Are You Qualified to Sell [Your House]?

Are You Qualified to Sell?

Most people think that being qualified is for home buyers and that it means being pre-approved for a mortgage. Being qualified is not just for buyers, sellers also need to be qualified! 

Sure, anyone who owns a property can sell it (assuming there are no legal restrictions) but owning a property does not make for a “qualified” seller. In real estate, the definition of qualified is “ready, willing, and able.” Buyers and sellers both need to be ready, willing, and able; that means financially, logistically and emotionally. 

Here are some questions to answer to determine if you are qualified to sell:

1.   Do you have enough equity in your house to cover closing and moving costs or else have enough cash to bring to the closing table? 

2.   Are you and everyone involved committed to selling? Do your spouse and/or children want to move? Do you have adult children who have their own ideas about the house and what you should be doing? 

3.    Is your house ready to go on the market? Has it been de-cluttered with everything in working condition, fixed or replaced, fresh paint, refinished floors, lighting, landscaping, etc., with updates that will appeal to today’s buyers?

4.   If you plan to sell “as is” and are you willing to reflect that in your list price?

5.   Do you have a place to go when you sell? 

6.    Do you have the money/financing to buy a new property before you close on your current home?

7.   If you need to sell before you can buy, is temporary housing a realistic option for you, your family, pets…until you can find the right home? Inventory is really tight right now, it could take a while.

8.    Are you willing and able to make some compromises/trade-offs?

9.      Do you have a realistic understanding of the current market and will you listen to feedback? 

10.   Are you ready to detach yourself from the memories you made in the house?

Selling your home is a lot of work and can certainly be stressful. Making sure you are qualified/ready, willing and able will make the process easier and result in a better outcome for everyone involved!

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Marilyn Messenger is a licensed real estate broker, Certified Residential Specialist, and Certified

Luxury Homes Marketing specialist associated with Andrew Mitchell and Company. With 24+ years of experience in Concord, Sudbury, Wayland, Maynard, Stow and the towns west of Boston, Marilyn will make the selling and/or buying process efficient and cost effective for you. Visit http://www.MarilynMessenger.com for more.

Sold in Sudbury

Sold in Concord

Deer Hedge Run Maynard

Happy Sellers! This Could Be You!

   

Wayland Home Sales Up 38.6%!

SOLD - 32 Pequot Road Wayland -WaylandHomeSales.com

Current 2/13/2016:  There are currently 23 single-family homes for sale in Wayland. Last year at this time there were 30. List prices for current listings in Wayland range from $269,900 to $6,900,000. The median list price of $1,549,900 is higher than last year at this time when the median list price was $1,187,000. See homes for sale in Wayland.

Y-T-D Pending Sales as of 2/13/2016: 23 single family homes have pending sales including 11 that have accepted offers and are waiting for contingencies to clear. The median list price for sales pending was $739,000. Actual sale prices will be available in approximately 60 days when the sales close.

December Closed Sales: There were 16 closed sales in December, up from 10 in December 2014. The median sale price of $618,000; up 9.6% from December 2014.

2015 Closed Sales: There were 183 closed sales of single-family houses in Wayland during 2015; up 38.6% from 2014. The median sale price for the year was $705,000; up 3.1% from the 2014. 206 single-family houses were 252 listed in 2015 compared with 206 in 2014. 

Price Adjustments/Expired Listings: Even in the most active market properties that are not priced correctly will not sell and prices must be adjusted/reduced. There were 198 price adjustments on 112 single-family properties in Wayland during 2015; the average adjustment was -8.2%.

Expired Listings: There were 33 homes that were listed for sale and expired/did not sell during their listing contract period. These “expired listings” were on the market for an average of 226 days. Some of them came back on the market and are either still active or have been sold.

Condominiums (including garden-apartments and townhouses): Currently, there are 12 condominium units for sale in Wayland. Prices range from $459,000 for a townhouse at Stoneridge Village, to $1,179,000 for a 12 room luxury townhouse at The Field at Mainstone. New construction townhouses at Craftsman Village start at $759,900.

