Real Estate Pepperell MA and Surrounding Communities

Townsend MA Real Estate Homes for Sale, Market Report, Free MLS Search, Integrity Residential Brokerage, Catherine Condon, (978)433-0000      

Townsend, MA Real Estate Market Report - September 1, 2010

Currently, there are 72 single family homes offered for sale in Townsend, MA ranging in price from $65,000 to $1,800,000.  The average list price is $313,881 and the average days on market is 318.

There are 5 properties currently under contract ranging in price from $97,900 to $265,000.  The average list price is $169,540 and the average days on market is 136. 

Within the past 6 months, 40 properties have sold.  The average list price was $245,503 and the average sale price was $238,760. The average days on market were 158. 

If you are interested in learning the value of your home, Integrity Residential Brokerage would be happy to assist you with a market valuation on your home.

Townsend MA and Surrounding Communities - MLS FREE SEARCH

If you'd like to search for property currently on the market, click on the link below.  You'll have access to every property currently listed in Massachusetts as well as New Hampshire.

SEARCH 1000'S OF HOMES FOR SALE IN MA & NH FOR FREE!

Integrity Residential Brokerage, licensed in both Massachusetts and New Hampshire, would be happy to assist you in your home buying or home selling needs. If you, or anyone you know, is considering buying or selling a property, Integrity Residential Brokerage located in Pepperell, MA, would love to hear from you!  We strive to offer you the highest level of professional assistance possible making your desires and goals a reality.

CLICK HERE to subscribe to my blog for more real estate information. 

Information deemed reliable but not guaranteed. Please note that individual listings periodically mentioned in this blog are accurately described in terms of availability and price at the time of the posting. Because properties are constantly coming on and off the market, please contact Catherine for the latest information on those that are of particular interest to you.

Home Buyer Tax Credit - Possible Pitfalls

Recently, I read some articles pertaining to homeowners who took advantage of the Home Buyer Tax Credit and then sold that home within a short amount of time. The common thread was that the homeowner seemed unaware that selling the property, within three years from initial purchase, could result in a significant unexpected tax bill. As real estate professionals, we need to be aware of potential future consequences relative to the Home Buyer Tax Credit so that we can advise our clients to seek professional guidance should the situation call for it.

I believe that during the next three years, we need to ask the following question when meeting with homeowner's who are thinking of selling their home.  "Did you take advantage of the Home Buyer Tax Credit when you purchased this home?"  Keep in mind, real estate agents do not offer legal or tax advice but we should try to determine if there are any potential issues that could arise if the property is sold.

Sale or Use Change - How many homeowner's are aware that if they sell the home, convert it for business purposes or rent it, the home is no longer considered the purchaser's "principal residence".  It's important to know that if the property is sold within three years from initial purchase date, or no longer qualifies as a "principal residence", the homeowner may be required to repay the entire amount of the tax credit.

Destroyed, Condemned or Foreclosed - This also applies to property that was destroyed, condemned or the lender foreclosed on the residence.  In this case, the purchaser may have to repay the entire amount of the credit if the purchaser does not acquire a new home within two years. 

Sale to Unrelated Third Party - If the purchaser sells the home to an unrelated third party, the credit repayment is limited to the amount of gain on the sale. This provision was put in place to prevent purchaser's that received the tax credit from selling the property immediately. While this provision provides some benefits, it also affects those who may need to move for legitimate reasons such as a job transfer or simply a change in circumstances such as death or divorce.

The above information is deemed accurate but is not guaranteed.  Refer to the IRS website (www.irs.gov) for complete details regarding the Home Buyer Tax Credit (Form 5405). I encourage everyone who has purchased a property and received a Home Buyer Tax Credit, to consult a professional prior to selling or converting your property in the next few years.

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Integrity Residential Brokerage, licensed in both Massachusetts and New Hampshire, would be happy to assist you in your home buying or home selling needs. If you, or anyone you know, is considering buying or selling a property, Integrity Residential Brokerage located in Pepperell, MA, would love to hear from you!  We strive to offer you the highest level of professional assistance possible making your desires and goals a reality.

If you'd like to search for property currently on the market, click on the link below.  You'll have access to every property currently listed in Massachusetts as well as New Hampshire.

SEARCH 1000'S OF HOMES FOR SALE IN MA & NH FOR FREE!

 CLICK HERE to subscribe to my blog for more real estate information. 

FHA Loans: Gaining Popularity

Working as a real estate broker with Integrity Residential Brokerage, I've noticed a significant increase in buyers utilizing FHA loans.  FHA Loans are mortgages issued by lenders and insured by the Federal Housing Administration (FHA). This federal government insurance gives lenders some assurance that they will be repaid if the borrower defaults. 

