It’s human nature to want to get a good deal, especially on a big purchase like a new home. Even more so if it’s your FIRST home. So many things go into determining the price of a home, and right now with interest rates being low, prices stabilizing, and the $8,000 tax credit for first time home buyers still in play, you can potentially get the deal of the century. Arlington MA is once again having a booming spring market, and it’s a great time to buy your first home. The past few years have proven that Arlington is one of the safer places to invest in real estate.

These circumstances may not line up again for a long time (if they do the country is in worse shape than we thought), so if for all the other ‘right reasons’ you are considering buying a home right now, don’t wait!

If you have any questions (either as a buyer or a seller) about the home buying process or the current tax credit, contact me today to discuss your situation. This may be the best time in history to buy a home. But you do need to have a signed Purchase and Sale contract by April 30, and close the sale by June 30, 2010.  Time is ticking, call me today, and let’s get started!

FIRST TIME HOME BUYER SEMINAR – at Bowes GMAC in Arlington – Wed Feb 24   7-8:30pm  FREE!

Buying your first home is no time to take chances, go it alone, or wing it. Here is your opportunity to learn the process of buying from First Time Home Buyer experts in Arlington. Taught by Bija Satterlee (ABR, Realtor) and Michael Tanionos (senior lender with Well Fargo Home Mortgage), these Seminars cover the basics of financing, interest rates, credit scores, and programs for buyers with varying circumstances.

The process of buying a home begins with a self assessment. Get in on an exercise designed to help you define your criteria. From there we go through a sample home purchase, from Offer to Closing. We have found that buyers who attend these Seminars have a much smoother home buying experience than those who “wing it”!

Seating is limited – RSVP today to bija@dreamhomearlington.com

If you miss this one, see schedule of upcoming Seminars here: http://www.dreamhomearlington.com/seminars.php

First Time Home Buyers are still looking for solid advice and guidance, learning how to buy a home in Arlington MA or any surrounding area. All are invited to attend the January 26 First Time Home Buyer Seminar, presented by Dream Home Arlington and Wells Fargo Home Mortgage. Learn HOW to buy a home before you find your Dream Home!

• When: Wednesday January 26
• Time: 7 – 8:30pm
• Where: Bowes GMAC Real Estate Office – 1010 Mass Ave, Arlington
• Cost: Free!

Packed with insider knowledge of home-buying, timely information about the local Arlington and Middlesex County real estate market, and financing guidance, this is a “how-to” persons dream come true. We’ll cover home-buying in a step by step process, from establishing your Arlington Dream Home criteria, through Financing and pre-approvals, to Open Houses, Offers, Inspections, and on to Closing Day.

Taught by Arlington’s finest First Time Home Buyer Specialists (Realtor and ABR Bija Satterlee from Bowes GMAC Real Estate) and Mike Tanionos (Senior Lender, Wells Fargo Home Mortgage), you will discover:

• How to get a “good buy” on your first house or condo in Arlington
• How to identify and find the house or condo of your dreams
• How to get the best Financing and interest rate for your Arlington MA home purchase
• How to get the advantages of having a dedicated Buyers Agent
• How to make your Offer stand out from other Buyers, and more!

We have already seen plenty of buyers scouring the limited inventory of homes for sale in Arlington and surrounding areas like Lexington, Medford, Bemont and Cambridge. NOW is a great time to become a savvy buyer. Register for the January 26 First Time Home Buyer Seminar now. And the best part? It’s free!

Read Testimonials of some of our Seminar graduates!

email bija@dreamhomearlington.com to register for the Seminar. Seating limited, Register Today!

The SMART people were out buying homes in Arlington in 2009! All year the media was doom and gloom, so it was almost embarrassing to be telling people “we are having a GREAT YEAR in Arlington real estate.” By the end of ’09 the total number of sales in Arlington was 496, compared to 482 in 2008.  And the average sale price of a single family home had stayed essentially THE SAME.

First Time Home Buyers did especially well with the Stimulus Tax Credit of $8,000.  They were able to lock in interest rates at historic lows (below 5%), and sellers were motivated to sell, partly due to all the uncertainty, and fear prices would be dropping further.  The numbers show clearly that the market has stabilized for now in Arlington.

Want to know the cheapest and most expensive homes of 2009?

2009 Single Family homes (246 sales), the least expensive home: $252,000 (69 Sunnyside) with 74 days on market. The MOST expensive single family home sold in Arlington sold for $1,009,597. (2-A Colonial Drive). New Construction. Average Sale Price for Single Family Homes was $510,000.

2009 Condos (246 sales), the least expensive one sold for $102,000 (11 Old Colony Lane U3). The most expensive condo was 57 Winter Street, and sold for $678,000, also new construction. Average Sale Price for Condos was $350,000.

