Virtual Homes Real Estate View

Real Estate in a Virtual World.: Amherst New Hampshire Real Estate Market Report for 2010

2011-03-12T17:41:00.001-08:00

Amherst, NH Homes and Condos Sold in 2010

The Amherst NH real estate market is effected by a number of factors. Visit the Amherst NH real estate site to obtain information about the community, demographics, MLS statistics and school information.

Amherst Single Family Home Sales

The Amherst, NH real estate market report indicates that there were 107 homes sold in 2010 as compared to 120 in 2009. This represents a 11% decrease in the number of homes sold. The average sales price changed from $364662 in 2009 to $327111 in 2010, a 10% decrease in value. The days on market changed -23 % from 151 to 117.on market changed -23 % from 151 to 117.

Amherst Condominium Sales

The Amherst, NH condominium market data indicates that there were 27 condos sold in 2010 as compared to 28 in 2009. This represents a 4% decrease in the number of condos sold. The average sales price changed from $249888 in 2009 to $283376 in 2010, a 13% increase in value. The days on market changed 31 % from 172 to 225.

Visit Amherst NH homes for sale to search for current inventory of homes, condos, multi-family, land, foreclosures and short sales.

Data for the Amherst, NH 2010 real estate report was compiled by Virtual Homes Real Estate using information from the NH statewide MLS and is not guaranteed to be accurate.

Posted via email from New Hampshire Real Estate

Buying a Wakefield Foreclosure and Financing Repairs

2011-02-13T18:18:00.001-08:00

How to Buy a Wakefield MA Foreclosure and Finance the Repairs

Bank foreclosures that need substantial repairs are often the best values in the marketplace. Properties that are in bad condition can be difficult to finance for the average home buyer. Wakefield multi-family foreclosures typically have the greatest opportunity as the competition for these properties has fewer buyers. If you have the vision, patience and willingness to work through a rehab project, then you should consider the FHA 203 (k) program as your financing option.

The 203 (k) insurance on a FHA loan enables home buyers and homeowners to finance both the purchase (or refinancing) of a property and the expense of its rehabilitation by using a one mortgage or to finance the rehabilitation of their present home. If the property repairs exceed $35,000 then an FHA approved lender can help you in getting qualified and receiving the loan.

The FHA 203 (k) Program

When a home buyer hopes to buy a Wakefield home in need of repair or updating, the home buyer normally has to obtain financing first to purchase the home; additional funding to perform the rehabilitation construction; and a permanent mortgage once the work is completed to pay off the interim loans with a permanent mortgage (end loan). Usually the interim financing (the purchase and construction loans) necessitates fairly high rates of interest and short amortization time periods.

The Section 203(k) program was created to address this situation. The borrower can usually get one mortgage loan, with a long-term fixed (or adjustable) rate, to finance both the purchase along with the rehabilitation of the property. To grant funding for the rehabilitation, the mortgage amount will depend on the estimated value of the property with all the work completed, taking into consideration the money necessary for the work. In order to reduce the risk to the mortgage lender, the mortgage loan (the maximum allowable amount) is eligible for endorsement by HUD once the mortgage loan proceeds are disbursed and a rehabilitation escrow account is established. At this stage the mortgage lender has a fully-insured mortgage loan.

If you are considering purchasing a Wakefield foreclosure or a property in need repair, consult with your real estate agent, a HUD approved lender and visit the HUD website where you can review the options and eligibility requirements of the 203 (k) program. Contact the Wakefield MA building department for information regarding the codes and permitting process or consider utilizing the services of a general contractor who is experienced in rehabilitation projects.

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Wakefield MA Short Sales | Town Site Demo

2011-02-13T06:50:00.001-08:00

If you are buying a Wakefield home and want the best “deal” in the purchase of real estate a “short sale” may be your best option. Buying a Wakefield MA short sale is a difficult and often a frustrating process. To have success, hire experienced professionals that understand all aspects of the transaction. Expert advice can be provided by real estate agents, attorneys, mortgage brokers, bankers and home inspectors.

What is a Short Sale?

Homeowners that have financial hardships may qualify for a short sale as a solution to foreclosure. Their goal is to negotiate future financial liabilities and preserve their credit. Massachusetts law often presents the lender with incentives to negotiate with the homeowner. The foreclosure process takes time and money and may prove to be more costly to the lender. Under the Home Affordable Alternatives Program (HAFA) offered in 2010 by the Treasury Department, lenders and homeowners have additional incentives to consider a short sale.

The first step to a successful Wakefield MA short sale transaction requires the negotiation of an acceptable contract with the Seller subject to lender approval with no guarantees that your offer will be approved. If the contract is not approved by the lender then the Seller may not have sufficient time to sell to another party and avoid foreclosure. The following tips will increase your chances of negotiating a successful Wakefield short sale transaction:

Are You a Qualified Buyer?

Providing creditable evidence that you can purchase the property is absolutely necessary. The Seller is not likely to accept your offer without a valid credit approval as the lender will reject the contract. Obtain a credit approval from a reputable lender or if a cash buyer provide proof of funds. The contract must have only the standard and typical conditions of sale to obtain lender approval. Lenders evaluating contracts must have full documentation so that they may make informed decisions.

Finding Wakefield Listings That Qualify

Homeowners in financial distress typically have a limited amount of time to find a qualified buyer. If they have not communicated with their lender(s) and started the process, it may not be possible to close before foreclosure. Your real estate agent can identify properties that you may consider. Information they will obtain includes:

Is the Seller’s short sale package prepared for submission to the lender?

How many liens are on the property? If more than one, what are they? Is there a plan to satisfy all the lien-holders?

Don’t take yourself out of the market for a property that has no chance of closing. Fully evaluate all Wakefield MA property listings, including foreclosures, before negotiating a short sale.

Offer and Acceptance by the Seller

The first step is to have your offer accepted by the Seller and you will be competing against other buyers. Some real estate agents market the property substantially below market value to entice buyers. Others price the property at the low end of fair market value. Price, terms and your qualifications will be the deciding factors for Seller acceptance. Sellers and lenders prefer offers with fewer contingencies to streamline the lender approval process.

Earnest Money – Sellers will not be likely to accept your offer with a low deposit. A buyer that has little to lose can easily pursue another property and “walk away”. If you are serious about buying the property offer the Seller a strong deposit.

Home Inspection – It is customary to conduct the home inspection prior to submitting to the lender. A seller may not want to take the risk of allowing the inspection after lender approval. The buyer can easily “walk” from the home inspection and lenders normally will not approve them. As a buyer, this will require you to invest time and money in order to evaluate the condition of the property. This is also the typical situation in a “traditional” purchase.

Flexible Closing Date – Lenders often approve short sales with quick closings. You must be prepared to meet their conditions if you want to consummate the sale.

Subsequent Offers – The listing agent must submit all offers to the Seller. A contract with better terms and conditions may have a better chance of being approved by the lender. The lender will give the homeowner direction as to submitting additional offers. Also, be prepared to lock your interest rate thru closing so that your mortgage commitment will be valid.

Lender Approval

Lenders will do their “due diligence” to substantiate the value of the property and have no set formula to determine an acceptable price. However, Freddie Mac (one of the largest secondary market lenders) has a value range of 88% of one or more broker price opinions (BOP). Have realistic expectations of the time-frame for approval as it may take between 30-180 days and market conditions can change. If the Seller has agreed to participate in the HAFA program option with a participating lender, then you will receive a more timely response through a streamlined process. One step in this process is for the lender to approve the listing price before the marketing process.

Virtual Homes real estate agents can assist you with Wakefield MA short sales, foreclosures and MLS listings currently on the market.

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How to guide for buying Waltham MA short sales and pre-foreclosure values.

Protect Your Home Purchase with a Home Inspection

2011-02-02T14:24:00.001-08:00

Protect Your Home Purchase with a Home Inspection
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By fdoleac

What is a Home Inspection"

When you are in the process of purchasing a home, take advantage of contracting for a home inspection to protect your potential investment. It is important to understand what the inspection process is and your options in mitigating any issues that arise.

A home inspection is often confused with an appraisal as both processes are related to the "inspection" of the property in a home . A home inspector determines the condition of a structure, whereas an appraiser determines the value of a property. The process is a visual inspection of a home (or condo) made by a qualified (certified) home inspector who is trained and has experience in evaluating all of the component features in a home, and who is able to give a clear and accurate picture of the condition of these components. A home inspection just isn't a code inspection, which verifies local building code compliance. A home inspector thinks "Safety" not "Code" when performing a home inspection.

The inspection is created to identify issues that may exist, advise of repairs needed and, in some cases, provide preventive maintenance advice. It consists of inspection of the physical structure and mechanical condition of a home, from roof to foundation. Throughout the inspection, the inspector may identify problems that need further inspection by other qualified contractors. In some cases, the heating or structural elements of a property may require an "expert" to full evaluate the scenario.

What if Defects are Found

If the inspector finds problems in a building, it does not necessarily mean you shouldn't purchase it, only that you will know in advance what kind of repairs to anticipate. A seller may be willing to make repairs of material defects discovered by the inspector. Properties are not ideal, which includes new construction, and usually have "maintenance" problems which are considered to be normal for the age of the property.

Is the Inspector Qualified?

In many states, home inspectors must be licensed to perform an inspection for a buyer purchasing real estate. If a license is not required, look for an Inspector that is qualified, has years of experience, and has membership with the major associations in the inspection business, and has taken continuing educational courses that make his services a lot more valuable. Ask of the inspector if they are a member of a professional home inspection organization or certified by The American Society of Home Inspectors http://www.ashi.org. Does the inspector carry Professional Liability Insurance (Errors and Omissions Insurance)? Be sure you ask for a copy of their liability insurance policy. In case you ever need to collect on a legal judgment, the inspector's insurance policy will be able to pay on your claim.

As crucial as the physical home inspection is, it is half of the process. The other half is the inspection report and it is each and every bit as critical. The report will indicate the material defects and repairs that concerns the inspector. Once you have received all of the inspection reports, you may think about negotiating repairs or monetary compensation from the Seller. It really is appropriate to share the inspection report with the Seller if you are asking for mitigation of the issues. Seller's may seek their own opinion of the identified defects so that they can fully evaluate their alternatives.

Once the home inspection process has been completed it is possible to complete your home purchase with confidence about the condition of the property and all its equipment and systems. From the inspection, you will have learned many issues about your new home, and will want to keep that information for future reference. If you're a first time home buyer, the home inspection will provide a valuable education about the maintenance of a property.

Real Estate in a Virtual World

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GmaGoldie 21 hours ago

Holmes on Homes stated it correctly - the only protection you have as a home owner is a good home inspector. This is true around the world - he is in Canada but the same holds true here in the US. Inspectors have saved me time and time again when I have purchased a home.

A home inspection is always an education. I have always tried to journey with the inspector to both the basement and the attic - I want to learn.

fdoleac 1 minute ago

GMA Goldie - Using qualified professionals is certainly worth the investment. You can't buy a better education.

Real Estate in a Virtual World.: New Lender-Agent Collaborative Marketing System Generates New Purchase Loans

2011-01-16T14:20:00.001-08:00

Building Consumer Relationships Together

The Lender-Agent Collaborative is an integrated marketing system that provides lenders with a process to develop relationships with real estate agents and customers. The system assists in cultivating a network of agents that promote you and refer new purchase business. In addition, potential home buyers will register and contact you for guidance in the mortgage loan process.

Bottom Line . . . Real estate agents need transactions . . . and so do you!

View a video preview of the Lender-Agent Collaborative.

Partnering with Real Estate Agents

Obtain Buyer Referrals According to mortgage industry data, over 80% of home loans written are new purchase mortgages. Real estate agents typically refer their buyer clients to two or three loan officers in the home buying process. Imagine a network of buyer’s agents referring buyer clients to you every month regardless of market conditions. How can you attract agents to refer the business to you? Provide the agent with the resources that attract home buyers at no cost to them!

Integrated Market System Utilizing Cutting Edge Technology Tools

The Lender-Agent Collaborative marketing system utilizes cutting edge technology tools designed to attract home buyers and make it easy for them to search and buy property. The core is a website with blog functionality that can compete online with Zillow, Trulia, and Homes.com for local market dominance. The system features include:

SEO enhanced WordPress website – easy to edit Blogging platform – post articles that attract consumer interaction Lead generation through property listings – includes FSBO listings

Lead Generation System - Google based property search

Social Media marketing strategy – Facebook, Twitter, YouTube

Business development training – dominate your local market

Exclusive market areas

Weekly webinar for coaching and marketing support

The system encourages weekly marketing meetings between lenders and agents to develop local market presence, generate and convert home buyer leads.

Our company provides weekly marketing webinars to assist you in business development. We provide the training to develop your blog sites to obtain high search engine positioning, generate customer interaction and connect with motivated home buyers and sellers.

View a video preview of the Lender-Agent Collaborative.

The Lender-Agent Collaborative is a marketing system offered by Praxius Technology, a division of Virtual Homes.

Waltham Massachusetts Real Estate Market Report for Q3 2010

2011-01-11T18:27:00.001-08:00

Waltham Massachusetts Real Estate Market Report for Q3 2010
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By fdoleac

Waltham Homes and Condos Sold Activity

The Waltham MA Q3 real estate activity indicates a dramatic change in the trend as compared to the Q2 reports. The second quarter 2010 activity reported increases in single family homes, condominiums and average sales prices over 2009 statistics. In Q3, home values declined sharply and condominium sales came to a near standstill.

The third quarter reports are sales that took place in the summer months which is a slower cycle for transactions. The alarming statistics are the transaction counts with prices heading lower. The market did not respond to low interest rates and affordable values which indicates the housing recession may go deeper.

Waltham MA real estate market report Q2 2010 report is a good reference for comparing changes in market conditions.

Homes Sold

Single Family Home Sales

The Waltham, MA real estate market ndicates that there were 75 homes sold in 2010 as compared to 72 in 2009. This represents a 4% increase in the number of homes sold as compared to 2009. The average sales price changed from $427,226 in 2009 to $391,773 in 2010, a 8% decrease in value. The days on market changed 7 % from 72 to 77.

The Q2 report showed and average sales price of $430,794 which increased from $408,495. Transactions in Q2 were up over 50% to 2009 stats increasing from 61 to 94.

Waltham MA Average Sales Prices

Condo Units Sold

Condominium Sales

The Waltham, MA condominium market data indicates that there were 50 condos sold in 2010 as compared to 114 in 2009. This represents a 56% decrease in the number of condos sold. The average sales price changed from $324161 in 2009 to $320468 in 2010, a 1% decrease in value. The days on market changed 26 % from 73 to 92.

The condominium market continues to struggle as financing difficulties and the flood of foreclosures impact the market. In the second quarter sales increased as did values which was primarily due to the tax credit incentives. Third quarter stats are more reflective of true market conditions which fewer transactions with declining prices.

Data for the Waltham, MA real estate report was compiled by Virtual Homes Real Estate using information from the MA statewide MLS and is not guaranteed to be accurate.

Waltham Condo Values

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Praxius Technology

2011-01-08T21:15:00.001-08:00

A technology provider since 2000 and an early Internet marketing adopter, Praxius Technology is a … [Read More...]

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Praxius Technology, an early adopter of online marketing, provides lead generation, lead management training and support to the real estate and lending industries. Unique services with full technology integration.

Methuen MA Homes and Condos Sold Q2 2010 : Virtual View - The New Real Estate Economy

2010-12-19T13:15:00.001-08:00

Methuen MA Real Estate Market Reports Q2 2010

Methuen Single Family Home Sales

The Methuen, MA homes and condos sold report indicates that there were 101 homes sold in Q2 2010 as compared to 89 in 2009. This represents a 13% increase in the number of homes sold. The average sales price changed from $258,381 in 2009 to $284,256 in 2010, a 10% increase in value. The days on market changed -30 % from 128 to 90.

Visit Methuen MA real estate for information about the community, relocation, demographics, MLS search, home buying and selling guides.

Go to Methuen MA homes for sale to view current listings of homes, condos, multi-family and land listings.

Methuen Condominium Sales

Methuen, MA condominium market data indicates that there were 27 condos sold in the second quarter of 2010 as compared to 22 in 2009. This represents a 23% increase in the number of condos sold. The average sales price changed from $188843 in 2009 to $215131 in 2010 a 14% increase in value. The days on market changed -4 % from 200 to 192.

The Methuen MA homes and condos sold report was compiled by Virtual Homes Real Estate. The data was extracted from the MA MLS (MLSPin) and is not guaranteed to be accurate.

Newton Massachusetts Homes Sold in Q2 2010 : Virtual View - The New Real Estate Economy

2010-12-18T18:45:00.001-08:00

Newton Massachusetts Homes Sold Report for 2010 Quarter 2

Single Family Home Sales

The Newton, MA 2nd quarter real estate market report indicates that there were 183 homes sold in Q2 2010 as compared to 143 in 2009. This represents a 28% increase in the number of homes sold. The average sales price changed from $803506 in 2009 to $863573 in 2010, a 7% increase in value. The days on market changed -12 % from 76 to 67.

Visit Newton MA real estate for information about the community, relocation, demographics, MLS search, home buying and selling guides.

Go to Newton MA homes for sale to view current listings of homes, condos, multi-family and land listings. Visit Newton MA Q2 2010 real estate report for additional data and graphs about condominium sales.

Newton MA Averages Selling Prices for Homes

The Newton Massachusetts homes sold report for Q2 2010 was compiled by Virtual Homes real estate from the MA MLS (MLSPin) and is not guaranteed to be accurate.

Massachusetts Virtual View: Brookline Massachuestts Homes and Condos Sold during Q2 2010

2010-12-18T17:54:00.001-08:00

Brookline Massachusetts Real Estate Market Reports for Homes Sold in Q2 2010

Brookline Single Family Home Sales

The Brookline, MA 2nd quarter real estate market report for homes sold indicates that there were 52 single family transactions in the second quarter of 2010 as compared to 27 in 2009. This is a 93% increase in the number of homes sold. The average sales price declined from $1,476,583 in 2009 to $1,261,898 in 2010, a 15% decrease in value. The days on market changed -44 % from 128 to 72.

This data indicates a higher transaction count due to lower sales prices. Go to Brookline MA Q2 2010 market report for additional information including condos sold.

Visit Brookline MA real estate for information about the community, relocation, demographics, MLS search, home buying and selling guides.

Brookline Ma Average Selling Prices

Go to Brookline MA homes for sale to view current listings of homes, condos, multi-family and land listings.

