Revamping our team, software, systems, and marketing! Get ready for our team to pump new life into the MA and RI real estate markets!
Exciting things are happening at Sankey Real Estate. As we gear up for a busy Spring season we are bringing on a new team structure, more marketing, better software and systems and we are looking to step up our volume in North Attleboro, Mansfield and all surrounding areas including Rhode Island.
We want to thank our past clients for their continued support as well as thank you in advance for any friend or family referrals you have that we may be able to assist.
We hope you are all having a wonderful first quater of 2017! Let's make the rest of the year outstanding!!
If you are looking to buy a home in MA or RI please fill out our BUYER'S FORM HERE.
If you are looking to sell a home in MA or RI please fill out our SELLER'S FORM HERE.
March 1, 2016
Boston Rent Cap and Eviction Law Public Hearing March 14th at 4:00
On March 14th, the Boston City Council will hold a public hearing on a move to cap rents and amend the eviction law in Boston. Members of the public are welcome to attend the meeting which will be held at Boston City Hall, 5th floor in the City Council Chamber at4:00 p.m (please note the hearing was originally scheduled for 2:00).
Current state law provides for "no-fault" evictions. The proposed law if approved by the City Council and the state legislature would fundamentally alter existing landlord tenant law and contractual relations in the City of Boston. Among the proposed changes are:
According to the Boston Globe the measure has the tentative support of Mayor Walsh. Members of the City Council also commented on the proposal in a recent edition of the Banker & Tradesman.
GBREB strongly opposes changes to the eviction law that will severely limit an owner’s ability to evict a tenant and alter existing landlord-tenant law by local option, undermining uniformity across the Commonwealth.
This review was submitted via Zillow. You can read all of our reviews from all over the internet on our Reviews and Recommendations page here: http://www.marealestatehelp.com/reviewsrecommendations.html
I love what I do and I love when my clients make money and love their home. Texts messages like this make my day. Thank you very much! I appreciate all of you, thank you for the continued support! ~ Robert Adams
Thank you very much for taking time out of your busy day to write such a wonderful review for us. Reviews help us generate new business and we are so appreciative of all of our clients that are kind enough to submit a review for us. We have the best clients! We appreciate you all and look forward to help you in the future. ~ The Adams Team at Sankey Real estate
If you would like The Adams Team at Sankey Real Estate to help navigate you through this ever changing market please fill out our Buyer's Form HERE or our Seller's Form HERE.
I would like to thank our wonderful clients that take time out to write these reviews. We appreciate it very much!
Read this and other Reviews here: http://www.marealestatehelp.com/reviewsrecommendations.html
READ THE FULL FORBES ARTICLE WRITTEN BY MARK GREENE: http://www.forbes.com/sites/markgreene/2014/12/09/3-down-conventional-loans-are-here-for-real/
3% Down Conventional Loans Are Here For Real
"Last week I shared that this was coming but that no announcement had been made. Well here it is, officially announced on Monday, 12/08/2014 and effectively online over the weekend of 12/13/2014;Fannie Mae will offer 97% LTV financing to help home buyers who would otherwise qualify for a mortgage but may not have the resources for a larger down payment.
I read the FannieMae press release and the official Selling Guide Announcement SEL-2014-15 to see if either was signed by Santa Claus, but they were not. First time homebuyers can now in fact put as little as 3% down and get conventional financing (no longer confined to the FHA only box). There are no prohibitive restrictions; in fact if two people are buying a home, only one of them need be a first time buyer. Standard FannieMae underwriting guidelines and standard PMI coverage and costs apply. This is a significant mortgage financing event and should bring more first time buyers into the active home buyers’ pool.
I would expect to see mortgage and real estate people waiving the 3% down payment banner in all of the parades and in all of the advertising media in the months to come. Up until now, the limited-down-payment-first-time-home-buyer market was sorely underserved primarily with HUD insured FHA financing as the primary option. As FHA mortgage insurance (MIP) costs have risen to dizzying heights in the last few years, consumers in this market segment stepped back to assemble more down payment and qualifying virtues to secure conventional financing. Expensive FHA upfront and monthly mortgage insurance made the economics of low down payment mortgage financing prohibitive.
Enter 3% down payment conventional mortgage financing and the landscape changes dramatically. Conventional financing does not handcuff borrowers to mortgage insurance forever like FHA MIP does. Once equity targets (20% – 22%) are reached, current appraisal supported value can eliminate conventional PMI (Private Mortgage Insurance). Not so with that FHA MIP, once you get it, the only way to get rid of it is to refinance out of the FHA loan or sell the house!
