Blog :: 02-2013

Real Estate Agents Watching the Market

We continue our search for local real estate agents opinion on the state of our Pioneer Valley market.  Our recent post, "Real Estate Market Brighter in 2013", shared the Massachusetts Association of REALTORS's recent agent survey.  Agents across the state see positive movement in the market.

 I took the opportunity to ask our Coldwell Banker Upton-Massamont REALTORS what they think is happing in our local markets.

"What a fantastic market for both Buyers and Sellers.  We usually see one or the other, but this is a good time for both.  Interest rates remain low with stable home prices for the Buyers and for the Sellers we are seeing signs of market recovery; plus the inventory is low, prices look to be slowly ticking up again and most importantly there are a lot of Buyers looking to buy now!"  -Tami Gaylor & Joanne McGowan of the Gaylor & McGowan Team

This award winning team may be contacted through our South Deerfield, MA Office at (413) 665-3771 x103 or x109 or feel free to email them at gam@cbumr.com  Click HERE to check out their profile.

Gretchen O'Neil from our new Amherst, MA office said, "The current market is full of buyers ready to pounce.  There is a shortage of inventory and buyers are tired of the same stale listings.  As a result, when sellers have put their homes on the market within the past month, slightly ahead of the spring market and priced right, buyers have snapped up these homes quickly.  I think home prices will be up just a little over the next year."

Contact Gretchen at (413) 626-8653 or email her at Gretchen.ONeil@cbumr.com

 

 

Real Estate Market Brighter for 2013?

The Massachusetts REALTOR® Market Confidence Index (RMCI) and Price Confidence Index (RPCI) results were released this week.  (More Information from MAR)

All the information gathered clearly show sales have been up and inventory down.  I took the opportunity to ask our Coldwell Banker Upton-Massamont REALTORS what they think is happing in our local markets.

"I think the housing market is off to a strong start and prices have stabilized.   It is too early to predict, but thinking we might see less homes on the market than we have in previous years.   If this happens you will see house prices increase starting 2014." - Wanda Mooney

Speak to Wanda directly at  (413) 337-8344 x1 or email her at Wanda@MooneyandRoberts.com  or check out her website.

 Carol Bolduc said, "We are moving out of recovery and returning to good health".  She sees our market over the next year as stable and more balanced supply and demand.

Contact Carol at (413) 625-6366 x102 or email Carol@cbumr.com

Real Estate Lingo Decoded

Buying or selling a home can be complicated enough but add in the lingo and you may feel like you are listening to a foreign language. Coldwell Banker Upton-Massamont REALTORS agents speak both Real Estate and Customer.  They thrive on sharing the process of the transaction and helping you understand it all the way.

Here are a few real estate terms decoded.

Assessed Value- Assessed Value is the valuation placed on property by a public tax assessor for purposes of taxation.

Closing Costs -Closing costs are all of the miscellaneous expenses paid by the buyer and the seller when a real estate transaction closes. These costs can include real estate commission, mortgage fees, attorney fees, transfer taxes, recording fees, and title insurance.

CMA -CMA is short for comparative market analysis or competitive market analysis. A CMA compares the prices of homes sold, homes currently on the market and homes pending to a subject property. A CMA may be prepared for a buyer or a seller to determine market value. The CMA accounts for style, size, location and other factors that make the homes comparable.

Contingency - A contingency is a provision of an agreement that keeps the agreement from being fully legally binding until a certain condition is met. Common contingencies are a buyer's contractual right to obtain a professional home inspection before purchasing the home or obtain mortgage financing.

Deed-The deed is the legal document conveying title to a property.

Earnest Money Deposit- The earnest money deposit is a deposit made by the potential home buyer to show that he or she is serious about buying the house. This is typically made at the time of the offer to purchase.

Lock Box - A lock box is a secure key-holding device. It is used to hold a key for a home that is for sale. This allows cooperating real estate professionals to gain entry into the home. Entry is usually granted after obtaining permission from the listing agent or office.

MLS - The MLS or Multiple Listing Service is an organization that collects, compiles and distributes information about homes listed for sale. Real Estate brokers are members of the MLS. Membership is not open to the general public. The MLS is used for real estate professionals to share information about homes for sale to other agents. MLS boards are local or regional. There is no nationwide MLS.

