Dianne Lombardi and Jill Hogan Homes for sale in Waltham MA, Newton MA,Watertown MA


If you're ready to sell your home, you may wonder if the time is right. Timing is truly everything when you’re selling a home. If you have some flexibility, it might be a good idea to wait to sell your home. Even with time constraints, there are a few strategies to employ that can help you find the sweet spot in your time frame.


The Month Matters


It’s widely accepted in the real estate community that the best time to sell a home is in the spring. Since people want to get moved in over the summertime, May could be the best month of the year to put your home on the market. 


Why Spring?


Springtime offers favorable weather conditions in most places. The good weather means that it’s easy for buyers to get to open houses. Homes will also look more attractive with green grass and flowers blooming. Parents also want to get their kids settled into a new home and new neighborhood over the summer months before they start a new school. 


Competition


The favorable conditions along with the urgency of springtime buyers translate into more competition which equates to a better price tag for your home because buyers are willing to pay more due to the anxiety of wanting to find a place. 


The Day Of The Week Matters


Most buyers start looking for homes when they have free time which is generally on the weekend. That means the end of the week- preferably a Thursday- is a good day to pick to list your home. Homes that were listed earlier in the week will be farther down on the search page. Buyers will be more likely to see your listing first the later in the week that it’s listed.   


Consider Your Needs


While timing is a good marketing strategy to sell your home, you need to go by your own timeline. If you need to move due to a job change or other life circumstances, you can’t wait to sell. There are pros to selling during many different times of the year; it just may not be as busy or competitive on the buyer’s side of things. Selling your home fast might not be a sure thing. No matter what time of year you decide to sell your home, just make sure it’s inviting to buyers.         



 Photo by Steve Buissinne via Pixabay

There are a variety of different terms that you must become familiar with as you purchase a new home. You have to pay an application fee, underwriting fees, titles fees and more. But one that seems to leave many buyers scratching their heads is the recording fee. A recording fee is a normal part of the closing costs due when purchasing a home and may be paid by you or the seller.

What is a Recording Fee?

Recording fees are charged by a government agency whenever you need to register or record a real estate purchase. These fees allow the purchase to become part of the public record and are typically charged by the county in which the home was purchased, as this is where all records of property purchases and sales are maintained. Recording fees can vary greatly from county to county.

How Are Recording Fees Determined?

Different agencies can issue their own guideline for submitting documents and recording fees based on each document type. While the recording fee may be $10 in one county, it could be $16 in another neighboring area. Some agencies may charge a recording fee based on the size of the document submitted. For example, you may be charged $30 for the first page of the document, plus an additional $3 for each page that follows. In addition to the title for a property, your local county will also record any mortgages and liens against your home. Therefore, the final cost of recording fees required by the county will depend on the type and overall complexity of the real estate deal.

When a property is sold, a recording fee is usually included as part of the closing costs. Depending on how the sale of your home is structured, these closing costs may be the responsibility of the seller, or they could fall on you to cover before you get the keys. However, it is very common for the buyer to pay for the recording fees so their new mortgage and deed can be entered into the legal records.

Try Not to Stress Over Closing Costs

If you’re having a conversation about closing costs, that means you’re close to finally owning your new home. There are many costs associated with purchasing a home, but at the end of the day, a recording fee shouldn’t be something to be too stressed over.


Photo by NeONBRAND on Unsplash

Once you are ready to buy a house, you need to check your finances to determine how much you can put down, and how much you can afford to pay on a monthly mortgage. Knowing this helps you determine how much house you can afford. However, your interest rate is going to play a huge part in this figure. You can get a mortgage with a fixed rate or an adjustable rate. Typically, adjustable rates start out lower than fixed rates, which could help you if you want to save some money – for a short time.

Fixed Rate Loan

Lenders base a fixed rate on several factors, including the market and your credit score. Once you accept the loan and close on it, that rate will never change. This is a benefit if you don’t like surprises. However, with a fixed rate, if the interest rates go down, you have to refinance to get a lower rate. The good thing is that when rates increase, you don’t have to do anything — your rate stays the same.

Adjustable Rate Loan

With an adjustable rate loan, the interest rate follows the market. Lenders use several indexes to determine what the rate will be. In most cases, the rate is fixed for an introductory period. For example, in a 5/1 ARM, the rate is the same for 5 years, then changes once every year for the balance of the loan. Often the interest rates for an adjustable rate loan are lower than the fixed rate interest rates. However, you could end up paying more interest over the life of the loan if the rates continuously increase each time the rate changes.

