Classic Properties REALTORS ®



Posted by Classic Properties REALTORS ® on 6/21/2020

Photo by Pixabay from Pexels

When you have an indoor pool, you don’t have to wait for the weather to cooperate in order to go swimming. Indoor pools offer a convenient way to swim for exercise or relaxation whenever you want. These pools can also add even more luxury to your home with the right features and design. Whether you’re thinking about installing a lap pool for working out or an elegant pool for unwinding, use these tips to help you decide on an ideal design.

Size and Shape

Your pool should be large enough to fit your needs, whether you’ll be the only one mainly using it or you have family or friends who will be using it as well. When it comes to shape, you can go with a traditional, rectangular design, which works well for a lap pool. If your pool is mostly for relaxation, you can choose from a wide range of shapes, including freeform shapes that are visually striking or an elegant oval or kidney-shaped option. 

Lighting

Owning an indoor pool means you can swim anytime during the year, but you’ll need good lighting sources if you plan to use it at night. Standard room lighting won’t provide the illumination you need for safe swimming. Installing underwater lights, wall sconces or lights along the edges of your pool area are all options for ensuring that you can swim safely when it’s dark out. Keep in mind that lighting also helps create a specific ambiance for your indoor pool. Consider colored lights for visual appeal or softer, white lighting for a more elegant look.

Retractable Roof and Skylights

If you're looking for an option that combines the inside with the outside, consider adding a retractable roof to the area. This type of roof can open and close as needed so that your indoor pool area can have more ventilation and natural light. Skylights are another option to consider when you want to feel like you’re outside while swimming. Skylights allow natural sunlight to seep into your indoor pool area and provide stunning starlight views at night. 

Water Features

The addition of water features can give indoor pools a more relaxing or exciting appearance, depending on your preferences. Add gushers or fountains as an elaborate visual display, or have a waterfall added to create a more natural and soothing swimming environment. Water jets with colored lighting can add a dramatic visual effect to your pool’s appearance.

If you’re exploring your options for a new luxury home, contact us today.




Tags: planning   swimming pool   luxury  
Categories: Home Living  


Posted by Classic Properties REALTORS ® on 6/14/2020

Image by Arek Socha from Pixabay

If you bought a house that was over $484,350 prior to 2020, you had to get a jumbo loan, which is a non-conforming loan. The Federal Housing Finance Agency (FHFA) increased the limit on conforming loans to $510,400 in most areas. The FHFA also increased the loan limit to $765,600 in some high-cost areas, which include Alaska, Guam, Hawaii and the U.S. Virgin Islands. FHFA increased the loan limit for conforming loans because home prices increased by an average of 5.38 percent from the third quarter of 2018 to the third quarter of 2019.

What is a Conforming Loan?

A conforming loan follows standardized rules set by the Federal National Mortgage Association (FNMA / Fannie Mae) and the Federal Home Loan Mortgage Corporation (FHLMC / Freddie Mac). The two companies are government-sponsored, and they drive the home loan market. The most common standardized rule is the loan limit. Still, the two organizations dictate how much a loan-to-value ratio can be, your debt-to-income ratio, higher interest rates based on your credit score and what documentation you might need for a home loan. A conforming loan must also have private mortgage insurance (PMI) if the down payment is less than 20 percent.

Jumbo and Other Non-Conforming Loans

Banks do not like to write non-conforming loans because they cannot sell those loans to Fannie Mae and Freddie Mac, or most of the other smaller organizations that buy loans. The most common non-conforming loan is a jumbo loan – a loan that is outside the loan limit, which is increasing for 2020. Other types of non-conforming loans might include loans for people who do not meet the debt-to-income ratio or the loan-to-value ratio. Because those loans are riskier, they often come with higher interest rates. Generally, you must also have a very good credit score to qualify for most non-conforming loans, especially jumbo loans.

High-Cost Areas

While some states and territories were mentioned as high-cost areas above, some places in the continental United States are also considered to be high-cost areas. Washington, D.C. and some parts of California have the higher limit of $765,600 for 2020 because the prices of single-family homes are higher than average.

Qualifying for a Jumbo Loan

To qualify for a jumbo loan, you’ll have to jump through more hoops. Some factors a lender look for include:

  • A credit score of at least 700. Some lenders require a score of at least 720.

  • Your debt-to-income ratio (DTI). While non-conforming loans may go outside the typical DTI, some lenders might refuse to go over 45 percent.

  • The lender might require you to have cash reserves of several months to a year in the bank.

  • The lender might require extensive documentation. You might have to supply your complete tax returns and several months of bank statements for a jumbo loan.

  • Lenders might require a second appraisal of the home.

  • A larger down payment.

  • You might get a higher interest rate, depending on the lender, your financial situation and market conditions.

  • Closing costs are often higher because of the extra steps you must go through to qualify for the loan.

As with any loan, shop around for a jumbo loan instead of jumping at the first loan offered.




