Real Estate is Fun

Flat lined in Belmont (MA)

2011-12-30T08:18:00.006-05:00

At the risk of jumping the gun, what with 8 more business HOURS left to this pale of a year of 2011, we can report that sales in Belmont were flat compared to 2010. So far for 2011, 146 homes changed hands according to MLS. This compares out to 143 homes for the previous year. Flat yes, but to dig a bit deeper shows a bit of contour to the Real Estate terrain...

Days on market went form 78 days in 2010 down to a stealthy 58 in 2011. Average price rose from 780k to 804k. It would seem, from the numbers view at least, that we had somewhat of a bidding war on our little hands -- a little war, anyway. Buyers were there -- sellers were not...when someone did put the "chalet" on the market, it went.

Now let us not jump the gun in the other direction (read that as shoot ourselves in the foot -- or face). Buyers were not throwing themselves at anything and everything -- they were NOT willing to die by the sword if they failed to sign a Purchase and Sale. In fact, they kept their collective cool and allowed 42 listings to EXPIRE (no sale) in 2011. In 2010, they refused to ink deals on 35 homes.

What does it all mean -- not much, I should hazard. Flat sales in a bad market can be great, but it should be reminded at many times, flat surfaces are, indeed, as slippery as a slippery slope.

Open House???

2011-10-26T07:07:00.002-04:00

It is an Open House...I am down in the basement with a rather attentive couple. They are asking this and they are asking that and I am smelling "Offer to Purchase". They head out the basement door to talk things over and I head back upstairs to attend to the footfalls of other prospective buyers. I hazard not more than a small glance at the old woman sitting serenly at the kitchen table. I do notice, however, that she has a bemused calm about her, as though the years between the gentile time of her day and the harsh electronic nonsense of today have filled her not with a sense of doom, but of blissful longing for a simpler time.

Great, I say to myself. Perchance she will have a good word with one of the other prospects -- the one with whom she came. She'll say something about how the house glistens with the charm of another time and she would happily bequest a chunk of her estate to the purchase of this property.

I spend a few minutes in this agent reverie, and even pass her again. I proffer her a smile and a "How you do?"

"Oh, fine," she says, "A cup of tea would be nice about now."

I smile and joke, "I'll see what I can do, but right now I MUST excuse myself to attend business."

"You're excused," she says.

A few moments pass, and, inexplicably, my Open House is empty. I catch my breath to prepare for another wave -- the final 15 minutes. I sigh and think about how hard we sales folk do work -- sometimes. I begin to expend air into another sigh, when that mournful moan is cut short by one from another set of vocal chords...coming from the KITCHEN.

It is the serene old lady. Sitting there, calm as ever.

"Is there something I can do for you?" I ask her.

"That cup of tea you mentioned would be nice."

"Are you with someone."

"Heaven's no. I walked here all alone. When will Ida be coming home?"

At this I quake, for there is no Ida in this house, and I duly report this to her.

"Oh!", she exclaims, "I must have walked into the wrong house!" and she gets up to head to the door rattling off a litany of apologies the length of which you would expect to hear from a "Perp" who just got nailed stealing the Police Commissioner's car.

I tell her it is all right. I close up the house. I offer her a ride. She accepts. My reveries of a fat commission check are put on hold, and as I drive her down the road, she breaks me from my dismal state when she asks, "Tell me young man, that Green place that is in the center of town, that Starbucks,...do you think they might have a cup of tea in there for me?...And you?

The Grass is Always "Greener" in the Kid's Room

2011-09-26T08:07:00.006-04:00

Ok, so it is fall and we are not into thinking of grass but, it appears, there is more to grass than a trip to Home Depot

The other day, I take a fine cusotmer to a modest home that is, to say the least, not ready to be presented

Really not ready for showing: clothes strewn about, cereal in the sink -- 2 bedrooms that are not up to standards generally accepted today (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 standard 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.

What to do with the underwater house...

2011-08-11T06:26:00.002-04:00

...Do you have that lot in the swamp, that piece on the rocky slope that cannot be attained for six months during the ice season, that Condo converted from a 2-Family? Well, there is something you can do! We'll get to that in a moment, but first we must introduce our inspiration.

These folks at this link are marketing a fun and educational (don't you hate that phrase? I think they use it for Chia Pets!) way to own Real Estate. You can buy a postage stamp size plot of land, have the deed, title, porperty tax liens and the whole 9 yards in any and every state. Be a Donald Trump! So the web site screams. Loads of fun for the kiddies. I can just picture the young lads and lassies throwing out their XBoxes for the chance to stare at a property deed all day. Wow! This is more fun than having a star named after you! (Talk about money for nothing!) Oh yes, my brother paid to have a star named after me. Never could find its twinkles in the heavens...must have gotton sucked into the same black hole that took my "Bro's" cash. But back to real estate.

So if you do have that swamp to sell, that rock, that desert, New Orleans, whatever, subdvide into postage stamps and market it as an educational experience.

The kids'll hate you for being a nerd, but the lawyers will love you for life.

When they write X, they really mean Y

2011-08-01T05:56:00.001-04:00

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

Location Location Location (or Strike 1, 2 3 "yer" out)

2011-07-28T06:31:00.002-04:00

Up top there is the hackneyed expression, dare we say Mantra of real estate folk. I've never used it myself, for it smacks of late night Real Estate infomercials, but here below is a tale of a small broker who learned the lesson of "location,location,location" the hard way.

The small broker operates out of her house, does, maybe one buyer rep transaction a year, mostly cajoled out of her bridge club or soccer mom connections. A nice little business.

In this particular case, our broker harrangued a friend for weeks about listing a house. The friend had, in passing, mentioned that they were going to sell, and our little broker sprung into action.

Bought a listing post, had a sign printed up, figured out how to do the boston.com internet thing.

The friend had intended to go to a big office to list her home, but, well, our little broker offered a deep discount on the commission, and she got the listing.

Gave her husband the signage and told him to get a rubber hammer and bang that sucker into the front yard of the house.

And our little broker is ready! The phone rings within an hour and our little broker is set with her appointment book. She takes the call:

"How may I help you?" she asks.

"You're the one who needs help," a disturbed voice wreaks, "What the hell is that crap doing in my yard?"

"Pardon?" our now timid little broker replies.

"The 'For Sale' sign, you dope! What the hell is that doing in front of my house. I'm not selling my home. Your sign is up in front of the wrong house."

Now our little broker is a bit flustered, but the selling instinct kicks in -- never let a prospect go before YOU go for the sell. "Well, since it is up," she asks, "are you interested in talking about selling? I am sure the home is lovely and will..."

At which point she is met with a tirade of words not meant for "the King's English."

She is told her sign was, of late, posted on Xxxxx Place. It may be found in the trash of the subject house on Xxxxx Place. And, of course, her friend's home is on Xxxxx STREET! Location, Location, Location.

One wonders what the husband ate for breakfast that morning,...or for that matter, what he ate for dinner that night.

"Gang Busting" Agent is Just Gonna Get BUSTED

2011-07-27T11:08:00.005-04:00

An acquaintance of mine brought to my attention an agent who is, I was assured, a powerhouse on the south shore, a veritable ball of energy and top producer:

“You know what her slogan is?” my compatriot opined.

“Nope,” I say with naught hint of slogan in mind.

“It is, get this…’I’LL SELL IT IN ONE DAY' ”, that’s what she tells people, and she is going gangbusters!”

“Wow I say,” and I am thinking – yikes! Is this agent stupid or what? Or maybe she does sell ‘em in 1 day, in which case she is not doing her clients any good, ‘cause to do that, ya gotta be dumping properties on the market, not pricing them properly!.

I looked at her “1 day” progress and it appears that the “gangs” she is busting are little gangs (I guess Hell’s Angels, the Tong, and the Winter Hill Boys are out of her market area). She has 3 listings – they are active; one has been active for 100 days. The ONE listing she HAS sold was on market for 164 DAYS (maybe she sells them in her dreams every night and does not remember to wake up!).

To her credit, she is party to another transaction – she was a buyer rep on a condo that was on market for 81 days. So … she has collected paychecks on TWO sales in the first 7 months of 2011 (2 condos; one for 200,000; the other for 329,000 – gang busters or ghost busters???).

But all this is not the issue: the issue that chokes me is that phrase “I'll sell it in ONE day.”

I asked my friend about that -- what if she does not off load in ONE day?: “Well,” I was told, “She says to them that she tried. She is working hard and it is not like she is doing anything wrong or illegal; she tried in good faith to do it.” And my heart goes BLIP!

I should suffer this agent to take a gander at Grynowski v Silvia, (1994 Mass. App. Div 173) before she goes around making “good faith” claims upon which she cannot deliver.

To quote Grynowski as it applies to Consumer Protection Laws here in Massachusetts, 93A (Consumer Protection Law) “imposes responsibility for false statements made in good faith. The broker [sic] can obtain no refuge from liability because of the statement being made innocently on her part.”

This little “gang buster” is attempting to induce sellers to list with her by using a bold and audacious claim. What happens when she does not deliver (and she has NEVER sold anything in 1 day)? What ancillary damages did her irresponsible slogan precipitate? What damage was caused to that owner whose condo languished on market for 164 days? These are great questions, and fairly well cover fiduciary responsibility, ethics and just plain common sense and honesty.

I am confident that NO agent or broker in my organization, COLDWELL BANKER, would spew out such a quantifier and then smile off the failure with an “I tried”. I am relieved that she and I do not share the same logo on our business cards.

And one thing is clear: she may be trying to go gangbusters, but if she keeps this chicanery up, she’s just going to get BUSTED.

Cutting the Numbers Down to Size 1st half year Belmont (MA)

2011-07-11T08:29:00.003-04:00

As soon as all the brokers come back from vacation, there will be heard out of them such a whoop and holler in Belmont over the super duper sales numbers for the first half of 2011. According to MLS, the average price of a single family home that sold in the first half of 2011 ROSE about $130,000 over the $735,883 set in 2010 (for the same period). That ought to pay for a few “Cape Codders” on a Thursday night!…but hold it right there…

Those numbers, “ya see” were propelled through the roof by 4 sales of homes that clocked out at over $2 Million each – 2 of them for WELL over 2 Mil. In 2010, one home went for the milestone, barely reaching the bar and selling out at $2,001,000. Pull out those sales, and you have a very different story.

Looking at the mainstay of real estate, the 3 Bedroom home, we can get a clearer picture: in 2010, the average a sales price for 3 BR spreads was $658,110; in 2011, the average was $657,328 – down a tad and a different story from what the tabloids will tell you.

Aberration you say, perhaps (not!).

Looking at condos we see an even bigger spread. Average price for all condos ROSE from $469k in 2010 to $541k in 2011 (wow). Yet the skewers were there too, all over the new Cottage Area, where condos were selling to the Mitt Romneys of the world for $850k, $950k, even over 1 Million a pop.

Looking at the Belmont bread and butter condo – the 2 bedroom in a converted 2/3 family home, we hear a different tome: average price in the first 6 months 2010?…$326k; in 2011 it was down to $307k.

Not at all encouraging in view of the fact the 3BR single and the 2BR condo are the bastions of the first time buyer, and a first time buyer market is needed to propel a second time buyer market and the third time and so on. This may all trickle UP…and if it does, agents will be heading to the beer halls and bar rooms with a different reason for drinking.

Similar Sales are Somerville's Sales (MA) RE 1st half 2011

2011-07-08T09:10:00.002-04:00

What we are trying to say with the tongue twister up top is that Somerville’s sales for the first half of 2011 exhibited a remarkable similarity to the same period in 2010. Starting with multi family properties, we count (according to MLS), 75 transactions in 2011. In 2010?…we count 75 transactions. Average days on market? 83 days…80 days for 2010. We may well speculate that the extra three days on market was the extra effort put out by our friendly real estate agents going the extra mile for their listing clients and negotiating ‘round the clock Friday through Sunday to get the average price up….(hey…stop laughing). At any rate, average price WAS up from a bit below $496k in 2010 to a whopping $531k in aught 11.

Singles? The 28 singles that sold did so in 71 days and allowed owners to cash out at an average of $457k. In 2010, the average was a tad over $453k. In the efforts of full disclosure, we should note that 39 homes cut the deed in the first six months of 2010.

Condos? well ever an interesting game. The similarity falls off in unit sales (157 for 2011 versus 211 for 2010), but that is offset by significantly higher prices -- $392k for 2011 up from 2010’s 369k. Average days on market grew from 78 to 88 (hard negotiating again?). Ya just can’t put a bead on condos – just like last year and the year before: maybe that is the best similarity of all.

No Big Splash for Watertown Real Estate Sales so far in 2011

2011-07-06T08:33:00.001-04:00

Watertown buyers haven’t exactly made a big splash in real estate so far this year, but they haven’t exactly jumped a sinking ship either. Total numbers of units sold for the first 6months of 2011 were down compared to the same period in 2010, 159 for 2011 versus 174 for ’10, but the blame for the drop rests with the Condo “fleet”. In 2010, 114 new condo owners set sail on the rocky waves of ownership: in 2011, a mere 89 have tested the waters. Average price? Down in the shallows --- 4 grand less than 2010.

Single family sales were up in units sold and price. (42 for 2011, 33 in 2010; $475k vs. $472k on the average price front). And Multis?…up by one unit over 2010 to 28. Average price was up to $506k, an increase of $16,000 over 2010. The only problem with the Multi sales was that agents had to tread water for an average of 99 days before bringing the deal to safe harbor. It took a mere 30 days to do it in 2010.

There might be some smooth if not spectacular sailing ahead. Not much direction here, but if something need be taken away how about conjuring an image of the annoying agents who block the hydrant with her BMW NOSE DEEP TREADING WATER IN THE SALTY BRINE FOR 99 DAYS…works for me!

How is Real Estate Shakin' Down in Arlington MA so Far?

2011-07-05T08:26:00.005-04:00

How's it shakin'? Well,...shake an apple tree and the apples fall down. You can say that, and that may well have a few of your local agents shaking in their boots, but hold on, take a breath -- innnnn, hold it:....outtttt. Now let us do some math...

Hmmm, carry the two add column one plus the seven and ah, -- according to MLS, that source of unyielding approbation amongst agents, total sales in Arlington fell (for the first 6 months of 2011) from 2010's 150 units down to 121: a drop of over 19 percent. Yet, lest we panic and jump out our windows, sniff some chocolate and bear with me:

Unit sales were down but prices were up: 69 singles swapped hands in 2010 (Jan-Jun) at an average price of $486k (give or take a few bucks). "Only" 56 "manses" blew out in the same period for 2011, but they did so for a whopping $562k -- over $75,000 more per home.

Condos you ask?. OK, I tell: 2010 saw 69 sets (yup, same number as single homes) of owners crossing pens at the closing tables. In 2011, a mere 60 condos swapped out. Average price in '10 was $397k; in '11 $379. A wee bit of motion sickness there, but let's not call TARP yet -- take a Pepto and call me in the morning...

Multis? Well, 12 in aught 10; a mere 5 in '11, with prices moving UP an average of EXACTLY $1,942 -- the number was so small, I "figgered" I had room to put it all in.

What can we make of all this? I "dunno", but it IS my turn to cook dinner tonight -- I'm suddenly in the mood for some "Shake-n-Bake".

Waltham gets "Clocked"

2011-07-02T12:02:00.006-04:00

Right in the kisser -- that's where sales of took it in the first half of 2011. Looking at details out of MLS, we can count out 112 single homes that were thrown into the ring. This goes up against 134 homes for the same period in 2010 (Yur outta the weight class, baby!). Average sale price fell to $389k from 2010's 417k, and if that was not bad enough, sellers had to listen to their brokers whine for an average of 108 days: this compares to only 63 days of snivelling from brokers in 2010!

And the situation is the same for the "middleweight" class of ownership -- condos. 91 sold in 2011 down from 2010's 123. Average price?...310k in '11 and 382k in 2010. About the only thing going for condos were the days on market: agents toiled 69 days in '11 to sell the units. In 2010 they took 85.

Multis, in their small market showed a tad of promise. Average sale price up 7l to 462k, and the 23 sales topped 2010's 17.

It is too early to say Waltham is down for the count; premature to "throw in the towel" as they say. Aferall, there are 6 more rounds to go and the final story is yet to be told. To keep the boxing metaphor going, we shall ask: will it be "Cinderella Man" or will it be "Reqiem for a Heavyweight"?

F O R E !!!!!!! (closure)

2011-06-28T07:33:00.004-04:00

Why, exactly do the pluggers yell, "FORE",before they hack the golf ball 30 yards into the zip code directly to the left?

I thought about this because, as our title intimates, foreclosures are, and have been on my mind lately. You see, there a foreclosure auction scheduled on the property next door to mine, and while in some climes, whole neighborhoods seem to be trending towards the "BIG F", in my corner of the world, it is as rare as a straight talking politician.

