New England Properties: Bobbie Files Realtor® Berkley, Greater Taunton Homes for Sale (Keller Williams Realty)

Is your homestead act still protecting you???

I received an email earlier today from a past client asking me if the homestead act they had filed when they purchased was still valid after they refinanced.

The answer is NO.

I have heard different attorneys give different answers to that questions, and I had 1 attorney once respond "That there are different schools of thought on this issue......".

The only school I want and am interested in is protection! Real estate agents and attorneys have always assumed that the exemption was subordinate to a pre-existing mortgage, but believed the Homestead otherwise remained valid when a new refinance mortgage was recorded after the Homestead.
However, in the case of a refinance the exemption is rendered null and void.

Essentially, as a homeowner, a Homestead Exemption is not valid after a refinancing unless you re-file it after the time of the refinancing, or otherwise reserve it at the time of refinance.

Another situation that could cause the un-intentional lapse in protection is death. Only 1 person in a marriage can declare the homestead (called the declarant) and it covers the spouse and the minor children. If the declarant passes away the homestead act is terminated. The surviving spouse needs to file a new homestead act in their name.

With all the refinancing that occurred several years back, and the unfortunate state of our economy it is very advisable that everyone makes sure their homestead act is still valid and protecting them and their home.

Bobbie Files, C.D.P.E.
Certified Distressed Property Expert
Your Bristol and Plymouth County Realtor®
508-238-5000 x.296 Office
508-521-9480 Direct / SMS
888-570-9907 Toll Free Direct Fax
bobbiefiles@kw.com Email

Visit my website at www.BerkleyMass.com

Visit my YouTube Channel at http://www.youtube.com/user/bobbiefiles

Join My Facebook Communityhttp://www.facebook.com/bobbiefiles.realtor

Search for Berkley Ma Homes at: http://BerkleyHomes.BerkleyMass.com

Search for Taunton Ma Homes at:http://TauntonHomes.BerkleyMass.com

For those struggling to pay your mortgage payments please visit:http://shortsales.berkleymass.com

Certified Distressed Property Expert

 

Lakeville MA Cape Style Home for Sale

Lakeville Custom Cape


Overview
Maps
Photos
Description
Neighborhood
Market Stats

























$279,900
Single Family Home
For Sale
Main Features
2 Bedrooms
1 Bathroom
Interior: 1279 sqft
Lot: 1.61 acre(s)
Location
173 County Street
Lakeville, MA 02347
USA

To get updates on open home dates and other property events, please click the "Like" button below:


Bobbie Files

Bobbie Files

Keller Williams Realty
(508) 521-9480
bobbiefiles@kw.com
http://www.BerkleyMass.com



Listed by: Bobbie Files - Keller Williams Realty
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Bobbie Files, C.D.P.E.
Certified Distressed Property Expert
Your Bristol and Plymouth County Realtor®
508-238-5000 x.296 Office
508-521-9480 Direct / SMS
888-570-9907 Toll Free Direct Fax
bobbiefiles@kw.com Email

Visit my website at www.BerkleyMass.com

Visit my YouTube Channel at http://www.youtube.com/user/bobbiefiles

Join My Facebook Communityhttp://www.facebook.com/bobbiefiles.realtor

Search for Berkley Ma Homes at: http://BerkleyHomes.BerkleyMass.com

Search for Taunton Ma Homes at:http://TauntonHomes.BerkleyMass.com

For those struggling to pay your mortgage payments please visit:http://shortsales.berkleymass.com

Certified Distressed Property Expert

 

Looks can be deceiving on this Lakeville custom cape

Lakeville Custom Cape


Overview
Maps
Photos
Description
Neighborhood
Market Stats

























$279,900
Single Family Home
For Sale
Main Features
2 Bedrooms
1 Bathroom
Interior: 1279 sqft
Lot: 1.61 acre(s)
Location
173 County Street
Lakeville, MA 02347
USA

To get updates on open home dates and other property events, please click the "Like" button below:


Bobbie Files

Bobbie Files

Keller Williams Realty
(508) 521-9480
bobbiefiles@kw.com
http://www.BerkleyMass.com



Listed by: Bobbie Files - Keller Williams Realty
Our recent listings
Subscribe to our listing feed
See more Lakeville, MA real estate for sale


