A Summer to Remember

By Jay Hummer

I like to think of myself as a glass half full type of guy.  I’m the type who also tunes into the news looking for that good positive story, realizing that the headlines are generally dominated by doom and gloom.

The summer is winding down, and the recent headlines in the news on the real estate industry can look pretty scary. There are lots of negative headlines out there, ones like “Foreclosure Crisis Deepens,” “Mortgage Refinancing Tougher Than Ever,” and “Home Sales Plummet in July.”

But dig deeper and you’ll find that even as summer phases out, there are still some real bright spots out there.

Let me put a few things into perspective. Yes, sales were down both nationally and locally for the month of July.  According to the National Association of Realtors, sales were down 27%  for the month, and locally the Massachusetts Association of Realtors reported a month-to-month decrease of 38.1 %.  However, one silver lining that both associations report is an increase in median home sale prices. Freddie Mac reported home prices rose 3.1% in the second quarter of 2010 versus the first quarter, while the Massachusetts Association of Realtors reported a 7.4% year-over-year increase in median selling prices for single family homes.

The reality is that tax incentives for buyers have expired and the July market reflected that.  July was the first time in twelve months that sales numbers have been down, and now the industry needs to look forward and march on its own two feet. There are some positive signs out there as interest rates remain at record lows and prices remain affordable.

The Boston Globe recently compiled a list of “hot spots,” places that bucked the trend in July and have seen very positive sales numbers.  These ten locations referenced are just a sampling of communities throughout New England that continue to witness positive trends.

On September 2^nd the National Association of Realtors reported that pending home sales for July had increased by 5.2%. What was encouraging about that report was the reference that sales were driven by amongst other hot spots, a more than 6% increase in the Northeast.

As I’ve pointed out previously, unemployment rates will continue to be the main influencer of the market, and market supply will also be a factor.  There are buyers out there right now who are waiting for the right inventory to come to the market and when it does, they will fuel the market moving forward.

There continues to be activity at every level of the marketplace, so don’t be discouraged by the headlines.  Maybe you are still not sure if it’s the right time for you? As always, I’d encourage you to contact you local RE/MAX agent who can help assess your individual needs. In the meantime, soak up these last few weeks of sunshine—boy did another summer to remember fly by fast

Awarding somebody a new home is the biggest prize RE/MAX of New England has ever given away, so don’t miss out on your chance to enter. Whether you are a first-time homebuyer looking for your very-first place, or a young family that has been hoping to upgrade to a bigger house, or just somebody who has long dreamed about owning their house, this contest is for you. If you have a compelling reason as to why a new home will change your life, let us know.

As if winning money for a new home is not enough of an incentive to enter, how does having RE/MAX and the Patriots throwing a party at your house sound? That’s right, in addition to the $500,000 toward a home purchase, RE/MAX of New England and the New England Patriots will host a dedication ceremony in your new home. I guarantee you will not have problems making friends with your new neighbors after with a party featuring the Patriots!

So, this fall as you watch the New England Patriots hopefully make another run at another Super Bowl championship, we here at RE/MAX of New England will be watching extra closely and hoping for a very high scoring season. Each touchdown scored brings them closer to 76 and we’ll be rooting hard for a record-breaking season. Head over to www.remax-newengland.com for additional details and to apply for the “Take You to the House” program and this year’s New England Patriots season could change your life.

Agent of the Month: Mary Korbey

Congratulations to RE/MAX Team Leader Mary Korbey from RE/MAX Executive Realty in Hopkinton, MA who had the top producing team in RE/MAX of New England for July 2010!

Mary has been in the real estate industry for almost 20 years and has been with RE/MAX for 15 years.  This longtime RE/MAX professional says the key to success is simply building great relationships in the community, developing a good reputation personally and professionally and keeping in touch.  “My team has always emphasized the importance of nurturing relationships and working by referrals.  We try to keep our name out there as much as possible, and when you have a recognizable brand name like RE/MAX, it makes it easy!” Korbey said.

The condition of the market has not made business easy over these last couple of years, but a smart game plan and positive outlook allow Mary and her team to keep on truckin’.  Korbey said “We needed to find a way to be more innovative in getting our name out there.  We are starting to get involved on more local boards, and working on more community-based projects.  The key is not only to help our business but better the local community as well.”

Gaining a larger sphere of influence is only half the battle according to Korbey. “Your reputation has to speak for itself.  You need to constantly deliver and go the extra mile if need be to make sure something gets done.  A good reputation coupled with the brand exposure and phenomenal asset that is remax.com has provided us with a good Summer.”

Mary has been a consistent winner of RE/MAX of New England’s 100% Club award and currently services the Metro West and Blackstone Valley areas with a concentration in Hopkinton, Southborough, Westborough, Holliston and Northbridge all located in Massachusetts.

If you would like to contact Mary, she can be reached at:

Office: (508) 435-5357
Website: www.myhousepartners.com
Email: marykorbey@remaxexec.com

Jay’s Restaurant Review Now Live on the RE/MAX of New England Blog!

By Jay Hummer

Our RE/MAX Agents and Broker/Owners know that I love great food. A common question I hear is, “Where should we eat Jay?” We thought we would give some recommendations so that you would have a place to dine while you are out of your home area. Bon Appétit!

For those that are at the Results-Based Recruiting event with Judy LaDeur and Kathy Baker at the Sheraton Needham today, I’ve posted some recommendations on where to enjoy dinner afterward. Jay’s Restaurant Review »