Spring is Here, it's the perfect time to list your Home!

Three Great Reasons to List your Home!

Many sellers are still hesitant about putting their house up for sale. Sellers still have many questions such as, where are prices headed,  where are interest rates headed? These are all valid questions. However, there are several reasons to sell your home sooner rather than later. Here are three of those reasons.

1. Demand is about to skyrocket

Most people realize that the housing market is hottest from April through June. The most serious buyers are well aware of this and, for that reason, come out in early spring in order to beat the heavy competition. We also have a pent-up demand as many buyers pushed off their home search this winter because of extreme weather. Sellers in markets where seasonal weather is never an issue must realize that buyers relocating to their region will increase dramatically this spring as these purchasers finally decide to escape the freezing temperatures of the winters in the north.
These buyers are ready, willing and able to buy…and are in the market right now!

2. There Is Less Competition - For Now

Housing supply always grows from the spring through the early summer. Also, there has been a growing desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners have seen a return to positive equity as prices increased over the last eighteen months. Many of these homes will be coming to the market in the near future.
The choices buyers have will continue to increase over the next few months. Don’t wait until all the other potential sellers in your market put their homes up for sale!

3. There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by approximately 4% this year and 8% by the end of 2015. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30 year housing expense with an interest rate at about 4.5% right now. Freddie Mac projects rates to be 5.1% by this time next year and 5.7% by the fourth quarter of 2015.
Moving up to a new home will be less expensive this spring than later this year or next year!


*Homes Are NOT lasting on the market for very long!  These are the perfect market conditions for sellers!

Massachusetts single-family home sales hit a 10-year high for February!!

The Massachusetts Association of Realtors reported that pending sales of single-family homes has hit a 10-year high for the month of February.

The number of single-family homes put under agreement increased to 3,587 last month, a 20.4 percent increase compared to the year-earlier period when 2,980 homes went under agreement. February marked the 12th-straight month of year-over-year increases and the most homes put under agreement in February since 2004, when there were 3,612 homes placed under contract. On a month-to-month basis, single-family homes put under agreement rose 13.8 percent compared to the 3,151 homes put under agreement in January.

With the market picking up fiercely, so do the bidding wars!! 

There are ways to get the property that you have your heart set on when it comes down to a bidding war.

It’s Hard to Beat Cash
All-cash offers were 28 percent more likely than financed offers to win a bidding war, sometimes even when the offer is below asking price!  A cash offer tells the homeowner that they don’t have to deal with mortgage companies or financing that may possibly fall-through!

Waving Contingency’s

In 2013, offers with a waived financing or inspection contingency were 15 percent more likely than contingent offers to win a bidding war. Standard in most offer contracts, these contingencies protect you from losing your earnest money in the event that you back out of the deal because your lender can’t approve your loan in time or if you decide you no longer want the home after the inspection. Waiving the financing contingency guarantees to the seller that you’ll come through with the money if your lender doesn’t. Like the pre-inspection strategy, a waived inspection contingency makes your offer more attractive by letting the seller know you’re not going to back out or try to negotiate for home repairs.

*However, waiving contingencies presents more risk than many buyers care to take on, so it’s important to talk with your agent about whether this strategy makes sense for you.

Pour Your Heart Out
Tugging at the seller’s heart strings by sending them a personalized letter explaining how much you love their home and how well you’ll care for it actually helps seal the deal. Compared to offers that did not include a cover letter, offers with personal notes were 9 percent more likely to win a bidding war. “Love letters work because they get the seller to relate to you on a personal level, so they see you as more than just a dollar amount,”

Which Strategy Should You Use?

Cash, if you have it!  You should always go into a bidding war with a clear idea of how much the home is worth to you, and how far you’re willing to go to win it. Don’t do anything you’ll later regret, which for many buyers includes waiving your right to negotiate the price or back out after the inspection.

The bidding war strategy ranking was determined by comparing the percentage of offers that used a given strategy successfully (won the bidding war and closed) with the percentage of offers that did not use the strategy and still won the bidding war. While all five strategies improved buyers’ chances of success, some did so to a greater extent than others, and some tactics packed a bigger punch in one city than another.

You have to Decide, How Much do You really Want the House??

Look What The D'Entremont Group is up to now!!!

The D'Entremont Group is proud to be a sponsor of a great program designed to help all of Our Local Heroes!!

