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Tuesday, November 24, 2009
Friday, October 2, 2009
Opportunities Abound for First-Time Homebuyers
If you have recently decided to move from renter to homeowner, you are not alone. First-time homebuyers made up 41 percent of the market, according the National Association of REALTORS®’ 2008 Profile of Home Buyers and Sellers. And price declines in many markets around the country have created unique opportunities for those considering home ownership for the first time.
As a homeowner, you have security and stability, the freedom to decorate and remodel, potential to build equity and tax benefits. And with interest rates still at historically low levels – around 5 % for the typical, 30-year fixed-rate mortgage, combined with ample inventory, now is a great time to buy.
Plus, there are several incentives and programs available specifically for first-time homebuyers.
First-Time Homebuyer Credit
One program that is a great financial opportunity is the highly publicized First-time Homebuyer Credit, which was part of the Housing and Economic Recovery Act of 2008. This federal initiative allows first-time homebuyers to take up to an $8,000 tax credit, which doesn’t have to be repaid, toward a new or resale property purchased prior to Dec. 1, 2009. For new construction, the purchase date is considered to be the date you first occupy the home.
Under this program, a first-time homebuyer is considered to be anyone who has not owned a principal home within the last three years. If you are married, both spouses must meet this criterion. However, unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer. In addition, ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer. You are also eligible to claim first-time buyer status if you owned a principal residence outside of the United States within the last three years.
The actual tax credit may vary depending on the purchase price and your income. The credit is generally equal to 10 percent of the home’s purchase price, not to exceed $8,000. In addition, the income limit to receive full credit is $75,000 for single taxpayers and $150,000 for married taxpayers filing a joint return.
For complete details, visit www.irs.gov and www.federalhousingtaxcredit.com. As always, consult with your tax advisor on how this tax credit may affect you.
State Programs
Many states also have first-time homeowner programs. Under these programs, first-time homebuyers may be eligible for grants for down payments and closing costs. Some states even offer various tax deductions and credits. For instance in Massachusetts we have Mass Housing. Mass Housing is a quasi public state agency that provides below market-rate mortgage financing for first time homebuyers, and other products (such as lead paint abatement and home improvement loans) for homeowners with moderate incomes. For further information: contact Mass Housing at (617) 854 1000 or on the web at www.masshousing.com.
For complete details on these first time home buyer programs available to Massachusetts residents, visit the Massachusetts Department of Housing and Community Development website.
Mortgage Loans
As a first-time homebuyer, you don’t have the advantage of using the equity in a previous property to help bridge costs associated with down payment, closing and other fees. Many financial institutions have mortgage products with you in mind. In addition, the Federal Housing Administration (FHA) offers mortgage programs in which your down payment can be as low as 3.5% of the purchase price, and allows most of your closing costs and fees to be included in the loan. Although FHA does not directly loan to consumers, you can work with a FHA-approved lender. For more information, visit www.hud.gov.
Workshops
Besides financial assistance, there are workshops specifically geared toward first-time homebuyers. At Prudential Unlimited Realty we offer FREE seminars monthly in both our Brookline and Boston offices. They provide a wealth of information about the home-buying process, such as how to search for a home, setting up a budget, choosing a real estate professional, loan products, and so on.
The transition from renter to homebuyer is a large step and is arguably one of the largest investments you’ll make, so make sure you take advantage of all the assistance available to make the road to homeownership that much easier.
I can be reached at 617.264.7900 x227. Prudential Unlimited Realty is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.
As a homeowner, you have security and stability, the freedom to decorate and remodel, potential to build equity and tax benefits. And with interest rates still at historically low levels – around 5 % for the typical, 30-year fixed-rate mortgage, combined with ample inventory, now is a great time to buy.
Plus, there are several incentives and programs available specifically for first-time homebuyers.
First-Time Homebuyer Credit
One program that is a great financial opportunity is the highly publicized First-time Homebuyer Credit, which was part of the Housing and Economic Recovery Act of 2008. This federal initiative allows first-time homebuyers to take up to an $8,000 tax credit, which doesn’t have to be repaid, toward a new or resale property purchased prior to Dec. 1, 2009. For new construction, the purchase date is considered to be the date you first occupy the home.
Under this program, a first-time homebuyer is considered to be anyone who has not owned a principal home within the last three years. If you are married, both spouses must meet this criterion. However, unmarried joint purchasers may allocate the credit amount to any buyer who qualifies as a first-time buyer. In addition, ownership of a vacation home or rental property not used as a principal residence does not disqualify a buyer as a first-time home buyer. You are also eligible to claim first-time buyer status if you owned a principal residence outside of the United States within the last three years.
