Home for Sale

It’s spring—traditionally the season for real estate sales.   I’m working with many buyers now who are ready, willing and able to buy a home. What we’re finding is a small supply of homes for sale in Andover and North Andover.   Currently there is only a 5.3 month supply of single family homes listed for sale in North Andover and 3.8 months supply in Andover.  If you’re thinking about selling your home in the near future now might be a good time to list your home.  Homes are selling.  To see which homes have sold in your town or neighborhood sign up for your free Market Snapshot.

Tax Tips for Homeowners

It’s tax time and you’re probably gathering all of the forms and paperwork you’ll need to prepare your 2009 income tax return.  As a  homeowner you know that you are eligible for various tax deductions and tax credits.  Here are some tax tips that I hope will help my neighbors here in Andover and North Andover take full advantage of the tax benefits of home ownership.  Curious about what your home is worth?  Find out what homes are selling for in your North Andover or Andover neighborhood.

Every news report I read reports improving real estate sales in Massachusetts. According to  the Boston Globe sales of single family homes in Massachusetts rose 3% in 2009, the first year over year increase since 2004.  Whether or not this trend continues is the subject of much debate.  There is much speculation and many opinions as to whether or not the housing market will continue to recover after the government home buyer tax incentives expire.  Let’s take a look at single family home sales in Andover and North Andover. 

 In Andover the average single family home price in 2009 was $574,387 down .9% from the 2008 average sale price of $585,193.   A total of 252 single family homes sold in Andover in  2009 up 1.6%  over 2008 sales.

In North Andover the average single family home price in 2009 was $459,480 down 14.2% from the 2008 average sale price of $528,274. A total of 195 single family homes sold in North Andover in 2009 up 7.8% over 2008 sales.

You see the market data can be very different even in two neighboring towns.  Knowing and understanding your local market is critical when making buying or selling decisions.   See what homes have sold in YOUR NEIGHBORHOOD. 

Outdoor fun in Andover

No, the superbowl won’t be as much fun this year for local homeowners without the Patriots…but there still is plenty to do in Andover and North Andover on weekend afternoons.  Here’s one idea for outdoor winter fun. Did you know  you can rent or buy snowshoes or cross country skis at Moore and Mountain 3 Railroad Square, Andover.  Then enjoy some fresh air and exersize on one of our local  trails in Andover or North Andover.

Buying and selling real estate seems to get more complicated every day.  You might think that with all the media reports on housing, market data and the mortgage crisis a home buyer or seller has all the information he or she needs for a successful and efficient transaction.  My experience suggests the opposite. The challenge is not finding the information, it’s finding relevant, local information and synthesizing that information into a plan that makes sense for the individual consumer.

 Market data is a great example. We are bombarded by news reports of home sales. Of course it’s broken down into regions, states, counties and towns…but what about YOUR neighborhood?  Why did one particular 2000 square foot, 4 bedroom, 2.5 bath home sell in 24 days while another languishes on the market month after month?  Whether you’re buying OR selling knowing the answer to that question will help you make an informed, intelligent decision.  More importantly, the answer to that question could save — or cost you—tens of thousands of dollars.  An experienced real estate agent will save you time and money.  She will also guide you through a financing process that is becoming increasingly frustrating and complex by the day.  New guidelines and lending rules have been changing dramatically and are about to change significantly again on January 1.  One forgotten detail or mistaken entry on a form may delay or prevent a transaction from closing. Your home is likely to be your most significant financial asset. Doesn’t it make sense to manage it wisely?

North Andover Tax Increase

The average homeowner in North Andover will see his or her real estate tax go up again in 2010.  An average home valued at $447,800 will soon pay  property tax of $6502.  Selectman voted earlier this month to set the North Andover residential property tax rate at $12.74 per $1000 valuation. See the current valuation of your home in North Andover. 

Andover residents will see similar increases in their property taxes where the residential tax rate will increase to $13.19 per $1000 valuation.  If you’re concerned about your ability to pay your 2010 property taxes contact me at REMAX Partners in Andover.  Many cities and towns offer tax exceptions or abatements for qualified residents but there are very specific procedures and deadlines which must be followed.

I’ve been talking to alot of people this month.  It’s been fun connecting with people at holiday parties and meetings.  Many people are asking me about the real estate market and when I tell them homes are selling, many folks are pleasantly surprised to hear the answer to that question is YES!  In fact, the inventory of homes on the market today in Andover and North Andover is low.  We have fewer than 4 months of inventory of single family homes for sale in Andover and only about 5 months of inventory in North Andover. Considering the basic economic principle of supply and demand, spring may not be a better time to sell your home.  Get instant market data for your neighborhood including live SOLDS at My Home Value Today.