Massachusetts Real Estate and More

We've All Heard It Before

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Fri, 26 Aug 2016 00:34:34 -0700

“That’s a violation of the Code of Ethics.” We’ve all heard it before. Maybe you’ve said it yourself. But what does it really mean when someone says that an action is a violation of the REALTOR® Code of Ethics (the COE)?The COE addresses three distinct duties of all REALTORS®: Duties to Clients and Customers; Duties to the Public; and Duties to REALTORS®. Seventeen Articles or Duties comprise the COE. Any of those 17 articles can be cited in a complaint (a grievance) against another REALTOR®, which if reviewed by a Professional Standards Hearing Panel could ultimately result in sanctions and/or fines if the other party is found to be in violation. But what about those “violations” that aren’t addressed by the 17 articles of the COE. How about the one duty that is often overlooked, but is actually a cornerstone of the COE?Located in the Preamble to the COE is the following:“The term REALTOR® has come to connote competency, fairness, and high integrity resulting from adherence to a lofty ideal of moral conduct in business relations. No inducement of profit and no instruction from clients ever can justify departure from this ideal. In the interpretation of this obligation, REALTORS® can take no safer guide than that which has been handed down through the centuries, embodied in the Golden Rule, “Whatsoever ye would that others should do to you, do ye even so to them.” Unfortunately, we can’t file grievances against others based on the Golden Rule. However, as REALTORS® you do have options when you see or hear something that you don’t think is right and believe needs to be corrected.The first step is to make sure that you did not misunderstand the other REALTOR®. Go ahead and ask the question a different way. If necessary, put it down in writing so that the other party responds in writing.If the above validates your concern, talk to your broker or office manager. Don’t fall victim to a violation of the COE yourself by speaking poorly about another REALTOR® to others in your office or your circle of friends. If there is an ethics issue here, your broker or office manager needs to know about it - - especially if there is a deal in the works. This can not be emphasized enough - - don’t be the hero and keep it to yourself as a sales agent. Let your broker or sales manager know of any potential problem right away!Dispute resolution is easiest when it is done up-front before things get messy. Misunderstandings can get easily resolved. Business practices can get modified, hurt feelings can get smoothed over before becoming damaged. Relationships can remain intact before they are forever damaged. Ethical violations can be avoided before they become serious problems.Your local or State Association of REALTORS® offers a full range of alternative dispute resolution services to its Members including Ombudsman and Mediation services in addition to ethics and arbitration hearings by trained Professional Standards volunteers. If you are interested in learning more about volunteer opportunities, contact your local or State Association. I've often been told that our dispute resolution services are one of the top REALTOR® benefits offered. Martin E. Kalisker is the current Chair of the Mediation and Ombudsman Committees for the Greater Boston Association of REALTORS® and past Chair of Professional Standards. In addition to being a Broker/Owner of his own real estate company, he is actively involved involved in alternative dispute resolution for real estate companies. First published in The Informer™ - August 25, 2016. ©Greater Boston Association of REALTORS®xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

New Massachusetts Law Puts Ibanez to the History Books

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Thu, 03 Dec 2015 05:08:42 -0800

New Massachusetts Law Provides Clarity for how long the title can be challenged when buying a foreclosed homeOn November 28, Massachusetts Governor Charlie Baker signed An Act clearing titles to foreclosed properties into law. The 2011 Supreme Judicial Court decision,U.S. Bank National Association vs. Ibanez¹ had an immeasurable effect on the sale of foreclosed residential real estate in Massachusetts because it essentially opened up the doors to allow previously foreclosed homeowners to seek to invalidate foreclosures throughout the Commonwealth, with the result being that any title issued subsequent to the foreclosure could be invalidated. The result of the decision was that good faith purchasers of the foreclosed homes could not sell or refinance their homes because of the uncertainty over title. (Side Note: If you are a licensed real estate agent in Massachusetts, can you look yourself in the mirror or your clients in the face right now and honestly tell them that you were aware of Ibanez when you sold them a home with a past history of foreclosure? Do you think the attorney is/was solely responsible for advising the buyer who may or may not have purchased homeowners title insurance? And what about the lender's title policy that was exposed because of Ibanez?). Oh, but I divert, because this is Massachusetts and as ususal, no harm, no foul. The legislature is here to help once again.Under this new law, bona fide purchasers will be protected by limiting the amount of time others would have to challenge the "legitimacy" of a Massachusetts foreclosure and sue for title (or invalidation of the foreclosure procedings) up to three years. After the three year period the courts would view the foreclosure as proper. ¹U.S. Bank National Association v. Ibanez Supreme Judicial Court of Massachusetts 941 N.E.2d 40 (Mass. 2010) Facts This holding combines two cases with almost identical facts. U.S. Bank National Association (U.S. Bank) and Wells Fargo Bank, N.A. (Wells Fargo) (plaintiffs) each foreclosed on a property and each bought the property back at the foreclosure sale. They each filed a claim seeking declarations that they were the fee simple owners of the foreclosed properties. U.S. Bank claimed that it was assigned its mortgage under a trust agreement, but it never presented the trust agreement to the court. U.S. Bank did submit a private placement memorandum (PPM) that indicated that the mortgage “will be” assigned to the trust. Wells Fargo also claimed that it was assigned its mortgage. To back up that claim, Wells Fargo presented an unsigned copy of a pooling and servicing agreement (PSA) as well as a mortgage loans schedule that purportedly included the mortgage at issue, but contained only loan amounts zip codes, and cities, and not property addresses, mortgagors’ names, or loan numbers. The trial judge ruled against the plaintiffs. The plaintiffs appealed.xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

Listing Trifecta Winner for Location, Convenience & Price

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Sun, 15 Nov 2015 11:20:19 -0800

