Mary Beth Grasso

We are going to learn about the Buyer 1% tax on purchases! Will fill you in as the day progresses.

Thanks President Obama for the $8000, I mean $7200 credit for first time buyers! Just how close is Massachusetts or New York or even New Jersey for that matter? Can I commute from there to work in Stamford?

CT has created Bill #6397 which is to tax buyers 1% and it is scheduled to go into effect July 1, 2009. Our sellers have a hard enough time understanding the conveyance tax...now a buyer purchase tax...for waterfront land, brownfields, and conservation? There are other restrictions but, the idea is clear...money needed and buyers are a nice target!

I just keep thinking of my credit perfect client that didn't have much of a down payment (they produced 5% and took out 2 mortgages as recently as 2/14/09) At least he had a little money after the closing to have the kitchen carpet (25 yrs old!) pulled up so he could lay square vinyl pieces. If a bill like this becomes law, it will be harder and harder for buyers like him to buy...stimulus money or not!

Please get in touch with your elected officials and let them know we need to educate buyers about the benefits of "home ownership" in CT especially!

Our businesses have changed so much in the last few years it is mind boggling sometimes. There are 5 very iimportant numbers we need to educate our clients about which will affect the successful sale of their home. The number of home sales recently; the sales prices; the inventory; mortgage rates and affordability. If we appeal to their sense of logic and intelligence in this market (wrap it up nicely in your presentation face) you will surely impress. The last nugget comes into play with Location, Location, Location! This is what they need you for. You are the neighborhood expert and trending specialist. Start with the five though and you will win them over. Our clients are looking for someone to make heads and tails of everything they hear elsewhere!

Today I had the priveledge of having a transaction go South. I usually am a glass half full kind of girl but today my glass seemed especially full.

I live in CT and drove up to Massachusetts to drive my mom to Dana Farber Cancer Institute for her monthly chemo treatment for ovarian cancer. This is because she fell and broker her hip 12 days ago and can't drive herself. As we entered the waiting area, she wanted me to look across the street at the new building that will house more space for DFCI (Dana Farber Cancer Institute) docs and patients. As I looked across (I am always interested in new construction...aren't all REALTORs?) the street I could see the huge steel beams that will eventually become the foundation, structure and integrity of that building of hope. On each beam...there are names of boys and girls that are undergoing treatment for childhood cancers. They are all in neon green, pink, yello and orange...the really bright colors. My mom told me the kids get to watch as a lift heads up to write the name...so they can see it while they are getting their treatment.

As we were driving home, our attorney called to tell me contracts weren't going to be coming back for one of the condos in a development I represent. The buyer is too nervous to be "first" and is "concerned about the builder in this market" etc. etc. etc. I thanked her and said, obviously it wasn't meant to be. I'll just have to go find another buyer! If I had received that call yesterday, my "view" might not have been as neon colored as it should be every single day! So make it great, make it yours and be accountable for every minute...whether it is with family, clients, colleagues or friends.

Today in beautiful 60 degree weather, I got to take out a lovely young couple. They are engaged to wed in August...so in love...so young and innocent. So excited that they were getting to view homes as he works traditional hours and she works every other weekend. So...after a buyer counseling session that ended with her asking me the question, Mary Beth, "friends of ours, like us, have told us that this experience, of buying a house...at the end of the day...you are just depressed. Are we going to be depressed?" I thought long and hard as they are in the lower end of the first time buyer market. The inventory has somewhat slim pickins. So, I sat for a minute and looked them both in the eyes and said, "it is not about the house. It is about the dream you both have of living together and creating a life for you and your family. This market isn't for wimps. It is going to be hard work. The first thing I need you to do is widen your filters regarding what you think you must have in a home. Have no expectations for any of the properties you might see today. I couldn't have planned what happened in the second home. There was a nice young couple, with their dad and their REALTOR...looking at the same house. I offered to wait outside and they insisted we come in while they were there. They were oozing remarks that would make any builder blush...high quality craftsmanship, beautiful tile choices and more. As we left, they said, "See you at the next house!" The excitement in the Spring market needs to be contagious! Go make it happen...these buyers want to buy.