Today we're offering our readers an exclusive first look at a few pre-market homes for sale in South Boston. None of the homes listed below are publicly available on any other site as of yet! As one of our readers you have an opportunity to see them first. We've included a short breakdown of our two featured pre-market properties as well as the general specs for one other pre-market home in the neighborhood. If you are interested in these properties or future pre-market opportunities please fill out our short form to get on our pre-market buyer list. From there we will reach out to you to discuss next steps.FULL ENTRY
I may be the only person who sees the word homestead and imagines old western movies, horse drawn wagons, and cowboys staking a flag in the ground to claim their rights to the land, and or an image of Tom Cruise in the 1992 blockbuster Far and Away in a race to claim his land. Whatever image the word homestead brings to mind, western cowboy land staking turns out to be an apt analogy for the Massachusetts legal document called the Declaration of Homestead. For those of you reading this article who own a property in MA that you occupy, or plan to occupy, as your principal residence, MA wants to offer you protection!FULL ENTRY
"The Southie ones were a bust. One unit had multiple offers before we could even get in and there was a line for the open house."~ South Boston Home Buyer
It may not feel like it, but Spring is here. At least the Spring Home Buying Market is here and is hot throughout Greater Boston. A common compliant most home buyers have is the lack of inventory. There are reports of lines out the door at open houses with many listings going under agreement after the first open house with multiple offers. If you are not armed with a pre-approval letter before you start your home search, you could be scrambling to get your paperwork to your mortgage advisor over the weekend before final and best offers are due by Sunday night.FULL ENTRY
Recently we posted an article about a new listing we had at in South Boston. The listing was for an updated 2 bedroom, 1 bath condo. It was the first time we had used this blog as an outlet for listings and the results were stunning.FULL ENTRY
Have you ever wondered what the difference in pricing is between a 1 bedroom and a 2 bedroom condo? What about upgrading from a 2 bedroom to a 3 bedroom unit? Today we've tried to answer this question by breaking down the average condo sale prices in and around Boston in the past 12 months. We are using a fairly simple methodology here and excluding all other factors except number of bedrooms. So condition, square footage, and number of bathrooms are not accounted for here.FULL ENTRY
Have you been looking to get into the South Boston market but haven't yet found the right property for your budget? Get into a huge 2+ bedroom condo in desirable City Point without breaking the budget at $425,000. At over 950 square feet this unit offers a ton of space for the money with extras like the deeded back fenced-in patio and deck, in-unit washer and dryer, stainless appliances, granite countertops and an extra room which can be used as a guest room, home office, or den. Do you know someone looking for a great place in South Boston? Share this post.FULL ENTRY
Do you have a college bound child? Why pay room or board or high city rents?
Boston is known for a lot of things and Higher Education ranks up at the top. With 58 total institutions of higher education inside 128 / 95 loop (excluding colleges and universities along the North Shore, South Shore and in suburbs to the west) metropolitan Boston enrolls about 250,000 students.
With so many students enrolled in the Boston area and rents on the rise many parents are taking advantage of a loan program that allows them to buy a one unit home for their college bound son or daughter.FULL ENTRY
As I'm sure you know Low Inventory has been the buzzword in the real estate industry for the last year. South Boston is no different and despite a surge of new listings last fall the market cannot keep up with buyer demand. Long story short, South Boston's real estate market needs your home!FULL ENTRY
When I first speak to buyers I go over a myriad of things, most important of which is monthly budget. We will connect with their lender and run numbers for their mortgage and principal. We'll then end up adding on our property taxes, home insurance estimates and PMI (if needed) to come up with their total cost and buying power. What many folks don't consider is the huge difference that property tax rates can make on your monthly budget. By utilizing the City of Boston Residential Tax Exemption you can significantly lower your monthly payments.FULL ENTRY
2013 was a whirlwind for the local real estate market and two areas in particular have been extremely hot for both development and resale. Both Somerville and South Boston have seen meteoric rises in prices in the past two years as builders have continued to gobble up inventory and turn it back over as condos. The charts below offer a glimpse of both markets in the past 8 years and show an eerily similar track record in terms of both average sale price and days on market.FULL ENTRY
The majority of the time this blog acts as a conveyance for both myself and other writers to educate and update you, the reader, on everything real estate. We talk about list prices, mortgages, appraisals, and more. In the life of this blog there will be a select few times where we veer off of this path to discuss something else. Today is one of those times. Two weeks ago this Saturday I trekked up to New Hampshire with friends, family and a special lady to get hitched. The stories, the fun, and the dances will remain close to the vest; however, as someone in the service industry I feel obligated to recognize folks that went above and beyond on our special weekend.FULL ENTRY
I recently reached out to Craig Barber of Fairway Independent Mortgage, a regular contributor here, to ask about potential article ideas and from that conversation came this amazing article from Adam Wiener of Aladdin Appraisals on how to use today's increased property values to drop your private mortgage insurance premiums and save on your monthly payments.
