Worcester, MA Real Estate News

By Pat McQuaid, eXp Realty
(McQuaid Real Estate Services at eXp Realty)
Welcome to Your Worcester County Massachusetts Short Sale Site. Your Site for Real Estate Help, Answers & Action!      FAQ's What is a Short Sale?In the world of Real Estate, a short sale refers to the sale of real property for an amount less than the amount owed on the property. In the short sale scenario, the bank agrees to accept less than the full balance due on the debt, and usually ‘forgives' all or a large portion of the difference.   How will the Short Sale affect my credit?Short Sales are still a relatively new concept. Banks have the option of submitting the short sale to the credit bureau as "Paid in Full" or "Settled for less than full balance". As far as your credit score is concerned, there is no evidence whatsoever to support that a short sale will lower your credit score...
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Mortgage Buddy Mid-Week Commentary Interest rates may have ticked up a sliver today, but for the past 5 weeks the markets have been trending downward. We are coming off of the worst May in a couple of years but as I keep saying we have to find a positive with everything, and the positive here is that rates are at their lowest point this year. REFINANCE NOW IF YOU HAVEN'T ALREADY For those who read my posts you know I'm a mortgage geek and a CNBC junkie. I'm constantly reading and listening to commentary from technical traders, hedge fund managers, and those who have made more money this year than I will in the next 5. There seems to be a general agreement that global growth has slowed dramatically. We have seen it very clearly this week with our manufacturing data and tomorrow we may se...
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By John Saari, "The Mortgage Buddy"
I have decided to once a week use my "Mortgage Buddy" blog as a platform to post information about a local charity event in Mass. As hopefully my posts begin to reach more and more referral partners and potential clients I think its important to use the "popularity" in a positive way. In other words use the Internet power of the mortgage buddy for good. It sounds a little cheesy but hopefully you get the point. This week's post is for the AIDS Walk Boston on Sunday June 5th 1 in 300 Americans is Living with HIV Event Information Every year since 1986 our community has gathered on the first Sunday in June for AIDS Walk Boston, an annual grassroots community event benefiting AIDS Action Committee of Massachusetts, New England's largest and oldest AIDS service organization. For twenty-fiv...
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By Pat McQuaid, eXp Realty
(McQuaid Real Estate Services at eXp Realty)
Thinking of becoming a "For Sale By Owner" in Worcester County Massachusetts? Before you decide to become a FSBO ( for sale by owner), consider the extra time and money involved. Remember, Real Estate Agents perform many tasks, the scope of which you may not realize and all of which you would have to complete solo if you sold on your own. Some you actually do not have the ability to do at all. Tasks that real estate agents may do for sellers include:   •Creating a comparative market analysis of homes in your area to determine the correct pricing for your home compared with the competition. •Uploading your home's information into the Multiple Listing Service, a database of homes on the market that can only be accessed by licensed real estate professionals. •Coordinating all the necessary...
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By Jane Becker, CRS,ASP,ABR,CBR,CDPE,LMC,E-PRO,GRI
(Keller Williams Home Team AdvantEdge )
365 things to do in Worcester County - Fill a cavity at the Dentist in Worcester.  I love my dentist.  Dr. Pollock is thorough and has a great bed side manor.  Several years ago, I remember, on my first visit, Dr. Pollock examined my throat.  When asked why, he replied that the physical given by the primary doctor does not go past the neck and dentists don't typically go beyond the teeth.  So he feels it's his duty not to miss one area most often overlooked.  Well, I was impressed.   Today, am coming in for a Cavity.  I told him that my daughter was very surprised that I can have a cavity at my age.  He told me that cavities happen at any age.  He explained that Cavities are holes, or structural damage, in the teeth.  My appointment for for 2:30 and although I waited in the lobby for a ...
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The Mortgage Buddy's rate outlook for the week. Last week saw another round of soft economic data. It seems clear that the global economy is seeing a bit of a soft patch. The effects of the stimulus money is starting to fade out, Japan's earth quake economic shock waves are finally being felt, and the European debt crisis is starting to re-surface again. We are also running into the typical seasonal slow down in the stock market. The big fish usually "sell in May and go away". Many experts think this is just a soft patch and once we get our debt ceiling issues squared away we will back into the bull market, but for now we have had a very slow month of May. The silver lining of course in all of this is lower interest rates. Many investors have put their money into bonds as a way to take ...
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By Jane Becker, CRS,ASP,ABR,CBR,CDPE,LMC,E-PRO,GRI
(Keller Williams Home Team AdvantEdge )
365 things to do in Worcester County - Treat your date to Peppercorn's in Worcester.  Gourmet (pronounced /ɡɔrˈmeɪ/) is a cultural ideal associated with the culinary arts of fine food and drink, or haute cuisine, which is characterized by elaborate preparations and presentations of large meals of small, often quite rich courses. That is the definition of Gourmet in Wikipedia.  And that is my reaction after having a fine meal at Peppercorn's.  Located at 455 Park Ave in Worcester, Peppercorn's is very close to my work and I have passed the big red sign numerous times.  So when my husband asked me to pick a place for our ";date";, I remembered all the good feedback I heard about the restaurant.   The Dining room was dimly lit for my taste, or perhaps we finally got a sunny day so my eyes ...
