Maria Varrichione Real Estate Blog

Buying Land Could Be Lucrative

Maria Varrichione — Sun, 20 May 2012 11:05:28 +0000

There are many ways that you can invest in real estate. One way is by purchasing land. This option can be a very lucrative choice, as long as you keep the few important points in mind. The reason why purchasing land could be a viable option is because you get to pick your location, and build a home to your specs. This will allow you to find your own contractors to construct your building for you. By having full control over who you choose and what you pay, it becomes easier for you to save on costs.

Keep in mind that while you do have full control over who you choose to build on your property, it also means that there will be more responsibility hanging over your shoulders. For example, you would need to make sure that you have all the right permits to construct your building, and you also have to make sure that you choose the right contractors; otherwise the whole project can turn into a big catastrophe. Therefore, before deciding to purchase a piece of property that is completely void of any buildings, take some time to do some research, as this will save you a lot of headache in the long run.

Buying land in a down market can also be a great investment. Land is becoming harder to come by, which is creating a higher demand for land and in turn bringing the price up. Buying land now and holding onto to it could bring some great return. Think about it in 10 years from now there will be a lot less land and your lot could be worth a pot of gold. Invest now and reap the rewards down the road. Think of it like a savings account, you deposit money into a piece of land and watch your money grow!

Single-Family – Mendon, MA 01756 now has a new price!

Maria Varrichione — Sat, 19 May 2012 18:00:37 +0000

When extraordinary is what you expect you will be delighted with this home! Regal 2×6 construction home with all the bells and whistles set on over 2 acres with long stately drieveway & private setting. Great commuter location, minutes to 495, and Rt. 140. Resort- like in-ground pool with cabanna ready for summer enjoyment. Whether you have a large family or just like to entertain you will love this custom Scandia kitchen. Lavish master suite on 1 st level, and the list goes on a must see!

This is a Cape style home and features 9 total rooms, 2 full baths, 1 half bath, 3 bedrooms, 2.18 Acres, and is currently available for $535,000.

For complete details click here.

Open house at Franklin, MA 02038

Maria Varrichione — Fri, 18 May 2012 17:12:11 +0000

View Photos
Starts: 5/19/2012 1:00:00 PM
Ends: 5/19/2012 3:00:00 PM
For Directions: click on the map image or feel free to contact me.
For more information: click here for the full details

Fabulous opportunity to own this townhome in sought after Forge Hill at a terrific value. Liberal sized rooms, wonderful open floor plan. Cathedral family room with grand fireplace & overlooking balcony from 2nd floor loft. Beautiful views from one of the 3 decks to wooded conservation land. Feels like you could be in the country with less than an hour proximity of 3 major cities. Convenient commuter location, walk to train & YMCA. Bonus of finished room in lower level & fully Insulated garage.

Condo – Franklin, MA 02038 is now new to the market!

Maria Varrichione — Tue, 15 May 2012 17:00:35 +0000

This is a Townhouse style home and features 6 total rooms, 2 full baths, 1 half bath, 2 bedrooms, and is currently available for $239,900.

For complete details click here.

Is Your Home Underwater?

Maria Varrichione — Sun, 13 May 2012 11:07:08 +0000

Do you owe more than your house is worth? You are not alone. Many homeowners are finding themselves in with a house that they owe more than its current market value. So what should you do?

Here are some options for homeowners with “underwater” mortgages:

Stay and Pay

Compare the monthly mortgage payment, plus carrying costs like repairs, homeowner dues and taxes, to the cost of renting. If you decide to stay and pay, you may be able to get financial help to catch up with payments if you run into a financial hardship. For example, the Emergency Homeowners Loan Program (EHLP) provides interest-free loans to homeowners who have fallen behind on their mortgages. Make sure to check with a HUD-approved housing counseling agency in your area to find out which programs may be available to you.

Refinance

The Home Affordable Refinance Program (HARP) helps homeowners who qualify refinance into a low, fixed-rate loan. The program has been extended through June 2012. For those who qualify, the terms are similar to those of any other conventional loan, but without the steep mortgage insurance that is typically required when there is less than 20% equity in the home.

Loan Modification

A loan modification means lenders lower the interest rate and payment, either temporarily or permanently. Lenders will also typically extend the term of the loan or to allow borrowers to make up missed payments by tacking them onto the end of the loan or spreading them out over the remainder.

The most well-known modification program is the government-initiated Home Affordable Modification Program. The Treasury Department reports that homeowners who were successful in getting permanent modifications on their loans through this program saw a median reduction in their monthly payment of 40 percent—more than $520 each month—amounting to a program‐wide savings for homeowners of an estimated $4.5 billion.