Homes for Heroes was created following the tragic events of September 11, 2001, Homes for Heroes® is the nation’s largest hero savings program.  We affiliate with Realtors® and lenders who agree to provide significant rebates and discounts to those who serve our nation and its communities every day.


What are the benefits of the program?

25% of the Gross Commission paid to your Homes for Heroes Realtor Affiliate
Discounted lender fees on purchases or refinances with Homes for Heroes preferred lender
Discounted closing fee with Homes for Heroes preferred closing company
Discounted home inspection with Homes for Heroes preferred home inspection company


Watch the Homes for Heroes Story
Check Out Real Hero Testimonies

https://www.homesforheroes.com/affiliate/william-d%27entremont 

What's the next step after you have found the perfect home?

You have a mortgage preapproval.
You have chosen a Realtor to work with.
You've done your homework and figured out what you want from a home and which neighborhood you would like to live in.
You have found a home that you have fallen in love with!
Now What????

The offer, the inspection and the negotiations begin!

How to Make an offer on a home?

Your Realtor should be guiding you every step of the way through this process!

While much attention is paid to the offering price of a home, a proposal to buy includes both the price and terms.
In some cases, terms can represent thousands of dollars in additional value for buyers — or additional costs. Terms are extremely important and should be carefully reviewed.

How Much?
You sometimes hear that the amount of your offer should be a certain  percent below the seller’s asking price or an amount less than you’re really willing to pay. In practice, the offer depends on the basic laws of supply and demand: If many buyers are competing for homes, then sellers will likely get full-price offers and sometimes more. If demand is weak, then offers below the asking price may be in order.


How Do You Make an Offer?
In a typical situation, you will complete an offer sheet that your Realtor will present to the owner and the owner’s representative. The owner, in turn, may accept the offer, reject it or make a counter-offer.
Because counter-offers are common (any change in an offer can be considered a counter-offer), it’s important for buyers to remain in close contact with their Realtor during the negotiation process so that any proposed changes can be quickly reviewed.

Next is The Home Inspection
Structural inspections are particularly important. During these examinations, an inspector comes to the property to determine if there are material physical defects and whether expensive repairs and replacements are likely to be required in the next few years. Such inspections for a single-family home often require two or three hours, and buyers should attend. This is an opportunity to examine the property’s mechanics and structure, ask questions and learn far more about the property than is possible with an informal walk-through.

What about home Owners Insurance?
When Do You Get Insurance?
The time to obtain insurance and warranty coverage is at closing, so speak with your Realtor or insurance broker prior to closing. Be sure to ask about limitations, costs, deductibles and “endorsements” (additional forms of coverage that may be available)



What Kind and How Much?
There are various forms of insurance associated with home ownership, including these major types:

• Title Insurance: Purchased with a one-time fee at closing, title insurance protects owners in the event that the title to the property is found to be invalid. Coverage includes “lenders” policies, which protect buyers up to the mortgage value of the property; and “owners” coverage, which protects owners up to the purchase price. In other words, owners coverage protects both the mortgage amount and the value of the down payment.
• Homeowners insurance: Provides fire, theft and liability coverage. Homeowners policies are required by lenders and often cover a surprising number of items, including in some cases such property as wedding rings, furniture and home office equipment.
• Flood insurance: Generally required in high-risk, flood-prone areas, this insurance is issued by the federal government and provides as much as $250,000 in coverage for a single-family home, plus $100,000 for contents. Local REALTORS® can explain which locations require such coverage.
• Home warranties: With new homes, buyers want assurance that if something goes wrong after completion, the builder will be there to make repairs. But what if the builder refuses to do the work or goes out of business? Home warranties bought from third parties by home builders are generally designed to provide several forms of protection: workmanship for the first year, mechanical problems such as plumbing and wiring for the first two years, and structural defects for up to 10 years. Home warranties for existing homes are typically one-year service agreements purchased by sellers. In the event of a covered defect or breakdown, the warranty firm will step in and make the repair or cover its cost. Insurance policies and warranties have limitations and individual programs have different levels of coverage, deductibles and costs. For details, speak with REALTORS®, insurance brokers and home builders.

* The essential idea behind various forms of real estate insurance is to protect owners in the event of catastrophe. If something goes wrong, insurance can be the bargain of a lifetime.