The actual tax credit may vary depending on the purchase price and your income. The credit is generally equal to 10 percent of the home’s purchase price, not to exceed $8,000. In addition, the income limit to receive full credit is $75,000 for single taxpayers and $150,000 for married taxpayers filing a joint return.
For complete details, visit www.irs.gov and www.federalhousingtaxcredit.com. As always, consult with your tax advisor on how this tax credit may affect you.
State Programs
Many states also have first-time homeowner programs. Under these programs, first-time homebuyers may be eligible for grants for down payments and closing costs. Some states even offer various tax deductions and credits. For instance in Massachusetts we have Mass Housing. Mass Housing is a quasi public state agency that provides below market-rate mortgage financing for first time homebuyers, and other products (such as lead paint abatement and home improvement loans) for homeowners with moderate incomes. For further information: contact Mass Housing at (617) 854 1000 or on the web at www.masshousing.com.
For complete details on these first time home buyer programs available to Massachusetts residents, visit the Massachusetts Department of Housing and Community Development website.
Mortgage Loans
As a first-time homebuyer, you don’t have the advantage of using the equity in a previous property to help bridge costs associated with down payment, closing and other fees. Many financial institutions have mortgage products with you in mind. In addition, the Federal Housing Administration (FHA) offers mortgage programs in which your down payment can be as low as 3.5% of the purchase price, and allows most of your closing costs and fees to be included in the loan. Although FHA does not directly loan to consumers, you can work with a FHA-approved lender. For more information, visit www.hud.gov.
Workshops
Besides financial assistance, there are workshops specifically geared toward first-time homebuyers. At Prudential Unlimited Realty we offer FREE seminars monthly in both our Brookline and Boston offices. They provide a wealth of information about the home-buying process, such as how to search for a home, setting up a budget, choosing a real estate professional, loan products, and so on.
The transition from renter to homebuyer is a large step and is arguably one of the largest investments you’ll make, so make sure you take advantage of all the assistance available to make the road to homeownership that much easier.
I can be reached at 617.264.7900 x227. Prudential Unlimited Realty is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.
Tuesday, August 4, 2009
Downsizing?
Downsizing? I can help. Tired of paying gardeners? Too much space? Still want gracious living?
Let me help you get out of your old home and into a more compact and easier care space closer to the city.
Many people, as they get older and their kids discover their own lives, find that their old home is just more than they need. Keeping it up just takes too much effort and costs too much. There are lots of options besides senior group living or moving to Florida. Many people are moving back to their roots in Brookline and Boston. They just want to enjoy easy living in a condo with access to all of the activity in Coolidge corner and Boston, and huge cost savings.
I can help. My firm specializes in Brookline and the surrounding areas so I keep up with listings and I am personally familiar with what’s available on a daily basis. I have been inside of many available listings and can make as perfect a match for you as possible. I, of course, can help you negotiate the best deal possible, but I can do so much more.
The hardest part of moving is figuring out what to do with all of the stuff in the old house. I can hook you up with consignment shops to recycle furniture and closet items that don’t seem to work in your new place. I can give you some ideas as to what to do to your old house to make it salable at the highest possible price. I can even recommend contractors I have experience with.
I can help you sell your existing home myself or recommend a local broker to scour the marketplace for just the right family to live in your old castle and give it the care it needs.
Of course I don’t do this all by myself. I have a team of dedicated professionals in my office but I also have access to people used in my family real estate business for the past 30 years to consult with. I can do it all for you. In this age of online everything; let me show you what good old fashioned personal service feels like once again. Just give me a call at 617.308.7971. No obligation. I look forward to working with you.
Stacie Yellin
617.308.7971
Stacie@BuyandSellBostonHomes.com
Let me help you get out of your old home and into a more compact and easier care space closer to the city.
Many people, as they get older and their kids discover their own lives, find that their old home is just more than they need. Keeping it up just takes too much effort and costs too much. There are lots of options besides senior group living or moving to Florida. Many people are moving back to their roots in Brookline and Boston. They just want to enjoy easy living in a condo with access to all of the activity in Coolidge corner and Boston, and huge cost savings.
I can help. My firm specializes in Brookline and the surrounding areas so I keep up with listings and I am personally familiar with what’s available on a daily basis. I have been inside of many available listings and can make as perfect a match for you as possible. I, of course, can help you negotiate the best deal possible, but I can do so much more.
The hardest part of moving is figuring out what to do with all of the stuff in the old house. I can hook you up with consignment shops to recycle furniture and closet items that don’t seem to work in your new place. I can give you some ideas as to what to do to your old house to make it salable at the highest possible price. I can even recommend contractors I have experience with.
I can help you sell your existing home myself or recommend a local broker to scour the marketplace for just the right family to live in your old castle and give it the care it needs.