So "Fore" has been on my mind: Fore, as in beFORE, FOREfathers, FOREcastle, and so on and so on. You get the drift? "Fore" has something to do with "in fornt of" "ahead of" "the earlier in a sequence". So the golfer is yelling,. "Fore!", to tell everyone the sequence -- "I am going to hit the ball, then it is going to smash the windshield of that BMW yonder.

So, "Foreclosure" is saying (and this is being said by the "bank"). "We are going to do this," have an auction of YOUR home, "BEFORE we get closure to the promissory (Better to spell that 'I Promise I'm SORRY!') note you, the homeowner signed, with obviously your middle finger 'up-pointed' right at us."

Yup, that is what it is... a notification of a sequence of events...that is why they call it what they call it. Not that any of this matters to my neighbors...they are long gone: hightailed it back to the old country in the Pacific rim (stiffing the bank, the town the utilities, the newspaper boy and the guy who plowed out their driveway...).

Too bad, maybe the "bank" should have done something more proactive...maybe a "WayBeforeForeclosure".

Waltham's Studio Crossings a space for the art of the entrepreneur

2011-06-25T14:03:00.000-04:00

Waltham's Studio Crossings a space for the art of the entrepreneur

Marching (or should we say "Juneing") Orders

2011-06-10T07:48:00.005-04:00

Up top there we are talking about Orders, allright...Orders of Notice. For those not in the knowing, Orders of Notices are the little tidbits that come out of the Commonwealth of Massachusetts Land Court -- Department of Trial Court, and they say, blahblah blah, "has filed with said court a complaint for authority to foreclose said mortgage in the manner following: by entry and possession and exercise of power of sale..." or some other such similar alliterative nomenclature snaking across the page.

In Belmont, as of today (6/10/11), 8 property owners have gotton one of these notices in the mail in 2011. In all of 2010, 12 folks were blessed with the banking benediction.

A quick look about shows that these owners in 2011 are spread out throughout the town: from the Waltham border to Cambridge up to the Lexington line. From "high end" to modest. Singles and condos and multi's (...oh my!).

I cannot say how this will play out, but can't help but wonder -- if Belmont is seeing this, what is happening elsewhere -- stay tuned.

Belmont Brings it Home (in May at least)

2011-05-25T07:38:00.002-04:00

Brokers have not been doing "mother's hours", in Belmont at least. With about a week left in the flower month, 21 deals have been put into the books. 16 singles sold after 55 days on the market, compared to 11 for the ENTIRE MONTH OF MAY, 2010. In that 2010 May, 11 homes sold for an average of $754k. This year, the average price is a whopping $866 according to MLS.

Condo sales are down (3 so far vs 9 for last year's entire May) but average price is up (thanks to an 830K sale in Governor Romney's neighborhood.

Multis?...well, 1 on 2010, 2 in 2011 -- not much of a trend there unless you are looking at the trend of turning 2 Fams into mini Condo Associations.

So what's the mood in little Belmont? Well, as of today there are 107 props being offered for sale. Of the 58 singles in that group, 12 are currently entertaining offers (per flagging in MLS). Average days on market for those 58 singles for sale comes out to 81 days (note -- the ones that sold did it in an average of 55.
days).

And average price on those props still on the inventory shelf?...$1,148,178 -- nearly $300,000 MORE than the sold properties.

Looks like things are selling, but if you want to sell it, "ya" better price it where people can afford it.

May Fall Ours in Arlington (MA)

2011-05-24T13:30:00.002-04:00

Get it? May fall ours...May Flowers?...Oh well.

A look at last year in Arlington shows up 64 sales in the residential world. This year, with a week or so to go, we've got 19 -- that's quite a fall. Unless there is a big change in the weather in the next week (and there "may" be -- 64 props are under agreement ready to close), we are gonna see a fall in sales.

Not that the folks who popped off those sales are complaining (well, maybe they are). Average sales for singles are up -- 527k vs 495 for last year. Condos ditto: up about 4k from last year. Fewer days on market meant that agents had more time to shuffle around the aisles of the new MarketBasket just up the road (maybe they shouldn't be doing that...there's 160 properties for sale in town!)

We are used to propes popping off the shelves in Arlington. Looking at the singles on market, we see the AVERAGE home is now on market for 71 days and counting; the counting won't stop until the dotted lines are signed. The homes that have already sold did so in 48 days on average (my listing business banged out in 30, but that is just me...note to self -- big pat on the back is due).

So where do we stand in all this? Maybe we are standing at the peak, or most likely a very long plateau...one thing is certain -- the grass is going to need cutting no matter.

Is it April Showers (How's it selling in Belmont, MA?)

2011-04-26T07:33:00.003-04:00

Ok, so we blamed the snow for the lousy sales in January, but as Granny used to say, "wassamaddanow?". Must be the April showers.

So far this month in Belmont, 25 days into it, 7 "happy homemakers" have put out the "Welcome Home" mat. Last year, for the first 25 days of April, 16 new owners began the weekend trips to Home Depot or Lowe's for the new owner what-nots. Of those 16 props in 2010, 11 were singles, and they popped out at an average of 755,000 bucks. 2011's edition has 4 singles selling at an average of 702k. I know that is not a very big sample, but that may well speak volumes in itself. But take heart, there might be some May flowers abloomin'...there ARE 29 properties Under Agreement.

It is cloudy and drizzly today. A good day for umbrellas -- and Gene Kelly.

First Quarter Real Estate "Round Down"

2011-04-14T07:36:00.002-04:00

Get it? Round-up? ... "down"?... Never mind. The idea up there was a hint that first quarter 2011 sales were down in numbers of transactions in 2011 versus 2010...at least in the areas that I haunt.

Looking at the 3 Musketeers of residential RE (Singles, Condos and Multis), only Watertown improved over 2010 in the seven towns where I did some work. Belmont was down 2 (32 in 2011 versus 34 for 2010), Newton dropped 7 units from 2020's 122; Lexington sank to 58 from 2010's 62. Waltham got "clocked" (get it? Waltham Watch/Clock Company?) -- down to 78 sales from 2020's 93. Medford finished out the quarter at 79 sales (11 below 2010); Arlington ran out at 69; 8 shy of 2010's total. Only Watertown upped the ante: 61 sales for Q1 2011 UP from 2010's 52.

I wouldn't put too much stock into this, yet folks. Let's wait 'til we review the numbers and the mix -- then we can decide what to do with "all" our stock...Stay tuned.

The Race is ON in Somerville

2011-03-17T07:58:00.004-04:00

Can you believe it?...2 weeks left and we are DONE with the first quarter of 2011. How time flies -- seems like only last year I was sniffing mimeograph paper and discovering the joys of watching Valerie Werner smooth out her "Bobbie Brooks" (but that is another story).

At any rate, at the risk of jumping the gun, I feel it is time to begin the look see at how Real Estate is holding up in my corner of the world, and today we will start off with Somerville and its agents as they race to the 1st quarter finish line.

So far this year, according to MLS, 64 properties have had the "T's" crossed and the "i's" dotted on the bottom line (6 singles, 35 condos, 23 multi-fams) -- SO FAR, we say. In the first quarter of last year (the full quarter) 107 properties did the ol' fliperino. Doesn't look good does it? But wait...

Digging a little deeper finds us a few nuggets of hope; we see (through the fog) 33 properties are Under Agreement and are scheduled to close by 3/31/11. According to these projections, the first quarter of 2011 in Somerville will close out with 98 transactions, about an 8% drop. That is nothing to toot our horns about, but it is, likewise, no reason for Chicken Little to be running about saying the sky is falling. The "goodest news" (as my grandmother used to day when she worked at the First National [remember the FN?...remember the JUMBO for that matter?]) -- the goodest news is in Condo sales, where days on market have fallen from 2010's 123 days to 108 (so far) days in 2011.

No real bad news here. The "baddest" we can find is that agents may well have to ride the Lexus about for another season before trading up to the Beemer.

Belmont (MA) Sales, where do we stand (most of us are sitting right now)

2011-03-10T08:31:00.005-05:00

Ok so we are 69 days into the new year, and in Belmont 27 properties have changed hands. 10 Singles, 16 Condos, 1 Multi (no doubt soon to be 2 condos on the flip????).

As this time last year the local Registry of Deeds bagged fees on 28 transactions, so we are ONE behind last year, but it is the mix that tells the story:

10 Singles this year,...15 last year
16 Condos this year,....10 last year
(multis were 1 versus 3, but who's watching)

Condo sales are rockin'; aided by those big ol' luxury haciendas near the old Hospital...up about 100 grand over last year.

Singles have, however gone through the roof (so to speak) 2010's first 69 days saw an average sale price of $722...this year they whacked the checkbooks for 1.1 MILLION. A bit skewered by TWO sales that logged in at 2.4 and 2.8 million. Without those two "big dogs", we'd be sitting not nearly so pretty counting treats that averaged about one thousand bills over 2010's level.

So that's where we stand, (or sit, or crawl) as we try to get 2011 off to a running start.

Cond-OH!!!-nos in Belmont Sales up in 2011 so far...

2011-03-03T08:29:00.004-05:00

Surprise, surprise... Belmont, the town that boasts itself as "THE TOWN OF HOMES", saw some "non-home action"! While the single home situation languishes in what folks say is the snow storm malaise (4 sales for January and February -- the worst ever), condominium sales in Belmont had their best year EVER in transactions as well as average price (aided by 2 big gun "Mitt Romney type" townhomes in the Woodlands)!

15 Condos had the ol' master deed docs and 6D's done over for new owners in January and February of 2011. That "one-ups" the previous best (2006) by ONE. Average price? 537k; taking out 2007's previously "Ruthian" tab of 512k. It took agents 108 days to get the job done; you have to go back to 2006 to find "better days" (2006 did it in an average of 97 days).

We can speculate on what this means for "The Town of Homes"; have we priced ourselves out of the market? or is Belmont going through the inevitable "Cambridgeification?...or perhaps is it what I call the "Condo-many-of-them Syndrome"...so many of them for sale.

A quick look at MLS shows us that as of this morning (3/3/11) there are 27 Single family homes for sale in Belmont: average offering price $1,076,000. And Condos?...well surprise, surprise there is a neat bookend of ALSO 27 condos for sale (average offer price $521k). One would think all is parity, but let us dig a tad deeper:

In the last 6 months, 5 single family home listings went EXPIRED -- read that as failed to sell during contract time. 21 condos struck out in that same period of time. It seems there is a "Shadow Market in Condos". Lots of folks want to sell 'em but they know there is no one to buy 'em. It is sort of like all those souls who have just given up on looking for a job and, as such, are NO LONGER counted in unemployment stats.

The crux of the problem may well go back to the craze that took off around 2004 when lots of 2 families were bought up and converted to condos: I call that the era of Con-DUMB-iniums and have written about it in these pages (search under the "Condominium Category" to the right, and you will find it). These condo buyers were newbies in a new strange land -- a "Town of Townhouses" (really flats that echo with he footfalls of the upstairs neighbor), and now they want out -- but they can't get out. And we are not even talking about the "under water owners".

What does this all mean? Who knows (again), but maybe agents should put on their urban thinking caps and start talking about Belmont as a "City of Apartment Dwellers" instead of a Town of Homes. It may well add up to a few more paychecks

Watertown Home Sales for 2011 so far so good...

2011-03-01T09:06:00.002-05:00

Yesterday, we looked at Belmont and saw that the first 2 months of the year saw a mere 4 new homeowners hanging out the Welcome signs. It has been speculated that the poor showing is related to the storms that have tortured the minds and frozen the pocketbooks of buyers. Today however, we look at Watertown and see a different story.

For the first 2 months of 2011, Watertown has 8 closings; sure that is down from the 10 consummated deals in 2010 but right in line with recent history -- stormy weather notwithstanding. Going back to 2005, we see first two month sales being at a low of 6 and a high of 12. Average days on market, by the way were a stealthy 69. Average price?... they were skewered to the high side by the very unusual home on Garfield that sold for $1,250,000 (a palace for sure -- you can buy 3 homes in Watertown for that). Be that as it may, the so called Belmont SNOW DAZE, does not appear to have been seen in Watertown...who knows maybe it is the weather...after all Watertown IS south of Belmont, right?

Belmont (MA) Sales (or no sales) review YTD 2011

2011-02-28T08:06:00.003-05:00

Yeah, we got one more day to go, and I'll be waiting with baited (or holding until I turn blue) breath to see the numbers from the last 6 hours of February 2011 Deed recordings, but as of now, the numbers are in and they are, uhhh, well little numbers:

In Belmont, 4 homes were sold in the first 2 months of 2011. The good news here is that you can cut off your thumb and still use your left hand for the arithmetic (not good news). Days on market? It took agents 107 days to get the job done (about a week longer than it took them to do it in 2010 [101]).

The four homes sold went for an average of (let's see, add the pinky to the ring finger, the pointer and the no-no middle digit, divide by the life line and you get...) $724,000. That is a drop of 50 Grand from the sales in the same period as last year (where, by the way, 11 homes had the locks changed).

So let us see: it took longer to sell...they did not sell as many...they dumped 'em for a 6.5% drop below 2010's sales.

A lot of agents are talking about the snow: is it true or is it snow job aimed at blinding all of us to the real storm on the horizon? I went back 15 years and looked at sales for the same period. We've had some pretty nice winters in the last 15 years -- we've had some pretty crappy ones too. In the same two month period, 2009 comes in at 9 sales. Other than that, going back to 1996, sales for the 2 month period have been between a low of ten (in 2001), and a high of 24 (1999). Three times, sales hit 17; four times they came in at 14; twice at 16; twice at 18. FOUR SALES IN THE PERIOD IS DISMAL, plain and simple.

It's the weather we are being told. No one wants to buy; no one wants to sell; there's ice on the roads. Never mind that folks are more petrified for their livelihoods -- that the slippery roads are no match for New Englanders, but the slippery economic road we all may be taking may well be a journey too daunting. Never mind... we have our cheerful eternal optimist agent telling us all is well.

" 's no tellin' (get it? snow...'s no) telling what will happen next, but one thing is for certain -- we all need to get out the shovels. One way or the other we will be shovelling -- either snow or optimistic B.S., who's to say?

Ghost Writing on the Wall

2011-02-21T11:02:00.011-05:00

She comes to me and says, "I am interested in a home that is haunted."

I mishear -- I think she says something about hunting as in a hunting lodge.

Oh, heavens no,no,no she disputes, "NO I said haunted as in ghosts."

Now folks, I do not believe in ghosts. I also do NOT believe in Democrats in the White House, but they ARE there for the moment, so maybe just maybe there are ghosts.

"Sadly," I say, "when I search for ghosts, it does not come up on MLS."

"Oh, dearie", she laughs, "of course they won't come up. They are ghosts, they hide. We won't know until we get into the home. I'll feel them."

"Why," I foolishly ask (never ask a question unless you already know they answer!), "why do you needs ghosts?"

"Well, I am single, "she says, "and I am afraid to be alone at night. The ghosts will keep me company." Crissakes, I think to myself: I am in Great Expectations showing property to Miss Haversham...where's Estella when you need her (she was the Hot One!)...just my luck.

We head to one wreck in Billerica. What luck! She hears sound from above -- an "otherworldly presence coming down." Turns out it was squirrels in the attic.

We go to a dump in Burlington: sadly she prefers her ghosts to be Kosher -- I AM not MAKING THIS UP! (do ghosts eat?).

At the third home she looks at me and says, "I should have known you'd bring me to a place like this. Looks like something out of the Vampire Diaries! I knew it would come to this."

"Say wha'?", I stammer.

"Well look at you," she posits, "those sunk in cheeks, you are rail thin and youthful yet have the wear of the ages in your face, those eyes; big round, dark that seem to want to fly out of your head..." [note to myself -- oh brother, get me "outta" here!] "...Yes, you have the look of a benevolent vampire about you. NO no no...I want ghosts, not vampires to share my life."

Well folks, no sale, but I have to look at the bright side. I have a first time buyer who's not scared! I sent her to Bank of America for her preapproval -- if that don't scare her, nothing will!

Un-Staging

2011-02-11T14:30:00.006-05:00

Everybody knows about staging. Okay, so maybe a few of you good folks do not, so by way of quick explanation, "Staging" is a concept wherein a seller prepares the home for sale by doing cockamamie things that the "home stagers" tell you will sell your home FASTFASTFAST.

Now, folks, you and I know that so nobody is fooled by some bric-a-brac bought at the local Homegoods store, or candles burning in the alcove. We ALL know that in order to sell a home FASTFASTFAST, you have to price it RIGHTRIGHTRIGHT.

