Locals have long realized that the downtown could use more shops but the area is starting to thrive with its recent upscale coffeeshop and other new shops.  Dean College, a private residential college with a partnership of Suffolk University, brings a youthful, vibrant spirit to the town.  It is situated just off Franklin's downtown and students can be seen hurrying to classes like in any college town.

• There are currently 75 single family homes for sale--the average price is $447,897
• There are 20 single family homes under contract or waiting to close--the average price is $377,629
• There are 21 homes that have closed with an average sales price of $404,493
• Homes have sold within 3% of their most recent price

So what does this all mean, you may ask?  I will mention the obvious first--buyers are concentrated in the lower sales numbers.  This may or may not be due to the first time homebuyer tax credit incentive.  Since the tax credit will expire on April 30th it will be interesting to gauge whether the buyer pool shifts in terms of their price range.

The data also indicates that homes that are priced right will sell based upon the 3% list to selling ratio above.  Sellers may see all sorts of offers but prcing right from the start will get the home sold close to its asking price.

If you are thinking about selling and wonder what your home is worth, please give me a call or email and I will provide the honest data you need to make your decision...

The transaction usually goes something like this:  with their buyer agent the buyers find the house of their dreams, review the sellers' disclosure information, and submit an offer.  The offer is negotiated based on the price and terms and is (after a week) ultimately accepted.  The buyers have disclosure information from the sellers that the heating system is 18 years old but has been very efficient. 

Although the home inspection supported the sellers' claims, the inspector mentioned the average useful lifespan for heating systems as 20 years which left the buyers very apprehensive.  The buyers relate their concerns to their buyer agent and state that they would like to ask the seller to reduce the price of the home by $5000 to cover the potential costs of a "failed heating system." 

The buyer agent lets the clients know that she/he understands their fears but that the inspection report shows a "functioning, well-maintained" heating system.  The agent tries to help the client understand the difference between average useful lifespan and present condition of mechanical items in a home but despite lengthy discussions the buyers insist that they must ask for money off the already agreed upon price of the home.  The buyer agent lets the clients know that they could potentially lose this home since their requests may be viewed by the seller as excessive.  Of course their requests are rejected and they must buy the home with the 18 year old system or walk away.  The reality is that lately many sellers will just go on to another offer rather than be "nickel and dimed" by unrealistic buyers. 

Newton real estate attorney, Edward Shapiro clarifies that only major defects that are uncovered during the home inspection are solid reasons for renegotiating the price.  He advises that sellers include a clause in the offer that "says the offer is good unless estimated repairs, as gleaned from the home inspection, exceed a specified dollar amount."  Shapiro reminds sellers to be honest from the start in disclosing any known issues with the home.

If you need information about selling your home or are trying to understand what is realistic to expect as a prospective buyer, check out my website at www.franklinmahomes.com or give me a call at 508-369-5131.

Here is this week's home...

Lovely and inviting center entrance colonial in a beautiful neighborhood setting! Living space totals 1889 sq.ft. with an additional 650 sq.ft. in finished basement.  Minutes to the highway and schools, this home is also walking distance to town, commuter rail, shopping and restaurants!  Central air, hardwood floors, neutral decor, spacious rooms, an open floor plan and a finished, walk-out lower level! Don't forget the screened in porch overlooking nearly one acre lot of land!  Reduced to $419,900.

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.

If you are trying to determine what your home would sell for in today's changing real estate market, give me a call and I can help--without any obligation...

There was a time when a metro west of Boston/Franklin MA area Realtor would rarely see buyers who were only putting down 3.5% through an FHA loan.   As the economy has changed and buyers have less saved, the FHA program has become the norm over the past few years--especially for first time buyers.

The National Association of REALTORS® also opposes the proposal to raise the mandatory down payment for an FHA loan. "The FHA remains financially strong because it has taken steps to ensure solid underwriting standards and responsible lending practices," said Charles McMillan, NAR immediate past president, in testimony before the House Subcommittee on Housing and Community Opportunity.

“As the leading advocate for housing issues, NAR believes that one of the best ways Congress can help strengthen FHA is to quickly consider and pass legislation that would make current loan limits permanent,” McMillan said.

McMillan went on to say that FHA was able to fill the gap for those who could not otherwise obtain a traditional loan. He cited statistics that FHA insured almost 30 percent of single-family mortgages in 2009 and more than 50 percent of first-time buyer loans.

Regarding my own business, I know that two families I have helped so far this year would not have been able to purchase their homes if 5% down were mandated!

Since there are many homeowners thinking about getting their home on the market now it seems very timely to mention how small changes, while rather inexpensive, can make a huge difference in achieving both a faster sale and a higher sales price.

Luke Mullins, of U.S. News, recommends that sellers pay for a pre-listing home inspection.  This way the seller is armed with information to make any major repairs up front without surprises later from prospective buyers.  If a chimney needs some mortar or the roof is missing a shingle, a homeowner can take care of things for relatively low cost compared to what the buyer could request otherwise.  Many stagers and Realtors mention that fresh interior paint as well as fresh paint at the front door can make a difference between a buyer choosing one home over another despite similar pricing.

