Norfolk County MA Real Estate News

Get real estate news and market updates of real estate homes for sale in and around Norfolk county in areas like Wellesley, Natick, Brookline, Newton, Needham & Weston MA.

Jan. 4, 2017

What Happens During the Closing Process?

 

The closing process is very important, but it can seem overwhelming.There’s a new mortgage process called TRID, and if you just work with your real estate attorney, it will all go flawlessly.

 

When you’re at the closing table, the bank attorney will give you the most important document, which is the note itself. The note will be about 16 pages long and detail everything about the mortgage, including the rate, terms, and amortization schedule.

 

The other key document is called the closing document, which used to be known as HUD. The closing document spells out everything. You get the closing document three days before you actually close on the property, so make sure you review everything. If you have any questions, get with your attorney so they can answer them.

 

Other key things to pay attention to include the down payment, what the bank is funding, and other fees like attorney fees, courier fees, and mortgage fees. Review everything before closing.

 

 


Review everything before closing on the property.

 

Finally, there’s title insurance. There is an owner policy and a lender’s policy. You don’t have an option not to pay the lender’s policy. However, you can choose whether or not you want the owner’s policy. I recommend buying the owner’s policy; it will protect you down the road, and it’s a minimal expense for maximum protection.

 

After everything is signed and done, you get your keys to your new house! If you close at the registry, they will type it up and report it right away. If you close at the attorney’s office, it can take a few hours. If you close in the morning, you can get into your house that afternoon. If you are at the attorney’s office in the afternoon, be aware that you might not get the keys until tomorrow morning.

 

If you have any questions, give us a call or send us an email. We would be happy to help you!

Posted in Buying
Dec. 20, 2016

Which Inspections Are Most Important?

 

When you buy a home, it’s important to do due diligence on the property. Most of this is taken care of by inspections. There are a number of different kinds of inspections you may need in your home—how do you know which ones to order?

 

The first is a building inspection. This is the general home inspection most buyers get where they look for major flaws with the systems and structure of the home. They are mainly looking for anything that can be a health or safety issue.

 

The next inspection to consider is a radon inspection. Any radon level over four picocuries per litre (pCi/L)requires us to take action. We just had a home that was at eight picocuries per litre but we got it back under two. There are two different types of radon inspections. One involves placing a cannister in your home, then sending it off to a lab to get measured. It will usually take five to seven days. The other option involves a machine in your basement that will allow you to get the results a few days quicker. However, this option is more expensive.

 

A pest inspection is also something you should consider. A pest company will come out and take a look to see if there is anything of concern in your home, for a nominal fee, of course.

 

If you have an older roof or think there may be some leaks, it may be worth it for you to have a roofing company come out and take a look. Otherwise, the building inspector will be able to tell if something is up in most cases.

 

If you have a chimney, you should probably get it inspected as well. Chimneys can be expensive to repair, but they don’t have to be if you’re proactive about getting them taken care of.

 

You can also go to your town’s engineering department to pull the records from your sewer line. It will tell you what’s going on. It’s definitely something worth looking into.

 

If you have any questions for us, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.

 

Posted in Buying
Dec. 5, 2016

The Top 5 Ways to Prepare for a Winter Home Sale


If you're planning on taking advantage of the great fall and winter market by selling your home, there are five key things you need to do to prepare your house:

  1. Curb appeal. I always say people will make a decision about your house within five or six seconds of walking up. Make sure the leaves are cleared, everything is picked up and cleared from the lawn, and it has a nice presentation. Putting out some mums or seasonal plants is a great idea, too.

  2. Holiday decoration. We all want to celebrate, but don't overdo it with the holiday stuff. It's fine to have some holiday decor because, after all, buyers will expect to see it when they walk in. Just don't do too much.

  3. Make it an inviting space. You can achieve this with smells, like a seasonal candle.

  4. Fireplace. If you don't use it much and there are a lot of ashes, it might give off a strong smell, so keep it clean. If you know a showing is coming, start a Duraflame log or a small fire. It's always welcoming to have a fire going during a showing.

  5. Fall sense. Create that cozy sense of fall in your home in any way you can. As I mentioned, a scented candle like cinnamon or pumpkin spice can really help here.


If you have any other questions about making your home stand out during the fall or winter selling season, give us a call or send us an email soon. We'd be happy to help you out!

