Real Estate Information Archive

The state of Massachusetts holds the honorary title of "Highest Rate of College Graduation in the Country" according to the National Center for Higher Education Management Systems.

They report that 68% of Massachusetts students earn their bachelor's degree in 6 years or less.  Other states with the highest graduation rates include Delaware, Pennsylvania, Rhode Island, and Maryland  whereas Alaska had the lowest graduation rate at only 22.4%.

On a related note, within a week or two, Franklin, Massachusetts as well as Boston residents will get to experience the onslaught of masses of college students returning to classes.  Remember that Franklin, MA is home to Dean College.  We love being a college town but just need patience when the streets are clogged with students unloading all their stuff!

Ever since a few vacancies have occurred in commercial space around Franklin, MA there has been no shortage of speculation regarding which restaurants or grocery chain would become the next tenant.  The latest word has been that Bertucci's restaurant will occupy the old Applebee's space in The Franklin Village Plaza on Route 140.

Although I have heard multiple times from teenagers to senior citizens that Bertucci's is a definite, the chain's website made no mention of this new location.  I called the Town of Franklin Planning Board and they confirmed that no plan has yet been submitted so at this moment it is only rumor.  Maybe something is in the works but we will have to only watch, hope and dream of fresh baked rolls hot from the oven...

Just listed this classic Colonial on a cul-de-sac in one of Milford's most desirable neighborhoods!

• Attached 24 foot great room with cathedral ceiling and fireplace
• Eat-in maple cabinet kitchen with center island
• Dining room features hardwood floors, crown molding and chair rails
• First floor study/living room with french doors
• Central air

Please call 508-369-5131 or email me for more information.  A complete floor plan is available upon request.

This weekend the Franklin, MA and Boston area saw record high temperatures for March.  We can easily get excited over upper 40 and 50 degree temps after coming off of a long cold winter!  My west coast daughter would mock me on this since her blood has thinned.

I was so eager to get out for my first run of the season and hoped that my real estate schedule for the weekend would allow it. I eventually was able to schedule a block of time to get out Saturday morning.  It is always a fantastic feeling to lace up the running shoes, get the Ipod set and head out for the first run.  Non-runners I know have trouble understanding this concept.  I equate it to the first days of warm weather when as a teenager you'd drive off from school in your first car with the music blaring and the windows down.  I know... these sound like simple pleasures but in a busy, stressful world we all need something to call our own that can hopefully be relaxing.

Did I mention how achy I was for the next 24 hours, but I sure was relaxed...

Since the topic of conversation with Franklin, MA and Boston area agents has recently centered on the lack of available housing inventory for prospective buyers, I decided to take an informal survey of the situation.

I individually asked ten Franklin Realtors how many buyers they had who would likely purchase a home priced between $250,000 and $450,000 on or before April 30^th, 2010.  I chose April 30^th since move-up or first time buyers looking to take advantage of the homebuyer tax credit must have a signed contract on a home by this date.  The agents did not know any explanation other than I was gathering information for a future blog post.  The data I collected cannot be viewed as statistically significant but rather just a small snapshot of the current Franklin, MA market conditions.

The respondents indicated the following:

• Six agents expect five buyers will buy
• One agent expects three buyers
• One agent expects eight buyers
• Two agents expects four buyers

This was very interesting to consider that potentially a total of 20 buyers –connected to ten different Realtors-- are expected to purchase a home during the next three months.  The harsh reality is that currently there are only 57 homes for sale in the entire town in every price range.  This group was only a fraction of the buyer agents who will likely have prospective buyers for Franklin homes over the next three months.  Most every full-time agent has distinct memories of the endless bidding wars during 2009 in which some buyers were not able to find a home as they attempted to meet the (then) November 30^th, 2009 deadline.

Buyers need homes to purchase now.   Sellers, despite it still being a buyer’s market, can rest assured that the low inventory of homes means a likely higher selling price for their home.  The time it takes to sell a home may also be reduced as buyers feel the pressure to find the best home as soon as they can. Homes do need to properly appraise with the bank agreeing with the selling price but valuations may begin to rise.

It really is a good time to sell or buy a home! 

Please give me a call or email if you need more data or have questions about this information…

The city of Chicago recently made news with their award-winning after school programs  meant to keep kids busy with learning and fun during the often long and otherwise lonely after school hours.  Long term studies found that involved kids were more likely to have better grades, go on to graduate and were generally more successful than their non-involved counterparts. 

While news outlets focus on city school systems, it seems noteworthy that our own small town of Franklin, MA offers many impressive after school learning and enrichment programs for both middle and high school students.  Many residents and newcomers have expressed surprise at the extensive selection of offerings.

Did you know that Franklin youth can:

*enjoy weekly afternoon/evening Ski Club at Wachusett Mountain

*create an art-related community project to benefit the citizens of Franklin through Art Club

*organize and run fundraisers like a coat drive through the Communiteen Club

*get caught up on homework with friends at the Homework Club

*mountain bike in the Franklin State Forest with the Adventure Club

*tweak computer skills with friends at Computer Club

*build a rocket ship at Lego Club

*participate in ultimate Frisbee or weight training at Fitness Club

*learn about theater or film production at Drama Club

*play music in the Rock Band Club

*expand awareness of disabilities and make new friends through Best Buddies Club

*learn healthy choices, have fun and take risks without drugs or alcohol through Proud to Be Club

*defend a point of view through Mock Trial Club

These are only a fraction of the groups and clubs for Franklin youth.  There are also extensive sports offerings as well and many youth take advantage of a little of everything.  No longer does a teen have to sit at home bored after school when there are so many other options available.

