Newton MA and Neighbors

The internet will not doom Real estate agents to extinction

Wed, 02 Nov 2011 03:51:55 -0700

The internet will not doom Real estate agents to extinction like travel agents* because there are fundamental differences between the two businesses.

Travel agents	Real estate agents
Sell a product that is produced by a few different suppliers (airlines) who are in competition.	Sell a product that is “produced” by many different suppliers, who are not in direct competition. Every homeowner is a supplier.
The airlines can create, change, set prices, or eliminate the product (an airline flight) at will.	Real estate cannot be created, changed, have its price set by the supplier, or eliminated at will.
Airline flights are, for the most part, fungible – that is uniform enough to be freely substituted.	Real estate is unique.
The customer pays for the product with his or her own money.	The real estate buyer rarely pays with his or her own money, the vast majority of buyers need a loan. Lenders are additional stakeholders in transactions.
Travel transactions are discretionary.	Not all real estate transactions are voluntary.
Airline flights are purchased without prior inspection.	Real estate is almost never purchased without prior inspection.
The price, terms, timing, and conditions of sale of airline flights is not negotiable.	The price, terms, timing, and conditions of sale of real estate is fully negotiable.
Travel agents utilize a database of products (flights) created by the suppliers (airlines) as the foundation of their services.	Real estate agents utilize a database of products (houses) created by themselves (through broker member multiple listing services).

Both the travel agent’s and real estate agent’s databases are now available to the public. Consumers in both markets can search for the product they want. The primary, and essential, difference is that travel customers searching the online databases can actually click to purchase the airline flights online. There are too many areas where a buyer needs skilled assistance, such as viewing and inspecting homes, negotiating the price and terms of sale, and most importantly coordinating the transaction with lenders, appraisers, inspectors, and others for online real estate buyers to simply click to buy a house. But, if it were ever possible for an online real estate buyer to simply click to purchase a house, then real estate agent might become extinct too. *Actually, travel agents are not extinct, but their business has been greatly diminished. The ability of travelers to directly purchase flights online, and airlines stopping paying commissions on flights eliminated the vast majority of travel agents. There are still travel agents, but they provide niche services, such as putting together tour packages and otherwise add value beyond just connecting a traveler to an airline flight, hotel or rental car.

"Oh my God, an honest real estate agent."

Wed, 02 Nov 2011 03:46:14 -0700

Recently Melissa was working an open house, and was talking with people who stopped by. One couple was going over the listing brochure and they were asking questions about it. Melissa was explaining what the various items on it meant. She explained that there were two numbers on it that they needed to look at as they looked at homes to buy. The first was the listing price, and the second was the assessed value. She explained that the assessed value was set by the city last December. She told them that they had to ask themselves, and the sellers, why the listing price was so much higher than the assessed value. She explained there often are real reasons why the listing price may be much higher than the assessed value, such as increasing market prices (not really the case here), or the seller may have made improvements that were not reflected in the assessment. Their response was, "oh my God, an honest real estate agent." It is a sad commentary on our industry that their expectation was that real estate agents were going to lie to them. Melville Capps

Homeowners not the only victims of foreclosure crisis

Wed, 02 Nov 2011 03:41:25 -0700

Homeowners are not the only victims of the foreclosure crisis. I have a friend and former law client in California who owns a flood dry-out and mold restoration company. His company has been thriving for years until the foreclosure crisis hit. The way the flood dry-out business works is the homeowner calls a flood company's ad and hires the company to come save them. The flood company shows up day or night, and starts drying the premises in order to mitigate the damage. The dry-out and remediation process will usually take several days to complete. The homeowner signs a contract to pay for the work, and assigns any insurance payment to the flood company. The homeowner then makes a claim with their homeowner's insurance. Most insurance companies will only issue a check to the homeowner, and then the homeowner pays the flood company. Before the foreclosure crisis very few homeowners would receive a check from their insurance company but not pay the flood company. Also, there was a very effective tool to help the flood company collect, which was a mechanics lien. A mechanic's lien is a lien against real property for the value of materials and services put into the property. Most slow-to-pay homeowners would pay their bill after getting a letter from me explaining that the flood company was going to put a lien on their property. The few who still didn't pay then had a mechanic's lien placed against their property. Almost all of the homeowners paid after the mechanic’s lien was placed against their property, because there is an expedited legal process available to foreclose and sell the property to pay the lien. We never had to actually foreclose. A few cases were dealt with in small claims court by the company, and in only a couple did I actually have to file a lawsuit. Then the foreclosure crisis hit, and everything changed. When banks owned a property, they would not bother hiring a flood company if the property flooded, so the volume of flood dry-out business dropped off significantly. The next effect was even more devastating. Homeowners who knew they were going to lose their homes to foreclosure were immune to the threat of a mechanic's lien. They just didn't care. Virtually all of the homeowners in this situation took the insurance check and didn't pay the flood company. As a result of these losses my friend's flood company had to lay off all but one employee, and sold all of his equipment except for one truck. Now, his company will only do work for the very few insurance companies that will pay the flood company direct, or will insist that homeowners pay in advance. This doesn't leave much business for my friend’s company. The effects of the foreclosure crisis extend well beyond the damage to homeowners. Melville Capps