Have you given any thought to exactly what makes up your monthly mortgage payment? If you purchased your home with less than 20% down payment, you are paying private mortgage insurance (PMI). PMI is an insurance you agreed to pay to compensate for the higher risk the lender took on your purchase. With favorable market conditions in our area many home values have increased. The question to ask is; is my mortgage balance now lower than 80% of my homes fair market value? If so, you should remove the PMI immediately and lower your monthly payments putting that money back into your pocket.FULL ENTRY
As we cruise towards the spring real estate market many folks are getting their homes ready to sell. There are some important things you should get done before putting your home up for sale and we're going to cover that information in our first Home Seller Webinar on February 8th, 2014 @ 1:00PM EST. For more information on the webinar simply enter your email below. If you cannot attend on February 8th make sure to still register and receive a recorded version of the session.FULL ENTRY
We have a new exclusive rental at the W Boston at 110 Stuart St in Downtown Boston. This magnificent unit is available for immediate occupancy and resides on the 21st floor! Live in luxury and enjoy all the amenities of the W Hotel including Bliss Spa and Fitness Room. Wake up each morning to amazing views of the Blue Hills and South End. Interested in setting up a showing? Contact Justin Rollo of Re/Max Realty Plus for more information.FULL ENTRY
As you likely already know we're teaming up with Craig Barber of Fairway Independent Mortgage to put on a webinar for folks looking to buy a home in 2014. The first of these home buyer webinars is going to be Tuesday, January 14th @ 2:00PM. If you're interested in attending you can click here to reserve your spot.FULL ENTRY
Are you aiming to buy a home in 2014? Whether you are a first time home buyer or someone who is moving on from your current home there are some key things you should know about the local market and your mortgage options as the New Year approaches and we're here to help.FULL ENTRY
This is a common question I receive on a daily basis. Home buyers are trained to ask how much can their lender can pre-approve them for before they go out and start the home buying the process. Assuming your credit and down payment have been verified, lenders need to approve your debt to income ratio to ensure you are able and willing to repay your mortgage.FULL ENTRY
You've decided to sell your home. Great! Now what? Many folks who make the decision to sell their home fall victim to the following four pitfalls. By educating yourself about some common missteps you can save yourself from making a costly mistake when hiring an agent and listing your home.FULL ENTRY
As a follow up to his post about MassHousing loans from last month Craig Barber has created this extremely useful infographic explaining some key facts about MassHousing loans. Check out the infographic here for some key facts.FULL ENTRY
Typically winter is seen as the worst time of the year to sell your home. Sellers believe the holidays will get in the way, buyers don't like the cold, and open houses can be ruined in a blink by a snowstorm. While the temperatures are continuing to drop this December the local real estate market remains red hot, offering a unique opportunity for homeowners looking to cash in and sell.FULL ENTRY
To help our readers snap out of their tryptophan induced haze this Thanksgiving we here at Boston Real Estate by the Numbers thought we'd give you five amazing statistics about the local real estate market in 2013. Feel free to use these facts to sound smart in front of your family over the Holidays and most importantly one up your know-it-all uncle.
We're starting a new series of posts today which will chronicle the best places to live in Boston. Today we're looking at the best neighborhoods in the Boston area for employees of Mass General Hospital to live. We're looking at neighborhoods which are close in proximity as well as those which offer other perks such as suburban feel, lower housing costs and other relevant factors.FULL ENTRY
Most buyers assume that FHA is their only option when looking for low down payment mortgage options. They also assume that because FHA products typically have the lowest rate, they will also have the lowest possible payment with their minimum down payment.
In Massachusetts, MassHousing loans may make more sense than FHA loans to pursue if your scenario requires a low down payment.
As of this writing there are currently 5 active listings in Bostonís Charlestown neighborhood, one of which needs extensive renovations, and another which has sat for approximately 6 months due to issues with pricing and condition. This means amongst the entire neighborhood there are only 3 single family properties without significant drawbacks in price or condition. As a neighborhood that has seen many its older homes turned into condos over the years, this inventory shortage is likely not going anywhere; however, with rising prices and aggressive bidding wars becoming normal it is surprising that more long term residents aren't cashing in.FULL ENTRY
If youíre looking a buying a property in the Boston area, youíll likely be checking out some condos. As discussed on this blog, the Boston market is extremely hot and condos are one of the reasons why. Many buyers are priced out of single family residences and therefore look at condo units to purchase. Buying a condo in Boston is a different process than buying a single family. Not all condos are eligible for traditional mortgage financing. Why Not?FULL ENTRY