Christopher L. Arienti's (carienti) Blog

Area market survey for Braintree, MA

Christopher L. Arienti (Keller Williams Realty) — Fri, 01 Apr 2011 11:07:27 -0700

Area Market Survey for Braintree, MA 4/1/11

Price Range

# ofListings

Avg. Dayson Market

$0 - $49,999

$50,000 - $99,999

$100,000 - $149,999

$150,000 - $199,999

$200,000 - $249,999

$250,000 - $299,999

$300,000 - $349,999

$350,000 - $399,999

$400,000 - $449,999

$450,000 - $499,999

$500,000 - $599,999

167

$600,000 - $699,999

$700,000 - $799,999

$800,000 - $899,999

427

$900,000 - $999,999

$1,000,000 - $1,499,999

$1,500,000 - $1,999,999

$2,000,000 - $2,499,999

$2,500,000 - $2,999,999

$3,000,000 - $3,999,999

$4,000,000 - $4,999,999

$5,000,000 - $9,999,999

$10,000,000 - $99,999,999

Total Properties

Avg. 83

Lowest Price: $189,900	Median Price: $353,250
Highest Price: $874,900	Average Price: $380,087
Total Market Volume: $33,447,699

GOP-led House bill to end troubled mortgage program passes

Christopher L. Arienti (Keller Williams Realty) — Fri, 01 Apr 2011 11:03:21 -0700

This was posted in the Boston Globe today by Globe staff... interesting stuff. WASHINGTON — House Republicans pushed through legislation yesterday to terminate an underachieving Obama administration program designed to reduce mortgage payments for homeowners in danger of losing their homes to foreclosure. Tweet 1 person Tweeted thisYahoo! BuzzShareThis Most Democrats, while acknowledging that the Home Affordable Modification Program has fallen short of original goals, protested the vote to kill it. The White House, in a statement, said that if the bill ever reaches President Obama’s desk, his senior advisers would recommend he veto it. The vote was 252 to 170. The GOP-led House this month has voted to kill three other programs aimed at reviving the struggling housing market, including one to aid homeowners who have lost their jobs or become sick and another helping state and local governments buy and revamp abandoned properties. All face veto threats in the unlikely event they clear the Senate. The modification program, enacted two years ago with funds from the Troubled Asset Relief Program, offers incentives to loan servicers to modify loans for people having trouble making payments. But the Treasury Department has no authority to compel banks and loan servicers to participate, and so far the program has modified only about 600,000 loans, well below the 3 million to 4 million anticipated. Representative Patrick McHenry, Republican of North Carolina and the sponsor of the bill, said that a majority of those who enter the program end up being harmed because they use up savings and damage credit ratings during months of waiting, and then are rejected for permanent reduced loans. Representative Barney Frank of Massachusetts, top Democrat on the Finance Committee, denied the program was a burden on taxpayers, saying that any TARP money spent and not returned to taxpayers when it ends in 2013 will be provided by large financial institutions. A Treasury Department official visiting Harvard University yesterday urged Congress not to end the program. Doing that “would immediately relax the pressure on mortgage companies to offer better assistance to struggling homeowners,’’ said Tim Massad, the Treasury’s acting assistant secretary for financial stability and the administrator for TARP, in a speech at Harvard’s Kennedy School. House Republicans also proposed legislation yesterday that would begin reducing the influence of government-run mortgage companies Fannie Mae andFreddie Mac. The measures would wind down the lenders in phases as policy makers work on a broader overhaul of the mortgage market. The proposed legislation would cut the value of the companies’ combined $1.5 trillion loan portfolio, raise the fees they charge to guarantee loans, and reduce executive compensation.

When is it time to buy a home?

