Miro's Blog

Boston Area Schools: A Great Place for Families

Miro Fitkova (Fitkova Realty Group) — Tue, 08 Sep 2009 17:35:02 -0500

Fall is in the air, which means back-to-school time for many Boston families. This time of the year always gets me thinking about the many wonderful educational opportunities available in the Boston area. Besides all of the wonderful colleges and universities in the city, our primary and secondary schools are at the top of the list too. Check out Boston Magazine's ranking of public and private Boston-area high schools.

The U.S. News and World Report's "Best High Schools: State-by-State Statistics" posted on December 4, 2008, ranks Massachusetts schools #1! 13% of the 338 high schools were awarded a bronze, silver or gold metal by the prestigious reporting agency. That's great news for parents and future parents who live in the state!

While Massachusetts' schools in general get high ranks, there are certainly exceptions. I always like to point parents to a useful website called www.GreatSchools.net when it comes to researching and comparing school districts and individual schools. It is such a great tool for families looking to relocate to new Boston real estate. You can read personal reviews from parents, similar to Yelp.com, as well as official school scores and data. Additionally, you can see rankings of different school districts in the Boston area, which can help you narrow your housing search in the beginning stages.

Some of the highest-ranking school districts in the Boston-metro area, based on test scores, are Newton, Brookline, Chestnut Hill, and Milton. Districts Cambridge and Medford rank above average, and finally Boston's public school district ranked in the average range.

Of course, experienced real estate agents also know which Boston neighborhoods are districted to the best schools. If you are thinking of moving soon and know that school districts are a top priority for your family, contact me today for a free consultation.

VA Loans and foreclosures

Miro Fitkova (Fitkova Realty Group) — Mon, 31 Aug 2009 12:49:30 -0500

The Veterans Administration provides military members and their families with one of the most flexible and low-cost home loans on the market. VA home loans have helped thousands of veterans achieve the dream of homeownership.

But the VA also offers veterans significant refinancing opportunities, including for those who have conventional mortgages.

The VA's <a href="http://www.vamortgagecenter.com/faqs_refinance.htm">Interest Rate Reduction Refinancing Loan</a> is for veterans with an existing VA loan. Qualified borrowers can utilize the refinancing program (also called a VA Streamline) without paying a dollar out of pocket. There are no appraisals, underwriting packages of eligibility certificates necessary.

That flexibility allows veterans to explore a money-saving refinance without gathering years of financial paperwork, which can easily get misplaced over time.

Borrowers can roll closing costs and other expenses into their new loan, or interest rates can shift to help make sure additional costs are covered. The program also allows a borrower to include up to $6,000 for energy efficiency improvements in the Streamline loan.

To be eligible for a <a href="http://www.vamortgagecenter.com/refinance.htm">VA Streamline</a>, veterans must first be current on their mortgage. They also cannot have made more than one 30-day late payment on their mortgage in the previous 12 months. Veterans with less than perfect credit can still qualify for a VA Streamline.

Borrowers can't get cash from a Streamline. They are on the hook for a VA funding fee, which is typically one-half of 1 percent.

Any lender can provide a VA Streamline. The Veterans Administration encourages veterans to talk with multiple lenders, as rates and loan terms can vary by lending institution.

The VA can also help veterans who used a conventional loan to purchase their home. Qualified borrowers can refinance up to 100 percent of its appraised value.

Spotlight Property: FP3 Condos in the Seaport District

Miro Fitkova (Fitkova Realty Group) — Mon, 24 Aug 2009 12:44:51 -0500

As construction finished last year on the FP3 development, luxury lofts constructed from three neighboring Seaport District warehouses, units were expected to fly off the market. With famous restaurateur Barbara Lynch opening her most recent concepts: Sportello and Drink, on the ground floor of FP3, the lofts received a lot of media attention. However, with the difficult market throughout the Fort Point Channel neighborhood and the rest of the nation, the new development has been slow to fill.

However, this summer the development has seen an increase in sales. This may be attributed in part to more affordable sale prices. The average sale price of units sold this summer is $455,547, at an average of $472 per square foot.

With more affordable prices, now is the time to think about investing in this glamorous Seaport District development. FP3 condos feature

· 92 residential loft-style condos (studios, one-bedrooms, and two-bedrooms)

· Sleek, modern design

· Green features

· Great location-close to the Financial District, the red line and fabulous restaurants

· Guaranteed rights to lease parking at the Stillings Street Garage

· Private outdoor space in some condo units

· A large variety of floor plans

· Hardwood flooring

· Kitchens by Arclinea, all featuring a package of stainless steel appliances

· Stunning lobby and private function space

· Laundry hookups in unit

· Shared roof terrace

· Concierge service

· Pet-friendly environment

• A full list of features can be seen at www.fp3boston.com

As the Seaport District and Fort Point Channel have undergone their revitalization, I know that many of you have had an eye on the luxury Boston condos located in this area. With FP3 being one of the high-end options, now is the time to buy. I can help you with special financing and down payment options. If you've been thinking about looking at a space at the FP3, let me know!

Cash-to-Close and Cash-to-Fix: Take Advantage of This Free Money from the City of Boston

Miro Fitkova (Fitkova Realty Group) — Mon, 24 Aug 2009 12:43:57 -0500

The city has several assistance programs that come in the form of no-interest, conditional loans that are forgiven after 10 years (15 years for some Cash-to-Fix recipients). The Cash-to-Close and Cash-to-Close LIMITED programs can help you accumulate the money you need for closing costs and for a down payment. Cash-to-Close is for first-time homebuyers and the LIMITED program is for buyers of foreclosed properties in designated areas. The Cash-to-Fix program is designed to help buyers of foreclosed homes with essential repairs.

Cash-to-Close
This program is designed to give first-time homebuyers who meet certain criteria money toward a down payment and closing costs. Homebuyers can receive between $1,000 and 3% of the total purchase price.

Overview of Criteria for Cash-to-Close:

· Income cannot exceed 120% of Area Median Income as determined annually by the U.S. Department of Housing and Urban Development (HUD).

· Must graduate from Homebuyer 101 (a FREE, 8-hour class).

· Contribute at least 1.5% of funds toward purchase price.

· Must use home as primary residence for 10 years to receive full loan forgiveness.

• Eligible homes include Boston condos, single-family, two-family, and three-family homes.

