Real Estate

Difference between Pre-Foreclosure and Foreclosure

Maybe you or a friend or family member is  behind on their mortgage and are trying to figure out what it all means. Know it’s overwhelming. It’s confusing. And that help is available. 

So let’s answer the question about what the difference is between Pre-Foreclosure and Foreclosure. And as a bonus, let’s also talk about what REO stands for and means. 

Okay, let’s say that I am not able to afford the mortgage on my house. Most people believe that if you miss the mortgage payment on the 1st of the month then you are late. This is not true. You have a grace period until the 15th of every month. You are late on the 16th, but it's kind of late. Yes, It’s true. You are late and you will be assessed a late fee, but there will be no impact to your credit as long as you pay by the end of the month. That’s why I say it's kind of late. The late fee is annoying, but your credit isn’t harmed so in the grand scheme of things… Who cares? The mistake cost you a couple bucks. 

Okay, once you are a month late, that’s when you have moved over to the pre-foreclosure pool of loans. This is essentially when the bank will most likely move the loan to the loss mitigation department. Most. I say most because all banks don’t operate the same. But, most banks won’t really do anything for the first 90 days. They may call to try to get some money. Send a couple automatically generated notices outlining a borrower's options. But they don’t really take it all that seriously at this time. They are hoping the homeowner cures the loan. 

It’s after 90 days, that’s when banks start to move forward and take it a little more seriously to begin the actions of settling the debt....

Real Private Label - Independent Brokerages Best Option?

The Best Option for Independents - REAL Private Label

Have your cake and eat it too. That is what REAL has created with their Private Label program that is specifically designed to allow independent real estate agents to keep their identity while plugging into a larger model that is tech driven and eliminating liability. 

I am getting a little ahead of my skis here. First let’s talk about what it is. 

The REAL Private Label is a program that allows a brokerage to keep their name and their independence, but also allows them to be part of the REAL network. 

It is essentially set up as a D/B/A (Doing Business As). Let’s say you are the owner of ABC Real Estate and you have a 70 agent brokerage. You have spent millions on marketing so that ABC has some brand recognition in your town. Understandably this would be a lot to walk away from! 

REAL allows you and all of your agents to join REAL, but also keep ABC Real Estate. Like I said, you get to have your cake and eat it too! 

So what are the benefits of taking an independent brokerage and becoming a part of REAL and using their Private Label program. 

To me the first and biggest benefit is the elimination of Liability. In today's Class Action Lawsuit and sue for your coffee being too hot world… This is a pretty nice perk. Being a part of REAL means that they are responsible for the liability of your agents as well as the industry sales practices. It’s REALs Errors and Emissions. 

Another benefit is the back end management of the real estate company. I remember it was this benefit that tipped the scale for me going to eXp back in the day when I was looking at leaving RE/MAX and was...

Which Real Estate Companies Survive?

Which Real Estate Companies Survive the Next Downturn?

There is about to be a lot of change in our industry. So the question becomes, who survives? Everyone is talking about that. There is a lot of disagreement on what and how much is going to change. But time will tell with the best ideas and the best changed business models ultimately winning. 

So let’s talk about what so few are wanting to talk about, let alone admit. A reduction in agent count AND a reduction in the amount of real estate companies. 

I have heard some talk on the agent count, but no one has talked about the reduction on real estate companies. 

Let’s do a quick survey of the field. Even without these industry changes, the industry was on it’s way of contracting the agent count either way. 

We currently have 1.6 million agents for 4.5 million sales. The last time we had a market with 4.5 million sales it was supporting about 1 million agents. Essentially the agent count was already going to have to contract in order to get back within the historical norm. 

But now let's add in this additional cluster that is the NAR settlement. 

We can debate the amount of agents that will be forced to leave until we are blue in the face. But what is not really up for debate is the question as to whether this will reduce the amount of agents in the industry. 

I think it’s safe to say that it’s a lot of the same agents that were going to be forced to head to the door due to the natural re-alignment from the decrease in sales. But I still think there will be additional fallout. I think this lawsuit essentially makes being a part time agent nearly impossible....

