The Massachusetts Real Estate Guy

Are you on a tight budget? Then check THESE properties out in Worcester for $100,000 and under.

Unbelievable...

Click here and you can see an ever changing daily listing of every single family (and attached single families)  for sale in Worcester priced under $100,000. 

Have you been considering buying in Worcester?  If you've NEVER seen prices this good, and think that eventually, values will go up, add in the beautiful  interest rates, plus the advantages of the Buy Worcester Now program, ask yourself if waiting any longer is even an option anymore. 

You can create any list you want.  Want Multi Families in Worcester under $200,000?  Got it!
How about the town of Clinton for Single Families, all price ranges?  Got that too!  The list is endless!  You can create any list you want.  

To start with your own list, click here.  If you want more detailed information, sign up for the updates and per my website and blog policy, I won't contact you unless you ask me to.

Happy househunting! 

Just released: Cost versus Value Report from 2008 (NAR) and what it means for you...

The National Association of Realtors just released their annual Cost vs. Value Report.  This report basically covers average percentages of what it to generally expect when you spend money on various remodeling projects on your property.  According to this article; 

"NATIONAL ASSOCIATION OF REALTORS® statistics show that home prices have fallen by an average of 7 percent nationally in the past year. But the value of home owners’ investment in remodeling projects has declined only 3.86 percent on average between 2007 and 2008, according to Remodeling’s 2008–2009 Cost vs. Value Report." 

So, here are the national statistics, pulled right from the NAR study;

Remember, folks, these numbers are "national averages"...  and real estate is local. 

It's going down down down but that's all over the country.

Depression is contagious...

Even though the government is making various "valiant" efforts, nationally speaking, the numbers continue to tumble down.

For sellers, that means the only advice I can give you is, market and price ahead of the market to be ahead of the game. 

You're probably NOT going to like this advice.  You might just even write me off as a jerk and call another agent.  That's fine. I'm not in the business of just listing homes; they need to be sold too.

If you price ahead of the market, you should be the most competitive in pricing, and that means the best. That may mean the lowest. 

Do I have your attention?  Good! Now you have their attention too! Who? The buyers! 

We all know "fluff" doesn't work.  "Fluff" to me is driving a potential buyer to the possible brink of insanity with mindless dribble about the features of the property. I've seen some stuff written in the MLSPIN remarks Shakespeare himself couldn't have dreamed up of.

"Verbal vomit" is another description.

I prove it over and over again, year after year after year. When sellers get the upper hand on their agents and tell them how to market and price the property, failure is sure to follow. 

In this market this is akin to "real estate suicide"...

When you price ahead of the market, here are a couple of things that happen...

1.  The buyers waiting "on the fence" (checking out new listings daily), will see your home and actually might take a drive by, or make an appointment.  They won't skip it or miss it.

2.  You may get multiple offers from buyers who may even bid above asking price.  That's a better position to be in than "no offers"...

3.  It may sell quickly, sparing you both any more losses by waiting, not necessarily from the market, but from paying mortgage payments and other expenses on a property you'd rather not sell.

Think about it. This isn't "rocket science."

However, I need to I tell you, real estate IS local ...

The latest articles from the headlines scream stuff like the following;

"The National Association of Realtors said Monday the median price for an existing home tumbled by more than 11 percent to $183,300 in October, the largest year-over-year drop on records going back to 1968, and the lowest median sales price since March 2004."

Source: The Associated Press.

and here is a chart;



Technorati Tags: Seller Advice, Market, Worcester, MA

What? The First Thanksgiving wasn't in Massachusetts?

I always thought Plymouth, MA, was where we had our country's "First Thanksgiving"...

According to this video, I guess there's a debate about this issue, too..

It's hard for me to picture Thanksgiving without imagining Samoset & Squanto, but hey, everyone's entitled to their views, right? 

So enjoy the links and the video, and as for me, I'll believe what I want to believe...

Happy Thanksgiving everyone.. ! 

Search for Homes in Worcester, in Massachusetts. No more registration required.

... and you'll get them all...

I mean, my search system includes EVERYTHING for sale and rent that's inputted in the MLSPIN system.

So, have fun, kick back, look at anything you want.  If you'd like more info, you'll need to sign in, but I promise NOT to call or email you unless you request it.

You'll be able to get the addresses. Practically the whole state is on the search criteria. 

Another Buy Worcester Now Meet the Lender night...

Excerpts from an email I just recieved...

When?  -  Wednesday, December 3^rd from 5—7 p.m. at Worcester Technical High School, One Skyline Drive. Parking available. 

This is an opportunity for prospective homebuyers to learn more about Buy Worcester Now, affordable mortgage products, first- and second-time homebuyer assistance, lead paint assistance, credit counseling, down payment assistance, purchase and rehab loans.