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Bobbie Files, C.D.P.E.
Certified Distressed Property Expert
Your Bristol and Plymouth County Realtor®
508-238-5000 x.296 Office
508-521-9480 Direct / SMS
888-570-9907 Toll Free Direct Fax
bobbiefiles@kw.com Email

Visit my website at www.BerkleyMass.com

Visit my YouTube Channel at http://www.youtube.com/user/bobbiefiles

Join My Facebook Communityhttp://www.facebook.com/bobbiefiles.realtor

Search for Berkley Ma Homes at: http://BerkleyHomes.BerkleyMass.com

Search for Taunton Ma Homes at:http://TauntonHomes.BerkleyMass.com

For those struggling to pay your mortgage payments please visit:http://shortsales.berkleymass.com

Certified Distressed Property Expert

 

Searching for your new home????

THE ROAD MAP TO YOUR HOME!NARROWING THE SEARCH
"If you don't know where you're going ... you'll probably end up somewhere else."

Taken from a book title, this quote conveys a very simple message:
To achieve an objective, create a plan!

If you plan to buy a home soon, you will need to know "where you are going." For a most enjoyable home-buying experience, first build a road map to your new home, a list of priorities that will lead you to your objective-a new home!

The first priority is time frame.

Write down the date by which you would like to move in to your new home. Keep in mind that it may take 30-90 days (or more) to locate the right home, secure financing, and complete the home-buying process.

 The next priority is to develop a detailed description of the home you hope to find. You need to distinguish between "Need to Have" features and "Want to Have" features.  Be specific. Include home style (ranch, cape cod, colonial, split entry, etc..), number of bedrooms and baths, location, lot size, and other special requirements. Number your preferences in order of greatest importance to you. A written "Wish List" will make your home buying process easier on you and your agent.

This information will enable your real estate agent to narrow your home search. He or she will take this information and enter your requirements into the Multiple Listing Service (MLS) system, and then use personal market knowledge to come up with a list of homes that best meet your needs and wants.

Bobbie Files, C.D.P.E.
Certified Distressed Property Expert
Your Bristol and Plymouth County Realtor®
508-238-5000 x.296 Office
508-521-9480 Direct / SMS
888-570-9907 Toll Free Direct Fax
bobbiefiles@kw.com Email

Visit my website at www.BerkleyMass.com

Visit my YouTube Channel at http://www.youtube.com/user/bobbiefiles

Join My Facebook Communityhttp://www.facebook.com/bobbiefiles.realtor

Search for Berkley Ma Homes at: http://BerkleyHomes.BerkleyMass.com

Search for Taunton Ma Homes at:http://TauntonHomes.BerkleyMass.com

For those struggling to pay your mortgage payments please visit:http://shortsales.berkleymass.com

Certified Distressed Property Expert

 

Brockton MA Contemporary Home for Sale

The Brady Bunch could have lived here!


Overview
Maps
Photos
Description
Market Stats

























$194,000
Single Family Home
For Sale
Main Features
3 Bedrooms
2 Bathrooms
1 Unit
Interior: 2160 sqft
Lot: 16,553 sqft
Location
252 Sully Road
Brockton, MA 02302

To get updates on open home dates and other property events, please click the "Like" button below:


Bobbie Files

Bobbie Files

Keller Williams Realty
(508) 521-9480
bobbiefiles@kw.com
http://www.BerkleyMass.com



Listed by: Bobbie Files - Keller Williams Realty
Our recent listings
Subscribe to our listing feed
See more Brockton, MA real estate for sale


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Bobbie Files, C.D.P.E.
Certified Distressed Property Expert
Your Bristol and Plymouth County Realtor®
508-238-5000 x.296 Office
508-521-9480 Direct / SMS
888-570-9907 Toll Free Direct Fax
bobbiefiles@kw.com Email

Visit my website at www.BerkleyMass.com

Visit my YouTube Channel at http://www.youtube.com/user/bobbiefiles

Join My Facebook Communityhttp://www.facebook.com/bobbiefiles.realtor

Search for Berkley Ma Homes at: http://BerkleyHomes.BerkleyMass.com

Search for Taunton Ma Homes at:http://TauntonHomes.BerkleyMass.com

For those struggling to pay your mortgage payments please visit:http://shortsales.berkleymass.com

Certified Distressed Property Expert

 

Short Sale vs Foreclosure

ISSUE

FORECLOSURE

SUCCESSFUL SHORT SALE

Credit Score

Score  may be lowered anywhere from 250 to over 300 points. Typically will affect score for over 3 years             

Only late payments on mortgage will  show,and after sale, mortgage is normally reported as ‘paid as agreed', ‘paid as negotiated', or ‘settled'. This can lower the score as little as 50 points if all other payments are being made. A short sale's effect can be as brief as 12 to 18 months.

