Flip Side - August Norfolk County RE Market Register O'Donnell Sees Positive Results for August Norfolk County Real Estate MarketReviewing the latest housing and financial data, Norfolk County Register of Deeds William P. O'Donnell believes there was some good news coming out of the Norfolk County real estate market for the month of August; which saw property transactions rise by nearly double digits."The total number of deeds recorded for the month of August increased 9% compared to August 2014. These numbers are confirmation of my strong belief that Norfolk County is a destination location for individuals and families to live and work. Reinforcing this belief is the 5% increase in total dollar volume of commercial and residential sales to $737 million," noted Register O'Donnell.O... 09/12/2015

Thinking of Buying a Home? Ask Yourself These 3 Questions!Real Estate with  Pat Baker Get in Touch Home   Thinking of Buying a Home? Ask Yourself These 3 Questions! Thursday September 10th, 2015 First Time Home Buyers, For Buyers, Interest Rates, Pricing Facebook Twitter LinkedIn Google+ Print If you are debating purchasing a home right now, you are surely getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in real estate. Let’s look at whether or not now is actually a good time for you to buy a home. There are 3 questions you should ask before purchasing in today’s market: 1. Why am I buying a home in the first place? This truly is the most important question to answer.... 09/10/2015

    NAR’S Latest Existing Home Sales Report [INFOGRAPHIC] Friday August 28th, 2015 For Buyers, For Sellers, Infographics, Pricing   Real Estate with  Pat Baker Get in Touch Home Facebook Twitter LinkedIn Google+ Print   Some Highlights: Existing Home Sales are up 10.3% year-over-year across the country. Sales rose to an annual rate of 5.59 million marking the 10th month in a row of year-over-year gains Prices are up 5.6% year-over-year in the U.S. to a median price of $234,000 Marked the 41st consecutive month of year-over year price gains. You might also enjoy reading... Home Prices Up in 93% of Measurable Markets [INFOGRAPHIC] Home Values: Where Are They Headed Over The Next 5 Years? Foreclosure Inventory Hits Lowest Mark in Over 7 Years [INFOGRAPHIC] What You Need to Know About the ... 08/28/2015

    Don’t Wait to Move Up to Your Dream Home! August 19, 2015 For Buyers, For Sellers, Interest Rates Real Estate with  Pat Baker   Get in Touch Home   Don’t Wait to Move Up to Your Dream Home! August 19, 2015 For Buyers, For Sellers, Interest Rates Facebook Twitter LinkedIn Google+ Print Now that the housing market has stabilized, more and more homeowners are considering moving up to their dream home. With interest rates still near 4% and home values on the rise, now may be a great time to make a move. Sellers should realize that waiting while mortgage rates are increasing probably doesn’t make sense. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain budget for your monthly housing costs. Here is a chart detailing this point: Wi... 08/19/2015

  Where Are Mortgage Rates Headed? This Fall? Next Year?Real Estate with  Pat Baker Get in Touch   Where Are Mortgage Rates Headed? This Fall? Next Year? August 10, 2015 Featured, 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 July 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 amount of the loan that you s... 08/10/2015

  Home Sales Will Remain Hot This Summer Real Estate with  Pat Baker Get in Touch   Home Sales Will Remain Hot This Summer July 22, 2015 For Buyers, For Sellers Facebook Twitter LinkedIn Google+ Print People always talk about the “spring buying season” when they talk real estate. However, this year it appears as though the summer real estate market will be just as hot. The most recent Foot Traffic Report released by the National Association of Realtors (NAR) revealed that there are more buyers out looking at homes right now than at any other time in the last two years including the past two springs (in orange below).   The Foot Traffic Report is compiled from data on the number of properties shown by Realtors. NAR further explains: “Foot traffic has a strong correlation with future cont... 07/22/2015

 Homeownership: A Key to Well-Being in Retirement Real Estate with  Pat Baker Get in Touch   Homeownership: A Key to Well-Being in Retirement July 15, 2015 For Buyers Facebook Twitter LinkedIn Google+ Print There has been much talk about homeownership and whether it is a true vehicle for building wealth. A new report looks at the impact owning a home has on the financial wellbeing of people closing in on their retirement years (ages 55-64). In recently released study by the Hamilton Project, Ten Economic Facts about Financial Well-Being in Retirement, it was revealed that: 1. Middle-class households near retirement age have about as much wealth in their homes as they do in their retirement accounts. “Over the past quarter century the largest single source of wealth for all but the riche... 07/15/2015

