Article 1 (Charles Realty 2nd Office Grand Opening for JP 5/98) Article 2 ( FIRE!) Article 3 (Is It Too Late to Buy A Property for June, 1998 Occupancy? ) Article 4 (Q&A with Michael Merrill) Article 5 (Today's Best Tips Before Listing Your Home!)

Charles Realty 2nd Office Grand Opening for JP 5/98   Moving at a blazingly fast pace, the Boston real estate market can be an overwhelming experience to even the most experienced individual buyers and sellers. Now, more than ever, it has become critical for buyers and sellers to seek the services of a real estate company, such as The Charles Realty, to provide them with the knowledge and support necessary to take advantage of the current market. Founded in 1984, The Charles Realty is one of the leading independently owned real estate companies in Boston. Specializing in both sales and rentals, the company has built a reputation for outstanding customer service. With a thorough knowledge of the Boston real estate market, the company has set a standard for the industry in marketing condominiums, townhouses, commercial and investment properties. The Charles Realty has also been featured in The Boston Globe, The New England Real Estate Journal, Boston Homes, The Back Bay Courant and Just Property for significant contributions to the marketing of real estate. Working closely with both buyers and sellers, The Charles Realty is dedicated to making customer satisfaction its number one priority. Because of the company's reputation for serving customer and clients with integrity and dependability, a strong referral base has been built. Due to record sales and a continuing commitment to its customers, The Charles Realty is expanding to a second location in the Back Bay. Annette Given, principal, was pleased to announce the opening of the new office at 275 Newbury Street, and stated that the office was "chosen for its central location in the heart of the shopping district where it is well suited to serving the many loyal clients and customers who have accounted for the company's growth." Both Annette Given and her sales manager, Julie Harrison, have consistently posted record sales, putting them in the top 10 percent of all real estate brokers in Boston. Together with the other brokers at The Charles Realty, they look forward to greeting you at their beautiful new office. The office, located in an elegant townhouse, has been restored to its period charm and features high ceilings, fireplaces with handsomely carved moldings and stained glass windows that create a lovely Back Bay ambiance. "Please stop in and celebrate this exciting opportunity with us," stated Annette Given. Continuing, she stated, "Everyone at The Charles Realty wants to thank all clients and customers who have made our success possible. We look forward to serving you from our 257 Newbury Street office."

Fire! By Richard Mazzarella   Your body shakes from the horrific sight of watching your life's belongings being consumed by flames. Your mind shuts down as the conflagration destroys all you own. One simple thought eeks from the recesses of your own consciousness, "What now?" Few happenings in life are more traumatic than losing all one's possessions in a fire. The emotional distress paralyzes, yet the human spirit inevitably leads us to the task of rebuilding. This is the moment you know why you bought fire insurance. For the nature of insurance is such that is only valued when needed; at the time of a catastrophe. There are a few do's and don'ts. During this time of trauma call your insurance agent and report the loss. In the event of a catastrophic loss, an insurance company will be there within twenty-four hours. Don't immediately hire a Public Adjuster. Don't sign anything. Public Adjusters often descend upon the site of a fire, since their fee ranges from 5-10 % of your loss you should take time to decide if you really need a Public Adjuster. Wait at least forty-eight hours to hire anyone. Be sure to check the Public Adjuster's references. Once you authorize them to represent you, a Public Adjuster's fee could be $5,000, $10,000 or $20,000. Their fee will come out of your settlement. caution is advised when selecting a Public Adjuster. If your fire loss totals $200,000 a Public Adjuster's fee could be as high as $20,000. Depending on the amount of your mortgage obligation you may be left bereft. Therefore it is imperative that you avoid hiring an incompetent Public Adjuster. As with most of life's tragedies, proper planning helps us avoid exponentially multiplying the effects of the disaster. Take the time to inventory your possessions. Take pictures of your furniture, rugs, paintings, stereo equipment, etc. better still, hire a firm to video tape your home and your belongings. Store this record in your safe deposit box. Be sure that your jewelry, silverware, collectibles, firearms and other unique valuables are specifically listed on your insurance policy. By accurately recording the value of your possessions, you will assure that you recover all that you are entitled to. By being able to supply your insurance company with a video record and written inventory, you make it easy for your loss and thus expedites your payment. Forewarned is forearmed. Document that which you own. Store your documentation safely off site, and while emotionally you will be distraught when a fire destroys your home, financially you will be safe.

