There could be a number of reasons for the recent jump, but according to an article in the Austin Business Journal, home remodeling has risen to its highest level in seven years. 

Figures released indicate an increase of 22% in May from a year ago which marks 19 straight months of gains.  These numbers put home remodeling levels at their highest since Buildfax started tracking these figures in 2004.

This bodes well for construction workers who hitherto fore have been gainfully employed building new homes.  With the decline in housing starts home improvement projects will certainly help to put some of these contractors back to work. 

Joe Emison, vice president of research and development at BuildFax calls it a “bright spot” in an otherwise struggling environment.  His observation is a positive one that home owners are looking to upgrade their current homes rather than purchasing a new one.

NAHB’s Chairman, Bob Nielsen also expressed optimism over the recent increases with hopes that this activity will continue to climb based on the current trend. 

But, what does this say about the economy, in general – and more specifically about the housing market?

Are potential home buyers throwing in the towel on the possibility of selling their homes and trading up as has generally happened in the past?  This may or may not be the only cause for the uptrend in home remodeling.

As we have readily observed over the past few years, home buyers have become extremely particular about the houses they will even consider for purchase.  While there was, at one time, a strong market for low-cost “fixer-uppers” those times have long since passed.  These days, the only people interested in buying a home that needs work are investors who intend to renovate and flip for a profit. 

Today’s home buyer is not necessarily willing to invest in “sweat equity” since there are so many homes on the market right now that are not selling.  Why buy a home that needs work when you can hold out for one that is already in move-in condition?

I was recently asked by friends who are contemplating the sale of their home if I recommended that they sell as-is or make repairs and improvements.  My best advice was to definitely improve their home, within reason.  Buyers are just not considering the homes that need TLC (tender loving care) right now.  They are, and can be, more discerning than that. 

Could this then be a large part of the increase in the home remodeling figures - owners who are considering selling their abodes but are wisely advised to indulge in some remodeling prior to putting it on the market?

This may not be a question of home owners who are fearful and planning on staying put - but rather to renovate, sell and move up. 

We can only hope.

Copyright 2011 "Home Remodeling on the Upswing - Is it a Good Thing?"

This post was written by  

Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230 

An Exclusive Buyer Brokerage serving the Greater Metrowest area 

MLS Property Search With No Registration Required  

The Elements of a Massachusetts Offer to Purchase Real Estate 

Once you have found the perfect home, it is the job of your Realtor® to write up an Offer to Purchase. Since Massachusetts has a two-contract process, the Offer to Purchase is the first step, to be followed in 7 days to a week by the Purchase and Sale Agreement. 

The Massachusetts Offer to Purchase is typically written on the standard preprinted form provided by the local board.  However, the contingency pages are another matter. These pages are specifically geared to protect your interests as a home buyer, and specifically - your deposit.

The contingencies should always include the following:

The Financing Contingency - This states the amount of financing you will be applying for and accomplishes two things. One, it protects your deposit should your financing be turned down and states that if you are unable to obtain your loan by a certain date, you may withdrawn from the transaction and have your deposit money returned.  Two, it tells sellers how strong a buyer you are. They can see from the mortgage amount whether you are a 5%, 10%, 20% down or more buyer and this could be a factor in a multiple offer situation. 

The Home Inspection Contingency - Written into the offer is a time-frame, usually one week, to give you a chance to have the property inspected. This gives you a chance to thoroughly inspect the property you are buying along with a professional home inspector.  It should be written in a way that allows you to get out of the transaction, if the home does not meet your needs, with your deposit returned.

Additional Contingencies - These will be tailored to meet the particular circumstances of the buyers' needs. For example, perhaps there is an unknown fact about the property that must be checked into, i.e., "Offer is contingent on information regarding the adjacent vacant lot." 

The body of the offer should contain the following:

• address of the property
• the brokers involved in the transaction
• the offer price
• initial binder (typically $1,000)
• the additional deposit to be put down at Purchase and Sale (usually 5% of the purchase price minus the $1,000 deposit         
• the date of the Purchase and Sale Agreement (usually within two weeks)
• the closing date
• who will be holding the deposit (typically the listing agency)
• what is included in the sale (i.e., refrigerator, washer, dryer)
• any additional terms of the offer.

Keep in mind that the price is not the only point of negotiation, although it is usually the strongest.  Other factors are: how strong you are financially, if your closing date is agreeable with the seller's plans and how flexible you can be.

Some Massachusetts home buyers make the mistake of thinking that since the Purchase and Sale Agreement will be the ultimate contract, the Offer to Purchase is unimportant.

