Western Mass Homes Lesley Lambert

Selling Your Home

Lesley Lambert, Senior Real Estate Specialist, REALTOR in Western MA

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I wanted to share my newest real estate designation through the National Association of REALTORS, I am now a Senior Real Estate Specialist.

As you may know, I am on the board of directors for the Friends of the Westfield Senior Center, a position that I care deeply about. I am also a volunteer at the Senior Center, offering my time once a month to answer real estate questions and have held seminars on downsizing.

This designation provides me with training, tools and expertise that is specific to assisting the older generation with their real estate needs. The following video will help to describe this role:

https://www.youtube.com/watch?time_continue=1&v=clJCUaTTsPg
What does a SRES designation mean for you?

A Seniors Real Estate Specialist® (SRES®) is a REALTOR® who is uniquely qualified to assist seniors in housing sales and purchases. The SRES® designation is awarded only to REALTORS® who have successfully completed a series of educational courses on how to help seniors and their families with later-in-life real estate transactions.

If you are looking for a Western MA REALTOR to assist you or a family member with this type of real estate transaction, please give me a call! Lesley Lambert, Western MA REALTOR with Park Square Realty and Senior Real Estate Specialist 413-575-3611.

Question: What Quarter of the Year Do You Think is Best in Western MA Real Estate?

Vacations are over. The kids are back in school. Life takes on a routine and people start thinking about making a move before the end of the year.

Question for you readers: what quarter of the year do you think is the best for real estate in Western MA?

Take a look at this short video to learn the answer to that AND to why you may want to get your house on the market NOW!

The real estate market in Western MA post Labor Day is set to be HOT HOT HOT!

So, if you watched the video you now know that the fourth quarter is traditionally the best quarter in Western MA real estate.

What that means is the houses that hit the market NOW are the ones that will close in the fourth quarter. The buyers are out there, if you are ready there is no reason to wait.

Let’s get together and discuss my unique marketing plan and what I can do for YOU to get you moved before the end of the year!

Lesley Lambert, Western MA REALTOR with Park Square Realty 413-575-3611

Think you should wait until Spring to sell your Western MA house? WRONG!

Here we are in the thick of winter, end of January with a couple more months of cold ahead of us in Western MA. You may be considering selling your house and are thinking to yourself that you want to wait for Spring because that is the best time to sell your home.

Well, you are wrong.

Now, if you can’t get your house ready for the market until Spring, then that is an issue and Spring will be the right time for you, BUT if your house is ready to go now then NOW is the best time!

In this Facebook Live video from earlier today I go into detail as to why now is the best time to sell your Western MA home:

If you are considering the idea of making a move, let’s get together to chat about the process. Meeting with me is painless and free and I love sharing my nearly 30 years of expertise with people!  Get in touch-

Lesley Lambert, Western MA REALTOR with Park Square Realty 413-575-3611

The Consumer’s Guide to Hiring an Amazing Real Estate Agent

The Consumer’s Guide to Hiring an Amazing Real Estate Agent

 

When you’re buying or selling a home, it’s crucial to work with a qualified real estate agent. Not just a professional, but an amazing agent and a market expert. So how do you ensure you’re hiring an amazing real estate agent?

 

There are currently more than two million real estate professionals in North America.1,2 With so many options to choose from, how does a prospective home buyer or seller choose the right agent or broker? According to the National Association of Realtors®, trust and reputation are the top deciding factors consumers use when hiring an agent.3

 

But how do you measure trust and reputation … and what criteria can be used to help you make your decision?

 

In this guide, I’ve outlined the top attributes that amazing agents possess, as Ill as the questions you can ask to make sure you’re working with the right market expert to achieve your real estate goals.

 

5 ATTRIBUTES OF AN AMAZING AGENT

 

As I mentioned above, not all real estate professionals are the same. And it’s easy to be overwhelmed by the options and information about working with real estate professionals to buy or sell your home. In fact, many real estate markets are oversaturated with agents.

 

To help you understand what makes top agents and market experts stand apart from the competition, following are five key attributes of an amazing agent:

 

  1. A Pricing Specialist

 

If an agent has their real estate license, they know the basics of the transaction process. They know what goes into buying and selling a home. However, there’s a difference between knowing the process and navigating it for an ideal result. This ideal result often means buying or selling a home for the best price.

 

For buyers, amazing agents have a strong understanding of market trends, competition, and how to make your offer attractive to sellers. They can help you identify and secure a deal to ensure you get the home you want, within your desired budget.

