Lawn Care for the Fall

As I sit here looking out my window, staring at my grass wondering why it does not look as good as my neighbors.  Well, its off to the computer to search-lawn care for the Fall.  And, here is what I found out.

1. Mowing- During the months of April-August, your lawnmower blades are in a higher cutting level.  In the Fall, they should be lowered, that way it helps the roots to strengthen. If the grass is not clipped short, it is at a higher risk of fungal disease.

2.  Aerate-The best time to do this is in Sept. and Oct. Aerating loosens up the soil allowing your lawn to absorb nutrients, air and water. You can aerate one of two ways either by “poking holes “in the lawn via a pitchfork or renting a machine that pulls out small plugs (this one is more efficient).  Either way it’s best to do 5-6 weeks before the first predicted frost.

3. Fertilizing- Best time to do is right after aerating.  Again, do right before the first predicted frost.  As for which product look for a weed and feed application, one that is high in potassium and phosphorus.  You may want to consider spreading lime to your lawn as well.

4. Grub Control- Grubs lay eggs in July and Aug. Apply a grub pesticide during the first few weeks of Sept.  If you have outdoor pets, or have neighbors that do, look for a product like Merit or Mach 2.  If you have a yard where there are no pets, then try Dylox.

Best of luck and I will let you know how I make out.

 

Mansfield,MA Sept.2010 Market Report

Sept 2010 Mansfield,MA Market Report  

 Mansfield,MA Sept Market Report

                                                        Sold                

• Total single family homes sold for the month of September= 9             
• Price range= $200,000-$550,000
• The average list price=$410,978
• The average sale price=$396,650
• The average time on market=140.11 days

UnderAgreement

• Total single family homes under agreement for the month of Sept=12
• Price range=$139,900-$599,900
• The average list price=$312,158
• The average time on market=49.17 days  pretty good

Active

• Total single family homes that were active in the month of Sept=77
• Price range=$135,000-$957,000
• The average list=$426,313
• The average time on market=157.3 days

Compared to Aug 2010 where there were 7 homes that were sold and 5  went underagreement. Things are starting to pick up here in the Mansfield, MA area.  If you need an agent, call Cheryl Cahill, Cross Real Estate, 508-369-3809, or at ccahillrealtor@hotmail.com

Sue’s Cleaners-Mansfield, MA

Opening up in Feb. 2010,  Sue’s Cleaners stands out amongst dry cleaners in the Mansfield area.  Why? She has gone “Green”.  Being in the dry cleaning business most of her life, Sue did not want to use the standard “perc” or petroleum (on the watch list for human carcinogens), so, she chose “GreenEarth” as her solvent.  What is GreenEarth? It is an environmentally safe dry cleaning process that uses liquid silicone, which is a solution made of silica or sand!  Sue also goes “green” through various programs that recycle materials used everyday, as well as reducing fuel costs to using biodegradable cleaning agents.  She is trying, as we all should, to limit our “footprint” on our environment.   

Mansfield, MA seems to be prospering with new stores and restaurants, such  as Sue’s Cleaners.  So, with all this booming business there are houses that need to be sold as well as bought.  For all your real estate questions, call me, Cheryl Cahill, Cross Real Estate, 508-369-3809 or at ccahillrealtor@hotmail.com

Rural Development

I just received an email from our Sr. loan officer, Joan Duggan of First Home Mortgage stating that RURAL HOUSING has run out of money at the 2% funding fee.  Why you ask, well, this program has doubled in size since the stimulus program, but, it seems to be their own victim,  thanks to the generous terms that have been offered to its  borrowers- namely no downpayment and no Mortgage Insurance premium.  Unlike the FHA requiring 3.5% down and  Mortgage Insurance premium.

 The programs are offered by local lenders and to be eligible you need to live in a community with less than 20,000 residents and live outside of a metropolitan area. 

 Now,  going forward if the Senate approves the refunding of Rural Development, the funding fee will be increasing to 3.5%!

