Tag Archive for: Massachusetts

The State of the Massachusetts Housing Market

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I’m getting a lot of questions about what’s going on with the market. And it’s a great question, with no one specific answer! The drastic increase in home prices we saw last year has had a great many impacts on the process of buying and selling, including the frequency of bidding wars and the amount of cash offers over the asking price. Though the high demand and low inventory remain heavily in play, the Massachusetts housing market is not expected to be as intense as last year’s.

For Buyers:

If you’re a buyer, it’s important to note that interest rates are inching up, and they will probably continue to inch up this year. The average 30-year fixed mortgage rate is now at 5.11%—the highest level since 2010. So what you could have afforded last fall or last summer is likely going to be different than what you can afford now. This means it is important to check in with your lender, get an updated preapproval, and know what you can afford. On a more positive note for buyers, the increase in interest rates has led to a decrease in homebuyer competition for the first time in six months. This will probably, in some cases, lower the amount of multiple offers and over asking bids we’ve been seeing. 

 

According to Redfin, “The drop in homebuyer competition is one sign that the housing market is starting to slow down. Mortgage applications, home tours, and online housing searches are also declining, and more sellers are lowering their asking prices after putting their homes up for sale.”

 

Home Inspections:

Another trend I am seeing, which is good for you buyers, is an uptick in home inspections. I had a property in Salem a few weeks ago which got four offers; three of which had home inspections. Many people chose to waive home inspections in 2021 in order to get an upper hand in buying property, due to the immense competition they were facing from their fellow buyers. Getting a home inspection can protect a buyer not only from costly repairs, but from potentially major structural or safety issues hidden within a property. It is reassuring to see more home inspections being performed, as they can significantly benefit a prospective buyer. You can read more about the benefits of home inspections here. 

For Sellers: 

If you are looking to sell, it is important to note that pricing is still very competitive. Though the large imbalance of supply versus demand is starting to improve, we still have a shortage of housing up here on the North Shore. If a house is being priced appropriately relative to the market, sellers are continuing to get plenty of appropriate offers, many of them over asking. But, just like I said for buyers, that trend may be coming to a slowdown as interest rates tick up. If you’ve been on the fence, this may be the year to strongly consider selling your home while the market is still strongly in your favor. 

Massachusetts Housing Market- In Summary

Although these tips are based on research and my personal experience as a realtor, we don’t know what interest rates will be next year, and we don’t know how inflation is going to impact this market. It is impossible to predict the housing market’s future with 100% accuracy, so it’s most important to base your decisions on your own financial state and needs. 

Whether you are looking to buy or sell, getting in contact with a professional is a great first step. Please reach out with any questions you may have on the housing market, I’m happy to answer them to the best of my ability. 

New Arrivals to the North Shore

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We may be biased, but we believe that the North Shore has a lot to offer residents and visitors alike. From the sprawling coastline to the quaint towns intertwined throughout, the North Shore is a gem of a region outside of the big city of Boston, and if we’re being sincere, we are excited to see how much all the cities and towns are thriving here.

Each year there are various new businesses and events that are added to the cities and towns that make up the North Shore, bringing together a beautiful mix of old and new throughout the area. 

We try our best to explore all of the small businesses in each town we visit to boost their local support and try new things. In 2022, the additions are no different, and we are excited for all the new businesses that have decided to plant their roots in the North Shore.

Let’s explore 5 new businesses we hope you’ll love and support on the North Shore this year. 

 

Off Cabot Comedy and Events 

(9 Wallis Street, Beverly, MA 01915)

This brand-new 150-seat comedy club is located in downtown Beverly and delivers all the laughs your belly can handle with a variety of comedy shows on their ever-changing lineup. With a full lineup of comedians spanning from April to October, there is sure to be a show that matches your comedic style. Explore upcoming shows here. 

 

Delphine’s Kitchen

(261 Cabot Street, Beverly, MA 01915)

Delphine’s Kitchen is where the magic of French food comes to life. Sloganed as  “a touch of France in the heart of Beverly,” this quaint and delicious restaurant offers a wide variety of menu items sure to satisfy your entire family. 

From sweet and savory crepes to specialty breads and signature drinks, the options are truly delightful. 

The team at Delphine’s Kitchen prides itself on culinary creativity and positively impacting the Beverly community. They are open Tuesday through Sunday, and you may order in-person or online. 

 

Flip the Bird

(A new location in Salem with established locations in Beverly, Swampscott & Danvers)

Flip the Bird opened its first location in Beverly in 2019. After a quick fan following to chase down their deliciously mouthwatering cuisine, they continued to open more locations throughout the North Shore, with the latest spot in Salem just opening its doors in 2022. 

With an emphasis on fried chicken (hence the name “bird”), they offer a wide variety of chicken sandwiches, ribs, biscuits, and sweet treats. Not to mention the decadent sides like pasta salad and hillbilly caviar. 

This is not your average fried chicken spot- it is a MUST try location for anyone who loves to enjoy casual food with a culinary twist and endless good vibes. 

They are open daily, at most locations, from 11:00 am to 9:00 pm. 

 

Jolie Tea Company 

(316 Derby Street, Salem, MA 01970)

Jolie Tea Company is a European-inspired retail tea shop and tea cafe located in Salem. Offering an extensive inventory of loose leaf tea from around the world and complimentary tea accessories and sweet treats, the afternoon tea experience is elevated with Jolie Tea.

According to them, customers range from “those interested in experiencing their first tea brew to those who we would describe as tea connoisseurs!” So, whether you’re a tea lover or looking to experience something new, Jolie Tea has you covered. 

They are open Wednesday through Sunday from 11:00 am to 5:00 pm. 

 

The Beacon Restaurant and Bar

(123 Pleasant Street, Marblehead, MA 01945)

Led by Executive Chef Edgar Alleyne and his business partner, entertainment mogul Johnny Ray, The Beacon Restaurant and Bar in Marblehead is the perfect big-city restaurant in a quaint, coastal community.  

