MetroWest and MA Higest Rated Broker & Service – Mikel DeFrancesco
Thank you for visiting our website and portal for all things Massachusetts Real Estate! I'm Mikel DeFrancesco, a local REALTOR and I've spent years perfecting this site to be used by buyers and sellers to provide the best tools and information whether you are buying, selling or investing in Massachusetts Real Estate. Please read on for a bit about me and the Real Estate business I've built and how different we are from the traditional local real estate agents.
I've lived my whole life in Massachusetts and now reside with my wife Lisa, our sons Mason, Evan, Tanner, our newborn daughter Gianna and our Swiss Mountain Dog Harper. I Love my job. Raising a family here in MA makes me appreciate every day the opportunity to assist first time buyers, upwardly mobile buyers or those adjusting their housing needs to their family and ever changing requirements.
I've always prided myself on being different from other REALTORS. I believe one of the reasons that I am the highest rated REALTOR in Massachusetts on many of the national sites is that, as a Buyer's agent I pride myself in telling prospective buyers not to buy 95% of what is out there... but focus on finding the truly exceptional deals and securing them at better rates and terms... and ensuring we beat our competition to the punch.
I'm a longtime resident and broker serving the MetroWest and Eastern MA Real Estate markets and nothing would make me happier than to hear from you. A quick phone call (I understand today's real estate broker must understand that we're not only in an information business, but a customer service business) to me at my direct line: (617) 755-8272 – no answering services or recorded access lines, only a direct line to the highest rated local REALTOR service in the area.
Unlike most local Real estate agents, I'm available 7 days a week and generally from 7 am to 9 pm. If you are looking to sell your home or buy the home of your dreams, please call or text me at (617) 755-8272 or email to me direct at MikeDeFran@gmail.com. I look forward to hearing from you and please enjoy surfing our website!
Latest News & Updates
July 27, 2011 By Mikel DeFrancesco
How Much Should You Offer on a Home??
Is by far and away, the #1 question we receive. It seems like every buyer has a friend, family member or co-worker with some advice, often contradictory. We’ll investigate several very common but incorrect ways to find the right offer price, as well as the best way to ensure the right offer to get the home you want, at the most advantageous terms and price possible! Let’s start with the Wrong ways to determine your offer:
Blanket Discount: Many buyers are advised to offer a blanket discount off asking price, whether it be 5%, 10% or any set amount using the asking price as the starting point. Why is this such a bad strategy? It has no method for taking into account the asking price of the Real Estate you’re examining vs the fair market price! So let’s say you’re advised to offer 10% under asking on a $500K house, so you come in at $450K. What’s the harm? Well, what if the house is only worth $400K? You have now overpaid by $50K. On the flip side, what if the house fits all your criteria and is more than fairly priced, in fact you’ve seen many similar properties asking $550K and selling in the $520K-$525Krange? Well you would still have found a great deal on a home that fits your search, and is a great deal to boot!
National Site Estimates: Buyers love to view these national sites that offer estimates on a particular property. The reason is that it offers a “ Number “ for the Real Estate, it’s a figure that you can point to, work off of or agree or disagree with. What is the problem with that? Well, horrible inaccuracy is the issue. The fact is that even though you may see that “ Magic Number “ of $520,000 … in the small print it discloses that not only is that number just the midway point between $410,000 and $630,000, but that the actual selling price is within that range slightly over 50% of the time!! If a broker or appraiser were off 20% of the value 50% of the time… we’d be out of a job immediately. In fact, even a casual home buyer can come within a $200,000 range easily. The fact is that just by looking at a listing, or a property description you, yourself can be far more accurate than the Estimation engines used today. In years to come they may become more accurate but for now they are useless.
Town Asessments: The town assessments have the same issues as the National Estimate sites ( in fact, the national estimates are all based on % of town assessments for recent sales in that town!! ). Why doesn’t this work? For starters, town records are often off drastically. Additions, basements, house size and more are often incorrect. This results in a domino effect where bad data from sales, results in bad estimates when trying to estimate a different house that may also have incorrect data. Put it this way.. if you never overestimate how poorly the information that some towns have on their housing inventory… you will not be disappointed. Also, town info does not take into consideration some of the most important things in MA real estate; Location, Curb Appeal, Layout, Condition etc…
How to get a proper Real Estate value that you can use to base an offer on? Have a qualified Realtor, familiar with Local Real Estate provide you with a comparable market analysis for the home. Most of the time people assume a proper market analysis or CMA ( Comparative Market Analysis ) is only done for a home seller… why not have it done for a purchase as well? A proper CMA on a Real Estate opportunity will examine “ Actives “ which are other homes currently on the market in the same price range or with the same amenities and appeal. Keep in mind, the subject home may/should look better than these homes, because they are on the market, but still have not found a buyer. “ Pendings “ which are homes that in that approximately 2 month period between having an accepted offer, and the actual closing. These are useful because they are very recent, but the final price is not known until it is recorded. The final way to find the proper price for your Real Estate is to compare it to the very best comparables: Recent Solds. By looking at other Sold homes in the Real Estate Market, you can compare the home, what it was priced at, what it sold for, and how long it took to get there. Obviously you will put your own value on the home after seeing such a report… but it is important to know what it is truly worth.
