This Bay view rental in Dennis has breath taking views! This 3 bedroom 3 bath home is located on Cape Cod Bay. The beautiful private sandy beach is perfect for relaxing on those warm summer days and going for a swim. The home is only a short walk to the Surf Side Grill on Corporation Beach. Enjoy magnificent sunsets right from your deck. It is only a short drive to golf, fishing and a wide selection of restaurants. Amenities include WiFi and a window a/c unit, not that you will need it with the refreshing summer sea breezes off of Cape Cod Bay! Additional amenities include: Outdoor Shower,Ceiling Fans, house phone, patio, deck furniture, dishwasher, microwave, lobster pot, blender, food processor, window a/c unit, coffee maker, vcr, dvd player, cable tv, iron, ironing board, vacuum, washing machine and dryer, a gas grill and other fans. If you are still looking for your Cape Cod Summer Vacation Getaway this home is for you! Call Foran Realty today for availability or visit the website at www.rentcapecodproperties.com and look for property PMA83. We look forward to helping you plan your Cape Cod Summer Vacation at this Bay view home!
Sell Your Home
has changed how a buyer shops for a new home. According the National Association of Realtors and their most recent “Profile of Home Buyers & Sellers” for the past 3 years, 92% of all buyers have used the internet to search for a home. The report also revealed that 95% of those buyers shopping online for a home actually purchased their home through a real estate agent/broker or from a builder of builder’s agent. A minimal 2% actually purchased the home directly from a seller, without knowing them ahead of time. The buyers are searching online for their new homes, but still rely on the agent to find that specific home that fits their needs, negotiate the terms of the sale, negotiate the price and to help guide them through the process. There is so much information now available for a buyer to check out, research and read online, that the buyers are finding that they need to reach out to a real estate professional in order to sort through it all and connect the relevant dots! This is obvious as the percentage of overall buyers who used an agent to buy their home has steadily increased from 69% in 2001 to 95% in 2015. The bottom line is clear….if you want to sell your home, don’t underestimate the role a real estate agent/broker can play in the process. They will be there to help you price the home, show the home, market the home and finally guide the seller through the offer, the purchase and sale and finally the closing. Having an agent/broker by your side has become crucial to the speed and efficiency in which your home can sell. Foran Realty can help! Foran Realty is a local Cape Cod real estate office that employs the latest in technology to help with the sale of your house. Call us today to find out how we can help you get your house sold! ]]>
Current Mortgage Rates!
What’s going to happen to mortgage rates in 2016? Lots of people, very smart people try to anticipate what is coming. We are well aware that they don’t always get it right, but the more we know the better prepared we can be. Loan Rates Have Been Crazy! A quick look at Freddie Mac’s history reveals that it has been more than five years since monthly average rates for 30-year fixed-rate mortgages (FRMs) topped 5 percent. At one point, at the end of 2012, they reached an all-time low of 3.35 percent. Right now they are still very close to that 3.35 percent and have yet to hit 4. How quickly these low rates have become the norm! But don’t forget what normal used to be. If you look back over the decade before the housing and lending crisis really hit in 2008, the average annual rate for a fixed rate mortgage was over 6 percent for seven of the 10 years. In 2000, it was 8.05 percent. That sounds bad, but once again….remember the 80’s….. In 1981, the annual percentage rate average was more than twice that at 16.63 percent. Interest rates were above 10 percent from 1979 – 1990. Don’t let those rates scare you. I have yet to find an economist that expects mortgage rates to rise to those levels again anytime in the near future. So When Will “Normal” Return? There are just too many variables to predict that with any accuracy at this point. The election, oil prices, stock activity and so much more can all make an impact and none of which at this point can accurately be predicted into the far future. What Experts Forecast for 2016 Fannie Mae and the Mortgage Bankers Association (MBA) both have teams of economists dedicated to researching and forecasting trends in housing, including current mortgage rates.