Priced to Sell @ $269K

Totally Renovated Halifax!

Coming this weekend!

Professional Staging and Pics coming this weekend!

Bank of America Offers Principal

Reductions to 200,000 Homeowners

A select group of struggling mortgage borrowers are about to get an offer that sounds too good to be true. Executives at Bank of America say they will begin mailing 200,000 letters offering certain customers mortgage principal reduction.

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“If people get these things and toss them, they won’t be eligible,” says Ron Sturzenegger, the Bank of America executive charged with providing solutions to borrowers in need of mortgage assistance.

But the offer is real, and eligible borrowers could get as much as $150,000 knocked off the balance of their mortgages. It is all part of the $25 billion settlement reached this year between federal and state agencies and the nation’s five largest mortgage servicers over fraudulent foreclosure document processing (so-called “robo-signing”).

Bank of America [BAC  7.74    -0.22  (-2.76%)   ], in a deal with state attorneys general and the U.S. Department of Justice, committed $11 billion to mortgage principal reduction, but executives say they will go beyond that if enough borrowers respond to their offer. Five thousand borrowers have already received a collective $700 million in principal reduction through a pilot program for those already in a modification negotiation. The 200,000 borrowers being targeted now may have already exhausted modification options or may have yet to contact the lender.

Executives say borrowers receiving the letters are eligible, but they still have to prove they qualify. In order to be eligible, a borrower must be 60 days late on the mortgage payment as of Jan. 31, 2012. The borrower has to owe more on the mortgage than the home is currently worth, commonly known as being “underwater” on the mortgage, and the borrower’s loan must either be owned by Bank of America or serviced by Bank of America for an investor who is allowing the modifications.

In order to qualify for the modification, the borrower must answer the letter with full documentation of income, showing that under the terms of the modification they can still make the monthly payment. A borrower with no income would therefore not qualify. A borrower’s current monthly payment must be  more than 25 percent of gross income, and the borrower must show they are unable to afford that.

“If you can afford to make your monthly payment and are choosing not to, you will not get this principal modification,” says Sturzenegger.

If the borrower qualifies, Bank of America will bring the monthly mortgage payment down to 25 percent of the borrower’s gross income. That could mean principal forgiveness well over $100,000, as there is no limit to the amount of the mortgage. If enough borrowers respond, it could cost Bank of America far more than it committed to in the settlement.

“Yes, we have the capability to go well beyond the $11 billion,” adds Sturzenegger.

Bank executives say that before choosing which borrowers will get the offer, they performed a net present value test on each loan, making sure that the principal reduction modification would net Bank of America or the investor who owns the loan more than foreclosing on the home. “It has to be fair to the investor as well,” says Sturzenegger.

Not all of the 200,000 borrowers who receive the letters are expected to respond. Executives say there is a level of fatigue among delinquent borrowers who have already received several notices or who may have gone through a failed modification process already. Some borrowers simply don’t want to stay in their homes, while others may think the offer is a scam.

“They have been contacted by a lot of other people, and this offer may appear too good to be true,” says Sturzenegger.

That’s why Bank of America is sending the letters by certified mail and trying to make the language as simple as possible. A sample letter obtained by CNBC shows a bring red box in the top corner labeled, “IMPORTANT” and simple language stating, “Qualifying customers may reduce their monthly payment by an average of 35 percent.”

Some 6,500 letters should be arriving in mailboxes across the country this week, with a wave of new letters going out every week until the end of the summer, when all 200,000 should have been mailed. Bank of America is staggering the mailings in order to handle the expected response. The bank has staffed up to handle the task, with 50,000 employees manning servicing desks, but the process will clearly take a lot of time. That’s why Bank of America has suspended any foreclosure actions against these 200,000 borrowers until the process is complete.

There are currently 5.59 million U.S. loans that are either delinquent or in the foreclosure process, according to Lender Processing Services. Bank of America services one million of those loans, but many of them are owned byFannie Mae and Freddie Mac. Their regulator, Edward DeMarco of the Federal Housing Finance Agency, has yet to agree to principal reduction in loan modifications, despite harsh criticism from some lawmakers on Capitol Hill and increasing pressure from the White House.

260 Polpis Road, Nantucket

Area: Polpis

Bedrooms:          9 (Floor 1 Brs: 1)
Bath: full:            9 Half: 1
Total Rooms:     20
Water Frontage Harborfront
Water Views:     Harbor
Views:                 Pastoral

Property Description: A rare opportunity to purchase a one-of-a-kind, waterfront estate on exclusive Nantucket Island.  This outstanding property, “Swain’s Neck,” features spectacular, unobstructed 180-degree views of Polpis Harbor. Spread out on almost 70 acres, the compound features a sprawling main residence which embraces the magnificent views, a charming guest cottage,  a private studio/office, a boathouse, a gatehouse with apartment, several fenced-in pastures, a sport court and meticulously manicured grounds and gardens.

First Floor: The front entry opens into a grand and elegant, atrium-like living room, with towering ceiling height, a fireplace with honed-limestone surround, custom paneling and trim, cherry floors and a wall of windows and French doors which open to an expansive lawn and the shores of the Harbor. A smaller, more intimate adjacent parlor features a fireplace, wet bar and shares the spectacular views; this opens to the master bedroom with fireplace and private deck, en suite spa/bath, dedicated laundry and spacious walk in closet. In an opposite wing is a gourmet kitchen, with high-end appliances and amenities, including granite counters and bar, twin paneled refrigerators, double wall ovens and custom-crafted cabinetry. An adjacent sitting room and dining area is cozy, with rich, walnut detailing and French doors to a deck. Water views can be enjoyed from every angle. Beyond this comfortable gathering area are a pantry room with additional refrigerator, laundry room with utility sink, den/media room with sound system, spacious mudroom with window seats and custom storage cabinetry and access to the attached, double-bay garage. There is a hall with lit display and custom cabinetry and a powder room with inlay floor detail.