Cash-to-Close LIMITED
This program is designed help with the purchase price of foreclosed Boston real estate in certain designated areas. Eligible participants will receive either $15,000 or $25,000 (depending on designation of area). Visit this page for more details and to see a map of eligible areas.

Overview of Criteria for Cash-to-Close LIMITED:

· Cannot own any other property.

· Income cannot exceed 120% of Area Median Income as determined annually by the U.S. Department of Housing and Urban Development (HUD).

· Must graduate from Homebuyer 101 (a FREE, 8-hour class).

· Contribute at least 1.5% of funds toward purchase price.

· Must use home as primary residence for 10 years to receive full loan forgiveness.

• Eligible homes include foreclosed condos, single-family, two-family, and three-family homes in the city's NSP area and three FIT areas (parts of East Boston, Dorchester, Mattapan, Roxbury, and Hyde Park.)

Cash-to-Fix
This program provides funds, up to $50,000, to homebuyers that purchase foreclosed homes in need of rehab (repairs for safety and health).

Overview of Criteria for Cash-to-Close LIMITED:

· Cannot own any other property.

· Income cannot exceed 120% of Area Median Income as determined annually by the U.S. Department of Housing and Urban Development (HUD).

· Must graduate from Homebuyer 101 (a FREE, 8-hour class).

· Must complete the Homebuyer 102 course within one year.

· Contribute at least 3% of funds toward purchase price.

· Must use home as primary residence for 10 years to receive full loan forgiveness.

· Eligible homes include foreclosed single-family, two-family, and three-family homes as well as 1-6 family condos in the city's NSP area and three FIT areas (parts of East Boston, Dorchester, Mattapan, Roxbury, and Hyde Park.)

• Properties must require between $10,000 and $60,000 in repairs.

The city of Boston has many wonderful programs available to help homebuyers. That is why it is so important to work with an experienced Boston real estate agent that can evaluate your situation and suggest appropriate programs that can save you money. If you are thinking about purchasing Boston real estate, I'd love the opportunity to discuss your options and different programs you may be able to take advantage of.

How to Stage Your Home Yourself

Miro Fitkova (Fitkova Realty Group) — Mon, 20 Jul 2009 09:02:27 -0500

Selling Boston real estate, or real estate anywhere in the U.S., right now can be a daunting task. But properly staging your home can increase your chance at a swift sale. You may be thinking that your home is already nicely decorated, but "decorating" your home focuses on your personal choices and personality. Whereas staging your home focuses on buyers and how you can help potential buyers envision themselves living in the home or condo for sale.

Steps to Staging Your Home

· Pack away any mementos, photos of family and friends, children's artwork, to-do lists, and basically anything that would remind the potential buyer that someone else lives in the home.

· Eliminate odors. Smell is a huge factor for buyers. And the tough part is that homeowners may be accustomed to certain smells-like pet odor or smoke. If in doubt, have a friend do a smell test for you. Don't cover odors with air fresheners or by baking cookies, instead do a thorough cleaning, steam clean carpets if necessary, and have air vents cleaned. Also, remember to not cook pungent dishes right before a scheduled showing.

· Pack away the clutter! This a hard step but one of the most important. Part of the difficulty, besides the time investment, is the fact that many people have trouble being objective when evaluating their own homes. Even if your decorating style includes many decorative pieces on mantles, side tables and bookshelves, go through and minimize-it will make your home look larger.

· Now that the clutter is packed, make sure it has a place to go. If you have an attic or basement, place neatly packed boxes in these areas-if not, investing in a storage space for a few months is a great way to go. (Placing boxes in the top of your closet will make your closet look smaller.)

· Think about your lighting situation. Dark rooms appear smaller. But rooms that are too bright or use florescent lights can be off-putting as well. Consider using "daylight' bulbs to create an open, airy feeling. Right before a showing, open windows and/or turn on lights.

• Treat your walls to a fresh coat of neutral paint. Color walls are popular right now, but neutrals may be a safer way to go. And a fresh coat will make any room look newer and cleaner.

The main thing to strive for is creating a clean, open, inviting space that a potential buyer can imagine moving into. Your real estate agent should be able to give you specific advice as it pertains to your particular home for sale. If you are looking for a Boston real estate agent with staging know-how, give me a call!

The Epitome of Boston High End Condos— The Residences at Mandarin Oriental Boston

Miro Fitkova (Fitkova Realty Group) — Mon, 06 Jul 2009 10:02:02 -0500

Those in the Boston real estate market who are looking for true luxury living simply must take a look at the available units in Residences at Mandarin Oriental. You may recognize the Mandarin Oriental name because of the high-end hotel chain. But did you know that in the heart of Boston's Back Bay, right above the five-star hotel, are 50 stunning condos? The unique thing about these luxury Boston condos is the fact that residents can be pampered just like hotel patrons are-as if everyday were a holiday!

The hotel has an in-house chef and room service, spa services, a concierge, and dry cleaning services delivered to your door-that means that Mandarin Oriental residents have all the same amenities! Here are the highlights of the amenities list:

· 16,000 square foot spa/gym

· A state-of-the-art vitality pool

· At least 1 garage (valet optional) parking space

· In-building fine dining restaurants and high end retail

• In-condo spa treatments, concierge services, room service, and dry cleaning

Of course the units themselves are breathtaking. Featuring floor to ceiling windows, private roof gardens, balconies that overlook the city, marble entry foyers, sleek kitchens, and 10+ foot ceilings, you've got to see them in person!

As I mentioned in my May 1st blog, high-end luxury homes held their value for a long time in the down-turn, but now is the time to take advantage of prices that have finally come down. For a long time, these types of units would end up in bidding wars, driving prices skyward, but recently a 2-bedroom/2.5 bath unit at the Mandarin Oriental went for over $700,000 under the $2.5 million asking price. If you'd like to learn more about the available units at the Residences at Mandarin Oriental, contact me directly!

Boston in the Summer: Our Top Picks

Miro Fitkova (Fitkova Realty Group) — Thu, 25 Jun 2009 15:17:03 -0500

If you are thinking about relocating and purchasing Boston area real estate, summer is one of the best times of the year to visit and explore the city. At Fitkova Realty Group, we've created a list of our favorite summer activities-great for visitors and natives alike!

Whale Watching: Just one of the many advantages to living next to the ocean is being able to hop on a boat and go whale watching. Take a guided tour with Boston Harbor Cruises, and you'll hear narration from professional researchers from the Whale Center of New England. It's a fun day of sun, ocean breezes and stunning marine life!

