Real Estate Information Archive

Here is a great post from a colleague from Colorado...  Some excellent points on what a Franklin, Massachusetts DIY buyer needs to beware of.  Commission money is already set aside for the Massachusetts buyer agent in most transactions so the buyer really does not save anything but only loses the opportunity for great guidance, experience and professional expertise from the buyer agent...

A great family just closed on their new home on 439 Martello Road in Franklin, MA today!  They are so excited to get involved with sports and school activities within the town.

This lovely home has everything a family could ask for including 5 bedrooms, 2.5 baths, new windows, roof and hardwood floors throughout.  An updated kitchen with quartz countertops and breakfast bar offer a casual eating area.  The finished basement has a playroom, game room and dry bar and brings the living space total to 3378 gross living area.  The large yard offers two-thirds of an acre and this wonderful home is located in a great neighborhood setting walking distance to schools and close to highway, train, shops and downtown.  The asking price on this home was $479,900.

If you are thinking of buying or selling in the Franklin area, give me a call at 508-369-5131 and I can provide the information you need to get you moving into your dream home...

These questions will help you decide whether you're ready for a Franklin, Massachusetts home that's larger or in a more desirable location.  If you answer yes to most of the questions, it's a sign that you may be ready to move.

 1. Have you built substantial equity in your current home? Look at your annual mortgage statement or call your lender to find out. Usually, you don't build up much equity in the first few years of your mortgage, as monthly payments are mostly interest, but if you've owned your Franklin home for five or more years, you may have significant, unrealized gains.  The local real estate market peaked around May 2005 so a purchase prior to that time makes it more likely you have built substantial equity.

 2. Has your income or financial situation improved? If you're making more money, you may be able to afford higher mortgage payments and cover the costs of moving. 

 3. Have you outgrown your neighborhood? The neighborhood you pick for your first home might not be the same neighborhood you want to settle down in for good. For example, you may have realized that you'd like to be closer to your job or live in a better school district. 

 4. Are there reasons why you can't remodel or add on? Sometimes you can create a bigger home by adding a new room or building up. But if your property isn't large enough, your municipality doesn't allow it, or you're simply not interested in remodeling, then moving to a bigger Franklin, MA home may be your best option.  I have a couple whose family had grown which necessitated a 4 bedroom instead of their current 3 bedroom home.  As we viewed 4 bedroom homes, it became apparent that moving up would actually be less costly than adding on at this time.

 5. Are you comfortable moving in the current housing market? If your market is hot, your home may sell quickly and for top dollar, but the home you buy also will be more expensive. If your market is slow, finding a buyer may take longer, but you'll have more selection and better pricing as you seek your new home.

 6. Are interest rates attractive? A low rate not only helps you buy a larger home, but also makes it easier to find a buyer.

If you could use help in making sense of the current Franklin, Massachusetts real estate market, please feel free to call me at 508-369-5131 or email.  I will give you your likely selling price at this time and show you what slightly larger homes are selling for...

A review of the data from the MLS system going back three months in Franklin, MA reveals the following:

• 77 homes have sold from 3/16/10 to 6/16/10
• 93 days is the average number of days it takes to sell a Franklin, MA home
• $400,959 is the average sales price
• $410,641 is the average list price
• 4% is the difference between the average original list price and the final sales price
• 2% is the difference between the average adjusted list price and the final sales price

The data mostly tells us that well-priced homes are selling rather quickly.  Franklin, Massachusetts homes that are well maintained and priced right are receiving multiple offers on a regular basis however the media does not provide this information to the average consumer.

Please give me a call at 508-369-5131 or email if you would like to know more.  I can provide a PDF of this information for you...

What could be the most important thing in your Franklin, MA home?  Of course, your family including your pets are the top priority but as far as one item that will track all aspects of your home--the home journal is it!

A home journal is an all-in-one organizer to track all of your home's facts.  The best journals have envelopes to retain important documents including closing documents.  The pages can include before and after photos, appliances, warranties, utility info, circuit breaker identification, smoke detector checklist, insurance, telephone directory of contractors, repairs made with dates noted, yearly maintenance pages and some homeowners even keep a wish list page with a budget for future updates.  Many people attach paint chips, flooring and wallpaper samples.

When it comes time to move or update, you will save time knowing that everything is stored in the journal.  Also, those who have used this system have been able to clear out clutter from file cabinets since only the relevant home items will be entered into the journal.

If you need help sorting through the real estate process, give me a call at 508-369-5131 or email.   I will provide the clarity to move you forward...

I have attempted to show some of the more outstanding Franklin, Massachusetts properties that are currently on the market through these Best Buy lists.  These homes may or may not be my listings, rather they are, in my opinion only, the best value for the money...

