“With over 35 years of proven success as local market leaders, Laurie Cadigan and her team have high levels of experience and community knowledge,” said Philip White, president and chief executive officer, Sotheby’s International Realty Affiliates LLC. “Their commitment to client service and support is unparalleled, as is their focus on providing guidance with a consultative approach.”

According to Cadigan, her team prides itself on their in-depth market and community knowledge. “The availability of our onsite owner, marketing department, social media team and relocation director are unique in our market area,” she said. “Our custom marketing plans, programs and collateral for each property help bring our seller clients maximum exposure and results for their real estate goals. We are proud to represent the Boston suburban towns with some of the finest school systems and highest property values, and look forward to the added exposure and support this brand will bring. With its global reach, the Sotheby’s International Realty brand will help us connect with consumers from all over the world.”

The Sotheby’s International Realty® network currently has more than 13,000 sales associates located in approximately 660 offices in 49 countries and territories worldwide. Barrett Sotheby’s International Realty listings will be marketed on the http://sothebysrealty.com global website. In addition to the referral opportunities and widened exposure generated from this source, the firm’s brokers and clients will benefit from an association with the Sotheby’s auction house and worldwide Sotheby’s International Realty marketing programs. Each office is independently owned and operated.

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This recent article from reuters.com has 8 tips to consider to help get the highest appraisal possible.

When Kellie and Michael May decided to refinance their home in the New York suburbs, they wanted to take advantage of historically low interest rates. But before landing a new 30-year fixed-rate mortgage, they had to get through a home appraisal.

“It was a major stumbling block,” says Kellie May, who has owned the 4-bedroom, 3-bath colonial for seven years. Not that she and her husband were unprepared; they’d been through an appraisal for another refinance in 2010, so they knew to point out improvements they’d made to the 3,400 square foot home, and supply prices for other neighborhood properties that had sold recently.

But the appraisal came back roughly $70,000 less than the $1,230,000 the Mays were expecting, and too low to support their new loan.

They responded with a paperwork arsenal aimed at their lender, asserting that the appraisal had been based on faulty recent sales data. The loan squeaked through, after the bank crafted an exception for the Mays. It was able to do that because their loan was a jumbo loan, not subject to the more rigid underwriting standards they would have encountered if it were a conventional loan aimed at secondary buyers like Fannie Mae and Freddie Mac.

Low appraisals are becoming a bigger problem for many would-be buyers and refinancers as home values have started to stabilize and rise in some markets.

In Leesburg, Florida, for example, low appraisals have caused the cancellation of as many as 15 percent of home sales for local real estate broker Gus Grizzard.

“We are seeing higher price appreciation and are starting to run into appraisal problems,” said Charlie Young, chief executive officer of ERA Franchise Systems, a firm with a national network of real estate brokerage offices, including Grizzard’s. The National Association of Realtors reported on Tuesday that inventories of homes were low and the median price a home resale was, at $180,800 in December, up 11.5 percent in a year.

Appraisals are based on recent sales prices of comparable properties. And in rising price markets, those sales prices might not be high enough to support the newest deals. Young said there were many places in California reporting appraisal problems.

On Friday, the federal government issued new rules aimed at improving the appraisal process as it pertains to high-interest mortgages on rapidly appreciating homes.

But those rules don’t go into effect for a year, and don’t apply to most conventional loans. It pays to protect your own loan before the bank even thinks about sending that guy with the clipboard over to your house.

“The reality is that the appraiser is only there for 30 minutes at most,” says Brian Coester, chief executive of CoesterVMS, a nationwide appraisal management company based in Rockville, Maryland. “The best thing a homeowner can do to get the highest appraisal possible is make sure they have all the important features of the home readily available for the appraiser.”

Here are eight ways you can bolster your appraisal:

MAKE SURE APPRAISER KNOWS YOUR NEIGHBORHOOD
Is the appraiser from within a 10-mile radius of your property? “This is one of the first questions you should ask the appraiser,” says Ben Salem, a real estate agent with Rodeo Realty in Beverly Hills, California.

He recalled a recent case where an appraiser visited an unfamiliar property in nearby Orange County and produced an appraisal that Salem said was $150,000 off. “If the appraiser doesn’t know the area intimately, chances are the appraisal will not come back close to what a property is really worth.”

