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Home Buying in Needham : Real Estate Advice

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  • Local Info5
  • Home Buying16
  • Home Selling0
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Activity 23
Wed May 11, 2016
Tammy Luzar answered:
Yes. Essentially, they've broken the contract. It's now voidable (meaning you have the power to void the contract if you choose). Talk to your realtor and to title, but you should be safe. At least that's how it works in Texas. ... more
0 votes 12 answers Share Flag
Fri Mar 20, 2015
Century21 Commonwealth answered:
I have been in such situation. The attorney can hold portion of settlement amount to seller until the agreed repairs are done. Or if buyer is agreed (which in most cases seller will love too), seller will pay estimated amount to the buyer to get the repairs done. ... more
0 votes 16 answers Share Flag
Fri Mar 20, 2015
Century21 Commonwealth answered:
This is not uncommon. It shouldn't matter as long as you compare the fee with similar condo's around and if condo fund is in good health.
Personally, unless I really love the place I will not prefer to have utilities included in the condo fee. People usually misuse the energy and water .. and sometime the responsible owner's have to pay the price. ... more
0 votes 9 answers Share Flag
Fri Mar 20, 2015
Century21 Commonwealth answered:
It was an interesting thread to read. Negotiation is an art and communication with your client is a responsibility. Hope you finally got the house you really wanted.
-Sanjeev
http://dreamhomes.goalki.com ... more
0 votes 10 answers Share Flag
Mon Jan 26, 2015
Al Roppolo answered:
Hi Patricia
Yes please be very aware of scams. Feel free to contact me and I can let you know whats available in that area (Al from michael haikal real estate / 508-326-2697 / www.SearchSouthofBostonHomes.com) ... more
0 votes 3 answers Share Flag
Mon Jan 13, 2014
Bill Paulson answered:
If the work to be done was specified in the P&S and there is language in there that allows you to back out based on a walk through / re-inspection then you should be ok. You definitely want to have a lawyer look at the paperwork. Here in Needham, Scott Taylor at Kriss Law is excellent. Good luck! ... more
0 votes 7 answers Share Flag
Mon Oct 28, 2013
Territory.com answered:
Did the attorney's come to an agreement prior to close? A hold back? Something in writing?
If none of the above your leverage/rights might be limited but certainly worth a call to your attorney for some guidance.


Good luck!

Territory Real Estate
Massachusetts #1 Brokerage for Home Buyer's
617 848 5407 ext 704
... more
0 votes 8 answers Share Flag
Thu Sep 12, 2013
John Zadroga answered:
I would be glad to assist you. Let me know what are you looking for in a condo?
0 votes 5 answers Share Flag
Mon Apr 22, 2013
Heath Coker answered:
Hi Chris.
Did you contact the listing professional?

I would contact the local real estate professional to help with this answer and to save time and money.
(I'm on the Cape, but I can help you find the local pro if you want help doing so.)


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0 votes 2 answers Share Flag
Sat Apr 13, 2013
Sandy Tobin answered:
Is that what they do in Wellesley, Mindy? I'm not sure if that's the case in Needham.
0 votes 6 answers Share Flag
Mon Feb 25, 2013
Heath Coker answered:
Asivaraman,

Ask your attorney if your contingencies protect you.
The words/terms of the contingency may have included some interest rate clauses.
You may also need to apply to another lender.


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1 vote 4 answers Share Flag
Tue Jan 29, 2013
Heath Coker answered:
I would contact a local lending professional to help with this answer.
There is not enough detail in your question.

I know this guy can be helpful: rtranchell@totalmortgage.com
Bob Tranchell Total Mortgage Services LLC (508) 367-5731 cell


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0 votes 3 answers Share Flag
Mon Aug 13, 2012
Territory.com answered:
http://www.needhamma.gov/index.aspx?NID=192

The 2012 residential property rate is $10.95 per $1,000 of assessed value

In that price range you are talking anywhere from $9,000-10,000

Here is every property on the market for sale in Needham:
http://www.territory.com/search?search_string=NEEDHAM&min_price=%240&max_price=%240&property_type[]=SF&property_type[]=CC&property_type[]=MF&property_type[]=LD&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=

