Claire LeBlanc - REALTY EXECUTIVES



Posted by Claire LeBlanc on 7/8/2020

Image by David Pereiras from Shutterstock

Your FICO score is a key factor used to determine if you qualify for a mortgage. The Fair Isaac Corporation (FICO) is the creator of the most common credit score used by home loan providers. The algorithm used to create your score is a closely-guarded industry secret. But in general, it factors in your payment history, debt burden, length of credit history, and recent applications for credit. Your FICO score is powerful but there are things it cannot account for.

It does not indicate how much you can afford.

It does not reveal how much you have saved up for a down payment.

It does not understand your ability to budget.

It does not display your current bank account balances.

What does it do?

Your FICO score tells you (and your potential lender) how you have handled credit over the length of your credit history. Scores range from 300 (poor) to 850 (excellent). The primary factors that can hurt your credit score are late-payments and the debt-to-credit ratio.

Late Payments

Make your payments on-time every month especially if you are hoping to secure a mortgage. The more on-time payments you have the better your score will be. In some cases, on-time payments can dilute the impact of late-payments in your credit history. Newer incidences can be more detrimental to your score than older late-payments. Payments that are received 60, 90, or 120 days late count more against you than those that are late by over 30 days.

Credit Utilization

The total amount you owe is a consideration but the relationship between how much you owe and the credit available to you weighs more heavily when it comes to determining your FICO score. Another term for this is your credit utilization. Your debt-to-credit ratio is a measure of how much of your available credit you are using within a 30-day window. The higher the ratio of debt compared to available credit, the more likely you are to have a lower FICO score.

For instance, letís say you and your partner both owe $1000 on credit cards. Your available credit is $1500, making your credit utilization two-thirds or 66 percent of your available credit. Your partnerís available credit is $4000, making their credit utilization 25 percent of their available credit. If all other factors are equal, your partnerís FICO score will appear higher. 

Ask your real estate professional for recommended financial resources in your area.





Posted by Claire LeBlanc on 7/1/2020

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Photo by Tania Van den Berghen via Pixabay

When your kitchen or another part of your home could use a bit more light, consider adding skylights instead of lamps or light fixtures. Skylights can provide your home with some important benefits. As long as you have these lights properly installed, they can offer the following advantages for your home. 

 

Increase Natural Light

Installing skylights results in more natural lighting in your home. Exposure to natural light is associated with several benefits, including improved mood. This can be a major benefit during winter when it’s hard to get enough exposure to sunlight thanks to shorter days. Natural light from skylights can also create a more pleasant ambiance in your home, resulting in a more cheerful and calming environment. If you’re planning on selling your house, keep in mind that having plenty of natural light can improve your home’s appearance and make a great impression on home buyers during showings and open houses. 

 

Reduce Energy Usage

Skylights can help you save on the amount of energy your home normally uses. With skylights installed, you’ll gain solar heat from the sun during the winter months, which means you won’t have to run your heating system as much. This reduces wear and tear on your heating system and leads to lower heating bills. When it’s warm out, you can open your skylights to get cross-ventilation inside your home, which helps cool it off. Doing this can reduce your air conditioning bills during summer. 

 

Improve Ventilation

Skylights that open up provide your home with improved ventilation. Throughout the day, hot air rises and gathers near the top of a room. This can make rooms feel stuffy and uncomfortable, especially when it’s hot out. Skylights give you a way to release this hot air while also letting in fresh air from outside, resulting in better ventilation and improved indoor comfort. 

 

Make Rooms Feel Bigger

Having a skylight or two in your home can make the room they’re in seem more spacious. While this might not be a concern in a larger home, it can do wonders for smaller homes or older homes that don’t have an open floor plan. 

 

Offer Outdoor Views

Skylights in your ceiling give you a great way to enjoy views of sunny skies during the day and starry skies at night. Depending on where you live and where you have your skylights placed, you might also have good views of forests, mountains or other natural surroundings. 

 




Categories: Uncategorized  


Posted by Claire LeBlanc on 6/25/2020


16 McDonald St, Dedham, MA 02026

Multi-Family

$559,900
Price

2
Units
2,099
Approx. GLA
Great investment property or owner-occupancy! The main level offers a common entry hall with access to each unit. 2 units, up and down.This 2 family has some beautiful features of yesteryear; high ceilings, sunny bay windows, built in cabinet, hardwood flooring and some original detailing and moldings. Unit 1(left side) has,1 bedroom, good sized eat in kitchen, living rm, dining rm,1 full bath & laundry area. Unit 2 (right side) is upstairs, updated, spacious kitchen, wood cabinets, eat in kitchen area and recessed lighting! Good sized living rm, dining rm has bay window, 3 bedrooms,1 full bath. Wood flooring, tile, carpeting throughout. Newer windows, gas heat, electric has separate meters. Good sized grassy yard, level corner lot, shed, tandem parking for 4-5. Located 1/2 mile to the purple commuter rail, Readville Station.Short distance to Legacy Place Rt.128 & all major highways. House being sold as is. Note:DO NOT USE BACK STAIRCASE. Showings begin 6/26, offers due 7/1 by noon.
Open House
No scheduled Open Houses






Tags: Real Estate   Multi-Family   Dedham   02026  
Categories: New Homes  


Posted by Claire LeBlanc on 6/24/2020

Image by Wellnhofer Designs from Shutterstock

When youíre relocating you search for a property and learn the real estate market in your new area. Are you also looking at what the general cost of living is in your new city? The cost of living can be very different from state to state and city to city. Here are some common daily expenses you may want to research as part of your relocation planning. 

