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Buying a Home Today: The Opportunity of a Lifetime

By RE/MAX of New England - Last updated: Monday, February 13, 2012

By Steve Harney
Inman News’  2011 100 Most Influential Leaders in Real Estate
Author Keeping Current Matters

More and more research is coming out showing that it makes great financial sense to purchase a home today. Whether it is rent-vs.-buy ratios, income-to-price ratios or income-to- mortgage payment ratios, purchasing a home right now is a bargain compared to historic norms.

If we look at the COST of a home today compared to pre-peak prices, we can truly understand the tremendous savings available in today’s real estate market. According to the S&P Case Shiller price index, residential real estate values have returned to 2003 prices nationally. That, in itself, says something. However, when you factor in mortgage rates, the case for buying a home today becomes even more compelling.

In 2003, 30 year mortgage rates stood at 5.83%. Today, they are under 4%. How does that impact the actual COST of a home? On a home purchased for $250,000, here is the difference in monthly cost:

You save $278.12 a month, $3,337.44 a year and $100,123.20 over the life of a 30 year mortgage! You buy the home for the same PRICE but the COST has been reduced by more than $100,000.

This is why so many financial advisors are saying that this may be one of the greatest times in history to purchase a home.

Wanna Buy A House? Write A Love Letter

By RE/MAX of New England - Last updated: Monday, January 9, 2012
Even in today’s age of technology, a personal note goes a long way. So why not apply the “personal note” strategy to the homebuying process? We arm our buyers with fancy CMA’s laying out the perfect price range for every offer. We advise them on each move for counter-offers and bidding wars. But in the technological whirlwind, we sometimes forget who is on the other side of the transaction: a home seller. And homesellers are (usually) regular folks — eating leftovers, doing dishes, and watching the news in their pj’s — all the while wondering who will buy their beloved home. Selling a home is an emotional process. So if you really want to help your Buyers to win their dream home, recommend that they show the Sellers some love with a Buyer Love Letter. Here’s how.

Show Respect!

Formality will show respect and set the tone for a more civilized transaction. Begin your letter with a polite salutation, as in “Dear Homeowner’ or “Dear Owners of 8 Sunshine Street.” Sign the letter with the same tone: “Respectfully” or “Sincerely Yours.”

Introduce Yourselves Sellers wonder WHO will buy their house.

Let them know it’s YOU! Tell them your names, occupation, kids and pet names. It’s harder for them to reject an offer from “Tom the English professor and Mary the pediatric nurse,” than from “BUYER #1.” If Sellers feel like they know you, they’ll be more willing to work with you — even when you’re asking them to replace the oil tank!

Tell Them Your Story

If you’ve been looking for “your dream home” for a year, say so. Was there “a moment” when you walked in to their home and said, “This is the one!” Share it with them. They may remember a similar moment when they bought their dream house.

Accentuate the Positive
Sellers work hard to put their home’s best foot forward. Let them know it shows! Compliment the “cheerful perennials,” the “sunny breakfast nook” and the “cozy living room.” Avoid pointing out the home’s flaws, and instead share your vision for the house: “We’d love to add dormers for the kids” or “I can hardly wait to turn that great unfinished basement into my man cave for Sunday games!” Sellers will be more willing to hand over the keys to their kingdom to Buyers whom they trust will appreciate and care for their home as well as they have.

In the end, some Sellers won’t care a lick about your gushy note and will hold out for the highest bidder — no matter who they are. And there’s no “love letter” that can replace a decent offer! But when all things are equal (especially in a competitive bidding war), and the only thing standing between your offer and another buyers’ bid is your thoughtful personal note, it could be just the thing to persuade a Seller to pick YOU. A Buyer Love Letter just might win your Buyers their dream house.

Katherine Waters-Clark is a Realtor® and Accredited Buyer Agent with REMAX Leading Edge in Winchester MA. She has successfully used Love Letters to help many of her Buyers win their dream home! Contact Katherine at 781-856-2728, Katherine@yourhousegal.com, follow her on Facebook, Twitter, Linked In, Yelp.

By Katherine Waters-Clark, REALTOR® ABR
Professional Writer
RE/MAX Leading Edge

Moving Your Real Estate: How A Professional Photographer Can Help Sell Your Home

By RE/MAX of New England - Last updated: Monday, December 12, 2011

By Jane Berger

I spent several years living in the New Orleans area, my husband’s home town.  That is, until Katrina was kind enough to swoop in and provide us with the opportunity to clean house, so to speak, and move north.

Now more than six years later, we find ourselves in the market for a small condo as a second home back in the land of rod iron filigree, Mardi Gras, and gumbo.  L’aissez les bon temps roullez!    

Reviewing condos on-line has been an interesting experience.  All I can say is that their real estate photographers must have moved on with Katrina’s winds. 

I’ve been shooting residential properties for well over a year now, and I know pretty well how to enhance a room to make it more attractive to the buyer – both during the shoot and, fortunately for my clients, in post production.  I can also tell when an image has been taken with a point and shoot camera without any thought for lighting, exposure and composition.  Granted I am a professional photographer, and I’m going to go out on a limb here and say that most people can tell the difference too.

So what we’re selling here is comfort, love, warmth, stability and security – a safe place to just be.  And that’s what we want the images to convey.  You all know that to prep a home to maximize its sellability, it’s best to turn on the lights, clear the clutter and perhaps bring in a professional stager.  What I know is that the need to adjust the exposure, the ISO, the aperture, and the metering for each shot is constant, and my clients will tell you that I take not one picture of each scenario, but several so that I get the cleanest, warmest, loveliest image to use in the virtual tour.  If by chance I didn’t get it right in the camera, which can happen with the contrast in lighting inevitable in every home, I have professional image editing software to help.  I can lighten the outside of the house where there’s shade, make grass greener, and skies bluer.  And I’m only naming a few enhancements here . . . after all, a photographer has to have some secrets.         

Should you hire a professional photographer to shoot your properties?  Only you can answer that.  But with our world now, on-line and attention spans shorter than they’ve ever been, and that first impression can mean the difference between making the sale and not making the sale.  Which is right for you? 

 Jane Berger is a professional photographer residing in Scarborough, Maine.  You may have seen her at several RE/MAX events with camera in hand.  To view Jane Berger’s photos, please go to http://www.janebergerphotography.com.

 

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