Archive for the 'general business' category

Why do you do what you do?  What motivates you?  Do you have someone or something in your life that, when things become challenging, you can look at and get that extra push to keep going?  Or conversely, when big things are happening and life goes from good to great to amazing, do you have someone or something that you can look to and smile, knowing that there's a reason beyond you that you're doing it for?

Real estate can be a crazy business sometimes.  In a career that has spanned 17 years now, I've been in the outhouse, the penthouse, and everywhere in between.  I've had fantastic successes and crushing defeats, sometimes within days of each other.  Through it all, I've learned to lean on things outside myself to keep going.  If I were simply motivated by money or recognition, I would've never made it.  It wouldn't be worth it to me.

Instead, I have a "Why".  A "Why I Do What I Do":

As you go through today, and the beautiful weekend ahead... take time to consider your own "Why".

The official press release:

Chris Cassidy joined our statewide team. 

Chris comes to us from RE/MAX Results in Medford and brings 17 years of real estate experience to Andrew Mitchell & Company. He is a full-service Realtor north of Boston in both Middlesex and Essex counties.

A Certified Buyer's Representative (CBR), he is well-versed in buyer agency in Massachusetts with strong negotiation skills, saving buyers significant amounts of money. Though he specializes in helping first-time homebuyers, he is also knowledgeable with a wide range of homebuyers for many different property types. Chris also guides sellers to market their homes for the largest sale price with the smallest amount of hassle.

Chris also has a strong sense of family and prides himself on community involvement, which adds to his strong passion for real estate. He looks forward to leveraging Andrew Mitchell's online business platform to better and more efficiently serve his clients while freeing up more time to spend with his wife and three children. 

www.andrewmitchellco.com

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I've been a full-time REALTOR® since 1995, and affiliated with the RE/MAX system since 1997.  I've enjoyed my time there, and treasure the many friendships and memories I've made.  But there comes a time in every man's life when they need to move on and explore new opportunities.  I'm extremely excited to be working with my new office.  Andrew Mitchell & Company is a very progressive company, with a great business platform that will allow me to utilize the absolute latest tools and technologies to help my ever-growing client base.  I'm looking forward to helping this company to grow their market share, as well as to give my clients an even greater level of customer service.

If you've been on the fence about buying a home, here's some news to consider.

The National Association of REALTORS® has just reported the news that the Federal Housing Authority (FHA) is set to increase fees on FHA loans significantly, effective April 1st.  From the article:

The agency is raising its fees in an effort to try to recoup some of its depleted reserves*, which suffered from the rising number of home owners who defaulted on their mortgages. The agency also says it’s raising fees to try to encourage the return of more private capital to the market. 

FHA loans allow for smaller down payments, as low as 3.5 percent compared to traditional loans, and they often have less stringent credit requirements, which have made them soar in popularity in recent years. (The agency insures loans but doesn’t issue them.) About 40 percent of all new mortgages for home purchases in 2010 were FHA-backed mortgages. 

In particular, FHA will increase two fees that borrowers pay. Starting April 1, it will increase its annual mortgage insurance premium for loans under $625,500,  bringing the total cost from 1.15 percent of the loan amount to 1.25 percent. Starting June 1, larger loan premiums will see an increase of 0.35 percent of a percentage point, bringing the total premium costs up to 1.5 percent of the loan amount, The New York Times reports. 

FHA also announced it will raise a fee for the upfront mortgage premium by 0.75 of a percentage point, which will now total 1.75 percent of the loan amount.

So what does this mean for a typical borrower?  According to The New York Times:

... a borrower with a 3.5 percent down payment with a mortgage of $193,000 can expect to pay an upfront mortgage premium alone of $3,377, compared to the prior $1,930. That can be rolled into the mortgage.

From the example, it's plain to see that these rate hikes will have an impact on how much home you can afford.  But if you secure a mortgage before April 1st, you can avoid these new fees (and save yourself some money).