Of course I don’t do this all by myself. I have a team of dedicated professionals in my office but I also have access to people used in my family real estate business for the past 30 years to consult with. I can do it all for you. In this age of online everything; let me show you what good old fashioned personal service feels like once again. Just give me a call at 617.308.7971. No obligation. I look forward to working with you.
Stacie Yellin
617.308.7971
Stacie@BuyandSellBostonHomes.com
Monday, May 4, 2009
Stacie Yellin awarded ABR designation
FOR IMMEDIATE RELEASE
LOCAL REALTOR ACHIEVES NATIONAL RECOGNITION
Brookline, MA – Stacie Yellin with Prudential Unlimited has been awarded the Accredited Buyer’s Representation (ABR) designation by the Real Estate Buyer’s Agent Council. (REBAC) of the NATIONAL ASSOCIATION OF REALTORS (NAR).
Stacie Yellin joins more than 30,000 real estate professionals in North America who have earned the ABRâ designation. All were required to successfully complete a comprehensive course in buyer representation and an elective course focusing on a buyer representation specialty, both in addition to submitting documentation verifying professional experience.
REBAC, founded in 1988, is the world's largest association of real estate professionals focusing specifically on representing the real estate buyer. There are more than 40,000 active members of the organization world-wide. THE NATIONAL ASSOCIATION OF REALTORS, "The Voice for Real Estate," is the world's largest professional association, representing over 1,000,000 members involved in all aspects of the real estate industry.
You may contact the Real Estate Buyer’s Agent Council by telephone, (800) 648-6224, by e-mail, [rebac@realtors.org], or by visiting the REBAC website, [www.REBAC.net].
LOCAL REALTOR ACHIEVES NATIONAL RECOGNITION
Brookline, MA – Stacie Yellin with Prudential Unlimited has been awarded the Accredited Buyer’s Representation (ABR) designation by the Real Estate Buyer’s Agent Council. (REBAC) of the NATIONAL ASSOCIATION OF REALTORS (NAR).
Stacie Yellin joins more than 30,000 real estate professionals in North America who have earned the ABRâ designation. All were required to successfully complete a comprehensive course in buyer representation and an elective course focusing on a buyer representation specialty, both in addition to submitting documentation verifying professional experience.
REBAC, founded in 1988, is the world's largest association of real estate professionals focusing specifically on representing the real estate buyer. There are more than 40,000 active members of the organization world-wide. THE NATIONAL ASSOCIATION OF REALTORS, "The Voice for Real Estate," is the world's largest professional association, representing over 1,000,000 members involved in all aspects of the real estate industry.
You may contact the Real Estate Buyer’s Agent Council by telephone, (800) 648-6224, by e-mail, [rebac@realtors.org], or by visiting the REBAC website, [www.REBAC.net].
Thursday, February 26, 2009
Boston Ranked One of the Top 10 Housing Markets in the Country
2/25/2009
Forbes Magazine reported that the Boston metropolitan housing market was one of the top 10 housing markets in the country. The ranking was based on data from the S&P/Case-Shiller Home Price Index, which measures home prices in 20 metro markets across the country.
Boston ranked number seven on the list, while New York City came in as number one. On the bottom of the list, Las Vegas was ranked as the worst housing market in the country. The article mentioned that Boston ranked high because of its slowing rate of price decline.
Click here to read the full story: http://www.forbes.com/2009/02/24/housing-cities-ten-lifestyle-real-estate_home_prices.html
Forbes Magazine reported that the Boston metropolitan housing market was one of the top 10 housing markets in the country. The ranking was based on data from the S&P/Case-Shiller Home Price Index, which measures home prices in 20 metro markets across the country.
Boston ranked number seven on the list, while New York City came in as number one. On the bottom of the list, Las Vegas was ranked as the worst housing market in the country. The article mentioned that Boston ranked high because of its slowing rate of price decline.
Click here to read the full story: http://www.forbes.com/2009/02/24/housing-cities-ten-lifestyle-real-estate_home_prices.html
Thursday, January 8, 2009
Create an Action Plan for an Easy Move
By Stacie Yellin
Prudential Unlimited Realty
The key to an easy move is careful planning. There are many action items that need to be taken prior to the move all the way up to the actual day the first box is loaded on the moving truck. Take time to write down and organize the decisions and activities that will need to be accomplished prior to the move such as securing a mover and changing your address. Ideally, you should try to break up the tasks over a two-month period. By doing so, you won’t overload your schedule, plus it can save you time and money. To get you started, consider using the checklist below as a guide.
Eight Weeks Prior
Get estimates from at least three professional movers. If you are going to do it yourself, get estimates on rental trucks.
Decide which furniture and household goods you’ll be taking, which needs to be disposed and which needs to be replaced.