Free Movies and Music at the Hatch Shell: Beginning June 19th, Fridays equal free flicks at the Hatch Shell-an outdoor venue along the Charles River. You can catch an array of family-friendly shows this year like Kung-Fu Panda, Get Smart, Mamma Mia and many more. View the schedule here.

At the same venue, Oldies 103 sponsors three big outdoor concerts that feature Three Dog Night, The Temptations, and The Beach Boys. Learn more about this concert series here. And every Wednesday night there is a classical concert by Landmarks Orchestra that starts at 7 p.m. Take a picnic dinner and enjoy!

Boston Harbor Hotel Weekly Events: One of Boston's most beautiful harbor-side hotels hosts an array of free events throughout the summer: Summer Soul every Tuesday, Timeless Tunes every Wednesday, Blues Barge every Thursday, and Movies by Moonlight every Friday. Learn more and download their brochure here.

Behind the Scenes of Fenway Park: Enjoy the summer weather during a guided tour of the historical baseball park that is home to the Red Sox! Learn more here.

Shakespeare in the Park: Each summer the Citi Performing Arts Center puts on a series of free performances of a famous Shakespearean play. This year's pick: Twelfth Night. Bring a blanket and picnic dinner to Parkman Bandstand on Boston Common for a night of entertainment and culture! Performances run from June 10 - July 12. Visit the Shakespeare in the Park website for more information.

North End Feast Days: In the historic North End, the Catholic Feast Days are still celebrated by the large Italian population along with visitors from throughout the area. Enjoy processions, music, food and other festivities. North End condo owners enjoy festive weekends all summer long-one of the many attributes of the popular neighborhood!

There are so many outdoor events in this beautiful city-many of them completely free! During your visit to Boston, we can also schedule viewings of real estate for sale in the Boston area-from North End real estate to South End real estate and everything in between!

Does Your Dream Condo Have Enough Reserves? Avoiding the Dreaded Special Assessment

Miro Fitkova (Fitkova Realty Group) — Thu, 25 Jun 2009 15:15:52 -0500

As buyers compare their condo options, the monthly condo fee is almost always a consideration, but unfortunately, the scrutiny often stops there. It is imperative that potential condo buyers take a look at the condo association's financial stability as well.

If an association runs out of money for necessary repairs or services, they may go into debt, which becomes the responsibility of the residents. When this happens, a "special assessment" generally occurs, which means that all the residents must pay into the association, beyond their normal monthly dues, to regain financial stability. Of course a majority vote is needed to initiate a special assessment-but many times this is the only sensible course of action.

If a vote goes through to collect a special assessment, condo owners are required to come up with the sum. And if an owner refuses to pay, the association can place a lien on the unit and even foreclose on it. Many associations won't go this far, but then necessary services like snow removal (essential for real estate in Boston) or landscaping may end up being neglected for long periods of time-and property values can drop sharply.

A savvy condo buyer can avoid all of this. When one of my clients becomes very interested in a condominium unit, I help them review the financial status of the association and connect with key players on the board. If you are thinking of making a Boston area condo your new home, I can help you make smart choices.

Home Inspection: Knowing Can Make All the Difference

Miro Fitkova (Fitkova Realty Group) — Mon, 01 Jun 2009 09:32:16 -0500

Having your potential new home inspected by a professional is one of the smartest moves you can make as a homebuyer. This especially holds true in a city like Boston; it's not surprising to buy a home 20, 50 or even 100 years old. These days practically all contracts have a clause that makes the final sale contingent on acceptable results of an inspection, so buyers can cancel the purchase or renegotiate the offer if serious problems are found. In Massachusetts all homebuyers legally have the right to have a lead paint inspection preformed within ten days of an accepted offer.

What Will an Inspector Do?
As a general rule, inspectors do not take things apart. Instead they visually inspect aspects of a home to determine if anything needs to be replaced immediately or in the near future. Most importantly, an inspector is independent from both the buyer and the seller (and their representatives)-this means that he/she receives payment whether the home is sold or not.

Generally an inspector will review the following:

· Exterior of the Home: walls, decks/patios, roofs, chimneys, and gutters.

· Interior of the Home: floors, ceilings, walls, windows, doors, plumbing, water temperatures, appliances, and electrical systems.

· Heating and Cooling Systems.

· The Top and Bottom: attic, crawl spaces, basements, and foundations.

· Pest Infestations: ants, termites, mice, etc.

· Radon Levels.

· Condominium Common Areas: roofs, hallways, boilers, and other factors that could affect the reserve of the condo association.

Note: Each inspector is a little different. Make sure you ask for a list of what your potential inspector will review. If you have a specialty feature, like a swimming pool, your inspector may recommend that you bring in an additional specialty inspector.

When my clients are nearing the final negotiation stages on a home purchase, I have a handful of reputable inspectors that I recommend, depending on the type of property. Relative to the price of repairs, the fee an inspector charges is quite affordable. If you are thinking of buying a Boston home and want to ensure that things go smoothly, contact me directly.

Bottom Line: Always bring in a professional inspector and make sure that your contract has a clause that allows cancellation or renegotiation if a negative inspection report is presented.

Looking for a virtual real estate lead co-coordinator familiar with Boston

Miro Fitkova (Fitkova Realty Group) — Sat, 23 May 2009 16:01:55 -0500

Looking for a virtual real estate lead co-coordinator familiar with Boston

Will work from home, flexible schedule about 10 hours a week. Will need to follow up with internet leads, call them and enter into database and cultivate until they are ready to purchase. Should be familiar with Boston and real estate field. Any suggestions or inquiries would be strongly appreciated.

Optimal Time to Purchase In-Town Boston Property—Especially for First-Time Buyers!