Make no mistake - The Offer to Purchase Real Estate is a legally-binding document and one that needs to be written with great care.

Copyright 2011 "The Elements of a Massachusetts Offer to Purchase Real Estate "

This post was written by 

Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230

An Exclusive Buyer Brokerage serving the Greater Metrowest area

MLS Property Search With No Registration Required 

Buying a Home in Massachusetts - What to Expect at Your Closing 

All the heavy lifting has been done.  You have completed your home search, found the perfect house, been through an inspection, signed the purchase and sale agreement, secured your mortgage financing and conducted a final walk-through. The time for your closing has finally arrived and there are some details that you should be aware of. 

Who attends your Massachusetts closing? 

A closing is usually attended by your buyer agent, the listing agent, the closing attorney and, sometimes your attorney. It is a good idea to have your attorney present if at all possible.  But, the next best thing is to make sure that she is reachable, in the event of any last minute issues. 

Items you must bring to your Massachusetts closing: 

• Identification.  Your driver's license with a photo or some other official photo I.D.  It is wise to bring a second form of identification just in case. If you are not an American citizen, be sure to bring your passport.
• Your Homeowner's Insurance Binder.  A couple of weeks prior to closing you should contact an insurance company, let them know you are going to be purchasing and home and give them all of the necessary information for them to create a homeowner's insurance policy for you.  This needs to be paid a year in advance and brought to your closing so the home is fully insured the moment it becomes yours.
• Personal Checks. There may be some last-minute items that need to be paid at the closing table.  One example of this is a payment for the oil that is currently in the tank.  There could possibly be other incidentals as well and it's always better to be prepared.
• The Funds for your Purchase. Prior to your closing, usually 24 to 48 hours before, the closing attorney should provide you with the exact figure that you will need to bring.  This needs to be in the form of a bank check so be prepared to make a trip to the bank just prior to closing.  The check should be made payable to yourself for safety.  You will endorse it over to the closing attorney at the closing.
• A Strong Writing Hand.  You will be signing numerous documents which are mostly for the bank.  The attorney's office will supply you with a pen - but the writing strength must be your own.

Items that are brought by the seller:  

• Keys to the home along with any garage door openers
• Certifications from the local fire department that the smoke and carbon monoxide detectors are functioning
• A final water and sewer reading that has been paid
• An official reading of the amount of oil that is in the tank
• A signed deed to the home
• If the home is on private septic, a copy of the Title V Report
• A copy of their last paid real estate bill
• Paid invoices for any repairs that were promised

Filing for Homestead Protection at your Massachusetts Closing

The Massachusetts Homestead Act provides you with protection against lawsuits.  There is now an automatic protection of $125,000 even if you do not file.  But if you do file, you are afforded protection of $500,000.  The closing attorney should have the necessary papers for you to sign. 

When is the home officially yours?  

After the papers are signed, the deed must be filed at the Massachusetts Registry of Deeds. If your closing takes place at the registry, this will happen within minutes.  However, most closings are done at an attorney's office.  In that case, a specially designated person will pick up the deed and bring it to the registry within the hour.

When all of the documents have all been signed, money has changed hands and the keys are handed to you, your closing is done.

You are now, officially, a homeowner.

Copyright 2011 "Buying a Home in Massachusetts - What to Expect at Your Closing"

This post was written by 

Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230

An Exclusive Buyer Brokerage serving the Greater Metrowest area

MLS Property Search With No Registration Required 

Massachusetts Real Estate Closings Must Now be Conducted by Attorneys 

An important ruling was handed down last week concerning the role of attorneys in Massachusetts real estate closings.  The decision will have, not only an impact on the legal profession in The Commonwealth, but will also affect home buyers. 

A dispute that began in 2006 between the Real Estate Bar Association and National Real Estate Information Services was settled by the Massachusetts Supreme Judicial Court. 

The original argument stated that closing companies such as NREIS and their provision of services to mortgage lenders which included the practices of title examinations, drafting closing documents and disbursing settlement funds amounted to "the unauthorized practice of law."  Via an article in The Boston Globe. 

This case was originally ruled on in 2009 by a U S District Court judge who found in favor of the Pennsylvania based real estate services company.  The local real estate bar was ordered to pay nearly $1 million in fees and court costs.  However, last year a federal court overturned the ruling and sent questions to the Supreme Judicial Court.  The main question was - whether or not real estate closings need to be performed only by licensed attorneys. 

