Massachusetts Real Estate Rebate“Bay State” Information, News, & Opinions About Real Estate Rebates.

Mandarin Oriental Is One Of Massachusetts Finest Residences

The Mandarin Oriental is a highly anticipated luxury real estate project located at 800 Boylston St in the Back Bay of Boston Massachusetts. The building will feature 50 condominiums, 25 apartments, 148 guest rooms and mixed retail space including a 16,000 square foot spa. The Mandarin and its highly touted management team promise to provide the highest quality of service to all who reside in its quarters.

The Mandarin Boston will open in October 2008. It was originally slated to open in July of 2008 but after a fire that seriously damaged the spa; the opening date was pushed to October. There are currently three condos available in this citadel of luxury. The amenities include the renowned Mizu Salon, a huge fitness center and spa, restaurants, and 5-star hotel services at the push of a button. And for an added bonus, the mandarin is adjacent to the Prudential Center, Copley Square and one block from Newbury Street. Residents also have indoor access to the Acela Express train to New York directly from the hotel.

To schedule a showing please contact SharpBuyers.com, Boston’s Standard For Luxury Real Estate

Why Give A Real Estate Rebate?

Hello, My name is Robert Nichols and I am the Co-Founder of SharpBuyers.com. Today I would like to address the question of why and how are we able to give a real estate rebate. The reason I feel it is necessary to explain this, is that many Bostonians have recently called me with a lot of skepticism about the concept. They believe that it is too good to be true. Well I am here today to tell you that this is indeed true and here is the how and the why.

The first issue I would like to address is the legality of Real Estate Rebates. Real Estate Rebates are legal in all of the United states excluding Alabama, Alaska, Iowa, Kansas, Louisiana, Mississippi, Missouri, Tennessee, New Jersey, Oklahoma, and Oregon. This means that all Boston and Massachusetts buyers qualify for a real estate rebate. In fact, the majority of United States consumers can take advantage of this opportunity to receive quality real estate service and a rebate in the process. This will save you thousands of dollars.

The next order of business is how we can afford to do this. The real estate industry generated over $60 Billion Dollars in residential sales commissions in the U.S. during 2006 and slightly over $55 Billion in 2007. This gives you a better understanding of the type of capital that the industry generates. By cutting our commission we will increase our volume and our market share.

So what does it take to qualify for a rebate? absolutely nothing. All you have to do is call us. The rebate will range in percentage depending on how many properties the buyer’s agent shows you. The maximum rebate is 50% of our total commission. This system is ideal for all home buyers. If you have ever gone to an open house on your own or driven by a property that your agent has emailed to you, you will greatly benefit form our system.

SharpBuyers.com coverage areas encompass every state where rebates are legal including, Massachusetts, California, Washington, Illinois, Georgia, Florida, Arizona, Ohio and Nevada. We are located in downtown Boston and thus, the majority of our buyers are Bostonians.

10 Steps To Buying A Home In Massachusetts

SharpBuyers.com 10 Steps To Buying A Home In Massachusetts

For most people, purchasing real estate will be the biggest investment they ever make. It is a decision that will have lifelong implications. These effects can be either positive or negative. This is why it is important to understand the key factors to consider before purchasing real estate. We have provided this 10-step guide to give you some insight about the home buying process.

Step#1 - Figure Out How Much You Can Afford
To find out how much you can afford, it is best to speak with a Mortgage Professional. I would advise that you go your primary bank first. Your primary bank is an institution you can trust and they should be able to answer all of your questions about financing. You can also talk to a Mortgage Broker. To find a good mortgage broker you should consult with you friends and/or family who currently own a home.
After talking to a Mortgage Professional you will know weather or not you need a down payment, how much of a down payment you will need, your potential interest rate and all of the necessary criteria required to qualify for a loan. Once you choose your lender and provide them with the necessary documentation, you will be given a Pre-Approval Letter that states how much you can afford, your interest rate and the terms of the loan.
Note:
1. Not all Lenders are created equal so it is a good idea to shop around.
2. Make sure you are given a Pre-Approval letter not a Pre-Qualification letter.
3. Beware of the bait and switch technique. This is when lenders get your attention by advertising an attractive interest rate only to increase it after you are locked in.

