What to Do with the Family Home 
When Making a Senior-Friendly Downsize

June 9, 2021 By

This unique article was contributed to the Boston Real Estate Observer by Tina Martin. Tina’s job is to help others achieve their dreams, so she started Ideaspired to inspire a wider audience.

Sometimes downsizing is a no-brainer.

Maybe you’re tired of the empty nest, your budget is getting tight, or you simply have too much house and not enough time to deal with it.

Sometimes it’s a tougher choice, especially if you can’t make up your mind about what to do with the old home.

Deciding what the future holds for your current house can be complex, especially if you have lived in it for a long time. 

Your decision might be further complicated if you’re planning to move to an assisted living community.  These communities are a terrific downsize choice for seniors, offering safety, comfort, and independence, and you can have an apartment-style home. Some offer holiday parties, fitness and entertainment centers, and transportation services, and all provide help with your daily tasks as needed. 

If you’re going that direction, seeing communities first-hand is the best way to make a selection. You can always do a little window shopping in the meantime by looking online. 

While you’re exploring your moving options, heed the following advice from Stuart St James when deciding what to do with the family home:

Real Estate for Seniors Downsizing

Put Your House to Work

Some seniors like the idea of both hanging onto the house and making money from it in the form of rent. However, as The Balance Small Business points out, landlords have a variety of responsibilities, and those responsibilities go on 24/7. 

Maintenance is an ongoing burden, and you need to do things like collect the rent, advertise for tenants, keep your books, and deal with problematic tenants. On top of all that, you’re still paying for insurance coverage, property taxes, and utilities. Those costs might be fully offset (and then some!) by your rental income, though.  

Those seniors who plan to live close and like the idea of tinkering with the old abode might find some of those aspects appealing. If you’re game, there are apps that lighten your workload. Another idea is to hire a property manager to take on the rigamarole, allowing you to just take in the rent checks – just remember a property manager will take about 10 percent out of the rent you earn, plus extra for fees and maintenance. 

Seniors Put Homes Up for Sale

Probably the most obvious option is to list the house for sale. It frees you up from the burden of ongoing maintenance and financial responsibilities, and the hassles of dealing with tenants. 

You do have to prepare the house for the listing, which might include cleaning and making upgrades to get a good offer. Sometimes sellers decide to sell a home furnished, which might be ideal if you’re heading to assisted living. Similarly, if your home needs major work, selling it as-is is an option. Your real estate agent can give you practical insights into the local market and help guide your choices. 

Seniors Pass Home to Family Members

When it comes to following your heart, passing your house to family members might sound like the best solution. However, Bankrate points out this option becomes complicated quickly. It could be included in your estate after your death, but that doesn’t free you from ongoing taxes, insurance, and so forth. Giving it to someone right now, outright, will sometimes involve gift tax. 

Some people think they can sell the property for $1, but that can get you in trouble because of fair market value principals. Additionally, it’s important to understand Medicaid has a look-back period of 5 years. That means if you apply for Medicaid within 5 years of the sale, your status could be affected. Because this choice is so complex, we recommend homeowners visit with an estate planning attorney before jumping into a decision. 

The Full Financial Picture

There is a lot to consider as you piece together the right solution for your circumstances. Remember that your new home might need aging in place changes, and even if you sell your house or keep it for passive income, you’ll have ongoing living expenses wherever you decide to live. 

Budgeting for your move is another must. Make sure you get prices from several professional movers, and compare what their quotes include as you do so. Also research what previous customers have to say about their experiences so that you can make an informed decision. Go the extra mile in checking them out; an ounce of prevention is definitely worth a pound of cure when it comes to finding a mover who is reliable and trustworthy. 

Deciding what to do with your home can be tough. Sort things carefully and get professional insights when necessary. There are several financial and personal motivations to contemplate, and you need to do what’s right for your future.  

Filed Under: Seller Advice

7 Tips for Selling Your MA House Faster During Winter

January 11, 2021 By

This unique article was contributed to the Boston Real Estate Observer by Pavel Khaykin. Pavel is a licensed Massachusetts real estate expert, specializing in creating custom property solutions for home sellers facing different types of situations.

It is true that most homes are sold in the spring and summer months, but that doesn’t mean you can’t successfully sell your property during winter, even a Massachusetts winter!

