Financing Changes

In the last few days big changes in condo financing have occurred. So big, in fact, that if you have a condo pre-approval letter that is more than six months old, it is no longer valid. I urge you to go immediately to your lender and learn the facts as they relate to you now.

For example, if you want to finance a condo for 80% or more, you no longer can, as of this week. The financing rules just changed. So if you were planning to pay a 20% down payment on a condo and finance the other 80%, you no longer can. This is very bad news for a lot of would-be new home owners! Don't let this change in financing stop you from buying. Maybe there are Mass Housing programs for you that you qualify for. If you are a low to moderate home buyer, check online or ask your bank or credit union about Mass Housing programs. According to the Massachusetts Association of Realtors magazine I was reading the other day, there are many programs for many types of buyers. Get the facts. There is good news for buyers, it may just be a little harder to find as of this week.

Mothers Day

Happy Mothers Day! The sun is shining, Sunday Morning Baroque is on National Public Radio, and I'm heading out to breakfast at Johnson's Farm, in North Orange with my handsome hubby. Hope your day is excellent!

Flowers

This is the day to see May flowers. The bulbs are blooming, the wildflowers are covering lawns and hillsides. I'm even planning to mow my yard for the first time this year today. Even the yellow bushes are in full color right now.

22 Willis Rd, Athol

This 1959 modular home sits on a one-acre, level lot and is priced at $129,000. The property is on the corner of Old Keene Road and Willis Road, just north of Athol, off of Chestnut. Willis Road gets little traffic but Old Keene Road is a main road. Mapquest will not get you there (Mapquest sends you to South Royalston Road), so call for directions. This is a very rural location. There are old stone walls and ponds near the property. There are no disclosures from the seller but I'd check the flooding possibilities as the home sits right on the ground, from what I can see from the street. For homes in this price range, I'd take the time to give this one a look if acreage is something you value. I haven't been inside, but when a realtor doesn't show any inside pictures, and there six external pictures on MLS, that usually means the inside has nothing worth taking a picture of, so buyer be ready for no updates since 1959.

Bicycling

I'd love to bicycle off the road, is there a place? Yes! The Norwottuck Rail Trail goes all through Hadley, Amherst and Northampton. This trail crosses the Connecticut River, goes behind the Hadley mall, behind the homes east of MA-9's Amherst ball field, and beyond in both directions. This trail is also good for roller-blading and walking and jogging. Get out there!

The Market

The market in our area is fine. For example, there are 22 new listings this week in Amherst and Hadley. Today I toured homes in every price range from a condo for $154,900 to a mansion for $1,250,000 and everything in between. So there is a lot to choose from if you are a buyer. Unfortunately for buyers, seller's prices haven't dropped as much here as they have in other regions.

Also unfortunately, foreclosures are up, also. I heard on National Public Radio today that many renters are loosing their homes due to the home they rent being foreclosed upon because the homeowner couldn't pay the mortgage. Tip: Massachusetts requires landlords to give renters the information on where the renter's security deposit is held. The law also requires that landlord to keep that money in an escrow account not accessible to creditors. The law also requires landlords to offer to give the renter the interest earned from that deposit each year. So, if you are a renter, be sure this is the case with your landlord. This diligence on your part could save you $$s if your home is foreclosed. Don't be one of the many renters I heard about today who lost their deposit, as well as their home, via eviction. I am not a lawyer, so if you need legal advice, seek professional representation.

Historic New Salem

Is there a town in the north Quabbin with all the historic charm of old New England? Yes, Old Main Street, New Salem. If you love a tree-lined street, an old town hall and a newly restored town library, the 1794 Meeting house and a often-used town common, then New Salem is for you. And I can't forget all the historic old homes. There is even a walking map available if you'd like to know the history of each home. Just follow the signs to the town center from the New Salem General Store on MA-202. And don't forget to stop at the reservoir overlook behind the volunteer fire department.