Christopher L. Arienti (Keller Williams Realty) — Mon, 28 Mar 2011 07:06:01 -0700

A question I often get in real estate is when is it the best time to buy a home. "Should I buy now, or wait for the spring when the market is better? Should I buy in the summer when people have more time? When do you think interest rates will go up"? All of these questions certainly are excellent ones, and ones that as real estate professionals, we owe it to our clients to answer. And the answer I always give is: right now! Right now is one of the best times in history to buy a home. We have historic lows in interest rates, as well as a huge amounts of inventory on the market. With the arrival of spring, the snow has stopped (dare I say that) and the weather "should" be improving. Right about now is a great time to buy. If your clients are ready, and their finances are sound, then right now is the answer for which you seek. So what are you waiting for? Happy hunting!

dual agency?

Christopher L. Arienti (Keller Williams Realty) — Wed, 16 Mar 2011 11:06:11 -0700

Ok, I have a question for all the agents out there, but first let me give you some background. I was presented the other day with a unique situation where a woman came to one of my open houses, stated to me very clearly that she loved the home and had cash to purchase it, and said she would be back to write an offer. I thought to myself, wow, very cool, the home's first open house and already a cash offer! Pretty good. The woman came back and subsequently asked me to help her write the offer. I asked if she was working with an agent, and she stated no she was not, but wanted me to help her. I told her that I can most certainly help you with the paperwork to write the offer, but I cannot advise you or help you with negotiations because I represented the seller. She then asked me if I could just represent both of them in the capacity of a dual agent. Now, I know you can do this in certain situations with written permission from both the buyer and seller, but I was not comfortable at all with this set up, so I called a colleague and got her represented. My question is... have any of you out there ever been in a similar situation, and what are your overall thoughts on dual representation? Thanks in advance for any feedback you might give. Very much appreciated.

new agents beware!

Christopher L. Arienti (Keller Williams Realty) — Wed, 02 Mar 2011 10:12:14 -0800

On Sunday I received a call from a prospective client asking to see two properties in our area that she was interested in. As we are trained to do, the first question I asked was "Are you under contract with any other real estate agent"? She in turn replied no, and thus, I started the process. So, I met her and her husband yesterday for a two home tour that took about 3 hours total (they really liked them both and spent a whole lot of time on each), and then even connected them to a mortgage broker whom I trust and work with. One of the properties was my colleague's listing, and she got a call today from an agent hoping to put an offer on her property that my prospective clients had seen... the only problem was, I was not the agent who called! You see, despite the fact that the buyers said they were not working with anyone, they really were. They had been working with a "family" friend for a while but did not want to bother her with coming down to our area to show them property, so they lied. Yes, imagine that, the buyer lied. It is possible that I may have some just cause here for a % of the deal if it goes through, even if just for a showing fee and not the commision, but that is not what made me so hot around the collar. I pride myself with being open and honest in all of my business transactions, and I idealistically thought others did the same. This particular situation opened this rookie's eyes a bit, and going forward, I will certainly be more cautious of buyers who are also liars. Shame on me for believing, but shame on them for lying. Lesson learned... and learned well. Best of luck new agents!

Why it is necessary to be nice on the phone!

Christopher L. Arienti (Keller Williams Realty) — Sun, 27 Feb 2011 15:58:05 -0800

A kind recommendation to the listing agents out there: please remember that when your phone rings and you do not recognize the number, it is possible that a fellow colleague from the real estate world is on and wants to show your property! The last time I checked, this was a good thing. The unfortunate truth is that this does not always seem to be the case. Now, I understand that being a rookie in the real estate business, I still have a whole lot to learn and experience, and I would never say anything to the contrary. However, I will tell you that there are no shortage of listing agents out there that answer their phones as if they are being bothered when someone wants to show one of their properties! Maybe I am missing something, but I am pretty sure this is the desired result of putting a home on the market. I too am a listing agent, and anytime the phone rings, I answer it professionally and with a level of care, because you just never know who is on the end of that line. I apologize if this is seems like a departure from my usually quiet blogging nature. However, this has happened one to many times... and honestly, if for no other reason, answering the phone with a level of respect and kindness can really make a difference in someone's day, and even make being a real estate agent a noble and honorable thing. And who knows... it may even lead to a sale... imagine that! Thank you for your time.

