On the South Shore of Massachusetts, a trend towards 55+ active adult communities has emerged, is growing and gaining in popularity. Arbor Hills in Kingston MA is but one of several age-restricted communities to emerge and flourish in recent years throughout the region.

The construction of the Arbor Hills development began in 2003 and the complex was completed in 2005. In all, there are 54 free standing, mostly Cape-style homes with just a few single level Ranch homes mixed in. While these detached homes resemble traditional single family houses, Arbor Hills is in fact a condominium complex. Therefore, the purchase of a home in Arbor Hills will not include the land on which the home sits and residents are charged a monthly fee to cover the cost of common expenses, i.e., sewer, real estate taxes, a master insurance policy, exterior maintenance of the buildings, trash and snow removal, landscaping and road maintenance.

Arbor Hills is a well-maintained complex located approximately 4 miles from Kingston center off Route 106. Each home has an attached two-car garage, a basement – some finished; most of the homes have 2 bedrooms with some also having a second floor loft, and at least 2 full baths. Popular features/amenities offered in these homes include hardwood floors, tile, granite, stainless steel appliances, etc. The price of homes in Arbor Hills range from $350K to the upper $400Ks.

The bottom line, condo living is not for everyone – diminished privacy is one drawback. However, on the plus side, there is no yard work (mowing the lawn and raking leaves) or the need to shovel snow in the winter.  So, if your interest has been piqued and you want to peek at what’s available, you may browse the listings of current homes for sale at Arbor Hills.

Or perhaps you would be interested in browsing more homes for sale in other 55+ active adult communities elsewhere on the South Shore:

The Residences at Duxbury Estates in Duxbury MA.

The Elms of Hanover in Hanover MA.

Great Island, Tara Woods & others in Plymouth MA.

Meeting House Estates in Scituate MA.

Overlook Farm, The Maples & others in Marshfield MA

Or, for another alternative, you may browse listings in Middleboro MA, at the mobile home community for adults aged 55+.

Let me know if you would like to arrange a tour of these properties. I am here to help you select the home that’s right for you.

Thanks again for visiting and please feel free to comment on this post with reactions to share or with questions.  And should you have any questions about real estate in Kingston, Plymouth or another town on the south shore , please contact me or call 781-588-0961.

Until the next time,

Jackie Farrell, Realtor®

BuyerBrokersRealty

Housing Market Health Check

Kingston

Plymouth

Carver

Duxbury

Halifax

Hanover

Marshfield

Norwell

Pembroke

 Scituate

As you can see by this month’s report, the overall numbers for January 2012 are down from the same period of the previous year. The total number of single family sold properties in January 2012 (for these 10 towns) was 71 as compared to 87 in January 2011. And the the average median price of a single family home in January 2012 (for the 10 towns) was $326,536 as compared to $405,665 in January 2011.

The condo market fared better in the month of January. The average median price of a condo in January 2012 was $183,550 as compared to $174,050 in January 2011. And the total number of condos sold was almost even, 17 in 2012 as compared to 18 in 2011.

We’ll be checking and comparing the market stats for the coming months, so please drop by again.

Thank you for visiting,

Jackie Farrell, Realtor®

BuyerBrokersRealty 

Cost vs. Value Home Remodels

Today I would like to share a recent article of interest that arrived in my inbox from the National Association of Realtors® entitled 2011-2012 Cost vs. Value: Which Remodeling Projects Pay Off the Most?  I believe and hope that readers here will also find it interesting as it contains information that is of benefit to sellers and homebuyers alike.

New homebuyers often have a ‘grand vision’, one full of ideas about improvements to their new home. There are always questions – and concerns – about the cost of the projects they want to take on. This article serves as a useful guide for making the best choices and most cost effective decisions no matter what region of the country you live in.

