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Real Estate Blog for Arlington MA Real Estate, Somerville MA Real Estate, Medford MA Real Estate, call Accredited Buyer Agent Greg DiGiorgio 617-233-4530, RE/MAX Leading Edge Arlington MA for a buyer consultation or a customized marketing program for your home.
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Just Steps to Davis Square!
• 1,596 sq. ft., 2 bath, 2 bdrm single story -  MLS® $469,900 - Priced to Sell! Davis Square, Somerville - Tastefully renovated Philly-Style condo abutting the Minuteman Bike Path and just steps to Davis Square & Red Line! The eat-in kitchen features European Beech shaker style cabnts,SS applcs,granite cntrs,and recessed lghts.Other features included a formal DR,Central AC,HW flrs,and a fully finished lower level w/play & family rooms.Updates include wndws,roof,elctrcl, and heating & AC units.The backyard is large & perfect for entertaining.This is truly a gorgeous unit and will not last long!! Property information
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HouseLogic sat down with author and architect Sarah Susanka to talk about remodeling that builds value and saves money. Read If you’re ready to remodel your kitchen and want to go green, here’s how to create the healthy, energy-efficient, eco-friendly kitchen of your dreams. Read Keep the same footprint, add storage, and design adequate lighting so you preserve value and keep costs on track. Read Choose kitchen flooring that marries your priorities—durability, sustainability, low maintenance, or an open floor plan—with the options. Read Maintain your large kitchen appliances is part of a smart home energy efficiency plan. Read
Visit houselogic.com for more articles like this. Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®
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A Quality Renovation at its Finest!
• 1,653 sq. ft., 2 bath, 3 bdrm 2 story "2 Family Conversion" - MLS® $399,900 - Priced to Sell! East Watertown, Watertown - A quality renovation at its finest!Still time for the $8K first-time home buyer tax credit.This 3 bed,2 bath unit has been completely gut-renovated and boasts and brkfst nook eat-in ktch w/cherry cbnts,granite cntrs,SS applcs, and recessed lights.Other features include 9' ceilings, gleaming HW flrs,in-unit W&D,formal dining rm,mstr bed w/bath and dble closets,updtd utilities, and a common deck.Just steps to bus line and only minutes to Harvard Sq.Truly a gem and will not last long!! Property information
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Affordable & Convenient!
• 715 sq. ft., 1 bdrm apartment "6 Story Mid-Rise"
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MLS®
$179,900
- Priced to Sell!!
Arlington Center, Arlington
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Conveniently located between Arlington Center and Spy Pond! This Sunny 3 rm,1 bedrm 4th floor unit features a galley ktchn with solid wood cabinets,brand new stove,updated fridge,new flr,wall-to-wall carpet,and on-site storage.Relax on your balcony and enjoy views of the pond and the minuteman bike path.Also convenient to highways,buses,and restaurants.Why rent when you can own?Perfect time to take advantage of the $8,000 1st-time home buyer & $6,500 repeat home buyer tax credits. Won't last!
Property information
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N. Dorchester Triangle, Boston - The triplex at 757 Dorchester Avenue - Unit 3 has been sold. Property information
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Tastefully Renovated!
• 1,566 sq. ft., 1 bath, 3 bdrm single story "Craftsman Style Bungalow" - MLS® $419,900 - Just Listed! Hillside/Tufts, Medford - Sunsplashed Craftsman Style Bungalow located in Medford's desirable Hillside Neighborhood.Completely renovated ktchn w/a giant butcher-block brkfst island,SS applncs,expsd brick,recess lghting and formal DR w/built-in hutch.Other features include HW flrs throughout,dble sink corian vanity bath,new wndws,fenced in yard,updtd elctrcl,and stained-glass wndws.Bdrms are large incldng master w/walk-in closet.Just a short walk to new proposed Green Line stop.This is truly a beautiful home!
