Real Estate is Fun

RSS Feed Homepage

Articles: 1, 2, 3

The Face in the "Crow"ed
2008-06-08 14:27:00
The other day, I had the opportunity to exchange business cards with a listing broker from Wakefield. I chose not the to glance at the card at that moment, but rather, showing due respect for the person's name and position, I tucked said card in my breast pocket where warmth from my heart would emanate and...stop me. When I reached my office, I took the card out to enter the information into my database and lo, I received the real estate suprise...you know what I mean. How is it possible that the matronly gray haired old lady with the crows feet is the same person as the picture on the card -- you know -- the dark haired smooth skinned hotty that with a few drinks in me I could see as my "Mrs. Robinson"?Now I do not use pictures on my cards. I leave that spot open and for good business reasons. That empty spot serves a purpose. When I leave a tip, I leave a card with a small note scribed in that spot -- yes it gets business. When I give my card, I give a piece of info beyond...
More About: Crow , Face , The Crow

Retirement
2008-05-23 15:36:00
One of the Venerables in my corner of the world is retiring. The word went out; her spot of the shopping carts is up for grabs. Now, mind you, I do not have a mind to retire myself, but it did put me in the frame of mind to think about retired folks. I see them, you see them. They walk in the malls, plan their days around their meals, drive big cars, make quick stops and turns use a lot of washroom facilities, make a point to know the names of kids and grandchildren. They go out for coffee, read the obituaries, make a point to know the score last night, know which neighbor is scoring with which widow - or at least creating the illusion of scoring. They wash their cars, when they work they do so when they want to work. They go to town meetings and actually read the local weekly rag. I look over the above litany and make note that those items are NOT retirement...that "is" Real Estate Agents. I begin to wonder...who retires from Real Estate? It IS retirement. What other gai...
More About: Retirement

And Now a Word from Jim Brown of First Investors (Belmont)
2008-05-15 00:31:00
Mortgage rates have remained relatively stable with a slight bump yesterday due to the increase in the T-Bills. Jumbo pricing has gotten alot better so that shouldbring the Jumbo market back into play somewhat. Keep an eye on the adjustables as there is starting to be a big spread on the conventional adjustables versus the fixedrates. Yesterday we had 5.25% with no points on a 5/1 year ARM. These adjustments should make purchasing more attractive to borrowers. Be aware of the lenders who are adjusting for declining markets as we have lenders who are going solely on DU conditions which does not require an adjustment. We can do 95% financing on purchases for singles even in a declining market.Just wanted to tell everyone to keep the community homebuyer program in minds whichprovides a lower downpayment and easier loan qualifications. We have a program For: 1 Unit 97% LTV 2 Unit 97% LTV 3 Unit 9...
More About: Word , Brown , Investors , Jim Brown

Pass the Puck
2008-05-13 16:52:00
Summer is coming, and I intend to be on the ice. If you are a parent with a skating kid, a parent who wants his kid to play hockey, a parent who lives in Belmont or Arlington, come join us on the ice this summer. Yes I HAVE ICE, lots of it for hockey kids. Hockey Summer '07 is now Hockey Summer '08. For an hour each week I won't be talking homes and plot lines, but rather zones and blue lines - actually I'll be shouting it. Contact me if you want your kid in (boys AND girls). Oh, by the way...beware, I use the Suzuki method here...parents will be forced to come out onto the ice and make fools of themselves.Touch base with me for details... 617.470.8085
More About: Pass

Living Quarters
2008-05-05 14:30:00
I saw a "Utah" quarter this morning. It send the mind in motion to that day a long time ago when, getting what turned out to be a "Delaware" quarter in my change, I complained to the clerk that the said coin was not United States and must be from some foreign clime -- say Cambridge. The clerk, nun-plussed, explained to me that the coin is from a new series, "Coins depicting the states in the order that they joined the Union," she said. "Delaware is the first one. I'm going to collect them."I asked her how to get them and she said, "In change. Over the next NINE years. They will do this until 2008". 2008 sounded so high-tech and space age. So far into the future that is was "un-fathomable". Yet it turns out it was all a "nonce", the flick of a hummingbird's wing: it was no time at all. What it IS, is nearly 1/3 of the way through a thirty year mortgage. And to that end, I contemplated the financial implications of two souls over these last years --a renter and a buyer. The renter h...
More About: Living