Even with the popularity of FHA loans, many buyers do not understand the potential benefits of these loans. Below, are some frequently asked questions about FHA Loans.

Are FHA Loans Only For Low Income Borrowers?  The good news is FHA loans are available to everyone. There are no income restrictions. Similar to most mortgage options, borrowers will need to supply proper documentation for income and assets which assures the lender that the borrower will be able to afford the home.

Are FHA Loans Only For First Time Buyers?  You could be a first time buyer or buying your 10th home, anyone who would like to apply for a FHA loan is able to do so. 

Aren't FHA Loans Just For Small Loans?  Recently, the government raised the maximum loan amount from its original cap of $362,790 to $793,750 in hopes that it will help stabilize the housing market. The amount a buyer can borrow might vary county to county, so check with a qualified lender in your area.  

Are FHA Loans More Affordable Than Conventional Loans?  While interest rates are comparable to other loan options, one of the greatest benefits of a FHA loan is that the downpayment could be as low as 3.5%. 

Are FHA Loans Assumable? Yes!  FHA loans are assumable. While the initial attraction of a FHA Loan might be the low downpayment, the potential to transfer the loan and it's terms (interest rate) to a buyer might make the property more desirable and possibly increase the value, especially if interest rates rise.

If you're considering a home purchase, speak with your lender about the possible benefits of a FHA Loan!

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Integrity Residential Brokerage, licensed in both Massachusetts and New Hampshire, would be happy to assist you in your home buying or home selling needs. If you, or anyone you know, is considering buying or selling a property, Integrity Residential Brokerage located in Pepperell, MA, would love to hear from you!  We strive to offer you the highest level of professional assistance possible making your desires and goals a reality.

If you'd like to search for property currently on the market, click on the link below.  You'll have access to every property currently listed in Massachusetts as well as New Hampshire.

SEARCH 1000'S OF HOMES FOR SALE IN MA & NH FOR FREE!

 CLICK HERE to subscribe to my blog for more real estate information. 

Let's Meet Face-to-Face: Story of a Broker Open House, 7 Granite Rd., Townsend MA

I have a wonderful listing located at 7 Granite Rd., Townsend MA and my seller client requested that I hold a Broker Open House.  Back when I started my real estate career 23 years ago, our office would attend Broker Open Houses every Tuesday and Thursday. It was a great way to see new listings, chat with area agents and ask the listing agent questions about the property. 

How many of you remember when listings came out in a weekly book printed in black and white?  With the technology we have available today, detailed property information is available via the internet/MLS, video tours are common and as many photos as you'd like are attached to the home description.  It seems broker open houses have become a thing of the past in our area. The few I've done in the recent past were poorly attended and seemed a waste of time.  I asked myself, "Why take the time to hold a broker open house if no one is going to come?" 

Since the seller specifically wanted a broker open house, I decided to try some new ideas to increase the odds that the area agents would attend.  I contacted a number of agents that also had listings in the area and suggested we have a "progressive open house".  I also suggested that we offer food (what agent doesn't appreciate lunch?) and make that component "progressive" as well.  For example, the first house offered appetizers, the second one offered salad, the third house offered lunch, etc.  The last component of the Progressive Broker Open House was to send out a flyer advertising the event to all area agents.  I also utilized the reverse prospecting email program to further promote the open house. 

In this age of internet/computer technology, I find that sometimes I can complete a whole transaction and never meet the buyer or seller agent face-to-face.  Much of our business is conducted via the tools we have available now and our interactions with area agents can very easily become email or phone based.  Was having a broker open house old school?  Perhaps, but I have to admit, it was very nice to get to know agents that I've spoken to over the phone but have never met face-to-face. It was also a nice way to reconnect with agents I haven't seen in awhile and they got to see my wonderful listing at 7 Granite Rd., Townsend MA!

It's easy to get immersed behind our computers.  Find time to connect face-to-face. I'm glad I did! 

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Integrity Residential Brokerage, licensed in both Massachusetts and New Hampshire, would be happy to assist you in your home buying or home selling needs. If you, or anyone you know, is considering buying or selling a property, Integrity Residential Brokerage located in Pepperell, MA, would love to hear from you!  We strive to offer you the highest level of professional assistance possible making your desires and goals a reality.

If you'd like to search for property currently on the market, click on the link below.  You'll have access to every property currently listed in Massachusetts as well as New Hampshire.

SEARCH 1000'S OF HOMES FOR SALE IN MA & NH FOR FREE!

 CLICK HERE to subscribe to my blog for more real estate information. 

