2011 was an interesting year in real estate in many respects. From my perspective, most of the sales I had in 2011 reflect a pattern that may continue into 2012.

Throughout the year, I had the pleasure of helping both Buyers and Sellers - each is special, each had specific dreams, each had specific needs, and some had to work through incredible adversity.

As I helped them, it became increasingly clear that there is a common thread in the market place. For the most part, the properties that are on the market are homes that are in a short sale position, are facing foreclosure, are dealing with the issues of a divorce, or have been inherited due to a family member’s passing.

From my recent experience, those who face a short sale are hard-working people who dreamed of home ownership and then found themselves unemployed, were unable to sustain the mortgage payments, and were unable to refinance because the market value of the home had declined. And what is little known in the market place is this: I can speak to those homeowners who took their responsibility seriously and struggled to make payments against all odds for long periods of time before they came to the realization that they could no longer sustain increasing debt.

On the other side of the coin, the market place provided opportunities for the Buyers who were qualified to buy – first-time buyers, investors with cash, and relocating families.

On the supply and demand side of the real estate market, there is very little new construction available, and I sense that there is a growing demand. Those developers and builders who have projects under way or are in the process of readiness are well-poised to capture that market.

From a business perspective, I analyze the real estate market at the end of each year, recognizing that all real estate is “local”. As I review the data provided by MLS-PIN regarding single-family homes sold in Plymouth County, MA and compare the first half of 2011 with the second half, there appear to be several stabilizing trends. Those stabilizing trends include: the number of single-family homes sold increased by 19%; the number of days on the market decreased by 8%; and the average sale price stayed somewhat steady.

While these are indicators of positive trends, real estate is always in flux due to local, economic, and environmental factors that impact it, and it would be foolhardy to predict the future. However, all in all, I anticipate that Buyers will continue to take advantage of low mortgage rates and opportunities that the market provides.

I’m also optimistic that the stabilizing trends in Plymouth County – an increase of the number of homes sold, the decrease in the number of days on the market, and steady pricing – will continue into 2012. Certainly, there will be bumps along the way, but the promising trend for 2012 appears to be “slow and steady"!

This story warmed my heart - here's the true meaning of Christmas!

At Kmart stores across the country, Santa got some help this year. Anonymous donors paid off strangers' layaway accounts, buying Christmas gifts other families couldn't afford.

The benefactors generally asked to help families who were squirreling away toys and children's clothes. They often paid a portion of the balance, usually all but a few dollars or cents so the layaway order stayed in the store's system.

"It is honestly being driven by people wanting to do a good deed at this time of the year," said the Kmart V.P. of layaway.

"You know, 50 bucks may not sound like a lot, but I tell you what, at the right time, it may as well be a million dollars for some people," said the assistant manager of one store.

Isn't it heartening to know that the true spirit of Christmas has infected so many people, despite our difficult economic times?!

Click here for the full story.

How much do you think you know about mortgages? Take this quiz to find out!

Price Grabber (for iPhone, iPad, and Android)

Developed by Pricegrabber.com, a leading website for online comparison shopping, these apps allow you to scan barcodes, compare products, read reviews, and create a "favorites list" all from the palm of your hand.

SnapTell  (for iPhone and Android)

ShopSavvy (for iPhone, Android, Windows Phone 7, and BlackBerry)

RedLaser (for iPhone and Android)   

RedLaser compares product prices using TheFind.com, Google Product Search, eBay, and Half.com and finds stores that carry the item. However, the app offers more than just product comparisons. Book lovers can use it to locate books in their local libraries or online; gamers and electronics afficionados have instant access to product reviews; and people with allergies and special dietary needs can view allergy and nutritional facts about food products. If you can't find the barcode, RedLaser also accepts UPC and EAN codes.

Amazon Mobile (for iPhone, Android, and BlackBerry)

The Amazon app gives you access to products on Amazon and other merchants. In addition to accessing existing Amazon account settings, you can also create a visual list of products through Amazon Remembers. The app searches for similar products using the photos on the list.

* Source of statistics: Experian

©2011 Buffini & Company. All rights reserved. Used by permission.

LGK NOVEMBER E-REPORTS

How to avoid overpricing mistakes

"We can always go down, but we can't go up."

Have you ever heard or said that?

Most experts would advise that the best way to increase your odds of a successful sale is to price your home at fair market value. But for many sellers, it's still tempting to tack a few percentage points onto the price to "leave room to negotiate".

Here are some tips on how to avoid common overpricing mistakes by staying away from the seven deadly sins of overpricing:

1. Appraisal Problems If your home won't appraise for the purchase price, the sale will likely fail.

2. No Showings If your home is overpriced, today's sophisticated home buyers won't bother looking at it, let alone make you an offer.

3. Branding Problems If your home is branded as "overpriced", reigniting interest may take drastic measures.

4. Selling the Competition Overpricing helps your competition by making their lower prices seem like bargains. 

5. Stagnation The longer your home sits on the market, the more likely it is to become stigmatized or stale. 

6. Tougher Negotiations Buyers who do view your home may negotiate harder because the home has been on the market for a longer period of time and because it is overpriced compared to the competition.

7. Lost OpportunitiesYou will lose a percentage of buyers who are looking in the price range that the home will eventually sell for but don't see the home because the price is currently above their pre-set budget.

Click here to read the original article on Trulia.com.

