Who's Your Agent?

More often than you’d expect, homeowners refer to the person they bought their insurance from as their agent. It sounds reasonable but it is definitely not accurate. That person is the agent of the insurance company and they legally represent the company, not the customer. Even an independent agent who can place a policy with different companies is still an agent of the company.

A mortgage officer, in most cases is an employee and represents the company. And the same is true for a title or escrow officer. It’s important to understand the actual relationship to know what you can expect from them. Any businessperson who wants to stay in business must treat their customers fairly and with a high degree of service. As a customer, you should be able to reasonably expect honesty and accountability. The difference is that employees owe their loyalty to their employer and agents owe their loyalty to their principal.

An agent owes more than just honesty and accountability. The principal can expect complete disclosure, obedience, loyalty, reasonable skill and care and confidentiality from their agent. This advocacy is very beneficial during the buying or selling process to coordinate all aspects of the transaction. The agent can bring valuable experience to your side of the transaction to provide confidence that your best interests are being represented from start to finish.

Most states have a recognized procedure for the real estate professional to create a formal relationship between themselves and a buyer or seller. This requires a fiduciary/statutory responsibility that places the principals’ interests above the agent’s own personal interests.

In Massachusetts real estate brokers and salespeople/agents are required to provide consumers the Massachusetts Mandatory Licensee-Consumer Relationship Disclosure form at the first personal meeting with you to discuss a specific property. The form explains the types of agency an agent can provide. Although, this has been mandatory for years, many buyers who have looked at properties with other agents often tell me they have never seen the form! Consumers have a right to know who an agent represents.

Additionally, while a home seller is required to sign a written agreement in order to list their home for sale with a REALTOR (member of the National Association of Realtors), it is also in a buyer's best interest to have a written agreement with an agent who is going to represent them as a buyer agent. It clarifies expectations so there are no surprises or misunderstanding about responsibilities and makes for a less stressful transaction. Click for more information about buyer agency

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About the author: Marilyn Messenger is a local real estate broker associated with Andrew Mitchell and Company, Concord. She has been representing buyers and sellers in Concord, Wayland, Sudbury, Maynard, and the towns west of Boston since 1993. She is a Certified Residential Specialist (less than 4% of Realtors have achieved the CRS® designation), an Accredited Buyer Representative and is an active member of the Real Estate Buyer Agency Council. Messenger is also a Certified Luxury Homes Marketing Specialist and a Million Dollar Guild Member. Visit www.MarilynMessenger.com

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.

             

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Homes for sale at www.marilynmessenger.com
Contact Marilyn
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Townhouse in Maynard MA - 11 Oak Ridge Drive Unit 6

    

Perfect for first-time home-buyers, down-sizers, or anyone looking for easy living in a great location! You'll love the private location and move-in ready condition of this 4-level townhouse at Oak Ridge. Open first-floor layout includes a maple/stainless kitchen and adjacent dining room with sliders to a deck where you'll enjoy beautiful wooded views, afternoon sun. The second floor has two spacious bedrooms with generous closets, a linen closet and a full bath with cherry cabinetry, double-sinks. The finished third floor loft with a wood-burning fireplace is perfect for an office, playroom, or private getaway space. Semi-finished lower-level walk-out is ready for your completion. Trane brand gas furnace and air-conditioning, replacement windows, 2015 roof.  MORE...

Bordered by Concord, Sudbury, Acton, and Stow, Maynard is located approx. 25 NW of Boston; an easy commuter location to Waltham, Cambridge, Boston, and west to Route 495. The variety of specialty shops and restaurants, the Fine Arts Place movie theater, library, Art Space, community theater, parks, walking track, farmer's market, Erickson's Ice Cream, golf club, the Assebet River Rail Trail, and the newly designated Maynard Cultural District make Maynard the place you'll want to call home. 

If you haven't been to Maynard, come see what you're missing! And, if you would like to live in Maynard, check out homes for sale at www.MarilynMessenger.com or contact me to arrange a time to talk marilynmessenger@realtor.com

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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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.

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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...