Credit History

Foreclosure will remain as a public record on a person's credit history for 10 years or more.

A Short Sale is not reported on a persons credit history. There is no specific reporting item for ‘short sale'. In most cases a loan is typically reported ‘paid in full, settled' or ‘paid as negotiated'.

Security Clearances

Foreclosure is the most challenging issue against  security clearance outside of a conviction of a serious misdemeanor or felony. If a client has a foreclosure and is a police officer, in the military, in the CIA, Security, or any other position that requires a security clearance in almost all cases clearance will be revoked andPosition will be terminated.

On its own, a short sale does not challenge most security clearances.3

Current Employment

Employers have the right and are actively checking the credit regularly of all employees who are in sensitive positions.  A foreclosure in many cases is ground for immediate reassignment or termination.

A short sale is not reported on a credit report and is therefore not a challenge to employment.4

Future Employment

Many employers are requiring credit checks on all job applicants. A foreclosure is one of the most detrimental credit items an applicant can have and in most cases will challenge employment.

A short sale is not reported on a credit report and is therefore not a challenge to employment.5

Deficiency Judgment

In 100% of foreclosures (except in those states where there is no deficiency) the bank has the right to pursue a deficiency judgment.

In some successful short sales it is possible to convince the lender to give up the right to pursuit a deficiency judgment against the homeowner.

Deficiency Judgment

(amount)

In a foreclosure the home will have to go through an REO process if it does not sell at auction. In most cases this will result in a lower sales price and longer time to sell in a declining market. This will result in a higher possible deficiency judgment.

In a properly managed short sale the home is sold at a price that should be close to market value and in almost all cases will be better than an REO sale resulting in a lower deficiency.

Bobbie Files, C.D.P.E.
Certified Distressed Property Expert
Your Bristol and Plymouth County Realtor®
508-238-5000 x.296 Office
508-521-9480 Direct / SMS
888-570-9907 Toll Free Direct Fax
bobbiefiles@kw.com Email

Visit my website at www.BerkleyMass.com

Visit my YouTube Channel at http://www.youtube.com/user/bobbiefiles

Join My Facebook Communityhttp://www.facebook.com/bobbiefiles.realtor

Search for Berkley Ma Homes at: http://BerkleyHomes.BerkleyMass.com

Search for Taunton Ma Homes at:http://TauntonHomes.BerkleyMass.com

For those struggling to pay your mortgage payments please visit:http://shortsales.berkleymass.com

Certified Distressed Property Expert

 

Third Quarter Market Report

Bristol County 3rd Quarter Market Report

 

 

 

Q2' 09

Q3' 09

 

 

 

 

 

Average Price

$269,200

$274,500

 

# Homes on the Market *

2,849

2,648

 

# Homes Sold **

747

886

 

# New Homes Built  ***

78

72

Avg # of Days on Market

118

112

 

See the entire report by pressing HERE

Market Indicators for the 4th Quarter of 09 are that the Number of New Homes and the Number of Homes on the Market is going to increase. Sale price and the number of homes sold is expected to remain stable.

 

According to the MLS records the 3rd Quarter had leveled out to be a neautral market. Not a Seller's Market BUT not a Buyer's Market either.  Homes that are priced accordingly are receiving multiple offers and are selling OVER asking price.

