What do those acronyms mean?
Are you in the process of evaluating Massachusetts new homes due to a corporate relocation? You will quickly encounter a host of unfamiliar acronyms. Use these quick tips to regain control of real estate jargon.
AP = Appraised Value. In relocation terms this will be the price of the home offered to the seller by the third-party relocation company.
BPA = Brokers Price Analysis; an official sounding term for an opinion. The BPA is simply the broker’s opinion of the final net price of the property and is independent of third party appraisals before the property is actually acquired.
BMA = Brokers Market Analysis; another official sounding term for an opinion. The BMA is simply the broker’s opinion of the final net price of the property after the property has been acquired.
DOM = Days on Market. The longer a home has been on the market the more negotiable and motivated sellers might be.
DHSC = Direct Home Selling Costs. This covers the actual carrying and closing costs, PITI, utilities, insurance and other expenses related to selling a home.
R & I = Repair and Improvement Costs.
Whether you are relocating to across the state (or the nation) be sure to evaluate the impact on your financial future. Compare the total cost of living including mortgage when evaluating Massachusetts new homes or existing property for sale in Massachusetts. If you are relocating from a smaller area, then Boston real estate might give you a case of sticker shock. Take time to evaluate commute time, equity and the full benefit package before making your final decision.
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Do You Belong in Boston?
Thinking of purchasing Boston condos or Cape Code real estate? Find out if you belong in Boston by taking our fun "Your Might Belong in Boston If...." quiz.
You might belong in Boston if...
1. Your three-year-old car has never been past 3rd gear or above 40 miles an hour due to traffic.
2. When traveling you forget to look for oncoming traffic because you are only used to driving on one-way streets.
3. When you hear the words "Central Artery" you don't think of the Vena Cava.
4. The terms "Buckner", "bubbler", "Big Dig" and "Beanpot" mean something to you.
5. When you hear the letter "R" pronounced you wonder what part of the country they are from.
6. You begin every phone call by dialing the area code whether you need to or not.
7. You consider tonic an actual drink rather than a mixer.
8. "Bang left" is considered a good driving direction.
9. You think three days above 80 degrees is a "heat wave" and enjoy visiting the beach in Florida when the water is only 60 degrees.
10. If drivers don't know what road they’re on they probably don't belong there anyway.
11. You think the spring season only lasts two weeks because the rest is taken up by winter.
12. Recreation and entertainment consists of two things: Sox and Pats.
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What are they saying and what do they mean?
Ahh, what could be more charming than traditional Cape Cod real estate or more convenient than Boston condos? If you are in the market for Massachusetts real estate then sooner or later you will encounter that Boston lingo. Here to help decipher is our fun guide to Boston real estate lingo.
Term or Phrase: A wicked good deal on a Boston property. What you are thinking: Huh? What they mean: Better buy it fast because it won't last.
Term or Phrase: Commonwealth. What you are thinking: Help – I'm trying to get to Massachusetts! What they mean: Officially Massachusetts is a commonwealth, not a state, but you have arrived just the same.
Term or Phrase: Labor Day Weekend What you are thinking: A national holiday. What they mean: The mass exodus of half the population of Boston as the college students leave.
Term or Phrase: "Bahn" What you are thinking: Huh? What they mean: An attached garage roughly the size of a normal home.
Term or Phrase: The Cape. What you are thinking: Where? What they mean: Cape Cod – not to be confused with the other Massachusetts cape...Ann.
Term or Phrase: Eastie. What you are thinking: Where? What they mean: The downtown area of Boston across from the harbor.
Term or Phrase: Mecca. What you are thinking: Can't someone give clear directions? What they mean: Massachusetts General Hospital.
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What style home is right for me?
Whether you are interested in purchasing Massachusetts new homes or pre-existing Massachusetts homes for sale, there is sure to be something to please every personality. Learn how to pick the perfect house for your lifestyle with our quick tips on buying Massachusetts real estate.
Boston Brownstone. A traditional Bostonian structure sheathed in brown sandstone. Although to outsiders a Brownstone might superficially resemble a town house, or row house, the discerning Bostonian will quickly correct the error of your ways. Perhaps one of the most iconic images associated with Boston, the Brownstone is the perfect choice for the tried and true Bostonian.
Row House. Yes, it looks a lot like a town house but row houses are known for their consistency, utility and function making it the perfect choice for those of a more practical nature.
Cape Cod. The classic Cape Cod is typically a one and a half story home with gable roof, large chimney and steep roof. Few things say "family" better than a classic Cape Cod style home.
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What should I know about Boston?
Before moving to Boston it is a good idea to check out the prices of Boston real estate and spend a little time becoming familiar with the city itself.
Cost of Living. For those of you relocating from Los Angeles, San Francisco, New York City or Washington D.C., the cost of living in Boston will come as no surprise—it may even be a delight. For the rest of the nation, be prepared for a little sticker shock primarily due to the cost of housing.
Boston Real Estate. The average cost for Boston condos is $680,000 with single family homes running a respected $485,000 although the variation between prices is often dramatic. It is possible to purchase an affordable home beginning at $60,000 outside of Boston proper while prestigious properties routinely sell in excess of $1 million.
Employment. Boston has a generally healthy and stable economy with a strong focus on financial, health care and higher education.
Education. Boasting more than sixty colleges and universities in the surrounding area, Boston could possibly be one of the "brainiest" cities in the nation.
Entertainment. From the Boston Marathon to Boston Pops, this city lacks nothing in terms of fun, culture and nightlife. The beautiful setting, ambiance and history of the city make it a perpetual favorite.
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What is there to know about Mass?
Take time to learn more about the fascinating history and fun facts surrounding the state of Massachusetts while visiting prospective Massachusetts real estate of interest. Here to help is our fun, fact filled quiz: "Mad About Massachusetts."
Q. What popular cookie was named after a famous town in Massachusetts? A. The ever tasty "Fig Newton".
Q. A certain house located in Rockport, Massachusetts is famous for its construction method. It is made entirely out of...? A. Newspaper.
Q. The official dessert for the commonwealth of Massachusetts is the...? A. Boston creme pie.
Q. What four different United States Presidents were born in Norfolk County? A. John Adams, John Quincy Adams, John Fitzgerald Kennedy and George Herbert Walker Bush.
Q. What is the state’s nickname? A. The Bay State or the Old Bay State.
Q. What is the most famous vegetable in Massachusetts? A. Boston Baked beans of course!
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