RE/MAX Leading Edge - Blog

Lowest "Spring Inventory" In Over 10 Years!

2013-05-17T14:47:51-04:00

A Spring Market Like No Other

2013-05-15T20:21:19-04:00

We are pleased to present market trends for the various communities in which we have offices. Today we are showing the format using Melrose stats as an example. Watch this blog for other communities and if you want information on a town other than our focus, call your RE/MAX Leading Edge agent.

REl/MAX Sponsors Zonta Club of Arlington's Rummage Sale

2013-05-04T12:19:56-04:00

Again this year we were pleased to be a sponsor of the Zonta Club of Arlington's Annual Rummage sale. This fundraiser helps the club supposrt various community endeavors including the Arlington Food Pantry, and the Arlington Board of Youth Services. Pictured eres Helene Vecchione of More than a Move helps set up with one of the any volunteers.

Mortgage Counselling for Would-be Homeowners

2013-05-01T11:27:13-04:00

A recent study reported by NAR reports that mortgage counselling for home buyers significantly lowers default rates. More importantly this type of program might help potential homebuyers enter the market more confidently. The economic downturn of the last few years left many would-be home buyers wondering if they would qualify for a mortgage under the new stricter guidelines. They might have weathered the downturn unemployed and have recently returned to full time employment. They wonder about employemnt history. Credit scores many have suffered as they struggled to keep up. As this group of homeowners struggle to get back on their feet home ownership is often a primary goal.

A real estate professional or loan officer can usually direct consumers to this type of service.

Earth Day Celebrates the Power of One

2013-04-22T18:02:07-04:00

When global warming is discussed many of us feel that anything that is a "global" problem is too much for one person to tackle. In the last few years Earth Day has offered the opportunity for many to become aware (and form better habits) of the little things that have a great impact when done by many.

How are you celebrating Earth Day today? How do you celebrate it every day? Because of the awareness the celebration of Earth Day has created, more people are planting trees, riding bikes, recycling, backing political leaders who support the enviornment and doing so many other things which help our planet.

Dead rivers are coming alive. Cities previously smog bound boast fresh air.These miracles are the result of many people making small changes..."The Power of One"!

Myths, Mysteries & Mistakes of Home Ownership

2013-04-18T16:26:50-04:00

You can’t control the economy but you can make the most of your real estate investment in any economy.

Join us for an evening with the real estate experts. If you are a homeowner or a seller the evening will help you maximize your investment in your home. If you are a buyer you’ll learn how to find opportunities and how to buy smart.

This program is scheduled in Winchester at the Griffin Museum, 67 Shore Rd next Tuesday, April 23 at 7 PM. If you are unable to attend on Tuesday evening, please email maryannoc@comcast.net for a schedule of future seminars.

Brian Cavanaugh of RMS Mortgage Shares Insights on Interest Rate Movement

2013-04-10T11:21:54-04:00

The Federal Reserve and Mortgage Rates
Understanding What Causes Interest Rate Movement

Consumers are often misled when it comes to the subject of the Federal Reserve and how it affects mortgage interest rates. Often the media is the culprit causing the confusion. Many times, the Fed has taken action that caused mortgage interest rates to move in a direction other than what consumers expected, because the media provided weak reporting on the subject.

The Federal Reserve affects short-term interest rate maturities, the Fed Funds rate, and the Overnight Lending rate. These factors have a direct impact on the Prime rate. If you took only this into consideration, you may mistakenly conclude that changes made by the Fed will cause a similar movement in mortgage interest rates. However, mortgage interest rates are dictated by the trading of mortgage-backed securities, which trade on a daily basis. The real dynamic at the heart of interest rate movement is the relationship between stocks and bonds.

Stocks and bonds compete for the same investment dollar on a daily basis. There is literally only so much money to be invested. When the Federal Reserve feels that interest rates need to be decreased in an effort to stimulate the economy, this reduction in rates can often cause a stock market rally. When the market becomes bullish, the money to invest in stocks comes from the selling of mortgage-backed securities.

Unfortunately, selling mortgage-backed securities to fuel stock market rallies causes interest rates to go up, not down.