Buyers, you are entitled to have your own buyer agent/broker represented you when you buy new construction. You do not need to work with the builder’s agent, however, your agent must accompany you to the first showing, even if it is “just to look” or get information. If you are looking for easy living see condominiums for sale in Wayland and the nearby towns west of Boston.

                                                      



Five Miles Astride the River: The Story of Wayland from Pelham Island Pictures on Vimeo.

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About the author: Marilyn Messenger, is a Certified Residential Specialist (CRS) and Accredited Buyer Representative (ABR), and licensed real estate broker is associated with Andrew Mitchell and Company. She has been selling residential properties in Wayland and towns west of Boston since 1993. Marilyn's knowledge and experience helps her clients accomplish their housing goals in the shortest amount of time with the least amount of stress. www.WaylandHomeSales.com

Hilltop Townhouse in Maynard | Short Sale $232,000

Hilltop Townhouse at Oak Ridge - 4 Finished Levels - Privacy, Views

If you have been looking for a great opportunity to buy a townhouse, check out this short sale listing at Oak Ridge in Maynard for a spacious 4-level townhouse with 2 bedrooms and 2.5 baths, central air-conditioning, fireplace, and parking for 2 cars, privacy, views, and a community pool that has just been listed for $232,000! It is an easy location for commuting on Route 117 to Waltham/Route 128 or west to Route 495 or the commuter rail in Acton, West Concord, or Lincoln. Minutes to Maynard center shops, restaurants, movies, arts, farmers’ market; parks, hiking trails, and of course, everyone’s summer favorite Erickson’s Ice Cream! Everything you need for comfort and convenience at an affordable price.

While it is always difficult for a homeowner to make the decision to go forward the short sale process, for many people it is their best option for being able to move on, and having these properties come to market can be a great opportunity for a buyer who is not on a tight deadline for moving. Other than time, patience, and some extra paperwork, buying a short sale is really no different than buying any other property. A qualified short sale buyer can have a mortgage and a home inspection contingency, although don’t expect a seller who is underwater to make repairs, and if it’s a condominium you will be able to your attorney review the condo documents and do your due diligence.

For additional information or to schedule an appointment for a viewing contact Marilyn Messenger.
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About the author: Marilyn Messenger, is a licensed real estate broker associated with Andrew Mitchell and Company, Concord and has been representing buyers and sellers in Wayland, Sudbury, and the towns west of Boston since 1993.

She is a certified short sale representative (SFR) and has a successful track record closing on short sale listings. Additionally, she holds the Certified Residential Specialist (CRS) and an Accredited Buyer Representative designations.
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"Marilyn handled the short sale of my home in Wayland, MA. She did a great job with our property & had it under agreement in the blink of an eye. As with all short sales, the bank makes it difficult for everyone involved. However, Marilyn kept the buyers and the sellers up to date at every turn and she even handled all signing of documents electronically which made life so much easier, especially seeing as I was living out of state. She also had to deal with both myself and my ex, we are very much estranged, and she was even able to navigate those difficult waters with ease. She faced many challenges in handling the sale of this property and she overcame each one easily and with great professionalism. I wouldn't hesitate to recommend Marilyn to anyone looking for a buyers or sellers agent!!" Kimberly Bellavance, Wayland   

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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About 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.

Suburban Condo Prices Up!

Condo prices are way up in Massachusetts are not just in Boston!  Click to link to a recent article in the Boston Globe.

Deer Hedge Run Maynard

Prices are also up over last year in many of suburban towns west of Boston.    

Here are median prices for some of the towns for the past 6 months:

Maynard: $257,000; up 3.4%
Concord: $367,500; up 4.7%
Wayland: $610,000;
Sudbury: $620,000; up 4.8%
Acton: $277,200; up 7%
Stow: $382,000; 7.4%

Active Adult Townhouses, Sudbury MA

Check out condominiums for sale at www.marilynmessenger.com.
and be sure to check out "Is Condo Living for You?" 

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About the author: Marilyn Messenger, a Certified Residential Specialist, Accredited Buyer Representative, and broker associated with Andrew Mitchell and Company in Concord has been selling condominiums for 21 years.

