There's the potential for new development , someone definitely owns that huge plot of land adjacent ( it sold recently) to bloody brook. Future home values will depend on how that area is developed, if it's larger homes, great, if it's condos, not so great.
There are lots of other areas in Amherst to look at.... more
You may do pretty much anything to the interior of the home. The exterior must meet qualified guidelines provided by the Amherst Historical Commission. The entire Village is on the National Historic Register. You will have to have new windows approved, you may not put vinyl siding up etc. You will need to present your plans to the Committee at their monthly meeting. Pretty much anything that can be seen from the street is regulated. This is done to preserve the look and feel of the Village and it's authenticity. It also protects the resale value of all of the homes in the village in this manner.
Please feel free to let me know if you have any other questions, I would be happy to guide you in your purchasing process.
James they key is looking at who the most probable buyer is in an over 55 community. Most of the times is a couple selling their life long home to move into a new(er) home with little to no mainteance. They owe nothing on their home and pay cash for the new home. Because alot of people are still not comfortable selling yet, they may not know the market HAS changed to their favor. There are alot of buyers and few listings available for residential homes. They think they can not sell their home in this market to be able to move but actually could, they just need to choose the right Realtor to do it. Then as far as the re-sales in these areas, as noted the owners did buy at peak and may not be ready to take a loss. The ones you see selling are usually facing a reason they HAVE to sell and you see a more realistic price where they do not last long. If you are looking to buy, call or email me, I would love to help you or answer any other questions.... more
I grew up in Amherst and currently live with my family in Mont Vernon. Send me a direct email and I will be happy to set up a custom search string that will send you daily updates of REO and Short Sale homes that are for sale. I just closed on one the other day!... more
Karina it depends on how teh short sale was recorded on your credit report, only a lender can judge how bad teh report is, if you can even get a mortgage within 2 years of a short sale you are pretty lucky a smost people can not. The best advice is to meet with a couple of different lenders. You need to ask them direct if a cosigner will help lower the down payment, if not and they all say 20% is your only way than you need to find a house that will do a lease purchase if the one you have choosen will not. Good luck in working things out... more