Historically, there have been many times when the Federal Reserve has increased interest rates. Stocks then sell off in fear that the increase will affect corporate profit margins, and the liquidated stock assets need a place to park until the next rally comes along. The safe haven is found in mortgage-backed securities which cause mortgage rates to drop.

The daily ebb and flow of money is what matters most when it comes to the movement of mortgage interest rates. I make it a point to continuosly monitor interest rates for my clients, and advise them of opportunities to manage their mortgage debt at a better rate. This is the foundation of my business model as a Trusted Advisor.

Brian Cavanaugh

Senior Mortgage Banker
Residential Mortgage Services Inc.
Phone: (617) 771-5021
Office: (857) 453-5908

Linda O's Article from The New England Real Estate Journal

2013-04-08T11:59:17-04:00

The following article by Linda O'Koniewski appeared recently in The New England Real Estate Journal

Get ready to sell! Sizzling hot spring market for

sellers who create the right product for market

Successful agents will often be heard cautioning desperate buyers in hot markets with the following sage advice: “If you want this house, count on it selling significantly over asking, and the only way a seller will consider your offer is if you waive your home inspection and financing contingency because you are going to be competing against strong, cash offers. Maybe they’ll let you do a home inspection for informational purposes only. And by the way, did I mention that it’s very likely that the bank appraisal will come in lower than your offering price? Prices are ticking up and we don’t have comparable home sales at today’s new prices. So naturally you are going to have to put more money down than you expected to secure your mortgage and you need to be mentally prepared for the bank to tell you it isn’t worth what you are paying. Otherwise, don’t bother to place an offer, you’ll only be setting yourself up for failure and disappointment.”

These discussions are happening every day in Greater Boston, but the hottest market on the map is Arlington, Massachusetts, where absorption (closing) rates have exceeded 100% the past two months. That’s not a typo - more homes closed in that town in January and February than were actively on the market. A stable market closes approximately 20%, or one in five, of its active inventory. Meanwhile, there are still some lagging markets in New England that are crawling out of single digit absorption rates which crashed prices down 40% or more. Arlington prices are up 5.7% from the height of the regional market (July 2005), and several Greater Boston towns are approaching those high numbers once again.

Incredibly low interest rates combined with a shortage of inventory is creating the buying frenzy of 2005 in some New England markets all over again, while other markets throughout New England are feeling the relief of stabilization with a healthy balance of inventory to meet buyer demand.

However, there are some good properties in the hottest markets that aren’t selling. Some sellers are trying to leverage the news that the market is rebounding and insist upon pricing their homes higher than a buyer’s perceived value. Human nature continues to thwart potential sales, because one of the biggest mistakes sellers make is that they don’t detach emotionally from their property to view it as a product for market as a buyer does. Sellers continue to place more value in their home than buyers do. As a result, even in this frenetic market, there is inventory of quality homes where buyer and seller expectations can’t meet, resulting in good over-priced homes on the market meeting buyer resistance to pay.

Smart buyers will watch those properties for price reductions, signals that the seller is coming into reality, and may even get a decent deal on the house because homes that are over-priced often languish and sell for less than they would have had they been priced properly on the market on Day One. Buyers today have more information than ever and they know more about a property than some sellers do. Buyers can quote the price per s/f, they know the amenities and condition compared to other active properties, and they know what they can get for their money and they don’t want to overpay.

Savvy sellers need to hire agents with strong strategies to guarantee top selling price. But here is the quick and dirty way to create the most value when any seller goes to market. Create a product for today’s buyers. (They are usually younger, and the Burger King generation grew up having it their way, so remember they take steep and serious discounts when they perceive a home needs updating.) Ruthless de-cluttering, fresh paint and refreshed kitchens and baths are the best return on investment. Houses that have a “today” look sell for top dollar.

Hire an agent who will provide excellent marketing and fantastic exposure on the internet. Print advertising won’t sell your house, but it is good for the agent’s business. Description of properties should not “oversell” a home, but rather attract the right buyer.

