December 2009

There are 2 blog entries for December 2009.

mortgage interest rates rise to 6%With 30 year fixed rate mortgages hovering around 4.8% near historical lows, it got me thinking this weekend. More than likely, a year from now, mortgage interest rates will be higher than they are today. Many buyers are waiting to see if real estate prices have further to fall. In my comparison, I'll show you why I think the next several months are the best time to buy. For an easier comparison, let's say the current 30 year fixed mortgage is 5%. Let's say you purchase an average home for $400,000 with 20% down. Your loan amount would be $320,000, and your monthly principal & interest payment would be $1,717.83. If you decide to wait a year to purchase and rates were to rise to 6%, that same $320,000 loan would cost you $1,918.56. That's a $200.73

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Terrier Residential is moving and expanding!I am proud to announce that Terrier Real Estate has bought a new office at 366 West Broadway in South Boston and will be relocating January, 1 2010. The new office is located at the corner of West Broadway and E Street. It's a great corner retail space that I actually blogged about last year when it came available for sale or lease.

Here's an excerpt from the story in yesterdays Banker & Tradesman:

Terrier Residential, a Boston residential real estate company, has relocated to 366 West Broadway, Unit C-2, in South Boston. Owner Michael Sylvia purchased the 1,024-square-foot commercial condo for an undisclosed price.

If you are a new or experienced agent, we are hiring, so feel free to contact me. Stay tuned for details on our grand opening party

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