I have never been one for staging. It all looks so phony to me. I walk into a "staged" home and I think of Ikea; I smell the scented candles and I want to sneeze at best (at worst, I want to look behind the fridge for the mildew).

No folks, I do not like staging, but that does not mean I am in favor of UN-STAGING...

UN-Staging is a concept I developed. I tell my clients that we must make sure not to unstage and they ask, "What, perchance is that?"

Un-staging is what I call the act of NOT doing those things that will turn off a buyer or, at best, mitigate against a favorable offer. Herewith is a list of UN-Staging items -- things we should not do:

Do not leave the foreclosure notice on the dining room table -- No one is going to up their offer for your home if they know you are in hock up to your hams. Likewise the overdue bills.

Do not show off your pets -- Fido suffers from "bad breath in dog's mouth", sorry to tell you that (you smell just like him after all these years of letting him sit in your lap). No one thinks your dog is cute. As soon as I see a free range dog, I begin to wonder where is the wee-wee stain from those paper training days.

Cats -- forget it, lock 'em up. Every five minutes they are hurling a hair ball; the litter box stinks and the food on the floor is gross.

Hubby -- if the man of the house uses male enhancement, for goodness sakes, hide the bottle; do not leave it on the dresser. We ALL know what goes on in the bedroom, and we may even go to a movie and watch Sasha Gray do it in mind boggling concatenations of styling, but we DO NOT want to think about YOU doing it. While you are at it,...change the bedsheets.

We have all been told that cooking makes a buyer feel all warm and fuzzy, but DO NOT leave the stew on the stove during a showing. The whole recipe is going to boil down to a tarry mass while you are gone and the house will stink like burnt rubber.

I love fireplaces, but do NOT leave 'em going when I show up with a prospective buyer. The only message that can come of this is, "What kind of a moron lives here who would light a fireplace and leave?"

Do not put the dirty diapers into the diaper bin -- they still stink! You just can't smell it anymore. Put the whole bin outside. While you are at it, take down some of Junior's picture. Too many pictures makes the house look too well lived in.

Don't use the basement for storage! If "ya got" clutter, rent a place. Boxes piled high just look like you are hiding something.

Hide the magazine collections. We are all very impressed knowing you read the New Yorker...this week's issue is just fine, but we DON'T need to see them going back to 1965.

Don't leave 3 weeks of leftovers in the fridge. It smells, and at any rate, the fridge may well be part of the offer. Even if it is not, the buyers are going to open it.

Do you really need to leave that box of Trojan's in the medicine cabinet? Do you really need to leave the "Girls Gone Wild" DVDs on the night rest? If you do, at least leave a copy of Citizen Kane there.

DO NOT vacuum TOMORROW! Do it today.

Do not soak the dishes.

Do NOT smoke...EVER. In fact, stop smoking TEN YEARS before you decide to sell. That is how long the nicotine is going to take to dry out of your wall board.

Don't leave fancy chocolates around...good ol' Hershey works just fine. I mean, it might not have an impact on selling the home but, well, what I mean is...I like Hershey...

A Friend in Need Should NOT Be a Friend (IN)Deed

2011-01-31T10:03:00.008-05:00

She comes to me and says, "We were together for 5 years. It seemed only natural."

My friend here (ALL my friends are women), was showing me shapshots of the renovated kitchen in the condo she bought "yonder" about 8 years ago. "I mean," she postured, "We did so much work on the place, together, and he seemed to be the perfect guy!"

Now, folks, those of you who know me, can well attest that I work magic on women -- I make 'em disappear! I bring this up to point out that IF I knew what was the perfect man, I would have fashioned myself to be one long ago....So I asked her, "Perfect? How so."

"Well, single, never married, no kids, fortyish, living with his mother..." I lose it there...Any woman who thinks a forty-year-old living with is mother is perfect, well...'nuf said on that!

"So," she continues, "it was only natural. It seemed so normal to do it....And then I find out -- he's been in so many affairs that he should be a caterer! And he comes to me and tells me he's got some girl pregnant and, get this...he wonders if maybe it might be best if WE raise the child as OUR own!" And off she goes to Sobbingland.

"Well throw Old Lochinvar out, for crissake," I say.

"But I can't."

"Listen, honey," I move in for the heart-to-heart, "this is no time to play the conscience, the guy's a bum with a wet wick..."

"No it is not that," she cries, "we were an 'US'; a together, a 'WE'...so last year, I put his name on the deed. I can't throw him out; he owns the place too!" (And now even I'M crying!) "Yes, last year, while he was shakin' and bakin' in Miss GirlScoutCookie's oven, I was off at the lawyer changing the ownership of this place from a 'ME' to a 'WE'. On our 'quote' anniversary, 'unquote', I showed it to him. So Ya see, I can't throw him out, no more than he can throw me out! And he can bring his damn cupcake in with him, I suppose and we can all do a 3-some, or maybe THEY do a 2-some while I burp the baby." And inconsolable tears aplenty pour forth.

Readers, when words fail me (and they DO NOT FAIL very often), I think of cleavage, and here, words failed me... For a few short moments, I thought about how my friend would look in a shred of lingerie from the Frederick's of Hollywood collection (this situation was WELL beyond Victoria's Secret stuttering!).

"Uhhh, yeah," I say, my "unShakesperean moment continuing, "Uhh ya," and I say the only thing I can say, "Call your attorney."

Who knows, maybe it all can be undone. Maybe there is something in deceitful intent...but one thing is for certain -- don't make a friend, indeed, a friend IN DEED.

If it Sounds Too Good to be True, it is Probably a (NEW) Agent Talking

2011-01-21T07:21:00.006-05:00

She's showing the listing of mine in Arlington. I'm there to make sure the dog does not bite. She's this cute little kitten of an agent holding out her shiny new business card, and showing me her license (still warm from the presses).

Her customer asks, "Where is the property line", and the sprightly, energetic young lass replies, "Over there...see the fence?" and she prances across the yard all the while talking about the shrubbery and other flotsam of greenery this "yard" will fairly produce under the pressure of a will green thumb.

I, of course, am not thinking green: I am turning red. As her customers plot and plan their futures in a tad of privacy under the canopy of a catalpa tree, I whisk the young agent over to an opposite corner, and as delicately as possible ask her, "Are you friggin' crazy or just stupid?" (OK I did not say "friggin'")

"What?" she asks.

"You," I say, "just told your customer where the property line is? How do you know? How do you know that the fence is not misplaced, or recessed or EVEN meant to be on the property line of THIS property or the neighbor's."

"Well," she says, rather non-plussed, "CAVEAT EMPTOR! -- Buyer beware!" and she jingle jangles off to show them the inside of the home with the new windows and new what nots (note to readers -- is something "NEW" if it is one month old? 1 year old? who is to say what is new?)

Ya see folks, here in my little corner of the world, there is NO SUCH THING AS CAVEAT EMPTOR -- BUYER BEWARE!!!!!!! No such thing, no such thing! We have, instead, 93A -- the Consumer Protection Act (MGL Chapter 93A).

93A protects consumers from, well... being misled and harmed by statements from those who are professionals in their fields. In other words it gives the inexperienced consumer protection from being rough-shod by some hi-falutin' wheeler dealer, right?

Right, but it DOES more: it "imposes responsibility for false statements made in good faith. The broker can obtain no refuge from liability because of the statement being made in good faith on her part" (from Grynowicki v. Silvia, 1994 Mass App 173).

Despite the new agent's best intentions and good faith, she runs afoul of consumer protection laws and risks heavy damages assessed --- and she DOES NOT EVEN KNOW IT!

So what to do? I took her buyers aside, and told them that the fence may or may not be the line. I told them we do not have a survey, and the owners of the home do not have a survey. The only way to be sure is with a survey. In other words I saved her (nicely sculpted at SuperFitness) BUTT!

So remember, buyers do not have to "beware" -- they do not even have to be AWARE! They just have to mention 93A!.

Order of Notice Review 2010

2011-01-14T07:42:00.003-05:00

For those folks who do not know what is an "Order of Notice", let us move into the magical land of make believe: let us imagine this scenerio:

Scene 1, Take 1: Owner opens letter on the table. Perplexed by the big words, and stymied by the reference to military personnel, the owner puts down the letter, picks it up, reads it again.
Scene 2, Take 1: Owner divides the big words in the calligraphy on the page and realizes that this letter is notice that their "banker" intends to begin foreclosure proceedings. The letter in hand is serving notice that if the owner is active in the military service of his/her country, he/she should so make written notice to that effect...and so our story goes.

The "OON" is a good indicator on foreclosures. In Belmont, 12 neighbors got the OON in 2010. That is an imporvement of the 17 who got the riot act put on them on 2009. Sad, but a bucking of the trend as the chart below of surrounding towns details:

Waltham in 2010 104; in 2009 73
Lexington in 2010 20; in 2009 16
Arlington in 2010 38; in 2009 13
Medford in 2010 119; in 2009 111
Watertown in 2010 38; in 2009 38

This may well look like good news for Belmont, but silver linings, DO, in fact cover the storms. It may well be that so many of our homes were bought at such infalted prices, that banks DO NOT WANT TO FORECLOSE. Why foreclose on an unsellable property; why pick up ownership and have to pay those taxes? Better to let the defaulting owner dangle in the breeze (or hurricane).

Not too funny, but then, it isn't supposed to be.

An MVP award in Arlington (MA) 2010 Condo Review

2011-01-10T07:26:00.005-05:00

A few days ago, we happily reported the triple crown winner for 2010 was Arlington (single family sales). Single family's battery-mate, the condo, went to bat also and put up numbers worthy of Willie Mays or Mickey Mantle (pre-steroid heros).

In 2010, 201 condo docs changed hands; eleven fewer than the number that got got snatched up in 2009. BUT -- the average price long balled up to $396,242 from $350,223 (13%). Days on market was clocked on the speed gun at 59.46 (according1g to MLS), and was was nearly 11 days faster than 2009! And in the all important slugging-percentage-like area of price per square foot, 2010 knocked it out at $285 per, versus 2009's $279.

If there is one weak hole (and there ever is: even Ted Williams had a weak hole -- he batted [his own assessment] a paltry .240 when going after the low inside pitches), that weak hole would be expired listing. In 2009, 57 listings failed to sell. In 2010, 114 owners were "left on base".

As the season swings into high gear we are left to wonder: will they improve in their offensive categories and drive in those 114 owners, or will the season swing somewhere else? I thin the former.

Condo Sales hit a Brick "Wal(tham)" (MA)

2011-01-08T09:52:00.011-05:00

the 205 condos sales in 2010 represent a 23% drop in numbers of sales versus 2009. Not good for agents even if one considers the average price rose from the width of a joist from about $312,000 in 2009 to $318,000. Agents may well point out that they were on the beam here with average days on market dropping to 87 from 2009's 90 (big deal!).

Things are not as bright as agents may make it out to be...the average sales price rise is not due to demand, folks, but to the size of the condos. In 2009, comndos sold for an average of $257 a square foot. In 2010, the averge Price per square foot dropped to $243. Added to that, there were 108 owners lweft in the dark when their condos did not sell and went expired in 2010 (a mere 68 expired in 2009).

Which just does to show that maybe bright eyed agents, like the "expired" owners are also in the dark...Better cut a window in that wall and take a look around.

Waltham Keeps on Ticking

2011-01-07T08:34:00.002-05:00

I know the "keeps on ticking" refers to the old Timex watch ads, but come on, cut me some slack...it ain't easy being funny when you are trying to make pancakes for a middle schooler's breakfast. The reference refers to Waltham as in Waltham Clock, get it?...ah the heck with it.

At any rate Waltham's finest (agents) chimed out 265 single deals in 2010 up from 2009's 235. And they did it in 71 or so days -- 10 days faster than in 2009. Of course, according to MLS, prices dropped to $406,466 from 2009's $414,232 -- maybe that accounted for the "time change" (get it?).

Of course, all is not going according to the time tables in the "Watch City". 123 listings went expired or were cancelled in 2010. In 2009, 93 listings had the springs busted. That's an awful lot of time running out and an awful lot of "ticked off" sellers.

I cannot say what the new year will bring. Will things wind down? or will we move at "warp speed"? Time will tell.

Watered Down Sales -- 2010 Condo Sales review for Watertown MA

2011-01-06T07:37:00.003-05:00

OK, so 179 condos were sold in little Watertown, MA in 2010. Nice, huh? Actually that is 20 fewer than in 2009, but agents have some solace: prices were up a bit. According to MLS, the average price in 2010 was about 338k, up from 331k. Note to agents: don't tap into the kid's college fund yet.

Agents had to work a bit more (work???) in 2010. They had to churn up 121 days to make the average sale. In 2009 they kanoodled the sale in 91 days. Yeesh! that is a whole month -- equal to the average agent's stay at their summer home one the CAPE! Yee gods.

The big bad news is here. 113 condos went unsold and the listings expired. A scantly69 failed to sell in 2009. Add to that the 63 listings currently on market (1/6/11), and you've got yourself quite a dandy (and large) pool of condos for sale.

Time will tell, but statistics say the condo prices will be "diluted" in 2011...and that may give buyers a chance to make a real splash!

Condo "Many-of-Them" (Belmont, MA)

2011-01-05T07:42:00.003-05:00

So 84 condos (well mostly 2 family homes cut in half) went onto the chopping block in 2010; average price, a bit under $461k. Big improvements in both areas over 2009 when 66 flats swapped deed holders at an average price just below $420k. Not bad, but agents had to put the nose to the grindstone a lot longer to etch those down payments into stone. It took an average of 161 days (upwards of 6 months) to natch down the deal compared to 106 days for 2009.

And yet, the stock remains plentiful: 58 condos FAILED to sell and the listings went EXPIRED in 2010. In 2009, the number was 53. By point of comparison, in 2010 a mere 34 single fams went expired versus 48 single expires in 2009.

If you did not get in on the condo buying in 2010, do not worry, you have not missed the boat. There's a rather lame joke out and about that goes something like this:

"You know of any condos for sale?"
"Yeah"
"Which one?"
"All of them."

A "Triple Crown" in Arlington

2011-01-04T07:37:00.002-05:00

Arlington wins the MVP award for 2010 (as far as agents are concerned, anyway). Buyers and sellers stepped up the plate and cracked out an amazing 277 deals; a 12% increase over 2009. And there were no "cheap shots" here: the heavy lumber was out according to MLS what with average sale price going the distance and coming in at $537,511 (a 5 percent increase in that power catagory)!

Ahhh, but to complete the steller year, in came the speed: average days on market was a good ol' fashioned "Ryan's Express" down the middle: 48.57 days on market -- 3 days faster than 2009.

Sales, Price and Speed. The three big stats. what does all this mean for the 2011"season"? Who knows, but I would not be surpised to see a few more agents driving new "beemers" around Arlington in the next few months.

Watertown all Washed Up?

2011-01-03T07:56:00.004-05:00

OK ok ok...home sales in Watertown did not exactly take a bath in 2010, but real estate agents were not exactly showered with riches on the transactions they put together.

According to MLS, 71 single family homes saw former owners throwing in the towel compared to 79 homes in 2009; a 10 percent grading on the downward slippery slope (stop me on the "water" jokes).

It took an average of 66 days for folks to "liquidate" versus 61 days in 2009. The good news is in average sale price: 2010 saw home sales averaging $472,976: up from 2009's $456,293 -- about a 3% gain. That stat sort of helps with the ol' glass half full analogy, does it not?

All this does not mean that we should roll out the barrel and dance the polka in celebration of recovery, but it DOES mean that anyone talking about a dire and dismal future ought to have the old mouth washed out with soap!

Belmont Balancing Act

2010-12-31T08:44:00.004-05:00

Ok, so there may be one or two souls out there putting the ol' schnozzola to the grindstone and getting one last close into the books, but as Bob Dylan sings, "It ain't me, babe..."; I am off the clock today: getting ready for whatever extravaganzas are coming tonight.

With that cut into stone, I may relate that Belmont was nicely balanced when comparing sales of singles in 2010 to 2009. With the final caveat of last hour closings (C'mon no one's workin' today!), we can say that 144 singles changed hands in 2010. That is 3 less than 2009 (147) and a 2% tip to the "malaise", but wait....the average sale price was just shy of $778,000 according to my stats from MLS, versus 2009's average pluck of $730,000 (up a bit). The scales shift back to the center: a little less in sales, a little more in price (or commission check for the Belmont agents). Even Steven. In fact, those agents grabbed a cut of $112,011,552in sales in 2010. In 2009 those same souls were forced to get by with commissions based on a paltry 107,310,558 -- about 4.7 million dollars less in 2009 versus 2010.

I just peel with excitement at what a breakdown of the condo market might be, but that will have to wait. I am off today. See you all on the other side. May any and all of your disappointments in this dying year of 2010 inspire you all to travel roads with brighter and wider eyes.

