1. Get rid of clutter. Throw out or file stacks of newspapers and magazines. Pack away most of your small decorative items. Store out-of-season clothing to make closets seem roomier. Clean out the garage.
2. Wash your windows and screens to let more light into the interior.
3. Keep everything extra clean. Wash fingerprints from light switch plates. Mop and wax floors. Clean the stove and refrigerator. A clean house makes a better first impression and convinces buyers that the home has been well cared for.
4. Get rid of smells. Clean carpeting and drapes to eliminate cooking odors, smoke, and pet smells. Open the windows.
5. Put higher wattage bulbs in light sockets to make rooms seem brighter, especially basements and other dark rooms. Replace any burnt-out bulbs.
6. Make minor repairs that can create a bad impression. Small problems such as sticky doors, torn screens, cracked caulking, or a dripping faucet may seem trivial, but they'll give buyers the impression that the house isn't well maintained.
7. Tidy your yard. Cut the grass, rake the leaves, trim the bushes, and edge the walks. Put a pot or two of bright flowers near the entryway.
8. Patch holes in your driveway and reapply sealant, if applicable.
9. Clean your gutters.
10. Polish your front doorknob and door numbers.
5 Ways to Speed Up Your Sale
1. Price it right. Set a price at the lower end of your property's realistic price range.
2. Get your house market ready for at least two weeks before you begin showing it.
3. Be flexible about showings. It's often disruptive to have a house ready to show on the spur of the moment, but the more often someone can see your home, the sooner you'll find a seller.
4. Be ready for the offers. Decide in advance what price and terms you'll find acceptable.
5. Don't refuse to drop the price. If your home has been on the market for more than 30 days without an offer, be prepared to lower your asking price.
Source - REALTOR.org
--
Lee Wareham - REALTOR®, TRC, e-PRO
The Tucker Group
Kinlin Grover GMAC Real Estate
193 Cranberry Highway - Route 6A
Orleans, MA 02653
800-275-9210 x141, 774-313-6091 Mobile
508-255-1489 Fax
mailto:lwareham@kinlingrover.com
http://LeeWareham.com
http://www.CapeTuckerGroup.com - The Tucker Group Cape Cod Real Estate Team Website
http://LoCape.com - a new "narrow search" local search engine - indexing lower Cape Cod websites only. Brought to you by the Tucker Group.
http://SearchCapeCodRE.com – sign up for daily email alerts and search MLS listings!
Tuesday, February 12, 2008
Friday, February 8, 2008
Mortgage ratesheet
February 8, 2008
Purchase Transactions
Conforming Loans
Rate Points
30 Year Fixed 5.875 % 0
5/1 ARM 5.375 % 0 15 Year Fixed 5.375% 0
30 Year Fixed 5.875% 0
* Low income programs for borrowers at or below 80% of the area median income
(Standard purchase price limits apply)
JUMBO Loans up to $2,000,000!
Rate Points Margin Caps
3/1 ARM 5.625% 0 2.75% 5/2/5
30 Year Fixed 6.875% 1
*Rates are subject to change without notice
-
Primary, Secondary & Investment Properties
-
Home Equity Lines & Loans
-
3/1, 5/1, 7/1, 10/1 ARM’s Interest Only
-
Fast pre-approvals
Matt Dolan
508-737-3509
Wednesday, February 6, 2008
Facts and Trends Reports - Chatham...
