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Take the Elevator Up to this Spacious, Bright Condo with Great Outdoor Space

Take the Elevator Up to this Spacious, Bright Condo with Great Outdoor Space

Luxury living at 77 Court Street located less than a half-mile to vibrant, revitalized Newtonville with lots of shops, restaurants, and the advantage of the Commuter Rail and easy access to all highways.

Enter the two-level unit with an open layout, chef’s kitchen with waterfall quartz island, and dining and living area with sliders opening to a large deck. The cathedral ceiling adds to the drama. Stairs lead to a loft area on the second floor. Two master suites, one on the first floor and another upstairs–both with full baths and walk-in closets. Additional guest bedroom or office on the second floor off the open loft area.

This 2017 new construction building has an excellent Condo Association. Friendly lobby and shared outside space in the rear with picnic table and charcoal burning grill ready for you to enjoy.

77 Court Street, Unit 302, Newton, Offered at $1,229,000, MLS # 72803755
Eight rooms, three bedrooms, two full baths, one-half bath, Living area 2,230 sq. ft.

If you would like a Buyer Agent’s advice as you tour the home, contact me at Janet@JanetPorcaro.net or call 617-797-9497.

The listing broker is Haywood Kristiansen Group, Berkshire Hathaway HomeServices Warren Residential.

SEE THE VIRTUAL TOUR

The information in this listing was gathered from third party sources including the seller and public records. MLS Property Information Network and its subscribers disclaim any and all representations or warranties as to the accuracy of this information. Content ©2011 MLS Property Information Network, Inc.

What You Need to Know About Buying and Selling Real Estate During COVID-19

What You Need to Know About Buying and Selling Real Estate During COVID-19

Technology and good-old-fashioned creativity are helping agents, buyers, and sellers abide by COVID-19 health and safety practices while getting deals done.

Some buyers are touring houses virtually. Others visit in person while remaining at least six feet from their agent. Sellers are hosting open houses on Facebook Live. Appraisers are doing drive-by valuations. Buyers are watching inspections via video call. Masked and gloved notaries are getting signatures on doorsteps.

Here’s what home buying and selling during the pandemic looks like.

Showings Go Virtual

The rules around in-person showings vary by city, county, and state. Some allow them and some ban them. Check with your state, county, and local government to get the latest on business closures and shut-down rules.

Agents have conducted home tours via FaceTime and other similar tools for years. But these platforms have proven invaluable for home buying and selling during the pandemic. Real estate sites report a surge in the creation of 3D home tours.

“My listings typically get a 3-D virtual tour where the platform turns the space into an accurate and immersive virtual twin,” says Janet Porcaro. Keller Williams Realty. She also conducts virtual showings with buyers.

In places where in-person showings are allowed, agents wipe down door handles, offer disinfectant, and open up the house, closets, everything for a buyer. “We follow COVID guidelines from the National Association of Realtors,” Janet says.

Safe-Showing Guidelines

The NATIONAL ASSOCIATION OF REALTORS®, which produces HouseLogic, recommends only one buyer enter a home at a time, with 6 feet between each guest. NAR also recommends agents have potential buyers wash their hands, or use hand sanitizer when they come in the door. They should also remove their shoes. No children should be present at showings, either.

“We’re living in extraordinary times and unusual circumstances. If you have the ability to work, you have to be creative,” Mabél Guzmán, a Chicago real estate agent, told NBC News. Guzmán, who is also vice president of association affairs for NAR, has put together a video offering tips and strategies for virtual showings during the pandemic.

Desktop, Drive-By Appraisals

Appraisers are essential workers in many areas, so home valuations are continuing. But often remotely. New, temporary rules from the Federal Housing Finance Authority allow drive-by and desktop appraisals for loans backed by the federal government.

In a desktop appraisal, the appraiser comes up with a home estimate based on tax records and multiple listing service information, without an in-person visit. For a drive-by, the appraiser only looks at the home’s exterior, in combination with a desktop appraisal. The Appraisal Foundation has put out guidelines for handling appraisals during the pandemic. Here’s the FAQ.

And here are specific new appraisal guidelines by agency:

  • Fannie Mae
  • Freddie Mac
  • FHA
  • Veterans Administration
  • USDA Rural Development

On the other hand, some private lenders still require in-person appraisals, which are allowed even in areas with shutdown orders. Private lenders hold about 35% of first-lien mortgages, according to the Urban Institute

When appraisers come to your home, they should adhere to the Centers for Disease Control guidelines, including wearing gloves and a face mask, keeping at least 6 feet apart from anyone in the home, and asking if the homeowners have been sick or traveled recently to a COVID-19 hotspot.

