Monthly Archives: April 2012

Not Your Average Negotiating

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Not Your Average Negotiating ♦ Strategies for todays market

The local North Shore market is constantly changing. As many of you may have heard or even experienced, the negotiating aspect has become aggressive and anything but average. Working with buyers I have heard IT ALL when it comes to what they think is the proper way to submit an offer and initiate negotiations with a seller. “I read in an article that houses sell 20% below list price so I should start 40% below the list price,” “My parents told me to offer $50,000 less than what the seller is asking,” or my absolute favorite being “I want to start really low to see how much the seller is willing to come down, I have nothing to lose right?” Nothing to lose? I suppose that if missing out on the home of your dreams is considered nothing then YES you have nothing to lose. Please don’t hold me accountable when your fathers, brothers, friends strategy doesn’t result in an accepted offer.

With the influx of short sales and foreclosures, historically low interest rates and available loan programs buyers and buyers agents are facing some serious competition when making an offer on a property. Banks have underpriced their properties to move them quickly. This strategy has stimulated an overwhelming amount of interest and resulted in multiple offers over the original asking price. Agents and sellers are also implementing this strategy on short sales and traditional sales to stimulate competition.

Here is the data to put it all of this into perspective. In the past 6 months 285 single family homes have sold in Peabody, Beverly and Danvers. Of the 285 sales 35 of them sold for more than the asking price while another 24 sold at the full asking price. 21% sold for at or over the asking price. The market has changed. Buyers who don’t want to miss out on a house they really want should get accurate information from a knowledgeable buyer agent who will be able to show them if a property is priced below market value. With the proper information buyers can make an informed decision on the correct offer so they don’t miss out on the home of their dreams!

We are Essex County real estate specialists centered in Beverly. Our group have over thirty-five years of collective experience in Massachusetts property. If you would like to schedule a buyer or seller consultation please feel free to call our office at (978) 524-8725 or leave us a message here.

The Northshorist Group offers so much more than just real estate expertise. We spend the time to learn about expectations and lifestyle. Combining that with a strong focus on the buyer or seller’s best interest creates an incomparable experience. Most importantly we are longtime residents of, and love, the North Shore. Click to browse waterfront properties, luxury homes, foreclosures, short sales, multi-families, or make your own search.

Topsfield-Wenham Rail Trail

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Week 1 (The Beginning) ♦ Running the Topsfield-Wenham Rail Trail

By the time I laced up my running shoes, the new trail on the old rail bed along 97 had been taunting me for some time. I hadn’t run since my highly unsuccessful stint as a high school track athlete but I wanted to undertake this challenge. Having been active in exercise for the past few years, I thought it wouldn’t be the agony that I so vividly remembered. In many ways I was wrong.

On a map, I judged the distance between the trail’s two intersections of 97 to be about half a mile long. Thus the plan was to run the length and back. A bit less than halfway through it became readily apparent that not only had I incorrectly judged the distance but simply going one way was going to be about a mile and a quarter.

Upon this realization my legs quickly began to beg me to halt this irrational activity and my stomach made every attempt to pause my progress. But I never stopped, finishing with a time of 9:24 and a long walk back.

We are Essex County real estate specialists centered in Beverly. Our group have over thirty-five years of collective experience in Massachusetts property. If you would like to schedule a buyer or seller consultation please feel free to call our office at (978) 524-8725 or leave us a message here.

The Northshorist Group offers so much more than just real estate expertise. We spend the time to learn about expectations and lifestyle. Combining that with a strong focus on the buyer or seller’s best interest creates an incomparable experience. Most importantly we are longtime residents of, and love, the North Shore. Click to browse waterfront properties, luxury homes, foreclosures, short sales, multi-families, or make your own search.

Alex Johnson: trainer at Beverly Athletic Club

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7 Reservoir Rd, Beverly ♦ If you are going north on Sohier from 1A Reservoir Rd will be on your left

Camping in the backwoods of New Hampshire would stand as no excuse to skip out on exercising. My mother, who had recently rejoined the workout world, knew she could not avoid joining in but my aunt and her best friend had no such obligation. Still I goaded them, fully expecting a light hearted brush off. Yet that was not the case at all. Instead they jumped at the chance with a surprising vigor.

