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Tuesday, May 19, 2015

Who Is Your Agent?

Buyer Agent or Seller Agent? Who's Working for You?
More often than you’d expect, homeowners refer to the person they bought their insurance from as their agent. It sounds reasonable but it’s definitely not accurate. That person is the agent of the insurance company and they legally represent the company, not the customer. Even an independent agent who can place a policy with different companies is still an agent of the company. A mortgage officer, in most cases is an employee and represents the company. And the same is true for a title or escrow officer. It’s important to understand the actual relationship to know what you can expect from them.

Any business person who wants to stay in business must treat their customers fairly and with a high degree of service. As a customer, you should be able to reasonably expect honesty and accountability. The difference is that employees owe their loyalty to their employer and agents owe their loyalty to their principal.

An agent owes more than just honesty and accountability. The principal can expect complete disclosure, obedience, loyalty, reasonable skill and care and confidentiality from their agent. This advocacy is very beneficial during the buying or selling process to coordinate all aspects of the transaction. The agent can bring valuable experience to your side of the transaction to provide confidence that your best interests are being represented from start to finish.

Most states have a recognized procedure for the real estate professional to create a formal relationship between themselves and a buyer or seller. This requires a fiduciary/statutory responsibility that places the principals’ interests above the agent’s own personal interests.

In Massachusetts real estate agents are required to provide consumers the Massachusetts Mandatory Licensee-Consumer Relationship Disclosure form at the first personal meeting with you to discuss a specific property. The form explains the types of agency an agent can provide. Although, this has been mandatory for years, many buyers who have looked at properties with other agents often tell me they have never seen the form! Consumers have a right to know who an agent represents.

Additionally, it is in the consumer’s best interest to have a written agreement with an agent who is going to represent them as a buyer agent. It clarifies expectations so there are no surprises or misunderstanding about responsibilities and makes for a less stressful transaction. Here are some of the other advantages of a written buyer agency agreement.
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Marilyn Messenger CRS ABR GRI - Broker with Andrew Mitchell & CompanyAbout the author: Marilyn Messenger, a local real estate broker associated with Andrew Mitchell and Company, has been representing buyers and sellers in Wayland, Sudbury, Maynard, and the towns west of Boston for 20+ years. She is a Certified Residential Specialist - less than 4% of Realtors have achieved the CRS® designation, an Accredited Buyer Representative and is an active member of the Real Estate Buyer Agency Council. Visit www.marilynmessenger.com.


Friday, May 15, 2015

Maynard MA - Opportunities for First-Time Home Buyers

Welcome to Maynard MA


With prices for single-family homes ranging from 235,000 to $579,000, Maynard has some excellent opportunities for first-time home-buyers who may be priced out of the more expensive surrounding towns. The median list price of $382,400 for a single-family house compared with $719,000 in Acton, $534,000 in Stow, and $911,950 in Sudbury, makes Maynard an affordable housing option in a town that has something for everyone! Check out homes for sale in Maynard.

Maynard is located approximately 22 miles NW of Boston. Bordered by Sudbury, Acton, Stow, and Concord. Maynard is a great location for people working in Waltham, Cambridge or west to the Worcester area with easy access to  Route 117, Route 2, and commuter rail stops in West Acton and West Concord.

The walkable downtown includes a variety of restaurants, specialty shops, a movie theater, art space and a new micro-brewery and pub opening soon at Clock Tower Place. There is a new high school, a library, outdoor walking track, tennis court, a country club, lots of open space and parks. In the summer there are outdoor concerts and of course, my favorite, Erikson's Ice Cream.

The population in Maynard is approx. 10,000 people; it is a small town with a diverse housing stock that includes vintage turn-of-the century antiques, suburban ranches and split-level house, newer single-family colonial and capes, a variety of condominiums/townhouses including the established communities at Deer Hedge Run, Apple Ridge and Oak Ridge, as well as some new construction.

