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March 27, 2012

Red Sox Batting Order 2012

What a change from year to year.

 

Last year, with Francona running the team, and all that history behind him, it was relatively easy to project what he might do with the batting order. Injuries and a host of Lefties from the opposition early in the season meant that it was difficult to get it right off the bat, but it was still a lot easier than this year. A week to go, and I feel that although the top third of the line up is set, I expect Bobby Valentine to do some very interesting things as we go along with the bottom half of the lineup. Will he favor hot players over historical success? Will he play players with better defense at the expense of offense? Will he keep the lineup more or less stable - or mix it up like a fruit salad? Will he stick with slumping veterans or have a short leash? With 10 years away from the majors, any and all of these questions are legitimate.

 

If Crawford was healthy, I'd have to submit two potential batting orders for consideration. But he's not, so on Opening Day this would be my prediction.

 

The lineup will likely remain a mystery until Opening

Day.  

1. Ellsbury (L) (CF)

2. Pedroia (R) (2B)

3. Gonzales (L) (1B)

4. Ortiz (L) (DH)

5. Youkilis (R) (3B)

6. Ross (R) (RF)//Ryan Sweeney (L) (RF)

7. Salty (S) (C)

8. Aviles (R) (SS)

9. McDonald (LF) (R)

 

Ok, so here's why:

 

1) Ellsbury: Well he was the MVP (Yes, you can put me in the camp that a pitcher can't be MVP. That's why they have the Cy Young) in my book hitting out of the top spot. It's his to lose.

 

2) Pedroia: It's hard to argue hitting him somewhere else.

 

3) Gonzales: 117 RBI's hitting 3rd says he stays put.

 

Well, those were the easy ones. Now we must begin to penetrate the Machiavellian nature of Bobby V, to predict the next six.

 

4) Ortiz: Ortiz was a simply a monster last year, putting up, to me, one his most impressive seasons. His ability to beat up both lefthanders and right handers with power, putting up well over a .900 OPS against each, to me makes him your clean up hitter. This is a break from last year - we know how Francona seemed to emphasize L/R/L, but hitting both sides so well, Ortiz basically minimizes that issue to me. It doesn't hurt that Verlander is a righty.

 

5) Youkilis: After injury issues in the past several seasons, it's well understood that the Sox aren't the same team without a healthy Youkilis. They need to keep him healthy, and batting fifth instead of clean up should help. It's still a heavy workload, but every little bit helps.

 

You could, of course, flip 4 and 5 and not too many people would cry foul, at least on opening day. Ortiz managed to escape last season without a major slump - probably for the same reason he could hit lefties - by committing to hitting to all fields. If that continues, he should stay productive in the clean up spot. If he slumps anything like he did in 2010 or 2009, I doubt very much Valentine will keep him there.

 

Now of course, it gets really dicey for the last four hitters. But here's what I think we'll see.

 

6) Cody Ross - Ross was brought in as the fourth outfielder, but is called into service as Crawford won't be in the opening day line up. Most think he'll effectively platoon with Ryan Sweeney, and since Sweeney is much better against righties, it's possible that he'll start on opening day. But Ross has had a monster spring, and I bet he stays in as long as he doesn't slump in the next week. Sweeney has not done much this spring, and will likely have to play his way into more lineup time.

 

7) Saltalammachia: Can you go wrong with a switch hitting catcher in the 7th spot? I say no. A .737 OPS keeps him out of the 8th spot.

 

8) Mike Aviles: I've been on the blog before about how much of a threat Iglesias was to start at short this year. I hope the scouts are right, and that he can learn to hit major league pitching. But he has shown no evidence that he can, at even a substandard level. I don't care how good his glove is, the Sox Brass know just as well as I if he hits .210 with no power through May the fans will run him out of town, and he'll be lucky to ever put it together again. Too big a risk to take. Making it easier on the Sox has been Aviles outstanding spring. I'd come to really appreciate what Scutaro brought to the plate, but I don't think the drop off will be too bad with Aviles.

 

9) Darnell McDonald: McDonald is more of a proven commodity to the Sox Brass than Ryan Sweeney, and he has the speed to make a dangerous #9 hitter. But he's never faced Verlander, and Ryan Sweeney has had some moderate success, so it could be that we finish Sweeney/Aviles instead of Aviles/McDonald. I still think Sweeney will need to show something in the final week to get off the bench, but the line up fits better against Verlander and other righties with him in there.

