The Boston condo market is rising rapidly causing many condos to go over asking price. How are the appraisers keeping up with the market? Appraisers can typically only use comparable properties that have sold in the last 6 months. Inevitably, this combination is causing some condos not to appraise.
So what does this mean?
Recently I had a situation where a condo did not appraise. We were one of 3 offers. Our terms were excellent and, although we were … (0 comments)
boston condo: The Third Time is a Charm... Lessons learned about home buying
- 07/07/14 08:05 PM
“The 3rd time is a charm…” 3 lessons learned about home buying Last year I had the pleasure of working with two of the nicest buyers. They were first time home buyers and highly motivated to get into a home in Boston.
We met for an initial consult, came up with a game plan and started viewing homes. Not too long into the search, we came across a home they really liked and put an offer in. The sellers were heading to Europe for 2 weeks and asked that we wait until they returned to negotiate. We did not stop … (2 comments)
BUYING ADVICE “What’s wrong with that property?” “I don’t want to see this property. It has been on the market for over 300 days.” “Something has to be wrong with it! If it was a good property, wouldn’t someone else have bought it by now?” All quotes I often hear from Buyers. What are they looking at when they ask these questions? Most of the time it’s the days on market for a property (or DOM as often abbreviated on a listing sheet). So is something actually wrong with a … (82 comments)
boston condo: How Much Does a Buyers Agent Cost?
- 07/02/14 09:47 PM
“How much does a buyer agent cost?” That’s a reasonable question often asked of me at an initial buyer consultation. At the consult I tell you that I represent only buyers and explain all the things I am going to do to make your new home purchase as easy as possible. The next question is always “How much do your services cost?” Great news! There is no out of pocket cost for my buyer representation service. I get paid for my service by the listing agent. Through the agent to agent multiple listing service (which you can search for listings here), … (0 comments)
Hey Susan, I am buying a Boston Condo and my appraisal didn’t come in. What are my options?
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