And let us not forget about that upfront FHA MIP insurance which is 1.75% of the loan amount added to the loan. So a $200,000 FHA loan would actually start at $203,500 ($3,500 for the upfront MIP). I did not make that up, go look it up for yourself!
By the way, conventional PMI (Private Mortgage Insurance) has no upfront PMI, never has.
If you were a first time homebuyer with a limited amount of money for a down payment, which would you choose?
I gotta’ think that the justification model for that ever increasing FHA MIP is getting a hard second look over at HUD. Or at least I certainly hope that it is, otherwise these new FannieMae enhancements will further erode already reduced FHA loan volume. With the MMI (Mutual Mortgage Insurance) Fund already running an unsustainable deficit, reduced FHA volume and the reduction in the attendant MIP will visit the kind of financial crisis upon HUD that may necessitate a dreaded bailout.
Historically, Commissioner Galante and her team respond with increasing FHA MIP to solve the MMI Fund deficit management issue. Not sure if that will help this time because all of those potential MIP contributors will be over at FannieMae making payments on their 3% down conventional loans."
READ THE FULL FORBES ARTICLE WRITTEN BY MARK GREENE: http://www.forbes.com/sites/markgreene/2014/12/09/3-down-conventional-loans-are-here-for-real/
If you want to see what you loan programs you qualify for please contact me directly and I can put you in contact with our lenders. They can run your entire financial scenario and explain all of your financing options. This is a free, no obligation service.
For all those FHA buyers out there that were hoping the FHA loan limits would be raised in 2015, you will be disappointed to hear that the FHA loan limit will remain $426,650 for Bristol County in 2015.
You can look up the FHA loan limits by County here:https://entp.hud.gov/idapp/html/hicostlook.cfm
If you need a loan for more than $426,650 you will need to use another type of loan.
If you want to know what your financing options are please contact me today and I can refer you to our lender. From there they will review your entire financial scenario and explain what loan options are available to you. If you would like to receive listings that match your buying criteria please start your free search here: http://www.marealestatehelp.com/buying-real-estate.html
We appreciate your business!
Paul Hagey with Inman News reported today that, "It’s official: Global media giant News Corp. now owns realtor.com operator Move Inc., with the $950 million deal closing today.News Corp. owns media outlets around the world including The Wall Street Journal, Barron’s, HarperCollins Publishers and London-based The Times. Those assets are expected to expand realtor.com’s reach in ways that haven’t been detailed yet."
I hope News Corp can get Move to wake up and get Realtor.com back to being the number one source for online real estate consumers. Move has done a HORRIBLE job so far and has let Zillow, Trulia, and Redfin become leaders of our industry over the past several years.
You can read his full article HERE
Looking to sell before the cold winter months? Contact me today to hear how our aggressive marketing plan can get you top dollar for your home in Massachusetts before the holiday season is upon us and buyer demand softens.
Our marketing team can get your property maximum exposure via our extensive marketing campaigns, and find you a qualified buyer. We have thousands of posts, forum threads, advertisements, and contributions to the top real estate websites as well as Rhode Island related websites. We have VIP status, Pro Accounts, Premier Agent status, and we are Top Contributors week after week. Our profiles are often in the Top 1% of all agents on these types of sites and our listings are placed in “featured” status above your competition as we have paid ads with these websites. We also add the listing to syndicating websites that will distribute your listing across hundreds of real estate related websites, we also use social media, and our diverse network of professionals that we have established over the years. We do not simply put your listing on the MLS and forget about you. We go above and beyond to make sure buyers can find your listing whether they are on the MLS or not.
Get your homes value for free here: http://www.marealestatehelp.com/selling-real-estate.html
If you would like to see all of our reviews please visit our Reviews and Recommendations page here:http://www.marealestatehelp.com/reviewsrecommendations.html
Conventional loan program changes! "...now allows borrowers that had a foreclosure included in a BK to buy after 4 years instead of waiting 7 years..."
I have received this email below from several lenders over the past few days explaining the NEW time requirements for buyers with previous short sales and foreclosures. As of August 16th you can not get conventional financing after only 4 years from your foreclosure if it was included in a BK. this is down from 7 years previously. That is the good news. The bad news is that buyers with previous short sales now have to wait 4 years instead of 2 years. So this change could help you or negatively impact you. Please call us today for more info.