Newton, MA multi-family residence market report October 2011 – Absorption Rate

Mon, 31 Oct 2011 16:19:47 -0700

Newton, MA multi-family residence market report October 2011 – Absorption Rate On October 31st there were 34 multi-family residences listed for sale in Newton, MA according to the multiple listing service data (MLSPIN). Absorption rate is a calculation of how many months of housing inventory are on the market based on historical rates of sale per month and the current housing inventory. What this tells us is how long it would take to sell all of the houses currently on the market if no new houses came on the market. This is useful as an indicator of the state of the market, and it constantly changes as new homes are listed and existing inventory is sold.A Seller’s market is considered to be 1 to 4 months supply of housingA Neutral market is considered to be 5 to 6 months supply of housingA Buyer’s market is considered to be 7 or more months supply of housing Let's look at the chart. There has been very little change in the market during October. Six units entered the market. There have been three sales, and two units are under agreement - pending sale, so the market is essentially the same as it was in September. From the chart we can see that the majority of multi-family residences in Newton MA are priced from the $400,000s through the $700,000s. The absorption rate shows that the market is slightly towards a buyer's market for the mid-range properties. Some of these mid-range multi-family residences are greatly overpriced, and will not sell, and will likely get few, if any, offers. A few of them are in the right price range, but not for the condition they are in. These will sell if the sellers are willing to adjust their price to meet offers. In summary, although multi-family residences are about a quarter of the total housing in Newton MA, they are less than ten percent of the current real estate market. They are mostly owned by investors, and do not reach the market as often as single-family residences or condos, so buy them when they are available.

Newton, MA multi-family residence market report September 2011 – Absorption Rate

Sat, 08 Oct 2011 15:38:03 -0700

Newton, MA multi-family residence market report September 2011 – Absorption RateOn October 3rd there were 34 multi-family residences listed for sale in Newton, MA according to the multiple listing service data (MLSPIN). Absorption rate is a calculation of how many months of housing inventory are on the market based on historical rates of sale per month and the current housing inventory. What this tells us is how long it would take to sell all of the houses currently on the market if no new houses came on the market. This is useful as an indicator of the state of the market, and it constantly changes as new homes are listed and existing inventory is sold.A Seller’s market is considered to be 1 to 4 months supply of housingA Neutral market is considered to be 5 to 6 months supply of housingA Buyer’s market is considered to be 7 or more months supply of housing Let's look at the chart. From the chart we can see that the majority of multi-family residences in Newton MA are priced from the $400,000s through the $700,000s. The absorption rate shows that the market is slightly towards a buyer's market for the mid-range properties. Some of these mid-range multi-family residences are greatly overpriced, and will not sell, and will likely get few, if any, offers. A few of them are in the right price range, but not for the condition they are in. These will sell if the sellers are willing to adjust their price to meet offers. Of the five multi-family residences on the market, there are 2 with two-units, and 1 each with three, four, and five units. There are so few units in the price range of the $800,000s and above that the absorption rate is 12 months or more. For units over $1,000,000 there has not even been a sale in the last 12 months, so there is no absorption rate calculated. These multi-families will be bought by investors, if the rising rents in the area justify the prices. In summary, although multi-family residences are about a quarter of the total housing in Newton MA, they are less than ten percent of the current real estate market. They are mostly owned by investors, and do not reach the market as often as single-family residences or condos, so buy them when they are available.