Is It Too Late to Buy A Property for June, 1998 Occupancy? By Sara Rosenfeld, Sr. Vice President, Co-manager of the Brookline Office of Hunneman & Co. Coldwell Banker (617) 731-2447   If you are reading this article in the month of May and you are still looking for a new place for June 1 occupancy and think your only option is to rent, PLEASE READ THIS ARTICLE! So many of us are busy with work, family, and just enjoying the Spring that we have put off our need to find a new home by June 1, one of the most popular dates to move in the MetroBoston area. If you have been looking in the rental market, I am sure you have been disappointed with the incredible rents! Let alone, just when you think you have found something, it has already been rented by someone else! There is still a nice supply of properties for you to choose from to purchase, but you need to complete a few tasks to assure your ability to move in by June 1. And, if you are still not certain that you want to purchase, please continue your rental search while you are completing the following tasks: 1. Speak to at least three different lending institutions (Banks or Mortgage Companies) to determine how much you can afford, how much of a down payment you will need, and what you need to supply to the lender in order to facilitate a quick closing. Most lenders will suggest a pre-approval process which involves a completed mortgage application with verifications of employment and deposits, 2 years of income tax returns, and a credit report; 2. Speak to a real estate professional. Many people find a good broker by asking friends, co-workers, or family members for a recommendation. You may also consider calling an office and asking to speak with the owner or manager of the office so they could suggest someone in their office who is an expert in the location and type of property you desire. Or you can attend some open houses and speak to the broker running the open house to determine if you feel comfortable with them. Due to your limited time, I suggest getting an appointment with one broker as soon as possible in order to see the current inventory; 3. An important component of your decision is the financial decision regarding your monthly payments. You need to make sure to review a RENT VS. BUY ANALYSIS for any property you are interested in. The real estate professional should be able to supply you with all of the relevant monthly costs and the fair market rental value so you can make the comparison. Many listing brokers already have prepared a sheet with this type of analysis to assist the buyers with their decision making process. Many of the properties you will see are actually more affordable to purchase than to rent! Your timing is critical when it comes to your research and decision making process. You need to proceed quickly, especially with setting up and conducting your home inspection. If you are purchasing a condominium, you also need the time to review the condominium documents and speak to the Trustees or management company about the association. You can accomplish this in less than a week. You will need to proceed with your mortgage application process and make sure the lender requests the appraisal of the property as soon as possible. You will need to request the lender's attorney to start the title search process no later than May 15, which is something the mortgage originator can help you with to assure your June 1 closing. Good luck with your decision and enjoy your new home!

Q&A with Michael Merrill of Merrill & McGeary, a real estate attorney. Q: My mortgage broker told me I don't need my attorney to attend the closing, because the Bank's attorney will be there. If I have questions, that attorney will assist me. What do you think? If I did not have my own attorney at the closing, how much money would I save? L.R. Boston, MA   A: It is true that if your attorney does not attend the closing, your attorneys fees will be lower. However, the answer to this question depends upon your particular needs as a buyer and consumer of legal services. If you are a person who wants the comfort of knowing that there is an experienced professional at your side guiding you through the transaction, then I recommend you have your attorney attend the closing. It is true that the Bank's attorney will be present, but that person's primary job is to represent the Bank's interests. If you have an issue with the Seller or Seller's attorney, the Bank's attorney has no obligation to advocate on your behalf. In fact, most Bank's attorneys will be careful to indicate the Bank is their client and not the Buyer. If you are experienced real estate Buyer and have the confidence in your ability to deal with the Seller and the Bank without an attorney, then you may decide not to have your attorney attend the closing. In that case you might save 1 to 2 hours of legal services and depending upon the hourly rate that savings could range from $150.00 to $400.00. while every dollar out-of -pocket is important, relative to the overall cost of the transaction this amount is not significant. More importantly you will have confidence knowing your interests are protected by your attorney should an issue arise. Michael W. Merrill   Q: I am a Trustee in a condominium. Many of our residents park in a small undeveloped lot of land which abuts the condominium. The owner of the land allows us to park there at no cost. In return the condominium maintains the lot. Each year we cover the lot with crushed stone and plow the snow. This practice has been on-going for eight years. The crushed stone costs approximately $1,800.00 each year. This year we determined it makes sense to pave the lot in order to save the yearly cost of stone. The black top will cost approximately $6,000.00. Would you recommend that we pay this cost even though we do not own the lot and our parking privilege could be terminated at any time? Is there any chance the condominium could be awarded this land on a theory of adverse possession? T.N., South Boston,MA   A: The simple solution is to try to get a commitment from the owner of the lot that the parking will be available to the condominium for the next three to four years. If so, the cost of paving will be less than the cost of crushed stone and the numbers will make sense. I expect, however, the owner of the lot will not commit to any particular time frame because he wants to maintain flexibility. Given that the land has been available for eight years, it seems likely to remain that way for at least one or two years particularly if no development plan is on the table at this time. Of course, there is some risk, and is so, the condominium will have to eat that cost. Don't forget that the cost is shared among a number of unit owners and the savings on the one-hand and the cost on the other hand per owner is not significant relative to the condominium's annual operating budget. Finally, the condominium will not be able to obtain title to the lot by adverse possession. Adverse possession requires open, notorious and hostile use of land for a continuous period of twenty years. In this case the condominium's use of the lot is not hostile, but rather is permissive. Adverse possession does not apply. Michael W. Merrill

