Category Archives: first time home buyer seminar

Arlington MA Real Estate + Spring Market = Insanity!

Surely you have heard about Arlington’s limited inventory, good (but rising) interest rates, and how sellers are enjoying MP900305899multiple offers over asking price, with buyers waiving contingencies. This has been a crazy spring so far.
The effect is a rise in median sale price, and everyone’s value has gone up, whether they’ve done any improvements on their house or not.

What have houses been selling for?

In the first four months of 2014 there have been 60 sales of single family homes. The average list price was $653K and the average sale price was $665K. Average days on market was 30.
During the same time period in 2013 there were 53 sales, and the average list price was $567K and average sale price $574K. Average days on market was 51. That’s a 15% increase in one year.
One interesting example is 62 Oak Hill, a fully renovated cape w 1740 sqft, listed at $635K, sold for $700K ($65K over!)

Escalation Clauses

This is a new twist buyers are using to beat their competition. Saying “buyer will pay $X over the highest offer” has allowed some buyers to get offers accepted that otherwise wouldn’t. It has also caused extreme confusion when there were several offers using this. The jury is out on this tactic, as it can work well, or backfire.

What is a home worth?

Real estate is a commodity, the value of which fluctuates depending on supply and demand. Other factors like interest rates and public sentiment affect it as well. But ultimately a home is worth what a seller is willing too take, and a buyer is willing to pay. In a market with low inventory (in the case of Arlington the absorption rate is One Month for single family homes) competitive buyers drive the price up, and find new ways to be competitive, including waiving inspections and mortgage contingencies. I do have a concern for buyers getting excited about a home and taking on undue risk in order to get their offer accepted. Sellers are looking for the highest price and the least risk. It’s a shame that buyers are shouldering most or all of the risk in this market.

Seminars for First Time Home Buyers

Buyers who do a lot of reading on the internet and shopping for listings through Zillow and Trulia owe it to themselves to come in and get the hyper-local scoop on how to effectively buy a home in this competitive market, understand the process, the risks, the contracts, the professionals needed, and know what elements are essential to protecting yourself while getting your offer accepted. In this type of environment, more than ever, knowledge is power. Come in and get some soon! Seminars taught monthly, see the schedule here.

 

First Time Home Buyers: Learn and Earn Credit toward Closing Costs

First Time Home Buyers are still looking for solid advice and guidance, learning how to buy a home in Arlington MA or any surrounding area. All are invited to attend the March 30 First Time Home Buyer Seminar, presented by Dream Home Arlington and Wells Fargo Home Mortgage. Learn HOW to buy a home now!

  • When: Wednesday, March 30
  • Time: 7 – 8:30pm
  • Where: Bowes Real Estate Office – 1010 Mass Ave, Arlington
  • Cost: Free!

Packed with insider knowledge of home-buying, timely information about the local Arlington and Middlesex County real estate market, and financing guidance, this is a “how-to” persons dream come true. We’ll cover home-buying in a step by step process, from establishing your Arlington Dream Home criteria, through Financing and pre-approvals, to Open Houses, Offers, Inspections, and on to Closing Day.

Taught by Arlington’s finest First Time Home Buyer Specialists (Realtor and ABR Bija Satterlee from Bowes Real Estate) and Mike Tanionos (Senior Lender, Wells Fargo Home Mortgage), you will discover:

  • How to get a “good buy” on your first house or condo in Arlington or surrounding area
  • How to identify and find the house or condo of your dreams
  • How to get the best Financing and interest rate for your Arlington MA home purchase
  • How to get the advantages of having a dedicated Buyers Agent
  • How to make your Offer stand out from other Buyers, and more!

We have already seen plenty of buyers scouring the limited inventory of homes for sale in Arlington and surrounding areas like Lexington, Medford, Bemont and Cambridge. NOW is a great time to become a savvy buyer. Register for the March 30 First Time Home Buyer Seminar now. And the best part? It’s free!

Read Testimonials of some of our Seminar graduates!

email bsatterlee@bowesre.com to register for the Seminar. Seating limited, Register Today!

Don’t “Wing it” Buying Your First Home

FIRST TIME HOME BUYER SEMINAR – at Bowes GMAC in Arlington – Wed Feb 24   7-8:30pm  FREE!

Buying your first home is no time to take chances, go it alone, or wing it. Here is your opportunity to learn the process of buying from First Time Home Buyer experts in Arlington. Taught by Bija Satterlee (ABR, Realtor) and Michael Tanionos (senior lender with Well Fargo Home Mortgage), these Seminars cover the basics of financing, interest rates, credit scores, and programs for buyers with varying circumstances.

The process of buying a home begins with a self assessment. Get in on an exercise designed to help you define your criteria. From there we go through a sample home purchase, from Offer to Closing. We have found that buyers who attend these Seminars have a much smoother home buying experience than those who “wing it”!

Seating is limited – RSVP today to bija@dreamhomearlington.com

If you miss this one, see schedule of upcoming Seminars here: http://www.dreamhomelexington.com/seminars.php

First Time Home Buyer Seminar Jan 26, Arlington MA

First Time Home Buyers are still looking for solid advice and guidance, learning how to buy a home in Arlington MA or any surrounding area. All are invited to attend the January 26 First Time Home Buyer Seminar, presented by Dream Home Arlington and Wells Fargo Home Mortgage. Learn HOW to buy a home before you find your Dream Home!

  • When: Wednesday January 26
  • Time: 7 – 8:30pm
  • Where: Bowes GMAC Real Estate Office – 1010 Mass Ave, Arlington
  • Cost: Free!

Packed with insider knowledge of home-buying, timely information about the local Arlington and Middlesex County real estate market, and financing guidance, this is a “how-to” persons dream come true. We’ll cover home-buying in a step by step process, from establishing your Arlington Dream Home criteria, through Financing and pre-approvals, to Open Houses, Offers, Inspections, and on to Closing Day.

Taught by Arlington’s finest First Time Home Buyer Specialists (Realtor and ABR Bija Satterlee from Bowes GMAC Real Estate) and Mike Tanionos (Senior Lender, Wells Fargo Home Mortgage), you will discover:

  • How to get a “good buy” on your first house or condo in Arlington
  • How to identify and find the house or condo of your dreams
  • How to get the best Financing and interest rate for your Arlington MA home purchase
  • How to get the advantages of having a dedicated Buyers Agent
  • How to make your Offer stand out from other Buyers, and more!

We have already seen plenty of buyers scouring the limited inventory of homes for sale in Arlington and surrounding areas like Lexington, Medford, Bemont and Cambridge. NOW is a great time to become a savvy buyer. Register for the January 26 First Time Home Buyer Seminar now. And the best part? It’s free!

Read Testimonials of some of our Seminar graduates!

email bija@dreamhomearlington.com to register for the Seminar. Seating limited, Register Today!