Greater Boston Real Estate Blog

Mike Delrose

Blog

Displaying blog entries 51-60 of 325

Be Mortgage Ready

by Mike DelRose

When you are in the market to buy a home, one of the first things you are told is to get Pre Qualified for a mortgage.  However, being Pre Qualified is a lot different than being Pre Approved.  Anyone can log onto a web site, plug in numbers for income and monthly expenses and the automated program will spit out a Pre Qualification letter saying you are financially qualified to buy a home.  But none of the information has been verified, especially your credit.  There is a world of difference when you are Pre-Approved.  To receive a Pre-Approval Letter, your credit is checked, income and assets verified and lenders calculate your expense to income ratio to be sure the homes you are considering are within your affordability range.  Basically, once you are Pre Approved, you are mortgage ready.  When you find the property that is “right” for you and if the appraisal comes in at value, there is little that will prevent you from obtaining final approval.  So, as you start your home search, be Mortgage Ready.  Get Pre-Approved, not Pre Qualified.

Boston's Smoke Free Homes

by Mike DelRose Jr.

As I was heading in to the office this morning listening to some sports talk, I heard an ad for a website founded by the Boston Public Health Commision that features information on Smoke Free Homes. With sections fro home owners/landlords, tenants, and REALTORS® alike, there's plent of information on the value of having a smoke free home. 

The site features information and sources on finding smoke free homes, tenant rights and responsibilities, why you want your home to be smoke free, and how to properly make sure your home is moke free.

The site offers a wealth of good information and an important reminder that smoking not only impairs your health, but also value of real property. 

Hire A Home Inspector For New Construction?

by Mike DelRose

Oil Heat Vs. Natural Gas Introduction

by Mike DelRose

Oil Heat Vs. Natural Gas

by Mike DelRose

As the summer comes to an end and we head into fall it is inevitable that the home heating season is not far behind.  We are sure to start hearing from the natural gas distributors on the benefits of gas heat.  Clean, efficient, and without the threat of artificial oil shortages, certainly for many homeowners this is the fuel of choice.  But there is another side of the heating equation and that is oil heat.  To get a perspective of the benefits of oil heat, I recently sat with a good friend and the owner of Munhall Energy Company in Watertown, Bob Manzelli.  Bob’s company has been providing my Family and I with our heating oil for over 50 years from my Father’s home on Webster Street in Watertown to my current home on Selwyn Road in Belmont.  Here are Bob’s thoughts on heating a home. The following is the transcript from our conversation:

 Q.  Bob, your family has been in the home heating business for over 50 years.  Tell us a little bit about your company.  How was it started and how has it developed to where it is today.

 A.  I worked with my dad in his company, Manzelli Oil since 1960.  In 1970, I had the opportunity to buy another small Watertown company, Munhall Fuel from George Munhall.  At a later date, we combined the companies and we’ve continued to grow our business and serve our client under our current name of Munhall Energy Company.  My son Michael is carrying on the business along with our capable office staff and our team of certified technicians and an efficient delivery team.

 Q.  We hear a lot about fuel efficiency.  How efficient is oil heat compared to gas heat and what does it mean to the homeowner who is unfamiliar with efficiency ratings.

 A.  The older oil heating equipment was inefficient.  However, the technology has changed significantly and oil heating burners are actually as efficient and in many cases more efficient than gas systems.  Newer oil heating equipment now operates in excess of 86% efficiency which again is equal to or more efficient than many gas heating systems.

 Q.  The natural gas distributors have done a great job of explaining the unlimited supply of natural gas and the fear of oil shortages.  How concerned should those with oil heat be of these shortages?

A.  There is no question that natural gas is plentiful.  However, the same is true for oil supplies.  It is more a question of distribution.  Keep in mind that as winter arrives, if there is an interruption or break in a gas line, it can affect whole neighborhoods.  We have never had a disruption of oil deliveries, even during the oil crisis of the 1970’s.

Q.  Clean and efficient! We hear it over and over.  Any thought on this?

A.  Our new boilers have been perfected to a degree that they burn as clean and in many cases are more efficient than gas heat.

Q.  From time to time, the gas distributors offer incentives to convert from oil to gas heat and these offers include everything from free heating systems to oil tank removal.   You are in the oil business so you obviously have a vested interest in consumers remaining with oil heat.  What would you say are the advantages to remaining with oil heat?

A.  There are two important points here.  When you convert from oil heat to gas, you need to reline the chimney in most cases.  Additionally, there are conversion costs which include electrical and plumbing expenses.  By the time you are done, the cost of a “free” boiler can cost $5,000 or more.  I would recommend that anyone considering a conversion read the fine print. In some cases it makes sense, but it is not an obvious choice.  Many times it is more cost effective to remain with oil heat with updated equipment at a comparable cost.

Q.  In addition to efficiency, cleanliness, and supply, cost is an important factor when considering the fuel of choice.  Have there been any studies done that give a side by side comparison or is there any other way for a homeowner to compare the cost of gas versus the cost of oil for heating the same home?

