Massachusetts

Are you a home-buyer who's looking to get "more home for your money"? What buyer isn't, right? Or perhaps you're a current homeowner who would like to make some much-needed repairs to your home. If so, keep reading...

A HUD-insured 203(k) loan may just be the financing tool you need to buy or create your perfect home! With a 203(k) loan, available through any FHA-approved lender, you can purchase or refinance a property PLUS include the costs of making repairs and improvements (not just energy-efficient improvements either).

You could also combine the 203(k) financing with other financing options as well. Consider having a home energy audit completed at the same time and you could also qualify for an Energy Efficient Mortgage, which offers either a lower interest rate, fewer points, or even a reimbursement for the cost of the energy audit. (For more information on Energy Efficient Mortgages, see my earlier blog entry on the topic.)

What properties are eligible?

• Property must be a one- to four-family dwelling that has been completed for at least one year. The number of units on the site must be acceptable according to the provisions of local zoning requirements. All newly constructed units must be attached to the existing dwelling. Cooperative units are not eligible.
• In addition to typical home rehabilitation projects, this program can be used to convert a one-family dwelling to a two-, three-, or four-family dwelling. An existing multi-unit dwelling could be decreased to a one- to four-family unit.
• HUD also permits Section 203(k) mortgages to be used for individual units in condominium projects that have been approved by FHA, the Department of Veterans Affairs, or are acceptable to Fannie Mae and Freddie Mac guidelines.

You can use the 203(k) program to finance such items as painting, room additions, decks and other items even if the home does not need any other improvements. However, there are some requirements that MUST be completed as part of the overall rehab. These health, safety, and energy improvement requirements must be satisfied before the other improvements can be made.

For more information on the HUD 203(k) Home Loan program, check out the Home Improvement page on HUD's web site. For the detailed requirements of the program, visit the Rehab A Home page as well. For a listing of HUD-approved Lender's visit their Lender List and find a lender near you. And as always, you can check my web site at CyberGreenRealty.com for more localized information on the Boston green real estate market.

Until next time, Peace!

-TMC

FIREWORK DISPLAYS

July 3rd

Danvers: 9:00 PM at Plains Park

Gloucester: 9:30 PM at The Harbor

Hingham: around 9 PM

Lexington: After Sundown at Center Playground,

Manchester-by-the-Sea: 8:30 PM at Singing Beach

Milford: 9 PM at Plains Park

Needham: Dark at Memorial Field

Orleans: Dusk at Rock Harbor

Sharon: 9:15 PM at Memorial Park Beach

Walpole: 9:00 PM at the field behind town hall

Weymouth: 9:30 PM on the waterfront

July 4th

Acton: 10:00 PM at NARA park

Barnstable: Dusk at Lewis Bay

Bellingham: 9:30 PM at the Football field

Beverly Farms: 9:00 PM at West Beach

Boston: 10:30 PM on the Esplanade

Falmouth: Dusk at the harbor

Marblehead: 9:00 PM at the harbor

Martha’s Vineyard: 9 PM in Edgartown

Nantucket: 9:00 PM off Jetties Beach

Newton: 9 PM at the Halloran Field and Sports Complex

Old Sturbridge Village: Dusk

Plymouth: 9:00 PM on the waterfront

Salem: 9:15 Pm at Derby Wharf

Wakefield: Dusk at North Avenue

Waltham: 9:30 PM at Leary Field

Wilmington: Dusk on the common

Total Market Report is provided to give you an overall picture of the current market conditions.The following report is for single family homes sold in Berkley from April 1, 2009 - June 30, 2009.

Single Family Homes

Number of Homes on Market 62 (UP 23 from last report!!!)

Average Days on the Market 151 - An abundance of homes placed on the market in the last 4 months

Number of Homes U.A.G 5 - that averaged only 63 days on the market (Price = Pace)

Average Price of U.A.G. Homes $237,480

Number of Homes Sold 8

Average Sold Price $278,975

Average Asking Price $370,375

Lowest SALE Price $110,000
Highest SALE Price $425,000

April, May and June finished with a fair amount of activity. 13 home buyers have taken or are taking advantage of the $8,000 First Time Home Buyer Tax Credit. 13 home sellers have priced their home IN THE MARKET and have successfully sold their home. There is still pent up activity, plenty of buyers are jumping off the fence and buying. Position yourself as a Home SELLER not just a homeowner with your house on the market.

You want your home IN the market not ON the market.

The absorption rate is sitting at 7.5 months from 10 months in the month of February. Lots of inventory was purchased but lots was placed on the market as well! There has been a tremendous increase in the number of buyers in the marketplace - rates are at an historic low - the government is putting immense pressure on the banks to work WITH homeowners not AGAINST them and help them restructure their loans to try and prevent additional foreclosures from hitting the market. The lower end and modest homes are being absorbed much quicker that higher end homes. Homes over $400,000 are experiencing longer market times and more downward pricing pressure. Lower end homes are receiving multiple offers and even selling OVER asking price.

What do you need to know if you are a homeowner looking to sell?

Your home MUST (and I mean MUST) be in a condition that an F.H.A. or V.A. approved buyer can purchase call me to find out what steps you MUST take to ensure your home is in the condtion required by these mortgage programs



According to the facts of record we are still losing value. Not great news I know, but it stresses the importance of properly pricing your home UPFRONT!

Price it ahead of the curve and you will open your home up to the largest pool of potential buyers which will sharply lessen your market time AND increase your bottom line! I would rather see any seller get multiple offers to choose from than no offers at all.

Call me for a competent, accurate analysis of your home.