Property information
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Arlington Home Show Expo Presented by RE/MAX Leading Edge Saturday, March 6, 2010 Arlington Town Hall 730 Mass Ave. 11:00—3:00 Admission is FREE Voluntary donations to the Arlington Food Pantry would be appreciated! Featured Vendors... As well as local restaurants and caterers sampling their menus! If you are an Arlington business and would like to participate, please contact our office for more information 781-643-0430. Architect Attorney Artist Construction Contractor Cleaning Electric Eco Friendly Flooring Florist Food Handy Man Hardscape Heating Home Inspection Home Organizer Interior Design Kitchen Landscape Media Mortgage Lender Mover Painting Pest Plumber Staging And many more! Over 40 Home Improvement Vendors Seminars, Give-a-ways and Raffles!
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They are still working out the details but this is where they are at as of right now for Cambridge, Somerville, and Medford.
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The seller must be thrilled about this picture!
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Any Agents out there interested in buying a listing? I'm not!!!!
When I go out on a listing presentation I gather as much information as
possible before meeting with my potential clients. I include all
recent sales comparison in their neighborhood, including statistics
comparing from when they bought to when they plan to sell. I also take
a drive by the house and neighborhood to get a better understanding of
the subject property. I try cover all my bases before I meet with
them. However, at times I go up against agents that have a different
way of winning the listing, its called lying or as we call it in the industry, buying the listing!
It's also a violation of the REALTOR code of ethics. The lie is that
these agents give false hope the seller convincing them that there home
is worth substantially more than the other agents are quoting them.
Automatically the seller wants to list with the broker that comes in
with the highest number because the seller really wants to think their
house is worth that much. In reality, the agent is actually doing a
disservice to seller because we all know what happens to over priced
listings, they sit and sit.........and sit!! And the longer they sit
the further away from the sellers price you will go. Time is the enemy
when selling a home. Reports have proven that a home will actually net
less in the end if its sits on the market for a long period of time
than if it was priced correctly from the beginning and sold right
away. Not to mention the house will start to get this stigma about it
and perspective buyers may start to think there is a problem with the
house for not selling.
One way you may realize that your
Realtor has done this is if they list you home and no one or very
little traffic shows up after the first 2 weeks. During the first 2
weeks you should get your most traffic because your the new house on
the market. Its a buyers market and they are definitely out there. If
no one is coming then there is a problem. You may ask your Realtor
what the think and usually the first thing out of their mouth will be "Lets try a price reduction". The problem is a small price reduction on an over priced home is like bleeding to death by a paper cut!!
When
I sit down with my sellers I am very aware that they are looking at
other agents. I am also aware that some of the competing agents may
try to buy the listing. So what I say to my clients is this, I am not
in the business of listing over priced homes because I am not a
magician and they simply will not sell on their own. The other thing I
tell them is that if the other agent is feels so strongly about listing
at a higher price then he will not have any problem adding certain
verbiage to the listing agreement. Try something like
"It
is fully understood between listing agent and seller that at no time
during the listing contact will the listing agent approach the seller
for a price reduction".
Call their bluff!! Watch as they squirm in their chairs and begin to sweat and stutter.
Has this happen to anyone out there? Give me your thoughts!
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I get this question a lot in my profession. There are
2 types of title insurance. One is the bank title insurance which you are
required to get when you close your loan. This protects the bank should
any issue arrive in the future with the possession, ownership, or sale of the
property. You will see this title insurance on your GFE (Good Faith
Estimate) from your bank. However, the title insurance that is not
required to be on your GFE from your bank is the owner’s title insurance.
The reason is because it is completely separate from the bank and is offered by
the closing attorney. The owner’s policy is a one time charge at the time
of the closing and is usually a percentage of the purchase price.
