Real Estate and *stuff *
A real person helping real people with real estate
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Video of Master Bath at 1565 Main Street in Holden – Open Thursday 1/12 at 5pm
January 6, 2012
The upgrades in this contemporary in Holden will take your breath away! A complete redesign has been done on this house to offer it’s next owner maximum luxury and flexibility. With a first floor master, in-law apartment, fireplace, media room, wet bar and four bedrooms total with 3 full baths – this contemporary will rival any colonial in the area.
Completely redone from the studs forward and never lived in – this is a brand new house! We’re open this coming Thursday, January 12th, 5pm to 6:30 – come take a look!
Here is the shower for the Master Bath. It features 10 water heads, body dryer, steam sauna, custom travertine, recessed custom glass front cabinet and is on the first floor. This is just one small example of the upgrades in this house!
A commentary on the cold weather…from one of my clients
January 5, 2012
It’s truly a joy to meet new and interesting people as part of my job – it’s one of the things that makes me happy to do what I do. I received an email yesterday that contained this well written piece on how we are so fussy about the cold and hot weather. Tim is a free-lance writer and it’s so well done that I just had to share it. Thanks Tim!
“At a party in the city, a new transplant to the area waxed poetically about all the wonderful activities Chicago had to offer. Another member of the group had finally heard enough and interrupted. He observed that it was a good thing there are enough people like him to keep the countryside from getting too crowded for the rest of us to enjoy.
Many people feel the same way about heat or lack thereof. It may be difficult for someone who has grown up with four seasons to grasp the concept of giving up on winter, but there are those raised in the north who move south and settle for hot and hotter. They probably spent most of their lives inside and never learned to appreciate what the great outdoors has to offer.
Perhaps it is a figment of the writer’s imagination, but it almost seems to be a more cheerful place without the malcontents that harrumph and bah humbug the transitional seasonal benefits of fall and spring coupled with the glorious events and opportunities presented by a real winter sandwiched in between. One has to wonder what will happen to the sun belt states once they have too many people tripping over each other. The only thing scarier than avoiding the other drivers in crowded places like Florida is staying out of their way when they are up north trying to drive on ice and snow. While fun to watch, the carnage does raise our insurance rates.
Although we do have air “conditioning” available during the summer, it’s only needed in more temperate climes about three days per year. Aside from factories, motels and office buildings with windows that don’t open, we don’t have to tolerate the dry, moldy air at home. Only on elevators and certain stores are we bombarded with obnoxious scents from perfume, candles and potpourri that can’t be filtered out or vented away. Up north the addition of a coat and gloves permits full enjoyment of the crisp, pristine air in the winter during a brisk walk followed by a hot chocolate by the fire after.
The cost of air conditioning in the south now exceeds heating costs up north in properly insulated dwellings and one doesn’t suffer from thermal shock entering or egressing from buildings with a 40°F differential in the summer. I’ve always been uncomfortable in a suit and tie when going from a frigid building to a hot car in the parking lot during triple digit weather. Permanent transplants to the south must also build up a tolerance and avoidance system for snakes, mosquitoes, fire ants, insects swarms, alligators and other critters over time.
Of course, there always are people on the fence who prefer the same boring weather year round without the joys of a northern winter or having to deal with the intense summer heat of the sunbelt. Snowbirds migrate to the south during the winter to avoid participation of winter sports and the cardiovascular benefits of shoveling snow, but also want to escape the extreme temperatures and humidity in the southern summers. Retirees will return to the northlands in the spring to spend summers in cooler climes with the grandkids.
In summary, there are those who either blow hot or cold on the issue of heat while others believe following the temperate zones up and down the country with the seasons isn’t strictly for the birds. ” Tim Parker
End-of-Year end Housing Tips – How to Save Your Money Using Your Home – Video with Alex Charfen on Fox and Friends
January 3, 2012
I want to circulate this video interview on Fox and Friends that featured Alex Charfen because as I was watching it, I realized it is a very complete 5 minute overview of the housing market today. This is some great information for buyers, sellers, investors and realtors. I have recapped his main points in case you don’t have the time to watch the video.
