SOLD!!

$399,900

Location! Location! Location!

Immaculate 3 plus bedroom home with two fireplaces, hardwood floors and cooks kitchen. Freshly painted with recent updates to the bathrooms and electrical. Set on a well maintained landscaped half acre of land. Incredible opportunity to live in Parsonage neighborhood at a great price! Title V approved.

MLS # 70963141

Details

Rooms: 8 Bedrooms: 3 Full Baths: 2 Half Baths: 0 Master Bath: Y Fireplace(s): 2 Garage Spaces: 2 Style: Raised Ranch Acres: 0.46 Lot Size: 20037sqft Living Area: 1452sqft Color: Year Built: 1963 Parking Spaces: 6

Contact Sue Hayes for more information!  suehayesrealestate@gmail.com

For information on this home as well as other homes for sale in Topsfield, Massachusetts, contact Sue Hayes, Realtor for Century 21 Heritage Realty Associates in Topsfield. I’m here to answer your Real Estate questions!

If you are searching for other homes for sale in Massachusetts, feel free to use the search engine on this site to access ALL the homes for sale on the Multiple Listing Service (MLS) statewide – no registration required!

Truth in Lending

Jay Gallagher Bank of America

During a Century 21 Heritage Realty Associates office meeting in Newburyport this morning, Jay Gallagher, a Bank of America Mortgage Loan Officer who has a desk in each of our four offices,  gave us a critical update about recent revisions to Regulation Z.

Regulation Z (also called the Truth in Lending Act of 1968) is a consumer protection act governed by the Federal Reserve that mandates full disclosure of credit terms and the cost of credit. Makes sense that the terms of a loan are disclosed! It’s an enormously important part of a Real Estate transaction, and any change to it should be greeted as a ‘must know’.

In the interest of maintaining the integrity of information and not placing banks and/or consumers at risk, any change in the interest rate of a loan now triggers a brand new disclosure process. What exactly does that mean to a home buyer?

If a buyer is waiting to lock in a rate until just before closing – a fairly common strategy for home buyers – and the interest rate changes from the original rate in the mortgage documents, the bank will need to provide new paperwork (disclosure) and risk assessment. This takes time!

If that scenario happens three days before closing, guess what?  The loan is not going to close on time. There will not be a closing as scheduled. Pretty scary isn’t it?

So how can a buyer protect themselves?  Jay’s excellent suggestion is to lock in a rate at least 10 days before the scheduled closing. That has worked out to be ample time to handle a new full disclosure of credit terms for the HUD statement and close on time.

Bottom Line: Don’t overlook this change, be aware of all rate change implications and realize that our new financial environment is working hard to avoid all unnecessary risks to banks and consumers.

       What home improvements really pay off when the time comes to sell your house?

That’s an important question for any homeowner contemplating moving or remodeling.  And the only       possible answer is a somewhat complicated one.

That answer starts with the fact that really major improvements – room additions, total replacements of kitchens and baths, etc., — rarely pay off fully in the near term.  It ends with the fact that small and relatively inexpensive changes can pay off in a big way in making your home attractive to buyers if your decision is to move now.

It’s a simple fact, consistently confirmed across America over a very long period of time, that even the most appropriate major improvements are unlikely to return their full cost if a house is sold within two or three years.

Does that mean that major home improvements are always a bad idea? 

Absolutely not!  It does mean, though, that if your present house falls seriously short of meeting your family’s needs you need to think twice – and think carefully – before deciding to undertake a major renovation.   Viewed strictly in investment terms, major improvements rarely make as much sense as selling your present home and buying one that’s carefully selected to provide you with what you want.

Even if you have a special and strong attachment to the house you’re in and feel certain that you could be happy in it for a long time if only it had more bedrooms and baths, for example, there are a few basic rules that you ought to keep in mind.

Probably the most basic rule of all, in this regard, is the one that says you should never –unless you absolutely don’t care at all about eventual resale value – improve a house to the point where its desired sales price would be more than 20 percent higher than the most expensive of the other houses in the immediate neighborhood.
Try to raise the value of your house too high, that is, and surrounding properties will pull it down.

          Here are some other rules worth remembering:

•  Never rearrange the interior of your house in a way that reduces the total number of bedrooms to less than three.
• Never add a third bathroom to a two-bath house unless you don’t care about ever recouping your investment.
• Swimming pools rarely return what you spend to install them.  Ditto for sun rooms – and finished basements.
• If you decide to do what’s usually the smart thing and move rather than improve, it’s often the smaller, relatively inexpensive improvements that turn out to be most worth doing.

