RE/MAX First Choice RE's Blog

RE/MAX Prestige Acquires RE/MAX First Choice of Northborough/Marlborough

ericappleton — Fri, 14 Jan 2011 19:34:45 +0000

It is with great pleasure that we announce to you today that RE/MAX Prestige has acquired RE/MAX First Choice R.E. With this acquisition RE/MAX Prestige adds 45 new Team members who will add over 600 transactions and $200 million dollars in sales volume. We are thrilled and honored to welcome you all into the Prestige family.

The combined company will collectively do over 3000 transactions, over $600 million in sales volume, and have over 250 of the best agents agents in Massachusetts and New Hampshire. This expansion will give RE/MAX Prestige 2 prime offices in Worcester county and start to bridge the gap between our Eastern MA/Southern NH and Western MA operations.

We would like to thank Jim Flanders, Broker/Owner of RE/MAX First Choice R.E., for his over 20 years of dedicated service to the RE/MAX system. We also would like to thank Jim for the trust and confidence he has placed in us and for allowing us the great opportunity to expand RE/MAX Prestige into central Massachusetts.

RE/MAX Prestige will continue to offer the very best Motivation/Inspiration, Technology, Training/Education, Lead Generation Tools, Administrative Support, and company culture to its entire company. We will continue to grow by adding new Team members, adding additional offices, and increasing our production throughout Massachusetts, New Hampshire, and Connecticut. The expansion plan that we have had and will continue to have will benefit all of you by adding more market share, more great agents to learn from and benefit from, the ability to keep your investments as low as possible, the ability to add significant benefits to your existing business, and the ability to continue our goals of increasing production and time with family for all.

This acquisition is significant for our entire company and all of our agents. The addition of these new great agents makes RE/MAX Prestige the 3rd largest real estate firm in Massachusetts and a Top 20 RE/MAX firm in the world. You should all be very proud of what you have accomplished over these past years and the future looks very bright for all of you.

We would like to thank each and every one of you for the opportunity to work with you and we will be talking to each of you individually over the next few days. Together we will continue to prosper!!!

Welcome Aboard!!!

Andy

Andrew F. Armata
Broker/Owner
RE/MAX Prestige
www.RemaxPrestige.com
Offices In: Billerica, Chelmsford, Wilbraham, Tyngsboro,
Tewksbury, East Longmeadow, Dracut, Westford,
Groton, Pelham, & Methuen
11 GREAT Offices – 1 GREAT Team!!!
Cell: 978 479 1794

ericappleton — Tue, 04 Jan 2011 14:38:27 +0000

Happy New Year to All,

We at Re/Max First Choice want to thank all our Clients and agents for working with us during this last challenging year. We hope that 2011 we’ll bring improvement in our market.

Although there are many hurdles to overcome for all involved in the Real Estate industry, 2011 may be the last year where we are looking downhill at lowering prices and volume.

If this boom and bust cycle has any correlation to prior cycles, at least in terms of time, we should be climbing the hill by this time next year.

What will be left are the truely valuable members of our industry who were able to weather one of the worse financial storms in the modern period.

These agents are the ones that our clients will see as adding more value, not only in terms of sale price, but in the ability to navigate a much more complex lending and sales process.

My best to all in the coming New Year.

RE/MAX First Choice Real Estate

NORTHBOROUGH AND MARLBOROUGH

Eric Appleton

Manager / Broker

155 Otis Street

Northborough, MA 01532

Ph: 508.393.5000 x222

Cell : 508-450-1693

Fax: 508.351.1582

Em: appletonrealty@gmail.com

www.firstchoicehomesma.com

RE/MAX FIRST CHOICE GETS NEW CONDO PROJECT IN MARLBOROUGH,MASSACHUSETTS

ericappleton — Wed, 22 Sep 2010 22:49:08 +0000

Marlborough council panel backs condos at Corbin Plaza

The following excerpt details a new project that will be sold by Re/Max First Choice Agent Lyn Gorka, following the success of the ST.Mary’s sales over the last year.