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By John Saari, "The Mortgage Buddy"
Today's Mortgage Buddy Market Update This morning featured the release of some mixed housing data. Let's take a quick review of what was released and what it means. 7AM MBA Mortgage Application Report: By definition the Mortgage Bankers' Association compiles various mortgage loan indexes. The purchase applications index measures applications at mortgage lenders. This is a leading indicator for single-family home sales and housing construction. Here is the information from the release The volume of mortgage applications for home purchases rose 1.5 percent in the May 20 week, partially reversing the prior week's 3.2 percent decline. Purchase applications jumped 6.7 percent in the first week of May, a month that so far looks to show a gain compared with April in what would be good news for...
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By John Saari, "The Mortgage Buddy"
Today's Mortgage Buddy Update I wanted to borrower a couple of minutes of everyones' time and update you on some housing market data that was released today as well as some stock market news. The Commerce Department said sales increased 7.3 percent to a seasonally adjusted 323,000 unit annual rate, the highest level since December, from a slightly upwardly revised 301,000-unit pace in March. These numbers were a surprise over expectations and it showed an increase in every region over the last report but it was down 23% over last year. The silver lining in this report is that we are starting to work through the inventory of these new homes, and we need less homes on the market so we can make dent in this market. The stock market continues to trend downwards on European pressures and the...
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By Jane Becker, CRS,ASP,ABR,CBR,CDPE,LMC,E-PRO,GRI
(Keller Williams Home Team AdvantEdge )
365 things to do in Worcester County - visit Albanian festival in Worcester.  There is nothing more fun than a festival.  I really enjoy festivals from different cultures.  Growing up in Waterbury, CT, we had Italian Festival and it was a treat.  Here in Worcester we will once again welcome Albanian Festival on: Friday, June 3rd | 5pm - 11pm Saturday, June 4th | 11am - 11pm Sunday, June 5th | 12pm - 7pm     As a celebration of Albanian culture and tradition, St. Mary's Albanian Orthodox Church in Worcester, MA, is hosting one of the biggest Albanian festival in the country.  If you enjoy great food, silent auction, international music, dancing and much much more, you can make this one of your 365 things to do in Worcester County - visit Albanian festival in Worcester
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Below is "The Morgage Buddy" rate outlook for the week. I don't have a crystal ball. I use economic data and market trends to hopefully give some educated insight into the potential dirction of the market and mortgage rates. This week's mortgage market environment looks to interesting to say the least. We have been having a string of week economic data reports the past few weeks and it's showing in the bond market with increased buying and now the stock market is starting to pull back as well. There are numerous economic data points with the potential to weigh on mortgage rates. Tuesday at 10am-New Home Sales: New home sales measure the number of newly constructed homes with a committed sale during the month. The level of new home sales indicates housing market trends and, in turn, econ...
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By John Saari, "The Mortgage Buddy"
  It was another roller coaster week in the stock market ending with a considerable sell off in Friday and increased market volatility. The market has been in a tight trading range the past few weeks with a S&P range of 1,320ish to 1,370 ish. There seems to be some major resistance around 1,350 and every time we get near there we sell off. If we break below 1,325 this week and hold there we could see a considerable pull back. I have been saying we are due for a correction or pull back for a couple of months now, but it has yet to come. This Past Weeks's Market Moving News: Manhattan grand jury has indicted a Frenchman, former managing director of the International Monetary Fund, Dominique Strauss-Kahn, on charges related to the sexual assault of a maid at a midtown hotel last Saturday ...
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By Jane Becker, CRS,ASP,ABR,CBR,CDPE,LMC,E-PRO,GRI
(Keller Williams Home Team AdvantEdge )
365 things to do in Worcester County - Enjoy a 100+ member Chorus in Worcester.  A good friend of mine and a local Realtor, Erika Hall invited me to listen to the Worcester Chorus on Friday, June 3rd!  The festivities take place at the First Unitarian Church and the concert promises to be a lot of fun.  Erika tells me that there will be folk music and international songs, both in English and in Spanish. To close the choral concert season, the 100 + voices of The Worcester Chorus ring out in a remarkable offering celebrating that great constellation of stars visible from the southern hemisphere.  Works from that half of the globe will be performed - music from South Africa, Argentina and Australia.  Included will be several American premieres of Australian choral works and  new works com...