 

Bobbie Files
Your Bristol and Plymouth County Realtor

Visit my website at www.BerkleyMass.com

Search for Berkley Ma Homes at: http://BerkleyHomes.BerkleyMass.com

Search for Taunton Ma Homes at: http://TauntonHomes.BerkleyMass.com

 For those struggling to pay your mortgage payments please visit: http://shortsales.berkleymass.com

ARE YOU INTERESTED IN PURCHASING ONE OF THE INCREDIBLE FORECLOSURE BUYS ON THE MARKET???
VISIT -
http://JustForeclosures.BerkleyMass.com

Bobbie Files, C.D.P.E.
Certified Distressed Property Expert
Your Bristol and Plymouth County Realtor®
508-238-5000 x.296 Office
508-521-9480 Direct / SMS
888-570-9907 Toll Free Direct Fax
bobbiefiles@kw.com Email

Visit my website at www.BerkleyMass.com

Visit my YouTube Channel at http://www.youtube.com/user/bobbiefiles

Join My Facebook Communityhttp://www.facebook.com/bobbiefiles.realtor

Search for Berkley Ma Homes at: http://BerkleyHomes.BerkleyMass.com

Search for Taunton Ma Homes at:http://TauntonHomes.BerkleyMass.com

For those struggling to pay your mortgage payments please visit:http://shortsales.berkleymass.com

Certified Distressed Property Expert

 

Zillow by their own reporting is NOT an accurate source for property values

With all the information out there avaiable to home sellers and home buyers, finding and getting the right information becomes a challenge. 

Zillow is one of the most well known property valuation websites, but if you are using it to decide what to place your home on the market for or what the home you are looking to buy is worth you will getting inaccurate or irrelevant information. 

 

Zillow's Accuracy Chart

 

This is a portion of the Zillow Data Coverage and Zestimate Accuracy graph.  As you can see in Bristol County they are only within 5% of the sale price 24% of the time. That number is not good odds for either a seller or buyer to accurately price their home. In Plymouth County it goes down to 22%. 

 

Definitions

Zestimate Accuracy/Star Rating:
This rating is tied to the Median Error in an area.
The ratings are as follows:
  • Four Stars = Best Zestimate
  • Three Stars = Good Zestimate
  • Two Stars = Fair Zestimate
  • One Star = Tax assessor's value, or unable to compute Zestimate accuracy
  • 0 stars = No valuation
Tax Assessor's Value

Depending on the jurisdiction where you live, this value could be the tax assessed, tax appraised, or market assessed value. This value comes from the taxing authority of the city, county or state where you live; this is not Zillow's value.

Note: Tax assessor's values differ from Zillow's Zestimate, which is computed by entering numerous data points into a proprietary formula, often resulting in a more accurate value estimate.

 

Homes on Zillow:
This indicates the percentage of homes for which we have data (e.g., number of bedrooms or bathrooms) in a particular locale. These are the homes you can find via maps or search on Zillow.com.
Homes With Zestimates:
We can only calculate Zestimates for homes where we have certain data, including transactions. This column indicates the percentage of homes in an area with Zestimates.
Within 5% of Sale Price:
This is the percentage of transactions in a location for which the Zestimate was within 5% of the transaction price. For example, in the Portland area, 30% of the time the Zestimate was within 5% of the selling price.
Within 10% of Sale Price:
This is the percentage of transactions in a location for which the Zestimate was within 10% of the transaction price.
Within 20% of Sale Price:
This is the percentage of transactions in a location for which the Zestimate was within 20% of the transaction price.
Median Error:
Half of the Zestimates in an area were closer than the error percentage and half were farther off. For example, in Seattle, Zestimates for half of the homes are within 8.2% of the selling price, and half are off by more than 8.2%.

 

As you can see from the legend I pasted above they rate their own ability to be accurate.  In Plymouth County they gave themselves 2 Stars which is Fair accuracy. For easier understanding to me that is a D.  My son would have been grounded for months if he ever came home with a grade like that.  

 

If you are a home seller or home buyer and would like an accurate Market Report please contact me and I will give you a no obligation report on your home or a home you are looking to purchase.

 

Bobbie Files, C.D.P.E.
Certified Distressed Property Expert
Your Bristol and Plymouth County Realtor®
508-238-5000 x.296 Office
508-521-9480 Direct / SMS
888-570-9907 Toll Free Direct Fax
bobbiefiles@kw.com Email

Visit my website at www.BerkleyMass.com

Visit my YouTube Channel at http://www.youtube.com/user/bobbiefiles

Join My Facebook Communityhttp://www.facebook.com/bobbiefiles.realtor

Search for Berkley Ma Homes at: http://BerkleyHomes.BerkleyMass.com

Search for Taunton Ma Homes at:http://TauntonHomes.BerkleyMass.com

For those struggling to pay your mortgage payments please visit:http://shortsales.berkleymass.com

Certified Distressed Property Expert