Posted in Selling Tips
Nov. 10, 2016

What Is Happening in the Boston Market?

 

Today I’m here with your fall market update.

 

Usually, the fall market is a little bit soft. However, only 10% of homes currently on the market are under the $1 million mark. As a result, home values are definitely higher right now.

 

Another thing that’s unusual for fall is the number of homes on the market. Right now, there are 156 homes for sale. Typically, there are only about 90 to 100 homes on the market because fall usually turns into a buyer’s market.

 

In the spring, the average days on market is usually about 30 to 40 days. In the fall, the average days on market goes up to about 70 or 80 days, as homes tend to take a little longer to sell this time of year. That trend will continue through Thanksgiving and Christmas, but you will start to see the average days on market drop again in February.

 

As for multiple offers, we are not seeing as many multiple offer situations as we were in the spring and summer. If you are priced under $1 million, though, your home can get a few offers. If your home is priced right at or just below market value, you will draw multiple offers, just not as many as you would in the spring.

 

 


Interest rates are still incredibly low right now!

 

 

Finally, interest rates are still very good right now. You can get a 30-year fixed loan with a 3.2% interest rate. The 15-year rate is down to 3.5%. However, depending on how the election goes and on what happens in our economy, we may start to see those rates pick up after the first of the year.

 

If you have any other questions about our current market, give me a call or send me an email. I would be happy to help you!

 

Posted in Market Update
Oct. 17, 2016

The 6 Steps of Making an Offer on a House

So, you’ve found a house. How exciting! The next step is writing an offer on that house. There are six steps to this process:

 

  1. The deposit check. Typically, this is a thousand dollars.
  2. Determining when the purchase and sale is. This is a date you will negotiate with your agent. 
  3. Discussing the closing date and contingencies. Do you have a mortgage contingency? Do you have an inspection contingency? Any additional contingencies you may have, we would be happy to walk you through.
  4. The inspection.After the offer is accepted, you typically have seven days to make an inspection. The inspection can be a variation of different things through which your Realtor will guide you. During an inspection, the key is to look for anything major, such as structural issues or health concerns. 
  5. The negotiation of the inspection items. You negotiate the most important inspection items with the listing agent. Depending on how the inspection went, they’ll either do the work themselves, give you a cash credit, or nothing at all.
  6. Hiring a real estate attorney. You hire a real estate attorney after all parties have agreed to the terms of the inspection. The real estate attorney will negotiate with the listing agent’s attorney over the purchase and sale (P&S) contract. After this is completed, there is typically another deposit. Here, we ask for 5%. (Deposit could be more or less, however typically I have seen 5%) When your agent receives this, all the parties sign, and you’re good to go

 

In our next video, we’ll be talking about wrapping up the sale. If you have any questions in the meantime about making an offer, you can reach me by phone or email. I look forward to hearing from you!

Posted in Buying
Sept. 13, 2016

Home Search Tips for First-Time Boston Home Buyers

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

 

Buying a home is an exciting time. First-time home buyers might find themselves overwhelmed, but there are a few things you can do to manage your home search. 

 

First of all, the agent you work with can set you up for a search online. That is really important because it allows you and the agent to see what homes you are interested. The agent can see which properties you’re favoriting and then find similar properties. 

 

Your real estate agent will also go out and preview homes. New houses come on the market all the time. A good agent is always out there previewing homes. When I go out and look at homes, I am specifically looking for my client. 

 


A good agent is always out
previewing homes.


 

 

When I walk out of a house my client might like, I call them immediately and set up a tour. Last week, I even took a video so my client could get a better feel for the livability of the home than they could from just a photograph. 

 

Finally, you can also look at homes with your agent on the weekends. On average, you can see four homes in one hour. If you go out for just two hours, you can look at eight houses. You can also go with your agent to open houses on Sunday. 

 

Once you find your house, it’s all about making the offer, which we will cover in our next video. If you have any questions in the meantime, give me a call or send me an email. I would be happy to help you!

Posted in Buying
Aug. 24, 2016

How to Find the Right Buyer's Agent in Boston

 

 

Today I wanted to focus on hiring a buyer's agent in Boston. Here are some questions you should be asking during this process.

 


It's important to find an agent
who focuses on buyers.


