Brockton, MA

The Brockton market has been hit hard by the hosuing crisis. Thousands of homeowners are underwater and a short sale is a viable solution to enable many to get out of a bad situation. My team and I have negotiated over 30 short sales since 2007 and are certain we will get your short sale approved. To learn more contact the Boston Trust Realty Group Team and let us help you today! 617-674-2077 http://btrealtygroup.com

According to data from the MLS the following facts of record will show that:

in the first six months of 2011:

243 homes sold with an average List Price of $170,270 and a final sales price of $164,408

in the last six months :

268 homes sold with an average List Price of $174,352 and a final sales price of $$169,401.

These are statistics for single family homes listed and sold in Brockton MA in 2011 through the Multiple Listing Service.

A home inspector working in Brockton MA is required to perform a home inspection to the Massachusetts Home Inspector Standards of Practice. A copy of the standard will be provided to the client by the home inspector.

The MA Home Inspector Standards of Practice is written for the professional home inspector. United Inspection Service has created some easy to read Consumer Information Sheets illustrating what is included and excluded in a Standard MA home inspection. Clear client communications (3c) are one of our core values. See the easy to read one page consumer information sheets for each of the systems in a MA Home Inspection.

Visit the Brockton MA Home Inspection web page from United Inspection Service for some useful information about homes in Brockton MA and the Massachusetts Home Inspection.

• Massachusetts Home Inspector Standards of Practice
• Recommended Questions to Ask the Seller/Seller's Representative
• Home Inspection Photographs
• Flood Zones
• Lead Paint
• Hazardous Waste Release
• Check the Brockton MA Home Inspector web page for consumer information links ...

For the 4th year in a row the City of Brockton will host a 'SANTA HAT' day to break it's own record for the most people in one place to be wearing one. The Downtown event will be distributing more than 14,000 hats to school children and adults for the event. The City already holds the world record. Officials will record the count, which begins at 2:30.

In the late 1800's James Edgar became the first department store Santa Claus at his store on Main St. From there the idea was adopted by Macy's and other retailers throughout the country.

Why am I in Foreclosure in Brockton, Massachusetts?

In the mid 2000’s it was so easy to get a mortgage on your property. The house had value and the banks would on occasion even lend more than you were actually paying for the property. Of course when your loans are not backed by any type of collateral and the time comes to collect on the loan it is tough to get reimbursed for money that has been spent with nothing to back it.

For many years the bank would generally loan you 90% of the purchase price of the property. That way you have some skin in the deal and it will be harder for you to walk away from your hard earned money. For most people to come up with $10,000 to buy a $100,000 house it will take them a long time saving which makes it difficult to give that up if you have to.

Since the over inflated values of properties have come crashing down and back to a realistic value, over the last 5 years and the mortgages on 61% of the properties are for more than the property can be sold for which leaves a gap between the mortgage amount and the actual value. For example if a house worth $220,000 got a mortgage for $200,000 in 2005, the actual value of the property could be only $120,000 here in July of 2011. This means that even if the homeowner has been paying for the six years consistently the amount of the principle has not been significantly reduces because early in the loan most of the payment is interest and the longer you have the not the more each payment cuts into the principle. After paying four years the actual amount still owed could be $185,000 depending on the type of loan. This means that there is a $65,000 gap between what is owed to the bank and what the home is actually selling for on the market today.

What can you do? The first thing you need to do is get a handle on how much money you have and what you are spending it on. Most of the people I meet with have enough money they are just not spending it wisely or their mortgage got to a ridiculous rate and if it were back to reality they could afford it. If you are happy with your home and can make the monthly payments, just wait out the storm. By the year 2020 your house will be worth more than your mortgage especially if you can make some extra principle payments such as $100 per month extra over and above the payment. This will significantly reduce the number of years you will pay on your mortgage and will also reduce the principle faster.

For everyone else who either has to move or you are in a position where you can’t pay your mortgage and are behind, you will need to work out an agreement with the bank. There are many ways to do that but the most common is a short sale in which there is a buyer who is willing to buy at a fair value based on what houses are selling for and the condition of your house. They get approval from the lender to purchase the property at the new reduced price and the lender is able to write off the difference in losses. It is a little more complicated than that but that is basically how it goes. There are other options and if this is something you would like to learn more about feel free to call me and we can discuss your options.