New feature!  Wondering what the housing trends are in our local market?  Introducing my new Housing Trends newsletter.

PAULETTE’S ANDOVER HOUSING TRENDS NEWSLETTER

Price, financial qualifications and time frame are the key considerations when negotiating  a contract to purchase real estate. There are, however,  other considerations which have helped me negotiate great deals for my clients–sometimes, even when my client’s price offer was less than that of a competing buyer’s offer!  And, yes, these are lessons I learned long ago in kindergarten!

1. Show up to appointments on time, stay as long as you need to fully tour the home, but don’t linger for long conversations which are better suited for your real estate agent’s conference room.  Schedule a second showing if you are truly interested in the home and would like more time to inspect the property.

2. Be  respectful of  the seller’s home. Wipe your feet or remove your shoes in extremely bad weather, shut off lights and secure the doors when leaving, don’t allow children to handle personal belongings or play with children’s toys.

3. Prepare your offer based on comparable sales.  An offer that is far below market value will not only set an uncomfortable tone with the seller, but  may also result in your offer being rejected outright.  A reasonable offer, even if it is below the seller’s expectations, will set the stage for successful negotiations.

4. Consider the condition of the home when you prepare your offer.  You will have a thorough home inspection and, yes, it’s reasonable to ask for concessions for unforeseen repairs, however, don’t use the home inspection to renegotiate the price the for repair issues which were obvious when you first toured the home.

5. Respect deadlines, respond to questions quickly and make decisions as quickly as is prudently possible.

Time and time again, this simple and sound common sense approach has helped me negotiate great deals for my home buyer clients.

Some interesting facts we don’t often read or hear about in the daily news… and some reasons to feel good about our homes!

Current national trends in housing

70 % of Americans continue to view owning a home as part of the American dream¹

62% of consumers feel tht buying a home in the current market is a good investment over the next 10 years²

75%  of homeowners state that their home defines their identity⁵

64% of all buyers are married couples, 18% are single women, 10% are single men and 7 % are unmarried couples³

Buyers searched for an median of 12 weeks and visited 12 homes before they found the one they purchased³

35% of the homes were on the market less than 2 months before they sold⁴

39% of sellers did not reduce the asking price, 26% of sellers reduced it once and 35% reduced the price two or more times³

Homes are selling and the spring market in the Andover area is in high gear! Curious about the state of the market in the Andover area, see what’s selling in your neighborhood!

Sources:

1 Wall Street Journal, October 4, 2011

2 Bank of America: Mortgage Index Study, December 8,2011

3 National Association of Realtors Profile of Home Buyers and Sellers 2011

4  National Association of Realtors

5 Move, Inc

Communication is essential to the success of almost every human endeavor. This is especially true when buying or selling a home. Moving is complicated. Consider this partial checklist of many details which must be completed:

• showing appointments
• appraisals
• mortgage applications
• inspections
• repairs
• title work
• insurance
• certificates of compliance
• utility transfers
• taxes
• earnest money accounting

With so many timelines to be met, so much documentation to be completed and so many parties involved, it’s critical that your real estate agent keeps you informed and on task every step of the way.  Make sure your real estate agent is accessible and communicates with you regularly…sometimes daily… throughout your real estate process.

Just listed!  42 Lacy St. offered at $459,900, picture perfect home for sale in North Andover.   Discover paradise  in your own backyard!  Set on a stunning acre lot on a small pond is this beautifully maintained home. Cherry cabinets, hardwood floors, 4 bedrooms and 3 full baths and a picture perfect sunroom offer both style and substance to this very special home. Offered at $459,900 this home is sure to please.  See more details and photos or contact me for a private showing.  See all homes for sale in the Andover area.

Let’s take a look at the sales data for single family home sales in Andover and North Andover.

Want to know what’s happening in YOUR NEIGHBORHOOD?

If you’ve ever thought about investing in real estate take a look at this short video. I’m excited about my enhanced training in real estate investment opportunities and am now a certified investor agent specialist. Contact me at RE/MAX Partners in Andover to learn how you can build wealth by investing in real estate.

The holidays remind us of why our homes are so important to us.  It would be difficult to list all the  holiday songs, cards and movies which  have been written about this theme.  As we decorate our homes and  prepare favorite family recipes, our thoughts are filled with childhood memories of favorite places and family gatherings.  Those favorite places are our homes and the homes of our parents, grandparents, aunts, uncles and friends and we continue the  tradition by welcoming new friends and families into our own homes.   I’m thankful for the work that I do.  Everyday I’m honored to help people find their own special place to call home.  This time of year especially, I receive cards and photos from clients who are celebrating Christmas in their homes, welcoming new babies, taking new family portraits or enjoying retirement or starting a new journey in a new place.  Our homes are important to us.  I value the trust my clients put in me and sincerely appreciate the opportunity to be of service.  May your homes be filled with health and happiness this holiday season.  I look forward to a new year full of more new beginnings.

Every profession has it’s own alphabet soup of degrees and designations.  Some are very familiar to us such as  MD., PhD., RN., and DDS.  While some are specific to a particular profession such as medicine, others apply across fields  of study such as a Bachelor’s Degree or Master’s Degree.  What they all have in common, however, is that these degrees and designations identify a level of training or proficiency in a particular field of study.

The same is true in the real estate industry.  Real estate agents are required to have a license and a minimum level of training.  Some of us, however, pursue advanced levels of training and expertise.

When  you see that an agent has multiple letters or designations on her business card or website you can rest assured that your  agent will be among the most highly trained professionals in the industry. It shows you that your agent has pursued advanced training in areas such as finance, marketing and technology so you can be confident that your agent has the dedication, experience and commitment to excellence that you need to guide you through the real estate process.

When chosing a real estate agent to represent you  when buying or selling a home, doesn’t it make sense to chose a agent who demonstrates a high standard of expertise? Here are  the designations and advance training I’ve acheived so far, but stay tuned… I’m working on a new one!

I played golf this Saturday.  Yes, it was a little chilly, especially in the morning.  As I put on my winter golf gloves and set up for my first drive of the round, it occurred to me that playing golf in November in Andover  is somewhat like buying or selling a home in Andover this time of the year.  Golfers who brave the autumn winds and chill to play truly love the game.  Similarly, homeowners who list their homes for sale and  home buyers who are actively searching for homes in the fall and winter, are truly committed to the process.  So yes, now can be a good time to be an active home buyer or home seller and here are 6 reasons why this is true.

1. Sellers, we know buyers must feel at comfortable in a home before writing an offer.  What is more comfortable than a warm, festive home dressed up for the holidays?
2. Buyers, sellers who takes the time and effort to keep their homes tidy and welcoming for you, especially during the busy holiday season, have a sincere desire to sell the their home.  They may therefore be more willing to negotiate the various terms of the purchase contract.
3. Less competition–yes, throughout the year home buyers and home sellers are in competition for one and other.  While there may be fewer home buyers actively searching for homes and fewer homes listed for sale, when the right home comes along buyers will have fewer competing buyers to outbid, and when the right buyer comes along sellers will have fewer listings to outshine.
4. The “off season” makes it easier to schedule related services such as appraisals, movers, attorneys and contractors.
5. Corporate moves.  Corporations make more employee transfers in January than any other time of the year so this is an opportunity to tap into the relocation market.
6. Interest rates, interest rates, interest rates.  You’ve heard this before…interest rates at historic lows and home prices leveling off.  Buyers and sellers can both take advantage of this incredible opportunity.

Search for your new home.