Located in the town of Brookline, Massachusetts, this stunning brownstone is nestled between popular Coolidge Corner and Washington Square with access to the city via the Brandon Hall green line T stop right outside your front door. The $665,000 asking price for the the 1,082 (deeded) sq ft of living area includes two bedrooms and one full bath and in-unit laundry over the entire second floor of this four unit, 100% owner occupied 1985 condominium conversion. Imagine how convenient it will be to have shopping and restaurants - all within easy walking distance. This unit boasts polished hardwood floors, soaring 11'+ ceilings and plenty of natural light throughout the north and south exposures. The flexible use second bedroom can function as a den or office off of the living room. The dining room which has loft-like southeastern views of Brookline and Jamaica Plain is a perfect entertainment space to hang out with friends as you finish whipping up the latest gourmet recipe in your new kitchen with gas range. The huge master bedroom hosts a king size bed with plenty of room left over; or just relax in the living room with an open fire and hand-carved mantel piece. High efficiency washer/dryer included in sale; basement storage; deeded parking space; granite counters; stainless steel appliances, closets galore.... the list goes on! Professionally managed building, Act fast. Offers due Noon Tuesday November 17. Exclusively listed for sale by Martin E. Kalisker, Broker/Owner. Synergy Metrowest Inc. MA Broker Lic 9505496 xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

Wellesley MA Re-Codification Subcommittee Soon To Take Shape

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Wed, 29 Jul 2015 09:36:25 -0700

Local News Coming To You From Wellesley MA Earlier this week, Town Planning Director, Michael Zehner wrote an open letter to all Town Residents, Business Owners, Commercial/Residential Developers, and Land Use Attorneys with regard to the Board’s initiative to re-codify the Zoning Bylaw of the Town of Wellesley, Massachusetts. By way of background, at this most recent past Annual Town meeting, the Planning Board announced that it would be “initiating a collaborative approach to re-codification” and “will be establishing a subcommittee” to recommend “the course of action [by which re-codification will be pursued] and changes to re-codify the Bylaw.” The Planning Director and the Board is now working to appoint this Re-Codification Subcommittee. In addition to the appointment of members of the Planning Board, Board of Selectmen, Zoning Board of Appeals, and Design Review Board, the Planning Board intends to appoint to the Subcommittee one (1) resident representative, one (1) representative of commercial, business, or residential development interests, and one (1) attorney knowledgeable of land use and zoning matters. Anyone who fits one of these categories and is interested in serving on the Subcommittee should submit a letter of interest, together with a summary of their qualifications to the Planning Department no later than August 19, 2015, by email at mzehner@wellesleyma.gov or by mail to: Planning BoardAttn: Michael ZehnerTown Hall525 Washington StreetWellesley, MA 02482 The Planning Board will consider the appointment of those interested at a future meeting of the Board. Questions may be directed to Michael Zehner at Town Hall.xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

A Happy Wife, A Happy Life?

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Thu, 11 Jun 2015 05:40:19 -0700

Not all kitchen renovations turn out so well... I like to watch programs like "America's Favorite Home Videos" and get a chuckle out of watching video clips of those "poor traumatized" lovers who get spurned by their significant other when they ask them to the prom or propose to them at a public event for all to watch...only to be turned down. Maybe it's the cynic in me that makes me chuckle. Big egos, even bigger jumbo trons, and public humiliation. I should have been a spectator in the Colosseum in Rome during the days of the Gladiators. But what tickles me even more is when everyone cries out loud how unfair the "scorner" was to the "scornee." What about his/her feelings? The cries of "oh, to be humiliated like that in public." Yeah, right. Half the time, it's a set-up. It's a joke. And we fall for it. Now that I've created some uncertainty in your mind, I'll let you decide if this video is a "set up" or if it is a true and honest reaction from the wife for the first time that she saw the labors of her husband's surprise renovation on their kitchen. If it's not a set-up, then I'm afraid the narration at the end of the video is probably befitting of the situationxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

What do REALTORS® From Across The Country Think?

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Fri, 21 Feb 2014 04:05:22 -0800

January 2014 REALTORS® Confidence Index Report Just Released The National Association of REALTORS® (NAR) (the guys who warn consumers that "not all real estate agents are REALTORS®) just released the January 2014 edition of The REALTORS® Confidence Index (RCI) Report, which provides monthly information about market conditions and expectations, buyer/seller traffic, price trends, buyer profiles, and issues affecting the real estate industry based on information gathered from over 3,300 REALTORS® from across the country. The survey provides an overview of what is really happening based on information from the professionals who deal with real estate every day. This information goes directly to the public, the press, Congress, the Administration, and other governmental branches and helps to inform REALTOR® members, the media and policy makers about current issues facing REALTORS® and their communities. The January data indicates that the year started off at a modest pace of expansion compared to the heated recovery in 2012 through mid 2013. The extreme winter weather was reported to have negatively affected sales particularly in the East Coast and Midwest. But across many states, a major factor reported by REALTORS® that is impeding sales is the low inventory of available properties. Another problem is the tight access to credit; there are reports that self-employed individuals have a tough time obtaining mortgages. The uncertainty regarding flood insurance premiums has also stalled demand in coastal areas. NAR estimates that flood insurance issues impacted approximately 40,000 sales during the October 2013-January 2014 time frame. Most REALTORS® expect prices to continue rising albeit at a modest pace. The rental market has remained strong with rents continuing to increase. It goes without saying that all real estate is local: conditions in specific markets may vary from the overall national trends presented in this report. To access the RCI report for January 2014, please click here. xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

Why Do Real Estate Agents Still Exist?

