Property valuies have dropped nearly 20% in the past two years, as if you needed me to tell you that. Well, Fiscal Year 2009 property tax abatement forms are due by February 2nd and take a peek at the value that they are charging you taxes on. Properties are valued as of the previous January 1st (January 1, 2008, for FY2009), and the values reflect the market that existed at that time. Since the values have decreased since that date a property tax abatement could save you a few hundred dollars.
Contact me by email bobbiefiles@kw.com and I can send you the abatement form.
I also can assist you by emailing you comparable homes to yours that sold in the past 12 months to support the right to the abatement.
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
I am sitting here working on my daily agenda. Thinking about my 20% that MUST be done and how much of the 80% I can't fit in.
Well, I have the t.v. on as background noise on CNN - maybe I can subliminally digest some pertinent information. I am sure this is a repeat BUT I know it is from a recent show, as the economy is being discussed.
Suze Orman is the guest speaker giving out her financial advice to people calling in. She made 2 statements that both amazed and shocked me at the same time.
1.) In her usual style she talked about the reserves every family or person should have - she recommends 8 months by the way. Well, she went on to say that if you have reserves in place and are looking for a place to invest your money, she gave a recommendation for Real Estate. YEAH!! She did caution that this may not be the wise move for everybody. If you will be needing the money in the next 5 years than this probably isn't the type of investment for you, but to hold it for 7 or more years you can make some money. She also indicated that a first time buyer is in a great place right now! Interest rates are at a historic low and home prices are at an affordable level.
2.) A real estate agent called in to go over her finances and her recommendation was to leave the business and get a "real" job. Now I agree that real estate isn't for everyone and for purely selfish reasons I am happy that agents are fleeing the business for a job with a weekly paycheck. BUT, if you put in the right kind of time, doing the right types of activities, focusing on your daily lead generation and having clearly defined goals you CAN make it!!
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
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 December 1, 2008- December 31,2008.
Single Family Homes
Number of Homes on Market 37 (down 2 from last report)
Average Days on the Market 208 - up over 30 - YIKES!!!
Number of Homes U.A.G 2
Average Price of U.A.G. Homes $299,700
Number of Homes Sold 2
Average Sold Price $250,000
~$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 $364,624
Lowest SALE Price $238,000
Highest SALE Price $262,000
Unfortunately based on the facts of record our absorption rate went up YET again. Now we are at a 9 month absorption rate, up 2 months from last month's market report. October, November and now unfortunatley December has seen a steady increase in the absorption rate. During the summer months of '08 we were leveling out, but that has changed. How much longer will the absorption rates rise? That remains to be seen.
How does this effect you?
Well it is a fairly easy computation. When a market is losing value any additional time on the market COSTS you money. As a homeowner that needs or wants to sell you need to take a long hard look at the homes that have sold and look objectively not emotionally at your property. If your neighbor's home sold for $285,000 2 months ago you need to add an additional month to that (for the time between when the offer was made and accepted and the closing actually takes place) than add up the decreasing percentage and subtract that amount off of the neighbor's sale price. Any higher of an asking price may result in your home selling for substantially less money many months later.
Remember: Time is NOT on your side in a declining market.
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: www.ShortSaleMassachusetts.com
The Numbers below speak for themself!!
By no small amount Keller Williams Realty, Easton MA is the area's Number 1 Real Estate Company!!
As you can see Keller Williams Agents Sell 2 Times the number of homes than the company rated #2!!!! We are some of the most educated, experienced agents in the industry and certainly the hardest working!
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
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: www.ShortSaleMassachusetts.com
Why can't I re-negotiate my commission in the offer??
"Hi, my name is Mary and I have an offer for your listing and I don't like what the seller and/or you are paying me so I put into the offer that it is subject to me getting $1,000,000.00 or this is not a deal!"
Okay, now that may be just a wee-bit more drastic than I ever see it but nevertheless it means the same thing.
I am offering 2.5%, or whatever it is that I negotiated with my seller at the signing of the contract to sell, to pay you for bringing a ready, willing and able buyer. You know that due to the statement in MLS and still you show the home, my assumption would be that you are carrying out your professional and ethical obligation to service your buyer to the best of your ability and that included showing this home which either you or your buyer feel may be a good fit.
Than you and your buyer write up an Offer to Purchase and under Additional Provisions you add a statement indicating that the offer is - Subject to: the seller paying you $1,000,000.00 for your fee as a Buyer's Agent.
WHAT?!?!?!!?
Let me give you a portion of the Code of Ethics
Standard of Practice 16-16
REALTORS®, acting as subagents or buyer/tenant representatives or
brokers, shall not use the terms of an offer to purchase/lease to
attempt to modify the listing broker’s offer of compensation to
subagents or buyer/tenant representatives or brokers nor make the
submission of an executed offer to purchase/lease contingent on the
listing broker’s agreement to modify the offer of compensation.
Now I could give it to you it a more layman's terminology:
Extortion: Prounced: \ik-ˈstȯr-shən\ -
the act or practice of extorting especially money or other property
If you are working with a Buyer as a Buyer's Agent and you have a C-O-N-T-R-A-C-T that the Buyer's have agreed to that says they will pay you a fee of $1,000,000.00 for assisting them in the finding and negotiating the purchase of a home that is YOUR contract with YOUR Buyer.
That is now not all of a sudden POOF the contract between the Seller and/or the Seller's Agent. This is still YOUR Agreement and it is your duty and burden to find means to collect.
Now I understand the typical justification for this "Well, the buyer is paying for the home so therefore they are paying for the commission"
Well my rebuttal is "The seller is receiving money for the purchase of the home but is not receiveing that money so therefore they are paying".
We can go round and round on that, and both sides are correct. But that is not the argument. The Code of Ethics is quite clear on this. Don't place your compensation request, agreement or demand on the Offer to Purchase. Or even better yet don't add an additional agreement rejecting the commission being offered and substituting it for what you want.
If the buyer did agree to pay you $1,000,000.00 to assist them, than it needs to appear as a closing cost on the buyer side. YES, dear agents, there is a buyer's side on the HUD-1 and it has a space on the commission line as well.
The same way as commission is a closing cost for the seller as with any other fee they need to pay, a Brokerage Fee can appear on the Buyer side as a fee they need to pay - like Attorney's Fees. Or you can have a contract that they pay you a deposit to secure your services with the balance to be paid from cooperating compensation and a closing cost for the Buyer.
But for heaven's sake STOP placing it on the Offer to Purchase!
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: www.ShortSaleMassachusetts.com
 |
|
|
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
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
