New codes and regulations from the State Fire Marshall may make passing the required smoke inspection even more confusing then before. If you are currently selling your home or plan to sell in the near future the new code will apply to you now as well as in the future. Every home that is to be sold in Massachusetts will need to pass a smoke detector inspection preformed by the local fire department. Owners and real estate agents have long struggled with the correct placement of detectors as well compliance of additional regulations of the code. This new code may only add to the confusion.
The updated code requires that homes install photoelectric smoke detectors throughout the property. Photoelectric detectors measure light, or the lack of light in a certain area. The change in light can be measured at a distance while in order to trigger a ionized detector the smoke must physically enter the detector to trigger the alarm. The idea of using a photoelectric smoke detector is that the detector will sense visible smoke particles quicker then an ionized detector. Smoke particles accumulate in a slow smoldering fire, which is common in household fires started on furniture or in a bed. The down fall is that photoelectric detectors tend to be larger then typical detectors and more importantly, they are much more expensive.
Photoelectric smoke detectors are less sensitive then the popular ionized version. In the past Ionized detectors have been known to trigger the alarm from steam or even stovetop cooking. For this reason, if the home has ionized detectors they cannot be placed within 20 feet of a bathroom or kitchen to avoid false alarms. Outside of the 20 feet, a combination detector of both ionized and photoelectric detector is required. Correct placement of both smoke detectors and carbon monoxide detectors include: within 10 feet of each bedroom, base of the each set of stairs and one on each finished level. Carbon monoxide detectors are only required in homes that use fossil burning fuel such as gas or oil, as well as homes that have a fireplace. Homes or condo’s that are solely electric and do not have a fireplace will not require a carbon monoxide detector in addition to the required smoke detectors.
Although this new code does not go into affect until January 1st, 2010 many home owners may experience this change immediately.
If you are looking to sell a home in Quincy MA, Weymouth MA, Braintree MA or the entire South Shore Massachusetts call Madelene Semeria at (617) 894-1124 or visit http://www.Ma-HomesForSale.com
Showing posts with label quincy ma homes for sale. Show all posts
Showing posts with label quincy ma homes for sale. Show all posts
Monday, April 6, 2009
With low home prices, falling interest rates and FREE MONEY, Why Aren’t More First Time Home Buyers Taking Advantage?
Calling the current real estate market a “buyers market” is an understatement! Low interest rates, dropping house prices and most importantly a federal tax credit offered to first time home buyers. Recent changes in the economic stimulus bill offers first time home buyers a tax credit of up to $8000, which does not need to be repaid. The original tax credit offered to first time buyers was more of an interest free loan; however recent changes have increased the tax credit as well as lifted the need to repay the money. “I am surprised that more first time home buyers are not taking advantage of this great opportunity,” states Madelene Semeria a local Quincy Realtor working for Century 21 Abigail Adams.
The tax credit is applicable on the purchase of a primary residence on or after January 1st, 2009 and before December 1st, 2009. The credit is only offered to first time home buyers, which is identified as any purchaser (and purchase’s spouse) who has either never owned a property or who has not owned a primary residence in the past 3 years prior to the purchase. This option opens up the opportunity to buyers who may have sold their property in the past and were unable to buy a home in the past few years when prices began to skyrocket. Applying for and receiving the credit is a seamless addition when filing your taxes, since it will simply be claimed on the tax return. It is suggested that first time home buyers consult a tax professional before applying for this tax credit.
While the tax credit available is up to $8000, or 10% of the home’s value, some income limits do apply. For a married couple the combined income cannot exceed $150,000 in order to qualify. The availability of this tax credit is an outstanding opportunity for buyers. This additional money can be used to help furnish the new home or to make wanted improvements. First time home buyers should not miss out on their window of opportunity to receive this credit, which is truly a gift.
