Blog :: 04-2015

When You Have To Sell First, Buy Next - Tips for Buying & Selling a Home Simultaneously

So it's time to buy a new home. Whether the family is growing and you need more space, or the kids are gone and you want to downsize - you have the tricky business of selling your current home before you can buy the next one.

That can be challenging in a 'normal' market, but today's low inventory levels are leaving people fearful of being 'stuck' -- selling a home without having a new place to move in to. Rumors circulate that sellers won't accept offers subject to selling an existing home because they have other offers they can accept. So how can you compete?

First, welcome to the brave new real estate market. Second, you're not alone. Third, you have options.

Let's be honest. There is no silver bullet to solving this dilemma - but there are options. If you take it one step at a time and surround yourself with a knowledgeable support team, risks can be minimized and tricky transitions can be overcome.

Here are 5 important steps to get you in the market.

1. Be prepared. The first step is to contact a trust REALTOR® for a Current Market Analysis (CMA) of your home. The CMA will give you insight on the value of your home, potential expenses, the best timeline as well as a comprehensive overview of the market conditions.

2. Get Your Finances In Order. Contact a trusted lender and obtain a pre-approval letter. Understand the value determined for your home by the REALTOR® and get qualified for a mortgage. Also, find out if a bridge loan or equity loan might be an option. The proper pre- approval or loan program can make you a stronger buyer in the eyes of sellers.

3. Start Your Search. Based on the value of your home and your pre-approval letter, you are ready to start looking at homes. You may be in a position to place your home for sale, subject to you buying a new home. Think of it; if you have your house sold and know what you can afford to buy, then you can go out and make an offer on the home you want because all of your proverbial ducks are in a row.

4. Look at short term rentals. This is not usually a preferred choice, but it may be the best alternative. If you need to sell your home first, it can be difficult to sell, buy and move in on the same day. Also, your new home may need some minor repairs or cosmetic updating before you move in. It's possible the buyer of your home may let you to stay for a short period of time, but it's better to have the safety net in place, just in case. Remember, buyers have been faced with many of the same challenges as you, and they are more likely to be flexible.

5. Look at new construction. Buying new construction can be a great option. Not only are you buying a new home with inherit benefits, you have a more definitive timeframe for selling your current home, thereby making it easier to coordinate the entire process.

Summary

  1. Have your team in place - real estate agent, mortgage broker and attorney.
  2. Have a CMA prepared for your home.
  3. Get a pre- approval from a credible lender and know what mortgage is best for you.
  4. Go out and explore current homes for sale.
  5. Look at new construction - is it for you?
  6. Look at short terms rentals in the area.
  7. Contact a trusted mover and get a quote on moving expenses and storage options.
  8. Make a detailed assessment of your options.
  9. Keep your entire team updated so everyone has your goals in mind.
  10. Selling your home subject to finding a home is a viable option in this market.

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Arlington Spring Home Expo a Success!

Thanks to all of those who came out to the Arlington Spring Home Expo! This was the first event of its kind and it was a huge success! And by success we mean a fantastic turnout of people who came curious, asked great questions and left more informed, educated, and excited about their real estate possibilities.

Thank you again to our sponsors and business partners: Allyson Kreycik of Guaranteed Rate, Cindy Kelley of From Clutter-to-Clean and Gentle Giant Movers.

See all of the pictures from the event here!

If you were not able to make it to the event, please contact us and we would be happy to answer any questions you might have about buying or selling your home.

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Things That are FREE at the Arlington Spring Home Expo

Maybe there's no such thing as a free lunch, but there will be plenty of 'free' served up at the 'Expo. Here is a list of free stuff that you'll get when you visit the Arlington Spring Home Expo tomorrow, 4/18, from 10:00 a.m. - 1:00 p.m. at the Whittemore-Robbins House!

Advice

Everything from real estate, to financing, to staging, to storage. We've got your questions covered.

Food

Because talking houses can make people hungry. We'll have breakfast foods and coffee to get your day off on the right foot.

