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NEW MASSACHUSETTS LAWS AFFECTING HOME OWNERSHIP |
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The "Declaration of Estate of Homestead", a
bill containing a series of important amendments to the Homestead Act
(Mass. General Laws, Chapter 188), was signed into law in December 2010
and goes into effect on March 16, 2011.
MAR - Bay State REALTOR News - March 2, 2011 |
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This fact sheet contains
important information for those who heat their homes with oil. By
September 30, 2011 your must upgrade your home heating system equipment.
Mass. DEP - Department of Environmental
Protection |
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MARKET
CONDITIONS
Different
economists offer different opinions on the state of the real estate
market and where it is expected to go in the near future. When analyzing
data, one of the things they all agree on is that real estate is “local”
and needs to be analyzed locally as regional differences can be
significant. For an update on the Cape Cod real estate market, reference
our market conditions page which is updated quarterly. For a look at
opinions affecting the nation, check out some of these: |
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A NATIONAL LOOK
The up tread in existing home sales continues, with January sales rising
for the third consecutive month with a pace that is now above year-ago
levels.
National Association of REALTORS
- February 23, 2011 |
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Median price continue
to come down to more affordable levels...We’re starting 2011 with
movement in a positive direction as buyers took advantage of the more
affordable pricing to push sales up in January.
Massachusetts Association of REALTORS -
February 22, 2011 |
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Massachusetts Pending Home Sales Down in February |
MAR reported today that the number of
single-family homes put under agreement in February was down 17.6
percent compared to the same time last year.
Massachusetts Association of REALTORS - March
2, 2011 |
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Foreclosures plunge 27% - biggest drop on record |
Is our long NATIONAL foreclosure nightmare ending? This gives a national
view broken down by regional. CNNMoney.com - Les
Christie, March 20, 2011
For Cape Cod (Barnstable County) foreclosure updates, visit
Cape
Cod Real Estate Market link on this website. |
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Buyers: Should you wait for the market bottom? |
The housing market will continue to adjust, forecasts say, and that
means opportunities for buyers. But waiting for the market bottom may
not be the smartest strategy. Here are 5 reasons to buy now... and 5
reasons you may want to wait.
MSN Real Estate - Melinda Fulmer |
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Six Signs It's Time To Buy |
If you're waiting for signs of a housing bottom, join the club. Nobody
blows a whistle and say, "It's time to buy!"
Realty Times - Blanche Evans |
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Questions and Answers on Home Foreclosure
and Debt Cancellation |
The Mortgage Forgiveness Debt Relief Act of
2007 enacted in 2007 has been extended through 2012. It generally allows taxpayers to exclude income from the discharge of
debt on their principal residence. Debt reduced through mortgage
restructuring, as well as mortgage debt forgiven in connection with a
foreclosure, qualify for this relief.
Internal Revenue Service |
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REMODELING AND
UPDATING TO SELL
Whether thinking
about updating and preparing a home to sell or considering
quality-of-life improvements to a home you plan to hold for a while,
consideration should always be given to return on investment. |
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2010-2011 Cost vs. Value Report |
Despite lower construction costs,
slumping home resale values pulled the cost-to-value ratio down to its
lowest level this decade. The good news is that this may be the bottom. Of course, if you are considering a remodeling project (large or small) on our beautiful sandbar, your best resource is a local builder. Contact Jared West at
RafterCraft LLC for reliable consultation services.
Remodeling Magazine - November 8, 2010 |
Remodeling Cost vs. Value
National Data |
This site compares the average cost in 2010-2011 for 35 popular
remodeling projects with the value those projects retain at resale.
Check out New England region for Cape Cod info.
Remodeling
Magazine online |
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Living
big in a Small Home |
After
year of upsizing, Americans are enjoying the benefits of more modest
living spaces.
REALTOR Magazine |
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REAL ESTATE AS AN
INVESTMENT
While everyone
would agree that a buyer’s market is the best time for a homeowner to
buy, what about investors? What about 2nd home owners? |
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Home Ownership Remain a Good Investment |
For all the doom and gloom about the housing market, it still generally pays to own a home.
Associated Press (MSN.com) - October
9, 2009 |
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How to Find Good Investment Property |
The idea of owning rental property seems to be gaining popularity as investors tire of the swoops and swoons of the stock market. If you're cut out for it, life as a landlord can be quite profitable. But success isn't assured. Here's what you need to know before diving in.
MSN Money - Liz Pulliam Weston |
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Swapping Vacation Homes in a Tax-deferred Exchange |
Until very recently, it was unclear
whether a vacation home -- even one you rent out a lot -- could qualify
for 1031 tax-deferred treatment. In an unexpected development, the
government recently handed us the recipe for how to arrange IRS-approved
Section 1031 exchanges.
Smart Money -
Bill Bischoff (May 2008 - author archive)
This is an incredible potential opportunity for vacation home owners to exchange one vacation property for another. Note that vacation home exchanges can be a challenge and strict guidelines apply. OF COURSE, CHECK WITH YOUR PERSONAL FINANCIAL ACCOUNTANT for updates on any changes and also to determine if it fits your personal financial situation. |
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REAL ESTATE NEWS,
TRENDS & TIPS
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CNN Money - Real Estate |
Real Estate News from across the nation.
Trends, and Tips. |
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Check back often for new articles of
interest. |
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Note that all information
on the websites linked above are deemed reliable but not guaranteed.
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4 Merchants Square, Suite 7
P.O. Box 1780
Sandwich, MA 02563
508-888-8999 x144
800-878-3722 (toll free)
Email: Shirley
Bahler
Website maintained and updated by Shirley (Enders) Bahler
All rights reserved.
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