Currently the Seekonk inventory has gone down to 67 Active homes on the market with an average Listing Price of $345,903.00. That’s a descent drop from our once saturated inventory of 97 homes that were once Active.

Seventeen homes are Under Agreement with an Average Listing Price of $241,594.00. The Average Days On The Market for these homes were 111.

In the past 30 days, twelve homes have SOLD. The Average Listing Price $236,538.00. The Average Selling Price $227,929 and the Average Days On The Market 244. It should be noted that one of these homes was on the market for a total of 1340 days and another one for only 5 days.

It is my opinion that the Seekonk market has begun to stabilize. The supply of homes have gone down while the demand has continued to grow.

To find out more information visit my websites: www.iSellSeekonk.com and www.SeekonkRealEstateNews.com.

The pay awarded to the top 70 executives at government-backed mortgage giants Fannie Mae and Freddie Mac are to be limited to $500,000 per year and their annual bonuses eliminated amid pressure from Congress to stop the big payouts, the Associated Press reports.

Critics denounced the pay received by executive at the government-controlled companies this fall after it was revealed that 12 executives got $35.4 million in salary and bonuses in 2009 and 2010, the report said. Fannie's chief executive, Michael J. Williams, received about $9.3 million for the two years, while Freddie's chief executive, Edward Haldeman Jr., was paid $7.8 million, according to the AP.

The pay structure will come into effect after Haldeman and Williams, who will each receive totalsalaries of $5.4 million in 2012, leave the company. Both have said they will step down within the next year.

The U.S. government stepped in to take control of Fannie and Freddie three years ago after they nearly collapsed because of large losses on risky mortgages. The move to save the two companies cost U.S. taxpayers about $170 billion -- the most expensive bailout of the 2008 financial crisis, the AP said.

I remember last year around this time writing about cabin fever. You remember that cold, blustering winter we had. Seemed like there was one snowstorm after another. Neighbors were busy shoveling their driveways, walkways, clearing off their vehicles and on occasion helping someone in need that may have gotten stuck in the snow. Temperatures were frigid. Families were tucked and snuggled in their homes waiting for some type of thaw to take place. 

Of course people still bought homes but old man winter made viewing a home less than enjoyable.

This year has been a complete turn around. With the seasonable mild temperatures and lack of any major snowstorms so far, the Spring Market is in full gear. The days are starting to get longer and one can feel the strength of the sun beaming on their body. And of course, next month is Spring!

www.SeekonkRealEstateNews.com 

What is interesting to note is the number of homes that are currently on the market. The inventory is down to 74. At one point we were close to 100. The current affordability along with the historic low interests rates has allowed many home buyers the opportunity to purchase a home in Seekonk.

We just might be seeing a bit of light at the end of the tunnel. Is the Seekonk Housing market beginning to make an upswing turn? Let me know your thoughts.

Also, as a side note, Seekonk is celebrating its 200th Bicentennial Year. There are a variety of special events scheduled to celebrate this mile stone. Check out Seekonk Patch for a list of these events.

For more information on Seekonk Real Estate goto www.SeekonkRealEstateNews.com ~www.iSellSeekonk.com.

After half a decade of withering sales and slumping prices, there are strong and diverse signs that the single-family housing market is poised for a rebound.

In some metropolitan areas, the market has bottomed, with both sales and prices on the rise and foreclosures on the decline.

This contrarian - and largely overlooked - thesis flies in the face of the persistent gloom that has nagged the industry since 2007, when the subprime crisis flared.

Industry analysts and players cite a number of reasons - some traditional (employment), others unique to the post-credit bubble era (foreclosures) Â - for the long-awaited sea change. An analysis of industry and government data also support the forecast.

"It has become increasingly apparent to us that the pieces for a housing rebound next year are beginning to fall into place," declared Barclays Capital analyst Stephen Kim in a recent note to investors.

Proponents admit that the nascent rebound could easily be derailed, but stress that after years of government efforts to support sales and prices as well as the volatile impact of foreclosures, the market has regained a measure of normalcy.

