Janet's Open House

Santa’s Home Sale Tips

2010-12-17T10:20:00.000-08:00

The real estate myth that “no one buys a home during the Holidays” is debunked every time another property is sold between turkey dinners and gift wrapping. These past weeks have been exceptionally busy at the office and based on the most frequent questions sellers and buyers ask, I offer Santa’s list of “do’s and don’ts”.

1. “What’s that smell?” Homes have aromas. Some are fresh and new. Some are old and stale. Some harbor animal or smoke odors. Some still have the fish dinner from last night hovering when a buyer is due to visit. There are steps a homeowner can take to clean the air but one must not draw attention to the remedy. If the home is vacant or needs freshening for other reasons, open windows and doors to air the home. During the colder months be sure to time such “airing” so that the home is warm and inviting in time to be shown. Use air fresheners sparingly and be careful when spraying over solid floors to avoid causing slippage. If you use aromatic candles, extinguish them at least twenty minutes before the showing and PUT THEM AWAY. Many buyers understandably assume that lit candles are being used to “hide” odors. A soft, clean scent rather than a strong fragrance should greet the buyer as the door opens.
2. “How about my pets?” I love mine and you love yours but a buyer may not share our devotion to our pets. The buyer, in fact, may have serious allergies or be afraid of pets in the home they wish to see. It is always best to take your pets for a long walk or ride when your home is being shown. I will not soon forget the demonic feline that greeted buyers and me as we climbed the stairs to the second floor. Standing on its back legs with front paws and claws reaching out to do facelifts on everyone, this hissing, growling guard cat saved that second floor with its beautiful bedrooms and baths from ever being seen or sold. On another occasion, a two hundred pound Mastiff with the best intentions appeared just as the front door opened. He cocked his head in a curious position and watched as the buyer ran screaming back to the car. The seller had assured the Realtor that his beloved buffalo would be behind a gate. He was. He simply walked through it in his excitement to make a new friend.
3. “What should I do about my Christmas Decorations?” By all means, put them up. Christmas decorations are warm and inviting and their very glow suggests a happy home and heart. That said, I have a brother who makes it his mission to get a bigger tree every year. Because we have had many decades together, and based on the fact that his wife and children could barely enter the room last year, his living room walls and ceiling will have to be removed this year. As I write, he is in the process of accomplishing the engineering marvel necessary to achieve this year’s “Rockefeller Center” goal. Please keep this insanity in my family and not yours when the goal is to sell the home. Passageways must be kept free and easy to maneuver so that your Realtor need not bring along a buzz saw to show the property.
4. “Is it best to wait till the Holidays are over or until spring to put my house on the market? That depends. If your goal is to sell your home for the most money in the shortest period of time, the answer is to list it now. The buyers are buying now. The rates, although still low historically, have increased steadily over the past few weeks as of this writing. Generally higher rates mean less borrowing power for a consumer to buy your home. The other critical component is that home prices are not increasing despite the rhetoric that occurs during political campaigns. Waiting with the hope of “getting more” for your home in the near future is unrealistic according to every reliable survey in our industry. Know that having your home on the market can be stressful for you and it requires work to keep it in good showing condition. Minimizing stress during the holidays may meet your needs more so than optimizing the chance for sale during this period. As for waiting until spring, know that the fall and spring markets have been described as “more active” in the past, but the market changes of the past few years have affected all trends to the point where an age old home selling rule emerges; “It only takes one buyer.” If that one buyer does not see your home while you are “waiting to put it on”, he will buy another property on Christmas Eve or in the middle of a January blizzard. He has. She does. He will.

Speak to your Realtor about your thoughts and needs. Make this very important decision about your largest asset with the professional help that is invaluable. Kevin, if you are reading this article, and you are thinking of selling your home before Christmas, you may have trouble reaching me. My cell phone has been acting up recently………no, really……it has been……..

Broker/Realtor Janet Hilton is a former practicing attorney and critical care RN who with her husband retired Lynn Fire Lieutenant George Hilton own and operate Country Crossroads Realty at 28 Bay Road, South Hamilton, MA. For expert advice and services in the buying and selling of real estate, call 978-468-5910 or visit www.countrycrossroadsrealty.com. THE OFFICE IS A DROP OFF CENTER FOR TOYS FOR TOTS ……..Our Own Realtor/Marine Lloyd Smith may be reached at 978-853-7655 for more information.

THANKSGIVING TO OUR VETERANS

2010-11-12T07:03:00.000-08:00

It is said “If you can read this, thank a teacher. If you can read this in English, thank a Veteran.” My Father served under General George Patton during World War ll and although he died when I was young, I grew up knowing that he saved me from a life without freedom and that he would have given his life to make it so.

Realtors interact with many Veterans as they prepare to downsize from homes that no longer meet their needs. They have raised their families. They have done their best. It never ceases to amaze me just how grounded and humble they are about their sacrifices that they rarely discuss. I can never begin to imagine what they have seen, heard, felt and smelled throughout history so that I can write about them as I choose.

These are the Services of our Armed Forces and they are the most powerful and righteous warriors in the history of mankind. They stand on the wall in the dark so that we may sleep in peace at night.

1. The United States National Guard, born in Jamestown 12/13/1607, formerly known as the “Militia”, they are our country’s oldest fighting force with roots to the Patriots who shaped our way of life. The Army National Guard has participated in every war and conflict the US has ever fought from skirmishes to World Wars. In more recent times, the Guard protects our country from natural disasters and plays a major role in the war on drugs that threatens our very fabric from within.

2. The United States Army, born 6/14/1771 also with roots to the Patriots, the US Army is unstoppable and continues to remind any foe of our country that the price to pay for threatening our way of life is, historically, the loss of theirs.

3. The United States Navy, born 10/13/1775. Above and below the oceans of the world, the USN keeps enemies from our shores by bringing unimaginable warfare to theirs. They are positioned all over the world and they remain ready to turn on a dime to quell any threat to our country.

4. The United States Marine Corps born 11/10/1775, a department of the US Navy, is known throughout the world as the instant and terrifying response to any threat to our country. Specially trained to quickly deploy and conquer enemy territory until the Army arrives, the US Marines are often both the first and the last American warriors an enemy will see coming over the wall at them.

5. The United States Coast Guard born 8/4/1790. The USCG has the duty of protecting our shores and they do so both inside and outside of our borders. They are also deployed throughout the world as our “police department” at sea and are heavily involved in the war on drugs. As with the United States Marine Corps, the President can deploy them instantly. USCG’s Medal of Honor recipient Douglas A. Munro’s last words were “Did they get off?” after evacuating pinned down Marines at Guadalcanal.

6. The United States Air Force born 9/18/1947 was formerly known as the US Army Air Corps. The USAF like the US Navy projects its military power all over the world. When our ground troops call in for “air support” the clouds open up and terror rains down upon those who have taken up arms against our country.

While there has been so much press and pressure about the condition of our housing market and our economy in the recent years, there has never been a time in our country when Americans failed to find the balance.

The election of 11/2/2010 can be viewed not so much within the context of any particular party, but rather as the collective voice of Americans who continue to rise up against any threat to our way of life whether it is from within our borders or from outside of our borders. We rise up in submarines, PT boats, aircraft carriers, Sherman tanks, fighter jets, helicopters, Higgins landing crafts, parachutes, horseback, boots on the ground, scuba gear…………or in the election booths.

There are certain words that can never be said enough and they can never be said enough to certain Americans. Thank you, dearest Veterans, and Happy Thanksgiving.

REMEMBER WHO YOU ARE

2010-10-28T10:46:00.001-07:00

This week I would like to dedicate my article to a sweetheart of a lady whose beloved home no longer meets her needs. I will call her Maggie and I will tell you that she represents a growing number of our relatives, neighbors and friends who are at a crossroads in life that involves “home being where the heart is”.
Maggie called and asked if we would come to her home and provide a price analysis for her. She and her husband had purchased the home nearly forty years ago when they were a much younger couple. Maggie’s husband died in recent years.
When Maggie answered the door to her lovely home she made little eye contact with my associate and me. She led us from one room to the next and had very little to say as if she were showing two strangers someone else’s home and not the property she called home for forty years. By the time we reached the end of our tour, she was standing at the far end of the kitchen with a distance between us.
It did not take a Sigmund Freud to know that we as Realtors represented something disturbing, painful or both to Maggie. We approached her table and asked if we might sit together for a few moments. When Maggie sat down her arms were folded across her chest and she did not pull her chair closer to the table. Maggie’s heart was not “in” real estate pricing or market details at all. Maggie’s heart was in her home.
I looked toward the many family photos and mementos that lined the walls and asked her about her family. She began to tell us about raising her children and grandchildren in the home. We learned where the holiday parties were held and where presents were opened year after year. She unfolded her arms and pulled her chair closer to the table. She said…. “I am overwhelmed.”
After further discussion we learned that Maggie had been living alone in a large home that required much work both interiorly and exteriorly. Her arms ached from raking leaves and her back would ache from shoveling soon. She could hardly keep up with the dusting and vacuuming of so many rooms that she rarely enters anymore. She said “I love my home and I do not want to leave it.” When I asked if she could hire the help she needed to maintain the home without sacrificing her own health, she said she could not afford it. Once again she said “I am overwhelmed.”
Even if Maggie were to make the decision to sell the home, the rest of the news came as a shock to her. Because her neighborhood had little to no turnover, neither she nor her neighbors had a realistic sense as to what they had been hearing and seeing on the news for the past several years of declining prices. Maggie just had no idea that her home’s value had dropped to the level it had. For her, the housing crisis had impacted “others” and it was not easy for Maggie to learn that she was one of those “others”.
Like many folks in Maggie’s position, there are homeowners who planned to downsize one day and use their long term equity as “retirement” funds. The loss of equity in the housing market has impacted every household in one way or another. It is small wonder why Maggie is feeling “overwhelmed”. She is impacted both emotionally and financially.
If you are reading this article and you can identify with Maggie, here are some thoughts for you as we discussed with Maggie:
1. DO NOT SELL YOUR HOME. Explore all the possibilities that may work for you including the renting of space for financial help and assistance with maintenance. Perhaps a family member or friend needs help too. These times present as many opportunities as they do challenges and you may help each other.
2. SELL YOUR HOME. Know that if you purchase another home that does meet your needs you will be making that purchase in the buyers’ market of lower pricing. It may be a financial “wash” for you in the end
3. DO NOT MAKE HASTY DECISIONS. Every property sells at the right price and time……every single one. It is very difficult to make a decision of such magnitude while you are feeling “overwhelmed”. Please hold off until you have gathered information sufficient to make the best decision to meet your needs.
4. RELY ON TRUSTED PROFESSIONALS. A trusted professional will never say “Sign right here.” when he/she recognizes the signs of one who is “overwhelmed”. Timing is everything and as long as the bank is not at the back door, there is plenty of time to learn what you need to know to make the decision of a lifetime no matter what that decision is.
5. REMEMBER WHERE AND WHO YOU ARE. This is America and no matter what has been thrown in the path of Americans, the journey continues for all of us who work hard and get up every morning with the full appreciation that we are the luckiest people in the world.

AN EARLY THANKSGIVING GIFT

2010-10-14T10:08:00.000-07:00

It was almost impossible to get enough of the coverage of the rescue of the thirty-three Chilean miners as this miracle of life was unfolding before our eyes. The whole world became fluent in the language of gratitude, love and joy as we watched each condemned man fall into the embrace of his family and friends who had waited breathlessly two thousand feet above hell.
As I listened to one commentator after another, it came as no surprise that once again our wonderful country had come to the aid of another with our advanced technology, amazing resources and our unparalleled sense of duty to humanity.
On a day that yet another bank’s delay had caused several lawyers, realtors, sellers and buyers to sit for hours at the Registry of Deeds while movers with trucks full of furniture sat outside homes they could not yet enter, the mood was unusually gay and conversation was uplifting as the hours passed. Though thousands of miles away, joyous events can have a contagious affect on all of us. Positive experiences make us feel good.
It is natural to feel good around the positive and feel bad around the negative. It is so simple a concept that I expect more folks would change the way they look at themselves and our world if they adopted a positive outlook on life. There are increasing numbers of books, seminars and “schools” of thought that espouse the belief that one’s positive thoughts and deeds attract more of the same. Conversely, the opposite is just as true.
Someone you know sees the clouds forming and says “Oh no. No one will come to my open house in the rain.” Someone else you know sees the same clouds and says “Oh boy! Everyone will see that my roof and basement remain dry!” Some one you know has a home on the market and says “It will probably never sell in this market.” Someone else you know has a home on the market and says “I’d better start packing now.”
Someone reading this article has a job she does not love with co-workers who do not appreciate her. It is not possible to hide the negative feelings that always project outwardly and scream “Misery is my co-pilot.” That person would have nothing to lose by looking in the mirror and saying “I am lucky to have a job.” What would it cost that person to hum or whistle a tune at work and put a kick in his/her step? If it is true that positive thought turns into positive deeds and a return on your investment, why not apply it to real estate?
Here are some facts to consider the next time a negative thought about real estate rears its ugly head in front of you.
1. Every single property sells at the right price without fail and every time.
2. The number one reason a property does not sell within a reasonable time frame for that particular market is the price. The number two reason is ineffective marketing.
3. Everyone needs a place to live and properties get sold and purchased in every market.
4. If you must sell at a lower price in this market, you will also be purchasing at a lower price in this market.
5. If you experienced difficulty during this cycle of real estate, know that cycles are ever changing and this is a perfect time to believe that the difficulty will not last.

Recognize negativity and those who would suck the joy out of your life as environmental toxic hazards to be avoided at all costs. Know that for sixty-nine days the fate of thirty-three miners had been in the hands of believers who never say die and with whose powerful collective positive thoughts and deeds gave the world an early Thanksgiving Gift.

GET A REALTOR FOR YOUR “VERY OWN”

2010-09-30T10:33:00.001-07:00

The fall market has kept many Realtors busy and there is plenty of inventory to keep buyers busy as well. Looking for just the right property can be a full time job for buyers whose busy lives leave limited time for their search. There are almost as many real estate sites as there are homes for sale and the process itself can be both confusing and overwhelming. What’s a buyer to do? Get yourself a professional Realtor to call your very own.
Realtors work with sellers when they list properties for sale and Realtors work with buyers who are looking to buy properties. Many buyers already understand the value and peace of mind that comes from working with one Realtor who knows what his/her client wants as well as he/she knows the market and how to find it.
Dan and Margo are renting presently and they spend every spare moment looking for just the right home to purchase. They are not working with a professional Realtor and they have not yet had a professional lender go over their finances in order to provide them with a pre approval letter that determines the price range that would work for them.
After months of driving through communities all over the North Shore and stopping in to countless open houses, they drove by the “house of their dreams” recently. It looked like everything they wanted. When they called the number on the sign they learned that the house was under agreement and scheduled to close the following week. Had they been working with a professional Realtor, they would most likely have known about the property as soon as it came on the market and they would not have lost the opportunity.
Ken and Carla’s home is scheduled to close. They have not yet found their next home. Although Carla thought it best to have a professional Realtor represent their interests on the buying end, Ken did not want to be “tied down” to working with one Realtor. Every Sunday Ken prepares a list of open houses from internet sites he has located. He and Carla pack up the children and drive from one open house to the next. Each time they enter an open house they are asked to sign the guest register. There is a section of the register where a guest can sign in his/her professional Realtor’s name instead of his/her own. Ken and Carla have no such professional representation. In a few weeks they and their children will have to be out of their home and they are scrambling to make last minute arrangements without the assistance of a professional Realtor.
Mark is a first time home buyer. Like many buyers, Mark does not understand the value of working with one professional Realtor whose fiduciary duty is to represent Mark’s interests from start to finish. Instead of choosing one professional Realtor to learn Mark’s exact needs, focus all attention and apply all skills to meet those needs, Mark converses with every Realtor he meets at open houses. He also calls Realtors whose numbers appear on the yard signs and he makes appointments with them to see the properties as he is entitled to do. The Realtors he calls are obliged to disclose to Mark that they represent the interests of the seller. Regardless, Mark engages in lengthy discussions without the benefit of a professional Realtor representing his interests. Mark does not understand that he has disclosed sensitive information about his circumstances that impact his ability to negotiate from a position of strength. The seller’s Realtor must act in the best interest of the seller and in the absence of a professional Realtor to represent Mark’s interests, the seller remains in a far better position.
Mike and Karin have sent out invitations to family, friends and to their professional Realtor for a housewarming party. They understood the value of working with one professional Realtor who understood exactly how to meet their needs. On the same day they closed on the home they sold, they also closed on the home of their dreams that they purchased with their professional Realtor’s constant representation and guidance. They never spent one dime out of pocket for that protection or representation and the transition was as stress less as possible.
“Realtor hopping” or “tail spinning shopping” is for the uninformed who continue to lose out on opportunities, and run amok through a market that can be unforgiving. Every one deserves the kind of experience that leads to a happy home, so choose an experienced Realtor, say a prayer to the real estate gods and off you go!

