New Mass Homestead Law-$500,000 Creditor Protection - Signed Into Law

Gov. Patric signed into law the New Mass Homestead with
$500,000 in creditor protection.  You will need to record a
Declaration of Homestead with your county Registry of
Deeds.  Contact your attorney for more details and read
highlights here!   http://bit.ly/fdTzxL

Winners and Losers in the Proposed Housing Plan

What does it mean if the government eliminates Freddic Mac and Fannie Mae?  It will cost Buyers more money to borrow money with higher interest rates and larger down payments which are all part of what could happen.   There is no doubt drastic changes are on the horizon.  Over the next several months we need to pay attention to what is being proposed and how that will effect you as a homeowner and future home buyer.

Read on about the winners and losers of the new housing plan - http://reut.rs/gdaupD

Every Home Sale touches 80 Occupations - Home Ownership Matters

Homeownership has a significant impact on net worth, educational achievement, civic participation, health and overall quality of life.  Read on: http://bit.ly/fCPnHU

Listen before you Paint!

Whats Happening in February

Take a look at February's Calendar of Events and make some plans!  Greenfield winter carnival is this weekend, plan a nice evening with your honey for Valentine's Day or join us in Shelburne Falls for the Art Walk - there is so much to do in Franklin County.  Have a great month.

http://bit.ly/g3OLQC

Real Estate Market Update

Listen to National Association of REALTORS Chief Economist Lawrence Yun regarding his thoughts on the real estate market.

Massachusetts Profile of Home Buyers and Sellers

Every year the National Association of REALTORS® puts together a comprehensive report on the Profile of Home Buyers and Sellers.    I selected some statistics from the Massachusetts portion of the report that I thought you would find interesting.   

• ·         55% of recent home buyers were first-time buyers, compared to 50% nationwide.
• ·         New Home purchases were at the lowest level in 9 years nationwide – down to 15% of all recent home purchases.  Massachusetts – only 8% of homes were new.
• ·         The typical home purchased was 1500 sqft in size, was built in 1963, and had 3 bedrooms and 1 full bathroom.
• ·         When considering the purchase of a home, commuting costs were considered very or somewhat important by 79% of buyers.
• ·         Typical buyer financed 88% of their home purchase.
• ·         36% of home buyers reported they have made some sacrifices such as reducing spending on luxury items, entertainment or clothing.
• ·         95% of home buyers used the internet to search for homes.
• ·         90% of buyers purchased their home through a real estate agent or broker.
• ·         94% of sellers were assisted by a real estate agent when selling their home. 
• ·         Among recent sellers who use an agent, 87% reported they would use that real estate agent again.
• ·         The share of home sellers who sold their home without the assistance of a real estate was 4%.
• ·         The primary reason that sellers choose to sell their home without a real estate agent is that the buyer contacted the seller directly.

      If you would like a copy of the complete Massachusetts or National report, email me at

       wanda@wandamooney.com and I would be happy to send you a copy.