I feel that Massachusetts does a pretty good job, either thru grassroots organizations or towns saving money, in providing recycling opportunities to the local residents.

Ashland Recycling Program Info

Framingham Recycling Program Info

Holliston Recycling Program Info

Hopkinton Recycling Program Info

Medway Recycling Program Info 

Milford Recycling Program Info

Millis Recycling Program Info

Natick Recycling Program Info

Sherborn Recycling Program Info

Check out the previous posts regarding related sites:

Hazardous Waste Dates

Asbestos Removal Article from 2008

I hope you find these links as a useful source of information whenever you are searching out information on your town’s recycling program.

1. Are there a bunch of foreclosures driving down home values in our area?
2. How much of a discount can I get if I buy one of these foreclosure properties?
3. Is the market getting worse or better out there?

Foreclosures in Massachusetts

RealtyTrac reports that Massachusetts is one of the top 5 states in % of foreclosure sales for the 1st quarter of 2010. (June 30th – Not really sure why it took so long to issue these stats??)  As alarming as this sounds, let’s look a bit closer…

Number of foreclosure sales were 2,111 in quarter 1, which is 42% of all sales!  Sounds bad, right? 

How does this compare to other states they reported on?  It works out to .9% of Total foreclosures in the United States.

Still digging a bit deeper, I checked MLS data for number of sales in MA for the 1st quarter.  MLS reports 6628 total single family home sales, which works out to 32% of all single family home sales are foreclosure sales.  Since they report 2,111 were ALL sales, let’s add condos and multifamilies to that number… now it is over 11,000 sales, or about 19% of all sales. 

Remember, this MLS data does not include any For Sale By Owner homes either.

OK, I know what your thinking… It is still a high number, Ed!  I agree.  So, because I am not feeling this strain on the marketplace as a Full Time Realtor in Metrowest Boston, I want to dig even deeper!

In the Metrowest towns of Ashland, Framingham, Holliston, Hopkinton, Natick, and Southborough I pulled data from MLS regarding bank owned property.  Here are the findings using only single family properties since the start of 2010:

17 out of 552 Active homes are labeled Bank Owned (3%)

13 out of 158 Under Agreement homes are Bank Owned (8%)

34 out of 597 Sold homes are Bank Owned (5%)

I don’t know about you, but there are two results from this investigation. 

     Number 1 is that I feel better now than I do after reading RealtyTrac’s data.

     Number 2, where the heck are they getting those numbers from?  

Some explanations is that they classify homes in “pre-foreclosure” or “scheduled for auctions” and MLS is only as good as the agent that enters in the data as “lender owned” or “Short Sale”. 

In my test of RealtyTrac’s data, the 1st property I checked was in Ashland.  It was listed as a fairly new addition to the property site.  Come to find out it was sold months ago on MLS.  So for some reason their data is not updated as it should be.

Discounts when Buying a Foreclosure Property

Realtytrac reported that there is quite a discount that a buyer of a foreclosed property can receive.  Again, take this with a grain of salt since the way they create these numbers is, in my opinion, flawed. 

Massachusetts’ average Foreclosure sales price is reported as $161,089.   This is about a 35% discount to non-foreclosure sales in the marketplace for the 1st quarter.

They seem to compare Average Sales Prices of all Foreclosure Sales to Average Sales Prices of Normal Sales.  Since the majority of Foreclosure properties are on the lower end and are trashed by the past owners or lack of upkeep, OF COURSE they are going to be a discount.  Classify this stat as

“worthless data for people who think for a moment!”

From my experience, if you are handy and have some cash… there are lots of great deals out there to go after.   These are both foreclosures and non-foreclosures!

Local Market Conditions are Improving

The best evaluation of the local marketplace, in my opinion, contains the following:

A Local group of towns

Use a Specific category of housing, such as Single Family Homes

Look at past several years data to compare it to

Use 6 mos. or a year worth of history

When I do this for Metrowest Boston towns (specifics I am happy to share if you wish), I find the marketplace is showing strength even though Home Owners have taken a hit on property values over the past several years.  So, better for Buyers than it is for Sellers.

Here are two tidbits:

     Average Days on Market is 96.  Over the past 5 years this has ranged from 85 days to 119 days, so very reasonable.

     Ratio of Selling Price to Listing Price is 97%.  Over the past 5 years this has ranged from 96-98%, so again, very reasonable number.

I put together a graph of the Selling Prices over the course of the past 5 years for these Metrowest towns.  There is a 17% decrease in Median Home Values over this time frame.   This is data from July to July in each one of these years.