Second Floor: A graceful curved stairway winds from the living room to the second floor landing and balcony. Four en suite bedrooms all feature stunning views and are beautifully appointed, with custom detailing, luxurious, wall-to-wall carpeting and marble/limestone baths. There is access to the second floor from a second stairway, which arrives at a spacious landing and storage filled hallway.

Other Structures: A charming gatehouse frames the entrance to the property, with a security gate and two-bedroom apartment. The driveway gracefully winds over a trout stream and to the main residence, a spacious two-bedroom, waterfront guest cottage, a boathouse with storage and outdoor shower, and an octagonal shaped studio/office with plush facilities abutting the sport court.

Basement: Unfinished basement in main residence, very suitable for storage.

Parking: Yes

Easement: Electric Co. easement

Listed by: Maury People Sotheby’s International Realty

     JUST SOLD!

I just sold this home in your neighborhood in 4 days!

Are you thinking of selling or now someone who is?

41 Wilmarth Road, Braintree, MA 02184

Kristen Dailey is unparalleled in her dedication, with a warm and professional approach to sales and a level of service second to none.  Kristen has over 7 years of executive level experience in construction, real estate and finance.

Considerations, such as risk management, detailed documentation, contract review, aggressive and effective negotiation skills, candid market and property assessment are essential but all too often underdeveloped skills. Kristen has these skills. This is why people choose her to be their trusted partner and advocate in their Real Estate decisions.

With a passion to providing honesty, integrity and knowledge in every transaction, Kristen is a highly regarded professional within the real estate industry.

Kristen M. Dailey, ABR, SRES – Realtor
Offices In:
Norwell, Hingham, Marshfield, Braintree, Quincy & Canton
Phone: (781) 264-6457
Fax: (781) 610-7301
E-mail: KDailey.Success@Comcast.net

March Bay State Home Sales Rise 20 Percent

Median Prices For Single-Family Homes Drop For Fourth Straight Month

Located just steps away from Plymouths Beautiful Waterfront, Shopping & Restaurants!

123 Court Street Plymouth

Gorgeous 1st Floor Condo – High Ceilings, Fireplace, Granite Kitchen & Stainless Appliances & Butlers Pantry, Custom Window Shutters, French Doors, 2 Great Bedrooms, Hardwood Flooring throughout, Farmers Porch and Garden, Stylish Bath w/pedestal sink & Whirlpool tub, 1st Fl Laundry, TONS of storage in basement.

Gorgeous Renovation – Coming Soon!

Pretty Halifax Neighborhood
Totally Renovated
Granite Kitchen
Stainless Appliances
5 Bedrooms
2 Full Baths
1 Car Garage
1848 SF (per public record)
Additional Finished Area in the Basement
Wonderful Backyard
Another quality renovation by Matt & Matt of the Brockton Group

Huge Home in Halifax - Coming Soon!

Thank YOU!!

UPDATE TO SELL!!

I met with a new client today who would like to sell their condo and move to a single family home for their growing family.

The condo is in a high rise where many of the units are very similar, so we tried to come up with ways to make their unit stand apart from the others.

I have a couple of clients that flip properties, so that has put me in contact with many reasonable craftsman.

I suggested a few things:

Kitchen

Cabinet upgrade, faucet, counter tops, new dishwasher & trash compactor to match the new microwave & stove

Tile Kitchen Floor

The space is probably 44 square feet

small space = cheap upgrades!

Bathroom “Hotel” mirrors

Add Framing like below…..

Details, Details, Details!!

 Make a HUGE difference

A Little Staging can go a LONG way!!

A little “Shout Out” to my friend & Home Stager, Daryce Morris!

She has a keen eye for the details, works within your budget (however small) and has

successfully helped me sell every home she has staged within the first week of listing it!

disclaimer….we can’t guarantee these results for everyone

Last be Definitely NOT Least – Actually it’s probably first!!

MAKE YOUR OUTSIDE SPACE AN EXTENSION OF YOUR INDOOR SPACE!!

Gisele & Tom Brady’s

New House In California

Is Bigger Than All Of Our Houses

Combined

What a fitting weekend to see this story pop up!

Nice crib! Now how do I get Giselle out of the picture! 

Tom Brady and Gisele Bundchen — and their 2-year-old son Benjamin — have reportedly moved into a $20 million California dream home.

The sprawling compound in elite Brentwood outside Los Angeles was strewn with equipment and half-finished buildings just nine months ago.

But new photos published in London’s Daily Mail show the New England Patriots quarterback and supermodel finally have a place they can proudly show off to the neighbors — Arnold Schwarzenegger, Heidi Klum and Seal.

The 22,000-square-foot spread, nestled in a canyon, has two wings connected by a covered bridge, eight bedrooms and a lagoon-shaped swimming pool and poolhouse.

There’s a circular driveway and a massive lawn outside. Indoor amenities include a weight room, spa and wine cellar.

The roofs appear to be covered in solar panels and Bundchen has insisted that despite its size, the palace is “environmentally friendly.”

The Brazilian-born catwalker, who is an eco-activist, also said she and Tom need all that space to host their “large, extended families.”

Presumably that includes Brady’s 4-year-old son, John, from his relationship with actress Bridget Moynahan, who also lives nearby.

Bundchen and Brady, who are said to be worth at least $90 million, bought the 3.75-acre lot for $11 million in 2008 and spent millions more to build it out.

Thanks Huffington Post & NY Daily News!
Read more: http://www.nydailynews.com/real-estate/gisele-bundchen-tom-brady-move-dream-home-brentwood-calif-article-1.1009252#ixzz1lLeMQN5A