Considerations for Adjustable Rate Loans

Before you agree to an adjustable rate loan, be sure to locate key pieces of information:

  • How high can the rate change each time it changes?

  • What is the highest rate the rate will ever be, if it gets to the maximum rate?

  • What is the lowest rate the rate will ever be, as long as rates continue to drop?

  • Who long is the introductory period where the rate doesn’t change?

  • What is the date of the first interest rate change?

  • How often does the rate change?

  • If your lender’s answers are satisfactory, then you need to figure out what the payment would be at the highest rate. If you believe you can still afford the payment at the highest rate, then you might consider an adjustable rate mortgage.

    When an Adjustable Rate is More Beneficial

    An ARM is more beneficial in certain situations, including:

  • If you plan on refinancing before the rate increases;

  • If interest rates are consistently going down, or staying steady; and

  • If you are buying an investment property that you do not plan to keep.

  • Be sure to consider all the different scenarios before you agree to an adjustable rate — if the rate raises significantly and you can’t afford the higher mortgage payments, you could lose your home.



    12 Everdean, Boston, MA 02122

    Dorchester

    Condo

    $469,900
    Price

    4
    Rooms
    2
    Beds
    1
    Baths
    Welcome to 12 Everdean Street in the heart of the Highly Desirable Clam Point Neighborhood! This Stunning Property was Completely Gutted & Fully Renovated in 2017. Conveniently located just Minutes from 93 N/S, Morrissey Blvd & the MBTA. This Meticulously Maintained first floor unit boasts an Open Concept Layout w/a Gorgeously Bright Living Room, Breakfast Bar, & Modern Kitchen. Features include Marble Countertops, Imported Subway Tiled Backsplash, SS Appliances, Custom Stained Hardwoods, Recess Lighting & High Ceilings throughout. Beautiful Tile Jack & Jill Bathroom, Two Spacious Bedrooms, Private 237 sq.ft of Basement & Laundry Area, Rear Deck, Ample Storage & Two Deeded Off Street Parking Spots. New Water Line (2020) Gas Heating & Cooking, Central A/C, & Roof all done in 2017. Nest System & Security System in place as well & can be transferred. Close proximity to the JFK Library, Harborwalk, Marina Bay, Pope John Paul Park, Neposet Rivertrail, UMASS Boston, Beaches & Shopping.
    Open House
    Thursday
    July 16 at 4:30 PM to 6:30 PM
    Please respect CDC Rules - Masks are required - only 2 Buyers inside at a time (agent can accompany if present) Please wait outside until agent lets you in. Viewings 10-15 minutes max if others are waiting.
    More Open Houses
    Cannot make the Open Houses?
    Location: 12 Everdean, Boston, MA 02122    Get Directions

    Similar Properties




    12 Everdean, Boston, MA 02122

    Dorchester

    Condo

    $469,900
    Price

    4
    Rooms
    2
    Beds
    1
    Baths
    Welcome to 12 Everdean Street in the heart of the Highly Desirable Clam Point Neighborhood! This Stunning Property was Completely Gutted & Fully Renovated in 2017. Conveniently located just Minutes from 93 N/S, Morrissey Blvd & the MBTA. This Meticulously Maintained first floor unit boasts an Open Concept Layout w/a Gorgeously Bright Living Room, Breakfast Bar, & Modern Kitchen. Features include Marble Countertops, Imported Subway Tiled Backsplash, SS Appliances, Custom Stained Hardwoods, Recess Lighting & High Ceilings throughout. Beautiful Tile Jack & Jill Bathroom, Two Spacious Bedrooms, Private 237 sq.ft of Basement & Laundry Area, Rear Deck, Ample Storage & Two Deeded Off Street Parking Spots. New Water Line (2020) Gas Heating & Cooking, Central A/C, & Roof all done in 2017. Nest System & Security System in place as well & can be transferred. Close proximity to the JFK Library, Harborwalk, Marina Bay, Pope John Paul Park, Neposet Rivertrail, UMASS Boston, Beaches & Shopping.
    Open House
    Thursday
    July 16 at 4:30 PM to 6:30 PM
    Please respect CDC Rules - Masks are required - only 2 Buyers inside at a time (agent can accompany if present) Please wait outside until agent lets you in. Viewings 10-15 minutes max if others are waiting.
    More Open Houses
    Cannot make the Open Houses?
    Location: 12 Everdean, Boston, MA 02122    Get Directions

    Similar Properties





    Loading