I heard this statement today " There are 2 buyers now for every property" and now I know how to communicate this news to the sellers, buyers and agents that may not be aware:
Did you know that there are now 2 buyers for every house on the market? Yes, the buyer and the bank. We can prevent what we can predict. And yes homes get sold if we prepare all parties with the following information:
1. Title 5- Did you know that now the title 5's are scrutized by the underwriters at the bank? Did you know that if the system passes, and it is older, some banks won't accept an out of date plan.. the Title 5 inspector's new design is sometimes acceptable, sometimes though requires an engineer?
2. Appraisals- Even if an appraisal comes in at sales prices, the appraisals are reviewed, reviewed, reviewed by the bank and sometimes even 2nd and 3rd appraisals. Deals are being thrown on appraisals. Sellers sometimes think the buyer would be willing to pay the difference. I know I wouldn't buy a house that was over-valued, and most people wouldnt' The "unique buyers" are virtually non-existent.
3. FHA guidelines- always have been strict- but a great review- FHA and other government loan programs have strict safety guidelines, mandatory pest inspection/treatments, mandatory handrails, asbestos removal mandates, and more.
With all of the strict lending guidelines, we as a real estate community are still out selling homes. Transactions are occuring successfully if you prepare ahead. Most homes are sold within 95% of asking price.
Over-priced homes listed have a slim chance of being viewed by buyers.Buyers' agents educate their buyers. Buyers are looking for value to supercede price, and they really want to buy, not negotiate. This is why 20% of the homes on the market WILL sell. 80% won't.
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Lori Lincoln is a Realtor with Keller Williams Realty serving Bristol County Massachusetts including Taunton, Rehoboth, Dighton, Seekonk, Assonet, Freetown, Lakeville and surrounding cities and towns. Lori Lincoln consult and educates her clients, helping them achieve their home buying and selling goals.
You Can Reach Lori at 508-878-0917 or emal lorilincoln@kw.com
http://LincolnTeamRealEstate.com
Keller Williams Realty
Filed under: Market Conditions, For Sale, Finances, Buyer Information, Seller Information, MA, MLS, Rehoboth real estate Taunton homes MLS sell sale, Massachusettts Taunton real estate home homes house listings mls, massachusetts, taunton, dighton, homes, homes for sale, assonet, home value, foreclosure, Keller Williams Taunotn
WoW! What a month! May was an extremely busy month for me and many agents in my area. Three of my listings had multiple offers.. I never thought I'd see this again.
It just proves a point.. 80% of the homes on the market are priced out of the market 20% will sell in a timely manner. There are homes IN the market.. then there are homes that are just ON the market.
Buyers appreciate homes in great condition, nicely located real estate that is priced fair.
The $8000.00 tax credit with great interest rates for buyers has also helped. Higher end homes do not seem to be moving as quickly.
Stay tuned for the June Market reports which I will post this week for Assonet, Berkley, Taunton, Rehoboth, and Somerset.
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Lori Lincoln is a Realtor serving Bristol County Massachusetts including Taunton, Rehoboth, Dighton, Seekonk, Assonet, Freetown, Lakeville and surrounding cities and towns. Lori Lincoln consult and educates her clients, helping them achieve their home buying and selling goals.
You Can Reach Lori at 508-878-0917 or emal lorilincoln@kw.com
http://LincolnTeamRealEstate.com
Keller Williams Realty
The perfect storm, interest rates are below 6%, homes are very affordable, some parts of Bristol County where you can own a home for less than what you pay for rent! Now first time buyers can take advantage of the $8000.00 tax credit, if they purchase before December 1,2009.
Don't miss this opportunity, I've never seen it so good for buyers. Interest Rates are likely to rise over time. If they go up, you could price yourself out of the market.
As you know, I believe in educating my buyers...and sellers alike. If you are a first time home buyer, you can get this book for free by contacting me via email or by phone.
Call me or send me an email request to get this book for FREE!____________________________________________________________________________________________________
Lori Lincoln, of Keller Williams Realty
educates and consults her buyers and sellers in making the right decision on home buying and selling. Lori serves all of Bristol County MA and surrounding cities and towns including: Assonet, Berkley, Taunton, Rehoboth, Norton, Lakeville, Middleboro, Easton, Fall River, Dighton, Raynham, Easton, Swansea, Somerset and more
Looking to sell? Find out what your home is worth go to http://www.LincolnTeamRealEstate.com
email: lorilncoln@kw.com
phone: 508-878-0917
I am never too busy for your referrals.