A.  Yes.  Today, oil heat is more expensive than gas.  However, comparing cost over the past 10-11 years, oil heat has had a distinct price advantage for 9 of those years.  As markets change and fluctuate, we expect oil to be competitive with other forms of energy including gas heat.

Q.  Bob, do you have any final thoughts on oil heat other than praying for a cold winter?

A.  There are two things that immediately come to my mind.  First are the safety concerns.  Gas is immediately combustible from the time it leaves the ground to the time it enters your home up to The Point of use.  Oil has an extremely good safety record.  Also, in times of emergencies, it is nice to know you have someone you can call.  If you have oil heat, you call your local oil company from your community.  Their response to you is almost immediate.  When there is a gas emergency, you will have to consider how quickly your call will be responded to.


I want to thank Bob for his time in answering my questions and I welcome your comments here.  If you have any questions for Bob, his son Michael or any of his exceptional staff you can reach them at:

 

Munhall Energy Company

40 Summer Street

Watertown, MA 02472

617-924-4000

MunhallFuel@comcast.net

 

 If there are any other topics related to the housing market or real estate in general, please let me know and I will try to address them in a timely manner.

 

Mike DelRose

3.8% Real Estate Tax to Pay For Health Care Reform?

by Mike DelRose Jr.

As the controversial health care reform bill was passed for better or for worse the general public knew funds to pay for the overhaul would have to come from somewhere. In 2013, a new taxes on real estate may effect certain transactions involving investments in the form of a 3.8% real estate tax.

To clarify, the real estate tax is not a transfer tax according to the National Association of REALTORS® so it does not necessarily apply. To quote Robert Freedman, Senior Editor, REALTOR Magazine® in his article, "The 3.8% Tax is Not a Real Estate Transfer Tax"; 

"For individuals earning $200,000 a year or more and married couples earning $250,000 a year or more, certain investment income above these income levels might be subject to the 3.8 percent tax on a portion of that income"


Here's a video and the article so that you can learn more about this tax and how it will affect your real estate interests. 

Take a look at the artile as well as video where NAR Director of Tax Policy, Linda Goold explains the tax and how it can impact you. Nothing in certain in life except death and taxes but it would to understand how and why. 

Discrimintion in the Industry Makes Me Sick

by Mike DelRose Jr.

I arrived home last night to find some very dissapointing news involving discrimination in the real estate community that made me sick to my stomach. You can read the article here from My Fox Boston but I will sum it up as well. 

The situation involved a landlord in Newton who called his local REALTOR® to find tenants for his property. The landlord the specified to the REALTOR® That he didn't want blacks in his house. The actual quote is written in the article. The REALTOR® then reported the situation to the Massachusetts Commision Against Discrimination (MCAD) which found the landlord in violation and fined him $15,000 which he refuses to pay. 

It's sad to me that there even has to be an organization that polices acts of discrimination but clearly it's still a problem. This situation has little to do with a home owner deciding who lives in his/her home, but rather the outspoken predujice in the community that we just can't seem to put behind us. 

 

Low Interest Rates

by Mike DelRose

Monday Morning Coffee & Inspiration: "Keep A Young Mind"

by Mike DelRose

Monday Morning Coffee

INSPIRATION FOR TODAY:

"Learning is the fountain of youth.
No matter how old you are,
You mustn't stop growing."
- Taoist Meditation, Deng Ming-Dao


KEEP A YOUNG MIND!

Don't believe the phrase "You can't teach an old dog new tricks." Creativity isn't only for artists, writers, or musicians. Creativity isn't just what is represented by a canvas or a novel or a song. We can all be creative in our own way, and the most common way that we can all do this is through learning.

As long as we continue to learn and to try new things, we keep our minds fresh and young, and we engage in the act of "creating ourselves" continually. Today's world presents plenty of opportunities for learning, especially about the environment, other cultures, and technology. Technology itself provides ever-easier ways of accessing knowledge through computers and the Internet. And no one is too young or too old to start!

Look around you at the most vital and energetic seniors you know. What do they have in common? A continuing interest in learning and sharing their knowledge and experience with others - so they are engaged constantly in the process. They keep their minds challenged and young, and in so doing, feel younger in body and spirit. They are certainly different than in their youth, but they continue the learning that began there.

Each new phase of our lives brings us new challenges and opportunities for growth. Growing older necessarily means learning new things. We are constantly creating ourselves in this way, and we can adapt ourselves to any situation by that continuing act of creativity that keeps us young.

Real Estate Video Market Update

by Mike DelRose

Displaying blog entries 51-60 of 325

Contact Information

Photo of Mike DelRose Real Estate Team Real Estate
Mike DelRose Real Estate Team
RE/MAX Leading Edge
142 Galen St
Watertown MA 02472
Phone: 617-848-0000
617-923-8355
Fax: 617-926-5166



Reviews
69321
' Mike DelRose has represented my wife Gail and I in the sale of our home and the purchase of a condominium in order to facilitate our process of ... more '
5.0/5.0
by danleclerc
My Cambridge Real Estate Listings on Zillow

Find us on:

    
Find Mike Sr. on LinkedIn | Find Mike Jr. on LinkIn


All franchises are independently owned & operated