iMaxWebSolutions.comurn:uuid:aa779b6bba707a612828758386afef4b4bac17f8 - Blog2021-02-24T17:35:30-05:00Richard Gordenurn:uuid:591c34b498664ec1abc4da19402d6a6d2338feecReal Estate News & ViewsRichard Gorden2021-02-24T17:35:30-05:002021-02-24T17:35:30-05:00
<p>I am now licensed and ready to help you buy in Rhode Island. The state has great values and opportunities for 1st home/2nd home/investment property, still close to Massachusetts amenities.<img src="blob:https://richiegorden.com/ff1d32f8-b87e-4764-ad32-ded8bcbff53a" alt="" /></p> urn:uuid:cf018119baf1f33fc3a232d1c07536b51c41527bReal Estate News & ViewsRichard Gorden2021-02-05T09:01:57-05:002021-02-05T09:01:57-05:00
<p>Here's a quick summary of the year-over-year sales of SF houses in Sharon, comparing 2019 to 2020.</p>
<p>2020: Houses sold (through MLS) = 444 2019: 402</p>
<p> Average Sales Price: $627,541 $594,894</p>
<p> Average #days-to-offer: 35 38</p>
<p> </p>
<p> </p> urn:uuid:3e7ca95267b72741411ed99fcb7d76e8342ecc73Real Estate News & ViewsRichard Gorden2021-01-28T14:29:29-05:002021-01-28T14:29:29-05:00
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<p><span class="fontSize4" style="font-family: arial, helvetica, sans-serif;">The Real Estate market seemed to take a breather over the holidays, but right back at it now. Quite a boom time for home sellers, but quite a challenging time for home buyers. Low (or no) Inventory + Historically Low Mortgage Rates + Lots of ready Buyers = Over-heating RE Market. Now more than ever before is the time to work with a Realtor with expertise and experience to help navigate through the obstacles and nuances of the real estate process.</span></p> urn:uuid:b4c9326a2d1b997d08587ccb89b57f3c3ced66a5End of 2020 planningRichard Gorden2020-12-29T17:01:35-05:002020-12-29T17:01:35-05:00
<p>As we near the end of a long and challenging 2020, we all hope for a better 2021. One of the last reminders of the long year we have gone through will be the town real estate tax bills due to arrive shortly. You will note the current assessment for your property for FY 2021. If you think it is incorrect, or too high, you have the opportunity to question the assessed value through the abatement application process. Contact the assessors office to request an application, which must be submitted within 30 days of your tax bill. Assessments typically increase to reflect the past years of market value appreciation, and remember that assessed values for FY 2021 are based on actual real estate sales records from calender year 2019.</p> urn:uuid:7da9e5a1b6d96703454e5776cb1866ccd9ab4a32Smoke Detectors save lives!Richard Gorden2020-07-23T21:27:22-04:002020-07-23T21:27:22-04:00
<p>I visit so many homes in which there are inactive or non-existent smoke detectors. Fire department officials have told me that many lives could have been saved if only the house was properly fitted with functional smoke detectors and carbon monoxide detectors.</p>
<p>Your house should have 1 smoke detector/carbon monoxide detector on each level of living space, including your basement. There should be 1 detector for every 1200 sqft of living space. The current regulations call for detectors to be less than 10 years old and sealed units so that the battery cannot be removed. Did you ever remove a battery from a detector because it was setting off from cooking? Bad idea!</p>
<p>It is also a great idea to test your smoke detectors at least twice every year. A good reminder is to self-test the detectors when you change the clocks in the spring and fall season.</p>
<p> </p> urn:uuid:f0773bd4911c64c8c649a5337c451557f0045414The Spring 2020 real estate market is chugging right alongRichard Gorden2020-06-04T15:29:37-04:002020-06-04T15:29:37-04:00
<p>We experienced a quiet month of March in the real estate market, due to the unkowns and uncertainties brought on by the CoronaVirus. During this initial period, many prospective buyers (and sellers) moved to the sidelines to understand the potential effects. As the stock market skid took place, and the economy slowed, the month of March seemed to be the beginning of a real estate downturn.</p>
<p>But, that was short-lived, as the next 2 months of April and May has turned into a typical spring market mini-boom. New inventory is in short supply, mortgage rates are historically low, and with buyers more confidently re-entering the market, many houses are flying off the shelf!</p>
<p>This is indicative of buyer confidence in their employment and economic future, and also reminds us that we can't predict the future. How do you know when is the right time to make a move? Should you wait for the market to improve? The best time to make a move is.....NOW, taking advantage of the current information on market conditions. </p>