You can request that your lender send a local appraiser; if that still doesn’t happen, supply as much information as you can about the quality of your neighborhood.

PROVIDE YOUR OWN COMPARABLES
Provide your appraiser with at least three solid and well-priced comparable properties. You will save her some work, and insure that she is getting price information from homes that really are similar to yours.

Websites including Realtor.com, Zillow and Trulia offer recent sales prices and details such as the number of bedrooms and bathrooms in a home.

KNOW WHAT ADDS THE MOST VALUE
If you’re going to do minor renovations, start with your kitchen and bathrooms, says G. Stacy Sirmans, a professor of real estate at Florida State University. He reviewed 150 variables that affect home values for a study sponsored by the National Association of Realtors. Wood floors, landscaping and an enclosed garage can also drive up appraisals.

DOCUMENT YOUR FIX-UPS
If you’ve put money into the house, prove it, says Salem.

“Before-and-after photos, along with a well-defined spreadsheet of what was spent on each renovation, should persuade an appraiser to turn in a number that far exceeds what he or she first called out.”

Don’t forget to highlight all-important structural improvements to electrical systems, heating and cooling systems – which are harder to see, but can dramatically boost an appraisal. Show receipts.

TALK UP YOUR TOWN
If your town has recently seen exciting developments, such as upscale restaurants, museums, parks or other amenities, make sure your appraiser knows about them, says Craig Silverman, principal and chief appraiser at Silverman & Co. in Newtown, Pennsylvania.

DISTINGUISH BETWEEN UPSTAIRS AND DOWNSTAIRS
Many homeowners covet that refinished basement, but that doesn’t mean appraisers look at it the same way. “Improvements and additions made below grade, such as a finished basement, do not add to the overall square footage of your house,” says John Walsh, president of Total Mortgage Services in New York. “So they don’t add anywhere near as much value as improvements made above grade.”

According to Remodeling magazine, a basement renovation that cost $63,000 in 2011-12 will recoup roughly 66 percent of that in added home value. That’s not as good as an attic bedroom, which will recoup 73 percent of its cost. Even similar bedrooms typically count for more if they are upstairs instead of downstairs.

CLEAN UP
Even jaded appraisers can be swayed by a good looking yard. “Tree trimming, cleaning up, a few flowers in the flower beds and paint touch up can all help the appraisal,” says Agnes Huff, a real estate investor based in Los Angeles.

That advice holds true indoors, too. “Get rid of all the clutter in your home,” says Jonathan Miller, a longtime appraiser in New York. “It makes the home appear larger.”

GIVE THE APPRAISER SOME SPACE
Don’t follow the appraiser around like a puppy. “I can’t tell you how many homeowners or listing agents follow me around in my personal space during the inspection,” he says. “It’s a major red flag there is a problem with the home.”

And while you’re at it, make the appraiser’s job as pleasant as possible by giving your home a pleasant smell. At a minimum, clean out the litter box. Baking some fresh cookies and offering him one or two probably won’t sway your appraisal, nor should it. But it couldn’t hurt.

(Source: www.reuters.com by Lou Carlozo. The writer is a Reuters contributor. The opinions expressed are his own.)

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Buyer Walkthrough

Lexington, MA Market Snapshot

90-day stats for Single Family properties in LEXINGTON, MA as of May 17, 2013
Median List Price:	$1,025,988	Average List Price:	$1,142,795
Total Inventory:	106	Price per Square Foot:	$331
Average Home Size:	3,247	Median Lot Size:	16,620
Average # Beds:	4.37	Average # Baths:	3.36
Homes Absorbed:	11	Newly Listed:	15
Days on Market:	95	Average Age:	0

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121 Mattison Drive, Concord, Massachusetts

Concord, MA Market Snapshot

90-day stats for Single Family properties in CONCORD, MA as of May 17, 2013
Median List Price:	$1,185,058	Average List Price:	$1,561,200
Total Inventory:	90	Price per Square Foot:	$329
Average Home Size:	3,628	Median Lot Size:	42,622
Average # Beds:	4.33	Average # Baths:	3.60
Homes Absorbed:	7	Newly Listed:	8
Days on Market:	132	Average Age:	0

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Cadigan admitted that the whole process of deciding where to move, preparing your house for sale, and then actually making the move was “one of the hardest things I’ve done aside from childbirth.” But she outlined the process, breaking it down into manageable steps:

1. Where do you want to move? Downsizing means many different things to different people. People move for financial reasons, to pay for college, to simplify their lifestyle. And downsizing isn’t just moving to a condo from a single-family home. Many people choose to stay in their community but elect to live in a smaller house. Once you decide on an area or neighborhood, get a feel for the housing stock and what you can get for your money. Barrett & Company offers a daily personalized email service where you can see all the new Massachusetts real estate listings that meet your specific criteria of house size, location, price, number of bedrooms, etc.
2. Who are you bringing? Downsizing is not only for empty nesters. Cadigan and her husband are sharing their new condo with an adult child who is saving money for her own place. They also brought their Golden Retriever along. Cadigan advised, “Look into condo rules and restrictions about pets or even visitors. Some retirement communities limit the amount of time that visitors under age 55 can stay.”
3. What are your finances? It is critical to understand your finances and talk them over with a financial advisor. This is particularly true for people who may not have bought or sold a property in many years. The mortgage process has changed. For example, people remember bridge loans, which are no longer offered by banks. Some retirement communities also have requirements about the makeup of your financial portfolio.

Finding a place and financing a place are the big decisions. Then downsizers are faced with a million small decisions in order to actually make a move. Cadigan and her family faced a household made up of 30 years of accumulated stuff where every item’s fate had to be decided upon. And that went for the kids’ stuff too. “I applied tough love for my children,” Cadigan said. Each child got to fill two plastic bins worth of possessions that she would store for them at her new condo. If they wanted to keep anything else, including furniture for future apartments or homes, they had to take it with them or pay to store it themselves.

Then she got to work staging her home for sale. “Staging is about making things look airy, clean, and neutral. A potential buyer wants to come in and imagine his or her possessions in the house, not be fixated on your decorating style,” says Cadigan. Seminar attendees got to see some great before and after photos of Cadigan’s home. Her before slides showed flowered wallpaper and custom draperies in the dining room. Personally, I thought it was charming but I saw her point that I wouldn’t know if the person sitting next to me in the audience thought the same thing.

The after picture showed the dining room sans china cabinet, with walls painted a neutral off-white, and the windows bare but clean, with sunlight streaming in. “Believe me it broke my heart to strip down my home,” said Cadigan. “No one lives like this. But that is not the point of staging. It’s about stepping aside and letting the buyer imagine living there.”

LeBlanc said the first thing that people who are downsizing should do is draw a floor plan of their new space. Then draw in the furniture that you think you want to bring. “People either think none of their furniture will fit or they think everything will fit,the floor plan doesn’t lie,” said LeBlanc. Having a real sense of what you will bring will also help when you get an estimate from the moving company.

Then it is time to sell, donate, or dispose of what you don’t want to bring. LeBlanc offered great advice about disposing of trash. If you disciplined yourself to throw out two bags of trash each week for a year, you would have gotten rid of the equivalent of a 30-yard dumpster. She warned that dumpsters cost $1,800 to rent, fill and dispose of the contents. Most houses require two!

She also brought realistic expectations to people’s ideas of selling their furniture. The bad news is that most furniture brings 10% of its original purchase price. For those who want to sell, she recommends consignment shops, which take 40-50% of the sale. She does not recommend Craigslist for older people because of the security risk of inviting the general public to where you live.

Household Goods Recycling of Massachusetts (HGRM) in Acton was recommended as a great place to donate furniture, including mattresses and box springs in good condition. Charities that offer pickup services also are good but may not take everything. “The lesson is to plan ahead on your donations,” LeBlanc said, “you don’t want to have a driveway full of stuff that the charity refused to take the day before your closing.”

Auction houses have become more accepting in the last few years as to what they will take into an auction. Don’t put too high of a reserve on a piece. If it doesn’t sell because the bidding did not make the reserve, you will be charged 10% of the reserve price and get the piece back—and that is not the goal.

Antiques dealers want to get things for as little as they can so they can make a profit. On the other hand, by buying your piece outright, they are taking on all the costs associated with moving it, and storing it and the risk that it may never sell. If you want to sell to a dealer, invite three to bid and compare their offers.