Newton, MA condo market report September 2011 – Absorption Rate

Thu, 06 Oct 2011 11:52:54 -0700

Newton, MA condo market report September 2011 – Absorption RateOn October 3rd there were 135 condos listed for sale in Newton, MA according to the multiple listing service data (MLSPIN). To review, the absorption rate is a calculation of how many months of housing inventory are on the market based on historical rates of sale per month and the current housing inventory. What this tells us is how long it would take to sell all of the houses currently on the market if no new houses came on the market. This is useful as an indicator of the state of the market.A Seller’s market is considered to be 1 to 4 months supply of housingA Neutral market is considered to be 5 to 6 months supply of housingA Buyer’s market is considered to be 7 or more months supply of housing Let's look at the chart. From the chart we can see that the type of market we are in depends a lot on the price range of the condo. The chart breaks down sales and inventory by $100,000 price range. For September Newton is in a balanced market for condos priced under $600,000. September sees a big increase in the number of new listings comming to market. This is a part of the normal cycle. For condos in the $600,000s even though there are six more units on the market in September than in August, the absorption rate has dropped to make condos in this price range a seller's market. For the higher range of condo prices between $700,000 and $1,000,000 the absorption rate has shifted even more towards a buyer's market. For condos over $1,000,000 the absorption rate shows a slight shift towards a seller's market, but there are so few units on the market (5), and so few buyers at that price range, because of competition for single family homes, that it really is more of a balanced market. In summary, there are new units on the market, and the well-maintained, properly priced condos will quickly sell. The others will hold over until the spring market. There is enough inventory for buyer’s to have many choices. The real estate market for Newton MA condos is good.

Link to the very first Active Rain blog post

Thu, 06 Oct 2011 11:40:34 -0700

I was searching for old Active Rain blog posts and found the very first post. You can see it here. http://activerain.com/blogsview/10/blast-the-bubble If you want to see an index of blog posts for a particluar day you can use the following link for June 25, 2006 for example. http://activerain.com/blogindex/2006/6/25 To see a different date just type in the year, month and day that you want to look at instead of "2006/6/25". Have fun. Melville Capps

If it is red, white, and green, then this must be The Lake (Village of Nonantum) in Newton MA

Wed, 05 Oct 2011 14:44:42 -0700

If it is red, white, and green, then this must be the Lake The Lake, also known as the village of Nonantum is the center of Italian heritage in Newton, MA. Just take a look at the streets. And the fire hydrants. And the street signs. And the street light poles. And the flags. And even the pole protectors. And especially the sister city.

Just for fun we looked up Redfin’s transactions for all of Massachusetts on MLSPIN

Sun, 02 Oct 2011 09:37:53 -0700

Just for fun we looked up Redfin’s transactions for all of Massachusetts on MLSPIN. The MLSPIN shows Redfin has one office located in Somerville, MA, a town a little northwest of Boston. Redfin’s transactions are statewide, but mostly in eastern and central Massachusetts. There are 46 agents associated with Redfin. Most of these agents are what Redfin calls “field agents,” who actually show buyers homes. The offers and transactions are handled by just a few agents – the team leaders if you will. In the past 12 months Redfin had 438 transactions where Redfin was the Listing Office or the Selling Office. Of these 281 are single family homes, 141 are condos, and 16 are multi-family homes. Then we did two separate searches: one for Listing Office and one for Selling Office. The results were: Buyers 420 transactions, and Sellers 20 transactions. The two “extra” transactions came from 2 transactions where Redfin was both the Listing Office and the Selling Office. Redfin currently has 14 active listings. As we were using Redfin’s Scouting Report Redfin would show the photo and number of transactions for a couple of their office agents at the top of the search results screen. One of those agents was Hannah Driscoll. Redfin shows her as having 37 transactions in the last 12 months. We looked up her transactions on MLSPIN, and found 32 as Selling Agent, and 2 as Listing Agent. So, Redfin shows 3 more transactions than MLSPIN. We don’t know what to make of this. Is it MLSPIN or Redfin or a combination of the two and the IDX that is the cause of this discrepancy ? Try it for yourself with your MLS. Melville Capps

Special places in Newton Upper Falls: Echo Bridge

Wed, 28 Sep 2011 15:21:14 -0700

Special places in Newton Upper Falls: Echo BridgeEcho Bridge spans the Charles River between Newton MA and Needham MA. The bridge is located near the intersection of Route 9 and Route 128. The bridge was built to carry an aqueduct across the Charles River in 1875 by the Boston Water Works. It was used to carry water from the Sudbury River into Boston. Each section of the railing on the top of the aqueduct is cast with “BWW” as a logo.Echo Bridge is now on the National Register of Historic Places. It is not in regular use as an aqueduct, but it is maintained for emergency purposes. It was used for an emergency in May of 2010 when a major water main burst leaving 38 metro west communities without adequate water supplies.Echo Bridge crosses Hemlock Gorge a conservation area that is now filled with hemlock trees. The falls were used for water power for mills, and some of the buildings remain. People can walk across the top of the aqueduct on Echo Bridge. Locals use it to cross from Newton to Needham. The Newton side entrance is hard to see as it is a small walking path right off Ellis Street located between a house and an antique shop. At the bottom of the bridge is a viewing area right under the main arch of the bridge. It is from this viewing area that one can hear the very strong echos for which the bridge is named. A near whisper will echo off the opposite side of the arch. It is a very pleasant walk in the gorge next to the bridge, and hearing the echo is something that should be on everyone’s to do list. Melville Capps