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<p> </p> urn:uuid:9828534008096c29e1f660a18d3d74a145bbfdc6The Spring Real Estate Market has arrived!Richard Gorden2018-05-03T15:44:17-04:002018-05-03T15:44:17-04:00
<p>The market is very active as there are numerous buyers looking to buy their 1st home or move into a larger home. Many are trying to lock in a lower mortgage interest rate before those rates rise any higher. Due to historic low inventory of available property, many buyers find themselves competing with each other, thereby increasing pressure on appreciating values.</p>
<p>When is the best time to buy or sell? Now, while mortage rates remain affordable and reasonable!</p>
<p> </p> urn:uuid:ae9ac15fb72e47f1ce67cec2ea8f41e8f09540a5How has the Sharon real estate market performed over the past year? Contact me to learn about any other community.Richard Gorden2015-02-25T15:48:07-05:002015-02-25T15:48:21-05:00
<p><span class="fontSize5">The <strong>Town of Sharon</strong> has seen another year of appreciating home values, although less dramatic than the prior year. The number of real estate transactions has decreased significantly</span> <span class="fontSize5">from calendar year 2013. Based on MLS data for single-family houses, here is a year-to-year comparison of houses sold in Sharon:</span></p>
<p><span style="color: #ff0000;">2013:</span></p>
<p><span style="color: #0000ff;">Houses sold: 247</span></p>
<p><span style="color: #0000ff;">Average days-on-market: 76</span></p>
<p><span style="color: #0000ff;">Average sales price: $521,750</span></p>
<p><span style="color: #0000ff;">Average selling price/list price ratio: 98%</span></p>
<p><span style="color: #ff0000;">2014:</span></p>
<p><span style="color: #0000ff;">Houses sold: 188</span></p>
<p><span style="color: #0000ff;">Average days-on-market: 62</span></p>
<p><span style="color: #0000ff;">Average sales price: $532,817</span></p>
<p><span style="color: #0000ff;">Average selling price/list price ratio: 98.7%</span></p>
<p><span class="fontSize5">This chart indicates a stabilization of average selling price as well as a significant decrease in marketing time.</span></p>
<p><span class="fontSize5">The following market data will give you a look at specific price ranges and market performance for <strong>houses sold in 2014:</strong></span></p>
<p><span style="color: #0000ff;">Under $300k: 10 houses sold</span></p>
<p><span style="color: #0000ff;">$300-400k 44 houses sold</span></p>
<p><span style="color: #0000ff;">$400-500k 39 houses sold</span></p>
<p><span style="color: #0000ff;">$500-600k 33 houses sold</span></p>
<p><span style="color: #0000ff;">$600-700k 32 houses sold</span></p>
<p><span style="color: #0000ff;">$700-800k 19 houses sold</span></p>
<p><span style="color: #0000ff;">$800-900k 6 houses sold </span></p>
<p><span style="color: #0000ff;">$900-1 mil 2 houses sold</span></p>
<p><span style="color: #0000ff;">Over $1mil 3houses sold</span></p>
<p><span class="fontSize5">Almost every price range shows a decrease in # of houses sold in 2014 as compared to calendar year 2013.</span></p>
<p><span class="fontSize5">So, what’s happening so far in 2015? The supply of houses available for sale in Sharon is very limited, as of 2/24/2015 there are only 26 houses listed for sale through MLS database.</span></p>
<p><span style="color: #0000ff;">House inventory:</span></p>
<p><span style="color: #0000ff;">Under $300k 1</span></p>
<p><span style="color: #0000ff;">$300-400k 3</span></p>
<p><span style="color: #0000ff;">$400-500k 3</span></p>
<p><span style="color: #0000ff;">$500-600k 3</span></p>
<p><span style="color: #0000ff;">$600-700k 2</span></p>
<p><span style="color: #0000ff;">$700-800k 3</span></p>
<p><span style="color: #0000ff;">$800-900k 5</span></p>
<p><span style="color: #0000ff;">$900- 1 mil 4</span></p>
<p><span style="color: #0000ff;">Over $1 mil 2</span></p>
<p><span class="fontSize5">This in part due to the harsh weather and historic snowfall and should result in more listings as we approach the spring weather and spring real estate market. The drop in mortgage interest rates has kept prospective buyers active in their search throughout the winter.</span></p>
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<p> </p> urn:uuid:a5a9a28b957c764a47bebc88bd77837386437a5cIs your property assessment accurate and correct?Richard Gorden2015-01-26T11:37:39-05:002015-01-26T11:38:08-05:00
<p> </p>
<p><strong><em>Q. How can I find out if my property assessment is accurate ?</em></strong></p>
<p> </p>
<p>A. Property values are established by the assessors office based on Mass Appraisal methods. This process analyzes properties grouped by similar market influences and characteristics rather than by performing individual appraisals on each property. Due to the large number of properties within a community, it is not financially or logistically possible to have individual appraisals for each property.</p>
