Real Estate and *stuff *
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New to the market on Liberty Street in Marlborough!
June 23, 2016
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Available for August close! Check out this completely renovated Village Colonial in the Ward Park Neighborhood of Marlborough! This 1880 home has been brought up to today’s standards with updated electrical, plumbing, gas heat, central a/c, roof, insulation and siding. New kitchen with pantry, stainless steel appliances, corian counter tops and sliding barn door. First floor bedroom / office with full closet and French doors. Open staircase with large window and coat area for great sunlight! Large master with Jack and Jill style full bath on the second floor. All the original wide plank pine flooring on the second floor has been restored and shows beautifully with the contemporary flair this home now has. Full daylight walk out basement to the completed fenced in large yard is perfect for dogs or kids. Oversized one car garage! 3 bedrooms, 1.5 baths, 1000+ sq ft. Walking distance to downtown shops and restaurants and on the edge of newly finished Ward Park with tennis courts, running track, playground and Skate Park. Great commuter location! Home will be listed in August but private showings for qualified buyers now! Listed at just $324,999!
5 Ways You Didn’t Know You Could Save for a Down Payment!
June 22, 2016
One of the biggest misconceptions of home buying? The 20% down payment. Here’s how to buy with a lot less down.
Buying your first home conjures up all kinds of warm and fuzzy emotions: pride, joy, contentment. But before you get to the good stuff, you’ve got to cobble together a down payment, a daunting sum if you follow the textbook advice to squirrel away 20% of a home’s cost.
Here are five creative ways to build your down-payment nest egg faster than you may have ever imagined.
- Crowdsource Your Dream Home:
You may have heard of people using sites like Kickstarter to fund creative projects like short films and concert tours. Well, who says you can’t crowdsource your first home? Forget the traditional registry, the fine china, and the 16-speed blender. Use sites likeFeather the Nest and Hatch My House to raise your down payment. Hatch My House says it’s helped Americans raise more than $2 million for down payments.
- Ask the Seller to Help (Really!):
When sellers want to a get a deal done quickly, they might be willing to assist buyers with the closing costs. Fewer closing costs = more money you can apply toward your deposit.
“They’re called seller concessions,” says Ray Rodriguez, regional mortgage sales manager for the New York metro area at TD Bank. Talk with your real estate agent. She might help you negotiate for something like 2% of the overall sales price in concessions to help with the closing costs.
There are limits on concessions depending on the type of mortgage you get. For FHA mortgages, the cap is 6% of the sale price. For Fannie Mae-guaranteed loans, the caps vary between 3% and 9%, depending on the ratio between how much you put down and the amount you finance. Individual banks have varying caps on concessions.
No matter where they net out, concessions must be part of the purchase contract.
- Look into Government Options:
The U.S. Department of Housing and Urban Development, or HUD, offers a number of homeownership programs, including assistance with down payment and closing costs. These are typically available for people who meet particular income or location requirements. HUD has a list of links by state that direct you to the appropriate page for information about your state.
HUD offers help based on profession as well. If you’re a law enforcement officer, firefighter, teacher, or EMT, you may be eligible under its Good Neighbor Next Door Sales Program for a 50% discount on a house’s HUD-appraised value in “revitalization areas.” Those areas are designated by Congress for homeownership opportunities. And if you qualify for an FHA-insured mortgage under this program, the down payment is only $100; you can even finance the closing costs.
For veterans, the VA will guarantee part of a home loan through commercial lenders. Often, there’s no down payment or private mortgage insurance required, and the program helps borrowers secure a competitive interest rate.
Some cities also offer homeownership help. “The city of Hartford has the HouseHartford Program that gives down payment assistance and closing cost assistance,” says Matthew Carbray, a certified financial planner with Ridgeline Financial Partners and Carbray Staunton Financial Planners in Avon, Conn. The program partners with lenders, real estate attorneys, and homebuyer counseling agencies and has helped 1,200 low-income families.
- Check with Your Employer:
Employer Assisted Housing (EAH) programs help connect low- to moderate-income workers with down payment assistance through their employer. In Pennsylvania, if you work for a participating EAH employer, you can apply for a loan of up to $8,000 for down payment and closing cost assistance. The loan is interest-free and borrowers have 10 years to pay it back. Washington University in St. Louis offers forgivable loans to qualified employees who want to purchase housing in specific city neighborhoods. University employees receive the lesser of 5% of the purchase price or $6,000 toward down payment or closing costs.