 

If you’re selling a home, market experts have experience pricing homes optimally for the market, and creating pricing plans to minimize the time spent selling the home. This will help you sell for your desired price, and avoid costs like additional mortgage and utility payments.

 

Takeaway: Whether buying or selling a home, pricing can be tricky. Market experts can help navigate best-possible pricing strategies, and also secure the home you want within your budget.

 

  1. An Effective Time Manager

 

It’s common to underestimate the amount of time it takes to buy or sell your home. The average real estate agent may not be utilizing the latest tools and technology to make the transaction easier and more cost effective for their clients. Market experts have tools and strategies at their disposal to minimize the amount of time you spend on the process.

 

For sellers, market experts can make sure you only deal with qualified buyers, not the “window shoppers” who can waste your time. I also utilize the latest marketing practices to advertise and price your home effectively, ensuring it gets sold quickly.

 

When looking to buy a home, inexperienced agents may waste your time by showing you homes that are not a good fit for you. A market expert knows how to prioritize your needs and wants to find you the ideal home within your budget. They also know how to spot “red flags” and can steer you away from homes that are likely to turn up major issues in a real estate inspection, saving you time and money.

 

In addition, Ill-networked Realtors can gain access to the hottest listings before many websites do. Their extensive professional networks can help identify “pre-list” homes before they’re officially on the market. This can be invaluable in a highly-competitive real estate market.

 

Takeaway: Even a Ill-intentioned agent may not have the skills, tools or technology to make the experience easy for you. There are lots of hidden activities that may take up unexpected time, and a market expert will save you time and energy.

 

  1. A Market Insider

 

While most agents can pull market stats about a neighborhood, community or city, they may not understand important trends or developments that would affect your transaction. These can include the state of the school district, issues with a homeowner association, new businesses in the area, zoning rules or trends in home prices.

 

Market experts live and breathe local real estate and know the trigger points for buying and selling in this market. I also stay current on effective marketing and negotiation practices, resulting in our track record of success.

 

For sellers, I understand what features of your home and neighborhood are assets in the selling process. And for buyers, I share a deep understanding of market factors, including school and neighborhood quality, crime statistics, speed of sales and more.

 

Takeaway: Getting relevant and specific market knowledge can be difficult and time consuming, which is why many real estate agents don’t have it. Whether you’re buying or selling a home, an experienced real estate agent is often the best source of information about a city, neighborhood, or even street … I’re literally conducting market research every day.

 

  1. A Strong Negotiator

 

Amazing agents truly set themselves apart in their ability to negotiate. Unfortunately, a large portion of agents don’t commit their full time to increasing this key skill.

 

Real estate negotiations can be challenging, even for seasoned professionals. It takes skill, experience and knowledge of how to fight for your client’s best interests. While any agent can enter negotiations to buy or sell a home, they may not know the effective strategies to exit those negotiations with the result you want.

 

Experienced Realtors focus on negotiation as a key skill. I understand what to do before entering negotiations (establishing the upper hand to set up the best outcome), as Ill as during the process (when to offer or accept concessions).

 

Takeaway: Many agents can feel the stress of the negotiation process, and may agree to terms of the buyer/seller. Working with a market expert will help ensure you get the best deal, not just the fastest deal.

 

  1. An Effective Closer

 

Closing a deal fast is often a good thing. For buyers, it means you found the home you wanted quickly. For sellers, it often means you can avoid the added expenses of mortgage and utility payments, and maximize the value of your home sale.

 

However, an agent solely focused on speed can make decisions that aren’t in your best interests. Top real estate professionals know how to not only achieve your real estate goals quickly, but in the right way to avoid potential pitfalls.

 

Just like negotiations, the paperwork and process of closing a real estate transaction are complicated. And they can be overwhelming for the average agent who hasn’t handled a lot of transactions. Sales contracts, property disclosures, occupancy agreements and even lead paint records need to be executed with precision. Your agent not only needs to be familiar with these, but also stay current on any changes in requirements or regulations.

 

Market experts have a strong understanding of real estate contracts, timelines, clauses and contingencies within the closing process. In fact, avoiding pitfalls during the closing process is where many sellers find an experienced Realtor is a huge asset.

 

Takeaway: Many agents don’t have a firm understanding of contracts. Because a real estate transaction often involves a significant investment, even a small mistake can mean serious trouble. With that in mind, it’s often best, and most responsible, to work with a true market expert.

