In my office I am known as the "go-to" person by my fellow agents for advice / help and as a sounding board. I feel honored that I am thought of in such a flattering manner by those that I work with, some of whom are major hitters in our market area.
Well, the other day I got a call from one of these agents (p.s. she is an avid Active Rainer so I hope she doesn't mind me kissing and telling) to tell me about her bad day. A closing that was to happen that day didn't. Uuuugghh!!! I know we ALL know how that feels....the DAY OF closing to have it all blow up. It stinks!
She told me that before the closing she took the buyer to their final walk thru, which they did not want to do as they felt it wasn't necessary as the home was vacant due to foreclosure and they were just there a couple of weeks ago, well this agent insisted that it was important irregardless of the fact that the home was vacant.
Well off to the walk thru they go......
To their shock, horror, and dismay all the plumbing had been stolen (thank you economy for making people desperate enough for money that they have to resort to this). It appeared to them that the burgular was going to come back as the heating system was neatly dismantled and put in a pile close to the door. Who needs a house with no plumbing? How much will it cost to rectify? Who cares either way as the buyer should not have to take it on.............but would have without the final walk thru!!!!!!!!! Calling all buyers do you hear me YOU WOULD HAVE OWNED THAT IF YOU HADN'T DONE YOUR FINAL WALK THROUGH!!!!
So, this agent is venting to me how upset she is and that this day was horrible and she is on her way home.
Horrible?????? What?????? I said you have to be kidding me, this wasn't a horrible day! Quite to the contrary it was a great day! Your skill as a buyers agent saved your buyer from closing on a home that they wouldn't have purchased in that condition!! You saved yourself from a lawsuit by preventing the sale because as a buyers agent that is something a reasonable man could see and a reasonable man would be expected to know and disclose. You also instilled into your buyer the importance of EVERY step of the transaction and your value as a competent buyers agent!
You actually had a GREAT DAY!!!
The moral of my story.......every situation has a flip side and a quality REALTOR is worth every penny they save you!!
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 January 1, 2009 - January 31, 2009.
Single Family Homes
Number of Homes on Market 41 (up 4 from last report)
Average Days on the Market 82 - Living proof if they are priced correctly they will sell timely
Number of Homes U.A.G 3 - And only 41 days to get the buyer!!!!!! Price=Pace
Average Price of U.A.G. Homes $298,933
Number of Homes Sold 3
Average Sold Price $283,833
~$250,000 As of January 8, 2009
~$361,250 As of December 5, 2008
~$259,125 As of November 2, 2008
~$312,913 As of October 3, 2008
~$435,000 As of September 3, 2008
~$0 As of August 16, 2008
~$334,250 As of July 9, 2008
~$317,800 As of June 12, 2008
~$418,333 As of May 1, 2008
~$286,833 As of April 8, 2008
~$180,000 As of March 8, 2008
~$344,250 As of February 7, 2008
~$349,000 As of January 8, 2008
~$262,442 As of December 9, 2007
~$243,125 As of November 7, 2007
~$645,500 As of October 4, 2007
~$331,000 As of Sept.1, 2007
~$349,073 AS OF AUG. 4, 2007
~$356,473 AS OF JUNE 24, 2007
Average Asking Price $350,256
Lowest SALE Price $250,000
Highest SALE Price $309,000
GOOD NEWS!!!!! Our absorption rate absorption rate is now down to 7 months! October, November and December has seen a steady increase in the absorption rate, but the month of January showed a decline.
Why? It is more than likely due to a number of factors, with the big one being the very affordable interest rates.
How does this effect you?
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.
I need to expand on the last paragraph about multiple offers. Contrary to news reports which indicate NOONE is buying homes, there are plenty of buyers out there taking advantage of the lower home prices combined with the very low interest rates. Interest rates right now are at the same historically low rates that they were at in 2004 (5.5% is average) at the height of the sellers market when homes were selling at prices 25% higher than they are now. Two of the homes that I have on the market right now have multiple offers on them, one listing has 4 offers the other has 2. This allows a seller the right to be picky on the terms, get more money, get a better qualified buyer!
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
If you currently rent an apartment, single family home, condo, or some other type of housing please read this.
Due to the unfortunately large number of foreclosures innocent renters are being forcibly displaced. Fannie Mae is now taken steps to prevent or delay the evictions on homes that they foreclose upon.
