Bristol County MA Real Estate News & Information

20% DOWN PAYMENT with DODD-FRANK ACT

2011-05-06T16:41:00Z

A new lending proposal, referred to as the Dodd –Frank Act, based on the Senators that have submitted this proposal, will require that new purchases of real estate have a down payment of 20% or more. This new proposal will be required for both first time home buyers as well as move up buyers. Financial institutions that do mortgage funding with less than 20% securitized will be required to retain 5% of the credit risk of that loan. Needless to say, that cost will be passed along to consumers. “Are you kidding?”

The motivation is clearly to address the deflation of property values, risk of foreclosure and the necessity to revisit a nationwide real estate bail out again in the future. According to CoreLogic’s recently released statistics, approximately 2.7 million borrowers made down payments of less than 20% in 2010. Of today’s current homeowners, 10.8 million have outstanding mortgages with less than 20%; an additional 11 million currently owe more than their home is worth. That means that 24.5 million people could never be move up buyers under this proposal.

The National Association of Realtors is strongly opposed to this measure noting that it would take the average household 10 years to save for a modest 10% down payment. Even lending institutions understand the fatal flaw in this logic but need to come to grips with a loss in equity should our economy endure another real estate downturn in the future. Is this the time to pass such radical regulation? Consider that much of the foreclosure stock is being erased by purchasers who are grateful to purchase at adjusted home prices but as a majority, have done so with less than 20% as a down payment.

The Federal Home Administration has been the agency where borrowers will flock to seek relief from the 20% down rule. At this time, the FHA requires only a 3.5% down payment for qualified buyers. This agency however has begun to withdraw from being the agency of last resort since the risk associated has become too great for this one institution to bear. Industry advocates with a vested interest in vibrant home sales will enjoin on the battle front to convince decision makers that we need to find common ground so that a whole new generation of buyers as well as move up and side-ways buyers are able to be continued home purchasers.

For more information visit our Goodwin Realty Group website

Staging your Home -- From the Outside In!

2011-04-14T14:19:00Z

Most people understand the notion of staging your home’s interior prior to marketing but do you realize that staging begins outside? Why spend both time and money beautifully staging the interior if your home doesn’t invite the customer in! For this reason, it is important to look at the exterior of your home as critically as you do inside, and perhaps more importantly. The buyer’s decision to enter your home and the emotion it invokes makes a big difference.

In warm weather, tidy the yard removing distracting items such tree limbs, broken plantings and dead flowers. Be sure the lawn is weed-free and freshly manicured at all times. Mulch bushes and flower beds. Dress up the front with colorful, flowering plants. Be sure to address areas such as the walkway and driveway as well for uneven areas of wear or intrusion of moss or other natural flora. Powerwash the exterior of the house or paint as needed. For a double bonus both inside and out, wash windows until they sparkle. Make sure the gutters are properly connected and cleaned of leaves and other debris. Move children’s toys and yard equipment to the rear of the house. Check to be sure that light bulbs in lighting fixtures are working properly. Take a walk around the exterior of the house and note any item that may need repair such as rotted window sills, vinyl siding that has come undone, compromised or broken seals on windows and trim or siding that either needs replacement.

In inclement weather, be sure that walkways and stairs are clear of snow and ice. When possible, clear dirt and sand away from these same areas. Make sure that your driveway is plowed and wide enough to allow customers to safely and easily get in and out of their vehicle. Check that your house street number is prominently displayed or large enough for viewing. Keep your ‘for sale’ yard sign upright and cleared of snow or leaves.

When you have concluded all the exterior primping, ask your real estate sales agent to take pictures from different angles and at different times during the day. Walk to the front of your house and view your home as a potential buyer would do. Note that shutters, mailboxes, steps, windows, roof, siding and lighting all come together to give an impression of the condition and maintenance of the interior of the house.

For more information contact us at: Goodwin Realty Group

Massachusetts Insurable Real EstateTitle vs Marketable Real Estate Title

2011-03-07T20:15:00Z

With the Savings and Loan crisis in the 1980’s and 1990’s, a refinancing boom in 2003-2005 and now with the ongoing foreclosure debacle, it is becoming increasingly difficult to be assured that your home purchase will be delivered free and clear without title defects. It is easier to spot physical defects such as encroachments but will improperly discharged mortgages or bank reassignments be discovered?

Because Title Insurers have noted the complexity of real estate, two types of holding Title have emerged as a result--INSURABLE TITLE and MARKETABLE TITLE. In the following paragraphs we’ll explore what they mean for the home buyer and which one affords more protection.

A marketable title is the “gold standard” and is a title that has no known defects. This type of title accounts for the majority of title policies issued.

An insurable title is a title that may have issues that prevent it from being delivered clean, clear and marketable but not so quirk some that it would prevent a Title Insurer from insuring. In short, the known defects are “acceptable”. Without this type of title many properties would not be able to sell. Here are some examples of when an insurable title may be used: a tax sale in a chain of title, a series of property lot line errors, pool, septic system, barn or other structure encroaching on a lot, a missing or deceased owner or heir, an old mortgage not properly discharged, unreleased liens. These are overlooked and the title becomes “insurable” when a Title Insurer is willing to accept the deficiencies and write the policy. The Title Insurer of course is motivated to pick up this policy by noting the limited level of risk. The exception will be noted in the coverage section of the resultant Title Policy.