The Massachusetts Supreme Judicial Court made its decision last Monday requiring "substantive participation" of attorneys in all real estate transactions thereby limiting the amount of work that can be outsourced to out-of-state entities that have had an interest in taking over the main functions of local residential closings. 

Why is this decision so critical to home buyers? 

A home purchase is a significant investment and usually the largest one that an individual or family will make in their lifetime.  Buyers need to have that investment protected and the presence of a qualified attorney can help to insure that this happens.  During the closing process complicated forms need to be explained to the consumer and a "closing company" that is simply providing a notary or a witness of document signing does not provide any actual legal guidance.  

This recent ruling applies to refinancing as well as residential home purchases and confirms the importance of having a qualified attorney oversee the entire process.

Copyright 2011 "Massachusetts Real Estate Closings Must Now be Conducted by Attorneys"

This post was written by 

Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230

An Exclusive Buyer Brokerage serving the Greater Metrowest area

MLS Property Search With No Registration Required 

Architectural Styles for Massachusetts Home Buyers 

If you have been looking for a home in Massachusetts you may have noticed a number of different styles that appear on landscape.  Some architectural styles are more popular than others but, to be sure, there is something available for a range of tastes.  

Here are some of the more popular home styles you will find in Massachusetts:  

Cape - The Cape Cod is one of America's oldest house styles.  It was a popular style through the 1840s and later experienced a revival when mass production techniques allowed builders to fill developments with capes after World War II.  The cape is usually symmetrical in design. The roof is a steep gable type covered with shingles. Originally, capes were small in scale.   Now, there are many large capes with additional wings and dormers to increase their useable space.    

Colonial - The colonial is the most popular architectural style in the United States.  It was developed in the 18th century which is considered the Colonial period.  The original colonials were symmetrical with four equal sized rooms on the first floor and four rooms above.  The basic colonial still has two windows on either side of a central doorway and five windows across the second floor.  The floor plan for the standard colonial is a central hall with stairs, a living room to the left that is two rooms deep and a dining room on the opposite side with the kitchen behind it.  All bedrooms are located upstairs.

Gambrel - The gambrel has a ridged roof with two slopes on each side, the lower slope having the steeper pitch.  The shape of the structure allows for a maximum of attic storage while still providing a weather tight roof.  Because of the efficiency of storage the gambrel roof is often found on agricultural buildings as well as residential. The gambrel is thought to be attributable to the Dutch since Dutch colonials have a similar roof style.    

Garrison Colonial - It is widely-thought that the garrison colonial's style was influenced by colonial block houses that were used for protection against unfriendly Indians.  The overhang section was there to provide a good vantage point from which to safeguard the house from intruders.  Other historians dispute this and say that the style was taken from the popular Elizabethan townhouses of the period that were being built in the overcrowded cities of England.  This was due to the fact that the overhang area created additional living space on the upper floors.  

Saltbox - In 17th Century New England, adding a single-story lean-to shed to the back of a house was a clever way of increasing space.  By the 18th Century, the lean-to was being built into the original construction.  The hallmark of a Saltbox is the sharply sloping gable roof that resembles boxes which were used for storing salt in old country stores.  The front of the house is a two-story structure while the back slopes down until it becomes one story.     

Tudor - The most distinctive feature of the Tudor house is called half-timbering.  In this type of construction the actual framework of the house is left exposed and the space between the timbers is filled with brickwork or white stucco.  This presents the appearance of what has sometimes been referred to as a "black and white house."  Modern Tudor houses are often created using decorative woodwork that is, actually, false half-timbering.  Other characteristics of the Tudor style are diamond-pane windows, steeply pitched roofs, Tudor arches and bay windows.

Ranch - The first ranch home was designed by Cliff May and was built in San Diego, California in 1932.  The ranch style embraces the ability to move freely about, all on one level, without steps and into private patios and back yards. Today, many one-story homes are referred to as ranches.     

Split Level - The split level home originated in the 1950s and 1960s with the purpose of having a separation of the formal, informal and sleeping areas of the house.  The basic split level has the main living on the second level.  This is where the living room, dining room and kitchen are.  The bedrooms are located in a separate wing on the same level.  It is standard to have the lower level function as a family room as well as additional recreation and storage areas. 

Of course, these aren't the only homes found in Massachusetts.  There are also Victorians, Queen Annes, Dutch Colonials as well as Contemporaries.

Whatever your taste may be, I am sure that you will find the perfect style to call home.

