Tuesday, July 29, 2008

Framingham Massachusetts Short Sale 78 Fenwick Drive

78 Fenwick Drive in Framingham Massachusetts has been reduced to $569,900 and is now a short sale. This Framingham MA home is only one year old and was the builders personal residence. Below you will see a slide show presentation on this property. Some of the nice features of this home include a two story foyer and family room, beautiful Cherry kitchen with granite counters, a front to back living/dining room, and a nice master suite with lavish bath. The home offers 2790 square feet and sits on a half acre in the Fenwick Farms neighborhood.

This Framingham short sale is an exceptional value. For more information see Framingham Real Estate

*** Update...Another successful Short Sale completed. This Framingham Short sale closed on November 21, 2008 f0r $555,000. Considering a short sale on your home? Get in touch I would welcome the opportunity to help you out. ***

Sunday, July 27, 2008

Holliston Home For Sale 1035 Highland Street, Holliston MA

Terrific new construction in Holliston Massachusetts being built by Rinaldi Corporation Inc. This new home has a dramatic open floor plan by well known architect Frank Betz. There are nine rooms, four bedrooms, 3.5 baths and a 3 car garage. There is approximately 3100 square feet and the lot is 2+ acres. There are very few new homes for sale in Holliston. Come see this new home and you will not be disappointed with the quality! The home is listed at $674,900. There is still time for a home buyer to customize.

Visit Holliston Real Estate for more information.

Sunday, July 20, 2008

What is a Short Sale?

I have been getting this question asked quite often lately with Real Estate in Massachusetts taking the proverbial "big hit".

For those that have been hearing the term "short sale" and don't quite understand what it means, a short sale is a legal lender approved solution designed to assist those home owners who are financially strapped to get out from under their mortgage debt.

A short sale is negotiated through the mortgage holder of an owners home where by the mortgage holder agrees to take less than what home owner owes on the property.

An example of a short sale would be if a home owner owes $400,000 on their current mortgage and their home is only worth $375,000. The lender in this example would agree to take a short fall of $25,000 at closing. In many cases the mortgage holder may completely wipe out the debt and the home owner does not have to repay the 25k.

The home owner benefits in this situation because they get out of a sticky financial mess without going to foreclosure which can seriously damage your credit.

You may be thinking why would a mortgage holder want to allow a short sale? There are a number of reasons, most notably the cost involved for the lender going through a foreclosure proceeding. The mortgage holder when all is said and done can easily spend $40,000-$50,000 going through a foreclosure. This avenue can save the lender money they would otherwise lose.

With property values continuing to drop in Massachusetts there are many more lenders who will consider the short sale route.

As a Realtor representing a seller in a short sale scenerio there some issues you need to be aware of. See Ethics in a short sale for an explanation.

When selling your home and you know you are going to be faced with a short sale make sure you choose to work with a good Realtor who has some working knowledge of short sale procedures! A good Real Estate lawyer in your corner who has worked with short sales would also be an important consideration.

For a more in depth view of some of the other things worth mentioning regarding short sales see Massachusetts Short Sale Realtor.

Here are a few other short sale articles worth reading:

Avoiding foreclosure through a short sale or loan modification
Short sales and deed in lieu of foreclosure
Massachusetts short sale problems to avoid
About the Author: The above Real Estate information on what is a short sale was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356.
Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise!
For Metrowest Massachusetts Real Estate and homes see Metrowest Mass Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.
I service the following towns in Metrowest Massachusetts: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Franklin, Douglas, and Framingham MA.
Click here to view Bill Gassett's Real Estate profile.

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Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 23 years.

Monday, July 14, 2008

Milford Real Estate 20 Free Street Milford MA

This home at 20 Free Street in Milford Massachusetts was just reduced by 40k and offers an excellent value at the current list price of $299,900! This Milford home is now a Short Sale and is subject to 3rd party approval for all terms and conditions. The home is only 4 years old and is located in a quite neighborhood near the center of Milford. There are 3 bedrooms, 2 full baths, and a two car garage. Some of the many highlights include a beautiful kitchen with Granite counters, Cathedral family room with fieldstone fireplace, and finished lower level with 2nd fireplaced family room. The home shows mint! See the RealBird listing presentation below.

