Archive for March, 2014

Have you checked your credit report(s) within the past 12 months?

Did you know that we all have the opportunity to check our credit reports for free once a year?  And are you doing that? Well if you are not, you should be.  Thank you to Kim Carpentier from Valley Credit Repair and Credit Coaching for sending the link to this 60 minutes exposure of the credit reporting industry.  According to Kim, “It’s a crazy industry and 60 Minutes has exposed the Credit Bureaus for what they are, “Mistake Ridden”.  This industry has gathered information on you and sells this information without your consent or knowledge, whether it’s correct or not.

Please take 15 minutes and watch this 60 Minutes expose on the industry.”

Thank you to Kim for reminding us how important it is to check our credit.  We don’t want to be doing this in the middle of trying to obtain a mortgage.   Joan Parcewski, Woods Real Estate   joan@woodsre.com   O 978-262-9665    C 978-376-3978   www.JoanParcewski.com

 

http://www.cbsnews.com/videos/40-million-mistakes-is-your-credit-report-accurate-50140748/

For more information on Valley Credit Repair – contact Kim directly

Kim Carpentier

General Manager
Lawrence, MA 01841

Housing Opportunity Comes in an Ugly Box

Another great article by guest blogger Kathy Vasel of Sage Bank.  And this goes out not only to the buyers who may be on the fence but also to the sellers.  The same opportunity is out there for you as you will not only be selling your house but more than likely will also be buying one.  This is the time to put your home on the market and make your dreams happen.     Joan Parcewski, Woods Real Estate     joan@woodsre.com    O 978-262-9665   c 978-376-3978

 

Is it really an opportunity now to invest in real estate when it seems to be declining?  Or did you miss the boat?  Those are great questions! You will see why I believe it is still a great investment!  It is not only one of the reasons below but all of them to create this tidal wave of opportunity.   Opportunity doesn’t come in a pretty box with a bow for you to open…it is ugly.  The stars have never been better aligned to buy real estate.  If you wait the opportunity window will close.

Where are the interest rates?  Rates are currently at the lowest level in history.  Let me say that again…rates are at the lowest they have been in history.  Talk to your parents who may have bought their first home with an 18% interest rate.  Do not think the rates will stay where they are forever.  We have been spoiled and this is not reality.  Do not get fooled.  Normally interest rates follow gold prices.  Have you seen the way gold is growing in value?  The Feds are holding rates down which is not normal.   Interest rates are affected by stocks and bonds.  When the stocks decline, bonds improve and interest rates will go up.  The Feds job is to bring inflation to turn the market around.  Inflation helps the government but hurts people.  I predict as a nation the Feds have to have inflation and rates will go up.   The only good thing about inflation for the people is that their home values increase.

Let’s talk about population…there are 310 million people who need a place to live.  They either live in a home, need to buy a home, or rent which will absorb the real estate on the market.  There are approximately 15 million college students.  The normal tracks of life are to graduate, get married, and you guessed it buy a home.   Once they graduate and start buying real estate will soar and bring up values.

Historically, appreciation for real estate is a 6% average.  A great example of appreciation is when Manhattan was sold in the year 1600 for beads and cloth which was equally valued for $24.  If that money was invested into the bank the mathematical calculation with compounded interest would be worth over $200 billion today.  My point is everything appreciates historically even though currently you may not be seeing that appreciation.  So let’s say real estate may only grow in value at 2% to use worst case scenario.   Let’s use this example, if you were to purchase a home today for $100,000 and used $10,000 for a down payment.  With a 2% appreciation growth in that house you gain a $2,000 value.  Since you invested $10,000 that equals a 20% return on your investment.  Are you getting that in your bank account right now?  Not to mention, you will have tax deductions when you buy real estate which increases your wealth and net worth.

Are we at the bottom you might ask?  If the rental for a single family home is at $1,400 per month and you can get a mortgage payment for the same $1,400 per month it is an indication that we are at the bottom.  Oh and by the way, this is absolutely attainable right now.  However, you may be still thinking you want to make sure you get the cheapest purchase price you possibly can and want to still hold out and wait.  Or you may be afraid of overpaying.  If you buy when the market is still going down you are buying right.  Some thoughts you may have are:  I don’t want to settle on this market, I want to buy the cheapest price, I ‘m afraid to over pay.  Fear can turn to greed which may cause you your self inflicted loss.  Do you remember grandparents telling you I wish I bought when?  Don’t let this happen to you.  When the market rebounds and home prices start increasing you will have missed the boat.  When prices increase again that means that it is gone…the market sailed by you.