"With the exception of really hard-hit markets, the vast majority is ready to turn around," adds Jerry Howard, president and CEO of the National Association of Home Builders, NAHB. "The Washington, D.C., area is not only ripe for recovery, they need to start building units."

The iShares Dow Jones US Home Construction Index Fund (NYSE Arca: itb), for example, is up some 38 percent, while the S&P 500 is up about 21 percent.

Nevertheless, skeptics overwhelmingly outnumber the optimists, given the false-starts of previous years, the economy's sub-par performance, a new wave of distressed properties and the capacity for the European debt crisis to spook business, consumers and investors.

"I think it's premature," says Richard Smith, CEO of Realogy, the nation's largest real estate company, whose brands include Century 21, Coldwell Banker and Sotheby's International. "We see little indications here and there. Transaction volume is improving. Prices are still under pressure. This isn't going to be one of those spiked robust recoveries."

Smith is echoing the conventional industry calculus: that price increases follow sales growth amid consistently strengthening demand.

There's been little conventional, however, about this housing slump, which is one reason it's had so many false bottoms. Among its many firsts - housing starts fell through 1 million annual units, foreclosures topped 2 million in three consecutive years, and home prices declined on a national basis.

The catalysts to recovery are mostly the same: for potential buyers, residential rents have now risen enough to consider buying; existing-home inventory is the lowest in five years, while that of new homes is at a 40-year low; affordability is at a record high; delinquencies have peaked; consumer confidence is on the rise ; and job growth is accelerating.

For investors, with a continuation of the gold rally in question, real estate is beginning to look like a viable inflation hedge alternative, while rising rents mean greater profits.

That thinking may help explain why the iShares Dow Jones US Home Construction Index Fund (NYSE Arca: itb), a broad barometer for the housing market, is up some 38 percent from the stock market's October bottom, while the S&P 500 is up about 21 percent.

Finally, there's the intangible fatigue with bad news, and a desire to end the negative feedback loop.

"We believe there is sizable housing demand that could be released into the market," says Lawrence Yun, chief economist of the National Association of Realtors, NAR.

The NAR is forecasting existing home sales will rise 5 percent in both 2012 and 2013; prices will edge up 2 percent in each of those two years, then 4 percent in 2014.

The NAHB is forecasting a 5.1-percent increase in new home sales and a 10-percent increase for new home starts in 2012.

Jobs, Jobs, Jobs

A turnaround in the housing market will require continued improvement in the job market.

The economy has created jobs 13 months in a row for a total of almost 1.9 million. Weekly jobless claims have been routinely below the key level of 400,000, and the national jobless rate is down to 8.6 percent.

There are already signs in some markets that an improving employment picture is boosting housing demand and sale prices.

In cities such as Tampa, Fla., South Bend, Ind., Grand Rapids, Mich., Raleigh, N.C., Wichita, Kan., and Green Bay, Wis.., the median sales price of an existing single family home increased 1-2 percent in the third quarter, during which time the jobless rate and/or payrolls growth improved dramatically.

Even in the Cape Coral-Fort Myers, Fla. metropolitan area - considered the epicenter of the foreclosure crisis a few years ago - prices were just 1.4 percent lower in the third quarter than the previous year.

A new index by the NAHB and First American, the Improving Markets Index, IMI, launched in September, tracks housing markets throughout the country that are showing signs of improving economic health. Thirty cities - including San Jose, Pittsburgh, New Orleans and Winston-Salem, N.C. - are showing growth in permits, sales and employment.

In San Diego - where in the last year the jobless rate has fallen from 10.4 percent to 9.7 percent and 24,000 jobs have been added - home inventory is down to two months; in some areas of San Francisco (9.4 vs. 10.3 percent), it is one month.

More broadly, 40 percent of all states showed existing home sale increases on both a quarterly and annual basis in the third quarter, according to National Association of Realtors data. That includes high foreclosure-rate states, such as California, Georgia, Michigan and Utah. All but six states showed double-digit gains year over year.

Location, Location, Location

There's even a strong case to be made that the foreclosure crisis is easing.

"The pipeline of distressed property is plentiful but less than last year," when foreclosure activity hit a record 2.18 million, says Yun.

