Condo fees are not negotiable. They are set by the condo association and are calculated by the percentage share of each unit in relation to the total area of the building. The costs vary from building to building and unit to unit. The cost will depend on what's included - water/sewer charges, master insurance, any landscaping or snow removal, cleaning of common areas, building maintenance, parking, professional management, etc. Some condo fees even include heat/hot water.
When you are shopping for your new home, make sure to ask the listing agent what the condo fee includes, then you can properly calculate any additional monthly costs into your budget that aren't covered.... more
Nobody unless you get an accepted offer and go to closing.
As to which agent will get compensated it could be both and you could be liable.
As Scott asked did you have a buyer agent agreement with the first agent? Do you have a buyer agency agreement with the second agent?
If the answer is yes I had one with the 1st agent and they did not break the chain of events then they will be considered the procurring cause and if you made the offer and had a buyer agency agreement with the second agent depending on the language in the agreement you could be liable to pay their fee as well.
If you did not have a buyer agency agreement with the 1st agent and they did not break the chain of events they still could be considered the procurring cause, but they would have to go thru arbitration with the other agent and depending on your contract with your new agent you could still be liable.
If you had or did not have a buyer agency contract with the 1st agent and they broke the chain of events, ie: did not stay in touch with you, did not inform you of a price drop etc, then the second agent would be the procurring cause.
Best to read your contracts with either agent and see what if any your exposure could be, if any, and if your still unsure hopefully your agent can answer it for you.
Good luck
Louis... more
You might ask this question of the tax assessor.
As for finding a vacant lot to build on in Somerville, you will be better off using an experienced local real estate professional.
Look for signs with the names of professionals who list and sell in the area where you want to build.
(Please note: when you choose an answer as a Best Answer, or at least give a thumbs up, it helps those who answer questions here.)... more
I would contact a local real estate professional to help with this answer.
Also,
Drive around and meet people.
Ask those who live there.
Walk and talk.
(Please note: when you choose an answer as a Best Answer, or at least give a thumbs up, it helps those who answer questions here.)... more
The very long-term investment in property near transit lines is a solid strategy; however, the short-term gains are not likely. Let me give you a little history on this: The Davis Square and Porter Square subway stops were under construction for a tediously long time, just like other MBTA projects. It opened in the mid-1980s. Prices flew up in the boom that ended around 1989, when there was a hard bubble break. Prices did not boom again until the next inflationary bubble. That was the mid to late 1990s. Since then, the Davis/Porter area has been more expensive than similarly built properties farther from the Red Line. However, it took about 10 years after completion of the stops to really see the property price inflation in a steady way. People who bought in the late 1970s in anticipation of the Red Line had to wait a long time. Sound familiar?
I’ve been answering questions about the anticipated Green Line extension for a long time. Attached is a blog entry from 2009. My prediction then was not too far off.
Another thing is that the Red Line is currently the only subway line in town, serving a small percentage of the city of Somerville. The Green line will add to the pool of available housing that is near a subway line. That makes property on all the subway lines not be as unique (and valuable) as when there was only the Red Line and the properties near it. (Demand gets diluted when there is more supply.) This could be a factor by 2020 or so.
My general advice on purchasing is to buy what you will love to live in for the next 10 years. If you see appreciation before then, you are lucky. If you don't, you still have a great place to live. If the passing trains are something you won't like in the future, you may want to look for a nicely renovated space a short walk from a proposed Green Line stop.... more
Hello Bauerfoto,
Agents DO NOT POST HOME FOR SALE DATA ON TRULIA.
Trulia receives this data from ListHub. The data displayed is altered, changed, substituted or suppressed to suit the purposes of ListHub and Trulia. The real estate agent HAS NO INVOLVEMENT.
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Some people, including agents, believe the data is received from the local MLS. IT IS NOT.
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REPEAT.
Real Estate professionals are NOT responsible for the data appearing on aggregate websites such as Truila. If you have grown weary of chasing the illusion of homes for sale or the vapors of home sold long ago, you will need to graduate from entertainment websites to the resources that are beneficial to serious home buyers.
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If you are a serious home buyer you will be working with a Realtor (r) who has provided you direct access to the LOCAL MLS which is the only source of accurate, reliable, timely, comprehensive data.
Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us... more
Hello Kevin:
Your property has a lot of things going for it. Your upgrades look great, the yard and garden are lovely, and you are at the top of Moreland near Main Street (very important in this part of town). I would be very excited to be one of your agent candidates and would welcome the opportunity to come by and view the property personally. Your assessments vis a vis development potential are right on, as this spot may well draw a developer who will put two or three units in.
There are a couple of ways to proceed and I would like to go over them with you...market to developers now and/or wait until the Spring and sell to the entire market. Feel free to give me a call.
Somerville is my market....my office is on Highland Ave and I've serviced Somerville consumers for a dozen years. I live on Albion Street.
Hope to hear from you soon....
