We're excited to announce the addition of the new property address feature to the FARSRealtyGroup.com MLS search. This has been in the making for a while and we're proud to announce it is now fully functional!
To further empower our customers and make home searches easier, our registered users are now able to view the exact street address of properties while searching for homes for sale in New Hampshire and Massachusetts. Just look for the Map & Address button on the listings pages.
The street addresses are displayed on the detailed listing pages and the property map. The address displays will work for all available MLS listings including :
In addition, our MLS map platform allows users to scroll around on our integrated New Hampshire and Massachusetts Google maps to geographically view properties. The Google maps feature lets users zoom in or out, view satellite images, or a hybrid map that blends aerial images with a digital overlay of streets. Users can also click on properties to view detailed information and photos. The custom map and IDX coding was carried out by Real Estate Webmasters.
Over the past 6 months, there has been a substantial increase in the number of "short sale" properties on the market. As an increasing number of homeowners in Massachusetts have become unable to pay their mortgages, "short sales" have provided a desirable alternative to foreclosure. In a short sale transaction, a lender agrees to accept less for a property than the current remaining balance on the mortgage, allowing a seller to accept a lower offer for their home than they would otherwise be able to. In a tight market where home prices continue to drop and properties are sitting on the market for months, having the flexibility to accept a lower price can be crucial in expediting the sale of a property. Though lenders do take a loss on short sale transactions, it is a better alternative than the foreclosure process, which can often take up to a year and cost a bank an average of $50,000.
Short Sales are advantageous to all parties in involved:
Sellers are able to avoid foreclosure and preserve their credit.
Lenders are able to reduce their losses and avoid the foreclosure process.
Buyers are able to take advantage of reduced pricing and get a great deal on a property.
However, the short sale transaction generally does not run as smoothly as the traditional real estate transaction and requires patience from all parties involved, particularly the buyer. Generally, short sale transactions take an additional 30-60 days to close, leaving the buyer in limbo for a couple of months after their anticipated closing date. For some buyers, this requires finding temporary housing, storing belongings, and pushing off new home purchases and improvements indefinitely. Short sales are a great way for buyers to get into properties that they otherwise could not afford. However, short sales are not for everyone. They can take a long time to close and be very frustrating - but in the end, if the deal is that good, it's worth the wait.
In an effort to increase awareness and support local charities, we have recently launched the new "FARS Gives Back" donation program. This initiative aims to donate funds, on the behalf of our clients, from a fixed portion of brokerage commissions from every completed real estate transaction. We thought this would be a great opportunity and easy way for our clients to join us and directly contribute to the local community.
We are happy to announce that Children's Hospital Boston is currently our featured charity organization and look forward to supporting their goal of becoming the worldwide leader in improving children's health. Check out the press release for more information.
Boston's Most Expensive Condo -- The entire 18th floor at Trinity Place is up for sale as a double penthouse unit. This 8,542 square foot Back Bay condominium includes 8 bedrooms, 13 bathrooms (8 full), and 4 valet parking spots in a luxury, 24-hour concierge building. Did I mention the panoramic views? The price tag for this residence is set at $15M.
You can now search for properties based on geographic location very easily with our integrated Google map search. The following will show you how to use FARSRealtyGroup.com to find properties using our custom MLS map search.
1. Go to the 'Property Search' page on farsrealtygroup.com and click on the link "You can also search via NH maps" for New Hampshire properties or "You can also search via MA maps" for Massachusetts properties.
2. Login to your account. If you do not have an account, you can simply create one by clicking here and registering (don't worry, you will not receive any spam).
3. Use the property feature drop-down menus to select the property type, price range, and bedrooms/bathrooms. The zoom control buttons will allow you to adjust the geographic range you would like to cover. You can also change the location by simply dragging the map with your mouse to different desired locations.
4. If you would like to change property features on a map location, you must click on 'Update Map' in order for your changes to go through.
5. To view property details, simply click on one of the thumbnails and a pop-up window will appear with the MLS#, price, bedrooms/bathrooms. For more detailed information and photos, follow the link "View this Property" to the property details page.
Portsmouth, NH -- FARS Realty Group today unveiled their newly redeveloped real estate website (www.fasrealtygroup.com). The new website brings together the best in usability and advanced search functionality to serve as one of the leading property search sites for New Hampshire and Massachusetts real estate.
“There are many real estate websites out there that are loaded with pages and pages of useless content to get better traction on the search engines. We took the opposite approach – creating a trimmed down, customer-centric site that enhances user experience with better functionality and a cleaner, more usable layout” said Bob Samii, Director of Business Development.
