taunton ma: Will I have the “American Dream” again?? - 12/12/10 11:58 AM
December 12, 2010
I recently received an email from a person who was very distraught over the necessity of having to go through a short sale. The simple fact of needing the short sale was very upsetting to her, but she was also upset over the fact that she was told that she would not be able to own a home again for at least 5 years!!!
I was shocked when she said that to me.
I asked her who told her such a thing? She informed me that her bank had indicated that to her.
That left me thinking … (5 comments)
|
taunton ma: Short Sales explained. 2 in a 10 part series - 12/09/10 02:40 PM
Please take a moment and watch the 2nd in a 10 part series on short sales. After having successfully completed well over 50 short sales and having 16 currently pending I am uniquely skilled and qualified to assist in handling even the most challenging of situations.
… (8 comments)
|
taunton ma: Short Sales are time consumming and intense BUT uneducated or lazy agents make them tough! - 12/07/10 05:29 AM
At this very moment I have 23 active short sale files.
I just wanted to let that sentence sink in. Give it the attention and thought that it deserves. That is a good number of active short sale files. Not bragging or looking for accolades just want you to realize how many files I work on at once so that you possibly can see why an agent who doesn't want to listen to how the process is OR an agent who just wants to play "pass the buck" is truly an unnecessary nuisance in this market.
A short sale is … (7 comments)
|
taunton ma: New FHA Guideline on flipping properties - 10/07/10 03:46 PM
There is a new rule from FHA concerning foreclosed properties that are being sold within 90 days of the foreclosure that you need to be aware of going forward. If a property was foreclosed within 90 days of being resold (P&S date not closing date) and is being sold at a price of at least 20% or more of the foreclosure price, then the Lender is now required to order a Home Inspection. We cannot use any inspection done by the buyers even if it's by the same inspection company we use, which is Tiger Home Inspection. Any items listed MAY be … (0 comments)
|
taunton ma: Foreclosure Sales down for Quarter 2 - 09/30/10 01:57 PM
According to an Inman News Report foreclosure sales (properties that are purchased either already bank owned OR have already started the foreclosure process and need lender approval) have dropped 4.9% from Quarter 1 and over 20% from the same quarter last year.
Is that a sign that we are on the mend?????? Not quite yet. The numbers showed a decline due to the total number of sales jumping so much in the 2nd quarter due to the impending expiration of the tax credit. Many more thousands of units sold which put the numbers of foreclosure sales as a smaller percentage.
Massachusetts … (2 comments)
|
taunton ma: A quick and easy excel budgeter - 09/25/10 09:56 AM
While surfing the internet I came across this budget spreadsheet that I thought was quick and simple. There are plenty of costly and some free programs that will help you figure out your spending but they can be so difficult and/or time consuming to learn and use. The thought of creating my own spreadsheet is enough to make me want to poke pencils through my ears!!!!!
Download Lauren's Budgeter (XLS)
1. Scroll to the current month.2. Enter your current balance in the "Starting Balance" box at the top left.3. Enter your credits and debits on the appropriate dates they … (1 comments)
|
taunton ma: Is your homestead act still protecting you??? - 09/11/10 09:47 PM
I received an email earlier today from a past client asking me if the homestead act they had filed when they purchased was still valid after they refinanced.
The answer is NO.
I have heard different attorneys give different answers to that questions, and I had 1 attorney once respond "That there are different schools of thought on this issue......".
The only school I want and am interested in is protection! Real estate agents and attorneys have always assumed that the exemption was subordinate to a pre-existing mortgage, but believed the Homestead otherwise remained valid when a new refinance mortgage was … (1 comments)
|
taunton ma: Searching for your new home???? - 07/31/10 12:15 PM
THE ROAD MAP TO YOUR HOME!NARROWING THE SEARCH"If you don't know where you're going ... you'll probably end up somewhere else."
Taken from a book title, this quote conveys a very simple message:To achieve an objective, create a plan!
If you plan to buy a home soon, you will need to know "where you are going." For a most enjoyable home-buying experience, first build a road map to your new home, a list of priorities that will lead you to your objective-a new home!
The first priority is time frame.
Write down the date by which you would like to move … (0 comments)
|
taunton ma: Short Sale vs Foreclosure - 07/25/10 08:45 PM
… (6 comments)
|
taunton ma: Zillow by their own reporting is NOT an accurate source for property values - 10/05/09 04:14 PM
With all the information out there avaiable to home sellers and home buyers, finding and getting the right information becomes a challenge.
Zillow is one of the most well known property valuation websites, but if you are using it to decide what to place your home on the market for or what the home you are looking to buy is worth you will getting inaccurate or irrelevant information.
This is a portion of the Zillow Data Coverage and Zestimate Accuracy graph. As you can see in Bristol County they are only within 5% of the sale price 24% … (3 comments)
|
taunton ma: WARNING - If you or anyone you know has a mortgage pending with Taylor Bean and Whitaker - 08/06/09 01:18 PM
Taylor Bean and Whitaker, (third largest FHA servicing lender in the country) has ceased operations effective immediately. They just sent out a press release. They will not be closing or funding ANY loans in their pipelines. They were simultaneously shut down by FHA, Freddie Mac and Ginne Mae. This is going to affect a great many loans in this area. They had a major branch in Braintree which serviced many brokers and lenders in this area.
