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In our next topic of conversation with Elizabeth Newcombe, we asked her what the first step in the home buying process is. Liz is involved in this process on a regular basis so getting her perspective on the topic is very beneficial. For anyone looking to purchase a home in the near future, this is a great short video on how to get started with the home buying process and what to expect throughout.

For more information on homes for sale in Attleboro, contact Elizabeth Newcombe at 413-834-8052

 

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Recently we sat down with our very own Elizabeth Newcombe to cover a series of topics. One of these topics was about what is happening currently in her local real estate market, Attleboro. As most of you know, the real estate market for the greater Boston area is very competitive right now and it is even making its way down to Bristol and Norfolk counties. Liz provides a firsthand look into everything you want to know about the market in Attleboro right now.

For more information on homes for sale in Attleboro, contact Elizabeth Newcombe at 413-834-8052

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How Much Equity Will I Have In My Home 10 Years From Now?

Have you ever wished you could take a look into the future and see what things are like? Do you own a home and wish you could estimate the amount of equity you’d have at any given point in the future? If so, we have two videos just for you!

A property’s equity is made of of two simple factors; the value of the home and the amount owed on the mortgage. Simply put, your homes value (the asset) minus the amount of your current mortgage(s) (the liability) = equity. For example, if you own a home worth $500,000 and the current balance of all mortgages is $300,000, you have $200,000 in home equity.

Great! I know both of these numbers today, but how do I determine these two values 10 years from now? Good question! The two short videos below are going to show you just how to do that.

The 1st video takes you through the use of an amortizing mortgage calculator. This calculator will help you determine the principal balance of your mortgage at any point in the future. In addition to the use of this calculator, you should have received a loan amortization schedule with your mortgage documents.

 

The 2nd video is a compounding calculator. A compounding calculator will assist you in estimating the future value of your home. Once you’ve estimated your homes future value, you can simply subtract your future mortgage balance and BAM! There you have it. A quick look into the future!

 

Would you like to view more real estate videos like these? Subscribe to our You tube channel at https://www.youtube.com/user/wmandrell

 

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Boston is Healthiest City of Country’s 25 Big Cities

WalletHub.com recently released a study showing Boston as the country’s healthiest city. “WalletHub compared the real-estate markets in 25 of the largest metropolitan areas across 10 key metrics. Our data set ranges from the interest rate on a first mortgage to the percentage of households that have received state or local assistance on their first housing loan”.

“As of the first quarter of 2015, for instance, about 255,000 consumers had a bankruptcy notation added to their credit reports, the lowest quarterly total since 2006. Foreclosure rates have also dipped to their lowest since that same year. In addition, lower down payments and higher approval rates for people with average credit scores indicate a growing housing market.”

Given such promising evidence of steady economic recovery, and with Boston’s current building boom, is it time to invest more into Boston real estate? Read the report for yourself with the link below. Interested in speaking with a local real estate investment specialist? Give us a call at 617-297-8641 and let talk about Boston’s future.

http://wallethub.com/edu/the-health-of-housing-market-in-25-big-cities/7664/

Source: WalletHub
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If you’ve been thinking about buying your first home or considering an investment in real estate, now may be a good time to purchase a local multi-family home. With depressed real estate prices, historically low mortgage rates, and an increased demand for rental units, the current real estate market has created a perfect storm for new landlord.
 
Over the last year the Boston rental market has experienced a huge jump in demand. Boston landlords are achieving higher rents, while also experiencing less vacancy time. According to MLS Pin, at this time last year the average Boston apartment in was renting for $2,232 vs. a current day asking price of $2,679. That’s a $447 difference and nearly a 20% increase. The number of days apartment rentals are staying vacant has also been cut down significantly. Our current average rental unit DOM (days on market) is approximately 41 days, compared to 58 days this time last year. Not only are Boston rentals bringing in more income, but they are bringing in tenants on an average of 17 days sooner.
 
I regularly speak with many would be buyers that are sitting on the side lines in this great buyers market. These buyers seem to be waiting for national headlines to tell them that it’s ok to buy a home again. Savvy buyers and investors understand that real estate trends, and therefore values, are local in nature and not necessarily affected by what happens on the national stage. Make sure you are one of these buyers and educate yourself on what’s happening locally. For income producing property you also want to look at the cash flow being produced. Stronger rents typically mean stronger cash flow and therefore stronger home values.
 
When you see rents on the rise, DOM slimming down and combine those factors with the fact that Boston has always been a great place to live, it’s hard to produce a good reason why now wouldn’t be a great time to be a local landlord.
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