The menu is a fun mix of culinary favorites with specials that will include tomahawk steaks and fresh seafood from the nearby shores.

 The Beacon has the largest heated patio in town with oversized umbrellas, lounge seating, and a fire pit to keep you comfortable- the perfect setting for dinner on a crisp summer evening. 

Offering piano bar music to accompany your meal on weeknights and weekends centered around dancing the night away with the area’s most popular live bands and DJs, there is sure to be an atmosphere fit for everyone to enjoy. The Beacon features renowned nationally-recognized acts, musicians, and comedians on special occasions.

Open Tuesday through Saturday from 4:00 pm to midnight, The Beacon is an ideal option for dinner and entertainment in town. 

 

Whether you’re a North Shore native looking to support up-and-coming hot spots in town or new to the area searching for the best local gems, we’ve got you covered. Although real estate is our forte, we are here to help you explore, enjoy, and thrive in the North Shore for years to come. 

Interested in calling this little piece of paradise home? We can help with that too. We suggest starting with our relocation guide. We can’t wait to support these new arrivals to the North Shore alongside you. Cheers! 

 

Outdoor Spring Activities in Massachusetts

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Spring has officially sprung. Days are longer, the weather is slowly getting warmer, and the sun is shining just a little brighter as we move past the cold and dreary winter months into a season filled with renewal. Is there anything better than that? 

Although I love every season in New England, springtime maybe my favorite. There is so much to enjoy in what feels like the perfect spring weather. So whether you love spending your time outdoors or are hoping to expand your horizons this year by becoming one with nature, there are plenty of spring activities to enjoy. 

From walking through the cobblestone streets of Boston to hitting local trails for a nice mid-day hike, the options are endless.

Let’s dive into some of my favorite outdoor activities on the North Shore of  Massachusetts. 

 

Explore the House of the Seven Gables 

(115 Derby Street, Salem, MA 01970)

This famous seaside mansion was the inspiration behind Nathaniel Hawthorne’s 1851 novel. It offers two unique ways to explore the grounds and home. One way is through a guided tour. The second is through a grounds pass, which comes with a 30-minute narrated historic site tour on your personal device. 

You can even share your experience with a friend who lives across the country (or world) by telling them about their virtual guided tour. Although not outdoors, it allows them to experience the home in all of its glory. 

Fun fact: this home on the Salem harbor was designated a National Historic Landmark District in 2007. Plan your visit today!

 

Snap a selfie in front of  Motif No. 1

(Bradley Wharf, Rockport, MA 01966)

Motif No. 1 is an iconic and world-known red fishing shack on Bearskin Neck wharf in Rockport. It is often referred to as “the most painted building in the world.” 

Why not explore this famous location while snapping a selfie in front of it with your favorite family and friends? Or set up an easel and paint the scene before your eyes on canvas. Add it to your “must-see” spring list. 

 

Pick strawberries at Russell Orchards

(143 Argilla Road, Ipswich, MA 01938)

There may be nothing more delicious than biting into a freshly-picked strawberry from a local orchard. 

Russell Orchards is a family-owned and operated 120-acre fruit farm in Ipswich that invites visitors to enjoy strawberry and raspberry picking in June and blueberries, cherries, and blackberries throughout the summer months.

If you love berries, this outdoor activity is a win-win. Not only are you getting fresh, locally-sourced ingredients, but you’re also enjoying the outdoor weather and supporting a family-owned community staple. 

Fun fact: Russell Orchards offers apple-picking in the fall, so don’t forget to make your rounds there in the cooler months, too. 

Become one with the ocean on a Cape Ann Whale Watch

(415 Main Street, Gloucester, MA 01930)

When we think of the coastline of Massachusetts, there is one outdoor activity that always comes to mind: whale watching.

On the Cape Ann Whale Watching tours, you’ll depart to  Stellwagen Bank National Marine Sanctuary. This section is part of the Massachusetts Whale Trail and is almost guaranteed to provide you with the best whale sighting opportunities.

The season opens on April 23 each year.

 

Enjoy local artwork on the Clipper City Rail Trail

(Washington Street, Newburyport, MA 01950)

Clipper City Rail Trail is more than just your average bike trail. 

As you find yourself riding, gliding, walking, or scootering through, you’ll pass by sculptures and murals created by local artists. If the art wasn’t enough, you’ll also enjoy beautiful water views as you pass through the downtown Newburyport area. 

From unique sculptures to murals, signage, and even a steel “Steam Locomotive” play sculpture, there is something for everyone of all ages to admire and enjoy. 

 

Go birdwatching at Parker River National Wildlife Refuge

Spring is when all the birds return to the North after a mild winter in the warmer states. What better time than to go bird watching, right?

The Parker River National Wildlife Refuge is a 4,700 acres nature preserve in Newburyport, home to more than 300 species of birds. So grab your birdwatching notebook and your favorite pair of binoculars, and enjoy all that nature offers.

 

Massachusetts activities for everyone. 

We hate to sound like those people, but there is so much more to Massachusetts than Boston. Sure, we believe it’s the best big city in the world, and you should definitely explore it and enjoy it often, but there is a lot to do outside of the city limits.

There are so many ways to enjoy Massachusetts, both indoors and outdoors. This spring, we encourage you to spend some time exploring your current town or neighboring cities and towns to get the most out of your state. If you’re from out of town, Massachusetts has a lot to offer everyone. Here are some other great ideas for enjoying the springtime in the Bay State. 

You never know- you may discover a city or town on your exploration that you fall in love with and decide to move to on the North Shore. Either way, we’d love to hear from you on your springtime adventures- even if that adventure involves purchasing a new home. 

North Shore, Massachusetts Relocation Guide

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When it comes to finding a spot on the map with picturesque beach views, cozy snowed-in winters, a small-town vibe near a big city, and a community that provides support, togetherness, and an old-town feel, we couldn’t think of a better location than Massachusetts’ North Shore. 