MYTHS DEBUNKED - National Association of Realtors Settlement

National Association of Realtors Settlement Myths

The National Association of Realtors settled in a class action lawsuit. Once approved, the settlement will take effect in July. There have been declarations in the media about what the outcome of this settlement will be. The media has had a consistent drum beat that transacting real estate will become almost free, it will protect consumers and make homeownership affordable again. 

This lawsuit does not do this. Let’s break down what they are saying and shine a little truth on the matter. Because the bad information is only adding to the market confusion. 

My name is Jeff Chubb and I am a retired investment banker turned real estate agent that has sold more than a 1,000 homes. If you have real estate questions, then know that I am here to help. 

Let’s go over 6 media declarations and clear the air. 

The Settlement forces brokers to reduce their compensation. 

False. The settlement in no way establishes a standard or limitation on Realtors for what they charge, nor the services that they elect to deliver. Those fees have always been negotiable and there has never been any collective bargaining. 

I do think there will be more negotiation in fees and ultimately the fees will decrease in the beginning, but as more and more agents leave the industry then you will start to see the average fee increase. 

The Settlement will, for the first time, allow sellers to no longer pay compensation for an agent bringing the buyer. 

This one is false as well. There has never actually been an obligation for a seller to pay a buyer agent. I guess that’s not a 100% true. I guess a seller needed...

UNPOPULAR Realtor Insight...Realtor Commission Settlement

I will admit. I have been slow on getting a separate video out on this as I didn’t want to just react. I wanted to see how it was going to play out and see what other people were saying and what they would be doing as a reaction to what I would consider being the biggest development in our industry since at least the 20 years that I have been in it. 

And the reactions have been surprising. I have the luxury of networking with some of the biggest teams in the country. These people are far more successful than I am. Smart folks that are the top in our industry. And I have been shocked by their response or should I say lack of response. 

It seems that… I can’t even say the majority. Because it feels like nearly the entirety of our industry is continuing to operate in a fashion that the business will stay the same, but the way we do it will be a little different. 

Yes, we are going to talk about that. We are going about my opinion on the future and what I am seeing today. And what it means for you, the consumer. I think a lot of what I am about to say will surprise you. 

Real quick, my name is Jeff Chubb and I am a retired investment banker turned real estate agent that has sold more than a 1,000 homes. If you have real estate questions, then know that I am here to help. 

Let’s recap extremely quickly. The NAR settled with a group of seller’s in a class action lawsuit. With this settlement came agreements on changes to how the Organization operates and thereby how the industry will operate. Essentially what is being called for is a decoupling of the real estate commissions...

Why I Left eXp Realty

Why I left eXp Realty

I was with eXp Realty for nearly 6 years. I think I should first mention that it is the second best real estate company out there. Without question. And the founder, Glenn Sanford was a genius in creating his vision. 

It’s difficult being the first through that brick wall and creating a new type of business model. eXp Realty did that. And they were rewarded with it being one of the fastest growing and now largest brokerages in the country. 

But here is the thing. While being first gives you advantage as first to market, it allows others to look at your business model and put together a business plan that perfects the imperfections that you couldn’t account for in the designing phase. And that is what Real Broker did. 

I was an EXTREMELY happy agent at eXp. Heck, I was on the agent advisory council. I loved the company. So what were the reasons and advantages of Real Broker that got me to leave eXp Realty? 

I am going to list them out. Mind you this is my opinion and what I saw. I implore you to do your own research and see if that is the case for you too. And if you have questions, then please feel free to reach out… Confidentially of course. 

I am a numbers and cents guy. So the financial part of it was the first thing that piqued my interests.

The first thing I saw was that the cap was less. It is $12,000 compared to the $16,000. Frankly, it’s not end of the world money and $4,000 was not enough of a reason to leave eXp. But the half cap for a team member goes from $8,000 to $6,000 per year. I felt this would be helpful in recruiting new team members to the team. 


Vacant House Threats: The Squatter Risk

Vacant House Threats: The Squatter Risk

Vacant houses happen for a host of reasons. People relocate. Someone passes away. An investment property that isn’t rented out immediately. 

The point is, vacancy happens. And an issue that is becoming worse and worse and about to be exasperated is people squatting in these properties leaving property owners nearly powerless. 

I know what you are thinking. Dad passed away last month and I finally came to the point where I have it in me to go over to their house and start cleaning it out and preparing it for sale… I go to open the door and find a family has moved in. 

