North Attleboro New & Events

Archive for March, 2011

Cinderella Swap Near Attleboro

Every girl deserves to feel like Cinderella, right?

The Cutting Edge Salon and Spa is hosting their 2nd Annual Cinderella Swap which is a great place to find beautiful prom dresses.

If you have a prom dress that is just sitting in your attic collecting dust, bring it out, clean it up and donate it to the Cinderella Swap! There’s nothing better than regifting something that once made you feel beautiful.

The rules:
• Dresses should be in style (all sizes and colors welcome).
• Dresses should be in excellent condition.
• Dresses, preferably, cleaned prior to donation.
• Dresses should be tea length or full length and age appropriate.

Families can also drop off dresses at The Cutting Edge Salon & Spa, 778 S. Main St (Rt. 152), Attleboro, MA, through April, from Tuesday-Thursday 8am-9pm; Friday 8am-6pm, and Saturday 8am-3pm (closed Sundays and Mondays).

Families interested in acquiring a dress can make an appointment at Cutting Edge. Call 508-222-5592 to schedule your appointment, which will take place in a private setting during non-business hours.

Will You Get More Money if You Wait?

The KCM Group posted a great article about home values and whether or not you wil lmake more if you wait. Have a great read!

Sellers in any real estate market are looking to get the best possible price. If you are looking to sell in the next year, today’s price may well be the best price. Home values stabilized somewhat in 2010. Many hoped that was a sign that values had bottomed out and we would see price appreciation in 2011. Studies released have painted a different picture.

If we look at CoreLogics January Home Price Index (HPI), we see that prices are again beginning to decline:

National home prices, including distressed sales, declined by 5.7 percent in January 2011 compared to January 2010

Mark Fleming, chief economist with CoreLogic, said, “A number of factors continue to dampen any recovery in the housing market. Negative equity, which limits the mobility of homeowners, weak demand and the overhang of shadow inventory all continue to exert downward pressure on housing prices. We are looking out for renewed demand in the coming months as the spring buying season gets underway to hopefully reduce the downward pressure.”

They are not talking about the spring market increasing or even stabilizing prices. They hope it will “reduce” the pressure to drive prices lower.

Radar Logic’s RPX Composite Price comes to virtually the same conclusion:

Radar Logic believes the RPX Composite price will continue to exhibit year-on-year declines throughout 2011 due to a growing supply of homes for sale and in the inventories of financial institutions, and weakening demand due to the reduction of government incentives for home buyers. Moreover, banks are facing uncertainty over whether they will be forced by regulators to expand mortgage modifications, and may reduce lending and tighten standards as a result.

“No matter what you call it, a ‘double dip’ or the continuation of a long process of deterioration, the current trend in home prices is evidence that housing markets are continuing to languish,” said Quinn Eddins, Director of Research at Radar Logic. “We expect the negative trend to continue under a severe supply overhang that includes a large and growing ‘shadow inventory’ of homes in default or foreclosure.”

Bottom Line

It seems that prices have again begun to fall nationally. With the overhang of existing and shadow inventory, prices will probably continue to decline throughout most of 2011. If you’re thinking of selling, now might be the best time. Check with a local real estate professional to see how this might impact your area.

5 Quick Real Estate Tips for April

1. Be Ready for the Pre-appointment Appointment
In order to best take advantage of the opportunities this year will bring, make sure you are ready to speak real estate at any moment. Whether it is at the food store, the movies, or at your child’s ball game, people are again talking about real estate. Be prepared to intelligently articulate answers to the questions that come up. Ensure this by being very mobile with your information (smart phones, iPads, or tablets).

2. Understand the Advantages of Owning Over Renting
We sell real estate for a living. We must be prepared to be an evangelist for homeownership. Know that owning is less expensive than renting in 72% of the country. Be able to explain all the financial benefits of owning a home and learn the non-financial reasons people buy a home.

3. Know That Today’s Mortgage Opportunities Will Never Exist Again
Today, a buyer can purchase a home with a 5% interest rate guaranteed for 30 years. These low rates will disappear as the economy improves. If the lending reform that many are calling for happens, there is a chance that the 30 year mortgage will also disappear. For more on this point, click here.

4. Realize the Wealthy Are Back in the Market
In 2010, sales of homes under $1 million were down 2.8% from the previous year. Yet, home sales of properties priced over $1 million were up 18.6%. That means that the people who best understand the principle “cost vs. price” best think now is the time to buy real estate.

5. Don’t Forget It’s Still About “Supply and Demand”
There will be a steady supply of buyers purchasing homes this spring. Houses will sell; many houses. Don’t allow this increase in demand to fool you or your homeowners. Home prices will not appreciate on increased demand alone. Price is determined by the ratio between supply and demand. Make sure you know the month’s supply of inventory available for each category of house you have listed. Only then can you give great counsel on pricing.

We Think We’re Going to Believe Grandpa

There are those currently debating the financial advantages of owning a home. Some are looking at studies and reporting that homeownership has never really been a great investment.

