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Thursday, August 7, 2014
New Listing in Weymouth!
Thursday, July 31, 2014
How is the Housing Market today?
The local South Shore Real
Estate market is still hopping even though summer is quickly coming to a
close. Before you know it the kids will
be back in school and the market will be slowing down!
According to several Real
Estate experts the real estate markets already seems to have slowed down in
many parts of the country. First time homebuyers are not making as many purchases anymore, now at 28% down from
40%! However the good news is that home
inventory has risen, which is what we were hoping to see when the spring market
was picking up! What does that mean for
the market overall? This may drive up the home prices and make
affordable housing options for many buyers out of reach!
At the same time baby boomers
are retiring and wanting to downsize their current larger homes. However, potential homebuyers are just not in
the market for these grand scale homes.
Many potential home buyers see the current process of buying their first home as daunting! The best advice is to seek the help of a professional realtor that can help ease the process!
Where do you see the local South Shore
Market? Realtors and Potential Clients may see the market in very different
ways!!
Monday, July 21, 2014
Do you know how much you need to put down on a purchase of home?
A recent survey showed that 38% of those between the ages of 25-29 years old and 42% of those
between the ages of 30-34 years old believe that a minimum of 15% is
required as a down payment to purchase a home. A recent questionnaire
administered by Freddie Mac showed that over 50% of all respondents thought 20% was required as a down payment.
In actual fact, a buyer may be able to put down far less!
According to Freddie Mac there is a lot of misinformation regarding the amount necessary when determining the down payment for a home purchase:
“Did you know 40 percent of today's homebuyers using mortgage financing are making down payments that are less than 10 percent? And how about this: since 2010, the number of people putting down less than 10 percent for conventional loans has grown three fold. So, not only are low down payment options real, they represent a significant portion of today's purchases.”
According to Freddie Mac’s VP and Head of Single-Family Sales & Relationship Management explained further:
Letting more consumers know how down payments are determined could bring more qualified borrowers off the sidelines. Depending on their credit history and other factors, many borrowers can expect to make a down payment of about 5 or 10 percent.
There are also many down payment assistance programs that are there to help people that are in a perfect position to buy credit wise, but are not able to save enough money for that initial down payment!
You can read more about what is available here: Down Payment Assistance
If you are saving for either your first home or that perfect move-up dream house, make sure you know all your options. You may be pleasantly surprised!
In actual fact, a buyer may be able to put down far less!
According to Freddie Mac there is a lot of misinformation regarding the amount necessary when determining the down payment for a home purchase:
“Did you know 40 percent of today's homebuyers using mortgage financing are making down payments that are less than 10 percent? And how about this: since 2010, the number of people putting down less than 10 percent for conventional loans has grown three fold. So, not only are low down payment options real, they represent a significant portion of today's purchases.”
According to Freddie Mac’s VP and Head of Single-Family Sales & Relationship Management explained further:
- A person “can get a conforming, conventional mortgage with a down payment of as little as 5 percent (sometimes with as little as 3 percent coming out of their own pockets)”.
- Qualified borrowers can further reduce the down payment coming out of their own pockets to 3 percent by lining up gifts from family or grants or loans from non-profits or public agencies.
Letting more consumers know how down payments are determined could bring more qualified borrowers off the sidelines. Depending on their credit history and other factors, many borrowers can expect to make a down payment of about 5 or 10 percent.
There are also many down payment assistance programs that are there to help people that are in a perfect position to buy credit wise, but are not able to save enough money for that initial down payment!
You can read more about what is available here: Down Payment Assistance
If you are saving for either your first home or that perfect move-up dream house, make sure you know all your options. You may be pleasantly surprised!
Monday, June 23, 2014
Did you know that June is National Homeownership month?
Here are a few great Reasons to buy a home:
*Homeownership can improve the physical, mental, and financial well-being of the owner.
