Thursday, November 11, 2010

Buyers Want Cozy, Connected Kitchens

The kitchen isn't just for cooking. Today it's used as a gathering place for families, a central work space, and an open area to pursue craft projects or entertain. Living room and family room activities are merging into the kitchen, and it's changing how kitchens look. As homes are getting smaller, we're using the kitchen for much more than we have in the past. Home owners want a more versatile floor plan.
The walls in kitchens started coming down in the 1980s and 1990s. First to go were walls separating the kitchen from the dining room and now homeowners are saying goodbye to walls between the kitchen and the living room. Kitchens are also being designed in a less utilitarian way with larger windows, fewer cabinets and softer lighting.

Monday, November 8, 2010

Hawai on the Horizon

I checked the weather report this morning for Honolulu, Hawai. At 1:39 am. the temperature was 76 degree. The high for the day will be 85. Wow that seems a lot like paradise. Around here in Massachusetts, the only time it gets to 76 at 1am is in the middle of an extreme heat wave - in other words almost never. Can't wait to be in Paradise next week.

Last Week Economic Report - mostly positive but a slow recovery

The Institute for Supply Management reported that the monthly composite index of manufacturing activity was 56.9 in October after reaching 54.4 in September. Economists had anticipated a reading of 54.5. A reading above 50 signals expansion. It was the 15th straight month of expansion.

Total construction spending rose 0.5% to $801.7 billion in September, following a revised 0.2% drop in August. Economists had anticipated a drop of 0.5% in September.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending October 29 fell 5%. Refinancing applications decreased 6.4%. Purchase volume rose 1.4%.

Factory orders rose 2.1% in September to a seasonally adjusted $420 billion. The increase follows a 0.5% drop in August. The increase was largely due to a 15.8% rise in demand for commercial aircraft. Excluding the volatile transportation sector, orders rose 0.4%.

The Institute for Supply Management reported that the monthly composite index of non-manufacturing activity rose to 54.3 in October from 53.2 in September. A reading above 50 signals expansion.

The National Association of Realtors reported that its pending home sales index, a forward-looking indicator based on signed contracts, fell 1.8% in September after a revised 4.4% increase in August. On a year-over-year basis, pending sales are down nearly 25%.

Initial claims for unemployment benefits rose by 20,000 to 457,000 for the week ending October 30. Continuing claims for the week ending October 23 fell by 42,000 to 4.34 million, the lowest level since the recovery began. Non-farm payroll employment increased by 151,000 in October, a reading much higher than the 60,000 anticipated.

Upcoming on the economic calendar are reports on wholesale trade on November 9 and consumer sentiment on November 12.

Monday, November 1, 2010

Last Week Economic Report

The Standard & Poor's/Case-Shiller 20-city housing price index — on a seasonally adjusted basis — fell 0.3% in August after a 0.2% decrease in July. On a year-over-year basis, prices rose 1.7% compared with August 2009.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending October 22 rose 3.2%. Refinancing applications increased 3%. Purchase volume rose 3.9%.

Orders for durable goods — items expected to last three or more years — rose 3.3% in September after decreasing a revised 1% in August. Excluding volatile transportation-related goods, orders posted a monthly decrease of 0.8%.

New home sales rose 6.6% in September to a seasonally adjusted annual rate of 307,000 units from a rate of 288,000 units in August. Economists had expected a pace of 300,000 units.

The Commerce Department announced that gross domestic product — the total output of goods and services produced in the U.S. — increased at an annual rate of 2% in the third quarter of 2010.

Initial claims for unemployment benefits fell by 21,000 to 434,000 for the week ending October 23. Continuing claims for the week ending October 16 fell by 122,000 to 4.35 million, the lowest level since the recovery began.

Upcoming on the economic calendar are reports on construction spending on November 1, factory orders on November 3 and pending home sales on November 5.