If you are one of the many buyers that I speak with on a regular basis who is thinking about making a Franklin, MA home purchase in the next few months there are some things you will want to know and do now...

US News and World Report's real estate blogger, Luke Mullins, reminds us that 2010 will bring even stricter lending standards.  This does not necessarily mean you cannot get a loan, only that you may need to get more creative.  The ability to have 20% saved for a down payment will guarantee the best mortgage rates but alternatively keep in mind that the FHA option only requires 3.5% down.

Prospective buyers can take steps now to prepare for taking a home loan by first checking their credit at a free site such as annualcreditreport.com.  Mullins reminds us that a credit score of 730 or above will get you the best rates on a loan.

Another issue to bear in mind is that there will likely be bidding wars on Franklin, MA homes that are priced under $450,000.  There were bidding wars in this price range during the latter part of 2009 due to the limited inventory of homes and this is likely to continue. 

Buyers can give themselves an edge if they consider buying well before the masses are out looking in April and May when the landscapes are at their best.  The buyer who is actively looking at listings online then getting out with their buyer agent in December and January may have to dress for the elements but can typically avoid the competing buyers.  The closing date may be scheduled sooner or even months' later depending on what is agreed upon between buyer and seller but at least the bidding wars may be avoided.

If you need to speak with a Buyer Agent as you prepare to purchase a home, please give me a call at 508-369-5131 and I would be happy to help you plan.

The metro west of Boston area and towns like Franklin, Massachusetts hit its highest prices around May 2005 and we have been in a sometimes subtle and other times rapid decline ever since.  Although some buyers are still waiting for lower prices, it appears both home prices and interest rates may rise slightly.  The spring 2010 home prices will still be no where near the spring 2005 price levels.  Since interest rates were much higher four years ago 2010 will still be a good time to purchase a home.

Economic forecasters predict that 2010 will be the first year since 2005 for housing to contribute to the growth of the U.S. economy, according to a survey released by the National Association for Business Economics.

Home prices are expected to rise 2 percent next year, but forecasters don’t believe the increase in prices will discourage homebuyers.

More than 80 percent of economists surveyed by the NABE think the recession is over and recovery has begun, but they expect the expansion to be slow because unemployment persists.

If you are curious regarding what your home is worth in this changing market, give me a call and I will provide a market analysis of your home's current value.  You can reach me at 508-369-5131 or franklinmahomes@comcast.net.

Well this is proving to be a colder than usual October and it is time to think about how to stay warm and comfortable.  Last winter, around mid November we purchased a pellet stove after much research.  We used to supplement our oil heat with a coal stove but found it very dusty and difficult to keep going consistently.  Pellet stoves seemed to offer a relatively low ash, affordable and convenient solution. 

We bought our stove at Royal Fireside in Mendon, MA and found their customer service very good.  They were very busy but still made time to answer our questions.  We are fussy buyers who wanted a streamlined, not clunky-looking stove and they had one that was perfect.  We spent around $4000.00 total including installation of the unit.

Now it was time to figure out this whole pellet choice issue.  It started to seem like this alternative heating was an entire new world that we needed to get familiar with.  We used one pellet company initially whose pellets were reasonably priced (then they were $335/ton and we needed 2 tons).  We then saw a lower priced offer and switched companies which turned out to be a mistake since the amount of dust/ash was excessive. 

We really had trouble gauging what quantity of pellets to buy since everyone seemed to use different amounts.  We eventually found ourselves using one bag per day with up to 2 bags during the most frigid months in winter 2009.  We learned that there are 50 bags for every ton of pellets. 

We hardly used our pre-bought oil last year and had so much left that it is difficult to calculate what dollar amount we actually used.  We do need the oil to heat our hot water but this is nominal compared to home heating bills.

The premium hardwood pellets seem to be priced much lower this year at $269/ton.  We are having 2 tons delivered tomorrow which we will all help stack in our designated storage place.  Yes, this is somewhat inconvenient to have to do all this physical labor but with several people it takes under an hour.  Each bag weighs 40 lbs. so I just groove to the Ipod and consider it a great workout!  If we had garage space, the delivery truck could place it on a pallet right in the garage.

So your home never did sell after many months or maybe a year or more of keeping it neat and ready for prospective buyers.  It is easy to blame the economy and the down real estate market but the truth is that all homes will sell for the right price.  Proper pricing makes up the majority of reasons that homes do not sell, followed by incorrect marketing.  It is critical that sellers price correctly from the start especially in a downward trending market.  The price should take into account the likely depreciation over the next 30-60 days. 

A good Realtor explains this to homeowners and does not accept listings that are over-priced for the comparable market data.  It will not benefit anyone to list a home whose price is not supported by recent data and only leads to a seller's inconvenience, wasted time and money as well as frustration.

If you are still thinking of selling, please give a call or email and I would be happy to provide an accurate analysis of your proper pricing and outline my comprehensive marketing plan for sure results.