TTC_12_27_17_Vol.14-No.09.p1-12
TTC_12_27_17_Vol.14-No.09.p1-12.pdf
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Community Connections<br />
Page 6 www.TheTownCommon.com December <strong>27</strong>, 20<strong>17</strong> - January 2, 2018<br />
GiuseppesFineFood.com<br />
New Dining Room<br />
Full Bar<br />
Italian Deli & Marketplace<br />
Take out<br />
Grab & Go<br />
Party Trays<br />
978-465-2225<br />
257 Low St . Newburyport<br />
sold single Family Homes<br />
Address, Town Description DOM List Price Sold For Orig Price<br />
59 Grove St, Essex 6 room, 3 bed, 1f 0h bath Colonial 88 $225,000 $150,000 $299,000<br />
92 Prospect St, Amesbury 8 room, 4 bed, 2f 0h bath Antique 22 $299,900 $305,000 $299,900 257 Low St<br />
46 Pike St, Salisbury 5 room, 2 bed, 1f 0h bath Ranch 50 $319,900 $305,000 $319,900 Newburyport<br />
9 Lakeside Terr, Amesbury 6 room, 3 bed, 2f 1h bath Colonial <strong>27</strong> $325,000 $320,000 $349,900<br />
15 Orchard St, Merrimac 7 room, 4 bed, 2f 0h bath Farmhouse 21 $359,828 $366,000 $359,828<br />
37 Lime St, Newburyport 6 room, 3 bed, 1f 1h bath Colonial 79 $375,000 $340,000 $389,000<br />
19 Ash St, Amesbury 978-948-86965 room, • www.thetowncommon.com 2 bed, 2f 0h bath Ranch 36 • $379,000 advertise@thetowncommon.com<br />
$362,000 $405,000<br />
11-15 Church St, Rowley 8 room, 4 bed, 2f 0h bath Cape 38 $419,000 $410,000 $419,000<br />
226 Elm St, Amesbury 6 room, 3 bed, 2f 1h bath Cape 18 $419,900 $419,900 $419,900<br />
2 Garnet St, Newburyport 6 room, 3 bed, 1f 0h bath Cape <strong>27</strong> $475,000 $458,000 $475,000<br />
90 Forest St, Hamilton 6 room, 4 bed, 2f 0h bath Cape 52 $449,900 $439,000 $475,000<br />
26 Forest Ave, Essex <strong>12</strong> room, 4 bed, 2f 0h bath Colonial 28 $469,000 $460,000 $489,000<br />
189 Low St, Newburyport 8 room, 3 bed, 2f 1h bath Cape 40 $525,000 $525,000 $525,000<br />
28 County Rd, Essex 7 room, 3 bed, 2f 0h bath Colonial 22 $529,000 $500,000 $529,000<br />
15 Ashland Ct, Newburyport 6 room, 4 bed, 2f 0h bath Colonial 400 $544,900 $532,500 $544,900<br />
308 Asbury St, Hamilton 9 room, 4 bed, 2f 1h bath Colonial 1<strong>12</strong> $524,900 $524,900 $549,000<br />
53 Maple St, Wenham 7 room, 3 bed, 1f 1h bath Ranch 84 $449,900 $425,000 $549,900<br />
58 Bridge St, Hamilton 6 room, 3 bed, 1f 1h bath Colonial 25 $565,000 $575,000 $565,000<br />
10 Winsor Ln, Topsfield 7 room, 3 bed, 2f 1h bath Ranch 79 $530,000 $520,000 $575,000<br />
92 Depot Rd, Boxford 9 room, 3 bed, 2f 1h bath Ranch 23 $589,900 $6<strong>12</strong>,500 $589,900<br />
<strong>17</strong>0 Lakeshore Rd, Boxford 7 room, 3 bed, 2f 0h bath Ranch 206 $549,900 $505,000 $599,900<br />
20 Hilltop Cir, West Newbury 8 room, 4 bed, 2f 1h bath Contemporary 20 $600,000 $615,000 $600,000<br />
98 Martin St, Essex 9 room, 4 bed, 2f 1h bath Other 89 $549,000 $550,000 $619,000<br />
7 Paddock Ln, Hamilton 8 room, 3 bed, 2f 0h bath Saltbox 42 $625,000 $610,000 $625,000<br />
2 Red Coach Rd, Hamilton 8 room, 4 bed, 2f 1h bath Colonial 108 $565,000 $530,000 $639,000<br />
14 Herrick Dr, Ipswich 10 room, 4 bed, 2f 1h bath Colonial 70 $625,000 $604,000 $649,900<br />
24 Johnson St, Newburyport 7 room, 3 bed, 2f 1h bath Colonial 91 $649,900 $625,000 $649,900<br />
8 Highwood Ln, Ipswich 6 room, 3 bed, 2f 2h bath Contemporary 91 $699,000 $670,000 $699,000<br />
15 Worths Ln, West Newbury 9 room, 3 bed, 2f 1h bath Colonial 84 $685,000 $649,900 $699,900<br />
716 Main St, West Newbury 8 room, 4 bed, 2f 1h bath Colonial 113 $699,900 $699,900 $729,900<br />
46 Brookview Rd, Boxford 9 room, 3 bed, 2f 1h bath Contemporary 68 $799,000 $799,000 $799,000<br />