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By Jane Becker, CRS,ASP,ABR,CBR,CDPE,LMC,E-PRO,GRI
(Keller Williams Home Team AdvantEdge )
365 things to do in Worcester County - see local artist, M.P. Raymond at Hanover in Worcester.  If you are into art and artists like me, you will be thrilled to find out that Hanover in Worcester is exhibiting a local artist, M.P. Raymond.  The exhibit is open to the public Tuesdays through Saturdays, starting March 9, 2011 and ending June 21, 2011.  Hours are 1:00PM to 4:00PM and it is absolutely free to the public.   "A Quiet Narrative, Paintings by M.P. Raymond" Hanover Theatre for the Performing Arts Salon Gallery 2 Southbridge St. Worcester, MA 01608 A little information about the artist:   MP Raymond is a self taught artist who specializes in realism. He is a native of Central Massachusetts and currently resides in Southbridge, Ma. He is a multi award winning and international art...
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By Pat McQuaid, eXp Realty
(McQuaid Real Estate Services at eXp Realty)
  The Right Selling Price Affects Your Bottom Line When you're selling your home, the price you set is a critical factor in the return you'll receive. That's why you need a professional evaluation from an experienced realtor. This person can provide you with an honest assessment of your home, based on several factors including: Market conditions Condition of your home Repairs or improvements Time frame In real estate terms, market value is the price at which a particular house, in its current condition, will sell within 30 to 90 days. If the price of your home is too high, several things could happen: Limits buyers. Potential buyers may not view your home, because it would be out of their buying range. Limits showings. Other salespeople may be less reluctant to view your home. Used as ...
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By John Saari, "The Mortgage Buddy"
Today was a wild day in the stock market, especially for those who follow it closely on a daily basis. We started off negative and then really dipped in late morning and it looked as if the technical levels were going to break down. I sold some June expiration calls I had on the VIX and then bought some calls for Hewlett Packard and Intel at the lows for the day. This down turn is leading some to question whether this is just a minor correction or something more serious. We have already had many more down days in May than we have had the whole month of April. So why the down days ?: European debt issues causing currency swings back and forth A major sell of in commodity prices including oil,silver,and gold Mixed economic data like today's lower than expected industrial production and h...
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Mortgage rates continue to remain under pressure last week falling the lowest levels of 2011. Fantastic timing for the Spring Real Estate Market. The overall market was down about .5% and some choppy trading and this week looks to bring some increased volatility to trading. We have had such a big run up in the market over the last 2 years that it seems we are finally running out of steam or at least slowing down in the face of some strong head winds. Looking at the economic calendar for the week, there is a big chunk of housing related data on tap. Tuesday 830AM- Housing starts- A housing start is registered at the start of construction of a new building intended primarily as a residential building. The start of construction is defined as the beginning of excavation of the foundation f...
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By Jane Becker, CRS,ASP,ABR,CBR,CDPE,LMC,E-PRO,GRI
(Keller Williams Home Team AdvantEdge )
365 things to do in Worcester County - Learn about Blepharitis and eye care from Dr. Eisenberg of Worcester.  On my visit to my eye doctor's, I learned about Blepharitis.  It's more common than you think.  Blepharitis or eyelid margin disease, is a common and persistent inflammation of the eyelids.  This condition frequently occurs in people who have a tendency toward oily skin, dandruff or dry eyes.  With blepharitis, both the upper and lower eyelids become coated with oily particles and bacteria near the base of the eyelashes.   Symptoms include: Eye and eyelid irritation itchiness of the eye redness of the eye burning sensation   Blepharitis is often a chronic condition but it can be controlled with the following treatment: Warm compress.  eyelid scrubs, antibiotic ointment, eye drop...
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By Jane Becker, CRS,ASP,ABR,CBR,CDPE,LMC,E-PRO,GRI
(Keller Williams Home Team AdvantEdge )
365 things to do in Worcester County - Give back to the community in Worcester.  Today is "RED DAY".  This is the day that all Keller Williams offices, nationwide, close down while the agents, owners and employees go out into community and give back.  My office has chosen to help out at YOU INC.  this year.  YOU INC.  is a phenomenal organization that assists troubled children from age 7 through teens by providing housing and counseling.  "Y.O.U., Inc. offers a comprehensive continuum of human services to more than 8,000 children, adolescents, and families each year in Central Massachusetts. We have five distinct service areas: Community-Based Services, Educational and Vocational Schools, Family Centers containing Licensed Mental Health and Substance Abuse Clinics, Residential Out of Ho...
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By John Saari, "The Mortgage Buddy"
We are having a busy week of activity in the real estate industry, the stock markets, and the mortgage world. Tomorrow Ben Bernake is going to be going in front of Congress with some new testimony. According to reports he is going to be discussing and recommending even more regulations on the banking industry. My hope is that this is not going effect the mortgage industry too bad, but I'm sure it can't be that positive. Today we had a huge sell off in commodity prices across he board. Oil, silver, and gasoline prices where dramatically down on the day, leading many to believe that the market is set for a larger pullback/correction. The reasons for the sell off are the worries about European debt obligations, and a global slow down in demand due to a slowing recovery period. Also today C...
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