MassHousing's “Get The Lead Out” Loan Program Expanded I just got this on the expanded program. Evereryone that has units with children under 6 in them without a certificate needs to take advantage of this. MassHousing announced a major change in the “Get the Lead Out” lead paint removal loan program that will now allow all qualified households with children under age six to obtain zero-percent financing to remove lead paint regardless of whether the child is lead poisoned or in case management. Before the program change, zero-percent, deferred financing was only available to households where a child was lead poisoned or in case management the Childhood Lead Poisoning Prevention Program (CLPPP). For more information about the Get the Lead Out program, including income limits, loan limits and how to apply, clidk the words to the right for details: https://www.masshousing.com/portal/server.pt?open=512&objID=228&&PageID=305&mode=2

Fair Market Rents 2013 per HUD proposed rental guide

Remember rents may need to be adjusted up or down based on neighborhood area, condition of property, upgrades, etc. Rents will also need to be adjusted based on if utilites are included or exclude, appliances, bathrooms, parking It's also a good guide for a quick check to see if you rents are in line with your competition. The latest table by county are area is located at: http://www.huduser.org/portal/datasets/fmr/fmr2013p/FY2013B_SCHEDULE_B.pdf Remember this is a large area that is covered by each estimated rent so this should be assumed as the average rental for the entire area for a property in good condition. Some areas rents will not be as high. Others will be higher.

Which house is easy to sell: the one with the ugly outside or inside?

This is really easy if you thing about it. Yes your first impression is important but you can change that first impression by wanted a buyer to see more with a sign that says I'm Gorgeous inside, don't judge a book by its cover, or inside photos on information in a listing or flyers. On the other hand, a house with a beautiful exterior that is ugly on the inside and gorgeous on the outside gives you a felling like a ballon quickly deflating. As long as the shell of the home doesn't have structural defects the last impression maybe more important than the first as long as you make the buyer want to get past the front door. An added bonus maybe that an ugly exterior may give you a lower assessment, plus the exterior can almost always be repaired while you still occupy the property.

How do recent sales effect your property value.

Property values are set by what a ready, willing, and able buyer is able to purchase your property or simial properties for based on either cash or financed /lender approved sales prices. While cash buyers sales only require documentation of avaialalbe funds at the time of offer, Purchase & Sale Agreement (P&S) and closing financed sales require comparable sale. These comps are usually with in the immediate area or a five mile radius with in a 3 month period. However, the area or time frame maybe extended to a larger area or time frame for unique or specifi property classes for uncommon sales of real estate. If sales prices go up your values go up; If sales values go down then your base value goes down. In all cases some adjustments should be made for location, property condition, area amenities, upgrades, feature missing/improvements.

What is "fair market " value for rent or sales value.

A common question we get as Realtors is what is a fair market value of a property or to charge for rent. The definaion of fair market value is the price a ready, willing, and able consumer is willing to pay for a product. The value can be impacted by location, property condition, added features such as upgrades, the type of heating and or cooling system, parking, storage, the type of flooring, cabinets, room size, closet space, laudry or appliance &/or hookups. Comparable unit values with simialar feautes are used as a basis for pricing units to rent or for sale. If your thing about selling in the Worcester or Central MA area. Contact me for a market analysis or to list your property.

Landlord/investors need to have all paperwork in order

Owners of investment property need to have wriiten lease or tenant at will agreements clearly stating the terms of the rental. This will list all owners all occupanys & all tenants over 18 uses, other occupants, uses, who pays what utilies, restrictions, rent rate, security or last month rent( if either collected), storage, parking and more. At the time of purchase the new landlord will replace the old landlords for obligations under any rental agreements in place.