In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.

Here are the top five reasons:

1. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:

• The buyer who wants the best deal possible
• The buyer’s agent who solely represents the best interest of the buyer
• The buyer’s attorney (in some parts of the country)
• The home inspection companies, which work for the buyer and will almost always find some problems with the house
• The appraiser if there is a question of value

Read the rest of this blog at this link:  5 Reasons Not to FSBO

According to the BMO Harris Bank Home Buying Report, 52% of Americans say they are likely to buy a home in the next five years. Americans surveyed for the report said that they would be willing to pay an average of $296,000 for a home and would average a 21% down payment. The report also included these revelations:

follow this link for the rest of the BLOG: Home Buying Next 5 Years

Restoration of the “American Legion Building” in Natick’s Historic District

Natick, a historic community just outside of Boston, is a popular place to call home for many reasons-- excellent schools, great shopping, a community organic farm, rich culture, and a prime location that is only a half hour from Boston. Downtown you will find an abundance of impressive red brick buildings, retail stores, restaurants, and beautiful broad streets. This is Natick’s burgeoning Historic District, another one of the many reasons why Natick consistently remains on the list of one of the best places to live!

Last month Stonegate Group- a real estate development company, announced plans to revitalize the former American Legion Building at 13 West Central Street, a landmark in the Historic District. This is exciting news for the community of Natick, as this once beautiful building has been vacant for the last several years. Stonegate Group’s restoration will involve maintaining the character & architecture of the building, including keeping and/or restoring the original facade and reconditioning the original brickwork. Within this development, Natick’s residents and visitors will enjoy restaurants, four retails spaces, underground parking, and eleven housing units. All of these additions will continue to add to the dynamic downtown area.

This project will not mark the end of the growth downtown Natick is experiencing by any means. The Natick Center Cultural District has been awarded a series of grants for 2016 and 2017 that aim to attract new artists and cultural ventures, and to continue to encourage new business developments. In a sense, this is a only the beginning of a growth expansion for our wonderful downtown of Natick, MA.

We will continue to keep you updated on the happenings in Natick! Visit our Blog and Facebook page for updates.

If you'd like information about Buying, Selling or Investing in Real Estate in the Natick, MA community, please give Team Lynch a call at 617-894-5278. You can also visit our website at www.teamlynchrealestate.com

Wellesley Real Estate Market Snapshot for the past year.  Email us directly for your home town snapshot, be it Natick, Needham, Weston, or any other town/city in the Metrowest Boston area.

On Friday November 6th it was announced that President Obama and Congress passed new legislation that extends the First-Time Home Buyer Tax Credit of up to $8,000 through April 30th of 2010.  The new legislation also expands the credit to grant a $6,500 credit to current home owners purchasing a new or existing home.  This is no doubt great news, and it’ll be interesting to see how this affects our local market.

The 2009 First Time Homebuyers Tax Credit has received a lot of recognition nationally, and even statewide in Massachusetts for spurring home buyers to get off the sidelines where many had retreated following the banking crises of last October.  NAR (The National Association of Realtors) estimates that the current tax credit has contributed $22 billion to the economy, and approximately 2 million people will take advantage of the tax credit this year.  While there's no denying the effectiveness of the 2009 credit, the effect on our local market was not nearly as significant due to income level restrictions of $75,000 (single filer) and $150,000 (joint filers).  In our local market where the average home prices range from approximately $500,000 in some surrounding towns to upwards of $1.1 million in Wellesley, this left many homebuyers phased out.

So what effect if any will the new legislation have on our local housing market?  There are two very important details to be aware of in the new bill.  One is that the income level has been raised from $75,000 to $125,000 for single buyers and from $150,000 to $225,000 for married couples.  While there is now a cap of $800,000 on the purchase price where there previously had not been, this should still open the door to many more potential buyers in our market.  The second new incentive in the agreement would allow current homeowners to claim up to $6,500 as long as the property they are vacating has been their primary residence for at least five years.  This is significant because it incorporates a large, entirely new profile of buyer, and for those who bought at the height of the market back in 2004 and 2005 and have seen the value of their home decline as the size of their family has grown (I'm speaking from experience here) it provides an incentive as well as some breathing room that could soften the blow of the declined property values.

For people who have been weighing the idea of purchasing a first home or moving from an existing home, now is a great opportunity to take advantage of low interest rates, declined property values, and a significant tax credit.  And this would be a great time to start familiarizing yourself with the local market and gaining that market knowledge.  Click here to sign up for our Free Email Alerts that will keep you informed of homes for sale that meet your search criteria.  Or contact us today at 617-894-5278.