Yes, Virginia, it does exist. Throughout my, shall we say, lengthy career in real estate, I have witnessed the media’s love of foretelling, reporting or rehashing anything to do with bad news in real estate. If values are on the rise, it is a bubble about to burst any moment. If values are declining, it is the end of the world for all. I do not mean to make light of the current difficulties faced by many in areas of the real estate market today, I am just suggesting that it would be wonderful to see a bit of a level playing field in reporting both the good and the bad as they occur.
For instance, right now, the good news in real estate….wait for it… is the historically, amazingly low interest rate! In my recent conversation with a mortgage originator, I was quoted refinance rates in the low 4’s and purchase money at 3.875%. 3.875%, yes, that is what I said! I remember 18.75% - although you most likely don’t – so 3.875% is just silly!
For those struggling with upside down mortgages, I express my concern and sympathy. However, this low interest rate does qualify as Good News in Real Estate. If you are able, you should take advantage.
And this might be a good time to download our BETTER BUYER KIT. It is free, it is for you, and it will help! The Better Buyer Kit offers you years of experience at your fingertips. The kit will answer many questions and help you prepare for the trransaction ahead. Read it through or keep it as a reference throughout your buying process.
I need and prefer for things to be simple. I’m not always eager to use new technology if it takes longer than 5 minutes for me to figure out how to use it and when I have a question, I want an answer and usually I want it now!
A while back there was a site called “askJeeves”, which I think is now simply named Ask.com. You could type in a question in a box and they gave you multiple answers. Simple. The topics could be anything from the average amount of calories in an ice cream sundae to the weather on a particular day in June in NYC. I loved it. What I don’t love is trying to find the right site for my questions. Every topic should have it’s own question and answer site, that would make sense to me.
What about you? Would you like to ask let’s say a Real Estate related question, without having to sign-in or answer questions…..just ask? Well, now you can.
It’s simple (yes, the simple theory again) just log in to your Twitter account, type in your question and use the hashtag #AskA3 We’ll answer in 140 characters and if the answer requires more than that, we’ll let you know and you decide how we can get you the answer.
So give it a try. We look forward to hearing your questions. See you on Tweeter!
You can follow us on twitter
And join us on Facebook where you’ll find daily relevant real estate topics posted.
Not a Twitter user? No Facebook page? Just email us at: info@avenue3re.com and we’ll get back to you ASAP!
Additional A3 info:
Download our Better Buyer and Better Seller Kits for all the info you need to proceed in today's market.
The Internet is usually the place buyers begin their home search. After filtering through the inventory and taking virtual tours, they are ready for the next step. That may mean touring weekend open houses.
If you are a buyer who has not yet engaged the services of an Exclusive Buyer’s Agent, there are things you should know about the role of the real estate agent hosting the open house. The hosting agent may be the Seller’s Exclusive Agent, or the host may be another agent - a Facilitator. The Facilitator is there to answer questions about the property, but she doesn’t represent either the seller or a buyer in that specific role. A Facilitator may become a Buyer’s Representative with a Buyer’s consent.
The Seller’s Exclusive Agent can assist you with the purchase of her exclusive listing but only with Consent to Dual Agency, which would need to be granted by both you and the Seller. Alternatively, the Seller’s Exclusive Listing agent can assist you in the purchase as the Seller’s agent, meaning the Buyer purchases without a “Buyer’s” representative.
The Open House host, regardless of who it is, is required, by a Realtor Code of Ethics, to determine if you are already under contract with an Exclusive Buyer’s Agent before she can engage in a conversation about working with you. Expect to be asked, it doesn’t reflect over aggressiveness.
If you feel the host is someone you would be comfortable with, ask about how you might work with her. In the end, a Seller wants to sell, and a Buyer wants to buy. We just need to be sure everyone understands our responsibilities and obligations to the consumer.
Looking for an Agent to represent you? Here's our Agent Profile Page.
There are a number of open houses in Arlington MA on Sunday, June 6th and the weather's supposed to be gorgeous once again. So why not treat yourself to something fun after doing the serious work involved in buying a home or condo? Here are two excellent after-open house activities you can easily do in one afternoon. There's always something exciting going on in Arlington and Cambridge!
The Annual Greek Festival at Saint Athanasius the Great Greek Orthodox Church will continue through Sunday, from 11am to 8pm. Held rain or shine - just look for the happy crowd under the big tent! Lots of wonderful food and pastries will be available, as well as rides for the kids and Greek dancing lessons! What a great way to spend the first Sunday in June! Just stop by 4 Appleton St. in Arlington to enjoy this excellent community event for yourself!