If you have any questions about Rural Development or to see if your community is eligible-call me  Cheryl Cahill, Cross Real Estate, 508-369-3809. Servicing all of the Bristol County area.  For all your loan questions call Joan Duggan, Sr. loan officer, First Home Mortgage 781-561-5898

631 East St. UD202- Mansfield, MA

 

"Heron Crest"

This exquisite “Hemingway” is a 2 Bedroom, 2 Full Bath home set in the tranquil setting of “Heron Crest” in Mansfield, MA, is  a relaxed style of living for the active adult over 55.  An Open Floor plan boasts Brazilian Cherry Hardwood flooring throughout, Stainless Steel Kitchen with many spacious Cherry stained Cabinetry.  The Living Room has a Gas Fireplace, Cathedral Ceilings and a Balcony for relaxing in the afternoon sun.  The Dining Room has a Large Picture Window as well as Cathedral Ceilings.  The 2 Bedrooms have Crown Molding and the Master Bedroom has a Large Walk-in Closet and Private Bath.  All on One Floor.  A Must See!

Call Cheryl Cahill, Cross Real Estate, 508-369-3809 or at CCahillrealtor@hotmail.com

The Home Buyer Tax Credit will not be Extended

 

 

 Well from the looks of things the government has decided not to extend the Home Buyer Tax Credit. NAR , The National Association of Realtors, appears to have given up hope of getting it extended and posted this information on a website.

“NAR has had extensive discussions with congressional allies and concluded that an additional extension of the tax credit is unlikely. While lawmakers recognize that the tax credit helped stabilize the market, it appears that much of the benefit has been realized. NAR is now focusing on improving the availability of financing.”

That is not exactly what we want to hear, but at least they are coming up with new alternative ways to handle and speed up the short sales.  Congratulations to all of you who took advantage of  the tax credit and reaped  the benefits.

Cheryl Cahill is a member of The National Association of Realtors.

Call Cheryl with any questions, 508-369-3809, or at CCahillrealtor@hotmail.com

Mansfield,MA Real Estate Quarterly Report (Jan-Mar.31, 2010)

Please find the most recent Mansfield real estate stats. From the last quarter, there has been an increase of homes on the market, as well as an increase in the average price. Days on market has dropped and sellers are getting approximately 96% of their asking price. Things are starting to look up!
　
      Properties for Sale

                   Homes for Sale 55
                   Average list price $469,874
                   Price range $169,900-$999,999
                   Days on market 129

     Pending Sales

                 Currently under contract 10
                Average list price currently under contract $286,120
                Price range $149,900-$574,900
                Average days on market 65

     Sold Properties

               Number of homes sold 22
              Average sold price $369,425
              Average original asking price $383,395
              Average sold to original list price 96.3%
             Average days on market 99

If you or any of your family, friends or co-workers have any questions about the Mansfield,MA real estate market, call me: Cheryl Cahill, Cross Real Estate 508-369-3809 or at CCahilllrealtor@hotmail.com. Answering all your questions about Mansfield,MA

Private Mortgage Insurance

What is PMI?    It is a financial instrument that can be  used by homebuyers, usually first time homebuyers, when they have a down payment that is less than 20% required by the lenders.  With this type of  insurance,  it enables a homebuyer to by a home with as  little as 3-5% down.  So,  basically, it  is a safety net which  protects the lender from a loss if the homebuyer is to  default on the loan.

In order to understand the details of PMI it is important to understand the motivation of lenders.  Lenders are in a business to make money.  This insurance helps to protect them, not you.  The only thing you get will be a lighter purse, and that beautiful home that you could not have afford without PMI (because  you only had 3-5% to put down).

Lenders will typically provide you with all the information on PMI as well as secure it for you.  Homebuyers will need to continue to make PMI payments until they have reached the 80%  of the original selling price or the appraised value of your home at the time the loan was obtained.

The Homeowners Protection Act (HPA) was passed in 1998 and it contains a number of provisions to protect  the interests of the borrowers.  The main provision is the automatic termination of the policy, when the borrower pays down their mortgage to 78% of the value, if you are current on your loan-meaning that you have not been 30 days late with a payment.

