Joe Wolvek

Boston Open Houses October 15 & 16

Boston open houses#BostonOpenHouses#BostonRealEstateAre you searchingfora Boston condo or single family home?Here are the Boston open houses scheduled forSaturday & Sunday, October 15& 16,in the downtown Boston neighborhoodsand beyond.To see the locations and times, click the neighborhood links ofinterest to you. If youd like tolook beyond Boston, click the Search for other neighborhoods and towns link.Inventory of Boston condos and homes for sale is still historically low, and that can often causenew listings to gounderagreement quickly. If youreserious about buying, get toopenhouses as soon as those properties come on the market.If you can,go withanexperienced broker (that would be me24 years and counting). That is,someone who canexpertly advise you, prepare and present anoffer for you, negotiate in your interests, and guideyour transaction throughthe various potential pitfallsthat can derail a Boston real estate deal. If you cant have me attend with you, please write my name in with yours on the sign-in sheet.In my 24 years in the Boston real estate market, I havehelpedhundreds of people buy and sell Boston condos and homes. If you need assistance, call me.

Back Bay South End
Beacon Hill Midtown
Waterfront Seaport
North End South Boston
Leather District Fenway
Cambridge Somerville
Brookline Newton
Charlestown
Search for other nhoods and towns

If youhavequestions about buying or selling Boston real estate, please call me at617-584-9790, orsend me an email via the linkbelow. Boston real estate 

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South Boston 1 Bed Condo with Southwest Light $879,000

South Boston 1 bed condo#BostonCondos #BostonRealEstateThis South Boston 1 bed condo is located in the Allele, across from the Broadway T stop and just minutes to the South End, Back Bay and Financial District. This dramatic 1,116 square footpenthouse loft hasan open concept floor plan.The gourmet stainless steel kitchen features abundant cabinetry and a breakfast bar for entertaining guests. Floor-to-ceiling windows flood the entire homewith Southwest light, including the master bedroom. This unit hasa lavish spa bath with dual rain showers, as well as a private balcony.An enormous storage roomiscurrently being used as an office.Garage parking, in-unit laundry, and bike storage round out the amenities at this professionally managed building. Restaurants, Starbucks, public transportation, and nightlife are just steps away.See more photos and details for 150 Dorchester Avenue, #606.See other South Boston condos for sale.Ifyou have questions about this home or would like to seeit,please call meat617-584-9790, or email me via the linkbelow. Boston real estate 

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Sotheby's Institute of Art Gives Art World Book Recommendations

Sotheby's institute of art  #SothebysArt #GibsonSothebysFor myart loving and art collectingreaders, here's alist of book recommendations from Sotheby's Institute of Art.The books noted herecome from the personal collections of the institute's staff, directors, and faculty.The reading recommendations book list covers topics from photographic theory, to perspectives on curating, to privacy in artistic expression, to the 21st century art market and more.Sotheby's Institute of Art developed out ofa small connoisseurship program started by Sothebys Auction House in 1969.The institute hascampuses inLondon, New York and Los Angeles, and offers graduate level programs as well as online learning and executive education.Read Sotheby's Institute of Art's Art World Book Recommendations.Happy reading!  

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Boston Real Estate: The Mortgage Commitment Process

Boston real estate#BostonRealEstate #BostonCondosAs an experienced broker, I am always there to give my clients sound guidance through their entire real estate transaction. Helping my clients be well-informed throughout the process of buying or selling a property is a top priority.One of the most important things forhomebuyers to understand, if theyare having theirpurchase financed, is the mortgage commitment process. Financing is one thing you really don't want to go wrong.An understanding of what is required of the buyer, and when, goes a long way toward making yourhomebuying experience go smoothly.Canner Law, a Massachusetts real estate law firm, has a well written, informative blog with a postthat explains how the process will unfold.Heres their post, called Mortgage Commitment FAQs:

Understanding a Mortgage Commitment: FAQ's

When financing a purchase transaction, the mortgage financing date is the single most important pre-closing event after the Purchase and Sale Agreement is signed.
How Long is the Mortgage Financing Timeline?
The mortgage financing date typically occurs three to four weeks after the P&S is signed. For a condominium purchase, four weeks is recommended.
What is the Purpose of a Mortgage Commitment?
When financing a loan, a lender undertakes a lengthy review of the borrower prior to approving financing. The borrower and the property must meet detailed Fannie Mae guidelines. Thus, a mortgage financing date allows a Purchase and Sale Agreement to be signed before a borrower is approved.
What if a Borrower is Not Approved?
Occasionally, a borrower's financing is not approved. If this occurs, the lender issues a "denial" letter, and provided the request is timely, the borrower is refunded the full P&S deposit (typically 5% of the purchase price in Massachusetts). A skilled loan officer should be able to make an early determination that a borrower is qualified for a loan. Moreover, the process creates an implied incentive to ensure that a borrower is an ideal candidate to receive a loan: the lender, other real estate professionals and seller certainly want to avoid a scenario where a borrower is denied a loan and the transaction is terminated 4-6 weeks into the pendency of a deal.
What Does a Lender's Underwriter Review?
A lender's underwriter engages in a thorough review of the borrower's ability to repay a loan, including reviewing credit, employment, and assets. (Note, if a borrower has commission or bonus based income, it may take longer to analyze).
The lender also reviews the appraisal to ensure the property appraises at or above the purchase price. Finally, if the borrower is purchasing a condominium unit, the lender conducts a detailed condominium project review. The review including ensuring the condominium questionnaire, the condominium documents and financials meet Fannie Mae guidelines.
What if the Lender Does Not Have A Commitment Ready on the Mortgage Financing Date?
On occasion, a commitment can be delayed due to issues beyond a lender's control such as problems with the appraisal process or obtaining and reviewing financials (e.g., bank statements and brokerage accounts). In this scenario, the buyer's attorney will request an extension. A seller is incentivized to grant an extension, because if the seller refuses to extend, they must refund the buyer's full deposit and then put the property back on the market. Thus, the buyer typically can obtain one to two extension(s). However, many deals are on tight timelines, and if a seller is purchasing, they need the certainty of the commitment in a timely manner.
How Should A Borrower Read a Mortgage Commitment?
Once the lender issues the mortgage commitment, it is important for the borrower to thoroughly review the commitment with their loan officer and/or attorney. The commitment will contain a few outstanding conditions. Most are boilerplate that apply to all loans and are easily satisfied in the days prior to closing. They include verification of employment, a final credit check, a final inspection (if new construction), or final review of bank statements.
Conditions that should be "red-flagged" as requiring an additional extension of the mortgage financing date in order to satisfy underwriting guidelines include when a loan is "subject to" an outstanding appraisal condition, a loss of employment, or condominium project approval.
Should A Borrower Show the Commitment to the Listing Agent?
The lender sends the mortgage commitment directly to the borrower. A borrower is not required to disclose their mortgage commitment to any party in the transaction. Often, the commitment contains personal and private information, such as bank accounts, financials and employment. A borrower simply can let the mortgage commitment date pass when proceeding forward. Often, a buyer's agent will verbally notify a listing agent that the borrower has a mortgage commitment.
You can see the article at the Canner Law blog.

Doyou have questions about buying or selling Boston condos or homes? In my 24+ years in the Boston real estate market, I havehelpedhundreds of people buy and sell Boston condos and homes. If you need assistance, pleasecall meat617-584-9790, or email me via the linkbelow. Boston real estate 

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South End 2 Bed Condo on Historic Union Park $2,150,000

South End 2 bed condo#BostonCondos #BostonHomesExquisitely crafted and truly in a class of its own, this South End 2 bed condo is two side by side, grand scale brownstones combined to create a single level, double bow front home, all centered on prestigious and historic Union Park.A completely private, parlor level entrance and marble foyer are unique to this home and offer unparalleled privacy typically reserved for the single family homeowner.The open concept living/dining/kitchen with floor to ceiling windows hasviews of the fountains in the park.There is a gas fireplace, soaring ceilings, and gorgeous hardwood floors throughout. The chef's kitchen features Statuario white marble counters, breakfast bar, professional grade appliances, and ample storage.A private rear deck is adjacent to dining/kitchen, perfect for entertaining. Double coat closets and a half bath complete the living space.The master suite haswalk-in closet, bonus closet, custom built-ins, gas fireplace, and a stunning master bath. The guest room has en-suite bath. This pet friendly building is 100% owner occupied.See more photos and details for 28 Union Park, #2.See other South End condos for sale.Ifyou have questions about this home, orare interested in seeing it,please call meat617-584-9790, or email me via the linkbelow. Boston real estate 