For more information on this home and others visit Milford Real Estate

**** Update - this Milford Short Sale closed on 12/11/08 for $299,900. Another successful Short sale completed. If you are considering a short sale and would like to speak to a Realtor that has experience with closing short sales please get in touch. ***

Here are two articles worth reading:

Foreclosure Avoiding it Through a Short Sale or Loan Modification

Deed in Lieu of Foreclosure and Short Sales

Wednesday, July 9, 2008

RE/MAX Executive Realty Dominates Hopkinton Market Share

Through June of 2008, RE/MAX Executive Realty continues to dominate the Hopkinton Massachusetts Real Estate market share. By clicking the small graph above you will see a blown up readable version of the chart.

These statistics are taken from The MLS Property Information Network. The statistics include market data of homes, condos, multi family's, and land sold. When you look at the chart you will notice at the top that there are three categories of transactions. Listed & sold - meaning the company was involved as both the listing broker and selling broker. This by the way is the goal of every Realtor but happens much more often with a RE/MAX company. For an understanding of why this is the case see RE/MAX Executive Realty Hopkinton The other two categories are listed but sold by another company and sold another companies listing.

You will notice by that in all three categories RE/MAX Executive Realty is the leader. We are almost double the number of units sold as our nearest competitor Century 21 Commonwealth.

The market share drops off dramatically after the top two companies with Star Realty only capturing 7.29% of the market share.

The Real Estate market in Massachusetts has become very challenging. Selecting a good Realtor to represent you is vital. One of the more important factors today in selecting a Realtor is how well they market online. You want to have an agent that will create an online presence for your home. Over 85% of all buyers find their home online and the number is growing!

When considering who to choose to represent you in your home sale try using Google as a tool. Google the agents name. If you don't see pages and pages of results, you have found yourself a Realtor with very little to no internet presence.

I would ask yourself this question: If a Realtor does not know how to promote themselves online how could you possibly expect them to promote your home well?

Forestside Estates Hopkinton Massachusetts

Forestside Estates
in Hopkinton Massachusetts is one of the better more established luxury subdivisions in town. One of the things that is unique about the Forestside neighborhood is that there are no two homes that are alike. Unlike many of the newer Hopkinton neighborhoods that have five or six designs that are repeated multiple times, Forestside is characterized by homes with architectural distinction.

This neighborhood which was started back in the early 90's had a developer who did not build homes himself. He sold lots to local builders who then constructed the homes. There are probably close to a dozen different builders who built homes in this Hopkinton subdivision. Forestside Estates is located off of School Street on the west side of Hopkinton. It is located a few miles from the 495 interchange.

One of the beauties of Forestside is the spectacular views afforded by the homes along John Matthew Road and Gina Drive. You can see for miles. The views are especially terrific in the fall when the leaves change...it is breathtaking! You can see all the way out to Westboro and can also see Lake Whitehall in Hopkinton.

The price point in Forestside ranges from about $700,000 to $1,000,000 for the majority of the homes. There have, however, been a few custom built residences that would commend far in excess of that. There is one home that is built on three separate lots and is rumored to cost in excess of 4 million to build. Most of the lots range in size from 1 -1.5 acres.

I just sold the residence pictured above at 6 John Matthew Road on July 10th for $945,000. The home was on the market for a little over a year and dropped substantially in price, as the local Real Estate market continued to correct from a run up in prices over the last 10 years.

I actually had a few offers on this home that were substantially higher along the way. The sellers, like a few of my clients, did not want to come to grips with the reality of the Real Estate market. Sometimes even the best advice is not listened to. Oh well, if we all had crystal balls we would never make a bad decision!

I have a passion for Real Estate and love to share my internet marketing expertise! I would welcome the opportunity to earn your business.

For Massachusetts and Hopkinton MA Real Estate and homes visit my website at Hopkinton Real Estate.

Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service the following towns in Metrowest Massachusetts: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Douglas, and Framingham.

Monday, July 7, 2008

Springwood Estates Hopkinton Massachusetts

Springwood Estates
in Hopkinton Massachusetts is one of the more popular neighborhoods in town. One of the big attractions with Springwood Estates is that it is the largest subdivision in Hopkinton. When people relocate from other parts of the country they are not used to our smaller neighborhoods in Metrowest Massachusetts. In other areas of the country it is not unusual to have 300+ homes in a neighborhood. Most of the subdivisions in the Metrowest area have 50 homes or under. The relocating buyer is able to take advantage of the larger neighborhood that they are accustomed to at Springwood.

