Wednesday, September 15, 2021

How to Prepare for Your Lexington MA Home Appraisal


When it comes to selling your home in Lexington MA, one of the first things to pop into your head will be the listing price. Many factors go into determining this key number, but the appraisal is what can really make or break the home sale. 

Below are four ways to get ready for your home appraisal in the area:

Check off maintenance tasks

If your home still has a long list of repairs to make, you will want to complete them before the appraisal. Even tasks like cleaning out the gutters should be marked off your list before the appraiser arrives. 

Remove clutter and clean

Just as you would before a potential buyer arrives to tour your home, the property should be free of clutter and cleaned thoroughly before an appraisal. The appraiser's opinion of your home is what could make or break the sale—if the appraised value is too far off from the listing price your deal could fall through—so be sure to make a good impression.

Put on your buyer hat

Before you decide that all is said and done with your Lexington MA home, put on your buyer hat and take a walk around the property. Use your critical eye to notice things like leaky faucets, a toilet that constantly runs, or nails that have poked through or left marks on the walls. 

Work with your agent

Your real estate agent in Lexington MA is a wealth of resources, so don't be afraid to talk to them! Your agent can often pull a list of comparable properties to give to the appraiser.

Ready to sell your home in Lexington MA this year? Give me a call today! 

Theresa D'Antuono

Sunday, August 15, 2021

Avoid Buyer's Remorse with Your Lexington MA Home


House-hunting can be a lot of fun for new buyers in Lexington MA, but your judgement can quickly get away from you. It is easy to focus more on features of the home rather than costs like upkeep and utilities and buyer’s remorse can set in after you’ve signed on the dotted line.

Keep in mind the following three common sources of homebuyer’s remorse, especially as you tour available properties in Lexington:

Awkward layout

The kitchen is one of the most important areas of the home and buyers underestimate the layout all too often. Walk around the space and think about your usual cooking habits and food prep patterns. You may think that kitchen island will be a life saver, but not if it will get in the way of your routine.

Too big of a home

Moving up to a larger home in Lexington MA involves more than just buying additional furniture. There are extra costs—like higher heating and cooling bills, more time spent cleaning and outfitting the extra rooms with furniture—that need to be considered in your decision. As a homebuyer, you may later regret the expense and upkeep of buying a bigger home.

Buying for the trends

If you purchase a home for the trends it has, like cement countertops or brass light fixtures, you may find it much harder to sell as styles change. In fact, your own style is subject to change and you will be faced with the expense of renovating. Look for classic, timeless features instead!

Feel free to contact me with any questions you have about buying a home in Lexington MA and beyond this year or for a list of available homes in the area.

Theresa D'Antuono

Thursday, July 15, 2021

How to Pay Off Your Lexington MA Mortgage Early

Lexington MA homeowners can easily feel overwhelmed at the thought of paying a mortgage over the next 30 years, but as your local real estate expert, I am happy to provide a few ways to keep those expenses down and pay off your mortgage early!

Make an extra payment

One of the simplest ways to start paying down your mortgage is to make one extra payment each month. Most lenders today do not have pre-payment penalties and just by making one full additional payment during the year could take about four years off of your loan.

Add onto your payment

Even adding as little as $100 onto your payment, applied to your principal, over the life of the loan, you could take five years off and pay tens of thousands less in interest!

Refinance into a shorter term

Refinancing from a standard 30-year loan to a 15 or even 10-year term could save you thousands in interest, especially if you locked in a rate when they were much higher. 

It's also important to note that you will need to pay one-time closing costs again to refinance, and your payment each month will likely be much higher than you're used to due to spreading out your loan amount over a smaller amount of time. 

Feel free to contact me with any questions you have about buying a home in Lexington MA and beyond this year or for a list of available homes in the area.

Theresa D'Antuono

Thursday, June 10, 2021

Who Pays Lexington MA Closing Costs?


You've found your dream home in Lexington MA, estimated your mortgage, and now it's time to go to the closing table. There is one more set of costs to consider before the deal is said and done, but as many local buyers wonder this same question, I'm here to answer— Who pays the closing costs?

The amount you owe in closing costs can easily be figured based on the mortgage loan amount of the purchase price, but below are a few more important points to note:

Buyers typically have more expenses

The majority of the Lexington MA buyer's closing costs stem from the loan. Costs including the appraisal fee, origination fee, credit report fee, recording fee, notary fee, title insurance, prepaid insurance, prepaid interest and the like will all come due at the closing table. To avoid any surprises, ask your lender to go over each expense and how it may affect your loan.

Sellers typically pay more

While buyers in Lexington MA may have more expenses outlined in their final closing cost statement, sellers tend to pay more. Why? The seller is often responsible for paying the real estate commission which is based on a percentage of the total sale price of the home.

You can negotiate costs

You can always negotiate with closing costs. For instance, instead of asking for a reduction in the purchase price of the home (which may have very little affect in your overall monthly payment), you can ask for a credit toward closing costs which can allow you to save some of the out-of-pocket expense when the time comes to write the check. 

