Time for a Condo?

Time for a Condo?

Owning a home can be a lot of work especially when you live in Massachusetts! Anyone who lived here during the winter of 2015 remembers the seemingly never-ending snow storm after snow storm! With a foot in some places last week and blizzard warnings for the next two days, here we go again! After the snow is done, there's fixing the roof, repairing the siding, landscaping - there's always something...

First-time buyers at Oak Ridge, Maynard

Condominium living is exactly the right lifestyle for a lot of people. If you are a first time home buyer, you can generally get more living space for the same price as a single-family home, developments tend to be newer, and some offer amenities such as swimming pools, tennis courts, fitness centers.

If you’re just too busy or not interested in working around the house, owning a condo may be for you; the exterior maintenance is taken care of by the homeowner association so you don’t have to be concerned about painting, landscaping, snow plowing, roof replacement, etc. – the benefits of home ownership without the work!

A lot of empty-nesters also like the idea of simplifying and having someone else take care of things. Wouldn’t it be nice to just lock the door and go somewhere warm next winter without having to worry about anything? Sounds perfect if you’re someone who wants easy living; doesn’t mind having close neighbors; is OK with letting other people make decisions for you or is willing to volunteer to be on the Homeowners Association Board. You won’t mind trading some personal freedoms in return for convenience, right?

“There are no exceptions to the rule that everybody likes to be an exception to the rule.” Charles Osgood

Buyers know that condominiums/homeowner associations have rules that govern the community and offers to purchase a condominium should include a contingency that says the offer is subject to satisfactory review/acceptance of all documents… Most HOA (Home Owner association) rules are pretty standard, and your attorney can tell you which ones you can expect to find in most places, however, communities can and do amend the rules over the years so rules can vary. Parking and pets seem to be the biggest issues but there may also be rules holiday decorations, gardening, decks, facility usage; bicycle and baby carriage storage, any selling or rental restrictions – these days many developments will not allow investors … Some associations dictate what vendors you can use to replace the windows – yes, units owners are often responsible for windows, doors; know what you will be responsible for.

"Active Adults" at their detached townhouse in Hudson

The lender will review the budget and send a questionnaire asking about the overall well being of the development – i.e. number of owner occupied units, if there are any pending lawsuits, special assessments; but as the buyer, it is really important for YOU to read the rules. Only you can know if you’ll be comfortable living by the rules that govern the condo development you’ll be sharing; and the best time to do that is before you make an offer. Once you accept the condominium rules (or not) you can move forward and enjoy the lifestyle that’s right for you!

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About the author: Marilyn Messenger, a licensed real estate broker, Certified Residential Specialist (CRS) and an Accredited Buyer Representative (ABR) associated with Andrew Mitchell in Concord, has sold dozens of condominiums and townhouses (new and resale units) in Sudbury, Wayland, Maynard, Concord, and the towns west of Boston since 1993. As a condominium/townhouse owner and former Board of Trustees Member of a 155 unit complex, she knows how first-hand about buying and selling condominiums and about condo living. Ask Marilyn at 508-596-3501 or marilynmessenger@realtor.com. Search for homes at www.MarilynMessenger.com 

Single-family condo at 9 Ingham Lane Concord - Sold for $895,100

Under Contract - Deer Hedge Run Townhouse Maynard

   

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Permits Save Time, Money, and Stress!

Happy New Year! You may have read my recent RealtyTimes post

"Pay Now or Pay Later..." about my New Year's Day water heater melt-down and how much more it costs to fix/replace appliances and systems after they break than it does to be proactive do things before you have to.

After the water was cleaned up and the new water-heater was installed, I realized that another issue with doing this without planning ahead is that the the contractor most likely did not have time to apply for a permit which is required whenever a gas appliance is installed, even when it is a replacement. So I called the contractor and was told "oh, we were going to do that." I'm not totally convinced that they really were but in any case I am waiting to hear from the plumbing inspector to schedule a time when he can check it out and issue the permit.

Having had this experience personally, it seemed like a good time to re-publish the post I wrote for RealtyTimes last Spring:

Whether you're doing some renovating or adding an addition or deck, replacing appliances or systems, make sure the contractor pulls a permit and that the inspector from the town signs off after the work is done. It's very easy to find out if one is needed; towns have the information about permits on their web sites or you can call the building inspector. Most people don't think about it. They assume that their contractor will take care of everything and especially because most include the cost of a permit in their quote.

Unfortunately, contractors often do not follow through with applying for the permit(s) and scheduling the inspection after. Whether it's a lack of time, or someone just forgets to do their job, the bottom line is that permits are important for your protection, protection of the town, and the protection of future owners. 

When you sell your house, if a home inspector sees a problem and there is no permit on file, even though it's not your fault, it raises suspicion that will ultimately cost you; buyers will question what else is wrong or missing and start looking for reasons to reduce the price! This has happened to many of my clients who paid top dollar to reputable contractors who never followed through on the permit.