They displayed a coaching and discipline that blew me away. My mother fed off their enthusiasm and perseverance. She consistently pushed herself far beyond where she normally gave up on me. Day after day I tried to think of new ways to challenge them but all my efforts ended in failure. They had been to the mountain and were unafraid.

When I approached them to learn their routine at home they were not shy in giving all the credit to their trainer, Alex Johnson. I must say, I could not have been more impressed.

Alex Johnson works at the Beverly Athletic Club building programs to meet his client’s specific needs. He has worked as a Strength and Conditioning coach with top level athletes and as a Head Performance Coach. He is also a certified to train Olympic lifts through USA Weightlifting.

Find other local businesses in our Business Directory

We are Essex County real estate specialists centered in Beverly. Our group have over thirty-five years of collective experience in Massachusetts property. If you would like to schedule a buyer or seller consultation please feel free to call our office at (978) 524-8725 or leave us a message here.

The Northshorist Group offers so much more than just real estate expertise. We spend the time to learn about expectations and lifestyle. Combining that with a strong focus on the buyer or seller’s best interest creates an incomparable experience. Most importantly we are longtime residents of, and love, the North Shore. Click to browse waterfront properties, luxury homes, foreclosures, short sales, multi-families, or make your own search.

Market Value vs Assessed Value

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Market value & assessed value misconceptions ♦ Why is the asking price different than the assessed value?

Assessed value and market value are terms that are often confused. They are not the same thing. Too often buyers want to use assessed value as a measure of what price to offer a seller. In turn sellers also tend to use it to determine the asking price for their home. Let see if we can clear up some misconceptions.

To calculate property taxes the cites and towns use an assessment. In Massachusetts this assessed value is based on 100% of full market value. Each city or town’s assessor is required to submit assessed value to the State Department of Revenue every three years. To determine full market value assessors use property sales from prior years. For example in the fiscal year of 2012 assessments represent market value as of January 1, 2011 and are based on sales from 2010. If property values were significantly higher or lower two years ago the discrepancy between current market value and assessed value will be appreciably different.

Market value is the most probable price that a property will sell for if exposed to buyers in a competitive market when the sellers are not forced to sell. Simply stated it is the highest price that a property would yield when marketed for a reasonable amount of time.

In summary, assessed value is the valuation placed on a property for taxation. Market value is an agreed upon price between a buyer and seller or, in other terms the highest price a property will bring when exposed to the market.

If you are buying or selling real estate remember the assessed value will determine the amount of taxes you will pay but unfortunately can’t help determine sale price.

We are Essex County real estate specialists centered in Beverly. Our group have over thirty-five years of collective experience in Massachusetts property. If you would like to schedule a buyer or seller consultation please feel free to call our office at (978) 524-8725 or leave us a message here.

The Northshorist Group offers so much more than just real estate expertise. We spend the time to learn about expectations and lifestyle. Combining that with a strong focus on the buyer or seller’s best interest creates an incomparable experience. Most importantly we are longtime residents of, and love, the North Shore. Click to browse waterfront properties, luxury homes, foreclosures, short sales, multi-families, or make your own search.

Dogtown

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A Different Point of View ♦ Dogtown through the eyes of our forester Bianca

Dogtown is the kind of place that you immediately want to know the history. Nestled at the crest of a steep hill beside the rocks and stunted vegetation is the once-alive small town. The numbers of the houses are carved into rocks along the edge of the trail, while the cellar holes live on.

It’s peculiar to see such a place that still exhibits lasting remnants. The numbers and words are what make this a sure-fire destination spot. Why would a settler choose a place like this? There seemed be to little fertile soil and no wide open spaces to graze. One can only imagine digging the boulders from their foundation in order to establish permanence.

I like to think it as a rebel town full of kooks and misfits. This isn’t true, but Dogtown is plenty unusual anyway. The writings on the rocks are hopeful suggestions. A skillful and ironic graffiti artist saying “Use Your Head,” “Study,” “Be On Time,” and “Help Mother.”

Here, the imagination has room to move.

By Bianca
Forester to Northshorist

We are Essex County real estate specialists centered in Beverly. Our group have over thirty-five years of collective experience in Massachusetts property. If you would like to schedule a buyer or seller consultation please feel free to call our office at (978) 524-8725 or leave us a message here.