I’ll just call the cops and they will get these criminals out of this house right away. 

Ha. Ya. No. 

The majority of states have laws that have made it exceedingly difficult to get squatters out once they have settled in. Someone who breaks into mom and dads house and establishes themselves there are granted tenant rights. Especially when they whip out that fake lease.

You heard that right. You need to evict them. This means that squatters could live in your parents property for months, maybe even years… All while not paying a dime and possibly ruining the property. 

This may make you sick. Well, if you are a good and honest person, then actually a lot of what I am about to show you and say to you will make you sick. 

Check out this post in a Facebook Group. This is a person who is squatting in a 3 bed house and has water and electric in their names and needs some tips. 

And sure enough. Another criminal is quick to jump in with tips of never leaving it empty. Putting a for sale sign in front of it and acting like it’s theirs. Hang real curtains. Paint the shutters. Meet the neighbors and act like you own it. 


Weymouth, Massachusetts 2023 Real Estate Market Recap

Weymouth, Massachusetts 2023 Real Estate Market Recap

The Weymouth, Massachusetts Real Estate market had some good news… And some bad news in 2023. The bad news sales were down. A lot. But sales and pricing are not correlated. It’s inventory and pricing that is correlated. 

Home sales in Weymouth were down 25.4% as there were 352 Single Family homes sold in 2023 which is compared to the 472 units sold in 2022. 

The average sales price of $620,831 was up 3.8% in 2023 from the $597,945 in 2022. The median price told a little better of a story… For home sellers that is! The median price of $605,000 in 2023 was 5.2% higher than the median price of $575,000 in 2022. 

There were 402 Single Family homes that were listed in Weymouth in 2023. This means that newly listed properties were down by 23.4% as there were 525 newly listed Single Family homes in Weymouth in 2022. Want to see all the current Homes for Sale in Weymouth



Beacon Hill 2023 Real Estate Market Recap

Beacon Hill, the neighborhood famed for stunning Beacon Hill Brownstone did not have its best year. Home sales in Beacon Hill were down by 27.5% as we sold 129 units in 2023. This is compared to the 178 closed units in 2022. 

The median sales price was also down for Beacon Hill Real Estate. The median price in 2022 was $1.250 million dollars which represented a .99% decrease in the sold median sales price. The median sales price in 2022 was $1.625 million. 

Oftentimes, especially in the city, a new large (luxury) building that is being developed and hits the market can throw off the sales levels and pricing for a specific neighborhood. In this case we can contribute some of this disparity to 110 Sudbury Street which is a 55 unit luxury building. We also had the continued sell out of the Archer Residences at 45 Temple Street which is a 62 luxury building. 

You can check out the current Beacon Hill Homes For Sale .


2024 Real Estate Market Predictions

2024 Real Estate Market Predictions

So what will 2024 look like for the real estate market? 2023 was a rough year with the interest rates surging and prices still increasing. It put a squeeze on home affordability. 

So what’s in store for us in the Real Estate Market in 2024? Will we get a break in home prices? Will we see affordability improve? Or will it be more of the same where home prices continue to go up and the challenges in the marketplace for buyers get worse? 

We are going to talk about it all from Inventory levels, buyer demand, the number of transactions, mortgage rates, recession likelihood as well as prices. Keep in mind that real estate is local and that much of what we will discuss is national, but I will also talk about the local Massachusetts market as well. 

Real quick. My name is Jeff Chubb and I am a retired investment banker turned real estate agent that has sold more than a 1,000 homes. If you have real estate questions, then I am here to help. 

Let’s first talk about interest rates, because they owned the headlines in 2023. The interest rate environment has improved significantly from the 8% peak that we saw in 2023 as we now hover around 6.5%. And this happened quickly which offered buyers pretty much instant relief. 

In 2024 I believe that you will see interest rates stay within the 6% to 6.5% range. You may see some dips into the high 5’s, but interest rates are not going back to the 3 or 4% range. Do not hold your breath waiting for rates to go down that low to buy a house, because otherwise you are going to turn out looking like these guys!

The FED will do some rate relief. It’s an election year. It will happen. But I don’t necessarily think it’s...

Quincy 2023 Real Estate Market Recap

It wasn’t a great year for Quincy Real Estate… But it could have been worse too! 