Saturday, October 16, 2010

Home Are Selling - Believe it or Not

The real estate market is still holding strong since buyers are realizing that there are major opportunities in this market. As for sellers, many of them are pricing aggressively. They know that if they price right, homes are selling quickly. Just to give you a taste of what I mean, these are the numbers of single family homes that sold in the past year: Tewksbury - 195; Lowell - 382; Billerica - 247; Dracut - 220; Chelmsford - 241; Tyngsboro - 72; Westford - 184. Don't let anyone tell you that homes are not selling.

Monday, October 4, 2010

LAST Week in the News

According to the ICSC-Goldman Sachs index, retail sales rose 0.4% for the week ending September 25. On a year-over-year basis, retailers saw sales increase 3.6%, the best reading since early August.

The Standard & Poor's/Case-Shiller 20-city housing price index — on a seasonally adjusted basis — rose 0.6% in July after a 0.3% increase in June. On a year-over-year basis, prices rose 3.2% compared with July 2009.

The consumer confidence index fell to 48.5 in September from a downwardly revised 53.2 in August. The index was benchmarked at 100 in 1985, a year chosen because it was neither a peak nor a trough in consumer confidence.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending September 24 fell 0.8%. Refinancing applications fell 1.6%. Purchase volume increased 2.4%.

The Institute for Supply Management reported that the monthly composite index of manufacturing activity was 54.4 in September after reaching 56.3 in August. Economists had anticipated a reading of 54.5. A reading above 50 signals expansion. It was the 14th straight month of expansion.

Total construction spending rose 0.4% to $811.8 billion in August, following a downwardly revised 1.4% drop in July. Economists had anticipated a drop of 0.4% in August.

The Commerce Department reported that consumer spending rose $41.3 billion or 0.4% in August, matching what economists had anticipated. Personal income increased $59.3 billion or 0.5%.

Initial claims for unemployment benefits fell by 16,000 to 453,000 for the week ending September 25. Continuing claims for the week ending September 18 fell by 83,000 to 4.45 million.

Thursday, September 30, 2010

Little Bee by Chris Cleave

Most good books are good because of the story - it keeps you coming back and wanting more. Many books are good because of the characters - you relate to them or feel for them or admire them. And there are some books - rare books -that are good because of the writing. Little Bee by Chris Cleave is a great book because of the writing, because of the words. As I read the first few chapters, I was compelled to read on and on and on because the words and thoughts flowed like a mighty river on a warm summer day.
The book is about a Nigerian teenager and her sister who converge on a beach with an English couple on a holiday to save their marriage. It is a tragic story. It is funny. It unfolds in pieces. Read it and enjoy.

Monday, September 20, 2010

Last Week in the News

Retail sales rose 0.4% in August after a revised 0.3% increase in July. It was the biggest gain since March. Economists had anticipated retail sales to rise 0.3% in August.

Total business inventories rose 1% in July, following a revised 0.5% increase in June. Total business sales rose 0.7% in July after falling 0.5% in June and 1.2% in May.

The Mortgage Bankers Association said its seasonally adjusted composite index of mortgage applications for the week ending September 10 fell 8.9%. Refinancing applications fell 10.8%. Purchase volume decreased 0.4%.

Industrial production at the nation's factories, mines and utilities rose 0.2% in August, following a downwardly revised 0.6% increase in July. Capacity utilization rose to 74.7% in August after a revised 74.6% in July.

The producer price index, which tracks wholesale price inflation, rose 0.4% in August, following a 0.2% increase in July. Core prices — excluding food and fuel — rose 0.1% after a 0.3% increase in July. For the year, seasonally adjusted wholesale prices are up 3%.

The Reuters/University of Michigan consumer sentiment index for September's preliminary reading fell to 66.6 from 68.9 in August. It was the lowest reading since August 2009.

Initial claims for unemployment benefits fell by 3,000 to 450,000 for the week ending September 11. Continuing claims for the week ending September 4 fell by 84,000 to 4.49 million.

Consumer prices rose a seasonally adjusted 0.3% in August, matching a 0.3% increase in July. For the year, seasonally adjusted consumer prices are up 1.2%.

