Chris Cruse and Associates Real Estate: To seal home deal, try writing to the seller
by Zoe Jackson Cruse and AssociatesIf you really want that house, grab a pen and start pouring
your heart out to the seller.
And, above all, don’t forget to
gush. Shed that New England reserve and let it all tumble out about how you
will cherish the seller’s house long after they have moved on to that
retirement community in Arizona.
Apparently, your closing argument
should paint an idyllic vision of you and your family sitting by the fire in
the seller’s house, forever grateful to the generous, wise, and bountiful
sellers who gave you the keys to this paradise.
Don’t forget the cute photos of
kids and pets as well, preferably your own, but really any will do.
Says Trulia: This should be the emotional punch line statement that bonds the
seller to the buyer so much that they yell out — “I like these buyers and want
them to live in my home!”
Wow, now that’s a letter!
OK, I am only half serious here.
Still gushing seems to be a prerequisite if you want to write one of these
letters, at least based on the advice being doled out on the many real estate websites out there.
Nearly 30 percent of all winning
bids by Boston-area buyers included a “cover letter” or personal appeal to the
seller, according to Redfin’s latest report on bidding wars in various metro
markets across the country.
That’s down somewhat from the
height of the spring market, when 41 percent of all winning buyers penned
personal appeals.
If you have a bad case of
writer’s block, no worries. There is a whole cottage industry out there online,
offering advice on what to write and how to write it, as well as sample
letters.
Above all, don’t be shy. Says
Trulia:
Pepper it with personality: Express your true
inner feelings, emotions and excitement. Your sincerity and authenticity will
shine through. After all, you have nothing to lose and everything to gain.
Pending sales hit new highs
Massachusetts pending home sales
hit record highs this fall, recent data show.
The number of single-family homes
put under agreement in September and October was the highest on record since
the Massachusetts Association of Realtors began tracking the numbers in 2004.
Pending home sales across
Massachusetts rose 17 percent, to 4,793, this October compared with last year.
September sales were also up 16.2 percent year over year, to 4,297.
Prices also rose — by double
digits yet again.
They were up 12.3 percent in
October, to $320,000, compared with October 2012, the Massachusetts Association
of Realtors reports.
By comparison, back during the
bubble years, there were 4,048 pending home sales in October and 3,959 in
September, according to Multiple Listing Service numbers collected by the
organization.
The October numbers were
particularly telling, coming smack dab in the middle of the government shutdown
and fears that Congress might send the country barreling over the fiscal cliff.
Looks like most buyers here
simply shrugged this nonsense off.
After all, pending sales are the
freshest indicator of market activity, based on purchase and sales agreements
just inked, but which won’t actually close and become official sales for
another couple months.
It was much the same story with
pending condo sales as well, which were up 22 percent over last year, to 1,853
in October.
Of course, the grumpy housing
bears out there will read this as some sort of cheer for the real estate
industry.
Learn to read more closely then,
for the numbers, if anything, are a warning sign that whatever fleeting
affordability the downturn created in the Greater Boston real estate market is
fading fast.
The real issue now is not whether
there is some big cool-down lurking around the corner. Rather, the real issue
is what buyers are increasingly struggling with across Greater Boston, frankly
the state as well. And that’s how to afford to buy a half decent home in the
one of the most expensive housing markets in the country.
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