Martin Kalisker, WEICHERT, REALTORS®- Synergy: Metrowest's Preferred Realtor

On April 28, the Obama Administration came out with additional details of the Treasury's plan to help bring relief to responsible homeowners under the Making Home Affordable Program. This includes, but is not limited to, measures to achieve greater affordability for existing homeowners by lowering payments on their second mortgages as well as a additional guidance help underwater borrowers stay in their homes - all coined under the phrase "Parallel Second Lien Program to Help Homeowners Achieve Greater Affordability and the Integration of Hope for Homeowners to Help Underwater Borrowers Regain Equity in their Homes."

Click here to read the entire press release and to see examples under the Parallel Second Lien Program.

This is great news for distressed homeowners, and another way Certified Loss Mitigation Specialists (LMC) to stand out from the pack and demonstrate their knowledge of this important topic.

It is interesting to note, that in a Linked-In discussion on this topic, one Realtor commented that, although the new parallel second lien program will help many of our existing clients who have listed their homes for sale "pre-foreclosure" or "short sale", it is also aimed to reduce these types of listings - now and in the future. So, how do Realtors react when the short sale listing gets pulled because the homeowner now has a new vehicle to help them stay in their homes? What will you do with all of the time, effort and marketing costs associated with a short sale listing - only to see it pulled off of the market because the seller received assistance under the Parallel Second Lien Program? Do Realtors need to start charging a "retainer" for these listings that will only be offset against the commission due at closing?

What are your thoughts?

As of March 31, 2009, there were 55 single family listings in Dover on the Multiple Listing Service (MLSPin). During March, 11 new single family listings were added to our MLSPin and an additional 3 single family homes were relisted for sale on the MLS, with an average list price of $2,627,718.

Based on the number of active single family listings versus the number of sales during the month, there is a market absorption rate of 55 months. That is to say, based on the volume of sales during the past month, it will take over 4 years to sell all of the single family homes currently in inventory and sitting on the Dover market. Although one may doubt the validity of the market absorption rate quoted - please don't lose sight on what it is based on - number of properties available and number of homes sold. The rate of 55 months may not be realistic, but it is indicative of a whole lot of supply and a whole little of demand.

The average list price for a single family home is $1,861,094. The lowest price is $149,900 and the highest price is $8,995,000, with the largest concentration of homes (58.2%) priced in the $1,000,000 to $1,999,999 price range. Of note, the average list price for a single family home in March 2008 was $1,767,816.

The median price is $1,349,000 and the average days on market are 223 days. This compares to a median list price of $1,437,000 and average days on market of 239 days as of March 31, 2008.

There were 6 properties that went under agreement during the month of March (March 2008- 3 properties). 1 single family home sold during the month, with a sales price of $1,245,000 and the days on market being 995 days. Compare this to 4 properties sold during March 2008, with an average and median sales price of $705,725 and $702,450, respectively, and the average number of days on market being 162 days.

During March 2009:

10 properties experienced price changes averaging -7.34%

Sales price to original price was 76%

Sales price to (last) adjusted price was 94%

1 property listing expired with a days on market of 91 days

Is now the right time to sell your home? Contact WEICHERT, REALTORS®-Synergy for a complimentary Price Trend Analysis that you can use to evaluate your options.

Looking for other options? Meet with a local Weichert neighborhood specialist to discuss how our expertise can provide you with a competitive edge in selling your property. Stop chasing the market. Let the market chase you! Contact us now at http://synergy-metrowest.com/cma.htm

http://www.synergy-metrowest.com

As of March 31, 2009, there were 41 single family listings in Sherborn on the Multiple Listing Service (MLSPin). During March, 10 new single family listings were added to our MLSPin and an additional 2 single family homes were relisted for sale on the MLS, with an average list price of $624,159. Inventory levels are building and supply is now far exceeding demand - especially in the higher end of the Sherborn market. Now may be a great time to buy, but if owners don't need to sell, they would be well advised to either hold off for a while or price their homes to sell today, because there will be even more homes competing with overpriced listings tomorrow.

