Showing posts with label Massachusetts Real Estate. Show all posts
Showing posts with label Massachusetts Real Estate. Show all posts

Friday, December 25, 2009

Selling a Massachusetts Home



Selling a home today is not like it used to be back in the middle of this decade. Quite honestly when you needed to sell a home back then it was as easy as selling an ice cream cone to a kid on a warm Summer day. Boy has the landscape changed!

When you are selling a home today in Massachusetts you better be darn sure you do your homework on who will be representing you. Selecting a great Realtor to market your home should be one of your 1st considerations.

As someone who has been selling Real Estate for the last twenty four years, I can tell you with certainty that the agent you select will have the greatest bearing on whether you will be happy and successful. In Real Estate there are some very good agents and some that are not so good.

In my eyes there are three traits that you should looking for when selecting a Realtor. These traits include the ability to price a home properly, a well designed marketing plan, and someone with effective communication skills.

Lets face it we all want our homes to sell for the most money. It is human nature. We all think our home is better than the guy that just sold down the street. Many home owners make the biggest mistake by going with the agent that gives them the highest price.


Guess what...there are unprofessional agents that know some people make decisions based on emotion and not logic. They tell you what you want to hear to get your business. Once they have you under contract and the home has been on the market for a while they start to badger you for price reductions or worse say nothing. You may be thinking what is the point of having an overpriced home? Some agents just don't care because they are drawing calls from buyers that could be making them sales elsewhere.

So how do you avoid making a poor decision picking a Realtor? Here are three tips:
  • Ask good Real Estate interview questions. Look for a Realtor that has a good track record. Past success is usually a good indicator of future success. Ask for references from the agent. I would suggest asking for some of their most recent sales and not from some hand picked list that you know is going to give them glowing reviews.

  • Look over the market evaluation very closely. Do the comparable sales look similar to your home? Remember you need to be looking at this information through the eyes of a buyer. If a similar home down the street had a brand new top of the line kitchen and your home does not, don't expect to be getting the same price.

  • Picking a Realtor based on the price they give you is really double trouble because more often than not you are stuck with a lousy agent and an overpriced home. Even an outstanding agent will have difficulty selling an improperly priced home. See why Massachusetts homes expire.

The 2nd trait that most good Realtors have is the ability to market well. Today this includes the ability to market online. The days of people finding homes by looking in the classifieds and the local magazine rack are over! Almost 90% of all buyers find their homes by doing some kind of online search.

As a home seller you should be looking for a agent that has a very strong web presence. By web presence I don't mean putting it into the Multiple listing service (MLS) and Realtor.com. While these things are important they are what every Realtor does. The Realtor you select should have their own website and it should come up in local Real Estate searches. The ability for the site to come up in searches is of the utmost importance. An agent can have the most gorgeous website out there but if it does not come up in searches it will not help YOU sell your home.

For example if I am a buyer and I am going to be looking for homes in Hopkinton, Holliston and Westboro. I am probably going to go to Google and punch in something like:
  • Hopkinton MA Real Estate
  • Holliston MA homes for sale
  • Westboro MA homes
Or something similar. An agent that can come up on the 1st page of Google for these terms knows what they are doing, as these are the most competitive terms to rank for.


When doing these kind of searches today you will also notice that the agents that really know their way around the web 2.0 have started a Real Estate blog to market their properties. Google loves blogs because they are not static like websites. The best blogs are updated on a weekly basis and because of this get quite a bit of "Google juice". Here is what one of my Massachusetts Real Estate blog looks like.

Besides a website and a blog you want to make sure that your home is found in the places where the most consumers visit. One of the things I am most proud of as an agent is my ability to have my clients homes or condo's all over the place online. Here is a list the most visited Massachusetts Real Estate sites for selling a home.

Of course the Realtor is going to need your cooperation as well. In a competitive market you want to make sure your home stands out from the competition. Homes that are in less than ideal condition will take a much bigger beating in a buyers market. At the very least you want to be making sure the place is clean and uncluttered.

Lastly, you want a Realtor who communicates with you on a consistent basis. Most sellers want to know what is going on with the process of selling their home. Who wouldn't! Make sure the agent has a plan to keep you informed. Do they call every agent after the home is shown to see what are the agents/buyers thoughts?

How is this information relayed back to you? One of the things I do for my clients which they love is a feedback report that can be viewed online. We give the client a password to the site and they are the only ones besides us that can see it. It keeps them in the loop on what buyers are saying and they appreciate it! It helps us as well because if we see a pattern in the comments we can make suggestions to address the issue.