My best,
Al.

Value Added Investment Grade? One step at a Time

2010-10-12T08:10:00.011-04:00

Agents live for broker tours. For those not of the "cognoscenti", a broker tour is like an Open House, except it is an Open House for the "elect" -- read that for only brokers. It is a chance for a listing agent to show a property to other agents in the hope they may well have a client who would like the home. Agents going on tour do not necessarily like the Broker Tours for this -- they like it for the free food that is usually spread out by the Listing Agent to entice the traffic. For example, in my corner of the world, "lunch" is served in Belmont, Arlington and Cambridge on Tuesdays, Wednesday it is Newton, and Friday it is Watertown and Waltham (yum yum). Other towns in my area have their days...check an agent's GPS history and you can figure that out for Medford, Lexington, Wellesley, Brookline and so on.

The other day, I go to this broker tour. I am cheerfully met at the door by a sprightly young agent (I know she is young...the low cut sweater [a Cashmere Over Sized Cowl Tunic from Michael Star; $326] that she wears is slightly amiss at the left shoulder exposing not just a maroon bra strap [Victoria's Secret], but also the wing of an angel tattoo pricked into the skin, I surmise, after a long night with some Brown University frat boy(s?) -- I recognize the work...Ronnie's Tattoo, Providence, RI; $89.99).

"Welcome," she says, and, "Oh, could you please remove your shoes?"

Now readers, at my stage in life and in this place and time, I should be excited when a woman asks me to remove ANY article of my clothing, in this case, if for nothing else, for the one second of fantasy that this person has a foot fetish. Alas, sadly, she spoke too fast and cut all "fantasm" to the quick.

"It is the rugs," she imparts, "they are collector quality."

For the first time, I looked below the agent's torso, passed the Eileen Fisher Stretch Ponte Pencil Skirt (Sak's Fifth Avenue, $158), down the finely waxed calves (Li Kim Thuy's Nail and Wax Shop [bikini lines a specialty], Dorchester, perhaps?) and down to the bare feet ("Shoeless" Joe Jackson; Chicago White Sox, 1919). Off to the right was an imitation brass scupper (Home and Hearth, $68), and neatly resting in it were the agent's shoes; black high heeled "court pumps" from Redoute Creations, Paris (40 Euros or 60 bucks at current exchange rates).

"You see," she continued, "the rugs are all quite pricey. This one is an Isfahan and over there in the sitting room is a Bakhshaish. This runner is a Hussainaba. They are investments!"

Now folks, I really do not want to talk rugs here, but rugs as an investment?...I mean if you want people to just stamp and stomp all over your investments, that is O.K, but why not just give your money to Wall Street? That's what they down there everyday.

"Uh, huh," I say as I remove my shoes (PayLess $14.99 Buy-One-Get-One-Free [BOGO]), thanking God for the wisdom of that trip to Marshall's the day before (New black socks, slightly irregular, 6 pair; $3.99). As I am doing this, I am searching about for the route to the kitchen and the free lunch platter laid out. After all, all I want, all ALL agents want is a sandwich and maybe a Coke to go (free at Broker Tours; $1.59 at 7-11; remember to cash in the can and you come out a nickel to the good!).

"And," she points out, "all the collectibles on the walls!", and she directs my attention to the shelves and cut outs and nooks and crannies filled with bric-a-bracs, porcelains and potteries of all manner of invention.

"Listen," I say, still looking beyond her slender posterior for the platter (do I smell roast beef!?), "I don't know, kiddo...you are going to bring a lot of people into this house and with all these nicknacks about, well...I'd be afraid that some of them are going to get 'paddy-whacked'...and you'll be the one that will have to, shall we say, 'give the dog the bone' if you get my drift". She didn't, apparently she is too young for the "This-Old-Man-He-Plays-One" joke motif.

"Come again?" she says, and I reply something to the effect that at my age, I would need a good dose of Viagra to do that (she didn't get that joke either).

"I don't understand," she says.

I tell her, "What I mean is...it's the stuff...no one -- not even you!!! -- will be looking at the house. It is ALL stuff. First you ask folks to take off their shoes...what if they have a hole in their sock?" (Thank God [again] I went to Marshalls!), "then they walk into this museum. Let me tell ya, honey, people want to live in a house, not a museum. You know who lives in a museum?...King Tut lives in a museum, and for him that's an upgrade, 'cause before that he was living in a freaking hole in the desert for 3 thousand years!. Folks want to see if their entertainment center from Jordan's Furniture will fit here. They want to see the glow of the hardwood floors; they don't want to tip-toe around some magic carpet smuggled out of Pakistan. For your sake and for the sake of your client, you need to get this place cleaned up. You're not selling admission tickets here...you are selling a house."

She begins a retort of some sort, but I am gone; I see the snake route to the kitchen and the spread; catered by Rebecca's!!! ooooh!, Turkey, Tuna, Veggie, and ROAST BEEF on SOUR DOUGH ROLLS ($7.99 each), a bag of Cape Cod Chips ($1.19)...and a Diet Coke.........TO GO.

Terminal-ology

2010-09-23T09:22:00.006-04:00

A description from one of my sold listings follows:

This convenient 2 family in the desirable West End features newer vinyl siding, new replacement windows, new heating and hot water systems, updated electric, as well as a pristine and just renovated second floor unit along with other bonuses. Enjoy great rent potential in a home that is close to public transportation and area amenities.

Ya see what we got there? Keep it in mind as we digress...

Back in the day when I was a lad, a friend came to me and asked wouldst I proffer to him my time and disposition to make success of a double date. His plan was to go bowling; he with his "amour" on their third foray and I, well, she has a cousin, a cousin who was visiting, I may have surmised from the "farm". Naturally, I asked of the pertinent qualities and he responded with, "She's great...she's a really nice person, fun to be around...she's got a great personality."

I passed on the blind date. I figured that if the best asset to be offered was the fun-to-be-around, great personality, then I might as well get it on with Ronald McDonald because at least he wears a balloon nose over his ugly face.

I bring this up because, in fact, many years later I saw that blind date. She was with my friend. My friend catches me in a Bruegger's and calls me over to meet his wife, a local TV personality, and the conversation went like this:

"XXXX, this is my friend, Al....Al, this is my wife, XXXX (although, if you watch the weather, I think you know that."
"Pleased," I say.
"You know, honey," my friend says, "This is the guy I wanted to set you up with when you first moved here." Hollow laughs all around.
"Well, I am glad he said 'No' ", she said and off they went.

A few days later I tagged him by phone:

"Yeah, so what was that," I inject, "You dumped the girlfriend and take up with the cousin?"
"Could have been yours, pal, could have been yours."
"Except you told me she was a dog...you told me she had a uhhh 'great personality'..."
"And she does..."
"But," I say, "With all due respect, why did you try to sell me on that bill of goods. I was twenty. You're selling me Emily Dickinson when I wanted to buy Sharon Stone, for crissakes."
"Well...you were a sensitive guy. I gave you sensitive..."

So what the hell is the point of this story? The point of this story is the wording. A "sell" word can well be terminal to a sale if not properly placed. Folks are wary of words; they can mean many things, and in most cases, they mean to dislodge and up end belief.

So it is with Real Estate descriptions and the words we use. I try not to use the buzz words -- buzz words create obfuscation. So herewith are some buzz words and what I feel they mean to a reader:

Cozy -- small

Close to Shops -- every rummy in town will piss on your privet hedges as he walks by on his way to the "Packy".

Unique -- stupid

Family room -- basement

Wet bar -- basement has a sink

Au pair -- basement has a bed where the owner's son used to hump his girlfriend

County like -- you will be mowing the lawn every day

Won't last -- it will be going to foreclosure soon

Meticulously maintained -- has not had a thing done to it since Eisenhower was in office

Quiet Street -- the town does not maintain it

Lots of storage -- wet basement

Open architecture -- you know when anyone goes into the can

Half bath -- they turned a closet into a "Throne Room"

Easy access -- it is on a main drag

Expandable -- you can finish the attic once you get the squirrels out of it

Tudor -- rooms in the attic

Old charmer -- Ugly

Historic -- previous owner was a sex offender

Great school -- high taxes

Desirable -- high taxes

Small town feel -- high taxes

Period detail -- rotten moulding

Sweat Equity -- you will never get it done; hire a contractor

MICRO economics in Belmont

2010-09-22T09:23:00.009-04:00

It has been a long and dispiriting spring followed by a dismal summer that saw long time stores shutter up all around my little corner of the world. The Auto Parts guy in Cushing Square is in the process of pulling his spark plugs -- the EVERYTHING MUST GO sign screams across Common Street. No more can a soul buy fudge down Trapelo Road, and the print shop one passes on the way has run out of ink -- the building is now forlorn and for sale. An electrician has moved into the storefront that was once a takeout chicken joint: "I don't need a store front," he told me, "but the price was right." The old bookstore in the center of town

Of all the shuttered businesses about, the one that is most surprising is my maid: she stopped coming in June. For the better part of ten years, she had been mopping and wiping the the ne'er-do-well issue of my life, finding shoes I have left scattered about, washing dishes, putting the glow on my hardwoods, vacuuming out of the rug the evidence of my retreating hairline, and in general working her skill on those things and utilities about which modesty forbids description.

I did some "jungle drum" research into the woebegone circumstances...it appears she was illegal, I have been told. She was a regular traveller to and back from Brazil. As far As I can guess, she did the trip one too many times. I have been visited by at least seven "new" Brazilians, all claiming to be the extension of my maid's business. I have chosen none of them.

If the dismal summer taught me anything, it was a real lesson in MACROeconomics by way of the MICRO. You see, I have been sweeping the floors myself, mopping, putting away my shoes, and what nots, and doing exactly all the things I should have been doing in the first place. My home is tidy, fit for me, if not for a king, AND I am saving 63 smackers a week -- that's 63 bucks staying inside the US economy, yup 63 bucks a week that I will use here -- maybe an extra Trombone lesson for the kid, or maybe, after a year, well let us see -- that is almost $3,300 dollars! That is the down payment on that new Chevy Cruze that is going to be the hot car of 2011!

They say that illegals are doing jobs WE do not want to do. I say, they are doing jobs that need NOT be done. We are overly conspicuous in our consumption. We do not need some of the services we buy. As a cleaner, I am doing just fine, thank you...a few minutes a day here and there and I am at one with my home. I have reconnected with the nooks and crannies (and found things I should have discarded years ago not to mention things I should have held closer to my thoughts, but instead dumped behind the file cabinets). And, of course, there is the exercise; I am feeling fit and trim as I putter about the halls of the castle, deep-kneeing my way into the closets and squatting to swipe the dust from under the futon.

And I have begun to think -- what if we all cleaned our own homes, mowed our lawn lawns, did our own nails? In my corner of the world, the landscaper's truck and trailer is longer than the street frontage of many homes...do we really need their services? Are we so busy at the gym that we cannot find 15 minutes and get our exercise pushing the rotaries across the grass?

For me, I see a win win...my apparently illegal maid has left the country, a situation that most folks feel needs to be replicated 10 million more times...and I have a new stash of cash in my pocket. What to do with it?...a great economic question, stay tuned.

News Events of the World -- Belmont (MA) Style

2010-04-15T08:41:00.001-04:00

Cannot say too much about this other than it gives new meanig to Catfighting.

Belmont Citizen-Herald
Posted Apr 14, 2010 @ 04:32 PM
Belmont, Mass. — Police responded to a Creeley Road residence last week for a dispute between roommates that allegedly led one roommate to throw a cat at the other, according to a police report.

Officers responded to the scene just before 11 a.m. on April 8, where a male resident told police an argument erupted between him and his roommate, who claimed that the man had left the lid off a trash can, which attracted a skunk that wound up spraying the man’s cat.

The man said that during the argument, the roommate threw the cat at him.

Officers interviewed the roommate, who confirmed the two had argued but said he did not throw the cat.

Both men declined assistance in obtaining a restraining order against the other.

No charges were filed against either of the residents.

Copyright 2010 Belmont Citizen-Herald. Some rights reserved

Dr Leaky Then Zoo

2010-04-08T15:13:00.004-04:00

That ditty up top has nothing to do with paleontology (Dr. Leaky and family in Africa -- remember from High School...or National Geographic?) It happens to be an anagram up top.

You see, folks, I had the pleasure of trying to do business with another broker this week. A broker who had more titles after her name than the Queen of England. Herewith are the business card busting "designations":

XXXXX XXXXXXXXX

ABR, ASR, CBR, CRB, CRS, GRI, ITI, PMN, RECS, SRES

Broker/Owner, Justice of the Peace, ABA Certified Paralegal

Now I have some "desigs" myself but they mean nothing to my clients and I don't put 'em on my cards. However in this case there may have had a higher purpose: all those letters -- a litany of triandic digits got me thinking, and the above anagram popped into mind.

It really works. Perhaps you know her (let me know if you want the solution). Perhaps not (still want the solution?). Perhaps you suddenly have a hankering for studying English or doing a puzzle in the Herald. Or maybe you'll pull out the old High School book and re-read up on Paranthropus Man.....

What's in a Name?

2010-04-07T08:15:00.004-04:00

This morning I was int he process of tuning out a commercial on the radio when the announcer go a few words through my haze. The commercial was for ome sort of medical facility. The announcer, in touting the advantages of the particular sawmill, noted a good doctor by the name of YAO.

That got me going...

Yao, you see is the sound I make when I get a shot; it is the sound I make when I stub my toe. It is the elocution evacuated when I sliced my finger with the butcher knife...It is NOT the sound I want to hear when my doctor hands me his business card (you may well hear it when I get the bill!).

I supposed that rose-by-any-other-name gig kicks in here, but still...my doctor's "handle" being the sound of pain?...I think not.

Now my name as, well, guttural as it is, has an appeal, of sorts in my line of work, and my "StreetSmarts" TR (that's trademark) is an easy evolution. All this got me thinking about the names and slogans of a few of the folks with whom I associate.

My 2 favorites are competitors in the disagreeable area of septic tank cleaning. We all know what septic tanks are -- they are where all that, uhhh, flushing goes, and a cleaner of septic tanks keeps all that stuff running in the right direction (read that as not back up your pipes.

One company bills itself as, "we are number one in the number two business". Yup...right on the side of the trucks. The other is more scatological. That second company touts the benefits as it is by telling us, "a Royal Flush is better than a 'Full House' ". Not a bad poker play on words.

I supposed a doctor with a painful name may be good...certainly I remember it. It's not like my friend, Dr. Bottom --- the proctologist.

Is it a PUN? Belmont (and other thefts)

2010-04-03T08:40:00.004-04:00

MY ditty from yesterday's papers (4/2/10), needs a tad of updating. For those who cannot remember yesterday, I will say that Vin Cedrone, whose folks own the chateau at 315 Crafts in Newton got bagged stealing expensive plaques from buildings and monuments. Pulled from sources is the quote below:

"In a statement, District Attorney Gerard T. Leone called the thefts “brazen,’’ saying Cedrone targeted public property in the three communities to sell. He estimated the damages to be in the tens of thousands of dollars."

The word "brazen" has taken on a meain inour vernacular of being tought, audacious -- sort of devil-may-care, damn-the-torpedoes sort of feel, yet there is more to the word. Here comes the fun.

The key to all this is the word "BRAZEN". The word stems from the Old English BRAESEN. It means, get this, B R A S S!. Yeah, brass as in metal... expensive metal, as in plaques on buildings! yeah, is it a pun? Is DA Leone exceedingly witty?...or most likely just a limited vocab kind of guy who hit it big today.

Anyway, it's wonderful. I hope the Perp ("brass balls" included) gets to hack his way through some metal bars soon.

The Belmont and Watertown and Newton and...THIEF

2010-04-02T06:52:00.003-04:00

This is right outta the local Belmont (MA) "rag". It is too funny not to copy. Check out the "Perp's" Mode-of-Op...

By Dan Atkinson, Jen Thomas, Christian Schiavone and Emily Costello/belmont@cnc.com
Belmont Citizen-Herald
Posted Mar 31, 2010 @ 05:04 PM
Last update Mar 31, 2010 @ 05:27 PM
Newton, Mass. — Newton police have arrested a suspect in connection with last weekend’s theft of a bronze plaque from the Homer Building in Belmont, as well as a similar theft in Newton.

Vincent Cedrone, 52, of 315 Crafts St. in Newton, was charged with two counts of receiving stolen property, according to Newton Police Lt. Bruce Apotheker. He reportedly stole a bronze plaque from the Chestnut Grove condominium complex at 1175 Chestnut St. as well as the plaque in Belmont, Apotheker said.

Belmont police have also charged Cedrone with larceny over $250 and defacing property in connection with the March 21 theft of the Homer Building plaque, which was captured by several security cameras. The plaque is valued at about $1,900.

