, staging, cleaning, a pet removed, a collection packed up, less furniture, distractions to buyers removed, different paint colors, different marketing. There are any number of reasons why showings don't produce offers. If you would like help to get your home in optimum condition to attract buyers, call me. I would love to help you make your home as attractive to buyers as possible.
Does your current realtor do all of the above every 30 days? If not, call 978-846-7398. You'll be happy you called. I can help you now, even if your current listing hasn't expired. Immediately we can discuss what I'll be able to do for you the day after your current listing with another agency expires.
Saturday, March 22, 2008
Primary Mortgage Insurance
What is private mortgage insurance (PMI)? Private mortgage insurance is mandatory for most mortgage loans that are 80% or higher of the home's appraised value. If you borrow 81% to 100% of a home's appraised value, you will most-likely be required, by the lender, to pay private mortgage insurance. The cost of PMI is several hundred dollars on a $185,000 loan. For example, if your mortgage is $1,500/month PITI*, it would be $1,700/month with PMI. And PMI only helps the lender. For example, if you don't pay the mortgage, PMI pays the lender. It is mortgage insurance to reduce the risk the lender takes, PMI minimizes the lender's loss. You pay the premiums on this insurance policy that only protects the lender. It is lender insurance. It is possible for a borrower to purchase PMI for himself, but that isn't usually affordable for most borrowers. I once paid PMI on a loan. When I called the lender to ask for an appraisal on my property to prove the property had appreciated sufficiently that PMI could be eliminated. I no longer owed less than 80% of the home's value and could now stop paying for this insurance. The lender said it didn't work that way. The lender said I'd have to pay down 80% of my loan. The lender didn't care that my home was now worth $230,000 and that my loan was for $185,000. For example, if I owed $100,000 on a loan, I'd have to pay that loan down to a balance of $80,000 before I could apply to my mortgage holder to cancel the PMI. Needless-to-say I quickly re-financed with my credit union. My credit union agreed to give me a loan with no points* and no PMI and no closing costs***. That was years ago so that deal might not exist today. But the lesson-learned remains forever. Never again will I agree to pay PMI if I have other options. I value my money too highly to throw it away.
*PITI means: principle, interest, taxes, insurance = these things together comprise your mortgage payment
**Points are a percentage of the loan paid to the lender, by the borrower, as a cost of the loan. For example: If a loan costs two points, this means 2% is paid to the lender, by the borrower, for every $1,000 borrowed. For example, if you borrow $100,000 and pay two points you will pay $2,000 in points
***Closing costs are loan origination fees, credit report fees, employment verification fees. They can also be title fees, recording fees, lawyer fees, realtor commissions, prorated items (insurance, taxes), mortgage pay-off and lien pay-off
*PITI means: principle, interest, taxes, insurance = these things together comprise your mortgage payment
**Points are a percentage of the loan paid to the lender, by the borrower, as a cost of the loan. For example: If a loan costs two points, this means 2% is paid to the lender, by the borrower, for every $1,000 borrowed. For example, if you borrow $100,000 and pay two points you will pay $2,000 in points
***Closing costs are loan origination fees, credit report fees, employment verification fees. They can also be title fees, recording fees, lawyer fees, realtor commissions, prorated items (insurance, taxes), mortgage pay-off and lien pay-off
Technology
Is high-speed internet access available everywhere in the Quabbin area? Not always. It is available in the urban areas, but not in some of the smaller hill towns. The solution is to buy a wireless internet USB. This allows you to live where you like and not have to worry about hard-wired services. The same is true of cable tv. Cable tv is not offered in the smaller hill towns. I use a satellite service to provide my television needs, called Directv. There is a second satellite service that offers internet access, also, called Hughes Net. I just don't choose to use it as I feel it is too pricey. The nice thing about the USB internet is that it works for every computer I use. I use a personal computer at home and a laptop at my office. The USB internet works for both.
As a customer, can I expect my realtor to return my call or e-mail within a few hours? Of course you can! I have a cell phone with e-mail capability. I also have a laptop with remote internet access. This means that I am available to my customers even when I'm on the road all day. I'm very excited about these two new-to-me capabilities. I live in an area that does not have high-speed internet available, so dial-up is what I've been living with for the past three years. I told this to the clerk who was helping me get e-mail access added onto my cell phone the other day. She immediately showed me a USB that plugs into my laptop computer and gives me internet access with no wires! I bought it. That changed my life. I no longer wait forever for mapquest to load maps and directions, for instance.
So if your realtor isn't available to you at your convenience, call me. I'll be there for you.
As a customer, can I expect my realtor to return my call or e-mail within a few hours? Of course you can! I have a cell phone with e-mail capability. I also have a laptop with remote internet access. This means that I am available to my customers even when I'm on the road all day. I'm very excited about these two new-to-me capabilities. I live in an area that does not have high-speed internet available, so dial-up is what I've been living with for the past three years. I told this to the clerk who was helping me get e-mail access added onto my cell phone the other day. She immediately showed me a USB that plugs into my laptop computer and gives me internet access with no wires! I bought it. That changed my life. I no longer wait forever for mapquest to load maps and directions, for instance.
So if your realtor isn't available to you at your convenience, call me. I'll be there for you.
Friday, March 21, 2008
Home Prices and Creating Extra Living Space
Home prices in the Quabbin area are stable. Just this week, in the National Association of Realtors magazine, an article showed the median prices of area homes, by county. The news was good! Why isn't this news reflected in the national media? Because they are not local. All real estate must be evaluated locally, not nationally. The article said Quabbin area prices are only slightly lower in some areas, like Franklin county. But the good news is that prices in one local county actually rose! That means home prices for those who want to buy or sell their home will, on average, pay or receive slightly more money this quarter than they would have in the previous quarter. That’s great news! It means things are ok, the sky is not falling. It tells me that if all other things in your life are aligned, then this is the time for you to buy or sell your home. If you have out-grown your home, buy a bigger one. The selection is unbelievable, better than it has been for years. But this only applies if you can afford the higher payments, if your job is stable, and your financial history is clean.
If the above factors are not the case, then maybe adding onto your current home might be a better solution for you. There are many ways to make your current home more livable. One way to utilize wasted space is to create more living space by better utilizing the un-used space around your home. Do you have a basement, garage, attic, super-high stairway ceiling or wide hallways? All these areas can be utilized to store things out of the way so you have more living space in the rooms you use every day. I can provide the name of a great contractor if you or your spouse don’t wish to do the work yourself, just ask!
If the above factors are not the case, then maybe adding onto your current home might be a better solution for you. There are many ways to make your current home more livable. One way to utilize wasted space is to create more living space by better utilizing the un-used space around your home. Do you have a basement, garage, attic, super-high stairway ceiling or wide hallways? All these areas can be utilized to store things out of the way so you have more living space in the rooms you use every day. I can provide the name of a great contractor if you or your spouse don’t wish to do the work yourself, just ask!
Wednesday, March 19, 2008
Community Service
How do realtors serve the community? For one, we help our neighbors fulfill their dreams by helping them buy their first home or buy into a larger or smaller home. We also help our neighbors by helping them sell the home they already own so they can move on with their goals in life.
We also help our community because real estate is local. We like to do business with people we know we can trust to do the job right. We do this because when there is a snag in the process, we know who to talk to to remove the snag. For instance, if our client requests a loan from a local bank, we know that mortgage officer. We know we can give him a call and say, Joe, what’s going on? And if there is a problem, Joe says, well, Cathy, its like this. You need to call your client and ask them to provide us with these three things. If that same client requests a loan from an online mortgage company, who would I call to resolve a snag?
When I provide a list of professionals to a client I’m linking my professional reputation to those names in my client’s eyes. I want my clients to see I am top notch. Because of this, I’m helping my community and here’s how. By helping my clients obtain the goods and services they need I am a community resource. If Sally calls George to build her garage because I provided Sally with George’s name and number, I’m keeping it local. That’s what all those bumper stickers are all about. Live, work and obtain your goods and services from local providers, your neighbors. This is one way to build a strong community.
Personally, I serve my community more directly, in addition. I also serve on two town boards. I was appointed by the town select board two years ago to serve my current term. I also am running for a position on the town planning board. The election is on the first Tuesday in May. When I was at the town dump a few weekends ago, four men declined to sign my nomination petition, they said “I don’t know you.” My first thought was “do you always know everyone you vote for personally?” I tried to convince them by asking them questions about their work and when one said “I’m a roofer” I said “oh, do you know Chris?” He said he did. I said I’d been speaking with Chris the evening before and that he was a friend of my spouse. It didn’t help, but I tried. Two women asked what political party I am. I told them, but, looking back, this being a non-partisan election, I shouldn’t have. Besides, knowing my party affiliation wouldn’t help much in my case anyway, in determining how I’d vote on the planning board. What is important for voters to know is that I’d vote to keep my hometown great. I’d have to know all the pros and cons of a certain issue before I’d be able to tell a voter exactly how I’d vote if I’m elected to the planning board. But I do know this: 1. I have a Master of Arts degree in public administration. This means I understand politics and administration and all the town issues from an academic perspective. 2. I live in my town. I like it as it is. I do not want to do anything that would make my town densely populated or raise my taxes or require the town provide more services. 3. I have been employed, in the past, as a federal agent investigator, a law-enforcement position. From that experience, I know all types of people, the good and the bad. It was my job to judge whether one person should receive a clearance to know our nation’s secrets or not. I think that experience makes me very qualified to make decisions based on what people say and also what their body language says. 4. I also have years and years of federal administrative experience. Because of this, I know how to make things happen, how to get past problems and keep the process moving to a conclusion. 5. I also grew up in a small family hardware store. My aunt still owns a small family health food store. I know how important business is to my neighbors. 6. I enlisted into the Navy Reserve and was willing to make the ultimate sacrifice for my country and was honorably discharged after my service was complete.
7. I am a full-time, professional realtor. I am trained to know about and work with and know planning issues well as part of my job. The reason I am running for the planning board is to serve my neighbors by shouldering some of the needs of town administration for a while, if they wish to have me do so by voting for me.
I mention all of my experience above, to illustrate two things: 1. How realtors serve their community and 2. To help those who are considering voting for me in May for the town planning board to understand what I stand for so they can make an informed decision when they vote.