2009 Multi Families (37 sales), the least expensive one was 106 Paul Revere Road, a two unit (one bedroom each) house, selling for $295K. The most expensive multi family to sell in Arlington was 11-13 Pierce Street, selling for $700,000. Average Sale Price for Multi Family Homes was $519,000.

Sales accelerated in the last two months of the year, which was amazing! In 2008 November and December combined had 46 sales – typical for that time of year. This year there were 94 sales in the same time period. Spectacular numbers, for anyone counting!

See Recent Home Sales in Arlington MA here.

So what’s up with Arlington Real Estate in 2010?? With mortgage rates that are still historically low, homes priced affordably, and the home buyer tax credit, we should see another great year of activity and great deals for home buyers. According to projections from the Mortgage Bankers Association (MBA), sales of existing homes are expected to increase by more than 10% next year. In addition, median home prices will move a little higher. Forecasts from the National Association of Realtors (NAR) and from Fannie Mae are generally consistent with the outlook from the MBA.

If YOU have been considering “getting out of renting” then hopefully those pioneers of 2009 who have blazed the trail have shown it is a great time to buy real estate. Learn more about it at a First Time Home Buyer Seminar, or contact me directly to discuss your goals and questions. In the mean time, start dreaming up the details of your Dream Home!

What Was Different about This August in Arington?

Arlington is usually a slower month for real estate (usually less sales due to less inventory for buyers to choose from). This was true yet again in August ’09. And yet defying the doom-n-gloom of the media, and the temptation of good Beach Days, Arlington real estate broke some of last year’s records. Here are some numbers:

• Total CLOSED SALES were 59 in August ’09 (compared to 55 in August ’08)
• Condo sales were UP: 26 this year (23 last year)
• Condo prices were DOWN: average of $332K  ($354K Aug 08)
• Single family home sales were UP: 32 sales  (29 sales in Aug 08)
• Single family home prices were UP: avg of $522K ($502K in Aug 08)

We seem to be back on a roll, and with so many First Time Home Buyers out hoping to cash in on that $8,000 Tax Credit, we continue to see high numbers of buyers attending Open Houses, even on beautiful days in August.

This was a great August in terms of a healthy turnaround of the market, and the ‘bottom’ has hopefully happened and we are moving out of it. Ted Kennedy has moved on to greener pastures, kids are back in school, the days are getting shorter, and time is ticking for First Time Buyers hoping to get the $8,000 Tax Credit. Make sure YOU don’t miss the deadline. Learn all about it at the next First Time Home Buyers Seminar at the Bowes GMAC Real Estate Office Wednesday September 23. 7-8:30pm. Register by email to bija@dreamhomearlington.com.

BOTTOMS-UP PARTY!  “Have we hit the bottom of the market yet?”

Still dreaming of owning your own home? If you are a potential First Time Home Buyer and you have questions about the process of buying,  come join us for a special seminar and brunch Sunday morning June 28th at the Bowes GMAC Real Estate office in Arlington. In addition to a delicious brunch, learn about the market, the important steps to safely buying your own first home, and get your questions answered!

Senior lender Michael Tanionos of Wells Fargo Home Mortgage will speak about financing options, programs, the importance of credit scores, and more. Learn tips on how to improve your credit score and potentially save thousands of dollars.

Bija Satterlee, Realtor and Accredited Buyer’s Representative, will take you through the home-buying process, de-mystifying some terms and misconceptions. Learn the importance of getting your ducks in a row BEFORE you stumble upon your dream home, the strategy for knowing how much to offer, and understand the critical elements you absolutely need in your offer to protect you.

Those seeking the $8,000 tax credit for First Time Home Buyers have until November 30, 2009 to close on their new home. This summer and fall may be busier than usual with those first-timers out shopping in time to beat the deadline. We are dedicated to educating people in the process of buying, and being a resource for the various services and professionals necessary to complete a home purchase.

It takes time to process all the information, learn the market, and feel confident with your decisions. So if you  have been thinking about buying your first home, or have questions about the local customs about real estate transactions, join us Sunday June 28 from 10:30-12 noon for a wonderful brunch, and to learn the secrets of successfully buying your first home!

RSVP TODAY – Space is Limited. Email bija@dreamhomearlington.com. We look forward to meeting you!

Your Arlington, MA home may be the single biggest investment you ever make.

It makes sense to protect it in every possible way. When you Close on your new home, the lender will require homeowner’s insurance to protect against fire, theft, and wind damage. You may be required to get flood insurance if in a flood zone. Title insurance is not actually required, but it is as important as the other types of insurance you will purchase. It protects you against title hazards, and can ultimately protect your family’s investment.

When you buy a home, you are purchasing the title to the property – the right to occupy and enjoy the property. That title may be limited by rights and claims asserted by others, which may limit your use and enjoyment of the property and even bring financial loss. Title insurance protects against these types of title hazards. Unlike other types of insurance, it is purchased with a one-time premium, before Closing on the property.

