Resources ... Let Us Know How Can Help
If you plan to purchase your first or tenth home, start here. Buying property in Massachusetts is not difficult, but it's helpful to understand and be aware of the local customs before you start your search. Our goal is to help guide you toward the best decision for your unique situation. To do this, we believe that a well-informed client will ultimately be the most satisfied, too. We look forward to discussing the current market conditions and trends with you - most important, we can't wait to help you discover your dream home!
Check out our on demand home buyer video seminar here! After registering, you'll have instant access to our on demand buyer consultation and we'll immediately mail (USPS) your home Massachusetts Home Buyer Booklet. It include everything you need to buy a home in Massachusetts - even sample forms. Click here to get access now!
Selling your home is a big decision. It's not just about moving, it's about identifying a proven seamless process that will help maximize the value of current property within a timeline that meets your specific needs.
There's no doubt that this can be a stressful process, but after successfully selling 100s of homes, we've identified the smoothest processes, most effective marketing strategies and negotiation techniques to ensure the highest sale price with the least amount of hassle. Contact us today for a no obligation consultation.
Senior Options
Connect with experts to discuss senior living options. Knowing where to begin is the hardest part, so we've included a few helpful resources below:
Home Hazards
Asbestos - Asbestos.com provides a Guide to Asbestos in The Home ... it outlines common asbestos locations, related heath concerns and how to deal with asbestos when it's found. Tips on how to hire an asbestos remover can also be found at asbestos.com.
Lead Paint - Slowly phased out in the 1960s and 1970s, lead paint was ultimately outlawed in residential use in 1978. Consequently, all homes older than 1978 are suspect; however, there are many ways to mitigate lead paint and costs can vary. In recent years, the government has eased mitigation requirements to encourage lead compliance. The below sites provide additional information about lead paint safety ... you can even search property to see if it's been tested for lead paint.
Mass.gov - Search property testing history
Massachusetts Childhood Lead Poisoning Prevention Program’s Lead Safe Homes 1.0 database
New England Lead Prevention - Information for home buyers, tenants, landlords, etc.
What Mortgage Rate Are You Waiting For?
What Mortgage Rate Are You Waiting For?
You won’t find anyone who’s going to argue that mortgage rates have had a big impact on housing affordability over the past couple of years. But there is hope on the horizon. Rates have actually started to come down. And, recently they hit the lowest point we’ve seen in 2024, according to Freddie Mac (see graph below):
And if you’re thinking about buying a home, that may leave you wondering: how much lower are they going to go? Here’s some information that can help you know what to expect.
Expert Projections for Mortgage Rates
Experts say the overall downward trend should continue as long as inflation and the economy keeps cooling. But as new reports come out on those key indicators, there’s going to be some volatility here and there.
What you need to remember is it’s not wise to let those blips distract you from the larger trend. Rates are still down roughly a full percentage point from the recent peak compared to May.
And the general consensus is that rates in the low 6s are possible in the months ahead, it just depends on what happens with the economy and what the Federal Reserve decides to do moving forward.
Most experts are already starting to revise their 2024 mortgage rate forecasts to be more optimistic that lower rates are ahead. For example, Realtor.com says:
“Mortgage rates have been revised slightly lower as signals from the economy suggest that it will be appropriate for the Fed to begin to cut its Federal Funds rate in 2024. Our yearly mortgage rate average forecast is down to 6.7%, and we revised our year-end forecast to 6.3% from 6.5%.”
Know Your Number for Mortgage Rates
So, what does this mean for you and your plans to move? If you’ve been holding out and waiting for rates to come down, know that it’s already happening. You just have to decide, based on the expert projections and your own budget, when you’ll be willing to jump back in. As Sam Khater, Chief Economist at Freddie Mac, says:
“The decline in mortgage rates does increase prospective homebuyers’ purchasing power and should begin to pique their interest in making a move.”
As a next step, ask yourself this: what number do I want to see rates hit before I’m ready to move?
Maybe it’s 6.25%. Maybe it’s 6.0%. Or maybe it’s once they hit 5.99%. The exact percentage where you feel comfortable kicking off your search again is personal. Once you have that number in mind, you don’t need to follow rates yourself and wait for it to become a reality.
Instead, connect with a local real estate professional. They’ll help you stay up to date on what’s happening and have a conversation about when to make your move. And once rates hit your target, they’ll be the first to let you know.
Bottom Line
If you’ve put your moving plans on hold because of higher mortgage rates, think about the number you want to see rates hit that would make you re-enter the market.
Once you have that number in mind, let’s connect so you have someone on your side to let you know when we get there.
Other Useful Tools
Financing ... everyone's budget and cash flow is different. Whether you you get paid on a salary, hourly, bonus or commission basis, understanding your monthly obligation is critical when buying a home.
Here is a link to a mortgage calculator to help you start your planning.
Explore A Career in Real Estate!
Real estate can be a very rewarding career ... each day we have the opportunity to meet and help new people! Being able to help someone start a new stage of life is an extremely gratifying experience.
It's relatively easy to get started, but knowing where and how to start is the biggest challenge. Unfortunately, the state licensing exam doesn't cover any marketing or business planning ... so new agents are often left to sink or swim! In 2023, the National Association of Realtors estimates 10,000 agents are being forced to leave the business each month!
After being in business for 20+ years, I've been able to help many buyers, sellers AND agents succeed. Getting started the right way with the right company can make or break an new agent. eXp Realty is now selling more homes than any other brokerage, so we have tools and training to help you succeed. Moreover, it would be my pleasure to introduce you to the company's tools, answer any questions that you have about the business and share my systems and training so that you are able to quickly launch your new business. Let's connect!