For the first nine months of 2011, foreclosure activity is down sharply from the same period last year (26.59 percent), whether it is the worst-off states - (Florida, 54.98 percent; California, 31.51 percent; Utah, 27.41 percent) - or better-off ones (New York, 46.57 percent; Mississippi, 33.25 percent; South Dakota, 26.59 percent), according to RealtyTrac, which tracks the data.

Third-quarter foreclosures (610,337) were up 1 percent from the previous quarter but down 34 percent from the year-ago period.

The wild card right now is an impending wave of new foreclosed properties on the market, following the removal of state moratoria and the settlement of state and federal lawsuits with lenders and loan servicers.

It's unclear how many properties will hit the market, but conservative estimates put the number at over a million.

Still, of the top 20 markets in the new wave, nine are in California, five in Florida and two in Ohio, according RealtyTrac, so the impact will be fairly concentated.

Another question is whether that wave will be a tsunami or merely a breaker. If the market is in fact recovering, why would banks want to weaken it again by deluging it with cheap properties.

"You could see them trying to gauge the market like speculators," answers Howard.

Kim of Barclays is among those who say the threat is exaggerated, perhaps misunderstood. He estimates that 40 percent of the foreclosed properties haven't had a payment made on them in two years, which means they are in poor condition and thus unattractive to many buyers.

"The deterioration has been great," he says. "It flies in the face of all the bearish arguments."

Kim's thesis is that there are now two kinds of buyers in the market; those who'll take a chance on a bargain-priced, distressed property and those who'll only make a conventional transaction. He says it helps explain why the Core Logic data he used for his latest report shows non-distressed prices flat or slightly higher in the past year.

"Even if the banks decide to move their inventory more aggressively, and I suspect they will, it's OK because the buyer is making a distinction," explains Kim.

"There's a ready appetite for it," adds Smith of Realogy, who agrees that there's substantial pent-up demand for housing in general but also great uncertainty. "If you can relieve consumers of some of that uncertainty, then I can see a nice little recovery."

That's the psychological dimension of the wild card - the negative feedback loop that has plagued housing.

Optimists say most of the uncertainty and fear is gone.

"The major driver of negative sentiment was that prices were going down across the market by large amounts," says Kim of Barclays. "Buyers need to see a stabilization."

A contributing element to that is the unwinding of government intervention - whether to artificially spur demand - as was the case with the first-time buyer tax incentive program of 2009 and 2010 - and/or to retard and prevent foreclosures.

Many regard those efforts as largely ineffective, if not counter-productive because they delayed the inevitable - a deep descent to a market bottom, which has finally been touched.

"The numbers you're looking at you can trust," says Kim. "There are no exogenous factors."

Though tight lending conditions and forthcoming regulations of the Dodd-Frank legislation are still an issue for some, sweeping housing finance reform is off the agenda for at least the next year.

"You're back to the natural forces of the market," says Howard of the builders association.

CNBC – Fri, Dec 9, 2011 1:06 PM EST 

My wife, who was my fiancé back in 1994, and I decided that we would go with a new construction home. We met with a Realtor, who at that time was a family friend, who introduced us to a builder in Cumberland, RI, Back then Buyer's Agent were not too common. In our minds we thought that this Realtor was representing us, when in fact he was representing the builder. In our meeting, we decided on the type of house that we were going to have built. We then wrote a deposit check made out directly to the builder.

That was a big mistake on our part. In Hein sight, the deposit should have been made out to the Realtor's company and held in their escrow account. Being young and naive about becoming an owner of a brand new home blinded us to the danger of what we ended up dealing with.

The builder went bankrupt. Our deposit was gone and we never ended up with the house that he was building for us. Just like that, all of the money that we saved for a down payment was gone.

Luckily we ended up in a beautiful home in Seekonk, MA but it was an expensive lesson that we learned. My advice to you, use a Buyer's Agent. It cost nothing to do so and in the end it can save you a lot of money and headaches.

Oh, and by the way, this builder is still selling houses as a licensed Realtor, go figure - Buyer Beware.

