Freddie Mac: Equity Matters (a Lot)

KCM Crew July 23rd, 2015

According to a Merrill Lynch survey, over 80% of the people in this country believe that homeownership is still “an important part of the American Dream”. There are many financial and non-financial reasons people feel this way.

One of the biggest reasons is because it helps build family wealth. Last week, Freddie Mac posted about the power of home equity. They explained:

“In the simplest terms, equity is the difference between how much your home is worth and how much you owe on your mortgage. You build equity by paying down your mortgage over time and through your home's appreciation. In a nutshell, your money is working for you and contributing toward your financial future.

They went on to show an example where a person bought a home for $150,000 with a down payment of 10%, resulting in a loan amount of $135,000. The buyer secured a 30-year fixed-rate mortgage at 4.5% with a monthly mortgage payment of $684.03 (not including taxes and insurance). They then illustrated what would happen after seven years of making a mortgage payment, assuming 3% per year home appreciation (the historic national average):

And that number continues to build as you continue to own the home. Merrill Lynch published a report earlier this year that showed the average equity homeowners have acquired at certain ages.

Bottom Line

Home equity is important to building wealth as a family. Referring to the first scenario above, Freddie Macexplained:

“Now, if you continued to rent, and made the same payment of $684.03 per month, you'd have zero equity and no means to build it.

Building equity is a critical part of homeownership and can help you create financial stability.”

Looking to Buy or Sell, contact us and let's get you moving.

Noemi Cardoso 
RE/MAX Terrasol
Licensed in CA
714-698-9555

The Two Things You Don’t Need to Hear from Your Listing Agent

 

by The KCM Crew on September 16, 2014

You’ve decided to sell your house. You begin to interview potential real estate agents to help you through the process. You need someone you trust enough to:

1. Set the market value on possibly the largest asset your family owns (your home)
2. Set the time schedule for the successful liquidation of that asset
3. Set the fee for the services required to liquidate that asset

An agent must be concerned first and foremost about you and your family in order to garner that degree of trust.  Make sure this is the case.

 

Be careful if the agent you are interviewing begins the interview by:

• Bragging about their success
• Bragging about their company’s success

An agent’s success and the success of their company can be important considerations when deciding on the right real estate professional to represent you in the sale of the house. However, you first need to know they care about what you need and what you expect from the sale. If the agent is not interested in first establishing your needs, how successful they may seem is much less important.

Look for someone with the ‘heart of a teacher’ who comes in prepared well enough to explain the current real estate market and patient enough to take the time to show how it may impact the sale of your home. Not someone only interested in trying to sell you on how great they are.

You have many agents from which to choose. Pick someone who truly cares.

Thinking of selling a home, contact someone who cares.

Noemi Cardoso
William Raveis Real Estate
911 Main Rd, Westport MA 02790
Cell: 508-558-1945
www.DistinctiveHomes-NE.com

Real Estate: This Spring Will Be Different.

The KCM Crew. - Posted: 17 Apr 2014.

Just like May flowers, every spring the housing market blossoms as buyers come out ready to purchase their dream house. This spring, we believe we are going to see the strongest purchasing market we have seen in a decade.

Why are we so bullish on the housing market this spring?

Here are a few reasons:

MILLENNIALS

Contrary to many reports, this age demographic is READY, WILLING and ABLE to become homeowners. As a matter of fact, the latest National Association of Realtors’ gender study revealed that the Millennial generation has recently accounted for a greater percentage of all buyers than any other generation.

BABY BOOMERS

As prices have risen, so has the equity in many homes across American. Homeowners, having been shackled to their house because of low or negative equity for the last several years, are again free to make a move without worrying about bringing cash to a closing table in order to sell. We believe this new-found freedom will release a pent-up demand of sellers who want to move-up to the home they’ve always dreamed of or want to downsize their primary residence and also purchase a second home they can use for vacation, retirement or both.

BOTH PRICES and MORTGAGE RATES are on the RISE

As the economy improves, more and more Americans are regaining faith that their own personal finances are headed in a positive direction. With this new confidence, they want to take advantage of the opportunity that presents itself with real estate still undervalued in most parts of the country and mortgage rates being well below historic numbers.

A Home’s Cost vs. Price Explained

by The KCM Crew on April 2014.

We have often talked about the difference between COST and PRICE. As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As either a first time or repeat buyer, you must not be concerned about price but instead about the ‘long term cost’ of the home. Let us explain.

