Maintaining the Equity in Your Home

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Maintain the equity in your home

It happens often, people don’t give enough thought to maintaining and increasing the equity in their homes, until they call us to help them sell it!

From the moment home ownership is taken, the impact of improvements and revisions should always be in the forefront of the decision making process, with attention given to increasing and maintaining home equity.

We advise our clients, even if they don’t think they will ever sell, they should still be mindful of, and prepared for that possibility. A tempting, unexpected opportunity may come along, or life circumstances may change, and suddenly a decision is made to sell. It is at this pivotal point that the homeowner would understandably like to get as much return as possible on their valuable asset.

Below are just a few things to consider with regard to maintaining home equity: Read More →

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Quick! What’s the price of that home? Want details & photos?

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Get the Home Snap App!If you are out driving or walking through a neighborhood and you would like immediate information about a home that you see, this app will give you the information. If it is a home that is currently on the market or has recently sold you will get photos and details straight from the MLS.  Just snap a photo of the home or your location with one button. We have tested it out and it works very well. Click on the photo to get the app. It’s easy!

 

 

 

Contact John & Cindy Farrell if you want more information or need assistance. 978-468-9576

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Getting Your Offer Accepted – 5 Mistakes to Avoid

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Townhouses in HamiltonThere are many details to consider when you are planning on purchasing a home. Whether it’s your first time or you have experience it’s important to consider the importance of negotiation. Negotiation starts well before you have even considered whether you will be placing an offer on a home. You don’t know when you will be in the home you decide you would like to buy. If it’s your dream home you will be disappointed if there are multiple offers and you have compromised your chances of being the successful bidder. Below are just five potential mistakes to consider before you find the home that’s right for you.

  1. Not having a financial plan and a solid pre-approval with a reputable company.
  2. Being dishonest. Telling the listing agent you aren’t working with another agent when you are. Saying false things about your situation. Seller’s will be concerned about working with an offer from someone that isn’t honest.
  3. Putting homes under agreement and renegotiating the price repeatedly. It is quite possible you will get a reputation. Remember people know each other in the communities you are trying to buy a home in!
  4. Insulting the owners and their home as a negotiating strategy. You will not get the home for a lower price. The seller will go with an offer from someone that is more complimentary and someone that they think will be easier to work with.
  5. Not carefully choosing an agent to represent you. Among many other qualifications. They need to have excellent negotiating skills.

Contact John & Cindy Farrell for information about buyer representation. 978-468-9576

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Mobile Real Estate Search

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Have you tried out our mobile real estate search?

When you are out with your mobile phone pull up our website. Scroll to the bottom and click where it says “Mobile Real Estate Search” and the nearby houses that are on the market will come up on a map. You can then pull up the information for each one that you are interested in, and get the data and photos that are available.

It works on your desktop and tablet as well. On those devices just click on the link in the bottom right hand corner that says “Mobile Real Estate Search”.

Add this link to your home screen and when you come across a for sale sign as you are traveling about, you can look up the price and information while you are in front of or near the property. It’s so easy! Read More →

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6 Mistakes to Avoid When Buying a Home

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Centerville Beverly, MAThe process of buying a home seems simple enough. You decide to buy, you find a home, you get a mortgage and you move in! It’s not that simple and those steps are only a small piece of the entire process. The following list outlines common mistakes to avoid during the early part of the home buying process.

 

 

  1.  Not taking care in choosing the professionals you work with. This includes but is not limited to your real estate agent, attorney, mortgage broker, and inspectors. There could be others depending on the property you plan to purchase. Check references and reviews. This is the most important as these professionals will be your guides and primary source for information. Make sure they are qualified!

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The Final Walk-through

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Your last trip through your new house before the closing.

North Shore Real Estate Photos

From the time you have put the property you plan to buy under agreement, completed your inspections and finalized the sale, quite a bit of time has elapsed. It is imperative that you walk through the home prior to closing to make sure everything is in order and in the same condition as when you agreed to buy it. It is helpful to bring a copy of the contract with you in case it’s needed as a reference. Schedule the walk-through as close to the closing date as possible. Read More →

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What is the value of a home? How do I figure it out?

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Tax Assessment? Bank Appraisal? Comparative Market Analysis?

Real Estate Values North Shore of Boston

Questions we are often asked by both sellers and buyers in reference to the value of a property are: What is a Tax Assessment, a Bank Appraisal and a Comparative Market Analysis? How do they differ?

There are definite differences in who calculates these numbers and how the figures are determined. Below is a general explanation of the differences.

 

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Rent or Buy a Home?

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Coldwell Banker Residential Brokerage – John & Cindy Farrell

Beverly MA - Rent or Buy a Home

The New York Times has a great interactive calculator that shows at what point to think about whether it is better to buy or rent. It has the ability to input many factors.

There are also other points to consider including what type and style of a home do you want to live in? What locations do you prefer? What type of rentals are available? Do you know how long you plan to be in your home? We represent and advise buyers with the potential purchase of a home. Contact John & Cindy Farrell 978-468-9576.

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Home buyers in today’s market and real estate trends

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Coldwell Banker Residential Brokerage – John & Cindy Farrell

The National Association of Realtors have prepared this presentation showing an “Overview of Home Buyer Data” taken from surveys. This is great information to have if you are buying or selling real estate. We can assist you! Contact John & Cindy Farrell 978-468-9576.

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Buying a Home and the Real Estate Process

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John & Cindy Farrell – Coldwell Banker

The process of buying a home - Cape Ann

Getting ready to buy a home in Massachusetts. Are you getting ready to buy a home? Are you feeling confused about the process? Each and every real estate transaction is unique in many ways. But there is a standard chain of events that happen and having an understanding of what the process is will make the transaction go much more smoothly and will give you the opportunity to avoid uneccesary delays or pitfalls.

 

  1. Interview and hire a Real Estate Agent to assist and represent you. That could be us! We can do that.
  2. Financing is the first step. You need to know what you will be approved for. In addition, it is important to know what your payments and costs may be so you can decide what you are comfortable with.
  3. Visit and research homes and locations. Arrange for automated emailsof homes available. Simultaneously research the real estate market.
  4. While looking for homes decide who you will use for an inspector and real estate attorney.
  5. Put a well presented offer on the home you choose and secure an agreement to purchase the property.
  6. Complete the loan application with your mortgage broker.
  7. Give all the home information and documents that need reviewing to your real estate attorney.
  8. Complete home inspections by date specified in the contract.
  9. Sign Purchase and Sale Agreement. Your agent and mortgage broker needs fully executed copies.
  10. Receive and provide to your real estate agent a mortgage commitment by the date specified in the contract.
  11. Set up accounts with utilities and secure home owners insurance. You will need proof of insurance, an insurance binder, for your mortgage broker.
  12. The closing place and time will be scheduled with all parties involved.
  13. Review the HUD settlement statement.
  14. Walk through the property right before closing to make sure everything is as it should be when you take ownership.
  15. Close on your home – Congratulations!

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