3 Reasons Why You Should Buy a Home in Boston, MA NOW!

Home ownership can be a major, but extremely worthwhile, undertaking. As an experienced Boston real estate agent, I've worked with many clients throughout the years to find their dream home in the community they desire in and around Boston, MA. While the real estate market has long been a buyer's paradise, there are a few reasons why you should consider purchasing before 2014. If you've been thinking about taking the plunge and buying one of the many beautiful Boston homes available, here is why you shouldn't wait any longer:

1. Interest Rates Are Expected to Rise. Take advantage of the incredibly low mortgage rates now, because they have nowhere to go but eventually up. Additionally, after January 1st, 2014, several new mortgage lending rules go into effect nationally. One of these new regulations requires lenders to take a much harder look at your debt-to-income ratio before deciding whether or not to approve your loan application. Potential borrowers will not be allowed to exceed a 43% debt-to-income ratio for mortgage loan approval. 

2. Home Prices are Affordable, But Expected to Rise. Going hand-in-hand with interest rates, average home prices are also expected to slowly rise. Boston homes are still very affordable, but the longer you wait, the less affordable they may become. According to a July S&P/Case-Shiller 20-City Composite Home Price Index, home values in May 2013 were up 12.1% from where they were in May 2012. As home values increase, so will sellers' list prices as they move to put their home for sale on the market. Take advantage of historically low interest rates and home prices now, instead of waiting too long. 
  
3. Protection from Inflation. 30-year fixed mortgage rates protect your loan against inflation, which can be significant over the life of the loan (typically a 30-year period). Given today's very low interest rates, locking in your mortgage for the next 30 years at today's prices is a smart move. 

I've been a Boston real estate agent for many years and have worked in a variety of markets. The best time to buy a house is now as waiting until 2014 can be costlier as well as a bit more difficult to obtain a loan. Should you have any questions about the home buying process, I encourage you to contact me today. I look forward to working with potential clients to find the property that they can make their home!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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Tips for First-Time Homebuyers in Boston, MA

Buying a home can be a daunting task, especially for first-time homebuyers. It doesn't have to be that way though. Today's housing market is a once-in-a-lifetime opportunity for first-time buyers. Interest rates are quite low, homes are more affordable, and home inventory is high. Here is a list of tips for the first-time homebuyer in Boston, MA. 

What’s the budget?

This seems like a no-brainer but you'd be surprised, many would-be buyers shop around, fall in love with a home, and then figure out their budget. It's very important to first figure out a budget, then look. This will keep you from future disappointment when you find out that dream house is way out of your league. Make sure to work with a loan officer to figure out how much you can spend. As a rule, you don't want to spend more than 28% of your gross monthly income on the mortgage, taxes, and homeowners' insurance. Certain loans can allow you borrow more, but, that might not be a good idea. Just because someone will lend you more money doesn't mean you should borrow it.

Make sure to consider life after the home sale too. You don't want to be “house poor” and put most of your income into your home. Leave room for possible fixes and upgrades down the road and also consider your regular expenses and “fun” money too. You want to be able to enjoy that new Boston neighborhood you bought in! Take the extra step of getting a pre-approval through your lender so that you are all set when it comes time to write an offer.

Make a Realistic Wish List

The key here is ‘realistic.’ Based on the housing budget you figured out, and where you want to live, compile a list of what you’d like to have in your first Boston home. Check out some homes in your price range online to get a feel for what your money will buy, and make your wish list based that. If you’d love a fully renovated kitchen but none of the listings in your price range have one, be prepared to compromise. You can always upgrade later, but you really shouldn’t spend more than you can afford just for nicer finishes. It's always good to keep in mind that you can always upgrade but you cannot change your location. Location is key in real estate. 

Find a Good Real Estate Agent

A qualified real estate agent will educate you about the market and help guide you to homes that fit your criteria. Once you find that perfect home your Boston real estate agent will negotiate on your behalf, coordinate the work of other needed professionals, and work to solve any problems that may arise during the sale. A qualified real estate agent is your best asset during a home sale.

Over the last 14 years I have grown a highly successful Boston real estate practice devoted to understanding and satisfying the needs and goals of all my clients. As a result, 90% of my business is referred from those satisfied clients.

Without the guidance of a local expert, it can be tricky to cover all of the city's vibrant neighborhoods! As a Boston real estate agent, my services extend beyond helping buyers and sellers through their transactions. I thoroughly enjoy getting prospective residents familiar with their surroundings and exposing them to the best of everything Boston has to offer. Please contact me when you decide to start your home search.

I hope to speak with you soon!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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Halloween Events in and around Boston, MA

Halloween is coming up soon, are you wondering about some family-friendly events in and around Boston, MA? The following are a small slice of the ghoulish going-ons.

Boo at the Zoo
StoneZoo offers trick-or-treating among the animals. Get spooked on the Trick-or-Treat Trail or partake in some creepy crafts, ghoulish games, costume contests, and a haunted maze. 149 Pond St., Stoneham. This weekend, Saturday & Sunday, Oct. 19-20, 11 am - 3 pm. Free with admission: adults, $14; seniors, $12; ages 2-12, $10; under 2, free.

Jack-O-Lantern Spectacular
RogerWilliams Park Zoo's Jack-O-Lantern Spectacular is really a sight to see. Thousands of illuminated pumpkins on display in a woodland setting, hundreds of which are carved with amazing artistry. 1000 Elmwood Ave., Providence, RI. Now through Nov. 3, 6-11 p.m. Mon. - Thurs.: adults $12; seniors, $10 seniors; ages 3-12, $9; under 3, free. Fri. - Sun.: adults, $15; seniors, $13; ages 3-12, $12; under 3, free.

