About Plymouth County, MA

Think this will affect homes and real estate in Plymouth and Cape Cod? I suspect behind closed doors following the Foreclosure Settlement Thursday; the five major banks involved are quietly celebrating the fact that they dodged the bullet on this one. To me it appears as a slap on the wrist and does little to help anyone who actually lost his or her home to foreclosure. $2,000 payable to these folks is not even enough for a down payment on another home or even enough for a deposit on most rentals. And they still have lost their credit rating!

$25 billion ends the 16 months of investigation and what was accomplished? Were the banks truly held accountable? Are the victims now able to recoup their losses? And does it prevent this behavior in future?

We Realtors are hoping this will help bring back the housing market and get it moving in the right direction. We have been living under the veil of the so-called “shadow inventory” which is all the bad debt in the form of foreclosed houses banks are holding and have yet to release on the market. This settlement may in fact help in the long run by clearing out this inventory and letting the natural market forces start rebuilding peoples equity again. Though like most settlements and large programs – this will likely take time and have some changes to work through.

Roughly it breaks down that $25 billion is designated at $5 billion payable to the states, $17 billion to those already foreclosed who will get the $2,000 each. And $3 billion to help restructure existing loans where the borrowers are underwater. That is they owe more on the mortgage than their house can be sold for in their current market. Interestingly these restructured loans will supposedly write off some of the outstanding loan amount, $20,000 or more, and both those who have not been making payments as well as those who have – will be eligible for the restructured loans. So maybe there is a bit of hope here after all?

The banks will be monitored and will face penalties if they don’t honor or execute on their commitments. And according to several articles, the fact that the banks can now put a number on their legal exposure or liabilities may help to clear the clogged pipeline of foreclosures. Not sure where the state money will end up but you can bet some of it will help suffering state budgets.

Now let’s see how this unfolds for Plymouth and Cape Cod real estate. Let me know your thoughts. And here is a peak at some local area forclosures from my website:

http://riverfarmproperties.com/?page_id=520

Best of Judy's Journal - The Contest Continues!
Join me on a virtual journey of Plymouth Massachusetts, and the surrounding community, including The Pinehills. Throughout the year, I will be writing area specific posts in a series called "Best of Judy's Journal." I will tag these posts "Judy's Journal" and place a link to previous posts within the series at the bottom of the current post.

These posts will be local, local, local! Consisting of fun or special photographs, upcoming events, recaps of past events (so you don't miss out on the fun next time), highlights of area businesses (so you know where to shop, eat, play) etc.

Warning: If you don't already live in the area, you will want to by the end of the year!

What is this about a contest, you ask? It's quite simple really. In order to coax (okay, it's a bribe) you into reading my blog, The Green Company is willing to offer a little incentive. All you have to do is subscribe to my blog, and at the end of the year, we will ask you to vote on your favorite post from the Best of Judy's Journal series. Anyone that votes, will be entered into a drawing for a special prize.

If you want to participate in the contest, follow these really simple steps:

In order to qualify, you must be 18 years or older, can not be a family member, or employee of The Green Company, The Pinehills, or any other builder within The Pinehills.

I told you it was simple. Please join me on a virtual journey of Plymouth Massachusetts, and the surrounding area, including The Pinehills. Hope to see you soon!

Here is a link to previous posts in the series - Best of Judy's Journal

P.S. Today would be a great day to visit ourFrescomodel homes here at The Pinehills. Please stop by to see us at 18 Margeson Row, Plymouth MA 02360 from 9:00 a.m. to 5:00 p.m.

Copyright by Judy Jennings - All rights reserved. Best of Judy's Journal - The Contest Continues!

35 Old Shipyard Lane is located in the historic section of Hanover, MA, Plymouth County, with views of the North River. This shingle-style, custom built Colonial has architectural grade features throughout the home. 4-6 bedrooms, finished 3rd floor, 4 full, tiled bathrooms.

Built in Viking appliances, maple and cherry hardwood floors. The spacious family room has vaulted ceilings and custom built in cabinets and a wood-burning firplace.

From inside there are multiple access points to a spectacular wrap around covered porch and to the professional landscaped grounds with brick patio and walkways. Included are an irrigation system, security and whole house stereo and intercom system. With absolutely no deferred maintenance, this is the perfect home. Come see what wonderful surprises Hanover has to offer.

Offered at $945,000. Please call for more details or showings:

617.671.5711

johnm@riverfarmproperties.com

http://RiverFarmProperties.com

I have known that we are getting close to being sold out of new construction in Winslowe's View for a while now, but today I realized just how close we are to completion of this neighborhood.

There are only eight Fresco homes available for sale on Whitcomb Garden. We will build two more on Margeson Row, and at some point we will sell our two current Fresco models, plus the Talcott "Q" model we use for offices. When these 13 homes are gone, we will be sold out in Winslowe's View!

If you want new construction in Winslowe's View - HURRY! Otherwise, we are still offering Fresco homes in Rebecca's Landing and The Greens.

Check out our contest "Pinehills - In, or Around for 365 Days - The Contest Begins!" Join me on a journey as we explore Pinehills and the surrounding area.

Click here to subscribe to my blog, or click on the pinecone below.

ANY DAY is a great day to visit our Fresco model homes here at The Pinehills. Please stop by to see us at 18 Margeson Row, Plymouth MA 02360 from 9:00 a.m. to 5:00 p.m.

Copyright by Judy Jennings - All rights reserved. Pinehills - In, or Around for 365 Days - Winslowe's View

Many of us learned about Plymouth Rock as school children, and most likely have even visited the monument that surrounds this symbol of American history.

Did you know there is another historic rock in Plymouth Massachusetts? It's called Sacrifice Rock and it is located on Old Sandwich Road in The Pinehills.

Native Americans would place branches, stones, or other items on or around the rock as a spiritual gesture in hopes of receiving blessings for safe travels.

Even today, you can still find "offerings" that people have placed on or around this special rock. When I visited recently to take this photograph, I noticed beads, coins, rocks, pinecones, part of a shell, feathers, and a little red pouch. Who knows what I will find next time.

Check out our contest "Pinehills - In, or Around for 365 Days - The Contest Begins!" Join me on a journey as we explore Pinehills and the surrounding area.

Click here to subscribe to my blog, or click on the pinecone below.

ANY DAY is a great day to visit our Fresco model homes here at The Pinehills. Please stop by to see us at 18 Margeson Row, Plymouth MA 02360 from 9:00 a.m. to 5:00 p.m.

Copyright by Judy Jennings - All rights reserved. Pinehills - In, or Around for 365 Days - Sacrifice Rock