Homeowners experience a multitude of personal benefits following the purchase of their home. For example, research shows that both psychological and physical health is greater for homeowners, and indicates that a strong sense of overall satisfaction with life might be part of the reason. Achieving a goal one has set is important, and contributes to a feeling of self-efficacy. That translates to greater happiness and a can-do attitude that positively affects how one handles mental and physical challenges
*Homeownership can improve children’s home life and academic achievements
Children are positively affected in their home lives, personal lives, and academics when their parents own the residence. Researchers say homeownership creates a better environment for children, because it fosters emotional support and a stable, safe housing situation. The stable nature of the home in particular is linked to the improved educational outcomes of homeowners’ kids; compared to the children of renters, these students have math scores that are 9% higher, reading achievement that’s 7% higher, and behavioral problems at school are 1-3% lower.[1][3] Additionally, the children of homeowners are 25% more likely to purchase their own home one day, allowing them to achieve the physical, psychological, and wealth accumulation benefits previously mentioned for adults.
*Homeownership can increase community involvement.
Another way homeownership affects the community is through involvement. People who are invested in the area in which they live are more likely to participate in efforts to improve that community. Research shows that homeowners are more likely than other area residents to volunteer with local organizations, and be involved in local political activity[1][5].
Owning a home has immediate and long-term benefits for both the family and the community. That’s why so many good people work tirelessly to make this dream possible for a new generation of Americans, and why we are proud to support them in their efforts.
In short:
*Homeownership is a commitment to strengthening families and good citizenship.
*Homeownership enables people to have greater control and exercise more responsibility over their living environment.
*Homeownership is a commitment to community.
*Homeownership helps stabilize neighborhoods and strengthen communities.
*It creates important local and individual incentives for maintaining and improving private property and public spaces.
*Homeownership can improve the physical, mental, and financial well-being of the owner.
Homeowners experience a multitude of personal benefits following the purchase of their home. For example, research shows that both psychological and physical health is greater for homeowners, and indicates that a strong sense of overall satisfaction with life might be part of the reason. Achieving a goal one has set is important, and contributes to a feeling of self-efficacy. That translates to greater happiness and a can-do attitude that positively affects how one handles mental and physical challenges
*Homeownership can improve children’s home life and academic achievements
Children are positively affected in their home lives, personal lives, and academics when their parents own the residence. Researchers say homeownership creates a better environment for children, because it fosters emotional support and a stable, safe housing situation. The stable nature of the home in particular is linked to the improved educational outcomes of homeowners’ kids; compared to the children of renters, these students have math scores that are 9% higher, reading achievement that’s 7% higher, and behavioral problems at school are 1-3% lower.[1][3] Additionally, the children of homeowners are 25% more likely to purchase their own home one day, allowing them to achieve the physical, psychological, and wealth accumulation benefits previously mentioned for adults.
*Homeownership can increase community involvement.
Another way homeownership affects the community is through involvement. People who are invested in the area in which they live are more likely to participate in efforts to improve that community. Research shows that homeowners are more likely than other area residents to volunteer with local organizations, and be involved in local political activity[1][5].
Owning a home has immediate and long-term benefits for both the family and the community. That’s why so many good people work tirelessly to make this dream possible for a new generation of Americans, and why we are proud to support them in their efforts.
In short:
*Homeownership is a commitment to strengthening families and good citizenship.
*Homeownership enables people to have greater control and exercise more responsibility over their living environment.
*Homeownership is a commitment to community.
*Homeownership helps stabilize neighborhoods and strengthen communities.
*It creates important local and individual incentives for maintaining and improving private property and public spaces.
Thursday, June 12, 2014
The South Shore, such a Unique place to Call Home!
The South Shore is a unique and interesting place to live in!
If you grew up on the South Shore you know exactly what I mean!
Even though we love our Red Sox and consider ourselves
Boston Strong,
the South Shore has its own culture and it very distinct from
Boston’s!
- You grew up by at least one River, Lake or Farm ( if not all three). The rivers and lakes have names no outsider can pronounce, and they are far from swimmable!
- You know that Marylou’s is by far the best coffee in the world……
- But get anxiety if there isn’t a DD within eyeshot of you at all times, even if there are at least five Dunkin Donuts’ in your town it still doesn’t feel like enough!
- New York Pizza has Nothing on Classic Bar Pizza
- And love the Creamy Goodness that is Peaceful Meadows Ice Cream
- You spent at least one week down the Cape every summer!
- And of course you know that the only thing worse than regular traffic is Cape Traffic!
