Lunenburg, MA 01462 - Now $637,500!

Mortgage Rates Drop (Today at least)!

I've seen a few 30 Year Fixed Rate Mortgage Rates get quoted today at 5.5%. This is GREAT for anyone considering buying!
Think: Prices beaten up over the past 3 years. Rates are where they were 3 years ago (+/-).
DO NOT MISS THIS Great Opportunity!

Timing Is Everyting!

The recent 'bail-out' of Fannie Mae & Freddie Mac has sent typical conforming 30 year fixed mortgage rates down into the low 6% range and possibly into the high 5%'s! This means that buyers have more purchasing power (can afford more house for the same payment as before)!
We all know that prices have declined over the past few years, however with the current decline in mortgage rates (which could be temporary),this is one of the best opportunities I've seen to buy in quite some time.
Check with your local lender for exact rates & terms as they may (and probably will)change!

Real Estate Marketing Changing Faster than the Market

Everyone has noticed that the Real Estate market has changed over the past few years. But has anyone noticed that Marketing Real Estate has changed, even more dramatically, during the same timeframe.

Traditional print advertising is all but dead.
Even Internet marketing strategies (if some even had one) don't work like they used to, and continue to diminish.

So if you are serious about SELLING your property in this market, lets chat. I'd love to show you all of the new & innovative things that Towne & Country, Realtors is doing to capitalize on this change. T&C, lead by Gerry 'RealtyMan' Bourgeois, has always been on the cutting edge of Marketing & Technology - And We Still Are!

Leominster, MA For Sale $347,500

Where Do You Get Home Listing Information?

A Study by the National Association of Realtors in 2007 found the following:
84% of buyers begin their search for a home online.
73% drove by the house as a result of seeing the house online.
57% actually scheduled an appointment to view the property they saw online.

Information Sources rated as "Very Useful" by buyers:
Internet - 78%
Realtor - 70%
Yard Sign - 29%
Print Ad - 17%

From the research done at T&C, we find that the vast majority of inquiries come from people who have seen a property online.
Yes, we still get some print-ad calls, but they are VERY Few and far between.

Anyone care to let me know what their favorite place to find homes for sale is? (Internet or Print).

North Leominster Home For Sale - $350,000

Loans Increasingly More Difficult to Obtain

Yes, lots of mortgage money is available. However, for many, the requirements to access this available money is still getting more stringent. FannieMae (FNMA) announced earlier this week that they were Increasing the 'Declining Market Delivery Fee' to .5% as of October 1st (which will of course be passed onto the consumer in the form of Higher closing costs or Increased interest rate).

Also, another trend is 'Credit-Scoring' the interest rate. Although this has been the case for quite some time, the Secondary Market is now looking at slicing the rate into far more credit score tiers.

I don't disagree with the rational of all of this, however, for anyone lookig to buy in the near future (that does not have a very high credit score) should not try to time the bottom of the market because it could really end up costing you more in the end.

You Don't Need A Realtor!

OK, I know this one that you have been thinking about. Why Do you need a Realtor?
I mean really, why do you?

First of all, there are 2 sides of a real state transaction: the Buying side and the Listing side. Lets start with the buying side...

You can get listings just about anywhere. There is all kinds of data online. You can just call the listing agent to see the house (oh, whos job by the way is to take all of your money and give it to the seller - their client). You can navigate the current changes in the mortgage market. And all other kinds of fun. And if you are moving from another part of the state or the country, it is even more fun.

And if you are a seller...
You can research comps online (if you can find them they are probably outdated). You can check Zillow (to see what your house probably Isn't worth - up or down).
You can check Trulia and get incomplete data (at least as of this post).
You can put an FSBO sign on your lawn and post on the FSBO sites (ensuring that you'll see most of the 'bottom feeders' looking to steal your house).

Hmm, maybe you do need us?

Could This Be The Best Time To 'Trade Up' in Real Estate?

Ok, anyone who does not live in a cave on a remote island somewhere (and probably them too) know that the real estate market has been beaten up over the past couple of years. Most of us know how and why we got here and where things went 'wrong'.

Fine, we were 'there' and now we are 'here', but has anyone cared to take a look at where 'here' is?
House prices have fallen pretty much across the board in Leominster, MA and the rest of North Central Massachusetts (some areas more than others). One of the interesting facts is that the Fixed Rate 30 year mortgage has been ranging in the 6%'s for quite some time now - with the rare occasional dip into the very high 5%'s. So, prices have softened but rates have remained relatively stable (and still historically very low).

So what does this mean? In my opinion, this is one of the BEST times to trade up to a more expensive home. Why?
Many people are trying to 'downsize' which is resulting in a lot of inventory on the upper end of the market - therefore supply/demand is in your favor.

In addition, the market is very compressed in many of the towns in central MA. Meaning, that a 'little more money' will buy you a LOT more house. Just compare what you can get in Leominster, MA for $250,000 to something at $350,000 and you'll clearly see what I mean.

Also, you are buying into the down market. When prices appreciate (and they will at some point), the percentage gain on a larger value will result in a larger return (e.g. 20% of $500K is greater than 20% of $275K).
And remember, mortgage rates can't stay this low forever.

So there is opportunity for those with a long-term view of residential real estate. How does it play into your current situation? I don't know - but contact me; I'd love to help you figure it out.