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Mon, 10 Feb 2014 02:36:54 -0800

Why Do Real Estate Agents Still Exist? Even in today's Internet age, consumers still need us But seriously, how would you answer this question? Does the answer change depending upon who the person is that is posing the question? What if it is your parents - After all, they probably had high expectations that you would do something "better" with your college degree. Can your career as a real estate agent really pay the bills, or are you going to be one of those "baby boomerangers" who live at home and feed off of mom and dad?. What if it is your friends - Do they see themselves more "successful" than you with their careers? Do you see your friends as being more "successful"? What if it is a home seller - Trying to weigh the benefits of selling on their own (FSBO), or using a entry-only brokerage to get the MLS exposure versus the local office of a national brand? What if it is a home buyer - "Doing it on their own" and getting along just fine. After all, when it does become time to buy, the listing agent can write up their offer... What if it is a journalist - Asking you to justify your existence when so many other businesses have gone by the wayside with the advent of the Internet and computer technology. Don't believe me? When was the last time you saw a travel agency? A telephone calling card? A hometown book store that can compete with the likes of Strand, Amazon or Barnes and Noble? What if it is the on-line brokerage that is calling you to sell you buyer leads because "they just harvest them, they don't service them"? In Lydia DePillis' August 22, 2013 article "Why do real estate agents still exist?" she takes a look at some core reasons why our changing environment actually increases the need for qualified brokers and agents more than ever. Whether your are a licensed sales associate or a broker/manager; a REALTOR® or non-REALTOR®, there is still business to be had. For what we have is something intangible that cannot be easily replicated. Yes, the business model might have changed, but in the words of Jim Weichert "People buy people, before they buy a product or service." That statement worked 40 years ago, and it still applies today. Spoiler Alert: If you got really depressed by trying to answer the questions above, there is good news ahead. Summarizing Lydia's article, here's some reasons why you should feel good about being a real estate agent, and why being a REALTOR® is more important than ever: 1. The post-crash world is more complex: The housing crash and ensuing tighter lending standards, as well as the prevalence of foreclosures and short sales, has created more regulation of businesses and stricter consumer protection laws. Couple this with complex zoning and building codes, tighter time-lines to get an offer presented or dealing with inspection issues - all of these items have made the average transaction harder to navigate without expert help. That expert is YOU. 2. The internet improves productivity, but it doesn't replace the agent: When buyers can research homes online and the agent can use resources like the REALTOR Property Resource (RPR) to provide detailed community and neighborhood information, buyers can fine-tune their search so that an agent has to spend less time touring them around. Instead of being viewed as the "holder of the key", today's agents spend more time answering questions and navigating the hurdles so that the home gets sold. The commission is the same, the agent just has to work smarter, not harder. 3. The internet increases agent leverage over brokers: ... "Agents are in a position where they can keep more of their money, because they're not reliant on the brokerage to get their business." according to Lydia DePillis. This seems to only be true for those agents who are using technology to build a business. If not, brokerages - especially those with national exposure (and budgets) create leads for agents to assist through the brokerage's website and ad campaigns. Lead re-sellers have also created their own business model to capture the business. But they don't service them. They need you. Personally, I disagree with the premise that the internet increases agent leverage over brokers. Even as distasteful as you think it is for your broker or a third party to "sell" you leads for prospective buyers or sellers - you have to think for yourself - do you have the budget to capture internet leads? If you aren't able to produce the business yourself, wouldn't you be willing to give up a piece of your commission to earn a commission? This isn't to say that the internet has increased the broker's leverage over agents, either. My impression is that the internet has created real estate sales to be less focused on the individual agent, and turned the focus back to the consumer. The consumer is all about "what can you do for me now". The agent, the broker, the lawyers, the title company, the lender...all need to be working together for the consumer. A skillful agent sells her expertise and the support of the broker and the brand to stand behind her. An even more skillful agent inserts herself into the "team" of professionals who are going to sell the home or get the home sold - regardless of whom they represent. That's the value added that the internet cannot provide. 4. People still don't trust cheap things: Buying a home is a big decision, and people don't tend to want to take a risk on a cut-rate agent. Like it or not, you get what you pay for in real estate. That's why the discount brokerage model hasn't caught on. Today's consumer wants full service. It's up to the agent - and the broker - to take ahold of the situation and give the consumer what they want. Believe it or not, they will pay for good service. And a savvy agent will be able to demonstrate that what consumers find on the Internet or hear from the media isn't always the full story. xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

Adopt a Fire Hydrant in Wellesley MA!

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Wed, 05 Feb 2014 23:43:22 -0800

The Wellesley, Massachusetts Department of Public Works (DPW) and the Wellesley Fire-Rescue Department are asking local residents to assist in clearing fire hydrants of snow in their neighborhood. According to the DPW, there are over 1,400 hydrants in Wellesley and each one is potentially vital in the event of an emergency. Local residents are being asked to "adopt" a fire hydrant this year. By visiting the DPW website, adopting a hydrant is as simple as 4 easy steps:1. Click the link below to visit the Adopt a Hydrant map. This is a new system, so residents who participated in this program last winter, are being asked to re-visit the map and update their adopted hydrants2. Expand the Find tab and enter your address in the space provided to zoom to your neighborhood3. Click on the Adopt a Hydrant button and then click any RED hydrant to adopt it4. Enter your resident information in the pop-up form and click “Update” Residents who are ready to get started should click on the link below. The DPW and Wellesley Fire Department wish to remind all residents to please be careful and aware of roadway traffic, and to thank all resident volunteers for volunteering to keep Wellesley's neighborhoods safe. Click HERE to visit the Wellesley MA Adopt a Hydrant Map! xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

Free Flu Vaccine Clinic in Wellesley Massachusetts

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Wed, 29 Jan 2014 23:32:14 -0800

Free Flu Clinic February 5 The Wellesley Massachusetts Health Department is advising all students, parents and town residents that it is not too late to get your flu shot this season. To that end, the Wellesley Health Department is offering a free Flu Vaccine Clinic, for students, parents and staff of the Wellesley Public Schools, as well as the general community. The clinic will be held at Wellesley Health Department: WHEN: Wednesday, February 5, 2014 WHERE: Wellesley Health Department Annie F. Warren Recreation and Health Building 90 Washington Street (Route 16), 2nd Floor TIME: 11:30 AM – 2:30 PM Anyone under 18 years of age must be accompanied by a parent/guardian. This service is provided free of charge, but insurance information will be requested. To learn more about the flu and what you can do about it visit: http://www.flu.gov/ For further questions, contact the Wellesley Health Department at 781-235-0135. xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

Admit it, your inbox is overflowing with unread mail

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Tue, 21 Jul 2015 04:43:28 -0700

