You know the story - Chicken Little believes the world is coming to an end - and hysterically passes on her (his?) belief to her neighbors that "the sky is falling - the sky is falling and Disaster is Imminent "- Until (in one of the many versions of this fable) a lion halts them, and investigates the cause of the panic and manages to restore calm by applying investigation and reasoning to Chicken Little's claims.



We're about to live out this metaphor. Chicken Little is the Media who is about to have copious "data" at their fingertips that may look like it supports that the Sky is Falling - yet again - in Real Estate. Once 2010 October and November Sales close and the data is available for a comparison with 2009, we are about to be bombarded by statistics that will darken the skies with doom and gloom.



Realtors know that Sales were uncharacteristically high in Oct and November of 2009 as buyers managed to squeeze into what they thought was the last opportunity to take advantage of the tax credit. Did we actually see more sales in 2009 over 2010 year over year? That's the question to ask. Since most realtors would bet that an Oct 2009 to Oct 2010 comparison would show 2009 in the lead, we also know that many of those sales would have happened over a period of months but were forced in a shorter window (Oct/Nov ) because of the tax credt. So comparing Oct 2009 to Oct 2010 simply doesn't tell the entire story.



Realtors - There is a call to action here. Take a look today at how your area is doing year over year. I just came out of a meeting in my office where we did just that. In 5 of our primary towns, we're already exceeding the sales that happened in 2009 just with 2010 YTD figures. That is more telling than just comparing a month in 2009 to a month in 2010.



Be the LION - Be Ready - Prepare your data - because Chicken Little is about to claim the Sky is Falling Yet again. You may want to talk to your buyers and explain how it's critical to look at local data and a larger window than a month to month comparison. Be ready with reasoning and data to allay any fears your buyers may have about the market yet again about to fall. It is not. This is a very very slow recovery, but if you look at the local detail data, you do see recovery. Share that information with your buyers. They're not likely to hear it from the media.

Medway has had a few challenging years in Education. The new High School is a beautiful facility but it took a few years to settle some of the apparent flaws in the construction. With the economic downturn that was national, our own town's financial trials in 2006 seemed to double the impact. We all remember when the Library lost accredidation because of our lack of funds, but that has been resolved. And I'm hear to observe in 2010, all is right with Medway and its financial stability.

All is right because, I believe, we continue to exercise fiscal constraint. In some cases that fiscal constraint can be difficult for a school system to manage when seeking to give an exemplarary education to its students. So any volunteer assistance Medway can get, Medway uses.

Enter the Medway Foundation for Education!

The MFE is a non profit organization in town that works diligently each year to raise capital to fund innovative, educational projects throughout the Medway Schools. They do things like a Trivia Bee - a Lego Build a Thon to raise funds and next week is their annual PHONE-A-THON looking for individual donations to their amazing organization. Please take their call next week and give whatever you can give, whether you have kids in school or not. Our school system and all its successes (We were on Newsweeks List of Great Schools this year!) adds to the value of our homes and town as a whole.

Last year this one event raised almost $13,000 for the schools. In the past the MFE has sponsored many successful programs within our schools like the Teacher Sponsored Learning Projects, or the Summer Writing Camp. They've donated monies to utilizing Technology to enhance Education.

Yes, we are a fiscally conservative town and Yes we are in a good financial position and YES our residents support Education in this town and do everything they can do to assist the schools and their students to be successful -

PICK UP THAT PHONE WHEN IT RINGS NEXT WEEK - and donate what you can and KNOW that it's going directly to the students of our town to ensure their success in education!

Market Trends in Medway, MA Misleading?

We are all busy but we all crave information and data is everywhere. I was out with a set of clients (Yes I say "set" because it was actually 3 groups of clients - all friends considering moving to a new development together) when the subject of a recently foreclosed home came up. Information was flowing quickly about when it sold and how much it sold for. I did not offer any information because I wasn't exactly sure. But before we left I heard numbers ranging from 350's to 400's. That was an easy misconception to clear up. When I got back to my office I simply pulled up the listing and sent it to everyone. The home close in the low 400's.

As I said, data is everywhere. Sometimes we get "data" from friends, sometimes we get it on the net. Here's an interesting graph taken from Trulia today documenting at what price point homes are listed in Medway, Ma. What would your initial reaction be seeing this graph?

Medway Homes For Sale

In actuality it's only tracking the mix of listings that happen to be on the market at a particular point in time. I have a home for sale in Medway at $189,900 and I know a home recently went under agreement at $1.2Mil. So we'd all agree listing prices vary considerably. Tracking this information and portraying it in this format MAY cause buyers and sellers alike to determine that the future (based on the recent past) is dire. Not true. Take a look at the MLS stats I've posted on recent blogs. We are NOT in a downward spiral as this graph seems to portray.
So be careful where you get your data and be sure you understood what's being portrayed. If you want specific data on the Medway Market just go to my site or just give me a call. I'd be glad to discuss with you what's really happening in Medway!

Testimonials

Bryan Sullo

(client)



Top qualities: Personable, Expert, High Integrity
“I had the pleasure of working with Marcia through the process of purchasing my first home. Marcia is detailed and patient and highly trustworthy. I would recommend her whole-heartedly as both an agent and a potential resource for other agents who want to learn the RIGHT way to do things.”




