Hopkinton High School was ranked #3 among Best Schools in the State of Massachusetts and #89 among Best Schools in the nation! The U.S. News [...]]]> U.S. News and World Report’s List of Best High Schools in America for 2012 placed Hopkinton High School among those earning a gold-medal rank.

Hopkinton High School was ranked #3 among Best Schools in the State of Massachusetts and #89 among Best Schools in the nation! The U.S. News and World Report rankings included an analysis of 21,776 public high schools in 49 states and the District of Columbia. Only 2% of these high schools earned the coveted gold.

The U.S. News rankings show that quality education is alive and well in public schools – especially right here in Hopkinton, Massachusetts! Private schools are not included in the annual rankings, as they are not required to employ the state proficiency tests used by public schools.

U.S. News used rated American high schools based upon the following methodology:

1. Performance of students as a whole against the statistical averages in the state, including math and science proficiency tests.

2. Performance of disadvantaged students at the school against statistical averages.

3. College readiness, using Advanced Placement and/or International Baccalaureate test data.

To achieve a gold ranking, a school had to place strongly in the first two categories, and also meet or exceed the median benchmark for college readiness. In other words, the majority of students needed to have college-level coursework as part of their curriculum. Of the 21, 776 schools nationally evaluated, only 500 were awarded a gold rank, and these are listed numerically in order of overall performance. 

Hopkinton High School’s national rank of #89 and our state rank of #3 are proud achievements for the faculty, students, and community!

Hopkinton homeowners benefit by this news, as demand is always strong for homes in good school districts. Good schools are a selling point and can help improve home values! And if you are a home buyer with school-age children, it makes sense to consider Hopkinton in your home search. 

The quality of life in Hopkinton, Holliston,Westborough and Southborough make living in Middlesex or Worcester counties a good choice! If you have questions about buying or selling a home, contact me for the best in local real estate expertise. With 25 years of experience, I’m a seasoned real estate professional who delivers results!

John Savignano
Hopkinton, MA Real Estate Expert
RE/MAX Executive Realty

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Once [...]]]> First, the good news: Starting June 15, mortgages backed by Freddie Mac and Fannie Mae will have a faster response to short sale requests. The new rules require their mortgage servicers to confirm receipt of a short sale request within 3 business days. Within 5 business days, the servicer must specify any other documentation requirements.  

Once all documentation has been received, the mortgage servicer must accept or reject the short sale offer within 30 days. If further review is needed, the servicer must provide weekly status updates. Short sales can take longer if a second mortgage or other lien exists on the home. All parties with a security interest in the home must approve the deal.

Since Freddie and Fannie hold more than half of all residential mortgages, the process improvement in short sales could add a boost to overall home sales this year.

There’s just one catch: The Mortgage Debt Relief Act of 2007 expires at the end of December 2012. Unless Congress takes action to extend the law, home sellers with closings in 2013 may have to count forgiven mortgage debt as income for tax filing purposes.

The Mortgage Debt Relief Act of 2007 allows taxpayers to exclude “income” from the discharge of debt on their primary residence. Debt reduced or forgiven via mortgage modifications, short sales and foreclosures generally fall into this description. The IRS sees forgiven mortgage debt as “taxable” because you received the benefit of the loan and use of the proceeds, but were released from the obligation of paying it back in full. To the IRS, the difference between what you borrowed and paid back is a monetary benefit, and therefore considered income.

What does this mean for home sellers in Hopkinton, Holliston, Westborough and Southborough?  If your home has negative equity and you want to sell, you need to take action now while the Mortgage Debt Relief Act could protect you. Of course, there’s the possibility that Congress will extend the law, but there are no guarantees. Visit the IRS.gov website to find out more. See your professional tax preparer for guidance.

Being a real estate professional for 25 years, I have hands-on experience in Massachusetts short sales. My attention to detail and prompt communication will ensure that your home sale goes as smoothly as possible. If you need to sell your home, use the leverage of a seasoned real estate professional who truly knows the local market.  Contact me today and I’ll be happy to help you!

John Savignano
Hopkinton, MA Real Estate Expert
RE/MAX Executive Realty

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Buying insurance for your Massachusetts home can be tricky and how to know what to buy and how much downright confusing. Bloomberg.com consulted consumer advocates, academics, financial advisers, insurance agents, and adjusters for advice on how to avoid overpaying, underinsuring, or missing out on claims you deserve to [...]]]>

Buying insurance for your Massachusetts home can be tricky and how to know what to buy and how much downright confusing. Bloomberg.com consulted consumer advocates, academics, financial advisers, insurance agents, and adjusters for advice on how to avoid overpaying, underinsuring, or missing out on claims you deserve to have paid.

Here are tips and tricks of the trade. Also check the www.mass.gov website

Use Buying Guides

Agents are paid by insurers to sell their products and often sell only certain companies’ policies. Some insurers offering lower prices, such as Geico and USAA, sell directly to the public. Before meeting an agent, read buying guides on state insurance regulators’ websites, such as Calfornia’s Insurance Dept. site to learn what insurance should cost and cover. Ask agents what they make on a sale, says Karrol Kitt, a professor at the University of Texas at Austin, and drill down on what policies cover. Ask them to verify answers with written proof. “Sometimes agents aren’t as knowledgeable as they should be,” Kitt says.

Be Wary of Cheap Policies

Insurance isn’t a “commodity like salt or sugar,” says Bill Wilson of the Independent Insurance Agents & Brokers of America. “There can be a dramatic difference in coverage from one policy to another.” One homeowners policy might cover all water damage, for example, while another might pay only if you notice it right away, excluding the effects of a pipe that has caused mold growth over a long stretch. In health care, coverage and price differences can be especially dramatic. “The cheapest is rarely the best,” Ditré says.

Raise Your Deductable

“Raising your deductible is the best way to keep your premiums down,” says Amy Bach, executive director of United Policyholders, a policyholder advocacy group. Even if you can afford the expensive premiums of a low-deductible policy, it should ultimately cost less to choose a high-deductible policy and create a bank account to insure your own small losses. Insurance should be for “catastrophic losses,” says Rutgers University law professor Jay Feinman. For anything less, “it often makes sense to absorb those yourself.”

Get Disaster Coverage

With disasters in the news, the importance of insuring a home against Mother Nature’s bag of tricks is all too clear. Fire insurance won’t necessarily pay out if the fire was caused by an earthquake–unless you have earthquake insurance. And coverage for hurricane wind damage might not protect you from the flood caused by the hurricane. (In Louisiana, only 29 percent of households are covered for floods, according to its insurance commissioner.) Flood insurance is available through the federal National Flood Insurance Program for an average of about $600 per year. On coastal areas and beachfront, coverage can be far more costly.

Don’t Underinsure

A dangerous way to lower premiums is to get too little coverage. Homeowners who can afford it would be smart to insure enough to cover the contents of a house–including artwork or other expensive items–and the full cost to rebuild a home on the site. This construction can be much more than the market value of a house, says public insurance adjuster Jack Kunz, president of Alex N. Sill. Also, many young families fail to get enough life insurance, says financial adviser Brenda Knox. Insurance agents sometimes won’t present a policy with full coverage for fear that the high premiums will scare off customers.

in Hopkinton, Holliston, Westborough, or Southborough. If you’re thinking of selling your home, or you just have a few questions, contact me! I’ll be happy to help you.

John Savignano
Hopkinton, MA Real Estate Expert
RE/MAX Executive Realty

Hopkinton Real Estate
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For more tips read the article from Bloomberg.com.