Real Estate Information

The January data for Franklin, Massachusetts is available and despite the cold weather, homes are selling.  The Multiple Listing Service reveals the following:

• it is taking 107 days for homes to go under contract
• 5 homes went under contract during the month of January
• the average list price was $381,820
• the average sales price was $369,596
• 10 homes closed during the month
• homes are selling within an average of 2% of their last price reduction but averaging 10% from their original asking price

I have attempted to show some of the more outstanding 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 choices for the money...

Here is this week's home...

This pristine 3 bedroom, 2.5 bath Colonial is in a neighborhood location at 12 Symmes Road, Franklin.  It features a 2 car garage, has some hardwood floors and many updates.  It shows nicely for $369,900.

  If you would like to view this or other metro west of Boston homes, please email me at franklinmahomes@comcast.net or give a call at 508-369-5131.

Housing inventory, although improving, still remains on the low side for most of the metro west of Boston towns.  There are so many buyers of all income brackets who are now ready to purchase a home but simply not enough homes for sale. They have their pre-approval letter from the bank to know what they can afford and they have done some research on where they want to live.

I am working with two very eager couples who are just waiting for the house that meets their search criteria.  Every buyer has certain wants and needs in a home but these folks are both very realistic in their demands.

Meet Gretchen & Eric.  They are young, first-time buyers who are only a few years out of college and want to start building equity by owning a home.  They hope to put a home under contract on or before the April 30th tax credit deadline.  They spoke to their mortgage broker who advised them that with their combined incomes/savings they should be conservative and stick to a home under $325,000.  Gretchen & Eric have done their research and have narrowed their search to the towns of Mendon and Franklin based on the excellent school systems and convenience to the commuter rail to Boston for work.  They want a house rather than a condo since they have a dog who could use a small yard.  If you know someone who is thinking of selling a Franklin or Mendonhome on a side street priced under $325,000 with at least 3 bedrooms and 1+ bathroom please give me a call...

Meet Ramona & Paul.  They are older and Paul has 2 twenty-year old twin daughters sometimes living with them from his previous marriage.  Together they have 2 young children, ages 1 and 4.  This couple is not concerned about the tax credit deadline but are eager to find a luxurious, spacious home near Ramona's work and their daycare which is in Westborough.  They will also consider the towns of Southborough and Hopkinton and may or may not put their young children in private school.  Paul works from home so location is not as important for his needs.  They have owned previously but have been renting for several years and are ready to find a home that meets "the needs of all of us".  Their savings and incomes allow them to search in the $500,000 to $800,000 range which the bank has confirmed.  After intiallyviewing homes in the lower end of their price range they have decided they must spend more to get what they really want since they will likely stay for 15+ years.  Ramona & Paul want a home with at least 3000 sq. ft. of living area, 4+ bedrooms, a finished basement, a large backyard and ideally 2 heat and 2 cool zones.  They prefer open spaces, high ceilings and more contemporary styling.  Do you know of a home for these buyers?

I have attempted to show some of the more outstanding 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 choices for the money...

Picture perfect 9RM 4BR expanded Cape on beautiful private 2+acre lot in neighborhood set back on cul-de-sac. Lovely 26 x 17 family room with refinished hardwood floors. Large oak kitchen with tile and large center island for entertaining. New 36 x 12 deck off kitchen. First floor cathedral master suite with sitting room and master bath with jacuzzi tub. New carpet in master, sitting room, 3rd bedroom and playroom. Three large bedrooms on second floor and a bonus cedar closet. Finished playroom in lower level and 1/2 bath. New roof.  Asking $479,900.

Shows beautifully! Many updates & improvements. 3 bedroom raised ranch set back on a 1+ acre lot along a quiet country road. Recent updates include freshly painted interior, newly re-finished hardwood floors, new ceramic tile bathroom, new kitchen flooring & new appliances. In addition there is a new roof and new furnace. Nice lower level w/ fireplace & new Berber carpet.  Asking $325,000.

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

Most sellers and buyers know that certain components to a home such as the roof or windows are some of the more costly replacement items.  While some components will outlast your ownership, others will need more immediate replacement. 

The National Association of Home Builders guide can be helpful to owners considering what items are worth replacing before a move and to prospective buyers who can factor potential replacement costs into an offer.  The NAHB does caution that the true longevity of any household material depends on maintenance, use, quality of installation, and climate conditions, so use these averages as a general guide.