If you haven't been to Maynard, come see what you're missing!
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Contact Marilyn
Find out what a buyer broker can do for you


Maynard is located approximately 22 miles NW of Boston. Bordered Sudbury, Acton, Stow, and Concord, Maynard is commuters have a variety of options via Route 117, Route 2, and commuter rail stops in West Acton and West Concord. The population in Maynard is approx. 10,000 people; it is a small town with a diverse housing stock that includes vintage turn-of-the century antiques, suburban ranches and split-level house, newer single-family colonial and capes, a variety of condominiums/townhouses, new construction, and The walkable downtown includes a variety of restaurants, specialty shops, and art space. There is a new high school, a library, outdoor walking track, tennis court, a country club, lots of open space and parks. In the summer there are outdoor concerts and an old fashioned ice cream stand. If you haven't been to Maynard, come see what you're missing! - See more at: http://www.marilynmessenger.com/web/AR438531/ListingSearch/load_saved_search/?ss_id=5197243&nav_page_id=6207904#sthash.U0lWjcX1.dpuf

Maynard is located approximately 22 miles NW of Boston. Bordered Sudbury, Acton, Stow, and Concord, Maynard is commuters have a variety of options via Route 117, Route 2, and commuter rail stops in West Acton and West Concord. The population in Maynard is approx. 10,000 people; it is a small town with a diverse housing stock that includes vintage turn-of-the century antiques, suburban ranches and split-level house, newer single-family colonial and capes, a variety of condominiums/townhouses, new construction, and The walkable downtown includes a variety of restaurants, specialty shops, and art space. There is a new high school, a library, outdoor walking track, tennis court, a country club, lots of open space and parks. In the summer there are outdoor concerts and an old fashioned ice cream stand. If you haven't been to Maynard, come see what you're missing! - See more at: http://www.marilynmessenger.com/web/AR438531/ListingSearch/load_saved_search/?ss_id=5197243&nav_page_id=6207904#sthash.U0lWjcX1.dpuf
Maynard is located approximately 22 miles NW of Boston. Bordered Sudbury, Acton, Stow, and Concord, Maynard is commuters have a variety of options via Route 117, Route 2, and commuter rail stops in West Acton and West Concord. The population in Maynard is approx. 10,000 people; it is a small town with a diverse housing stock that includes vintage turn-of-the century antiques, suburban ranches and split-level house, newer single-family colonial and capes, a variety of condominiums/townhouses, new construction, and The walkable downtown includes a variety of restaurants, specialty shops, and art space. There is a new high school, a library, outdoor walking track, tennis court, a country club, lots of open space and parks. In the summer there are outdoor concerts and an old fashioned ice cream stand. If you haven't been to Maynard, come see what you're missing! - See more at: http://www.marilynmessenger.com/web/AR438531/ListingSearch/load_saved_search/?ss_id=5197243&nav_page_id=6207904#sthash.U0lWjcX1.dpuf

Monday, May 11, 2015

Price Matters in Sudbury

Anyone looking to buy a house this spring in Sudbury and most other towns in the area knows what a challenge it has been to be buying in a market where there are not enough houses for sale to meet the demand. Open houses over the past couple of months have been like a feeding frenzy and home sellers have been getting offers, oftentimes more than one, on their properties within days and sometimes within hours!

Sales and prices in Sudbury are up year-to-date. Through today, 5/11, there have been 52 single-family homes sold in Sudbury compared with 36 for the same period in 2014. The median sale price of $632,500 is also up; the median sale price for the same period in 2014 was $598,750.

All good news for home sellers! Why wouldn't a seller be confident about listing their house for a high price; especially if they've spent money to update? It's a seller's market, right?

It is important to understand that buying decisions for closed sales are made 30 to 90 days prior to closing and inventory was extremely low at the end of 2014 and during the first couple of months in 2015. Today, there are 72 single-family homes for sale; only one less than last year at this time and the median list price of $899,450 is actually lower than last year when it was $949,000. The number of homes with pending sales during the past month is exactly the same as it was last year. Even though Y-T-D closed sales were higher than last year, pending sales show that activity is stabilizing.

