Mike Lefebvre

As both an appraiser and a real estate agent, I can safely say that appraisers often get a bad rap among the real estate community. Heck, on my really bad days, I've even been known to rip myself apart a little (sounds like someone needs a little more quality time on the couch, Doc...). But once in a while there is a magic moment when the planets align and the Real Estate Gods smiling upon the appraiser. Today was such a day. Can I get an "Amen" people?

I was recently hired by a couple in Waltham, MA who were selling their condo in a lovely old converted 2-family home. They were selling the property by themselves and were a little discouraged at the lack of activity and offers after just a couple weeks. At the suggestion of their lender, a close friend and client of mine, Seth Cohen of Heritage Home Funding, they hired me to perform an appraisal to try and help determine the most likely current market value. Just to check their pricing.

I love these kind of assignments for a couple reasons. (1) There is no preconception of the "number to hit". As much as regulations have been installed to decrease pressure on appraisers to come in at "the" value, when someone simply asks you just to "tell me your professional opinion of the most likely market value" it is a refreshingly welcoming request. And, (2) I always get to wear my real estate agent hat in the background and attempt to be the ultimate "go-to guy" for FSBOs should they decide they eventually want to list their property with a licensed agent. Give, give, give and if they become a statistic and eventually list with an agent, guess who gets the call?

Their condo was on the market for $358,800. A beautiful 2-bedroom, 1.5-bath garden style conversion unit with fantastic river views and nice period detail inside. Based on the most recent market data, my appraisal indicated the most likely market value was more like $345,000. I always cringe a little when I deliver this kind of news to homeowners. "Yeah, great place you got here, real nice, but it's probably worth about $15K less than you think it is..."

Well, the homeowners were very thankful and printed out copies of the appraisal report for the open house that Sunday. I have historically found success in using the appraisal report as a very un-sexy marketing tool. It shows potential buyers why the price is what it is. Again, none of the bells and whistles of a flashy embedded video, but it gets down to the quick 'n dirty of the pricing of the property.

Long story short, their condo went under agreement that Sunday night. Not saying the appraisal was 100% responsible for the pending status, but it had to help! When buyers see, in black and white, an unbiased analytical breakdown of the market value based on comparable sales it gives a real legitimacy to the list price. It helps eliminate some of the BS posturing and negotiating crap that tends to go on.

So where's is the sale pending you might ask? How about less than 1% different from the value I gave them at $342,000. Boo-ya! Sometimes, you just nail it. And when you do, you are the hero and they will have a hard time forgetting you. No, I didn't get the listing. They were in the minority of FSBOs who get to a closed transaction and never pay a commission.

I'm OK with that. Absolutely OK with that. I got a little business out of it. I got a $300 appraisal order. Yeah, the $8,000+ listing side commission would have paid a few more bills, but I am convinced this story is not over yet. Because most importantly I won the respect and favor of a couple of very educated homeowners who have lots of friends and know tons of other homeowners. This one will be a longer harvest. And I'm OK with that.

For now, the fruit of my labor is the satisfaction that after a careful, in-depth analysis of market data, I, as a certified residential appraiser, predicted a market value that was pretty much exactly what the market said it was. So to all the haters out there (Love you J.A., you know that, right!?!?), don't dis... don't front... and above all don't discount the value of the professional opinion of an appraiser when determining true market value!

20th Annual Chamber Golf Tournament from Mike Lefebvre on Vimeo.

Erika Paul, owner/broker of Hallmark Sotheby's International Realty in Hopkinton, MA and two office Realtors, Suzanne Hart and Mary Ellen Wasielewsi teed off in the Chamber of Commerce's charity golf tournament at Pleasant Valley Country Club in Sutton, MA. Luckily they all make their living in real estate, not golf! FORE! All for a good cause... For more on this awesome day on the links, check out Erika's Active Rain blog as well....

Fall is certainly a gorgeous time of the year here in New England, but a question I get from a ton of my clients is:

Is Fall a good time to try and sell my home?

My answer is enthusiastically, YES! And before you discount that response as typical Realtor-speak (as in, "It's ALWAYS a good time to sell your home!") let me explain why I feel this way.

1. Less Competition
A good portion of my colleagues seems to coast from now through the end of the year. It's almost like they assume it's the "slow" time of the year and they kind of turn on their auto pilot settings. They relay, whether consciously or unconsciously, this belief to the clients, and therefore it becomes a self-fulfilling prophecy and less homes get listed on the market. Less homes = less competition. Would you rather have your buyer presented with 20+ similar properties to choose from along with yours, or just a couple others? Your home will stand out to buyers purely because there are less homes to look at.

2. Serious Buyers
Let's face it, the Fall and ensuing holidays are a busy time for everybody. Anybody who is out looking at homes between now and the end of the year tend to be serious buyers who HAVE to buy something. There's usually a strong motivation for these buyers. This time of the year tire kickers and looky-loos spend time at the mall, not at open houses and showings. So although the QUANTITY of showings may decrease over the next few months, the QUALITY should be primo!

3. Fall Homes Show Well
Nothing is more attractive to buyers than a walkway scattered with a few vibrant leaves, leading to a beautifully decorated New England home with a gentle fire crackling in the fireplace. There's usually a pile of apples in a bowl on the kitchen table and maybe a pumpkin or two. Fall in New England is the perfect backdrop for staging a fantastic home for sale. The sights, sounds and smells of Fall in New England paint a wonderful picture in the buyers minds. And buyers make purchasing decisions based on those pictures in their minds.

So the next time someone tells me, "We're thinking about waiting for the Spring market to list", I remind them that (1) you will be up against a lot more competition as far as other listings, (2) you will have a harder time identifying the truly serious buyers and (3) that Christmas tree and warm pumpkin pie in the oven will not have the same effect come April.

IMHO, from now until New Years truly is the most wonderful time of the year! Enjoy.

Joe's Barber Shop is located at the intersection of Routes 1A and 115 (Pond Street) in Norfolk, MA, just behind the Horse 'N Carriage Restaraunt.

Joe gives a good haircut and nearly guarantees you won't lose an ear in the process. He also talks a little about one of his old clients who used to stop in before he became The Tom Brady.

508-385-5030
Sun-Mon: Closed
Tues-Fri: 7:30am-5:30pm
Thurs: Until 7:30pm
Sat: 7:30am-3:00pm

Bring cash or hit the ATM across the street.

Haircuts $14, Seniors $11, Beardtrim/Outline $5

Causeway Street, Medfield, MA 02052 from Mike Lefebvre on Vimeo.

Causeway Street runs southwest from Main Street (Route 109) to Orchard Street. If you're traveling west down Main Street towards Millis, take your first left after crossing Route 27 and you will be on Causeway Street. The video doesn't do the scenery justice and I think you'll agree with me if you take the drive in person, Causeway Street truly is one of Medfield's "most prettiest" streets.