Maynard Real Estate - Rental Condo SOLD!

 

Last October a homeowner that I connected with on LinkedIn asked me to sell her condominium at Stonebridge Narrows, 10 Mill Street in Maynard. After reviewing recent sale prices she decided that it made more sense for her to rent the condo instead. She listed it for rent mid-November and within a couple of days someone who was planning to relocate to the Maynard area agreed to rent it site unseen. She sent her application and paid for a credit and background check. Everything was fine and the next step was to prepare the lease. And then she changed her mind! I am always a bit suspect when someone agrees to rent (or buy) home they haven't visited, so it wasn't really a big surprise.

Market activity dropped off toward Thanksgiving and into December and the owner lowered the rent which stimulated activity again. Unfortunately, a lot of potential tenants were either looking for short-term rentals, had pets, needed additional parking, had poor credit, or else they wanted everything brand-new and completely updated

One day a woman who had sold her house called and asked me if the owner would
be willing to sell the unit instead of renting. She really wanted to buy in Maynard but there were so few condos for sale in town that she just wasn't finding anything in her price-range. She really liked the location of the building and especially the river views. She was a cash buyer and offered a very quick closing and was very persistent! After negotiating the price and all of the details (buying a condo is different than buying a single-family house), the parties finally agreed on a price and in approximately three weeks, the sale closed. Seller and buyer were both very happy with the outcome!

The number of condominiums and houses for sale in the Maynard area is extremely low. While it is frustrating for people who want to buy a home - as in this case, they are even calling on rentals, it's a great time to be a seller! If you're thinking about moving, this is the time to get your home on the market. Waiting for spring will only bring more competition for you. Click here request a home evaluation report.

 

Townhouse Prices at Deer Hedge Run, Apple Ridge, and Oak Ridge (Maynard) on the Rise!



Deer Hedge Run, Deer Path, Maynard MA

Here is the latest market information for Deer Hedge Run, Apple Ridge, and Oak Ridge, three established townhouse condominium developments in Maynard. The data is for the six month period ending on 8/14/2013. Six months is the period of time that lender/bank appraisers use for new purchase mortgages and refinancing.

Deer Hedge Run

There were 5 closed sales at Deer Hedge Run during the past 6 months. Sale prices ranged from $189,950 (non-MLS listing) to $242,000 for a townhouse that sold in June for $195,000 that was 2 finished levels. The new owner finished the third floor loft and flipped it for $242,000. The average price was $213,190. Last year for the same period the average sale price at Deer Hedge Run $199,275.

Currently, there are 3 townhouses listed for sale. List prices range from $219,500 to $249,000. Two of these units already have accepted offers with contingencies so really there is only one that is fully active; that is that is listed for $249,000.

Deer Hedge Run is conveniently located off Route 62 in Maynard, near the Acton, Concord, Sudbury line, just minutes from Routes 117 and Route 2. Beautifully sited on 37+ private acres with mature landscaping, residents enjoy a community pool, tennis court, and clubhouse with living room, dining room, kitchen, and fitness room. Visit www.DeerHedgeRun.com for additional photos and information or call Marilyn at 508-596-3501 to find out what's going on at Deer Hedge Run.

 

Apple Ridge

Apple Ridge is a similar townhouse development in Maynard that was built by the same developer. It is located off of Summer Street near Stow, with easy access to Route 117. There was one closed sales during the past six months; a unit that had four finished levels and was completely updated with high-end finishes sold for $285,000. Last year there were no closed sales at Apple Ridge for the same 6 months. Currently, there are 2 units with sales pending.

Oak Ridge

Sale prices at Oak Ridge, also built by Hayes Development of Concord MA, located off Waltham Street near the Sudbury line, were also higher this year. Call 508-596-3501 for more information.



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Maynard (MA) Housing Market Makes a Comeback in May!

Median sale prices for closed sales in Maynard during May 2013 improved dramatically from May 2012. Here is a chart showing median sale prices for single-family homes in May 2009 - 2013.

The number of homes sold in May was also higher and as in most places, the number of homes currently for sale in Maynard is substantially lower than last year at this time. Real estate prices are all about supply and demand and lower inventory is causing homes that are priced correct to sell quickly, sometimes generating multiple offers and sale prices over asking.

There are also fewer condominiums for sale. Sales activity at the Deer Hedge Run, Apple Ridge, and Oak Ridge townhouse developments has picked up.

Visit www.MarilynMessenger.com for the full report and to view a SlideShare presentation showing median sale prices for the nearby towns of Concord, Stow, Sudbury, and Wayland.
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Interest rates are going up again so now is the time to make your move. Whether you are a buyer, seller, or both having the right agent/broker navigating you through the process and negotiating on your behalf will make a big difference. Call Marilyn Messenger at 508-695-3501.

Connect with Marilyn Messenger on Google+

"Fiscal Cliff" Real Estate Extenders

"Fiscal Cliff" legislation passed. Here are some of the details that effect real estate (from the National Association of Realtors website). Good news for most homeowners, especially people who are in need of a short sale or are going to end up in foreclosure, and people who are planning to buy a home.

Real Estate Tax Extenders:

• Mortgage Cancellation Relief is extended for one year to Jan. 1, 2014
• Deduction for Mortgage Insurance Premiums for filers making below $110,000 is extended through 2013 and made retroactive to cover 2012
• 15-year straight-line cost recovery for qualified leasehold improvements on commercial properties is extended through 2013 and made retroactive to cover 2012
• 10 percent tax credit (up to $500) for homeowners for energy improvements to existing homes is extended through 2013 and made retroactive to cover 2012.

Click here to see more details and please contact me if you have questions about home buying or selling.