The seasons of real estate

Christopher L. Arienti (Keller Williams Realty) — Mon, 14 Feb 2011 04:28:38 -0800

In real estate, we often talk about the seasons of the business. What are the seasons? Well, glad you asked! The seasons are the same as the ones we have known forever. Summer, fall, winter, and spring, and each represents a unique time in the real estate market. For both buyers and sellers, please read and take heed... consider these seasons when developing the strategies you and your agent use to either buy or sell a home. The wonderful spring, March to June - often referred to as the best time to both buy and sell, this is an appreciating market with more buyers and more sellers than any other time of the year. Could be because the weather is getting nice for a change after a long cold winter, or could just be something in the air. Either way, a great time to do both! The hot and lazy summer, July and August - can be nice in certain parts of the country, or can be brutal and the type of weather you never go out in... all depends on where you are living. Usually, what is left over from the spring is still sitting on the market just waiting for the right buyer to come along. This is more of a stabilized market that is neither increasing or decreasing. Buyers are out there, but that weather is hot! And vacations sometimes hinder the process as well. The beautiful fall, September to the first half of November - if you are like me and live in New England, there is not a better time of year. The air is crisp and cool, which is great after a hot humid summer, and the leaves are simply gorgeous with colors you only dream about... yes, it is that good. And, from a real estate prospective, we sometimes see a little bit of a bump in the market because of it. People are out and about again, and looking to buy and sell. Although not as flooded as the springtime market (which can actually be a good thing) the properties are out there, and the buyers are too. Tis the holiday season... and the season of the cold temps, second half November to February - often referred to as a depreciating market, there is typically less buyers and sellers out there. The market is down, and holidays are on everyone's mind, and it is just cold cold cold until spring. I find this to be a tougher time to sell, especially when there are snow mounds 6 feet high blocking your front door, but a pretty good time to buy since there is less competition out there for the same properties. And I do at times advise my clients to put their homes on the market since again, there is less competition out there. You and your agent will need to decide what is best for you and your home. Well, there you have it. Best of luck with whatever business venture you are involved in, and happy hunting!

When one gets busy, one must keep prospecting

Christopher L. Arienti (Keller Williams Realty) — Tue, 01 Feb 2011 15:17:49 -0800

Hey new agents out there, a funny thing happened to me on the way to lead generation... I got busy. Yes, busy. Which is a very good thing; in fact, the best thing if you are a real estate agent. However, just as I was warned by a great fellow colleague of mine in my very first week of working as an agent, when one gets busy, one must not forget what got one there. It is very easy to be working hard for your new clients, whether buys or lists, and forget that once those deals close, you have nothing much to do! The moral of this story is simple: even when busy, it is very important to continue with lead generation and prospecting. It matters less how you do it, so long as you do it. A great way to avoid forgetting about this part of your business is to have blocks of time scheduled each and every day that is dedicated to income producing activities, better known as lead generation. I learned this early on in my training, and yet, even with this knowledge, I found it hard to do both. But... not impossible. And that my friends, is the key term to remember. Not impossible. If it is important, and it is, find a way to get it done! Trust me, you will be thanking yourself for all the hard work after these clients that are keeping you so busy now are enjoying their new home and you still have work. Happy hunting!

Short sale advice for new agents

Christopher L. Arienti (Keller Williams Realty) — Mon, 24 Jan 2011 02:08:23 -0800