Miro Fitkova (Fitkova Realty Group) — Thu, 07 May 2009 12:27:11 -0500

In previous blog entries, I’ve talked about the fact that luxury, in-town properties have continued to hold their value while homes in surrounding areas lose theirs, but now Boston’s downtown homes are beginning to catch up (or fall behind depending on how you think about it.) While this is bad news for current owners, it opens up new opportunities for those who have been on the verge of buying a property in the city. With spring in the air and prices of in-town properties finally falling, now is the optimal time to start looking. According to the latest reports, the very highest priced and most desirable units are still holding their value, but there are plenty of luxury options out there. By luxury, I’m talking about condos and houses located in high-end neighborhoods like Back Bay, North End, Beacon Hill, or South End that are priced in the $650,00-$800,000 range, perhaps offering amenities like concierge services or on-site gyms. This presents an opportunity for any buyer looking for a luxury property in the city, but the time is especially ripe for first-time buyers. Throughout 2009 first-time homebuyers can take advantage of an $8,000 tax credit—and unlike last-year’s tax credit, buyers do not have to pay this back. It is the equivalent of cash-in-pocket! While there are income limits attached to the credit stipulations, many homebuyers looking at smaller luxury condo units will still be eligible. Because Boston has traditionally been a competitive market, this window of time may be limited. These coveted properties were some of the last to drop in price and will certainly be some of the first to regain their values. If you are interested in looking at the options out there or learning more about the 2009 First-Time Home Buyer Tax Credit, I’d be happy to meet with you—just contact my office.

Affordable Housing Planned in Upscale Concord, Massachusetts

Miro Fitkova (Fitkova Realty Group) — Mon, 20 Apr 2009 09:46:29 -0500

If you've always dreamed of living in the fashionable town of Concord, Massachusetts-home of Henry David Thoreau's Walden Woods, beautiful homes and top-notch schools-then you may be in luck. Early plans indicate that the Concord Housing Development Corporation will purchase several acres of land to be developed into twenty affordable condo units.

The location of the proposed condos will be off Commonwealth Avenue, within walking distance of the commuter rail and many shops. The Concord Housing Development Corporation will be purchasing ten acres of unused land from the Department of Correction, keeping costs fair and utilizing land that the state is not currently using.

In order to keep up with the influx of new residents that the proposed condo development and a new 350-unit apartment building will bring in, the city has plans to redesign the Route 2 rotary and the Bruce Freeman Rail Trail.

While the plans are still in the early stages, this is certainly a great opportunity to keep your eye on if you are thinking of buying in Concord in the next few years.

Unique Luxury Condo Auction This Weekend—April 4th—Deep Discounts

Miro Fitkova (Fitkova Realty Group) — Thu, 02 Apr 2009 13:45:34 -0500

If you've been thinking about investing in a condo in the Brookline area, an interesting opportunity is available: an auction that has the potential to save you a significant amount of money.

Longwood Towers, luxury condominiums with both old-world charm and modern appeal, will be auctioning off a portion of their units in an effort to spur interest in those who have been sitting on the sidelines waiting to buy.

The starting bids for some units will reportedly be up to 59% of the original asking prices. For example, minimum bids start at $199,000 for studio apartments, $335,000 for two-bedroom units, and $860,000 for three-bedroom units.

Amenities Include

· Valet Parking

· Access to the Gym

· 24/7 Concierge Services

· Beautifully Landscaped Grounds

• Access to the Green T Line and the rest of Boston (this development is located in Brookline, near Longwood Medical Center)

The Details:
Saturday, April 4th
Westin Copley Place
Check-in begins at 12p.m.
Auction begins promptly at 1p.m.
http://www.longwoodcondominiums.com/

Auctions can be exciting, but they can also high-pressure, extremely fast-paced events. If you are considering going to this auction, give me a call. I'll be by your side during the bidding process and then to review and explain all the paperwork and legalities. The event is this weekend, so don't wait to call! (617) 232-3220

Investing in Green Real Estate—Giving Back to the Earth and Your Pocketbook

Miro Fitkova (Fitkova Realty Group) — Wed, 25 Mar 2009 19:14:21 -0500

Building or remodeling your home or commercial building to be green can be a bit of an initial investment, but did you know that it has the potential to save you money in the long run-and make your building more desirable for resale or future leasing?

The typical added cost of constructing a green building (as defined by the U.S. Green Building Council) can range from 1 to 16%; however, the added value comes when you factor in the less expensive mechanical systems that cost 20 to 40% less to operate. This can decrease the long-term monthly costs for business operation or for overhead costs when leasing a building.

The key is to keep the cost-benefit relationship in mind from the beginning and to realize that some plans will take longer or cost more than a traditional construction project. Start by assembling a team that includes designers, engineers, contractors, and real estate professionals who are educated and experienced with green building; they will be able to guide you through the process and work together toward a common goal.

What does it mean to be green?

When building green, the aim is to minimize the use of energy, water and space, to use earth-friendly building materials, to recycle resources and waste, and to provide access to public transportation when possible. In the same way that green builders strive to minimize consumption, they also try to maximize naturally available resources such as sunlight and fresh air. To be deemed "officially green," you can register your building with the U.S. Green Building Council, a nonprofit advocacy group.

Start building your green team!

If you are a developer thinking about constructing a green building, I can help. From finding the perfect property to assembling a team of professionals to advertising for presales, I will get your green building noticed. Contact me today to learn more about the advantages of going green and to discuss your real estate possibilities!

Foreclosure: How It Works in Massachusetts and How You Can Avoid It

Miro Fitkova (Fitkova Realty Group) — Wed, 04 Mar 2009 12:57:31 -0600

The foreclosure process is difficult, painful and bad for your credit. With the difficult economy and high unemployment rates, many people need to look at their options-before it is too late.

The Foreclosure Process

Before an official foreclosure sale can occur in Massachusetts, a ruling from the land court is required. If the home owner is an active member in the military, then his or her home may be protected under the Soldiers' & Sailors' Civil Relief Act, and the foreclosure may be postponed. However, once the land court makes a judgment authorizing the foreclosure, the lender may begin the sale process.

Before the day of the sale, the lender will run notices in a local newspaper-once per week for three weeks. These notices must run no less than 21 days before the sale date. Additionally, the lender must send the borrower and other affected parties a notice of sale at least 14 days before the sale date.

On the day of the sale, a licensed auctioneer will sell the property to the winning bidder. The winner will pay a deposit that day and will then pay the remaining balance within 30 days. Once the remaining funds are paid in full, within the 30 days, the official sale is recorded and the winning bidder becomes the new owner. If the property sells for a higher price than the amount owed, then the borrower will receive the surplus funds.

How to Avoid Foreclosure

One of the best ways to avoid foreclosure is to talk to your lender and try to at least make partial payments to temporarily delay foreclosure. In the mean time, you should consider listing your home for sale in order to pay off your debt and find a more affordable option. You can also ask about the possibility of a short sale. . . .