Recently, we reported that a nationwide panel of over one hundred economists, real estate experts and investment & market strategists projected that home values would appreciate by approximately 8% from now to the end of 2015.

Additionally, Freddie Mac’s most recent Economic Commentary & Projections Table predicts that the 30 year fixed mortgage rate will be 5.7% by the end of next year.

What Does This Mean to a Buyer?

Here is a simple demonstration of what impact these projected changes would have on the mortgage payment of a home selling for approximately $250,000 today:

Hispanic Millennials & Housing

by Jeymy Gonzalez on April 2, 2014    

Nielsen recently released their report “Millennials – Breaking the Myths” and today I want to focus on the information reported about Hispanic Millennials.

Of the 77 million Millennials, 19% are Hispanic. This group (age 18-36) is the most racially and ethnically diverse than any previous generation. According to this report, Nielsen expects the Hispanic population to grow by 167% by 2050.
Millennials are 14% first generation, and 12% second generation Americans, keeping strong ties to their home country, culture and language. For example:

1. 63% of the Millennials feel it is their responsibility to care for an elderly parent, according to Nielsen: “this is partially tied to the ethnic diversity of the generation. Typically ‘Hispanic and Asian Americans’ have cultural expectations that elderly family members will be cared for by the younger generations.”

This can help you to understand why when a Hispanic Millennial is looking for a home, they are requesting that extra bedroom.

2. 65% of Hispanic Millennials are U.S. Born and are more bilingual than other generations

• In 2003, 34% were Spanish dominant, 44% English dominant, 22% bilingual
• In 2013, 31% were Spanish dominant, 31% English dominant, 38% bilingual

"Today, the bilingual Hispanic is the dominant group within these Millennials.” According to this report, this is telling us that “Hispanics are choosing to speak more Spanish and maintain cultural ties.”

Where are they looking for homes?

This report revealed “62% of the Millennials prefer to live in the type of mixed-use communities found in urban centers where they live in close proximity to a mix of shopping, restaurants and offices. This is the first time since the 1920s where the growth in U.S. cities outpaces growth outside of the cities. And, 40 percent say they would like to live in an urban area in the future.

The “American Dream” is transitioning from the white picket fence in the suburbs to the historic brownstone stoop in the heart of the city” and the markets with a major concentration of Millennials reflect this desire:

Top 10 markets for Millennials (by %):

• Austin, TX (16%)
• Salt Lake City, UT (15%)
• San Diego, CA (15%)
• Los Angeles, CA (14%)
• Denver, CO (14%)
• Washington, DC (14%)
• Houston, TX (14%)
• Las Vegas, NV (14%)
• San Francisco, CA (14%)
• Dallas-Ft. Worth, TX (14%)

 

Millennials: Optimistic & Ready to Buy

by The KCM Crew

We believe that 2014 will be the year that Millennials re-enter the housing market in a big way. Because of that, we will be dedicating our blog posts each day this week to a better understanding of this generation. - The KCM Crew

A recent survey by the PulteGroup revealed that the Millennial generation has a more optimistic outlook regarding the American economy than other generations. According to the survey, 54% of Millennials believe the economy is in better shape today than it was last year compared to only 41% of the total population.

It seems this optimism is impacting purchasing decisions as 74% of Millennials view now as an excellent or good time to buy the things they want or need. Jim Zeumer, vice president of corporate communications for the PulteGroup explained:

"No other cohort of adults is nearly as confident about their economic future as the millennials are right now. This is definitely a change, as millennials have regularly been viewed as the disenfranchised generation vastly affected by the fallout of the recession. But now, with an increased sense of optimism, this generation is starting to feel as though they have the resources available to lead the lives they want or expect to in the future."

WHAT ABOUT HOUSING?

Specific to real estate, the survey indicated:

• 85% of Millennials plan to purchase a home in the future
• 49% plan to purchase a home in the next two years
• Of those planning to purchase in the near-term, 56 percent are current homeowners and 41 percent are renters
• 65% prefer spending more money on a home that is move-in ready compared to doing renovations
• 58% increased their interest in purchasing a home in the past year as the positive attributes of homeownership resonate with this generation.

If you, or anyone you know is thinking about buying or selling a home, feel free to contact me and find out why our services are above and beyond the competition.