 

Spring Training Trivia:

Q: With 30 or more AB, who are the top three players in OPS on the 40 man roster this spring?

A: McDonald: 1.415, Cody Ross: 1.115, and Ryan Lavarnway 1.015

 

McDonald is in one of those hot streaks where no one can get him out, Cody Ross has hit 3 home runs already, and Ryan Lavarnway keeps demonstrating that Kelly Shoppach isn't going to be with the Sox very long. Lavarnway gets my "Jed Lowrie Award" as the player who I predict is just too good to keep on the bench (and thankfully, he doesn't have the injury bug like Jed).

 

I can't close without discussing the elephant in the room. Crawford. It's easy for me to make the case for the existing lineup, there's a flow to it. Unless one of the top three is in a major slump (and even then, I doubt it), there's still no solution for Crawford. I think the single biggest decision Valentine might make is where he hits Crawford right out of the gate once he's healthy. Does he cater to his clearly stated preference to be at the top of the order, despite the fact he did nothing to earn it (while the other guys did). Does he bat him ninth and risk losing him indefinitely? Does he move everyone around on a day to day basis? This will be a drama worth watching, that's for sure. It won't get easier no matter what Carl does. If he's at the bottom and hits, people will clamor to move him up. If he at the top and doesn't hit, more rancor. It should be fascinating. Of course, trading Ellsbury solves that problem, but that's a subject for a different post.

Posted in Red Sox
March 20, 2012

Westborough, MA - Home Sales Statistics (Mar)

Westborough, MA Housing Market Statistics Overview

 

This is the most interesting report in a while - but it's not good for sellers (Hint: that means it's good for buyers). Westborough has been a "hot town" in Metrowest for years - but it has cooled off. With an HSI of just 75, sellers in Westborough are probably asking "what happened?" Markets ebb and flow, so the "cool down" isn't anywhere near as interesting to me as the next stat: $/sq foot, which dropped a jaw dropping $15 in just a couple of months. That's a very unusual move, and had me thinking about a conversation I was having with one of my buyers. They really like Westborough, but have crossed it off their list - due to the tax rate. Yes, the tax rate in Westborough has jumped a lot in the past couple of years, probably due to the the same commercial property tax issues that are plaguing Framingham residents, and residents have noticed. With commercial values down, residential rates go up - a real negative when the economy softens.

 

Obviously, I'm inferring a chain of events, but here's the logic:

A) Tax rates get posted and updated on new listings around Jan timeframe, and start to outpace their peers.

B) The more expensive homes start to carry bigger tax numbers, and sales slow, as this cost gets rolled into prices

C) With younger, more expensive homes seeing sales slow, $/sq foot drops as the ratio of expensive/inexpensive homes shifts quickly.

 

Interesting theory. Does it have merit? I took a quick look at the number of homes that sold in the last six months younger than 1990. There were 9. The preceding 6 months? 32. A small sample set, but interesting.

 

I don't think Westborough has much to worry about though. It's not like the commercial tax based evaporated, it's just under performing.  An improving economy should improve the commercial tax revenues and the town will likely revert to the tax friendly community it has been for much of the last 20 years (relative to neighboring communities). In the meantime, this could be a great time for buyers to grab relative bargains. Yes, the taxes are an issue in the medium-term, but by the time they improve, I would expect prices to bounce back.

 

Note also that the foreclosures and short-sales have all but disappeared from the market. We've dropped from 11 to just 2 bank impacted properties in just two reports. A positive sign going forward for sure.

 

Westborough Housing Market Statistics - Raw MLS Data

 

  • There are 67 homes listed (vs. 54 in the last Westborough Home Sales Report) as For Sale.
  • There have been 67 houses sold (vs. 88) in the last 6 months, and 35 homes sold (vs. 35 in the last 3 months.
  • There was an Average Market Time of 142 days (vs. 91) for just SOLD homes.
  • There is an Average Market Time of 175 days (vs. 231) of the homes For Sale.
  • The Dollars paid per Square Foot in Westborough, MA is $170 (vs. $185) )
  • There was an Average Sold Price of $362,693 for sold homes.
  • Westborough, MA has 1 properties (vs 1) advertised as lender owned/foreclosure (typically foreclosure) .
  • Westborough has 1 properties (vs. 5) advertised as short sales required by lender .
  • Westborough “Hot Seller Index” (HSI): 75 Last Report: 95

 

 

*All statistics are for Single Family Houses and based on data in MLS.

