Commonwealth Blog

The advantages of putting your house on the market during this time of year can oftentimes outweigh the disadvantages. During the holidays, sellers will not see as much traffic from people who are “just looking”. Buyers that are looking tend to be more serious, and they have more time to shop together, which is an advantage over other times of the year. Even though there may be slower traffic, sellers should keep in mind that it’s the quality of buyers versus the quantity.

10 Great Reasons to List Your Home During the Holidays:

1. November and December buyers are usually serious

2. Job transferees use the holiday to house hunt because January is the biggest transfer month

3. Investors usually want to close escrow by year-end for tax purposes

4. Nearly half of home buyers don’t have children living at home; there’s no need to wait for school to let out

5. Remodeling, decorating, appliance installation and other services are more available and at less of a premium

6. Lenders aren’t as busy and can process loans faster

7. Homes show well when decorated for the holidays

8. Showings will be fewer and less intrusive, but more likely to be fruitful with motivated, qualified buyers.

9. There is less competition with fewer homes on the market

10. Interest rates are low, giving buyers more spending power

The important thing to remember when you are contemplating whether or not to sell your home is your motivation. If you need to move, regardless of the time of year, it’s always a good time to put your home on the market!

For tips on how to make the most of the holiday season when marketing your home, visit one of our offices or speak to one of our agents today to learn how Commonwealth’s Holiday Marketing Plan can help you!

By: Nick Patsio, CEO

I am thrilled to inform you that our own Wendy and John Rocca, of the Watertown office, have been chosen by the National Association of REALTORS® as recipients for this year’s Good Neighbor Award, which is presented annually by REALTOR® Magazine at the National Association of Realtors Convention.  Earlier this year the Roccas were named one of 10 finalists for the Good Neighbor Award and with this announcement have been named one of five winners of this prestigious national honor, which recognizes REALTORS® for their volunteer service to the local community and charitable causes.

The wife-husband team was selected for founding Operation American Soldier, a charity that sends care packages to soldiers stationed overseas. Operation American Soldier began in 2003 when the Roccas sent a care package to their daughter, Tracy, a sergeant with the Army National Guard, who was stationed in Kuwait and then Iraq for a 1-year tour. Now the Roccas send packages and letters of support to soldiers who otherwise would receive nothing at mail call. More than 30,000 pounds have been sent overseas, filled with snacks, beverages, books, magazines and other items. Each box also contains a letter asking if the soldier knows of anyone else who is not receiving support from home who would appreciate a package.  

I had the incredible honor of being with Wendy, John, and their family when they received the esteemed Good Neighbor Award at the NAR Convention in New Orleans last week. It was such a blast and I just wanted to congratulate Wendy and john for their dedication to our troops.

To learn more about the Roccas and their work with Operation American Solider, please visit their website at www.operationamericansoldier.com, and be sure to check out the video clip the NAR has prepared on Wendy & John Rocca and their charity Operation American Soldier (OAS):

http://link.brightcove.com/services/player/bcpid79104322001?bclid=0&bctid=650853263001

Congratulations again to Wendy and John Rocca! We are so proud!

Have you been craving the newest, smartest technology on the market? The iPad has been sold out across the country – here is your chance to get in on the frenzy, for FREE!

With our iPad Giveaway, CENTURY 21 Commonwealth is raffling off a new iPad each month  now through December. We will be announcing September’s winner soon, so stay tuned!

All you have to do is drop by any CENTURY 21 Commonwealth open house, go to www.commonmoves.com to enter, or visit any one of our 17 offices and fill out an entry form for a chance to win! Be sure to enter now for October’s drawing!

Some good news came on the housing scene the other day: federal housing officials announced nearly $1 billion in funding to buy up foreclosed properties. The money will go to state and local governments so they can purchase, redevelop or demolish these properties.