Whether you’re a native New Englander, current Massachusetts resident, or someone hoping to get their feet wet on the North Shore and are preparing for the big move across country, state, or town lines, our personalized relocation guide is sure to provide you with the inside scoop on exactly what makes this little, yet robust area of Massachusetts so wonderful.

Let’s explore all that the North Shore has to offer everyone. 

First, what towns are part of the North Shore?

As prideful and experienced Bay Staters, we understand how hard it is to figure out precisely what towns and cities make up different regions of our small but mighty state. But, in short, the North Shore is considered the coastal region north of Boston and the New Hampshire border. 

The North Shore is comprised of the following towns and cities in Massachusetts:

  • Amesbury
  • Andover
  • Beverly
  • Boxford
  • Danvers
  • Essex
  • Georgetown
  • Gloucester
  • Groveland
  • Hamilton
  • Haverhill
  • Ipswich
  • Lawrence
  • Lynn
  • Lynnfield
  • Manchester-by-the-Sea
  • Marblehead
  • Merrimac
  • Methuen
  • Middleton
  • Nahant
  • Newbury 
  • Newburyport
  • North Andover
  • Peabody
  • Rockport
  • Rowley
  • Salem
  • Salisbury
  • Swampscott
  • Topsfield

What makes the North Shore so special?

Although there is so much to gush about when it comes to the beautiful North Shore region of Massachusetts, some of our favorite things include:

  • Location to the ocean
  • Proximity and commute time to Boston
  • The small-town family-friendly feel
  • Good schools 
  • A plethora of activities for all ages year-round

A Bird’s Eye View Overview of Our Most Notable North Shore Towns 

Beverly, Massachusetts

Boasting a top-rated school system, the most amazing options for dining, shopping, and activities for all tastes and styles, and a thriving downtown, Beverly is the perfect place to raise a family and plant your roots. 

Just 26 miles north of Boston, it’s the ideal spot to get away from the hustle and bustle of the big city while still being close enough to enjoy all it has to offer whenever you feel like it. Close to route 128 and housing its own airport, it’s great to travel to and from with ease. 

Labeled the “Garden City,” Beverly has miles of glorious coastline, pristine public parks, and plenty of open space to enjoy all that the four seasons have to offer. 

Salem, Massachusetts

Once considered one of the most important seaports in America, during the Puritan era, Salem has a wealth of history and stories to boot. 

Most famous for the Salem Witch Trials and the endless amounts of Halloween-themed events and experiences, Same is a great place to enjoy various entertainment for all ages. 

A coastal city where the U.S. National Guard was born, it boasts beautiful beaches and ocean views from what feels like all angles. A great spot to indulge in big-city experiences with small-town vibes. 

Danvers, Massachusetts

Located on the Danvers River and a short ride to Boston, Danvers, Massachusetts, is the ultimate New England small town. With a sea of history and ties to the Salem Witch Trials, Danvers played an integral role in building on America.

Aside from its deep history, Danvers boasts top-notch public schools, delicious dining options, and quaint shopping choices in its downtown area.

If you’re a nature lover, Danvers is your oasis. With many open space and recreation opportunities, including a marina, Endicott Park, and a 4.3-mile rail trail that connects schools, downtown Danvers, parks, neighborhoods, and trails in the neighboring towns, there is no shortage of things to enjoy here.

Peabody, Massachusetts

In its early years, Peabody was known as the “leather capital of the world” due to the 91 facilities used to produce and process leather throughout the city. Like all North Shore cities, Peabody has a rich history tied primarily to the Puritan and Pilgrim eras. It also played a role in the Salem Witch Trials linked to neighboring towns.

Just a 30-minute drive from Boston, Peabody is the perfect place to plant your roots outside the city limits while feeling close enough to the action. This is especially important for those who plan to work or attend college in the city. 

With around 55,000 residents, Peabody exudes a sense of community for all who live there.

Essential Resources for Relocating

Housing-Specific

Realtors:

If you’re hoping to secure your next home purchase on the North Shore, we’d be happy to help. With over 100+ 5 star reviews and thousands of homes sold over our long and rooted tenure in Massachusetts, we would love to help you find the home of your dreams in a neighborhood you love. 

New Developments

Hoping to score a new build in the lovely city of Beverly? Stay up-to-date on the latest builds in our community before you plan your next move. Learn more here. 

Moving Companies: 

Although it would be great to grab your best friends and offer up some pizza and beer in exchange for a day or two of moving, we know from experience that moving companies make the process of packing and heading from one location to another a lot easier.

Some of our favorite local moving companies are:

  • Trowt Movers, in Beverly, MA, serving all of the New England area
  • Roy’s Moving, in Boston, MA, helping those throughout the Boston area pack and move their belongings with ease.

Lenders: 

Without a solid lender, your dreams of owning a home in the North Shore are, well, just a dream. Don’t just opt for anyone. Instead, invest in a team with years of experience lending and helping families plant roots in the North Shore.

Our favorite team of lenders is located at Ross Mortgage & Drew Mortgage

Contact them today to start the process toward homeownership. 

Interior Designers: 

If you’re hoping to stage your current home to sell it for top-dollar or need assistance with interior design, Sheek Interiors is the answer you’ve been looking for. 

Dining

Nothing makes a move easier than knowing you’ll be arriving at a spot with delicious eats, right? When it comes to dining on the North Shore, there are hundreds of mouth-watering options to choose from.

Check out some of my favorite local eats:

Crave – Located in Beverly, they pride themselves on offering “great food to go.” From breakfast sandwiches to cupcakes and coffee, there is something to satisfy everyone.  

Tartine Kitchen & Eatery – Also located in Beverly, they create everything from breakfast to dinner items and specialize in tartines, open-faced sandwiches served on artisan bread. 

Frank – Located on Rantoul Street in Beverly, this is the idealistic “farm to table” restaurant. They believe in sourcing their ingredients from local, sustainable farmers whenever possible. 