Home sales in Quincy, Massachusetts were down 20.2% as there were 289 Single Family homes sold in 2022 which is compared to the 362 that were sold in 2023. 

The average sales price of $706,064 was down 1.53% in 2023 from the $717,043 in 2022. The median home price was $660,000 in 2022 compared to the 2023 median price of 663,000. This would equate to a .5% increase in pricing. So depending on which data you are looking at… The Quincy Real Estate market could be marginally better or marginally worse. 

In 2023, there were only 4 houses in Quincy that sold for more than $1.5 million. This is compared to the 8 homes that sold above $1.5 million in 2022. This 50% collapse in the luxury Quincy Homes For Sale segment of the market is what pushed down the average price point a bit for 2023.


Cohasset 2023 Real Estate Market Recap

Cohasset 2023 Real Estate Market Recap

Cohasset Real Estate did not have the hallmark year in 2023 that many had hoped. 

Home sales were down 34.4% with there being 59 closed Single Family home sales in 2023. This is compared to the 90 closed sales in 2022. 

The average sales price was down 6.9% from $1,740,454 in 2022 to $1,617,043 in 2023. It’s a little bit of a different story when you look at Median prices however. Median pricing was up 7.2% as the median price was $1,375,000 in 2022 compared to the median price of $1.474,000 in 2023.

So what is making for a big disparity in the numbers?

In 2023 there were 8 home sales from $2,000,000 to $2,999,999 and 5 Home sales from $3,000,000 or above. This is compared to 2022 when there were 15 home sales from $2,000,000 to $2,999,999 and 9 home sales in the $3,000,000 plus range. 

In other words, it was the 45.8% collapse in the luxury Cohasset Homes For Sale market that pushed down the average price point for 2023. 



Top 10 Appreciating Towns in Massachusetts for 2023

Top 10 MA Appreciation

What a year! The consensus was that real estate values were going to tank, but yet the top real estate market in Massachusetts saw average sales increase nearly 30%! 

We saw 202 markets out of the 252 markets in the state see home values increase in 2023. So it is safe to say that for most homeowners it was a pretty good year throughout the state of Massachusetts.

In this video we are going to go over the top 10 appreciating markets for SIngle Family homes in Massachusetts in 2023. So how did we come about this data. We used the primary MLS in the state which is MLSPIN. We excluded any towns that had less than 30 sales in either 2022 or 2023 as that is not enough data for a complete analysis. Now let’s get into the data!

The 10th best appreciating town in Massachusetts for 2023 was Westborough, Massachusetts. Westborough saw 98 sales for an average sales price of $890,605. While sales levels were down 30.5%, home values in Westborough, MA were up 17.1% for 2023. Check out all the Westborough Homes For Sale !  

The 9th best appreciating town was Lunenburg, MA. Lunenburg had 127 Single Family homes sell in 2023. This equates to a 9.3% decrease in sales while their $573,270 average sales price equated to a 17.4% increase in pricing. 

The 8th highest appreciating town in Massachusetts was Ashburnham. Ashburnham had 78 single family homes close in 2023 for an average sales price of $470,137. Ashburnham had a 12.4% decrease in sales and a 17.4% increase in pricing in 2023.

The 7th best performing town in Massachusetts for 2023 was Holland, Massachusetts. Holland saw 30 home sales at an average sales price of $376,563 in 2023. This...

Top Appreciation & Depreciating Boston Neighborhoods for 2023

Top 3 Boston Appreciation & Depreciation Neighborhoods of 2023.

What a year for real estate. Everyone said it was gonna die off and be the way of 2008 with massive housing price declines. As a whole, it didn’t. The market in Massachusetts was a strong performer. But not all neighborhoods in Boston had the same fate. One neighborhood was down nearly 10%!

We disqualified neighborhoods that had under 20 sales. These neighborhoods included Bay Village, Mission Hill and the Chinatown/Leather District. It was not enough data for a good analysis. Our Multi-Listing service also doesn’t necessarily play by the Boston neighborhood rules… Sometimes it makes sense. Other Times it does not.  For example, the Seaport District was separated from South Boston. The Waterfront area is separated from the North End while Downtown lumped together the Financial District, Theatre District and Midtown. 