Foreclosures have become the face of this recession. They can be like a disease that whisks in and infects an entire neighborhood or metropolitan area. The anti-American Dream, foreclosing on a house symbolizes rock bottom for a family’s financial situation.

But the new cash infusion should help to turn it around. Foreclosure is bad, but it can also symbolize a new beginning. If the funds can help state and local governments to transform foreclosures into much-needed affordable housing and rentals, then ultimately it’s better for the community, the local housing markets and local economies.

So far, the money seems to be headed in the right direction. Nearly half of the $970 million will go to the states hit hardest by foreclosures: Arizona, California, Florida and Nevada. Another big chunk is going to states in the Rust Belt, which have also been hit hard by foreclosure and tremendous job loss.

The government said funds can be used to buy property, demolish or rehab abandoned properties, and provide down payment and closing cost assistance to low-to moderate-income buyers, which should help to pump some life into this market segment.

It’s a much-needed boost and money well spent. We’ve said all along that there are opportunities in this market despite the gloomy numbers and forecasts. Here’s an opportunity for the state and local governments not only to create a better housing situation for some residents, but to create jobs associated with demolishing and rebuilding, boost confidence and improve their communities.

That’s real forward motion!

By Nick Patsio

President and CEO

At a recent gathering of real estate professionals of which I was a part, a rather interesting question was posed.

“Do people choose an individual real estate agent, or do they choose the brokerage for whom they work?”

The ensuing discussion was exhaustive and filled with more than a little hot air, but it got me thinking. What really matters to our customers and clients? What really matters to you?

At CENTURY 21 Commonwealth, we take the approach that everything matters. Everything is important. We are only as strong as our weakest link.

We take great care to hire only the best agents. And by “best”, I don’t just mean those who make lots of sales or who bring business to our offices. When I say “best”, I mean those agents who continually set higher standards for their work, to embrace innovation. I mean those who are willing to go the extra mile (and further, if necessary) for their clients and customers.

While many brokerages see fit to hire anyone with a pulse, we have no interest in merely filling our offices with bodies. At Commonwealth, our agents are the ambassadors of our brand. They’re carrying our name out into the field and their actions, good or bad, polish or tarnish our brand accordingly. Their skill, caring, and expertise is a direct reflection on us and the sort of business we endeavor to run.

You might ask yourself, “If I have a great agent, why should it matter to me whom he works for?”

On the surface, that question makes sense. But scratch just below it, and it makes no sense at all. Why does it matter?

It matters because, when push comes to shove, you want someone who is backed up by resources. There are plenty of real estate brokerages who hire agents (more to the point, who collect fees from agents and do very little else) and send them on their merry way with a few yard signs, never to give them another thought. Is that the sort of company that you want representing you?

At Commonwealth, we do things differently. We stand behind every one of our real estate professionals. We put the strongest resources and best technology behind them. We want everyone to know that Commonwealth stands for quality, not just a stable of relatively warm bodies who are doing the bare minimum. Our agents deserve our support, and our clients most certainly do as well.

Why this question should matter, why you should want both a great agent and a great brokerage is that while each is great individually, the strength generated by their combination is unbeatable. When you’re embarking on what is, arguably, one of the most important decisions – financial or otherwise – of your life, why would you settle for anything less?

By: Nick Patsio

President and CEO

In reading up on Gen Y – loosely defined as those born between the late ’70s and late ’90s – something that struck me as significant was this notion that Gen Y and baby boomers view home buying as starkly different things. A baby boomer would say buying a home is an investment, whereas their younger counterpart would say it’s a lifestyle choice.

I came across an article that dove deeper into the reasoning behind why Gen Y delays home buying compared to boomers. Based on a panel discussion sponsored by the Urban Land Institute, the article mentions that most in Gen Y do not have the resources to buy a home in their 20s. They tend to take breaks from work to travel, which can cost them lost wages and earning potential at this point in their careers.

The article also looks at affordability:

“(T)he average Baby Boomer could afford a home with $48,000 annual income if they bought a home in the early 1980s whereas a Generation Y household would have to bring in $142,000 per year to afford a home today.”