One season is not necessarily better than the other. Each has its own unique set of challenges. You may be forced to move during the offseason for reasons such as a new job or other life circumstances.

Regardless of the situation, here are 7 tips for selling your home faster during winter: 

Winter Home Massachusetts - Sell Your House Even While It's Snowing

1. Decorate According to the Season

Make the house feel warm, cozy, and inviting. A home is a place to rest and unwind from the day. Fortunately, it can be easier to create this relaxing environment during the winter months. You can decorate the house with blankets, pillows, rugs, and other accessories to set a calming tone. If the home has a fireplace, try to have it going during showings. Not only will this warm a cold house, it will also make the space more attractive to buyers. 

If you are selling your house around the holidays, don’t be afraid to put up decorations for this as well. Keep it simple and try not to go overboard. You may also want to refrain from religious decorations as this can deter buyers. Small touches of decoration can go a long way when it comes to selling a home. 

2. Fix Any Drafts

Windows and doors with drafts will be especially noticeable during winter with the cold wind blowing outside. When you are preparing the house, check windows and doors for noticeable gaps or cracks. Be sure to have these fixed before a showing. Even though it is a minor repair to you, but it could suggest further imperfections to an interested buyer.

3. Emphasize Lighting 

Winter days are typically shorter, and sometimes gloomier, than the average summer day. You want to make sure your home is well lit for buyers. For a showing during the day, open the blinds and draw back curtains to let in as much natural light as possible. If you have a showing at night, turn on all lights and lamps. It would also help to light some candles. Don’t forget to turn on the lights outside as well!

4. Don’t Forget Landscaping

It can be easy to neglect the front yard with colder weather. Curb appeal is very important, no matter the season. Be sure to have the driveway and walkways shoveled and salted, if needed, to prevent someone from falling. The landscaping still needs to look clean and trimmed. You should also consider decorating the front porch to add a pop of color. 

5. Focus on Online Marketing  

During the winter, people are more likely to be searching for homes on the internet rather than driving through neighborhoods. You want to make sure you are taking advantage of every opportunity to present your house for sale online. Have high-quality pictures made and engage with anyone showing interest.  

How to Sell Massachusetts House Faster During Winter

6. Post Pictures of the House in Summer

If you have recent pictures of your house during warmer months, don’t forget to include those in the listing. It can be tempting to concentrate only on making the house look good during winter. However, you want buyers to picture themselves living in your house year-round. 

7. Make Your House Stand Out 

With fewer properties on the market, you can make your house stand out. Most buyers are more serious about purchasing a home during this season. This can be very advantageous because anyone interested can receive more personalized attention. Be sure to highlight important details of your house that makes it unique and desirable. 

With fewer buyers, it might take more time for the house to sell. You will need to be patient and not lose hope if it doesn’t sell as soon as you expected it to. If you are looking to sell the house quickly, or don’t want to want to go through the process of putting it on the market, consider selling it to a professional home buyer. This is an option that will help you avoid repairs, showings, and all of the paperwork involved with using a real estate agent. 

If you are selling your house in winter, don’t be worried about the connotation this season has about the real estate market. You may need to shift your focus in other directions, but that doesn’t mean you can’t successfully sell your house for a great price. By emphasizing the key features of your property and strategically preparing it for buyers, you can make the home selling process a positive experience and lucrative decision. 

Filed Under: Seller Advice

Survival Tips for the Traveling Sports Fan

July 5, 2017 By

This article was thoughtfully written and contributed by Luke Murray from Council of Neighbors.

If you really love your team, there’s a good chance that you’ve at least considered making a trip to a different city to support them at their away games. Leaving the comfort of your own home, your own local bar, or your own stadium or arena (all filled with like-minded fans) can make even the most ardent sports fan a bit apprehensive. If you’re heading to Fort Point or elsewhere in the Boston area to follow your team, here are a few essential tips for finding a little piece of home.

The internet is your best friend

Before the internet, it was tough or often even impossible to track down a bar or restaurant friendly to your team when you were in a different city. Tracking down like-minded fans to enjoy the game with? Even harder. Today, the internet – especially through social media – connects anyone and everyone and makes it fairly easy to find your colors amidst a sea of opposing fans.