For more info, check out the Arlington Greek Festival's Fan page on Facebook or pay a direct visit to the Greek Festival website, which includes a schedule of events. If you are interested in seeing a short video clip of Sat
urday's events, visit Steve Katsos's recent video posting of it on Youtube.
And speaking of Youtube, you should check out this cute video of the Red-tailed Hawks who've setup their nest high above Fresh Pond circle. If you feel like checking them out for yourself after the Greek Festival, bring your binoculars and head on over to the Freshpond Shopping Mall parking lot. Even the hawks seem to know Cambridge and Arlington are now officially green and eco-friendly Communities!
You can get more information by visiting our Avenue 3 Real Estate community pages for Arlington MA and Cambridge MA. While there, don't forget to sign up for our real estate newsletter, The Week in Review, so you can stay on top of all the latest real estate market statistics in our area.
Until next time, Peace!
-TMC
In advancement of their goals to become more eco-friendly places to reside, both Arlington, MA and the City of Cambridge, MA were recently named by Gov. Deval Patrick as two of the Commonwealth's first official "Green Communities." This is a distinct recognition by the Commonwealth that both Arlington and Cambridge are at the forefront of reducing energy usage and emissions through energy efficiency and reduction initiatives. The goal of the Green Communities Division is to help residents of both communities by maximizing energy efficiency in public buildings and managing rising energy costs.
"The designation recognizes all that the Town of Arlington has already done to demonstrate its commitment to being "green," said Arlington Town Manager Brian Sullivan. "It also puts the Town in the position to further reach energy reduction goals, through access to State grant dollars for green energy projects."
THe Town of Arlington met all five clean energy benchmarks set by the program, including the recent adoption of the energy-saving building "stretch code" voted by Town Meeting.
Working with Sustainable Arlington, the Arlington is planning to apply for projects that will reduce energy consumption and increase efficiency. The grant application is intended to include:
- Request for Funding to begin converting High Pressure Sodium streetlights to LED streetlights.
- Upgrade of Energy Management System at the Hardy School.
- Replacement of Steam Traps in Arlington High School's heating system.
The Green Communities designation makes both communities, along with 33 other municipalities in the state, eligible for $8.1 million in grants for local renewable power and energy efficiency projects. The projects promise to create green jobs and advance both municipal and state clean energy goals.
Read the full press release from the Governor's office and learn more about the Green Communities program at their web sites. For more information on the communities of Arlington, MA and Cambridge, MA, please visit Avenue 3 Real Estate's community web pages.
Until next time, Peace!
-TMC
Driving along down Massachusetts Avenue toward Cambridge today I noticed the dreaded message flashing on the dashboard 
of the car. The 10,000 mile tune up was due (check-up and tune up message). The check-up exercise always leads to the same scenario, a day without a car, a costly problem found, a part needed to be ordered, another day with out the car, etc. etc. I also know that when it’s over and the car is officially “fixed” I will feel great satisfaction knowing that my investment is now in good working order and I can navigate around feeling all is well for at least a year or so. It feels good. This got me thinking about our largest investment, our homes, and why we don’t use that same “check-up”, “tune-up” system to keep things humming.
The checklist could look something like this:
1. Once a year refresh a room with new paint, touch up wood work where needed
2. Keep all systems on yearly contracts
3. Clean your gutters every fall
4. Improve the exterior and landscape each spring season.
5. Make some small update each year, like replace an old kitchen disposal
6. Weed out the attic and basement of unwanted items each fall
Make your own list of 3-4 maintenance projects and stick with it every year. Spending money keeping your home updated and polished on a regular schedule will prove to be a real benefit to you in the long term. Should you find yourself in a position of having to sell your property unexpectedly or on your own time -frame, you won’t be stressed by spending big to prepare your home for a speedy sale. Working day and night cleaning out the garden beds or calling in a chimney sweep at the last minute to clean out the flue won’t be tiring you out either because your home will be in good working order and ready to go!
Need a list of local service providers in the Boston/ Metro West area? Visit our website: Avenue 3 Real Estate
Thinking you may be selling your home in the near future? Download our "Smarter Seller Kit" for great marketing tips!
Lois Ardito and Karen Lilley, Principals
If you've been thinking about purchasing a condo in Cambridge, MA as an investment property, now would be a good time to make your move!
