John and Anthony on FOX25 Morning News Show 3 Beautiful Homes in Massachusetts
Related blog post: 3 Beautiful Homes on the Market in Massachusetts
Spring is here and that’s usually when house hunters really get going and everyone wants a deal. Joining us now are our real estate experts John McGeough and Anthony Lamacchia of Lamacchia Realty thanks for being here this morning.
I love this idea of doing this we picked the price range here is $300,000 and you’re going to tell us what we can get for our money in three different locations. So where shall we start. Let’s start with Framingham and we have pictures here so this is the $300,000 dollar range, tell us about this one.
On for $339,000, it’s a 4 bedroom, 2 and a half bath, extremely well priced this house was sold in the mid $400,000 range and I want to say that again, it was sold for in the mid-$400,000 range back in ’06 or ’05, and now we got it on for $339,000.
Wow- a massive difference!
Absolutely. And we’ve been saying now for months how unbelievable it is to buy right now, these are just kind of tip of the iceberg as far as the availability right now
And at least as of Friday the interest rates were 3.75% with an FHA loan so someone could put 3 and a half percent down on that house and buy it for $2000 a month. You couldn’t even rent a 4 bedroom single family house for $2000 a month.
In fact I think it’s more expensive to rent now than it is to buy if you can get the down payment in there. So with an FHA some people could probably afford that. Ok let’s look at you mentioned Mendon also in the $300,000 range. Tell us about this one.
On for $299,000 it’s a 3 bedroom this one I love because this one is [built in] 1730 this is older than our country so you’ve got this unbelievably historic property, you’ve got the post and beam construction, and you’ve got all these nice little nooks so we loved this house and it’s priced so competitively you cannot touch this type of home once again 5 or 6 years ago, for the $299,000 price point and you’re talking about 16, 17 hundred per month once again with the unbelievable interest rates.
How close to the price do you think someone would actually get it, because sometimes you say these prices are rock bottom then you end up in a bidding war with somebody do you think that would even happen this time
Sometimes it happens it depends on how much the interest is at one time now on these properties we represent the sellers, so obviously we want to get as much money as we can for them so we have to be careful how we answer that, but they can be had for a fair price.
Ok now’s a good time so this last one here is in Hudson also in the $300,000 range.
This one we just dropped the price down to $290,000. This is a great place a single family house in somewhat of a community I forget how many units are in there a great place, 3 bedrooms, 2 and a half baths, built in ’06, or ’05, they had bought it somewhere in the $300,000 and we’ve got it on for $290,000. So again a great deal you can buy this home for $1700 a month you could not rent if for $1700 a month.
Unbelievable so with something like this, I mean some of these look, they’re beautiful homes, and some of them not terribly updated necessarily, is this a chance for people to get in, get into a home, just so you can do whatever you want down the line, is this a golden opportunity?
I mean I’d say for these homes you’ve got some updates but even sometimes a home that’s two or three years old, and you want to go in and still want to redo a bath or redo a kitchen but we always advise buyers to be careful with the budget and the expectation but all of these homes you move right in and once again priced extremely well.
Are you seeing a lot of this at this time, I mean it’s pretty good inventory than they were a couple of years ago.
And also this is the peak time of year for homes coming on the market, if anyone’s even thinking of buying they should really be paying attention right now because from now until about May 1st is the peak time of year that things are really coming on the market peak time for active inventory. It’s a good time.
All right, keep your eyes peeled out there so John McGeough and Anthony Lamacchia of Lamacchia Realty thanks for being here.