What is this thing?

You have probably noticed these little buggers popping up everywhere, from print ads to real estate yard signs, and even on the web, but may not have a clue what they are or what they do.

These funny blocks are called QR Codes (which stands for Quick Response) and can hold about 7 kB of information. The more information they contain, the smaller the blocks become, making them more difficult to read.

QR Codes have many practical applications in today’s society, but are often misused by those who are excited about them, but seem to miss the point. Since a QR Code is meant to be scanned on a mobile device such as a smart phone or tablet, it needs to point to a mobile friendly set of information, such as a mobile version of a website, a phone number or a message.

We have been using QR Codes in our advertising since last September. We create one for each listing that points to a mobile version of that listing, complete with photos, details and listing agent information. We have found that they are a great tool in helping consumers reach out to us and to find more information about the property they are interested in.

To find out more about our use of QR Codes, or about use of technology as a listing tool, please feel free to contact us at info@neppi.com

Americans confident in recovery of real estate market

New national survey echoes New England consumers’ belief in real estate as a good investment

Boston, MA — The majority of America’s potential homebuyers and sellers — 68 percent — believe that the real estate market and property values will recover in the next year or two, according to a new survey by Prudential Real Estate and Relocation Services, a Prudential Financial, Inc. company.  This exceeds the 47 percent of Americans who expected house prices would rise in a similar survey conducted in April 2010, underscoring a more bullish outlook for the real estate market today.  In addition, 86 percent of Americans believe real estate is a good investment despite the market volatility of the past few years. The Prudential Real Estate Outlook Survey of 1,253 Americans between the ages of 25-64 in the market for buying a home was conducted Jan. 20-27, 2011.

The national survey reveals that six in 10 respondents are more interested in buying real estate (58%) and are optimistic about buying given the momentum of the economic recovery (59%).  It also shows that although the price of many Americans’ homes declined during the recession, 89 percent recognize they can also buy a new house at a lower price.

“This survey clearly demonstrates that Americans nationally and locally continue to be optimistic about the real estate market and believe that home prices will rise,” said Nancy Ledgard Quinn, President and CEO of Prudential Prime Properties.  “A key take away from the survey is although consumers recognize that it is a good time to buy, they are concerned about their ability to sell their homes. This is one of the reasons for a slowdown in New England’s recovery.”

For those on the fence about buying, uncertainty about selling an existing home (77 percent), concern about getting a fair price for the home (67 percent) and emotions (58 percent) are holding them back.  For those who have sold homes in the past year, despite the down market 78 percent report that they were satisfied with the sale.  Of these, 32 percent were very satisfied with the final price of their home and 46 percent were grateful they were able to sell given market conditions.  A relatively small number, 22 percent, indicated that they were disappointed or resentful about the price they received for their home.

The survey highlighted Americans’ interest in trading up their homes.  Of the 45 percent looking to trade up, 64 percent wanted more space or property, 49 percent a nicer house and 41 percent a better neighborhood.  Only 21 percent surveyed said they were looking to scale down, and 34 percent said that they wanted a similar home.

The survey highlighted the importance of getting the right price in today’s market —74 percent of buyers believe that many homes could meet their needs and that price is a significant differentiator, while 26 percent stated that they were willing to pay top of market for a home that specifically suits their needs.  In setting the right price, however, sellers were split—with 53 percent wanting to price right at or slightly below market to attract more bids and 47 percent wanting to price slightly higher than market and hoping to find a buyer willing to pay more.

The majority of respondents underscored the importance of real estate agents in the process of buying or selling their home.  Seventy-five percent of those surveyed said that an agent is very important or essential to this process, with only 24 percent saying agents are helpful but not imperative.

“Americans continue to see real estate agents as having a very important role in helping them price, buy and sell their homes; which is reflective of our market as well,” added Nancy. “Although the data underscores the value real estate agents provide, it also shows that the industry needs to continue to work hard to meet clients’ unique needs.”

The Prudential Real Estate Outlook Survey was conducted online. The margin of error is +/- 3 percent. A more detailed breakdown of the data is available, as well as supporting charts and visuals, at www.news.prudential.com.

Prudential Real Estate and Relocation Services is Prudential’s integrated real estate brokerage franchise and relocation services business. Prudential Real Estate franchises are independently owned and operated. Companies are selected based upon outstanding performance records, high levels of customer service and shared business values with those of Prudential. Prudential Real Estate is one of the largest real estate brokerage franchise networks in North America, with more than 1,600 franchise offices and 54,100 sales professionals in the franchise Network as of Dec. 31, 2010.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately $784 billion of assets under management as of Dec. 31, 2010, has operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. In the U.S., the company’s Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential’s businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. For more information, please visit www.news.prudential.com.

