Do you suffer from Offer Fatigue?

Google Offer Fatigue and I bet it doesn’t come up.  The reason is, it’s a new term and I have recently adopted it.  I cannot take credit for it’s origin.  I think it was a real estate agent that said it to me a few years ago.  You still don’t hear much of the term Offer Fatigue, but let me tell you, it’s real.  And I want to help people overcome it.

So, what is Offer Fatigue and what are the symptoms you ask?  Well it’s submitting one offer after another on a house or condo, only to have them all rejected.  This occurs over weeks, months and even years.  It comes with low-ball offers, over-list offers, closing cost credits and offers to the seller they can live in their home for months for free as they look for a house. Finally, it comes with the prognosis that no offer is going to stick, and I might as well get out of the home buying search.  Today I am here to offer you a new perspective, it’s not you….it’s your team!

Home buying is a team event.  You can’t rely on one person in today’s market.  You have to have a team of professionals there to help you every step of the way.   A team is not only a real estate agent, but a real estate attorney (notice how I didn’t say any attorney, but a real estate attorney…must be an attorney who is real estate centric) and of course, a mortgage banker like myself.  The reason is, the team can help the seller answer all their questions and concerns about a buyer.  The team provides all the resources it can to help the buyer, and seller get the deal done.  The team is there when you need them.  The team knows the answers and will convey them correctly.

Here’s a couple examples how a team can work.  On the North Shore and Boston, there are a few tricky things to look out for that could hurt someone’s preapproval and buying power.  In Boston, it’s common for a condo to be listed for sale on MLS with a resident exemption tax rate instead of the full tax rate.  If you live in a property you own in Boston, you get up to a $2700 a year exemption in your tax bill.  That is over $200 a month.  If a home buyer’s preapproval is tight, $200/month could result in a denial on the loan.  If it’s not caught until after the offer accepted, a home inspection and appraisal is ordered, the buyer is out $100’s if not $1000’s of dollars.  That’s in addition to the time and anxiety of the process.  Money, time and energy wasted by all parties.

West Gloucester has sewer projects deferred billing added every other quarter to the tax bill.  So, we must look at the full year taxes and not the quarterly taxes.  Lots of Cape Ann’s roads are private and require a private road agreement.  However, in Gloucester, these private road agreements rarely exist.   I know how to get around it, and a good local team would know too.

If you think you are suffering from Offer Fatigue, you need to get in touch with me asap.  I will review your preapproval for free, and then connect you to one of the great real estate agents here at capeannhome.com.  From there we will create your dream home buying team.

Don’t go into the last parts of the spring buying market suffering Offer Fatigue, get energized by The Pratt Mortgage Team at CrossCountry Mortgage and its teammates!

Pratt SignPratt Team FB

Advice and a free Waterfront Guide

But first, you need to find the right house or condo. So, if you’re curious about which Gloucester and Rockport properties are for sale, this is a real easy way to find out. In the Cape Ann Waterfront Guide, you’ll receive up-to-the-minute information on pricing, size, bedrooms and “the remarks”, all via email.

Click the link and tell us where to email your free report.

Kenny MacCarthy I Bob and Sue McDermott I Gibson Sotheby’s International Realty

Video: Shot in Kenny’s car with a stunt double 🙂

OPEN HOUSE SUNDAY, 5/5/19 2:00-3:30PM 5 STANWOOD POINT, UNIT B

Waterfront, New Construction, LOW Condo fees and NO FLOOD INSURANCE. What more can I say! Definitely a must see and a great New Price! Come with or send your buyers to see this fabulous development on the Annisquam River.

OPEN HOUSE IS AT 5 STANWOOD POINT, UNIT B. COME AND GRAB INFORMATION FOR 4 STANWOOD POINT AND WALK THE LOT SO YOU CAN SEE WHERE YOUR NEW TOWNHOUSE WILL BE BUILT.

5 STANWOOD POINT, UNIT B $849,900 COMPLETE. MOVE IN READY!  3 BEDROOM, 3.5 BATH TOWNHOUSE – GORGEOUS RIVER VIEWS FROM ALL ANGLES. 3 FINISHED LEVELS OF LIVING SPACE.