Always Thank a Marine

2010-09-16T06:55:00.000-07:00

Several months ago I listed a property and was so moved by the owner’s personal story about her Dad that I wrote about it that week. For those readers who may have missed it, I’ll recap briefly because the story has evolved this week.
The owner had purchased the property some years earlier and had planned to have her Dad move in with the family. Her Dad had served in World War ll as a Navy Coxswain who delivered Marines in landing boats to the horrific battles off the Japanese held Saipan and Tinian Islands. His life long devotion to the Marines as a direct result of what he witnessed caused him to say to all who would listen “Always thank a Marine.”
Shortly before he was to join his daughter and family at the WW11 Memorial in Washington a few years back, he called his daughter to say that he would not be able to make the trip. He told them “If you see a Marine, thank him.” Within days he died. After his funeral, his heartbroken family made the trip to honor him and they made their way to the Tinian and Saipan section of the Memorial where they placed a 1941 photo of their young Navy Coxswain.
They saw an elderly man staring down at the photo. When he asked if the man in the photo was their Dad, they nodded and the old man’s eyes filled. The daughter asked “Did you know my Father?” The old man was surrounded by his own family when he answered “You never forget the face of your Coxswain.” The Coxswain’s daughter asked “Are you a Marine, sir?” When he nodded, she said “My Father said to thank you.”
In recent weeks, the property that is tastefully decorated with military and historic memorabilia (no doubt rooted in a daughter’s devotion) went under agreement.
As is the case with many sellers who have not yet found their next home, the seller began to experience the stress of that interim period between homes. Will the right home be found in time? The closing is approaching.
While I was on vacation, the colleague who was covering for me let her know of a property in another North Shore community. While that particular property was not quite right, she drove around the area and it began to “feel like home”. As she turned the corner, she saw the home of her dreams. It was just as she pictured. It was the perfect size. It was just the right style. The neighborhood was perfect. The yard was exactly what she wanted. It was just so quaint and cute. It was also under agreement with another buyer.
My client really began to feel that she would never find a property that felt so much like “home”. She drove to the property again and again just to see it while she begrudgingly continued her search for another property. Toward that end she reviewed dozens of properties and we walked out of several more that just did not feel like home.
I had spoken with the listing Realtor and asked that she keep me posted if the transaction should fall through. She agreed to do so but she added that everything looked like “a go”.
To respond to the growing need for interim housing, several large hotel chains offer programs that meet myriad needs of folks in like circumstances. Just as my client was considering such options, she had one of those “moments” that can only be understood by those who have had such a “moment”. She began reflecting on how she had planned to have her Dad live with her in the home she had purchased with him in mind and that was now about to be sold. While she was having such a “moment”, my phone was ringing several towns away. The listing Realtor was calling to inform me of a most surprising turn of events. The home of my client’s dreams was back on the market. This adorable home is now back under agreement with my client.
As happens in this world to believers of things beyond this world, it was my colleague who was covering for me while I was away who first directed my client to this area that became so special to her. My colleague is a Marine. Just as my client was signing the paperwork that would secure her new home for her, I felt a “strong urge”to make a call to my colleague. When he answered the phone, I handed it to her so she could “Thank the Marine”.

WHAT’S A SELLER TO DO?

2010-09-02T09:58:00.000-07:00

Because the housing recovery depends on the economy’s consistent adding of jobs, it remains unlikely that home prices will increase within the next several years. That said, what is a seller to do?
Generally, there are two reasons why a seller sells his/her home:
1. The seller is under duress due to financial or personal hardship.
2. The seller’s needs change and the low cost of re-buying makes good money sense in such a market.
Sellers who stay informed of the current market conditions are more likely to make the best decisions for themselves and their families. There are as many options available to homeowners as there are circumstances. Here are some thoughts to consider while contemplating the possible sale of your home:
1. You have lived in your home for many years. It no longer meets your needs. You have a good deal of equity in the home and if you sell, you will be buying another home that does meet your needs.
If you find yourself in this category, you are very lucky in deed. No matter what the market price is for your home, as long as you make a purchase in the same market, the “hit” will be across the board. Folks refer to this transaction as a “wash”.
2. Your home no longer meets your needs and although you can afford the mortgage you have little to no equity in the home. Contact a professional Realtor and a qualified lender for advice on how to move forward.
3. You can not afford to pay the mortgage and the bank is at the door. You may be eligible for a loan modification. (Be very careful with this one. Scams are widespread and one “red flag” to avoid according to Fox News Contributor Attorney Bob Massi is when any “promise” is made to reduce the principle. It is not done.). You may also be eligible for a short sale wherein the bank agrees to accept less than what is owed on the mortgage because the home is no longer worth the full amount. Contact a professional Realtor who is experienced in short sales.
4. Your home no longer meets your needs and you are considering putting it on the rental market rather than selling it in a buyer’s market. The key question with renting vs selling is “what is your motivation?” If you wish to rent it out now and sell it “when the market comes back”, the unknown is “when”. You will have to do the numbers that involve the carrying costs of the property through the years of uncertainty against the amount of rent that you would be able to receive to offset your debt. You may also wish to ask as many landlords as you can find about their experiences.
5.Your home no longer meets your needs but you think you should just tough it out until the market “comes back”. Once again, the key is “when” you can sell your home for an amount of money that is acceptable to you. Real Trends publisher Steve Murray, a well known economic authority on real estate trends reports that a home purchased in 2005 (the height of the market) will not be worth that purchase price again until approximately 2018. These figures are based on the long road back through joblessness and historic national debt that is increasing by the moment.

There are some truths that remain clear to those who practice in the Real Estate industry. Every home sells at the right price and time. Everybody needs a place to live. The buyers are buying and the banks are lending. The July/2010 report that showed homes sales at their lowest number in 15 years had more to do with the fact that the April tax credit deadline prompted buyers to act more quickly thus lowering their numbers for July.

What is a seller to do? Keep informed and do not be afraid of this market. It is the lack of understanding that may cost you dearly. Your professional Realtor is your best defense against jeopardizing your assets in a market that does not reward gamblers or lightweights. Good Luck!

STEPPING BACK IN TIME TO SWEETNESS

2010-08-19T08:37:00.000-07:00

There is a saying “If you are lucky enough to live by the water, then you are lucky enough.” Many residents of Rock Pond in Georgetown are among those folks who are lucky enough and they are in the process of saving their sweet little beach from being taken by the town for back taxes.
Decades ago funds were left in trust by a private party to maintain the Rock Pond Beach for the enjoyment of those who had deeded rights to the beach. What has happened to those funds is yet to be discovered, but the story behind the movement to save a special place in the sun is as American as it is heartwarming.
For years the little beach was the focal point of summer where families and friends gathered to relax and enjoy the beauty of Rock Pond. It was so adored by the community that beach chair and blanket space was at a premium and one had to get there early to stake out a spot. The beach was kept clean and a shed was built to store equipment such as rakes and floats that cordoned off the swimming area. The neighbors knew and cared about each other and the Rock Pond community was “lucky enough”.
As happens with the passing of time, children grow up and move away from sweet little beaches. Parents grow older and their needs are often better met in other locations. The dynamic of whole communities can change to the point where neighbors no longer know each other and the only gatherings that take place on sweet little beaches are those of geese and ducks.
The beautiful Rock Pond Beach was left to ruin for years and it was becoming a junk yard filled with trash. There is a sadness associated with the ruination of something beautiful and timeless. Busy with their separate lives, Rock Pond residents continued to drive past the sad little beach every day as it became more of an eyesore than the gem it always was. The task of cleaning up the beach seemed overwhelming anyway and where would one begin if one did? One did.
Kris and Nicole Owens have four children and they live across the way from the beach. Kris began riding his lawn mower over to the beach to mow the grass. He and Nicole then began to clean up the beach by raking up trash and glass particles that would hurt their children. When asked what made Kris begin such an undertaking Nicole said “Oh, he just generally does things that feel right.”
Close neighbors and friends joined them with rakes and trash bags. They made a path to the old shed and rummaged through forgotten floats and equipment. Soon they had the swimming area cordoned off and as more neighbors began to take notice, the old dock began to see kayaks and canoes. One day several weeks ago as Kris was raking, a passerby stopped to ask why he was “bothering to clean up the beach” that was being “taken by the town for back taxes to be sold off as buildable lots.” Kris did not know the man and has not seen him since, but for those who do not believe in “coincidence”, this chance encounter certainly was “meant to be”.
Kris went to Town Hall and found that in deed, the town was preparing to take back the
beach that would be turned over for development. Quickly a committee was formed and fliers went out to nearly two hundred homes that have deeded rights to the beach. Most residents were not even aware of those rights, but many were pleasantly surprised to learn of the additional value to their properties.
The town is now working with the Rock Pond Beach Association who have collected funds sufficient to stave off the taking for the time being. What has happened at Rock Pond, however, goes beyond taxes and taking, raking and cleaning. Neighbors are gathering with friends and families. Children are learning a sense of community as they see neighbors, once strangers, now waving on the way by to each other. What began with one mower and one rake is not so far removed from the barn buildings of centuries ago. People needed each other to develop as part of a whole rather than to merely exist in isolation. There is as much laughter as there is splashing now around Rock Pond and it is absolutely intoxicating.
Perhaps being part of something so uplifting during such difficult times will be a driving force behind many “Rock Pond” movements throughout the country. The Rock Pond neighbors have become “lucky enough” again.

THE TRUTH WILL SET YOU FREE

2010-08-05T12:31:00.001-07:00

We are approaching that time in our country when the voting booths will be opening again for us Americans to control our own destiny. Professional commentators are all over the map with predictions and there is rarely a shortage of propaganda to support claims that further a political agenda.
Propaganda that espouses “how well” we are doing in the ant farming market can hurt ant farmers who rely upon such faulty information. Propaganda that leads consumers to believe that the housing market is improving right now or in the near future is dangerous and can cause the loss of fortunes.
Experienced Realtors have the means by which to provide Clients with information that exists outside the political arena, the TV, radio, print media or internet. Painting a rosy picture of the housing industry may work in the voting booth for a temporary period of time, but in Real Estate, the truth will set you free indefinitely. Here is the truth:

1. The Housing Market continues to decline. Eighty percent of Contracts to Purchase single family homes go to closing within Sixty days. In order to determine the value of a property, all who work in the industry look backwards to compare prices of those comparable properties that have SOLD. We consistently see that the prices continue to decline.
2. There are indicators that can be used to determine future changes. One of these indicators is a “future contract”. When Realtors and industry related professionals such as bankers and appraisers look at the declining number of contracts that have been written for the purchase of homes in the coming weeks and months, the news is instructive. The number of sales continues to decline as do the prices.
3. The leading economic indicators (LEI) show unemployment stats hovering at 10% and despite some reporting to the contrary, the Stimulus Package has not produced the jobs needed to bolster the housing market.
4. Fannie Mae and Freddie Mac shares fell to their lowest since 1992 and 1994 respectively as reported by Wall Street. The sharp decline is thought to be a direct result of proposed legislation that would require the mortgage giants to raise huge capital sufficient to give a break to homeowners whose loans are too burdensome. When investors get spooked, it becomes more difficult for consumers to obtain a loan to purchase a home.

HERE IS THE GOOD NEWS;

As long as a consumer has a handle on what is true, he/she can move through any market and achieve the optimum outcome possible (most amount of equity out in shortest period of time). If you want to (or have to) sell your home, do not wait. You are living in your own bank and it is shrinking. There is nothing you did to cause it and there is nothing you can do to stop it. You must price your property correctly and it will sell. Every property sells at the right price and time.

Know that if you sell one property and purchase another, you may be among the many consumers who refer to your selling and buying as a “wash”. The market decline is across the board. You do not sell “too low” and buy “to
If you are a buyer, there is hardly a better time than these times to make a purchase. The rates remain historically (or hysterically) low and the banks are doing what they should be doing. They are loaning money to folks who can pay them back.

If you are planning to retire in the near future, downsize and you have a good bank account, you may be among those in the best position to buy. The housing prices will remain low. You can sell your home that has accumulated large equity over the years. You can purchase a home that meets your changing needs for cash or a smaller mortgage thereby ridding you of the burden of higher interest rates.

We are not near the end of this declining market and we who read the signs and practice within the industry every day know it. If you do not understand the economic facts that directly affect your fortune, you will lose money. It is that simple.

This is America, thank goodness. Information is free flowing. Read as much as you can and educate yourselves as much as possible about the Housing Recovery. There has never been a time when Americans failed to rise above any/all adversity. We just need to know the truth and no one makes better decisions collectively than Americans do.

LAND OF THE FREE………..AND THE BUILDING COSTS

2010-07-22T07:20:00.000-07:00

Sometimes the frustration of not finding just the right home to purchase leads folks to consider building the exact home they envision. Finding suitable land requires more homework than finding suitable houses that have already undergone the research and development of the land involved in building. Before embarking on a journey that may lead to either your dream home or your nightmare, there are preliminary steps to follow.
Once you have located a parcel that feels like home to you, go to the town (or city) hall to check with the planning and zoning departments. Ask what the long range plans may be that would affect your enjoyment of your property. Heartbreak only begins to describe the aftermath of building a lifelong dream house next to lush natural surroundings that were subsequently cut down to make way for the super highway that had been in the planning for years. There may also be a school or a park planned that would bring all the crowds and ballplayers to your dinner table daily.
If you are certain that a future municipal airport will not be sharing your air space every night, you will want to determine if the land is in a recorded subdivision or lies within unrecorded acreage. Subdivisions come with plats (maps) that will have more updated details than the subdivision plan itself. You would be able to determine if your neighbor had the right to cut down all the beautiful woodlands on his property that had attracted you in the first place. The documents may show that those woodlands may never be cut down and that directly affects the resale value of the home you build.
The plat may show utility easements (the right of use or way over your land) that will restrict or prohibit construction. These easements can not always be seen, but their existence will determine what you can or can not do with the land.
Land within subdivisions generally comes with restrictions that limit the control you will have over your property. Limiting control is not necessarily a bad thing as restrictions exist to maintain certain standards of living and are applied to all owners within that subdivision. Without restrictions, a neighbor could decide to raise attack dogs in an unfenced back yard while another neighbor could express his inner self with lime green exterior paint that irritated the dogs.
Another consideration that must be addressed when evaluating land costs is the topography of the land itself. Is it mostly ledge that must be blasted? Is it on a slope that must be filled in with additional soil? Are there already utilities at the site? Is there water or sewerage at the site or will you have to drill a well and install a septic? The costs to preparing the land for building may be so high that once your home is built on such a top heavy site, you may never get a return on the value invested. After all, it would still only be one single family home in a market that will not reward the preparatory work involved in building it.
Building your own home on the perfect location is enormously rewarding when the research has been as thorough as is reasonably possible. When looking for land for homebuilding, it is imperative that you engage the services of knowledgeable professionals. Your Realtor, Builder and Lender should be with you throughout the process to avoid finding baseballs crashing through your picture window that overlooks the new town dump with aromas that float on the breeze to your patio that sits under the Boeing 747 that roars overhead periodically drowning out the symphony from super highway traffic that appeared after you built that dream home.

SUMMER SAFETY TIPS FOR ALL…….

2010-07-09T07:09:00.000-07:00

You have waited all year and it’s time to relax away from home. According to the Federal Bureau of Investigation, however, statistics show that July and August are the busiest months for burglars who love your being away almost as much as you do.
There are many ways to avoid becoming a victim of these menacing threats to our homes and lives. Here are some tips from the FBI, The Home Safety Council and this REALTOR that may serve to keep your homes secure while you enjoy much deserved time away:

1.Do not leave recorded messages that you are “out of town”.
2.Do not leave any key anywhere except in the hand of your REALTOR, a trusted friend or family member who will bring in your mail and any periodicals or newspapers while you are away.
3.Keep bushes, shrubs and any plantings trimmed under windows so burglars can not hide in them. (If your home is on the market, REALTORS don’t like hidden burglars at all.)
4.Let your trusted neighbors know that you will be away and that you are not expecting any visitors so that they may call the police about suspicious activity around your home. (Your REALTOR is NOT to be carted away)
5.All doors, windows, garages and sheds should have working locks.
6.Be sure the automatic garage door has been completely closed as you leave.
7.Make one last trip around the home to be sure all sliding glass doors, side doors, bulkheads etc are locked and secured.
8.Store ladders securely away in locked garage or shed so that they can not be used to access the home.
9.Use timers for selected lights or outdoor water sprinklers to make it appear that someone is home.
10.Mow the lawn one last time just before you leave. (Tall grass suggests that the homeowner may be away).
11.Put bright lights over porches and walk ways in front and back yards.
12.Do not leave any toys, tools or equipment in the yard.

Have the time of your good lives this summer and come home to your properties refreshed and happy. For those of you whose homes are on the market, just come home ready to close!

Broker/Realtor Janet Hilton is a former practicing attorney and critical care RN who with her husband retired Lynn Fire Lieutenant George Hilton owns and operates REMAX Country Crossroads at 144 Newburyport Turnpike in the Rowley Plaza. For excellence in providing Real Estate services, call the office 978-948-5333 or visit www.countrycrossroadsrealty.com.

SHELTER FROM STORM CLOUDS

2010-06-10T09:30:00.000-07:00

Out of the housing crisis that has wreaked havoc with so many Americans during the last several years have emerged a growing number of families and individuals who are in need of rentals. The growing number of rental seekers is likely to meet head on with a growing number of homeowners who have been on the fence as to whether to sell now or wait “until the market comes back”.

Before the wave of bad loans, falling home values, unemployment, short sales, and foreclosures began washing over our families, friends and neighbors, there were few single family homes for rent. If a family entered into a landlord/tenant relationship, it was most likely with a landlord who owned the home as an investment property. He bought low and chose to rent until he would sell high in a strong market. Typically, the landlord required that the tenant applicant have a strong credit history before he would enter into an agreement for rental. The tenants were often folks who were not in a position to purchase, but could demonstrate income flow and who had good credit.

Difficult times often produce changes in attitude that precede changes in practice. These days are really tough for those who own shelters from the storm and for those who need to be sheltered. Here is who you all are and to the extent that you meet and help each other, I offer the following information:

Tom and Judy have 2 small children. They purchased their second home at the height of the market with a loan that their lender said they could refinance within about six months. It was a choker of a loan and when the market fell down around the high price they paid for their home, they were not able to refinance. The rising interest rate came due and they struggled to keep current as their home quickly became worth far less than what they owed the bank. After two more devastating years, they sought counsel with an accountant and lawyer. On advice of counsel, they filed for bankruptcy. What they did not know was that the attorney had the mortgage discharged despite the fact that it was never the couples’ intent to discharge their mortgage as part of the bankruptcy.

After another year went by, Tom and Judy continued to pay their bank every month on time. When they read about “loan modification” programs, they began to inquire of their bank if they would be eligible. It was during this dialogue with the bank that they learned that there was no mortgage to modify. It had been discharged. As such, not one of their hard met timely payments had been reported to the credit bureaus. They in fact, had no credit history building. When they called their lawyer he said “Just keep paying the monthly bill on time. The bank probably won’t evict as long as you pay them.”

That night the couple stared at the ceiling. The next morning they stared at their children.

If this family like so many hard working Americans knocks on your door knows that they make good money, they respect the property of others and they pay their bills on time. The old standard “credit report” will no longer reflect the whole story in this challenging market.

