Thinking of Selling? Why Now May Be The Time Real Estate with  Pat Baker Get in Touch Home  Language   Thinking of Selling? Why Now May Be The Time Thursday January 28th, 2016 For Sellers Facebook Twitter LinkedIn Google+ Print It is common knowledge that a large number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their home on the market until then. The question is whether or not that will be a good strategy this year. The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring, as compared to the rest of the year? The National Association of Realtors (NAR) recently revealed which months most people listed their home ... 01/28/2016

What Do You Actually Need to Get a Mortgage? Thursday January 21st, 2016 Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers   Real Estate with  Pat Baker Get in Touch Home  Language What Do You Actually Need to Get a Mortgage? Thursday January 21st, 2016 Down Payments, First Time Home Buyers, For Buyers, Move-Up Buyers Facebook Twitter LinkedIn Google+ Print Fannie Mae recently released their “What do consumers know about the Mortgage Qualification Criteria?” Study. The study revealed that Americans are misinformed about what is required to qualify for a mortgage when purchasing a home. Here are three takeaways:   59% of Americans either don’t know (54%) or are misinformed (5%) about what FICO score is necessary 86% of Americans either don’t know (59%) or are misinformed... 01/21/2016

Are You Wondering What It Takes To Buy Your First Home? Tuesday January 19th, 2016 First Time Home Buyers, For Buyers, Millennials   Real Estate with  Pat Baker Get in Touch Home  Language Are You Wondering What It Takes To Buy Your First Home? Tuesday January 19th, 2016 First Time Home Buyers, For Buyers, Millennials Facebook Twitter LinkedIn Google+ Print There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they are married and have a family. Others may think they are too young. And still others might think their current income would never enable them to qualify for a mortgage.   We want to share what the typical first time homebuyer actually looks like bas... 01/19/2016

Top Reason to List Your House For Sale Now!   Real Estate with  Pat Baker Get in Touch Home  Language   Top Reason to List Your House For Sale Now! Monday January 4th, 2016 For Sellers, Housing Market Updates Facebook Twitter LinkedIn Google+ Print If you are debating listing your house for sale this year, here is the #1 reason not to wait!   Buyer Demand Continues to Outpace the Supply of Homes For Sale The National Association of REALTORS’ (NAR) Chief Economist, Lawrence Yun recently commented on the inventory shortage: “While feedback from REALTORS® continues to suggest healthy levels of buyer interest, available listings that are move-in ready and in affordable price ranges remain hard to come by for many would-be buyers.” The latest Existing Home Sales Report shows that there is c... 01/04/2016

Thinking of Selling Your Home? Get Ready to Negotiate!   Real Estate with  Pat Baker Get in Touch Home  Language   Thinking of Selling Your Home? Get Ready to Negotiate! Tuesday December 29th, 2015 For Sellers, FSBO's Facebook Twitter LinkedIn Google+ Print Now that the market has showed signs of recovery, some sellers may be tempted to try and sell their home on their own (FSBO) without using the services of a real estate professional.   Real estate agents are trained and experienced in negotiation. In most cases, the seller is not. The seller must realize their ability to negotiate will determine whether they can get the best deal for themselves and their family. Here is a list of some of the people with whom the seller must be prepared to negotiate if they decide to FSBO: The buyer ... 12/29/2015

How Long Does It Take To Save A Down Payment?   Real Estate with  Pat Baker Get in Touch Home  Language   How Long Does It Take To Save A Down Payment? Wednesday December 16th, 2015 Down Payments, First Time Home Buyers, For Buyers Facebook Twitter LinkedIn Google+ Print In a recent study conducted by Builder.com, researchers determined that nationwide it would take “nearly eight years” for a first-time buyer to save enough for a down payment on their dream home. Depending on where you live, median rents, incomes and home prices all vary. By determining the percentage a renter spends on housing in each state and the amount needed for a 10% down payment, they were able to establish how long (in years) it would take for an average resident to save. According to the study, residents in So... 12/15/2015

You Will Need to Sell Your Home Twice   Real Estate with  Pat Baker Get in Touch Home  Language   You Will Need to Sell Your Home Twice Thursday December 10th, 2015 For Sellers, Pricing Facebook Twitter LinkedIn Google+ Print A recent post on “The Home Story”, a site published by Fannie Mae, explained the difference between the price a seller may get for their home and the value an appraiser might assign the property.   The Sales Price Of course, most sellers want to maximize the value they get for the house. However, the price they set might not be reflective of the other comparable homes in the neighborhood. As the article stated: “People tend to view their homes emotionally, and that can become quickly apparent when they decide to sell.” That doesn’t mean that the home won’t necessa... 12/10/2015