Growing up in Newton MA

Tue, 27 Sep 2011 16:33:07 -0700

I lived in five homes with my parents when I was growing up. Two of the houses were in Natick, MA and three of the homes were in Newton, MA. This is the house I feel that I truly grew up in. My parent’s owned the house for thirty years.Both of my parents are blind. My mother lost her eyesight at twenty one. My father lost his eyesight in a chemical explosion when he was sixteen. He also lost his left hand in that accident. My parents met at the Carroll Center for the Blind located in Newton on Center Street.Despite his handicap my father forged on and graduated from Boston University. He went on to receive his Doctorate in physics from Brandeis University. My mother is a published poet and she has performed dozens of recitals each year over the last two decades. We were very lucky to have such brave and intelligent parents, who gave us the opportunity to grow up in Newton.There are many amusing stories that can be told regarding my childhood. I am the middle child of three. My brother and sister stayed pretty close to home as children. But I was an adventurer and I had no fear of getting on the local Green line at age seven and discovering what was at each stop along that line. I was a little social butterfly, and the police, sent out to find the missing Melissa, would often find me entertaining elderly ladies on their front porches. Those were simpler and safer times.I have very fond memories from my childhood. As an adult I am still exploring the New England area and I love it here. Home is where the heart is. I went to school at Mason Rice Elementary School, Weeks Jr. High and Newton North High School. My children attended the Waldorf School in Lexington, Burr Elementary, Day Middle School and Newton North High School. It is wonderful to have many shared experiences with my children because Newton has been home for all of us.Melissa Ostrom

Special places in Nonantum ( The Lake ) in Newton MA: Salvi’s Barber Shop

Tue, 27 Sep 2011 14:10:08 -0700

Special places in Nonantum ( The Lake ) in Newton MA: Salvi’s Barber ShopSalvi’s Barber Shop is one of the best places in Newton MA (or anywhere for that matter) for a guy to get a haircut. Salvi’s has been in Newton MA forever. It was once on Galen St. It is now at 386 Watertown St. in The Lake (village of Nonantum.) Their phone no: 617-332-8490, but you don’t need to call. Just walk in. Half the fun is the ten minute wait. Salvi’s hours are: Tues. 7:30 a.m. to 5:30 p.m., Wed. 7:30 a.m. to 6:00 p.m., Thurs. and Fri. 7:30 a.m. to 5:30 p.m., and Sat. 7:30 a.m. to 5:00 p.m. Cash is accepted and there is handicap access.Salvi’s is a Newton MA institution. Everyone at Salvi’s knows each other, or will. People come back for haircuts even after they move out of the Newton area. A visit to Salvi’s is always a reunion of old friends, or a chance to meet new friends.There are lots of great comments about Salvi’s on Yelp, such as: “A hot razor shave to the back of the neck, and a haircut for $15!?!?!?”; “This guy writes the book on great customer service. I’ve always been a fan of ‘The Lake.’ And this place is a hidden gem, for those mushes who were not born on the North-side.”; “Got there this morning for the first time at about 8:45 and had about a 10 min. wait, very standard for most any barber shop. It is a local shop where everyone knows everyone, and people seem to come back even after they move. I heard one guy drove from Burlington. Wow!”Someone on the NewtonPatch website perfectly summed up Salvi’s, “Walking into Salvi’s is like walking into an old friend’s house. The service is friendly and inviting and the barbers deliver top-notch haircuts…” I couldn’t say it better.My father has gotten his hair cut at Salvi’s for about 30 years. My brother goes there. His son goes there. My cousins go there, and they did move out of Newton. I am a mom, when my son was young I would bring him in for his haircuts. Now, he has his own car and I can’t join into the neighborhood fun anymore. I must say I miss it.Melissa Ostrom

Every home has a story

Sun, 25 Sep 2011 10:09:41 -0700

Every home has a story.Someone selected just the right parcel of land. Then someone created the design and drafted the plans. Craftsmen built the house from those plans. That first family moved into the new house and made it their home. They lived their lives in this house. Maybe they had children and passed the house on to them. Maybe they sold it when they decided to move west following their dreams. Then you bought this house. You worked on it and made it your own. Maybe you are ready to move up to a larger house to raise your expanding family, or maybe you are downsizing now that the kids are off on their own. Now it is time for you to pass your home on to someone new. A home is a wonderful place where happy memories are made. As a real estate agent I can tell the story of your house to buyers and show them that they will be the next happy owners of your home.

