BOSTON, NEWTON REAL ESTATE

Brutal Winter slams home sales in MASS.

Tean Wong (Centre Realty Group) — Tue, 29 Mar 2011 17:38:41 -0700

I remember it so well, and had already predicted this before Warren Group reported this numbers moths ago. The day after Christmas Massachusetts got hit by big snow storms, and snow storm repeatedly came one after another every single week in January. That month, I didn't see as many houses came on the Market like last years, even worse, number of buyers called me to request showings in January was only two!!! I wasn't shock, and it was very simple. Everyone was busy cleaning up their driveway, sidewalk and deal with family regarding the 5 feet of snow we got last Winter. Plus, no one wanted to drag the whole family out in the snow. In Banker and Tradesman, reported by Warren Group this morning, Mass home sales drop 12.5% in February compared to last February and the median home price for Single-family Home drop 5.5% as well. If you understand that Real Estate is about "Location" may be you might even consider "Micro Location". Even the number of State wide doesn't look too good, but in my so called "Micro Local" Newton, Brookline, Watertown, and Belmont are not in that bad, Number of home sold may be down but the price is not, especially when the interest is on the rise, buyers acted responsively in locking the rate. Making decision before the rate go up too high could safe a lot of buyers mortgage payment. In a change of 1% in interest, is almost like buyers pay more than 10% more in home price. So in my local market, is a story no one is reporting. If you are interested in your local report, talk to local Real Estate Agent...not news paper. TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

Understand Ice Dams

Tean Wong (Centre Realty Group) — Wed, 09 Feb 2011 14:15:27 -0800

In a perfect world, snow will melt off the roof, enter the gutters and flow harmlessly to the ground. However, if you have experienced water stained walls and ceilings after a large snow build up on your roof, you realize that the world is not perfect. Sometimes, after a significant snow fall and a long cold period, we find our homes are water damaged from ice dams. So what causes ice dams and what damage can they produce? Often ice dams are caused by the interaction between the cold outside air and temperature inside your attic. The warmer your attic, the more melt off occurs at the roof surface. Under most conditions, melted snow runs off the edge of the roof. However when the air temperature is very low, water refreezes at the edge of the roof - where the interior roof surface is not being warmed by the attic. Soon an ice dam begins and prevents the water from running off the roof. With repeated thaw and re-freeze cycles, the ice dam problem builds and water is trapped at the eaves or the base of valleys. The water then seeps under shingles and the roof felting, which is supposed to protect the roof system from water intrusion. Eventually the water seepage starts to saturate the wood sheathing around the eaves and wicks upward. Ice dams can result in water collecting on the ceiling or running down interior walls causing dampness or discoloration. In other cases water can run through the wall framing and pool under the wood flooring. Sometimes, this process goes unnoticed unless one is checking the roof sheathing from the attic or a member of the household has an allergic reaction and distress caused by microbial growth on the roof sheathing. (Microbial growth occurs when the weather warms up due to direct sunlight or warmer weather, and increased temperature.) Failure to dry moist building material like wet roof sheathing can result in major repair due to progressive microbial germination, amplification and spore dissemination. Since the main cause of ice dams is an overly warm attic, the best solution is to lower the temperature of the attic. One way to do this is to install additional insulation to the attic. Eventually, you will reach the law of diminishing returns when further increases in the amount of insulation will not show significant decrease in heat loss per dollar spent. While inspecting the insulation, check to see if someone has pushed insulation deep into the corner where the roof meets the attic floor. This can cause the lowest part of the roof to be colder than the rest of the roof, thus adding to the possibility of an ice dam forming. If this is the situation in your attic, pull the insulation away from the inside of the roof so air can reach it. Also, check to make sure insulation is not blocking the soffit vents. Some homeowners block soffit vents to keep cold air out of attic or garage areas. Unfortunately this prevents the ventilation and air movement needed to keep roof decking uniformly cool and to evaporate moisture from the decking. It can also cause a stagnant air condition that encourages mold growth and amplification. Another step toward prevention is to provide adequate ventilation. Without adequate ventilation, heat will build up. The ventilation can also remove water vapor which can condense in the attic and cause dry rot on the wood sheathing. Most building experts recommend venting one square foot of vent for every 150 square feet of attic floor area. If your home has roof overhangs (soffits), add vents into these soffits and, if possible, add a ridge vent – a vent which runs along the peak of the roof. Cold air entering the soffit vents rises along the inside of the roof and vents through the ridge vent. This process cools the roof and removes moisture. Some roofers will also install a three foot wide non-porous plastic material, called “ice and water barrier” along the eaves in lieu of traditional roof felting. Typically this is installed in the valleys and around chimneys and the perimeter of the roof. Heating panels or cables are sometimes installed around the eaves or other points where snow collects. When activated, these heating devices melt the snow and ice and allow for continuous water runoff. Sometimes these panels and cables can cause shingles to deteriorate faster or may block snow, thus forming an ice dam farther up the roof. Also, one has to remember to make sure they are not left on. Of course if the electrical power goes out – forget their use. When installing a new roof, make sure that the roof has the proper flashing, a “ice and water barrier” is installed on all roof edges and over all valleys, rolled asphalt underlayment is installed over the entire roof and quality roofing shingles are installed with the proper overlap. TEAN WONG Real Estate Agent Centre Realty Group 617.383.4499 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington. This Article is written by Peter Ottowiz from Hawkeyesinstectors.com TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

15 Wamesit Road Newton, MA Is Sold

Tean Wong (Centre Realty Group) — Tue, 28 Dec 2010 06:34:48 -0800

A 4,449 SQFT. COLONIAL HOME ON 0.43 ACRES LOT WITH 6 BEDROOMS 2 HALF BATHROOMS IS SOLD FOR $1,327,000 IT WAS ORIGINALLY ON THE MARKET FOR 1.599 MILLION IN THE SPRING OF 2010, THEN REDUCE TO 1.499 MILLION BEFORE CLOSING AT 1.327 MILLION ON DECEMBER 28TH 2010. TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

The 80-20 Rule (It will shock you to know)

Tean Wong (Centre Realty Group) — Fri, 10 Dec 2010 02:53:44 -0800

I just love the 80-20 rule. It can apply to many aspects of real estate. Like 80% of real estate agent's time is not spent on generating more leads. 20% of agents sold 80% of the home inventory. This is another 20-80. You wear only 20% of what you own. When selling your home, you will want prospective buyers to think that your closets are big enough for them and their clothes. It is imperative that your closets not be jammed to the rafters. I am sure that you have seen those decluttering shows where the person has gone from being unable to see into the closet to having a closet with clothes on hangers and neatly organized. How on earth did they go from a bazillion items to so little. Here are a couple of tricks that were used and that you can apply yourself. You wear only 20% of what is in your closet on a regular basis. That means that you can safely eliminate 80% of your closet and not go naked in the streets. In the 80% there may be a couple of items that you have to save for sentimental or celebration reasons but the rest can be given away, sold on consignment, traded with friends (but not for more clothes) or packed until you arrive at your new home. What do you really wear? Take all your hangers and face the hooks in one direction. Each time you take something out and return it to the closet after wearing it, face the hanger in the opposite direction. After a few months, you will see what clothes you never wear - the hangers are still going in the original direction. These are the items you can give away or sell. Put your remaining clothes or nice hangers and spread them apart on the rod so there is space. The wire hangers from the dry cleaners have to go. Buy a few boxes of matching wood or white plastic hangers. When on the rod , the same style of hangers lends continuity and also visual space. A Buyer will be so happy to see how big the closet is. Reduce the 80% to increase the value of your home.Valerie Zinger email: vzinger@royallepage.com (613-723-5300) Royal LePage Gale Real Estate, Ottawa, Ontario, Canada TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

Centre Realty Group Is Hiring.