One of these people is Jack C. Francis, a former Federal Reserve economist and professor at Baruch College. He said in a recent CNBC article:

“For generations, parents and grandparents have been telling us that the way to get ahead was to buy a house and keep making payments with a fixed interest rate and after 20 or 30 years it would be way up in value and that was your nest egg in old age. You could either live in it rent free or sell it and use the proceeds to rent an apartment.”

The article goes on to explain the rest of Mr. Francis’ comment:  

That was good advice until 2006 when home prices collapsed, he says, and it “may become good advice 10 years from now, but right now it’s not.”

Mr. Francis bases his conclusions on a study he completed which covered the years 1978 through 2008. In his study it showed that home prices increased annually by 5.7% and that the S&P 500 increased by 10.8%. Based on this information, Mr. Francis gives the following advice:

To students who come to him for guidance on whether to buy or rent in the near term, however, Francis has one word of advice: wait. “I keep telling them this is not the time to buy,” he says.

Let’s take a closer look at this conclusion.

1. We have our own study.

Mr. Francis did a study over a thirty year period which did not include the last 3 years. If we look at the same categories since January 2000 (covering one of the worst decades in American real estate history), we find that home values GAINED 42% while the S&P LOST 4.7%. It all depends on which set of data you choose to use.

2. The proper comparison is rent vs. buy.

All of these comparisons claim that putting your money into a different investment vehicle other than real estate might make sense. What they are not taking into consideration is that the investor will still have a housing expense. They will still need money for shelter. They cannot just take their money for shelter and buy other assets with it. A person can’t live in their 401k or their IRA. This leads us to…

3. In most markets today, owning is LESS expensive than renting.

Trulia recently came out with their Rent vs. Buy Index. The report shows:

 that it is more affordable to buy than to rent a two-bedroom home in 72 percent of America’s 50 largest cities.

For more on this issue including a 50 city breakdown, click here.

4. Current mortgage opportunities may never be available again

The government has driven mortgage interest rates to all time lows. You can still get a 5% rate and guarantee it for 30 years. Both of these opportunities may soon disappear. Mortgage rates will increase as the economy improves and the Fed no longer feels pressure to keep rates low. The 30 year mortgage may soon be a thing of the past if suggested mortgage reforms come to be. You can lock in your housing expense for 30 years if you purchase. Renting is like having an adjustable rate loan with no cap that readjusts EVERY year. Which way do you think a landlord will readjust it?

For more on this, click here.

5. Most Americans see more to homeownership than financial value.

Last week, Fannie Mae released the National Housing Survey. The survey reported:

  • 96% of all homeowners said homeownership has been a positive experience.
  • 84% of Americans still believe that owning a home makes more sense than renting. Even 68% of renters believe owning makes more sense.
  • 2 in 3 Americans believe that lifestyle benefits of homeownership (65%) are superior to the financial benefits (32%).

Bottom Line

There are more and more studies being done on the value of homeownership. We think we will trust in what our parents and grandparents said. Your mortgage payment is money you put into your savings. Your rent payment goes into the garbage.

Happy St. Patrick’s Day

I just wanted to take a moment to wish you all a very happy

St. Patrick’s Day! I hope your day was filled with green,

good food, great drinks, and many laughs!

 

Cheryl

Advice About Remodeling to Sell

Q.  We’re thinking of remodeling our home with the possibility of selling it in the next 5-10 years.  What advice do you have?

A. Most importantly, think about how it will make your home more livable for YOU, rather than spending money on features that may interest a future buyer.  There are few remodeling projects that actually add more value to the house than they cost…so keep that in mind when planning your projects.

If you’re planning to resell your home, stick to some basic rules.  A conventional home sells much more quickly than a home that is unusual.  Think like a potential buyer when you plan to remodel.  That way you’ll be making a good investment in your home.

Do talk with a real estate agent or an architect before moving forward with a remodeling project.  They will give you a realistic appraisal of the cost and whether it’s worth the investment.  If it’s worth it, then contact a reliable contractor with good references.

Happy remodeling!

Cheryl

CPS Technologies Coming to Attleboro

It looks as if Attleboro will be acquiring a new industrial company! This is great news for Attleboro as this will probably mean new jobs and expansion for the city.

Citybizlist.com announced that CPS Technologies Corp. has signed a new 13,800-square-foot lease at 79 Walton St. in Attleboro, Mass.

CPS Technologies signed the new industrial lease to expand its operations. The company will maintain its headquarters in Norton, and is scheduled to occupy its new expansion space in Attleboro this Spring.

According to its LoopNet listing, which was last updated in December 2010, 79 Walton St. in Attleboro is a 128,000 square foot industrial building previously used for light manufacturing. It is 80 percent air conditioned and contains 7,000 SF of office.

Headquartered in Norton, MA, CPS Technologies is the world leader in developing and manufacturing advanced materials solutions and products, particularly combinations of metals and ceramics, to improve performance and reliability of applications in a variety of end markets.

I am very excited to have this new industrial company come to Attleboro. It will be great to see what it does for our area!

Cheryl