Someone Has a lot of Time on Their Hands

A bit more time for the New Years Resolution the bemade -- a one more shot of champagne before this artificial barrier is crossed -- read on...

LONDON, England (CNN) -- Always short of time? Not enough moments in the day? Tonight you'll get an extra second to enjoy 2008. Use it wisely; perhaps an extra long smooch is called for.


An extra second will be added to 2008 to align clocks with variations in the Earth's time.

Immediately before midnight a leap second -- the first for three years -- will be added to atomic clocks around the world by official timekeepers.

Peter Whibberley, a senior research scientist at Britain's National Physical Laboratory, said the Earth's erratic rotation meant an extra second needed to be added.

"The difference between atomic time and Earth time has now built up to the point where it needs to be corrected, so this New Year's Eve we will experience a rare 61 second minute at the very end of 2008 and revelers... will have an extra second to celebrate."

Traditionally time has been based on the passage of the Sun across the sky -- a modern version of this is still used by astronomers to track distant stars and spacecraft.

However, since 1967, an atomic timescale -- the extremely accurate Coordinated Universal Time (UTC) -- has been the world's official clock and is used for broadcasting time signals across the world.

The accuracy of UTC is essential for the smooth running of GPS and the Internet.

By comparison, the Earth is far less reliable. It does not rotate at a constant speed -- it can even wobble -- and disruptions to its core, extreme weather, volcanic eruptions and earthquakes can influence the length of a day.

Therefore, leap seconds are occasionally added to align atomic time with astronomical time and ensure that the Sun remains overhead at noon.

Whibberley told British media anyone sober enough and who had a digital clock that picked up leap second information from a reliable source, would see the final seconds of 2008 as 57, 58, 59, 60, 00 -- with 60

George Bail-OUT

So we all gush and weep over the plight of George Bailey of the Bailey Building and Loan. And are we so uplifted when the town folk pour their money at him to well, shall we say it, BAIL him out of a jam?

You see, folks, Mr. GB mismanaged the bank; threw the money at those ill prepared to repay it (Violet get a little slip of cash into her purse). The old man grouses that all you have to do is "Shoot Pool" with the Bailey boys and you get a loan. And then, of course, Bailey kin folk loses the money! Leaves it all on a counter. Gone Gone Gone.

What we have here is not a sentimental story, but one of malfeasance and shame; one of poor management and judgement and one of honest folks having to "pony up" to pay for it. We have a bailout.

Now how is that for Xmas cheer?

Santa Claus is Right Here in Town

My little cell phone camera does not due justice to what these folks have done. It is beautiful. Santa is here...even I am sure of it. No doubt I could look to the public record and see who owns the home on the corner of Ivaloo and Albemarle in Waltham, but why do it? Just believe for once in your life that it is not the normal work-a-day. It is a miracle. Happy season to all.

Here we go again BAILOUTS

This from the AP wire service. Now lets see if cigarette makers, crushed by slowing sales march of to the bailout slop too!

"Commercial real estate developers said Monday they are petitioning the government for support from the $700 billion rescue fund. The Real Estate Roundtable said an estimated $400 billion of commercial real estate mortgages will come due by the end of 2009 without adequate refinancing options.

"Industry officials said thousands of office buildings, hotels, shopping centers and other commercial buildings could be headed into foreclosure or bankruptcy unless the government provides support.

"Jeffrey D. DeBoer, president of the Real Estate Roundtable, said the industry has written to federal officials asking to be included in a new $200 billion loan program being run by the Federal Reserve, with support from the financial bailout program, to bolster the market for credit card debt, auto loans and student loans.

"Treasury spokeswoman Brookly McLaughlin said no final decisions had been made yet on the request from commercial developers. But she noted that Treasury Secretary Henry Paulson, when he announced the effort to help the credit card, auto and student-loan markets, said the new lending facility could be expanded and specifically mentioned providing assistance for 'commercial mortgage-backed securities.'"

Santa Claus is (Already) in Town

In these the dark ages (so the writers at the Boston Globe will have us believe) when we see all about us unsure and upended, it is nice to know Santa is around. If you kids are doubting, just take them tot eh corner of Albemarle and Ivaloo in Waltham. If Santa does not live there, then at least, one of his regional managers does. It s a sight to behold, both inside and out -- yes visitors are allowed in during the early evening to view the displays, and watch the movesment of trains elves, and assorted animals under the watchful eyes of folks who will swear up and down to children that they do NOT own the house, but are just there to make sure nothing breaks.

I've seen this place before -- I've been told that they start their setup in September and go at it until December.

Do not forget to drop of your wishlist for Santa. Just don't tell any auto or bank execs. They may ask for a few billion and Santa is on a limited budget this year

Other People's (Actually Yours) Money; Their Gain

This from the VERY Dead on and accurate folks at Rasmussen:

The latest Rasmussen Reports national telephone survey of likely voters found that only nine percent (9%) give Congress good or excellent ratings, while 54% give the legislature poor marks. Just one-out-of-50 voters (2%) think Congress is doing an excellent job.

Since the election when Democrats grew their majorities in both the House and Senate, Congress has been in the news struggling unsuccessfully to pass an unpopular bailout plan for the Big Three automakers.

Even only 14% of Democratic voters rate the performance of the Congress led by their own party as good or excellent, compared to five percent (5%) of Republicans and six percent (6%) of unaffiliated voters. Thirty-five percent (35%) of Democrats say the legislators are doing a poor job, and 69% of Republicans and 63% of unaffiliateds agree.

Men are much more critical than women. While 66% of men give Congress poor ratings, only 43% of women do the same. Eight percent (8%) of men give Congress positive ratings, along with 10% of women.

One-in-three voters (34%) believes most members of Congress are corrupt, while 39% disagree. In last month's survey, 36% saw most members as corrupt.

Forty percent (40%) of Republicans view most Congress members as corrupt, along with 36% of unaffiliated voters and 28% of Democrats. Forty-four percent (44%) of Democrats do not see most members that way, and 38% of Republicans and 34% of unaffiliated voters agree.

A separate Rasmussen survey released last week found that voters view politicians as being more corrupt than CEO’s of major corporations by a 48% to 25% margin. The majority (59%) also believe President-elect Barack Obama should make government ethics reform a top agenda item when he assumes office next year.

With the Blagoveich scandal breaking in Illinois, a plurality of voters (39%) does not know which political party to trust more when it comes to government ethics and corruption.

The latest survey found that just 14% of voters believe members of Congress are more interested in helping people than their own careers, down from 23% in November. Most voters (71%) say the opposite.

Eighty-four percent (84%) of Republicans, 54% of Democrats and 79% of unaffiliated voters say most members of Congress are more interested in helping their own political careers. Six percent (6%) of GOP voters and nine percent (9%) of unaffiliateds think members of Congress are most interested in helping people, compared to 24% of Democrats.

Thirteen percent (13%) of voters say Congress has passed legislation to significantly improve life in America, but 60% say the opposite. Still, 57% say it is at least somewhat likely that Congress will address serious issues facing our nation in the near future, although 39% say it is unlikely.

Toys for Tots Thanks You

A big fat thanks goes out to all the "Santas" who dropped off toys under the tree at my office. (the sloppy image is from a cheap cell phone -- my cheap cell phone). By my count, there were over 300 items ranging from bicycles to cameras to Tonkas and Barbies, to basketballs (some North Pole Hoopster dropped off 6 at one time), Candyland, Monopoly, Risk, Scrabble and other great games.

Your names are not known but your thoughts and generosity are. In a time of uncertainty mauled by loonies blogging about things that need not be bought by folks who cannot affrod to buy them, it is nice to see the smart and generous ones among us coming up with some great toy staples. Wonderful, splendid.

Best of the season to you all.

All I Want for Christmas is Some Real Bad News

Actually I don't, but the writer of the email a few lines below does...Seems she's having a hard time telling the reading public how bad the Real Estate Market is. It seems she cannot find those big drops in prices everyone is talking about.