There is no requirement that a property convey without title problems—and in fact there are some rare circumstances where properties are sold with major title defects. This of course may not be the case with mortgaged money as lending institutions have imposed their own restrictions. The job of the closing attorney in many cases has been to resolve as many title difficulties as possible. The benefit being that the “baggage” of the known title defects is not simply passed along to the next owner but rather addressed at the earliest occurrence. The value of “insurable” title is that many difficult properties eventually find their way to the closing table instead of being tied up for an endless amount of time until their issues are fully resolved.

Visit our website for more information!

Massachusetts Title Insurance for Real Estate Properties

2011-02-28T19:55:00Z

In the past, to “sell” a home in Massachusetts and nationwide, the Seller simply needed to deliver a newly constructed deed to the new home buyer. New home owners would safeguard this treasured document until their eventual sale. Through the years and with the complexity of zoning regulation, family dynamics and mortgages, this paper deed needed to be publically acknowledged to render its validity. Hence the ‘recording’ of the deed at the municipality’s Registry of Deeds. Here in Easton, MA, our Registry is located in Taunton, which is the registry for all of Bristol County. Just recently they have added a satellite location in Attleboro.

As our society became quick paced and sales of homes were more frequent—a bygone era of passing the farm along to the next generation—the need for a form of home protection for good title was instituted. Title insurance as it is called, was created to give comfort that the new property was conveyed a good, clear title, i.e. free from claim, encumbrance and defect. Not only was this insurance for the new home owner but also for the lending institutions that were rapidly turning over property after property in a faster moving market. This insurance then became a lending requirement by the lending institutions as a way to protect their collateral against true or erroneous claim. A split of the title insurance emerged. One form is a mandatory title insurance policy for the lending institution, paid by the borrower/home buyer and accounted for on the HUD settlement sheet. The second form of title insurance is a policy that covers the new owners whose interest is not only for the mortgaged amount (as required by the lending institution) but the entire purchase amount.

Because humans are responsible for creating deeds, title searches, recording and plot surveys and are subject to error, it is highly advisable to purchase both the bank policy and the owner’s policy to protect your biggest investment against mistake.

Visit our website for more information!

Winter Open House Draws out Real Estate Buyers with Cabin Fever

2011-02-22T19:39:00Z

Successfully selling real estate in New England, Massachusetts or even our local area of Easton, Massachusetts has much to do with the weather. Predictably if there is snow on the way or heavy snow on the ground, the general public shies away from typical house showings.

The weather this year has been incredibly complex with major snowstorm followed successively with yet another major snowstorm. Add to that unusual melting creating dangerous ice and the possibility of getting the public out to view homes before the crocus’ bud seemed near impossible. Therefore it would only be reasonable to conclude that an open house during this time would be a planned disaster.

On a recent February weekend, this Easton, MA Realtor held an open house on both a Saturday and Sunday (from 11 to 2 p.m.) for an average but clearly well priced and well presented home that would be perfect for first time home buyers. Naturally I hoped this would yield a potential buyer and a good turn-out. On Saturday, generally the lighter of the two weekend days, the open house attracted over 15 families. This was triple the best expectation! In anticipation of Sunday’s open house, double that number brochures were printed. At one time I counted 12 cars in the driveway and street. Needless to say those brochures were consumed with more than half the time of the open house remaining.

While this can be counted extremely successful ---multiple full price offers—the conclusion I reach is far more important. Almost everyone that came out had no problem disrobing winter gear and footwear. Cabin fever and pent up home buying frustration propelled most to come out and look around. With one successful home buyer, that leaves a potential 30-40 still looking. That gives me pause! It could very well be that this is the “sign” for real estate market recovery we have cautiously been looking for these past few years.

Visit our website for more information!

Easton, Norton, Mansfield, Foxboro, Taunton, Raynham, Attleboro & North Attleboro Real Estate Market Statistics.

2011-01-26T16:02:00Z

We are happy to announce a new feature that has been added to our website! You can now view Real Estate Market statistics for Easton, Norton, Mansfield, Foxboro, Taunton, Raynham, Attleboro & North Attleboro. The information includes the Average List Price History of Homes for sale in these towns as well has historical and current data related to the number of homes for sale in these areas. Check it out and let us know what you think! Today would be the perfect time to poke around here since we are getting snowed in AGAIN! Stay warm everyone!

http://www.goodwinrealtygroup.com/Real_Estate_Market_Stats.html

Home Inspection – What it does and does not do!

2010-12-07T15:56:55Z

The National Association of Realtors recommends having a home inspection as part of the home buying process. It usually takes place within 10 days after the Offer being accepted and generally prior to the signing of the Purchase and Sales Agreement.

The home inspection should address 3 major areas:

The home inspection should include a visual examination of the readily accessible physical structure and major interior systems of a residential building. The inspection is non invasive.
During the home inspection the inspector should discuss the conditions of the home with the client.
The inspector should provide the client with a report. Areas that may have concealed damage should also be noted.

The home inspection or home inspector should not:

Report on the market value or marketability of the property

Advise the client about the advisability of purchasing the property

Determine the cost of repair of any item noted in the report

Offer to make and/or perform any repair or provide any remedy

Cite specific building codes

For a more detailed description of home inspection prohibitions and the Massachusetts Standard of Practice 266 CMR please go to www.state.ma.us/reg/boards/hi

We work with many great home inspectors. Please check out our Concierge List . All home inspectors are required to be licensed.

