Between 2 Rivers Real Estate

Alone Again, Naturally

2017-01-11T02:21:11Z

I unlocked the door and went in the house. It was completely empty.

I knew it would be, but still, for some reason, I felt a little caught off guard and surprised.

I felt pangs of sadness.

The empty house was confirmation that this phase of our relationship was over. It had been so intense for weeks. We spoke nearly every day on the phone. We collaborated on ideas. We laughed, you worried, we wondered what the future would bring our way. You shared your fears (I kept mine to myself).

Together we decorated the breakfast nook, found the perfect rug to warm up the entry hall and hung a colorful painting to cover the ugly, gray electric panel. You gave me your keys and trusted me with your most valuable possessions. I was always there for you when you phoned, emailed or texted. I responded right away when you needed me to calm your fears and reassure you that everything would turn out ok. We endured many emotional highs and lows and these moments bonded us.

But now standing in your empty kitchen I felt the finality of it all. Of course you had to go, we both knew you would. And I knew this most of all. I have been in this position so many times before.

I did my job,

I sold your house.

I am your realtor.

(but I will miss you).

My relationship with every one of you matters to me. After we get the job done, selling your home or buying a new one, this is often how I feel when we part. (Just in case you wondered!). Our time together can be intense. For this short period of time I feel like another family member. I let out your dogs, empty the litter box and leave the light on for you. Moving on is of course rewarding, but always felt. Please buy and sell often! I look forward to your call.

Price, Terms and Your Agent.

2015-12-05T02:23:29Z

Everyone knows that the real estate market is hot right now. When you find a house and decide to make an offer, you are likely going to be competing.

When you are competing it is easy to think that the only criteria that will matter to a seller, and win you the house, are price and terms. That is generally true, but what usually matters most is the seller and sellers agent’s perception of the “entire offer package” and more specifically: which buyer/offer will most likely get all the way to the closing table.

Sellers should be able to count on their agent to help them assess the quality of every offer. Besides price and terms (dates and standard contingencies), an agent will share with a seller what they know about the buyers prequalifications, motivations and interest level. Additionally the sellers agent will share what they know about, and their experiences with, the buyer’s agent and the relationship the buyer seems to have (or not have!) with their agent. Every little thing can make a difference and influence a buyers ability to close. Accepting “the wrong” offer can be costly for the seller if their property has to go back on the market. They can end up getting less and most certainly will incur additional worry and stress if they have to start over.

Your agent, and the relationship you have with them, can be a huge factor. I know that:

if you have a relationship with your agent you are more likely to lean on and trust them if problems arise and have to be worked out (as they often do), rather than just jump ship
a competent agent is more likely to be certain and convince me that you are qualified, able to purchase and will use a reputable lender.
an offer delivered from an established agent, known to close deals regularly, gives your offer weight.
an established agent will likely be more pleasant and reliable for me to work with throughout the transaction.
Buyers that are working with an agent they have confidence and trust in, are usually taking the house search (and any offer they make) most seriously.

A buyer who has “hired” an established agent versus a discount agent, who they clearly have no relationship with, says volumes in a multiple bidding situation.

You do get what you pay for. If you’re losing out in multiple bids make sure it is not because of this oversight. You should hire the best, it doesn’t cost you anything and may save you a lot. A lot of time. And a lot of stress. More importantly it could be the edge that gets you the house.

Don’t forget it is price, terms and your agent. A good buyer’s agent can be better for everybody, especially YOU. (I’m available :))

The times they are a changin’!

2014-12-04T15:28:13Z

BOM is a property status update in the MLS (Multiple Listing service) for Back on Market.

This means that for whatever reason, after an accepted offer, the transaction fell apart.

Deals can fall apart for a multitude of reasons. The most common reasons are due to a home inspection concern or upon the buyers dissatisfaction with the review of condominium documents (if a condo). Inability for the buyer to get financing or the property appraisal coming out low are other possible reasons. Sometimes too, buyers can simply get cold feet and change their mind.

It has been rare to see anything show up BOM in the last year and a half. Inventory has been so low and demand so high that buyers pretty much have done everything they can to keep the transaction together for fear that there won’t be another option. Many buyers have chosen to eliminate the (previously considered standard) home inspection and financing contingency in order to secure a property. And without those, there is little opportunity for them to give reason to withdraw and for a property to come back on the market, without putting their deposit at risk.

