Real Estate Deals
The Way We Were
Truth is, I started this blog when there was not a snowflake to be seen. And I, for one, was feeling a bit nostalgic for a winter landscape. Last year, Massachusetts had a snow bonanza! Virtually flake-less this season, some of us were looking back at previous winters with more than a little nostalgia. A light blanket of snow to cover the gray-brown surfaces and barren trees would resonate with our usual winter expecations. And for those of us accustomed to the four seasons, the December warmth (January’s too), the snowless landscape was, well, kind of wierd. Well, it’s happened. Just enough and I’m cured!
Those of us still looking back to the high-flying days in real estate when many towns and cities in our state saw nothing but double-digit appreciation with no end in sight, when you listed your property and “they came”, when your home was better than your stock portfolio and you could use it to fund your retirement–well, as we all know, those days are over. It’s going to snow hard again. It has already started. But those good ole days in real estate are probably never to return. And we need to be cured of expectations that don’t lead to profitable decision-making.
Massachusetts Real Estate–The Good News Is…
Some categories of real estate have adjusted enough so that profits can be made. For developers, multi-families in an increasing number of cases are low enough now that the cost of acquiring them, fixing them up and selling the renovated spaces does, in fact, yield a profit. Good news. Many sellers are factoring in market realities and pricing their properties so that the time on market is reduced and multi-bid scenarios are encouraged. More good news. And what can you say about mortgage rates! Unprecedented. Fixed rates around 4%. How long do you really think that’s going to last? One year? Two? Five? I bought a house in Brookline in 1985 and the mortgage rate was 12%. And that was good, considering they had been in the 17%-18% range only a few years earlier. So these are incredibly awesome times for financing a home.
Still Looking for a Deal?
Here’s a deal for buyers. Real estate companies thrive on referrals. Referrals are, simply put, the heart of the business. I’m pleased to offer $500 to anyone who refers a buyer or seller to RG-Homes–when the deal closes. And this is a deal with no expiration date.
And for sellers… did you know that all real estate commissions are not the same? It’s against the law for members of any industry to agree on a set fee. And this applies to the real estate industry as well. So when interviewing prospective companies for selling your property make sure you understand that commissions are negotiable. Our fees at RG-Homes are not set by any corporate entity. Talk to us. We offer innovative, sound marketing strategies for selling your home. Talk to us about our commission fees, our plan for your sale.
Tags: Real estate deals
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