Depending on you purchase price I've seen ranges of $600-$1,200 for the policy
at the time of the closing. If you decide to add owner’s title insurance
after the closing in the future usually the costs are double. So with all
that said, do you really need it? Absolutely 100% YES! The owner’s policy
protects the owner should a cloud be found in their title at any time during
their ownership or if they are trying to sell the property. It is
possible that that closing attorney missed something at the time of your
closing, now when selling something comes up. For example an old mortgage
from 20 yrs ago was never discharged properly, or someone forged signatures in
a sale 2 or 3 owners ago and someone is making a claim that your house is
theirs. These things can happen and if you don't have the owners title
insurance you will have to pay out of pocket to defend your home and
title. This can be costly when paying an attorney hourly. The only exception
would be if you were an investor and you were buying a house to flip and were
not going to have it very long and never intended to live there. But if
you are going to call the place home you better protect yourself and buy the
owner's title insurance policy!
*Consult your attorney for further details.
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The Federal Housing Administration (FHA) runs several programs to
promote home ownership. In most cases, FHA loans are mortgages obtained
with the help of the FHA. With a small down payment, buyers can
purchase a home. FHA loans make it easier for people to qualify for a
mortgage, however they’re not for everybody. What is an FHA Loan?
An FHA loan is a loan insured against default by the FHA. In other
words, the FHA guarantees that a lender won’t have to write off a loan
if the borrower defaults – the FHA will pay. Because of this guarantee,
lenders are willing to make large mortgage loans. Who Can Get an FHA Loan?
Almost anybody can get an FHA loan. There are no income limits like you may find with other first-time buyer
programs. However, there are limits on how much you can borrow. In
general, you’re limited to relatively small mortgage loans relative to
home prices in your area. To find the limits in your region, visit HUD's Website.
To qualify for an FHA loan, you’ll need to have reasonable debt to income ratio.
In general, you have to be better than 29/41. In addition, you have to
have decent credit. You don’t need wonderful credit to get an FHA loan,
it just needs to be decent. Why are FHA Loans so Great?
FHA loans are not for everybody. Nevertheless, they are a great help to
some borrowers. FHA loans allow people to buy a home with a down
payment as small as 3%. Other loans might not allow such a low down
payment.
FHA loans offer a few other bells and whistles:
- Easier to use gifts for down payment and closing costs
- No prepayment penalty (a big plus for subprime borrowers)
- An FHA loan may be assumable
- Possible leniency during financial hard times
How do FHA Loans Work?
The FHA promises to pay lenders if a borrower defaults on an FHA loan.
To fund this obligation, the FHA charges borrowers a fee. Home buyers
who use FHA loans pay an upfront mortgage insurance premium (MIP) of
1.5%. They also pay a small ongoing fee with each monthly payment.
If a borrower defaults on an FHA loan, the FHA uses collected insurance premiums to pay off the mortgage.
Why Not Use an FHA Loan?
You may find that FHA loans are not for you. An FHA loan may not
offer enough money if you need a large mortgage. In addition, the
upfront mortgage insurance premium (and ongoing premiums) can cost more
than private mortgage insurance.
In many cases, you can still buy a house with a very little
down using a standard loan (not an FHA loan). In particular, home
buyers with good credit can find competitive offers that beat FHA
loans.
As always, you should compare offers for FHA loans against other offers.
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This is a question that comes up quite frequently with my
buyer clients. It’s a tough question to answer. I guess it depends
on a few variables. First, if the property just came on the market and is
aggressively priced compared to the competition, and when you went to the open
house it was bombarded with people. In a situation like this I would say it’s
a good possibility that there will be offers coming in. Second, a
property that has been on the market for a while all of a sudden has a drastic
price reduction, I could also see the possibility of an offer coming in.
However, if the property has been sitting on the market and hasn't really moved
in price I would be a bit weary, especially if the listing broker is
claiming that time is of the essence and if you make an offer now they will
present it to the seller before others come in. This is where a good buyer’s
agent comes into the picture. Although it is hard to say for sure
if the listing agent is being sincere or just trying to get the deal, but an
experienced buyers agent should be able to weigh the variables and consult
their buyers accordingly. Not to mention, if you have been in the
industry long enough you start to know who to look out for!!!
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