Fort Point Channel Pumpkin Pageant
At the Fort Point Channel Pumpkin Pageant, children and their families are invited to celebrate ghouls, ghosts and all things Halloween during an afternoon of pumpkin carving and fall fun. All pumpkins, child-friendly carving utensils, and refreshments are free throughout the afternoon. 300 Congress St., Boston. Thurs., Oct. 24, noon - 4 p.m. Free.

Halloween Zoo Howl
FranklinPark Zoo offers creepy crafts, ghoulish games, a trick-or-treat trail, and the haunted maze. Other activities include music by Magic 106.7, the chance to view special Halloween-themed animal enrichment, and hay rides. One Franklin Park Rd., Dorchester. Sat. & Sun., Oct. 26-27, 11 a.m. 3 p.m. Adults, $17; seniors, $14; ages 2-12, $11; under 2 free.
 
Haunted Higgins
Higgins Armory Museum has a spooktacular Halloween Party for the entire family. Storytelling, trick-or-treating, creepy crafts, and ghouls and goblins around every corner. 100 Berber St., Worcester. Sat., Oct. 26, 10 a.m. - 4 p.m. Adults, $12; ages 4-16, $8; 3 and under, free. 


Fall Pumpkin Festival at Frog Pond
At the Frog Pond in Boston Commons, hundreds of illuminated jack-o’-lanterns will be floated on the water and ParkSCIENCE activities will be offered. Please bring an 8-inch or smaller carved pumpkin that will be lit and then floated on the Frog Pond for an early evening display. All are encouraged to wear costumes for the Halloween parade. Other family friendly activities include a puppet show, a magic show, and a giant bubble show. Boston Common, Boston. Sun., Oct. 27, 4:30-6:30 p.m. Free.

I hope you enjoy the Halloween season and are able to get out and have some spooky fun with your friends and family. Please know I am only a click a way if you have any Boston, MA real estate needs. I look forward to hearing from you soon!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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Selling your Boston Home in the Fall

Many feel spring is the busiest time of year for home sales but fall is right behind at a close second. Fall is the perfect time to put your property on the market. Inventory is low, so your competition is less, if you price your Boston Home well it will sell! Here are some tips to have your home looking great this fall selling season.

Don't forget about the lawn

Keep your property well-maintained, even in the fall. Continue to mow the lawn as needed and rake up the excess leaves. Make sure the walkways are clear of any leaves as well. Don't worry about needing to rake daily, colorful leaves look beautiful in the fall, even on your lawn. Just make sure it's not overdone or cluttering your walkways.

Get seasonal

Add some fall-themed decorations and plants. Since not much is blooming in fall make sure to add some color in the way of seasonal decor and plants. A nice harvest wreath or some pumpkins and mums can go a long way for curb appeal.

Maximize light

Open all blinds and turn on all lights for every showing. You want each room to be as bright and sunny as possible. The less-intense sunlight of fall may make it necessary to upgrade your interior lights. Even a lamp here and there can help brighten up a room. To maximize the sunlight make sure your windows are sparkling clean.

Give your home a cozy smell

For many, fall conjures up memories of hayrides and Thanksgiving dinners. Make your house more “homey” with some yummy smells. Some recommend simmering some spiced cider on the stove-top or baking some fresh cookies. The folks at Yahoo have some simmer pot recipes that are easy to pull together, you likely have most of these ingredients in your home.

When you are ready to sell your Boston home, look for a professional, someone well-versed in all aspects of the sale process. From small tips like the above to strategic marketing, and negotiation, a qualified professional is a home seller's best asset. Your satisfaction is the key to my success. Don't sell your home without the help of an experienced agent. Contact me when you are ready. I look forward to hearing from you!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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Low-Cost Bathroom Remodels for your Boston Home

Do you have an old bathroom that could use a spruce up? Or maybe you recently purchased a home but don't love the bathrooms? You can change the entire look of your bathroom with minimal money but still net big impact. Here are a few renovation suggestions for your Boston Home's bathroom to give it a whole new look.

Bathtub Refacing

Refinish your old, chipped, or dingy tub into nearly a brand new tub. You can do the project yourself for less money but it likely will take you longer than a professional. A professional could get the job done for under $500 and quickly.

Replace the Flooring

It's time to ditch the vinyl floors or plain tiles. You can purchase porcelain or travertine tiles relatively cheap at your local improvement store. Go with a matte finish for a higher-end look. Invest in a professional to install as bathrooms are quite tricky with all the fixtures needing to cut around. You can estimate doubling the cost of your tile square footage to figure for installation.

Update your Lighting or Fixtures

Updating the lighting in your Boston Home bathroom is the perfect DIY project. A new updated fixture can change the whole design scheme in the room. Also relatively inexpensive are bath fixtures. Fixtures in brushed nickel, antique bronze, pewter finished, or brushed chrome are good choices. A new fixture can help to spruce up an old plain tub or sink and give it more modern design appeal.

I hope you can benefit from some of these design ideas for your home. Should you decide you just can't live with your bathrooms anymore and it's time to sell your Boston Home please look for a professional, someone well-versed in all aspects of the sale process. From strategic marketing, and negotiation, a qualified professional is a home seller's best asset. Your satisfaction is the key to my success. Don't sell your home without the help of an experienced agent. Contact me when you are ready. I look forward to hearing from you!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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