Noemi Cardoso
William Raveis Real Estate
www.DistinctiveHomes-NE.com

Money Magazine: Buy Now Not Later

by The KCM Crew on March 24, 2014 in For Buyers

We have often suggested that potential home buyers consider rising interest rates when thinking about the true cost of a home. Remember, cost is not determined by price alone but by price and mortgage rate. The longer a buyer waits, the higher the mortgage payment will be if rates continue to increase (as is projected by Fannie Mae, Freddie Mac, the National Association of Realtors and the Mortgage Bankers Association).

Money Magazine, in its latest issue, agreed with our analysis as they also warned their readership of the same ramification if they waited to buy a home.

Here is what they said:

"BE MINDFUL OF RATES. The average interest rate on a 30-year fixed loan is predicted to climb from the current 4.4% to 5.3% by the 2015 spring buying season, according to Freddie Mac. For a $250,000 loan, that means that a borrower who waits would pay $136 more per month and an additional $49,090 in interest over the life of the loan. Will you need a big loan? Better to act soon before rates tick up."

And the monthly increase Money mentioned did not take into consideration that prices are also projected to increase over the next year. Here is what the additional cost would be if prices rise by the 4.5% projected by the latest Home Price Expectation Survey and interest rates go to 5.3%.

Home Sales Up in 3 of 4 Regions

Some industry gurus are questioning whether the housing momentum we saw early in 2013 began to dissipate later in the year. The more dramatic have claimed the housing sector is still on shaky ground. Others have blamed the slowdown in sales on a lack of consumer confidence or rising interest rates.

The National Association of Realtors (NAR) just released their 2013 4th Quarter Housing Report. The report revealed that home sales numbers barely outperformed (an .08% increase) those in the 4th quarter of 2012.

We believe the leveling in home sales is directly attributable to a lack of salable listing inventory; specifically in the West.

Three of the four regions in the NAR report had an increase in sales: Northeast (+7.1%), Midwest (+2%) and South Regions (+3.6%). A big fall-off in sales occurred in the Western Region. The dramatic fall-off in the West (-8.1%) can be directly linked to a shortage of inventory in their hottest markets.

If the decrease in sales was caused by an eroding of consumer confidence and/or rising interest rates, we believe each region would have seen similar decreases.

by The KCM Crew on February 19, 2014 in For Sellers

Spring is just around the corner and this is the best time of the year to sell a home. If you are ready to sell your home and  are looking for an agent that work with your goal in mind give me a call and let's start working and get your home sold.

Noemi Cardoso
William Raveis Real Estate
Cell: 508-558-1945
www.DistinctiveHomes-NE.com

The #1 Reason You Should Sell Now

by The KCM Crew on January 13, 2014 in For Sellers 

The price of any item (including residential real estate) is determined by ‘supply and demand’. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. Putting your home on the market now instead of waiting for the increased competition of the spring might make a lot of sense.

Buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory available in most markets currently, a seller will be in a great position to negotiate.

So if you are ready to offer your house now, feel free to contact me. I am ready to start working for you when you are.

Noemi Cardoso\
William Raveis Real Estate
Cell: 508-558-1945
Serving MA & RI
Fluent in Portuguese and English

Tapering Begins!

by The KCM Crew on December 23, 2013 in For Buyers, For Sellers

The Fed announced they would be pulling back some of their stimulus package which has helped the housing market by keeping long term mortgage rates at historic lows for the last few years. This should come as no surprise as the KCM Blog has been warning of this likelihood over the last several months.

We even went against the belief of the vast majority of economists who thought the Fed would wait until next year. In this month’s edition of KCM, we quoted Bill McBride of Calculated Risk:

“Although the consensus is the Fed will wait until 2014 to start to taper asset purchases, December is still possible.”

We also gave our members the following grouping of slides to help them explain the ramifications of the Fed’s decision during meetings with buyers and sellers.

 

What it Means to the Consumer

 

In an article in MarketWatch today, Lawrence Yun, the Chief Economist at NAR, explained that sellers looking to move-up (to a better school district or larger home) “need to realize that it could be more challenging a year from now.” Yun stated the average 30-year mortgage rate currently hovers at 4.3%, but that could rise to 5% or 5.5% next year.

What it Does NOT Mean to the Housing Market

 

Some reports will now claim that housing prices will have to drop as interest rates begin to rise. There is no historical evidence of this. Below is a chart showing the last four instances of mortgage rates rising dramatically and what happened to home values at the time.

