Judy Moore - Barrett Sotheby's International Realty



Posted by Judy Moore on 4/4/2018


15 Homestead Street, Lexington, MA 02421

Single-Family

$1,724,000
Price

12
Rooms
6
Beds
5
Baths
Just like new! Exceptional young architect designed Colonial w/extensive custom millwork & exquisite detail throughout, beautifully landscaped level lot in coveted neighborhood on lightly travel street. Unprecedented attention paid to quality, scale & flow, 6 BR 5 BTH home w/smashing kitchen w/marble & honed granite countertops, quality stainless steel appliances, huge center island, breakfast area. Well appointed family room w/10' tray ceiling w/cove lighting, gas FP, handsome custom cabinetry. 1st floor office w/adjoining marble bath provides guest room option, formal LR/DR's accented w/substantial moldings, wainscoting & columns. Master suite creates peaceful oasis w/serene sitting area, luxurious spa-like bath w/air tub & marble countertops. Fun for all in 3rd fl playroom w/teenage suite. Impressive hm w/Hunter-Douglas window treatments, heated garage, newer storm doors, extensive landscaping & more! Walk to golf courses, Hayden Rec, school, Center.
Open House
Saturday
April 07 at 12:00 PM to 2:00 PM
More Open Houses
Cannot make the Open Houses?
Location: 15 Homestead Street, Lexington, MA 02421    Get Directions

Similar Properties





Categories: Open House  


Posted by Judy Moore on 4/4/2018


15 Homestead Street, Lexington, MA 02421

Single-Family

$1,724,000
Price

12
Rooms
6
Beds
5
Baths
Just like new! Exceptional young architect designed Colonial w/extensive custom millwork & exquisite detail throughout, beautifully landscaped level lot in coveted neighborhood on lightly travel street. Unprecedented attention paid to quality, scale & flow, 6 BR 5 BTH home w/smashing kitchen w/marble & honed granite countertops, quality stainless steel appliances, huge center island, breakfast area. Well appointed family room w/10' tray ceiling w/cove lighting, gas FP, handsome custom cabinetry. 1st floor office w/adjoining marble bath provides guest room option, formal LR/DR's accented w/substantial moldings, wainscoting & columns. Master suite creates peaceful oasis w/serene sitting area, luxurious spa-like bath w/air tub & marble countertops. Fun for all in 3rd fl playroom w/teenage suite. Impressive hm w/Hunter-Douglas window treatments, heated garage, newer storm doors, extensive landscaping & more! Walk to golf courses, Hayden Rec, school, Center.
Open House
Saturday
April 07 at 12:00 PM to 2:00 PM
More Open Houses
Cannot make the Open Houses?
Location: 15 Homestead Street, Lexington, MA 02421    Get Directions

Similar Properties





Categories: Open House  


Posted by Judy Moore on 4/1/2018

If you have been looking for homes online for some time, you may be tired of viewing them on a screen. While online home searches are helpful and a perfect starting point for finding a home, you need to see a home to get a feel for it. Whether you are attending open houses or have set up private showings with your real estate agent, there are certain things that you can do to make the most of touring potential homes. You only have a limited amount of time to see a home. Your agent wonít wait around for you all day while you explore every nook of a house and people still live in the house. Thereís a good chance someone may need to come back in at some point! Read on for tips on how to use your time and resources wisely when it comes to searching for a home to buy.


Donít Waste Time


First, you should select the right homes to view. Donít waste your time looking at properties that you canít afford or arenít the right size for you. From your online search, make a list of properties youíd like to see in person. You can narrow down your search quickly by doing the following:


Carefully read property details

Check out the photos of the home in detail

Find out from your realtor if there are any comparable properties for sale


Know What You Can Afford


If you canít afford a property, donít waste your time looking at it. Be realistic in your home search, finding the properties that will suit your needs and your budget. Remember that many factors go into a listing price for a home including the location, the size of the house, the neighborhood, the amenities, and more. The bottom line is to stick with homes that fall in your budget to make your search much more manageable.


Work With Your Realtor To Schedule Home Showings


Make use of your agent. They can schedule private showings for you or alert you to upcoming open houses. You can send your agent a handful of listings that youíre interested in, and they can make a schedule for you to maximize your time seeing properties in specific locations.


