Posted by Marie Presti on 5/23/2017

 

 A friend of mine is flying the coop.


She is packing up her large house, counting the days until she and her husband move into a city condo. She dreams of meandering along, hand-in-hand, strolling to the theater and eating alfresco under the stars. All this, and no parking tickets! But after dropping another book triumphantly into a carton, her daughter screamed, “Stop it! I can't take it anymore!” Talk about ruining the moment.

 My friend had talked to her only child about moving far in advance. The high school senior is graduating from high school soon and was nonchalant at first. However, the reality of overflowing boxes and empty shelves set in, and the girl’s negativity reared its ugly head. This was something my friend hadn’t planned on. Fortunately, the daughter has come to terms with the move, but it’s traumatic nevertheless.  Imagine growing up in the only house you’ve ever known, only to be ousted right after you finish high school?  Won’t she miss her own bed when she comes home on break? As high school seniors prepare for graduation, the empty nest looms – for some parents. For others, maintenance-free living in smaller quarters dances in some parents’ heads like sugar plums. In fact, according to stageoflife.com, 36 percent of baby boomers will move out of their homes when becoming empty nesters. 

So before you start packing away the china, here are some things to consider:

Stress levels: If you are reeling because your only (or last) child is leaving the nest for college, have a very ill relative or are anticipating other difficult situation, wait. According to the Holmes Rahe stress scale, “a change in living conditions” ranks 30 out of 43 of life's most stressful events. The scale also shows that having a child leaving home is even more stressful (than moving), on the same scale. 

The importance of the house: How attached is your child? How does he or she feel about not returning to their childhood home? Arthur Kovacs, a San Diego-based psychologist, says caution is best when making a move, and be sure to talk about it with the kids. If parents move out of the family home, particularly while a child is away at college, it can be especially traumatic. “Young people don’t feel important. They feel like their life can be wiped away.”  On the other hand, if you have moved several times, your child may not be as attached to the home and moving will be much easier.

The relationship:  Some kids come home often. Some don’t. If you are close to your kid(s), consider that they will want to visit and stay overnight.  If you have more than one adult child, can they share a room?  Will he/she bring friends? During the holidays this will be a consideration. Many parents, no matter how young their kids are, dream of grandchildren. Will you have room for everyone? What if your kid(s) want to move back home? According to recent figures from Pew Research, 32percent of adults ages 18-34 live at home with their parents. What if they lose their job? Do you want to provide a safety net? 

Can you make money moving?:  That penthouse in the city sounds amazing. But if you are going to go into debt to move, it doesn’t make sense. On the other hand, if you get a good deal on a new condo in a  surrounding community, and can make a profit, it's a no brainer. Or, if moving saves you a bundle on property taxes. If your house is paid off, and you can pay cash for a new place, dismantling the nest is probably an easy decision.  

Bridging the Gap: Being able to move to a new home, before you put your existing one on the market, is the best case scenario if you can afford it.This enables you to move out gradually, clearing out clutter, a few boxes at a time. On the downside, carrying two mortgages is no picnic. For some people, a HELOC makes sense, so they can put a down payment on their new place. Retired homeowners might want to look into taking out a reverse mortgage. This can be used for the purchase of the new home. Once the current home is sold, the proceeds from that sale can be used to pay it back.

The cost of staying put:  Doing a simple exercise will help you evaluate whether or not you keep the nest intact. Calculate the cost of your empty room. Do this by dividing your total home expenses by the total sq. ft. of the house. Multiply that by the sq. ft. of the empty bedroom(s). That number will tell you how much you are spending to keep that room(s). 

Can you stay another 10-20 years? If you have a bathroom and bedroom on the first floor and have a large family who visits often, it might make sense to stay put. If you end up retrofitting your home to make things easier, think about how it will affect the resale value. I showed a house recently that had a closet in the dining room that stuck out like a sore thumb. If you install things like a stair climber, a walk in tub and grab bars, you won’t get the highest price you can. Many buyers want to move right in, with minimal repairs or renovations. 


 





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Posted by Marie Presti on 2/9/2017


Newton Broker Begins Term As President-Elect Of Greater Boston Association Of Realtors®






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Posted by Marie Presti on 1/23/2017

 
 
 

“A FIRST-TIMER’S GUIDE TO HOME OR CONDO BUYING”

Course will Help Novices in their Quest for HomeOwnership 

NEWTON, Mass., Jan. 20, 2017 – People looking toown real estate, but who are new to the process, can learn how to navigate thecompetitive home buyer’s market by attending “A First-Timer’s Guide to Home orCondo Buying.” The event will be held on two consecutive Tuesdays; Jan. 31 andFeb. 7, from 6:00 p.m. to 9:00 p.m., at Newton North High School. Veteran realestate agent, Marie Presti, is running the two-part course, sponsored by NewtonCommunity Education (NCE). Designed to help attendees learn how to navigate allaspects of home buying, the course will also provide guidance and answer questionsabout finding the right real estate broker, obtaining a mortgage, selecting aneighborhood, as well as rights and responsibilities. Instructor Presti hastaught more than 100 courses through NCE since 2004. She is president of ThePresti Group, in Newton,and president-elect of the Greater Boston Association of Realtors. She will bejoined by Newton resident and attorney David Miller, of the Law Office of DavidA. Miller, PC, in Boston and Justin Tulman, a vice president at FairwayMortgage in Newton. The cost for the two-session course is $66.00 per person;$95.00 per couple.

Click on the link below to learn about our first time homebuyers class that Marie Presti is teaching next week. If you know someone who would benefit please pass this info along. http://www2.newtoncommunityed.org/  or call 617-559-6999.




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Posted by Marie Presti on 1/6/2017

Check out the info on the class that Marie Presti is teaching next week.  http://patch.com/massachusetts/attleboro/becoming-realtor-do-you-have-what-it-takes




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Posted by Marie Presti on 5/8/2015


Forthe fourth time, Marie Presti, Team Leader of The Presti Group, andBroker/Owner of the Newtonoffice of Realty Executives Esteemed Properties, hasbeen named to the Realty Executives New England Dream Team. The Dream Teamrepresents the company’s top 20 realtors in New England,based on their annual sales. There are about 200 Realty Executive agents in New England. Additionally, Presti earned the company’sDiamond Award, also based on commissions received, putting her in the top 5% ofRealty Executives agents.

"It’sno surprise that Marie won these awards: she has consistently been one of ourtop producers,” said Tim Waldron, Regional Director, Realty Executives NewEngland. "Marie’s productivity shows her tremendous commitment to both hercustomers and the industry.”

 

Prestiearnedher MBA from the Olin Graduate School of Business atBabson Collegeand her BAfrom MountHolyokeCollege. She is a Certified Negotiation Specialist and wasnamed one ofBoston's top 10 Real Estate Professionals by Women's BusinessMagazine in 2009. In 2014, she won the Realtor Spirit Award from the GreaterBoston Association of Realtors (GBAR). She is Treasurer of the Greater BostonAssociation of Realtors, Director of the Massachusetts Association of Realtorsand Chair of the Mediation Committee at the state association. She also servesas a Director of the Newton Rotary Club.

 

About Realty ExecutivesEsteemed Properties & The Presti Group: The Presti Groupspecializes in luxury homes, rehabilitations, multi-families and condominiumsin urban, suburban and exurban areas throughout the Greater Boston area. Theteam has expertise in guiding first-time homebuyers through the entire process;helping divorcing or divorced individuals resettle in new homes ; and assistingseniors seeking to downsize. The company is a Newton-based privately ownedfranchise of Realty Executives International. For more information, visit http://www.PrestiRealtyGroup.com

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