Expanding the Spaces a Family Really Uses, More Practical Doesn't Have to Mean Smaller

A recent Wall Street Journal article discussed the imprint our ailing economy is having on home design. Just as the housing boom stamped a distinctive "McMansion" style on neighborhoods, tougher recent years are causing a shift to more practical features in new construction and remodeling, rather than the aspirational.

Rather than formal living and dining rooms, two-story foyers, and second staircases, families are opting for more space for shoes and sports equipment, schoolwork and textbooks, wrapping paper, and scrapbooking supplies - and in some cases, even an elevator shaft for grandparents.

Here are some of the fading features, and the new designs that are replacing them:

THEN: Grand Foyers
NOW: 'Drop Zones'

Today, double-story entrance foyers with cathedral ceilings are seen as a waste of space and energy-efficient. Instead, a so-called drop zone is becoming popular. Bigger versions of mud rooms, these are places to unload clutter before it's deposited throughout the house. They are often built into hall closets or basement walls, and can feature baskets for mail, hooks for backpacks and coats, and storage for shoes and winter wear.

THEN: Formal Living Rooms
NOW: Open Family Rooms

These days, there's no need for the separate great room, a cavernous bonus room for the piano or wicker furniture. Home owners are comfortable with having their great room serve three functions: kitchen, family room, and dining area. They separate spaces more with furniture than with walls.

THEN: Second Staircase
NOW: Room for Elevator

In the past, a spiral staircase out front with a secondary staircase off the family room or kitchen was common. But as more homeowners plan to grow old in their homes, they're realizing they won't want to climb stairs as they age. So they're asking builders to put a bathroom and full bath on the ground floor, or in some cases, install an elevator shaft.

THEN: Dad's Office
NOW: 'Lifestyle Center'

Mobile technology allows work to be done all over the house nowadays.  Many homeowners are opting for a 'lifestyle center' - a multifunctional room off the kitchen where parents can work from home, students can print school assignments, and family members can do crafts and wrap presents.

THEN: Soaker Tubs
NOW: Steam Showers

Jacuzzis are becoming a thing of the past, as they were rarely used according to many. Instead, bigger shower stalls are being installed, allowing men and women to shave comfortably and steam their pores. Lights and music can be added. If people still want tubs, they are going for the gentler hydrotherapy bubblers rather than strong water jets, or are installing tubs with walls that can be lowered, allowing elderly bathers to easily enter and exit.

THEN: Breakfast Nook
NOW: Outdoor Living Space 

As the kitchen has opened up into a dining area, there's less of a need for a separate small table just for breakfast. Instead, builders are installing sliding glass doors at the back of homes to extend the living space from indoors to outdoors. Patios and fire pits out back can make the home seem bigger.

Click here for the full article.

A mortgage is often the largest debt that one undertakes and as a result, many homeowners look to pay it off as soon as they can. In addition to reducing overall debt, paying off your mortgage early enables you to purchase a second home or investment property. Try one of these strategies to reduce your mortgage principal:

• Make bi-weekly mortgage payments

Bi-weekly payments involve 26 half-payments each year instead of the standard 12 full payments. By making 13 full payments each year, you’ll pay down the principal sooner and reduce the amount of interest you’ll pay over the long run.

• Increase your mortgage payment

You can also increase the amount you pay towards the principal of the payment each month. Most people have higher incomes a few years into their mortgage than they did when they first took it out. Keeping your payment on par with your increases in income will help reduce your mortgage amount significantly and may also reduce the amount of your monthly payment over time.

• Make additional payments

If bi-weekly payments or increasing your monthly mortgage payment are not feasible, try to make extra payments when you can. If you have extra money at the end of the year, put it toward your principal.

• Refinance with a shorter-term mortgage

If you have a 30-year mortgage, you can refinance the loan for 10, 15 or 20 years. While the payments will be higher each month, you’ll be able to pay the loan off much sooner.

©2011 Buffini & Company. All rights reserved. Used by permission. LGK OCTOBER E-REPORTS

$235,000 - Click here for Virtual Tour

 Click here to view additional photos and listing details.

 Click above to view the virtual tour. 

I have a new listing to share with you: 1000 Pleasant Street, Unit #4 in Weymouth.

It used to be: Location! Location! Location!. Then, it was Price! Price! Price! Here you have both: Location and Price!

Well-priced, 2-bedroom, 1,212SF townhouse in desirable Pinebrook East; proximity to Boston and a hub to all areas of the South Shore. Pride of ownership and loving care.

• Eat-in kitchen with pass-through to formal dining

• Formal living room with sliders to 12'x11' deck

• First-floor powder room

• Finished play room in the partially-finished basement.

• Fenced-in yard.

Move right in!

$235,000 - Click here for Virtual Tour

Click here to view additional photos and listing details.

I’m excited to repeat the successful “Take the Guesswork Out of Home Buying” Workshop on Saturday, November 5, 2011 from 10:15 – 11:30 am in Norwell. 

If you missed previous ones, no worries – come to this one. And… if you have friends or relatives who might be interested, please forward this invitation to them through e-mail, Facebook, or your favorite social media channel!

Registration is required, and seating is limited. So sign up and make Saturday morning your wake-up to all the best in real estate. Bring your questions…we’ll have the coffee!

For more details, go to www.freefirsttimehomebuyerworkshop.com.