Joe’s on a Roll When craving the best lobster in town, Joe’s, on Federal Street in Beverly, is the spot of choice. Their lobster roll paired with a bowl of their delicious chowda’ will lift your spirits and give you a taste of your favorite summer nights. 

Wrapture if you’re looking for freshly made wraps or a bit of Mexican flair (think made-for-you burritos or tacos), then this is the place! Located on Cabot Street in Beverly, Wrapture uses fresh ingredients to please your palate. 

Taste Buds Kitchen – If you’re looking for some variety in your meals, the new cooking club that Taste Buds just launched is perfect! They post new cooking videos every Tuesday and Thursday and are great for your entire family to participate in. 

Pet options 

A move is not complete without including our furry best friends, our pets.

Here are some of my favorite pet-friendly options to consider using after you move to the North Shore:

Shopping

Whether you’re a self-proclaimed fashionista or just hoping to be close to good shopping options, the North Shore is not short on local businesses and unique shops. 

Although my list could take up an entire page, some of my favorite local shops include:

  • Unpacked Living in Beverly is a sustainable market with options for home, beauty, baby, and pet is one-of-a-kind.
  • Copper Dog Books in Beverly is an independent bookstore that boasts many readworthy options for people of all ages. So unleash your inner bookworm in the heart of downtown.
  • Worthy Girl in Beverly is a feel-good way of shopping without breaking the budget while reducing your eco-footprint. This consignment shop is loaded with labels from various designs at an affordable price. 
  • Oak and Moss is located in historic downtown Salem and perfectly combines home, plant, and gifting options for you or someone you love. 

Entertainment

After a long week at the office, everyone deserves to relax and unwind with some good-heartedentertainment. Some of our favorite North Shore entertainment spots include:

Parks & Beaches

Although there is a lot to brag about when it comes to North Shore living, we can’t say enough about the glorious beaches, expansive green space, and coastal elements of living with the Atlantic Ocean at your back door.

Some of our favorite beaches and parks include:

  • Castle Rock Park in Marblehead
  • Forest River Park in Salem
  • Good Harbor Beach in Gloucester
  • Independence Park in Beverly
  • Long Hill in Beverly
  • Lynch Park in Beverly
  • Millbrook Meadow in Rockport
  • Patton Park in Wenham
  • Plum Island in Newburyport
  • Singing Beach in Manchester-by-the-Sea
  • West Beach in Beverly

Not to mention all of the beautiful nature trails winding throughout the wonderful landscape all around us. We encourage you to check out:

  • Appleton Farms in Ipswich 
  • Beverly Common Trail
  • Salem Rail Trail 
  • Walk along Lothrop Street for beautiful ocean views and magazine-worthy homes
  • Walking by Endicott College for a dive into history alongside roaring ocean views

If you’re hoping to make the North Shore home, we want to be the first to offer you a warm welcome. We know that the journey to get here may feel long, but the joy of planting roots in such a vibrant and wholesome environment and community is worth everything. We can’t wait to help you acclimate to the world around you on the North Shore.

If you’re relocating to the North Shore and have questions, contact us directly, or join one of our groups:

NextDoor: Relocating to Beverly

Facebook: Relocate Beverly, MA

10 Common Homebuying Questions Answered

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Whether you’re in the market for your first home or your tenth, buying a house is an exciting and sometimes, overwhelming time in your life. From your dream must-have lists to the ideal locations, school ratings, neighborhood amenities, and budget, there is a lot involved in the homebuying process. As you continue to navigate through your personal journey of purchasing your next home, many questions may arise throughout the process. 

Today, we want to answer the ten most common questions that realtors get asked in the homebuying process. We hope our answers will give you some insight into the process and ease any anxiety about all that home buying entails. One thing’s for sure: buying a home may be a lot of work, but it is worth every list, question, and step in the process to get you into the home of your dreams to enjoy for years to come. 

Here are the ten most common questions about buying a home. 

1. What’s the first step in the home buying process?

Before you begin touring homes and popping into open houses, the first step is to obtain a mortgage pre-approval from a loan officer. This document outlines how much you can afford and how much you’ll get pre-approved for once finalizing your mortgage. This allows you to work directly with a realtor to search for homes within your budget and wishlist. Without it, you don’t have much ground to stand on or a solid number to work with on determining the best homes in your budget. The mortgage officer will run a thorough credit check, verify income, and review other financial documents to determine a max approval amount during the pre-approval process. You may also discuss what type of loan is best for you, downpayment requirements, and overall timeline. 

2. How long does it take to buy a home from start to finish?

The timeline for buying a home varies by person and is mainly driven by how quickly you find a home you want to put an offer on. Some people go through 20 or more homes before finding their dream home, while others just visit a handful before submitting an offer. Once your offer is accepted, the standard timeline from approval to keys in hand ranges from 30 to 60 days based on the terms of the closing agreement. 

3. How does a realtor help me?

Realtors are your go-to industry expert in the search for your next home. They help you schedule showing, provide detailed information on the neighborhood and home specifications, and are often well-versed in the area you are shopping in, giving you the insider scoop on what area, home size, neighborhood, and amenities are right for you and your family. Realtors also work with your mortgage company and other realtors to finalize documents once you’ve closed on a home. In short, realtors are your eyes and ears in the market during the buying process and your go-to expert throughout the entirety of the purchase transaction. 

4. How much does a realtor cost?

In most instances, a realtor does not cost the buyer anything. During the home selling process, the sellers pay a fee to their realtor, which is typically split between the selling agent and buying agent at the time of closing. Buyers may opt into compensating their realtor as part of their realtor agreement. 

5. Do I need to meet a minimum credit score?

Yes, you must meet and maintain a healthy financial status to qualify for a home purchase. Although different loans vary when it comes to credit score requirements, most require a score of at least 620 or higher. In rare instances, a score as low as 580 may work. During your preapproval process, speak with your mortgage specialist about your unique credit situation. If you do not currently meet credit score requirements, your mortgage lender will often provide you with a path to improve your score and qualify for the loan you need over a period of time. 