Based on the number of active single family listings versus the number of sales during the month, there is a market absorption rate of 20.5 months. That is to say, based on the volume of sales during the past month, it will take 20.5 months to sell all of the single family homes currently in inventory and sitting on the Sherborn market.

The average list price for a single family home is $963,611. The lowest price is $199,000 and the highest price is $4,000,000, with the largest concentration of homes (53.7%) priced in the $500,000 to $999,999 price range. Of note, the average list price for a single family home in March 2008 was $1,078,257.

The median price is $799,000 and the average days on market are 250 days. This compares to a median list price of $843,500 and average days on market of 202 days as of March 31, 2008.

There were 2 properties that went under agreement during the month of March (March 2008- 5 properties). 2 single family homes sold during the month, with the average and median sales price being $837,000, with the average days on market being 257 days. Compare this to 0 properties sold during March 2008.

During March 2009:

18 properties experienced price changes averaging -5.18%

Sales price to original price was 97%

Sales price to (last) adjusted price was 97%

2 property listings expired with an average days on market of 194 days

Is now the right time to sell your home? Contact WEICHERT, REALTORS®-Synergy for a complimentary Price Trend Analysis that you can use to evaluate your options.

Looking for other options? Meet with a local Weichert neighborhood specialist to discuss how our expertise can provide you with a competitive edge in selling your property. Stop chasing the market. Let the market chase you! Contact us now at http://synergy-metrowest.com/cma.htm

http://www.synergy-metrowest.com

We've all heard about it on the news. Get the facts.

Click Here to view the Swine Flu Public Health Fact Sheet issued by the Massachusetts Department of Public Health.

There are now many confirmed cases of Swine Flu in the United States and also some pending confirmation right here in Massachusetts. If you demonstrate any of the flu-like symptoms - such as fever, cough, sore throat and/or body aches, headache, chills and fatigue - see your doctor right away.

Please tell every dog or cat owner you know. Even if you don't have a pet, please pass this message along to those who do.

I'm not sure how current this story is, or if I have all the facts straight, but the underlying message is important if you love your pet.

Recently, the caring owner of two lovable mutts purchased Cocoa Mulch from a major retailer to fix the landscaping in their garden. They really liked the way it smelled and it was advertised to keep cats away from their garden. One of their dogs decided that the mulch smelled good enough to eat and devoured a large helping. Although she vomited a few times which wasn't unusual given that it wasn't exactly puppy chow that she had eaten, and because she wasn't acting lethargic in any way, the owners weren't alarmed. In fact, the next day, one of the owners woke up and took the dogs out for a morning walk . Half way through the walk, the dog who had ingested the cocoa mulch had a seizure and died instantly.

Although the mulch had NO warnings printed on the label, upon further investigation on the company's website, this product is HIGHLY toxic to dogs and cats.

Cocoa Mulch, which is manufactured by a leading candy manufacturer, defended itself by saying "While it is true that studies have shown that 50% of the dogs that eat Cocoa Mulch can suffer physical harm to a variety of degrees (depending on each individual dog)... 98% of all dogs won't eat it. '

This Snopes site gives the following information:

"Cocoa Mulch, which is sold by many leading home and garden centers across the country, contains a lethal ingredient called Theobromine. It is lethal to dogs and cats. It smells like chocolate and if your dogs are like mine, the scent is very attractive to them. If they ingest this stuff, they can die. There are reports of several other deaths in the last 2-3 weeks. Theobromine is in all chocolate, especially dark or baker's chocolate which is also toxic to dogs. Cocoa bean shells contain potentially toxic quantities of theobromine, a xanthine compound similar in effects to caffeine and theophylline. A dog that ingested a lethal quantity of garden mulch made from cacao bean shells developed severe convulsions and died 17 hours later. Analysis of the stomach contents and the ingested cacao bean shells revealed the presence of lethal amounts of theobromine. "

IF YOU LOVE YOUR DOG, KEEP THEM AWAY FROM CHOCOLATE AND ANY THING MADE FROM COCOA OR WITH THEOBROMINE.