Morning Silver Gallery in West Newton MA

Fri, 23 Sep 2011 09:54:59 -0700

Morning Silver Gallery in West Newton MAMorning Silver Gallery, located at 1276 Washington Street in West Newton Center in Newton MA, is a jewelry and gift shop with a creative selection of items. Morning Silver Gallery has a focus of hand-made, craft items. They have a wonderful selection of silver jewelry, scarves, soaps, candles, gifts and cards. There is a “new-age” selection of items as well. It is a great place to browse.They have a wide selection from very nice hand-crafted, quality items priced accordingly to gift items priced right for college students or anyone on a budget to buy. They have something for everyone.A recent addition to Morning Silver Gallery is a toy section in a space they expanded into last year. They have a great selection of toys. They have educational toys, stuffed animals, games, kits, and lots of small items, such as rubber ducks and dinosaurs.Everyone working in the store is friendly and helpful. Morning Silver gallery has a unique and wonderful service which is a do-it-yourself gift wrapping station. This makes Morning Silver Gallery the perfect place for gift buying. One can buy a gift for someone, wrap it, and even get a card to go along with the gift. One-stop gift shopping right in West Newton Center.

The Islington Peninsula in the village of Auburndale in Newton, MA

Thu, 22 Sep 2011 04:46:07 -0700

The Islington Peninsula in the village of Auburndale in Newton, MA The Islington Peninsula in the village of Auburndale in Newton, MA, is a quiet, secluded neighborhood of ninety-seven single-family homes on and near the Charles River. Despite its seclusion the Islington Peninsula is conveniently located right off of Commonwealth Avenue and is near the intersection and entrances to the Mass Pike and Route 128. Islington Road is off of Commonwealth Avenue, and is the only egress to the peninsula. The Islington Peninsula also includes Kingswood Road, Duffield Road, Rider Terrace, and Malvern Terrace.The Islington Peninsula is partly land that was once Norumbega Park in the village of Auburndale in Newton MA, and much of that land is now city park and conservation land. Norumbega Park was a 19th century recreation destination for Boston city-dwellers, who could reach the park on the then new rail lines through the village of Auburndale in Newton MA. The park offered boating, amusement rides, trails, picnics, shows and entertainment, and it even had a ballroom. The park’s peak was from the turn of the century until the second world war. It closed in the 1960’s.The Marriot Hotel is located to the south west of the Islington Peninsula. Lyon’s Field baseball diamond is located to the south east of the peninsula. Islington Road turns to the right as one rises up the slight hill from Commonwealth Avenue. Islington Road forms a large oval shaped traffic circle at that point.The inside of the oval is a grass park area which leads to a path to conservation land and the Charles River. This grass oval has been a meeting area for the family’s who live in this neighborhood. The Islington Peninsula contains a fair-sized pond, which has traditionally been used for ice skating in the winter by neighborhood children. The pond is on private property, however permission of the owner has been granted for the children to enjoy its use.The houses on the Islington Peninsula are a mixture of colonial, Victorian, and modern styles. Many of the houses have been extensively renovated or completely rebuilt. The area is zoned SR3, single-family residence 3, with large lots. The Islington Peninsula thus has opportunities for people who wish to buy a smaller house, and completely renovate it into a modern, updated style. All of the houses in the Islington Peninsula are well-maintained, and the people take great effort in their landscaping.Another feature of the Islington Peninsula is that the families in this area have created a neighborhood association. The ninety-seven families have gotten together and have their own private website, and they have printed out their own telephone directory. The idea for this is to create a support system for their community They organize several social events during the year. They have traveling dinner parties where each house will host one course of the meal. They have an annual Halloween party with live music, performed by the local talent. All of this makes the Islington Peninsula a very desirable place to live within the village of Auburndale in Newton MA.