(Thank goodness for them…that means we can listen to what they say rather than doing our own research!) The MBA team expects average rates for 30-year fixed rate mortgage to hit 5.1 percent in the last quarter of 2016. It anticipates fairly small increases through 2016’s quarters: Q1 4.4 percent; Q2 4.7 percent; Q3 4.9 percent; Q4 5.1 percent. Fannie Mae however forecasts much smaller rises in current mortgage rates with forecasts much smaller and shallower rises, with only 4.2 percent in the last quarter of 2016. Q1, 4.1 percent in Q2 and 4.2 percent in both Q3 and Q4. So Who’s Right? So we know that both of these research teams are incredibly intelligent and the fact is either could be right (or both could be wrong). Even the Federal Reserve will not confidently predict when its own rates will rise, and it sets those itself. Most experts and economists currently expect to see some rises between now and the end of 2016. However, a few reckon it could be a long time before we get back to normal levels. One, Deutsche Bank equity strategist David Bianco, wrote in early October, “We see a better chance of landing men on Mars before a full normalization of nominal and real interest rates, especially 10-year yields, to historical norms.” What to Watch For Usually, good economic data causes rates to rise, while poor numbers pull the rates down. In particular, low unemployment and inflation at around 2 percent are important, because those are the main criteria the Fed looks at when setting its rates. But good numbers regarding gross domestic product (GDP), incomes, manufacturing, consumer confidence and spending, and so on are all likely to see rates rise sooner and faster. Poor ones generally have the opposite effect, as does bad news about foreign economies. What happened in Greece this past year definitely helped to keep our rates low! What’s going to happen to current mortgage rates in 2016? The short answer is nobody can be sure. If you’re reading this because you need to make an important decision (time the purchase of a home, perhaps, or decide when to refinance an adjustable rate mortgage, we haven’t been much help. However we have given you the signs to watch for! Rates now are still low so it is a great time to buy a home and lock yourself in at those low fixed rates. The team at Foran Realty would be happy to help you with your home search needs on Cape Cod. https://www.lendingtree.com/mortgage-rates/mortgage-rates-what-to-expect-in-2016-article ]]>
The Importance of Customer Satisfaction
People immediately define customer satisfaction as solving customer problems, answering their questions in a timely manner, and customizing the responses based on each customer’s needs. Now we know that it doesn’t sound too complicated, however you would be surprised! It’s not as easy as it seems. Here are my top five tips on how to provide excellent customer service:
- Hire the right people for your real estate agency
- Show empathy
- Offer speedy response
- Provide easy accessibility
- Ask your customers and then listen to them
Ready to be a homebuyer?
Have a checklist Whether you are a 1st-time buyer or an experienced owner, buying a house requires a “preflight check,” in the words of Barry Zigas, director of housing policy for the Consumer Federation of America. Read on for a checklist provided by Bankrate, including tips on the types of savings you need, plus advice about what matters beyond purchasing a home at its resale value. And if you’re already ready to shop for a mortgage, find the best deal today by talking to your local lenders, mortgage brokers and researching online. Strengthen Your Credit Score “It’s a brave, new world with respect to credit requirements for mortgages,” says John Ulzheimer, credit expert and contributor at CreditSesame. One old rule still applies: The higher your credit score, the lower your monthly payments. “Below 660 or 680, you’re either going to have to pay sizable fees or a higher down payment,” Zigas says. And that’s pretty much the cutoff score for getting a mortgage, he says.
Higher scores wanted
Vicki Bott, a former official at the U.S. Department of Housing and Urban Development, says that her office noticed much the same thing. “While there are many qualified borrowers in the 580 range, the market today is probably looking for 640 to 660, at a minimum.” On the other end, a score of 700 to 720 will get you a good deal, and 750 and above will garner the best rates on the market. Improve your chances by: pulling your credit reports and ensuring you’re not being unfairly penalized for old, paid or settled debts, Zigas says. Stop applying for new credit a year before you apply for your mortgage. And keep that same policy in place until after you close on your home. A change in your score right before closing could adversely affect your mortgage approval. Figure Out What You Can Afford The buyer’s mantra should be: Get a home that’s financially comfortable. There are various rules of thumb that will help you get an idea of how much home you can afford.Realistic debt-to-income ratio
For conventional loans, a safe formula is that home expenses should not exceed 28 percent of your gross monthly income, says Susan Tiffany, director of personal finance information for adults for the Credit Union National Association. Improve your chances by: trying on that financial obligation long before you sign the mortgage papers, says Tiffany. Before you home shop calculate the mortgage payment (there are several online calculators available) for the home in your intended price range, along with the increased expenses (such as taxes, insurance and utilities). Then bank the difference between that and what you’re paying now. Not only does it allow you to build a nice nest egg, but it gives you a feel for the comfort level in those payments. Once you have submitted your formal mortgage application, limit your spending to what is absolutely necessary. Do not make any substantial purchases and this could put your mortgage approval in jeopardy. Save for Down Payment and Closing Costs Depending on your credit and financing, you’ll typically need to save enough money for a down payment, somewhere between 3 percent and 20 percent of the home’s price.Don’t forget loan fees
