(MA) 617-297-8641 (RI) 401-641-5774

Contact@MandrellCo.com

All posts tagged Mass

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
Read more

Pending home sales in Massachusetts climbed 36 percent in June, compared with the same month last year, according to a new report from the Massachusetts Association of Realtors (MAR).

There were 7,316 homes put under agreement in June of this year, compared with 5,349 in June 2014, with median prices of $375,000 and $364,900, respectively. Condominium sales increased to 2,777 in June 2015 from 2,082 in June 2014 – an increase of 33 percent – with the median price dropping to $330,000 from $332,000.

“The summer market is heating up. June was a very active month even with the usual end-of-school activities and graduation celebrations,” MAR President Corinne Fitzgerald, broker/owner of FITZGERALD Real Estate in Greenfield, said in a statement. “Buyers are out there, and they are making offers. Sellers who price their house correctly are benefiting from all this activity and entering into agreements shortly after they are listed.”

Want to find out how your neighborhood is doing and what homes are selling? Send us an email at Contact@MandrellCo.com and request a FREE market report. We can help you gain complete insight into your real estate market by showing you exactly what homes are selling and what buyers are paying for them. Give us a shout today!
Read more

 Freddie Mac (OTCQB: FMCC) last week released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates reaching new 2015 highs heading into the holiday weekend and ahead of the June jobs report.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.08 percent with an average 0.6 point for the week ending July 2, 2015, up from last week when it averaged 4.02 percent. A year ago at this time, the 30-year FRM averaged 4.12 percent.
     
  • 15-year FRM this week averaged 3.24 percent with an average 0.6 point, up from last week when it averaged 3.21 percent. A year ago at this time, the 15-year FRM averaged 3.22 percent. 
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.99 percent this week with an average 0.4 point, up from last week when it averaged 2.98 percent. A year ago, the 5-year ARM averaged 2.98 percent.
     
  • 1-year Treasury-indexed ARM averaged 2.52 percent this week with an average 0.3 point, up from last week when it averaged 2.50 percent. At this time last year, the 1-year ARM averaged 2.38 percent. 

 

Would you like to receive regular market updates on Boston mortgage rates? Sign up for our blog post in the top right hand corner. All the information posted here will be sent directly yo your email inbox!

Read more

The Mandrell Company is pleased to announce that we’ve just expanded our real estate sales and rental business into the state of Rhode Island!  We have two designated agents for the state and they are ready to serve your real estate needs. If you, or anyone you know is looking to buy, sell or rent in Rhode Island, we’d certainly appreciate the connection.

You can continue to reach us by email at Contact@MandrellCo.com or call our local RI office at 401-641-5774.

Read more

You hear people talk about flipping homes with no money out of pocket, but how exactly are they doing it? This FREE seminar is going to show you how to use private funds to buy, fix and sell property for a profit! The event topics will include:

· Private money – What it is, and why you need it to fund your deals

· How to find and sell yourself to private money lenders

· How to structure deals and make your private lenders feel comfortable

· Evaluating potential rehabs and crunching the numbers

· What to watch out for and trouble areas to avoid

This 1.5 hour seminar will be presented by Andrew Schena of Capital Equity Partners. Capital Equity has purchased and sold 10 of millions in Boston real estate since 2009 when established. https://www.facebook.com/CapitalEquityPartners

Saturday, September 19, 2015 – to Boston Marriott Quincy – 1000 Marriot Dr, Quincy, MA

Join Boston Wealth Builders and RSVP to the event! Membership is FREE  – www.BostonWealthBuilders.com

This educational seminar will take place on the same day and in the same location as the MA RE Investor Trade Show. Seating is limited, so please RSVP to save your spot. Only members of the group will be allowed to RSVP.    www.BostonWealthBuilders.com

Read more

Boston Land Transactions – Take A Look At What Sold

Here are the most recent 25 land sales from Boston and the rest of Suffolk County. Sales range from $20,000 in Chelsea to $4,000,000 in South Boston.

 

