Open Houses in Dorchester Massachusetts September 14-15 2013

Cassandra Cumberlander, Remax Boston, 781-269-9836

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Looking to buy a home in Dorchester, Massachusetts? As of today, there are 171 homes on the market. 34 of them are having open houses this weekend-7 single family homes, 6 multifamily homes, and 21 condos. With prices ranging from $139,850 to $875,000, there’s something for just about every budget.  Read on, or watch the video below.

One single family new to market today is 26 Barrington Road in Dorchester(MLS#: 71582763), an 8 room, 4 bed, 1 bath colonial with a 2 car garage near Ashmont station listed at $489,900. This home rests on an 8544sq ft corner lot, boasts professional landscaping and an open layout. Updated kitchen features granite counters and large picture window offering abundant natural light. Sliders off dining room lead to large deck perfect for entertaining or relaxing. Top-level bedroom features two oversized skylights. Modern tiled bathroom with laundry. Gleaming hardwood floors. Newer heating system. Fully fenced back yard. Open House Sunday, September 15 from 2:30 to 4:00 PM.  Listing information provided courtesy of RE/MAX Leading Edge via MLSPIN.

In the market for a large multifamily near Upham’s Corner? Go see 29 Virginia St in Dorchester (MLS # 71581710), listed for $410,000. This property has been on the market for just 2 days, and has had the same owner for over 30 years. Some of the features include original period detail, high ceilings, beautiful woodwork. Main house first flr features 2 fireplaces, formal dining room and living room, butler’s kitchen, and adjacent private terrace, plus a fully renovated full bath. Second floor has 4 large bedrooms, each w/ massive closets, 1.5 bathrooms, front and rear decks. Top floor features huge game room, another full bath and gorgeous sunlit space perfect for an art/yoga studio. Private entrance attached apartment features french doors, 1 bedroom/1 bath, galley kitchen with separate dining area. Open house Sunday, September 15, 2013 from 1:30 to 3:00 PM. Listing information provided courtesy of Gibson Sotheby’s International Realty via MLSPIN.

With many great condos on the market, it’s tough to select just one. Take a look at 4 Nonquit St Unit 4 in Dorchester (MLS # 71572522). This new construction townhome is on a dead end street and listed for $359,900. 3 levels, 3-4 bedrooms, 2.5 baths, gourmet kitchen, master bedroom with en suite bath, home office or 4th bedroom, loads of closet space, deck, hardwood floors on 2 levels, central air, huge walk out basement that has great expansion possibilities, parking & so much more. Open House Sunday, September 15, 1:00 to 3:00 PM.  Listing information provided courtesy of Discover Properties via MLSPIN.

All in all, a great weekend to buy a home.  Enjoy!

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Should I wait to buy a house in Boston?

by Cassandra Cumberlander

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One of the things that has remained pretty constant in this market is the confusion buyers feel about whether they should by a house in Boston now or whether they should wait. With rising interest rates, many people think that they should wait because the market is still too uncertain, and prices will have to drop to prevent another housing bubble. Hate to break the news, but this may not be true.

Let’s take a look at 4 times in recent memory: 1983, 1987, 1993, and 1999. If you just look at these years, you’ll see that every time there has been a spike in mortgage interest rates, home prices have INCREASED, not decreased, as this graphic shows.

Leading industry experts now project that, by this time next year, interest rates will be between 4.75 and 5.25%.  How will those rates impact the amount of house you can afford? Take a look at this:

So, take that single family home you’ve been eyeing in the Neponset area of Dorchester that’s listed for $400,000. At a 4.5% interest rate today, you’re looking at a payment of around $2,027 monthly. If the interest rate projections hold true, that same home could cost you $182 more at a 5.25% rate. That’s $2184 more each year that you won’t have in your savings or investment account.

Delaying your home purchase can have a real financial cost associated with it; we all know that the best predictor of what will occur in the future is what happened in the past.  Be sure to consult with knowledgeable real estate professionals and lenders to help you make the best decision possible in your situation.