Active Interests
2008-04-30 02:42:00
It seems, from the time I came to New England (I am not native to these grey climes), folks have ever taken an overly active interest in my life. This has not has the best of impacts on me, and, in fact, has caused the loss of many things most dear to me.So it is that with great trepidation that I responded to the following inquiry:“Didn’t I see you at the Skating Club of Boston?”Now seeing me there is no great achievement. I am a member of that old club. I am a regular visitor there, and can be seen there every Monday night throughout the year (yes, summer too) refereeing the Monday Night Learn to Skate Programs for the little ones. I also may be seen there on summer Saturdays coaching the hockey. On other occasions, I am there watching my investment scar the hard ice with cold steel. So I was watching when the inquiry targeting that investment brought out and scotched up my defensive “cockles”.“ I saw you talking to Hanako. What do you know about her?”Other than th...
More About: Interests , Active

I Remember You -- Redux
2008-04-27 13:31:00
Agents will do just about anything to get a listing, and I am pretty much the same. I will stop, however, at illegal activities, of course. So too, will I stop at owner supplied selling prices. I pick the price.So it is that a request has come from an prospective lister that meets my criteria of "just about anything".Here goes:November 12, 1994. In the dark trunks, Junior Vasquez at 128 pounds. In the whites, with " C K " on the right hip, Mickey "the Lawman" Gutterman at 126 pounds.It is the third round. At 2:52 I take a cross on the right eye brow that opens up a stream of blood. At 2:58 I take a hit in the left rib cage that makes breathing hard.Between rounds, my trainer the staunches the blood flow and into the 4th I go. Breathing hurts, and my trainer tells me to circle to my left and lead with left uppercuts. This will keep my right eye "away" from Junior, but it will open my sore rib cage to his body shots. It is hoped my left elbow (in uppercut position) will offer some pro...
More About: I Remember You

I remember you
2008-04-15 17:37:00
I am usually wary of that pentameter up top. Usually the "good is oft interred with the bones" as Shakespeare wrote, so when someone "remembers" you, it cannot be for the good.The other day, a woman comes up to me and says that. I try to rehash through ancient wild party visions to see if I can conjure my half of the memory, but there is nothing."Glad to see you, again," I say,-- buying time. "Hope all is well.""Not again," she says, "There is no again, because you've never seen me before."My prurient interests are piqued! We must have "done it" with the lights off.But no. "You beat the crap out if my husband. We needed the cash and he tried his hand at prize fighting at Wonderland. You beat the crap out of him. We didn't get the money. You did. You're the boxer, right?"Relieved, I drop my gloves, so to speak and begin the speech, how are you glad things are well after all where are you living and, of course, if you know anyone who is thinking about changing their living arrangem...
More About: I Remember You

Disguise
2008-04-12 19:01:00
"Dis guy's an idiot," so says the selling broker, "What does he tink, we're givin' dis away for free?"He's talking about my buyer, or actually he's talking about me, or perhaps he's just generally referring to any happanstance that befell since I delivered my offer to him.Too low, I should surmise.Yes, I did the competitive analysis of what the home would cost, yes so did he, yes I looked at the road traffic, so did he and yes my number on paper would seem low.Ahh, but did once care to look at the family situation? There is an issue, an element that rests in disguise -- shall we say. Something wrought out only by hanging out in the local Dunkin Donuts.The seller's take my offer. They need to get out. Many times, there is just something beyond the cold numbers, something in the make-up that is hidden below the grease piant of life. NUmbers tell a lot, but they do not tell all.Maybe I am an idiot, but I do have another deal.