If you are a homeowner whose home no longer meets your needs, it may very well meet the needs of the Toms and Judy’s out here. We have every reason to believe that home prices will increase again but not for several years. If you are on the fence about what to do with your own home, you may have options that are well worth exploring. We have a number of worthy families who are waiting to meet you. You may need Tom and Judy just as much as they need you until the storm clouds clear.

TEACH OUR CHILDREN WELL

2010-05-27T11:00:00.001-07:00

In May, 1868 General John Logan, National Commander of the grand Army of the Republic officially proclaimed Memorial Day to honor all those who gave their lives in the service of their country.

As a very young girl, I can remember marching in the Memorial Day parade every year and trying so hard not to drop my baton while an ocean of flags waved all around me. As an adult now I reflect on the irony of my Memorial Day parade experience. I was thrilled with my sparkling gold trim on a costume that I was sure dazzled everyone as I marched by. It was a costume to die for. My WW11 Veteran Dad, however, marched along side of me no doubt immersed in his own thoughts about the COUNTRY he loved enough to die for.

The years that have passed since my marching career came to an end have given this “Majorette Idol” time to understand the extreme importance of REMEMBERING the sacrifices of our military. The importance of those sacrifices never diminishes over time.

As of this writing, two very sacred and solemn anniversaries are upon us.
May 31st, Memorial Day is an opportunity to reflect on how vitally important it has always been to teach our children what it took and takes to live in freedom. If we do not make sure that each generation understands and values the freedom they have to make choices, to speak against tyranny, to pursue happiness and attain their own financial goals, we run the danger of becoming the kind of country that needed to be rescued by America in the past.

On June 6, 1944, 160,000 allied troops landed along 50 miles of Normandy France coastline to fight the Nazis. By the end of the day, over 5000 allied ships and 13,000 airplanes had taken back the territory at a cost of 9000 soldiers killed or wounded. The indescribable sacrifice resulted in over 100,000 allied soldiers beginning their advance through Europe to rid the world of such an unspeakable curse.
During the recent years when Americans have been working harder for less, we have experienced the loss of housing, jobs and many have lost hope. There has never been a time in America, no matter what the economic or political challenge faced, that we have failed to focus our collective energy, intelligence and spirit to eradicate any threat to our precious way of life.

While the interest rates are lowering again and home prices are at all time lows, no matter what your individual challenges may be, there is no doubt that recovery is around every corner in America. Whether we are sitting on Easy St, or traveling the Road of Hard Knocks, we owe everything we have to those who gave everything they had. The best way to honor them is to TEACH OUR CHILDREN WELL.

SO WHERE DO WE PUT THE BUTLER?

2010-05-17T08:15:00.000-07:00

Every now and then when I’ve brought a buyer to a newly constructed home I’ve heard “Why would the builder ever put the kitchen on this side of the house?” or “Look how far I have to walk with shopping bags from the garage.” It is critical that builders and all those in the home building industry listen very carefully to what the consumers want. There is ample evidence from such sources such as the National Association of Home Builders (NAHB) and the National Association of Realtors (NAR) that they are doing just that.

Huge consumer groups have spoken and the industry captains have heard. The growing trend in home building today is to provide solutions that are economical without sacrificing appeal and convenience.

In short, through the first two quarters of 2009 the homes that were built were smaller according to the US Census Bureau and more efficient. Home sizes on average stopped increasing in 2008 and began a downward trend in 2009. For the first time since 1992, the building of homes with at least 3 bedrooms was down. The number of homes being built with 4 or more bedrooms has been falling since 2007 and those with 2 or more stories have continued a downward trend since 2006.

In times of economic challenges, huge gas guzzling cars lose their appeal. The same can be said for behemoths that drive up heating and maintenance costs in the ever changing climates of Rowley, Georgetown, Ipswich, and our beautiful North Shore communities. The desire for spacious living area can be achieved without building a huge costly structure. According to the NAHB, one of the top 10 priorities in 2010 would be to build 9-foot ceilings on the first floor for example.

Rooms separated by walls have given way to the open floor plan that remains desirable but is being built on a smaller scale. The person doing the cooking is no longer isolated in the kitchen from family or friends enjoying the company of each other. The functions of each open area may be defined by the placement of furniture or specific flooring, but the purpose is to accommodate multiple needs in a warm, inviting and organized plan.

The top ten home features that builders will be including in 2010 are:
Walk-in closets, Laundry rooms, Insulated front doors, Great rooms, Low “e” windows, Linen Closets, Programmable thermostats, Energy Efficient appliances and lighting, Separate shower and tub in the master bathroom, and Nine foot ceilings.

Among the largest consumer groups that the builders should be listening to now are the Baby Boomers who were born between 1946 and 1964. One level living is easier no matter who is carrying the bundles or laundry and the over 55 buyers have spoken. The top ten features according to the NAHB Baby Boomer survey include in order of preference:

Washer/Dryer in the home(90%), Storage space(84%), Windows that open easily (81%), Garage door opener (73%), Easy to use thermostat (73%), Master bedroom on first floor (71%), Private Patio (67%), Porch (66%), Attached garage (65%) and bigger bathrooms (64%).

Americans have a distinguished history of meeting challenges head-on and an even more remarkable legacy of teaching the world how to do it. Our basic need for shelter from the storm is deeply personal. Whether the home building industry accurately anticipates the consumer need, or listens carefully to the consumer in order to meet the need, the housing needs in America will be met brilliantly. For now, watch for smaller homes with a larger “feel” that include window designs that enhance natural light as well as higher ceilings and clever use of space. What appear to be going the way of the buffalo are sunrooms, butler’s pantries and media rooms. So, where do we put the butler………in the master walk in closet?

Home Is Where a Mother’s Heart Is

2010-04-29T12:38:00.000-07:00

At a time when real estate professionals, economists, actuaries and accountants are busy interpreting data to determine housing trends in order to provide answers for homeowners and buyers, there are some folks whose focus is far from the maddening crowd. One such homeowner has captured this author’s heart and on this Mother’s Day, I share her with all readers.

“Irene” has been married to her devoted husband for several decades and their grown children live nearby on the North Shore. As is becoming more common among families, Irene, her husband, and married daughter’s family have decided to sell both of their homes and purchase a larger home together. Toward that end, I have come to know this lovely family.

When we all first met in our conference room, Irene, who is a little bit of a lady and cute as a button, sat quietly while conversation went on around her. She nodded and smiled several times as her family discussion led to searching for homes in several towns other than the one she had lived in for so many years. Every so often I saw her look down at her folded hands, then put a smile back on her face, look up and continue to nod.

After a few more moments, I asked Irene if she had any questions or towns she might like to add to the list of possibilities. She hesitated before saying “I really love my church. I will miss my church and my friends. I also love my pharmacy. They’ve been filling my prescriptions for years and years.” The moment of silence that followed was deafening and was broken by family who very lovingly assured Irene that they would drive her to her church or pharmacy whenever she needed no matter where they decided to move.

Irene had no desire whatsoever to leave her home that is clearly the center of her universe as much as she is the center of her family’s universe. As time goes by, change becomes more challenging for most of us and moving from one home to another can be very difficult. Irene exemplifies all those precious souls who sacrifice so much for the happiness of those they love. She knows that her children are very excited about the new adventure of exploring large homes with new sparkling kitchens. She is aware of how much work it is for her husband to maintain the upkeep of their present home and she knows that the change that is inevitable is in the best interest of those she loves. Irene wants her family to be happy.

When I visited Irene and “Bill’s” home, there were photos and mementos everywhere to attest to a lifetime of love within the home. While I began to measure the living room, I watched Irene as she ran her fingers over some of the photo frames on a side table. As Bill and I discussed preparing the home for sale, I noticed Irene staring out toward their lovely screen room off the kitchen. Once outside, Irene proudly pointed out the landscaping and BBQ area where “we have had so much fun.”

As the days went by, we began looking at properties and I watched “something” come over Irene. It is the same “something” that holds families together. It is the pure generosity of heart and selfless behavior of a wonderful Mother who will pack up many memories and discard many others for lack of space as the process of moving begins. Without meaning one single word, Irene announced to me that she was “really looking forward to this new adventure.”

True sacrifice is that which is made by one who does so while smiling wider than those for whom the sacrifice is being made so as not to diminish their joy. If you are reading this article, “Irene”, know that the whole world wishes you Happy Mother’s Day.

FORECLOSURES OF THE RICH AND FAMOUS

2010-04-15T10:34:00.001-07:00

Nicholas Cage just lost his Bel-Air mansion in foreclosure the beginning of April 2010 and he is only one example of the famous and wealthy homeowners falling victim to this new tidal wave of foreclosures that is looming over the prime market in the country. The famous actor listed his 11,817 square foot property for $35 million. When he had no offers it went to auction where it had no bids, so the bank took it back.
For the past few years, Americans have been hearing, seeing or living through the tidal wave of foreclosures that has washed out countless homeowners in the sub prime market.
By definition, “sub prime” lending means the practice of loaning money to borrowers who are a higher credit risk than normal. The criteria that are used to determine credit risk (prime vs. sub prime) are the following:
1. Credit scores of 660 or lower
2. Late payment to any creditor within the last 12 to 24 months
3. Collection accounts
4. Any repossession within the last 5 to 7 years
5. Bankruptcy filing within the last 7 years
Interest rates and fees for those borrowers who do not qualify for the prime market (excellent credit risk) will be higher because the risk that the “sub primers” will not repay their loans is higher.
Once the housing prices fell, the sub prime market homeowners began to buckle under the crushing devastation of adjustable interest rates on properties they could not refinance. By the thousands, home owners drowned in the tidal wave of sub prime foreclosures.
Those who are wealthier are generally the last to lose their homes even when they are in crisis because they have so much more credit power, savings and the ability to “move things around” to hold off inevitable foreclosure far longer than a sub primer. Many of the affluent homeowners have lost fortunes that were tied up in industries that have been hit particularly hard by the economy. As evidence that the super rich are about to join the foreclosure ranks with middle and lower class Americans, the number of multi million dollar mansions that were scheduled for foreclosure in February 2010 was 352 nationally. In all of 2009, the number was only 1,312.
One such 14 acre mansion in Westchester NY was listed for $13.9 million in November 2010 and when it did not sell, the bank moved to foreclose. The owner is Richard Fuscone, a high ranking Wall Street executive who filed for bankruptcy to delay the foreclosure on the 18,471 square foot mansion with 2 swimming pools, two elevators, six fireplaces, eleven bathrooms and a seven car garage.
Sources such as RealtyTrac and The Wall St Journal report that banks have foreclosed on homes with $5 million or more owed in Georgia, North Carolina and Colorado. States hit hardest in the country include Nevada, Arizona and Florida. (Nevada reported the highest foreclosure rate in the country). Other states that have reported highest foreclosure rates include Utah, Idaho and Illinois.
These facts and trends from around the country have relevance right here on the North Shore. The foreclosure wave which left so many of our neighbors floundering impacted the home prices around us. This next wave will do the same. There will be homes affected at all levels of value this time and the pricing of the home intended for sale must be very intelligently done to attract buyers who in turn must be able to obtain financing. Prices will not be increasing in the foreseeable future for reasons that are all too plain to see. The federal government had been buying up mortgage backed securities which kept the interest rates low. As of this past March 31st, however, they ran out of money to continue with that program.
No matter what is happening in any market, every property sells at the right price. Just when you think it may not be the right time to sell, think again about your specific set of circumstances and know that as a homeowner, you are sitting in your own “bank” and it is shrinking a couple of dollars a day. If your home no longer meets your needs, arm yourself with the truth about your options and learn how to move through this economy without making costly mistakes with this next tidal wave. How you ask? Call a knowledgeable Realtor before you end up swimming with the fish.

MAKE A DIFFERENCE WITH OUR SMALLER FRIENDS…….

2009-11-04T07:38:00.000-08:00

Over the past couple of years of foreclosures being the sad part of our lives, an even sadder group of victims has emerged in the wake of such devastation. Family pets have been left behind out of desperation or indifference, but whatever the reason, the animals need our help.

It is hard for most of us who love animals to even imagine leaving our pets behind, but before we can attempt to do something about it, it is important to recognize the signs that it is about to happen right under our noses.
Homes that are lost through foreclosure happen for several reasons including but not limited to, unemployment, chemical dependence, uncontrolled credit card debt, disability, divorce or dissolution of partnership. The circumstances that lead to foreclosure do not happen over night, but rather over a long period of time and trouble. Distressed and depressed homeowners, who in better days may always have considered the welfare of their pets, are almost as helpless as the pets they now abandon.

Before a home is foreclosed upon, there are often many signs of that pending foreclosure that neighbors, friends or family members can see including the publication of the address and data in the newspapers as is required by law. Some of the signs of a distressed property include lack of upkeep of the interior, exterior and landscaping. If you know that there is a pet (or pets) in the home, and the family will be moving out, know that it is likely that the individuals will be renting. Most rental properties do not permit pets.

Sometimes the troubled homeowner is so overwhelmed that gathering information to make a decision about the pet gets lost in the chaos. Your intervention before the move can make all the difference in the world to an animal. It may be as simple as asking what plans have been made for the pet. If they have no idea what to do, they may be very grateful to learn from you about the animal welfare agency that is located a few miles away. You may also offer to make that phone call for them to be sure the animal has a chance to be adopted by another loving family in time.
If you are uncomfortable approaching the homeowner for fear of offending, erring on the side of kindness to the animal by at least providing rescue agency literature to the homeowner is a good start.

Communities have Animal Control Officers and Humane Societies that can provide contact information to help these animals before they end up on the street or worse. If you see an animal roaming the streets unattended, or “hanging out” around a foreclosed home, please make that call to the authorities. Sometimes we walk right by an abandoned pet and we never even realize it.

Realtors are in the unique position of seeing first hand what can happen to animals in a distressed property situation. Embroiled in a bitter divorce and facing foreclosure, “John” thought that “Mary” had notified the Dog Officer about having the dog picked up when the moving truck left. The animal had been tied in the back yard. John was mistaken. The neighbors heard the dog barking for what seemed like too long a time and help did arrive.

I remember a similar situation where pet rabbits had been abandoned…..in their cage inside the empty house. Each separating spouse blamed the other for the neglect. Luckily a Realtor found the dehydrated and starving animals in time to save them when she went to evaluate the property. I will not soon forget her anguish and her anger.

These may be hard times, but we can help each other if we keep our eyes open for those who can not help themselves. If you are in a position to provide information to the pet owners before the animal may be abandoned, you may have saved the animal from terrible hardship. If you suspect that an abandoned pet may have been left in or around a home, please make the call to the local Animal Control Officer and report your suspicions.

The new wave of foreclosures will start within a few months and all communities will feel the effects one way or another. We really can make a difference by paying attention to our surroundings so that the only effect the animals will feel is the same love they provide to all of us unconditionally.

FIND YOUR WAY HOME

2009-11-04T07:36:00.000-08:00

As this article goes to print, Senate negotiators have reached a tentative agreement to extend the tax credit for first time home buyers. Because passage of the deal remains uncertain, I offer this information as hopeful rather than factual, but the deal would also include a new credit of up to $6500 to present homeowners. Those homeowners must have lived in their homes for five consecutive years out of the last eight in order to qualify for the credit.

The proposed credit would extend beyond the deadline of 12.1.09 to all real estate deals entered into by April 30 and closed before July 1. Presently the income limits for those to qualify are $75,000 for singles and $150,000 for couples, but the deal would increase those limits to $125,000 and $250,000 respectively.

The tax credit has been a successful incentive that has worked well with the low interest rates and the very low housing prices for first time home buyers. It would be unreasonable to do away with what works especially now.

Changes in lifestyles go hand in hand with real estate. As the homeowner’s need changes with time, so do the living arrangements. After World War Two, our country needed to get back to the business of expanding the family. Cape style homes were built all over the country for the ease with which the family could expand the living area as they needed. The post war boomtown, baby boom and comfortable economy contrast sharply with the economy today, although it has never paid to bet against America.

The morning news today had more of the same “increasing unemployment”, “pending foreclosure” “government takeovers” “roadside bombings” news to start the day. In real estate, however, you always have an opportunity for a new perspective on life.

Today my morning was extraordinary from the moment the door opened and in walked a World War Two hero named Mr. G.

Mr. G is the authentic, tried and true American who rarely speaks of his accomplishments and when pressed about his war experience, almost “skips” over the fact that he was a reconnaissance soldier who served under Patton. In his capacity, as reconnaissance, Mr G. risked his life routinely to go out ahead of the army into enemy territory to report back information vital to the safety of our military and the demise of our enemy.

One of the first to step foot into Czechoslovakia, Mr. G freed the weakened prisoners and replaced them with enemy prisoners. He is the reason we can transact any business at all freely in this country or in any of a hundred others. The morning news should report on what Mr G has done with his life and what he is doing right now as a model American.

After nearly seventy years of marriage to his sweetheart, Mr G now visits his wife every day in the nursing facility the next town over where she must reside. In order that he is closer to her, he is moving out of the home they shared to take up residence at a new facility within sight of where she lives. A more tender love story does not exist and he smiles when he speaks her name.

Mr. G could never have imagined applying for home loans he could never repay. For him, hard work and good living led to a home in the country with a white picket fence, seven children and a dog. Mr. G bought and paid for his home, loved his family who return that love many times over. Today Mr. G signed a lease that will give him a bird’s eye view of the wonderful Rowley facility that takes such good care of his sweetheart.

If the tax credit is extended, it may be that Mr. G’s grandchildren partake of it some day as our country finds its way back to a better economy. For the time being, young Americans can take a lesson from Mr. G, who, despite obvious arthritic pain, moved quickly to open the car door for this Realtor. Mr. G is among the gentlemen who saved our world and he is a gentle reminder that if we follow his lead, we will always find our way home.

Bring On The Buffalos

2009-08-07T09:26:00.000-07:00

What do you do when the moving truck pulls up to the property next to yours and your new neighbors begin unloading Rottweilers the size of buffalos who roar like lions? There are many folks who are terrified of dogs, yet in our society, our “best friends” live among us as cherished family members. There are a number of laws in place that speak to the barking, biting or nuisance caused by dogs, but the very best way to meet the needs of people and pets is to establish good relations with the neighbors from the very start as well as comply with the laws.