Beyond the advice provided in this article, there are other relatively low cost options to enhance and personalize your home. For example, simply changing out the hardware and/or perhaps refacing or painting the kitchen cabinets, or replacing light fixtures in a bathroom or dining room, or painting a room or accent wall in a new color, any of these changes can make a dramatic difference to the overall appearance of your home and all for a reasonable cost.

The biggest and most expensive targets in most home improvement plans are kitchens and baths. As a rule, these rooms should be updated every five years or so, but this doesn’t mean that you have to make the changes all at one time. Instead, you might consider replacing just one item per year, such as one appliance in the kitchen and/or perhaps one item in the bath such as the vanity, mirror or light fixture. In that way, by the end of five years, these room will have been updated and the cost for the improvements will have been made more manageable.

So, let me know what you think. Your comments or suggestions are always welcome. And should you have any questions about real estate in Kingston, Plymouth or another town in our service area on south shore Massachusetts, please contact me or call 781-588-0961.

Thank you for visiting,

Jackie Farrell, Realtor®

BuyerBrokersRealty

The Home Inspection

Occasionally, albeit rarely, a homebuyer will ask: Does Massachusetts law require me to have a home inspection? The answer is no; however, considering that the purchase of the home will cost many, many thousands of dollars – hundreds of thousands of dollars even – an inspection of the structural and mechanical elements of the property, the cost for which (the home inspection) generally runs between $400 and $500, is truly short money by comparison. And then too there is the lender to consider who may not be willing to lend on the property without a home inspection.

And while it is not necessary for the buyer to be present during the home inspection, a savvy buyer realizes that this is a singular opportunity to observe the inspection process, to learn a great deal about the property – its components and systems, as well as having the chance to pose questions directly to the inspector. It has been my experience that buyers do not skip the home inspection.

Further, universally during the inspection, the two most common questions asked of the inspector by the buyer are:

• How much will it cost to repair or fix this __________ ?
• How long will this system or component last? In other words, what is its life expectancy?

As to the first question, I have noticed that most home inspectors are reluctant to make cost projections and therefore are not apt to give an outright quote on the cost of a repair or fix. However, the inspector will instead more likely suggest an estimate of the cost for repair that falls within a stated range, such as saying ‘the cost could be between $200 and $500′, for example.

With regard to the second question, Tiger Home Inspections, Inc. in Massachusetts has created a handy list that addresses the majority of these life expectancy questions. It is provided below, courtesy of Tiger Home Inspections.

General Life Expectancies of Electrical-Mechanical Systems and Components

Item                                                     Functional Life Expectancy

Quality Cast-Iron Boiler                                30 – 45 years

Average Steel Boiler                                      20 – 25 years

Warm-air Furnace                                         25 – 35 years

Combustion Chambers                                 10 – 15 years

Burners                                                         10 – 20 years

Compressors                                                  8 – 10 years

Solid Fuel Stoves                                           10 – 15 years

Motors                                                              5 – 7 years

Pumps                                                              5 – 7 years

Heat Pumps                                                   15 – 25 years

Air-conditioning Systems                              15 – 25 years

Galvanized Heating and Cooling Ducts          50 plus years

Humidifier                                                       7 – 10 years

House wiring (Copper/Aluminum)                          Lifetime

Circuit Breaker Panels                                     30 – 40 years

Circuit Breakers                                              25 – 30 years

Septic Tank Leaching Field                              18 – 22 years

Buried Oil Tanks                                             15 – 25 years

Above-ground Oil Tanks                                 30 – 40 years

Internal Tankless Coils                                    10 – 15 years

External Tankless Tank                                   10 – 20 years

Free-standing Hot-water Tank                          5 – 15 years

Sump Pump                                                         5 – 7 years

Once an offer to purchase has been executed, the contract, as a rule, provides for the buyer having up to ten (10) days in which to have the property inspected. Further, upon acceptance of the offer, Massachusetts law requires that the real estate agent working with a buyer provide a brochure to the buyer entitled Home Inspectors Facts for Consumers which explains everything the buyer needs to know and should know about home inspections. This information is made available so as to guarantee that the Massachusetts homebuyer is a better informed consumer about all aspects of the inspection process.

