Capital Residential Opens New Real Estate Office in Norwell

New Norwell Real Estate Office To Serve Customers On The South Shore

Norwell Real EstateCapital Residential Real Estate is proud to finally call Norwell home. As a resident and active community member in town, I am especially happy to mark this fourth year in business by opening my new Norwell real estate office.  The new office is located at 429 Washington Street in Norwell.  If you know where the new Garden Craft store is located on Route 53, you will see my new building right next to it. You can’t miss the new bright red door.  If you’re in the neighborhood stop by and say hello! The building underwent significant renovations to turn it from an ugly duckling to a bright and beautiful office space that will help our expansion plans and adding new real estate agents.  The building, which is really an old barn that was built in 1899 sits just off the Route 53 across from South Shore Bank, the Ten X athletic club and the Beijing House. My builder and contractors were great in making sure the place was ready to open on December 1st so we could move in on time. We put a new face on the building including new windows, door, siding and lights. There is some interesting history regarding this property and it involves an alleged arsenic poisoning and death of an Army Officer at the hands of his wife. She was acquitted and we did not find any used arsenic bottles in between the walls during construction.

Norwell Real EstateProviding Exceptional Service and Advice to Norwell Real Estate Buyers and Sellers

When it comes down to it, a new office doesn’t really make a difference in what level of professional service real estate agents provide to their clients, but it does show our customers and agents that we are dedicated to always improving our surroundings and providing a customer-friendly working environment. More and more real estate brokerage firms are reducing their brick and mortar footprint mainly because of the use of technology. Everyone is so busy today and technology has really assisted businesses and families become more efficient, but the one thing that the internet can’t replace is the face-to-face meeting that I believe is still a requirement in building strong working relationships. Buying or selling a property in today’s real estate market requires a strong working relationship between agent and consumer. That is the main reason why I thought it was important to open a new Norwell Real Estate office. It will be a place agents and customers can meet and start that process. We provided exceptional service before we moved into our new Norwell real estate office and I can assure you that Capital Residential will continue to provide Buyers and Sellers with the best representation on the South Shore.

Norwell Real EstateNorwell and South Shore Real Estate

Capital Residential provides Norwell real estate buyers and sellers as well as clients throughout the South Shore with local insight and almost two decades of real estate experience. If you are selling your home, need an appraisal of your home’s value or just have questions about the Norwell real estate market or the process of selling, then call us.  If you are buying a home in Norwell, Hanover, Hingham, Scituate, Cohasset or Marshfield, we offer one of the best home search websites in the industry. You can sign up at www.capitalresidential.com to receive daily updates of residential homes that meet your search criteria.  We are excited to call Norwell home and help you in achieving your real estate goals in the near future.

Norwell’s Neighbors Support Overrides

Norwell Prepares as Hingham & Duxbury Pass Major Propositions

Norwell residents and the Norwell School Committee are expressing concern for next year’s school budget. A rise in the student population coupled with budgetary restrictions such as not allowing the hiring of teachers to replace vacated positions, have left Norwell schools with large classroom sizes, outdated materials, and a scaled back curriculum. As neighboring Hingham and Duxbury move ahead with massive overrides, the future of Norwell schools as well as Norwell’s property values are a big question mark.

Norwell School Budget Crisis

Norwell and its real estate market has relied for years on the school system’s impeccable reputation. While the system continues to be strong, the class room sizes with sometimes 30-plus children, the reductions in staff, and the elimination of subjects in the upper grades have given residents and would-be homebuyers pause. Recently the Norwell School Committee met with the Board of Selectmen to discuss major concerns for next year’s budget. Superintendent Donald Beaudette has warned that the budget as it stands may force the town to rethink and reduce curriculum requirements to graduate from Norwell High School.

Norwell

Hingham residents approve the construction of a new middle school.

Hingham Passes Middle School Override

Just over the weekend an overwhelming majority of Hingham residents passed ballot questions at the polls to approve the $60.9 million middle school and $935,000 athletic fields renovation. Question one, funding for the middle school, won in a vote of 3078 to 2353. While the middle school project will be partly reimbursed by the Massachusetts School Building Authority, the remaining cost will be paid by an annual property tax increase at around $60 per $100,000. Question two, funding for tennis courts, track, and an all-purpose field, passed with 3770 voting yes to 1661 voting no.

