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Hudson : Real Estate Advice

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  • Home Buying11
  • Home Selling3
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Activity 22
Me, Home Buyer in Framingham, MA
Sat Feb 20, 2016
Me asked:
House Hunter, Home Buyer in Fort Worth, TX
Fri Nov 15, 2013
House Hunter answered:
I am in Texas and I am currently looking at buying a house, that we just found that the in-ground pool may have been partially built into a utility easement. #1 shouldn't this be disclosed on the Seller's Disclosure and #2 should we walk away from this sale? We are concerned that this could potentially be an issue if the utlity company needed to do work in the easement and what problems do we face down the road when selling ? Will a mortgage company even approve a loan on this house?

Any feedback would be appreciated.
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0 votes 21 answers Share Flag
mooragemarke…, Both Buyer and Seller in 98122
Mon Nov 11, 2013
mooragemarket.com answered:
Moorage Market, www.mooragemarket.com, is the only boater-to-boater boat moorage rental site where you can rent a dock directly from the owner easily and securely. Check it out at www.mooragemarket.com ... more
0 votes 3 answers Share Flag
Marilyn Mess…, Real Estate Pro in Concord, MA
Tue Jan 29, 2013
Marilyn Messenger answered:
If you are planning to buy the property and are getting a mortgage, most lenders will not give you a mortgage on a property that is in litigation, so you will either have to wait, and these things can go on for a long time and another owner may bring it up later on, or you can move on to another property. Any time you have shared situation, there can be an issue. ... more
0 votes 6 answers Share Flag
Mary Menard, Real Estate Pro in Morristown, NJ
Tue Jan 29, 2013
Mary Menard answered:
An agent can change the status in the mls as soon as the closing has occurred. It should be done immediately.
0 votes 11 answers Share Flag
joe, Home Buyer in Hudson, MA
Sat Jan 28, 2012
joe answered:
We rented in December and the house is everything we wanted and more. Needs some tlc but it's on the right track. Happy we switched attorneys. At the end of the day, our attorney and the lazy sellers attorney (who is STILL dragging his feet, due to both personal issues and simply lax work practice), failed to read the deeds and the titles in detail. After pushing our attorney a bit, ours determined that the easement is only shared by two homes, not the 13 our previous attorney was hinting and wanted us to move on. Our attorney spoke with the title company who is not only willing to accept letters signed off by the two neighbors, but are also willing to accept our attorneys language to make it perpetual. Of course, our attorney is the one doing all the work because the sellers attorney and his personal issues (sad but still impacting the sale of the house because he isn't looking for back up) do not allow the transaction to move forward. We will know next week how the neighbors will be signing the paperwork (more than likely we will have to do it) and then we can move to closing... The seller is going to make out well because we are willing to pay our original final offer, when the comps are listed 25-35k lower, and 45% of the homes listed when this one was listed ARE STILL listed and dropped prices. We love this home! Learned a lot about poor attorneys, easements and mediocre agents in the process. Kudos to those of you who are the creme de la creme, because there are some doozies out there... (the sellers agent was more dedicated to being a dog whisperer than treating people humanely... What a process...) ... more
0 votes 5 answers Share Flag
matthew hars, Real Estate Pro in New York, NY
Fri Dec 16, 2011
matthew hars answered:
Property falls out of contract all the time. It is always good to get back up offers. I'd rather be safe than sorry.
0 votes 12 answers Share Flag
matthew hars, Real Estate Pro in New York, NY
Fri Dec 16, 2011
matthew hars answered:
Joe,
Alot of agents lie about the square footage for rentals because there is less of risk. Other times they just estimate, at least in the New York market.
0 votes 12 answers Share Flag
Heath Coker, Real Estate Pro in Falmouth, MA
Fri Dec 16, 2011
Heath Coker answered:
Anyone can contact any company.
The MLS that covers Hudson is MLSPin now called Pinergy.
MLSPin.com and click contact us.

However your first answerer is correct that MLS does not have anything to do with licenses.

MLS data that you see on non-Broker websites and non-licensee web sites, like this one (Trul ia) even, only download info and use it for advertising. They often don't have current or correct data.
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0 votes 3 answers Share Flag
Tim Page,  in 99037
Mon Nov 7, 2011
Tim Page answered:
First, each bank and each appraisal may differ by 5%. Now for your question. Assessed value is determined by the county or city in which your home is located. Many times, they will determine the value once per year. Many times they will put many homes into a "bucket" and find the value based on all of the other homes in your market area. Some of these homed may not be similar to your home. Sometimes, they will get more specific. Assessed values will usually follow market values appraised by an appraiser. That is if home values are increasing, the market value (value by the appraiser) will be more than the assessed value. When values are declining, market value will be less than the assessed value. The market value is much more accurate, but many times the assessed value and the market value will depend on the county. Some counties are spot on and some are way off. ... more
0 votes 8 answers Share Flag
Territory.c…, Real Estate Pro in MA,
Tue Nov 1, 2011
Territory.com answered:
Joe, I am so glad to hear you have a buyers agent. It wasnt clear in the original post.