The Brookline MA homes sold Q2 2010 report was compiled by Virtual Homes Real Estate. The data was extracted from the MA MLS (MLSPin) and is not guaranteed to be accurate.

Brookline MA real estate homes sold report for Q2 2010 provides a four year trend analysis.

Brookline MA Homes and Condos Sold Quarter 2 2010 : Virtual View - The New Real Estate Economy

2010-12-18T12:36:00.001-08:00

Brookline Massachusetts Real Estate Market Reports 2010 Quarter 2

Brookline Single Family Home Sales

The Brookline, MA Q2 real estate market report indicates that there were 52 homes sold in Q2 2010 as compared to 27 in 2009. This represents a 93% increase in the number of homes sold. The average sales price changed from $1,476,583 in 2009 to $1,261,898 in 2010, a 15% decrease in value. The days on market changed -44 % from 128 to 72.

Visit Brookline MA real estate for information about the community, relocation, demographics, MLS search, home buying and selling guides.

Go to Brookline MA homes for sale to view current listings of homes, condos, multi-family and land listings.

Brookline Condominium Sales

The Brookline, MA condominium market data indicates that there were 200 condos sold in the second quarter of 2010 as compared to 156 in 2009. This represents a 28% increase in the number of condos sold. The average sales price changed from $502562 in 2009 to $535351 in 2010 a 7% increase in value. The days on market changed 11 % from 64 to 71.

Visit the Brookline MA real estate 2009 market report for a comparison in market fluctuations.

The Brookline MA Q2 real estate report was compiled by Virtual Homes Real Estate. The data was extracted from the MA MLS (MLSPin) and is not guaranteed to be accurate.

Real Estate in a Virtual World.: Real Estate Agents Receive Tax Benefits and Loan Assistance from the Small Business Act of 2010

2010-11-30T13:33:00.001-08:00

Recent Legislation Benefits Self-Employed

The Small Business Jobs Actwas signed by President Obama on September 27, 2010. The legislation provided for tax breaks which included a new health insurance deduction for the 2010 tax year specifically for the self-employed. In addition, loan provisions for the SBA (Small Business Administration) were extended until December 31, 2010. Both of these benefits offer real estate agents the opportunity to realize substantial savings and provide financial assistance to an industry hit hard by the recession.

Self Employed Health Insurance Deduction - Up to $3500 in Savings

Self-employed individuals pay 15.3% of their net earnings which is known as the self-employment tax. The self-employment tax rate is the sum of 12.4% for Social Security (old age, survivors, and disability insurance) and 2.9% for Medicare (hospital insurance). The Social Security tax applies to the first $106,800 of net earnings in 2010; there is no ceiling on the Medicare tax.

If an average family (self-employed income) paid $14,000 for health insurance coverage then the 15.3% self-employment tax on earnings used to pay that premium would be $2142. Families with higher earnings and monthly insurance premiums could save as much as $3500. The new legislation (Section 2042) allows the self-employed to deduct this premium on their self-employment tax as well as their income tax. The rationale is that this tax savings can be re-invested in their businesses. For more information regarding this tax benefit go to Health Insurance Tax Break.

Real Estate Brokers and Agents Qualify for SBA Loan Assistance

The Small Business Jobs Act extended loan provisions for reduced closing costs and a 90% loan guarantee. This provides incentives for both the lender and borrower to take advantage of the programs before year's end.

Real estate agents and Brokers qualify as small businesses and can benefit by refinancing credit card debt and/or obtaining loans through the 7 (a) loan program. The interest rates for these programs are substantially lower than credit card interest and is tax deductible. Go to Loan Assistance for more information.

About the Author

Founder and CEO of Virtual Homes Real Estate, a New England based independent residential brokerage firm. The Virtual Homes Real Estate portal provides consumers with an interactive real estate resource offering information and tools making the home buying and selling process easy. Search MLS listings by location with our map based tools. Experience the Future of Real Estate Today!

Massachusetts Virtual View: Waltham MA Homes Sold Report - Q2 2010

2010-11-22T18:32:00.001-08:00

Waltham MA Homes Sold Report for the Second Quarter - 2010

The Waltham, MA 2nd quarter real estate market report indicates that there were 94 homes sold in Q2 2010 as compared to 61 in 2009. This represents a 54% increase in the number of homes sold. The average sales price changed from $408495 in 2009 to $430794 in 2010, a 5% increase in value. The days on market changed -26 % from 77 to 57.

Compare this report to the Waltham MA real estate Q1 report where average sales prices and activity also increased over 2009. The average sales prices were much higher in the second quarter which is primarily due to the higher priced inventory being sold during the spring market.

Visit Waltham MA real estate for a virtual tour, relocation, school, home buying and selling information which will assist you in evaluating property values.

The Waltham MA homes sold market report was compiled by Virtual Homes real estate from data collected from the MA MLS (MLSPin). The information is not guaranteed to be accurate.

Waltham MA homes sold report with a 4 year trend analysis for activity in the second quarter.

Real Estate in a Virtual World.: Burlington Vermont Real Estate Market Report - 10/2010 YTD

2010-11-21T15:17:00.001-08:00

Burlington Vermont Real Estate Report - Homes Sold as of 10/30/2010

The Burlington Vermont real estate year to date activity reports an increase in average sales price with a decrease in the number of homes sold. Visit Burlington Vermont real estate for a complete report including condominium activity in 2010. The Burlington VT real estate and homes for sale site provides community information that includes MLS search, relocation, school and home buying information.

Burlington VT Single Family Homes

There were 125 homes sold in 2010 as compared to 138 with only 103 sold in 2008. The average sales price in 2010 has increased 3% from $269,527 in 2009 to $284,813 in 2010. In 2008, the average sales price was at $324,075 which was the peak for the last four years as values were at $310,911 in 2007.

The average selling time increased from 56 days in 2009 to 77 in 2010.

The Burlington Vermont real estate homes sold report was compiled with data obtained from the NNEREN MLS system and is not guaranteed to be accurate. Contact Virtual Homes Real estate if you require further information on properties listed in Vermont or New Hampshire.

Burlington Vermont real estate market update as of October 2010 with a 3 year trend analysis of homes and condos sold with average selling prices.

Real Estate in a Virtual World.: Bedford New Hampshire Foreclosures for Sale

2010-11-21T15:13:00.001-08:00

Bedford New Hampshire Foreclosures for Sale - Bank Owned Real Estate

Bedford NH foreclosures, bank owned and REO (Real Estate Owned) are terms commonly used to describe properties that are owned by a lender (investor, financial institution; typically a bank), after an unsuccessful sale at a foreclosure auction or property obtained by a "deed in lieu." The lender will then resell the property by direct sale or market their inventory through a Realtor. The lender will price the property for a quick sale as they have no interest in maintaining a foreclosed asset.

The foreclosure process begins when the homeowner defaults on their mortgage. The first step for the lien holder(s) is to obtain the right to sell at auction. In NH, this process takes a minimum of 75-90 days and if the homeowner contests the process in court or files bankruptcy the delay can be significant. To obtain current bank owned and short sale listings go to Bedford NH foreclosures. You will receive updates of new foreclosures as they come on the market.

Bedford NH Short Sales

There are cases where a home owner will attempt to sell their home before the lender begins foreclosure proceedings. The home owner is either already behind on their mortgage payments or will not be able to sell for a price that the net proceeds and additional resources would cover the balance owed on their mortgage. This is commonly referred to as a short-sale and requires the lender's approval. Obtaining approval can be a long and frustrating process. Additionally, there are no guarantees that the lender will accept an offer at or above the listed price or any viable contract presented.

New Hampshire Foreclosure Law

In New Hampshire, foreclosure is done by various methods which include Judicial or Non-judicial methods and by special methods such as Entry under process, Entry and publication, or possession and publication. The typical process, depending on the method, is approximately 60-70 days long. Publication of the sale requires 24 days in New Hampshire. In a NH foreclosure there is no right of redemption and deficiency judgments are permitted.

In New Hampshire judicial foreclosure is similar to strict foreclosure in other New England states. A lender needs to file a complaint against a borrower and obtain a court ruling from the county court. If the court finds a borrower in default, it provides the borrower time to pay back the debt. If borrower does not pay within the allowable time frame, the court orders sale of the property.

A non-judicial foreclosure is conducted only when a power of sale clause exists in the deed of trust/mortgage. This clause pre-authorizes the sale of a property to pay off the balance of the loan in the incidence of a buyer's default. In such cases, power is given to the lender or its representative (generally referred to as a trustee) to sell the property.

Buying Bedford NH Real Estate at Foreclosure Auction

For most consumers, purchasing at a foreclosure auction is a "risky" undertaking and, in most cases, buying from the lender after the auction is a better option. Experienced investors understand the process and may have success in taking the risk. As a result, not many Bedford NH foreclosure auctions end with a bidder being successful with an accepted offer. The title then reverts back to the financial institution holding the lien. These properties are referred to as REO (Real Estate Owned) or Bank Owned properties.

Bedford New Hampshire Foreclosed or Bank Owned Real Estate

After a bank (lender, financial institution) forecloses on the property (after an unsuccessful auction), they mitigate items owed by the prior borrower, such as homeowner association fees. The lender also attempts to remove any tax liens against the property. The current owners are usually evicted or provided financial incentives to vacate.The property is cleaned and minor repairs are made to the property. The lender hopes to obtain a higher net sales price with minor improvements.

Banks want to sell foreclosed property quickly because they don't want to tie up their money these assets. Additionally, managing a foreclosed property may see further reductions in value and is a "headache". Lenders that have significant REO inventory often have a separate department to manage their inventory.
Most lenders hire experienced Bedford real estate agents to market their properties and list their inventory in the Multiple Listing Service (MLS) to ensure full market exposure. Bank owned listings compete with other available listings and buyers have the opportunity to inspect and investigate property prior to the final purchase. Some lenders will negotiate repairs and concessions, but in most cases their preference is to sell "as is" at a "discounted price". Go to Bedford NH foreclosure listing service to receive a list of bank owned property.

State and Federal requirements regarding property disclosure must be followed by lenders. They usually disclose that they have no knowledge of the property and can make no representations as they have never occupied the property. Banks may or may not provide incentive financing on their REOs but in most cases, this would apply only to property that was in very bad condition. Property that has major structural defects or will require extensive repairs will be the buyer's best value.

Buyers with accepted contracts have the option to conduct full home inspections even though the property is being sold "as is". If major unknown material defects are found, the lender usually will negotiate to either a substantially lower price or make the repair. Generally, negotiating with a lender is an easier process than negotiating with a homeowner. Lenders are typically unemotional about the process and are interested in making a "good business" decision for the company. It is not in a buyer's best interest to attempt to renegotiate a contract over trivial items that were disclosed or obvious prior to negotiation of the contract.

A Bedford NH bank owned property isn't always the best value for a consumer. It's an old myth that "foreclosures" are a bargain. Visit Bedford NH homes for sale to view all available listings for sale.

Making an Offer on a Bedford Property

Before making an offer, have your agent obtain all available disclosures and information on the property and ask questions such as: Are there any documented inspections? Has the lender agreed to any repairs not completed? Is there a special "as is" form?How quickly will the lender respond?How is the offer negotiated? Since lenders do not typically work on weekends and due to the volume of REO inventory, the negotiating process may take longer and create frustration for the buyer.

Make sure that your offer contains your "credit" approval which demonstrates your qualifications as a buyer as the lender is more motivated to negotiate with a qualified buyer.
Understand that lenders will sell at "fair" market value and do not expect "fire-sales" that you have seen of heard of in the media. As mentioned earlier, properties that need substantial structural and mechanical repairs will be negotiated aggressively There are fewer buyers qualified to buy these properties so lenders will offer greater discounts.

Virtual Homes real estate agents will assist you in the purchase of Bedford NH foreclosures and bank owned real estate for sale. In addition, we can represent you as a Buyer's agent and represent your interests in the property search, research, negotiations, home inspection and closing of the transaction.

Bedford NH real estate resource for foreclosures, short sales and bank owned real estate for sale.

Posted via email from New Hampshire Real Estate

Real Estate CRM for the Virtual Office

2010-11-04T12:12:00.001-07:00

Real Estate CRM for the Virtual Office
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By fdoleac

Real Estate Customer Resource Management

Operating a successful real estate virtual office, whereby most of the agents work from their home offices, requires an integration of on-line tools training and support. A critical web based tool is the company CRM (Customer Resource Management) which is the automated hub of agent, staff and management tasks and activities. The tool should include a powerful contact manager, an interactive database and lead management system.

Source: Zoho CRM

Contact Management

Agents, staff and management require a contact management feature that maintains all import information and data of company representatives as well as customers and clients. Remote access to this information ensures proficiency in all aspects of communication, transaction flow and automated functions.

In addition to the basic information of name, address, telephone numbers and email the system should provide for multiple customizable fields. Entry options would include important dates, notes, web site and blog addresses.

The contact management system should provide for extensive prompting fields for manual and auto data entry when interacting with customers and clients. A major asset of the company is the permission database generated through inbound marketing. The value is the variety and volume of pertinent information obtained in the communication with consumers.

Inbound Marketing

The company inbound marketing process should include web sites, blogs and direct response marketing. Integrated marketing communications are designed to generate web form registrations that must auto populate the data base, organize and store the information. The contact manager is only one important element of the database. Once the information is obtained, it is important for automated functions to be built into the system to provide prompt and timely responses and follow-up. This process should include auto responders, lead notification and distribution.

Lead Notification and Distribution

The typical web form registration may require only an email address. However, it is beneficial to obtain a name and phone number. You must analyze your registration metrics in order to determine the optimal required fields for your value proposition. In all cases, the system must automate the process of distributing the leads. Agents and staff (including call centers) must be notified of a new lead via email, text while populating the data base. Response factors are critical in converting Internet based leads and most motivated consumers will work with the first responder.

Lead Management

The CRM system is more effective if lead management tools are integrated into the system. Features should include call prompting, scheduled activities, auto responders, drip email, automated campaigns and reports. Users are more efficient when prompted to perform follow-up tasks and will convert more business.

Management and Staff

Features for management and staff include a recruiting module for the target lists and agent databases. Automating the messaging of the value can be built into the drip and blast email campaigns. The CRM tool can be utilized with the intranet so that staff can manage agent contract renewals, birthdays, reports, notices and important dates

Virtual Homes Real Estate

Virtual Homes Real Estate & Homes for Sale
Real Estate resource providing consumers with an interactive portal of tools and information including MLS search, Map based search, and foreclosures to make the home buying and selling process easier.

Real Estate in a Virtual World

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Massachusetts Virtual View: Haverhill MA Foreclosures and Bank Owned Homes for Sale

2010-10-24T14:17:00.001-07:00

Haverhill MA Foreclosures

Haverhill Massachusetts bank owned foreclosures describe property the lender obtains after an unsuccessful foreclosure auction. The lender usually sells the real estate by direct sale or market their inventory through a Realtor. The lender will price the property for a quick sale as they have no interest in maintaining a foreclosed asset. When a Haverhill MA home owner defaults on their mortgage, the lender starts the process of obtaining the right to sell that property at auction in order to satisfy the debt. In MA, this process takes a minimum of 75-90 days and if the homeowner contests the process in court or files bankruptcy the delay can be significant. Go to Haverhill MA foreclosures to view current MLS listings of distressed real estate.

Haverhill Short Sales - Buying at Pre-Foreclosure

There are instances where a Haverhill MA home owner will attempt to sell their home before the lender begins foreclosure proceedings. The home owner is either already behind on their mortgage payments or will not be able to sell for a price that the net proceeds and additional resources would cover the balance owed on their mortgage. This is commonly referred to as a short-sale and requires the lender's approval. Obtaining approval can be a long and difficult process. Additionally, there is no assurance that the lender will accept any offer presented. If the Haverhill homeowner has entered the HAFA program (Home Affordable Foreclosure Alternative) offered by the government, the process is streamlined and offers the lender, homeowner and potential buyer additional incentives. Home buyers have a better chance of purchasing the property if a Seller is participating in this program. Lenders are in different stages of implementing this process and it is important to verify this information.

Massachusetts Foreclosure Law

In MA, non-judicial foreclosure is the most common method; judicial foreclosure is rarely used in MA. Lenders usually have a power of sale clause and must abide by strict notice requirements. If a homeowner files for bankruptcy, the court can overturn the foreclosure sale if sold for less than market value. Therefore, lenders in Massachusetts proceed carefully and follow the requirements set forth in the law. Review Massachusetts Foreclosure law for government legislation about MA foreclosures.

Buying Haverhill Massachusetts Homes at Foreclosure Auction

For most potential buyers, purchasing at a foreclosure auction is a "risky" undertaking and, in most cases, buying from the lender after the auction is a better option. Experienced investors understand the process and may have success in taking the risk. As a result, not many Haverhill MA foreclosure auctions end with the sale of the property to a bidder other than the lender. The lender takes back the title and takes possession of the property. These properties are referred to as REO (Real Estate Owned) or Bank Owned properties.

Haverhill Massachusetts Foreclosed or Bank Owned Real Estate

After a bank (lender, financial institution) takes possession of a property (after an unsuccessful auction), they mitigate items owed by the prior borrower, such as homeowner association fees. The lender also attempts to remove any tax liens against the property. If the property is occupied, the lender will make arrangements for the owner or tenant to vacate by eviction or with financial incentives.The property is cleaned and minor repairs are made to the property. The lender hopes to obtain a higher net sales price with minor improvements. Banks want to sell foreclosed property quickly because they don't want to tie up their money these assets. Additionally, managing a foreclosed property may see further reductions in value and is a "headache". Lenders that have significant REO inventory often have a separate department to manage their inventory. Most lenders hire experienced Haverhill real estate agents to market their properties and list their inventory in the Multiple Listing Service (MLS) to ensure full market exposure.

Buyers have the opportunity to view, investigate and inspect the property prior to final agreement to purchase. Some lenders will negotiate repairs and concessions, but in most cases their preference is to sell "as is" at a "discounted price". Banks understand that they must conform to federal and state laws in regards to property disclosure. They usually disclose that they have no knowledge of the property and can make no representations as they have never occupied the property. Banks may or may not provide owner financing on their REOs but in most cases, this would apply only to property that was in very bad condition. A buyer is likely to obtain a better value for properties that need substantial repairs. Buyers with accepted contracts have the option to conduct full home inspections even though the property is being sold "as is". If major problems are found, the lender usually will negotiate to either a substantially lower price or make the repair. Generally, negotiating with a lender is an easier process than negotiating with a homeowner. Lenders are typically unemotional about the process and are interested in making a "good business" decision for the company. It is not in a buyer's best interest to attempt to renegotiate a contract over trivial items that were disclosed or obvious prior to negotiation of the contract. Consider all properties for sale as a Haverhill foreclosure isn't always the best value for every buyer. Visit Haverhill MA real estate for information about the home buying process.

