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How to Beat the Competition and Buy a Foreclosure
February 6, 2012 in Buying a Home, Massachusetts, Real Estate Market | Tags: Buying a Home, buying foreclosures, home buyers | Leave a comment
How to Beat the Competition and Buy a Foreclosure
Start with your best offer and consider bumping up the deposit
Finding a bank-owned home for sale these days is hard enough. Actually buying one is an even bigger problem.
Last year the supply of bargain-basement, foreclosure homes shrank, as banks temporarily stopped trying to repossess properties to review possible paperwork errors.
But 2012 should be a different story.
Read more at How to beat the competition and buy a foreclosure.
Is That House Worth the Asking Price?
February 1, 2012 in Buying a Home, Home Values, Massachusetts | Tags: Buying a Home, home buyers, Home Values | Leave a comment
Is That House Worth the Asking Price?
With home values all over the map and local markets faring very differently in the wake of the housing bust, how do you know if the seller’s list price is on the money?
For most buyers, it starts with what’s known as comparable properties, or comps. In theory, a seller could price their home however they please — but …
Read more at Is That House Worth the Asking Price?
Size Matters Most to First-Time Home Buyers
January 30, 2012 in Buying a Home, Massachusetts | Tags: Buying a Home, first-time homebuyers, home buyers | Leave a comment
Size Matters Most to First-Time Home Buyers
When first-time homebuyers begin looking for new digs, they often have one guideline firmly in mind: think small.
“First-time homebuyers, because they have not been through the homebuying process before, have less confidence that they are making the right decision even in spite of low interest rates and affordable prices,” says Stephen Melman, director of economic services for economics and housing policy for the National Association of Home Builders (NAHB).
Read more at Size Matters Most to First-Time Buyers.
Mild Winter Heating Up Cape Sales
January 27, 2012 in Buying a Home, Cape Cod, Home Values, Massachusetts, Real Estate Market | Tags: Buying a Home, buying a vacation home, Cape Cod real estate, home buyers, home prices, home sales, Home Values, luxury home buyers | Leave a comment
Mild Winter Heating Up Cape Sales
Single-family home sales on the Cape dropped 4.25 percent in 2011 compared to the year before, but luxury home buyers helped boost the market as the average price increased from $465,630 to $466,646 and last year saw 11 sales over $4 million compared to only five in 2010.
So far, the mild winter combined with pent-up demand in the higher end market has helped the Cape get off to a strong start with 15 listings over $1 million going under contract since the beginning of December.
Read more at Mild winter heating up Cape sales.
10 States Where You Can Get Amazing Bargains On Foreclosed Homes
January 26, 2012 in Buying a Home, Massachusetts, Real Estate Market | Tags: Buying a Home, foreclosures, home buyers | Leave a comment
10 States Where You Can Get Amazing Bargains On Foreclosed Homes
U.S. foreclosures fell 9% in December from the previous month, and these foreclosures resulted in sales that depress home prices.
RealtyTrac calculated the states with the highest foreclosure savings, as measured by average sales prices versus average foreclosure sales price.
Read more at 10 States Where You Can Get Amazing Bargains On Foreclosed Homes.
5 Lessons Homebuyers Must Know
January 25, 2012 in Buying a Home, Massachusetts, Real Estate Market | Tags: Buying a Home, home buyers, housing market, Real Estate Market | Leave a comment
5 Lessons Homebuyers Must Know
NEW YORK (MainStreet) — Growing signs of improvement in the housing market could draw more buyers in the coming months, and although the rules of the game haven’t changed much, the big question for anyone returning to the housing market — or getting into it for the first time — is what are the long-term lessons to be learned from the recent housing downturn?
Read more at 5 Lessons Homebuyers Must Know.
Voters Place High Value on Homeownership
January 12, 2012 in Real Estate Market | Tags: home buyers, home ownership, mortgage interest deduction, Mortgages, real estate news | Leave a comment
Voters Place High Value on Homeownership
January 11, 2012 – By an overwhelming margin, American voters strongly value homeownership and would oppose efforts to weaken or eliminate the mortgage interest deduction or diminish a federal role to help qualified home buyers obtain affordable 30-year mortgages, according to a new nationwide survey gauging likely voters’ attitudes towards homeownership and housing policy issues.
Read more at Voters Place High Value on Homeownership.