Tags: mortgage   loans   Jumbo Loan  
Categories: Mortgage   luxury  


Posted by Classic Properties REALTORS ® on 6/12/2020

This Single-Family in Hopedale, MA recently sold for $315,000. This Colonial style home was sold by - Classic Properties REALTORS ®.


43 Daniels St, Hopedale, MA 01747

Single-Family

$309,900
Price
$315,000
Sale Price

6
Rooms
3
Beds
1/1
Full/Half Baths
Spring is the perfect time to buy this charmer of a home is located on a lovely side street yet close to Milford Regional Medical Center, shopping, highway access, etc.*The home boasts large rooms with wood floors, high ceilings, & large fits within all the charm of the town's majestic residential architecture*Roof and heating system/oil tank are believed to be within 10-15 years. Although the Town of Hopedale states the year built as 1930, it may be older based upon the strong "bones" and construction*The seller is ready for you to buy, love & live in this home as they did since 1968! You know already what a great town Hopedale is with its history, lovely library & New England small-town feel*For those seeking time outdoors, your new home is located less than two miles to Hopedale Parklands/Hopedale Pond*Bring your own personal style & some cosmetic update to this home so it will shine with all its glory! The lot is large, flat, and on the corner of Daniels and Highland*Easy to show!

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Categories: Sold Homes  


Posted by Classic Properties REALTORS ® on 6/7/2020

If you’re selling your home it can be frustrating when you aren’t receiving any offers. Perhaps you’ve heard that it’s a seller’s market and that the offers on your house would be flying in. However, it’s more complicated than that.

Whether or not your house receives offers is determined by a number of reasons--some that in your control, others that aren’t. But, that doesn’t mean you have to give up and sell your house at a low price.

In this article, we’ll discuss what to do if your house just isn’t selling. We’ll talk about some reasons why people may be hesitant to bid, to inquire about a showing, and to seal the deal and purchase your home.

Revisit the comparable properties

If your home has been on the market for a while, it’s a good idea to check out the other recent homes in your neighborhood to see how their prices compare to the listing price of your home. Since the market fluctuates, other sellers could be adjusting the cost to reflect the current rates, leaving yours higher than it should be.

When pricing your home, make sure you are comparing your house to those that have actually sold. Using houses that have been on the market for a while as a baseline might mean you’ve priced your home too high to sell just like theirs.

Also, make sure you are using houses that share many of the common features that yours does. This can include:

  • Square footage

  • The year the house was built

  • Number of bedrooms and baths

  • The lot size

  • The condition of the home

Remember, it isn’t all just about location.

Getting more leads

If people aren’t making inquiries about your home, there are a few things you should check up on. First, make sure your listings are updated and accurate. The contact info should be easy to find, and you or your real estate agent should provide multiple means of contact (email, cell phone, text, etc.).

Next, ensure that you’ve given enough details about the house. If people are searching for a specific number of rooms but your listing doesn’t mention the number of rooms you have, you might be missing out on several inquiries.

Finally, make sure your photos are high resolution and well-lit. You want to make sure visitors to your listing can get a clear idea of what your home looks like. If your photos are small, dark, blurry, or if they make the house look cramped and cluttered, you should retake your photos or consider hiring a photographer.

Getting more offers

If you’ve had plenty of inquiries and showings but you aren’t getting any offers there may be a deeper, underlying issue that needs to be addressed. Usually, this means your home needs important repairs and upgrades that buyers simply don’t want to make.

If your house is priced to be move-in ready but it’s not, you’ll have to make some upgrades or lower the price.

Not working with an agent

Sellers can also have a difficult time getting offers if they attempt to sell the home themselves without using a real estate agent. If your home is FSBO (For Sale by Owner), you’re missing out on a number of listing services and connections that an agent can provide.





Posted by Classic Properties REALTORS ® on 6/5/2020

This Single-Family in Franklin, MA recently sold for $408,000. This Colonial style home was sold by - Classic Properties REALTORS ®.


5 Collela Dr, Franklin, MA 02038

Single-Family

$419,900
Price
$408,000
Sale Price

7
Rooms
3
Beds
2
Baths
Welcome home! Move right into this beautiful and bright 3 bedroom, 2 full bathroom house. Situated in a quiet country neighborhood. This warm and inviting home flows seamlessly from one room to the next. Front to back living room has gleaming hardwood floors and a handsome fireplace. Formal dining room gives an elegant feel for gatherings. Cozy kitchen has access to the deck to enjoy your morning coffee. On the second floor you will find 3 spacious bedrooms with ample storage in all of the closets. Updated full bath with granite counter top completes the second floor. 1 car garage under and a newer storage shed for all your gardening needs. Plenty of space with 1 acre of land to make your own vegetable or flower garden. The partially finished basement allows for more square footage for extra activities. Close to major highways and the commuter rail. Please no showings until this weekends first open house. You will want to call this home sweet home!

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Categories: Sold Homes