*** Publisher's Note ***:
If your email program is not displaying the chart graphs properly, please click on the following link which will take you to a web page that contains the graphs:
Show charts
| Facts and TrendsTM |  | ||
| Published Jan. 2008 | |||
| Location : Chatham | |||
Number of Homes For Sale vs. Sold vs. Pended | |||
| Price Range: $0 - No Limit | |||
| SQFT Range: 0 - No Limit | |||
| Single Family Homes | Prepared for you by: Lee Wareham | ||
 |
All reports presented are based on data supplied by the Massachussets Real Estate, New Hampshire Real Estate, Boston Real Estate and Cape Cod Real Estate or their MLS. Neither the Associations nor their MLSs guarantee or are in anyway responsible for their accuracy. Data maintained by the Associations or their MLSs may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed. |
| Facts and TrendsTM | | ||
| Published Jan. 2008 | |||
| Location : Chatham | |||
Average Home Sold Price per SQFT | |||
| Price Range: $0 - No Limit | |||
| SQFT Range: 0 - No Limit | |||
| Single Family Homes | Prepared for you by: Lee Wareham | ||
 |
All reports presented are based on data supplied by the Massachussets Real Estate, New Hampshire Real Estate, Boston Real Estate and Cape Cod Real Estate or their MLS. Neither the Associations nor their MLSs guarantee or are in anyway responsible for their accuracy. Data maintained by the Associations or their MLSs may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed. |
| Facts and TrendsTM | | ||
| Published Jan. 2008 | |||
| Location : Chatham | |||
Days on Market & Sold/List Price % | |||
| Price Range: $0 - No Limit | |||
| SQFT Range: 0 - No Limit | |||
| Single Family Homes | Prepared for you by: Lee Wareham | ||
 |
All reports presented are based on data supplied by the Massachussets Real Estate, New Hampshire Real Estate, Boston Real Estate and Cape Cod Real Estate or their MLS. Neither the Associations nor their MLSs guarantee or are in anyway responsible for their accuracy. Data maintained by the Associations or their MLSs may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed. |
| Facts and TrendsTM | | ||
| Published Jan. 2008 | |||
| Location : Chatham | |||
Avg Price For Sale & Sold | |||
| Price Range: $0 - No Limit | |||
| SQFT Range: 0 - No Limit | |||
| Single Family Homes | Prepared for you by: Lee Wareham | ||
 |
All reports presented are based on data supplied by the Massachussets Real Estate, New Hampshire Real Estate, Boston Real Estate and Cape Cod Real Estate or their MLS. Neither the Associations nor their MLSs guarantee or are in anyway responsible for their accuracy. Data maintained by the Associations or their MLSs may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed. |
| Facts and TrendsTM | | ||
| Published Jan. 2008 | |||
| Location : Chatham | |||
Months of Inventory Based on Closed Sales | |||
| Price Range: $0 - No Limit | |||
| SQFT Range: 0 - No Limit | |||
| Single Family Homes | Prepared for you by: Lee Wareham | ||
 |
All reports presented are based on data supplied by the Massachussets Real Estate, New Hampshire Real Estate, Boston Real Estate and Cape Cod Real Estate or their MLS. Neither the Associations nor their MLSs guarantee or are in anyway responsible for their accuracy. Data maintained by the Associations or their MLSs may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed. |
Tuesday, February 5, 2008
Understanding Agency - who represents whom?
Understanding Agency
It’s important to understand what legal responsibilities your real estate salesperson has to you and to other parties in the transactions. Ask your salesperson to explain what type of agency relationship you have with him or her and with the brokerage company.
1. Seller's representative (also known as a listing agent or seller's agent). A seller's agent is hired by and represents the seller. All fiduciary duties are owed to the seller. The agency relationship usually is created by a listing contract.
2. Subagent. A subagent owes the same fiduciary duties to the agent's principal as the agent does. Subagency usually arises when a cooperating sales associate from another brokerage, who is not representing the buyer as a buyer’s representative or operating in a nonagency relationship, shows property to a buyer. In such a case, the subagent works with the buyer as a customer but owes fiduciary duties to the listing broker and the seller. Although a subagent cannot assist the buyer in any way that would be detrimental to the seller, a buyer-customer can expect to be treated honestly by the subagent. It is important that subagents fully explain their duties to buyers.
3. Buyer's representative (also known as a buyer’s agent). A real estate licensee who is hired by prospective buyers to represent them in a real estate transaction. The buyer's rep works in the buyer's best interest throughout the transaction and owes fiduciary duties to the buyer. The buyer can pay the licensee directly through a negotiated fee, or the buyer's rep may be paid by the seller or by a commission split with the listing broker.
4. Disclosed dual agent. Dual agency is a relationship in which the brokerage firm represents both the buyer and the seller in the same real estate transaction. Dual agency relationships do not carry with them all of the traditional fiduciary duties to the clients. Instead, dual agents owe limited fiduciary duties. Because of the potential for conflicts of interest in a dual-agency relationship, it's vital that all parties give their informed consent. In many states, this consent must be in writing. Disclosed dual agency, in which both the buyer and the seller are told that the agent is representing both of them is legal in most states.