Short Sale- A short sale is when the seller arranges with their mortgage lender to accept a price that is less than the amount they owe on the property. The lender typically agrees to forgive the rest of the loan. A short sale arrangement is made between the seller and the mortgage lender.

Title Insurance - Title insurance is an insurance policy that protects the lender's or owner's interest in real property. Title insurance as it is named protects against claims against the title or from unexpected or fraudulent claims of ownership. Buyers typically pay for the lenders title insurance policy as part of the closing costs.

We look forward to serving the Pioneer Valley with 4 offices: Shelburne Falls, MA - South Deerfield, MA - Florence, Northampton, MA and our new office in Amherst, MA.  Call today to meet with our Coldwell Banker Upton-Massamont REALTOR

More Properties Sold in Charlemont, MA

Charlemont, MA:
This Single-Family in Charlemont, MA recently sold for $135,000.

This is a Contemporary style home and features 6 total rooms, 2 full baths, 3 bedrooms, 5.06 acres, and was sold by Office - South Deerfield - Coldwell Banker Upton Massamont REALTORS

Here are some other properties available in Charlemont,MA you may like:

Charlemont $194,900Charlemont $150,000Charlemont $192,000Charlemont $115,000



Charlemont, MA:
This Single-Family in Charlemont, MA recently sold for $162,000.

This is a Ranch style home and features 8 total rooms, 2 full baths, 3 bedrooms, 0.73 acres, and was sold by Office - South Deerfield - Coldwell Banker Upton Massamont REALTORS

Here are some other properties available in Charlemont,MA you may like:

Charlemont $115,000Charlemont $194,900Charlemont $192,000Charlemont $150,000





2012 REALTOR Assoc, President's Awards

The Annual Award Season has officially begun!  Whether you receive a Grammy, Emmy or REALTOR Association President's Award, you are honored to have succeeded in your trade.

Coldwell Banker Upton-Massamont REALTORS is proud to announce the following GOLD Award recipients for Outstanding Sales & Service, in this category the agent sold over $6+million or 37+ units.  The RAPV (REALTOR Assoc. of Pioneer Valley) awards the Silver Award to agents that have sold $3-6 million or 24-36 units.

Congratulations to our Award Winners!

Gold Award Recipients

Don Mailloux

Wanda Mooney

Phil Pless

Silver Award Recipients

 




Mike Packard

 

Christine Aubrey

More Properties Sold in Belchertown, MA Buckland, MA Conway, MA , and Deerfield, MA

Belchertown, MA:
This Single-Family in Belchertown, MA recently sold for $218,500.

This is a Colonial style home and features 8 total rooms, 1 full bath, 3 bedrooms, 1.07 acres, and was sold by Office - South Deerfield - Coldwell Banker Upton Massamont REALTORS

Here are some other properties available in Belchertown,MA you may like:

Belchertown $339,000Belchertown $175,000Belchertown $167,900Belchertown $285,000



Buckland, MA:
This Multi-Family in Buckland, MA recently sold for $42,500.

This is a

This property features 9 total rooms, 1 full bath, 3 bedrooms, 0.42 acres, and was sold by Office - South Deerfield - Coldwell Banker Upton Massamont REALTORS

Here are some other properties available in Buckland,MA you may like:

Conway, MA:

This Single-Family in Conway, MA recently sold for $207,000.

This is a Ranch style home and features 7 total rooms, 1 full bath, 3 bedrooms, 23.20 acres, and was sold by Office - South Deerfield - Coldwell Banker Upton Massamont REALTORS

Here are some other properties available in Conway,MA you may like:

Conway $194,000Conway $250,000Conway $278,000Conway $149,000



Deerfield, MA:
This Condo in Deerfield, MA recently sold for $215,000.

This is a Townhouse style home and features 6 total rooms, 1 full bath, 1 half bath, 2 bedrooms, and was sold by Office - South Deerfield - Coldwell Banker Upton Massamont REALTORS

Here are some other properties available in Deerfield,MA you may like:



Ashfield, MA-WinklePicker Fest Weekend!

The festival that brings authentic Mardi Gras to Ashfield, MA will be held this weekend (2/15-2/17).  When you are tired of the winter and spring is a ways off, you need an opportunity to come out of hiding and have some fun.

The WinklePicker Fest offers just that opportunity.  Here is the link to the schedule of events for the weekend and how to obtain tickets.