Manage your email with just one really, (really) cool tool I'm going to venture a guess that I'm not the only broker in town that has at some point in time, errantly clicked on a button or registered for a free newsletter or white paper only to find that by doing so, I may have given permission to receive daily, weekly and monthly newsletters, summaries, reminders, "recaps" of summaries, "executive summaries" of the recaps... You know what I mean! But I wonder. If these companies were to put a stamp on all of this stuff or to actually pay even a penny to the Internet vendor to disseminate each piece of outgoing mail - how much of this stuff do you think they would actually send or how much do you think they think actually is being read. Conversely, of all the "stuff " that you receive in your inbox, how much of it is truly informative or educational? Odds are, probably not too much.With all the fires that I seem to put out each and every day (something I need to work on - it's not my monkey, but that damn thing keeps on jumping back on my shoulder ), sitting down for thirty minutes to write down and manage my email subscriptions is all but a pipe dream for me. For me, it's a no-brainer to simply delete unwanted email than it is to navigate to the sender's unsubscribe feature or update my account's email preferences. I do this at home too. I pluck weeds from the side walk when I get home, instead of just wiping the suckers out with one blast of Ortho-rid each month. But then, I found Unroll.me . Unroll.me is a free service which allows you to clean up, consolidate, and manage your inbox by automatically unsubscribing from unwanted email subscriptions, discovering new ones and putting them all in one place. There's a lot of other neat features that the tool does, but the one drawback is that it only works on personal email accounts - not server-based email from what I can see. So if you get your email through godaddy or your brokerage, for instance, you'll need to forward it to an outlook or gmail account for unroll.me to grab onto the sender addresses.Take it for a spin - it's also easy to uninstall.Enjoy! xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

Building Owners Now Subject To New Building Labeling Law in Boston

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Mon, 23 Dec 2013 03:13:03 -0800

New Energy Scoring Regulations Approved for Boston, Massachusetts According to a recent press release by the Greater Boston Real Estate Board (GBREB), the City of Boston Air Pollution Control Commission voted unanimously on Wednesday December 18th, to approve new regulations pursuant to the Building Energy Reporting and Disclosure law passed in May. As approved, the Boston Building Labeling Law requires all buildings over 35,000 square feet, including apartments, condominiums and commercial buildings to collect, report and publicly disclose to city regulators the energy and water use of each building. Affected buildings that do meet city standards will be required to undergo an energy audit or other assessment every five years at the owner’s cost. Building owners, including condominium associations that fail to comply will be subject to fines up to $200/day. As one of the last acts of the Menino administration, and despite objections from GBREB and others, regulators approved the new rules in two short months with the public permitted to offer testimony once on November 12th. xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

Buyers Beware: New Mortgage Rules May Affect You

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Tue, 26 Nov 2013 01:53:42 -0800

The Qualified Mortgage (QM) rule which is slated to go into effect on January 2014 contains provisions that will radically change the mortgage lending environment for all new loan applicants (existing applications may be grandfathered). According to a recent study by Origination News, an analysis of home loans showed that 1 in 5 current mortgages would not qualify under the new rule. To comply and be able to sell mortgages on the secondary market to Fannie Mae and Freddie Mac, lenders won’t be able to offer interest-only loans, negative-amortizing loans, loans longer than 30 years or balloon loans, or charge the borrower more than 3% of the mortgage amount in fees ("points" are included). Lenders must also adhere to the Ability-to-Repay rule, which says borrowers' total debt liability -- including housing -- should not exceed 43 percent of income. According to the Consumer Financial Protection Bureau, lenders must "make a reasonable, good faith determination of a consumer's ability to repay any consumer credit transaction secured by a dwelling." Lenders who issue mortgages that meet the QM criteria have safe harbor, meaning they cannot be sued by borrowers claiming the loan terms are unfair. Much has been written about the upcoming changes, and the true affect to prospective borrowers is only speculative. There is another piece to the puzzle which lies behind the scenes that could cause certain lenders to change their habits for direct and retail lending. That has to do with a requirement that the lender retain 5% of any loans that are "bundled" for resale to the secondary market for any non Qualified Residential Mortgage (QRM). A QRM is a mortgage (presumably a QM) in which 20% or more of the underlying value of the collateral is paid up-front. When a lender is required to retain a percentage of the loans that they underwrite, they have less money to lend and many lending institutions are also subject to capital-at-risk rules which further encumber its assets. Therefore the name of the game is going to be 20% down to buy a home and it must comply with the QM rules - or no loan approval. Buyer Beware! xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

Wellesley MA is on the Map!

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Tue, 08 Oct 2013 02:25:35 -0700

Wellesley MA Improves Online Research With New Mapping Tool As a part of its continuing effort to improve access to municipal data and resources, the Town of Wellesley recently introduced MapsOnline, an interactive mapping service, at www.wellesleyma.gov/MapsOnline. The new site is fully supported on the current versions of all major web browsers (e.g. Google Chrome, Microsoft Internet Explorer, Mozilla Firefox) and requires no third-party plug-ins. It was also designed with the touch-screen user in mind and is fully compatible with iPads and other tablet devices. For users familiar with similar sites hosted by neighboring towns in the Greater Boston and Metrowest aresas, the Layers tab allows users to easily turn on and off a variety of mapping layers like:Zoning Districts Elevation Contours Wetlands Color Aerial Photography And more to come! (e.g. Lot Dimensions, Bus Routes) The Find tab allows users to search for a property by Owner Name, Address, or Map & Parcel number (Parcel ID) to see basic assessment information or access an online Property Record Card. TheTown's GIS Office can be contacted at gis@wellesleyma.gov . xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

West Nile Identified in Wellesley and Wellesley Hills Massachusetts

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Fri, 30 Aug 2013 09:50:06 -0700

