Should I Update My House Before I Sell It? [INFOGRAPHIC]

Some Highlights If you’re deciding whether you should make updates before you sell your house, lean on your agent to be your guide. If the market is flooded with houses for sale, updates may be necessary for your house to stand out. In our current sellers’ market, the added expenses might not be worth it. We recommend expert advice on which updates are important in today’s market.

How Sellers Win When Housing Inventory Is Low

In today’s housing market, the number of homes for sale is much lower than the strong buyer demand. As a result, homeowners ready to sell have a significant advantage. Here are three ways today’s low inventory will set you up for a win when you sell this season. 1. Higher Prices With so many more buyers in the market than homes available for sale, homebuyers …

Knowledge Is Power When It Comes to Appraisals and Inspections

Buyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. That’s because high buyer demand and low housing supply are driving intense competition and leading some buyers to consider waiving those contingencies to stand out in the crowded market. But is that the best move? Buying a home is one of the most important transactions in …

Why a Wave of Foreclosures Is Not on the Way

With forbearance plans coming to an end, many are concerned the housing market will experience a wave of foreclosures similar to what happened after the housing bubble 15 years ago. Here are a few reasons why that won’t happen. There are fewer homeowners in trouble this time After the last housing crash, about 9.3 million households lost their homes to a foreclosure, …

Experts Project Mortgage Rates Will Continue To Rise in 2022

Mortgage rates are one of several factors that impact how much you can afford if you’re buying a home. When rates are low, they help you get more house for your money. Within the last year, mortgage rates have hit the lowest point ever recorded, and they’ve hovered in the historic-low territory. But even over the past few weeks, rates have started to rise. …

What’s Happening with Home Prices?

Many people have questions about home prices right now. How much have prices risen over the past 12 months? What’s happening with home values right now? What’s projected for next year? Here’s a look at the answers to all three of these questions. How much have home values appreciated over the last 12 months? According to the latest Home Price Index from CoreLogic, home values …

UNDERSTANDING RECIPROCAL LICENSURE IN MASSACHUSETTS and NEW ENGLAND Part 2

Part 2: Massachusetts Licensees Obtaining Real Estate Licensure in Other States If you hold a real estate license in Massachusetts, you may be interested in practicing in our surrounding states. Many MA licensees also practice in CT, RI, NH and beyond! Let’s take a look at the requirements. Get a reciprocal real estate in CONNECTICUT An applicant must have passed …

UNDERSTANDING RECIPROCAL LICENSURE IN MASSACHUSETTS and NEW ENGLAND Part 1

Part 1: Licensees From Other States Obtaining A MA License Real Estate licensees from other states are often interested in their eligibility to do business in Massachusetts. Do you need to take 40 hours of Massachusetts required education? What about taking the exam? Is my previous experience recognized? The easy answer is…it varies!!! Let’s take a look at our New …

Proposed First Down Payment Homebuyer Tax Credit

Additional help could be on the way for first-time homebuyers. As a candidate, President Joe Biden proposed the First Down Payment Homebuyer Tax Credit, which could be significant in aiding potential first-time homebuyers. For starters, the credit could be used to cover all or a considerable share of a buyer’s down payment. With home prices rising ever higher, any down …

Exciting News About Your Real Estate Exam!

Effective January 27th you can register to take your Real Estate Exam at home!! PSI and the Massachusetts Division of Professional Licensure / Board of Real Estate have devised an acceptable procedure that allows you to test at home!  The on-line exam process will begin on January 28th. Please contact PSI with any additional questions or comments. On-site exams are …

New Eviction Rules: What You Need to Know

January 6, 2021 – By Jonathan Schreiber MAR On December 31, Governor Baker signed into law Chapter 257 of the Acts of 2020 which makes important changes to eviction rules and procedures that will be in effect until the end of the COVID-19 state of emergency. The changes include: • All notices to quit for nonpayment of rent must be …

Fair Housing Update

In the Fall of 2020, the Trump Administration implemented changes affecting the requirements affecting complainants and burden of proof. Here is a brief summary. As licensees, we suggest you keep up to date at vww.hud.gov for additional Fair Housing links plus more details and up to date information. “Through its final rule, HUD aims to adopt the disparate impact analysis …

The Rehabbers’ Guide to 203(k) Loans

Tight-fisted lenders have made home equity loans harder to come by. So what’s a fixer-upper to do? Meet the 203(k) loan. Lenders’ weak stomach for extending credit doesn’t have to sour your upgrade dreams. The old but new again FHA 203(k) loan rolls remodeling and mortgage costs together, whether you’re buying or refinancing an existing home loan to pay for …

Know Your Loan Options for Your Clients! FHA Loan Limits Increase For 2021! And much more!!

The Federal Housing Administration has released the 2021 loan limits for FHA mortgages. In most of the U.S., the 2021 FHA loan limit for one-unit properties will be $356,362, an increase from $331,760 in 2020! Certain high-cost areas will have higher limits, reflecting the higher price of housing. Check out the FHA’s list for complete details at https://www.hud.gov/ FHA loans …

Massachusetts Eviction and Foreclosure Moratorium For COVID-19 Emergency Signed Into Law

This is a great article by Rich Vetstein regarding the recent legislation passed in Massachusetts. This article applies to both property owners and renters. by RICH VETSTEIN on APRIL 20, 2020 Unprecedented, Sweeping Prohibition on Residential and Commercial Evictions Enacted Without Corresponding Mortgage and Tax Relief to Property Owners In an unprecedented, sweeping, and likely unconstitutional move, the Massachusetts Legislature has passed, and …