Unfortunately shady tactics like this plague our industry and the reasons are 99.9% tied to dual agency which is why buyers should always hire an exclusive buyers agent ... Not an agent that calls themselves a "buyers agent" but still works for a listing firm or works on a team that takes listings, but a buyer broker who works for a company that ONLY works with buyers (Never takes listings) It will keep your interests protected throughout the entire process.

It appears the seller broker was out using this listing as a bait and switch ... Another issue that plagues the real estate industry. Agents use a good listing to lure buyers or renters in, secure them as a client and then switch them to other properties they are listing. I hope your current agent wrote a formal complaint about the agent to powers that be.

We built our company Territory.com to solve all these problems. Any time you or your friends have questions / need some advice feel free to reach out to us directly. We are experts on the buy-side and how to handle the scenarios.

We hope you have a clear to close and enjoy your new home! :)
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0 votes 11 answers Share Flag
Ron Thomas, Real Estate Pro in Fresno, CA
Sat Oct 29, 2011
Ron Thomas answered:
The potential for problems is enormous!
Nowhere in your question, do you mention YOUR Agent: You do have your own Agent, correct?
Whether you have your own agent or not; I would make an appointment with the LISTING BROKEN and have a talk. You might even threaten him with a complaint to the MLS.

Good luck and may God bless
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0 votes 2 answers Share Flag
Melissa Manc…, Real Estate Pro in Plainville, MA
Fri May 13, 2011
Melissa Mancini answered:
Hi There,

Lots of good scenarios here that I will add to.

I have run into this recently and was told the following: The lenders perspective is that about 1/3 of an acre is what is most commonly “used” on a plot of land that is not sub dividable. Therefore, anything above and beyond is considered a liability from their perspective as well as an insurer’s perspective. (And it is the bank who hires the appraiser to determine the value of a property) I know it may seem silly. Don’t shoot the messenger!

Another reason why that may be the case, is perhaps that plot of land only has a small percentage of “uplands” or usable space. The remainder of the acreage could be conservation land that is completely unusable even an owner wanted to us e it! Hope this makes sense!
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0 votes 5 answers Share Flag
Andy, Other/Just Looking in California
Sun May 8, 2011
Andy answered:
BPO is an idea killing the sellers,lenders and both listing and selling agents in SS deals. If you would like to understand why, at least you have to know the difference between value and price.

Andy
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0 votes 22 answers Share Flag
Ken Lambert,  in Exeter, NH
Mon May 17, 2010
Ken Lambert answered:
Hello Mama- Is your home listed yet?
Of course, nobody wants to give their home away.
Luckily, right now mortgage rates are still very low. They've come down the last couple weeks. That helps you, as long as they stay low.
Yes, a lot of buyers bought in the last month or 2- so you'll miss out on those.
I think it depends on the list price of the home. If its under $300k it would be easier as you have a larger pool of buyers. Especially in a tough economy where people who used to want a $450k home cannot afford that and are looking for one in the $300k's..
If you need any help, feel free to contact me. Thanks,
Ken L.
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0 votes 6 answers Share Flag
Tom and Joan…, Real Estate Pro in Boston, MA
Sun Apr 18, 2010
Tom and Joanne Team answered:
Mama:

If you have updated everything else then I would take the time and money to update it now. The problem with not doing the work is that the buyers will have quotes that are high produced and it will cost your more in the long run. If you don't have the money then that is a different story, but I recommend consulting your Realtor and coming up with a game plan.

I live near Hudson so feel free to contact me if you would like to discuss further.
Best
... more
0 votes 12 answers Share Flag
AveWestGlobal, Real Estate Pro in Littleton, CO
Sat Nov 14, 2009
AveWestGlobal answered:
Yes you can double your rent if you furnish your property - to learn more about managing the property and to find the right tenants go to Corporate Housing by Owner and also take a look at the blog for furnishing tips ... more
0 votes 3 answers Share Flag
Christopher…, Real Estate Pro in Woburn, MA
Fri Aug 28, 2009
Christopher Lawton answered:
I would add an extra 50 to 100, its not like its Brookline! Is it near a commuter rail?Would the association allow you to rent the space indivigually?
0 votes 2 answers Share Flag
Susan Costa,  in Westport, MA
Wed May 20, 2009
Susan Costa answered:
You cannot go buy what the assessed price is in todays market. If the house is in the condition that you say, I can tell you that such properties go fast. There are quite a few buyers out there toda.

You can make an offer two ways - contact an agent and use them as a buyers agent (they do all the work and it cost you nothing - they are paid from a split on the commission) You will need to get prequalified if you have not done this already. It just takes a phone call.

Or - you can contact the listing agent and make the offer directly to them. Just note - they represent the seller.
... more
0 votes 6 answers Share Flag
Ken Lambert,  in Exeter, NH
Mon May 18, 2009
Ken Lambert answered:
Hi Mama- These days most residential contractors are dying for work. You could get it done pretty cheaply by shopping around and trying to negotiate a bit. May be less that you think. I would say it is worth it; there is just too much inventory out there to compete with. Unless you really want to unload it quick in a "firesale" . Just because an appraiser gave it a $270K value doesn't mean a buyer (now) will pay you $270K for it; you never really know. A lot of that is timing and luck too. If you have any questions, please give me a call. Thanks and good luck,
Ken L.
... more
0 votes 3 answers Share Flag
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