Bottom Line

 

If a client is either a first time buyer or a move-up buyer, they should make the move earlier in 2014 instead of later as mortgage rates will probably increase as the year goes on.

Many people ask me when it is the right time to buy or sell. Well, the market is always moving and the right time depends on your personal circumstances. If you are  ready to move forward to that dream home, or downsize, or get a bigger house because the family is growing, or stop paying rent, or jumping into a new job to start with the new year...whatever your reason is, that is the right time for you.

If your time is right feel free to contact me so we can start a marketing campaign to get your home sold or start looking for that place you can call home.

Buying a Home? Don't Let Fear Get in Your Way

by The KCM Crew on December 9, 2013 in Millennials    

Our founder, Steve Harney, occasionally asks to do a personal post on what he sees as important to our industry. Today we are reposting one of his favorites from this past summer. Enjoy! – The KCM Crew

Last week, I was talking to a young couple I know that was about to close on their first home. They were riding the wild rollercoaster of current mortgage rate swings and were not happy about the mortgage process overall. Yet, when the conversation shifted to finally living in a home that they own, their disposition changed dramatically.

A smile came across their faces as they talked about decorating their son’s bedroom and how much he will enjoy the backyard. They talked about inviting friends over for dinner and their family over for the holidays. The more they talked, the more excited they became.

I asked them if many of their friends were also buying. I was shocked to find out that they weren’t. Why not? Their friends believed that homeownership was financially unobtainable right now. Many wanted to own but didn’t think they could afford the monthly mortgage payment. They decided to rent instead.

I said that, with interest rates and prices where they are today, owning a home might not be any more expensive than renting one. The couple agreed but said their friends were afraid; afraid they might not qualify for a loan, afraid to handle negotiations with a seller, afraid of the home buying process itself.

Wow!

People should not make decisions out of fear! I’m not saying that every young person should own a home. I am saying that anyone that is qualified and wants to buy should not be afraid of the process. I realize the process may seem daunting but realize over 10,000 homes sell every day in this country. Sit down and discuss your goals with professionals from both the real estate and mortgage industries. Get the facts. Make an informed decision. Don’t let the fear of the unknown prevent you from living the life of your dreams.

When Will Mortgage Rates Hit 5%?

by The KCM Crew on November 26, 2013 in Interest Rates 

The big question for homebuyers is when interest rates will begin to rise to the 5% mark. The effect of a rise in mortgage rates could be a dramatic increase in the monthly mortgage payment when purchasing a home. In an article last week, HousingWire quoted two different sources regarding this issue.

Most experts are projecting that rates will rise when the Fed decides to taper the purchase of bonds which has acted as a stimulus to the housing market by keeping long term mortgage rates at historic lows.
In the article, Sterne Agee’s managing director and chief economist Lindsey Piegza pointed out:

"Federal Reserve officials said they might reduce their monthly bond buying program from $85 billion 'in coming months' as the economy continues to improve."

The article also quotes Frank Nothaft, chief economist with Freddie Mac:

“By the end of 2014, rates will probably approach and perhaps touch 5%. A reason we see the uptick in rates is that I do think some point the Federal Reserve will start to taper and scale back its very active purchase on long-term Treasuries and mortgage-backed securities.”

Rates will hit 5% sometime in 2014. It might be better to buy sooner rather than later.

If you are ready to make a move before you only think about the good old days call me and let's start looking for you dream home.

Noemi Cardoso
William Raveis Real Estate
Cell: 508-558-1945
www.DistinctiveHomes-NE.com

5 Reasons to Sell Before Spring

by The KCM Crew on November 2013 in For Sellers

Many sellers feel that the spring is the best time to place their home on the market as buyer demand increases at that time of year. However, the fall and winter have their own advantages. Here are five reasons to sell now.

Only Serious Buyers Are Out

At this time of year, only those purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere 'lookers'. The lookers are at the mall or online doing their holiday shopping.

There Is Far Less Competition

Housing supply always shrinks dramatically at this time of year. The choices for buyers will be limited. Don't wait until the spring when all the other potential sellers in your market will put their homes up for sale.

The Process Will Be Quicker

One of the biggest challenges of the 2013 housing market has been the length of time it takes from contract to closing. Banks have been inundated with both purchase and refinancing loan requests. Both of these will slow in the winter cutting timelines and the frustration these delays cause both buyers and sellers.