I have copied the email exactly as shs wrote it on December 10th. I have blocked out whatever information would point it to her copy desk and thus to her and thus to said "her" getting slapped by her editor so hard she winds up on the unemployment line...or the fat lady blogging line:

Here goes:

"Hi. Not sure if you knew this, but I write the XX XXX XXXXX column
for the XXXXX XXXXX -- the one where we take three properties that
have something in common and do a walk-through, with about six lines
of "pros" and one of "cons."

"This week I'm looking for something that has proved harder to find
than I thought it would be: Price reductions of 20 percent or more.
Ideally, my editor would like the properties to be on the lower end,
probably $500,000 or less.

"Do you think any of your brokers might have one? If so, they can
email me the listing sheet and price-drop info directly; the story is
due on Friday so I'd like to see the houses tomorrow.

"Thanks,

XXXXXXXX
XXX-XXX-XXXX"

Well there you have it. My advice to her? Look at her own condo for inspiration -- she overpaid big time for it.

Toys for Tots

Drop off your toys at 161 Mount Auburn St. in Watertown. Yesterday someone dropped off a great baseball glove; we've got two bicycles and lots of dolls...some kool games that all of us will remember...I promise I won't play with anything -- although that Playdough looks mighty inviting...

Open house here 4-8 PM on December 12 -- This Friday night upcoming. Cocktails and Hors D'Oeuves served. Last year I had kids playing floor hockey in the basement -- this year. Maybe this year the old folks will play, too.

CALL ME AT 617.470.8085 FOR INFO.

Sittin' in the Nest Egg

It seems Americans are optimistic about their homes. According to Rasmussen at least. The pollster has put numbers out on his site that show, "Fifty-nine percent (59%) of American homeowners expect thier home to go up over the next five years". Delving deeper into the numbers, the report avers that 10% think thier homes value will go down. 21% think they'll be kissing their sister, as t he saying goes (in other words, getting nowehere. 10% don't know...

It is that 10% where we may well see the smartest home folk in the world. Afterall, who prices a house everyday? Walks home and checks the bid and the ask on the properties on the lining Main Street? Afterall, the homeonwer owns -- a home not a commodity. Anyone who bought the ranch with an eye on the capital gain and not the living room went about it all the wrong way. Best to have invested in stock certificates.

No the home is more than an investment. If it's value drops in dollars, it does not necassarilymean in drops nthe intrinsics of warmth, comradery, and memories developed behind its walls. A home is a place of well being and health, a place to go -- not a place to market...save that for the fishmongers.

No doubt Rasmussen will hatch and other survey in the next few days. You may wish to, after dinner, sit in the ol' easy chair and read before bedtime.

Name, Rank and "Cereal" Number

I guess it shows. All those kids chomping down on cereal and nut bars as they trudge off down the slope to Belmont High School.

The Results are out and will be on the stands this Monday, 12.8.08. Belmont is in the top 100 High Schools as ranked by U.S. News and World Report". The folks at the weekly rag rated 21,069 high schools in the USA and, as I see it, only 2 from Massachusetts made the top 100: venerable (as in pick only the kids you like Boston Latin and Belmont (as in Belmont plus all the shnooks and malcontents Boston can daily export to us under the METCO program).

Readers are welcome to parry and thrust their way through the list by clicking here. Top 100

In the meantime, I wish all the kids well. Now how about lunch?

American Indian Heritage Day

For those if us who did not notice, Friday -- as in the Friday after Thanksgiving has a name...an official name signed by Proclamation of the President of the United States. While I call it American Indian Day, the government in a small slap in the face to the folks at the AMERICAN INDIAN MOVEMENT (A.I.M.) the lobby group of said people who HATE, yes HATE (74% in the most recent poll) the term "Native American", have, nonetheless, called it Native American Heritage Day. You can look it up. It was signed into law about a month ago -- too late for any festivities, but it seems America celebrated appropriately nonetheless:

Take, for example, the killing of that poor soul working at Walmart. Trampled under an overwhelming hoard of folks, who, even after learning of the death, still went on a-shopping. That sounds about right to me: perfectly in tune with "American Indian Heritage".

Let's look about: The day is called, so the news folk tell us, "Black Friday". Bleak indeed at first look, yet in tune with the Indian experience. Ahhhh but take a closer look and you will see the real meaning of the name is more upbeat and commercial -- it is the day retailers "go into the black" for the year. As in, making money, or to get at bit of tie-in to the "new" holiday, "Theyum collectum lots of Wampum --- ugg, Kimmosabie".

When a day is set aside to celebrate and reflect on an ethic/ethnic cleansing situation, one should expect that day should be devoid of other focal points. Of all days to pick, one wonders why the BIGGEST shopping day of the year was plucked from the calendar to celebrate the American Indian.

Is it because it falls right after Thanksgiving and the tie-in was needed? Or was it because, like the American Indian Cultures, it was all meant to bury it under the weight of the dollar?

It is not worth asking. After all, "White Man Speak with fork tongue". So sayum Bigum Chiefum Broken Wind.

Style Boston

Not long ago, a social print outlet in this part of the world published its "25 Most Stylish" People list. Not one to take a particular interest in the delicacies of lingerie or, for that matter, jockey shorts, I took little note of the event, until, buy third party, it came to me that an associate of mine IS on the list.

I called said associate to discuss the issue: "How," I asked,"could you be on such a list. I mean, look at yourself, you look like; you look like Bozo without hair orange dye -- a fat Bozo, a Woodstock reunion of Bozo; and you have a pot belly, and, for crying out loud, that tie is a throw out from TJ MAXX!"

"Sour grapes," he replied.

"Nonsense," I said, "I'd never make a list like that. It's not on my radar..."

"It should be," he retorted, "You almost did make it. They let me see the 'competition'. You were in the top 50."

I was shocked. Now mind you, I do not exactly buy my clothes at K Mart, but that's only because they closed the joint down on Western Avenue. I am a Target man now. So how is this possible?

My associate explained: "Style is not what you wear. It is who you are and what you are and have been. It is what you say, how you say it and what people think you will say. It is not about selling or telling someone to buy something. It is about the statement. YOU were seen speaking before a group of stuff shirts, about the time of the Mortgage meltdown. You were making a case for a way out of the mess. You brought the guys to tears -- sort of... What you said, and how you said it, did the trick."

So there you have it. Me in my Modells jeans and button down from Target, an arbiter of style. Ain't that a kick in the pants...

Oh Bumma

Personally I would have preferred John Edwards. What with the dark ages before us, it would have been fun to have had a little levity in the White House -- you know, John Edwards being a, well, a John. The whole "first lady of the night" thing going with that "grrl" friend of his. Failing that, I thought Clinton would have been fun -- Bill in an apron whipping up a batch of cookies while madam President serves up the social welfare.

McCain would have been nice, but not for himself. With the election results this morn, a whole industry was wiped out. How many "Nailin' Palin" movies would have made it direct to (Adult) video had the election turned? The morons in Hollywood (the less fashionable sections) missed an opportunity here.

I guess we are stuck with these folks in the White House and there is nothing funny here.

One wonders how the bostonmamas site is doing. You will remember that bostonmamas was once a porn site for "women of color". Perhaps searchers have gone there for a look-a-like for Mrs. Obama. Sad to say -- at this version of BM (not bowel movement here, bostonamas, but the same stuff is coming out), our searchers will find naught but housewives of the fat lazy constitution telling other housewives of the same constitution how to waste the husband's money without lifting a finger -- USE PEAPOD GIRLS -- WHY STRETCH OUT THE GIRDLE WALKING THE AISLES..., YOU CAN GET THE LEFT OVER SHELF LIFE CRAP DELIVERED RIGHT TO YOUR DOOR AND NOT MISS A BLOG OR SOAP OPERA BEAT.

After all, hubby does not need the money -- there won't be any "Nailin' Palin" videos to buy.

