Wellesley, MA Mortgage Rates Drop Once Again

Call Christine Norcross for more information – cell 781-929-4994 or to research the Boston neighborhoods, visit my Wellesley Real Estate or Newton Real Estate websites.

Mortgage rates have once again hit record lows in an effort to spur real estate sales nationwide.  Poor reports on job creation and high unemployment figures are spurring the lowering of rates, meant to improve the housing sector of our economy.

The current average rate for a 30 year fixed rate mortgage is 4.44%, a year ago it was 5.29%.  A 15 year fixed rate mortgage is averaging 3.92%, down from 4.68% a year ago.  A five year adjustable rate mortgage is averaging 3.56%, down from 4.56% a year ago.

Low mortgage rates appear to be doing the job of increasing home sales.  While real estate sales are in no way booming, they are improving.  The National Association of Realtors (NAR) tracks 155 metro areas across the country and has seen improvements in real estate sales in more than 60% of these areas.

The historically low rates are creating an ideal borrowing climate for those who have a steady source of income, the money for a down payment and good credit.  It is a prime buyers market when it comes to real estate.  The low home values and low mortgage rates combine to make it more affordable to buy a new home than it has been in years.

Call me if you want help with your home purchase. We have a team, Christine Norcross & Partners, at William Raveis and we can help you find your dream home in the Wellesley Real Estate market – Natick, Newton, Needham, Wellesley, Wayland, Weston and more.

Save Money At Closing on Real Estate in Wellesley, MA

Call Christine Norcross for more information – cell 781-929-4994 or to research the Boston neighborhoods, visit my Wellesley Real Estate or Newton Real Estate websites.

It is possible to save money at closing.  Whether you are buying a new home in Newton or Wellesley, MA or refinancing one you already own, closing costs can often make the process more expensive than expected.  When refinancing closing costs can actually get in the way of making a change a poor financial decision.  What many borrowers may not realize is that cutting some of the fees out at closing can happen.

When researching a new loan check with your current Greater Boston Metro-West lender first.  Chances are, if you are in good standing, they do not want to lose your business and will work with you to keep it.  Working with your current lender may avoid a new appraisal, application fees and other charges that come along with the loan process.

Find out what a lender’s fees are well ahead of closing so that you know what to expect.  By seeing the fees in writing you may also have an opportunity to do a bit of bargaining.  The better your credit rating, the more a lender will want to work with you and secure your business.

Finally, look into wrapping your closing costs, or at least a portion of them into your loan.  If it make financial sense it can save you money up front.  With mortgage rates inWellesley and Newton, MA currently hanging out below 5% wrapping a couple of thousand dollars into a mortgage does not make too big of an increase on the monthly payment.  Shop around and speak with a number of lenders before making your decision.

Call me if you want help with your home purchase. We have a team, Christine Norcross & Partners, at William Raveis and we can help you find your dream home in the Wellesley Real Estate market – Natick, Newton, Needham, Wellesley, Wayland, Weston and more.

Click here to read an article from CNN Money regarding cutting costs at closing.

Buying A Home in Wellesley, MA is An Investment

Call Christine Norcross for more information – cell 781-929-4994 or to research the Wellesley Real Estate Market and neighborhoods, visit my website www.ChristineNorcross.com

Buying a home in Wellesley, MA  is always an investment and choosing the best bang for your buck is important.  Whether a home is big or small, choosing the home that will have the best return on your investment is key.  Schools, low crime rate, amenities and walkability all affect the resale value of a home.

Key elements that attract Wellesley home buyers to a neighborhood or specific home have historically included the quality of available education, the safety of the area, the parks and open space nearby, and the shops and restaurants in the area.  Choosing a home in a walkable location can add value to a home as well.  The ability to walk to a restaurant or a store is a huge draw for many people.  Not everyone wants to hop in a car to pick up a gallon of milk or meet a friend for lunch.

While it is often hard to find a home that has it all, it is important to choose a home that has what you are looking for.  In the end if a home has what you are looking for it will most likely have what someone else is looking for when it comes time for you to sell.

Call me if you want help with your home purchase. We have a team, Christine Norcross & Partners, at William Raveis and we can help you find your dream home in the Wellesley Real Estate Market or  Natick, Newton, Needham, Wellesley, Wayland, Weston and more.

Click here to read a recent article from Realty Times regarding the walkability factor of buying real estate.

Price Matters in Wellesley, MA

Call Christine Norcross for more information – cell 781-929-4994 or to research the Boston neighborhoods, visit my website www.HomesbyNorcross.com.

When it comes to real estate price matters.  Most real estate professionals will aim to price your home at fair market value at the onset and some sellers are on board, others are not.  It has been a rough realization for many to acknowledge that it is a buyers market out there.  It has been an unknown in recent months as to whether home values will continue to drop, stabilize or improve and every market is different.  Regardless of what is going on, if your home isn’t selling then you may want to reduce its price.

