What to Look For In a Boston Real Estate Agent!

When selling your Boston home or buying a Boston home, you want to know that you have an experienced, highly credible Boston real estate agent with you throughout the process. You want an agent who represents a successful real estate firm, and one with excellent testimonials and web presence.

I am proud to announce to you today that Keller Williams Realty has been named the largest real estate franchise in North America! It is home to more than 90,000 associates around the world, with 12,000 gained in the past year. This is partly due to the business model of the company and the success of its real estate agents.

Keller Williams Realty has been around for 30 years and continues to add innovative services for real estate customers. They are growing in size and success, and I am proud to represent them as a Boston real estate agent!

Knowing that I stand behind such a prominent, growing company is one reason why you should consider me as your Boston real estate agent when buying a Boston home or selling a Boston home. Another reason is my list of testimonials.

I have been a resident of Boston, MA for 30 years, I have over three decades of experience in real estate, I have award-winning sales achievements and I have been nationally recognized for superior customer service. While this all plays a role in who you choose to represent you as your Boston real estate agent, testimonials remain number one.

Testimonials are reviews coming straight from the mouths of past homebuyers or home sellers just like you. Who better to put your trust in than people who were once in your shoes?

My web presence is also extensive, which is how you know that I’m a prominent Boston real estate agent. Perhaps that is how you found me! My interactive website is loaded with home-buying and home-selling tips, listings, information about Boston, Boston events, Boston schools and relocating to Boston. You can look up closed transactions, and you can read about my home-buying advantage.

I am also active on my Facebook page, Twitter page and LinkedIn page. My blog is updated weekly. You have so many ways to get a hold of me, to learn more about me, and to check out my latest real estate tips, advice, news and market reports.

When you’re ready to buy a Boston home or sell your Boston home, contact me! As a Boston real estate agent, representing the largest real estate firm in North America, you know you’re getting experience, honesty and success when working with me.

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com
Patti Fine Real Estate
Greater Boston Area Homes
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Latest Boston Real Estate Market News!

Lots of new real estate reports have been released at the national and local level. As your Boston real estate agent, I’d like to keep you informed as much as possible about what is going on! If you’re gearing up to sell your Boston home, or to buy a Boston home, you should know what’s happening in the Boston real estate market.

The Case-Shiller Index released its latest report about home prices. Nationally, home prices jumped 12.2 percent in top metro markets from April to May. That’s a huge jump! Although, it’s important to know that this number includes the re-sale of foreclosures, which throws the number off a bit.

In Boston, MA, home prices rose by a modest 1.8 percent in May over April, according to Boston.com. This is a much better number to look at, considering it is based off local statistics only. Historically, home prices are still relatively low, so it’s still a good time to buy a Boston home.

It’s good news for Boston home sellers, too. While home prices only rose 1.8 percent month-to-month, prices are still up 7.5 percent from a year ago! Nationally, the median existing-home price rose 13.5 percent in June, compared to June 2012, according to the National Association of Realtors. So the Boston real estate market is doing quite well in its house recovery.

Another sign of a strong, permanent housing recovery is that foreclosure inventory and distressed sales have decreased to their lowest levels since tracking began in October 2008. All three housing measure index components rose as well. Home sale conditions rose five points, home sale expectations increased seven points, and traffic of prospective homebuyers rose five points.

What does all this mean? It means that housing sentiment is high! According to DS News, eight in 10 Americans believe that owning a home is a good financial decision. The number of renters who want to own is up, and more than half of renters say owning a home is a top priority, according to a NAR report.

What does all this mean for you? As a Boston home seller:

• Home prices and home values are rising, meaning you can sell your home for a great price!
• Buyers are eager, meaning your home is likely to sell very fast.
• Because mortgage rates and prices are rising, if you want to move up in the Boston real estate market, now is the time to do it.

What it means as a Boston homebuyer:

• Home prices are rising, but they’re still low by historical standards.
• Mortgage rates are rising too, so the sooner you buy a Boston home, the more you’ll save.
• Homebuyer sentiment is up and more renters are entering the market. Beat the competition!

If you have any questions about all this, contact me, your Boston real estate agent. I’d be happy to help you out!

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com
Patti Fine Real Estate
Greater Boston Area Homes
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Get the Best Mortgage Rate as a Boston, MA Homebuyer!

As your Boston real estate agent, it’s my job to keep you updated on the most current and significant news in real estate. Lately, news has been focused on rising mortgage rates in the past couple of weeks. Interest rates for a 30-year mortgage rose from 3.56 percent to 4.29 percent and then to 4.51 percent.

So, what does this mean for you as a Boston homebuyer? It means that the sooner you buy a Boston home, the less you’ll pay in interest and in your monthly mortgage payments! Better Homes and Gardens Real Estate shared an infographic that shows you just how much more you’ll be paying per month, depending on the price of the house and the mortgage rate.

As you can see, the price quickly increases each month as the mortgage rate rises. No one knows for sure how fast or how high they will continue to rise, but KCM Crew estimated that they’ll level off between 4 and 5 percent. Although, other experts have predicted they’ll rise up to 6.5 percent.

 

Now that you know this, there is still good news about buying a Boston home right now! Here is what The Fiscal Times shared recently:

• As mortgage rates rise, lenders might ease up on their mortgage standards, giving you more of a chance to obtain a mortgage loan. 

• Inventory is starting to rise, so you have more options in the Boston real estate market.

• Investors are starting to leave the market, also giving you more options. 

• Buying is still cheaper than renting. 