Step#2 - Choosing the Right Property For You
The decision of what type of real estate you purchase will consists primarily of , how much you can afford and your reasons for buying. After consulting with a lender, you will know what you can afford in terms of a Condo, Single Family Home, or a Multi-Family property.  The questions you should ask yourself is “What are my goals for my real estate purchase?”  This will help you better define what type of property suits your needs. The financial commitment is significant, and not every property fits the needs of its potential suitor, so it is important that you consider the goals for your real estate purchase, both short term and long term. For example if it is going to be your primary residence, you want to make sure it can comfortably accommodate your current and future family i.e. children or in-laws. If the market takes an unfavorable turn and it become difficult to sell then you can still live comfortably in your home until the market recovers.
Key Points: Always consider the short term and Long term goals of your real estate purchase. It all stars with your reasons for purchasing real estate.

Step#3 - Finding a Home
Now that you understand the lending process and have narrowed down the type of property you are looking for, its time to start looking. So where do you start? I would recommend finding a local real estate professional. For help finding a Realtor, log on to SharpBuyers.com. The best part about this is that it is free. You will have professional representation at no cost to you, and it will surely make the process a lot smoother.  Buyers Agents are paid at closing by the seller. The total commission is split between the buyer’s agent and the listing agent. If you choose a buyers agent  through SharpBuyers.com, you can receive up to 50% of their commission at closing. It is truly the best of both worlds. Professional representation and money in your pocket.
Key Points: It is best to hire a Buyer’s Agent. It is free and it will save you time and money in the process. SharpBuyers.com will refer you to a local Realtor that will provide professional assistance and a rebate at closing!

Step#4 - Attorney or No Attorney?
As a real estate professional I would strongly advise all buyers to seek the advice of an attorney before entering into any negotiations. Real estate brokers and agents are professionals at finding an ideal home and negotiating the terms, but attorneys are experts at reviewing and explaining contracts. As a result, it is best to have an attorney review all contracts before entering into any agreements with the seller. The best way to find a good attorney is to ask your real estate agent. Real estate agents regularly work with a number of attorneys in many different capacities and know which attorneys will be best based on your specific needs.  It is in the agent’s best interest to recommend an attorney that they know is competent, trust worthy and focused on protecting their clients interest.

Step#5 - Your Offer, Negotion 101
Before placing an offer on a home you should know how much it is worth to ensure the listing price is in line with the actual value. Ask your agent to provide you with a CMA (Comparative Market Analysis). A CMA compares homes based on size, location, condition and several other factors to estimate the value real estate in a given area. As a result you will see what similar homes have recently sold for. This will give you a better understanding of the market and help you to better gauge your offer. It is also important to understand that everything is negotiable. For example if you see any furniture, appliances, a chandelier or anything that you like, include it in the offer. This strategy can sometimes give buyers more leverage when negotiating. Even if the seller does not want to sell their personal property, it gives you the buyer an additional negotiating point. It also is important to include contingencies in the offer as well. The most common types of contingencies are a mortgage contingency and an inspection contingency.

Step#6 - The Home Inspection
A home inspection is an essential part of the home buying process. Every buyer has a right to have a home inspection and I highly advise buyers to take advantage of that right, even if it is new construction. It is best to ask your agent to provide you with a recommendation for an inspector. They work with multiple inspectors and will likely refer you to an inspector that is right for your needs. Purchasing real estate is the most significant investment many people will make during the course of their lives. A home inspection will validate that you are investing in a good home or uncover significant defects that you would otherwise not have known about until moving into the home.  It is far more valuable to know what you are buying before you buy, then to invest hundreds of thousands of dollars into a property that is not worth it. So what happens when defects are discovered by the inspector? In most instances the buyer and seller come to a mutual agreement on how to deal with the issues. Sometimes the seller may agree to take care of the issues. In other instances the buyer may assume the responsibility for a discount in the price. It really just depends on the specifics of the defects. As a buyer, it is best to know as much about your home before you purchase it as possible.