Whether your home is seeing a lot of potential home buyers or very few, if you haven’t had an offer there could be a few factors.  What is your home lacking?  Can you fix what your home is lacking?  Chances are that if your home is on the market for sale, you are ready to sell it and you are not going to make any large changes to it.  The one change you can make is lowering the price.  Money matters, more today than ever.  If someone sees a home for sale at what they see as a bargain price then they are much more likely to make an offer.

Can you afford to hold on to your home until prices start appreciating again?  If so keep your price where it is.  If you need to sell then lowering the price could be the key to selling it now.

Call me if you want help with your home purchase. We have a team, Christine Norcross & Partners, at William Raveis and we can help you find your dream home in the Boston Metro West Market – Natick, Newton, Needham, Wellesley, Wayland, Weston and more.

Click here to read an article from House Logic on reasons to lower the price of your home.

Relocating to Wellesley, MA? To Buy or Rent is the Question

Call Christine Norcross for more information – cell 781-929-4994 or to research the Boston neighborhoods, visit my website www.HomesbyNorcross.com.

If you are relocating chances are that one of the biggest questions looming in your mind is whether you should buy or rent a home.  Of course only you can make that decision but there are some important factors to weigh.  How permanent do you feel this relocation is?  Do you have to sell a home before you buy a new home?  Are home prices in the area that you are relocating to stable?

There is no doubt about it that buying a home today is more affordable than ever.  Low mortgage rates, higher than normal inventory levels and low home values combine to make an ideal buyers market when it comes to real estate.  If you already own a home maybe renting it out until the market stabilizes or improves makes sense.  If you can hold on to your current home, cover its mortgage, and qualify to buy a new home, you could be in an ideal situation.

Examine the affordability levels of your new location.  Is it less expensive to rent, or would a monthly mortgage payment be the same or less than paying rent?  Find a Realtor that comes highly recommended and pick his brain.  Get to know your new area and weigh the pros and cons of renting vs. buying heavily, after-all, buying real estate is a big investment.

Call me if you want help with your home purchase. We have a team, Christine Norcross & Partners, at William Raveis and we can help you find your dream home in the Boston Metro West Market – Natick, Newton, Needham, Wellesley, Wayland, Weston and more.

Click here to read a recent article from Bankrate regarding selling vs. renting a home when relocating.

Tax Credit May Be Gone But There is Still Assistance in Wellesley, MA

Call Christine Norcross for more information – cell 781-929-4994 or to research the Boston neighborhoods, visit my website www.HomesbyNorcross.com.

The home buyer tax credit may be gone but assistance is still out there.  Potential first time home buyers have options to explore when considering jumping into real estate.  One of the first hurdles when buying a home for the first time is often coming up with a down payment.  Even a good saver may have a hard time saving the thousands that can be necessary for a down payment.  Luckily there are options for help.

The Department of Housing and Urban Development (HUD) has many assistance and reference programs.  HUD’s website has links to Habitat for Humanity, rural housing, and a number of home buyer programs in your area.  The HUD website can be a great resource, offering a wealth of information on what is involved in purchasing a home.

The Federal Housing Agency (FHA) is another agency offering information and assistance.  The FHA helps buyers buy homes with both low interest rates and a small down payment. Where a standard down payment can be anywhere from 10 to 20%, an FHA loan can require as little as 3.5% down.  Standard loan fees can be wrapped into the loan through FHA as well.

If home ownership seems like a pipe dream, it doesn’t have to.  If you have a steady source of income then you have mastered one of your biggest hurdles.  Contact a real estate professional today to learn more about purchasing real estate in your area.

Call me if you want help with your home purchase. We have a team, Christine Norcross & Partners, at William Raveis and we can help you find your dream home in the Boston Metro West Market – Natick, Newton, Needham, Wellesley, Wayland, Weston and more.

Click here to visit the HUD website.
Click here to learn more about FHA.

When it Comes to Wellesley, MA Real Estate, What is Affordable?

Call Christine Norcross for more information – cell 781-929-4994 or to research the Boston neighborhoods, visit my website www.HomesbyNorcross.com.

When a potential home buyer is considering purchasing real estate one of the first questions he will ask is, is this home affordable?  There has been a great deal of talk about housing affordability over the past couple of years and for the most part affordability is at an all time high throughout the United States.

Affordability is a simple calculation involving income and expenses.  When the expense of owning a home equals 30% or less of a household’s monthly income then it is considered affordable.  Affordability levels have been high for over a year now, indicating that it is a great time to buy a home, after-all it is wiser to buy real estate when it makes financial sense.