Great entertainment with Steve Riley & the Mamou Playboys, Eilen Jewell and Charles Neville.  Enjoy the Kids Mardi Gras Ball and the opportunity to take a New Orleans Cooking Clas with Chef Carlos Neville.

Be sure to check out the celebration this weekend!

Mooney and Roberts-Newest Team in Real Estate

We are so please to see the formation of team Mooney and Roberts here at Coldwell Banker Upton-Massamont REALTORS, Shelburne Falls Office.  The team of Mooney and Roberts will provide their customers with excellant service.  For more information click HERE to check out their website or give them a call today at (413) 625-6366 x101 or x103

What You Need to Know: Condominiums

Is a condominium right for you? The market has been steadily rising for the past few years but condo living may not be for everyone.

Condo buyers typically fall into three categories:

-First-time buyers -Second home or vacation home owners -Retirees looking for a low-maintenance alternative

Under the right set of circumstances a condominium can be a great purchase. Before you run out and shop for condos you have to be comfortable living with rules and restrictions, and in close proximity to others.

There are different types of condominiums. They can take the form of apartment-style complexes, townhouses or converted multi-family dwellings. Most condominiums have common areas, such as stairwells, dividing and outer walls, fitness centers, pools, walking paths and gardens. These common areas are under shared ownership. Each unit owner holds an interest in these spaces.

Because space is shared there needs to a way to manage the maintenance, repair and costs of these common areas. To deal with that and other issues that involve space sharing every condo development has a condominium association. The association is typically elected by condo owners and makes communal decisions in the interest of the community.

When you find a condominium you are interested in you will want to inquire about the association: Some questions you may want to ask are:

  • Does the association maintain reserve of funds to pay for unexpected and potentially expensive repairs? If so, how much is in reserve and how is it managed?
  • Has the association maintained the building in good repair? Are there currently or any planned special assessments?
  • Does the association have plans to add any facilities, such as a swimming pool or gym, in the near future?
  • Does the development have any pending legal actions? Are there any disputes between owners, with developers or with the association that you should know about?

Buying a condo also comes with costs some are similar to a single family home purchase while others are condo specific. These costs include:

  • Down payment, mortgage and property tax
  • Condo fees, otherwise known as maintenance fees. Condo fees are paid by every resident to help with the maintenance of the building, pay the salaries of groundskeepers, concierges or handymen, and provide luxury facilities such as a pool, gym or rooftop garden. Condo fees are paid monthly and are subject to change. The condominium association budgets and determines the condo fees for all units. Condo fees are typically determined by the size of your unit, how many units are currently occupied, and the projected expenses for building maintenance and repair.
  • Special assessment fees. These fees may be requested when an unexpected repair or planned modification exceeds the cost of the condo fees collected

One of the most important considerations is to determine if you can live with the condominium rules or covenants. The rules vary from one condo development to another. Some condominiums may impose restrictions on pet ownership, noise levels, remodeling projects, and renting. Always read the condo rules and regulations to make sure that you are comfortable with them before you make a commitment to purchase.

Our Coldwell Banker Upton-Massamont REALTORS cover the entire Pioneer Valley and would love to introduce you to our local condominium properties.  Check out the website at www.cbumr.com or call one of our 4 conventient offices.

Amherst:  (413) 461-3650

South Deerfield:  (413) 665-3771

Northampton:  (413) 586-8355

Shelburne Falls:  (413) 625-6366

More Properties Sold in Deerfield, MA , and Orange, MA

Deerfield, MA:
This Single-Family in Deerfield, MA recently sold for $385,000.

This is a Ranch style home and features 9 total rooms, 3 full baths, 1 half bath, 4 bedrooms, 0.51 acres, and was sold by Office - South Deerfield - Coldwell Banker Upton Massamont REALTORS

Here are some other properties available in Deerfield,MA you may like:

Deerfield $350,000Deerfield $339,900Deerfield $328,000Deerfield $369,000



Orange, MA:
This Single-Family in Orange, MA recently sold for $75,000.

This is a Ranch style home and features 5 total rooms, 1 full bath, 3 bedrooms, 0.28 acres, and was sold by Office - South Deerfield - Coldwell Banker Upton Massamont REALTORS

Here are some other properties available in Orange,MA you may like:

Orange $124,500Orange $138,400Orange $59,000Orange $118,000