selling a massachusetts home: How Realtors Know What My Massachusetts Home Is Really Worth?
- 09/24/14 01:33 AM
What is a CMA? A Comparative Market Analysis, or CMA, is the most accurate method available to Massachusetts homesellers to determine their home’s value in order to select a home sale price. It doesn't matter what you paid for the house or what you "need" to walk away with. All that matters is that the buying public has deemed its worth based on the most recent sales of comparable homes. Of course, "comparable homes" is a loaded term since there is no EXACT home like yours. We must evaluate all the homes that are most similar and possibly add/subtract … (0 comments)
selling a massachusetts home: Disclosures Are Key, Even When A Seller Has Crabs
- 10/21/13 03:14 AM
Disclosures are key--even when a seller has crabs... Communication between a seller and their listing agent is so important in facilitating a relatively quick and stress-free sale at the highest price. A seller is expected by law to disclose anything they know or have updated regarding their property. Of course a seller may not know the installation date of the floor that the previous owner had done but during the course of their ownership they may know pertinent facts about their property. Over a decade ago when I was a newbie agent, I had met with a prospective … (0 comments)
selling a massachusetts home: Required Contracts When Selling in Massachusetts
- 08/09/11 09:17 AM
When it comes to selling in Massachusetts, there are two contracts that both buyers and sellers need to be familiar with. They are the "Offer to Purchase" and the "Purchase & Sale Agreement". Massachusetts is a two-step state with the "Offer" as the first binding contract between buyer and seller followed by the "Purchase & Sale" approximately 10 days later after all inspections are completed by the buyer. This 2nd document actually supercedes the first--legally the Purchase & Sale will be the only document used once it is fully signed.
Offer to PurchaseBy law, real estate agents are required to present all … (0 comments)
selling a massachusetts home: Seven Steps to the Best Deal When Selling Your Franklin MA Home
- 04/12/10 04:58 AM
Knowing and using these 7 essential, yet simple steps is crucial to achieving the best deal possible - whether you decide to sell your Massachusetts home yourself or hire a professional real estate agent to help you. Understanding the "Total Market" concept of positioning your home to attract the greatest number of buyers. Using the "Total Market" concept to accurately appraise the value of your home. (The standard CMA is simply not enough!) Pricing Your Home to Appear lower than market value, yet actually asking for more than market value (This one crucial step will get buyers and agents flocking to … (0 comments)
selling a massachusetts home: How Not To Show Your Franklin MA Home or Things I've Seen That I'd Rather Not
- 04/09/10 03:05 AM
As a local Franklin, Massachusetts area Realtor for the past 15 years, when working as a buyer agent I have certainly seen alot of homes. I am happy to report that in most cases the homes were staged nicely, were clean and appropriate for getting the home sold. On the other hand, I have definitely had my share of surprises during showings with my buyer clients. Once we walked in on a woman as she was stepping out of the shower--she calmly stated she thought she had enough time for a quick shower even though she knew we were arriving! Another … (7 comments)
selling a massachusetts home: How To Sell Then Buy in Massachusetts & Still Obtain Your Dream Home
- 12/09/09 02:50 AM
What is a Massachusetts seller to do? I know some sellers that find one then another "perfect" home online but have not put their current home on the market yet. One couple has had their hopes dashed far too many times because no seller will accept their offer knowing they have not even put their home up for sale yet! Years ago, before the banking crisis, sellers would utilize bridge loans to make the jump from one home to another but that was then. Now no one would expect a seller to take out a bridge loan. There is an easier solution … (2 comments)
selling a massachusetts home: The Low Ball Offer
- 12/08/09 03:48 AM
In today's real estate market which still favors buyers more than sellers, it is inevitable that a seller will receive an offer on their home that is lower than they would like. It is important, however, for a seller to focus on their goal of moving on and consider a counteroffer rather than dismiss the buyers entirely since this could be the beginning of a dialogue and ultimate sale. Buyers should be doing their homework in researching some homes as best as they can, then driving by the shortened list of properties. A buyer agent can assist in educating the buyer about the neighborhoods, home … (6 comments)
