7 Reasons To Choose To Sell Your Home As A Short Sale Now

1. Help The Economy
While your own financial well being may be your first concern, short sales help to speed up the flow of the recovery and will mean a faster and more stable rebound that will in turn benefit your bank account in many ways.

2. Save Your Credit
Don’t think that just because you already have a number of missed mortgage payments and even late payments or charge-offs on credit cards that a foreclosure can’t make things worse. Your credit will be much better off if you choose a short sale and it will recover much faster.

3. Better Job & Income Prospects
A bankruptcy or foreclosure on your record could easily prevent you from being hired at all types of jobs, even from the military. It could also prevent you from getting a promotion or raise at work. This will keep you behind financially for many years to come.

4. Buy Yourself More Time To Move
While offering your home as a short sale isn’t a 100% guarantee, in many cases it will buy you months or even a year while trying to sell your home. This means being able to save money and make a more comfortable move for you and your family.

5. HAFA Relocation Assistance
Many homeowners who wisely opt to sell their homes as a short sale may qualify for HAFA relocation assistance in the form or cold hard cash, up to $3,000!

6. Buy A New Home Faster
Despite the recent fiasco, home ownership is still a smart move and the best way to go. By doing a short sale you can qualify to purchase a new home much faster than with other options, meaning getting a very attractive deal on a new one.

7. Start Fresh Now
Instead of just waiting it out, selling your home as a short sale now means that you can put this debt and stress behind you and get onto a fresh new start faster. Start rebuilding again, and feel a whole lot better…

Best Place To Buy A Home Near Marlborough, Mass.

Marlborough, Mass. has become one of the most sought after places to live in the state. It’s great location and popularity as a great place to raise kids has created a high demand for homes here. Though if you are looking for something a little more affordable or you just can’t find the right home for sale in Marlborough, where should you be looking?

Just to the west, about 10 miles away you will find Worcester. A slightly further commute for those heading into Boston regularly, but not by much. Here you will find great deals on homes for sale and are still able to enjoy plenty of both indoor and outdoor activities, which makes it a great choice for those with kids. Though young couples will also find it lots of fun, with no shortage of things to do and explore. Wherever you decide to buy a home in Worcester, MA you will discover that you are just minutes away from an array of restaurants, parks and more. Enjoy ice skating and skiing nearby as well as bowling, Frisbee golf, a range of incredible museums and a variety or other historic sights.

In comparison to Marlborough, MA where the median home price is now $195,000, with an average listing price of $278,193, you will find Worcester a little more affordable with the median home price at just $137,900 and the average listing price as $202,349.

Plus you will also find that Worcester is home to a number of great multifamily properties from just $75,000 which make great choices for first time home buyers as well as investors looking for cash flow rental properties.

It is also important to note that while Marlborough, MA homes has actually been rising in price dramatically due to the buzz around it in the media, Worcester has yet to see the residual effects of this kick in, meaning that the best deals can be found here now and that Worcester holds the potential for much bigger profits for investors who are shopping for real house bargains.

Best Place To Live In Massachusetts With Kids

For those looking to relocate to or within Massachusetts and who are looking for the best place to live with and raise kids, Marlboro, MA is a must to check out.

Marlborough, Massachusetts was ranked the best place to raise kids in the state in 2011 by Bloomberg Business Week. This recognition was largely made on the affordability and amount of children’s activities in the area. However, being nestled between Boston and Worcester, MA it is also a great choice for those working in the surrounding area and who want to get a little more for their money and live in a nice area.

Marlboro is also a good choice to live with kids in Massachusetts due to the great schooling and you will find that crime is incredibly low. In fact according to Trulia violent crime in the area is almost non-existent at 0.1% of residents affected, which is less than a quarter of the state average.

For those with kids, Marlborough, MA offers rich history and culture with many activities. You will find state parks for exploring the outdoors as well as the New England Aquarium, Cyberstation, a skate park, the Lazer Zone for an exciting game of indoor laser tag, and just a few miles you west you will discover great skiing.

When it comes to buying a home in Marlborough, Massachusetts you will find plenty of attractive opportunities. Homes here are definitely much more affordable than Boston with the median homes sales price at just $190,000. While the area has suffered much less from the foreclosure crisis than most of the country you will still find many amazing bargains with the average foreclosure sales price at just $97,288 according to $97,288.

For those who have been concerned about the state of the housing market, and have been concerned about whether it is the right time to buy you will find that homes in Marlborough, MA are actually appreciating quite healthily. Since last year home prices are up 5.6%, with the price per square foot up 8.8%. This is a trend likely to continue for the foreseeable future, but certainly means that those looking for the best deals need to act quickly.

Tougher Mortgage Lending Standards Still To Come?

If you have been holding out on buying a home Massachusetts in hope of mortgage lenders easing their guidelines, you may be waiting in vain.

A part of the proposed Dodd-Frank financial bill, the Qualified Residential Mortgage (QRM) rule threatens to make home loans a lot harder to get if passed as is.

The bill is meant to help protect the financial system from another crash by requiring more ‘skin in the game’ for mortgage lenders and by improving lending standards. However the QRM rule seems to have perhaps gone way too far in defining what it deems as a good loan, and is no doubt the result of over-zealous law makers that are out of touch with the affect this will have on the street.

