The offer on your new home was accepted, your inspection went smoothly, the purchase and sale agreement has been signed, and now you are just waiting for your mortgage commitment letter. You are almost done, but don’t go shopping for that new furniture set just yet!

Most lenders recommend taking a financial pause. Here are some suggestions to avoid common mistakes that can prevent you from getting your mortgage:

 

1. Do not open any new lines of credit, including opening new credit cards, or taking out new loans.

2. Do not close existing credit accounts.

3. Do not make any large purchases, such as buying/leasing a new car, expensive furniture sets, etc.

4. Do not make significant job changes, such as quitting or changing your job.

5. Do not make large deposits or withdrawals from your bank account.

6. Do not pay your bills late.

If you have any questions, ALWAYS check with your loan officer.

Happy closing!

Ever wonder what it is like to own your own parking space in Boston? Just finding parking alone is time consuming, stressful and can often take a good amount of change out of your pocket if you are renting one daily.  Beat the weather, save time/money and please check out some of the open parking spaces within Back Bay, South End and Beacon Hill that can save you all the hassle, knowing you have a space waiting or you.
 

25 Savoy St., Tandem Parking Space - South End - $200,000
Tandem parking space in the Rollins Square Garage available in the South End between Washington St. and Harrison Ave. Easy access to I-93, beat the rush!  Click here for details

700 Harrison Ave., Single Parking Space - South End - $80,000
Single, garage parking space available in the 700 Harrison Ave. Condominiums, between E. Brookline St. and E. Canton St. Beat the weather with this parking space!  Click here for details

195 Beacon St., Single Parking Space - Back Bay - $345,000
Single parking space available in Back Bay on Beacon St., right near the Mass. Pike. Be right next to your work, and near the shops, restaurants and all that Back Bay has to offer. Easy walk to Fenway Park!  Click here for details

144 Charles St., Single Parking Space - South End - $350,000
Single, garage parking spaces available on Charles St. Own a parking space in one of the most challenging parking neighborhoods in Boston. Click here for details

35 Fay St., Single Parking Space - South End - $125,000
Single, garage parking space available on Fay St., right near E. Berkeley St. No need to clean off your car from snow with this parking space! Easy access to I-93, beat the rush!  Click here for details

Contact Andrew Bemben with any questions or to set up an appointment to discuss parking spaces for sale in Boston.

A Look into Boston's Condominium Sales Market

It's safe to say that Boston's real estate has been on a hot streak. With 2018 at a close, Boston condominium sales have set even higher records than ever before. The Seaport took the lead in 2018 as the most expensive neighborhood, with the highest average sale price. Back Bay and South End continue to be highly sought after neighborhoods. South Boston also saw an increase from previous years when comparing average price and price per square foot; However, the most impressive statistic was that South Boston was the most popular in terms of condominium sales volume, totaling to 753 units sold. Now the question is, what does the market have in store for 2019?

Click to view available condos in South Boston

Click to view available condos in South End

Click to view available condos in Back Bay

Click to view available condos in Beacon Hill

Click to view available condos in North End

Click to see condos for are at the Mandarin Oriental Residences in Boston

!!! GO PATRIOTS !!!

Jamaica Plain | 96 Seaverns St. #PH | 2 BR 1.5 B | $2,995 *Reduced Price*

Sumner Hill neighborhood, in Jamaica plain. Two bedroom plus study, one and a half bath penthouse. Steps to Green Street T, and all the shops, cafés, and restaurants on Centre Street, this sun splashed home doesn’t disappoint. Central air conditioning and heat, in-unit laundry, and an oversize private deck. Please contact Andrew Bemben with any questions or to set up an appointment for this Saturday, 2/2 from 10:00A.M.-3:30P.M. 

Watertown | 31 Irma Ave. #3 | 2 BR 1 B | $2,175 *Reduced Price*

Huge sunny and spacious 2 bedroom with hardwood floors throughout. Renovated kitchen, private deck, central air, and laundry in building. One parking spot included. Ideal location with easy access to public transportation, restaurants, coffee shops, yoga studios and much more. Must See! Please contact Andrew Bemben with any questions or to set up an appointment for this Saturday, 2/2 from 10:00A.M.-3:30P.M. 

Gov. Baker of Massachusetts signed into law a bill regulating and taxing any kind of "short-term rental" (that is, any rental for 31 days or less).  There is an exemption for properties that are leased out for 14 days or less per calendar year, but this law is expected to have a substantial impact on owners that rent vacation homes and utilize services such as Airbnb and VRBO.

This new law takes effect on July 1, 2019.  Hosts are obligated to register with the State and their local municipality, carry $1 million in liability insurance per unit, and possibly be subjected to inspections that will vary from city to town.  Additionally, short-term rentals will be subject to new taxes and fees, including, but not limited to, a state tax of 5.7%, local taxes up to 6% (Boston can levy up to 6.5%; Cape Cod and Islands can levy up to 8.75%) and "community impact fees" of up to 3% may be levied locally on professionally managed properties (owners of 2 or more units in one town).

It will be interesting to see what impact this will have on tourism and business travelers, particularly if cities and towns decide to max out the allowable fees and taxes. 

See additional details at marealtor.com/ShortTermRentals.  

Disclaimer: This article should not be construed as legal or tax advice.  If you own, operate or are considering owning or operating a short-term rental property, we recommend that you seek guidance from a lawyer and/or tax professional.  