We also help our community because real estate is local. We like to do business with people we know we can trust to do the job right. We do this because when there is a snag in the process, we know who to talk to to remove the snag. For instance, if our client requests a loan from a local bank, we know that mortgage officer. We know we can give him a call and say, Joe, what’s going on? And if there is a problem, Joe says, well, Cathy, its like this. You need to call your client and ask them to provide us with these three things. If that same client requests a loan from an online mortgage company, who would I call to resolve a snag?
When I provide a list of professionals to a client I’m linking my professional reputation to those names in my client’s eyes. I want my clients to see I am top notch. Because of this, I’m helping my community and here’s how. By helping my clients obtain the goods and services they need I am a community resource. If Sally calls George to build her garage because I provided Sally with George’s name and number, I’m keeping it local. That’s what all those bumper stickers are all about. Live, work and obtain your goods and services from local providers, your neighbors. This is one way to build a strong community.
Personally, I serve my community more directly, in addition. I also serve on two town boards. I was appointed by the town select board two years ago to serve my current term. I also am running for a position on the town planning board. The election is on the first Tuesday in May. When I was at the town dump a few weekends ago, four men declined to sign my nomination petition, they said “I don’t know you.” My first thought was “do you always know everyone you vote for personally?” I tried to convince them by asking them questions about their work and when one said “I’m a roofer” I said “oh, do you know Chris?” He said he did. I said I’d been speaking with Chris the evening before and that he was a friend of my spouse. It didn’t help, but I tried. Two women asked what political party I am. I told them, but, looking back, this being a non-partisan election, I shouldn’t have. Besides, knowing my party affiliation wouldn’t help much in my case anyway, in determining how I’d vote on the planning board. What is important for voters to know is that I’d vote to keep my hometown great. I’d have to know all the pros and cons of a certain issue before I’d be able to tell a voter exactly how I’d vote if I’m elected to the planning board. But I do know this: 1. I have a Master of Arts degree in public administration. This means I understand politics and administration and all the town issues from an academic perspective. 2. I live in my town. I like it as it is. I do not want to do anything that would make my town densely populated or raise my taxes or require the town provide more services. 3. I have been employed, in the past, as a federal agent investigator, a law-enforcement position. From that experience, I know all types of people, the good and the bad. It was my job to judge whether one person should receive a clearance to know our nation’s secrets or not. I think that experience makes me very qualified to make decisions based on what people say and also what their body language says. 4. I also have years and years of federal administrative experience. Because of this, I know how to make things happen, how to get past problems and keep the process moving to a conclusion. 5. I also grew up in a small family hardware store. My aunt still owns a small family health food store. I know how important business is to my neighbors. 6. I enlisted into the Navy Reserve and was willing to make the ultimate sacrifice for my country and was honorably discharged after my service was complete.
7. I am a full-time, professional realtor. I am trained to know about and work with and know planning issues well as part of my job. The reason I am running for the planning board is to serve my neighbors by shouldering some of the needs of town administration for a while, if they wish to have me do so by voting for me.
I mention all of my experience above, to illustrate two things: 1. How realtors serve their community and 2. To help those who are considering voting for me in May for the town planning board to understand what I stand for so they can make an informed decision when they vote.
Monday, March 17, 2008
Home Styles and Types of Home Ownership
Home styles:
Colonial - Colonial dates back to historical New England. The Garrison Colonial, New England Colonial, Dutch Colonial, Salt Box, Southern, and Modern Colonials are just a few of the various Colonial styles. A colonial home can be described as any house where the second floor living area is 100% of the first floor living area. The roof ridge runs parallel to the main road. Bedrooms are usually always on the second floor. The front entry door is normally near the center on the home. Windows are generally spaced evenly on both sides.
Cabin - I toured a cabin on Lake Wyola last month. It was very small but had lake frontage. You’ll pay about $50,000 more for water frontage, on average. This was basically one room of living area and very little else.
Country – Country isn’t always southern, though many think of the south when they think of country. I think of western as being very different than country. I’ve lived in the south three times over the years. And I’ve lived on the west coast and in the mid-west, too. Country, to me, is more feminine, more an attitude of designed casualness.
Luxury - Mc Mansions are out according to the articles I’ve read recently. My brother-in-law, who is a train book publisher and is active in the arts, agrees. He recently took me on a tour of Massachusetts. He kept saying, just look at those Mc Mansions. I said, what do you mean? He said, you know, those huge houses over there that are huge just for huge sake. They have no uniqueness, no style, no sophistication. He much prefers older homes that have been lovingly maintained or thoughtfully modernized or new homes made to fit into the neighborhood where they are built so buyers can’t tell they are new or at least, buyers think they were built to look like they belong there. His family likes to say “there’s no there there”. That means they wouldn’t ever live in a place that wasn’t identifiable as that place. If you go somewhere and it looks like anywhere USA, then that is not a desirable location.
Victorian - Think lots of detail; ornate; often very small rooms, unusual things like round rooms or tower rooms.
Cape cod – A cape often has a dining room in the center, back of the home, and a kitchen next to it in the front of the home. It often has dormered ceilings in the upstairs bedrooms and a good-sized eat-in kitchen.
Ranch - A ranch home is for someone who doesn’t want an upstairs. All rooms are on the main floor and there may or may not be a basement. A ranch comes in all shapes and sizes. A ranch home is often a rectangle but can be U or L shaped. They lend themselves well to our aging population.
Raised ranch – I am constantly taking real estate classes to improve my expertise so I am confident you will receive the professional service you deserve. To that end, one instructor recently said his least favorite home style was a raised ranch. He said he understands that it is a very affordable home style and makes very efficient use of space. A raised ranch often has a central front door, where you enter the home in the center of a stair case that goes both up to the main living area and down to the family room on the right and the garage on the left (or visa-versa). The upstairs has a living room to the left, a dining room to the right, and bedrooms off the dining room. The kitchen is in the back of the home.
Contemporary - This is a style of home that doesn’t conform to any other style. I’ve seen round contemporaries, A-framed contemporaries and homes that look like modern art pieces with lots of sharp angles on the inside and outside. I owned a home the neighborhood kids called “the castle” because it sat high on a corner lot and the street was on an angle, so it make the already tall home look even taller. It had very little yard and was multi-storied. There were no square rooms anywhere. There were odd angles everywhere. There were lots of stairs, a balcony inside and outside and it lent itself to contemporary art and furniture fabulously. The bedrooms were on the 1st and 3rd floors and the living areas were on the second floor, very open and flowing. The water views were to-die-for. Needless-to-say, all that same furniture in my current colonial home just doesn’t look the same! Prudential Sawicki, in Amherst has two contemporary homes currently on the market in the north Quabbin area.
Farmhouse – I was recently in a farmhouse in Amherst. It is currently on the market. It is located on a busy road but has plenty of parking for occupants and visitors alike. The entire home is exactly as it always was. Not one dime has been spent on renovations over the decades or centuries it has existed. This can be a plus or a minus. If priced right, a plus. It allows a buyer to come in and renovate to their exact preferences. It has views and surrounding land and open space but is fairly centrally-located near everything. The bedrooms are upstairs and the living areas are all on the first floor. The rooms are small and not open to each other. The unfinished basement is full of old furnaces and things that a new owner will need to have removed. And lead paint, asbestos, and other issues are most likely present.
Types of home ownership:
Single family – Single family homes are one home on one lot. Sometimes an in-law apartment is allowed but check with your town’s planning board. Often, visitors may stay in the apartment but renters might not be allowed. Usually, the number of people allowed to live in the home is limited by law; ask your town’s board of health or planning. This would not be a good option if it were being purchased for the purpose of renting out rooms to students, for instance. The owner owns the deed to real property (unless mortgaged) and has all ownership rights allowed by law. The amount of monthly payments includes four things: Principal amount owed on mortgage loan, interest on that mortgage loan, taxes on the property, and insurance on the property (PITI). And if you put less than 20% as a down payment, some lenders may require the person with that loan to pay private mortgage insurance (PMI). This is wasted money. It helps only the lender. It does not pay the borrower unless additional insurance is purchased (not affordable for most homebuyers). I paid PMI once and re-financed as soon as I realized what I’d done to myself. After that, I continued to buy homes with zero money down. The difference is that for my later home purchases I used two loans to buy one home. One loan for 80% of the purchase price and a second loan for 20% of the purchase. Then I pay two monthly payments until I can get the second loan paid off. This is not recommended for most home buyers. And this is not normal for Massachusetts’ purchases. In Massachusetts, the offer is accompanied by $500 to $1000 earnest money. Then, when the offer is accepted by the seller, a second cash deposit is paid by the buyer. This is often 10% of the purchase price, less if the property is a pricey one. The purpose of this is to give all parties involved an incentive to actually see the purchase through to closing.
Multifamily – Two or more families live on one lot. Often, there is one owner who may or may not live on the property. The other units are legally-allowed to be rented out. Be sure you know the law regarding renting. If the property is pre-1979 lead paint is involved. Massachusetts law is very consumer oriented. One to four units have slightly more lenient laws if the owner lives on-site. Also, getting a loan is easier if you live onsite. Also, lending rules allow more buyers to buy a one to four unit property but are more stringent in allowing borrowers to buy a property with more than four units. But discrimination to anyone you do or don't rent to is never tolerated by Massachusetts and is strictly enforced by the state district attorney (even for federal violations). So if you have lead paint and a renter has a child under six years old, you must resolve the lead paint issue (see the lead paint form. Call me for a copy) before they can move in. And the owner may have to pay the renter’s waiting expenses. I am not a lawyer. Seek legal advise from an attorney if you are contemplating renting property. But if having others pay your mortgage appeals, this is the way to build equity for you. But only consider this if you have the cash on hand to pay the mortgage even when many or all the units are unoccupied for an extended period of time. For example, you may need to renovate and have no rent coming in. Try to have the lead paint removed before purchasing such a property. If that’s not possible, be sure your offer to purchase reflects the costs of having this done yourself. There are many, many other considerations of purchasing this type of property. This owner has a deed to real property.