SLD 63 Highland St Chelsea, MA 0.03 Residential acres (1425 sq.ft.)  $20,000
SLD 170 Tremont St Boston, MA 0 Parking acres (0 sq.ft.) $34,900
SLD 10 Everton St Boston, MA : Dorchester 0.08 Residential acres (3301 sq.ft.)  $25,000
SLD 11 havelock st Boston, MA : Dorchester 0.09 Residential acres (4000 sq.ft.)  $45,000
SLD 21 Father Francis Gilday Boston, MA : South End 0.02 Parking acres (999 sq.ft.)  $59,000
SLD 151 Tremont UL308 Boston, MA : Midtown 0 Parking acres (0 sq.ft.)  $64,000
SLD 2 Rollins St. L2- 179/180 Boston, MA : South End 0 Parking acres (0 sq.ft.)  $66,000
SLD 2 Rollins St. L2- 246/247 Boston, MA : South End 0 Parking acres (0 sq.ft.) $66,500
SLD 15 Balina Pl Boston, MA : Dorchester 0.11 Residential acres (4907 sq.ft.)  $90,000
SLD 1313 Washington Street U:L115 Boston, MA : South End 0.01 Parking acres (500 sq.ft.)  $120,000
SLD 29 Lawrence Ave Boston, MA : Dorchester 0.15 Residential acres (6431 sq.ft.)  $115,000
SLD 18 Albion St Boston, MA : Roxbury 0.11 Residential acres (5000 sq.ft.)  $83,000
SLD 42 Olney St Boston, MA : Dorchester 0.27 Residential acres (11756 sq.ft.)  $135,000
SLD 336 Beacon Boston, MA : Back Bay 0 Parking acres (0 sq.ft.) [ $170,000
SLD 0 Geneva St Boston, MA : East Boston 0.06 Residential acres (2800 sq.ft.)  $170,000
SLD 312 Sumner St Boston, MA : East Boston 0.05 Residential acres (2250 sq.ft.)  $291,000
SLD 148 Warren Avenue U:PKG Boston, MA : South End 229.57 Parking acres (9999999 sq.ft.)  $225,000
SLD 120 Bolton Street Boston, MA : South Boston 0.02 Residential acres (892 sq.ft.)  $249,000
SLD 0 Goldie Lot 4 Revere, MA 0.22 Residential acres (9554 sq.ft.)  $245,000
SLD 19-25 Ufford Street Boston, MA : Dorchester 0.3 Residential acres (13227 sq.ft.)  $220,000
SLD 21 Custer St. Boston, MA : Jamaica Plain 0.16 Residential acres (6935 sq.ft.)  $585,000
SLD 101 Summer Street Boston, MA 2.14 Residential acres (93218 sq.ft.)  $585,000
SLD 165-167 Bowen + 217 D + 80,84 Baxter Boston, MA : South Boston 0.13 Residential acres (5869 sq.ft.)  $1,631,500
SLD 1266 Soldiers Field Rd Boston, MA : Brighton 0.72 Residential acres (31363 sq.ft.)  $4,450,000
SLD 170 W.Broadway Boston, MA : South Boston 0.4 Commercial acres (17399 sq.ft.)  $4,000,000

Are you interested in land opportunities in Suffolk County or other areas in Massachusetts? Would you like to receive available listings? Send us a quick message with your name, email and the neighborhoods where you have interest. We can email you a list within 24 hours or your request.

Read more

Installing hardwired smoke detectors are as easy as twisting a wire. Follow these step by step instructions on how to do it yourself.

Step 1:

Purchase compatible smoke detectors.  It’s best to stick with the same brand.  It’s imperative that they use the same wiring.  Incompatible smoke detectors will not work with each other.  If there is a fire, one smoke alarm will go off  but will not trigger the other detectors, leaving some tenants unaware of the potential danger.  Incompatible smoke detectors will show a red glowing light.  They may also sound randomly and trigger the other alarms to do the same.  You may be able to silence it temporarily but they will continue like this until the incompatible detector is removed or replaced with one that’s compatible.

Step 2:

Pick a time of day to work when you know you get great light in the stairwell windows if there are any.  Bring a flash light if you need it.

Step 3:

Make sure your tenants are aware of the work being done.  Let them know they don’t need to be alarmed if detectors start going off during a certain period of the day.  You’ll need to test the alarms to make sure they’re working.  Since this is your first time you might want to do so more than once as you go.

Step 4:

Turn off the power to smoke detectors.  This will likely turn off the power in the stairwell as well.  The stairwell window light or flashlight will come in handy.

Step 5:

Remove smoke detectors and smoke detector mount from stairwell wall.  You may want to dispose of the old smoke detector, but if you should consider saving the newer ones that simple aren’t compatible with the detectors you are installing.  If you manage more than one property, you might be able to use them elsewhere. Hold on to all screws use to mount the detector.

Step 6:

Remove old smoke detector wiring. There will be 3 wires red, yellow and white connected to the other wires in the wall with caps on them not always indicating the color of the connecting wires.  Remove the caps and then unwind the wires until all 3 smoke detector wires are free. Replace this wire with the new smoke detector wires.  The white and black wire power the detector.  The red wire connects that smoke detector to others on the property.  If there are no other hardwired smoke detectors present connecting it may not be necessary. The red wire often comes with a covering for this reason.  Be sure to put caps back onto all the wiring.

Step 7:

Add new detector mount to the wall.  You should able to use the same screws from the older detector.  Mount the smoke detector, turn the power back on and your mission is complete. Well, depending on how many you have to install.

Step 8:

Take a look at the detectors and make sure they’re all glowing green after you’ve completed your work. If you want to check your work before installing all the new smokes, try detaching the older smokes and then turning back on the power.  If the newer smokes are glowing green and not sounding you know you did the job right. If they are glowing green, but still sounds there may be an older detector you’ve have not removed, possible in the basement or somewhere else you forgot to look.

This is easy work that just takes a little time and patience. Feel free to call me anytime with questions.  617-818-0408. I’m always happy to help where I can.  I’m your Boston Rental Property Specialist!

Read more