North Waltham Ranch

36 Hemlock Ter Waltham, MA

Great opportunity to own a 3 bedroom home at the end of a quiet street in excellent North Waltham/Bentley College area neighborhood. This home could use cosmetic updates but there are hardwood floors throughout under carpet, most windows have been replaced, and driveway was paved 2 years ago. Dry, partially finished basement with half bath could make great additional living space.


More Information


List Price: $359,900
Style: Ranch
Total Rooms: 5
Bedrooms: 3
Fireplaces: 1
Grade School: NortheastBathrooms: 1f 1hMiddle School: Kennedy:High School: Waltham High
Neighborhood/Sub-Division: North Waltham/Bentley College

Market Snapshot - Natick & Wellesley March 2012

The spring market has begun with many more new listings and we are seeing homes receive multiple offers. Below is a quick snapshot of market activity in Natick and Wellesley.


New Listings in Wellesley

150 Oakland St $1,399,000
47 Martin Rd $719,000
12 Madison Rd $825,000
99 Pilgrim Rd $1,945,000
106 Bristol Rd $1,775,000
15 River Glen Rd $1,095,000
5 Bemis Rd $899,000
175 Weston Rd $920,000
1 Fletcher Rd $2,175,000
42 Bay View Rd $799,000
12 Longfellow Rd $1,375,000
158 Winding River Rd $1,690,000
16 Hobart Rd $1,975,000
9 Vane St $979,000
161 Forest St $1,650,000
14 Bird Hill Ave $1,299,000
26 Fells Rd $1,375,000
38 River Glen Rd $2,495,000


New Listings in Natick

18 Farm Hill Rd $749,000
27A Stacey St $469,000
35 Hardwick Rd $479,900
5 Stagg Dr $299,900
13 Reynolds Ave $419,000

Recently Sold (past week) - Wellesley

14 Wilde Rd - Sold $799,000
3 Upson Rd - Sold $325,000
58 Nowrich Rd - Sold $1,040,000
62 Leighton Rd - Sold $1,200,000
2 Mayo Rd - Sold $1,510,000
103 Washington St - Sold $957,000

Recently Sold (past week) - Natick

33 Coachman Ln - Sold $627,500
4 West St - Sold $250,000

Condos vs. Single Family Homes - Which to Buy?

With interest rates at record lows and more properties to choose from as the spring market picks up, there is no doubt that it is a good time to buy. In lots of cases, condo and single family home prices are comparable, so buyers have to make the decision of which type of home to buy. Here are a few of the pros and cons:

Benefits of Buying a Condo

• Less maintenance and upkeep than a single family house
• Landscaping and snow removal are often included
• Many complexes offer amenities like pools, fitness centers, and other common spaces
• Location: sometimes condos are an only option in convenient urban areas

Downside of Condo Ownership

• Condo fees can significantly increase the cost of ownership
• Association approval required for certain projects and/or improvements
• Shared decision making on how condo fees are spent   
• Less appreciation in value than single family homes, making it more difficult to resell, especially when buying a new or newly renovated unit
• Financing can sometimes be more difficult in complexes with a low owner-occupancy rate

Pros of Purchasing a Single Family Home

• Control over the property and any changes or improvements
• No condo fees
• Better resale value than condos
• Usually more space, particularly outdoors, and more privacy

Cons of Owning a Single Family Home

• Owner is responsible for all maintenance, repairs, and improvements, which can be costly and time-consuming
• Often more expensive than condos
• Utility bills can be higher because there is often more space
• Purchase price is usually higher, especially in more expensive towns

The decision really comes down to a matter of lifestyle, personal preference, and how long the buyer plans to stay in the property. There are lots of great options available right now for single family homes, condos, and multi-families.

Don't Buy This House!

Every day, I see lots and lots of listing descriptions. Most use their 200 words to take advantage of the many adjectives available to highlight a home's better qualities - if it's a "majestic, sprawling, newly renovated estate", you can usually expect a decent property (even if the "estate" is under a thousand square feet). But what about when you should "come to are open house to see the custome cabinets with granit countertops, new vynal siding, included home warrantee and alot of possibilyties for apartyments"? The one blurry picture taken with a cell phone makes it hard to tell whether there's a house on the property or not.

Please, State of Massachusetts, make the real estate exam harder and throw in a writing component so the rest of us don't look bad!

First Sales of 2012 in Metrowest

In Natick, Wellesley, and Newton, 19 single family homes have sold so far this year for an average of $909,039, up from an average sale price of $770,168 during the first 12 days of 2011. While this is a very small sampling, it shows a great start to the year these towns, and with interest rates currently at an all time low of 3.65% for a 30 year fixed more buyers are on the market. 

Here are the first sales of the year:

65 Indian Ridge Rd Newton: $1,175,000

13 Heckle St Wellesley: $670,000

147 Woodcliff Rd Newton: $479,000

48 Water St Natick: $682,000 

59 Stuart Rd Newton: $716,000

253 Crafts St Newton: $566,000

30 Trowbridge Ave Newton: $1,360,000

42 Goddard St Newton: $497,500 

24 Berkeley Rd Wellesley: $747,500

6 Manor Ave Wellesley: $550,000

37 Levbert Rd Newton: $886,000

27 Alexander Rd Newton: $538,000

48 Ridge Hill Farm Rd Wellesley: $3,724,000

49 Walker St Newton: $557,000

26 Mandalay St Newton: $1,910,000

145 Morton St Newton: $818,750

8 Sessions St Wellesley: $800,000

2 Yorkshire Dr Natick: $485,000

17 Marion St Natick: $110,000

www.torykeithrealestate.com

Decorating for the holidays

A few decorating ideas for the season... 

Happy holidays!

Multi-Family Properties in Natick, Wellesley, and Newton

With sale prices and mortgage rates at a low and rents on the increase, more and more people are buying rental properties. While it can be difficult for a new investor to get financing on a property that is not a primary residence, cash buyers, owner-occupants, and those with a history of rental income or sufficient income to qualify for more than one mortgage if necessary, can do very well both in the short term and long term with multi-family homes. Rental income can provide immediate cash flow, while buying at the bottom of the market, particularly a property that has room for improvement, can generate a profit when sold years later.

In Natick, Wellesley, and Newton, the average sale price of a multi-family property increased 8% from an average of $528,000 in 2010 to $571,000 in 2011 (not accounting for sales that could take place during the 23 days left of the year). Still, there are good deals out there, particularly for anyone with the resources to handle a fixer-upper. 36 multi-families are currently on the market in these towns, from 2-family homes to mixed use buildings.

The following is a great calculator to determine return on investment, taking several factors into account: http://www.goodmortgage.com/Calculators/Investment_Property.html

For more information, please find my contact information as well as search for properties at www.torykeithrealestate.com.