Entertainment

For this kids that is! Coloring books and crayons will keep them busy (and they can bring them home!)

Giveaways

An Arlington Community Card to the first 30 people! This card is a discount card for over 30 local shops and restaurants!

From our sponsors

Allyson Kreycik from Guaranteed Rate - $1000 off of closing costs*

Gentle Giant - Enter a for a chance to win moving boxes and learn about discounts off storage solutions.

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*When attendees use Allyson Kreycik for their mortgage solutions

 

Spotlight Homes of the Week - Arlington, Burlington, & New Construction!

So much to see and do this weekend, you'll need to pace yourself! We thought we'd help you out with this calendar of events - from us to you :)!

Saturday April 18th: The Arlington Spring Home Expo, Saturday April 18th from 10 a.m. to 1 p.m. Don't miss this one-of-a kind event that kicks off at the Whittemore-Robbins House at 10 a.m. This is a free, open forum event that will provide advice, tools, resources, and one-on-one consultations to help you be successful in today's real estate environment.

Sunday April 19th: Come to the open houses for: (see details below)

5 Rockland Ave., Arlington - 12:00 PM - 1:30 PM

78 Newport St., Arlington - 11:30 AM - 1:00 PM

38 Park St., Arlington - 11:30 AM - 1:30 PM

47 B Seven Springs Lane, Burlington - 11:30 AM - 1:00 PM

Monday April 20th: Patriots Day! While there is no Arlington parade this year, there is plenty to celebrate. The Menotomy Minute Men will honor those who lost their lives in our town with a flag-raising and burial ground ceremony beginning at the Town Hall flagpole, 7:30 a.m. Then get ready to cheer on the runners of the Boson Marathon and the Red Sox throughout the day!

Now see these amazing new listings and we'll see you Saturday!

5 Rockland Ave., Arlington 

5 Rockland

Have you been looking for a serene setting? A newer home on an oversized lot? Lots of space that you can grow into? This home is the one you have been waiting for! Enjoy luxury, style and an open floor plan designed for today's lifestyle! Enter into the two-story foyer and take in the magnificent detail of the staircase and open bannister above. The first floor features beautiful dark wood floors, front-to-back living and dining room, exquisite kitchen that is open to the family room which has a fireplace. There is a lovely deck off the kitchen/family rooms. With 4/5 bedrooms, 3 1/2 baths including a tranquil master bath with w/double sinks, oversize shower and water closet there is plenty of room for everyone. Finished 3rd floor is a treat w/amazing views consisting of a large family room, bedroom or office, & spacious bath. Complete with central air, two-car garage (wired for electric car charger) and plenty of storage space in the walk-out basement! All this on a private dead-end street! (MLS #71818941)

Listed: $1,199,000

What's Nearby: Arlington Center shops and restaurants, public transportation, Mass. Ave., Minuteman Bikeway.

78 Newport Street, Arlington

78 Newport

Extremely spacious two level condominium in Brackett neighborhood close to the Brackett School and Robbins Farm. This magnificent condominium is larger than many single family homes and offers a fabulous layout with an open floor plan. The kitchen has been beautifully updated and includes granite counters, a breakfast bar and is open to the family room. There are beamed ceilings and natural woodwork in the living room and dining room. It offers three bedrooms and two full bathrooms with a wonderful master bedroom with built-in cabinets and a private deck. The top floor has an open room which is great for home office or playroom. There is terrific yard, garage parking and an extended driveway. This has it all. (MLS#71818830)

Listed: $609,000

What's Nearby: Arlington Center shops and restaurants, public transportation, Mass. Ave., Minuteman Bikeway, Brackett School.