5. Designated agent (also called, among other things, appointed agency). This is a brokerage practice that allows the managing broker to designate which licensees in the brokerage will act as an agent of the seller and which will act as an agent of the buyer. Designated agency avoids the problem of creating a dual-agency relationship for licensees at the brokerage. The designated agents give their clients full representation, with all of the attendant fiduciary duties. The broker still has the responsibility of supervising both groups of licensees.
6. Nonagency relationship (called, among other things, a transaction broker or facilitator). Some states permit a real estate licensee to have a type of nonagency relationship with a consumer. These relationships vary considerably from state to state, both as to the duties owed to the consumer and the name used to describe them. Very generally, the duties owed to the consumer in a nonagency relationship are less than the complete, traditional fiduciary duties of an agency relationship.
- from www.REALTOR.org
It’s important to understand what legal responsibilities your real estate salesperson has to you and to other parties in the transactions. Ask your salesperson to explain what type of agency relationship you have with him or her and with the brokerage company.
1. Seller's representative (also known as a listing agent or seller's agent). A seller's agent is hired by and represents the seller. All fiduciary duties are owed to the seller. The agency relationship usually is created by a listing contract.
2. Subagent. A subagent owes the same fiduciary duties to the agent's principal as the agent does. Subagency usually arises when a cooperating sales associate from another brokerage, who is not representing the buyer as a buyer’s representative or operating in a nonagency relationship, shows property to a buyer. In such a case, the subagent works with the buyer as a customer but owes fiduciary duties to the listing broker and the seller. Although a subagent cannot assist the buyer in any way that would be detrimental to the seller, a buyer-customer can expect to be treated honestly by the subagent. It is important that subagents fully explain their duties to buyers.
3. Buyer's representative (also known as a buyer’s agent). A real estate licensee who is hired by prospective buyers to represent them in a real estate transaction. The buyer's rep works in the buyer's best interest throughout the transaction and owes fiduciary duties to the buyer. The buyer can pay the licensee directly through a negotiated fee, or the buyer's rep may be paid by the seller or by a commission split with the listing broker.
4. Disclosed dual agent. Dual agency is a relationship in which the brokerage firm represents both the buyer and the seller in the same real estate transaction. Dual agency relationships do not carry with them all of the traditional fiduciary duties to the clients. Instead, dual agents owe limited fiduciary duties. Because of the potential for conflicts of interest in a dual-agency relationship, it's vital that all parties give their informed consent. In many states, this consent must be in writing. Disclosed dual agency, in which both the buyer and the seller are told that the agent is representing both of them is legal in most states.
5. Designated agent (also called, among other things, appointed agency). This is a brokerage practice that allows the managing broker to designate which licensees in the brokerage will act as an agent of the seller and which will act as an agent of the buyer. Designated agency avoids the problem of creating a dual-agency relationship for licensees at the brokerage. The designated agents give their clients full representation, with all of the attendant fiduciary duties. The broker still has the responsibility of supervising both groups of licensees.
6. Nonagency relationship (called, among other things, a transaction broker or facilitator). Some states permit a real estate licensee to have a type of nonagency relationship with a consumer. These relationships vary considerably from state to state, both as to the duties owed to the consumer and the name used to describe them. Very generally, the duties owed to the consumer in a nonagency relationship are less than the complete, traditional fiduciary duties of an agency relationship.
- from www.REALTOR.org
Monday, February 4, 2008
GMAC Mortgage Rate Sheet
| 'Fed Rate Cut Right Move, Analysts Say – 1/31/08' |
| Thursday, January 31, 2008 — The Federal Reserve has cut the federal-funds rate by 1.25 percentage points since Jan. 22, approving a 0.5-percent reduction at its meeting on Jan. 30. Analysts say two rate cuts within eight days of each other is unprecedented, but they underscore the resulting benefits to consumers and businesses. Freddie Mac says mortgage rates have slipped to about 5.5 percent since the start of January, and the Mortgage Bankers Association reports a year-over-year surge in mortgage applications of 71 percent last week. Adjustable mortgage rates also have fallen. According to Bankrate.com senior financial analyst Greg McBride, "Resets will be much more manageable in 2008. That could be the difference to holding onto your house." |
Matt Dolan
Loan Officer
1990 Main Street
Brewster, MA 02631
P.O. Box 2000
508-737-3509
Electronic Fax- 866-363-7255
http://gmacm.net/matthew_dolan
--
Lee Wareham - REALTOR®, TRC, e-PRO
The Tucker Group
Kinlin Grover GMAC Real Estate
193 Cranberry Highway - Route 6A
Orleans, MA 02653
800-275-9210 x141, 774-313-6091 Mobile
508-255-1489 Fax
mailto:lwareham@kinlingrover.com
http://LeeWareham.com
http://www.CapeTuckerGroup.com - The Tucker Group Cape Cod Real Estate Team Website
http://LoCape.com - a new "narrow search" local search engine - indexing lower Cape Cod websites only. Brought to you by the Tucker Group.