April Fool
2008-04-02 02:08:00
The guy calls me up and tells me he's thinking of selling his home. Wants to know what it is worth. So, "natch" I'm up for the listing and off I go to see the house. This was a few days ago. I take the run through, pull my numbers do my thing, and on Monday, yesterday, I jingle him to tell him I've got a number for him."Natch", he's not at home so I leave a message. "I have number for you," I say, give me a call. My number is 6 1 7 -...." and so on and so on.Nothing that day. Today, on April Fool s he calls."Ah," I say, "Glad you called, "I've got a number for you. I'd like to get together and discuss how it came about and share with you how I will maximize your..." blah, blah...blah...And he says, "No need. I like the number, I think we should go with it. I'm surprised...I thought this was a dead market but wow..."And I am thinking he's got the wrong agent on the line. So says I, "This is Al. over at..."And he says, "I know I like your number...""But," I retort, "I have not ...

Is it Broker or is it.....English, again
2008-02-28 14:59:00
A few days ago I posted a listing description so poorly written that it inspired one of my readers to comment on the lack of professionalism in many REALTORS. The comment is available for your review down yonder in the previous post. I must hasten to note, that the comment writer does not know who the offending broker is, and as such cannot know that the said "perp" broker is NOT, (as in N O T) a REALTOR.You see, folks, not all salesfolk out there are REALTORS. Realtors are members of the National Association. They are members of their local boards, they attend Ethics Training on a regular basis, and adhere to a code of conduct and standards. They take training beyond the bare minimum required for a license......and, they have common sense. REALTOR is a copyrighted term. It has entered the language, sadly, as a name for all Real Estate Sales folk, but sadly, like Kleenex, and Xerox, it is really meant to define a specific entity.Look for the Realtor logo on your agent's card. That ...
More About: English , Broker

Broken (or is it Broker) English Redux
2008-02-23 12:33:00
This is an actual listing description! Only the town name has been changed "to protect the innocent". Spacing, punctuation, and spelling have NOT been changed.Very nice location in the heart of Stupidbrokerville,walking distance to elementary school middle school,high school,parks,banks,shopping,etc.This property must be sold as is condition,and also subject to short sale approval from lender.This house needs a handy man to make it nicer.another price cut come on and see it ,it won't last call for an apoitment ,6 hours time between 10:00 am to 5:00 pm.monday to Saturday Sunday 10:am to 7:00 pm
More About: English , Broker , Broken

Valentine's Day Massacre
2008-02-14 14:37:00
Agents love today because the activites of this evening will, around the world issue out a newly resized families nine months from now and that will mean new housing needs.Lawyers, too love this holiday. It seems, and I will allow the reader to find the stats that are easily found, that Velentine's Day, being not just the holiday of love also the holiday of hate.More fights break out on the behest of this day between otherwise sane and sensual couples. Quite of few of those fights end up in the hands of the happy lawyers, who, like fight promoters, nip and tuck at the edges and pull their pay from the batterings of others.Come to think of it, agents may well cheer for those combatants, too. 2 homes to broker!
More About: Massacre

JuMMMMBOOHHH
2008-02-12 22:05:00
It looks like President Bush will sign the stimulus package Wed. It’s unofficial, but it looks like the new Jumbo loan limits for the area (based on 125% of the median home price per county—we think…)The unofficial numbers:Middlesex, Suffolk, Norfolk counties will go to $518,375Barnstable will go to 512,500Nantucket & Dukes Counties will go to 477,355All others to stay the same—i.e. $417,000

Under Agreement in 11 Days
2008-02-11 23:10:00
Two-FamilyUnder Agreement in Under 11 Days !!What May I Do For You?Al. GuttermanCentury 21 Commonwealth617.470.8085Al.Gutterman@Comm onMoves.com

The STIMULUS PACKAGE of President Bush
2008-02-08 18:40:00
You've probably read that President Bush and Congressional leaders have agreed on a $150 billion stimulus package to prop up the economy and help prevent a recession. News reports have focused on tax rebates for individuals. But you may not realize that the package includes generous incentives for buying business equipment as well.Want more cash in your pocket? The bill reduces the 10% federal tax bracket to zero for 2008 -- then delivers the savings now in the form of rebates ranging up to $600 for unmarried individuals, $1,200 for married couples, and $300 per child up to a maximum of $600. This break phases out for single taxpayers with incomes above $75,000 and for joint filers with incomes above $150,000.The bill also gives you a 50% bonus depreciation deduction for new equipment you buy for your business in 2008. It raises the Section 179 first-year expensing limit from $125,000 to $250,000. And it doubles the phase-out for Section 179 deductions from $400,000 to $800,000. Th...
More About: President Bush , Package