<p>Property values are updated through the use of statistics based on annual market data, although current market assessed values are based on sales of properties within the community from the prior calendar year. For example, your current assessment would be based on property sales for calendar year 2013. This results in a lag in data and may not reflect market trends for the current fiscal year.</p>
<p>Your property assessed value is based on features and amenities which are kept on a property record data card in the assessors office. This card will list the features such as style of house, condition, living area, basement finish, grade, and other features based on a property inspection, or building permits, or from historical data. You should check the accuracy of this data by requesting a copy of your property record from your assessors office to make sure that the data is accurate, as this record serves as the basis for your assessment. </p> urn:uuid:7d4b96ad08744d2589e1208dc132a9e745c6ae55Town of Sharon real estate tax updateRichard Gorden2015-01-02T18:24:01-05:002015-01-02T18:24:01-05:00
<p><strong>Sharon</strong><strong> residents will be receiving their tax bills for FY2015 within a few weeks. I thought it would be helpful to learn what to expect and some of the reasons for changes in assessments and taxes. I met with Mark Mazur, the Administrative Assessor for Sharon, to answer some of these questions. </strong></p>
<p><strong>Q. How have assessments changed from last year?</strong></p>
<p><strong>A</strong>. In recognition of changes in the residential real estate market single family assessments were increased approximately 9.2% for FY2015.</p>
<p> </p>
<p>Q. <strong>What is the basis for the change in assessments?</strong></p>
<p><strong>A. </strong>We analyzed sales from calendar year 2013 and found that sales prices have gone up significantly when compared to those of the previous calendar year. There were 233 arms length single family sales in calendar 2013.</p>
<p> </p>
<p>Q. <strong>What is the new tax rate for FY2015 and how does it compare to last year?</strong></p>
<p>A. The fiscal 2015 tax rate is $20.30 compared to last year’s rate of $20.55. That is an decrease of $0.25.</p>
<p> </p>
<p>Q. <strong>Why would the tax rate decrease?</strong></p>
<p>A. The tax rate is calculated by dividing the town’s tax levy (the amount the town votes at Town Meeting to spend for the year) by the total taxable assessed value. This year the tax rate decreased because the tax levy increased by less than the assessments increased.. </p>
<p> </p>
<p>Q. <strong>What is the average single family assessment this year and how does it compare to last year?</strong></p>
<p>A. The average single family assessment is now $473,760 as compared to $433,791 from last year. That is an increase of about 9.2%. Remember that this is an average, some properties went up and some went down and by different percentages too.</p>
<p> </p>
<p><strong>Q. </strong><strong>What is the average single family tax bill for FY2015 and how has it changed from last year?</strong></p>
<p><strong>A. </strong>The average single family tax bill for FY2015 is $9,617.33 compared to last year’s average of $8,914.41. That represents a increase of about 7.9%. Again, remember that this is an average with some properties having more or less of an increase and in some rare cases even a decrease.</p>
<p> </p>
<p>Q. <strong>What will be the total revenues collected for the Town for FY2015 and how does that compare to FY2014?</strong></p>
<p>A. The town sent out tax bills totaling $60,056,129.00 in local property taxes for FY2015. For FY2014 the town sent out tax bills which totaled $56,048,096.71. So, the total tax levy went up this year by $4,008,032.29 or approximately 7.2%.</p>
<p> </p>
<p>Q. <strong>How and when are abatement and exemption applications filed?</strong></p>
<p><strong>A. </strong>Abatements are filed when someone disagrees with the assessed value of their property. Note that for this fiscal year the assessments are our estimates of property value as of 1/1/2014 and are based upon calendar year 2013 sales. Abatements need to be in the Assessor’s Office by 5:00 P. M., on Monday, February 2nd, which is the same day and time that the tax bills are due to be paid. Exemptions are filed by a variety of individual who fit certain guidelines such as disabled veterans, blind people, widows or widowers. Exemption application forms and guidelines as well as abatement application forms are available on line at the Town website, www.townofsharon.net or in the Assessor’s Office. For this fiscal year applications for exemption must be received in the Assessor’s Office by April 1, 2015.</p>