Please read the following article:
Fannie Mae Announces National REO Rental Policy
Not all properties are Fannie Mae foreclosures so you would need to verify if this applies to you. Fannie Mae will be notifying tenants in their properties of this availability.
With the home prices being so affordable and interest rates at historic lows maybe buying the home from Fannie Mae is a good financial option for you.
Bobbie Files
Your Bristol and Plymouth County Realtor
508-238-5000 x.296 Office
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
Should I wait or should I buy?......this seems to be the biggest and most frequent question in the market today.
Why a person or couple is looking to buy is the question we need to have answered BEFORE we can even think of answering the should I wait or should I buy question.
What we need to determine is if the house is to be used as an investment or a lifestyle asset.
Are the buyers looking for a home to set their roots, perhaps start a family, become an active member in a community?
Or is this for a short term period, under 3 years, than to move on?
As a lifestyle asset it is a perfect time to buy as interest rates are at historic lows and home prices are down by almost 18% from what they were 2 years ago. You will be in your new home for many years to come, and as with all economic cycles (this isn't the first recession) it too will pass and you will have had the enjoyment of your own home.
Just to give you an idea of how much a monthly payment would be for the purchase of a home at the average home sale price amount:
FHA mortgage for $241,500 on a $250,000 home. The interest rate at 5.75% for a 30-year fixed rate loan, yielding a monthly payment of only about $1,765 - just about $200 more than the rent you would be paying on a smaller home. The tax savings will more than offset that, as well as his property taxes and insurance.
The mortgage interest deduction on your taxes would be $13,800 and the property tax deduction would be $2,500
As an investment to hold for a very short period this MAY not be the time for you, unless you purchase a home (more than likely a foreclosed property) that is priced below market to unload and needs some cosmetic attention that you have the capability of handling without the necessity of expensive general contractors. If it is purchased very smartly with much research you can do okay.
Bobbie Files
Your Bristol and Plymouth County Realtor
508-238-5000 x.296 Office
bobbiefiles@kw.com Email
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
Heads up
REMEMBER: Cell Phone Numbers Go Public today
REMINDER... all cell phone numbers are being released to telemarketing companies and you will start to receive sale calls.
.... YOU WILL BE CHARGED FOR THESE CALLS
To prevent this, call the following number from your cell phone: 888-382-1222.
It is the National DO NOT CALL list. It will only take a minute of your time. It blocks your number for five (5) years. You must call from the cell phone number you want to have blocked . You cannot call from a different phone number.
HELP OTHERS BY PASSING THIS ON TO ALL YOUR FRIENDS.. It takes about 20 seconds
Bobbie Files
Your Bristol and Plymouth County Realtor
508-238-5000 x.296 Office
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
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Information on SouthEastern Massachusetts including Bristol and Plymouth Counties. Visit www.BerkleyMass.com for area resources and to search the MLS for your new home.
The Greater Taunton/Berkley area is approximately 25 miles south of Boston, 30 miles west of Cape Cod and 15 miles north of Providence. The location is perfect for commuters as it has access to Route 24, Route 495 and is 15 miles from Route 95. With the commuter rail line in Lakeville, driving to Boston is no longer necessary.
I cover all aspects of Residential Real Estate however, I most enjoy working with first time homebuyers. I find working with a first time homebuyer one of the most rewarding parts of my business. I specialize in the Berkley and Greater Taunton Areas.
The marketing and sale of seller distressed properties, Short Sales, is a specialty that I have been highly trained and educated in and is also the area that I have more experience than most other agents. I regularly teach classes to agents at my company on how to effectively handle these types of sales.
Most of the agents currently in the industry have under 5 years of experience which can leave you at a disadvantage. That level is fine in an "Order Taker's" Market or more commonly known as a Seller's Market as there is minimal skill and marketing experience needed. Having someone with over 14 years of experience in your corner will give you a level of comfort that all details of the transaction are being handled properly so that you can have a smooth purchase or sale.
For some real estate tips and pointers visit www.berkleymass.com
Thanks a million times! I never heard of a short sale, but you did it! Life is easier for me now. Thanks again!
George F. Freetown
Bobbie again you helped me!! You know I couldn't have done this without you. Thanks for everything.
S.F., Assonet
I got the right house at the right price! You worked very hard to find and then help me purchase my home. Thank you.
L.W. Assonet
You got us out of a very bad situation and we greatly appreciate it!
K.K. Berkley
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