Housing Still Great Investment, Americans Say
December 9, 2011 in Buying a Home, Cape Cod, Massachusetts, Mortgages | Tags: Buying a Home, first-time homebuyers, home buyers, housing affordability | Leave a comment
Housing Still Great Investment, Americans Say
Sixty-two percent of Americans say that purchasing a home is a good investment over the next 10 years, according to the Mortgage Index Study conducted on behalf of Bank of America.
Affordability ranks high among the 1,104 consumers surveyed nationwide. For those considering a home purchase within the next year, 62 percent reported contacting a lender or using online tools to determine affordable monthly mortgage payments, according to the survey. Seventy-four percent also said they plan to …
Read more at Housing Still Great Investment, Americans Say.
More Parents Helping Kids Buy Homes
December 9, 2011 in Buying a Home, Cape Cod, Massachusetts | Tags: Buying a Home, first-time homebuyers, home buyers | Leave a comment
More Parents Helping Kids Buy Homes
NEW YORK (CNNMoney) — Hey, baby boomers! Pondering what gift to get your kid who’s all grown up? For many of your peers, the answer is a house.
One in five baby boomer couples have already given at least one of their children the means to purchase a home — either buying it outright, furnishing the down payment or co-signing the loan, according to a survey from Better Homes and Gardens Real Estate.
Read more at More parents helping kids buy homes.
Are First-time Home Buyers Scared Off?
December 5, 2011 in Buying a Home, Cape Cod, Massachusetts, Real Estate Market, Selling a Home | Tags: Buying a Home, first-time homebuyers, home buyers, Real Estate Market | Leave a comment
Are First-time Home Buyers Scared Off?
WASHINGTON (AP) — This should be a great time to buy a first home. Prices have sunk to 2002 levels. Sellers are waiting anxiously as homes languish on the market. Mortgage rates are their lowest ever.
Yet the most likely first-time homeowners, especially young professionals and couples starting families, won’t buy these days. Or they can’t. Or they already did, during the housing boom. And their absence helps explain why the housing industry is still depressed.
The obstacles range from …
Read more at Home Market Being Held Back by Wary First-Timers.
Are the Holidays a Good Time to Sell Your Home?
December 5, 2011 in Buying a Home, Cape Cod, Massachusetts, Real Estate Market, Selling a Home | Tags: Buying a Home, home buyers, home sellers, Real Estate Market, Selling a Home | Leave a comment
Are the Holidays a Good Time to Sell Your Home?
Sixty percent of real estate professionals advise their sellers to list a home during the holidays because it’s a good time to sell, according to a new survey conducted by Realtor.com.
Why are the holidays such a good time to sell? Seventy-nine percent of the agents surveyed said that more serious buyers come out during the holidays, and 61 percent say less competition from other properties make it a great time to sell. Plus, 17 percent of agents say the cold weather is actually a benefit, making homes feel more cozy.
Read more at Most Real Estate Professionals Recommend Clients List Their Homes During the Holidays.
Flawed appraisals create major problems for lenders
November 20, 2011 in Buying a Home, Cape Cod, Home Values, Massachusetts, Selling a Home | Tags: appraisals, home buyers, home sellers, Home Values | Leave a comment
Flawed Appraisals Create Major Problems for Lenders
How do you fight back when an appraiser — often from another city and working for a small fee on behalf of a big bank — wrecks your sale, purchase or refinancing with a low-ball valuation?
It’s a serious problem in markets across the country. For example:
- Homebuilder John Nolde of Richmond recently found a buyer for a new, green-certified house at $199,500, only to see an out-of-area appraiser …
Read more at Flawed appraisals create major problems for lenders.
Smaller Homes to Grow in Demand, Surveys Suggest
November 18, 2011 in Buying a Home, Cape Cod, Massachusetts | Tags: Buying a Home, home buyers, trends in real estate | Leave a comment
Smaller Homes to Grow in Demand, Surveys Suggest
The square feet of new homes is expected to continue its decline in future years. The National Association of Home Builders predicts that U.S. houses will average 2,152 square feet in 2015, which will be down 10 percent compared to last year.
Smaller homes near restaurants and retail may be the most in demand as the housing market crawls out of its slump, housing experts say.
Read more at Smaller Homes to Grow in Demand, Surveys Suggest.
Foreclosures Are Selling Quicker, BofA Says
November 16, 2011 in Buying a Home, Cape Cod, Massachusetts, Real Estate Market | Tags: foreclosures, home buyers | Leave a comment
Foreclosures Are Selling Quicker, BofA Says
In several markets, Bank of America is reporting that it has picked up its pace in moving through its inventory of foreclosed homes faster than it has in the past, The Wall Street Journal reports.