Several people have reached out to me with questions regarding Fannie Mae's recent guideline changes. These changes affect borrowers that have had short sales and borrowers that had BK's with foreclosures involved.
As of August 16th, 2014 it might be harder to buy a new property after experiencing a short sale, assuming you plan on using conventional financing. The prior guideline allowed you obtain a Fannie Mae loan just two years after short selling your previous home even without extenuating circumstances as long as you had at least 20% down payment.
The new Fannie Mae guideline states:
There will be a standard four-year waiting period after short sale, with a two-year waiting period if you can prove extenuating circumstances.
*Freddie Mac has a standard four-year waiting period after short sale as well.
** FHA allows borrowers who have had short sales to get mortgages after just three years (without extenuating circumstances).
***Fannie Mae defines an extenuating circumstance as nonrecurring events that resulted in sudden/significant reductions in income, or a catastrophic increase in your financial obligations.
Call, Text, or Email as soon as you have mortgage questions and when your clients need to be Pre-Approved!
P.S. SILVER LINING That same guideline change now allows borrowers that had a foreclosure included in a BK to buy after 4 years instead of waiting 7 years. Let me know if you have buyers that may be in this situation."
The Adams Team is on fire! This is the 3rd review today and our 80th Review since we have starting requesting our clients to write them. We built a new page on our websites for all of our reviews. Check it out here: http://www.marealestatehelp.com/reviewsrecommendations.html
We look forward to reading YOUR review!
I just wanted to thank all of you that have endorsed me on LinkedIn in the past. I am almost at 99+ for all Top 10 Skills and 59 written Recommendations from you guys on my LinkedIn profile. THANK YOU! http://www.linkedin.com/pub/robert-adams-real-estate-broker-in-nv-ri-ma/2a/971/a93/
Zillow's Zestimates are known for their inaccurate quotes. The problem is zillow gets data fed to it by other sites like MLS, tax records, assessors, government sites, etc. However receiving second hand data causes a time delay in increased or decrease values if it calculates it at all. If a property never reflects that it sold on Zillow then the Zestimate will not calculate that new value.
The best way to get a homes value is to contact a few agents and have them prepare you a free Comparative Market Analysis (CMA). It is free and it will reflect the most recent sales. The agents can also look and see what properties are in contingent and pending status meaning they are in escrow. Often times the agent can contact those listing agents as well to find out a ballpark value as to where those properties will close. This helps predict which direction the neighborhood values are moving in.
I recommend using an agent to get you the homes value as well as if you want to do a home search. A ton of homes on Zillow and other similar sites are listed as available for sale but are not. In fact there are some that have close 6 months ago that are still listed as available. You can get set up on a direct feed from the MLS through your agent and they will send you homes that only match your criteria the second they become available. This data remains first hand data straight from the source and this data is up to date because agents will get fined by NAR if their data is left inaccurate. Zillow and other similar sites are not held to this standard.
Most consumers are unaware of all of these factors. To top it all off the seller pays the agents commissions so if you are a buyer you get professional representation and accurate/timely data for free (sorry seller's but you pay the fees).
I hope this is helpful.
Get you FREE Comparative Market Analysis (CMA) from Robert Adams at Sankey Real Estate HERE.
Posted JULY 25, 2014 by DAN GREEN READ THE FULL ARTICLE HERE:
"...Along with ultra-low FHA mortgage rates which rival those from Fannie Mae and Freddie Mac, FHA loans are attractive because they offer a minimum downpayment requirement of just 3.5 percent -- the lowest of all widely-available loan programs.And now, a new Federal Housing Administration program -- the Homeowners Armed with Knowledge program -- is expected to add to the program's allure.
Via FHA HAWK, first-time home buyers will get access to reduced mortgage insurance premiums (MIP) at closing and, after 18 months of payments, will earn an MIP reduction which lasts the life of their loan...."
If you need a reputable lender to explain all of your financing options, please shoot me an email and I will reply with the contact info of the lenders we work with all the time. they are very knowledgeable and honest. they can walk you through all of your financing options. I look forward to hearing from you!
According to BUYUSDA.com "USDA mortgages are the only no money down home purchase program available to borrowers who have not served in the military."
Here is a map showing highlighted ineligible USDA areas:
I received 2 emails from the CEO of Trulia and the CEO of Zillow as seen below. I have read that the merger is to be finalized in 2015, pending regulatory approval and the approval of the shareholders.
