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April 2012 - JANET PORCARO

Three Multi-family Homes in Newton

Three Multi-family Homes in Newton

Multi-family properties spell opportunity.  The following 3 properties all have some features in common: hardwood floors, lots of natural woodwork, architectural details, and good light. Coincidentally, they all have screened in porches.  This is where the similarities end and the many variations begin. My point being…comparing properties, determining market value in New England is challenging. Not only do our neighborhoods vary from village to village, properties vary greatly in style, size, lot size, layout and more. Condition is also an important part of the puzzle. Most important the number have to work. If you would like a Buyer Agent’s advice as you tour any of these homes, contact me at Janet@JanetPorcaro.net.

2033-2035 Commonwealth Avenue

2033-2035 Commonwealth Avenue

MLS # 71372602
2033-2035 Commonwealth Ave
Newton, MA 02466-2005

  • List price: $724,000
  • Total rooms: 10
  • Total bedrooms: 4
  • Total bathrooms: 2 full
  • Approx. living area: 2616
  • Approx. lot size: 5770

Listing broker is Karen Nickel, Hammond Residential, Chestnut Hill

268Melrose

268 Melrose Street

MLS #71373820 268 Melrose St
Newton, MA : Auburndale 02466

  • List Price: $589,000
  • Total rooms: 13
  • Total bedrooms: 5
  • Total bathrooms: 2 full
  • Approx. living area: 2607
  • Approx. lot size: 6250
Listing broker is Ned Mahoney, RE/MAX Leading Edge, Newton
117 Pleasant Street

117 Pleasant Street

MLS #71372378
117 Pleasant St
Newton, MA 02459

  • List Price: $910,000
  • Total rooms: 12
  • Total bedrooms: 4
  • Total bathrooms: 2 full
  • Approx. living area: 2700
  • Approx. lot size: 7456
Listing broker is John Saleh, Centre Realty Group, Newton Centre
Play VisualTour
Play VisualTour
Play VisualTour

The information in these listings was gathered from third party sources including the seller and public records. MLS Property Information Network and its subscribers disclaim any and all representations or warranties as to the accuracy of this information. Content ©2012 MLS Property Information Network, Inc.

Newton Teen Band Rocks Out at the West Suburban YMCA!

Newton Teen Band Rocks Out at the West Suburban YMCA!

Last night the band Levity performed in the auditorium at the West Suburban YMCA. I missed the show–bummer!  However, I stopped in the get the scoop before the show and was lucky to meet the band members and supporting staff. It looked like it was going to be a great show!

Sebastian Barton – bass
Cole Brightbill – lead vocals, guitar
Sam Mayer – drums, guitar
Alex Fabry – keyboard, trumpet

Levity

Charles Attisano, Band artist/merchandise director, designer

The performance was sponsored by the great folks and the YMCA and the new Newton Teen Center.

 

Y staff and volunteer

Brian Rizzo, Kevin O’Connell, Jesse Trepiak – volunteer and staff extraordinaire!

The Newton Teen Center is a collaborative effort between the West Suburban YMCA, The Newton Partnership, and the Newton Public Schools…Located at the West Suburban YMCA, the center provides a welcoming and enriching community supervised by caring adults who provide resources, encouragement, and inspiration at no cost to the participants. Confidence, creative thinking, and respect for oneself and for one another are always encouraged and supported.  ~www.westsuburbanymca.org

Official Groupies – Jesse Metzger and Yankel Karasik

Great things happen when communities collaborate!

Upcoming event – Open Mic Nights, Friday May 11, Friday June 8
FREE 6-9 p.m.
Auditorium

History Repeats Itself – Multi-family Homes Gain Renewed Popularity

History Repeats Itself – Multi-family Homes Gain Renewed Popularity

Multi-family homes have been a consistent part of the Greater Boston Area housing inventory since the Civil War if not before. During the latter part of the nineteenth century, wood frame multi-family homes gave the working class an opportunity to experience home ownership as Boston’s “streetcar suburb” developed.

“…Owners of multi-family houses would then rent out the other living units in their building, thereby greatly increasing their income. The rented units allowed newcomers to get established in the city and eventually save enough money to become landowners in turn.” ~Peter H. Wiederspahn, Associate Professor, Northeastern University,  Department of Architecture

Fast forward to 2012 where we find the multi-family home option becoming increasingly attractive. Buyers are considering the multi-family home for either owner occupancy or investment purposes.  Rental properties are in demand in the Greater Boston Area making it fairly easy for a landlord to find strong tenants. Housing prices seem to be on the upturn making this a fabulous time to buy a home. Consider a multi-family option.

Following are two beautiful Newton multi-family homes currently on the market as of April 24, 2012.

Newton Multi-families

Comm Ave – Fireplace in living room

2138-2140 Commonwealth Avenue, Newton, MA 02466
This Pottery Barn 2 family home is in move-in condition. Full of charming details with a fireplace living room, built in dining room hutch and a back deck in each unit and seated comfortably on the tree lined lot. You will experience a sense of pride of ownership when you visit this comfortable home located in the Village

Comm Ave – Breakfast nook in 2nd floor unit

Auburndale– known for its beautiful parks and recreational areas including the community rowing on the Charles River.