But I woke today to find 9 properties BOM (in 14 towns that I closely monitor). This is remarkable. And to me it is a sure sign that contingencies are back and buyers are beginning to get a little more breathing room. The playing field may be balancing out a bit.

10 Things I Can’t Wait to tell you about Real Estate

2014-08-06T20:31:50Z

Happy New Year!

As I contemplate the past year in the real estate market a number of things are worthy of sharing with you and may be of interest.

2013 was a long and challenging one in many ways. If you bought or sold a house, you definitely know what I mean!

2013 was this best market for Sellers I have ever seen.
2013 was the toughest market for Buyers I have ever seen.
2013 marked my 20th year in real estate…so I have seen a lot of market shifts and trends.
Inventory was down as much as 29% from a year ago.
The low inventory inevitably caused home prices to rise (as much as 18% in some places).
Average list to sale price on the properties in our (Between2Rivers) area was 2% over the asking price. My seller clients averaged 5% over the asking price. Pricing properly and staging can still make a difference and maximize top dollar, even in a market where “everything sells” over asking.
My Buyer clients only paid an average of 98.5% of list to sale price (when the average was 102%). Even in this market there can be opportunities to negotiate and save you money.
The 30 year interest rate has been below 6% for over 5 years! Rates are forecasted to rise above 5% by the end of 2014. Buyers keep in mind how rising prices and higher interest rates can impact your buying power. If you want to own, waiting will cost you money.
Getting a loan, while slightly easier than last year, continued to have its challenges (preapproval & patience are the two most important tips I can offer!).
My seller clients who realized top dollar, went the extra mile to prepare their house for market.

What will 2014 hold? Since it is unlikely that a surge of inventory will come on the market, I think 2014 could look very much the same as 2013. But demand can fluctuate with the smallest of changes in the economy, in interest rates and even in the weather. A good real estate agent, who is immersed in the business, is noticing these subtleties and can best coach you on timing, pricing and strategy whether you are making an offer to purchase or selling your home.

If you are thinking of selling and want to know the value and how to get the most for your home I can help. If you are thinking of buying, utilizing the services of an experienced agent, who knows the market and has established relationships with other agents in the marketplace can make a difference in an extremely competitive environment.

HAPPY HOLIDAYS

2014-08-06T20:31:50Z

Enjoy the season!

Laugh often!

The moments that don’t cost

anything can be the richest.

After the Decluttering, Don’t Forget the small stuff

2014-08-06T20:31:50Z

…Be Awesome!

Selling an occupied house is much better than selling an empty one. But selling an overstuffed house can be more difficult (and bring you less money) than selling even an empty one! That is why so much talk is made of the need to “declutter” (dump, donate or pack!) before putting your home on the market.

But after the decluttering there seem to be a number of things I find myself repeatedly recommending to my seller clients. Most of them are inexpensive and easy do-it-yourself projects. A few of them can even be fun if you need an excuse to shop!

But doing them can take your buyers first impression from being an average one to an awesome one, and that just might mean an offer for you.

Here is my list:

Replace ratty door mats or small carpets commonly found at the front and back doors
Clean bugs out of ceiling light fixtures
Keep only the kitchen countertop gadgets out that you actually use everyday
Clean, clean, clean…things should sparkle
Replace dated light fixtures
Clean and caulk bathtub tile if needed
Paint entry or/or any areas clearly visibly scuffed, chipping or flaking
Replace dated kitchen hardware (knobs and pulls)
Fix holes, and anything loose or broken
Add a little (of the right) color with throw pillows and shower curtains or towels
Reorganize furniture (sometimes a room can look bigger or more inviting if it is set up a different way)

It is human nature to form an impression quickly and on first appearances. These and other little things can make it easier for a buyer to make a better offer and bring you a faster sale.

I love helping sellers introduce their home to the market in the best possible light. Call me, I can help you.

NO NEED TO WAIT UNTIL SPRING!

2014-08-06T20:31:50Z

Yes, the best time to sell a home has traditionally been in the Spring. Buyers are typically more focused, winter is on its way out, and everything looks better with plants starting to bloom.

But this year is different. Not only is waiting until spring unnecessary, it could actually be costly.

The recent inventory shortage has resulted in over asking selling prices and shorter days on market to sell. Multiple buyers for each home listed has meant buyers have had to compete and offer exceptional terms, as well as over asking prices.

Buyers are presently waiting for new inventory. And with the fear that interest rates can only rise (having been at record lows for years), they are ready to take action and will likely continue to do so through the early winter months.