In 2023, the largest city in New England saw 4,887 properties closed with a median sales price of $799,000. We looked at all Single Family, Condo and Multi-Family sales in all the neighborhoods. Click Here to search all Boston Homes For Sale

This means that Boston saw a 21% decrease in the amount of units sold with prices going up 3.1% as in 2022 we sold 6,187 units for a median sales price of $775,000. 

Oh, real quick. My name is Jeff Chubb and I am a retired investment banker turned real estate agent that has sold more than a 1,000 homes. If you have real estate questions, then I am here to help.

So 3.1% for the entire city of Boston. Not bad. Again, especially for a year where everyone was saying that the market was going to tank. 

Let's first go over the top 3 best performing neighborhoods in Boston.

The third best performing...

2023 Massachusetts Real Estate Market Recap

The 2023 Massachusetts Market Recap

The 2023 chapter has come to an end. It’s hard to believe… But what a year. I have to say… That was the best real estate crash I have ever seen. 

All the so-called experts said 2023 was going to be the year that the real estate market was going to crash. It didn’t happen, so now they have extended their prediction into 2024! Which I can tell you with all certainty won’t happen. 

But let’s get into it all. What happened in the 2023 Massachusetts Real Estate Market. And what does it all mean for 2024 in the Single Family, Condo and Multi-Family Real Estate markets? 

Real quick, my name is Jeff Chubb and I am a recovering Investment banker, turned real estate agent that has sold more than a 1,000 homes. If you are planning on buying or selling a home now or in the future, then it would be a pleasure to speak with you. 

Let’s start with Single Families

We saw 36,248 Single Family homes sell in Massachusetts for an average sales price of $756 thousand dollars. 

It wasn’t a pretty year when you look at it from the sales perspective, but the market performed better than my prediction of 3% at this time last year. 

Yes, I was wrong with my prediction. I said the market was going to go up a max of 3% in 2022. I own that. But I will also point out that I was closer to being right then all of the market crashing crowd. 

Let’s start out with the sales. There wasn’t one month in 2023 that we exceeded the sales levels that we saw in 2022. Actually the closest year over year numbers we saw were in November where sales were off 9.2%. 

The 36,248 units sold was...



There is a lot of bad information about the real estate market that is being given right now… And in most cases it’s being given as opinion, rather than backed up by facts. 

For the last year and a half, I have seen countless people with rather large followings talking about how the market was going to crash. In all honesty, at what point do they have to atone for their lies, pandering and misleading? The best way to sum these guys up is equating them to the saying that a broken clock is right twice a day. 

Yes there are SOME markets around the country that have gone down. But as a whole, the Real Estate Market just took some of its biggest blows and is going to come out of 2023 looking… Okay. Let’s take a look at some of the things that these market crashers are claiming are lies. We will examine the issue and then see what the stats say. 

As we look at this all, remember that Real Estate is local. What’s going on in one market does not mean that it will go on in another market. Talking about the national real estate market is as dumb as talking about the national average temperature. 

Real quick. My name is Jeff Chubb and I am a retired investment banker turned real estate agent that has sold more than a 1,000 homes. If you have real estate questions, then I am here to help. 

If you have been around the block this year, then most likely you have heard the term “date the rate and marry the house”. Now this guy in particular is saying that this is a massive lie and that it’s a dumb concept. But let’s look...

Prepare For MAJOR CHANGES AHEAD in the Housing Market

Prepare For MAJOR CHANGES AHEAD - Housing Market Craziness

Change is constant. Especially when you look at the real estate market. 

It’s the end of the year. We had the self anointed smartest guys in the room telling us that the housing market was going to go down in 2023. It didn’t. And they are telling us more of the same that it’s going to go down in 2024. 

But the real estate market just took some of the biggest blows one could throw at it. 13 year record low in housing sales. Highest interest rates we have seen in more than two decades. A high inflation environment with slowing economic growth. 

So what’s the data saying about the market ahead? Is it a cautionary tale ahead? 

Real quick. My name is Jeff Chubb and I am a retired investment banker turned real estate agent that has sold more than a 1,000 homes. If you have real estate questions, then I am here to help. 