Newton MA Short Sale and Lender Owned (REO) Market Report for September 2011

Wed, 21 Sep 2011 16:02:56 -0700

Newton MA Short Sale and Lender Owned (REO) Market Report for September 2011Yes, there are short sales and lender owned properties everywhere, even in affluent Newton MA.Short SalesThere are currently 10 properties listed in the MLSPIN that are flagged as short sales requiring lender approval. Of these 10 listings 2 are single family houses, 7 are condos, and 1 is a multi-family. They are in all price ranges from the $200,000s to over $1,000,000. One thing they seem to share is a long time on the market. A couple of the them have been on the market for nearly three years, going into and out of agreement more than once.As a percentage of the housing inventory short sales in Newton MA are a very small percentage. There are 10 short sales out of 396 active listings or 2.5% of the market.An MLSPIN listing entry can have three states regarding short sales: “Yes”, “No”, or “Unknown.” Although there are 10 listings flagged as short sales there are 27 listings that are flagged as, “Unknown.”Lender Owned (REO)An MLSPIN listing can have three choices regarding Lender Owned status: “Yes”, “No”, or “Undisclosed.” There are 3 listings flagged as Lender Owned, but, there are also 34 listings flagged as Lender Owned status, “Undisclosed.”Unknown and UndisclosedThe MLSPIN shows 40 listings where the Short Sale status is “Unknown,” and the Lender Owned status is “Undisclosed.” Out of the 61 combined Short Sale “unknown” and Lender Owned “undisclosed,” there is an overlap of 21 properties. So there are not as many distressed properties as it would first appear.Why would an agent select “unknown” as the Short Sale status or “undisclosed” as the Lender Owned status ? A brief examination of the documents attached to the listings show that a few of the “undisclosed” are in fact Fannie Mae owned properties with special contract requirements. As for the others, your guess is as good as mine.ConclusionIn conclusion, although there are short sales and lender owned (REO) properties in Newton MA for the most part the affluence of Newton MA residents has insulated them from the recent foreclosure epidemic. Of course there are also properties in Newton MA that are “underwater,” where the mortgage is greater than the value of the property, but that is another article.Melville

Parkview Homes affordable housing construction completed in the village of Auburndale MA in Newton MA

Sun, 18 Sep 2011 03:56:13 -0700

Parkview Homes affordable housing construction completed in the village of Auburndale MA in Newton MA The ten affordable housing units of Parkview Homes located at 192 Lexington Street in the village of Auburndale in Newton, MA were recently completed this month and are now being sold. There are nine 3 bedroom units and one 2 bedroom unit in the development. Thirty-seven applications were received for the ten available units, and ten income-qualified people were selected by a lottery operated by the affordable housing consulting firm, SEB, LLC of Brighton, MA. (http://www.s-e-b.com).The development is located adjacent to the Burr Elementary School playground. The entrance is on Lexington Street, but the driveway also connects to Albert Road, a short, residential street, which runs parallel to Lexington Street. Access to Albert Road is gated for use only by emergency service vehicles. All of the units allocated to the income-qualified lottery winners are under a signed purchase and sales agreement, and there is a waiting list in case those winners do not complete the sale. The homes are to sell as follows: four three-bedroom homes for $278,000, five three-bedroom homes for $190,800, and a two-bedroom unit for $169,000. Deed restrictions on the units ensure that they remain affordable housing.Melville

Alzheimer's Care Taking

Sat, 10 Sep 2011 03:51:24 -0700

This started out as a longish comment to Paula Smith's blog Rolling With The Punches about taking her grandchild on a showing. One time in my law practice I had to take my Alzheimer's suffering mother to a half-day wage claim administrative appeal trial in front of a judge because I couldn't find anyone to watch her. She also had mobility problems, so I took her in a wheelchair. I put her in the front of the seating so she could hear. She went to law school decades ago, but never practiced, so at least once-upon-a-time she knew how the law worked. I was busy into my trial, and at a break the bailiff comes up to me and says I need to do something about my mother. Turns out she was muttering comments out loud as if she was at home watching Judge Judy on TV. Fortunately she had enough brain cells left to understand that she had to be quiet for the rest of the trial. It is funny in retrospect. People understand it when children behave like they do, but this not automatically the case with Alzheimer's sufferers. I had some cards that I got from the Alzheimer's Association that I used to hand out to people. The cards explained that the person I was with had Alzheimer's and might not behave properly, and please understand and forgive in advance. The cards were great because I didn't have to say anything to the other person that might embarrass my mother. One time we were at Famous Dave's bar-b-que and as the manager walked by and asked how we were doing, my mother irritatedly said she would be fine if that waitress ever would get around to bringing her a cup of coffee. He said he would take care of it, and went over to talk to the waitress. Melissa and I just looked surprised at each other, because my mother had never ordered coffee. I kept my mother entertained while Melissa went off to explain to the manager that the waitress had not done anything wrong. She also explained it to the waitress who was greatly relieved. You bet I left a huge tip for that meal. In my case I was the primary caretaker for my mother. At first she was fine to be a home during the day. I took care of my work during the day, and her and her affairs at night. As her illness progressed I had to essentially "child proof" the house. This started with turning off the circuit breakers to the kitchen, so she would not use the microwave or toaster over. It is amazing what will happen to something that is microwaved for 50 minutes instead of 50 seconds. I had previously removed her car key from her key ring and replaced it with a different car key. This kept her from driving, since she had her license taken away, and since she could never quite figure out why her key would not work. I never had to upset her by confronting her and taking away her car key. As her illness progressed further I could only get away for brief periods of time. I altered and reduced my practice accordingly. Finally I could not get out at all unless I took her along, which was mostly not possible, so I reduced and altered my practice even more. Eventually I had to shut down my practice altogether. In March of 2008 she was diagnosed with cervical cancer. It was very difficult to get her to undergo the diagnostic procedures. By the time we found out her cancer was very progressed. I had to make the very difficult decision to forgo any treatment for her. Treatment would have only extended her life a few months, during which time she would suffer further deterioration from Alzheimer's. She would have suffered from the cancer treatments, and she would not have been able to understand why she was suffering. She would only know that she was suffering. She would not have put up with the full treatment series, so the few (maybe only one) that she would undergo would not do her much good. So her doctor put her on hospice care and she died in May 2008. The number of Alzheimer's cases is increasing rapidly as the baby boomer's age. Alzheimer's care is very expensive with residential care running from $3,000 to $10,000 per month or more. Medicare and other health insurance does not pay for this type of care. People used to be able to use the equity in their homes for this care either by selling their home or using a reverse mortgage to pay for the care while the care taking spouse lives in it. Today's real estate market makes this impossible for millions of people. This is yet another hard done by the real estate bubble. Melville