 

  1. Do they only work with buyers? It's important to find an agent who focuses on buyers, has the heart of a teacher, and loves what they do. 
  2. Do they represent buyers and sellers on the same house? In this competitive market, you only want a buyer's agent who's working on that house to help you get it.
  3. What is their fee? We get our fees from the seller. Some contracts don't pay all the fees from the seller, however, which could leave you responsible for paying.
  4. Is it beneficial to have a buyer's agent negotiate on your behalf? I would hire an agent to do this because I want somebody that knows the neighborhood, the market, and what other houses have sold for. I also want someone who does this full-time and is honest with their clients.
  5. Why do I need a buyer agency contract? Whenever this contract comes up, people get really scared about it. But guess what? We've had listing contracts for as long as real estate has been sold. In my 13 years as a real estate agent, I've always included this contract. The buyer agency contract is important because it represents a mutual relationship between you and your agent. Usually, I tell clients to come out a couple times; if you like me, and I like you, and it looks like a good relationship, let's both sign the contract. I will be committing to you, and you will be committing to me. And the seller will pay the fee!
I have a full list of 15 key questions to ask, and I'd be happy to send them to you. Just give me a call or send me an email. I look forward to seeing you!
Posted in Buying
July 15, 2016

The First Step in the Boston Home Buying Process

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation 

Call us at (781)-929-4994 for a FREE home buying or selling consultation

 

Getting pre-approved is not only the first step for home buyers, it is also the most critical. First, you should find a good mortgage person to work with. We have a handful of lenders we trust that we can recommend to you.

The main point of the pre-approval is to find out what the bank will lend you and what kind of mortgage you are comfortable paying for. Banks typically give you more money than you actually need to purchase a house. It’s important to look at the entire monthly payment in order to figure out what loan amount works for you.

In order to get pre-approved, you need two years of tax returns, three months of bank statements, and any information you have on outstanding loans. Get everything together and show it to the bank. This is important in order to figure out how much you can afford.

There are also many different loan programs available to you. Some loans come with certain interest rates and some run for a certain amount of time. For example, you can get a 30-year fixed loan, a 15-year fixed loan, or a 5-year ARM loan. If you’re just getting a starter home and you only plan on being there for about seven years, the ARM loan might be best for you. It all depends on your unique situation.

If you have any questions about the pre-approval process, give us a call or send us an email. We would be happy to help you!

Posted in Buying
June 28, 2016

Tips for First Time Buyers in Boston

 

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation 

Call us at (781)-929-4994 for a FREE home buying or selling consultation

 

Buying a home can seem overwhelming, especially if you are a first time buyer. Here are the basic steps you need to know about in the home buying process:  

1. Get a pre-approval.

2. Find a good buyer’s agent. Interview several agents in order to find the right one. 

3. Start the search process.

4. Find your house.

5. Have an inspection.

6. Hire a real estate attorney. The attorney is critical, because they will help with the next step.

7. Purchase and sale.

8. Deposit check.

9. Apply for your mortgage. This happens about three weeks after your purchase and sale.

10. Final details. Get your homeowner’s insurance, call movers, turn on utilities, and wire the funds for closing.

11. Close and move into your new house. This is the best part - enjoy your new home!


We will go into more detail on these in the future. If you have any questions, give us a call or send us an email.

Posted in Buying
May 28, 2016

What Are the Latest Market Trends and Conditions in the Boston Area?

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation 

Call us at (781)-929-4994 for a FREE home buying or selling consultation

 

I am currently one of the top listing agents in the area, but this didn’t just happen overnight. It took a lot of hard work and it was a very long journey to get to where we currently are.

 

We built our team by having a nuanced view of how the market works and identifying trends as they appear. For instance, right now, we’re noticing a fair amount of people who are downsizing and moving into Boston. We’re also seeing a lot of first-time buyers who are moving out from Boston and are looking to start a family. In addition to these types of buyers, we’re seeing a lot of relocation buyers, which is a buyer pool that we do a lot of business with. Having our finger on the pulse of the market allows us to see these trends and use them to help our clients buy and sell real estate.

 

"Our understanding of market trends is how we help our clients accomplish their goals."

 

If you’re curious about other trends we’ve seen in the greater Boston area, listen to the excerpt from my radio interview posted above or give us a call or shoot us an email. We would love to help you accomplish your buying and selling goals!

Posted in Market Update