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CITY

Select a City: No Preference Abington Acton Acushnet Adams Agawam Alford Amesbury Amherst Andover Aquinnah Arlington Ashburnham Ashby Ashfield Ashland Athol Attleboro Auburn Avon Ayer Barnstable Barre Becket Bedford Belchertown Bellingham Belmont Berkley Berlin Bernardston Beverly Billerica Blackstone Blandford Bolton Boston Bourne Boxborough Boxford Boylston Braintree Brewster Bridgewater Brimfield Brockton Brookfield Brookline Buckland Burlington Cambridge Canton Carlisle Carver Charlemont Charlton Chatham Chelmsford Chelsea Cheshire Chester Chesterfield Chicopee Chilmark Clarksburg Clinton Cohasset Colrain Concord Conway Cummington Dalton Danvers Dartmouth Dedham Deerfield Dennis Devens Dighton Douglas Dover Dracut Dudley Dunstable Duxbury East Bridgewater East Brookfield East Longmeadow Eastham Easthampton Easton Edgartown Egremont Erving Essex Everett Fairhaven Fall River Falmouth Fitchburg Florida Foxboro Framingham Franklin Freetown Gardner Georgetown Gill Gloucester Goshen Gosnold Grafton Granby Granville Great Barrington Greenfield Groton Groveland Hadley Halifax Hamilton Hampden Hancock Hanover Hanson Hardwick Harvard Harwich Hatfield Haverhill Hawley Heath Hingham Hinsdale Holbrook Holden Holland Holliston Holyoke Hopedale Hopkinton Hubbardston Hudson Hull Huntington Ipswich Kingston Lakeville Lancaster Lanesborough Lawrence Lee Leicester Lenox Leominster Leverett Lexington Leyden Lincoln Littleton Longmeadow Lowell Ludlow Lunenburg Lynn Lynnfield Malden Manchester Mansfield Marblehead Marion Marlborough Marshfield Mashpee Mattapoisett Maynard Medfield Medford Medway Melrose Mendon Merrimac Methuen Middleboro Middlefield Middleton Milford Millbury Millis Millville Milton Monroe Monson Montague Monterey Montgomery Mount Washington Nahant Nantucket Natick Needham New Ashford New Bedford New Braintree New Marlboro New Salem Newbury Newburyport Newton Norfolk North Adams North Andover North Attleboro North Brookfield North Reading Northampton Northborough Northbridge Northfield Norton Norwell Norwood Oak Bluffs Oakham Orange Orleans Other Otis Out Of Town Oxford Palmer Paxton Peabody Pelham Pembroke Pepperell Peru Petersham Phillipston Pittsfield Plainfield Plainville Plymouth Plympton Princeton Provincetown Quincy Randolph Raynham Reading Rehoboth Revere Richmond Rochester Rockland Rockport Rowe Rowley Royalston Russell Rutland Salem Salisbury Sandisfield Sandwich Saugus Savoy Scituate Seekonk Sharon Sheffield Shelburne Sherborn Shirley Shrewsbury Shutesbury Somerset Somerville South Hadley Southampton Southborough Southbridge Southwick Spencer Springfield Sterling Stockbridge Stoneham Stoughton Stow Sturbridge Sudbury Sunderland Sutton Swampscott Swansea Taunton Templeton Tewksbury Tisbury Tolland Topsfield Townsend Truro Tyngsborough Tyringham Upton Uxbridge Wakefield Wales Walpole Waltham Ware Wareham Warren Warwick Washington Watertown Wayland Webster Wellesley Wellfleet Wendell Wenham West Boylston West Bridgewater West Brookfield West Newbury West Springfield West Stockbridge West Tisbury Westborough Westfield Westford Westhampton Westminster Weston Westport Westwood Weymouth Whately Whitman Wilbraham Williamsburg Williamstown Wilmington Winchendon Winchester Windsor Winthrop Woburn Worcester Worthington Wrentham Yarmouth Choose a property type: All Property Types Single Family Multi-family Land Condominium

What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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AREA

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Choose a property type: All Property Types Single Family Multi-family Land Condominium

What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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SCHOOL

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Choose a property type: All Property Types Single Family Multi-family Land Condominium

What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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ZIP

Enter Zip Code Choose a property type: All Property Types Single Family Multi-family Land Condominium

What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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MLS #

Enter MLS Number: MLS Number: MLS Number: MLS Number:

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MAP

Select a Starting Point: No Preference Abington Acton Acushnet Adams Agawam Amesbury Amherst Andover Arlington Ashburnham Ashby Ashfield Ashland Athol Attleboro Auburn Avon Ayer Barnstable Barre Becket Bedford Belchertown Bellingham Belmont Berkley Berlin Bernardston Beverly Billerica Blackstone Blandford Bolton Boston Bourne Boxborough Boxford Boylston Braintree Brewster Bridgewater Brimfield Brockton Brookfield Brookline Buckland Burlington Cambridge Canton Carlisle Carver Charlemont Charlton Chatham Chelmsford Chelsea Cheshire Chester Chesterfield Chicopee Chilmark Clarksburg Clinton Cohasset Colrain Concord Conway Cummington Dalton Danvers Dartmouth Dedham Deerfield Dennis Devens Dighton Douglas Dover Dracut Dudley Dunstable Duxbury East Bridgewater East Brookfield East Longmeadow Eastham Easthampton Easton Edgartown Egremont Erving Essex Everett Fairhaven Fall River Falmouth Fitchburg Florida Foxboro Framingham Franklin Freetown Gardner Georgetown Gill Gloucester Goshen Gosnold Grafton Granby Granville Great Barrington Greenfield Groton Groveland Hadley Halifax Hamilton Hampden Hancock Hanover Hanson Hardwick Harvard Harwich Hatfield Haverhill Hawley Heath Hingham Hinsdale Holbrook Holden Holland Holliston Holyoke Hopedale Hopkinton Hubbardston Hudson Hull Huntington Ipswich Kingston Lakeville Lancaster Lanesborough Lawrence Lee Leicester Lenox Leominster Leverett Lexington Leyden Lincoln Littleton Longmeadow Lowell Ludlow Lunenburg Lynn Lynnfield Malden Manchester Mansfield Marblehead Marion Marlborough Marshfield Mashpee Mattapoisett Maynard Medfield Medford Medway Melrose Mendon Merrimac Methuen Middleboro Middlefield Middleton Milford Millbury Millis Millville Milton Monroe Monson Montague Monterey Montgomery Nahant Nantucket Natick Needham New Bedford New Braintree New Salem Newbury Newburyport Newton Norfolk North Adams North Andover North Attleboro North Brookfield North Reading Northampton Northborough Northbridge Northfield Norton Norwell Norwood Oak Bluffs Oakham Orange Orleans Other Otis Oxford Palmer Paxton Peabody Pelham Pembroke Pepperell Peru Petersham Phillipston Pittsfield Plainfield Plainville Plymouth Plympton Princeton Provincetown Quincy Randolph Raynham Reading Rehoboth Revere Rochester Rockland Rockport Rowe Rowley Royalston Russell Rutland Salem Salisbury Sandisfield Sandwich Saugus Savoy Scituate Seekonk Sharon Sheffield Shelburne Sherborn Shirley Shrewsbury Shutesbury Somerset Somerville South Hadley Southampton Southborough Southbridge Southwick Spencer Springfield Sterling Stockbridge Stoneham Stoughton Stow Sturbridge Sudbury Sunderland Sutton Swampscott Swansea Taunton Templeton Tewksbury Tisbury Tolland Topsfield Townsend Truro Tyngsborough Tyringham Upton Uxbridge Wakefield Wales Walpole Waltham Ware Wareham Warren Warwick Washington Watertown Wayland Webster Wellesley Wellfleet Wendell Wenham West Boylston West Bridgewater West Brookfield West Newbury West Springfield West Stockbridge West Tisbury Westborough Westfield Westford Westhampton Westminster Weston Westport Westwood Weymouth Whately Whitman Wilbraham Williamsburg Williamstown Wilmington Winchendon Winchester Windsor Winthrop Woburn Worcester Worthington Wrentham Yarmouth Choose a property type: All Property Types Single Family Multi-family Land Condominium

What is your price range? No Minimum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000 No Maximum $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 $250,000 $275,000 $300,000 $325,000 $350,000 $375,000 $400,000 $425,000 $450,000 $475,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 $2,000,000 $2,250,000 $2,500,000 $2,750,000 $3,000,000 $3,250,000 $3,500,000 $3,750,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000 $6,500,000 $7,000,000 $7,500,000 $8,000,000 $8,500,000 $9,000,000 $9,500,000 $10,000,000

Number of rooms required? Beds 1 2 3 4 5 6 7 8+ Baths 1 2 3 4 5 6 7 8+

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The Impact of Fannie Maes Condo Guidelines

I had not realized the impact of Fannie Maes new condo guidelines until last week. I had been taking out a couple who were both doctors and their 10 month old baby. They were looking for a townhouse in the Newton/ Brookline area. The couple had a letter of preapproval. They found a townhouse that was in a cluster of six. I added a contingency to the Offer to Purchase stating that if an entity owned more than one unit, than the buyers could void the Offer to Purchase if they found it caused a problem obtaining a mortgage.

I am so happy I put in that contingency clause. Countless mortgage companies refused to give them a mortgage for that reason. Anyone who sold their mortgage to Fannie Mae refused them a mortgage. The mortgage broker I always deal with could not believe the problem he was having . He would call and say he had a mortgage for them at market rate. The next day he would call and say the lender had reneged. One investor offered them a 5 year arm that was much higher than the market rate. They had another offer for a 5 year arm with points that was at the same as a fixed rate. They were given jumbo rate prices with points to get a mortgage from investors.

I am once again printing

•   No more than 10% can be owned by a single entity.
•   No more than 20% of the project can consist of non-residential space.
•   The homeowners association must have at least 10% of its budgeted income designated for
•      replacement reserves and adequate funds budgeted for the insurance deductible.
•   A requirement that borrowers must obtain a condo-owners insurance policy unless the masters
•      policy provides interior unit coverage; coverage may be not less than 20% of the assessed
•      value.
•   Fidelity insurance will be required for condos with 20 or more units, ensuring that homeowner
•      association funds are protected.
•   No more than 15% of the total units can be more than 30 days delinquent on condo dues.
•   For new construction and newly converted condo developments, 70% of the units must be
       presold (closed or under contract)

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