Crystal Ball on Holliston Real Estate
May 15th, 2008
The market in Holliston is showing signs of life. OK, not out of the woods yet, but there are certainly some indications that the slide has ended.
Take a look at this market report graph on Median Price:
Since January, the 90-day trend line has jumped up… stay tuned.
Combine that with a dip in Days on Market data since January:
I have a full analysis of several area towns, and would be happy to share this with you. Just contact me to learn about the particular town or towns, and I will send it over to you.
I am a numbers junkie, so if you are too, I can help with your addiction.
Categories: Holliston, Market Conditions
| Discussion: 1 Comment »
Holliston Discusses School Budget Shortfalls
March 22nd, 2008
Holliston School Committee member and my neighbor, Erica Plunkett, keeps us up to date with the status of the Fiscal Year 2009 Budget Process. Here is her meeting updates that she sent me thru e-mail blast:
As you may recall, the gap between the Finance Committee’s guideline of -1.72% and the School Committee’s voted budget of 4.69% left a gap of $1.7 million and change. As more information has become available, the Fin Com has informed the School Committee that they have reviewed the revenue projections and they are able to provide an additional 460K.
This brings the Fin Com guideline down to 0.00%, which is wonderful news, but still leaves a gap of $1.252 million.
This gap is a difference between what the Finance Committee says we can afford and what the School Committee believes we need. Two boards, two different perspectives
Here is the article in the Metrowest Daily News on Friday: http://www.metrowestdailynews.com/news/x907489551).
To further discuss this gap, there are two important dates of which to be aware:
This Monday, March 24 at 8:00, the School Committee will be meeting with the Board of Selectmen in Town Hall. This is a public meeting and a chance to weigh in on the situation.
In addition, we have called a special School Committee meeting next Thursday, March 27 at 7:00 (most likely in the High School Library) to further discuss what the scenario might be, should we not be able to close the gap.
Overall, the School Committee’s philosophy is markedly similar to Superintendent Jackson’s, with the exception of fees. In a challenging fiscal year, fees are on the table.
I very much hope you will put these dates on your calendars and make it a point to attend these meetings. As of right now, an override is not on the ballot and the Board of Selectmen must make this decision by April 1.
They need to hear from you. I urge you, whatever your decision, to make it an informed one.
Again, if there are any questions, please don’t hesitiate to call School Committee members or the Superintendent’s Office.
Kindest regards,
Erica Plunkett
Categories: Holliston, Town Hall Info
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Navigating the New MA Auto Insurance
March 11th, 2008
My head is still spinning after reading the “section” in Sunday’s Boston Globe about the upcoming changes to the Massachusetts automobile insurance rates. In case you did not have a few hours to review all your different options, let me give you some quick advice.
Pick up the phone and dial your trusted insurance agent to take good care of you. That was easy, wasn’t it! Will this save you every last nickel? No, but it will be competitive and you will get coverage that your personal situation requires.
Notice how I stated “trusted” insurance agent. If you do not have someone you can turn to when your home is on fire or you have just had a traffic accident, get a referral to another agent. Saving money is one thing, but piece of mind counts for something, doesn’t it?
As a Realtor, I had one occasion to receive a call from a past client while their home was on fire. Upon arrival, this Framingham home was under control, the family was safe, but the industry was descending upon the homeowners quickly. Adjusters, contractors, lawyers, et al. I learned at that moment that I would need to trust somebody in this instance. I would not be in a state of mind to handle big decisions or research the best course of action!
I grew up in Holliston, MA. My local insurance company is Kiley Insurance. Jerry and Mary Kiley are parents of a good friend from high school. Do I think this is a good choice for guidance when my family is in turmoil… yes! I would recommend them to you also.
Personal referrals are the way to go in insurance (and in real estate, by the way). There is always a “cheaper” way to go, but you are shopping value here, not the least expensive!
OK, you still want to compare the different companies? Here is the Mass.gov site that walks you thru some numbers while leaving out your personal coverage requirements, discount programs, etc. Many programs give you discounts for using the same company for both your homeowners insurance and your auto insurance.
One last try… Find a good Insurance Agent that will take care of you!
If you need personal referrals to trusted and local service providers, the MAhome Real Estate Team has put together a great list. Contact us to get access to this info!
Categories: Events in Community, Holliston, Preferred Business
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The Dirt on Senior Housing in Holliston
February 29th, 2008
Senior housing is going to become a larger need, as we all know by now, over the coming years. Each town tends to have its own authority providing a number of units for strictly senior residents.
These units are not “assisted living”, but mostly comprised of small apartments that are easily accessible.
Ken Curley, from Promise Lenders in Holliston, recently requested my help for one of his clients looking into these housing options. His company focuses on Reverse Mortgages, which is a great tool for seniors to stay in their current home while freeing up the equity for medical, living, and household needs.
My findings around Holliston are as follows:
Holliston has a Housing Authority which oversees the small number of senior apartments around town. This complex is known as Cole Court. The Authority reported that there is a 5-10 year waiting list for this complex! Wow.
The town of Holliston also has a federally sponsored complex called Mission Springs. This building, built in 1997, has 75 units for seniors over the age of 62. Applicants must qualify under HUD financial guidelines, which are currently a maximum income level for a 1 person household of $30050. The waiting list also exists here, but they currently only have about a dozen people on it. They can be reached at (508) 893-8021.