<p>The Assessors Office and Board of Assessors is always available to answer your questions. You can review your property information by logging on to <a href="http://www.townofsharon.org/">www.townofsharon.org</a> and click on online assessment info. Questions and Concerns can be delivered on-line or at the assessors office.</p>
<p> </p> urn:uuid:951b4cbecc396fa62ae511c0ee4a4a880b2f1f28Home burglaries are on the rise in many communities!Richard Gorden2014-07-02T08:26:27-04:002014-07-02T08:26:27-04:00
<p><strong><em>Q. What can be done to reduce the possibility of home burglaries?</em></strong></p>
<p>A. There has been a recent increase of house and vehicle burglaries in the area. Not only should you be aware of the increased risk of this occurrence, but also take steps to reduce the possibility of a burglary at your house or in your neighborhood.</p>
<p>Burglaries can occur at any time, but the majority take place during daylight hours when the house (and an unlocked car in the driveway) is left unoccupied for work or school or even quick errands. Burglars may look for an unoccupied house with easy access through an open window or hidden area around the house, or may watch for vehicles leaving the driveway. Be a good neighbor and keep an eye out for unusual activity in your neighborhood, and report any suspicious activity or vehicles to the police.</p>
<p>The most basic prevention is to be sure to lock doors and windows when you leave your house. If you have an alarm system, use it! Place visible decals on glass doors and windows indicating an alarm system or crime watch system is in place. Use deadbolts and security bars on patio doors, and don’t leave spare keys outside the house. An outdoor light left on while you’re away all day could attract a burglars attention, so install a motion sensor or timer, for both indoor and outdoor lighting.</p>
<p>You should take an inventory of your jewelry and electronics with photos and serial numbers (to be kept in a safe deposit box) and keep valuables out of sight, not on your dresser, but hidden or locked in a safe. When you engrave items for identification, don’t use your social security number.</p>
<p>If you find that your house has been burglarized, call the police immediately from a safe location.</p> urn:uuid:8ef049cb27a45191f44f85ace6c5c46e84e271b8Are you planning to hire a contractor for home improvement projects?Richard Gorden2014-03-19T13:24:40-04:002014-03-19T13:24:36-04:00
<p> </p>
<p><strong><em>Q. When considering home improvements, what should you look for when hiring a contractor?</em></strong><strong></strong></p>
<p>A. Most homeowners will need to hire a contractor for various types of projects. Remodeling projects can improve your lifestyle and living space while adding significant value to your house.</p>
<p>An excellent source of finding a competent and trustworthy contractor is a recommendation from a friend who might have recently had similar work done. You should interview with 2 or 3 contractors to review the project and request an itemized estimate/bid which will give you better control over the process and costs. Itemized bids with a breakdown of materials, labor, permits and fixtures, and scope of work will provide an easier way to compare. It is important to review a payment schedule so that the contractor completes the work to your satisfaction. Ask how change-orders will be handled. This process will also give you some insight regarding the contractor’s communication and organizational skills.</p>
<p>Your contractor should provide references. You can ask to visit a current jobsite as well as recently completed projects. A contractor should provide their place of business (office/home address, not a PO box), and length of time in business along with their local materials suppliers so that you can check on their reputation for creditworthiness. Check with the Better Business Bureau for any complaints on file or google search the contractors for additional information.</p>
<p>Although it is tempting to select a contractor based on the lowest bid, be wary of a lowball bid. Look for an experienced and licensed contractor with proof of current insurance coverage for worker’s compensation and general liability. Depending on the size of the company, ask whether the contractor will be on the jobsite everyday. Whether you are spending hundreds or thousands of dollars on a home improvement project, your diligent selection of the right contractor will go a long way to making your home improvement project more enjoyable and successful.</p>
<p> </p>
<p> </p> urn:uuid:622dd24ee1851458b8594ae3f7aca17c883ca51fHow has the Sharon real estate market performed over the past year? Contact me to learn about any other community.Richard Gorden2014-01-30T22:31:21-05:002014-01-30T22:31:18-05:00
