The Mavroules Team - Atlantic Coast Homes



Posted by The Mavroules Team on 7/19/2019

The biggest area of your life that you need to understand before you buy a house is your own finances. Before you know what kind of house you can buy, you値l need to understand your own buying power. While things like square footage, how many bedrooms you need, and finding the right neighborhood are important, you can稚 go very far without some type of financing. While understanding how much you can spend on a property is one of the more serious parts of buying a home, it痴 something that you値l want to do. Knowing what you can spend on a home is a step to helping you land a home you love. If you understand your own numbers, you値l know the chances that you have of an offer being accepted on a place you love.  


The Elements Of Your Buying Power


Your Credit Score


This little three digit number has a lot of meaning behind it. This is the most basic piece of information that lenders use to determine your loan worthiness. The factors that influence your credit score include:


  • Payment history
  • How much you owe
  • Length of your credit history
  • Mix of credit accounts
  • How much new credit you have opened


A low credit score is somewhere under 620. Having a score this low doesn't necessarily mean that you値l be denied for a loan, but the type and amount of the loan you池e offered can be impacted. You値l also face higher interest rates because of a low credit score. This means your mortgage could be considerably more expensive than if you had a higher credit score. 


Down Payment


The 20 percent down as a rule of thumb actually offers many benefits to your buying power. This means that you値l need 20% down of the purchase price of the home in cash. If you put this amount of money (or even more) down on a home, it eliminates the need for you to have to buy PMI (Private Mortgage Insurance). You値l even be able to negotiate a lower interest rate. A large down payment may be especially helpful in competitive markets where there is a lot of buyer competition.


How Your Financial Picture Appears


Your assets and your debt-to-income ratio are also important factors in your financial picture that you present to the lender. Basically, all of these numbers let both the lender and the seller see how committed you are to buying a home. It is one of the biggest financial undertakings of your entire life. If you can稚 show financial responsibility, then it may be a bit difficult for lenders to see that you値l actually pay your loan back in a timely manner.


The better all of your financial numbers are, the more buying power that you値l have. If your numbers are good, you値l be able to afford more house. While it may not be the most exciting thing to look over all of your financial numbers, it痴 a vital step in the process of your journey to home ownership.




Tags: Buying a home   finances  
Categories: Uncategorized  


Posted by The Mavroules Team on 7/15/2019

This Single-Family in Lynn, MA recently sold for $503,000. This Cape style home was sold by The Mavroules Team - Atlantic Coast Homes.


6 Alison Way, Lynn, MA 01904

Single-Family

$509,900
Price
$503,000
Sale Price

7
Rooms
4
Beds
2/1
Full/Half Baths
Great opportunity for a meticulously maintained Cape in a desirable neighborhood with numerous amenities nearby. This is a gorgeous home that is a must see as you will be pleasantly surprised with its layout. Cape features 4 bedrooms with the potential for a 5th depending on how you want to use the rooms. Kitchen features granite counter tops and stainless steel appliance and wood laminate flooring on the first floor. Lower level bonus area is half finished with a half bathroom which is not included in the square footage. Gorgeous Exterior Patio for your outdoor entertaining. Addition features include, Pantry off kitchen, heated floor in second floor bathroom, motion sensors in closets and central vacuum.

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Tags: Real Estate   Single-Family   Lynn   01904  
Categories: Sold Homes  


Posted by The Mavroules Team on 7/12/2019

Let's face it hosting an open house may seem like a major hassle. Cleaning a home and getting it ready for an open house could prove to be costly and time-consuming. Plus, despite your best efforts to prep for an open house, there are no guarantees that the event ultimately will help you sell your residence.

Although hosting an open house initially may seem difficult, the advantages of holding an open house generally outweigh the disadvantages. In fact, there are many reasons why you should host an open house, and these include:

1. You can gain a competitive edge.

The real estate market is fierce, especially for sellers who are competing against one another for buyers' attention. Fortunately, an open house can help you gain an advantage over the home selling competition, as it enables you to show off your residence to large groups of potential buyers in a short period of time.

When it comes to selling a home, it helps to explore any competitive advantage that you can get. And if you host an open house, you may boost your chances of differentiating your home from the competition and generating lots of interest in your residence.

2. You can make it easy for buyers to picture what life would be like if they purchase your home.

A detailed home listing can make a world of difference for buyers. Yet a home listing alone probably won't drive buyers to instantly submit an offer to purchase your residence. Thankfully, an open house provides buyers with a stress-free opportunity to check out your house and determine whether to proceed with an offer.

Of course, during an open house, buyers can picture what it would be like if they own your residence. And if buyers like what they see, it may be only a matter of time before you finalize a home sale following an open house.

3. You can increase the likelihood of a fast, profitable home sale.

As a seller, you should strive to promote your residence to as many potential buyers as possible. With an open house, you'll be able to do just that.

An open house makes it simple to showcase your residence to dozens of prospective buyers at the same time. Meanwhile, the event empowers buyers to learn about your residence and gain deep insights into the condition of your house. And if a buyer is impressed with your residence after an open house, the likelihood increases that an offer could come your way soon that leads to a fast, profitable home sale.

As you try to sell your house, you may want to hire a real estate agent too. A real estate agent knows the ins and outs of selling homes and can teach you everything you need to know about how to host a successful open house. Perhaps best of all, a real estate agent can help you achieve the optimal results at each stage of the home selling journey.




Categories: Uncategorized  


Posted by The Mavroules Team on 7/10/2019

Looking for the best of both worlds? This captivating condo blends a wonderful combination of old world charm and modern amenities and is anything but cookie cutter. This spacious and bright home boasts a wonderful floor plan and offers 2 generous sized bedrooms, an eat-in-kitchen, dining room with built-ins, plus a large living room, perfect for entertaining. This PET FRIENDLY home has it all including: GARAGE PARKING, separate laundry, plenty of storage, GLEAMING HARDWOOD FLOORS, private outdoor space, newer heating system and very low condo fees ($171). CERTIFIED DE-LEADED! Located only a stone's throw from the ocean, this home is ideally situated just mins from the highly desirable Lynn Shore Drive coastal walking trails, beaches, shopping, dining and the COMMUTER RAIL. Nothing to do, but unpack and enjoy.

More Info on this Property | New Listing Alerts





Posted by The Mavroules Team on 7/10/2019


679-681 Humphrey St, Swampscott, MA 01907

Condo

$349,900
Price

5
Rooms
2
Beds
1
Baths
Looking for the best of both worlds? This captivating condo blends a wonderful combination of old world charm and modern amenities and is anything but cookie cutter. This spacious and bright home boasts a wonderful floor plan and offers 2 generous sized bedrooms, an eat-in-kitchen, dining room with built-ins, plus a large living room, perfect for entertaining. This PET FRIENDLY home has it all including: GARAGE PARKING, separate laundry, plenty of storage, GLEAMING HARDWOOD FLOORS, private outdoor space, newer heating system and very low condo fees ($171). CERTIFIED DE-LEADED! Located only a stone's throw from the ocean, this home is ideally situated just mins from the highly desirable Lynn Shore Drive coastal walking trails, beaches, shopping, dining and the COMMUTER RAIL. Nothing to do, but unpack and enjoy.
Open House
Saturday
July 13 at 11:30 AM to 1:00 PM
More Open Houses
Cannot make the Open Houses?
Location: 679-681 Humphrey St, Swampscott, MA 01907    Get Directions

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Categories: Open House  




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