Boston Area Realtor - Robin Brodsky

A Home for the Holidays?!

robinbrodsky — Mon, 05 Dec 2011 20:56:04 +0000

Each year around the holidays finds clients asking the same question … “should I take my home off the market for the holidays?” There are arguments to be made for both sides of the issue. Ultimately, the answer is what is most comfortable for your family and your situation. From a real estate perspective, there are many compelling reasons to continue marketing your home through the holidays.

From November 15 – December 31, 2010, 6,845 homes went under agreement in Massachusetts.
The winter has a fewer number of homes on the market and your home would have much less competition from other homes than in the busy spring market.
Your home may receive fewer showings, but buyers are typically more serious and motivated.
Prices are based on economics, not the time of year. There is no guarantee that selling in the spring will yield a higher sales price for your home.
Take advantage to “deck the halls.” Buyers love the sights and smells of the holidays!
The relative down time of the holidays is when most corporate relocation occurs.
Job transferees often take advantage of holiday vacation time to house hunt.

The holidays are a time when people are most busy and in our area, the weather is often cold and snowy. You know that buyers are motivated and have more immediate home buying needs if they are braving the elements and the clock to search for a home!

Newton Market Data – October 2011

robinbrodsky — Wed, 23 Nov 2011 22:30:15 +0000

October was another strong month for home sales in Newton. With a decrease in inventory, both sales and prices increased because there were a fewer number of homes available.

Condominium sales and prices were also up, while inventory was down.

Bottom Line: Sellers – with fewer homes on the market and prices and sales up, this is a great time to sell!

October Newton Market Data

Waltham’s Best “Hidden Jewel” – Pizzi Farms!

robinbrodsky — Sat, 19 Nov 2011 05:18:51 +0000

I had the chance to catch up with Rick Pizzi of Pizzi Farms. There is much more to offer here than a big ice cream cone in the summer and amazing sandwiches and pastries!

Newton Market Data – September 2011

robinbrodsky — Sat, 12 Nov 2011 20:34:36 +0000

September was a strong month for single family home sales in Newton. Sales volume continues to remain high while prices only dropped a slight 1.3% from this time last year. Price are still up 2.1% for the year! Both inventory and days on market were much less, with faster sales creating competition in the market.

Condominium sales were also strong with increases in sales volume and median price. There was an unbelievable increase in median sales price of 38.8%! Inventory, days on market and new listings were all way down, indicating strong sales heading into the Fall market.

Bottom line: The Newton market is healthy and strong for both buyers and sellers.

Newton Market Data – September 2011

Understanding Seller’s Closing Costs

robinbrodsky — Thu, 29 Sep 2011 02:48:48 +0000

Sellers often have questions about the fees that they are responsible for paying from the sale of their property. Below is a list of some of the expenses that sellers can expect to pay at closing:

Seller’s Closing Costs

List of Items	Description
Broker’s Commission	The seller typically pays the real estate commission.
Discharge Tracking	Typically ranges from $75 – $125 per discharge.
Discharge Recording Fee	$75 per mortgage discharge.
Deed Stamps	Calculated at $4.56 per $1,000.00 of the purchase price. (This may vary depending on the county)
Miscellaneous Recording Fees	$75 per document (Ex: A condo association may require $75 for the 6D Certificate)
Final Water/Sewer Meter Readings	Typically for single family houses only.
Legal Fees	Attorney fee to the seller’s attorney ranges from $500 – $1,500.
Payoff Line	Payoff of the seller’s existing mortages.

Sellers are also responsible for obtaining a Smoke Detector Certificate for the property. Fees for this vary by town and can be obtained from the local Fire Department.

There’s No Place Like Home …

robinbrodsky — Tue, 23 Aug 2011 23:12:03 +0000

There’s no place like home – a place to relax and unwind after a long day. That is, unless you own a condominium and have neighbors from hell! Sure, having your own home can be very rewarding, but what can you do to prevent finding yourself living like this?

You’ve just made dinner and settled in to watch TV in your new condo. You’re interrupted by the blaring of a TV from the unit below you. You try to ignore it, but after a few hours of listening to machine guns blaring from a Military Channel marathon of WWII, you’re ready to go bananas! The next night, you’re listening to the same neighbors fighting their weekly fight about money and hurling dishes at the walls. Over the next months, you’re treated to every possible sound that can come from your neighbor’s bodies. If this isn’t enough annoyance, you find out through your condo association that these same neighbors have refused to pay their last 3 months of condo fees. (Now those fights about money make sense …) Their default in fees and subsequent foreclosure of their unit forces all unit owners to pay higher fees. As the largest unit owner, you bear the highest cost. As you look to sell your unit and get away from this mess, you wonder how you could’ve prevented it …

This is a true story and is only a small glimpse into some of the issues that one homeowner faced … Here are some things that you can do BEFORE buying a condo that could help prevent a situation like this!

