Haunted Real Estate

Are you looking for or selling a house with a little extra atmosphere? Would you like the feeling of having a permanent unseen houseguest? Some people, perhaps someone like you, actually want to buy a house that is haunted.

So how do you go about trying to find a haunted house for sale, or sell your own house that has a resident ghost? When househunting, how do you find a house that comes with a ghost, and if you're selling a haunted home do you have to openly divulge that information to everyone?

Hauntings fall into a shadowy area of disclosure, in part because there's typically little or no solid proof that the ghost exist, and only "facts" have to be disclosed. The Commonwealth of Massachusetts is a "don't ask/don't tell" state regarding hauntings in houses for sale. You have to specifically ask the agent/seller if there is paranormal activity in the house, and they have to tell you what they know. But if you don't ask, they don't have to offer it up front.

The law in MA, Chapter 294 of the Acts of 1998, An act further regulating the disclosure of certain information in real estate transactions states: Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

SECTION 1. Chapter 93 of the General Laws is hereby amended by adding the following section: - Section 108. The fact or suspicion that real property may be or is psychologically impacted shall not be deemed to be a material fact required to be disclosed in a real estate transaction, except as provided in this section. "Psychologically impacted" shall mean an impact being the result of facts or suspicions including, but not limited to, the following: (a) that an occupant of real property is now or has been suspected to be infected with Human Immunodeficiency Virus or with Acquired Immune Deficiency Syndrome or any other disease which reasonable medical evidence suggests to be highly unlikely to be transmitted through the occupying of a dwelling; (b) that the real property was the site of a felony, suicide or homicide; and (c) that the real property has been the site of an alleged parapsychological or supernatural phenomenon.
No cause of action shall arise or be maintained against a seller or lessor of real property or a real estate broker or salesman, by statute or at common law, for failure to disclose to a buyer or tenant that the real property is or was psychologically impacted.
Notwithstanding the foregoing, the provisions of this section shall not authorize a seller, lessor or real estate broker or salesman to make any misrepresentation of fact or false statement.

Although it took place in the State of New York, it's worth looking at the most famous court case on the subject - Stambovsky v. Ackley (572 N.Y.S.2d 672 NY App. Div. 1991), regarding the sale of a magnificent Victorian mansion at 1 Laveta Place in Nyack, NY . The sale was contested after the Stambovsky family made an earnest payment of $32,500 on the $650,000 home. Even though the house was clearly spooky at first sight, the couple was from out of town and did not know about its reputation. For a long time, the sellers had promoted the home as haunted, had a write up in Reader's Digest, and had featured it on a haunted walking tour of the city. When the sellers chose to sell the house they stopped promoting it as haunted.

Once the couple learned of the house's reputation, they tried to back out of the deal and get their deposit money back. The owner refused to cancel the sale or return the down payment, so the Stambovsky's took the seller to court and lost, only to win with a narrow margin of 3-2 in appellate court, after the court found that by deliberately fostering the belief that the house was haunted, the seller had to, by law, disclose that the house was the psychological impacted.

Some great links for more information on haunted real estate:

http://www.sdparanormal.com/Haunted_House_Listings.html

http://www.realtown.com/articles/haunted-real-estate-a-primer-for-real-estate-agents

http://www.hauntedrealestate.com/

http://www.ghostsandstories.com/haunted-real-estate.html

http://www.hauntspot.com/haunt/articles-and-news/haunted-real-estate.shtml

http://www.associatedcontent.com/article/421456/selling_a_haunted_house_a_satiric_real.html
Articles on Real Estate's Scary Side:

http://money.cnn.com/2003/10/21/pf/yourhome/househaunting/

http://realestate.msn.com/buying/Article_bankrate.aspx?cp-documentid=1102007&GT1=10534

Ghostly Appraisals: http://www.realestatedamages.com/index.htm

Ghost Removal Solutions and Housecleaning: http://www.moonslipper.com/

3 important things you need to know if you’re a first time home buyer

1. DON'T GET "PRE-QUALIFIED” GET “PRE-APPROVED”

If, like all of us, you want to get the best house you can for the least amount of money, you need to make sure you are negotiating from a position of strength. Price is only one element in the negotiations and not necessarily the most important one. Often other things, such as the financial strength of the buyer and their down-payment or the closing date are critical to a seller.

It’s useless to be "pre- qualified" by a lender. This means that you have spent a few minutes on the phone with a lender who asks you a few questions. Based on the answers, the lender pronounces you "pre-qualified" and issues a certificate that you can show to a seller. Sellers are aware that such certificates are worthless, because none of the information has been verified.

The way to make a strong offer today is to get "pre-approved". This means that all your financial information has been checked and verified by a qualified loan professional and a lender finds that if nothing changes they will lend you the money you need to purchase a home. This process often only takes a few days.

2. GET A BUYER’S AGENT

Listing agents place ads to get you to call them - they want to handle both the seller and buyer end of a deal. When reading an ad know that what is not mentioned in the ad is usually more important than what is. For example, many homes have some drawback that any good agent will never mention in an ad, such as traffic noise, power lines, or outdated plumbing and electrics.
Remember that the person writing the ad is representing the seller. When you look at a house with the seller’s agent they will not critique the property or point out any drawbacks you should know about - it’s up to you to find them out on your own. Or you can get your own agent - known as a buyer’s agent.