The Elect

On the voting line to throw my voice early this morning; the bloke behind me had his daughter and was explaining to her the process unfolding:

"Well," he said, "today everybody will vote for President, well sort of, I mean not exactly but somehow somebody is getting a vote."

"Why is it so crowded?" the girls asked.

"Well, these people are coming early because they have to go off to work and..."

"Who will be here later?"

"I guess," he thought for a moment, "I guess, old people, students and people without jobs who have no place to go...you know, like well, like, Auntie Claire, who's a Real Estate Broker. She can vote later...she's got nothing to do."

Well, there you have it folks. In this the dark times, we have an "on the street" opinion of Real Estate Brokers -- homeless souls with naught place to go, no job, no life.

Maybe Aunt Claire is one of those 30 percenters who have cashed in their chips, and cashed out of the business rather than face the hard work.

As for me, I am here before anyone else hits the office. I've voted and I am ready to do business.

GIve me a call.

The Living Dead

I have been a tad under the weather these days just gone, but, nonetheless, I was rather perplexed when the phone call went this way:

"Hi, this is Al. here. How may I help you?"

"Oh-My-Gosh," she yelped. "I heard you were dead. I mean I heard you just died, I mean I am surprised to hear you."

One should wonder,...if "she" thought I was dead, why would she call...whom did she think would answer?

This being the season of Halloween however, it all seemed, ironically appropriate.

"Actually," I retorted, "while not fully dead, I did join the Legion of the Undead, the blood sucking souls, who walk the nights sapping the life out of..."

"Well, you have all ways been that... I mean being a real estate agent is the most non-blood sucking thing you have ever been. Tell me something that is new."

So much for respecting the dead.

This put me in mind of my of fellow agents in this the beginning of the Dark Ages, so we are told.

Many, I am finding out, have left the business, pushed out by the lack of a paycheck and the inability to, well, put in a day's work for the day's pay. In the old days of light and leisure, all an agent had to do was sit in a chair whilst buyers and sellers fought out who would bow to the front and who would bow to the backside. Then the checks would pass and buyer and seller would come up from under the table duly puckered from smooching the agent's "privates".

Not so today...

OK, I expand the truth a tad via literary license, but the point is noted. The housewife agents in those golden days did a banner business when all buyers and sellers thought all that "paper" they had was really wealth, but now that the work is hard, the Gals are off the job. I've done an informal survey in my corner of the world and count 30% of the agents no longer hanging out their shingle; opting for better pursuits (like chowing chocolates while watching "The View" or fat Oprah).

The rest of us soldier on. Sucking blood from the streets to feed our families and find you a home. Burning the midnight oil to find a buyer for your home.

OK, OK, it is not that bad, but the REAL Real Estate agents are at work. They may be a little chalk faced from hours away from the spa, but they are working.

As for me, I am going out on Halloween. I'll walk some kids around, grab a Snickers or two, and hand out business cards.

"The Better Half" or "A House Divided" (Take your Pick)

Just in case you missed it. I just want to know if the broker will cut his commission
(CNN) -- A Cambodian couple who separated after 40 years of marriage may have taken things too literally when it came to splitting their assets:


A couple who separated after 40 years of marriage split their house in two -- literally.

The husband cut the house in two.

"It is the strangest thing I've ever seen," said May Titthara, who wrote about the case for The Phnom Penh Post, an English-language newspaper in the Cambodian capital. "People there never saw this happen in a divorce. It is very interesting for them."

The husband and wife had been living together in the house in a village in the Prey Veng province of southern Cambodia, roughly 50 miles (80 km) from the capital.

The couple would not talk to the newspaper, but the village chief told May Titthara that the husband was angry because his wife wouldn't tend to him when he was ill.

Last week, the husband and his friends moved his belongings to one side of the house -- and sawed and chiseled it off, said the reporter, who interviewed the village chief and neighbors.

The couple also divided their property into four sections: for themselves and their two children.

Because the couple side-stepped the provincial courts when they parted ways, their unusual resolution could pose a problem later, said Prak Phin, a lawyer for Legal Support for Child and Women in the province.

"This was a not a legal divorce. It never went to the court," he said. "If they have disagreements in the future, they will not have a legal (recourse)."

The man moved his part of the house to his parent's property, May Titthara said. He lives with his parents, while the wife continues to reside in her precariously perched, upright half.

6 and holding

It seems the world has been puton edge by 6% of the loans in America. Made by riff-raff in granite offices, these loans to folks ill equipped to handle them are holding the lives of the rest of us hostage. It should not be.

Robin Hood is turning on his grave at this give to the poor by stealing from the equally poor while all the while ingratiating the rich on Wall Street. I have been asked for a better way, and here it is.

Let the bastards fall. Let those ill equipped to buy go back to renting. And remember -- money did NOT disappear. It has just gotton concentrated in a few hands of rich folks. We need to get it from them. Let those banks still standing, offer those money folks incentives to park their cash -- higher interest rates, 6% should do it. Then you will have a return to liquidity. Surviving banks, most likely local will administer the funds to qualified folks. Mortgage rates will rise to a level commensurate with the early 80's. And away we will go.

Will it happen? No chance. Congress wants your money so they can give it to Wall Street.

Open Door Policy

Now that the flaks in Congress have opened the doors to your savings with big words to hide the final costs you will incur to bail out their buddies, it is time to look beyond and see that the real estate markets are not dead. A paltry few loans from folks who should not have gotton them from folks ill qualified to give them have secured all the press, but life goes on.

A look about shows that in my corners of the world, people are looking and showing. Arlington has 58 Open Houses this weekend; Belmont 42. Watertown has the doors ajar on 47 locales, and Medford, that hotspot of economic free wheeling, has 27. We need not tally the gross value of the houses here; suffice it is worthy of contemplation. Whether they sell is, of course, another matter.

Life is going on; it will go on regardless of bailouts and bank failures. Folks find a way. It is what makes life great.

If you were thinking of buying but have been scared away, come on, take a ride and visit a house. Talk to folks about it all. Gas is down,...you can afford the trip. I think it will calm your nerves -- and that of a lot of home owners.

"Up" to Code?

On should wonder about a second story door such as this. Perhaps the architect had a previous life working for Warner Brothers and was in charge of "Yosemite" Sam pratfalls. Or perhaps, it is there in case Tweety, living in the bird hole above it, wants a visitor. Whatever the case, just take Bugs Bunny's advice to heart: "Watch that first step, it's a LULU!"

Show Me DA Money

What with everything melting down like butter on a corn cob and folks walking around looking more nervous than a hooker in a cathedral, it behooves me to add my bit of wisdom (I would say "my 2 cents", but the way things are going for a lot of folks, that may be seen as wealth bragging) to the situation.

Where is all the money?

So everything is melting down, money is lost and everybody is poor...just like in the Depression, right? Nope.

You see, we can look at this by way of example. Let's take a poor chap in Belmont --we'll call him "Dumbo Al." for that is what he was called back 1999 when he put 20% down on a multi family in said Belmont. Now "DA" has a 6.25% mortgage; he socks about 40 grand into the place, rents both halves out for 1450 each to good tenants. DA is sitting pretty. He does a RE-FINANCE gig to get the numbers below 6% and he is sitting even prettier. A bit of positive cash flow going. Comes 2005, and Dumb Al gets a knock on the door.

Wouldst thou wish to sell said property? asks the door knocker. How much? Well, it seems, the "HOW MUCH" is almost $400,000 MORE, yes M O R E, that what "DA" paid for it, so Al says ok. He takes the money...he runs; pays off the Mortgage. He is sitting pretty.

Our buyer no longer has the money, in fact he bought it with a low interest low down payment loan. He was expecting to do what AL. did...but he should have done what AL did. He should have used due diligence. He should have looked at rental projections and noted that they are not keeping pace with capital requirements, he should have...you know the drill.