Remember Who’s On Your Side

Don’t rely on real estate agents – they are not usually able to give specific information about associations. They will tell you as much as they can and any disclosures.
Hire a lawyer! Have your lawyer review all condominium documents.

Read The Minutes

Associations should keep copies of minutes of their meetings.
Get copies of the minutes from past board meetings.
Meeting minutes will help give an idea of the problems the association faces and may help identify any potential troublemakers in the building!

Meet The Neighbors

Try to meet your potential neighbors.
Ask the neighbors about the rules of the association including parking, pets, noise, common area use and most importantly how neighbors divide maintenance and association tasks.

Follow The Money

Request copies of the association budget for the past 2 years.
Ask if any special assessments or lawsuits are pending.
Ask if any unit owners are delinquent in paying their fees.

Know Where They Stand

Find out how much voting power and ownership your unit will have in the association.
If one unit owner has more than 50% ownership and voting power, your association vote may be insignificant which is NOT ideal for you.

162 Myrtle Street #1 Waltham, MA

robinbrodsky — Thu, 05 May 2011 02:09:10 +0000

New to Market! A recently renovated single family attached/townhouse unit located at 162 Myrtle Street #1 in Waltham, MA. Come take a look at this fantastic unit!

Price:
Address:
City:
State:
ZIP:

MLS #:
Bedrooms:
Bathrooms:
Days on Market:
Side Represented:

Additional Features:

217 Walnut Street Wellesley, MA

robinbrodsky — Thu, 10 Feb 2011 20:36:54 +0000

New to market! A charming single family home available at 217 Walnut Street in Wellesley, MA

Understanding Buyer’s Closing Costs

robinbrodsky — Wed, 19 Jan 2011 23:52:03 +0000

Buyers often ask questions about the costs of buying a home. Below is a list and description of the general costs for Massachusetts home buyers.

**Buyer’s Closing Costs**
List of items	Description
Appraisal Fees	Appraisal fees are approximately $350.00.
Lender’s Title Insurance	Costs $2.50 per every $1,000.00 borrowed. It protects a lender’s financial interest in real property against loss due to title defects, liens or other matters.
MA Real Estate Property Tax Escrows	3-6 months worth of tax and insurance escrows are typically required by the lender, depending on several variables. This 3-6 months of tax funds are held with the lender who will pay the taxes on your behalf.
Homeowner’s Insurance	The lender will require the first year’s insurance premium paid in full prior to closing. Typically the lender will also require 3 months of insurance premiums to be held in escrow, also paid at closing.
Lender’s Fees	These can consist of several items and are based upon the buyer’s down payment, credit score, type of loan requested, work history, etc. Lender’s fees could consist of loan points, document preparation, underwriting and processing, etc. They are usually prorated with the loan amount.
Title Company or Attorney Closing Costs	Typically between $500 – $800. This fee covers title search and closing document preparation.
Deed Recording Fees	$125 – $200.
Home Inspection	$350 – $850 depending on several variables such as property type, septic, water, radon, etc.

The Buyer’s Agent/Agency fee is usually paid by the Seller from the proceeds of the sale. Occasionally, the Buyer is responsible to cover a portion of the Buyer’s Agency fee. Sometimes, this fee can be negotiable and can range from 0.25% to 3% of the purchase price.

Buyer Agents Help When Purchasing a Home!

robinbrodsky — Tue, 31 Aug 2010 04:40:40 +0000

Once upon a time, real estate transactions were handled exclusively by a seller’s agent (also known as the listing agent). Recently, the real estate industry has changed and a “new” type of agent has emerged – the Buyer’s Agent. A Buyer’s Agent is an agent that works exclusively for and protects the best interest of their client – the homebuyer.

Many homebuyers have a misconception that working with the listing agent will “get them a deal.” It is important to understand that a listing agent represents a seller in a real estate transaction. Legally, the agent has a fiduciary duty to protect the seller’s interests – and only the seller’s interests. So, the only “deal” is that a buyer gets when working with a list agent is that they have no one committed to working for them! It is becoming more popular for buyers to select an agent to specifically represent their needs in the transaction.

All real estate agents can arrange property showings, assist with financing and manage the paperwork involved with the transaction. However, if a buyer forgoes using a Buyer’s Agent and works directly with a listing agent, the list agent:

cannot legally negotiate a purchase price in a buyer’s favor;
cannot disclose the history of the property or the reasons for selling; and
are not required to keep the information that the buyer’s share with them confidential.

However, Buyer’s Agents can do all of the following:

work to find properties that match the buyer’s needs;
e-mail daily listings of properties and arrange property showings;
attend open houses with clients;
negotiate the home price based on the buyer’s best interests;
disclose all of the information that they find out about the property; and
keep the buyer’s information confidential.

A Buyer’s Agency Agreement is an exclusive relationship between a buyer and agent for a real estate transaction. This agreement is a commitment from BOTH parties – an agent commits to represent a buyer AND the buyer commits to the agent and to not use another agent in purchasing a property.