Step#7 - Mortgage Application
Once of all the terms are finalized following the home inspection, it is now time to complete your mortgage application. The first step would be to inform your lender or bank that you have signed a P&S (Purchase and Sale Agreement).  They will ask for a signed copy of the P&S along with other financial documents needed to complete your loan application. It is important to get this application in as soon as possible so the bank has as ample time to process your application. In accordance with the P&S, the bank must provide the buyer with a commitment letter or a declination letter by a specific date. The commitment letter states that the bank is going to give you the loan. The declination letter states that you have been declined for the loan and cannot purchase the property. If the lender does not supply this, they buyer runs the risk of forfeiting their deposit if they are not approved or declined for the loan within the given time. If you need more clarification on this, ask your real estate agent.
Key Points: Make sure the your lender supplies you with a commitment or declination letter before the commitment date. If not you could end up losing thousands of dollars.

Step#8 Insurance Binder
After the bank provides a commitment letter, the only additional requirement is the insurance binder. Before the bank can complete the loan the buyer must purchase home owners insurance. It is best to get three quotes when shopping around for home owners insurance. The first quote should come from the provider of your car insurance. In many instances the insurance company will give you a discount for insuring  your home and automobile with the same provider. You should also gets recommendation from friends & family and your Realtor. These are all sources that you can trust and it will insure you get the best. The insurance binder is then sent to the lender prior to closing. Now the funds are all set to be released on the specified closing date.

Step#9 - Reviewing The Settlement Statement
1-2 Days before you close, the closing attorney, who represents the bank lending you the funds, will provide you and the seller with a settlement statement (also called a HUD) for your review. It is important that you, your attorney and your Realtor review the charges, fees and adjustments to ensure everything is correct. The HUD will have all of the information such as the closing costs, tax adjustments, utility adjustments your real estate rebate and several other fees. It will also state the amount you need to bring to closing. Any funds brought to the closing should be done in the form of a certified or bank check.
Note: The seller will have to make sure the home meets the local fire code and provide final utility bills prior closing.

Step#10 - Closing
So what do you need to bring to the closing? you will need at least 2 forms of identification, a certified or bank check for any additional funds and a good pen for all of the documents that you will be signing. The closing is typically attended by the buyer(s), seller(s), closing attorney, your attorney and the Realtors involved in the transaction.  Your attorney will explain all of the documents to you prior to signing any of the disclosures at the closing. Once you are finished signing, you will receive your keys. Congratulations! Now its time to figure out how your going to spend your real estate rebate from SharpBuyers.com!

Real Estate Rebates Save Home Buyers Thousands!

SharpBuyers.com agent’s give home buyers up to 50% of their commission to pay their closing costs!

The Beginning Of The Real Estate Rebate:

Society as a whole has been significantly impacted by the emergence of the Internet. It has made the world a smaller place and has intern changed the way we communicate and conduct business. It has helped companies target their clients through avenues such as Google &Yahoo, and has subsequently put the products and information that consumers looking for, at their finger tips. Social Networks such as Myspace and Facebook have made it possible to stay in contact with friends and family around the world via the Internet. As time passes these changes and effects will become more wide spread and alarmingly self evident. One such industry that stands to be dramatically affected is Real Estate.

For decades, the real estate industry has been defined by traditional representation in which an agent charges the seller a commission to market and sell their home or represents buyers through the entire home buying process. In the past, the traditional model was the staple of the real estate profession and it faced little to no opposition. This has begun to change. With the dependency that society and has developed on Internet, creative minds have begun to develop new models that cater to every type of consumer. As a result, consumers no longer have to settle for the “One Size Fits All” traditional model, but have a choice in choosing the type of service that fits their real estate needs.

New Models

Consumers may now choose between a variety of real estate products and services. These services are characterized by enabling buyers or sellers to seek specific real estate assistance as opposed to the whole package. In the case of sellers, real estate agents will charge a fee only for the services they provide. For example, a seller may only want to list their home on MLS (Multiple Listing Service Used By Real Estate Professionals around the Country) for the added exposure, and require some assistance drafting a purchase and sale agreement. Listing a home and receiving assistance with a P&S will cost you hundreds of dollars as opposed to paying a 5%-6% commission that would cost thousands of dollars. On the other hand, buyers who are interested finding a home on their own or willing to participate in the initial house hunting work, can receive a rebate at closing. This model gives buyers the professional assistance of a realtor and rewards them for their efforts with a portion of the commission at closing. One company that gives a rebate is SharpBuyers.com. They are is a national real estate rebate company based out of Boston Massachusetts. They have agents all throughout the country that will help buyers find a home and give them a rebate at closing. Another emerging model is real estate consultants. These are licensed real estate professionals that exclusively charge flat fee’s for specific services.