Negotiating a Contract for a Haverhill Property

Before submitting an offer, have your agent obtain all available disclosures and information on the property and ask questions such as: Are there any inspection reports? Has the lender agreed to any repairs not completed? Is there a special "as is" form? How quickly will the lender respond? How is the offer negotiated? Since lenders are not available on weekends and due to the volume of REO inventory, the negotiating process may take longer and create frustration for the buyer. Make sure that your offer contains your "credit" approval which demonstrates your qualifications as a buyer as the lender is more motivated to negotiate with a qualified buyer.

Understand that lenders will sell at "fair" market value and do not expect "fire-sales" that you have seen of heard of in the media. As mentioned earlier, properties that need substantial structural and mechanical repairs will sell for less. There are fewer buyers qualified to buy these properties so lenders will offer greater discounts.

Virtual Homes real estate agents will assist you in the purchase of Haverhill MA foreclosures and bank owned real estate for sale. In addition, we can represent you as a Buyer's agent and represent your interests in the property search, research, negotiations, home inspection and closing of the transaction.

Medford MA Condos for Sale

2010-10-22T19:08:00.001-07:00

Medford MA Condo for Sale

If you are involved in buying a Medford MA condo, it is important to understand the legal ramifications of this form of ownership. Rules and regulations regarding the sharing of common areas, amenities and the land parcel have been stipulated in the condo docs. A condominium has its advantages but in some cases a specific Medford condo development may have restrictions that do not fit your lifestyle. To evaluate condos and single family homes for sale, visit Medford MA real estate.

What is a Condominium

The word condominium describes a form of land ownership and are governed by laws set out in Chapter 183A of the General Laws of Massachusetts and known as the Massachusetts Condominium Act. This act covers the requirements for unit owners and condominium associations including matters related to interests in common areas and facilities, mandatory provisions for the association’s by-laws and expenses incurred by the association of unit owners.

Condominiums in Medford consist of 2 or more units, the interior of which are individually owned. Unit owners share joint ownership of common areas (grounds, hallways, etc.). The master deed is a document that places the land into condominium status and details the ownership structure. If you were to buy a Medford MA home, you would own the land and the building and could have joint ownership of additional land and improvements. This type of ownership is often referred to as PRD (Planned Unit Development) or PUD (Planned Unit Development).

Each unit owner will own a “percentage of interest in the common areas” as outlined and specified in the master deed.The boundaries of individual ownership and common ownership are also described in the master deed. The typical areas for common ownership other than the land parcel include elevators, hallways, staircases and amenities such as pools and tennis courts. Some areas that are held in common, such as a parking space, balcony or patio, can be designated for exclusive use by one or more unit owners. This typically will include balconies, patios, and assigned parking spaces.

Medford MA Condo Styles

Garden (flat) — Living area confined to one level.

Townhome — Finished living space on two or more levels.

Detached — Free-standing building (no other unit is located in that same building).

Duplex — Often referred to as a condex with two units that are attached. There may be several duplexes/condexes within a particular complex.

Triple Decker – A triplex unit typically a conversion from a 3 unit apartment building.

Loft – Large open areas with high ceilings that may have been converted commercial or industrial space.

Low Rise Building – A building with primarily garden-style units and no more than 4 levels in the entire building.

Mid Rise Condo – Usually a building between 5-10 stories with retail or commercial mixed uses.

High Rise – May contain garden and townhome units and greater than 4 levels total in the building. High rises are commonly serviced by an elevator.

Management and Associations

Trustee meetings are scheduled per the by-laws and are documented in meeting minutes. The unit owners meet on an annual basis, at a minimum, to ratify the budget, review expenditures, etc.

Monthly Condo Fees

The management and maintenance of the association is determined by the Trustees and ratified by the unit owners as specified in by-laws of the condominium. The monthly fees paid by each unit owner are calculated based on budget and the percentage of each owner’s interest in the common area.Special assessment may be necessary to cover expenses that are not in the budget or the reserve funds. Based on the amount of shortfall, this may be charged as a one-time fee or spread out over several months or years.

Rules and Regulations

The Rules and Regulations regarding the use of the condominium and facilities are usually determined and established by the Trustees and may be voted on and changed from time to time by the Unit Owners.

What a Medford Condo Buyer Should Know

Visit Medford MA homes for sale to view all condos for sale.

If you are thinking of buying a condominium unit, be sure to review:

Condominium Documents — Master Deed, Condominium Trust, etc.

Rules & Regulations – Pets may not be allowed. Can you rent the unit?

Financial Statements — Annual and Current Budget, Delinquency Rate

Capital Reserve Fund - Will FHA approve the fund?

FHA, VA Approval – Is a current approval in place?

Special Assessments – Pending and approved

Management Company – Is there one? Who is it?

Pending Legal Actions – Are there any?

Ownership Concentration – How many units are owner occupied?

Monthly Condo Fee – What does it cover?

Master Insurance Policy – Verify coverage

Annual Meeting Minutes and Trustee Minutes (When Available)

If you are going to buy a Medford MA condo you should have the documents reviewed by your attorney. Your Medford Buyer’s Agent should also be certain your offer provides for a cancellation should any part of the documents not be acceptable to you.

Importance of Working With a Medford REALTOR in Your Condo Purchase

Condominium structures and considerations vary by city, state and region. The above is just a general guideline on the most common type of condominiums. Your Medford REALTOR can provide additional details and educate you on everything that you need to know regarding your condo purchase, including information on co-ops and informal complexes such as converted multi-family buildings. Virtual Homes real estate has a network of experienced REALTORS ready to assist you in purchasing a Medford MA condo.

Medford MA Condo buying guide.

Waltham MA Condominiums for Sale

2010-10-22T19:03:00.001-07:00

Waltham MA Condominiums for Sale

If you are interested in purchasing a Waltham MA condominium, it is important to understand the legal ramifications of this form of ownership. Rules and regulations regarding the sharing of common areas, amenities and the land parcel have been stipulated in the condo docs. There are a benefits to condominium ownership however certain Waltham developments may have restrictions that will affect your lifestyle.

What is a Condominium

The word condominium describes a form of land ownership and are governed by laws set out in Chapter 183A of the General Laws of Massachusetts and known as the Massachusetts Condominium Act. This act covers the requirements for unit owners and condominium associations including matters related to interests in common areas and facilities, mandatory provisions for the association’s by-laws and expenses incurred by the association of unit owners.

Waltham condominium units typically consist of two or more units. Unit owners share joint ownership of common areas (grounds, hallways, etc.). The master deed is a document that places the land into condominium status and details the ownership structure. If you were to purchase a Waltham MA home, you would have ownership the land and the building and could have joint ownership of additional land and improvements. This type of ownership is often referred to as PRD (Planned Unit Development) or PUD (Planned Unit Development).

The Master Deed specifies the percentage of ownership in common areas that each condo owner will have.The limitsof individual ownership and common ownership are also described in the master deed. In addition to the land and building structure, common areas also include any hallways, stairways, pools, tennis courts, clubhouses, elevators, and any mechanical systems that service all of the units.Some areas that are held in common, such as a parking space, balcony or patio, can be designated for exclusive use by one or more unit owners. This typically will include balconies, patios, and assigned parking spaces.

Waltham MA Condo Styles

Garden (flat) — Contains one-level of finished living space.

Townhouse — Finished living space on two or more levels.

Detached — Free-standing building (no other unit is located in that same building).

Duplex — Two attached units, sometimes referred to as “condex”. There may be several duplexes/condexes within a particular complex.

Triple Decker – A triplex unit typically a conversion from a 3 unit apartment building.

Loft – Large open areas with high ceilings that may have been converted commercial or industrial space.

Low Rise Building – Commonly described as a garden style building that has 4 or fewer levels.

Mid Rise Condo – Usually a building between 5-10 stories with retail or commercial mixed uses.

High Rise – May contain garden and townhome units and greater than 4 levels total in the building. High rises are commonly serviced by an elevator.

Management and Associations

The Master deed contains a Trust Agreement or By-Laws whereby the criteria for management of development is specified. Monthly Condo Fees The management and maintenance of the association is determined by the Trustees and ratified by the unit owners as specified in by-laws of the condominium. Unit owner condo fees are based on the percentage of ownership of the common areas and the annual budget. If there is a shortfall, there may be a “Special Assessment” made to cover this additional expense. Based on the amount of shortfall, this may be charged as a one-time fee or spread out over several months or years.

Rules and Regulations

The Rules and Regulations regarding the use of the condominium and facilities are usually determined and established by the Trustees and may be voted on and changed from time to time by the Unit Owners.

What a Waltham Condo Buyer Should Know

Visit Waltham MA real estate - homes for sale to view all condos for sale.

If you are thinking of buying a condominium unit, be sure to review:

Condominium Documents — Master Deed, Condominium Trust, etc.

Rules & Regulations – Pets may not be allowed. Can you rent the unit?

Financial Statements — Annual and Current Budget, Delinquency Rate

Capital Reserve Fund - Will FHA approve the fund?

FHA, VA Approval – Is a current approval in place?

Special Assessments – Pending and approved

Management Company – Is there one? Who is it?

Pending Legal Actions – Are there any?

Ownership Concentration – How many units are owner occupied?

10. Monthly Condo Fee – What does it cover?

11. Master Insurance Policy – Verify coverage

12. Annual Meeting Minutes and Trustee Minutes (When Available).

If you are going to buy a Waltham MA condo you should have the documents reviewed by your attorney. Your Waltham Buyer’s Agent should also be certain your offer provides for a cancellation should any part of the documents not be acceptable to you. Evaluate all Waltham MA condominiums, homes and real estate at Waltham MA real estate.

Importance of Working With a Waltham REALTOR in Your Condo Purchase

Condominium structures and considerations vary by city, state and region. The above is just a general guideline on the most common type of condominiums. Your Waltham REALTOR can provide additional details and educate you on everything that you need to know regarding your condo purchase, including information on co-ops and informal complexes such as converted multi-family buildings. Virtual Homes real estate has a network of experienced REALTORS ready to assist you in purchasing a Waltham MA condo.

Waltham Massachusetts Condominium Buying Guide

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2010-10-19T12:40:00.001-07:00

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Framingham MA Bank Owned Homes and Foreclosed Real Estate for Sale

2010-10-16T19:51:00.001-07:00

Fred Doleac

Broker/Owner

Virtual Homes

55 Ponemah Road

Amherst, NH 03031

603-732-1800 or 800-856-2479

603-732-1817 Direct

Fax toll free - 888-884-0543

This e-mail message and any attachment(s) are confidential and may be legally privileged. If you are not the intended recipient, you are hereby notified that any copying, distribution, dissemination, or use of the information in this communication in any way is strictly prohibited. If you have received this communication in error, please reply to this message to notify the sender and delete the original message from your e-mail account. For intended recipients, please safeguard any personal information included in this transmission. State laws may require you to take specific measures to secure personal information and notify individuals affected by any security breach of your physical and/or electronic files. Thank You.

Cambridge Massachusetts Homes for Sale : Virtual View - The New Real Estate Economy

2010-10-08T19:05:00.001-07:00

Cambridge MA Homes for Sale - Your Guide to Home Ownership

Purchasing a home can be a very stressful and complicated process especially if you are a first time buyer. It is advisable to utilize the services of real estate related professionals who can offer client level services to assist you in purchasing Cambridge Massachusetts homes for sale. Buyers often interview lenders, Realtors, attorneys, home inspectors, accountants and financial advisors.

Financing a Cambridge Home Purchase

Most home buyers will finance the purchase of their home and there are various first-time home buyer financing programs offered by state agencies, local banks and national lenders. A common source for mortgage funding is the FHA (Federal Housing Administration). The major benefits of their programs include low down payment options (can be gifted by a family member), flexible qualifying, assumable mortgages, and rehab financing. Other government insured loan options include the VA (Veteran's Administration) and the USDA (United States Department of Agriculture - Rural Home Loans). In Massachusetts, a not-for-profit agency, MASSHousing provide special financing programs that provide mortgages for certain properties that other lenders may not consider.

Conventional financing, which typically requires a minimum of a 10% down payment, is readily available through a variety of mortgage lenders. Evaluate all your options and experienced loan officers will recommend programs that meet your specific needs. At the present time, interest rates for home mortgages are at historically low levels with fixed rates in the 4% range.

Your qualifications as a buyer is one of the most important elements in the negotiating process with a homeowner. If you are negotiating contingent upon mortgage approval, you must present evidence that your are qualified to meet that contingency from a reputable lender so that the Seller will accept your offer. The Seller does not want to take their home off the market unless there are reasonable assurances that the financing contingency can be met. If your home search takes a period of time, make sure your credit approval has been updated to reflect current mortgage underwriting standards for terms and rates. Sellers may accept a lower offer if your contract and financing demonstrate your strength as a buyer.

Primary Reasons to Consider Purchasing a Home

The major benefits of home ownership include solving your housing need and the tax benefits provided through the government. In many cases, especially for first time home buyers, you may own a property for less than it costs to rent it. Mortgage interest and property taxes are deductible expenses and your tax adviser can compute the actual costs of owning your property. Interest rates are at historic lows and there is a wide variety of property inventory at very affordable prices. Recent declines in property values offer exceptional values.

In many cases, home ownership provides you with a quality of life that you may not find in a rental. Various factors apply such as privacy, location, housing styles, space, amenities, fewer restrictions and rules to comply with. In addition, owning a home may be a good return on your investment provided that you are not forced to sell in a difficult market. A home of your own also provides you with stability in the community where school systems, recreational facilities and services are important to your lifestyle.

The Cambridge MA Home Search

Consumers in Massachusetts have the option of hiring a real estate agent to represent them in buyer agency and this is disclosed in a mandatory disclosure form required by state law. The agent has a fiduciary responsibility to represent the buyer's interests instead of the seller's. You should interview two or three agents to determine their qualifications before signing an agency contract.

Your real estate agent can assist you in searching for a property listed in the MA MLS and homes sold by their owners (FSBO). You will find that short sales, Cambridge foreclosures and bank owned property are listed in the MLS. Go to Cambridge MA homes for sale for a map based search of all Massachusetts MLS listings.

Home Inspection

Once you have found the Cambridge property and successfully negotiated a purchase and sales agreement, you should consider contracting for a home inspection. This process will give you more detailed information about the overall condition of the home prior to purchase. In a home inspection, a qualified inspector takes an in-depth, unbiased look at the property to evaluate the physical condition structure, construction, and mechanical systems; identify items that need to be repaired or replaced; and estimate the remaining useful life of the major systems, equipment, structure, and finishes.

Title and Closing

Your contract with the Seller stipulates that you will receive clear title to the property. Your attorney or Title Company will perform this service for a fee which is considered part of your closing costs. Schedule a final walk-thru inspection of the property prior to signing the closing papers. Once the closing is complete buyers can now occupy their new home.

Virtual Homes real estate agents will provide you with buyer agency services in finding the perfect Cambridge MA homes for sale.

Cambridge MA home buying resource

Massachusetts Virtual View: Somerville MA Short Sales

2010-10-03T19:07:00.001-07:00

Somerville MA Short Sales - Pre-foreclosure Values

As a home buyer looking for value in the purchase of real estate a short sale may be your best Somerville Massachusetts short sale is a difficult and often a frustrating process. To achieve your goal, hire experienced professionals that understand all aspects of the transaction. Expert advice can be provided by real estate agents, attorneys, mortgage brokers, bankers and home inspectors. Visit Somerville MA real estate for tools and resources to evaluate the community.

What is a Short Sale?

Homeowners in financial distress should consider various options, including a short sale, prior to foreclosure. This process may be the best option to preserve their credit and limit their debt exposure. In MA, the laws governing foreclosures provide incentives for lenders to workwith homeowners that have financial hardships. The foreclosure process takes time and money and may prove to be more costly to the lender. In April of 2010, the government enacted legislation under the HAFA (Home Affordable Alternatives Program)which provided homeowners and lenders with a streamlined process and incentives to negotiate short sales.

The first step in the process is to negotiate a contract with the homeowner that must be approved by the lender. If the contract is not acceptable to the lender then the Seller may not have sufficient time to sell to another party and avoid foreclosure. The following tips will increase your chances of negotiating a successful Somerville MA short sale.

Are You a Qualified Buyer?

Providing creditable evidence that you can purchase the property is absolutely necessary. The Seller is not likely to accept your offer without a valid credit approval as the lender will not grant approval. Obtain a credit approval from a reputable lender or if a cash buyer provide proof of funds. The approval must not contain conditions such as selling an existing property as this is an issue for the lender. If you are a strong motivated buyer with flexibility in your closing date, you will have greater success in negotiationg Somerville short sales.

Indentifying Potential Somerville Listings

Sellers selling short typically have a time-line they must meet to avoid foreclosure. If they have not connected with their lender(s) and started the process, it may not be possible to close before foreclosure. Your real estate agent can identify properties that you may consider. To preview properties currently available go to Somerville MA homes for sale. Additional information our agents will obtain includes:
Is the seller's short sale package prepared for submission to the lender? How many liens are on the property? If more than one, what are they? Is there a plan to obtain releases from all the lien-holders?

Don't take yourself out of the market for a property that has no chance of closing. Consider all properties for sale including Somerville MA short sales and foreclosures.

Offer and Acceptance by the Seller

The first step is to negotiate a contract with the Seller and you will be competing against other contracts. Some real estate agents market the property substantially below market value to entice buyers. Others price the property at the bottom of fair market value. The terms and conditions of your offer can be as important as the offered price. Sellers and lenders prefer offers with fewer contingencies.

Your Deposit - Sellers will not be likely to accept your offer with a low deposit. A buyer that has little to lose can easily pursue another property and "walk away". To demonstrate good faith offer the Seller a strong deposit.

Home Inspection - be prepared to invest the time and money in the home inspection prior to lender approval. A seller can't take the risk of conducting the inspection after lender approval. The buyer can easily "walk" from the home inspection and lenders normally will not approve them.

