Sherborn Real Estate Market

For an update of the Sherborn Real Estate Market go to: http://goo.gl/KhbuJ

This gives an overview of houses sold and on the market. If you would like to receive this on a monthly basis just email me at Bill@BillAnderson.org

Appraisal Process

My name is Bill Anderson and I am a Realtor in Metro West Boston. Wherever I go, it seems like people always have a real estate question or just want to talk about the real estate market.

One situation I run into all the time is the following:
When a house is first listed for sale the furthest thought from the sellers mind is what happens after an offer is accepted, inspections have been completed, and the purchase and sale has been signed.

The next major step is getting the mortgage contingency cleared. As part of this process, the appraisal has become the most nerve racking.
There are several things that should be done by you and your agent.
Once the appraisal is scheduled make sure that the house is in prime showing condition.

Your agent should accompany the appraiser and supply them with as much information as possible.

This would include a copy of the listing sheet, a copy of the P&S, and comparisons that verify the selling price. I always point out the high points of the listing.

Lead Paint law

This portion of the lead paint law became effective on Aprill 22, 2010. This will add costs and time to any renovation projects on houses built prior to 1978.

"Federal law requires that individuals receive certain information beforerenovating six square feet or more of painted surfaces in a room for interior projects or more than twenty square feet of painted surfaces for exteriorprojects in housing, child care facilities and schools built before 1978.n Homeowners and tenants: renovators must give you this pamphletbefore starting work.n Child care facilities, including preschools and kindergarten classrooms,and the families of children under the age of six that attend those facilities: renovators must provide a copy of this pamphlet to child-care facilities and general renovation information to families whose children attend those facilities.Also, beginning April 2010, federal law will require contractors that disturblead-based paint in homes, child care facilities and schools, built before 1978to be certified and follow specific work practices to prevent lead contamination. Therefore beginning in April 2010, ask to see your contractor?s certification."

If you want further information please contact me at:
Lead Paint@BillAnderson.org

First Quarter 2010 Market Overview

To view the first quarter 2010 Real Estate market over view for Dover, Holliston, Natick and Sherborn go to: http://ow.ly/1tSam

For other towns go to: www.AndersonStatistics.com and sign up or contact me at 508-654-1811

Daily Real Estate News

Buyers Who Wait May Lose a Lot The end of low mortgage rates, rising home prices in some places, and the expiration of the tax credits make this an ideal time for many potential buyers to act. Flood Insurance Program Is in Jeopardy Senate Republicans are blocking the renewal of the national program out of concern that the spending adds to the federal deficit. HARP Receives a One-Year Extension The federal government's Home Affordable Refinance Program, aimed at borrowers with little or no equity in their homes, will now expire in June of 2011. How to Grow Your E-Mail Database Facebook and Twitter offer great possibilities for expanding your database, but it's important to focus on relationship building and customer service. Orleans Homebuilders Declares Chapter 11 East Coast company is seeking a buyer through a negotiated sale, reorganization plan, or court-supervised auction. Without Tax Credits, Housing Market Is Flat Housing economist Tom Lawler says job growth and affordable interest rates will drive improving home sales. Buffett Predicts Downturn Will End in 2011 In a letter to his shareholders, Warren Buffett predicts that the housing market will bounce back next year when housing demand catches up with the supply. Buyers Should Consider Prepaying Mortgage Paying down a mortgage early may provide a better return than other investments, according to real estate experts. Fannie Mae Seeks Another Bail-Out Fannie Mae is asking for another $15.3 billion from the federal government in order to continue offering mortgage funding. Move-Up Tax Credit Having Little Impact Industry experts are criticizing the $6,500 move-up tax credit for having little influence on sales as January to February numbers remain stagnant. Reduction of Mortgage Tax Breaks Unlikely Members of Congress are unenthusiastic about cutting mortgage-related tax deductions outlined in President Obama's proposed budget. Tips for Motivating Your Sphere of Influence Looking for referrals? Here are a few pointers on how to reach out to your contacts and stay fresh in their minds.

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Interest rates

The 30-year fixed-rate mortgage averaged 4.99 percent for the week ending Jan. 21, down from last week when it was 5.06