By Paul Crocetti/Daily News staff

The MetroWest Daily News

Posted Sep 22, 2010 @ 12:41 AM

MARLBOROUGH —

City councilors last night strongly supported plans to turn a large vacant building on Pleasant Street into condos.

The City Council’s Urban Affairs Committee voted 5-0 to recommend approving a special permit application for the proposed development at the four-story building at 110-118 Pleasant St., commonly called Corbin Plaza.

The “Howe Shoe Factory Condominiums” would have 17 two-bedroom condos and one business office. The condos would likely cost between $220,000 and $230,000, said Stas Burdan, the developer who placed the high bid on the property at an auction earlier this month.

The developer previously converted St. Mary’s Church in Marlborough into condominiums. The 25 condos at the church, school and rectory all sold. The developer is also selling 11 townhouses next to the church.

“I was ecstatic when I heard you wanted to develop this,” Councilor Edward Clancy told the development team. “I’m very confident you will turn this into a first-class project.”

The project would be the next piece of a “quite significant” renaissance in the area, which also includes the Christopher Heights housing complex, said Councilor Robert Seymour.

The development team has proven itself, turning the closed St. Mary’s Church into vibrant homes, Councilor Patricia Pope said. The developer also responded well to concerns about the St. Mary’s project, Pope said.

The developer has met with several neighbors of the Pleasant Street property. Some families were very interested in the proposed development, Burdan said.

The building was the Howe Shoe Factory before it was Corbin Plaza, said attorney Arthur Bergeron, who represents the developer. The proposed development would give residents a chance to own a piece of history, Burdan said.

The property went on the auction block two other times in the last two years but remained vacant. The city foreclosed on the property in 2008 after the former landlord could not pay the back taxes.

“This building has been an eyesore for many, many years,” said Betty Rigney, of Franklin Street.

Knowing that the developer sold all the condos at St. Mary’s is comforting, Rigney said.

The City Council plans to vote on the special permit at its Monday meeting.

The developer placed the high bid of $356,000 – $1,000 more than the next highest bidder – on the building at a Sept. 2 auction. Since it was an auction sale, the closing date of Oct. 18 cannot be moved or the next highest bidder can challenge, Bergeron said.

The developer needs the special permit before it can get its funding in place.

Since the City Council is working with an expedited special permit process, the Urban Affairs Committee took resident feedback, which is normally reserved for the public hearing. The City Council will hold a public hearing on Monday and could make changes to the special permit conditions.

Burdan said his team intends to start working on the project right away. The developer would move its offices to the building.

“They’re planting their roots up on French Hill and that’s always good to see,” Councilor Paul Ferro said.

The project also needs to go through site plan review.

(Paul Crocetti can be reached at 508-490-7453 or pcrocett@cnc.com.)

What will it take to sell your house in the 2010 Market?

ericappleton — Mon, 05 Apr 2010 18:37:47 +0000

What will it take to sell your house in the 2010 Market?! There is only one certain way to sell your home in this market of uncertainty. It all amounts to price. There are several things that homeowners can do to help sell their home quicker such as painting the interior woodwork or sprucing up the lawn to try and capture that drive-by curb appeal, but at the end of the day a perfect house with a steep price tag will sit like an obedient dog waiting for its owner’s next command and a disappointed owner at that.

With over fifty years of combined experience among us at the Mathieu Group, we’ve heard just about every argument from those disappointed owners. In this market, they might argue, “But we paid more than that five years ago,” or “if you add up all the money we’ve invested, it should be worth more.” Unfortunately, in this market it all comes down to a proper pricing strategy.

Typically most sellers fall into one of two categories—motivated or unmotivated. Motivated sellers have to sell within a reasonable timeframe in order to move on to their next priority. The unmotivated sellers have no timeframe and will wait as long as it takes to get the highest price. Buyers can be separated into two similar categories. The motivated buyers need to buy within a set timeframe and unmotivated buyers want the lowest price, and they will wait for it.

