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Southborough : Real Estate Advice

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  • Local Info0
  • Home Buying6
  • Home Selling0
  • Market Conditions1

Activity 15
Mon Mar 21, 2016
Jasonbwhittier asked:
I am looking into a direct loan through USDA. My credit score is a 660, income at $72,000 (with 4 kids), so I would qualify for the direct program. I also have about $10,000 in savings…
0 votes 0 Answers Share Flag
Tue Nov 24, 2015
Rbeck76 answered:
No longer available, also listined as Southborough Fayville iis a village in Southborough. Area taken over by New England Center for children. Not a family neighborhood anymore'
0 votes 1 answer Share Flag
Mon Nov 9, 2015
Doug McNeilly answered:
Without some details about the price point, size of house, location in Southborough, etc.....it is hard to give an exact answer. In the last 6 months, 77 homes sold. Average Days to Offer was 33 days. Based on that high level market statistic, houses are moving, but real estate is very local, down to neighborhood, so I would need for details about your search parameters to give a more exact answer. ... more
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Mon Feb 23, 2015
Dianne Zottoli answered:
Wed Mar 12, 2014
Nancy Butterly answered:
It's really what the buyer and seller agree to. This amount is usually somewhat above the average
rental in the area. In this market I would recommend that you talk to a lender and see if you don't
qualify for a mortgage. If you have had bankruptcy in the past there are lenders who will now
work with this. Rent to own are tricky.....at the least hire an Attorney to review any documents you
may be given by the seller to sign. Best of luck!
... more
0 votes 7 answers Share Flag
Tue Mar 11, 2014
Ray1942 asked:
What banks in Massachuetts still provide bridge loans? A bridge loan allows a loan for a person selling their home but wanting to buy another without a long term mortgage.
0 votes 0 Answers Share Flag
Thu Nov 8, 2012
Caitlyn answered:
I'm not an expert on taxes and demographics, but I have lived in Southborough my entire life. My family has lived here a very, very long time. I have also spent a lot of time in Sudbury - I had a part time job there when I was in high school and had a number of friends who lived in Sudbury, so although I'm not an expert on living in Sudbury, I do know the community to an extent. I have always loved Southborough - it's a small town, and a community. I attended the public school system from kindergarten through most of high school (I finished high school at a private school for personal/family reasons) and the school system is fantastic - education is a high point for Southborough. We don't have a bustling downtown area, but we do have one. "Main Street" features Mauro's Market (very convenient to stop by to grab milk, bread, deli meats, etc.), a pizza house, a small restaurant where you can get breakfast, lunch or dinner, a barber shop, florist, and a few other small businesses. Southborough is also home to two private schools - Fay School and St. Marks. Our library - which is located "downtown" - is one of the oldest library's in the country (serving Southborough since 1852!). I may be biased but Southborough is a beautiful town, with a lot to offer. It's also a great place to live if you are commuting pretty much anywhere for work. Access to Route 9, 495, the Mass Pike, Route 30, Route 85, etc. Sudbury is a great community as well. I consider Sudbury to be a beautiful place to live as well - the historical areas of town are absolutely gorgeous, and offer "things to do" - like spending an afternoon walking around at the Wayside Inn and the walking paths at the Gristmill (I spent a lot of time there as a child, it's a great place to take pictures!). Sudbury has a bit more "going on" in their "downtown" area - big grocery stores (Sudbury Farms [a Roche Bros supermarket] and a Shaws), they have a CVS, Radio Shack, Paper Store, a number of restaurants, Especially for Pets. As far as I know, Sudbury's school system is also good, but I never went to school there so I'm not an expert, obviously. Both Sudbury and Southborough have a Starbucks and a Dunkin Donuts, caffeine is not an issue. Southborough is also the home of Red Barn Coffee Roasters and has two locations, one on either side of Route 9. To summarize: both towns are great, and similar in some ways. Deciding between the two comes down to your preferences, what you're looking for, and what your needs are. Hopefully I haven't confused you more, I just thought it might be nice to get an answer from someone who lives in one of the towns. But as most people have answered - it does come down to what you are looking for, what is most important to you. It's not easy to choose between two fantastic communities! ... more
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Wed Oct 3, 2012
Jbpattitude answered:
I have several friends on Oak Hill, who have lived there for years and never been bothered by any noise from the Pike.
0 votes 7 answers Share Flag
Wed Oct 3, 2012
newtonfarmcoop answered:
Hi Suzanne,

