Kathy Foran - REALTY EXECUTIVES Boston West



Posted by Kathy Foran on 4/12/2015

When searching for a home you may want to first consider if you are looking to purchase a new or an existing home. This is a common questions that many home buyers  consider during the early stages of their home search. Some of the advantages home buyers cite as reasons to buy a brand-new house or condominium are: energy-efficiency, open layout, a warranty, the selection of appliances, flooring, paint colors and other design elements. There are advantages to purchasing both new and existing homes. The National Association of Home Builders(NAHB) has created a list of the advantages of buying a newly built home. New homes are often built in communities of new homes. When this happens all the neighbors are new to the neighborhood. This can help families form bonds of friendship that can last a lifetime. Newer homes offer more open floor plans making entertaining easier. New-home layouts often feature great rooms, higher ceilings and additional windows that bringing in more light than you would find in an older home. The appeal of owning something new can be a strong draw. Some buyers like the thought of being the first to cook a dinner in a brand-new kitchen. While others don't like the idea of having to repaint or update an older home. A new home allows a buyer to create their own home décor from the beginning. Newer homes are built for today's high-definition televisions, DVRs, computers and other electronic needs. New homes can be tailored to meet an individual home owner’s needs. There is little to no cost associated with home repair on a new home. Buyers pick the features, appliances and modern features to suit your needs.  When purchasing a new home it is truly built to the buyer's liking. Newly constructed homes are more energy efficient. They often include energy saving features such as double-pane windows, insulation and appliances which can reduce energy costs. Have you ever considered buying a newly constructed home, if so, why?





Posted by Kathy Foran on 1/18/2015

Housing prices are low, rates are low but how can you buy a house when your funds are also low?  How can you save money for a house while prices and rates are still good? Saving for a home can be different than just saving because you have save such a large amount of money and you don't know exactly how much you'll need.  Here are some strategies on how to save up: 1. Start with small goals. Try saving for closing costs or another smaller amount and then add another goal. Break the down payment into 3%, 5%, 10%, and 20% levels, to help make the savings goal more achievable. 2. Try saving a specific amount of money every month. Instead of saying I want to save $6,000 a year it is easier to say I will save $500 a month. Smaller, more achievable milestones are always good motivators to savings. 3. Ask for help. If people ask what to give you a gift for your wedding, birthday etc. ask them to contribute to your home savings plan. Online sites like SmartyPig make it easy to get other people involved in your savings goals. 4. Create a visual goal graphic. Create a vision board or some kind of graphic that represents what you are saving for. It always helps to see what you are saving for and have a constant reminder. Hopefully, you'll be on your way to a new home in no time.





Posted by Kathy Foran on 11/23/2014

Sometimes reading the description of a home for sale can be like trying to interpret a foreign language. Some of the information is pretty straightforward but often agents use acronyms or other abbreviations to describe a home and that can leave a potential buyer confused. Here are a few of some more common acronyms or abbreviations that you may see: A/C: Air conditioned                             ATT: Attached                                                                                                                                 BSMT: Basement                                                                                                                     C/Air: Central Air                                                                                                                     C/Vac: Central Vac                                                                                                                   CRNR: Corner                                                                                                                                       EIK: eat-in kitchen                                                                                                                             FROG: family room over the garage—extra space!                                                               HWF or HW: hardwood floors                                                                                                           LA: Living Area                                                                                                                                   MBR: Master Bedroom                                                                                                                     REF: Refrigerator                                                                                                                             SF or s/f: square feet or foot                                                                                                         SS: stainless steel (as in any kitchen appliance)                                                                       Vu: view(s)                                                                                                                                 WBFP: wood-burning fireplace                                                                                                 W/D: washer/dryer                                                                                                                     WIC: walk-in closet Can you think of any more acronyms?





Posted by Kathy Foran on 11/9/2014

Is it a seller's market? A buyer's market? Depends on the day and which media outlet you happen to be listening to. One thing is sure the market is changing. Here are some ways to know what kind of market it is: These are the signs of a buyer's market High inventory or more than six months of inventory currently on the market. Sale prices are higher than active listing prices. Lower closed sale numbers. Declining median sales prices. Higher DOM or days on the market. Here are some signs of a seller's market Low inventory or less than six months of inventory currently on the market. Sale prices are lower than active listing prices. Higher closed sale numbers. Increasing median sales prices. Lower DOM or days on the market. These are signs of a balanced market Three to six months of inventory is currently on the market. Sale prices are similar to active listing prices. Stable sales numbers. Flat median sales prices. Days active on the market are approximately 30 to 45 days. If you want to know how to figure out the months of inventory there is a simple way to do that. Take the total number of active listings and the total number of sold or closed transactions on the market last month. Divide the number of total listings by the number of total sales, which results in the number of months of inventory remaining. Then you can determine what type of market it is.





Posted by Kathy Foran on 6/8/2014

Whether you are a buyer or a seller it is time to get off the fence. Despite years of bad news surrounding the real estate market, the time has come when it is both a good time to be a buyer and a seller. Why Buy? Here are just a few reasons why you should get off the fence and buy: 1. When investors start gobbling up real estate you know it's a good deal. In 2011, investors upped their buying by 64%.  While it is still not time to start flipping for a profit the clock is ticking down to an uptick in prices. 2. Interest rates are historically low. You have been hearing this for a while but they are hovering right around 4%. 3. First-time buyers are in a unique position. They didn't lose money in the housing market. 4. It's a great deal! Prices are at all-time lows. So you may be saving as much as 40% off a home if you buy now. Why Sell? Here are just a few reasons why you should get off the fence and sell: 1. Inventory is shrinking. Demand is up and in certain areas and price ranges there is limited inventory so putting your home on the market now will most likely result in a sale. 2. Mortgage availability has stabilized. Mortgage restrictions are loosening and especially first-time buyers are able to get mortgages as they were not affected as much by the financial crisis. 3. Unemployment is not as bad as you think. One is 30 Americans is unemployed as a result of the recent financial crisis. There are lots of able buyers out there. 4. Houses are selling and some are even going to bidding wars. Homes that are priced according to the market are selling and selling quickly. 5. Don't wait for prices to increase. This could be a long wait.