MILLINER'S OPENING, CHATHAM OFFICE

The folks in our Chatham office are pleased to host a community welcome for Milliner Victoria DiNardo on Saturday the 15th.

Please join us in welcoming Victoria and have a little holiday nibble with us.

IT'S SEEMS TO BE MOVING FORWARD

For those of you who've been following the progress of the plan to re-establish passenger train service between the Berkshires and NYC here's a progress update.

http://www.berkshireeagle.com/local/ci_21279298/new-york-city-pittsfield-train-line-step-closer

It's good to know that this project is on track (yes, I did that on purpose!)

ANOTHER POSITIVE SIGN

Bloomberg.com reports this morning that home equity levels made their biggest gain in 60 years with a gain of 7.3% in the first quarter.  It was also reported that home equity levels have recovered to their 2008 values.  Little by little home values are recovering.

That news made me think about the market conditions here in the Berkshires.  In this office we have been seeing a choppy but steady increase in activity from sellers choosing to list their property as well as buyers who are showing a real commitment to buying.

I'm developing a better sense of what a recovery looks like and it's never really a straight trajectory.  It's about people putting their toes back in the water, finding that it's tolerable and carving a path for others.

And, at the end of the day, isn't that really how things get better?  Little by little, 2 steps forward/one step back?

Thanks, everyone.

Latest data from the National Association of Realtors ( using info from a recent Gallup poll) show that real estate professionals have an improved public rating.  I find that really gratifying since we, at Stone House Properties, LLC, work so hard to be sure that all of our clients needs are met in the most responsible fashion.

So, from all of us here at Stone House, thanks for recognizing the hard work your Realtor does on your behalf.

Real Estate Agents Inch Up in Public Opinion

DAILY REAL ESTATE NEWS | WEDNESDAY, MAY 30, 2012

Real estate professionals rank higher than lawyers, business executives, and advertising practitioners when it comes to the public’s perceptions of honesty and ethics, according to a recent Gallup poll. 

In fact, real estate professionals received their highest rating yet in the poll, since Gallup began measuring Americans’ perceptions of honesty and ethics of 21 professions since 1976. 

In the survey, 20 percent of respondents gave real estate professionals a “very high to high” rating on honesty and ethics. Fifty-seven percent of the Americans surveyed rated them as “average” when it comes to honesty and ethics. 

Meanwhile, the profession that scored the lowest of the 21 professions ranked were members of Congress, in which only 7 percent of respondents rated them “very high to high” when it comes to ethics and honesty -- the lowest on record. 

The professions that scored the highest in honesty and ethics belonged to the medical profession, with nurses, pharmacists, and doctors -- who were all at the top of the list.  

Source: “Housing Prices Show Signs of Stability,” The Wall Street Journal (May 29, 2012) and “Record 64% Rate Honesty, Ethics of Members of Congress Low,” Gallup (Dec. 12, 2011)

Read More

Gallup Poll: View of Practitioners Improving

IT'S EVEN BETTER THAN I THOUGHT

Take a look at this posting from the National Association of Realtors showing what national economists are saying about where the real estate market is heading.

Home Prices to Rise 4% Per Year?

DAILY REAL ESTATE NEWS | WEDNESDAY, MAY 09, 2012

Have home prices finally hit bottom? Many analysts think so. According to the latest forecast by Fiserv, the market watcher sees a big boost to home prices on the horizon, projecting that home prices will rise nearly 4 percent per year for the next five years.

The real estate markets expected to see the biggest increases in home prices will likely be those hardest hit the last few years by foreclosures, such as in Phoenix and Las Vegas, and areas where prices have fallen the most, according to Fiserv’s forecast. 

Housings rising affordability mixed with falling inventories of for-sale homes are the main factors driving the expected price increases, according to Fiserv. 

Initially, investors are expected to help drive most of this price increase, and then followed by first-time and trade-up buyers as they re-emerge in bigger numbers to the market.

Source: “U.S. Home Prices Could Rise 4% a Year, Forecast Says,” USA Today (May 8. 2012)

THE BEGINNING OF THE BEGINNING

As far as I'm concerned, Berkshire real estate has seen the end of its recent downturn.  While the national media said the real estate market had hit bottom sometime in the late Fall of 2011 my thought for the Berkshire market was that late August 2011 was the turn-around point.

It took a few months of steady (yes, and slow) progress to be sure that was the case and it does appear so.  Homes coming on the market for the first time are at a price that makes sense to buyers, who are still looking for extraordinary values.  Property coming back on the market is also priced well.

In terms of actual buying patterns there are two price ranges that feel strong - homes priced under $350,000 and high end homes.  We are actually seeing competing bids for houses in those price ranges.  In fact, county wide compared to this time last year we are up nearly 20% in the number of sales and our inventory is down nearly 13%.

In short, this is a good time for buyers to buy - prices are still good and bank rates are still excellent.  It's a great time for sellers to put a house on the market (as long as it's priced right) because there's not as much out there as there used to be.

This great village home in West Stockbridge is newly listed at an amazing $239,900.

Well We Knew, Now Everyone Does

Smithsonian magazine just named our own Great Barrington one of the best small towns in America - something we've all known for some time!!  We think you'll enjoy reading the article.  Thanks to Smithsonian for such a thorough and accurate portrayal.

http://www.smithsonianmag.com/travel/The-20-Best-Small-Towns-in-America.html?c=y&page=2

DOESN'T THIS WEATHER MAKE YOU WANT TO SPRING CLEAN?

Well, it's far more likely that it makes you want to go out and play but if you have a house for sale this is a great time to do a deep spring cleaning.  I can't over emphasize how important it is for your house to look, feel and smell really fresh.  These easy tips from Jane Hoback (reprinted from Realtor.com/House Logic) are things you might not think of but are surely things a buyer viewing your home will see.


