We found the following article regarding the increase in home sales overall in the month of June in Massachusetts and wanted to share it here with our readers. Even in the absence of government tax credits, the prices and rates for homes make this a great time to buy.
Mass. June home sales hit 4-year high
Expiring US tax credit sparks 5,726 deals as median prices edge up
By Jenifer B. McKim
Globe Staff / July 28, 2010
Motivated by the looming expiration of a federal tax credit, Massachusetts buyers snapped up 5,726 single-family homes in June, the highest number of monthly sales in four years, according to new data released yesterday.
Sales increased 28 percent in June compared with the same month last year, according to Warren Group, a Boston company that tracks real estate data. Year-to-date numbers also rose 28 percent, to 21,400, over the same period last year.
Condominiums were popular with buyers as well, with 2,511 sales in June, 31 percent more than last year, Warren Group said. Condo sales from January to June rose to 9,735, a 30 percent jump from the same time last year.
Kevin Sears, the president of the Massachusetts Association of Realtors, attributed the sales increase to the federal home buyer’s tax credit, which required a binding contract on a home purchase to be in place by April 30 to qualify for up to $8,000 in savings. Buyers originally had until June 30 to close, but Congress recently extended the deadline to Sept. 30.
“The tax credit did its job and got the market moving again,’’ said Sears, a broker and co-owner of Sears Real Estate in Springfield. “The activity over the next couple of months will answer whether the momentum was sustained.’’
Along with sales, median prices increased last month. The median price of a single-family home hit $325,000 in June, a 7 percent increase from June 2009 and the first time this year that median prices surpassed $300,000, Warren Group said.
The median condo price remained at $282,000 in June, a 1.8 percent increase from a year earlier. Median prices for the year so far were up 5.7 percent to $259,000, compared with the first six months of 2009.
Timothy M. Warren Jr., Warren Group’s chief executive, said June is typically a good month for the real estate business. “That factor paired with the tax credit made for a very strong month,’’ he said.
Other real estate data released yesterday also indicated Boston-area housing values may be stabilizing. The S&P/Case-Shiller Home Prices Indices, which measure repeat home sales, showed that Boston home val ues increased by 1.6 percent in May compared with the month before and 4.8 percent from a year ago. Nationwide, home values rose about 1.3 percent in May compared with April, according to the Case-Shiller data.
David M. Blitzer, chairman of the index committee at Standard & Poor’s, said economists will be watching what happens in the housing market over the next few months to see if the improved numbers can be sustained without the incentive of a lucrative tax break.
“It still looks possible that the housing market might bounce along the bottom for the foreseeable future, before showing any real improvement that will filter through to the rest of the economy,’’ Blitzer said.
Jenifer B. McKim can be reached at jmckim@globe.com.
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Home Source Realty Group are Massachusetts discount real estate brokers headquartered in Dedham MA and serving all of Eastern Massachusetts. They offer unique services including UP TO A 50% COMMISSION REBATE, COMPLIMENTARY BUYER ATTORNEY services, and DISCOUNT MORTGAGE REFERRALS!!! To learn more visit them online at www.HomeSourceRealtyGroup.com.
Showing posts with label ma real estate. Show all posts
Showing posts with label ma real estate. Show all posts
Monday, August 2, 2010
Friday, June 25, 2010
What is a “Short Sale”?
A short sale in real estate is used to either stall or avoid possible foreclosure on a home. Rather than purchasing the real estate from the seller you purchase it directly from the holder at a discount. The seller may owe $200,000 on the mortgage, but you offer $150,000 directly to the lender who accepts it as payment in full.
There are several reasons why holders of mortgages would be willing to accept these transactions. First, banks are not in the business of real estate, they are in the business of making money. Having excess properties on their books does not increase their income, it detracts from it. If the opportunity exists for them to mitigate these losses in the form of accepting less, rather than losing the entire amount, they will do it.
Second, note holders realize that they stand to lose a lot of money if the property is not sold, or goes to auction. Additionally, there are more fees involved in the auction process. It is definitely preferable for the mortgage company to take your offer and not have to deal with the property any longer.
Although foreclosures are prevalent, lenders are most willing to entertain a short sale when the property is in pre-foreclosure.