Beautifully updated split entry featuring 3 Bedrooms, 2 Bath, Hardwood Floors, Fire Place, Crown Molding, & French Doors. Lower lever offers Finished Family room, Full Bath, Office and Exercise room & possible 4th Bdrm. Spectacular back yard with inground Pool, Fenced in area with Privacy . GREAT LOCATION just minutes from 495.  Kennedy school district!  Asking $364,000.

If you have questions about this or other homes, please email me at franklinmahomes@comcast.net or give a call at 508-369-5131. 

For more available listings, click here.

This fully updated Franklin, MA home, offered by the Kelly & Colombo Group, features new windows, roof and hardwood floors throughout.   

 The kitchen is updated with quartz countertops and the breakfast bar offers a casual eating area. 

A professionally finished basement with game room, drybar and playroom are just some of the extras.   The attached family room, dining room, and office all provide extensive living space. 

This home is located in a very desirable neighborhood close to shops, commuter rail and highways...

If you need help in determining the fair market value and best selling price of your home, call me at 508-369-5131 or email.  

Franklin, MA buyer agents are commonly asked whether a 3 or 4 bedroom home is a better choice.  Most Realtors will agree that getting the most house for the money is the optimal scenario but what about when two homes are very similar except for the number of bedrooms?

Usually, four bedroom homes are priced much higher than three bedroom homes so often it comes down to the amount of money a buyer has to spend on their home purchase.  The Multiple Listing Service (MLSPIN) for the Greater Boston area shows that over the past 6 months Franklin 3 bedroom homes sold for an average of $328,003 whereas Franklin 4 bedroom homes sold for $441,176.

As a current buyer agent for a couple, we have seen a number of Franklin, MA homes which are very nice and could easily suit their needs.  Two homes in particular stand out though because of their great condition, nice lots and fair pricing.  One is a 15 year old, three bedroom home in a great family friendly neighborhood with a fenced yard and the other is a 5 year old four bedroom home that shows like brand-new but is in a location with homes further apart and therefore less family friendly.  The asking prices are not all that different.

What is a buyer to do?  How should they choose their home where they will likely stay for the next 15 years.  The answer seems to lie in assessing their lifestyle.  I ask my clients what they enjoy doing in their free time and what are their children involved in.  If a new family is coming from another area, usually they are looking to meet other families and hope that their children will make neighborhood connections.

There is no absolute answer but buyers must give serious thought to their choice before they simply opt for the largest home for the money...

If you need help sorting through your buying options, feel free to give me a call at 508-369-5131 or email.  I will help you brainstorm through some options so you can make an informed decision.

While the town of Franklin, Massachusetts has not escaped financial struggles just like most metro west of Boston towns, it appears to have really held its own on the housing front. Homes in Franklin have only marginally lost value during this recession compared to other surrounding towns and informed buyers still seem to choose Franklin over other towns due to a variety of reasons. Most cite the easy commute to highways including Routes 495, 95 and the Mass. Pike. Others focus on the strong school system or the commuter rail service with two Franklin stops. Many agree that the lower property taxes but a wealth of services were contributing factors in their decision.  

 A 9 month review of five area towns from the Multiple Listing Service reveals the following data:

Average sale price: $403,410

# of Homes sold: 180

************************************************************************************

$413,992

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$279,942

109

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$272,015

117

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96%

$362,435

88

The Franklin, Massachusetts real estate market has been moving at a sometimes slow, but usually moderate pace this spring despite the First Time Homebuyer Tax Credit incentives which ended April 30^th.   If you had asked 10 local REALTORS whether their business saw a spike due to the Tax Credit incentive, 9 of them would tell you that there was virtually no impact; the 10^th agent would tell you they experienced a buying frenzy--but they would be lying!

Despite this government programs' lack of impact on Franklin, MA real estate sales, it was interesting to note the latest data from REALTOR.com.  Their site tracks property "views" or "hits" to our Kelly & Colombo Team listings.  The graphs and data below show the number of times that each property is viewed online-as of May 1^st the "views" severely dropped off.  The price range or location of the home did not seem to affect the data either.

What does this data all mean?  Have all the buyers disappeared?  Actually I, as well as my other Team members, am all very busy with both buyers and sellers.  We regularly get lots of showings and daily calls on our listings.  Maybe the data just means that only the serious buyers are out now and previously there could have been a lot of people looking that maybe were not actually financially able to purchase? 

 If you are getting ready to sell, please give me a call/text 508-369-5131 or email franklinmahomes@comcast.net.   I may just have the buyers waiting for your home to hit the market...