Tean Wong (Centre Realty Group) — Wed, 10 Nov 2010 08:04:14 -0800

Jack Foster founded Centre Realty Group in the early 1990's, where the original focus was on residential sales and rentals. CRG has continued to expand its services and offerings, and has developed into a leading residential and commercial real estate organization in the MetroWest/Boston area. In 2003, Ethan Moeller; graduated with an MBA degree from Babson College, ranked #1 for Entrepreneurship studies for 17 years by US News and World Report. After meeting partner Jack Foster in June of the same year, he quickly identified the market opportunities for Centre Realty Group lay with highly trained and professional Associates providing a superior client experience. Ethan has guided Centre Realty Group's focus on Operational Excellence with an emphasis on providing up to date market information and analysis in order for clients to make informed decisions. Jack and Ethan take pride in Centre Realty Group's growing stature in the brokerage community by providing top quality Sales, Commercial, and Rental service. Centre Realty Group is seen as a company where agents can take advantage of great market opportunities and achieve their goals in a professional and supportive environment. Ethan expects you will find it easy to do business with Centre Realty Group. Presently, CRG is experiencing rapid growth and are looking for new agents. If you are looking for a exciting, professional environment, make Centre Realty Group your choice. No Desk Fee. Ability to work in Rentals, Sales and Commercial Department. High-technological tools and resources to ensure your success. Weekly training and lead generation program for all agents. Welcoming, team oriented work environment. Fully supported by managers and owners of the company. Great commission plan. No experience necessary. Job Requirements. Massachusetts Real Estate Salesperson's license. High ethical and moral value. Great communication skills. Self-motivated and hardworking. Basic computer and internet skills. Positive attitude. Reliable vehicle. For more info or would like to become part of our team please contact me or email hr@centrerealtygroup.com. TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

Think You Work Too Hard -- Watch This, You May Have To Work A Little Harder

Tean Wong (Centre Realty Group) — Tue, 02 Nov 2010 06:34:40 -0700

Well train! Are we all well train? Are we working hard enough? Lets watch this amazing hard working dog. When the market is slow, get yourself trained, when the market is tough, you work harder. When you think you already work hard, watch this dog.If you ever complain you're working too hard, you might have to think again as you watch Jesse get his work done. Whether you're a dog lover or not, this one's for you. If you want to put a smile on your lips and make a good day better, or a bad day less difficult, just take a look at this incredible video of one of the smartest little four legged fellas I've seen. Make it a great day! Geri Sonkin - Long Island Real Estate Expert - Stager/Decorator TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

National Association of Asian American Professionals Career Conference in Boston

Tean Wong (Centre Realty Group) — Mon, 18 Oct 2010 08:45:39 -0700

Taking Charge of Your Career Success, our pioneering new conference series uniquely designed to help Asian professionals develop critical strategies for career advancement and leadership. This comprehensive program is organized as a series of in-depth, once-a-quarter conferences beginning in November 2010. The Career Success Conference Series is designed by Judy Shen-Filerman of Dreambridge Partners and NAAAP Boston's Professional and Career Development Advisor. Judy is a highly-respected Boston-area career and leadership coach focused on Asian professional success. Judy's unique qualifications on the Asian career experience stem from her own experiences as a business executive with leading corporations along with her role as a career coach. Judy Shen-Filerman will be a featured speaker, along with a panel of accomplished leaders who will provide real-world perspectives on Asian advancement. THE SERIES' FIRST CONFERENCE Getting Recognized, Rewarded and Promoted at Work will feature a lecture, panel discussion, and breakout sessions. Date: Saturday, November 13, 2010 Time: 8:30 am to 3:00 pm Location: Liberty Mutual, 30 St. James Avenue, Boston, MA 02116 This NAAAP Boston and Dreambridge Partners Conference is sponsored byLiberty Mutual.WHO SHOULD ATTEND Asian professionals, of all industries, professions and public sectors, who are serious about their career success. These Conferences are especially valuable for working professionals, individuals who have competence in their technical and core functional skill areas, who are ready to do more, and who want help in knowing how. FOR FURTHER INFORMATION Visit our website: www.naaapboston.org(Detailed information about the program, speakers and registration) Email us: ProfessionalDevelopment@naaapboston.org View brief informational Videos (also accessible on our NAAAP Boston YouTube Channel):Judy Shen-Filerman's bioDescription of Conference SeriesFeatures and participant benefitsBenefits for Corp. Sponsors & Employers MARK THE DATE - NOVEMBER 13 - AND REGISTER NOW. DON'T MISS this exciting opportunity to "Take Charge of Your Career Success"! www.naaapboston.orgNational Association of Asian American Professionals (NAAAP) Boston TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

