A Cautionary Tale for Home Buyers

Anyone thinking of buying a For Sale By Owner without a REALTOR should read this!

When I started reading this story I couldn’t quite digest it and kept thinking is this a joke? The more I read, the more I thought what an incredible story and a learning experience for all of us. I for one, will share this link with all my buyer clients.

It is written from the buyer’s perspective and it includes all the data, The property address, the purchase agreement, copy of e-mails, home inspection reports and more.

It is written as a cautionary tale for all home buyers considering a FSBO without a REALTOR.

It is not a short read but once you start it you won’t be able to stop…like a best selling novel only sadly very real. I do not know the parties involved but thought this worth sharing. Read the article by clicking here>>>> FOR SALE BY OWNER FSBO Gone Wrong This will open in a separate window.

http://www.monikamcgillicuddytrainer.com

NH Real Estate Training

ABR* SRES*GRI* Agency* Ethics* New Agent Skill Building* Professional Guidelines* Negotiations* Mediation

Here She Comes…

I love this song…Of course since my nick name is Moni (mony) I’ve always been partial to it. Take a trip down memory lane with me and enjoy

Summer in Hampstead New Hampshire

The popular Summer Music series had it’s kick off event last Tuesday and will continue through out the summer.

This Tuesday evening, June 26th, 2007 at 6:30 PM Will feature the John Penny Band with his special guest, Angela West and Showdown. These guys are popular as this will be the third year in a row that they have come back. The John Penny band is a country band that is sure to have you toe tapping!

The concert will be held adjacent to the Town Meeting House on the corner of Emerson Ave and Main Street. This is an outdoor event and will be held rain or shine.

Bring your lawn chair and blankets just in case it does get cold and don’t forget your rain gear.

This event is sponsored by the Hampstead Cable TV Advisory Board. Check out their website by clicking here>>>Meetinghousepark for more information and schedule of events.

Another fun event for the whole family is The Old Fashioned Strawberry festival being held this Saturday June 23rd from 9:00 am to 3:00 pm at the Hampstead Congregational Church on Main Street…they’ll be all sorts of crafts, games, yummy baked goods plus lots of fresh strawberry shortcakes. I can’t wait!!!

The Community Resources Association is hosting a Free Summer Movie series which will also be held at the Meetinghouse Park. The next movie night will be held July 18 and Aug 22 all will be held on the Town Green. Shows start at dusk and don’t forget to bring your chair and everything you need to get comfy as the movie as well as the concerts are all held under the stars. More information is available on their web site by clicking here>>>Movie Nights.

Independence Day Celebration will be held on Saturday June 30 on the Town Green. rain date will be July 1st. This a not to miss annual town event, food, games, carnival booths and of course fire works plus the crowning of Miss Hampstead!

 

 

 

 

 

 

 

Serving Southern New Hampshire and Rockingham County

Jay and Monika McGillicuddy

Prudential Verani Realty

Hampstead NH 603-548-7728

Sandown New Hampshire Hosts an Electronics Recycle Day

Got a dead computer??  Or maybe you have a few of them kicking around your attic?

They are not an easy item to get rid of just like all those old broken down T’V’ s we’ve been collecting for years.

What do you do with them?

Can’t set them out on the curb for the sanitation collectors to pick up and most of the time the local dumps won’t accept them.

I think I have 2 old computers in my attic and more than a few monitors hanging around.
The town of Sandown New Hampshire is hosting a desperately needed Electronic Recycle Day and nicer still is that they’ve opened it up to residents of the following towns Sandown, Chester, Hampstead, Danville, Atkinson, Fremont, and Plaistow.

It will be held ONE DAY ONLY Saturday, June 23, 2007 from 9am-1pm
at the  Sandown Central School at 295 Main Street

A small fee will be charged for more information click here>>> Sandown Town Electronics Recycle Day

Serving Southern New Hampshire and Rockingham CountyJay and Monika McGillicuddy

Prudential Verani Realty

Hampstead NH
603-548-7728

Hot Closings

This was a difficult transaction that after many delays was finally given the clear to close. Because of the delays we had no say in the time or location of the closing. So it was scheduled at an attorneys office and was being fit into his tight schedule to accommodate us. This office was huge, brand new with big shiny furniture and impressive law books lining the walls.

When I arrived with my customers we were put in a big conference room. I took a seat near one end of the huge table and put my pocket book and brief case on the floor.

We made small talk while waiting for the sellers to arrive. It was a beautiful sunny day in New Hampshire and the sun streamed through the huge windows of the conference room bathing everything in a warm glow. It was so comfortable and relaxing that I could have fallen asleep.

When the sellers and listing agent arrived, about 10 minutes late, they joined us in the conference room.

I placed my file on the table and the other agent did the same with hers.

We all sat across the table from each other making awkward small talk while awaiting the arrival of the closing attorney. He was running late we were told…finally he arrived a bit harried and pressed for time.

Of course, it was our fault, he was now very behind schedule…all the delays and then this last minute scheduling. While I was grateful I was annoyed by his cavalier attitude.

I ignored the minor attitude and he started the closing. Soon after I noticed a funny smell. Not sure what it was I kept my mouth shut, a bit unusual for me for sure.

No one else seemed to notice but the smell seemed to get stronger as the attorney moved his huge pile of closing Documents around. Good grief it smelled bad I thought to myself but no one else acted like they smelled anything at all.

I know everyone was nervous but did nerves affect the sense of smell? I didn’t think so. It started to get real bad…I had to say something.
“Whats that smell?” I blurted out.

“New office smell?”� The Co-broke suggested.