4 STANWOOD POINT $769,000 – TO BE BUILT, 2 BEDROOM, 2.5 BATH TOWNHOUSES

Salem News Online Ad

Free Glou/Rkpt Waterfront Guide

sleigh ride

If you’re curious about which Gloucester and Rockport homes and condos are for sale, this is an easy way to find out. In the Cape Ann Waterfront Guide, you’ll receive up-to-the-minute information on pricing, size, bedrooms and “the remarks”, all via email.

Click the photo and tell us where to email your free report.

Kenny MacCarthy I Bob and Sue McDermott I Gibson Sotheby’s International Realty

Photo: Coming Through The Cut, Gloucester MA

NEW PRICE $849,900 OPEN HOUSE SUNDAY 4/28 1:00-3:00PM 5 STANWOOD PT., GLOUCESTER, UNIT B

ALSO, COME AND GRAB INFORMATION ON 4 STANWOOD POINT. TWO NEW BEAUTIFUL TOWNHOUSES TO BE BUILT ON THIS LOT. COME MAKE IT YOURS. PREVIEW PICS AND FLOOR PLANS ADDED HERE. NEW PRICE….. 5 STANWOOD PT. $849,900

4 STANWOOD PT. $769,000. – New Construction. To be Built!

 

Salem News Online Ad

Where’s the affordable housing?

Six.  That’s the amount of single family homes for sale in Gloucester under $500k as I write this post.  There are 61 single family homes for sale in Gloucester in total.  So that means 55 of the remaining homes for sale in Gloucester are listed at over a half a million dollars.  MLS shows the average list price of homes for sale in Gloucester currently at $1.389mil…that’s not very affordable.

The good news is that you don’t have to spend close to $1.5mil to buy a home in Gloucester.  It just means there is a shortage of homes for sale that are considered affordable.  The majority of the current homes for sale are on the water, marshes and beaches of Gloucester….some absolutely beautiful homes.   This is common with the spring market, as buyers would want to be in Gloucester for the summer.  This is prime second home buying season.  We are six or so weeks before Memorial Day, which is the typical length of a home-buying transaction.

There are more affordable homes for sale outside of Gloucester and Cape Ann, and that’s where things seem to be busiest as well.  People are moving further north to the border towns of Mass, and crossing the boarder into New Hampshire.  There are just more homes to buy that people can afford.

If you want to know what you can afford, and the towns that have the best affordable housing options, please contact me directly.  I am licensed as a mortgage banker in both Mass and NH, with offices in both downtown Gloucester and Danvers.  I can help you identify the best ways to get your offers accepted, connect you with great real estate agents (like the agents who are on CapeAnnHome.Wordpress.com) and find you a home you can afford!  Don’t wait for mortgage rates and home prices to increase more.

Brandon Pratt

NMLS 46922

brandon.pratt@myccmortgage.com

Pratt Sign

 

Stair Building 101 Workshop

Depositphotos_91435208_xl-2015.jpgJoin us for a workshop led by Fine Home Building ambassador Aaron Butt. We will start the day in the classroom learning how to calculate the rise and run of a stringer, and then move outside to put your knowledge to practice. Butt has taught at the North Bennet Street and is now a lead carpenter at Carpenter & MacNeille. He is a passionate carpenter and teacher. This workshop is designed to teach you how to build a basic set of stairs. Space is limited. To learn more or reserve your spot please email monica@grandbanksbp.com.

Learn More: https://www.grandbanksbp.com/products/stair-building-workshop-101

Building Home

 

medallion cabinetry kitchen vineyard maple finish

 

Creating a home always becomes something different once you start. You never end up where you thought you would. And often that’s for the best. A home can often feel like a far away dream, something that couldn’t really exist. Home is ever evolving.

These homeowners never thought they were going to be people that would build a house, but they did it. And now 30 years later, they are re-investing in their home by remodeling their kitchen. It’s a big deal, and an intense process. But in the end, it’s an investment in both the resale value of your home and your happiness. How is that not worth it?

Keep Reading: https://www.grandbanksbp.com/blogs/blog/building-home