That being said, it should come as no surprise that the most common real estate transactions occur between the motivated sellers and the motivated buyers. Occasionally, the unmotivated ones get lucky. They sell overpriced or buy under value and boast, and then brag like a March Madness champ, but the majority of the “unmotivated” wait—wait to sell, wait to buy—wait for a golden opportunity that never comes.

At the end of the day, the market is driven by the most basic, unemotional, and non-biased principal of supply and demand. When the demand is greater than the supply, the values are strong. When the supply becomes greater, prices fall. However, as we proceed further into 2010, more and more sellers are coming to grips with the reality that the market does not care what they paid for it five years ago or how much those new gutters and boiler cost. Also, more buyers are realizing that values in central Mass have held their own through this wicked storm, and now a brighter future in real estate is on the horizon. Already this year, between ten and twenty percent of the available market in the area have accepted offers and are under contract.

So what will it take to sell your house in the 2010 Market?! A great price given by the professionals who know best! At the Mathieu Group of RE/MAX First Choice, we pride ourselves on our dedication and passion for our clients. We’re in the trenches every day so you don’t have to be. Giving our clients an experience unlike any other, we offer three agents for the price of one. Each client and their transaction are treated to three times the attention that the average agent can offer. The Mathieu Group of Re/MAX First Choice is made up of two full time in-field agents who work tirelessly seven days a week and a full time in-office licensed assistant who works to make sure every detail is properly addressed. Why settle for less, when you deserve the best? Call Mike Mathieu or Ed Newton today at 508-351-8111 or visit our web site, www.mikemathieu.com.

Why you should use a full time real estate Salesperson or Broker.

ericappleton — Wed, 03 Mar 2010 23:24:03 +0000

Do you expect your Financial Advisor to work only on weekends and after 5pm? Do you expect your doctor to only be available occasionally and odd hours? No? Then why would you hire someone to represent you in a real estate transaction, the single highest denomination transaction(s) in most people’s lives, who only does it as a side job.
During the boom years of 2000 to 2006 the number of Realtors ®, the dominant trade group for the industry in the United States, climbed to 1.25 million*. This was an increase of 63% in a Trade group that accounts for only 60% of licensed agents nationally**. On a local level, the Worcester board of Realtors has “a membership of approximately 1,500 agents”*** out of approximately 2,740 licensed Salespeople and Brokers in their covered area. In 2008 40% of Real Estate licenses in Massachusetts had NO transactions****. These statistics are expected to be the same or greater for 2009. These numbers indicate that many agents do not consider real estate sales their primary occupation.

Why these seemingly arcane factoids? Despite a great deal more information on real estate available on the internet, there is no replacement for on the ground knowledge and localized experience. Your full time agent knows, or has access to, information that is not on the web. They are constantly networking with other agents, buyers and sellers in the areas that are most important to you. This lets them know what competition you face, buying or selling, before it goes to the multiple listing services and the web. They have unique insights into new construction, coming to market properties, and REO properties that have yet to come to open market. This gives them all the advantages that any professional who has networks and is active with others in their industry.

Does your agent know how the U.S. Bank v. Ibanez ruling is stalling troubled properties from entering your market? Does your agent know how to research off market sales? Does your agent have the experience and /or guidance from seasoned professionals to identify pitfalls in closing your particular type of transaction? Does your agent have “skin in the game”? Do they have an investment of more than time spent in their business (i.e. marketing dollars)? Does your agent know the ins and outs of the extended buyer tax credits? Have they been at the Broker’s open house, or shown the closest comparable property to yours, and know why it did or did not sell for the price the seller wanted? Can they help you if you are one of the 25% of homeowners in Massachusetts who are overleveraged? These are only a few of the questions that a professional can answer for you, and you need to know.

The most important question is how many transactions have they successfully completed in their chosen specialty.Your average salesperson at an independent Real Estate Office closes 6 transactions a year. An average large franchise salesperson closes 6 to 8. The average Re/Max® agent closes 12 transactions****.

So if you would like a professional to work for you, whose only job is to serve his or hers Real Estate clients, buyer’s or Seller’s, call us at RE/MAX FIRST CHOICE. We will find a full time dedicated agent who best fits your requirements.

