Spring has sprung; Real estate market shows signs of new life. Reply

Economics of Real Estate • Tags: , , , ,

April sales numbers demonstrate that the real estate market continues to improve across the nation and in Massachusetts.  Single-family home sales and median home sales were up across the country and in the commonwealth.  Although April single-family home sales were up in the Pioneer Valley, median home prices were down.

A community garden flourishes in Northampton much like the real estate market is beginning to do in the Pioneer Valley.

According to the National Association of REALTORS® (NAR), existing home-sales increased 3.4%. Existing home sales include single-family homes, townhomes, condominiums, and coops.  What’s more, NAR reported that the national median existing-home price jumped in April 10.1% when compared to April 2011. More…

Amherst proposal for zone change that implements form-based code in North Amherst and Atkins Corner fails; Dickinson Local Historic District established Reply

Local Real Estate News • Tags: , , ,

A proposal to adopt a form-based code in the Atkins Corners area in South Amherst failed at Town Meeting.

The town of Amherst recently voted on a number of issues relating to real estate.   They voted down a couple of zoning change proposals and approved the formation of an historic district

A shift to a form-based code, in the area around Atkins Market in South Amherst and in the center of North Amherst, was narrowly defeated at Amherst town meetings earlier in the month.   Although a majority voted in favor of both zone changes, the vote fell short of the 2/3 required to pass. More…

Western Mass Condo For Sale: Two Bedroom Garden Unit for only $62,000 Reply

My Listings • Tags: , , , ,

Across from the Riverbend Condominiums, a trail runs along the Swift River to the Quabbin Reservoir.

Bondsville is a village in the northern end of the town of Palmer, a western Massachusetts community with a population of about 12,300.  The Mass Pike runs through Palmer at exit 8 and is one of the potential sites for a casino.

Bondsville is one of four villages in Palmer and is located along the idyllic Swift River.  It has its own post office and volunteer fire department.  Next to the post office there is also a park. More…

Western Mass Attractions: Quabbin Reservoir Reply

Western Mass Attractions • Tags: , ,

The Quabbin Reservoir is the largest body of water in the Commonwealth. Its construction in the 1930’s displaced families and erased the towns of Dana, Prescott, Greenwich, and Enfield from the map. Every year on Memorial Day weekend, area towns gather at Quabbin Park Cemetery to remember those that paid the ultimate sacrifice from the four communities lost to the Quabbin.

The Quabbin Reservoir supplies water for Boston, but it also is a great place to picnic, hike, birdwatch, bicycle, fish, or take in the breathtaking views. The Friends of the Quabbin maintain an informative website about the reservoir.

A Maple Tree provides shade near the Quabbin Visitor Center in Belchertown, MA.

More…

Belchertown Bar For Sale: The Black Moon Music Lounge Reply

My Listings • Tags: , , , ,

Still open for business and located at 37 Main Street in Belchertown, MA, the Black Moon Music Lounge is for sale. It was voted “Best in the Valley” in a Valley Advocate Readers’ Poll. (Click photo for larger image.)

Located in Belchertown, Massachusetts, the Black Moon Music Lounge is a great opportunity looking to break into the bar business.  It was established in 2008 and was voted “Best in the Valley” in a Valley Advocate Reader’s Poll in 2009.

The bar is currently open 7 p.m. to 1 a.m. seven nights a week with some for entertainment every evening.  Whether is Open Mic Monday’s or a weekend feature act, there is always something going on at the Black Moon Music Lounge. More…

REALTORS® converge on Washington D.C. to support homeownerhsip Reply

Real Estate Law • Tags: ,

Make your first call to Michael Seward at 413-531-7129 if you are looking to buy or sell a home in western Mass.

REALTORS® from across the country converged on Washington D.C. for a rally to protect homeownership.  The National Association of REALTORS® (NAR) has been working to make home ownership in America more attainable for over 100 years.  In 1900, fewer than 50% of Americans owned their home.   Today that number is closer to 70%.