Filed under: Market Conditions, For Sale, Buyer Information, Seller Information, MA, MLS, Rehoboth, Taunton MA Real Estate Bank Owned Rehoboth MLS Listings, Assonet Ma homes in for sale real estate seller, Massachusettts Taunton real estate home homes house listings mls, massachusetts, taunton, dighton, homes, assonet, home value, foreclosure
The way buyers buy home are based on
PRICE, LOCATION, CONDITION, STYLE 1. Fear of overpaying is a huge deal-They area afraid of paying too much, a huge issue today. Gas is expensive, heating costs will be a consideration this winter.
2. Condition- Buyers may look at your home if the price is low, but they will also consider the fix-ups and "shop up" instead of investing $30,000 in repairs, they will buy the home that needs nothing.
3. Curb appeal: Buyers do judge a book by its cover. Your front yard should be nicely landscaped and eye-appealing. Fresh paint or siding outside. Mulch, gardens. Make it look really nice!
4. Cleanliness and Decluttering- Be sure you keep your home clean, neat and tidy and smelling good. Hire a stager if it's in your budget. Staging alone can net you thousands more for your home.
5. Updated- Hardwoods are in! If you got 'em flaunt them. Remove ugly, stained or dated carpet and replace with hardwoods or new carpeting. The best choice is hardwood floors. Ceramic flooring in the kitchens and baths.
Granite or Corian countertops, maple or cherry cabinets. If you have dark oak, dingy or old looking cabinets, you may want to consider painting them white. Orange countertops- OUT!
By the way, buyers hate dark rooms. Brighten up all of your rooms with light neutral wall colors. Paneling is OUT!
Leave your appliances if they are in good working order.. Not leaving them gives buyers the impression that "this seller is cheap".
If you don't want to do any work before placing on the market you may as well just take it off the price.
Small fixes can save you from having to sell below market.
Turn offs: pet odors, dirty laundry hanging around, yard debris, cigarette or cigar smoke, unpopular walls or wall colors, holes in walls, shag carpet, dirty carpets, clutter ( especially around where the mechanical systems and electrical systems are located). Broken windows, torn screens.. welll now you're probably getting the picture.
My name is Lori Lincoln, I am a Realtor with Keller Williams Realty. I help buyers and sellers in Taunton, Rehoboth, Swansea, Somerset, Raynham, Assonet, Freetown, Middleboro, Lakeville, Berkley, Dighton and surrounding towns.
For more help and pointers on selling your home in today's market, go to the following link
Sellertips.com
Another Great Site for Online Home Value, MLS search (FREE)
http://www.BristolCountyHomeTeam.com
You can search thousands of listings in Bristol County Massachusetts here.
Filed under: Real Estate, MA, MLS, Rehoboth, massachusetts, realtor, real estate agent, dighton, homes, homes for sale, assonet, home value, agent, taunton MA Real Estate Bank Owned sell house
This market is overwhelmed with agents who haven't any experience in short sale properties. It can be a daunting experience for the sellers and the buyers.
My most recent short sale involved sellers who placed their home on the market with 2 different agents in 2 years prior to listing the home with me.
The first agent grossly overpriced the home, listing it as a regular listing. In the meantime, the sellers had such high hopes of selling for a price that never would be.
Hence, the listing expired, and in walks agent number 2 who also overprices the home giving the sellers high hopes of selling the home at a profit.
When the listing expired again, the seller called me. The first conversation with the sellers didn't go as well as they would have liked. Market statistics don't lie. If a home's market value is less than what the seller wants, it will not sell, short sale or not.
Long story longer.. the sellers owed the bank $100,000 more than market value.. YIKES! I listed the home at a lower price, reduced the price 3 times ( at the mercy of the sellers bank of course), then finally sold the home for full market value.. (not what the seller owed)
Sellers who are in financial trouble should be extremely honest with their agent. As professional agents, our responsibility is to protect your honor and keep conversations confidential.
Most sellers believe that their home will sell for a higher price than last year.. yes, even with all of the media stories on how our market is declining.
In this market, if an agent quickly agrees to list your home for what you want, without documenting and verifying market data, be cautious. Some agents just like to place their sign in the front of your yard for publicity only.
There is much education involved in the short sale process. I will be happy to provide a free, no obligation consultation.
