North Attleboro New & Events

Archive for June, 2011

Buying and Selling When It’s Hot

It’s heating up outside so how do we maximize our buying/selling results in the heat? Here are 5 Summer Real Estate Tips from Jamey Wolbert that will help us attack the summer season. There are typically more active buyers and sellers during the summer months. Here are some tips and trends to make your summer season the most effective.

1. Sellers: Don’t Forget the Outside

During summer, landscaping and outdoor space are especially important aspects of your home sale. Maximize the space by keeping the exterior clean, organized, and inviting. Pressure washing, lawn care, and other regular maintenance tasks can do wonders for your bottom line.

2. Buyers: Don’t Forget the Inside

It can be easy to get swept away by a great fenced lawn, pool, deck, and other exterior features, especially when you are house hunting at the peak of summer. But don’t let visions of outdoor relaxation and entertaining distract you from other essential home features or sway you into overlooking interior concerns.

3. Sellers: Know Your Competition

With more houses on the market, knowing what you are up against is key. Being aware of other homes for sale in your neighborhood can help you define your home’s own weaknesses and strengths. Reviewing information on area listings can also help ensure that you price your home right.

4. Buyers: Remember Your Goals

When a surge of homes come on the market at the start of summer, it can be easy to get overwhelmed by all of the options. Don’t lose sight of the features that are most important to you, and try to set reasonable expectations that suit your budget, lifestyle, and overall needs.

5. Everybody: Don’t Get Squeezed by the Season

Even though summer is a prime time for buyers and sellers, don’t let the seasonal time frame become an added stress during your house hunt or home sale. Both buyers and sellers can find success throughout the year!

If you have questions or are looking for more tips, feel free to contact me directly!

Happy Summer!!

Cheryl

Advertisements

Great Tips for Staying Cool this Summer!

Summer has arrived so I wanted to give you a few tips on keeping your home cool. I found great tips from Care2 that should help us all avoid the dreadful overheated home.

  1. Over most of the cooling season, keep the house closed tight during the day. Don’t let in unwanted heat and humidity. Ventilate
    at night either naturally or with fans.
  2. Use ceiling fans to increase comfort levels at higher thermostat settings.
  3. If you have an older central air conditioner, consider replacing the outdoor compressor with a modern, high-efficiency unit.
    Make sure that it is properly matched to the indoor unit.
  4. If buying a new air conditioner, be sure that it is properly sized. Get assistance from an energy auditor or air conditioning
    contractor.
  5. Try not to use a dehumidifier at the same time your air conditioner is operating. The dehumidifier will increase the cooling
    load and force the air conditioner to work harder.
  6. Keep the thermostat set at 78 degrees F or higher if using ceiling fans. Don’t air-condition unused rooms.
  7. Install white window shades or mini-blinds. Mini-blinds can reduce solar heat gain by 40-50 percent.
  8. Close south and west-facing curtains during the day for any window that gets direct sunlight. Keep these windows closed, too.
  9. Provide shade for your room A/C, or the outside half of your central A/C if at all possible. This will increase the unit’s
    efficiency by 5 percent to 10 percent.
  10. Clean your A/C’s air filter every month during cooling season. Normal dust build-up can reduce air flow by 1 percent per week.
  11. Turn off your A/C when you leave for more than an hour.

Hope these help you stay cool this summer!

-Cheryl

 

A Window of Opportunity for House Sellers

Great blog from the KCM Group that I wanted to share with you! Check it out and let me know your thoughts.

There has been much confusion as to where housing prices are headed. We have actually blogged on the issue recently. Today, we want to give our opinion on this subject for the short term. We believe sellers have a window of opportunity for the next 90-120 days in which to sell their homes for maximum price. We believe there will be increased downward pressure on home prices later this year and the first half of 2012.

Why renewed downward pressure?

Any item’s price is determined by ‘supply and demand’. In many parts of the country existing housing inventory is already high and actually increasing. In addition, an inventory of distressed properties (foreclosures and short sales) will be coming to market later this year. This inventory has been delayed for the last several months because of faulty paperwork by the banks when they originally attempted foreclosure proceedings on these homes.

Celia Chen, of Moody’s Analytics explains:

“Foreclosures are weighing on the outlook for U.S. house prices, and the slow resolution of issues surrounding the so-called robo-signing scandal is keeping distressed homes off the market”.

The New York Times also recently reported on this issue. They looked at the delays in certain states. As an example, this is what they found in New York:

“Last September, before the documentation crisis, nearly 1,500 New Yorkers lost their houses as a result of foreclosure, according to LPS. The average over the last six months: 286. That is far lower than at any point since the recession began.”

Banks are now correcting these errors.

There is evidence that the banks are getting their documentation in order and about to again increase their foreclosure repossessions. Housing Wire reported:

“Since major lenders delayed foreclosures to fix a broken process late last year, the amount of filings declined, but in May signs emerged the effect might be wearing off.”