So you have your house on the market. You chose a trusted Realtor who came highly recommended by your family and friends. He put your home in the Multiple Listing Services. Submitted it to all the on-line real estate websites. Created a beautiful virtual tour and implemented social media as well. Six weeks have gone by. You’ve had a dozen showings but no offers. So what gives? Well when your Realtor listed your property he advised you to list at an aggressive fair market price. You decided to go $20,000 over his recommended listing price to “test” the market. He also advised you to make sure that your home was staged to sell and that it should be move in condition. You responded by saying that you would fix the items that needed repair if the buyer requested them to be done.

But here are the problems. You hired a professional Realtor that you are going to pay thousands of dollars in commission. This professional knows what it takes to sell a home in a saturated, declining market. He advised you what you needed to do to sell your home but you chose not to take his recommendations. The feedback that you are getting from buyers is that they feel that your home is over priced. Their Realtor did a Comparative Market Analysis and the comparables indicate that your home is indeed over priced. They also mention that they are concerned with the leak under the sink and the toilet that keeps running.

As a seller you figure that they can “at least make an offer”. Unfortunately this has not happened due to the fact that these savvy buyers have decided to keep looking at the many other homes that are listed at fair market value and require less work.

Don’t get me wrong. They will probably still consider your home. After all its in a great location. But for know they are going to take a pass and take the “wait and see” approach if the seller will eventually adjust their price.

This can be extremely detrimental to the sale of your home. The first two weeks when your home is listed is the most crucial time. Your home is new to the market and everyone is talking about it. It’s in these first two weeks that getting an offer is crucial in selling your home.

Sellers must realize that there are many qualified buyers looking for homes right now. They have to put their trust into their Realtor and let them market their home competitively in today’s real estate market. Your home most likely will sell within 120 days if it is priced correctly and is in move in ready condition.

For more information about the Seekonk Real Estate Market, visit my website at www.SeekonkRealEstateNews.com.

Is your home ready for winter and the holiday rush?

The above are the five items that I recommend. There are other steps that can be taken as well. Feel free to leave your suggestions in the comment section.

This is also the time of year that can be very busy for sellers and buyers. Many buyers will want to make their move to be in their new home for the holidays. Sellers can typically expect more showings and more aggressive offers on their home. Buyers tend to make quicker decisions on which home they want to place an offer on. This time of year puts a sense of an artificial urgency on buyers. Many have an objective to be settled in their new home to celebrate the holidays.

As always, sellers should make sure that their home is move in condition. Sellers that do this will stand out amongst the saturated market of over 80 homes that are currently on the market.

Seekonk real estate market remains active.

Average listing price: $328,180. Average sale price: $304,920. Average days on market: 61.

Six homes went under agreement: 

• 28 Spring St. Listing Price $140,000
• 46 Grant St. Listing Price $187,000
• 17 Field St. Listing Price $219,900
• 60 Cleveland St. Listing Price $229,900
• 37 Cherry Hill Dr. Listing Price $244,000
• 82 Chappell St. Listing Price $319,900

There are currently 92 homes that remain on the market. This large amount of inventory creates a great buyer’s market. To view any of these properties, contact your local Realtor. Also, don’t forget to check back to see what the under agreement homes actually sold for. 

Holiday Hill and the Meadows are two of the older areas. I remember as a child growing up in the North End, these were the two areas that my friends and I had to go to on Halloween. We felt that these areas would have the best candy. Some of us thought that they might even pass out money instead of candy.

Ledgemont Estates gets it name from abutting the Ledgemont Country Club. Located off of Pine Street and Brown Avenue, these homes had the distinctive appeal for residents wanting to live next to a world-class country club.

Here is a list of other luxury estates: Grassy Hill Farms, Cedar Hill Terrace, Robincrest Court, Galen Court, Pembroke Estates, Burnside Estates, Kenwood Estates, Jane Howland Estates, Saddlebrook Estates, Banna Estates, Pine Meadow Estates, Girard Estates.

There are also many high-end homes located on Woodward Avenue, Walker Street, Woodland Avenue, Pine Street, Warren Avenue, Davis Street, Chestnut Street, Elizabeth Way, and Windshire Road. Read Street is famous for its three huge homes that are their own estates.