My personal takeaway lessons from this seminar, even though I plan to stay in my home for many more years:

• Declutter now or you will pay the piper later.
• Furniture is not the investment that I thought it was. So I guess I won’t feel so bad that my cat scratched my couch.
• When it does come time to move, there are experts to help you. From experienced real-estate agents, to professional organizers, to financial advisors, no one has to handle this all alone.

Cadigan summed it up: “Downsizing is a massive undertaking that can feel uphill at times. But the result for many people is worth it. We love our new lifestyle. I love having only the things that really matter around me. I love having a closet with only the clothes that I really wear. Downsizing has made us feel freer and younger.”

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Buyer Walkthrough

Additional Listing Information and Photos

16 Captain Miles Lane, Concord, Massachusetts

Concord, MA Market Snapshot

90-day stats for Single Family properties in CONCORD, MA as of May 17, 2013
Median List Price:	$1,185,058	Average List Price:	$1,561,200
Total Inventory:	90	Price per Square Foot:	$329
Average Home Size:	3,628	Median Lot Size:	42,622
Average # Beds:	4.33	Average # Baths:	3.60
Homes Absorbed:	7	Newly Listed:	8
Days on Market:	132	Average Age:	0

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Every aspect of the site, www.barrettandco.com, was reviewed to ensure exacting standards were met in six key areas, ranging from design and content to human interactivity to search engine optimization. The WQC was introduced in 2009 to recognize and encourage superior websites among Leading Real Estate Companies of the World’s 550 member firms.

“With so many people going online to obtain information on homes, communities and everything relating to home buying and selling, it is vital for a real estate firm to have a current, easy-to-use and relevant website,” notes Pam O’Connor, president/CEO of Leading Real Estate Companies of the World^®. “By earning the Website Quality Certification, Barrett & Company has demonstrated that it offers fundamental online resources to home buyers and sellers, which are further supported by the expertise only a dedicated real estate professional can provide.”     

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Elaine Sweeney holds a degree in Business Administration from Ithaca College and has, since 1990, been practicing real estate in Massachusetts, Rhode Island, and Maine. Her previous employment includes serving on the President’s Advisory Committee on Technology in Washington, D.C. under President H.W. Bush and, again, under President Bill Clinton. Since 2003, Sweeney has been an active member, in good standing, with the Weston/Wayland Rotary Club where she has served as Vice President, President Elect, and President.

Rita Schulz is a graduate of Connecticut College and harvested her experience of real estate while employed with Algonquin Gas Transmission Co. (AGT). While at AGT, she obtained her real estate broker license in 1977 and worked with state and local governments as an AGT agent in land acquisition. In 2002, looking for a new prospects, Schulz began a career in local residential real estate working for a brokerage in Needham. Since 2004 Schulz has been a member, in good standing, of the Weston/Wayland Rotary Club where she has served as Vice President and President.

Both Sweeney and Schulz, in regards to the acquisition, “are thrilled to be associated with this wonderful firm.”

Laurie Cadigan, President of Barrett & Company, is “very pleased to be able to add the expertise of Sweeney and Schulz to the Barrett team. Their knowledge and experience in Wayland and the surrounding areas will be a real asset to the company.”

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Buyer Walkthrough

Additional Listing Information and Photos

163 Lindsay Pond Road, Concord, Massachusetts

Concord, MA Market Snapshot

90-day stats for Single Family properties in CONCORD, MA as of May 17, 2013
Median List Price:	$1,185,058	Average List Price:	$1,561,200
Total Inventory:	90	Price per Square Foot:	$329
Average Home Size:	3,628	Median Lot Size:	42,622
Average # Beds:	4.33	Average # Baths:	3.60
Homes Absorbed:	7	Newly Listed:	8
Days on Market:	132	Average Age:	0

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Buyer Walkthrough

Additional Listing Information and Photos

78 Nickles Lane, Carlisle, Massachusetts

Carlisle, MA Market Snapshot

90-day stats for Single Family properties in CARLISLE, MA 01741 as of May 17, 2013
Median List Price:	$556,849	Average List Price:	$828,602
Total Inventory:	42	Price per Square Foot:	$256
Average Home Size:	3,466	Median Lot Size:	95,346
Average # Beds:	4.03	Average # Baths:	3.27
Homes Absorbed:	2	Newly Listed:	3
Days on Market:	115	Average Age:	0

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