Copyright 2011 "Architectural Styles for Massachusetts Home Buyers"

Source Material from Buying a Home by Claudette Millette 2004

This post was written by 

Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230

An Exclusive Buyer Brokerage serving the Greater Metrowest area

MLS Property Search With No Registration Required 

Homebuyers these days have some useful tools at their disposal to help them determine which homes they may or may not be interested in viewing. 

With Google Maps, for example, you can visibly detect some important nuances of a neighborhood that could possibly spell noise trouble. 

Among the most blatant of these is the ominous appearance of railroad tracks. While the convenience of living near the train is a consideration, it needs to be measured against the effect it could have when roaring by your back yard in the middle of the night.

Another important red flag, particularly here in the Metrowest area, is the proximity of busy highways to some otherwise appealing subdivisions.  Look closely at a map and you will see a number of instances in Hopkinton, Southborough and even a small portion of Ashland where some very attractive neighborhoods are bumping right up to major freeways. 

The term "Commuters' Dream" can turn into a homeowner's nightmare rather quickly. And in a down market, these types of properties are not an easy sell. 

If your plans are to move into the Bedford area near Route 128, you need to take special note of the jets flying overhead at Handscom Field. You may want to avoid being in their direct flight path.

Of course, some noise levels are relative to exactly where the person is coming from. I have had clients who are moving from New York City who think that highway, train and other transportation noises are non-issues since it they are only periodic rather than the constant levels they have endured. 

When you settle into a suburban lifestyle you begin to hear other sounds that to some may be considered noise, but to many of us they are equal to lullabies. While the chirping of birds is melodic and comforting, the thrashing of a woodpecker or the hooting of an owl can definitely keep you up at night.  

Then there is my least favorite suburban noise, the perpetually barking dog.  So very useful are these canines in guarding a home - but at least with an ADT alarm you can shut it down when it goes off. 

In the more bucolic areas you hear the croaking of the toads; but not so much of that in the greater Metrowest where we have a pleasant mixture of slight road traffic, the sound of children playing and a constant symphony of nature's tones.

Before you settle on a particular neighborhood check the maps, the proximity to local transportation routes and do a thorough drive through of the area.

And, keep in mind - what is music to one set of ears may actually be noise to another. 

Copyright 2011 "Nice Neighborhood - If Your Don't Mind the Noise"

This post was written by 

Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230

An Exclusive Buyer Brokerage serving the Greater Metrowest area

MLS Property Search With No Registration Required 

A foreclosed property in the historic district of Tifton, Georgia has been sitting around vacant for far too long.  As a result, an estimated 10,000 to 20,000 Mexican free-tailed bats have made it their home.  Via the Tifton Gazette. 

Local code enforcement has posted a sign on the door declaring it unfit for human habitation and city officials are scrambling to come to a solution to the problem. The cost to eradicate 20,000 bats from and to then scrub it clean from what they have left behind will, more than likely, be enormous.  

An animal removal service in the area described the situation as a "cocktail of pathogens" and said that anyone going in the home will need to have special equipment to cover their clothes and skin. I feel for the home inspector who ends up with this particular assignment. 

Neighbors have been complaining as well. Not only will the infested foreclosed home bring down property values but the smell permeating the air is tough for everyone in the immediate area to live with. 

This unique home is listed with a local real estate company and they actually have an interested buyer.  I can only imagine the creative wording in the MLS listing description: 

"Charming and spacious historic home.  Pets included." 

Anyone interested in taking a look at the property should get in touch with Norris Bishop Realty in Moultrie, Georgia.  

Or, stay tuned for more information. 

Same bat time - same bat channel.

Copyright 2011 "A Foreclosure in the Neighorhood Can Drive You Batty"

This post was written by 

Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230

An Exclusive Buyer Brokerage serving the Greater Metrowest area

MLS Property Search With No Registration Required 

What Types of Homes are Selling Right Now?  Perfect Ones! 

For those who believe everything they hear in the media and think that the housing market is at a complete standstill, I have some news.  There are many homes that are selling, and selling quickly.  They simply fit into one of two categories. 

They are: 

• Well-presented, or
• Very well-priced. 

Or, preferably - both. 

Some of my buyer clients have recently run into extremely competitive situations resulting in multiple offer scenarios.  I have found myself resorting back to techniques that were used during the boom periods to have their offers brought to the top of the pile.  These include writing letters defining their current and past employment situations, and descriptions of exactly - what nice families they are.  

What is causing this type of competition in a down market? 