Against the advice of some veteran agents in my office, I recently decided to take my first short sale listing in an attempt to learn the process and not be afraid of the words "short sale". Many agents warned me against this, saying that the transaction are too lengthy and confusing, and that I should just stick to "easy" listings as a new agent. Well, "easy" is just not how I do it, and I feel that in order to grow professionally, one needs to come outside their own comfort zone. Plus, with so many sales being "short sales" these days, I wanted to make sure that as a new agent, I get as much experience in as many areas that I can in order to grow my business. I took this listing at the prompting of another one of my colleagues, who said just as much. She encouraged me to learn so I can take future short sale listings with confidence, and follow through while expertly guiding my client. So far, so good... but this is not just by chance. It has taken a whole of lot work on my part to research short sales and what actually happens (hint: it is more than just allowing a bank to approve all offers), and to attend seminars, webinars, as well as several in house trainings. One of the best recommendations I can give the new agents out there is to attain the services of an excellent short sale lawyer, and have him or her meet with your client right away in order to explain the process. It is very important that your clients understand the potential hit on their credit, and how long it might take to recover. Also, what affect will the short sale have on your client's taxes for the year? Will they have to claim the "shorted" money as income, even though they never actually see the cash? Will the bank come after the shorted money anyway, or will the loan be forgiven? What are the laws in my state? All of these questions and more need to be answered, and the answers passed on to the client. It is what they will expect, and what we as great agents should deliver. And even before gaining the services of a great lawyer, work with someone in your office who has handled short sales, and read as much as possible about the process. Despite the negative comments from some of my colleagues, I was able to seek out the support of my mentor who has been outstanding at guiding me throughout. She has worked several short sales in the past, and has been very willing to be available to me for questions, etc. If you are able to, solicit this type of support when you can. Overall, the transaction is running as smooth as one could expect. However, it is taking a team of professionals to make it happen. Above all else, make sure you enter into a short sale listing with the idea that all parties need to be patient, and need to be flexible. Getting the right buyer who is willing to wait it out is very important. To best protect your client's interests, you need to educate the parties involved, as well as be educated yourself. Best of luck! Happy hunting

Small things you can do to get your house ready for selling

Christopher L. Arienti (Keller Williams Realty) — Sat, 08 Jan 2011 07:46:07 -0800

While on a listing appointment recently, I did what any good agent does and began making a few small suggestions regarding ways to increase the likelihood of the sale of the home. However, what came next surprised me to say the least. The home owner had no idea that some of these small suggestions would make such a difference in the sale of their home. I explained how these could help, and they in turn agreed to make the changes. My clients then said that maybe a list of sorts should be created, which I thought was a great idea. So, without further delay, here is a list of the top five easiest ways (in my opinion) to fix up your home before you put it on the market. And all suggestions are cost effective (read: cheap). 1. Paint, paint, paint! It is simple, relatively inexpensive, and makes probably the greatest difference when it comes to the appearance of your home. A fresh coat of paint for the rooms of your home is akin to putting on the nice new outfit you purchased and hitting the town. The difference new paint can make is simply astounding. 2. Check the floors... Old frayed carpets are not only an eye sore, but can actually be dangerous for people walking by, especially if the frayed carpet is on the stairs. Take some scissors and cut loose frayed edges, and spend the money for a good carpet steam. Like painting, a nice fresh carpet stands out and says you care about your home. This can in turn lead to a greater chance of getting the price you want out of the sale. And in the most extreme cases, you may need to replace the carpet all together. But this too can typically be done relatively cheaply. 3. Clean it up! Take a day or two and do a very thorough spring cleaning, even if it is not spring. And make sure to empty trash cans, clean up toothpaste in the bathroom, clean out the sink, etc. 4. Window wash... Often overlooked by the owner, but never missed by the potential buyer, wash those windows so most of the winter grime is off and a customer can see out into that great backyard of yours. Trust me on this one, if the buyer cannot see out to the yard, they will be seeing themselves right out of your house. 5. Remove clutter! I know those pictures on the mantel of your kids and grandparents mean a lot to the members of your family, they do not however, mean a thing to a potential buyer; other than looking like the ever dreaded "clutter"! Some pictures and things around the house are fine for staging purposes, but too much "stuff" is well, too much. Make sure hallways, walkways, and general areas are free from items that may cause the potential buyer to have to navigate around or over, so movement from one room to another is virtually seamless. Making these small changes to an already well put together home might be the difference between selling and not selling, and getting the most money for your home. Obviously, there may be more you need to do, such as landscaping, or major renovations. But, with all else being equal, these small changes can really make the difference. Good luck!

