North Shore Notes

 

"The era of easy money is over. You really have to think before you go out and decide you need that five-bedroom, five-bath home," There is a definite trend towards smaller homes. This Wall Street Journal article describes this growing trend. Read The article Here:  http://online.wsj.com/article/SB10001424052748704509704575019462787197650.html?mod=djemRealEstate

 

South Hamilton, Hamilton  -  Hamilton's hidden gem has sold! Located on the Hamilton's last residential subdivision buildout, this magnificent contemporary home has been purchased by a prominent local CEO. Special thanks to Sotheby's International for partnering with us in the sale.

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We all got used to scrutinizing the words of Alan Greenspan and trying to interpret every nuance of his oracular utterances for a hint to what the future rates would be. Ben Bernanke has been a bit more straightforward but watched with no less intensity. Investors are fairly certain that rates will remain low for the near term - but are intensely looking for tips on when they will rise. CNBC outlines the process in this article 

Under water homeowners may not qualify for a mortgage modification and the banks have been fairly stingy with modifications. An alternative to foreclosure is the short sale. Short sales have been a logistical nightmare and glacial in time of execution. Recognizing this, the Obama Administration is putting together a plan to make short sales more viable. This article in Banker and Tradesman outlines the proposed changes.

Every once in awhile I stumble upon a really useful website. The Family Watchdog Website is just such a site. It is an excellent national registry for sex offenders. In my area finding where convicted sex offenders reside is often a difficult task - even on the web. Family Watchdog makes it simple with an address search and interactive map with the places offenders live mapped and clickable. A photo and details of the offender's criminal history is readily available. More than a registry, Family Watch Dog also provides important info like Consumer Recalls, and Background Checks and more, I reccomend it to families that are seaching for a new home.

Existing 'For Sale' housing inventory is ready to balloon over the next 2 years. An article in the November 19th Wall Street Journal takes a good look at the challenges for housing in the near term. Builders are gloomy. An estimated 7 million new foreclosures are set to hit in the next 24 months. Take a moment and let me know what you think of this article

 

 

Manchester surely has the most magnificent homes on the North Shore, Seagate is one extraodinary property. Call me for a showing!  Check this Video of Seagate offered at north of $8MM   check out the Video:  ! Seagate

Fema is studying and updating it's flood maps. The good news is that the 20-30 year old paper maps will be replaced with digitalized and easier to seach versions. What could be bad news for property owners is that the updated maps may change and property owners will find themselves in a new zone with a requirement to have flood insurance. Flood insurance can be very expensive and / or difficult to obtain. In Massachusetts the new maps are being implemented on a county by county process. It behooves the homeowner to find out as early as possible if their status is going to change. Acting before the new map is finalized will allow a homeoner to be grandfathered under National Flood Insurance Program, created in 1968. The  Boston Globe published an informative article about the proces - READ IT HERE

In a special Town Meeting the residents of Ipswich voted by a vast majority to  protect the property known as Maplecroft Farm in perpetuity. The nearly 250 acre property is considered the crown jewel of the Ipswich Open Space Committee. Most residents of the area consider the move as a visionary investment in the town's future. Others feel that more active recreational usage should be part of the deal with the Raymond family. Some nay sayers see it as a sort of 'bailout' for the wealthy owner, Ted Raymond. Here is some info on Maplecroft Farm

Powered by Congoo Search. My new service aggregates news articles on the real estate and mortgage industry as well as a 'Fed Watch' feature. The articles are far reaching and sophisticated. I think you will enjoy it. CHeck it out at:   http://www.congoo.com/poolerrealestate

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Ipswich, Essex County  -  MOTVATED SELLER SLASHES PRICE! We invite everyone to visit our open house at 15 Lakemans Ln on September 27 from 1:00 PM to 2:30 PM.

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South Hamilton, Hamilton  -  We invite everyone to visit our open house at 64 Autumn Ln on September 13 from 1:00 PM to 2:00 PM. This home features a first level master suite and an exciting home studio that lends itself to many possibilities including a home office, artist's or craftman's space. Check it out at http://www.64AutumnLane.com. Prepare to be delighted!

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Famed renovation consultant, Bruce Irving recently came to visit our listing at 153 Argilla Rd in Ipswich MA. and declared it one of the best preserved, privately owned First Period homes in the country! He shares his appreciation for this special property and has declared it his 'Property of The Month'  This house is not for eveyone - but it a treasure that will not stay on the market much longer!

Ipswich, Essex County  -  Announcing a price reduction on 15 Lakemans Ln, a 3,301 sq. ft., 3 bath, 4 bdrm single story. August First New Price in Effect!  MLS® $969,000 - .

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• 1,644 sq. ft., 1 bath, 3 bdrm single story - MLS® $399,000

South Hamilton, Hamilton  -  Subtle yet sophisticated this one level home offers an easy lifestyle. Newly renovated kitchen and bath. New windows 2005. Recent interior and exterior paint. Charming fireplaced living room and dining room with built-ins.Gleaming hardwood floors Vaulted sun room serves as a pleasant entry as well as mudroom. Private yard ideal for entertaining.Exceptional corner lot in a great neighborhood! Verizon Fios Broadband.

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