For example, TeamBarFinder is a crowdsourced site where you can search for a friendly bar wherever you are, for a variety of sports teams from the NFL, NBA, NCAA, and more. There are also plenty of fan-centric apps that allow people in the same vicinity to connect with each other and watch the big game together.

It may even be worthwhile to place a personal ad on a site like Craigslist, simply saying I’m a fan of X team and will be in X city for the game, does anyone know where I can find some like-minded fans?

Last, but certainly not least, don’t forget the massive power of social media like Facebook and Twitter. It’s easy to put out an open call for sports fans wherever you are, and any social media post has the ability to reach hundreds of people who can help.

Know the area you’re traveling to (do your research)

Showing up in the Boston area without any knowledge of its sports culture or fandom is a recipe for disaster. Get to know about the Red Sox, for example, if you’re going to be watching your team at Fenway or at a local sports bar. Areas like Fort Point are wonderful to visit on a sports-related vacation because of the wonderful sports bars that cater to a fervent fan base. If you do intend to make it to Fenway here are some great tips and tricks for having a great time while you’re there.

Be respectful

No matter where you find yourself (even among friends), you’re likely to also be surrounded by fans of your opposing team. It’s important to remember that, as an away fan, you may not be entitled to the exact same amount of in-your-face fandom as the fans of the home team.

“By all means, wear your team colors, but do it with restraint. A hat or scarf is great. A jersey is fine. A full team warmup suit accompanied with team pom-poms and face paint? That’s a little too much. Save that for when you are going to a home game,” notes DearSportsFan.com. “The same holds for your behavior. Don’t get belligerently drunk and scream. That type of behavior is permissible (some might say ideal) when you are rooting for the home team, but as an away team fan, you should be more demure.”

Don’t be afraid to travel to support your team. Boston will be happy to have you! If you brush up on our sports culture, remember to be respectful, and use the internet to find people and places friendly to your fandom, you can have a great time, even away from home. We think you’re going to love it here.

Filed Under: Boston

Garage Parking Space for Sale at Boston Ritz Carlton

September 27, 2015 By

Perhaps one of the most unique property ownership opportunities in Boston has emerged once again with the listing for sale of a Ritz Carlton self-park secure garage parking space for $110,000.

What’s so unique about a garage parking space available for sale in the middle of downtown Boston?

Well, a lot.

Boston garage parking space B3 16 in the Ritz Carlton garage carries no real estate taxes, no HOA fees, and no expenses of any sort, in perpetuity.

Not your standard piece of land in the middle of Boston, by any stretch of the imagination!

Boston Ritz Carlton Parking Garage Entrance

The Ritz garage offers owners the ability to self-park, something nearby condominium developments like Tremont on the Common or Grandview do not allow, which creates parking spaces that trade for less than $50,000, but carry exuberant monthly expenses (as an investor, it’s really hard to make the numbers work).

The Ritz Carlton garage has no residency requirements, so while it makes sense for a building resident to marry another parking space to their condo, investors, and even commuters can get in on the action at the Ritz.

Ritz parking space B3 16 is a reserved parking spot located near the garage elevator on level B3, and is a single non-tandem space.

The secure Ritz Carlton garage is located east of the intersection of Boylston and Tremont Streets, available to enter by vehicle on the north side of Boylston Street, while also accessible by foot via elevator off Avery Street. An Orange line T stop is adjacent to the garage.

For more information regarding this Ritz Carlton parking space for sale, listing your parking space for sale, or buying a downtown Boston garage parking space, contact us today.

2 Avery Street Ritz Parking Garage

Filed Under: Boston Parking Spaces Tagged With: ,

What $2.7 Million Buys in South End Boston

August 25, 2014 By

Look down at your feet.

See that one square foot that your feet are resting on, what if it cost $1,242.52 for your feet to be there.

That’s what the new owner of unit 401 at the Wilkes Passage condominiums in Boston’s South End enjoys. 3 bedrooms and 2.5 baths for $2,700,000, each one of the 2,173 square feet running $1,242.52 a piece.

1313 Washington Street Unit 401 Boston, MA 02118, which most recently sold on August 6, 2014 after being on the market for just 22 days, also has the distinction of being the most expansive condo to sell in the South End during the summer of 2014.