Flexible Closing Date - once the lender approves the offer, they may require a "quick" closing. You must be prepared to comply if you want to consummate the sale.

Subsequent Offers -As a rule, real estate agents must present all offers. A contract with a higher sales price may have a better chance of being approved by the lender. The lender will give the homeowner direction as to submitting additional offers. Also, be prepared to lock your interest rate thru closing so that your mortgage commitment will be valid.

Lender Approval

Lenders will do their "due diligence" to substantiate the value of the property and have no set formula to determine an acceptable price. However, Freddie Mac (one of the largest secondary market lenders) has a target sales price of 88% of one or more broker price opinions (BOP). Have realistic expectations of the approval process as it may take between 30-180 days and market conditions can change. If the lender and the Seller are participating in the HAFA program, these timelines will be streamlined for a quicker response. In fact, the Lender may have approved a listing price for the property.

As the Regional Manager of Virtual Homes Real Estate I can assist you with Somerville Massachusetts short sales, foreclosures and MLS listings currently on the market. I personally service Middlesex and Essex County buyers looking to purchase in those areas. Please call me at 800-856-2479.

Somerville MA short sale buying guide.

Haverhill MA Foreclosures and Bank Owned Homes for Sale

2010-10-03T18:34:00.001-07:00

Haverhill MA Foreclosures and Bank Owned Homes for Sale

Haverhill MA foreclosures, bank owned and REO (Real Estate Owned) are terms commonly used to describe properties that are owned by a lender (investor, financial institution; typically a bank), after an unsuccessful sale at a foreclosure auction or property obtained by a "deed in lieu." The lender will then resell the real estate by direct sale or market their inventory through a Realtor. Buyers often benefit by purchasing Haverhill MA foreclosures as the lender's interest is to dispose of the asset quickly and aggressively price them to reflect market conditions.

The foreclosure process begins when the homeowner defaults on their mortgage. The first step for the lien holder(s) is to obtain the right to sell at auction. In MA, this process takes a minimum of 75-90 days and if the homeowner contests the process in court or files bankruptcy the delay can be significant. Go to Haverhill MA foreclosures and register to receive a list of distressed real estate.

Haverhill Short Sales - Buying at Pre-Foreclosure

There are cases where a Haverhill Massachusetts home owner will attempt to sell their home before the bankforecloses on the property. The home owner is either already behind on their mortgage payments or will not be able to sell for a price that the net proceeds and additional resources would cover the balance owed on their mortgage. This is commonly referred to as a short-sale and requires the lender's approval. Obtaining approval can be a long and frustrating process. Additionally, there is no assurancethat the lender will accept an offer at or above the listed price or any viable contract presented.

If the Haverhill homeowner has entered the HAFA program (Home Affordable Foreclosure Alternative) offered by the US Treasury Department, the process is streamlined and offers the lender, homeowner and potential buyer additional incentives. Home buyers have a better chance of purchasing the property if a Seller is participating in this program. Lenders are in different stages of implementing this process and it is important to verify this information.

MA Foreclosure Law

In Massachusetts, non-judicial foreclosure is the most common method; judicial foreclosure is rarely used in MA. Lenders usually have a power of sale clause and must abide by stringent notice requirements. If a homeowner files for bankruptcy, the court can overturn the foreclosure sale if sold for less than market value. Therefore, lenders in Massachusetts proceed carefully and follow the requirements set forth in the law. Review Massachusetts Foreclosure law for government legislation about MA foreclosures.

Buying Haverhill Massachusetts at Foreclosure Auction

For most potential buyers, purchasing at a foreclosure auction is a "risky" undertaking and, in most cases, they will opt to purchase from the lender after the auction. Experienced investors understand the process and may have success in taking the risk. As a result, not many Haverhill MA foreclosure auctions end with a bidder being successful with an accepted offer. The lender takes back the title and takes possession of the property. The property is now "bank owned" and is often referred to as REO (real estate owned).

Haverhill Bank Owned or Foreclosed Real Estate

After a bank (lender, financial institution) forecloses on the property (after an unsuccessful auction), they mitigate items owed by the prior borrower, such as homeowner association fees. The lender also attempts to remove any tax liens against the property. If the property is occupied, the lender will make arrangements for the owner or tenant to vacate by eviction or with financial incentives.The property is cleaned and minor repairs are made to the property. The lender hopes to obtain a higher net sales price with minor improvements.

Banks want to sell foreclosed property quickly because they don't want to tie up their money these assets. Additionally, managing a foreclosed property may see further reductions in value and is a "headache". Lenders that have significant REO inventory often have a separate department to manage their inventory. In most cases, the lender will list their foreclosures with Haverhill real estate agents who market and manage the property. Buyers have the opportunity to view, investigate and inspect the property prior to final agreement to purchase. Lenders often market property "as is" which puts the potential buyer on notice as to the lender's position on minor repairs.

State and Federal requirements regarding property disclosure must be followed by lenders. They usually disclose that they have no knowledge of the property and can make no representations as they have never occupied the property. Banks may or may not provide owner financing on their REOs but in most cases, this would apply only to property that was in very bad condition. Property that has major structural defects or will require extensive repairs will be the buyer's best value.

Buyers with accepted contracts have the option to conduct full home inspections even though the property is being sold "as is". If major problems are found, the lender usually will negotiate to either a substantially lower price or make the repair. Generally, negotiating with a lender is an easier process than negotiating with a homeowner. Lenders are typically unemotional about the process and are interested in making a "good business" decision for the company. It is not in a buyer's best interest to attempt to renegotiate a contract over trivial items that were disclosed or obvious prior to negotiation of the contract. A Haverhill MA bank owned property isn't always the best value for a consumer. It's an old myth that "foreclosures" are a bargain. Consider all available property for sale which can be viewed at Haverhill MA homes for sale.

Negotiating a Contract for a Haverhill Property

Before submitting an offer, have your agent contact the listing agent and ask typical questions you would ask of any seller and some additional ones such as: Are there any documented inspections? Has the lender agreed to any repairs not completed? Are there required bank addendums?How quickly will the lender respond?How is the offer negotiated?

Since lenders do not typically work on weekends and due to the volume of REO inventory, the negotiating process may take longer and create frustration for the buyer. Make sure that your offer contains your "credit" approval which demonstrates your qualifications as a buyer as the lender is more motivated to negotiate with a qualified buyer.

Understand that lenders will sell at "fair" market value and do not expect "fire-sales" that you have seen of heard of in the media. As mentioned earlier, properties that need substantial structural and mechanical repairs will be negotiated aggressively There are fewer buyers qualified to buy these properties so lenders will offer greater discounts.

As the Regional Manager of Virtual Homes real estate I can assist you in the purchase of Haverhill MA foreclosures and bank owned real estate for sale. In addition, we can represent you as a Buyer's agent and represent your interests in the property search, research, negotiations, home inspection and closing of the transaction.

Your foreclosure buying guide for homes, condos and real estate for sale in Haverhill, MA

Massachusetts Virtual View: Quincy MA Condos for Sale

2010-10-03T18:08:00.001-07:00

Quincy MA Condos for Sale- Condominium Buying Guide

If you are involved in purchasing a Quincy MA condo, it is important to understand the legal ramifications of this type of ownership. Since you will be sharing land, amenities, common areas and amenities, there are rules and regulations that you must be familiar with. There are a benefits to condo ownership however certain Quincy condos may have restrictions that will affect your lifestyle. Visit Quincy MA real estate for information that will assist you in evaluating all property for sale.

What is a Condominium

A condominium is a form of land ownership which is governed in Massachusetts by laws found in the Massachusetts Condominium Act. This act covers the requirements for unit owners and condominium associations including matters related to interests in common areas and facilities, mandatory provisions for the association's by-laws and expenses incurred by the association of unit owners.

Quincy condo units typically consist of two or more units. Unit owners share joint ownership of common areas (grounds, hallways, etc.). The master deed is a document that places the land into condominium status and details the ownership structure. If you were to buy a Quincy MA home, you would have ownership the land and the building and could have joint ownership of green space with improvements This type of ownership is often referred to as PRD (Planned Unit Development) or PUD (Planned Unit Development).

Each unit owner will own a "percentage of interest in the common areas" as outlined and specified in the master deed.The boundariesof individual ownership and common ownership are also described in the master deed. The typical areas for common ownership other than the land parcel include elevators, hallways, staircases and amenities such as pools and tennis courts. Areas that service a specific unit, while still held in common, may also be designated as the "exclusive right to use" of a specific unit. Parking spaces, patios and balconies are typical examples of an exclusive area.

Quincy MA Condo Styles

Garden (flat) - Contains one-level of finished living space.

Townhome - Finished living space on two or more levels.

Detached - Free-standing building (no other unit is located in that same building).

Duplex - Often referred to as a condex with two units that are attached. There may be several duplexes/condexes within a particular complex.

Triple Decker - A triplex unit typically a conversion from a 3 unit apartment building.

Loft - Units developed from commercial/industrial buildings and converted to large open living areas.

Low Rise Building - Commonly described as a garden style building that has 4 or fewer levels.

Mid Rise Condo - Often mixed use buildings of 5-10 stories.

High Rise - May contain garden and townhome units and greater than 4 levels total in the building. High rises are commonly serviced by an elevator.

Condominium Management and Associations

The document that establishes the criteria for managing the condominium and common areas is called The Trust Agreement or the By-Laws and is recorded with the Master Deed. This document describes the structure and responsibilities of the Trustees who assume responsibility for the management of the association. Their tasks often include establishment of an annual budget, collection of fees; enforcement of rules and regulations, and managing of finances. Trustees may hire a professional management company to assist with these responsibilities. (The unit owners usually meet on an annual basis (minimum) which are scheduled by the Trustees according to the by-laws. At this meeting, the individual owners vote on the annual budget and to review other expenditures and condo issues.

Monthly Condo Fees

The management and maintenance of the association is determined by the Trustees and ratified by the unit owners as specified in by-laws of the condominium. Unit owner condo fees are based on the percentage of ownership of the common areas and the annual budget. If there is a shortfall, there may be a "Special Assessment" made to cover this additional expense. Based on the amount of shortfall, this may be charged as a one-time fee or spread out over several months or years.

Association Rules and Regulations

The Rules and Regulations regarding the use of the condominium and facilities are usually determined and established by the Trustees and may be voted on and changed from time to time by the Unit Owners.

What a Quincy Condo Buyer Should Know

Visit Quincy MA homes for sale to view all condos for sale.

If you are thinking of buying a Quincy MA condominium unit, be sure to review:

1. Condominium Documents - Master Deed, Condominium Trust, etc.
2. Rules & Regulations - Pets may not be allowed. Can you rent the unit?
3. Financial Statements - Annual and Current Budget, Delinquency Rate
4. Capital Reserve Fund - Will FHA approve the fund?
5. FHA, VA Approval - Is a current approval in place?
6. Special Assessments - Pending and approved
7. Management Company - Is there one? Who is it?
8. Pending Legal Actions - Are there any?
9. Ownership Concentration - How many units are owner occupied?
10. Monthly Condo Fee - What does it cover?
11. Master Insurance Policy - Verify coverage
12. Annual Meeting Minutes and Trustee Minutes (When Available)

If you are going to buy a Quincy MA condo you should have the documents reviewed by your attorney. Your Quincy Buyer's Agent should also be certain your offer provides for a cancellation should any part of the documents not be acceptable to you.

Importance of Working With a Quincy REALTOR in Your Condo Purchase

Condominium structures and considerations vary by city, state and region. The above is just a general guideline on the most common type of condominiums. Your Quincy REALTOR can provide additional details and educate you on everything that you need to know regarding your condo purchase, including information on co-ops and informal complexes such as converted multi-family buildings.

As the Regional Manager of Virtual Homes real estate I can personally provide buyer agent services for your purchase of a Quincy MA condo.

Quick and easy Quincy MA Condo Buying Guide

Methuen MA Short Sales

2010-10-03T17:36:00.001-07:00

Methuen MA Short Sales - Pre-foreclosure Values

As a home buyer looking for value in the purchase of real estate a short sale may be your best option. Buying a Methuen Massachusetts short sale is a difficult and often a frustrating process. To achieve your goal, hire experienced professionals that understand all aspects of the transaction. Expert advice can be provided by real estate agents, attorneys, mortgage brokers, bankers and home inspectors. Visit Methuen MA real estate for tools and resources to evaluate the community.

What is a Short Sale?

Homeowners in financial distress should consider various options, including a short sale, prior to foreclosure. This process may be the best option to preserve their credit and limit their debt exposure. In MA, the laws governing foreclosures provide incentives for lenders to workwith homeowners that have financial hardships. The foreclosure process takes time and money and may prove to be more costly to the lender. In April of 2010, the government enacted legislation under the HAFA (Home Affordable Alternatives Program)which provided homeowners and lenders with a streamlined process and incentives to negotiate short sales.

The first step in the process is to negotiate a contract with the homeowner that must be approved by the lender. If the contract is not acceptable to the lender then the Seller may not have sufficient time to sell to another party and avoid foreclosure. The following tips will increase your chances of negotiating a successful Methuen MA short sale.

Are You a Qualified Buyer?

Providing creditable evidence that you can purchase the property is absolutely necessary. The Seller is not likely to accept your offer without a valid credit approval as the lender will not grant approval. Obtain a credit approval from a reputable lender or if a cash buyer provide proof of funds. The approval must not contain conditions such as selling an existing property as this is an issue for the lender. If you are a strong motivated buyer with flexibility in your closing date, you will have greater success in negotiationg Methuen short sales.

Indentifying Potential Methuen Listings

Sellers selling short typically have a time-line they must meet to avoid foreclosure. If they have not connected with their lender(s) and started the process, it may not be possible to close before foreclosure. Your real estate agent can identify properties that you may consider. To preview properties currently available go to Methuen MA homes for sale. Additional information our agents will obtain includes:
Is the seller's short sale package prepared for submission to the lender? How many liens are on the property? If more than one, what are they? Is there a plan to obtain releases from all the lien-holders?

Don't take yourself out of the market for a property that has no chance of closing. Consider all properties for sale including Methuen MA short sales and foreclosures.

Offer and Acceptance by the Seller

The first step is to negotiate a contract with the Seller and you will be competing against other contracts. Some real estate agents market the property substantially below market value to entice buyers. Others price the property at the bottom of fair market value. The terms and conditions of your offer can be as important as the offered price. Sellers and lenders prefer offers with fewer contingencies.

Your Deposit - Sellers will not be likely to accept your offer with a low deposit. A buyer that has little to lose can easily pursue another property and "walk away". To demonstrate good faith offer the Seller a strong deposit.

Home Inspection - be prepared to invest the time and money in the home inspection prior to lender approval. A seller can't take the risk of conducting the inspection after lender approval. The buyer can easily "walk" from the home inspection and lenders normally will not approve them.

Flexible Closing Date - once the lender approves the offer, they may require a "quick" closing. You must be prepared to comply if you want to consummate the sale.

Subsequent Offers -As a rule, real estate agents must present all offers. A contract with a higher sales price may have a better chance of being approved by the lender. The lender will give the homeowner direction as to submitting additional offers. Also, be prepared to lock your interest rate thru closing so that your mortgage commitment will be valid.

Lender Approval

Lenders will do their "due diligence" to substantiate the value of the property and have no set formula to determine an acceptable price. However, Freddie Mac (one of the largest secondary market lenders) has a target sales price of 88% of one or more broker price opinions (BOP). Have realistic expectations of the approval process as it may take between 30-180 days and market conditions can change. If the lender and the Seller are participating in the HAFA program, these timelines will be streamlined for a quicker response. In fact, the Lender may have approved a listing price for the property.

As the Regional Manager of Virtual Homes Real Estate I can assist you with Methuen Massachusetts short sales, foreclosures and MLS listings currently on the market. I personally service Middlesex and Essex County buyers looking to purchase in those areas. Please call me at 800-856-2479.

Resource for evaluating Methuen MA short sales, foreclosures and real estate for sale

Massachusetts Virtual View: Methuen MA Foreclosures and Bank Owned Homes for Sale

2010-09-26T18:33:00.001-07:00

Methuen MA Foreclosures, Short Sales and Bank Owned Homes for Sale

Purchasing a home at a Methuen MA foreclosure auction has many risks to a potential buyer and in most cases the bank will bid and take possession of the property at auction. The property is then referred to as bank owned, REO (real estate owned) or foreclosed property.

A home owner may attempt a "short sale" whereby the bank agrees to accept less than the mortgage balance based on the owner's hardship and financial status. Obtaining approval can be a long and difficult process. Additionally, there is no assurance that the lender will accept an offer at or above the listed price.

Bank-owned and short sale listings are often marketed with a real estate agent and placed in the Massachusetts Multiple Listing Service (to ensure full market exposure).

Register at Methuen MA foreclosures (bank-owned) listings and short sale opportunities. We will contact you and provide:

A list of existing real estate foreclosure (bank-owned) and short sale listings in Methuen.

Email alerts on NEW foreclosure (bank-owned) and short sale listings in the MA MLS.

Address and mapping information.

Methuen MA Real Estate

For community information including school reports, demographic, relocation, home buying and selling information go to Methuen MA real estate. Visit Methuen MA MLS - Homes for Sale for a mapped based search of property listings by street and neighborhood. Utilize the the Methuen foreclosures popular search link for quick results.

For information regarding foreclosures in other towns and cities visit Massachusetts foreclosures, New Hampshire foreclosures and Connecticut foreclosures.

In addition to Methuen MA foreclosures and bank owned homes, Virtual Homes real estate agents provide home buying services for foreclosed real estate in surrounding communities. Please call 800-856-2479 for information.

Methuen MA foreclosure and bank owned real estate resource.

Massachusetts Virtual View: Beverly MA Homes for Sale

2010-09-26T18:23:00.001-07:00

Beverly MA Homes for Sale - Home Buying Guide

The process of buying a home is both exciting and at the same time can become stressful. It is advisable to utilize the services of knowledgeable real estate related professionals who can represent your interests and assist you in purchasing Beverly MA homes for sale. Buyers often interview mortgage loan officers, Realtors, attorneys, home inspectors, accountants and financial advisers. Visit Beverly MA real estate to evaluate the community demographics and obtain school, relocation, home buying and selling guides.

Beverly Home Mortgage Financing

Most home buyers will obtain a mortgage to purchase their home and there are numerous first-time home buyer financing programs offered by state agencies, local banks and national lenders. A common source for mortgage funding is the FHA (Federal Housing Administration). The major benefits of their programs include low down payment options (can be gifted by a family member), flexible qualifying, assumable mortgages, and rehab financing.