So the answer to finding what to Offer on a House: Get a Free Market Analysis from a local Realtor familiar with the home… and do your best to get it for less than that!!
We offer free advice on how to hone your MA real estate property search, maximize your offer and your chances of getting a home for the best price, as well as suggestions on comparing communities and amenities. You can visit us at www.SuccessInMass.com or call 617.755.8272 for instant and direct access to the MLS or for a price opinion of any home currently on the market.
If you want a custom list of Local MA Real Estate for sale, A Free MLS Search set up to email you matching properties as they come on the market, please contact me. I can always be reached directly for advice or guidance – email@example.com or at our webpage www.SuccessInMass.com, which contains direct access to the MLS and enhanced search that will make your Real Estate Search more efficient and guaranteed to provide better results.
July 23, 2011 By Mikel DeFrancesco
How Home Pricing can Cost you
One of the most important things a home seller can do is
properly price your home. We’ll tell you
how it costs you money and how to avoid making a bad pricing decision in
today’s blog. Two things we hear often
when discussing price is that the seller can always lower the price, or that it
gives them more negotiating room.
Improper pricing can cost you big in several ways. Here’s how:
If you have a mortgage you are paying every month you own your current
home, often with much of that payment being interest / pure profit for the
bank. For example, if you have a 5 year
old mortgage with a $2,500 payment, depending on your rate and other variables
somewhere around $2,150 could be going to interest each month. If you pay an extra 6 months of interest on
the home… even if you sold if for the EXACT same amount you’d have almost $13,000
less in your pocket since you paid $15,000 in mortgages on a house you no
longer own, but only paid down approx $2,100
off the principal.
Eventual Selling Price: All of
our buyer feedback shows that buyers factor in days on the market when evaluating a home’s
price. If a house is priced at $500,000
and has been on the market for 6 months… the buyer may look at the home
differently than if it just came on last week.
Simply put the buyer mentality is “ Nobody else has bought it, what is
wrong with it “ or “ Why should I give them something close to asking price
when nobody else has “. The fact that
the home was priced high and had several price breaks does little to assuage
Opportunity Cost: If you are like most sellers that will be
selling their current home, if you’re home is not priced competitively and the
perfect opportunity comes up for where you are moving to, you risk losing the
opportunity or being faced with a higher risk transaction or higher cost bridge
or blanket loan situation.
If the house is vacant you are still paying taxes, insurance, heating,
landscaping etc… all on a home that you will not own for long.
How to solve this problem?
The key is a proper pricing strategy.
A good agent will prepare a free and comprehensive market analysis that
compares your home to:
Current inventory: a.k.a. Your Competition if you were selling
Under Contract Homes: Houses that are in that approx 2 month time
frame between an accepted offer and closed sale.
By far the best tool. You know
what it was listed for, what it sold for and how long it took to get there.
After such a report you should know with a high degree of
accuracy what the proper and expected SELLING price of your home should
be. You never want to leave money on the
table, so you should go on a bit higher than that, both to ensure the highest
price from a perfect buyer… and Yes, to give yourself a ( reasonable amount )
of negotiating room. Our statistical
based research indicates that the Average sale price as compared to listing
price is approximately 3-5%. So if your home is WORTH $500,000 a good list
price would be $519,000 – $529,000.
Never hire an agent based on price! Real Estate listings typically come with
longer term and exclusive contracts. So
many agents will advocate a high initial listing price and immediately set upon
working for price break after price break.
Or just hope you accept a low offer.
For all the reasons outlined above, pick an agent based on their
marketing plan alone. The home is your
asset. Evaluate all the best information
and recommendations and set the listing price yourself. We offer complete, comprehensive and
no-obligation pricing reports for any home… whether you own it and are
considering a sale.. or evaluating it for a potential purchase.
What do you think of our series of
Blogs? Can I answer any other questions
you had? Did this contain enough
information for you? Any feedback is greatly appreciated. If I can help you in your home search or
with any real estate matters please don’t hesitate to contact me.
If you want a list of properties in your area that I think
would fit your style, please contact me.
I can always be reached directly – firstname.lastname@example.org or at our webpage www.SuccessInMass.com, which contains
direct access to the MLS and enhanced search which the ability to be emailed
when the perfect home hits the market. We’re pleased to offer the best service for any of your Milton MA Real Estate, Canton MA Real Estate, Sharon MA Real Estate, Boston MA Real Estate or Quincy MA Real Estate needs!
October 20, 2010 By Mikel DeFrancesco
Oct 1st, 2010: The region’s newest and Customer focused Real Estate Portal is launched at www.SuccessInMass.com . Incorporating direct property search from MLS-PIN and cutting edge website tools and marketing, we are pleased to introduce you to your single source for all the home value, property search and real estate information you will ever need. Want to know your homes value? How prices have changed in the last 6 months? A report of all homes listed currently or sold in the last year most similar to your own? No problem. Simply log into the property search at the top of this page, or email us and we can provide any information you wish. Thanks to all whose imput has been incorporated into our offering, and we look forward to putting our tools and experience with hundreds of local transactions to work for you!