Buying Real Estate for the Long-Term

It’s pretty much understood that we won’t see the kinds of appreciation in property values that we’ve seen in the last decade. Not any time soon. So using the equity in your home to buy up–take the profits and move to “bigger and better”– is a thing of the past for many homeowners. New homes are trending smaller as homeowners and buyers scale down their wants/needs in challenging economic times. So maybe it’s time for many buyers to think about buying for the longer term. (Of course, I’m not talking about first-time buyers here who may not be at a life or employment or financial moment to think like this).

Home Design Focused on Aging In Place

Any home can be viewed in terms of it’s utility for people across the life cycle. Buying a home that has features that make it attractive and useful for “aging in place” or renovating an existing space to accommodate the needs of individuals, couples and families over time–this is a trend that has legs.

Universal Home Design

Universal design is not about grab bars and wheelchair accessibility.  Not at all.  Not any more.  Home design is about considering all of the kinds of lifestyle options that any individual or family will potentially address over the course of their home ownership. Alterations need no longer resemble a hospital room.  On the contrary. Here’s a bathroom design that has everything these owners will require to “age in place”, yet it has a design aesthetic that is truly timeless.  The key is to create normal-looking spaces–as comfortable for a parent carrying a child on his/her hip as for an older person requiring safe surfaces, level entryways and functional work spaces.  In this kitchen, all family members can be accommodated in a warm and welcoming space.

Creative Approaches for Buying, Selling or Designing your Home

When you combine this kind of thinking with green principles and sustainable design–you have a property that will be appealing to a wider pool of home buyers and that will create value in the bargain. It’s a good strategy when you’re looking for a home or when you begin to consider renovation. In these times a creative approach to home ownership is vital. Contact us for an introduction to our innovative services as you buy, sell,  or design your next home.

Two more T stops and you’re at Fenway Park!

Brookine prices stay strong

Property prices are high, relative to other towns and cities.  But the current economic downturn has impacted Brookline less than other places and as in previous down markets, Brookline recovers faster than other places.  The national real estate statistics do not apply here. Indeed, the gloomy statistics for other counties in Massachusetts do not apply here.

Brookline MA Living

The Town’s proximity to Boston, a school system with a strong reputation, good Town services, wonderful restaurants, vibrant commercial “squares” throughout the Town, an active citizenry represented at a Town meeting form of government, (see an example of  the community’s policy interests), an eclectic array of Brookline properties and the T–all of these elements help make Brookline a very desirable place to live. It’s no surprise then, that Brookline is listed as one of the top communities in Massachusetts.

We’ve all been advised that it’s always a good idea to be the least expensive house on the street because the more expensive properties positively impact your own home valuation and there’s tyically plenty of room to improve your property without pricing yourself out of the neighborhood market.  Expanding on that, it’s a very good idea to own propety in a town that can weather what has arguably been one of the most serious housing crises in recent memory–a town in which depreciation remains low and where recovery is quick.  Under present economic conditions, Brookline can really be like money in the bank. In fact a recent survey showed that people believe home ownership in general is like money in your 401K.  Nowhere is this truer than in Brookline.

Check out Affordable Brookline condos at RG-Homes.com.  For many, this is the way to get a toe-hold in this extraordinary Town.  Begin to enjoy the  features that attract so many people to this wonderful comunity. And we can can help you nail down the just the right home.

How did TLC get to mean everything from “could use a coat of paint” to “probably a tear-down”

This is not a fixer-upper!  This is a ruin!

How to Attract the Wrong Buyers!

I’m a Realtor® with over 20 years of experience in all kinds of markets and it never ceases to amaze me that some agents think it’s helpful to exaggerate or understate or otherwise mislead potential clients. Who does this help?  It’s not creative marketing. It’s either a way to persuade the seller that you are skilled in writing real estate copy so as to disguise the flaws in the house. Or it’s a way to attract a set of  buyers who will invariably be disappointed when they view the real house.

How to Attract Serious Buyers!

A lot of real estate agents fail to mention important elements, take photos that obscure real issues or use wide-angle lenses that wildly distort the actual space.  I recently saw an MLS  listing that strategically photographed the “kitchen”. There really was no functioning kitchen.  Two major appliances were not working and to this agent’s credit she did disclose that.  But by selectively shooting the scene, buyers came in unaware that an entire kitchen rehab was necessary. This is not helpful to the seller because the buyers who view the home are not necessarily interested in or able to undertake a whole new kitchen.  It is clearly better that the photos, the text and, let’s be real, the price reflect the actual condition. That way buyers, real buyers, come to the property. What works for the seller is an honest, reality-based and effective marketing plan that brings in buyers who know what to expect from the outset.