Are you a follower or a leader?  So here is the real question to think about.  If you are a leader you will do your own research and determine it is without a doubt a remarkable time to buy real estate.  Most leaders make their money when they don’t follow the crowd.  When the crowd starts making purchases it is too late to buy at the lowest level, because everyone is doing it and this causes values to increase.  Remember history repeats itself and what goes down must come up. In 1992 there were many articles written that will make you think you are reading about today’s news.   Do you remember what happened after 1992?  Did we have a real estate boom?

Educate yourself, buy smart…Buy Now!  Go find out about the ugly box of opportunity waiting for you.

Kathy Vasel
Senior Mortgage Consultant
NMLS# 50076
sage bank

 

66 Concord Street, Suite M, Wilmington, MA 01887

 

 

Direct: 978.433.5322
Office: 781.995.3440
Mobile: 978.502.2998
Fax: 781.995.3423
kvasel@sagebank.com

 

Looking for Places to Eat and Things to Do?

As we enter “meterological spring”,  those of us who are not snow people are looking for something that will help our winter blues:

1- Do you like to browse for antiques year round?   Where best to browse but in New England’s oldest antique shopping district with more than 500 dealers (Route 4 Antique Alley in NH – through the towns of Northwood, Lee, Epsom, and Chichester NH). Visit their website http://www.nhantiquealley.com/ for more info

OR Perhaps you might like a trip to Essex MA.  There are more than 30 antique shops on Rte 133 in Essex (just a 45 minute drive from Boston)

2. Have you tried out Mardi Gras – New England style?   Yes, even New England can celebrate Mardi Gras and where else but at Faneuil Hall Marketplace in Boston.  Come down on Fat Tuesday, March 4th, between 2pm and 6pm for the Mardi Gras Procession and then to the restaurants in the Marketplace to celebrate. 

3. St Patrick’s Day is just around the corner.   Don’t miss Lowell’s Irish Cultural Week  with the St Patrick’s Day parade on Sunday, March 9th.

OR Perhaps take the trip into South Boston, where they hold the second largest parade in the country.  Parade kicks off at 1pm on Sunday, March 16th.  The parade winds its way from West Broadway, winding its way through the streets of this old New England town and ending several hours later at Andrew Square. 

2. Want to start your day on a fun note?  Stop by the Gingerbreadh Construction Company in either Winchester or Wakefield and enjoy one of their delicious muffins (including 19 innovative flavors – a Phantom Gourment favorite includes the Chocolate Dreme with luscious chocolate creme injected into a most chocolate muffin)

OR Perhaps a stop at Mul’s Diner on West Broadway in South Boston.  Try their eggs benedict layered with prime rib NY sirloin or Phantom Gourmet’s favorite, Creme Brulee French Toast

OR Travel to In A Pickle on Moody St in Waltham and tempt your palate with enormous fluffy buttermilk pancakes.  Load them with Snickers, M&Ms or Reeses Peanut Butter Cups or perhaps one of more than a dozen kinds of omelets.                       

Hope I have given you a few thins to look forward to as we enter the last days of winter.  Remember to turn your clock’s ahead next weekend as we step that much closer to the official first day of spring, soon to hear those true sounds of spring and summer – “Play Ball”

Happy March –

Joan Parcewski, Woods Real Estate       www.JoanParcewski.com    Joan@woodsre.com    Cell 978-376-3978

GRI (Graduate Real Estate Institute, CBR (Certified Buyers Representative), SFR (Short Sale & Foreclosure Resource), LMC (Loss Mitigation Certified), CDPE (Certified Distressed Property Expert), CIAS (Certified Investor Agent Specialist), SRES (Senior Real Estate Specialist), AHWD (At Home with Diversity), BPOR (Broker Price Opinion Resource), GREEN, E-PRO, MRP (Military Relocation Professional)

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