Boston.com featured a list of ten ways to improve an older home. From adding transom windows to open a room, to changing exterior paint colors, this list offers several solutions if you are selling your home or buying a previously owned home.
For more information, go to boston.com.
For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.
Monday, July 27, 2009
Friday, July 17, 2009
Spotlight on Boston real estate: Monetizing the First-Time Homebuyer Tax Credit in Massachusetts
An article in Banker and Tradesman discussed the exciting news that a program in Massachusetts will allow qualified buyers to use the First-Time Homebuyer Tax Credit as a downpayment:
Patrick, MassHousing Monetize First-Time Homebuyer Credit
By Ian B. Murphy - Banker & Tradesman Staff Writer
July 14, 2009
Gov. Deval Patrick has announced a loan program through MassHousing allowing first-time homebuyers to monetize and use an $8,000 federal tax credit as a funding source toward the closing costs of their new home. The principal and interest payments for the loan will be deferred until June 1, 2010, to allow first-time homebuyers to pay back MassHousing with their federal tax credit. If loans aren't paid by the June deadline, they will be amortized for 10 years at the rate of their original mortgage. Gary Rogers, president of the Massachusetts Association of Realtors (MAR), said not paying back the loan with money saved from the tax credit is still a decent option. "If that's what the homebuyer opts to do, that's still an excellent program; usually second mortgages have much higher rates," Rogers told Banker & Tradesman.
The loans will be available only to homebuyers with MassHousing mortgages, through MassHousing-approved lenders. To be eligible, loan participants must use the home purchased through the program as their primary residence for at least three years, and must purchase a one, two, three or four-family home from a seller unrelated to the buyer by Nov. 30. "These loans will both help prospective homebuyers achieve the comfort and stability of homeownership for their families, and also stimulate the commonwealth's economy through increased home sales, while reviving neighborhoods impacted by foreclosure," Patrick said in a statement.
This is the first program of its type in Massachusetts, according to Rogers, but there have been other variations of the same theme in other states. MAR worked with Patrick, Lt. Gov. Timothy Murray, and MassHousing to bring the program to fruition. "It's a partnership; we're right there with them, and we'll be making sure that our Realtors inform the people who this is aimed for, and that they know about the program," Rogers said. "The Tax Credit Loan will be of great benefit to homebuyers, Realtors and MassHousing-approved lenders, and we applaud the Patrick-Murray administration for its leadership in promoting affordable homeownership opportunities in Massachusetts," said MassHousing Executive Director Thomas R. Gleason.
For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.
Patrick, MassHousing Monetize First-Time Homebuyer Credit
By Ian B. Murphy - Banker & Tradesman Staff Writer
July 14, 2009
Gov. Deval Patrick has announced a loan program through MassHousing allowing first-time homebuyers to monetize and use an $8,000 federal tax credit as a funding source toward the closing costs of their new home. The principal and interest payments for the loan will be deferred until June 1, 2010, to allow first-time homebuyers to pay back MassHousing with their federal tax credit. If loans aren't paid by the June deadline, they will be amortized for 10 years at the rate of their original mortgage. Gary Rogers, president of the Massachusetts Association of Realtors (MAR), said not paying back the loan with money saved from the tax credit is still a decent option. "If that's what the homebuyer opts to do, that's still an excellent program; usually second mortgages have much higher rates," Rogers told Banker & Tradesman.
The loans will be available only to homebuyers with MassHousing mortgages, through MassHousing-approved lenders. To be eligible, loan participants must use the home purchased through the program as their primary residence for at least three years, and must purchase a one, two, three or four-family home from a seller unrelated to the buyer by Nov. 30. "These loans will both help prospective homebuyers achieve the comfort and stability of homeownership for their families, and also stimulate the commonwealth's economy through increased home sales, while reviving neighborhoods impacted by foreclosure," Patrick said in a statement.
This is the first program of its type in Massachusetts, according to Rogers, but there have been other variations of the same theme in other states. MAR worked with Patrick, Lt. Gov. Timothy Murray, and MassHousing to bring the program to fruition. "It's a partnership; we're right there with them, and we'll be making sure that our Realtors inform the people who this is aimed for, and that they know about the program," Rogers said. "The Tax Credit Loan will be of great benefit to homebuyers, Realtors and MassHousing-approved lenders, and we applaud the Patrick-Murray administration for its leadership in promoting affordable homeownership opportunities in Massachusetts," said MassHousing Executive Director Thomas R. Gleason.
For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.
Tuesday, July 7, 2009
Spotlight on Boston real estate: Google Maps now displays homes for sale
Google announced that users may now use Google Maps to search for homes. This makes for another good source for buyers – allowing for ease of use, as well as the convenience of using street views.
For more information, go to google maps blog.
For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.
Thursday, July 2, 2009
Spotlight on Boston: July 4th with the Pops
It may not feel like summer, but Boston’s Independence Day celebrations begin tomorrow. For more information about the warm-up concert, the fireworks and more go to www.july4th.org.
For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.
For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.
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