Having served on the Board of Trustees at Deer Hedge Run, she understands HOAs (homeowner associations) and the ins-and-out of condominium living. Contact Marilyn at 508-596-3501 for information about condominiums that may fit your needs. If you're thinking about selling; low inventory makes this a good time!

Sudbury Real Estate: Luxury Homes Still Selling

Clients' New Home - Sudbury $1,080,000

Lots of happy luxury home buyers and sellers in Sudbury this year. Year-to-date through 7/15, were 14 closed sales for over $1,000,000. Overall, there were a total of 105 single-family houses sold in Sudbury; the median sale price was $686,000 and the average was $718,551. There were 123 sold during the same period in 2013; the median sale price was $680,000 and the average was $714,937.

Currently, there are eleven luxury properties with sales pending and  with an accepted offer waiting for contingencies to clear. There were 19 luxury homes sold during the same period last year.

Homes for Sale in Sudbury: There are currently 71 single-family homes for sale in Sudbury with prices ranging from $315,000 to $3,295,000. The price range with the most opportunities continues to be luxury homes that are priced from $1,000,000 to $1,499,999 - there are 17 currently for sale.

Summer is a great time to buy a home in Sudbury and if you act quickly, you can still move into your new house in time for the start of the school year. Click here to see houses for sale in Sudbury and other towns in Middlesex County. If you are thinking about selling your house in Sudbury, it’s never too soon to start planning your move – click to request a homeevaluation or call 508-596-3501 to talk with your Sudbury area specialist. 

Happy Home Owners in Sudbury!

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About the author: Marilyn Messenger has been representing home buyers and seller in Sudbury, Wayland, Maynard, Stow, and the towns west of Boston since 1993. She is a Certified Residential Specialist (CRS), an Accredited Buyer Representative (ABR), and a licensed real estate broker associated with Andrew Mitchell and Company in Concord. She is the top recommended broker on Trulia in Sudbury, Wayland, Stow, and Maynard. She has the skills and experience to achieve her clients' goals. You can reach Marilyn at 508-596-3501 or visit www.marilynmessenger.com to learn more.

Who Saves the Commission?

When the market heats up it is always tempting for sellers and buyers to think they can get a better deal on their own without a real estate agent to represent them. But who's really getting the better deal?

One of the most common reasons buyers want to deal directly with the seller is because they feel they can save the commission.  It’s a valid consideration but interestingly, it’s the same reason the seller isn’t employing an agent; they feel they can save the commission.

Both parties cannot save the commission.  The buyer feels they have earned it because they’ve had to find the home, determine its value and negotiate with the seller.  They had to arrange their own financing, title and inspections.

The seller equally feels that they have earned the commission because they have incurred all of the marketing expenses and have invested hours upon hours to be available to show the property, hold open houses and answer inquiries. They have had to research value, financing, title work and make decisions.

There is certainly value in all of the things that buyers and sellers are willing to do to save the commission but only one person can save the commission only if the buyer and seller can reach a written agreement.

There is value to having a third party advocate helping each party to the transaction.
The Profile of Home Buyers and Sellers (Exhibit 8-1) reports that 14% of sales were For-Sale-by-Owners in 2004 compared to just 9% in 2013.  The trend shows that agent-assisted sales rose to 88% in 2013 from 82% in 2004.

The three most difficult tasks identified by for-sale-by-owners is attracting potential buyers, getting the price right and understanding and performing the paperwork. When surveyed, sellers most value the home selling in an anticipated time frame and for an expected amount.

Buying or selling a house may look easy - just take some pictures, put it on the Internet, have an open house...so why pay a commission? The reality is that both parties cannot save the commission.  It is earned by providing specific services that are essential to the transaction.  The capital asset of a home represents the largest investment that most people make.  An investment that important certainly deserves the consideration of a professional trained and experienced to handle the complexities involved.
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BTW - all real estate is local and while the media is reporting on inventory shortages leading to bidding wars, cash buyers, contingencies being waived, the market is Sudbury is actually starting to turn a bit. Current inventory is higher that is was last year at this time and also up from last month. A lot of houses came on the market in May. The median list price is also a bit lower; and there have been 24 price reductions on 23 single-family homes during the past month. Want to know more? Call 508-596-3501 or check out houses for sale at www.marilynmessenger.com. 