REAL ESTATE AGENT GOES CHRISTMAS TREE SHOPPING

2010-12-07T13:53:00Z

While shopping for our Christmas tree with my family this weekend, I reflected that this event bares many similarities to my profession as a real estate agent. I know this may be a little far-fetched and secular but allow me a few festive moments.

Our ritual began with all family members scoping out the grounds for a potential candidate at which time all tree nominees are subject to a unanimous vote resulting in the final selection—the coveted Christmas Tree. Walking around the tree farm I noticed many trees, tall and overgrown had obviously been “on the market” far too long. Some tagged with orange bands were clearly “under contract”. Others appeared to be requiring tender loving care or a badly needed haircut. Our internal compass guided us to the far reaches of the tree farm where we expected to find the “choice” trees. Instead we stumbled upon a new subdivision of Christmas Trees “under construction”.

I don’t think we were overly fussy, we had our “want and desires” clearly carved out before we started the process however despite the size of the tree farm, the available inventory accounted for the greatest difficulty in finding the perfect tree.

I noted that each tree had its own unique make-up. No two trees were quite alike having different smells, needles and color and some with a prime sunny location, others in the shadow of other trees, resulting in their scraggy appearance. I realized too that despite all the differences and irregularities, they would all find a loving family--just ask Charlie Brown!

After much discussion our final decision was made! As a “qualified buyer”, there still was sticker shock as our “premium tree” didn’t appear to be any different than the rest. And yes, there was a twinge of buyer’s remorse as the saw blade gently touched the base of the tree! Tying and bundling our purchase, we excitedly discussed how we would then “improve” the tree when we got it home, lights and decorations that is.

As we made our last steps heading to the car, there was one lowly tree that we passed repeatedly in our search. With a little sunshine and time, it had promise. The vendor suggested we tag it for next year. My investment opportunity was replaced by a “nay” vote saying we’ll take our chances right back here, same time next year.

Maintaining Your Home in Easton, Taunton, Norton & Surrounding areas.

2010-11-22T15:46:00Z

Things You Need to Know About Maintaining Your Home

All Preventative Maintenance: Hire a trusted and capable handyman that can help with household items, both big and small. You can do much of the maintenance yourself, but with busy schedules life gets in the way of good intentions. Refer to our Concierge List for handymen we recommend or are highly recommended by our clients. Keeping up with minor, relatively inexpensive preventative maintenance can save you thousands of dollars.

HVAC Care: For smooth running systems and your family’s air quality, change the filters in your forced hot air heating system and your central air conditioning system. Keep track of the minor signs of water seepage or moisture of your water heater, indicating wear and replace when necessary. Contract to have your heating and hot water system serviced yearly. In addition have a yearly maintenance program for your central air system. Chimney and wood burning stoves need to be serviced from time to time as well. Refer to our Concierge List.

Water and Moisture: Keep up with the caulking around your kitchen and bathroom areas. This will prevent potential water damage and mold.

Clear gutters of leaves to prevent water running over the gutters against the house or too close to the house which could result in damage to the trim and siding. Improperly maintained gutters may also redirect water into the basement.

Look for and replace trim boards and siding that have water damage.

As cold weather approaches, shut off your outside water spigot from the inside and then open the spigot from the outside insuring there is no water remaining in the pipes. Water must be blown out of your sprinkler systems and pipes leading to your outside pool. Refer to our Concierge List.

Other Equipment & System Maintenance:

Sump pumps , water filters, well pumps, smoke detectors, carbon monoxide detectors and all appliances all need to be checked annually to avoid equipment failure. Private water systems need to be serviced and private septic systems need to be cleaned out according to your private sewer service plan.

Outside Decks and Walkways:

Decks made of wood need to be sealed periodically to extend their life. Decks made of composite need to be cleaned annually. Walkways need to be maintained for their appearance as well as for their safety.

"Trapped in Real Estate"...Easton MA Real Estate

2010-11-22T15:43:00Z

Among the many definitions of the word, Webster’s Dictionary defines “trapped” as “a situation from which escape is difficult or impossible”. This is exactly how many of my customers have been describing their real estate experience for the past two years.

Take Mark and Jane (real people with their names changed), who purchased their home in 2004 expecting to remain there for a few years with their eventual goal to then move-up to their dream home. When those few years drew near, they called asking for me to “list their home for sale”. Their dream home was simply a bigger home for their growing family, more land around them and to locate a home on a less traveled street. Their expectations were not unusual or uncommon.

They are the typical home owner today. Strategically putting a 20% down payment on the home they currently own, combined with sweat equity of home improvements or anticipated home appreciation, they were right on target for their planned “move-up”. What a wonderful time to purchase real estate reports the media---home prices are rock bottom and interest rates are the lowest in 50 years.

Unfortunately the recession of the past several years has erased any possibility of home appreciation. Gone too is that nice 20% down payment they originally made on this home. And their sweat equity of a kitchen remodel, bathroom improvements, new roof and exterior landscaping has not added the value that they squarely intended.

Selling means that they may just barely break even after all settlement charges are complete. Therefore they are left with no down payment monies for their next home. Refinancing is equally distressing as the comparable sales indicate that the value needed for their new loan is not supportable. If they choose a “short sale” option, the credit blemish prevents them from a purchase for 2 to 4 years going forward. Yes, they are TRAPPED!

