Real Estate Information

Yes, the pricing trends is unbelievable!

At 5:55 am, I'm readying my self for our weekly Rotary Club meeting. We meet just a few minutes from my home. I could walk, but I don't. There's just not enough time. Our Club members meet at the Cochickewick Lodge in the Old Center, next to the North Andover Youth Center. Meetings start at 7:15 am but we make an energizing breakfast for about 35 members each Thursday morning.

I arrive about 6:30, later than Carl and Scott. They hold the scrambled eggs for me. Even my son, Greg, says I make the best scramble eggs. The splash of half and half almost seems unecessary but I add it every week. 

Great meeting with fellowship and learning a bit more each week about how to serve. One another, our loved ones, our community, our co-workers, our neighbors, our country, our world, our environment, our earth, our children, ourselves.

Before bed last night, I typed a list of to-dos. 21 things. As I reviewed it, there were a couple of outstanding return calls but mostly my day would be about doing things for others to help them to accomplish their goals. That sounds simple enough.

I've got Home buyers who deserve their first home and need to find something they can imagine living in, and that means location, condition, the space, the yard. I've got to teach them (before they find the place) how to make an offer at a price that they can afford and is in line with a fair price, that feels like a good deal for the buyers AND that the seller will be willing to accept, with mortgage and inspection terms that the mortgage lender and investor will accept, with a closing date and occupancy date that the buyer and seller can agree upon, so that the seller has time to go and find a new place for his family and that deal will probably need to close the same day as they move out and sell to the buyer, and then the seller of the house they are buying will probably want to find a place to move to and close the same day too. Yup. I've got 2 of those I've got to work on today.

I've got 7 listed sellers who have entrusted me to help them get their properties in front of lots and lots of homebuyers, and it's up to me to drive as much activity as possible to their property, more activity than the competing homes for sale, get them the feedback and responses from the buyer's agents and the buyers, in anticipation of showings (buyers looking), and offers (if they love it). These sellers REALLY want to sell and I've got to figure out what I can do right now today to help make that happen. I've probably got nothing much more important than that to do today.

I've got to find some houses that aren't even listed yet because some of the buyers can't find anything from the currently listed inventory that is right for them and they want to buy! Who am I going to call? I'll have to just keep asking if they know anyone looking to sell or perhaps they themselves are thinking about selling.

We had a showing on one of my listings about a month ago and the buyers really seemed interested. I happened to be there at the house for the showing with their agent. I haven't heard a thing since. I've got a call into the agent in case there's anything I can do to stir that up at all. Maybe he's dropped the ball and then, what can I do? I don't know the buyer's telephone number, so I can't call them. This could be our buyer and I've got to get the house sold for the sellers who are downsizing. I'll have to do everything I can to get in touch with him and see what we can do to get them even more excited and ready to do something. This is totally a one of a kind house!

I've got an investor who really wants to do a 'FLIP' with emphasis on a kitchen facelift and a vision for a new look for the house with good bones. I left a message for him with the perfect place and emailed him the info too. I might have to call him again 'cuz the house won't last once a another investor with an eye towards 'work' and flipping sees it.

I'm really interested in a new and exciting communication tool and maybe it will make things easier and more effective and efficient. It's VIDEO EMAIL and blogging- well an entire communication platform. I've got to check that out, complete my research and see when I can get that going. I'm sure there's a learning curve but I can imagine that writing this right now could be done so much quicker and more effectively by just live broadcasting to you and anyone else who wanted to hear. (and I wanted to hear it) Then I could record all these with my face and voice speaking instead of writing and typos and trying the get the right tone and all. UGH.

Call and see what time is good to go and see the place with Matt- that house won't last much longer on the pricing trends.

Call and confirm closing time with buyer, seller, attorneys (2). Don't forget to set up the walkthrough before the closing. It's a 45 minute drive there and back plus 15-20 for the walkthrough.

I'm representing a buyer in the purchase and there are a couple of damaged screens and a broken window seal. The buyer wants them taken care of as a part of the deal. I said I'd take care of it. Now I've got to coordinate the bids for the work and all that. Of course, I won't do that until the deal closes and she owns the place. I guess that can wait until at least tomorrow.