Video link: http://youtu.be/fd7LHQV4y9A
Main points:
Tip #1: This is PRIME time for home buyers and investors: Alex points out that we are at record or near-record low interest rates and property values have dropped between 30% and 50%. We are only expecting single digit decline in the first part of 2012. “Buying at the bottom” is something that only happens if you are truly lucky and we are at bottom by all accounts.
Tip #2: Review your property tax bill carefully: if the value of your property has come down – you should only be paying taxes on the value. There are services that can help you change the property tax value or you can approach your town yourself with an abatement request.
Tip #3: Take advantage of home energy tax credit programs: consult with your tax accountant to see what energy improvements you made to your current home during 2011 will qualify for a tax deduction on your federal return.
Tip #4: Right size your space: Up until about 2007 the thought was “bigger was better” but that has reversed and people are looking for smaller spaces. The thought behind this is that it’s not just the purchase price of the square footage but it’s also the insurance, heating and cooling costs that go into maintaining a larger amount of square footage. If you can “right size” your space, then you can lower your overall expenses.
Tip #5: Be water wise: some areas have very expensive water bills so watch your appliances, washing machines and landscaping. Zero-scaping is a concept that has zero water usage for landscaping. The overall cost of owning a home can be reduced by being “water wise”.
Short sales and Foreclosures: Foreclosure is absolutely the last alternative and worst-case scenario for a troubled home owner – a record number of short sales were approved in 2011 and banks are more willing than ever to work with these deals. Chase, Bank of America and Wells Fargo are, in some cases, paying the home owners to short sale and move on to a different property.
On average, all the banks have improved their short sale processes and the transaction is almost as fast as a normal transaction. Short sales a dignified solution to a traumatic financial crisis for many homeowners. Find a real estate agent that understands short sales (easily identified with the CDPE designation) and that will shorten the process as well.
Special Open House Event! Want to learn how to get an upgraded house mortgage?
January 2, 2012
I love doing open houses that are more than just an “open house” and this is one of them! Come join myself and Dan Woznicki from Wells Fargo at 1565 Main Street in Holden on January 12th for a Special Open House Event!
This house has been completely rehabbed from the studs forward into an amazing contemporary home that has so many extras it’s hard to list them all. Old World Construction completely the transformation and it’s now for sale as a brand new house! Dan Woznicki is a Certified Renovation Specialist from Wells Fargo and he can tell you how to pack these upgrades into your mortgage.
1565 Main Street has some of these upgrades in its resume:
– Solid Maple Cabinets
-Brazilian Cherry Hardwoods
-Fireplace
-Granite
-Etched Glass Shower Doors
-Custom travertine tile
-Media Room
-Wet Bar
-10 Shower Heads with MP3 player in the Master Bath
Not only does it have every upgrade a buyer could want (and quite a few we haven’t dreamed of yet) but it’s a very versatile and functional house. You can have single level living with the Master Bedroom and Master Bath on the first floor, complete in-law in the lower level with walk-out, lot can be commercial zoned for an in-home business or just enjoy it as a single family with it’s four bedrooms and 3 full baths.
Stop in on January 12th between 5pm and 6:30pm at 1565 Main Street in Holden and see for yourself!
They Drop WHAT on New Year’s?
December 31, 2011
The big crystal ball in New York’s Times Square steals all the attention on New Year’s Eve. But it’s not the only game in town.
Cities all across the nation have created their own traditions to mark the passing of time. From gigantic fish, to a delicious dessert, to a drag queen… these New Year’s celebrations will have you saying “They Drop WHAT?”
Raleigh, North Carolina
A Big Acorn
Port Clinton, Ohio
Oversized Walleye
Mobile, Alabama
A Moon Pie
Easton,Maryland
Big Crab
Bethlehem, Pennsylvania
Marshmallow peep
Key West, Florida
Red High Heel (and a Drag Queen)
Mount Olive, North Carolina
A Giant Pickle
What are you doing for New Years?
Contemporary home in Holden has ALL the extras!
December 29, 2011
There is something for every buyer in this completely remodeled contemporary home! Completely custom built with not a detailed spared! 4 bedrooms, 3 full bathrooms, master suite on the main level and a huge backyard!