They went on to quote RealtyTrac CEO James Saccacio:

“…lenders are somewhat unevenly pushing batches of bad loans through foreclosure as they overhaul their paperwork and documentation procedures and as they determine that some local markets are able to absorb more foreclosure inventory… Foreclosure processing delays continue to mask the true face of the foreclosure situation, although there were some clues in the May numbers of what lies behind that mask.”

What will this mean to home prices?

As this inventory comes to market, it will impact prices in two ways:

  1. It will provide discounted competition for buyers
  2. It will impact the appraisal values of all homes in the area

Again, we quote Celia Chen:

“It is quite possible that house prices will pick up slightly in the second or third quarter of this year, as foreclosure sales remain depressed while nondistress sales pick up…By the fourth quarter of this year, however, the distress share will rise, sending the house price index back down…

House prices will founder until early next year and start rising in earnest at the end of 2012.”

Bottom Line

There is a window of opportunity currently which sellers should take advantage of. Waiting until later this year or until next year will not guarantee a higher sales price. If anything, it probably guarantees the exact opposite.

 

-Cheryl

Attleboro Farmers’ Marketing Looking for Vendors

The City Council is getting the ball rolling for the Attleboro Farmers’ Market which will kick off in July.

There are already been much planning and preparation and now they are seeking more vendors. They need a commitment of 20 vendors each week.
The council is encouraging residents who have a surplus from their gardents to sell what they have grown as well as the people who can and bake items to
contact the organizers.

Every Saturday they will have entertainment to make the market even more enjoyable for kids and adults alike. The local YMCA will be demonstrating some of their new programs and there will be yoka in the park and dancing on the grass.

The Attleboro Farmers’ Market will be available to residents each Saturday beginning July 2 through Oct. 29, from 8 a.m. to 1 p.m. each Saturday.

Cheryl

Tips for Tornado Recovery

With the crazy tornadoes we just saw sweep through our area this week, I wanted to pass along some tips from Allstate Insurance.

As an expert in dealing with natural disasters, Allstate encourages consumers to follow the below steps when checking their homes for hidden damage:

• After wind or earth movement events you should look for wall cracks in spots where you didn’t have cracks before. Cracks of a quarter inch or more are signs your walls may have shifted or settled. Look carefully around windows and doors because these are typically the weakest spots in your construction.

• Make sure to closely check rooms you don’t usually use.

• Look for cracks or signs of lifting in your foundation. Look outside for physically visible, new cracks in your home’s foundation. Look inside for changes in the levelness of your floors. Changes in the level of your floor could be signs of a lift in the home’s foundation.

• Inspect your plumbing. Look closely around your water heater and or water softener for signs of water leaks that did not exist before. Flush all your toilets, turn on all your water faucets, and check connecting pipes for leaking water.

• In the days or weeks after a tornado, check walls and ceilings for water stains or yellowing that could be signs of unseen damage on your roof.

• Carefully inspect your outside gutters. Damaged gutters could cause water damage inside your home long after the actual gutter damage occurs.

If your home shows signs of hidden damage and needs repair, Allstate strongly encourages homeowners to be extremely cautious when hiring contractors. Unscrupulous contractors may take advantage of people who have experienced a catastrophic event.

 

I hope these help!

Cheryl

 

3 Accused of Mortgage Fraud Scheme

A federal grand jury this week indicted three people in a $3.5-million mortgage-fraud scheme involving 13 properties in communities throughout the state, U.S. Attorney Peter F. Neronha announced Wednesday.

The Providence Journal reports the allegations center on a loan officer, a loan processor, a lawyer disbarred for misusing clients’ money a decade ago and properties in Cranston, Central Falls, Coventry, Pawtucket and Providence.

One of the men indicted, James D. Levitt, is also charged in a separate eight-count indictment of bank fraud, wire fraud and tax fraud in connection with mortgage transactions. He is accused in a second indictment of scheming to commit mail and wire fraud by obtaining mortgages on three properties he expected to control.

The indictment accuses two of the others, Juan Carlos Hernandez and Miguel Valerio, of conspiring to recruit and pay so-called “straw purchasers” to purchase properties that Hernandez and Valerio weren’t qualified to buy, with the intention of later taking control of the properties, renting them and selling them,  Neronha said. In addition, the indictment alleges all three men conspired to get straw buyers to apply for mortgages on four properties in which the men had financial interest.

Lenahan was convicted in 1999 of trying to push his wife off a 100-foot ledge at Diamond Hill State Park in Cumberland while their children played.

As he awaited trial in Rhode Island, Lenahan was convicted in Attleboro District Court of soliciting an undercover police officer to kill his wife and the 17-year-old he believed was her lover. The day after he was arraigned on the Rhode Island charge, he traveled to Attleboro to hire a hit man. Lenahan was not charged in the mortgage-fraud case.

Assistant U.S. Attorney Luis M. Matos is prosecuting the cases, which were investigated by the FBI, the U.S. Department of Housing and Urban Development and the IRS.

 

Cheryl