 

 

5 QUESTIONS TO ASK YOUR REAL ESTATE AGENT

 

So how do you know if you’re working with an amazing agent?

 

The first step would be to “shop around.” Many people work with the first agent they come across without a firm understanding of their level of experience. It’s always a good idea to interview a number of agents before selecting one. If you’ve gotten referrals from people you trust, then you may only need to interview 2-3 agents.

 

However, it can be tough to know what to ask in the interview process. Here are some questions that can help you qualify the best agent to help you achieve your real estate goals:

 

  1. Can you send me some information about yourself?

Look for professionalism and consistency. What are their professional accomplishments? Also, try to identify how they approach their work. Look for a business person who has a strategy and solid support system. If they’re a neIr agent, ask about their team’s dynamic and accomplishments.

 

  1. How long have you been in real estate?

The average Realtor has 10 years of experience4. But while longevity is important, even more telling are the number of transactions they have closed or been involved in. So feel free to also ask: “How many homes have you sold in this area?”

 

  1. What will you do to keep me informed?

Do you want daily or weekly reports from your agent? Will the agent be able to meet these expectations? Determine how much communication you want, and then find an agent who will give you the attention and time you want and deserve.

 

  1. Can you provide me with further resources I may need?

From market reports and pricing trends to school performance and crime statistics, top agents have resources at their disposal. In addition, market experts have built strong relationships with their extended team of professionals, and can often get expedient service or be able to “cash in a favor” for you should a need arise.

 

  1. Seller only: Can you share with me your plan to market my property? Many agents will simply put your home in the MLS and wait for it to sell. An amazing agent should have a detailed plan of how to get your home exposure on social media, to their local networks, and more.

 

 

GET STARTED

 

Now that you’re armed with the 5 Attributes of Amazing Agents and the Top Questions to ensure you work with the best possible real estate agent, you’re ready to start interviewing agents.

 

I’d love an opportunity to win your business. Schedule a free consultation with me to find out how true market experts can help you achieve your real estate goals!

 

Lesley Lambert, Western MA REALTOR with Park Square Realty 413-575-3611

Sources:

  1. National Association of REALTORS – https://www.nar.realtor/field-guides/field-guide-to-quick-real-estate-statistics
  2. Financial Post – http://business.financialpost.com/personal-finance/mortgages-real-estate/canada-housing-bubble-agents/wcm/b49d4e3a-bd8d-4d1c-9566-bd3d80c8e23a
  3. National Association of REALTORS –

https://www.nar.realtor/reports/highlights-from-the-profile-of-home-buyers-and-sellers

  1. National Association of REALTORS – https://www.nar.realtor/field-guides/field-guide-to-quick-real-estate-statistics

The Compound Effect: Building Your Household’s Wealth in Western MA

The Compound Effect: Building Your Household’s Wealth            in Western MA

Wealth is within reach for many people; however, according to a recent study, 63 percent of Americans said it’s not likely they’ll become rich.1 While younger people are more likely to say they’ll achieve wealth one day, only 34 percent of people aged 30 to 49 and 21 percent of people aged 50 or older say the same. There is no secret to becoming rich: it takes time, sacrifice and good financial sense. Here are a few ways to build your household’s wealth.

Let Compound Interest Work for You
Compound interest is your interest earning interest. While the concept may work against you when you take out a loan to buy a car or use your credit card, it works in your favor when you’re saving money. For example, if your savings is growing at a rate of four percent, your investment will double in eight years and quadruple in 16 years. Your money will grow exponentially the longer you save: the more money you’ve saved, the more your money will grow.

Tap into Your Western MA Home Appreciation
Experts expect home prices to appreciate 3.24 percent and grow by 21.4 percent cumulatively.2 If a homeowner purchases a home this year for $250,000, they could earn more than $40,000 in equity over the next five years. Although the home value of the average American family’s home is $165,000, home values vary by market.3 If you’re curious about the value of your home, give us a call!

Build Equity in Your Western MA Home
One of the most compelling reasons to own a home is it allows you to build wealth over time. According to one study, the average homeowner has a net worth of $200,000, which is 31 to 46 times the net worth of the average renter.4 Saving for a down payment, especially if you plan to put down more than 20 percent, helps you adopt good financial habits. The more you put down when you buy, the higher your share of equity when you close. Although for the first five to seven years, the majority of your payment will go toward interest, over time more money will be applied to the principal. There are many tools online that calculate your current and future equity in your home, including this one here.

