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House Hunters Blog

Saving on Private Mortgage Insurance (PMI)

Recently, my car insurance nearly doubled. No, I didn’t have an accident or get a ticket. I was up for annual renewal, and the algorithm at the company changed. My heads-up insurance agent noticed the change and moved me to another company. With the change, this year’s car insurance will be about $150 less than

By |2019-08-20T12:16:26-04:00August 14th, 2019|Categories: buying process, Mortgage matters|

Condo Conversion in Two-Family and Three-Family Housing

From a buyer’s perspective, the Somerville Condo Ordinance changes are a win. For renters, it is a major victory. I discussed these changes in last week’s blog post. The ink wasn’t dry on the Ordinance when the backlash began. Owners in Somerville received calls and letters urging them to sell now, before the new ordinance

By |2019-08-20T12:18:02-04:00August 7th, 2019|Categories: condo issues|Tags: , , |

Welcome, Condo Conversion Ordinance

Two-family house Condos for sale Everyone knows what condo conversion is, right? It’s when an owner changes a multi-unit building from a one-owner property to condominiums deeded by multiple owners. Typically, this would be taking an apartment building and selling off each unit, separately, as condos.  In Somerville -- the land

By |2019-08-01T11:25:07-04:00July 31st, 2019|Categories: condo issues|Tags: , , |

What is PMI and why do you have to pay it?

Private mortgage insurance (PMI) is an additional fee that borrowers who don’t have a 20 percent down payment must pay. It insures the lender, not the borrower. The lender’s costs to foreclose and resell the property could be more than the amount the borrower put down, initially, unless the lender has 20 percent up front.

By |2019-07-11T14:50:53-04:00July 17th, 2019|Categories: buying process, condo issues, Mortgage matters|Tags: , , |

Good luck! It’s rental season

Renting? Good luck! Boston is the third most expensive rental area in the country. If you are paying first and last month’s rent, and maybe another month’s rent in fees, it makes moving hard, financially. Renters are not our clients, but one day they may be. They are also the friends of our

By |2019-06-17T14:36:54-04:00June 26th, 2019|Categories: Uncategorized|Tags: |

Wedding bells and house hunting

June is a traditional time to get married. I recall one year, I had the pleasure of attending three weddings in a single season. Only one of the couples was seriously discussing buying a house soon. At 4 Buyers Real Estate, we often get calls from prospective buyers that require the immediate response “Congratulations!” They

By |2019-06-09T19:32:45-04:00June 12th, 2019|Categories: buying process, House Hunting|Tags: , , |

You have an accepted offer. Will the deal close?

“Did you know that if a seller receives only one offer on your property, that the probability that it will close is 90 percent. If a seller gets multiple offers, the probability that it will close is only 50 percent….” I heard this statistic in a negotiating training run by Bernice L. Ross. I queried

By |2019-05-31T10:21:41-04:00June 5th, 2019|Categories: buying process, House Hunting|Tags: , , |