My customers have come to me seeking professional advice. I applaud them--this family has done all the right things. It’s devastating for me to inform them that the best solution for them is to wait. If doing all the right things has this as its “just reward”, is there little doubt that we have got to come up with a better solution than waiting for values to increase?

To my customer, “take consolation by knowing that a huge majority of the population share your situation”. Having been here before, our real estate market will mend and will improve.

MORTGAGE RATES and FICO CREDIT SCORES

2010-10-16T12:41:58Z

Your FICO (Fair Isaac Corporation) score or “credit score” is more important than ever. With real estate mortgage defaults being historically high in the past few years, lenders are moving to an era of greater scrutiny. The FICO score is a three digit number from 300 - 850 mathematically calculated at a particular point in time to determine your risk factor as a credit applicant. This score can be delivered quickly giving lenders/vendors an opportunity to deliver approval to you.

It is interesting to note that securing those low advertised interest rates is directly related to your FICO credit score—the more favorable your FICO score (closer to 850), the more likely you will be considered for the better interest rate and similarly the further away from 850 your score, the less likely that you will be offered the best interest rate.

The five factors used to calculate a FICO score are:

35% - payment history

30% - amounts owed

15% - length of credit history

10% - newly opened accounts and inquiries

10% - mix of credit cards, retail accounts and loans

FICO scores exclude the borrower’s age, race, color, religion, national origin and marital status. They also exclude where the borrower resides, the borrower’s salary, occupation, employment history, rental agreements, child support obligations and interest rates.

Currently real estate lenders have established the minimum low threshold of 620 as the score for lending purposes. Below this level a lender has decidedly agreed that the candidate is a higher risk and may not be granted a mortgage. By knowing what contributes to a healthy credit score you will be a more empowered consumer and make better decisions for your financial future..

Hardy Mums Planted in Front of Many Easton, MA Homes and Neighborhoods

2010-10-16T12:36:00Z

On my way to Starbucks for morning coffee at an early morning hour, I spotted Roberta Hobaica planting mums outside the entrance of her neighborhood, Sweet Meadow Estates in Easton, MA. http://www.goodwinrealtygroup.com/EastonMA.html

Roberta indicated that it was a fall ritual that residences of this Easton neighborhood did to show pride in their homes and in their neighborhood.

Many Easton, MA neighborhoods practice this fall even. Several organize community picnics and block parties to get better acquainted with their neighbors. Families are always involving their children in efforts to clean up areas where trash has collected.

A community’s physical and social qualities translate into a higher market value of your home.

Goodwin Realty Group wants to say a special THANK YOU to those who contribute to make Easton, MA a wonderful place to call home!!

What has happened to the Easton MA Real Estate market since the First Time Home Buyer Tax Credit expired?

2010-09-16T16:21:00Z

One of the requirements of the First Time Home Buyer Tax Credit incentive mandated properties had to be under contract by April 30, 2010 in order to qualify. What has happened to home sales since this incentive to purchase expired?

A recent Article from the Massachusetts Association of Realtors dated August 24, 2010, indicates that homes sales are down for the first time in a year as median prices increase. Is that true for single family homes and condos in Easton, MA.?

We compared the statistical data of single family home sales in Easton, MA. for the months May, June, July and August 2009 and 2010. Only 1 month out of the 4 from 2009 to 2010, have the numbers decreased. What is significant is the increase in average home sale prices in 2010.

The average sale price has increased slightly as well for condo sales in Easton, MA. even though the number of condo sales as dropped in all 4 months of 2010.

So, what does all that really mean? Does it mean that a $300,000 home in 2009 is now a $320,000 home in 2010? We do not think that is the case. As a result of first time homes being sold, it has allowed the sellers of those homes to purchase higher priced homes. For single family homes in Easton, MA, the number of homes priced over $500,000 increased significantly from 2009 to 2010. In 2009 there were only 4 homes sold over $500,000. In the same time period in 2010, there were 22 single family homes sold over $500,000. It is the increase in this higher price bucket that is skewing the data to indicate that home prices are increasing.

GoodwinRealtyGroup.com

Five Things You Need to Know When Buying a Home in Easton MA

2010-08-10T19:38:00Z

Five Things You Need to Know When Buying a Home in Easton MA

Money Magazine Rated Easton MA 37th for Best Places to live in US. The list, which is compiled annually, takes into consideration factors like unemployment rate, low crime, good health care, fiscal strength, top-notch schools and other factors.

Goodwin Realty Group suggests that you know the town of Easton is located 30 minutes from Boston, 45 minutes from Cape Cod and 45 minutes from Providence making this a commuter dream location. We are serviced by major routes 495, 95, 24 linking to these metropolitan areas. In addition, there is ease of access to Acela and the commuter rail line.

The largest single family neighborhoods in Easton MA are Chestnut Knoll, Tanglewood Estates, Sierra Hills, Spring Hill, Summer Heights, Split Rock Estates, Camelot Estates, Union Village, Easton Woods, Heritage Glenn Estates, Hillington Estates, Rockland Bay Estates, and Sweet Meadow.

Know that Easton does not currently have town sewer. To buy a home in Easton, you are protected by Title V certification, which provides that the private sewer system is in good working condition. Typically this certification is given to the new buyer at closing by the seller of the property. Easton allows for the continued use of a cesspool or a private sewer system providing it meet Title V regulations.