Today's Best Tips Before Listing Your Home! By Jay McHugh of RE/Max Affiliates When a homeowner decides to list their property there are many questions that need answers and improvements need addressing before listing and showing the property. Often times a homeowner believes that by improving the property with expensive the property will sell for a greater price up and beyond the cost of the improvements. This unfortunately can work against the homeowner simply because the improvements may actually turn off prospective buyers. Keep in mind the adage: "one man's pleasure is another man's pain," this is often the case in terms of taste in residential real estate. Further, many buyers enjoy adding their taste to home to compliment their lifestyle. Upgrading a home with expensive amenities may also exclude a buyer because of finances. Today, the first item homeowners should recognize before listing their home is what would they expect when viewing potential homes. Certainly, the answer is a well kept home throughout the outside and inside. If this does not happen at first sight most likely the first impression will last throughout the showing. So to attract buyers from a real estate ad or a drive by, owners should recognize that the grounds stay well maintained. Always keep the lawn at correct length consistent with other nearby homes and lush green as to express the energy of the home. Invest your money in flowers to show colors that reflect a warm neighborhood atmosphere. Mulching your immediate area of the home is one inexpensive enhancement and truly cost effective. We find today that buyers are turned away from potential properties because of negative impressions of the home. They believe if the home is not cared for properly then larger problems may lie ahead. Those problems may range from a poor heating system; leaky roof; an undesirable neighborhood; and/or the lack of imagination to remedy the problem. So even if the aforementioned does not exist, convincing a buyer will certainly be difficult. To enhance the outside of a tired looking home Realtors strongly recommend a fresh coat of paint. Choosing a similar color with other area homes will undoubtedly brighten the appearance of the home without damaging taste. Remember, a very odd color of paint may lose a prospective buyer. A fresh coat of paint is an excellent improvement because of the small cost relative to the first impression of the home. Moreover, trimming and cutting back brush and overgrowth will give an appearance of a larger home rather than a smaller, dark home. One should not forget that junk and trash in the yard is not appealing even if it will be removed prior to closing. Make sure that old boards, stones, automobile parts, and the like are removed from the yard to show off the size of the yard and its boundaries. Remember, the less that turns off a buyer has to say "this is not for me" and more emphasis will stay on the positive features. When addressing the inside of a home, I remind sellers to remove anything they do not need currently. For instance, by removing a large piece of furniture in the living room that is only used on holidays will enlarge the perception of the room. Also, keep the kitchen area neat and bright. This is the most important room in the home and this rooms needs to be shown at its best at all times. If there is a tired room certainly a neutral coat of paint will enhance the look of the room. Besides painting, one excellent improvement is to review the home as a buyer would review the home. Objectively record the bothersome problems that would strike you immediately. Without question a dead light bulb will not assist in a showing. Light in a home is an impressive feature and all light fixtures should be properly working. The following are some good examples of improving your home quickly for the listing period: invest in strong watt light bulbs; fix broken door latches; correct unleveled doors; clean outside gutters; professionally service the burner; remove unwanted belongings that do not add to the appearance of the home; and prepare the home so that the aforementioned will not kill a deal. With regard to older homes that may have questions not obvious to the lay person, a home inspection prior to the listing is an excellent idea. By having an inspector check all the mechanical functions of the home, the prospective buyer can relax when viewing the home and concentrate on the features that are most important. There are some good ideas to review when speaking with your REALTOR prior to listing your home. By keeping your home at its best, you are more likely to get your price and in the shortest period.