<p>A. The Town of Sharon has seen steady growth in the numbers of real estate transactions and increased values of houses for calendar year 2013 when compared to calendar year 2012.</p>
<p>Based on MLS data for single-family houses, here is a year-to-year comparison of houses sold inSharon:</p>
<p><strong>2012:</strong></p>
<p> <span style="color: #ff0000;">Houses sold: 209</span></p>
<p> Average days-on-market: 112</p>
<p> <span style="color: #0000ff;">Average sales price: $449,000</span></p>
<p> Average selling price/list price ratio: 97%</p>
<p> </p>
<p><strong>2013:</strong></p>
<p><span style="color: #ff0000;">Houses sold: 247</span></p>
<p>Average days-on-market: 76</p>
<p><span style="color: #0000ff;">Average sales price: $521,750</span></p>
<p>Average selling price/list price ratio: 98%</p>
<p> This chart shows a significant increase in average selling price as well as a significant decrease in marketing time.</p>
<p> The following market data will give you a look at specific price ranges and market performance for houses sold in 2013:</p>
<p>Under 300k 21 houses sold </p>
<p>$300- 400k 56 houses sold</p>
<p>$400- 500k 53 houses sold</p>
<p>$500- 600k 40 houses sold</p>
<p>$600- 700k 43 houses sold</p>
<p>$700- 800k 19 houses sold</p>
<p>$800- 900k 7 houses sold</p>
<p>$900 -1mil 0 houses sold</p>
<p>Over $1mil 8 sold </p>
<p>Almost every price range shows an increase in # of houses sold in 2013 as compared to calendar year 2012, with the exception of under $300k. The most significant improvement is found in the mid-range of $400k – 800k.</p>
<p>What’s happening so far in 2014? <span style="color: #ff0000;">The supply of houses available for sale is very limited, as of 1/28/2013 there are only 23 houses listed for sale through the MLS database.</span> The available inventory is historically low which may result in continued upward pressure on house values in 2014.</p>
<p>Under $300k 0 houses</p>
<p>$300-400k 5 houses</p>
<p>$400-500k 3 houses</p>
<p>$500-600k 2 houses</p>
<p>$600-700k 4 houses</p>
<p>$700-800k 3 houses</p>
<p>$800-900k 1 house</p>
<p>$900-1 mil 1 house</p>
<p>Over 1 mil 4 houses</p>
<p>There are a number of reasons for the improved real estate market, both in Sharon which is renowned as the #1 place to live, and in the greater Boston area, as the economy continues to improve and mortgage rates remain at affordable levels.</p>
<p> </p> urn:uuid:86162063899c7f4b32c4e069194defad5b734476Should you be more concerned about carbon monoxide in your house during the winter?Richard Gorden2013-12-02T15:27:04-05:002013-12-02T15:27:01-05:00
<p><strong><em>The answer is</em></strong> YES! Carbon monoxide is a colorless, odorless, and poisonous gas produced in your home as a result of incomplete burning of fuels such as natural gas, wood, oil, kerosene and propane gas. These are all prevalent in this region and can occur in fireplaces, gas stoves, and dryers as well as home heating systems.</p>
<p>During the winter season, heating systems are using more of these fuels while at the same time your house is less likely to be well-ventilated. These are prime conditions for carbon monoxide build-up and is another reason to have your heating system tuned up for efficiency and flues and chimneys checked for blockage or breaks.</p>
<p>Symptoms of carbon monoxide poisoning include headaches, dizziness, and nausea which are more severe while in the house and diminish when out in fresh air.</p>
<p>Carbon monoxide detectors should be installed outside the bedroom areas and in every level of living space. Don’t install detectors near heating or cooking appliances or in humid areas like bathrooms. More sophisticated digital detectors continuously measure the level of carbon monoxide rather than simply sounding an alarm with increased levels. Plug-in or wired detectors should have battery back-up and all devices should be tested regularly (at least once a month during the heating season). If a detector alarm sounds, be sure to open windows to ventilate the house and get fresh air. Suspected sources of carbon monoxide should be immediately checked by a professional technician.</p>
<p> </p> urn:uuid:263c99ef1268e7e43e65a38960c60319bad0a176Preparing your house or condo for the winterRichard Gorden2013-11-15T07:22:44-05:002013-11-15T07:22:41-05:00
<p> </p>
<p><strong><em>Q. How should I prepare my house for the winter?</em></strong> </p>
<p>A. There are many things to consider to prepare your house for the cold winter months, with the safety factor of prime importance. Another consideration is energy conservation which will save you a significant amount of money while reducing energy consumption.</p>