Brian Moynihan, Bank of America Corp.’s chief executive, said at a press conference that in cases where banks can take ownership of the properties quickly and get them cleaned up, they are able to get them back on the market and selling the fastest.
“It moves as fast now as it’s ever moved,” Moynihan said at a press conference.
Read more at Foreclosures Are Selling Quicker, BofA Says.
For a free list of foreclosed homes for sale in the Boston Metro area, the South Shore, the South Coast and on Cape Cod, visit www.BankOwnedCribs.com.
Home Sweet Townhome
November 12, 2011 in Buying a Home, Massachusetts | Tags: Buying a Home, condominiums, condos, first-time homebuyers, home buyers, new home construction | Leave a comment
Home Sweet Townhome
A new townhouse development off Route 3 in Weymouth offers a good value at $259,900 each and is conveniently located in a wooded setting.
The 46-unit Tirrell Woods is built on five acres and surrounded by another 50 acres of conservation land the developer deeded back to the town. The attached townhouses are all market-rate 1,200-square-foot, two-bedroom duplexes that make great starter condos, with low monthly condo fees. Seven are already under agreement.
Read more at Home sweet townhome.
Survey Reveals Why Buyers Are Waiting on Sidelines
November 9, 2011 in Buying a Home, Cape Cod, Massachusetts | Tags: home buyers | Leave a comment
Survey Reveals Why Buyers Are Waiting on Sidelines
Twenty-seven percent of Americans say they plan to buy a home in the future (with most saying in two or more years), and only two percent say they plan to purchase a home in the next 12 months, according to a new Move Inc. survey of 1,000 American adults. So why are so many buyers continuing to wait on the sidelines when home affordability is high and interest rates are at or hovering near record lows?
About 23 percent of those surveyed say they are delaying buying a home because …
Read more at Survey Reveals Why Buyers Are Waiting on Sidelines.
Buyer Can’t Sue After Bad Foreclosure Sale
October 19, 2011 in Buying a Home, Cape Cod, Massachusetts | Tags: Buying a Home, foreclosures, home buyers | Leave a comment
Buyer Can’t Sue After Bad Foreclosure Sale
A Massachusetts man who bought property in a faulty foreclosure sale isn’t the true owner and so doesn’t have the right to sue over it, the state’s high court ruled.
The Supreme Judicial Court, which in January found that banks can’t foreclose on a house if they don’t own the mortgage, went one step further in a closely watched case and said …
Read more at Buyer Can’t Sue After Bad Foreclosure Sale.
When Will REO Sales Finally Peak?
October 18, 2011 in Buying a Home, Cape Cod, Massachusetts | Tags: Buying a Home, foreclosures, home buyers, real estate owned properties, reo properties | Leave a comment
When Will REO Sales Finally Peak?
Properties repossessed through foreclosure may not peak until 2013, HousingWire reports, quoting several analysts and recent reports.
Foreclosure sales are expected to reach 1.48 million properties in 2013, according to analysts from Bank of America Merrill Lynch.
However, with the surge, “we do not expect to see …
Read more at: When Will REO Sales Finally Peak?
The Joys of Homeownership
October 18, 2011 in Buying a Home, Cape Cod, Massachusetts | Tags: Buying a Home, home buyers, home ownership | Leave a comment
The Joys of Homeownership
Today’s experts spout off the latest statistics about long-term wealth, home values, and interest rates, yet there’s a much more sentimental side to homeownership. In fact, many home buyers are drawn to homeownership for these warm and fuzzy reasons.
Owning a home allows you to …
Read more at The Joys of Homeownership.
6 Good Reasons to Buy a Home Now
October 18, 2011 in Buying a Home, Cape Cod, Massachusetts | Tags: Buying a Home, home buyers | Leave a comment
6 Good Reasons to Buy a Home Now
Houses are more affordable than they’ve been in a decade.
1. Prices have nearly hit bottom.
In most areas, most of the excess has finally been wrung out of the market. But if you’re buying a first home or looking to trade up, there’s no need to rush. Although prices may fall some more — blame foreclosures still working their way through the system and tighter credit — they won’t fall by much.
Fiserv Case-Shiller, which tracks home prices, forecasts that …
Read more at: 6 Good Reasons to Buy a Home Now.
