TO MOVE OR NOT TO MOVE...THAT IS THE QUESTION!

This week I had a number of clients call me and ask whether they should move or not. The challenge is almost always the same. They concentrate on the fact that (most likely) their current house is worth less. That fact seems to freeze people in their tracks. What they forget is that the home they are going to buy has probably also dropped in value, especially if they are moving to a bigger home. In this market it's all about #1 location and #2 is tied for amenities and size. When people are confused they freeze. It is one of the best times to buy right now because interests and prices are both the lowest they have been in many, many years. Rejoice in that and do your homework! This market is a blessing if you have the right perspective, knowledge and strategy.

Mortgage Lifeline For Those Who Are Current WithTheir Mortgage! YEAH!

Here is some exciting news from one of our mortgage broker friends, Mona Wong, mom of adorable twins...

Mariaaaaaaaaaaaa
:)


Hi-

March 4th is when the guidelines will be rolled out for the housing plan. This will allow some of those who are in a situation where they are current with their mortgage but can not refinance because of the value. If you or someone you know who can benefit from this please have them contact me so that I can help them get their documents together and ready for march 4th. It may not be able to help everyone, but it looks promising….

Any questions please contact me.

Thank you!
Mona

Thank you for your business!

Mona SooHoo Wong
Mortgage Consultant
mwong@village-capital.com
c) 617-818-7430
f) 877-504-8357

FEAR VS TRUST - which will YOU "buy" into?

I have a very different background than most other real estate agents mainly because of my degrees (Boston College-BA & Simmons College-MBA) and my almost 2 decades working for some of the largest public relations firms in the world. Additionally I've also developed a deep passion for studying human behavior. With that kind of background it is incredibly interesting to see people's reactions to what is happening in real estate.

The media focuses on what sensationalizes. They do this because it hooks people and that is how media outlets survive. For example, if you're flipping through channels and you hear, "dangerous storm coming" you are much more likely to stop on that channel, then if you hear, "beautiful weather expected". It's human nature, part of our genetic makeup linked to helping to keep us alive. We don't live in the same dangerous world as our great-great-great-great-great-great-great-great-great grandparents but we still pay attention to those triggers.

When it comes to selling or buying in this market, fear is what is still selling papers. What I see happening is that people are so fearful that they FREEZE. They let the fear override every fiber of common sense they have. One of my clients Steve (not his real name) was going to help out his daughter and her family by buying a bank-owned property. This property was in great shape and listed for less than half of its value, even for these times. Steve is the rare person who saved a significant amount of money and could buy this house oughtright with no mortgage and it would still only affect a small portion of his money. After much back and forth, Steve decided to follow the advice of his financial planner and keep his money in stocks/mutual funds. (BTW, the person he went to for advice is also the same person who would be benefitting from his keeping his money in the markets.) Four days later the market crashed and he lost a large chuck of it. Had he bought the house he would have lost none of it and would actually have built equity because it was being bought way below market value. In the meantime, that house sold for even less that it was advertised for. That FEAR helped Steve make a decision that was not in his best interest. Even if the markets had not crashed he still could not make as much money in the markets as he would have from this deal.

When decided what to do for your specific situation, use your breath, relax, write it down, talk it out. See what makes sense and what feels right. Always remind yourself that you are always safe and that everything is happening in divine order.

A Challenge Out There...Moms Grab Your Hammers!

Hello Moms!

Thanks for coming back and getting another dose of fun and informative realty reality. Most real estate agents cover only a specific area so they get stuck in just the info for that area. I like to shake things up a bit so I did a seach today for ALL single family homes in Massaschusetts that are FOR SALE and found some interesting information:

-There are 28,521 for sale.
-429 were listed in the last 3 days.

Ooops! Just to show you how crazy the market is, this morning I started writing this blog, went to a long meeting and went back to check the stats a few hours later and now the numbers are:

30,361 for sale!!! WOW! THAT IS NUTS! This is only in Massachusetts which again proves that it is a FABULOUS time for buyers!

Ok, so with these new results can you guess what the lowest priced home in Massachusetts is this week? (drum roll)


166 Brombach St, Pittsfield, MA
6 room, 2 bed, 1 bath Ranch
$35,000 (isn't that the price of a car???)
Approx. Living Area: 1294 sq. ft.
Approx. Acres: 0.19 (8276 sq. ft.)
Heat Zones: Forced Air, Gas
Parking Spaces: 2 Off-Street
Needs a lot of TLC.

For explore more fun properties like this go to http://www.brickhouserealty.com/ and sign up to view properties. Don't worry we won't sell or give your info to anyone not even to our own moms!

Have a fantastic week!
Mariaaaaaaaaaaaaaaaaaaaaa
:)