OPPORTUNITY strikes every so often, the key is to be READY when it presents itself. This week I am bringing on a fabulous listing, in popular West Medford. If you’re looking for a fabulous home at a fabulous price, this is it!

Front and brick drive

Presenting 324 Winthrop Street, Medford MA $539,000.

SPACIOUS GRAND CAPE with over 3000′ of solidly built living area

With 9 rooms total, 4+ bedrooms, 3 full baths, and TWO enormous Master Suites upstairs, this is a home with many possibilities, and room to grow. Built in 1938, it oozes charm, with its french doors with sparkling glass doorknobs, large sunny foyer, hardwood floors and  gumwood trim, built-in cabinets in the dining room, and flanking the fireplace. Those are beautiful glass-front book cases with tiny glass knobs. Makes my heart beat faster!

TWO Master Suites??

Yes TWO! One is more traditional, with hardwood floors, lighted closets, and updated sparkling bath. The second suite has soaring cathedral wood plank ceilings, has a full bath and office area, and an additional spacious bedroom with closet.  WHEW!

Updates and Maintenance

The exterior of the house has been freshly painted. In 2000 the roof was replaced completely, along with the front steps, and brick drive and patio. Other updates include new systems and oil tank.  Professional landscaping and thriving perennials reflect the level of care this home has received over the years.

Lifestyle and Room to Grow

The fabulous heated sun porch is an awesome place to have morning breakfast, looking out on your private 10,000′ level lot. The full unfinished basement and the oversized kitchen are areas of opportunity. This gracious home may get away from you, but it does show DREAMS do come true sometimes, and for a great price, if you’re ready to JUMP when you see it. Contact me by email or phone (781) 354-4835 today to see this listing, or to discuss YOUR dream home, and your real estate goals.

This home may be seen by appointment, or at an Open House Sunday April 26 from 12-2:00pm.

Your Arlington, MA home may be the single biggest investment you ever make.

It makes sense to protect it in every possible way. When you Close on your new home, the lender will require homeowner’s insurance to protect against fire, theft, and wind damage. You may be required to get flood insurance if in a flood zone. Title insurance is not actually required, but it is as important as the other types of insurance you will purchase. It protects you against title hazards, and can ultimately protect your family’s investment.

When you buy a home, you are purchasing the title to the property – the right to occupy and enjoy the property. That title may be limited by rights and claims asserted by others, which may limit your use and enjoyment of the property and even bring financial loss. Title insurance protects against these types of title hazards. Unlike other types of insurance, it is purchased with a one-time premium, before Closing on the property.

Save 10% on Title Insurance by Attending Seminar April 23

Learn more about title insurance, and many other topics at the upcoming First Time Home Buyer Seminar this Thursday, April 23, at Bowes GMAC Real Estate Office. Participants will receive a certificate for 10% off Title Insurance with First American Title Insurance Company. A representative will be present to answer your questions. This evening is presented free of charge, and runs from 7:00pm – 8:30pm. RSVP by phone (781) 354-4835 or email bija@dreamhomearlington.com.

The March Market Report for Arlington is a mixed bag! We actually had about half as many closings as the same time last year. In March 2008 there were 25 Closings (13 single family, 9 condos, 3 multi families) and this year there were just 11 Closings (4 Single family, 6 condos, and one multi family). The spring market has been steadily building, and with time hopefully will become the robust season we are accustomed to in Arlington.

Behind the Scenes

One of the most interesting parts of the market is the slightly mysterious Under Agreement category. Until the property Closes, there is no telling what the property actually sold for. You only can see the asking price, the market history, price reductions, and days on market. So a property listed at $650,000 could be under agreement for $450,000, and you wouldn’t know it until it closes and posts as a SOLD. I love looking at the Under Agreement category in Arlington because it shows the level of activity, and those are Closings piling up for the future. Then when they closes you get to see how much they actually sold for. Sometimes it’s a surprise!

Ready for the GOOD News?

Currently there are 70 Under Agreement properties in Arlington. In addition, there are 21 ‘flagged’ properties. If you remember, those are properties that have an accepted offer, but are still allowing showings and open to backup offers. A typical closing takes 45-60 days, so we can keep our fingers crossed that of those 70 Under Agreement homes, at least 2/3 will close in April (and yes I know I mentioned it in a previous blog, but this is important stuff!). That would be 46 closings, which is EXACTLY the number of closings in April of last year. EQUAL to last year! That is the good news!