All home sellers want to get top dollar for their houses and many mistakenly think that if they ask more they will get more and that they can always reduce the price later. Sure, you can  reduce the price later, but your house is most interesting when it first comes on the market. Buyers are always waiting for that new property to be "the one" and if the price doesn't meet their expectations, they will move on. They may come back if they see a new price, but in the meantime, you've missed out on all of the people who would have been interested in your house if you priced it right to begin with; that's when they were exited.

Bottom line: Price matters in any real estate market and houses that are not priced correctly will linger. Some sellers have recognized this. There have been 30 price adjustments/reductions on 26 properties in Sudbury during the past month. Year-to-date, there have been 50 changes on 37 single-family houses. Unfortunately, houses that don't sell quickly get stale and often when buyers see that a seller had reduced the price once, they'll just wait to see if it's reduced again. Buyers see price reductions as an invitation to negotiate.

The right price along with targeted marketing is what will bring you the most money when you sell your house. If you are thinking about selling check out homes for sale in Sudbury at www.marilynmessenger.com to see your competition. Contact me anytime to talk about how to price your house correctly to get top dollar in today's market.
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We were so pleased to have worked with Marilyn for a second time! Marilyn helped us to buy our first home in Sudbury 10 years ago and when we were ready to sell it, we called her again. The process of buying and selling can be overwhelming, but Marilyn helped us to sort through it all. She is a master at organization and coordination of the many parties involved in this process. She was on top of all of the details so that nothing fell through the cracks. There were multiple offers on the house...MORE

Tuesday, April 07, 2015

Hot Housing News in Sudbury!


Hot Housing Market!
When we hear the media reports about cold weather and low inventory being the reasons for slow home sales in March, they are clearly not talking about the Sudbury real estate market where record-breaking snow and cold did not deter buyers and sellers!

Here are the facts about Sudbury housing market:
  • 43 single-family homes came on the market in March compared with just twenty-five during March 2014. Although, overall inventory levels continued to be similar to last year.
  • The number of houses with pending sales was almost double - 33 sales pending up from 17 during the previous March.
  • There 12 closed sales - twice the number in March 2014; reflecting the buying decisions that were made during the previous couple of months.
  • Current inventory for single-family house for sale in Sudbury on 4/6/2014 is exactly the same as on 4/6/2014.
  • The price-range with the most opportunities is one-million to $1,499,999; there are 19, last year there were 18. 
  • Time on the market for houses current for sale is 122 days compared with 183 days last year at this time. Days on market vary by price range and some sellers may be ready to make a deal to get moving.
  • Median prices for sold, pending, and current listing are all higher than last year.
  • Current list prices in Sudbury range from $360,000 to $2,499,999; the median list price is $962,000.
  • The median sold price in March 2015 was $769,000; up from $699,000 in March 2014.
With it's country charm, top-rated schools, a variety of classic and updated housing styles, open space, shopping, places for casual and fine dining, rich history, and recreation for all ages, Sudbury continues to attract buyers who are looking for a quality town in a convenient location.

Marilyn Messenger CRS ABR GRI - Broker with Andrew Mitchell & CompanySee all of the houses for sale at www.marilynmessenger.com or call 508-596-3501 for additional information about buying and selling houses in Sudbury and the towns west of Boston.






Friday, February 27, 2015

Concord MA Real Estate: Pending Homes Sales Through the Roof!

Pending home sales were up 142% in January 2015 over January 2014; Sudbury was up 100%...

Closed sales and median sale prices were also higher...

Meanwhile, the number of properties for sale remains low make this a good to sell a house and a challenging time to buy.

Check out the slideshow for market reports for single-family homes in Wayland, Sudbury, Concord, Maynard, and Stow and view the full reports at www.marilynmessenger.com.



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