The Northshorist Group offers so much more than just real estate expertise. We spend the time to learn about expectations and lifestyle. Combining that with a strong focus on the buyer or seller’s best interest creates an incomparable experience. Most importantly we are longtime residents of, and love, the North Shore. Click to browse waterfront properties, luxury homes, foreclosures, short sales, multi-families, or make your own search.

Toys N Things

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66 Maple St, Danvers ♦ In the middle of Danvers, next to Giovanni’s and across from Cakes for Occasions

Piles of dice sat sidelined while miniatures were removed from the battlefield. A temporary truce in the gaming schedule had been struck in the name of nourishment.

So myself and two friends gladly walked to one of the many adjacent sub shops. I had been preparing with one of them nearly every Monday during Toy’s war gaming night. It paid off as I defeated him in the first round. My other friend, that I only see during these tournaments, seemed destined to be my opponent in the finals. We had been anticipating this moment for the last month, repeatedly sending each other empty threats over the internet. Collectively we considered every kind of trickery in an attempt to find advantage. Friendship even trumped competition as we schemed against ourselves.

We returned nourished and ready to engage. Moments later Toys N Things was again filled with laughter, excitement, and the cries of victory.

If you are interested in any kind of gaming, whether it be a collectible card game, miniature wargaming, tabletop roleplaying, board gaming, or something else entirely there is really no better place around. The owner Evan has cultivated a fantastic atmosphere that is a lot of fun to be a part of and is extremely welcoming to newcomers. Join the fun with Toys N Things here.

Find other local businesses in our Business Directory

We are Essex County real estate specialists centered in Beverly. Our group have over thirty-five years of collective experience in Massachusetts property. If you would like to schedule a buyer or seller consultation please feel free to call our office at (978) 524-8725 or leave us a message here.

The Northshorist Group offers so much more than just real estate expertise. We spend the time to learn about expectations and lifestyle. Combining that with a strong focus on the buyer or seller’s best interest creates an incomparable experience. Most importantly we are longtime residents of, and love, the North Shore. Click to browse waterfront properties, luxury homes, foreclosures, short sales, multi-families, or make your own search.

Knob & Tube Wiring

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Knob and Tube Wiring ♦ Should you remove it?

Knob and tube wiring was the standard method of electrical wiring used from 1880 until the 1940s. Now, this wiring is considered obsolete and can be a safety hazard. The dangers are not in the wiring itself but can stem from age, improper modifications, and situations where insulation surrounding the wiring could be a fire hazard. There is also no ground wire so it cannot service three-pronged plugs.

With so many older properties in New England it is not uncommon to see some knob and tube wiring still in use. If you have it in your home it should be evaluated by an electrician who can assure you that it has been properly modified and is safe.

If you are planning to sell your home and it still has knob and tube wiring in use, you should have an electrician give you an estimate to remove it. In the past few years most insurance companies have refused to insure houses that have knob and tube wring due to the risk of fire. Home inspectors will definitely point it out during an inspection and recommend it be removed. It is better to be prepared for removal than to have it stall the process after you have negotiated a price or even worse to scare a potential buyer who may decide not to go forward with the purchase.

We are Essex County real estate specialists centered in Beverly. Our group have over thirty-five years of collective experience in Massachusetts property. If you would like to schedule a buyer or seller consultation please feel free to call our office at (978) 524-8725 or leave us a message here.

The Northshorist Group offers so much more than just real estate expertise. We spend the time to learn about expectations and lifestyle. Combining that with a strong focus on the buyer or seller’s best interest creates an incomparable experience. Most importantly we are longtime residents of, and love, the North Shore. Click to browse waterfront properties, luxury homes, foreclosures, short sales, multi-families, or make your own search.

Dogtown

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Boardwalk ♦ Dogtown with forester Bianca

At first I thought the boardwalk was a concrete bridge. There were no boards and it wasn’t much of a walk, but it fit the map. Luckily, at the end of the composite span the true boardwalk revealed itself.

We approached it curiously, not knowing how deep into the marsh it might slither. The wood was ever so gently frozen into standing water by practically superficial ice. There was much entertainment in making the frozen top layer crack and snap.

Freezing had obviously taken it’s toll on the path. During the quarter-circle course, the planks regularly buckled and slanted but only in the most visually appealing ways and without circumventing functionality. It felt like being allowed into a place where we had no right to be, a welcomed stranger on a winter day.

We are Essex County real estate specialists centered in Beverly. Our group have over thirty-five years of collective experience in Massachusetts property. If you would like to schedule a buyer or seller consultation please feel free to call our office at (978) 524-8725 or leave us a message here.

