Worcester, MA

Fun at The Stripping Workshop in Worcester MA

One of my favorite businesses in Worcester, MA, is The Stripping Workshop. Before your mind goes there, let me tell you that The Stripping Workshop is a furniture upholstering and refinishing shop!

Occasionally, I'll have a piece of furniture, usually chairs, that need new upholstery. And without a second thought, I take the piece to The Stripping Workshop. They offer yards and yards of upholstery fabric, in all different price ranges. You select your fabric and leave your furniture at the shop. They give you a quote and call you to pick it up when done. So easy and so beautifully done.

Right now, they are working on a set that my husband and I inherited from his parents. It is a mid-20th century chair and ottoman, made in Denmark and very mod in design. I selected an art deco fabric of red and orange half-circles to replace the worn and matted original yellow fabric. The folks at The Stripping Workshop called me recently to come in because they needed to rebuild some of the underlying framework of the chair, which had become rotted over time. I decided that they were moving in the right direction, and they will probably finish the chair by month's end. I'll post some photos of the set once all the work is completed. Both the chair and ottoman are going to look fantastic.

If you live in the Worcester area and need expert help with a furniture piece, do visit The Stripping Workshop:

The Stripping Workshop
100 Grand Street
Worcester MA 01610
(508) 791-8450

...and if you have a house to sell in the Worcester area, call me! (508) 982-0686.

The mortgage underwriting process can best be described as a rock fight from start to finish. The key to today's pipeline is preparation on the front end of the transaction and having the biggest rock for the fight. Another key to success is having a client that will follow direction and not fight you every step of the way. The kiss of death to keeping time-lines in check are when clients say things like "I think I have given you enough" or "I shouldn't need to get you that for my loan". GRRRRR is all you can say and try and explain that we are trying to make it by the gate keeper and working with me will be the best way to do that.

I'm sure many of you can echo the same frustrations. We all continue to arm ourselves with better procceses or better tools for our clients in hopes to streamline the transaction process. Every now and then you get a client that makes it all feel worth it beyond the compensation factor. I recently took over a loan after a client was turned down from their local bank. My team and I were able to push through the red tape and close the purchase from start to finish in just under 3 weeks. Not the ideal situation I want for all of my business but sometimes it all comes together and my team makes The Mortgage Buddy look good.

Below is a nice testimonial of appreciation from my client.

All I can say is that we are in our new house in record time, and we owe our new success to John Saari and his financial wisdom.

From day one he was supportive and diligent and made my wife and I feel that we made the right choice contacting him. Not only did he work through our credit issues in the past, but we got a rate for thirty years that we never dreamed imaginable.

John was always available night and day by phone and email to keep things moving and take care of everything.

By far the best financing experience we have ever had. He made us comfortable, was honest and met every need we had to purchase our home.

I have, and will continue to recommend John and his group to anyone. You will not be disappointed!!!

Thank you again John,

You showed us that it can be that easy when dealing with the right people.

Northbridge MA Real Estate Market Report for December 2011

In December of 2011 there was 8 homes that closed within the month for Northbridge Massachusetts. This is an increase of 4 units as there were 4 homes that closed in December of 2010.

The Average list price for the homes that closed in Northbridge for December of 2010 was $295,950

The Average list price for the homes that closed in Northbridge for December of 2011 was $280,025

The Average sale price for the homes that closed in Northbridge for December of 2010 was $279,475

The Average sale price for the homes that closed in Northbridge for December of 2011 was $279,950

The Average Market time for the homes that closed in Northbridge in December of 2010 was 136 days.

The Average Market time for the homes that closed in Northbridge December of 2011 was 129 days.

3 homes went under agreement in Northbridge Masssachusetts in the month of December. The average list price of the homes that went under agreement was $331,600. The average time on the market for these Northbridge MA homes was 43 days.

January - December 2008 & 2009 Market Statistics for Northbridge Massachusetts

In Northbridge MA for the period of January to December of 2011 there were 89 properties sold.

In Northbridge MA for the period of January to December of 2010 there were 90 properties sold.

In Northbridge MA for the period of January to December 2009 there were 117 properties sold.