West Nile Infected Mosquitos Go Local The Wellesley, Massachusetts Health Department ("WHD") has sent out an alert to all residents that mosquitoes carrying the West Nile Virus ("WNV") have been found in the town. Local media reports have also reported that two Massachusetts residents have been diagnosed with (and are recovering from) WNV. Personnel at the WHD are urging local residents and visitors alike to be extra vigilant in the prevention of bites by using insect repellents according to the recommended guidelines and covering up exposed skin when outdoors - particularly just before dawn and dusk. I had my office in Wellesley Hills for many years and was actually quite thankful for the colonies of local bats (the flying mammals, of course) who loved to feed on the mosquitoes and other bugs around my building. Hopefully, these great creatures will do their job to keep West Nile in check. The Health Department's website, www.wellesleyma.gov/health has up to date information.xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

"I don't get leads from Active Rain" and other laments

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Tue, 27 Aug 2013 06:52:46 -0700

If it hurts, just don't do it I just finished reading a post from an Active Rainer urging agents to re-evaluate their "need" to be the be-all, end-all guy (or gal) with technology and gadgetry. The reasoning was sound; by focusing on all the cool words and tools, many of us lose focus on the target - bringing buyers and sellers to the closing table. In reading through the more than 100 member comments, a couple of things really stood out. Besides asking myself the never-ending question of "Did this member even read the posting, or were they just fulfilling their daily quota of AR points?", I appreciated the comments that the author made to re-direct the conversation by urging people to comment on the post, not on what many of them had decided to use the space for to go off on a tangent. But the reader comment that really got to me was by "John - #67." In typical fashion, John joined the bandwagon of blah, blah, blah and yada, yada, yada and reflected on how great ActiveRain would be if it had a consumer Q&A page likeTrulia. John finished by saying that for as long as he has been a member, he's never received a single lead from Active Rain. Boo, hoo. And boo hoo to all of those who took issue with any number of Rainmaker and Ambassador posts asking agents to work smarter, not harder; to use technology as a tool, not as a crutch; to be the master of one's domain, not its prisoner. The thing is so many agents throw money out the door each day (if you were to add it up, I'm sure agent spend amounts to the GDP of any number of countries) to either get their name broadcast to whomever is paying attention or spending money on technology just to look cool or in an attempt to be one-up on their "competition", but they are doomed to fail because they ultimately don't understand how to use the tools that they just purchased. What I'm getting at is the cancer of the real estate sales business. Laziness. Fear of rejection and fear of actually having to speak with someone or to have to look them in the eye. Simply put, tools, methods and technologies that reinforce passive activities will not make you successful. Successful agents engage in active activities each and every day. They go belly to belly, eye to eye. They have a focus and a goal. In real estate there are four common activity-based objectives: a) ask for the appointment; b) sign the contract; c) close the deal; and/or d) hire the agent (for recruiting). All of a successful agent's activities are tailored to meet these four objectives. Successful agents use technology as an instrument in their handbag of tools. They use technology to make their work more efficient, but realize that technology is not for everyone. When they use technology, they always include a call to action. I rarely hear successful agents gripe that their marketing methods don't work because these folks fine tune and re assess their activities throughout the year. They know what works and what doesn't work. They know what they have to do to make their tools work for them. John's comment about using Active Rain and Trulia's Q&A Board to demonstrate that of all the 50 gazillion agents out there, he'sthe one that should be contacted, is flawed. His sit back and wait attitude will and is getting him nowhere. But instead of doing something about it, he is whining. I coach my agents regularly on "passive" and "active" activities and we identify the pros and cons of both methods. Cost is always a concern. So is time and time management. No one said this was easy. But you can be successful if you know what you are doing and if you utilize the tools, systems and technology to your advantage. There is no whining in my office because a passive activity isn't achieving one of the four activities geared to help buyers and sellers and provide a source of income for the agent. If it hurts, just don't do it. Or find another way to do it. Anyway, write to me if you enjoyed this post. Heck, you can even write to me if you hated it. If you think you might want to join my team, give me a call. I can't "see" you by using Active Rain. But if you choose to contact me, I can assure you that our next interaction will be tailored to you.xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

More changes ahead to benefit the consumer on Massachusetts MLSPin

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Wed, 19 Jun 2013 01:50:49 -0700

New CTG (Contingent) Status Coming Soon Maybe its a sign of the times, but MLS listings across the country have become victim to "syndication" on a multitude of real estate-related websites all geared to empower prospective buyers with information. Unfortunately, many of these syndicated sites (including the "big names" that start with "Z" and "T" and Realtor.com) have fallen victim to data field changes made by local MLS boards that are not supported by the syndicated site. A case in point was the "active-flagged" status utilized by the Massachusetts MLSPin. Listing agents used the active-flagged status to indicate to local real-estate salespersons and brokers that a particular property was technically off the market, but was not being flagged as "under agreement" because of contingencies - subject to mortgage approvals, subject to to inspection, subject to execution of a purchase and sale agreement, etc. In recent years, however, listing agents were more akin to utilizing the "active-flagged" status for a more sinister reason - - so many deals were falling apart because of financing that they did not want to take the property off the market and wanted to continue to take back up offers (Note: this is a seller's decision, not an agent's decision, but I'll save this discussion for another day.) Recently, because of the "hot" market that we've all be experiencing, listing agents have been using the "active-flagged" status to continue to attract buyers in the hopes of capturing the buyer and selling them a different home. Buyers' agents have been incensed by this ploy by (unscrupulous, unethical, uninformed, mis-informed, etc.) listing agents. We all could see that a property was "active-flagged" and knew pretty well after a discussion with a listing agent whether it made sense to show the property to our buyer clients (or if the listing agent was actually allowing additional showings or offers to be extended). Buyers, on the other hand, could not see the "flagged" status of the listing, so they were left with the impression that all buyers agents are lazy and don't want to show them the home. The reason was because the syndicated sites like "Z" "T" and Realtor.com continued to show the home as "active", with no indication that there was an existing offer on the home for sale. The folks at Massachusetts MLSPin remedied this situation a few weeks ago by restricting the "active-flagged" status only for those listings where a kick-out or similar clause was part of the sales contract. In order to appease listing agents who genuinely wanted to continue to market a property under agreement, the MLSPin Board recently designed a new classification "CTG - Contingent" to replace the old "active-flagged" status with the objective to clearly state the reason why a listing is still available for showing: The CTG must meet one of the following conditions: . Inspection Attorney Review Appraisal Financing Third-party Approval Pending P&S This new status will be fed out to all third-party websites as 'Contingent,' not as 'Active.' MLSPin hopes to eliminate much of the confusion in the marketplace with this change, so that buyers and real estate agents alike will be able to determine whether they would like to see a particular property. An important feature with the "CTG-Contingent" status is that any third-party not able or willing to display the status as Contingent (or something of similar effect) will not be fed these listings. Time will only tell if this new information is being utilized by the third-party syndicated sites and whether they will modify their programs to feed the "CTG - Contingent" status or if it will remain to be a point of confusion to buyers to see these listings, or a point of concern to buyers who no longer will have access to these listings and must wait to see if they come back on the market or eventually sell. xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