--
Damian Musello
Broker
GreenHome Realty, LLC
327 Highland Avenue, Somerville, MA 02144
Email: GreenHomeRealty@gmail.com
Phone: 617-650-6480
Member of the Multiple Listing Service; Massachusetts Licensed Broker; HomeGain Top Producer and Gold Club® Member; Certified Buyer Representative; Certified Negotiation Specialist; Certified Title Examiner.
We donate a portion of all our profits to environmental organizations.... more
depends on the type of home business you are planning. All communities allow you to have home business and it usually spelled out in the town building by-laws what types are allowed. Under the Somerville by-laws this is what is allowed under a home buisness. Any other questions should be addressed with the towns zoning administrator and or your attorney.
"2.2.69. Home Occupation. An activity customarily carried on inside a dwelling unit, and conforming to the following requirements:
1.
Only the residents of the dwelling unit shall conduct the home occupation.
2.
The home occupation shall require only customary home equipment.
3.
The use, including storage of materials or products, shall be carried on strictly within an enclosed building.
4.
There shall be no exterior structural alterations that are not customary with residential buildings, excluding signs as provided for in Article 12
5.
The production of offensive noise, vibration, smoke, dust or other particulate matter, heat, humidity, glare, or other objectionable effects shall be prohibited.
6.
The home occupation would not be expected to have more than one (1) visitor car at any given time.
A home occupation shall include, but is not limited to: the studio of a visual artist, craftsperson, musician or other performing artist, photographer, or writer; the teaching of not more than four (4) pupils simultaneously; work of a domestic nature, such as dressmaking, millinery, or preparing food for sale; and the office of an architect, landscape architect, engineer, attorney, sales representative, computer software developer, typist, or word processor where clients generally do not visit the premises to transact business.
Notwithstanding the above definition, the following uses shall not be considered a home occupation: auto or appliance repair; contractor's shop or storage; barber shops; beauty parlors; real estate or insurance offices; commercial stables or kennels; an office within a primary residence of a physician, dentist or other recognized medical profession; body art establishment."... more
There is no straight answer without doing a property CMA on the unit. Depends on many factors: condition, days on market, sales in the building and surrounding streets, etc. Understand that a property can be listed for $450K and be over priced significantly or be priced under value but the only way to determine that is through a good valuation using sold data.
Here are some general stat's for all Somerville condo's that have sold in the last 6 months:
Condominium Listings: 305
Avg. Liv.Area SqFt: 1,179.35
Avg. List$: $412,079
Avg. List$/SqFt: $362
Avg. DOM: 59.67
Avg. Sale$: $408,473
Avg. Sale$/SqFt: $359
Get yourself an exclusive buyers agent (NOT the agent who is listing the property) and they will guide you through the entire process including value.
More stat's where the above came from:
Territory.com
Massachusetts Premier Buyer Brokerage
HomeValue@Territory.com
Everything for sale in Somerville:
http://www.territory.com/search?search_string=somerville&min_price=%240&max_price=%240&property_type[]=SF&property_type[]=CC&min_beds=&max_beds=&min_baths=&max_baths=&min_living_area=&max_living_area=&min_year_built=&max_year_built=&min_days_listed=&max_days_listed=... more
You asked another question before about renovating what I think is the same place. If you can add more bedrooms to the top unit and then still renovated the kitchen you would do very well. Again, consider doing all that and condo'ng the units and reselling.
Territory.com
Massachusetts Premier Buyer Brokerage... more
You will likely benefit from the kitchen. Do you plan on condo'ng the units and selling them separately? You would make more money that way so worth considering.
Good luck!
Territory.com
Massachusetts Premier Buyer Brokerage... more
Boston magazine just had a list of top 50 schools in the Boston area. Somerville nor Medford made the Top 50. Its cheaper to buy or rent here but more expensive to send your children to school. Good luck.
Depending on age, try Newton... more
The listing agent (and for that matter the buyer's agent) should disclose anything that may have an impact on the relative value of the property.... IF they know about it.
The agents are not always privy to all every bit of information about a property.... more
I've lived near Teele my whole life. I don't know about the people in the Weston View condos but the neighbors on the streets in the family homes are very warm and look after their neighbors. Teele is a decent distance from the T walking is easy but if you prefer the bus is right outside. The burnt down building in Teele has left and unsightly hole and there are no set plans or dates yet for a new building that I know of. Davis is a good mix of new and trendy like the Foundry and old main stays like the Somerville Theater or the Buren.... more
The best (and easiest) is the MLS. I can help you with this if you would like. The MLS pulls data from all over the place and is very easy to use.
Cheers,
Bill P.
FHA will allow 85% of either market rents (determined by appraiser if unit is vacant) or 85% of actual rents. It is not specific to any lenders it is a FHA guideline. Only if you are not buying owner occupied would you have to prove renal experience to use rental income to qualify. If you have any further questions I have been lending (not a broker) on FHA loans for 18+ years, give me a call (508)989-4295.... more