How a Short Sale Works
If you need to sell your home quickly to avoid foreclosure but cannot sell for the full amount that you still owe on the property, you may be able to negotiate a short sale with your lender. In recent years, most major lenders have restructured their business models so that they can take on more short sales. This means that the lender will accept a lower payoff amount in order to avoid foreclosure or dealing with a borrower who files bankruptcy. Selling your home in a short sale is much better for your credit than filing bankruptcy or going through a foreclosure.

A short sale is certainly more complicated than a typical home sale, which is why you need an experienced real estate professional at your side. If you need to sell your home to avoid foreclosure, contact me today to discuss your options.

Your New Construction May Be at a Higher Risk for Growing Mold

Miro Fitkova (Fitkova Realty Group) — Tue, 17 Feb 2009 21:17:07 -0600

There are so many pros when it comes to buying a newly constructed home or condo-modern appliances, choosing your own colors, structural integrity-but there is one con that you may not be aware of. Because most new buildings are made primarily with products like drywall and particle board, rather than brick, concrete and plaster (like most older homes), they are more likely to grow mold. And mold can more than just a nuisance, it can be hazardous to your health.

Another contributing factor is that new homes are sealed much better. That is a pro because it means more efficiency with heat and energy, but it also means that moisture is easily trapped inside-mold loves moisture.

If you are a new homeowner in this position or thinking about buying a new home, you are probably wondering, "Will my insurance cover mold damage?" The answer really depends. Everything in your new home should be covered by your builder's warranty. But that "everything" has to be on the paper; unless it is in writing, you don't have a legal right.

How to Prevent Mold

Whether you have a new home or and older home that is prone to mold, always keep in mind that MOLD LOVES MOISTURE.

· Keep all surfaces dry.

· Wipe up all spills.

· Store clothes dry and do not leave in the washing machine.

· Make sure your dryer is vented outside so that moisture does not accumulate.

· Use ventilation fans in kitchens and bathrooms.

• Wipe down shower curtains after showers and use a dehumidifier in damp rooms.

What to Do If You Find Mold
Mold can cause flu-like or allergy-like symptoms. Extreme cases of toxic mold can be very dangerous for people with weekend immune system and infants when they inhale spores. If you smell a musty odor or actually see mold, it is time to take action.

If only a small patch of mold is visible in a particular part of your home, and you wear protective gloves, goggles, and a respirator, you can remove the mold yourself. Make sure that mold spores don't spread by sealing mold in plastic bags. Then deal then with the problem that caused the access: excessive moisture.

However, if the mold is on more then 10 square feet of your home, you need to call a professional. Make sure the individual you call is mold certified, in business at least 2-3 years, and has references and workers liability compensation.

Having mold removed by a professional can be quite expensive, but necessary for your health!

Bottom Line: If you are buying a new home, make sure that mold is included in your warranty. I can help you, as a potential home buyer, ensure that you are covered for mold damage. Once you move in, remember to keep excess moisture out of your home-just being aware is half the battle!

Full-Service for Condo Developers: Analysis, Sales, and Marketing

Miro Fitkova (Fitkova Realty Group) — Mon, 09 Feb 2009 10:23:01 -0600

2008 was a fantastic year for Fitkova Realty Group. We've been growing, adding more employees and making clients extremely happy!

Many people think of us as primarily dealing with private home sales, but what they don't realize is that we also work directly with developers. That means that our home buying clients have access to new constructions and that developers can benefit from our full-service sales and marketing plan.

What Fitkova Realty Can Do for Developers
First, we meet with you and analyze your situation as it pertains to the market and your geographic location. Then, using that information, we develop a marketing and sales plan, which will be carried out by our innovative, proven sales and marketing teams. Your plan might include:

· A Pre-Sales Plan (If applicable-to add extra capital to finance the building costs)

· Listings on Top-Ranked Services

· A Website for Your Property-Developed by the Fitkova Realty Team

· Listing on Our Own Highly Ranked Website

· Project Management of All Advertising Initiatives

· Property Showings or Lead Direction to Your In House Team

· Timely and Efficient Closings

Our intimate boutique setting tends to put buyers at ease and appeals to the high-end buyer.

For us, the most important factor to any sales project is that the clients (developers and buyers) are happy with their transaction. That means we look for the right fit every time. And we've found that approach means we have extremely loyal clients who become customers for life (or as long as they live in the Boston area.)!

Lead and Real Estate: What You Need to Know

Miro Fitkova (Fitkova Realty Group) — Tue, 20 Jan 2009 09:04:44 -0600

Boston is filled with beautiful, historical homes, but the down side is that many of those homes put us at risk for lead poisoning-here's what you should know as a home owner.

The Basics
While lead exposure has the greatest risks for children under seven years old, possibly causing damage to the brain and nervous system, behavior and learning problems, slowed growth, hearing problems and headaches, it can also have adverse effects on adults. If you live in a home or are thinking of buying a home built before 1978, there is a good chance that lead is present in the paint.

You should have this verified by a professional, especially if you have children or plan to start a family. Note: If you have been living in a dwelling where lead is present, you and your children can have a simple test to determine the levels present in your body.

What To Do
De-leading a home is an involved process, but one with options. First, as mentioned earlier, have a professional lead inspector determine where lead is present and whether the levels are legally "high risk," "moderate," or "low risk." Then you can either bring in a professional to de-lead your home and repaint (a great excuse to paint your walls all the colors you always wanted) or you can learn how to do it yourself-but only if your home falls in the moderate or low risk categories. Some paint inspection companies like Panther, (800) 332-LEAD, offer classes for homeowners who want to learn how.

Financial Help for Deleading Your Home
Homeowners are eligible for financial incentives to de-lead their homes. For example, the Massachusetts Deleading Tax Credit provides up to $1,500 and the "Get the Lead Out" program provides low-interest financing for deleading-some homeowners even qualifying for 0% and deferment until the home is sold or refinanced.

Whether you live in an older home or are thinking of buying one, the most important thing is to be aware of the dangers of lead and to know your options.

Next Time: Older homes expose you to the risk of lead poisoning, but did you know that new constructions are more likely to have mold problems? Next time, I'll discuss mold in homes and what you can do about it.

