Housing inventory, although improving, still remains on the low side for most of the metro west of Boston towns. There are so many buyers of all income brackets who are now ready to purchase a home but simply not enough homes for sale. They have their pre-approval letter from the bank to know what they can afford and they have done some research on where they want to live.
I am working with two very eager couples who are just waiting for the house that meets their search criteria. Every buyer has certain wants and needs in a home but these folks are both very realistic in their demands.
Meet Gretchen & Eric. They are young, first-time buyers who are only a few years out of college and want
to start building equity by owning a home. They hope to put a home under contract on or before the April 30thtax credit deadline. They spoke to their mortgage broker who advised them that with their combined incomes/savings they should be conservative and stick to a home under $325,000. Gretchen & Eric have done their research and have narrowed their search to the towns of Mendon and Franklin based on the excellent school systems and convenience to the commuter rail to Boston for work. They want a house rather than a condo since they have a dog who could use a small yard. If you know someone who is thinking of selling a Franklin or Mendonhome on a side street priced under $325,000 with at least 3 bedrooms and 1+ bathroom please give me a call...
Meet Ramona & Paul. They are older and Paul has 2 twenty-year old twin daughters sometimes living with them from his previous marriage. Together they have 2 young children, ages 1 and 4. This couple is not concerned about the tax credit deadline but are eager to find a luxurious, spacious home near Ramona's work and their daycare which is in Westborough. They will also consider the towns of Southborough and Hopkinton and may or may not put their young children in private school. Paul works from home so location is not as important for his needs. They have owned previously but have been renting for several years and are ready to find a home that meets "the needs of all of us". Their savings and incomes allow them to search in the $500,000 to $800,000 range which the bank has confirmed. After intiallyviewing homes in the lower end of their price range they have decided they must spend more to get what they really want since they will likely stay for 15+ years. Ramona & Paul want a home with at least 3000 sq. ft. of living area, 4+ bedrooms, a finished basement, a large backyard and ideally 2 heat and 2 cool zones. They prefer open spaces, high ceilings and more contemporary styling. Do you know of a home for these buyers?
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