SEARCH 24 HOURS FOR BOSTON’S BEST REAL ESTATE DEALS RIGHT NOW!

SEARCH ALL BOSTON NEIGHBORHOODS: BACK BAY, BEACON HILL, SOUTH END, DOWNTOWN, WEST END, WATERFRONT, FENWAY, FINANCIAL DISTRICT AND ALL GREATER BOSTON REAL ESTATE AT www.ColdwellBankerBoston.com!

PURCHASING A HOME IN BOSTON ?

Just log on to www.ColdwellBankerBoston.com for free search anytime !

If you are interested in purchasing a home in any Boston’s neighborhoods please call Franklin Knotts of Coldwell Banker Residential Brokerage on Direct Voicemail # 617-796-7415 or sign up on www.ColdwellBankerBoston.com.

Please call me to assist you with purchasing or selling a home anywhere in the Greater Boston area. I can also help with all your relocation needs to anywhere in the United States. My 20 years of experience in real estate and enthusiasm to make sure my clients get the possible outcome will make your real estate decisions productive, rewarding and fun.

You can sign up on www.ColdwellBankerBoston.com

Frank Knotts’s 20 year career in Real Estate has allowed him to develop an outstanding reputation among his clients, customers and his peers in all areas of brownstone and luxury residential and investment property in the Boston market. His consistent sales performance has earned him numerous awards like International Presidents Circle member award for the top 9 % of brokers nationally at Coldwell Banker Residential Brokerage. My Business Experience: MA Licensed Real Estate Broker since 1987 and Full-time real estate professional dedicated to my clients needs everyday until you are happy!

http://www.linkedin.com/in/franklinknotts

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SEARCH 24 HOURS FOR BOSTON REAL ESTATE ON MY WEBSITE!

SEARCH ALL BOSTON NEIGHBORHOODS: BACK BAY, BEACON HILL, SOUTH END, DOWNTOWN, WEST END, WATERFRONT, FENWAY, FINANCIAL DISTRICT AND ALL GREATER BOSTON REAL ESTATE AT www.ColdwellBankerBoston.com!

PURCHASING A HOME IN BOSTON ?

Just log on to www.ColdwellBankerBoston.com for free search anytime !

If you are interested in purchasing a home in any Boston’s neighborhoods please call Franklin Knotts of Coldwell Banker Residential Brokerage on Direct Voicemail # 617-796-7415 or sign up on www.ColdwellBankerBoston.com.

Please call me to assist you with purchasing or selling a home anywhere in the Greater Boston area. I can also help with all your relocation needs to anywhere in the United States. My 20 years of experience in real estate and enthusiasm to make sure my clients get the possible outcome will make your real estate decisions productive, rewarding and fun.

You can sign up on www.ColdwellBankerBoston.com

Frank Knotts’s 20 year career in Real Estate has allowed him to develop an outstanding reputation among his clients, customers and his peers in all areas of brownstone and luxury residential and investment property in the Boston market. His consistent sales performance has earned him numerous awards like International Presidents Circle member award for the top 9 % of brokers nationally at Coldwell Banker Residential Brokerage. My Business Experience: MA Licensed Real Estate Broker since 1987 and Full-time real estate professional dedicated to my clients needs everyday until you are happy!

http://www.linkedin.com/in/franklinknotts

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YOU CAN SEARCH 24 HOURS FOR BOSTON REAL ESTATE ON MY WEBSITE

BACK BAY, BEACON HILL, SOUTH END, DOWNTOWN, WEST END, WATERFRONT, FENWAY, FINANCIAL DISTRICT AND ALL GREATER BOSTON REAL ESTATE !

PURCHASING A HOME IN BOSTON ?
www.ColdwellBankerBoston.com

If you are interested in purchasing a home in Boston’s neighborhoods please call Frank Knotts of Coldwell Banker Residential Brokerage on Direct Voicemail # 617-796-7415 or sign up on www.ColdwellBankerBoston.com.

