Homes are More Affordable Right Now than they have been in Years.

Homes Are More Affordable Right Now
Than They Have Been in Years

Homes Are More Affordable Right Now Than They Have Been in Years | MyKCM

Today, home prices are appreciating. When we hear prices are going up, it’s normal to think a home will cost more as the trend continues. The way the housing market is positioned today, however, low mortgage rates are actually making homes more affordable, even as prices rise. Here’s why.

According to the Mortgage Monitor Report from Black Knight:

“While home prices have risen for 97 consecutive months, July’s record-low mortgage rates have made purchasing the average-priced home the most affordable it’s been since 2016.

How is that possible?

Black Knight continues to explain:

“As of mid-July, it required 19.8% of the median monthly income to make the mortgage payment on the average-priced home purchase, assuming a 20% down payment and a 30-year mortgage. That was more than 5% below the average of 25% from 1995-2003.

This means it currently requires a $1,071 monthly payment to purchase the average-priced home, which is down 6% from the same time last year, despite the average home increasing in value by more than $12,000 during that same time period.

In fact, buying power is now up 10% year-over-year, meaning the average home buyer can afford nearly $32,000 more home than they could at the same time last year, while keeping their monthly payment the same.”

This is great news for the many buyers who were unable to purchase last year, or earlier in the spring due to the slowdown from the pandemic. By waiting a little longer, they can now afford 10% more home than they could have a year ago while keeping their monthly mortgage payment unchanged.

With mortgage rates hitting all-time lows eight times this year, it’s now less expensive to borrow money, making homes significantly more affordable over the lifetime of your loan. Mark Fleming, Chief Economist at First American, shares what low mortgage rates mean for affordability:

“In July, house-buying power got a big boost as the 30-year, fixed mortgage rate made history by moving below three percent. That drop in the mortgage rate from 3.23 percent in May to 2.98 percent in July increased house-buying power by nearly $15,000.”

The map below shows the last time homes were this affordable by state:Homes Are More Affordable Right Now Than They Have Been in Years | MyKCMIn six states – Arkansas, Iowa, Kentucky, Louisiana, Maryland, and West Virginia – homes have not been this affordable in more than 25 years.

Bottom Line

If you’re thinking of making a move, now is a great time to take advantage of the affordability that comes with such low mortgage rates. Whether you’re thinking of purchasing your first home or moving into a new one and securing a significantly lower mortgage rate than you may have on your current house, let’s connect today to determine your next steps in the process.

It is my true pleasure to  work hard for my clients and your referrals throughout Massachusetts, Rhode Island, and Cape Cod.  Please let me know what questions you may have and how I can be of the best assistance to you.

Jen McMorran, Realtor Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Associate
New Homes Team Kensington Real Estate Brokerage
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor
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Serving clients throughout Massachusetts & Rhode Island & Cape Cod. Boston – Attleboro – Providence and the communities all around.

Like New and Ready for You!

| Featured Listing |

1284 County Street, Unit 26
Attleboro, MA
Mill Stream Village

Offered at $359,900

DSC_0678Have you been searching for a newer, move-in condition, quality built Townhouse in an established Attleboro community with easy access to Rt 95 and two MBTA train stations?

Are you looking for a home that is tucked away in a prime Mill Stream Village location with private outdoor space, and an affordable condo fee?

Then look what just hit the market… 1284 County Street, Unit 16 in Attleboro offers all of that and more!

This 3 bedroom, 2.5 bath beautiful Townhome was built in 2009 by WB Construction, Attleboro’s premier builder, and 10 years later still shows like new!  Local homeowners and real estate agents all know WB Construction is a name you can trust when it comes to quality high-end new construction and Mill Stream Village is no exception.

You don’t want to miss out on this turn-key Townhouse with garage & full basement! The eat-in kitchen features stainless appliances and granite island with tons of storage. The spacious living room boasts hardwood floors, gas fireplace, and awesome light from the picture window overlooking the patio & green space. Upstairs the master suite features a spacious walk-in closet and private bath plus you’ll love the laundry, extra storage, two additional great sized bedrooms and main bath.

The next lucky homeowner will enjoy a prime private location tucked away in the back of sought after Mill Stream Village and easy access to both Attleboro commuter rail stations, Rt 95, the New England Sports Village, Capron Park Zoo, Stone E Lea Golf Course, restaurants, shopping, and more!

Energy efficient gas heat, CAir, city water/sewer, beautiful landscaping, carefree condo living, and interest rates at all time lows – can it get any better?