My New Painting, "Upheaval," by Sarah Alexander of Hopedale MA

Thu, 08 Sep 2011 16:00:38 -0700

This is my new painting, "Upheaval," by Hopedale, MA artist, Sarah Alexander. She recently concluded a show at the Needham, MA library. You can see more of her art work at her website: www.wanderingmindstudio.comWe were friends from elementary school but had not been in touch since this past year. Another very talented artist is her husband Nick Alexander. We also knew each other from grade school. He does amazing work in iron. His website: www.norfolkironworksinc.com It has been a pleasure to reconnect with such old friends and discover how talented they are now. I guess I have to thank facebook for this one!Melissa

Newton, MA condo market report August 2011 – Absorption Rate

Mon, 05 Sep 2011 16:00:02 -0700

Newton, MA condo market report August 2011 – Absorption RateThere are currently 125 condos listed for sale in Newton, MA according to the multiple listing service data (MLSPIN). To review, the absorption rate is a calculation of how many months of housing inventory are on the market based on historical rates of sale per month and the current housing inventory. What this tells us is how long it would take to sell all of the houses currently on the market if no new houses came on the market. This is useful as an indicator of the state of the market.A Seller’s market is considered to be 1 to 4 months supply of housingA Neutral market is considered to be 5 to 6 months supply of housingA Buyer’s market is considered to be 7 or more months supply of housing From the chart we can see that the type of market we are in depends a lot on the price range of the condo. The chart breaks down sales and inventory by $100,000 price range. Newton is in a balanced market for the lower priced, entry level condos priced under $300,000.The middle range of condo prices from $400,000 to $600,000 is a mixed market. The $400,000 condos can be viewed as the high end of the entry level condos, or the bottom of the middle range. For condos in the $400,000s it is a buyer’s market. There are not that many buyers for the higher end of the entry level market, and buyers who want more are looking at much higher priced condos.There is less than 4 months of inventory for houses in the $600,000s, which makes it a seller’s market. But move up in price to the $700,000s and there is over a ten month supply, making it a buyer’s market.For higher priced condos from $700,000 to to $1,000,000 it is a buyer’s market. The chart shows a 36 month supply of condos in the $900,000s, but this is misleading. Most condos of that quality are over $1,000,000, so the few condos in the $900,000s should really be viewed and classed with the $1,000,000 condos.In summary, a well-maintained, properly priced condo in Newton will sell, and there is enough inventory for buyer’s to have many choices. The real estate market for Newton MA condos is good. Melville

Moving day in Boston

Sat, 03 Sep 2011 13:47:15 -0700

Moving day in BostonSeptember 1st is moving day in Boston for thousands of students. On the afternoon of September 1st I was driving east from Newton MA into Boston on the Mass Turnpike. In Boston there is a split in the road at the toll booth. To the left is the toll booth and exit for Cambridge and Brighton. To the right the Pike continues into Boston.Traffic was a mess. The Pike was backed up for about a mile before the toll booth, and was moving at a snail’s pace. As I passed by the line of vehicles waiting to exit at the Cambridge and Brighton exit I noticed something unusual. Most of the vehicles were moving trucks, pickup trucks filled with furniture, cars with mattresses tied to their roofs, and cars with their front and back seats filled with boxes and household items.I just smiled when I realized that the traffic was students moving. Cambridge and Brighton are heavily populated with students. I also noticed that most of the vehicles were going through the slow cash only lane instead of the automated Fast Lane. That’s because they are from out of town and don’t have a Fast Lane transponder yet. Melville