You can reach me at 508-878-0917
Thank you for viewing my blog
Lori Lincoln, Taunton Massachusetts area Realtor
Keller Williams Realty
email: lorilincoln@kw.com
http://www.LoriLincolnTeam.com
Lori Lincoln, Keller Williams Realty lists and sells property in Taunton, Rehoboth, Swansea, Somerset, Fall River,Bristol County Massachusetts and surrounding communities http://lorilincolnteam.com
Filed under: Real Estate, MA, MLS, Rehoboth, massachusetts, taunton, realtor, top producer, real estate agent, dighton, homes, homes for sale, assonet, home value, agent, short sale, foreclosure
In these time where everything is expensive. I wonder how and what I can help my clients and myself save money on cleaning their home. Here are some of things I do:
Bleach- my best friend- use diluted for kitchens, baths, laundry, light colored floors, it cleans and kills germs too. can be toxic
Baking Soda- usually less than $1.00 a box. You can use to deodorize the garbage disposal, freshen the fridge, use as an abrasive on stubborn stains, bleach out white clothing.
White Vinegar- Because of its acidity, it cuts right through grease. Use on windows, cooktops, coffee pots, stainless steel and more.
Lemon Amonia for flooring- use 1 part amonia to 3 parts water. Still cheap. Not the best product if you are environmentally concious, but it is cheap. It is also a toxin so be carful to have proper ventilation
Dish Liquid- I prefer to use the best dish soaps. I find the generics are watered down.because you just need a small amount for each sink of dishes, buy the good stuff. I also know of people who use bar soap to wash dishes!.
Club Soda- gets out stains in clothing and carpet.
Lemon Juice- also a great degreaser because of the acidity. Use on copper too.
Other ideas?
Air Fresheners- I am looking for ideas on this one. maybe somebody else does. The air fresheners can be expensive as are the plug in refill.
Let me know if you have other ideas so I can share them with others.
Thank you for viewing my blog.
Lori Lincoln
Keller Williams Realty
lorilincoln@kw.com
508-878-0917
http://www.lincolnteamrealestate.com
Lori Lincoln and her team are neighborhood experts in Taunton, Dighton, Rehoboth, Somerset, Swansea and much of Bristol County and surrounding Massachusetts cities and towns.
" No pressure or hassles, just results!".
About 2 months ago, I listed an expired listing which was on the market for awhile and listed for a much higher price which the market also rejected. I listed the home below the previous price, but still too high. So yes, you guessed it.
We had 2 showings in 2 months. Lots of open houses, marketing to buyer agents, 30+ websites and frustrated sellers ( and agent). Every week during this time, I informed my sellers weekly of sold homes and homes that were under agreement.
After exhausting all of my efforts, I approached the sellers with some real concrete market data and statistics, most of which was shared in our first meeting at the time of the listings, but the sellers needed to "try the high price. Sometimes market value news is tough to hear, tough for me to communicate to my sellers as well. Finally they reduced the price.
After one week, at the reduced price, we had 5 buyers preview and consider purchasing the property. All 5 buyers through their agents submitted an offer! I have to admit, I was absolutely shocked!. We now have one accepted offer and one back up offer.
The sellers of this home are very smart for reducing their price. Now they can move on with their lives, buy a home that suits them for a great price..
The buyers also won. They will likely gain equity if they stay in the home for 7 years or more.
I am so grateful to my company for providing the knowledge to help my sellers get what they needed.
I also have even more insight on how important it is urge my sellers to price just slightly below market value.
So many times, I see sellers make the mistake of pricing to high when they first list the home. Then they every other months they keep reducing the price down just a bit, but still over market value...chasing the market down. Eventually they sell for a really low price because they cannot keep up the pace of the declining market with the small price reductions.
My advice to sellers.. PLEASE..refrain "Neverland/Fantasy" pricing. If you want your high price, you might want to consider selling it in a different market.
If you owe more than what the home is worth, this a completely different blog. Speak to an educated experienced agent regarding this matter.
I digress.. All of the marketing in the world will not convince buyers to buy your home if your home is out of the range of true market value.
Just to illustrate. I like to shop at Macey's, say I find a dress, my size, my color etc.. I see the dress at Macey's for $150. then I see the same dress at Penny's for $95.00. All things being equal, which one do I buy? This is how buyers are thinking today. They're greatest fear is paying too much and right now, with all of the inventory, real estate, in my opinion, is about price.