Open houses provide terrific opportunities to visit a neighborhood, investigate particular styles of housing, get a feel for space or picture yourself living somewhere.  Your real estate agent can set you up to receive weekly open house lists in your desired area and price range.  Visit an assortment and educate yourselves before getting serious about buying.  Upon arrival, introduce yourself, sign in with your Buyer agent's information, take a listing sheet and respectfully look around.  Feel free to ask questions but save any personal or money discussion for your own agent.
 

Etiquette tips: 

• Don’t use bathrooms or sit on furniture. 
• Ask before opening any closed doors. 
• Do not bring pets.
• Remove shoes if asked.

Other tips:

• Take notes on likes and dislikes.
• Observe other Buyers and listen.
• Concentrate on permanent items as opposed to changeable decor.
• Look up and down and for any signs of neglect or recent repairs.
• Walk the outside of the house/building and any immediate areas.
   

Stay Tuned for Part 2: READY TO BUY!

Looking for a buyer’s agent who can keep you informed and up to date on your real estate search?  You need someone experienced to guide you through this process and help negotiate for a wonderful new home!  Contact us and let one of our experts help!

Need an apartment in Boston?  Here are some spotlighted apartments that are available NOW:

Back Bay  |  185 Beacon St. #5R  |  1BR  |  $2,450 

AVAILABLE NOW!!!  Great views of Boston's historic cityscape, with all new appliances.  Facing South, this one bedroom unit receives an abundance of natural sunlight. This professionally managed building also features a walk-in closet and hardwood floors. Hot Water is included in the rent!  Please contact Andrew Bemben with any questions or to set up an appointment for this Saturday, 11/10 from 10:00 A.M. - 3:30 P.M.

Back Bay  |  719 Boylston St. #303  |  2BR  |  $3,750

AVAILABLE NOW!!!  Be the first to live in this BRAND NEW, two bedroom, professionally managed unit on Boylston and Exeter St.  New hardwood floors throughout, brand new kitchen with dishwasher and new bathroom's as well!  There is even an extra room for storage or office space, central air and washer/dryer in the unit!  Location is great - close to the Prudential Center and right on the Marathon/Parade route.  Please contact Andrew Bemben with any questions or to set up an appointment for this Saturday, 11/10 from 10:00 A.M. - 3:30 P.M.

Good news for developers: Boston recently initiated a "Compact Living" pilot.  It's a two-year program that will allow developers to build so-called micro housing units in the City (though the preferred term is "compact unit" instead of "micro unit").  Boston has been considering such a policy for a while, and this two-year experiment will let the City determine how well it works.  

In order to build micro housing units in Boston, developers need to meet a number of standards.  This includes complying with design standards, inclusionary housing requirements and following specific processes and procedures for approval.

Micro housing is often a hotly debated topic.  Opponents typically raise concerns about density and displacing families (who need larger units to accommodate all family members).  On the other side, micro units help promote affordability by creating more units and they help fill an underserved area of housing demand (according to Boston, the number of single people and couples is 2/3 of the City's population, but the number of studio and one-bedroom units is only 1/3 of the City's housing stock).

For more details on the pilot specifics, click here for Boston's webpage on the Compact Living Pilot.  If you are a developer looking for micro housing opportunities in Boston, contact Eric Shabshelowitz to help with your search.

In need of an apartment?  Here are a few featured apartments that are available for immediate move-in and at half of the broker's fee!

AVAILABLE NOW!!!  Wonderful, completely gut-rehabbed, with all new appliances.  One bedroom unit with large, sunny windows, refinished hardwood floors and an abundance of closet space.  Electricity, Heat and Hot Water included in the rent!  Please contact Andrew Bemben with any questions or to set up an appointment for this Saturday, 10/20 from 10:00 A.M. - 3:30 P.M.

 

Back Bay | 247 Newbury St., U3F | 1 Bed | $3,100

 

 

AVAILABLE NOW!!!  This spacious, sun-filled one bed is a great space for being in it all! As Back Bay maintains to be the neighborhood loaded with entertainment, food, shopping and anything you can fathom. Nestled in a superb location, located on Newbury and Fairfield St. This wonderful unit has a very open living room and large separate kitchen with granite counter tops. Heat and hot water included in the rent as well as a washer/dryer combo in the unit!  Please contact Andrew Bemben with any questions or to set up an appointment for this Saturday, 10/20 from 10:00 A.M. - 3:30 P.M.

 

 

Bay Village | 10 Church St., U3 | 2 Bed | $2,595

 

 

AVAILABLE NOW!!!  Live in this freshly painted, floor-thru two bedroom in Historic Bay Village! Right in the middle of the South End, Back Bay and Theatre District.  Location cannot be more convenient to transportation, the grocery store/markets, entrance/exit ramp to I-90 and laundry services.  This spacious unit has a very open living room with two, equal, large-sized bedrooms.  Please contact Andrew Bemben with any questions or to set up an appointment for this Saturday, 10/20 from 10:00 A.M. - 3:30 P.M.

 

 

Back Bay | 475 Beacon St., U9 | 2 Bed | $3,200

 

 

AVAILABLE NOW!!!  Newly renovated, two bedroom, garden floor-thru on Beacon and Hereford St.  New hardwood floors throughout, brand new kitchen with dishwasher and a new bathroom as well!  There is even a private outdoor patio to enjoy the Southern sun!  Location is great for being so close in proximity to the Charles River Esplanade.  There is common laundry right near the unit with hot water included in the rent!  Please contact Andrew Bemben with any questions or to set up an appointment for this Saturday, 10/20 from 10:00 A.M. - 3:30 P.M.