In addition, these rate hikes will also apply to anyone with a current FHA loan who refinances.  So if you've been considering refinancing, now would also be a good time, before these rate increases go into effect.

Remember, you can search all MA homes for sale right here from my site.  Registration is free, and you are never obligated to buy a home.  And of course, you can take advantage of my Exclusive Buyer Guarantee and save AT LEAST $10,000 on any home you purchase through me.

As 2011 draws to a close, I want to wish my friends, family, and real estate clients a very happy and prosperous New Year.  For me, 2011 was a transformative year, a year of changes to many aspects of my business and how I will do business going into 2012.  Our total sales were up, and we are carrying some nice property listings into the new year, and picking up three new ones in January (so far).

Of course, on a personal level, the birth of our third child (on July 4th no less!) was the high water mark of 2011.  Adam Robert has brought much joy to our family, and of course to his older siblings, Faith Gloria and James Christopher.  My wife Jenn and I head into 2012 excited about what the new year will bring for our little family.

As 2012 begins, I look forward to helping you with your real estate needs.  Look around, you will find some good resources to help you, whether buying a home in MA or selling a home in MA.  Here are a few links to get you started:

FREE Resources For MA Home Buyers

FREE Resources For MA Home Sellers

BUYERS - Save AT LEAST $10,000 On Your Home Purchase

We'll also be rolling out an exciting new marketing tool in mid-January for our buyer clients and seller clients, something I'm very excited about.

The new year promises to be an exciting one, a very important election only being one highlight, but whatever else happens, one thing is sure:  real estate buyers will still need to buy homes, and real estate sellers will still need to sell homes.  And we'll be here to help as many people as we can to achieve their real estate dreams.

So, my sincere best wishes for a Happy and Prosperous New Year to you and yours, and I look forward to helping you with your real estate needs in 2012.

If you're a home buyer in MA, you should definitely enlist the services of a Buyer Agent to help you find your home.  Over the last several years, Buyer Agency has exploded in MA.  I've written about the basics of why it is important to use a Buyer Agent HERE.

However, it is important to note that not every agent who practices Buyer Agency in MA has been properly trained to do so.  In fact, most haven't.  So how do you, the consumer, ensure that you are hiring a professional that knows what he or she is doing?

Happily, there is an answer.  You can enlist the services of a Certified Buyer Representative, or CBR.  From the CBR WEBSITE:

Why Should I Be Sure My Buyer Agent Is A Certified Buyer Representative?

A recent survey completed by the National Association of Realtors shows that over 40% of the buyers are now represented in the real estate transaction. In some states, the figure is over 80%. Considering the rapid growth of buyer agency, it is imperative that a buyer find an agent who has been trained to professionally represent them in the transaction.

That, specifically, is the reason the certification mark CBR® Certified Buyer Representative was created. Issued in 1993 by the US Patent and Trademark Office, this mark allows consumers to identify a buyer agent who has been trained and who possesses the skills necessary to represent purchasers in a legal, ethical, and non-adversarial fashion.

Those agents who have acquired this designation have demonstrated their commitment to full client level service to the buyer. They are armed with forms, checklists, and disclosure documents to perform a level of diligence in the real estate transaction that is unparalleled in the industry.

When deciding on an agent to represent you, ask about their credentials and training. Many real estate agents attempt to practice buyer agency without acquiring the skills necessary to perform professional representation. The CBR designation assures you that the agent you hire has been trained and will perform to the level of the competent professional, working in your best interest to meet your personal needs in your next real estate transaction.

I am happy to say that I attained the CBR designation years ago, and have helped many home buyers since that time to find their perfect home.  Nationwide, less than 1% of all REALTORs have achieved this designation, so it's a pretty elite group that I am proud to be a part of. 

So please make sure you do your homework before hiring an agent to help you find a home in MA, and hire a CBR.  You'll be very happy you did.