Short Sale

A short sale is when you sell your home for less than you owe. For the homeowner/seller, the goal is to get the lender to approve a short sale and forgive any remaining debt. Lenders do not always accept a short sale. It seems to make sense rather than allowing a home to go into foreclosure, but the red tape involved in a short sale can sometimes be overwhelming. The Home Affordable Foreclosure Alternative program (HAFA) is a government-initiated short sale program.

Foreclosure

According to RealtyTrac, one in every 605 homes received a foreclosure filing notice in May 2011. Foreclosure can have financial, legal and tax implications. For many homeowners, this is their last alternative.

Bankruptcy

If you need to stop a pending foreclosure, bankruptcy may halt a foreclosure long enough to get a loan modification considered. Filing Chapter 13 can help you catch up on payments over five years without interest. You may be able to reduce or eliminate other debts, freeing up more money to pay toward the home mortgage so you can get back to positive equity more quickly. This can be a very serious decision so it is imperative that you talk with a bankruptcy attorney before the foreclosure or short sale is completed.

Rental – Millbury, MA 01527 is now new to the market!

Maria Varrichione — Sat, 12 May 2012 12:00:27 +0000

Like new 3 level town home in great commuter location less tha5 minutes to Rt. 146, Blackstone Valley shopping nearby, and centrally located to major cities. Wonderful open eat-in kitchen with sliders to deck, entertainment sized family room, full basement for great storage option or hobby space. Generous size bedrooms this homes has been lovingly cared for and it shows. Owners flexible with move dates. Pets will be carefully considered. Requires 1st, last, & 1 month security. Easy to see.

This property features 5 total rooms, 1 full bath, 1 half bath, 3 bedrooms, and is currently available for $1,600.

For complete details click here.

Condo – Millbury, MA 01527 now has a new price!

Maria Varrichione — Fri, 11 May 2012 23:00:37 +0000

Special Seller Incentive; Own this townhome home for less than renting, under $1000/month for principal & interest and only $10,000 (5%)downpayment required. Seller will pay the PMI (Private mortgage insurance) saving you over $100/month and thousands over term of loan. Or FHA financing with only $6,300 down payment, with PMI & seller will gift up to 5,000 towards closing! Subject to credit/income qualifications. Be in this new home for the summer.

This is a Townhouse/Half-Duplex style home and features 5 total rooms, 1 full bath, 1 half bath, 3 bedrooms, and is currently available for $199,900.

For complete details click here.

Rental – Milford, MA 01757 now has a new price!

Maria Varrichione — Thu, 10 May 2012 20:03:59 +0000

Spacious one bedroom on second floor. Additional separate room can be used as office or den. Clean and bright eat-in kitchen. Hardwood floors in living room, office and bedroom. Available immediately, requires 12 month lease with first, last and one month security. Duplex style 4 family. Unit is first door facing Claflin St. on 2nd floor. Nice yard, storage and laundry hook up in basement Easy to show.

This property features 4 total rooms, 1 full bath, 1 bedroom, and is currently available for $750.

For complete details click here.

Financial Health Checkup

Maria Varrichione — Sun, 06 May 2012 11:05:55 +0000

In today’s economic climate protecting your financial health is more important than ever. From health insurance to your plans for retirement, there’s a lot to consider. Here are some tips from Family Wealth Management Group, LLC to help protect your assets and financial future.

It is never too early to plan.

In order to plan, you need to know what you have. Review your pension plan, 401 (k), IRAs, Social Security benefits and other savings plans to assess whether they meet your long-term retirement goals and will generate an income stream to meet your projected expenses.

Curb spending.

Time to take an inventory on how much you spend. Keep a log on trips to the market, afternoon lattes, dry cleaning and all of your miscellaneous spending. Try to eliminate a portion of these expenses. Once you track them you will realize you are spending more than you thought.

Re-define your financial goals.

Ask yourself where you see yourself in five, 10 or 15 years. See if it possible to redefine your goals. You may be able to retire earlier or pay for college. Set goals to achieve the things you want.

Get help.

Professional advice about investment losses, financial products, insurance coverage and other important issues will help you make the right choices for your current financial situation.

Multi-Family – Worcester, MA 01610 is now new to the market!

Maria Varrichione — Tue, 01 May 2012 12:00:53 +0000

Investors take note, this is a very clean money making property, in a fantastic location. Fully occupied with leases. Property is professionally managed, Many updates done, all separate water tanks, and heat. New heating system for first floor. Gas units and gas heat stoves in 2nd and 3rd units. 1st adn 2nd with hardwood floors, some newer carpeting, newer windows, W/D hookups in unit, Only first floor can be seen, 2nd and 3rd with offer, do not want to disrupt tenants occupancy.

This property features 18 total rooms, 3 full baths, 9 bedrooms, 0.11 Acres, and is currently available for $185,000.

For complete details click here.