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Methuen : Real Estate Advice

  • All77
  • Local Info9
  • Home Buying21
  • Home Selling2
  • Market Conditions4

Activity 28
Sat Apr 13, 2013
Ron Carpenito answered:
That's a complicated question, because you need to first determine if the asking price is over, at or below the market value of the home to begin with. Then you need to determine the current status of the local market, and then take into account the days on market and condition of the home as compared to other homes like it...its not a black/white answer.

Currently the markets are on the upswing and we are seeing many many OVER ASKING price offers on new listings, this is a factor of reduced inventory, current low rates, and an overall positive attitude towards real estate going forward.

To sum it, it really depends on the situation and property.
... more
0 votes 5 answers Share Flag
Thu Jan 31, 2013
Tim Moore answered:
The steps to follow are always the same:

Step #1 = Sit down and speak with a loan officer or mortgage broker and it is best to talk with a couple.

Step #2 = Find a Realtor to work with and tell them what you learned in step #1. They will guide you from there.

Good luck.
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0 votes 6 answers Share Flag
Sat Oct 27, 2012
Amy Mullen answered:
Good morning!

What is your reason for selling? That will help determine some options.

Amy
0 votes 8 answers Share Flag
Wed Jun 20, 2012
Christopher Lefebvre answered:
Hi Sully, do you have a question I could help you with?
0 votes 1 answer Share Flag
Sat Jun 2, 2012
Edith Karoline Jasser answered:
It seems that the property at 80 Ames in Methuen is not for sale at this time, it was listed at one point for under 200 K, a local Realtor can double check it for you..... here is my suggestion to you, I do not know how you found this address and property, but the very BEST way for you to find the right property for you, in price size and location is to connect
with an experienced Buyers agent, his or her services are paid by the sellers usually and are free to
you the buyer, why would you not want the expertise and experience on your side when making this
really big decision.

The Realtor will get you pre-approved by a reputable lender, will explore the homes that fit your needs
and pocket book and arrange showings, walk you through the inspection and all other parts of the
buying process. Do not do it alone!

Good Luck to you, if you need a recommendation for a local Realtor, get back to us here and we
gladly make some good recommendations.

EdithSellsHomes@gmail.com
YourRealtor4Life! Your Chicago, Northern Illinois, N and NW subs and the fine homes of the
Northshore Expert with @Properties Northshore, 30 Green Bay Road, Winnetka, Il. 60093
Edith always works in the very BEST interest of her clients, buyers, sellers and investors alike
and she truly goes the X-tra Mile with a SMILE for all her clients

Have a wonderful Day and all the BEST....
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0 votes 3 answers Share Flag
Thu Sep 20, 2012
Yuan Li answered:
Hi there,

Unit 112 just had an accepted offer a few days ago, but they are still accepting back-up offers.

Are you looking to have your home designed and built by them in the community?

Shoot me an email. I can help guide you in the process.

Yuan's Team Realty
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0 votes 6 answers Share Flag
Sat Apr 28, 2012
Christopher Lefebvre answered:
Hi Faith. Which condo are you interested in? I didn't see any address posted? I would be glad to help.
0 votes 8 answers Share Flag
Fri Apr 13, 2012
Petrina Floody answered:
It is presented that you may purchase the building and the right for that structure to be on the land for $3140 per year in rent. This is under a 3 year lease. Many times these leases are for 99 years so you do not run into an issue with the land owners asking you to move your structure. They have the right to the land and not renew your lease after 3 years. This situation is happening down in Dennis, MA right now. ... more
0 votes 3 answers Share Flag
Wed Mar 28, 2012
virginia broadhurst answered:
Tue Feb 28, 2012
Jim Simms answered:
FHA is not limited to a first time homebuyer if that is what you are asking. Owning a rental property does not necessarily keep you from getting an owner occupied FHA mortgage if you qualify for it. The second loan application will question the rental property income:

When using current leases to analyze rental income, the borrower can provide a current signed lease or other rental agreement for a property that was acquired since the last income tax filing, and is not shown on Schedule E. In order to calculate the rental income:

Reduce the gross amount by 25% (or the percentage developed by the jurisdictional HOC) for vacancies and maintenance Subtract PITI and any homeowner’s association dues, and Apply the resulting amount to income, if positive, or recurring debts, if negative.
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0 votes 1 answer Share Flag
Sun Nov 20, 2011
Scott Godzyk answered:
You certainly could, the baloance plus the expense of the foreclosure. You would be better off to sell it through a short sale where you can negotaite what happens to that shorted amount than just letting it go.

http://www.trulia.com/blog/scott_godzyk/2010/06/how_to_get_a_short_sale_approved

Please see my blog for tips on short sales and how to complete one
... more
0 votes 9 answers Share Flag
Thu Jun 11, 2015
Andrew Adams answered:
You will need a renovation loan. This time of year a bank is not going to close a conventional loan with the septic unless it's a renovation loan. By going with a renovation loan you will know you will close. You will need to set aside more for renovatoin need the full plans but it's done all the time. ... more
0 votes 23 answers Share Flag
Sat Apr 28, 2012
Kevin Vitali answered:
It means variable range. They will look at offers between price x and price y. It is a marketing concept that Prudential uses to supposedly increase buyer traffic.
0 votes 7 answers Share Flag
Sun Jun 20, 2010
Voices Member answered:
Jfo

Give this site a look for rent info and comparables..
http://www.zilpy.com/US/Massachusetts/Essex_County/Methuen/Zipcode_01844/Block_317/Rentals/

Searching by zip code seems to work easiest/fastest

Good luck, Dunes
PS..This site might also come in handy..http://www.rentometer.com/
... more
0 votes 5 answers Share Flag
Sat Apr 28, 2012
Brian X. Murphy answered:
Hi, Hesszee!

Chippy Lane is a great neighborhood! It's a quiet area without a lot of traffic because it's not a through way. This means that the only traffic coming through the neighborhood is for people who actually live there. This would be a neighborhood with a lot of Trick-or-Treaters during Halloween. That said, it's a commuter's dream being close to both Routes 495 and 93 with a great shopping mall nearby. If you're looking for a close-knit community that's close to everything, this is it. Overall, a solid 7.

As it turns out, there is a home for sale on Chippy Lane. You can find this home and many more like it at http://www.AboutTownProperty.com. May I show it to you?
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0 votes 2 answers Share Flag
Mon Aug 13, 2012
Elizabeth Herbert answered:
I asked this question of an attorney earlier this year and was told that by law they don't, but it's a nice courtesy if they do
0 votes 3 answers Share Flag
Mon Jun 22, 2009
Scott A. Nelson answered:
Which property are you referring to?
0 votes 0 Answers Share Flag
Wed May 27, 2009
Kristen Blanchet Keegan answered:
That condo has not been put on the market yet. The only unit currently available there is a two bedroom for 169,000. If you would like to send me your email address I can let you know when it becomes available. ... more
0 votes 0 Answers Share Flag
Sun Sep 12, 2010
Territory.com answered:
I think you should test the rental market. Foreclosure might have worse future implications than being a landlord for a couple years to see if the market turns around.

You are in tough situation and should consider sitting down with an accountant or financial adviser to help organize your situation and outline a good option for you based on your income. ... more
0 votes 4 answers Share Flag
Sat May 2, 2009
Massachusetts Real Estate answered:
Hi Brandi - Assessed value is not a good way to measure market value in general but this is especially true in this case. Property values in Methuen have taken a hit as they have everywhere but more so in some neighborhoods versus others. Also, this house has been completely renovated and that has an effect as well. In my opinion the house is not priced to sell and that is why it hasn't. It did start at $359,900 and was lowered at the end of March to the current price of $339,900. A market analysis will reveal the current value and working with a buyer agent to represent you will help you put together a clear picture of how to get the house for the price you want! Feel free to contact me with any other questions. ... more
0 votes 3 answers Share Flag
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