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Home Source Realty Group are Massachusetts discount real estate brokers headquartered in Dedham MA and serving all of Eastern Massachusetts. They offer unique services including UP TO A 50% COMMISSION REBATE, COMPLIMENTARY BUYER ATTORNEY services, and DISCOUNT MORTGAGE REFERRALS!!! To learn more visit them online at www.HomeSourceRealtyGroup.com.
There are several reasons why holders of mortgages would be willing to accept these transactions. First, banks are not in the business of real estate, they are in the business of making money. Having excess properties on their books does not increase their income, it detracts from it. If the opportunity exists for them to mitigate these losses in the form of accepting less, rather than losing the entire amount, they will do it.
Second, note holders realize that they stand to lose a lot of money if the property is not sold, or goes to auction. Additionally, there are more fees involved in the auction process. It is definitely preferable for the mortgage company to take your offer and not have to deal with the property any longer.
Although foreclosures are prevalent, lenders are most willing to entertain a short sale when the property is in pre-foreclosure.
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Home Source Realty Group are Massachusetts discount real estate brokers headquartered in Dedham MA and serving all of Eastern Massachusetts. They offer unique services including UP TO A 50% COMMISSION REBATE, COMPLIMENTARY BUYER ATTORNEY services, and DISCOUNT MORTGAGE REFERRALS!!! To learn more visit them online at www.HomeSourceRealtyGroup.com.
Wednesday, March 31, 2010
Smoke Detectors are Important When Selling or Buying a Home in MA or RI
Most homeowners have smoke detectors installed and they are fully operational. However, some homeowners disable them, in particular those near bathrooms and kitchens, due to the annoyance factor of having the smoke alarm go off every time they make toast.
According to Massachusetts and RI State Laws, all homes are inspected by a state fire Marshall prior to being sold to ensure that every smoke detector is in good and working order. If you are the agent responsible for showing and selling the home, or a homeowner selling your own home, you will need to make sure that all the smoke detectors are working before the Marshall arrives to inspect them, or you will run the risk of delaying the sale or closing until they can return to inspect the property again.
If you are thinking about buying or selling a home in Massachusetts or Rhode Island, contact Home Source Realty Group to discuss your options with a friendly, professional agent.
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Home Source Realty Group are Massachusetts discount real estate brokers headquartered in Dedham MA and serving all of Eastern Massachusetts. They offer unique services including UP TO A 50% COMMISSION REBATE, COMPLIMENTARY BUYER ATTORNEY services, and DISCOUNT MORTGAGE REFERRALS!!! To learn more visit them online at www.HomeSourceRealtyGroup.com.
According to Massachusetts and RI State Laws, all homes are inspected by a state fire Marshall prior to being sold to ensure that every smoke detector is in good and working order. If you are the agent responsible for showing and selling the home, or a homeowner selling your own home, you will need to make sure that all the smoke detectors are working before the Marshall arrives to inspect them, or you will run the risk of delaying the sale or closing until they can return to inspect the property again.
If you are thinking about buying or selling a home in Massachusetts or Rhode Island, contact Home Source Realty Group to discuss your options with a friendly, professional agent.
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Home Source Realty Group are Massachusetts discount real estate brokers headquartered in Dedham MA and serving all of Eastern Massachusetts. They offer unique services including UP TO A 50% COMMISSION REBATE, COMPLIMENTARY BUYER ATTORNEY services, and DISCOUNT MORTGAGE REFERRALS!!! To learn more visit them online at www.HomeSourceRealtyGroup.com.
Tuesday, March 16, 2010
What Does a Closing Attorney Do At a Closing?
With so many Massachusetts and Rhode Island homeowners opting to sell their own property, and some at very good prices, what should a buyer of real estate know to make an informed choice?
First, you should never enter into any real estate transaction without the benefit of the advice of a good RI or MA real estate attorney. Real estate attorneys do much more than simply show up for the closing.
Many home owners, buyers and sellers alike, have no idea of the issues involved in closing on a piece of property. Title search issues alone can delay or negate closings and make finding the problem impossible to anyone that is not qualified in real estate matters. Taken together with the many municipal and state regulations, the final paperwork and closing documents necessary to legally transfer the property, setting up insurance on the property, making certain that there are no liens, and the remaining list of items before ownership can be transferred, it is definitely in everyone’s best interest to hire a closing attorney for any real estate transaction.