Here is a graph of the Total Number of Sales for these local towns.  Look at that promising increase of sales over the past year!  The area is running 10% fewer sales than we had 5 years ago.

Everyone under the sun is forecasting that the economy is faltering again, and it is very rare to hear that any uptick in this marketplace has legs to it.  Therefore, my report is that the local marketplace numbers right now have strength.  We will have to evaluate in this way, often, to see if this continues.  I will keep you posted on these numbers over the second half of the year.

Framingham MA

The home is very nicely updated.  The owners, David and Maria Shapiro, worked very hard to update all areas of the multi level home. 

The hardwood flooring is gleaming, the kitchen has all new appliances to go along with tile and new cabinetry.  Bathrooms renovated, heating system is updated, and everything has a fresh coat of paint. 

The asking rent for this home is $2000 per month, and the tenant cares for all utilities.

This is the best type of showing I could ask for as a local Metrowest Realtor!

Renovated Kitchen

So, the report is IN… the Framingham rental market is alive and well!  Plenty of strong candidates applied for the home, and it looks to have a great match in only a few days!

This project brings much needed affordable housing to Holliston.

This 3 1/2 story building will house 30 units and parking for over 50 cars, half underneath the building.  Every single unit will be affordable. 

This means that if your income level falls under 60% of the prevailing median income, these units are available to you. 

Three of the units are for households that fall under 30% of the median income guidelines.  Holliston residents receive preference in these types of developments.

Based solely on 2009 median income figures from MA state websites, the 60% qualifying income levels look to be:

• 1 person household        $27,876
• 2 person household        $36,454
• 3 person household        $45,031
• 4 person household        $53,608

I will follow the building of this development, which they expect will take about 12 months to complete.

Metrowest Daily News article on Cutler Heights.

Funding for the project comes from a variety of sources.   Townspeople pay into a Community Preservation Act fund in their taxes, and this is one source. 

Additional sources include $2.2 million in state funds, and most importantly, $3.9 million in federal stimulus money. 

Yes, that’s right, Holliston is getting it’s little piece of the stimulus funds.  Frankly, without the state and federal funds, this project would have been dead in the water.

Clearing Cutler Heights

Affordable housing seems to get a reaction of “not in my backyard”, but this location and the great need this community has outweighs any negative points on this project. 

Cutler holds a special spot in my childhood, and I am glad to see this project moving forward!

Ed Daniels is a graduate of Cutler School 1st grade and currently is a Realtor with Re/Max Executive Realty.  His classmates can catch up with him by calling 508-341-7880 to plan our next reunion.

What do you have to do?

Upgrade your heating system equipment to prevent leaks from tanks and pipes that connect to your furnace.  The upgrade is:

Install an oil safety valve or an oil supply line with protective sleeve on systems that don’t currently have this system.

Benefits for the Homeowner

The new law requires insurance companies that write homeowners policies to offer coverage for leaks from heating systems that use oil.

A leak may result in exposure to petroleum vapors in your home.

If the leak reaches groundwater or soil beneath your home, then a cleanup must be performed to restore your property to the tune of up to $250,000.  Even a “simple” leak can be as much as $15,000.  Several hundred Massachusetts homeowners experience some kind of leak each year.

Read all the specifics at this Massachusetts Homeowner Oil Heating System Upgrade and Insurance Law webpage.

What does it Cost?

Typical cost is from $150-$350, which includes parts, labor, and permits.

There’s nothing to sell!!

Compared to 2009, the number of available listings fell 15%.  In 2009 there were 67 listings, today there are only 56.

The Big Picture:

The Warren Group reported on the February real estate market for all of Massachusetts:

• Single Family Median Prices jumped 8.4% vs. Feb 2009
• Single Family# of sales climbed 13.5% vs. Feb 2009
• Year to Date Median Prices are up 9.8%

• Condo Median Prices jumped 6.8% vs. Feb 2009
• Condo # of sales climbed 8.9% vs. Feb 2009
• Year to Date Median Prices are up 10.6%

Is this a trend?

Median home prices have risen for 3 consecutive months (year over year).

Number of Sales in homes have risen year over year for 8 months in a row.

What is happening more recently?

The Massachusetts Association of Realtors tracks Pending Sales.  This tracking of signed Purchase & Sale Agreements provides reliable information about upcoming sales numbers. 

The number of homes put under agreement in March was up 27 percent compared to the same time last year.  Condos jumped 38%.

See full report from MAR on pending numbers.

