Harborside Blog

Modular Home, Not Mobile Home

Ten years ago my wife and I were looking to buy a home in Marblehead. We couldn’t find anything that we liked. At the time, my wife’s sister and her husband were building a new home in Andover. They were building a modular home. I knew very little about modular construction. To tell you the truth, I didn’t have a favorable opinion of assembly line constructed homes. My father and grandfather built traditional “stick-built” homes down on Long Island. I thought stick-built was the only way to go.

After coming up short in our search for a new home, I asked my Realtor, Heidi Magee, to investigate the vacant lots in Marblehead available for sale. Back in 1998-1999, I recall that Heidi found 10-15 lots ranging in price from $100,000 to $900,000.   Read the rest of this entry »

Short-Sale Comic from Inman News – Waiting for a Short-Sale…

Short Sales usually do take a long time and sometimes don’t close but if you are a buyer looking for a potential deal, short-sales are probably the best way to go – even better than a foreclosed home. If you are a buyer or seller, your best chance for success in closing on a short-sale is hiring a diligent and focused real estate broker with significant short-sale experience. My partner, Dick McKinley, has seen numerous short-sale transactions through to closing both as a listing agent and buyer’s agent. Contact Dick McKinley (617.763.0415/dick@harborsiderealty.com) if you would like to discuss buying or selling a home that is currently worth less than the mortgage debt on it.

New Listing on Marblehead Neck – 26 Flint Street

My partner, Dick McKinley, just listed a new home for sale at 26 Flint Street in Marblehead.  It is a four bedroom, 3.5 bath colonial built in 2000.  The list price is $1,195,000.  For details, click here.

Retail Space Available in Marblehead on Atlantic Avenue

1,143 square feet of high visibility, centrally located retail space in the heart of downtown Marblehead.  Open floor plan, good on-street parking, adjacent to Aveda Salon, fitness studio and Marblehead Ace Hardware.  $1,500 per month; 1 year lease; Tenant pays utilities (water, sewer, electric, and gas); Landlord pays real estate taxes.  Please contact Mike Cannuscio, Harborside Realty, for showings; 781.838.0068/mike@harborsiderealty.com.

New Marblehead Listing – 10 Canterbury Road – Three Bedroom Colonial $389,000

Brian Skidmore from my office just listed 10 Canterbury Road in Marblehead, a three bedroom, 1.5 bath Colonial near the new YMCA and Vinnin Square.  The home has a nice floor plan and flat yard.  Good opportunity for buyer/s that would like to update to suit their personal tastes.  Take advantage of the tax credit if you qualify.  Click here to view more details on the property.  Any questions:  Call or E-Mail Mike Cannuscio, Harborside Realty, 781.838.0068/mike@harborsiderealty.com.

Marblehead Real Estate – New Listing – 17 Highland Terrace

Matt Dolan and Dick McKinley from my office just listed a great home on Highland Terrace.  Located in the neighborhood behind Village Plaza, 17 Highland Terrace is a classic Cape offering three bedrooms, one full and one half bath, an updated kitchen, living room, dining room, den, deck and nice backyard.  $424,900  For more details, please click here or call/e-mail me (Mike Cannuscio, Broker/Owner of Harborside Realty, 781.838.0068/mike@harborsiderealty.com)

Moving to the Area? Consider Joining www.NewcomersandNatives.com

If you are planning a move to Marblehead, Swampscott, or Salem, I suggest that you consider joining Newcomers and Natives (NAN).   NAN is a group that organizes numerous social and civic events for its members (book club, dinner club, fundraisers, children’s playgroups, wine club, Easter Egg Hunt, etc…)  For $25 (individual)/$35 (couple/family) per year, it is a great deal.  The group is a lot of fun and offers members many opportunities throughout the year to get out and meet new friends.  Visit www.NewcomersandNatives.com for details.

Hiring a Contractor? Make Sure They Can Comply with New Lead Law Rules

Effective April 22, many contractors (those involved in renovation, repair and painting activities in homes built before 1978 that disturb lead paint during their projects) will need to be certified by the Environmental Protection Agency and follow certain work practices to protect against lead paint contamination.  Only a small percentage of contractors have been certified so far.

The federal and state lead paint laws have been in force since 1992 and the federal law called for the EPA to ensure that renovators follow lead-safe work practices.  It has taken 18+ years for the EPA to take action.  A great example of the efficiency of government.

When you are considering your next renovation project, raise the topic of lead paint with your contractor.  The following article was on Boston.com today:   Article on Boston.com – Cloud of Controversy Over New Lead Law Rules

Question: What is the Value of the Ability to Assign/Assume an FHA Loan?

Jack Guttentag, a UPenn/Wharton professor, wrote an interesting article in today’s Inman News online edition.  (See link to article below and Guttentag’s website www.mtgprofessor.com).  The article discusses the potential value of the ability of an owner to assign an FHA mortgage to a buyer in the future – provided interest rates rise from current levels.  Most conventional loans don’t permit assumption of a mortgage by another borrower.  Until I read the article, I didn’t realize that FHA loans offered such a benefit.  If rates rise to 7 or 8% five years from now, a seller with an assumable 5% FHA loan could offer a huge incentive to qualified buyers by throwing financing into the mix.  Take a look at Guttentag’s article.  It is a good read.    Inman News Article – FHA Loans Are Assumable

New to the Market – Marblehead Harborfront Two Bedroom Condo – 147 Front Street, Unit 9, Marblehead

Craig Sager and Vern Urlich from my office, Harborside Realty, just listed for sale a two bedroom condo in Marblehead.  The condo is in the Adams House and has amazing views of Marblehead Harbor, Ft. Sewall and the ocean. For more details and pictures visit Harborside Realty’s website.  To schedule a private showing, please contact our office at 781.631.3302 and ask for Vern or Craig.