Fixed Route Bus Service Is Coming to Wellesley MA

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Tue, 11 Jun 2013 03:57:19 -0700

METROWEST REGIONAL TRANSIT AUTHORITY RECEIVES GRANT TO PROVIDE WELLESLEY FIXED ROUTE BUS SERVICE The MetroWest Regional Transit Authority (MWRTA) in partnership with the Town of Wellesley has received a competitive $400,000 grant from the Massachusetts Department of Transportation (MassDOT) to provide fixed route bus service in Wellesley. The grant will support new fixed route bus service linking Wellesley to the Massachusetts Bay Transportation Authority’s (MBTA) green line with connections to other bus routes in the MetroWest region. The funding is provided through the Federal Transit Administration’s Jobs Access Reverse Commute (JARC) program and administered by the Massachusetts Department of Transportation. The grant program recognizes Wellesley as a business enterprise center and the need to provide public transit access to businesses and other places of employment in Wellesley and the Metrowest area. The service is also designed to provide the general public with transit access within Wellesley. The bus service will feature the same “Charlie Card” fare collection equipment as on all MWRTA, MBTA subway, trolley and bus lines to streamline fare payment between the two systems. Cash fares will also be accepted. The vehicles used will accommodate disabled as well as bike riders, providing improved alternate mode access to the town’s commercial areas, municipal locations and educational institutions. “The new Wellesley service will build connections between the Boston and the MetroWest region allowing people to live, work and play seamlessly across the area without the use of a car” said Ed Carr, Administrator of the MWRTA. While a date for the new service to begin is not yet determined, Wellesley anticipates that service will begin in the Fall of 2013. Plans are underway for the dissemination of more detailed information and opportunities for public input before service is initiated. For further information, please contact: Metrowest Regional Transit Authority: Eva Willens – 508-935-2222 Town of Wellesley: Selectmen’s Office – 781-431-1019 x2207xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

National Real Estate Sites Hurt Consumers

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Mon, 10 Jun 2013 21:57:47 -0700

This is an interesting and compelling reason to use our site synergy-metrowest.com for the most current information about homes and rentals in the local communities that you are searching. As the old saying goes, the early bird gets the worm. But if you are a consumer using one of the national real estate sites like Zillow, Trulia, Homes.com, Redfin or Realtor.com to find a home, not only are you missing out on a gourmet breakfast, you are actually paying through the nose to go hungry! As agents, we get requests all the time to check out properties that prospective clients have found on one or all of the sites above. They have just spent hours upon hours perusing the web looking for the right deal. What the average buyer fails to realize is that these 3rd party national sites only get updated every five to seven days! This means that even in a "buyer's market," by the time the best deals are listed on the national sites, they are already under contract. In a competitive seller's market like most areas of the country are now experiencing, even a delay of literally minutes can mean it's too late to put an offer in and cost thousands of dollars. The Las Vegas real estate market has had almost a 5% price increase over the past month. Consumers that wasted a month looking for a home on the national sites during that time can now expect to pay $10k more for a home in the $200k price range. So why do buyers use these national real estate sites? The name brand recognition that comes from massive billion dollar TV advertising campaigns and expensive search engine marketing that the local sites can't compete with. Plus it looks like the national sites have a lot more listings than the local real estate sites, so consumers feel like they are being offered more "choices." But the national sites include the contingent or "under contract" listings as well as those that are actually still available to bid on. In many cases, under contract properties make up two thirds to almost three quarters of the listings on the national sites! Don't get me wrong, if you are just trying to get a general feel for prices in different areas of the country, the national sites make it easy to compare more than one real estate market on the same site. But the national sites are in business for one reason only - to make money. And the only way they can do that, is to come between the agents and their prospective clients and then charge the agent for the "privilege" of connecting them with the client. And the national sites have so much money for advertising, it is easy for them to beat out the local professional agents on the search engines. As a buyer, if you are actually serious about shopping online for a home, find an experienced agent with a great web site that is updated at least daily and does not include "contingent" listings on their site. Better yet, have that agent set you up to receive properties through the MLS the exact instant they hit the market so you have a decent shot at a purchase. Another hint - don't use an agent that comes recommended as a "local expert" by one of the national sites. That agent that is paying a hefty monthly fee to the national site to be proclaimed a local expert, whether they are or not. In most cases, well established Realtors will NOT have to pay to be called a "local expert." Diann TonnesenPrudential Americana Group RealtorsOver 30 years of experience helping families call Las Vegas "home!"Las Vegas Luxury Real EstateLas Vegas Luxury Condosxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

Help Boston B Strong

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Tue, 23 Apr 2013 01:00:47 -0700

With your help, One Fund Boston can help the innocent victims of The Boston Marathon Tragedy The Boston Marathon Bombings and the apprehension of the suspects - the pain, suffering and anguish felt by our families, friends and others, many of whom were present during the attacks - have left all of us with great sadness and a desire for answers to help calm our fears. Boston Massachusetts, which was the birthplace of our nation, and known for its resilient sprit will not be deterred! From all of us at WEICHERT, REALTORS®-Synergy, we would like to salute the First Responders and Volunteers who labored to save lives and keep the public safe over the past week. No one would have ever imagined that the face of evil would choose to visit Boston last week, but in the tragedy and aftermath, Boston’s true colors shown through like a shining beacon. WEICHERT, REALTORS®-Synergy supports the ONE FUND BOSTON which is leading the way for the relief efforts for the victims. If you would like to contribute, please click on the BOSTON STRONG icon below.

