Bristol County Massachusetts Real Estate Blog-Lincoln Team : MA

Opportunities in Today's Real Estate Market, Foreclosures and Short Sales, Taunton-Lakeville Real Estate

Lori Lincoln — Mon, 19 Oct 2009 00:25:00 GMT

Are You waiting for the next wave of foreclosures? Think about this.. There may be a wave of Short Sales instead.- Taunton-Lakeville Real Estate

Everywhere you turn today, the talk is about a next wave of foreclosures. I wonder whether this is accurate information. When I logically assess these statements and claims in my mind, I cannot understand.

While many Option Arm and adjustable rate mortgages are about to reset, I wonder whether the next wave of foreclosures will be a tsunami or just a few ripples.

How I see it:

Major lenders like JP Morgan Chase, Bank America, Wells Fargo and many more are offering loan modification programs to homeowners who would otherwise lose their homes.

Today vs last year: Home Owners who are behind on their payments are better educated on their options. I believe that short sales will be the dominant force in real estate in 2010. and foreclosures, not nearly as many..here's why:

1. A Judge earlier this year, in Massachusetts ruled that due to improper paperwork two banks improperly foreclosed on two Springfield-area homes; therefore, the title to these properties have been "clouded" or defective. Mortgages were not properly recorded, and sometimes not recorded at all, or recorded well after the date the mortgage was given. Judges have declared this illegal.. the banks sold and resold the mortgages multiple times to other investors. This affected and will continue to affect several homeowners in pre-foreclosure and foreclosure status. We are continuing to see this happen in other states as well. Based on this, I am of the opinion, at least right now, that there will NOT be a so called "glut" of foreclosures, I believe they will exist and come on the market, but not a wave or tsunami, as we saw last year and in first quarter 2009.

A. Another case Landmark National Bank v. Kesler, August 28, 2009 , the Kansas Supreme Court held that a nominee company called MERS has no right or standing to bring an action for foreclosure. MERS is an acronym for Mortgage Electronic Registration Systems, a private company that registers mortgages electronically and tracks changes in ownership. The significance of the holding is that if MERS has no standing to foreclose, then nobody has standing to foreclose - on 60 million mortgages? That is the number of American mortgages currently reported to be held by MERS. Over half of all new U.S. residential mortgage loans are registered with MERS and recorded in its name. Holdings of the Kansas Supreme Court are not binding on the rest of the country, but they are dicta of which other courts take note; and the reasoning behind the decision is sound. This will halt so many foreclosures, giving homeowners time to consider their options. and yes, the banks will continue to attempt foreclosure.

2. Lenders have to be accountable to their investors and their bottom line. Foreclosures are toxic assets and are cost prohibitive. Lenders do not want real estate, they want their money. Would you want to own a house where you would have to fund an asset manager, real estate agent, repairs, liability insurance and more. The cost of foreclosure on some homes can be greater than what the home is worth!

3.Because of Obama's new Making Homes Affordable program, banks have become kinder and gentler in the way of loan modifications for those who qualify.

4. For homeowners unable to qualify for a loan modification, short sales are the other best alternative. I believe that our inventory will consist of more short sales than foreclosures in 2010.

Lori Lincoln is knowledgeable, experienced and educated in foreclosures and short sales. Not all agents know the process, please call her if you or someone you know needs help. http://LoriLincolnTeam.com

Lori Lincoln

Keller Williams Realty

http://LoriLincolnTeam.com

lorilincoln@kw.com

508-878-0917

Search Thousands of MLS listings for Taunton,Rehoboth,Lakeville, Assonet,Somerset, Raynham, Easton, Massachusetts

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Believe it or Not.. there are now 2 buyers for every property.. not because of multiple offers.. read on..

Lori Lincoln — Fri, 19 Jun 2009 00:30:00 GMT

Believe it or not there are 2 buyers for every property in today's Market- Taunton Area Massachusetts (edit/delete)

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

Take Advantage of the Tax Credit before it's too late! Rehoboth, FREE BOOK "YOUR FIRST HOMETaunton, Assonet Bristol County Massachusetts

Lori Lincoln — Thu, 18 Jun 2009 23:28:00 GMT

Less than 6 months left to take advantage of First Time Buyer Tax Credit (edit/delete)

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.

Sellers, understand what homebuyers want

Lori Lincoln — Tue, 08 Jul 2008 11:04:00 GMT

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.

Interested in a short sale? Be sure your agent knows how..

Lori Lincoln — Tue, 08 Jul 2008 11:01:00 GMT

Sellers Beware! Do you know if your agent is short sale savvy??? (edit/delete)

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

Time to "Get Real".. Market Trends for Bristol County

Lori Lincoln — Sat, 24 Nov 2007 01:10:00 GMT

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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Lori Lincoln — Mon, 19 Nov 2007 01:33:00 GMT

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Before You Make An Offer on A Bank Owned Property- Know What You're Up Against.

