Home Buying in Winchester>Question Details

Samantha, Home Buyer in Winchester, MA

Info on 171 Swanton street, "the villages".

Asked by Samantha, Winchester, MA Fri Jan 18, 2013

We are first time home buyers looking for homes in winchester. Came across few townhomes in "The Villages". Was surprised by the condo fee..$450 pm. Is that normal in winchester area? It is worth ? considering units were priced between Units were price between 400K- 445K. We looked at 3 bdr and 2.5 bath units.
anyone has info can you please share ?

thanks.

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BEST ANSWER
Did the realtor say it was up to you because she/he also represents the seller? Either way, that is not good advice. Try finding yourself an exclusive buyer broker. They will do a complete valuation of the property and tell you what it is worth in the current market and then you can make offers accordingly. You hire a realtor (professional) to help guide you in every way throughout the process not to tell you "it's up to you." They are getting paid to work on your behalf so make them :)

In regards to a good price for the property, it loos like #43 (which is a 3 bed/2 full bath and 1 half bath TH) was listed for $299,999 and is already under agreement which is a $100,000 less than what #45 (similar square footage and also a 3 bed/2 full bath and 1 half bath TH) is listed at, $399,900. #43 sale will definitely have an impact on the value of #45.

Over the last year 4 condo townhouses have sold in The Villages complex and here are the average sale statistics:
Avg.Square Feet: 1,531.25
Avg. List Price: $396,725
Avg. Sale Price: $386,500
Avg. Days on Market: 58.25
Avg. Sale Price/SqFt: $254

1 of those TH's was only 2bed/1 full bath & 1 half bath (cheapest)
1 was 3bed/2 full bath & 1 half bath (most expensive)
2 of the TH's were 2bed / 2 full bath & 1 half bath
**Also important to note is that the above sales were in much nicer/more upgraded condition than #45 so that should also be calculated into overall value.

The condo fees are high because it includes all the amenities and maintenance of the complex: Water, Sewer, Swimming Pool, Exterior Maintenance, Road Maintenance, Landscaping, Tennis Court, Clubroom, Garden Area

Here is a link to the TH on the market for sale:
http://www.territory.com/mlspin/71473485/171-swanton-street-…

Here is the one currently under agreement:
http://www.territory.com/mlspin/71468204/171-swanton-st-winc…

Here is a link to everything on the market for sale in Winchester:
http://www.territory.com/search?search_string=WINCHESTER&…

Hope that helps!

Feel free to give us a call anytime if you have questions. We are here 24/7 to help buyer's exclusively.

Territory.com
Massachusetts Premier Buyer Brokerage
617 848 5407 x701
Web Reference: http://territory.com/
1 vote Thank Flag Link Fri Jan 18, 2013
Thank you everyone.
I came to know that seller's have an strong offer, my relator feels that it might be over or at asking price. She says there isn't much inventory at this time so asking us to bump up the offering,she says it is now upto us to decide the price.
The property needs serious face lift.
We are confused whether to go for asking price. We really like the community and the neighborhood but not sure if this property is worth chasing at full listing price.
Flag Sat Jan 19, 2013
Another thing to consider is how much more house $450 / month will let you buy.


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1 vote Thank Flag Link Sat Jan 19, 2013
Hi Samantha,

if your Realtors is working exclusively with you (I.E. your buyer's agent) he/she should be giving you all the comps with the data that you need to help you make an informed, educated decision as what to offer, that is part of the job. This forum is great to get general questions answered but it could also be confusing as opinions and answers may vary from person to person. The key when purchasing is to go by your budget (something your Realtor should also help you with). Wen - info@wenrealty.com
Web Reference: http://www.wenrealty.com
1 vote Thank Flag Link Fri Jan 18, 2013
Hi Samantha,

This is typical with complexes that offer amenties such as a swimming pool, tennis courts, clubhouse along with the fact it covers your outside insurance, outside maintenance, water and sewer with reserves for future repairs. The Villages are very nice and well mantained by the mangement company. If you have any other questions please give me a call 617-216-7455 hope this helps

Joan Barker
Coldwell Banker Real Estate
Winchester Ma
joan.barker@nemoves.com
1 vote Thank Flag Link Fri Jan 18, 2013
Hi Samantha,

sometimes condo fees can be quite high depending on the complex, location and what it covers. As first time home buyers I would strongly suggest you get a Realtor to represent you and assist you (if you don't have one already). This will not cost you anything and you'll have some one on your side. You can find some experienced brokers here, speak to a few and then select one to help you in achieve your goal. Let me know If we can be of assistance, Wen info@wenrealty.com
Web Reference: http://www.wenrealty.com
1 vote Thank Flag Link Fri Jan 18, 2013
The 2 units currently available for sale in the 'Village in Winchester" are listed at $399.9K and $299.9K (although this last one already has an accepted offer.) The condo fees relate more to the age of the complex and what they include than to the town the condos are in. Part of the fees usually include a "reserve" to save up for major repairs (like new roof or exterior painting.) The rest is for master insurance, road maintenance, amenities (tennis court in this case), water/sewer, etc.

You would certainly want to look at the condo's financials before you buy, to see what kind of reserve they have, and to see if they are planning a special assessment. This happens if they have a repair costing more than what they have saved for.

People worry about condo fees, but add up what it would cost you for the same things for a single family, and then compare.

Hope this helps!

Deb
1 vote Thank Flag Link Fri Jan 18, 2013
Hi Samantha,
a property is worth what a buyer is willing to pay for it. Looks like you have questions/reservations about this one. Offer what you are comfortable and as i mentioned go by your budget.
Web Reference: http://wenrealty.com
0 votes Thank Flag Link Sun Jan 20, 2013
Thank you everyone.
I came to know that seller's have an strong offer, my relator feels that it might be over or at asking price. She says there isn't much inventory at this time so asking us to bump up the offering,she says it is now upto us to decide the price.
The property needs serious face lift.
We are confused whether to go for asking price. We really like the community and the neighborhood but not sure if this property is worth chasing at full listing price.
0 votes Thank Flag Link Sun Jan 20, 2013
Thank you everyone for their reply. In addition to $450pm there is 130 pm for special assesment for next 18 months.

The property needs total facelift and it is priced at $399,999K. To me that is little overpriced considering the Comps sold over past years.

I do have a realtor but she says its upto myself how much I am willing to pay to live in it.

What is your opinion? Is this fairly priced with the condo fee+ sp. ass fee in consideration ?

We are confused.

thanks,
Samantha
0 votes Thank Flag Link Fri Jan 18, 2013
Hi Samantha:

I can give you good information on the condo market in Winchester. I am an agent with Waterfield Sotheby's in Winchester. Please contact me at naomi.delairre@waterfieldsir.com. I would be happy to help you with this and other questions you may have about our market and our community here in Winchester.

Naomi DeLairre
naomi.delairre@waterfieldsir.com
0 votes Thank Flag Link Fri Jan 18, 2013
Best next action is to ask a local Real Estate Broker by clicking "Find a Pro" in the main menu at the top of this website. http://www.naplesrealestateguys.com/
0 votes Thank Flag Link Fri Jan 18, 2013
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