There are currently 45 active luxury homes on the market with the average listing price of $480,302. Take a drive around town to view some of these gorgeous properties.

High-end, luxury living in a peaceful small town with low taxes is a winning combination.

Medium price range:

• 77 Saint Laurent Parkway, Ranch 3 beds, 1 bath $248,000
• 303 Woodland Avenue, Raised Ranch 3 beds, 1 bath $269,900
• Lot 6 Evelyn Way, Colonial 3 beds, 1.5 baths $364,900
• 109 Gregory Drive, Colonial 4 beds, 2.5 baths $389,000
• 14 Chelsea Drive, Colonial 3 beds, 2.5 baths $399,900

High price range:

• 84 Pheasant Ridge Road, Ranch 3 beds, 3 baths $569,500
• 57 Robincrest Court, Colonial 4 beds 2.5 baths $624,900
• 420 Lincoln Street, Ranch 5 beds, 2.5 baths $749,900

To schedule a showing for any of these homes, contact your local, trusted Realtor. As always keep in mind that we are in a great buyer’s market with many active buyer’s searching for a home. What is here today could be gone tomorrow.

A home inspector can point out any major defects in the home including problems with the furnace, electrical systems, roof, plumbing, radon and insects. This allows the buyer to request from the seller to have major issues corrected at the seller’s cost by a licensed professional (unless the seller disclosed these issues on the seller’s disclosure form).

A couple of important items to keep in mind: Massachusetts home owners are not required to fill out seller’s disclosures. In Rhode Island, seller’s disclosures are mandatory. Massachusetts’s home inspectors must be licensed. Rhode Island does not have this requirement - but they do require the home inspector to be a licensed general contractor.

According to the MA MLS PIN, there are 80 single-family homes on the market with the average listing price of $372,091. This is a lot of inventory for a buyer to choose from. My advice to sellers, make sure the condition of your home will pass a home inspection. Having a pre-home inspection completed can do this. If your home does not pass a home inspection, the buyer may decide to move onto another home. They have plenty to choose from.

Deciding to sell your home is a big decision. Some homeowners choose to sell their home without a Realtor. This is called a FSBO (For Sale By Owner). I’d be lying to you if I told you that selling your home on your own couldn’t be done. Some homeowners have been able to do so but the majority are unable to. Why?

Well first of all the biggest mistake that they make is the pricing of their home. Either they price it too high - this causes the home to sit for months without selling. Or too low - in this case, they lose thousand of dollars on the sale. Usually much more than the broker’s fee alone. Some will get the advice of a Realtor to see what their home is worth. The Realtor, usually free of charge, will prepare a CMA (Comparative Market Analysis). The seller will now have an accurate figure for pricing their home.

You can put a for sale sign on your front lawn and wait for the buyers to start rolling in right? Wrong. Just placing a sign in your yard is not enough to sell your home in today’s market. Sellers do not have access to the MLS (Multiple Listing Services). This is a site that all Realtors use to view properties that are for sale.

But wait a minute, can’t a homeowner use one of those real estate services that allow you to pay a flat to have their home listed on the MLS. Sure you can. But if it was that easy as putting your home on the MLS and wait for buyers to start calling, wouldn’t the majority be doing this? The answer is no. Realtors will be cross- referencing their buyers that they have in their database to generate matches for your home. They will then start contacting these buyers to set up showings to view your home. Realtors will also be contacting other real estate agents who will then do the same to see if they have any matches as well. This creates maximum exposure for your home. This will create multiple showings and possibly multiple offers.

As a Realtor, I use the three “S” formula: sell the sellers, sell the location, sell the home. If you are considering selling your home contact a local Realtor, but also keep in mind not all Realtors are the same. So choose wisely.

Two new homes hit the market:

• 27 Benson Avenue, a three bedroom, 1 bathroom ranch listed at $239,900.
• 107 Hope Street, a three bedroom, 2.5 bathroom colonial listed at $260,000.

One home is now currently back on the market:

• 46 Grant Street, a three bedroom with 1.5 bathrooms and a listing price of $190,000.