Cedrone’s arrest isn’t the first time his name has been connected to a missing historic plaque.

Last January, he received a $1,000 reward for returning the Belfry plaque stolen from Lexington’s Battle Green, according to one of the three businessmen who offered the reward.

Several weeks after the plaque went missing in December 2009, a Lexington police officer reportedly spotted Cedrone trying to load it into his car. He allegedly told the officer he found it and wanted to return it.

Now Cedrone is suspected of similar thefts in Belmont, Newton and Watertown, according to police officials in the three towns.

Lt. Richard Santangelo, a spokesman for the Belmont Police Department, said police received information that led them to Cedrone after releasing the security camera videos to news outlets, including one that aired the footage on the evening news.

The footage shows a man pulling into the Town Hall complex in a small white coupe at 4:30 p.m. The man appears to first try to pull off the bronze plaque on the school department building across the driveway, but gives up and moves on to the Homer Building.

“It was definitely the result getting the pictures out there to people,” said Santangelo. “Right after the broadcast we got some information.”

Santangelo declined to say what type of information police received and said he didn’t know whether it came first to police Belmont or Newton. After a joint investigation between police in Newton and Belmont, Newton officers made the arrest, Santangelo said.

So far, the Homer Building plaque has not been recovered and may have already been sold for scrap, according to police.

Santangelo said Cedrone is also a suspect in the theft of four other plaques from the Waverley Square area. One was mounted on a concrete post on the railroad bridge running along Trapelo Road. The other three were smaller plaques set in stone monuments around the triangular grassy space over the Waverley Square Commuter Rail station.

Historical plaques have turned up stolen in Newton and Watertown in recent months. Tablets have been swiped from Newton's Country Day School, Memorial Monument Rock at Newton City Hall and the Johnny Kelley statue.

Watertown had seven plaques stolen — three from Arsenal Park, three from in front of the Commander's Mansion on Talcott Avenue and one from Watertown Square. All appear to have been pried off.

Lt. Michael Lawn of the Watertown Police Department said police believe the thefts in Watertown, Belmont and Newton are related. Though Cedrone has not been charged with any of the Watertown thefts, Lawn said the police are "confident" the crimes were committed by the same person.

Thieves did not get away with another plaque at the George Washington monument in front of the Watertown Free Public Library, though the plaque suffered some damage from what appears to be an attempt at dislodging it.

Police believe the plaques were stolen so the metal could be scrapped.

Newton's Apotheker would not comment if Cedrone is connected to other plaque thefts, referring questions to the Middlesex District Attorney's office. The DA's office has not returned phone calls for comment.

At least a dozen plaques have been reported stolen in the Newton area over the past few weeks.

Despite Cedrone's arrest, John Carroll, one of the Lexington businessmen who gave Cedrone the reward, said he was just happy to have the plaque back.

“When we made the offer, it was no questions asked,” said Carroll, who owns Stone Meadow Golf on Waltham Street. “We were more interested in getting the plaque back and making sure it wasn't sold for scrap. It turned out well in the end.”

Copyright 2010 Belmont Citizen-Herald. Some rights reserved

April Fool's Day

2010-04-01T08:45:00.003-04:00

Other than the fact that Rambler (Actually by then called American Motors) introduced the piece of crap "Gremlin" "car", we see nothing very funny happening on this day of fools.

We cannot even find a reason, other than of the Urban variety as why this day is noted as such. Some say it has to do with the changing of the New Year to January (instead of timing it with the beginning of spring -- that was foolish), but that seems not the case as Chaucer in the 1300's talks of Fools Day and the switcheroo to January took form a couple hundred years later.

One thing is certain -- pranks will be played, for humor is the name of the day. Lest, however we forget what humor is, we must be reminded at ALL humor needs a victim. Someone needs to fall, or have his face flattened by a frying pan, or be ridiculed in public. In order for an audience to laugh, some ONE person has to cry. So go out and do one's thing on this day...the village idiot is waiting to be slapped.

(D)arlington, MA

2010-03-31T07:57:00.003-04:00

Notwithstanding the caveat that there is ONE MORE DAY left to the quarter, we hazard a trip north from Belmont and take a look at that darling of the Real estate agents, Arlington (get it?...DArlington...ahem...).

Agents bagged pieces of 33 single family payoffs in the first quarter of 2010. This rubs out as a jump over 2009 where 25 homes changed grimy hands, AND an increase over 2008 when 33 singles, shall we say, entered real estate matrimony (get it?...darling, single, matrimony. Hello?!?! I need a laugh here.).

I would not jump to conclusions here about the 8,000 rubdown being given out here. I leave that mental masturbation to the PHD's at Harvard.

Who knows, Arlington seems to be such a sweet little town. Maybe all they need is love.

Ooops...I did it again... (actually they did it)

2010-03-30T13:18:00.003-04:00

Can you believe it, "shoppers"? One day left and the first quarter of this new decade is over...

Now, I know there's a bit of time left, but we may well jump the gun and begin to take a look at the slices and dices of how the "recovery" is coming along. Starting with that spendthrift Cambridge wannabe town of Belmont, we see 15 single family deals closed in the quarter...a big jump from the 11 of last year (must be that 8 grand tax gig, eh???). But whoa, what looms on the rear horizon, Kimmosabi? It ain't Uncas or the Last of the Mohicans...it is none other than the first quarter of 2008 -- wherein 29 RE attorney's got paid to write up 29 deeds. Whoa, Silver, we are being told that the LAST 2 years TOGETHER have not gotten up to where they can scratch the butt of 2008. IS that what we are being told??? Yup that is it.

I think this explains the scared stiff smile of the housewife house hucksters -- the ones who do one deal a year. They'll be down to zero at this rate (can you do a half a deal??? why not -- that's a condo, ain't it?).

Keep zooming back, my faithful companions. We will begin our town by town reviews...but WAIT, there's more...

...I will be at the House of Blues, sitting quietly for a change, but a couple of venues have asked me to return to the stand-up mike -- and I shall be doing so shortly. Now ...there's no more (change the channel, please).

Agents are full of S**T Redux, Redux as in again

2010-03-25T14:01:00.000-04:00

'nuf said?... read on
By State House News Service
Belmont Citizen-Herald
Posted Mar 25, 2010 @ 01:02 PM
Boston, Mass. — Completed foreclosures in Massachusetts fell 19.6 percent in February, compared to January, but were 10.4 percent higher than in February 2009, according to data released Thursday morning. Also, foreclosure deeds jumped 13.8 percent to 2,058 in the first two months of the year from 1,809 during the same period in 2009, the Warren Group reported. Foreclosures started by lenders in Massachusetts in February were up more than 13 percent over January but down 7.5 percent from a year ago, according to data released Thursday morning. Over the first two months of 2010 foreclosure petitions – the first step in the foreclosure process – are down 6.1 percent from the comparable period in 2009, according to The Warren Group. “In the last six months, an average of about 2,100 foreclosure petitions were filed each month. That’s a pretty high level, but the pace is much lower than it was in the early part of 2008, when lenders were filing an average of about 3,000 petitions to foreclose a month,” Warren Group CEO Timothy M. Warren said in a statement.

Copyright 2010 Belmont Citizen-Herald. Some rights reserved

Liquid Assets in Waltham

2010-03-24T07:57:00.004-04:00

Ms. Flanagan, my thoughts are with you today.

For those who do not know Ms. Flanagan, she is the Berkley St homeowner who is, well, not living in her home because the home moved...yes moved...about a foot, so the FOX news folks tell me, OFF its foundation.

Why did it move? Seems, 'though I am no engineer, it "trolleyed" off its cement track because of the recent storms that brought oodles of rain, followed by doodles of more rain a few days later (actually yesterday).

I cannot say how rain can "push a house", but I am reminded of the earthquake term, LIQUIFICATION. This is where the ground, normally harder that a sixty-year-old coot over dosing on Viagra, gets pushed, cajoled and shaken enough so that is gets soft (like the coot after his 2 minutes as Lord Lochinvar, or George Clooney). It may well be akin to when you kick a hard clump of dirt and it breaks up in to a gazillion little pieces. In that state of being, the soil no longer can hold the man-made edifice upon it and things shift, or fall down as the case may be. In Ms. Flanagan's case, water may have softened by the whole thing and, the rest is "moving".

The news reports that the Flanagan home is not in a flood zone (I know the street) and I would agree from my unprofessional view, but I would also conjecture that the forensics of the situation will point to GROUNDWATER issues, and that would not be covered anyway.

At all rates, my heart goes out to them and I wish them well. I would hope there will be no tears shed -- there has been wnought water...

Agents are full of S**T -- Redux

2010-03-19T08:15:00.005-04:00

Yesterday (see below) I put out some stats on Orders of Notice in my corner of the world, YTD versus last year for the same period. They painted a grim picture "malgre" the rosy smiles of the "housewife home hucksters" who daily run about hawking homes whilst "habidashing" about the kitchen curtains.

I was asked by many for some support of the numbers as they were from "only a small sample" of towns.

Herewith, I pick Suffolk County -- That is BOSTON, REVERE, CHELSEA, WINTHROP. Here goes...

1/1/10 to 3/18/10 560 Orders of Notice.
1/1/09 to 3/18/09 194 Orders of Notice.

As far as Middlesex South goes...

1/1/10 to 3/18/10 745 Orders of Notice
1/1/09 to 3/18/09 202 Orders of Notice

'nuf said?

Agents are Full of S**T

2010-03-18T08:19:00.008-04:00

Here in my corner of the world, the next time your bubbly agent tells you how great things are in the world and how that world will only be greater for you if you buy this home "TODAY!!!!!!", ask that agent of yours about "ORDERS of NOTICE". Now, mind you, they probably do not know what those things are. My advice in that situation is to get another agent, FAST! Just call me, actually.

That is an order of notice over yonder the right there. Not a pretty thing I would hazard (privacy information has been blocked out), AND, it gets uglier as one learns about them.

Herewith is a small primer on what we will now abbreviate as OON:

An OON may be considered an solid indicator of foreclosures coming up. It is a required document filed at the Registry of Deeds that notified folks that their lender is going to foreclose on them. The OON is required because any person in the military can seek relief under the Service members Civil Relief Act (one rightly cannot foreclose on a bloke shooting down some scum bucket who wants to do harm to Americans).

An now, hers are some stats to ponder.

Looking at this year to date (1/1 - 3/18) there have been in "my" areas (Belmont, Arlington, Watertown and Medford) 66 OON's plopped in mailboxes of sinking homeowners; 37 of those are in Medford, by the way.

In the same period last year, there were 14!...Yes only 14 (11 in Medford).

That is a big clunk. When one thinks of all the foreclosures that have been laid to rest, and these numbers coming up that ARE NOT in the stats,...well conjecture is worth a few moments when next we "latte at Starbucks".

What does this mean? Well, we will expand our stat collection and see if the patterns are "All over the board". Then, we will be better able to discern if your happy agent is full of S**T, or completely down and out of the crapper already.

"Ducking" the Weather

2010-03-15T07:23:00.001-04:00

There are ducks swimming in my backyard...not in the little pond at the northwest corner, but in the yard where, at about this time every year, I begin the annual toil of planting happy grass and expunging, well, crab grass. Not today.

It appears the water table has risen above the banks of the pond, and the pond has made ownership of a substantial swath of the yard. I noticed a fish in a place that would normally make it a "fish out of water". I had hoped the little adventurer wold submarine itself back to the deeper climes of the pond, but sadly, that did not happen;...an aquatic squirrel tip-toed through the shallows and made a "canape" of the "carp."

Many open houses on this Sunday just gone were "called on account of rain." Brokers, deciding to put valor in the "bottom drawer", felt it best to "close for the day" rather than have to explain to a doubting public that the "wet basement is ONLY during unusual rains" such as these. I kept my open house going: I had not problem facing up to the sceptics about the seepage...no problem because NO ONE came.

The high school is closed today. Flooding. A few other communities are suffering the same fate. Not the flooding but having teenagers with a day off and nothing to do. I suspect the "little darlings" will spend it nursing cheap beer out of paper bags behind the Dunkin Donuts on Trapelo Road, or behind the library if the babbling brook there has not overflowed its banks. The town will fairly glow with beer cans reflecting in headlights by tonight.

I'll be out showing some properties. Let's take advantage of all this. How much off the list price can we get for a sopping basement? Time will tell....

So that's the way things are in my corner of the world in these rain swept times. Time to put on the flippers and check my own basement.

Sellin' the "Crib" for a new career

2010-03-12T08:06:00.002-05:00

The caricature to the left is of the Salwens; Mr. and daughter Kevin and Hannah. It appears on page 23 of the March 15, 2010 of the New Yorker. The Salwens for those who have not heard are, now (at least for this week), writers with a successful book, and wanderlusts on a successful book tour bringing in the dough. Their book, The Power of Half details their story and subsequent "journey" spiritual journey, that is (oh brother!), not the book tour pay per speech journery tour that brought them to New York recently from their backwater hovel in Atlanta (actually it was an $800,000 home with an elevator, YES an elevator but why haggle).

Your see, the Selwens have this precocious (some would say obnoxious)daughter (that would be Hannah), now 15 or so, who, in 2006 as the family stopped at a red light, saw two men: a homeless rummy to the left and a rich folkster in a Mercedes to the right. She posited that if the guy to the right in the German car did not have such a good car (read that as not all the money he had), the rummy to the left would be able to have a meal (read that as government hand-out).

Ahhh, says the moron father...yes, but but but, and the kid says NO BUTS WE NEED TO GIVE IT ALL AWAY so that the rummies of the world can get to Burger King STAT! The father should have cut it off right there telling the kid she has no business suggesting the dispersal of HIS hard earned samoleons. Ditto, the father should have cut it off right there by telling the brat that, perhaps, the guy to the left (rummy) should ask the guy to the right for a job, and that what the kid is proposing is communism -- from each accrding to his abilites to each according to his needs. But Karl Marx NEVER did put together a best seller on that score (and it appears the Salwens have; see Barnes and Noble), but that is getting ahead of our opus.

To make that long story short, the Salwens SOLD their home for $800k, elevator and all, and gave half dough away to some seed eaters in Ghana (what ever happened to that Atlanta rummy right around the corner from them?).

And now, they are on the book tour.

We posit a few points here:

At first I was pondering saying what a true moron the guy is, but hey, the guy's got quite a financial head on his shoulders. Wealth is all fluid -- Look at it this way...he sells the ranch for a good a good bowl of rice, puts on the sneakers and runs for the hills. That's one way around the housing crisis.

But even better, he invests HALF of what he sells by dumping it off to some cuckholds out of the country (out of the country because inside the U.S.A. we could actually see how useless it is to give money to porch-sitters). I say "invests", because he writes the book about the experience and now he's rolling in the dough from Amazon, B&N, and all other sorts of cash registers, doing the tours, doing voice books and becoming a celebrity of the benificent type, just like that little girl who wrote a letter to Gorbachev in the 1980's (by the way, that kid died when she was about 13, I believe, in a private plane crash on way to a publicity event).

There is a moral to this story:

There are many folks who've come forward with interesting ways to sell a home and maximize profits in these hard times -- staging, loan take backs, point buy downs, rent-to-owns, who knows?..., but this guy wins the contest.

He sold his house for a best selling book writing career.

Bravo

Wheel Estate Redux

2010-03-10T08:02:00.000-05:00

I have been driving a Yaris these days. It appears to be, at this point at least, the only car that has not been recalled by Toyota.

Perhaps my Yaris is truly a super car, but perhaps there are other reasons for no recall and herewith are but a few speculations:

There are but a handful on the road. The numbers sold are counted in tens of thousands, not in millions like the Corolla. Perhaps Toyota forgot to recall them.

I paid a mere 13k for the jalopy. I suppose, if there is something wrong with the chariot, just dump it out on Monday morning with the rest of the recycled cans and plastic (the Yaris, I have been told, is made of aluminum recycled cans).

And, perhaps, anyone riding around in a little car made from Dr. Pepper metal deserves to die, so no bother for a recall.

Yet, as I go off to present a property, I am confident that the brakes will work at 30 MPH and the car (unlike the Prius) will not get stuck at 90 miles per hour (I doubt my Yaris will crank out 60 MPH without the hubcaps falling off).

Now I know what you all are thinking. Does he not look like a fool driving up a sales meeting whilst driving a Tonka Toy?! Where is his sense of status, his sense of lording over the baffled customer; the shock and awe of a BMW?

Ahh, yes, I have addressed that. You see, in this age of less is more, or if not more than just the best we can do, I feel the BMW or any other Luxury car from one of the former AXIS countries bespeaks a pompous and out-of-touch message. Unemployment is rising and this chump is driving up in a Lexus -- a new one??? -- damn I'll be damned if I'll give that parasite a lick of business.