Inspections Via Live Video

Inspectors are now often working alone, no buyers in tow, and using hand sanitizer and alcohol wipes. The National Association of Certified Home Inspectors advises inspectors to videotape their inspection so clients can watch it at home later, or to use FaceTime or other live video chat apps to take their clients along on the inspection, virtually. They can also call clients with their findings after they’re done.

The American Society of Home Inspectors has also issued guidelines for inspectors so they keep themselves and the homeowners safe while providing an accurate assessment of a home’s condition.

Mortgage Rates and Locks

With mortgage rates fluctuating quickly and closing times taking longer than usual, some lenders are extending mortgage rate lock periods. You can grab a good rate and hang on to it even if your lender takes longer than usual to process your loan.

But the protocol depends on the lender and the loan. Some lenders are offering this for all loans; others for refis. Check with your lender about its policy.

Employment Verification

An important step in getting a mortgage is proving the borrower has a job. In pre-coronavirus days, lenders called the borrower’s employer for verbal verification.

The Federal Housing Finance Authority, which oversees Fannie Mae, Freddie Mac, and federal home loan banks, has relaxed the rules for loans backed by the federal government because so many businesses are closed.

Lenders for federally backed loans now accept an email from an employer, a recent year-to-date paystub, or a bank statement showing a recent payroll deposit as proof of employment.

Walk-throughs

Home buying and selling during the pandemic means real estate agents can conduct the final walk-through via video with their clients. Or they can just open the home and have buyers walk through on their own. Janet says she still accompanies his clients, but stays six feet away.  Everyone’s wearing masks, of course.

When the buyers take possession, they should disinfect.

Remote Notarization Depends On Where You Live

About one-half of states have permanent remote online notarization (RON) policies. These allow a notary and signer in different locations to sign an electronic document, usually by use of video apps like Zoom or FaceTime. Notaries will watch you sign either a paper document or do an electronic signature on an e-doc, via camera.

Some states have rolled out temporary rules allowing RON. Here’s a state-by-state list of notary law updates, and the type of remote notarizations allowed. The number of states allowing remote notarization could grow as federal and state pandemic legislation expands.

Closings Get Creative

Traditional closings, where everybody gathered around a big table to sign the final papers, are no longer possible. Title companies and banks are getting super creative in dealing with the limitations.

There are drive-by closings, where the entire transaction takes place in cars. Masked and gloved notaries meet buyers in parking lots and pass documents through car windows.

“I had a closing where the buyer sat in her car the whole time. The attorney came out to her car, gave her paperwork, had her sign in her car, and my buyer never got out of her car,” Birmingham, Ala., agent Isaac McDow told WBRC television.

There are times when the agent is asked not to attend. The seller may sign a few days before the buyer, then the buyer comes and signs later.

So, Should You Buy or Sell?

The real estate industry is creatively and safely responding to the situation, and mortgage rates remain low. Your agent is a great source of information about home buying and selling during the pandemic to help you feel comfortable. But, ultimately, it’s a question only you can answer.

Excerpted from House Logic

Sellers Are Returning to the Housing Market

Sellers Are Returning to the Housing Market

In today’s housing market, it can be a big challenge for buyers to find homes to purchase, as the number of houses for sale is far below the current demand. Now, however, we’re seeing sellers slowly starting to come back into the market, a bright spark for potential buyers. Javier Vivas, Director of Economic Research at realtor.comexplains:

“Seller confidence has been improving gradually after reaching its bottom in mid-April, and now it appears to have reached an important recovery milestone…After five long months, sellers are back in the housing market; while encouraging, the improvement to new listings is only the first step in the long road to solving low inventory issues keeping many buyers at bay.”

Even with the number of homes coming into the market, the available inventory is well below where it needs to be to satisfy buyer interest. The National Association of Realtors (NAR) reports:

“Total housing inventory at the end of June totaled 1.57 million units, up 1.3% from May, but still down 18.2% from one year ago (1.92 million). Unsold inventory sits at a 4.0-month supply at the current sales pace, down from both 4.8 months in May and from the 4.3-month figure recorded in June 2019.”

Houses today are selling faster than they’re coming to market. That’s why we only have inventory for 4 months at the current sales pace when in reality we need inventory for 6 months to keep up. But, as mentioned above, sellers are starting to return to the game. Realtor.com explains:

“The ‘housing supply’ component – which tracks growth of new listings – reached 101.7, up 4.9 points over the prior week, finally reaching the January growth baseline. The big milestone in new listings growth comes as seller sentiment continues to build momentum…After constant gradual improvements since mid-April, seller confidence appears to be reaching an important milestone. The temporary boost in new listings comes as the summer season replaces the typical spring homebuying season. More homes are entering the market than typical for this time of the year.