The cost of replacing a discolored toilet bow, making sure all the windows work or getting rid of dead trees and shrubs in trivial compared with adding a bathroom, but such things can have a big and very positive impact on prospective buyers. 
A good broker can help you decide which expenditures make sense and which don’t, and can save you a lot of money in the process.

Ipswich Homefor Sale – Pond Edge Lane  $749,500

Looking for a nice home on a private cul-de-sac? This home is placed at the end of a quiet Lane with only 4 other homes. Perfect location, easy access just 2 miles from I95 and US Rte. 1  in Historic Ipswich, MA.  Inside there is plenty of room to relax in the oversized family room, or open the french doors to a private living room. Large master bedroom suite,walk in closet, and master bath. Kids enjoy their large open bedroom design. Park up to 6 cars in this huge garage, heated with running water and floor drains.

Property Information

Approx. Living Area: 5276 sq. ft.	Approx. Acres: 1.21 (53143 sq. ft.)	Garage Spaces: 6  Attached, Under, Heated
Living Area Includes:	Heat Zones: 10  Hot Water Baseboard, Gas	Parking Spaces: 6  Off-Street

Features Appliances: Indoor Grill Area Amenities: Golf Course Basement: Yes   Full, Partially Finished, Interior Access, Garage Access Beach: No Construction: Frame Electric: Circuit Breakers Exterior: Shingles, Wood Exterior Features: Porch, Deck, Patio, Gutters Flooring: Wood, Tile, Vinyl Foundation Size: 51 x 52 Foundation Description: Poured Concrete Hot Water: Propane Gas, Tankless Insulation: Full Interior Features: Wetbar Lot Description: Wooded, Paved Drive Road Type: Public, Cul-De-Sac Roof Material: Asphalt/Fiberglass Shingles Sewer and Water: City/Town Water, Private Sewerage Utility Connections: for Gas Range, for Gas Oven Waterfront: No

Other Property Info Adult Community: No Disclosure Declaration: No Disclosures:   Exclusions: Home Own Assn: No Lead Paint: Unknown UFFI: Unknown Warranty Available: No Year Built: 1993 Source: Public Record Year Built Description: Actual Year Round: Yes Tax Information Pin #: Assessed: $832,600 Tax: $8609 Tax Year: 2009 Book: 21850 Page: 298 Cert: Zoning Code: RRA Map: Block: Lot:

susan-hayes.com

Offered by: Century 21 Heritage Realty Associates

SOLD!

FIRST OPEN HOUSE!    Sunday April 26 12-2 PM!

Estimated

Payment: $2,950.52 Per Month*

Please contact me for full details!

Take a video tour of this home!

Market conditions currently favor first time homebuyers. Historically low interest rates, affordable prices, large variety of properties to choose from and the new $8,000 First Time Homebuyer’s Tax Credit make this an ideal time for consumers to make their move.

With this bill, first time homebuyers may now qualify for a tax credit up to $8,000 (the previous amount was $7,500) on the purchase of a principal residence. In addition to increasing the tax credit limit the terms of repayment have been modified, in most circumstances the homebuyer no longer needs to repay the tax credit.

For more information and details, please e-mail Sue Hayes!

Despite recent slowdowns in some markets, housing remains a good long-term investment, and demographic demand favors housing over the longer term. Homeownership offers immediate benefits and long-term value. Homeowners accumulate wealth for the future while enjoying the benefits of a shelter that they can use, improve and sell.

Sweepstakes opens the door to homeownership with $221,000 grand prize!

CENTURY 21 Heritage Realty Associates jump starts spring home buying season with its participation in CENTURY 21 Real Estate’s second annual April Open House Month Campaign and the launch of its first-ever “Path to Your Dreams Sweepstakes.*” Through this sweepstakes, the CENTURY 21® System is opening the door for one lucky consumer to win $221,000 toward the purchase of a home. Beginning April 1, 2009, the sweepstakes will run until midnight on May 16, 2009.

CENTURY 21 Heritage Realty Associates sales professionals will stage open house events throughout the North Shore of Massachusetts in April where they will welcome the opportunity to help consumers understand the advantages of current pricing, interest rates and incentives, such as the First-Time Homebuyer Federal Tax Credit with CENTURY 21 Heritage Realty Associates.  ”We believe there is pent-up demand for housing. In fact a recent CENTURY 21 First Time Home Buyers Survey *** found that more than three-quarters (78 percent) of potential first-time home buyers say that now is a good time to buy a home.” said Ed Maccaro, Broker and Owner of Heritage Realty Associates’  four offices in Newburyport, Amesbury, Georgetown and Topsfield, MA.