The Qualified Residential Mortgage Rule not only calls for mortgage lenders to be tougher on credit when make loans for Massachusetts home owners but also on loan-to-values. The QRM rule defines a ‘Qualified Residential Mortgage’ as being 80% or less LTV for purchases, 75% or less for refinances and 70% or less LTV for cash-out refinances. So if you thought things were going to get easier, you could be dead wrong.

Clearly, if passed this rule could spell major problems and prevent many from buying a home in Massachusetts or refinancing. Fortunately the National Association of Realtors and others are standing up to fight this bill as it stands and others should make their opinions known to local members of Congress as well.

The bottom line is that it is a lot easier to finance a home purchase in Massachusetts than most people think. Massachusetts mortgage rates are at incredible lows, FHA financing allows minimal down payments and many who have gone through a short sale in the past few years may actually qualify to buy a new home in Massachusetts right now. Wait it out and test your luck if you like, but you may be kicking yourself really hard later on…

Multifamily Property In Worcester, MA A Top Pick for Investors

While new home sales have been up for the last 2 months in a row, values have actually risen in many neighborhoods and mortgage rates have actually dipped again many still continue to put of buying a home of their own. This is only making multifamily properties in areas like Worcester, MA even more attractive for real estate investors.

It is no longer a matter of individuals and families waiting for the bottom of the housing market or for homes to become more affordable. Many are just now doomed to renting due to damaged credit or have just fallen out of love with the idea of owning a home. Unfortunately many are just not educated enough to see the long term benefits of home ownership and will certainly be kicking themselves later. However in the mean time this provides many opportunities for real estate investors who buy up multifamily properties in Worcester, MA and other areas of the state.

A new generation of renters means long term tenants, a higher demand for your rental properties and in turn access to better quality tenants and the ability to charge higher rents. While there are definitely still many opportunities for flipping homes there has never been a better time for building portfolios of rentals that can produce large amounts of monthly cash flow and equity growth.

Buying multifamily properties in Worcester, MA is a great choice for both seasoned real estate investors and 1st time home buyers alike. For those buying their first home a multifamily property in Worcester can help offset your monthly mortgage payment by renting out the other unit or units.  While seasoned real estate investors know that multifamily properties can provide much higher returns on their investments and provide an extra cushion as they do not solely rely on the income from one unit.

Why Worcester, Massachusetts you may ask? Worcester currently offers great bargains on multifamily properties with many short sales and foreclosures available under $100k. Worcester, MA is a great place to live and raise kids. It boasts low crime rates, great schools, a love for sports and many excellent places to eat for foodies and good prospects for the job market with many major businesses here.

Buying Multifamily Properties In Worcester, MA

Buy A Home For Less Than $100 A Week!

Despite various news headlines and real estate experts weighing the pros and cons of the housing market, it is undeniable that you can now buy a home for less than ever before.

It is true that some areas of Massachusetts may still be seeing a number of foreclosures which are affecting home prices though in other neighborhoods in Massachusetts home sales and prices are rising. If you have been sitting on the fence trying to catch home prices right at the bottom, you have already probably missed it in many places. Plus waiting any longer could mean paying a lot more for the same home due to rising mortgage interest rates.

However the bottom line is that for most Massachusetts home buyers there has never been a more attractive time to buy a home. Just look at the numbers. Look at what you are paying in rent right now and of course factor in that your rent will likely be increasing around 5-10% per year. Then look at how much less you could be paying to actually own your own home in Massachusetts, while building up equity and creating an asset.

You will now find many homes in Massachusetts for less than $100,000. What does this actually mean in payments every month? Consider an average property in Worcester, MA going for $75,000. With just 3.5% down which comes out to be $2,625, not much more than it would cost you to move into another apartment you could be owning instead of renting. At today’s 30 year fixed mortgage rates of around 4.8% this would put your monthly principal and interest payment at just $379.73. That’s less than $100 per week!

MA Home Prices Ripe For Real Estate Investors

This week’s news headlines have been full of columnists complaining about the further decline of home prices over the last year. This certainly was not unexpected by anyone following the foreclosure crisis. The new wave of foreclosures was bound to have this affect. However, this is great news for real estate investors and is the anticipated precursor of the real rebound in the market.

The broader figures show continued declines around Massachusetts including Worcester which has seen home prices drop from their June 2006 highs of $237,000 to now at an average of $158k. Hudson and Marlborough, Massachusetts have also seen an overall 10 and 12% drop in home values respectively. However it is important to note that some neighborhoods are on the rise and that home values here are still tracking around $80,000 above the national average.

Homeowners who have ignored the advice to sell, are certainly feeling the pinch and frustrations of the market even more. Though for real estate investors this is an incredible opportunity to grab up some extremely appetizing real estate deals ahead of the anticipated rebound later this year and during 2012.

Worcester, MA  offers many great deals on multifamily properties that make great starter homes and rental properties. While areas like Marlborough have become highly sought after being highlighted in the news as one of the best places in the country to raise kids in. All areas offer great bargains for real estate investors, it is just a matter of what your real estate investing strategy is.