IMPROVE YOUR CREDIT SCORE: Attend this event for a FREE credit report and analysis.

Did you know…

More than 60 homes have closed through the Buy Worcester Now program since July

UMass Memorial Health Care offers up to $10,000 for the purchase of a home on the East Side

First-time homebuyers may be eligible for up to $5,000, if they are employed by Assumption College, WPI, Clark University, or Saint-Gobain Abrasives, Inc.

Attorney fees are waived at time of closing

Mortgage payment protection is available in the case of a temporary layoff or job loss

Purchase and rehabilitation loans are available to assist with the purchase of a home in need of repairs.

Ralph Berthiaume from NEMoves Mortgage can get you ALL the information you need and you don't even have to go to this event!  Contact Ralph here. 

I LOVE SPAM!!

Not the email type, of course.

I'm talking about that wonderful concoction of Ham and Pork !

The economy is bringing out the "thriftiness" in a lot of people, including me.  Although I have eaten SPAM when I was younger, much much much younger, I used to avoid even walking down the SPAM aisle at the supermarket for a long time. Recently, however, I "remembered" how much I used to just love THAT taste, and lo and behold, my feet found a way to start walking down those "sacred" supermarket aisles!

Seriously though, it wasn't as bad as you may think. I did however, used to scrap off that "salty jello-like" stuff that was all covered up around my forthcoming meal.  I just couldn't hack eating THAT stuff, whatever it was, or is... although I've been reading on other blogs it really isn't that bad. Still though, I'd rather scrap.

How do I eat my SPAM?  Well, my mother had a rather ingenious way of cooking. Being a "Greek American" housewife, my mother put her culinary creativity to work and used to slice up SPAM in thin slices, then fry it in Olive Oil along with the Scrambled Eggs she'd fry.  The eggs would cover the SPAM up, sorta like a SPAM french toast with no bread in sight.  Of course, we'd cut bread up in "clusters" using either Greek or Italian bread.  This was a taste I've never experienced anywhere else.  Hmmm. Yum eats!  Seriously!  You oughta try it someday! Just make sure you duck when that Olive Oil starts cooking! Sorta looks like this...

However, I also used to love SPAM with fried eggs ...

SPAM seems to be an international treat!  Hawaiians eat SPAM. The Russians used to eat SPAM during the wars.  Probably still eat it.  It found it's way in Greek - American cuisine, as referenced in the preceding paragraph.  I know SPAM is an international meal;  I've traveled abroad; I've seen SPAM in Mexico, Antigua, Greece, and San Diego.   SPAM IS EVERYWHERE!

My dog LOVES SPAM!  SPAM is truly a "dual function" food; the average price of SPAM  allows for dual Human-Pet consideration.  The high salt content concerns me, however. I'm trying to keep my dog on a "low salt" diet per the vet's instructions...

Tomorrow, er, after my wife leaves for appointments in the morning,  I'm going to try my latest idea; SPAM Gyros!  Y'know, the Gyro's with SPAM instead of lamb!  I'll include the "Sagiki" (yogurt garlic sauce with diced cucumbers and dill) and all the trimmings! Can't wait! 

Hey, mystery meat is mystery meat, right?

So, if YOU have any great SPAM ideas, I'd love to hear about them. Nothing more enjoyable than sharing a couple of tasty recipes among friends and bloggers, right?  You may think I'm kidding, but I'm not.  Aside from the "joking around" I really do love the food!  Comment away!

51% of the foreclosures seem to be concentrated in 4 states

California, Florida, Arizona, and Nevada...

These states were among the highest appreciating states when the boom was in full effect a couple of years, and are now the hardest hit...

As a matter of fact, friends of mine from BOTH California and Florida have told me there are whole sections of certain cities that look like virtual ghost towns.

These states were big with retirees and real estate investors.  Perhaps after the fallout, these states will also recover the fastest.  Who knows?

I haven't got "hard" numbers for Massachusetts yet. Nationally, it doesn't look like a pretty picture, but at least the lenders are starting to cooperate with the borrowers.  Short sales are becoming easier than before, which is like saying "the tooth won't hurt as bad during the NEXT extraction..."..

Still, if you're in a position where you may be entering foreclosure, or know someone who may, don't let the lender get the upper hand.  Consider either a loan modification so you may be able to change the loan and keep the house.  Check out Hopenow. I don't know if I'd advise you to call the lender directly first. They are a "debt collector."  Other real estate blogs from "know it all" agents say you should.  To me, that's akin to walking into a lion's den when they are at their hungriest.  Their job is to get your money. Some of those lender "debt collectors" get commissions when you fork over your money.  They don't care if you can't make your next car payment, your next grocery bill.  I'm not saying don't call them:  I'm saying be careful...