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Boston Open Houses October 8 & 9

Boston open houses#BostonOpenHouses#BostonRealEstateAre you searchingfora Boston condo or single family home?Here are the Boston open houses scheduled forSaturday & Sunday, October 8 & 9,in the downtown Boston neighborhoodsand beyond.To see the locations and times, click the neighborhood links ofinterest to you. If youd like tolook beyond Boston, click the Search for other neighborhoods and towns link.There are many more homes on the Boston market than there were a month ago. Inventory of Boston condos and homes for sale is still historically low, however, and that can often causenew listings to gounderagreement quickly. If youreserious about buying, get toopenhouses as soon as those properties come on the market.If you can,go withanexperienced broker (that would be me24 years and counting). That is,someone who canexpertly advise you, prepare and present anoffer for you, negotiate in your interests, and guideyour transaction throughthe various potential pitfallsthat can derail a Boston real estate deal. If you cant have me attend with you, please write my name in with yours on the sign-in sheet.In my 24 years in the Boston real estate market, I havehelpedhundreds of people buy and sell Boston condos and homes. If you need assistance, call me.

Back Bay South End
Beacon Hill Midtown
Waterfront Seaport
North End South Boston
Leather District Fenway
Cambridge Somerville
Brookline Newton
Charlestown
Search for other nhoods and towns

If youhavequestions about buying or selling Boston real estate, please call me at617-584-9790, orsend me an email via the linkbelow. Boston real estate 

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Boston Real Estate: Modern Cambridge 4 Bed Condo $1,175,000

Cambridge 4 bed condo#BostonCondos #CambridgeCondosThis recently renovated Cambridge 4 bed condo is anairy and modern space with an open floor plan, a sleek and spacious kitchen, 3 full baths, and a lovely patio for outdoor dining.Special features of this 2,161 square foot home include a private entry with an areaforshoes and coats; an eat-in kitchen with custom cabinets and high-end appliances; a master bedroom with walk-in closet and en suite bath; a separate office or guest room; and a generously sized lower level with family room, two additional bedrooms, a full bathroom and laundry.There is ample storage throughout, and lots of space to relax outside. Located on a tree-lined street, thisconvenient to both Harvard and Porter Squares,as well as to the shops and gourmet groceries along Huron Avenue, and nearby parks and playgrounds.See more photos and details for 159 Fayerweather Street, #1.Cambridge is home to Harvard University and MIT, but it is far more diversethan that. A quick driveacross the Charles River from Boston, itis connected to the Beacon Hill neighborhood by the Emerson and Longfellow Bridges,to Back Bay right near MIT by the Massachusetts Avenue Bridge, to Allston by the BU bridge and various bridges near Harvard.See other Cambridge condos for sale.Ifyou have questions about this home, orare interested in seeing it,please call meat617-584-9790, or email me via the linkbelow. Boston real estate 

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Boston Real Estate: What You Should Know About Closing on Your New Home

Closing on your new home#BostonRealEstate #BostonCondosIf yourebuying your firstBoston condo orhome, or even if you're not a first time buyer but don't have a clear recollection of the process, you probablyhave questions about the closing.Canner Law, a Massachusetts real estate law firm, has a well-written andinformative blogwith a post that spells out the closing steps in detail.Heres an excerpt from their post, called "The Closing":

