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March Madness 2013 in Real Estate

 

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

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

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

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

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

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

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

 

Can't judge a book by its cover!!!

 

When my clients were looking for a home nearly 7(!) years ago, it was all I could do to get them in the front door of this “plain Jane” home. However, once inside the front door, they were pleasantly surprised! or should I say shocked :) The home sparkles…it is full of light and it exactly what they were looking for: open living spaces, a large, updated kitchen (nice cabinets with dovetail drawers!), granite countertops and hardwood floors. The 3 bedrooms were a “must have” and the updated bath(s) were another pleasant surprise. The 2 car garage and the finished basement, again, were icing on the cake after walking through the open, spacious and modern first floor.

Turns out this house has been perfect for them - they love to entertain their family around a big meal and a sports event (Red Sox, Patriots!) on TV… the way the dining room sets up to the kitchen and living room is perfect for their lifestyle. The fireplace in the living room and central air conditioning have been much coveted, adding ambiance and comfort, year round.  The location has been sweet too, since one of the owners commutes to Salem and the other owner needs to access Rt.128 5 or 6 days a week. Reluctantly, they leave their most enjoyable home to be closer to their true love, which is their family.

Avalanche in Salem MA!

 

Heading “ova the bridge” for a fall shopping trip I went to the new location (24 Front St., Salem MA) of an old favorite, Avalanche. I “found” (through a word of mouth tip) this old favorite years ago when they were located in their own factory where they manufactured what they sold, in Lynn. Originally Avalanchespecialized in “fleece wear” clothes but over the years have branched out to many high tech athletic performance fabrics in their clothes. The “outlet” store in Lynn sold samples and over runs from production for yes…famous name brands! The good news is even though their location has changed the prices haven’t and even better they have expanded their product line from strictly out door wear to indoor wear (men, women’s & children), including some really unique indoor kids clothes! Oh yeah and don’t forget the chic dog collars either! Being perpetually cold it seems,  this is a “must go” stop for me and my holiday shopping. Nearly forgot to mention, the “owners” actually work in the store and the customer service is excellent – what a nice change from big box shopping :) Love supporting small business owners!

Avalanche WareHouse Outlet in Lynn MA - Sale this weekend!

 

Avalanche Cold Weather Fleece Coat


Remember when outlets were secrets among girlfriends?  It was almost like getting the password to an after hours club. If someone didn’t take you there, you would never ever find it yourself! There were no signs to new “outlet” malls. There was no merchandise, specially manufactured for the “outlet brand”. Usually, it was at the factory itself, where the merchandise was produced. It was only open, when the machines weren’t running. It was run, not by hired hands, but the owners them selves. Best of all, prices were always wholesale or less. If you’re old enough to recall these shopping memories or savvy enough to have found an outlet like the one I described, you will love Avalanche.  It is in a factory building next to the YMCA in Lynn. Enough said.  Get yourself there! It is open Friday, Saturday & Sunday 10 to 4PM. It specializes in good quality fleece wear (Polartec, and other performance fabrics).  Warm, warm, warm  and technical sports fabrics are used for jackets, tops, vests, pants and hats. They have men’s, women’s and children’s wear.  There are sample clothes and other materials used besides fleece, such as 4 way stretch, wick away, wind and water resistant types.  You will find these products in well known catalogues, for instance Eddie Bauer or Sahalie  The owners were working the sale there last weekend and could not have been nicer or more helpful.  Treat yourself to a visit for cold weather warm wear!

Dental....I mean dentil moulding

Dentil Moulding 4 Laurel St., Beverly MA 01915

One of the classic styles in building mouldings is frequently miscalled  "dental".  It is relatively easy to understand why ...because it looks like its name (toothlike), but it is spelled like its' latin roots. Den is "tooth" in latin and the moulding is characterized by a square mold with spaces in between them, similar  to a characterization of teeth. Usually found below a cornice, it is considered a classic style in architecture and is documented on the grave of Darius from 500BC! Having long admired the classic architecture I am thrilled to highlight a new listing with exquisite dentil moulding in the living and dining rooms. The picture above, highlights this style found at 4 Laurel St. Beverly MA. The picture belows shows off more of the architectural detail found in this pretty house including unique built ins.

Dentil moulding under the cornice