Article 1 (Can Flowers Really Make a Difference?) Article 2 (Finding The Right Home) Article 3 (Q&A with Michael Merrill) Article 4 (Seven Simple Steps To Processing A Mortgage)

Can Flowers Really Make a Difference? By Sara Rosenfeld, Sr. Vice President, Co-Manager of Hunneman & Coldwell Banker Whether you are a homeowner or a tenant, we all appreciate beautiful surroundings. Some parts of our lovely Metro Boston area have been looking much better lately thanks to many people who work countless hours on their gardens, window boxes, flower barrels, or a flower pot, by just planting flowers and "cleaning-up around their home." Can these efforts make a difference in the property values of your neighborhood? Can a little bit of extra color and sprucing-up add to the desirability of your home? Gardening has been a favorite hobby or pastime for many people. It is also considered a good form of exercise! Adding some flowers to your environment gives many a very good feeling. If you are considering selling your home, a good realtor will always suggest for the homeowners to add flowers, both inside and outside the home. This added feature could even make your property more desirable than the competing properties on the market, resulting in not only the sale, but also the sale at a better price of your property. My 16 years of working as a real estate professional has been limited to the communities in and immediately surrounding Boston. If you are a city property owner, whether it is your primary residence or rental property, one of the most inexpensive ways to increase the "value" of your home is to work on your landscaping and "cleaning up" the exterior of the property. Keeping the exterior of a city home clear of any trash or debris takes work. I believe it is the responsibility of not just the homeowner, but also the tenants who are occupying the property to help in keeping it clean. The results are that everyone benefits! As a landlord, I encourage my tenants to plant gardens and I, as the property owner, participate in the cost (remember the cost is tax deductible). The results are wonderful since the tenants love having a beautiful environment and take on the responsibility of maintaining the garden. As the property owner, I benefit from having a better-looking house resulting in an increased value for my home. What happens if you don't have a yard to landscape? I am sure you have seen how many of our larger buildings around town are boasting their addition of flowers to the exterior. Large planters are starting to adorn stair entries. Hanging baskets of flowers are dangling from the tops of porches. Window boxes full of flower arrangements are springing up all over the place. It is not too late for you to join in on the fun! Check out the garden centers in many of your home improvement stores and department stores in the area and you will discover a large selection of the items you can use to beautify by gardening. My favorite ones to suggest to occupants of apartment buildings or condos are the new line of white wire window box holders and flower pot holders that can be easily installed and removed. If you have a window, you, too, can have a garden! Condominium associations have decided to invest some of their common funds in additional landscaping. If you live in a condo that has not joined in on this trend, I strongly suggest that you bring it up with your fellow condo owners. Many condo buyers working with the agents in our office are making comments about the buildings that have added the extra landscaping. Don't forget to add a little color to the community, too! My thanks to the growing number of business owners who have added flower boxes to their windows, barrels of flowers to the sidewalk outside their stores, or planted around the based of a city or town owned tree in front of their business. They have all helped to make our surroundings that much nicer! My special thanks to the agents in my office who have joined David Freidberg, my co-manager and me in helping to clean up Route 9 in Chestnut Hill for our fourth consecutive year of participation in the Adopt-a-Highway Program. And, thanks to J.C. Nachtway and Susan MacDonald for their extra effort in hanging and planting a flower box on our Adopt-a-Highway sign!

