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Nov 21, 2016 1:32:33 PM
Despite increasing home prices in most parts of the United States and the burden of student loan debt, first-time homebuyers nationwide made up 35 percent of the home-buying population, according to a data compiled by the National Association of Realtors (NAR) for its 2016 homebuyers and sellers profile.
Nov 16, 2016 8:58:00 AM
Massachusetts first-time home buyers sometimes feel like they are listening to a foreign language when learning about the many lending terms related to a mortgage loan. There are many and several sound similar. The following are 15 loan terms first-time home buyers should definitely know.
Topics: Home-buying Tips, Mortgages 101, Loan Programs, Real Estate Misc.
Nov 10, 2016 8:45:00 AM
One of the costs Massachusetts homebuyers will incur during the home-buying process is homeowners insurance, which is often referred to as hazard insurance. Although you might be focused on a multitude of other costs associated with purchasing a home, homeowners insurance is vitally important to protect you from damage to or the total loss of your home.
Topics: Home-buying Tips, Real Estate Misc.
Mar 4, 2016 10:00:00 AM
When you buy a single-family home or condominium in Massachusetts your mortgage lender will want to know whether the home you are buying is worth the amount of money you have agreed to pay the seller.
Topics: Home-buying Tips, Mortgages 101, Real Estate Misc.
Feb 25, 2016 7:03:34 AM
A real estate appraisal, sometimes referred to as a home appraisal, is an estimate of a property’s value. Property value is based on such factors as location, amenities, structural condition, square footage, number or bedrooms, number of bathrooms and recent sales of similar nearby properties.
Topics: Home-buying Tips, Mortgages 101, Real Estate Misc.
Feb 10, 2016 6:52:55 AM
Massachusetts first-time homebuyers didn't let increasing home prices and a lack of inventory deter their participation in the real estate market. Massachusetts first-time home buyers made up 41 percent of the total home-buying population in 2015, an increase from 39 percent in 2014, according to the 2015 Massachusetts Profile of Home Buyers & Sellers.
Topics: Real Estate Market, Massachusetts Association of Realtors, Real Estate Misc., National Association of Realtors
Jan 20, 2016 8:56:43 AM
Massachusetts homebuyers, especially in the Greater Boston area, have seen real estate inventory decline for several years, and some real estate professionals believe rising mortgage interest rates may exacerbate the situation.
Topics: Real Estate Market, Real Estate Misc., Mortgage Rates & News
Dec 31, 2015 8:50:20 PM
If Boston renters needed one more reason to make buying a home their New Year's resolution, landlord's happily provided it. Boston area rents jumped 7 percent to an average $2,245 in November compared to November 2014, the Boston Business Journal reported December 31, 2015. Zillow, a real estate data company, revealed the rental information in a new report on December 30, 2015.
Topics: Real Estate Market, Real Estate Misc.
Dec 16, 2015 1:39:11 PM
MassHousing launched Operation Welcome Home last month, a new conventional loan product for eligible Veterans that combines a traditional 97 percent loan-to-value first mortgage with a zero-interest second mortgage of up to 3 percent to create a 100 percent financing product that offers essentially the same attributes of a traditional VA loan.
Topics: Mortgages 101, Real Estate Misc., Mortgage Rates & News
Dec 10, 2015 8:40:03 AM
The United States Department of Housing and Urban Development (HUD) recently rolled out a new program designed to revitalize certain targeted geographic areas. Through HUD’s Good Neighbor Next Door program, certain Massachusetts homebuyers can purchase a HUD-owned property for a 50 percent discount on the list price of the home.
Topics: Foreclosure News, Home-buying Tips, Real Estate Misc.
Nov 18, 2015 8:23:39 AM
Although entirely different and unrelated parts of the home-buying process in Massachusetts, homebuyers sometimes confuse a home appraisal and a home inspection, and some would-be first-time homebuyers even think an inspection and appraisal are the same things.
Topics: Home-buying Tips, Real Estate Misc.
Nov 16, 2015 8:48:58 PM
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, Condominium, Real Estate Misc., Real Estate Law
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