Monthly Archives: January 2007

Sellers Testing the Waters… NOT!

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It seems to us that there are many sellers out there just testing the water to see if they can sell their house at a price they want. This is not a market where that tactic will work AT ALL… the inventory of houses for sale is just plain too competitive, and many houses on the market are there because the owner NEEDS TO SELL… If you are not one of these, then don’t put your house on the market… it will have a negative impact on your price, and it will adversely affect the market by having more houses on the market for longer periods of time, which drives prices down.

We see that many sellers feel that the market is still strong and can support a price appreciation from the time they purchased their home a year ago… this is simply not true… the market is sluggish at best, depreciating at worst, and stuck in rut everywhere in between. Even foreclosure owners feel that they can somehow make profit on a house that was purchased at the peak of the market with 100% financing…

Get a grip!

Sometimes, a motivated seller should consider when to cut and run rather than sustain further losses, and not sit waiting to gain a profit that simply does not exist at this time. Reality check…

And sites like the big Z, which have inaccurate price guidelines at their best, are not a valid way to price your house. The data just does not support it. Last year, houses remained on the market for an average of 35 days… since the 2006 Summer, the Days On Market have increased, on average, to 140… big difference… and inventories have climbed accordingly.

Try reading through our Sellers sections for RI Home Sellers or MA Home Sellers for some tips on how to approach this market. Once you have surveyed the information there, let us know what you think.

Warning! Crazy People Out There Warning!

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Consumers and Realtors be on Alert… not every one seems to have had a nice holiday, and there are predators out there… please take this seriously, your safety is at stake…

You can never be too safe, and with crazy people out there, it pays ever more to be careful… here is the content of an email that just came through from the Rhode Island Association of Realtors… Please pay attention, and call the police if you encounter this guy… of course, his clothing may have changed by now… 

Let us know how some of you would handle this challenge. 

Dear REALTOR:

Please be on the lookout for the following person and do not hesitate to contact the police immediately if he enters your office.

We have received reports from the Kent Washington Association of REALTORS and REALTOR offices about a suspicious man, who identified himself as “Gary” and is driving a dark colored Honda or Toyota with Maryland license plates.   He has visited at least several offices in South County today and insisted on viewing luxury homes immediately.  He claimed to work for the CIA and made personal comments to female agents and employees, asked them whether they were married, physically touched them, and stormed out of the office when they would not leave immediately to view properties with them.  The police are looking for him to serve him with “no contact” orders.  He has been ejected from at least two restaurants today.

Here is a description:

- He may use an alias – his name is Gary.

- White, age 56.

- Lt brown hair, slightly receding hairline.

- 5’8”, wearing a black leather jacket with a stained gray T shirt that says “V.T.”

- Has glasses, does not always wear them.

- He’s driving a dark colored Honda or Toyota with Maryland license plates.

Please be careful!

Home Buyer Profiles

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Welcome back from Holiday! We hope all of you had as wonderful a New Year as we did! Good food, good friends, good times. We also hope that your New Year brings you health and prosperity. Speaking of which…

It seems 21% of home buyers in 2005 were single women, according to NAR. That is a heck of a lot of single women, and greatly out numbers the single men purchasing houses by a factor of two!  Lisa Scwarzbaum, Entertainment Weekly Critic, tells us all the reasons why she was unable to make the move to homeownership. Some of her reasons, while sounding comical are also very valid. And some Karen Hurst, a Realtor in our area, added some responses.

  1.  Who needs the aggravation of upkeeep?
  2.  In a rental apartment you can feel secure
  3.  Should’t you be Hoarding your savings
  4.  What if I meet a man and he doesn’t like my house?
  5.  What if I become too lonely?
  6.  Or too self sufficient?
  7.  My favorite, What if a tree falls on the house and there is no one around to hear?
  8.  What if people see me differently and not as “female” if I own a home?
  9.  How will I do everything, fix things, mow lawns, paint 

Single women have evolved to such an extent, yet there are still those that are held back by feeling they just can’t do it.

Here are some reasons why you can:

  1. You probably have a certain amount of upkeep where you are anyway
  2. You are no more secure in a rental than in your own home
  3. Put your savings (not all) into an equity producing machine
  4. Need I answer that one?
  5. You will be lonely in an apartment also.
  6. Great! You can never be too self sufficient!
  7. Even if someone hears it, would it make any difference?
  8. Who are these people?
  9. You will learn and enjoy the learning

Let us know why you think you cant buy a house, and we will post why we think you can.

Happy New Year! Welcome to the home buyers year!

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Happy New Year everyone…

We want to welcome all Rhode Island and Southeastern Massachusetts home buyers to the best opportunity in many years: a buyers market with still low interest rates! We believe that this year will prove one of the best in many to buy real estate in New England. Why? Because the market has cooled somewhat, inventories of homes for sale are up, and interest rates remain at near all time lows. Prices of homes in the Southeastern New England market are flat, or dropping.

So, if you are a home buyer, congratulations on entering one of the best markets in years for buying your new home!

Our experienced agents see sellers becoming motivated, and have been showing property to buyers throughout the end quarter of 2006. Sellers are more flexible, and lenders are still offering low rates.

Good luck in the coming year!