Sudbury Housing Market Update - Prices Rise as Inventory Shrinks

Sudbury Real Estate - Local Housing Market Update



Click here for the latest report from the Greater Boston Association of Realtors. including data for condominiums in Sudbury.
 

Single-Family Homes: Both the number of single-family homes sold and the median sale price during February were higher in Sudbury than in previous years. Year to date (as of 2/28) there have been 25 closed sales for single-family homes in Sudbury - a 47.1% increase over the same period last year.

Current 4/2/13 - The number of homes for sale has dropped by 40% since last year - there are 84 single-family homes for sale and of those, 18 already have accepted offers. Last year on 4/2 there

were 141 for sale. Current list prices range from $269,900 to $3,495,000.The median list price is $889,000 compared with $769,000 last year.

Overall, there is a 4 month supply of single-family homes for sale compared with 8 months last year. Supply varies by price. Luxury property buyers still have many excellent options in Sudbury. There are currently 23 estate homes for sale between $1,000,000 and $1,499,999 and only 2 have - this is an almost 9 month supply. There are 8 listings between 1.5 million and $999,999.

Condominiums (townhouse and garden apartment style) - Contrary to the single-family market, the supply of condominiums has increased by 100% - there are 32 for sale compared with 16 last year, however, of the 32, 14 already have accepted offers. The increase is mostly due to the new construction townhouses at Landham Crossing, Mahoney Farms, and Grouse Hill. There are also 3 resale townhouses at Springhouse Pond, 2 of which have accepted offers and are being shown for backup. List prices for condos in Sudbury range from $230,000 for an apartment-style at Northwoods, to $825,000. The median price is $687,450.

While condo living is easier and really tempting after all the snow this winter, it is different than owning your own single-family home. There are many things to consider. If you are considering a condo, including new construction, know that you are entitled to have your own buyer agent /broker represent you. If you want someone on your side, and who wouldn't, contact me before you visit the site; visiting the site first could cost you.

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Get the latest market reports for Wayland, Sudbury, Maynard, Stow and Acton MA at www.marilynmessenger.com or call 508-596-3501 if you are looking for a knowledgeable, experienced, educated and caring real estate broker and buyer agent to help you buy or sell a home.

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Benefits of Written Agreement for Buyers



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Most consumers know that if they want to “hire” a real estate broker/agent to sell their home and represent their interests, they are going to sign a contract. Realtors® are not allowed to list a property without one. The contract clearly spells out the terms of the agreement including length of time, compensation, who the agent represents and each party’s responsibility.

While buyer agency is not a new concept - it has been legal in MA for almost two decades and a few years ago the law that governs agent-consumer relationships was updated to further ensure consumer protection - many buyers and some agents still don’t understand the benefits of a written Buyer Agency Agreement/contract.

Buyers often call me to ask for help finding a home and many tell me they have had disappointing experiences with "their buyer agent." When I ask if they had a contract with the agent, they answer is almost always “no”.  Well, of course they are disappointed! How did the agent know what the buyer expected? And were the buyer(s)' expectations realistic?

The benefit of a contract is that both the buyer and the agent know what to expect and that each is accountable. The buyer knows which geographic areas the agent covers, they know how the agent is going to be compensated, and that the agent is legally obligated to act in their behalf.

Buying a home is a process that takes time, effort and tenacity; it's a long way from finding a house that suits your needs to getting to the closing table. Successful negotiations are based on trust, confidentiality, and mutual respect. Buyers, you are entitled to have a qualified buyer agent on your side to ensure you get the representation you deserve and a written agreement is the first step.

While any agent can call themselves a buyer's agent, an ABR, Accredited Buyer's Representative, has additional training and is a member of the Real Estate Buyer Agency Council, the network that provides ongoing education and resources for representing buyers.

Before you start looking for a house find a qualified buyer broker/agent who will listen to you and respect your needs; one who knows the market in the area, knows how to negotiate, has a network of resources - lenders, home inspectors, attorneys, movers, etc.; and who will educate you so you can make the best decisions about your new home. Real estate is about relationships, so make sure you have your own agent who knows and cares about your well-being.

