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                    [post_content] => Franklin, Massachusetts is a hot town this May . . . and we’re not talking about the weather! The real estate market in this prime I495 community is sizzling. Franklin home prices are rising and it’s getting to the point that many properties for sale in town go under agreement almost as soon as showings begin.

Shortage of homes for sale

Demand has outpaced supply in Franklin, Mass since the year began. This trend has continued to such a degree in Franklin that housing inventory levels are stuck at extreme lows even at the peak of the spring home selling season.



There currently is only about a 3 month supply of homes for sale in Franklin, Massachusetts. That compares to over 7 months of supply this time last year and over 11 months' worth of homes on the market back in May of both 2011 and 2009.  You'd have to go back to the boom years of 2002 - 2004 to find such tight market conditions in town.

Strong seller's market in Franklin

Today's 3 month supply of homes in Franklin, MA puts this highly desirable community at the forefront of hot real estate towns along the I495 corridor.



While low inventory rules the Franklin real estate market, conditions are not as tight in the regional market surrounding Franklin and indeed for most of the Bay State as a whole.  In both those broader markets, there's about a 6 month supply of homes.  Certainly there are other communities in the Greater Boston area where supplies are as low (or even lower) than they are Franklin, but you would be hard pressed to find a town in the I495 loop with a lower inventory of available homes than in Franklin, MA.

Why are homes in Franklin in such great demand?

Here’s why so many people want to live in Franklin, Massachusetts: Franklin offers attractive home prices with many young subdivisions of colonial homes, a prime location on I495 equidistant from Boston, Worcester and Providence, great childcare services, superb public schools, superior recreational resources (including a YMCA and other tennis and swimming clubs), a vibrant arts community, lot of fun fairs and community activities, and plentiful nearby shopping.  In essence, Franklin is a wonderful place to live and raise a family!

Copyright ©2013 02038.com

 
                    [post_title] => It’s getting hot in Franklin, MA 
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                    [post_content] => Greater Boston home prices continued their rise in the current reading of Massachusetts home values recently released by Standard and Poors. The seasonally adjusted S&P/Case-Shiller Home Price Index for Boston jumped 1.2% in February 2013, the most recent month for which price data is available for the Index.



Demographics support rising home prices?

Local home prices have been on a tear throughout 2013.



Prices are up over 5% from their recent lows back in November 2011 on the seasonally adjusted Boston Index.

And the recent run-up in area home values may be just a foretaste of things to come.  We may all benefit from a pronounced long term market shift towards higher home values.  That’s one of the exciting insights offered in an excellent article in Barron’s on the economic coming of age of the Millennial generation.



Housing  next to benefit from demographic trends

As outlined in the Barron’s article, Millennials currently range in age from 18 to 37.  As a demographic group they are 7% LARGER than the massive Baby Boom generation which had such a large impact on housing in the last quarter of the 20th century.

The Barron’s article details the positive effects the huge Millennial demographic cohort will have in coming years on housing, the stock market and the US economy in general.  “Housing could be the next major industry to benefit from their size and maturation” the article notes.

“We're big believers in this housing recovery"

Regarding US housing, the Barron’s article makes several bullish projections:

♦  More young adults living in their parents’ homes will pack their bags and move out. That will spur an increase in U.S. household formation.

♦  Greater financial security could mean an increase in the birth rate. "A lot of Millennials put off having babies, and now they will get to work," one demographer quoted in the article says.

♦  Most significantly, there will be more home buyers than sellers in the 12 years ending with 2019, giving the housing market a huge boost.

Don’t bet against demographics

Demographic trends are very powerful forces in the social and economic development of any society.  In  every decade of the latter half of the 20th Century, the US experienced the profound influence of the Baby Boom generation (both for the good and the bad).  Now we may stand poised to benefit in coming decades from the economic and social vitality about to be unleashed by the Millennial Generation as they come of economic age. There are many reasons for optimism about our futures!

Copyright ©2013 02038.com

 
                    [post_title] => Why housing may stay on the rise
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                    [post_content] => A wonderful series of hands-on science nights are held each year at the Keller Elementary School in Franklin, MA.  Sponsored by the Keller Parent Communication Council (PCC) and staffed by volunteer PCC members, the Science Nights show how hard the PCC works to augment the curriculum at Keller Elementary.  The Keller PCC makes a real difference in the lives of Keller students!

Video of a Keller Science Night

Here are scenes from the grade K – 2 Science Night recently held at the Keller Elementary School in Franklin, MA:



Fun for the kids . . . and they learn something too!

