Boston 2018 – Real Estate Roundup

Here are snapshots of real estate activity in selected Greater Boston Area communities for 2018: Newton, Needham, Roslindale, and West Roxbury. You can see how some key indicators in 2018 compare to 2017 activity. Specifically, there are graphs that show the number of houses sold for each of the two years, the average sale price, and the average days on market, We’ll also take a quick peek – before we close – at anticipated activity in 2019.

Getting to “SOLD” in Real Estate.

Owners who try to sell their home without an agent are frequently successful in getting a signed contract from a buyer for an acceptable price. Unfortunately – all too often – they learn the hard way about the number of problems that can come up and interfere with getting to “SOLD”. A contract that doesn’t close typically has a negative impact on the purchase price of the next offer…future buyers tend to be very suspicious of why the first offer didn’t get to “SOLD”. Here are some of the many ways that a good agent can help you navigate through the sea of problems and get you to “SOLD”.

Mortgage Appraisals

If you apply for a mortgage for your home purchase, the bank or lender will require an appraisal of the property. Here is a list of some basic questions and answers about appraisals. For the sake of simplicity, we will assume the most typical scenario: the appraisal is for a mortgage for 80% of the purchase price, and you will be covering 20% of the purchase price from your own money. If you need to borrow more than 80%, or have enough of your own money to borrow less, the basic concepts are the same but. there are some significant differences. We will cover the less typical situations in future posts.

Prep Property for Showings – OWNER’S CHECKLIST

There are many things that need to be addressed before property showings. For the most part, these things involve using common sense, for example, removing bad odors and unsightly messes. It is simply a matter of addressing all the things that can interfere with a buyer’s falling in love with your property and making a … Continued

HOME INSPECTIONS – 12 Things You Really Should Know

1. Do I need to have a home inspection? No, it’s up to you whether to have an inspection.  But a good agent will never tell you don’t need an inspection.  You can actually sue an agent if you take their advice to forego an inspection and then have an expensive problem that an inspector would … Continued

CONDOMINIUMS – 12 Q’s You Shouldn’t be Afraid to Ask

Everyone knows you can buy a condominium – a “condo” for short – and become the proud owner of a unit within a building. But, it’s not so obvious exactly how condominiums work and what it all means. So, let’s look at the answers to some important questions about condos.

BUYING NEW CONSTRUCTION, UNDER CONSTRUCTION, PRE-CONSTRUCTION

There is nothing like a brand-new home. A home never lived in by another human being. Shiny. Up to date. Fully equipped and gadgetized. Charm and history are fine for other people, but they are not for you! You would sooner buy a used car than a used home. So, let’s look at all the benefits of new construction, as well as the pitfalls and how you can try to deal with them.

Mortgage Pre-qual and Pre-Approval

Why does everyone tell you to get a mortgage pre-qual (pre-qualification) or pre-approval before you start seriously looking for a house. And what’s the difference between the two? Which one is better for you? Let’s look at the answers to these questions.

Mortgage Rates: Why does it feel like Bait and Switch?

When you look at mortgage rates – whether on line, a sign in the bank window, or in a newspaper – you’ll see a simple interest rate as well as something called APR. Yet it seems that neither is the rate that you get at the end of the day. Why is that? Does it go up depending on how gullible you look to the lender? No, there are good reasons for the final rate you get quoted. First, let’s first look at the two types of rates just mentioned, then we can look at how the rate that you get in the end will be determined.

Pricing your Home for Sale

Pricing your home for sale simply means deciding what the Asking i.e. Listing Price of your home will be. In other words, deciding on the dollar amount that you and your agent will ask for your home in all the published data bases and marketing materials. Typically, a serious estimate of the home’s worth i.e. value is the starting point. The objective is to price the home – bearing in mind its estimated value – so that you will get the highest possible Sale Price. Of course, the Sale Price isn’t final until the house is actually sold. So, let’s look at each of these things and discuss how to price your home strategically so you get the highest Sale Price. That’s the bottom line, isn’t it?