Winter in Boston: Making Magical Memories

Miro Fitkova (Fitkova Realty Group) — Mon, 05 Jan 2009 09:23:00 -0600

There is something enchanting about the city of Boston in the winter: the crisp air, the white snow, the pedestrians' colorful scarves, gloves and hats. Sometimes it seems easier to just hole-up inside and wait for warmer weather to return, but if you dress for winter weather and explore the city, you'll gain a whole new set of glorious winter memories this year!

Winter Fun in Boston:

1. Ice Skate on the Frog Pond. In the beautiful Boston Common, you can rent ice skates and time on the rink (the frozen frog pond). It's great exercise and a fun activity for friends, families, or couples.
2. Start a Snowball fight in the Boston Common. When there is a fresh layer of snow on the ground, head over to the largest, most majestic park in Boston and play as if you were a kid again-just don't hit anyone who is not in your party!
3. Widow Shop along Newbury Street. Stroll along one of the most beautiful streets in Boston, gazing at some of the most beautiful store windows on a crisp winter evening. Then duck into a warm restaurant or bar to warm up.
4. Sit by the Fire at Stephanie's on Newbury Street. Speaking of a warm restaurant on Newbury Street, we like Stephanie's with its inviting fireplace and welcoming décor.
5. Browse at the Harvard Bookstore while Sipping Hot Coffee-warm and relaxing!
6. Stop in for a Hot Toddy. Try the Alchemist Lounge in Jamaica Plain or Eastern Standard in Kenmore Square.
7. Walk along the Commonwealth Avenue Mall. This long park runs between the beautiful residential buildings on Commonwealth Ave. In the winter, long rows of trees are decorated with sparkling white lights-truly enchanting.
8. Take Part in First Night Celebration. Boston's spectacular welcoming of the New Year includes a whole day and night of festivities. This year includes ice sculptures, fireworks, live music, family entertainment, a Mardi Gras-style parade, comedy performances, dancing and more!

So look out for that next snowfall, gear up, and go enjoy the beautiful city of Boston in all its winter delight!

Local Businesses We Love

Miro Fitkova (Fitkova Realty Group) — Sat, 20 Dec 2008 13:13:19 -0600

Boston is a fabulous city, filled with excellent entertainment, services, and shopping. But if you're a newcomer to the city, it can be a bit overwhelming. That's why we've made a list of all our favorite places to go in the city.

Sushi Restaurants We Love : Boston is known for its fresh seafood-as a result, there is no shortage of wonderful, fresh sushi restaurants throughout the city. Our top picks include Oishii at Chestnut Hill, Fugakyoku in Coolidge Corner, Super Fusion , Shabu Zen , and Legal Seafoods

The Pilates Studio We Love : When you want to "firm your body, and clear your mind," Studio Elle in Brookline is the place to visit. They offer private and small group classes by appointment.

The Jazz Bar We Love : Sculler Jazz Club hosts some of the best names in the music biz. Past performers include Harry Connick Jr., Chris Botti, Jamie Cullam, David Sanborn, Michael Bublé, Arturo Sandoval, Tony Bennett, Wynton Marsalis and Dave Koz to name a few.

The Nail Salon We Love : Awesome Tan in Coolidge Corner has some of the best prices in town for manicures, pedicures, facials and waxing services.

The Movie Theater We Love : With huge theater rooms, comfy seats, and a superior sound system, Loews Theatre at Boston Commons can't be beat!

The Hairstylist and Colorist We Love : Wayne, Wayne, Wayne! Visit Dellaria Salon on Commonwealth Avenue in Boston and ask for Wayne!

The Eyebrow and Waxing Specialist We Love : After getting a cut and color from Wayne at Dellaria Salon on Commonwealth Avenue, ask for waxing extraordinaire Vicki at the same location.

The Massage Therapist We Love : Whether you need to relax your muscles after a tough week at the office or after a big athletic competition, Sarah at Back Bay Massage is our top pick for Boston area masseuses.

The Acupuncturist We Love : To relieve your ailments, acupuncturist Jelena Lebedinsky in Brighton is our go-to gal. She can be reached at 617-640-4282.

The Shoe Store We Love : Footstock on Newbury Street is about more than just style. This European shoe store focuses on shoes that combine comfort and style-an essential for residents of America's Walking City!

The Grocery Delivery Service We Love : Save precious time by having your groceries delivered right to your door! Peapod (in conjunction with Stop and Shop) serves the entire Boston area.

The Shopping We Love : There's nothing like walking around with a Little Brown Bag filled with posh goodies. To get yours in the Boston area, visit the Bloomingdales at Chestnut Hill. We also love Saks in Copley Square.

We invite you to share your favorite local business in the comments section. Happy Holidays to everyone!

Property Investors: Are You Taking Advantage of the 1031 Exchange?

Miro Fitkova (Fitkova Realty Group) — Tue, 02 Dec 2008 21:53:24 -0600

If you are a property investor who wishes to sell one property and buy a new one, you can avoid paying the capital gains tax on the property you are selling through the 1031 exchange. This can be a huge savings: between federal and state, capital gains taxes can eat up 20-30% of your sale price. But the government wants to encourage investors to continue investing and providing rentals to communities, so they supply this loophole that keeps investors from losing money.

Basically, anything sold is subject to taxes. That's why the 1031 exchange is referred to as an exchange and requires an intermediary. If the money goes through your hands, then it becomes taxable. Hiring an intermediary will cost you, on average, between $1,000 and $2,000. Due to the highly technical process, hiring a qualified, experienced intermediary is essential.

You must move fairly quickly when using the 1031 exchange, which is why working with a real estate agent who is familiar with both investment properties and the 1031 exchange is so important. Within 45 days from the day of selling the first property, the seller must identify the property or multiple properties that he or she wishes to buy. Then, within 180 days or by the date the buyer/seller's tax return is due, whichever comes sooner, the buyer/seller must receive the replacement property. Additionally, the new property should be equal or greater in value to avoid paying any capital gains taxes; if the new property has a lesser value, then the remaining capital is taxable.

If you are looking into "exchanging" your old rental property for a new one, take a look at some of the investment properties currently on the market on my website, or you can contact me for a comprehensive, customized search.

