Dino Rossi
New England Preferred Properties | 617-969-0676 | dino@realestateman.com


Posted by Dino Rossi on 8/20/2017

Believe it or not, the process of buying a home can become long and complicated. And if you're not careful, you may encounter many hurdles that prevent you from acquiring your dream residence.

Lucky for you, we're here to teach you about the ins and outs of buying a house and help you simplify the process of going from homebuyer to homeowner.

Now, let's take a look at three common misconceptions associated with buying a home.

1. You will be able to acquire a house in a matter of days.

The process of locating your dream home is unlikely to happen overnight. Instead, a homebuyer usually will need to perform extensive housing market research to discover a residence that meets or exceeds his or her expectations.

Typically, a homebuyer will look at several houses before he or she can find the right residence. This homebuyer then will need to submit an offer on a house. And if a home seller accepts the homebuyer's proposal, a home inspection will need to be completed before a home purchase is finalized.

It is important to set realistic expectations for your home search. In most instances, it may take a few weeks or months to find your perfect residence. But with a diligent approach to your home search, you'll be able to discover a house that can serve you well for years to come.

2. You will be able to buy a home for less than a property's initial asking price.

Understanding the differences between a buyer's market and a seller's market is essential for a homebuyer.

In a buyer's market, many high-quality residences are available. This market usually favors homebuyers, and in many instances, enables property buyers to secure great houses at budget-friendly prices.

On the other hand, a seller's market features a shortage of first-rate properties. As a result, this market favors home sellers, and many homebuyers may compete with one another to secure the best houses.

Regardless of whether you're operating in a buyer's or seller's market, it is paramount to avoid the temptation to submit a "lowball" offer on a residence. By doing so, a homebuyer can minimize the risk of missing out on an opportunity to acquire his or her perfect residence.

3. You can find your dream home without help from a real estate agent.

When it comes to buying a house, the early bird catches the worm. Therefore, an informed, persistent homebuyer is more likely than others to locate a terrific home at an affordable price.

Ultimately, working with a real estate agent is ideal. With a real estate agent at your side, you can receive expert assistance throughout the homebuying journey.

A real estate agent will set up home showings, keep you up to date about new houses as they become available and much more. He or she also will respond to your homebuying questions and ensure you can acquire a stellar home in no time at all.

Take the guesswork out of buying a house – collaborate with a real estate agent, and you can make your homeownership dreams come true.




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Posted by Dino Rossi on 9/20/2015

There is a saying often used in the real estate industry to refer to buyers, it says buyers are liars. That is in fact not case. The perception comes from the fact that buyers often buy on emotion rather than their needs. Buying on emotions often leaves buyers passing over a potential good deal or fit and instead overpaying for their dream home. Here are some common buyer errors and how to avoid making them. 1: Not using the right agent Choose an agent that works in the local market and never go it alone. An agent has the skills to negotiate the best deal for one of the biggest purchases of your life. A local agent has the lay of land and knows the area well and will be able to find you the right fit. 2: There usually isn’t a better deal When buyers keep waiting for a better deal they often miss out. When you find a house that fits your needs go for it. Don’t wait because there is no guarantee that a better deal will come on the market. 3: Overpaying for cosmetics Look at the structure and the function of the home. Paint colors or décor don’t matter in how much the house is ultimately worth. Often buyers will pay for cosmetics and staging in a home and ignore a better deal that isn’t perfectly decorated or match their taste. 4: Not negotiating realistically Who doesn’t want to get the lowest possible price when buying a home? Buyers need to understand there is a big difference between negotiating and lowballing. If a buyer truly wants a chance at a sale it is best to make a fair offer. Lowball offers often immediately get rejected or cause the seller to become agitated which often ends negotiations. Buyers must understand a lowball offer comes with a risk of losing the property.





