5 Reasons Buying a Home Can Wait

5 Reasons you should wait to buy a home

Today's post 5 Reasons Buying a Home Can Wait is a guest post by Charles Muotoh a real estate agent covering the Washington DC area. Wanting to buy a home is on the top of many's priority.  But, don't be so anxious that the American Dream turns into a nightmare. Charles gives some great insight into why you might want to hold off on owning a home. Buying a Home Can Wait Owning a home may still be the American dream, but if you are not financially ready, it can quickly devolve into a … Continue reading...

Is My Real Estate Agent Really Working for Me- Understanding Real Estate Agency

Understanding Real Estate Agency

When it come time to buy or sell a house, most people call a real estate agent to aid in their home sale or purchase.  Whether you are buying or selling a home, understanding real estate agency is critical.  It is first important to understand how your real estate agent is working for you.  Secondly, you can run into other agents along the way and is important you understand the relationship you have with each agent. Real Estate Agency is at the core of every real estate … Continue reading...

How Much House Can I Afford?

How much mortgage can I afford Infographic

When the thought enters your head that maybe its time to stop renting and buy your first home you are going to wonder "how much house can I afford?"  This article will cover the basics so you can get a rough idea of how much of what a bank will lend you for your first home.  At the end of the day, take the time to sit down and get a proper mortgage pre-approval letter from your lender.  There are too many variables to estimate a mortgage payment accurately without doing … Continue reading...

What is Caveat Emptor or Buyer Beware? and Why Would a Home Buyer Care?

What must a Massachusetts Home Seller disclose

Massachusetts is a state that follows an old common law rule, Caveat Emptor or translated to "let the buyer beware".  Basically, it means that the seller has almost no responsibility in disclosing material defects about the house except in two instances.  The responsibility of discovering any defects of a home falls soley on the home buyer. While a common practice around me, the seller does not have to provide a Statement of Property Condition.  If done, it is done voluntarily usually on the … Continue reading...

Win the Bidding War Against Other Home Buyers

Be the winning bidder in Multiple offers on a house

Competition is tight among home buyers.  Housing inventory is low, interest rates are low and home buyers are competing against each other for desirable homes.  It is the perfect atmosphere for the ever dreaded bidding war!  CNBC reports that over one third of all homes for sale nationwide went over asking price. Lets take Tewksbury MA.  The Tewksbury Real Estate market shows 153 properties sold in the past 6 months.  ( I removed all new construction that sold as they skewed the numbers … Continue reading...

Should I Buy or Rent My Next Place

Should I buy or Rent

Many renters are asking should I buy or rent a home right now.  As renters are looking to renew leases or seek another place to live they are starting to realize that it may be cheaper to own.  A recent study by Trulia shows that nationwide it is 36% cheaper to own nationwide. Here in Tewksbury Massachusetts and the surrounding areas renters are starting to realize that owning is probably cheaper than renting.  I did an analysis in the recent past of two identical condos in Tewksbury MA Real … Continue reading...

Maximize Your Home Search

maximize your home search

Learn to maximize your home search. Inventory on homes is very low.  Market times are down. There is a lot of competition among home buyers.  The good properties coming on the market are going in the first few days of hitting the market. If you are serious about buying a home, you need to be aware of these homes immediately and be scheduling a showing the first day or two.  Here are a few tips to maximize your home search. Sign up to receive daily email alerts.  Your local REALTOR will … Continue reading...

What you need to know about Zillow, Trulia, etc…

So I received a call from a customer of mine all excited about a condo he wanted to see.  Its a great condo. No problem there.  Went to look at it.  He loved it.   Problem.   Zillow reported a condo fee of $48 a month.  In actuality it is almost $600 a month, putting it just outside what my customer can afford.  So what do you need about Zillow, Trulia, etc.... ? This week I have received 5 phone calls from potential buyers or customers that I am working with on the fringe.  They were all … Continue reading...

Escalation Clause- Win the Bidding War

Escalation clause in real estate

An escalation clause can be a great way to structure an offer to be the winning bid in a red hot market.  When you know buyer  competition will be high on a home, it it also means you may be competing with multiple offers . Here in the Massachusetts Real Estate market we are seeing certain communities or properties that will most likely be in a bidding war with multiple offers.  It can be very frustrating as a buyer. What is an escalation clause? An escalation clause is you offer a certain … Continue reading...

You Don’t Know What you Don’t Know!

You-dont-know-what-you-dont-know

7 Home Buying Mistakes to make, because you don't know what you don't know!! It amazes me how many home buyers are blindly running around with little or no guidance. This article will discuss 7 Home Buying Mistakes. I have been doing real estate full time for 13 years.  It took me 5 years before I really felt comfortable with what I was doing.  I spend 50+ hours a week immersed in the business of real estate and have been involved in hundreds and hundreds of real estate transactions.  Let me … Continue reading...