FINALLY!!
THE CLOSING!  How exciting!

In practice, closings bring together a variety of parties who are part of the transaction. For example, while the history of property ownership has been checked, it’s possible that the records contain errors, unrecorded claims or flaws in the review itself, thus title insurance is necessary. At closing, transfer taxes must be paid and other claims must also be settled (including closing costs, legal fees and adjustments). In most transactions, the closing agent also completes the paperwork needed to record the loan.

One of the best parts of settlement is that buyers and sellers need to do very little.
Before closing, buyers typically have a final opportunity to walk through the property to assure that its condition has not changed materially since the sale agreement was signed.
At the closing itself, all papers have been prepared by closing agents, title companies, lenders and lawyers. This paperwork reflects the sale agreement and allows all parties to the transaction to verify their interests. For instance, buyers get the title to the property, lenders have their loans recorded in the public records, and state governments collect their transfer taxes. The buyer receives the keys and the seller receives payment for the home.

What Comes After You’ve Bought a Home  

You’ve done it. You’ve looked at properties, made an offer, obtained financing and gone to closing. The home is yours. Is there any more to the home buying process? Whether you’re a first-time buyer or a repeat buyer, you’ll want to take several more steps. Those papers you received at settlement are extremely valuable, so hold on to them! In the short-term they can help establish tax deductions for the year in which the property was purchased. In the future such papers will be important for tax purposes when the property is sold, and in some cases, for calculating estate taxes.
Also at closing, determine the status of the utilities required by the home, items such as water, sewage, gas, electric and oil service. You want utility bills to be paid in full by owners as of closing, and you also want services transferred to your name for billing. Usually such transfers can be done without turning off utilities. your realtor can provide you with contact numbers and related information.
About two weeks after closing, contact your local property records office and confirm that your deed has been officially recorded. Such records are public notices that show your interest in the property.

Moving In
It is generally understood that sellers will leave homes “broom clean” when moving out. This expression does not mean “vacuumed” or “spotless.” Broom clean makes sense because it means the house is ready to be painted and cleaned.

Your Home, Your Money
For most owners a home is the largest single asset they hold, so it makes sense to protect that asset.
Many owners make a photo or video record of the home and their possessions for insurance purposes and then keep the records in a safety deposit box. Your insurance provider can recommend what to photograph and how to secure it.
You want to maintain fire, theft and liability insurance. As the value of your property increases such coverage should also rise. Again, speak with your insurance professional for details.


Lastly, enjoy your home. Owning real estate involves contracts, loans, and taxes, but ultimately what’s most important is that home ownership should be a wonderful experience. Enjoy!

Are You Ready to Become a HomeOwner?

While it may be acceptable to snap up a pair of shoes on an impulse, buying a home requires thoughtful planning and decision-making. Whether you’re becoming a homeowner for the first time or you’re a repeat buyer, buying a home is a financial and emotional decision that requires the experience and support of a team of reliable professionals including a Realtor, a lender, a lawyer and a range of other individuals.

Why Do You Want to Buy? 

The emotional part of the decision comes into play when you think about why you want to move. If you’re a first-time buyer, you need stability in your career and the desire to commit to living in the same community for five to seven years. You should want to establish roots in a neighborhood and look forward to decorating as you please without requiring a landlord’s permission. Purchasing a home is a lifestyle choice that requires you to think about how you like to spend your time and the type of community where you want to live, such as a rural area without nearby neighbors, a highrise building in a city or a home within a planned community with recreational amenities. The more you understand your priorities for a home, the easier it will be for you to narrow your real estate decisions. Homeownership can also be a powerful way to increase your personal wealth for you and your family, since you’ll be building equity in your home as you pay off your mortgage.

Are Your Finances Ready for Homeownership? 

While your dream home may or may not be within your reach right away, you can take steps to become a homeowner the moment you earn your first paycheck. In order to qualify for a mortgage loan, you’ll need good credit, a pattern of paying your bills on time and saving money, and a maximum debt-to-income ratio (your gross monthly income compared to the minimum payments on all recurring debts) of 43 percent. Some lenders have stricter guidelines, so the lower your debt-to-income ratio, the better your chances of a loan approval. While loan programs are available with low down payments of 3 to 5 percent, and a few programs offer no down payment at all, you’ll still need some savings to pay for closing costs and moving expenses, a deposit on a home, and for cash reserves after you buy. Saving money and preserving or improving your credit history are essential elements to homeownership.