• Mortgage rates are still low by historical standards. The average interest rate for a 30-year mortgage was once 8 percent! Anything below 5 percent was considered a gift.

When applying for a mortgage, what can you do to ensure the lowest possible rate? Here’s what I would recommend:

• Improve your credit score. You can do this by paying down debt, paying bills on time, not opening new lines of credit and paying off credit cards, but leaving them open. 

• Increase your down payment. Consider getting another job or moving back home or in with a roommate to save money. Make lifestyle changes, like brewing coffee at home and brown-bagging your lunches!

• Consider your options with loan lengths. Shorter term loans, such as 15 or 20-year loans, have lower interest rates than 30-year mortgages.

If you have questions or you’re ready to buy a Boston home, contact me, your Boston real estate agent! I am eager to help you achieve this exciting milestone!

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com
Patti Fine Real Estate
Greater Boston Area Homes
Search Greater Boston Area Homes

Tips for Buying A Boston Home In a Tight Market

It’s no secret that the Boston real estate market is tight for Boston homebuyers right now. Home prices are rising and many Boston home sellers are holding out. At the same time, buyer demand is high because mortgage rates are still near historic rates. 

How can you ensure a successful home purchase in a market with limited availability? Here, I’ve laid out a few rules to follow. In any case, contact me, your Boston real estate agent. This is not a time to be going it alone! 

1.  Find out how much you can afford in a home. This step is vital, and you should do it before you even start your home search. Look over your revenue and expenses and find out how much money you have to work with. 

·         How much do you have saved up for a down payment?

·         How much income do you have to work with monthly for mortgage payments?

·         How much will you have left for your homeowner’s insurance and property tax expenses?

·         How much will you have left for electric, water and energy bills?

The cost of a home is about more than your initial payment and your monthly mortgage. Also, if something goes wrong with the house, you need to pay for it, such as a new water heater, furnace, lawn mower or roof repairs. You really need to have a good idea of how much you have to work with and what you can really afford.

2.  Apply for a mortgage loan. Getting pre-approved for a mortgage is one of the best first steps you can take as a Boston homebuyer. When Boston home sellers receive multiple offers, it’s common for them to not even consider a buyer who isn’t pre-approved. Plus, this will help you determine what your price range is, so we can narrow your search.

3.  Stay current and knowledgeable about the Boston real estate market. It’s important to know what homes in your price range are being listed for and what they’re selling for, and how fast. This will help you determine how fast you need to make an offer and a ballpark figure of how much. Of course, having a Boston real estate agent will help a lot with this information! 

4.  Remain patient. There is a good chance that once you begin your home search, you might find a home you love that you need to bid for. You might lose. Don’t become discouraged. In a seller’s market, it might take some time for you to both find a home you love and have your offer accepted by the seller. As your Boston real estate agent, I’m here to help!

5.  Remember what you can afford. It’d be easy to get agitated and make an offer that is out of your league, or to purchase a house that needs a lot of repairs. It’s important to stick with what you need, what you want and what you can afford. This will be your home for many years to come, you have to love it and not regret it down the road!

As your Boston real estate agent, I am here for you every step of the way, as a book of knowledge and experience, as an advocate, and as a support system. Contact me with questions or to get started in the home-buying process!

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com
Patti Fine Real Estate
Greater Boston Area Homes
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The #1 Reason to Buy a Boston Home in 2013!

Happy New Year! How did you ring in 2013? Were you celebrating inside your Boston home, at a local establishment or at First Night Boston? I hope you enjoyed yourself and that you came up with a fantastic New Year’s resolution.

If you’re a renter in the Boston, MA area, as a Boston real estate agent, I have the perfect resolution for you. Buy a Boston home this year. Why? It’s the better investment.

While home prices are quickly rising in the Boston, MA area, rental prices are rising even faster! Boston.com reported that asking prices rose 4 percent from December 2011 to December 2012. In comparison, rental prices rose 6.4 percent! Specifically, a one-bedroom median rent in 2009 was just under $1,500 and is now $2,000. A two-bedroom rent was $1,985 in 2009 and is now $2,500.

The math speaks for itself. As a renter, you should buy a Boston home as soon as you can! With home prices and home sales predicted to continue increasing this year, houses will cost more the longer you wait, and the options on the market might decrease. But mortgage rates are still historically low right now, which really helps to make owning a home affordable. 

How can you prepare to buy a Boston home this year? Here are some steps to take. When you’re ready, contact me, your Boston real estate agent! I’ll be looking forward to your call!

1. Schedule a meeting with a lender to find out what your credit score is and how much of a loan you can receive, based on your credit score, credit history, employment, residence, savings and numerous other factors. This first step is a must, because only then will you know what your home affordability is and what type of homes and price ranges to look at. Plus, home sellers want a buyer that is already pre-approved. It shows that you are serious about buying.
2. If you’re credit score is less than ideal, do all you can to bump it up. Use credit cards regularly, but pay them off as often as possible. If your income level is on the low side, find a second job to increase what you have set aside for a down payment. Cut back on dining out, brew your own coffee at home, host game nights and do whatever you can to save. Every little bit helps!
3. Once you’re ready to start looking, head to my website to browse the Boston real estate market. Contact me, so I can find you homes that are in your price range and in your ideal location. We can visit showings and open houses, negotiate prices, schedule inspections and come up with a closing agreement. As your Boston real estate agent, I’ll be with you every step of the way!

Patti Fine 

Phone: 617-642-7585

Email: pf@pattifine.com

Patti Fine Real Estate

Greater Boston Area Homes

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