Monday, September 13, 2010

Attitude

The Longer I live, the more I realize the impact of attitude on life. Attitude, to me, is more important than education, than money, than circumstances, than failures, than successes, than what other people think or say or do. It is more important than appearance, giftedness, or skill. It will make or break a company... a church... a home.

The remarkable thing is we have a choice everyday regarding the attitude we embrace for that day. We cannot change our past... we cannot change the fact that people act in a certain way. We cannot change the inevitable. The only thing we can do is play on the one thing we have, and that is our attitude...

I am convinced that life is 10% of what happens to me and 90% of how I react to it.

And so it is with you... we are in charge of our ATTITUDES.

Thursday, September 9, 2010

Homeowner Oil Heating Upgrade Law

The new Homeowner Oil Heating System Upgrade and Insurance Law, originally set to become law effective July 1, 2010 has been delayed and will become effective September 11, 2011, giving homeowners 15 additional months to comply. The law is designed to eliminate oil leaks that have plagued numerous older homes when a fuel line leaves the oil tank and is buried in concrete. In addition, the new law requires homeowner insurance companies to make available coverage, at an additional charge, for oil spills to all homes that are in compliance with the new rules.

I Really Like This Quote

A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort

Tuesday, August 10, 2010

Steps To Happiness

Everybody Knows,
You can't be all things to all people.
You can't do all things at once.
You can't do all things equally well.
You can't do all things better than everyone else.
Your humanity is showing just like everyone else's.
So,
You have to find out who you are, and be that.
You have to decide what comes first, and do that.
You have to discover your strengths, and use them.
You have to learn not to compete with others, because no one else is in the contest of "being you".
Then,
You will have learned to accept your own uniqueness.
You will have learned to set priorities and make decisions.
You will have learned to live with your limitations.
You will have learned to give yourself the respect that is due.
And you'll be a most vital mortal.
Believe,
That you are a wonderful, unique person.
That you are a once-in all history event.
That it's more than a right, it's your duty, to be who you are.
That life is not a problem to solve, but a gift to cherish.
And you'll be able to stay one up on what used to get you down.

Thursday, August 5, 2010

Vinegar

Here, from vinegartips.com, are a few ideas for making the most of vinegar:

- Clean counter tops and make them smell sweet again with a cloth soaked in undiluted white distilled vinegar.
- Clean the fridge: use a mixture of half water, half vinegar to wipe down the interior shelves and walls.
- Stop ants from congregating by pouring white distilled vinegar on the area.
- Discourage cats from getting into the kids' sandbox with white distilled vinegar.

But I like it best on boiled cabbage!

Saturday, July 31, 2010

Landscaping For Curb Appeal


A well-landscaped yard creates curb appeal and helps your property retain maximum value.


A beautiful yard is a head-turner, no doubt about it. The good news is that even if you can’t tell a tulip from a turnip at the garden center, you can still create eye-catching curb appeal by paying attention to the basics of good landscaping. Ignoring your yard—or doing something that’s out of character with the neighborhood—can jeopardize the assessed value of your home.

“We have several categories for design and appeal,“ says Frank Lucco, a real estate agent and professional appraiser in Houston. “That’s where we make those adjustments. Poorly maintained landscaping can be as much as a 5 or 10% deduction.”

Appraisers are quick to praise the allure of a well-tended lawn and good-looking landscaping when it comes time to sell your home, but most do not assign any specific increase in monetary value for upkeep.

“Landscaping is going to add to the appeal of the property and it may sell quicker, but it’s hard to determine value,” says John Bredemeyer, president of Omaha-based Realcorp. “You have to have a number to compensate someone if you drove into their tree and killed it, but is it really market value? Probably not.”

Nevertheless, most professionals agree that curb appeal and a well-maintained appearance prevent your property from losing value. Here are the top suggestions from real estate agents, appraisers, and landscape designers for boosting the curb appeal of your yard:

Green up the grass

If your house has a front yard, make sure it‘s neat and green. You don’t want bare spots, sprawling weeds, or an untrimmed appearance.