The new site offers a visually engaging layout with improved navigation and expanded search options so that visitors can explore and find property information more easily. One of the key features includes a custom Google map property search that allows users to search and view homes based on geographic regions.
In addition, a custom back-end allows users to save favorite properties, create custom searches and receive daily updates of new properties. FARSRealtyGroup.com incorporates various web 2.0 design standards and also features a New Hampshire real estate blog where users can find out more about local real estate news and other relevant information.
We are in a very opportune buying environment that could be prove to be a great time to find some great deals for the savvy real estate investor.With the drop in property prices and longer days on the market, homes have become much more affordable than they have been in recent years.Throw in the sub-prime problem and the rising foreclosures and you have a dream market for a real estate investor looking to pick up a good deal.
Here is a synopsis of what is shaping the market and why this is might be a great time to buy real estate:
Mortgage industry tightening up (sub-prime meltdown) The golden days of creative financing are over and a lot of Americans are finally getting slapped with a cold backhand of reality… or what is turning into the sub-prime turmoil.In the heat of the real estate market that was booming in 2004-2005 lenders gave mortgages out like candy, even to people that were taking on debt that they shouldn’t have -- high-risk borrowers with less-than-perfect credit with little or no money for down payments.These are the people that were getting into sub-prime mortgages and most probably didn’t even fully understand what they were getting themselves into.In fact, according to bankrate.com, 3 out of every 10 U.S. homeowners have no idea what type of loan they own… scary.
And guess what?All that predatory lending from a few years ago is finally catching up to the thousands of homeowners that locked into all those sub-prime and adjustable mortgages that are now maturing.
Lots of foreclosures The slow down in the market in conjunction with the sub-prime meltdown (and other factors) has resulted in rising mortgage delinquency and more and more foreclosures that are expected to continue to rise nationwide throughout the year.In Massachusetts there were 111 foreclosure filings every business day or an increase of 81.97% when comparing the past 12 months to the same period a year earlier (21,644 v. 11,894), according to ForeclosuresMass.com.
In New Hampshire, foreclosures are expected to double from last year.
And this is just the beginning. The Center for Responsible Lending, a nonprofit based in Washington, recently estimated that the approximately 2.2 million subprime loans that were made in the past eight years will end in foreclosure… scary.
Homes staying on the market longer The cool down in the market is made the most apparent by the stagnant inventory that is taking longer to sell than previous years.As properties are spending more Days On the Market there is, generally, further downward pressure placed on home prices.
My prediction: We are surely in a buyer’s market (or I should say a buyer’s market for qualified buyers) and there are lots of great opportunities out there but it won’t last forever.All else being equal, if interest rates increase as many experts predict, we will soon move into a very neutral environment that will level the playing field, neither in favor of buyers nor sellers. The upside from the Buy will be best realized in the next several months while enough 'deals' still exist.
In addition, although there a lot of deals out there, ‘flipping homes’ and increases in property values will require longer holding periods before most home buyers realize a healthy profit. So don't watch too much tv and get disilllusioned by the idea of quick a sale.
FARS Realty Group, the independently-owned New Hampshire real estate company, continues to grow with the addition of two new team members: Fahti Namazi and Lisa Miracle.
Namazi joins the group with a background in interior design and remodeling as the proprietor of an interior design business based in Hingham, MA. She will focus on residential sales in Boston's south shore communities.
Miracle, a MBA graduate from Bentley University, joins the company with previous marketing experience working for a commercial real estate company. She resides in Waltham, Massachusetts and will focus on residential sales in the Mass metro west communities.
"This is a testament to our mantra of recruiting quality, not quantity, to better serve our customers with high caliber sales agents that understand high level customer care and professionalism," said Ron Wright, Director of Sales and Operations for FARS Realty Group.
The addition of Namazi and Miracle will help support the company's continued progress and expansion in Massachusetts real estate markets.
"Both Fahti and Lisa bring a fresh perspective to our company and we are very excited to welcome them," said Faye Namazi, principal broker of FARS Realty Group "their previous professional experiences and backgrounds will fit very well with our already dynamic team."
About FARS Realty GroupFARS Realty Group is an independently-owned residential real estate brokerage providing real estate services for those seeking to buy, sell, or rent properties in New Hampshire and Massachusetts. The team is comprised of a strong, dynamic group of real estate professionals licensed in both New Hampshire and Massachusetts. For more information about FARS Realty Group visit their web site at www.farsrealtygroup.com or call toll free 800-961-3277.