10 Questions to Find Out if You're Qualified to Sell Your House

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 extremely low 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, Accredited Buyer Representative, and Certified Luxury Homes Marketing Specialist/Million Dollar Guild Member associated with Andrew Mitchell and Company, Concord. With 25+ 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.

The Gift of Home Saves Taxes!

Holiday time is when people get together with family and friends, to exchange gifts and talk about plans for future which often include buying or selling a house. It’s also year-end and a good time to think about estate planning and taxes. Did you know that parents, grandparents, aunts and uncles, and even friends can start to pass along/gifting their estates while reducing inheritance taxes and getting to see their family enjoy the benefits of their gifts? What could be a better gift than tax-free help with a down-payment on a home?

NOTE: The following information was provided by a loan officer, however you should always talk

with a tax expert and financial adviser about your specific goals and financial situation.

Gifts are involved in approximately 25% of all of the mortgage loans that are transacted. Gifts from family members and relatives are allowed under IRS and lending guidelines but lenders do not report the parties involved to the IRS.

Under current IRS guidelines (please consult your accountant for tax advice and ramifications) each parent or relative can give up to $14,000 to each child or relative every year. That would mean that a mother and father can each give $14,000 a year to each son, daughter, and/or grandchild that would amount to $28,000 a year in total. If both sets of parents want to help with the down-payment on a house; each of the parents can give each borrower a gift of $14,000 per year. That would add up to $56,000 for both of you! That is a significant amount of tax-free money to help you buy a home for your family! Of course, a gift can also be less than $14,000, so give what you can.

That amount is per calendar year and not based on every twelve months. That would mean that they could give $56,000 (or more) in December 2017 and an additional $56,000 (or more) in January 2018. With only on month left in 2017, this is the time to bring up the subject with your family. What could make them happier than helping you buy a house and saving money on taxes?

For most types of mortgage loans, you will need to have 5% of the amount of the down-payment on your own, however, there are exceptions. To find out the exceptions and details about how gift money can be applied to your down-payment contact a reputable mortgage broker.

Visit www.marilynmessenger.com to see homes for sale, get the latest real estate market reports, and learn about having your own buyer agent on your side. 
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About the author: Marilyn Messenger, a licensed real estate broker, Certified Residential Specialist, and Accredited Buyer Representative associated with Andrew Mitchell and Company in Concord has been representing home buyers and sellers in Wayland, Sudbury, Maynard, Stow, and Concord MA since 1993. www.MarilynMessenger.com for more. 

7984 Reasons to Sell Your House Over the Holidays

Holiday Season is a Great Time to Sell!

The holiday season is such a hectic time for people. Getting together with family and friends, traveling, shopping, decorating, company parties, charity events... So why would a home-seller keep their house on the market and even more, why would anyone list their house for sale during this busy time? A lot of real estate agents (who don't work over the holidays) will tell you that no one buys houses over the holidays anyway and you'll get more money if you wait until Spring like everyone else does, right?

Well actually, there are 7984 reasons why! That is the number of single-family and condominium home sellers in Middlesex County who accepted offers on their houses last year between November 15 and January 15. That includes 22 in Sudbury, 12 in Wayland, 17 in Concord, and 18 in Maynard. In Weston, there were 16, 22 in Hudson, and in Acton there were 30!

Sale prices for the properties that accepted offers during the holidays ranged from $108,000 for a condominium in Acton to $5,500,000 for a luxury estate in Weston; and all prices ranges in between. 

So why do houses sell over the holidays? Because:

• Buyers have time to look; unused vacation days; companies give their employees extra time for shopping.
• Holiday/year-end bonuses.
• Pay-raises.
• Motivated buyers who missed out or were out-bid in the Spring, Summer and Fall markets.
• New jobs - companies hire for the new year. Relocating buyers need to make decisions soon.
• People get engaged, married, combine households and need more space.
• Visiting family brings out the nesting instinct.
• Down-payment holiday gifts - click here to out how your family can give money tax-free.
• Good deals; buyers are seeing price reductions from sellers who are ready to move.
• People are in the mood to shop and there's nothing better than buying a house!

As for selling for more money in the Spring, if you are selling your house you are most likely going to buy another place to live. If prices are higher in the Spring, then you will also pay more for your next house. You may sell for less at this time of year but you will also pay less. If your end-goal is to buy another house, then understand that selling is just a step n the process toward buying. You will be ready to act as soon as houses come on the market while other buyers are waiting to sell.