Listed at $359,900, this unit won’t last long in today’s market!  Give a call 508-930-5259 with questions about this home or any of your real estate needs!!

It is my true pleasure to  work hard for my clients and your referrals throughout Massachusetts and Rhode Island.  Please let me know what questions you may have and how I can be of the best assistance to you.

Jen McMorran, Realtor Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Associate
New Homes Team Kensington Real Estate Brokerage
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor
real people. real estate.  Best 5 Icon Logo
Serving clients throughout Massachusetts & Rhode Island. Boston – Attleboro – Providence and the communities in between.

Happy (Oatmeal) Chocolate Chip Cookie Day

Happy Chocolate Chip Cookie Day 2020!  With so much going on in the world right now, it’s kind of fun to get back to the basics when it comes to putting a smile on your face (and a warm gooey cookie in your belly).  Enjoy!!

Ariko’s Oatmeal Chocolate Chip Cookies

DSC01454I can not thank my good friend Ariko enough for this amazing cookie recipe!  Ariko and I met at San Jose State while both in Grad School way back in 1993 and I have been making these ever since.  (I often change it up too… white chocolate chips and Craisons or add raisons and a little cinnamon. These will always get rave reviews!)

Preheat oven to 350 degrees.

Blend-
1 egg                                       ¾ cup granulated sugar
2 sticks softened butter          ¾ cup brown sugar
1 tsp vanilla

Add –
2 cups flour
½ tsp salt
½ tsp baking soda    … and blend.

Add –
2 cups 1-minute quick quaker oats … and blend.

And finally add-
1 cup semi-sweet chocolate chips
1 cup milk chocolate chips.

Bake at 350 degrees for 8-11 minutes (should look soft and “not quite done”, my oven takes 11 min). Then let cool for 12 minutes on cookie sheets. This gives you the perfect “still soft” cookie – yum!

This recipe never disappoints!  I have actually given these cookies to accompany my closing gifts for special clients and they are often better received than some of the best bottles of wine and gift cards I have given.   I think the trick is making sure your butter is softened before blending with the sugars and then only cooking them until the look “almost done”.  Letting the cookies  sit on the pan after removing them from oven absolutely does the trick to finish the cooking off and create a soft wonderful ooey gooey cookie! And, yes, it does make a difference using both semi-sweet and milk chocolate chips.  (Sometimes I even splurge and use Ghiradelli chips!)  Have fun and experiment… you are going to love them!
Jen McMorran Head Shot (2)Jennifer McMorran, Realtor
New Construction & First Time Home Buyer Specialist
(and Antique lover & home owner!)
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

real people. real estate.

Kensington - Jen McMorranServing clients throughout Massachusetts and Rhode Island.
Boston to Attleboro to Providence and the communities in between.

Bidding Wars – Buyers be Ready!

Are you ready to enter on this real estate market?

I have been on the listing side and the buyers’ side of multiple offer situations countless times and believe me, neither are fun.   My recent listing at 53 Turnstone Dr in Attleboro had 40 showing requests in less than 24 hours of being on the market.  One day of showings produced 15 offers from ready and willing buyers by 11:00am the next morning.

It took hours to go through each offer individually as we evaluated the:

  • offer price
  • dates 
  • deposits
  • contingencies
  • personal letters to the seller
  • escalation clauses
  • and mortgage pre-approval and pre-qualification letters.

When sellers review offers, know that the highest offer price does not always “win”.   All of the terms of the offer and buyers’ qualifications must be considered both when writing up a contract as a buyer and when reviewing an offer contract as a seller.

Want to know the three best ways to position yourself as a strong, sought after buyer amidst a sea of buyers and very few listings?

 1. Work with a full-time, experienced, and respected agent who will have the knowledge and reputation to present an offer and “you” in a way that the sellers and sellers’ agent will take seriously.  You want the sellers’ side to feel confident that you are the right buyer.

Buyers need to be prepared

2.  Get pre-approved now!  Do not wait until you find a home to contact a mortgage officer.  Experienced listing agents know the difference between a pre-approval that has been vetted with buyer documentation and a pre-qualification letter that is just based on a phone conversation with a lender.  Good listing agents will always call mortgage officers to make sure the buyers are solid.  It is always in your best interest to use a full time, experienced, and respected mortgage officer and company as well.  Let me know if I can send you some names!!