<p>The first step is to have your heating system tuned up for the heating season. Your system will run more efficiently and will be less likely to break down when needed most. It is recommended that you have a professional heating contractor service a gas-fired system at least every other year and an oil-fired system checked annually. An easy and inexpensive maintenance item is the replacement of air filters which should be done monthly through the heating season to make your system run more efficiently and provide healthier air quality.</p>
<p>Have your chimney and fireplace inspected and cleaned once a year. Whether you use your fireplace or not, many heating systems and hot water tanks are vented through the chimney and need a functioning flue for proper exhaust. An inspection could reveal a compromised flue which is a serious safety concern. </p>
<p>Mass Save promotes energy conservation and provides a no-cost Home Energy Assessment for your house. This is a valuable tool to provide energy-saving tips and guidance for making your house environmentally friendly and more energy efficient. Contact at 866-527-7283 or <a href="http://www.massave.com/">www.massave.com</a>.</p>
<p>Another inexpensive improvement is to install programmable thermostats so that heat is used when necessary and saved during times away from the house or during the night. </p>
<p>Be aware of safety issues when preparing for the winter heating season. Keep curtains and furniture away from heating vents and baseboard heat. This is not only a safety concern, but will reduce the heating efficiency if you have blocked heating vents. Do not use appliances such as ovens or toasters to heat any living space. If you use space heaters, leave at least a 3’ clearance from any potential flammable objects, and check for any dust that accumulates in and around the space heater, and keep an eye out for frayed or exposed wires. Space heaters should not be left on while unattended when you are out of the house or during sleeping hours.</p>
<p>Carbon monoxide is another safety topic which is addressed more completely in my next blog.</p> urn:uuid:85a8191f28d600765db440c14c2ecab04ba89026Buying a house in today's busy real estate marketRichard Gorden2013-09-24T13:01:24-04:002013-09-24T13:01:22-04:00
<p><strong>Home Buying Tips in a busy real estate market:</strong></p>
<p> The local real estate market has seen significant improvement in activity in 2013. Prices have been on the rise and inventory levels are low. Those properties that are competitively priced are attracting many buyers with potentially competing and multiple offers.</p>
<p> </p>
<ol>
<li>Even before you are ready to buy, spend some time with your Realtor to discuss your “wish list” and realistic price range. You should be familiar with the inventory so that when you are ready to buy, you can recognize a well-priced property.</li>
<li>Visit open houses and preview properties to establish a basis for values. Select a Buyer’s agent who knows and understands the local market.</li>
<li>Line up your professional team to help you navigate through the homebuying process. You should develop a trusted relationship with an experienced buyer’s real estate agent, real estate attorney, professional home inspector, and mortgage lender.</li>
<li>Discuss your financing needs with a mortgage professional and have a pre-approval ready to go. A pre-approval from your lender will hold more weight than a pre-qualification letter.</li>
<li>If you are competing with other offers, make your offer as strong as possible with your highest and best price with few or no contingencies. The strongest offer will be for cash and without inspection contingencies, but this is not always recommended or possible.</li>
<li>You can provide a very strong and competitive offer if you have 20% down payment, or offer a significant deposit which demonstrates to the seller that you are committed to buying the house. Have a trusted home inspector ready to complete the inspection within a few days of your accepted offer.</li>
<li>Sellers will not only look at your offer amount, but consider the easiest path to complete the transaction. Find out what the sellers’ timeframe is for moving and offer to be flexible with their timeframe. Some sellers appreciate a personal note from a buyer which could sway their decision if other terms are similar.</li>
</ol>
<p> </p>
<p>You may or may not find yourself in a competing offer situation, but be prepared if necessary to make your offer as strong as you can.</p> urn:uuid:81a0e55328165ea10d2cf02a2ecd87a4b0473317E-sign Richard Gorden2013-07-29T12:39:07-04:002013-07-29T12:39:06-04:00
<p><strong>Q</strong>. <strong><em>Are electronic signatures acceptable on real estate documents?</em></strong></p>
