Merry Christmas

 

Which Seller Incentives do you think Tempts the Buyers today?

More and more sellers are still trying to get the buyers attention and are offering all types of  incentives. They are offering everything from closing-cost assistance to remodeling credits . They are even offering hot tubs, home theater systems, flat-screen TVs, and cars, and more. Boy wouldn't I love to be a buyer in today's market. How about you? 

The incentives don’t actually put the deal together, but it makes the deal more enticing. Can you believe a seller who offered his 1970s Cadillac El Dorado in a real estate deal just to get the deal done. They will do what they have to in order to get the buyers and the agents to come view their home.

A seller may be convinced that the extra incentives bring the bueyrs into their home for a showing, and wonder, is it worth it?

Some of the top incentives are; 

• Sellers are offering gift cards to a home improvement stores or even a local flooring company if the property that is being sold is in need of repair; 
• Closing cost contributions; This is a biggie that buyers love;
• Home warranties, which will cover HVAC systems and other major appliances. This is great if it is an older home. This warranty is generally for one year and sometimes longer; 
• They will even pay some condo fees, which is a big plus for the buyers pocket book; Sometimes they will pay, 3 months, 6 months, 12 months or more;
• One of the biggest incentives is; offering the buyers agent a bonus on top of what their fee is, plus the bonus; Sometimes they will offer up to $3,000.00;  This entices the agent to show their buyers this particular property. 
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• Looking for the right agent to get your home sold in today's market? Contact MaryAnn Dempsey and let's put an incentive plan together and get your home sold.  508.952.0172  mdempsey@kw.com
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Banker & Tradesman

Banker & Tradesman

Banker & Tradesman

Banker & Tradesman

Home Owner Sues for Being Denied Loan Mod

Home Owner Sues for Being Denied Loan Mod

Shadow Inventory Falls, Expected to Continue

Shadow Inventory Falls, Expected to Continue

Banker & Tradesman

Banker & Tradesman

Michael Gerber: The Four Mind-Sets of an Entrepreneur: Innovators Forum ...

Wells Fargo to Accept FHA Mortgages with Credit Scores Under 600

Wells Fargo to Accept FHA Mortgages with Credit Scores Under 600 
http://www.realtor.org/fedistrk.nsf/pages/wk01242011?OpenDocument#report_3_01_24_2011

4 Tips to Determine How Much Mortgage You Can Afford

http://members.houselogic.com/articles/4-tips-determine-how-much-mortgage-you-can-afford/preview/

4 Tips to Determine How Much Mortgage You Can Afford

HOME PRICES ARE TRENDING BACK UP?

Don't you see that every major price index points to a housing market that has most likely hit bottom and is probably moving in a positive direction. After 30 months of values declining, the homes prices appear to be somewhat stable or at least appreciating in nearly every U.S. Market. In August of 2010, the median home price was about $182,600., amounting to an 11 percent increase over the low that was reached in February 2010 at about $164,000. If you are still on the fence and waiting for prices to drop further, it is almost OVER. For more reasons why now is a prime time to buy a home, contact me and I'll send you a free e-book.

Qualify to buy before you sell | Inman News

Qualify to buy before you sell | Inman News

SELLERS ARE MOTIVATED

When supply exceeds demand, buyers as we know, have the upper hand, and that is where we are in todays market. For the buyer, this means they have a lot of choices, lots of negotiating power and that the smart sellers are fiercely competing for the buyers business, both in terms of price and condition of their home. What can this mean for you as a prospective buyer? For more reasons why now is a prime time to buy a home, contact me and I will send you a free e-book.

5 Reasons to Buy a Home in 2011

Reasons why real estate may likely improve in 2011

Here are five reasons why consumers should consider a home purchase next year:

▪  Mortgage rates will probably stay low: Even with rates climbing — possibly as high as 6% by 2012 — they are still well below where they have been historically.


▪   Tax cuts: Extending the tax cuts could possibly encourage a more rapid recovery for our  economy.


▪   Every American wants to be a home owner: A recent Fannie Mae survey showed that Americans still believe a home is a safe and desirable investment.


▪   Builders will probably start building again: Builders have been sitting on the sidelines. This year, the builders think pent-up demand may create an appetite for new homes.


▪   Homes are shrinking: Homes are getting smaller, which can make them more affordable.

OWNERSHIP COSTS ARE DROPPING BELOW RENTAL COSTS!

The recent downturn in the housing market resulted in a drop in rental rates, BUT, rents are back on the rise while the cost of the home ownership has dropped. As apartment rentals have slightly decreased, the decline has been very moderate in comparison to the home values, which have declined nationwide, by 30 to 40 percent since the peak of the housing boom. There are many more reasons why NOW is the prime time to buy a home. Contact me and I'll send you a free book.www.maryanndempsey.net

Volunteers work to make wishes come true for kids in need - Norton, MA - Norton Mirror

Volunteers work to make wishes come true for kids in need - Norton, MA - Norton Mirror

5 Possible Interesting Predictions for 2011 Housing market

What do you think about these 5 Predictions for 2011? 