The How and the Where of Boston Student Housing

Tean Wong (Centre Realty Group) — Thu, 16 Sep 2010 08:20:50 -0700

Student housing is one of the biggest and most important residential leasing in Boston. These student are the first time renter and a lot of them don't event know what to do. Learn some tips, rule and laws will help them from trouble. Due to the large number of excellent universities and colleges in the Boston area, there are expanding numbers of students searching for off campus housing every year. In a city that is rich in history and full of charm, there are many options available. From high rise condos to quaint apartments located in some of the finest pieces of real estate in Boston, any student is sure to find something that suits their needs. In fact, many students actually make it an objective to live in an area of Boston that suits their cultural, spiritual or educational interests and backgrounds. The Back Bay or South End areas of Boston offer many charming, cozy apartments within renovated brownstones. If you love high ceilings and an old world feel, shopping among an array of fine and interesting boutiques, or the opportunity to stroll casually through Boston’s beautiful Public Gardens, you might very well look for an apartment here. Although actually a town and not a part of Boston, Brookline is another area that appeals to many students searching for housing. Full of charm and charisma, like many areas of Boston, Brookline offers many choices for apartment living. Within the bustling activity of Coolidge Corner there are shops and businesses that provide a multitude of amenities attractive to the student population. Prices in Brookline are said to be quite a bit less expensive than those in Back Bay or South End real estate, so students finding something here that suits their taste are bound to get a little more for their money. Naturally, price and location are very important considerations when searching for student housing, but they are by no means the only factors. It is imperative that students find places to live that are also clean, safe and properly maintained. Students must also understand all the legal implications and responsibilities of renting. When searching for student housing in Boston, be sure to consider these 5 important guidelines: 1. A lease is a legal contract, and not easily broken. Before you sign a lease be sure to read it over completely and understand the terms that it contains. 2. There are certain things a landlord can and cannot ask for. Legally, you can be asked for the first and last month’s rents, a security deposit, a lock fee and a portion of a re-inspection fee. No other fees, such as a finder’s fee or brokerage fee may be charged. 3. If you are renting with roommates, be aware that the lease must still be adhered to, and the rent paid in full even if one or more of the tenants decide to leave. 4. Always take a tour of the apartment with the landlord and make notes about the condition of the apartment before moving in. This will prevent you from being charged with damages that were already there. 5. For your own protection, it is always wise to insure your personal belongings that will be in the apartment. You may not realize it but computers, stereos and furniture can be worth a lot of money and costly to replace. TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

Fall Maintenance Tips For Home Owners

Tean Wong (Centre Realty Group) — Fri, 13 Aug 2010 04:32:52 -0700

Summer has not ended yet, but I am thinking ahead. I recommend all of my clients, family members and friends to think about Fall home maintenance weeks or months before it arrives. The reason is that home improvements and home maintenances need plan. Some of the works you will need to schedule a licensed professional, or service provider, it is always better to have things in place before you need them. So I called Hawk Eye Inspector for a little advices on how to do Fall home maintenance. This blog will be about interior Fall home maintenance and I will post one for exterior next week. Let’s start our Fall home maintenance. Check your heat pump, furnace or boiler. Have a heating professional make any repairs that are necessary. If there are the filters associated with your heating system, check them out. Be sure you know what kind of filters you have as each furnace accepts a certain size filter. There are 30-day, 60-day, and 90-day filters. There are also filters that you do not replace, but that you simply remove, hose off, and put back into the furnace unit. Properly maintaining your furnace (keeping it running efficiently and prevent leaks) conserves fuel. Make sure there are working nightlights at the top and bottom of all stairs. Check all windows and door locks for proper operation. Fireplaces, wood burning stove connector pipes and chimneys should be inspected at least annually. Have a certified chimney sweep inspect and clean the flues and check your fireplace damper. Soot and creosote, which build up inside the chimney, can ignite when a fire is lit in the fireplace. Check and clean dust from the covers of your smoke and carbon monoxide alarms. Check for cracked or missing caulk around the base of your toilet, bath tub, and bathroom cabinets. Properly sealing gaps between your bathroom fixtures and flooring materials can prevent water from seeping into the sub-flooring. Check the weather stripping around every outside door and window. Changes in temperature and humidity level cause doors and windows to expand and contract. Normal settling of a house sometimes changes the alignment of the windows and doors slightly, resulting in misalignment of the weather stripping. Over time, the weather stripping can also deteriorate from normal wear and natural element, such as the summer heat. In the fall, it should be checked for deterioration and/or alignment and replaced, if necessary. This will help to keep cold air out and the heat air in. Check around windows and doors for air leaks. An easy way to check for leaks is to move a lighter around the window or door frame and see if the flame moves with a breeze. If you find a leak, you can caulk it or you may have to replace the wood frame. If you are unable to repair the leak around a window frame, you can buy a plastic sealing kit from any home improvement store that can be used on the outside of the window to prevent air from getting in. For door leaks around the bottom of the door, you can install a new door sweep. Having these leaks repaired can save you money on your energy bill during the cold months. If you see any dark, dirty spots, it may indicate that you have air leaks coming into your home. Check the insulation. You need to try to locate these leaks and repair them. This time of year is a great time to do some indoor painting. Paint goes on and dries better in dry conditions, when the temperature is not too cold. The weather is still warm enough outside to leave windows open to ventilate during painting. Most of your professional painters are not as busy in the fall months as during the rest of the year. You may be able to get a good price to have your home painted. After the painting is done, make sure your leftover paint is stored in a heated area of your home, like a garage, to prevent it from freezing. By performing these Fall maintenance measures now, you can prevent possible problems later on during the cold months. If you have to have repair work done during the cold weather, it could be more costly than having the maintenance work done now. If you do not feel comfortable doing these maintenance projects yourself, research your area for reliable, insured professionals. Or you can contact me, so I can point you to the right people whom I know they will do good works. TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

2010 Massachusetts Top 20 (Twenty) High School by Newsweek.

Tean Wong (Centre Realty Group) — Thu, 29 Jul 2010 11:56:38 -0700

Each year, NEWSWEEK picks the best high schools in the country based on how hard school staffs work to challenge students with advanced-placement college-level courses and tests. Just over 1.600 schools—only 6 percent of all the public schools in the U.S.—made the list. Boston Latin School; the first public school and the oldest existing school of the country Made No. 3 (U.S.142)....BRAVO. Belmont High School; In 2009, US News gave Belmont High School a gold medal and named it the 100th best non-private high school in the United States and the second best in the state of Massachusetts. This year Belmont made No. 5 (U.S.272). Newton South High School, where many of my clients (buyers) are looking to buy their homes, made No. 19(U.S. 1046). There is no question, Newton School system is one of the best in Massachusetts. I have always been confident in recommending my buyers to buy homes in too these school system. I am fortunate to be working in such good and strong communities where people and local government care and always do their best for our children. 2010 Massachusetts Top 20 (Twenty) High School by Newsweek. RANK SCHOOL CITY

1(29)	Sturgis Charter Public **	Hyannis	MA	5.914	9	97
2(51)	MATCH Charter	Boston	MA	5.182	77	35.5
3(142)	Boston Latin	Boston	MA	3.574	30	86.4
4(264)	Mystic Valley Regional Charter **	Malden	MA	2.938	18	55
5(272)	Belmont	Belmont	MA	2.916	1	72.3
6(284)	Mystic Valley Regional Charter **	Malden	MA	2.864	20	45
7(296)	Weston	Weston	MA	2.822	1	67.9
8(392)	Hopkinton	Hopkinton	MA	2.538	3	62.8
9(457)	Dover-Sherborn	Dover	MA	2.41	2	56.9
10(496)	Cohasset	Cohasset	MA	2.34	4	59
11(516)	Manchester Essex Regional	Manchester	MA	2.302	7	52
12(539)	Mount Greylock Regional	Williamstown	MA	2.256	12	41.3
13(591)	Lexington	Lexington	MA	2.184	5	60.2
14(609)	Northampton	Northampton	MA	2.16	17	38
15(708)	Norwell	Norwell	MA	2.019	4.5	46.5
16(729)	Milton	Milton	MA	1.984	16	34.9
17(1003)	Hudson	Hudson	MA	1.654	15	35
18(1045)	Wellesley	Wellesley Hills	MA	1.606	4	58.5
19(1046)	Newton South	Newton	MA	1.603	5	66
20(1072)	Nashoba Regional	Bolton	MA	1.582	12	54.7

TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

Understanding Short Sale Transactions | A Guide to Short Sale Facts & Myths

Tean Wong (Centre Realty Group) — Wed, 28 Jul 2010 07:12:48 -0700

Understanding Short Sale Transactions | A Guide to Short Sale Facts & Myths A short sale unfortunately has become a common buzz word in the Real Estate industry. For those that have been hearing the term "short sale" and don't quite understand what it means, a short sale is a legal lender approved solution designed to assist a home owners who is financially strapped to get out from under their mortgage debt. A short sale is negotiated through the mortgage holder of an owners home where by the mortgage holder agrees to take less than what home owner owes on the property. A quick example of a short sale would be if a home owner owes $400,000 on their current mortgage and their home is only worth $350,000. The lender in this example would agree to take a short fall of $50,000 at closing. In some cases the mortgage holder may completely wipe out the debt and the home owner does not have to repay the 50,000. Many lenders may require a seller to sign a note and repay the debt over a certain amount of time. Typically the debt will be reduced and the owner may receive favorable repayment terms of the short fall. There is quite a bit to know about short sales from both a buyer's and seller's perspective. I have been successfully been completing Massachusetts short sales over the last three years. In fact (knock on wood) I have never had a short sale that did not get approved! Successfully completing a short sale is about understanding the process. Many consumers make extremely poor choices by working with Real Estate agents that don’t have a lick of experience with getting short sales approved. Picking a good short sale Realtor is critical to your success. The following is a number of specific topics about short sale transactions that you would want to be aware of if you are planning to either buy or sell one of these types of distressed properties. Stop making mortgage payments during a short sale? ~ Whether or not a home owner should continue to make mortgage payments is a common question that many sellers want to know when considering a short sale. The most common answer to this question is YES, however it really depends on the lender! Click the link to understand all the considerations. Picking the right short sale Realtor ~ Picking a Realtor to work with in a short sale is very different than a traditional transaction. You want to work with an agent that has experience successfully closing this type of transaction. Remember as a seller you could potentially be facing a foreclosure. There are many mistakes that are made by agents handling short sales. Don't get caught with your pants down! Questions to ask a short sale listing agent ~ If you are thinking about buying a short sale there are some specific questions you can ask the listing agent to determine the probability that the short sale will be approved or not. These short sale questions will also help determine if the Realtor handling the short sale knows what they are doing! Acceptable hardships for a short sale ~ On many occasions when doing a short sale the lender is going to require some kind of hardship on the part of the seller. Short sale hardships however, have become less rigid recently and some lenders are becoming more concerned strictkly on whether the short sale would benefit them more than a foreclosure sale. Short sale tax consequences ~ Understanding the tax consequences in a short sale is one of the most important considerations for a home seller. Whether the short sale home was a primary residence or an investment property can have different tax implications. Getting short sale debt released ~ Getting the debt released on a short sale is obviously a very big deal. Many Realtors that are working with short sales don't have any knowledge of how to get the debt released. A seller needs to pay particular attention to this detail as you can expect to be hearing from a collection agency without it! When to do a short sale home inspection ~ This topic is important to understand from both a buyer's and seller's perspective. A home inspection should be done before short sale approval and NOT after. Read the article to understand why it benefits both the buyer and seller to do so. Strategic default vs short sale ~ There are many home owners who are deciding just to walk away from their homes. Fannie Mae has started to crack down on this practice and is now penalizing borrowers from getting a mortgage for up to seven years! A perfect alternative to a strategic default is a short sale. These articles were published on my Massachusetts Real Estate blog where I talk about numerous topics that are important to consumers who may be thinking about buying or selling Real Estate. I am successfully completing short sales through out the Metrowest Massachusetts area. So far, knock on wood, I have a 100% success rate for short sale approval! If you need to complete a Massachusetts short sale please feel free to get in touch. If you are outside of the Metrowest Massachusetts area and need to do a short sale please give me a call or email and I would be happy to refer you to a Realtor in your location that handles short sales and knows what they are doing! I have referred short sales to other Realtors all around the country. ___________________________________________________________________________________________________ About the Author: The above Real Estate information on understanding short sale transactions was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356. Have a home to sell in Metrowest Mass? I have a passion for Real Estate and love to share my marketing expertise! For Metrowest Massachusetts Real Estate and homes see Massachusetts Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site. I service short sales in the following towns in and around Metrowest Massachusetts: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Northboro, Shrewsbury, Hopedale, Medway, Grafton, Northbridge, Uxbridge, Franklin, Framingham and Douglas MA. Click here to view Bill Gassett's Real Estate profile. Subscribe in a reader SUBSCRIBE TO MY METROWEST HOMES BLOG via email. Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 24 years. TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

Short Sale Negotiating Companies- Demanding A Part Of Your Commission?

Tean Wong (Centre Realty Group) — Fri, 16 Jul 2010 08:39:40 -0700

We get the acceptance letter from the lender who approves a short sale we have the listing on. Then we get another email that says that we have to reduce our commission by 1%. That was strange, we thought. We have done a lot of short sales with this particular small lender and never had an issue before with our commission. It is a small lender who mostly owns their own notes and services their own notes. This of course saves us a lot of time. With this particular lender we can close on our short sales within 30 to 60 days. As we read the email again we noticed it was NOT from the regular bank negotiator. It was from a third party short sale negotiating company. The email states that they want 1% put on the HUD for payment to them. That they are now negotiating the short sales for this lender. Well, excuse me but we did not hire this company. Our seller did not hire this company. It is the lenders choice to hire this company in their behalf and that means that the lender should pay the 1% to the company and NOT from our commission. Our commission has nothing to do with this company so why would we share it with them? It never ceases. Everyone is digging in the agents pockets who are keeping these deals together. If it were not for the agents that do know how to negotiate short sales there would be a ton more foreclosures. We are being treated as an adversary with the lenders, not as the party bringing the solution to the table. Needless to say, Nestor sent an email right back to this short sale negotiating company that they can get their own fee from the lender but that we have an approval letter from the lender with our normal commission and we are not changing our commission in the 11th hour! Are you noticing short sale negotiating companies getting a piece of your pie lately? Call us today at 561-753-0135 for a private and confidential short sale phone interview. There is no obligation. We do not charge upfront fees. We close on our short sales. Read what some of our past short sale clients say about us negotiating their Florida short sales (click here). To view Welington Florida short sales Click here. We know Wellington Florida Real Estate and Wellington Florida Short Sales and will help you get your home Sold if you need to Sell your home and help you buy your home in Palm Beach County Florida: Call us today. Copyright © By Katerina Gasset 2010 *Short Sale Negotiating Companies- Demanding A Part Of Your Commission?* TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