RE/MAX First Choice Realtors
Eric Appleton
Manager
155 Otis Street
Northborough, MA 01532
Ph: 508.393.5000 x222
Fax: 508.351.1582
Em: eappleton@remaxfirstchoice.com
www.firstchoicehomesma.com

*WSJ online, James R. Haggerty, 2/07/06
**Realtor.org 2/22/10
*** Direct Quote, Worcester Board of Realtors, 2/23/10
****Re/Max New England, source Real Trends , 6/15/09

Spring is the time for opportunity!

ericappleton — Wed, 27 Jan 2010 17:02:30 +0000

This article by one of our agents, Doug Stone, was featured in the Community Advocate on January 26, 2010.

Spring is the time for opportunity! For richer or poorer, this article is for you so let’s begin with the good news. Buyers have the benefit of near record low interest rates: 5% for a 30 yr. fixed and an incredible 5 yr. adjustable for 3 3/4% (rates courtesy of Wells Fargo). I am repeatedly asked: “Who qualifies for this financing”? Financial institutions will make loans to buyers with good, not necessarily fantastic credit and a verifiable work history. The property being purchased must be valued at or above the loan amount sought. Today’s buyers have more choices than ever including motivated sellers with equity, bank owned properties and distressed properties or “short sales”. With a disappointing stock market and banks offering less than half of 1% in interest on CDs, real estate can be a great investment for those with some patience.

In spite of high unemployment, many others have continued to invest in real estate. In 2009 I was fortunate to experience a 75% increase in sales over the previous year which included a broad mix. My sales involved first time buyers, investors, those trading up, relocating or retiring and even new construction. Currently I’m working with a builder constructing a duplex in Northborough. Here are two opportunities to invest in brand new, upscale three bedroom homes priced in the $380s. With as little as 3 ½% down, qualified buyers can still secure an $8,000 tax credit under the extended stimulus package, but must act quickly. Buyers must have purchase agreements signed prior to April 30th with closings no later than June 30th in order to qualify.

For property owners with equity who are considering selling, take heart. Presently there are a surprisingly low number of single family properties for sale including: Northborough (50), Westborough (33) and Shrewsbury (100), although Shrewsbury’s figure includes some twenty in various stages listed as new construction. Well cared for property in excellent condition is a buyer’s first choice and will command more value.

Unfortunately markets with opportunities often come at deep individual costs. Are you afraid of losing your home? I can help you consider options such as renegotiating your mortgage so you can remain. Are you experiencing hardship due to loss of job, medical expenses, business difficulties, legal issues, excessive debt or family concerns? Have you given up the idea of selling your home because you owe more than what the housing market will bear? You may be a candidate for a “short sale”. A short sale is selling your home for less than what is owed to the bank. This leaves the bank “short” of what is owed, but this process helps you to pay off a portion of your mortgage and has much less impact on your credit than a foreclosure. A foreclosure is a near permanent mark on your credit which can affect security clearances and future employment.

Short sales can take many months to complete depending upon the bank and the experience of other professionals involved with the sale. For sellers, this is an opportunity to begin clearing up debt, while for buyers it is an opportunity to find some true values in the market.

I am a Certified Distressed Property Expert and can help you sort through your options. In addition to Realtor membership I hold other designations: CRS: Certified Residential Specialist, GRI: Graduate Realtor Institute, ABR: Accredited Buyer Representative. Please visit my Website: www.dougsells.com As a 21 year affiliate with RE/MAX First Choice Real Estate I can be reached at 508-351-1588 Office, 508-769-4965 Cell or Email: doug@dougsells.com

The Best After Christmas Sale May be Yours!!!

ericappleton — Wed, 13 Jan 2010 19:01:20 +0000

Economists predict a breakout year for the US economy with GDP growth of between 3 and 5 %. This is good news for real estate market and begs the question is now the time to procrastinate if you have reason to move? Are you “empty nesters” or “house poor” struggling to support a home that is bigger than what you need? Do you need a better house, a better neighborhood, a better location or more room for a bigger family?

