Len and Leslie Marma | Marshfield Real Estate, Scituate Real Estate, Pembroke Real Estate


Receiving multiple offers on a residence is a home seller's dream come true. However, if a home seller faces a tight deadline to review several homebuying proposals simultaneously, making the right decision may prove to be exceedingly difficult.

Ultimately, evaluating multiple home offers at the same time can be quick and seamless – here are three tips to ensure that you can review various home offers and make an informed decision.

1. Consider the Homebuyer's Perspective

Although you probably won't be able to find out the identity of a homebuyer who submits an offer on your home, you may be able to learn about the homebuyer's perspective if you study a home offer closely.

For example, a homebuyer who wants to close on a residence as soon as possible may face a time crunch. And if this buyer has fallen in love with your home, he or she may do anything possible to acquire it.

On the other hand, a homebuyer who submits a lowball proposal may be looking for a bargain. Therefore, this home offer may fall far below your initial expectations, and you should not hesitate to decline or counter the proposal.

2. Analyze the Housing Market

Operating in a buyer's market or a seller's market may dictate how you proceed with multiple offers on your house.

If you've listed a house in a seller's market, the number of homebuyers likely exceeds the number of first-rate houses that are available. As such, you may want to accept a home offer in a seller's market only if it matches or exceeds your expectations.

Comparatively, if you're working in a buyer's market, there likely is an abundance of high-quality residences and a shortage of homebuyers. Thus, you may be more inclined to accept a home offer that nets you the biggest profit – even if the home offer falls shy of your initial home selling expectations.

3. Collaborate with a Real Estate Agent

If you're unsure about how to approach multiple offers on your home, it certainly pays to consult with a real estate agent. In fact, a real estate agent can help you examine various offers and decide which home offer – if any – is right for you.

By hiring a real estate agent, you'll gain an expert ally who will support you throughout the home selling journey.

Typically, a real estate agent will learn about your home selling goals and ensure you can set a competitive price for your residence. He or she also will host home showings and open houses, negotiate with homebuyers on your behalf and do everything possible to help you get the best price for your home, regardless of the real estate market's conditions.

Perhaps best of all, a real estate agent is prepared to respond to your home selling concerns and queries. And if you have questions about a home offer, your real estate agent is available to respond to your questions at any time.

Take the guesswork out of evaluating multiple offers on your home – use the aforementioned tips, and you can determine the best course of action based on the home offers at your disposal.


One to two guests visiting you at your home probably won’t cramp your rooms. However, depending on the size of your home, three or more visitors easily could. If you have young children, you could send them out of their bedrooms to sleep downstairs on the sofa. But, that may not work for many more years. Your guests also may not feel comfortable knowing that, because of their stay, your children had to give up their bedrooms. A few simple, temporary designs (these are easy to implement) could keep your children in their bedrooms and your guests comfortable. Pull out a sofa bed – This bed has a long tradition of meeting the extra sleeping space needed. Sofa beds come in leather, fabric, sectionals and three to four-seater styles. The range of colors is as broad as with a traditional sofa. A sectional adds seating and sleeping room. Pull the bed out at night; push it back in the morning. Add a daybed – Daybeds have improved over the years. They’re designed with storage drawers at their base. You could keep a daybed in your basement or attic. You could also keep a daybed on a screened in porch. Border the daybed with tall framed pictures or potted flowers when guests aren’t visiting to enjoy the furniture with your family. Get the rollaway bed out of the basement – Be especially kind to your guests if you opt to let them sleep on a rollaway bed, as these beds are not well padded. You may want to add a layer of foam beneath the mattress and the springs for added comfort. Give up your master bedroom – Add a sofa bed to your master bedroom for permanent design and temporary sleeping space for guests. If your guests are only going to be staying with you for a week or less, consider giving them your master bedroom, and you sleep on the sofa bed in the living room. Place bunk beds behind curtains or room dividers – This option offers privacy. Decorative privacy screens with a tri-fold design also work well. Another option is to place bunk beds behind sliding doors. When guests aren’t visiting, simply close the sliding doors. Make good use of your attic – Don’t forget your attic. Place a queen sized bed, dresser, mirror and chair in your attic and you have a full sized bedroom. Before you let guests stay in the attic, make sure that insulation is good, so your guests stay warm during winter and cool during summer. Hooray for the finished basement – You could add an office, bathroom and a full sized bedroom with a seating area in your finished basement, depending on how large the space is. Regardless of which options you choose, give your guests two pillows, fresh folded sheets and fresh towels to make them feel welcomed. Show your guests where stores, public transportation, restaurants, parks and bookstores are if your guests are going to be staying with you for an extended period. It’s a great way to help make them feel at home.

