Waterfront Realty Group



Posted by Waterfront Realty Group on 1/19/2020

Photo by Alexander Stein via Pixabay

If a home is in foreclosure, you can buy it for less. Great deal, right? It can be, but there are pitfalls, and you need even more caution than in a regular real estate transaction.

Stages of Foreclosure

Foreclosure can take months or even years depending on the regulations of the specific state, but the stages are the same:

  1. Pre-foreclosure. The owner has been given notice of pending foreclosure but for now still owns the home. In this case you negotiate with the owner.

  2. Bank-owner. The former owner has been evicted. If the bank doesn’t find a buyer the house will be put up for auction.

  3. Real-estate Owned (REO). The home did not sell at auction. A misleading name because the bank still owns it. And needs to get rid of it.

How do I find a Foreclosure?

If you haven't bought one before, your best bet is to work with a real estate agent who specializes in foreclosures. Some may have credentials: the Certified Distressed Property Expert (CDPE) or the Short Sales and Foreclosure Resource (SFR) designation. Foreclosures are listed on the same platforms as other homes, plus they may be found through banks, local city halls and courts.

Do I need cash?

Not necessarily. But if you'll use a mortgage, get it pre-approved. You’re likely to be competing with cash buyers.

What should I watch out for?

Many foreclosed properties are in poor shape. If they haven’t been inhabited, and maintenance has been neglected and air conditioning hasn’t been running, there could be mold, debris and internal damage. Distraught homeowners sometimes make off with appliances and the copper. There may be liens in addition to the defaulted mortgage. Get an inspection, have the title checked out and assume there’s going to be work to make it livable.

How much should I pay?

Your agent can run a comparative market analysis (CMA). You should pay significantly less than for an unencumbered property to make up for the risk. Professional foreclosure buyers sometimes use a formula of 80 percent of a comparable standard property less cost of known repairs. For example, a $300,000 house that needs $50,000 in repairs should be (80% * $300,000) – $50,000 or $190,000. A skilled agent can help you be competitive without putting yourself in a bind.

Is a foreclosed property right for me?

It will take more time and effort than a regular purchase but can save a pile of money. A DIYer or a person comfortable managing major rehab projects has a head start. If you have strong nerves, high risk tolerance and the ability to be flexible, a foreclosure might be the best deal you can make.





Posted by Waterfront Realty Group on 1/12/2020

Unfortunately, selling a house sometimes can be a long, complicated process. And if you're not careful, you risk costly, time-consuming mistakes that may prevent you from achieving your home selling goals.

When it comes to selling a house, it helps to plan ahead as much as possible. Lucky for you, we're here to teach you about the home selling journey and ensure you can enjoy a fast, seamless home selling experience.

Now, let's take a look at three tips to simplify the home selling process.

1. Boost Your House's Curb Appeal

The first impression that your home makes on potential buyers can have far-flung effects on the home selling journey. If your house dazzles homebuyers, you may increase the likelihood of a quick, profitable home selling experience. On the other hand, if your home misses the mark with buyers, you may struggle to stir up interest in your house.

Perform home exterior upgrades to enhance your house's appearance. Mow the lawn, trim the hedges and clear debris from any walkways. Also, repair any cracked or damaged siding to further bolster your house's appearance and ensure homebuyers will fall in love with your house as soon as they see it.

2. Eliminate Clutter

Clutter may dominate your home's interior, and if you don't clear it out, you risk missing out on opportunities to sell your house.

Fortunately, there are many ways to eliminate clutter. For example, a yard sale is a quick, effective way to sell assorted items before you list your residence. Or, you can list items online or donate them to charity.

If there are various items you want to keep, you may want to rent a storage unit. With a storage unit at your disposal, you can keep a wide range of items safe and outside your home until your residence sells.

3. Collaborate with a Real Estate Agent

A real estate agent is a housing market expert who is committed to helping home sellers achieve the optimal results. He or she will work with you throughout the home selling journey and ensure you can enjoy a successful home selling experience.

Usually, a real estate agent will meet with you, learn about your home and craft a personalized home selling strategy. This housing market professional then will promote your residence to buyers and host open house events and home showings. Furthermore, if a homebuyer makes an offer to purchase your house, a real estate agent will help you review this proposal and determine whether to accept, reject or counter it.

A real estate agent also will respond to your home selling concerns or questions. Thus, if you are uncertain about how to navigate the home selling journey, a real estate agent is ready to offer guidance.

There is no need to stress as you get ready to list your residence. Take advantage of the aforementioned tips, and you can eliminate the guesswork commonly associated with selling a house.




Categories: Uncategorized  


Posted by Waterfront Realty Group on 1/5/2020

As a first-time home seller, you may feel the need to make a counter-offer based on a homebuyer's initial proposal. However, if the homebuyer rejects your counter-offer, you may be forced to return to square one in your efforts to sell your house and obtain the best price for it.