To be sure, it’s sometimes hard to come up with language that honestly reflects a home.  I almost dismiss (and you probably do too) any home that is described as “lovely”or “charming”. Essentially cliches, the words are meaningless. I need more. And grandiose language–e.g. “gorgeous”, “fantastic”–always makes me suspicious.  Let’s just tell it like it is. And in difficult economic times with competitive real estate markets, isn’t it better to position your home with accurate content.  Accurate doesn’t mean dull.  Accurate doesn’t mean devoid of words that have impact.  It means giving a true accounting of the property.

Check out  this house to see how property descriptions don’t necessarily tell the whole story. You may not agree with the conclusions; your taste might differ. But, as suggested, avoiding that deadly combination of questionable description and price, is the way to sell your house.  We welcome your questions. Contact us at www.rg-homes.com. We’re going to give you the real deal!

Practical, profitable home improvements

You may want a sauna in your basement and, if you have money to burn, go for it.  But it’s not the type home improvement that often appears on home buyers’ wishlists.  Again, you may have a dream kitchen you’re dying to install, but if you are not sure, really sure, that you will be in your home for a long time, restraint might be in order. Better stick to the kinds of home renovation projects that really make money sense.

Check a recent article that highlights sensible remodeling projects.  This pretty much reflects which kinds of alterations will give you the most bang for your buck. Not mentioned in the article, but also a very good project–adding central air conditioning will also deliver a reasonable return on your investment–in addition to improving your quality of life in the meantime. Which brings me to another point….

Remodel and enjoy your home now!

Too many people wait until they’re ready to sell before they do the kitchen or the bathroom or the deck.  We’ve all seen the homeowners on HGTV’s real estate/design programs who fix up the house to make it more sale-able, only to discover that they regret not having done the work sooner…when they could have enjoyed it.

These are difficult times to be sure, and all the trade journals tell us that homeowners are scaling down their projects to reflect the leaner, more uncertain economic environment.  But, carefullly planned and budgeted home renovations can give you much needed extra space, much needed present time enjoyment as well as the future returns that every home improvement should factor in.  The basement shown at does just that.  It offers practical, real-time, new living space.  And it will deliver a nice return when the homeowner sells.

The interface between real estate and and renovation/design is our special expertise.  You can see the ways in which our portfolio of services can work for you at http://www.rg-homes.com/design-and-renovation-portfolio/.

Making an Offer on a Home

You’ve found the place you want to buy.  Now you want to make an offer. What’s involved in this part of the home buying process?

All you have to do is google “making an offer on a home” and you’ll get a ton of very useful information on what the steps are and what you should be thinking about.  And a couple of good sources for this type of information are: realtor.com/Basics/Buy/Choose Offer/Make Offer.asp and http://mortgage-x.com/library/offer.htm.

At these kinds of sites, you’ll learn about :

–what goes into an offer

–how much money accompanies the offer

–terms (price, closing date, money due at purchase and sale) that go into the offer and that they are all negotiable

–contingencies (financing, inspection) that the sale is subject to

–counteroffers

And more. The mechanics essentially.

If you’re working with a buyer’s agent–and you should be–he/she can potentially provide you information about the mechanics and more.  The seller’s background (is there a divorce that’s prompting the sale?), whether there is a mortgage and for how much, whether it’s an estate sale and who the trustees are and how many–all of these can be important factors to consider when you decide on what to offer.

What you won’t find at these sites, however, is how you, as an individual or couple, deal with the negotiating process and with the prospect of making a very large investment of money.

Home Buying Negotiations

I have seen negotiating an offer go wildly off kilter because a buyer, in pursuit of ” a deal”, is more interested in besting the seller than acquiring the property at the right price.  As a buyer’s agent in this instance, I provided comparable sales data, as much information about the seller as was available, and years of negotiating experience. But, the buyer was more concerned with negotiating the deal as his father would have.  True story.  And it wasn’t a pretty picture.  Needless to say, the offer didn’t fly.  We never came to terms with the seller because the buyer really had another agenda.