6. How much does my down payment cost?

Down payment cost depends on the type of mortgage loan you use. However, in most cases, you can expect a down payment to range from 3% to 5% of the total cost of the home. 

7. Besides the down payment, what else should I plan to pay for?

Planning out your financial path during the homebuying process is an essential part of setting yourself up for success. Although a down payment is typically the biggest chunk of the out of pocket expense you’ll face, there are other fees you should know about and save up to cover including:

  • Closing costs
  • Homeowners insurance
  • HOA fees (if applicable)
  • Property taxes
  • Home repair and maintenance

8. Are there any programs I could qualify for?

Yes, in some instances, you may qualify for special home buying programs such as:

  • VA Loans
  • USDA Loans
  • FHA Loans

Speak with your real estate agent and mortgage lender to determine what loans you qualify for. 

9. What advice would you give first-time homebuyers?

Buying a home for the first time is a big feat, albeit exciting. There are plenty of things to consider before taking the leap on submitting an offer for your first home. Our advice is this:

  • Make sure you have a strong financial cushion to help pay for all costs associated with a down payment, closing costs, and other costs that may arise during the home buying process.
  • Keep an eye on your credit score and work with your mortgage officer to follow recommended steps to keep your finances in tip-top shape.
  • Use a realtor who understands the area and has experience working with first-time home buyers.
  • Don’t be afraid to ask questions.
  • Prepare to compromise on your dream wishlist.
  • Enjoy the journey!

10. Why buy a home in New England?

We may be biased, but New England has our heart. From the picturesque winters and crisp falls to the blooming springs and warm and welcoming summers, we couldn’t think of a better place to call home. There is nothing like experiencing all four seasons in the glory of your backyard. Not to mention, the schools are top-rated, the seafood is out-of-this-world and the history is all-encompassing. So whether you’re new to the area or have called New England home for a while, we couldn’t think of any reason not to consider calling this lovely side of the United States home. 

If you’re in the market for a home this year, it’s always important to stay up-to-date on the latest market trends, understand the entirety of the buying process, and connect with professionals who are willing to travel the entirety of the home buying process with you to make all aspects of this next chapter easier on everyone. To learn more about buying a home, or to begin the process contact us today. We would love to help you get into the home of your dreams this year.

Understanding the Fees Associated with Buying a Home

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When it comes to buying a home, whether your first or tenth, understanding exactly what goes into buying it, especially when it comes to money, is crucial. Outside of the direct cost of a home, there are various fees associated with purchasing a home. Those fees can sometimes vary based on the offer presented to the seller, the current market conditions, and the type of home loan you decided to go with (and qualify for!).

Although it would be magical if all we had to worry about was the listing price, that’s just not the reality of the housing world. The good news is that my team and I believe in the power of transparency and getting you as ready as possible for the new big adventure in your life: a home purchase.

After you land on a favorable mortgage offer and solid preapproval, it’s important to remember that, although exciting, having a comfortable amount of money saved ahead of time will help you tackle all the fees associated with buying a home without the added worrying of scrambling to get your ducks in a row as you’re on the hunt for your dream home.

Let’s break down the costs associated with buying a home so that when you’re ready to step into the world of homeownership, you are ready and able to afford the home you adore.

1. Down Payment

A down payment is the amount of money you put down, upfront, on your total home purchase. It is deducted from the total purchase price at the time of sale and not part of your standard mortgage payment. Most home loans require a down payment of some kind. If you are opting for a conventional or FHA loan, a down payment is required. FHA loans require a down payment of at least 3.5%, while conventional loans vary based on property type, location, and loan terms. Conventional loan down payment amount is typically anywhere from 3% to 20%.

The only loans that do not require a down payment are VA loans (available only to military members) and USDA loans (used to purchase homes in rural areas as designated by the USDA).

It is a good rule of thumb to have about 10% of the total home cost saved for a down payment. If you spend less, great, as that can be used to cover other fees.

2. Closing Costs

Before you can get keys in hand for your new home, closing cost payout is required. “Closing costs” is an umbrella term used to describe all the fees associated with pulling a mortgage. Typically, they range from 2% to 5% of your loan’s principal.

Although different for every situation, they often include:

  • Credit check fee
  • Application cost
  • Appraisal
  • Home inspection
  • Underwriting fees
  • Title search
  • Title insurance
  • Transfer tax

In some cases, the sellers will cover closing costs (in partial or full) based on the terms of the final offer. Therefore, it is important to speak with your loan officer to determine exactly what fees you’ll need to pay out under your specific closing costs.

3. Homeowners Insurance

This type of insurance helps to protect you financially from unexpected events that could significantly damage your home. Think natural disaster, theft, or in-home accidents, like fire.

Homeowners’ insurance isn’t required by law, but most mortgage lenders require it. The cost varies by loan details and location and the options seem quite endless for coverage. We always encourage you to compare different options and rates to choose one that best suits your needs and budget.

4. HOA fees

If you’ve purchased a home within a designated community, there may be HOA or homeowner’s association fees you have to pay on a monthly, quarterly, or yearly basis. Although different for everyone, the specifics of your HOA requirements will be outlined in your homeowner’s purchasing agreement. Fees are extremely variable and are set into place by the homeowner’s association of your community.

Your dues cover specific services that the association provides, which may include security, a pool, a gym, or landscaping and maintenance.

5. Property Taxes

Like any big purchase, tax is something that comes with the territory. In most cases, property tax is included in your monthly mortgage payment but is separate from the interest and principal portions. Property taxes are paid for the entirety of homeownership and are based on the assessed value of your property.

There are various fees outside of the standard purchase price when purchasing a home to keep in mind. Although these are the most common and general fees, other fees could include home upkeep, renovations, or other non-standard items or requirements based on your unique home, location, or needs.