Please call me to assist you with purchasing or selling a home anywhere in the Greater Boston area. I can also help with all your relocation needs to anywhere in the United States. My enthusiasm and experience in real estate will make your real estate decisions productive, rewarding and fun. You can sign up on www.ColdwellBankerBoston.com

Frank Knotts’s 20 year career in Real Estate has allowed him to develop an outstanding reputation among his clients, customers and his peers in all areas of brownstone and luxury residential and investment property in the Boston market. His consistent sales performance has earned him numerous awards like International Presidents Circle member award for the top 9 % of brokers nationally at Coldwell Banker Residential Brokerage. My Business Experience: MA Licensed Real Estate Broker since 1987 and Full-time real estate professional dedicated to my clients needs everyday until you are happy!

http://www.linkedin.com/in/franklinknotts

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Boston Public Gardens Views are Amazing!

You have to preview this home if you love to have Boston Public Garden views!

Spectacular Views overlooking the Boston Public Garden views from Living Room Bay Windows!

Located on Arlington Street in a professionally managed and immaculate elevator building.

This beautiful appointed and oversized 1400 square foot 2 bedroom has 1.5 bathrooms, freshly updated with Brand NEW kitchen, high cathedral ceilings, enormous master bedroom, washer/dryer in unit and breath-taking views you will enjoy all year long! Available Right NOW.

Please call to set up a private and confidential showing at your convenience:
Franklin Knotts
Coldwell Banker
Cell # 617-365-1151
Voicemail # 617-796-7415

19 Arlington Street at Newbury Street

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Ritz Carlton Boston - This is the Best Deal in Boston!

The Residences at the Ritz-Carlton
Boston Commons – North Tower
1 Avery Street
Residence #11A

“Quintessential Five-Star Luxury”

Spectacular Residences at the Ritz Carlton on Boston Commons. This sunny & oversized corner unit features the ultimate Five Star hotel services, LA Sports Club and restaurants on site. Unit has Brazilian cherry flooring, marble baths, state of the art gourmet kitchen with Sub-Zero Refrigerator, Viking gas cook top and oven, Miele dishwasher and Poggenpohl cabinetry. Located in heart of the city with everything Boston has to offer at your front door. Includes one valet parking spot!

This exquisite home features:

Designer kitchen with Viking gas range, Subzero refrigerator, Miele dishwasher, granite counters and beautiful Poggenpohl cabinetry
Rich Brazilian cherry wood floors
Floor-to-ceiling windows
Gracious entry foyer with generous closet space
Functional floor plan for today’s lifestyles.
Two large marble baths
Luxurious master bedroom suite
State-of-the-art washer/dryer
Central air conditioning
24-hour, white-glove concierge services, valet, hotel, restaurants and Sports Club LA
Partial views of the Boston Commons
Five-star services of the Ritz Carlton Hotel and preferred owner privileges at Ritz Carlton Hotels worldwide
One valet garage space is included

Price: $1,095,000
Size: 1382 +/- square feet
Condo Fee: $1,473

Please call exclusive Agent, Franklin Knotts, Coldwell Banker to set up a private showing or questions on Cell # 617-365-1151 or Voicemail # 617-796-7415

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Best Boston Real Estate Agent to find your Best Deal in Boston!

BOSTON REAL ESTATE: BACK BAY, BEACON HILL, SOUTH END, DOWNTOWN, WEST END , WATERFRONT, FENWAY, FINANCIAL DISTRICT AND ALL GREATER BOSTON REAL ESTATE !

PURCHASING A HOME IN BOSTON ?
Go To Free Site - www.ColdwellBankerBoston.com

Please call me to assist you with selling or purchasing a home anywhere in the Greater Boston area. I can also help with all your relocation needs to anywhere in the United States. My enthusiasm and experience in real estate will make your real estate decisions productive, rewarding and fun. You can sign up on www.ColdwellBankerBoston.com

Frank Knotts’s 20 year career in Real Estate has allowed him to develop an outstanding reputation among his clients, customers and his peers in all areas of brownstone and luxury residential and investment property in the Boston market. His consistent sales performance has earned him numerous awards like International Presidents Circle member award for the top 5 % of brokers nationally at Coldwell Banker Residential Brokerage. My Business Experience: MA Licensed Real Estate Broker since 1987 and Full-time real estate professional dedicated to my clients needs until you are happy!

If you are interested in purchasing a home in Boston’s neighborhoods please call Frank Knotts of Coldwell Banker Residential Brokerage on Direct Voicemail # 617-796-7415 or sign up on www.ColdwellBankerBoston.com.

http://www.linkedin.com/in/franklinknotts

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The Grass Really is Greener with WEICHERT, REALTORS®-Synergy

Are there any members of out there that want to come home, where not only is the baseball better, but SO IS THE LOCAL REAL ESTATE MARKET!!!

in Wellesley Hills, MA is HIRING NEW AND EXPERIENCED AGENTS.