Current homeowners looking to make energy efficient improvements to their current property may also be eligible for a tax credit. An additional aspect of the stimulus bill includes a tax credit of 30% of the cost of the improvements, not to exceed $1500, for any energy efficient improvements. The type of improvements eligible for this credit include: energy efficient insulation, heating/cooling units, doors and windows. Again, it is recommended that you discuss these items with a tax professional in order to maximize your return. For more information on the current real estate market or for help buying a home in Quincy, contact Madelene Semeria at (617) 894-1124. You can also obtain additional information by visiting her website at http://www.ma-homesforsale.com/. Madelene has worked in the local real estate market for the past 5 years and specializes in helping first time home buyers find their dream home.
The tax credit is applicable on the purchase of a primary residence on or after January 1st, 2009 and before December 1st, 2009. The credit is only offered to first time home buyers, which is identified as any purchaser (and purchase’s spouse) who has either never owned a property or who has not owned a primary residence in the past 3 years prior to the purchase. This option opens up the opportunity to buyers who may have sold their property in the past and were unable to buy a home in the past few years when prices began to skyrocket. Applying for and receiving the credit is a seamless addition when filing your taxes, since it will simply be claimed on the tax return. It is suggested that first time home buyers consult a tax professional before applying for this tax credit.
While the tax credit available is up to $8000, or 10% of the home’s value, some income limits do apply. For a married couple the combined income cannot exceed $150,000 in order to qualify. The availability of this tax credit is an outstanding opportunity for buyers. This additional money can be used to help furnish the new home or to make wanted improvements. First time home buyers should not miss out on their window of opportunity to receive this credit, which is truly a gift.
Current homeowners looking to make energy efficient improvements to their current property may also be eligible for a tax credit. An additional aspect of the stimulus bill includes a tax credit of 30% of the cost of the improvements, not to exceed $1500, for any energy efficient improvements. The type of improvements eligible for this credit include: energy efficient insulation, heating/cooling units, doors and windows. Again, it is recommended that you discuss these items with a tax professional in order to maximize your return. For more information on the current real estate market or for help buying a home in Quincy, contact Madelene Semeria at (617) 894-1124. You can also obtain additional information by visiting her website at http://www.ma-homesforsale.com/. Madelene has worked in the local real estate market for the past 5 years and specializes in helping first time home buyers find their dream home.
Monday, August 11, 2008
Condo Fees in Quincy MA - Edgewater Place, The Falls, Mellon Bray, Louisburg Square
Many condo unit owners question the condo fee and how their fee compares to other complexes in the area. Below is some information pertaining to the condo fee on similar complexes in Quincy. The condo fee for each of the complexes below include only the basic items: master insurance, landscaping, snow removal and water.
Louisburg Square Condo Fees: range from $284-$469. The condo fee averages $0.22 - $0.24 per square foot.
The Falls, located at 200 Falls Blvd. Unique complex, very similar to Louisburg with pool, clubhouse, pet friendly, wood burning fireplaces in every unit and outdoor parking lot: Averages $0.42 - $0.50 per square foot. $324 for a unit with 779 square feet and $575 for a unit with 1205 square feet
15 Bower Rd Condo Fees: This complex is consists of low-rise 3 story buildings and is also a pet friendly complex. $255 for a unit with 1028 square feet. The average condo fee is $0.25 per square foot which is comparable to that of Louisburg.
Edgewater Place located at 133 Commander Shea Blvd – This complex is a high-rise building that offers pool and outdoor parking. Averages $0.41 per square foot. $341 for a unit with 760 square feet.
Mellon Bray, located at 10 Weston Ave Condo Fees: This complex is an old mill that was converted to a condo complex. The complex is well maintained, pet friendly and has covered parking. Averages $0.23 - $0.25 per square foot. $268 for a unit with 1165 square feet.
Louisburg Square Condo Fees: range from $284-$469. The condo fee averages $0.22 - $0.24 per square foot.
The Falls, located at 200 Falls Blvd. Unique complex, very similar to Louisburg with pool, clubhouse, pet friendly, wood burning fireplaces in every unit and outdoor parking lot: Averages $0.42 - $0.50 per square foot. $324 for a unit with 779 square feet and $575 for a unit with 1205 square feet
15 Bower Rd Condo Fees: This complex is consists of low-rise 3 story buildings and is also a pet friendly complex. $255 for a unit with 1028 square feet. The average condo fee is $0.25 per square foot which is comparable to that of Louisburg.
