31 Martin Rd, MA 01867
4 bed | 2 baths | 2,038 sqft
Price: $685,000
Welcome to 31 Martin Road, a handsome colonial in a quiet and friendly neighborhood, just a stone's throw away from Birch Meadow Elementary, Coolidge Middle, Reading High, the YMCA, and parks! Step inside and be greeted by a spacious and inviting fire-placed living room, [...]
Welcome to our monthly market update! We're taking a look at single family homes sold in March of 2023 and comparing it to March of 2022 specifically for Middlesex and Essex counties. The total number of active properties dropped by about 13% and inventory remains an issue. The total number of homes sold also dropped by about 15%. Days on [...]
Welcome to our monthly market update! We're taking a look at single-family homes sold in Middlesex and Essex counties and comparing February of 2023 to February of 2022. The total number of active properties dropped by almost 3%. The total number of homes sold also dropped by about 21.5%. Days on market or the time that it's taking homes to [...]
You may have seen reports in the news recently saying it’s better to rent right now than it is to own your home. But before you let that impact your decisions, you should understand what these claims are based on.
A lot of the time, these reports are assuming things that aren’t realistic for the average household. For example, [...]
Can you sell your home “As Is” In Massachusetts?
Yes you can. The real question is .. should you?
We have met many home sellers over the years that prefer not to invest the time and/or money in making repairs to a home before or during the sales process. The benefit of advertising a home “SOLD AS IS” is that the expectation is set for potential buyers that any repairs would be their responsibility. Simplifying the home sales process is certainly appealing to many home sellers but may have some drawbacks.
If a home needs major repairs, such as a failed septic system, the home may not qualify for many types of financing. Limiting financing options can drastically reduce the amount of potential prospects. Contractors and home flippers with access to cash or alternative financing can make the process convenient and hassle free for home sellers, however typically expect a steep discount in return for sweat equity.
If a home is otherwise in decent shape, potential home buyers often interpret “AS IS” much differently than home sellers. Some potential buyers automatically think “worst case” scenario. They may view the home as one that needs excessive repairs and get scared that there may be an underlying problem that isn’t visible. Compared to investors, home buyers looking to live in a home are usually willing to spend a lot more money. Many of todays buyers are not savvy when it comes to home repairs and maintenance, and can be easily spooked if a home is perceived as needing lots of work.
Even if a home is listed “AS IS” a home buyer may in fact still request repairs or attempt to negotiate. On the other hand, if a home is not listed this way, a seller typically isn’t required to make concessions or repairs. For sellers that have leverage by attracting lots of buyers and multiple offers, selling a home “AS IS” is often enough a by-product of market conditions.
In the suburbs north of Boston, most of the homes we sell are older and often need some sort of work. Every situation is unique, so contact us to discuss your specific situation!
Welcome to our monthly market update! We're taking a look at single-family homes sold in the North of Boston Market specifically Middlesex and Essex counties and comparing January of 2023 to January of 2022. The total number of active properties increased by about 11%. However, the total number of homes sold decreased by about 34%. Days on [...]
The Ternullo Real Estate Team is pleased to present our 2023 Annual Reports!
This comprehensive report reviews statistics and median prices of single family, multi family and condo homes,
as well as Michelle's house and style trends for 2023!
Click below to see the full report
If you’re a homeowner ready to make a move, you may be thinking about using your current house as a short-term rental property instead of selling it. A short-term rental(STR) is typically offered as an alternative to a hotel, and they’re an investment that’s gained popularity in recent years. [...]
Are you thinking of buying a Massachusetts Condominium?
By Attorney Richard Carter
A condominium is defined as “a building or complex of buildings containing a number of individually owned apartments or houses”.
There are several advantages in purchasing a condominium. First it may be a more affordable option than purchasing a single [...]
7 Rose Lane Stoneham, MA 02180
3 bed | 2 baths | 2,038 sqft
Price: $685,000
Situated on a corner lot, this ranch style home offers one level living in the Robin Hood section of town, one of Stoneham's most desirable neighborhoods. The refreshed first level offers hardwood flooring, & a functional layout for everyday living as well as [...]
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