"The real story to me here is how did Move Inc (the operators of Realtor.com) fall asleep at the wheel and allow 2 third party websites that have a ton of inaccurate data surpass Realtor.com who has the most updated/accurate data. There were rumors of Trulia trying to acquire Move Inc prior to this Zillow/Trulia merger. The marketing team at Move Inc needs to step up their game if is not already too late." ~ Robert Adams
U.S. home sales stats have turned up sharply following the bleak winter numbers.
This week, we learned existing home sales rose at a stronger-than-expected pace in May while new home sales saw its biggest month-over-month increase in 22 years.
This has raised some chatter about a housing snapback.
But there is still one red flag: weak mortgage demand.
"Homebuilders likely are gaining market share from private sellers - builders are more motivated sellers, and have better access to information - but sales cannot trend higher indefinitely with mortgage demand still so weak," wrote Jana McTigue at Pantheon Macroeconomics.
Mortgage applications have been close to "rock-bottom levels," Ed Stansfield at Capital Economics wrote in a note earlier this month.
Stansfield also points out that while lenders have loosened their credit standards by a bit, they still expect borrowers to "have an above-average credit rating" and have "total debt payments on the mortgage and other loans" at 37% of income or less.
This chart from Shepherdson at Pantheon Macroeconomics shows the difference between existing home sales and mortgage applications:
And there's this interesting chart from Bank of America's Michelle Meyer that uses Google Trends to chart the search for "homes for sale" against the search for "mortgage calculator."
"Presumably after a person finds a property of interest, a natural next step would be to determine if it is affordable," writes Meyer. "We have not seen an increase in such searches. Perhaps this is because prospective buyers are discouraged by the lack of inventory or the asking price. Either way, it suggests that buyers are curious, but not committed at this point:"
Happy New Homeowners in Attleboro, MA! Looking for a new home for you and your family? Let me HELP you!
Congratulations to Ben and Ashley on their new home. You guys are the best clients! I wish you both many years of happiness to come in your new home!
I just received this update from the Greater Boston Real Estate Board:
"Delay to Boston Energy Mandate Approved by Council, Sent To Mayor Walsh for Consideration
On Wednesday April 30th the Boston City Council voted overwhelmingly to delay implementation of the energy mandate in Boston for one year. The lone dissenting vote was Councilor Matt O’Malley (D-Jamaica Plain). The bill will now be sent to Mayor Walsh for his consideration.
In 2013 the City of Boston approved a new mandate requiring owners with buildings over 35,000 gross square feet or 35 units to report and publicly disclose energy and water use. The law which captures condominiums, apartments and commercial buildings is being phased in over three years starting this year with first reporting deadline for commercial buildings May 15, 2014. Buildings could face fines up to $200 a day for non-compliance.
The 2013 law, introduced by Mayor Menino was part of his environmental blueprint. It was the first step in a plan that also called for labeling homes and requiring buildings to meet energy efficiency standards before they can be sold.
GBREB supports delaying the implementation of the new law in Boston to give owners more time to understand the new law and comply.
Other organizations who also testified in support of the delay were CAI, NAIOP, ICSC and the New Market Business Association.
Click here to see a copy of the committee report. "
I am in the Top 1% of all agents on Trulia.com, I have received VIP Level 2 recognition for my contributions to the site, I have a Pro Account, as well as 60+ reviews/recommendations, and my Profile is nearing the 10,000 mark for profile views. I just wanted to say THANK YOU to all the clients we have been able to represent in successful closings over the years.
Visit my Trulia Profile here: http://www.trulia.com/profile/robert-adams-broker-in-nv-amp-ma-broker-las-vegas-nv-1957580/
Most towns in Massachusetts are appreciating and feeling the strong buyer demand this Spring season. Is your property appreciating? Find out what your home is worth for FREE!
All Real Estate Agents are NOT the same. Watch this video about how to market your property to make sure you get maximum exposure and TOP DOLLAR for your home when you sell and how to get today's value of your home for FREE! (Most people are surprised when they hear how much their home is now worth after the last few years boom in appreciation).
*PLEASE NOTE: this video is a listing commercial for our sister site in Las Vegas but we do they same marketing campaign for our Massachusetts clients/listings.*
FOR A FREE COMPARATIVE MARKET ANALYSIS (CMA) CLICK HERE
Sankey Real Estate
PO Box 550 • North Attleboro, MA 02761
PO Box 550 • North Attleboro, MA 02761