38 Park Street, #Unit # 38, Arlington   

Park

First three rules of real estate are: Location, Location, Location! These brand new construction luxury townhouses are located near Arlington Center and public transportation. Featuring an open floor plan, granite counters, stainless steel appliances and a center island open to dining and living rooms. There are beautiful architectural moldings and panels, recessed lighting and hardwood floors throughout. The second floor features two large bedrooms and closets, full bath and laundry area. The 3rd floor master suite is complete with gas fireplace, and 2 walk in closets. Radiant heat in master bathroom floor. Garage parking, central air, 2 heating systems, tankless on demand water heater and central vac add to the value. A private back deck and large fenced in yard allow you to enjoy the outside weather. This builder has built with meticulous attention to detail and it's a true show piece, don't miss it! (MLS #71819041)

Listed: $769,000

What's Nearby: Arlington Center shops and restaurants, public transportation, Mass. Ave., Minuteman Bikeway.

46 B Seven Springs Lane, Burlington 

46 B Seven Springs

A rare offering in the Lodge Building - don't miss out! Fabulous first floor, corner unit with private patio and direct access from garage. Perfect one level living with soaring 9' ceilings, an open floor plan, two spacious bedrooms including a lovely master bedroom suite with private bathroom and double closets. The kitchen is quite spacious with granite counters and an abundance of cabinets and counter space. Seven Springs is one of the premier condominium communities offering a swimming pool, club house, beautiful grounds and convenient access to all your favorite shops and restaurants with easy access to I-95 and Boston. If you're looking for carefree living on one level, you have to stop by and see this unit! (MLS# 71818748)

Listed: $519,000

What's Nearby: Burlington shops and restaurants, Burlington Mall, Middlesex Mall, I-95, Arlington Center, Lexington Center.

 

Arlington Real Estate 

SINGLE FAMILY 

Address  Rooms Bed Bath Style Price
73 Oak Hill Dr. 7 3 2f Cape $599,000
2 Kings Court 6 3 2f 1h Colonial $679,000
37 Hemlock St. 8 5 2f Colonial $649,900
91 Richfield Rd. 5 2 1f Cape $517,000
5 Rockland Ave. 10 4 3f 1h Colonial $1,199,000

 CONDO 

Address Rooms Bed Bath Style Price
30 Peirce St. U:0 5 2 1f 2/3 Family $415,000
39 Beacon St. U:39 7 3 2f 1h Townhouse $649,000
123 Palmer St. U:2 6 2 1f 2/3 Family $449,000
85 Marathon St. U:2 6 3 2f 1h Townhouse $599,000
78 Newport St. U:78 9 3 2f 2/3 Family $609,000
120 Lowell St. U:1 6 3 1f 1h 2/3 Family $549,000
38 Park St. U:38 6 3 2f 1h Townhouse $769,000

 MULTI-FAMILY  

Address Rooms Bed Bath Style Price
23 Mt Vernon St. 8 total 4 total   2-Family $585,000

 

Arlington Spring Home Expo PREVIEW

Wondering what you'll find behind the doors of the Whittemore Robbins House on April 18th? Picture plenty of real estate information, with equal parts advice and guidance, topped off with free food and giveaways.

Register today: info@yourhomeforsale.com, 781-645-0505

When we're out at open houses and consulting with clients we're always listening. It is clear that the ever-changing dynamics of the Greater Boston real estate market have left many people uncertain about how to move forward with their real estate plans.

As such, we have structured the Arlington Spring Home Expo to address all of your questions - from the most complex real estate sales to moving fundamentals. It's all on the table.

Here's a little preview of information you'll find at the Expo:

  • Pulling your team together (real estate agent, mortgage broker and attorney).
  • Preparing a timeline to sell your home.
  • Getting your financials in order and obtaining a pre-approval letter.
  • Forming a strategy to buy a home when you have a home to sell.
  • Understanding the ins-and-outs of downsizing.
  • Moving Q&A, including projected expenses and storage options.
  • Looking at new construction coming on the market and whether it's right for you.
  • Deciding: what's the right move for you - renovate, rent, move up or move out?

 

Arlington Spring Home Expo

Saturday April 18th, 10:00 a.m. - 1:00 p.m.

Whittemore Robbins House, Arlington

Register today: info@yourhomeforsale.com, 781-645-0505

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Image via: Kosheen, Dollar Photo Club

Spotlight: Arlington, Medford, Belmont Homes of the Week!