Needham MA New To Market $725000 Single-Family Needham, MA 02494$725,000  7 Rooms3 Beds  3 Baths Village Colonial being sold "as is." 105 foot frontage 12,793 square feet total. "Tear Down Option" Property and building to be to sold "as is". New kitchen on the first floor. Easy commute to Boston Route 95 & Route 9. Bus stop across the street. Contact the list agent for further details. Please give advance notice for showings after 12PM preferably. 07/14/2015

  What is a Housing Bubble? Is One Forming? Real Estate with  Pat Baker Get in Touch   What is a Housing Bubble? Is One Forming? July 7, 2015 For Buyers, For Sellers Facebook Twitter LinkedIn Google+ Print The recent talk of Greece and its financial challenges has some questioning whether the U.S. could also return to the crisis we experienced in 2008. Some are looking at the rise in real estate values and wondering whether we are in the middle of another housing price bubble. What actually is a price bubble? Here is the definition according to Jack M. Guttentag, Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania: “A price bubble is a rise in price based on the expectation that the price will rise. Sooner or later something happens to erode confidence ... 07/07/2015

  #1 Reason to Sell Your House Now! Real Estate with  Pat Baker Get in Touch   #1 Reason to Sell Your House Now! July 6, 2015 For Sellers Facebook Twitter LinkedIn Google+ Print If you are one of the many homeowners out there who are debating putting their house on the market this year, don’t miss out on the great opportunity you have right now! The latest Existing Home Sales Report from The National Association of Realtors (NAR), reveals that the inventory of homes for sale has dropped to a 5.1-month supply.     Historically, a 6-month supply is necessary for a ‘normal’ market, explained below: There are more buyers that are ready, willing and able to buy now, than there has been in years! The supply of homes for sale is not keeping up with the demand of these buyers. Bottom Line Home ... 07/06/2015

  Mixed Good News from Norfolk County Registry of Deeds‏   Prices are up but inventory still lagged in May 2015.    Both residential and commercial have an uptick in sale price.    There has been a 5% increase year over year.       Total volume of commercial and residential sales also showed an uptick, jumping 2% to $604.6 million."  Norfolk County Registry of Deeds   Register O'Donnell Reports May Brings Mixed Real Estate ResultsContinuing a theme seen over the past few months, Register of Deeds William P. O'Donnell reported that reduced inventory activity in Norfolk County has had a mixed effect on the real estate market during the month of May, 2015.Register O'Donnell noted, "What we have consistently seen throughout the late winter and spring months is a decrease of real estate inve... 06/10/2015

  The #1 Reason to Buy Right Now – THE MONEY!!Real Estate with  Pat Baker Get in Touch   The #1 Reason to Buy Right Now – THE MONEY!! June 4, 2015 First Time Home Buyers, For Buyers Facebook Twitter LinkedIn Google+ Print People often ask whether they should buy a home now or wait. Recently released data suggests that waiting may not make sense as prices seem to again be on the rise. Let’s take a look at some of the data and commentary on the subject:   Ed Stansfield, chief property economist at Capital Economics: “The current tightness of supply conditions would normally be consistent with much faster price growth. The continued steady growth in home sales that we expect this year will only add to this upward pressure on prices.” Case Shiller Home Price Index “The S&P/Case-Shiller U.S.... 06/04/2015

    5 Reasons You Shouldn’t For Sale By Owner Real Estate with  Pat Baker Get in Touch   5 Reasons You Shouldn’t For Sale By Owner June 2, 2015 For Sellers, FSBO's Facebook Twitter LinkedIn Google+ Print In today's market, with homes selling quickly and prices rising some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers. Here are five reasons: 1. There Are Too Many People to Negotiate With Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner: The buyer who wants the best deal possible The buyer’s agent who solely represents the best interest of the buyer The buyer’s at... 06/01/2015

  Real Estate with  Pat Baker Get in Touch   Buyer Demand Exceeds Housing Supply [INFOGRAPHIC] May 29, 2015 For Buyers, For Sellers, Infographics Facebook Twitter LinkedIn Google+ Print Some Highlights: Inventory Levels are still below the 6.0 month level necessary for a normal market Home Prices have experienced year-over-year gains for 38 straight months Home sold faster than any time since June 2013, in just 39 days Post navigation If You are Thinking of Selling, Now’s the Time 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. Specializing in home sales, buyer purchases, condominiums, 2nd home purchases,investment properties, and rentals Visit Website Get in Touch   ... 05/29/2015