Your qualifications as a buyer is one of the most important elements in the negotiating process with a Seller. If you have a mortgage financing contingency, you must present a credit approval from a reputable lender so that the Seller will accept your offer. The Seller does not want to take their home off the market unless there are reasonable assurances that the financing contingency can be met. Make sure your pre-approval is current as mortgage standards often change.

Primary Reasons to Consider Purchasing a Home

The two primary benefits of home ownership are the government tax deductions and solving your housing needs. In many cases, especially for first time home buyers, you may own a property for less than it costs to rent it. Consult with your tax accountant to understand the true cost of owning a home as mortgage interest and property taxes are deductible costs. Interest rates are at historic lows and there is a wide variety of Beverly MA homes available at very affordable prices. Recent declines in property values offer exceptional values.

In many cases, homeownership provides you with a quality of life that you may not find in a rental. Various factors apply such as privacy, location, housing styles, space, amenities, fewer restrictions and rules to comply with. In addition, owning a home may be a good return on your investment provided that you are not forced to sell in a difficult market.

Finding Your Beverly MA Home

Consumers in Massachusetts have the option of contracting with a real estate agent to represent them in buyer agency and this is disclosed in a mandatory disclosure form required by state law. The agent has a fiduciary responsibility to represent the buyer's interests instead of the seller's. You should consult with two or three agents to determine their qualifications before signing an agency contract.

Your real estate agent can assist you in your homes search for a property listed in the MA MLS and homes sold by their owners (FSBO). Most property for sale, including Beverly MA foreclosures and bank owned homes, are listed in the MLS.

Visit Beverly MA homes for sale for all MLS listings displayed in a map based search. Properties can be viewed by location, price, age and specific criteria meeting your needs.

Home Inspection

Once you have found a Beverly property and are under contract, exercise your option to obtain a home inspection by a certified inspector. The inspection contingency will allow you to further evaluate the condition and structural integrity of the property. In a home inspection, a qualified inspector takes an in-depth, unbiased look at your potential new home to evaluate the physical condition structure, construction, and mechanical systems; identify items that need to be repaired or replaced; and estimate the remaining useful life of the major systems, equipment, structure, and finishes.

Title and Closing

Title companies or attorneys will research the title to make sure both the lender and the buyer is protected and has clear title to the property. Schedule a final walk-thru inspection of the property prior to signing the closing papers. Once the closing is complete buyers can now occupy their new home.

Virtual Homes real estate agents will assist you finding a Beverly MA home for sale that meets all of your real estate needs.

Find your dream home at Beverly MA homes for sale real estate resource.

Massachusetts Virtual View: Watertown MA Foreclosures and Bank Owned Homes for Sale

2010-09-26T17:38:00.001-07:00

Watertown MA Foreclosures and Bank Owned Real Estate

Watertown MA bank owned foreclosures describe property the lender obtains after an unsuccessful foreclosure auction. The lender usually sells the real estate by direct sale or market their inventory through a Realtor. Buyers often benefit by purchasing Watertown MA foreclosures as the lender's interest is to dispose of the asset quickly and aggressively price them to reflect market conditions.

The foreclosure process begins when the homeowner defaults on their mortgage. The first step is to obtain the right to sell at auction. This process will take a minimum of 75 days with substantial delays possible if the homeowner uses the law to their benefit. To view current bank owned and short sale listings go to Watertown MA foreclosures.

Watertown MA Short Sales - Buying at Pre-Foreclosure

There are cases where a Watertown MA homeowner will attempt to sell their home before the bank starts the foreclosure process. The homeowner is either already behind on their mortgage payments or will not be able to sell for a price that the net proceeds and additional resources would cover the balance owed on their mortgage. This is commonly referred to as a short-sale and requires the lender's approval. Obtaining approval can be a long and difficult process. Additionally, there is no assurance that the lender will accept any offer presented.

If the Watertown homeowner has entered the HAFA program (Home Affordable Foreclosure Alternative) offered by the government, the process is streamlined and offers the lender, homeowner and potential buyer additional incentives. Home buyers have a better chance of purchasing the property if a Seller is participating in this program.

Massachusetts Foreclosure Law

In Massachusetts, non-judicial foreclosure is the most common method; judicial foreclosure is rarely used in MA. Lenders usually have a power of sale clause and must abide by stringent notice requirements. If a homeowner files for bankruptcy, the court can overturn the foreclosure sale if sold for less than market value. For this reason, MA lenders proceed very carefully in foreclosing on a property, Review Massachusetts Foreclosure law for government legislation about MA foreclosures.

Buying Watertown MA Homes at Foreclosure Auction

For most potential buyers, purchasing at a foreclosure auction is a "risky" undertaking and, in most cases, buying from the lender after the auction is a better option. As a result, not many Watertown MA foreclosure auctions end with the sale of the property. Watertown MA real estate is a great resource for information about the community which can assist you in evaluating property values.

The title reverts back to the financial institution holding the lien. The property is now "bank owned" and is often referred to as REO (real estate owned).

Watertown Bank Owned or Foreclosed Real Estate

After a bank (lender, financial institution) forecloses on the property (after an unsuccessful auction), they mitigate items owed by the prior borrower, such as homeowner association fees. The lender also tries to get the IRS to remove any tax liens against the property. If the property is occupied, the lender will make arrangements for the owner or tenant to vacate by eviction or with financial incentives.The property is cleaned and minor repairs are made to the property. The lender wants to make it more attractive to potential buyers and maximize the value.

Banks want to sell foreclosed property quickly because they don't want to tie up their money in capital reserves. Additionally, managing a foreclosed property may see further reductions in value and is a "headache". Lenders that have significant REO inventory often have a separate department to manage their inventory.
In most cases, the lender will list their foreclosures with real estate agents who market and manage the property. Buyers have the opportunity to view, investigate and inspect the property prior to final agreement to purchase. Some lenders will negotiate repairs and concessions, but in most cases their preference is to sell "as is" at a "discounted price". The Watertown MA MLS will provide you with direct access to all current listings.

State and Federal requirements regarding property disclosure must be followed by lenders. They usually state that they have no knowledge of the property and can make no representations as they have never occupied the property. Banks may or may not provide owner financing on their REOs but in most cases, this would apply only to property that was in very bad condition. A buyer is likely to obtain a better value for properties that need substantial repairs.

Buyers with accepted contracts have the option to conduct full home inspections even though the property is being sold "as is". If major unknown material defects are found, the lender usually will negotiate to either a substantially lower price or make the repair. Generally, negotiating with a lender is an easier process than negotiating with a homeowner. Lenders are typically unemotional about the process and are interested in making a "good business" decision for their stockholders. If a buyer is unreasonable in negotiating the lender will move on to the next potential buyer. An Watertown MA bank owned property isn't always the best value for a consumer. It's an old myth that "foreclosures" are a bargain.

Negotiating a Contract for a Watertown Foreclosure Property

Before submitting an offer, have your agent contact the listing agent and ask typical questions you would ask of any seller and some additional ones such as: Are there any inspection reports? Has the lender agreed to any repairs not completed? Is there a special "as is" form? How long does it take the bank to accept an offer? How is the offer negotiated?

The negotiating process can be very frustrating for buyers as the typical timelines do not apply and understand that lenders do not work on weekends. Your offer must be accompanied by your credit approval as a lender will not negotiate with a buyer who is not qualified. Do not expect lenders to "give away" property as they understand what the property should sell for in the marketplace. As mentioned earlier, properties that need substantial structural and mechanical repairs will be negotiated aggressively There are fewer buyers qualified to buy these properties so lenders will offer greater discounts.

Virtual Homes real estate agents will provide you with a list of Watertown MA foreclosures and bank owned real estate for sale. In addition, we can represent you as a Buyer's agent and represent your interests in the property search, research, negotiations, home inspection and closing of the transaction.

Watertown MA real estate resource for finding and buying foreclosures and bank owned homes for sale.

Massachusetts Virtual View: Medford MA Short Sales

2010-09-26T17:33:00.001-07:00

Medford MA Short Sales - Pre-foreclosure Values

As a home buyer looking for value in the purchase of real estate a short sale may be your best option. Buying a Medford Massachusetts short sale is a difficult and often a frustrating process. To achieve your goal, hire experienced professionals that understand all aspects of the transaction. Expert advice can be provided by real estate agents, attorneys, mortgage brokers, bankers and home inspectors. Visit Medford MA real estate for tools and resources to evaluate the community.

What is a Short Sale?

Homeowners in financial distress should consider various options, including a short sale, prior to foreclosure. This process may be the best option to preserve their credit and limit their debt exposure. In MA, the laws governing foreclosures provide incentives for lenders to workwith homeowners that have financial hardships. The foreclosure process takes time and money and may prove to be more costly to the lender. In April of 2010, the government enacted legislation under the HAFA (Home Affordable Alternatives Program)which provided homeowners and lenders with a streamlined process and incentives to negotiate short sales.

The first step in the process is to negotiate a contract with the homeowner that must be approved by the lender. If the contract is not acceptable to the lender then the Seller may not have sufficient time to sell to another party and avoid foreclosure. The following tips will increase your chances of negotiating a successful Medford MA short sale.

Are You a Qualified Buyer?

Providing creditable evidence that you can purchase the property is absolutely necessary. The Seller is not likely to accept your offer without a valid credit approval as the lender will not grant approval. Obtain a credit approval from a reputable lender or if a cash buyer provide proof of funds. The approval must not contain conditions such as selling an existing property as this is an issue for the lender. If you are a strong motivated buyer with flexibility in your closing date, you will have greater success in negotiationg Medford short sales.

Indentifying Potential Medford Listings

Sellers selling short typically have a time-line they must meet to avoid foreclosure. If they have not connected with their lender(s) and started the process, it may not be possible to close before foreclosure. Your real estate agent can identify properties that you may consider. To preview properties currently available go to Medford MA homes for sale. Additional information our agents will obtain includes:
Is the seller's short sale package prepared for submission to the lender? How many liens are on the property? If more than one, what are they? Is there a plan to obtain releases from all the lien-holders?

Don't take yourself out of the market for a property that has no chance of closing. Consider all properties for sale including Medford MA short sales and foreclosures.

Offer and Acceptance by the Seller

The first step is to negotiate a contract with the Seller and you will be competing against other contracts. Some real estate agents market the property substantially below market value to entice buyers. Others price the property at the bottom of fair market value. The terms and conditions of your offer can be as important as the offered price. Sellers and lenders prefer offers with fewer contingencies.

Your Deposit - Sellers will not be likely to accept your offer with a low deposit. A buyer that has little to lose can easily pursue another property and "walk away". To demonstrate good faith offer the Seller a strong deposit.

Home Inspection - be prepared to invest the time and money in the home inspection prior to lender approval. A seller can't take the risk of conducting the inspection after lender approval. The buyer can easily "walk" from the home inspection and lenders normally will not approve them.

Flexible Closing Date - once the lender approves the offer, they may require a "quick" closing. You must be prepared to comply if you want to consummate the sale.

Subsequent Offers -As a rule, real estate agents must present all offers. A contract with a higher sales price may have a better chance of being approved by the lender. The lender will give the homeowner direction as to submitting additional offers. Also, be prepared to lock your interest rate thru closing so that your mortgage commitment will be valid.

Lender Approval

Lenders will do their "due diligence" to substantiate the value of the property and have no set formula to determine an acceptable price. However, Freddie Mac (one of the largest secondary market lenders) has a target sales price of 88% of one or more broker price opinions (BOP). Have realistic expectations of the approval process as it may take between 30-180 days and market conditions can change. If the lender and the Seller are participating in the HAFA program, these timelines will be streamlined for a quicker response. In fact, the Lender may have approved a listing price for the property.

Virtual Homes Real Estate agents can assist you with Medford Massachusetts short sales, foreclosures and MLS listings currently on the market. Please call us at 800-856-2479.

Informative article about buying a short sale in Medford MA.

USDA Financing - Show Me the Money

2010-09-23T14:25:00.001-07:00

USDA Financing - Show Me the Money
70
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By fdoleac

USDA Funds Approved but not Released

For those of you that are potential home buyers, you may be aware of the 100% financing program available through the USDA. Through the Single Family Housing Guaranteed Loan Program (SFHGLP), lenders were authorized (May 2010) the issuance of Conditional Commitments so that loans could continue to be funded and closed until funds were used up.

President Obama signed the measure H.R. 4899 on July 29th making it law. On August 23, 2010 the USDA reported that Congress had authorized the program to continue at no cost to the taxpayer. Funding fees and a new electronic process were being revamped with the new approval allowing their programs to be issued without impact to the taxpayer.

Show Me the Money

Since that time, lenders have stopped accepting applications for the 502 Guaranteed Mortgage which is the USDA Rural Housing Guaranteed loan and one of their lending options.

Why?

It appears that the “decision makers” want to exhaust the funds available for the 502 Direct Loans before releasing funds for the “indirect” program. Those that operate government programs fear that if funds and programs appropriated by Congress are not utilized, then they will be reduced or eliminated. Evidently, the Direct Lending program is in that category.

This information is based on speculation by “industry insiders” who believe the politics of the situation is controlling the decision.

It is difficult to imagine that first time home buyers who must close by September 30, 2010 to qualify for the tax credit are being impacted on this level. Not to mention the struggling housing industry which is one major area of potential job creation.

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Real Estate Resources

Virtual Homes Real Estate & Homes for Sale
Real estate resource providing virtual tours andinformation about the home buying and selling process with MLS search tools, buyer agency services and relocation information.

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USDA, a primary provider of 100% financing for many first-time home buyers, has been stonewalled by politics.

How to Buy Newburyport Distressed Real Estate - Foreclosed Homes for Sale : Virtual View - The New Real Estate Economy

2010-09-19T17:41:00.001-07:00

Newburyport Massachusetts foreclosures, bank owned and REO (Real Estate Owned) are terms commonly used to describe properties that are owned by a lender (investor, financial institution; typically a bank), after an unsuccessful sale at a foreclosure auction or property obtained by a "deed in lieu." The lender will then resell the property by direct sale or market their inventory through a Realtor. The lender is motivated to sell the property quickly and qualified buyers may benefit from an aggressive market price.

The foreclosure process begins when the homeowner defaults on their mortgage. The first step for the lien holder (s) is to obtain the right to sell at auction. In Massachusetts, this process takes a minimum of 75-90 days and if the homeowner contests the process in court or files bankruptcy the delay can be significant. Go to

Newburyport MA Foreclosed homes for sale is a great resource for finding and buying distressed real estate.

Falmouth MA Short Sales

2010-09-04T19:19:00.001-07:00

As a home buyer looking for value in the purchase of real estate you may consider a Falmouth MA short sale as a viable option. Buying a short sale is a difficult and often a frustrating process and should not be confused with a foreclosure. Visit www.falmouthmarealestate.com to utilize the foreclosure and short sale resources.>

If you are in the market for a Falmouth MA short sale or foreclosure, this article will assist you in understanding the process and finding qualifying properties.

Cape Cod Real Estate for Sale - MLS Search Tools

2010-09-04T18:12:00.001-07:00

The Cape Cod real estate buying process can be complicated and you will benefit from the guidance of industry professionals. A real estate buyer's agent, mortgage lender and an attorney are the primary advisers in the purchase of property. If you are a visitor looking for a vacation or retirement home or a first-time homebuyer, there are a variety of MLS search tools to assist you in finding the ideal property.

If you are looking for Cape Cod real estate, this site (www.capecodmarealestate.com) provides valuable resources to assist in your search.

Mashpee MA Foreclosures and Bank Owned Real Estate for Sale

2010-09-04T18:01:00.001-07:00

Excellent resource for finding Mashpee MA foreclosures with direct MLS access, new listing alert service by Laurie Bailey-Gates, a Cape cod real estate professional.

Falmouth MA Homes for Sale

2010-09-01T12:06:00.001-07:00

Falmouth MA Homes for Sale - Your Homebuying Guide

The process of buying a home is both exciting and at the same time can become stressful. It is advisable to utilize the services of a knowledgeable real estate related professionals who can represent your interests and assist you in purchasing Falmouth MA homes for sale. Buyers often interview mortgage loan officers, Realtors, attorneys, home inspectors, accountants and financial advisors.

Visit Falmouth MA real estate to evaluate the community demographics and obtain school, relocation, home buying and selling guides.

Falmouth MA Home Mortgage Financing

Most home buyers will obtain a mortgage to purchase their home and there are numerous first-time home buyer financing programs offered by state agencies, local banks and national lenders. A common source for mortgage funding is the FHA (Federal Housing Administration). The major benefits of their programs include low down payment options (can be gifted by a family member), flexible qualifying, assumable mortgages, and rehab financing.

Your qualifications as a buyer are one of the most important elements in the negotiating process with a Seller. If you have a mortgage financing contingency, you must present a credit approval from a reputable lender so that the Seller will accept your offer. The Seller does not want to take their Falmouth MA home off the market unless there are reasonable assurances that the financing contingency can be met. Make sure your pre-approval is current as mortgage standards often change.

Primary Reasons to Consider Purchasing a Falmouth MA Home

The two primary benefits of homeownership are the government tax deductions and solving your housing needs. In many cases, especially for first time homebuyers, you may own a property for less than it costs to rent it. Consult with your tax accountant to understand the true cost of owning a home as mortgage interest and property taxes are deductible costs. Interest rates are at historic lows and there is a wide variety of property available at very affordable prices. Recent declines in Falmouth property values offer exceptional opportunities.

In many cases, homeownership provides you with a quality of life that you may not find in a rental. Various factors apply such as privacy, location, housing styles, space, amenities, fewer restrictions and rules to comply with. In addition, owning a Falmouth MA home may be a good return on your investment provided that you are not forced to sell in a difficult market. Falmouth has a high concentration of second homes which affects the stability of the residential market. The population triples during the summer season with vacationers and second home owners. If you are in the market to buy a vacation or retirement home you should become familiar with the rental options and restrictions in condo developments.

Finding Your Falmouth MA Home

Consumers in Massachusetts have the option of contracting with a real estate agent to represent them in buyer agency and this is disclosed in a mandatory disclosure form required by state law. The agent has a fiduciary responsibility to represent the buyer's interests instead of the seller's. You should consult with two or three agents to determine their qualifications before signing an agency contract.

