Carole Helwig, Servicing Acton, Sudbury and Hudson, MA

Even though it will be 5 degrees tonight and there is still feet of snow on the ground, the spring real estate market is already beginning to heat up in Middlesex and Worcester Counties.

Here are a few tips on how to prepare your home for sale.

First impression are everything so don't forget curb appeal.
I know it seems like a dream that we will actually be in a place soon to undertake these items, but before you know it, we will hear the robins chirping and see the lawn.
Make sure your front door is in good shape, repair cracks in the driveway and front walk, clean out gutters and trim the lawn and shrubs.

Decorate for a quick sale.
Spruce up your walls with a fresh coat of neutral paint. Make sure to also touch up the molding and ceilings.

De-clutter every room in the house.
This includes everything from top to bottom-kitchens, bedrooms, attics, garages and basements! Closets, cupboards and every nook and crannie.

Repairs can make a big difference.
Loose knobs, dripping faucets, sticking windows, warped cabinet drawers and other minor flaws detract from a home's value.

If you are considering selling your house in the near future, now is the time to roll up your sleeves and get to work.

Despite the winter weather we are in the midst of in MA over the past few days, we are beginning to see some activity that is the beginning of the spring market.
When supply exceeds demand, buyers have the upper hand. When we talk about a "seller's market" or "buyer's market", what does that really mean?
A seller's market is when the supply, or commonly referred to as "inventory" is less than 6 months.
A buyer's market is when the inventory is more than 6 months.
So how is this determined?
It's called an absorption rate and it is calculated by the dividing the number of active listings by the number of sold properties over the past year.

Nationally, the current supply of single family homes for sale now stands at 12.5 months. That means that at today's pace of home sales, it would take 12 1/2 months for the existing inventory to sell. For the buyer, that means lots of choices, lots of negotiating power, and smart sellers are competing for your business.

Locally, our numbers are different.
Over the next few days, I'll list, by town what's going on.
Acton 62 homes on the market vs. 188 sales in the past 12 months
This means that there is currently a 4 month supply of inventory on the market.
Additional information is:
120 Average days on market vs. 77 days on the market for the sold properties
$514,950 Median price vs. $532,500 Median Price of sold properties
In Acton, the sold properties were on average, on the market 46% less time than those that are currently for sale, and the median sale price was 3% higher than those still on the market.
Time and price...these are the key numbers.
So, although we have a seller's market according to the supply of inventory, the houses that are selling are priced to compete with the other properties on the market.

Watch for the next town I'll profile!

In a disturbing act, over the holiday season, the Acton Food Pantry was robbed of several thousands of dollars of food that had been contributed to the organization.

The thief was apprehended last week after it was revealed that the man had made several "withdrawals" from the pantry's inventory. As reported by the local news feed Wicked Local, a security camera recorded the same man repeatedly entering the pantry and stealing the food.

Yes, we are in challenging times with many going without. That's why the food pantries are there...to help those in need. Apparently, this particular man was taking much more than one household would need, and as reported, the pantry's executive director believes this man was acting out of opportunity rather than need.

A sad state of affairs...most definitely.

If you reside in MA, and more specifically, anywhere near Acton, they are having a donation drive to replenish their donations. Information is below.

Every major price index points to a housing market that has hit bottom and is moving in a positive direction. After thirty months of declining values, home prices appear to be stabilizing or appreciating in nearly every U.S. market. In August of 2010, the median home price was $182,600, amounting to an 11 percent increase over the low that was reached in February of 2010 at $164,000.

Locally, our housing market has been experiencing declining values for 5 years! MA was one of the first states to experience the shift in the market.
Using the same time frame that we used on the national level, in August of 2010 in Middlesex County, the median house price was $430,000.
That amounted to a 13 percent increase over February 2010 at $375,000.

Staying on the fence and waiting for prices to drip further is over.
Staying on the fence and hoping interest rates won't go up will only decrease your buying power.
After reading these statistics, what will keep you from buying a home this spring?

The MA State Judicial Court on Friday made a ruling on foreclosures is predicted to have far reaching affects, most likely nation wide. Basically, it voided 2 foreclosures due to questions that arose over whether the mortgage companies that foreclosed had the assignment of ownership to actually allow them to foreclose.

The court decided that, since proper procedures were not followed, there was no legal transfer of the mortgage to the new bank. If the new bank didn’t legally own the loan, they had no right to foreclose on it.

There are a lot of opinions and a lot of unanswered questions about this ruling, so it will be interesting to see how it will all pan out over time.

If you are in the market to buy or sell, realize that the inventory of foreclosed properties that had been scheduled to hit the market in the first half of 2011 may be delayed.
The New York Times reported:

• An array of federal and state investigations into the way banks foreclose on delinquent homeowners has contributed to a sharp slowdown in foreclosures across the country…
• In the meantime, what does it mean for buyers and sellers right now?
• The pace of foreclosures could be curtailed further by courts. In a closely watched case, the highest court in Massachusetts invalidated two foreclosures in that state on Friday…
• If the slowdown continued through this month and into the spring, it could be a boost for the economy. Reducing foreclosures in a meaningful way would act to stabilize the housing market, real estate experts say.

So what's the bottom line?

If you are in the foreclosure process and think your rights have been impaired in any way, you should perhaps get legal counsel.
If you are thinking of selling, this has increased the window of opportunity you have to sell before this ‘discounted’ inventory comes to market.
If you are buying, prices may not soften any further to later in the year. Many are predicting that interest rates will rise as we go through the year. If you are thinking of buying in the next six months, now might be an opportune time.