3.  If you own a home and your home purchase is going to be contingent upon it selling, you need to list your home NOW.  In almost all cases, sellers will move your offer to the bottom of the pile as soon as they see a “contingent upon the sale of buyer’s house”.  Some will consider you if you have a signed P&S on your home, but some will still see that as a risk since they have to worry about you as a buyer and your buyer.  As a back up plan, it may be worth checking with your mortgage officer to see if could purchase your next home without selling your current one first.  If a down-payment is tied up in the equity of your current home, a cash-out refinance may be an option for you.  (FYI – a refinance must be completed before listing your current home or moving forward on a loan application for a new home.)  Best plan… contact your mortgage officer and a contact qualified experienced real estate agent. 

It is my true pleasure to  work hard for my clients and your referrals throughout Massachusetts and Rhode Island.  Please let me know what questions you may have and how I can be of the best assistance to you.

Jen McMorran, Realtor Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Associate
New Homes Team Kensington Real Estate Brokerage
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor
real people. real estate.  Best 5 Icon Logo
Serving clients throughout Massachusetts & Rhode Island. Boston – Attleboro – Providence and the communities in between.

Home Buyers Guide Spring 2020

Despite so many uncertainties as we learn to live with Covid-19, there oddly hasn’t been a better time to buy a home in recent history with mortgage interest rates hovering at all time lows. For a Home Buying Guide packed with information, please click below then give me a call or send me a message and let’s set up time to connect and get you started on right path to homeownership.

As a committed full-time real estate agent, I have helped hundreds of buyers and sellers… it would be a pleasure to help you too.

Whether you have tons of questions or don’t even know the questions to ask, I am ready to work with you through the entire process.


It is my true pleasure to  work hard for my clients and your referrals throughout Massachusetts and Rhode Island.  Please let me know what questions you may have and how I can be of the best assistance to you.

SUBMIT

Jen McMorran, Realtor

Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Associate
New Homes Team
Kensington Real Estate Brokerage
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

real people. real estate. 

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Serving clients throughout
Massachusetts & Rhode Island.
Boston – Attleboro – Providence
and the communities in between.

10 Oakridge Avenue, Attleboro

10oakridge

10 Oakridge Avenue
Attleboro, MA

4 bedroom, 2.5 bath
Craftsman Colonial
Built 2015
Lot Size .28 acres

Awesome location!
Awesome home!

Finally…the home you’ve been waiting for!

It seems like just yesterday that I met some wonderful first time home buyers from Jamaica Plain full of enthusiasm and dreams. We searched near and far for a new home where they could be a one car family, walk to the train for their Boston commute, walk to parks & restaurants for family fun, have quick access to Rt 95 & Providence, relax with their young children and dogs, and enjoy the luxuries of new construction. A tall order and it took some time, but we found it at 10 Oakridge Ave in Attleboro and now this gorgeous four year young home is for sale and ready for you!

You’ll love the location & spacious open floor plan of this beautiful 4 bedroom, 2.5 bath Craftsman Colonial built in 2015 featuring hardwood floors throughout, a contemporary white kitchen with walk-in pantry, spacious living room with gas fireplace, stunning dining room with wainscoting, a master suite with two walk-in closets, three additional great sized bedrooms (two with walk-in closets), second floor laundry, fully fenced in yard, and so much more!

This wonderful home is tucked away in an established neighborhood behind Capron Park & Zoo, around the corner from Highland Park’s walking trails, and just minutes to schools, train station, & city center. Oakridge Ave is short street that dead-ends so very quiet with limited traffic.

10 Oakridge Ave is the perfect location for commuting, living, and feeling at Home.  Give a call for details or to set up a showing… this really is a good one!  (For a self-guided virtual tour, just click here.)

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It is my true pleasure to  work hard for my clients and your referrals throughout Massachusetts and Rhode Island.  Please let me know what questions you may have and how I can be of the best assistance to you.

Jen McMorran, Realtor

Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Associate
New Homes Team
Kensington Real Estate Brokerage
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

real people. real estate. 

Best 5 Icon LogoServing clients throughout
Massachusetts & Rhode Island.
Boston – Attleboro – Providence
and the communities in between.

Seriously Simple and Crazy Good Carrot Cake

Seriously Simple and Crazy Good Carrot Cake

Our family loves this recipe!!   We always have the ingredients in the house, it tastes soooooo good, really impresses a crowd, and is so easy to make.  Seriously, we dump all of the cake ingredients into one bowl, turn the mixer on, and you’ve got the cake batter.  No sifting, no separating… just dump and let the mixer do the work.

easy carrot bundt cakeWe sometimes cheat with the frosting.  There are some pretty yummy tasting pre-made cream cheese frostings.  If you happen to have a can of vanilla frosting and cream cheese in your refrigerator, just blend the two together.  Get fancy by sprinkling walnuts and/or coconut on top or keep it simple.  This is even delicious without frosting!

