Jun 5, 2014 | Home Seller Tips
Selling your home or property in a slow real estate market isn’t easy, but it can be done. Pricing your property right is the key to selling it within a reasonable amount of time.
Sometimes this means lowering your price while it’s on the market. Of course, you want to get as much money as possible, so how do you know when it’s time to lower your asking price?
No One Is Looking At Your Home
If you expect your home to sell, you need to have people look inside it. Most buyers search for homes within a certain price range. If you aren’t getting any showings, chances are it’s because your home is overpriced compared to other homes in the area. In this case, you may need to lower your price so buyers will look at your home.
Comparable Homes Are Selling For Less
Your home will sell for whatever a buyer is willing to pay for it. If the homes around you are selling for less than your asking price, it may be time to lower it. No one is going to pay more for your home when they can get the same thing for less.
Pay attention to what homes are selling for in your community and adjust your price accordingly.
You Are Getting A Lot Of Negative Feedback
Buyers are a great source of information about other homes in your price range. After all, they’re spending their free time looking at countless homes similar to yours.
Your real estate agent can find out exactly what buyers think of your home. Perhaps homes comparable to yours have updated kitchens or more attractive landscaping. With this knowledge, you can choose to either remodel or lower your price.
Call or email me if you have any questions. I can help you sell your home or property in any real estate market.
Jun 4, 2014 | Real Estate
Burglaries are a concern for many North Americans. Although some communities report more break ins than others, everyone should be aware of their home’s safety and security. Protecting yourself and your home from thieves can contribute to a better quality of life.
Know And Connect With Your Neighbors
There is much to be said about knowing your neighbors. By establishing connections with the residents around you, you’ll be better equipped to spot suspicious people. When neighbors look out for other members the community, they give thieves less opportunity to case homes unnoticed.
You may consider getting your neighbors together to exchange contact information, or even form a community watch program.
Protect Your Privacy By Locking Up
Thieves often gain entry to homes through an unlocked door or garage. Make sure that when you leave your home you lock up behind you. Give yourself an extra moment or two to walk through the house and make sure that everything is properly shut and locked.
You may also consider reinforcing ground level windows and doors with additional safety locks. Wrought iron bars can mean better security for ground level windows out of street view, as they are popular targets for burglars and thieves.
Always Know Who’s Knocking
Installing a peephole on the front door works wonders for a person’s peace of mind. It’s important to know who is at your doorstep so you don’t open your door to an intruder. Burglars have been known to knock on a target’s door to see if they’re home. This also gives thieves important information, such as whether you have pets, deadbolts or security systems.
Be wary of suspicious visitors that come knocking at your door, and write down their description in case you end up needing it later.
Security Systems To Protect Your Home
Monitored security systems are a great way to feel good about your home security. There are many products available at a variety of different price points. These systems are easily installed by a professional, and are monitored by a security company. The monthly cost of the service will be offset by savings on your home insurance, and is well worth the protection the systems provide.
Stop Break Ins While You’re On Vacation
If you’re planning on going out of town, keep your plans on a need to know basis. Don’t let people know you’re away on your answering machine greeting or with auto respond email. These may be suitable for the workplace, but they are not safe for your personal messaging systems.
Have a neighbor gather your mail and take out your garbage to keep your home looking lived in while you’re away. You may also consider lighting and electronic timers to give the illusion that someone is home.
Spare Yourself From Burglaries
Spare keys can save the day, but can also tempt thieves. If you have a spare key hidden, make sure it’s hidden well in the back of the house. If you do use it, don’t return it to its hiding spot right away, and change its place from time to time. A better idea may be to leave a spare key with a neighbor or with a friend.
Security is an important component to a good quality of life. By taking simple steps to improve the security of your home, you can feel safe knowing that your house is protected from thieves.
Call your trusted local real estate agent to learn more about home security, or to find the safest neighborhoods in your area.