Arlington, Medford, Belmont - oh my! Follow the yellow brick road (or the Red Line) out to these towns and see what location, location, location really means. We have five fabulous listings - there's no place like these homes!

By the way, don't forget to mark your calendars for the Arlington Spring Home Expo, Saturday April 18th from 10 a.m. to 1 p.m. at the Whittemore Robbins House. This is a free, open forum event that will provide advice, tools, resources, and one-on-one consultations to help you be successful in today's real estate environment.

See you around town!

100 Village Hill, Belmont

100 Village Hill

Prestigious Belmont Hill location, in Winn Brook School! You will love this traditional home which combines many updates with classic charm! The gracious foyer welcomes you and leads to a fireplaced living room, with wainscoting, built-ins and a formal dining room, with two china cabinets! This delightful home, with great character, boasts 10 sizable rooms, including a master bedroom with en suite, plus three additional 2nd floor bedrooms, one wood paneled! Enjoy the updated kitchen with dining area, great storage, laundry and mud room. There is an additional first floor den or guest space, plus a bright sunny library with built-in files and bookshelves. This traditional home boasts great closets, one cedar, ample storage and a two car garage, plus work space. Enjoy spring in your inviting "Garden Club" featured garden, with patio. The large lot and home offers privacy, close to Cambridge, Boston, Route 2 and all that Belmont has to offer, schools, shops, restaurants and transportation! (MLS#71814563)

Listed: $980,000

What's Nearby: Belmont Center shops and restaurants, Belmont Hill Neighborhood, public transportation, Route 2, Winn Brook School.

8 Swan Place, Arlington 

8 Swan Place

With a walking score of 90, this over-sized two family is steps to Mass Avenue in Arlington Center and abuts the Minuteman Bike Trail with easy access to Spy Pond Field. This home has a very spacious lot with two driveways and offers lots of potential with 5 rooms on the first floor and 8 in the second floor apartment. The house has been in the same family for over 7 decades and has received numerous, recent updates such as newer gas boilers, newer gas hot water, updated windows and more, but will need TLC. The house was originally built as a single family home and has a very different floor plan and adds to the options when you are ready to renovate. This is a rare opportunity to own such a large home in Arlington Center with access to all the fabulous restaurants, shops and public transportation. (MLS#71814367)

Listed: $679,000

What's Nearby: Arlington Center shops and restaurants, Minuteman Bikeway, public transportation, Route 2, Spy Pond Field.

12 Headland Way, Medford 

12 Headland Way

Don't miss this great, 3-plus bedroom, home in a terrific neighborhood! The bright and open, first floor boasts a formal living room with fireplace and built in bookcases and drawers, as well as a family room and an open concept, kitchen and dining room, plus a half bath. The family room leads to a sizable screen porch overlooking the landscaped garden, which is great for guests, kids and pets. The updated kitchen with granite counter tops and open floor plan, will make entertaining a breeze. The second floor offers an updated full bath with double sinks and great storage, a master bedroom and two additional bedrooms, plus a second floor family room, office or pass through 4th bedroom, whatever you want! The basement has a finished room, office and an updated full bath with laundry, perfect for guests. You will love the thoughtful improvements and location of this classic colonial, close to transportation, by bus or commuter rail, schools, restaurants and West Medford Square! (MLS #71814489)

Listed: $579,000

What's Nearby: Medford Square shops and restaurants, public transportation, Commuter Rail, Mystic Valley Parkway.

306 Forest Street, Arlington 

306 Forest Street

Terrific and well maintained home, close to schools, the bike trail and Arlington Heights! You will enjoy this beautifully updated house with open plan kitchen, three sizable bedrooms, one and a half baths and a bonus family room on the lower level with sliders to the garden - great for kids, guests or watching the big game. This classic center entrance colonial offers a large, front to back, living room with bay windows, gas fireplace and French doors opening to the lovely deck. The kitchen is open to the dining room, which also boasts a large bay window. Bright and sunny, this home has it all, great closets, storage space, gas heat and cooking, plus ample off street parking. Just in time for spring and summer, relax and enjoy entertaining on your private deck, with retractable awning, overlooking the fenced yard with sprinkler system! Updates include newer heating system, tank-less water, low maintenance vinyl windows and siding all make this home feel like new and move in ready! (MLS# 71814348)

Listed: $559,000

What's Nearby: Arlington Heights shops and restaurants, public transportation, Minuteman Bikeway, Pierce School.