Condominium – Condo ownership is real property. But the common areas are publicly-shared with other owners and visitors alike. There are many rules as to what you may and may not do. There are association fees that change. There are additional mandatory expenses depending on the needs of the building. There are special laws regarding unpaid condo fees and how the association can levy a lien against owners for unpaid fees. But there can be very good reasons to buy a condo. If yard work is not for you but you want a pool and tennis courts that someone else takes care of, a condo can be just the right home. But if quiet and a private yard is your priority, condo life might not be for you. A condo (or townhouse or coop) lends to allowing more open space or public areas as the homes often share common walls, allowing for grouping. This, in, turn, allows for trees, paths, and other features. It also allows for high-density living, which can be good or bad, depending on your point of view. In college I once wrote a paper on open space. I was shocked to learn that high density was environmentally desirable because it keeps more open space for everyone to enjoy. Many town planning boards do the opposite. They mandate two-acre minimums for single family homes. To counter this, Massachusetts has enacted laws that mandate affordable housing in every community, despite what town laws say.
Townhouse – A townhouse is real property, with many of the same issues as a condo. They are often located in fairly-high density locations and often have great access to public transportation, amenities, shopping and entertainment. But remember, the association fees are calculated into the income maximum percentages for mortgage calculation purposes. So if you qualify for $1000 per month mortgage and the mortgage is $1000 per month you have to buy something less expensive if it is a condo or townhouse or even single family with association fees. This is because the fees are included in the calculations. So if you buy a home with no association fees, you can get that $1000 per month mortgage. Even if you later have to put a new roof on the single family home, that future expense isn’t calculated into the amount of single family home you qualify to purchase. But if you buy a townhouse with association fees, then you must buy something less expensive. Here’s why. If you have to add in that $200/month association fee (this fees goes toward maintenance and management expenses), that means you only qualify for an $800/month townhouse. This is because together (mortgage and fees), you have monthly expenses for that townhouse of $1000/month.
Cooperative – Buying a coop is not for everyone. First of all, you are not given a deed when you live in a coop. There is no deed, but there are ownership documents. They just don’t go to the occupant. Ownership documents are held by the association. The association owns the coop and each occupant is given a right to personal property, not real property (real estate is usually real property). There are coop rules to who can buy and who can sell. Some coops keep the profit and allow share-holders only a certain percentage of profit when they sell. A single family home is real property; a coop is personal property. Coop owners are issued shares, like in the stock market. There are also fees and shared common areas and other issues encountered in both condos and townhomes and multi-family properties. But coops can be perfect for some people. My spouse has a fraternity brother who lives in a coop. His very spacious single-family home has lots of land and buildings around it and he even runs his various businesses from other out-building on the property. And all his neighbors are his friends and have been for 30 years. The coop often buys other land that surrounds theirs, when it becomes available. The latest trend to keep local heroes (teachers, firepersons, police, municipal employees, janitors, hospital assistants, wait staff) in high-priced inter-city areas able to buy affordable local housing, is to use a coop to keep the price of home-ownership down. If you live and work in the same area, it is also good for the environment. There are less commute costs, less vehicle pollution, less time wasted in commuting. And the best part, is that if you are always in a community you will care about that community. If you aren’t wasting time commuting, you may volunteer in your local school or hospital, you may work in a community garden. This makes for a better environment for everyone. You’re more likely to know your neighbors if you are in the area night and day. You will drive away bad influences if you are around and care and know each other. What’s not to like about that?
Colonial - Colonial dates back to historical New England. The Garrison Colonial, New England Colonial, Dutch Colonial, Salt Box, Southern, and Modern Colonials are just a few of the various Colonial styles. A colonial home can be described as any house where the second floor living area is 100% of the first floor living area. The roof ridge runs parallel to the main road. Bedrooms are usually always on the second floor. The front entry door is normally near the center on the home. Windows are generally spaced evenly on both sides.
Cabin - I toured a cabin on Lake Wyola last month. It was very small but had lake frontage. You’ll pay about $50,000 more for water frontage, on average. This was basically one room of living area and very little else.
Country – Country isn’t always southern, though many think of the south when they think of country. I think of western as being very different than country. I’ve lived in the south three times over the years. And I’ve lived on the west coast and in the mid-west, too. Country, to me, is more feminine, more an attitude of designed casualness.
Luxury - Mc Mansions are out according to the articles I’ve read recently. My brother-in-law, who is a train book publisher and is active in the arts, agrees. He recently took me on a tour of Massachusetts. He kept saying, just look at those Mc Mansions. I said, what do you mean? He said, you know, those huge houses over there that are huge just for huge sake. They have no uniqueness, no style, no sophistication. He much prefers older homes that have been lovingly maintained or thoughtfully modernized or new homes made to fit into the neighborhood where they are built so buyers can’t tell they are new or at least, buyers think they were built to look like they belong there. His family likes to say “there’s no there there”. That means they wouldn’t ever live in a place that wasn’t identifiable as that place. If you go somewhere and it looks like anywhere USA, then that is not a desirable location.
Victorian - Think lots of detail; ornate; often very small rooms, unusual things like round rooms or tower rooms.
Cape cod – A cape often has a dining room in the center, back of the home, and a kitchen next to it in the front of the home. It often has dormered ceilings in the upstairs bedrooms and a good-sized eat-in kitchen.
Ranch - A ranch home is for someone who doesn’t want an upstairs. All rooms are on the main floor and there may or may not be a basement. A ranch comes in all shapes and sizes. A ranch home is often a rectangle but can be U or L shaped. They lend themselves well to our aging population.
Raised ranch – I am constantly taking real estate classes to improve my expertise so I am confident you will receive the professional service you deserve. To that end, one instructor recently said his least favorite home style was a raised ranch. He said he understands that it is a very affordable home style and makes very efficient use of space. A raised ranch often has a central front door, where you enter the home in the center of a stair case that goes both up to the main living area and down to the family room on the right and the garage on the left (or visa-versa). The upstairs has a living room to the left, a dining room to the right, and bedrooms off the dining room. The kitchen is in the back of the home.
Contemporary - This is a style of home that doesn’t conform to any other style. I’ve seen round contemporaries, A-framed contemporaries and homes that look like modern art pieces with lots of sharp angles on the inside and outside. I owned a home the neighborhood kids called “the castle” because it sat high on a corner lot and the street was on an angle, so it make the already tall home look even taller. It had very little yard and was multi-storied. There were no square rooms anywhere. There were odd angles everywhere. There were lots of stairs, a balcony inside and outside and it lent itself to contemporary art and furniture fabulously. The bedrooms were on the 1st and 3rd floors and the living areas were on the second floor, very open and flowing. The water views were to-die-for. Needless-to-say, all that same furniture in my current colonial home just doesn’t look the same! Prudential Sawicki, in Amherst has two contemporary homes currently on the market in the north Quabbin area.
Farmhouse – I was recently in a farmhouse in Amherst. It is currently on the market. It is located on a busy road but has plenty of parking for occupants and visitors alike. The entire home is exactly as it always was. Not one dime has been spent on renovations over the decades or centuries it has existed. This can be a plus or a minus. If priced right, a plus. It allows a buyer to come in and renovate to their exact preferences. It has views and surrounding land and open space but is fairly centrally-located near everything. The bedrooms are upstairs and the living areas are all on the first floor. The rooms are small and not open to each other. The unfinished basement is full of old furnaces and things that a new owner will need to have removed. And lead paint, asbestos, and other issues are most likely present.
Types of home ownership:
Single family – Single family homes are one home on one lot. Sometimes an in-law apartment is allowed but check with your town’s planning board. Often, visitors may stay in the apartment but renters might not be allowed. Usually, the number of people allowed to live in the home is limited by law; ask your town’s board of health or planning. This would not be a good option if it were being purchased for the purpose of renting out rooms to students, for instance. The owner owns the deed to real property (unless mortgaged) and has all ownership rights allowed by law. The amount of monthly payments includes four things: Principal amount owed on mortgage loan, interest on that mortgage loan, taxes on the property, and insurance on the property (PITI). And if you put less than 20% as a down payment, some lenders may require the person with that loan to pay private mortgage insurance (PMI). This is wasted money. It helps only the lender. It does not pay the borrower unless additional insurance is purchased (not affordable for most homebuyers). I paid PMI once and re-financed as soon as I realized what I’d done to myself. After that, I continued to buy homes with zero money down. The difference is that for my later home purchases I used two loans to buy one home. One loan for 80% of the purchase price and a second loan for 20% of the purchase. Then I pay two monthly payments until I can get the second loan paid off. This is not recommended for most home buyers. And this is not normal for Massachusetts’ purchases. In Massachusetts, the offer is accompanied by $500 to $1000 earnest money. Then, when the offer is accepted by the seller, a second cash deposit is paid by the buyer. This is often 10% of the purchase price, less if the property is a pricey one. The purpose of this is to give all parties involved an incentive to actually see the purchase through to closing.
Multifamily – Two or more families live on one lot. Often, there is one owner who may or may not live on the property. The other units are legally-allowed to be rented out. Be sure you know the law regarding renting. If the property is pre-1979 lead paint is involved. Massachusetts law is very consumer oriented. One to four units have slightly more lenient laws if the owner lives on-site. Also, getting a loan is easier if you live onsite. Also, lending rules allow more buyers to buy a one to four unit property but are more stringent in allowing borrowers to buy a property with more than four units. But discrimination to anyone you do or don't rent to is never tolerated by Massachusetts and is strictly enforced by the state district attorney (even for federal violations). So if you have lead paint and a renter has a child under six years old, you must resolve the lead paint issue (see the lead paint form. Call me for a copy) before they can move in. And the owner may have to pay the renter’s waiting expenses. I am not a lawyer. Seek legal advise from an attorney if you are contemplating renting property. But if having others pay your mortgage appeals, this is the way to build equity for you. But only consider this if you have the cash on hand to pay the mortgage even when many or all the units are unoccupied for an extended period of time. For example, you may need to renovate and have no rent coming in. Try to have the lead paint removed before purchasing such a property. If that’s not possible, be sure your offer to purchase reflects the costs of having this done yourself. There are many, many other considerations of purchasing this type of property. This owner has a deed to real property.