How to Get the Most Money from the Sale of Your House Wednesday November 18th, 2015 For Sellers, Pricing   Real Estate with  Pat Baker Get in Touch Home  Language   Facebook Twitter LinkedIn Google+ Print Every homeowner wants to make sure they maximize the financial reward when selling their home. But, how do you guarantee that you receive maximum value for your house? Here are two keys to insuring you get the highest price possible.   1. Price it a LITTLE LOW This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your house. (see chart) Instead of the seller trying to ‘win’ the negotiation... 11/18/2015

Why You Should Sell Now… Before Winter Hits Monday November 16th, 2015 For Sellers, Move-Up Buyers Real Estate with  Pat Baker Get in Touch Home  Language   Facebook Twitter LinkedIn Google+ Print People across the country are beginning to think about what their life will look like next year. It happens every Fall. We ponder whether we should relocate to a different part of the country to find better year-round weather or perhaps move across the state for better job opportunities. Homeowners in this situation must consider whether they should sell their house now or wait. If you are one of these potential sellers, here are five important reasons to do it now versus the dead of winter.   1. Demand is Strong Foot traffic refers to the number of people out actually physically looking at h... 11/16/2015

Homeownership Builds Wealth and Offers Stability Tuesday November 10th, 2015 Down Payments, For Buyers   Real Estate with  Pat Baker Get in Touch Home  Language   Homeownership Builds Wealth and Offers Stability Tuesday November 10th, 2015 Down Payments, For Buyers Facebook Twitter LinkedIn Google+ Print The most recent Housing Pulse Survey released by the National Association of Realtors revealed that the two major reasons Americans prefer owning their own home instead of renting are:   They want the opportunity to build equity. They want a stable and safe environment. Building Equity In a recent article, John Taylor, CEO of the National Community Reinvestment Coalition, explained that those who lack the opportunity to become homeowners have a weakened ability to reinvest their wealth... 11/11/2015

Where Are Mortgage Rates Headed? This Winter? Next Year?   Real Estate with  Pat Baker Get in Touch Home  Language   Where Are Mortgage Rates Headed? This Winter? Next Year? Monday November 9th, 2015 For Buyers, Interest Rates Facebook Twitter LinkedIn Google+ Print The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to look at where rates are headed when deciding to buy now or wait until next year. Below is a chart created using Freddie Mac’s October 2015 U.S. Economic & Housing Marketing Outlook. As you can see interest rates are projected to increase steadily over the course of the next 12 months. How Will This Impact Your Mortgage Payment? Depending on the amoun... 11/09/2015

Cut Costs Composting Posted by Pat Baker on 11/6/2015 Composting is becoming a more and more popular way to save money and be more eco-friendly. There are many reasons to compost but some of the most enticing are it costs next to nothing, and if you're a gardener or have any landscaping at all, your compost pile will save you money. Compost can be used instead of expensive fertilizer and because you are reusing your yard waste you might be able to save on municipal trash removal costs. Here are some easy tips on how to get started composting: Storage You may decide to go with either an open or closed storage system. Containers keep the compost materials neat and tidy and can be built inexpensively from discarded shipping pallets, fencing or chicken wire or leftover treated lumber from ... 11/05/2015

Real Estate with  Pat Baker Get in Touch Home  Language   Homeownership is Still a Huge Part of the “American Dream” Monday November 2nd, 2015 First Time Home Buyers, For Buyers Facebook Twitter LinkedIn Google+ Print There have been some who have voiced doubt as to whether or not the younger generations still consider buying a home as being part of the “American Dream”. A study by Merrill Lynch puts that doubt to rest.   According to their research, every living generation still maintains that owning a home is in fact important. Here are the numbers: This should not surprise us as many studies have revealed the benefits enjoyed by the families who own their own home. One such study was done by the Joint Center of Housing Studies at Harvard University that addressed a major financial b... 11/01/2015

The Difference An Hour Can Make [INFOGRAPHIC]   Real Estate with  Pat Baker Get in Touch Home  Language   Friday October 30th, 2015 For Buyers, For Sellers, Infographics Facebook Twitter LinkedIn Google+ Print Every Hour in the US Housing Market:  634 Homes Sell 347 Homes Regain Positive Equity Median Home Values Go Up $1.46 You might also enjoy reading... Equity Report [INFOGRAPHIC] NAR’S Latest Existing Home Sales Report [INFOGRAPHIC] Economic Impact of Every Home Sold [INFOGRAPHIC] Buying A Home Can Be SCARY… Until You Know The FACTS! [INFOGRAPHIC] Post navigation Picking a Real Estate Agent through Facebook Pat Baker     Key Advantage Realty Needham, MA (617) 435-3471 Experienced real estate agent intimately acquainted with the Needham, MA and the MetroWest area of Boston, MA. Spec... 10/29/2015

