“World's Most Complete Neighborpedia”
Explore:   What's happening in your neck of the woods?

Lori Lincoln- Taunton to Attleboro MA Rehoboth, Dighton, Swansea, Attleboro

Taunton-Rehoboth-Attleboro Real Estate- Interpreting the Housing Stimulus

What a complex undertaking. So many questions, not enough answers

Here's what I interpret so far:

1. An $8000.00 tax credit will be awarded to first time home buyers who buy a home between December 2008 and December 2009. The credit will be awarded to new homeowners who haven't owned a home in over 3 years.

2. Foreclosures: Millions of distressed homeowners will be helped through interest rate reductions, principal balance reductions and more. The government is urging or mandating banks to reduce monthly payments on loans to 31% of the borrowers income and fix this payment for 5 years or more.

The big question: Will this bill really help reduce the number of foreclosures?

My take: If the rest of the stimulus package works, market values of homes may start to stabilize in some parts of Bristol County Massachusetts. Now don't get me wrong, I said STABILIZE. Some home owners and others actually think we will start seeing gains in home value next year. I believe we have much longer..but woulld love for somebody to prove me wrong!

The good news: 92% of the country still are gainfully employed

The other good news: 90% of home owners in this country are NOT in arrears on their mortgage.

AND.. the other great news: bank owned homes will not be as plentiful. Nobody can predict the future, including me. We can only offer opinions on what we see right now. Anything can change.

Either way, it is always a great time to buy well great property.

Lori Lincoln of Keller Williams Realty is an Educated Realtor/Consultant who puts her clients first. Lori Lincoln communicates with her clients her experience and knowledge of current trends, mortgage news and more so they wil make the most informed Real Estate Decision

Shifting Markets Require Educated Agents.. That Consult and Care! 7 things that Bug Me.

So I've seen and heard some craziness among a few individuals in our profession. Most of the unprofessionals left the business, but I still observe some these pet peeves of mine at times. I am not the perfect one, so if you ever catch me in any of the following, speak up!

1. Short Sales- my pet peeve is working with the other agent who represents the other side of the transaction and they just aren't educated on how short sales work. .. the good, the bad.. the ugly. My opinion.. if you don't know about short sales.. get educated BEFORE you start working with buyers and sellers, because they are trusting their Realtor to know and help them. You cannot be their fiduciaryagent if you aren't educated.

2. First Time Buyers and Bank Owned Property-many times buyers agents just don't educate themselves enough to inform their buyers that their lender's chance of approving a loan for a home with no heat, busted pipes and lots of fixes are slim to none!

3. Pre-Approval Letters- A real big one. A buyer called me earlier this week saying he was pre-approved. I looked at the letter and it said he was pre-qualified. I prefer to have a trusted loan officer consult and take a full application using desktop underwriting. This young man was mis-led, and his bubble was burst.

4. Over the Top Over Priced Listings- Why do we still see 70% of our home listings overpriced. Why take a listing, invest your hard earned money and precious time on something that will not sell? We are all guilty of this... some more than others. What the heck are we hoping for?.. some schmuck buyer to fall from the sky who has "sucker" written all over himself? I still see them $100,000 over priced. We do such a disservice to our sellers and the public when we aren't upfront about the comparables, absorption rates, etc.

5. No Photos - Another big one. I cannot tell you how many buyers tell me that they prefer to shop online first. They will pick the homes they like based on the interior and exterior photos. If a listings has just one or two pictures, they will think something is wrong with the house. So now the listing just sits and sits.. 300..400.. 500.. 600 days on the market. OUCH!

6. MLS Descriptions on listings-Did you know that it is a given that the buyer expects the heating system to work, the septic system to be in good operating order. and the words "Motivated Seller" cry out "I'm desperate.". Please stop listing the mechanicals. Use this valuable MLS space to "sell" the reasons why a buyer might like the house. Instead of using "Motivated Seller", just get them to reduce the price.

7. Allowing Buyers to view homes on lock box without you, the agent- Did you know that if something were to happen, you could be held responsible? Your buyer could get hurt.. and if they went to the property without their agent, fell down on ice, stairs etc.. just NOT A GOOD IDEA.. Furthermore, it isn't the right thing. If you cannot make it, schedule a time when you can. IF the buyer doesn't understand and wants to work with someone else because you won't let them go alone.. find another buyer, it just isn't worth the angst.

