Condo Living - Are Your Ready?

Under Contact! End-Unit at Deer Hedge Run  - 3 Level Townhouse.
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A condominium is a shared form of property ownership that includes 1) a divided interest - the inside of an apartment, townhouse, part of a duplex, a unit in a mult-family, or detached home; 2) an undivided interest, i.e. roofs, exterior siding, recreational facilities, elevators, etc.; 3) and there can also be exclusive use areas, i.e. parking spaces, decks, balconies, garden areas.

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 are just too busy or not interested in working around the house, owning a condominium is a good option for you. Exterior maintenance is taken care of by the homeowner association so you don't have to be concerned about exterior painting, landscaping, snow plowing, roof replacement, etc. - the benefits of home ownership without a lot of the work!

SOLD - New Construction at The Regency in Stow
Attached and Detached Townhouses for Adults 55+

A lot of empty-nesters are ready for a change and have someone else take care of things, especially during the winter months! Wouldn't it be nice to just lock the door and go somewhere warm next winter without having to worry about who's going to shovel?

There are a variety condominium options for people over 55+/active seniors in Sudbury, Concord, Wayland, Hudson, Acton, and many of the nearby towns including resales and  new construction. Click here to see condominiums for sale.

Condo living is a great lifestyle if you're someone who wants easy living; doesn't mind having close neighbors; is OK with letting other people make decisions, or is willing to volunteer to be on the Homeowners Association Board of Trustees (HOA), and won't mind trading some personal freedoms in return for convenience.

Buyers know that condominiums/homeowner associations have rules that govern the community. Any offer 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 and pools seem to be the biggest issues but there may also be rules about holiday decorations, gardening, decks, facility usage; bicycle and baby carriage storage, rental restrictions - some communities do not allow any rentals. Some associations restrict what vendors you can use to replace the windows and doors... Yes, units owners are often responsible for windows, doors; know what you will be responsible for.

Your 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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It has been a pleasure representing condominium (including new construction) sellers and buyers in Sudbury and the nearby towns west of Boston for 25+years. If you are planning to buy or sell a condominium, I would be happy to help you. Call 508-596-3501.

Here are some of the condominiums my clients have bought and sold in the towns west of Boston:

 

Audubon Hill, Acton  - 55+

Oak Ridge Maynard

Ingham Lane West Concord

WestRidge Hudson

Springhouse Pond Sudbury

   

Deer Hedge Run Maynard

Regency at Stow

10 Questions to Find Out if You're Qualified to Sell Your House

Most people think that being qualified is for home buyers and that it means being pre-approved for a mortgage. Being qualified is not just for buyers, sellers also need to be qualified!

Sure, anyone who owns a property can sell it (assuming there are
no legal restrictions) but owning a property does not make for a “qualified” seller. In real estate, the definition of qualified is “ready, willing, and able.” Buyers and sellers both need to be ready, willing, and able; that means financially, logistically and emotionally.
Here are some questions to answer to determine if you are qualified to sell:

1.   Do you have enough equity in your house to cover closing and moving costs or else have enough cash to bring to the closing table?

2.   Are you and everyone involved committed to selling? Do your spouse and/or children want to move? Do you have adult children who have their own ideas about the house and what you should be doing?

3.    Is your house ready to go on the market? Has it been de-cluttered with everything in working condition, fixed or replaced, fresh paint, refinished floors, lighting, landscaping, etc., with updates that will appeal to today’s buyers?

4.   If you plan to sell “as is” and are you willing to reflect that in your list price?

5.   Do you have a place to go when you sell?

6.    Do you have the money/financing to buy a new property before you close on your current home?

7.   If you need to sell before you can buy, is temporary housing a realistic option for you, your family, pets…until you can find the right home? Inventory is extremely low right now, it could take a while.

8.    Are you willing and able to make some compromises/trade-offs?

9.      Do you have a realistic understanding of the current market and will you listen to feedback? 

10.   Are you ready to detach yourself from the memories you made in the house?
Selling your home is a lot of work and can certainly be stressful. Making sure you are qualified/ready, willing and able will make the process easier and result in a better outcome for everyone involved!

