Archive for real estate for sale

March Madness 2013 in Real Estate

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It’s no secret at a certain price point ( under $400k)  in many Essex county communities (Gloucester, Rockport, Beverly, Danvers, Salem, Essex, Ipswich and Peabody), buying a home  has become quite  competitive.  Purchasing real estate in 2013 has its own  level of “March Madness“. There are 20, 40 or 60+ people viewing well priced properties at open house(s). There are multiple offers and yes people are paying above asking price. Every house? No, just  homes priced appropriately for their age, condition, location and size. Buyers are not offering crazy amounts of money because we all know at the end of the day it must appraise, since most purchases are contingent on buyers receiving a mortgage.

So what will tip the scales in the favor of your offer being accepted, if you are a buyer ? There are four practices I use with consistent success when I know there is a  chance that there will be multiple offers.

1) View the house and make the offer ASAP. The early bird gets the worm. Yes it may be inconvenient and you may have to cancel a previous appointment to go view a house. Sorry, this is  about getting the house you want, not living a balanced life.

2) Offer asking price at a minimum. If you know potentially there will be multiple offers, forget about “stealing” a property. You like the house, you want it, now get it! Offer above asking to a level your agent or lender feels it will appraise at (and you are pre approved for).

3) Have your agent write the “magic letter”. People like to do business with people they know and like. Share with the buyers how much you like their house. Compliment them about their decorating or cleanliness. Find out what is motivating the sellers to sell and speak to that. Be real and be personal. Don’t laugh this works, I have had several clients achieve their home in a competitive situation because the sellers felt like they knew them and liked them after reading the “magic letter”.

4) Last but not least, always ask the sellers agent for a final and last opportunity to submit a final bid if there are multiple offers. Don’t assume that the list agent will automatically give everyone a chance to rebid; they may not. If a buyer does not want to offer more, they don’t have to, but at least they have the opportunity to make up their own mind about their final bid.

The “other” March Madness? All the way with Syracuse for me!

 

 

Walkability in Gloucester? This condo has “Rollability”!!!

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A walk score of 92…this is a walkers paradise! This condo is so conveniently located  in Gloucester you can “roll” out the door and get to lots and lots of locations! The train, the MAC, Shaws groceries, the RumlineGloucester Depot...the list goes on and on and then there is the 5 minute walk to Main Street stores and restaurants! The Gloucester harbor  and Pavillion Beach (great beach for seaglass!) is a ten minute walk away. In an elevator building; it is in excellent condition; lovely finishes and an open living space. I love this location – because I love to walk in Gloucester.

Condition, condition, condition is the new location, location, location

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Location, location location is the age old axiom of advice when purchasing real estate. It is still excellent advice.  But condition, condition, condition is definitely giving it a run for the money and I do mean money. Todays buyers are placing a premium on the condition of a property for many reasons:

1. Buyers may not have excess cash for renovations/updates.

2. Buyers can be overwhelmed by the thought of finding reputable contractors.

3. Buyers may not have the time and patience for home projects (general contracting).

4. Not all buyers have vision when renovations are required.

Todays buyers are placing a premium on the condition of the property. When sellers are preparing their home to go on the market I encourage them to “tie up all the loose ends”; no project or detail should be left undone. Clean as though there is no tomorrow if you want people to purchase your property at top dollar. People just plain like the way clean smells, never mind the way it looks!

Think about it this way if you are wondering what to do when preparing your home for sale.  A home is most people’s largest ever purchase; it requires most of us to be employed at a job in order to make this purchase possible. So to most buyers it doesn’t make sense to purchase a new home that is itself a “project” or a “job”.  At the end of the day, most people only want one job and not one they have to pay a mortgage on!  No they are not overlooking the location, but good condition, condition condition can be a very strong persuader and can overcome other objections a buyer may have.

59 Western Ave has a Gloucester harbor view!

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Ever dream of living on the Boulevard in Gloucester? Having water views 365 days out of the year? Having lots of fun & events at your doorstep? The Fiesta events, the Parade of Sails, the July 4th parade, the Christmas parade all happening at your door step…no need to make plans to attend, you are already there! Walk across the street to Pavilion Beach, sit by the water side, launch your kayak or search for sea glass. Tired of the non stop water view and boat activity? Walk to Stage Fort Park, let your kids or grand kids play at the playground and your dog(s) run free at the dog park. Hungry? Some of the best restaurants in town are all in walking distance. In one direction is the Causeway and in the other direction head for The Franklin Cafe, Passports, Latitude 43 or Cafe Bishco to name a very few :) Walk to both cinemas in town, the train station, the synagogue & churches. Park your car and enjoy the daily pleasures of life in Gloucester served up at your doorstep each & every day, with a harbor view! Think this Gloucester lifestyle sounds like fun?

This two family house is in the middle of renovations, the second floor unit being more complete then the first. Both units are two bedrooms and two baths.The property asks for someone with vision and creativity, who loves a water view!  Take a peek at this opportunity http://59westernave.com