There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 25% from now to 2018. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30 year housing expense with historically low interest rates right now. There is no guarantee rates will remain at these levels in years to come.

It's Time to Move On with Your Life

Look at the reason you decided to sell in the first place and decide whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?
You already know the answers to the questions we just asked. You have the power to take back control of the situation by pricing your home to guarantee it sells. The time has come for you and your family to move on and start living the life you desire. That is what is truly important.

Noemi Cardoso
William Raveis Real Estate
Serving MA & RI
Cell: 508-558-1945
www.DistinctiveHomes-NE.com

Where Prices are Headed over the Next 5 Years

KCM Team - November 12th, 2013.

Today, many real estate conversations center on housing prices and where they may be headed. That is why we like the Home Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then average the projections of all 100+ experts into a single number.

The results of their latest survey

The latest survey was released last week. Here are the results:

• Home values will appreciate by 4.3% in 2014.
  
• The average annual appreciation will be 4.2% over the next 5 years 
  

The cumulative appreciation will be 28% by 2018.

Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of over 16.8% by 2018.

Individual opinions make headlines. We believe the survey is a fairer depiction of future values.

Should I Ren My House If I Can't Sell It?

by The KCM Crew on October 7, 2013 in For Sellers

There has been a lot written about how buying a home is less expensive than renting one in most parts of the country. Rents are skyrocketing and homes are still at great prices. These two situations are also causing some sellers to consider renting their home instead of selling it. After all, a homeowner can get great rental income now and perhaps wait until house values increase even further before selling.

This logic makes sense in some cases. We at KCM believe strongly that residential real estate is a great investment right now. However, if you have no desire to actually become an educated investor in this sector, you may be headed for more trouble than you were looking for.

Before renting your home, you should answer the following questions to make sure this is the right course of action for you and your family.

10 Questions to Ask BEFORE Renting Your Home

 

1.) How will you respond if your tenant says they can't afford to pay the rent this month because of more pressing obligations? (This happens most often during holiday season and back-to-school time when families with children have extra expenses).

2.) Because of the economy, many homeowners can no longer make their mortgage payment. What percent of tenants do you think can no longer afford to pay their rent?

3.) Have you interviewed a few experienced eviction attorneys in case a challenge does arise?

4.) Have you talked to your insurance company about a possible increase in premiums as liability is greater in a non-owner occupied home?

5.) Will you allow pets? Cats? Dogs? How big a dog?

6.) How will you actually collect the rent? By mail? In person?

7.) Repairs are part of being a landlord. Who will take tenant calls when necessary repairs arise?

8.) Do you have a list of craftspeople readily available to handle these repairs?

9.) How often will you do a physical inspection of the property?

10.) Will you alert your current neighbors that you are renting the house?

Bottom Line

 

Again, renting out residential real estate historically is a great investment. However, it is not without its challenges. Make sure you have decided to rent the house because you want to be an investor, not because you are hoping to get a few extra dollars by postponing a sale.

Noemi Cardoso
William Raveis Real Estate
Serving Bristol County MA & RI
www.DistinctiveHomes-NE.com

Top 10 Reasons To Hire A Real Estate Agent

Courtesy of: Park City Real Estate – JensenandCompany.com

Noemi Cardoso
William Raveis Real Estate
Mobile: 508-558-1945
Noemi.Cardoso@raveis.com

 

Real Estate without Freddie and Fannie

by THE KCM CREW on AUGUST 13, 2013 

in FOR BUYERS, FOR SELLERS

“The good news is right now there’s a bipartisan group of senators working to end Fannie and Freddie as we know them. And I support these kinds of reform efforts."

- President Obama, August 6th

Ending Freddie Mac and Fannie Mae will mean two things to the housing industry: higher rates and probably shorter mortgages. This will result in larger monthly mortgage payments.

Fannie Mae and Freddie Mac are government run agencies that have propped up a troubled real estate market over the last several years. The agencies always had a place within the mortgage sector but over the past several years have been involved in over 90% of new mortgage originations. As they wind down this involvement, the mortgage space may change dramatically.

David Stevens, CEO of the Mortgage Bankers Association and a former Obama administration housing official, in a recent AP article explains what will be the result of winding down Fannie and Freddie:

 

“You have to assume that almost in any future model being drafted, loans will be more expensive.”

This will be felt in two ways.

