The Best Houses issues by Fine Homebuilding Magazine are always a treat. Looks like their 2013 edition is out. If you love houses, go ahead, treat yourself.
Despite high buyer demand, existing home-sales fell in March due to a lack of inventory, pushing prices higher. The North Shore is experiencing this trend as is much of the country. Locally, we are seeing multiple offers as buyers compete for a limited number of homes. If you’re planning to buy a home this spring, to be successful, make sure you have your mortgage pre-approval in hand and work with your Realtor to develop a winning strategy.
Have you ever wondered where you can take small amounts of construction debris? Me too! That’s why I was happy to see that the City of Beverly website has a list of facilities that accept demo and construction materials such as bricks, asphalt, wall coverings, drywall, plumbing fixtures, etc.. These are privately-run facilities – not connected with the City – so call ahead for a list of approved materials and prices.
If you love Gloucester (and who doesn’t), you must check out the blog, “Good Morning Gloucester“. Outstanding!
For those of us who are dog-lovers, a house is not quite a home without one underfoot. If you’re lucky enough to work from home, every day is “bring your dog to work” day. Houzz.com highlights homes and their four-footed residents.
Can you guess?
Yes. Well….maybe. How much time do you plan to hold onto an investment property before you sell it? As we’ve seen in the recent housing market, houses don’t always increase in value. Yet, over time – historically – they’ve appreciated. That word “time” is key. Real estate is not a short-term investment.
My husband and I bought a single-family home in Beverly, MA in 1999 for $242,000 and sold it in 2001 for $335,000. It sold again in 2008 for $372,000. Pretty good appreciation….right? Yes, except that we put the proceeds into a new home. And that’s what most people do when they sell their home. You have to live somewhere, and unless you take those proceeds and invest them elsewhere, you’re not realizing the benefit.
On the other hand; if we had bought that house and rented it – we would have realized a nice gain when we sold (after capital gains and maintenance and repair costs).
We bought a three-family rental property in 1996 for $176,000, which now covers the mortgage and throws off an income stream. Zillow.com”s “Zestimate” is currently at $353,225. We bought another 3-family home in 2000 for $235,900, which Zillow estimates is currently worth $352,882. That property also has positive cash flow. Plus, we’ll realize gains when we sell them.
My IRA, on the other hand, is looking about the same as it did thirteen years ago.
If you’ve been dreaming about a home of your own, come see this quaint cottage conveniently located at the edge of a wooded lot. Bird-feeder a short flight away, abundant insects, brush pile for hiding from hawks. New on the market, it shows lots of tender loving care. Entry is reinforced with metal to keep out squirrels and other unwanted prowlers. Wood chips included for nesting. Made for comfortable living. Take a look today!