If you’re in search of your dream home and hoping to secure the funds needed to purchase, we’d love to help you through the process. Contact us today to start your journey to homeownership in New England.

Meet the Team: Joanna Payne

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Behind every great team is a passionate and driven operations manager who goes the extra mile to ensure all processes and procedures are in working order for a successful day, week, month, and year ahead.

We are thrilled to welcome our newest team member, Joanna Payne as our Real Estate Operations Manager. With years of experience, she will be an asset to our office, realtors, and clients for years to come. She will be our go-to person for clerical and administrative tasks while also being part of our hands-on and collaborative team meetings and plans.

We want you to get to know Joanna a bit more. So here are some interesting details we thought you should know. 

What does an Operations Manager role entail with Maura Allard and Company?

An operations manager is responsible for supporting the day-to-day functions and assisting the manager and other team members with tasks to ensure the company functions efficiently. 

Tell us a bit about your background.

Joanna has a long and prosperous history in operations.

She says, “I started working in an office setting when I was 13-years-old for my family’s business. I had an amazing mentor who taught me the ins and outs of how to manage and run an office, as well as all the best bookkeeping practices. I have always worked in some capacity as an assistant. I enjoy working with people and helping others.”

We couldn’t think of better experience to have around our clients and team.

Why were you drawn to the real estate industry?

The real estate industry is one of the most complex, yet prosperous markets in the world. Filled with people of different backgrounds, styles, and goals, there is so much to discover through a career in the field. 

When asked why Joanna decided on the real estate industry, there is one word to describe it: intrigue.

She says, “Before I even worked in real estate, I always enjoyed researching the market or looking up a house that had a “For Sale” sign out front to see what it looked like inside. I liked to see a fixer-upper and imagine the possibilities or see an antique home and dive into all of its character.”

Being part of the real estate industry is to be part of a life-changing season in a person’s life. Joanna agrees and says, “When I started working in a real estate office, I enjoyed being a part of one of the biggest and most exciting transactions of a client’s life!”

Why did you decide to work with Maura?

Although Joanna has been working as an assistant for years, she found something special in Maura when she decided to look for a new job. So what made her make the switch? For her, it was simple. She says, “I really like Maura’s positive energy. She seems eager and excited for new possibilities, and I feel like I can learn a lot from her.”

To us, there may be nothing better than working in a space where you can share your skills and abilities while learning new and exciting things from others around you. 

What does your dream home look like?

When we ask our clients what they’d love most in their dream home, we are often given a list of their must-haves that can, sometimes, fill an entire page (or two!). From the number of bedrooms and ideal square footage to location and features, there are so many things that they want to see come to fruition in their next real estate purchase. Rightfully so!

On the other hand, Joanna keeps it simple when she imagines her dream home. She simply states, “my dream home would be rustic, warm, cozy, and inviting!” Of course, we couldn’t think of anything more New England than that!

Give us 3 random fun facts about you.

We love to share fun and interesting facts about the people on our team. Here are three fun facts about Joanna:

  1. She loves the snow and looks forward to a good snowstorm!
  2. She likes to cook.
  3. She can always be found listening to music and especially enjoys the 80’s.

We are so excited to welcome Joanna to our team. If you would like to learn more about Joanna, or other team members in the Massachusetts or New Hampshire market, contact us to set up a consultation today. We can’t wait to hear from you and help you turn your home dreams into reality. 

10 Common Issues Found During Home Inspections

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Whether you’re in the market for your first home, dream home, trying to sell a home, or simply curious about the home inspection process and common issues homeowners face when buying and selling a home, we’ve got you covered. 

We understand that there is a lot that goes into the process of buying and selling a home. However, although not required, a home inspection is one of the most transparent ways to unearth your potential new home before you sign on the dotted line for the final time. 

Let’s dive deeper into the most common issues found during the home inspection process. 

But first, what is a home inspection?

In simplest terms, a home inspection is a thorough examination of the current condition and safety of a home. It is conducted by a licensed home inspector and reviews areas such as:

  • heating system
  • central air conditioning system
  • Interior plumbing
  • All electrical 
  • the roof and attic space
  • visible insulation
  • Interior areas such as walls, ceilings, floors, windows, and doors
  • The home’s foundation and other structural components
  • The basement 

What does a home inspection help with?

As buyers, home inspections are great ways to get to know the bones of your potential home, ask sellers to fix any significant and costly problems before purchase, and negotiate the terms of your offer to meet your financial needs while getting the house back in order.

As sellers, home inspections are a great way to gauge the overall condition of your home, get a better understanding of your home’s value, and work with your realtor and buyers to discuss options for fixing any major issues with terms that work for both of you. 

What are the 10 most common issues found during a home inspection?

1. A faulty foundation

The most common signs of this issue include ​sticking windows or doors, cracks in the wall, especially above the doorway, sloping floors, or visible cracks in the exterior base of the home. One of the most costly issues to fix, an update to the foundation could cost upwards of $10,000.

2. An old roof

The life expectancy of most roofs is anywhere from 15 to 20 years. During the inspection, roof issues are often noted when there are loose or crooked shingles, leaks in the ceiling, or any loose flashing. Roof repair or replacement can cost between $5,000 to $10,000 or more.

3. Plumbing issues

Faulty plumbing can be noticed in things such as leaky pipes, backed-up sewage systems, or improperly functioning water heaters. The cost to repair plumbing depends on the location and severity of the issue.

4. Mold 

Mold, especially hidden, can be highly detrimental to the overall health of a real estate property. Mold is caused by moisture, which in most cases indicates a leak somewhere in the home. The cost to mitigate mold depends on the severity of its spread. 

5. Electrical issues

Poor wiring or other electrical hazards are frequent issues found during the home inspection process. The most common wiring issues are missing junction boxes, reverse polarity, and damaged receptacles. However, repair and replacement costs are relatively low compared to other reported home inspection issues unless the wiring problem is extensive and requires a complete home replacement.