Buying a Condominium Requires Doing Your Homework

Tean Wong (Centre Realty Group) — Thu, 24 Jun 2010 09:57:12 -0700

Buying a Condominium Requires Doing Your Homework Helping a client with the purchase of a townhouse recently has reminded me that a condominium purchase can actually be more involved than buying a single family home. This is partially due to the fact that you need to be concerned, not only about the unit you are buying, but also with the strength and stability of the entire condominium complex. Before entering into the purchase of a condominium there are some important questions that need to be researched. Monthly condominium fees - Depending on the complex, these can be significant and they figure into your overall monthly expense of home ownership. You will need to find out what the fees are and exactly what they include. Fees typically go toward the maintenance of common areas, landscaping, snow removal and the master insurance. What is the percentage of renters vs. owner occupied units? Being in an environment of rental properties can have a direct effect on resale value. Additionally, depending on the type of financing you are seeking, your lender will want to know the owner-occupancy rate of the condominium complex. Bi-laws and covenants - These rules can govern how you can decorate your home, pet ownership and whether or not you can rent out your unit. It is not atypical in a condominium to have to control your noise levels or show a certain color, usually white, of window treatment from your unit. What does the master insurance cover? You will need to get a copy of the condominium's master insurance policy and examine it to see what your responsibility will be with regard to coverage. Most condo owners have to insure their own personal belongings or everything within your unit's walls. This includes carpeting, flooring, appliances and your own fixtures. Check recent resale values at the complex - Have sales of units been keeping up with the rest of the condo market? How have the "days on market" fared? What is the parking situation at the complex? When you have guests they will need a place to park. Most condominium complexes have some provision for guest parking. How many spaces are there for your guests and where are they located? Have unit owners been delinquent in paying their condo fees? If there is a large delinquency rate of owners paying their fees this is sign that the complex could be falling into financial trouble and this will not bode well for any future repairs, improvements or resale value. Are there any special assessments that are currently due? When a condominium project has fallen short on their budget sometimes the onus for special repairs (new roofs, decks, common areas) must fall on the owners. This will be in the form of a special assessment that needs to be paid either annually or monthly. You really do not want this type of surprise. In addition to the above, you will need to check out the management company and see whether or not it is professionally run. This information should be provided by the listing broker or seller along with all of the condo documents as well as the financial statement and budget. All of this information should be carefully reviewed by your attorney. Typically banks have a standard questionnaire that they require for all condominium purchases but if it is a cash deal you will need to come up with a list of your own and have the questions answered sufficiently by the owner or the management company prior to purchase. For a more carefree lifestyle a condominium can offer some distinct advantages over single family living. Just be sure to do your homework to ensure a happy and safe investment in your new home. Copyright 2010 "Buying a Condominium Requires Doing Your Homework" Subscribe to my blog Claudette Millette, Broker, Owner, The Buyers' Counsel - (508) 881-6230 Find the Right Buyer Broker in MetroWest Massachusetts MLS Property Search With No Registration Required TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

Protecting Massachusetts Real Estate Purchasers--There are Some Provisions in the "Standard" Greater Boston Real Estate Board Purchase and Sale Agreement which need "FIXING"

Tean Wong (Centre Realty Group) — Thu, 24 Jun 2010 07:00:06 -0700

Another great Blog Post!As a Massachusetts real estate attorneyey, I review purchase and sale agreements nearly every day of my life. This is what lawyers do in Massachusetts when they practice real estate law. Lately, more of my colleagues have developed their own "Word" documents which contain revised and updated approaches to pending transactions. There are still many deals, however, where the Realtor, or perhaps even the real estate attorney who is involved, trots out the 1991 vintage "standard" purchase and sale agreement and either submits that to me for review, or, worse, tells the Buyer to sign because it is "standard" and there really is no need to pay an attorney to review and revise the document. This post is written as a result of the latter situation, which has developed into a "trap for the unwary" for my client. She signed the "standard" purchase and sale agreement, allegedly because that is what she was advised to do by the Realtor involved. In any event, one of the provisions in the "standard" agreement provides alternative courses for a Seller, in the Buyer defaults and does not close. One choice is to retain the deposit placed into escrow as liquidated damages, which can be a rather significant financial "hit" for the Buyer. The other much more significant option is to permit the Seller to sue for specific performance. In a shaky market, the results of a judgment for specific performance can be a disaster, since the current value of the property may be much less than the contract price. In my almost 42 years of practing real eestate law, I have never, ever permitted a purchasing client of mine to sign a purchase and sale agreement which has a "specific performane" provision. At times, this has meant almost killing the deal, but I feel so strongly opposed to this provision, that the attorney or Realtor on the other side has acceded to my demands. The alternative to removal has placed my client in extremely hot water. She is being sued for specific performance on a transaction she needed to walk away from, mainly from a change in her financial position. It seems her 5% deposit for taking the property off the market for slightly more than two months is not sufficient for the Seller. I may be able to help her here, but in any event, this transaction will cost her an exceedingly large amount of extra money. My point here is that while it is great to have the benefit of experienced counsel, our industry needs to update, on an even handed basis, a document that is almost twenty (20) years old. When this document was last revised, my rising senior in college was two years old. Computers were just coming into wholesale use, and there was no social networking. I am not sure with what diligence your local real estate board approaches revision of its "standard" documents. We, in Massachusetts, need some attention paid to ours, and quickly. TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

Massachusetts Family Short Sale Leasebacks--A Viable Solution for People Who want to help family members in mortgage-distress

Tean Wong (Centre Realty Group) — Thu, 24 Jun 2010 06:51:55 -0700

In recent posts, I have suggested that concerned parents or concerned children might help their kids, or parents, by assuming their mortgages to help them out until their fortunes improve. I still believe that this type of approach makes sense, and I am currently working on some mortgage assumptions which do take the pressure off the affected parties. My firm also has expertise in negotiating, and obtaining, short sales for "under-water" mortgages. With those type of experiences as a backdrop, it occurred to me that the best of both worlds might be a short-sale accompanied by a lease back to the struggling owners. Perhaps, even a coefficient of having some portion of the "rent" (say 60%) being able to be applied to building up a down payment for a repurchase, and there is a viable solution for all parties involved. It goes without saying that the specific terms of the arrangement will need to be disclosed to the Lender. On the other hand, the Lender is saving a Realtor's fee, and that makes the deal sweeter on a "net realized" basis. A non-performing loan is off the books. The former Borrower is now a renter, which is probably what he, she or they should be at this point in time. Certainly, the specter of foreclosure is gone. So is the disconnecting effect of moving and changing schools for your children. Perhaps, without the sword dangling over their throats, the Borrowers can be more confident at job interviews and get started with the rest of their life. On the purchase side, the person helping out is doing so, but leaving the distressed Borrower with some dignity. This is not "something for nothing". The tenant will be expected to pay rent and adhere to the other terms of the Lease, which I would suggest be in writing, and provide for a Security Deposit. I know this is not a solution for everyone. But, it can make sense for some families, and perhaps, give the Purchaser some tax benefits. It is certainly a far better solution than foreclosure, and it provides practical solution to the "short sale" without a place to move to scenario. TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