“It’s so simple to go to Home Depot, buy fertilizer, apply it every six weeks, and water it,” says Mitch Kalamian, a landscape designer in Huntinginton Beach, Calif. “It will green up.”

If the yard looks really scruffy, you may decide to invest in some sod. According to the National Gardening Association, the average cost of sod is 15 to 35 cents per sq. ft. If you hire a landscaper to sod your yard for you, labor will add 30% to 50% to the total cost of the project.

Another alternative is to plant low-maintenance turf grasses. Turf grasses are durable and drought-resistant. Expect to pay $18 to $30 for enough turf grass seed to plant 1,000 sq. ft. of lawn area.

Add colorful planting beds

Flower beds add color and help enliven otherwise plain areas, such as along driveways and the edges of walkways. In general, annual flowers are a bit cheaper but must be replaced every year. Perennials cost a bit more but come back annually and usually get larger or spread with each growing season.

If you’re not sure what to plant, inquire at your local garden center. Often, they’ll have a display of bedding plants chosen for their adaptability to your area. Also, they‘ll be inexpensive because they’re in season, says Peter Mezitt, president of Weston Nurseries in Hopkinton, Mass. Try pansies in the summer, and asters and mums in the fall to add vibrant color. “That’s what we do around the entrance to our garden center,” Mezitt says.

Valerie Torelli, a California REALTOR® who dresses up her clients’ yards to sell their houses faster and for more money, says that in her market, she can put in a bed of colorful annuals and bark, as well as cutting down overgrown shrubs, for less than $500. “We can buy gorgeous plants for $3.99 to $15.99,” she says.

Add landscape lighting

For homeowners who have made a sizeable investment in landscaping, it makes sense to think about adding another 10% to 15% to the bill for professional lighting. “You can’t see landscaping after dark,“ says Brandon Stephens, vice president of marketing for a landscape lighting firm in Lubbock, Texas, “and buyers are not always looking at houses on a Saturday afternoon.”

The cost of a system runs from $200 for a DIY installation to more than $4,000 for a professional job. If you‘re doing it on your own, the key is to light what you want people to see, such as mature trees and flowering shrubs.

Plant a tree

The value of mature trees is particularly difficult to determine. Lucco says that in his market, mature trees contribute as much as 10% of a $100,000 property’s overall value. In addition, a properly placed shade tree can shave as much as $32 a year on your energy bills. Expect to pay $50 to $100 for a young, 6- to 7-foot deciduous tree.

You can make your own initial assessment of the value of your property’s trees by visiting the National Tree Benefit Calculator. For example, a mature Southern red oak tree with a diameter of 36 inches in the front yard of a house in Augusta, Ga., would add $70 to the property value this year, according to the calculator.

Georgia-based freelance writer Pat Curry writes extensively about housing and real estate for consumer and trade publications. While a fair hand at remodeling, she is hopeless as a gardener. As a result, her landscaping is made up of plants that thrive on neglect.




Friday, July 30, 2010

7 Tax Benefits For Homeowners

When you’re evaluating how much home you can afford, make sure you factor in the tax advantages of homeownership.


Here are seven tax benefits for homeowners.

1. Homebuyer tax credits

If you purchase your first home before April 30, 2010, you’re entitled to a tax credit of up to $8,000. If you currently own a home, but sell it to purchase another home before April 30, 2010, you’re eligible for a federal tax credit of up to $6,500.

2. Deductions for loan fees

Typically, you can deduct the “prepaid interest” you paid when you got your mortgage loan. That includes points, loan origination fees, and loan discount fees listed on your settlement statement, even if the seller paid those fees for you. Each time you refinance your home, you can deduct prepaid interest fees.

However, you must meet certain requirements to take the prepaid interest deductions when you purchase or refinance your home. Check with your accountant to be sure you’re following the rules.

3. Property tax deductions

In the year you purchase your home, you’re entitled to deduct the real estate taxes you paid at the closing table. You can continue to deduct the property taxes you pay each year.