Your real estate agent can assist you in your homes search for a property listed in the MA MLS and homes sold by their owners (FSBO). Visit Falmouth MA homes for sale for a mapped based search of all listings for sale. Most property for sale, including Falmouth MA foreclosures and bank owned homes, are listed in the MLS.

Home Inspections

Once you have found a Falmouth MA home and are under contract, exercise your option to obtain a home inspection by a certified inspector. The inspection contingency will allow you to further evaluate the condition and structural integrity of the property. In a home inspection, a qualified inspector takes an in-depth, unbiased look at your potential new home to evaluate the physical condition structure, construction, and mechanical systems; identify items that need to be repaired or replaced; and estimate the remaining useful life of the major systems, equipment, structure, and finishes.

Title and Closing

Title companies or attorneys will research the title to make sure both the lender and the buyer is protected and has clear title to the property. Schedule a final walk-thru inspection of the property prior to signing the closing papers. Once the closing is complete buyers can now occupy their new home.

Virtual Homes real estate agents will assist you finding a Falmouth MA home for sale that meets all of your real estate needs.

Falmouth MA homes for sale is a great resource for finding and buying your dream home. MLS search, tips on financing and a successful transaction.

Massachusetts Virtual View: Framingham MA Short Sales

2010-08-30T19:47:00.001-07:00

Framingham MA Short Sales - Pre-foreclosure Purchase

As a home buyer looking for value in the purchase of real estate you may consider a Framingham MA short sale as a viable option. Buying a short sale is a difficult and often a frustrating process and should not be confused with a foreclosure. To have success, hire experienced professionals that understand all aspects of the transaction. Utilize the services of Realtors, attorneys, accountants, mortgage lenders and home inspectors as they all provide expert advice.

A Framingham Short Sale Defined

Homeowners that have financial hardships may pursue a short sale prior to foreclosure. The property value is less than the outstanding liens on the property (mortgages and insurance premiums) and the homeowner does not have sufficient resources to pay the difference. Negotiating a short sale may be a preferable option to preserve their credit and limit their debt exposure. If approved by the lender(s) they are willing to accept less than what is owed to them.

Massachusetts law often presents the lender with incentives to offer the homeowner other alternatives. The foreclosure process takes time and money and may prove to be more costly to the lender. Under the Home Affordable Foreclosure Alternative (HAFA) offered in 2010 by the Treasury Department, lenders and homeowners have additional incentives to consider a short sale. Buyers also benefit as the Framingham MA short sale listing may have been pre-approved and will allow for a more typical negotiation and transaction.

The first step to a successful Framingham MA short sale transaction requires the negotiation of an acceptable contract with the Seller subject to lender approval with no guarantees that your offer will be approved. If the contract is not approved by the lender then the Seller may not have sufficient time to sell to another party and avoid foreclosure. The following tips will increase your chances of negotiating a successful Massachusetts short sale transaction:

You Must be Credit Approved

As a home buyer you must provide evidence that you qualify to purchase the property. The Seller is not likely to accept your offer without a valid credit approval as the lender will not grant approval. Get pre-approved from a reputable lender or if a cash buyer provide proof of funds. The approval must not contain conditions such as selling an existing property as this is an issue for the lender.

Finding Framingham Listings That Qualify

Homeowners in financial distress typically have a limited amount of time to find a qualified buyer. If they have not connected with their lender(s) and started the process, there may not be sufficient time to affect a sale. Consider all Framingham MA real estate listings and surrounding communities. As your real estate agent, I can identify properties that you may consider. Information I will obtain includes:

Is the seller's short sale package prepared for submission to the lender?

Does the property have multiple liens? If more than one, what are they?

Is there a plan to obtain releases from all the lien-holders?

If you pursue a property that is not "short sale ready" you may be restricted from buying other properties of interest. A Framingham MA short sale may not be your best option so consider all listing availabe at Framingham homes for sale.

Offer and Acceptance by the Seller

The first step is to negotiate a contract with the Seller and you will be competing against other buyers. Some real estate agents market the property substantially below market value to entice buyers. Others price the property at the bottom of fair market value. Price, terms and your qualifications will be the deciding factors for Seller acceptance. Sellers and lenders prefer offers with fewer contingencies.

Your Deposit - Sellers will not be likely to accept your offer with a low deposit. A buyer that has little to lose can easily pursue another property and "walk away". To demonstrate good faith offer the Seller a strong deposit.

Home Inspection - It is customary to conduct the home inspection prior to submitting to the lender. A seller can't take the risk of allowing the inspection after lender approval. The buyer can easily "walk" from the home inspection and lenders normally will not approve them.

Flexible Closing Date - Lenders often approve short sales with quick closings. You must be prepared to comply if you want to consummate the sale.

Subsequent Offers -As a rule, real estate agents must present all offers. A contract with a higher sales price may have a better chance of being approved by the lender. The lender will give the Seller direction as to submitting additional offers and in most cases they will be treated as back-up offers. In addition, arrange for your lender to lock your interest rate for your mortgage so that you qualify whenever the closing is required.

Lender Approval

Lenders have no set formula for determining the value of the property other than to substantiate values through due diligence. However, Freddie Mac (one of the largest secondary market lenders) has a value range of 88% of one or more broker price opinions (BOP). Have realistic expectations of the time-frame for approval as it may take between 30-180 days and property values can change.

If the lender and the Seller are participating in the HAFA program, these timelines will be streamlined for a quicker response. Once the homeowner has started the process, the documents for lender approval may have already been reviewed and a projected selling price established.

If you are interested in pursuing a Framingham MA short sale or other listings currently on the market, please contact Virtual Homes Real Estate at 800-856-2479.

Framingham ma short sales are not the typical real estate transaction. This resource will assist you in finding, evaluating and buying through the short sale process.

Virtual Homes Real Estate Welcomes Lori Robertson-Stoudt, Former RE/MAX Managing Broker

2010-08-27T05:29:00.001-07:00

Virtual Homes Real Estate Welcomes Lori Robertson-Stoudt, Former RE/MAX Managing Broker

Leading Souhegan Valley real estate office, Virtual Homes Real Estate gains area prestige as Lori Robertson-Stoudt joins the Amherst, NH headquarters. Lori, a former RE/MAX managing Broker will be an Associate Broker and Recruiting Manager.

Lori Robertson-Stoudt

FOR IMMEDIATE RELEASE

PRLog (Press Release) – Aug 25, 2010 – Lori is a member of the Greater Manchester Board of REALTORS and holds the ABR, CRS and CDPE designations, along with degrees in both marketing and management. Licensed in New Hampshire and Massachusetts, Lori is also the published author of two real estate specific internet books titled, "Virtual Realty," and "Agent Guru." She has lectured for Universities, Board of REALTOR Associations, Business Women’s groups and is currently working on a “tongue and cheek” humor book depicting some of the more bizarre real estate transactions in the industry.
Fred Doleac, Owner/Broker of Virtual Homes Real Estate, a New England based independent broker licensed in five states, has known Lori Robertson-Stoudt for many years and has always been impressed with her dedication and commitment to the real estate profession.

"Lori’s a highly motivated and experienced Broker who has a broad and extensive background in real estate and technology. In fact, Lori was instrumental in the design and launch of the first Virtual Homes website 16 years ago. I am excited to work with Lori again to develop cutting edge technology tools and systems to attract and support our agents.”
Robertson-Stoudt said, “I believe Virtual Homes is the "wave of the future" in real estate. Not only do they have a lead generation program but they offer superior technology expertise and tools to help guide agents and assist them in doing more business now and in the future.”

” I joined Virtual Homes because I don't believe in a "bricks and mortar" company as everyone is working remotely and the trends continue to gravitate in that direction. Agents need higher profitability and more flexibility to do their business from anywhere in the world, and less old school management. The old business model is becoming less relevant.”

Lori will assist in the recruiting of agents and the expansion of the Virtual Homes Virtual Office System. Agents work from their home offices providing their local communities with exceptional and professional services. The company supports agents through a full integration of technology, tools, and training.

Doleac said, “We plan to expand our Amherst office as well as our virtual offices in MA and RI. Lori understands the value of technology and will be an important member of our management team.”

Virtual Homes is positioning itself as a leading industry company, and Fred Doleac along with Lori Robertson-Stoudt are excited about taking agents to the next level in their real estate careers.

For more information on Virtual Homes visit http://www.VirtualHomes.com.
Lori Robertson-Stoudt can be reached at the Virtual Homes real estate main office in Amherst, NH at 603-732-1800.

# # #

Virtual Homes Real Estate is an innovative company that evolved from RE/MAX franchises and a leading Internet marketing company. By combining experience, technology and training we are leaders in meeting the needs of home buyers and sellers.

--- end --- Visit Press Room

Contact Email : ***@virtualhomes.com

Issued By : Fred Doleac, Founder and CEO

Phone : 603-732-1800

Address : 55 Ponemah Road

Zip : 03031

City/Town : Amherst

State/Province : New Hampshire

Country : United States

Categories : Real estate, Business, Technology

Tags : virtual homes, virtual homes real estate, virtual office, nh real estate, real estate broker, real estate agent

Last Updated : Aug 25, 2010

Shortcut : http://prlog.org/10884301

via prlog.org

We are proud that Lori Robertson-Stoudt has chosen Virtual Homes Real Estate to continue developing her real estate career. Her experience, commitment and professionalism represents the values of our company and will assist us in building our company.

Massachusetts Virtual View: Newton MA Short Sales - Pre-Foreclosure Values

2010-08-14T19:14:00.001-07:00

Newton Massachusetts Short Sales - Not You're Typical Real Estate Transaction

If you are buying a home and want the best "deal" in the purchase of real estate a "short sale" may be your best option. Buying a Newton MA short sale is a difficult and often a frustrating process. To have success, hire experienced professionals that understand all aspects of the transaction. Expert advice can be provided by real estate agents, attorneys, mortgage brokers or bankers and home inspectors.

What is a Short Sale?

Homeowners that have financial difficulties may pursue a short sale prior to foreclosure. This process may be the best option to preserve their credit and limit their debt exposure. In MA, the laws governing foreclosures provide incentives for lenders to work with homeowners that can no longer afford their homes. The foreclosure process takes time and money and may prove to be more costly to the lender.

Under the Home Affordable Alternatives Program (HAFA) offered in 2010 by the Treasury Department, lenders and homeowners have additional incentives to consider a short sale. Homeowners have a choice to enter the HAFA program or attempt to negotiate with their lender outside the program. As a buyer, you may have more success purchasing a property that is in the program due to the streamlined process. Your real estate agent can determine which properties are in the program.

The Short Sale Process

The first step in the process is to negotiate a contract with the homeowner that would be subject to lender approval If the contract is not approved by the lender then the Seller may not have sufficient time to sell to another party and avoid foreclosure. The following tips will increase your chances of negotiating a successful Newton Massachusetts short sale transaction:

You Must be Credit Approved

Providing creditable evidence that you can purchase the property is absolutely necessary. The Seller is not likely to accept your offer without a valid credit approval as the lender will reject the contract. Obtain a credit approval from a reputable lender or if a cash buyer provide proof of funds. The contract must have only the standard and typical conditions of sale to obtain lender approval.

Finding Newton Listings That Qualify

Homeowners in financial distress typically have a limited amount of time to find a qualified buyer. If they have not connected with their lender(s) and started the process, there may not be sufficient time to affect a sale. As mentioned earlier, if the homeowner is in the HAFA program, they have already begun the process. Go to Newton MA foreclosures and register to receive new and current listings available in the MLS. As your Realtor, I can pre-qualify a listing on your behalf. Information I will obtain includes:

Is the seller's short sale package prepared for submission to the lender?

How many liens are on the property? If more than one, what are they? Is there a plan to satisfy all the lien-holders?

Don't take yourself out of the market for a property that has no chance of closing. Consider and evaluate all properties on the market and surrounding communities. Visit Newton MA real estate for community, demographic, school, relocation and home buying information.

Negotiating the Offer for a Newton Massachusetts Home

The first step is to negotiate a contract with the Seller and you will be competing against other contracts. Some real estate agents market the property substantially below market value to entice buyers. Others offer the property at the low end of fair market value. The terms and conditions of your offer can be as important as the offered price. Sellers and lenders prefer offers with fewer contingencies.

You're Deposit - Sellers will not be likely to accept your offer with a low deposit. A buyer that has little to lose can easily pursue another property and "walk away". To demonstrate good faith, offer the Seller a strong deposit.

Home Inspection - be prepared to invest the time and money in the home inspection prior to lender approval. A seller may not want to take the risk of allowing the inspection after lender approval. The buyer can easily "walk" from the home inspection and lenders normally will not approve them.

Flexible Closing Date - once the lender approves the offer, they may require a "quick" closing. You must be prepared to comply if you want to consummate the sale.

Subsequent Offers

The listing agent must submit all offers to the Seller up to closing. A contract with better terms and conditions may have a better chance of being approved by the lender. The lender will give the homeowner direction as to their policy submitting additional offers. In most cases, once the homeowner has an accepted offer, additional offers will be considered as a back-up contracts. Also, be prepared to lock your interest rate thru closing so that your mortgage commitment will be valid.

Lender Approval

Lenders have no set formula for determining the value of the property other than to substantiate values through due diligence. However, Freddie Mac (one of the largest secondary market lenders) has a value range of 88% of one or more broker price opinions (BOP). Have realistic expectations of the approval process as it may take between 30-180 days and market conditions can change.

If the lender and the Seller are participating in the HAFA program, these timelines will be streamlined for a quicker response. In fact, the Lender may have approved a listing price for the property and negotiate a contract as they would a bank owned property.

Virtual Homes Real Estate agents can assist you with Newton MA short sales, foreclosures and MLS listings currently on the market. We can represent you as a Buyer's agent which provides for a fiduciary responsibility to you to protect your interests as a client.

Newton Massachusetts real estate resource for finding and evaluating Newton MA short sales.

Framingham MA Homes for Sale

2010-08-14T18:58:00.001-07:00

Framingham Massachusetts Home Buying Guide

Purchasing a home can be a very stressful and confusing process especially if you are a first time buyer. It is advisable to utilize the services of real estate related professionals who can offer client level services to assist you in purchasing Framingham homes for sale. These professionals' include mortgage loan officers, Realtors, attorneys, home inspectors, accountants and financial advisors during the process of purchasing real estate.

Information regarding the home buying and selling process, demographics, commuting, school and relocation information can be found by visiting Framingham MA real estate.

Framingham is ideally located for an easy commute to Boston and the surrounding suburbs. Location within the community has a major impact on property values. Visit Framingham MA homes for sale to view all listings by location in a mapped based search (see the map below).

Financing

Most home buyers will finance the purchase of their home and there are numerous first-time home buyer financing programs offered by state agencies, local banks and national lenders. A common source for mortgage funding is the FHA (Federal Housing Administration). The major benefits of their programs include low down payment options (can be gifted by a family member), flexible qualifying, assumable mortgages, and rehab financing.

Why you should consider owning a home:

Solve a housing need.

Historically low interest rates.

Lower Selling Prices - declining values in the past three years provide exceptional price offerings.

Tax benefits - current tax law favors owning a home over renting.

The Framingham MA Home Search

Consumers in MA have the option of contracting with a real estate agent to represent them in "buyer agency" and this is disclosed in a "mandatory disclosure form" required by state law. The agent has a fiduciary responsibility to represent the buyer's interests instead of the seller's. You should consult with interview two or three agents to determine their qualifications before signing an agency contract.

Your agent can assist you in your search for a property including homes sold by their owners (FSBO). Framingham homes for sale are listed in the MA MLS (Multiple Listing Service) including Framingham MA foreclosures and bank owned homes. The picture below is a screen shot of the Framingham MLS map search tool provided by Virtual Homes Real Estate.

Home Inspection

Once you have found the property and successfully negotiated a purchase and sales agreement, you should consider contracting for a home inspection. This process will give you more detailed information about the overall condition of the home prior to purchase. In a home inspection, a qualified inspector takes an in-depth, unbiased look at your potential new home to evaluate the physical condition structure, construction, and mechanical systems; identify items that need to be repaired or replaced; and estimate the remaining useful life of the major systems, equipment, structure, and finishes.

Title and Closing

Your contract with the Seller stipulates that you will receive "clear title" to the property. Your attorney or Title Company will perform this service for a fee which is considered part of your closing costs. Prior to the actual closing, most buyers schedule a final walk-through with their agent to inspect the property. You can begin moving in once the closing papers have been signed and the final terms and conditions with the Seller have been met.

To assist you in finding a Framingham MA home for sale, please contact Virtual Homes Real Estate.

Reviewed this resource for finding and evaluating Framingham MA homes for sale. Great tools

Salem MA Foreclosures and Bank Owned Homes for Sale

2010-08-14T18:53:00.001-07:00

Salem MA Foreclosures, Short Sales and Bank Owned Homes for Sale

Purchasing a home at a Salem MA foreclosures auction has many risks to a potential buyer and in most cases the bank will bid and take possession of the property at auction. The property is then referred to as bank owned, REO (real estate owned) or foreclosed property.

A home owner may attempt a "short sale" whereby the bank agrees to accept less than the mortgage balance based on the owner's hardship and financial status. Obtaining approval can be a long and difficult process. Additionally, there is no assurance that the lender will accept an offer at or above the listed price.

Bank-owned and short sale listings are often marketed with a real estate agent and placed in the Massachusetts Multiple Listing Service (to ensure full market exposure).

Register at Salem MA foreclosures (bank-owned) listings and short sale opportunities. We will contact you and provide:

A list of existing real estate foreclosure (bank-owned) and short sale listings in Salem.

Email alerts on NEW foreclosure (bank-owned) and short sale listings in the MA MLS.

Address and mapping information.

For community information including school reports, demographic, relocation, home buying and selling information go to Salem MA real estate. Visit Salem MA MLS - Homes for Sale for a mapped based search of property listings by street and neighborhood.

For information regarding foreclosures in other towns and cities visit Massachusetts foreclosures, New Hampshire foreclosures and Connecticut foreclosures.

In addition to Salem MA foreclosures and bank owned homes, Virtual Homes real estate agents provide home buying services for foreclosed real estate in surrounding communities. Please call 800-856-2479 for information.

Reviewed Salem MA foreclosures and the search tools are exceptional. Map based search and a service that provides new foreclosure listings as they are listed.