Thank you for visiting and please feel free to comment on this post with reactions to share or with questions.  And should you have any questions about real estate in Kingston, Plymouth or another town in our service area on south shore Massachusetts, please contact me or call 781-588-0961.

Until the next time,

Jackie Farrell, Realtor®

BuyerBrokersRealty

View of Jones River running along Marsh Road

These photos, taken from the town marina/boat ramp at the end of River Street, provide an overcast sky perspective of the waterfront area of the Ah De Nah. Looking across from the marina to the opposite shore of the river and more of the bay, is the area known as Kingston Shores which will be the subject for discussion in a future blog post.

The name Ah De Nah (earlier known as ‘the Nook’) comes from a western Indian expression meaning ‘a good place to stay’ or ‘good campground’. This name was given to the area by Waldo and Edgar Loring and in fact one of the streets in the neighborhood is Loring Avenue.

View of Jones River flowing into Kingston Bay

The Ah De Nah is located near the Kingston and Duxbury town line. In all, the neighborhood is comprised of six streets. You enter Ah De Nah via River Street, the primary street, which ends at the town marina/boat ramp. Off of River Street on the right are 3 side streets: Jones River Drive, Loring Avenue and Marsh Road which borders the Jones River. Loring Avenue turns into Arrow Street, running parallel to River Street, as it connects with Marsh Road. On the left side of River Street, near the boat ramp, is Bay Farm Road with water views of Kingston Bay.

Homes in Ah De Nah are mix of styles: Bungalow, Capes, Contemporary, Colonials, and Ranches. Most house lots are about one-third of an acre or more with the exception of a few smaller house lots on Marsh Road having direct frontage on the Jones River. By contrast, the lots on Bay Farm Road start at just short of an acre with some lots having multiple acreage.

When houses in Ah De Nah come up on the market , they tend to sell quickly – even in a slowing housing market. As an example, in 2010, a home located on Jones River Drive sold within twelve days and at full price, during a time frame in the housing market when the average days on market was 321 days! As one can see, this neighborhood really does appear to be a good place to stay as currently there is only one home(s) for sale in the Ah De Nah.

Please feel free to comment on this post if you have questions or reactions to share.  If you have any questions about real estate in Kingston, Plymouth or in another town in our service area on south shore Massachusetts, please contact me or call 781-588-0961.

Thank you for visiting,

Jackie Farrell, Realtor®

BuyerBrokersRealty

Making Sense of Different 'Property Values'

While in the process of purchasing a home, a buyer is apt to be introduced to different terms referring to the property’s value, terms such as ‘Assessed Value’, ‘Appraised Value’ and ‘Market Value’. These different valuations can be confusing, so a brief explanation of each may serve to clear up the confusion – hopefully! And, inasmuch as this is January, the calendar lends itself to begin the discussion with an explanation of ‘Assessed Value’.

January is the month when the Assessor of each city or town in the Commonwealth releases their certified property tax rate for the new year. Generally, tax rates go up when property values go down. In Kingston, the 2012 property tax rate is $15.33 per thousand of assessed value, up from the tax rate of $14.65 in 2011. This new tax rate for Kingston applies to all property – to real property, both residential and commercial, as well as to personal property. By law in Massachusetts, the assessed value of a property is based on it’s “full and fair cash value” or expressed in another way, on 100% of the fair market value. The amount of property taxes is derived from multiplying the tax rate by the assessed value expressed in per thousand of value. For example, if the assessed value is $337,600 the formula to calculate taxes would look something like this: 337.6 (as expressed per thousand of assessed value) x tax rate = total property taxes.

For a home buyer, the relevance of Assessed Value is that this value is used to determine the taxes which will be due to the city or town on that property . Property taxes are also important to a lender because taxes, along with principle and interest on the loan plus insurance, are lumped together to estimate the total monthly mortgage payment.