Know that Easton MA is a wonderful place to call “home” with a fine school system, miles of conservation land to protect against overbuilding and a rich architectural and agricultural history.

Stay tuned for additional information related to purchasing in an over 55 developement and condominium complexes.

Five Things You Need to Know When Selling a Home in Easton MA

2010-08-10T19:27:00Z

Five Things You Need to Know When Selling a Home in Easton MA

Know what to expect during the Easton MA home selling process. A detailed view of the entire process upfront will give you the ability to plan, schedule and avoid surprises.

Know how to go about finding the best Realtor to help sell your Easton MA home. You’re looking for someone that is honest, ethical, and hard working, someone that has sold homes similar to yours in the past, a full time agent, one that continually seeks to be educated and kept up to date with the latest technology and a Realtor that is committed to providing the marketing to get the job done! Ask friends for referrals, then check out their testimonials and biography on their website to see if they are the Realtor that meets your goals.

Know all the costs involved in the selling process. As a seller, you may want to acquaint yourself with the US Dept of Housing and Urban Development Settlement Statement known better as the HUD settlement form which details all the closing expenses. We also have provided an article on Seller Closing Costs.

Know the strategy in pricing your Easton MA home “right”. Listen carefully to your Realtor and ask questions, probe, drive around and look at comparable homes. Be thoughtful and realistic.

Know the “right” time to sell your real estate in Easton MA. In most cases life circumstances will drive the decision to sell your home, if that is not the case, sell your home when the inventory of comparable homes is at its lowest.

New Listing! - $484,900 - 25 Channel Center, Unit 1006, Boston, MA

2010-08-10T15:59:00Z

Click Here for More Information!

New Listing! - $89,900 - 109 Oak Lane, Brockton

2010-08-09T18:13:00Z

Click Here for Details!

New Listing! - $314,800 - 2 Cains Hill Drive, Taunton, MA

2010-07-01T17:18:00Z

Click Here for FULL Details!

ATTENTION!! Oil Burning Heating Systems – New MA Regulations Effective July 1, 2010

2010-07-01T16:20:00Z

If you are selling your home and even if you are buying a home, the folks at Goodwin Realty Group, think you’ll want to take notice of the new heating system regulation for oil burning systems. On July 1, 2010 there is a new regulation (Chapter 453 of the Acts of 2008). In an effort to eliminate costly and environmentally dangerous mishaps, this Massachusetts law is designed to address this issue.

The new regulation requires that all 1-4 family homes with oil feed lines delivering oil to the burner be encased in a protective slee
ve, not underground and not imbedded in concrete. Alternatively a home owner may opt to remedy this by installing an “oil safety valve” coming directly off the oil tank and located at the bottom where the feed line leaves the oil tank. In addition to the above requirements, the law addresses a major change making it mandatory that insurance companies that write homeowner’s policies offer “oil clean up” as an optional purchase for homeowners.

In 1991, new heating and fire regulation codes were upgraded therefore most homes built after 1991 or with heating systems upgraded after 1991 will be in compliance. However homes built prior to 1991 or not having significant heating system updating, will most likely need to be modified.

Unlike regulatory requirements that precede this one, there is no clear idea of who will regulate this new law. It is believed that once in common practice, real estate appraisers, the Fire Department (when checking for smoke and carbon equipment compliance) and insurance companies writing the homeowner’s policy will mandate compliance. Long before these practitioners discover this need will be the savvy real estate salesperson involved in the sale, real estate home inspectors and heating maintenance companies. Given the recent debacle emanating from the BP oil loss in the Gulf, we all should be good ambassadors of our environment! If you are not yet selling your home, please consider a repair of your existing oil system. And those selling, well, please put it on your list of “to do” items!

Pictures have been provided by Niccoli Bros. Oil serving our customers in Easton and Brockton, MA or any town in their greater service area. Niccoli Bros. Oil has also has offered a 15% discount to any individual wishing to make one of the above repairs—be sure to mention Goodwin Realty Group sent you!

Massachusetts Foreclosed Property News Flash

2010-06-23T17:21:00Z

As an owner of MA real estate it’s always important to be an informed consumer—whether you are buying a home or selling a home! On a recent Friday afternoon, I was having a discussion with an Asset Manager from a major national bank. I always question the “pulse” of the market from different perspectives and his conversations always yield good information for Massachusetts real estate owners.

Look for the big banks to bundle real estate properties and sell these at auction through the summer. The motivation is that the big banks are looking to ‘get rid’ of long held properties keeping their inventories high and unmanageable. In doing so, they will be able to concentrate on newer, more marketable homes for sale.

New England, and especially the Massachusetts area, appears to be immune to this inventory sell off – except for some properties long held due to the Ibanez Court decision of 2009. Ten major states account for more than 70 percent of the national total of foreclosures. It is logical to assume that the majority of bundled auctions would take place in these states, of which Massachusetts is not one!

Summer Solstice-Easton MA Real Estate Report

2010-06-23T17:18:00Z

The spring market has passed, tax rebates are behind us, but the Easton MA Real Estate Market is still going strong. Interest rates are at historic lows. Prices for homes are at levels not seen in many years and people want to move on with their lives.

What are we hearing and seeing in the Easton MA Real Estate market? We’ve heard from a local bank that they can’t keep up with the demand for pre approvals, especially when the rates go under 5 %. Many MA home buyers that have sold their homes and have been renting or living with family to save money are back in the real estate market. MA real estate agents, the agents at Goodwin Realty Group, in particular are seeing many, many showings on homes for sale, and some multiple offers on homes properly staged and priced, as well as, multiple offers on quality foreclosed homes.