 

 

This author thinks higher Tax Rates

are putting a damper on Westborough Home Sales

Read my Explanation for Massachusetts Home Data Reports.

Our Most Accessed Posts

About Matt Heisler

Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.

Do Good Things Today! Matt Heisler

*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.

Posted in Westborough, MA
March 18, 2012

Carpenter Ants Return with Early Spring

One of my least favorite spring-time rituals is the sighting of my first carpenter ant in my house.  Seeing a few of these pests is pretty normal, they are known to travel as much as 300 feet in their search for food.  They don't eat wood, but they do tunnel through it   Generally, only the most severe of infestations is a "housing issue". Regardless, not very many us like sharing our castle with these freeloaders!

 

Today there are many products available to homeowners to help keep your home ant free. Here are a few strategies I prefer, for the do-it-yourself-er.

 

1) Barriers.  Carpenter Ant Barriers come in two types, the granule (solid) types and the spray (liquid) types.  I like to spread the granules around the base of my house, with the easy spread canisters that Ortho sells.

2) High Risk Areas: If there are any "high risk" areas, which are areas where the wood  or housing sill is particularly close to the ground, or is often wet, (they prefer wet wood) I usually spray the liquid in those areas as well.  My home has a couple of trouble spots where I know they like to hang out (or should I say, "formerly" hung out), and I make sure that those spots will be uncomfortable.

2) Be Early:  Better early than late: Don't let them start to figure out that your home is a good nesting site.  The barriers will repel them, and make sure any trails they make and follow go somewhere else. Once I see they are active, I get active myself.

3) Have more than a few? Get a Pro.  I'm much more comfortable with product outside my home than inside, but I don't want them in my house, period!  Since Carpenter ants have a nasty habit of making homes in places you can't see, a large presence in your home (and/or a winter presence) may indicate that there are some new tenants that need to served their paperwork.  Get a reputable pest person to make sure the problem is handled properly.

4) Prevent: If you have old, wet wood wood that is rotting with in close proximity of your home, try to get rid of it, as it could make a good site for future carpenter ants. Although it's unrealistic to try to eliminate every possible nesting site, you don't want to give them easy access to your home.  Better a long walk, than a short one.  It's also a good idea to keep shrubs and plants away from your home or foundation, as they can walk right up these plants and on to your home.  Any branches that touch your roof or home from trees can also be pathways up and over any barriers that you lay down.

 

Good Luck!

 

 

March 15, 2012

Upton, MA - Home Sales Statistics (Mar)

Upton Housing Market Statistics Overview

Sellers are way ahead of buyers in Upton. With 16 (30% of the market) having listed in just the last 30 days, there's a surge in inventory. Sales haven't kept pace - yet - and so we see a pretty disappointing HSI in Upton in this report: 62. In some of the other towns, this rise in inventory has been offset by coming sales, with Sudbury and Southborough, both further East, showing some strong demand and quick sales. That's much more muted in Upton, which typically can take a little longer to heat up for sellers. We know what that means, Buyers, try Upton! It's a small town, but it might have the right house for you. With all these sellers, and not much competition, it could be the right place to buy now.

 

 

Some might ask: 16 new homes for sale in a month? Is this the dreaded "Shadow Inventory?" coming to Upton? Once again, the answer is no. We see no change in the bank-impacted inventory, with just three homes either a foreclosure or short-sale. As a percentage, that's still too much for my liking (6%) but it's better than much higher numbers, and the foreclosure rate (2%) is within norms.

 

Upton, MA Housing Market Statistics - Raw MLS Data

 

Upton is being passed over by Home Buyers,

which mean it may be a good time to see what's there.

  • There are 53 homes (vs. 31 in the last Upton Real Estate Report) listed as For Sale.
  • There have been 27 houses sold (vs. 41) in the last 6 months, and 13 homes sold (vs. 16) in the last 3 months.
  • There was an Average Market Time of 127 days for just SOLD homes.
  • There is an Average Market Time of 160 days of the homes For Sale.
  • The Dollars paid per Square Foot in Upton, MA is $144 (vs. $155)
  • There was an Average Sold Price of $314,722 for sold homes.
  • Upton has 1 properties (vs. 1) advertised as lender owned/foreclosure (typically foreclosure) .
  • Upton has 2 properties (vs. 2) advertised as short sales required by lender .
  • Upton “Hot Seller Index” (HSI): 62 Last Report: 80

 

 

*All statistics are for Single Family Houses and based on data in MLS.

