Emmanuel Scibilia's archive

New on the market: Pristine 4 Bedroom/2 Bath single family Cape totally renovated features  stainless steel kitchen, Living Room w/fireplace, hardwood floors, all new systems, central AC, windows, updated electrical, new roof & new walls leave nothing for you to do but move in and make it your own. For summer entertaining, enjoy the sun porch, spacious patio & private yard with mature landscaping. Steps to shops, restaurants, public transportation & Stony Brook State Reservation. Offered at $291,000

For more information, please call Emmanuel at 617-669-6277 or go to www.BostonPropertiesNow.com

Introducing this modern 1 bedroom condo on a side street, close to everything JP has to offer. This unit features an open floor with a good size separate bedroom, laundry, renovated stainless steel kitchen, recessed lights and a lovely back yard great for BBQs. Steps to public transportation, shopping & the Arboretum; this is urban living at it's best with an affordable price and a great opportunity to own especially for first time buyers. Listed at $178,900.

For more information, contact Emmanuel Scibilia at 617-669-6277 or go to www.BostonPropertiesNow.com

 Buying a home can be complicated, for most of us, it is the biggest investment we'll ever make so asking questions is very common. Here are a few questions buyers ask when they start the process of buying a home and as they start looking at homes.

1:  Are there any tax deductions for homeowners ?
Real estate taxes are tax deductible. It can add up especially because in the first few years your payment is actually mostly interest.

2:  What happens once the seller agrees to the price ?
Once you’ve come to an agreement on price, be sure to check if the appliances are included, then your buyer agent will get it in writing and help you schedule a home inspection.

3:  What happens if the home has defects ?
There is no way to know for sure, the best way is to have a home inspector check the house, the roof, systems, foundation, etc...

The cost of a home inspection ranges from about $300.00 to about $500,00

When you're looking at homes, you can look at the foundation or any signs of leaks or moisture.

4:  How soon after I apply for a mortgage will I know if I am approved ?
Assuming, you have been pre-approved for a mortgage, it can take up to 2 to 3 weeks to get the loan, depending on how simple or complicated your application is and how busy the lender is. It's also a good idea to check when your rate expires if you locked it.

5:  What is the minimum down payment ?
You can put as little as 3% down and if you qualify for a VA loan, you can put 0 down. Keep in mind that if it is 3%, it may be an FHA loan and the lender will need to approve the condition of the property so it will need to be in livable condition.

6:  What does a bank use to set my mortgage amount on?
The bank will look at your income and debt, also called debt to income ratio. They also look at how long you've been at your job. If you're self employed, they will check your past tax returns.

7:  What type of mortgage is best for me? fixed or adjustable?

There are fixed-rate mortgages and adjustable rate mortgages. 

Fixed mortgage rates allows you to lock in an interest rate for a set amount of time, no matter how the market fluctuates. This is great because you can  lock in at a good rate, but on the other hand, you may lock in only to watch interest rates hit an all-time low.

Many buyers are comfortable with a fixed rate because they know their monthly mortgage payments will remain stable over the years, making their monthly cash flow more predictable. The lenders charge a higher rate of interest for fixed-rate loans.

If you plan on living in your home for many years, a fixed rate makes sense.

Adjustable-rate mortgages means that the rate you pay changes according to fluctuations in the market. Advantage. Lenders charge a lower rate for such loans because you take on some of the risk. Initially, this makes your monthly payments lower.

If rates rise, however, there is a limit to how much an adjustable rate can rise, often to no more than two percentage points a year, with a cap of six for the life of the mortgage. If you are willing to endure the ups and downs of refinancing on an annual basis, then you may come out on top.

8:  Can I make a lowball offer?

It is a good idea to do a comparative Market Analysis first to see what other homes are selling for in the area.

With that information, your agent can help you make an offer that reflects the current market. One thing to look at is how long has the home been on the market and to be realistic, otherwise you risk giving the impression that you're not a serious buyer.
 

For more information, please contact Emmanuel Scibilia at 617-669-6277 or visit: www.BostonPropertiesNow.com

Five of the largest mortgage servicers: Ally/GMAC, Bank of America, Citi, JPMorgan and Wells Fargo will have to meet new requirements.

The state Attorneys General foreclosure settlement was filed in Federal Court to make short sale timelines shorter.

As an example, Mortgage servicers will be required to make a decision within 30 days of receiving a completed short sales request package. Another example is that if a servicer takes longer that 30 days on more than 10% of requests, the firm will be considered in "potential violation".

This is a great achievement towards making short sales easier for sellers, buyers and real estate agents. The question will be how will it be monitored and will the penalty be enough to make the servicers act and apply the new requirements.

For more information, contact Emmanuel Scibilia at 617-669-6277 

The Spring market is here for real estate in Boston. The acitvity has picked up. Open Houses are busy. The good weather and the low interest rates are a big factor.

More Buyers are looking and making offers and more sellers are listing their property, some properties are selling as soon as they land on the market.

Properties in some areas like Jamaica Plain, Brookline or Cambridge are even getting multiple offers.

The real estate inventory in these areas is low especially in certain types of properties like single family homes for example.

If you are  a Buyer be prepared to make quick decisions and be informed and if you are a seller, be willing to price your property well to attract buyers.

So it's not a buyer's market everywhere righ now and the glass may be half full.

For more information about the market, please contact Emmanuel Scibilia at 617-669-6277

This 2 bed condo will be coming to the market soon. It offers a garage space, central AC, a renovated Kitchen, in-unit laundry, private storage, front and extra large back deck with views of the hills, a few blocks to a commuter rail stop, shops and restaurants. It will be listed at $269,900

This is a good value for a condo with added features compared to other properties in Roslindale.

For more information, contact Emmanuel at 617-669-6277 or go to www.BostonPropertiesNow.com

Since 2009, the Downtown crossing site that used to be the Filene's store has been abandoned. For such a central location in Boston, you would think that many developers would be interested in building residential or commercial space but no one until now had either offered enough money or shown enough credentials to show that they could do it.

The previous owner had started demolition in 2008 to build condos, stores and a hotel but funding became a problem and the construction was stopped.

A New York real estate company will join a local developer to build on this excellent location.

The 2 companies will be working in the next few months to propose a plan on how they want to build and what it will be.

For more information, please contact Emmanuel Scibilia at 617-669-6277

Renovations are underway at 21 Seaverns Ave in Jamaica Plain the new owner who purchased the property in 2011 is gutting the inside and planning to have 2 renovated condos.

Located one block from Centre St and a short walk to the T, it is in a prime location in the heart of Jamaica Plain.

This is good news for buyers who are looking for condos in this desirable location as long as they can wait for the completion of the project.

For more information or to learn about other properties, contact Emmanuel Scibilia at 617-669-6277 

Walkingscore.com is a great site that rates cities and neighborhoods. It calculates the proximity to conveniences within walking distance and rates it on a 0-100-point scale.  You can check your house, your office and check the best way to get there.The site is very easy to use and very useful. You can find places like shops, offices, transit stops, restaurants, hotels, etc..

When it comes to searching for homes for sale, this is helpful because it allows to easily know all the conveniences surrounding a specific property and to know if a location is walkable or more car-dependent.

Also, if you're comparing neighborhoods or cities to live in, walkingscore.com can help you get a better idea of how easy it is to walk in different areas.

Boston has a score of 97 and it is not surprising. It is easy to walk and the public transit offers great options.