The biggest disappointment that we keep hearing from Goodwin Realty Group home buyers is that what they are looking for is not available because of the low inventory in Easton and surrounding Towns, but they are certainly appreciative of the interest rates and low pricing. Sellers in Easton and surrounding Towns are disappointed with the current value of their homes compared to 2005. They are anxious to sell, to become buyers themselves and to get on with their lives. Many folks are being relocated to this area which is a positive step for the recovering labor market.

Our expectation for the third quarter 2010 for Easton MA real estate is for the market to remain active. Home buyers want to purchase a home and get settled before the start of the new school year. Sellers in Easton and surrounding Towns that have put off selling their homes will began the process when the statistics for the spring market are publicized and they discover that there is an active market and the recovery is already here for the Easton and surrounding area.

Dont Buy Your Second Home, First!

2010-06-09T19:50:00Z

Stuff happens! While in a hurry to attend a staff meeting, I discovered my car had a flat tire! Generally these “bumps” are distracting but a serendipitous meeting with the mechanic proved that you can turn a distraction inside out.

“Nate” was the AAA mechanic dispatched to assist me with a flat tire. Yes, I could have fixed it myself but that’s another blog! I was grateful for his promptness and his professionalism. A ‘salesperson’ engaging in a conversation is like spreading butter on toast and so we eventually merged our discussion into the field of real estate.

He was particularly discouraged that with his limited purchasing power, he would never find an affordable home. I discussed with him that there has never been a better time to buy an “affordable” home, the inventory is strong with bank owned properties contributing to the mix and the interest rate at a 50 year low makes things “prime” for his first purchase.

Sensing he was a little reserved, I heard Nate say, “I’ve been told not to buy your Second home FIRST”! I answered Nate by saying “I think you’ve got it”! If you take the time to look around, work with a knowledgeable REALTOR that can direct you to homes in your area and you remain dedicated to purchase only what you can afford, you won’t make this mistake.

Given the mistakes of the past, it is important to make sure that as a new buyer you don’t overextend your new home purchase. The goal is to purchase a home that is within your budget and serves your immediate needs. In the future, there will be time to buy a larger home or to accommodate living space to suit your growing concerns.

Stay tuned for “Nate” success story.

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Netbook Winner at "Taste of Easton"

2010-06-09T19:46:00Z

At the recent “Taste of Easton” event, Goodwin Realty Group hosted a table and raffled a netbook computer. While we had many participants in this raffle, two young boys continued to check back to our table inquiring about the drawing of the netbook.

Wrapping up the event and packing for the evening, again these two young brothers approached us to find out if they had won. At that point, our group was intent on gathering our belongings and handle any ‘wrap-up’ the next morning. Back at the we took note of the persistence of the two young boys.

Amazingly, when we stirred the bowl and reached in to pick that netbook winner, we were not the least bit surprised that the winner was one of the two boys that continued to visit our table. Six year old Sam Noonan from Easton, the winner of the netbook not only deserves this prize but gives us renewed appreciation in the power of positive thinking!

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Reinvent Your Space!

2010-06-03T14:56:00Z

Click Here to View Our Brochure on Do It Yourself Projects!

How To File a Real Estate Abatement

2010-06-03T13:29:00Z

In a previous article, Bristol County Property Tax Record , it explains how real estate property values are determined. The following paragraphs will help you in the process of applying for a reduction in your real estate taxes.

An Abatement is the application process for reducing real estate property tax. Perhaps your reasoning for applying is one of “fairness”, such that you believe your real estate taxation exceeds others of similar properties or that there is a likely mistake contributing to your mistaken taxation, however, the abatement process is the same. You must adhere strictly to the time mandated by the municipality in which you are filing your abatement.

Here are some steps to follow:

You must be the owner of record as of January 1 of the fiscal year in which you apply.
Request the abatement form and application process from the town in which you seek the abatement.
Do your research! Part of the application process requires that you substantiate your reasoning behind your request for abatement. Property records and sales data should be readily available in the Town’s Assessing office.
Complete your application in a timely manner. Hand deliver it to the municipality and have a copy date stamped by the Town Clerk’s office. This is your proof of submission.

Once submitted, you will be notified in writing by Notice of Approval or Notice of Denial (G.L. c. 58A. 6), in which no abatement will be granted. There is a further action that can be taken with a “denial”. You have 60 days from the date of the decision by the Assessing Department to then appeal to the state Appellate Tax Board:

Appellate Tax Board

100 Cambridge Street

Floor 2, Suite 200

Boston, MA 02114

(617) 727-3100

Things to remember—Abatement filings and abatement amounts are public records, your application however is not public. While awaiting this abatement process, it is critical that you continue to pay the mandated taxation. Lastly, it is predictable but not necessary, that the municipality will require an interior and exterior inspection of the property under review. If you have, in fact, made significant improvements to your property that the municipality is not aware of, it is possible that your taxes in successive years could be increased to reflect this new discovery.

Click Here to download the necessary form.

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A Sneak Peek Into the 2010 Easton Spring Market

2010-06-02T13:25:00Z

During the 2^nd Quarter ending 06/30/2009 there were 45 single family homes sold in the Town of Easton, MA and 14 Condominium Sales. From 04/01/2010 through 05/09/2010 there have been 12 sales of single family homes and 11 condominium sales. In addition we have 42 single family homes under contract and 12 condominium sales under contract.