 

Read my Explanation for Massachusetts Home Data Reports.

Our Most Accessed Posts

About Matt Heisler

Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.

Do Good Things Today! Matt Heisler

*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.

Posted in Upton, Ma
March 14, 2012

How Do I Buy a House? Getting Prepared for a Big Purchase.

While combing through the 450+ posts I have on this site, I noticed that I've forgotten one of the most basic steps of all: A basic walkthrough of how to get prepared for buying a home. I meet most clients after they have already done some or all of these steps, so I don't typically get a lot of questions on it, but it's a good post.

 

How do I get Ready to Buy a House?

We'll cover the following topics here.

  • Big Purchases Need Money: Get your Financial House in Order
  • Picking Towns: The Commute: #1 Concern for Most Buyers
  • Picking Towns: Researching School Districts
  • Picking Towns: Living Space and Age of Property
  • Picking Houses: What features do you need? Which Features do you want?

 

Big Purchases Need Money: Get your Financial House in Order

 

Unless you're paying cash for a house, you are going to need to borrow money. If you're going to borrow money, you need to know what it will cost you, and how much you can and/or should borrow.  For most people, contacting a mortgage person makes sense. You'll need to review your credit, and clear up any errors that are getting in the way of the best rates, and review your income and debt levels in order to figure out how much a typical lender would be willing to give you, and what that translate to as far as a monthly payment. Why do this first? The same reason we all don't go the Ferrari dealership first when we're looking for a car. It's not that we don't want a Ferrari, (what, you don't want a Ferrari?), it's that buying one might crimp our style because the cost is so outrageous. Understanding what you're comfortable borrowing - and paying back - is critical to you long-term financial health and your personal happiness. Borrowing effectively, at the lowest-rates you can get, will help you pay more of that mortgage to yourself, and get you started on the path to financial security. In Massachusetts, housing is expensive enough that a mortgage ends up being a kind of "forced savings" in the asset class known as housing, and that's not all bad. After all, it's a

hedge against inflation, and has tax benefits (for now at least). If you're interested in retiring some day, owning a house can be one way to help prepare - if you understand how it works.

 

Picking Towns: The Commute: #1 Concern for Most Buyers

OK, now we know what we can spend. Where should we look? Well, since you likely need to work to pay all that money back, we should probably pick towns that are close to our work environment. This is, in fact, what most people do, even though it might be argued that we'll be in our houses longer than we'll be in our jobs. Commutes are about distance and traffic, and mapping sites and GPS are better at figuring out those things than me, so I'll let you to it. But I do encourage you to look for towns that aren't right on the highway or the commuter rails - you're likely to find better values in towns next to those. I'm not saying you should choose those towns, but they make good comparisons, because there can be substantial differences. They are options, but often get overlooked. Smaller towns like Upton, Mendon, Millis, even Medway are great communities that have good values when buyers are focusing elsewhere.

 

Picking Towns: Researching School Districts

For many, the choice of a community revolves around kids and schools. MCAS scores are a place to start, and are often used by buyers to "rank" school systems, and the towns that run them. They are not the whole story though, and putting too much emphasis on the MCAS scores themselves is not a great idea. Where possible, ask friends and neighbors about their experiences in certain districts, but beware that most people are very biased about the education that they get, in one direction or another, and there are widely different personal philosophies held by people as to what makes a "great school system." One person might view the availability of kindergarten to be important, another might value how nice/new the buildings were, another might have had a run-in with a school committee member and be down on everything. Getting a true evaluation is very difficult, but you can figure out what a school systems reputation is in terms of what people pay for housing in that town. More expensive towns generally have stronger school system reputations, and is at the least an indicator that town members are "school focused".

 

Picking Towns: Living Space and Age of Property

Once we've picked some towns, we need to research what's available for our desired towns in our budget. If we want to live in town A, but in our price range we only see antiques that need a lot of work, and we want younger colonials, than you'll need go back to steps one and two and re-evaluate. Prices vary widely in most areas, and with some basic decisions about what you want, and how much space you need, you'll be able to identify "target" communities that ultimately mark the beginning of your search. Zillow and Trulia are both helpful in this regard, as they offer preliminary statistics on housing affordability and lots of pictures of what is For Sale to give you an idea.