Boston Neighborhoods

Miro Fitkova (Fitkova Realty Group) — Sat, 22 Nov 2008 21:12:29 -0600

Boston's old-world charm can be seen throughout the city; however, each neighborhood has its own unique characteristics and charm. Whether you are looking for an upscale condo, a traditional brownstone, or a trendy loft, <a href="http://www.bostonrealestatema.com/">Boston real estate</a> has something for you. Take a look at what each neighborhood has to offer and then take a drive or walk thorough the area to see if it is a good match for your specific needs. Boston's real estate market can be quite competitive, so having a reputable real estate agent on your side is essential when looking for the perfect place to call home.
Back Bay

Back Bay real estate places you right in the middle of everything. This prestigious area of Boston sits amidst Newbury Street-the Rodeo Drive of New England, the Copley Mall, the Prudential Center, and many trendy restaurants and clubs. When walking through the Back Bay, you will never tire of the stunning view of the Boston Public Library, the Boston Common, and the Trinity Church in Copley Square. If you want the epitome of Boston living, the Back Bay may be just what you're looking for.
Beacon Hill

Though one of the smallest neighborhoods in Boston, this charming area boasts some of the most coveted real estate in the city. Because Beacon Hill is located in the city yet maintains a neighborhood feel, this is an extremely popular area for families and professionals who want to be a part of a close-knit community. Property on the Hill is usually constructed in the classic Boston architecture style and has plenty of green space between the buildings. Proximity to Massachusetts General Hospital and the State House make this area home to many local lawmakers and medical professionals.
South End

The South End is one of Boston's trendiest neighborhoods. With Victorian-style row homes that have been converted into condos as well as new developments, this area is popular with young professionals and families and has the most thriving gay and lesbian community in the city. As the city's first planned neighborhood, this area has all the amenities of city living but also feels less urban because of its quaint buildings and abundant greenery. There is plenty to do in the South End such as visit one of the famous jazz bars, browse in chic art galleries, or relax in one of the numerous cafés.
Downtown Boston

Living right in the center of downtown Boston is ideal for professionals who work Downtown or in the Financial District. During the weekday, Downtown is bustling with workers on their lunch and coffee breaks. On the weekend, you can take a stroll through the Boston Common, visit the neighboring theater district, or local bars and chic restaurants. Downtown is right in the middle of it all-the city is your playground.
Kenmore Square

The famous Fenway Park, where the Boston Red Sox play, can be found in the center of Kenmore square. Real estate in this area is popular for professionals, students, academics, and medical staff due to its proximity to several local colleges and medical facilities such as Boston University, Northeastern University, Simons College, and Emmanuel College as well as Longwood Medical Center and Beth Israel Medical Center. The Kenmore Square area draws a lively night crowd, as it is only steps from Lansdowne Street. This street is home to some of Boston's most popular dance clubs and bars.
North End

The North End is the Little Italy of Boston. Though over half of its residents are non-Italian professionals and families, Italian roots still run deep in this neighborhood. Along the old-world European-style streets you'll find outdoor fruit stands, corner markets, family-owned businesses, and unparalleled Italian restaurants. Every summer weekend, traditional festivals are held in the streets. Recent road construction has made it more accessible to Downtown and the Financial District. This, along with the fact that the North End has one of the lowest crime rates in the city, makes it a popular area for real estate buyers.
Allston-Brighton

This trendy neighborhood has the best of both worlds. It is only minutes from downtown Boston, but Allston also has its own micro-community full of trendy and eclectic bars, eateries, and shops. Additionally, Brighton, which merges with Allston, offers many neighborhood-living options. You'll find condos, houses, and small apartment buildings along the streets of both Allston and Brighton.
Cambridge

Cambridge is a popular area for tourists and locals alike. This bustling area is home to two of the nation's most prestigious colleges, Harvard and MIT, and one-third of all Massachusetts's biomedical firms. However, the area is not limited to academics; Cambridge has a diverse mix of entrepreneurs, students, musicians, immigrants, and professionals. No matter what type of architectural style you are looking for, Cambridge's varied streets will have it.
Newton

Newton is a large area bordering the city of Boston, which is comprised of thirteen "villages". As a mix of small commercial areas and large residential neighborhoods, this is a great area for families and for professionals who want to live near the city but avoid the urban hustle and bustle. Everything you need on a regular basis is in Newton itself including fun restaurants, shopping, and entertainment. However, anytime you'd like a night out downtown or in the Back Bay-you are only a short drive away.
Brookline

This residential neighborhood has a wonderful mix of families, professionals, students, and elderly. Though largely residential, quaint commercial districts are scattered throughout the area; these include upscale shops and spas as well as more eclectic shops and rustic pubs. With a celebrated public school system, easy access into downtown Boston, and a bit of history-John F. Kennedy's birth house in is Brookline, the neighborhood's real estate is always in high demand.
South Boston

Often referred to as "Southie", South Boston sits alongside miles of beaches and is only fifteen minutes from the Financial District. Recent redevelopments have made the real estate in South Boston boom over the past five years. The neighborhood is known for its triple-decker row houses but also has many new luxury condo developments popping up throughout the area. Irish pubs are prevalent in the neighborhood; plus, South Boston residents have prime access to the famous Saint Patrick's Day parade.

Transportation in Brookline

Miro Fitkova (Fitkova Realty Group) — Wed, 19 Nov 2008 12:55:21 -0600

Transportation: An Array of Options in Brookline

Driving is much easier in Brookline than in the more urban parts of downtown Boston since Brookline has a nice mix of bustling commercial and quieter residential areas. In most commercial areas, the city of Brookline has built city parking lots that are metered-just keep an eye out for signs. Usually city parking lots are just behind the main strip of storefronts. If you have a car and you are relocating to Brookline, you should keep in mind that street parking is not allowed in many places in the city. Find out if this is the case in the area you are looking. If it is, you can usually rent a parking spot for $100-200 per month. Or you can look for a condo with a parking lot or for a house with a driveway.

While many residents have cars, MBTA, Massachusetts Bay Transportation Authority, covers all of Brookline and transports residents all around the Boston area. Boston's "T" or subway system has five lines designated by color. The Green line services Brookline. The Green line branches into four lines once it emerges from the center of Boston, B, C, D, and E lines. The C and D Green lines have multiple stops throughout Brookline including Coolidge Corner, Washington Square, Brookline Village, Chestnut Hill, and many in others.

In Addition to the MBTA's subway system, buses service Brookline residents throughout the entire city. Popular bus lines include Routes 60, 65, 66, and 986. To see bus and subway routes throughout Brookline and the Boston area visit MBTA's website at www.mbta.com. They make living in Brookline without a car easy with their online tools. You'll find a navigation tool similar to Map Quest, except instead of driving directions, the site will give you detailed bus, train, and walking directions to anywhere in the city. Additionally, you can have updates about your regular routes sent to your mobile device-so you know beforehand if there are any delays. You can even buy monthly passes online.

