$1500 a month for your own waterview home in the Boston Area

Yes, this one is true, and a happier story to tell than the foreclosure scams in previous posts. We're VERY connected to this one - my favorite client has purchased this cute Cape in the neighborhood, and is bringing it back to its former glory.

The "neighborhood," by the way, is a tight knit, lakeside community in Framingham, MA

Check the mortgage calculator for details on the monthly payment - interesting numbers when average rent in the Boston area is $1875.

I've only posted the interior because the previous owner started turning it from red to gray, and only got halfway there.... keep your eyes out on this blog, and I'll update the pics when the exterior is done.

Auctioning the American Dream

We were keeping our eyes on this massive Real Estate Auction held at the Hynes last weekend. One of us attended, and were amused (?) by the proceedings. This Boston Globe article captures it nicely...

To review (see posts below), this is not an auction that a bank would conduct at the property soon after foreclosure. These showy auctions, part business, part entertainment, are designed to move homes that have NOT sold through standard auction, or regular listings through agents like me.

Should you buy a home at an Auction like this?

YES - if you look through the inventory being auctioned, and find a home you WANT. Inpect the home prior to the auction, and accept that there will be a considerable amount of work to be done. The newlywed noted in the article is a good example of this - she bid upon a home that she was familiar with on the street that she grew up on.

NO - if you are simply looking for a bargain. It's telling that the contractors attending the auction left quickly. These professional auctioneers were getting what we consider to be current market value for most of the homes auctioned.

Take a look at the auctioneer's site, as well - very interesting, and I give them much credit for doing a GREAT job at moving these homes.

Just $300 a month for a 4 bedroom, 2 bath home!!! Call Now!!

I am getting questions from some readers about the ads on TV and Radio hawking foreclosure property. (See my post below re: foreclosures to get some general background).

So I poked around a bit, and found that the rule is still true - if it seems too good to be true, it is.

Let's review:

There are a few ways that foreclosed property is sold:

1. Individual Auction (at the property) - usually listed in the local paper under Legal Notices
2. Auction Event (for a good example see USHome Auctions)
3. Through normal home sales channels like the MLS System/Realtor.com and a Real Estate Agent.

Banks and lenders give foreclosure listings to the people that sell homes for a living (Realtors and legitimate Auctioneers) in order to recoup the most money from their asset.

You NEVER need to pay for foreclosure listing information. There are 188,000 websites devoted to selling lists. And once they get your credit card info, you can be charged monthly, and it is difficult to cancel.

There is also a misconception regarding pricing. Make no mistake, banks and lenders are not "dumping" property through any of these sources. It is in their best interest to get the most money possible for the asset. It will be no cheaper to find it through a list seller online, than to speak to a Realtor, or attend a legitimate auction. Again, see my post below for pros and cons of auctions.

If you are interested in foreclosure business, speak to me, or your Real Estate Agent. We have access to all of these foreclosures, with clear titles, no tenants that refuse to leave, and information on condition of the property.

If it seems too good to be true, it is.

Why can't I get anything done???

Or at least that is what I USED to say, back in the bad old days. (Ok, as of 2 weeks ago).

In my former life, I was a huge consumer of motivational books, tapes, etc. My favorite is still Zig Ziglar - "How high does a tree grow? As high as it can!!" Seems cheesy now, but it hit the mark on my daily commutes into Boston. And I was younger, and not as cynical. Another of my favorites was Dr. Wayne Dyer, back when he had hair, but he's gotten New Age-ish silly, with shows on PBS ending with his daughter wailing songs like "The Rose" in the background.

But with less time to devote to more work, I just wasn't moving through the projects/accomplishments the way I need to, and that frustration does a number on your outlook.

Reading Wired magazine (that's another story - love it) and read a review of David Allen's Getting Things Done, then bought the book. It's just perfect for me right now.

There is much to his system, but I'm mainly using his tips on making lists a habit. The theory is, once it's on paper, or an easily accessed file in an organized fashion, it's off your mind until the appropriate time, and your brain is free to THINK, not worry over the details of your life. ("did I remember to call the insurance company/the client for Milford," etc)

He doesn't get too deep into the "follow your dreams" train of thought that I would have no patience for right now. ("Follow my dreams? How's about I follow myself out the door in time to pick up my kids so they're not giving me the evil eye at Pre-School?")

And it's working. I FEEL calmer, more organized. There's no less to do, but I feel focused in doing it.

Check with me in a week, let's see if it lasts.....