Massachusetts

Buying home insurance should not have to take the joy out of owning your home. High costs, though, make some homeowners struggle to keep their home. Here are some ways that you can actually reduce the price of your coverage and still know that you are adequately covered.

Look At New Quotes

One way to reduce your home insurance costs is by looking around and seeing what other companies have to offer. When it comes to how much you pay, you should look for savings where you can find them, and not stick with any company simply because you have been with them a long time. Although, you should know that staying with one insurer often does give you a discount, you may want to weight whether the discount outweighs the monthly payments another company might give you.

You can easily obtain home insurance quotes by going online to an insurance broker's website. These are not a particular insurance company's Website, but are owned by an independent agent who does business with a number of different insurance companies. By entering in your information there, you will be able to get several quotes by entering it only once. Go to more than one broker's Web site and get at least 6 or 7 different ones. Then compare them carefully.

Add Safety Features

Most home insurance companies will give discounts if you have some sort of safety feature in your home. This will include things like alarm systems - burglar, fire and smoke, fire extinguishers, deadbolt locks on all exterior doors, fire-retardant materials, and even hurricane proof materials.

Increase Your Deductible

Whenever you reduce the potential liability of an insurance company, they will nearly always reduce your rates. By increasing your deductible amounts to, say, $1,000, you will see your rates decrease - possibly up to 25%. You always want to be sure, though, that you can meet this amount in the amount of any disaster effecting your home, because the insurance company will only pay after you do.

Put Policies With Same Insurer

Insurers often give discounts if you have more than one insurance policy with them. If they have both your auto and home insurance, check to make sure there is a discount being given. It may not be a good idea, though, to automatically switch your policies to the same insurance provider, until you do a comparison and see which company offers the better deal overall. Although switching may give you a discount, you may get an even bigger one simply by moving to a new company.

Keep Your Credit Record In Good Shape

Believe it or not, your credit record may effect how much you pay for your home insurance. It seems that more insurers are looking at people's credit and charging accordingly. You need to get your free credit report each year in order to check it and see if there is any incorrect information on it. Then, correct it quickly, and keep it in good working order.

Following is a post from the Law Office that I partner with to do short sales. I find much confusion when it comes to concessions on a short sale. My first piece of advice.... if you do not need the concessions, do not ask for them. The cleaner you can make the deal the more likely you will be to get your offer approved. Secondly if you do want concessions keep them on 3% of the total purchase price. With properties selling for under $100,000 buyers are asking for concessions of 5-6% for closing costs.

Keep your offer clean.

Reposted from the Loan Workout Group's News Letter

Our firm continues to see confusion as it relates to what is an allowable percent for a seller paid concession of closing costs. Often, a counter offer by the lender to a requested concession can cause a deal to fall apart.

What is allowable? Fannie Mae and Freddie Mac have set the industry standard for allowable seller concession limits. The maximum contribution for a conventional loan amount is 3% of the lesser of the purchase price if the buyer’s down payment is less then 10% and the property is owner occupied. The maximum concession can increase if the down payment is 10% or greater.

These are Fannie and Freddie guidelines however they are widely recognized by a majority of non Fannie and Freddie owned loans as well. Both FHA and VA guidelines have different concession allowances. Please feel free to call our office for more details. Our recommendation is to make all parties aware that they may very well see a reduction in concession amounts greater then 3%. Setting reasonable expectations early one will help keep these difficult deals on track.

The LoanWorkout Group is your full service partner in the negotiation of successful short sales.

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This post was provided by Kevin Vitali of EXIT Group One Real Estate In Tewksbury MA. You can contact Kevin by email at kevin@kevinvitali.com or call 978-360-0422.

I pride myself in the quality of my work while helpingbuyers and sellers make dreams come true.

Real Estate Services including short sales in the northeast Massachusetts, around the Merrimack Valley, Southern New Hampshire including the towns of Andover, Billerica, Boxford, Chelmsford, Dracut, Georgetown, Groveland, Haverhill, Lawrence, Lowell, Merrimac, North Andover, Newbury, Newburyport, North Reading, Rowley, Tewksbury, Tyngsboro, Westford, Wilmington, West Newbury

Upton Massachusetts Real Estate Market Report January 2010

In January of 2010 there was 1 home that closed within the month for Upton Massachusetts. This is an increase of 1 units, as there was 0 homes that closed in January of 2009.

The Average list price for the homes that closed in January of 2009 was $719,095

The Average list price for the homes that closed in January of 2010 was $N/A

The Average sale price for the homes that closed in January of 2009 was $719,095

The Average sale price for the homes that closed in January of 2010 was $N/A

The Average Market time for the homes that closed in January of 2009 was 40 days.

The Average Market time for the homes that closed in January of 2010 was N/A days.

There were 4 homes that went under agreement in Upton Massachusetts in the month of January. The average list price of the homes that went under agreement was $422,175. The average market time for these homes was 129 days.

January - December 2008 & 2009 Market Statistics for Upton Massachusetts

In Upton MA for the period of January to December of 2008 there were 42 properties sold.

In Upton MA for the period of January to December 2009 there were 56 properties sold.

In Upton MA for the period of January to December in 2008 the average list price was $440,847 the average sale price was $418,537 and the average market time was 126 days.

In Upton MA for the period of January to December in 2009 the average list price was $416,507 the average sale price was $403,049 and the average time on the market was 149 days.