Two Science Nights are held annually, one for grades K through 2 and the second for grades 3 through 5.



The science demonstrations are conducted at a series of stations.



Students move from station to station in groups.  Each station gets 15 minutes to perform an experiment or conduct a demonstration of various scientific principles. The children have a lot of fun watching, learning and doing - no boredom here!

Learn more about Keller Elementary

You can follow the links below to learn more about the Keller Elementary School in Franklin, MA:



See homes for sale in the Keller school district.



Access a profile of the school and see Keller's test performance rankings.



Watch a video on the music program at Keller Elementary.



See the annual Fun Fair at the Keller Elementary School in Franklin, MA.

Copyright ©2013 02038.com

 
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                    [post_content] => The supply of single family homes for sale in Massachusetts hit 8 year lows in February, according to data maintained by MLSPIN, the largest MLS serving the Bay State.  The dearth of available homes today rivals the tight supplies last seen in the Commonwealth near the peak of the market boom back in February 2005.  The current low inventory of homes for sale comes amid an increase in buyers entering the market as we head towards March and the start of the hyper-active spring home selling season. The imbalance between supply (low) and demand (high) may begin to put upwards pressure on area home prices this spring.  Add to this volatile mix the high octane fuel of today’s historically low mortgage interest rates and we may witness in 2013 a sudden ignition of MA home values.

21.6% fewer homes for sale

At mid-month this February, there are roughly 15,600 active single family home listings on MLSPIN, a 21.6% decline from the approximately 19,900 listings active on MLSPIN this time one year ago.



The number of single family homes in Massachusetts currently available on MLSPIN is an astounding 36.8% less than the roughly 24,800 homes for back in February 2008. As confirmed in an article posted by the Boston Herald, the current low inventory of single family homes for sale is especially acute in Boston and extends to most communities in the Rte 128 and I-495 region of the Bay State:

“The trend of low home inventories continues into 2013, as prospective buyers had 23 percent fewer homes to choose from this week statewide, compared to a year ago, according to data from the MLS Property Information Network.

In Boston alone, the number of units currently for sale is down a staggering 45 percent compared to last year.”

Absorption rate analysis  

Absorption rate analysis is a tool commonly used by real estate brokers and investors looking to get insight into the future direction of home values in a given real estate market.

A variety of absorption rate formulas exist. All methods estimate the current state of the market by determining how long it would take to sell (or “absorb”) all properties currently for sale in a select geographic area.

Most calculations produce a “months’ worth” of housing inventory and this figure is often compared to supply levels in earlier time periods.  The comparison gives you a good reading of whether the local market is likely headed up or down in coming months.

Here’s how an absorption rate analysis depicts the current amount of housing supply in Massachusetts, the I-495 region around the Town of Franklin, MA and in Franklin itself:



As you can see above, the supply of homes for sale in all three market areas is very low. There is only a 4.6 month supply of single family homes for sale across the Commonwealth this February.  This is down sharply from the 7 month supply of homes available last year at this time.

Conditions in the Town of Franklin, MA and nearby communities are even tighter.  There currently is only a 4.3 month supply of homes in the Franklin regional market and an exceedingly low 3.2 months of inventory in the Town of Franklin itself.

This shortage of available housing as the spring 2013 home selling season approaches is making for some frustrated home buyers.  Reports of bidding wars are common.  There’s so little for sale that most properly-priced homes in Franklin sell very quickly!

In past real estate market cycles, such tight conditions typically led to upwards pressure on home values.  Home prices are rising in other areas of the country, but there have been no dramatic price moves yet in Massachusetts.

It will be very interesting to see how the market evolves in 2013.  I will keep a close eye on prices for you!

Copyright ©2013 02038.com

 

 

 
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                    [post_content] => Because so many Massachusetts residents encounter the arcane realm of septic systems and MA’s Title 5 regulations only when buying or selling a home, it’s helpful to have easy access in one place to detailed information on the topic.

Easy access to detailed information

Look no further! The links below will give you a lot of good, reliable information on issues pertaining to Title 5. We review how waste water and septage are handled by on-site residential treatment systems. Then we address how Title 5’s mandatory system inspection affects the purchase and sale of homes in MA. We also cover how septic system repairs and upgrades are regulated in the Commonwealth of Massachusetts by Title 5.

What is a septic system?



Click the image above or click here to download the .pdf file that shows you what a septic system is and how it functions.  The proper care of your septic system is key to its longevity and this file simply and concisely reviews how to make sure you gets many years of use out of your septic system.