Theresa D'Antuono

Tuesday, May 11, 2021

5 Questions to Ask Lexington MA Mortgage Lenders


Finding a lender you trust can be a process in itself, not to mention remembering to ask the proper questions. Below I've included five great questions to ask Lexington MA lenders this year as you prepare to buy a home!

1. Is now a good time for me to buy?
A lender will look at your financial situation and determine if now is the best time for you to buy a home.

2. Which debts should I pay down first? And how soon?
Taking into consideration your high-interest debts and loans, a lender will determine which will help get you a better interest rate and how soon you should begin paying them in order to secure one.

3. How much will I have to pay at closing?
Each loan comes with its own set of closing costs, so be sure to ask your lender about those that apply to yours.

4. How do I pay at closing?
Inquire about the method of payment for closing costs when the time comes.

5. Who services my home loan?
Mortgage loans are often serviced by third-party, so make it a priority to ask who will be overseeing yours.

Choosing a lender is one of the most important steps in the home buying process and these questions are just the beginning. Give me a call today for more information about buying a home!

I’m happy to help recommend lenders in our area and get you started on your home search in Lexington MA!

Theresa D'Antuono

Thursday, April 8, 2021

What a Seller's Market Means in Lexington MA


Inventory has been trending on the lower side for months and while it may be frustrating for Lexington MA buyers, it has contributed to what’s called a “seller’s market.”

A seller’s market is one in which homeowners have the upper hand, which can lead to quicker and easier sales. 

If you are a home seller this year in Lexington MA, keep in mind the following ways you can prepare for a successful sale:

Inspect and disclose
As a homeowner, it is wise to disclose any known issues associated with your property from a roof leak to a plumbing problem. 

Decide how to deal with offers
In a real estate market with lower inventory, you may find that multiple offers are on the table, especially with buyer demand like we've seen. Devise a plan for how you will deal with them or wisely defer to your real estate agent for assistance. 

Analyze the competition
Prior to listing your home in Lexington MA, I will analyze comparable properties in the area to find the best listing price. I have decades of experience in helping sellers price their homes competitively so buyers will take notice!

Questions about selling your home? Give me a call today! I’m happy to help walk you through what it takes for a successful sale!

Theresa D'Antuono

Wednesday, March 10, 2021

3 Reasons to Work with a Real Estate Agent in 2021

If you’ve been thinking about selling your home in Lexington MA2021 is the perfect time to do so!

The perks of working with an experienced agent are numerous and if your motive for considering FSBO (For Sale by Owner) is simply to save money, you might like to think again!

Your agent will do the negotiating

Think of all of the parties involved in a home sale, from the buyer and their agent to the appraiser and inspection company. There are dozens of parties to negotiate with and if you choose to go the FSBO route, you will be responsible for this all on your own.

Your agent has a strategy

An experienced agent has a strategy for selling homes. Your real estate agent knows where the buyers are looking and how to catch their eye.

You will net more money with an agent

Studies have shown working with a real estate agent can help you sell your home for more money than if you choose to do so without. For instance, a house sold by a homeowner sells on average for $210,000, while the house sold by an agent sells for $249,000.

If you are thinking about selling your home in Lexington MA this year and have questions about how I can help you achieve a successful sale, do not hesitate to reach out! 

Theresa D'Antuono

Monday, February 8, 2021

Perks of Being a Lexington MA Homeowner


When it comes to owning a home in Lexington MA, there is a long list of perks! From the opportunity to grow your family's wealth to cutting out the unpredictable costs of renting, you won't regret buying a home! As your local Lexington MA real estate expert, I'm sharing a few more of those excellent homeownership perks below:

You Won't Always Have a Monthly House Payment

As a homeowner, you can eventually eliminate the monthly payment you make on a house, contributing to your stability and savings.

You Can Predict Monthly Housing Costs

Rent rates go up, year after year. When you buy a home in Lexington MA, your monthly costs will stay relatively stable and predictable, especially if you've chosen a fixed-rate mortgage. 

Homeownership is a Tax Break

Homeowners earn certain tax advantages. Many costs of owning a home like property taxes and mortgage interest are all tax deductible. 

If you're ready to get started on your Lexington MA home search and begin to reap the rewards of homeownership, give me a call! Let's find your dream home together!

Theresa D'Antuono

Friday, January 8, 2021

Don’t Wait Until Spring to Move in Lexington MA


If you have real estate goals you’d like to achieve in the Lexington MA real estate market this year, there is no reason to wait until spring! As your Lexington MA real estate agent, I’m here to tell you that the market is hot now, and this winter is a great time to buy/sell.

1. Mortgage rates are still historically low. It’s a great time to buy and save by locking in a historically low interest rate!

2. Home equity is growing. The average equity homeowners gained since last year is $17,000. It’s a great time to be a homeowner!

3. Home prices are appreciating. It’s a great time to sell, with home prices up, inventory low, and buyers out and eager. Come spring, you may have more competition from other sellers.

Why put off your goals? Whether you want to buy, sell or both in the Lexington MA real estate market, give me a call! As your Lexington MA real estate agent, I can answer any questions you have, and guide you through the entire process.

Theresa D'Antuono