Condominium – Condo ownership is real property. But the common areas are publicly-shared with other owners and visitors alike. There are many rules as to what you may and may not do. There are association fees that change. There are additional mandatory expenses depending on the needs of the building. There are special laws regarding unpaid condo fees and how the association can levy a lien against owners for unpaid fees. But there can be very good reasons to buy a condo. If yard work is not for you but you want a pool and tennis courts that someone else takes care of, a condo can be just the right home. But if quiet and a private yard is your priority, condo life might not be for you. A condo (or townhouse or coop) lends to allowing more open space or public areas as the homes often share common walls, allowing for grouping. This, in, turn, allows for trees, paths, and other features. It also allows for high-density living, which can be good or bad, depending on your point of view. In college I once wrote a paper on open space. I was shocked to learn that high density was environmentally desirable because it keeps more open space for everyone to enjoy. Many town planning boards do the opposite. They mandate two-acre minimums for single family homes. To counter this, Massachusetts has enacted laws that mandate affordable housing in every community, despite what town laws say.
Townhouse – A townhouse is real property, with many of the same issues as a condo. They are often located in fairly-high density locations and often have great access to public transportation, amenities, shopping and entertainment. But remember, the association fees are calculated into the income maximum percentages for mortgage calculation purposes. So if you qualify for $1000 per month mortgage and the mortgage is $1000 per month you have to buy something less expensive if it is a condo or townhouse or even single family with association fees. This is because the fees are included in the calculations. So if you buy a home with no association fees, you can get that $1000 per month mortgage. Even if you later have to put a new roof on the single family home, that future expense isn’t calculated into the amount of single family home you qualify to purchase. But if you buy a townhouse with association fees, then you must buy something less expensive. Here’s why. If you have to add in that $200/month association fee (this fees goes toward maintenance and management expenses), that means you only qualify for an $800/month townhouse. This is because together (mortgage and fees), you have monthly expenses for that townhouse of $1000/month.
Cooperative – Buying a coop is not for everyone. First of all, you are not given a deed when you live in a coop. There is no deed, but there are ownership documents. They just don’t go to the occupant. Ownership documents are held by the association. The association owns the coop and each occupant is given a right to personal property, not real property (real estate is usually real property). There are coop rules to who can buy and who can sell. Some coops keep the profit and allow share-holders only a certain percentage of profit when they sell. A single family home is real property; a coop is personal property. Coop owners are issued shares, like in the stock market. There are also fees and shared common areas and other issues encountered in both condos and townhomes and multi-family properties. But coops can be perfect for some people. My spouse has a fraternity brother who lives in a coop. His very spacious single-family home has lots of land and buildings around it and he even runs his various businesses from other out-building on the property. And all his neighbors are his friends and have been for 30 years. The coop often buys other land that surrounds theirs, when it becomes available. The latest trend to keep local heroes (teachers, firepersons, police, municipal employees, janitors, hospital assistants, wait staff) in high-priced inter-city areas able to buy affordable local housing, is to use a coop to keep the price of home-ownership down. If you live and work in the same area, it is also good for the environment. There are less commute costs, less vehicle pollution, less time wasted in commuting. And the best part, is that if you are always in a community you will care about that community. If you aren’t wasting time commuting, you may volunteer in your local school or hospital, you may work in a community garden. This makes for a better environment for everyone. You’re more likely to know your neighbors if you are in the area night and day. You will drive away bad influences if you are around and care and know each other. What’s not to like about that?
Green
Today is St. Patrick’s Day. To me, that means all things green. What is green in a home? Plants, paint, accessories come to mind. Green is considered a neutral color, much like gray, beige, tan and white are neutrals. The dining room of one of my former homes was green. I loved it. Tip: Be careful to pick the right shade of green. Be sure it is a current shade. If it looks dated, buyers might discount the amount they offer. Consider painting one accent wall only in green, if the room has one wall that could benefit from being accented. For instance, paint the wall over the bed, or the wall behind the mantel green. This is not what most realtors would advise. They'd say leave everything white. I'm not so sure. In one of my past homes I lived out of state and my property manager had my home painted white, everywhere. The next year, when I toured it, I was so unhappy; the white cabinets in the kitchen looked horrible with the white walls! Since that kitchen had a wall of floor-to-ceiling windows overlooking the lush, green back yard, wouldn't a pale green have been perfect?
Plants. Be sure to use plants to help you sell your home. Be sure the plants are healthy and attractive. Discard or move elsewhere plants that are not an asset. You are planning to move when the home sells, right? So start your packing and storing your excess furniture and collections now. This will ensure higher offers from buyers and in less time. Some designers believe that it is ok to mix real and artificial plants. I disagree. But then, I am a minimalist. I believe that if it isn’t real, it isn’t necessary. In the same way that I’d recommend emptying out everything non-essential from every room, I’d say only real plants are necessary. Don’t overdue it, though. Empty homes are not popular with buyers. Buyers prefer a home they feel they can move right into. Many buyers can’t envision how their furniture will look in an empty home. Tip: If possible, keep some furniture in the home while it is for sale; try to stage the property, even if just minimally.
And don’t forget the plants outside the home, especially those near the walkway. Curb appeal is critical to buyers getting a warm and fuzzy before even entering your home. If the outside isn’t appealing most buyers won’t even tour a home. Tip: If you know you are going to be selling your home in the winter, be sure to plant plants that are attractive in winter. Winter plants are those that are green all year long or have colorful stems or trunks in winter.
Plants. Be sure to use plants to help you sell your home. Be sure the plants are healthy and attractive. Discard or move elsewhere plants that are not an asset. You are planning to move when the home sells, right? So start your packing and storing your excess furniture and collections now. This will ensure higher offers from buyers and in less time. Some designers believe that it is ok to mix real and artificial plants. I disagree. But then, I am a minimalist. I believe that if it isn’t real, it isn’t necessary. In the same way that I’d recommend emptying out everything non-essential from every room, I’d say only real plants are necessary. Don’t overdue it, though. Empty homes are not popular with buyers. Buyers prefer a home they feel they can move right into. Many buyers can’t envision how their furniture will look in an empty home. Tip: If possible, keep some furniture in the home while it is for sale; try to stage the property, even if just minimally.
And don’t forget the plants outside the home, especially those near the walkway. Curb appeal is critical to buyers getting a warm and fuzzy before even entering your home. If the outside isn’t appealing most buyers won’t even tour a home. Tip: If you know you are going to be selling your home in the winter, be sure to plant plants that are attractive in winter. Winter plants are those that are green all year long or have colorful stems or trunks in winter.
Sunday, March 16, 2008
Hill Town
Location location location. That’s what real estate is all about. What does location mean? Location means no two properties are identical. What should I consider to help me know if living away from a city is for me? Only you know if you are a cabin in the woods type of person. But here are some things to consider in making your decision. For me, living in a hill town near the Quabbin is perfect. But there are sacrifices to living away from city amenities:
1. Expensive satellite tv because there is no cable ($160/month with premium channels)
2. Dial-up internet because there is no high-speed internet available (except satellite, which I feel is not affordable for my needs). ($10.95 to $100/month)
3. No town water means drilling a 650-foot deep well in some cases. ($0/month)
4. No town sewer so a huge portion of the yard is devoted to a septic system. Tip: When purchasing a new home, be sure to write into your offer and purchase and sale agreement that “septic to be acceptable to buyer.” This is to prevent you buying a gorgeous, flat, unimproved lot one day and then walking onto the finished property months later and seeing a huge, six-foot high mound of dirt in the side yard. A high septic might be required if the soil doesn’t percolate (not sure of spelling but this is where water doesn’t filter-through the soil as required by the local health department, so filterable soil must be added in sufficient quantities that it does filter properly. This could result in a mountain a buyer might not have planned). Conversely, no sewer bills, a plus! A possible minus: Yearly clean-outs cost $$s and when selling, Title V inspections are often the costliest parts of preparing your older home for re-sale. Tip: Be sure the septic is rated for the same number of rooms as your home has. For instance, if your septic is rated for three bedrooms and your home has four bedrooms, that means your septic isn’t rated to handle as many people as will be using it. And when you try to sell, this will be a problem that needs to be dealt with. One way of dealing with it is by marketing your home with three bedrooms instead of the four it actually has. But this will often require a price reduction because today’s buyers have lots to choose from and a comparable home with a septic that matches the rooms might be chosen over your home. Consider correcting the septic discrepancy before marketing your property for sale if you wish to receive top dollar. ($0/month)
5. Water quality must be tested occasionally for salt or pollutants, an added expense. Conversely, no water bills, a plus! (not sure of cost as I haven’t yet tested my water)
6. Less traffic and road noise. A plus if you like serenity, a minus if silence drives you crazy.
7. Lots of nature, trees, spring peepers, snapping turtles, wild turkeys, birds.
8. No: public transportation, local shopping
9. Fewer: Neighbors, changes in the neighborhood
10. A different type of entertainment: In the hill towns, you will find that city halls and old churches transform in winter into Saturday coffee houses with live, local folk music. Local pubs transform into locations for monthly poetry readings, every month offers a different form of local social life.
11. Often, you will have a longer commute if you don’t buy a home in the same area as where you work. My son commented this morning that everywhere we go we drive great distances. That’s because I work and shop in Amherst and my spouse drives toward Boston. That means we drive everywhere for everything. We do have a local general store for last minute purchases and even video rentals. But for major shopping, the nearest grocery store is 10 miles away. And my favorite Whole Foods is closer to 20 miles away. These considerations matter over the long haul, so be aware of your priorities. Here’s why: For my spouse, being close to nature is priority number one. He walks everywhere everyday and goes to various sporting clubs three times a week. For me, coming home after work and being away from everything, hearing no frat parties or traffic in the middle of the night, knowing my school district rates fairly high on achievement and is safe and that the crime rate in my neighborhood is extremely low is important. Those things compensate for having to drive everywhere. But if that’s not true for you, and for you, preserving the environment by not driving any more than necessary is your priority, then living very close to where you work might be the place for you. But think long-term. Statistically, workers today change careers every five years. So keep that in mind when buying a home close to work when work might be elsewhere in five years. And for me, living away from where I work is a plus. I like that separation. (expensive with today’s gas prices)
12. Fewer town amenities received and often, fairly high taxes paid. Statistically, the hill town schools are the highest percentage of hill town budgets. And if other regional towns vote for higher school budgets, your town will be forced to pay that higher tax (in Franklin county, many hill towns have joined an alternative form of government and county government doesn’t really exist. They use the Franklin Regional Council of Governments and sometimes two towns will share one elementary school, which means bussing if you don’t buy your home near the school). So if you have lots of kids, this might be good for you. If you have no kids, you might not like this. But for property values, taking excellent care of our kids, statistically, makes for higher property values because a community is no better than its inhabitants. And I believe that good schools lead to great citizens. (four property tax bills are received each year and newer homes often cost more per square foot than older homes). Tip: When buying or selling, the taxes are pro-rated in closing. This means that when you receive your first tax bill, it will be correct, even if the bill is for June, July and August and you only owned the home since August 15th. But you can verify this by looking at your closing documents you received at the closing. If you are in the process of buying or selling, your attorney will see to this for you. But it never hurts to look for yourself before signing. Note: I am not an attorney and this is not legal advice. I can refer you to an experienced property attorney, just ask!