 

Picking Houses: What features do you need? Which Features do you want?

Once you've narrowed down the communities, and gotten an idea about affordability, it's time to do some up close looking. Don't get too discouraged if what is out there isn't wonderful - that's usually the case. The best stuff goes quickly, and is often not as easy to find as the homes that have one issue or another. I'm fond of saying that there are "no bad houses, only bad prices", and I just mean to say that almost all houses provide good function, value, at the right price. Houses with a lot of highway noise aren't "bad houses", but they can be hard to sell, and aren't for everyone. They can however, be great values because of this, allowing home owners to enjoy a home in a community they otherwise couldn't afford. It all depends on your point of view and needs!

 

This one paragraph, of course, is the entry way to the other 450 posts on this blog, about which much is said about how to value housing, improve housing, and manage your money while buying and owning housing. It's far more complex than these basic steps, and if you don't want to be looking for a year (or more), or not understanding what your home is worth, I recommend getting

an expert to help you get educated on the market, and find the right set of trade offs for you.

An Educated Home Buyer is a Happy Home Owner. Read On!

About Matt Heisler

Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.

*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.

March 12, 2012

Sutton, MA - Home Sales Statistics (Mar)

Sutton, MA Housing Market Statistics Overview

Steady as we go in Sutton, for both buyers and sellers, as it has the complete picture of a neutral market - a market where neither buyer or sellers have the upperhand. An HSI in the mid 70's, market time right at 150, and near perfect balance of inventory, sales and recent sales. No real changes from the last report.

 

Find Your Next Home or Check out the Competition! 

 

This is a good opportunity, however, to show how median sales, or average prices, can move a ton - even when prices aren't changing much. Since the last report, the average sale price has fallen 16%. Oh my gosh, prices in Sutton are in a free fall if you look at that number. But when we look at the change in $/sq foot, we see that they moved from 155 to 152, which is under 2%. Which is right? Well, neither is "right" or "exact", but the $/sq foot is much more accurate. (Don't worry sellers, prices aren't in freefall!) The average sales price just tells you more first time buyer bought in the fall, usually smaller, cheaper homes, than families, (larger, more expensive homes). That's a seasonal pattern we often see, and means next to nothing when trying to figure out what property is worth.

 

Sutton Housing Market Statistics - Raw MLS Data

 

 

Neither Home Buyers or Home Sellers

have the advantage in Sutton.

 

  • There are 39 homes (vs. 43 in the last Sutton Real Estate Report) listed as For Sale.
  • There have been 38 houses sold (vs. 42) in the last 6 months, and 20 homes sold (vs. 23) in the last 3 months.
  • There was an Average Market Time of 152 days for just SOLD homes.
  • There is an Average Market Time of 203 days of the homes For Sale.
  • The Dollars paid per Square Foot in Sutton is $152 (vs. $155 )
  • There was an Average Sold Price of $291,862 (vs. 349,000) for sold homes.
  • Sutton, MA has 3 properties (vs. 4) advertised as lender owned/foreclosure (typically foreclosure) .
  • Sutton, MA has 4 properties (vs. 6) advertised as short sales required by lender .
  • Sutton “Hot Seller Index” (HSI): 73 Last Report: 74

 

 

*All statistics are for Single Family Houses and based on data in MLS.

 

Read my Explanation for Massachusetts Home Data Reports.

Our Most Accessed Posts

About Matt Heisler

Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.

Do Good Things Today! Matt Heisler

*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.

Posted in Sutton, MA
March 9, 2012

Sudbury, MA - Home Sales Statistics (Mar)

Sudbury Housing Market Statistics Overview

Ah, Deja Vu all over again! I feel like I've just written this report, but I wrote if for Southborough. Regardless, the HSI is just terrible, probably the lowest it's ever been for Sudbury at a yecky 64. The number of homes for sale is up, but the sales have pulled back, and those two factors are the primary reasons why we've seen the drop. 150 Days for Solds isn't too hot either. But just as in Southborough, the baseline stats are going through a seasonal low, as new inventory comes on, and the early buyers are grabbing property. 32 (about 25%) of the homes listed as "Active" already have buyers and signed contracts - so in about two weeks we'll see 32 new sales added to all the numbers. Sudbury should be back in the 70's by the next report, and perhaps even the 80's, depending on how many sellers come to market this Spring.

