Buying or Selling in Greater Fall River, MA - Realtor Karen Archambault McLinden

The bank owned properties are multiplying before our eyes. Boarded up single family and multi family homes.

No longer do we work side by side with our local realtors. In this market we work with the listing agents who are not from around here, who easily carry 100 listings in Massachusetts and Rhode Island from different banks, who have no idea what the properties even look like because they hired a company to secure the building and put a lock box on it.

We never meet or see this listing agent. We may speak to them on the phone but they don't know who we are as we re-introduce ourselves every time we call. Investors simply give us the addresses of the properties they are interested in and we call each agent, or the new MA pass, to get the lock box combinations. We drive from one property to the next each vacant, colder inside than out from being sealed up with heating systems drained of all water and power turned off.

You wander through unknowingly where each room will lead. No agent is there to tell you about the neighbors or the age of the roof or when updates to the house were done. You are alone wondering what happened to the owners. Sad to know this was someones home.

Each showing only takes 15-20 minutes to show until you are on to the next. No tenants to call ahead of time to get permission to be let in. No smells of cooking or home. Just cold, dark rooms. Low offers are presented and the few that do end up selling usually still take months to close because of the title issues that come up with this or that paper missing at the registry from when the bank took the house.

Sometimes they close....sometimes the buyer gets tired of waiting and walks away.

This is what it is like to sell bank owned property in Southeastern Massachusetts today.

My office offers Training and we have a Mentoring Program to make sure you know everything you need to know to get to the closing! We don't just leave you wondering how to make a career in real estate, we show you the way.

If it is something that you have thought about please fell free to call or email me and I would be happy to answer any questions you have and tell you all about it!

Homeownership comes with a lot of advantages, especially when it comes to tax time. Make sure you're not missing out on important home-related tax deductions. Here are some things you may be able to deduct:

1. Deducting Mortgage Interest- The interest you pay on a home mortgage is usually tax-deductible. Every year, you should receive a "Form 1098" from your lender which details how much mortgage interest you paid. Home mortgage interest deductions can also include late payment charges and pre-payment penalties.

2. Deducting Real Estate Taxes - Real estate taxes are also tax-deductible. Your interest statement should list the amount of real estate taxes you paid if your taxes and homeowners insurance were placed in an escrow account when you closed on your mortgage. If your real estate taxes aren't included on the statement, review your cancelled checks to figure out the total amount of real estate taxes paid.

3. Deducting Mortgage Discount Points Paid on a Purchase - The points you pay on a loan for a home purchase are tax-deductible for the year you made the purchase. You can deduct the points you paid as well as those a seller paid on your behalf if you meet the criteria.

4. Deducting Seller Concessions - Sometimes, the seller will contribute money to the buyer to help cover the buyer's loan closing costs. The average concession is 3% of the sales price.

5. Deducting Loan Points Paid on a Refinance - If you refinanced in the last year, you may be able to deduct any points you paid to buy down the mortgage rate. If you have refinanced more than once, you may be able to deduct unclaimed points from an earlier refinance.

6. Deducting Interest on a Home Equity Loan - Interest paid on a home equity loan or line of credit may be tax-deductible. However, the deduction may be limited if the combined amount of your second and first mortgages total more than the property's actual value.

As always, please consult your tax advisor to find out which deductions apply to you.

Happy tax returns!!

When you are thinking about buying real estate where do you start?

Do you just find a house that you may be interested in and call the listing agent and then keep looking with them? Or do you keep calling the listing agent on each property you find?? Or are you finding a Realtor first through recommendations and word of mouth and then having them help you search for property? Or are you finding a Realtor online through sites like ActiveRain?

Where do you finding the listings?? Has a Realtor set you up in the MLS to send you emails daily or is there a website out there where you look?

Do you get pre-approved first or find a Realtor first?

I would love to hear from all of you to see what you are doing.

Let me know how you started buying, what you thought of the experience and how it could have been better.

With your stories maybe we can make the experience better!

This just came across my desk and I thought I would pass it along. Click on the link below to pay $14 for $28 Providence Bruins Tickets! These games are always fun to bring the family.

$14 for a Ticket to Any Regular-Season Providence Bruins Home Game (Up to $28 Value)

Price: $14 Value: $28 Savings: $14

Enjoy the game!