New Website for Buyers

The National Association of Realtors has launched a new website, www.HousingMarketFacts.com If you have a moment, peruse this website to learn about the benefits of owning a home. Interest rates are low - a great time to buy! Distinctive Realty also offers a home warranty which provides peace of mind for re-sale properties.

Happy Holidays

We should take a moment to step back and realize how fortunate we are. We all know there are economic challenges facing most of us each day, world struggles, global warming... am I depressing you? Just consider how fortunate we are to have a warm home, a loving family, a friendly neighbor, a happy child. This is a time for reflection and consideration to one another. May you enjoy a wonderful holiday season.

Cut-a-Thon at Rumors

The staff at Rumors Hair Salon, located at 500 Boston Post Road in Marlborough, MA has graciously donated their time towards a "Cut-a-Thon". Our community has joined together to help raise funds for Andra Manganaro (see previous post). A Day 4 Andre truly appreciates the efforts of the staff at Rumors and hope that many residents will visit their salon this Sunday - October 7th from 11am - 3pm.

Make a donation to A Day 4 Andre and receive a complimentary haircut, or mini-manicure, or chair massage. Again, October 7th from 11 am - 3 pm at Rumors Salon - 500 Boston Post Road, Marlborough, MA

Thank you in advance for your contributions. The entire Manganaro family appreciates your support of their son, Andre.

Something to Consider

It's frustrating when a seller is trying to sell their home yet there's little action. Sometimes reducing the price isn't the answer.



Check out the following article written by Jack Guttentag
from Boston.com website dated Aug 27, 2007

Typically, the first thing sellers think about doing to make their houses more marketable is reduce the price. Very often, that doesn't work, because the price is not the problem. If potential borrowers are cash-constrained or income-constrained, a price reduction provides very little help.

Here is an example. Jones has her house listed at $200,000, and lenders will lend 95 percent of that at 6.5 percent on a 30-year fixed-rate mortgage to a borrower with adequate income and good credit. The cash-constrained borrower, however, can't come up with the $14,000 in required cash, consisting of a $10,000 down payment plus (say) settlement costs of $4,000.

If Jones cuts the sale price by 7.5 percent, or $15,000, the cash required from the borrower drops from $14,000 to $12,950, or by a measly $1,050. (These and other numbers below can be found in a spreadsheet on my Web site). For this potential buyer, it makes far more sense for Jones to pay the $4,000 in settlement costs, which reduces required cash by $4,000.

A Day for Andre

Michael Manganaro is a realtor at Distinctive Realty, who has recently suffered a terrible tragedy. On June 29th, Michael was picking up his 10 year old son Andre from camp, when he was struck by an out of control car in Stow, MA. After being life flighted to UMASS, it was determined that Andre had suffered severe head injuries. He was put in a medically induced coma for 3 weeks, and is now in Spaulding Rehabilitation Center with a very long road ahead of him. Michael is a father of five children ranging in age of 2 to 16. Both Michael and his wife Joanne will be spending all their time with Andre to support him as he learns to speak, walk and do all the things a 10 year old boy should be able to do. A fundraiser "A Day For Andre" will be held on October 14, 2007. Here is your chance to help. Your donation and attendance would be greatly appreciated. Visit http://www.aday4andre.org/ for event details. On behalf of the Manganaro family, thank your for your consideration and help.