Higher Interest Rates

In the same AP article, Mark Zandi, chief economist at Moody’s Analytics, reveals:

 

“It will mean higher mortgage rates. The question is how much higher.”

According to Zandi, borrowers could pay about ½ point higher in interest rate ($75-$135 extra in interest payments per month to the average purchaser on a $200,000 loan).

 

Why a projected increase in rates? The average 30 year mortgage rate over the last three decades is 8.69%. From 2003-2008, it was 6.06%. Part of the government’s stimulus program was spent on keeping mortgage rates low while the economy recovered. Many think that rates will return to the 6-6.5 range should Fannie and Freddie cease operations.
 

Shorter Loan Terms

 

Once Freddie and Fannie no longer exist, the question becomes whether or not the private sector will any longer feel comfortable issuing a fixed rate loan for 30 years. In Canada, for example, they don’t even have 30 year fix rate mortgages available. The vast majority of Canadian home loans have a 25 year payout with the interest rate being renegotiated every five years. If rates go down, the borrower will wind up with a lower rate. If rates go up, the borrower ends up paying a higher rate. If you want a fixed rate mortgage for 25 years you pay a rate approximately two percentage points higher than the going rate at the time of your closing.

Some believe that the private sector will no longer make the 30 year mortgage option available for at least a portion of borrowers.

Bottom Line

It will be interesting to see how the winding down of the two agencies impacts the housing market going forward.

Noemi Cardoso
William Raveis Real Estate
508-558-1945
www.DistinctiveHomes-NE.com
 

Buying or Selling a Home? Where Are Values Headed?

by The KCM Crew on August 12, 2013

Today, many real estate conversations center around housing prices and where they may be headed. Some believe rapidly rising prices have created a new ‘housing bubble’. Others believe that the sudden rise in interest rates will impact purchasing power to such a degree that it will force prices downward. There is no lack of opinions and there is absolutely no consensus.

That is why we like the Home Price Expectation Survey. Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts and investment & market strategists about where prices are headed over the next five years. They then averages the projections of all 100+ experts into a single number.

The results of their latest survey

The latest survey was released last week. Here are the results:

• Home values will appreciate by 6.7% in 2013.
• The average annual appreciation will be 4.7% over the next 5 years
• The cumulative appreciation will be 23.7% by 2017.
• Even the experts making up the most bearish quartile of the survey still are projecting a cumulative appreciation of over 13% by 2017.

Individual opinions make headlines. We believe the survey is a fairer depiction of future values

Noemi Cardoso
William Raveis Real Estate
508-558-1945
www.DistinctiveHomes-NE.com

 

Selling a House: What Does it Take?

by The KCM Crew on July 2013. -  For Sellers, Pricing

The most important need of anyone attempting to sell their house is – TO GET IT SOLD! It is imperative that you, the agent, are very direct in what it takes to get a house sold. Here is a checklist we put together.

ACCESS

A seller should be willing to give almost unlimited access to potential purchasers if they are looking to sell. Any restrictions to showing the home will result in fewer buyers which could result in a lower price, a longer time on market or both.

CONDITION

Condition goes a long way in determining whether or not a house sells. Bringing in a professional stager is the ultimate answer. If that is not possible, the seller should at least be willing to remove all the clutter and ‘throw on’ a fresh coat of paint where necessary.

MORTGAGE OPTIONS

Very few owners are willing to give a first mortgage to a potential buyer. However, there are other mortgage options they perhaps should consider. Allowing FHA financing is an example. Perhaps, they would be willing to help the buyer out with a seller’s concession. The easier it is for a purchaser to finance the home, the greater the chance more buyers will be interested.

PRICE

Every house must be sold twice: to the buyer and to the bank if a mortgage is involved. To get a home sold the price has to be right. There are studies that have shown that listing a house at a price greater than the market warrants results in that home taking a longer time to sell and also selling for less money.

When selling we are the professional you have been looking for. Giver us a call and let's discuss the best online marketing plan to get your home SOLD!

Noemi Cardoso
William Raveis R.E.
Serving MA & RI
508-558-1945
www.DistinctiveHomes-NE.com
 

Talking Real Estate

 

If you are ready to buy before the numbers starts to change give me a call and let's start looking for that home you've been dreaming of.

 

Noemi Cardoso

Cell: 508-558-1945

www.DistinctiveHomes-Ne.com

Noemi.cardoso@raveis.com