1. Expensive satellite tv because there is no cable ($160/month with premium channels)
2. Dial-up internet because there is no high-speed internet available (except satellite, which I feel is not affordable for my needs). ($10.95 to $100/month)
3. No town water means drilling a 650-foot deep well in some cases. ($0/month)
4. No town sewer so a huge portion of the yard is devoted to a septic system. Tip: When purchasing a new home, be sure to write into your offer and purchase and sale agreement that “septic to be acceptable to buyer.” This is to prevent you buying a gorgeous, flat, unimproved lot one day and then walking onto the finished property months later and seeing a huge, six-foot high mound of dirt in the side yard. A high septic might be required if the soil doesn’t percolate (not sure of spelling but this is where water doesn’t filter-through the soil as required by the local health department, so filterable soil must be added in sufficient quantities that it does filter properly. This could result in a mountain a buyer might not have planned). Conversely, no sewer bills, a plus! A possible minus: Yearly clean-outs cost $$s and when selling, Title V inspections are often the costliest parts of preparing your older home for re-sale. Tip: Be sure the septic is rated for the same number of rooms as your home has. For instance, if your septic is rated for three bedrooms and your home has four bedrooms, that means your septic isn’t rated to handle as many people as will be using it. And when you try to sell, this will be a problem that needs to be dealt with. One way of dealing with it is by marketing your home with three bedrooms instead of the four it actually has. But this will often require a price reduction because today’s buyers have lots to choose from and a comparable home with a septic that matches the rooms might be chosen over your home. Consider correcting the septic discrepancy before marketing your property for sale if you wish to receive top dollar. ($0/month)
5. Water quality must be tested occasionally for salt or pollutants, an added expense. Conversely, no water bills, a plus! (not sure of cost as I haven’t yet tested my water)
6. Less traffic and road noise. A plus if you like serenity, a minus if silence drives you crazy.
7. Lots of nature, trees, spring peepers, snapping turtles, wild turkeys, birds.
8. No: public transportation, local shopping
9. Fewer: Neighbors, changes in the neighborhood
10. A different type of entertainment: In the hill towns, you will find that city halls and old churches transform in winter into Saturday coffee houses with live, local folk music. Local pubs transform into locations for monthly poetry readings, every month offers a different form of local social life.
11. Often, you will have a longer commute if you don’t buy a home in the same area as where you work. My son commented this morning that everywhere we go we drive great distances. That’s because I work and shop in Amherst and my spouse drives toward Boston. That means we drive everywhere for everything. We do have a local general store for last minute purchases and even video rentals. But for major shopping, the nearest grocery store is 10 miles away. And my favorite Whole Foods is closer to 20 miles away. These considerations matter over the long haul, so be aware of your priorities. Here’s why: For my spouse, being close to nature is priority number one. He walks everywhere everyday and goes to various sporting clubs three times a week. For me, coming home after work and being away from everything, hearing no frat parties or traffic in the middle of the night, knowing my school district rates fairly high on achievement and is safe and that the crime rate in my neighborhood is extremely low is important. Those things compensate for having to drive everywhere. But if that’s not true for you, and for you, preserving the environment by not driving any more than necessary is your priority, then living very close to where you work might be the place for you. But think long-term. Statistically, workers today change careers every five years. So keep that in mind when buying a home close to work when work might be elsewhere in five years. And for me, living away from where I work is a plus. I like that separation. (expensive with today’s gas prices)
12. Fewer town amenities received and often, fairly high taxes paid. Statistically, the hill town schools are the highest percentage of hill town budgets. And if other regional towns vote for higher school budgets, your town will be forced to pay that higher tax (in Franklin county, many hill towns have joined an alternative form of government and county government doesn’t really exist. They use the Franklin Regional Council of Governments and sometimes two towns will share one elementary school, which means bussing if you don’t buy your home near the school). So if you have lots of kids, this might be good for you. If you have no kids, you might not like this. But for property values, taking excellent care of our kids, statistically, makes for higher property values because a community is no better than its inhabitants. And I believe that good schools lead to great citizens. (four property tax bills are received each year and newer homes often cost more per square foot than older homes). Tip: When buying or selling, the taxes are pro-rated in closing. This means that when you receive your first tax bill, it will be correct, even if the bill is for June, July and August and you only owned the home since August 15th. But you can verify this by looking at your closing documents you received at the closing. If you are in the process of buying or selling, your attorney will see to this for you. But it never hurts to look for yourself before signing. Note: I am not an attorney and this is not legal advice. I can refer you to an experienced property attorney, just ask!
Tuesday, March 11, 2008
Free
What free things can realtors provide? Where to start? There are so many:
1. Buyers information pamphlets
2. Sellers information pamphlets
3. Area maps
4. Daily MLS listings of area homes for sale e-mailed to anyone who asks for it
5. Knowledge of all things real estate
6. Real estate forms
7. For sale by owner assistance
8. Community service
9. Volunteering
10. Ability to get the word out on services neighbors provide
11. Staging assistance
12. Pre-listing advice on how to get your home and yard ready for buyers (even if you aren't planning to sell anytime soon)
13. Spring cleaning advice
14. A friend who wants nothing more than to get to know you and your wants and needs
15. Free stuff (most realtors have a client appreciation program for referrals)
16. Open house tours where the realtor is available to talk/listen to anyone about anything
Information about:
a. the entire real estate buying and selling process
b. renting pros and cons and things to consider to help make a decision
c. whether or not buying or selling or renting is right for you (or at least give you the questions to ask yourself to help you decide)
d. market conditions
e. advice on negotiations
f. professional referral lists of experts in the area the realtor is willing to link her name with so she knows they are the best available
g. Office space to talk about your dreams
h. an ear to listen to your dreams
i. how to make your dreams come true (or how to plan to make them come true in future
j. how to pre-plan if you don't yet have your ducks in a row
k. what ducks need to be lined up
l. charts and grafts and pictures and any other form of presentation needed (depending on your preferred learning method) for comparative market analysis to determine the value of your home. This is available to everyone, even for sale by owners and those not planning to sell anytime soon.
All of the above, and much more, is available to anyone who ask! Call me. I love meeting people. Don't let fear of "not being ready" or fear that I'll "bother you" stop you from asking for any of the above information. I'm here as a community resource. I want to help. Getting a commission is not a priority for me. What I want most is to meet you and help you learn everything you ever wanted to know about real estate.
1. Buyers information pamphlets
2. Sellers information pamphlets
3. Area maps
4. Daily MLS listings of area homes for sale e-mailed to anyone who asks for it
5. Knowledge of all things real estate
6. Real estate forms
7. For sale by owner assistance
8. Community service
9. Volunteering
10. Ability to get the word out on services neighbors provide
11. Staging assistance
12. Pre-listing advice on how to get your home and yard ready for buyers (even if you aren't planning to sell anytime soon)
13. Spring cleaning advice
14. A friend who wants nothing more than to get to know you and your wants and needs
15. Free stuff (most realtors have a client appreciation program for referrals)
16. Open house tours where the realtor is available to talk/listen to anyone about anything
Information about:
a. the entire real estate buying and selling process
b. renting pros and cons and things to consider to help make a decision
c. whether or not buying or selling or renting is right for you (or at least give you the questions to ask yourself to help you decide)
d. market conditions
e. advice on negotiations
f. professional referral lists of experts in the area the realtor is willing to link her name with so she knows they are the best available
g. Office space to talk about your dreams
h. an ear to listen to your dreams
i. how to make your dreams come true (or how to plan to make them come true in future
j. how to pre-plan if you don't yet have your ducks in a row
k. what ducks need to be lined up
l. charts and grafts and pictures and any other form of presentation needed (depending on your preferred learning method) for comparative market analysis to determine the value of your home. This is available to everyone, even for sale by owners and those not planning to sell anytime soon.
All of the above, and much more, is available to anyone who ask! Call me. I love meeting people. Don't let fear of "not being ready" or fear that I'll "bother you" stop you from asking for any of the above information. I'm here as a community resource. I want to help. Getting a commission is not a priority for me. What I want most is to meet you and help you learn everything you ever wanted to know about real estate.
Monday, March 10, 2008
Financing
Today I heard on CNBC television that the financial market is contracting and that we are in a recession and the home financing market is only going to get worse. That there is less money out there to lend because all the big financing institutions are in financial trouble and therefore are not lending but are, in fact, lending less so as to build up their reserves. Reserves are the monies banks must keep on-hand in case of a run on the bank. Because of what CNBC said, aren’t realtors disingenuous in advocating people still buy and sell homes? Not at all. Some people have to move. These homeowners have two choices under these circumstances. One choice is to rent out their home after they leave. I don’t advocate this for most homeowners and here’s why. I’ve not been able to sell my home on four different occasions. That means on four occasions, I’ve rented out my home. Each time I’ve fixed up the home in preparation to sell. Each of these times I spent thousands to get this done. Then I’ve hired a property manager as I now lived in another state and couldn’t manage the property myself. But it required lots of my time in dealing with all the issues involved. Then I had to pay between four and 10% per month of the rent to the manager as a management fee. Also, as a finders-fee, the manager receives half of the first month’s rent. Then there are the regular things that go wrong with plumbing, roof leaks, siding cleaning, and yearly maintenance of furnace and air conditioning system fees as an ongoing expense. Plus the utilities bills and yard-maintenance fees you pay for while the home is empty on either end of the lease. And the fact that you still have a mortgage to pay, even when there is no rent being received. This requires keeping huge amounts of reserve funds on-hand. Also, in all my cases, the rent was equal or lower than my mortgage payments. This means I was renting as a net-monthly loss, before all the other expenses I've mentioned. In three out of four situations, I did make money in the end, when the home finally did sell. The tax write-off was great, the property depreciation was great. But the monthly cash-flow, was negative. And the time needed to manage all this was huge.