So our buyer goes bust and cries to the government that things are bad. He does not remember that no one put a gun to his head and said buy (The Godfather was not around). He let his greed get in the way of judgement, and now he cries as though he is a victim.

The folks on the news are talking baout hte losers -- they are not talking about the winners in this wonderful "everything nets out to zero" world. There are winners here. The losers cry, but they are no different in intent than the winners -- just that their methods of greed and self-absorption were not properly placed. we should not reward them with bailouts, for they are no different than the winners.

Let them fail; they were not prepared to be there anyway. If General Motors fails, we will stull buy cars, we will just buy them from whatever entity has the ability to make them -- most likely in old GM factories. applied to everything else, is makes for an orderly world where your initiatve gets you forward without need from an excuse note from "MOMMY".

But what about AL (Dumb Al). DA has his money, and he has money from three other folks who bought from him around the same time as the above poor sap. He is sitting really pretty. He took advantage of his skill, and his entrepreneurship. 4 are BROKE and 1 succeeds. Greed killed 4. Good management made succeess for 1.

And that is where the money is -- where it ever been in times like this. A small few follow their own clear council and either buy (or sell) from the many in the herd who are doing what everyone around them is doing. I will tell you now -- I am buying , buyin' and buying in any nook and from any shnoook who has a property that meets my benchmarks.

You should be too.

And Now a Word from JIM BROWN of First Investors (Belmont, MA)

The 10 year bond has dropped down to 3.70 from over 4.00 a month ago. Oil
has dropped in price as well as gold. This points to lower rates and the risk
of inflation seem to be disappearing. Rates have dropped down to %6.125 with 0 points on cnventional loans. The Economic numbers for the month of August should be
coming out this week and next week, this should put downward pressure on mortgage rates. We also have some larger banks offering very aggressive Jumbo Adjustable Rate mortgages. Some of the hi-lites are you can go up to 90% with no private mortgage insurance. There is no price hit for interest only or escrow waivers. There seems to be more activity in the market this month.

Just wanted to tell everyone to keep the community homebuyer program in minds that provides a lower downpayment and easier loan qualifications. We have a program
For:
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2 Unit 95% LTV
3 Unit 90% LTV
4 Unit 90% LTV
The max combined income is $108,000.00. This is a great program for first time homebuyers.

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Call if you have questions 617 484 8383

10,000 Steps, Again...

Our bodies are essentially the same sacks of matter as the bodies of the folks living in these parts some 10,000 years ago. Now I know someone is going to say we are better than the primordal coot rubbing sticks together for a fire as the better half sits in the mud hut, but really when you think about it, are not we that way now? I mean give it some thought and you will note that our homes are brick, stone, cement, stucco -- whatever: when you ponder it, all that stuff is essentially glorified mud. And as for the fire, well, my neighbor took a good half hour getting the briquettes sizzling so he could grill up the ol' brontoburgers this week end just done.

Where we do DO differ is in our methods of locomotion. 10,000 years ago our humanoid ancestor was more like the traveling salesman -- except he had to travel, find the pig, then kill it before he could bring home the bacon for pre-history's answer to the BLT.

Today there is the Stop and Shop, or the Shaw's or any other emporium you may name. And we don't chase and kill the Impala -- we drive in it.

We no longer are taking our 10,000 steps a day. We are Virtual touring, Virtual office"ing", Virtual everything. Except our food is not Virtual. And we are getting fat. We eat too much.

Think it over and you will see how, in even the last 20 years, we have lost our steps: The media remote everytime we change a channel -- 15 steps lost; the cell in our pocket -- 30 steps lost everytime we do not get up to answer the call; the drive through window -- 100 steps; the Hallmark email greeting to Grandma instead of the letter mailed -- 250 steps to and from the Post Box.

Every 25 steps a person takes will burn 1 Calorie. The above examples measure up to about 16 calories of fat stuck on the ribs. Those 10,000 steps we do not take represent about 400 calories of surplus lobbering down there; turning that belly button from an "outy" into an "inny".

What does this have to do with Real Estate? Well, how about scrapping that Virtual tour and taking a real one? Pick your town and walk the streets, hear the birds, feel the pavement under your feet and see if a tax assessment may be in the offing (no V-tour will show that). Then, if you are in my area, call me and I'll walk over and meet you at the corner of Elm and Godin with a lock box key to anything you want to see.

Money moneymoney muhhhneee...

Do you know which special interest has given more money to the Obama campaign than any other?

If you guessed "trial lawyers" -- well, okay, that's too easy. But can you guess which special interest came in SECOND?

Labor unions? Nope. The Green Lobby? Nope. AARP? Wrong, again. NEA? Nyet.

Give up? Okay, here's the answer: Wall Street.

That's right. Wall Street securities and investment firms have given over $35 million to OBAMARAMAS this election cycle. That is nearly five times the amount they've given to McCain.

If you've been wondering why the financial industry has been in meltdown -- and taking your 401(k) or investment portfolio down with it -- now you know.

Let's face it: The former frat boys who populate Wall Street today understand economics about as well as the pinko professors whose courses they snored through.

That's why betting their entire industry on "subprime" loans to people with no jobs and no collateral made sense to them -- and why betting the entire U.S. economy on the likes of Obama makes sense to them now.

These jokers don't even know what's in their own self-interest, much less yours. Trusting them with your money is like trusting Bill Clinton to babysit your underage niece.

A Piece of History

Oh, brother, what I could do with that title up top. But here is is used in the more pedagogical bent, so say -- educational vein, for those among you who would want to deep space "9" into the mind of the agent.

That phrase is used to conjure an image of respect and awe when selling a property. An old property. I must admit, that I've never used said jargon as it bespeaks to me the true nature of the structure, by way of reading between the lines: -- read a piece of S&%T; as in HORSE, or DOG or BULL. Not that new construction is any better; those cardboard shacks painted neutral tan and "staged" like a Saturn V rocket (1969 Moon launch) are just as worthy of the fertilizer farm.

I prefer the non monikered home. As it were, the refuse to submit to age discrimination and call a house by its qualities, and not make issue of age. Save the age for the wifey...you know, ol' bat, ol' battleax ol' buzzard...

Looking for Home in All the Wrong Places

They were living in one town and searching that town on the internet. They were looking in the WRONG place.

Then they came to me. I assessed their needs and wants for size, school, location and budget.

Then I brought them to this home. "It looks like a little bed and breakfast!” they cried, delirious with joy. We "Closed" in 30 Days.

Their daily commute to work is cut from 45 minutes DOWN to 10. And they have the perfect home. I took them to the RIGHT place.

That is "StreetSmarts"!
If you are thinking of SELLING, call me. Buyers are fumbling in a virtual world, but your home is in a REAL world. I'll help them find you. I'll bring them to your door.
If you are BUYING, come talk to me. Your home is waiting; you are just not looking in the RIGHT place.
Put "StreetSmarts" to work for you. Let me go to work for you.

It takes a lot more than...

It takes A LOT MORE than SNAPSHOTS and OPEN HOUSES and Internet exposure to sell your home. In fact, studies show that prospective buyers use pictures, open houses and the Internet to find houses they DO NOT want to buy.

That’s where my “StreetSmarts” comes in FOR YOU. I spend three hours a day, 6 days a week, 50 weeks a year on the sidewalks, roads and by-ways of our town. I meet face-to-face with folks in their apartments and houses. I do not wait for them to come to my listings. I bring my listings and YOUR HOME to them. I’ve placed 5 first time buyers in their homes in the last 2 months. My contacts are waiting for your home.

LIST YOUR HOME WITH ME. Let me put YOUR HOME in my pocket and walk it around town. You’ll be happy with the results. All Real Estate is, in the final analysis, LOCAL, and if a picture is worth a thousand words, then a good pair of walking shoes and a solid hand shake are worth an album of snapshots.

Call me, email me, or stop by and let me get to your forYou.

I am Century 21 COMMONWEALTH. What may I do for you, today?

Ad Copy

When they write -- they mean...

