“Landlords Helping Landlords” NWNorthern WorcesterCL CountyA Landlord Association Volume 55 Landlords Helping Landlords May 2009 fear of unemployment, not being able to get the deal financed, NWCLA President’s May Letter or the end of the Summer buying market - but there was little to no competition for the deals we have landed recently. Dear NWCLA Membership, In contrast, on the very first day of Spring, we saw one listing At our April NWCLA members’ meeting we had we were interested in. It was a six family, plenty of parking, the advantage of having two topics for discussion asking a fair price and right in our buying market. Per the usual, for our members. We featured our very own we booked our showing the very day it hit the market and went NWCLA Board Members, Realtors and property up earlier than our scheduled time to take a look around and owners, Jamie Merrill and Jay Johnson. We also had the pleasure tag along if the broker showed up early. We found out there of having representative, Mary Ann Cantu, President of had already been a ton of activity and the broker had booked 9 National Tenant Network, Boston Chapter come out and discuss showings for that very same morning. This was just the first day with the group the finer details of tenant screening. on the market too! We haven’t seen any prices increase much, but there are indicators that there will be bidding wars this season. Jamie and Jay discussed market indicators that are happening in real estate today. They went into detail explaining the workings of We only have two more NWCLA member meetings before the what it takes to negotiate deals and navigate your way around the Summer break and you don’t want to miss these topics in our world of short sales (SS), real estate owned (REOs), and working open forum. At our May meeting, we have the opportunity to with your Realtor to close these deals. As many of you already sit with officials from the Worcester Housing Courts who will know, patience is the bottom line. The banks holding the paper on discuss new changes in the court system and then open the floor these deals are often out of the market where they hold, unaware to your questions for discussion. This is a rare opportunity to of what condition the property is in, and their desks are buried actually discuss what is going on in the courts - before you need with the weight of hundreds of cases awaiting review. Both Jamie to be in court. I have attended this venue over the years as a and Jay are very excited about the rea; estate deals that are out NWCLA member, and I have to tell you, our members have told there, and compounded with today’s lower interest rates, reaffirm us – this is one of our best speaker presentations. we are in a buyer’s market Phase 1. Work with your Realtors, talk to your lenders, and take advantage of the market while it lasts. Sincerely, Mary Cantu of the National Tenant Network, Boston Chapter, Brian Lucier shared with us some of the practices and experiences she has had dealing with the prescreening of tenants. Mary is not only NWCLA President 2009 – [email protected] the President of the NTN Boston Chapter, but she is a lanldlord right here in the state of Massachusetts with all of us too. She is well aware of the challenges we face and feels our pain being in a tenant friendly state. The National Tenant Network is a service to help landlords get the best tenants and help to avoid some of the In This Issue Page nightmare tenants out there who are working the system to their advantage. The NTN, besides prescreening tenants, can assist you President’s Letter 1 in getting your judgements for collection recorded on the credit NWCLA Useful Notes 2 NWCLA Members’ Sponsor Testimonial Program 2 score of the offender until that judgement is paid in full. They Upcoming Topics, 4 really are there to help you – before, during, and after dealing BUY-SELL-TRADE-FREE 4 with problem tenants. Is Commercial Real Estate the Next Shoe to Drop? 5 Web Site: http://www.diynetwork.com/ 5 On a real estate market highlight, Spring has sprung and the real Lawyer’s Corner with Michael J. Ciota – Reminding Landlords 6 – 7 U. S. Foreclosure Filings Hit Record for Second Straight Month 8 – 9 estate market has picked up quite a bit. Last Fall, we were placing SPECIAL REPORT: Road to Rescue 9 – 10 offers on apartments and many times, we were the only bidder on Appraisals Killing Deals in Many Markets 11 some of these deals. Maybe it was a combination of the recession, Schmidt’s Smorgasbord 12 www.nwcla.com 1 Volume 55 Landlords Helping Landlords May 2009 NWCLA Board Members “NWCLA – Landlords Helping Landlords” P.O. Box 276 – Fitchburg, MA 01420 – 978-345-1887 – http://www.nwcla.com President We are proud to serve the following communities: Brian Lucier 978-448-3873 Ashby Fitchburg Lancaster Sterling [email protected] Ashburnham Gardner Leominster Townsend Vice President Athol Harvard