I had enough funds to deal with all of the above up until this year. So paying these expenses has been easy for me because my spouse makes a very good income as an Army Colonel. But soon he retires and our income will go to next to nothing, comparatively-speaking. My spouse’s pending retirement was what made me sell all my rental properties, even when the market was on the way down. I still made money on one recent sale and lost on the other most recent sale. But now I am out from under those obligations, and that was important to me for peace-of-mind, knowing my future required planning for financial changes in my budget.
Your life situation may be different than mine. For you, the loss may be acceptable because you know the market will go up one day and you have the ability to weather out the current market conditions. You may now have an opportunity to buy that you are in the right situation to take advantage of! Or, conversely, you may be ready to buy a great property knowing the home prices may never again be this low. And with financing rates as low as they are right now, you may be just the right buyer for this market.
Back to rental considerations: Add to the above rental facts the fact that Massachusetts is a very consumer-friendly state. That means that homeowners have strict rules on how homeowners rent their property. Massachusetts law requires that homeowners:
1. Must rent to anyone, including those with kids under six, even if your property is full of lead paint
2. Must remove or encapsulate lead paint if home is rented to someone with a child under six
3. Maximum allowable cleaning deposit is the amount of one month’s rent
4. Must provide renter with name of bank and account number of institution where deposit is held
5. Must offer to return all interest on deposit to renter each year
6. Deposit must be held out-of-reach of homeowner’s creditors, like in an escrow account
Then, when the renters leave, you will, most-likely, have thousands to pay to make the home marketable or livable. I always had to pay between $500 and $6,000 after my renters left to get the property sold. If you are handy, maybe this won’t apply to you and the renting option may be something you could consider, other considerations allowing.
So, if renting isn’t an option for you, then selling is the other option. And when you have to move, the current market isn’t something within your control. Then the biggest consideration is having enough equity to pay closing expenses. If you have little or no equity, do you have enough credit or savings to pay closing expenses yourself and take the tax write-off for the loss next year? Is your good credit-rating important to you? Does your job depend on your security clearance? These are all the considerations a person who can’t get their home sold must consider. Have you called your mortgage company and tried to work out a plan to lower your interest or accept a deed give-back? If you aren’t yet in foreclosure, consider a short sale. This is where you sale your home at a loss and the mortgage-holder agrees to not require the homeowner to pay the remaining balance. I considered all of the above and for me, the only option was to borrow the money and sale the property at a loss. My good name and good credit mandated that that was the only decision possible. I am a realtor, not an attorney. None of the above is legal advice. Seek legal advice for all of the above options. Consumer credit counseling is the service I utilized years ago when we had trouble selling our 2nd home. We ended up not needing their services and getting the home sold for a profit.
But the good news is, the financial market in the Quabbin, Massachusetts area is fine. We are able to get excellent, generous, home financing. I receive weekly financing updates from several local loan officers, whom I know personally, so I can tell you financing is available, even if CNBC says otherwise. And if you have very good credit, even 100% financing is available. And if your credit is good, you can get 97% financing with almost historic-low interest rates, too. And the ceiling for jumbo loans has recently been raised (so you get more home at historicly low prices). And the borrower can choose zero to two points and only pay slightly lower or higher APR depending on the points they do or don’t choose to pay.
What I’m saying is that, no, realtors are not being disingenuous in saying this is a great time to buy or sell a home.
Tip: Did you ever wonder if your realtor receives a kick-back for all the referral business she gives other professionals? I’m talking about when your realtor provides you with the names and numbers of the best local loan officers, lawyers and inspectors who will help you buy or sell a home. The answer is no, realtors cannot receive payment from these professionals for referring our customers to them. Realtors can only be paid by their brokers. The reason we refer professionals to our clients is because that is our job. Our job is to see our customers have everything they need to either move in or out of their home. We get paid when the closing closes. Our job is to see that the closing occurs. The closing won’t occur if competent, honest, professionals aren’t involved. That’s why we provide this service.
I had enough funds to deal with all of the above up until this year. So paying these expenses has been easy for me because my spouse makes a very good income as an Army Colonel. But soon he retires and our income will go to next to nothing, comparatively-speaking. My spouse’s pending retirement was what made me sell all my rental properties, even when the market was on the way down. I still made money on one recent sale and lost on the other most recent sale. But now I am out from under those obligations, and that was important to me for peace-of-mind, knowing my future required planning for financial changes in my budget.
Your life situation may be different than mine. For you, the loss may be acceptable because you know the market will go up one day and you have the ability to weather out the current market conditions. You may now have an opportunity to buy that you are in the right situation to take advantage of! Or, conversely, you may be ready to buy a great property knowing the home prices may never again be this low. And with financing rates as low as they are right now, you may be just the right buyer for this market.
Back to rental considerations: Add to the above rental facts the fact that Massachusetts is a very consumer-friendly state. That means that homeowners have strict rules on how homeowners rent their property. Massachusetts law requires that homeowners:
1. Must rent to anyone, including those with kids under six, even if your property is full of lead paint
2. Must remove or encapsulate lead paint if home is rented to someone with a child under six
3. Maximum allowable cleaning deposit is the amount of one month’s rent
4. Must provide renter with name of bank and account number of institution where deposit is held
5. Must offer to return all interest on deposit to renter each year
6. Deposit must be held out-of-reach of homeowner’s creditors, like in an escrow account
Then, when the renters leave, you will, most-likely, have thousands to pay to make the home marketable or livable. I always had to pay between $500 and $6,000 after my renters left to get the property sold. If you are handy, maybe this won’t apply to you and the renting option may be something you could consider, other considerations allowing.
So, if renting isn’t an option for you, then selling is the other option. And when you have to move, the current market isn’t something within your control. Then the biggest consideration is having enough equity to pay closing expenses. If you have little or no equity, do you have enough credit or savings to pay closing expenses yourself and take the tax write-off for the loss next year? Is your good credit-rating important to you? Does your job depend on your security clearance? These are all the considerations a person who can’t get their home sold must consider. Have you called your mortgage company and tried to work out a plan to lower your interest or accept a deed give-back? If you aren’t yet in foreclosure, consider a short sale. This is where you sale your home at a loss and the mortgage-holder agrees to not require the homeowner to pay the remaining balance. I considered all of the above and for me, the only option was to borrow the money and sale the property at a loss. My good name and good credit mandated that that was the only decision possible. I am a realtor, not an attorney. None of the above is legal advice. Seek legal advice for all of the above options. Consumer credit counseling is the service I utilized years ago when we had trouble selling our 2nd home. We ended up not needing their services and getting the home sold for a profit.
But the good news is, the financial market in the Quabbin, Massachusetts area is fine. We are able to get excellent, generous, home financing. I receive weekly financing updates from several local loan officers, whom I know personally, so I can tell you financing is available, even if CNBC says otherwise. And if you have very good credit, even 100% financing is available. And if your credit is good, you can get 97% financing with almost historic-low interest rates, too. And the ceiling for jumbo loans has recently been raised (so you get more home at historicly low prices). And the borrower can choose zero to two points and only pay slightly lower or higher APR depending on the points they do or don’t choose to pay.
What I’m saying is that, no, realtors are not being disingenuous in saying this is a great time to buy or sell a home.
Tip: Did you ever wonder if your realtor receives a kick-back for all the referral business she gives other professionals? I’m talking about when your realtor provides you with the names and numbers of the best local loan officers, lawyers and inspectors who will help you buy or sell a home. The answer is no, realtors cannot receive payment from these professionals for referring our customers to them. Realtors can only be paid by their brokers. The reason we refer professionals to our clients is because that is our job. Our job is to see our customers have everything they need to either move in or out of their home. We get paid when the closing closes. Our job is to see that the closing occurs. The closing won’t occur if competent, honest, professionals aren’t involved. That’s why we provide this service.
Saturday, March 8, 2008
For Sale By Owner (FSBO)
What can a realtor do to assist a homeowner who is trying to sell his home on his own?
Comparative Market Analysis (CMA). A realtor can tour the home and then go back to the office and do her homework. The next day she’ll return to the home and show that homeowner what the market data show is the highest market value range. She’ll do this by presenting the homeowner with a CMA. Realtors aren’t allowed to provide a homeowner with an appraisal unless the realtor is also a state-licensed appraiser. But the CMA data will allow the homeowner to determine the best price to list his home for sale.
Staging. A realtor can advise a homeowner on how best to get her home in salable condition. She’ll suggest putting away personal things and clean everything. Move the furniture so it is easy to get around the room. Set up each room so it has just one, obvious purpose. Store everything you don’t need while the home is on the market. Update anything that is outdated. Make any needed repairs. And don’t forget the exterior needs all these things, too.
Explain why a home seller should consider hiring a realtor. If you are knowledgeable on all aspects of selling a home, you are probably ok with the process on your own. If you are knowledgeable with marketing, you are probably ok with the process on your own. But do you have access to the multiple listing service (MLS)? Some brokers will, for a fee, list a FSBO onto the MLS. Do you have the time and money to place ads into newspapers and all over the internet weekly? Do you have time to arrange for buyer visits to your home? Are you knowledgeable about fire inspections? Are you knowledgeable about home inspections? Do you have negotiating skills when an offer is received and the time to do the negotiating? Do you have a property lawyer to help with the purchase and sale agreement once an offer is received? Do you know whom to call to help you complete needed home updates? If there is a problem with the process, are you able to handle it quickly enough so you don’t lose the buyers due to missing a deadline? Home selling is a complicated, time-sensitive process that is full of ways to get sued if all is not accomplished within strict time limits and is full of many laws that must be followed. And ignorance of the law will not limit your liability if things aren’t accomplished correctly and in a timely manner.