Advice to homeowners and sellers: ask the contractor when the inspector from the town will be coming by to sign off on the work done. If they can't answer, make sure you follow up with the contractor. Or, you can call the inspector yourself then you know it will be done. It will save you money and stress. Enjoy your new home improvements!

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About the author: Marilyn Messenger, CRS has been representing buyers and sellers west of Boston for 23 years. Having attended 100s of home inspections, she knows first-hand how important building permits are to the home buying and selling process. You can reach Marilyn at 508-596-3501 or visit www.MarilynMessenger.com for
buyer and seller information, free home searches, and market conditions reports for Wayland, Sudbury, and the towns west of Boston.

Home Improvements - Permits Save You Money and Stress!

Summer is home improvement time. Whether you're doing some renovating or adding an addition or deck, make sure the contractor pulls a permit and that the inspector from the town signs off after the work is done. It's very easy to find out if one is needed; towns have the information about permits on their web sites or you can call the building inspector. Most people don't think about it. They assume that their contractor will take care of everything and especially because most include the cost of a permit in their quote.

Unfortunately, contractors often do not follow through with applying for the permit(s) and scheduling the inspection after. Whether it's a lack of time, or someone just forgets to do their job, the bottom line is that permits are important for your protection, protection of the town, and the protection of future owners.

When you sell your house, if a home inspector sees a problem and there is no permit on file, even though it's not your fault, it raises suspicion that will ultimately cost you; buyers will question what else is wrong or missing and start looking for reasons to reduce the price! This has happened to many of my clients who paid top dollar to reputable contractors who never followed through on the permit.

Advice to homeowners and sellers: ask the contractor when the inspector from the town will be coming by to sign off on the work done. If they can't answer, make sure you follow up with the contractor. Or, you can call the inspector yourself then you know it will be done. It will save you money and stress. Enjoy your new home improvements!

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About the author: Marilyn Messenger, CRS has been representing buyers and sellers west of Boston for 20 years. Having attended 100s of home inspections, she knows first-hand how important building permits are to the home buying and selling process. You can reach Marilyn at 508-596-3501 or visit www.MarilynMessenger.com for buyer and seller information, free home searches, and market conditions reports for Wayland, Sudbury, and the towns west of Boston.

Real Estate - Gridlock and Bridges

As someone who relates just about everything to real estate, reading the headlines about the gridlock that happened on GW Bridge last fall got me thinking about how many people are "gridlocked" out of the current housing market and how they need a bridge!

As the media continues to report about higher housing prices and bidding wars, they sometimes neglect to mention how few houses there are for sale. You can see the latest market updates for Concord, Wayland, Sudbury, Maynard, and Stow at www.marilynmessenger.com.

Why is inventory so low? It easy to blame the weather, but we always have winter in MA, so why else? More money: people think if they wait they'll sell for more money. While that may be true, they will also pay more when they buy their next home, and if interest rates go up they will end up with less money in the end.  

Another reason is "gridlock." Most homeowners who would like to move need to sell their current home before they can buy another place to live. Because there are so few houses for sale they are afraid and that if they sell they may not have anywhere to go. So they wait for more houses to come on the market; with so many people waiting, we up end with gridlock.  

A bridge loan might be the solution to get people moving because it enables them to buy a new home without having to sell first! 

   

Here is a flyer from one of my loan officer friends with an example of how a bridge loan would work. If you think it might fit your needs, check it out. Call all me anytime at 508-596-3501 to learn more about the home buying and selling process or click here to request a home valuation report. 

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About the author: Marilyn Messenger has been selling real estate in Wayland, Sudbury, Concord, Maynard, Stow and the towns west of Boston for the past 20 years. As a Certified Residential Specialist and Accredited Buyer Representative/Agent, she has a proven track record of providing efficient and cost effective solutions to help her clients save money, time, and stress during the home buying and selling process. Visit www.marilynmessenger.com or call 508-596-3501 to talk about planning your next move.

Home Selling: What Kind of Showing Was It?

One of the most frequent calls from homeowners to their agents is about the listing’s inactivity due to the lack of showings. The homeowner commonly believes that the home is shown only when a buyer walks through the house with an agent.

Today’s buyers are more sophisticated than in the past due to the abundance of information available to the public on the Internet.  There are seemingly inexhaustible sites with homes for sale, valuation estimates and virtual tours.  There are extensive mapping sites with satellite images, traffic conditions, entertainment, shopping and other points of interest.

There are actually three legitimate types of property showings.  A knowledgeable buyer can view a home for sale online and make a reasonable determination of whether the home will fit their needs. Occasionally, buyers will drive by a home to get a feel for the home and also the neighborhood which might cause them to eliminate any further examination or consideration.

The third type, the physical showing, certainly gives the buyer the opportunity for the closest scrutiny but is generally reserved for properties that have passed the inspections of at least one other type of showing.
Sellers should be aware of the different types of showings and that a sales agent’s job is to help the buyer find the right home. The listing agent’s job is to market the home so that the right buyer finds it either through their own efforts or that of the buyer’s agent.

