Hot Times for Condos!

Everyone has heard by now that the real estate market is as hot as the weather this summer! The demand for condominiums, including townhouses, detached single-family, duplex, and high-rise and mid-rise apartment-styles is especially high. This is partly due to the lack of supply of single-family homes for sale but also because condominiums offer the easy life-style that is attractive to first-time buyers, down-sizers, and anyone who wants to enjoy the benefits of home-ownership without a lot of the work.

The Regency at Stow, still under construction, is sold out!

New communities that are being built for active adults/55+ are selling out faster than they can be completed. The Regency at Stow, a 66 unit development is sold out. Highcrest at Meadow Walk near the Whole Foods in Sudbury is also moving fast with 13 units already under contract. There have also been resales at Mohoney Farms and Dudley Brook in Sudbury; and at WestRidge in Hudson. 

SOLD at WestRidge - Single family condo - $595,000

As the supply of non-age restricted condominiums continues to remain low, prices are continuing to rise!

Year-to-date, the median sale price of $454,950 for all styles of condominiums in Middlesex County is up 7.05% over last year and the average price of $510,365.42 increased by 5.60%.

Good news for sellers but tough times for buyers who need to be prepared to step up and in many cases be willing to compete, especially for units that are completely updated and move-in ready. For buyers who are willing to do some updating on their own, competition is a bit less fierce.

If you are looking for easy living in a great location near Concord, Acton, and Sudbury, here is an excellent opportunity at Deer Hedge Run in Maynard that's listed for $290,000 with 3 finished levels plus a full basement, 2016 furnace and a/c, an eat-in kitchen, open-concept living/dining room, and parking directly in front of the unit. Click for details.

             

-------------------------------------------
Homes for sale at www.marilynmessenger.com
Contact Marilyn
-------------------------------------------

Condominiums – Easy Living, Parking, Pets, and Pools

Had Enough?

It's been a tough winter and a lot of homeowners, especially empty-nesters have had enough and are ready to consider condominium living. Empty-nesters have a variety of choices since most of the communities that have been built and that are currently under construction are "active adult" communities that cater to the over 55 home-owner. You not only get an easier lifestyle but also the opportunity for the features you don't have in your current home.

Condominiums are also attractive to first time home buyers. They tend to offer more appropriate living space than 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 condominium at any stage of life may be a good option for you. For the most part, 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!

A condominium is a form of home-ownership that can include a variety of home-styles including attached townhouses, detached single-family homes, apartment-style, duplex, or one floor in a multifamily house. Whatever the style of condominium, there will be a Homeowner Association that will govern the according to the master deed and rules and regulations of the entity.

Most homeowner associations (HOAs) 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, pets, and swimming pools seem to be the biggest issues but there may also be rules holiday decorations, gardening, decks, facility usage; bicycle and baby carriage storage, rental restrictions - some communities do not allow any rentals.

Unit-owners are most often responsible for windows and doors and you may be required to take care of some outdoor areas including landscaping, deck maintenance and snow clearing of exclusive use areas – those are areas that are part of the common property but are considered to be part of a unit. Inside the unit, homeowners are responsible for plumbing, electrical, etc. unless these items service more than one condominium unit. While there is certainly less maintenance than living in a single-family home, it is not like living in an apartment where you call the landlord if something goes wrong.

If you are financing your purchase with a mortgage, your lender will review the budget and send a questionnaire asking about the financial condition of the development - i.e. number of owner occupied units, if there are any pending lawsuits, special assessments. 

As the buyer, it is really important for you to read the rules and understand what your responsibilities will be – the ads for “maintenance free” may not be 100% accurate. 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. 

Living in a condominium 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 for you or is willing to volunteer to be on the Homeowners Association Board of Trustees, and won't mind trading some personal freedoms in return for convenience.

Once you accept the condominium rules and understand your responsibilities you can move forward and enjoy the lifestyle that's right for you! Check out condominiums for sale.