Old charmer - an old and ugly house
Stunning house - the house is not ugly
Tudor - two bedrooms are in the attic which is not insulated; very hot in summer and very cold in winter
Cape Cod - styled after Third World slum dwellings
Sunny corner lot - noisy intersection of two busy streets
Easy freeway access - noisy arterial street close to freeway
Low maintenance lot - no yard; the kids will have to play in the street
Meticulously maintained in the original condition - the appliances are 50 years old
Ready to remodel - the house is about to collapse; you will have to invest twice the asking price in remodel before you can move in
Newly remodeled kitchen - 50-year old cabinetry and faucets have been replaced with cheap modern equivalents
Ready to move in - the interior has been painted with one coat of cheap paint
Desirable neighborhood - this little house is extravagantly overpriced because the neighborhood has a snobbish reputation
1 car garage - you can drive your Ford Escort into the garage but there is no room to open the door
In-city living - it is not safe to walk in this neighborhood after dark
Recreation room with wet bar - basement has been painted and has a faucet
Large family room - large basement
Bedroom in basement - basement has a 1′ by 2′ window
Lots of storage space - basement too small to be called a family room
Partial mountain view - you can see the tip of Mt. Olympus if you climb the roof
Territorial view - good view of your neighbor’s bedroom window
Build sweat equity - the house is not inhabitable
Storybook - the house is old and the roof is not flat
Efficiently designed kitchen - the kitchen is too small to fit two people at the same time
Seasonal creek - muddy ditch across the property
Usable land - all the trees are gone.
Doll-house - tiny place filled with ugly knick-knacks.
Country living - too far from anywhere to drive to work
Country in the city - a grotesquely overpriced large lot with a 2 bedroom house built before World War I
Cozy - not a single room could fit a full size bed
Three season sunroom - a small addition the owner did not have enough money to insulate
Close to all amenities - the backyard is a shopping mall parking
Beachfront property, complete remodeling in 1996, a steal at this asking price - hurricane Andrew motivated the remodeling; no hurricane insurance available, at any price
Must see inside - the outside is ugly
Motivated sellers - subtract 15% from the asking price
Easy to heat - see “cozy”
Wildlife nearby - children and pets get ticks and fleas
Near transportation - Amtrak train goes through the backyard, every 15 minutes, day and night
Pet friendly neighborhood - organic matter constantly deposited in the front lawn
Neighborhood watch - your next door neighbor has binoculars trained on your house
Just available - previous owner just died on the premises, hope you don’t believe in ghosts

Redirected

Usually I get a few call on Friday nights. A few folks think they can get a jump on the weekend home buying scene and they use the said prime time to call on homes. I love it.

Not this Friday last however. I wondered why. It was 08/08/08. Lucky numbers. Was it Kharma? Was it celebration of Little Hailey Hauer, born on that morning at 08:08 AM and weighing in at 8 pounds 8 ounces (metric nerds...eat your heart out)? Young Miss Hailey H. will no doubt figure out for herself that "H" is the 8th letter in the alphabet.

Was it John Edwards coming uhhhhh clean on his affair. That would have made for great Presidential fodder. Think of the headlines -- "EDWARDS ADMITS TO HAVING 'FIRST LADY OF THE NIGHT'"?

Whatever, no calls. It was, after much thought, simply the Olympics kicking in. Lots of fireworks and people running around in funny colors -- The Sports World morphs into Disney. Beach Volleyball as a Gold medal sport uh-huh yeah (women jumping around in bikinis -- oh yes).

I took the time off from the phones. Watched the History Channel.

Today is back to business. 8 is lucky, they say (except in billiards). I've got a great house numbered 88. Take your Olympic endorsement cash and use it for the Down Payment.

From the Home Front

Two stories crossed the wires that, when combined, offer a tantalizing look at what? the markets?

The first is Viagra -- that, yes, it may actually work for women! Now, there is a caveat -- anything with women has to have a caveat. It may only work with women who are on anti-depressant drugs, so I reckon, there is no caveat after all -- they are all on A-DCs.

The second is that women are leaving the workforce to become, dare I say it Stay-at-home-moms? No doubt there will be some more business like token for the spot on a kin with "multi lateral business development manager in charge of base operations" but that is another story.

Put those two dittys together, and more babies cannot be far off. Who says the housing bust is a bust! Dad will soon be working overtime to support the new ranch Mrs. Postpartum is crying for...

Unless...there is another scenario. The world is already full of housewives clipping information form one site and pasting into their own as "CONTENT" on their BLOGS. The term blog. I believe is named for them -- Bored, Lazy, Overweight, Gals. There are a gajillion of them out there, but there is room for a few thousand more whining hags like "One Chic Mama". Oh puhleeze, goils!!! Can't you just sit home and wash the diapers? No one really wants to know about this over priced gizmo or that unnecessary junk that hubby will have to buy for you.

Save the money, you are going to need it for the down-payment...or the Viagra.

Stah-bux, the Starbucks mystique

As news goes, one could do worse than the on-going dribble about the closing of Starbucks slop shops around the country. So it is that in my little corner of the world, the front page story in the local rag this Friday last was about the storm and stress ("Sturm und Drang" for you Beethoven and Schiller lovers) over the possible closing of the local bean brothel on Mount Auburn Street. You know the place -- it is where they have funny names for the coffee -- tall, taller, tallest or something like that.

Now, mind you, I've got nothing against bean counters, or businesses that make their customers bend over for it before they get their coffee, but I do wonder about the Hub-hub of it all.

And here is where it all falls into place. Let's jump shop and cut off across the street to the Girl Scout who has her little stand set up. She's selling lemonade. And that is what Starbucks is doing -- if you are stuck with a lemon, make lemonade.

Starbucks, itself is putting this into the news (making lemonade). Other companies cringe at the thought of this being on the news, but not our Green Joe. Taking its lead from the Happy Hooker and embracing the philosophy that ALL publicity is good, Starbucks puts out bulletins and updates on the progress of the closes. The web site has up to the minute flashes on the situation and you can download a list. It's a CNN! Coffee Nerd Network.

How will all this play out? It will all be fine. The closings on the list (I looked) have pattern: however unscientific, and with the notable exception of (you guessed it, Cambridge MA), seem to be in areas of hairy women -- Louisiana has a lot, the untamed areas of Florida (where Mah-Jong is as yet not played), the Mamie Yokum climes of Tennessee. You get the stringy picture I am sure.

As far as Cambridge goes, well, the thunder thighed daughters of Zeus rollerblading down Brattle Street in tank tops that exhibit the truth that they each have the "armpits of a champion" will have their Starbucks. Thankfully I won't be there when they bend over. I'll be at Arum's (on Trapelo). The cup ain't fancy, but at least I know what to call the stuff.

And, of course, if your still need your Starbucks, then I can tell you I know of one shop that is not closing and there IS A HOUSE AROUND THE CORNER from it FOR SALE!

Mean Streets

We are waiting for the buyer's agent. I am here. I am here with the buyer. I am here at my listing, ready to show the listing because the buyer came here to meet his agent, and the agent is not here. The buyer is angry. I am here because I got a call:

"I called your number on the sign. She does this all the time. You betta get here if you want to sell this dump"

I tell him that I cannot do anything. I tell him he has a written agreement. I tell him about a little ditty in our business called "Procuring cause".

He tells me fine. Get here anyway. I come.

"You wanna pay her a commission for doing %$&@#, THAT IS OK. I want to see the house."

By now SHE has arrived. "Hi," she blurbs. "My 'GARMIN' was wacky, I named the route but I used an old name and it started to take me to the home on the other route and then I turned but I went the..." and that is your answer.

Readers --- IF YOUR AGENT NEEDS A GPS DEVICE TO FIND HER WAY AROUND YOUR MARKET, THEN GET ANOTHER AGENT!

An agent who does not know the streets, cannot know the houses, or for that matter, the dirt under them. Licensed Housewives who cannot negotiate a road two stop lights from their Betty Crocker kitchens are not AGENTS -- they are, well housewives with business cards that hubby bought for them.