A homebuyer's rejection of a counter-proposal is not the end of a home selling journey. And for home sellers who know how to proceed after a counter-proposal is rejected, they may be able to streamline the process of getting the optimal price for any residence, at any time.

Now, let's take a look at three tips that a first-time home seller can use to handle a rejected counter-proposal on his or her house.

1. Consider the Homebuyer's Perspective

Why did a homebuyer reject your counter-proposal? A first-time home seller should consider why a homebuyer decided to move on from a house after a counter-proposal was submitted and learn from the experience.

For example, if a home seller held firm on his or her home price, a homebuyer may have been unwilling to pay this amount. Thus, a home seller may want to consider lowering the price of his or her residence in to help stir up interest from large groups of potential homebuyers.

2. Review All of Your Options

A first-time home seller who submits a counter-proposal and receives a rejection from a homebuyer still has plenty of options, regardless of the current state of the housing market.

For instance, a home seller can keep the price of his or her house intact. Then, this home seller can await potential offers that match or exceed his or her expectations.

On the other hand, a home seller may choose to conduct assorted home improvements to upgrade his or her house's interior and exterior. These upgrades can make a world of difference in the eyes of homebuyers, and as a result, may make a home more attractive than other residences that are currently available.

3. Collaborate with a Real Estate Agent

A real estate agent is a difference-maker for a first-time home seller, and for good reason. This housing market professional can offer expert guidance that a home seller may struggle to obtain elsewhere and ensure that a property seller can make informed decisions at each stage of the home selling journey.

With a real estate agent at your side, you can map out your next steps in the home selling journey accordingly.

Typically, a real estate agent will be able to tell you why a homebuyer rejected a counter-proposal on your residence. As such, you can learn from the experience and gain the insights you need to prevent the same problem from happening once again.

Selling a home can be difficult, particularly for those who have listed a residence for the first time. A real estate agent will help you take the guesswork out of selling your residence and do everything possible to ensure you can get the best possible price for your house.

Ready to overcome a rejected counter-proposal on your home? Use these tips, and you can proceed with confidence along the home selling journey.




Categories: Uncategorized  


Posted by Waterfront Realty Group on 1/2/2020

This Condo in Winthrop, MA recently sold for $450,000. This 2/3 Family style home was sold by - Waterfront Realty Group.


118-120 Bowdoin St, Winthrop, MA 02152

Condo

$469,000
Price
$450,000
Sale Price

4
Rooms
2
Beds
1
Baths
Donít miss this 2018 construction condo in Winthrop, just minutes from Boston. This 1st-floor unit contains all of the important energy-efficient features that one could want: a Lochenvar, tankless water heater, energy-efficient Harvey Windows, Nest thermostat, Energy Star rated central A/C & heat, and more. The home has an open floor plan and the finest finishes throughout. The kitchen is equipped with granite counters, LG stainless steel appliances, & a large breakfast island. The bathroom has a large glass & marble shower and double vanity sinks. There are also two ideal bedrooms, one with a huge 13x5 walk-in closet. A large (100+sqft) laundry & storage area completes the interior of the condo. Off the living room, out the sliding glass door, is a private back deck, and TWO (2) deeded parking spaces. New upgrades include a home security system (video and motion sensors), custom blackout blinds, a new brick walkway, and more. Showings begin at the Open House on 11/10 from 11:30-1:00.

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Tags: Real Estate   condo   Winthrop   02152  
Categories: Sold Homes  


Posted by Waterfront Realty Group on 1/2/2020


265 North St, Duxbury, MA 02332

Single-Family

$929,000
Price

8
Rooms
4
Beds
2/2
Full/Half Baths
Celebrate the New Year in your new home! Set back on 1.3 acres this impeccable home features amazing outdoor and indoor spaces. Friends & family will be stunned by the rustic gourmet kitchen with a gorgeous center island and dining area with stone hearth fireplace. Enjoy sunny days sitting on the wrap around farmers porch or retreat to the great room with cathedral ceilings and custom barn doors. Complete with in-ground pool, cabana, fire pit, two separate decks and stone patio.This special home has it all with over 3900 Sq.Ft. of living space, spacious master suite with beautiful pine floors, two walk-in closets, & full bath.Three generous sized bedrooms & full bath, plus laundry room complete the second floor. Additional features include formal study,mudroom with built-ins, central air, irrigation system,plus two car garage. Partially finished walk-out lower level & half bath.This home is incredible and has so much to offer! Schedule a showing today!
Open House
Saturday
January 04 at 2:30 PM to 4:00 PM
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Location: 265 North St, Duxbury, MA 02332    Get Directions

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Categories: Open House