Hiring a real estate agent is an essential step in buying a home. They can help you to find and view the properties that could potentially come your next home.    





Categories: Uncategorized  


Posted by Judy Moore on 3/25/2018

You can ask any homeowner-buying and owning a home is expensive. Mortgage payments, property taxes, utilities, and other bills quickly add up.

If you want to buy a home but donít have a large down payment saved, odds are youíve discovered something called private mortgage insurance (PMI).

PMI is an extra monthly payment that you make (on top of your mortgage payment) when you donít have enough to make a large (20%) down payment on your home.

However, if you want to buy a home and donít want to tack on an extra monthly payment for PMI, you have options. In todayís post, Iím going to talk about some ways to avoid paying PMI on your mortgage so you can save more money in the long run.

PMI Basics

Before we talk about getting rid of PMI, letís spend a minute on what to expect when you do have to pay it.

PMI typically costs 0.30% to %1.15% of your total loan balance annually. That means that your PMI payments will decrease a moderate amount as you pay off your loan.

Furthermore, once you have paid off 22% of your loan, your PMI will be cancelled and youíll only be responsible for your regular monthly mortgage payments.

Getting PMI waived early

With conventional loans, you can request to have your PMI cancelled once youíve paid off 20% of the mortgage. However, many buyers with PMI are using some form of first-time buyer loan, such as an FHA loan.

With an FHA loan, youíll be stuck with PMI for the lifetime of the loan if you donít make a down payment of 10% or more. Thatís a lot of PMI payments, especially if you take out a 30 year loan, and it can quickly add up.

If you have an FHA loan with FHA insurance, the only way to cancel the insurance is to refinance into a non-FHA insured loan. And remember--refinancing has its own costs and complications.

Making it to the 20% repayment mark

On conventional loans, the best way to get rid of PMI is to reach your 20% repayment mark as soon as possible. That could mean aggressively paying off your mortgage until you reach that point.

This can be achieved by making extra payments, or just paying more each month. However, you donít want to neglect other debt that could be accruing costly interest in favor of paying off your loans. Make sure you do the math and find out which debt will be more expensive before neglecting other debt.

Once you do reach the 20% repayment mark, youíll have to remember to apply to have your PMI canceled with your lender. Otherwise, it will be canceled automatically at 22%.





Posted by Judy Moore on 3/18/2018

You know when you buy a home that your credit score matters, but do you see all of the numbers that matter to your financial picture when youíre buying a home? Your debt-to-income ratio is one of the most critical figures that will influence if you can get a mortgage and what type of rate you can get. 


What Is A Debt-To-Income Ratio?


This number is exactly what it states: the ratio of debt divided by your gross monthly income. Your credit report doesn't include any of this income information. This number is actually the best way to see if youíre living within your means or not. This way, your lender will know your monthly debt payments along with your monthly income.  


If your ratio of debt is high, you may not get a loan or get less desirable interest rates than if you had lower amounts of debt. Even if you have a high credit score, your debt-to-income ratio could affect these things. In reality, a higher debt ratio will make it harder for you to pay back your debt, so itís important to you. 


How Itís Calculated


You can use an online tool to help you calculate your debt-to-income ratio. You can also use a simple formula if youíre up for doing some math yourself:


Divide your monthly debt payments by your monthly gross income then multiply that number by 100. For example:


Student loans: $400

Car loan: $300

Rent: $700

Income: $4,000 


1400/4000= 0.35 x 100= 35%


Household Ratio


You should also be aware of something called your household ratio. The household is the amount of home-related expenses which includes property taxes, prospective mortgage, home insurance, and more. These costs are divided by your monthly income to get this ratio as well. Obviously, your household debt adds to your financial commitments and is also put into consideration by your lender.    



Whatís A Good Debt-To-Income Ratio?


Itís ideal that you keep your ratio less than 36%. Your household ratio should be even lower than this. Itís great to be debt free, but in the real world, thatís not always possible. Your best bet is to be responsible with your finances and work on paying your debt down as much as you can. Then, little by little all of the critical numbers that are required to get a mortgage will fall into place.