100 Years or More

Brick siding: Lifetime of the home

All wooden floors: Lifetime of the home

Cellulose insulation material: 100-plus years

50-100 Years

Slate, copper, and clay and concrete roofs: 50+ years

Copper gutters: 50+ years

Kitchen cabinets: Up to 50 years

Modified acrylic kitchen sinks: 50 years

Vinyl floors: 50 years

 30-50 Years

Thermostats: 35 years

Wooden windows: 30 years

Wood shake roofs: 30 years

French interior doors: 30-50 years

 10-20 Years

Built-in audio system: 20 years

Aluminum windows: 15-20 years

Asphalt shingle roofs: 20 years

Faucets, kitchen sinks: 15 years

Gas ranges: 15 years

Cultured marble countertops: 20 years

Dryers and refrigerators: 13 years

Air conditioning units: 10-15 years

Lighting controls: 10+ years

Interior and exterior paints: 15+ years

Electric or gas water heaters: 10 years

Air conditioners: 10-15 years

Furnaces: 15-20 years

"Test Drive The College Experience"

Thursday, January 28, 2010

7:00-9:00 PM 

Dean College Campus Center

135 Emmons Street  Franklin, MA 02038  

Dean College will host "Test Drive the College Experience" a seminar for families of high school aged college applicants on Thursday, January 28, 2010 at 7 p.m. in the Golder Room, Campus Center, 135 Main Street in Franklin.

                Featured speakers will be Renee Vachon Danho, Dean of Professional and Continuing Studies at Dean College and Paul Hemphill, college admissions coach from PreCollege Prep. 

                "Applying to a college can be a daunting experience," said Dean Danho.  "We are hosting this program for parents and high school students who are planning to apply to colleges, and we will highlight ways to enhance college applications, including taking a college-level course as a high school student."

                The program is free of charge and open to the public, but reservations are requested.  To reserve a place, or for more information please call 508-541-1624.

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Red Cross Blood Drive:  

Friday, January 29, 2010, 2-7pm

Perfect Shape Gym

124 Medway Road

Milford, MA 01757

Donation Types: Blood, Double Red Cell Donations

Online appointments are no longer being accepted for this drive, please call 800-GIVE-LIFE for availability.

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"The Rhythm Room"

Saturday, January 30, 2010

6:45-9:30 PM

Tickets online or at the door: only $15

First Universalist Society in Franklin

262 Chestnut Street, Franklin MA 02038  Franklin, MA 02038  

Join the Rhythm Room live at First Universalist Society of Franklin on Saturday evening January 30th.  This is an exciting percussion ensemble based out of Southern Massachusetts. The Rhythm Room interweaves the energy and power of percussion with dynamic vocals to create an explosive, captivating show that sticks with the audience long after it's over.  Integrating world percussion, horns, drums, guitars, piano, and keyboard, the Rhythm Room creates a rich full flavored melodic sound that provides a visually-stimulating experience for audiences of all ages.

The Warren Group, publisher of Banker & Tradesman just released their data on Massachusetts single family home sales.  Their report shows that the four year trend of sliding sales seems to finally be reversed with home sales now up by 3% from 2008 to 2009.

Most Realtors will acknowledge that the Massachusetts market peak was during 2005 when prices were almost 20% higher than the current 2009 sales data.

According to the (MLSPIN) Multiple Listing Service, there are currently 104 total single family homes, including new construction, for sale in Franklin.  During the past 30 days, sales were posted within 3% of a seller's asking price.  Also the data shows that sellers averaged a 4.5% price change from their original price.

The key seems to be pricing right from the start.  This has allowed many sellers to capture the current wave of buyers, and in some cases, start a bidding war for offers...

Wouldn't it be nice to have buyers fighting over you and your home?

Choosing the right Realtor to sell your home can be difficult, especially when they all sound so convincing. The following list of questions will not only help you select the right Realtor, but will also help you get the very best from the agent you choose.

1. Do you work as a full-time Realtor?

2. Do you handle incoming property inquiries?

3. How many listings do you have at this time, and how does this work to my benefit?

4. Do you have a help system to see that no details are overlooked?

5. How many potential buyers and sellers do you speak with each day? Each week? Each year?

6. In what ways will you encourage other Realtors to sell my home?

7. Do you have references that I can check?

8. How will you set my listing apart from the crowd with out costing me more money?

9. What is my property worth? What listing price do you recommend? How did you arrive at that price?

10. How will you assist in my relocation plans?

11. Do you have a written plan of action designed specifically to sell my property?

12. How will you give interested buyers 24 hour access to my property?

13. How will you make information on my property available to out-of-town buyers?

14. How do you promote properties on the Internet?

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…

When Liz, her husband and son first moved to Franklin six years ago, she knew only one other family.  She quickly realized how lonely her days were as a stay-at-home mother of a toddler especially when the only other mom she knew worked full-time.

Liz did her research and discovered the local chapter of the MOMS Club of Franklin, MA North which became her lifesaver.  She was meeting new friends, filling her son's and her own time with activities and really feeling connected to her new community.  Her new relationships were put to the test when she became pregnant and was put on 8 weeks of bedrest.  The MOMS Club was right there with meals, emotional support and babysitting help. 

The MOMS Club began back in California in 1983 when a stay-at-home mom saw the need to connect with other mothers in a similar situation.  The website indicates that there are many chapters around the country and although the meetings are loosely based, the clubs subscribe to four basic goals:

If you are a newcomer to Franklin, MA or have been here awhile, maybe the MOMS Club could provide just the support and friendship you have been seeking...