14 Sunset Road, Arlington 

14 Sunset Road

A REAL CHARMER!! This delightful Bungalow style home is adorable with an abundance of natural woodwork and hardwood floors. The first floor is spacious and open with a large sunroom as you enter, and the living room is quite large and open to the dining room. Adjacent to the dining room is a small, private office or den. The kitchen is spacious and has direct access to the rear yard. The second floor hosts two spacious bedrooms with ample closet space. Most recent updates include thermos-pane windows, in 2012 a hot water tank was installed and in 2014 a gas fired boiler was installed. Close to public transportation and the bike path. This is a perfect starter home or condo alternative. It truly is a lovely home and a must see!

(MLS# 71814352)

Listed: $449,000

What's Nearby: Arlington Heights shops and restaurants, Minuteman bikepath, public transportation, Route 2.

Arlington Real Estate

SINGLE FAMILY 

Address  Rooms Bed Bath Style Price
14 Sunset Rd. 7 2 1f Bungalow $449,000
34 Gorham St. 6 4 1f Cape $485,000
16 Spring St. 8 3 1f 1h Colonial $529,000
306 Forest St. 7 3 1f 1h Colonial $559,000
50 Mott St. 6 3 1f 1h Cape $575,000
15 Campbell Road 7 3 1f 1h Colonial $599,000
18 Norcross St. 8 3 2f Colonial $639,000
241 Hillside Ave. 7 4 2f Cape $649,000
23 Eliot Rd. 7 4 1f 1h Garrison $650,000

 CONDO 

Address Rooms Bed Bath Style Price
14 Arizona Terr. U:10 3 1 1f Low-rise $185,000
53 Appleton St. U:3 3 1 1f 1h Detached $285,000
40 Peirce St. U:40 5 2 1f 2/3 Family $369,900
4 Orvis Rd. U:4 5 2 1f 1h 2/3 Family $409,000
82 Webster St. U:82 5 2 1f 2/3 Family $439,900
15 Varnum St. U:C 5 2 2f 2/3 Family $449,000
62 Amsden St. U:62 7 2 1f 2/3 Family $449,900
24 Kilsythe Rd. U:24 6 2 1f 1h 2/3 Family $459,000

 MULTI-FAMILY  

Address Rooms Bed Bath Style Price
46-48 Johnson Rd. 10 total 4 total   2 Family - 2 Up/down $599,900
36-38 Fordham St. 12 total 5 total   2 Family $665,000
10-12 Burton St. 10 total 4 total   2 Family $675,000
55 Tanager St. 12 total 6 total   2 Family - 2 Up/down $679,000
8-8A Swan Pl. 12 total 6 total   2 Family - 2 Up/down $679,000

 

 

Arlington Spring Home Expo!

Buyers and sellers, are you unsure of what to do in this challenging real estate market: Do you wait? Refinance? Renovate? Rent? List High? Bid Low?

The Arlington Spring Home Expo is everything you need know now - on one day, under one roof.

Where: The Whittemore-Robbins House in Arlington (behind the Robbins Library)

When: Saturday, April 18th from 10 a.m. - 1:00 p.m.

This one-of-a-kind event hosted by Steven McKenna & The Home Advantage Team will feature plenty of new construction and new listings coming on the market in Arlington (single-family, condos, multi-family), and experts in moving, storage, staging and financing will be on hand to address a wide range of questions.

It is a free, open forum event that will provide advice, tools, resources, and one-on-one consultations to help you be successful in today's real estate environment.

Stop by or register today - prizes go to the first 30 people!

Email: info@yourhomeforsale.com

Phone: 781-645-0505

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