And Now a Word from Jim Brown of FIRST INVESTORS, Belmont (MA)
2008-02-08 17:56:00
Although the news and media keep reporting on the Fed lowering the discountrate, the bond market took a hit yesterday along with the Fed raising concerns about inflation.Which caused rates to increase a little more. The rates are still excellent and below 6%.The forecast is that rates should slide back down over the quarter. Just wanted to remind everyone aboutthe Community homebuyer programs that havecome back in play that provide for lower downpayment and easier loan qualifications. We have a programFor: 1 Unit 100% LTV 2 Unit 97% LTV 3 Unit 95% LTV 4 Unit 90% LTVThe max combined income is $108,000.00. This is a great program for first time homebuyers. CONFORMING 30 YEAR FIXED 5.875% 0 Points 5.375%...
More About: Word , Brown , Investors , Jim Brown

The Power of Positive Thinking
2008-02-02 20:58:00
Cash flow, that is. The pictured home has it. Great for the beginning investor and priced at $439,900, 66 Cottage Street, Watertown, MA, is an efficient 2 Family, has been done over from top to bottom, and features beautiful modern living on a low traffic street close to Harvard Sq., MIT, Brandeis and other universities. Right on the joist where Cambridge, Belmont and Watertown collide, this home is as convenient to everything as it is easy to maintain. Jump in. Become a Real Estate investor. Let the power of positive (cash flow) thinking work for you. Come the the SUPER BUY SUNDAY OPEN HOUSE -- yes, that is February 3, 2008 from 12-2. This home really deserves to be in your playbook. See you there, 66 Cottage Street, Watertown
More About: Power , Positive , Thinking

And now a Finance word from FIRST INVESTORS (Belmont, MA)
2008-01-31 18:55:00
This from Jim Brown of First Investors Mortgage in Belmont (MA)617-484-8383 oremail: jimbrown@firstinvestorsmortgage.netAlthou gh the news and media keep reporting on the Fed lowering the discount rate, 50 basis points yesterday, mortgage rates have actually moved upward a slight bit.I am sure over the month they should slide back but in any event they are excellent.Also there is rumor that the conforming limits will soon be increased to help ease the burden on the larger loans. (lets hope so !!!). In general rates should help spur the purchase market a bit.There are some Community homebuyer programs that have come back in play which provide for lower downpayment and easier loan qualifications. We have a program for: 1 Unit 100% LTV 2 Unit 97% LTV 3 Unit 95% LTV 4 Unit ...
More About: Finance , Word , Mont

Declining Markets
2008-01-29 21:56:00
Once again, if you need to know if a town is in a "Declining Market", email me at al.gutterman@commonmoves.com. If you want to vent, one way or the other, feel free to post a comment down below.If you are looking to buy or sell a home in my area, call me 617.470.8085. And by the way...I am never to busy for your referrals.
More About: Markets

The "Grass" is ever greener...
2008-01-28 14:30:00
It is, whether I am representing a seller or a buyer, my firm belief that I present each property in its best light. Your know, the features to make it sell, or the features that will most likely work to the benefit of a buyer I represent.Yesterday, in the snow, and the rain and the slush, I escort my buyer to a home of rather little charm.Not ready for showing, clothes strewn about, cereal in the sink -- 2 bedrooms that are not up to code (I supposed one could sleep in a garage and call it a bedroom). I surely had nothing to say, yet the buyer persisted in the tour and went upstairs to said non code bedrooms. As we entered the one on the left, the eyes of the buyer met mine -- both our noses twitched and, "Wow, said the buyer, "Bill Clinton must have slept here.""Or," I replied, "at least he did NOT inhale here!""Good stuff," my buyer editorialized, "I wonder where the kid hides it."We made no attempt to find the, uhh, shall we say "potpourri". Rather we exited the home and went ou...
More About: Grass