Curb appeal is the desirability of a home as a buyer drives past and this is key in a competitive selling environment.  Newly washed windows inside and out as well as trimmed bushes all contribute to that initial first impression of a home.  Some homeowners pay for these services but others are able to do them on a free weekend. 

Some homeowners have been able to enhance an otherwise somewhat dated kitchen by simply adding a new stainless steel stove.  As unlikely as it sounds, I have personally witnessed many a buyer overlook 15 year old cabinets when a new stove had been installed.

If you are trying to get your home ready for a sale and need help sorting through what to do, give me a call at 508-369-5131 or email franklinmahomes@comcast.net.  I'd be happy to share my expertise and get you on the right track!

 This beautifully renovated Cape is located in a highly desirable neighborhood.  Recent upgrades include cherry cabinets, granite countertops, renovated bathrooms, replacement windows, new furnace, new cedar siding and large mahogany deck.  Partially finished basement.  Asking price is $369,000.

This beautifully maintained Colonial is also located in another desirable Franklin neighborhood and is within walking distance to both elementary and middle school.  It features newer maple cabinets and stainless steel appliances, front to back fireplaced living room with hardwood floors, an attached cathedral ceiling family room and 4 spacious bedrooms.  Partially finished basement offers a playroom/office and second full bath.  Updates include new furnace and new bath.  Asking price is $399,900.

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

The Franklin Cultural Council is part of a network of 329 Local Cultural Councils serving all 351 cities and towns in the Commonwealth.  According to the Massachusetts' website, the local Cultural Council Program is the largest grassroots cultural funding network in the nation, supporting thousands of community-based projects in the arts, sciences and humanities every year.  The state legislature provides an annual appropriation to the Massachusetts Cultural Council, a state agency, which then allocates funds to each community.

The Franklin Cultural Council (FCC) recently reviewed proposals from various artists, schools and musicians offering programs in support of the arts, humanities, and interpretive science projects for the benefit of the Franklin community.  They just announced their grants totaling $9,020 were awarded to 24 projects that best provided a public benefit to Franklin residents including Concerts on the Common, Franklin 4^th of July Celebration, Symphonic Concert Band, Music for Young Children and many more.  Various awards fund the Franklin Schools through the PASS Program, which provides subsidies for school-age children to attend cultural field trips. The Town of Franklin continues to support enriching our community through the arts and generously contributed $2,000 to fund diverse projects. For a complete list of grants funded this year, please visit http://franklinma.virtualtownhall.net/Pages/FranklinMA_BComm/cultural.

For the first time, the Franklin Cultural Council will be to hosting a reception in honor of its 2010 grant award recipients at The Franklin Country Club on Sunday April 11^th from 2-4pm.  Light refreshments will be provided.  The Council explains that this is an opportunity for the 2010 recipients to get together, share their experiences and meet their fellow artists.  Franklin Town Administrator, Jeff Nutting, State Representative, Jim Vallee, and Massachusetts Cultural Council Program Coordinator, Tara Ahmed will be in attendance to welcome guests.

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...

For prospective home buyers, any increase in interest rates reduces your purchasing power. In other words, a 1% increase in rate represents an approximate decline in purchasing power by 10%. For example, if rates increase by 1%, people who qualify for a $200,000 purchase price today may only qualify for a purchase price of $180,000 afterwards.  For those who qualify for the tax credit for first-time and repeat home buyers, another deadline also exists. The last day to obtain a contract to qualify is April 30th and closing must occur by the end of June. Miss either deadline and  it could cost you up to $6,500 or $8,000, depending on eligibility.

No matter which way you look at it, waiting could cost you.  Mortgage rates are still near the best levels we have ever seen. If you are in the position to move forward with obtaining a mortgage, the best decision would be to act sooner rather than later.

If you need help getting ready to purchase your first home, give me a call now so you don't miss out on possibly $8000 of tax credit funds.  You can reach me at 508-369-5131 or franklinmahomes@comcast.net.

It's true.

Studies show that the longer a property stays on the market, the less the seller will net upon the sale. It is very important to price your property at a competitive market value at the signing of your listing contract. The market is so competitive that even over-pricing by a few thousand dollars could mean that your house will not sell.

An Overpriced Home:
· Minimizes offers
· Lowers agents response
· Limits qualified buyers
· Lowers showings
· Lowers prospects
· Limits financing
· Wastes advertising dollars
· Nets less for the seller

When you are ready, contact me today for a personal market value analysis of your home. No hassles or obligation - just honest advice on how to get top dollar for your home!

Here is this week's home...

This lovely 10 room, 4 bedroom, 2.5 bath Contemporary home is located on a 3/4 acre in a very desirable neighborhood in Franklin, MA. 

It offers a spacious 2054 living area and many updates have been done.  Among the many reasons why this is a BEST BUY is that it is in very good condition, it is located in a walk-to-school location and the asking price is $399,900.

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.

If you are trying to determine what your home would sell for in today's changing real estate market, give me a call and I can help--without any obligation...