Bobbie Files
Your Bristol and Plymouth County Realtor

Visit my website at www.BerkleyMass.com

Search for Berkley Ma Homes at: http://BerkleyHomes.BerkleyMass.com

Search for Taunton Ma Homes at: http://TauntonHomes.BerkleyMass.com

For those struggling to pay your mortgage payments please visit: http://shortsales.berkleymass.com

ARE YOU INTERESTED IN PURCHASING ONE OF THE INCREDIBLE FORECLOSURE BUYS ON THE MARKET???
VISIT - http://JustForeclosures.BerkleyMass.com

Don’t think of this as just a “winter” topic either – you can save money on your cooling costs starting now by taking some simple steps to seal (or “tighten”) your home.

• Air leakage amounts to 30-40% of a home’s heating and cooling costs.
• Stopping air leakage is important not only for energy savings, but also for protecting your home from the damaging effects of moisture and resulting mold.
• When air leaks in through walls, it carries humidity. When it hits a cold spot, it condenses and causes insulation and the surrounding wood to get wet, resulting in wood rot and mold growth.
  

Most people assume the majority of a home’s air leakage occurs through windows and doors – but this really only accounts for 10-15% of air leakage in a home. So before you spend a lot of money on just replacing windows and thinking you’re saving lots of energy, consider taking some of these steps first:

• The greatest areas of air leakage occur around the top of the foundation and around the penetrations to the attic. Seal the foundation (rim joist) with caulk or expanding foam. To seal the attic penetrations, push back the insulation and seal the holes around the wiring and plumbing stacks.
• To seal around the existing windows, use a clear caulk around the window frames where the trim meets the wall. Add weatherstripping if necessary.
• Seal around all ceiling fixtures, heat registers, medicine cabinets, bath tubs, kitchen cabinets, drain and water pipes where they enter the wall in kitchen and bath and any other interior wall penetrations.

Visit your nearest Home Depot or Lowe’s and pick up these simple materials. They can really help you save a lot of money year-round. And keep in mind, a trained professional with proper training and equipment is always best-suited to pinpoint specific points of air leakage and recommend the necessary improvements.

Have you tried any of these solutions to stop air leakage in your home? Share your experiences and costs savings here.

For more information, visit CyberGreenRealty.com for links to locally-trained professionals in the Arlington, Massachusetts area.

Until next time, peace!

-TMC

Fingers crossed that the rain will end in time to celebrate the Fourth of July in Massachusetts. Whether you want to join the big party on the Boston Esplanade or would rather stay closer to home, there are plenty of Independence Day celebrations around Boston.

Boston 4th of July Fireworks and the Boston Pops

This year marks the 36th annual Boston Pops 4th of July concert and fireworks at the Hatch Shell alongside the Charles River in Boston. People make a party of the day and arrive early to get a good spot.

The Oval, the restricted area for seating, opens at 9 am on July 4th. The concert with Keith Lockhart and the Boston Pops begins at 8:30 pm. The fireworks show starts at 10:30 pm and lasts until 11 pm.

Cambridge doesn't have its own fireworks display but offers prime viewing for the Esplanade fireworks. People line the bank of the Charles River between the Harvard Bridge at Mass Avenue and the Longfellow Bridge. If you can snag a spot on the bridge itself you'll have an excellent view. Food concessions and restrooms will be available on the Cambridge side of the Charles.

While we're all sure the skies will clear by Saturday, if the fireworks are rained out on the 4th, the fireworks, but not the concert, will be rescheduled for 9:30 pm on Sunday, July 5th, weather permitting.

Friday Night Fireworks in Lexington MA

Start the fireworks early in Lexington, Massachusetts at the Lions Club Carnival. The Carnival is the Lions Club annual fundraiser and will be open on Friday, July 3, 2009 from 1 pm to 11 pm with the fireworks scheduled to go off after sunset.

The carnival is being held at the Lexington High School in the Waltham Street parking lot behind the high school.

The carnival is scheduled for:

• 6 - 11 pm on Thursday, July 2nd
• 1 - 11 pm on Friday, July 3rd
• 1 - 11 pm on Saturday, July 4th
• 1 - 7 pm on Sunday, July 5th

4th of July Family Fun and Fireworks in Waltham Massachusetts

Bring the kids to Prospect Hill Park in Waltham on Saturday, July 4, from 10 am to 2 pm. There'll be food, drinks, pony rides, animal shows, free children's rides, music and more. Prospect Hill Park is at 314 Totten Pond Road in Waltham.

Continue the party at Leary Field from 5:30 to 9:30 pm on July 4th with a concert with the Reminicents at Leary Field off Bacon Street. Fireworks are scheduled for 9:30 pm.

4th of July Kids' Fun and Fireworks in Newton MA

Newton celebrates the Fourth of July at the Newton Centre Playground with fun activities for kids from 10 am to noon. There'll be a Pet Parade, a Teddy Bear Parade, a Decorated Doll Carriage Promenade, Foot Races, and free ice cream.

The party continues at the Russel J. Halloran Field and Sports Complex at 250 Albemarle Road in Newtonville. From 11 am to 10 pm there'll be an open air market, crafts for sale, recorded music for dancing, food concessions and amusement rides. The fireworks are scheduled for 9 pm.

4th of July Celebrations in Arlington MA

Fourth of July festivities in Arlington will be held at Robbins Farm Park (aka Skyline Park) from 7 pm to 11 pm on July 4, 2009. The park is at at 1 Eastern Avenue. There'll be refreshments, musical entertainment by the John Penny Band, and a broadcast of the Boston Pops Concert and fireworks on a giant screen.

Somerville Fireworks Rescheduled

The fireworks in Somerville MA were scheduled for tonight but were postponed because of rain. Next Thursday, July 9, 2009 catch a concert by the Somerville Sunsetters followed by fireworks at Trum Field. Trum Field is on Broadway between Magoun and Ball Squares.

A week of fun and fireworks - what could be better? Happy Birthday America!