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Home Buying in Shrewsbury : Real Estate Advice

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  • Local Info6
  • Home Buying14
  • Home Selling2
  • Market Conditions5

Activity 22
Mon Mar 6, 2017
SV asked:
I am trying to buy a new contruction being built by a small time builder. All the other houses were sold out even before he put them into the market and mine will be the last one.
The…
0 votes 0 Answers Share Flag
Fri May 8, 2015
Josh Barnett answered:
Wed May 6, 2015
My NC Homes Team answered:
To start Trulia isn't in real estate they are in advertising. They know absolutely nothing about real estate and have never seen a single property you see on their site. Next online estimates of value are utterly worthless and they always have been. See attached article below. Finally assessed value (what you pay property taxes on) and market value do not need to be one and the same. you can read why here. http://mynchomes.com/2012/12/26/magic-8-ball-the-value-of-online-real-estate-estimates/ ... more
0 votes 5 answers Share Flag
Fri Mar 20, 2015
Gerald Vonberger answered:
I would get as many inspections as you can on the home you're seriously considering buying. It's a lot of money to invest when you're buying a home and it makes a lot of sense to secure that investment by spending a few hundred dollars on inspections. It would be a good idea to ask the sellers to fix any issues you find in the inspections as well, like you mentioned in your list of questions. http://www.homeinspectionassoc-ma.com ... more
0 votes 14 answers Share Flag
Wed Jul 9, 2014
John Kreiss answered:
Here's a link to a web site that will get you to licensed home inspectors in the Commonwealth of Massachusetts.

http://license.reg.state.ma.us/public/hi_biz/v_list_hi.asp
0 votes 13 answers Share Flag
Wed Jul 9, 2014
John Kreiss answered:
It depends on the condo development. How many units are owner occupied? What does the Association balance sheet look like? Are their reserves growing or shrinking?

These are things that the lenders would look at to see if the property would be eligible to qualify for programs like FHA, Mass Housing, etc.

I would strongly advice contacting a lender for more information.
... more
0 votes 10 answers Share Flag
Wed Jan 22, 2014
Christine Moran Realtor & Notary answered:
rather than losing their home most people if they had any equity would sell it or refinance. If the home is worth 200,000 and they owner owes 250000 plus late fees and penalties it wouldn't be worth buying. ... more
0 votes 4 answers Share Flag
Wed Mar 20, 2013
Joanne D'Errico answered:
The Spring market looks like it is going to be a busy one. Low inventory will push the prices up just a bit. We are seeing multiple offers on some of the newer listing. Interest rates are low so if you have been watching the market I suggest you jump in and secure your home.
Please feel free to check my web site out or call me.

Joanne D'Errico
ERA Key Realty
Westborough, MA
774-696-3555
WWW.Shrewsburyhomesales.com
... more
0 votes 8 answers Share Flag
Mon Sep 10, 2012
Steve Levine answered:
Homeowners can get permits themselves for all normal repairs other than plumbing. It's interesting that you can do your own electrical work, but not install your sink, and there's actually a reason for that. In short, the worst you can do by screwing up the electrical work is blow up your own home, but if you make a plumbing mistake you can contaminate the towns water supply, so they're very strict on that.

Make sure that you ALWAYS pull a permit, because most homeowners don't and get into issues later.

Also, make sure to take into account the fact that it's almost always better to buy something that doesn't need that kind of work - especially in the lower ranges. To buy a $250k home that needs 30K in work, means that you need come come up with 30K after closing. On the other hand, to buy a $280K home that doesn't need work would be a mortgage payment only about $100 more a month, and then it's turn key and ready to go.

There are so many lovely homes for sale that you shouldn't really have to settle for something beat up.

For a list of some new listings, go to www.shrewsbury-massachusetts.com and you can check out the map based search interface.

Regards,

Steve Levine
REMAX First Choice
Shrewsbury's Top Agent since 1992
www.shrewsbury-massachusetts.com

For more great information on the Shrewsbury real estate market, click the link below and check out my free video.
... more
0 votes 14 answers Share Flag
Mon Sep 10, 2012
Steve Levine answered:
In short, there are multiple answers. If you're talking about the tower on North Quinsigamond Ave, that would be one issue...if it's Francis Gardens, that could be different.

In the end, it has nothing to do with who lives there, or whether or not it's owned by the town. Rather it has to do with whether you can see "apartment buildings" from the home. Whether they are luxury apartments or subsidized housing, less people want to live overlooking apartments, which means fewer buyers, which means lower values.

At a time when there are many choices for great homes without that issue, that's something to keep in mind.

Steve Levine
REMAX Prestige
Shrewsbury's Top Realtor since 1992
www.shrewsbury-massachusetts.com

For more information on the Shrewsbury Real Estate market, please view my free Shrewsbury Real Estate video at the link below.
... more
0 votes 6 answers Share Flag
Mon Sep 10, 2012
Steve Levine answered:
Northboro has always had that premium, as has Wesboro and Northboro. To some it was because of being closer to Boston. In other cases it was the lot sizes. There was a time many years ago that the schools were better, but that's no longer the case.