Here is the short list of upgrades:
– Imported Italian marble foyer
– Brazilian Cherry Hardwood Floors
– Recessed lighting
– Anderson windows
– Custom solid brass fireplace doors
– Wood burning fireplace
– Solid Maple Cabinets
– Custom Travertine Backsplash
– Custom mosaics
– Stainless steel Bosh appliances
– Breakfast bar
– Wet bar
– Master bath with 10 waterheads in shower
– Body dryer
– First floor Master bedroom
– Media room
– In-law Suite
– Can be commercially zoned
This is not a home for just any buyer…this home is special!
SNEAK PEEK!
December 25, 2011
Coming to market in time to ring in the New Year! This contemporary in Holden is BRAND NEW and offers single level living with so many upgrades that any buyer will be impressed! Stay tuned for details and a special event!
Deficiency Judgment Explained with video
December 22, 2011
This is an excellent video that explains what a deficiency judgement is. I was speaking with a distressed home owner this afternoon and her biggest obstacle in her efforts to get a mortgage modification was that she could not understand exactly what the various terms meant when she was speaking with her mortgage company. She was hesitant to agree to conditions that she didn’t fully understand.
This video describes a lender’s right to a “deficiency judgment” when a property is sold in a short sale or foreclosed upon. Agents who hold the Certified Distressed Property Expert (CDPE) designation are trained to help homeowners navigate alternatives to foreclosure, and can provide answers to the many questions surrounding America’s foreclosure crisis.
I am a CDPE and you can contact me at 508-784-0504 or amymullen@remax.net for a free consultation to find out if a Short Sale is right for you. You can also visit www.dontforeclosenow.com to review all of your options.
Watch this video on “What is a Short Sale?”
December 21, 2011
Have you fallen behind on your mortgage payments, and don’t know what to do? Watch this brief video, and find out what a Short Sale is, and why it may be the solution you have been searching for.
Then contact me at 508-784-0504 or amymullen@remax.net for a FREE consultation to find out if a Short Sale is right for you. You can also visit www.dontforeclosenow.com to review all of your options.
Short Sales 101…or the rant of a short sale listing agent
December 19, 2011
Okay – I have to voice this or I might just explode! I would love to get a few basic messages across to the various parties in a short sale in hopes of making this process easier and faster for the next person who utilizes just one of these tips. Even if just one person takes a point from this – my day will be complete!
After working on several very difficult short sales in the past month I have found myself at a point of exasperation a few times while staring up at the ceiling of my office, or the soft top of the Jeep and talking to myself. This is distributing to both myself and any passerby’s. I know that short sales are difficult and they are especially hard on the home owners who are facing of variety of challenges in their lives BUT with these few simple tips…we can make them easier.
So…here you are…by party involved…my advice in simple terms:
BUYERS
- We do realize you are helping the sellers by offering to purchase their property and they hope that you will enjoy it and love it as much as they have. They have raised families, enjoyed moments and poured money and physical effort into their homes to watch it sell at a loss. This is difficult for them and your appreciation of that goes a long way. So please – don’t treat the house as if it’s already a foreclosure and walk around it at will. Make an appointment, have your Realtor with you and respect their personal belongings.
- We also realize how hard it is to wait for an answer while the short sale is being processed through the bank. If there is more than one lender involved – this is an even longer process. It’s improved A LOT over the past year and we are now seeing very short processing times but we know that anything longer than a day is hard. I have been a home buyer and I know how anxious you are – how excited you are – and how much you want to buy THAT house! But please – don’t insist that your buyer’s agent call the listing agent daily to find out what’s going on. Chances are – they don’t have an update and will let your Realtor know when they do.
- You are enjoying almost instant equity in your purchase because short sales have a lower market value of identical properties that are traditional sales. This is because of the risk associated with your patience and waiting. Please don’t insist your agent submit insanely lowball offers – the bank will not accept them because they know what market value is, your agent will be embarrassed to do so and the seller will be insulted. It wastes everyone’s time including yours and results in both sides of the transaction feeling slighted and unwilling to negotiate. A well thought out offer with a reasonable price in comparison to market will get all the parties talking and result in a very good deal for you.
- Use a lawyer who is experienced with short sales. Your Realtor will more than likely have a few to recommend and consider their recommendations. A short sale transaction is not a typical sale and the attorney in your corner needs to be able to navigate it.