What changes in the Massachusetts Homestead Law means to homeowners

What changes in the Massachusetts Homestead Law means to homeowners

On December 16, 2010, Governor Deval Patrick signed into law a series of important amendments to the Homestead Act (Mass. General Laws, Ch. 188) that current and future homeowners should know about. These changes will go into law on March 16, 2011.

At this point, you might very well be asking yourself what’s a “Homestead”? Actually, the exact term is “Declaration of Estate of Homestead.”

This declaration is a legal document filed at the registry of deeds that informs the public that the homeowner is asserting his/her rights to protect the equity in the home from subsequent creditors. Upon filing a Declaration of Homestead, a person’s primary residence is protected against subsequent attachment, suit, or bankruptcy to the extent of five hundred thousand dollars ($500,000) of equity per residence, per family.

While a Homestead can protect the equity in many situations, there are some obligations that are not covered, such as debts relating to the purchase of the home (purchase money mortgages), tax obligations, and child/spousal support obligations.

The Two Major Changes You Should Be Concerned With:

Under existing law, homeowners must file a Declaration of Homestead at the registry of deeds to obtain coverage. In March 2011 when these changes become effective, there will be automatic coverage in the amount of $125,000 without any filing. However (and this is important to know), in order to obtain the maximum coverage of $500,000, the homeowner must still file the Declaration at the registry.This automatic coverage will protect homeowners who may not have heard of the Homestead Act, but clearly there remains a significant benefit to filing the Declaration at the registry.
Although the maximum amount of coverage has not changed, the Act now allows homeowners to sell their primary residence, yet maintain the same Homestead protection on the proceeds of the sale. This protection is available for one year from the time of the sale or when a new primary residence is purchased, whichever is sooner.This new consumer-friendly provision may allow a homeowner who, for example, needs to sell the home to relocate for a new job or downsize their current home to a smaller home or condo. In some cases, this may provide an opportunity for a homeowner with debt-related issues to still purchase another home.
There are other changes to the law, but these are two of the major ones. Just remember, with many issues, homeowners should consult their personal attorney regarding specific legal questions about the Homestead Act and how they may or may not be impacted by the new changes.

Post Published: 06 January 2011
Author: mmcdonagh

Congratulations Kurt Thompson, 2011 President of NCMAR

Kurt Thompson of Prudential Prime Properties, Maynard, Mass., was elected 2011 president of the North Central Massachusetts Association of
REALTORS. He has served on various committees and boards for this association over the years. Congratulations Kurt!

The Spring market is just around the corner!

Sales Professional Steve Bulawka from our Marlborough office sent this over today, so much snow the first floor of the office can’t be seen from the street.

Are you having problems dealing with all this snow? Check out this report from University of Minnesota on why ice dams form, and how to prevent them.

Congratulations Randy DeVries, Incoming President of WRAR

Randy DeVries, Vice President and Clerk of Prudential Prime Properties and manager of the Whitinsville office was installed as the incoming Worcester Regional Association of Realtors 2011 President. The installation of officers will took place this afternoon during a luncheon at the Highfields Country Club in Grafton, MA.

In addition to serving as President of the Board, Randy will serve a 2 year term as a Massachusetts State Director. Randy has served on the local board of Realtors in a variety of areas from an instructor to finance committee chairman, Alternate Board Member, Board of Directors and Executive Committee. Randy has been in real estate since 1983 when he was first licensed in Illinois. Moving to Massachusetts in 1985 he joined the family real estate business. In 1994 the firm of Wiersma – DeVries Real Estate, Inc. joined Prudential Prime Properties and has been one of the top offices in Southern Worcester county serving Central Massachusetts and Rhode Island.

Dana Farber School Liaison Program Donation

Prudential Prime Properties has made a donation of $5,400 to the Dana-Farber Cancer Institute for the School Liaison Program. Thank you to all the agents for your continuous support towards this charity.

The School Liaison Program (SLP) in the Division of Pediatric Psychosocial Services at the Dana-Farber Cancer Institute provides school consultation to patients who have a diagnosis involving the central nervous system or who have completed treatment involving the central nervous system. Consultation about the cognitive late effects of treatment is provided to assist parents in understanding and advocating for their child’s learning needs. Collaboration with the school system is offered to ensure that educators have the knowledge of neuropsychological late effects of treatment and are aware of services and strategies that will enable a child to be successful in learning.