Loan Modification and Short Sale Tips

Are you a homeowner seeking to lower your monthly mortgage payment through a loan modification application? Perhaps you're attempting to process a short sale application.  The application process can be challenging and lengthy.  Oftentimes, paperwork gets lost, your file gets transferred to a new processor, or additional information is needed.  Above all, diligent follow-up and patience is needed.

Below are some tips you might find helpful. 

Contact Your Mortgage Company - Every lender is different so contact them to find out exactly what documentation they require from you. Make sure you send them everything they requested. Typically, they will want the following.

Hardship Letter - In order to process a loan modification or short sale application, you must include a hardship letter that explains the reason for your request. Provide details as to when an income loss occured and any other mitigating circumstances that create the hardship. 

Income Verification - This is a critical component of your application. Typically, the mortgage company will want copies of your most recent paystubs, as well as any other income source such as your spouse's income or rent received from a tenant.  

Bank Statements. The lender is going to want to review your most recent bank statements in order to verify your income and expenses.  Did you receive any gift money to help make ends meet?  If so, make sure to include a detailed explanation of the income source.

Send Your Documents to the Mortgage Company - Typically, the mortgage lender will supply you with a fax number as a preferred way to send your documents to the company.  Unfortunately, fax's often get lost, separated or sometimes take 10 days to download into their database. As a backup, I suggest you mail your documents to the mortgage company as well.  Label Each Page With Your Name and Loan Number. All correspondence sent to the mortgage company should include your full name, address, and loan number on each page.

Call Frequenty - Follow up, at the very least, on a weekly basis.  Mortgage Companies are inundated with application requests for loan modifications and short sales. The person handling your file may leave the company or your file may get transferred to a new processor.  Sometimes, your file is not being processed further up the chain because additional, or updated, paperwork is needed. Do not wait for them to call you. With the astronomical number of files being processed you must be proactive!

If you are in a position where you need to sell your current home and it's likely to be a short sale, picking a Realtor with short sale experience is critical to getting the short sale approved.  So far, I'm glad to report that all of the short sales I've assisted with have been approved!

I hope you find these tips helpful. Integrity Residential Brokerage, licensed in both Massachusetts and New Hampshire, would be happy to assist you in your home buying or home selling needs. If you, or anyone you know, is considering buying or selling a property, Integrity Residential Brokerage located in Pepperell, MA, would love to hear from you!  We strive to offer you the highest level of professional assistance possible making your desires and goals a reality.

If you'd like to search for property currently on the market, click on the link below.  You'll have access to every property currently listed in Massachusetts as well as New Hampshire.

SEARCH 1000'S OF HOMES FOR SALE IN MA & NH FOR FREE!

 CLICK HERE to subscribe to my blog for more real estate information. 

Hollis NH - Trail Maps

As a busy real estate Broker with Integrity Residential Brokerage located in Pepperell, MA, it's sometimes challenging to carve out some time for R&R.  One of the ways I like to relax is to take my wonderful registered Morgan and hit the trails on weekends.  I always try to explore new trails and thought I'd try the Hollis NH Town Forest.  A quick internet search for Hollis NH Trail Maps and I was on my way!

I live in Pepperell, MA and arrived at the Hollis NH Silver Lake State Park  parking lot in approximately 10 minutes. Parking the horse trailer was extremely easy. Another nice feature is that the trails are very well marked.  Trail maps are posted throughout the Town Forest. The only thing missing is a "You Are Here" arrow!

While I was doing my internet search, I learned that a group of volunteers maintain, create and map the Hollis NH trails. The Hollis Nor'Easters Snow Mobile Club  donates material for bridges and trail upgrades and puts countless hours into trail work.  Well, I can not begin to describe the amazing quality of the trail maintenance here. 

Upon entering the trail, we came quickly on what I first thought was a pristine stone dust road only to discover that it was actually part of the trail system!  Well thought out water culverts with stone edging and chipped bark mulched trails were evident throughout the Town Forest.  Someone in this group has an eye for detail as the chipped bark mulch was perfectly edged and would compete with any landscaping design found in your local sub-division.   

All I can say is this trail system is incredible.  Check it out.  I'm definitely coming back again and again.

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Integrity Residential Brokerage, licensed in both Massachusetts and New Hampshire, would be happy to assist you in your home buying or home selling needs. If you, or anyone you know, is considering buying or selling a property, Integrity Residential Brokerage located in Pepperell, MA, would love to hear from you!  We strive to offer you the highest level of professional assistance possible making your desires and goals a reality.

If you'd like to search for property currently on the market, click on the link below.  You'll have access to every property currently listed in Massachusetts as well as New Hampshire.

SEARCH 1000'S OF HOMES FOR SALE IN MA & NH FOR FREE!

 CLICK HERE to subscribe to my blog for more real estate information.