Monthly Archives: January 2019

Introducing Our New Logo!

 

 

We’re excited to share with you our new logo.

 

It’s a concrete signal to our customers, clients, and friendly competitors that real estate is more than something we dabble in. It’s not a part time job for us, but a full time commitment to provide the best advice and customer service possible for those who choose to make their move with Mari.

 

Mari Sennott and Associates is our business.  We’re passionate about helping people reach their Cape Cod real estate goals. Whether you’re a first time home buyer, looking to up size, or maybe move to something a little smaller. we’re here to team with you.

 

Contact us via the comment section or by calling 508-568-8191. We’d be happy to meet with you.

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Our new logo was designed by Jennifer Adler of Survival by Design.

 

Jenn and Hank worked together in the Communications Department at United Way of Rhode Island.  Hank left UWRI in 2008, but has continued to work with Jenn on a number of design projects, including several for Enel Green Power North America, a division of Italy’s Enel Green Power, where he was head of external relations and communications.

 

She’s very talented and creative with experience in a number of areas. (Jenn also has a cool line of greeting cards that are not your typical Hallmark store variety.)

 

Please check out her work at www.survivalbydesign.net.

 

We highly recommend her.

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Whether you are thinking of selling your house or buying a home, today’s real estate headlines can be confusing – perhaps even concerning. What is actually happening with mortgage rates? Are home values dropping or are they just rising at a slower pace? What impact will the economy have on the housing market?

 

According to industry resource KCM, if you are a buyer or seller (or both), you need to know what it will mean to your family if you go ahead with the move. You need to understand three things:

 

  1. What is happening in the housing market right now?

You must get past those fear-mongering headlines and gain a deep understanding of what is truly happening. How strong is buyer demand right now? How much competition do listings have today compared to what they will have in the spring? People want to make an educated decision on what is probably their family’s greatest financial asset.

 

  1. Why is it happening?

Understanding the individual pieces that impact the sale or purchase of real estate is important. Understanding how those pieces impact each other is critical. How does the amount of a down payment impact the mortgage rate you will be offered? Can you still price your house a ‘little ahead’ of the market and still be sure it will sell?

 

  1. How do the first two affect your local market?

Basically, you want an understanding of the overall housing market and a simple and effective explanation of how it will impact your personal real estate goals.

 

The best way to get answers to all three is to contact knowledgeable real estate professionals in your area (like Mari Sennott and Associates!) who understand the shifting real estate market and can expertly guide you on the journey to reach your housing goals.

 

We’re here to help…

 

Enjoy your week

Mari and Hank

Standing Out in a Sellers Market

In many markets across the country, including Cape Cod, the number of buyers searching for their dream homes outnumbers the supply of properties for sale. This has led to a competitive marketplace where buyers often need to stand out. According to industry resource KCM, one way to show that you are serious about buying your dream home is to be pre-qualified or pre-approved for a mortgage before starting your search.

 

In addition, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach.

Freddie Mac lays out the advantages of pre-approval in the My Home section of their website:

It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

 

One of the many advantages of working with a local real estate professionals like Mari Sennott and Associates is that we have established relationships with lenders, who will be able to help you through this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding your down payment and credit, debt, work, and residential histories. 

 

Freddie Mac describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow:

 

  1. Capacity: Your current and future ability to make your payments.
  2. Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash.
  3. Collateral: The home, or type of home, that you would like to purchase.
  4. Credit: Your history of paying bills and other debts on time.

 

Getting pre-approved is one of many steps that will show sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

 

Many potential home buyers overestimate the down payment and credit scores necessary to qualify for a mortgage. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so.

 

We would be happy to meet with you to discuss your options and what lenders are in the best position to help you. Call us at 508-360-5664 or contact us through the feedback section.

 

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According to our partners at RSM (Residential Mortgage Services) the government shutdown has yet to impact mortgage rates. For more on the economy and the housing industry, check out Markets in a Minute.

 

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Who your work with as your real estate professional will really matter in 2019 as the market returns to normal.  It’s important that agents stay up-to-date with the latest trends and developments. That’s why we invest time and resources in being part of the Tom Ferry organization, the leading coaching and training group in the country. In early February Mari will be attending the“Elite Retreat” in San Diego that brings together top Ferry coaching and training clients from across the country for an intensive two day event.  We expect to learn a lot to share with you and, more importantly, put to work for you as our clients.

 

Enjoy your week.

Mari and Hank

 

 

 

 

 

 

Tips for Sellers from HGTV

 

Looking to sell your home this year? Here are some suggestions from HGTV that are cost effective and will make your home more attractive to potential buyers.

  • Minor Bathroom Remodel — Replace the tub or outdated vanity to give the bathroom a more current look.
  • Upgrade Landscaping – Add color to the outside of your home with flowering shrubs or trees.
  • Minor Kitchen Remodel – Reface cabinets or replace counter tops to eliminate the “my Mom has a kitchen like this” feel.
  • Exterior Improvements – Adding a new front door or repainting/residing makes your home more inviting and shows to potential buyers that you’ve been committed to maintaining the property.

For the complete list of suggestions from HGTV, click here.

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In the meantime, our kitchen remodeling project at home continues with the counter tops arriving!

You can see our social media update here.

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From our partners at Residential Mortgage Services (RMS):

Home prices are still rising, albeit at a slower pace than we’ve recently seen. Prices were up 5.1% nationally in November 2018 over November 2017.

Although higher mortgage rates have been blamed as a factor for a slowdown in rising home prices, recent rate drops could reverse that trend.

Home equity, currently nearing $15 trillion, has surpassed its prior 2006 “housing bubble” peak by over $1 trillion. This could help expand options for current homeowners.

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2018 was an epic year for Mari Sennott and Associates. We’re grateful to so many of you for your confidence in allowing us to assist you with your home buying or selling needs. We look forward to working with more of you in 2019.

Enjoy your week.

Mari and Hank