Buying a home that exceeds a household’s budget is a tough mistake to make.  Let’s face it, money matters and anyone would rather buy an affordable home than one that isn’t.  Contact a local Realtor to learn more about the affordability of real estate in the area that you want to buy a home.

Call me if you want help with your home purchase. We have a team, Christine Norcross & Partners, at William Raveis and we can help you find your dream home in the Boston Metro West Market – Natick, Newton, Needham, Wellesley, Wayland, Weston and more.

Click here to read an article from Realty Times regarding affordability.

Tax Credits Gone, What’s in Store For Wellesley, MA Real Estate?

Call Christine Norcross for more information – cell 781-929-4994 or to research the Boston neighborhoods, visit my website www.HomesbyNorcross.com.

While it is true that the home buyer tax credits spurred real estate sales during the past 12 months or so, it is also true that that is exactly what the tax credits were designed to do. There is an old saying, “all good things must come to an end”, the tax credits could not last forever but just because they are gone does not mean that recovery is not occurring.

What does the real estate market have going for it now?  Two very important things: low mortgage rates and low home prices.  While a tax credit may be helpful up front, low mortgage rates can save much more than a tax credit over the length of a loan, diminishing the overall cost of a home by thousands of dollars.

Real estate is recovering at a steady pace.  While impatience may create a doubt about the reality of recovery it is important to remember that it is a boom that created the bust in the first place, and a slow approach is more likely to be a secure step in the right direction.

Call me if you want help with your home purchase. We have a team, Christine Norcross & Partners, at William Raveis and we can help you find your dream home in the Boston Metro West Market – Natick, Newton, Needham, Wellesley, Wayland, Weston and more.

Click here to read a recent article from Realty Times regarding the current state of real estate.

Wellesley, MA Homes for Sale – Open House this Weekend!

Call Christine Norcross for more information – cell 781-929-4994 or to research the Boston neighborhoods, visit my website www.HomesbyNorcross.com.

We have 2 Wellesley homes on open house this weekend.  Don’t miss these beautiful homes and opportunity.

Wellesley: 28 Cavanaugh – Sunday 7/18 – 1pm-3pm

This is a beautiful home, 3 bedroom and 1.5 bathroom, with central AC, lovely backyard, tall ceilings & finished basement. Just over 1600 sf of living space.   It is in move in ready with nothing to do but bring your clothes. This is a fabulous location – walk to Bates Elementary School, walk little over 1 mile to the town center and more.

For more information and photos: http://www.28cavanaughroad.com/

Wellesley: 6 Wellesley Ave – Sunday 7/18 – 1pm-2:30pm

Recently renovated home in the center of town.  This is a 6 bedroom, 4+ bath hom with tall ceilings, granite kitchen, central ac and more.
For more information and photos: http://www.6wellesleyave.com/

Please stop by and see these two homes.

Call me if you want help with your home purchase. We have a team, Christine Norcross & Partners, at William Raveis and we can help you find your dream home in the Boston Metro West Market – Natick, Newton, Needham, Wellesley, Wayland, Weston and more.

Is Now the Right Time to Upgrade a Home in Wellesley, MA?

Call Christine Norcross for more information – cell 781-929-4994 or to research the Boston neighborhoods, visit my website www.HomesbyNorcross.com.

Headlines touted the infamous line once again Friday that mortgage rates are at historic lows, inciting the burning question, “Is now the right time to upgrade my home to a bigger, better one?”  Affordability is at an all-time high at many places throughout the Country and if one has the ability to acquire and secure a mortgage, the cost of buying a home is better than it has been in years.  That being said, wanting to move up and being able to move up are two different things, and it is a great time to take a hard, honest look at what makes sense for your particular situation.

Finances.  If your current mortgage is a stretch financially then you should hardly consider taking on more.  If you have a solid steady income and can afford more, it is a great time to start looking for a housing upgrade.  Affordability is seen as housing costs taking up 30% of a household’s monthly income, if a new mortgage will keep you there a new home makes sense.

Current home.  Do you need to sell your current home to buy a new one?  If you can hold on to your current home and rent it until the market is fully recovered, your investment can be sold at a bigger profit.  This is especially wise if your current home can be rented for more than the mortgage payment every month.

It is not a wise idea to upgrade to a new home if it does not make financial sense for your future.  If it does make financial sense there could never be a better time to jump into a new home.  It is a great time to discuss a possible move with a financial advisor or a qualified real estate professional.

Call me if you want help with your home purchase. We have a team, Christine Norcross & Partners, at William Raveis and we can help you find your dream home in the Boston Metro West Market – Natick, Newton, Needham, Wellesley, Wayland, Weston and more.

Click here to read a recent article from Realty Times regarding upgrading to a new home.