Why You Should Hire A Professional When Buying A Home! Tuesday October 27th, 2015 First Time Home Buyers, For Buyers, Move-Up Buyers Real Estate with  Pat Baker Get in Touch Home  Language   Why You Should Hire A Professional When Buying A Home! Tuesday October 27th, 2015 First Time Home Buyers, For Buyers, Move-Up Buyers Facebook Twitter LinkedIn Google+ Print Many people wonder whether they should hire a real estate professional to assist them in buying their dream home or if they should first try to go it on their own. In today’s market: you need an experienced professional!   You Need an Expert Guide if you are Traveling a Dangerous Path The field of real estate is loaded with land mines. You need a true expert to guide you through the dangerous pitfalls that currently exist. Findi... 10/27/2015

Home Equity: You May Have More Than You Think Wednesday October 7th, 2015 For Sellers, Move-Up Buyers   Real Estate with  Pat Baker Get in Touch Home  Language   Home Equity: You May Have More Than You Think Wednesday October 7th, 2015 For Sellers, Move-Up Buyers Facebook Twitter LinkedIn Google+ Print CoreLogic recently released their 2015 2nd Quarter Equity Report which revealed that 759,000 properties had regained equity in the last quarter. That means that 91% of all mortgaged properties (approximately 45.9 million) are now in a positive equity position. Anand Nallathambi, president and CEO of CoreLogic, reported:   “For much of the country, the negative equity epidemic is lifting. The biggest reason for this improvement has been the relentless rise in home prices over the past thr... 10/26/2015

Applying For A Mortgage: Why So Much Paperwork? Real Estate with  Pat Baker Get in Touch Home  Language     Tuesday October 20th, 2015 First Time Home Buyers, For Buyers, Interest Rates Facebook Twitter LinkedIn Google+ Print We are often asked why there is so much paperwork mandated by the bank for a mortgage loan application when buying a home today. It seems that the bank needs to know everything about us and requires three separate sources to validate each and every entry on the application form.   Many buyers are being told by friends and family that the process was a hundred times easier when they bought their home ten to twenty years ago. There are two very good reasons that the loan process is much more onerous on today’s buyer than perhaps any time in history. The government h... 10/22/2015

Where Will Home Prices Be Next Year? [INFOGRAPHIC] Real Estate with  Pat Baker   Where Will Home Prices Be Next Year? [INFOGRAPHIC] Friday October 16th, 2015 For Buyers, For Sellers, Infographics, Pricing Facebook Twitter LinkedIn Google+ Print Some interesting facts: 25 states are forecasted to achieve higher levels of appreciation in the next 12 months than already achieved in the last year. 25 state and the District of Columbia are forecasted to experience a slow in appreciation. All 50 states & D.C. are forecasted to achieve some level of positive price appreciation. Even though each state is appreciating at different levels, you need to know the Cost of Waiting until next year to buy your dream home! You might also enjoy reading... NAR’S Latest Existing Home Sales Report [INFOGRAP... 10/16/2015

Is it Time to Downsize your Home?   Real Estate with  Pat Baker Get in Touch Home  Language   Is it Time to Downsize your Home? Thursday October 1st, 2015 For Sellers, Move-Up Buyers Facebook Twitter LinkedIn Google+ Print A recent study by Edelman Berland revealed that of homeowners who are contemplating selling their house in the near future 33% plan to scale down. Let’s look at a few reasons why that would make sense to many Americans. In a recent blog post, Dave Ramsey, the financial guru, discussed the advantages of selling your current house and downsizing into a smaller home that better serves your current needs. Ramsey explains three potential financial advantages to downsizing: A smaller home means less space, but it also means less time, stress and money spent on upkeep Let’s... 10/01/2015

 Credit Score Requirements LOWER As Interest Rates CREEP UP! [INFOGRAPHIC] Friday September 18th, 2015 For Buyers, Infographics, Interest Rates Facebook Twitter LinkedIn Google+ Print   Real Estate with  Pat Baker Get in Touch Home     Some Highlights: The average 30-year rate for all loans closed in August eclipsed 4.3% for the first time since October 2014. The average FICO score for all closed loans in August reached a new yearly low at 724 (the lowest since February 2014!) The average down payment of FHA loans closed was just 4%! You might also enjoy reading... Where will Mortgage Rates be Headed in 2015? Mortgage Rates Over The Last 40 Years [INFOGRAPHIC] Do I Need Perfect Credit to Buy a Home? [INFOGRAPHIC] Cost Across Time [INFOGRAPHIC] Post navigation Fannie Mae Introduces Home ... 09/19/2015