- Sometimes, to avoid that traffic, you chose to go to Nantasket and make the best of
sunbathing on a rock at high tide
- You drink from a Bubbler
- Which is WICKED Thirst-Quenching
- You know what a wish chip is. You know those cool folded over chips that you eat in one bite? They possess magical powers and us south shore kids have been making wishes on them since elementary school.
- It’s a “Rotary” not a roundabout or a traffic circle!
- You drive like a Masshole
and are proud of it! You have the worst
road rage of anyone you know. Anything
under 70 on the highway is slow.
- You love The South
Shore Plaza, no matter how crowded it is.
But if you’re feeling fancy, you go to Derby Street!
- You went on at least one field trip to Plimouth Plantation and you know that Plymouth Rock is nothing special.
- You went to Water
Wizz because it was close.
- You know exactly where Steven Tyler and Steve Carell’s houses are! If you’re lucky, you have even run into them in the grocery store.
- And you are a Diehard Patriots Fan! You spend summers watching the Pats practice for free and now that Gilette Stadium has it’s own mall, there’s no reason not to spend every weekend there!
**It's a great place to live and I am proud to say that I am from the South Shore!**
Monday, May 19, 2014
The Benefits of Owning a Home!
If you or your family are willing, able and ready to purchase a home,
then owning is definitely better than renting!
Here are some of the positive financial reasons to buying a home:
- You're paying for housing whether you own or rent.
Homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord - Owning is usually a form of “forced savings”.
Since many people have trouble saving and have to make a housing payment one way or the other, owning a home can overcome people’s tendency to defer savings to another day - There are substantial tax benefits to owning.
Homeowners are able to deduct mortgage interest and property taxes from income...On top of all this, capital gains up to $250,000 are excluded from income for single filers and up to $500,000 for married couples if they sell their homes for a gain. - Owning is a hedge against inflation.
Housing costs and rents have tended over most time periods to go
up at or higher than the rate of inflation, making owning an attractive
proposition.
Benefits of Buying Now:
Trulia "Buying costs less than renting in all 100 large U.S. metros… Now, at a 30-year fixed rate of 4.5%, buying is 38% cheaper than renting nationally.”
Freddie Mac "One thing seems certain: we are not likely to see average 30-year fixed mortgage rates return to the historic lows experienced in 2012…Yes, rates are higher than they were a year ago – and certainly higher than two years ago. But if you look at the averages over the last four decades, today's rates remain historically low."
The bottom line, it's a great time to buy your first home!
Tuesday, April 15, 2014
Seller Secrets For This Spring's Real Estate Market
Everyone knows it's been a very long winter,
buyers are itching to get out and start house hunting!
Spring is officially here, and the Real Estate Market is picking up!
Here are 5 market insights that will give sellers a head start!
2. Did you know that 60% of home sales happen between May and August? Putting your home on the market at the beginning of the selling season will help your chances of snagging a winning offer before buyers turn their attention back to school starting in September.
3. "The Price is Right!" Pricing is a critical component to getting your house sold. With this fluctuating market, you need to look at comps of similar homes in your area, and recency matters: make sure you’re looking back no more than 60 days. The sale price of homes that sold recently paints a much better picture of what to expect than the price of homes that sold six months ago (or of homes that have yet to sell).
4. Get a Jump Start on the Competition! Right now we’re on the cusp of prime selling and buying season, and if you list soon, you’ll have less competition than you would if you put your house on the market in May or June, when more homes will flood the market. Since it’s still early, your home can have its ‘moment in the spotlight’ more than it will when inventory increases.
5. We're in the midst of the Mobile Era! A significant percentage of buyers use smart phones to start their home search online. And that percentage is expected to rise this year as more buyers take advantage of easy access to the wealth of information online. Get in on this trend by making sure your home pops on those computer screens. Great homes with mediocre quality photos will be quickly discarded and ultimately get less showings. Sellers should insist that their agent take the time to beef up their online listing so the quality of the home jumps off the screen and gets buyers’ attention!
**By the Way: There is a KW app that can be downloaded unto your mobile phone or tablet! This allows buyers easier access to properties that they would like to view and puts your seller properties at the buyers finger tips!!
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