Rehoboth Ma Real Estate- More Banks Really Are Likely Work With Homeowers Who Are Late With Their Mortgage.. if The Homeowner communicates.

I met with a woman this past summer that was 3 months past due with her mortgage. I recommended that she call the bank and see if she can get them to help her stay in her home. She lost her high paying job, took a new job that where she was earning far less than what she was when she first bought her home. Further, she has a pay option arm mortgage.

The homeowner called me this morning and informed me of how grateful she was:

She worked out minimum monthly payment agreement for 6 months with her mortgage company last month.

However...

This month she couldn't make the payment again, but she called her bank. She indicated that the Loss Mitigator was compassionate and understanding.

The bank gave her another agreement for 6 months until she "got back on her feet". this time, the bank lowered the payment signifigantly lower than the last agreed upon amount, the homeowner felt that her new payment would help her keep her home. They also said she could wait until February 15th to make her first new, new payment!!

The bank also said she should call "Hope Now" a non-profit organization that will advise and assist homeowners who are behind in their payments. Some options are: Short Sale, Deed in Lieu of Foreclosure, Loan Modification and Refinance.

I cannot give the rest of the

We see people loosing their homes every day. If the homeowners see a problem, they should call their bank as soon as possible. The bank really doesn't want to foreclose. It costs them more money to repossess the house.

Since home prices have drastically fallen, more and more financial institutions are not as quite as quick to play the foreclosure card.

Moral: If you are falling behind on your mortgage payments.. CALL YOUR BANK or Mortgage Company right away.. you

Lori Lincoln is a successful Professional Realtor/Consultant with Keller Williams Realty. Lori Lincoln is one of the few educated full time professionals in the area that works on a higher level

Lori sells homes in Rehoboth, Taunton, Dighton, Assonet, and other Surrounding Communities in Bristol County Massachusetts.

You can reach Lori

Hot Deals on Government Owned Property- Best Buys

Keller Williams is a registered HUD Broker. We have access to and right to sell to all HUD Properties in the state. HUD gives its registered brokers the right to advertise their listings without the permission of the listing agent.

HUD house in Attleboro 6 room 4 Bedroom Home in Attleboro for 119,500 .

2 bedroom 1. 5 bath condo in Easton for sale. 112,500

2 bedroom Condo in Easton

2 Bedroom in Somerset $165,000 on County Street

Somerset HUD home

3 Bedroom in Taunton listed for $141,300. Good size yard

Taunton HUD Home 62 Kilmer

HUD stands for Housing Uban Development. HUD likes to see owner occupants purchase their properties.

If you or someone you know would like to know more about purchasing a HUD owned home, or would like to know what HUD is, please contact Lori Lincoln at Keller Williams Realty 508-878-0917. For a complete list of HUD properties throughout the state email loriLincoln@kw.com

website:http://www.LincolnTeamRealEstate.com

Taunton Massachusetts Home Values Market Trends- January 20, 2009

Currently there are 317 homes in Taunton MA on the market including condos, multifamilies and single family homes

61 Are Multifamily properties,

172 are single family homes,

32 Homes are pending/under agreement

26 homes were sold from December 1, 2008-December 31, 2008

Taunton home values continue to decline which presents buyers a rare opportunity to move into an affordable home

Outlook for 2009: We will continue to see more bank owned properties and short sale property come on the market as pay option arms reset.

Bright Spots: Interest rates are hovering around 5%, Buyers are taking advantage of the bargains.

__________________________________________________________________________________________________

Lori Lincoln

Your Professional Realtor of Choice for the Taunton Area and surrounding communities. Pro-Active, High Communication, tech-savvy

Keller Williams Realty

http://LoriLincolnTeam.com

email: LoriLincoln@KW.com

You can request a current copy of my "BEST BUYS OF THE WEEK" with a quick email to lorilincoln@kw.com

Visit my website to see all MLS listings in Massachusetts at http://LoriLincolnTeam.com