Home Source Realty Group of Massachusetts offers the services of a professional real estate attorney for every closing, free of charge.
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Home Source Realty Group are Massachusetts real estate brokers headquartered in Dedham MA and serving all of Eastern Massachusetts. They offer unique services including UP TO A 50% COMMISSION REBATE, COMPLIMENTARY BUYER or SELLER ATTORNEY services, and DISCOUNT MORTGAGE REFERRALS!!! To learn more visit them online at www.HomeSourceRealtyGroup.com.
First, you should never enter into any real estate transaction without the benefit of the advice of a good RI or MA real estate attorney. Real estate attorneys do much more than simply show up for the closing.
Many home owners, buyers and sellers alike, have no idea of the issues involved in closing on a piece of property. Title search issues alone can delay or negate closings and make finding the problem impossible to anyone that is not qualified in real estate matters. Taken together with the many municipal and state regulations, the final paperwork and closing documents necessary to legally transfer the property, setting up insurance on the property, making certain that there are no liens, and the remaining list of items before ownership can be transferred, it is definitely in everyone’s best interest to hire a closing attorney for any real estate transaction.
Home Source Realty Group of Massachusetts offers the services of a professional real estate attorney for every closing, free of charge.
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Home Source Realty Group are Massachusetts real estate brokers headquartered in Dedham MA and serving all of Eastern Massachusetts. They offer unique services including UP TO A 50% COMMISSION REBATE, COMPLIMENTARY BUYER or SELLER ATTORNEY services, and DISCOUNT MORTGAGE REFERRALS!!! To learn more visit them online at www.HomeSourceRealtyGroup.com.
Wednesday, March 10, 2010
MA First Time Buyer Seminar
Home Source Realty Group Offers First Time Buyers Seminar
MA real estate service Home Source Realty Group are offering a First Time Home Buyer’s Seminar that no prospective first time buyer should miss. The seminar will be held on Thursday May 13, 2010 from 7:00PM to 9:00PM at the Burlington Recreation Conference Room.
First time home buyers face a fair amount of information that they must understand and digest when buying a home. There is also a lot that goes into buying property that first time home buyers are not aware of.
Home Source Realty Group is a full service Massachusetts and Rhode Island agency that is unique because they also offer their own legal services to buyers. This service eliminates the need for the buyer to hire a separate attorney for the closing, making the entire process a lot simpler for all involved, but in particular, for the buyers and sellers of real estate.
If you are interested in attending the seminar or would like more information, contact Pat or Joanne at patandjoanne@2vs1getsjobdone.com, or call 781-229-TEAM (8326).
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Home Source Realty Group are Massachusetts real estate brokers headquartered in Dedham MA and serving all of Eastern Massachusetts. They offer unique services including UP TO A 50% COMMISSION REBATE, COMPLIMENTARY BUYER or SELLER ATTORNEY services, and DISCOUNT MORTGAGE REFERRALS!!! To learn more visit them online at www.HomeSourceRealtyGroup.com.
MA real estate service Home Source Realty Group are offering a First Time Home Buyer’s Seminar that no prospective first time buyer should miss. The seminar will be held on Thursday May 13, 2010 from 7:00PM to 9:00PM at the Burlington Recreation Conference Room.
First time home buyers face a fair amount of information that they must understand and digest when buying a home. There is also a lot that goes into buying property that first time home buyers are not aware of.
Home Source Realty Group is a full service Massachusetts and Rhode Island agency that is unique because they also offer their own legal services to buyers. This service eliminates the need for the buyer to hire a separate attorney for the closing, making the entire process a lot simpler for all involved, but in particular, for the buyers and sellers of real estate.
If you are interested in attending the seminar or would like more information, contact Pat or Joanne at patandjoanne@2vs1getsjobdone.com, or call 781-229-TEAM (8326).
-----------------------------------------------
Home Source Realty Group are Massachusetts real estate brokers headquartered in Dedham MA and serving all of Eastern Massachusetts. They offer unique services including UP TO A 50% COMMISSION REBATE, COMPLIMENTARY BUYER or SELLER ATTORNEY services, and DISCOUNT MORTGAGE REFERRALS!!! To learn more visit them online at www.HomeSourceRealtyGroup.com.