The home pictured above is a resale that my team just sold at 15 Gibbon Road in an older section of the Springwood neighborhood. The home sold for 5k over the asking price of $729,900.
You can read more about this Springwood Estates Hopkinton home and view interior photos by clicking the link. The price point in Springwood ranges from the 600's all the way up to a million+ for the new homes that are presently being built by Ron Nation of 20th Century Homes.

Thinking of selling your home in Hopkinton or other Metrowest town? Visit Hopkinton Real Estate

My website is highly indexed by google and is set up for the marketing of my clients homes.
Here are some of the Metrowest Real Estate shows for properties I am currently marketing.

Wednesday, July 2, 2008

Hopkinton Massachusetts Homes Just Sold 12 Claflin Street

Going against what typically happens in this crazy upside down Real Estate market my team mates Chuck Joseph and Diane Corsi, just closed on this home at 12 Claflin Street in Hopkinton Massachusetts for full price. The home closed at $360,000 on June 26.

This home was a rare find for Hopkinton as it was in the down town area on a side street with no traffic. It was not your typical village colonial but a well maintained ranch with three bedrooms and 2.5 baths. The home was situated on a 3/4 acre private lot which is also difficult to find.

Homes that sell at full price or close to it are harder to find in this market but it can be done! Having a good Realtor or even better a team representing you can go a long way towards a successful sale.

Marketing a home to the masses is critical in this market. Proper pricing and a high level of exposure online are the two biggest factors in getting your home sold today. Over 85% of all buyers find their home online and the percentage continues to grow.

You can see all the exposure I give to my clients at Real Estate marketing in Metrowest Massachusetts.

Thinking of selling your home in Hopkinton Massachusetts? Check out my highly indexed Real Estate website at Hopkinton Massachusetts Real Estate. You will find the site on the 1st page of Google for most Real Estate search terms related to Hopkinton and many other Metrowest Massachusetts communities.

Tuesday, July 1, 2008

Home Foreclosures Hitting Record Highs in Massachusetts!

The number of foreclosed properties in Massachusetts hit a record high in May! According to the Warren group, a publisher of Real Estate information, foreclosure deeds jumped by 107.5 % from May of 2007 to May of 2008. The number of foreclosure homes went from 677 to 1405.

Below are the statistics for a few of the towns in the Metrowest and Greater Worcester area:


YTD petitions to foreclose 2007: 57

YTD petitions to foreclose 2008: 90

* A jump of 57.89%

YTD foreclosure deeds 2007: 5

YTD foreclosure deeds 2008: 42

* A jump of 740%


YTD petitions to foreclose 2007: 11

YTD petitions to foreclose 2008: 14

* A jump of 27.27%

YTD forecosure deeds 2007: 2

YTD foreclosure deeds 2008: 6

* A jump of 200%


YTD petitions to foreclose 2007:

YTD petitions to foreclose 2008

* A jump of 31.82%

YTD foreclosue deeds 2007: 11

YTD foreclosure deeds 2008: 15

* A jump of 36.36%


YTD petitions to foreclose 2007: 17

YTD petitions to foreclose 2008: 19

* A jump of 11.76%

YTD foreclosure deeds 2007: 1

YTD foreclosure deeds 2008: 5

* A jump of 400%

Most people are aware that the local Real Estate market peaked in the Spring of 2005. Since that time we have seen the local Real Estate market continue to slide. This is know as a "buyers market". There are many home sellers today that have still not come to the realization that their home is not what it was worth a few years ago. Unfortunately, most peoples homes are not worth the same as they were 6 months ago! Market values have not hit bottom either. If I were a betting man, I would venture to guess we have a ways to go before we hit the bottom.

We have been lucky locally as there really has not been that many foreclosed homes. With the number of foreclosed homes on the rise and home values continuing to drop, it really makes sense as a home seller to be smart when you get an offer on your home. Losing a deal over a few thousand dollars is usually a big mistake.

If the foreclosure market does increase to the point where there are many more bank owned homes hitting the market, we will see a bigger drop in home values. When a similar or better bank owned home down the Street is on the market for X, don't expect that you can put your home on the market for X + 20k and expect to sell it. It is not going to happen. Short sales can also drag the Real Estate market down as well and we will be seeing more of that too.

The take home message is to make sure you make a wise decision when you think about holding out for a few extra $$$. Don't cut off your nose despite your face in this challenging market.