Three homes went under agreement:

• 44 Cleveland Street, a three bedroom, one bathroom ranch at $219,500.
• 185 Read Street, a two bedroom, 1.5 bathroom cape at $259,000.
• 4 Peep Toad Court, a four bedroom, 2.5 bathroom colonial at $399,900.

Peep Toad Court was previously on the market for $529,000 before expiring after 172 days on the market. After being re-listed with the asking price of $399,900, it only took 22 days before going under agreement. The huge price-drop of $129,100 obviously helped this home go under agreement so quickly.

Two homes had price changes:

• 329 Jacob Street, a three bedroom, 2.5 bathroom colonial, was listed for $528,000 and its current price is now $485,000. This home has been on the market for 359 days.
• The other home, 2 Letendre Road, a four bedroom, 2.5 bathroom colonial, was on the market for $549,900 and is now $529,000. It has been on the market for 37 days.

We also saw four homes that sold:

• James Street listed at $269,900 sold for $230,000 and was on the market for 309 days.
• 5 King Philip Road was on the market for 411 days with an original asking price of $349,000. It sold for $320,000.
• 357 Ledge Road was listed for $399,900 and after 288 days on the market, its selling price was $385,000.
• 12 Marsden Court had a listing price of $579,900 and sold for $540,000 after being on the market for 165 days.

Interesting note, 357 Ledge Road originally hit the market back in April 2008 with an asking price of $479,900.

A message to buyers, sellers want you to “make an offer." No offer is really a bad offer within reason. Sellers, any offer made on your home should be considered “an offer of interest." If each party can give and take a little, a deal is likely to happen. 

This is a complete breakdown for the past 30 days.

• According to the MA MLS PIN, 16 homes went Under Agreement: 120 Ledge Road, 207 Ledge Road, 11 Bergeron St., 89 Chestnut St., 37 Forest Ave., 46 Grant St., 38 Dexter Ave., 44 Cleveland St., 118 Coyle Dr., 238 County St., 77 Saint Laurent Pkwy., 21 Hope St., 1169 Newman Ave., 66 Bass St., 45 Anthony St., and 24 Harris Ct.
• Average listing price: $223,486.
• Highest priced home: $437,500
• Lowest priced home: $56,500
• Average days on the market: 137
• Thirteen homes Sold: 270 Warren Ave., $110,000; 16 Brookfield St., $140,000; 2 Grant St., $139,900; 36 Winthrop St., $223,500; 226 Olney St., $244,400; 75 Woodward Ave., $281,190; 51 Lauren Dr., $280,000; 51 Lauren Dr., $280,000; 139 Hammond St., $321,000; 5 King Philip Rd., $320,000; 357 Ledge Rd., $385,000; 34 Aubin St., $390,000; 128 Burnside Ave., $552,500; 12 Marsden Ct., $540,000.
• Average listing price: $315,485
• Average sale price: $302,115
• Highest sale price, $540,000
• Lowest sale price: $110,000
• Average days on the market: 172.

Seekonk real estate is moving. If you are thinking of buying or selling, this could be the right time to do so.

In the past month, according to MA MLS PIN, seven homes went under agreement. These homes all had one thing in common; they adjusted their price to the current real estate market.

Seekonk is also not without its share of Short Sale homes. Currently there are six homes on the market and unfortunately, more are on the way. Two Short Sale homes are currently under agreement and two have sold all in the last thirty days.

Let me back up just a bit. For those of you who don’t know what a Short Sale is, simply put, its when a seller owes more on their property than what it is worth in today’s market. We also call this a distress property and a home that is “under water”.

There are many reasons why this may happen. The seller may have bought or refinanced at the peak of the market and can no longer afford their current mortgage payments. They may have an adjusted mortgage rate that has triggered their payments out of reach. Or they might need to sell to relocate for a job transfer.

Whatever the reason, it’s a very sensitive and stressful time for the homeowner. If you find yourself in this situation, speak to a trusted Realtor to discuss your options.

Seekonk is divided into four zones: R1 14,400 square feet, R2 22,500 square feet, R3 40,000 square feet and R4 62,500 square feet. Knowing which zone you live in will determine if you will be approved for the proper building permit or if you will need to apply for a variance. Our website has a wealth of information including guidelines and forms which can also be printed out. If you are uncertain, stop by our Town Hall and one of our friendly town employees will be happy to assist you.