Ahhhhh, but as I drive up in the Yaris, clean and shiny humming of cheap gas consumption, I am ever asked, "What is that little thing?"

A Yaris, I posit. Gets me where I need to go fast, easy, and simple. I can park it in the smallest of wedges. I am in and out. And with my business booming right now, I need to move, and move fast. Now how about this home...let's take a look and see what it does for you, shall we?

Status symbols are everywhere --- just remember symbols say, hard workers DO.

Don't Cry for Me, Agent Tina.....

2010-02-23T09:48:00.000-05:00

Yesterday, being Washington's birthday, I decided to plaster a bit of personal honesty on Facebook -- that rightly maligned piece of crap that the kids use to coordinate their drug deals all the while being watched by B&E folks looking for a sap to tell the world he is on vacation for the next 5 days...

My bit of honesty took the review tense. It noted that I HAD been gone for 9 days. It opined that "nobody" noticed.

Today, as I check emails, messages, calls, letters, carrier pigeon guano, and all other manner of communication avenues, it is clear that my "nobody" opinion was a tad off the mark.

Herewith are a few comments that came by the assorted info-hiway splatters:

"Are you dead?!?!...I heard so, call me if you are not."

"Hey baby, you lookin' for a good time in Woburn?" (Emailer had the a wrong addy -- that's what happens when you drink mercury instead of margaritas.)

"Hey, it's me...call me, ok uhhh, I was wondering about that house." (Who are you?)

"Hey, it's me...did I just call you or did I dial wrong? OK so either way, call me."

"I'd like to order a..." (We cut that one off right there.)

"Msng U in Woburn. (What's going on up there.)

"OMFG whre hv U gone?" (Joltin' Joe has left and gone away)

"I was wondering if I can set up an appt to meet with yu and see if you think I can sell my house in Belmont" (I actually responded to that one while I was in Southern Climes)

"Viagra Cheap!" (I don't want the Viagra to be cheap...I want the DATE to be cheap!)

"Hi this is Tina from XXXXXX Realty, I mean Betty, Bettina, Elizabeth, Liza...god so like I can get so many names out of Elizabeth, and I forgot which one YOU call me, so call me." (For the record, I call her "BETH"!!!!!!!)

I guess I was missed after all...

Con-DUMB-iniums Redux

2010-01-12T16:32:00.001-05:00

Thought I would repeat these words of wisdom scribed long ago. It seems some in Belmont have not learned the lessons. Read on....

Condominiums have been around for years, and they have played a vital role in the housing, well being and financial dealing of folks all around the country. My own forey in Condo land began and ended happily. I have nothing but fond memories of that little slice of heaven (very little -- 330 sq ft.) I called home in the North End of Boston.

But there has been, in the last ten years, a newer trend in Condo conversions: the two-family conversion. This ditty, while it has all the wrappings of the 10, 20 or larger editions of the product, is unique in that -- well it is 2 units. I have seen documents put togther by quick sell 2 family owners that leave much to the imagination. Lots of questions, lots of fights.

You see, good readers, the larger condo associations operate like little city states. The citizens of Athens get together and Aristotle tells everyone that the building needs painting. Plato says something about the paint has to come from the stars, and Socrates is just trying to get everyone to vote before he has to limp off and take poison. They vote and they do -- or don't paint.

The 2-fam condo is more like a marriage. Ponder it: the two parties live in the same structure, have the usual domestic quarrels, deal with the breakdowns and leaks, squabble and spat over who should do what and, in general, are on their own in the cold cruel world. Yessir, a lot like a marriage, except you probably will never get a chance to see the other party in the arrangement naked.

Come to think of it, the 2-fam condo is more like an ARRANGED marriage; the papers are passed the money flows. Then you meet the other party (where, at least in the arranged marriage, you WILL get to see the other half naked).

But, few and far between are the arranged betrothals these days, and I should hazard that 2 Fam unions should be entered into with all the sanctity of an espousal made in heaven, not "Vegas".

So herewith, a few observational pointers for any dear readers who may be pondering "getting down on one knee" with Offers to Purchase in Hand:

1. Meet the other owner -- If this is "not possible", then run...put yourself back into the dating scene. Buyers who like a home will spend time cruising around the neighborhood, getting a feel for the whole environment and its people. Why not do the same thing for "the people" living under the same roof as you?
2. Know the structure. -- Everything should have accommodations. Firm up the holes over how things are paid. No round to-its, -- as in "I'll get around to it". Cut those schedules into stone and stick to them.
3. Know your electrical lines, especially in the basement. Know your water lines, especially in the basement.
4. Let the other party know when you are doing work on your part of the plantation. Even if it is simply painting, let them know. Smells permeate. If it is piping, wiring or any sort of invasive improvement, make sure all work channels through common wall space. If you plan to sand your floors this Tuesday, first make sure that the better half in the bottom unit did not just get off the Swing Shift at Raytheon.
5. After having sanded those hardwood floors, do not take up tap dancing.
6. If it does turn out that your marriage is not one of heaven and you falter in the above or any other areas, keep my number, (617) 470.8085, close by. I have lots of intimate "singles" waiting when you and the other half bust up. You may not get a chance to see anybody naked, but at least you will be able to leave your dirty laundry in the basement.

The Land that Time Forgot -- Waltham Real Estate Review for 2009

2009-12-31T09:47:00.000-05:00

Did you get the pun up there in the title? The play on words? Time? Waltham? Waltham Clocks. Get it?...Ahhh never mind.

Be that as it may, Waltham was certainly the "land that time forgot". Did the economy over the last few years forget to give the kaibash to Waltham? It would seem so.

In 2009, 236 singles went to the "deed shop". That is a dip from 2008's 265, but the average price of those 2009 homes banged out to $412,000 versus 2008's uhhh, $412,000 -- the same "nada" difference. Also days on market changed but a wisp of a hair in the windmills of time: 82 days for 2009 against 85 days for 2008.

It appears Steady Eddie lives in Waltham. I doubt there will be much change in the new year. Based on these numbers we can predict how the market will be. So accurate -- you can set your watch on it.

The Good, the Bad and the Arlington (MA) Sales review

2009-12-29T07:13:00.001-05:00

With the hour glass fairly tinkling the last sands of 2009 away, we can report that there were 141 single family homes sold in Arlington in the year (a few more may pop in). Average price was $495,000. This sets out at about 9 grand below asking (call it 2%. This compares out quite well to 2008 where the average price was $483,000 (12k less than '09) for the 115 homes that changed hands. Prices were UP and unit count was UP -- a lot up on the unit count; 22% up on the count, in fact

To the casual observer, it may not seem like there was ssoooooo much action. Casual observers judge action by signs -- how any signs are up and how many come down. I do look at this with a small calculation that I call "signs days". It is a bench mark that takes the number of sales in the year and multiplies it by the days the sign was up from beginning to listing until the day the home went sold. For 2008 those 115 sales took an average of 60 days to sell -- that works out to (115*60) 6900 sign days. For 2009, the 141 sales averaged on market for a speedy minimal 48 days or 6758 sign days. The Casual "looker" did not see any difference in the signs posted on the by-ways of Arlington, hence, a splendid home market has not been made public -- except to we few proud and happy Realtors marching through Arlington.

Don't Turn on the "Waterworks" for Watertown

2009-12-24T11:00:00.000-05:00

Don't cry for me Watertown...so the Watertown agents should say.

In 2009 (so far...a few more may slip in), 78 single family homes were sold. This compares slightly to the good to 2008 when 75 "castles" changed hands. Not only that, these castles traded out faster than in 2008. It took 60 days for the lord of the Watertown manors to divest in 2009. In 2008 the lords and ladies had to wait 82 days for their vassals (agents) to get the job done.

As far as pricing goes,...it was a tad to the bleak, nothing like the Black Death of 1348, of course but average prices were a dip from $463,428 in 2008 to $455,707 in "09". $8,000 for a drop is nothing when compared to the whopping of a whack taken in Belmont where (as noted yesterday), the average palace got "pillaged" for about $70,000.

We may have assumed that demand for homes in Watertown has to have been buffeted by the $8,000 tax credit to first time buyers, but that does not seem to have been the case. 30 of the homes sold for under $400,000 in 2009. A look at 2008 shows that 32 homes sold for under $400,000 when the tax credit programs first went into action. In 2007, a scant 25 out of 93 homes sold were in that price range (average sale price $484,424 in 2007). The "stats" do not fully define the issue.

It may well be, after all is said and done, education: seeing prices not dropping from 2008 to 2009 brought the skittish buyers out and days-on-market times shortened. But who knows for sure?...no one...not even Santa.

Pick a Number -- any number (Belmont Sales in Review)

2009-12-23T10:39:00.000-05:00

We know, we know...there are a few days left to 2009, and one or two sales may drop in before folks put on the lampshades and dance on tables in anticipation of 2010, but at the risk of jumping the gun, we feel it is nice to put out the sales report for Belmont.

In 2009, 143 single family homes changed hands. This compares to a scant 120 homes in 2008 (Whoopee!!!). Brokers and sales folk will pick that number and tell you the market is up up up by 18% or so. But let us look at a few more numbers...

The brokers had to do Wheel Estate a lot more in 2009...The average home was ON MARKET for 94 days in 2009 against 81 days in 2008. Now I know you folks out there don't care about the wear-and-tear on some agent's Lexus, but holy cow!...all that tootin' up and down Trapelo Road sure puts the cooler in a "wage slave's" Starbucks coffee.

And what with all that driving about, those 143 sales did not churn up the payola per house to the agents as it once did -- the average single family home in Belmont was listed for sale at 764,000 (+/- a few bucks), and sold for 731,000 (+/- a few samolians). In 2008, the average home went on market for 836,960 and passed on to new owners for 801,107 (exactly). That's a 9% drop in price, kiddos!

Looks pretty bleak, eh?...but let us gander to the bright side. Those 120 sales in 2008 grossed out to $96,132,840. If you take a ball park figure that an agent, after all is said and done, comes out with 1% in his or her pocket, then the Lexus agents in Belmont drove off with a collective $961,328 for coffee and new tires in 2008.

In 2009, those depressed sales sold by those depressed souls "overdriving" their Lexuses (Lexii?, perhaps) racked up a gross value of $104,529,711, with the agents pocketing $1,045,297+/-. That works out to a collective 9% INCREASE into the collective glove boxes of "them thar Lexii".

So more sales, longer time selling, and lower prices give us what? Pick a number and you tell us what you want to say about the Real Estate market, but...you can be sure as shootin' the agent's number is on the check.

To My Friends, Associates and Clients...

2009-12-17T08:15:00.000-05:00

...from yesterday, today and tomorrow...

It is a bit scary out there; uncertain and unsure, but we will get by. Stick to the plans you've made...

...and especially to my enemies and adversaries, I must say, "Give me a call; we'll talk it out" and if you're still steamed over it, well...at least we tried.

My best "You" to All.

First Time Buyer in the Swiss Alps

2009-11-24T08:30:00.000-05:00

I am with this young pup of an agent, and he just wants to tag along and tag along. He is taking notes; notes of everything that I do. I spy, on one of his little sheets, a marker in the midst of some scribe he has jotted. I ask, "What does that mark mean."

"Oh, that," he says, "it tells me when you took a breath..."

OK, I think, he is a cross between a psychopath and a boy scout, but then again, so long as he's making those marks, I am breathing so...

I try to break away, but he keeps coming. I am forced into my first white lie of the afternoon:

"I have to bug off now. I am taking a class."

"Wow. Cool," he says, "A class in what?"

I am a tad speechless by his insinuation into my person life, yet in an effort cut cut him off with good humor, I posture this little joke:

"Yodeling," I say. "I am taking a class in Yodeling", and I walk off...BUT

He is not done...It seems he did not get the joke, for he continues: "Cool, like where do you do that?"

And I am forced to posture, "Well, why...at the...ummm...at the Boston Center for Adult Education...of course."

"Wow, really neat, I did not know this stuff happened..."

Now I am forced to go on the offensive until he gets the joke:

"Well you see, Yodeling is not to be taken lightly. it is just not squawking! There is the syllabic part and the inflective part, and if either is not done correctly, you can start an avalanche! For example, take the syllabic 'Yodel-aye-ee oh!' -- very terse and sharp. Your have to smooth into it, but most people cannot do it...and bang! hitting it too hard and you've got a mountain slide! Let me demonstrate a smooth entrance to the oft quoted 'yodel-aye-ee-oh'....'YODELEETEE-YODELAYETEE-Yodel-aye-ee-ooohh.' Smooth, eh?"

He IS impressed and still believes it all, but his text messaging kicks in and he finds his pimpled teenage bride flacking out the OMG's and CU LTR's and ILYSM's and so ons and so forths. He is gone, and I am free.

This believe everything sucker is gonna go far in this world; that is for sure. He has to...all the way to Europe. Before he left, I sold him the entire north side of the Matterhorn for a song!

Happy New Year?

2009-11-09T08:33:00.000-05:00

Low and behold; in my corner of the world agents are celebrating "Realtor New Year" on November 19. To the outside world, this might seem a bit strange -- a bunch of agents cavorting around the neighborhood, happy smiling celebrating taking tme off -- wait a tad, they are like that all year! So what be the reason for this date, and I may add, the flurry of activity going about as they get ready for the horns and hoopla on the 19th?

Agents in these last few days before the BIG 19 have been out in force trying to get a "deal" in. "Ya wanna buy a house?" Hey buddy...yeah you...c'mere...looks like you needs a house for a good time...You get the pitcure. Why why why?

Ahh, dear reader, the answer lies in the calendar... Let us look. 31 days in December plus those days from the 19th through the 30th of November, that makes, let's see 1, 2 3...12. Add that to the 31 and you get 45 days.

AND 45 days the benchmark used by agents. From the time an offer is written until the "papers" have passed is a standard (so we try) span of 45 days. Get some shnook to sign on the dotted line on November 18, and you get your agent check on December 31. Ink the contract on NOVEMBER 19 and BANG! 45 days later your agent commission check is there -- IN JANUARY! Happy New Year.

I should wonder about this, and how buyers and sellers are served by this and the countdown to moneymoneymoney, but, as an agent told me, "So long as the clients don't know, so what?"

OOOPS I just told you! And now you know something new about your agent. I just hope your New Year's Resolutions include learning something new.

Happy Birthday Internet

2009-10-29T14:45:00.000-04:00

Forty years ago today, a message "lo" was sent from the University of California to The Stanford Institute. It was the FIRST Internet message (Al Gore was NOT there). With this in mind I look about the Real Estate world and what do I see? Nothing. Nothing has changed. In fact in spite of what they say, 89% of buyers go the the broker they know, not the one the Internet. Internet sites may give someone information, but when it comes to hard knocks, folks are knocking on the local doors. So keep on texting folks, everybody knows my name (and my face well, in the flesh). Its all good for business here on the cement highway...

"Swine" Flu

2009-10-09T09:19:00.000-04:00

What with all the the talk of the above noted malady, there seems to be a trend towards NOT shaking hands. This, the idea of "shaking hands" in itself, begs a full article, what with countless pointers and directions about time, speed, and intensity of grip all playing into the A, B, C personality crap, but herewith, we are focusing on an singular episode. Read on...

Yesterday, I was asked to escort an agent to his new listing -- a BIG home; grand in all scales, not the least of them all was its age as well as the age of the owner. The owner, an elderly matron had, it seems, raised a whole family of children in the home. Those seedlings, now all sprung to full bloom in diaspora fashion across the globe, and husband, now gone to reward, the elderly woman decided to put the home on the market:

"Such a big home for such a small old lady," she said as my young agent friend brought me forward.

"Mrs. XXXXX, I want you to meet Al. He's my mentor, a great guy who knows everything about this area."

"Hello," she says, with a stern look of motherly scorn.

"Pleased to meet you," I say and I reach out to, yes, shake her hand...

"Heavens no," she says, and she recoils a feeble step.

"Oh, I am ever so sorry," I aver, "what with all the talk of swine flu and shaking hands, what must I have been thinking?"

Just then she applies: It has nothing to do with swine flu, young man. I just do not want to shake YOUR hand, now or ever! You were a bad boy, a bad little boy...do you know how long it took me to get those stickers off the bathroom mirror?!?!"

Stickers, bathroom mirror...oh yes, Bugs Bunny, Foghorn Leghorn, Yosemite Sam, and yes Porky Pig...I just have been 4 years old when I visited a strange home, for what reason I shall never know, and in a moment of childhood creativity, found some stokers in a room somewhere and plastered them all over a mirror. IT WAS THIS HOUSE!

"Bad boy," she said. You left without telling anyone. You deserved to be fully reprimanded. You were a sloppy dirty little pig of a child. I hope you have corrected yourself!