Need more reasons to hire a realtor? Buyers have realtors. Realtors work for a living. Realtors get paid for being the procuring cause of a real estate transaction. Realtors can show client-buyers FSBO homes if the buyers have a written agreement with their realtor to pay the realtor themselves. The client then puts that payment into her offer to buy the home being sold by the FSBO. If the agreement is accepted by the homeowner, then everyone is happy. But, in today’s market, few buyers sign such contracts with their realtors. So few realtors show their buyer-customers a FSBO. And what incentive does a buyer have to tour a FSBO when they have so many realtor-represented homes available? And why would a buyer buy a FSBO and have no representation when, at no cost to the buyer, the buyer can have expert realtor representation?
Comparative Market Analysis (CMA). A realtor can tour the home and then go back to the office and do her homework. The next day she’ll return to the home and show that homeowner what the market data show is the highest market value range. She’ll do this by presenting the homeowner with a CMA. Realtors aren’t allowed to provide a homeowner with an appraisal unless the realtor is also a state-licensed appraiser. But the CMA data will allow the homeowner to determine the best price to list his home for sale.
Staging. A realtor can advise a homeowner on how best to get her home in salable condition. She’ll suggest putting away personal things and clean everything. Move the furniture so it is easy to get around the room. Set up each room so it has just one, obvious purpose. Store everything you don’t need while the home is on the market. Update anything that is outdated. Make any needed repairs. And don’t forget the exterior needs all these things, too.
Explain why a home seller should consider hiring a realtor. If you are knowledgeable on all aspects of selling a home, you are probably ok with the process on your own. If you are knowledgeable with marketing, you are probably ok with the process on your own. But do you have access to the multiple listing service (MLS)? Some brokers will, for a fee, list a FSBO onto the MLS. Do you have the time and money to place ads into newspapers and all over the internet weekly? Do you have time to arrange for buyer visits to your home? Are you knowledgeable about fire inspections? Are you knowledgeable about home inspections? Do you have negotiating skills when an offer is received and the time to do the negotiating? Do you have a property lawyer to help with the purchase and sale agreement once an offer is received? Do you know whom to call to help you complete needed home updates? If there is a problem with the process, are you able to handle it quickly enough so you don’t lose the buyers due to missing a deadline? Home selling is a complicated, time-sensitive process that is full of ways to get sued if all is not accomplished within strict time limits and is full of many laws that must be followed. And ignorance of the law will not limit your liability if things aren’t accomplished correctly and in a timely manner.
Need more reasons to hire a realtor? Buyers have realtors. Realtors work for a living. Realtors get paid for being the procuring cause of a real estate transaction. Realtors can show client-buyers FSBO homes if the buyers have a written agreement with their realtor to pay the realtor themselves. The client then puts that payment into her offer to buy the home being sold by the FSBO. If the agreement is accepted by the homeowner, then everyone is happy. But, in today’s market, few buyers sign such contracts with their realtors. So few realtors show their buyer-customers a FSBO. And what incentive does a buyer have to tour a FSBO when they have so many realtor-represented homes available? And why would a buyer buy a FSBO and have no representation when, at no cost to the buyer, the buyer can have expert realtor representation?
Friday, March 7, 2008
Secrets
What secrets should you tell your realtor? You can tell your realtor anything. But the catch is that your realtor isn't allowed, by law, to keep secrets regarding material facts of the property.
For example, Client: "I have a leaky roof but I don't want to disclose it." Realtor: "We have to disclose it. Why? I have an obligation to you, as the seller's agent. But I also have a code of ethics to uphold. That code requires me to disclose all material facts regarding your property to anyone, including buyers. So, let's get this disclosure form completed honestly. Now, let's talk about the budget. Is it possible to get the roof replaced? Client: "No." Realtor: Well, then let's deal with this in our marketing plan. We'll add a line onto the flyer and in our multiple listing service disclosures that says 'Needs new roof, sold as is.' That isn't the best option for most buyers, though. Most buyers want something they can move right into without having additional expenses. Is it possible to agree to pay for the roof repairs after an offer is received and the cost will come out of closing funds? Client: "No." Realtor: "Then we'll just disclose and leave it at that.
What secrets must my realtor keep? Realtors must not, by law, disclose anything personal about their clients or customers to others, without permission. This is new. In the past, the first thing a buyer's representative asked the seller's representative was "So, why are your clients moving?" This is asked to see how urgent the sellers are to move. It has bearing on how low an offer to purchase can be. Some urgent sellers will be more open to lower offers due to urgent needs to get to a new job. But this isn't always true. Other sellers won't lower their price ever. They'd rather keep the place or rent it out and try to sell later.
So, if you want your personal secrets kept safe, tell your realtor. She will use them only to your advantage and only with your permission.
What shouldn't you tell your realtor? If the seller knows about an issue regarding his property that is for sale, and doesn't want anyone to know, he shouldn't tell his realtor. She (the realtor) will, by law, have to disclose the information. The realtor will lose her license if she doesn't disclose what she knows as pertains to material facts of a property.
Why is disclosure good for buyers? Because buyers know that if they are in an open house, for instance, they can rely on whatever the realtor hosting the open house says about the property. She will not hide material defects of the property.
Why is disclosure good for sellers? Now, here's the reason the seller should disclose everything: If, after the sale, the buyers learn about something the seller didn't disclose, the buyers will sue the sellers, the realtor, and the broker; and they (the buyers) will win huge sums of money from the sellers, maybe even have the sale cancelled, and the sellers pay all legal expenses and maybe even punitive damages (big bucks) for not disclosing. So, in real estate, honesty is the best policy. Your realtor will do everything possible to mitigate the impact of disclosures in how she markets your property. She has many tools she'll use to soften the impact of this disclosure.
Tip: Never over-market a property. Allow the buyer to be pleasantly surprised when she sees the home. The last thing any seller should want is for her realtor to write great things about a property that isn't even greater when seen in person. Here's why. If I say your home is in move in condition and then I show it to a buyer and the buyer see's for herself that the property is in serious need of maintenance, I've just lost any chance of a sale to that buyer. But if I say "needs a little TLC but is priced right", then I'll attract a different type of buyer and most likely a quick sale.
For example, Client: "I have a leaky roof but I don't want to disclose it." Realtor: "We have to disclose it. Why? I have an obligation to you, as the seller's agent. But I also have a code of ethics to uphold. That code requires me to disclose all material facts regarding your property to anyone, including buyers. So, let's get this disclosure form completed honestly. Now, let's talk about the budget. Is it possible to get the roof replaced? Client: "No." Realtor: Well, then let's deal with this in our marketing plan. We'll add a line onto the flyer and in our multiple listing service disclosures that says 'Needs new roof, sold as is.' That isn't the best option for most buyers, though. Most buyers want something they can move right into without having additional expenses. Is it possible to agree to pay for the roof repairs after an offer is received and the cost will come out of closing funds? Client: "No." Realtor: "Then we'll just disclose and leave it at that.
What secrets must my realtor keep? Realtors must not, by law, disclose anything personal about their clients or customers to others, without permission. This is new. In the past, the first thing a buyer's representative asked the seller's representative was "So, why are your clients moving?" This is asked to see how urgent the sellers are to move. It has bearing on how low an offer to purchase can be. Some urgent sellers will be more open to lower offers due to urgent needs to get to a new job. But this isn't always true. Other sellers won't lower their price ever. They'd rather keep the place or rent it out and try to sell later.
So, if you want your personal secrets kept safe, tell your realtor. She will use them only to your advantage and only with your permission.
What shouldn't you tell your realtor? If the seller knows about an issue regarding his property that is for sale, and doesn't want anyone to know, he shouldn't tell his realtor. She (the realtor) will, by law, have to disclose the information. The realtor will lose her license if she doesn't disclose what she knows as pertains to material facts of a property.
Why is disclosure good for buyers? Because buyers know that if they are in an open house, for instance, they can rely on whatever the realtor hosting the open house says about the property. She will not hide material defects of the property.
Why is disclosure good for sellers? Now, here's the reason the seller should disclose everything: If, after the sale, the buyers learn about something the seller didn't disclose, the buyers will sue the sellers, the realtor, and the broker; and they (the buyers) will win huge sums of money from the sellers, maybe even have the sale cancelled, and the sellers pay all legal expenses and maybe even punitive damages (big bucks) for not disclosing. So, in real estate, honesty is the best policy. Your realtor will do everything possible to mitigate the impact of disclosures in how she markets your property. She has many tools she'll use to soften the impact of this disclosure.
Tip: Never over-market a property. Allow the buyer to be pleasantly surprised when she sees the home. The last thing any seller should want is for her realtor to write great things about a property that isn't even greater when seen in person. Here's why. If I say your home is in move in condition and then I show it to a buyer and the buyer see's for herself that the property is in serious need of maintenance, I've just lost any chance of a sale to that buyer. But if I say "needs a little TLC but is priced right", then I'll attract a different type of buyer and most likely a quick sale.
Thursday, March 6, 2008
Stressless
Why is your blog entitled “stressless”? A realtor’s job is to anticipate the potential stress situations and to be ready proactively to mitigate them, that’s the goal. I’m not just going for a good job; I’m going for a great job. If I provide so great an experience that my clients refer me and come to me for their next transaction, then I’ve met that goal. But I don’t then rest and be happy. I then get ready for doing an even better job for the next person. I learn from each transaction. I take every opportunity to learn from every experience. How could I have done that better? Today most clients know they can have any realtor add them to the MLS and receive by e-mail all information they’d ever want to know about real estate in their area and price range. I add value because I make a complex real estate transaction simple. I make it simple because I know the process and I take the load off my clients by anticipating their needs and being ready for them proactively.
Let me give you an example of the type of realtor I am not. I attended a training class last month. It was a three-day class. It cost my broker hundreds of dollars for me to attend this class. The class consisted of 12 realtors and one very experienced, very motivating realtor/instructor. There were four of us at my table. The woman across from me arrived hours after class started. She blew her nose loudly all day. She was very personable but dressed in what she called “hippie” attire. I enjoyed talking with her. She said her family recently used a more experienced realtor in her own office and felt that was wrong. That she was entitled to the business of her own family. The second day of class she arrived around lunchtime. Her cold must have gotten better but she was not into the subject at hand and therefore, wasn’t able to contribute productively to the class because she’d missed the foundation of the topic. The third day of class she never arrived at all. When I asked the instructor what had happened to her, he said “I have the feeling she’s the type of person to whom things happen”. Meaning she didn’t plan ahead and therefore wasn’t ready when life moved on without her.