South End Boston Million Dollar Condos

Property Description: Spectacular loft at Wilkes Passage, a full-service elevator building, has three exposures with sweeping views of Peter’s Park, the city skyline & neighborhood rooftops.The open living/dining area steps out to a dramatic 900 sq.ft. private landscaped terrace.With views on three sides, the living room has a Spark gas fireplace & custom window seat w/ storage. The sleek chef’s kitchen w/ caesarstone countertops, dual ovens & dishwashers blends nicely into the living space with a long wall of custom cabinetry.Two large bedrooms have en-suite baths, walk-in closets & charming views.The den/library with custom floor-to-ceiling bookshelves and barn door opening leads to a great home office. Wonderful large wall of built-in storage closets & drawers in entry hall. 24 hr concierge, garage parking for two cars, irrigation system. Recently featured in Design New England. Google “A Novel Move Design New England”. This dramatic space must be seen in person.

Wilkes Passage, a contemporary South End condo development constructed in 2002 boasts a number of high end amenities from an onsite concierge to multi-level underground garage parking.

While Realtor Laura Spence served as the listing agent for this moat recent sale of unit 401 at Wilkes Passage, Realtor Lucas Garofalo represented the buyer and took home a 2.5% buyer’s agent commission according to MLS data, or $67,500.

The $1,340 monthly HOA fee for unit 401 includes heat, hot water, gas, water, sewer, master insurance, and elevator. The monthly condo fee includes a $140 garage parking fee (the sale of unit 401 was accompanied by two garage parking spaces in the Wilkes Passage parking garage).

Over the past six months, there have been five other condos that sold at Wilkes Passage. The average days on market for these units was 43 days – so unit 401 sold nearly twice as fast as the building’s average, somewhat surprising given that unit 401 was nearly two times the price of the next most expensive sale in the building. The average price per square foot of sold units at Wilkes Passage was $830, so the new owner of unit 401 paid a hefty premium above the market trend at Wilkes Passage – more than likely, to capture the triple exposure condo and the 900 square foot private roof deck, both of which are hard to come by in the South End, however, was it worth a 50% premium? The new owner apparently thought so.

South End Boston Roof Deck

South End Boston Luxury Bathroom

Filed Under: South End Condos Tagged With: , ,

What Landlords Need to Know about the Boston Housing 2020 Initiative

April 10, 2014 By

In September of 2013, former Boston Mayor Thomas Menino announced a plan that would greatly increase the amount of available housing within the city. Using a proposed $16 billion in public and private investment, the goal is to add 30,000 new housing units to the city by the end of the 2010s. A large portion, 25,000, of these homes will be priced at market rates, that is, whatever a buyer is willing to pay. The rest of the homes will be classified as affordable housing for middle- and lower-income buyers.

The Boston real estate market has exploded in recent years, with home prices growing at nearly double the rate that incomes are growing. The City of Boston hopes that increasing the supply of homes, in addition to setting aside some property for lower-income families, will make living in the city more affordable, especially for students and young professionals just starting out.

Boston is in a unique position. As one of the premier “college towns” in America, it has a large amount of young, eager talent ready to enter the workforce. However, many of these young graduates are choosing to live in more affordable areas as they get their careers started. This new housing initiative aims to increase the availability of more affordable housing in the city, in order to attract and retain young professionals.

Boston Housing 2020 Initiative

Photo Attribution: ‘Boston à l’heure bleue’ by Emmanuel Huybrechts available at https://flic.kr/p/8grTee under a Creative Commons Attribution 2.0. Full terms at .

Boston Landlords Impacted by Boston Housing 2020 Initiative

But what does the initiative mean for landlords? As of now, the initiative is focused only on increasing the amount of housing units available to buy. There is currently nothing in the plan regarding rental property or lease rates. However, increased supply and lower prices may make buying a more attractive option for some tenants, so rents may have to be lowered to remain competitive.

On key part of the initiative is an effort to streamline the permitting and development process. So if you are a developer in addition to a landlord who is looking to build units to lease, you could see some savings in your building costs. Be sure to check with local authorities to see if the subsidies apply for your specific project.

The initiative is focused mainly on providing affordable housing to residents of Boston. It is unknown at this point what kind of restrictions will be placed on investment properties, but if you plan on buying a property that will not be your primary residence, it is advisable that you have an attorney look over any paperwork that comes your way.