De-bug the light fixtures

See that bug burial ground within your overhead fixtures? Turn off the lights and carefully remove fixture covers, dump out flies and wash with hot soapy water. While you’re up there, dust bulbs. Dry everything thoroughly before replacing the cover.

Vacuum heat vents and registers

Dirt and dust build up in heat vents and along register blades. Vents also are great

receptacles for coins and missing buttons. Unscrew vent covers from walls or pluck them from floors, remove foreign objects, and vacuum inside the vent. Clean grates with a damp cloth and screw back tightly.

Polish hardware

To deep clean brass door hinges, handles, and cabinet knobs, thoroughly wipe with a damp micro -fiber cloth, then polish with Wright’s or Weiman brass cleaner ($4). Dish soap shines up glass or stainless steel knobs. Use a Q-tip to detail the ornamental filigree on knobs and handles.

Replace grungy switch plates

Any amateur can wipe a few fingerprints off cover plates that hide light switches, electric outlets, phone jacks, and cable outlets. But only deep cleaners happily remove plates to vacuum and swipe the gunk behind. (OK, we’re a little OCD when it comes to dirt!) Make sure cover plates are straight when you replace them. And pitch plates that are beyond the help of even deep cleaning. New ones cost less than $2 each.

Neaten weather stripping

Peeling, drooping weather stripping on doors and windows makes rooms look old. If the strip still has some life, nail or glue it back. If it’s hopeless, cut out and replace sections, or just pull the whole thing off and start new. A 10-ft. roll of foam weather stripping costs $8; 16-ft. vinyl costs about $15.

Replace stove drip pans

Some drip pans are beyond the scrub brush. Replacing them costs about $3 each and instantly freshens your stove.

How Clients Are Better Served By a Realtor

This position statement from Realtor.com hits a few very important points about the difference in skill level and accuracy between a practicing real estate agent and some of the on-line sites commonly used.

Expertise from Real Estate Professionals: Far Better Than an Estimate

Real estate websites serve as an important platform to help buyers find their next home, and certainly help sellers expose their listings to those buyers.

But in our view, real estate websites are a starting point, not the ultimate decision engine.

Accurate data and up-to-date listings are very important, but ultimately, we believe theexpertise provided by a real estate professional is a far better indicator of true market value than an estimate derived by machine.

That’s why we only display REAL PRICES on homes for sale on REALTOR.com®. Real prices that have been established between a seller and the listing broker, not a mechanized estimate.

Estimates may be OK if they’re used as a reference point to gather general information, but we feel placing mechanized estimates on an active listing that’s been priced by a local professional familiar with the market is misleading.

At best, these estimates are confusing to consumers. At worst, they create the perception of market conditions that don’t accurately reflect reality.

That’s why we don’t do it.

The real estate market is not a “paint-by-numbers” animal. Local market conditions can vary drastically from zip code to zip code, neighborhood to neighborhood, and can change at a moments notice.

Foreclosures and short sales – or the removal of distressed inventory all impact what’s actually happening.

Estimates that are placed on listings that already have an established sale price not only create a recipe for inaccurate information, they also create a strain on real sellers and a strain on the agents who work hard to create CMAs and pricing strategies based on what’s actually happening.

Sellers deserve better than that. Buyers deserve better than that.

Lost in the machinations and histrionics that permeate the discussion about listings and accurate data is the one thing that should be crystal clear:

Real Estate is NOT a game.

It’s a serious business with significant financial and emotional ramifications for the parties involved in every transaction.

And at REALTOR.com®, we have a responsibility to provide accurate information and accurate representations of what’s actually happening in the market – so consumers get the REAL story about what’s happening in their market.

And we do this by displaying real prices from real professionals in every market we serve.

That’s the thing that can really help consumers get a flavor of what’s happening locally, and that’s what we deliver.

HOW TO GET YOUR HOUSE SOLD IN 2012

Seems there are a lot of articles out there in the first few weeks of the year to help sellers best position their property for sale.  The most helpful one I read was from Steve McLinden at bankrate.com.  He offers the following suggestions:

       PRICE IT RIGHT FROM THE BEGINNING - buyers are very aware of the market and have a good sense of values.  We see it over and over, when a house is priced high at the beginning it takes longer to sell and sells for less than it would have had it been priced right in the first place.

     THE HOUSE HAS TO LOOK GOOD - There's no getting around it, all those little chores (and maybe even some big ones) have to be done if the house is going to sell.  Buyers have less disposable income these days and don't want to deal with the unknown of projects left to be completed. And, there are likely to be other houses out there whose owner has done that work that will offer stiff competition to your house.

     MAKE SURE YOUR AGENT IS TECHNO-SAVVY - Nearly all buyers and sellers are using the internet in some capacity as part of their real estate search.  You should be searching for a highly rated website, postings on Facebook and Twitter and agents using smartphones for everything from email to videos.

     BE FLEXIBLE - there are all kinds of items in a negotiation that have value and as a seller you should work with your Realtor to carefully evaluate the true value of each of those items and their impact on the final value of the selling price.  Things to consider are:  how to handle a cash offer, negotiation of association dues and fees and even considering seller financing (which could be beneficial to both buyer and seller!)  Think about the extras you can "throw in" that might have value to a buyer.  Most importantly, don't dismiss an offer because it is low.  In most cases, we are seeing agreements being made even when the initial amounts are very far apart. Hang in there and work it through.

The bottom line is that homes are selling.  It's not always the easiest process but they are selling.  In short those houses are the ones that are well priced, in great condition, being handled by agents who are willing to work hard in every realm and those owned by sellers who are willing to listen and negotiate.