Scott Strang

If you were the asset manager for the Lawrence MA bank owned multi family I showed today that is what you would be saying.

I entered and mentioned to my client, "Oh they tore into the ceiling they must have had a leak." We, then moved on to the bathroom and saw the wall of the tub plumbing entirely ripped out. We then looked at each-other and laughed. Some crack head had ripped out ever piece of copper in the house. Now, this required some serious demolition work. Not sure why the crack head would not just get a demolition job ??? You could pull down enough money to buy some crack doing that. Same effort, just legit work. God forbid legit work for a crack head. I will be honest, there could be $1000 worth of copper in the walls you couldn't pay me $1000 just for labor to put this kind of effort in retrieve ing the copper.

I have never seen this. I do show multi families in sometimes tough areas but never seen that. There are so many ways to measure the economy, strength of the dollar, inflation, exports, imports, stock market data, housing prices, interest rates ect ect but honestly how about the "copper stolen out of walls for crack index???"

http://www.lowellsun.com/ci_11030737?IADID=Search-www.lowellsun.com-www.lowellsun.com

(The lowell sun article)

http://extras.mnginteractive.com/live/media/site105/2008/1120/20081120_102116_11-20%20mortgage.pdf

(This link contains data from various towns and zip code in the greater lowell area)

This is an interesting article from the Lowell Sun. It talks about homes that were bought in the past 5 years. It says 1 in 5 homeowners are underwater that bought in the past 5 years.

Over the past 7-10 years there is appreciation. In some segments we are at 04 levels and in others we are at 2002 or 2003 levels for pricing. You really can't lump all the data in like that and get and accurate reading. You also have to consider from 1999-2004 many people had the benefit of doubling values. This is not normal appreciation. You can not just focus on the negative.

A home is not a stock that is day traded nor should not be viewed as one. It only matters when you are trying to sell it. Unless you have to sell do it is a monthly payment for a roof over your head wih a tax benefit you would not get renting.

I feel this is another negative media article that is scaring people not to buy. The facts are simple, there has never been a better time to buy. Rates around 6.0% and a ton of options for any buyer. We have never seen his combination of good rates and prices. Would you rather buy at historic highs (2003-2005).....or would you rather buy now and do nothing but go up??? Long term, Real Estate is still a great investment. If the article showed the past 10 years virtually every segment you would have shown positive appreciation numbers.

There is plenty of money to lend for qualified buyers. FHA loans are a great for buyers only requiring 3.5% down, not to mention the tax credit of 7500.00

Worried about a job and a recession??? An average real estate transaction employees 26 people. That is great for the economy. 2 Realtors, an appraiser, title examiner, attorney, home inspector, underwriter, rasfer tax stamps to the state, not to mention you shopping at home depot and so on. There is nothing more stimulating to the economy that a home sale. Fixing the economy starts here with home sales.

October 2008 show some great activity at the lake posting 2 home sales. The details are listed below. Please contact me if you have any questions regarding property on this lake. If you own there and would like a market analysis or if you are just curious I would love to help.

My current Pawtuckaway Lake listing www.24beachheadroad.com

Residential 2737544 Closed 103 Lakeview Drive Nottingham, New Hampshire 03290 L$499,000 C$491,000
	Style: 1 Story , Raised Ranch Rooms: 5 Year Built: 1988 Bedrooms: 2 Color: brown Total Baths: 2 Taxes: $ 7,093.00 Full: 1 Taxes TBD: No 3/4 Baths: 1 Tax Year: 2007 1/2 Baths: 0 Monthly Assoc.$: $ Garage Capacity: 2 Lot Acre: .45 Garage Type: Detached Lot SqFt: 19,602 Total Fin SqFt: 1,624 Road Frontage: Apx Fin Above Grd: 1,624 Water Frontage: 150 Apx Fin Below Grd: 0 Water Acc Type: Owned Foot Print: 27x30 Zoning: Res
Water Body Type: Lake Water Body Restri.: Surveyed: Unknown Seasonal: No Water Body Name: Pawtuckaway Current/Land Use: Flood Zone: Unknown
Public Rems: Views of the Lake & State Park across the water. Private on a quiet, no wake cove.Town Maintained Road. Raised Ranch with 2 lrg Bdrooms. Deck on the water for relaxing. Screen Porch attached for 3 Seasons. 2 Docks! Sandy Beach! 2 Car Garage connected to the home via portico. Lovely Gardens, Very Well Maintained. Priced to Sell.

Residential 2686800 Closed 46 Barderry Lane Nottingham, New Hampshire 03290 L$599,900 C$577,000
	Style: 2 Story , Cape Rooms: 6 Year Built: 1986 Bedrooms: 3 Color: Total Baths: 2 Taxes: $ 7,176.00 Full: 1 Taxes TBD: 3/4 Baths: 0 Tax Year: 2006 1/2 Baths: 1 Monthly Assoc.$: $ Garage Capacity: 0 Lot Acre: .41 Garage Type: None Lot SqFt: 17,860 Total Fin SqFt: 1,604 Road Frontage: Apx Fin Above Grd: 1,604 Water Frontage: 240 Apx Fin Below Grd: 0 Water Acc Type: Owned Foot Print: 28 x 32 Zoning: Residential
Water Body Type: Lake Water Body Restri.: Surveyed: Yes Seasonal: No Water Body Name: Pawtuckaway Current/Land Use: No Flood Zone: Unknown
Public Rems: Serene setting on Pawtuckaway lake. Well built post and beam cape with Open living and dinning area with panoramic views of the lake. Open Kitchen and Private office on the first floor. Wrap around farmers porch leads to a 3 season room perfect for total enjoyment of this beautiful setting with great water front dock and sandy beach.

Start Date: 10-01-2008
End Date: 10-31-2008
Towns: Tyngsborough

Property Type(s): Condos
Status: Sold
Start Date: 10-01-2008
End Date: 10-31-2008
Towns: Tyngsborough