These are basically sellers who have smart Realtors® and they are taking their advice.  Before the home is put in the market, the agent goes through the property and points out areas that need improvement. As a result: 

1. Interiors are getting a fresh coat of paint.
2. The home is immaculately cleaned.
3. Any deferred maintenance is immediately taken care of.
4. Repairs are being made.
5. Out-of-date décor such as flowered wallpaper is being removed.
6. New kitchen counters are being installed.
7. The exterior is repainted, if necessary. 

But most importantly, the home is priced correctly.  

Perfect homes, of course are not the only houses that are selling.  Foreclosures, estate sales and properties that need freshening but do not have the resources to do so are also sometimes generating multiple offers.  The key is - they must be priced to sell. 

The message here is that, even in this difficult market, there are houses that are coming on and selling  the first day they are listed.  The secret - and this should not be much of a secret - is: 

Listen to your Realtor®!

 Copyright 2011 "What Types of Homes are Selling Right Now?  Perfect Ones!"

Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230

Find the Right Buyer Broker in MetroWest Massachusetts

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Last week I encountered a unique and surprising series of events when I went to retrieve a radon test. 

The home inspector had strategically placed the test in a basement closet on the top shelf.  That was bad enough since the shelf height was around 6 feet high and I am but a mere 5 foot 4 inches tall.  Adding insult to injury was the fact that the basement area was treacherously dark.  

Approaching the closet, I carefully reached for the test and, faster than a speeding bullet, one of the canisters came crashing down, smashing on the floor and completely falling apart. I then witnessed something that I have never had a desire to see - the inside contents of a radon canister - specifically, piles of black charcoal that were spilled in every direction. 

With fast thinking and brilliant reactionary skills, I quickly scooped up the black concoction stuffing it with my bare hands tidily back into the can.  Hoping against hope, I thought, "Surely this does not mean that the test is ruined!" 

Delicately placing the lid back on the canister, I then sealed it with the handy yellow tape that was provided, tightly compressed it and stuck it in the convenient mailer.  Unfortunately, at least half of the charcoal substance still remained on the floor in a pile with bits ground into the carpet of this previously immaculate home. 

Much to my chagrin, when I called the radon lab and explained my predicament to them they informed me that - yes, the test was completely ruined. 

What to do? How would I explain to my client that her test was now destroyed? 

Enter, The Radon Man.  The Radon Man has a machine that continuously monitors the level of radon in the air.  He claims that it is a much more definitive measurement than the once beloved charcoal canisters. 

I will be meeting with The Radon Man tomorrow at which time he will install the machine for two days.  At the end of the two day period, I am promised results right on the spot.  No waiting! 

If this experiment is a success, I will more-than-likely be switching to his services permanently.  And, I will do this for a very important reason.

The spectacle of black charcoal piles scattered all over a perfectly clean carpet is something I never wish to behold again! 

 Copyright 2011 "The Mysterious Case of the Slippery Radon Canister"

Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230

Find the Right Buyer Broker in MetroWest Massachusetts

MLS Property Search With No Registration Required 

When asked this question, most buyers will single out the kitchen as the most important room to them.  Its size has nearly doubled over the last twenty years and so, it seems, has its relevance in a home sale.

Regardless of how much time is spent decorating a living room, family room or any other part of the house, the kitchen is usually where the center of action is. Whether people gather together for meals or wander in at different times, this is the place where they like to congregate.

Really - the kitchen is the heart of any home.

Originally intended as a place designated only for cooking, the kitchen has  become so much more.  Whether it is for entertaining or every day life this is the place where the crowd gravitates to and definitely hangs out in.

An eat-in area has become a must for most kitchens since few people actually want to dine in a formal dining room now, except for special occassions. Additionally, a center island provides a place where people can pull up a stool and grab a casual meal.  An island can also offer extra storage for pots, pans and cooking utensils.

Most of us feel that it is impossible to have too much counter space or an over abundance of storage these days.  Pantries with slide-out shelves and easy access have grown in popularity. And builders have responded to this need by providing more utilization of every space.

Over the last twenty years, the kitchen has become more open and usually flows naturally into the family room or other casual areas.  It is also perfection to have it lead into an adjacent deck or patio for outside meals or entertainment.

Today's kitchen may be adorned with granite counters, stainless steel appliances and glossy floors - but it still serves the same function as Grandma's did.  And that is to be the most welcoming spot in the entire home.

 Copyright 2011 "What is the Most Important Room in a Home?"

Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230

Find the Right Buyer Broker in MetroWest Massachusetts

MLS Property Search With No Registration Required