If you applied and were approved for a mortgage with TBW or have a buyer on your home that is using TBW this loan will NOT close. … (0 comments)
|
taunton ma: 2009 Federal Tax Credit and the local home buyer - 03/26/09 06:37 AM
With all the talk about the stimulus package and what it means to YOU the homebuyer I would like to point you in the direction of my website to get accurate information on how you can benefit.
I have provided a 20 second video along with a detailed description of how this $8,000 Federal Tax Credit can provide you with extra $$$$$$$$ almost immediately. This money is NO longer a 0% interest loan as was the $7,500 Tax Credit. This is a true credit.
How can you go wrong buying a home now???? Fact - Interest rates are AMAZINGLY LOW (4.85% … (2 comments)
|
taunton ma: The Mortgage Bankers Association Interview - 03/12/09 06:54 AM
The real estate market in Massachusetts is not nearly as bad as the National Media likes to report. In fact, Massachusetts ranks the the TOP 10 (#7) of the Best Real Estate Markets in the nation. The foreclosure rate in Massachusetts is not even in the top 15 of the highest in the nation. So, having the correct facts at hand paints a different picture of the real estate market that we are in locally.
That being said we are still having a very real problem with the short sales. The horrendous and painfully slow pace at which they operate is putting … (5 comments)
|
taunton ma: If you are a renter please read this: - 01/27/09 05:42 AM
If you currently rent an apartment, single family home, condo, or some other type of housing please read this.
Due to the unfortunately large number of foreclosures innocent renters are being forcibly displaced. Fannie Mae is now taken steps to prevent or delay the evictions on homes that they foreclose upon.
Please read the following article:
Fannie Mae Announces National REO Rental Policy
Not all properties are Fannie Mae foreclosures so you would need to verify if this applies to you. Fannie Mae will be notifying tenants in their properties of this availability.
With the home prices being so affordable and … (2 comments)
|
taunton ma: My 4-1-1 in Progress - 01/18/09 07:32 AM
For the first time in my almost 14 year career I put a business plan in place. It has been 1 week since I started it (I know this isn't a long period of time but everything starts with the 1st day than week) and I am both excited and anxious.
This 4-1-1 is without a doubt a work in progress. When I first sat down with my pencil and paper I wanted to accomplish everything - if you saw the plan you would have laughed. After a couple of days, almost having an anxiety attack trying to meet or bite … (31 comments)
|
taunton ma: What a shocking statement!!!! - 01/12/09 05:11 AM
I am sitting here working on my daily agenda. Thinking about my 20% that MUST be done and how much of the 80% I can't fit in.
Well, I have the t.v. on as background noise on CNN - maybe I can subliminally digest some pertinent information. I am sure this is a repeat BUT I know it is from a recent show, as the economy is being discussed.
Suze Orman is the guest speaker giving out her financial advice to people calling in. She made 2 statements that both amazed and shocked me at the same time.
1.) In her usual … (16 comments)
|
taunton ma: If I had a million dollars...... - 12/08/08 02:56 PM
Why can't I re-negotiate my commission in the offer??
I have to put this down as one of my BIGGEST pet peeves as a listing agent, and also one of the most frequently committed Code of Ethics Violation.
"Hi, my name is Mary and I have an offer for your listing and I don't like what the seller and/or you are paying me so I put into the offer that it is subject to me getting $1,000,000.00 or this is not a deal!"
Okay, now that may be just a wee-bit more drastic than I ever see it but nevertheless it … (14 comments)
|
taunton ma: How do I know if my short sale or foreclosure loss is taxable? - 11/15/08 04:41 PM
As an agent that handles a lot of short sales I come across many questions regarding the possible tax implications. The Mortgage Forgiveness Debt Relief Act of 2007 which covers all homes sold or modified in 2007, 2008, and 2009 has cancelled out many homeowners obligation to pay income taxes on the so called "gifted" income (the difference between what you owe and what it sells for).
Unfortunately, this new law does not cover all homeowners.
The next challenge is to figure out how much of the "gifted" money is taxable.
In the eyes of the IRS if you bought … (2 comments)
|
taunton ma: BERKLEY - MARKET REPORT MARCH 2008 - 04/12/08 11:34 AM
Berkley, MATotal Market Report is provided to give you an overall picture of the current market conditions.The following report is for single family homes sold in Berkley from March 1, 2008- March 31,2008.Single Family HomesNumber of Homes on Market 48 (UP 2 since last report)Average Days on the Market 147Number of Homes U.A.G 7Average Price of U.A.G. Homes $349,814Number of Homes Sold 3Average Sold Price $286,833 ~$180,000 As of March 8, 2008 ~$344,250 As of February 7, 2008 ~$349,000 As of January 8, 2008 ~$262,442 As of December 9, 2007 ~$243,125 As of November 7, 2007 ~$645,500 As of October 4, 2007 ~$331,000 As of Sept.1, 2007 ~$349,073 AS OF AUG. 4, 2007 ~$356,473 AS OF … (0 comments)
|
taunton ma: Homes Sales and prices dropping at staggering rates - 03/26/08 06:53 AM
This chart recently released from Banker and Tradesman clearly shows the decrease in the number of sales from last year to this year. On average in the state sale prices have dropped 9% since the same time last year, locally we have seen more of a 13% - 15% decrease.The price drop is the steepest monthly decline in 18 years, according to The Warren Group, parent company of Banker & Tradesman. Some analysts predict that market conditions will continue to deteriorate, as foreclosure activity mounts and more homes are sold at discount prices.
It's a simple supply-and-demand situation. We have an … (6 comments)
|
;)
;)