We are an exciting, new affiliate of Weichert, Realtors that just started up on May 1, 2008 and are looking for agents who believe in designated agency and who have what it takes for a successful career in real estate. Due to the ENORMOUS SIZE of our internet generated leads from http://synergy-metrowest.com and http://weichert.com, we rely on agents who can take, work and close leads throughout the day and on weekends.

Per the MLS, OUR AVERAGE HOME SALES PRICE IS $960,000 IN WELLESLEY, MA. We offer top commission splits based on DOLLAR VOLUME, NOT COMMISSIONS GENERATED.

INTERESTED? INTRIGUED? Call me to learn more or set up an appointment to meet with me in person.

Our Founder, Jim Weichert says “now is the time to buy” and you’d better believe it. Experienced members of the Synergy team are also eligible to participate in referral business from Weichert Relocation Resources, Inc. the WORLD’S 2nd largest mobility company.

I can’t offer you a relocation package, but I can offer you HOPE and OPPORTUNITY. Do you have that right now where you are at?

Call me anytime - 781-694-3513 or e-mail me at martin@synergy-metrowest.com. I’d love to speak with you.

Martin E. Kalisker, Broker/Owner

WEICHERT, REALTORS®-Synergy

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Where Do Mortgage Rates Come From?

Where do mortgage rates come from? Not the 10 year nor 30 year Treasury as many think.

Why and how mortgage rates change in the marketplace is often misunderstood – even by the news media. They often report mortgage rates will go down when the Federal Reserve announces a rate cut when sometimes the opposite can happen.

How do Federal Reserve rate changes affect mortgages?

Fed rate changes don’t directly affect mortgage rates. Instead, they affect the inflation expectations of investors. The role of the Federal Reserve in our economy is to control inflation so we have long-term economic growth and prosperity. If the economy grows too fast, we get inflation. If the economy shrinks, we have recession. The Fed’s main tool in managing the economy is to change short-term interest rates. They can directly change the rate banks charge each other for loans and the rate the Fed charges banks. Banks eventually change the rates they charge customers for certain loan and savings products as it gets cheaper or more expensive for them to borrow money. Loans indexed to the Prime rate are usually the first to change. The Fed lowers rates to speed up the economy. Lower rates encourage more business and consumer spending as loans become cheaper and saving becomes less profitable. The Fed raises rates to slow the economy. Higher rates discourage spending as borrowing becomes more expensive and saving money becomes more profitable.

If investors think Fed rate changes will make the economy grow fast enough to cause inflation, the mortgage rates they demand will go up. If they think the Fed’s actions will reduce inflation, mortgage rates are likely to fall. There are times when mortgage rates will go the opposite direction of Fed rate changes based on the inflationary impact investors expect.

What do investors have to do with mortgages?

Did you know that individuals and businesses can invest in securities backed by people’s mortgages? Institutions that make mortgages frequently sell them to investors. The mortgage interest homeowners pay provides income to buyers of mortgage-backed securities. That buying and selling of mortgages gives lenders a ready source of money for making mortgage loans. As a result, far more people can get mortgages and buy homes than would otherwise occur.

How do mortgage investors influence mortgage rates?

Investors require a return on their money in exchange for the risk they are taking. That required rate of return directly impacts mortgage rates. Simply put, if the rate offered on a mortgage-backed security is below the return investors require, they won’t buy it at face value. To get face value, the institution selling the mortgage must raise their mortgage interest rates to a level that meets the required rate of return.

The rate is generally based on two kinds of risk – inflation expectations and risk the borrower won’t repay on time.

During this period of credit risk and increased property foreclosures, mortgage backed securities are deemed risky and therefore the selling institution has to pay a higher rate to attract investors. This helps foster higher mortgage rates at the consumer level.

How inflation expectations of mortgage investors affect rates?

Inflation occurs when prices for goods and services rise over time. As prices rise, the purchasing power of a dollar falls. Investors want to ensure that inflation won’t erase the value of the earnings on their investments. If they expect inflation to increase, they’ll want a higher rate. If they expect inflation to decrease, they’ll accept less. As mentioned before, Fed rate changes are a big factor in those expectations.