41 Maple Ave, Boxford 10 room, 4 bed, 2f 1h bath Colonial 19 $850,000 $850,000 $850,000<br />
66 Rockmaple Ave, Hamilton 8 room, 4 bed, 3f 1h bath Colonial <strong>17</strong>7 $849,500 $849,500 $879,900<br />
18 High Rd, Newbury 13 room, 5 bed, 5f 0h bath Victorian <strong>17</strong>3 $1,399,900 $1,323,000 $1,399,900<br />
39 William Fairfield Dr, Wenham 10 room, 4 bed, 4f 0h bath Colonial 162 $1,290,000 $1,160,000 $1,495,000<br />
288 High St, Newburyport <strong>12</strong> room, 6 bed, 5f 1h bath Farmhouse <strong>17</strong>3 $1,799,288 $1,675,000 $1,799,288<br />
239 Middle Rd, Newbury <strong>12</strong> room, 4 bed, 3f 1h bath Shingle 163 $1,999,950 $1,809,000 $1,999,950<br />
Single Family Listings: 37 Avg. Liv.Area SqFt: 2,442.57 Avg. List$: $648,929 Avg. List$/SqFt: $261<br />
Avg. DOM: 84.32 Avg. DTO: 55.54 Avg. Sale$: $623,624 Avg. Sale$/SqFt: $251<br />
20<strong>17</strong> MLS Property Information Network, Inc.<br />
For<br />
Sale<br />
Business Spotlight<br />
Real Estate • For Sale<br />
Why is This Back on the Market?<br />
Sports • Sports • Sports<br />
By John McCarthy, Rowley Realty<br />
I recently had a buyer I had been the listing agent would be required of a good appraisal wont’ allow<br />
working with call me on a home Pets, by law and our Animals, code of ethics to the buyer Plus to get financing so that<br />
that just came back on the market. tell us if that was the case. I also contingency can be referenced<br />
Naturally he wanted<br />
New<br />
to know<br />
Dining<br />
why.<br />
Room<br />
mentioned that there are a number when withdrawing an offer.<br />
I called the listing agent and Full her Health Barof reasons why a buyer & would Fitness<br />
back Sometimes a bank will allow the<br />
response was that the buyer’s got out of a deal, and although the buyer to make up the difference in<br />
“cold feet”. My buyer found<br />
Italian<br />
that<br />
Deli<br />
home<br />
&<br />
inspection is a common cash, order another appraisal or try<br />
hard to believe and thought Marketplace for cause many buyers do simply get to convince the appraiser that the<br />
sure there was an issue during the cold feet.<br />
comparable sales they used aren’t<br />
home inspection. I told him<br />
Take<br />
that<br />
out<br />
When pending sales go back on true and supply others in the hope<br />
Grab & Go the market it naturally arouses as that they change the value. you<br />
to what went wrong? everyone could also ask the seller to accept<br />
Party Trays<br />
notices when a for sale sign goes up the (lower) price that the appraiser<br />
in the neighborhood and everyone came up with. If none of these<br />
978-465-2225 also notices when that “Under fixes work than the sale will fall<br />
Agreement” comes down and the apart.<br />
GiuseppesFineFood.com “For Sale” sign is left standing. Financing<br />
Here are the most common Buyers may have run into an<br />
reasons pending home sales come issue between getting preapproved<br />
back on the market.<br />
and getting a commitment<br />
Buyer’s Remorse<br />
from the bank. A job loss, an<br />
It happens. Buyers get “cold<br />
feet”. One thing to keep in mind<br />
is that as a buyer you sign a legal<br />
and binding document when you<br />
make an offer. “Buyer’s remorse” is<br />
NOt a legal reason for withdrawal.<br />
A seller could conceivably take<br />
you to court and force a sale. That<br />
hasn’t been my experience though,<br />
typically a buyer who decides they<br />
don’t want to buy the home will<br />
site a home inspection issue, big or<br />
small as a reason for withdrawal as<br />