I am, again, 4 years old.....

"Now go...," she points to the kitchen, "in there, on the counter is aplate of fresh cookies. Take a napkin, and NO crumbs, I say!"

And this as picked up from AOL this morn...

2009-09-24T08:05:00.000-04:00

Maybe I should open up a category for Garden "tips" for this one, but for now, humor will do just fine, thank you...

"Couple Reports Garden Stolen by Neighbor"

"A couple who moved abroad returned to their Staffordshire, UK home to find their backyard garden had been "stolen."

"Linzi and Phil Wood claim that while they were at their new home in Lanzarote, their entire garden -- including the shed, plants, plant hangers and path rocks -- were all moved to their next door neighbor's yard, a story by the Daily Mail reported. Even their flowers were replanted next door, the story said.

"The Wood's, who are trying to sell the house, claim their neighbor said he bought a ready-made garden from a third party, not realizing that it was coming from their home, the story said. Police are investigating the theft."

A Self Serving Call to Action

2009-09-16T07:22:00.000-04:00

The below quote came to me from my lobbying group, the National Association of Realtors. One wonders about these things. It is a plea to keep yet one more bail out going. The famous $8,000 to first time buyers is, after all just another bailout: it gives 8 grand to folks who may not deserve it and take it away from those who earned it (in the form of more debt to pay in the future -- which will be paid by rising taxes). At the risk of losing the love of my fellow agents, I say no; no to any of this. Let us all work hard, try hard, take a bit longer to recover, if necessary, but let us stop this govenmant mandated re-allocation of wealth.

Read the text:

"We have all seen first-hand the positive impact the first-time homebuyer tax credit is having on the real estate market recovery. As the expiration date for this successful program looms, we ALL need to make sure that Congress hears from us about the positive impact this program has had and ask them to extend it, and expand it, so that we can continue to see our markets fully recover."

Back to School Redux

2009-09-05T09:55:00.001-04:00

A lot of folks in my corner of the world seemed a bit put off by my flippant remarks and clear joy at the return of school. Unapologetic to the end, I hearwith join my Navy heritage to the return to school. Let's all sing along to the tune of "Anchor's Away!"

My kid's away, thank god!
My kid's away...
She's off at boarding school
for Ninety bucks a day ay ay, HEY!

'Though it's a lot to pay,
no gripes you'll see.
'Cause if there are,
then they will
ship her back,
they'll ship her back to me!

In My LIttle Corner of the World

2009-09-02T08:16:00.000-04:00

In my little corner of the world, the kids are going back to school. Today... Yesterday, you could sense the emotion; the little ones were out in force on the nice day, soaking up the sun, trying to get in the last bit of play. I spent much of the day in a park. It was interesting to see the dynamics: for the kids, gone were the camps and rules. Left to their own devices, they made games out of rocks and sticks, jumping and running, scoring on a point system that was duly invented for the moment and is now forgotten.

There seemed to be more bicycles out and about on this last day. A few kids were testing out new sneakers. Some older kids, high school bound, were jockeying for position on the bully ladder, using fashion the way, in my day, they used a fist.

Some parents are tearful as that whole "sunrise, sunset" thing kicks in. Others are thoughtful at the "circle of life" gig going on. A couple skulking in the corner are fully giddy at the prospect of the kids gone -- they are having an affair.

In a few days, the patterns that will dictate our lives will full into place, and we will all move on, a bit diminished by the last summer gone in a fast declining decade.

For those of us in real estate, the fall means a return to business: folks will re-assess themselves, make "New Year" resolutions and wonder, wonder about what to do next. Homes will be marketed, and homes will be sold.

So it goes in Belmont. Summer comes to a crashing end. This morning feels cold, although it is, according to the weather service, just like yesterday. But take heart -- Labor Day is just around the corner.

60 Onley Street, Watertown by the numbers

2009-08-14T13:26:00.000-04:00

A Fabulous Opportunity up and down the line! Open House on 8/23/09 12-1:30. Se you there at 60 Olney Street, Watertown, MA. Just click the title link above for full information.

Change with the Coffee

2009-08-01T08:05:00.000-04:00

Sitting in a coffee shop milking a refill when this lady gives me the eyeball. At least I think she's giving me the eyeball; she may be just trying to read the artist's name on the painting crucified on the wall just above my head. What ever the case, it behooves me to play non-chalant; go into "sipping Martini mode" -- get the posture up, Dean Martin myself!

It does not take long before she's on the move. Now mind you, this bean emporium is the size of some bathrooms, 5 tables and a counter (ya want a men's room? go across the street to the hardware store), yet it seems to take forever for her to cover the six floor tiles that separate the two of us.

Now, after a vortex of eternity, she's "in my space" and I have turned on the charm button.

"Nice picture," she says, and I look up at the painting... "No, I mean here, on your promo material", and she lifts one of my fliers out of her somewhat well used Gucci. "I've been getting your stuff at my place for a long time now. I like the way you actually look like your picture...I was going to call you, but I saw you here and figured, why not, how nasty could he be? the worst he could say is 'no' and send me to make an appointment at his office."

I allow her a seat.

I'm thinking Playboy moment here just as she chimes in with the "411":

She's into a condo bought in 2004. She's out of a job. She's got trouble. In a nonce, my Playboy moment is gone, and in my mind's eye and I am now flipping through the Economist as I give her the skivvy on ways and means for her.

"God," she says, "What should I do first?" Her voice betrays the butterflies in her gut.

"It is Saturday," I remark, "do your laundry,... groceries,... go to the beach. That is what you should do. Your world is NOT coming to an end; it is just going to change, that's all. We'll talk on Monday."

"Funny," she says, "I feel better, somehow. I'll see you Monday, afternoon OK?"

...and so it goes on this early Saturday A.M. in a coffee shop in Belmont. The waitress took my money and returned with my change. I left it on the table for her as a tip. A lot of change -- for a lot of people.

And they wonder why they can't afford a home...

2009-07-16T14:38:00.001-04:00

Oh please click on the link. No doubt the housewife bloggers (Bored Lazy Overwight Gals) will pick up on this stuff and get hubby to shag down for this crap in the name of essentia. I can almost feel the chubby fingers of the Oprah babes pirating the words to make up their own articles. So take the link babes!!! Save energy. Maybe you can have a bit left over tonight to do something nice for hubby (like a job at the 7-11).Junk for Baby

Sold Fast

2009-07-06T10:12:00.000-04:00

14 Days to get 5-7 Bancroft into line. A bit of work on the offer; some pushing and shovng trying to get the price down after inspection, but, well, ya see, they got an "Owner's Statement of Condition" when they made the offer. They sigened it. So, uhh well you know -- no dice to the adjustments...everything works out in the end...

People of Color

2009-06-23T08:20:00.000-04:00

I knew that would get your attention and/or the attention of any flak, PHD or member of an organization that has 4 letters for a name or an acronym that they think is clever...

...but, see here, we are in a different mode, and it is the bad behavior of the reader that gives the negative vibes in the above title. We are, in fact, talking probability and chance.

It seems, a few days back, I had the pleasure of meeting one Sebastian White. An ordinary chap, he is looking for an ordinary home in an ordinary part of the world. What would be the chances that a home of interest to Mr. White would have an absentee landlord, and the tenant living in that home would be -- get this -- Sebastian GREY!!! Add to this my meeting up with a wonderful family, the Brown Family; a member of said family is their ever active son Sebastian (yes Brown).

I postulate to you now, readers of innocent and illicit thoughts, what are the odds of meeting THREE Sebastians with names popped out a box of Crayola?

I think there is a sign here. Perhaps I should look for homes on a Sebastian Street somewhere, or maybe there is a horse running somewhere with the likes of Sebastian's Drive in its program sheet. Or maybe it is just dumb chance -- nothing cosmic. Whatever, it does make you think, it is a good Day for a Daydream especially if you believe in magic -- wait! those are John Sebastian songs...

Something from the Boston "Globe"

2009-06-11T11:06:00.000-04:00

Just to let you know how much EVERYONE is feeling the pain...

"BOSTON – A real estate agent says a resident of Boston's upscale Back Bay section plunked down $300,000 to own what is believed to be the priciest parking space in the city's history.

"The winning bidder was not identified. The Globe reported that the seller of the parking the space is also trying to sell a two-bedroom suite in the building for $2.5 million."

Beauty is in the Eyes of the ... Pot Holder (Not What You're Thinkin'!)

2009-04-25T07:18:00.000-04:00

Beautiful home. But it was the kitchen that did it. The walls covered with exquisite examples of the implements of crockery down through the ages.

"I decorated it all myself," the owner exudes, "Used things from my collection. This one is an iron pot from the Mybasa tribe,...oh this one -- a fragment -- found in a dig in the Chesapeake Bay: at first we thought it was Delaware Indian, but it might well be Pre-Clovis. We are going to get a mold replica made, then we'll send the original to the Smithsonian.

"OHOHOH, this one! Used to boil an egg for President McKinley. And this stained glass -- purchased in Rome. We had to do some touch up painting. It does cut out the bright sunlight, but just look at the subdued dark and the flashes of color!"

Great, I tell her and we move on to see the rest of the home. It is a good home; shows well and is pleasing to the eye, what with all the cooking regalia tacked to the walls.

So it is that on the same day, by pure coincidence, the following appears in the local rag, the Belmont Citizen Herald .

"POLICE LOG Wednesday, April 15 -- An employee of the Belmont Housing Authority reported the they [sic] were concerned about a Trapelo Road resident's mental wellbeing [sic] after finding that the resident had painted over all the glass panes in the apartment's windows, and glued pots and pans to the walls. The resident was involuntarily committed to Cambridge City Hospital."

As we noted. "Beauty is in the Eyes of the Pot Holder".

First Time Buyer; Third Time Perp

2009-04-22T06:50:00.000-04:00

This from a "Newbie" agent who came to me seeking comfort and consolation:

"I got the e-mail requesting info. It came from my website! Finally, that site paid off!

"They were interested in a house in Watertown or there abouts: 3 Bedrooms 2 baths. Did not have to sell current home -- first time buyer.

"Sent out some ideas, wheedled down to a list then made for the "let's set up an appointment'. thing. No response. Sent out some more stuff. Got back questions on homes, like have I been in them, what is the neighborhood like -- is it quiet?, streetlights at night?, traffic?, you know.

"Gave them all they needed. Asked them to come into the office for a 'meet and greet'. Nothin' Nada.

"Waited a few days, then sent off an email. Got back something to the effect of, 'Due to the suspicious nature of this inmate's email correspondence, this inmate had had his library computer privileges revoked until further notice.' I was given a number to call at the local penitentiary.

"What should I make of all this?"

Poor newbie. Can't tell her what to make of it, but I can say she won't be making any money of it. It all goes to show -- Real Estate is Local and face to face. All the virtual highways in the world aren't going to get you that good buyer or seller, it all comes down to face time...unless you're looking for a cell block.

A Toot of the Horn to Belmont

2009-04-17T09:27:00.000-04:00

The NAMM (National Association of Music Merchants) Foundation today (April 16, 2009) announced the results of its tenth annual “Best Communities for Music Education” survey, which acknowledges schools and districts across the U.S. for their commitment and support of music education in schools. As the economy challenges state and local school budgets to adequately support education, the 124 school districts named by the NAMM Foundation demonstrate the unwavering commitment to provide music education for their students. The NAMM Foundation’s mission is to ensure that all children have access to quality music education programs that encourage lifelong participation in music making.

"The potential of music to help children reach their full development is understood by the school districts represented in this year’s survey results,” said Mary Luehrsen, executive director, NAMM Foundation. “We celebrate these communities that are committed to providing access to music education programs and bettering the lives of their students.”
The 2009 survey, which opened on Thursday January 15, and ended Friday, March 13, was available to all districts nationwide. This year, teachers and school district administrators, representing communities across the country, participated in the Web-based survey. The districts were measured across curricular and programmatic criteria as well as public support of their music programs. The survey was developed and administered by The Institute for Educational Research and Public Service, ! an affiliate of the University of Kansas.

Participants in the survey answered detailed questions about funding, graduation requirements, music class participation, instruction time, facilities, support for the music program, and other relevant factors in their communities’ music education programs. The responses were verified with district officials, and advisory organizations reviewed the data.
Throughout the survey’s ten years, many districts have reported that making the “Best Communities” list has had a positive effect on their ability to preserve music for their students amid budget cuts in arts programs.

In conducting the annual survey, the NAMM Foundation is joined by advisory organizations in the fields of music and education including, Americans for the Arts (www.americansforthearts.org), League of American Orchestras (www.americanorchestras.org), The Mr. Holland’s Opus Foundation (www.mhopus.org), The Metropolitan Opera Guild (www.operaed.org), Music for All (www.musicforall.org), Music Teachers National Association (www.mtna.org), National Guild of Community Schools of the Arts (www.nationalguild.org), National PTA (www.pta.org), Yamaha Corpora! tion of America (www.yamaha.com) and VH1 Save The Music Foundation (www.vh1savethemusic.com). The survey was conducted by The Institute for Educational Research and Public Service of Lawrence, KS, an affiliate of the University of Kansas.

Go to http://www.namm.org/news/press-releases/nationwide-survey-finds-best-communities-music-edu for the complete listing of school districts.

Fools Every Day (Not Just April)

2009-04-01T17:43:00.000-04:00

It ever perplexes me that so many of the so-called service folk (real estate agents are in this fold) need excuses to keep in touch; an excuse to call, an excuse to pop by, an excuse to bother you, the reader, with an inane newsletter (usually prepared by an outside service).

Of all excuses, the most insidious is the birthday “note” or “e-greeting” or call or whatever acknowledgement of a day many folks do not want acknowledged. Sending a card to a person with whom your connection is generally of such a disposition that you would not ordinarily know, so to speak, when they were dropped into the “ol” litter basket, seems to me invasive.

One supposes, that such birth date information comes to a person via two sources: the personal -- I know you and I know of you and yours; this is ok, and then there is the other -- rather impersonal -– I looked at your personnel (or personal) files that have the date even though the supplied date was put there for another purpose. So it is that service folk use personal information (supplied to them as a requirement for getting service [and nothing else]) as an excuse to “make contact”.

Now, I do not do this. I treat a person’s birthday as a bit of his or her own little inner sanctum, and let it rest. Sadly such is not the reciprocal for me. In my corner of the world, Real Estate agnets have their birth day emblazoned on their licenses; one’s license lives and dies (or renews) on the very date the quack gave “ya” the slap on the hidden cheeks in the maternity ward way back when.

I have on this April Fools Day, received a card from a mutual fund (read used money) salesman (who got a token $57,000 from me last July and has parlayed into $33,000 [but I got the card!]), an e-greeting from my office (that I will not open), a personal note from an attorney (do I need a will?) and a host of other sharks.

I have decided to give them all a nice reciprocal gift. The e-greeting was sent back with an April Fool worm; the fund salesman will see my account transferred to Fidelity, and the lawyer, well he’s already a joke.

I DO NOT need excuses to make contact people. As a professional at what I do, my information is unique, timely, well placed, original and highly sought after. Folks want to hear what I have to say…and I don’t need to spy on them.

Real Hunk Real Estate

2009-03-18T08:01:00.000-04:00

It is an open house. I am listening to the two women whispering in the living room. Listening in that manner when we want not to be noticed for listening,...you know, checking for things that need not be checked, blindly looking about, the better to focus all efforts on the ears.

"Look at him," whispers the blond one, "that chin."
"That chest!"
"The eyes,..like they make my clothes melt away..."
"He can melt my clothes anytime..." giggle, giggle.
"Get his card, get his cell number, (giggle) there's something to be said for "sexting (giggle)."
"God, he's a Real HUNK!"

I should point out that this open house in NOT my open house. The above noted indelicate comments were not directed at me but at the young Lochinvar whose visage rests in the bottom left corner of the property's information sheet.

Some men can just excite women to a frenzy.

I am at the open house on behalf of a first time buyer, a charming lady whose pluck and wherewith all have garnered her at fat 20% down payment on a home of her dreams. She has asked me to help her turn that dream into brick and stone, so to speak.

I take my buyer to the basement, point out a few things, talk some issues then it is back to the office to gambit strategy and write up an offer that will bring the sellers to their knees.

"This is great," my buyer says, "I was so scared about the whole thing, but you made it so easy to understand, now and into the future. I was a nut case before you took over. Now I am calm and ready to go! Thanks!"

There it is in a nutshell, folks....Some men excite women; I just calm them down.

I did not see YOUR NAME ANYWHERE...(or mine)...I looked

2009-03-05T09:37:00.000-05:00

This is where YOUR 787 BILLION is GOING///...Note that solme agencies have not said what they are dong with it...why GIVE it to them????????????????????????????...oh I forgot, crooks don't need a reason to give away other peoples' money.