6. Heating failures

Problems like a blocked chimney, faulty furnace, or non-working controls are enormous issues that home inspectors often encounter. Failed heating systems can cost a lot to replace, especially when your home requires a new furnace. Generally speaking, fixing common heating problems is between $5,000 to $8,000.

7. Structural damage

A common issue in older homes, structural damage can refer to various problems. The most frequent sagging floor joists, rafters, and door headers. Depending on the severity of the issue, the cost could range from minor to major. Review your report in detail to better understand exactly what structural issues are at play.

8. Pest infestations

The ever-so-devious pests come up often on home inspection reports. From rodents to termites, pests can cause serious problems in a home, especially when left untreated. The cost of pest removal depends on how much area the pests have destroyed and exactly what is needed to remove them.

9. Drainage Trouble

Surface grading around the exterior of a home can cause severe drainage issues. Extensive drainage issues can lead to mold and mildew growth, a leaky basement, or foundational issues if not tended to properly. The cost to fix surface grading is based mainly on the size of the area. 

10. General cosmetic issues

Often seen by the naked eye, cosmetic issues are not something that most would think to see on a home inspection report. However, as a seller, it is vital to take care of cosmetic issues to show the buyer and inspector that you care for the property at all levels. Lack thereof could signal other issues to be found below the surface.

 

If you’re in the market for a new home or hoping to sell your home this year, it is important to consider all the factors that go into a home inspection. To learn more about the home inspection process or begin the home buying or selling process, contact us today. 

My Favorite Holiday Gift Basket Ideas

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Well, it’s official. The holiday season is upon us. From turning on holiday music and building gingerbread houses to decorating the Christmas tree and snuggling up with a nice cup of hot cocoa, there is so much to enjoy this time of year. 

One of my favorite things about the holidays is gift-giving. Nothing makes me happier than being about to surprise a friend or family member with a gift that they adore. One of my favorite things to do every day is support small businesses and shop locally. Marrying two of my favorites together makes for a memorable holiday for our loved ones and is beneficial for our communities. 

As we approach the last few weeks before Christmas, it feels like crunch time when it comes to checking off everyone on our nice list. Whether your list has grown unexpectedly or you’re slowly but surely moving through it, a great way to put together a last-minute gift is by making a curated gift basket. Themed gift baskets are a fantastic way to gift some of your favorite items while celebrating your recipient and the holiday season.

To spread some holiday cheer and make your shopping a bit easier, I thought it would be nice to share some of my favorite gift basket ideas with you. 

Explore these unique gift options by theme, and shop locally this season. 

1. Family + Children

If you have a family on your gift list, consider making them a basket filled with treats, games, and activities they can enjoy together. Grab some age-appropriate board games, locally produced snacks, and a bottle of wine for the parents to enjoy together. 

Also, consider adding some gift cards for family experiences that they can enjoy after the holiday season has passed. Here are some of our favorite family-friendly spots to consider:

  • Tastebuds is an excellent option for families who love to cook and enjoy good food together. They host cooking classes and parties for anyone two and older in Beverly. Here, you can attend mommy and me classes, kids-only classes, adult-only classes, or a private class for the entire family. A great gift option to set up a love for cooking at an early age; a great, interactive gift for the whole family. 
  • Give the gift of theatre at North Shore Music Theatre in Beverly. With show offerings suited for all family members, your gift recipients can enjoy the magic of theatre right in the heart of their town. A perfect family-friendly show to consider gifting is “A Year with Frog and Toad,” A whimsical musical performance follows two best friends through all four seasons. Filled with fun, music, and imagination, the entire family will be enchanted, making this an unforgettable memory and gift. The show takes place on 03/26/2022.
  • The perfect gift for an artsy family, Clay Dreaming Pottery Studio in Beverly offers child, teen, and family classes suited for the whole family.  Consider adding a handmade clay piece to the basket along with a gift card for them to enjoy making clay pottery themselves. Not only will they be left with the memories of a wonderful time had by all, but they will also have the pottery pieces they made to display in their home for years to come. 

2. Friends

Aside from our immediate family, girlfriends are the pillars of love, community, and trust in our lives. Often, friends become our chosen family over the years. So during the holiday season, it is essential to remind them of how much value they add to our lives. Whether you decide to make them a gift basket of their favorite staple items or simply want to give them some new and exciting gifts to pamper them and make them feel loved, these local favorites are some great options. 

  • With 4 locations throughout Eastern Massachusetts, Nails and Co. Spa is the perfect way to treat your bestie this season. From gel manicures and spa pedicures to skin care, facials, and waxing, they have a little bit of everything for the full spa experience. The perfect gift to wind down from the hustle and bustle of the holiday season.
  • A gift certificate to attend workout classes are a great option for the friends in your life who love to stay active. Some of my favorite spots include Fit Ritual and Inner Cycle with multiple locations throughout the North Shore. An added bonus is if you join them in trying out a new class in the New Year.
  • Everyone loves a little pampering. So why not gift a blowout at a luxe blowdry and esthetics bar in Beverly? Prette is the self-proclaimed “destination to feel your most prettiest self.” Let the gift card lead as the theme of the gift basket and include other self-love spa day items such as a new wet brush, a makeup set, a bottle of their favorite wine, an eye mask, and some local, delicious chocolate. 
  • If your friend considers herself a foodie, then Frank is the place to send her. A place that has lived the idea of farm-to-table, before it was the mainstream, Frank offers delicious, nutritious, and locally sourced menu items that are simply to die for. Offering a brunch, daytime, and nighttime menu, your friend, can enjoy everything from florentine benedict to a savory raw bar and charcuterie board. The ultimate place to sit back and indulge after a long holiday or weeknight. Pair this gift card in a basket with a bamboo cutting board, a new apron, a cheese platter set, and some decadent cheeses, and a perfectly-paired bottle of wine. 
  • Looking for unique gifts, home decor, or plants for a friend who has everything? Look no further than Roost & Company or Oak + Moss. Both offer sustainably-based paper and gift items. Grabbing items at these two shops is the ideal way to shop locally while scoring gifts that excite. 

