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Home Buying in 01960 : Real Estate Advice

  • All23
  • Local Info1
  • Home Buying12
  • Home Selling5
  • Market Conditions0

Activity 15
Tue Feb 26, 2013
Luciano Leone answered:
Margaret - in performing some research, it appears the association fee is $390. Should you decide you need additional assistance or have any further questions about buying property in the Peabody area, please don't hesitate to reach out to me directly. My email is, my direct line is 617-905-8359, and if you'd like to check out our website, go to Talk to you soon, thanks! ... more
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Thu Mar 21, 2013
Robin ODonnell answered:
It would depend on the underwriter for the lender as to whether it would be a problem or not. Some lenders will ask for 12 months records of payments and others may not. If you can I would start paying your rent by check to establish the payment history. This way you have your history of payment.
If you have a local lender or bank that you work with you should ask this question of them. They are the experts and could provide you with accurate information.
... more
0 votes 6 answers Share Flag
Tue Jul 31, 2012
Ron Thomas answered:
If you have a lot of CASH sitting around; Okay!

But if you increase your Income to Debt ratio; yes, you will hurt yourself.
We tell Clients to not buy anything on time until after Closing.
We also want you to cut back on Pizzas and eating out, and put every penny you can into Savings.
Do you want the house, or not?
... more
0 votes 9 answers Share Flag
Sat Jul 21, 2012
Heather LoRe - Available Now! answered:
Hello Diana,

For a budget of $99,000, you can find several options for your new home, including 2 bedroom condos in Peabody or the surrounding area. Condo prices are very low and buying will only require $3,500 down in your price range, which is usually about the same amount down you need for an apartment if you have to pay first, last and security. In addition, your monthly payment, including mortgage, interest, taxes, condo fee and condo insurance is usually less than your rent per month. You do get to deduct the interest you pay on your mortgage off your taxes at the end of the year and get some of that money back.

Your very first step is to get pre-approved for a mortgage. You can pick from the multitude of lenders available, banks, mortgage companies and more, to know if you can purchase rather than rent.

Once you do that, your next step is to pick a realtor who can help you find what you are looking for that is within your price range.


Heather LoRe, Realtor
Century 21 Spindler & O'Neil
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Fri Jun 29, 2012
Wen Farina answered:
Send us your email address at we'll reply with the full report
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Thu Jun 7, 2012
Richard Shapiro answered:
I don't think it would be considered contaminated. A failed system is typically functioning but may be too small, a cess pool, too close to the well source, or in need of a pipe or tank repair. I would suggest speaking to a septic repair company. I would also say that time and money is neede to repair a system and if this is bank owned you may want to avoid the home unless you are buying the house with cash. ... more
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Sat Nov 9, 2013
Mike Sullivan answered:
Wanda...your Dad can sell you the house for whatever he wishes. You would need to get a mortgage in that amount, there would be closing costs involved in this transaction, however. You may want to see if the mortgage is assumable (some are) in which case you would take over the payments.....the mortgage company would know this. ... more
0 votes 8 answers Share Flag
Wed Feb 16, 2011
Dan Tabit answered:
Hi, Start by calling some of the big companies, Allstate, State Farm, Gieco and get quotes from them. They will need an address, or at lease city you'll be buying in, value of personal possessions, any special items; i.e. guns, jewelry, collectables etc.
Agents at these companies will give you a good overview and sales pitch for their company. Set some boundaries as to what you want, low, med, or high deductable.
Before you purchase a policy, speak to a local insurance broker who represents multiple companies to see if a local company may be more competitive.
I hope this helps get you started.
... more
0 votes 5 answers Share Flag
Wed Mar 31, 2010
Anna M Brocco answered:
Yes, it's possible to get a loan-- however they do look at your credit activity for past year--also see links for additional information.
0 votes 4 answers Share Flag
Tue Jul 21, 2015
Jeffrey Carter answered:
Hello SPL35,

I know that area well. Kosciusko Street isn't known for flooding. However, If the surrounding grounds aren't pitched right or the gutters are damaged/missing that could bring water into the house. Your best bet is to consult a Buyer's Agent. This agent represents your best interests and will look into the water issue and any other issues that may be of concern.

If you have any other questions, feel free to contact me.


Jeff Carter
978 717 9015
... more
0 votes 7 answers Share Flag
Mon Feb 8, 2010
Ken Lambert answered:
Hi Max- I'm not sure, but I work with a RE broker who works based out of Lynnfield. I'd be happy to put you in touch with her if you'd like. She probably has some local insight for you. Thanks, and good luck,

Ken L.
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Mon Jun 29, 2009
Michael Giles answered:
Hi Morgan,
It's always dificult answering the status of a school system because everyone has their own idea of what constitutes "acceptable" I can tell you that as a City, Peabody is run very well. They have huge revenues from Commercial taxex (Centennial Park and The North Shore Mall) and by owning the Municiple Light Plant. This makes it easier to keep the taxes low while still funding the needs of the City. I was the listing agent on a condo in Peabody that was purchased last month by a woman that was a Pricipal in the Swampscott School System because she wanted to keep her child in the Peabody Schools. This link may help with your research ... more
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Thu May 28, 2009
Dana Schuster answered:
Only your lender can determine how much you will be approved for based on your credit score,income.etc.
0 votes 5 answers Share Flag
Thu May 28, 2009
Michael Giles answered:
there are only two properties in Peabody with 3 bedrooms that I would consider to be in move in condintion for 220 and under. It sounds like you need more information as to the true costs of buying a home and how much you can get approved for. Contact me if you would like to go over the entire process. Mike 978-882-4659 ... more
0 votes 3 answers Share Flag
Mon May 11, 2009
Deb McCourt answered:
It is actually EASIER to buy REO than a house in foreclosure or short sale.
You need a buyer's agent. then you look at the properties you are interested in. Foreclosure and Short Sale I would suggest an inspection BEFORE you make an offer.
Most of these homes will require AT LEAST a lot of elbow grease but often times cash and a handy man, carpenter, plumber, etc..
Be careful, there is an awful lot of hype out there about the buyer's getting these huge deals. If you aren't experienced in this and working with an experienced agent you could walk right into a nightmare.
Deb McCourt
... more
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