Walk around Somerville, Medford or Cambridge in late August and you're likely to catch a whiff of grape juice. Concord grapes ripen at the end of summer and there's many a backyard arbor to be found in the city. More than once I've plucked grapes from the vine while showing a property and I have wonderful memories of sitting beneath dangling bunches of fragrant grapes at the Neighborhood Restaurant in Union Square, Somerville. Best of all - Concord grapes are like tasty vitamins - loaded with disease-fighting antioxidants.
Though I grew up in Concord, home of the Concord Grape, I was a fan of green grapes - the supermarket variety - until I bought my current house which came with an old grape vine in the backyard. Now every summer I feel like a farmer as I harvest my crop of sweet smelling grapes.
I'm an amateur farmer, however, sorely in need of guidance. Benign neglect has led to a substandard crop. Many of the grape clusters wither on the vine and I'm sure my overgrown arbor should be mercilessly pruned. What's an uninformed gardener to do?
In Massachusetts help can be found at the Mass Aggie Seminars offered through the University of Massachusetts. Workshops on growing a variety of backyard fruits are offered in the spring. I'm planning to enroll in Growing and Pruning Grapes in the Home Garden.
A bit of history with your grape juice? Commercial production of the Concord grape began in 1854. Ephraim Bull (1806-1895) had experimented with native grapes on his Concord, Massachusetts farm for several years and in 1853 his grapes won 1st prize at the Boston Horticultural Society's exhibition.
Ephraim Bull's house, Grapevine Cottage, is currently on the market in Concord for $799,000 complete with monument and grapevine. Just down the street from the Alcott's Orchard House and Hawthorne's Wayside, this historic house is delightful and filled with charm. Parts of the house are thought to date to the 17th century. This is truly a rare and wonderful opportunity for the old house enthusiast - or grape lover!
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In addition to growing grapes, Elizabeth Bolton works with buyers and sellers in Cambridge, Arlington, Somerville, Medford, Watertown, and Belmont and nearby communities. Read more about the real estate market in the Cambridge area and contact Liz Bolton when you're thinking of buying or selling.
Unlike some winters, the snow cover in my yard has been intact for weeks - but not untouched. In fact, my backyard appears to be a veritable crossroads - a busy intersection - for local animals.
Well I'm betting that the tracks come from my neighbors' cats and from my squirrel neighbors, it's not completely unlikely that other sorts of beasts have crossed that snowy expanse.
There have been coyote sightings in Medford and back on Labor Day weekend I came across a deer on Orchard Street in Cambridge, near Porter Square and just one block from Mass Ave., a busy city street. Wild turkeys are familiar sights in South Boston, near Harvard Business School, in Jamaica Plain and elsewhere in the city.
Winter snow creates a great opportunity for studying evidence of the local fauna. And if you venture out of your yard into local parks or conservation land there's lots to see if you know how to find the clues.
There are excellent sites online with loads of info an tracking including Beartracker's site and a comprehensive guide from Princeton's Outdoor Program.
If you prefer hands on instruction, two upcoming Massachusetts workshops, one in Concord at Walden Pond and another at Maudslay State Park in Newburyport offer the opportunity to educate your eye and introduce the kids to the great outdoors.
Given the unrelenting doom and gloom in the media, it's no wonder you feel like you've got the upper hand when you're looking for a new home. Visions of lowball offers, grateful sellers, and bargain basement prices dance in your head.
But real estate is local and even today you may find yourself in a competive market where houses sell quickly and still get multiple offers.
There have been a number of multiple offers in my market recently and it can take newcomers by surprise. Some houses, clearly well priced, get half a dozen or more offers the first weekend on the market. So here's a game plan to take you through the crazy, stress-producing process of buying a home when you've got competition.
What's a savvy buyer to do when there are multiple offers?
For starters, don't be discouraged and don't be afraid. It is possible to "win" and get the house of your dreams and it doesn't necessarily mean you have to break the bank to do so. I've bought three of the four properties I've owned in multiple bid situations - including my first house. And I've been happy with every house - no regrets!
Get A Buyers' Agent
You need to be working with a buyer's agent who will represent your interests in the transaction. Sometimes buyers think that going directly to the seller's agent will give them a leg up. But the seller's agent's responsibility is to the seller, not to you as a buyer. And it's quite likely that the seller will still owe the same commission to the listing office even though only one agent is involved in the transaction. And most important - in a multiple bid situation the listing agent's responsibility is to get the best offer for the seller - regardless of whether you've submitted an offer directly to him or her. The sellers' goal is to get more money in their pockets - not the agent's.
You need somebody on your side. A buyers' agent will be able to:
How Does the Seller Decide Which Offer To Accept?
When the seller looks at several offers there are only so many points to compare. You want to shine on all points:
Price - Go over the comparable sales information with your agent. Don't get stuck on the asking price - the house may be purposely priced low to generate excitement - and that strategy worked! Carefully go over the stats and decide on a price that makes sense and seems competitive. Your agent will have experience in the market and be able to offer advice but ultimately you're deciding on an offer price that is comfortable for you and reflects just how much you want the house.
Don't assume that multiple bids means the offers will go sky high - sometimes all the offers can be under the asking price. Other times it does seem the sky is the limit - we've had at least two houses in Cambridge sell for $1,000,000 over the asking price. The comparable sales info and the amount of activity for the listing should give you some sense of how the offers might go.
