Archive for the ‘Buyer Information’ Category

This Month in Real Estate – April 2013

Nationally we have a average home price of $173,600, up 11.6% from the same time last year. The average mortgage rate increased to 3.54%  (reported by Freddie Mac).

This month our short video discusses two things a buyer should do to be prepared when buying a home in the current seller’s market we have now (due to low inventory).

If you are thinking of buying a home, contact Debbie today at 603-318-6953 to ask questions.  In 2012 Debbie helped 16 buyers purchase homes, most encountered multi-bid situations.

This Month in Real Estate – November 2012

Nationally we have a average home price of $184,000, up 11% from the same time last year. The average mortgage rate was at 3.37% (reported by Freddie Mac) – another new historical low!.

This month our short video covers the top 3 things that motivate a person to start looking for a home.

If you would like more information about buying a home contact Debbie today at 603-318-6953 to ask questions.  Debbie can even refer you to loan officers or even credit repair professionals in order to get prepared.

This Month in Real Estate – October 2012

Nationally we have a average home price of $187,000, up 9.9% from the same time last year. The average mortgage rate was at 3.49% (reported by Freddie Mac) – a new historical low!.

This month our short video covers the top 3 things buyers are looking for in a home.

If you would like more information about buying a home contact Debbie today at 603-318-6953 to ask questions.  Debbie can even refer you to many contractors you might need to speak with before buying your home.

This Month in Real Estate – August 2012

Nationally we have a average home price of $189,000, up $7,000 from last month’s average The average mortgage rate dropped again to 3.53% (reported by Freddie Mac).

This month our short video covers how buyers can be more successful in the transaction by getting pre-approved beforehand and also how long it takes (on average) to negotiate the price of a house!  Take a look!

If you would like more information about buying a home contact Debbie today at 603-318-6953 to ask questions.  Debbie can even refer you to a loan officer for your pre-approval and many other contractors you might need to speak with either before or after your home’s purchase.

This Month in Real Estate – April 2012

Nationally we have a average home price of $156,000, up $1,000 from last month’s average.  The average mortgage rate of 4.08% (reported by Freddie Mac).

This month our short video covers the national news and how buyers can find a house quicker by taking time to have a buyer consultation with a professional!  Take a look!

If you would like more information about how to buy a home, contact Debbie today at 603-318-6953 to ask questions and schedule a time to understand the buying process.

This Month in Real Estate – February 2012

Nationally we have a average home price of $165,000, up from last month’s average of $164,000.  The average mortgage rate of 3.88% (reported by Freddie Mac) – amazing to see it under 4% another month, right?

This month our short video covers the national news what top eco-friendly features buyers are looking for and tips on how to build and keep a great credit score.  Take a look!

[youtube]http://www.youtube.com/watch?v=UWmlbdyLcGY[/youtube]

If you would like more information about how to get qualified for a mortgage, contact Debbie today at 603-318-6953 to ask questions and for a great referral for a loan officer.

Active Listings Reported as Unavailable Because….

When I receive calls from buyers searching on my website MassNHHomesForSale.com I sometimes have to tell them that the property is not available because it has an accepted offer.  I can hear the frustration in their voice and sometimes the buyer asks me to check again… that’s why I created these 2 videos!

Take a look and see what WE SEE as agents in Part I and Part II.  There are many reasons a property can be “red flagged“.

[youtube]http://www.youtube.com/watch?v=G7MaILSzt2A[/youtube]

That was only 2 reasons…see part 2 for more reasons….

[youtube]http://www.youtube.com/watch?v=bsJ7zPsNqVA[/youtube]

I hope that explains why you might not be able to see a home that is of interest to you!  If there’s a property that YOU are interested in seeing, let me know!  Call or text me at 603-318-6953 now.  If you haven’t found one yet, check out the listings in MA and NH and then call me!

Limited Partnerships and Investment Properties

By Mitchell Weisman of Rubin, Weisman, Colasanti, Kajko & Stein, LLP, Andover MA

Mr. and Mrs. T came to my office the other day.  They are buying a two family home for investment purposes.  They did not want to own the two family in their own names, so they asked me what their options were.  I told them they had several choices and each had advantages and disadvantages that I would try to explain in the next several articles.

The choices are:  partnership, limited partnership, limited liability partnership, trust, Limited Liability Company or corporation. YIKES.  So many entities to choose from!  Let’s start with a partnership, which is often called a general partnership.

Two or more people can join together to form a partnership.  They can choose a name to run the partnership business and the only requirement is that the partnership must register the partnership name with the local city or town clerk.  There is a nominal charge.  There may or may not be a written agreement. Mr. and Mrs. T probably wouldn’t need a written agreement between them but two or more unrelated people should seriously consider a written agreement if they want a partnership.  So, the one major advantage is simplicity of formation.  The partnership must file its own federal and Massachusetts tax returns.  So, Mr. and Mrs. T asked me, what disadvantages there might be.