Why is this good for sellers?

A good time to enter the housing market is when the competition in your area is low, meaning there are fewer sellers than interested buyers. You don’t want to wait for all of the other homeowners to list their houses before you do, providing more options for buyers to choose from. With sellers starting to get back into the market after five months of waiting, if you want to sell your house for the best possible price, now is a great time to do so.

Why is this good for buyers?

It can be challenging to find a home in today’s low-inventory environment. If more sellers are starting to put their houses up for sale, there will be more homes for you to choose from, providing a better opportunity to find the home of your dreams while taking advantage of the affordability that comes with historically low mortgage rates.

Bottom Line

While we still have a long way to go to catch up with the current demand, inventory is slowly starting to return to the market. If you’re thinking of moving this year, let’s connect today so you’re ready to make your move when the home of your dreams comes up for sale.

Is the Health Crisis Driving Buyers Out of Urban Areas?

Is the Health Crisis Driving Buyers Out of Urban Areas?

The pandemic has caused consumers to re-examine the components that make up the “perfect home.” Many families are no longer comfortable with the locations and layouts of their existing homes. The allure of city life (more congested) seems to be giving way to either suburban or rural life (less congested). The fascination with an open floor plan seems to be fading as people are finding a need for more privacy while working from home.

Recently, news.com released a report that revealed how buyers’ views of listings are leaning heavily to more suburban and rural properties. Here are the year-over-year percentage increases in views per property type:

  • Urban – 7%
  • Suburban – 13%
  • Rural – 16%

In the report, Javier Vivas, Director of Economic Research for realtor.com, gives these numbers some context:

“This migration to the suburbs is not a new trend, but it has become more pronounced. After several months of shelter-in-place orders, the desire to have more space and the potential for more people to work remotely are likely two of the factors contributing to the popularity of the burbs.”

Realtor Magazine also just reported that the desire to move is strongest in our city markets:

“Nearly 30% of respondents living in a high-density urban area say that the pandemic is prompting them to want to move by the end of the year…This is more than double the rate of those living in rural parts of the country, where residents are much more likely to stay put rather than to relocate.”

New Construction Also Seeing a Surge in Views

Since the pandemic has altered how consumers think about floor plans, builders are anticipating how future homes will change. In a recent press release by Zillow, it was explained that:

  • Builders believe as people spend more time at home during the pandemic, buyers are realizing which features of their homes are working and not working.
  • Homebuilders predict open-concept floor plans will be a thing of the past, as people now value more walls, doors, and overall privacy.
  • New construction, which offers the chance to personalize home features, saw its listing page views grow by 73% over last May.

The Virus is Even Impacting the Luxury Second-Home Market

It appears that COVID-19 is impacting the luxury market too. In an article released last week titled, Luxury Buyers Return to Market in Force, Danielle Hale, Chief Economist for realtor.com reported:

“Stay at home orders and social distancing have put a new value on the extra space. We’re seeing this in the luxury market as well, which could mean there is renewed interest from high-end buyers to find a second-home that is within driving distance from their primary residence.

Much like the suburbs are gaining favor with home shoppers, second home markets are seeing increased interest from luxury buyers…Views of luxury properties accelerated 56% in The Hamptons, 28% in Palm Springs and 24% in Greenwich compared to January trends.”

Bottom Line

It appears that a percentage of people are preparing to leave many American cities. Some of these moves will be permanent, while others will be temporary (such as a getaway to a second home). In either case, many consumers are on the move. Real estate professionals are ready and willing to help in any way they can.

Thai Amarin

Thai Amarin

287 Centre Street, Newton, MA
617-527-5255
ThaiAmarin

ThaiAmarin has the best Thai Food experience West of Boston. With welcoming, friendly staff and authentic Thai dishes, what’s not to love about this place?

My son and I would come here when he was little and have a special mother-son dinner. We would order Beef Satay, better known as beef on a stick, tofu noodles, and more. It was mandatory that we finish with our favorite coconut ice cream. The waiter here knew us by name and they always made sure we sat at his station. They even have a special area for larger parties with a beautifully carved table and traditional floor pillows. For one of my more significant birthdays, we made a reservation so that we could all sit on the floor and enjoy–it was awesome.

Thai Amarin of Newton offers up a clean, modern space for group dining, or intimate dining, as well as take-out and delivery to the surrounding area. There’s a free parking garage for customers, and plenty of parking in the city lot next door. Come visit us today and satisfy your love of Thai Food! ~ThaiAmarin