Boston real estate owners may end up stuck with higher interest rates because in order to refinance, they will have to buy PMI or mortgage insurance to cover a loan if they have less than 20% equity. Boston real estate owners that purchased near the peak of the housing industry or borrowed against the equity in their home may have less than 20% equity. Anyone that purchased with less than 20% equity will be unaffected as they have been paying PMI from the beginning. As a result of 80% loan limits to avoid PMI, refinanced loans may cost more monthly in comparison. Boston home owners ...
Refinancing with Less than 20% Equity
Posted by Brett DeRocker Wednesday, February 22nd, 2012
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How to Determine if You’re Ready to Buy Boston Condos
Posted by Brett DeRocker Tuesday, February 21st, 2012
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There are perks to both buying and renting in Boston, choosing which is right for you really depends on your needs and wants. To help you determine whether or not you’re ready to buy Boston apartments, First Boston Realty International has created this helpful list of benefits for buying Boston apartments and renting in Boston. If the benefits of buying in Boston are more appealing than those associated with renting, you know you’re ready to begin searching for Boston apartments for sale rather than Boston apartments rentals. Benefits to Boston Apartment Rentals If your move is temporary or if you’re unsure of ...
A New Tax Credit in Massachusetts
Posted by Brett DeRocker Monday, February 20th, 2012
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Yes, you read that right. There will a new tax credit in Massachusetts, but it serves a very specific purpose. Environmental officials in Massachusetts are hoping to boost conservation by offering residents that donate land to the state tax credits. Richard Sullivan, Energy and Environmental Affairs Secretary, recently announced that eligible land donors can get a state income tax credit equivalent to half of the donated land’s appraised value under a new conservation initiative. The land that is donated must have a value of at least $100,000 and the land must conform to state and regional long-term goals for land conservation. Of course there are limits to the ...
Quality Over Size
Posted by Brett DeRocker Wednesday, February 15th, 2012
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Smaller real estate brokerages in Massachusetts have had a rough time withstanding 3 years of difficulty as a result of the housing market. Unfortunately, as a result many smaller brokerages are being purchased by larger ones. However, many question whether or not the large-brokerage value model is really the best thing. Functioning as a small real estate agency has typically meant bearing the weight of costs for a number of different essentials such as marketing, office space, advertising, etc. Before real estate agencies were online, many required big budgets in order to remain in-demand. However, as online marketing and having a strong web presence became more ...
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