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Home Buying in Watertown : Real Estate Advice

  • All67
  • Local Info5
  • Home Buying19
  • Home Selling1
  • Market Conditions4

Activity 18
Tue May 17, 2016
Lonnie Bailey answered:
As a first time buyer I just ran into a problem because my agent couldn't be there for the inspection, and the inspection ended up being incomplete. Now we have a situation where we have to get another inspection because the agent was not on site to contact the the sellers agent to ensure we had access to all areas of the home. My agent recommended this inspector, and now I feel they are responsible for not being there and recommending someone that didn't stick around and wait for access to this one area of the home because the agent wasn't there. I don't think this would have been a problem if my agent as there. ... more
0 votes 27 answers Share Flag
Wed Oct 14, 2015
Doug McNeilly answered:
The market in Watertown is very active at the moment, but location and condition still very much matter. Over the past 5 years the median sales price for a single family home increase in value from $432,500 to $588,250. The average sales price increased from $465,676 to $609,769. ... more
0 votes 1 answer Share Flag
Tue Jul 22, 2014
Michael Savas answered:
Hi Ninad, I would be happy to help answer any questions that you might have about homes near St patricks Cemetery. You might be interested to know that there have been a number of recent sales and new construction recently in that neighborhood that I would be more than happy to review and share with you. Feel free to email me at MichaelS@c21adams.com
Best, Mike
... more
0 votes 1 answer Share Flag
Thu Feb 6, 2014
John Stewart answered:
I am currently dealing with two bedroom condos in Watertown that are in the mid 300's. It could be a little more than 400 but I would love the chance to work for you at finding something. ... more
0 votes 3 answers Share Flag
Mon Jul 29, 2013
Martha Sesin answered:
Hi Mark, there are a few nice options for seniors in the area. Having received the Community Spirit Award in Watertown and being a local resident, I'm more than happy to share the info. With you along with some free, fun programs that are available to you. Please feel free to contact me. ... more
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Sun Jun 2, 2013
naz.firouzbakht answered:
I think the Repton Place condos where over priced when they first came on the market and the buyers still can not recover. However those who are selling right now seem to be more reasonable and there could be a room for negotiation. I think if you are looking to buy to spend the money on mortgage payment rather than rent, it is a good idea specially if you have a car. There are couple of other new developments on Pleasant Street which are available for rent right now, but in couple of years the developer will convert the apartments to condos and sell them for high price. You should purchase your condo at Repton Place before that to make a good profit, because the sold price of those condos will increase the prices at Repton Place.

Since there are individual unit owners who put their apartments on the market for rent, you see unreasonable pricing for studios and one bedrooms, both for the same price ($1600/month).
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0 votes 10 answers Share Flag
Mon Mar 19, 2012
Territory.com answered:
In the last year 149 condo's sold with a median price of $326,750
The year prior 188 condo's sold with a median price of $320,000

So it appears the transactions might have been lower this year but the median price remained the same / slightly increased. Right now there are 57 condo's on the market. Overall it seems to be a perfectly fine market to buy into plus the interest rates are low so perhaps you can get yourself a nice deal.

Here is every property on the market in Watertown:
http://goo.gl/ayXhz

Good luck!
http://territory.com/
... more
0 votes 12 answers Share Flag
Mon Jan 3, 2011
Tim answered:
Bayou,

Search the web and you will find some great reverse prospecting success stories, with Laurie Manny's being among the best. If you know what the buyer wants, and the buyer is serious, it is worth a shot at awakeing the sleeping giant and finding that seller that may be on the fence about selling in this market.

Check out UTerms as a reverse prospecting reference.
... more
0 votes 7 answers Share Flag
Thu Dec 23, 2010
Tory Keith answered:
Prices, especially in the Boston area do seem to have stabilized somewhat. If the condo is fairly priced and you plan on staying there a while, it would probably be a good investment, especially as a first time buyer. I have a recent blog post on this topic and would be happy to help further. ... more
0 votes 7 answers Share Flag
Tue Nov 9, 2010
... answered:
Involving both an agent and an attorney on your behalf are both great suggestions. Some agents may likely wonder if you've contacted anyone about the home as that may exclude them for receiving compensation in their normal fashion but your flat rate idea may work with some. I can recommend both an attorney (who is a former Realtor and does moslty real estate) as well as a buyer broker from Watertown if you wish.

