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Sterling, Massachusetts

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Central MA Real Estate Guide

Talk about the "bottom" coming

Apr. 14, 2008
Categorized in: market conditions

I did something yesterday that I have been shying away from recently ... I read The Big Move , which is the title of yesterday's Boston Globe Real Estate section.  Sometimes I feel the need to torture myself, and fill my head with even more negative news about my industry. 

Of course, there is more than enough (bad news)to go around.  I'm not an ostrich, although, there are days I feel that if I read one more thing that tells me the sky is falling, burying my head in the sand and staying there looks really good.  So, I have made a conscious effort to discriminate about what I read in order to fill my head with positive images and thoughts.   

Why I took the risk yesterday is just one of those things that cannot be explained.  And I got a pleasant surprise.  The "R" word was mentioned fewer times than I have fingers on one hand, there was a sense of optimism in the several articles and some good solid advice for both sellers and buyers. 
It was, in my opinion, a real turn in the tide of the "gloom and doom" we have been assulted with for more than just a couple of years.  You can read them for yourself.  A few had a focus on sellers , another few with a focus for buyers , and gave some really good advice. 

So, no, it's not a great time to sell.  Yes, it's a pretty great time to buy, especially as a first time homebuyer.  The 2 are never going to align to be good at the same time.  Kind of like the World Series ... there is a winner and a loser and never both at the same time.  There are good strategies for both, and from my perspective, that is good enough reason to begin reading about the real estate marekt again!

It's a Patriots free weekend

Jan. 25, 2008
Categorized in: market conditions

This is a football free weekend......leaving Patriots' fans all over the nation sitting on pins and needles.  The anticipation will leave many anxious and at loose ends.

One way to quell that nervousness is by getting out to look at houses.  If you are even THINKING about the prospect of buying a home, whether it be as an investor or a primary residence, the drop in interest rates and prices makes this a prime time to be shopping.  There has been an increase in properties going under contract in the past month.  Many of those are seeing multiple offers. 

There are a few things you must do before getting out "in the market" to be prepared.                         

  • First and foremost, meet with a lender you know and trust and get pre-approved.  If you are considering putting an offer on a property (and you never know when you "know" you are in the "right" house), a pre-approval is essential to accompany the offer.  In today's market, most agents or sellers won't even consider an offer that does not have a pre-approval to review at the same time.  If you are in a multiple offer situation, this can make the difference between having your offer considered with the others, or not. 
  • Secondly, find a Realtor® who will represent your best interests.  If you are reading this thinking, "I don't know any Realtors®", the best place to start is by talking to anyone you know who owns a house.  Ask about their experience with the Realtor®, and get referrals.  When you speak to the agent, find out if the agent is either an Accredited Buyer's Representative (ABR®) or Certified Buyer's Representative (CBR®).  Agents with either of these designations have taken courses and have been trained extensively in buyer representation to earn these designations.  A good buyer's agent will conduct an initial consultation with you to find out more about you, your expectations and what you are looking for, as well as spend time with you explaining the process of buying a home.  You wouldn't expect a doctor to perform surgery without first spending time with you to find out what's wrong, correct?  Be wary of the agent who is willing to put you in the car to view houses as soon as they hang up the phone with you and before this important first step has been completed.  Furthermore, remember...the seller is being represented by their agent.  It is vitally important that you have your own representation. 
  • It's also helpful to find out if the agent you are meeting with is an ACRE (Accredited Consultant in Real Estate).  This is a relatively new designation and so there are not many out there.  Again, agents with this designation have spent time in extensive training to work as a consultant with their clients.  Just as you would have a lawyer advise you on legal issues, and a CPA work as a tax consultant, a real estate consultant is truly working in your best interest.  You can find out more about this topic on my website at and click on the ACRE  icon on the top right.

So, if you are antsy this weekend, there is a lot to be on the lookout for in the real estate market.   Enjoy!  And Go Pats!!!