With the end of the first-time homebuyer tax credit, those who were renting and motivated to purchase have already done so and will be closing between now and July 1st. This will result in more rentals coming on the market over the next couple of months, which is prime rental season for the next influx of college students this fall. College students will most likely be your target tenant, given the preponderance of students and other academics throughout Cambridge. So not only will you want to act fast on purchasing that investment, you'll want to differentiate yourself, somehow, from the "competition" and make your particular unit the most attractive option available. Looking at the previous two months rental statistics in Cambridge, the news is encouraging. The average rent compared to the same time last year rose by 10.44% for all of Cambridge (from $2,116 in 2009 to $2,337 in 2010), with some neighborhoods reporting larger gains than others. The two Cambridge neighborhoods with the biggest increases were Cambridgeport with a 65.17% increase in monthly rental amount ($1,750/mo in 2009 to $2,900/mo this year) and East Cambridge with a 17.18% increase ($2,400/mo in 2009 to $2,812.50/mo this year).
Check the pie chart to see the average Cambridge MA neighborhood rental rates for a 1-2 bed condominium with 1 or 2 bathrooms over the past two months. As you can see, Kendall Square, East Cambridge, and Cambridgeport are the neighborhoods currently commanding the highest rents, while the most affordable areas remain mid-Cambridge and North Cambridge.
Harvard Square has actually decreased slightly to $1,925/month this year from $2,050/month last year. Remember, however, these are average prices, and some condos in Harvard Square have recently rented as high as $2,500/month.
Of course, there are other areas in Cambridge that are highly popular, such as Central Square or Inman Square, but they are not always indicated as such in the Multiple Listing Service (my source for this data). These areas, along with the remainder of Cambridge rentals, are included in the "other" category of the chart.
As you prepare your new condo purchase for rental, you'll want to somehow differentiate yourself from the other rental units available on the market at that time. Doing so will definitely help to reduce the average days on market (which most recently was 51.7 days) and get you a paying tenant as soon as possible. So consider this - a potential tenant, such as a student, will not have a car and may rely heavily on public transit. So one idea you might consider is to purchase a bicycle and make it part of the rental agreement. If the tenant agrees and wants to use the bike, you can simply give them the lock combo and off they go. If they're not interested, you can always keep the bike parked in the condo basement (most have bicycle storage) and rent it out to other tenants in the building. This is a great way to "go green" while also being a landlord!
First step, though - find a good condo in a nice neighborhood. Start by visiting our Avenue 3 web site and searching for condos in Cambridge. If you see anything you like, give me a call and we'll take a look! And why not visit our FaceBook Fan Page while you're thinking about it? We post lots of great info on a continuous basis and I'm sure you'll find something useful whenever you visit.
Until next time, Peace!
-TMC
Typically most Buyers will end up painting their newly purchased property to make the house their home. So why as a Seller would you paint, freshen-up walls and touch-up woodwork before placing your home on the market? The answer is a simple one, painting is one the most inexpensive ways to transform your interior and exterior spaces to a fresh up-to-date look and quality mass appeal. What buyer wouldn’t be tempted by walking into a Cambridge condo or an Arlington home freshly painted and looking spanking new!
Making good color choices will enhance the potential for a quick sale and you don’t need to pay a designer for the latest trends. You can easily pick up a recent brochure from Pottery Barn or Crate and Barrel and they will give you the insight of a world class designer with the modern consumer in mind. Note: don’t get too extravagant stay conservative and stick to neutral colors. The smell of fresh paint never hurts either!
Here’s a summary on Color Psychology that you may find useful:
• Black is the color of authority and power. It is also stylish and timeless. Black also implies submission. Not a good choice for any room unless your hobby is developing photos!
• White symbolizes innocence and purity. White reflects light and is considered a summer color. White is popular in decorating and in fashion because it is light, neutral, and goes with everything. However, white shows dirt and is therefore more difficult to keep clean than other colors.
• Red the most emotionally intense color, red stimulates a faster heartbeat and quick breathing. It is also the color of love. In decorating, red is usually used as an accent. Decorators say that red furniture should be perfect since it will attract attention.
• Pink is the most romantic color, it is more tranquilizing. Sports teams sometimes paint the locker rooms used by opposing teams bright pink so their opponents will lose energy.
• Blue is one of the most popular colors. It causes the opposite reaction as red. Peaceful, tranquil blue causes the body to produce calming chemicals, so it is often used in bedrooms. People are more productive in blue rooms.
• Green is currently the most popular decorating color; green symbolizes nature. It is the easiest color on the eye and can improve vision. It is a calming, refreshing color. Dark green is masculine, conservative, and implies wealth.