So if your house is currently on the market, hang in there; the inconvenience can be worth it. If you are planning to sell, do it now. You'll be ahead of the competition and be ready to move forward.
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If you are ready to buy or sell in Concord, Wayland, Sudbury, or any of the towns west of Boston - call Marilyn at 508-596-3501 or visit www.marilynmessenger.com to see homes for sale in Massachusetts.

Who's Buying Houses in Stow?

Stow is one of the most beautiful towns west of Boston and the video above shows three properties that my buyer clients including first-time buyers, move-up buyers, and active adults/55+ purchased over the summer.

So what did they buy in Stow? The first home shown, a classic 4 bedroom colonial-style, was purchased by first-time buyers who wanted quiet and privacy and land. They were happy to trade off granite counters and stainless steel appliances for a quiet location and a gorgeous acre lot!
The house needs some updating but the purchase price was under-budget and they are willing and able to do some work to have a place they can call home for many years to come!

The second photo is a new development for seniors/55+ that includes attached and detached townhouses with first-floors master suites, full basements, and 2 car-garages. The buyers are moving to Stow to be closer to their grandchildren in Concord. They are happy to have their own buyer agent helping navigate the buying process and help them get to know the area. More about buyer agency for new construction...

The third house is nicely updated expanded split-level home also on an acre lot with a gorgeous backyard. These move-up buyers who sold their townhouse in Maynard were willing to trade a neighborhood location for a more main road to get the amount of interior space and outdoor area they want for entertaining fiends and family!

Homes for Sale in Stow: There are 19 single-family houses for sale in Stow; last year there were 24 for sale. List prices in Stow range from $349,000 to $1,200,000. Lower inventory is putting upward pressure on prices in Stow but there are still some good values available. The median list price for a single-family home is currently $699,000; last year it was $582,400.

The median home sale price for a single-family home in Stow has gone up 14.91% since 2013!  See the most recent market report for Stow. 

With it's abundant apple orchards, farm stands, and golf courses, Stow is a very popular place for people to visit in the Fall. If you've been in your house for 5 or more years and are thinking about selling traffic will be peaking soon so let's talk - 508-596-3501.

Perfect Fall Day in Stow  - October 2016!

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About the author: Marilyn Messenger, a licensed broker, Certified Residential Specialist, Accredited Buyer Representative, Certified Luxury Homes Specialist and Million Dollar Guild Member associated with Andrew Mitchell and Company, has been representing buyers and sellers  in Stow, Maynard, Concord, Sudbury, Wayland & west of Boston since 1993.

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!

----------------------------------------------
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.

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Deer Hedge Run Maynard

Happy Sellers! This Could Be You!

   

Concord MA - Median Home Prices Up for 2017

Concord MA - Single-family Median Prices - 5 years

As in most towns and cities in Massachusetts and throughout the U.S, the residential real estate market in Concord is setting new records for median home prices!

Here is the latest market data for Concord:

Homes for Sale 7/7/2017: There are 88 single-family properties for sale in Concord; last year at the same time there were 97. List prices on in Concord range from $483,880 to $8,950,000; the median list price is $1,477,450. The median list price last year in Concord was $1,398,000. Luxury home buyers have a variety of options in Concord and with the time on the market in excess of 6 months in many cases, some of these home sellers may be ready to negotiate.  See all of the properties for sale in Concord.



Condominiums for Sale: Concord offers a variety of condo styles including garden-apartment, townhouses, new construction, duplexes, and detached single-family homes; some are age restricted for seniors over 55. There are currently 9 condominiums units for sale in Concord; last year at this time there were 16. Prices ranges for condominiums in Concord range from $318,000 to $$1,099,000; the median list price is $465,000, last year it was $874,500.

Pending Sales: There are currently 52 single-family homes with sales pending and three that have accepted offers and are being shown until contingencies are met.

June Closed Sales: There were 20 closed sales in June 2017, down from 33 in June 2016. Not surprising, the median sale price of $1,399,475 was higher than in June 2016 when it was $1,249,900.



Check out the latest reports as of 6-30-2017 from MLSPIN: including data year-over-year, and five year comparisons for single-family homes. Please contact me for additional information about condominiums. Remember, every home and every client is different so it is important to understand the similarities and differences when you are planning to sell, buy or both.|
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Want to know more? Call me at 508-596-3501 or
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Click here for the latest market reports for Sudbury, Wayland, Maynard, and Stow.

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About the author: Marilyn Messenger is Certified Residential Specialist, Accredited Buyer Representative, a Certified Luxury Homes Marketing Specialist and Million Dollar Guild member associated with Andrew Mitchell and Company in Concord MA. She has been representing buyers and sellers in the towns west of Boston since 1993. Click here to see what her clients say.