Newton MA Short Sales - How to Buy Pre-Foreclosure Real Estate

2010-08-14T14:02:00.001-07:00

Newton MA Short Sales - How to Buy Pre-Foreclosure Real Estate
50
rate or flag this page http://hubpages.com/t/1816e3">Tweet this
By fdoleac

Newton MA

A Short Sale is Not You're Typical Real Estate Transaction

If you are buying a home and want the best "deal" in the purchase of real estate a “short sale" may be your best option. Buying a Newton MA short sale is a difficult and often a frustrating process. To have success, hire experienced professionals that understand all aspects of the transaction. Expert advice can be provided by real estate agents, attorneys, mortgage brokers or bankers and home inspectors.

What is a Short Sale?

Homeowners that have financial difficulties may pursue a short sale prior to foreclosure. This process may be the best option to preserve their credit and limit their debt exposure. In MA, the laws governing foreclosures provide incentives for lenders to work with homeowners that can no longer afford their homes. The foreclosure process takes time and money and may prove to be more costly to the lender.

Under the Home Affordable Alternatives Program (HAFA) offered in 2010 by the Treasury Department, lenders and homeowners have additional incentives to consider a short sale. Homeowners have a choice to enter the HAFA program or attempt to negotiate with their lender outside the program. As a buyer, you may have more success purchasing a property that is in the program due to the streamlined process. Your real estate agent can determine which properties are in the program.

The Short Sale Process

The first step in the process is to negotiate a contract with the homeowner that would be subject to lender approval If the contract is not approved by the lender then the Seller may not have sufficient time to sell to another party and avoid foreclosure. The following tips will increase your chances of negotiating a successful Newton Massachusetts short sale transaction:

You Must be Credit Approved

Providing creditable evidence that you can purchase the property is absolutely necessary. The Seller is not likely to accept your offer without a valid credit approval as the lender will reject the contract. Obtain a credit approval from a reputable lender or if a cash buyer provide proof of funds. The contract must have only the standard and typical conditions of sale to obtain lender approval.

Finding Newton Listings That Qualify

Homeowners in financial distress typically have a limited amount of time to find a qualified buyer. If they have not connected with their lender(s) and started the process, there may not be sufficient time to affect a sale. As mentioned earlier, if the homeowner is in the HAFA program, they have already begun the process. Go to Newton MA foreclosures and register to receive new and current listings available in the MLS. As your Realtor, I can pre-qualify a listing on your behalf. Information I will obtain includes:

Is the seller's short sale package prepared for submission to the lender?

How many liens are on the property? If more than one, what are they? Is there a plan to satisfy all the lien-holders?

Don't take yourself out of the market for a property that has no chance of closing. Consider and evaluate all properties on the market and surrounding communities. Visit Newton MA real estate for community, demographic, school, relocation and home buying information.

Negotiating the Offer for a Newton Massachusetts Home

The first step is to negotiate a contract with the Seller and you will be competing against other contracts. Some real estate agents market the property substantially below market value to entice buyers. Others offer the property at the low end of fair market value. The terms and conditions of your offer can be as important as the offered price. Sellers and lenders prefer offers with fewer contingencies.

You’re Deposit - Sellers will not be likely to accept your offer with a low deposit. A buyer that has little to lose can easily pursue another property and “walk away”. To demonstrate good faith, offer the Seller a strong deposit.

Home Inspection - be prepared to invest the time and money in the home inspection prior to lender approval. A seller may not want to take the risk of allowing the inspection after lender approval. The buyer can easily "walk" from the home inspection and lenders normally will not approve them.

Flexible Closing Date – once the lender approves the offer, they may require a "quick" closing. You must be prepared to comply if you want to consummate the sale.

Subsequent Offers

The listing agent must submit all offers to the Seller up to closing. A contract with better terms and conditions may have a better chance of being approved by the lender. The lender will give the homeowner direction as to their policy submitting additional offers. In most cases, once the homeowner has an accepted offer, additional offers will be considered as a back-up contracts. Also, be prepared to lock your interest rate thru closing so that your mortgage commitment will be valid.

Lender Approval

Lenders have no set formula for determining the value of the property other than to substantiate values through due diligence. However, Freddie Mac (one of the largest secondary market lenders) has a value range of 88% of one or more broker price opinions (BOP). Have realistic expectations of the approval process as it may take between 30-180 days and market conditions can change.

If the lender and the Seller are participating in the HAFA program, these timelines will be streamlined for a quicker response. In fact, the Lender may have approved a listing price for the property and negotiate a contract as they would a bank owned property.

Virtual Homes Real Estate agents can assist you with Newton MA short sales, foreclosures and MLS listings currently on the market. We can represent you as a Buyer's agent which provides for a fiduciary responsibility to you to protect your interests as a client.

Real Estate in a Virtual World

Swanzey New Hampshire Short Sales
How to Buy a Swanzey New Hampshire Short Sale If you are buying a home and want the best "deal" in the purchase of Swanzey NH real estate you may consider a "short sale" as a viable option.... - 3 days ago

Dublin New Hampshire Real Estate and Homes for Sale
Dublin, New Hampshire Real Estate and Homes for Sale - All MLS Listings The Dublin NH real estate and home buying process can be complicated and you will benefit from the... - 5 days ago

Jaffrey NH Short Sales
How to Buy a Short Sale in Jaffrey, New Hampshire As a home buyer looking for value in the purchase of Jaffrey NH real estate you may consider a "short sale" as a viable option. The... - 5 days ago

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Newton Massachusetts short sale home buying process to obtain pre-foreclosure values

New Ipswich NH Homes for Sale

2010-08-10T23:07:00.001-07:00

New Ipswich NH Homes for Sale

From: Posterous [mailto:post@posterous.com]
Sent: Tuesday, August 10, 2010 9:05 PM
To: fred.doleac@virtualhomes.com
Subject: Posterous | Re: New Ipswich NH Homes for Sale

http://www.goarticles.com/cgi-bin/showa.cgi?C=3210921

New Ipswich NH Homes for Sale

2010-08-10T18:05:00.001-07:00

Fred Doleac

Broker/Owner

Virtual Homes

55 Ponemah Road

Amherst, NH 03031

603-732-1800 or 800-856-2479

603-732-1817 Direct

Fax toll free - 888-884-0543

Newmarket New Hampshire Homes for Sale : Virtual View - The New Real Estate Economy

2010-08-10T17:41:00.001-07:00

How to Buy a Home in Newmarket, New Hampshire

Purchasing a home can be a very stressful and confusing process especially if you are a first time buyer. It is advisable to utilize the services of real estate related professionals who can offer client level services to assist you in purchasing Newmarket homes for sale. These professionals’ include mortgage loan officers, Realtors, attorneys, home inspectors, accountants and financial advisers during the process of purchasing real estate.

Information regarding the home buying and selling process, demographics, commuting, school and relocation information can be found by visiting Newmarket NH real estate.

Financing

Most home buyers will finance the purchase of their home and there are numerous first-time home buyer financing programs offered by state agencies, local banks and national lenders. A common source for mortgage funding is the FHA (Federal Housing Administration). The major benefits of their programs include low down payment options (can be gifted by a family member), flexible qualifying, assumable mortgages, and rehab financing.

Why you should consider owning a home:

Solve a housing need.

Historically low interest rates.

Lower Selling Prices – declining values in the past three years provide exceptional price offerings.

Tax benefits - current tax law favors owning a home over renting.

The Newmarket NH Home Search

Consumers in NH have the option of contracting with a real estate agent to represent them in "buyer agency" and this is disclosed in a "mandatory disclosure form" required by state law. The agent has a fiduciary responsibility to represent the buyer's interests instead of the seller's. You should consult with interview two or three agents to determine their qualifications before signing an agency contract.

Your agent can assist you in your homes search for a property listed in the NH MLS Newmarket Homes for Sale (Multiple Listing Service) and homes sold by their owners (FSBO). Most property for sale, including Newmarket foreclosures and bank owned homes, are listed in the MLS.

Home Inspection

Once you have found the property and successfully negotiated a purchase and sales agreement, you should consider contracting for a home inspection. This process will give you more detailed information about the overall condition of the home prior to purchase. In a home inspection, a qualified inspector takes an in-depth, unbiased look at your potential new home to evaluate the physical condition structure, construction, and mechanical systems; identify items that need to be repaired or replaced; and estimate the remaining useful life of the major systems, equipment, structure, and finishes.

Title Search and Closing

Your contract with the Seller stipulates that you will receive “clear title” to the property. Your attorney or Title Company will perform this service for a fee which is considered part of your closing costs. Prior to the actual closing, most buyers schedule a final walk-through with their agent to inspect the property. You can begin moving in once the closing papers have been signed and the final terms and conditions with the Seller have been met.

To assist you in finding a Newmarket NH home for sale, please contact Virtual Homes Real Estate.

Newmarket New Hampshire home buying resource with MLS search and tips on the process.

2009 Newmarket New Hampshire Homes and Condos Sold Report

2010-08-09T18:51:00.001-07:00

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Newmarket NH Homes and Condos Sold in 2009 which provides average sales prices and units sold.

Jaffrey NH Short Sales

2010-08-08T19:22:00.001-07:00

How to Buy a Short Sale in Jaffrey, New Hampshire

As a home buyer looking for value in the purchase of Jaffrey NH real estate you may consider a "short sale" as a viable option. The process of finding and buying a Jaffrey NH short sale is not a typical real estate transaction. To achieve your goal, hire experienced professionals that understand all aspects of the transaction. Expert advice can be provided by real estate agents, attorneys, mortgage brokers or bankers and home inspectors.

A Short Sale Defined

Homeowners that have financial hardships may pursue a short sale prior to foreclosure. This process may be a preferable option to preserve their credit and limit their debt exposure. In New Hampshire, the laws governing foreclosures provide incentives for lenders to work with homeowners that can no longer afford their homes. The foreclosure process takes time and money and may prove to be more costly to the lender. Under the Home Affordable Alternatives Program (HAFA) offered in 2010 by the Treasury Department, lenders and homeowners have additional incentives to consider a short sale.

The first step in the process is to negotiate a contract with the homeowner that must be approved by the lender. If the contract is not acceptable to the lender then the Seller may not have sufficient time to sell to another party and avoid foreclosure. Follow these guidelines to improve your chances of a buying and closing on a short sale listing:

Are You a Qualified Buyer?

Providing creditable evidence that you qualify to purchase the property is absolutely necessary. The Seller is not likely to accept your offer without a valid credit approval as the lender will not grant approval Get pre-approved from a reputable lender or if a cash buyer provide proof of funds. The approval must not contain conditions such as selling an existing property.

Finding Listings That Qualify

Sellers selling short typically have a time-line they must meet to avoid foreclosure. If they have not communicated with their lender(s) and started the process, it may not be possible to close before foreclosure. Preview available short sale and foreclosure listings at Jaffrey NH homes for sale. As your real estate agent, I can identify properties that you may consider. Information I will obtain includes:

Is the seller's short sale package prepared for submission to the lender?

How many liens are on the property? If more than one, what are they?

Is there a plan to satisfy all the lien-holders?

Don't take yourself out of the market for a property that has no chance of closing.

Negotiating the Offer

The first step is to have your offer accepted by the Seller and you will be competing against other contracts. Real estate agents often list the property at a low value to encourage multiple offers. Others offer the property at the bottom of fair market value. Price, terms and your qualifications will be the deciding factors for Seller acceptance. Sellers and lenders prefer "clean" contracts without contingencies.

Earnest Money - Sellers may be hesitant to accept your offer with a low deposit. Buyers can easily "walk away" from a contract with low deposits. If you are serious about buying the property offer the Seller a strong deposit.

Home Inspection - be prepared to invest the time and money in the home inspection prior to lender approval. A seller may not want to take the risk of allowing the inspection after lender approval. The buyer can easily "walk" from the home inspection and lenders normally will not approve them.

Flexible Closing Date - once the lender approves the offer, they may require a "quick" closing. You must be prepared to meet their conditions if you want to consummate the sale.

Subsequent Offers - the listing agent must submit all offers to the Seller. A contract with a higher sales price may have a better chance at being approved by the lender. The lender will give the homeowner direction as to submitting additional offers. In addition, arrange for your lender to lock your interest rate for your mortgage so that you qualify whenever the closing is required.

Lender Approval

Lenders have no set formula for determining the value of the property other than to substantiate values through due diligence. However, Freddie Mac (one of the largest secondary market lenders) has a target sales price of 88% of one or more broker price opinions (BOP). Have realistic expectations of the approval process as it may take between 30-180 days and property values can change. If the lender and the Seller are participating in the HAFA program, these timelines will be streamlined for a quicker response.

Virtual Homes Real Estate agents can assist you with Jaffrey NH short sales, foreclosures and MLS listings currently on the market. Please call us at 800-856-2479.

Jaffrey NH real estate resource for short sales, foreclosures and bank owned homes for sale.

Real Estate in a Virtual World.: Dublin New Hampshire Real Estate and Homes for Sale

2010-08-08T19:11:00.001-07:00

Dublin, New Hampshire Real Estate and Homes for Sale - All MLS Listings

The Dublin NH real estate and home buying process can be complicated and you will benefit from the guidance of industry professionals. A real estate buyer's agent, mortgage lender and an attorney are the primary advisers in the purchase of Dublin NH homes for sale. If you are a first-time home buyer you may qualify for special financing programs.

Start your search be determining your price range, housing needs and lifestyle you desire. Dublin NH real estate site helps you in finding the right property to meet your needs from local area homes for sale, foreclosure listings (bank-owned), country properties, land, condominiums and equine facilities -- all through the NH Multiple Listing Service (MLS). Request relocation, school and demographic information. Visit Dublin NH foreclosures for a list of foreclosed and bank owned property.

The New Hampshire home search is easy with "quick search" options to search for NH real estate. Let us assist you in finding the property that meets your needs. Virtual Homes real estate agents can assist you in your search for the perfect home (800) 856-2479. You may also visit Dublin NH MLS homes for sale to access the New Hampshire MLS system for a map based view of all listings.

New Hampshire Foreclosures and Bank Owned Homes - Register to receive NH foreclosure (bank-owned) listings and short sale opportunities.

NH Home Search Service- Home search is a web-based real estate software tool (MLSpulse) that keeps you continually informed of your local real estate market.

Virtual Homes real estate provides access Dublin NH real estate and homes for sale, as well as relocation and town information in New England states.

Dublin New Hampshire real estate resource with tools and information to find homes, condos, land, short sales, foreclosures and search all MLS listings.

Fitzwilliam NH Short Sales

2010-08-08T09:04:00.001-07:00

How to Buy a Fitzwilliam New Hampshire Short Sale

If you are buying a home and want the best "deal" in the purchase of Fitzwilliam NH real estate you may consider a "short sale" as a viable option. The process of finding and buying a Fitzwilliam short sale is not a typical real estate transaction. To have success, you must work with qualified professionals and understand the process. Utilize the services of Realtors, attorneys, accountants, mortgage lenders and home inspectors as they all provide expert advice.

What is a Short Sale?

Homeowners in financial distress often consider various options, including a short sale, prior to foreclosure. This process may be a preferable option to preserve their credit and limit their debt exposure. In New Hampshire, the laws governing foreclosures provide incentives for lenders to work with homeowners that can no longer afford their homes. The foreclosure process takes time and money and may prove to be more costly to the lender. Under the Home Affordable Alternatives Program (HAFA) offered in 2010 by the Treasury Department, lenders and homeowners have additional incentives to consider a short sale.

The first step to a successful Fitzwilliam short sale transaction requires the negotiation of an acceptable contract with the Seller subject to lender approval with no guarantees that your offer will be approved. If the contract is not acceptable to the lender then the Seller may not have sufficient time to sell to another party and avoid foreclosure. Follow these guidelines to improve your chances of a buying and closing on a short sale listing:

You Must be Credit Approved

As a home buyer you must provide evidence that you qualify to purchase the property. The Seller is unable to accept your offer without a valid credit approval as the lender will not grant approval Get pre-approved from a reputable lender or if a cash buyer provide proof of funds. The approval must not contain conditions such as selling an existing property.

Finding Listings That Qualify

Homeowners in financial distress typically have a limited amount of time to find a qualified buyer. If they have not communicated with their lender(s) and started the process, it may not be possible to close before foreclosure. Review available foreclosures and short sales at Fitzwilliam NH homes for sale. As your Realtor, I can pre-qualify a listing on your behalf. Information I will obtain includes:

Has the homeowner compiled the necessary documents for the lender approval package?

Does the property have multiple liens? If more than one, what are they? Is there a plan to obtain releases from all the lien-holders?

If you pursue a property that is not "short sale ready" you may be restricted from buying other properties of interest.

Offer and Acceptance by the Seller

The first step is to have your offer accepted by the Seller and you will be competing against other contracts. Real estate agents often list the property at a low value to encourage multiple offers. Others price the property at the low end of fair market value. The terms and conditions of your offer can be as important as the offered price. Sellers and lenders prefer offers with fewer contingencies.

Earnest Money - Sellers may be hesitant to accept your offer with a low deposit. A buyer that has little to lose can easily pursue another property and "walk away". If you are serious about buying the property offer the Seller a strong deposit.

Home Inspection - be prepared to invest the time and money in the home inspection prior to lender approval. A seller may not want to take the risk of allowing the inspection after lender approval. If they do, they risk losing the buyer on the inspection issues and will not have time to sell the property prior to foreclosure.

Flexible Closing Date - Lenders often approve short sales with quick closings. You must be prepared to meet their conditions if you want to consummate the sale.

Subsequent Offers -As a rule, real estate agents must present all offers. A contract with better terms and conditions may have a better chance at being approved by the lender. The lender will give the homeowner direction as to submitting additional offers. Also, be prepared to lock your interest rate thru closing so that your mortgage commitment will be valid.

Lender Approval

Lenders have no set formula for determining the value of the property other than to substantiate values through due diligence. However, Freddie Mac (one of the largest secondary market lenders) has a value range of 88% of one or more broker price opinions (BOP). Have realistic expectations of the time-frame for approval as it may take between 30-180 days and market conditions can change. If the lender and the Seller are participating in the HAFA government program, these timelines will be streamlined for a quicker response.

Virtual Homes Real Estate agents can assist you with Fitzwilliam NH short sales, foreclosures and MLS listings currently on the market. Please call us at 800-856-2479.

How to find and buy Fitzwilliam NH short sales for pre-foreclosure values.