Longwood Tower is now for Rent! Luxury rental Unit, Brookline MA

Tean Wong (Centre Realty Group) — Thu, 17 Jun 2010 07:02:26 -0700

Longwood Towers The rebirth of a Brookline legend is complete. Longwood Towers is now offering for rent luxury one and two bedroom apartment suites featuring top of the line fixtures and finishes, open floor plans with abundant natural light, and exceptional city views. Enjoy the comfort and convenience of valet parking, a 24-hour doorman, and on-site concierge services. The on-site fitness center is fully equipped, a well-appointed club room expands your entertaining and leisure space, and the business center allows you to conduct meetings without having to leave home. Panoramic views of the city sweep the skyline and the Emerald Necklace. Professionally designed and landscaped grounds offer a private, park-like atmosphere. Only steps from the D Line and walking distance to the Longwood Medical area, Longwood Towers offers easy access to an array of shopping, dining and entertainment venues.

Kitchens with stainless appliances, granite and custom cabinets Hardwood floors Marble baths with heated floors In-unit washer & dryer Central air and heat City views Custom closet organizers Balconies/patios in select units Breakfast bar Bay windows

Crown molding Recessed lighting Internet and cable ready Grand lobby with 20’ ceilings Wi Fi in lobby and community room Wheelchair accessibility Classic architecture Landscaped courtyard Elevators Fitness center Community room

Laundry room Business center On-site management 24-hr maintenance Valet parking Concierge 24-hour doorman No pets allowed Steps to D Line Walk to Longwood Medical Minutes to Route 9 and Mass Pike

TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

LongWood Tower Rental Property in Brookline MA

Tean Wong (Centre Realty Group) — Thu, 17 Jun 2010 06:53:14 -0700

Longwood Towers combines classic architecture, contemporary interiors and traditional white glove service — all in a convenient location in one of Brookline’s most desirable neighborhoods. Only steps from the D Line and walking distance to the Longwood Medical area, Longwood Towers features newly reconfigured luxury apartment residences with open floor plans, abundant natural light and top of the line finishes. Kitchens with stainless appliances, granite and custom cabinets Hardwood floors Marble baths with heated floors In-unit washer & dryer Central air and heat Open floor plans Bay windows Exceptional city views Fitness center Community room Valet parking Concierge 24-hour doorman Beautifully landscaped courtyard Steps to D Line Walk to Longwood Medical Area Minutes to Mass Pike 20 Chapel Street, Brookline, MA 02446 1 BDR from $2495 Furnished $4000 2 BDR from $3695 Furnished $5700 TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

Deed Restrictions--There May be Some Methods to use to remove them

Tean Wong (Centre Realty Group) — Mon, 17 May 2010 10:00:07 -0700

Recently, I was asked to look at a Deed for a Massachusetts client which had restrictions contained therein which made a sale to a third party almost impossible. The Deed was delivered and recorded in 1957, and I did a title search from 1957 to the present to see if the Grantor has filed any intervening extensions of the restrictions during the over 50 year period in question. No extensions were on record. I did some research on Massachusetts statutes and found that almost all restrictions lapsed after certain periods (the periods themselves varied based on the type of restriction involved) and the restrictions in the Deed I was dealing with lapsed after fifty years. That being the case, after conforming my findings with my Title Insurance underwriter, I informed my client that the land in question could be sold with no mention of the 1957 Deed restrictions. The results of this exercise (wherever you are located) should make you aware of two important concepts: 1. Always review the Deed into your Seller before you list a property. These days most Deeds are available on-line. If that is not the case, I am sure your closing agent or title company will assist you in the process. Among other things, this instrument will conform that your Seller actually owns the property, which, believe it or not, is not always the case. The other thing you will see is the presence (or absence) of restrictions in the Deed, which your Seller may not be aware of. 2. If there are Deed restrictions, suggest that the Seller retain legal counsel to review them. Along with statutory solutions, like the Massachusetts "lapse scenario, there may be procedural steps which the Seller can take to remove restrictions. Always keep in mind the kmowledge that restrictions which deal with race, color or creed have been generally eliminated through US Supreme Court and other judicial decisions. There is nothing worse that finding a Buyer for a listing, and then getting hung up with Deed restrictions which do not permit a sale to the Buyer in question. if you are informed, and pro-active, you can head off these problems in advance. It is generally almost always worth the effort. TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