** The above statistics are for single family homes only and do not include condo's or Multi-family homes in Upton MA.

In comparing year over year longer term data for Upton MA, it appears that there is still a slight downward trend in the average sale price for homes. The average time for a home on the market also went up. The good news however, it that there were quite a few more home sales in 2009!

For those buyers that are looking for a rural town with great lot sizes and only a little longer commute time, Upton remains an excellent choice.

Click here to see previous Upton Real Estate Market Reports.

Market Reports for Mendon

Market reports for Hopkinton

Market reports for Holliston

Market reports for Milford

Market reports for Southboro

Market reports for Ashland

Market reports for Hopedale

Selling a home in Upton Massachusetts or other Metrowest town is heavily dependant on pricing your home properly and picking an agent that will create an "online market presence" for your home. As a home seller, you need to be aware that the market in Upton and many other Metrowest communities has changed over the last five years. We are no longer in a seller's market. When selling a home in Upton Massachusetts, it pays to have a pro in your corner representing you.

We are no longer in a seller's market. When selling a home in Upton MA it pays to have a Pro in your corner. Here are some Real Estate interview questions to ask when interviewing your agent, that will help you determine if you are hiring a top producer or not!

** Almost 90% of all buyers are finding their homes on the Internet. See where I advertise on-line to create a dominant online presence for my clients at Upton Massachusetts Real Estate Marketing . **

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About the Author: The above Upton Massachusetts Real Estate market report was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356. Bill has helped people move in and out of Upton Massachusetts and other Metrowest towns for the last 24+ Years.

Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!

For Massachusetts and Upton MA Real Estate and homes see Upton MA Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.

I service the following towns in Metrowest MA: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Franklin, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Douglas, and Framingham MA.

Click here to view Bill Gassett's Real Estate profile.

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Opting for new home construction Whether to buy an existing home or have one built is yet another decision to make during the home-buying process. If you decide to go with new construction, a real estate agent can be a powerful advocate in your corner as you negotiate upgrades, a move-in date and other terms with the home builder. Below are some basic pointers to prepare you for the journey ahead. Selecting a builder Shopping for a large production or custom home builder can be a daunting task. Start by defining what architectural styles appeal to you and then seek out the builders in your area who offer those styles. Due diligence is essential. Ask friends for referrals to get firsthand accounts; verify the builder's state license status, if applicable; and check whether they're certified by the National Association of Home Builders. The builder representative and your real estate agent A builder representative's ultimate goal is to sell you a home. His or her role is to provide a wide range of information to help you in your decision-making, from building restrictions, roads and easements to inspections, warranties, rebates and upgrades. A real estate agent knowledgeable in new-home construction will be able to help you wade through all the data and point out the downsides and upsides of each line item. Your agent also can look out for your interests in reviewing the builder's contract, which often contains more legal jargon than consumer-friendly language. It's all about timing Market conditions greatly dictate a builder's incentive to make a deal you cannot refuse. When a builder has inventory on his hands, his carrying costs start adding up. When this happens, a builder might be more amenable to strike a favorable deal, whether it's throwing in upgrades or taking a bit off the asking price. A real estate agent can help you know when market conditions are right for these benefits. Also, watch for builder close-out sales. Builders promote these special events when a new subdivision is near completion but empty inventory still remains. A word about paying up While there are always exceptions, most builders require a deposit when a purchase agreement is signed. They also require that the buyer pay for any upgrades prior to closing. If you back out prior to closing, unless the agreement states otherwise, you will lose that money. Make sure you understand every detail in the builder's contract before signing it.

As many of you may know, "Doctor Loan Programs" have been around for a while, generally in all shapes and sizes. The thrust of most of these plans is to enable a "resident" or physician who has just joined a medical group to use leverage to purchase his or her first home, and your chances of developing a "clientfor life" are greatly enhanced. Especially with the more restricted credit availability for all potential Buyers, the availability of these kinds of programs can mean the difference between being able to purchase a home or condominium unit which the doctor will be able to afford, bbecause his or her salary will soon be increasing, or not.

In the course of representing a female physician and her husband with a purchase in a Boston suburn, I have recently experience the "Drew Daniels Doctor Loan Program" at Compass Bank (www.compassbank.com/mortgages/ddaniels). This Program is a "winner" and provided my client the chance to do a highly leveraged Jumbo mortgage at reasonable rates. What is more important Compass's service was excellent. Dee Baron, the originator I worked with at Compass Bank (214-501-2352; d,baron@compassbank.com) answered all of my clients questions and concerns quickly and honestly. We turned a rather complicated purchase around in less than two months.

These are the salient aspects of the Drew Daniels Loan Program:

1. There is a requirement that the Mortgagor open a BBVA Compass New Account ($300 credit deposited into the account after the loan closes)

2. Jumbo loans may required a substantial banking relationship with an opening of additional accounts

3. Up to 100% financing as allowed based on credit profile, asset depth and bank guidelines

4. No PMI

5. A "single" loan, not a combination of two loans.

6. Seller may pay all closing costs and escrow costs (there is no "cap")

7. Flexible guidelines for approval of the mortgage loan.

AS I have indicated, I have already completed a successful closing of one of these loans, and I am working on a second. I intend to suggest that all my physician Buyers at least contact Dee Baron and look into the Compass Bank program. With the great service they are able to provide, and the high leverage, this is an option that all Members of ActiveRain Nation should know about as we face the challenges of 2010.