Planning entrance to community senior housing is something that the seniors and their children have to plan ahead for. I recommend that you surround yourself with professionals to lay out all the options and who are versed in how to help you achieve your goals.
Call if the MAhome Team can be of service in this area.
We direct you to people like Ken Curley in the Reverse Mortgage arena, as well as attorneys and servicemen to work out the details.
Categories: Holliston
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Foreclosure Real Estate Secrets
February 3rd, 2008
First time buyers of real estate are salivating at the idea that the Buyer’s Market in Massachusetts is offering “steals” in every neighborhood. They hear of foreclosures, auctions, and people unloading property at every turn.
This is not only a falsehood, but when buyers learn of the process, they usually run for the hills.
Let me explain how foreclosures work…
Home owners who do not pay their mortgage over time will have the bank try to take it over or sell it. The process is known as foreclosure, and the first attempt to sell the property is known as the auction.
The auction is advertised in a legal section of your local newspaper. To participate, you would bring a deposit check to the event. The bidder than stands on the curb and raises their hand if they are willing to pay x dollars for the home.
Notice how I did not say anything about looking inside the property, inspection conditions, or financing contingencies… this is because they don’t exist! You buy sight unseen, perhaps someone will still be living there when you end up buying it, and if you don’t show up in 30 days with payment in full, the deposit is retained by the auction house.
Not a great course of events for a rookie home buyer.
A bank representative is usually at the auction also. They are there to “bid” if the bank wants to buy it back rather than allow anyone else to “steal” the property. They will then prepare the home for listing with a local realtor. This is also known as a REO property, referring to the Real Estate Owned department of the bank.
A buyer can now preview the home, conduct an inspection, and negotiate on price, but at this point the bank usually spends a bit of money on the process and still is not going to allow the home to sell for an outrageous price.
There is certainly a lot more REO property in Massachusetts recently, but these properties are not for buyers who do not have financial resources or lack nerves of steel. They usually need at least cosmetic work, but most have quite a few inspection issues. There are companies out there that are in this business full time and they are also going to compete with your bids.
My official recommendation in 2008, stick with the listed properties and do your due diligence on a property you plan on buying. Currently it is a slim margin of benefit that you will receive from buying a foreclosure and not worth it. It may be in the future, just not right now in Metrowest Boston.
Contact me if you have questions or concerns about REO properties or click here to view listings on the MLS.
Categories: Ashland, Framingham, Grafton, Holliston, Hopkinton, Market Conditions, Marlborough, Milford, Natick, Real Estate, Southborough, Westborough
| Discussion: 1 Comment »
4 Crucial Reasons to Buy In this Perfect Market
November 27th, 2007
You have been hearing all sorts of bad news in every newspaper article for the past 2 years. These are the 4 reasons why this is THE perfect time to be a Buyer. You should not delay, even if it means dealing with getting less for your current home!
As a full time Realtor in the Metrowest area for the past 10 years, I have seen mostly “good times”.
But were they?
My buyer clients were buying with multiple offers in the first few days a home was listed. Interest rates were good, but prices were climbing at double digit rates.
Ok, they were good times for Sellers.
Many of my home buying clients paid over asking price and had to convince the appraiser that the place was worth it. Many appraisers used appreciation factors in their assessments and the banks signed off on them.
So now is the “Good Times” for the Buyers! Here is why:
1. Interest Rates: They are falling again and today I was just told by my mortgage brokers that they have dipped to 6%. You can’t find 100% deals easily or have terrible credit, but others should take advantage
Call the MAhome Team if we can connect you to a professional, ethical and competitive local mortgage broker for a free pre-approval.
2. Motivated Sellers: There are the foreclosure and short sales, but overall most of the people selling in this market are doing it because they need to. Job change, growing families, or financial struggles are some of the reasons that they are moving.
You need to have a professional Realtor in your corner to deal with the “distressed” situations, but having a strong negotiator on your side will result in even benefits. Negotiate in your mortgage points or closing costs, have condo fees paid for the year, or have inspection issues corrected are some of these benefits.
3. Choices: Buyers of homes around Metrowest have lots of options. A few years ago buyers would be looking every day at the new to market listings. Today we could take your dream home criteria and have several days of homes worth to tour.
Make sure to visit the MAhome Team MLS search to see a map search. Slide bars to fit your criteria and watch the push-pins pop up all over the Metrowest area that are for sale!
4. The Move Up Premium: It is not an easy environment to Sell a home, but WHEN you are successful, you will get a discounted price on the purchase.
For example, you are selling your home to get a “better” one. It will cost more and have lots more room and be located in the primo neighborhood. You sell your home for 10% less than you could have 2 years ago, it takes 6 months, but you did it! It listed for $390000, but only sold it for $351000.
Now, the move up home is in the $600K price range. You negotiate hard and get a good deal on the perfect place. You estimate it is 10% less than you could have bought it for 2 years ago! Therefore, you get the $660000 home for only $600000.
There it is… “losing” $41K off the sale and “discounting” the purchase by $60K. A buyer who is upgrading their home is doing better than they would 2 years ago!
Take advantage of a professional Realtor who will keep your best interests as the priority, the MAhome Team is that Realtor. If you know of someone thinking of buying or selling a home, who would appreciate the kind of service I offer, we would appreciate your referrals.
Categories: Ashland, Framingham, Grafton, Holliston, Hopkinton, Market Conditions, Marlborough, Milford, Natick, Real Estate, Southborough, Westborough
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