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Maynard Housing Market Report - More Sales; Lower Inventory

Summary: The number of closed sales of single family homes in Maynard continues to increase over 2011. Median and average sale prices were lower than in 2011. 

The number of homes on the market also continues to decline. Lower prices make this a good time for serious buyers who would like to live in Maynard to buy.

Fewer homes on the market makes this a good time for homeowners who are serious about selling their home to list while there is less competition from other properties.

Current: There are 47 single family homes for sale in Maynard; last year there were 65. The median list price is $299,000. Last year at this time the median list price was $274,900. Interesting that list prices are higher than last year when sold prices during September and YTD were lower. Click to see current homes for sale in Maynard.

Pending Sales: Pending sales were up in August. There were 14 single family homes in Maynard sales pending in August 2012; up from 8 in August 2011. The median list price for sales pending was $324,900; last year it was $327,450.

Closed Sales September 2012: there were 11 closed sales of single-family homes in Maynard during September 2012; up from 9 during September 2011. The median sale price was $285,000. The median sale price in September 2011 was $339,000.

Y-T-D through September 30: Closed sales were up in Maynard for the first nine months of 2012; there were 85 compared with 63 for the same period in 2011. The 2012 median sale price was $270,000; 10.5% less than in 2011.

Condominiums (Including Townhouses and Garden-style): Condominium sales and prices were up in Maynard during September. There were 7 closed sales; there was only 1 in September 2011. The median price was $216,435.

Year-to-date sales and prices are both lower than last year. 22 closed sales compared with 20 for the same period in 2011. The median price was $199,000; down from $242,000.

Current: there are 16 condominiums for sale in Maynard with prices ranging from $119,000 for a bedroom garden apartment-style to $349,999 for age restricted new construction townhouses.

Prices at the established townhouse communities of DeerHedge Run, Apple Ridge and Oak Ridge range from $189,000 to $238,000. Townhouses at these developments are renting for as much as $1,800 per month so it can actually be less expensive to own a townhouse than to rent, especially when including tax deductions and potential price appreciation - during the peak, these sold for over $300K. Click for condominiums for sale in Maynard.

Get the latest market information about for Maynard, Wayland, Sudbury, Stow, and Axton at www.marilynmessenger.com

Buy or Rent? Must Ask Questions To Help You Decide

Whether you should buy or rent a home depends on your wants, needs, priorities, short and long term goals. Given the option, most people still prefer to own, especially these days when rents have gone up and mortgage rates have gone down. The decision is not only financial, but in fact, most people buy for quality of life reasons.

Here are some must ask questions to answer before you decide:

1)      What are your short and long term plans?

2)      What type of house do you want?

3)      What community do you want to live in?

4)      What is the upfront cost?  Down payment that goes toward the purchase price vs. security deposit, first and last month rent, rental agent fee.

5)      What is the actual after tax cost?

6)      How often do you want to move? A landlord can decide to sell the property at the end of your lease term end do you want to move after a year? What if you have children in school and there aren’t any rentals in that school district?

7)      Do you have a pet(s)? Many landlords do not allow any pets.

8)      How important is control over your living space?

9)      Do you like to decorate? You can’t change a rental; and why would you want to spend money on someone else’ property?

10)   How do you feel about paying your landlord’s mortgage/expenses, building some else’ wealth?

Ask a question, Search for Homes, Get market information about Wayland, Sudbury, Maynard, Stow, Acton, and more...

Maynard Real Estate - Sales Up; Prices and Inventory Lower

Closed and Pending Sales were higher in August 2012
than in 2011; Sales also up Y-T-D

Summary: The number of closed sales of single family homes in Maynard continues to increase over 2011. Median and average sale prices were lower than in 2011. And, the number of homes on the market continues to decline. Lower prices make this a good time for buyers; while fewer homes for sale make this a good time for home sellers as long as they price their homes correctly.
Current: There are 49 single family homes for sale in Maynard; last year there were 62. The median list price is $284,900; the average is $278,440. Last year at this time the median list price was $282,400; the average was $296,141. Click to see current homes for sale in Maynard.
Pending Sales: Pending sales were up in August. There were 14 single family homes in Maynard sales pending in August 2012; up from 8 in August 2011. The median list price for sales pending was $324,900; last year it was $327,450.
Closed Sales August 2012: there were 12 closed sales during August 2012; up from 7 during August 2012. The median sale price was $231,500. The median sale price in August 2011 was $355,000.
Y-T-D through August 31, 2012: Closed sales were up in Maynard for the first eight months of 2012; there were 74 up from 63 for the same period in 2011. The 2012 median sale price was $269,750; 10.3% less than in 2011.
Condominiums (Including Townhouses and Garden-style): Condominium sales and prices were up in Maynard during August. There were 3 closed sales; there were 2 in August 2011. The median price was $203,900; up from $179,500 in August 2011.
Year-to-date sales and prices are both lower than last year. 15 closed sales compared with 19 for the same period in 2011. The median price was $195,000; down from $244,000. Click for condominium listings in Maynard.

Current: there are 16 condominiums for sale in Maynard with prices ranging from $49,900 for a bedroom garden apartment-style to $349,999 for age restricted new construction townhouses. Prices at the established townhouse communities of Deer Hedge Run, Apple Ridge and Oak Ridge range from $199,000 to $238,000 – townhouses those developments were selling for over $300,000 during the peak, so they are an excellent opportunity for buyers looking for easy living.
See the latest report from the Greater Boston Association of Realtors.
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Get the latest market reports for Maynard, Sudbury, Wayland, Acton, and Stow MA at www.MarilynMessenger.com.