Another substantial cash expense is your closing costs. Whatever your loan source, you’ll also need money to pay closing costs. For a $200,000 mortgage, closing costs run (depending on where you live) from $2,300 to $4,000. In a buyer’s market, you can also try to negotiate to have the seller pay a portion of the closing costs. Build a Healthy Savings Account Building your savings is something you should do over and above saving money for the down payment and closing. Your lender wants to see that you’re not living paycheck to paycheck. If you have 3 to 5 months’ worth of mortgage payments set aside, that makes you a much better loan candidate. That money will also help cover maintenance and repair issues that come up when you own a home. While repairs are sporadic, items such as a new roof, water heater or other big-ticket items can hit suddenly and hard. Get Preapproved for Your Mortgage For serious home shoppers, “the No. 1 thing is they better have everything in order,” says Dick Gaylord, broker with Re/Max Real Estate Specialists in Long Beach, California, and former president of the National Association of Realtors. That means that before the real home shopping begins; you want to be sure that you have your financing in place. The preapproval process is “much more extensive” than it was a few years ago, he says. Buy a House You Like If you’re buying today for yourself and your family, you want a home that will make you happy for the next few years. Gone are the days when you could count on a quick sale, Tiffany says. And depending on how much you put down, and how much you have to shell out to sell and relocate, short-term ownership can be a pretty expensive proposition. Information gathered from and more information available at: http://www.bankrate.com/finance/mortgages/]]>Join Our Team!
Join Our Team! Foran Realty is Cape Cod’s Premiere Independently Owned Real Estate Firm. Our firm specializes in Residential and Commercial Sales, Vacation Rentals and Property Management in the Mid and Lower Cape regions. We are currently looking to add select Professionals to our Team, and would love the opportunity to learn more about you! Founded in 2005 by Patrick Foran on the premise of delivering “old fashioned customer service”, combined with today’s modern technology creating the ultimate experience for our customers, our growth has been consistently strong. In 2015, Peter McDowell Associates of Dennis, MA merged with Foran Realty, and in 2016 Dubin Associates of East Dennis also joined forces with Foran Realty. Both McDowell Associates and Dubin Associates have deep roots in the mid-Cape Real Estate community and recognized the value Foran Realty brought to its Clients and both Principals wanted to become part of our exciting future. Patrick works with each agent in the office to help them achieve their individual goals. Our Client centric culture removes competition from our office, and all of our agents work together and help each other succeed in our colloquial work environment. We are currently looking to add a few select professionals to our Team. We are most selective in who we bring onto our Team, as we want to be certain our culture and Client focus remain intact. Unlike other real estate firms (especially the franchises and “box” firms), we do not hire everyone who walks through our door! Our agents must be Client focused, self-starting, tech savvy, able to resolve problems and satisfactorily address challenges, and also be a “people person” who loves his or her career and interacting with people. Foran Realty offers an attractive compensation package, with no hidden fees. Foran Realty also offers a great referral program to select licensed agents who do not want to be involved in day to day business activities, but still want to earn commissions. We offer progressive commission splits, free office space and each agent has access to a computer. We also provide the most up to date professional training and office technology. If you feel your experience, talent and vision match our Culture of Excellence and you are considering a change for self-improvement and desire the opportunity to become an integral part of a locally owned growing firm, please forward a letter of introduction along with your resume to Hiring Manager. All submissions will be held in strict confidence. You can also apply by clicking the link below and watching the video or copy and paste the following into your browser: http://accurecruiter.com/Candidates/Application.aspx?o=10308&j=61&jr=61 Learn a little bit about us, while we learn a little bit about you.