Finding The Right Home By Judy Moore With all the choices in today's market, how do you go about finding the right home? It seems the more research you do, the more alternatives you discover. It's important to visualize your needs and plan ahead. "Know what you want in a home, what's important to you, and what you can live without," Judy Moore, president of the Residential Association of Realtors says. "Many of us start out with a champagne taste and a beer pocketbook, so it's important to be realistic," she adds. Where and what you buy will affect you for as long as you live in the house. "Get your priorities in order before you start looking or even talk to a real estate broker or sales associate," Moore says. For first-time home buyers this is a new experience, so it's especially important to do your homework. If you currently own a home, you know exactly what's lacking. You may need another bedroom or bathroom, or a good school nearby. First, decide where you want to live. A big part of the answer hinges on where and how you earn a living. if your job requires a lot of reading or is quite stressful, public transportation may offer valuable time to sit quietly. "Regardless, you should practice the commute in rush hour before you make the commitment. A seemingly quiet road can transform into gridlock during peak hours," Moore cautions. People with children have other major considerations: school and safety. If you plan to send your children to private schools, you can live where you want assuming you can easily arrange transportation. On the other hand, a lavish public school system may indicate high local real estate taxes. Check them out. Obviously, lifestyle is an important consideration. People who frequently dine out, go dancing and attend the theater probably belong in the city or a close-in suburb. "In other words, make sure you're in close proximity to the things that matter most," Moore says. It used to be that homes came in a limited variety, but today, you have many choices. In addition to the traditional single-family home, you can buy a townhouse, condominium or apartment condominium or co-op. In planned unit developments (PUDs), you can find almost ant combination. In condo and other such communities, make sure the rules and regulations, as well as the by-laws, match you lifestyle. This type of housing is great for people who want to own their own space without being responsible for mowing the lawn or repairing the roof; a management company handles that. On the other hand, you'll pay fees for these services. "In addition to checking the documents and financial soundness of the homeowner's association, you must determine if the monthly fees are worth the services and additional amenities such as swimming pool or exercise room," Moore explains. Affordability can be a factor not only in the type of housing, but whether it's new or an existing home. Old houses often have fine woodwork or interesting nooks and crannies not normally found in new homes. They generally sit on landscaped lots with mature trees and grown bushes. New homes may cost more, but you can make more decisions on amenities, colors, carpeting and fixtures. "Make sure you're dealing with a reputable builder, and have an attorney review all documents," Moore says. Selecting a real estate professional is an important first step in beginning your search. "Ask for personal recommendations to fins an individual who is knowledgeable about the neighborhood and has access to the local Multiple Listing Service," Moore says. Make sure you feel confident about his or her knowledge and skills, and understand the agency relationship. Also, look for Realtor membership. These professionals go beyond state licensing requirements, subscribe to a strict Code of Ethics and are committed to continuing education. The Residential Association of Realtors, 4,100 members strong, is one of more than 1,800 local boards and associations of Realtors nationwide that compromise the National Association of Realtors. As the nation's largest trade association, NAR is "The Voice for Real Estate," representing nearly 750,000 members involved in all aspects of the real estate industry.

Q&A with Michael Merrill of Merrill & McGeary, a real estate attorney. Q: I live in a condominium. My neighbor lives in a one-bedroom unit. She keeps a number of pets in her unit, perhaps as many as five cats and a dog. Recently, the common areas have become quite dirty because of the pets; the hall carpet needs constant attention and the hallway is beginning to smell. The condominium allows pets, but given this situation shouldn't the trustees do something? What do you recommend? T.L., Boston, MA A: The condominium documents set forth restrictions on the number of pets that are allowed in a unit. However, even if multiple pets are allowed, your neighbor cannot create a nuisance that is offensive to you or others in the condominium. Sometimes it is clear that there is a problem and other times it may be a matter of degree. Five cats and a dog in a one-bedroom unit appears to be a nuisance and violation of the condominium documents. My advice is to simultaneously take two approaches to the situation. First, notify Inspection Services of the unit and the potential sanitary code violation. Request that the health inspector come to the unit and determine whether the unit owner is in violation of the sanitary code. Also, notify the animal-control officer of the police department and request an inspection to determine whether multiple animals