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 Friday, November 18, 2011 12:23:00 PMOn Monday night November 14, 2011, the City Council agreed to adopt the New building code know as the "Stretch Code". This code will require all new construction of residential, commercial buildings after July 1, 2012 to be 20% more efficient in conserving energy.
This new building code will effect costs of construction overall. In the article it says the code will add about $3,000 to the cost of construction of a residential home.In Realty, I was told it will be more like 20% of an increase in building costs. Yes this will be more expensive but, as energy costs keep rising we have to look for better ways to save and better alternative ways to create energy in the home.
It wouldn't surprise me to see homes built with these tighter building codes holding a better resale value in the future than older homes. If this becomes true then the initial higher cost of construction is well worth it. Today more and more people are looking to conserve and save and energy and want to embrace being "GREEN". It is the hip new thing and people pay will for it.
This is only the beginning for these sorts of building codes.
Here is the link to the news story reported by Waltham-Patch
Tags:
Waltham , Building codes , City coucil , Moody St , homes , houses Leave a comment
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Friday, October 28, 2011 2:44:00 PM
Why rent when you can own. ! I can tell you first hand, you definably want to own! here are 10 great reasons why!
1. You own it: With no landlord, you make the decisions.
2. You deduct it: Mortgage interest, property taxes and some costs involved
with buying a home can be deducted from federal income taxes.
3. Interest rates: The cost to borrow mortgage money is at an all-time low. If you’re
going to buy, this is the time to jump into the market.
4. You invest in it: Rent money is gone forever. Mortgage payments build home
equity ownership interests.
5. You save for the future: Home equity is a ready-made savings plan. Sell it
and you can make up to $250,000 cash without owing any federal income tax on
the profit.
6. You can predict expenses: Unlike rent, a fixed-mortgage payment
doesn’t get more expensive over time.
7. You pick it: Choose from different neighborhoods, styles and price ranges.
8. You create it: Decorate, renovate, get a pet or paint the walls whatever
color you want – it belongs to you.
9. You live in a neighborhood: You and your neighbors take pride in the local
schools, roads and more – and you work together to build a friendly community.
10. You spend money on yourself: When you buy a chandelier or hardwood floor or
kitchen cabinet, you’re spending hard-earned money on yourself and building
your equity at the same time.
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Tuesday, August 09, 2011 11:08:00 AM
Considering purchasing in a multi-family home? For some
people the multi-family home is a great way to go, with many long term
benefits.
A multi-family home is a home with two or more rental units.
The most popular for the 1st time home buyer home is the two family
home. These homes offer the best square footage and easy landlord management
(you only have one rental unit to take care of).
There are many benefits a multi-family property can offer.
The following are a few example good examples:
1) When a buyer applies for a loan, the income derived from
the rental unit(s) can be incorporated into the loan equation, increasing your
purchasing power and possibly increasing your loan amount.
2) The income earned each month from paying tenant(s) will help
to offset some mortgage payments, property taxes and utility expenses, reducing
out of pocket cost to the property owner. No single family home or condo can do
that.
3) Over time, the rental income will increase because of
market rents. After a few years, the out of pocket expenses reduce and income
increases to the owner. It's not unusual to see a multi-family owner purchase a
single family home, keeping their multi-family home too. At this point the
rental income can support the property itself and allows the owner to purchase
a second home. Now the owner has an income property which is a nice little nest
egg for future use. I've seen, over my years as a REALTOR, home owners
accumulate more than two homes increasing their rental income.
In the past few years, the multi-family market has changed.
In 2007, investors were purchasing these homes and then converting them into
condos, selling each unit off separately. These purchases increased the market
value of the home to where they were un-affordable to the regular owner
occupied buyer. When the market crashed, prices dropped dramatically, but the
damage was done. There are now less conventional multi-family rental homes than
before. The banks are stricter in their lending practices, leaving a struggling
market place for multi-family homes.
Waltham’s
rental market is on the up swing for the moment as I write this. In the past month, rental prices have
increased on an average of 12% and are still rising. 2002 was the last time the
rental market had a boost like this.
For the some people a multi-family purchase is a great
stepping stone and can be a lucrative investment.
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Thursday, June 09, 2011 10:01:00 AM
There has been a lot of discussion up on Capitol Hill
regarding down payments for mortgages. The feds with the support of lenders are
contemplating the idea of regulating the down payment to residential purchase
loans in response to the mortgage crisis. The new regulation would require all
residential buyers to put down a minimum of 20% on all residential purchase
loans.