At Foran Realty, we love what we do and our results prove it!]]>Opening A Vacation Home
That time of year is upon us…the season is quickly approaching! A big reason for owning a vacation home is rest and relaxation, but it’s not all fun and games. Opening a vacation home takes time and money. Plan to spend at least a day before the season starts to open your vacation home. Specific tasks, such as draining off pipes or turning on utilities, will depend on climate, as well as when and how the vacation home is used. A beach cottage has different requirements than a mountain cabin. If you don’t live nearby or don’t want to do the work yourself, be sure to budget for a property manager like Foran Realty. Opening A Vacation Home When it’s time to visit your vacation home for the first time, or start renting it out for the season, you’ll need to get it ready. A ski chalet might require you to shovel snow and chop firewood, while a summer retreat by the shore might call for cleaning patio furniture and staining the deck. Much depends on how well the house is maintained throughout the year. Opening your vacation home could be as easy as stocking the pantry, or if the house was neglected in the offseason, you could have multiple repairs on your hands. A well-maintained vacation home shouldn’t take more than a day to get in shape for the season, assuming no major repairs are needed. Here are some typical opening chores:
- Turn on utilities
- Clean and stock kitchen and bathrooms
- Look for evidence of plumbing and roof leaks
- Cut lawn and trim shrubs/trees
- Clear walkways and driveway
- Set up outdoor furniture
- Change light bulbs and smoke detector batteries and carbon monoxide detector batteries
- Replace furnace filters
- Check for signs of pest infestation
City's Quality of Life
The State of American Well-Being: 2015 Community Rankings annually weighs each City’s quality of life in five categories– purpose, social, financial, community and physical–to determine the happiest and healthiest places in America.Choose to live in one of the 10 cities for overall well-being! Guess what our very own Town of Barnstable is number five on the list! Soak in the sun on some of the Cape’s best beaches, like Craigville Beach and smell the salt air as the sea breezes sail in through the harbors. Take a scenic drive down Route 6A or visit the Long Pasture Wildlife Sanctuary. Take in some history and visit the Kennedy Museum and the US Coast Guard Museum. Barnstable is the largest community on Cape Cod and in 2010 had a population of just over 45,000. The Town of Barnstable is made up of several villages including Hyannis, Centerville and Osterville. To the north of Barnstable lie the dunes of Sandy Neck along Barnstable Harbor shines Sandy Neck Light. The central part of the town is dominated by the pines and oaks around Wequaquet Lake. The south is where the bulk of the population lives, many along the beaches of Centerville and Hyannis Harbors. When it comes time to choose where you would like to live full time or part time, wouldn’t you want to live in one of the top 5 cities for overall well-being in the US?! Let the staff at Foran Realty help you find the home of your dreams in one of the happiest and healthiest areas in the country! Here are the top 10 cities for overall well-being:
- Naples-Immokalee-Marco Island, Florida (Pat Foran’s favorite vacation spot!!!)
- Salinas, California
- North Port-Bradenton-Sarasota, Florida
- Fort Collins, Colorado
- Town of Barnstable, Massachusetts
- Santa Cruz-Watsonville, California
- Boulder, Colorado
- Charlottesville, Virginia
- Anchorage, Alaska
- San Luis Obispo-Paso Robles-Arroyo Grande, California
10 Steps to Buying Your Dream Home
- Save your pennies.You’ll need to come up with cash for your down payment and closing costs. Lenders usually like to see a minimum 20% of the home’s price as a down payment. If you can put down more than that, the lender may be willing to approve a larger loan or provide you with a better interest rate. If you have less, there are various private and public agencies — including Fannie Mae, Freddie Mac, the Federal Housing Administration and the Department of Veterans Affairs that will provide low down payment mortgages through banks and mortgage companies. If you qualify, it’s possible to pay as little as 3% up front. Once you’ve considered the down payment, make sure you’ve got enough to cover fees and closing costs. These may include the appraisal fee, loan fees, attorney’s fees, inspection fees, and the cost of a title search. They can easily add up to $5,000 to $10,000 — and often run to 5% of the mortgage amount.
- Find an agent: Mostsellers will list their homes for sale through an agent. But be aware that those agents work for the seller, not you. You need a buyer’s agent. Get in touch with a Real Estate Agent that you are comfortable with and that can help you find the home that is best for your personal situation. A buyer’s agent has the same access to homes for sale that a seller’s agent does, but their loyalty lays with you not the seller. The agents at Foran Realty are always ready, willing and able to represent you as a buyer’s agent.
- Search for a home. Your first step here is to figure out what city or neighborhood you want to live in. Try also to get an idea about the real estate market in the area. For example, if homes are selling close to or even above the asking price, that indicates a desirable area. Consider house hunting in the off-season or during the colder months of the year. You’ll have less competition and sellers may be more willing to negotiate
- Make an offer. Once you find the house you want, it is time to make your bid. When working with a buyer’s broker, get advice from him or her on an initial offer. Try to line up comparable data on at least three houses that have sold recently in the area. If you really want the house, don’t lowball the offer. The seller may give up in disgust. Remember, that your leverage depends on the pace of the market. In a slow market, you’ve got muscle; in a hot market, you may have none at all. Once you reach an agreed upon price, the seller’s agent will draw up an offer to purchase that includes an estimated closing date (usually 45 to 60 days from acceptance of the offer).