Obviously, all of these things have an impact on the housing market as young, first-time buyers are essential to the move-up market.

What strikes me about this trend of Gen Y delaying home buying is that there’s not a bigger conversation going on. Is it really that Gen Y does not want to buy homes? Or is it that they can’t afford the homes that are available to them? Are they really looking for a different type of ownership than we’re used to?

I think it’s important to engage in this conversation. Statistics show that Gen Y, estimated at 70 million individuals, is even larger than the baby boomer generation. Their habits, preferences and economic situation will have a big impact on real estate.

The current slowdown we’re seeing in real estate is no doubt caused by economic forces – job loss, foreclosures, tightened credit. But in the recovery, there is this other aspect that’s not being discussed as much – this “lifestyle” choice that is a little fuzzier than what we’re used to.

The good news is that lifestyle is exactly what real estate agents are good at understanding. Who better can tell you the little things about a neighborhood or city that don’t get captured in an online listing or for-sale sign? I believe that the more we understand each other, the easier it will be to accommodate Gen Y’s lifestyle choices.

RISMEDIA, June 25, 2010-Century 21 Commonwealth announced it is one of the top ten ranking Century 21 companies in sales production in 2009.

According to the company, Century 21 Commonwealth was established in 2006 when seven individual Century 21 companies in the Greater Boston Area joined forces to better serve the region’s home buyers and sellers. Now, one of the leading Century 21 brokerages in New England, the company consists of 500 sales representatives serving 150 communities.

“Congratulations to Nick Patsio and his entire team,” said Rick Davidson, president and Chief Executive Officer, Century 21 Real Estate LLC. “Century 21 Commonwealth is an exceptional example of what it means to provide The Gold Standard for real estate service.”

View the article here:  

Century 21 Commonwealth Recognized as Top 10 Company in Sales | RISMedia

By Nick Patsio
President and CEO

What are you really looking for when you decide to buy a home? Shelter, of course – a place you can call home that is comfortable, safe, and reflective of your own tastes.

And in that regard, looking for a home online can be pretty satisfying. There are hundreds, if not thousands, of websites displaying property listings today. Most of them give you basic information along with a few photos.

When you see one you like you might choose to move to the next step and contact a Realtor.

But what most buyers are looking for – and where most real estate websites fail – is an answer to a simple but important question:

Can I live here?

Answering that question requires something more than a list of properties for sale.

What you need is information that allows you to decide if the place in which a property exists meshes with the way you like to live life.

You may want to know:

Is there a good coffee house close by?

Are there day-care options near this property?

Is the elementary school within walking distance?

These are the things that get to the heart of the matter – the lifestyle factors that make a house a home.

We understand this at CENTURY 21 Commonwealth and built technology to support this sort of decision. When you conduct a property search on Commonmoves.com,  you will see a clear list of properties (along with some very cool mapping tools), but you’ll also see a link on the left side of the page that says “schools, cafes, groceries and more.”

You can then choose from over two dozen types of amenities – from banks to restaurants – and display them on a map. 

Of course, the best way to truly understand a property and its neighborhood is to work closely with a good Realtor, but with this view you can get much closer to an answer to that all-important “Can I live here” question.

Happy searching!

April 21, 2010

When you’re selling your home, finding the right Agent is the key to your success. At Commonwealth we offer you first-rate expertise coupled with extraordinary personal service, one of the many reasons why we’re the number one independent residential real estate company in Massachusetts, and in the top ten CENTURY 21 Companies in the world!

Commonwealth has developed an unparalleled in-house marketing arm that has an enviable, proven record of moving homes for sellers. Now, when you list your home with CENTURY 21 Commonwealth, you’ll not only get connected to a neighborhood expert, you’ll also be automatically entered into our $8,000 List Your Home Sweepstakes.

To learn more contact us today!

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