Just a final quick note, in just 12 days into the month of May, five new homes have hit the Seekonk market ranging from $120,000 to $569,500 according to MA MLS PIN.

Great time to build. Great time to buy. Enjoy.

According to MA MLS PIN, in the month of April, nine homes sold. The average listing price was $334,189 with the average selling price of $296,211. Eight homes went under agreement. Their average listing price was $278,400. That’s a total of seventeen homes in one month that are currently no longer on the market. A sure sign that buyers are taking advantage of the low interest rates and the variety of homes that are available.

Six years ago in April 2005, five homes sold with the average listing price of $274,900 and the average selling price $268,700. This was still at the height of the real estate boom. If you compare that to this past month, we almost doubled the amount of homes that were sold in the same month.

Another sign of a strengthening market is the new construction that has been taking place in our town. Although cautious, builders are taking that next step to begin new subdivisions. Case in point, the Conservation Subdivision located on Newman Avenue and Brook Street is about to break grounds for fourteen new homes starting at $329,000.

The price of land has gone down a bit but continues to holds steady mainly because of two things: supply and demand. There just isn’t that much land available to purchase in our town.

According to MA MLS PIN, Seekonk has twenty listings for land on the market. The average listing price is $176,838. In the past six months, two parcels have sold at an average sale price of $159,950. Six years ago, the average sale price was $187,839. That’s a drop in resale value of $27,889.

Many lots for sale are located in very nice subdivisions including Anthony Street, Aubin Street and Betty’s Way.

On the commercial side there are eighteen active listings with an average listing price of $313,884. These listings consist of a mixture of industrial, office, and commercial buildings, which are located in the South, Central and North End of town.

Rentals, unfortunately are far and few. According to MA MLS PIN, there are only two rental properties available. However, there are other rental properties available but the only way to find out is by getting creative with your search by searching online, driving around town looking for rental signs.

I receive many calls from individuals who are looking to rent in Seekonk. Some of them are in process of losing their home, couples getting divorced, seniors who need to downsize and some who just cannot afford to buy. In my opinion, Seekonk does not have anywhere near the amount of rentals that are needed. There is a tremendous need for affordable housing and rentals but at this time Seekonk isn’t set up for this type of demand.

Many other Seekonk people had major flooding in their basement as well. Residents who never had water in their basement were not spared. My neighbor had about three feet of water. Another neighbor had about a foot of water and it seemed to continue throughout our neighborhood.

But we all pulled together. Everything seemed surreal in the area. You could hear generators and pumps working night and day.

So what type of long term effect will this have on your resale value of your home? If you did not have any water issues then you should be fine. But if you did, this will need to be disclosed to the potential new buyer. This can cause a red flag, possibly lowering your home value and making a sale more challenging. However, if you were like me and had substantial work done in your basement and yard to prevent this type of damage to never happen again: new high end sump pumps, French drains, better yard excavation – the works. This should also be pointed out to the potential new buyer which should help with the resale.

But as we say in New England “it is what it is." Only time will tell if all the work that was done will pay off if the next “Storm of 100 Years” decides to make an earlier appearance.

All of this and still the quiet feel of a small town with farms, walking trails and reservoir. A taste of country living with all the necessities one could ask for.

I’ve been living in Seekonk just about my whole life. And to this day, when I drive around our town, I still feel privileged that I’m fortunate to be a homeowner.

In my opinion Seekonk offers the three items most when purchasing a home – location, location, location. Maybe this is why so many people are looking to buy in our quaint town of Seekonk, Mass.

Did you ever think you could buy a home in Seekonk for $200,000 or less? In today’s market you can!

There are currently eleven homes on the market in this price range according to MLS PIN.