Jun 3, 2014 | Uncategorized
Real estate in Massachusetts is conveyed by a written document known as a deed. The deed must be signed by the seller or owner of the property, who is referred to in the deed as the grantor. The buyer, or person acquiring the real estate, is known as the grantee. The grantor transfers their right of ownership using one of three types of deeds. Each type of deed provides a different level of promises or covenants to the grantee. These promises were once meant to offer protection and guarantees against flaws in the grantors chain (or right) of ownership of the real estate. Grantors typically make the same promises or covenants to their buyer as they received from their seller when the real estate was granted to them.
The three types of deeds in Massachusetts are:
Warranty Deeds. A warranty deed provided the most assurances to the grantee, it includes four basic promises to the grantee. The first promise is that the seller of the real estate owns the real estate in fee simple, and that the grantor has absolute ownership of the property. The second promise is that the property is free from any encumbrances, liens or defects which would limit the grantees interest in the real estate, with exception to limits specifically stated in the deed. Third, the warranty deed guarantees that the grantor has the legal right to sell or transfer the property to grantee. Fourth the grantor promises to defend against any legal claims of ownership against the grantee that arose during the grantor’s ownership or prior to the grantor’s ownership. (See M.G.L. Chapter 183, Section 10 and 16.)
Quitclaim Deeds. The assurances of a quitclaim deed are more limited. The first promise is similar to the second guarantee of the warranty deed, which states that the grantor has not caused any encumbrances on the property other than those specifically listed in the deed. Unlike a warranty deed, however, the quitclaim only covers encumbrances made by the grantor and does not cover any preexisting encumbrances, restrictions or defects.. In addition to the first assurance, the quitclaim deed guarantees that the grantor will defend against any legal claims regarding problems with the title that arose during the grantor’s ownership period but not prior to the grantor’s ownership. Essentially a quitclaim provides the same protections as a warranty deed except it limits how far back in time the grantor is liable for any problems resulting from the title. (See M.G.L. Chapter 183, Section 11 and 17.)
Release Deeds. A release deed offers the least amount of protection to a grantee. It does not guarantee anything and serves only to transfer a title with whatever right the grantor may have to the property. With a release deed the grantor does not make any assurances o promises that the title is valid. A “Fiduciary Deed” is a Release Deed and is generally used by a grantor who is an Executor or Administrator of an estate to convey the decedent’s property. It is also used by a Trustee of a Testamentary Trust, a Guardian, or Conservator. The Fiduciary must have power to convey title either through a will or trust document.
If you have specific questions about the conveyance of title or about deeds in Massachusetts please contact our office.
Jun 3, 2014 | Real Estate
Building a tree house is a time honored tradition for many families. One of the benefits of having a yard is the ability to build a tree fort for your children.
If you’re planning to build a fun fort for your kids, here are seven steps to help you create the ultimate tree house.
The Ultimate Plan For The Perfect Playhouse
The best projects are often the most thought out. Sit down with your children and lay the plans for their tree house. Let them contribute their thoughts and ideas so they feel a part of the planning process.
Although you won’t need an engineering degree to build a quality tree fort, it’s important to calculate all the measurements and specifications of the build.
A Solid Foundation For Your Tree House
Prepare the location for your future tree house by trimming away any precarious branches or boughs on the tree you plan to build on. Ensure that your tree house will be well supported, and reinforce any questionable spots.
If your tree fort is being built from the ground up, make sure you’re working with a level foundation.
Have The Right Tools For The Job
Make sure you have all the tools you’ll need to construct your tree house. Power tools and construction equipment can be borrowed from friends and neighbors or rented from your local hardware store.
When the time comes to gather your building supplies, be creative and consider re-purposed supplies. These materials are less expensive and add character and charm. You can find recycled and salvaged items at various recycled construction supply companies and through online classifieds like Craigslist.
Construct Your Tree House With Confidence
When you’re constructing your tree house, make sure it’s structurally sound. Watch tutorials online – you’d be amazed at the things you can learn from watching YouTube videos!
Make sure to measure twice and cut once. Using the proper cutting tool for each cut will help you achieve cleaner, more precise cuts. Also make sure to obtain any permits that may be required for the project.