3. Spouse

Sometimes it’s hard to shop for the ones closest to you, especially if you feel they already have everything or claim that they don’t need anything. So this year, consider putting together a fun and romantic gift basket of things you can enjoy together as a couple.

Some of my favorite options include:

4. New Homeowner

Do you have a friend or family member who recently purchased a home? One of the best gifts you can give them is a gift basket filled with fun and valuable things they can use in their new home. 

Some of my favorite new homeowner gifts include:

  • Plants from Oak + Moss with decorative and unique pots
  • Home decor items from Simply Placed
  • Snacks and wine
  • A fresh bouquet in a colorful vase
  • Soaps, candles, and lotions

 

Whoever you’re shopping for this holiday season, we encourage you to choose gift items that excite their senses and leave lasting memories for years to come. Above all, we hope that you can enjoy the season surrounded by those you love most while sharing the joy of gift-giving with all of those who are special in your life. So, from all of us, Happy Holidays and Merry Christmas! 

How to Design a Beautiful Guest Bedroom in Your Home

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One of the best things about owning your own home is sharing it with the people you love most. From family and friends to neighbors and guests, creating a place that you consider your sanctuary to host in is a beautiful thing. 

Are you one who loves to have guests over? Or maybe you’re just in the perfect location for your house to be unofficially deemed the home of the holidays. Whether you consider yourself the hostess with the mostest or like to keep it more low-key while guests visit, having an intentionally curated space in your home for guests is essential, any time of year.

No matter how you decide to decorate your spare or guest, bedroom make sure that it’s clean, comfortable, and uncluttered. The space should exude warmth for a welcoming vibe while being a place of relaxation to lay your head after a long day of travel and connection. 

Here are my top tips for designing a beautiful guest bedroom. 

1. Pick a theme.

Often, people believe that a guest room is a free-for-all space when it comes to shedding some design inspiration. Although this is true, to some extent, the theme of your guest space should match the aesthetic of the rest of your home. It should be a complimentary room to the main living spaces and not stick out like a sore thumb. A mismatch can cause it to feel too isolated or unwelcoming. 

Picking a theme is a great idea, but make sure it aligns with your full home’s design goals. Great options for themed guest rooms include natural, farmhouse, modern, hotel-chic. Whatever theme you decide on, make sure that each piece of furniture and accessories works within your theme effortlessly. 

2. Keep it cozy.

Coziness is the name of the game when it comes to designing a guest room. For your guests, whether they’re traveling from across the country or across the city, a guest room acts as an oasis space, allowing them to relax and unwind in comfort. 

Include cozy items like oversized pillows, plush blankets, and soft throw rugs. Consider going a step further by adding deluxe bathrobes and extra large towels. If possible, make the thermostat in the guest room a separate entity from the rest of your home so that your guests can choose their most comfortable setting. Finally, don’t forget staple comfort items such as books, a television, or ample lighting. 

3. Take advantage of natural accents in the room.

Many New England homes are filled with old-world charm. From natural hardwood floors to vintage fireplaces, there is a lot of beauty to be found in natural home elements. If your guest room is graced with a piece of history, don’t be afraid to show it off. Place your furnishings around the accent pieces to showcase them. Decorate mantels and shine hardwood floors. Add an oversized pillow to a bay window bench seat to instantly transform it into a reading nook. All of these small elements make the room feel personalized and worldly. 

4. Keep the clutter out.

Don’t ever treat your guest room like a storage closet. Do your best to keep clutter out at all costs, even in the guest closet. Consider this an active living space and use it as a study or relaxation room when guests are not visiting. This will allow you to recognize it as a living space instead of a storage bin. Before guests arrive, clean up any clutter throughout the area to ensure they walk into a freshly cleaned room. 

5. Don’t skimp on furniture.

Don’t leave your guest room feeling extra sparse if you have the extra space. Lack of furniture can lead to a lack of feeling cozy and comfortable. Instead, consider adding intentional elements in the space, like a desk, small dresser, and corner reading chair to make it functional without feeling cluttered. 

6. Update for each season.

When decorating for the season throughout your home, don’t forget the guest room. Decorate with fresh flowers in a vase in spring. Brighten up the space with light linens in the summer. Add a bit of fall warmth in the autumn. Bring in all that’s merry and bright in the winter months. A fun way to tie the guest room into the other rooms of your house is to include it with each seasonal change. Your guests will feel inspired and at home there with a few extra seasonal decor pieces.

7. Consider your guest list.

Your guest room is only as good as the guests who stay in it. If it’s not suited for your type of people, then it’s not going to feel comfortable for them. Know what they like, what makes them happy and comfortable, and opt to include those elements in the space. Whether it’s extra pillows, weighted blankets, or more natural light, make it a space that’s welcoming to the people you care most about while also functioning as a happy place for you too. 

8. Don’t forget to stock it with essentials.

Traveling is hard enough. Most of the time, guests forget something. Whether it’s a toothbrush, body soap, or their favorite hair dryer, stocking up on the essentials just in case helps alleviate any added stress on their plate. If you have a guest bathroom, fill it with travel-sized items that they can quickly grab during their stay with you. Think of hotel front desk offerings and go from there. Make sure the room is well-stocked with towels, blankets, pillows, a change of sheets, and maybe even a welcome basket. Guests appreciate you taking care of the small stuff. 

 

Designing a guest room shouldn’t feel like an added chore on your laundry list of to-dos for your home. Instead, make it a fun experience by choosing a design you love, finding items that make it feel extra cozy, and turning it into a home away from home for both you and your guests. Do you love the idea of a guest room, but haven’t found your dream home yet? Let us help! Contact us today to get started on your journey to homeownership- guest room included. 

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79 Bridge Street
Beverly, MA 01915

978.835.8954
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