Here are some nice points about Southborough, where I've resided since 1997. On the north side, you can hear the bells from St. Marks school in the distance softly chiming. The library is great, and Southborough was the one of the first free public libraries in MA, pre-dating the Boston Public library by a few months. Southborough was an official stop on the Underground Railway, assisting escaped slaves to freedom. The walk around the reservoir is great offering great views. If you like to golf, you can access St. Marks beautiful golf course right in the center of town (!). ) Southborough is at a great location to get to places quickly being at the hub of the Pike, Rte 30, and 495, while still maintaining a peaceful, small town setting. They have a Heritage Day celebration with a "climbing wall" in October, various parades during the year, and a beautiful community house which is maintained by contributions for use by the community. There is also a wonderful 56 acre conservation area at the old Beal's farm to walk through. ... more
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Thu Sep 20, 2012
Kim Chagnon answered:
My brokerage lists foreclosures and this would not be something that any of our financial instituions would entertain. They price property to sell within 30 days in as-is condition. They are not in the business of owning property and property management and they just want to sell quickly and minimize further losses.

You need to understand that by the time a property has been foreclosed on, the previous owner probably hadn't paid their mortgage in over a year (it's an average of over 500 days from the first missed payment to foreclosure), trashed the property and left the financial institution with back taxes, title issues, water bills, electric bills and the large cost of actually filing and recording the foreclosure. On top of that, they are selling the property for less than what was actually owed so the losses add up quickly. It would be an unusual for a bank to take on the repairs that you ask but on the flip side, it certainly doesn't hurt to ask. The worst they can say is no.
... more
0 votes 12 answers Share Flag
Wed Sep 5, 2012
Lisa Durant answered:
Happy to point you in the right direction or resources on where you can get this type of specific information. Email me directly at ldurant7@gmail.com if you are still in need - happy to help. Having a son with Aspergers, I know oh too well the need for the best services for our kids! ... more
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Tue Aug 2, 2011
Rachelle Knight answered:
Generally with a rent or lease-to-own home you agree to pay $XX amount each month in rent, with a specified portion of that monthly payment set aside toward the purchase of the house. You also agree to the final sale price and the term, or length of time, you will be renting. When you reach the appointed date, you make a lump or balloon payment to the seller, and take possession of the home. The money set aside from your monthly rent payment is used as a down payment on the house, and deducted from the ultimate sale price. How you actually pay is up to your circumstances- most buyers I have worked with in this situation get a traditional loan.
However, what Ron has experienced in California holds true for the parts of MA and NH that I work in- lease to own homes are few and far between. They offer a much greater risk to the seller and the buyer, risk to the home itself, and plenty of work for little compensation for an agent.
... more
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Thu Mar 24, 2011
Judy Boyle answered:
Hello Newton Neophite!

I do hope you receive some answers from NON-agents as license Real Estate Agents cannot legally "steer" prospective buyers toward or against any particular home or neighborhood.

What I can tell you is that both the Carriage Hill and Vickery Hills Active Adult Communities are very popular choices for those looking to own a home without the exterior maintenance...yet with MANY perks that bring its residents that much closer to ultimate quality of life! I have sold several units in each development so please let me know if have any specific questions.

As for the real estate market....now could not be a better time to sell....and I have the statistics to prove it!

Best of luck!!!!

Judy Boyle
RE/MAX Signature Properties
... more
0 votes 3 answers Share Flag
Thu Apr 22, 2010
Matt Heisler answered:
The current owner has the bulk of the responsibilities. Yours fall into a couple of categories:
1) What happens if he can't deliver? Permitting, Construction delays, etc: Make sure you're covered.
2) What are you buying? If it's not in your contract, or referenced somewhere, it's optional. He could decide to not do it, alter it, charge you for it, etc. It sounds obvious, but its not.
3) Understand the other units and the owners role: will he be contributing to the capital reserve while the other units sell? Is he the voting majority? Can he rent the units? Again, be clear about what his options are, and get it in writing!
... more
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Thu May 8, 2008
Angela Clark answered:
Also, what you also have to take into consideration from a sellers standpoint is the tax implications. Remember, to avoid capital gains tax (if any) the owner must have lived in the property for 3 of the last five years. Also, there MIGHT be a minimal rental amount that must be charged. Consulting a tax attorney is probably best route to go before entering into a rent to own agreement. ... more
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