Ask the human resources or benefits personnel at your employer if the company is part of an EAH program.
- Take Advantage of Special Lender Programs:
Finally, many lenders offer programs to help people buy a home with a small down payment. “I would say that the biggest misconception [of homebuying] is that you need 20% for the down payment of a house,” says Rodriguez. “There are a lot of programs out there that need a total of 3% or 3.5% down.”
FHA mortgages, for example, can require as little as 3.5%. But bear in mind that there are both upfront and monthly mortgage insurance payments. “The mortgage insurance could add another $300 to your monthly mortgage payment,” Rodriguez says.
Some lender programs go even further. TD Bank, for example, offers a 3% down payment with no mortgage insurance program, and other banks may have similar offerings. “Check with your regional bank,” Rodriguez says. “Maybe they have their own first-time buyer program.”
Not so daunting after all, is it? There’s actually a lot of help available to many first-time buyers who want to achieve their homeownership dreams. All you need to do is a little research — and start peeking at those home listings!
More articles like this available HERE.
Excellent investment opportunity in Somerville!
June 20, 2016
Attention Investors! Grab this quick! Fully-rented three-family in the hot market of East Somerville! Just steps to Sullivan Square T, Assembly Square Shops, Restaurants & Route 93 you will always have tenants! First floor has individual entrance with central air and basement access. All units have separately metered gas heat. Maintenance free vinyl siding and newer roof. Great private fenced back yard. Each level has 2 bedrooms and 1 bathroom with great details such as hardwood floors and built-ins. Realize over a 5% cap rate with market rate rents! Listed at just $949,999!
Contemporary colonial home for sale in Hopkinton!
June 20, 2016
Located at 90 Frankland Road, this impressive 3000+ sq feet of quality New England construction can be found in this contemporary colonial on a quiet street in Hopkinton. Great commuting location but quiet and peaceful on 2+ wooded acres this is truly an oasis at the end of the day! Open floor plan on the main level with a curved stair case off the foyer. Kitchen/dining room spans 28 x 16 along the back of the house with a full deck to enjoy. Granite counters and plenty of windows! Oversized fireplace family room is 21 x 18 with hardwoods and easily accommodates the whole family. Expansive master bedroom (22 x 21) with cathedral ceilings. 4 bedrooms, 1.5 baths and a full dry walk out basement that is plumbed and ready to finish! Previous permit in hand for a detached 2 story garage or barn on a slab foundation. New roof and new septic in 2013! This house could easily be worth $100ks more with a just a small amount of elbow grease! Listed at just $525,000!
Price adjustment on this contemporary Marlborough home!
June 20, 2016
Houses like this don’t come on the market often! Completely renovated contemporary 5 bedroom 3 bath home on a secluded wooded lot in a premier cul-de-sac location in Marlborough! Open concept main living area with real solid hard wood floors and transitional kitchen with custom cabinets; smudge proof stainless steel appliances and granite counters with offsetting island. Bright and airy with vaulted ceilings and with double slider doors to the deck and expansive wooded back yard. Full master suite with a vaulted ceiling and skylights, brand new bathroom and walk in closet. Main level bath complete with ceramic tile floor and double vanity to accommodate a growing family. Lower level family room with fireplace and full bath allows for flexible living arrangements with in-laws, teenagers or an au pair. With over 2200 sq feet of top quality living space this is a house to make a home! 2 car garage, gas heat, central a/c and location location location! Near shopping (Soloman Pond Mall), restaurants, movies, sports complex and major commuting routes but nestled in a quiet cul-de-sac location with sidewalks. Voted a ?2016 Game Changer? in the Boston Globe Marlborough enjoys easy highway access and has a top rated (#3 in the country according to US News) AMSA school. Now just $498,500!
Beautiful colonial home for sale in Princeton!