Just as is the case with real estate profession in Massachusetts, being an Appraiser is also a regulated profession requiring training and licensing. As well, there are skill levels within the profession which govern what type of appraisal may be performed by a given appraiser. And then too, there are different methodologies used to make an appraisal depending on the type of property to be appraised.

When the purchase of the property involves mortgage financing, the lender will generally order an appraisal of the property. The lender then uses the Appraised Value of the property to determine how much to lend towards its purchase. For example, if a borrower is putting down 10% and the lender is financing 90% of the purchase price but the appraisal comes in at 85% of purchase price, that 85% appraised value now represents the amount the lender will finance rather than the 90%.

For a home buyer, the relevance of Appraised Value is that this value is used to determine the amount of financing the lender will agree to extend for the purchase of the property. Therefore, as the Appraised Value is potentially so critical to the buyer’s ability to finance the purchase of the property, it makes sense for a buyer to include language in the purchase contract that addresses appraised value relative to purchase price.

‘Market Value‘ or ‘comparable market value’ is the term used by real estate professionals in assigning a value to a property. In order to obtain a value/price, the real estate agent will compare the property to be sold or bought to other properties in the market, including competing actives and those recently sold, which the agent considers to be similar in features such as location, style, age, square footage, amenities etc. Determining the market value can be fairly subjective as it is reliant on the agent’s selection of comparison properties.

For a home buyer, the relevance of Market Value is that this value is used to determine the price on the property being marketed – for sale as well as for purchase. A buyer should evaluate whether the asking price is appropriate as compared to similar competing offerings. An agent who represents the interests of the buyer will be able to assist the buyer in making that determination. Conversely, a seller’s agent must work to get the highest price for the property, usually at the buyer’s expense.

So, in a nutshell, the three different property value terms can be summed up as follows:

Assessed Value refers to the taxation value.

Appraised Value refers the lending value.

Market Value refers to the price value.

In conclusion, it should be noted that while these three terms each deal with a property ‘s value, the terms are not interchangeable as each valuation is rendered for a specific and defined purpose.

As always, please feel free to comment on this post with your reactions or thoughts. And if you have questions about real estate in Kingston, in Plymouth or in another town along Boston’s south shore, contact or call me at 781-588-0961.

Thank you for visiting,

Jackie Farrell, Realtor®

Buyer Brokers Realty

Town                                       # Sold          DOM           Median Price    ——->     % Change (-/+)

Kingston SF homes sold in 2010                111              171               $336,000

Kingston SF homes sold in 2011                  99              161               $310,000                        (Down)  -7.74%

Kingston Condos sold in 2010                       5                68               $165,000

Kingston Condos sold in 2011                     10              241               $160,100                         (Down)  -2.97%

_____________________________________________________________________________________________________________

Plymouth SF homes sold in 2010                458              151              $281,750

Plymouth SF homes sold in 2011                498              157              $273,500                        (Down)  -2.93%

Plymouth Condos sold in 2010                   114              205              $222,500

Plymouth Condos sold in 2011                   135              191              $232,500                           (UP)  +4.49%

____________________________________________________________________________________________________________

Carver SF homes sold in 2010                       77                157             $255,500

Carver SF homes sold in 2011                       98                157             $225,000                       (Down)  -11.94%

Carver Condos sold in 2010                           3                 190             $225,000

Carver Condos sold in 2011                          11                180             $200,000                       (Down)  -11.11%

Duxbury SF homes sold in 2010                  119               166              $555,000

Duxbury SF homes sold in 2011                  166               197              $534,500                       (Down)   -3.69%

Duxbury Condos sold in 2010                       18               255              $337,750

Duxbury Condos sold in 2011                       16               233              $311,500                       (Down)   -7.77%

Halifax SF homes sold in 2010                      57               119               $260,000

Halifax SF homes sold in 2011                      65               188               $243,000                       (Down)   -6.54%