Good photography is priceless. Remember your first showing and open houses are online and you need to be sexy to get more matches or “visits” to your home. This is a numbers game. The more buyers who come to see it, the better price you will fetch. Creating competition – a bidding war - is the number one way to maximize your equity.

Consider staging. Staged homes sell in 29 days compared to 145 days, and sell for much closer to asking price. Remember, staging is not a decorating decision, it’s a business decision. Detach from your house. Your buyer will pay a lot more for it with Pottery Barn-like furniture than if your plaid couch and recliner and grandma’s dining room set are holding court. No seller wants to hear that they need to refresh and stage, and they need not take this expert advice. But if they don’t, they need to be prepared for a significantly lower sale price and longer time on market.

Have You had an Energy Assessment Yet?

2013-03-14T12:43:58-04:00

Thinking about a home energy assessment? Get the low down with our partner Next Step Living about the benefits, incentives and what to expect!

Newton's Got Talent

2013-03-11T18:26:45-04:00

Getting a Real Person on the Phone

2013-03-04T13:45:01-05:00

Thanks to Scott Levitt, President of Oakley Signs & Graphics, for the following article which appeared in his weekly Newsletter,

Tuesday Tactics

How to "Get Human" Customer Service Fast

Real customer service can seem like a thing of the past if you've ever tried to call up your credit card company or a government agency. Navigating those numbered menus (or even worse, trying to get a computer to understand your voice on your cell phone!) can leave you with enough rage to chop down a phone tree.

Fortunately, when you frustrate enough people for long enough, someone will come up with an online business to help alleviate the problem. Enter "Get Human," a resource for connecting you to a real human being in customer service departments.

With Get Human you can find the best phone number for any company. Benefits include:

Fastest way to contact a human
Shortcuts through phone mazes
Analysis of average wait times
"Call back" feature, instead of waiting on hold
Direct connections to live chat support
Best email support channels
Corporate and executive email addresses
Predicted email response times
Links to customer support channels on Twitter and Facebook

Save time, improve your service experience. Get Human today:
http://gethuman.com/

Fido and Paws - Best Friend or Smelly Pet?

2013-02-21T17:42:21-05:00

By Linda O’Koniewski

Most of us love pets, but how does a pet affect your sale? Will the fact that your dog runs loose mean that some brokers won’t show your house? If your dog is caged or in the yard will it bark loudly and distract from the showing? Will your cat try to make a break for it the minute a Realtor opens the front door? Is the pet food out and does it leave lingering odors? Is the litter box in the kitchen really a great showing asset? And one of the most awkward moments we have with our sellers is when we have to let them know we can smell their pet. If you are seriously thinking about selling consider the questions above. Ask yourself if it is wise to have your pet at home during the showing process and consider boarding or sharing your pet with a good friend during the time your house is on the market. At least make a plan to make sure your pet is not interfering with the house showings. Additionally, ask a trusted friend, one who claims to have a sensitive nose, to let you know if she can detect pet odors. If so, know that it must be addressed professionally or that an offensive odor in a house will inevitably cost a seller thousands and thousands of dollars.

We've Got the Most Visited Site!

2013-02-18T12:06:29-05:00

Office Ambassadors Meet with the Management Team

2013-02-12T09:59:31-05:00

RE/MAX Leading Edge owners met with associates who were recently named as ambassadors from each of the company’s offices. The dinner meeting at the Beacon Grille was an opportunity for the group to consider how the group can function most effectively.

“As I have visited each office, I find each office is as unique as the communities they serve”, Paul Mydelski, owner, noted as the meeting opened. “Our management team is committed to understanding the unique challenges the real estate professionals experience in each office”, he continued.

The group agreed that essentially they can act as the eyes and ears of the office. As these professionals go through their day, they will simple listen and note things that can enrich the agents’ daily workplace experiences.

“We also want to know the good things that are happening, like new babies, grandchildren, community service accolades and professional recognitions”, insisted Eileen Hamblin, owner. Debbie Miller, our Lynnfield office ambassador, remarked “We have so many associates in our company who do tremendous things in their communities for different causes. We need to recognize them because they do things quietly, under the radar. While they are not looking for recognition, we want people to know the ways we are all committed to our communities beyond our professional careers”.