If you will be moving to a new city, contact the Chamber of Commerce of that town for a new residence packet. Your sales professional may also have information.
Six Weeks Prior
Inventory your possessions besides furniture – kitchenware, decorative items, electronics, apparel and so on.
Complete a change of address form with the post office. This can be easily done online at www.MoversGuide.com for a minimal cost of $1. Make sure you notify organizations, credit cards companies, and publications to which you subscribe of your new address, too.
Obtain copies of all medical, dental, legal, accounting and veterinarian records.
If children are changing schools, arrange for transfer of educational records.
Itemize moving-related costs with the mover including packing, loading, special charges and insurance.
Four Weeks Prior
Make arrangements for packing your belongings. If you will be using professionals, schedule with the company for packing to take place a day or two before the move. If you will handle packing on your own, purchase adequate boxes, packing materials and tape.
Arrange for short-term or long-term storage if needed.
Make travel arrangements for pets including necessary medical records, immunizations, medication and so on.
Three Weeks Prior
Begin packing items you won’t need immediately or that will go into storage.
Contact utilities on both ends of the move to order termination or turn-on for occupancy date.
Confirm travel arrangements for family and pets.
Two Weeks Prior
Terminate newspaper and other delivery services.
If necessary, arrange and confirm new bank accounts and local services in your new neighborhood.
One Week Prior
Gather important papers, records, and valuables for protected shipment to new home or safe deposit box.
Obtain any prescription medications needed for the next few weeks.
Day Before or Actual Moving Day
Defrost refrigerator/freezer and give away all perishable food.
Keep a box marked “Last Box Packed/First Box Unpacked” for tools, flashlights, first aid kit and so on. On moving day, this should be the last box placed on the truck.
Pack items to carry with you such as valuables, financial records, personal papers and so on.
Give the movers a telephone number and address to reach you.
To be sure, a detailed action plan can get your move well down the road before you ever depart to your new destination.
Stacie Yellin can be reached at 617-264-7900 x227. Prudential Unlimited Realty is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.
Prudential Unlimited Realty
The key to an easy move is careful planning. There are many action items that need to be taken prior to the move all the way up to the actual day the first box is loaded on the moving truck. Take time to write down and organize the decisions and activities that will need to be accomplished prior to the move such as securing a mover and changing your address. Ideally, you should try to break up the tasks over a two-month period. By doing so, you won’t overload your schedule, plus it can save you time and money. To get you started, consider using the checklist below as a guide.
Eight Weeks Prior
Get estimates from at least three professional movers. If you are going to do it yourself, get estimates on rental trucks.
Decide which furniture and household goods you’ll be taking, which needs to be disposed and which needs to be replaced.
If you will be moving to a new city, contact the Chamber of Commerce of that town for a new residence packet. Your sales professional may also have information.
Six Weeks Prior
Inventory your possessions besides furniture – kitchenware, decorative items, electronics, apparel and so on.
Complete a change of address form with the post office. This can be easily done online at www.MoversGuide.com for a minimal cost of $1. Make sure you notify organizations, credit cards companies, and publications to which you subscribe of your new address, too.
Obtain copies of all medical, dental, legal, accounting and veterinarian records.
If children are changing schools, arrange for transfer of educational records.
Itemize moving-related costs with the mover including packing, loading, special charges and insurance.
Four Weeks Prior
Make arrangements for packing your belongings. If you will be using professionals, schedule with the company for packing to take place a day or two before the move. If you will handle packing on your own, purchase adequate boxes, packing materials and tape.
Arrange for short-term or long-term storage if needed.
Make travel arrangements for pets including necessary medical records, immunizations, medication and so on.
Three Weeks Prior
Begin packing items you won’t need immediately or that will go into storage.
Contact utilities on both ends of the move to order termination or turn-on for occupancy date.
Confirm travel arrangements for family and pets.
Two Weeks Prior
Terminate newspaper and other delivery services.
If necessary, arrange and confirm new bank accounts and local services in your new neighborhood.
One Week Prior
Gather important papers, records, and valuables for protected shipment to new home or safe deposit box.
Obtain any prescription medications needed for the next few weeks.
Day Before or Actual Moving Day
Defrost refrigerator/freezer and give away all perishable food.
Keep a box marked “Last Box Packed/First Box Unpacked” for tools, flashlights, first aid kit and so on. On moving day, this should be the last box placed on the truck.
Pack items to carry with you such as valuables, financial records, personal papers and so on.
Give the movers a telephone number and address to reach you.
To be sure, a detailed action plan can get your move well down the road before you ever depart to your new destination.
Stacie Yellin can be reached at 617-264-7900 x227. Prudential Unlimited Realty is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.
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