Single Family & Condominium sales are off the charts!! Looking fantastic for the remainder of of 2010’s 2^nd Quarter!

We are out in the market everyday working it and feeling like it is better, but sometimes you have to stop and look at the data to gauge just how good it really is.

The data is not available to know just how many of these sales were impacted by the first time homebuyer and existing home buyer tax credits, but based on our experience in the field it is safe to say the number is significant. If you do not have an offer signed by 04/30/2010 this opportunity is now history. Some pundents are saying there is a possibility of another extension, but most industry experts do not agree.

While this fantastic Spring Market in Easton can not be an indicator of future sales because it was aided by government stimulus, for the most part we are experiencing sellers wanting to move on with their lives and buyers seeing an opportunity for value and low interest rates that has not been available to them for years.

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New Listing! - $469,900 - 93 Kennedy Circle, Easton, MA

2010-06-01T14:05:00Z

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Taste of Easton - Come Visit Us!

2010-05-24T17:54:00Z

TASTE OF EASTON - May 25, 2010- 6:00 - 8:30 p.m.- Stonehill Campus - Dining Commons. Please come join us for "Taste of Easton", a culinary adventure! While there, visit the many local vendors. As a tease we are displaying our photo board w/architecture & key spots throughout the Town of Easton. See how many YOU can identify.

In addition, we have a raffle for a netbook computer.

We hope to see you tomorrow! Denise, Joanne, Melissa, Rob --- the folks at Goodwin Realty Group!

New Listiing! - $499,700 - 173 Depot Street, Easton, MA

2010-05-21T16:13:00Z

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New Listing! - 57 Randolph Street, Falmouth - $389,900

2010-05-21T16:10:00Z

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Bristol County Real Estate Market Reporting First Quarter 2010

2010-05-19T19:47:00Z

If you love data and economic reports you will love this first quarter 2010 economic and market watch report published quarterly by our multiple listing provider. First find your county, then your zip code and gain access to all the local data on the labor and housing markets.

In addition to the local market data, fast forward to pg. 29 for trends, commentary, and an economic monitor that tracks the likely direction over the next six months of seven important economic indicators (Existing Home Sales, New Home Sales, Housing Starts, Housing Affordability, Mortgage Rates, Employment, & Economic Growth), which can be found on pg. 32.

Enjoy!

View the Market Report Here!

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Easton, MA Realtors Excited About The Real Estate Market Bounce-Back!

2010-05-19T19:44:00Z

We’ve been busy this spring, not just in Easton, MA, but all over the South Shore, helping people move on with their lives.

People were apprehensive in 2008 and 2009. There is still much pain and hardship with folks that have lost their homes, retirement accounts and jobs. Not to minimize this for a second, however we are seeing movement; optimism and that entrepreneurial spirit begin to bloom again.

At Goodwin Realty Group we have had the distinct pleasure this Spring to work with first time homebuyers, Military families, divorced couples that are forming new relationships, retirees, people moving up to their second homes, people downsizing, professionals who have been relocated and folks moving to be closer to their children and grandchildren. This diverse group “moving on” gives credibility to our theory that all sectors of the real estate market are and will be showing improvement.

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Mumbo Jumbo Loans

2010-05-19T19:41:00Z

A large jump in jumbo mortgage rates created a excessive increase in homes for sale at the higher price ranges in 2007 through 2009. However in 2010 higher end home sales have picked up due to better mortgage rates.

“The inability of homeowners to refinance their jumbo loans is holding back potential consumer spending for the overall economy,” said NAR Chief Economist Lawrence Yun. “If they had the opportunity to refinance into historically lower mortgage rates, many current jumbo mortgage holders could save $6,000 to $15,000 in annual interest costs.”

We are into the Spring market of 2010 now and jumbo loan rates seem to be more available and affordable. Since the beginning of 2010, banks including Wells Fargo, Bank of America and U.S. Bank have gotten more aggressive in originating jumbos, said A.W. Pickel, president of LeaderOne Financial, a mortgage lender in Overland Park, Kansas. "If you underwrite carefully and cautiously, a jumbo loan is a very good money maker for a bank," he said. He went on to say; “In time, a working private securitization market for mortgages could eventually affect the entire mortgage market.”

"It's a very small step. A miniscule step," Gumbinger said. But if it works, and a private securitization market develops, this could be one of the earliest signs of a return to a normalized jumbo mortgage market."

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Protect Your Family! Test For Radon!

2010-05-19T19:33:00Z

More and more informed home buyers are testing for Radon as part of their home inspections and yes, we are finding more and more cases of elevated radon levels.

Radon is a cancer causing radioactive gas that you can not see, smell or taste.

The EPA has published a citizen’s guide to educate you on Radon; its dangers, how you can test for it and how to mitigate it in your home.

To View or Download This Brochure, Click Here!

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New Listing! - 199,900 - 10 Myrtle Street, Clinton, MA

2010-05-17T16:02:00Z

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Come Visit Us at The Taste Of Easton!!

2010-05-11T14:19:00Z

Click Here to View or Download our Brochure!!

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New Listing! - $649,800 - 20 Charles River Street, Needham, MA

2010-05-07T02:42:00Z

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New Listing! - $525,000 - 10 Eastwood Lane, Easton, MA

2010-05-04T14:02:00Z

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Easton, MA PANACHE! Free Concert!