• Yellow cheerful sunny yellow is an attention getter. While it is considered an optimistic color, it is the most difficult color for the eye to take in, so it can be overpowering if overused.
• Purple the color of royalty, purple connotes luxury, wealth, and sophistication. It is also feminine and romantic. However, because it is rare in nature, purple can appear artificial.
• Brown solid, reliable brown is the color of earth and is abundant in nature. Light brown implies genuineness.
Apparently it is the opinion of many contractors that Benjamin Moore paint adheres and dries more evenly than all the competition. If you’re still unsure of the color swing by City Paint in Arlington on Mass Ave and ask for Sandra, she is awesome at choosing the right color combinations for you. You might even bring her some photos of the rooms you’ll be painting, it always helps.
Selling your home? Download our "Better Seller Kit" for the info you need for a successful sale.
One of Arlington, MA's most treasured spots for both residents and visitors alike is Spy Pond, located just south of Mass Ave. and east of Pleasant St. in East Arlington.
Spy Pond was originally formed during the last great ice age, about 50,000 years ago, when it was covered by the Wisconsin Glacier. As it melted, between 13,000 and 10,000 years ago, the glacier left a depression in the ground known as a "kettle hole," which then filled with water and formed the pond we know today.
As part of its rich history, Spy Pond was notable as an ice harvesting spot, supplying ice to the greater Boston area and exporting it as far as India. This prompted the building of the local railroad and an increase of manufacturing in the area, primarily ice-cutting tools.
As the area expanded and became known as "West Cambridge," the pond became a source of potable water for local residents. Eventually West Cambridge was incorporated as Arlington, MA and Spy Pond was officially named.
Today Spy Pond is one of the most relaxing and peaceful places to visit in Arlington. But it needs help to remain so. To that end, this coming Saturday, May 8, 2010, local volunteer residents, in cooperation with the Appalachian Mountain Club, will gather to clean up the shores of Spy Pond.
Volunteers are asked to meet along the Route 2 path from 9:00am until 1:00pm. Volunteers will spend time picking up trash, cleaning debris from trails, pruning, planting, and weeding out some of the invasive weeds that have infiltrated the area.
If you want to take part, all you need is some time, gloves, and a few garden tools (rakes, shovels, pruning shears, etc.). If you don't have any equipment to bring, don't worry. Everyone is welcome and snacks will be provided (free food always attracts more people, doesn't it?).
If you'd like more information on how you can help, contact either Elizabeth Karpati at 781.643.4172 (email: ekarpati@juno.com) or Stroker Rogovin at 781.641.2506 (email: stroker@alumni.clarku.edu). You may also visit the Spy Pond Vision 2020 Committee web site at www.arlingtonma.gov/spypond.
Read more about Arlington's history and get more information on the local area at these web resources:
I hope to see some of you there!
Until next time, Peace!
-TMC
May 2, 2010 - Save the date now!
The 2010 Arlington MA EcoFest will be held on Sunday, May 2 from 11am - 3pm at the Arlington, MA Town Hall Auditorium.
Featured will be a Noon-time discussion by Don Bishop, a local eco-expert, on Organic Gardening and Landscaping. Following the discussion there will be afternoon info sessions on such gardening topics as Native Plants, Invasives, and Organics.
Other highlights of the EcoFest include:
- Share eco-friendly ideas for lawn and yard gardening!
- Network with Arlington groups that are involved in sustainable actions!
- Arlington residents can purchase compost bins at a reduced price!
- Meet local sustainable landscapers!
- Learn about the newest products and ideas from local, "green" vendors!
The event if free and open to the public. Refreshments will be available for minimal cost.
For more info on the festival and to find out how you can get involved, contact Ruth at 781-316-3108 or Patsy at 781-858-8629. You may also email ecofest@town.arlington.ma.us or visit the EcoFest web site at
www.arlingtonma.gov/ecofest.
As a special treat and thanks to a grant by the Arlington Recycle Committee, the first 60 Arlington residents to purchase a New Age Composter, regularly priced at $50, will be able to get them for $25! Also available will be Bio-Orb Composters, of which the first 40 Arlington residents will only have to pay $59.95 (normally $89.95)! You may pre-order the Bio-Orb Composters by visiting
nerainbarrel.com/Arlington.html.
Do you plan on attending? Or do you currently use either of the composters mentioned above? Tell us your favorite composting story (if there is such a thing!) or share your photos of the EcoFest on our
Avenue 3 Real Estate Facebook page (and become a Fan while you're there!).
Until next time, Peace!
-TMC