Boston, MA – Mortgage Rates Going Up

Mortgage rates in Boston, MA are up this week and possibly may rise higher. The current 30 year mortgage is hovering just under 4 at 3.95%. With the continual uptick many would-be buyers are concerned that their chances at owning a slice of the American dream have gone out the window. Comparatively, those who were in the process of refinancing their mortgages are now wondering if it’s worth the time or trouble to follow through. So, what is a Boston, MA homebuyer to do in this type of situation? There are a few options to explore that I would like to advise buyers to look into before pulling the plug on their Boston, MA home search.

Choose an Adjustable Rate Mortgage

If you would like to lower your interest rate for a set period of time, you could opt for a 10 or 5-year ARM to keep the payments down. Just keep in mind that in 10 years that rate may go up quite a bit as it's hard to predict the market in 5-10 years.

Ask your lender about a float-down option

Not all lenders offer a float-down option, but it’s worth inquiring about. With a float-down, the borrower has a right to have his or her mortgage rate reduced if rates happen to fall. This option can be attached to any type of loan, and the terms are at the discretion of each individual lender.

Wait for the market to calm

As always, Boston, MA homebuyers have the option to wait it out for a week or so and see where mortgage rates go from here. There’s a chance they may drop slightly, but there’s no guarantee. If they appear to hold steady, it might be a good idea to lock in now rather than risk falling victim to another increase down the road.

If you’re planning to buy a home in Boston, MA, please contact a Boston, MA real estate agent. I’d be happy to go over all of your options with you and recommend a lender or two. Despite the higher rates, the important thing to remember is that mortgage rates are still quite low by historical standards. I look forward to assisting you in your journey!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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Boston, MA – Harborfest 2015

As summer is in full swing and June is dwindling down the next big summer event is the Fourth of July! Boston is the perfect place for celebrating our nation and partaking in some Fourth of July festivities. One of the biggest Fourth of July celebrations in Boston, MA is Harborfest.

Boston Harborfest is a Fourth of July Festival that showcases the colonial and maritime heritage of the cradle of the American Revolution: our Historic City of Boston! Running from July 1^st through July 5^th Boston Harborfest attracts more than 2.5 million visitors to Boston from across the country and around the globe. As a visitor you will experience the educational and entertaining programs that highlight our rich history. As part of the yearly fest there are re-enactments, walking tours, US naval ships, free concerts, cruises, exhibits, and much more. Don't forget to also check out the Boston Pops Fireworks Spectacular along the Charles River at 10:30pm on July 4^th.

In addition to the festivities I have listed above, there are numerous other festivals throughout the summer. Once you buy a home in Boston, MA and get acquainted with your neighborhood, you’ll find all of the hidden gems that the locals rave about and return to year after year.

Summer is a fantastic time to buy a home in Boston, MA. All of your new neighbors come out of hibernation and are outdoors, making it easy to develop new friendships. If you’d like a personal guide to help show you around the city, please contact a Boston, MA real estate agent, it’s my pleasure to show newcomers what a great place Boston is to settle down.

I look forward to hearing from you when the time is right!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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Boston, MA – Benefits of Condo Living

Many Americans dream of some day owning their own home. Similar to the effort needed to make any dream come true, being a Boston, MA homeowner takes a lot of work. Buying a home in Boston, MA means committing to making any repairs needed along the way, complete with a commitment to maintenance and landscaping chores as needed.
If these kinds of chores give you pause, why not consider living in a condominium instead? For some people, a condo purchase represents a stage prior to buying a traditional home; for others it is the best fit for their lives over the long term. Here are a few benefits to condo living in Boston, MA. 
 
Be Near the “Action”. The condominium market in the United States is growing in popularity. In bustling, artistic, urban settings condo life is ideal. Living in the midst of a city gives you access to public transportation and puts you within walking distance of shopping and dining. In a city like Boston, MA this means being in the beating heart of the city’s art, music, and entertainment 24/7. Even in areas outside the center of the city, many buyers enjoy the security – matched with the elimination of maintenance and yard work – that condos offer.

Community. The sense of community one gets from condo living attracts many buyers. Since all the residents have a vested interest in keeping the building clean, safe and quiet, condos are the ideal environment for people who value an extra level of protection and community spirit.

More Organized. Another advantage to condo life that might not occur to everyone is that condos typically have less square footage than similarly priced single family homes. For many condo buyers, this means making a commitment to using space wisely. For single family homeowners, it can be easy to fill room upon room of a house with items, including many that lack even sentimental value. Soon, you’re not even able to park your car in the garage anymore. But the compact coziness of some condos makes it imperative to budget your space in your Boston, MA home. When you’re not filling up empty rooms, you are bound to live a cleaner, more organized life.

Being a homeowner is a big decision. It’s also not for everyone. If you want fewer home maintenance tasks, or if you just prefer a simpler, more organized life, perhaps condo ownership is for you. If you are still searching for that perfect Boston, MA condo, let a local expert help you out. Buying a condominium is an exciting and complex adventure. I take pride in being a local expert and would love to help you get acquainted with our city. Contact a Boston, MA real estate agent when you are ready!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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Boston, MA – Summer Farmers Markets

It's that time of year that the farmers markets in Boston, MA are heading back outside and opening up for the Spring/Summer season. All around our beautiful city you can find farmers markets brimming with local, affordable produce, fish, meat, cheeses and other locally Boston-made small batch products like jams and jellies. I can't think of a better way to explore around our city than to visit these markets. Farmers markets are more than just a chance to grocery shop, they are also a great gathering space for the community to get together. Here are a few of the offerings Boston, MA has to offer.

Downtown

The Copley Square Farmers Market is one of the largest markets in Massachusetts. It's mission is to partner with farmers, consumers, and communities to foster, enhance, and sustain farmers markets in Massachusetts in order to improve regional farm viability, consumer nutrition, and community social and economic development. Along St. James Avenue, Dartmouth Street & Boylston Street through the end of November, Tuesdays and Fridays, 11am-6pm.

Jamaica Plain/Mission Hill

The Jamaica Plan Farmers Market is a small neighborhood market highlighting produce from Stillman's Farm and it will be opening up June 12^th and runs through November. It is held at the Bank of America parking lot on Centre Street Tuesday 12pm-5pm and Saturday 12pm-3pm. You can locally raised meats, bakery, and honey, in addition to the freshest produce.

Dorchester/Roxbury

The ReVision Urban Farm stand is a community-based urban agriculture project that grows produce in its own fields and provides access to affordable, nutritious and culturally appropriate food to residents of the ReVision Family Home and the extended community. Located at Blue Hill Avenue and Arbutus Street, Fridays 2pm-6pm starting July 10^th.

I hope you take the time to visit one or more of these markets and fill your pantry with locally grown, sustainable food. Should you have a question on a Boston, MA neighborhood such as South End, Fenway, Beacon Hill, or any other, please contact a Boston, MA real estate agent. I thoroughly enjoy getting prospective residents familiar with new neighborhoods and exposing them to the best of everything Boston has to offer. I hope to speak with you soon!

Lucas Garofalo

Keller Williams Realty

(617) 861-3631

Lucas@LucasBostonHomes.com

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