What Can You Afford to Buy? 

Housing prices and rents vary from one location to another, but you can use a rent-vs-buy calculator to estimate the difference between your current rent and buying a home. In some markets buying a home can cost the same or even less than renting. Remember, when you’re a homeowner you need to include homeowners insurance, property taxes and homeowner association dues in your housing costs. You can also use a home affordability calculator to help you estimate what you can pay for a home. You should also think about your plans for the future and how you spend your money, along with your comfort level with a mortgage payment. A lender will tell you how much you can borrow, but that lender won’t know how much you spend on travel or golf or your plans for potentially reducing your work hours when you have a family.

Once you’ve thought through the emotional and financial aspects of becoming a homeowner, your next steps should be to find a reliable, experienced Realtor to become your partner in the home buying process and to meet with a reputable lender who can discuss your options for financing your purchase.

2. Get a Realtor 

Buying and selling real estate is a complex matter. At first it might seem that by browsing online sites you could quickly find the right home at the right price.

But a basic rule in real estate is that all properties are unique. No two properties —even two identical models on the same street — are precisely and exactly alike. Homes differ and so do contract terms, financing options, inspection requirements and closing costs. Also, no two transactions are alike.

In this maze of forms, financing, inspections, marketing, pricing and negotiating, it makes sense to work with professionals who know the community and much more. Those professionals are the local REALTORS® who serve your area.

How Do You Choose a REALTOR®?

The best place to find a local REALTOR® is from realtor.com®’s extensive listing of community professionals and properties. Other sources include open houses, local advertising, websites, and of course the best one of all, referrals from your neighbors, friends and family!

In many cases buyers will interview several REALTORS® before selecting one professional to work with. These interviews represent a good opportunity to consider such issues as training, experience, representation and professional certifications.

What to Expect From a REALTOR® 

Once you select a REALTOR® you will want to establish a proper business relationship. Each REALTOR® will explain the options available, describe how he or she typically works with individuals and provide you with complete agency disclosures as required in your state.

Once hired for the job, the REALTOR® will provide you with information detailing current market conditions, financing options and negotiating issues that might apply to a given situation.

Remember: Because market conditions can change and the strategies that apply in one negotiation may be inappropriate in another, this information should not be set in stone. During your time in the marketplace REALTORS® will keep you updated and alert you to each step in the transaction process.

3. Get a Mortgage Preapproval

Few experiences are more frustrating than falling in love with a home that’s for sale and then discovering you can’t afford to buy it. The majority of first-time buyers need to finance their home purchase, and a consultation with a mortgage lender is a crucial step in the home buying process because you need to understand your purchasing power before you begin to look at homes.

What Is a Loan Preapproval? 

Lenders offer borrowers a prequalification letter or a preapproval letter, but most Realtors® recommend that you get a preapproval before shopping for a home. A prequalification letter will state the amount a lender thinks you can borrow based on your income and your credit profile without any actual documentation. Mortgage lending standards have tightened since the housing crisis and all loans now require full documentation and verification of income and assets, so most sellers will only accept an offer from a buyer with a full preapproval letter that’s based on verified information.

Sellers aren’t the only ones who benefit from you obtaining a loan preapproval, though. You’re better off with a preapproval for two reasons:

• First, you’ll have gone through the credit check and paperwork requirements for a mortgage, so you’ll have clarity about your ability to finalize a home purchase. If the lender finds a problem with your credit or an error on your credit report, you’ll have time to fix it before making an offer. 
• Second, since your documentation will already be in place, a loan preapproval based on everything other than the actual value of the home you’ll purchase will speed up the process once you make an offer. 

How to Find a Lender 

Your Realtor® should be able to recommend a lender or two for you to interview, but you should also ask friends and colleagues for someone they trust. You can check for a loan officer’s license and read reviews online to be sure you’re working with someone reliable. As a first-time buyer, you should call a few lenders to find someone experienced with first-time buyer needs who can possibly help you identify special loan programs in your area that could help you get into a home.

What to Expect From Your Lender 

The best lenders take a collaborative approach with borrowers and explain all your loan options. When your lender checks your credit report, you should get feedback about ways to improve your credit profile and recommendations for how to handle your money between the time you apply for a loan and settlement day. Your lender should provide advice about when to lock in your loan rate and discuss the pros and cons of various loan programs.  