Tuesday, February 9, 2010
What Home Source Realty Group Offers:
Buyer Broker Services
* When we work with you as a "Buyer Broker" we rebate from 20% to 50% of our commission back to you at closing. This is really a "win/win" situation since that commission is paid by the Seller. Call or email us to learn more about how this rebate applies. The total savings to you on an average priced property is usually several thousand dollars.
* As your Buyer Broker we will do a Comparative Market Analysis of any properties that you are interested in.
* We can set you up to receive automatic emails of any new properties that come on the market in certain towns/price ranges. We can accompany you to view properties OR you can view them on your own and we will assist you when it's time to make an offer. We can structure your Buyer Broker representation to be as "hands-on" or "hands-off" as you need.
Buyer Attorney Services
* Home Source Realty Group is owned by Attorneys who have specialized in Real Estate Law for over 16 years. We can perform a full title search on any property that you would like to make an Offer on. You will be offered the complimentary legal services of a real estate attorney from the beginning of your search until the closing.
Discount Mortgage Referrals
* We work with dozens of local and national mortgage brokers and direct lenders. We can refer you to a mortgage professional that will offer discounted fees and competitive rates and products. We personally know these lenders and have successfully closed hundreds of loans with them.
Entry Only Listings
* For a flat fee of $300.00 we will list your home on MLS. MLS is the most effective and inexpensive way to advertise your home for sale. We take pictures and enter your listing on MLS using the content that you give us. Open houses, other advertising, showings etc will be handled by you.
For more information about Entry Only Listings or our Full-Service Listing Services please fill out this form to contact us: Listing Your Home for Sale with Home Source
Since we offer the services of Buyer Broker, Buyer Attorney, and Mortgage Professional from start to finish, we can ensure that you are in an optimum negotiating position when you are ready to make an offer and that you are fully protected throughout the home-buying process!
-----------------------------------------------
Home Source Realty Group are Massachusetts real estate brokers headquartered in Dedham MA and serving all of Eastern Massachusetts. They offer unique services including UP TO A 50% COMMISSION REBATE, COMPLIMENTARY BUYER or SELLER ATTORNEY services, and DISCOUNT MORTGAGE REFERRALS!!! To learn more visit them online at http://www.homesourcerealtygroup.com/.
* When we work with you as a "Buyer Broker" we rebate from 20% to 50% of our commission back to you at closing. This is really a "win/win" situation since that commission is paid by the Seller. Call or email us to learn more about how this rebate applies. The total savings to you on an average priced property is usually several thousand dollars.
* As your Buyer Broker we will do a Comparative Market Analysis of any properties that you are interested in.
* We can set you up to receive automatic emails of any new properties that come on the market in certain towns/price ranges. We can accompany you to view properties OR you can view them on your own and we will assist you when it's time to make an offer. We can structure your Buyer Broker representation to be as "hands-on" or "hands-off" as you need.
Buyer Attorney Services
* Home Source Realty Group is owned by Attorneys who have specialized in Real Estate Law for over 16 years. We can perform a full title search on any property that you would like to make an Offer on. You will be offered the complimentary legal services of a real estate attorney from the beginning of your search until the closing.
Discount Mortgage Referrals
* We work with dozens of local and national mortgage brokers and direct lenders. We can refer you to a mortgage professional that will offer discounted fees and competitive rates and products. We personally know these lenders and have successfully closed hundreds of loans with them.
Entry Only Listings
* For a flat fee of $300.00 we will list your home on MLS. MLS is the most effective and inexpensive way to advertise your home for sale. We take pictures and enter your listing on MLS using the content that you give us. Open houses, other advertising, showings etc will be handled by you.
For more information about Entry Only Listings or our Full-Service Listing Services please fill out this form to contact us: Listing Your Home for Sale with Home Source
Since we offer the services of Buyer Broker, Buyer Attorney, and Mortgage Professional from start to finish, we can ensure that you are in an optimum negotiating position when you are ready to make an offer and that you are fully protected throughout the home-buying process!
-----------------------------------------------
Home Source Realty Group are Massachusetts real estate brokers headquartered in Dedham MA and serving all of Eastern Massachusetts. They offer unique services including UP TO A 50% COMMISSION REBATE, COMPLIMENTARY BUYER or SELLER ATTORNEY services, and DISCOUNT MORTGAGE REFERRALS!!! To learn more visit them online at http://www.homesourcerealtygroup.com/.
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