Each partner is a general partner and each general partner is personally responsible for his own acts AND each partner is responsible for every other partner’s acts as well.  So, as far as Mr. and Mrs. T is concerned, there appears to be no real advantage to forming a partnership to own the two family home.

Mr. T asked about a “limited partnership”.  So I explained to him that a limited partnership is a form of partnership that has general partners and limited partners.  The general partner or partners operate the business and are personally liable for their acts.  The limited partners MUST not interfere or take part in any of the activities of the partnership or they will be called general partners and face the liability of general partners. This form of arrangement would require a carefully drawn written agreement to clearly identify the general and limited partners. Either Mr. T or Mrs. T would be the general Partner and the other would be the limited partner.  Whichever person became the limited partner would have to avoid taking part in the business activities of the partnership.  A limited partnership is no longer a favorite device to recommend to my clients.  It was a popular form of ownership in the 1970’s but it is rarely used today.

Next and probably the form of ownership that has supplanted partnerships and limited partnerships is a limited liability partnership (LLP). In an LLP, all the partners have limited liability, and are similar to the shareholders in a corporation.  The advantage of the LLP is that each partner has limited liability from the acts of the OTHER partners, but ALL partners who are involved with any acts of negligence are still personally liable.  The other partners are protected from the acts of the negligent partner.

Mr. and Mrs. T said they had to go home and digest these forms of ownership but they want to come back to discuss trusts, limited liability companies and corporations.  I told them to check the next blog and I would be there to discuss these remaining entities.

As a real estate agent, I never try to pretend to be an insurance agent, lawyer, or home inspector. I DO work together with these professionals and can refer people to my buyers and sellers that I (or other of my clients) have done business with.  I am really happy to have the author of this blog, Mitchell Weisman, be one of the attorneys that I work with regularly!  :)

Written by Mitchell Weisman, of Rubin, Weisman, Colasanti, Kajko & Stein, LLP, located in Andover and Lexington, MA

The full-service office has many attorneys covering a wide variety of practice areas, including:  Estate Planning and Administration, Family Law, Personal Injury, Residential real Estate, Workers’ Compensation and much more!  Call 978-296-5107   or   781-325-1786 today to get in touch with the office today.

Community Action Home Buyer Program, Haverhill MA

I am excited to share with you this Home Buyer Program provided by Community Action, Inc  in Haverhill!  This is NOT limited to people buying homes in Haverhill, but the classes are taught in Haverhill.  This program offers education to people wanting to buy a home and also, if you qualify, you might also be able to get Down Payment Assistance and Closing Cost Assistance as well. (Both are available as of the time of me writing this blog post in Jan 2012.)

The Community Action, Inc group began in 1965 and is “in the business of caring”.  I have been honored to teach the Realtor portion of the Home Buyer Program class a couple of times and am currently working with 2 buyers who have graduated from the program.  The cost of the class is $50 (per household) and the next class offered is on Jan 16, 18, and 23, 2012 from 6-9pm and new classes are scheduled every other month or as needed.  During the class students meet professionals representing the people they need on their home buyer team, including:  Loan officer, Attorney, Realtor, Insurance Agent, and a Home Inspector.  Although everyone may not need this person, a Credit Counselor also comes to teach.

During the Home Buyer Program‘s class, you will receive training in:

• obtaining a mortgage
• budgeting
• credit
• housing search
• appraisals
• condominium purchase
• legal issues
• insurance
• housing law
• tax advantages
• home inspection
• and many other topics related to home purchase

At the end of the Community Action Inc program participants receive:

• Individual household mortgage pre-qualification
• Information regarding foreclosure sales
• Information regarding area affordable housing lotteries and services of a buyer broker
• Information about down payment assistance programs and reduced interest loans.

If you live near Haverhill and have the time to go to this class, GO!  It is an amazing program and buyers really come out feeling that they know what to expect during the home buying and are less likely to purchase a home with problems.  Read on their Community Action Inc website for more information or call their office at 978-317-8998 .

Trusted Professionals Available Upon Request and

Happy New Year 2012!

This year my goal is to help more people with any part of their life by connecting them with trusted professionals – who do you need this year to help you with ….. accounting, allergies, personal fitness, legal matters, contracting, insurance, and much much more?!

I will be giving out 30 referrals every month and receiving 15, should I know about your business?  Watch my short video below to learn more.

[youtube]http://www.youtube.com/watch?v=jr81AYu2ev4&list=UU_cXlrGcuxqIZC3BNRmiTMA&index=1&feature=plcp[/youtube]

Now call me (Debbie Kruzel) at 603-318-6953 for a professional referral YOU NEED this year in NH or MA!