Save 10% on Title Insurance by Attending Seminar April 23

Learn more about title insurance, and many other topics at the upcoming First Time Home Buyer Seminar this Thursday, April 23, at Bowes GMAC Real Estate Office. Participants will receive a certificate for 10% off Title Insurance with First American Title Insurance Company. A representative will be present to answer your questions. This evening is presented free of charge, and runs from 7:00pm – 8:30pm. RSVP by phone (781) 354-4835 or email bija@dreamhomearlington.com.

The March Market Report for Arlington is a mixed bag! We actually had about half as many closings as the same time last year. In March 2008 there were 25 Closings (13 single family, 9 condos, 3 multi families) and this year there were just 11 Closings (4 Single family, 6 condos, and one multi family). The spring market has been steadily building, and with time hopefully will become the robust season we are accustomed to in Arlington.

Behind the Scenes

One of the most interesting parts of the market is the slightly mysterious Under Agreement category. Until the property Closes, there is no telling what the property actually sold for. You only can see the asking price, the market history, price reductions, and days on market. So a property listed at $650,000 could be under agreement for $450,000, and you wouldn’t know it until it closes and posts as a SOLD. I love looking at the Under Agreement category in Arlington because it shows the level of activity, and those are Closings piling up for the future. Then when they closes you get to see how much they actually sold for. Sometimes it’s a surprise!

Ready for the GOOD News?

Currently there are 70 Under Agreement properties in Arlington. In addition, there are 21 ‘flagged’ properties. If you remember, those are properties that have an accepted offer, but are still allowing showings and open to backup offers. A typical closing takes 45-60 days, so we can keep our fingers crossed that of those 70 Under Agreement homes, at least 2/3 will close in April (and yes I know I mentioned it in a previous blog, but this is important stuff!). That would be 46 closings, which is EXACTLY the number of closings in April of last year. EQUAL to last year! That is the good news!

Now I don’t have a crystal ball, but given the number of qualified buyers attending Open Houses, and the low interest rates, I see a bright future for the rest of the spring market. One of the limiting factors is actually the level of inventory. It seems that homes that are attractively priced sell quickly, making the inventory more limited. It is a supply and demand situation. Stay tuned to the ‘crystal ball’ Arlington MA Real Estate Blog for the latest updates. Easter is over, the weekend was good for everyone to rest, and now the buyers and sellers can launch back into action. The next week should be interesting, with all the pent up energy!

If YOU are ready to jump into the market, get some quick education, by attending my First Time Home Buyer’s Seminar April 23 from 7:00-8:30pm. Held at the Bowes GMAC Office, the seminar is free, and open to the public.  Discover how to take advantage of low interest rates, tax incentives, and the help of your own Buyers Agent. Register by sending me an email today.

Arlington says good bye to a dear friend

Mickey Coyne passed away Sunday morning, April 4th, leaving friends and family stunned and saddened. He was the beloved husband of Maureen (Fitzmaurice) Coyne. Known for his quick wit, love of football (the soccer kind), and Irish humor, he was a wonderful part of life in Arlington. Everyone has their own memories and stories of “honest Mickey”; our lives are richer for having known him.

He has been in real estate in Arlington for 30 years, the last 20 at Bowes GMAC, and part of the Bigelow-Coyne team since 2005.

Mickey was born in County Roscommon, Ireland. He became a U.S. citizen and settled in  Arlington in 1968. In addition to his wife, he is survived by his three children Michael W. Coyne of Arlington, Fiona Mary McKenna and husband Mark A. McKenna of Billerica, and Thomas C. Coyne and fiancé Sara M. Cote of Woburn. He was brother of Christopher Coyne and his wife Josephine and Philomena “Baby” McGovern and her husband Michael, all of Ireland. He was brother-in-law of Thomas Fitzmaurice and Teresa Canning and her husband Noel, all of Ireland.  And, he was also survived by many loving nieces and nephews. He was brother in law of the late Seamus Fitzmaurice and Bridie Harkins.

Some professional affiliations include:

• National GMAC Premier Service Diamond Award, 2007
• Premier Service Certified for GMAC
• Former Trustee, North East Divisional Board, Gaelic Athletic Association
• Former Treasurer of the North American County Board of the Gaelic Athletic Association
• Soccer Coach, Arlington Town Traveling teams 1980s.
• Personal Arlington Resident since 1968
• Knights of Columbus, member of Arlington Council 109

The Wake will be held at Keefe Funeral Home in Arlington on Monday April 13, from 4-8pm. For those who wish, donations in his memory may be made to the Fidelity House, 25 Medford St., Arlington, MA 02474. To send online condolences, visit www.keefefuneralhome.com

Services will be Tuesday April 14 at St. Agnes Parish, at 10:00am.