How’s the Market Doing in Wellesley? Read the Latest Market Update - 9/30/2008

Monthly market performance:
As of September 30, 2008, there were 133 single family listings in Wellesley (including Wellesley Hills and Wellesley Farms) on the Multiple Listing Service (MLSPin). We continue to see a strong upward growth of new listings coming on the market, with a few new luxury home listings being added in the $2.5 million plus range. During September, 43 new single family listings were added to our MLSPin, with an average list price of $1,677,856.
The average list price is $1,803,219. …

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Are You a Responsible Dog Owner? This is a MUST Read

received the attached e-mail the other day. As a responsible dog owner in Massachusetts, I found this information to be very alarming. I urge all Massachusetts dog lovers to write to their local state representative or senator to let them know that this proposed legislation is harmful to owners who show, handle, breed and care for their dogs as they would their own children. Also, the message from the AKC about the need to control dangerous breeds has been distorted to include all breeds.

This is bad news for us all!

Read the message below:

“As …

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Don’t Overlook the Value of Bathroom Improvements!!!

Valuable information to share with buyers and sellers.
According to the National Association of Realtors’ (NAR) annual “Cost vs. Value Report,” the bathroom is one of the most important features potential buyers look for in a home. What’s more, NAR’s 2007 report shows that a bathroom remodel recouped 93.2 percent of the initial cost upon selling the home.
Will Smith, celebrity interior designer, suggests that homeowners pay close attention to the bathroom mirror, paint, hardware and lighting. Each can easily and inexpensively be updated to provide a current look for a bathroom.
Making over a bathroom on …

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The Grass Really is Greener with WEICHERT, REALTORS®-Synergy

Are there any members of out there that want to come home, where not only is the baseball better, but SO IS THE LOCAL REAL ESTATE MARKET!!!

in Wellesley Hills, MA is HIRING NEW AND EXPERIENCED AGENTS.
We are an exciting, new affiliate of Weichert, Realtors that just started up on May 1, 2008 and are looking for agents who believe in designated agency and who have what it takes for a successful career in real estate. Due to the ENORMOUS SIZE of our internet generated …

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Where do Mortgage Rates Come From?

Where do mortgage rates come from? Not the 10 year nor 30 year Treasury as many think.

Why and how mortgage rates change in the marketplace is often misunderstood – even by the news media. They often report mortgage rates will go down when the Federal Reserve announces a rate cut when sometimes the opposite can happen.

How do Federal Reserve rate changes affect mortgages?

Fed rate changes don’t directly affect mortgage rates. Instead, they affect the inflation expectations of investors. The role of the Federal Reserve in our economy is to control inflation so we have long-term economic growth and prosperity. If …

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Bye Bye Newspaper Advertising for Real Estate

As further evidence of the shift to online advertising, the Los Angeles Times has announced it will no longer publish its weekly real estate section. Click here for the entire news story.

Is Boston next? As a Realtor®, I am often asked by Sellers and Agents alike, why I am reluctant to use the newspaper for marketing and listing of properties for sale. Besides the high cost and low return on the advertising dollar spent, over 80% of homes are sold because somebody saw the listing on the Internet.. What could be more convincing?

I …

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FAQs about the HOPE For Homeowners Legislation

This is hot off the press news. President Bush has signed into law the HOPE for Homeowners Legislation on July 30, 2008.

When does the program start?

The legislation is effective upon enactment; the HOPE for Homeowners program goes into effect on October 1, 2008. The Oversight Board will write more detailed program rules.

What agency is administering it? Will people be calling state offices or federal? Or will people just contact their lenders directly?

The Federal Housing Administration (FHA) will administer the program. The process begins when a homeowner or servicer of an existing eligible loan contacts an FHA-approved lender. Homeowners can …

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New Housing Characteristics

THEY’RE GETTING BIGGER AND BIGGER

According to the Census Bureaus’ Characteristics of New Housing report for 2007, the average square footage of homes is currently at a historic high.

On average, a completed single-family home had 2,521 square-feet, up 2.1% from 2,469 square-feet in 2006.

Additionally, the report provides characteristics on indoor and outdoor housing features. Data from this report gives insight into current trends to better understand today’s buyer.

Home-size findings from the report include:
• The average square footage of new homes completed has grown about 46.6 percent since 1 977, when the average was 1,720 square-feet.
• About 26 percent of all new single-family homes …

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Weichert Forecasts Housing Market on the Rise

Real estate pioneer calls the bottom of the market and expects home sales to begin showing modest, steady increases

As president and founder of Weichert, Realtors, one of the nation’s largest privately-held real estate companies, James M. Weichert has seen his share of market shifts. In fact, Weichert has become quite efficient at predicting changes by regularly studying the factors that shape the housing sector. Yet, this well-respected industry pioneer has never felt so strongly about a market shift that he would come out and declare so publicly – until now.

In a message to the company’s nearly 1 8,000 sales associates …

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Do Wellesley Buyers Prefer One Stop Shopping?

You’ve just signed an Offer to Purchase on your new dream home. Your energy level is at an all time high, and if you had your way, you’d close on the transaction tomorrow. But what does your Realtor do? Does he/she hand you a list of lawyers, mortgage lenders and other service providers and pleasantly tells you to go through the list and “find someone that you like?” That might be ok if you are a seasoned homebuyer who knows exactly what questions to ask and otherwise manage these relationships. Or, does your Realtor take …

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