Wow! I have to shout from the rooftops on this one: the townhouse at 46 Broadway is the best buy in Arlington MA right now! It was built new in 2004 by North Shore Construction and Development, and they did such a phenomenal job on this one I wish they had built 20 more just like it. This condo is among the “new breed” of properties that have sprung up around Arlington in the last 10 or so years that truly reflects the lifestyle and interests of todays savvy home buyers. These builders have variations on the theme, but this is the basic idea:

• New build (not a renovation) Two units “side by side”
• Townhouse style, not one on top of the other
• Built to current code: foundation, electric, plumbing, etc.
• 1900+ sq ft living space, plenty of storage, central a/c
• Charm and character of those fabulous homes built in the 1920’s
• Most were between $500 – $700K, but the average price over ten years has been $594K.

What makes 46 Broadway Arlington MA special?

The floorplan, the finishes, the quality of craftsmanship. The layout is not your typical “railroad” front to back style where one large rectangle front to back makes up the living room, dining room then kitchen. This clever townhouse has an “L” shaped first floor layout, feeling very open. Sliders to the back deck off the dining room give great light and an outdoor escape. The gorgeous granite and stainless kitchen is laid out perfectly and with every convenience.  The gas fireplace in the Living Room has subtle scrollwork, the mouldings are perfectly plumbed around the room, and reflect the era of gracious 1920’s homes. Proportion and flow are essential, and this first floor has it all. As well as a bathroom and excellent closet storage.

Perfect for Entertaining

The second floor holds two substantial size bedrooms – the Master has wonderful closet space, so you can expand your wardrobe with abandon, have a hat and shoe collection, there’s room for all of it and more! The master bath is of course tastefully appointed with stone tile and soothing colors. There is an additional bath on the 2nd floor for the other bedroom.

On to the 3rd floor – what awaits but an expansive loft, lit up by the gorgeous skylights. You’ll also find a great nook for an office space and yet again more storage. What a place to hang out, you can forget all your cares in this hideaway space. The basement in this townhouse is unfinished, but what a basement!  It got NO water in the recent rains! High ceilings, perfectly clean and dry, THIS would be my gym and playroom and TV room combined, I would finish it off and have a total of FOUR living levels.

What is amazing is the price: It is available to you today for a mere $485,000. With 1984 sq ft living area on three finished levels, it is $244./sq ft- which is the lowest in town, and for this quality of home is a-ma-zing!

Location – Location – Location! East Arlington is hot for the urban dweller, looking to get a shot at a quality home in this price range, plus everything Arlington has to offer. Located close to Arlington center, Davis Square, 93, Route 2, it is on two bus lines and close to Alewife.  Contact me today if you want to explore this townhouse for yourself.

OOHF! You’ve stumbled upon the home of your dreams! Your heart is beating fast, your brain is racing… because you’ve somehow FOUND it: the home you’ve been searching for! Suddenly you are protective of it, and want other buyers to stay away, or find something wrong with it, so you can present your offer solo, without the pressure and competition of those OTHER buyers!

Love at First Sight

Perhaps you first came across it online, watching the eleven o’clock news out of one eye, while doing your obsessive evening MLS check… and BAM!… there it was! With an Open House on Sunday, and you had to WAIT to get in and see it. Along with 30+ other groups of Arlington’s First Time Home Buyers.

Along Comes Sunday…

You arrive early. You scope out the commute, the neighborhood, the outside of the house, and finally when the door is unlocked you enter Paradise! It’s everything you imagined, and more. You’re pleasantly surprised, you actually hurry from room to room, fearing a disappointment around each corner, while hoping for perfection. And it IS PERFECT. It’s practically shouting your name from every corner. Your bed here, your couch there, your computer and music here, your mom’s picture there… your car in the garage, and your grill on the back deck. YES, this is the one!

Not so Fast, Pardner.

The rooms are filling with people, several with Buyers Agents, (which you’ve managed to avoid because you enjoy being independent, and didn’t want to waste anyone’s time)… and suddenly you realize you are unprepared. This sinking feeling is compounded by realizing that your six months old pre-approval letter is hopelessly outdated. You have no ally to give you advice, negotiate on your behalf, or help you navigate the sea of disappointment you now feel.

After a couple of these disheartening experiences you realize you actually need one of those Buyers Agents, even though you have access to MLS listings, and can see properties through Open Houses. The Arlington housing market is fairly competitive for good listings at the entry level. Those could range anywhere from $299K to $600K. There are currently 26 single family homes Under Agreement in Arlington in that price range, and half of those went UAG in under two weeks. Many people missed out on those properties, having placed Offers on one or more of them, and still didn’t get a house! This is an awful experince.

Musical Chairs

The arithmetic is pretty simple: when there are more Buyers than available homes, somebody is going to get left out. When inventory is behind demand, we start seeing this with new listings: “Offers, if any will be presented Sunday at 6pm”… These words are like a red flag that it’s a hot listing at a hot price… or the listing agent thinks so anyway. Often there is a flurry of activity over the weekend and somewhere from two to eight offers on a property.

How to Win in a Multiple Offer Situation

This is valuable information coming up…

1) Don’t go it alone. Since it costs you nothing, and gives you many advantages, you should hire a Buyer Agent. They can put you on a level playing field with the other Buyers, and also represent you directly with the Sellers.

2) Have your Pre-Approval letter updated every three months at the minimum. When you put in an Offer, you need an updated letter. Some lenders actually don’t work weekends, which is when you may need it suddenly updated, or for a different price. Be in touch with your lender regularly during these times, especially if anything changes with your employment. Contrary to popular belief, this does not affect your credit rating.

3) Get access to timely information from MLS. Some of the public sites are woefully outdated, showing things available that have been Under Agreement for a week, and new listings showing up 3 days late. Have your Buyers Agent help you get hot MLS listings, and daily updates.

4) Learn the Market, know your limit. Be prepared to stretch if you need to. If you understand your finances, and know what you can afford, you can bid accordingly. Your Buyers Agent should do a Comparative Market Analysis on a property you’ve identified as your target. Knowing what other similar properties have sold for recently is one indicator of what a home is worth. But knowing the local market, if you see it is competitively priced and has high appeal, understand this is not the time to low-ball an offer. You may find yourself going over asking price, which seems crazy if you listen to the national news media, but Arlington is different! Some agents intentionally price a property aggressively to stimulate multiple offers, and get the best price for their Seller.

5) Highest and Best doesn’t always mean Highest. When multiple offers are presented to a seller, sometimes they have a difficult decision. Imagine if you were a Seller in this position, and you received three offers, all approximately asking price. You may still be looking for your next home, and need time to find it, therefore you want a closing date as late as possible. It may be what you’re looking for is price, solid financing, and a late closing. So when the Sellers go back for “highest and best” in a second round of negotiation, this is the time to have your Buyers Agent ask the Seller, “what TERMS are they looking for?” I have seen offers won on closing dates alone, because the offering price was fantatic from several buyers, but one in particular matched the Seller’s other needs.

If YOU want to have the VIP Buyer’s advantage, contact me today for a complimentary consultation, where we can discuss your goals, and get you through the competitive maze and on to home ownership!

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.