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The Best Month and Day to Sell Your House For the Most Money? Think Fast.

 

If you are looking to sell your home fast and for the highest price, start prepping. You've got about 6 weeks! So says Megan Turchi of the Boston Globe, according to Zillow.

Now, those of us in the "biz" don't put a lot of faith in Zillow when it comes to certain things, like home values, but they may be on to something here. It's no secret that inventory is down, which naturally creates a supply and demand conundrum for buyers. How much more will your house sell for? Click here for Megan's (and Zillow's) final words.

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Pending Home Sales Move Forward in February

Today's market report from the National Association of Realtors:

"Lawrence Yun, NAR chief economist, says pending sales made promising strides in February, rising to the highest index reading since last July (109.8). "After some volatility this winter, the latest data is encouraging in that a decent number of buyers signed contracts last month, lured by mortgage rates dipping to their lowest levels in nearly a year1 and a modest, seasonal uptick in inventory2," he said. "Looking ahead, the key for sustained momentum and more sales than last spring is a... Read the full story here.

 

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Real Estate Market Watch - Interest Rates & Affordability

NAR Chief Economist Lawrence Yun had this to say in a recent article by Robert Freedman for REALTOR MAG on interest rates and affordability:

rising mortgage interest rates

"Yun is forecasting the rate on a 30-year fixed loan to rise to 4.3 percent by the end of the year and then to about 5 percent at the end of 2017. These are “very low by historical standards,” he says.  

Concerns are shifting from escalating rates over to the lack of home inventory and affordability issues. Yun says home prices are rising about 7.5% annually on average and household income only at 2%. This scenario is playing out accross the U.S. and cities & communities are taking notice. From California's San Francisco Bay area to Newton, MA (part of the 10th most expensive housing market in the nation - NPR) teachers with 6-figure salaries are priced out, spending 50% and higher of their salary for rent/mortgage not including utilities. NPR has that story and you can LISTEN TO IT HERE.

We don't see a shortage of buyers, but here on the North Shore, there is a definite need for inventory. Thinking of selling? Now's a great time. How a 1-2% increase in interest rates will affect buyers in this market remains to be seen. Multiple offers, bidding wars and sales far over asking are a recurring scenario right now, provided the property is priced and marketed professionally and accurately.  Stay tuned, we'll keep you posted.

 

 

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Is Renovating Your Home Worth It?

The process can feel overwhelming.home renovations You may decide to just unload and move on. We can help you determine what's best for you. Estimating current, concise market value is our expertise. Establishing today's value 'as is' or estimating future value post-renovation is crucial information when weighing your options. It's no wonder there's confusion; this Yahoo spokesperson warns you to beware of adding an additional bathroom because it won't add much value.  

BUT, if you watch the entire video and listen to the President of the National Association of Realtors, he talks about kitchens and bathrooms having the most impact and appeal to potential buyers.  We agree with Tom.

Know the facts, do your research and lean on our complimentary advice. Our team is vested in the health of this community and that includes happy homeowners here for the long haul. Contact one of our professionals today

 

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Sales North of Boston in Essex County, SURGE by More than 14%!

Boston.com reports double digit increases across Massachusetts in 2015! The Warren Group reports numbers supporting the fact that buyers are particularly interested in the North Shore and Essex County. Here in Ipswich we concur. 2015 was our best year on record and 2016 is already on track for a similar year. Get the full story on the South Shore, Essex, Middlesex, Norfolk and Suffolk Counties here.

 

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#1 Ipswich Real Estate office

Windhill is the #1 Ipswich office, selling more Ipswich real estate than any other Ipswich office. No small print  or disclaimer needed. Direct from MLS PIN, all Ipswich transactions in 2015. One office + 22 dedicated REALTOR professionals = #1. 

Interested in what a specific property sold for?  Click here to search our sold database and find any sold property in Massachusetts

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2016 Housing Market Expectations

National Association of Realtors® Chief Economist Lawrence Yun in a newly-released video on his 2016 housing market expectations. Click the image to hear what he predicts for 2016. His expectations cover a broad range and demographic and there are varying factors for every area.

Thinking about making a move? Contact us and we will give you more targeted information on your specific location. We can help you with the loan process, put you in contact with one of our preferred lenders, show you the waterfront home of your dreams or simply provide you with a list of open houses

 

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Hello? It's Me...

Occasionally we walk into a home and as the homeowner is escorting us to the second floor to proudly show off the master bedroom suite that was added last year, after combining what was once two smaller bedrooms, into one (wince), we smile and agree how yes indeed it is spacious and beautiful. But...we are silently wishing you would have called.

Hello? It's me...

your local, experienced REALTOR offering complimentary consultations on real estate planning. We are here to help you avoid certain home improvement blunders, like Amy Hoak, who wrote this excellent and informative article, "Renovations that Could Lower Your Home's Value". She's spot on folks. Please note, like all financial planning, real estate is no different. Just like Amy says, "Everything is relative to what the homeowner's long-range intent is." We agree and coach our clients to look forward, consider circumstances current and future before making decisions of such epic proportion. 

Thinking about renovations? Call us. First. 978-356-8922
 

 

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Help Your Parents Make Their Retirement Funds Last Longer

 

Are you a member of the Sandwich Generation, raising kids AND your aging parents? Maybe you're the slice of bread on top or the aging parent and have no intention of trading in your long history and beloved memories for a one-level living arrangement. Maybe you planned ahead and Gram and Gramps are already in their cozy condo with a garage, first floor master and laundry. Regardless, the process is looming, inevitable, complicated and usually highly emotional. 

I read an excellent article by Jeff Brown, a Sandwich Generation writer..."What to Do with Mom and Dad". He breaks it down and his bottom line spells it out. Don't wait. Get all family members on board, educate yourselves and get help from your accountant, attorney and real estate agent. Clients reach out to us often for advice and we provide them with the tools they need to set attainable, long-term financial goals. Educating you on market conditions, current actual values and return (or lack of) on potential improvements is what we do best. We understand the sensitive nature of being a "slice" in the "sandwich" and the emotions attached to "home". Take advantage of our 200+ years of collective experience. We care about our seniors; they deserve the absolute best and we want to help you help them get exactly that.

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