MLS No. 71368928 – listed for $715,000
5 bedrooms, 2 full baths
2,444 sq. ft. living area
8,527 sq. ft. lot
2 garage spaces, 3 parking spaces
Listing broker is Mary Lewis, Century 21 Commonwealth

31-33 Cotter Road

31-34 Cotter Road, Newton, MA 02468
This handsome white home features  updated kitchens, gleaming hard wood floors, and charming details, you will want to stay.  This well maintained 2 family is located in the Village of Waban–an historic Village with a charming Village Center conveniently located next to the Waban Center T stop.  Read about Waban at www.wabanimprovement.org.

MLS No. 71341949 – listed for $749,000
6 bedrooms, 2 full baths
2,862 sq. ft. living area
6,060 sq. ft. lot
1 garage space, 4 parking spaces

Newton Multi-families

Cotter Rd – White fireplace in living room

Listing broker is Christopher Lee from Gibson Sotheby’s International

If you would like a Buyer Agent’s advice as you tour the home, contact me at Janet@JanetPorcaro.net.

The information in this listing was gathered from third party sources including the seller and public records. MLS Property Information Network and its subscribers disclaim any and all representations or warranties as to the accuracy of this information. Content ©2011 MLS Property Information Network, Inc.

Cotter Rd – side view

Newton Multi-family

Cotter Rd – Stainless steel and granite kitchen

Comm Ave – bedroom

Comm Ave – kitchen

Comm Ave – Read deck

Comm Ave – Listing Broker Mary Lewis entering dining area

Ten Tips to Consider While Waiting for the Loan Commitment

So you found the home of your dreams!  The home inspection was a breeze. You signed the Purchase and Sales Agreement yesterday. What do you do while you’re waiting for your loan commitment to come through? Jeff Hunt, Massachusetts Mortgage Broker, Asset Mortgage Group, gives us the following  useful tips to avoid the credit mistakes that many borrowers make during the loan process.

  1. DON’T APPLY FOR NEW CREDIT OF ANY KIND. Including those “You have been pre-approved” credit card invitations that you receive in the mail. Every time that you have your credit pulled by a potential creditor or lender, you lose points from your credit score immediately. Depending on the elements in your current credit report, you could lose anywhere from 2-50 points for one hard inquiry.
  2. DON’T PAY OFF COLLECTIONS OR CHARGE OFFS during the loan process. Paying collections will decrease the credit score immediately due to the date of last activity becoming recent. If you want to pay off old accounts, do it through escrow, and make sure that 1) you validate that the debt is yours, and 2) that the creditor agrees to give you a letter of deletion.
  3. DON’T CLOSE CREDIT CARD ACCOUNTS. If you close a credit card account it will appear to the FICO that your debt ratio has gone up. Also, closing a card will affect other factors in the score such as length of credit history. If you have to close a credit card account, do it after closing, and make sure it is a more recent account.
  4. DON’T MAX OUT OR OVER CHARGE ON YOUR CREDIT CARD ACCOUNTS. This is the fastest way to bring your score down 50-100 points immediately. Try to keep your credit card balances below 30% of their available limit at all times during the loan process. If you decide to pay down balances, do it across the board. Meaning, make an extra payment on all of your cards at the same time.
  5. DON’T CONSOLIDATE YOUR DEBT ONTO 1 OR 2 CREDIT CARDS. It seems like it would be the smart thing to do, however, when you consolidate all of your debt onto one card, it appears that you are maxed out on that card, and the system will penalize you as mentioned above in 4. If you want to save money on credit card interest rates, wait until after closing.
  6. DON’T DO ANYTHING THAT WILL CAUSE A RED FLAG TO BE RAISED BY THE SCORING SYSTEM. This would include adding new accounts, co-signing on a loan, changing your name or address with the bureaus. The less activity on your reports during the loan process, the better.
  7. DO JOIN A CREDIT WATCH PROGRAM. If you join a credit watch program, you can check your reports weekly, or even daily depending on the program you select. (When you pull your own reports, you don’t get dinged for a hard inquiry.) This way, if something does show up on your reports that has caused your score to go down, you’ll know it immediately, and you may be able to take care of the problem before closing.
  8. DO STAY CURRENT ON EXISTING ACCOUNTS. Like your mortgage and car payments. One 30-day late can cost you anywhere from 30-75.
  9. DO CONTINUE TO USE YOUR CREDIT AS NORMAL. Red Flags are raised easily with the scoring system. If it appears that you are changing your pattern, it will raise a red flag, and your score could go down.
  10. DO CALL YOUR BROKER if you receive something in the mail from a creditor or collection agency that you believe may affect your score during the loan process. Your broker may be able to supply you with the resources you need to stop any derogatory reporting to the bureaus.

Keep in mind the actual lender will pull their own credit report at closing, and if your credit scores have dropped, you may no longer qualify for the rate that was underwritten and the final approval may come back with a higher rate. Unfortunately, all lenders qualify you by your credit score as to which criteria you fit and every loan has different criteria attached. The loan to value, the debt to ratio and so on etc. This is what borrowers do not understand, and they think the loan officer is baiting and switching. They are not. If an issue comes up that the lender decides you do not qualify for a certain loan, the only thing a loan officer can do is shop for lenders and see if any are willing to give the rate and program they thought you qualified for. If you have good credit and know your score, the loan officer can give you an idea what he or she can offer based on what you say. But do not expect them to stand by their quote if and when they pull your credit your scores have dropped.

Jeffrey Hunt Send an email to Jeff
Asset Mortgage Group
617-823-0616