The Cove in Auburndale Park in Auburndale MA (Newton MA)

Fri, 02 Sep 2011 09:03:43 -0700

The Cove in Auburndale Park in Auburndale MA (Newton MA) The Cove in Auburndale Park in Auburndale MA (Newton MA) is a wooded picnic and recreation area on the bank of the Charles River. Auburndale Park runs from Commonwealth Avenue where Lyons Field for baseball is located along the Charles River to the Flawed Meadow Conservation Area and connects to a section of the Charles River Reservation. The Cove is located at the north end of the park across the river from the Islington Peninsula. There is a trail that runs the entire length of Auburndale Park. The Cove has a large parking lot off West Pine Street. Just off the parking lot is an area with exercise equipment for doing pull-ups, sit-ups, etc. Then there is a large field. At the back right side of the field is a tennis court and a basketball court. On the left side of the field is a baseball diamond with some bleacher seating. Continuing to the left towards the Charles River is the picnic area. There are picnic tables, and grills. These areas can be reserved by contacting the Newton Parks Department. There is a playground with lots of equipment for the children.

Newton, MA single family residence market report August 2011 – Absorption Rate

Thu, 01 Sep 2011 02:57:49 -0700

Newton, MA single family residence market report August 2011 – Absorption Rate There are currently 212 single family residences listed for sale in Newton, MA according to the multiple listing service data (MLSPIN). Any agent can use their broker’s online tools or MLSPIN tools to create an absorption rate report. To review, the absorption rate is a calculation of how many months of housing inventory are on the market based on historical rates of sale per month and the current housing inventory. What this tells us is how long it would take to sell all of the houses currently on the market if no new houses came on the market. This is useful as an indicator of the state of the market.A Seller’s market is considered to be 1 to 4 months supply of housingA Neutral market is considered to be 5 to 6 months supply of housingA Buyer’s market is considered to be 7 or more months supply of housingWe have discovered in our area that all of these reports are incorrect. Not by much, but still off. The reason for this is that 18 of those 212 single family residence listings are actually condos.The MLSPIN allows brokers to list condos in two separate listings: one as a condo, and one as a single family residence. When the condo sells the listing as a single family residence is cancelled. The table below shows the data from the MLS and the corrected data by removing condos from the single family residence numbers.

Price Band	Sold in Prior 12 Months	Current Inventory	Months of Available	Condos listed as SF	Months Available without condos
under 100K	0	0	0	0
$100K's	1	0	0	0
$200K's	6	0	0	0
$300K's	23	6	3.13	0
$400K's	59	16	3.25	1	3.05
$500K's	58	29	6	4	5.17
$600K's	62	26	5.03	3	4.45
$700K's	67	28	5.01	3	4.48
$800K's	37	15	4.86	1	4.54
$900K's	36	11	3.67	2	3.00
$ 1M - 5M	157	79	6.04	1	5.96
$ 5M +	0	2	0	0

Melville

Should multiple listing services allow condos to be listed in two separate listings: one as a condo and one as a single family residence?

Wed, 24 Aug 2011 12:34:05 -0700

Should multiple listing services allow condos to be listed in two separate listings: one as a condo and one as a single family residence? The Multiple Listing Service Property Information Network (MLSPIN) which serves most of Massachusetts allows condos to be listed in two separate listings: one as a condo and one as a single family residence. When the condo sells the listing as a single family residence is cancelled, and only the sale as a condo is reported. The effect of this is that the number of single family residences on the market is over represented. A recent check of the market in Newton, MA found that 10% of the single family residence listings were actually condos. This would mean that the absorption rate reports generated from the MLS data would also be off for single family residences, and the number of months of inventory will be too high. In other words the market for single family residences is better than most agents believe.

Newton MA public school board 2011 - 2012

Sat, 20 Aug 2011 00:34:15 -0700

The next meeting of the Newton MA school board (also known as the school committee) is on September 12, 2011. School committee meetings are held at 7:30 PM in the Education Center located at 100 Walnut St., Newtonville, MA 02460 unless special notice is given of a different location. Meeting agendas are posted at least 48 hours in advance of the meeting at Newton City Hall. Meeting agendas are also posted on the Newton Public School's website. The meetings are televised live by NewTV or can be viewed as televised reruns. Click here for to see the current members of the school board