The Federal Housing Authority, or FHA, provides mortgage insurance for people who purchase properties with less than twenty percent down. Some borrowers can only get their low down-payment loans through FHA, because no other institutional lender will qualify them. There is a difference with FHA loans. They weigh the condition of the property more than
The Boston Globe published an article about the possibility of a slow-down in local real estate. “... houses are taking longer to sell, and when they do, they’re more likely to sell below listing price than they did a year ago. Also, the number of homes on the market, particularly condominiums, is up. The market
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What do you do if you have radon above the action level of 4.0 pci/l? What does it cost to make your house safe? There are tried and true cures for that problem. To mitigate for Radon, a system is installed that creates a slight vacuum under the basement slab. This keeps the radioactive
What is Radon and why should you care? According to the EPA: Radon is a naturally-occurring, invisible and odorless radioactive gas. One in 15 American homes contains high levels of radon. Radon gas is not isolated to certain geographical areas or home types. Radon problems have been detected in homes in every county of the U.S.
Residential exemptions make a big difference to property taxes in Massachusetts. While doing a comparative market analysis for a client, I noticed that half the condos were paying almost twice as much in taxes than other condos that were pretty much the same size and location. The difference wasn’t that some were renovated, thus worth
A joke: Economists have forecast ten out of the last three recessions. Real estate recessions happen when something big affects the economy in general. Because it takes longer to buy and sell real estate than to shift assets in a stock or bond portfolio, real estate recessions take hold more slowly than general economic recessions.
When house hunters calculate their monthly costs, some overlook the cost of heating and electricity. However, it is difficult to get an accurate estimate of your future costs. Current usage cost: Electric and gas companies in Massachusetts will provide the current cost at a specific residence. Some listing agents will provide it. It is a
What’s their pitch? Redfin is selling a new service for buyers in the Boston area. We are exclusive buyer's agents, and it hasn’t affected us a bit. Why? Because their pitch is aimed at people who don’t know what they don’t know. Our clients are smart enough to know that they should NOT be managing
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