Now I don’t have a crystal ball, but given the number of qualified buyers attending Open Houses, and the low interest rates, I see a bright future for the rest of the spring market. One of the limiting factors is actually the level of inventory. It seems that homes that are attractively priced sell quickly, making the inventory more limited. It is a supply and demand situation. Stay tuned to the ‘crystal ball’ Arlington MA Real Estate Blog for the latest updates. Easter is over, the weekend was good for everyone to rest, and now the buyers and sellers can launch back into action. The next week should be interesting, with all the pent up energy!

If YOU are ready to jump into the market, get some quick education, by attending my First Time Home Buyer’s Seminar April 23 from 7:00-8:30pm. Held at the Bowes GMAC Office, the seminar is free, and open to the public.  Discover how to take advantage of low interest rates, tax incentives, and the help of your own Buyers Agent. Register by sending me an email today.

Arlington says good bye to a dear friend

Mickey Coyne passed away Sunday morning, April 4th, leaving friends and family stunned and saddened. He was the beloved husband of Maureen (Fitzmaurice) Coyne. Known for his quick wit, love of football (the soccer kind), and Irish humor, he was a wonderful part of life in Arlington. Everyone has their own memories and stories of “honest Mickey”; our lives are richer for having known him.

He has been in real estate in Arlington for 30 years, the last 20 at Bowes GMAC, and part of the Bigelow-Coyne team since 2005.

Mickey was born in County Roscommon, Ireland. He became a U.S. citizen and settled in  Arlington in 1968. In addition to his wife, he is survived by his three children Michael W. Coyne of Arlington, Fiona Mary McKenna and husband Mark A. McKenna of Billerica, and Thomas C. Coyne and fiancé Sara M. Cote of Woburn. He was brother of Christopher Coyne and his wife Josephine and Philomena “Baby” McGovern and her husband Michael, all of Ireland. He was brother-in-law of Thomas Fitzmaurice and Teresa Canning and her husband Noel, all of Ireland.  And, he was also survived by many loving nieces and nephews. He was brother in law of the late Seamus Fitzmaurice and Bridie Harkins.

Some professional affiliations include:

• National GMAC Premier Service Diamond Award, 2007
• Premier Service Certified for GMAC
• Former Trustee, North East Divisional Board, Gaelic Athletic Association
• Former Treasurer of the North American County Board of the Gaelic Athletic Association
• Soccer Coach, Arlington Town Traveling teams 1980s.
• Personal Arlington Resident since 1968
• Knights of Columbus, member of Arlington Council 109

The Wake will be held at Keefe Funeral Home in Arlington on Monday April 13, from 4-8pm. For those who wish, donations in his memory may be made to the Fidelity House, 25 Medford St., Arlington, MA 02474. To send online condolences, visit www.keefefuneralhome.com

Services will be Tuesday April 14 at St. Agnes Parish, at 10:00am.

BOOM!

Things are popping in Arlington!

Arlington MA Under Agreement Statistics

Right now there are over 66 pending sales (UAG, Under Agreement) in Arlington, Massachusetts. That’s a good thing, because we have some catching up to do, if we want to be at all competitive with 2008 for sales in town. So far in 2009 there have been 53 closings total in all categories (single family, condo, multi-families, commercial) compared to 88 in the same time frame last year.

The average time a property is UAG is six weeks, so if even 2/3 of those 66 Under Agreement properties Close in April, that’s 44 closings we can expect in the coming month, compared to 46 closings in April last year, so we will be having a similar year in terms of numbers of sales, but we won’t know until everything closes how the numbers stack up.

What does it all mean for Arlington’s economic recovery?

With typical Sunday Open House listings having 20 – 60 people show up, rain or shine, and multiple offers being presented every Sunday evening, the market seems to be turning around!  You say 66 Under Agreements? That’s fantastic news, and it doesn’t even include all the properties that are ACTIVE flagged (meaning they have an accepted Offer, but are still showing for backup offers). Usually those flags are taken away after the P&S is signed, or the mortgage commitment is received. If you include those too, it adds an additional 13 Under Agreement listings, bringing it to 79, which if 2/3 of those close in April, that will be 52 Closings, or six more closings than we had last year.  In terms of activity… that’s fabulous!

If you are contemplating a real estate purchase in Arlington this year, get expert advice on how you can best achieve your goals within your time frame. It is the full flush of the spring market, and like rivers do in spring, they run fast. Get yourself aligned with a Buyer’s Agent who can represent your interests and help you find and buy the home of your dreams. If you would like the most up-to-date report on SOLD listings in this area, send me an email. Now is a great time to buy real estate, especially in Arlington!