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Home Buying in Suffolk County : Real Estate Advice

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  • Local Info0
  • Home Buying4
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Activity 465
Thu May 2, 2013
Masha Senderovich answered:
There are plenty of buyers that like splits. There are lots of them here, and updated is always Better in terms if resale. Also they often offer an option of finishing the basement and using it as space for an in law apartment ... more
0 votes 10 answers Share Flag
Tue Jul 1, 2014
CH Naamad answered:
orange line is the most popular T line in JP.
Some areas use the Green E line, but the gren line does not go that far in JP.
Best,
0 votes 4 answers Share Flag
Tue Apr 23, 2013
answered:
Get preapproved by a reputable mortgage lender (not necessarily a bank) first so that realtors will take you seriously as a buyer. Until then you can use Trulia, Zillow, Redfin to search for available homes. ... more
0 votes 17 answers Share Flag
Sat Nov 2, 2013
Rafael Hernandez answered:
You should contact a qualified mortgage broker and explain your situation. You can also contact your bank and they may have more answers
0 votes 9 answers Share Flag
Thu Apr 4, 2013
Rafael Hernandez answered:
You. Should contact a local realtor in the are. They would have the best advice and experience.
0 votes 6 answers Share Flag
Sun Apr 7, 2013
Michael Pallares answered:
Namaste Sadu,

While I wish I could give you specifics in terms of a expenses and time frame for purchasing a home, a great deal depends on your own timing and your overall expectations.

The time frame in which you can purchase a home is much shorter in the case of an all-cash deal but nonetheless timing is very much dependent on the extent of the home search itself; the seller's ability to close quickly; and the availability of homes available in the location you desire.

Your expenses leading up to the actual closing (i.e., when you take legal possession of the home) would include closing costs; the price of the home inspection; and, of course, moving costs.

I am a Certified Relocation Specialist with my firm and well-versed in dealing with clients moving to the Greater Boston area from outside of the country. I would invite you to contact me directly to discuss your home-buying needs in more detail. You can call me directly at (617) 899-3162; Skype is also an option for easier communications.

I look forward to speaking with you.

Many thanks.

Michael A. Pallares, Realtor
Coldwell Banker Residential Brokerage (Boston)
www.GoHomeWithMichael.com
Michael.Pallares@nemoves.com
... more
0 votes 10 answers Share Flag
Sun Apr 7, 2013
CH Naamad answered:
Please let go, and find another unit and let your broker clearly state to the seller broker that you want the unit.
However, if you do this, you may be taken for a ride.
Your situation sounds like an example of when some brokers put units on the market for a lesser $$ than the market requires and then have buyers outbid each other.
You are better off staying away from such deals.
Kind regards,
... more
0 votes 15 answers Share Flag
Wed Apr 3, 2013
Richard Shapiro answered:
I guess the big question is: how big is the chance of moving? Are you perpared to be a long distance landlord which means you may have to pay someone to manage the property for you?
0 votes 18 answers Share Flag
Mon Dec 30, 2013
John Yemma answered:
Hello,

The condo is located about .75 from BMC as the crow flies. The transit time from the address would vary depending on your mode of transit. Google Maps works well to get a ballpark idea.

Thank you,
John Yemma
Vanguard Realty
john@vanguard-realty.com
508.843.0085 direct
... more
0 votes 12 answers Share Flag
Fri Apr 26, 2013
Louis Wolfson answered:
As you know land is not depreciable. and typically and in high rise condo's the towns typically don't give the land a value. Therefore you can depreciate the entire value of the property. That said I would ask your accountant and you can only depreciate it if you rent the unit out as an investment. Remember when you sell you will have recapture. ... more
0 votes 2 answers Share Flag
Tue Mar 26, 2013
CH Naamad answered:
Buyer should always bring an ID at closing.
At closing, buyer pays off the balance of the purchase price, signs all the documents related to deed and mortgage, and get the keys to the property. ... more
0 votes 6 answers Share Flag
Mon Mar 11, 2013
Danielle O'Brien answered:
This question is a litte vague, but I'm tackling as if you are a buyer comparing various homes.

