Archive for the 'real estate for sale in ma' category

If you've been on the fence about buying a home, here's some news to consider.

The National Association of REALTORS® has just reported the news that the Federal Housing Authority (FHA) is set to increase fees on FHA loans significantly, effective April 1st.  From the article:

The agency is raising its fees in an effort to try to recoup some of its depleted reserves*, which suffered from the rising number of home owners who defaulted on their mortgages. The agency also says it’s raising fees to try to encourage the return of more private capital to the market. 

FHA loans allow for smaller down payments, as low as 3.5 percent compared to traditional loans, and they often have less stringent credit requirements, which have made them soar in popularity in recent years. (The agency insures loans but doesn’t issue them.) About 40 percent of all new mortgages for home purchases in 2010 were FHA-backed mortgages. 

In particular, FHA will increase two fees that borrowers pay. Starting April 1, it will increase its annual mortgage insurance premium for loans under $625,500,  bringing the total cost from 1.15 percent of the loan amount to 1.25 percent. Starting June 1, larger loan premiums will see an increase of 0.35 percent of a percentage point, bringing the total premium costs up to 1.5 percent of the loan amount, The New York Times reports. 

FHA also announced it will raise a fee for the upfront mortgage premium by 0.75 of a percentage point, which will now total 1.75 percent of the loan amount.

So what does this mean for a typical borrower?  According to The New York Times:

... a borrower with a 3.5 percent down payment with a mortgage of $193,000 can expect to pay an upfront mortgage premium alone of $3,377, compared to the prior $1,930. That can be rolled into the mortgage.

From the example, it's plain to see that these rate hikes will have an impact on how much home you can afford.  But if you secure a mortgage before April 1st, you can avoid these new fees (and save yourself some money).

In addition, these rate hikes will also apply to anyone with a current FHA loan who refinances.  So if you've been considering refinancing, now would also be a good time, before these rate increases go into effect.

Remember, you can search all MA homes for sale right here from my site.  Registration is free, and you are never obligated to buy a home.  And of course, you can take advantage of my Exclusive Buyer Guarantee and save AT LEAST $10,000 on any home you purchase through me.

I'll be holding an Open House at 25 Rolling Lane in Wayland on Sunday, January 15th, from 1:00 pm to 3:00 pm.  Come by and check out this beautiful home, located on an extremely desirable cul-de-sac.

Click to view other Wayland MA Homes For Sale.  Or, see all the Wayland MA Condos For Sale.

And if you're thinking of selling your Wayland home, get a Wayland MA Market Analysis.  Your home could be worth more than you think.

As 2011 draws to a close, I want to wish my friends, family, and real estate clients a very happy and prosperous New Year.  For me, 2011 was a transformative year, a year of changes to many aspects of my business and how I will do business going into 2012.  Our total sales were up, and we are carrying some nice property listings into the new year, and picking up three new ones in January (so far).

Of course, on a personal level, the birth of our third child (on July 4th no less!) was the high water mark of 2011.  Adam Robert has brought much joy to our family, and of course to his older siblings, Faith Gloria and James Christopher.  My wife Jenn and I head into 2012 excited about what the new year will bring for our little family.

As 2012 begins, I look forward to helping you with your real estate needs.  Look around, you will find some good resources to help you, whether buying a home in MA or selling a home in MA.  Here are a few links to get you started:

FREE Resources For MA Home Buyers

FREE Resources For MA Home Sellers

BUYERS - Save AT LEAST $10,000 On Your Home Purchase

We'll also be rolling out an exciting new marketing tool in mid-January for our buyer clients and seller clients, something I'm very excited about.

The new year promises to be an exciting one, a very important election only being one highlight, but whatever else happens, one thing is sure:  real estate buyers will still need to buy homes, and real estate sellers will still need to sell homes.  And we'll be here to help as many people as we can to achieve their real estate dreams.

So, my sincere best wishes for a Happy and Prosperous New Year to you and yours, and I look forward to helping you with your real estate needs in 2012.

If you're looking for a home in Stoneham, come see this charming cul-de-sac colonial at 11 Rowe Hill Road, Stoneham.  This is a nice house with some great features, like wonderful built-ins, hardwood throughout, a large kitchen with skylight, first-floor laundry, and a nice back yard.  Located in a quiet neighborhood yet just minutes to Routes 93 and 128, make sure you don't miss it.

The Open House is scheduled for 1:00 PM to 3:00 PM on Sunday, November 6th.

Need something different?  Search ALL Stoneham MA Homes For Sale.

Is a condo a better option?  Check out these Stoneham MA Condos For Sale.

Thinking of selling your Stoneham home?  Receive a FREE, no obligation Stoneham MA Market Analysis.  You might be pleasantly surprised at the current market value of your Stoneham home.

I'll be holding a special Saturday Open House at 25 Rolling Lane, Wayland on Saturday October 29th from 12:00 PM to 2:00 PM.  This is a great Split-Level home on a wonderful cul-de-sac.  Be sure to stop by and see this home.

More Wayland MA Homes For Sale

Check out Wayland MA Condos For Sale

If you already own a Wayland home and are thinking of selling, request a FREE, No Obligation Market Analysis of your Wayland home.