Department of Agriculture

The agency is receiving $28 billion -- $6.9 billion in discretionary funds and $21 billion in mandatory funds to go for specific programs -- including money to aid rural development programs and assistance for farmers. details

Department of Commerce

The U.S. Department of Commerce is receiving $7.9 billion, including $150 million for grants to economically distressed areas across the Nation to generate private sector jobs. details

Department of the Interior

The department was allocated $3 billion, which it is set to use for hydropower projects, preserving national parks, helping the Bureau of Indian Affairs, renewable energy development and beefing up research facilities used by the U.S. Geological Survey. details

Department of Labor; details not yet available

Department of State

The department will receive $602 million, which includes up to $38 million for USAID. The money will also be used for diplomatic and consular programs, addition to a capital investment fund, and money geared toward the International Boundary and Water Commission Construction. details

Social Security Administration

According to the SSA, the stimulus act provides for the one-time payment of $250 to individuals who get Supplemental Security Income (SSI) or Social Security benefits. The payment is expected to reach individuals by late May 2009. details

Department of Veterans Affairs; details not yet available

National Science Foundation; details not yet available

National Endowment for the Arts

The stimulus act provides $50 million to be distributed in direct grants to fund arts projects and activities for state and regional art agencies -- as well as certain nonprofit organizations. details

Environmental Protection Agency

The EPA is receiving $7.22 billion for programs that will "protect and promote both 'green' jobs and a healthier environment," according to the agency's Web site. Some of the projects include improving water quality, shoring up infrastructure, cleaning up former industrial sites, reducing diesel emission and hazardous waste cleanup. details

Department of Transportation

Some $27 billion in stimulus funds are headed to states to provide critical repairs to crumbling roads and bridges throughout the country. On Tuesday, President Obama announced the package will help states "create a 21st-century infrastructure." details

Department of Homeland Security

While the full details haven't been released, the Department says about half of the stimulus funds will be "allotted to information technology-related programs." details

Small Business Administration

The SBA is receiving $730 million to make changes, it says, to the agency's lending and investment programs so that they can reach more small businesses that need help, including: temporary fee reductions on SBA loans, setting up a new loan program to help small businesses meet existing debt payments, technical assistance grants to small lenders and upgrading technology systems. details

Department of Health and Human Services

Around $59 billion is being invested in improving health and human services, including: construction of new research and educational facilities, improving childcare and community services, supporting renovations to community health centers and modernizing health information technology. details

National Aeronautics and Space Administration

NASA is receiving $1 billion, which it says will be used to restore NASA-owned facilities damaged from hurricanes and other natural disasters, advancements in science and aeronautics programs. details

Department of Housing and Urban Development

The stimulus provides HUD with $13.61 billion for projects and programs, nearly 75 percent of which was allocated to state and local recipients on February 25, 2009.

HUD says the money will help generate jobs, modernize homes to make them energy efficient and help families hit hard by the economic recession. details

Department of Energy

The DOE has set out to use the funds to create or protect nearly 3.5 million jobs over the next two years, reduce dependence on foreign oil, invest in green technology, renewable energy projects and scientific research. details

Department of Education

Around $141 billion will go for saving or creating early childhood, K-12 and higher education jobs; create construction jobs related to school modernization projects; raising Pell grants and tuition tax credits for college, among other programs. details

Corporation for National and Community Service

The $201 million in funding will, according to the CNCS, support an expansion of AmeriCorps State and National and AmeriCorps programs that is aimed at "engaging citizens in addressing unmet needs and strengthening communities." details

Agency for International Development; details not yet available

Department of Defense

The DOD is receiving around $7.4 billion in stimulus funds -- and says it will spend the funds to upgrade facilities, make energy-related improvements, pay for military construction of hospitals, child development centers and facilities used to house soldiers and their families. details

Department of Justice

The DOJ will use the $4 billion its received to "enhance state, local, and tribal law enforcement efforts, including the hiring of new police officers, to combat violence against women, and to fight Internet crimes against children." details

Department of Treasury

The Treasury Department has allocated its share of the stimulus funds to go to the administrative budget: IRS Health Insurance Tax Credit Administration; Treasury Inspector General for Tax Administration; Community Development Financial Institutions; Financial Management Service; Internal Revenue Service.details

"For Sale by Owner" StataGEEZ!!!

2009-02-26T09:10:00.001-05:00

One wonders about the logic some folks apply when trying to sell thier homes without professional advocating. Not much to say about this bloke's Project Plan. It will be interesting to see how this one plays out...

I love these reports

2009-02-25T09:02:00.000-05:00

See below...nothing like a trade group to BEG!!!! oh please buy something. They forget...real estate is local, and personal and all the reports in the world are not worth the hole in a chicken's keyster compared to what is seen out the window of the coffee shop. Let's all wait 'til the full report comes out at 10 and then we can open our check books. Read on:

NEW YORK – A trade group report today on sales of existing homes is expected to show selling increased slightly in January. The increase would mark the second straight month of improvement from November's record low.

Sales are expected to rise to a seasonally adjusted annual rate of 4.79 million units, from 4.74 million a month earlier, according to economists surveyed by Thomson Reuters. The National Association of Realtors' report is due at 10 a.m. EST.

Wells Fargo; Go Far Away...please

2009-02-22T09:43:00.000-05:00

See the below article pushed forward by Wells Fargo, you know the pigs who got 25 BILLION in Tax payer funds a few month ago and JUST THIS MONTH planned to have a 12 day bash at the Wynn Las Vegas -- until the got caught. which all goes to show, self interest is alive and well...what is the use of an affordability index if no one has the confidence to spend, and no one has the confidence to spend because they feel ripped off by Wells Fargo and the other. The affordability index is out of touch -- just like Fargo and the pigs in Congress who are touching you up...Read on

Big boost for housing affordability
Les Christie, CNNMoney.com staff writer
Thursday February 19, 2009, 4:59 pm EST
Yahoo! Buzz Print Crashing home prices have led to the most affordable housing market in at least five years, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index released Thursday.

More than 60% of all U.S. homes sold during the last three months of 2008 were affordable - meaning that a family making the national median of $61,500 a year would pay 28% or less of their total income toward housing expenses.

At 62.4% affordable, the figure is up considerably from 56.1% in the previous quarter and 46.6% at the end of 2007, according to the report.

Topping the list of most affordable U.S. metro areas, which ranks areas with more than 500,000 in population, was Indianapolis. This is the city's 14th consecutive quarter in first place; it boasts a full 93% of all homes sold being affordable to median family households.

The least affordable was the New York City metro area, where only 13.9% of homes sold met the criteria.

In the fourth quarter, the national median home price fell to $190,000 from $205,700 in the previous-year period, according to a report issued last week by the National Association of Realtors. That combined with falling mortgage rates has made home buying the most affordable it has been since early 2002.

"Falling home prices and very favorable mortgage rates both contributed to the housing affordability gains we saw in the fourth quarter of 2008," NAHB Chairman Joe Robson, a homebuilder from Tulsa, Okla., said in a prepared statement.

That still wasn't enough to get moribund housing markets moving again. Existing homes sold at an annualized rate of 4.74 million in December, according to the National Association of Realtors, down from more than 7 million during the boom.

And a government report revealed that new home sales crashed to an annualized rate of 331,000 in December, the lowest since record keeping began in 1963.

"Worsening economic conditions, historically low consumer confidence and uncertainty about future home prices kept many qualified buyers on the sidelines," Robson said.

Still no buying push

That affordability has improved so much does not necessarily make people go house hunting, according to Mike Larson, a real estate analyst with Weiss Research.

"You could argue that house affordability indexes are improving but that may not be the best way of defining whether it's a good time to buy," he said. "Concerns about the economy and whether they're going to still have a job have kept many homebuyers from stepping up to the plate."

During the boom, when house affordability plunged, buyers came out in droves. They were confident in the economy and afraid that home prices would soar out of reach. Today, just the opposite applies.

"Affordability is going to get even better," said Larson. "Home prices are not done falling. Buyers recognize this. There's no sense of urgency, and rightly so."

Indeed, according to Nicholas Retsinas, director of Harvard University's Joint Center for Housing Studies, affordability, which was a major factor in homebuying during the boom, no longer matters very much. In most parts of the United States, affordability has returned to where it was in 2002 or 2003.

"The new barrier is willingness to buy," he said.

That's why one major goal of President Obama's housing-rescue plan involves slowing foreclosures to stabilize housing markets and foster consumer confidence.

"If that happens, maybe people will start thinking, 'Hey, maybe prices won't go down tomorrow,'" said Retsinas.

Most and least affordable

Affordability in Indianapolis, the 33rd largest metro area in the United States with 1.7 million people, was buoyed by fairly high median income of $65,100 and rock-bottom home prices. The median price for a home sold during the quarter was just $103,000, according to the National Association of Home Builders report.

Those prices, combined with reasonable mortgage interest rates, make home-buying in the area a snap. A buyer of a median-priced home putting 20% down would pay only about $450 a month in mortgage expenses.

But even though house buying costs are reasonable, the city's weakening economy meant it did not escape the foreclosure plague. More than 20,000 homes, representing nearly 3% of the city, received a foreclosure filing of some kind in 2008, the 26th highest rate in the nation.

Other most affordable towns were: Warren, Mich. (89.6%); Youngstown, Ohio (89.4%); and Detroit (89.3%).

In the New York City metro area, home prices took a steep dive during the quarter, to $455,000 from $500,000 three months earlier. But even that was not enough to dislodge the city from its rank as the most unaffordable metro area in the land.

Median income in the area is $63,000, less than in Indianapolis and, with home prices more than four times higher than in the Midwestern metropolis, only 13.9% of the homes sold there were affordable to median income families.

That was still a major improvement from two years ago, when only 5.1% of homes sold during the fourth quarter of 2006 were affordable. And New York households have been barely brushed by foreclosure so far with only 0.71% receiving some kind of foreclosure filing during 2008.

Other least-affordable metro areas included San Francisco at 20.6%, where affordability improved greatly from 5.7% during the second quarter of 2007; suburban Long Island, where 25.5% were affordable; and Los Angeles, where 26.9% were.

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And now for the Happy Numbers out of Washington

2009-02-07T20:58:00.001-05:00

Just hide you cash under the bed and call it an honest mistake when they bag you for taxes...you'll be fine; just ask all the Obama-bend-over-boys (and babes)how they do it....

WASHINGTON – The unemployed population is getting older and more educated as companies ramp up layoffs and the recession deepens.

The total number of unemployed increased by more than 50 percent from January 2008 through last month, but the number of jobless Americans 55 or older jumped 70 percent, according to new Labor Department numbers released Friday.

And for people with college degrees, the number rose even more sharply, by nearly 85 percent.

The numbers confirmed a trend that job cuts are moving up the age and educational ladders, said Andrew Stettner, deputy director of the National Employment Law Project.

Layoffs are hitting middle managers and professional services firms as the recession enters its 15th month. Stettner said that's a shift from earlier in the downturn, when job cuts were concentrated in industries like construction, retail and manufacturing, where workers are generally younger and less likely to have college degrees.

Many employers are reluctant to hire older workers, Stettner said, because they may demand higher pay and companies may not want to take a chance with those who are shifting careers.

Age is more of a factor than it has been in previous recessions: Americans over 55 made up 12.8 percent of the 11.6 million unemployed last month, double the proportion in January 1982, when the country was mired in a steep recession. The aging work force explains part of the difference, but not all, Stettner said. The proportion of older Americans in the labor force has increased by 50 percent since 1982, he said.

Meanwhile, Americans over 55 constituted only 10.6 percent of the unemployed in January 2003. Unemployment peaked that year in the aftermath of the 2001 recession.

Nearly 15 percent of the unemployed have a college degree, up from 13.8 percent in January 2003 and 9.7 percent in January 1993 — another year when unemployment peaked after a recession that ended two years earlier.

The information on age and college education is just a sample of the wealth of information, beyond the headline unemployment rate, that shows up in the Labor Department's monthly employment report. Here are some more details about who is included in the ranks of the jobless, by the numbers.

___

COMPARING JANUARY WITH PAST DOWNTURNS

11.6 million: People unemployed in January 2009.

11.9 million: People unemployed in November 1982, the final month of the last recession of more than a year.

10.8 percent and 111.1 million: Unemployment rate and total work force in November 1982.

7.6 percent and 153.7 million: Unemployment rate and total work force in January 2009.

September 1992: Last time the unemployment rate was this high.

60.5 percent: Portion of the total population that had jobs in January.

May 1986: Last time the portion was this low.

___

JANUARY UNEMPLOYMENT RATE BY GROUP

7.6 percent: Adult men

6.2 percent: Adult women

10.3 percent: Female heads of households

6.2 percent: Asians

6.9 percent: Whites

9.7 percent: Hispanics

12.6 percent: Blacks

20.8 percent: Teenagers

___

LAID-OFF WORKERS

6.98 million: Unemployed in January 2009 who were laid off or completed temp jobs.

3.79 million: The same figure in January 2008.

___

JOBS HARDER TO FIND

22.4 percent: Share of unemployed in January who've been looking for 27 weeks or longer

18.1 percent: The same figure in January 2008, one month into the recession.

22.8 percent: The share in June 2003, when the unemployment rate peaked after the last recession.

___

SNAPSHOTS OF JANUARY'S UNEMPLOYED

2.75 million: People who were trying re-enter the work force after leaving work for reasons such as parenthood or retirement.

2.1 million: People who wanted to work, were available for work and had looked for work in the last 12 months, but had not looked in the last month.

7.8 million: People working part-time because of slow work or business conditions.

___

WHO'S SURVEYED

60,000: Number of households interviewed in the monthly Census Bureau survey from which the unemployment rate is extrapolated.

40 percent: Portion of companies in the survey of businesses, from which payroll and job loss numbers are extrapolated, with fewer than 20 employees.

___

LOCAL HIGHS AND LOWS

22.6 percent: Unemployment rate for El Centro, Calif., in December — the most recent month for which a local figure is available.

2.7 percent: December rate for Morgantown, W.Va.

Smelling Change in the Air?

2009-01-18T11:12:00.000-05:00

I thought I did smell change in the air, but perhaps it was just my wacky neighbor cooking on the outdoor grill...in the snow. Be that as it may, it is notable that, so far this year, in my corner of the world, little, Belmont, MA, 5 properties have gone under agreement since January 1, 2009 (18 days). What is notable in this number is the "DAYS ON MARKET" for these palaces -- they averaged a whopping 314 days on -- that is 10 months of no sale no sale no sale and now BANG, we have a deal.

Similar stats are showing up in surrounding communities (5 in Watertown, 8 in "booze free" Arlington, 10 in Medford).

We may well put this up to lower prices, but that does seem to be the case -- no dumps on these prices. Just folks beginning the long dive into the markets.

It is more likely that folks are seeing the other side of the news. A company announces 10,000 layoffs and we are in a tizzy. Another firm is dropping 10% of its staff and we throw a cow. Never mind -- once the ten percent get the ol' heave ho, that leaves a well placed,relaxed and even celebratory 90% out and about. It is these 90 percenters who are coming forward. The survivors in the modern jungle feasting on the carcasses of the fallen...Maybe that is what I smell.

Come Blow Your Horn in Belmont

2009-01-16T15:59:00.000-05:00

In this the time, so we are being told, of darkness, it is a surprise to hear (since it is to be dark and we cannot see), the sign of the future. In my corner of the world, Belmont, it appears nearly 1,000 youngsters are involved in Music Programs run by the School Department's Music instructors. These programs are held during school, after school or on Saturday morns. The town is filled with little violinists, flutists and other sundry tweakers and tooters.

My own small one, after 1 year on the violin, opted for the oboe this year. In a nonce, she is up and running. So it comes a surprise that she is dropping said oboe in favor of another instrument -- the trombone. She will shift, no doubt under the careful eyes of her instructors (on Tuesdays in school and on Saturday mornings in the Town 4th Grade orchestra).

As for me...another instrument next to the lunch box in the morning -- and another one to put up on ebay

Someone Has a lot of Time on Their Hands

2008-12-31T06:21:00.000-05:00

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

2008-12-24T11:04:00.000-05:00

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

2008-12-23T19:29:00.000-05:00

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

2008-12-23T19:22:00.000-05:00

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

2008-12-23T07:09:00.000-05:00

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

2008-12-21T10:15:00.000-05:00

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

2008-12-20T09:59:00.000-05:00

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

2008-12-11T08:10:00.000-05:00

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

2008-12-10T08:25:00.000-05:00

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

2008-12-09T08:58:00.000-05:00

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

2008-12-06T11:12:00.000-05:00

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

2008-12-01T08:29:00.000-05:00

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.