Halifax Condos sold in 2010                         14                 86               $152,500

Halifax Condos sold in 2011                         18               124               $129,750                       (Down) -14.92%

Hanover SF homes sold in 2010                  116               128              $438,000

Hanover SF homes sold in 2011                  106               133              $412,000                        (Down)   -5.94%

Hanover Condos sold in 2010                        5                110              $375,000

Hanover Condos sold in 2011                        6                289              $415,000                            (UP)  +10.67%

Marshfield SF homes sold in 2010              217                141               $379,000

Marshfield SF homes sold in 2011              241                127               $333,400                        (Down)  -12.03%

Marshfield Condos sold in 2010                   36                143               $238,375

Marshfield Condos sold in 2011                   33                138               $179,000                        (Down)   -24.91%  

Norwell SF homes sold in 2010                     90                158              $531,000

Norwell SF homes sold in 2011                     92                184              $535,000                            (UP) +0.75%

Norwell Condos sold in 2010                          4                353              $267,000

Norwell Condos sold in 2011                          8                178              $430,000                            (UP)  +61.05%

Pembroke SF homes sold in 2010                127               127               $287,000

Pembroke SF homes sold in 2011                127               150               $304,000                            (UP)  +5.92%

Pembroke Condos sold in 2010                     23               303               $255,000

Pembroke Condos sold in 2011                     19               198               $207,500                           (Down)  -18.63%

Scituate SF homes sold in 2010                    193              144               $450,000

Scituate SF homes sold in 2011                    177              138               $462,000                               (UP)  +2.67%

Scituate Condos sold in 2010                         33              166               $470,000

Scituate Condos sold in 2011                         32              304               $432,500                            (Down)  -7.98%

As you can see, the market trend is mixed with the results indicating a mostly ‘down’ market in 2011. Norwell was the only town in which single family and condo median prices were up. Generally speaking, a greater number of ‘days on market’ (DOM) suggests a market that favors buyers more than sellers and of course, lower median home prices are also better for buyers.

In the coming months, we will be posting monthly market reports to track changes as they occur.

Happy New Year and thank you for visiting.  Stay tuned!

Jackie Farrell, Realtor®

Buyer Brokers Realty

Welcome sign at entrance

Earlier this week I went to Edaville Railroad in South Carver for the Christmas Festival of Lights. If you’ve never been, I recommend that you go to this event. They have other events as well during the year and there are many amusements in addition to the train, but for me, it was all about riding the train and seeing the amazing display of Christmas lights – seven million lights! And just as advertised, it was spectacular! All the more so since the lights were also reflected on the water for a double dazzling effect. It is truly a must see.

More of the Festival of Lights

Although it was a chilly evening, there was a good crowd at the park; I saw folks of all ages from tiny tots to grandparents. It was ‘All Aboard’ by 5 o’clock for first Christmas Festival of Lights train ride of the evening. The ride lasts about 20 minutes as the train slowly circles the park for viewing of the lighted displays. There was a lot of wow-ing from my fellow passengers on the train. The park also does a Polar Express event scheduled on different days. If you’re interested, you can go here to learn about all the events at Edaville Railroad. It was a fun evening.

Season's Greetings reflected in Swan Pond

I’ll close with this picture from the Christmas Festival of Lights which expresses my wishes to all of you too.

Happy Holidays and Merry Christmas.

As always, please feel free to comment on this post with your reactions or thoughts. And if you have questions about real estate in Kingston, in Plymouth or in another town along Boston’s south shore, contact or call me at 781-588-0961. Of course, you may also browse all Carver MA homes for sale right here and now.

I’ll be taking time off from blogging during the holidays, so my next post will be on January 6. 2012!