Posted by Dino Rossi on 5/17/2015

Buying a home can be an exciting time and there is no better time to buy and take advantage of low mortgage rates and prices. Buyer beware, just because it is a good deal you still need to do your due diligence before signing on the dotted line. Here are some potential purchase pitfalls to look for: Do-it-yourself anything Does the home you are purchasing have a great finished basement, new deck or three season addition? Check with city or town hall to make sure the work was done to code and the proper permits were pulled. Things not done to code can be expensive to fix and can ultimately lower the home's value. Structural problems Structural problems are a big red flag. Have a professional home inspection and if need be have a structural inspection on the home. Things to look for include doors and windows that don’t open and close properly and cracks along the foundation. Some cracks may be harmless and normal settling but typically the bigger the crack, the bigger the problem. Structural problems are usually a deal killer as they can be very costly to fix. Insect damage can be part of a much bigger problem. Signs of excessive termite or pest damage does not tell the whole story and often there is unseen damage inside the walls. This may require a special pest inspection to determine if the home's studs have been compromised thus affecting the home's structure. Water damage Another potential problem is water damage. Water damage can cause the failure of the foundation. Water needs to be always draining away from the house. Look for moisture or water stains in the basement. This may indicate a drainage issue. Also be sure to check if the home is in a flood zone. Water in the home can also cause mold. Mold can lead to many serious health issues and is expensive and time consuming to remove. Mold should always be removed by a professional specializing in mold mitigation. Electrical work Do-it-yourself electrical work or antiquated electrical can be a recipe for disaster. When looking at homes be wary of electrical work that has been added on over the years. If the home has an addition make sure to ask if the current electrical system is enough to handle the additional square footage. Be wary of older knob and tube wiring or aluminum wiring this can be very expensive to replace. A professional home inspector should always be able to help point out potential pitfalls in a home before you purchase it. Never skimp on peace of mind. To find a qualified home inspector you can check with the National Association of Home Inspectors.





Posted by Dino Rossi on 5/10/2015

The news has been bombarded with negative stories about the real estate market over the past few years, but the tides are turning and inventory is now lower than ever. There are still many opportunities for buyers as prices still remain low. For savvy homebuyers looking to buy in the high-end or luxury marketplace there is tremendous opportunity. If you’ve always dreamed about buying a luxury property but considered it just out of reach, today’s market may has put downward pressure on the prices of higher-end homes making them more affordable than ever. To buy your dream home you will want to have a strategy. 1. Choose your agent wisely. Your agent is your advocate. You will need an agent who is experienced and successful in the luxury home market. Agents who deal in luxury property have the right knowledge to help you locate and negotiate an offer on a high-end home. 2. Take the time necessary. The high-end home search may take more time and patience. The supply of luxury homes may be smaller, you may even need to expand your search or rely or your agent to find homes that may not be currently up for sale. The home will be bigger, have more features and thus there will be more to consider in the purchase decision. 3. Prepare the perfect offer. Cash is king in today’s market. According to the May 2011 REALTORS® Confidence Index from the National Association of REALTORS®, 30 percent of all purchases between mid-April and mid-May of last year were financed with cash. The number was even higher for luxury properties. Even though many luxury sellers may also be in a distressed property situation they are typically more particular about who was buying their property as well as the final selling price. Use your agent to carefully craft the perfect offer.





Posted by Dino Rossi on 4/6/2014

Getting a mortgage these days can be tough and it is even tougher for small-business owners. Potential self-employed borrowers usually have variability in their income streams. Today, banks are requiring more financial documentation from all buyers, and self-employed borrowers tend to face more scrutiny. Small-business owners may have a smaller income because they are typically knowledgeable about tax deductions and credits. This often reduces the amount of taxable income they have. Reducing the amount of taxable income on your tax returns means to the lender there is less income to qualify for a loan. There are ways self-employed borrowers can increase their chances of getting a home loan, however. Here are a few tips: What is the lenders history? Find out if the lender has a history of working with self-employed borrowers. Self-employed borrowers should focus more on finding a lender that will understand their situation rather than shop the loan rate. There are individual loan officers who will be able to think out of the box or come up with solutions. The lender you choose is key. Consider portfolio lenders. Portfolio lenders have more flexibility in originating loans because they don't have to sell the loan to Freddie Mac or Fannie Mae. Portfolio lenders hold their own loans. That makes a big difference in their ability to loan. Another option may to consider credit unions. Many credit unions also keep a good portion of loans on their books. Boost your income. Show you make as much money as possible on your tax return. You might need to amend your tax returns. Some lenders will look at a loan application again if they have sent in amended returns to the government. Sometimes by rethinking deductions and credits on income taxes, a borrower can increase his qualifying income. Of course, with this strategy, the borrower would also face a new tax bill.