Agents who don't know the left from the right, are not agents -- they are the lowest of the low -- they are used house salesmen.

Obama for Real Estate Agent?

It is a good thing the up top listed political flak is running for President and not for the more lofty position of Agent. If he would to run for Agent, he would most likely lose his license for his most recent actions.

It seems the inexperienced poppin-jay has told prospective cash cows that they could win a chance to be on the podium when he accepts his nomination. Pony up $5.00 and you could be up their smelling the snake's Aqua Velva. It works, essentially, like any automatically entered contest that Pepsi, Coke, or Trojan condoms throws upon the consumer. Except in the world of Obama-rama (campaign laws) such giveaways are illegal. One cannot be given compensation for kindling any sort of a donation to a flak's campaign -- poor baby, he don' know that yet.

Real Estate agents know what can happen in their world if they do that. They be put outta this line of work. Call it what you like, but you cannot give out gift incentives to buy. Whatever cash or kind is transpiring, must be written into the Purchase and Sale Agreement.

Not so for the Presumptive two face and November Also ran (although the fake polls tell otherwise). Just imagine. If 5 bucks gets you on the podium, 10 bills should get you a chance at an ambassadorship to a "STAN" country (Afghanistan, Turkistan). 50 should pull down a scratch ticket to an "IA" (India, Bulgaria). A full grand should get you one of the cool countries where folks know how to use toilet bowls.

Me? I'll be the one and only vote Senator McCain gets from Massachusetts. I won't blow a grand on a chance at a cool ambassadorship...after all, I just remodeled my privy and have a new toilet.

And a repeat of Last Year's educational post

We all know those words, but but herewith is a bit of elaboration...I bet ya did not know the inspiring scholors of the founding fathers were real estate brokers!

The phrase is based on the writings of John Locke, who expressed a similar concept of "life, liberty, and estate (or property)". While Locke said that "no one ought to harm another in his life, health, liberty, or possessions", Adam Smith coined the phrase "life, liberty, and the pursuit of property". The expression "pursuit of happiness" was coined by Dr. Samuel Johnson in his 1759 novel Rasselas.

Written by Thomas Jefferson, the words in the Declaration were a departure from the orthodoxy of Locke and Smith. Locke's phrase was a list of property rights a government should guarantee its people; Jefferson's list, on the other hand, covers a much broader spectrum of rights, possibly including the guarantees of the Bill of Rights such as free speech and a fair trial. The change was not explained during Jefferson's life, so beyond this, one can only speculate about its meaning. This tripartite motto is comparable to "liberté, égalité, fraternité" (liberty, equality, fraternity) in France or "peace, order and good government" in Canada.

The phrase can also be found in Chapter III, Article 13 of the 1947 Constitution of Japan.

An alternative phrase "life, liberty and property", is found in the Declaration of Colonial Rights, a resolution of the First Continental Congress.

Happy Fourth to all. Call me at the office (see the right side of your screen) if you want to make yourself happy by buying a property (it'll make me happy too!).

Some Things You Do Not Need to Know About...

...Revere.

Since my horse is running there today at Suffolk Downs...(yes, he does have an independance day-like name)...it behooves (get it) me to drop off some trivia about Revere...

Some of my favorite locals include...

Charles Stuart, alleged murderer in an infamous case
Horatio Alger, author
Freddy "Boom Boom" Cannon, Singer-Songwriter-Guitarist
Tony Conigliaro, professional baseball player
Jack Haley, actor, most notable for his appearance as The Tin Man in The Wizard of Oz
Norman Greenbaum, musician
Earl Dodge, Prohibition Party politician (born in Revere)
Joe Rogan prominent stand up comedian and host of NBC's "Fear Factor"

Some cool tidbits:
Maggio's is there.
Chelsea Creek was the site of the Revolutionary War's first naval battle in 1775.
Bell Isle Marsh Reservation is the largest surviving salt marsh in Boston Harbor. It showcases plants and wildlife now rare to the Metropolitan area.
Next Stop Wonderland was filmed here.
Revere was mentioned in the novel Cell by Stephen King.

And yes, I did train there and yes I did fight there when they set up a ring at Wonderland for Friday night fights

What Goes Around, Comes Around (or Circle of LIfe)

This right out of CNN. Didn't we ALL want to work from home?....

ROSWELL, Georgia (CNN) -- More than a decade after the Internet allowed millions of people to work at home, the next phase of telecommuting involves, well, not working at home.


Web developer Toby Ho, left, has joined a coworking group called "Jelly" in Roswell, Georgia.

1 of 4 Organized "coworking" -- the concept of working solo alongside like-minded independents -- has spread to dozens of cities.

The irony of coworking isn't lost on organizers, including Kevin Bachman, who set up a group north of Atlanta as part of an informal Web-based network called Jelly.

"The reason people work alone, is because they're looking for freedom," said Bachman, a 34-year-old Web developer who telecommutes part time. "It may be ironic that you crave isolation, but you also want to be socially interactive with others like you." See how Jelly works together »

Once a month, Bachman's group takes over a room provided by Tony's American Grille & Tap. A handful of home-based Internet workers hunch over laptops writing code, tweaking administration systems or enhancing databases.

"It's a great way to get out of your bubble," said Bachman.

Tony's doubles as a neighborhood sports bar at night, complete with a "beer pong" game table and projection TVs. But during the day, this location takes on a more business-like tone as colleagues help each other work, said Randall, a freelance database programmer who wouldn't give his last name.

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"I've probably gotten some tips just today from people that had the same problems that I've had," he said. "So, all-in-all it's been a productive day and it's not even 2 o'clock yet."

Coworking also provides an oasis for nomadic coffee-bar campers who struggle to collaborate among a random crowd.

"Starbucks was a place to get out of the house and be around other people," said Sherry Heyl, a Jelly coworker and home-based social media consultant. "But you can't turn to the person next to you at Starbucks and say, 'Can you look at this proposal and tell me if it looks all right or check it for typos?'"

Coworking is gaining popularity as number of single-person businesses in the United States is skyrocketing.

The nation added nearly 4 million one-person businesses between 2000 and 2005, according to the U.S. Census Bureau.

Back in 2005, Web programmer Javan Makhmali said he was "missing the work atmosphere to get me in the zone -- to get work done" at his home office in Portland, Oregon. So he and a few friends created a coworking cooperative and called it -- appropriately -- Less Distracted. Watch more about how coworking works »

"We found a space in a cool warehouse, put an ad on craigslist and Less Distracted was pretty much born like that," said Makhmali, a 27-year-old computer programmer.

By early 2006, a 1,500 square foot space in the North Coast Seed building was filled with more than a dozen other programmers and designers looking to break out of their home offices.

In exchange for a $100 deposit and $150 per month for utilities, tenants get 24/7 use of DSL Internet, Wi-Fi, a kitchenette and a hang-out area with couches for meetings and relaxing.

The Less Distracted Web site describes it as "your own space that's not in your living room and certainly not a cube."

Ryan Tyler, another original tenant, said coworking made a huge improvement in his productivity, while allowing him to make quite a few friends and great business contacts through the office.

The idea that home-based workers are returning to officelike environments isn't surprising to close followers of the commercial real estate business.

"For at least 50 years 'experts' have said technology will eliminate office demand," said real estate consultant Prof. Peter Linneman of the Wharton School of Business. "But the evidence clearly shows that we use ever more office space as technology advances."

Coworking suits the lifestyle of Portland's many free-spirited self-employed workers, said 39-year-old Tracey Weidner, an independent private investigator who's been managing Less Distracted for about a year. "It won't replace the corporate mentality of a traditional office, but it fills a need."

Makhmali displayed some of that free-spiritedness when he started holding movie screenings on the warehouse's seventh-floor roof. Safety concerns prompted the building's owner to close down the makeshift theater.