2009 brought a new reality to the single family home market with Sellers more interested in improving quality of life and with less concern on short term appreciation. Also consider that the market affects buyers and sellers alike so if you sell low you will also buy low; if you sell high you’ll buy high.

Actual 2009 market declines were more in the number of homes sold than in the prices they sold for. This brought home inventories down and created a tiered market by price band. It may surprise you to know that the local market below $450,000 is actually considered a sellers market. So it is actually a good market to sell if your home is in this band. At this writing the months of inventory for single families in the local area are:

250K-$449.9K 4.0 months “sellers market”

$450-$699.9K 6.9 months “balanced market”

$700K+ 17 months “buyers market”

All real estate is local so we should also look at the market by community in the $250-$449.9K price band. Inventory levels are good for sellers in all 6 local communities. Westborough and Southborough would even be considered to be hot.

Town - Months

Hudson - 5.4

Marlborough - 3.8

Northborough - 6.2

Shrewsbury - 4.3

Southborough - 2.5

Westborough - 2.2

When you also consider lower operating costs, stable prices, low interest rates and the $6,500 federal tax credit, we may not see a time like this again.

Consider the lower interest rates. According to Bankrate.com the current average interest rate in this area is 5.1% on a $365K home with 20% down. You could save $138 per month on a mortgage now ($1585 @5.1% on $292K for 30 years vs. $1723 per month @ 5.85%) after the Federal Reserve subsidy expires. This amounts to saving $49,680 over 30 years savings if you downsize. Or, the equivalent is getting a $320,000 loan for a $400,000 home if you trade up at the higher monthly payment. The Fed subsidy intended to provide this stimulus.

The tax credit and the interest rate subsidy will both likely expire around April 30. Since selling your home may take an average of 86 days, it doesn’t leave much time to buy before April 30. The only downside is there is less choice in a buyer’s market but the upside is that there is less competition when you sell.

So it is worth considering your own situation. If you are secure in your job, are credit- worthy and want to either save money or improve your living space it may be prudent to act now and not wait for the train to leave the station. Be sure to talk to a good mortgage broker about your financial situation first. I have a few listed on the Business Partners link on my web site at www.lyngorka.com.

Even if you don’t need to move now you can still position yourself to save money and increase the value of your home using the energy efficiency tax credits available this year. I have them listed on home page of my web site at www.lyngorka.com, as well as, information and the tax form for the home buyer’s tax credit. The energy efficiency credits can cover from $1,500 to 30% of the cost of these improvements.

If you want to these or other market statistics or if you just want to see what your home is worth, I’d be happy to provide you with this information. Just call or send e-mail and I’ll get back to you right away.

So 2010 is looking like a very good year. I wish you and yours a realization of your dreams in the New Year. Happy 2010.

Tips for Timing a Holiday Home Sale

ericappleton — Mon, 16 Nov 2009 20:36:12 +0000

Courtesy of Bostonglobe.com, Bernice Ross, 11/10/09

Check out this article for some tips on selling your home during the holiday season. From the inviting atmosphere of a house decorated for the holidays, to the motivation of buyers that are looking during the holiday season, there are many pluses during this time of year. Be sure to check out the rest of the article for more thoughts.

“First-time home buyer credit, jobless benefits both extended”

ericappleton — Thu, 12 Nov 2009 01:55:46 +0000

Check this out…. the home-buyer tax credit is extended and now includes “long-term” residents, homeowners who have lived in their residence for five years or more.

What do you think? Comment below.

Courtesy of BostonGlobe.com, article by the Associated Press 11/6/09.

Vote on Tax Credit this Week?

ericappleton — Tue, 03 Nov 2009 02:06:54 +0000

BostonGlobe.com reported that after the support that came from the Senate, a vote could come as early as this week: “Congress could approve extensions of an $8,000 first-time home buyers’ tax credit and unemployment benefits as soon as Tuesday, Senate Majority Leader Harry Reid said.”

Click here to read the rest of the article!