Buying a Builder Home Without Representation Can be a Nightmare

Tean Wong (Centre Realty Group) — Wed, 12 May 2010 12:02:16 -0700

Buying a Builder Home Without Representation Can be a Nightmare. This is a scary and unfortunately true story. All names are being protected in this story. Buyers need to take buying a home from a builder very seriously when they enter a builder's sales center and make sure they are fully represented by a Buyer's Agent (Realtor). The main thing to keep in mind is that the "Realtors" working for the builder are actually "Salespeople". They are trying to meet a quota for the week or month, to get their next plaque on the wall, or win the turkey for Thanksgiving. It is quite unfortunate that Buying a Builder Home Without Representation Can be a Nightmare. This story starts with a very nice couple in their early 50's (let's call them Bob and Bobbie Buyer) tagging along with their friends while they buy their new home. Once the Salesperson (lets call her Susie Salesperson) working for the builder had sold the community and a new home to their friends, she turns to Bob & Bobbie Buyer and says, "So are you ready to buy a home?". Bob & Bobbie Buyer, who had absolutely no intention of buying a home (new or resale) told Susie Salesperson "no". But Susie (being a top Salesperson in 2006 and having won all kinds of awards for meeting sales quota) continued to use her newly learned sales pitches to pressure them by telling them, "Well let's have you get preapproved through our inhouse mortgage company just to see what you can afford. After all wouldn't you like to live here with your friends in a beautiful new home in this fabulous community?" (Sell, sell, sell Susie Salesperson was doing.) So you are probably thinking, "Sounds like the typical builder salesperson." Thats what I thought too until they told me what the salesperson told them to do. They didn't qualify for the new home through the inhouse lender, so Susie Salesperson told them that all they had to do was change their tax records so they would qualify (just for the loan of course). I don't know about you, but I think that's ILLEGAL???? When Bob & Bobbie Buyer questioned her, she said, "Oh it's just for the purpose of your loan and then you just do an addendum to your taxes to correct them." Buying a Builder Home Without Representation Can be a Nightmare especially when it is a salesperson such as this one! But this "Salesperson" learned this from somewhere.....hmmmm…maybe the builder taught her to do this? Scary!! The saddest thing about this story is that Bob & Bobbie truly could not afford this home and never should have been approved for a mortgage. However, the excitement created by Susie Salesperson got them into a home that drained their assets and put them into foreclosure, ruining their credit. They were happy renting a home and never had any intention of buying a home. Unfortunately, they got caught up in the thrill of owning a home (after all they had never owned a home - ever!). Now, they are renting a home again waiting on a buyer to put an offer on their home which is listed as a short sale to try to avoid foreclosure because of this horrible experience of Buying a Builder Home Without Representation Can be a Nightmare. Any buyers reading this, please beware that you must be represented by a Buyer's Agent (Your Realtor) when buying a home through a builder. The builder's salesperson represents the Builder and is doing everything in their power to get the best deal for the seller (builder). They work just like used care salespersons. They receive a "draw" as income and when they make a sale they pay back their "draw". If they go without making a sale, they could get fired or laid off and owe the builder money for the draws and lack of sales. They are high pressure salespeople. When you buy a home directly through the builder without representation, you give up your right to be professionally and fully represented in the transaction and could end up in a very unfortunate situation like these poor buyers did. The best thing is that using a Buyer's Agent to help you buy a home costs you absolutely nothing. The seller (builder) always pays the Buyer's Agent - you never pay anything! Buying a Builder Home Without Representation Can be a Nightmare! Make sure you are fully and professionally represented by a Buyer's Agent (a Realtor) before stepping foot into a builder's sales office, even if you are just tagging along with a friend to look at model homes. A Buyer's Agent as the following fiduciary duties to you. A Buyer's Agent must: Be loyal and act in your best interest Obey your lawful instructions Protect your confidence Exercise reasonable skill and diligence when answering your questions Be accountable for handling funds and paperwork Present all offers in a timely fashion A Buyer's Agent works for YOU fully. We are Accredited Buyer Representatives (ABR) and recognized through the National Assocation of Realtors. As your Buyer's Agent, we act on your behalf to get you the best deal possible on the purchase of your new home, whether it be through a builder, a bank or a regular resale home. Remember, Buying a Builder Home Without Representation Can be a Nightmare. Joyce and Terry Thomas, Associate Brokers, US Preferred Realty www.DesertSunRealtors.com Thomas@DesertSunRealtors.com Follow Joyce and Terry Thomas! About the Author...This article was provided by Joyce Thomas, a Nationally recognized Realtor and Certified Short Sale Negotiator and Distressed Property Expert. Joyce can be reached via e-mail at Thomas@DesertSunRealtors.com or by cell phone or text message at 480-620-5586. Joyce has helped thousands of people buy and sell their home. For Arizona real estate and homes see www.DesertSunRealtors.com. Servicing the following areas in Arizona: Florence, Queen Creek, San Tan Valley, Coolidge, Apache Junction, Casa Grande, and Pinal County Arizona. Specializing in Anthem at Merrill Ranch Florence Arizona, resort style living and active adult living. TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

Strategic Defaults- Homeowners! Choose Strategic Short Sale Instead Of Walking Away!

Tean Wong (Centre Realty Group) — Wed, 12 May 2010 11:35:13 -0700

There is so much internet chatter going on about strategic defaults since 60 minutes aired and had a segment on homeowners just walking away from their homes. Is it tempting for you to just leave the keys on the table and get out from underwater? Does the option of renting for the next 4 to 5 years look pretty appealing to you right now? Have you discussed your situation open and honestly with your real estate attorney who really understands the mortgage default law in your state? Have you discussed the ramifications of your decision to walk away with your certified accountant who understands the IRS code regarding foreclosures? Have you discussed your goals of what you want to accomplish with your strategic default with your Realtor® who actually closes on short sales that are strategic defaults? If you have not looked at all your options- then please explore them before making a fast decision just because everyone else is doing it or just because you may have been sold some bad information. A strategic short sale may be an option for you. You may be able to negotiate down the balance you owe to a very small amount on which you can then execute a small promissory note for. Some homeowners have been able to get strategic defaults approved by offering pennies on the dollar of what they owed. Strategic short sales on first loans are most often easy to get negotiated to approval. HELOCS are another story- that is when you took out a home equity line of credit after you bought your house and then you used that money to buy cars or trips or pay for college tuition or to buy other properties. HELOCs are held in secondary position and there is not much benefit for them to foreclose on you. So they most often will charge your loan off after you don't make payments and then sell that debt to collection agencies who will seek to collect from you for a very long time. Different states have different rules but in general the credit reporting agencies will leave that charged off debt on your credit report for 7 to 10 years. But the kicker is that when the time is near to get it released the collection agency sells the debt to another collection agency who then starts the process all over again. How long can you hide from them? What state do you live in and how do your credit laws protect your assets or not in your state? Something to think about. But you can negotiate a settlement with your HELOC and then that will wipe out the major part and the only part you will be now paying on and be liable for is the part you negotiated the debt down to. You are going to be asked to do that very same thing when the collection agency takes you to court to get a judgment against you. Why not take care of it now to avoid all of that hassle and stress later on down the road? If you do a short sale and you are late on your payments only because your lender told you to be late in order to complete your short sale and you are doing the short sale because you are moving to another area for a job- FHA may allow you to buy a home right away. Most homeowners who go into foreclosure will be able to buy another home in about 5 to 7 years but FHA will not approve your loan until you take care of your judgments. Have you thought about that? If you do a short sale you can get an FHA loan or a Fannie Mae loan within about 2 to 3 years conservatively speaking. There are a lot of other differences in getting a future home loan after a foreclosure and after a short sale. You may want to visit the Fannie Mae website to find out more. Nothing in this article is to be construed as legal advice. Please seek the advice of your attorney. We are not attorneys and we are not giving you legal advice. For more information about selling your home as a Florida short sale click here. Foreclosure Is NOT An Option! Call Nestor and Katerina Gasset today at 561-753-0135 for a confidential interview regarding your options. Don't Delay! Don't Wait Until The Sheriff Is Knocking On Your Door! Pick up your phone and call us to see if you can avoid foreclosure. To view Welington Florida Homes For Sale Click here. We know Wellington Florida Real Estate and Wellington Florida Short Sales and will help you get your home Sold if you need to Sell your home and help you buy your home in Palm Beach County Florida: Call us today. Copyright © By Katerina Gasset 2010 * All Rights Reserved*Strategic Defaults-Homeowners! Choose Strategic Short Sale Instead of Walking Away!* TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

Home Sale Rose in Massachusetts.