"The working vibe was something that we all created just by being there," said Makhmali, who has since moved to California. "We all encouraged each other to stay focused and keep working."


But Makhmali's Less Distracted experience didn't create a permanent convert to coworking. These days, instead of coworking, he's simply working.

Makhmail said it's "a real job," programming for an education-based Los Angeles software firm ... in the company's office.

CNN's Curt Merrill contributed to this report

And now a word from Jim Brown Of First Investors (Belmont)

Mortgage rates continue to stay in the 6.50% range. The 10 year bond has dropped
but the rates do not appear to be following. The good news is that many lenders no longer have declining markets in Massachusetts. The 97% single family program is now a program we can use. The banks continue to tighten credit but the activity in the market has increased. I don't think the increase in rates has hurt the market. There is some MHFA funding available for first time and low income borrowers with the rate being about 6.00%.

Just wanted to tell everyone to keep the community homebuyer program in minds which provides a lower downpayment and easier loan qualifications. We have a program

For:
1 Unit 97% LTV
2 Unit 95% LTV
3 Unit 90% LTV
4 Unit 90% LTV

The max combined income is $108,000.00. This is a great program for first time homebuyers.
CONFORMING
30 YEAR FIXED
6.500% 0 Point
6.000 % 2 Points
15 YEAR FIXED
6.125% 0 Point
5.625% 2 Points
Conventional 5/1 ARM
6.375% 0 Points
5.500% 2 Points
JUMBO
30 YEAR FIXED
6.750% 0 Points
7/1 YEAR ARM
6.375% 0 Points
5.875% 1 Point
5/1 YEAR ARM

6.250% 0 Points
5.750% 2 Points

Jim Brown
President
First Investors Mortgage Inc.
MB0063
24 Trapelo Road
617.484.8383

Deja Vu

Sometimes it hits. You think you've seen this or that before, but you cannot place the spot. Deja-vu has a reasonable explanation. The mind has jumbled memories together. It picks and chooses that which comes close to the mark. It then spits out what it wants to and tells you something not quite right. So it is with this home. I have seen it before...I know it, but where?

Then it all hits. National Geographic last week. An old copy from the basement. Did I not see a face like that in that article on Easter Island?

The Face in the "Crow"ed

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 the name, "Oh wait!! here's something I want you to know", and I jot it down. MY cards are saved.

Don't get me wrong...MY mug appears on my lisitng sheets, in ads, internet and other places. But it comes with all the grease paint removed. You can see it all, the broken nose, crushed ear, fractured jaw. It gives me character and folks do recognize me on the street. Not that I look like Quasimodo, or anything, but mind you if I did, I'd subdivide the cathedral and go "condo" with it.

Retirement

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 gainful employment has so much chock full kibitzing and noshing and just all around social buitterflying. Maybe being a Mayor, but there is only one per city of those, so the waiting list is too long. I would stick to the Real Estate and not wait for the mayor spot...afterall after retirement comes the final real estate deal, and I CAN wait on that.

And Now a Word from Jim Brown of First Investors (Belmont)

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 should
bring 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 fixed
rates. 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 which
provides a lower downpayment and easier loan qualifications. We have a program
For:
1 Unit 97% LTV
2 Unit 97% LTV
3 Unit 95% LTV
4 Unit 90% LTV
The max combined income is $108,000.00. This is a great program for first time homebuyers.
CONFORMING
30 YEAR FIXED
6.000% 0 Point
5.500 % 2 Points
15 YEAR FIXED
5.625% 0 Point
5.125% 2 Points

Conventional 5/1 ARM
5.375% 0 Points
4.500% 2 Points
JUMBO
30 YEAR FIXED
6.375% 0 Points
7/1 YEAR ARM
5.875% 0 Points
5.375% 1 Point
5/1 YEAR ARM
5.625% 0 Points
5.125% 2 Points
GIVE JIM a call with questions, scenerios, or pre-approvals
Jim Brown
President
First Investors Mortgage Inc.
MB0063
24 Trapelo Road
Belmont, Ma. 02478
Work # 617-484-8383
Fax# 617-489-4976
Email: jimbrown@firstinvestorsmortgage.net

Pass the Puck

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

Living Quarters

I saw a "Utah" quarter this morning. It sends 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 has paid $1,000 a month (let us be generous and not factor rent increases) for those 9 years or $108,000 to "the Man". The "newby" buyer in 1999 paid 150,000 for his modest home. He pays 800 a month in a mortgage and 200 in taxes and insurance. He has paid $71,000 in interest and $21,000 in taxes. That is $13,000 in tax savings (money not given to Uncle Sam). He has paid himself! (yes!) $15,000 in the form of the principle on the loan. And -- his property is worth about 25% more, or, conservatively, $35,000 more.

The numbers speak for themselves. I invite you to speculate in YOUR corner of the world. In my corner, The renter has spent 108k; the owner has lived in the home and is -- balance "sheetwise" -- $63,000 wealthier for the same cash out efforts.

That's 252,000 quarters. Now, if you can find a "Hawaii" in there, I'll be happy to trade you a "Utah".

Active Interests

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 the fact that she is 7th grade age? Other than the fact that she costs me $2,000 A WEEK to keep in her training? Other than the fact that I DO believe she will be the next great figure skater to come out of these United States? Other than the fact that she has an outer “worldiness” decades beyond her pre-teen years, I know nothing about her.

So came the litany of familiar questions: how long has she been skating, howmanyhoursdoessheskate is shehomeschooled and blahblahblah and how did they find her for the HBO thing and the NBC thing and …

To all of it, I am, evasive – protective of my investment -- but I did answer 2 questions. Her name means little flower in some Asian flavor and she plays the violin, and yes, to ramble on, I bought her the violins from 1/8 size up to full.

What does this all have to do with Real Estate? Well, perhaps it is the REAL part. Life goes on for someone – a chance I never had, or perhaps a reflection of things taken away, and I am grateful she is allowing me to come along for the ride even if I must pay the very expensive million dollar ticket.

I Remember You -- Redux

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 protection for my ribs.
I circle; he throws a right jab to my left eye and connects, but I uppercut underneath his punch and hit his chin.
He steps back, then comes up for another right jab, but I quickly step right and cross with a right. I hit him on the back of the ear and he falls forward. I go to a neutral corner, and he takes the count to 8.
He comes out and tries to right jab the body again, and this time I right cross him again and hit the cheekbone. He trips on his own foot but he is up before the count starts. He is hopping mad. He is bleeding from inside his mouth. I can tell because he is swallowing something.
He is up, I left cross him and he body shots me in my open rib cage. My breath seizes, but I have one chance to cross him and I hit his cheekbone, again. He goes flat down. I move to the neutral and the count begins, but at 5, I, too melt down, hanging on the rails. The ref is double counting, "Junior 6, Al 1, Junior 7, Al 2, Junior 8..." and I know I will not be getting up. I cannot breath. Junior is trying to move, to roll over and lift up to stop his count. It is a long three seconds. But he cannot do it. His count ends at 10. And my count stopped before 5.

There it is. And now for the one final piece -- real estate is my business. It is the business I will share with you. Why I wore " C K " on my trunks for those 51 fights, is also my business...and will remain my business. Now let's do an open house, shall we?

I remember you

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 of 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 arrangements, let me know -- I will be glad to help them...

I hope she remembers me.

Disguise

"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 one 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 sellers 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 paint 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

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 Fools 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 given it to you, yet"

"Yes you did on the phone...It was 'six-one-seven'"

Knowing now that my land-line-correspondent is not playing with the full 52, I carefully tread. Delicate, Gentle as a summer wind. "That is my AREA CODE and phone number! Not the dollar number."

To wit, I forward to him the factoid of his home's value. He is crushed. He is deflated. He's decided to wait out the storm and see what next season will bring. In the meantime, I suggested to him he should call me in my Winchester office. My number there is 7-8-1... He can make a quick 160 grand!