4. The mortgage interest deduction

Every year, you can deduct the amount of interest and late charges you pay on your mortgage and home equity loans, though there are limitations. If you’re required to purchase private mortgage insurance (PMI) because you made a downpayment of less than 20% on your home, you can also deduct those premiums as mortgage interest expenses.

5. Home office expenses

If you have a home office you use only for business, you may be eligible to deduct the prorated costs of your mortgage, insurance, and other expenses related to that space. The government scrutinizes home-office deductions closely. Be sure you’re entitled to the deductions before claiming them.

6. The costs of selling your home

In the year you sell your home, you can deduct the costs of selling it, including real estate commissions, title insurance, legal fees, advertising, administrative costs, and inspection fees. You can also deduct decorating or repair costs you incur in the 90 days before you sell your home.

7. The gain on your home

If you lived in your home for at least two of the previous five years before you sell it, the government lets you to take up to $250,000 of profit on the sale of your home tax free. That amount is doubled for married couples. This deduction isn’t available on rental or second homes.

The government also allows you to subtract from your home sale profit any amounts you spend on improvements, such as window replacement, siding, or a kitchen remodel. Those deductions are in addition to the tax credits you can receive in 2010 for making energy-saving upgrades. Money invested for routine maintenance and repairs doesn’t count.

This article includes general information about tax laws and consequences, but is not intended to be relied upon as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice; tax laws vary by



Read more: http://buyandsell.houselogic.com/articles/7-homeowner-tax-advantages/#ixzz0vC9ZVTL

Thursday, July 15, 2010

Not Easy To Get A Mortgage

Five years ago, just about anyone could qualify for a home loan. Now, we're at the other extreme.

The loan approval process, which in 2004 or 2005 might have been wrapped up in a day or even within hours, now takes much longer. Federal regulators are demanding that documentation be checked much closer to settlement — the final sales date on the property.

Settlement dates are being delayed by up to two weeks because of the extra hoops that lenders now must jump through. Private lenders are creating their own obstacles, as well. They're waiving fewer credit and payment requirements than they did a few years ago and are continually laying down new tripwires that can foul up a home purchase.

Lenders want to know how much money you have, and where it's been. That is their proper role, which was widely neglected during the boom.

But, at least from the perspective of those who work in real estate, the restrictions have gone beyond proper to the picayune. There are even anecdotal accounts of lenders asking newlyweds who collected cash at their wedding to produce letters from all their guests saying how much each may have contributed.


Monday, July 5, 2010

Sales Down After Tax Credit Expires

The National Association of Realtors reported that its pending home sales index, a forward looking indicator based on signed contracts, fell 30% in May after a revised 6% increase in April. This was expected because the $8,000 federal tax credit expired April 30. Real Estate sales were up in the first quarter of 2010 because so many buyers took advantage of the tax credit.
The market is now at a more normal state.

Sunday, June 20, 2010

A Chapter Gone By

I visited my childhood home in Peabody for the last time the other day. We are selling it next Friday. It brought a tear to my eye. Before leaving I looked in at each room and remembered. The living room was the oddest memory. I remember my older cousin Dickie (he was in his twenties I was about 7) playing with me and my revolutionary toy soldier set that I just received for Christmas. He died this past year. Each room had its memories but mostly I remembered my mom and dad who are no longer with me. I never thought I would miss them so much. A chapter of my life has been written and is now gone. Thankful for memories.

Thursday, June 10, 2010

My Office Is #1

I am a Realtor with RE/MAX Prestige. "RE/MAX Prestige" is the #1 RE/MAX Office in Massachusetts with 200+ top sales associates; We are one of the top 300 most powerful offices in the entire country per the RIS MEDIA Power Broker Annual Report...Up 120 spots from 2009. So...Who is likely to be the next person you know to buy or sell a home? Please call me ASAP or have them call me! Thanks!