I’ve seen both sellers and buyers imagine the personalities of the other based on the offer, counteroffer, etc.  It’s very hard not to.  Because you don’t really know the other party in the negotiation, it’s common to project attributes and attitudes–he or she is insulting with a low-ball offer, they’re trying to bottom-feed, they’re cheap or offensive in some other way.  I’ve heard it all.  This is a process where there are many unknowns and elements that require trust on many levels.  You have to trust that your agent conveys your intentions accurately and honestly through another agent whom you may or may not know to a seller you don’t know either.  It’s understandable to try and fill in the unknowns and control the process to some extent. Beware, however, that your content, your imagination, your projections don’t end up preventing reasonable movement to a satisfactory conclusion–an accepted offer that makes sense in both market and personal terms. Don’t get in your own way!

Things can get even more complicated when couples are not on the same page.  There can be, and often are, different attitudes about money, about “home”, about winning and deal-making. I’m not suggesting you go into therapy to uncover your deep-seated feelings about spending money and buying a house.  But, what I am pointing out is that you, like everyone, have a history that includes messages about money.  Without your really knowing it, your financial behaviors are influenced  by these messages and can either enable or impede your moving toward your goal–buying a house.

Buyer’s Agent

A buyer’s agent’s only fiduciary obligation is to you and, in a negotiating scenario, their job is to help you get your home at the lowest possible price. In an ideal world, all the participants in the buying process are just as clear about the process and their roles in it. Contact RG-Homes about buying your next Boston Metrowest home.

IT'S NOT ABOUT HOW SMALL SOMETHING IS THAT COUNTS. IT'S WHAT IT'S WORTH!

Two interesting responses to the new RG Homes website.  One friend who previewed it said that it looked like a one-person operation. True enough. So what’s wrong with that? Another friend underscored that it was exactly that feature of this company that I and my clientele always valued. We understood it to be so vital in providing first-class service.

I always liked being an entrepreneur.  Character trait, I guess. I feel committed to carefully managing the various aspects of my real estate business. I’m not interested in meeting sales quotas or selling for the market enhancement of a corporation.  I have always seen this as an entirely personal undertaking and my gratifcation comes from finding the right real estate solution for my clientele–buyers or sellers.  I’m not going to forget who the attorneys are in a given transaction or when my client’s moving van will show up, or how to ensure that a seller goes to the closing table will all details buttoned up. There’s nothing worse than leaving money in escrow because some detail was overlooked.

Honestly Listening Finds a Home the First Time

It’s a cliche to say that I listen carefully to what buyers are looking for.  Everyone says that. My last blog was, in fact, exactly about seriously listening.  But if you really listen and look, you can be on target in identifying your client’s needs. I’ve always try to visit my client’s existing home.  I learn a lot from what I see; I note details that others might miss. With the eye of a designer (see home design services for more
information on this component of the business), I can pretty accurately figure out what won’t work and what will for a given home buyer. I once had a client who
didn’t expect to find the right thing on the first day. When we did–so excited/anxious was she– she threw up!  Clearly, the goal is not to make the client throw up and,
happily, this only happened once.  But if you take the time, you really do provide the highest possible service.  And staying small allows this.

Small is Rewarding

I’m not naive.  I know that glossy brochures and grand newspaper advertisements are pretty seductive to many buyers and sellers.  I also know that much of that is advertising for the company and not for the client.  Your choice. Feel free to shoot me an email or call me at 617=763-4902.  We can to have a preliminary conversation about how my staying small can reap you big dividends.

Mine or yours.

I’ve been doing this long enough that I know how to work smart. And that ends up helping you to get what you want. I won’t waste your time sending you listings that don’t meet the criteria you have identified. If you don’t hear from me, it’s not because I forgot about you. I don’t neglect my clients. It’s because there is nothing to tell you about.

When I first started selling real estate, experienced agents told me that “buyers are liars”. They may tell you they want a colonial, but they end up buying a ranch. So they said.

I don’t know about other agents, but I have never found my clientele to be so easily moved to change strong preferences. I assume a discerning intelligence. I respect what you tell me. Access to my MLS quicksearch feature allows you to thoroughly review any number of options–types of properties, neighborhoods, communities. Do your research and shoot me an email with questions, concerns. We’ll fine-tune your criteria and set up appointments.