For twelve years I owned and loved one of these “buffalos” that could roar like a lion when she wanted to. I had a large home at the end of a dark cul de sac and “Nicki” served as a loving deterrent to strangers who need only take one look at her.

From the very moment I brought Nicki home, I introduced her to the neighbors. As she grew, we continued to walk the neighborhood and always complied with the leash law. If a dog owner is in violation of the leash law and the dog injures someone, courts generally hold the violator liable. No “trace” of Nicki was ever left behind for a neighbor to find.

Even though the neighbors grew to love her and she loved children, I never left her alone with anyone as a strict self imposed policy.

Recently a family relocating to the North Shore from the mid west visited a property and fell in love with it. They have three “buffalos” with massive shoulders and paws like catchers’ mitts. None of the neighbors are aware that the “buffalo bills” may soon be howling at the moon next door or leaving “traces” behind within the neighborhood itself.

New home owners are wise to check with the town hall to learn what regulations exist for pets. It is even wiser to fence in an area to secure the pets and never leave them outside without being monitored.

Presently there is a pair of little dogs in the same neighborhood and they bark at trees, clouds, oxygen and just life in general. They bark when the sun comes up, when it stays up and when it starts its descent. They bark when the moon appears, while it continues to shine, and until the sun begins to rise again. The neighbors will do well not to feed them to the “buffalos” because the Barking Laws in many towns are stacked against the neighbors.

In real estate, we see so much of life behind closed doors. We see the good the bad and the ugly. What is always a pleasure is to see people happy in their homes. It does not take a lot to make most folks happy from what I have learned, but it is most disturbing to see the unhappiness one neighbor can cause another. The fault never lies with an animal when it frightens, injures or disturbs a neighbor. If there is any fault at all, it is usually attributed to the pet owner for not having controlled the pet.

Use fences. Monitor your pets. Bring them inside if they continue to bark after you have determined that it is for no other reason but that the moon is out. Do, however, pay attention to whatever has alerted your cherished family members. They have an uncanny way of protecting us from harm far more than causing it.

Enjoy your new neighborhoods and be sure your pets become good neighbors as well.

I HAVE A NAME FOR YOU…….

2009-07-23T12:47:00.000-07:00

Recently I received a call from a woman who sounded a bit distracted on the phone as she began to explain why she was calling. As I listened to her story, it became abundantly clear why she sounded somewhat “foggy”. She had lost both her beloved parents and her brother within a very short period of time and she was in mind boggling grief. She had never had to deal with legal or real estate matters and now she found herself overwhelmed by the circumstances of her life.

Life altering events can leave a person in a most vulnerable state where decision making becomes almost impossible. It is during times of living in nightmares when the professional services of attorneys, accountants and realtors must be rendered with tenderness and attentiveness that leads to resolution.

In the event that life knocks you down and you do not know where to turn, you may hear well intentioned friends say “If there is anything I can do, just let me know.” In truth, it is just at these most difficult moments when the last thing you can think of is how to ask for help or what help to ask for.

If you can find a way to remember anything during so difficult a time, remember to ask for a referral to a professional. The time to think about who would be your trusted advisor is before something horrible saps your strength. It is most important to ask someone whom you admire for a referral for such time as you may need one. Who guided your friend or co-worker through dark waters and helped them find peace again? Keep that name or (names) handy because if you have no idea where to turn, the terrible times can become worse instead of better.

I have a lawyer in whose hands I place my children, my own legal matters and those of my clients and friends. I have trusted this kind and brilliant man for twelve years. I have a doctor in whose hands I place my health. I have an accountant who, like the other professionals I choose to keep in my life, tells me the truth and keeps my figures true.

The woman who called me in such a sad state had no such trusted advisor. What she had was a blind and desperate need to trust someone and her bottomless sorrow became even more difficult when all three fell far short of providing services or producing promised results.

These times have many folks counting pennies. Although the inventory of homes has begun to move through to closings, many homeowners have been exhausted from the housing challenge and many buyers are also exhausted from searching through the inventory. It is most important to find that special someone with whom you “click”. Lasting friendships with trusted advisors start with obtaining a name from someone you already trust. It is not unwise to interview several professionals before placing your life, your home or your peace of mind in their hands.

Although several months of unnecessary heartache befell the woman who called my office recently, life has changed yet again for her. There are now trusted advisors in place who will see her through the storm and she will never forget what it meant to be so afraid and be left out in the cold. She will also now be the one who will say to a friend in need some day… “ I have a name for you.”

Celebrate the USA…….

2009-06-25T11:42:00.000-07:00

It is a little known fact that the American colonies separated legally from Great Britain on July 2,1776 and not on July 4th. It took two days for the Second Continental Congress to approve the Declaration of Independence during the American Revolution, hence our National Celebration “The 4th of July”.

In his letter dated July 3rd, 1776, John Adams, referring to the birth of our new nation, wrote to his wife Abigail “I am apt to believe that it will be celebrated by succeeding generations as the greatest anniversary festival. It ought to be solemnized with pomp and parade, with shows, games, sports, guns, bells, bonfires, and illuminations from one end of this continent to the other, from this time forward and forever more”.

Our superb experiment The United States of America is like none other in the history of mankind. Above all else, we have kept our promise to each other and to the world that we will preserve, protect and defend the basic right to live free from tyranny of any kind anywhere.
When we celebrate the history of our country, we remind the whole world that the right to live in freedom when threatened is worth any war that has ever been fought however dreadful the reality of the fight. The beacon of hope for which our Country stands continues to draw the world to our borders. As long as our collective view of the world remains steadfastly rooted in the spirit of the United States Constitution, we will right any wrong and overcome any challenge to our way of life.

If the Founding Fathers were observing the debates taking place between and among our political parties, economists and industries today, I suspect they might find that the more things change, the more things stay the same. We are all still “contributing” our ideas as we live in freedom under our precious Constitution. Some of our “ideas”, however, would have caused the Founding Fathers’ wigs to curl.

Centuries ago, there existed the “Debtors’ Prison” where those who could not pay their debts were sentenced. Not only was the debtor sent to jail, but he had to pay to be incarcerated. Imagine what our Founding Fathers would say about the “idea” that our lending institutions developed to create the tremendous debt under which we smother today.
During the housing and credit crisis of the past few years, Americans did not end up in Debtors’ Prison. They ended up in homes they could never afford and those lenders should now be in “Lenders’ Prison”.

The economic forecast for our Country is one of Recovery and it is on the horizon as evidenced in the most recent housing statistics today. Home sales are on the rise despite an inventory that remains high and home prices will likely begin to rise albeit ever so very slightly and over a prolonged slow period of time.

The sales of high end homes remain slow as the banks’ jumbo loan availability is significantly limited. The national inventory of homes priced at 750,000 and above now exceeds 40 months as compared with 18 months in 2007. Until the rates for these jumbo loans improve as well as the high end consumer confidence, high end properties will continue to remain on the market for longer periods of time.

Presently, about one in six homeowners owe the banks more than their homes are worth, but the economists report that most folks are current on their mortgages. The current unemployment rate is nearing 10% but the federal stimulus plan is intended to generate jobs before the end of 2009. It is still believed that unemployment will be high until 2013.
The rates will most likely remain low and the $8000 tax credit for 1st time homeowners will probably be extended beyond the 12/09 deadline.

Housing experts such as International Chairman and Co-founder of REMAX Dave Liniger, instruct that the health of the housing market is directly tied to 3 factors: affordability, interest rates and employment. He notes that there are “positive elements” in the 1st two factors, but that unemployment continues to be the “troubling wild card in the economic deck.” We will recover and we will learn from our mistakes.

Over two centuries ago on July 4th 1777, John Adams went out for a walk at night “for a little fresh air and exercise”. On the first anniversary of the Declaration of Independence, he was stopped in his tracks. All around him he saw the “whole city lighting up their candles in the windows.” Although the new Americans lacked the technological means to communicate their universal joy, it nonetheless abounded through out every home on every street in all the states of the union.

We Americans will continue to light the candles that illuminate the purest way of life the world has ever known. It is precious. It is worth the struggle. It will always be a cause for immense celebration.

Is Real Estate For You?

2009-06-25T08:06:00.001-07:00

Last week I sat with a group of 7th grade girls in Georgetown MA and I asked them what they thought they would like to be when they grew up. Among the future professionals were a lawyer, doctor, veterinarian, two singers, two artists, three fashion designers, a teacher and a whole lot of "don't knows". It occurred to me that in all my years of asking the same question of children, I had never heard any youngster say that he or she wanted to be a Realtor some day.

There are a plethora of TV shows depicting law enforcement. There are more medical shows than one viewer can ever see. Reality TV shows have saturated the networks and shows about the supernatural are on the rise. There are game shows, forensic detective shows, and anti-terrorist shows, but with the exception of real estate "tips" shows, there is no show that centers on the profession of the Realtor.

I think the- entertainment industry has a lot to learn about the heretofore untapped wealth of human interest stories that are; behind every door the Realtor opens.

In practice, real estate has far more to do with developing relationships than it has to do with structures, acreage or properties. Every - possible life event or set of circumstances that can happen to an individual or family has direct bearing on the Realtor who holds the key to the home and becomes a member of the family.

I suspect that most Realtors had little idea what the profession entailed until they began practicing. Even with my background as a nurse/attorney, I learned early on-that there is far more involved and required of the Realtor than bringing parties to the closing table.

The Realtor who is called to the home of an elderly seller whose spouse has just died has a lifetime of memories and minute to minute sadness to address beyond obtaining the square footage of the rooms. In addition, it may be most important to determine what support systems if any the distraught seller has to draw upon during such period of uncertainty.

Divorcing couples will often require the services of a Realtor in order to sell the marital home. These are generally not happy times for families engaged in the process of separation and it is not uncommon for the Realtor to be privy to emotions that range from sadness to rage. Moreover, the Realtor is often scrutinized by little eyes and ears whose lives are torn and it can be heart wrenching to be the subject of their gaze.

So multifaceted can the personal, practical and legal needs of the entire family be during such tumultuous times, that a new Divorce Certification Specialty has emerged within the profession. (The first and as far as is known only Divorce Certified Realtor in New England is located at this office. You may call for contact information.)

The Realtor who approaches the front door of the home he or she listed and finds the door unlocked or ajar has a judgment to make right there on the spot. We caution our Realtors to return to the car and telephone the police immediately for the safety of the Realtor as well as the protection and safety of the clients. There are too many stories of Realtors and or clients who have been the victims of violent crime while engaged in the practice of real estate. at other professional advertises the times, dates and address when the door will be open to a home? The professional Realtor is trained how to avoid and prepare for such circumstances.

On a lighter note, Realtors have opened bedroom closets and have come face to face with apparatus usually found in adults only locations. It has also been the case that the adults were found wearing the apparatus during a scheduled showing they "forgot about".

Sellers report the presence of ghosts to Realtors who would then require that flood lamps be provided for any after hours' showings.

When the seller neglects to secure the cage lid before leaving the home, the six foot boa is more than capable of greeting the Realtor and a prospective buyer at the front door.

Should your water; break during your visit to the Open House, the Realtor will time the contractions till the paramedics arrive.

I believe that one day I will ask the question "What do you want to be when you grow up?" and I will hear "I want: to be just like the Realtor who made a difference in the lives of my family and me."

How Can The Market “Come Back” If It Never Left?

2009-06-09T12:48:00.000-07:00

This morning a young gas station attendant noticed the real estate signs in the back seat of my car. He was very excited as he said “The market is really coming back!” Although the market never left, I knew what he meant as a consumer who learns what he can from the news media. The market consists of a property, a seller, and a buyer period. Properties are bought and sold every day everywhere. Factors such as the economy, supply and demand may affect the market, but the market itself goes on like “Old Man River”.

One key point that appears to be misunderstood by many consumers is the fact that the increase in market activity does not mean increase in home prices. It means increase in the number of homes that are being sold now. Home prices will increase again, but those prices will not be increasing anytime soon. “Real Trends” (http://www.realtrends.com/) is a resource upon which Wall Street and the Real Estate industry rely for accurate research data. The CEO is Steve Murray who found that the prices of 2005 will not be seen again until about 2020. “Standard and Poors” estimates that the price of a property purchased in 2003 has returned to about that same value right now in 2009.

During the height of the market in 2005, a listing Realtor could hang a Purchase and Sale contract out the car window and buyers would chase that car down the street in bidding wars to entice the seller to accept over-asking prices for the high priced properties. In the years that have followed that hay day, the inventory has increased with over priced properties that have languished on the declining market for longer periods of time. In addition, as a direct result of the irresponsible lending practices over the past several years, we have seen the tidal wave of short sales and foreclosures that have contributed to declining prices.

The pricing overall has been corrected and homes are more affordable now than ever. The very low interest rates and tax credits for first time homebuyers have enticed consumers to act now, hence the increasing market activity of homes being purchased.

If your present home no longer meets your needs, price it intelligently, not “hopefully” and it will sell to a buyer who will purchase it intelligently not “dopefully”. One of the most common concerns voiced by sellers is “I don’t want to give my house away and then have to pay too much for the house I buy.” The market exists and continues across the board. All home prices were high in the hot sellers’ market, and all prices began to fall in the buyers’ market. If you sell at a lower price than you had hoped for, know that the seller of the home you wish to purchase has had to do the same with you.

Another common concern voiced by sellers is “I don’t want to put my house on the market until I know which home I will be purchasing.” The key to a successful move is to focus on the sequence of events that must take place for the most successful outcome. Unless you are able to carry two mortgages until your home sells, you must sell your home before you can purchase another. Being on the market can be very stressful for a number of reasons, so here are some tips to navigate from one address to the other and minimize the stress. You must have a plan.
Put your property on the market and price it intelligently with your chosen trusted advisor.
Looking for the right home can be a full time job. Work with your trusted advisor to narrow your search and save countless hours.

Be sure you have an updated pre approval letter from your lender.
Have a contingency plan in place in the event that your home sells before you find your next one. (Selling your home is the biggest hurdle and it should be a cause for celebration, not concern.) Many folks can rent storage and stay with family. One other increasingly popular option for that “in between” time are short term rentals at major complexes and huge hotel townhouse accommodations for relatively affordable costs. These interim accommodation places are on the rise in response to the growing need of consumers. (Ask us here at the “Crossroads” about discounted rates that a major hotel chain offers to our clients who use our name).

Know that when you put the cart before the horse, you will inevitably walk into the house of your dreams only to find that it will be purchased by another buyer who took that leap of faith and got his property sold first. No seller wants to wait until you sell your property when there is a ready willing and able buyer standing next to you at the open house.

The market is not “coming back” because it never left in the first place. Take that intelligent leap of faith and know that every home sells at the right price and time without exception. Good luck and we’ll be here to take that leap with you!

MERCURY RETROGRADE AND YOU………?????????

2009-05-28T12:00:00.000-07:00

This week I heard from two different friends who do not know each other. Many aspects of their lives have been in chaos for much of May, and they called for a friend’s “ear”. During our respective conversations they both noted that “Mercury has been in retrograde” and they attributed much of the turmoil to that phenomenon. While I don’t know a lot about the planets, as a “child of the universe”, I tend to keep an open mind toward phenomena I don’t understand. This morning a client called to discuss a delayed closing. He said he was not surprised that the “glitch” had occurred with the buyers because “Mercury had been in retrograde”.

During times of trouble, it is our collective experience to seek solace or resolution in something greater than ourselves. As the Broker/Owner of a Real Estate company with several Associate Realtors who are responsible for the well being of each and every client, we find ourselves smack dab in the middle of one of the most challenging housing markets of the century. Being able to navigate through choppy waters is critical to bringing “our first class passengers” home safely. While there is no substitute for professional skills, experience and knowledge, I wonder what effect there may be to “Mercury Retrograde” periods on our lives. If it has any bearing on real estate, or even if our clients believe it does, it warrants exploration.

Briefly, Mercury is the closest planet to the sun and it can only be seen at sunrise or sunset. Astronomers note that while Mercury travels in a forward motion, there are times during the year when an optical illusion causes it to appear as if it is travelling in reverse, hence “Mercury retrograde”. Those for whom this phenomenon has great significance note that the Stock Market crash that occurred in October 2008 happened while Mercury was in retrograde. In addition, the presidential election of 2000 occurred during the retrograde period and the winner could not be declared for weeks.

Usually, the effect of the Mercury retrograde period is aggravation. Electronic equipment is said to break down for no apparent reason. (This morning, an Attorney and I discovered that his home and law office equipment had been “bouncing back” emails for no apparent reason. I must admit that my own computers have had their “quirks” this past several days and our very best IT man is at a loss.). While there may very well be a reason for several cell phone failures this week as well, I do not as yet know what it is. Forgetfulness, loss keys, typos, misunderstandings, irritability, flukes and general chaos are said to be standard operating procedure during Mercury retrograde periods.

During the month of May, the Mercury retrograde period was from 5/7/09 to 5/30/09. While the level of real estate activity increased palpably during this spring time with lowest rates and housing prices, so did the level of anxiety among clients with whose lives we Realtors become intimately involved. So many folks were living as if all 52 cards had been tossed in the air and they had no idea where they would land. Many of us Realtors spent additional hours assuring and reassuring our clients this past month. (Many of us spent hours assuring ourselves despite the increasing business!).

The next Mercury retrograde period is due 9/7/09 to 9/29/09. If the Mercury retrograde phenomenon has meaning for you, you may want to call now to list your property while the planets are lining up in your favor. While there is no substitute for professional skills and knowledge, this sure footed Capricorn would prefer to keep chaos to a minimum.