Duxbury Set to Vote on Police, Fire, and School Overrides

Duxbury residents will be participating in a special election on Saturday, November 5, 2011 to vote on three Proposition 2½ overrides for construction of a new police station, renovations to the fire station, and design work for a new middle/high school. At town meeting voters overwhelmingly approved a $6.25 million proposal to design and build a new police station for the town, a $2.9 million proposal to design a new middle-high school, and a $3.7 million renovation of Duxbury’s fire station.

Norwell School Priorities

While Duxbury and Hingham residents have passed sizeable overrides, Norwell has not proposed an override for several years and an anticipated override would likely cover teacher salaries rather than construction. Based on the resource planning report submitted by the Norwell School Committee, an additional 20 FTEs (full-time equivalent) will be needed for fiscal year 2013, which comes at an estimated cost of $1,160,000. And with new developments being built in town and more families moving into the community, the already burgeoning student population is bound to grow.

Casualties of Buying and Financing a Home

If you have financed a recent home purchase or refinanced your existing loan in the last year without any glitches, you are one of the lucky ones. In April, the National Association of Realtors reported that 11% of Realtors surveyed said a purchase contract was cancelled due to an appraisal coming in below the negotiated sale price between a buyer and seller, 10% said a contract was delayed and 14% said a contract was renegotiated to a lower sales price as a result of a low appraisal.

You’ve probably heard that the requirements to qualify for a mortgage have gotten much more difficult in recent years largely due to the banking industry meltdown and the Federal Government’s lack of oversight. Now there is a bill in Congress that would change the minimum down-payment on FHA loans to 20%, which would almost certainly wipe out almost 45% of U.S. home sales. I don’t think that bill will become law because it would pretty much decimate the real estate industry and cause a prolonged real estate depression.

Currently, the real estate market is in a prolonged black hole. Lingering foreclosures on the books of mostly national and large regional banks offers no real end in site. High unemployment is stifling demand and the ability for purchasers to buy mid-range priced homes and even million dollar homes in Hingham, Norwell, Cohasset, Scituate, Duxbury and Hanover. First time buyer homes between $200,000 and $300,000 continue to be the best selling class on the South Shore. Overall inventory throughout Eastern Massachusetts and Greater Boston is up, prices are down and days on market continue to be longer than what sellers hoped for. There are some silver lining headlines such as Hingham, Norwell and Cohasset as well as hot spots in the city like South Boston, the Back Bay and the South End. Strong school systems, quality of life and easy access to downtown Boston have contributed to those silver lining communities.

Bankers are conservative by nature, which I believe is a good way to operate. So being careful in who you lend money to makes sense. Having the ability to repay the loan for the long term and having some equity in the home off the bat makes sense too. The bank wants to make sure the home you are purchasing is good collateral and secure. This means the bank wants an independent appraiser to give them a fair market value of the home as of today’s date. If for some reason you can’t repay the loan and the lender is forced to foreclose on the property, they want their initial investment back. Unfortunately, many of the foreclosures occurring today were from bad loans, some of which were fraudulent by both buyer and lender in collusion with appraisers and others. How the government and Wall Street let this happen is beyond comprehension, but it boils down to greed mixed with politics.

The bottom line is this: Buying a home can be easy – if you have cash and a motivated seller. Buyer a home and financing it might not be so easy. If you are a seller, remember that your Realtor is trained in providing you with a fair market value of your home. It may not be what you want or expected, but it is most likely the price that will not only attract a buyer who sees the value and agrees buy it, but more importantly, it won’t end up being one of the many purchase contracts that has to be canceled or renegotiated due to a lower appraisal. In today’s real estate market, an important discussion to have with your Realtor is the value of your home with apple-to-apple comparisons of homes that have sold in the neighborhood as well as consideration given to how a bank appraiser will view and ultimately value your home.

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