Lunenburg Westminster Clinton Hubbardston Phillipston Winchendon Debbie Greelish [email protected] NWCLA Useful Notes NWCLA Members Testimonial Program Treasurer • Summary Process Summons & Tina Miller Complaint Forms are available Every month we are going to extend to you an opportunity to highlight [email protected] for $5.00 NWCLA meetings the positive experiences you’ve had with any of the vendors in our newsletter. Please take a moment to e-mail me a few words describ- Secretary/Clerk • The newsletter committee needs you to E-mail your stories, ads, ing the work that was done for you and the name of the contractor who Theresa Dattolo completed the job. Your affirmative input will let other property owners [email protected] helpful hints, to [email protected] in our group know that working with our advertisers can be a positive Membership Director • The Successful Landlord is avail- experience. This is also a great way to say “thanks” to the business men able to purchase at our meeting. and women who contribute to the Northern Worcester County Landlord Brenda Coveno-Watson [email protected] Cost is $40.00. while supplies last Association and our goal of being the best landlords that we can be! Newsletter Director • Anyone seeking past eviction Jay’s e-mail is [email protected] or mail him stories to: lists please go to our web site to NWCLA, ATTN: Jay Johnson, P.O. Box 276, Fitchburg, MA 01420 Rick Dupuis 978-342-9448 download the latest copy. [email protected] Welcoming Committee NWCLA Membership $80 Theresa Dattolo [email protected] Membership Benefits Include: • Monthly NWCLA Newsletter Advertising Director • Local Drug Arrest List Jay Johnson 978-423-9845 • Housing Court Eviction List [email protected] • Member to Member Support Web Site Director • Informative Monthly Seminars • Association Attorney Brian Lucier 978-448-3873 • Legislative Updates [email protected] • E-mail Alerts on Housing Issues Oil Program Director • Web Site - www.nwcla.com • NWCLA Blog posts at Jay Johnson 978-423-9845 [email protected] www.realestateinvestor.com Food Committee MA LIC #10588 212 West St., Gardner, MA Dave & Laura Schmidt [email protected] 978-632-1100 • 800-995-6395 Program Manager Full BURNER Service Jeff Landry [email protected] Full PLUMBING Service Legislation Director Full AIR CONDITIONING Service 24-Hour Heating & Plumbing Emergency Service Jamie Merrill 978-407-7174 [email protected] FREE Estimates • Residential & Commercial Work Board Member Heating Oil • Diesel • Winter Blends Matthew Moore 978-345-7971 [email protected] Senior, Active Military AND Volume $$DISCOUNTS$$ Board Member Pre-Pay & Budget Plans • Online Bill Payments • Energy Saving Products Ron LeShane Jr. A Local Family Owned & Operated Business [email protected] “Why Make More Than ONE Call? ...When COUNTRY FUEL Does it All!” 2 www.nwcla.com Volume 55 Landlords Helping Landlords May 2009 DON’T GET RIPPED OFF! You have the right to choose the LOWEST COST Eviction Mover / Public Warehouser See our web site at: www.evictionmover.com for information and licensing or call 1-617-966-6684 The Law Office of NWCLA MEMBER DISCOUNTS David R. Rocheford Jr., P.C. Real Estate Law We hope you will find these discounts helpful for the maintenance of your properties Our office is a dedicated Real estate Law Office. We strict- ly handle Real Estate conveyancing matters. Count on us to assist you in your next Real Estate transaction. Visit Aubuchon Hardware our web site for more information and news updates Group # 1000501 – Membership card required Our clients consist of: 20% off Glidden paint • Real Estate Investors 10% off merchandise • Real Estate Buyers and Sellers • Local and National Mortgage Lenders Grand Rental Station • Private Mortgage Lenders We provide our clients: Cash Acct. # *195 – Membership card and • General Counsel in the sale & purchase Photo ID required 10% off of Real Estate • Settlement & closing services Maki’s Building Center • Title examinations Cash Acct. # *195 – Membership card and • Title Insurance • Escrow Services Photo ID required 2% - 10% off 100 Erdman Way – Leominster, MA Sabourin Hardware Tel: 978-847-0104 – Fax: 978-847-0105 Membership card and Photo ID required www.myrealestateattorney.net Member of the Real Estate Bar Association of Massachusetts Please Note: The information in this newsletter is not intended to be construed as legal, accounting, or other professional advice. Seek legal advice from licensed professionals for answers relating to your particular questions and circumstances. Start your own FREE NWCLA Blog discussion http://www.realestateinvestor.com/groups/69/ 3 Volume 55 Landlords Helping Landlords May 2009 NWCLA Program Schedule 2009 BUY-SELL-TRADE-FREE May 14, 2009 Representatives from Housing Court FOR SALE REAL ESTATE that will address our landlord/tenant 2 Stoves 2 Refrigerators LOOKING FOR INVESTORS!!! questions in a casual open forum.