In addition to the grand prize of $221,000, there will be eight regional prizes of $5,000 and 10,500 instant winners who will receive a $10 gift card. Consumers can enter online at century21.com, or they can enter at a CENTURY 21 Heritage Realty Associates’ open house. The drawing for the grand prize will be held at the end of May.

As local market experts, CENTURY 21 Heritage Realty Associates sales professionals are uniquely qualified to help consumers navigate the opportunities that exist in the local real estate market and provide current sellers with an excellent opportunity to gain additional exposure for their properties. For Open House listings in the North Shore of Massachusetts, consumers can visit the CENTURY 21 Heritage Realty Associates website. 

© 2009 Century 21 Real Estate LLC, A Realogy Company. CENTURY 21® Is A Registered Trademark Licensed To Century 21 Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each CENTURY 21 Office is Independently Owned and Operated.

*NO LISTING OR PURCHASE OF A HOME REQUIRED TO ENTER OR WIN. Odds of winning depend on number of entries. Promotion begins at 12:00:01 a.m. ET on April 1, 2009 and ends at 11:59:59 p.m. ET on May 16, 2009. Open to legal residents of the 50 U.S. States and DC (except residents of KS, MO, NJ, OK and RI) who are 18 years of age or older at time of entry. Void in KS, MO, NJ, OK, RI, Puerto Rico, the U.S. Virgin Islands and U.S. Military Installations in foreign countries and where prohibited, taxed or restricted by law. Subject to full Official Rules, available at www.century21.com/sweepstakes. Sponsored by: Century 21 Real Estate LLC, 1 Campus Drive, Parsippany, NJ 07054.

**Methodology
Penn, Schoen & Berland Associates conducted an online poll on behalf of Century 21 Real Estate LLC with 1,000 prospective first time homebuyers that indicated they were likely to buy their first home in the next two years. The survey fielded from March 2-7, 2009, and has a margin of error of +/- 3.1%.

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          Beauty is in the eye of the beholder, particularly when it comes to buying a home.  Features that attract one home-buyer may repel another.

          However, the one feature of interest to every home-buyer is price.  Getting the most home for your money is paramount.  The real problem is figuring out whether that fixer-upper on one street is a better buy than the home in next-to-new condition two blocks away.  That’s why knowing what to look for before you buy can save you time, energy and money down the line.

          The first step is figuring out what kind of house you need.  A good buy is only a good buy if it meets your current and future living requirements.  Before shopping for a home, decide how much space you and your family require.  How many bedrooms, bathrooms?  Is a family room necessary?  Do you need a layout that will accommodate a lot of entertaining?  Do you prefer a spacious or compact work space in the kitchen?  If you have small children, can the house easily be childproofed?

          Evaluate the front and back yards.  Is there enough space to accommodate your children?  Do you want a park-like or garden setting?  Do you enjoy yard work and gardening, or do you want a low-maintenance yard?  Take into consideration the cost of extensive landscaping and upkeep.

          Next, determine how much work is required to make the house you are considering livable.  Make an honest assessment of your fix-it abilities.  How much work are you willing to do or pay someone else to do?  Do you have basic decorating, carpentry and plumbing skills?  If you plan to learn as you go, make sure you have accurately determined what you are getting into.  Ask an experienced friend, family member or your real estate agent for their opinion, and be sure to consider how much remodeling inconvenience the rest of the family can handle.

          Unless you are ready and able to tackle a major remodel, look for a house or condominium that needs only cosmetic improvements.  These include painting, wallpapering and replacing items like flooring, window treatments, bathroom and kitchen fixtures, light fixtures, cabinet and interior door hardware and appliances.  Remember that even these simple changes can be costly if you have to make many of them.

          Beware of improvements that seem easy enough at first glance buy may turn into major headaches and require a lot of money once you’ve moved in.  Remodeled kitchens and bathrooms, changes to the floor plan, room additions and redesigned landscaping are examples of seemingly minor changes that can easily eat away the money you thought you saved by selecting a so-called “bargain priced” home.  Of course, you may be perfectly willing to spend whatever money is needed to customize the house to match your tastes and needs.