GO SHINE SHOES

2009-02-19T08:05:00.001-08:00

About forty years ago my grammar school aged brother owed 11 cents on an over due library book that he found under his bed. When he asked that my Father “give him the money”, my little brother received his first lesson in financing. With his shoeshine kit under his arm, he set out for the barber shop to earn the money he owed his “lender”.
It is family folklore today that my brother has been debt free since his shoe shining days, but he is one of the rare folks who can make that claim.
Last night the housing package to the Stimulus Plan was unveiled to the country and the mixed reviews will be debated for a very long time. While the economic experts, industry leaders and elected officials have been meeting and holding court with each other over the housing debacle for a period of time, Realtors have been meeting with and holding clients’ hands for a far longer period of time. We know first hand in our own homes and in our clients’ homes that something HAD to be done…even if the plan to help homeowners who can not pay their bills is unfair on its face to those homeowners who have paid their bills….and it is.
In short, 9 million homeowners are going to get a break with their mortgage debt and many more millions of homeowners will not.
“But, Daddy, Bobby’s parents didn’t make him work for the library fine.”
Putting all debates aside, the cold hard facts are that our country’s lenders loaned money to anyone with a pulse for several years. Those folks were all on borrowed time because they could never pay back the loans and tidal waves of foreclosures have been hitting the beaches and driving down the values of all homes everywhere. IT MUST STOP.
In my days as a nursing student, I remember being completely disgusted one day in class when we were taught that live leeches were actually placed on infected wounds because they ate up the dead tissue and promoted healing.
Sometimes it takes a jar of live leeches to clean up a festering wound and save the patient.
The inventory of properties MUST be moved. Increasing the inventory with more foreclosures MUST NOT be allowed. The way to move this inventory and unclog the plug that has “stopped up” the whole world is to make it possible for homeowners to STAY IN THEIR HOMES, for buyers to BUY HOMES, for lenders to LEND RESPONSIBLY.
Two hundred billion dollars will be given to Fannie Mae and Freddie Mac for such purposes as refinancing mortgages and lowering rates. Seventy five billion will be used to modify mortgages into smaller payments so that 9 million homeowners can STAY IN THEIR HOMES. Even without equity in the home, there will be refinancing possible now.
Some specifics include incentives for both the lender and the homeowner to come to the table and rewrite a deal with which both can live. There are additional incentives for the lender and homeowner to enter into a better deal BEFORE the homeowner is late on payments.
Our Constitution remains the greatest experiment in the history of the world and no matter what fix we get ourselves into, we will have the shiniest shoes on the block as we get ourselves out.

SMOOTH SAILING

2009-02-19T08:04:00.001-08:00

The market and the economic stats that affect it have many folks wringing hands, scratching heads and afloat in a sea of uncertainty. We may all be in many different boats, but Captains attempting to navigate through choppy waters without a trustworthy Pilot and an accurate chart is a frightening and foolhardy endeavor.
To avoid ending up in the fog and on the rocks, you must be as well informed as possible.
Real Trends is a publication that tracks valuable stats for both Real Estate professionals and consumers. Steve Murray is the publisher of that well respected resource and the most successful real estate giants of the industry rely on his findings. I recently attended a summit for all New England RE/MAX owners where Steve Murray was guest speaker and the data he shared is invaluable to all Realtors and real estate consumers.
What can we expect for home values in 2009? The best we can expect is that the home values stay the same as they were in 2008, that is, no appreciation and no depreciation. (Buyers, buy that home you’ve been dreaming of NOW). The height of the sellers’ market wherein home values soared during the sub prime debacle was in 2005. Home values have depreciated steadily since that time and we will not see those values again until the year 2020.
When we apply that data to individual consumer circumstances, the Captain now has a Pilot to navigate through the choppy waters. Here are examples of real estate circumstances and the strategies best applied by a trusted Pilot.
1. FACTS:“Russ” owns a beautiful home in a lovely area in town. He wants to sell his home, but he would like to wait until “the prices come back”. He thought that he might rent the home until “the price comes back” to what his neighbor got in 2005. He owns another beautiful vacation home that he loves and he has given thought to purchasing a smaller property in a nearby town rather than own two large homes.
STRATEGY: If Russ waits till the price of 2005 “comes back”, his home will be another decade older and if he rents it during the “waiting period”, it will have the additional wear and tear that comes with rental territory. He will also have the additional carrying costs of repairs, maintenance, taxes, and all that is attendant to being a landlord for many years while he “waits”. It is likely that the large home he considers renting will depreciate further. If he sells it now at market value, he can purchase the smaller property at market value and the real estate transaction can be a “wash”. That which you sell “low” is offset by that which you buy “low”.
2. FACTS: “John and Penny” had their home on the market last year for $525,000. They have homes in two other states and their intent was to sell their large Massachusetts home and purchase a smaller one to maintain a presence near their grandchildren. Two offers came in at about 480,000. (The buyers would likely have come up to $495,000). The sellers were insulted. They had spent a great deal of money adding improvements to the property and despite the downward trend of the market, they would not reduce their price and they came off the market.
STRATEGY: The property is now worth about $450,000 and “John and Penny” have joined the ranks of homeowners who want OUT NOW. Anyone can put a property on the Multiple Listing Service. The key is to get you OFF the Multiple Listing Service for the MOST amount of money in the SHORTEST period of time. With very few exceptions, the stumbling block is the PRICE. The home must be priced just a bit UNDER fair market value because it’s not enough to be a “good” deal. With high inventory, you are in the best position to sell when you are the “best” deal in town. Fair Market Value is determined by comparing a property today with properties that have sold months ago. In a declining market, the savvy Captain and Pilot price the home conservatively and capture the most amount of equity as quickly as possible by doing so. (Multiple offers are born of correct pricing.)

This Pilot advises all Captains that no matter how choppy the water, we can avoid ending up in the fog and on the rocks by charting an aggressive and intelligent course that is based on accurate information. Pilots do not operate from fear of the unknown. We operate from understanding the facts, knowing what we can and can not change, and applying that wisdom to protect our passengers and crew. This Pilot wishes all of you Smooth Sailing.

IT'S CALLED LIFE

2009-02-03T08:15:00.000-08:00

My client, a young man who was just buying his first home, arrived on time for his home inspection. He was beaming as he approached his home inspector and his pure happiness reminded me of the time when I bought my own first home. The young man had worked as hard as any young man I've ever known and the reward for all of his very hard work now had an address and was nestled on a beautiful lot in his favorite town.

As the young man and his inspector walked around the exterior of the home together, I entered what I thought would be an unoccupied home. (Sellers are usually not home during home inspections and the seller's agent was not able to attend the inspection.) When I opened the side door, an elderly woman stood several feet away from me in her kitchen. She introduced herself to me as the seller and she asked if it were "ok to stay" if she kept "out of the way". I reminded her that we were guests in her home and I asked if it were "ok" for us to be in her way for a short time.

The elderly woman forced a smile that failed to mask her sadness and she began to tell me her story. Her husband of sixty years had died only months before and it became financially impossible for her to keep the home that knew a lifetime of happiness within its walls. While she tearfully showed me her husband's military medals, excellent workmanship around their old home and photos that captured their past, I could see my young client in the back yard smiling with his inspector as he was learning more about his new home and plans for a bright future.

As the elderly woman pointed to a family portrait, I saw a large group of children gathered around the holiday decorations that must have filled the room with joy for years. The home would have new decorations and a new family portrait would be hanging someday with more children in it. It's called "life".

The cycle that affects all of us is palpable in the Real Estate industry. We see and address life's changes that bring tears or cheers every day behind the closed doors of the homes we share with our clients for the moments and times in their lives. The documents, deeds, records, reports, contracts, inspections, rules and regulations, are mere stepping stones that lead us from one home to another as we move through life's changes. The Real Estate business is far more about understanding and developing relationships than it is about "transactions".

Sometimes clients share things with Realtors that they do not share with their family members or close friends for a number of reasons, the most common of which appears to be because they "do not want to be a bother." No one wants to leave a home they love even if they appear "unmoved". The simple act of walking through the home and looking through photo albums with them or helping them pack may help them through the process of saying "good bye". Many of these homeowners are one as they go through the process of selling their homes and they could really use a visit or more frequent visits from family or friends during these difficult times.

The elderly woman signed the papers that made her home my young client's. After the closing, I accompanied my young new "homeowner" to his new home. When we entered the property, he bounced from room to room... his rooms. He ran down to his basement. He came upstairs beaming again and as he turned to leave his kitchen, he saw a note addressed to him on the counter. I watched him as he opened the note. I saw his eyes move through the handwritten lines before his face flushed. He folded the note slowly and he put it in his shirt pocket. He said "She is a very nice lady... a very special lady... a very special lady."

"I'D GLADLY PAY YOU TUESDAY FOR A...."

2009-01-27T08:43:00.000-08:00

A young couple attended an open house I was hosting recently and they handed me an offer they had prepared for the purchase of the home. Their offer was substantially lower than the fair market value of this beautiful property (tantamount to offering the price of a hamburger at a fast food drive through in order to purchase a complete filet mignon dinner at the Ritz) and they wanted me to know how they arrived at the figure.

In support of their market analysis, they had downloaded material from one of the many internet sites that have exploded through cyberspace with real estate public data strewn in all directions for the "convenience" of the general public to explore and interpret as factual.

They pointed to columns of figures and addresses of properties that had been on the market and that had sold. They took the original list prices of the homes and subtracted that figure from the actual sale prices of the homes and they used that same computation to arrive at the hamburger price they intended for the purchase of the filet mignon.

It does not work that way. As long as a home is overpriced, it will sit until it grows cold or until it is reduced to what is the fair market price for that home. There are columns of overpriced homes still on the market. Allhomes on the market are in the "column" we can refer to as "the wish list". That original "wish" to realize more equity than the market will bear, will never materialize. Homes that have been correctly priced for the market will beat the closing table within a predictable and reasonable period of time. Homes that have sold are the market and they are the only homes that should be used to compare with the value of any other home.

The records we REALTORS track in the market demonstrate that properties are being priced more realistically and as such, they are coming to closing sooner. The buyers are back.

The young couple with the unrealistic offer is not alone. There are many buyers who continue to approach properties that are far out of their price range and they are often armed with the false notion that "all sellers are desperate". We who practice real estate and really love what we do as REALTORS, recognize that although there are some circumstances where a buyer may come upon a "steal", it is the exception and not the rule. These ill informed buyers appear surprised when the sellers, whose properties have been priced correctly, reject their offers.

The market in which we are working today is in every way a normal market. The frenzy of the sellers' market has run though its normal cycle and has come full circle through the buyers' market to where we are today....experiencing normalization and stability.

Buyers and sellers need each other. In fact, they become each other often and in doing so they can appreciate how it feels to be each other. It is often the case that we REALTORS work with both buyers and sellers, so we understand the perspective of both at any given time. If we take a step back and take a look at the whole picture, it comes down to doing what's best for our families and our selves with such an enormous undertaking as the purchase or sale of our largest asset.

IT TAKES YOUR BREATHE AWAY

2009-01-26T09:02:00.000-08:00

About eighteen months ago a young couple with three small children was in the process of searching for a larger home. Because the “downsizing” market was in full swing, they could not sell their home for the amount that would make the purchase of the larger home more affordable. The weeks turned to months of frustration and uncertainty while the walls closed in on them.
Just when they thought they had reached their level of frustration, their basement flooded the morning of their well advertised open house. As soon as the basement was cleaned up and the problem remediated, their Realtor scheduled another open house that had to be cancelled due to the onslaught of ants that followed the flood.
With limited options, the young couple persevered and reduced the property price again. To their delight, a buyer called to schedule a showing…..just before the heating system started to smoke and required the replacement of vital parts.
This couple believed that “when you are going through hell, keep on going”, hence they reduced the price again and bingo….it went under agreement!
The young couple began to pack up their lives but just before the closing, the young wife was attacked by a swarm of bees in their back yard. She was hospitalized with IV antibiotics to combat severe cellulites in her arm.
With her arm in a sling, she and her now horrified husband continued to prepare to move. There were boxes everywhere in between diapers, dolls and toy trucks. The young wife and children went to the mall for last minute supplies. It was there that she saw the St. Bernard puppy in the pet store window. She and the children stopped in their tracks as the huge puppy pressed its nose up against the window. All the real estate catastrophes of the previous year receded in the big wet eyes looking back at them. The young wife reached for her cell phone.
When the young husband answered his office phone, he could hardly believe his wife’s request that quickly turned to a plea and a campaign to purchase the very expensive and destined to be very big pet. In vane he reminded his wife that they were already in chaos. They could not afford a St. Bernard. With one arm in a sling, his wife was limited to what she could accomplish as it was.
The children joined the campaign. They needed the dog. They would walk the dog. They would clean up after the dog…..honest they would. The dog already loved them back and they all would live happily together in their new home that had a bigger back yard that was perfect for their new dog. Their dog’s name would be Nicki.
The young husband lost the campaign. The closing took place and the big back yard became the receptacle of Nicki’s increasingly larger waste products that only the young husband seemed to notice. The dog food bags emptied quickly week after week and the happy growing dog swiped the coffee table bare with it tail daily. One of Nicki’s favorite games was to run off through the back yard woods any time she could and be chased by the young husband who grew more and more tired of the “game”.
Shortly before this author’s bi weekly article became due, the young husband, whose job requires that he leave for the office at about 3:30am, slipped on the ice in his driveway and fell down very hard outside his home in subfreezing temperatures. Not only had the impact taken his breath away, but he could not move as he laid outside in the pitch dark cold and complete silence.

"OPEN HOUSE"... NOT "ANIMAL HOUSE

2009-01-22T07:44:00.001-08:00

Hosting an Open House provides a valuable opportunity for sellers, buyers, and Realtors to learn more about the property that is for sale, but there is a great deal more involved with an Open House than may meet the eye. Here are some facts to consider about Open Houses:

What an Open House means: The seller has agreed to permit the general public to enter the home for the purpose of looking through all rooms, closets, cabinets, basement, attic, storage areas, and garage in addition to exploring the property's land.

What an Open House does NOT mean: While there is a reasonable expectation that a buyer be permitted to observe the size of closets and the condition of cabinets, there is no permission ever granted to or implied for anyone to touch the sellers' personal property such as furniture drawers, armoire or entertainment center doors or use of any of the home's utilities.

Who attends the Open House? A billionaire lands a private jet at the end of the cul de sac, is followed up the front stairs by an entourage of staff carrying a chest full of thousand dollar bills, and states emphatically to your Realtor "You only want how much for this house? Nonsense! It's worth ten times what you are asking and I have no time for a home inspection. Let's sign." If your Realtor is still conscious, you are what is known in the business as "One Lucky Dude".

If the jet should miss the ramp, however, and your Open House continues, you may expect that your neighbors will be among the first to attend. Although you may view your neighbors as merely "nosey", know that your Realtor recognizes the value of their presence. Neighbors in fact do come in to look around for many reasons, but one reason may be that they would like their friend or family member to live closer to them... in your home.

Many Realtors are doing their own Open Houses on the same day as yours is being done, but they can and will send their buyers to view your home if it is open. These buyers have likely been sent by their Realtors because they are looking for a home like yours. Many buyers have found your Open House on the MLS, or any number of media or internet marketing sites and services employed by your Realtor, and have chosen to attend in order to compare your home with others they have seen.

Other Realtors attend your Open House to preview it for buyers who could not attend and you may receive a call for a second showing. Some Realtors attend the Open House so that they can keep on top of the market themselves. Their's is a welcomed presence always, as it represents an interest on the part of busy professionals who made a point of viewing your home for reference.

Although some attendees may be "tire kickers", know that all behavior is purposeful and even "tire kickers" eventually buy the car.

There will be folks who attend your Open House to look at your choice of colors and get ideas on how to decorate their own homes. Your Realtor will still recognize the value in their attendance. These visitors do not usually come in from over seas to view your new addition as a tourist attraction. They reside in or around your area and they too have a sphere of influence. Your Realtor may receive a call from a billionaire's staff administrator. "I work for an investor who heard about a home from someone who attended the Open House and it sounds just perfect. How soon can you show it?"

There is also the concern about hosting an Open House that every seller and Realtor must acknowledge and address; bad acts.

It is the sad reality that there are individuals among us whose intent is not always honorable. An experienced and trained Realtor knows as much as is possible, how to recognize and protect against malfeasance. While there can not be a guarantee against theft, a seller can benefit from increasing the expose of the property to the market with an Open House, while at the same time mitigating the risks inherent in opening the doors to the public.

All medicines and valuables should be removed from sight. Your Realtor stands in your place at all times during your Open House and as such is responsible for welcoming all of your guests warmly and respectfully as if each has been sent a formal invitation to an elegant gathering. While you would never want your guest to feel uncomfortable in your home, a well trained professional Realtor will know as much as is reasonably possible how to scrutinize and continue to observe all who enter your home from the moment they open the door to the moment they leave without sacrificing that "welcomed" feeling.

Guests will be asked to sign in the "Guest Register" and Realtors use that register to enhance business and make contacts for feedback on the property.

With careful choices and preparation, the Open House is an invaluable tool in the sale of a home. As long as your home has been priced correctly and is well marketed, and if you keep your lovely home as spotless and sparkling as possible, you will be headed toward the closing table before any of those sellers around you who have not done the same.

Also, you may be well advised to keep smelling salts on hand for your Realtor. This New Year already looks great with private jets soaring all around us.

Start Packing

2009-01-16T08:02:00.000-08:00

Your great grandmother’s hope chest that is stored in your attic was as much a treasure to her as was Uncle Lou’s collection of railroad ties was to him. You can hardly remember how long ago it was that you permitted him to store his precious lumber under your deck, but there it all is attracting as many pests as a home inspector can find.

Your son’s enormous collection of yellowed Marvel Superheroes Comic Books, that he could not bear to part with, are still in your basement although he has long since moved away. The box is stacked with many others that are filled to capacity with old Halloween costumes, his first pair of skates, her doll collection and they are propped up against the wall by the speed bike with the broken chain.

No children ever had more toys than yours and no children or ancestors ever left more belongings than yours all over your packed closets, storage bins, garage, basement, attic, crawl spaces, cabinets, drawers....and then there are your belongings.

You’re a chip off the old block. You can not bear to think about discarding Valentine’s Day cards, although you can’t place faces to the names of some of your past admirers. You have the very first potholder you ever made at summer camp. You have every holiday decoration ever given or left to you and unless you have an evergreen tree farm in your backyard, you can never display them all.

Those who have gone before you left everything to the one they loved...you, and now you must make choices that impact your ability to move through your own life changes, or forever be part of the collection.