- Enter contract. Have your buyer’s agent review this document to make sure the deal is contingent upon:
- Your obtaining a mortgage
- A home inspection that shows no significant defects
- A guarantee that you may conduct a walk-through inspection.
- Secure a loan.Now call your mortgage broker or lender and submit your formal mortgage application. Be sure to include the information from your preapproval as you want the process to be as streamlined as possible.
- Get an inspection: In addition to the appraisal that the mortgage lender will make of your home, you should hire your own home inspector. An inspection costs about $300, on average, and could cost up to $1,000. Be sure that you ask to be there during the inspection. This will allow you to learn a lot about your house. If the inspector turns up major problems, like a roof that needs to be replaced, then ask your buyer’s agent to discuss it with the seller. You will either want the seller to fix the problem before you move in, or deduct the cost of the repair from the final price. If the seller won’t agree to either remedy you may decide to walk away from the deal, which you can do without penalty as long as you have that contingency written into the contract.
- Close the deal. About a week before the actual closing, you will receive a Closing Statement from your lender that lists all the charges you can expect to pay at closing. Review it carefully as it will detail all of the closing costs you will be required to pay at the closing. It should also detail all expenses that you have already paid including inspections, application fees etc. The actual closing is somewhat anticlimactic, but your buyer’s agent can brief you on the particulars.
Renting Out Your Home
Getting your Home Ready to Rent
- Keep careful records.Rental income is taxable, but many of the expenses you will incur as you prepare your rental are tax deductible. Keep detailed records of the money and time you spend getting your home ready to rent so that you can maximize your deductions at tax time.
- Apply for a rental permit.Permits are not necessary in all areas, especially for short-term rentals, but many cities are responding to the growth of new rental trends by creating new forms of regulation. If a permit is required in your area, give yourself plenty of time to get through the application process before your first guests arrive. Remember that permitting and inspection fees, like all other expenses you incur while preparing your rental property, are tax deductible so be sure to keep careful records.
- Acquire landlord insurance.Call your local insurance agent and ask if your current homeowner’s policy will cover the kind of rental situation you will be offering. Many policies will cover the occasional short-term rental, but for more long-term arrangements, you may need special coverage.
- Prepare your home to rent, inside and out.Make sure that all appliances work, that furniture is comfortable and in good repair, and that everything is clean and neat. Ensure that safety equipment like smoke detectors, carbon monoxide detectors, and fire extinguishers are in good working order and are clearly accessible. Remove all precious personal belongings to a secure location, such as a storage unit or primary home. Do the same with all toiletries and anything else you wouldn’t want a stranger snooping through. Put clean linens on all of the beds (if you are planning on supplying linens), and make sure that bathrooms are stocked with clean towels, soap dispensers are full, etc. The requirements for safety equipment in rental properties vary widely by region. Smoke detectors are the bare minimum in most places. You will be informed of further requirements through the permitting process. Unless you are going for a very high-end rental, do not furnish your rental with extremely expensive furniture, linens, towels, etc. These items are likely to get damaged or disappear. Look for items of decent quality that are not too expensive but are still comfortable.
- Hire a reputable cleaning service.Some property owners are able to minimize costs by performing rental clean-outs on their own, but this can be a very time-consuming and difficult process, so it might be better worth your time to hire a professional service. If you do, be sure to do some research first and hire a reputable company that is licensed and insured. Get personal recommendations from your rental agent, other property owners, or look for a service with excellent online recommendations.
- Hire a landscaping service.As with cleaning, some property owners take on landscaping chores themselves, but you may be better off hiring a landscaping service to take care of routine lawn maintenance and care. Landscaping services, like cleaning services and other maintenance costs are all tax deductible, and a well-maintained yard is more likely to get good reviews and repeat renters.
- Create a system for providing a key or entry instructions to your guests. This is something that can be handled by your rental agent should you choose to use one. The check in and checkout instructions will be detailed with the lease and any inquiries etc. can be directed to the rental agent and their office, freeing you up to enjoy your time!
- Create a welcome book or informational packet to give to renters when they arrive.Include information about the home and the local area. Providing information on local attractions and dining options, as well as emergency contact information is an option that guests love. Leaving a welcome gift like a fruit basket or bottle of wine is another great way to welcome guests and keep them coming back year after year.