It’s a smaller subset of data, but the most recent nonetheless. I took the sales from December 1st through December 19th for Single Family houses in the state of Massachusetts. This totaled 1,638 closed units. So while the date range is small, it wasn’t a small sample size. 

Yes, this is Massachusetts data, But there is a good chance that if you are in a different state, that your data would look very similar. 

This data represents some of the last closings as we head into 2024. This is some of our best data to help us form opinions on what the market will look like as we head into the Winter and all important Spring Market. ...

Wall Street banned from Buying Houses?

It seems that the rich men north of Richmond have taken note that their constituents feel that housing prices are too high and that by darn it… They are going to do something about it. 

That’s why they released two pieces of legislation to deal with these greedy hedge funds driving up housing values. The two bills attacked the same route, but went at it in a different way. 

You have the “End Hedge Fund Control of American Homes Act of 2023” and the American Neighborhoods Protection Act”. It’s so cute how they come up with these names. For anyone who doesn’t think a name or title matters, then they really need to go look at the names of the legislation that our betters pass in Washington. 

IF… And that is an enormous IF. But IF one of these bills were to be passed, then would it actually do anything? Let’s take a look. 

But real quick. My name is Jeff Chubb and I am a retired investment banker turned real estate agent that has sold more than a 1,000 homes. If you have real estate questions, then I am here to help. 

We all know the deal. Affordability challenges have made it so that a lot of Americans can’t achieve the American Dream of Homeownership. But don’t worry, the Federal Government is here to help. It makes sense, because as we had discussed in a previous video, they are the majority of the reason as to why homeownership is out of reach for so many. 

Let’s talk about the End Hedge Fund Control act first. This bill would ban hedge funds from owning Single-Family houses and require them to sell at least 10% of the total number of Single Family...

High Home Prices - Who is to blame?

Higher Home Costs. Who’s to Blame

I see it or hear it pretty much every day. Home prices are too high. Because they are too high, they will need to crash. So who or what is really to blame for these nosebleed home prices? It’s not a simple answer as there are a lot of elements that make up the problem of high home prices… And by saying the problem, that is obviously in the eyes of a home buyer… because home sellers absolutely love it! 

When doing the research for this video, I even saw one Wall Street economic advisor blaming the baby boomer generation! Talk about a surface level reasoning. He felt that baby boomers getting divorced and thereby needing two houses for every couple was the reason for high prices. No. That’s not it. 

Real quick. My name is Jeff Chubb and I am a retired investment banker turned real estate agent that has sold more than a 1,000 homes and am one of the top real estate agents in Massachusetts. If you have real estate questions, then I am here to help. 

The simple reasoning is Supply and Demand. Demand is outstripping supply which is creating a low inventory environment and a market of scarcity. Any time resources are scarce, then prices go up. 

But WHY is this the case? Again, there are many foundational reasons that contribute to higher prices. It’s not just one. And I should also mention that I personally have benefited from most of them. I am not saying to get rid of them or even change them. The goal of this is to shine the light on the real culprit of why housing prices are high. Then from there the conversation can continue on if we want to fix it and how we would. 


It's Housing Inflation. Not Housing Appreciation

It’s Inflation. Not Appreciation. 

Question for you… How do you talk about prices and them going up? I mean, let’s take my Diet Coke for example. The cost of this diet coke has gone up by at least 50 cents this year. So if you and I were talking about prices, then would you say to me that the diet coke has appreciated 50 cents this year? 

Probably not. That would kind of be dumb. Then why is it that any price gains that we talk about when it comes to Real Estate are always appreciation? Wouldn’t it be fair to say that price gains for real estate are inflation plus appreciation? 

But real quick. My name is Jeff Chubb and I am a retired investment banker turned real estate agent that has sold more than a 1,000 homes and am one of the top Realtors in Massachusetts. If you have real estate questions, then I am here to help. 

I think this is the major reason that people are constantly saying there is a bubble in real estate. They see the prices going up and up and up. I mean it’s not just real estate it’s all around us. 

Check this out.

It’s a bar graph for prices for Consumer Goods and Services in the United States. 

So should we say that the cost of Hospital Services have appreciated by 99.8%? Or how about the cost of college appreciating 64.4%? I mean both are investments, right? One is an investment in our health with the other being an investment in our knowledge and thereby our future earning potential. ...