Carol Foley

Owner/designer, Castlebury House (business partner)



“I have worked with Marcia on many of her Real Estate listings. I have staged the properties for sale. Marcia is detailed and knows what is needed for her listings to move quickly. I have seen her in action with amazement. She is motivated and dedicated to her clients. She goes above and beyond to seal the deal. Her integrity, and positive spirit make her shine ! I will always be there to help her out and will recommend her highly. Carol Foley,IFDA Castlebury House”




Brad Shoenfelt

Client

Sincere, straightforward and honest. I will definitely come back!



John DeCicco

client

Marcia was recommended by a co-worker who had used her for Relocation. After our initial meeting, it was clear that Marcia was the one to work with. We felt very comfortable with her. She is a very professional , personable, trustworthy individual. She did an excellent job!



Paul Zonghi Builder

Builder / Client



Marcia was professional and proficient. Her work ethic amazed me.



Cheryl Viveiros

Client

Marcia was referred by a friend. She is a super realtor, attentive, responsive and a personal touch.



Lisa Sears

Client

It was a pleasure working with you and your agency, I couldn’t have asked for a better experience



Valerie Martin Relocating from out of state

Client

She seemed to understand us. She had a knowledge of the area. We Loved her !

New Construction Holliston - One of Metrowest's Most Desired Towns

Holliston is attractive, well located to commute to Boston, Providence or Worcester, and is known for its award winning schools. And now there is a new small development (the cul de sac will ultimately have 8 homes) ready to be built. Lot 5 is ready to be built for the holidays! Watch this video to learn more about the lot and more about why Holliston is so desired that rarely do we see homeowners move out - they just move up in Holliston! Don't miss the video to learn more what makes this town so attractive!

Short Sales in the Media

Here's a recent post in the New York Times



Michelle V. Agins/The New York Times
Sharay Hayes is hoping that a short sale of his town house in Harlem will help him get out from under. It’s now in contract.
In the months after the Lehman Brothers crash, most of the short-sale action was in the boroughs outside of Manhattan and in the suburbs. This year, however, short sales appear to be picking up in Manhattan, real estate and mortgage brokers say.


A recent search of sales listings found almost 20 advertised short sales, and that did not include short sales disguised with euphemistic terms like “owner must sell.” The advertised short sales range from a $250,000 two-bedroom on the Upper East Side to a $2 million three-bedroom designed by Philippe Starck in the financial district. They include town houses, co-ops, condops and condos.


And the number of short sales, in which a home sells for less than the amount owed on the mortgage, will most likely continue to grow. The number of lis pendens filings — a first step in the foreclosure process for houses and condos — doubled in 2009 in Manhattan, to 724 from 334 in 2008; this year, 382 had been filed by the end of June, according to the Furman Center for Real Estate and Urban Policy of New York University.


“Short sales are happening and they’re all over the map,” said Melissa Cohn, the president of the Manhattan Mortgage Company. “We’re seeing multimillion-dollar foreclosures and short sales that no one ever anticipated in New York City.”


Jonathan J. Miller, the president of the appraisal firm Miller Samuel and a market analyst, said that 2010 might well be dubbed the Year of the Short Sale nationally. “A short sale is going to be the only way for many people who bought at the peak and who are now underwater to move on with their lives if they have to relocate or downsize,” he said.


Short sales are a gentler alternative to foreclosure for both sellers and lenders. “Compared to a foreclosure, a short sale generally allows an easier transition for the borrower, less impact on their credit history, and larger net proceeds to the loan’s owner,” said Tom Kelly, a spokesman for JPMorgan Chase, adding that Chase encourages borrowers who are unable to keep their homes to consider short sales.

Options when Foreclosure is Looming

The current Real Estate Market has resulted in an enormous amount of stress for many homeowners. It is estimated that one in nearly four homeowners no longer has any equity in his home or possibly owes more than the home is worth. Some are struggling to make payments and to keep their mortgages current. But because there is no equity in their home, they cannot take advantage of the extremely low rates out there today. If you are one of those people, you’re not alone! Millions of homeowners are at the point where they may need to consider options that will work for their family.



Statistics tell us that home owners who are having problems with making the mortgage, often do not seek the advice of real estate professionals. Seven out of ten homeowners facing foreclosure have not looked for an advocate to help them through the process and seek an alternative that may be best for them and their financial future. Foreclosure is not the only option! Short sales and other alternatives should be understood.



I have been trained to understand the options, solutions and effective methods to assist a homeowner who is facing this type of hardship. One such certification, The CDPE designation (Certified Distressed Property Expert) is an in-depth education platform for realtors who want to be the most up-to-date on how to work thru the options with banks and homeowners when facing foreclosure. We help homeowners through the process of finding a solution that will work best for them.



I have also been trained by the Mass Association of Realtors on short sales and the pre-foreclosure process. I have received their certification (Loss Mitigation Certificate) and am active in the Loss Mitigation Realtor Organizations to keep current on trends in Massachusetts.



Let me put my understanding of the current landscape to work for you! Give me a call and I can guarantee you, I will leave you with information on what options are out there besides foreclosure, and a comfort level that you DO have someone on your side.