Even if you have a car, you may want to take the T into Boston-especially if you work downtown or in the Financial District and do not have designated parking for your company. Many companies offer employees free or reduced passes to commute into the city. If you are going into Boston for a sporting event or a night out, taking the T is an economical way to go because parking can be expensive and difficult to find.

Brookline truly is an oasis in the city. You have access to all the luxuries of downtown, yet Brookline has a smaller community feel and access to anything you would need on a daily basis. To schedule a meeting to discuss your real estate needs or to look at available properties in Brookline, contact Miro Fitkova of Fitkova Realty Group at (617) 232-3220.

Comparing Mortgages and the Good Faith Estimate

Miro Fitkova (Fitkova Realty Group) — Tue, 18 Nov 2008 13:51:13 -0600

The recent announcement from Housing and Urban Development that the Good Faith Estimate (GFE) form will be overhauled veered my thoughts toward the current GFE and how potential buyers use it. It seems that a lot of buyers are not sure what a GFE is or how it can help in comparing loans. Basically, the estimate outlines fees-in addition to the interest-that will be included in your mortgage. Many of these are due at closing. The Good Faith Estimate is exactly what its title suggests-an estimate-so unless your lender agrees to "lock" your rates, then they could all change by the time you make a move. However, you can still see how different companies will rate you and offer you different loan packages.

A new GFE format has been ordered because the current format is not especially user-friendly. Most consumers find the current estimate form difficult to understand and decipher. Unfortunately, the new, easier to understand GFE will not be officially required until 2010, so if you are looking at loans now, that won't help you. But where a GFE will primarily help you is to understand the general amount you will be responsible for at closing.

Many people are blindsided by this number and don't take it into consideration when thinking how much of a down payment they have available. When you receive your estimates, have your potential lenders go over the document line by line with you. Additionally, you can talk to your real estate agent about the different estimates you receive. I like to sit down with my clients and help them understand the ins and outs of buying a new home and taking out a mortgage.

Bottom Line: Don't disregard your Good Faith Estimate, but remember that the numbers are likely to change in the end. And remember to ask plenty of questions-buying a home is a major step in your life!

Brookline Schools: A Celebrated School System

Miro Fitkova (Fitkova Realty Group) — Mon, 17 Nov 2008 09:40:37 -0600

Brookline has long had one of the strongest school systems in the Boston area. Because Brookline remains an independent city from Boston, it has an autonomous school system. It is one of the few in the state that does not have middle schools. Instead, students attend kindergarten through eighth grade at one school and then move to a high school for their last four years. If you are looking to relocate to the Boston area and you have children or are planning on having children, you should seriously consider looking at properties in Brookline. To schedule a meeting to discuss your real estate needs and to view available properties, contact Miro Fitkova of Re/Max Unlimited at (617) 254-1369.

Brookline High School

Brookline High School serves the entire city of Brookline. Eight elementary schools feed into this reputable institution. With slightly under 1,900 students, the school boasts students from all races, cultures, economic backgrounds, and from 76 countries. The Advanced Placement program is quite extensive, giving upperclassmen the chance to get ahead with college courses; plus, the average SAT I score in 2005 was 1218 for Brookline High students whereas the national average was 1028.

Edward Devotion School

This famous school that John F. Kennedy attended serves the Coolidge Corner neighborhood. As the largest elementary school in Brookline, it is the home to many international students whose parents are studying at nearby hospitals and universities. The active PTO organizes several annual events including the School Fair, the Harvest Auction, Cabaret Night, and a series of family events. Special programs that the Devotion School offers include the Hebrew English Language Learner program and the Emotional, Social, and Behavioral Special Education program.

Michael Driscoll School

The Michael Driscoll Elementary school serves the Washington Square neighborhood and is the only school to offer a Mandarin Chinese program. All students K-6th grade study Chinese and then 7th and 8th graders may elect to continue studying the language. The school celebrates both diversity and the arts through programs throughout the year, which include celebrations of Martin Luther King, Jr., the Chinese New Year, art festivals and a writing festival that includes visiting authors.

Heath School

This elementary school that serves the Chestnut Hill neighborhood has a focus on student-teacher collaboration and on volunteerism. They have an ongoing relationship with the Ronald McDonald House, which 6-8th graders participate in. Additionally, all grades participate in volunteer projects throughout the year. To foster student-teacher collaboration, the younger grades take part in a weekly Heath Family Meeting.

Edith C. Baker Elementary School

Baker School serves the South Brookline area. With over one-third of the student population speaking English as a second language in the home, Baker is considered an "international" school. It is known for its outstanding Korean English Learning Program as well as its Cognitively Impaired Special Education program. The Baker school was fully renovated in 2000; two wings with more classrooms, a new library, and a new cafeteria were added. Each year, the graduating eighth grade class takes a trip to Washington D.C.

Amos A. Lawrence School

Serving the Longwood area, this elementary school strives to create lifelong learners who can make educated choices. The PTO is active throughout the year planning various activities to encourage parent participation in school programs. Additionally, the newly renovated school offers a Japanese English Language Learner program and a Neurobiologic Special Education program for the entire Brookline school system.

William Lincoln School

The William Lincoln School, which serves the Pill Hill and Point neighborhoods, strives to provide a rich after-school enrichment experience for its students in addition to a rigorous academic program. In addition to homework centers, students can participate in chess club, student government, Scrabble club, the school newspaper, science club, the Thaler Program: a student work program, Model U.N., Continental Math League, and the National Geography Bee. The PTO plans a variety of activities for families including courses for parents.

Pierce School

Founded in 1855, the Pierce School is one of the oldest schools in Brookline. It serves the Brookline Village neighborhood and has an open classroom philosophy, which is guided by the highly collaborative staff. Each year the school puts on two different musical theater productions.

John D. Runkle School

John D. Runkle School serves the Fisher Hill neighborhood. Founded in 1897 by John D. Runkle, who was a founder and the second president of MIT, the school has a long history of academic excellence. The school serves the district's PDD/ Autism Spectrum student population and has a program in place for Spanish English learners. The active PTO plans many fun events throughout the year and also raises money for scholarships.