Besides price, factors such as insurance and taxes (escrow requirements) will fluctuate. So while the actual mortgage payment on the home is constant these could change yearly and therefore change your expected payment.

Also, if you are not putting 20% or more down on a home you may be required to make private mortgage insurance payments. This generally decreases slightly as you pay down the mortgage and not all loan programs require this (i.e., VA, MassHousing) so this is a variable cost as well.

And lastly, rates change daily and the amount of points or fees charged by lenders differs resulting in different APRs. So, this could be a variable in the actual end result payment.

To recap:

Price of Home
Interest rate on Mortgage / APR
Taxes
Insurance
PMI

Best of luck!

~ Danielle
... more
0 votes 4 answers Share Flag
Tue Mar 12, 2013
Rafael Hernandez answered:
Usually you want to contact the lender and explain the situation depending on what your issue is they may allow you to make a late payment.
0 votes 6 answers Share Flag
Tue Mar 12, 2013
Danielle O'Brien answered:
If you are the buyer, you are responsible for meeting certain deadlines - such as the mortgage commitment date. There will also be various financial documentation you will be expected to provide in a timely manner. I would discuss the entire process and your responsibilities with your current lender including important dates and turnaround times. Many times they can provide you with a list of what is to be expected so you can start gathering the documentation (tax returns, pay stubs, bank statements, etc.). ... more
0 votes 5 answers Share Flag
Wed Mar 20, 2013
Great Spaces Boston answered:
Assessed and list/sale value are different animals. Assessed values are solely for the purpose of taxation. Typically assessors use a desktop software to spit out a value based on sq feet, lot size, permits applied for, etc... It is done on the 1st of January for the upcoming fiscal year, in Boston the fiscal year runs July-June. So the assessed value you are seeing now was generated on Jan 1, 2012, over a year out of date.

Assessments do not take into account for style, layout and other "soft" characteristics that can add or subtract tremendous value on a property.
... more
0 votes 7 answers Share Flag
Wed Mar 20, 2013
Amy Mullen answered:
Good morning Sano,

I do have two options for you as I just recently assisted a buyer that experienced the same issue. Please message me and I will pass along the mortgage broker's contact info.

Amy
... more
0 votes 7 answers Share Flag
Sun Nov 24, 2013
Mathew Ames answered:
Southie has seen slow growth in sale prices since the crash, but more properties are being snatched up to new owners at a higher rate. Take a trip through town and you will certainly see positive growth in rehabs as well as new buildings. The short return is minimal but I think it is a good long term bet. ... more
0 votes 10 answers Share Flag
Tue Feb 26, 2013
Keith Jean-Pierre answered:
Dear Mrs. Curtis:

Closing costs as a buyer tend to be in the 3% - 4% range of the purchase price. A number of factors determine this but are not limited to mortgage payments, points if any, tax amount, attorney fees if any, escrow fees if any, insurance fees, survey/deed recording, etc. A good resource that I point all my clients to is a Closing Costs Calculator from Yahoo. Hopefully that will give you a better idea. Here is a link:

http://homes.yahoo.com/calculators/closing_costs.html

Good luck with your home purchase. If you are looking in Californnia, I envy you and the beautiful weather year-round!! Have fun and it was a pleasure speaking to you.
... more
0 votes 10 answers Share Flag
Tue Feb 26, 2013
Hassan Boukhris answered:
Hi,

Now is a good time. It would take some time to find the right buyer for your condo, and some time for the buyer's lender to process and approve their loan. The interest rates are still at historic low and many buyers want to buy as soon as possible.
Please let me know the terms of the lease and if your tenants are planning to move out on 8/31. Some investor buyers we work with don't mind keeping the tenants.
You would want to give the condo listing enough time on the market while you are collecting rent.
Please call or email me and I'll be happy to present an action plan specific to your situation.
... more
0 votes 13 answers Share Flag
Mon Feb 25, 2013
John J. Dean Jr. answered:
It has been a sellers market in the Greater Boston Area since last Jan. Prices are on the rise, interest rates are down and inventory is slim. It is a tough market to buy in so you better partner with the right Realtor to help with your search. Make sure they are keyed into their local market and working for you. ... more
0 votes 14 answers Share Flag
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