Pumping your septic system



Click here or on the above image to download a helpful .pdf that reviews why periodic pumping of your  septic system is needed.  The .pdf is published by the University of Rhode Island and addresses Rhode Island law, but it is still useful for MA residents.

What is Title 5 in Massachusetts?



You can access an excellent overview of Title 5 by clicking the hotlink or clicking the image above.  The .pdf goes into great detail on how Title 5 impacts residential real estate transfers in Massachusetts and draws on content published by the Massachusetts Association of Realtors.

Title 5 inspections



Here is where things start to get complicated.  There are potential pitfalls with Title 5 inspections, many more than can be discussed in a post.  Click here or on the image above to download a .pdf on the ins and outs of Title 5 inspections in MA.

Buying or selling a home with private sewerage



Except in the limited areas of the state with high water table or lots of ledge rock close to the surface of the ground, septic systems are an affordable, ecologically sensible means of handling septage and generally work well for many years if properly maintained.  However, home buyers and sellers can sometimes feel intimidated by Title 5, so please click the hotlink or on the above image to download a .pdf that gives answers to many of the common questions about Title 5 that can arise during a home sale.

What if the system does not pass inspection?



Many systems that do not pass the Title 5 inspection need simple and relatively inexpensive repairs.  In some instances, the system will require a full replacement with a new septic system.  Click here or on the image above to download a .pdf that covers some of the issues pertaining to system repairs and upgrades.

Help paying for system upgrades



If your septic system needs a major upgrade, there are programs to help you with the cost.  Click here or on the image above to access a .pdf on loans and grants available to MA home owners with troubled septic systems.

 Specific questions

If you have questions about a particular situation involving Title 5, please feel free to contact me.  If I can't help you I should be able to put you in touch with someone who can.

Copyright ©2011 02038.com

 

 
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                    [post_content] => Here’s your chance to be one of the first to visit Warren’s new Facebook page!   “Moving West of Boston” is all about helping you get the most out of living in the vibrant suburbs west of Boston.



Whether you've lived in the region for years or are just in the early stages of relocating to MA, this Facebook page has something for you.

What can you get for . . .?

From  a $3 million+ home in Sherborn to a $300,000 split level in Hopkinton, see exactly what your money will buy right now in some of the most popular towns west of Boston . . . in real time!



If you’re thinking of moving or just want to have fun looking at dream homes, click here or on the image above to see how much home you can get west of Boston.

How’s the MA real estate market?

Keep up on current events in MA real estate and national economic trends affecting the value of your home by clicking here or on the image below:



You’ll see exclusive content and lots of charts and graphs created by Warren to help you better understand what the future may hold for what is likely your most important personal investment: your home.

Fun activities west of Boston 

Looking for interesting things to do west of Boston?  Click here or on the image below to sample interesting area events and activities that prove why so many people love living west of Boston.



Explore why Massachusetts is a very special place and how the region west of Boston has a lot to offer just about everyone!

Like the page to get updates

Please take the opportunity to like Warren’s Facebook page:



It’s an easy way to get updates from Warren.  He promises to make it worth your while – thank you!

Copyright ©2011 02038.com
                    [post_title] => New Facebook page by Warren Reynolds
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                    [post_content] => A very promising future for America in the 21st Century may be taking shape, at least if some surprising trends play out as some are predicting.



Another American Century?

The Telegraph Media Group of the UK just published an interesting article on why we may all soon be reaping the benefits of a radically improving competitive position for the US in the world economy.



The article is a well worth reading.  Below are summaries of the key points made in the piece:

US energy imports may fall sharply

The huge outflows of dollars from the US to buy Middle East oil – a depressing staple of American economics since the 1970s – may end by mid-decade.  If we could keep that money home, there would be profound benefits to the US economy.

This may become a reality due to new oil extraction techniques that are opening immense oil shale fields in the US to production.



You can read more about the Bakken fields here.  There's even a large shale oil field in Ohio!

There are also huge amounts of  natural gas in US shale deposits.  These supplies have been coming into production with a lot more on the way.  Because of this, natural gas prices have dropped significantly over the last three years and US manufacturing is  just now experiencing the economic benefits.



The US is now the top producer of natural gas in the world.  We are looking at soon becoming a major EXPORTER of natural gas - what a profound (and beneficial) change!

Manufacturing renaissance in US

America is poised to add 2 to 3 million jobs in the next 5 years as manufacturing returns to the US according to a new report by the Boston Consulting Group.  Manufacturing jobs are being "re-shored" back to the US from overseas in increasing numbers as the costs of production keep rising in China and other offshore manufacturing centers.