I just read an interesting article that states; Freddie Mac analysts point to five features that they believe may likely characterize the 2011 housing and mortgage markets:

1) Low mortgage rates. While the Fed observers expecting the central bank to keep the federal funds rate at its current target range of 0 percent to 0.25 percent for most (or possibly all) of 2011, relatively low mortgage rates just could be a feature of the 2011 mortgage market. Thirty-year (30) fixed-rate loans are possibly likely to remain below 5 percent throughout the year, and initial rates of 5/1 hybrid adjustable-rate mortgages may possibly remain below 4 percent in 2011.

2. Prices have hit bottom. Home prices may possibly begin a gradual, but sustained recovery in the second half of 2011. 

3. Homes will remain affordable. With affordability high, first-time buyers will be attracted to the home market in the New Year, likely translating into more home sales in 2011 than in 2010.

4. Refinances will probably dwindle. Many eligible borrowers will probably have already refinanced and the federal Making Home Affordable refinance program is expiring on June 30. While fixed-rate loans are likely to remain low, they may move up gradually, making it even less likely that refinances will be attractive to most home owners.

5. Delinquency rates will decline. Based on the last several business cycles, the share of loans that are 90 or more days delinquent or in foreclosure proceedings — known as the "seriously delinquent rate" — generally crests within a year of the start of the recovery in payroll employment, and this economic recovery appears to fit within that pattern. Payrolls began to rise last January, and by the spring the seriously delinquent rate had begun to fall.

Why you should buy a home now and not wait

Are you are looking to buy a home this year or maybe next year, whether you do it now or later this year or next, you will get a great deal with homes prices so low and interest rates low! This has never been seen before in the real estate market . There are plenty of homes to choose from. If you see a house you like, don't wait, make an offer! History says that homes do appreciate over time.  Even if they didn't, you would still need a place to call home and not to mention that you can write off the interest paid every year on your mortgage. Now that is another reason to consider buying a home now. You will be glad you did.

Buying a home can be a stressful time, but don't let that scare you, as that is why you would have me as your buyers agent. It's always a great time to buy the home that you love.  Please call me if I can help you buy that dream home!

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If you are looking to buy a home this year, you've made a great choice! Interest rates are at an all time low. If you qualify now, why not buy now?  Did you know that this is a rare time in our lives that home ownership in many cases, is less than rent!!!  And don't forget about the nice tax deduction of all the interest paid yearly. 

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Here are 7 reasons why now is the time to buy a home;

1. Homes have never been more affordable;
2. Mortgage rates are at rock bottom and won’t stay here forever;
3. Prices are trending back up;
4. Sellers are motivated;
5. Lenders are back in the game!!!;
6. Ownership costs are dropping below rental costs!!!!;
7. Home ownership remains at the core of the American Dream and always will!!!

Your Local Realtor;  MaryAnn Dempsey, C.D.P.E.

mdempsey@kw.com

(508) 952-0172    (Cell)

(888) 284-2991    (Fax)

www.maryanndempsey.net

WHAT IS A SHORT SALE?

Question: What is a short sale?

Simply put, a Short Sale is used to describe the sale of a home in which the homeowner owes the bank more than the home is worth. The bank agrees to allow the home to be sold for less than what is owed (AKA “Short Sale”). Basically, the bank is agreeing to take less money for what is owed on the loan.

Question: Would I qualify for a Short Sale?

Yes. Contrary to popular belief, it is not difficult to qualify for a Short Sale. A good Short Sale candidate has no equity in their home. They are not able to sell their home and pay off all of the outstanding loans/debt that are secured against their property. If you owe more against your home than it is currently worth and want or need to sell it but can’t or won’t bring cash to closing to make up the difference between what you owe and what your home is worth, then you are a prime candidate.

Question: Is doing a Short Sale right for me?

We would like to say: “Yes!” But the truth is, short selling their home isn’t the right move for everybody. Here are a couple of important signs that can help you determine if doing a short sale is right for you:

• You are behind on your mortgage payment and are unable to keep up with all of your monthly obligations. Some of the reasons for falling behind on your mortgage payment may include sudden change in monthly household income, loss of job, divorce, and more.
• You are NOT behind on your monthly mortgage payment but know that you will soon be unable to keep up with all of your monthly obligations and therefore in the near future will not be able to afford to keep your home.
• You are NOT behind on your monthly mortgage payment but need or want to move. Reasons could include a job transfer, a health reason, retirement, and more.
• You are NOT behind on your monthly mortgage payment and have come to the decision that staying in your home is not a good “business decision” or “financial decision.”

If you match any of these scenarios then doing a short sale could be the perfect solution.

Question: Why would the bank agree to a short sale?

With foreclosures on the rise banks are looking for any way they can to decrease the amount of loss due to these foreclosures. Basically, it is much more cost effective for a bank to do a short sale rather than a foreclosure.

Banks are in the business of owning real estate and collecting monthly mortgage payments, so a bank will take a minor loss in a short sale to start that payment cycle again. The truth of the matter is that a bank can minimize their loss by 10%, 20% even 30% in a short sale over a foreclosure.