Donna Coffin - ERA Key Realty Services - Distinctive Group



Posted by Donna Coffin on 12/6/2019

The definition of a "dream house" varies from homebuyer to homebuyer. Fortunately, there are many things you can do to determine if a residence is right for you.

Now, let's take a look at three tips to help you evaluate a home so you can decide whether to proceed with an offer to purchase.

1. Review a Home's Features

Think about why you are searching for a home and what you want to find in a house. For example, if you require a home that features a deluxe kitchen, you can narrow your house search accordingly. On the other hand, if you want a home that boasts an above-ground swimming pool, you can focus on houses that offer this amenity.

Consider where you want to reside too. That way, you can hone your home search to a select group of cities and towns and find a residence that is located in one of your preferred locations.

2. Examine a Home's Price

The cost of a home depends on a number of factors, including the residence's age and condition. Of course, the housing market itself plays an important role in a house's cost as well, so you'll want to examine the real estate sector closely. By doing so, you can differentiate a buyer's market from a seller's market Ė or vice-versa Ė and determine if a home's price falls within your budget.

In a buyer's market, there may be an abundance of quality houses available at budget-friendly prices. If you shop for a home in a buyer's market, you may be able to purchase a house at or below a seller's initial asking price.

Comparatively, in a seller's market, there is a shortage of premium houses, and top-notch homes that become available may be in high demand. In a seller's market, you may need to act fast to acquire your dream home. Plus, you may need to submit an offer to purchase that exceeds a seller's initial asking price so you can purchase your ideal residence without delay.

3. Consult with a Real Estate Agent

A real estate agent is a home selling expert, and he or she is happy to help you weigh the pros and cons of buying a house. In fact, a real estate agent will go the extra mile to ensure you can make the best-possible decisions throughout the property buying journey.

With a real estate agent at your side, you can receive lots of support so you can enjoy a seamless homebuying experience. A real estate agent first will learn about you and your homebuying goals and help you search for a residence that matches your expectations. Next, a real estate agent will help you craft a competitive offer to purchase your dream home. And if your homebuying proposal is approved, a real estate agent will help you finalize your house purchase.

Use the aforementioned tips, and you should have no trouble deciding if a house is right for you.




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Posted by Donna Coffin on 11/29/2019

If youíre a newer homeowner, odds are you donít really ďownĒ your home outright. Rather, you likely have equity in your home.

In this article, weíre going to talk about what home equity is, how to use it to your advantage, and things you should avoid using your home equity toward.

 What is home equity?

Unless youíre one of the lucky few who paid for their homes in cash, you probably took out a mortgage. As you pay off that mortgage you build equity.

Home equity is essentially the value of a property that a homeowner has at their disposal due to paying back part or all of their mortgage.

However, thereís another factor at play in home equity, and thatís market value.

Since the housing market fluctuates, the value of your home does as well, and as a result, your home equity changes with the market value of a house. That might sound worrying, but the good news is that due to something called appreciation.

In the same way that the cost of living tends to rise each year with inflation, so do housing prices. However, appreciation isnít the only factor at play in the valuation of your house. As your home ages, it will likely need some renovations, which could decrease the home value.

Generally speaking, however, your equity achieves a net gain as you pay your mortgage and the value appreciates.

Increasing equity

Now that we know why equity can be so beneficial as an asset, letís talk about ways to build it.

The best way to build home equity is to repay your home loan. However, more than simply repaying, youíll want to repay in the fewest number of years to avoid paying more in interest. The longer you take to pay your mortgage, the more interest accrues that could have been used toward other investments.

The second way to increase equity is one we mentioned before--market fluctuation--namely appreciation. To improve the chances of getting a high appraisal of your home, itís important to keep up with maintenance and make smart renovation choices that will have a high return on investment.

Using home equity

The best use of home equity is to leave it be and increase its value over time. However, that isnít always possible for all of us. Since many of us need to move before repaying our full mortgage, equity allows homebuyers to use their equity toward their next mortgage.

Another option is to take out a home equity loan or home equity line of credit. Ideally, youíll only use these loans if youíre planning on using the loan money to increase the value of the home via home improvement projects.

Borrowing against your home equity does come with risks. Since you are putting your share of your home on the line, there is a chance of your home being foreclosed on if you donít repay the home equity loan. However, lenders typically seek other methods of repayment or settlement before foreclosure.





Posted by Donna Coffin on 11/22/2019

If a seller is motivated and your offer is the only one that comes in on a home for sale, you may have an easy time getting the home of your dreams. If there are multiple offers on a property, itís a different story. 