The brokerages that offer these innovative real estate services are referred to as Discount Brokers, Rebate Agents, and Real Estate Consultants. It can clearly be seen, that all of these new models engage the buyers and sellers in the home buying or selling process. Subsequently, this model is ideal for the home buyers of tomorrow, generation X and Y. These are tech-savvy home buyers and they are not afraid to delve into the process if it means they will save thousands of dollars. Ten years from now, generation X will collectively be in their early and mid 30’s. Many will use the traditional method to buy their first home, while others will seek out innovative brokers. How will the market share shake out in 2017? Only time will tell. It is anticipated that many traditional brokerages will be forced to adapt to a mixed service model, meaning they will offer both traditional and discount services to buyers, rather than one or the other. This may prove to be a necessary strategy if traditional brokerages would like to remain competitive after 2020. The new real estate business models enable consumers to have the best of both worlds, professional assistance and more money in their pockets.

Real Estate and The Internet Today

In today’s world, the effect that the Internet has had on real estate is extremely apparent. As the popularity of the Internet initially grew, many agents were concerned that consumers would cut them right out of the deal. To date, this has not been the case. The real estate industry has come to embrace the Internet and all of the great marketing tools that it has given birth to. It has also helped real estate professionals have better access to listing information, recent sales history and various statistical data reports. Leonard Nomura of Bentley Real Estate Group says he could not imagine life as a broker without the Internet. The numbers are astounding. According to the National Association of Realtors,(http://www.realtor.org/press_room/news_releases/2006/hmbuyersellersurvey06.html) 77% of home buyers used the Internet to find their homes in 2005. This has steadily grown from 2% of buyers using the Internet to find their homes in 1995 and is now over 85%. According to clickz.com(http://www.clickz.com/showPage.html?page=824471), 50% of all consumers who surf the web, do so with the intent to purchase consumer goods and services. This includes Real Estate, automobiles, clothing, music and anything else imaginable.

As a result of the emerging mixed service models, consumers can now choose from a range of real estate services that did not previously exist. It is believed that many real estate professionals see these new models as a threat because of their ability to significantly impact the traditional real estate brokerage’s market share. According to Real Trends an industry newsletter, alternative Real Estate Models currently make up 2% of the market, but could grow to 12% by 2010. (http://www.realtrends.com/go/). The transformation of the real estate industry has only just begun. Time will tell the true story of how the market will shake out but the bottom line is, alternative real estate models are putting money back into consumer’s pockets and you will always put a smile on someone’s face when you show them how to save thousands of dollars.

About Us

SharpBuyers.com is a national real estate rebate company based out of Boston Massachusetts. It was founded by Robert Nichols and Leonard Nomura. SharpBuyers.com is a division of Bentley Real Estate Group. We currently offer buyers rebates in every state where rebates are allowed, including California, Illinois, Florida, Georgia, Massachusetts, Washington, Virginia, and Maryland. We offer Seller services in select states as well. Please contact (Link) us to find out about our seller services coverage areas.

SharpBuyers.com was formed to provide comprehensive real estate services, enabling customers to attain the maximum value from their real estate transactions, and to give clients a broader range of real estate services. SharpBuyers.com feels that the Internet will change the way real estate will be sold and purchased. As a result SharpBuyers.com aims to be one of the first companies to bring awareness to this change by assisting real estate brokerage firms in expanding their business by offering rebates.

Market Report: Selling In A Declining Market

Attention sellers, we are currently in a declining market. If you are serious about selling your home then it is critical that your Realtor understands the dynamic between the market trend and your home’s value. Let me explain. The longer your home is on the market the lower the market value. In order to sell your home as quickly and profitably as possible, you must get ahead of the trend. The 6-month trend for Boston Single Family homes is a 7.79% decline in values and a 36% decline in volume. This is based on the median sales price in Boston from May 2007 to October 2007. This gives us an average monthly decline is 1.3% in value. If you are serious about selling your home then you should seriously consider reducing the price by 1.5% - 2% to get ahead of the negative trend. It may be painful to consider but it will save you money and time in the long run. Also, make sure that your home is accurately valued before your Realtor reduces the price. If you reduce the value by 2% and it wasn’t priced appropriately, your home will not sell. Read More…