Is it Broker or is it.....English, again

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 logo is earned and worthy of your attention. Your agent may not be able to sell your house, but at least they will get the spelling right.

Broken (or is it Broker) English Redux

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

Valentine's Day Massacre

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!

JuMMMMBOOHHH

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 $518,375
Barnstable will go to 512,500
Nantucket & Dukes Counties will go to 477,355
All others to stay the same—i.e. $417,000

Under Agreement in 11 Days

Two-Family
Under Agreement in Under 11 Days!!
What May I Do For You?
Al. Gutterman
Century 21 Commonwealth
617.470.8085
Al.Gutterman@CommonMoves.com

The STIMULUS PACKAGE of President Bush

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. This is great news if you're planning to buy vehicles or equipment for your business, or even to renovate business premises.

And Now a Word from Jim Brown of FIRST INVESTORS, Belmont (MA)

Although the news and media keep reporting on the Fed lowering the discount
rate, 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 have
come back in play that 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 90% LTV
The 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% 2 Points
15 YEAR FIXED
5.25% 0 Points
4.75% 2 Point
JUMBO
30 YEAR FIXED
6.125% 0 Points
7/1 YEAR ARM
5.375% 0 Points
5.125% 1 Point
Give us a call with questions, scenerios, or pre-approvals.
Jim
Jim Brown
President
First Investors Mortgage Inc.
MB0063
24 Trapelo Road
Belmont, Ma. 02478
Work # 617-484-8383
Fax# 617-489-4976
Email: jimbrown@firstinvestorsmortgage.net

The Power of Positive Thinking

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

And now a Finance word from FIRST INVESTORS (Belmont, MA)

This from Jim Brown of First Investors Mortgage in Belmont (MA)617-484-8383 or
email: jimbrown@firstinvestorsmortgage.net

Although 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 90% LTV

The max combined income is $108,000.00. This is a great program
for first time homebuyers.

CONFORMING
30 YEAR FIXED

5.625% 0 Points
5.125% 2 Points

15 YEAR FIXED
5.125% 0 Points
4.500% 2 Points
JUMBO
30 YEAR FIXED
6.125% 0 Points


7/1 YEAR ARM
5.625% 0 Points
5.125% 1 Point

Give them a call with questions, scenerios, or pre-approvals
First Investors Mortgage Inc.
MB0063
24 Trapelo Road
Belmont, Ma. 02478
Work # 617-484-8383
Fax# 617-489-4976
Email: jimbrown@firstinvestorsmortgage.net

Declining Markets

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.

The "Grass" is ever greener...

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 our way. There are better homes in the town, you know...the greener grass thing -- especially because in this house, the grass gets smoked.

Zoom-Baah, the Magic Bus

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 Times

A 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 foreclosures and weeds sprout in the yards of abandoned homes, their tune has changed.

"We're bringing in homeowners to get the grass green again," he said.

As the brightly colored buses recently rolled through a subdivision dotted with "For sale" signs, a couple who were stringing up Christmas lights waved. The bargain hunters aboard waved back. Dias, who said his business was booming, offered a friendly beep.

"At this point, I wish the foreclosures would dry up. We could use an end to the free fall," Dias said, adding that the rate-freeze plan President Bush recently announced would help, even if it reached only a fraction of struggling homeowners.

Dias' home tour is just one more high-profile sign of the mortgage crisis that has hit the Stockton area particularly hard. RealtyTrac, a real estate data firm, has pegged Stockton as the U.S. city with the highest rate of foreclosure filings, edging out even such troubled metropolitan areas as Detroit.

Other experts question the significance of such conclusions, pointing out that the company counts delinquency notices for late payments as well as actual foreclosures. Even so, nobody doubts that Stockton and the rest of the Central Valley have been severely jolted. By October, foreclosures in Stockton's San Joaquin County were more than eight times last year's levels, outpacing the state's increase by 41 percent, according to DataQuick, a La Jolla-based information service.

At the waterfront Stockton Arena on Dec. 1, about 500 anxious residents lined up at a foreclosure workshop to see loan counselors from government agencies and nonprofits. Clutching bank documents, they wanted to know how to short-circuit the foreclosures they saw looming, how to negotiate for freezes in their adjustable interest rates, how to buy some time.

Some recounted loan officers having urged them to inflate their incomes to qualify for bigger loans. Others said they had snagged 100-percent loans but had unwittingly agreed to double-digit interest rates and pre-payment penalties as high as $10,000.

Pete Ponce de Leon, a 50-year-old machinist, said he and his wife were barely keeping up with their monthly mortgage payments, which shot up from $1,700 a year ago to $2,500 now. He said he cashed in two IRAs, sold his tools, sold a truck and was bracing for another rate increase this month. Along the way, he lost his job, and his lender refused to cut him a break.

"Why don't they just screw us all at once instead of a little at a time?" said Ponce de Leon, who has found another job and hopes to renegotiate his mortgage.

Like homes almost everywhere else in California, the Ponce de Leons' lost value and their interest rate kept going up.

As more homes entered foreclosure, more neighborhoods were riddled with problem properties - some in disrepair because of their owners' financial problems, a few boarded up to deter squatters.

Median home prices in the county tumbled from a high of $425,000 in July 2006 to $319,000 in October. Last summer, San Joaquin County officials sent out crews to dump chemicals and larvae-eating fish into the stagnant water of abandoned swimming pools, where mosquitoes were breeding.

"The mortgage crisis was, in a way, becoming a public health crisis," said Rep. Dennis Cardoza, D-Merced, who co-sponsored the foreclosure workshop. "It's one more symptom of a sick situation."

In some ways, the Stockton area's mortgage crisis has played out much like that in Southern California's "Inland Empire." In both places, commuters from big metropolitan areas were finding homes they could afford - if barely - in vast, recently built tracts that could be more than a two-hour drive from their jobs. Little wonder: Although San Joaquin County home prices in recent years soared from the 2000 median of $133,000, they still drew thousands of people squeezed out of the Bay Area, where a median-priced home now goes for more than $810,000, according to the California Association of Realtors.

Puppy Love

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 must admit, I've seen something NEW...never seen before.

"Four of them already," she said, "More coming by the looks of her. Come."

Readers, have you guessed? Her dog, it seems, no longer "virgo intacta" was delivering her issue on a pile of newspapers in a box in the kitchen. As the kidney bean lumps of skin emerged and slipped about, I thought about the buyers coming in a few minutes, sensed the oozes and odors of "Mutt-making" and ruminated...

Yes -- my game plan -- well lived in house, full of life, a free puppy with every offer...

Declining Markets and Fannie Mae

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.com


Maximum Financing in Declining Markets:
Fannie Mae Announcement 07-22

Marianne 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 addition, the appraiser must provide three comparable sales that have closed within the last six months to support the property value. This policy update is applicable to all conventional conforming and jumbo loans, including Home Equity Lines of Credit and Closed End Seconds only. FHA and VA products are excluded from this new policy.
Many Massachusetts communities have been included
in this policy effective 1-11- 2008

Example for how LTV may be impacted:

Example 1 - Purchase transaction of a primary residence at a 100% LTV/CLTV, which is also at the maximum allowable LTV for the selected product. If the subject property is identified as being located in a declining market, the maximum financing would be restricted to a 95% LTV/CLTV.

Example 2 - Purchase transaction of an investment property at a 72% LTV and selected product allows for a maximum LTV/CLTV of 75%. If the subject property is identified as being located in a declining market, the maximum financing would be restricted to a 70% LTV/CLTV.
The subject property will be identified as being located in a declining market if any of the following criteria apply:
· The Appraiser identifies the property as being located in a declining market.
· The automated underwriting system identifies the property as being located in an area of declining home values.
· The property is identified as being located in a declining market via the Declining Market Indicator tool internally at Century 21 Mortgage.
CALL ME FOR INFORMATION ON ANY PARTICULAR TOWN 617.470.8085 or email me al.gutterman@commonmoves.com