May 2009

There are 4 blog entries for May 2009.

New Terrier Residential WebsiteFinally! After a 2-3 month design, the new Terrier Residential website has been launched! The site has many new tools for buyers and renters. Those features include a Map Search, Market Update, What's Your Home Worth, and My Home Hunter which allows you to set up a custom account, search current inventory in real time, and receive emails with property updates.

The neighborhood pages are very useful for people relocating to Boston or those of you unfamiliar with some areas in Boston. Of course, there are links to this blog, so if the weekly emails aren't satisfying your craving for Boston real estate info, view the blog archive.

Please check it out and give me some feedback. The website is located at www.terrierre.com or www.terrierresidential.com.

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Price of Stamp IncreasesFor those of you who were unaware, including me, the price of a first-class stamp increased on May 11th, 2009 to 44 cents from 42 cents. I don't know about you, but it seems like they increase the price every 3-6 months! It's pretty frustrating when I pull out my book of 42 cent stamps and realize I now have to go purchase a book of 1 cent stamps. Does anyone else find this annoying?

I would rather them increase the price 5 cents every couple years. Even 50 cents seems inexpensive to me for the convenience the Postal Service offers. One fact that supports my point above.....the US Postal Service lost $2.8 Billion last year!

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Is it time to refinance?With rates near historic lows at or below 5%, many of you may be wondering if now is the time to refi your mortgage. My opinion is yes, if your mortgage is less than or equal to 80% of the value of your home and your current rate is above 6%. Simply put, if your house is worth $500,000 and you owe $400,000, you are a good candidate. Don't know what your home is currently worth? Call or email me for a free analysis of your property.

Below are some extremely helpful questions and answers from James Linnane, a senior VP at Wells Fargo Mortgage in Chicago.

How should you approach refinancing?
Number one, make sure you're dealing with a reputable lender. Number two, don't just ask what the rate is; ask what are the rate options and what total closing

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Heading into our busy rental season, I figured it was a good opportunity to post something about the rental market. Typically you see articles or postings on what you can buy for a certain amount. Here I am going show you examples of what you can rent for $2500 in and around Boston. It's interesting to see how in different neighborhoods you may get a 1 bed for $2500, and in others that same $2500 with get you a gorgeous 3 bedroom. All photos and descriptions provided via MLS. The Italic gray font is text that is cut and pasted from the listing. My comments are in normal black font.

Back Bay - 255 Beacon Street, #42: 1 bedroom

255 Beacon Street, #42Fantastic over sized 4th flr corner 1 bedroom in the heart of the Back Bay @ Dartmouth St, steps to the Charles River

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