<p><strong>A</strong>. Real Estate agreements and documents are not enforceable unless signed by the parties involved. An electronic signature is a legal tool intended to accomplish the same function as a handwritten signature which is an agreement to terms of a contract.</p>
<p>State and federal statutes and guidelines have been established so that electronic records and signatures carry the same weight and legal effect as traditional paper documents. There are no legal barriers to this technology being used for a real estate transaction. <strong>An electronic signature is only valid if the signer intends to sign the paperwork (there must be intent) and must separately agree to and consent to the use of electronic signatures.</strong></p>
<p>Parties involved in the real estate transaction are considered consumers and there may be "required information" such as agency disclosure, or lead paint notification to be signed electronically. This can be done if specific consent is given by the consumer anytime prior to signing paperwork.</p>
<p>All signed paperwork needs to be in a format that can be retained and reproduced, and be accessible to all parties. An electronic<br />signature must be attached to or logically associated with the documents being signed. As electronic signatures become more user-friendly, signed documents and files can be readily shared thus reducing the need for hard copies and paper files.</p> urn:uuid:bb9ff9f5437181971dc58cf858e29994ca6e0975Check your credit report!Richard Gorden2013-06-07T14:27:48-04:002013-06-07T14:27:47-04:00
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<p><strong><em>Q. How does your credit history affect your purchase of a home?</em></strong> </p>
<p>A. Your history of credit is one of the most important factors used by lenders to determine whether you qualify for a mortgage and the interest rate for your financing. Credit scores also affect the ability to rent property. Credit rating is calculated through many factors to arrive at your FICO score which determines your credit worthiness. (FICO scores were developed by the company Fair, Isaac, and Co.)</p>
<p>Your <em>payment history</em> and <em>amounts owed</em> make up approximately 65% of your credit score; the <em>length of credit history, types of credit</em>, and <em>new credit</em> account for the balance. Credit scores can range from the 300’s to over 900 and the higher your score, the easier and cheaper it becomes to secure a loan. There are several ways to improve a credit score:</p>
<p>1. pay down your balances to less than 30% of credit card limit.</p>
<p>2. remove incorrect information from credit report</p>
<p>3. pay your bills on time</p>
<p>4. postpone new debt for big-ticket items</p>
<p>5. don’t let disputes go to collections.</p>
<p>Remember that credit applications and inquiries can also have a negative impact on your credit score.</p>
<p>You should review your credit report well in advance of a mortgage or rental application to see if there are any mistakes or improvements you could make. Be sure your personal credit report is accurate, complete, and up-to-date. It is also critical to be sure you have not been the victim of identity theft. You are entitled to 1 free copy annually of your own credit report, either through <a href="http://www.annualcreditreport.com/">www.annualcreditreport.com</a> or by calling 1-877-322-8228.</p>
<p> </p> urn:uuid:1c0573429e366fe202213eb7aa8287518480c6a7Short SalesRichard Gorden2013-05-16T07:40:52-04:002013-05-16T07:40:53-04:00
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<p><strong><em>Q. What is a “short sale”?</em></strong><em> </em></p>
<p>A. A “Short Sale” is the process through which a homeowner can sell a property even though the sale would not provide enough proceeds to pay off the existing mortgage balance. This is a situation also known as being “under water” on the mortgage where the mortgage balance is higher than the market value of the house. For a short sale, the mortgage holder (lender or lenders) may be willing to accept less than the full amount they are owed which often reduces the lenders’ costs associated with the foreclosure process. Lenders’ costs include attorneys’ fees, auction fees, eviction expenses, property maintenance after foreclosure, and re-selling expenses.</p>
<p>With a short sale, the homeowner may benefit from preventing foreclosure and bankruptcy, gaining more control over the selling process and timeframe, and possibly take less of a hit on their credit score to qualify for a future home purchase. Short sales have historically been a tedious and frustrating process, often taking many months to resolve, but there have been recent changes in the rules which streamline the process to a 30-60 day timeframe for a lender’s decision. An extension of the Mortgage Debt Relief Act through December 31, 2013 allows the homeowner tax benefits from the debt foregiveness. New rules may allow homeowners who are “under water” to qualify for a short sale even if they are not delinquent in their mortgage payments but affected by illness, unemployment, or death of a spouse. Some lenders are paying the homeowner an additional relocation expense to encourage a short sale rather than the foreclosure process.</p>
