McCormack and Scanlan Real Estate

Jamaicaway mansion

Karen McCormack — Tue, 24 Mar 2009 18:43:15 +0000

Bought by Vinfen. Some neighbors are not happy about Vinfen buying this 3846 sqft home in their backyard.
The hopes, a neighbor suggested, held by many, was that a family would move in and use the space and the land.
The home sits on 16,006 sqft of land. Bought without a mortgage (as stated in public records) for $900,000.
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The JP Gazette did a story than ran Friday about the residents that will be living there. http://www.JPGazette.com

Open Houses

Karen McCormack — Mon, 23 Mar 2009 20:28:23 +0000

14 Kingsboro Park – Sunday

History of Your House

Karen McCormack — Mon, 23 Mar 2009 19:50:10 +0000

Did you know?

(Reprinted from www.jphs.org/books)
Jamaica Plain Historic Society

How to Find the History of Your House and Lot?

Find a wealth of informational sources for learning the history of a house or lot. Learn how to search municipal records, find original homeowners, and locate tax assessor’s records. You will learn about title searches, deeds, mortgage records, property plans, and Probate Records. Also included is information about street names and Boston Landmarks Commission Preservation Studies. You will learn that the Fine Arts Department of the Boston Public Library has an extensive card file of information on Boston buildings and architects, including references to books, articles, obituaries, prints, photos, and plans. Additional sources covered by this pamphlet include city building permit records, the Boston City Directory, local newspaper archives, Boston Fire Department records, collections of early photographs, and the archives of utility companies.

This pamphlet also contains an eclectic guide to places and institutions in Jamaica Plain’s history. Learn how Jamaica Plain took its name, the chief streets, the Monument, Eliot School, Eliot and Curtis Hall, significant surviving residences, Pinebank, Curley House, John Hancock’s country-seat, Allandale Spring, Peacock Tavern, Seaver’s Store, First Church, St. John’s Episcopal Church, schools, Forest Hills Cemetery, Arnold Arboretum, Faulkner Hospital, and about some notable residents of Jamaica Plain.

McCormack & Scanlan Real Estate has the same colors as the Jamaica Plain Historic Society. Jamaica Plain High School used the same colors. (now beautiful apartments).

Welcome to Nesting

Karen McCormack — Mon, 19 May 2008 18:10:53 +0000

Welcome to Nesting.

Mobile post sent by karen8red using Utterz. Replies.

Non Verification Loans

Karen McCormack — Thu, 05 Apr 2007 04:18:33 +0000

An acceptable situation for non-verification of income is, per the FNMA and FHLMC guidelines, when the layering of risk is sufficiently low that supporting documentation is not required.

In plain English, if you have:

1. high enough FICO score
2. sufficient reserves
3. sufficient income etc.

Fannie Mae *does not want* the stack of paperwork. The intention is for process simplification and paperwork reduction, not to enable people to get a loan who shouldn’t.

FICO Scores

Karen McCormack — Thu, 05 Apr 2007 03:52:33 +0000

FICO Score–
Excellent credit is a requirement for obtaining conventional home financing, not a compensating factor, and depending on the amount of down payment, someone with a FICO score of 620 will get the exact same rate as someone with a FICO score of 811.

Unfortunately there is far more inaccurate information out there about credit scoring than there should be, and there have been people in the mortgage industry that have used this to their advantage to provide financing at higher rates than necessary(maybe not a whole lot higher – .125% could be all, but that is generally profit for the loan officer.

For an opposite example, I had a client who had a substantial amount of equity but a mid FICO of 590 – below the FNMA threshold of 620, but FHLMC (Freddie Mac) does not have a minimum credit score requirement. He got the same rate as anyone else that would have had an identical financing scenario other than the FICO score.

Sell Your House Faster

Karen McCormack — Mon, 02 Apr 2007 14:29:32 +0000

1. Go for the minimalist look so buyers can picture their own decor.

2. Don’t over-price.

3. Get the best broker around.

4. Market, market, market

5. Offer a 2% “seller contribution” to help a buyer pay for closing costs.

6. Make sure the house will pass inspection with flying colors.

7. Get buyers feedback after a showing or open house.

Looking For An Agent? Watch Them In Action

Karen McCormack — Mon, 02 Apr 2007 02:56:37 +0000

If you are a regular reader of this blog, you’ve gotten sound advice on ways to get a great agent, like research and referals.

Well, Open House season is in full swing, and that means you can see agents in action, while also seeing what’s on the market.

When you see an agent at an open house you know they have experience. You can observe them in real life interaction and determine if they would be a good fit. Take all of their printed material so you get a feeling for their marketing approach.

This is proactive at its best.

OPEN HOUSES

Jamaica Plain Fun Run

Karen McCormack — Fri, 30 Mar 2007 03:22:07 +0000

- Run as little as one mile or as much as 18 miles

- Water/ Gatorade support provided for all loops

- Post-run brunch at 70 Montebello Rd. sponsored by Joe Fallon, McCormack and Scanlan Realtors

- $1/ minute Chair Massages by Beth Abelow of Sun Moon Shiatsu

Community Running

Record Breaking Foreclosures Filed

Karen McCormack — Thu, 29 Mar 2007 11:34:16 +0000

The number of homeowners threatened with foreclosure last month more than double from a year ago. 2,207 Massachusetts homeowners were served foreclosure notices, a one month record.

If you think about it, subprime mortgage lending actually causes a decrease in homeownership.

Foreclosures Mass.