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Bye Bye Newspaper Advertising For Real Estate

As further evidence of the shift to online advertising, the Los Angeles Times has announced it will no longer publish its weekly real estate section. Click here for the entire news story.

Is Boston next? As a Realtor®, I am often asked by Sellers and Agents alike, why I am reluctant to use the newspaper for marketing and listing of properties for sale. Besides the high cost and low return on the advertising dollar spent, over 80% of homes are sold because somebody saw the listing on the Internet.. What could be more convincing?

I understand that it used to be fun to sit down with a cup of coffee on a Sunday morning, circling open house ads, but that was literally, yesterday’s news. Today’s buyers are more motivated to simply drive around an area of town that they like to look for open house signs so that they can do some research on the Internet before they call their Buyer’s Agent (notice I did not say the Listing Agent, because listing agents represent the seller - not the buyer, so why would you call the listing agent to help you buy the property?)

With decreasing readership in the print editions of newspapers and magazines, proactive Realtors® are spending their advertising dollars more wisely. It sounds like the LA Times just helped agents in Southern California make the inevitable decision. Wow, two great things to come out of LA this week - first the demise of the real estate section in the paper, then the news that they took Manny out of Boston. Maybe those earthquakes are making people in Lala land think more rationally. Well, maybe not. They did take Manny - who now has his IQ printed on his jersey (99).

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FAQs about HOPE For Homeowners Legislation

This is hot off the press news. President Bush just signed into law the HOPE For Homeowners legislation on July 30, 2008.

When does the program start?

The legislation is effective upon enactment; the HOPE for Homeowners program goes into effect on October 1, 2008. The Oversight Board will write more detailed program rules.

What agency is administering it? Will people be calling state offices or federal? Or will people just contact their lenders directly?

The Federal Housing Administration (FHA) will administer the program. The process begins when a homeowner or servicer of an existing eligible loan contacts an FHA-approved lender. Homeowners can contact lenders or servicers directly or through counselors (for which the bill provides another $150 million). It is important to note that this is a voluntary program.

Do borrowers have to use their current lender, or can they switch to another?

Borrowers may use any FHA-approved lender, as long as their current lender or investors agree to take the write-down in value.

Is it just subprime loans that can be refinanced? When did the bad loan have to have been taken out for them to qualify?
Any owner-occupants who are unable to afford their mortgage payments are eligible for the program. No investors or investor properties will qualify. Homeowners must certify, under penalty of law, that they have not intentionally defaulted on their loan to qualify for the program and must have a mortgage debt-to-income ratio greater than 31 percent as of March 1, 2008. Lenders must document and verify borrowers’ income with the IRS for the new loan. Loans had to have been originated before January 1, 2008.

What percentage of the current market value of the house must the loan be less than?

The size of the new FHA-insured loan will be the lesser of the amount the borrower can afford to repay, as determined by the current affordability requirements of FHA, or 90 percent of the current value of the home. Loans must be 30-year, fixed rate loans.

How will the interest rate be determined for the new 30-year fixed-rate loan?

Interest rates will be determined by the market. Because loans are insured by FHA, rates are expected to be very competitive.

What are the fees involved, and when are they paid? There is an annual default insurance premium, isn’t there?

Borrowers pay an insurance premium of 1.5% of the principal, which will be included in the monthly payment. In addition, the current lender makes an upfront payment of 3% of the principal to FHA.

Can the owner re-sell the house right away? Is there a waiting period? How much of the proceeds does the owner give up if they sell, and who gets those?

Borrowers must share the newly-created equity and future appreciation equally with FHA. This obligation will continue until the borrower sells the home or refinances the FHA-insured mortgage. Moreover, the homeowner’s access to the newly created equity will be phased-in over 5 years. If borrowers sell or re-finance within a year, they will pay the FHA 100% of any profit they may realize.

How many borrowers will be able to take advantage of the program? Is it first-come, first-served for qualifying borrowers?

The program is authorized to insure up to $300 billion in mortgages and is expected to serve approximately 400,000 homeowners.

Can a borrower be declined if they also have a home-equity line of credit? Is there any help available to also pay those off?

Borrowers have to retire any debt on the home to qualify for the program.

When does the program end?

The program will sunset on September 30, 2011.

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