Build equity sooner by choosing a shorter amortization term. While your payment may be higher, you’ll likely qualify for a lower interest rate and will pay less interest over the life of the loan.

Build Equity Faster in Your Home
Mortgage Term 30 Years 15 Years
Loan amount $118,000 $118,00
Months to pay 360 180
Annual percentage rate 4.0% 3.0%
Monthly payment $563 $815
Total interest $84,806 $28,680
Interest savings – $56,126
Source: Federal Reserve Bank of Dallas, Building Wealth: A Beginner’s Guide to Securing Your Financial Future

Pay Down Your Mortgage…or Not
Many homeowners grapple with whether or not to pay down their mortgage. On one hand, if you pay it down, or pay it off early, you’ll save money on interest, which you can use to make other investments. On the other hand, if your goal is to be debt free, it’s better to pay off your higher-interest debt, such as credit card debt, first before paying down your mortgage debt. Additionally, if you’re saving for retirement, putting extra cash toward your retirement accounts will help you build a nice nest egg to enjoy later on.

If you decide to pay off your mortgage sooner, here are a few ways to do so:

1. Pay more money at the beginning of your amortization period and apply it to your principal.
2. If you receive a tax refund or other windfall, apply it toward your principal.
3. Make one extra payment each year. You’ll save money on interest and pay your loan off sooner.
4. Add an extra $50, or another amount you can afford, to the principal of your payment each month.
5. If you locked into a 30-year fixed loan, refinance to a shorter, 15-year fixed loan. Your payment may be higher, but you’ll pay it off sooner.

Your financial advisor can help you decide if paying off or paying down your mortgage is right for your goals.

Purchase Investment Property ADVICE FROM LESLEY LAMBERT, INVESTMENT EXPERT
Investment properties provide passive income to your growing financial portfolio. More than 25 percent of Americans say real estate is the best way to invest money you may not need for the next 10 years.5 While many people flip houses to make money—that is, they buy a home at a low price, fix it up and sell it quickly—others purchase multifamily properties to create monthly cash flow to save or to reinvest in other properties.

The longer you own a property, the better investment it becomes as you’ll continue to build equity. While rental costs rise with inflation, your mortgage will remain the same. The best part? Once you pay off the mortgage, your cash flow will increase. Remember to create a budget for maintenance each month, between 10 to 20 percent of the rent you receive, or more if the home is older. This will help you save more money in the long run and allow you to prepare for unexpected repairs.

“There are tax benefits to owning investment property as well,says Lesley Lambert, Western MA REALTOR.” “You may be able to claim deductions for depreciation, as long as it fits within the guidelines; repairs, travel expenses, interest and more. If you’re thinking of purchasing investment property, talk to your tax professional to get the details.”

Achieve More Wealth by Creating Financial Goals
Setting a goal will help you achieve your desired level of wealth. Once you achieve one goal, reassess and set the bar higher.

1. What is your idea of wealth? Your idea of wealth will change as you earn more money. That’s why it’s vital to set goals along the way. What do you want your net worth to be in 5 years, in 10 years and in 20 years?

2. Write down your short-term and long-term goals. Once you have determined your goals, write them down. This is the first step towards getting your desires out of your mind and into motion and it will be easier to refer to them later on.

3. Develop a budget to help you reach these goals. A budget not only helps you understand where your money goes each month, it may also prevent you from overspending. That way you can have more money to save and invest.

Your Budget
Income Earned $
Investments + $
Total Income = $
Daily Expenses – $
Monthly Bills – $
Total Available for Investment =

To increase the amount you can invest, make adjustments to your daily spending and monthly bills, if possible. Look for opportunities to save money and transfer that savings into your accounts.

Here is a detailed report for you to read and download:

It’s never too late to begin building your family’s wealth. Whether you’re interested in buying a first home, upgrading to a larger home or are thinking of renovating, we have you covered. Give us a call and we’ll answer all of your real estate questions and offer suggestions to help you increase the value of your home.

Lesley Lambert, Western MA Real Estate Expert

Park Square Realty 413-575-3611

Sources: 1. BankRate.com
2. Pulsenomics, Home Price Expectation Survey Q4 2016
3. Statistic Brain, August 1, 2016
4. National Association of REALTORS, Economists’ Outlook, September 8, 2014
5. The Motley Fool, July 30, 2016