As America becomes more urban and people choose to remain closer to their jobs and nightlife, home prices in the areas will creep upward. Initiatives like the one in Boston aim to anticipate that growth and ensure that there are options for the future residents. Hopefully, more American cities will adopt this model and plan for America’s growth well into the 21st century.

This article was written for the Boston Real Estate Observer by Stephen K Hachey. Stephen is a real estate attorney specializing in loan modifications, short sales, foreclosure and much more. He is also the owner of his own practice, the Law Offices of Stephen K. Hachey. This article is for general informational purposes only and does not establish an attorney-client relationship. Please contact a licensed attorney in your state of residence. For more information on Attorney Hachey’s services, visit his website at www.floridarealestatelawyer.org.

Filed Under: Boston

How to Reduce Home Seller Liability

December 9, 2013 By

Please welcome guest author Ed Englander – Ed Englander is a partner in Englander, Leggett & Chicoine, P.C., a Boston law firm with particular expertise in land use and real estate issues.

In today’s competitive real estate market, buyers are writing heart-warming letters to sellers about why they would be the best owners for the treasured family homestead. Sellers with a handful of competitive offers are often making decisions based on their interactions with the prospective buyers. Emotions are trumping the fact that selling a home is a sophisticated legal transaction and should be treated as such.

Much as they may like to get to know the buyers of their treasured family homestead, sellers should keep their distance. Friendly banter between buyer and seller could result in legal headaches down the road for the sellers.

Sample Legal Case

I recently defended the seller in this case:

In 2006, the Fowlers (a fictitious name) put their home of 35 years on the market. The history of the Fowlers’ connection to this land dated back to the 1930s, when Mr. Fowler’s father purchased a farm. Mr. Fowler had been raised on the farm, portions of which had been used for various activities over the years including a pig farm and a town dump from 1955 to 1978. In the late 1960s, Mr. Fowler’s father carved out a roadside house lot from the farm and deeded it to his son. Mr. Fowler built a home for his family on the lot.

While this home was on the market, the Fowlers felt it was important to be present for every showing to keep their dogs under control. During one of the showings, a prospective buyer chatted with Mr. Fowler while he was minding his dogs in the breezeway. The potential buyer asked, “What was all that land?” Mr. Fowler answered by pointing out the old farm house where he had grown up and told the buyer that the property used to be his father’s pig farm. Mr. Fowler never mentioned that part of the property had been used as the town dump from 1955 to 1978.

The potential buyer subsequently purchased the property in August 2006. The Fowlers moved on to Florida. The buyers sued the sellers in 2008, in Massachusetts, for claims of fraud, intentional infliction of emotional distress and civil conspiracy — all because Mr. Fowler shot the breeze in the breezeway and he failed to disclose the adjacent farm had been used as a town dump in the course of the conversation.

The sellers had no choice but defend the lawsuit which, after five years of discovery and motions, went to a jury trial in the Norfolk Superior Court. After five days of trial and two days of deliberation, the jury returned a verdict for the Fowlers because the buyers did not reasonably rely on the conversation in the breezeway.

Simple Steps to Reduce Seller Liability

Loose lips really can sink ships in real estate transactions. The best way to minimize seller liability is to keep the buyer/seller relationship as formal and separate as possible. I recommend that:

  1. Buyers and sellers never meet in person;
  2. Buyers should be informed by the seller’s real estate broker if the buyer has a question they deem important. The question should be asked in writing and the seller should answer in writing; and
  3. Attorneys for sellers should add a clause to the purchase and sale agreements that states “any questions the buyer(s) have deemed important have been asked in writing and the seller(s) have answered those questions in writing, and attached are copies of the questions and answers.” If the buyer(s) have asked no questions then the purchase and sale agreement should state “The buyer(s) have asked no questions.”
Filed Under: Real Estate Law

South End Boston Entry Only MLS Listings

November 14, 2013 By

2013 continues to see a rejuvenation of the real estate market, and Boston’s South End has seen condos sell for record prices and move off the market and under agreement quickly. One of the South End’s most recent condos to go under agreement is a duplex listed for sale by owner using an entry only MLS listing.

The owner of 85 Dartmouth Street #1 Boston, MA 02116 listed their South End duplex for $970,000 ($669 per square foot) using a flat fee Boston entry only MLS listing from Entry Only New England. Why are condo owners in Boston trying to list and sell their own home using the MLS instead of paying a listing broker who charges a full commission?