Make sure major systems in the house are in good working condition.  The furnace, air-conditioning and plumbing should be up to date, since repairs can be costly.  Your agent can arrange to have a professional inspector determine whether the electrical wiring and any room additions are to code.  Local utilities often offer free or low-cost inspections to tell you if the house is energy-efficient.

          Look for a house with universally popular selling points.  If you’re impressed, the next buyer down the line is bound to be, too.  For example, a roomy, modern east-to-clean kitchen is the best selling point a home can have.  A house with only one bathroom is less desirable than a house with two or more.  Many buyers expect at least three bedrooms, with a master bedroom that offers a feeling of privacy.  Lots of storage space and closets, especially walk-in closets, will be a real selling point.  Family rooms or “great rooms” also are desirable.  On closer examination, a house that looks like a bargain may lack some of these key features.

          Don’t forget the old adage:  location, location, location.  Unless you’re looking for a fixer-upper, the house should be in a condition that is comparable to other homes in the neighborhood.  Avoid buying the biggest or fanciest home on the block.  Consider the amount of traffic or noise.  Homes located in a quiet area away from a busy street will command a higher price.  Make sure the schools in your district have a reputation for quality education and safety.  Nearby supermarkets, gas stations, restaurants and theaters also will make a location more desirable.

          Good community facilities also add appeal; pools, athletic fields, community centers, libraries and hospitals all add to a neighborhood’s value and desirability.  Transportation needs also should be considered.  Is local public transit available?  How long are typical commutes to places of current and potential employment?  Are there several alternate route?  How close is a major airport?  All of these can affect a home’s pricing.

          Consider the cost of living in a home.  It’s important to consider not only purchase price but the monthly cost of living in a home.  Estimate your utility and maintenance costs.  For example, will the house need to be painted on a regular basis and will you need to spend money maintaining a swimming pool?  Ask your agent about the property tax rate and whether increases are anticipated.  Will you have to pay special assessments for a homeowner’s association?  Consider the point in the life cycle of major household systems, such as the furnace, air conditioning, roof and kitchen appliances.

          You can find a bargain!  Your first step should be to seek out a knowledgeable real estate agent with experience in the market areas where you wish to purchase a home.  Your agent can help you locate those properties that truly are “bargains” and help find the home that most closely matches your desires and needs.

We are all looking for the latest information about what the Real Estate Market is doing – Realtors, Sellers and Buyers alike.
To that end, Century 21 has launched a talk radio site, featuring interviews with senior executives and an incredible wealth of information!
I’ve added a permanent, direct link here on my site – have a listen, learn and keep track of the latest info!

In many parts of the country, selling a home during the winter months can be a challenge.  Dreary, cold weather and the end-of-the-year holidays can keep buyers away and heighten fears of your home staying on the market longer than expected.

     However, there are a few things you can do to enhance “curb appeal.”  And when that happens, buyers will take notice.

     For example, if your home has been on the market for more than six months, its probably time to change the sales approach.  There are several factors that could be reviewed with your real estate agent to determine improvements that can be made.  Ask for a reassessment of the sales price; it may be too high for the current market.  Also, ask the agent for a new or updated marketing plan and ask for a specific explanation of each activity.  Marketing your home goes beyond a few ads on the internet and a listing on the Multiple Listing Service (MLS); a good agent will do more to get your home sold.

     If your current agent doesn’t respond to your satisfaction, you should contact the real estate broker (the owner of the office) and ask for a different sales agent – or, if you’re no longer under any contractual obligation to the firm, it might be time to change real estate offices entirely.

     When setting the asking price through a comparative marketing analysis, compare similar homes sold in the winter months.  Many owners set their asking price too high because of comparisons with sales prices during peak seasons.  Always try to compare like properties sold at the same time of year.

     Once you’ve settled on an asking price, its time to spruce up the interior and exterior of your home.  Many real estate agents recommend opening as many curtains as possible to add light and color to rooms.  Also, it’s suggested that you keep spring and summer pictures of your home out on tables and in clear view.  Photos of your front yard flowers or the backyard shade tree in full summer bloom can help swing many buyers in favor of a purchase.

     Staying on top of winter maintenance and chores is another sure-fire way of adding value to your home.  A neatly shoveled driveway and cleared walkway can add a nice touch.  Make sure the furnace is in good working condition and that the room temperature is kept at a comfortable level.  Also, check to see that the basement if dry and sealed from any drafts.

     Take yourself on a tour of your home.  Start in the basement and work you way through the house.  More than likely you’ll see many previously undiscovered cluttered spaces and needed repairs that can turn off potential buyers.