Real Estate Report Reveals Uptick in Activity”
The Real Estate Lady
All about Real Estate, Townsend, MA and Me…
March 17th, 2014
September 29th, 2013
What do all those letters mean? This article that I wrote for our Bay State
Realtor Magazine gives a little insight on one of the National Association of Realtors designations….
January 13th, 2013
Streamlined Purchase and Repair Program
(Limits: <=$35000)
Simple Purpose:
To facilitate the uncomplicated rehabilitation and/or improvements to a home for which plans, consultants, engineers and/or architects are NOT required.
The following is a list of the discretionary improvements and or repairs included in the program.
* Repair/Replacement of roofs, gutters and downspouts
* Repair/Replacement/upgrade of existing HVAC systems
* Repair/Replacement/upgrade of plumbing and electrical systems
* Repair/Replacement of flooring
* Minor remodeling, such as kitchens, which does not involve structural repairs
* Painting, both exterior and interior
* Weatherization, including storm windows and doors, insulation, weather stripping, etc.
* Purchase and installation of appliances, including free-standing ranges, refrigerators, washers/dryers, dishwashers and microwave ovens
* Accessibility improvements for persons with disabilities
* Lead-based paint stabilization or abatement of lead-based paint hazards
* Repair/replace/add exterior decks, patios, porches
* Basement finishing and remodeling, which does not involve structural repairs
* Basement waterproofing
* Window and door replacements and exterior wall re-siding
* Septic system and/or well repair or replacement
Simple process:
1. With P&S submit contract work plan/estimate
a. Home-owner/Contractor sign agreement (includes a one year warranty from contractor) [FHA Form 2420]
2. Home is appraised
3. Loan approved
4. Purchase closes
5. 35% disbursement if needed for materials about 10-20 days after closing
6. Work starts inside 30 days of close – must be completed within 6 months
7. Repair project completed
8. Final inspection done if needed
9. Rest of disbursement
Information provided by:
Tony Cardinali of Mortgage Master Inc.
June 6th, 2011
May 31, 2011: NAR President Responds to TODAY Show
In this letter to TODAY Show producers, 2011 NAR President Ron Phipps defends REALTORS® in response to the show’s May 31, 2011, segment, “House Hunting? Don’t Fall for These Tricks.” The following is an excerpt from the letter:
“Realtors® are working hard in today’s market to help people sell their homes to buyers who want to realize their dreams of owning a home. Not only did today’s segment, “House Hunting? Don’t Fall for These Tricks” unfairly disparage these hard-working professionals, it also misled viewers rather than giving them helpful, accurate information about buying and selling a home.
In all honesty, the entire segment seemed sensationalist and slanted – rather than give buyers truly helpful tips and advice, you preferred to plant suspicions and spread misinformation.
Several recent studies show that a majority of Americans – both homeowners and renters – believe in and aspire to homeownership, and Realtors® are working to bring sellers and buyers together in that context. The segment suggested that listing agents intentionally mislead buyers, when in fact many of the tactics you describe simply help position homes in a competitive market. As a condition of membership, Realtors® must subscribe to NAR’s strict Code of Ethics, which includes being honest with all parties in the transaction.”
In addition, the term “Realtor®” is not a generic term for real estate professional. By referring to “Realtors®” throughout the segment, Matt and Barbara were specifically, although we hope not intentionally, describing members of the National Association of Realtors®. In the future, please refrain from using this term as catch-all for “real estate agent.”
Instead of relying on in-studio discussions about the real estate market, why don’t you go out into the field and cover Realtors® as they help actual buyers and sellers in today’s environment – whether they’re helping homeowners make a life transition, helping sellers avoid foreclosure through a short sale, or working with first-time buyers who aspire to own a home of their own? We would be happy to help you with resources and logistics.
As a working Realtor® and president of the National Association of Realtors®, I offer to come on the TODAY Show to share insights into what’s really happening in today’s real estate market and provide information your viewers can truly use when buying or selling a home. No “tricks,” just the facts. I look forward to hearing from you.
Sincerely,
Ron Phipps, ABR, CRS, GRI, GREEN, e-PRO 2011 President National Association of REALTORS®
February 18th, 2011
Many folks already know someone or would just call the person they have done business with before but if you are not that lucky, just how does one find a real estate professional? I don’t mean choose a real estate professional with regards to experience and qualifications but the actual first step of searching for one (or three).
I will often Google myself or do a search on some the the real estate portals that contain my listings to keep up to date on how the consumer is being served and tweak the ways to serve my Buyer and Seller clients. Here’s what I stumbled upon on Zillow today. Under the Directory tab, I choose Town of Townsend, MA- Real Estate Agents.
The results were 23 and yes, I am glad Sodano Real Estate is one of them seeing that I am physically located in Townsend. One of the results doesn’t even have a real estate license. Two of the results are located at least 1.5 hours away I bet they don’t know where Townsend is. The rest are located 20-45 minutes away. Aside from the town(s) that an agent claims to be in their marketplace, Zillow uses a rating system by how many contributions one makes to online questions. Great concept, except some of these so called questions are absurdly made up junk by people that looking for a laugh and agents will actually attempt to answer to increase their ratings.
Here’s an example of a pretty good question that a homeowner asked in October of 2009: Should I paint the woodwork or leave natural……? Well, it got 40 plus answers from agents, but here’s the kicker; 16 of the responses were posted in October of 2010 to just yesterday. Are you kidding? Do you think the guy has made a decision by now?
Real Estate on the internet can get quite overwhelming, so if you are looking for a professional that knows their marketplace start with someone located in that area. Avoid the online lead generation traps and just find an online map search like Google and type in a specific town with state and “Real Estate Agencies” Your results may get you a little closer to home!
December 1st, 2010
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Dos and Don’ts of Homebuyer Incentives
Homebuyer incentives can be smart marketing or a waste of money. Find out when and how to use them. Read
Visit houselogic.com for more articles like this.
Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®
November 17th, 2010
Sure, but why limit yourself! Are you a first time home buyer? Investor? In a hurry to move? Need financing or paying cash? Just looking for a deal?
We’ve got 3 different types of properties: Arm’s Length with real, live Buyers and Sellers negotiating and making decisions, the dreaded Short Sales and REO (bank owned) which people think are the best deal.
Arms Length: “Traditional” transaction where property is listed and sold on the open market at fair market value without duress or special circumstances that affect value. Typically, property conforms to lending requirements and closes upon agreement of the parties.
Short Sales: Transaction where property value is less than outstanding Mortgage. Once Seller gets an offer that’s viable, Seller will have to prove their financial hardship and need to sell in order to get the bank to release the lien and approve the sale. This added layer of time and uncertainty to the closing process turns many Buyers and Real Estate Professionals away from even looking at these properties which certainly affects value. This is why “Short Sales” may sell for less.
REO/Bank Owned/FORCLOSURE: The Bank or Lien Holder is the Seller. Property condition is “AS IS” and terms of sale are usually non-negotiable. Because of lending requirements, these properties are tough to get financing and many are for investors or cash only Buyers because they need 10’s of thousands of dollars worth of work.
In many cases these situations spell out the type of Buyer but there are always exceptions to the rule so don’t rule out the possibilities. Never forget that every Seller wants market value but…..It’s a Buyer’s market with opportunity for a deal everywhere. Call the REALTOR® that you know and love to tell them your criteria, concerns and motivation for buying (assuming they’re your Buyer Agent). Your REALTOR® knows the local market and can be your best advocate for homeownership or investment.
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