Edgewater Place located at 133 Commander Shea Blvd – This complex is a high-rise building that offers pool and outdoor parking. Averages $0.41 per square foot. $341 for a unit with 760 square feet.
Mellon Bray, located at 10 Weston Ave Condo Fees: This complex is an old mill that was converted to a condo complex. The complex is well maintained, pet friendly and has covered parking. Averages $0.23 - $0.25 per square foot. $268 for a unit with 1165 square feet.
Wednesday, August 6, 2008
Louisburg Square Quincy Condo Sales Data
A common topic on everyone’s mind these days is real estate. Talks of a declining market and possible recession has everyone on edge. But what does this mean to homeowners in Louisburg Square? The average sales price of condo units in Louisburg dropped 10% in 2007 from 2006. Research shows that the worst may be behind us, with 2008 sales prices estimated at a 1 - 2% drop from 2007. Buyers have access to a plethora of information through the internet and are well educated on current home values. Sellers have reacted to this by pricing their units slightly lower than years past in order to compete in today’s market. Homeowners that are looking to sell their unit should also take into consideration that on average, the actual sale price of a unit will be 3% - 5% lower than the asking price.
“The market has seen an increase in buyer activity since the beginning of April, which is a positive sign that the market is ready to rebound,” stated by Madelene Semeria resident of Louisburg Square and real estate agent for Century 21 Abigail Adams. Units that are currently on the market are experiencing a market time of 6 months. Sales in Louisburg have been stale over the past few months with the last sale occurring in Dec 2007. In the past three weeks, 2 units in our development have accepted offers to purchase and are scheduled to close by the end of May. Louisburg continues to be a desirable complex and the rest of 2008 looks bright!
Current Sales Data:
Number of Units Currently on the Market: 7
Median List Price for units currently on the market: $323,400
Sales History:
Median Sale Price 2007: $304,750
Median Sale Price 2006: $338,000
Median Sale Price for a 2 BR unit in 2007: $302,500
Median Sale Price for a 2 BR unit in 2006: $336,500
Median Price per Square Foot: $215 - $220
Information Provided By: Madelene Semeria real estate agent for Century 21 Abigail Adams.
“The market has seen an increase in buyer activity since the beginning of April, which is a positive sign that the market is ready to rebound,” stated by Madelene Semeria resident of Louisburg Square and real estate agent for Century 21 Abigail Adams. Units that are currently on the market are experiencing a market time of 6 months. Sales in Louisburg have been stale over the past few months with the last sale occurring in Dec 2007. In the past three weeks, 2 units in our development have accepted offers to purchase and are scheduled to close by the end of May. Louisburg continues to be a desirable complex and the rest of 2008 looks bright!
Current Sales Data:
Number of Units Currently on the Market: 7
Median List Price for units currently on the market: $323,400
Sales History:
Median Sale Price 2007: $304,750
Median Sale Price 2006: $338,000
Median Sale Price for a 2 BR unit in 2007: $302,500
Median Sale Price for a 2 BR unit in 2006: $336,500
Median Price per Square Foot: $215 - $220
Information Provided By: Madelene Semeria real estate agent for Century 21 Abigail Adams.
Monday, June 2, 2008
How to spot a good buy when looking for a home
With talks for a declining real estate market many buyer are looking for the perfect house for a good buy
HOW TO SPOT A GOOD BUY...
One of the most attracting features of a home is the price. Finding a home that will retain its value in today’s market is vital. 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?
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! With the number of foreclosure homes and short sales rising, many homes are selling for lower than they have in years. My advice, “DO YOUR RESEARCH.” 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.
HOW TO SPOT A GOOD BUY...
One of the most attracting features of a home is the price. Finding a home that will retain its value in today’s market is vital. 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?
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! With the number of foreclosure homes and short sales rising, many homes are selling for lower than they have in years. My advice, “DO YOUR RESEARCH.” 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.
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