In conclusion, I am going to leave you with a compilation of the top ten tips for selling a Massachusetts home. What you will be reading is a list of things to consider that I have already mentioned here, along with others that are expounded upon in much greater detail.

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About the Author: The above Real Estate information on selling a home in Metrowest Massachusetts 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. Bill has helped people move in and out of Metrowest Massachusetts for the last 24+ Years.

Bill services the following towns in Metrowest MA: Hopkinton, Milford, Southboro, Westboro, Ashland, Holliston, Framingham, Mendon, Upton, Hopedale, Medway, Franklin, Grafton, Northbridge, and Uxbridge MA.

Sunday, January 18, 2009

Real Estate Articles Worth Reading



Like reading about Real Estate? The following articles are some of the better Real Estate posts I have created at my other Real Estate blog Massachusetts Real Estate Voice.

Top Ten Mistakes To Avoid When Selling Your Massachusetts Home
This is one of my favorite Real Estate articles. An in depth explanation is given on some of the most common pit falls to avoid when you are selling your home in Metrowest Massachusetts or anywhere for that matter.

Real Estate Capital Gains When Selling Your Home
The article explains the most up to date laws surround selling your home and the Capital Gains tax laws.

Selling Your Home Does Not Have To Be A Mystery
The article explains how properly pricing your home is the most important consideration for achieving success with your home sale.

Social Marketing, Short Sales, And The Seller I Never Met
An explanation of how properly using social networking along with having a strong internet presence can go a long way in helping your clients sell their homes.

Assessed Home Values Rarely Equal Fair Market Value
An explanation why the assessed value of your home has very little correlation to the fair market value.

USDA Loans Mortgage Option For Low To No Down Payment
What is a USDA loan? Who Qualifies? Why is the USDA loan a good mortgage option for those with little or no down payment.

Energy Saving Tips For The Winter Months
A guide to some of the best things you can do to save money around your home in the Winter months.

Deed In Lieu Of Foreclosure and Short Sales
An explanation of how a deed in lieu of foreclosure and a short sale can help a home owner avoid foreclosure.

Foreclosure Avoiding It Through A Short Sale Or Loan Modification
This Real Estate article gives the definition of a short sale and also how a loan modification can help a home owner avoid foreclosure.

Selling Your Home In A Buyer's Market
Tips on selling your home in a buyer's market including picking the right Realtor who will create a dominating online presence, pricing your home property, and making sure that it is in tip top showing condition.

Best Remodeling Projects Cost V.S Value For Your Home
A look at some of the best projects you can do to your home and what the projected return on your investment will be. The data is taken from the National Association of Realtors.

Tax Deductions To Remember When Getting A Home Loan
Just purchased a home? These tips will help guide you to make sure you remember the possible tax deductions come April 15th.

Massachusetts FHA Mortgage Loans
A review of the FHA loan program in Massachusetts and why it is a good loan program for those that do not have a large down payment.

When To Lock Your Mortgage Interest Rate
There are always decisions to be made when buying a home. One of them is when to lock your mortgage rate. The article gives some opinions on when it makes sense.

5 Surefire Ways To Turn Off A Home Buyer
A look at some of the things that can prevent you from selling your home and how you can avoid them.

Handling Multiple Offers For A Seller In Real Estate
Negotiating multiple offers can be a tricky subject. The goal is to get the best terms and conditions for you seller clients. Here is a look at how it is down and some of the important considerations.

Preparing Your Massachusetts Home For The Spring Selling Season
A look at some of the better things you can do to get your home to stand out from the competition in a competitive Real Estate market.

Buying a foreclosed home or potential foreclosure property
Are you considering buying a foreclosed property? Why not after all there are plenty of them all around the country and they can typically be bought at a discount to the present market value.

Low cost home improvements when selling your home
In a very competitive Real Estate market one of the things that is vital to your success is how well your home shows in relation to the rest of the inventory for sale. There are quite a few simple things that you can do to improve your chances and maybe put a few extra dollars in your pocket at the same time.

Massachusetts Short Sales
Everything you need to know as a buyer or selling regarding short sales in Massachusetts.


I hope you have found some of these Real Estate topics interesting.

Have a question about Real Estate? Feel free to shoot me an email and I will try to help if I can or point you to someone who can.
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About the Author: The above Real Estate articles were 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 Realtor. 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.

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
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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.

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:


Milford


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%


Medway

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%


Northbridge


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%


Hopkinton

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.