You can download the full report by clicking here or on the image above.

America is making some high quality products these days; we recently bought a Ford Focus SEL 5 door automobile and love it!



You can help this trend by buying American-made products as much as you can.  This can be hard to do, but well worth the effort in terms of creating a better economy for all of us.

ABC News has created a website to help you buy American.

Low fertility rates will hurt the economies of other industrial nations

New research is exposing a fundamental weakness in China, Japan and most European nations: demographics.



Low birth rates have put China and many other economic competitors of the US on a disastrous demographic path towards an aged population.  These economies may soon lack enough young workers to support all their upcoming retirees.

The US birth rate while declining is not nearly as low as China's and Japan's.  Demographics will help America compete in the world economy and grow its way out of its current debt problems as the 21st Century unfolds.

So there are seemingly many good reasons for optimism about your economic future as Americans - the current difficulties will end and better times are coming!

Copyright ©2011 02038.com
                    [post_title] => Why good times may be ahead for America
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                    [post_content] => The Massachusetts unemployment rate continued its year-long decline in September, falling to 7.3 percent last month.   The Massachusetts Executive Office of Labor and Workforce announced late last week that unemployment across the Bay State is now the lowest it has been since the start of 2009.  The agency said that 43,800 private sector jobs have been added in MA this year.

Regional  markets even better

As set forth in a separate report issued recently by The MetroWest Economic Research Center at Framingham State College (MERC), the employment picture is even better in many regions to the west of Boston in the greater I-495 area.  The MERC report covers employment rates as of August 2011:



The MetroWest region especially stands out with an impressive unemployment rate of 5 percent in August.  That’s nearly half the national rate.

Employment has improved dramatically over the last 12 months in all I-495 regions tracked by MERC.

Long-term unemployed still face challenges

Despite the drop in Massachusetts unemployment this year, there is still a lot of pain and frustration among MA job seekers.

Those who lack skills that are in demand and those who have been out of work for an extended period face still serious difficulties finding work.

Job sectors doing especially well in MA

As shown in the chart below, the professional, scientific and business services sector in Massachusetts has done every well this year, adding nearly 16,000 jobs through August.



Coming in second with over 13,000 jobs created in so far in 2011 is the education and health services.  Only the government job sector has suffered significant net losses in MA during 2011, MERC reports.

Improving jobs outlook and low interest rates should help local real estate


Times remain tough for many in Massachusetts.  However it is clear that the Commonwealth as a whole, and the Greater I-495 area in particular, are doing much better in terms of employment than the US average.

As the MA economy adds jobs, consumer confidence and discretionary spending should strengthen in coming months.

Improving economic conditions coupled with The Fed's recent commitment to keep interest rates historically low int0 2013 should help the Massachusetts housing market in 2012.

The time to buy MA real estate is now!

Copyright ©2011 02038.com
                    [post_title] => MA economy improving; MetroWest unemployment at 5 percent
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                    [post_content] => Standard & Poors announced yesterday that Greater Boston home prices rose an impressive 5% over the last two months.



The startling news is contained in the non-seasonally adjusted S&P/Case-Shiller Home Price Index for Boston which climbed 2.3% in June, after leaping 2.7% the month before.

Good news tempered by seasonally adjusted results

Although the 5% jump in MA home prices should be a wake-up call to prospective home buyers who have been sitting on the sidelines, MA buyers may not need to panic yet: the seasonally adjusted version of the Case-Shiller Home Price Index for Boston shows a much less buoyant 1.7% rise in MA home prices over the same last 2 month period.



The seasonally adjusted Boston Index rose +0.69% in June after increasing nearly one percent in last May.

While these seasonally adjusted increases are respectable, they still leave Greater Boston home prices 2.3% below where they were in June 2010 and just 2.7% higher than the market low set back in April 2009 during the nadir of worldwide financial crises.

Buyers need to take heed

Whether you use the exuberant 5% unadjusted home price increase figure or the more modest 1.7% rise on a seasonally adjusted basis, the fact remains that Greater Boston home prices have risen over the last 2 months reported on by S&P.

This illustrates the danger of holding off on a home purchase hoping to buy at the absolute bottom.  Home prices tend to lurch upward and downwards in spurts and you may find yourself on the wrong end of a market move if you try to time the Massachusetts real estate market.

If you need to buy a home, by all means do so now.  Interest rates are low and there are lots of affordable homes from which to choose.