June 20, 2016
What a wonderful home to bring to our busy market! This newer colonial set back from the road on a picturesque 2+ acre lot in Princeton has a lot to offer you. Wonderful layout on the main level with flexible open floor plan with hardwoods to include a formal living room, dining room and study. Oversized windows throughout for great natural light! Large eat-in chef’s kitchen with granite counters, stainless steel appliances and custom cherry cabinets looks out over the expansive flat back yard and the deck. From the double story foyer and staircase is the master bedroom featuring his and hers closets and private bath with jetted tub. Three generous sized bedrooms and another full bath complete the upper level! Full walk out basement could be finished for additional space but with 2400+ sq feet you will have plenty of room to roam! FREE one year home warranty with accepted offer by 5/31. Occupancy to be 7/1 or later due to tenant lease. http://19redemptionrocktrailnort.ihousenet.com/
Two-family on 3.7 acres for sale in Holden!
June 20, 2016
THIS is TRULY an opportunity! Back on market due to buyer financing fall out. Priced well below assessed value! Legal two family on 3.7 acres with 3 barns in a great location on Salisbury Street in Holden. Would make an amazing restoration project back to a single family! Original wide pine flooring and high ceilings. Additional loft area and deck to the side yard. This is a huge beautiful house that started life in 1850 and is now ready for the next chapter with someone who can roll up their sleeves and do some hard work to the 4288 sq feet of living space. Keep it a two family and enjoy rental income or turn it back into a single family and enjoy the grandeur of days gone by. Now listed at $237,500! NO ACCESS TO PROPERTY. PROPERTY CONVEYS WITH EXISTING TENANTS. TITLE V WILL NOT BE DONE. DOES NEED WORK! Cash buyers only! HURRY HURRY HURRY!!!!! NOTE – DO NOT WALK THE PROPERTY.
Price adjustment on this Victorian in Ware!
June 20, 2016
Amazing opportunity to own a classic New England Victorian with character and all the extras. This proud home has been with us since 1855 and retains many original details. You will be breathless walking through the door to the wide sweeping hardwood staircase with gentle natural lighting from the stain glass window hallway above. Delightful original pocket doors allow you to enter the fireplace study or the front to back living room with pellet stove. 3 season enclosed porch, deck and swimming pool! Oversized kitchen & full dining room. With six bedrooms, 3 baths and a walk up attic for more space it will be hard to run out of room! Full walk out basement with workshop and high ceilings allows for the hobbyist if the two story barn (wired) is not enough. Updated electric, plumbing, heating and bathrooms. Great in-town location 15 minutes to the MA Pike and 30 minutes to Amherst and USDA qualifying! Price dropped to just $254,999!
TOUR HERE: http://www.vuleetours.com/3dtour/12-cottage-street-ware/
Starter home for sale in Shrewsbury!
June 20, 2016
If you are looking for a great starter home or condo alternative in a wonderful community, then we are here for you! 20 Bay View Road is situated back from the road offering a huge front yard for both privacy and fun! The updated main level has a full bedroom, bathroom, galley kitchen and large living room overlooking the side yard with bay windows. This is a flexible floor plan that can be a combined living / dining or open concept and optional first floor master bedroom! Completely renovated lower level includes heated floors, fireplace and half bath for the current master suite. Sought after location with neighborhood park and desirable commuter location with easy access to shopping and Mass Pike, Routes 20, 9, 122 and 146. Large back yard with lofted garage provides additional storage space for future expansion possibilities! Now just $224,999!
Contemporary home for sale in South Holden!
June 20, 2016
Exceptional quality in this spacious contemporary home in South Holden! Located at 377 Bailey Road, the discerning buyer will appreciate the finer details from the mahogany built-ins in the over-sized formal living room with fireplace and hardwoods to the radiant floor heating in the breeze-way to the breakfast room. Spacious & bright with granite counters, the kitchen offers a versatile work space that is augmented with a summer kitchen in the lower level. The buyer looking for versatility will enjoy the first floor master bedroom with well appointed marble full bath as an option to the upper level oversized master with full bath. 5 bedrooms and 3 baths allows for multi-generational living. This home is made for entertaining with the four season sun porch, Vista Spa and upper level deck all beautifully situated on a country road on over an acre. This is truly an extraordinary home that offers much more than the asking price for its new owner!
Real Estate and *stuff * 