Spring Market Update
May 2014
Dear neighbor,
While it may not feel like spring yet, in the real estate world we're well into the BUSY spring market. Following last year's trends, inventory is still low and bidding wars are increasingly common in many of the Metro areas. In my last email I noted some of the best ways to structure your offer to make it stand out to a seller - the key is always being prepared and understanding the market, and having the right representation - a great team including your real estate agent, your lender and your attorney. The purpose of my newsletters is to help you be as prepared as possible, so that together we can achieve your real estate goals. As always, feedback & questions welcomed!

Escalation Clauses in Today's Market
A theme coming up in today's market are escalation clauses, brought to limelight in April's Boston Globe article. While they are becoming popular, that doesn't mean they are always the best option. Clients often ask me the pros and cons. Basically with an escalation clause, a buyer offers X, with a stipulation that they will pay X amount over the highest bonafide offer either up to a certain max price, or without a limit but with a specific time frame to respond (1-2 hours). From a buyer's perspective, they could be a great way to save money and not "overbid"; although in some situations with a cap, you are playing your best card forward, which may turnaround and leave you paying even more. These clauses are not always considered by a seller, so it's something your agent should be inquiring about before submitting an offer. They should also be put together with careful consideration and with attorney consultation. For more detailed information on escalation clauses, please contact mfleet@kw.com. 

~  Recent Boston Globe Article ~
Lender Highlight: 3 Biggest Buyer Misconceptions
One of my preferred lenders, Shant Banosian of Guaranteed Rate, and his team were recently recognized as one of the top 200 Loan Originators in the country and the #1 Purchase Money LO in MA for 2013. Here Shant shares the top 3 misconceptions people have about the home loan process:

1. You must put down 20% to buy a home: We have products for home buyers in which you can put as little as 3% down and get a great rate. 
 
2. It is very difficult to get a mortgage: Getting a mortgage is difficult only if you are not prepared. Getting a Pre-Approval and realistic expectation of documentation requirements and underwriting criteria makes the whole process much easier.
 
3. Self Employed borrowers cannot qualify for a mortgage: Not true, it is just as easy for someone who is self-employed to get a mortgage, as it is an employee of a business.
Melanie Wins Silver Award for 2013 Production
I was recently awarded the Silver Award for multi-million dollar sales production in 2013 by my office, Keller Williams Realty. After many years of hard work and building a strong referral business, I'm honored and very proud of this accomplishment. I truly love everything about real estate especially meeting such great people, building relationships and making friends along the way. I owe so much to my clients and appreciate your continued loyalty - thank you for trusting me to help you achieve your real estate goals!

RED DAY - KW Gives Back on May 8th
RED Day (Renew, Energize and Donate) is an initiative dedicated to celebrating Keller Williams Realty's year-round commitment to improving our local communities.  Each year, on the second Thursday in May, tens of thousands of associates from across the United States and Canada participate in a wide range of projects, devoting their time to renewing and energizing aspects of the neighborhoods in which they serve. Our Chestnut Hill office will be helping "spruce" up the local Boys and Girls Club including planting flowers, cleaning up the grounds and other landscaping. It will be the beginning of a long-term initiative with the Newton Boys and Girls Club, as KW agents plan to teach a variety of classes from cooking to art in the future. 

~ PIC: KW Chestnut Hill at last year's RED DAY ~
My KW APP - Easier than Ever, NO CODES!


~ CLICK ON BOX ABOVE TO GO RIGHT TO APP! ~
If you or anyone you know is looking to buy or sell this year, I'm happy to help! You can feel confident any referrals will receive top-notch service. Don't hesitate to call me at 508-439-3099 or email mfleet@kw.com.

Sincerely,

Melanie K. Fleet
Keller Williams Realty
REALTOR, ABR
 
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