The Tully Team Blog

130 properties sold in Charlton during the last calendar year. Do you know how that compares to the year prior? Does anyone really care? We should all care of course; because the value of our property in the here and now is tied to it to a great extent. The truth of the matter is; the numbers only differ from the year prior by 5 total properties. Why is there such a prevailing assumption that Real Estate is not doing so well and may not be such a good investment right now? Why is it that it can be said that almost universally everyone we talk to thinks that Real Estate is an investment vehicle to avoid at the moment? The answer lies in the negative spin that so many media sources have focused on. Couple that idea with the overwhelming number of media outlets in todays internet age and you can get some idea of the magnitude of the reporting problem. Never in history has there been so much information available to us with such relative ease. As always has been the case; much of what we read is not factual; or at the very least not complete. The reality is that houses that are priced correctly do eventually sell even if they do sometimes take a little longer to do so. Have prices for houses come down? They have fallen as an average in most markets. There are some markets where the average price has risen however. Do you know what is happening in YOUR neighborhood? Do houses take longer to sell in most of todays market than they did in the period of two to three years ago? They absolutely do. Remember though that when you make a comparison to the period of two to three years ago you are comparing to a period that saw unprecedented gains in value or appreciation take place. As has proven true with every period in history, real estate and home ownership continues to be an investment that will rise over time to bring to the most people the highest rate of return for any investment they will ever make. I would love to talk about you more about this in future articles. Or; better yet; give me a call or drop me an Email. I would love to hear what you think.

If you are a FSBO. Meaning; if you are selling your home by yourself (unrepresented), perhaps it’s good to know a lot of people who could by it from you. This is primarily true because as the latest figures from the Massachusetts of Realtors 2007 Profile of Buyers and Sellers suggests; this is largely where the buyers of FSBO properties come from. It is in fact by far and away the number one source of buyers for the FSBO seller. FSBO sellers know the buyer more times than not. The report also indicates that if the sale doesn’t occur within the first couple of weeks on the market, then the buyer will most likely not come from somebody the seller knows. This is where a Real Estate Agent (most likely a Realtor) usually comes in to remove the burden of Selling from the unrepresented Seller. If your potential client (FSBO) does not know a lot of people, then it becomes even more apparent that they will need your services. Sometimes the laws of economics have already convinced a seller early on that they cannot possibly achieve the highest monetary value for their property without first exposing it to the maximum amount of buyers in the buyer pool. If they have not gotten this idea within the first couple of weeks, it is most likely because they have a blind spot in their vision and understanding of simple statistics. Before you give up on them; remind yourself that you might do the same thing if you did not know the truth. Let’s face it; who wouldn’t like to believe we could just put up a sign and the whole world would beat a path to our door. I know I once secretly hoped this is the way it worked. Stay with it…sometimes education (including our own) happens slowly.

Because spring comes so early this year, ( most people alive today have never seen it be this early) you might want to think of getting your home ready to sell earlier as well. We all know how once the thaw starts to take effect, the pent-up desire to get out and look at property can be fast and furious and you won’t want to be caught unaware. Have you talked to a Realtor lately about what it might take for you to be on the forefront of this expected activity? Please get in touch and I can tell you what the savvy sellers are doing.

Isn’t it exciting to know that spring comes early this year? Yes folks; spring begins one month from now. Are you ready for all the warmth that it can bring? I know I am! This winter was a bit harsher than last year and as I get older it seems to resonate deeper into my bones when its cold. However: right around the corner are barbeques, lemonade on the front porch, and the stars of the summer triangle! If you are thinking of selling property this year; have you prepared it for those buyers crawling out of their cabins who will certainly be visiting at the first sign that winter is over? Please get in touch for a free no obligation report on “How to get your house ready for the market”, “The ten things sellers do that sabotage a sale” and until then……stay warm!

Does anyone find it a little bit more than interesting that housing data is thrown about without much reference to the exact source lately? Where is all this information being generated? How can it benefit me as a homeowner if the information given to me is of a global, entire USA, or even my own State statistic? Doesn’t it matter anymore that all Real Estate Values are as local as all Politics? What good is this information if it doesn’t account for the unique make-up of the neighborhood I live in? Doesn’t the most important aspect of the value of Real Estate still lie in Location Location Location?

Welcome to Jim Tully’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in Worcester. Check back often as content will be constantly changing.