All Forum Posts by: Kimberly S.

There was a good article today in US News by Meg Handley which spoke to possible change in where people are looking to buy real estate, suggesting that folks are looking to live closer to urban areas with the intention of reducing commuting costs etc... The article also spoke about people looking for [LINK REMOVED] may be looking for smaller more efficient houses, a change which we have noticed in our office (NY Metro). I think a lot of this is common sense and just being practical, maybe an idea or change who's time has finally come. We are certainly living differently than the previous generation. We own larger houses which are more expensive to maintain and commute further (in yet worse traffic). Such a shift makes sense to me and I would more surprised if it did not happen, than if it did,

Best of luck with new development. We are seeing some pick-up in a few of the developments we host which have been stagnant for a couple years. Your timing may be right. The places that selling are either offering lower priced units, or some element of uniqueness. One development that has done exceptionally well offers a village setting with business intermixed within the residential housing. This development commands top dollar and is always in demand.

You hit the nail on the head - short sales have become an absolute dread!! The banks require a deluge of paper work and processes. Often by the time we muscle thru all the paper work the deal falls apart. We have had several deals fall apart at the closing due to bank mismanagement - typical scenario is that the bank manager attending the closing is from a different bank department than that which handled the paperwork prep and the bank finds it's own paperwork incorrect or inadequate. It is a "big business" circus - avoid. How's that for optimism - LOL

The one thing that I found that is motivating some sellers today is if they are looking to move into another home and bump up. Larger homes have lost a greater percentage of value in many areas. Folks looking to move up are willing to accept the loss on their existing home when they look at the gain the bargain they are getting on the new home.

If you are just getting in you may be about to get rich!!! I envy you. Buy as much as you can and than buy some more. You may have to hold for a few years but the rental market is pretty hot right now. Always buy in a good location. Look at the neighbors home and schools. If all is well than consider closing the deal. If the location is marginal - let it pass, else you may have a huge burden (boat anchor) on your hands. Location - location - location. Do it.

If you go to Home Depot or Lowes you will get the quality you pay for. Cheap carpet is not so good, expensive carpet is better - LOL. If you go just about anywhere else, NEVER, never ever pay the list price. Buying carpet is like buying a car. Unfortunetly you must negotiate and haggle on price, else you paid too much!

Floor time is required in most brokerages as it is in ours - and YES, you may get some leads. As a matter of fact, most all customers are either 1) working with an agent from past experience (or referral), or b) walk in the door, call or web contact (email) the brokerage. At our office the agent on the floor gets all walk-ins, calls, and web contacts that may occur during their shift. Do the most productive agents/brokers participate in floor time? Typically no, as they have a HUGE cliental. But they did when they were first growing, that is how you build your cliental!

Location, location, location...... BUT - lets have a little compassion here!! It is a handy capped meeting place you are talking about AND it was there before you bought. How does the place look? If it is a nice clean well run establishment, I am surprised that there is concern. It it looks in need of some TLC, maybe you can pull together a community group to do some volunterr work and tiddy the place up. It would be a win win!

You will not see a better buying opportunity than this - period. Like stocks, you want to buy low (buy on the fear as Buffett would say) and sell during prosperity. Unfortunately so many people (non-investors) do the exact opposite. Housing remains the weakest part of the economy. Last year was the worst for new-home sales on records that go back nearly 50 years.
This great news for investors with patience.

Massachusetts state's highest court ruled yesterday that banks and lenders must have proper documentation before foreclosing on a home. Seems like common sense, but then again the current state of big business ethics is at an all time low. In any event, this ruling
will certainly impact other sectors of the real estate industry and may yet further tighten lending as banks turn a more conservative and

perhaps wiser and traditional approach on their lending.