September 2013

Hey Landlords, Investors and Contractors,

A. Market, B. Movers and Shakers 9/6 7PM & C. Housing Judge 9/17 6:30 PM

A. Market – from all accounts, the Hot Real Estate market is expected to continue!

Last month (this is traditionally a slow month) in Peabody, MA there were 43 sales, 28 (SF) Single Families averaging 70 Days on Market (averaging $344,113. Sold price). Current Inventory is 115 SF which is just over 4 months supply. No big deal until we subtract what’s (UAG) Under Agreement, and (CTG) Contingent on a condition, leaving us with 52 (ACT) Active, available SF for sale. Not even 2 months supply!

I believe Sales will remain strong through September, Prices getting bid up on sought after properties, DOM dropping and Rates flat or increasing slightly but I’m not a betting man. So if I were interested in Purchasing (or taking advantage) now. I’d Stake out an Area, study my Comparable Sales (you can ask us for an automatic report every morning [email protected]), arrange my financing [email protected] and work with an Assertive Broker (again [email protected]) Please no 50% List Blind offers, maybe that was OK last November/December.

B. This Friday, September 6 is Movers and Shakers where we’ll review What we’ve been working on, Network to see if we can make connections to help us along and Share solutions.

C. Tuesday, September 17 we’ll have our meeting with the Housing Court Judge. You only need to attend if:

1. You are a Landlord in the “Tenant Happy” state of Massachusetts?

2. You are purchasing a property in Mass with current Tenants?

3. You have thought about “Plan B” (renting instead of selling)?

4. You’re working on a Property that will be Rented in Mass?

5. You’re interested in a copy of the “T/L Maintenance Checklist & Rental History”

6. You need a set of Current T/L documents for a Legal Tenancy?

Good luck Investing and I look forward to seeing you soon, Mike Hurney, Director, MassRealEstate.net PO Box 307, Marblehead, MA 01945 781-639-8616 [email protected] NMLS#43341

PS Adjustables are still much lower than Fixed products if you need a low payment for now.

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