You may say " but I have a unique home". Sad to say, but in the current market, there aren't unique homes, that buyers will pay over market value for.
Lori Lincoln, Realtor/Partner with Keller Williams Realty. If you would like more information on selling your home. Lori lis a Real Estate Expert in Bristol County Massachusetts. If you would like a free market valuation of your home without cost or obligation, call Lori Lincoln who knows the facts, the neighborhoods and will help you achieve your goals and sell your home.
Lori Lincoln and her team sell homes in Taunton Massachusetts, Berkley, Assonet, Rehoboth, Somerset, Freetown, Bristol County MA and surrounding cities and towns.
For a Free MLS Search for the entire state of Massachusetts go to Massachusetts Real Estate
Thank you for viewing my blog.
Lori Lincoln
http://www.Lincolnteamrealestate.com
I read an article on Boston.com today.. For sellers, the next year will be a trying year. If you do not need to sell.. DON"T. Record numbers of foreclosures are causing home prices to fall. In April of 2008, there will be hundreds of adjustable rate mortgages that will reset.. what this means is that those with adjustable rate mortgages may experience a larger house payment, which has been the driving force of the plethora of bank owned properties we are seeing on the market today.
Today's buyer is shopping, shopping for price. The market is truly all about price.
Average market time for the state of Massachusetts is 15 months now. 20% of the homes on the market are priced to sell. The other 80% will either expire or not sell at all, or sit for many months unless the price is adjusted.
I cannot give a prediction of what the market will do, nobody has a crystal ball. I do know, however, that homes are taking longer and longer to sell. Price equals pace in this market.
I would love to be buying today!
If I personally were looking for a home, this would be the perfect opportuntity. Interest rates are low, home prices are low. One never knows when rates will rise.
Advice to Buyers- Work with a Realtor that knows the market.. Make sure you see comparables.
My take on buying a home today..." It really doesn't matter what the price is, most are priced well below 2 years ago".
Unless you plan on selling your home within the next 5 years, just buy the home you love..
Don't be nervous Ned or Nelly,
I got a call recently asking me about a home I had on the market 6 months ago, the buyer asked if he could make an offer.. I said, "Sorry, sold it 5 months ago". Buyers can miss out on well priced homes if they hesistate... someone else will be enjoying their dream home, all because they were hung up on $10,20, 30 more a month!. If you are first time buyer, you have all the more reason to buy. Your tax write off for interest can offset your income taxes, sometimes, substantially!
For more information on Market Trends, Home Selling and Buying, Please Contact Lori Lincoln, 508-878-0917
http://www.bristolcountyhometeam.com/
http://tauntonhomes.net/
http://assonethomes.com/
http://berkleymahomes.com/
http://lorilincolnteam.com/
Lori Lincoln has homes for sale in Taunton, Assonet, Rehoboth, Dighton, and
Bristol County Massachusetts
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Dighton Line, Taunton - Announcing a price reduction on 1453 Somerset Avenue, a 1,869 sq. ft., 2 bath, 3 bdrm 2 story. Now 
MLS® #70663909 $339,900 - Amazing Price! Now 339900.
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This year, my first FULL time year in Real Estate has been a sweet blessing from Heaven! All of the people that helped along the way and the support I received has been phenominal!
This year, I would like to personally thank all of my friends, clients and business associates publicly
My clients :
Em and Mike
Nelson and Kathy
Mike and Erin
Maureen
Tom and Judy
Jeff
Jennifer
Glen and Cathy
Sean
Gary and Eileen
Jacqueline
Ann and Denis
Patricia
Mr and Mrs L
David and Denise
Patrick
Jay M
Holly and Brent
Mike N
Jen and Keith
Noella
Chris
Jill C
Darrell
Linda and Horace
Rose and Bob
Just as important- Noella, Rose and Bob, Mike, Jackie, Noella, Patricia, Mary, Gary, thank you for your referrals!
My family- Thank you Andrew, Melissa, and Andrew Jr.. Elaine- thank you! Noella- Thank you again!
My support system at Keller Williams - Barry Papagno, Scott Morris, Carolyn Phillips, Cedalia, Jen, Marilyn, Charlie, Derek, Jerry, Fred and Nadine, Beth, Colleen, Rob C, David Lenger, Dan Derito, Sheryl Orcutt, Denise Gormley, Eric K, Bobbie Files, Tricia, (please forgive me if I left you out). You are amazing people with big hearts that care! Your classes, when put into action, really do work!