“Hmmm” the attorney mumbled as he looked up above his glasses at me. As if I was a nut case.

“Gross“… the buyer said.

Mr. Seller stood up and said “something is burning.”� With that said we all got up, stood and looked at each other not knowing what to do. But we could all smell something.� Finally, I walked over to the book shelves and did a sniff test and the attorney went to get a staff member to help. Now he was really running late and very irritated.

Maybe something died somewhere in here? But it really smelled like something was burning. We were all milling about the room, so nice and new and shiny and expensive…smelling fire but seeing nothing. No smoke…nothing but the smell. As we picked up our stuff, gathered our paperwork and files…the smell started to overwhelm us...it was so strong.

The decision was made to evacuate the building as the smell was just horrible. No matter where we went I could smell it. We went out the front waiting area…the smell was there too! Now we’re all starting to panic.

Everyone was told to leave the building and we all proceeded to walk out the door clutching our important files.

While waiting the arrival of the fire department, we stood and talked about trying to do the closing outside.

Suddenly the wind shifted and we could smell that burning smell outside with us!!!! We walked around in circles the 7 of us trying to figure where the fire was and how come it came outside with us. The attorney was clearly upset.

For some reason the smell was worse near me…a real strong burning smell. Everyone started to look at me and then my buyer shouted “Monika your pocket book is smoking!!” I thought she was kidding…the attorney looked at� me over his glasses again…oh that look!� The Co-broker screamed “your bag is on fire“… I dropped my nice new leather bag that I was clutching under my arm to the ground…it opened and I could see it was smoldering inside!!!All my papers where burned to a crisp, my make-up fried! OMG!!!

Talk about uncomfortable closings…I could not look anyone in eye after that.� So far I’ve never had another closing with that attorney!

My pocket book pretty much ruined in the inside…my pride totally destroyed.

Pocket book…$125.00�

Make up…$250.00�

Memories of this closing…Priceless �

Do I have your attention?

The New Hampshire Association just published their June Market Trends and with special permission we are able to reproduce it here.

Do I Have Your Attention?
-by Peter Francese

First it was 60 Minutes. Now it’s the front page, top of the fold, New York Times (June 8, 2007: “Home Sellers Do Better on Their Own in One City”). How many articles and TV shows is it going to take to convince every REALTOR® that the business of selling real estate is profoundly changing?

The Times article focused on just one college town and essentially made the case that during the red hot market years, 1998 to 2004, extremely well-educated and patient people with flexible job schedules and lots of spare time can use a website to sell their own home.

That’s what passes for news?

“No counter-study, thank you. Just facts.”

What should also not be news to anyone reading this is the rising sentiment that REALTOR® fees are too high. The internet is the most powerful force for disintermediation ever invented. Many formerly very profitable businesses have succumbed to that force. But others, such as stock brokers, have gone on to thrive through more creative marketing and by re-thinking their business model.New Hampshire REALTORS® operate in a real estate marketplace that is more multi-faceted than most and a place that is demographically shifting as well. In a fast-changing and complex market, one survival strategy is to simply be better informed than anyone else. That’s extremely important, but not sufficient, because sooner or later that data will appear on somebody’s website.Perhaps the best strategy for long-term success is a combination of superior marketplace knowledge and a marketing program that continually and credibly reminds customers of the value they receive for the fees they are paying.The fundamental and primary purpose of spending time and money on marketing is establishing value. A critical part is in making sure that your value proposition is credible. United States car makers are in such bad shape in large part because their marketing messages about quality were not in sync with their actual product quality.Successfully competing against FSBO websites is partly about making a list of the valuable benefits a customer will receive when listing with you versus trying to sell their home themselves. Perhaps guaranteeing a higher price for the home should not be on that list. First rule of marketing: Only promise what you can actually deliver.

The New York Times article reported that based on the Madison, Wisconsin economist’s study, home sellers did not get a higher sale price when using an agent. But the article went on to say that homeowners, even in Madison, sold their homes faster when they used a real estate agent and that only two-thirds of the homes listed as FSBO actually sold at all that way, compared to over 80 percent of those listed on MLS.

It should be noted that a careful reading of the Times article (which few readers will do) reveals that the two economists who did the study are talking about it a lot, but it has not been submitted for peer review. In other words, it has not been checked for validity, accuracy or any statistical adjustment bias.

No matter, many readers will accept their basic conclusion as fact. And that leaves REALTORS® with the difficult marketing task of trying not to dispute those findings (a waste of time) but showing how their skill and professional work will actually pay off for the home buyer or seller. No counter-study, thank you. Just facts.

Speaking of facts, we still do not know anywhere near enough about home buyers and sellers in our state. The complex nature of this marketplace (working people, retirees, second home buyers, commuters, etc.) means that future buyers and sellers may have very different needs or desires. A better understanding of the characteristics of each market segment and how to respond to their different needs could become a key element in a New Hampshire REALTOR®’s value proposition.

According to NNEREN, the average value of the roughly 4,500 residences sold in the first five months of this year edged back up over $300,000 (excluding condominiums). But about 440 fewer units were sold, a 9 percent drop. Only Rockingham County saw an increase in unit sales.

But most counties showed relative price stability, with any change being in the low single digits. The exception was Carroll County, which showed a 13 percent drop in average price. By contrast, Belknap County’s average price rose by 13 percent.

On a statewide basis, it took an average of nearly three additional weeks (for a total of 4.5 months) to sell a home in the first five months of this year compared to the same period last year. Despite the Times headline, this does not look like a real estate market where amateurs are likely to do as well as they did in easier times.

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