  Real Estate with  Pat Baker Get in Touch   Homeownership as an Investment: The Role of Price Appreciation May 27, 2015 Housing Market Updates, Pricing Facebook Twitter LinkedIn Google+ Print We recently posted on the results from the latest Home Price Expectation Survey (HPES) showing where residential home prices are headed over the next five years. Today, we want to show you what the results of the report could mean to you.   A good portion of every family’s wealth comes from the equity in the home they live in. As the value of their home (an asset) increases so does their equity. Let’s look at a possible case scenario based on the latest HPES. Here is a chart showing the survey’s projections on annual appreciation over the next five years: We then looked at the five-year impact thi... 05/26/2015

  Real Estate with  Pat Baker Get in Touch   More Home Buyers Putting Less Down May 20, 2015 Down Payments, For Buyers Facebook Twitter LinkedIn Google+ Print A recent post by the National Association of Realtors (NAR) revealed that in the months of December 2014 through February 2015, there was an increase in the number of first-time buyers making a down payment of 6% or less as compared to last year: 2014: 61% of first time home buyers 2015: 66% of first time home buyers While the number of small down payments is lower than it was in 2009 when 77% of down payments were 6% or less, it does show the recent decisions by both Fannie Mae and Freddie Mac to offer 3% down payment options to certain buyers is impacting the market. FHFA Director Mel Watt recently explained why Freddie and Fann... 05/22/2015

    The Truth About Rising Prices & Family Wealth Real Estate with  Pat Baker Get in Touch   The Truth About Rising Prices & Family Wealth May 12, 2015 First Time Home Buyers, For Buyers Facebook Twitter LinkedIn Google+ Print The National Association of Realtors (NAR) recently released a report revealing that the growing wealth gap in this country has been impacted by the recent increases in real estate values coupled with the drop in homeownership rates. The report discloses: “Over 90 percent of metro areas have experienced declining homeownership rates at a time when home values have risen and incomes have remained flat.”   Increasing home values in many regions of the country have helped homeowners build housing wealth in recent years. However, the continued decline in homeownership... 05/12/2015

    Simplifying the Market™ Making Real Estate Easy to Understand Easy Chicken Little: Homeownership Rates Are NOT Crashing May 6 2015 The Census recently released their 2015 Q1 Homeownership Statistics, and many began to worry that Americans have taken a step back from the notion of homeownership. The national homeownership rate (Americans who owned vs. rented their primary residence) increased significantly during the housing boom, reaching its peak of 69.2% in 2004. The Census Bureau just reported the first quarter of 2015 ended with a homeownership rate of 63.7%. Many reported on this and began to question Americans’ belief in the ideal of homeownership as a major part of the American Dream. Everyone Calm Down… It is true the homeownership rate has fallen over the last several years... 05/06/2015

    Simplifying the Market™ Making Real Estate Easy to Understand Homeowners: We Need to Sell Your House Twice May 5 2015 Every house on the market has to be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). In a housing market where supply is very low and demand is very high, home values increase rapidly. One major challenge in such a market is that bank appraisal. If prices are jumping, it is difficult for appraisers to find adequate comparable sales (similar houses in the neighborhood that closed recently) to defend the price when doing the appraisal for the bank. With escalating prices, the second sale might be even more difficult than the first. And now, there may be a second issue further complicating the appraisal issue. The Mortgage New... 05/05/2015

    Simplifying the Market™ Making Real Estate Easy to Understand 5 Tech Questions that Seniors Should Ask When Interviewing a Real Estate Agent April 30 2015 We are pleased to have Nikki Buckelew back as our guest blogger for today’s post. Nikki has extensive experience working with seniors and is the Founder & CEO of the Senior Real Estate Institute. Enjoy!  If you have not bought or sold a home in a few years (or maybe decades) it is likely that there are more than a few new trends in real estate that you will encounter as you begin to interview real estate agents. One particular trend now common among many real estate brokerage firms is called the practice of "going paperless.” This can be a bit scary for some people, especially senior adults who are not accustomed to using computer... 04/30/2015