If you would like more information on PMI and how it can help you get into that desired home, let me know and I can recommend to you a qualified lender.

Call Cheryl Cahill, Cross Real Estate, 508-369-3809 or at ccahillrealtor@hotmail.com

Extended Home Credit

As we all know, Congress passed legislation extending the home credit until April 30,2010.  So, what does this mean to the first time home buyer and the repeat buyer.

First time home buyer:

• First time home buyers purchasing homes between Nov.7,2009 and April 30,2010.  Does not need to close by April 30,2010, but needs to have a written binding contract to purchase by the  April 30th deadline.  Closing by July 1, 2010.
• Buyers can  not have owned a residence during the 3 years prior to the purchase. The purchase may include single-family homes, condos, townhomes, and co-ops.
• Maximum for first time home buyers is $8000.  This is based on 2 factors-the price of the home and the buyer’s income. The price is for homes purchased for $800,000. or less.  Income-single buyers with incomes up to $125,000. and those filing jointly with incomes up to $225,000.
• The tax credit will not have to be repaid if they own the home for 3 years or more.  But, if they sell the home within this 3 year window, then the full credit amount will be recouped on the sale. 

Current home owners:

• Credit up to $6500 if purchasing between Nov. 7, 2009 and April 30,2010.  Does not need to close by April 30,2010, but needs to have a written binding contract to purchase by the  April 30th deadline.  Closing by July 1, 2010.
• Would have used the home being sold or vacated as a primary residence for 5 consecutive years within the last 8 years.
• This is based on 2 factors-the price of the home and the buyer’s income. The price is for homes purchased for $800,000. or less.  Income-single buyers with incomes up to $125,000. and those filing jointly with incomes up to $225,000.
• The tax credit will not have to be repaid if they own the home for 3 years or more.  But, if they sell the home within this 3 year window, then the full credit amount will be recouped on the sale

If you are wondering what happens if the buyer’s income exceeds the credit limit, are they still eligible for the credit? The credit decreases for buyers who earn between $125,00-$145,000. for the single buyer and for those filing  jointly, it decreases with an income between $225,00-$245,000.  And, for those who make over $145,000 (single) and $245,000(jointly)-they are not eligible for the credit. For specific questions on how to file, please contact your tax professional.

For more information, call Cheryl Cahill, 508-369-3809 or at CCahillrealtor@hotmail.com .

What’s New with FHA?

As of Feb.1,2010, FHA announced that there are and will be several  changes made to help ensure its financial stability. FHA will no longer allow spot condos.  What this means is that unless your condo is on the  HUD  list,  they may not  be able to approve the loan.  And, if your condo is on the HUD list,  the project can not  have any  more that 30% FHA concentration.  I am told that there may be ways around this, but of course, they are expensive and require the  Homeowners Association of the condo or the builder to send the documents to FHA for their review and approval.

Also, FHA  will now require your borrower to get HO-6 Insurance.  What this is, is  that in cases where the master policy does not include interior unit coverage- including replacement of interior improvements and betterment coverage to insure improvements that the borrower may have made to the unit, the borrower must obtain a “walls-in” coverage policy (HO-6 policy) 

The FHA ‘s most notable change has been the increase in the up-front mortgage insurance premium from 1.75 to 2.25 percent. a Also, if the buyer needs a FICO score of 580 inorder to qualify for the 3.5% minimum down-borrowers with a score less than 580 will be required to put down at least 10%. And the last chanege has beedn a reduction in seller concessions from 6% to 3% of the mortgage amount.

Most of these changes are still in the best interest of the buyer, but are also in the best interest of FHA.  To view more information on the FHA changes and what may also lie ahead, please go to NAR’s web site. 

For all your mortgage questions, please call First Home Mortgage, Joan Duggan, mortgage specialist, at 781-561-5898.  For all questions call Cheryl Cahill, 508-369-3809 or at CCahillrealtor@hotmail.com.  I will answer all your questions.  I look forward in hearing from you.