selling a massachusetts home: Selling in Massachusetts--A Realtor's Personal View
- 12/04/09 05:39 AM
Should Massachusetts Realtors be required to sell a personal residence before they can practice real estate? Obviously this is not practical but there are other options that could be required before an agent obtains their real estate license. I have been a practicing Massachusetts Realtor for almost 15 years but I had never personally sold our own home. Recently, (see prior blog post "The Other Side of The Real Estate Fence") we hired an agent to list our small Cape Cod vacation home and the process has moved along very smoothly. This selling process has made me realize that Realtors should … (2 comments)
selling a massachusetts home: The Significance of The Town's Property Records When Selling Your Home
- 12/01/09 03:15 AM
Many homeowners are aware that they can easily look up the town's property information for their particular home to check on the accuracy of the data but some do not realize how available it is. Some towns refer to this information as "field cards" or "property records" but a call or visit to the town Assessor's office will provide all that you could want to know about how your property is described and taxed. Some towns as well as the Registry of Deeds offers this free information online. When it comes time to sell, we want to make sure our home is … (5 comments)
selling a massachusetts home: More Accurate Franklin Massachusetts Appraisals Benefit Buyer & Seller
- 11/14/09 07:22 AM
Finally it seems that appraisals will be more accurate in reflecting the true market value of homes. It used to be that appraisers were easily swayed by the pressures placed upon them from some Realtors, the bank or other insiders. A recent lender bulletin from Freddie Mac says appraisers "must be familiar with the local market," select "appropriate comparable sales," and certify them as "most similar" to the property in question. An appraiser can only include distressed properties in their comparables if those homes represent the majority of properties in that area. This is a huge benefit to both buyers and sellers. … (2 comments)
selling a massachusetts home: Disclosures Are Key--Even When A Seller Has Crabs
- 11/05/09 11:57 PM
Communication between a seller and their listing agent is so important in facilitating a relatively quick and stress-free sale at the highest price. A seller is expected by law to disclose anything they know or have updated regarding their property. Of course a seller may not know the installation date of the floor that the previous owner had done but during the course of their ownership they may know pertinent facts about their property. Over a decade ago when I was a newbie agent, I had met with a prospective seller, walked through the property and was sitting at the kitchen … (11 comments)
selling a massachusetts home: Waiting For The Franklin MA Real Estate Market to Change
- 11/04/09 07:41 AM
When a seller tells a Realtor that they are waiting to sell their home until the market changes what they have difficulty realizing is that those prices will rise for all homes in that area. The couple who have no mortgage and want to wait a 3-5 years for a market correction will potentially get more for their home sale but they will also pay more for the home they will need to purchase. Eric Berman, of the Massachusetts Association of Realtors, reminds us that if a buyer is prepared then the time is fantastic to purchase a home this fall. Obtaining … (0 comments)
selling a massachusetts home: What Does It Cost Me to Sell My MA Home?
- 10/28/09 11:37 PM
What exactly are the expenses involved in selling a Massachusetts home? There are not many seller expenses but a few are typical. Some sellers are content to pay for legal representation only for the Purchase & Sale review--opting to attend the closing alone--without their attorney. The following is a Seller Net Proceeds Worksheet to follow as a general guide. Each town may vary on their small fees for water readings, smoke certificates, etc. but this gives a prospective seller a framework as they begin to calculate their likely costs and proceeds. Sales price ___________________ Brokerage fee ____% of selling price ___often 5%________ Outstanding … (0 comments)
Real estate rants and advice on the Franklin, Massachusetts and the metro west of Boston area. Stop by often because you never know what resources or tidbits you might find!
What is a CMA? A Comparative Market Analysis, or CMA, is the most accurate method available to Massachusetts homesellers to determine their home’s value in order to select a home sale price.
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