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Marilyn Messenger is a licensed real estate broker, Certified Residential Specialist, Accredited Buyer Representative, and Certified Luxury Homes Marketing Specialist/Million Dollar Guild Member associated with Andrew Mitchell and Company, Concord. With 25+ years of experience in Concord, Sudbury, Wayland, Maynard, Stow and the towns west of Boston, Marilyn will make the selling and/or buying process efficient and cost effective for you. Visit http://www.MarilynMessenger.com for more.

Suburban Condo Prices Up!

Condo prices are way up in Massachusetts are not just in Boston!  Click to link to a recent article in the Boston Globe.

Deer Hedge Run Maynard

Prices are also up over last year in many of suburban towns west of Boston.    

Here are median prices for some of the towns for the past 6 months:

Maynard: $257,000; up 3.4%
Concord: $367,500; up 4.7%
Wayland: $610,000;
Sudbury: $620,000; up 4.8%
Acton: $277,200; up 7%
Stow: $382,000; 7.4%

Active Adult Townhouses, Sudbury MA

Check out condominiums for sale at www.marilynmessenger.com.
and be sure to check out "Is Condo Living for You?" 

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About the author: Marilyn Messenger, a Certified Residential Specialist, Accredited Buyer Representative, and broker associated with Andrew Mitchell and Company in Concord has been selling condominiums for 21 years.

Having served on the Board of Trustees at Deer Hedge Run, she understands HOAs (homeowner associations) and the ins-and-out of condominium living. Contact Marilyn at 508-596-3501 for information about condominiums that may fit your needs. If you're thinking about selling; low inventory makes this a good time!

Condo Rental Available - $1150 - 2 bedroom Corner Unit -Maynard - Great Location!

10-MILL-ST-MAYNARD-MA-01754 Property Detail

Corner unit at Stonebridge Narrows Condominium abutting the Assabet River.Top floor. Living room with sliders to screened balcony. 2 bedrooms with good size closets. Linen closet. Laundry on same floor. One parking space in back. Storage pod in basement. Convenient to restaurants, shops, arts, parks, library, walking track, schools, Clock Tower Place, and more. Minutes to Route 117 for easy commute to Waltham or west to 495. Just painted and ready for you! NO PETS of any type or size.

Great Location - Convenient to Maynard Downtown, Clock Tower Place and Easy Commute to Waltham/117.

Abutting the Assabet River - Maynard MA

                                                                               

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Sudbury MA - Housing Market Still "Hot" in September!

September Closed Sales: The Sudbury market was still "hot" in September; sales and

prices were both higher than in September 2012. There were 23 closed single-family home sales during September in Sudbury compared with 6 in September 2012. The median sale price was $675,000 was up from $566,000 in September 2012.

Year-to-date (through 9/30): Sales and prices for the first nine months of 2013 are up over the same period last year in Sudbury. YTD there have been 203 closed sales in Sudbury compared with 183 in 2012. The median sale price in 2013 was $675,800; it was $639,000 for the first nine months of 2012.
Current: As in most places, there are fewer homes on the market than last year at this time (10/16); there are 66 single-family homes for sale compared with 93 on 10/16/2012. List prices in Sudbury range from $409,00 to $3,495,000. See homes for sales at www.MarilynMessenger.com.
The current median list price in Sudbury is $952,000; last year on 10/16 the median list price in Sudbury was $795,000. As in Wayland, the price range with the most choices is one million to 1.499 million – there are 17 for sale. The average time on the market for these properties is 266 days; some of these sellers may be ready to make a deal; most people do not want to have their homes on the market during the winter months. Buyers, this is time to buy if you want to be in your new home for the holidays!

Condominiums (townhouses and garden-apartment style): There were 5 closed sales of condominiums in Sudbury during September; all were new construction. The median sale price was $707,000.

Current: If you’re ready for easy living, there are 13 units for sale in Sudbury compared with 14 last year at this time. Prices range from $219,900 to $849,000; the median price is $714,900. The majority of townhouses for sale in Sudbury are new construction. Tip for buyers: you are entitled to have your own buyer agent/broker represent you when you buy new construction, you do not have to go directly to the builder’s agent. In order to have a agent working on your behalf, you must have your agent accompany you to your first visit to the site even if it’s just drive through to look around. Call 508-596-3501 to find out more. 

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Want to know more? Call me at 508-596-3501 or
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Market reports for Wayland, Concord, Sudbury, Stow, and Maynard at www.marilynmessenger.com

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