Thank you for visiting and so long until 2012,

Jackie Farrell, Realtor®

BuyerBrokersRealty

Home Styles: Shining a Spotlight on Capes

I’m going to share one of my favorites, an article from Realtor®MagOnline. This article describes more than thirty home styles, some of which are more commonly found in other parts of the country. However, this is New England so it is only fitting that I have chosen to shine a spotlight on the ‘Cape Cod’ as this style house remains one of the most popular in our area. You can read the article’s description of the ‘Cape Cod’ style home here.

Some Capes that date back to the 1700’s and 1800’s are still around and to visit one of these houses provides an interesting perspective because it is like a snap shot of history. For example, in these old Capes one might find a center chimney and perhaps a beehive oven in the kitchen. A visitor would also notice that the ceilings are lower as people were shorter some hundred plus years ago. And you probably won’t see any closets as we know them. Never mind the preferred walk-in closets of today; instead the ‘closet’ in these antique Capes will likely be but a cubbyhole in the wall. How times have changed!

Over the years the ‘look’ of Capes has changed to reflect lifestyle preferences. New and newer constructed Capes today are larger, some having multiple dormers and attached garages or other additions to the side of the traditional rectangular structure. Even the traditional pitched roof line of the Cape has seen modifications, as one now may see Gambrel Capes and also some Bow-roofed Capes. I expect that the style of Capes will continue to evolve in the future as it has done so from the past.

You may be interested in browsing Capes for sale in Kingston and Capes for Sale in Plymouth.

Please feel free to comment on this post if you have questions or reactions to share.  If you have any questions about real estate in Kingston, Plymouth or in another town in the south shore Massachusetts area contact or call 781-588-0961.

Thank you for visiting,

Jackie Farrell, Realtor®

BuyerBrokersRealty

MA Home Heating Law and Oil Leaks

If you live in Massachusetts, there is a law on the books that went into effect as of September 30, 2011. The name of this new law is The Homeowner Oil Heating System Upgrade and Insurance Law. That’s quite a mouthful! You can read all the particulars of the actual law here. This law applies specifically to properties that use oil for heating and it impacts the homeowner and can potentially impact the tenants or renters of these properties as well.

The law primarily targets older homes, those built prior to 1990, as each year numerous older homes here in the  Commonwealth were experiencing oil leaks from tank fuel lines which required costly cleanup.

So, briefly, this law was designed specifically to eliminate those oil leaks or spills from fuel lines and the subsequent expense associated with cleanup for any damage caused. And while the responsibility for the cleanup would fall on the homeowner, the tenant of a property experiencing an oil leak might also be affected through perhaps having to be temporarily relocated during the cleanup process, depending on the seriousness and extent of the leak or spill. So, if you happen to be a tenant with children and/or pets, this certainly could be inconvenient for you.

In a nutshell, the law has two provisions:

1. It requires that homeowners upgrade their home heating systems by installing either an oil safety valve or an oil line sleeve on systems that do not already have either of these devices in place;
2. It requires that all insurance companies that write homeowners insurance policies in Massachusetts now offer coverage for leaks from oil fueled heating systems.

Most homeowners are probably not aware that their blanket homeowner’s insurance policy does not cover oil leaks. That in and of itself is a good thing to know. However, now under this new law, Massachusetts homeowners can add this coverage to their homeowner’s insurance policies (at an additional cost). This is definitely something worth checking into.

And even if you don’t live in Massachusetts but use oil heat for your home, you may find the details and diagrams for the upgrade, which are included in the law, helpful to you as well. Furthermore, you may also want to talk with your homeowners insurance company, just in case—just sayin’.

Those of us who work in real estate enjoy a splendid benefit which is provided to us by our state and local associations who keep members informed on issues that are relevant to our profession. If you have been involved recently in the buying or selling process of a home that has oil heat and were working through a real estate agent, you may be aware of this new law. On the other hand, this new law may or may not be generally known by the public at large so hopefully readers of this blog will pass the information along.

I encourage and welcome your comments and suggestions.

Until the next post, signing off…

Jackie Farrell, Realtor®

BuyerBrokersRealty