Here is a quick look at what’s available:

46 Grant Street, 3 beds 1.5 baths, Raised Ranch $200,000

384 Lincoln Street, 3 beds, 1.5 baths, Antique $199,000

9 Westdale Avenue, 2 beds, 1 bath, Ranch $179,000

37 Forest Avenue, 3 beds, 1 bath, Bungalow $184,900

65 Edwards Street, 2 beds, 1bath, Ranch $164,000

32 Morris Street, 3 beds, 2.5 baths, Ranch $160,000

16 Covel Avenue, 1 bed, 1 bath, Cape $159,900

481 Arcade Avenue, 2 bed, 1 bath, Bungalow $159,000

28 Spring Street, 3 beds, 1.5 baths, Colonial $149,900

597 Fall River Avenue, 4 beds, 1.5 baths, Colonial $149,900

302 Oak Hill Avenue, 3 beds, 1.5 baths, Colonial $115,200

That makes the average price of these home $166,436.36. Well under $200,000.

Recently I sold a Short Sale, 3 beds, 1 bath Move-In-Condition Home located at 58 Shirwood Drive for only $175,000.

The deals are OUT there. Contact your local Realtor to purchase your next “wow I only paid…” home.

Within the last couple of weeks, nine single-family homes went under agreement, according to the MLS and state PIN, an information source for Realtors. Of these nine, one of them went under agreement in only four days! The average listing price for these homes were $300,122; they stayed on the market for average of 101 before they went under agreement. And on average, the homes listed under $300,000 went under agreement in 51 days.

Also in the last couple of weeks, five homes were sold. One of these homes sold for $42,000 over the asking price! The average selling price was $190,400 with the average days of the market being 85. One of these sold for $315,000 and was bought with cash. It was obvious that this buyer wanted to avoid some of the headaches when dealing with a bank but that is another article for another day.

This indicates to me that we are going to have a healthy spring and summer real estate market. I encourage buyers to meet up with their Realtor and go check out some of these fantastic homes that are still on the market. For sellers, if you have been thinking about listing your home to sell, contact your Realtor to do so sooner than later so you can get a piece of this warm market. The buyers are out there and they are looking to buy!

• Home sales in this country generate more than 2.5 million private-sector jobs in an average year. For every two homes sold, a job is created.
• Each home sale touches 80 different occupations.
• Every home purchased pumps up to $60,000 into the economy over time for furniture, home improvements, and related items.
• Housing accounts for more than 15% of the Gross Domestic Product, making it a key driver in our national economy.
• Housing has led this country out of six of the last eight recessions.

America needs jobs. Housing creates jobs. That's one of the many reasons home ownership matters to people, to communities, to America.

Strong federal government support of home ownership equals strong support for American jobs. We urge the Obama Administration and the U.S. Congress—as they debate the new federal budget and reform proposals for the nation's mortgage finance system—to continue federal support for home ownership.

Jobs and Home Ownership. You can't have one without the other.

source: NAR/Realtor.org

The lawyer admits to breaking into homes at least a half-dozen times on behalf of clients. And he’s gotten into plenty of trouble for his advice: Pines has been fined by a San Diego judge, arrested in Newport Beach, Calif., and threatened with contempt of court -- and jail -- in Ventura County, Calif.

But Pines says violating the law is necessary to force courts to examine how banks are doing business with distressed home owners.

Pines recently voiced his approach at entering the foreclosed home in open court at a hearing for his clients Jim and Danielle Earl, who had been evicted from their six-bedroom home.

"I'm going back there," Pines declared in court. "And I hope I get arrested."

George Lefcoe, a USC real estate law professor, says Pines violates professional ethics in advising clients to break the law. "What (his clients) are doing on his advice is not only going to prove costly to them and completely futile, it could lead to dangerous altercations with the true owners and law enforcement officers," Lefcoe told the Chicago Tribune in an article about Pines.

Pines has been a lawyer for more than 30 years and has had his own foreclosure troubles. At least six of his properties are in foreclosure, and he owes banks more than $2 million. He filed for bankruptcy protection.

"I filed bankruptcy myself because I stopped paying," Pines said. "I followed my own advice. I said I'm not going to let the banks steal from me."

Source: “Foreclosure Hero or Villain? Attorney Who Was Baseball Star’s Lawyer Will Break Into Homes for Desperate Clients,” The Chicago Tribune (Jan. 31, 2011)