If you want to sell your home, or if you’re scheduled to close on the home you have sold, the home must be delivered in what is referred to as broom swept condition, that is, empty. Take a deep breath. It can and will be done. Here are some tips:

1. Call the former owners of all that has been left behind and tell them that the deadline for discarding is no later than a date certain. If they have not claimed their treasures, by that date, it will be assumed that they are of no value and they will be removed from the house.

2. Go through your home with a different eye. Take a deep breath and start early. What you do not use, wear, play with, need, want, enjoy, or derive MUCH pleasure from, is hampering your ability to move forward and belongs somewhere else.

3. Sort things. Put stickers on piles to identify valuables from throw aways. You’ll be surprised how many “valuable” stickers will be replaced by “throw aways” as you go through this process.

4. Start early. Pace yourself. Pack a box a day. It works wonders.

5. Call for a dumpster. These huge containers come in all sizes and are delivered when you want them and removed when you are through with them.

6. Ask for help. Have a pizza party and start filling that dumpster.

7. Call your local church or charity and ask how your possessions may impact someone else’s life. You’ll feel a whole lot better about your choices when you know you've made a difference.

Good luck with the changes you are making. Let your Realtor help you every step of the way. We've been there too.

You may call Janet Hilton for a confidential "Sellers' Anonymous" consultation if you can not bear to part with that old dog collar. She can help you get a hold of yourself. RE/ MAX Country Crossroads Realty 144 Newburyport Turnpike, Suite A8, Rowley, MA 01969; Tel. 978-948-5333.

The Sky is Not Falling

2009-01-06T08:12:00.000-08:00

Buyers and sellers who put stock in "Chicken Little" media reports have come to learn through their own experiences that there never was a "bursting bubble". While the near hysterical reporting by some of the more established media may have created the hoopla that has been selling papers, Realtors across the country have in fact been selling properties that are correctly priced for the market they are in.

To be clear, a sellers' market occurs when there are more buyers than there are properties on the market. With very low interest rates, buying frenzies can occur as the home prices soar. A Realtor may characterize such a market in this way: "I could drive down the street while hanging a Purchase and Sale form out the window and buyers would run to jump on it."
A buyers' market occurs when there are more properties on the market than there are buyers. If the interest rates begin to rise, the buyer has less purchasing power and home prices will come down. In many cases, the sellers who reduce their homes in order to sell them, become buyers who now reap the benefit of the reduced homes they wish to purchase.

Every property sells. What cannot be overstated is the number one reason why a property sits too long on the market. THE PRICE IS TOO HIGH.

When your Realtor or Appraiser prepares a price analysis on your home, it must be performed without emotion. Location, condition, age, amenities, updates, maintenance, style, features and a myriad of factors are compared against properties that have actually sold. That does not mean that your Realtor is insensitive to how deeply affected you are as a seller both emotionally and financially by the value ascribed to your home. Realtors are homeowners too, but as professional interpreters of the market, they must be the "messenger" no matter how difficult the content of the message.

Sellers should obtain more than one price analysis on their most valuable asset. Professional opinions may differ and a confident Realtor will encourage the seller to make comparisons. A REALLY confident Realtor will not engage in the business of overpricing merely to obtain the listing. The substandard practice hurts all sellers, buyers and Realtors.

Learn to trust your instincts. You do not have to BE a Realtor, but it sure would take a lot of the heat off if you could BELIEVE your Realtor and choose your price intelligently by going over the comparisons that the Realtor presents to you. Put on your "buyer's hat". Would you pay $XXX for your home when the home down the-street is newer, larger and has a three car garage?

Numbers have no emotion........neither do mortgage pre-approvals, appraisals, comparative market analyses, economic indicators, etc. The best Realtors however sensitive, emotional and compassionate as they may be know that what will bring you to the closing table is their intelligence and ability to price and market your home correctly.

The next time you open a newspaper article that reads "The Sky is Falling and We're All Going to Die!!", the Realtors, Sellers, Buyers, Lenders, Lawyers and Economists who know better, suggest that you do the following to get your money's worth out of that print media. Roll the paper up as tightly as you can and stack it with the other rolled up prints right next to the fireplace. They make terrific kindling. If you do not have a fireplace, you may wish to use the paper to line your bird cage while thinking of what Chicken Little would say in today's market. "The sky is not falling. It's just not the limit."

HEARTWARMING NEW BEGINNINGS

2008-12-30T08:30:00.000-08:00

A few days ago, I looked up from my desk to see a lovely young woman standing at the doorway to my office. She was "picking up a couple of subs" from a favorite food establishment next door to us in our plaza. She said that her father had died in the recent past and she was "just curious" about the place she had called home years ago now that she heard it was on the market.

Many folks share the belief that nothing is left to chance, and this young woman whose father, along with her mother, had taken such good care of her, continued to talk as I searched for an answer for her. The house was no where to be found on the Multiple Listing Service even though she thought that one of "our signs" was in the front yard.

As I continued to look for the property, we began talking about her father, her husband and her children. She said that she was renting, But that someday she and her husband hoped to have a home of their own so that heir children could decorate their very own rooms as they wished, and that they would have their own land on which to play. She said that certain lenders "would not give her the time of day", so that her husband and she had given up on the idea of homeownership until some day in the distant future.

It was the end of the day and our senior in-house loan officer was getting ready to go home to his own family. When he waved good bye, I asked him to come in and meet this young and hard working mother. I told him that she had been led to believe that she and her family could not own their own home at this time in their lives. Moreover, no one had offered to help them prepare for home ownership financing.

The subs would likely have to be reheated, but this young woman was being shown the road that leads to homeownership. It is every person's right to the American dream and it starts by asking "how".

Whether you or someone you know has reason to believe that home ownership is not possible, think again. Lenders simply want to know that buyers will pay them back. Toward that end, there are guidelines and programs in place to minimize the lenders' risks. If a buyer does not meet the criteria today, that buyer can start immediately learning from the professionals who commit to teaching and counseling them right to the closing table. Many professionals regard this vital service as an integral component of our business and as such, the teaching and counseling assistance is complementary. Our mortgage broker spoke with our young guest and they planned to meet the next day. Before I left the office, I looked one last time for the address she had given me. Nothing turned up.
The next day this young lady sat in our conference room with our mortgage broker and I could see through the glass doors that her big eyes were getting wider. When she jumped up beaming and wrapping her own arms around herself, I opened the doors to learn that in fact, she and her family would be living in their own tome sooner than they thought.

We will be “shopping” starting this very week for the back yard where the children can have their own swing set. She has a pre-approval letter in her hand.

It is absolutely critical that new home owners get the education they need to make such enormous decisions that will have great impact on the economic and general welfare of the family. Make no mistake about it. Realtors and mortgage brokers are in the Dream Business, no matter how complicated the forms, laws, rules and regulations may appear, and dreams do come true.

Before she left our office, our soon to be homeowner hugged us. We hugged her right back. I still can't find her old family home anywhere on the market and I don't know what "sign" may have been in the yard where she used to play with her father. I do know that if you read the "signs" along the way, there is very little left to "chance".

SO WHAT IF IT’S HALF EMPTY…FILL IT UP…

2008-11-21T08:58:00.000-08:00

Two weeks ago the news reported that a number of large companies had filed for bankruptcy, but today another hard working American couple is closing on the home of their dreams without complication.
Last week the papers printed that the initial “bail out” would not be enough to stimulate the economy, but another hard working American family obtained the financing they needed for a larger home to accommodate their needs.
Two nights ago the evening news reported that the housing industry “slump” continued to plague homeowners, but we Realtors who work directly with sellers and buyers continue to bring folks together. We are reducing the inventory that historically slows the market, and both the government and the banks recognize that they must not permit another million foreclosures to add to that inventory. Toward that end, they are taking the necessary steps to avoid that additional complication. I know that the outcome will be successful not despite our American way of life, but because of our American way of life.
While we continue to teach the world how to turn challenges into opportunities, our strength and generosity of spirit springs from our free society that is bought and paid for by our military.
Recently, a young Veteran graced our office with his presence. He had served his country well and since his return, he had been renting nearby. He had never owned his own home in the country he had protected with his life. He wondered aloud if he ever would now, given the “news” of our economy. His question begs another…, “if not our precious Veteran, then who?”
After listening to his aspirations, one of our Realtors took him to the home of his dreams. As of this writing, one of America’s finest will likely be sitting in front of his own fireplace before the first snowfall.
Everything and anything can and will happen in America. We remain the greatest experiment in the history of the world and no matter when, how or why we stumble, we rise up stronger for the struggle and the whole world knows it.
Every single property sells at the right price and time. For some sellers, there will be no profit, but rather a mitigation of damages. Over the past few years, whole regions of the country have realized the collective loss of 20% of housing equity. A myriad of increasingly common catch phrases have become all too familiar to Realtors. “This is not a fire sale.” “We’re not going to give it away.” “I’ve already reduced the price too much.” “That offer is insulting.” “But I NEED to get…”
For many sellers the home selling and the home buying experience will be a wash as all values reduce or increase across the board. For many buyers, you will still be purchasing properties at fair market prices. You will not be financed for more than the property is worth and you can take that fact to the bank. Some of you will tell your friends that you “Got a steal.” Some of you will be right. At the end of the day, however, we Realtors will have MOVED THIS INVENTORY thereby unclogging the economic pipe.
Based on our front row seat and our expert opinion, our best advice to our family, friends and clients is to avoid negativity at all costs. Change the channel. Roll up doom and gloom papers for kindling. Listen to music that makes you feel good. CHOOSE to view the glass as FULL and it will overflow.
You live where the whole world wants to be. If you own a piece of this magnificent rock, do whatever you can to hold onto it. If you can not hold on to it at this time, know that these times are changing even as I write about them and you will own another piece of the rock again. The banks are not going away. The houses are not falling into the earth. The circumstances today are fluid and they will change as do our seasons.
While our precious young Veteran puts another log on his very own fire, find your own Veteran and from the bottom of your grateful heart, wish him or her what we here at REMAX Country Crossroads wish everyone of you…….a very HAPPY THANKSGIVING.

PS. In answer to readers’ questions from my article 2 weeks ago about the energy producing mansion, its owners and their company, with their permission, they are Ralph and Stacey Sevinor of Wayne Alarm, 781-595-0000.

PAY NO ATTENTION TO DWEEBS…..

2008-11-21T08:57:00.002-08:00

Media hype sells to some of the folks some of the time, but propaganda does not rule the day with all of the folks all of the time. I recently attended a huge company seminar at Gillette Stadium in Foxboro where the giants in our real estate industry flew in to address us New England Realtors and Broker Owners on market perspective. They came all this way in order to dispel some of the annoying myths and rumors that may sell papers, but frighten consumers.
One of the executives is in charge of all company franchises in Canada; another is in charge of our franchises in 69 other countries all over the world. These two men who have lived through several “down markets” over a thirty year period offer an amazing world perspective that is most instructive to those of us in the business. In my opinion, it is our business to share it with you and it comes from the top of the real estate world.
When the executives arrived at Logan Airport, the morning headlines in a major newspaper fresh off the press read in large bold letters “Housing BAILOUT”. Another headline read “Real Estate-Economic Disaster”. In tiny print on page 27, however, they found evidence of what they knew… “Housing market up 7.4%”.
In Europe, the rules and regulations as well as the practice of real estate is vastly different from our real estate industry in the USA and Canada. We know, for example, that when we put our photos on our yard signs and marketing, that the consumer will take notice more so than when we do not. In Europe and other countries outside North America, the men in the real estate industry tell women NOT to put their photos on their signs for “safety” reasons. It is no coincidence that the men as a rule have more real estate business than the women in these other countries.
In the USA and Canada, we are licensed as agents, Realtors and Brokers. In Europe and other countries, there is no licensing requirement. In the USA and Canada, we do more financing of property. In Europe and other countries, “cash is king”. In the USA and Canada, we require that clear title be passed from the seller to the buyer. In Europe and other countries, the title can be “foggy” as a result of the wartime deaths and displacement of 45 million deeds. One can never be sure that his title is secure. In the USA and Canada we practice “exclusive listings” whereby the seller contracts with one Realtor to market the home for sale to everyone. In Europe and other countries, they practice “open listings” that result in a free for all with no true representation of the seller.
Europe and other countries are now experiencing far more difficulties than we are today in the USA and Canada in large part due to a system that does not lend itself to clarity. The economic crisis is worldwide. It will not be resolved until the housing crisis is resolved. The housing crisis will be resolved only when the inventory on the market is reduced. The market inventory is reduced by selling the homes. The homes ARE selling despite what these annoying little dweebs are “reporting”.
What would hamper the recovery would be the “dumping” of more bank owned properties (REO’s) onto the market thereby increasing the inventory and diminishing the value of all properties even further.
As a result of lawsuits against a major lending institution, a major bank announced a strategy that would keep millions of families in their homes by lowering the interest rates, reducing principle, and forgiving penalties. If this strategy is adopted by other lenders, the housing crisis will not be exacerbated by the millions of foreclosures that would follow were these measures not employed.
If you are threatened by foreclosure, you may find yourselves in a better place if you qualify for the loan modification. If you are a homeowner who struggles to pay down your debt and you do not qualify for such a program, you may be understandably resentful and frustrated. Know, however, that if your neighbor’s home forecloses, it will directly impact the value of your home and the housing crisis will proliferate if we can not keep these foreclosures to a minimum.
Presently, because we must at all costs avoid growing inventories that slash and burn our home values and equity, the whole world has turned to the Realtors and implores us to “SELL THESE PROPERTIES.” As a Realtor, I turn to you and say “WHEN WE PRICE THEM CORRECTLY, THEY ALWAYS DO.” Just don’t look for it on the front page of most media.

“Kwitcherbellyaching”

2008-11-21T08:57:00.001-08:00

“Kwitcherbellyaching!” That’s what I heard for much of my youth from parents who had suffered and worked harder than most of the generation they produced. There was plenty of life between “Kwitcherbellyaching” and “Use your head for something besides a hat rack.” That life was chock full of love, laughter, tears and a strong work ethic. It was rooted in family who passed through Ellis Island and suffered fools badly. There is a common thread that runs through families like my own, although it seems a bit harder to find on the news these days. I wonder what has happened to personal accountability.
I sat glued to the news this week as hundreds of politicians, industry captains and economy experts offered opinions about the state of our economy and country. I heard frightening words. I saw panicked expressions. I watched hands in the air and fingers pointing across party lines. I listened with a Realtor’s ear as I heard one accounting after the other of how we “ended up” like this with the housing market and that we “ABSOLUTELY HAVE TO BAILOUT THIS INSTANT” to survive as a nation. I then heard somewhere within my “hat rack”……nearly unperceivable, but definitely thick with a familiar old brogue…… “Kwitcherbellyaching!”
The ability to obtain financing for housing has always been inextricably linked to one’s ability to pay. The process of lending responsibly is central to safeguarding the American dream for those who have worked hard enough to achieve it.
Within the past recent years, however, two things happened. First, a “Ponzi” scheme developed whereby if a consumer had a pulse, he was granted money that he would never be able to repay. Certain “Ponzi” conspirators who are responsible for this abomination made a lot of money from bad loans. Secondly, too many Americans who have a duty to protect all Americans did not “use their heads for something besides a hat rack.”
We Realtors are not in the business of housing just anybody. We house Americans who have more opportunity to realize dreams in the most extraordinary “experiment” in the history of the world we call the Constitution of the United States of America. We walk Americans up the steps to their first homes. We open the doors to second and third homes as the family dynamic changes over years of working hard to advance through the housing market in America.
Our democracy based on capitalism works and it works like a charm in the housing market. If you want to own a home, work hard, save as much as you can and pay your bills on time. If you want to own a bigger home, work harder, save more and pay your bills early. Following that age old philosophy will put you on the road that leads you to the bank, to me and to your own new front door.
Those who would conspire and collude to take from those who have to give to those who have not would fair better somewhere else in the world with a society that does not encourage and reward hard work.
The housing market has reacted normally to the bacteria with which it has been infected. What we have witnessed is not the “bursting of a bubble”. We are seeing first hand the draining of a purulent boil. As one who has practiced in both the healthcare field and the real estate industry, I know that the healing starts when the puss has been drained and the wound is cleaned.
Even as I write, the banks will not give money to anyone unless they have demonstrated even more carefully than ever that they can pay it back. As a Realtor, I know that the festering boil is over and that is a good thing for my business and for my country. There will never be a property that can not be sold and there will never be a bank that can not lend to a buyer who is qualified to buy that property, so “Kwitcherbellyaching” and “Use your head for something besides a hat rack.”

ARE THE BANKS DOING ENOUGH??

2008-11-21T08:56:00.001-08:00

One of the largest and most beautiful homes in Rowley is located in the most desirable location of this precious town. About one year ago the owners called me and asked that I assist them in the sale of their most valuable asset .Their many children had filled the rooms with love and laughter for most of the several years they had lived in the home that they built, but the laughter stopped when an impossible interest only second loan came due and the value of their property plummeted as the rate rose.
Several Real Estate agents before me had tried to sell the property, but the market was dropping at a faster rate than the home was reducing in asking price. It languished on the market as a result until it grew cold as over priced properties always do.
By the time I listed the property, the banks were closing in on a family whose credit had been pristine throughout their lives. They were now facing bankruptcy and foreclosure with a home full of children and an elderly family member. The large family found themselves with no where to go.
While the property remained on the downsizing market, another family had visited the home, loved it, and had been monitoring the price. They hoped against hope that the property would reduce to within their price range. It did. This family, who also had several small children, put their home on the market for the sole purpose of purchasing the big beautiful home they loved. They priced their home for less than they had hoped to realize, but they knew they would have to price aggressively to sell it in order to move on to the home of their dreams. Their strategy worked. Ecstatic, they began packing for a closing the following month.
In order to pass ownership of a property from one family to another, there must be clear title, that is, no liens or other claims may exist on the property. When there are two mortgages (liens), there are often two different banks involved and each bank must release the lien it holds on the property. If the lien is not voluntarily released, it is either paid in full, or the bank agrees to accept a lower payout. The lower price agreement is called “short sale”.
Although both families were represented by competent Realtors, and Attorneys, all parties and professionals were caught in the sticky web between huge banks whose combined liens exceeded the value of the home by close to a quarter million dollars. After countless communications with the second bank whose lien had been discharged by the Bankruptcy Court, the sellers, Realtor and closing Attorney had all been told by the “decision maker” that the releasing of the lien had “passed all levels of approval” and the last approval, from the “investor” should be “emailed by 5pm.” It never came.
Months of impossible complications with the banks passed as both families moved into rentals with the hardship and disappointment that was palpable within the walls. The second bank “decision maker” could not find the file and none of the many bank representatives including management personnel could recall the representations made to the family, the Realtor or the Attorney. Moreover, the bank itself was “downsizing” and hundreds of employees were “let go”.
The heartbroken family whose purchase of the big home would have saved the other devastated family from foreclosure and further damage to their credit had no choice but to withdraw from the transaction.
Almost half a year had passed since the time when two banks could have agreed to a plan whereby everyone would have benefited had everyone given something to make it work for all.
As I write, the aggrieved seller, Mother of five, with an indomitable spirit, responded to an ad about foreclosures that she saw from one of our Senator’s Office this week. She hopes that by sharing the financial and emotional nightmare that she experienced first hand with bank incompetence and indifference, another family may fair better than hers.
After hearing her story, the Senator’s Office called for the file on this big and beautiful Rowley home. He will not like what he sees has happened to these two lovely families for no good reason. As difficult as it has been to witness such indifference to the clients we grow so close to, I would much rather be the Realtor than the bank right now. This young Mother is a force to be reckoned with and the Senator’s Office, I suspect, is a mere starting point.