BUYER’S AGENTS
- EDUCATE your buyers! We deal with short sales every day but they don’t and might not ever again. Please set a reasonable expectation prior to even showing your buyers a short sale listing so that they know what they are getting into. Be sure they understand there is a process to it and that the closing time frame might not be what they expect.
- Interview the listing agent ahead of time. Have they done a short sale before? How many? With what lenders? Who does the negotiating? If the listing agent is experienced, holds a CDPE or other distressed property certification then you can proceed with some confidence that it will be handled well. If not, then be prepared to take on more responsibility for the deal.
- If you haven’t offered on a short sale property before –that’s OKAY! But let the listing agent know so that they can be more educational for you during the process. If they don’t have time, get an agent from your office to mentor you through the process and then you’ll be good for the next one. Don’t have anyone nearby that is willing to do it but your buyers really really REALLY want that listing? Refer it out – your clients will appreciate the maturity and experience that you demonstrate by knowing when you should seek help.
- Please also treat the house with respect – it’s not a foreclosure and it’s not always vacant. Don’t assume that an 8pm showing on Wednesday night is okay when you call at 6pm. Short sales are an option so that the home owners can move on with their lives with a sense of dignity and responsibility – let’s help them do that.
LISTING AGENTS
- Please please please treat the house with respect! (This is a reoccurring theme). It’s still a listing and although some short sales are lacking some basic maintenance due to the home owner’s financial situation – they are still privately owned. Take full pictures, disclose its short comings and present it in its best light. A short sale listing should not look like it was an embarrassment to take.
- Please list to market price and do so aggressively. Your sellers need an offer quickly and pricing it way above market will only prolong their misery.
- Please respond to showing requests in a timely manner and please let your seller know that there is a showing. As much as the buyers have to demonstrate some restraint the sellers have to show some willingness and you are the first point of contact. Set the tone and all the parties will appreciate it.
- Please PLEASE do not take a short sale listing if you are not properly educated. The risk involved for your clients is grave and a foreclosure is not quickly forgotten. If you have not listed a short sale before then refer to a mentoring agent in your office. If you are unable to, then refer the listing all together. Your client’s financial future is at stake and this is not something that you can “try” and “see how it goes”. Get educated and get someone to assist you through the process that has the experience and education. Your clients will appreciate and value your expert assessment of your skills and the care and consideration you gave them.
- Please recommend a lawyer to your sellers who are experienced with short sales. It makes a huge difference during the process and not all real estate lawyers have done short sales.
SELLERS
- Clean your house! I know it’s hard to continue to put effort into your house when it has a foreclosure notice or an auction date. Maybe you have already moved out or in the process of finding a new place. When there are so many memories and it’s hard to be in the house at all, it’s even harder to clean. BUT – it needs to be done. You need the highest market offer possible and having a clean house is a great way towards that.
- Be open to what your listing agent is telling you. A market price adjustment is not an attack on how you kept your house or what you did to it. Look at the information he/she has and realize that they are working in your best interest.
- Make sure you provide your listing agent with all the documentation items that they have requested. They are not asking you to provide the information because they want you to have yet another unpleasant task – the banks require that information as part of the short sale and not providing it will only create delays. They are bound by Massachusetts Privacy Laws to protect your information and take great care with it.
- Understand that the buyers are excited about their new adventure just as you were at one point and will be again soon with a successful short sale. This is a new chapter in their lives and they might be overly excited. Give them a minute, they will realize the situation.
- Understand that they buyers have been fed so many different pieces of information from the media that their low ball offer is not based on an educated opinion. Give them a chance to come around and realize that a “short sale” is not an “Ocean State Job Lot House Day Sale”.
- Please don’t yell at your listing agent when you want to yell at the bank. We’re a tough bunch and we can take a lot but we really do care about you and your situation. And if you have to yell at us…please remember to apologize.
What a relief to get all of that out! This blog is not meant to be an instruction to Short Sales nor is it in reference to any listing currently on the market, expired, sold or foreclosed. This blog was meant to make just one short sale transaction easier at a time and add to the recovery of our housing market! Remember – the housing market is seen as setting the stage for almost every other sector of our economy – let’s get it back on its feet! For more information on short sales visit www.dontforeclosenow.com.