What Your Lender Expects From You

Your lender needs you to be honest about your finances and responsive to all requests for additional information, no matter how unimportant it may seem to you. The more cooperative you are with a lender, the easier the loan process will be. You should be prepared with tax returns, W2s, bank statements, employer names and addresses, and your current landlord’s information.

Your lender will generate a loan approval based on your debt-to-income ratio and credit score, but you should also consider your budget and your own comfort level with a payment. There’s no need to borrow the maximum amount you qualify for, particularly if you know you plan to spend money on items that don’t show up on your credit report such as club memberships or ski trips. Your careful planning and preservation of your emergency funds are important for responsible, long-term homeownership.

Next Week we will discuss the mortgage options you have and the process for making an offer!

888 Broadway Street, Hanover, MA - Just Listed Virtual Tour

Schedule a Showing/Request Info Bill D'Entremont Keller Williams 781-964-4353 Questions? Schedule a Showing! MLS#: 71625727 Licensed In: MA Information valid for the date of this posting only. Please contact us for the most current information and status of this property.

888 Braodway Street Hanover, MA Scan with your smartphone & take me with you. Description Photos Maps & Local Schools Virtual Tour Print Brochure Search More Properties Welcome to Broadway! $ Click for current price 7 BEDROOMS 4 BATHROOMS ( 4 full ) 5096 Square Feet This stately Colonial has so much to offer. Highlights Include Large tiled center island kitchen with beautiful cabinets and granite tops, formal dining room with Pocket doors and chair rail, formal living room, family room with gas fireplace, cathedral ceilings and hardwood floors. The upstairs offers 5 bedrooms, large master suite with 3 closets, separate office/workout room and bath with jacuzzi tub. Separate 2 bedroom in-law with hardwoods & open floor plan. Beautiful 4 season room with sliders overlooking the courtyard and large back yard. Central air, and a 3 car heated garage. If you need space then this is the perfect home. L2L

10 Step Guide To Buying a House!!

1. Are you Ready to Become a Homeowner?Whether you’re becoming a homeowner for the first time or you’re a repeat buyer, buying a house is a financial and emotional decision that requires the experience and support of a team of reliable professionals

2. Get a Realtor
In the maze of forms, financing, inspections, marketing, pricing and negotiating, it makes sense to work with professionals who know the community and much more. Those professionals are the local REALTORS® who serve your area.

3. Get a Mortgage Pre-approval
Most first-time buyers need to finance their home purchase, and a consultation with a mortgage lender is a crucial step in the process. Find out how much you can afford before you begin your home search.

4. Look at Homes
A quick search on realtor.com® will bring up thousands of homes for sale. Educating yourself on your local market and working with an experienced REALTOR® can help you narrow your priorities and make an informed decision about which home to choose.

5. Choose a Home
While no one can know for sure what will happen to housing values, if you choose to buy a home that meets your needs and priorities, you’ll be happy living in it for years to come.

6. Get Funding
The cost of financing your home purchase is usually greater than the price of the home itself (after interest, closing costs and taxes are added). Get as much information as possible regarding your mortgage options and other costs.

7. Make an Offer
While much attention is paid to the asking price of a home, a proposal to buy includes both the price and terms. In some cases, terms can represent thousands of dollars in additional value — or additional costs —  for buyers.

8. Get Insurance
No sensible car owner would drive without insurance, so it figures that no homeowner should be without insurance, either. Real estate insurance protects owners in the event of catastrophe. If something goes wrong, insurance can be the bargain of a lifetime.

9. Closing
The closing process, which in different parts of the country is also known as “settlement” or “escrow,” is increasingly computerized and automated. In practice, closings bring together a variety of parties who are part of the real estate transaction.

10. What's Next
You’ve done it. You’ve looked at properties, made an offer, obtained financing and gone to closing. The home is yours. Is there any more to the home buying process? Whether you’re a first-time buyer or a repeat buyer, you’ll want to take several more steps.


Over the Next Couple of weeks, we will be delving more into details about each of these steps.  They sound simple, however sometimes you do hit a bump in the road, that's why you need a trusted, experienced realtor on your side throughout the entire process.  Stay Tuned for more details to come!!