HURRICANES AND YOU

2008-11-21T08:55:00.000-08:00

Like airplanes following one after the other, the season’s hurricanes are coming in for landings. When those storms beat their angry wet fists on New England homes, the damage and turmoil can be frightening and heartbreaking. There are many things we can not control, but let’s take a look at what we can do for our families and our homes to prepare for these events. Many of the following suggestions derive from FEMA and www.ready.gov.

The Saffir-Simpson Hurricane Scale classifies huricanes into 5 Categories (#5 being the worst) according to their central pressure, wind speed and the potential for damage.
Generally, we here in New England do not experience the Category Three and higher storms, but the Category Ones and Twos are dangerous enough with wind speeds up to 110 MPH. Such sustained winds damage mobile homes, roofs, vegetation, signs (PROTECT ALL REMAX COUNTRY CROSSROADS SIGNS AT ALL TIMES), small crafts and cause flooding from torrential rains.

TIPS FOR PREPARING YOUR HOME:
To prevent broken glass, cover your windows with plywood. (Tape does not prevent windows from breaking) Stay indoors and away from windows and glass doors. Close all interior doors and secure outside doors. Do not leave any outside objects untethered as they could be propelled through the air by the winds. Trim trees and shrubs well to guard against breakage, falling limbs and damage. Clear loose and clogged rain gutters and downspouts. Turn the refrigerator to its coldest setting and keep the door closed. Turn off propane tanks. Fill large containers and/or the bathtub with a supply of water for sanitary use such as flushing toilets and cleaning.

TIPS FOR PREPARING EMERGENCY SUPPLY KITS:
Include non-perishable food, water, a battery powered radio, maps, extra flashlights and batteries. The kit should include copies of prescription medications and medical supplies as well as bedding, clothing, sleeping bags and pillows. In areas where the major storms cause such severe damage, residents are urged to make copies of important documents like social security cards, driver’s license, wills, deeds, birth, and marriage certificates as well as proof of residence and tax records. Pet supplies and prescriptions as well as unique family supplies such as infant formulas belong in such emergency kits.

TIPS FOR FAMILY/FRIENDS PLAN:
Have a plan in place for how you will make contact and get back together with your family and/or friends should an emergency event occur. Cell towers can be compromised during storms, so establish agreed upon places both inside and outside your immediate neighborhood where you will meet. Agree upon a central phone contact number. An out of town long distance contact may be in a better position to communicate among separated parties than one who is at a phone number right across the street. Identify several places you could go such as a friend’s home, Keep at least a half tank of gas in your car at all times. Take your emergency kit with you.

We are superbly lucky to be living in New England where the seasons afford us the spectacular colors and climate changes that keep us energized and our beautiful surroundings the envy of those who can only visit. It is most sobering, however, to see the news coverage of hurricane damage suffered by others a thousand miles away and look around our own New England homes one more time before we retire for the night.

Stay safe and be prepared this season. Know who and what you will cling to when the winds blow.

THE TRUSTED ADVISOR…..

2008-11-21T08:53:00.001-08:00

This week a woman came to see to me about a career in Real Estate. It took no time to recognize her keen intellect and good heart. Two decades ago she had earned a scholarship to a fine college, but her parents who had come from the “old country” discouraged her and she did not pursue her dream. She does not hold anything against them. “They did not mean any harm.”
Because she had always loved houses and people, she obtained her real estate license as soon as she graduated high school. At the tender age of 18, she joined a small company and sold three properties in her first year. Although she loved it and would have been hugely successful, she left the industry to marry and raise several children. For years she helped make ends meet by running a children’s day care out of her home. She also managed offices for companies part time and did their books and accounting at night.
For all of these years this lovely woman continued to love houses and people. She was drawn to open houses where she soaked up all she could learn like a sponge from Realtors she studied. She read the classifieds and studied the prices and trends “out there”. She researched market values and different companies on line.
She sat forward as she listened to how the industry has changed over the years when she was changing diapers. For someone who had not practiced in decades, she had an impressive handle on the rules, regulations, laws and standards of practice.
Moreover, she knew her surrounding markets and I found myself engaged in a conversation as stimulating as any one I have enjoyed with the Realtors I most admire.
She wondered if she would be “right” for the profession. She still had one more child at home, but did I think there was a possibility of her re-entering the world of real estate she loved? Would it be worth it for a company like ours to “take her on”? She would certainly understand if it took “too much time” to bring her “up to speed”, and she thanked me for even taking this amount of time with her. She “knew how very busy” I must be.
When you need a Realtor, you look for certain qualities that assure you that you are in the hands of a trusted advisor. When you are a real estate company, you look for the exact same qualities in a Realtor. Many folks can pass a test. Many licensed folks can practice within the rules and regulations. Not everyone earned a full scholarship to a college she was forbidden to attend, yet still hold no ill feelings toward parents who meant “no harm”. Not everyone has sacrificed professional and economic advancement for decades in order to contribute to a more perfect world by raising good and decent new inhabitants. Not everyone has self taught herself to organize and run the businesses of others. Not everyone has such passion about homes and such genuine warmth for those who wish to sell or seek homeownership.
This beautiful and intelligent young lady who sat “wondering” in my office this week is your neighbor. Her children have played with your children and she has wiped their little noses in her day care center for years. She is the curious guest who showed up at your open house, but was “just looking”. She is the “go to” person who stays up all night with sick children, whose schedule rivals the busiest CEO’s schedule all day, who pays the bills, negotiates better deals with office vendors, and manages budgets with creditors. She is also exactly what we look for when we say “trusted advisor” and we can hardly wait see her pretty face on her own yard sign soon. You’re going to love her!

THE ROAD HOME

2008-11-21T08:52:00.001-08:00

It is not uncommon to feel completely alone with a difficult set of circumstances. Sometimes the challenge of making it through another week can be so overwhelming, that paralysis sets in thereby exacerbating the problem. There is always a road that leads into a problem and there is always a road that leads out. Here are some sets of circumstances in Real Estate with corresponding roadmaps “out”.

You can not sell your home now for what you owe the bank.

First, know that the number of folks in your exact situation is so enormous, that the Federal Government has been moved to act in order to avert a national catastrophe. The “bail out” may or may not apply to or be timely for everyone, but each homeowner should contact the Loss Mitigation Department of his respective lender and begin dialogue that helps pave the way. As importantly, you should contact a Realtor who can act as your trusted advisor and work with the banks. Not all Realtors have the unique experience and contacts to clear the road ahead, so be sure your Realtor is one of us who does.

You want to sell your home, but you do not know if you should “wait till the market is better”

The first question to ask your self is always “What is my motivation to sell?”
If your starter home walls are closing in around you and you need a larger home, it is not likely that any market itself will hurt you. Generally, properties sell at higher prices in a sellers’market, and they sell at lower prices in a buyers’ market. That means that if you sell your starter home for a lower price in a buyers’ market, you will turn around and buy your larger home for a lower price in the same buyers’ market. You may also consider the fact that when you buy a more expensive property than the one you sold, any appreciation that occurs over time can be far greater than that which you would have realized had you remained in your smaller home waiting in line for the bathroom.
If you are considering “downsizing”, your motivation for change may be different, but the principle is similar. If the maintenance and costs of your larger home no longer meet your needs, it is time to find a property that does. Although there will be less equity to realize from the sale of your larger home, you will likely not be spending as much for the smaller property.
If you own multiple properties, you must figure in the carrying costs and overall maintenance to hold onto the properties. There is no guarantee associated with the market rising again. While you wait an indefinite period of time for real estate to “start appreciating” again some day, the carrying costs may never be offset by a future sale.

You are waiting for the market to “hit bottom” before you purchase a property.”

No market is stagnant. Sellers sell to buyers in any market. Buyers buy from sellers in any market. The market for the past few years has undergone its natural correction and the “bottom” is determined in large part by the level of activity, days on market, and final sale price. We are now looking up on this rollercoaster ride as evidenced by what we Realtors see and hear before the media ever has any idea what’s going on. The pricing is far more realistic. The sellers are far more receptive to learning from their Realtors how to “prepare” the property for sale.
The buyers who have been “watching” certain properties now find they are too late. The properties they desired have sold. Buyers who tell us they “can’t go see the newly listed property for a few days” lose their opportunity to those who did make the time and are scheduled to close.

The news on this “road” is positive and exciting for both sellers and buyers. For directions “home” use the map with which your experienced Realtor provides you. For swatting insects, lining bird cages, starting BBQ’s, and training puppies, use the negative newspapers.

THE TEETH IN REAL ESTATE LAW

2008-11-21T08:51:00.000-08:00

The young couple was expecting their third child and they found the larger home they wanted. Because they could not sell their smaller home in time, however, the larger home was sold to another family who was ready to buy.

The couple’s disappointment from the failed transaction was palpable and to add to the stress, the young father’s job security was tenuous at best. As the tension within their small but happy home was mounting, the young mother began having symptoms that threatened the pregnancy for which the doctor ordered strict bed rest.

Within weeks the couple’s Realtor had their little home under agreement for full price and only days later, had them under agreement for a far better home than they had “lost”.
Life was good again and the young mother’s symptoms were improving. The sellers were moving to Colorado with their five small children and they were also thrilled to be “on their way.” There would be back to back closings of both homes and the movers had been scheduled.

Days before the closing, the young couple’s Realtor received a late night call from the sellers’ Realtor whose voice was shaking over the phone. “The deal is off. My clients can not go forward with the sale. You will likely see it in the papers tomorrow, so I’ll tell you that the wife is in jail. The husband just called to say that he will not be moving to Colorado. His wife ‘snapped’, was wielding a huge knife, and had to be taken in a straight jacket from the home. The children are with the grandparents and he is a mess. He won’t make any more changes right now and he told me to return your client’s deposit. I am so sorry for all of this.”

The young couple’s Realtor listened quietly to the distraught Realtor on the other end of the phone. Even as she listened to the heart wrenching details of a family in terrible crisis, she knew that nothing short of a meteorite demolishing that home would stop the transaction. She said “The closing will take place exactly as the parties have agreed.” The caller was incredulous and said “The seller told me the deal is off and he will not under any circumstances sell this home to your clients. The wife is in jail! What am I supposed to do?”

What that Realtor explained to her caller is important for all buyers and sellers to understand before they enter into a contract as serious as is the Real Estate Contract to Purchase. The Real Estate Contract exists to protect the parties and it comes with its own teeth. Two of these legal teeth are called “Specific Performance” and “Lis Pendens”.

These legal remedies derive from old English law during such times when the economy was rooted in the land. The remedy for breach of contract is almost always money. Real Estate, however, is so very unique, that money is not always an adequate remedy and the courts will order “Specific Performance” ……. “Hand over those keys as you agreed to do”.

Once a buyer has been informed that the seller intends to breach the Contract, the buyer can file a “Lis Pendens” (notice of action pending) with the Registry of Deeds. Title companies are not likely to underwrite a policy for the property in dispute in that event and the seller will not be able to close with anyone else.

The young couple’s Realtor said “I can only imagine how very difficult your clients’ lives are at this time and I can tell by your voice that you are beside yourself. My clients, however, have already lost one house and my young Mother has almost lost a pregnancy that has been made worse by the stress from near job loss as well. Their own home is now under agreement and they will be homeless themselves if your sellers do not meet their obligations and vacate that house before the closing. Tell your seller that life as he knows it will become far worse for him if he does not comply and if he has any doubt, he should check with his lawyer immediately. His home has already been sold, but he will face all the additional court costs and attorneys fees that will result in his challenging these laws.”

The closings occurred back to back and the family in crisis found adequate temporary housing.

The stories are endless and they are written under the subtitle “Life”. When the story involves Real Estate, however, understand that the Contract into which you enter is written under the subtitle “Law”.

Home Inspections I Have Loved

2008-11-21T08:47:00.002-08:00

Over the years, there have been some home inspections that will forever be etched in my memory. One such experience occurred several years ago with an old Victorian mansion in an exclusive community. The buyers, a young married couple, had lived in the middle of a bustling city outside of the state. Now they had found a property that was located on ten acres of green velvet lawn and the pond to the side of the home added the perfect touch to this story book setting. The sellers accepted their offer.

As the buyers walked around the outside of the home during the inspection, the inspector continued to comment on the excellent condition of the exterior. The buyers could not have been happier with this exquisite home on this perfect sunny day. The buyers, however, were not the only ones who were enjoying the sun. What appeared to be an old brown fallen tree trunk lying across a miniature bridge in the pond began to change shape when the buyers approached.

“The roof looks ok from here, but I’ll have to check the attic as well.” said the home inspector. The buyers and the Realtor stared up at the roof. “The sills look like they’ve been well protected by the gutters.” the inspector said. The buyers and the Realtor looked at the sills. “I wouldn’t worry about the pond over flowing in a storm or causing any basement problems because you are far enough above it.” he continued. All eyes focused on the sweet little pond and the huge brown tree trunk that now moved its bulk almost in perceivably.

“Is that…is that a…..do you see that…..…..?” The city slicker was nearly incoherent as she mumbled to her husband. His face had a tortured twist to it as his mind raced to determine if he would ever see the property he loved again. As he took his wife’s hand to lead her away from the pond, he said “That’s the fakest looking snake I ever saw. Boy, these folks have a weird sense of humor, don’t they? I just love this place.” No one seemed to notice the cloud of dust left behind by the Realtor as the wife said “Imagine buying a fake snake like that for such a pretty pond? What’s wrong with these people?”

We Realtors have a legal obligation to put our clients’ interests before our own. Some circumstances, however, cause us to wonder what we were thinking when we took such an oath.

Several months ago, there was a home inspection where the buyer was extremely superstitious. He never walked under a ladder. He took care around mirrors. He was very wary of black birds, as they represented bad omens to him. As his Buyer Realtor explained to the Listing Realtor, the buyer would be doing an exorcism immediately after the closing incase there were any evil spirits in the home.

Just as the buyer came back inside from walking around the back yard, his Realtor came running into the house to find the Listing Realtor. “Quick!! Hurry!!!”..”the patio” he whispered. The Listing Realtor looked out onto the patio and there to her horror was a huge dead black bird that had apparently just dive bombed into the sliding glass doors. Some would cite the Law of Attraction as evidence that the buyer’s own fearful thoughts brought the black bird to the home inspection. The Law of The Realtor, however, dictates that we do whatever it takes to put our client’s interests before our own.

The Listing Realtor still has nightmares about raking a huge dead black bird from the patio across a ½ acre of land as quickly as its bobbing beak would allow in as casual a manner as possible so as not to draw unnecessary attention given the fact that there was an exorcism planned anyway.

Whether the basement floods, the pipes burst, the roof collapses, the ants come marching a million by a million, the toilet overflows, there are mushrooms growing in the attic, or the Rottweiler goes into labor on the oriental rug, rest assured that the undaunted Realtor will find a way to rise above Anacondas and Evil Spirits.

KEEP THE FAITH

2008-11-21T08:47:00.001-08:00

Foreclosure rates in Massachusetts and New England are rising, but that does not mean that each of these homes will be foreclosed upon. The term “foreclosure rate” means that a homeowner’s loan is in the very first stage of foreclosure because of overdue payments. (There were 799 foreclosure deeds in January of 2008 compared to 350 in 2007, an increase of 128% in Massachusetts).
We Realtors are now seeing that many of the distressed homeowners are able to sell the home just in time to avoid the foreclosure, thereby avoiding further damage to their credit. While we would much rather see our neighbors and friends remain in the homes they love, when between a rock and a hard place, the goal must be to make decisions today that protect your options for the near future.
Home ownership is the American Dream. It should never be out of an American’s reach for too long. Presently, if a foreclosure is on one’s credit record, some lenders say that it will be at least ten years before that applicant will be granted another home loan. While there is legislation intended to improve the harsh repercussions of our times, the cavalry is still over the next hill.
One such homeowner is a proud and hard working husband and father. He purchased a beautiful home just as the market prices began to decline and he got caught in the crossfire. Like many homeowners, it took him several months before he had reason to understand the mounting pressure of increasing rates and the declining value of his home. By the time he called a Realtor, he was overwhelmed by the cannons in front of him.
It is not easy to discuss sensitive matters with another and he was hesitant to disclose how bad things were to a Realtor he hardly knew. We Realtors wouldn’t like it either, but please let us help now because time is of the essence. We must know certain details in order to map the way home again.
Information critical to a successful outcome include among other details:

Exactly what is the bank owed? In order to close on a property, the bank must release the lien. If there is a second lien, both banks must release both liens. In the event that you owe more to the bank(s) than you can get for the sale of your property, it is best that the Realtor you choose be familiar with the process of “short sale” also known as “debt forgiveness”.
Exactly what is the property worth? The Realtor you choose must interpret that price correctly despite a figure that you would rather hear. It is essential that you not waste valuable time reaching for a price that you will never be able to realize while the cannons are rolling toward your front door.
When the house sells, where will we live if we can not obtain financing right away? Your Realtor should be right by your side throughout the process of transitioning from homeownership to temporary accommodations until the smoke clears. (Fox holes saved my Father’s life in World War Two, so stay put till the bullets stop zinging by overhead). Presently, there are properties on the rental market because the owners have not been able to sell them for the prices they want and they have the option of taking them off until such time as the market changes. In addition, several large hotel chains have answered this growing need for rentals with larger units that are comparable to small homes. Many of these units are pet friendly and this office is providing our clients with the details they require in increasing numbers.
How do I protect or improve my credit after this difficult period? The Realtor you choose should have the names of reputable professionals who can help you with credit repair if you need a referral.
Do not ever lose faith in yourself or your absolute right to the American Dream. Arm yourself with those who know what they are doing and take that leap of faith that bonds us to each other in times of need. We’re standing right on the front line with you.