If you’re thinking about selling, I will do my research and give you an honest opinion of value. I’m not interested in listing your home; I’m interested in selling it! (see marketing your home for more). I’m acutely aware of how anxiety often accompanies the selling process. I’ve been in your shoes. Pie-in-the-sky notions of listing prices, what your neighbor got, how things used to be–these considerations should have no bearing on how we price your home now. Understanding market realities and using an intelligent and innovative marketing plan will go a long way to getting you to your goal.   I’m tireless and creative and I don’t take your confidence in me for granted–one of the benefits of running a small shop.  (More on this another time). Contact me or call 617.763.4902 for more details on buying or selling Boston area real estate.

I won’t show you this…..

….if you tell me you’re looking for this.

The great thing about the Boston area is that you can get to farms and orchards and surf without driving too far from the city.

When I decided to move out of Brookline/Boston on a quest for more space at an affordable price, friends and family thought I was demented. How could a former New York City girl, a Brookline and Boston resident for many years, contemplate the suburbs.?! Not just the suburbs, but a location on the edge of rural Massachusetts!

Every real estate decision involves trade-offs. If you can fulfill your entire wish-list, you are a rare buyer. I wanted more space—for a design studio, for guests and grandchildren, for gardening. Knowing and loving Brookline and the western suburbs close to Boston—this wasn’t an easy decision. But the appeal of space (inside and out) and an extraordinary, raw basement area ripe for renovation, was too hard to resist. (Click here to view renovated basement space).

It was an adjustment. No question about it. For one thing, I was driving more. In an era of diminishing energy resources, I was very aware of my increased gasoline consumption. Not ideal. A great deal of my business life is in Brookline, Boston, Cambridge and Newton, so I would be driving to meet clients, present offers, deliver documents. My network, both professional and personal, was a distance from my home. Again, not ideal. But, then again…

The sweep of the western sky is beautiful from my deck. I have watched the corn grow from tiny plants at a farm a mile down the road. The spring was stunning. And negotiating the tasks of daily life—grocery shopping, doing the banking, going to the post office—is easier in the small town of Hudson. My town.

It’s interesting to note that the concepts of “smart growth” and the creation of walkable towns and cities are giving way to new ideas about cities in the global economy. Will increasing gasoline taxes encourage people to drive less, leave the suburbs and move into cities?  Or will the genuine attractions of non-city living and the realities of jobs and salaries keep suburban living vibrant . James S. Russell in his new book, The Agile City, uses the term, “megaburbs” to describe a new version of the city, an area that combines the attributes of city and suburban living.

I live and work in a “megaburb”—the Greater Boston area. It’s all good. It’s about meeting your needs, that complex combination of money and value and comfort. Let’s talk about your unique real estate needs. Like me, you will find there are many ways to get from here to there. Please contact Roz or call 617.763.4902 to talk about Greater Boston area real estate and your unique needs.

NEW KITCHEN: DOES YOUR ASSESSMENT FACTOR IT IN?

We are living in interesting times especially in regards to marketing your home.  And property valuation—how do you know what to price a home, how do you know what to pay—is another of those interesting realities that deserves a good look. Even sophisticated sellers and buyers are bewildered by the relationship between assessed value and fair market value.  Many colleagues have shared anecdotes indicating that buyers expect to pay the assessed value.  But is the assessed value the same as fair market value?

Important facts as you get ready to buy or sell your home.

Towns and cities in Massachusetts are charged with determining the value of all taxable land and the improvements to it. Revaluations must take place every three years, though some towns and cities re-assess in two-year intervals.  The last revaluation doesn’t necessarily reflect what the present market value really is.

Every parcel of property must receive a physical visit—be viewed in person—every six years.  And this is done on a rolling basis.  If the property has not been viewed, assumptions are made—assumptions that could affect the assessed valuation.

When assessors assign value, they will be using an antiquated Department of Revenue system.  They will be using comparable sales that could be as old as 12-18 months.  Appraisers will use comparable sales that are 6 months old; realtors will give an opinion of value based on more recent comparables as well.

Looking At Real Market Value

And what that means is that the assessed value has to be looked at very carefully before you put your property on the market or before you buy.  What is unique about the property?  Has it been upgraded? How does it show?  What does recent sales data tell us?  Remember, the market is organic and change happens within and around the 3-year requirement for revaluation, the 6-year requirement for a physical visit and the 12-18 month window of past sales.

When you look at assessed value….all of this has to be factored in.  Even in a depreciating, slow or stable market, does assessed value really tell us everything we need to know about pricing?  About fair market value?  Let real estate professional guide and advise you.  Or you could lose money.  Or pay too much. Contact Roz at RG-Homes or call 617.763.4902 for more information on how to get the best value for your home.