Martin E. Kalisker, Broker/Owner WEICHERT, REALTORS®-Synergy 2 Summit Avenue Brookline, MA 02446

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Is Energy Scoring Good For The Real Estate Industry?

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Mon, 25 Feb 2013 01:32:08 -0800

The City of Boston Takes a Serious Look at Energy Scoring Engergy Scoring, or the use of "uniform" rating tools designed to help property owners, landlords and prospective consumers of real estate to evaluate the energy efficiency of one property over the other, sounds appealing. But is it a good idea? Over the last few years, government regulators and utility operators have stepped up efforts to advance the idea of energy scoring in local communities across the country.Recent press coverage and attention to this issue by politicians has begun to emerge as environmental regulators in Boston are pushing the City to become the first municipality in Massachusetts to require both commercial and residential building owners (including condominiums) to “score” their building, or face enforcement and fines. Today, Mayor Thomas Menino sent a letter to the Boston City Counsel requesting that they pass an ordinance in an effort to regulate the "reporting and disclosure of energy and water efficiency in Buildings". Understandably, this is an area of great interest to many, and something that politicians would love to be on the right side of - however, this ordinance is only the first in a series of steps to implement a plan, which also calls for scoring and retrofitting a building’s inefficient energy systems at the time of property transfer. These efforts are relatively recent, but intensive: The current official plan for Boston recommends that “every home and commercial building should be evaluated for energy use and efficiency and receive an energy usage label…” The plan also recommends that "all buildings should be required to meet minimum energy efficiency standards before they can be sold." In 2011, City officials testified in support of the Commonwealth’s asset labeling program, asserting that the City strongly supports transition to a mandatory program to “allow the real estate market to properly value energy assets and performance.”In 2011, the City’s efforts to conduct thermal scanning of homes as part of their energy program was suspended after privacy concerns were raised by the ACLU, the Greater Boston Real Estate Board (GBREB) and others. Undoubtedly, the City of Boston's efforts to introduce the use of an energy score -- based on a property’s energy efficiency -- will affect the value of the real property’s value in the marketplace. Also known as energy benchmarking or energy labeling, energy scoring essentially requires owners to complete energy audits, report and disclose the results which will then be compared against other properties and evaluated or “scored” by government regulators. In this case, the City is targeting condominiums, multifamily residential apartments and commercial buildings, so the cost of implentation, enforcement and monitoring is quite high (some estimates are as high as $800 million.)While the Mayor's efforts to encourage energy efficiency, conservation efforts, and helping to preserve and protect or environment are admirable; those policies must not arbitrarily intervene with market forces, attempt to assign market value to buildings, stigmatize property, or otherwise interfere with transactions. While the City hopes to replicate energy scoring programs that have been adopted in other cities, there is no credible evidence to date that this regulatory approach is effective in achieving the goals for which they are intended. Requiring mandatory inspections creates an unnecessary financial burden for owners who already pay a surcharge on their energy bill for energy efficiency programs. GBREB's Response: Because no reliable studies of mandatory energy labeling programs for commercial buildings in the continental United States have ever been done, GBREB along with the Building Owners and Managers Association International, and the National Association of REALTORS®, commissioned an investigation by noted Harvard environmental economist Robert N. Stavins and the Analysis Group, a Boston-based economic consulting firm. Stavins specializes in the economics of energy efficiency and technology change. To date, Stavins and his team have raised many unanswered questions about the effectiveness of these laws and the programs they create. Building labels could affect property values, as properties that receive a “green” score see appreciation in their market values, while properties with a “brown” score see depreciation of their market value. Building energy efficiency labeling programs (“building labeling”) are designed to create and communicate information about a building’s energy efficiency performance beyond what is already available through these other mechanisms. Building labeling programs that have been adopted in some cities vary in the quality and usefulness of the information developed, and the requirements and costs imposed on property owners. Policies that require “low-scoring” buildings to undertake energy audits or raise their energy performance can raise costs to affected building owners. Each building structure is unique and benchmarking tools often fail to accurately capture building energy performance. Consequently, simply because a building has a low energy performance score does not mean that owners can make energy efficiency investments that will produce greater reductions in energy costs. The rationale for energy benchmarking offered by the City raises many serious unanswered questions. In one report, the City indicated that the intent of benchmarking initiatives is to ensure potential real estate market purchasers are fully informed about energy performance. However, the City generally does not impose public disclosure requirements on property owners for other types of information that might be valuable to property purchasers, such as the MCAS scores for neighborhood schools, crime statistics, or the location of public transportation. Individual market participants determine what information is important to them and use available options, such as conducting their own inspections, whether residential or commercial or review of utility bills, to gain desired information.Local industry advocates have expressed concerns not only with the economic impact to the business community but to the adverse impact on housing affordability. As I mentioned before, this issue seems to offer a lot of potential political "punch", so it is only time that stands in the way before other neighboring communities begin to address this issue. Click here to see recent Boston Globe articleClick here to see a recent Boston Herald articleClick here to see a copy of the ordinance xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

A Million Dollar Question

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Thu, 17 Jan 2013 03:50:36 -0800