Barry and Carolyn- Thank you for tolerating my bullheadeness in the beginning...learned much on humility.. the hard way!
Scott- Thank you for your belief in me- you have a way of making everyone feel important.
To My Active Rain Friends- I have learned so much on this forum. You've made such a positive contribution to the way I l do business
Bill Gassett- ReMax Metro West- I don't know when you sleep! You are A role model in the blogging world! I'm still working on the photos, links and more. I've learned so much from you. Thank you.
Maureen Stacatto- Thank you for your imparted wisdom.
Suzanne Sands- who knows more about Mattapoisett than anyone I know. A great person, full of life and a passion for the business.
If I left anyone out, please forgive me. This blog was just.. off the cuff, thinking of Thanksgiving and those who have helped me along the way.
If you or someone you know is interested in buying or selling Real Estate in Taunton, Rehoboth, Somerset, Swansea, Assonet area, please contact me for the utmost in professionalism, communication, and knowledge of the area.
You can also go to BristolCountyHomeTeam.com
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I have heard many different opinons on whether to post photos for listings. One recent opinion from a Realtor was that posting online tours and several photos is over-selling the home.
It was very important to me to research this topic on my own. I called a list of 20 potential buyers and here's what they say:
1. "No pictures means the sellers are hiding something"
2. "I save online tours of listings in my price range and view several times"
3. "Photos of the yard and outside of the home only means the inside is horrible"
4. " I will skip over listings without photos"
5. " Lots of photos take the pressure off"
6. " I will more likely call on a home with many photos and/or online home tours than I would if there were just one photo or just a few."
7. Online Photos and tours that look cluttered: I will not likely put at the top of my list because my perception of the uncleanliness and clutter leads me to believe the home is not sound and needs repair."
My conclusion:
Home listings should be well staged, fair price, with lots of photos and online home tours. This will generate good qualified leads of ready, willing and able buyers and decrease market time.
Lori Lincoln sells home in Bristol County MA, in Assonet, Dighton, Taunton MA and surrounding areas
For Thousands of Home Listings, Homes for Sale, Real Estate in Bristol County MA, and How to sell your home faster in a buyers market please visit
LoriLincolnTeam.com Assonethomes.com TauntonMAHomes.net
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Updated and Charming 3 bedroom larger cottage in desireable area of New Bedford. Home has many original appointments including gorgeous hardwood floors, new open kitchen with Anderson Sliders to brand new deck. A Hot Property- Offers between 184,900 and 190,000 will be entertained. You will love this one!
For Free MLS Seach go to Bristol County Homes For Sale
You can also click FREE HOME VALUE ONLINE if you are thinking of selling
For All of Your Real Estate Needs.. serving the communities of New Bedford, Taunton, Rehoboth, Dighton, Assonet, Freetown MA and surrounding areas
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Priced To Sell!
• 1,910 sq. ft., 2 bath, 3 bdrm 2 story - MLS® $349,900 - Value equals Quality
Assonet, Freetown - Words cannot describe how charming and beautiful this home really is! Just about everything is new including the designer kitchen with maple cabinets, granite counters, ceramic tile and brand new stainless appliances. The home had been totally rennovated for today's discriminating buyers. Hardwood Floors in Dining Room and Living Room. The living room is also to die for.. huge! with brick fireplace and plenty of room for holiday guests as french doors off the living room lead to family room and enclosed back porch.
The entire 2nd level was also rennovate. Plush new carpeting, brand new everything.
A very rich and warm home located in Assonet MA.
Put This One On Your List.. before you buy anything else.. at least take a look. Easy to show!
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Brand New and Ready for Upgrades
• 1,869 sq. ft., 2 bath, 3 bdrm 2 story - MLS® $359,900 - Amazing Price!
Dighton Line, Taunton - Enjooy the Holidays in Your Brand New Home. Home is ready for you to upgrade.! Loads of Privacy with this 3 bedroom 2.5 bath home in Taunton MA. Set Back from the Road over 225 feet.in a 2 lot subdivision. Master Suite has a full bath and a huge walk in closet.
Ceramic Tile and Hardwoods Downstairs, choice of carpets available for upstairs. You'll be close to everything, but feel like you're in the country. Custom ugrades are available will be added to the sales price.
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