Metrowest Real Estate

Sherborn Real Estate Market

2011-12-19T13:10:00.000-08:00

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

2011-06-02T12:25:00.000-07:00

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

2010-05-09T06:35:00.000-07:00

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

2010-04-01T18:34:00.000-07:00

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

2010-03-02T12:25:00.003-08:00

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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Real Estate and Technology | Inman News

2010-01-24T08:27:00.001-08:00

Google, RPR and the future Real Estate and Technology News for Agents, Brokers and Investors Inman News

Posted using ShareThis

Interest rates

2010-01-21T20:23:00.000-08:00

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

House under agrrement for December up

2010-01-16T11:31:00.000-08:00

Pending Home Sales Up for Sixth Straight Month in December
1/5/2010

WALTHAM, Mass. – January 5, 2010 – The Massachusetts Association of REALTORS® (MAR) reported today that the number of single-family homes put under agreement in December was up 5 percent over the same time last year, while condominiums were up 26 percent. December marks the sixth straight month that the number of homes put under agreement had increased over the year before.

The tracking of signed purchase and sales agreements (also called “pending sales”) provide reliable information about where the real estate market is heading in coming months.

“It is a positive sign to see that pending sales went up each month in the second half of the year as the real estate market is showing signs of improvement,” said 2010 MAR President Kevin Sears, broker/co-owner of Sears Real Estate in Springfield. “Now with the extension and expansion of the homebuyer tax credit until April 30, we should see this trend continue over the winter months, a traditionally slower time for home sales.”

The number of single-family homes put under agreement in December was up 5 percent compared to the same time last year (2,615 homes in 2008 to 2,743 homes in 2009). On a month-to-month basis, single-family homes put under agreement were down 19 percent from 3,387 homes in November.

The number of condos put under agreement in December was up 26 percent compared to December 2008 (922 units in 2008 to 1,248 units in 2009). On a month-to-month basis, condos put under agreement were down 9.4 percent from 1,379 units in October.

About Pending Sales:
A pending sale or a sale “under agreement” is when the buyer and seller agree on the terms of the sale of a home and have a signed purchase and sale agreement, but have yet to close and be recorded as such. MAR is the only organization which compiles this statewide information from Multiple Listing Services each month.

Spending index down but near high since 2004

2010-01-16T07:09:00.000-08:00

RISMEDIA, January 16, 2010—The Deloitte Consumer Spending Index dipped slightly in December 2009, primarily due to a decline in real wages, but it remains near its highest level since 2004. The Index attempts to track consumer cash flow as an indicator of future consumer spending.

“The most notable shift in the Index results from inflation, primarily due to rising energy prices, which is undermining the gains in real hourly earnings,” said Carl Steidtmann, chief economist with Deloitte Research, a subsidiary of Deloitte Services LP, and author of the monthly Index. “This increase in prices is offsetting the improvement in other components of the Index that boost consumer purchasing power, including a steadily falling tax burden, a sustained drop in initial unemployment claims over the past several months and signs of stabilization in the housing market.”

The Index, comprising four components- tax burden, initial unemployment claims, real wages and real home prices- slipped to 4.63%, from an upwardly revised gain of 4.66% a month ago.

“Inflation can significantly change the pricing environment for retailers, particularly at a time when consumers are already closely monitoring their spending levels,” said Stacy Janiak, vice chairman and Deloitte’s U.S. Retail leader. “Retailers that have been focused on lowering product costs and preserving margins should keep their foot on the pedal to maintain and accelerate those efforts given the prospect for continued inflationary pressure. Efforts to seek out less costly product and supply alternatives, grow private label offerings and identify greater supply chain efficiencies should remain high on retailers’ lists of resolutions for the new year.”

Highlights of the Index include

Tax Burden: The tax burden, after stabilizing, is again moving lower. The average tax burden is at its lowest level in more than 40 years due to the effects of the stimulus bill passed in February 2009.

Initial Unemployment Claims: Initial claims have come down sharply over the past six months, which historically has been a reliable signal of economic recovery. Claims are down more than 200,000 from their recession peak and are down from a year ago.

Real Wages: Real wage growth, which had been the biggest contributor to the Index in recent months, is beginning to slip as energy prices are pushing up the price level and hurting the real purchasing power of modest wage growth.

Real Home Prices: The pace of decline in home prices continues to slow on a year-over-year basis. Government efforts to forestall foreclosures, coupled with the extension and expansion of the tax credit for home buyers have brought some stability to home prices. The decline in home prices has made home buying much more affordable.

For more information, visit www.deloitte.com [1].

January Newsletter

2010-01-10T13:13:00.000-08:00

Go to http://realtytimes.com/134/billanderson for my January Newsletter