Groceries

The cost of groceries and home goods can vary drastically from place to place. If youíre moving to a new city or state your general cost of goods may increase or decrease depending on where you move. This is a cost many people donít consider when thinking about the affordability of a new area. The price of milk might be 50% more or even double the cost from where you live now. The same shampoo you purchase in California might be half of the cost in Arizona. A change in sales tax will also make a difference in what you pay for goods. To gather information about how this may impact you, check into a few retail stores in your target area (or online if you canít be local) and make some price comparisons based on the products you purchase regularly.

Transportation

Gas prices can make a difference to your monthly costs. On the coasts, prices can be as high as $4.00 or more per gallon, but in the Midwest and South prices can be under $2.00 a gallon. If youíre moving to a location where gas prices increase consider those additional fill-ups when determining what commute you can manage. Is it most cost-effective for you to live further away from your workplace in a less expensive home? Does it make more sense to find a home closer to work allowing for a shorter commute or the use of a public transportation option? Consider also the amount of time youíre willing to spend on your commute each day.

Food and Entertainment

The amount you spend on entertainment and dining each month may change when you move. In some places a higher minimum wage is set for service industry workers, so a lower tip percentage is common. In other locations the service industry wage is quite low, so a higher tip percentage is the norm. Explore the activities you enjoy while you house hunt to get a better idea of what differences you might experience in your new location.

Services

Finally, the cost of general services can affect your bottom line. From your new hairdresser to housekeeping services to home repair companies you could see a change in pricing. If you frequently use these types of services or would like to, consider how the average cost for them fits into your monthly budget. 

These cost differences may not seem like a big factor, but they can impact your monthly expenses. If youíre moving to a more affordable place you may save enough on basic goods and services that you can increase your mortgage budget. However, if youíre relocating to a city with a higher cost of living, you may need to revisit your monthly budget to see what you can really afford.




Categories: Uncategorized  


Posted by Claire LeBlanc on 6/17/2020

Photo by Wulfman65 via Shutterstock

When youíre thinking about purchasing a home, an old house versus that new one is something to ponder. If youíve thought about buying an older home, consider each of these areas before making an offer. Have your agent write contingencies into your contract, and by all means, donít forego an inspection.

Consider HazMat

Say what? A lot of folks donít realize that over the years, materials routinely used in homebuilding fall out of favor and become potential issues when you decide to renovate or remodel your older home. Some examples of hazardous materials are:

  • Lead pipes. Once used for standard plumbing, even sealed lead pipes can eventually allow toxic lead to leach into your water. Replacing all the plumbing in your home is an extensive and expensive process entailing removing floors and walls, tearing out concrete, and digging up landscaping. Before making an offer, have the water tested for lead.
  • Lead pipes arenít the only problem. Older homes often have lead paint as well. Although it may be painted over with a non-hazardous paint, if paints chip and reveal the older materials, you might be exposed to higher concentrations of lead than you realize.
  • Asbestos. Homes built before the 1980s often had asbestos in the ceiling texture and insulation. Removing asbestos is an expensive side cost to any renovation. In addition to interior asbestos, many homes have asbestos siding and roofing materials that require HazMat removal as well. If the existing materials remain in place, thereís no law against them, but if you disturb them to install an addition or reface your home, they require proper mitigation.

Structural Challenges

A common issue with older homes is damage to the foundation from years of shifting ground, water seepage and expansion, and improper additions. When more weight sits on a home, from a new roof installed over the top of the old one, for example, the extra weight puts stress on bearing walls and the foundation. Footers exposed to erosion from running water might not continue to carry that weight. You wonít notice it at first, but eventually, youíll find yourself repairing cracks in the plaster more frequently. An experienced home inspector will detect potential problems, so pay attention to the inspectorís report about potential, future issues with a home.

Lastly, older homes have long-term exposure to pests. Termites, carpenter ants, and other wood-damaging pests can hide their damage from you, but an inspector knows where to look. Along with disclosure of asbestos and lead issues, insist on pest control mitigation in your contract for an older home. Let your agent know how old a home youíre willing to purchase to avoid these issues.




Tags: Homebuyer   Renovation   old house  
Categories: Uncategorized  




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