------------------------------------------------

Marilyn Messenger has been representing condominium (including new construction) sellers and buyers in Sudbury and the nearby towns west of Boston for 21 years. She served on the Board of Trustees at Deer HedgeRun in Maynard for 2 years and understands how Homeowner Associations function.  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?" 

----------------------------------------------------------
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!

Maynard Townhouse Prices on the Rise at Deer Hedge Run, Apple Ridge, Oak Ridge



Deer Hedge Run, Deer Path, Maynard MA

Here is the latest market information for Deer Hedge Run, Apple Ridge, and Oak Ridge, three established townhouse condominium developments in Maynard. The data is for the six month period ending on 8/14/2013. Six months is the period of time that lender/bank appraisers use for new purchase mortgages and refinancing.

Deer Hedge Run

There were 5 closed sales at Deer Hedge Run during the past 6 months. Sale prices ranged from $183,950 (non-MLS listing) to $242,000 for a townhouse that sold in June for $195,000 that was 2 finished levels. The new owner finished the third floor loft and flipped it for $242,000. The average price was $213,190. Last year for the same period the average sale price at Deer Hedge Run $199,275.

Currently, there are 3 townhouses listed for sale. List prices range from $219,500 to $249,000. Two of these units already have accepted offers with contingencies so really there is only one that is fully active; that is that is listed for $249,000.

Deer Hedge Run is conveniently located off Route 62 in Maynard, near the Acton, Concord, Sudbury line, just minutes from Routes 117 and Route 2. Beautifully sited on 37+ private acres with mature landscaping, residents enjoy a community pool, tennis court, and clubhouse with living room, dining room, kitchen, and fitness room. Visit www.DeerHedgeRun.com for additional photos and information or call Marilyn at 508-596-3501 to find out what's going on at Deer Hedge Run.

Apple Ridge

Apple Ridge is a similar townhouse development in Maynard that was built by the same developer. It is located off of Summer Street near Stow, with easy access to Route 117. There was one closed sales during the past six months; a unit that had four finished levels and was completely updated with high-end finishes sold for $285,000. Last year there were no closed sales at Apple Ridge for the same 6 months. Currently, there are 2 units with sales pending.

Oak Ridge

Sale prices at Oak Ridge, also built by Hayes Development of Concord MA, located off Waltham Street near the Sudbury line, were also higher this year. Call 508-596-3501 for more information.



Connect with Marilyn Messenger on Google+

Is Condo Living Right For You?

Condominium living has lots of benefits for the right person. Generally, you can get more living space for the same price as a single-family home, developments tend to be newer, and many offer amenities such as swimming pools, tennis courts, etc. that you probably wouldn’t have as a single-family home-owner. Exterior maintenance is taken care of by the homeowner association so you don’t have to be concerned about painting, landscaping, snow plowing, etc. If your roof leaks, just call the association.

If you’re someone who just wants easy living and convenience and you don’t mind paying a fee each month and letting other people make decisions for you and maybe giving up some personal freedoms for the greater good, it’s a great lifestyle! Just pay the fee, follow the rules, and forget about it…

So, what’s not to like? Well, if you like to be in control about how and when things happen, then you may not like it when the trustees of the association don’t respond to your requests right away. Or maybe your roof is going to be replaced in two years so they’ll only do a patch job for now. Or maybe you want Aunt Mary to visit next summer and park her trailer on the property. Or you want to leave your cat run free, or decorate for the holidays … the list goes on. You may not think the rules don’t matter and “Aunt Mary’s only staying for the weekend” no big deal, right! Unless lots of people are having guests with trailers all summer – what’s that going to look like? How do you feel about paying for repairs that really don’t directly benefit you… condo owners share everything – amenities as well as costly repairs.

I think you get what I mean… When purchasing a home, it’s important to think about how you want to live, not just what’s the biggest, newest place you can afford.

If you are looking for easy living, these two townhouse units at Deer Hedge Run and Oak Ridge in Maynard MA 01754 (22 miles west of Boston) can’t be beat!