“Our all digital platform allows Massachusetts property owners to quickly and easily list their property for sale or rent in the official Massachusetts MLS system, which is syndicated to thousands of websites and buyers, for a one-time flat fee. We allow a FSBO to eliminate the listing broker commission when selling their own home, which can translate into literally thousands of dollars in savings on real estate agent commissions,” says Dean Charles, spokesperson for Entry Only New England.

85 Dartmouth Street #1 went under agreement in just nine (9) days, and if the FSBO seller gets their list price, they’ll save nearly $24,000 in real estate agent commission.

Boston Entry Only MLS Listing - 85 Dartmouth Street #1 in the South End of Boston

Boston Entry Only MLS

Entry only MLS listings across Massachusetts are at record levels.  2013 stands to be a banner year for the popularity of flat fee MLS listings, and the Massachusetts real estate market, as well as that of Boston, seem poised for additional growth in FSBOs selling their own homes without a Realtor.

The number of Boston entry only MLS listings is on the rise.  While it does not look like the number of sold listings in 2013 will outweigh records seen in 2010, the Boston market specifically is poised to see year on year growth in flat fee MLS listings being sold across all property types, including single family homes, condominiums, multi family, and residential rentals.

Filed Under: South End Condos Tagged With: ,

Upcoming Boston Negotiation Workshop with Moshe Cohen

October 15, 2013 By

Negotiation in real estate remains one of the fundamental tactics leveraged by the most successful Realtors and real estate professionals as well as savvy sellers and buyers.  To be taught the art of negotiation can elevate a Realtor’s ability to close a deal, and “win” for their client.  Why not get taught by one of the very best.

Moshe Cohen, one of the foremost authorities on negotiation and an expert instructor, will host his next Public Negotiation Workshop in the Boston Area on Tuesday, November 12, 2013 in Harvard Square, Cambridge, MA. The topics covered include the following:

  • Competitive negotiations strategies and traditional bargaining tactics
  • Negotiating styles and their implications
  • Collaborative negotiations frameworks and strategies
  • Preparing for your negotiations
  • Communicating effectively as you negotiate

The workshop is dynamic, experiential (no powerpoint), informative, and fun. To see what others have said about Moshe and his workshops, check out a sampling of negotiation workshop recommendations on Moshe’s website.

The upcoming workshop runs from 8:30 am to 4:30 pm and includes a light breakfast and lunch. The fee for the day is $425 per person ($395 if you register by 10/31/2013). Group discounts are also available for groups of three or more people. The workshop will take place at 20 University Rd, 7th Floor, Cambridge, MA 02138, next to the Charles Hotel in Cambridge, MA, accessible by public transportation and with nearby parking.

To register, please email Moshe at moshe@negotiatingtable.com or call (617) 577-0101.

Filed Under: Boston

Lexington MA MLS Broker Open House

August 12, 2013 By

Currently scheduled for Wednesday, August 14, 2013 from 11:00 AM to 1:00 PM is a Broker Open Tour of 12 Holton Rd, Lexington, MA 02421.  Food and refreshments will be provided, and Brokers, Agents, Contractors, and Buyers are welcome to attend the two hour event to show off the three bedroom two bath Lexington home.

The public remarks on the renovated home include:

Move right in to this updated home in sought-after Lexington school district! Family-friendly neighborhood. Cathedral-ceiling living room with new high-efficiency wood stove. Sliding doors open to private, refinished deck overlooking Japanese maples and conservation land. Large master with bath. Extensive recent updates include new roof, furnace, kitchen cabinets and appliances, refinished hardwoods floors, high-end light fixtures and designer paint inside and out.

Lexington MA MLS Listings

There are currently 78 single family homes listed for sale in Lexington, MA. Over the past six months in Lexington, there have been 226 single family homes that have sold, the average days on market has been approximately 50, along with an average sales price of $975,501 (average price per square foot: $349).

Lexington MA MLS Listing - Living Room

Lexington MA MLS Listing - Breakfast Nook

Lexington MA MLS Listing - Renovated Bathroom

Lexington MA MLS Listing - Outdoor Space

Filed Under: Boston Open Houses
« Previous Page
Next Page »