Lori Lincoln — Thu, 18 Oct 2007 23:28:00 GMT

Making Offers on Bank Owned Property/ Short Sales

If you are an investor or a first time buyer, you probably have considered bank owned property or properties being offered on "short sale". (A short sale is when the home is worth less than the note owed by the seller of the home.).

I have submitted several offers on both bank owned and short sale properties, over the past few months. Here is what I have learned.

1. Banks that own foreclosed properties like to see a bonafide pre-approval letter from a well known bank.

2. Earnest Deposit money must be serious. $1000 on a Purchase and Sales Agreement will probably not be taken seriously by the bank or any seller for that matter.

3. Very low offers are usually not even considered. The bank usually won't counteroffer. Their way of saying, "we have better offers". Most of the bank owned homes are priced to sell.

4. Many buyer rights are taken away when entering into the Purchase and Sales Agreement. Most banks have a page (or more) addendum that has to be signed by the buyer agreeing to buy "as is".

5. If you are looking for bank owned properties. It would be wise to have a buyer's agent in your corner. There is so much more involved in this, that I couldn't possibly cover it all in this blog.

I have access to thousands of bank owned and short sale properties for sale in Massachusetts. Please contact me for more information.

Lori Lincoln

Keller Williams Realty

508-878-0917

http://BristolCountyHomeTeam.com

I work in Bristol County MA serving cities and towns in Taunton MA, Fall River MA and surrounding areas.

"NO Hassles, NO Pressure, Just Results

Are You Are Smart Seller? Price The House Right From The Start.

Lori Lincoln — Wed, 17 Oct 2007 01:32:00 GMT

Are You A Smart Seller? Price Your Home Correctly so you can move on with your life.

Tough Talk on Pricing- My intentions in the following few paragraphs is not to offend but to inform.. it's just that important.

When you decide to hire a Realtor ( notice I said Realtor, there is a difference between an agent and a Realtor)... he or she will advise you on price by showing you comparable homes of sold listings, active listings, expired listings and absorption rates. This will help you to determine the right price of the home. Please be sure the sold comparables are not more than 3 months old. The selling price of homes has been declining in the New England Region.

1. You will be dissapointed if your list price is too high. Some would argue that a higher price would mean a better negotiation position. This is not the case. Buyers didn't go to negotiating school. They don't want the hassles and generally they don't want to test price your home. They just want to buy a great home at a fair price. Sure you could get some low offers, but most qualified buyers will come back to reality, especially if you have a Realtor that is a great negotiator.

2. If you price is too high, the home will start languishing with no showings, no offers and buyers wondering if something is wrong with the house. The attitude from buyers and the buyers agents is "Oh THAT House!". The buyers agents will inform the buyers that the home is overpriced, then proceed to show them 100 others are comparable, only much less expensive. 3. Lead the Market- Be in the Market, not just on the market. Compare it to being in a supermarket line, would you rather be the first person in line or number 50 in line?

4. All the marketing in the world will not cause an overpriced home to sell. I know this first hand. In the beginning of my career, I took some listings that were overpriced, spending almost my entire commission check on advertising. When the price was finally dropped, the properties sold.

5. Don't let your home hold you hostage to your next goal in life.. Move On and you will get a great deal on the house you buy.

Listen to the Market- We are no longer in a shifting market. We are in a buyer's market. Price your home to sell and it will sell quickly. Overprice it and it will languish for months or even a year, then be worth less than the right price is today. Be a smart seller and move on with your life. Don't worry about making a huge profit. You will make that on your next home.

Lori Lincoln is a Realtor for Keller Wiliams Realty. She cares about her clients and their goals and dreams.

If you are thinking of selling and not currently listed with another agent, please contact her at 508-878-0917 or email lorilincoln@kw.com

For more information and to preview MLS Listings in the Greater Taunton MA Area including Rehoboth, Dighton and Assonet please visit this site GreaterTauntonRealEstate.com

Choosing the Right Agent to Sell Your Home in Bristol County orGreater Taunton/Assonet MA

Lori Lincoln — Tue, 16 Oct 2007 02:17:00 GMT

Your home is one of your biggest financial investments. That's why it's important to keep track of its value, get it marketed properly, with the right agent you will sell faster and for market value.

As the real estate expert in your neighborhood, You will have the systems in place to help you stay on top of area home values. Take advantage of my neighborhood knowledge and the latest technology tools offer you an edge when it comes to monitoring local home sales.

Contact us for a listing of the most recent real estate activity in the Taunton MA area,

And if you're thinking about making a move, I can also offer you a FREE Home Audit Report/Market Analysis for the neighborhoods you are interested in.

Best Regards,

Your Neighborhood Realtor,

P.S. Call me at 508-878-0917 or visit http://www.LoriLincolnTeam.com for a FREE report on "Getting Your Home Ready to Sell."

Lori Lincoln is affiliated with Keller Williams Realty and serves Taunton, Assonet, Dighton, Rehoboth, Swansea, Somerset and surrounding cities and towns

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