About Norfolk County, MA

After reading Richard Weisser’s featured post this morning about the “old days of real estate” it made me think about those “old timers” who are still making money in this business. The old timers are making money and the younger members of our business are complaining that no one is calling!!

Hmmmm….could it be that the old methods of making the phone ring are still working? Could it be that some of the old methods of prospecting for new business will never stop working?

I fully understand the frustration of receiving long faxed paperwork; having to wait for hand delivered contracts; and not having the ability to text the other agent for a quick response to a question. I can fully understand all of that and agree that it’s frustrating.

Do you understand how important it is to learn and practice some of the “old school” methods of marketing? Online marketing is critical today, but not everyone is online. As an example, most of our active adult community transactions are a result of direct mail marketing; invitations to our open house events are from direct mail marketing; and we also advertise in a local homes magazine. Believe it or not, people still read the newspaper and homes magazines.

It’s important to know who your buyers will be and target that market. It can’t always be done with modern online marketing. Most of the "old timers" have business and will probably survive during this critical time. We’ve seen many younger agents fall to the wayside and it’s mainly because they did not know how to make their phones ring. Don’t eliminate the value of old timers and learning some of their old time methods. Big Mistake!!

As the residential resale market continues to improve, new construction pending sales are also improving. Most buyers of new homes have a home to sell, and without that sale they cannot buy.

What we’ve been experiencing are past visitors to our open house events now purchasing our new condos. Their homes are pending, and those homeowners are now able to make that move that has been their goal for over a year!!

Most of these new pending sales are from visitors to our open house events every weekend. They continually return to see if anything has changed and to investigate where we are with our pending sales. The excitement of finally selling that resale home is evident. Buyer agents are also thrilled. For most of the buyer agents, it’s their “first visit” to our new communities, and it’s an easy deal for them. The buyer has already made a decision to buy there.

Purchasing a new home is a domino effect, and when a house is pending, there is another sale to look forward to. Of course, if one falls, they all fall!!! There is nothing more disappointing than the domino effect in real estate.

The Westwood Rotary Club will be holding a Pancake Breakfast on Sunday April 1, at the Westwood High School cafeteria. Breakfast will be served from 8:00am to 12:00 noon. Attendees will enjoy juice, pancakes, sausages and a choice of coffee, milk or tea. The cost is only $5 for adults, and children under 5 will be admitted for free. All are welcome to return to the serving counter for seconds. The Easter Bunny and other fun characters will be on hand to entertain the children.

The Pancake Breakfast is a major fundraiser for the Westwood Rotary Club, and helps to support the club's various charitable endeavors. The proceeds benefit the projects of Westwood Rotary, which include: Gift of Life, the eradification of Polio, local youth scholarships, youth sports, dictionaries for all 3rd graders in Westwood, winter coats and Holiday gifts for families in need.

The Rotary Club Of Westwoood

Annual Pancake Breakfast

Great Fun For The Entire Family!

Sunday April 1, 2012

http://www.bainmortgage.com/MortgageMarketWeekInReview

Newsletter-March 12th, 2012 Provided by Dana Bain & Robin Dunbar Bain Dana Bain Premiere Mortgage Services www.BainMortgage.com 11 Malvern Hill Road Sterling, MA 01564 Phone: (978) 422-2311 Fax: (978) 422-2313 E-Mail: dana@bainmortgage.com <!--Begin Body Content--> Market Comment Mortgage bond prices finished the weak near unchanged keeping mortgage interest rates relatively in check.Rates were positive the beginning of the week following reports that Greece would not make the deadline to persuade bondholders to restructure the debt they held.That all reversed by the end of the week when a large majority of bondholders looked to be on board.Greece was required to restructure the debt in order to obtain bailout funds from the European Union and the International Monetary Fund.Despite progress, there was still some uncertainty heading into the weekend.Most analysts agree that Greece still has challenges even if they obtain the bailout funds.Future instability in Greece could benefit our interest rates by reigniting the flight to quality buying that has factored into our low rates. LOOKING AHEAD Economic Indicator Release Date & Time Consensus Estimate Analysis Retail Sales Tuesday, March 13, 8:30 am, et Up 0.3% Important.A measure of consumer demand.A smaller than expected increase may lead to lower mortgage rates. Fed Meeting Adjourns Tuesday, March 13, 2:15 pm, et No rate changes Important.Few expect the Fed to change rates, but some volatility may surround the adjournment of this meeting. Weekly Jobless Claims Thursday, March 15, 8:30 am, et 355k Important.An indication of employment.Higher claims may result in lower rates. Producer Price Index Thursday, March 15, 8:30 am, et Up 0.2%, Core up 0.2% Important.An indication of inflationary pressures at the producer level.Weaker figures may lead to lower rates. Philadelphia Fed Survey Thursday, March 15, 10:00 am, et 8.8 Moderately important.A survey of business conditions in the Northeast.Weakness may lead to lower rates. Consumer Price Index Friday, March 16, 8:30 am, et Up 0.2%, Core up 0.2% Important.A measure of inflation at the consumer level.Weaker figures may lead to lower rates. Industrial Production Friday, March 16, 9:15 am, et Up 0.1% Important.A measure of manufacturing sector strength.A lower than expected increase may lead to lower rates. Capacity Utilization Friday, March 16, 9:15 am, et 78% Important.A figure above 85% is viewed as inflationary.Weaker figure may lead to lower rates. U of Michigan Consumer Sentiment Friday, March 16, 10:00 am, et 70.3 Important.An indication of consumers’ willingness to spend.Weakness may lead to lower mortgage rates.

Producer Price Index

The producer price index is a measure of prices at the producer level and is important because it is the first inflation report to be released each month.Investors are typically able to gain an initial indication of inflationary pressures from the release.If producer prices are increasing, there is a tendency for producers to pass the increases on to consumers in the form of higher priced goods.It is important to note that the PPI is only a measure of goods, while the consumer price index is a measure of goods and services.It is possible for the price of goods to remain stable, while the price of services increases.In this scenario PPI would do little to warn of a change in inflationary pressures, while the CPI report would provide an indication of the inflationary effects of the service component.This distinction between the two reports shows why most analysts view the CPI as a more accurate indicator of inflation.Nevertheless, market participants still gain valuable insight into potential volatility in the financial markets from the PPI release.Be cautious heading into the inflation data this week.