Members of NAR are rallying today to make sure that Congress understands the issues important to homeowners. These include taxation, real estate finance, property insurance, appraisal issues, and commercial real estate related issues. More…

Western Mass communities adopt bylaws to regulate solar arrays Reply

Green Real Estate • Tags: , , , , , , ,

Towns in western Massachusetts are beginning to adopt solar bylaws.

Thanks to the Green Communities Act, Massachusetts is working towards its goal of installing 250 megawatts of solar energy by 2017 and 400 megawatts generated by 2020. In order to get this done, the Act put in place renewable energy credits and incentives to encourage residential and business solar energy improvements. Of course this is in addition to Federal incentives. They also required utility companies to buya certain percentage of their energy from renewable resources.

As interest for solar energy generation grows among western Massachusetts communities, cities and towns are adopting solar bylaws in an effort to guide the development of large-scale solar projects. Some towns have even prefaced their solar bylaws by stating that they were adopted to promote the development of large-scale solar arrays.  More…

FHA Establishes New Rule That Affects Home Buyers Reply

Lending Topics • Tags: , , , ,

The Federal Housing Administration (FHA) has established a rule that prevent those seeking an FHA insured loan from getting a mortgage if they are dealing with a credit dispute of $1,000 or more.  The rule took effect on April 1.

Now buyers will have to either pay-off the outstanding credit issue or enter into a payment plan and make at least 3 payments on that plan.  This payment plan will then subsequently need to be included in a buyer’s debt-to-income ratio when applying for an FHA insured loan.

According to Housewire.com:

“The rule marks a significant belt-tightening at the FHA whereas the administration earlier held no such requirement that disputed credit accounts needed to be paid off. Before this rule, a direct endorsement underwriter could determine if any of the borrower’s outstanding debts should impact the approval of the FHA-backed mortgage.”

The Tampa Bay Times reported that the new rule does not apply to disputes two years old or older or to cases of identity theft.

“Credit accounts more than 2 years old or those related to identity theft will not be factored into the new rule. The lender, however, must document the fraudulent charge with a police report. If the outstanding balance of all collection accounts is less than $1,000, borrowers are not required to pay off the debts to get mortgage approval, the FHA says.” More…

How an energy audit is beneficial when selling or buying a home Reply

Green Real Estate • Tags: , , , , , , ,

Michael Seward is a member of the National Association of REALTORS Green Resource Council and has earned the their Green designation. Call Michael Seward at 413-531-7129 if you plan on selling or buying a “green” home.

Energy costs should be among the most important considerations when buying a home.  The volatile prices for oil, propane, and natural gas can have a significant impact on a home owner’s budget.  Therefore, whether you are buying or selling a home, it is a good idea to have an energy audit conducted.

Home sellers benefit because they can make their home more saleable, and may even add value, by identifying energy loss and implementing energy saving improvements, and buyers benefit because they will save thousands of dollars on energy costs after they buy a home.

Free energy audits are available to homeowners through MassSave.  Homeowners benefit from a MassSave energy audit because it includes a number of incentives:

  • 75% up to $2000 toward the installation of approved insulation improvements
  • No-cost targeted air sealing
  • Generous rebates on qualifying energy-efficient heating and hot water heating equipment
  • The opportunity to apply for 0% financing for eligible measures through the HEAT loan program
  • And more

More…

Granby Home for Sale: 55 Pleasant Street, Unit 15 Reply

My Listings • Tags: , , , , , , , , ,

This two bedroom condominium is located near the five corners intersection in Granby. Granby is a rural town with a traditional town center boasting a gorgeous tree-lined town common, a modest public library, an old church, neighborhood drugstore, and a new public safety complex.

Granby also offers easy access to major routes and the Five Colleges area. It is bordered by Belchertown, Amherst, South Hadley, Chicopee, and Ludlow.

The condo is located in the Crescent Valley Condominium Complex, which consists of 26 town houses. The complex is set back from the road, basically eliminating any traffic noise that may result from being located within walking distance from the 5 corners area. This intersection offers a bank, a Dunkin’ Donuts, a bicycle shop, a gas station, a hair salon, and a new CVS is due to open soon. More…