Specifically Holliston:

Over the 1st 3 months of 2010, there were 20 sales, with a median price of $336,000.

Compared to 2009 sales, there were 15 sales and median price of $315,000.

Average time on market was 97 days.

Compared to 200 average days on market in 2009.

Sellers received 97% of their Listing Price, and 93% of their Original Asking Price last quarter.

That, my friends, is strength in the local real estate market!

I have learned to just say NO (thank you).

Furnishing Options of Marlborough may be the resource that says YES.

The mission of Furnishing Options is to provide a variety of household items to individuals in need, low-income families or individuals recovering from mental illness or other disabilities.

Any donations that can make a house into a home for people who may be struggling are welcome.

Be sure that the items are clean and in good working order, and give them a call to see if they can arrange to come pick up the goods (for a small contribution).  They are limited with volunteer resources, so call to inquire.  They can be reached at 508-485-5051 x245.

Visit the website for more specific lists of what they take and don’t take:  Furnishing Options

Ed Daniels of Re/max Executive Realty serves the Metrowest Boston housing market.  Call him at 508-341-7880 if considering buying or selling a home.

This Sunday, April 11th, it is forecasted to rain, so go check them out.  As part of a national push by Realtor associations, 35 states have agreed to increase open house availablity on this weekend. 

As of Friday, there are 27 open houses planned in Ashland, 27 in Holliston, 64 in Framingham, 77 in Natick, 28 in Hopkinton, and 66 in Franklin, to name a few.

Goals are to increase awareness of the available homes, kick off the Spring market, and capture home buyers prior to expiration of generous tax credits.

Many potential first-time home buyers are feeling pressured to find a house because they need a purchase-and-sale agreement by April 30 to qualify for an $8,000 tax credit. A similar deadline confronts so-called “move-up” buyers who want to use a $6,500 credit to help buy their next house.

MassHousing is also holding their annual Home Buyer Fairs called Opportunity Knocks.  Check out the website for locations and times.  The event offers free counseling services for prospective Buyers.

Where are the Open Houses?  Go to www.MARealtorOpenHouses.com for a quick search.

Better yet, call Ed Daniels for a private tour of all the homes available on the market!

Click here for report on National Website Traffic. 

Realtor.com has been on the scene for a long time and has consistantly reported more traffic than all other sites.  Here is a report out that lists the top websites dealing with real estate.  Are you listed there?

Being a home seller in today’s marketplace requires you to be found on most of these.

Because the MLS data is shared with almost all of these sites, just by getting your home listed on MLS will cause it to be found on most of them. 

Do you get added exposure on these sites when you list with your agent?  This includes additional pictures, attaching a virtual tour, links to your listing agent, floor plans, etc.

Ed Daniels of Remax Executive can be found at www.MAhome.com, which just misses the number 1 spot of 7 M unique visitors per month!

You are still frantic getting ready for the first open house.  Looking over the Massachusetts homes for sale on MLS has been a pasttime of yours for at least a month. 

Boy, you are practically famous… your home is there in the real estate section of the local paper.  Thousands of readers are going to be viewing your beautiful home!

Sorry, Reality here! 

The majority of Serious buyers are NOT looking in the real estate section of the newspaper.

Want to hear the top 3 people looking at the real estate section:

• Home sellers
• Real Estate Agents
• Moms of home sellers

If you are serious about hearing where the Home Buyers are coming from, there is one main source to turn to.  The National Association of Realtors  conducts a survey each year and compiles the results in a Profile of Home Buyers and Sellers.  Over 9,000 buyers and sellers of the past year responded to the survey.

The results of this survey:

3% of home buyers used newspapers and buying guides as their first step taken in the buying process.

47% of buyers researched on-line for homes or home buying information.

In response to additional questions about what information sources were used in their home buying search:

90% Internet

87% Real Estate Agent

59% Yard Sign

46% Open House

40% Print Newspaper advertisement

So, as a smart businessman, when I am given the job of marketing your home for sale, where do you think I invest all my time and energy?  Getting a home in the best possible position on the internet and with the local Realtor community is my main focus! 

Great pictures, virtual tours, staging of a property, Featured internet exposure, and broker tours are the ticket to selling a home!

Of course it is nice to see your home in the newspapers, but unfortunately, it is not even close to being as important as presented well on the internet!

Ed Daniels of Remax Executive Realty can be reached at 508-341-7880 or Ed@MAhome.com.  The MAhome Team works with buyers and sellers of real estate in the Metrowest region of Boston, Masschusetts.