Dates - Your agent will find out what dates work best for the seller - do your best to meet them. Maybe you'll have to move in with your parents for a few weeks or move more quickly than you had hoped but remember - you'll be moving into the house you love. The temporary inconvenience will be quickly forgotten.
Contingencies - The typical offer contingencies are financing, inspection, and in the case of condominiums, satisfactory review of the condominium documents. You should have a letter of preapproval from your lender at the ready. Be aware that some buyers may very well drop any and all of their contingencies. You have to decide if you are comfortable eliminating any contingencies. Perhaps you have cash on hand from a previous sale or your parents will back you up and you're open to the idea of dropping a financing contingency. Or you had the chance to go through the property with an inspector prior to submitting your offer.
Everyone's situation will be different and everyone's risk tolerance varies as well. Decide what if any contingencies you're comfortable eliminating. And if you are including contingencies discuss with your agent how to minimize the impact - by tightening dates, increasing the dollar value of repairs you're willing to take on, etc.
Deposits - Expectations for deposit amounts vary in different states and regions. Talk to your agent about the norms in your area and consider increasing the deposit. Thist doesn't cost you anything since the deposit will go towards your down payment. From the sellers' perspective, however, it shows evidence of the seriousness of your offer.
Respect The Emotions Involved In Selling A Home
Don't forget that selling a home is often an emotional transaction. Honor that. The sellers want to feel good about passing on their home to its new caretakers.
Now is not the time for pointed questions or asking for repairs - though that time may come if you've allowed for an inspection. Remember - you're being compared with other buyers. Don't stand out as a pain in the neck - it's not to your advantage if you want the house.
Keep extraneous issues out of the offer. You're buying a house - not the furniture. Focus on the goal and talk about extras later.
And one no-cost but often very effective tool is a letter to the sellers. Write about who you are, why you love the house, and how you'll take good care of it. Mention any special things that stood out to you. If you can tell the sellers took good care of the house say so. If you like their decorating mention that. Sellers will often remember and remark about the letter weeks after receiving it.
Ultimately the seller wants the best price and the fewest hassles. And if they can feel good about the new caretakers of their family home all the better.
What Happens Next?
There aren't any rules for how the seller chooses an offer. You may get an opportunity to better your offer and resubmit at an agreed upon time. Or the seller may choose one of the offers on the spot. It's typically to your advantage to submit as strong an offer as possible in the first round. But it also might not a bad idea to have a small buffer so that you can increase your offer by a few thousand if given the chance. But remember - you might not get that chance. Plan accordingly and put your best foot forward.
Go For It!
Some buyers are tempted to walk away from a multiple offer situation without even making a bid. But if you've found the house you really want - give it your best shot. A multiple bid situation is not insurmountable. And you can't assume that you'll have to write a sky high offer to get your offer accepted. When I sold my first house, purchased in a bidding war during a down market, one of the first people at the open house was one of the other bidders from five years before. I never regretted buying that house and for him it was the one that got away. So - work with your agent, craft your bid, and know that you've done your best. And maybe, just maybe - you'll be the happy new owners. Good luck!
The City of Boston is sponsoring a homebuyers fair to match buyers with short sale and foreclosed properties available for sale in Boston, Massachusetts.
Buyers will be able to:
The homebuyer fair will be held on Saturday, February 28, 2009 from 10 am to 2:00 pm at the Perkins Community Center in the Lee School, 155 Talbot Avenue, Dorchester, MA.
For more information call 617-635-4663 or visit the Boston Home Center website.
Realtors with Boston REO or short-sale listings who would like to participate in the fair may contact Christine McCrorey at cmccrorey.dnd@cityofboston.gov for more information. Participating realtors should have experience working with REO listings (and current REO Boston listings) and experience working with first-time homebuyers.
I live and work in a hotbed of colleges and universities: Harvard, MIT, Cambridge College, and Lesley in Cambridge, Tufts in Medford, and Boston University, Simmons, Berklee College, Northeastern, and Emerson in Boston to name just some of them.
Colleges and universities are certainly good for business - newly hired professors, graduate students, and parents buying a place for their child to live in while attending school - all help to keep the real estate business moving and property values strong.
The schools also have a huge impact on quality of life. There's a liveliness to the streets and there are plenty of cafes, bars, funky shops, restaurants, and bookstores that stay in business because of the students. Accomplished and interesting people spend a portion of their lives in our cities to attend school.
The local colleges also offer an amazing array of lectures, events, and more - many open to the public and most at no cost.
Just yesterday a colleague called and asked if I was free. Turns out he had an extra ticket to attend a lecture by Tony Blair, the former Prime Minister of Great Britain, at Tufts. Half an hour later, we were seated (in the third row!) among an audience of 5000, to hear Blair speak about the Middle East. Actually, since Blair's arrival was delayed due to a heavy snowstorm in London, we first spent an hour or so talking about real estate websites while we waited.
With opportunities like these, I can't think of anywhere else I would rather live!
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Enthusiasm, dedication, and a passion for all things real estate. Serving buyers and sellers in Cambridge, Arlington, Belmont, Medford, Somerville, Watertown and nearby Massachusetts communities.
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