Find your next home at www.marilynmessenger.com - complete MLS listings with addresses and maps, new and information to help you plan your move.

Home Buyer Etiquette

Buying a home is an emotional experience that can bring out the best and the worst in people. Even people who are generally considerate sometimes forget how to behave when they are looking for a house. After-all it’s not something people do every day, it’s a big purchase and it’s at least a little scary for most people. Sometimes, when there’s more than one person involved they may not agree, the kids are cranky from driving around, and everyone is concerned about making the right decision. All of these stress factors can cause people to act in ways they never would otherwise.

Now that market is getting busy and everyone is running around looking at houses, here are a few things to keep in mind while you're out there...hope it's helpful.. let me know if you have something to add.

1. Always remember that houses belong to someone even when they are on the market. Owners have a right to know who is asking about their home – wouldn’t you want to know? When you contact a real estate agent or call an office be prepared to give some basic information – name, address, phone number, and whether or not you are pre-approved for a mortgage.

2. If you are not pre-approved for a mortgage, don’t be offended if an agent won’t show you a house. Instead, ask who you can contact to get pre-approved. It’s a waste of everyone’s time and agents have a responsibility to show homes only to qualified buyers. If you’re not ready to get pre-approved, then you’re not ready to look at houses!

3. If you go to an open house be prepared to sign-in and give correct information...more

Maynard Real Estate - Open House 2/10 - Win Bahamas Trip!

7 Taft Ave, Maynard MA

Open House - Sunday 2/10 1 to 3 P.M.

Enter to Win a trip to the Bahamas

Rare find! 4 car garage, 1/2 acre lot, 4 bedrooms, cul-de-sac with river views - lots of recent improvements... stop by, enter to win!

Listed by Marilyn Messenger, William Raveis Real Estate, Mortgage & Insurance - Sudbury, Wayland, Weston, Maynard, Stow, Hudson and west of Boston MA.

Real Estate Market Conditions - Mayard MA

Here are the current real estate market conditions in Maynard Massachusetts: Compared with last year at this time, the number of homes for sale in Maynard is up; median and averages list price are down, and time on the market is up. All of which is good news for people looking for home-ownership opportunities west of Boston.

Currently, there are 52 single-family homes for sale, up from 46 one year ago. List prices range from $240,000 for a 2 bedroom, 1 bath Colonial style home that needs TLC, to $569,900 for a 9 room, 4 bedroom, 2.5 bath Colonial on a cul-de-sac. The median and average list price is almost the same. $379,000 is the median; $379,733 is the average. Last year at this time, the median list price was $389,900; the average list price was $387,291.

Even with lower asking prices, homes in Maynard are staying on the market more than twice as long as one year ago – 101 days vs. 47, indicating that prices may not have adjusted enough for buyers to step up. We’ve all been hearing about how the sub-prime mortgage market is affecting the overall market especially first-time home buyers with small down-payments. While Maynard has excellent opportunities for this segment of the home-buyers, the tighter mortgage market is starting to take its toll.

Maynard also has some excellent condo/townhouse opportunities including the established communities at Deer Hedge Run, Apple Ridge and Oak Ridge where list prices range from $279,900 to $319,000. As is the case with single-family homes, there are more available 31 vs. 27 last year and market time is up substantially to 169 days from 104 on 5/10/06. However, both median and average list prices are up. Sellers need to adjust their thinking if they want to sell.

Often referred to as ‘the Harvard Square of metrowest” Maynard has lots to offer. With diverse home-styles and settings as well as an active downtown with shops, restaurants, a movie theatre, community theatre, space for artisans, a new library, and a country club there's something just about everyone in Maynard.

To find out what homes are available in Maynard and the nearby towns west of Boston, visit www.marilynmessenger.com your on-line source for real estate listings, news and information or call Marilyn Messenger at 508-596-3501 for personal real estate services.

*Data source; MLSPIN (Multiple Listing Service