a buyers purchase is contingency<br />
on a satisfactory home inspection.<br />
Many buyers who withdraw due<br />
to cold feet are First-time home<br />
buyers who would benefit greatly<br />
from employing the services of an<br />
experienced ReALtOR® who can<br />
walk them through the process of<br />
buying a home.<br />
Home Inspections<br />
Once a home inspector points<br />
out problems in a home some<br />
buyers go into panic mode. All<br />
homes have problems, even<br />
new homes. Home inspectors<br />
nowadays find and point out just<br />
about everything that isn’t exactly<br />
to their liking or to current code<br />
(even though it was when installed<br />
or build). Sometimes buyers ask<br />
that sellers replace these items or<br />
request a financial credit from the<br />
seller as compensation to do the<br />
work themselves. If the seller refuses<br />
to do either of those options, then<br />
the buyer can withdraw and the<br />
home goes back on the market.<br />
Appraisal<br />
The large majority of buyers<br />
need a mortgage to buy your<br />
home. Mortgage companies want<br />
to insure that the home they are<br />
lending on is worth the price the<br />
buyer and seller have agreed to. to<br />
protect the lender’s position, the<br />
lender will ask a buyer to pay for<br />
an appraisal. If the appraisal comes<br />
in less than the sales price the<br />
deal can be voided as most offers<br />
have an appraisal contingency. If<br />
the offer does not have a specific<br />
appraisal contingency the failure<br />
undisclosed financial issue or even<br />
a lien filed against them could<br />
all create a situation where their<br />
loan is denied. As a buyer you<br />
want to avoid big changes to your<br />
credit worthiness like a job change<br />
or large purchases such as a car<br />
while going through the approval<br />
process. Most buyers will get<br />
their financing but some deals<br />
are voided due a change beyond<br />
a buyers control or if that buyer<br />
was not being truthful during the<br />
application process.<br />
Home Sale Contingencies<br />
Some offers are subject to the<br />
sale of the buyers current home.<br />
If that home is not sold during<br />
a specific time frame than it can<br />
create a domino effect. If buyer<br />
falls though, all of the other<br />
transactions contingent upon that<br />
one closing will fall apart, making<br />
those sales go bad.<br />
Depending on the market and<br />
a number of other factors, sellers<br />
may want to retain the right to<br />
kick out a “contingent” buyer and<br />
cancel the contract if another buyer<br />
wants to buy the home without<br />
a contingency. This is typically<br />
called a “kick out clause”.<br />
While the large majority accepted<br />
offers end up in a sale there are<br />
some that do not stay together.<br />
Keep in mind that nothing is final<br />
until the closing and consult with<br />
your ReLAtOR along the way<br />
to make sure all contingencies are<br />
being met. The phrase “it wasn’t<br />
meant to be” can give sellers some<br />
solace in the fact that their sale fell<br />
apart but the knowledge that it is a<br />
“sellers market” and another buyer<br />
is hopefully one call away can<br />
really, really help.<br />
If you have any questions about<br />
this article, real estate in general<br />
or are looking to buy or sell a home<br />
please contact me, John McCarthy<br />
at Rowley Realty, 165 Main St.,<br />
Rowley, MA 01969, Phone: 978<br />
948-<strong>27</strong>58, Cell 978 835-2573 or<br />
via email at john@rowleyrealestate.<br />
com