Communication is crucial to the success of the selling process. Real estate agents need to know what's going on with their listings and let their seller clients know what's going on in order for them to make the right decisions moving forward. If a property is getting lots of activity on line but few or none are resulting in visits to the house it means there is a disconnect between what the buyers expect to see for the price and what the photos and description show compared with other properties.

As a listing agent, I always provide to my clients. For online views I subscribe to updated service on Realtor.com, Trulia, etc. and can share the number of times the listing showed up in a search as well as the number of times someone clicked on the listing for details. For live showings, I personally follow up with each agent and share the feedback with my sellers.
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Like every industry, real estate has changed. Please contact me if you want to talk about how people buy houses in today's world. Visit www.marilynmessenger.com to see houses for sales, view market reports for Concord, Sudbury, Wayland, Maynard, and Stow; request a home valuation, and more.

Winter Maintenance

With a 2,000+ mile long winter storm affecting much of the country, there are plenty of home owners who wish they were better prepared.  Even when you live in warm climates, some of these things are important to check periodically.

Preparing for the change of seasons can make your home more comfortable and protect your investment.  Regular maintenance extends the various components of a home and can generate savings in operating costs while avoiding expensive replacements.

• Weather strips around doors and windows should be checked for possible air leaks.
• Caulking around windows and doors should seal out moisture and air leaks.
• HVAC should be inspected and serviced by a professional annually.
• Smoke and carbon monoxide detectors should be tested regularly.
• Duct work and supply lines from water heaters should be insulated.
• Fireplace chimneys should be cleaned regularly and fireplaces should be inspected for cracks in mortar and to see if the damper closes properly.
• Gutters should be free of leaves and debris to prevent rainwater build-up.
• Tree branches touching or hanging over your roof should be trimmed.

Please contact us if you need a service provider recommendation.
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Request a home valuation report - Wayland, Sudbury, Maynard, Stow, Lincoln, Hudson, Acton, west of Boston

"Fiscal Cliff" Real Estate Extenders

"Fiscal Cliff" legislation passed. Here are some of the details that effect real estate (from the National Association of Realtors website). Good news for most homeowners, especially people who are in need of a short sale or are going to end up in foreclosure, and people who are planning to buy a home.

Real Estate Tax Extenders:

• Mortgage Cancellation Relief is extended for one year to Jan. 1, 2014
• Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and made retroactive to cover 2012
• 15-year straight-line cost recovery for qualified leasehold improvements on commercial properties is extended through 2013 and made retroactive to cover 2012
• 10 percent tax credit (up to $500) for homeowners for energy improvements to existing homes is extended through 2013 and made retroactive to cover 2012.

Click here to see more details and please contact me if you have questions about home buying or selling.

Connect with Marilyn's real estate profile on Google+

Housing Trends eNewsletter & Local Reports Wayland, Sudbury, Maynard, Stow and Acton MA

Here is the link to the latest Housing Trends eNewsletter which includes articles for homeowners, buyers, sellers, and renters along with, Massachusetts and national real estate sales and price activity provided by MLSs and the National Association of Realtors, U.S. Census Bureau key market indicators, housing market video reports, blogs, real estate glossary, maps, mortgage rates and calculators, community reports that map shopping, schools, recreation and more. 

All real estate is local so I have also included my own market reports for Wayland, Sudbury, Maynard, Stow and Acton. Let me know if you need information about other towns or specific properties.

Sudbury (MA) Real Estate - Happy Buyers & Sellers in May!

Lots of happy home buyers in Sudbury this month! Whether it was low interest rates, lower prices, pent-up demand from lack of inventory, or people realizing that there may never be a better time to buy, people who want to live in Sudbury stepped up and decided to make offers that sellers were willing to accept. After a challenging winter, homeowners who wanted to sell were finally able to put their houses on the market and inventory levels are close to what they were last year at this time; of the 151 homes currently listed for sale, 40 came on the market during May. Thirty-one of the 151 properties have accepted offers and are being shown for back-up waiting for contingencies to clear. There are also 22 sales pending.


List prices for active/unsold listings range from $174,900 to $2,795,000. The median list price is 799,450 and the average is $915,477. The median list price at this time last year was $869,000 and the average was $1,013,727. There have been 34 price adjustments on 31 properties so far in May.

So far, there have been 12 closed sales in May and 2 more are anticipated to close by month’s end bringing the total number of closed sales to 14 compared to eight last May. The median sale price for the 12 that have closed in May is 645,000; the average is $716,433; will see how much that last 2 sales affect these prices. There were 8 closed sales during May of 2010; the median sale price was$695,500; the average was $798,500.

Check out http://www.marilynmessenger.com/ to find what’s available in Sudbury; get daily MLS updates; and the latest news and information about real estate market conditions in Sudbury, Wayland, Weston, Maynard and Stow MA. Seach for homes on Facebook at www.facebook.com/livingwestofBoston.

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