When does owning your home become cheaper than renting? There are plenty of pros and cons both ways but if we look at cost only, the gap continues to narrow, particuarly here in Boston, MA and North of Boston. Try this handy Rent Vs. Buy Calculator from Realtor.com to help you decide. Have questions about neighborhoods, schools, community services, home values, etc.? Speak with an experienced professional who knows the area! We do! 978-356-8922
North of Boston Real Estate
Cybercrime is posing a risk to an increasing number of real estate transactions, with home buyers’ down payment funds the main target of scammers. Thank you to REALTORmag for sharing this important information regarding our industry.
Criminals are targeting home buyers by sending emails that look like they might come from their real estate agent or attorney. The emails may contain signatures, fonts, and logos that are identical to the originals. The email then usually claims the plans for submitting the down payment have changed and provides new instructions to wire funds to an account. However, if buyers follow those new instructions, they often lose their funds forever.
Hackers go undetected, stealing your identity, gaining access to your accounts, creating emails and web landing pages seemingly authentic enough to fool even the most vigilant.
We always warn clients of this potential for fraud when wiring funds and alert them that any email communications regarding funds, wire transfers, etc. would absolutely be fraudulent.
Keep an eye on changes to email addresses. The hackers are clever. Look for slight variations like firstname.lastname@example.org being changed to email@example.com or firstname.lastname@example.org, etc.
Ask any active home buyer what today's north-of-Boston real estate market is like and I guarantee you will hear some tales of woe; open houses akin to Grand Central Station, bidding wars and rejected offers (depsite the most romantic real estate love letter). It looks like Fairway Mortgage has created something new to give you a leg up. Check out Fairway's 3-2-1 Go Program; it might give you the green light you've been waiting for.
Answers. It's what we all want. But nobody has them, and anyone claiming they do, well, I recommend a fact check. None of us here at Windhil have that elusive crystal ball and no, we can't make you any promises about the future. But what I can tell you is that here in the northeast, north of Boston, on the northshore in particular, what we are seeing right now is serious pent-up demand for inventory and every listing we take has a long line of ready, willing and able buyers. These homes, if priced properly, are going under contract with multiple offers, sometimes over asking and because our network of professionals including lenders, inspectors, attorneys, etc. are now well-versed in the new way of doing business, the closings are happening efficiently and on time. The closings might be curbside but the smiles are still there.
Predictions point to a delay in inventory that will inevitably explode so if you're thinking of selling but the path is unclear, ask for help, get some sound advice, educate yourself about the new process. Lack of inventory is to your advantage, while it lasts.
The Massachusetts Real Estate Market is Down But Not Out! Great article thank you to WGBH.