A Personalized Theme Encourages Creativity
Choose a theme that relates to your child. If they love fairies, use that as the inspiration for your design. Pirate forts and superhero lairs are perfect places to spark imaginative play and creativity.
Incorporate cannons, cupboards and ropes with pulleys to create a unique and fun space for your children to play.
A Colorful Paint Job Brightens The House
When the walls are up and the building is done, it will be time to choose paint colors. Bright colors are a great way to brighten and liven up an outdoor space.
You could even consider creating a mural. Choose something in fitting with the theme. This is something that you and your child can do together, or that you can do on your own as an added surprise.
Perfecting Your Child’s Play Space
Once your tree house is built, it’s time to get it ready for play. Decorate the space with fun decor, and functional items. Throw pillows and rugs can add color and personality to a child’s play space. Window coverings can be made from scrap fabric or flat bed sheets.
Creating a tree fort for your child is a memorable experience and a labor or love. A unique space that sparks imagination and nurtures creativity is a wonderful gift to give a child.
Call your trusted local real estate agent today to find the perfect yard for your ultimate tree house.
Jun 2, 2014 | Mortgage Rates
Last week’s economic news was fairly quiet due to the Memorial Day holiday on Monday and no scheduled news released on Wednesday.
Home Prices Post Modest Gains, But Growth Rate of Home Prices Slows
Tuesday’s release of the S&P Case-Shiller Home Price Index for March showed that home prices are edging up, but at a slower pace than last year. Home prices increased by 12.40 percent year-over-year as compared to February’s reading of 12.90 percent year-over-year.
Analysts expected prices to fall as construction picks up and more homes are listed for sale. Lower demand due to strict mortgage lending standards and high home prices continued to keep many moderate-income and first-time home buyers on the sidelines.
FHFA Reports Home Prices Increased By Over 6 Percent
FHFA, the agency that oversees Fannie Mae and Freddie Mac also released its home price index for properties connected with Fannie Mae or Freddie Mac owned or guaranteed loans. As of March, FHFA reported that home prices increased by 6.50 percent year-over-year as compared to February’s year-over-year reading of 6.90 percent.
Consumer confidence rose by 1.30 percent for May with a reading of 83.0, which matched expectations.
Last Thursday’s news included the weekly Jobless Claims report, which showed 22,000 fewer jobless claims than expected with a reading of 300,000 new jobless claims reported. Thursday’s reading was also lower than the prior reporting period’s reading of 327,000 new jobless claims filed.
The four-week rolling average of jobless claims also showed improvement with 11,250 fewer claims filed and an average reading of 311,500 new weekly jobless claims filed. This was the lowest number of jobless claims filed since August 2007. Analysts look to the four-week rolling average as more accurate than the weekly readings, which can be volatile.
U.S. jobs have increased by 200,000 jobs per month over the last three months reported.
Pending Home Sales Up for Second Consecutive Month
Pending home sales in April rose by 0.40 percent from the March reading of 97.4 to 97.8. The April reading was the highest for pending home sales since November. Pending home sales provide an estimate of future home sales.
Lower mortgage rates likely supported expanded home sales. Freddie Mac reported that the average rate for a 30-year fixed rate mortgage was 4.12 percent, a drop of two basis points from last week. The rate for a 15-year fixed rate mortgage fell by four basis points to 3.21 percent.
The average rate for a 5/1 adjustable rate mortgage was unchanged at 2.96 percent. Discount points were unchanged at 0.60 for a 30-year fixed rate mortgage and 0.50 percent for a 15 year mortgage. Discount points dropped from 0.40 to 0.30 percent for a 5/1 adjustable rate mortgage.
What’s Ahead
In addition to construction spending for April, this week’s economic news includes several reports that can provide insight about employment and consumer spending.
News events include Motor Vehicle Sales for May, The Fed’s Beige Book report, and Thursday’s usual release of Freddie Mac’s average mortgage rates and weekly Jobless Claims. Non-farm Payrolls and the national unemployment rate for May are also scheduled for release