And as home values climb, there are likely to be more people who choose to sell, hence producing more inventory and less competition. And the shortage of single family homes in the Cambridge area has caused the single family homes in the surrounding towns (Arlington, Belmont & Watertown) to be in greater demand and more valuable, and drive up the values there.

This means you don’t have to wait until spring, the right market is right now.

If you would like to explore how I can help you maximize this unprecedented time in real estate, please call me. Strategic presentation, comprehensive marketing and skilled negotiating can ensure that you realize top dollar in this market as well as terms that minimize the stress that typically comes with selling a home. I can help you leverage this unique time.

Tooting Our Horn

2014-08-06T20:31:50Z

Hear Ye, Hear Ye

I love my job.

I don’t take for granted how my office, my co-workers and my broker owner, play a big part in that satisfaction. Like most everyone, I have worked in bad environments:

where you feel like no one has your back (and in fact you are always looking over your shoulder),

where the boss needs his (or her) ego stroked constantly (or you’re going nowhere!) and;

where the whole aura of the office feels like no one wants to be there (God forbid they have to help a customer!)

I am happy to say I don’t work in a place like that. The Boston Globe has just let the cat out of the bag!

Our little office has been ranked the 17th best small employer:

http://www.boston.com/jobs/topworkplaces/2013/top_places_to_work_in_mass_small/

Why should this matter to you? Well my little office packs a big punch. We have big name, RE/MAX, brand awareness. I have the pleasure of small office camaraderie, sharing ideas, helping one another and caring for each others client(s) as if they were ones own. I have a support staff looking after the small stuff. I have a broker owner providing a menu of training and tools all easily assessable. I am free to utilize any or all of the support and make the decisions that are best for my clients. I don’t have to ask someone above me, I don’t have to do it the same way each time, because “it’s company protocol”. The more I get of this, the more I can take care of you.

Let me and my team help you find or sell your home. You too will feel the love!

Warning: Are You Relying on Zestimates Only in your Home Search?

2014-08-06T20:31:50Z

Sometimes, when calling on one of my listings, a buyer will ask, “why is the asking price so different from Zillows Zestimate?” (Of course they generally only ask this when the Zestimate value is higher, not lower. ).

I worry about any buyer who is significantly letting a Zestimate influence their shopping. Zestimates are not an assurance of the actual value of a home because they do not factor many of the criteria that is most influential to buyers.

As stated in a previous post written for Sellers who may lean too heavily on Zillow, “Warning: Are You Relying on a Zestimate to Price Your Home”, you don’t have to take the lack of completion, and hence inaccuracy, of a “Zestimate” from me, take it from Zillow. The following statements were taken directly off their site:

Our data sources may be incomplete or incorrect.
We have not physically inspected a specific home.
your real estate agent (or appraiser) physically inspects the home and takes special features, location, and market conditions into account.
Margin of error nationwide is approximately 9% (on AVERAGE)
Zillow does not offer the Zestimate as the basis of any specific real-estate-related financial transaction.
A Zestimate is a starting point and does not consider all the market intricacies that can determine the actual price a house will sell for.

While Zillows algorithm is “secret”, we know that it is derived from public on-line records and closed sales data only. Since they never go into the house, some of the characteristics that usually matter most to buyers are not even factored into a Zestimate. Factors like:

the type of street
the floor plan/layout
the amount of light/views/orientation on lot and to neighboring properties
level of renovation & condition/age of major systems
architectural character and interest
distance from public transportation, local schools, etc.

Having sold real estate for 20 years now, I can’t think of any buyer that would not have a strong opinion about most, if not all of the factors above. More importantly, many of these things could affect what price they were willing to pay for the house, or even whether they wanted to buy the house at all! Sure, statistics, algorithms and comparable sale data matter and affect value. But in the end, how a house makes you feel will affect how much it is really worth to you and others (when you resale) and determine any homes true value.

So when buyers ask about the Zestimate before actually seeing the particular house, I encourage them to come and see and “feel” it first! Without doing so, they could be missing out on a home that could really be everything they ever wanted and worth every penny (and perhaps worth more to them than) the seller is asking!

I’d love to hear your opinion, if you have used Zestimates to rule a house in or out. Please write me below.

Museum Day

2014-08-06T20:31:50Z

Today is Museum Day! This means you can go to select museums Free of Charge.

Just log on to smithsonianmag.com, choose a museum and then get the coupon. My favorite is the Gropius House in Lincoln, Ma. Hope to see you there!

It’s overcast and dreary…a perfect day for a museum.