 

Advice for buyers: Be aggressive, and it looks like you are. Buyers aren't waiting around to see "what else" might come on the market, if they find something that works for them, they are snapping it up. Interesting to see $/sq foot is down a bit, showing that buyers are driving harder bargains than they did in the fall. That will get tougher as the year goes on - I think - but we'll see.

Sudbury Housing Market Statistics - Raw MLS Data

 

Thinking of moving to Sudbury? The early bird

gets the nice House in this market.

 

  • There are 118 homes (vs. 96 in the last Sudbury Home Sales Report) listed as For Sale. 
  • There have been 84 houses sold (vs. 123)  in the last 6 months, and 40 homes (vs. 47) sold in the last 3 months. 
  • There was an Average Market Time of 150 days for just SOLD homes
  • There is an Average Market Time of 175 days of the homes For Sale
  • The Dollars paid per Square Foot in Sudbury is $213 (vs. $220 ) 
  • There was an Average Sold Price of $596,046 (vs. $696,793) for sold homes. 
  • Sudbury, MA has 2 properties (vs. 1) advertised as lender owned/foreclosure (typically foreclosure) . 
  • Sudbury, MA has 4 properties (vs. 6) advertised as short sales required by lender . 
  • Sudbury “Hot Seller Index” (HSI): 64 Last Report: 76 

 

 *All statistics are for Sudbury Single Family Houses and based on data in MLS.

Read my Explanation for Massachusetts Home Data Reports.

Our Most Accessed Posts

About Matt Heisler

Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.

Do Good Things Today! Matt Heisler

*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.

Posted in Sudbury, MA
March 6, 2012

Short-Sale Hardship Letter Example

Example of Short-Sale Hardship Letter

I wrote this post on short-sale hardship letters, but I thought it might be useful to have an example of a hardship letter here. This letter is fictional, but it demonstrates the no-nonsense, numbers oriented approach that is likely to assist anyone looking to do a short-sale.

 

Related Articles

A well-written letter can speed

the painful short-sale process with the bank.

 

To Whom It May Concern:

 

Please be advised that I am seeking to sell my home, but its current value will not allow me to pay off the loan in full. I am seeking to sell as I have lost substantial income in my last job change.

 

Monthly Income:

$4000 - Wages

 

Monthly Expenses:

Mortgage, Taxes, Insurance: $1800

Healthcare: $600

Childcare: $600

Misc: $500

Food: $400

Heat, monthly: $300

Credit Card Debt: $400

Auto: $200

Gas: $200

Electric: $100

Phone: $100

Total Expenses: $5200

 

At this time, my monthly expenses, without emergencies or other home improvements or maintenance problems, far exceeds my household income. I no longer have savings to assist with the short fall, and don't anticipate a significant increase in income in the near to medium term.

 

Sincerely,

 

Short-sale Applicant

 

 

An attorney can advise you on additional aspects of your situation that might be relevant to explain to the bank, including account balances, and other expenses that may affect your ability to pay the mortgage.

 

 

Remember, a short sale hardship letter is a math problem for the bank. If there's not enough money to go around, and foreclosure is inevitable, they have a much greater incentive to do a short-sale, and recoup what they can.

 

Things Not to Say in Your Short-Sale Hardship Letter

This is just a partial list, but:

    • Don't Make Threats. Things like if "you don't approve this short-sale I'm going to trash the house" or "you'll have to drag me out if you foreclose kicking and screaming" aren't likely to help you out of your situation. Although it may feel very frustrating, and desperate, to be in a situation where you need to be out, making things emotionally difficult for the people who are handling your petition is not going to make it easier. Most people respond to threats by being defensive, and less helpful, then they would otherwise be, and that's no different here. Although it often feels as if there's no one to talk to at the banks who has anything but a tin-ear for your troubles, there are people there with real feelings. Making the situation easier for them is likely to result in a better outcome for you.
    • Long stories about what happened. Most people end up in a short-sale through a series of gut-wrenching events. Although your story is ultimately unique, the end result is the same - you can't pay the bank what you owe them, and you need to sell. Focus on where you're at, and not how you got there. Keep It Simple.
    • Information about how unhelpful the (fill in name of lending institution is) and how stupid everyone who works at (same name of lending institution). Insulting the people who are making decisions about your future is never a good idea, and that holds true here.