Do odd-priced listings attract more or less attention? I recently ran into a situation with a listing agent who put a new listing on the MLS for $232, 574. This struck me as unusual, so I spoke with the agent and asked her "why the odd amount?", thinking that she would tell me that this was a pay-off amount for a loan balance, or that this was a set price by a housing authority that places income and asset limits on new buyers and restricts the appreciation on a subject property. The answer I received was equally interesting. "That's what they teach us to do at BRAND X Realty. They teach us to grab the buyer's attention by putting in an odd amount." Being one to love a challenge, I told her that I would be posting this question to a panel of peers (and consumers) to get their reaction. As someone who looks at real estate listings, what is your reaction when you see a home listed for $232,574? Would you think differently if the home was listed for $232,000, $232,500 or $233,600? Does the "odd" price solicit a positive or negative first reaction? I'm curious and am opening this up to the AR Community and any members of the public for comment.xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

Prime Newton Highlands MA Location

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Fri, 28 Sep 2012 04:37:09 -0700

Wellesley MA is a Green Power Community

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Tue, 04 Sep 2012 05:35:45 -0700

US EPA names Wellesley MA as the first Green Power Community in Massachusetts On Tuesday, September 4, 2012, the Town of Wellesley was named by the U.S. Environmental Protection Agency as the first Green Power Community in Massachusetts, and the second in all of New England at a ceremony at Wellesley's Town Hall. For the Town to be designated as a Green Power Community, at least 3% of the community-wide electricity use must be "green power" --- electricity generated from renewable resources such as wind, solar, geothermal, biogas and low-impact hydropower. Wellesley's current community "green power" usage is at 4.12%. Wellesley residents can participate in the Town's Power to Choose campaign by signing up and/or increasing the amount of renewable energy they are currently using at http://www.wellesleyrenewableenergy.com/ xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

Dual Master Bedrooms the Wave of the Future?

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Wed, 22 Aug 2012 05:32:53 -0700

If it's good enough for Rob and Laura Petrie, it's got to be retro I think I have just "aged" myself by making a reference to Rob and Laura from the Dick Van Dyke Show, which was a '60's classic. I still remember the "bedroom scenes" where not only was television more politically correct, but Rob and Laura shared different beds. My parents always slept in the same bed, but I was too young to grasp why Rob and Laura slept in different beds. Turns out that maybe it wasn't just political correctness. Maybe one (or both) of them had a problem.... According to a blog post that I recently read, the National Association of Home Builders expects that 60 percent of custom-built homes will include dual master bedrooms in the year 2015. Reasons given were that a lot of couples fight in the bedroom because of things like snoring, bed sheet hogging, different air temperature levels in the bedroom, comfort of the mattress, etc. Some of this I can relate to, some not so much. What I found particularly interesting is that this blog estimated that 25% of Americans and 10% of British couples (not Prince Harry - he stands in front of windows in Las Vegas hotels in the nude with girls he just picked up - - oh wait, that's a different blog post that I read) sleep in separate beds. So, the National Association of Home Builders may be on to something here. I wonder, though, if our local MLS will be receptive to creating a new search field "dual master bedroom."xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513

That Mezuzah Has To Stay!

Martin E. Kalisker, Esq., Real Estate Law From A Practical Perspective — Thu, 21 Jun 2012 06:54:54 -0700

Would you dig up St Joseph after the sale of a home? The heading is a bit tongue in cheek, but the point is real. I recently had an experience where an uninformed (see, I can be nice) real estate agent and seller's attorney took a rather unsympathetic view on my buyer's wishes. The Mezuzot (plural of mezuzah) have to stay! Jewish law states that a homeowner shall not take down the mezuzot if they know that the new occupants are Jewish. The talmud recites a story about a person who removed the mezuzot from his home when he moved and ended up burying his wife and sons. So, as with all good things Jewish, there are lessons to be learned... With a bit of imagination (the other agent was no help), I was able to decipher the issue with the sellers. They weren't especially observant and didn't know that when one sells a home with mezuzot to another person of the Jewish faith, the mezuzot need to stay. So, once I "educated" them as to the import this was to my buyer client, they moved on to their next "objection." They wanted money for the mezuzot, since they now felt that they were not originally included in the price of the "real estate". Oy vey! Now, I'm not really what you call "observant", and I have my own feelings about religion in general. But one thing I am NOT going to mess with is Jewish law which has been passed down from generation to generation for pretty much longer than you or I can remember. So, without having to swallow my pride and have to explain to our Rabbi why I couldn't answer this myself (given that I too can trace my ancestors and heritage back way past any of us can remember - oh wait, I get it now "we shall never forget"), I did the next best thing. I went to the internet for an answer. It seems that this is a common problem amongst our brethren. The seller has something of value, and I want it. Well, it's not that I want it, because I really don't like your mezuzot, but you have to give them to me because the talmud says you have to (I just made a grammatical error, but screw it). Ah! the Poskim (wise rabbinical judges) have the answer! Both of you can save face and be mensches. Seller, you say that you would be happy to leave the mezuzot, but would like to be paid for the value. Buyer, you say, "thank you, but I would like to affix my own mezuzot." Basta. Done. The spell is reversed. Can I take this one step further? Ordinarily, if the mezuzot come down, new ones need to be affixed right away. For after all, the mezuzah is considered torah and one shall never live without torah and the prayer of Shema Yisrael, which eminates from the mizvah (commandment) "to inscribe the Shema on the doorposts of your house" (Deuteronomy 6.9). But what if the sellers want to move and take the mezuzot before the new (Jewish) family moves in? Again, those wise Poskim have permitted that mezuzot can be taken down for such purposes as, say, painting (and the mezuzot do not need to be affixed again until the home is occupied by a Jewish family - this holds true whether you are leaving the mezuzot or the new owners are bringing their own). So, the story has a happy ending. But I still don't know the answer about St. Joseph. Do you or do you not dig him up after the home is sold? xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx BORED WITH YOUR CURRENT JOB? Do you feel like your office is holding you back from your true potential? Is your broker competing with you for new business? Do you sometimes wish that you could work with an energetic and fun team of seasoned and new agents that enjoy the benefits of being affiliated with an office that provides superior technology; a lucrative compensation package, including profit sharing; company generated buyer and relocation leads; and office management that does not compete with agents for new business? Come see what Synergy Metrowest, Inc. has to offer. Interested? Contact us now or call us at 781-694-3513