If thereís competition, itís simple math that your odds in favor of you getting the home are reduced. You need something that will grab the sellerís attention. Writing an offer letter can be just what you need to sway the decision in your direction. Even if your offer is less than what other people have put on the table, an offer letter is a perfect way to get the attention of the seller.


What To Include


You may wonder what you should include in an offer letter. Youíre charming the sellers in a way, but also giving them an opportunity to get to know you. If someone has lived in a home that they have loved for a long time, theyíll be happier knowing the next occupants will be just as happy living on the property.


What Do You Like About The Property?


You should include a lot of positive things involving the property and your ability to care for and maintain it. Tell the seller about the features you most love about the house. You should let the seller know that they hard work they have done over the years has paid off and you appreciate it. Do you like the skylights? Does a remodeled kitchen get your attention? Is the deck a great feature for you to entertain on? Let the seller know any and everything that enticed you to put an offer on the property in the first place. 


Share Some Of Your Life


You donít have to get overly personal or mushy, but you should include a bit about yourself and why you chose this property among the many you have seen. Maybe you grew up in the neighborhood. Maybe the home is perfect for your expanding family. Whatever the reason is for you to want this particular house you need to let the seller know. 


In addition to personal details, you can include a pre-qualification letter, demonstrating your ability to afford the home. This helps sellers to feel comfortable with your financial background and continued upkeep of the property.  



What Not To Include


While your plans for a property may be grandiose in your mind, donít tell a seller what you plan to do with the proeprty in your offer letter. Itís nice that you want to update the kitchen, or re-do the bathrooms. Itís an insult of sorts to the seller so just omit these items. Keep your offer letter positive and brief and you may be well on your way to securing the property of your dreams.       




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Posted by Donna Coffin on 11/8/2019

Todayís home buyers see hundreds if not thousands of real estate photos when theyíre in the market. Odds are that theyíll eliminate a number of homes from their search before ever even setting foot in them.

As you can imagine, that makes your home listingís photographs all the more important to securing solid leads on your house.

In spite of the importance of photographs, a number of sellers get them wrong. To ensure that your home listingís photos make a great first impression, weíre going to take a look at some of the common mistakes to avoid in your listing photography.

1. Not taking enough photos

In the age of digital photography, you can never take too many pictures. Experiment with different lighting, setups, and angles, and donít be afraid to take as many photos as necessary to get the shots you want.

2. Going overboard with the uploads

It might be tempting to upload all of the pictures you took of your home, but it could hurt your overall presentation. Sort carefully through your pictures and pick one or two photos that best showcase each room and another one to three photos of the homeís exterior and land.

Visitors to your listing will get bored and click away if you have a slideshow with hundreds of images. Make it easy for them to find exactly what theyíre looking for by limiting the number of total photos of your home.

3. Avoid close-ups

Your home should be spotlessly clean and tidy when taking photos. However, that doesnít mean you need to get up close to each object in your home to take photos. Try to take wide shots that make your home feel spacious and welcoming.

4. Look out for mirrors and reflections and other distractions

If thereís one way to ruin an otherwise serene photo of your home, itís when you spot the photographer accidentally showing up in the shot. Plan your angles so that you donít get any flashes, glare, or reflections in your photographs.

And, while weíre on the topic of distractions, itís a good idea to take your pets out of the room before your start shooting. Remember, potential home buyers donít love your dog or cat like you do.

5. Donít settle with your first shots

The different (or lack) of lighting your home receives throughout the day can make or break your photos. Try taking photos of your home at midday, when there are the least amount of shadows. Then, shoot some photos at golden hour (just before the sun sets) to capture warm tones. Finally, right after dusk, turn the lights on in your home and take some shots from outside. These photos give the illusion of a warm, cozy place where the light is always on.





Posted by Donna Coffin on 11/7/2019

This Single-Family in Marlborough, MA recently sold for $300,000. This Raised Ranch,Split Entry style home was sold by Donna Coffin - ERA Key Realty Services - Distinctive Group.


41 Schofield Dr, Marlborough, MA 01752

Single-Family

$300,000
Price
$300,000
Sale Price

5
Rooms
3
Beds
1
Baths
Short Sale, Lender approval required. Bank is currently requesting list price, no room for negotiating. Easy to show. $5,000 non-negotiable mitigation fee. Schedule your showing now! Great opportunity to own or flip this perfect house in a wonderful neighborhood.






Categories: Sold Homes