4 Curb Appeal Projects to Max Out Your Home’s Value https://www.houselogic.com/by-room/yard-patio/landscaping-home-value/#CurbAppeal #Lawn #Patio

www.houselogic.com, July 29th, 2017



300 Ocean St, Marshfield, MA 02050

Brant Rock

Single-Family

$599,000
Price

8
Rooms
4
Beds
2
Baths
A great location at the entrance to vibrant Brant Rock Village and all it's amenities. Only one house from the water and sandy beach, this updated 4 BR/2 Bth home features updated interior, many decks and fabulous ocean views. 3 floors of living space await the buyer looking for comfortable oceanside living. Move right in and vacation at home. BONUS: property is zoned for business (B-4) and enjoys exceptional visibility and traffic flow. Check table of use regulations for many professional and business services.
Open House
Sunday
July 30 at 12:00 PM to 2:00 PM
Come visit this 4/5 bedroom ocean side home in vibrant Brant Rock Village and only steps to the beach. Enjoy all that the Village has to offer..restaurants, shopping, beaches, marina, fishing, boating, etc. Property is also business zoned.
Cannot make the Open Houses?
Location: 300 Ocean St, Marshfield, MA 02050    Get Directions

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What happens if interest rate continues increasing

Several reports showed home prices continue to increase as affordability falls, however affordability will plummet even more next year.

The Federal Reserve plans to raise interest rates once more this year, and several times over the next couple of years. Currently, the 30-year fixed-rate mortgage hovers near 4%. A new report from Arch MI gives the scenario if interest rates increase to 5% or 6%.

The report shows the U.S. median existing home price is $246,000. The corresponding $1,200 monthly mortgage payment would require 25% of the median household’s $58,000 a year in pre-tax income.

However, if rates rise to 5%, the median debt-to-income increases 2% to 27% for the U.S. overall. In Texas, median DTI would increase from 21% to 23%, however California’s would increase from 46% to 50%.

If rates increase to 6%, the median DTI would increase to 31% for the U.S., 26% for Texas and 56% for California.

The chart below shows the decrease in affordability for the two scenarios.

Click to Enlarge

Affordability

(Source: Arch MI)

However, the report explains these increases, while drastic, are increasing from the current historical lows. From the report:

While large projected increases seem dramatic after a long period of mortgage rates hovering near historic lows, thankfully median DTIs are currently lower than their historical averages in most areas. For the United States overall, median DTI would just move up to the historical average since 1975. For median DTI to be similar to the “normal” years (1990 to 2004), rates need to be around 5.5%.

While home prices peaked in 2007, total housing costs peaked much before that in the 1980s when interest rates spiked to nearly 18%, the report explains. Housing costs hit a low in 2012 to 2013 as home prices and interest rates fell after the crash.

Since then, affordability worsened as home prices increased faster than incomes. But while interest rates will increase to an estimated 5% by the end of 2018 and 6% by the end of 2019, most economists expect home price growth will also slow to between 2% and 4% once rates begin to rise.

But while home price increases may slow, there is little chance of seeing them fall through 2018. The average probability that home prices will decrease in America’s largest 400 cities remains unusually low at 4%.

The map below shows the states that are most at risk of home prices dropping.

Click to Enlarge

Affordability

(Source: Arch MI)

The Arch MI Risk Index estimates the probability home prices will be lower in two years, times 100. The higher the Risk Index value, the more likely an area is to experience slower than normal economic and home price growth, and the more likely it is to see outright home price declines.




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