You are finally at the finish line and about to close on your new home or condominium unit. Naturally, you wonder "What are the final amount of funds to bring to closing and is there anything else I need to close?"If you are financing the transaction, the lender is required to provide you with a "Closing Disclosure" ("CD") at least three days prior to closing. The CD will provide the final amount of funds needed to close. If you have a cash purchase, the closing attorney will provide the "Settlement Statement" which will similarly provide the final amount of funds to bring to the closing table.You can bring the final funds by a certified bank check or send via a wire transfer.If bringing a certified bank check, it should be made payable to yourself. Moreover, your lender may "source" the funds, meaning the bank check must be drawn from a bank account "sourced" (i.e., approved) by the lender. Thus, you should confirm the bank account with the lender before obtaining the bank check.If wiring the proceeds, you should obtain the wiring instructions from the closing attorney in advance of the closing. If wiring from a brokerage account, you should send the wire two days in advance to allow for enough lead time. If wiring from an institutional bank account, you should give yourself one day lead time.Additionally, you should bring two forms of identification to the closing, including a valid driver's license with a photo. A passport is a good back-up form of identification. A social security card also is acceptable. Credit cards are not acceptable forms of identification.You should schedule the "final walk-through" with your realtor in advance of the closing. The actual closing takes approximately one hour.At closing, our office provides pens, water, and/ or coffee. We also will give you the important documents to take with you, and email you a copy of the signed closing package as an encrypted PDF file for your records.The listing agent or the sellers attorney typically provides the keys at closing.

You can see the article in its entirety at the Canner Law blog.

Doyou have questions about buying or selling Boston condos or homes? In my 24+ years in the Boston real estate market, I havehelpedhundreds of people buy and sell Boston condos and homes. If you need assistance, pleasecall meat617-584-9790, or email me via the linkbelow. Boston real estate 

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Stylish and Spacious South Boston 2 Bed Condo $939,000

South Boston 2 bed condo#BostonCondos #BostonRealEstateThis tastefully appointed South Boston 2 bed condo is a 7 room townhome with 1,907 square feet of space. It offersdark walnut flooring, custom kitchen featuring professional Jenn-Air appliances, 36" 6-burner stove w/hood, granite counters, and convenient microwave drawer oven.This stylish homeislocated across the street from Medal Honor Park. It has2 1/2 spa-like bathrooms with Carrara marble. It has2 gas fireplaces, Bluetooth surround sound system throughout the whole house, a private deck, 9' ceilings on the main living floor, 8' doors, and custom walk-in closets.Rounding out this must-see home is a bonus room perfect for a guest suite or office, plus a 10.5' x 6' private storage room and one deeded outdoor parking space.See more photos and details for 3 M Street, #2.See other South Boston condos for sale.Ifyou have questions about this home, orare interested in seeing it,please call meat617-584-9790, or email me via the linkbelow. Boston real estate 

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Boston Open Houses October 1 & 2

Boston open houses#BostonOpenHouses#BostonRealEstateAre you searchingfora Boston condo or single family home?Here are the Boston open houses scheduled forSaturday & Sunday, October 1 & 2,in the downtown Boston neighborhoodsand beyond.To see the locations and times, click the neighborhood links ofinterest to you. If youd like tolook beyond Boston, click the Search for other neighborhoods and towns link.There are many more homes on the Boston market than there were a month ago. Inventory of Boston condos and homes for sale is still historically low, however, and that can often causenew listings to gounderagreement quickly. If youreserious about buying, get toopenhouses as soon as those properties come on the market.If you can,go withanexperienced broker (that would be me24 years and counting). That is,someone who canexpertly advise you, prepare and present anoffer for you, negotiate in your interests, and guideyour transaction throughthe various potential pitfallsthat can derail a Boston real estate deal. If you cant have me attend with you, please write my name in with yours on the sign-in sheet.In my 24 years in the Boston real estate market, I havehelpedhundreds of people buy and sell Boston condos and homes. If you need assistance, call me.

Back Bay South End
Beacon Hill Midtown
Waterfront Seaport
North End South Boston
Leather District Fenway
Cambridge Somerville
Brookline Newton
Charlestown
Search for other nhoods and towns

If youhavequestions about buying or selling Boston real estate, please call me at617-584-9790, orsend me an email via the linkbelow. Boston real estate 

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