If you can't work out a loan modification program with your lender, with or without Hopenow or whomever, then call me.  I'll prepare a "short sale" package. You won't be able to keep your house, but at least if successful, you won't be another foreclosure statistic.  The idea behind a short sale is to get your lender to accept a lower amount and allow a sale on the property. The lender in essence "forgives" your debt, with the goal being a total forgiveness, and complete.  Sometimes they may try to reserve the right to hold you liable for any balance, but that gets unrealistic and usually doesn't happen. 

Anything is better than a foreclosure. Even a bankruptcy may be better. Just make sure you know all your options. 

If you are reading this from another state other than Massachusetts, go ahead and contact me.  I'll get you an agent in your state and help you out. 

Just don't give up. And don't let the lender get the upper hand. 

Watch this funny clip from "Galaxy Quest" with the famous quote;  "Never Give Up, Never Surrendur!  It's good inspiration!

I'm being copied, imitated, etc, etc, etc...

... even down to seeing one of my local competitors switch to the Typepad blogging platform...

It's subtle, and you really have to look hard, but I am very sure it's happening...

It's laughable, I tell you.  but that's okay... It don't bother me...

It's funny because here I am on a Saturday morning. I finished checking the "expired" listings on the MLSPIN network  (the listings that failed to sell) and the "canceled" listings (the listings that were pulled out, for any various reasons) of the MLSPIN

It intrigues me that Phoenix Arizona seems to be the epicenter of real estate blogging.  Blogging doesn't seem to have caught on here as of yet, but I do see a couple of local bloggers, with different styles.  So I had a couple of minutes to kill, and I check out the local "blogosphere"..

Unless some of the other blogs I see, I try to take a cue from the blogs I see in the West Coast and blog real estate from a "personal" perspective.  I w0n't pay a company or person to blog in my absence, (as opposed to a "contributing" blogger), and I want to mix in different topics. Blogging statistics all day long is fine but I personally can't see myself going that route. 

Of course, I know this is a real estate blog but I also want some of  my personality to come through.

So, I'm not upset when I see imitation.  Who said "imitation is the most sincerest form of flattery?"  I do in fact, feel a bit "flatterized".. Thanks...

But that's okay, it don't bother me... 

If you've noticed, on my posts, if I "pull something, even if the info is NOT original, I try to give credit to wherever I got the info from. That's just me...

I do want to thank all the folks that stop by and read the blog.  I want to remind and stress the idea that I want to make this YOUR resource; please let me know if there is anything you'd like me to blog about.  I could use the help.  I will or I won't give you credit for your ideas; that's for you to decide.

And to my "flatterers".. it's cool, man...

NAR 2008 Profile of Homebuyers & Sellers - Results...

Would you look at this report?

Pretty bleak for the newspapers, I'd say.  Also, VERY BAD for Homes & Land, Catalogue of Homes, The Real Estate Book, and all those other publications that just LOVE to siphon valuable marketing dollars from agents & brokerages not just locally, but pretty much ALL over the country. 

The numbers from NAR  pretty much confirm similar informal studies from Coldwell Banker Residential Brokerage and my own personal observations. A couple of years ago I spent all this crazy money on Catalogue of Homes & the local paper, the Telegram, for 18 months.  When I sat down and look at the numbers, the agents I was working with and myself tabulated over 40 sales, NOT ONE from any publication, including the above mentioned.  It was then that I decided to focus on what REALLY works and stop the insanity of spending money, time, and energy on what doesn't.  I increased my internet coverage substantially since then and minimized or eliminated print ads.  I can also feel a little better about directly doing my part to save a couple of trees and NOT contributing to the waste disposal problems.

So, here is another chart ...

This chart tells me the internet is a time saver the public, whether they be buyers or sellers.  When a buyer prospect gets the information and likes it, they act on it.  Period.  This is NOT rocket science.  They may not of course buy the property, but they at least go see it.  Or drive by.  I suspect when gas prices hit the ceiling they do the virtual tour thing more. 

Only 2% bought directly from sellers?  In spite of the internet,  it can't replace real estate agents, and I really can't visualize myself being replaced by a computer, no matter how hard I try, because I know the work I do.  Now I know some of you out there hate agents, and yes, I do agree, there are some agents you wouldn't want to work with. I probably wouldn't want to work with them myself.  A good chunk of sales 7% may be classidied as For Sale by Owners but in reality are sales between friends and relatives.  This study has that number at 7%. Add that to the 2% and around 9% or so is pretty much what you hear a lot of studies saying is the amount of homes sold by owner.  So, basically, that means that around 90% of the real estate sold nationally is handled by real estate agents - Realtors (R).

Pretty good numbers for us Realtors, wouldn't you say?

So, if an agent's only answer to sell your house is  "I'll advertise it!", look at the charts above.
Draw your own conclusions.  Odds are we'll sell your house, not the magazines and newspapers.