Cake Ingredients:
2 cups sugar
4 eggs
1 1/3 cup oil (or can replace with applesauce)
2 cups flour

2 tsp. baking soda
2 tsp. baking powder
¼ tsp cinnamon
4 cups grated carrots
¾ cup chopped walnuts

Frosting Ingredients:
4 oz. stick of butter
8 oz package of cream cheese
2 cups powdered sugar
1 tsp vanilla

Preheat over to 350 degrees.

For cake: combine sugar, eggs, oil, flour, soda, baking powder, salt, cinnamon, grated carrots, and chopped nuts.  Pour into a 13×9 inch greased pan and bake for 40 minutes.  Or I love bundt cakes… pour batter into a floured and greased bundt cake pan and back for approximate 50-60 mintues (I find the bundt cake cooking times can vary drastically so check periodically.)

For frosting:  blend butter and cream cheese.  Add powdered sugar and vanilla. Frost. Serve. Eat.

This recipe is awesome for any brunch, birthday celebration, Easter Sunday, or just because you deserve a fabulous slice of carrot cake at the end of the day!

Check out all of our favorite recipes by clicking here.  I don’t post anything that isn’t easy or a crowd pleaser!!

 

It is my true pleasure to  work hard for my clients and your referrals throughout Massachusetts and Rhode Island.  Please let me know what questions you may have and how I can be of the best assistance to you.

Jen McMorran, Realtor

Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Associate
New Homes Team
Kensington Real Estate Brokerage
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

real people. real estate. 

Best 5 Icon LogoServing clients throughout
Massachusetts & Rhode Island.
Boston – Attleboro – Providence
and the communities in between.

 

 

A Note to My Clients during this Incredible Time

To think I thought February dragged on forever this year…

March 2020 clearly has been the longest month on record during my time on this beautiful earth.  What began with a nice weekend in New York City where we enjoyed a gorgeous hotel with amazing views, a long awaited visit with my grad school best friend, a fun ferry ride on the river, the powerful 911 Museum and all it represented, and our friend’s XFL game at MetLife Stadium then all lead perfectly into a relaxing getaway with my daughter to visit my mom in Florida for her freshman year Spring Break.  We spent a week in the sun, hanging by the pool, eating out, and hearing just bits and pieces about the Corona Virus arriving to the United States.  By the end of the week, things clearly were quickly evolving as we bought the last two canisters of Lysol wipes at the local CVS for our flight home and cherished the last bits of a travel sized hand sanitizer that we found in my carry on.

Upon arrival back to Massachusetts, we packed our daughter up and dropped her back to college.  Those next few days then felt like weeks as news and fresh data started to be shared.  Every hour it seemed there was a new development and just five days after we had dropped her off, we were back up to Weston with two cars to pack up her dorm room for good.

I am sure you all have very similar and surreal stories of your own.  With companies transitioning work to home offices, schools closing and sending kids home, parents figuring out home schooling, and many many of you facing layoffs and business closings.  Working in real estate and new construction, I have faced these challenges with my clients and I face a lot of uncertainty myself.

So what I am thinking now?

First and foremost, your top priority must be taking care of yourself and your loved ones. I am still working, but know that real estate will be there for you on the other side of the Covid-19 crisis as well.

There are absolutely some buyers and sellers who need to buy and sell now and we are working with them to make that happen. If you feel more comfortable waiting, take assurance in the fact that we were in the middle of a strong economy and a strong housing market when the Covid-19 hit. I am confident there are going to be buyers and sellers anxiously awaiting you once this health crisis has resolved.

Please know I am available and I am happy to be a resource to you at anytime and for anything.  I have a solid network of other professionals who are eager to be helpful to you as well.  Mortgage officers, attorneys, contractors, plumbers, electricians, etc.  I am just a phone call or e-mail away (508-930-5259, jen.mcmorran@gmail.com)

We’ll get through this … we have before!

All of the best and stay well,

Jen

Jen McMorran, Realtor

Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Associate
New Homes Team
Kensington Real Estate Brokerage
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

real people. real estate. 


Best 5 Icon LogoServing clients throughout
Massachusetts & Rhode Island.
Boston – Attleboro – Providence
and the communities in between.

Mortgage Interest Rates at Five Decade Low!

What you do today can improve all your tomorrows.      –Ralph Marston

With mortgage interest rates hovering at near historic lows, now is a great time to look back at where rates have been to truly appreciate where rates are now.