A Realtor’s Happy Father’s Day Message

2008-11-21T08:46:00.001-08:00

This Father’s Day, REMAX Country Crossroads would like to honor the many Fathers whose dedication to their families, homes and land has left a lasting impression this year.
Although the actual names can not be disclosed, this Realtor hopes you and those who love you will recognize exactly who you are.
“Kyle”, a Father of several small children faced a world of hardship this past year. He lost his job, equipment, vehicles and the bank was closing in on his first and only home.
When I met with his wife and him, it was to sell his home as quickly as possible before it was foreclosed upon. They had no where to live and no chance of obtaining financing for another home. Despite the enormous disappointment and relentless stress, he always greeted his family and this Realtor with a smile.
During the hottest days of last summer, he worked like an army to tidy up the large yard and transport unending loads to the dump as he cleaned out a century full of “stuff” from in and around the home he was losing. He scraped and painted in the heat. He spackled and shoveled. All the while, his children were watching and the lesson they learned from this good man? “Life may come at you hard, but you work just as hard to come through.” “Kyle” would leave a new owner with a neat clean home because it was the right thing to do. “Kyle” also would leave a lasting impression with this Realtor.
“Tom” is a well respected man within the community. He has worked very hard for the success he has achieved in business and he has a well deserved reputation as an honest man. “Tom” also has an adult child who suffers from a chemical imbalance that has held the family hostage in a world of hurt. “Tom” has made every effort to give his child an opportunity to live as normal a life as possible. Toward that end, he purchased and furnished a small home for his troubled child and let much of his business go as he struggled to meet the increasingly difficult demands associated with such illness. The life altering sadness has not diminished “Tom’s” devotion and dedication to maintaining his child’s home for as long as he could. He never complains and he never loses faith.
“Tom” is another giant who greets each morning and this Realtor with a smile.
“Jacks” and “Georges” and “Bills” and “Mikes” and “Charlies” and “Jims” have plowed long driveways and shoveled icy walkways when their backs were breaking at the end of long days. They did so because their families needed to be safe and their Realtor had scheduled an open house for the next day.
“Patricks” and “Ralphs” and “Waynes” and “Alans” and “Davids” and “Nicks” have worked overtime shifts and second jobs to pay for interest only loans with increasing
payments that have wreaked havoc on the family life. They have never complained and they have done everything they have been asked to do to prepare their homes for sale in a market that has been most unkind to many. They greet this Realtor with a smile and this Realtor wishes them the BEST FATHERS’ DAY EVER.

Great Deal or Great "STEAL"?

2008-11-21T08:44:00.000-08:00

The sellers’ home is gorgeous. The location is most desirable. They lowered their price twice and just in time. As evidence that they are well priced, two offers were about to be written up and faxed over to the listing Realtor. The listing Realtor advised both of the buyers’ Realtors that they were in a multiple offer situation. (Multiple offers are rare in a buyers’ market unless the property is a great deal.).
One of the buyers’ Realtors said “My buyers have been looking for over one year with me for just the perfect home. If they don’t get this house they’ll be crushed!” The other Realtor called to say “Oh, no. You might know it. Just when the perfect house for my guys comes along, there is another offer.”
Both buyers’ Realtors advised their buyers accordingly and they both submitted their “best and final offers”. To the surprise of the listing Realtor and the sellers, neither offer came close enough to the now under market price of the property that these buyers “just had to have.”
As evidence that sellers in increasing numbers have had just about enough of buyers still looking for a great “steal” rather than a great “deal”, the sellers rejected both “best and finals” outright to the surprise of the buyers and their Realtors.
Within days, the same listing Realtor received an offer on another property. The buyers explained how they had arrived at their low offer by sharing their “personal perspective” on the market as well as their “unique mathematical formula” by which they had “calculated the true value” of the property they desired. The sellers responded to the buyers’ “personal perspective” and “unique formula”. The buyers need not “calculate” in the cost of a moving van too soon.
When the print, TV or radio media report conditions in the real estate market, they do so after researching many factors that are most often out dated by the time they are reported to the public. The true test of real estate market success can be found in the “sold” statistics. The word “sold”, however, is past tense and so, by definition, is that report. By the time the report appears, it is often based on the last two or three quarters, not on what is currently happening.
In order to take today’s real estate market pulse accurately, the stethoscope must be placed directly over the beating heart of the market. Realtors sit at sellers’ kitchen tables and take those pulses. Realtors report disappointing news back to their buyers and take those pulses.
The market is shifting right in front of all of us.
Sellers and buyers have grown used to the vernacular that reflects the buyers’ market. Buyers commonly use the term “low ball”. Sellers say they will not “give it away”. As a result of the pricing correction we have all experienced over the past few years, the property values stand corrected. The feeding frenzy is over and it’s time to recognize the signs of a normal market shift. Unreasonable offers are being rejected outright rather than being countered by the sellers.
The rates are down as expected as are the property prices. It’s an excellent time to get a great deal. It is also an excellent time to reflect on the 7th Commandment rather than lose an opportunity to own the home you “just have to have.” Good luck, shoppers!

HITTING OUT OF THE PARK

2008-11-21T08:43:00.001-08:00

This week a Realtor called me to schedule a showing for one of our properties. When I told her that it had just gone under agreement, she said “Oh, no! Another one?” She told me that it is her practice to schedule several properties 48hrs in advance, and she had made appointments to show 10 homes. Within that two day period, however, 6 of those homes were no longer available. They had all gone under agreement with other buyers.
Last week another Realtor called to tell me that he was still stunned by a series of failed offers he had submitted on behalf of his buyer/client. The Realtor wrote up a full price offer for a home that was fairly priced and “just what the buyer wanted”. The seller’s Realtor, however, received two other offers and the seller chose the best of the three. The buyer’s Realtor and he found another well priced property, submitted a full price offer, and lost the property to an offer that was “over the list price”. The buyer’s Realtor could hardly explain these two failed full price offers on properties that were not in any stage of short sale or foreclosure whereby one may see multiple offers close to, at or over full price.
The buyer had been “looking around” for over one year with this Realtor, but had just become serious about purchasing a property. The Realtor and buyer found a third property that would work “just fine” for the buyer. This time the Realtor and the buyer submitted an offer that was “over the asking price.”
When the call came from the seller’s Realtor that the seller had chosen a better offer, the buyer’s Realtor said he sat and just stared at the phone. ARE WE NOT IN A BUYER’S MARKET? Just when the Realtor thought he’d never see his client again, the third property agreement fell through. This time the Realtor and his client were carried by the real estate gods over the finish line.
Many of the higher end homes that have been on the market for well over one year are also experiencing a level of activity that heralds changes in the real estate industry. This week a Realtor with a multimillion dollar property was responding to three different buyers who have been “watching” the property for over a year. As of this writing, the parties are in negotiations and nearing agreement.
Something is happening all around us. Those who choose to look backwards and continue to broadcast gloom and doom will publish “sky is falling” articles that should be used to line birdcages.
Just this morning, I turned on the TV and instead of hearing about murders, fires, explosions, political infighting, gang wars, and steroid injected athletes, I sat transfixed to a story about a college girls’ softball game. With two on base, a rather diminutive and not so distinguished player hit the ball over the fence. As she rounded first base and her teammates were heading home, her ACL tore and she fell in agony to the ground. Several of her team members approached the umpire and asked if they could carry her around the bases. The umpire gave his ruling that the moment her own team touched her, she would be out. On hearing the ruling, the opposing team members asked the umpire “What if we carry her around the bases?” The umpire said that the rules would permit that. Gently, two members of the opposing team lifted the injured girl. They carried her to each base and by reaching home plate, they had lost the game and would not be advancing to the series.
When the injured player said “Thank you”, they answered “You hit it out of the park. You deserve it.”
While we can not always control the circumstances with which we are presented, we can choose how we perceive them and operate within them.
Sellers and Realtors have been working very hard to understand the market changes and adapt to them. The buyers are responding accordingly. There is a growing sense of wellness returning to many markets within the North Shore area. Every time a transaction comes together as a result of fairness and good will, the parties will have “hit it out of the park” and everyone will have won.

HAPPY SALES TO YOU

2008-11-21T08:42:00.001-08:00

When one party sells a home to another party, the process of coming together on price and terms can be emotional. We Realtors see and hear much of those feelings some of which can be uncomfortable, but most of which are understandable and can be short lived. Communication and expectations between the parties must be clear, reasonable and respectful.
In a sellers’ market where there are few properties from which to choose and a surplus of buyers looking for homes, the seller generally has more control over the price and terms because of the supply and demand. When several buyers are competing for that one property available on Maple Street, as long as the asking price is not over the bank’s financing guidelines, the seller can get “over asking” for the home in what we call a “bidding war”. Moreover, the seller is not likely to see any additional demands such as “leave the dining room set, Waterford chandelier, and the Lexus as gifts when you move out”.
In contrast, in a buyers’ market where there are many more properties than there are buyers, the dynamic shifts especially if the property is overpriced. In this buyers’ market it’s critical that all parties embrace the basic tenants of fairness and respect when engaging in the process of the transfer of home ownership from one to the other. Stubbornness, insensitivity and inflated egos can squash a deal in a heartbeat, so if you really want to BLOW the opportunity to own the home of your dreams, here’s how to do it:
Convince yourself that “The seller is desperate, so I’m going to LOW BALL my offer.” While there are some circumstances where sellers are not in a position to remain on the market until a reasonable offer comes along, they are few and far apart even in a strong buyers’ market. Sellers have been paying attention to the market and their asking prices now reflect that intelligence. While there is value to working with the buyer you have, there is little to no value to working with a buyer whose “LOW BALL” offer is unreasonable and evokes feelings from a seller who will remember the buyer’s name should the buyer “try his luck” again.
“Offer a fair price, but PLAN to RENEGOTIATE the price after your home inspection.” Once an agreement has been reached, every buyer should have a home inspection. A home inspection should be done by a competent professional of the buyer’s choice for the purpose of allowing the buyer to obtain information about the property so that he may learn among other things, if there are problems that were not known at the time of the agreement that substantially impact the value of the home. The deliberate practice of using the inspection clause in the agreement to come back for a second bite of the apple for issues that do not impact the value of the home is both unfair and antagonizing to the seller. Just when the buyer thinks he’s got the seller “over a barrel”, the seller often will direct his Realtor to “Give the buyer back his deposit. I do not want to deal with him again”.
“Ask for many items such as furniture, fixtures, appliances whether you want them or not to create ‘bargaining chips’”.
Let’s just hope the noises stop in your head in time.

The very best closings I attend happen when buyers and sellers have shown each other the mutual respect and understanding they deserve throughout the process. Many times good friendships have developed that last years between folks who came together over the most valuable asset in their lives. What more could one have in common with another but to love the other’s home? Be good to each other and “happy sales to you.”

UNCONDITIONAL LOVE

2008-11-21T08:40:00.000-08:00

They love us unconditionally. They protect us without regard for their own lives. They are creatures of habits that directly correlate to their sense of security. After all they do to keep us happy and safe, we make decisions for them that can be terribly unsettling and frightful for them…..we MOVE. The very least we can do for our beloved pets is to learn how we can diminish the trauma of moving.

For most of their lives, our pets’ experience is limited to the inside of our homes or to the boundaries of our property line. They learn to regard the sofa, the overstuffed easy chair and the family room rug as known and safe territory within their world and their world is about to be turned upside down.

There are tips to minimize trauma to our special family members during the moving period, some of which derive from the Movers Directory and the Humane Society such as:

Make certain that the pet is wearing proper identification and required tags in case he gets lost.
Obtain a copy of your pet’s medical history and be sure all shots are current.
Consider boarding where possible during very hectic periods of the move to avoid increased stress that can lead to illness.
If you move across state lines, check with the State Department of Animal Husbandry to assure compliance with entry laws. Some states require up to date rabies certifications. (Hawaii for example, requires a 120 day quarantine for dogs and cats that have just moved from another state).
Pack over a longer period of time rather than wait till the last minute. You may be able to handle last minute panic far better than your pet. Moving day should be as relaxed as possible.
Because they live best by routine, try to maintain as normal a life as possible for them by walking and feeding them at the same times and in the same places during the week before the move.
A few days before the move, designate a special room for your pet and let your pet get used to the “pet room” that should have familiar toys, feed bowl and pet carrier with the door opened. Your pet should have favorite objects around him that have that familiar smell. Place a sign on the door that says “Pets. Do Not Open” and instruct the movers not to disturb your pet.
On moving day, keep your pets in their carriers, board, or ask a friend to care for your pet during the actual move itself. Your pet can easily panic in the midst of such turmoil.
When moving into the new home, choose a small room again to be the “pet room” where your pets are less likely to panic as the movers come and go in the hectic operation that is hard to avoid. Have bowls, toys and furniture in place as much as possible before you let your pet out of the carrier or crate.
Although dogs adapt more quickly than cats to their new surroundings, don’t let them outside without restraints to avoid panic and running off. It’s best to allow several days to a week of slowly letting them get used to the new smells in the new territory.
If the process of moving does not permit you to give your pet the level of attention you wish such as walking or other routine activities, know that there are those who truly love animals and who make it their business to help you keep your pets as safe and happy as possible during difficult times.

If you need help maintaining a normal routine walking, feeding, playing with your beloved pet during the moving period, you may call 978-618-8301 and speak with Judy about details.

Tell your pets “We’re moving”.We know without question that your trusted pets will be busy getting all the new smells sorted out so that they can protect and love you unconditionally as we must love them right back.

JANET'S OPEN HOUSE

2008-10-23T10:44:00.000-07:00

DISNEY ON THE NORTH SHORE

Last week I visited a former client who has become a dear friend. She and her husband are building a home on the North Shore that stands as a testament to exemplary entrepreneurship, very hard work and an understanding of what it means to think outside of the box in all ways that matter.

The home my friends are building has become nothing less than the talk of the town and word has spread throughout the region that something extraordinary is happening at their address that can have great impact on all addresses all over our country.

As a result of their research, and resources, not the least of which includes the fact that the “man of the house” is a brilliant engineer, this couple has freed themselves of the sources of energy to which our country has become so addicted. In fact, their home uses the sun and technologically advanced insulation in such a way as to produce their own energy within their home.

To illustrate the enormity of their success, consider the cost of electricity, hot water, heat, or air conditioning, per month for the average 2500 square foot home. Some of the most cost effective homes still pay close to $1,000 per month if not more for basic energy needs and the figures are increasing.

My friends’ home is more than 12,000 square feet of living space. They have had non stop crews going round the clock with massive equipment and miles of extension cords, generators, water usage, six crews of master carpenters drawing constantly on electricity for months, plasterers, tile craftsmen, masons, electricians, plumbers and the list of craftsmen drawing down on energy is mind boggling.

They showed me their utility bill for the month and I had to sit down to absorb what they have created. They did not owe one dime for the huge amount of energy that had been used. The utility company OWED THEM! These pioneers have become completely self contained, energy efficient, and because they have generated their own “home grown” energy, they can sell it back to the utility company….and they do.
I remember how I felt when I first saw Disneyland’s “Home of the Future” at Epcot. My eyes widened and I could not close my mouth. I felt exactly the same way as I stared at the massive kitchen ceiling. Several conical shaped openings flooded the room with sunshine in between the recessed lighting. All the light bulbs in the home are energy efficient. There are special solar panels on one section of the roof and several rows of aluminum like tubes on a section of roof in the very back of the house. The innovative apparatus is placed in such a way so as not to detract from the splendor of the mansion.

The property collects, stores and uses its own energy. All excess energy created is sold back to the utility company.

As I was walking around the back of the property, a passing helicopter was descending just low enough to take a closer look. When I looked to see if anyone else felt as if he were in a James Bond movie, a workman merely said “Oh that happens all the time when they fly over this house.”

The folks who will reside in this home are very special. They have made a very good living keeping people safe in their homes and businesses. Before someone you love can be harmed by an intruder, the equipment that my friends produce, install and monitor exists to prevent the intrusion and identify the perpetrator. Their company is as known and respected world wide as are they as great humanitarians.

After protecting thousands of families in their homes over the years, they have now led the way toward freedom from the madness of dependence on foreign energy sources.

The municipal light company that services the community in which they reside have all but taken up residence during the construction phase. They are learning as much as they can from this remarkable couple who have used their heads and hearts to make the world a safer place while generously sharing the superior technology they understand and embrace.

It is more important now than ever that we learn how to become more energy efficient in our homes whether we build them or renovate them. Google such phrases as “green house technology” or “eco-friendly homes” for example and surf through the internet to see an explosion of information for your review.

Being held hostage for energy by foreign countries is absurd especially for Americans. The more I see in Real Estate, the more I believe that American homes are going to be healthier and more cost efficient as time goes by. We will lead the way as we always do and other countries will follow. How did that song go? “It’s a small world after all. It’s a small world after all. It’s a small world after all. It’s a small, small world.”

Janet Hilton is a Broker/ Realtor and a former practicing Attorney and Critical Care RN who, with her husband George Hilton, a retired North Shore firefighter owns and operates REMAX Country Crossroads at 144 Newburyport Turnpike in the Rowley Plaza. For excellent Real Estate assistance, call 978-948-5333 or visit www.countrycrossroadsrealty.com.