If you are a First Time Home Buyer who closes between April 9th, 2008 and July 1st, 2009, you may be eligible.  First time home buyer is defined as someone who has not owned a home in the past 3 years.

The amount you can claim is the smaller of 10% of the purchase price or $7500.

This tax credit should be viewed by the consumer as an interest free loan, because unfortunately, (more…)

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Ok, so it’s not a very prestigious award, but you made the list!

When it comes to nightlife, Ashland offers little more than cricket symphonies. What it does provide in abundance are small houses and fully loaded townhouses, priced in the $300,000s, that you can swing on a single income. There’s also the promise of future gains: Metrowest has been home to a sales-appreciation gravy train in the past decade, and this town sits at the next stop.

The article also provided some stats.
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A client looking for a home in the area turned me on to another school website that you may find interesting.

www.SchoolDigger.com

Prior to using this site, my wife turned to www.SchoolMatters.com.  She passed it along to our real estate clients as a good resource.  It was attractive for the clear and concise information laid out to the reader. 

The data from the state website is more thorough and up to date, but it is a jumble of data.

Massachusetts Department of Education

and the Individual school district’s No Child Left Behind Report Card data:

Holliston’s NCLB Report Card

As a Realtor, I am always asked about whether a town has a “good” school system.  The answer is

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The purpose of the bylaw may be reasonable on its face, but it wouldn’t make as much sense if it was affecting you directly.  The basics on this new law is:

1.  
   1. Landlords must register their multi-family home with city hall.  $50 per unit cost.
   2. A fee is required for each unit, and it is measured and inspected by the city.  $15 per unit annually.
   3. Penalties could be $300 per day if you fail to comply.

The stated purpose of the bylaw is to help in the increased issues with overcrowded rental units and unsanitary conditions.  Noble idea, but there are already laws regarding this! (more…)

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Not good news, especially for the 6,707 homeowners who had foreclosure deeds recorded on their homes.

The recording of a foreclosure deed is the final step of a foreclosure process.  In the lengthy process that the banks go thru in order to foreclose, looking at the different foreclosure filings is a great indicator as to how the MA market is doing.

The first step in the foreclosure process is called “petition to foreclose”.   These numbers are a bit confusing.   In June of 2007 there were 2,308 petitions filed, and in 2008 there were only 350.  This is a huge drop.  Perhaps a more accurate number may be the year-to-date petitions which increased to 13,076 from 12,899 in 2007, which is a 1.4% increase.

The explanation by The Warren Group is that a recent law passed postpones foreclosure petitions.  Ah-ha, that explains it!

 So back to that first number, with 6,707 foreclosure deeds recorded in the first half of this year.   You have to compare it to the market as a whole to put it in perspective. (at least I do) 

 The Massachusetts housing market has experienced 40-50,000 single family home sales for the past 10 years.  The condo market accounts for about another 20,000 sales per year. 

Doubling our current pace brings us to a bit over 13,000 foreclosure deeds.  That would be 22% of the yearly market.  Sounds like a big number!  I will keep you posted on how this changes and if this recording of foreclosure deeds turns out to not make it to a final foreclosure in the end.

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 Please check back often to see the new articles.

 If Doriane or I, and the MAhome Team of Re/max Executive Realty can help you sift thru the real estate market of Metrowest Boston, please call us.  We can be reached at 508-341-7880 or Ed@MAhome.com.

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 Here are a few:

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The May stats fell by 3%.  The May building permits also declined, and this number is widely looked upon as a leading indicator of future activity.

Here’s the explanation of my optimism: 

Less supply = More demand = Home Prices Increase. 

That was easy, now we just have to see it in action!

The President of the National Association of Home Builders (NAHB) suggested that home builders are “doing the right thing.” A decline in the production of new homes will lower the supply of available homes, which is a key step in stabilizing the housing market. The NAHB also pushed for Congress to pass a housing stimulus package to boost demand.

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If you would like to research refinancing or getting a pre-approval, feel free to give me a call.   I have worked with several mortgage brokers and lenders who would look at your financial picture for no charge or obligation.  Service is an important factor in this area, and shopping for that last bit of the lowest interest rate may not be worth the headache.  I can get you started in the right direction.

 I also came across this graph of the Number of Home Sales in MA since 1991.

If the MAhome Team can answer any of your real estate related questions, give Ed or Doriane Daniels a call at 508-341-7880.

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 Take a look at this market report graph on Median Price:

Since January, the 90-day trend line has (more…)

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