should be allowed in a small unit in a condominium. Finally, the trustees should notify the unit owner in writing that having multiple pets in a unit and causing a nuisance is in violation of the condominium documents. The owner should be requested to voluntarily remove some or all pets within 30 days. Failure by the unit owner to comply can result in fines and/or court action. Michael W. Merrill Q: I am purchasing a house. I know there are a number of tests on property that people obtain prior to purchase. It is not clear to me, however, what they are or what I should do. Tell me please. M.F., Brighton, MA A: After the offer to purchase has been signed by the buyer and seller, the buyer can inspect the house. Generally, this time frame is within five business days. I recommend you retain an experienced and qualified home inspector. Do not rely upon a friend or a person who is doing you a favor. The home inspector will determine the quality of the structure and the mechanical systems as well as provide you with a detailed written report on the components of the house. Based on the results of the inspection you will be fully informed about the house and feel confident with your decision whether to proceed with the purchase or to request a modification of the sale price. In addition, the information provided by the home inspector, you may want to determine through other experts the amount of lead paint in the house and the cost of removal of the lead paint. Generally, lenders will also require evidence that there are no pests, such as termites. Finally, many buyers will place a radon testing device in the basement to determine whether there are hazardous levels of radon. These are some of the concerns that you should resolve prior to signing the purchase-and-sale agreement and paying the deposit. Michael W. Merrill

Seven Simple Steps To Processing A Mortgage By Rick Fedele   "Grueling. Mind-numbing. Brutal." That is how many describe the mortgage process.It doesn't have to be that way. There are really only seven simple steps to processing a mortgage. 1. Pre-qualification 2. Application 3. Opening The File 4. Processing 5. Underwriting 6. Approval 7. Closing Pre-qualification: This occurs before the loan process begins. It is suggested that you pre-qualify as soon as possible in order to determine the maximum loan amount for which you can qualify. In the pre-qualification stage, your loan officer will help you gather information about your monthly income and debts and make recommendations on the most suitable loan program. Loan fees and/or down payments are discussed. After concluding this step, you are issued a "Pre-qualification Certificate," which will aid you and your Realtor in presenting an offer. Application: The application is actually the beginning of the loan process. The required documents are collected and you will receive a Good Faith Estimate (GFE) and a Truth-in-Lending (TIL) statement within three days of signing you application. Both the GFE and TIL itemize associated costs for obtaining the loan and disclose the loan rate. Opening The File: At this point the property appraisal is ordened and credit report is obtained. In addition, an escrow is opened. The loan processor mails out requests for verifications of employment (VOE) and bank deposits (VOD) and any other documents needed for processing the loan. All information supplied by you is reviewed at this time and a list of items not yet received is compiled. Processing: The processor and loan officer will verify your debt and payment histories as the VODs and VOEs are returned. Also reviewed are the credit reports, the appraisal and the property title. If the credit report shows late payments, collections for judgement, etc., a written explanation is required from you. Overall, the loan officers job is to prepare an entire package which will be submitted to the lender for underwriting. Underwriting: The underwriter is responsible for determining whether the package submitted by the loan officer qualifies as an acceptable loan. If more information is needed, the loan is "suspended" and you are contacted by either the loan officer or porcessor to provide additional documentation. When the loan amount exceeds eight percent (80%) of the appraised value, mortgage insurance is usually required. When this is the case, the loan is submitted to a private mortgage guaranty insurer (PMI), who provides extra insurance to the lender in case of default. Approval: The word that everyone wants to hear. When all conditions are met, approval is issued. Title insurance is ordered and a closing date is scheduled for you to sign the loan documents. Closing: At closing, the buyers bring the balance of the down payment an necessary closing costs to the escrow company. The lender funds the loan in exchange for the title to the property. This is the point at which you finish the loan processes and actually buy the house. Congratulations, your escrow is closed. You are a Homeowner! Richard Fedele is President of Summit Funding, a Boston-based mortgage company with offices at 376 Boylston ST. Summit is an affiliate of Pacific Guarantee Mortgage Company (PGM), based in Greenbrae, California. PGM is the largest mortgage broker in the United States with a full line of loans and an annual volume of in excess of $1.8 billion. PGM has more than 40 offices and 135 loan originators throughout the country, and brokers its loans to a network of more than 200 nationwide lenders. For additional information, please call 617/859-0900.