Rindge NH Real Estate and Homes for Sale - NH MLS Search

2010-08-08T08:46:00.001-07:00

Rindge, New Hampshire Real Estate and Homes for Sale - All MLS Listings

The Rindge NH real estate and home buying process can be complicated and you will benefit from the guidance of industry professionals. A real estate buyer's agent, mortgage lender and an attorney are the primary advisers in the purchase of Rindge NH homes for sale. If you are a first-time home buyer could be eligible for special financing programs.

Start your search be determining your price range, housing needs and lifestyle you desire. Rindge NH real estate site heps you in finding the right property to meet your needs from local area homes for sale, foreclosure listings (bank-owned), country properties, land, condominiums and equine facilities -- all through the NH Multiple Listing Service (MLS). Request relocation, school and demographic information. Visit Rindge NH foreclosures for a list of foreclosed and bank owned property.

The New Hampshire home search is easy with "quick search" options to search for NH real estate. Let us assist you in finding the property that meets your needs. Virtual Homes real estate agents can assist you in your search for the perfect home (800) 856-2479. You may also visit Rindge NH MLS homes for sale to access the New Hampshire MLS system for a map based view of all listings.

New Hampshire Foreclosures and Bank Owned Homes - Register to receive NH foreclosure (bank-owned) listings and short sale opportunities.

NH Home Search Service- Home search is a web-based real estate software tool (MLSpulse) that keeps you continually informed of your local real estate market.

Virtual Homes real estate provides access Rindge NH real estate and homes for sale, as well as relocation and town information in New England states.

Rindge New Hampshire real estate resource for all your real estate needs.

Dan Bernal Salem Realtor on HGTV House Hunter

2010-08-06T16:14:00.001-07:00

Please post

From: Posterous [mailto:post@posterous.com]
Sent: Friday, August 06, 2010 5:12 PM
To: fred.doleac@virtualhomes.com
Subject: Posterous | Re: Dan Bernal Salem Realtor on HGTV House Hunter

Dan Bernal Salem Realtor on HGTV House Hunter

2010-08-06T14:12:00.001-07:00

Fred Doleac

Broker/Owner

Virtual Homes

55 Ponemah Road

Amherst, NH 03031

603-732-1800 or 800-856-2479

603-732-1817 Direct

Fax toll free - 888-884-0543

Real Estate in a Virtual World.: Linda Ruppe, Top Producing Realtor Joins Virtual Homes

2010-08-05T18:02:00.001-07:00

Top New Hampshire virtual real estate office Virtual Homes grows regional prestige as Linda Ruppe, a top producing REALTOR® and former Keller Williams agent, joins the firm as a virtual affiliate.

Ruppe, who holds a degree from Sweet Briar College in Foreign Affairs/International Law, brings a wealth of real estate experience and energy to Virtual Homes and will help spearhead agent recruiting for her team in the Seacoast using the company's powerful real estate training and virtual affiliate model.

Fred Doleac, Owner/Broker of Virtual Homes Real Estate, a New England based independent broker licensed in Maine, New Hampshire, Massachusetts, Rhode Island and Connecticut, was impressed with Ruppe's credentials and resume as a top producer.

"Linda's track record and designations show a commitment to personal growth, attention to detail in real estate transactions, and bottom line performance. That's exactly the kind of professional attitude we want to have on board."

Doleac says Ruppe will be tasked with helping to develop a team of agents, coaching and mentoring them to become top producers themselves. Her designations include CDPE (Certified Distressed Properties Expert), EcoBroker, CRS (Council of Residential Specialists), GRI (Graduate REALTOR(r) Institute), CNHS (Certified New Homes Specialist), RCC (Residential Construction Certified), and ASP (Accredited Staging Professional). In addition, she is a member of the National Association of REALTORS® and Seacoast Board of REALTORS®.

Ruppe says she was drawn to Virtual Homes because of its innovation and focus on training through mobile workshops and webinars, but the real deal-maker was the company's expertise in providing cutting edge lead generation and real estate CRM (Customer Relationship Management) tools for agents.

"I was very impressed with Virtual Homes' focus on providing expert Internet lead generation tools and training for their agents. This is enormously valuable to agents wanting to reboot or expand their real estate careers."

She says most agents realize they need to focus on real estate lead generation, but don't have the online marketing expertise to do it. Virtual Homes, which is a marketing technology company turned real estate sales office, provides exactly that.

"Virtual Homes is an online marketing powerhouse. They've spent over a million dollars developing and refining state-of-the-art lead generation and follow-up techniques that really close deals for their real estate agents."

For more information, contact:

Linda Ruppe, REALTOR®
Licensed NH and ME
603-973-4394 Cell
603-905-9195 Direct

We are pleased to announce Linda Ruppe's affiliation with Virtual Homes Real Estate. As a top producing agent, formerly of Keller William, Linda brings a wealth of experience to our company.

Swanzey NH Foreclosures and Bank Owned Real Estate for Sale

2010-08-05T16:29:00.001-07:00

Swanzey New Hampshire Foreclosures, Short Sales and Bank Owned Homes for Sale

Purchasing property at a foreclosure auction has many risks to a potential buyer and in most cases the bank will bid and take possession of the property at the auction. The property is then referred to as bank owned, REO (real estate owned) or foreclosed property.

A home owner may attempt a "short sale" whereby the bank agrees to accept less than the mortgage balance based on the owner's hardship and financial status. Obtaining approval can be a long and difficult process. Additionally, there is no assurance that the lender will accept an offer at or above the listed price.

Register at Swanzey NH foreclosures (bank-owned) listings and short sale opportunities. We will contact you and provide:

A list of existing real estate foreclosure (bank-owned) and short sale listings.

Email alerts on NEW foreclosure (bank-owned) and short sale listings in the NH MLS.

Address and mapping information.

For community information including school reports, demographic, relocation, home buying and selling information go to Swanzey NH real estate. Swanzey NH condominiums will provide access and information about condos available for sale. For a map based view of active listings, go to Swanzey NH MLS map search.

Swanzey bank-owned and short sale listings are often marketed with a real estate agent and placed in the New Hampshire Multiple Listing Service (to ensure full market exposure). To search the NH MLS listings visit Swanzey NH MLS listings.

Virtual Homes real estate agents provide home buying and selling services. Please call 800-856-2479 end_of_the_skype_highlighting for information for assistance with Swanzey NH foreclosures and bank owned homes for sale.

Swanzey New Hampshire foreclosure resource for finding and buying short sales and bank owned real estate. Great search tools.

Real Estate in a Virtual World.: Hancock NH Real Estate and Homes for Sale - MLS Search Tools

2010-08-04T17:55:00.001-07:00

Hancock, New Hampshire Real Estate and Homes for Sale - All MLS Listings

The Hancock NH real estate and home buying process can be complicated and you will benefit from the guidance of industry professionals. A real estate buyer's agent, mortgage lender and an attorney are the primary advisers in the purchase of Hancock NH homes for sale. If you are a first-time home buyer you may qualify for special financing programs.

Start your search be determining your price range, housing needs and lifestyle you desire. Hancock NH real estate site heps you in finding the right property to meet your needs from local area homes for sale, foreclosure listings (bank-owned), country properties, land, condominiums and equine facilities -- all through the NH Multiple Listing Service (MLS). Request relocation, school and demographic information. Visit Hancock NH foreclosures for a list of foreclosed and bank owned property.

The New Hampshire home search is easy with "quick search" options to search for NH real estate. Let us assist you in finding the property that meets your needs. Virtual Homes real estate agents can assist you in your search for the perfect home (800) 856-2479. You may also visit Hancock NH MLS homes for sale to access the New Hampshire MLS system for a map based view of all listings.

New Hampshire Foreclosures and Bank Owned Homes - Register to receive NH foreclosure (bank-owned) listings and short sale opportunities.

NH Home Search Service- Home search is a web-based real estate software tool (MLSpulse) that keeps you continually informed of your local real estate market.

Virtual Homes real estate provides access Hancock NH real estate and homes for sale, as well as relocation and town information in New England states.

Your Hancock NH real estate resource provides NH MLS search tools to find homes, condos, land, short sales and foreclosures.

New Ipswich NH Foreclosed Homes and Bank Owned Real Estate for Sale

2010-08-04T05:49:00.001-07:00

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via goarticles.com

New Ipswich NH Short Sales

2010-08-04T05:27:00.001-07:00

If you are buying a home and want the best "deal" in the purchase of real estate you may consider a "short sale" as a viable option. Buying a New Ipswich NH short sale is a difficult and most often a frustrating process. To have success, hire experienced professionals that understand all aspects of the transaction. Expert advice can be provided by real estate agents, attorneys, mortgage brokers or bankers and home inspectors. Visit New Ipswich NH real estate to learn about the community, take a virtual tour, search the MLS and obtain school and demographic information.

Gardner MA Real Estate 2009 Market Report

2010-08-01T15:39:00.001-07:00

Gardner MA Real Estate 2009 Market Report
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By fdoleac

Single Family Homes Sold

Homes Sold

Single Family Homes

The Gardner MA real estate market report indicates that there were 122 homes sold in 2009 as compared to 109 in 2008. This represents a 12% increase in the number of homes sold. The average sales price changed from $169777 in 2008 to $152170 in 2009, a 10% decrease in value. The days on market changed -14 % from 187 to 161.

Gardner is in a remote area of Massachusetts and a long commute to the major employment centers. The job market and foreclosure rate has had a major impact on the market. The housing statistics represent a market dominated by the entry level. The low interest rates
and the tax credit incentives did stimulate the first time homebuyer market. All other segments of the market remained dormant and contributed to the decrease in average sales prices.

Single Family Homes Sales Price

Home Price

Condos Sold

Unit Price

Condominiums

The Gardner, MA condominium market data indicates that there were 16 condos sold in 2009 as compared to 19 in 2008. This represents a 16% decrease in the number of condos sold. The average sales price changed from $150077 in 2008 to $109008 in 2009, a 27% decrease in value. The days on market changed -66 % from 271 to 92.

The dramatic decrease in values is due to the foreclosure and short sale market which is prevalent in this market segment. Investors were buying at deep discounts and financing issues contributed to the lack of sales and lower prices.

Virtual Homes Real Estate compiled the Gardner MA real estate report for 2009 from data obtained from the MA MLS (MLSPin). The information is not guaranteed to be accurate.

Condo Average Selling Price

Unit Price

Real Estate in a Virtual World

3 Robinson Street Brentwood NH Listed by Linda Ruppe
Linda Ruppe is proud to offer a new listing at 3 Robinson Street, Brentwood NH. Located in "The Meadows" in Brentwood New Hampshire, this property offers so much for someone looking for a spacious... - 46 hours ago

Fitzwilliam NH Real Estate and Homes for Sale - NH MLS Search Tools
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Chesterfield NH Foreclosures and Bank Owned Homes for Sale
Chesterfield New Hampshire Foreclosures, Short Sales and Bank Owned Homes for Sale Purchasing property at a foreclosure auction has many risks to a potential buyer and in most cases the bank will... - 6 days ago

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Market Reports: Framingham MA 2009 Real Estate Activity

Gardner MA homes and condos sold analysis for average sales prices and units sold in 2009

Newmarket NH Condos for Sale

2010-07-31T20:28:00.001-07:00

Newmarket NH Condominium Buying Guide

If you are buying a Newmarket NH condo (condominium) as a primary residence or for investment, you should be aware of the legal, financing and lifestyle ramifications of this alternative type of “home ownership”. To assist you in evaluating Newmarket New Hampshire real estate and all types of homeownership visit Newmarket NH real estate.

What Is A Condominium?

A ”condominium” is a form of land ownership which typically consists of 2 or more units. The interiors of the units are individually owned (the paint in). Unit owners share joint ownership of common areas (grounds, hallways, pools, clubhouse, etc.). Areas that service a specific unit, while still held in common, may also be designated as the “exclusive right to use” of a specific unit. This typically will include balconies, patios, and assigned parking spaces. The master deed is a document that places the land into condominium status and details the ownership structure.

The cost to maintain these common areas and services are shared by the unit owners in the association. They pay a monthly fee which is typically determined based on an approved annual budget voted on by the condominium association.

New Hampshire Condominium Law

The primary statutes are the federal Land Sales Full Disclosure Act, the New Hampshire Land Sales Full Disclosure Act and New Hampshire RSA 356-C.

Any condominium of more than 10 units must register with, or formally be exempted by, the New Hampshire Attorney General. The registration (or exemption from the registration) must happen before the developer sells or offers for sale any units. This law also requires that the developer present all material facts about the property to potential buyers (a fact is “material” if it would influence the average person’s decision to buy the property).

Some projects must present a public offering statement to each buyer before or at the time of purchase. In addition, under the law buyers usually may cancel their purchase within five days after signing the purchase contract or five days after receiving the public offering statement whichever is later.

What Buyers Should Know

If you are thinking of buying a condominium unit, be sure to review:

Financing Options – Government financing options such as FHA, VA and USDA require that condominium projects maintain proper approvals otherwise buyers will not be able to finance with government insured loans.

Condominium Documents — Master Deed, Condominium Trust, By-laws, etc.

Rules & Regulations -

Financial Statements — annual and current budget

Monthly Association Fees – coverage, services.

Annual Meeting Minutes and Trustee Minutes (when available)

Special Assessments – capital improvements in excess of budget

Management and maintenance structure.

It is always recommended that you have the documents reviewed by your attorney. Your Buyer’s Agent should also be certain your offer to purchase is subject to the review of all condo documents.

Condominium Styles

Garden (flat) — Contains one-level of finished living space.

Townhouse — Contains two or more levels of finished living space.

Detached — Free-standing building (no other unit is located in that same building).

Duplex — Two attached units, sometimes referred to as “condex”. There may be several duplexes/condexes within a particular complex.

Low Rise Building – A building with primarily garden-style units and no more than 4 levels in the entire building.

Importance of Working with a REALTOR in Your Condo Purchase

Newmarket offers a variety of condominiums for home ownership and investment. To assist you in evaluating your options you should consider hiring a Buyer’s agent to represent your interests. NH real estate law requires agents to provide proper disclosure, statements of representation (by the Seller) and to offer client level services to consumers. This fiduciary relationship established with a Buyer agency contract will provide you with the representation you may want.

Virtual Homes real estate agents can provide additional details and educate you on everything that you need to know regarding your condo purchase, including information on co-ops and informal complexes such as converted multi-family buildings. Visit Newmarket homes for sale for a map based search site to find condos by town, neighborhood and location.

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Newmarket NH condos for sale resource for buying a condominium. Great tools for evaluating options.

Newmarket NH Homes for Sale

2010-07-30T18:47:00.001-07:00

Newmarket New Hampshire Homes for Sale – A Home Buyer’s Guide

Purchasing a home can be a very stressful and complicated process especially if you are a first time buyer. Enlisting the services of experienced real estate related professionals will provide you with the information and advice to make sound decisions in buying Newmarket homes for sale. Buyers often interview mortgage loan officers, Realtors, attorneys, home inspectors, accountants and financial advisors during the process of purchasing real estate.

Information regarding the home buying and selling process, demographics, commuting, school and relocation information can be found by visiting Newmarket NH real estate.

Financing

Most home buyers will obtain a mortgage to purchase their home and there are numerous first-time home buyer financing programs offered by state agencies, local banks and national lenders. A common source for mortgage funding is the FHA (Federal Housing Administration). The major benefits of their programs include low down payment options (can be gifted by a family member), flexible qualifying, assumable mortgages, and rehab financing.

Primary reasons to consider purchasing a home:

1. Solve a housing need.

2. Historically low interest rates.

3. Affordability – declining values in the past three years provide exceptional price offerings.

4. Tax benefits – current tax law favors owning a home over renting.

The Newmarket NH Home Search

Consumers in New Hampshire have the option of hiring a real estate agent to represent them in “buyer agency” and this is disclosed in a “mandatory disclosure form” required by state law. The agent has a fiduciary responsibility to represent the buyer’s interests instead of the seller’s. Interview two or three agents to determine their qualifications before signing an agency contract.

Your agent can assist you in searching for a property through the NH MLS Newmarket Homes for Sale (Multiple Listing Service) and homes sold by their owners (FSBO). Most property for sale, including Newmarket foreclosures and bank owned homes, is listed in the MLS.

Home Inspection

Once you have found the property and successfully negotiated a purchase and sales agreement, you should consider contracting for a home inspection. This will give you more detailed information about the overall condition of the home prior to purchase. In a home inspection, a qualified inspector takes an in-depth, unbiased look at your potential new home to evaluate the physical condition structure, construction, and mechanical systems; identify items that need to be repaired or replaced; and estimate the remaining useful life of the major systems, equipment, structure, and finishes.

Title and Closing

Title companies or attorneys will research the title to make sure both the lender and the buyer is protected and has “clear title” to the property. Prior to the actual closing, most buyers schedule a final walk-through with their agent to inspect the property. Once the closing is complete buyers can now occupy their new home.

Virtual Homes real estate agents will assist you finding a Newmarket NH home for sale that meets all of your real estate needs.

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Tagged as: home buying guide, new hampshire homes for sale, newmarket nh homes for sale, newmarket nh real estate

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A Newmarket NH homes for sale guide to the home buying process is a great resource to find, evaluate and purchase property.

Sherborn MA Real Estate 2009 Market Report

2010-07-30T12:40:00.001-07:00

Sherborn Massachusetts 2009 Real Estate Market Report for Homes and Condos Sold

Scituate MA Real Estate 2009 Market Report

2010-07-30T12:26:00.001-07:00

Scituate Massachusetts Real Estate Market Reports for 2009

Single Family Home Sales

The Scituate, MA real estate market report indicates that there were 156 homes sold in 2009 as compared to 185 in 2008. This represents a 16% decrease in the number of homes sold. The average sales price changed from $578902 in 2008 to $515917 in 2009, a 11% decrease in value. The days on market changed 11 % from 148 to 165.

Visit Scituate MA real estate for information about the community, relocation, demographics, MLS search, home buying and selling guides.

Go to Scituate MA homes for sale to view current listings of homes, condos, multi-family and land listings.

Condominium Sales

The Scituate, MA condominium market data indicates that there were 29 condos sold in 2009 as compared to 19 in 2008. This represents a 53% increase in the number of condos sold. The average sales price changed from $373974 in 2008 to $464603 in 2009, a 24% increase in value. The days on market changed 3 % from 248 to 255.

The Scituate MA real estate report was compiled by Virtual Homes Real Estate. The data was extracted from the MA MLS (MLSPin) and is not guaranteed to be accurate.

Scituate Massachusetts Real Estate Market Report for Homes and Condos Sold in 2009