Territory.com
Massachusetts Premier Buyer Brokerage
... more
0 votes 5 answers Share Flag
Mon Aug 29, 2011
Mikel DeFrancesco answered:
The home is an estate and the deal must be presented and approved by a judge to proceed. In this market not many judges would gum up the works, but it is another step that can add a few weeks to the deal. ... more
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Tue Jun 21, 2011
Kevin O answered:
0 votes 5 answers Share Flag
Mon Jan 31, 2011
Sandy Tobin answered:
Unfortunately, some bank appraisals are coming in under the agreed upon sale price. New laws that took effect last year require lenders to choose appraisers from a pool, rather than rely on companies they have worked with exclusively for years. This is designed to keep the appraisers and lending institutions at arms length. Unfortunately this has caused some problems in the real estate industry as appraisers unfamiliar with different markets attempt to put a fair market value on a house when they are unfamiliar with the local inventory. Just as you would want to choose a Realtor who knows your local market, it stands to reason you would prefer to see an appraiser who knows your local market show up at your door.

Buyers definitely look to assessed values when attempting to determine a fair price for a property. Assessed values are generally lower than market value, but the assessed value is a good indicator as to whether a property is reasonably priced. If a house is priced 40 percent higher than assessed value, or more, the seller should have a very good reason for the difference. Perhaps renovations are not reflected in the assessment, etc. If you are considering selling your home any time soon and you want to get the best possible price, I would not recommend you get your home reassessed downward since buyers will be looking at that number when you house hits the market.

Sandy Balzer Tobin, ABR
Accredited Buyer Representative
Coldwell Banker Residential Brokerage
Sandy.Tobin@nemoves.com
... more
0 votes 5 answers Share Flag
Sun Mar 14, 2010
Bill Kuhlman answered:
Hi-

I know you asked the question some time ago, but I wanted to add my two cents about using median sale price to show appreciation and depreciation.

It's long been the standard in the industry, and it's one useful data point that's best at showing longterm growth or decline. However, I think using it to definitively illustrate values in less than five-year or ten-year aggregates can be misleading.

For instance, many cities and towns in Eastern Massachusetts show a decline in value over the past year in median sale price even though we've seen price increases in certain types of homes in many communities since 2008. But, since the median price tells you the point at which there were an equal number of sales above and below that price, it can be skewed by small sample sizes or when one type of property is hotter than another.

In 2009, we had the First-time Homebuyer Tax Credit, which, unlike its predecessor, did not have to be repaid over time. This brought out more first-time buyers---which is always the real engine in any real estate market---in record percentages. In fact, nationally, 49 percent of all home sales last year were sold to first-timers, a record. Since homes bought by first-timers tend to be significantly less expensive than trade-up or luxury homes, and since sales of more expensive homes haven't been as strong the past couple of years, this can result in a median price that can be misleading.

If you take a type of home, say all 1,500--2,000-s.f, three-bedroom, two-bath homes and compare sale prices in each of the past three years, you'll likely see appreciation in most cities and towns in Eastern, Mass. But you'll see a mix of appreciation and depreciation in those towns when they include every type of home.

Even in the numbers Mary was kind enough to research and report, below, it looks like an up-and-down ride since 2005, including an approximate 9-percent drop between 2008 and 2009. But, except for the occasional desperate seller or distressed property, I guarantee you would have paid more for a starter home in Needham in any given month in 2009 than you would have in the same month of 2008.

Again, the industry has used median price as the measuring stick for decades, and it's useful as a quick, easy-to-digest snapshot of what's going on. But if you want a fuller picture, look at specific types of homes, year over year.

You can look at a resource like the Case-Schiller Index, which looks at this very type of thing. It can be pricey, but I think it gives you a much better measure of home values.

Good luck!

Bill Kuhlman, CRS, green
GRI, ABR, CBR, ASR, C-CREC, SRES, RECS
Kuhlman Residential Real Estate
2007-2008, 2010 President of the Board of Directors for
The Massachusetts Association of Buyer Agents
2010 President-Elect of the Board of Directors for
The Mass. Chapter, Council of Residential Specialists (CRS)
781 444-1399 (phone)
www.BillKuhlman.com
... more
0 votes 7 answers Share Flag
Tue Feb 23, 2010
Julie answered:
Usually the type of financing does not matter to the seller, as long as it goes through and gets approved. That does not seem right if they signed the offer, and the attorney had the purchase and sales agreement ready for you. Sounds fishy! ... more
0 votes 6 answers Share Flag
Tue Feb 9, 2010
Mathew Roth answered:
Is there a Breen Street in Needham, MA??
0 votes 2 answers Share Flag
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