Tom
Thomas.Stevens@flagstar.com
... more
0 votes 18 answers Share Flag
Mon Oct 4, 2010
Louis Wolfson answered:
Ginger, I am happy to represent you in purchasing your home. As to fee it is typically offered by the the seller as a buyers broker fee, so it would not cost you anything additional. I am also happy to set a fee at a reduced amount as well. I am happy to discuss your options and meet with you to view the home today. ... more
0 votes 3 answers Share Flag
Sat Jun 26, 2010
Heidi Zizza answered:
You need to be registered to have saved searches save!
0 votes 3 answers Share Flag
Wed May 19, 2010
Helene Whittaker answered:
Hi, Hope you have found not only your agent by now, but your home as well. If not, I am an agent and would be happy to meet with you to explain buyer agency in MA. .
0 votes 4 answers Share Flag
Fri Aug 29, 2008
answered:
6.25%, and conventional would be better, as FHA will have PMI even with 20% down.

I would love to help. Email me!

martytheloanofficer@gmx.us

marty

I am online now!
0 votes 7 answers Share Flag
Fri Jun 20, 2008
Territory.com answered:
Great answer, Don. The reality is what puts a value on real estate is what buyers are willing to pay for the property. Sometimes you can pull comps/sold data until you are blue in the face but because of a particular variable (busy street) buyers may not even consider it (especially in a down market) and the final purchase price may not be anywhere near the data you pulled. ... more
0 votes 4 answers Share Flag
Tue May 20, 2008
Deborah Madey answered:
Commission payment and representation often, but do not always run parallel.

Agents are compensated as a result of bringing buyers and sellers together. The agent who showed you the home may, or may not, be entitled to collect a commission. It’s not as simple as showing you a property guarantees the agent payment. However, it does raise the question of who is entitled to payment.

You, as buyer, have the right to representation from an agent who will put your interests first.

I recommend that you find a buyer agent who you believe will put your interest first, and be completely candid with that agent about seeing this property with the other agent. This will allow your new buyer agent to amicably work out the fee arrangement with the first agent, if appropriate, and proceed in representing you in the purchase. In cases like this, it might be that the first agent really is not entitled to any compensation. Or the new buyer agent may work out an arrangement to pay a referral fee or share the commission.

If you don’t mention this to a new agent, it will most likely surface later and possibly become a challenging situation for all if the first agent attempts to claim the commission. Commission payments earned are determined by a set of rules enforced by the local association. Payment is not determined by a buyer’s preference of who they want to receive the payment. You wouldn’t want to mislead a new buyer agent into a situation where their compensation could be removed from them. Simply discuss it upfront with a new agent, and it will be out of the way.

Your options at this time are:
1) Use the buyer agent who originally showed you the property. Not recommended if you do not believe this person is properly representing you.
2) Buy from the sellers agent and not be represented. Not recommended. You won’t save any money and will be working with a representative who has the sellers best interest.
3) Buy from the sellers agent who is acting as a dual agent. Not recommended. How does one serve two masters?
4) Hire a new buyer agent. Recommended. Also, it is recommended to be disclose the past history.

Good Luck
Deborah Madey - Broker
Peninsula Realty Group - New Jersey
... more
0 votes 11 answers Share Flag
Thu May 15, 2008
Louis King Real Estate answered:
I am interested in your opinions on all three questions and whether you think it's a good long term investment at this place.
_________________________________________________________________________

In addition to the fact that you may be competing with 100 new units when you sell yours, the other issue is the association.

An old established condo association has a management track record you can look at. "The Village" in Watertown for example has been around since the 1970s. It's well managed. The price per sq. foot is less than Repton Pl. However, "The Village" units typically have 1 bath and older fixtures.

The location of Repton Place on Pleasant St. is or was commercial. Even now, it's a busy street. Have you considered what the traffic will be like on Pleasant St. once Repton is fully occuppied? Have you compared Repton with other high rise condos like 50 Watertown St. or 131-151 Coolidge Ave.?

50 Watertown St. has quick access to the Mass Pike, close to the park along the Charles River, and close to the express bus to Boston. The Coolidge Ave. condos are close to Cambridge and the ones facing Boston have that great view.

However, Repton is new construction. The others are not.
... more
0 votes 5 answers Share Flag
Sun Nov 11, 2007
Jon Ernest answered:
I would say continue as though you were going to purchase a property, and make the lease to own part of the offer. If this was a super hot market, it would be a little more difficult. However it's not that kind of market now. Sellers are trying to do creative things to sell their house, and if it releases them from their burden (i.e. covers their cost), they'll probably be pretty darn open to the idea. But make sure you consult/hire a real estate attorney (who has experience with lease to owns) who can fill you in on the intricacies and standards for the area for a lease to own. ... more
0 votes 1 answer Share Flag
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