The Northshorist Group offers so much more than just real estate expertise. We spend the time to learn about expectations and lifestyle. Combining that with a strong focus on the buyer or seller’s best interest creates an incomparable experience. Most importantly we are longtime residents of, and love, the North Shore. Click to browse waterfront properties, luxury homes, foreclosures, short sales, multi-families, or make your own search.

Brent Miffitt: trainer at Crossfit Wicked

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3 Ajootian Way Building D Unit 4, Middleton ♦ Take River St off 114, then a left onto Natsue Way before pulling into the Riverview Industrial Park

Lungs kick back the chilled air that still lingers about in the splendor of dawn. A worn motivation pants feverously, trying to recollect itself after an onslaught of successive wind sprints.

I had absolutely no problem imaging in detail the story told by one of Brent’s clients about her first class. And after she described the soreness that radiated throughout her legs I wasn’t surprised to hear about her excitement for more. Why not? Six more free classes and the ability to fit in a workout at 5:30 AM; her only respite from a stifling 7 AM-7 PM work day.

I should have known Brent was on to something years ago when he first described to me these odd looking cannonball-shaped weights. Now kettlebells are available in any decent sized department store. Then he went on to teach Crossfit before there was even a Crossfit games. Now the games are streamed on ESPN and in 2011 his team placed 17th in the world. At least I can still razz him with a sarcastic “what happened, only 17th?”

Go here for more information about Brent Miffitt and Crossfit Wicked.

Find other local businesses in our Business Directory

We are Essex County real estate specialists centered in Beverly. Our group have over thirty-five years of collective experience in Massachusetts property. If you would like to schedule a buyer or seller consultation please feel free to call our office at (978) 524-8725 or leave us a message here.

The Northshorist Group offers so much more than just real estate expertise. We spend the time to learn about expectations and lifestyle. Combining that with a strong focus on the buyer or seller’s best interest creates an incomparable experience. Most importantly we are longtime residents of, and love, the North Shore. Click to browse waterfront properties, luxury homes, foreclosures, short sales, multi-families, or make your own search.

MA Foreclosure Process

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Foreclosure timeline ♦ What happens when you get behind on mortgage payments?

Foreclosure laws differ from state to state. Massachusetts is known as a non-judicial state. That means that foreclosure does not involve court action, what is does require is a notice commonly referred to as foreclosure by sale.

When a homeowner misses a mortgage payment or payments, the lender will send the homeowner a 90-day right to cure. During that 90-day period the lender should be working with the homeowner to cure the default.

If the homeowner cannot come current, or come to an agreement with the lender, a demand for payment in full will be made and the note will be accelerated. Next the homeowner will receive a notice of intent to foreclose. This notice needs to be 21 days before the scheduled auction sale.

In Massachusetts the lender is required to file in Land Court a complaint to verify the homeowner is not protected under the Service Members Civil Relief Act of 2003. Only homeowners actively serving in the service can take advantage of this act. The homeowner will be sent this complaint but does not need to respond unless they are active in the military. If the homeowner is not in the military Land Court will then issue a judgement in favor of the lender who can hen can proceed with the foreclosure without further court involvement.

The lender will notify the homeowner by registered mail that the property will be sold at auction. This notice will be published in the newspaper for three consecutive weeks. On the auction date the house will be sold to the highest bidder who is most often the bank.

This process from beginning to end can take 6 to 9 months or more. Since the Mortgage Services Settlement Act was enacted the timeline for foreclosures will be shorter than it has been during the past two years.

Be wary of solicitations from mortgage brokers, lender or attorneys who offer mortgage foreclosure rescue schemes. There are many scams trying to take advantage of sellers who maybe in default.

We are Essex County real estate specialists centered in Beverly. Our group have over thirty-five years of collective experience in Massachusetts property. If you would like to schedule a buyer or seller consultation please feel free to call our office at (978) 524-8725 or leave us a message here.

The Northshorist Group offers so much more than just real estate expertise. We spend the time to learn about expectations and lifestyle. Combining that with a strong focus on the buyer or seller’s best interest creates an incomparable experience. Most importantly we are longtime residents of, and love, the North Shore. Click to browse waterfront properties, luxury homes, foreclosures, short sales, multi-families, or make your own search.