The bigger issue with Northboro has been the high taxes, and the fact that many houses don't have town sewer. Because of the tax rate, you not only pay the extra 20k for the home, but also another $100-200 possibly each month in taxes, which is the equivalent of having paid yet another $30K for the home.

Why Northboro?

Steve Levine
REMAX Prestige
For some awesome tips on local real estate, click the link below for a free video.
... more
0 votes 1 answer Share Flag
Mon Dec 5, 2011
Jeffrey Kaminski answered:
As with any real estate purchase, make sure you have the home inspected by a licensed home inspector. A good inspector knows where to look for water damage even if it was concealed. I wouldnt read too much into the fact that the bank included that clause other than that it highlights the reality that purchasing a home in as is condition has some risk. Do your homework and use a qualified inspector to mitigate that risk. ... more
0 votes 8 answers Share Flag
Mon Nov 21, 2011
Kevin Vitali answered:
The proper way to determine square footage is to measure the outside dimensions of the house. If you have two floors it would be doubled. Where it can get funky is if you own a cape and the entire second floor square footage is not all livable space. ... more
0 votes 3 answers Share Flag
Mon Sep 26, 2011
bgk answered:
Tue Sep 13, 2011
Territory.com answered:
Depends on your financing. If you are putting a small % down on the home there may restrictions on how much the seller can offer you in closing costs so check that out. The seller cares about the net so its just a numbers game for the buyer. Would you rather pay a higher price and essentially take a loan out on the closing costs (bc they are incl) or pay a lower price and have a smaller (albeit not by much) loan. Most people in this price point would rather pay the higher price since it wont change your monthly payments too much. There are so many costs associated with buying a home that people would rather save it for reno's / furniture / moving, etc. However, you need to make sure that higher number is current market value otherwise you could get a call after weeks of being under agreement saying your appraisal came in lower than your purchase price and that you cant get the loan.

Get a good buyer broker. It will save you a lot of time and money.
... more
0 votes 5 answers Share Flag
Sun Sep 4, 2011
Louis Wolfson answered:
Here are all the homes in Shrewsbury that come up when one puts in the term in-law. Let me know if you want specific info on any of them.

71251126x19 ACT 14 Power Ave Shrewsbury, MA 7 4 2/0 Cape 2 Attached 6/20/2011 76 $209,000

71256472x30 ACT 49 Janet Cir Shrewsbury, MA 8 4 2/0 Ranch 1 Carport 7/2/2011 64 $254,900

71221295x21 ACT 73 Main Blvd. Shrewsbury, MA 7 3 1/0 Ranch 1 Under 4/25/2011 132 $279,900

71258359x30 ACT 45 Roman Drive Shrewsbury, MA 8 4 3/0 Colonial 2 Attached 6/18/2011 391 $375,000

71180680x26 PCG 272 Oak St Shrewsbury, MA 11 5 3/0 Cape 0 -- 1/20/2011 227 $380,000

71280256x29 ACT 208 North St Shrewsbury, MA 10 4 3/1 Cape 1 Attached 8/27/2011 8 $419,900

71097036x30 ACT 661 Main Street Shrewsbury, MA 12 5 3/1 Colonial 3 Detached 6/16/2010 445 $749,900

71198066x29 ACT 26 Coachman Ridge Rd Shrewsbury, MA 12 6 4/1 Other (See Remarks) 3 Attached 3/10/2011 178 $1,350,000
... more
1 vote 6 answers Share Flag
Mon Aug 29, 2011
bgk answered:
"If you think you are paying too much don't buy it"

Pure Brilliance !!
1 vote 10 answers Share Flag
Sun May 1, 2011
Elizabeth Herbert answered:
Do some research on neighborhoods at www.city-data.com to find an area that meets your requirements as Realtors are not allowed to recommend neighborhoods to people (it's called "steering").

If I can be of any further assistance I can be reached at elizabeth@elizabethherbert.com
... more
0 votes 1 answer Share Flag
Mon Jan 3, 2011
Fales answered:
I would vote Shrewsbury

Most people locate to WB for the public schools. However recently WB schools have been slipping. Fales is now dreadfully over crowded. Multiple families in my neighborhood who started there kids in WB public schools have switched to Bancroft by the time they reached high school. The tax base in WB is being crushed by the increasing cost of maintaining the school system, that in my opinion is not run in cost effective manner.

Shrewsbury will have a stronger tax base over the coming years because of the large commercial sector, including rt 9 businesses. Shrewsbury also has a downtown with more life and Dean Park. WB literally does not have any park system other than the trails around the bodies of water in town. Schools in SB have improved and have nearly closed the gap between themselves and WB, NB, etc.
... more
0 votes 3 answers Share Flag
Sat Jul 10, 2010
Matt Heisler answered:
It really depends on your loan "program". There are many variables. Also, it depends on how much you borrow, what day of the month you purchase the home, how much you pay for title insurance, etc.

You know your situation, call a mortgage broker, find a program that works for you, and have a Good Faith Estimate drawn up. That will help you very much with what you need to know.
... more
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