The Downpayment Toward Equity Act proposes up to $25,000 in financial assistance to cover the upfront costs of a home purchase for first-time homeowners. Who is a first-time homeowner? Hint: Some “first-time homeowners” have actually owned a house or condo before. A first-time home buyer is anyone who hasn’t owned a primary residence in the
Somewhere around May or June, I started mentioning to my agents that we might experience an election slump. We’ve had one every Presidential election year, except 2020. Would the pattern begin again in 2024? If there is an election slump, it’ll be happening any minute. Hint to buyers: any reduction in demand is a good
Over the past few years, there have been some big changes proposed in the way that housing is taxed in Massachusetts. One change is on the ballot, as a ballot initiative, in the City of Somerville. 4 Buyers Real Estate supports “yes” on Ballot Question 6 in Somerville. The Community Preservation Act Surcharge is a
Once our clients buy their house, they begin a 10- or 20- or 30-year process of maintaining and upgrading the thing. Some will turn a fixer-upper into a showplace and others – sigh -- will turn a showplace into a fixer-upper. Most people buy a house and change it to make it their home; they
If you are buying a single-family or a two-family house, you will need to purchase a year of homeowner’s insurance before closing. That insurance is reviewed by your lender, so they can be confident that you are fully covered, regarding their interests in your home. At closing, you will be paying an additional 2-4 months
The Boston Globe published this about the pressure buyers have been facing when making an offer on real estate in eastern Massachusetts. That was in 2021. It is looking like the pressure will be lifting in 2024 into 2025. The market: When the housing shortage and high demand gave sellers more offers to choose from,
Junk data hurts buyers by creating distraction from understanding market value. Buyers need to know market value in order to negotiate for a fair price. Assessed value is not the way to figure fair market value. But, but, but…how can a property be worth more than what the town or city assesses it for? Don’t the
There is a world of difference between what 4 Buyers Real Estate means when it calls itself an Exclusive Buyer Agency and what the various local offices of the National Association of Realtors means when they say “exclusive.” When Realtor Associations say “exclusive”, they mean that the buyer is responsible to work exclusively (only) with
Everybody wants a house that abuts a park, right? Well, no. It is one of the many “it depends” situations in real estate. If the noise issue is noticeable, some buyers will be turned off. So, even if it doesn’t bother you, it might bother future buyers, when it’s your turn to sell. What are
As of August 17, 2024, Realtors are no longer allowed to share information about what commission is being offered to buyer’s agents through the Multiple Listing Service. A court order from a class action lawsuit in Missouri abolished the sharing of real estate agent fees through the Multiple Listing Service. This change was meant to