In Northbridge MA for the period of January to December in 2011 the average list price was $270,662 the average sale price was $260,582 and the average market time was 169 days.

In Northbridge MA for the period of January to December in 2010 the average list price was $292,115 the average sale price was $281,847 and the average market time was 120 days.

In Northbridge MA for the period of January to December in 2009 the average list price was $280,651 the average sale price was $270,931 and the average time on the market was 131 days.

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

Below are market reports for other towns in the Northbridge area:

Markets reports for Hopkinton

Market reports for Holliston

Market Reports for Mendon

Market reports for Hopedale

Market reports for Milford

Market reports for Southboro

Market reports for Upton

Market reports for Ashland

Market Reports for Westboro

Selling a home in Northbridge 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 Northbridge 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 Northbridge Massachusetts, it pays to have a pro in your corner representing you. For a comprehensive view of how we exposure your home to the masses see Northbridge MA Real Estate.

. 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 internet presence for my clients at Northbridge Real Estate Marketing **

_________________________________________________________________________________________________________

About the author: The above Northbridge 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 Northbridge MA 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 Northbridge MA Real Estate and homes see Northbridge 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, Hopedale, Medway, Grafton, Northbridge, Shrewsbury, Northboro, Bellingham, Uxbridge, Douglas, and Framingham MA.

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

Subscribe in a reader

SUBSCRIBE TO MY METROWEST HOMES BLOG via email.

Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 25 years.

Mortgage underwriting after the credit crisis of 2008 and 2009 is like navigating a downtown Boston St. after a harsh New England winter, it's full of pot holes. These underwriting pot holes can deflate your hopes of an on time closing if you don't know have the vision to see what lies ahead. The most frustrating of these obstacles areincomplete bank statements and sourcing deposits in your checking and savings account. A required underwriting condition with most purchase loans, whether that's conventional or government, is to provide the last 2 months worth of bank statements.

When providing these statements, it's very important that these are full bank statements that include your

• NAME
• ADDRESS
• FULL ACCOUNT NUMBER (no partial #s or Xs)
• ALL PAGES of the statement. (if it says 1 of 7, provide all 7)

It is also important that we evaluate the bank statements together prior to signing the purchase and sales agreement to make sure that the down payment money and any deposits can be "sourced".

What does it mean to "source" a deposit?

Essentially to source a deposit means to create a paper trail for that deposit. As a client/loan officer team, we have to be able to clearly document where that money came from. The banks need to make sure that these are legal sources of money as well as make sure that you have adaquet down payment funds. When an underwriter analyzes a complete bank statement they are going to pay special attention to the deposits into your account that are NOT direct deposit. This includes; transfers from other accounts, check deposits and cash deposits. If these are larger amounts, meaning over $400, or they total over $1,000 in one 30 day period we will need to "source" them. The list below will provide you with a guide of what is required for each of these 3 types of deposits.

Transfers: For a transfer we need to follow the trail of where it came from. This would include providing documentation of source of the tranfer. If it came from another account we would need a full statment from that account. Same would be true if it came from a brokerage account.

Check Deposits: For a check deposit, underwriting will require a copy of the check and a brief explanation as to what that check is for. They will then determine if that is an acceptable source.

Cash Deposits: For a cash deposit, underwriting will need a copy of the deposit slip and an explanation as to where the cash came from.

IMPORTANT TO REMEMBER - Most underwriting guidelines will not allow you to use cash deposits to count towards your down payment. For example: if you have $5,000 in your checking account and $2,000 of that money is from a cash or check deposit that cannot be traced back to employment income with a copy of a pay-stub, or rental income with a copy of a rent receipt, the underwriters can back that money out of their calculations. In other words, that $5,000 is now only $3,000 because that check or cash deposit cannot be "sourced".

Never make a large deposit or transfer into your account while your loan is in underwriting without first discussing it with your mortgage professional.

As you can see it is very important to be up front with your mortgage professional about what is included on bank statements. By taking the time to review the paperwork throughly at the beginning of hte process you will save time, aggrevation, and improve your chances of a successful on time closing.