2010-04-23T16:17:00Z

Oliver Ames High School choral group PANACHE will perform a free concert 7:00 p.m., Tuesday, April 27, 2010 at the Oliver Ames High School, 100 Lothrop Street, Easton.

Under the direction of Charlene Dalrymple for the past 27 years, this group has attracted the best and the brightest and has been the recipient of First Place and Gold awards year after year. See this amazing group perform in the newly built, acoustically designed auditorium. You are in for a treat!

Admission is free but donations are encouraged. Come early for choice seating….and quite possibly a “sell out” event!

Visit GoodwinRealtyGroup.com for more information!

Town of Easton Community Shred Day

2010-04-21T17:49:00Z

Town of Easton Community Shred Day - April 24th, 2010

View or Download the Brochure here.

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Easton Household Hazardous Waste Collection Day

2010-04-21T17:37:00Z

Easton Household Hazardous Waste Collection Day - Saturday, April 24th, 2010

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Bristol County Property Tax Records - (Property Field Cards)

2010-04-12T16:58:00Z

In implementing real estate taxation, the property card, property record or “field card” has become the most important tool for the Town Assessing Department. What exactly is the “field card” and how is it used? It is the formal record for the property being assessed for taxation. In general, the field card has been created by utilizing both research and a “field” inspection of the property.

Cities and towns dispatch one or many individuals that canvass a territory and report back the findings of the subject property. Those findings are then further refined and constructed as a permanent, but changing, record of that specific house. The record card is available in the Assessing Department of the property’s city or town. Upon request, it is usually available free for the property owner.

In many cases, field cards can also be found on-line, downloaded and printed. By going to the city or town’s website and then to the Assessing Department, you will find a portal to search for this printable document—most usually accessed by street number and address.

View this document very carefully. If there are discrepancies, miscalculations or errors, it may affect your taxation. Even small mistakes unchecked for many years amount to grave monetary loss. If you detect an error, bring this to the attention of the Assessing Department for correction. Repairing a mistake is only part of addressing an assessing mistake. If you believe you are entitled to an abatement (i.e. compensated for the error) you must file a real estate abatement form.

Real estate abatement forms can also be found on-line or picked up from the Assessor in the Assessing Department. Abatements can only be filed at specific times designated by the city or town where the property is located. In addition, there is strict adherence to filing times of abatements. To be sure, check the individual municipality’s requirements.

Watch for our next article “How to File a Real Estate Abatement”.

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It Pays to Buy Now! 2010 Home Buyer Tax Credit Brochure.

2010-04-08T02:52:00Z

Click Here to View or Download Our Free Brochure!

For more local real estate market information, click here.

2010 First Quarter Home Sales

2010-04-05T20:13:00Z

Total Sold SF Homes				1st Qtr 2010

Easton				30
Mansfield				22
Bridegewaters				45
Norton				19
Raynham				10

Total Area				126

The total number of homes sold in the Towns listed, in the most recent quarter, 1st quarter 2010, saw an 11.5 % increase over the number of homes sold in the first quarter of 2009, indicating great momentum going into the 2^nd quarter 2010. The first time home buyer and existing homeowner tax credits are still in play as long as a purchase and sale agreement is in place by April 30^th, 2010.

If your Town isn’t listed, but you would like more information or if you have any question we can assist you with, please contact us immediately.

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New Listing! - $329,900 - 225 Lincoln Street, Easton, MA

2010-04-05T19:52:00Z

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Community Preservation Act Primer

2010-04-02T21:36:00Z

Community Preservation Act Primer

The CPA or Community Preservation Act was formally adopted and signed on September 14, 2000 by Governor Cellucci and Lieutenant Governor Swift. The CPA allows for a city or town to impose a real estate tax surcharge of up to 3% on its residents. Individual municipalities however must vote by referendum at a regularly scheduled local or state election to participate. The City or Town is then free to decide what portion up to 3% they choose as their CPA surcharge. Once adopted, the municipality cannot repeal for 5 years although the amount of the surcharge may be adjusted during this time.

The CPA’s specific focus is to address the needs of three areas: open space, historic preservation and affordable housing. Each municipality is required to designate 10% of the funds raised per year to each of these three areas with the remaining 70% to be used as the CPA Committee determines. A Community Preservation Act Committee is usually comprised of appointed and elected officials. They are responsible for drafting a long-term plan for the use of the funds and to decide on individual proposals – such as the purchase of a specific farm or parcel for open space.

Special legislation creating a land bank on Cape Cod was extremely successful and provided the model for the statewide CPA. It is interesting to note that all of the Cape Cod communities have successfully voted for the CPA and are today reaping great benefits, as compared to those Massachusetts communities who have not adopted the statute. Of great concern is that wealthier towns who have voted to adopt this Act within their town are benefitting at the expense of poorer communities who contribute registry receipts but have not voted to adopt the Act.

As part of the legislation, the state matches those local funds (collected under the CPA plan) with money derived from registry of deed receipts. From inception until 2008 the state had matched at a 100% level. However, in 2009, the state funding level dropped below its 100% match due to both increasing participation by city and towns and a decline in registry receipts. While local funds will continue to be collected up to their adopted percentage, it is expected that a 100% match will not be met in 2010 and should not be expected in the near future.

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