Zoom-Baah, the Magic Bus
2008-01-26 09:25:00
email me at al.gutterman@commonmoves.com or call me at 617.470.8085 if you need to know if your town is in a Fannie Mae defined Declining Market. And now back to our show...This from: Steve Yeater / Los Angeles TimesA STOP ON THE TOUR: Real estate agent Cesar Dias’ Repo Home Tour buses take prospective buyers to foreclosed homes they might want to scoop up. One real estate data firm has pegged Stockton as the U.S. city with the highest rate of foreclosure filings.STOCKTON - In this city that traces its roots to California's Gold Rush, real estate agent Cesar Dias believes there are fortunes still to be made.That's why he leads the weekly Repo Home Tour, filling two 18-seat buses with prospective buyers eager to view foreclosed houses that can be snapped up at - what he says - are bargain prices.Dias, a Stockton native, said that when he started the free tour in September, some residents criticized it as a tasteless marketing gimmick. But as headlines announce record foreclosur...
More About: Magic , Zoom

Puppy Love
2008-01-25 16:06:00
First off, if you need to know if your home, or the home in which you may be interested is in a designated "DECLINING MARKET", email me al.gutterman@commonmoves.com, or call me at 617.470.8085.Now let us move on, shall we?I am supposed to show the home at 11:30. I get to the home. The owner, a shy sort who seems not to want to be noticed, is still there. Pray be, I ask her, why have you not gone for a stroll some other fashion of repast (as is your wont) while I am here to show the home? Well, actually, those were not my exact words, but I have been reading some Jane Austen, these days, and the impact lingers."Well," she replies, I could not just leave you alone with them. I mean, they are coming right now.""I know," I say, "I think they are good buyers and...""No no no, " she interjects, rather forcefully, "Not them, I mean THEM," and she points to the kitchen.Readers, mind you, I have oft said I've "seen everything" and I suspected she was referring to ghosts, but in this case, I...
More About: Love , Puppy

Declining Markets and Fannie Mae
2008-01-23 19:59:00
I am being swarmed with this up top. Email me if you want to know if your property is in a declining market in Massachusetts. I WILL get back to you the same day, but be patient. For an explanation of decling markets, see the post of January 16 or read below.Al.al.gutterman@commonmoves.comMaxi mum Financing in Declining Markets : Fannie Mae Announcement 07-22Marianne E. Sullivan, Sr. VP of Fannie Mae's Single-Family Credit Polity and Risk Management division, issued a Selling Guide Announcement 07-22 on December 5, 2007. "Current home price trends indicate that home values continue to decline in many markets across the country. As a result, and based on our continued monitoring of loan performance, Fannie Mae is reinstating a policy to restrict the maximum loan-to- value (LTV) ratio and combined loan-to-value (CLTV) ratio for properties located within a declining market to five percentage points less than the maximum permitted for the selected mortgage product."Effective November...

Some Things You Do Not Need to Know About...
2008-01-19 18:45:00
...Somerville. Redux, as in we've done this before but just have to do it again.Bette Davis lived the first decade of her life in Somerville. Katherine Hepburn's grandfather was from Somerville.The smallest national park in the United States is in Somerville...on Winter Hill. It has nothing to do with James "Whitey" Bulger, rather it marks the spot where Paul Revere evaded capture during his "one if by land" gig. Speaking of that gig, the Brits took thier first hostile action against the emerging revolutionaries when they struck the old Mollet Grist Mill in Somerville in 1774. They confsicated 212 barrels of gunpowder and angered thousands of musket toting farmers.The Ford plant in Somerville turned out 75,000 cars in 1948. In 1957, after building just 400 Edsels, the plant was ignominiously closed for good.
More About: Things