http://SearchCapeCodRE.com – sign up for daily email alerts and search MLS listings!
Friday, February 1, 2008
How Will the 01/01/08 Changes in State Building Codes Affect Cape Cod Construction Costs?
Effective January 1, 2008, new State building codes went into effect, with the prospect of a significant impact on future construction costs for those properties, both new construction and renovations, lying within 1 mile of Cape Cod's shoreline. At the time these new regulations were first revealed last year, it was generally thought that costs could be increased by as much as 40%.
There hasn't been much about this issue in print or in the news since the new regulations took effect. My last reliable source of information was by way of a newsletter from John A. Bologna, P.E., President of Coastal Engineering Company, Inc., in Orleans. I hope he doesn't mind if I share it with you. To access all of their newsletters, the Fall, 2007, one in particular, go to http://www.ceccapecod.com/newsletters.htm
Sally Tucker
Sally Tucker
The Tucker Group
Kinlin Grover GMAC Real Estate
193 Route Cranberry Highway – Route 6A
800-275-9210 ext. 141 Toll Free, 508-237-3765
mailto:SallyTuckerCapeCod@comcast.net
www.SearchCapecodRE.com – sign up for daily email alerts and search MLS listings!
www.LoCape.com - NEW! Localized search engine for Brewster, Eastham, Chatham, Harwich and Orleans.
Common Closing Costs for Buyers
The lender must disclose a good faith estimate of all settlement costs. A check to cover your closing costs will probably have to be a cashier’s check. The title company or other entity (on Cape Cod you will use a Real Estate Attorney) conducting the closing will tell you the required amount for:
Downpayment.
Loan origination fees.
Points, or loan discount fees you pay to receive a lower interest rate.
Appraisal fee.
Credit report.
Private mortgage insurance premium.
Insurance escrow for homeowners insurance, if being paid as part of the mortgage.
Property tax escrow, if being paid as part of the mortgage. Lenders keep funds for taxes and insurance in escrow accounts as they are paid with the mortgage, then pay the insurance or taxes for you.
Deed recording fees.
Title insurance policy premiums.
Survey.
Inspection fees—building inspection, termites, etc.
Notary fees.
Prorations for your share of costs such as utility bills and property taxes.
A Note About Prorations.
Because such costs are usually paid on either a monthly or yearly basis, you might have to pay a bill for services used by the sellers before they moved. Proration is a way for the sellers to pay you back or for you to pay them for bills they may have paid in advance. For example, the gas company usually sends a bill each month for the gas used during the previous month. But assume you buy the home on the 6th of the month. You would owe the gas company for only the days from the 6th to the end for the month. The seller would owe for the first 5 days. The bill would be prorated for the number of days in the month, and then each person would be responsible for the days of his or her ownership.
What to Keep From Your Closing
The Real Estate Settlement Procedures Act (RESPA) statement. This form, sometimes called a HUD 1 statement, itemizes all the costs associated with the closing. You’ll need for income tax purposes and when you sell the home.
The Truth in Lending Statement summarizes the terms of your mortgage loan.
The mortgage and the note (two pieces of paper) spell out the legal terms of your mortgage obligation and the agreed-upon repayment terms.
The deed transfers ownership of the property to you.
Affidavits swearing to various statements by either party. For example, the sellers will often sign an affidavit stating that they have not incurred any liens on the property.
Riders are amendments to the sales contract that affect your rights. For example, if you buy a condominium, you may have a rider outline the condo association’s rules and restrictions.
Insurance policies provide a record and proof of your coverage.
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