<p>Short sales remain a complicated process, but should be considered as a viable alternative with guidance from an experienced Realtor, attorney and tax advisor.</p>
<p><strong><em> </em></strong></p> urn:uuid:0a43c6f3e4e9db6b56f8ec783cd346a0afd371d1Compliance with smoke detectorsRichard Gorden2013-04-27T10:24:13-04:002013-04-27T10:24:14-04:00
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<p><strong><em>Q. What are the requirements for smoke and carbon monoxide detectors when selling a house?</em></strong><em> </em></p>
<p><strong><em>A</em></strong>. State law requires that approved smoke and carbon monoxide detectors must be installed upon the sale or transfer of houses and that a Certificate of Compliance must be issued by your local fire department. As of 2010 a significant change became effective which requires a specific <strong><em>photoelectric</em></strong> smoke detector be installed within 20’ of kitchens and bathrooms (with a shower or bathtub). The risk of nuisance alarms from steam and cooking is lower with this type of detector. All smoke detectors installed outside of 20’ of kitchens and bathrooms must use a dual detector which has both <strong><em>ionization</em></strong> and photoelectric technology, or 2 separate detectors. This applies to all residences built before 1975, and is a recommended upgrade for house built after 1975.</p>
<p>Carbon monoxide alarms are required in all residences that have fossil fuel-burning equipment or an attached garage. Specific requirements for both smoke and carbon monoxide detectors vary depending on the year your house was built. 1 detector is always a must on each habitable level of living space, 1 for every 1200 sqft, 1 at the base of each stairway, 1 outside each sleeping area. Combination units are permitted. For specific requirements for your residence, contact your local fire department or Department of Fire Services at 978-567-3300 or <a href="http://www.mass.gov/dfs">www.mass.gov/dfs</a>. </p>
<p><span style="color: #ff0000;"><strong><span style="color: #000000;">Whether you own or rent, <span style="color: #ff0000;">i</span></span>t is recommended that you test smoke and carbon monoxide detectors every month and replace the batteries twice a year. An easy reminder is to change the batteries when you change the clocks. Detectors that are over 10 years old should be replaced</strong>.</span></p> urn:uuid:a9503e02e8c13a9bb9756b98e853416c046d8d57Local market updateRichard Gorden2013-04-15T09:00:21-04:002013-04-15T09:00:21-04:00
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<p><strong><em>Q. Has the real estate market improved this spring?</em></strong> </p>
<p><strong><em>A.</em></strong> Many economic indicators support the current news reports that the real estate market is beginning a significant recovery. There are a number of factors which are creating a “perfect storm” for an active real estate market. The most influential factor is the historically low mortgage rates which allow home buyers to lock in rates for up to a 30-year period for under 4%. With a more stable economy, many buyers who have been on the real estate sidelines have more confidence in the job market to take advantage of these low mortgage rates and house prices that remain below the peak prices of several years ago.</p>
<p>There is upward pressure on house values because of the large number of prospective homebuyers combined with a significant lack of available properties for sale. As an example, the number of single family houses for sale inSharon(based on MLS data) is approximately 36 with another 29 houses already under contract and scheduled to close. Out of this total, there are only 5 available in the price range from $100,000-$500,000 and another 26 currently available in the price range $500,000-$1,000,000. Typically, there would be 3-4 times this number of available houses for sale. </p>
<p>Here is a year-to-year comparison of single-family houses sold inSharon: (mls data)</p>
<p> Year # of sold houses Average Sales Price Selling Price/List price %</p>
<p> 2010 148 $434,700 96%</p>
<p>2011 164 450,500 97%</p>
<p>2012 209 449,000 97%</p>
<p>1/13-3/13 37 500,800 96%</p>
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<p>This chart reveals both an increase in numbers of house sold and an increase in average selling prices.</p>
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