Monday, June 7, 2010

This Week Looks Good

Did not sleep enough last night since Celtics/Lakers game kept me up later than normal. But it was worth it since the Celtics won in a very well played exciting game.
This week looks promising. Today I am going to an all day training session in Framingham with Tom Ferry as the main speaker. This evening I'll be getting a nice cape listing in Tewksbury. Tomorrow has 2 closings, if all goes well. Wednesday is golf day and the weather forecast is mostly sunny in the 70s. This weekend Sarah is coming home from LA for a wedding. Nice

Sunday, June 6, 2010

Tewksbury Capes

After doing a market analysis for a cape style home on Boisvert Road in Tewksbury, I found that capes were selling in a very short time. After a little more digging, I found the following - during the past 12 months, cape style homes sold in 66 days on average while all other homes sold in 120 days on average - almost twice as long. But the explanation is simple - capes are much more affordable and therefore open to a larger market. The average sale price of cape style home was $292,000 vs $345,000 for non capes. Very interesting!

Tuesday, June 1, 2010

Realtors Income

A recent survey by the National Association of Realtors found that in 2009 the median gross income for Realtors was $35,700 a 25% decline from 2006. For brokers ( company owners), the decline was 33%

Friday, May 21, 2010

Tyngsboro, Massachusetts Real Estate

There are currently 64 single family homes on the market in Tyngsboro with an average list price of $409, 714 with an average market time of 139 days. The lowest priced home is at $158,000 and the highest is priced at $850,000. The median price is $399,000

During the past 12 months, 75 homes sold (6 per month) with an average sale price of $336,189. The average market time was 154 days. However if the 10 homes that sold in more than 300 days are excluded, the average market time was only 108 days. This is a more useful and revealing statistic. If a home takes more than 300 days to sell, the sellers are not motivated to sell. Of course, many of these sales could have been short sales with delays caused by the seller's lender.

The average list price of the homes that sold was $343,707 which means that on average homes in Tyngsboro have been selling at 98% of their list price ($336,189 divided by $343,707).

18 Homes are currently under agreement with an average market time of 101 days and an average list price of $350,556.

If there are currently 64 homes on the market and an average of 6 homes sell each month, it will take the average home in average condition 10 months to sell. Realtors say that there is 10 months of inventory.

Now lets take a 10 year historical view. In the year 2000, the average sale price in Tyngsboro was $269,000. It reached its high point in 2007 at $425, 000. The average sale price increased by 58%. But with a current average sale price of $336,000, prices have dropped by 21% since 2007. If you owned a home in 2000, you did pretty well overall (25% increase) although you may wish that you sold in 2007.




Thursday, May 20, 2010

Retirement - Wild, Happy and Free

Just started reading a book "How To Retire Wild, Happy and Free." It got me thinking. The main point of the book is that you need to retire sooner than later. You never know how much time you have left.

Although I enjoy my work as a realtor, it has gotten a little tedious especially with the slow down in the market and in my own business. A few rounds of golf each week sure seems like a good life. And a little travel mixed sounds even more enticing.

Tuesday, May 18, 2010

Golf at 92

Played golf Wednesday at Red Tail and shot 92 which is what I predicted as I entered the round. 92 is my average now that I am keeping track of my golf scores. Main problem was that I 3 putted almost very green –would have shot 82 otherwise. But the greens were terrible.

Tuesday, May 4, 2010

Vacation Post

This is our 7th day on vacation at our townhouse in Myrtle Beach (actually Little River), South Carolina. It is raining and I have time to write this blog. Up til today, the weather has been great mostly in the high 70s and low to high 80s. We have golfed every day - 18 holes sometimes 27. My scores have remained the same as always - 90-95. But Malle and Fran have seen great improvement. All and all we just love to be out in the beautiful warm weather.
Went to Bonefish last evening with Jane and Bill and ate delicious Alaskan King Crab which is what we do every time we are down here. Why mess with something so good.
Going home tomorrow - vacations go by too quickly.

Monday, April 26, 2010

Some Good News

New home sales rose 26.9% in March to a seasonally adjusted annual rate of 411,000 units from an upwardly revised rate of 324,000 units in February. Economists had expected a pace of 330,000 units. It was the biggest monthly increase in 47 years.

