rather than losing their home most people if they had any equity would sell it or refinance. If the home is worth 200,000 and they owner owes 250000 plus late fees and penalties it wouldn't be worth buying.... more
The Spring market looks like it is going to be a busy one. Low inventory will push the prices up just a bit. We are seeing multiple offers on some of the newer listing. Interest rates are low so if you have been watching the market I suggest you jump in and secure your home.
Please feel free to check my web site out or call me.
ERA Key Realty
Homeowners can get permits themselves for all normal repairs other than plumbing. It's interesting that you can do your own electrical work, but not install your sink, and there's actually a reason for that. In short, the worst you can do by screwing up the electrical work is blow up your own home, but if you make a plumbing mistake you can contaminate the towns water supply, so they're very strict on that.
Make sure that you ALWAYS pull a permit, because most homeowners don't and get into issues later.
Also, make sure to take into account the fact that it's almost always better to buy something that doesn't need that kind of work - especially in the lower ranges. To buy a $250k home that needs 30K in work, means that you need come come up with 30K after closing. On the other hand, to buy a $280K home that doesn't need work would be a mortgage payment only about $100 more a month, and then it's turn key and ready to go.
There are so many lovely homes for sale that you shouldn't really have to settle for something beat up.
For a list of some new listings, go to www.shrewsbury-massachusetts.com and you can check out the map based search interface.
REMAX First Choice
Shrewsbury's Top Agent since 1992
For more great information on the Shrewsbury real estate market, click the link below and check out my free video.... more
Depends on your financing. If you are putting a small % down on the home there may restrictions on how much the seller can offer you in closing costs so check that out. The seller cares about the net so its just a numbers game for the buyer. Would you rather pay a higher price and essentially take a loan out on the closing costs (bc they are incl) or pay a lower price and have a smaller (albeit not by much) loan. Most people in this price point would rather pay the higher price since it wont change your monthly payments too much. There are so many costs associated with buying a home that people would rather save it for reno's / furniture / moving, etc. However, you need to make sure that higher number is current market value otherwise you could get a call after weeks of being under agreement saying your appraisal came in lower than your purchase price and that you cant get the loan.
Get a good buyer broker. It will save you a lot of time and money.... more
How exciting for you! Â You just signed an offer to purchase a new home. Â You may have an good sense of where things go from here, you may not. Â But lets delve into the most typical scenarios here
Investing in Real EstateThere are many ways to invest in Real Estate. Â But the profitable ways (for the little guys) are different, depending on where we are in the real estate cycle. Â To help identify