Reflections of the day in the spirit of the season

Christopher L. Arienti (Keller Williams Realty) — Sat, 25 Dec 2010 04:02:28 -0800

I am a recent member here at activerain, and I just wanted to say how impressed I am with the overall professionalism, kindness, and support each of you out there has afforded me thus far. I have already made several posts to my blog, and have tried to impart some of my experiences of being a new agent in the field to other new and old agents alike... and I can honestly say, I have been overwhelmed with the comments I have receieved. From other new agents who have reached out and shared their experiences with me, to the veteran agents who have imparted their own wisdom and guidance, it truly is a community of caring. Breaking into real estate as a career is both exciting and challenging, as you all know. Being a new agent I am thirsty for knowledge and welcome the opportunity to learn, so thank you sincerely, and a very happy holiday season!

Business at the donut shop... really?

Christopher L. Arienti (Keller Williams Realty) — Thu, 16 Dec 2010 06:06:36 -0800

A funny thing happened to me on the way up to get an egg sandwich and a juice at the local Dunkin Donuts... I got some business. I needed to get out of the office for a while, and while thinking of how to prospect a bit and grabbing something to eat, I ran into a person who was actually interviewing me as I stood in line! The man had a daughter who needed a real estate agent to help attain her first place. She had been looking for a while and was having no luck, so she was in the market for some representation. Now, the interesting thing here was, I had no idea the man was looking. Our initial conversation started out very innocuously with talk about the Bruins game the night before. However, as we continued to converse, he let me know his true intentions. When I asked what prompted him to ask me for help, he said he appreciated my candor and my ability to interact with a total stranger. This gave him a level of confidence in my abilities, and at least some insight into me as a person. Plus, the name tag I was wearing did not hurt either, he said. And as a result, I have a meeting time and date to discuss properties with his daughter. The moral of the story here is plain to see; every interaction is a possible job interview, so be aware that those around you are judging, and may just want to hire you! Happy Hunting!

The mortgage interest tax deduction... is it going away?

Christopher L. Arienti (Keller Williams Realty) — Thu, 02 Dec 2010 02:12:09 -0800

Information was released yesterday in an article by Alan J. Heavens, who writes for RISMedia (real estate information systems), regarding our government's latest idea to help reduce the national debt by removing one of the best parts of owning your own home: the income tax home owner's deduction. It is a scaled down version that would eliminate second homes, mortgages over $500,000.00, and home equity lines. These things have been in place for as long as the income tax has been (1913), and have given both businesses and home owners an incentive to get involved. If removed, a change in the way home ownership is viewed is likely to happen. Some general comments from those in the industry are as follow: “For a battered housing industry, which is struggling with a 21 percent unemployment rate among construction workers, this is absolutely the worst time to be considering changes,” said National Association of Home Builders President Bob Jones. Diminishing or ending the deduction “would exert further downward pressure on home prices, leaving more homeowners with mortgages larger than the value of their property and fueling even more foreclosures". Mortgage Bankers Association Chairman Michael D. Berman said that while his group’s members shared in the growing concern about the federal deficit, limiting the use of the mortgage-interest deduction “will have negative repercussions for consumers and home values up and down the housing chain.” Given “the fragile state” of the housing market, Berman said, “now is not the time to be scaling back incentives for homeownership.” The main message here for home owners is to make sure you keep pace with the latest news in regards to the government's efforts to reduce the debt, and determine how all this might effect your livelihood and future finances. Keep educated about what is going on around you, and you will be in a better position to be flexible and deal with whatever comes next. Happy hunting...

Real estate is our business, and business is good!