The index of leading economic indicators — designed to forecast economic activity in the next three to six months — rose 1.4% in March after a revised 0.4% gain in February. It was the 12th straight monthly increase and the fastest pace of growth in 10 months.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications for the week ending April 16 rose 13.6%. Purchase volume increased 10.1%. Refinancing applications jumped 15.8%.

Monday, April 19, 2010

Foreclosure Activity in Massachusetts

Foreclosure activity in Massachusetts rose slightly in February to 4,554 properties with foreclosure filings, up less than 1 percent from the previous month and 55 percent ahead of the level reported in February 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report

Friday, April 16, 2010

Everythings Coming Up Roses

Since my last post, my daughter Liza got her first teaching job in Brooklyn at her favorite school, son Matthew had the best time of his life in Las Vegas (I did not ask too many questions), I sold a condo and a house, Malle and I scheduled our golf vacation in Myrtle Beach.

Friday, April 2, 2010

Blackberry Curve and The Rising Sun

I have had my new Blackberry Curve for almost one week and it is an upgrade from my Treo. Wish I had more time to try all its bells and whistles but I'll learn them over time. The keys are smaller than on the Treo and I thought this might be a problem - but not so.

The real estate market seems hot right now as buyers and sellers try to take advantage of the Federal tax credit but I am a little worried that the market may die after the credit expires at the end of April.

Was great to wake up early this morning and get to see the sun rise in the finally blue sky. The temperature said 38 degrees but it feels like 70

Thursday, March 18, 2010

Mom's Passing

We buried mom yesterday. Made me cry or at least fill with tears. I gave the eulogy which was somewhat humorous but also sad. The priest conclude correctly that she must have been feisty. I will truly miss her. I have been taking care of her for the past 4-5 years taking her to doctors appointments, paying her bills, trying to make her comfortable at our house, making arrangements for her move into assisted living, taking away her car keys. Was not easy to work today.

Friday, March 12, 2010

Lease To Own

Just received a lease purchase offer from a company called Rent2OwnConnect. Have not seen one of these in many years. Never got one to work. Has anyone had a good experience with lease to own?

The offer which was $10,000 below the list price included a $1200 monthly rent, a $2,000 non-refundable deposit and a 30 percent refund of the monthly rent($4320) if the deal does not close

A Medicare Rule

I do not know all of the Medicare rules and regulations. I work in real estate not health care. But this one rule which I just learned about yesterday seems odd. Medicare will cover and pay for skilled nursing care including room and board. Medicare will also pay for Hospice(end of life) care but it excludes paying for room and board. I can only guess that this is the government's way of saving money.

Thursday, March 11, 2010

Tewksbury Home Sales

During the past 12 months, there were 202 single family home sales in Tewksbury, Massachusetts vs 153 sales for the previous 12 month period. While sales were up by almost 25%, the average sale price only went up slightly (about 1%) from $327,279 to $329,471. To me, this shows some weakness in the market. If sales are up by 25%, prices should rise more than 1%. But we all know about the high unemployment rate and the weak consumer confidence level. Nevertheless, I conclude that we are moving in the right direction.
At present, there are 83 single family homes on the market with an average list price of $364,652. Based upon the average of 108 days on the market, it will take 5 months to sell the average home at the average list price.

Wednesday, March 10, 2010

Realty Trac predicts that there will be 4.5 foreclosure filings in 2010. There were 2.8 million in 2009. This will place downward pressure on real estate prices - not good news for sellers. But my guess is that lenders will be so swamped, they will not be able to place the foreclosed homes on the market. They will have to spread them out into 2011.
But whatever happens, it is really a great time to buy - lower prices, very low interest rates (around 5%) and the new federal tax credit.

Tuesday, March 9, 2010

My First Blog

Creating this blog was a lot easier than I thought it would be. Now I have to connect this to my web site which should not be too difficult - just need to contact my web guy Darrin Pinette. But my worry after that is what to write and how often. I should probably schedule some time each week - maybe 3 times per week a half hour each. Seems like a plan. Here's to beginnings!