Who's Opinion is Correct? Shirtgate?

Opinions? Who's correct?

I love these times, depending on who you talk to, the market is either wonderful or terrible. As I've said in earlier posts, the continuous give and take around whether the market is good or bad just accentuates the old adage that all real estate is local.

As many of you know, I have referred to Globe articles in the past. And as we talk at Open Houses and over drinks, the conversation inevitably comes back to the same questions.

Well, over the weekend, this being April, once again the Globe has put together the Ying and the Yang of the current market.

In one series of articles they discuss the reasons for selling and buying in todays market conditions. Of course there are sound arguments on both sides of the topic.

In another article, and this one truly puts a point on the notion that the market is local, the Globe publishes a table that shows the 10 hottest markets in the local area.

Watertown topping this list is exciting for us here in the Watertown area. We've been telling folks that Watertown is staying strong, and some of that strength is the new developments over off of Pleasant St, however properties in Watertown are still finding buyers. Even in this "tough market."

If you didn't get a chance to read the articles, here's the link at the Globe: http://www.boston.com/realestate/bigmove/

Shirtgate?

On another note - It never ceases to amaze me how the fans of our Olde Town Team and those of the Evil Empire can continue to find ways to increase the rivalry and ultimately bring the animosity between our two cities to a new level.

The curse of the buried shirt is a media bonanza for the new Yankee Stadium, the building isn't even complete yet and there is already a tale that will be told for generations to come.

I can't wait to see if this pans out as as true story or as a publicity stunt engineered by the Stienbrenners and the management of the team.

BTW - It seemed like it took forever, and I did go to sleep before the game ended, but it's nice to see that the Sox were triumphant last nite.

Have a great spring week,

Go Sox!

- Geof

Another Perspective on the Market

The Warren Group is recognized by many as a leading real estate research firm.

Willard Warren, from the Warren group, answers questions about Massachusetts' market for Boston Globe reporter Kimberly Blanton.

http://www.boston.com/realestate/news/articles/2008/03/30/will_home_market_blossom_in_spring_a_cold_hard_look/

It makes for an interesting read and compares the market today with the last real downturn back in the 1990's.

Tomorrow is the "road opener" for the Olde Town Team and I for one am excited to see Dice-K throw.

Go Sox!

- Geof

Blip or Turn Around?

I just had to do it. I know I will (may) be accused for seeing the glass as half-full but I can't resist it when I come across news that says something about the real estate market picking up.

It turns out that existing home sales in February showed a slight up-tick says NAR, and USA Today picked the story up. In short it says that contrary to the analysts predictions and expectations the number of properties sold went up in February.

The complete article is here: http://www.usatoday.com/money/economy/housing/2008-03-24-home-sales-february_N.htm

It's not all good news though, the average price still was headed down vs. a year ago.

Tomorrow morning is Opening Day at the Tokyo Dome. It will seem weird, but I plan on being in front of the tv with my peanuts and orange juice to watch the first pitch.

Go Sox!

- Geof

Interesting Web Sites

We all have them, someone who sends us jokes and other "non-work-related" emails. In my case it's my father-in-law. I enjoy most of them and it's nice that he takes the time to think of me as often as he does.

Anyway, this morning I got an email from him about a website that I thought might be of interest to you all. It is a site that will display demographics based on zipcode.

You go to the site and type in a zipcode. The site then puts together some demographic data about the zipcode and displays it for you.

Give it a try!

http://zipskinny.com/

Also, a brief word about the "validity" of the site might be appropriate at this juncture. If you read the "About ZIPskinny" you will discover that the site was based on 2000 Census data and there also might be some issues with sample size. Browse the About ZIPskinny tab to read the developers message. And as always Caveat Emptor - and remember the credo of all web-denizens, "If it's on the web IT MUST BE TRUE!"


Go Sox!

- Geof

Two Great Condos in Watertown

If you are looking for:

A one-bedroom condo with an open floorplan, parking, a large yard and new kitchen, look no farther than my listing at 37 Melendy Ave., Unit 1 in Watertown. Oh yeah, did I mention that there is also public transportation at the top of the street. And shops, restaurants, taverns and conveniences abound?

or

Three Bedroom, two bath with in-unit laundry, private entrance, parking, new kitchen, private deck and balcony? It also benefits from the location.

Check them out at: http://37melendy.com

Go Sox!

6 Rules for Surviving a Soft Market

Today's Boston Sunday Globe Magazine included an article with the title "6 Rules For Surviving a Soft Market". The article lays out cleanly and succinctly some guidelines for both Sellers and Buyers to help them relax in today's real estate market.

Of course, I look at these articles with keen interest to see if there are any pearls of wisdom to glean especially with the conversations that I find myself in on a daily basis. Almost everyone I see asks me, often without saying "Hello" first, "How's the market?"

What I see in the article is the type of advice I tend to give when asked by buyers and sellers. Here's a link to the story if you didn't happen to see it today.

http://www.boston.com/realestate/gallery/0316six_rules/

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Congrats to Daisuke and his Wife on the birth of their second child.
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Go Sox!

A Couple of Newsworthy Items - Capital Gains and Mortgage Guidelines

It seems that every conversation about buying or selling Real Estate naturally comes around to a discussion of finances. Over the last few months there have been a couple of changes, they aren't directly related, but both will more than likely be considered good news depending on your situation. Of course, I'm not a financial advisor so please check with your own advisor to see if either of these changes are appropriate to your situation.

Capital Gains - or - "Wait A Year...."

In a nutshell, the US Congress has finally come around to change a law that was needlessly penalizing folks. As many know, the common advice when a spouse passes away is to "Wait for a year before you make any big decisions." More often than not, these "big decisions" include whether or not to sell a home.

In the past, if you waited too long, your eligibility to avoid some of the Capital Gains Tax often expired during this year of mourning.

Well, the US Congress has changed the law. You can learn more about it at: http://realtytimes.com/rtpages/20071228_washingtonreport.htm


New Mortgage Guidelines

There are new guidelines from the government loan agencies (Freddie Mac and Fanny Mae) regarding loans written in our region. They have raised the cap amounts and also changed some of the funding guidelines. To read more about this go to:

http://www.boston.com/business/articles/2008/03/07/limits_lifted_on_us_backed_mortgages/

Thanks for stopping by.....

Go Sox!

- Geof