 

Also remember, that I am not an attorney - and this is not legal advice. Your situation may be different, and should be addressed at an individual level.

An Educated Home Buyer is a Happy Home Owner. Read On!

About Matt Heisler

Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.

*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.

Posted in Home Selling
March 5, 2012

Shrewsbury, MA - Home Sales Statistics (Feb)

Shrewsbury, MA Housing Market Statistics Overview

 

As we've seen in many other towns, lack of inventory is strangling the market in Shrewsbury. Transactions are falling quickly, but with only 140 properties on the market, transaction volume has little choice but to retreat.

 

Having said that, there does appear to be a little weakness in the Shrewsbury Market that is not related to the transaction volume. $/sq foot is down, average sold price down a bit, so things are looking a little on the bleaker side at the moment. The 149 days is just around a neutral market, but where we're used to seeing Shrewsbury as one of the better markets, it's falling back to the middle of the pack.

 

 

The bank impacted inventory is a wash in this report. Foreclosures are down by one home, and short-sales are up by one home, so not much to report on that front. Foreclosures represent just 2% of inventory, but overall bank impacts are at 10%.

 

Shrewsbury, MA Housing Market Statistics - Raw MLS Data

 

 

It's not the snow that's keeping buyers away

in the Shrewsbury Single Family Home Market

 

  • There are 140 homes (vs. 151 in the last Shrewsbury Real Estate Transaction Report) listed as For Sale.
  • There have been 149 houses sold (vs. 187) in the last 6 months, and 78 homes sold (vs. 94) in the last 3 months.
  • There was an Average Market Time of 149 days for just SOLD homes.
  • There is an Average Market Time of 171 days of the homes For Sale.
  • The Dollars paid per Square Foot in Shrewsbury, MA is $167 (vs. ) $175
  • There was an Average Sold Price of $393,839 for sold homes.
  • Shrewsbury, MA has 3 properties (vs. 4) advertised as lender owned/foreclosure (typically foreclosure) .
  • Shrewsbury, MA has 11 properties (vs. 10) advertised as short sales required by lender .
  • Shrewsbury, MA “Hot Seller Index” (HSI): 76 Last Report: 81

 

 

*All statistics are for Single Family Houses in Shrewsbury, MA and based on data in MLS.

 

 

Read my Explanation for Massachusetts Home Data Reports.

Our Most Accessed Posts

About Matt Heisler

Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.

Do Good Things Today! Matt Heisler

*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.

Posted in Shrewsbury MA
March 2, 2012

Northbridge, MA - Home Sales Statistics (Feb)

 

Northbridge, MA Housing Market Statistics Overview

Northbridge offers a report that's little changed from the last report. We have some new construction moving slowly through the statistics, and the market is unlikely to tighten until that's all absorbed. (There's about 24 new construction homes in the data). We'll probably see a bunch of those go late this spring, but for now, they push all the numbers up, making the HSI fall, and putting pressure on seller's prices. Buyers can use the market softness to get a little more push behind their offers, as everyone needs to compete with the newer subdivisions.

 

 

Things are looking better on the bank side though, with drops in the foreclosures on the market and the short-sales down significantly as well. Good to see, they were on the high side in Northbridge.

 

Northbridge Housing Market Statistics - Raw MLS Data

 

An Early Spring may Bring

Home Buyers as well as Flowers this year.

 

  • There are 84 homes listed as For Sale (vs. 81 in the last Northbridge Real Estate Data Summary).
  • There have been 54 houses sold in the last 6 months, and 26 homes sold in the last 3 months.
  • There was an Average Market Time of 121 days for just SOLD homes.
  • There is an Average Market Time of 262 days of the homes For Sale.
  • The Dollars paid per Square Foot in Northbridge, MA is $141 (vs. ) $147
  • There was an Average Sold Price of $237,254 for sold homes.
  • Northbridge, MA has 3 properties (vs. 5)  advertised as lender owned/foreclosure (typically foreclosure) .
  • Northbridge, MA has 8 properties (vs. 10) advertised as short sales required by lender .
  • Northbridge, MA “Hot Seller Index” (HSI): 67 Last Report: 67

 

 

*All statistics are for Single Family Houses and based on data in MLS.

 

 

 

Read my Explanation for Massachusetts Home Data Reports.

 

Our Most Accessed Posts

About Matt Heisler

Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.

Do Good Things Today! Matt Heisler

*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.

Posted in Northbridge MA