Today is Greg's 11th birthday. I can't believe it. He came bounding into my bed this morning before 6 and said 'I'm 11 years old, I'm 11 years old.'  I think he thought that he was completely changed from yesterday. Of course the day he was born 11 years ago, Memorial Day weekend, I was completely changed. Maybe he will be. I hope not.

Hmmmm. Memorial Day. A friend and fellow Realtor sent me the Lizzie Palmer Video so I've got to make sure any one I know that hasn't seen it yet, gets it and maybe I can send a card from www. letssaythankyou.com.

We've got to get to the cemeteries too and that means we've got to pick out the geraniums, ageratum, and lobelia for Lynn and the cut flowers for Dover NH.

Is everyone happy? Is there anyone else that I missed this morning? I know it's only mid day and I've got hours ahead of me to get so much more done. I love this job. I really do. After 22 years, I guess I better. It's really the people I love- it's such a pleasure.

The busy-ness of a career real estate advisor is so much more than meets the eye. 

I saw the Boston Globe story on Renting versus buying and it was an interesting analysis on the Economist's 'Consumption Smoothing' approach as it relates to costs of owning a home (or renting a place).

Earlier this month, at probably as close to the midpoint of the Spring Real Estate   as possible, and with sluggish home sales in this now obvious Buyer's , this hit the paper. I don't necessarily agree with the premise. Here's the article link. See what you think.

http://www.boston.com/business/globe/articles/2007/04/08/even_in_sky_high_market_buying_beats_renting/

Your lifestyle determines whether owning a home makes sense for you. Long term, I think one could argue that it is cheaper than renting. You own it and not the landlord. You can dig in the dirt you own and even plant things that grow over time to make the place somewhere you like to come home to. You can do whatever you want within the regulations and restrictions of your local town governing agencies.  The bank owns most of your house, so although the initial cash layout is typically more than when you rent in the beginning and each monthly payment can pay down the principle and includes the interest payment for the money you borrowed. Of course, you hope the value increases over time and with a 30 year fixed rate mortgage, your payment remains constant for 30 years. Rent's less predictable. The landlord may want to sell or raise the rent. He may not maintain the grounds, much less the inside of your 'place.' But when it comes to repairs, they are on him, not you and some landlords really do take care of their properties.

Key question to ask yourself- How long do I think I'll be in the house? In the area? If you think your situation might change in a year or two, because of a job move, or an increase (substantial) in family size, I say rent. Don't buy as an 'investment' for the short-term expecting to make money.

If you own a home and need more space or want different space and features, you should consider staying if you really love the house and the location. Investigate adding on, renovating and compare to changing places all together.  I sold a home recently to a buyer client that was sold previously in 2004; my buyers paid LESS today than the home sold for three years ago. And the home had some new and very nice features. That's happening  frequently today. Always consider enjoyment, improvement for your lifestyle needs and RENOVATING to maintain/support your top value when you sell.

So, I actually counsel some friends and clients to rent instead of buy - they'll be happier for the short-term. Others, I have counselled to stay put in their current homes and even recommended renovations for the highest return and reliable contractors to help them with the work.

Sure, I don't get the listings or the sales when they buy, but when they're settled and enjoying, although they may not be moving, they will remember me to their friends who find that now is the RIGHT TIME to buy or sell. (for them)  And when the families decide they are ready to move, they'll call me too and their homes have been lovingly cared for and updated to include many of today's standards and features.

pricing trends Snapshot

North Andover 90 days 4/12/07

Pending/Under Agreement Listings

Sold Listings

 How does this all affect your real estate plans? I'd be happy to sit down with you and discuss your opportunities. Give me a call at 978-470-2048 or email me at homes@SusanSells.com. Sign up for a pricing trends Snapshot of your neighborhood...look for the link in my website, www.SusanSells.com.

Susan

I'm constantly watching the local real estate pricing trends, noting trends and helping my clients strategize for their best opportunities. Here's  an overview of what's happened over the past few months in Andover's real estate market.

pricing trends Snapshot

 Andover Past 90 days 4/10/07

Pending/Under Agreement Listings

Sold Listings

 How does this all affect your real estate plans? I'd be happy to sit down with you and discuss your opportunities. Give me a call at 978-470-2048 or email me at homes@SusanSells.com. Sign up for a pricing trends Snapshot of your neighborhood...look for the link in my website, www.SusanSells.com.

Susan