Tean Wong (Centre Realty Group) — Wed, 28 Apr 2010 10:15:55 -0700

Great news that we all expected!! The Massachusetts Association of Realtors reported the number of homes for sale in the state in March rose over the year-ago for the first time in about two years, indicating the stabilization on real estate market. Home owner feel more comfortable to put their home on the market, because they see the real estate market is moving toward the right direction. MAR also, stated that the median selling price for a single-family home in Massachusetts rose for fifth consecutive month in March, about 10% from March 2009. The Warren Group; a Boston-based tracker of real estate tracker, also reported that the sales of single-family homes hike nearly 28% compare to the same time last year. And the median selling price for single-family home raised 8% compare to last year. Both groups have different way in calculation, but both are on the same page about how they see the market. I am definitely interested to see more data after the first time home buyer tax credit expires. TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

Service Members Get Tax Credit Extension

Tean Wong (Centre Realty Group) — Wed, 28 Apr 2010 07:57:00 -0700

Service Members Get Tax Credit Extension As you should already know, the $6500/$8000 home buyer tax credit is ready to expire in about four days, potentially taking with it much of the motivation for buying a new home and making a lot of people wonder what the real estate market will look like come May 1st. However, it appears that members of the military may qualify for a one year extension of the credit. According to the National Association of Home Builders, Congress has granted an extension of the credit to military members who qualify. The following exemptions and definitions apply: Exemption From Tax Credit Recapture Rules Typically, homes that are sold or that cease to be used as a principal residence within three years of the initial purchase are subject to recapture of the tax credit. However, qualified service members who sell or move from a tax credit home within three years of the initial purchase due to official extended duty are exempt from the recapture rule. Extension of Tax Credit Deadlines The home buyer tax credit is available for qualified purchases with a binding sales contract in place on or before April 30, 2010 and closed by June 30, 2010. However, for qualified service members who are ordered on a period of official extended duty, these dates are extended for one year. For these home buyers, the tax credit applies to sales with a binding sales contract in place on or before April 30, 2011 and closed by June 30, 2011. A person who is forced to return to the U.S. for medical reasons before completing an assignment of at least 90 days of qualified official extended duty outside of the United States may qualify for the one-year extension. Definitions “Qualified service member” means a member of the uniformed services of the U.S military, a member of the Foreign Service of the U.S., or an employee of the intelligence community. “Official extended duty” means any period of extended duty outside of the United States for at least 90 days during the period beginning after December 31, 2008 and ending before May 1, 2010. We’re glad to see this extension for our service members and applaud Congress for taking this step. You can find Harriman Real Estate in these fine locations: TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

Total Gut Renovation Home For Sale In Brookline, MA

Tean Wong (Centre Realty Group) — Tue, 06 Apr 2010 00:24:11 -0700

Centre Realty Group 617.417.4230 Tean@CentreRealtyGroup.com Tean WongCentre Realty Group.Boston,Newton and Brookline

BROOKLINE - Price: $1,269,000 4 BEDROOM - EXTRAORDINARY TOTAL GUT - RENOVATION OF AN AMAZING BRICK HOME BY A REPUTABLE LOCAL DEVELOPER ( A CERTIFIED GREEN PROFESSIONAL). A BLOCK FROM BEACON ST, WASHINGTON Sq. 4 BEDROOMS, 3 BATHS, HARDWOOD FLOORS THROUGH OUT, GORGEOUS LIVING ROOM W / FP, DINING ROOM, MASTER SUITE, JACUZZI, HUGE HIS / HERS WALKING CLOSET AND OFFICE SPACE, STATE-OF -THE- ART- GRANITE KITCHEN WITH SITTING AREA, EUROPEAN APPLIANCES, HIGH END FINISHES, 2 CAR GARAGE. COMPARE QUALITY AND PRICE IT WILL STAND ABOVE THE REST! AD#-5984995

Tean WongReal Estate SalesCentre Realty Group1280 Centre St. Newton, MA 02459www.teanwong.comoremailtean@centrerealtygroup.com TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.

Luxury home for sale in Waltham, MA

Tean Wong (Centre Realty Group) — Tue, 06 Apr 2010 00:15:09 -0700

Tean WongCentre Realty Group.

WALTHAM - Price: $879,000 3 BEDROOM - 3.5 BATH Come see this perfectly sited home, situated on .57 acres, near the Storer Reservation! Contemporary living style features are the enormous open spaces and the high ceilings with magnificent southern exposure! Details include fireplace in the living room, oak floors, SS appliances and a formal dining room with Brazilian cherry floors. Two master suites with gorgeous bathrooms complete the package. Plus over 2,000 SF. Basement and in ground pool. Appliances: Range, Wall Oven, Dishwasher, Disposal, Microwave, Countertop Range, Refrigerator, Freezer, Washer, Dryer Area Amenities: Swimming Pool, Conservation Area, University Basement: Yes Full, Garage Access, Concrete Floor Beach: No Construction: Brick Flooring: Wood, Wall to Wall Carpet Foundation Size: n/a Foundation Description: Poured Concrete Interior Features: Central Vacuum Lot Description: Wooded, Paved Drive, Fenced/Enclosed, Gentle Slope Sewer and Water: City/Town Water Waterfront: No Living space 3000+ SF. Lot 0.57 Acres More info visit http://vow.mlspin.com/idx/Details.aspx?mls=71019043&aid=BB954455 4 parking Garage+Driveway AD#-6132797

Note to Buyer's Agents involved in Short Sales-Your purchase agreements need some "substance" and discipline!!!!!!

Tean Wong (Centre Realty Group) — Tue, 06 Apr 2010 00:06:08 -0700

"Same old, same old" really doesn't work very well when you are representing a Short Sale Buyer. The reason: Your client can get eaten alive by upfront costs, and end up not even getting to purchase the property in question, because the Lender withholds approval or makes the approval price prohibitive. These are my suggested solutions,: 1. Do not put up any substantial deposit (more than $500) until your Buyer has written Short Sale Approvals in hand, 2. Do not do a home inpsection until your Buyer has written Short Sale Approvals in hand, 3. Do not file a mortgage appication, again, until your Buyer has written Short Sale Approvals in hand. AND FINALLY 4. Pick a date for the written Short Sale Approvals to be "in hand" and "crater" the transaction on the day after that date. This approach requires some discipline, and you are going to have to do a great sales performance to convince your customer or client of the wisdom of your ways. Bottom line!!! This is the only way to get involved in a Short Sale, and if your clients go any other way, they are playing Russian Roulette with their money. TEAN WONG Real Estate Agent Centre Realty Group 617.417.4230 tean@teanwong.com www.teanwong.com Servicing Boston, Brookline, Newton, Cambridge, Watertown, Belmont, Arlington and Lexington.