Steve Chuha, owner, noted that the group is not meant to function as “gatekeepers” for the management team. “It is important for our agents to know that any one of us will always make ourselves available to meet with any agent who wants to speak with us. We definitely have an ‘open door’ policy”.

After a discussion of how the group can capitalize on social media, the meeting adjourned. Later Linda O’Koniewski, owner, pointed out that the management team is genuinely committed to creating a company with the best features of a small company while becoming a powerhouse in the marketplace. “We want each agent to have the comfortable feel of a small company with the reach and brand recognition a large real estate organization provides,” she notes.

Ever Wonder About How the Balloon Became Our Logo?

2013-02-10T20:04:12-05:00

Making our Voice Heard - With Banks and Lenders

2013-02-06T11:19:08-05:00

Recently RE/MAX asked their agents to make their voices heard on lending practices and policies. As the world’s most successful real estate company Campbell Communications has turned to us for feedback on lending standards and delayed closings. These are critical issues facing real estate professionals and their buyers and sellers. Our agents’ opinions will be delivered to major lenders. Here Mike Hughes from our Newton office reviews the survey. Our clients and customers are invited to share their stories with us and we will pass the information along.

Exceptional Customer Service is Easy for Us

2013-02-02T10:07:46-05:00

There isn't a service industry who doesn't boast of excelent customer service. But helping people buy and sell their homes give us unbelievable opportunities to connect with our clients on a human level. A recent Forbes Magazine article suggests that "authentic caring" is one of the qualities of a successful service provider. Real estate professionals don't have to look to far to find ways to take the stress out of an inherently stressful situation filled with change. You expect an agent to educate you about the process, to provide you with standard forms. or to help you meet deadlines. But a good agent seeks to exceed those expectations by a mile. Our clients continually report that the agent "walked the dog", "introduced the kids to the kids in the house next door" or "provided us with a meal on moving day". It's these small kindnesses that help make the customer experience exceptional.

Angie's Home Team Sponsors Laundry Drive for Food Pantry

2013-01-31T23:26:31-05:00

Daniel and Lois Benjamin are pictured here with Laurie Hunt and Angie Sciarappa of Angie's Home Team at the event at our Wakefield office. 79 bottles of laundry detergent was donated to the Wakefield Interfaith Food Pantry. We're so proud to be associated with professionals who are always giving back to their communities.

It's Girl Scout Cookie Time - Here's the Good News and the Bad News!

2013-01-29T13:29:47-05:00

If You are Your Family's CFO, Check This Out

2013-01-23T10:49:13-05:00

Scott Levitt, President of Oakley Signs and Graphics, recently introduced us to a very useful website. All of us have been taught in school about the way to calculate things like interest rates that we need when we are buying a home, car or considering a credit card purchase. However, most of us either have forgotten what we learned or don’t want to take the time to “figure it out”. Well the good news is that there is now a website with any calculator you might need. Check out http://www.calcmoolator.com/. We’re sure this will become one of your favorite sites.

We Must Keep the Dream Alive

2013-01-21T16:29:03-05:00

Energy Efficiency Should be One of Our New Year's Resolutions

2013-01-15T22:32:16-05:00

Energy efficiency is a great investment in your home.

Manage your costs and be more comfortable all year round.

Look into a no cost Home Energy Assessment.

If A Tree Falls.....

2013-01-09T17:15:49-05:00

Hurricane Sandy and the upcoming winter storm season prompt us to think about the ground rules for fallen trees. Several liability questions seem to crop up among neighbors with regard to trees on property boundary lines. It is not our intent here to provide legal advice but we hope to give you an overall idea of the ground rules on which many resolutions are determined. Robert Kuntner, a partner at Casner and Edwards, recently published this article in the Bay State Realtor which is the official publication of the Massachusetts Association of Realtors, which does just that.

Where are You Going to Invest Next?

2012-12-26T14:55:10-05:00

Here's Some Good News - A Holiday present for Market Watchers

2012-12-24T14:43:44-05:00