DECLINING MARKETs AND FANNIE MAE
2008-01-16 15:12:00
Call me at 617.470.8085 to see if YOU are in a decling marketA NEW YEAR AND A NEW MARKETMaximum Financing in Declining Markets : Fannie Mae Announcement 07-22Marianne E. Sullivan, Sr. VP of Fannie Mae's Single-Family Credit Polity and Risk Management division, issued a Selling Guide Announcement 07-22 on December 5, 2007. "Current home price trends indicate that home values continue to decline in many markets across the country. As a result, and based on our continued monitoring of loan performance, Fannie Mae is reinstating a policy to restrict the maximum loan-to- value (LTV) ratio and combined loan-to-value (CLTV) ratio for properties located within a declining market to five percentage points less than the maximum permitted for the selected mortgage product."Effective November 12, 2007 for new loans, when a property is identified as being located in a declining market, a 5% LTV/CLTV reduction is required from the maximum financing allowed per the applicable loan program. In add...

Snow Job
2008-01-14 20:58:00
Now I consider myself a pretty good marketer, and Real Estate is all about marketing oneself. You get your name out there so much that folks take it for granted that you will sell their home. Today's storm here in my corner of the world (snow -- quite a lot -- for my Arizona readers who love to gloat over their wonder weather) has brought to my attention a marketer excellante!...read that as "without shame."I get a call from a client one streets over. He says, "What a great idea, why didn't you think of it.""Pray tell, what?" I say."The snow blower. The broker. Some broker has a guy with a snow blower going up and down the streets clearing the sidewalks for everybody!""Wow," I say dumbfounded, "but how do you know it is a broker?""Business cards being dropped off in the mailboxes. On the back is a handwritten note that says,'Isn't winter wonderful, especially when you don't have to shovel? All the best, Mike'."Mind you, I am a skeptical sort, and when I, too, got the Snow ...

Interest Rate Update from FIRST INVESTORS in Belmont (MA)
2008-01-09 15:32:00
The mortgage rates continue to stay low and JUMBO RATES have made it back to being competitive. CONFORMING 30 YEAR FIXED 5.75% NO POINTS 5.25% 2 POINTSWe have found new investors offering Jumbo rates at very competitive pricing: JUMBO 30 YEAR FIXED 6.125% NO POINTSOur title insurance companies are offering 10% off on all first time homebuyers.
More About: Update , Interest , Investors , Rate , Interest Rate

NO JOKE -- New Real Estate Laws and Issues
2008-01-08 21:14:00
On Thursday, December 20th, President Bush signed into law a bill passed by Congress: HR 3648 –Mortgage Forgiveness Debt Relief Act of 2007. The three major points are:· Elimination of the “phantom tax” on foreclosures, short sales or other discharges of debt on a primary residence. Consider this scenario: A property is worth $250,000, and the mortgage balance is $300,000. Under the old rules, if a lender forgave the $50k difference as part of a foreclosure, short sale, refinance or loan modification, the borrower had to claim the $50k as income and pay federal income taxes on that amount. The new law eliminates this “phantom tax”, and the forgiven debt is no longer treated as taxable income to the borrower as long as certain requirements are met, such as the discharged mortgage balance must be on the taxpayer’s principal residence.· The tax deduction for mortgage insurance premiums is now extended until December 31, 2010 instead of expiring at the...
More About: Estate , Real Estate , Joke , Laws , Issues

What to do with the Swamp...
2007-12-27 13:38:00
...Do you have that lot in the swamp, that piece on the rocky slope that cannot be attained for six months during the ice season, that Condo converted from a 2-Family? Well, there is something you can do! We'll get to that in a moment, but first we must introduce our inspiration. These folks at this link are marketing a fun and educational (don't you hate that phrase? I think they use it for Chia Pets!) way to own Real Estate. You can buy a postage stamp size plot of land, have the deed, title, porperty tax liens and the whole 9 yards in any and every state. Be a Donald Trump! So the web site screams. Loads of fun for the kiddies. I can just picture the young lads and lassies throwing out their XBoxes for the chance to stare at a property deed all day. Wow! This is more fun than having a star named after you! (Talk about money for nothing!) Oh yes, my brother paid to have a star named after me. Never could find its twinkles in the heavens...must have gotton sucked into t...
More About: Swamp