Massachusetts Home Buyer Guide, First-time Homebuyer Tips, Advice MA

HomeReady Mortgage is a Low Down Payment Option for Homebuyers

Dec 1, 2016 12:36:37 PM

Massachusetts first-time homebuyers year after year cite saving for a down payment as the biggest obstacle to buying a home; however, many potential homebuyers mistakenly believe they need to save enough money for a 20 percent down payment.

Topics: Loan Programs, Mortgages 101, Condominium, Home-buying Tips, Mortgage Rates & News

Is Freddie Mac's Home Possible Advantage Mortgage For You?

Aug 26, 2016 9:30:00 AM

Despite what many potential homebuyers are told by friends, family or acquaintances or learn from websites and other media, you do not need a 20 percent down payment to purchase a home.

Topics: Mortgage Rates & News, Mortgages 101, Home-buying Tips, Loan Programs, Condominium

What is a Mortgage Interest Rate Lock?

Aug 22, 2016 2:18:13 PM

For most Massachusetts homebuyers researching lenders and home loan programs, the mortgage interest rate is one of the most important factors in deciding which lender and/or loan program to use to finance the purchase of a home.

Topics: Mortgages 101, Home-buying Tips, Condominium

Massachusetts Condo Inventory Declines 60 Straight Months

Nov 29, 2015 8:13:21 AM

Looking for a condominium in Massachusetts? You're going to have to be ready when new listings in your desired location and price range hit the market.

Topics: Real Estate Market, Condominium

What is a Dual Agent in Real Estate?

Nov 16, 2015 8:48:58 PM

Massachusetts and New Hampshire Allow Dual Agency

Dual Agency is when a real estate agent represents both the seller and the homebuyer in the same real estate transaction. In such a case, that real estate professional is known as a dual agent.

Topics: Home-buying Tips, Real Estate Misc., Real Estate Law, Condominium

A Median Price of $1.8 million? Listen to the Real Estate Report

Nov 4, 2015 12:00:00 PM

The following audio [11:41] is about the latest Massachusetts real estate market data through September 2015. The data was compiled by both The Warren Group and the Massachusetts Association of Realtors and released October 27, 2015. Rich Rosa, co-founder and co-owner of Buyers Brokers Only, LLC, discussed the Greater Boston Area real estate market on Boston Herald Radio's BizSmart show on October 29, 2015.

Topics: Real Estate Market, Condominium, Massachusetts Association of Realtors, The Warren Group

Listen to the Latest Massachusetts Real Estate Market Report

Sep 30, 2015 10:30:54 PM

The following audio is about the latest Massachusetts real estate market data through August 2015 released by the Massachusetts Association of Realtors on September 29, 2015. Rich Rosa, co-founder and co-owner of Buyers Brokers Only, LLC, discussed the Greater Boston Area real estate market on Boston Herald Radio the same day the data was released.

Topics: Real Estate Market, Condominium, Massachusetts Association of Realtors, The Warren Group

What Does It Mean When a Seller Pays Closing Costs in Massachusetts?

Mar 18, 2015 6:22:00 AM

For many Massachusetts first-time home buyers – and for move-up buyers that lost equity in their homes during the recent real estate downturn – the biggest obstacle to purchasing a home is saving enough money for the down payment and closing costs.

Topics: Home-buying Tips, Mortgages 101, Real Estate Misc., Condominium

Are Millennials Ditching the City?

Jan 26, 2015 6:03:00 AM

The prevailing wisdom in the real estate industry has been that Millennials would prefer living in the city longer and iving in smaller, urban spaces than previous generations; however, a new study has found Millennials, as a whole, just want a big place in the suburbs like everyone else.

Topics: Real Estate Market, Condominium, Real Estate Misc., New Construction

Massachusetts Home Buyers, Open Houses and Too Much Information

Sep 2, 2014 6:13:00 PM

At an open house recently in Boston for a Back Bay condo, a potential home buyer could be easily overheard providing the agent representing the seller with all kinds of personal information, none of which would have helped her get a good deal, but all of which may have helped a seller during negotiations.

Of course, the potential buyer didn't have any buyer agent, let alone an exclusive buyer agent, with her. She was there with someone who didn't appear to understand the conversation taking place between potential home buyer and seller's agent, not to mention anything about the home-buying process in Massachusetts.

Topics: Home-buying Tips, Condominium

Loan Commitment Date Critical For Massachusetts Home Buyers

Jul 31, 2014 5:33:00 PM

Massachusetts home buyers need to thoroughly understand the importance of the loan commitment date when purchasing a home and how failing to do so may result in the loss of their deposits.

The failure of a home buyer to receive a clean loan commitment letter, extend the loan commitment deadline or to terminate the contract with the seller before the loan commitment deadline passes puts him or her in jeopardy of losing deposits made at the time the offer to purchase and purchase and sale agreement were signed. For many home buyers, these deposits total 5 percent of the purchase price of the home they intend to purchase.

Topics: Home-buying Tips, Mortgages 101, Real Estate Law, Condominium

Massachusetts Home Sales Down 5.9%, Home Prices Up 7.3% February 2014

Mar 26, 2014 11:34:00 AM

Massachusetts single-family home sales declined 5.9 percent in February compared to February 2013, the Massachusetts Association of Realtors (MAR) reported March 25, 2014, citing a lack of inventory as the cause of the slowdown in home sales.

On the other hand, the lack of inventory has put pressure on home prices. The median price for single-family homes sold in February was $294,950, an increase of 7.3 percent from $275,000 in February 2013. February marked the 17th straight monthly year-over-year increase in median price in the Bay State. On a month-to-month basis, February's median price declined 7.8 percent from $320,000 in January 2014.

Massachusetts median home prices increased 9.2 percent in 2013, much more in some sought-after city and towns, but it appears price growth may be slowing in 2014, as higher interest rates and home prices have lessened affordability.

Topics: Massachusetts Association of Realtors, Real Estate Market, Massachusetts Home Prices, Condominium