condo issues

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 |2019-08-07T12:27:02-04:00August 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: , , |

Avoid a Flood for $30

About five years after I moved into my house, I was working from home. I spent the morning writing and had a lunch date with a former client. At about 11:30, I heard water running in my basement. Home inspectors will warn you. New home owners don’t listen, including me. I went down to investigate

More about musicians, condo/two-family living, and pianos

Here’s more about sound-proofing and housing grand pianos. When I first published my blog about musicians in 2012, I was writing for Boston.com/RealEstateNow (which has since been taken off the web.) I got some great feedback that I share now about what musicians need to know to live happily in eastern Massachusetts: Part I: Building

Going Solar in a Condo Association

It gets complicated when you want to use a condo roof to harness solar power. Who pays for it? Who gets the power? Who gets the rebate when you sell power to the grid? Newly built condos have the advantage of having the solar (PV) system as part of the initial purchase. Adding it later

By |2016-12-28T14:00:59-04:00August 10th, 2016|Categories: condo issues, Energy efficiency|Tags: , , |

Condo rules. Why do you need them?

When our clients consider buying into a condo association, we remind them to check the association rules. The rules are binding and affect daily life. Some of the rules that irk our clients actually make some sense, when you remember that condos are owned by people. People will be people. Bigger buildings often have rules about

Hard Hat and Hard Sell

Are you looking at buying a condo in a building that’s still being built? Here are the tell-tale signs that you are being given the hard sell: You are brought into a showroom. You are offered a drink, and sometimes food. You are shown the materials that will be used. You are shown a chart