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Margaret Mac…, Home Buyer in Buzzards Bay, MA

what are the park fees in whispering meadows mobile co operative park peabody ma?

Asked by Margaret Macdonald, Buzzards Bay, MA Tue Jan 29, 2013

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Hi Margaret, I just wanted to follow up and make sure all your answers have been addressed. Please let us know if you have any additional questions/concerns/interest and if you could rate the answers to your question it would be greatly appreciated!
0 votes Thank Flag Link Tue Feb 26, 2013
This is an unusual ownership situation.
Most parks are owned by an entity or person, and the unts lease their "parking space".
The ownership of the park by the unit owners means much more long term stability, because the owners probably won't sell their land to a developer - at least not unexpectedly.


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0 votes Thank Flag Link Tue Jan 29, 2013
Hi Margaret, At Whispering Meadows the the park fees are approximately $200/month. The additional fee that many owners pay as part of their monthly fee to park includes to what is referred to as a "land fee". Whispering Meadows is a co-op park. The residents purchased the property in 2005 and each was charged a share fee of $28,000 and each resident actually owns a share of the land. Residents were able to finance this amount and it came out to approximately $190-$250/month in some cases (equating to the approx. $390/month another post has mentioned). Other residents have paid this land fee off in full and pay only the current park fee of $200/month. If you are interesting in purchasing a home here it is important to research how much of the land fee has been paid, what the balance is, if you would be eligible to assume the remaining financing if any, etc. etc. If you would like Buyer representation at no charge for a purchase here or anywhere else in the are please feel free to call or email anytime. There is currently for sale a 2 bedroom 1 bath unit listed for $51,900 and a larger 2 bedroom 2 bath for $84,900.

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0 votes Thank Flag Link Tue Jan 29, 2013
Margaret - in performing some research, it appears the association fee is $390. Should you decide you need additional assistance or have any further questions about buying property in the Peabody area, please don't hesitate to reach out to me directly. My email is lucianoleone@yahoo.com, my direct line is 617-905-8359, and if you'd like to check out our website, go to http://www.NorthShoreHomeInfo.com. Talk to you soon, thanks!
0 votes Thank Flag Link Tue Jan 29, 2013
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