Excessive moisture in basements can cause mold and mildew, poor indoor air quality, and even structural damage. The following measures will help you keep your lower level dry and comfortable, improve your overall indoor environment, and save money on unnecessary repair costs.

Outside

The most common source of excess moisture in basements is water leaking in from the outside. If you have water in your basement after a rain-or in the spring and fall-the first place to look is the area around your house. 

• Check the landscaping around your house. If the ground slopes inward toward your house, a pool of water can form where it can sink into the ground and enter through the foundation. If you spot a problem, add to or rearrange the dirt around your foundation so that it slopes away at an angle of one inch per foot. In some situations, the foundation may need to be sealed from outside or repaired. In these cases, contact a qualified contractor.
• Avoid using mulch around your foundation, as it holds water. Plant grass or ground cover near the house where it will draw water out of the soil.  Gravel or rocks around your house can also help to deflect moisture.
• Check gutters for leaks and make sure that they are cleaned regularly to avoid overspill. A leaky gutter can cause water to pool around your foundation in a heavy rain. If you spot a leak, have it repaired immediately. If you have older gutters, consider replacing them. Make sure that the downspouts direct water safely away from the house, at least five or six feet.
• Clean, tight-fitting metal window wells that are covered with gravel can help to seal out moisture. Clean out window wells that are covered with leaves and repair or replace damaged or loose-fitting window wells.

Inside

If the moisture in your basement is unrelated to the weather or seasonal changes, then the problem is likely due to an interior leak or condensation from excess moisture in the air.

• Check plumbing pipes and make sure that there are no leaks from the bathroom or kitchen up above. Have any leaks repaired immediately. Also consider insulating pipes, as cold water pipes may develop condensation on the surface.
• If you see condensation on the walls of your basement, consider covering them with a quality water-resistant paint.
• Avoid using your basement to dry clothes, as this can contribute to the humidity and moisture in the surrounding area. Use your clothes dryer or dry clothing outside when weather permits.
• Make sure that basement appliances, such as your clothes dryer, are properly vented.
• If you have a bathroom in your basement, install an exhaust fan to remove moisture and ensure that the area is properly vented.
• Use a dehumidifier. A dehumidifier is a useful tool for removing excess moisture in a basement area. Depending on the size and layout of your basement, you may need more than one unit.

If you need help getting ready to sell your home this spring, give me a call and we can review which small changes can get you the most from your sale.

To maximize your selling opportunity, it is important that your home be priced right. What is the right price? Many factors will determine your home's best asking price. Our current real estate market has a lot to do with it. Using sound judgment, research, and experience, a good agent can help you determine the right price for your home. She/he will help you evaluate your location, the recent sold data, current market trends, and your home's special features that set it apart from the competition.

"What's wrong with pricing my home a little high?" Price your home too high and most buyers won't even bother looking at it. Over priced homes tend to sell the competition first. This scares away many qualified buyers simply because they can go elsewhere and get more house for the money. As the house sits on the market, people will shy away from it thinking there must be something wrong with the home.

Should I under-price my home? Price it too low and you could lose thousands of dollars. There are times when you will attract multiple bidders making multiple offers, but this is only recommended when you need a faster-than-average sale.

In most circumstances, pricing your home correctly from the very beginning will net you the best results in both time and money. To find out your home's perfect selling price, contact me for a No Obligation Market Analysis. I will take the guesswork out the entire process and suggest an accurate market price for your home. It has never been easier!

                                                                                                                                  Light, bright and spacious Gambrel Cape sits on a beautiful wooded, private 2/3 acre lot.  This well maintained home features three bedrooms, 2 Italian tiled full baths, central air conditioning and a newer roof. 

The architect designed front entry foyer welcomes you into the fireplaces living room.  Upstairs you will find a large master bedroom plus a custom home office.   Asking $329,900.

Feel free to call to view this or other homes.  If you would like to know what your home would sell for, I would be happy to provide a no-obligation market analysis.  Just call 508-369-5131 or email franklinmahomes@comcast.net.

On a volume basis, the number of Massachusetts single-family homes rose 11.8 percent to 2,153 from 1,926 in January 2009; that was the fourth consecutive month of double-digit percentage increases, said the Warren Group.

Despite these positive statistics, there are concerns.  Most Realtors will tell you that recent buyer activity has been energized by the first time homebuyer tax credit and historically low mortgage rates.  As lenders begin to rumor that mortgage rates are expected to rise this week and stay elevated coupled with the tax credit expiring at the end of April, the fear is that the buying activity may drop off.  Homeowners have to some degree held back from putting their homes on the market due to beliefs that they will garner more money in the future.  This notion may be true in 5-10 years but no data suggests that prices will rise substantially in the immediate future.

Massachusetts Association of Realtors president Kevin Sears explains it this way.  "To get back to a more normal market we still need to see more homes for sale than we currently have. If not, prices will continue to go up to the point where it will impact sales and drive the market back down."

If you are thinking of selling and want to know what your home is worth, give me a call.  I will provide you a market analysis report that gives you a likely selling price based on comparable sales data.

• 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

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.

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?

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.