Mortgage rates are now averaging around 3.5%  – they are hovering near a five decade low.  That is right – a five decade low.   And buyers are ready to take advantage of that with mortgage applications up 15% over a year ago.   This is shaping up to be an early and strong spring real estate market in Massachusetts and Rhode Island with mild weather continuing and eager buyers ready to find their next home sooner than later. Interest rates over time

Give a call 508-930-5259 or send an e-mail jen.mcmorran@gmail.com  if you’d like to discuss how now might be the time for you to start your home search.  My team is ready to support and guide you every step of the way from getting pre-approved for your mortgage, finding a home, negotiating an offer, securing a qualified home inspector, and hiring an attorney to review your contracts and coordinate your closings.

Without a doubt, capitalizing on current mortgage interest rates to purchase a home today will absolutely pay off for you as a homeowner tomorrow.  The impact your interest rate has on your monthly mortgage payment can be significant.  Let’s see how we can make current real estate and mortgage market conditions work for you!

It is my true pleasure to  work hard for my clients and your referrals throughout Massachusetts and Rhode Island.  Please let me know what questions you may have and how I can be of the best assistance to you.

Jen McMorran, Realtor

Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
MA & RI Licensed Real Estate Sales Associate
New Homes Team
Kensington Real Estate Brokerage
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

real people. real estate. 

Best 5 Icon LogoServing clients throughout
Massachusetts & Rhode Island.
Boston – Attleboro – Providence
and the communities in between.

Reflecting on 2019

2019-2020 Jenn Wood (1)

It’s here… can you believe it is 2020?  Seriously, 1990 is now just as far in the past as 2050 is in the future.  Crazy.   And I can’t believe I have been away from BeHomeBeWell for so long.  I am thrilled to be able to dedicate some time to share here once again.

Reflecting on 2019 I am proud to say that as a Mom I made it through the college application process, FAFSA application process,  final dance recitals, senior prom, high school graduation, and then dropping my daughter off for her freshman year of college – all during one of the busiest and most successful years in real estate I have had.

A huge thank you to all of my amazing buyers and sellers.  I couldn’t have done it without you.

As my clients, you all had very different stories.  Different challenges.  Different motivations.   But, together we go it done, no matter the obstacle.  It was your willingness to collaborate and work towards a solution that lead to so many homes being sold, so many homes being bought, and so many homes being built.  What an honor to have had the opportunity to work with each one of you!

And congratulations on so many of your blessings over the past year!  Engagements, weddings,  babies, new homes, retirements, cancer remission, new jobs, new puppies, exciting home renovations, and even a much needed transplant for a very deserving gentleman.   Just amazing and know I have celebrated all of that with you.

Along with the celebrations there have also been struggles and sadness.  Many lost loved ones, dealt with incredible mental health and medical diagnoses,  had jobs eliminated,  suffered injuries, and faced sudden and unexpected financial difficulties.   Life has a way of challenging us that is for sure.    There were many moments I would cry quietly in my car thinking of all you were enduring … no doubt about it, life is hard.

Sharing your personal journeys and your real estate journeys has allowed me to continue to grow,  learn, and appreciate all of my amazing blessings. Thank you again for allowing me to earn your trust and be a part of making your last real estate move whether buying or selling.   I also wanted to let you know, that once again, as each of your deals closed this year, you made a difference in the lives of children living with serious illnesses and their families.  Jen, Avery, and Zoe Hole In the WallMy family tucked away $100 per closing to donate to an organization very near and dear to our hearts – The Hole in the Wall Gang Camp.  They made all of the difference for us when our daughter  Zoe was diagnosed with brain cancer and they still continue to make a difference today for Avery, Pat, and me as we learn to live as a family of three now.  This year we donated $4000.  We could not be happier about making such a big contribution to such a worthy cause.

Heading into 2020, I wish you much happiness and health in the year to come…

If there is ever anything I can do for you or anyone you may know, please do not hesitate to reach out.

All of the best,
Jen

Jen McMorran, Realtor

Jennifer McMorran, Realtor, SRES
New Construction & First Time Home Buyer Specialist
Senior Real Estate Specialist
MA & RI Licensed Real Estate Sales Associate
Kensington Real Estate Brokerage
508-930-5259
Jen.McMorran@gmail.com
www.jenmcmorran.realtor

real people. real estate.

Best 5 Icon LogoServing clients throughout
Massachusetts & Rhode Island.
Boston – Attleboro – Providence
and the communities in between.