Buying a House in the New Economy - Advice for Buyers

by Brandon Cornett:Jean Chatzky, the financial editor for the Today Show, was on TV recently to talk to consumers about their credit scores. She confirmed something I already knew, but backed it up with some eye-opening numbers.Specifically, Jean was explaining the credit score you need to qualify for the best mortgage rates when buying a home. Here is how she broke it down:* May 2006 - Borrowers needed a credit score of 620 to get the best rates.* May 2008 - Borrowers needed a 760 or above to get the best rates.That’s an increase of 140 points, which is a significant difference when you consider that the overall credit range only goes from 300 - 850.Recent Economic ChangesCredit has always been important when buying a house and applying for a mortgage loan, but today it’s more important than ever. To fully understand the reasons for this, we need to look back over recent economic changes. Read more

Home Inspection Tips for Home Buyers

by Brandon Cornett:The home inspection is an essential part of the home buying process. In this article we will talk more about the home inspection, how it works, how to find an inspector, and related topics.

What Does a Home Inspector Do?

In short, an inspector checks the safety and functionality of your potential home. He will focus primarily on the structural and mechanical aspects of the home (as opposed to cosmetic or aesthetic items).It’s a good idea to get a home inspection as soon as possible after the seller accepts your offer. This will help you determine if there are any major problems with the property — and sooner is better than later. You should also make the purchase agreement / contract contingent upon the home inspection. That way, if the inspection uncovers a major flaw that you’re unwilling to accept, you have a legal way out of the contract. Read more

How to create curb appeal before selling

by Brandon Cornett:
You hear the word tossed around a lot in real estate circles. You hear it mentioned on home-selling programs on HGTV and other networks. But what exactly is “curb appeal,” and why should you care about it when selling your home?

In this article, we will start by answering this fundamental question. Then we will take a closer look at the elements of curb appeal, and how you can use them to increase your chances for a quick sale! But first, a definition. Read more

Boston News

Kimberly Blanton of the Boston Globe is reporting that the Longwood Towers Condominium  project in Brookline has been seized by its Mortgagee. See article. If not familiar, Longwood Towers is the tudor style three tower complex on Longwood Aveneue adjacent to the Longwood medical area.  it’s a large complex with 277 units that we’re originally apartments. I have always loved the architecture of these buildings and thought it would be a great condo converson given it’s prime location and appeal. Unfortunately the project didn’t get under way until the very height of the market and by the time listings made it to market it was already in a decline with the project unfinished. The mortgagee says they plan to finish the project and I hope they do.

Longwood Towers

Kimberly Blanton of the Boston Globe is reporting that the Longwood Towers Condominium project in Brookline has been seized by its Mortgagee. See article. If not familiar, Longwood Towers is the tudor style three tower complex on Longwood Aveneue adjacent to the Longwood medical area. it’s a large complex with 277 units that we’re originally apartments. I have always loved the architecture of these buildings and thought it would be a great condo converson given it’s prime location and appeal. Unfortunately the project didn’t get under way until the very height of the market and by the time listings made it to market it was already in a decline with the project unfinished. The mortgagee says it intends to bid on the property at its own aution and they plan to complete the luxury conversion. I hope they do.

MA News

News on Massachusetts’ neighborhoods, MA restaurant openings, new MA developments, new listings in Massachussetts, avergage MA sales prices, record sales prices in Massachusetts, Newton news, Needham information, Andover updates, Melrose market data, Winchester market analysis, Boston planning board rulings, Boston redevelopment changes. Coming soon!