I don't see this as a good idea for the economy and the real
estate market. In Waltham,
it isn't out of the norm to have a home buyer put down as little as 3% on a
home purchase loan, even in this market. Its how the middle class people are
buying homes. The qualification process is much tighter now, and lenders and
banks are taking great care to make sure today's buyers can actually afford the
home.
Taking away the ability for buyers to put down less than 20%
will only crush this very fragile market. I believe it will destroy home values
and take away jobs. The middle class are the primary borrowers who seek loans
with minimal down payments. Taking away these types of loans will take away the
basic American dream for many people. Buying
a home today is already difficult. For the most part, it requires dual incomes,
good credit and solid employment history. With the cost of living constantly on
the rise, saving money is a challenge.
The math is simple, for a $350,000 purchase, (This is less
than the average sale price in Waltham)
a 20% deposit would be $70,000! I read it would take the average American
family over 15 yeas to save up a 20% down payment to purchase a home.
It's my opinion that there are no winners with this sort of regulation
and I don't think it protects anyone. Home values would plummet, affecting
everything including real estate tax, which are the revenues for local towns and
city's. Home ownership shouldn't be this hard to obtain.
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Monday, May 23, 2011 2:38:00 PM
This past Sunday May 23, 2011 the Boston Globe did their
yearly article on The Top Spots to live…. In reading the article, I found that Waltham was the runner up
in the Top Spot to live for food lovers category.
After reading the article, I started thinking about all of
my favorite places to eat and took a little mental drive around Waltham to review some of
my favorite places to get some good grub.
I first started with the Chateau Restaurant on School St. This
place is a Waltham
institution. For a true red sauce Italian joint you just can’t beat this place.
I grew up eating here and so many of my friend and family have too. Their pizza
is one of the best in the city and who can’t forget the toasted ravioli.
My next mental stop and a Waltham good eats is Sadie’s Saloon on Pine St.
This place cooks up incredible steak tips, with mashed potato (yes, the may be
instant), veggie (usually corn) and gravy. I am almost certain that this place
was the first restaurant in Waltham
to serve wings.
Continuing forward, I stopped at little place called
Taquaria Mexico
on Felton St.
This simple Mexican restaurant offers the best, authentic Mexican cooking in
the area at very affordable prices. Everything on the menu is tasty all served
with home made salsa, both green and red served with hand made nacho chips. It
originally started on Prospect
Street but soon needed a little more space where
they found a nice building on Felton
St.
Moving on, another favorite eatery is Bison County
on Moody St.
They serve a delectable bison burger (buffalo meat). Other menu favorites are
their spicy chicken wings in a Carolina
bbq sauce, hush puppies, and loaded nacho’s. They also have a wide verity of micro-brewed
beers on tap which changes regularly.
Next on my tour of Waltham,
I have to mention a nice little Asian place called, Tom Can Cook on Moody St.
It is one of my favorite Asian eateries. Its claim to fame is Asian fusion, which
is a mix of Chinese, Thai and Japanese. They have rice dishes, noodle dishes
and always offer every menu item as vegetarian dish too. A nice appetizer is
their Tofu tempura. The décor is clean simple and bright with lots of color
making it a fun place to eat.
When I’m in the mood to stuff myself with a big ol’ sub, I
have two favorite shops. One is of course Carl’s on Prospect St. and the other is Lena’s Sub on Main St. Carl’s makes a steak bomb that is
out of control and then there is their legendary burrito’s. I almost think they
weigh in excess of 5lbs of stuffed goodness. Lena’s
specialties are their meatball or tuna fish sub. Even as a kid, when my dad
wanted a sub, it was always Lena’s.
I want to finish with one place in particular which, is in a
class of its own. It’s fine dining Waltham
style. The place is La Campania
on Main St.
This place is amazing. Each plate is cooked to order from a small specialized
menu which changes on a regular basis. The food is exquisite and their wine
list is extensive. The staff is attentive and well versed about the wines. I do
have to say this place is pricey but very worth it and you can easily make a
whole evening out of dining there.
I could be here all day talking about all my favorite eats. I
want to sum it up and just say YUM. Other places I haven’t even mentioned are,
Tempo Bistro on Moody St, Tuscan Grill on Moody St, Skelleg on Moody St, Watch
City Brewery on Moody St, Wilsons Diner on Main St, and the Shoppers Café on
Moody St. with dozens more still on my list.
Waltham
has great food and there is something for everyone. After thinking about all my
favorite places in Waltham to eat, I have to
agree, Waltham
is a lover city. I would actually call it the #1 place to live and not #2. I am
very proud to be part of this wonderful community every day.
To see what the Boston Globe Magazine wrote click here for the link.
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