Your buyer agent looks out for you and your best interests during negotiations on price, inspections and contingencies. In Massachusetts a seller's agent can work with you as a buyer for the property, but the listing agent must disclose that in the event of a conflict of interest they work for the seller and look out for their interests above yours.

Did you also know that many homes are sold without a sign ever going up or an ad ever being put in the paper? These great deals go to those people who are committed to working with their own buyer’s agent. When a buyer's agent sees a great house come on the market they call their client who is looking for that type of house.

So in order to get the best buy and to save time not looking at unsuitable properties, I always recommend that you hire your own buyer’s agent and if they’re good stick with them.

3. DON'T BE PUSHED INTO A HOUSE BUT DON’T BE AFRAID TO STEP UP FOR THE RIGHT ONE

Your agent should show you everything available that meets your requirements. Don't make a decision on any house until you feel that you've seen enough to pick the best one. Especially if a town is new to you, it is a good idea to get a feel for the town and its neighborhoods. A good agent has the patience and experience to work with you until you find the right house.

Having said that,however, there are two circumstances where you may need to make a fairly quick or bold decision. There are times when a home comes on the market and as your buyer agent, as soon as I see it I know it is what you have been looking for - a reasonably priced house in a good location in great shape. This one won't last and when I call, if you think you'd like it you should be willing to look at it now and make a decision quickly.

The other situation is that it's your first or second weekend looking at houses when you find "the one". It's great - just what you were looking for. But....you've only seen five other houses and what if you find one weeks from now that you like more? Sad to say, I have had clients in this situation and who weeks or months later were saying, "Gosh I wish we had jumped at that house.... it was just what we wanted." Sometimes the right one is one of the first few you see. Trust your gut if it is.

Contact Me

Why You Should Have a Buyer's Agent

The listing agent shows you the house - you love it and they can write up the offer for you! That listing agent loves you. And the agent's realty company loves you even more! Normally a commission gets split 4 ways. When you work directly with the seller's agent, they and their broker (company) get to keep the whole commission. Congratulations to the seller's agent!

The home seller is their only client. You are not their client and they have no responsibility legally to act in your interest. Client means that the agent has a fiduciary duty to that person, just like attorneys or doctors do with their clients & patients. That includes privileged information about your level of desire, need and ability to buy that home. If the seller is highly motivated, you're not going to know that you could've offered 10% below market instead of 5%. If the seller's agent is good, they are going to be sure that you think you're getting a "wicked good deal" when you're really paying top dollar. They also are going to make sure that their seller has every opportunity to keep your earnest money deposit if you mess up even a little bit. And they'll make sure any contingencies benefit their client, not the poor unrepresented guy on the other side of the deal (which is you).

And where are you getting your analysis of market comparables? Hopefully it wasn't from the seller's agent. Comps, like any statistical analysis, can be easily manipulated to favor a top dollar or a low ball offer, depending on which homes the agent chooses to include or exclude from the mix.

When you put in an offer on a house with the listing agent, you have basically tipped your hand and all your information will be shared with the seller. But the realtor seems nice, and why would this be so bad, you ask? Let's say you've shown the realtor your mortgage approval letter - for an amount equal to or above the asking price. Well, there goes all your negotiation edge.

A buyer agent (ABR) is the only person in your house search and offer process looking out only for YOU. They are your advocate in a major and life-affecting purchase. Using a Buyer Agent costs you no money, and may even help you save money in the initial negotiation and using inspection issues to re-negotiate.

Would you want to go to a court trial having the Prosecutor do double duty as your defense lawyer? Absurd and ridiculous? So is using the listing agent as your realtor and expecting them to act in your best interest.

Call me today (978-580-1069) if you’re ready to buy and want your own buyer’s agent! You deserve it.

Sudbury, MA Real Estate Market Report for February 2008

This year winter has been a very unpredictable season. One day it's 50 degrees out and three days later it's 5 below zero. Just like that old saw, "in New England if you don't like the weather, wait a minute".

One thing that has been predictable is the state of the real estate market in Sudbury, Massachusetts ... it's a variable market in almost the entire price range.


So WHAT KIND OF MARKET IS IT? In my experience it's best to divide the Sudbury market into a series of logical price points.

For houses under $299,999 there is currently a 12 month supply, a strong buyer’s market.

For houses between $300,000 & $349,999 there is currently a 7 month supply, a buyer’s market.

For houses between $350,000 & $399,999 there is currently a 1 month supply, a strong seller’s market.

For houses between $400,000 & $449,999 there is currently a 3 month supply, a seller’s market.

For houses between $450,000 & $499,999 there is currently a 9 month supply, a strong buyer’s market.

For houses between $500,000 & $599,999 there is currently a 5 month supply, a balanced market.

For houses between $600,000 & $699,999 there is currently a 4 month supply, a balanced market.

For houses between $700,000 & $799,999 there is currently a 3 month supply, a seller’s market.

For houses between $800,000 & $899,999 there is currently a 8 month supply, a buyer’s market.

For houses between $900,000 & $999,999 there is currently a 9 month supply, a buyer’s market.

For houses between $1,000,000 & $1,499,999 there is currently a 5 month supply, a balanced market.

For houses between $1,500,000 & $1,999,999 there is currently a 12 month supply, a strong buyer’s market.

For houses between $2,000,000 & $2,499,999 there is currently a 12 month supply, a strong buyer’s market.

For houses over $2,500,000 there are currently 5 homes in the supply, with no historical market data for comparison.

For more specific details, click on this link. http://www.hunterthehousehunter.com/sudbury-market-reports.htm