I honestly believe that in five years home prices will be a lot higher than where they are today.

You will be very happy then that you bought your home or investment property at today's attractive prices and great mortgage interest rates!

Copyright ©2011 02038.com
                    [post_title] => Greater Boston home prices leap 5% in 2 months
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                    [post_content] => Home sales rebounded strongly across Massachusetts in July, rising 19% from their levels of one year ago.  July’s healthy sales figures mark the first notable pick up in housing demand in the Bay State since the Massachusetts real estate market essentially tanked last summer after the expiration of the Federal home buyer tax credits.  MA housing demand has remained generally sluggish for the 12+ months since then, so July’s home selling strength is long-awaited good news.

July sales way up over July 2010 levels

The +19% jump in MA homes sales last month over July 2010 production levels may be an early sign of a market seeking to regain its footing.



July’s good performance comes on the heels of the announcement late last month by Standard and Poors that Greater Boston home prices recently rose for the first time in months.

The Franklin, MA real estate market likewise shared in the good sales volume of the month just ended:



Homes are selling

It is way too early for unbridled optimism, but a recent personal experience of mine lends credence to the suggestion that there is potential for Massachusetts home sellers to do well in today's market.

I sold an appealing antique home in Westborough for full price in less than a week of marketing time!



The excellent location contributed to this quick sale, but this does prove that if you price your Massachusetts home correctly, the property will sell!

Market has a long way to go

If you are a prospective home buyer or real estate investor, let July's sales boost motivate you to grab a good deal; there are still considerable bargains to be had.

Despite the strong sales figures for July, a look back at July home sale results for years past shows how far MA real estate has to go before regaining the vigorous activity levels of the 2003 - 2005 boom years:



July 2011's results were only 7.2% off the pace of July 2008 and 10% below that of July 2006, so in that context today's market activity is encouraging.

But the difference in home sales activity is a lot greater when July 2011's results are compared to July 2005 (-31.5%) and July 2004 (-38.3%).

Smart time to trade-up or buy your first home

Clearly in light of those latter percentages, the turnover of homes in the current market is still greatly reduced.  Today's buyers are being cautious and there are fewer of them.

For many practical reasons, that relative lack of demand means now's a highly advantageous time to buy your first home or trade up/out to a better home.

The home of your dreams costs a lot less than it did in 2005 and mortgage interest rates are very low.  That means your cost of ownership is low.  If you own a home, you CAN sell it quickly and for a fair price; you just need to price properly and have an expert marketing representative.

So if you are thinking of buying your first home or moving to a better one, Fall 2011 looks to present an ideal opportunity!

Copyright ©2011 02038.com
                    [post_title] => MA home sales up 19 percent in July
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            [post_content] => Franklin, Massachusetts is a hot town this May . . . and we’re not talking about the weather! The real estate market in this prime I495 community is sizzling. Franklin home prices are rising and it’s getting to the point that many properties for sale in town go under agreement almost as soon as showings begin.

Shortage of homes for sale

Demand has outpaced supply in Franklin, Mass since the year began. This trend has continued to such a degree in Franklin that housing inventory levels are stuck at extreme lows even at the peak of the spring home selling season.



There currently is only about a 3 month supply of homes for sale in Franklin, Massachusetts. That compares to over 7 months of supply this time last year and over 11 months' worth of homes on the market back in May of both 2011 and 2009.  You'd have to go back to the boom years of 2002 - 2004 to find such tight market conditions in town.

Strong seller's market in Franklin

Today's 3 month supply of homes in Franklin, MA puts this highly desirable community at the forefront of hot real estate towns along the I495 corridor.



While low inventory rules the Franklin real estate market, conditions are not as tight in the regional market surrounding Franklin and indeed for most of the Bay State as a whole.  In both those broader markets, there's about a 6 month supply of homes.  Certainly there are other communities in the Greater Boston area where supplies are as low (or even lower) than they are Franklin, but you would be hard pressed to find a town in the I495 loop with a lower inventory of available homes than in Franklin, MA.

Why are homes in Franklin in such great demand?

Here’s why so many people want to live in Franklin, Massachusetts: Franklin offers attractive home prices with many young subdivisions of colonial homes, a prime location on I495 equidistant from Boston, Worcester and Providence, great childcare services, superb public schools, superior recreational resources (including a YMCA and other tennis and swimming clubs), a vibrant arts community, lot of fun fairs and community activities, and plentiful nearby shopping.  In essence, Franklin is a wonderful place to live and raise a family!

Copyright ©2013 02038.com

 
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