Click here and check out "I am an ABR" on Facebook at Living West of Boston and get the latest real estate news and community information about about Wayland, Sudbury, Maynard, Stow and the beautiful towns west of Boston.

You Have the Right to Remain Silent.. Anything You Say..."

Anyone who has ever watched a crime show on TV can finish that sentence. We all know about Miranda rights when someone gets arrested. Hopefully, no one reading this blog will ever have to hear those words but there is a good chance that you or someone you know will at some point talk to a real estate agent or broker about buying or selling a home.

If you are like most people, you don’t think about “rights” or “relationships” when you contact a real estate agent; you just want information about a property or a town or about financing. The agent will ask questions about where you live, where you work, when you need to move, how much money you make, your source for financing, how much you want to spend on a property… all kinds of personal and financial information that you would want to have kept confidential; and certainly not shared when you want to win a negotiation.

Now this is not legal advice (you need a lawyer for that), just a heads up for buyers and sellers that in Massachusetts whenever a consumer asks a real estate licensee to discuss a particular property, the licensee must disclose in writing whose interests the licensees represent, the buyer or the seller, or both. Without such a warning consumers can make tactical mistakes in negotiating the best possible deal, such as disclosing their bottom line price to a real estate licensee who is actually the seller's representative..."anything you say can and will be used agains you..." How about a seller asking for advice about pricing their property; what if that agent represents a buyer who may have an interest... who does that agent work for?

A recent investigation by Patrick-Murray Administration's Division of Professional Licensure shows real estate licensees regularly fail to disclose whose interests they represent. Investigators found 94 percent of licensees checked were not in compliance in Boston. Pairs of investigators from the Division of Professional Licensure, posing as consumers, visited 200 real estate offices throughout Massachusetts and found that in only 12 instances, or 6 percent of the time, real estate licensees properly disclosed to consumers whose interests they represent.

Have you contacted a real estate agent lately…did they provide the Mandatory Licensee-Consumer Relationship Disclosure form for you to sign?

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Market Reports - Weston, Wayland, Sudbury, Maynard, Stow

Written Agreements Benefit Buyers

Most consumers know that if they want to “hire” a real estate broker/agent to sell their home and represent their interests, they must sign a contract. Realtors® cannot list a property and represent a seller without one. The contract clearly spells out the terms of the agreement including length of time, compensation and each party’s responsibility.

A buyer agency agreement/contract does the same thing. It is an agreement for an exclusive arrangement between a buyer and a broker/agent for a period of time. It spells out how much the agent is to be compensated and by whom – it is in the buyer’s best interest to be clear about this. It describes each party’s responsibility and obligation. It lists the geographical areas covered, as well as the home search method. The contract also explains the terms “dual agent” and “designated agent” – very important to understand before the negotiation process.

While buyer agency is not a new concept – it has been legal in MA for about 15 years and a couple of years ago the law that governs agency relationships was updated to further ensure consumer protection, many buyers and some agents still don’t understand the benefits of a written Buyer Agency Agreement/contract. I have had many buyers call me to ask for help finding a home and they tell me they have had disappointing experiences with their “buyer” agents. When I ask if they had a contract with these agents, they answer is almost always “no”. Well, of course they are disappointed!

Satisfaction is tied to expectation. Know what to expect – get it in writing!

Find your next home at http://www.marilynmessenger.com/ - complete MLS listings with addresses and maps, news and information from an Accredited Buyer Representative and Certified Residential Specialist - Sudbury MA and west of Boston.

Sudbury Housing Market Contrary to National

Once again as national new reporters continue to talk about huge numbers of unsold housing inventories and prices dropping, the number of homes on the market in Sudbury MA is down by 28%! And, median and average sale prices for the month of January were up!

There are currently 89 single-family homes available for sale in Sudbury compared with 124 one year ago and of the 89, eight have accepted offers with contingencies waiting to clear so really there are 81. Lower inventory generally leads to higher asking prices, and this is what’s going on in Sudbury. More...