Christopher L. Arienti (Keller Williams Realty) — Fri, 26 Nov 2010 01:37:19 -0800

I have heard a lot lately about how the market is tough, and that the business just is not there anymore. While it is certainly safe to say that the market is not what it once was, it is with the last comment that I take issue with. As any veteran agent out there knows, it is true, the business is not like it was 5 or 6, or even 10 years ago. That phone during your up time just is not ringing like it used to. However, that does not mean the real estate business is dead, and people no longer need our special brand of services. As a new agent, I did not have the luxury of working in this fantastic industry during the so called "hey day". Agents often about how they used to work their desk time and the phone would ring off the hook with people just dying to sell their homes. Then they continue with how that just does not happen anymore. Finally, they end the conversation and go back to playing solitaire on the computer. Well, if playing solitaire is all you are willing to do each day, then yes, I would imagine the real estate business is in trouble, and there is no money to be had. But I have just one question... how come there are still several of my colleagues who are pulling down six figure salaries despite a "stabilizing" market? What are they doing that many others are not? Here in lies the question. And with this question, I set out to find the answer. Again, being a new agent, I am always looking and willing to learn what works, and determine how I should be modeling my own behavior. Well, what I found out was rather elementary; and there is really no secret. Resoundingly, the answer I received was two fold: first, get out there and network! Make sure to hit up those whom you have worked with in the past, and let them know you are still here to help. Take a friend out to lunch. Find a way to help others with their business, and they will in turn help yours. There is an old adage that states the following: if you give it out in pieces, it will come back to you in loaves. Never was this more true than in business. Be sincere in your intentions, and people will want to work with you. Second, prospect, prospect, prospect! There are many ways to do this. You can make your cold calls, or warm calls, as some would like to say (and it is true). You can give a talk at the local rotary club about small businesses and how to grow them, reminding people of what you do. Or you can start pounding the pavement and invite neighbors to your open houses, or walk a neighborhood where you just got a listing. All of these things can help to generate business, and keep the referrals flowing. Depending on your marketplace, each referral can mean a good amount of money, so it would behoove us all to take heed. After receiving such sage advice from a few veteran agents, I sat down at my desk, scrubbed a bunch of numbers, and began calling. In a two hour time period, I made 86 calls, and got 2 appointments. It is now up to me to convert said appointments to listings, but hey, it is a start! The bottom line here is simple: there is business to be had! And many of you out there are doing it, and doing it well. But some of us are not. If you are one of these people, take a good hard look at what you are doing everyday that you get to your office, realize you are great at what you do, and get going! If I can do it, heck, anybody can! Happy hunting everyone!

Condo buying? Some questions you should ask.

Christopher L. Arienti (Keller Williams Realty) — Wed, 24 Nov 2010 04:05:37 -0800

My last client asked me very kindly, why are there so many additional things we have to ask for before submitting an offer to buy the condominium that I love? I answered equally as kind, and I quote, "there are factors that are involved in the purchasing of a condominium that are not always present when buying a single family home". This led to further discussion regarding the ins and outs of condo buying, culminating in a really great list of questions to ask, or at least find out about, before you submit your offer. Here is the list: 1. Make sure to review the condo docs! This might be one of the most basic, but most important of them all. And any lawyer worth what they are charging will make this mandatory anyway. This will ensure you understand the rules and regulations of the condo complex. 2. Ask for a copy of the association minutes... for the last two years! This will enable you as the consumer to really understand what is happening in the complex you are interested in. 3. Tour the property, and spend some time. Ask the neighbors what they think of the association and those who live there. This can provide invaluable information that you will never get from any document. 4. Find out how many of the condos in the complex are "rentals only", and how many possibly will be in the future. Condominium complex managers will often "fill" the unsold condos with rentals. Something to consider as the consumer. 5. What about pets? Most condominium documents will list whether pets are allowed or not; but find out if there are any restrictions regarding both the type and the number of pets occupants may have. This could save you a whole lot of trouble later on if you know going in that if you do purchase the condo, Fido has to live elsewhere. 6. Can you sublet or rent if necessary? Again, the documents you receive should cover this, but they may not. Ask, and you should be given an answer. I hope this list helps some of you out there if you are thinking about purchasing your first condominium. As with any property purchase, excitment is a big part of the process. However, some really small details taken care of in the beginning can save a whole host of problems later. Happy hunting!