Professional Associations

Professional Associations keep their members trained in the latest and greatest tips, honest, in-line ethically and up-to-date in their field. Professional Associations also provide an outlet for the state to regulate/praise/sanction the profession's members, when appropriate. For example, realtors are required to attend ethics courses every four years. Every two years realtors are required to complete four hours of continuing education classes, such as the GRI class.

Today and tomorrow I'm attending at GRI class in Springfield, Massachusetts. GRI is a realtor's training course offered by the Massachusetts Association of Realtors. To obtain this professional designation, I'll attend six such courses over the next many months.

Professional real estate consultants, like me, are members of many professional and business associations. For example, I am a member of the Realtor Association of Pioneer Valley, the Massachusetts Association of Realtors, the National Association of Realtors and the Amherst Chamber of Commerce.

Bald Eagles at the Quabbin

The lead story in the Greenfield Recorder newspaper Governor Patrick Bands Bald Eagle Chicks on an Island in the Quabbin Reservoir. The Quabbin has more than a few pairs of bald eagles. The state has something like 40 pairs. I've seen one at the Pelham overlook on MA-202.

Apparently our Massachusetts Governor took 11 boats, filled with various reporters et al, to one of the 60 Quabbin reservoir islands, to do state and federal banding of bald eagle chicks. The tone of the article lead me to believe the governor has never seen the Quabbin before. As a resident of the north Quabbin, I'm shocked! Who wouldn't make the effort to tour this area?

Neighborhood Pride

What is neighborhood pride? Neighborhood pride is what others see, or don't see, when they drive through your neighborhood. For example, I was driving through the main street in Orange this morning. I saw unmowed front lawns, untrimmed weeks along the roadway. I saw a barn in serious need of paint. In other words, I saw a neighborhood without as much neighborhood pride as it could have had.

Why should you care? 1. Home prices are higher in neighborhoods with lots of consistent neighborhood pride 2. Studies prove that crime is lower in neighborhoods without graffitti, broken windows, or other signs of community neglect 3. Visitors feel more comfortable shopping/buying/eating/walking/driving/living in neighborhoods with neighborhood pride.

As a realtor, if I feel unsafe in a neighborhood, I will not take customers to that neighborhood. I will not discriminate or redline or do anything that violates my professional code of ethics. But if I fear for my safely, I will say so to my customer.

So what can you do today to imprive the pride in your neighborhood? Cut your lawn, trim the weeds at the curb, paint your exterior as needed, do that deferred maintenance you've been putting off. That will improve your property. That's a start. Then continue that by asking your neighbor to do the same. Those two things can start a wave of community pride. Beyond that, go help that elderly neighbor do some of the things they are not physically able to do anymore. Often it is the disabled and aged who are the least able to keep up with neighborhood pride obligations.

Amherst

Location, location, location. That's how any realtor describes an in-town Amherst property that is located in a decent neighborhood. Why? Because that's where "it" is to be for most buyers in the Pioneer Valley, here's why. Amherst has two colleges (UMass and Amherst), a thriving downtown, lots of community activities at the colleges and in the town common, lots of great restaurants, coffee houses and bars. Amherst also has great public transportation of all types (pizza delivery, busses, taxis, bicycle trails) There are museums, an arts theatre, and most anything else young and old desire. So where do people want to live? Preferably within walking distance (or at least public transportation distance) from downtown Amherst!

When I get calls from buyers, usually they insist on living within 15 minutes of Amherst. So, what is a savy buyer to do? Pay the extra and buy in Amherst!

But what if a buyer can't afford a single-family home in Amherst? Then buy further out, like in Belchertown. Belchertown will provide much more home for the thousands less money initial investment. But if suburban living isn't your thing, go for a condo or townhome in Amherst or Northampton.

1st Time Buyer Workshops

Are you a first time buyer and need more information from an unbiased source? Good news! Here's that source: The Franklin County Housing Authority, located in Greenfield, provides workshops for first time buyers. Just look them up online or call me. I'd be happy to help you find the next class.

Tip: FHA has loans for highly-qualified low to moderate first time buyers that go as high at $318,000. If you look up FHA loans online you can see the specific requirements. Or if you'd rather, call your own bank or credit union for more information on loans.

Personally, I'd call Dave Loeffler, First Horizon Home Loans, Peachtree City, GA. Locally, I'd call Greenfield Bank in Amherst first. Right now their 30-year fixed loans are 6.1 something percent for zero points. A point is about 1% per thousand borrowed. Remember: in today's market, the seller will often pay points and even closing costs, even if you offer 10% under the original home price. So with two points (listed in the offer for the seller to pay), you might be able to get that above loan at 5.7%!

"As Is"

Bank-owned properties don't like to advertise that they own a property. They feel that if the public knows the property is bank-owned that knowledge will stigmatize the property. So how does a potential buyer know a property is bank-owned? "As is" is the give-away. If a property is advertised as "as is" you can be pretty sure it is owned by a bank. Other indicators are pre-approval letter, no price-reduction no matter what the inspection says, requirements to sign a long offer form that basically gives the bank all the rights and you, the potential buyer, no rights. And all of the above is required with the offer.

So why would you make an offer on such a property? Because the price is so far below the usual market price for the area you can't resist! Why won't you be able to resist? Because if you buy low and add sweat equity you'll have instant equity. Who doesn't want value?

How do I know the price is right? Call me to do a market analysis. I'll check MLS and see what surrounding properties are selling for, I'll visit the property (if allowed by the seller) and see what features the property has, what the property condition is. Then I'll check MLS for comparable properties (which I will also visit, if allowed and if I don't already know them). I'll use all that information to brief you on what the property is worth according to the market right now. If the price is right, you'll know. If it isn't, you'll know to ask me to show you other properties that might be a better deal.

But in the real world, a comparative market analysis is useless when applied to making an offer on a property, in most cases. Why is this? Because the seller determines the value of their home. If the home is bank-owned, then the bank has had a professional (like me) determine the home's value. The home is then listed for sale at that price. The bank will rarely accept any other price except full price. Only after a certain amount of time will the bank agree to allow the listing broker to lower the price of that home.

Economic Drivers

What drives the economy in Massachusetts? Health care and education drive the economy in Massachusetts, according to today's Greenfield Recorder. What does the Pioneer Valley have times five? Education! Higher education to be precise, i.e., Holyoke College, Smith College, Hampshire College, Amherst College and University of Massachusetts at Amherst. According to the article, these factors tend to remain stable in an economic downturn. In other words, the Pioneer Valley and hilltowns are less impacted by the economic woes the rest of the country is experiencing. Other facts support this conclusion. For example, the housing market in our area is doing fine, and local unemployment statistics are better than the national average. Granted, gas prices are high, but not as high as other places. Why am I talking about this? Because real estate is local. I am a real estate consultant. My expertise is to know local real estate so my clients can make informed decisions regarding the most important asset they own (their home). Call me at 978-846-7398 if there is anything regarding real estate you'd like to know. I'm here to help!