Why am I writing this story? Because I am the opposite of this woman. Have an appointment? Be there on time; be ready, have your homework not only done but organized and ready for presentation; anticipate questions and have answers ready or explain when you’ll get them the information. And most importantly, don’t blame others when something goes wrong: be accountable. If your family doesn’t trust you with their real estate business then you either aren’t trustworthy in their eyes or you haven’t yet proven your expertise. Either way, it’s your challenge. My answer is to turn the challenge into an opportunity to succeed by serious introspection. Issues to consider: Trouble being where you need to be? Get an alarm watch. Not dressed in a manner that allows your family to see you for the real estate professional that you are? Change your style. Customers turned off by your glass-half-empty outlook on life? Learn how to express your thoughts from a glass-half-full perspective. Have too many things happening to you? Decide life is a do-it-yourself job and turn those challenges into opportunities. Your family doesn’t feel you are experienced enough for their business? Change the challenge into an opportunity to prove your expertise. Write what you know in blogs and mailings.
Let me give you an example of the type of realtor I am not. I attended a training class last month. It was a three-day class. It cost my broker hundreds of dollars for me to attend this class. The class consisted of 12 realtors and one very experienced, very motivating realtor/instructor. There were four of us at my table. The woman across from me arrived hours after class started. She blew her nose loudly all day. She was very personable but dressed in what she called “hippie” attire. I enjoyed talking with her. She said her family recently used a more experienced realtor in her own office and felt that was wrong. That she was entitled to the business of her own family. The second day of class she arrived around lunchtime. Her cold must have gotten better but she was not into the subject at hand and therefore, wasn’t able to contribute productively to the class because she’d missed the foundation of the topic. The third day of class she never arrived at all. When I asked the instructor what had happened to her, he said “I have the feeling she’s the type of person to whom things happen”. Meaning she didn’t plan ahead and therefore wasn’t ready when life moved on without her.
Why am I writing this story? Because I am the opposite of this woman. Have an appointment? Be there on time; be ready, have your homework not only done but organized and ready for presentation; anticipate questions and have answers ready or explain when you’ll get them the information. And most importantly, don’t blame others when something goes wrong: be accountable. If your family doesn’t trust you with their real estate business then you either aren’t trustworthy in their eyes or you haven’t yet proven your expertise. Either way, it’s your challenge. My answer is to turn the challenge into an opportunity to succeed by serious introspection. Issues to consider: Trouble being where you need to be? Get an alarm watch. Not dressed in a manner that allows your family to see you for the real estate professional that you are? Change your style. Customers turned off by your glass-half-empty outlook on life? Learn how to express your thoughts from a glass-half-full perspective. Have too many things happening to you? Decide life is a do-it-yourself job and turn those challenges into opportunities. Your family doesn’t feel you are experienced enough for their business? Change the challenge into an opportunity to prove your expertise. Write what you know in blogs and mailings.
Wednesday, March 5, 2008
Agency
Have you bought or sold a home lately? If not, there have been some big changes lately regarding agency. Agency is all about whom the realtor works for. If you call me and say “hi, I’ve found three homes I’m interested in seeing, would you be able to show them to me tomorrow?” I’d say, I’ll call you back after I ask permission from each home owner. Then, if the homeowner approves, we’ll agree to meet. Ideally, we’ll meet first in my office to discuss what you’re looking for and see if these homes meet your needs. Then, in the driveway (if that’s our first meeting), before we enter the home, you must initial a Massachusetts Agency Disclosure Form. This is not a contract. It does not obligate you to do anything. It is strictly a consumer protection form to let you know whom I work for. In the situation described above, we would check the “buyer’s agent” and I’d tear off the top pages and give them to you. Those pages describe all the types of agency legal in Massachusetts. If you do not wish to initial the form, that is allowed by law. I would then have to check the box saying you do not wish to sign. But I still have to write down your name on the form and give you the top pages. This is necessary by law at the first face-to-face meeting. So, if your realtor doesn’t do this at your first meeting, think long and hard about whether you really want to work with them.
Monday, March 3, 2008
Open Houses
The purpose of an open house is mostly about inter-personalization. It allows the agent to interact with neighbors and house-hunters alike. It also is one of the many marketing tools in a realtor's toolkit to offer their home-seller clients.
So next time you see an open house, stop in. Don't be afraid to sign the sign-in book with all the information requested. The worst-case scenario is that you will receive a thank-you card from that agent thanking you for attending the open house. Is that a bad thing?
Use the opportunity to ask questions from the realtor. The agent is there, use their expertise. Ask that question you always wanted to ask. Pick the agent's brain. Realtors are real estate experts, we are in that home for two hours, use our expertise to your advantage.
If you are a regular open-house attendee (or looking for that one special home and that open house is not it), ask that agent to sign you up to receive regular, customized e-mail notices of area properties for sale that you are interested in having that agent show you (or going to the open houses yourself). This service is free to you and you can remove yourself easily from the service when you are no longer interested in receiving the notices.
If you are a neighbor and just want to see your neighbor's home, do it! Agents love listening to neighbors. Speaking about listening, the one thing that surprised me about other real estate agents is that they are nice people, they actively listen when people talk; they are fun to chit-chat with. Enjoying people is what agents do best. So, neighbors, come on by! Hope to see you at my next open house. By the way, my next open house is March 16, 2008 at 8 Frost Lane, Hadley MA between 1:00 pm and 3:00 pm.
Tip of the post: Attend open houses to get decorating and home-improvement ideas for your own home.
So next time you see an open house, stop in. Don't be afraid to sign the sign-in book with all the information requested. The worst-case scenario is that you will receive a thank-you card from that agent thanking you for attending the open house. Is that a bad thing?
Use the opportunity to ask questions from the realtor. The agent is there, use their expertise. Ask that question you always wanted to ask. Pick the agent's brain. Realtors are real estate experts, we are in that home for two hours, use our expertise to your advantage.
If you are a regular open-house attendee (or looking for that one special home and that open house is not it), ask that agent to sign you up to receive regular, customized e-mail notices of area properties for sale that you are interested in having that agent show you (or going to the open houses yourself). This service is free to you and you can remove yourself easily from the service when you are no longer interested in receiving the notices.
If you are a neighbor and just want to see your neighbor's home, do it! Agents love listening to neighbors. Speaking about listening, the one thing that surprised me about other real estate agents is that they are nice people, they actively listen when people talk; they are fun to chit-chat with. Enjoying people is what agents do best. So, neighbors, come on by! Hope to see you at my next open house. By the way, my next open house is March 16, 2008 at 8 Frost Lane, Hadley MA between 1:00 pm and 3:00 pm.
Tip of the post: Attend open houses to get decorating and home-improvement ideas for your own home.
Sunday, March 2, 2008
Perceptions
When I meet someone, as soon as they learn I'm a realtor, the first thing they ask is "How's the market?" I say, great. I can immediately see they don't believe me. But they received that opposite impression by listening to the news! The truth is, all real estate is local. And local real estate (Quabbin region of Massachusetts) is great, especially for buyers. The selection is excellent, sellers know they can't overprice as a result. That means buyers have lots to choose from and realistic sellers. Combine that with years of bad news about home sales, convincing non-motivated real estate professionals to find other careers, and you end up with an excellent real estate environment. Who could ask for more than excited buyers and motivated sellers and agents? I say the answer to that is mortgage availability at reasonable interest rates. Guess what? Mortgage interest rates are very available for qualified buyers. Very-well-qualified buyers with high FICO scores can still get 100% financing. Add to that the just raised caps on some low-to-middle income federal loans and the availability of jumbo loans (loans that are over the limit of regular federal loans) and you are in heaven, right?
I was watching Suze Orman on CNBC last night. She told someone not to buy a home because the market was so terrible. I love Suze but I believe she is very wrong. I have bought and sold seven homes in six states in the last 24 years. I made money on all except one. Who hasn't lost money once on an investment?
Do you have any real estate questions you'd like to post for me to answer?
Tip of the post: Never call the number on the sign in front of the home you'd like to tour. Always call your own real estate professional; you want your own advocate. In real estate you are owed honesty, a financial fiduciary duty, obedience to the client (within the law), loyalty, due diligence, care to see the transaction completed on time and correctly, accountability and responsibility to the client, and disclosure of all material facts regarding the property. When you call the same agent whose client is the home-seller, you loose many of these rights. That's why I advise my customers and clients to call me. They know that even if I don't work in the area where they're buying a home, they know that I (Cathy Jones at Prudential Sawicki Real Estate, 978-846-7398) will either help them myself or refer them to another Prudential agent in the area they're interested in. The reason this is important is that Prudential has a nationwide, rock-solid reputation. They train their agents to keep them current in their profession so you, the client, receive the most stressless experience a real estate professional can provide.
Bye for now, and by the way, will you, or someone you know, soon be buying or selling a home? If so, please contact me.
I was watching Suze Orman on CNBC last night. She told someone not to buy a home because the market was so terrible. I love Suze but I believe she is very wrong. I have bought and sold seven homes in six states in the last 24 years. I made money on all except one. Who hasn't lost money once on an investment?
Do you have any real estate questions you'd like to post for me to answer?
Tip of the post: Never call the number on the sign in front of the home you'd like to tour. Always call your own real estate professional; you want your own advocate. In real estate you are owed honesty, a financial fiduciary duty, obedience to the client (within the law), loyalty, due diligence, care to see the transaction completed on time and correctly, accountability and responsibility to the client, and disclosure of all material facts regarding the property. When you call the same agent whose client is the home-seller, you loose many of these rights. That's why I advise my customers and clients to call me. They know that even if I don't work in the area where they're buying a home, they know that I (Cathy Jones at Prudential Sawicki Real Estate, 978-846-7398) will either help them myself or refer them to another Prudential agent in the area they're interested in. The reason this is important is that Prudential has a nationwide, rock-solid reputation. They train their agents to keep them current in their profession so you, the client, receive the most stressless experience a real estate professional can provide.
Bye for now, and by the way, will you, or someone you know, soon be buying or selling a home? If so, please contact me.
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