Karen Russo - Worcester MA Real Estate, Holden MA Real Estate, Rutland MA Real Estate


This Single-Family in Worcester, MA recently sold for $350,000. This Raised Ranch style home was sold by Karen Russo - Coldwell Banker Residential Brokerage.


20 Scandinavia Ave, Worcester, MA 01603

Webster Square

Single-Family

$350,000
Price
$350,000
Sale Price

7
Rooms
3
Beds
2
Baths
Welcome to this beautiful split level home! The updates are spectacular. Quality built 3 bedroom 2 full bath home. Beautiful hardwood, large kitchen white maple cabinets with beautiful granite, stainless steel appliances, recessed lights . 2x6 construction . Open floor plan. Cathedral ceilings throughout kitchen, dining, and living room. Central Air. 2 car garage, quiet area of newer homes. Walkout to the the brand new Trex Composite deck out back to enjoy some quiet space. Nothing to do but move in!

Similar Properties



A hot housing market features residences that buyers want to purchase as quickly as possible. As a home seller, you should do everything possible to stir up interest in your residence, even in a hot housing market. Because if dozens of buyers compete for your house, you may be able generate significant profits from your home sale.

Ultimately, there are several fast, effective ways to ensure you can maximize your home sale earnings in a hot housing market, and these include:

1. Conduct a Home Inspection

A home inspection allows you to identify your house's strengths and weaknesses. Then, you can take the necessary steps to transform various home weaknesses into strengths.

It won't take long to conduct a home inspection, either. Typically, a home inspector can visit your residence, perform the evaluation and provide an inspection report in a single day. This means you can quickly gain the home insights that you need to help you upgrade your residence prior to adding it to a hot housing market.

2. See How Your House Stacks Up Against the Competition

Take a look at the prices of available houses in your city or town that are similar to your own. This housing market data can help you establish a competitive initial asking price for your residence.

Furthermore, analyze the prices of recently sold residences in your area. With this housing market information, you can see just how quickly houses are selling and map out your home selling journey accordingly.

3. Consult with a Real Estate Agent

If you're unsure about how to proceed in a hot housing market, there is no need to stress. In fact, if you collaborate with a real estate agent, you can get the help you need to optimize your home sale earnings, regardless of the current housing market's conditions.

A real estate agent is a housing market expert who understands how to navigate the home selling journey. First, he or she will meet with you to discuss your home selling goals. A real estate agent then will develop a personalized home selling strategy. Finally, this housing market professional will list your home, set up home showings and open houses and help you get the best price for your residence.

Of course, a real estate agent is happy to assist you once you receive offers on your house too. If you get a home offer and don't know whether to accept, reject or counter it, a real estate agent can help you explore the pros and cons of all of the options at your disposal. Plus, a real estate agent can offer a recommendation about how to proceed with an offer, along with plenty of insights to help you make an informed decision.

When it comes to selling a house in a hot market, there's a lot that sellers can do to achieve the best-possible results. Use the aforementioned tips, and you can boost the likelihood of maximizing your home sale profits after you add your residence to a hot housing market.


Photo by Mohamed Hassan via Pixabay

Buying property is a long-term investment. If you’re looking to make quick income from property, the only way is to buy low and sell high with minimal input for remodeling, upgrades, or even paint. However, if you intend to keep your property as a rental here are a few of the basics to make it profitable sooner.

Show Me the Numbers

Say you buy a house for $300,000. To get a loan for an investment property you’ll need a minimum of 20% down; so in our scenario, that’s $60,000. Closing costs depend on so many things that even an estimate is difficult, but rule of thumb is three to four percent of the purchase prices. Go with an even $10,000 to keep the numbers easy. You’re out-of-pocket $70,000 by this point.

The mortgage is for the remaining $240,000, so a 30-year fixed rate at 4.5 percent makes your principal and interest payments about $1,200 per month. Add to that property taxes of about $6,000 per year, or $500 per month, and homeowner’s insurance for about $150 gives you a monthly payment of $1,850. If you have an HOA, that might be an additional $50 per month. That’s $1900 for the basics, every month.

These numbers do not factor in upgrades, changes, paint, flooring, appliances or anything else, so remember that those items eat away at your profit too.Say that you rent it for $2,500 per month. That gives you a $600 difference. From that amount comes management fees if you pay someone to manage it for you. It also pays for lawn care unless you turn that over to the renter. Plus, for every month it goes unrented between renters, you carry the entire amount. 

Positive Cash Flow

You decide to manage it yourself and have the tenant take care of the lawn. Presuming no major systems require repair during the first year and you rent it within a month, you receive $27,500 ($2,500 x 11) in rent. You pay out $22,800 ($1,900 x 12) leaving you with $4,700 positive cash flow.

Assuming you never have to spend anything on repairs, maintenance, increases in taxes or refurbishing between tenants, it will take you 12 years and nine months to make back your down payment. Of course, if you raise the rent every year or so, you’ll shorten the time to repay the down payment, but you may lose more tenants.

Is It Worth It?

Yes! After year 12, your profits increase. But only if you follow these guidelines:

  • Do buy in a nice, livable area where people want to rent.
  • Don’t overspend for the property.
  • Avoid frivolous upgrades with low R.O.I.
  • Vet your tenants.
  • Remove tenants that damage property or don’t pay rent.Use a property management and marketing service to reduce unrented months.
  • Know the property owner and tenant laws in your municipality. 

Some properties are more profitable than others or are profitable sooner. Your investment real estate professional knows the difference and can help you choose the right property for your investment situation. If you want to invest in real estate, let your professional agent guide you.



15 Hamilton Street, Millbury, MA 01527

Rental

$975
Price

4
Rooms
1
Beds
1
Baths
Absolutely Adorable first floor one bedroom with hardwood floors throughout, updated kitchen, dining room, living room and full bath. Nice outside porch areas, Washer/dryer hookup available, parking for 2-3 cars off-street. Nice quiet neighborhood setting. No Pets, No Smoking.
Open House
No scheduled Open Houses




This Single-Family in Northfield, MA recently sold for $247,200. This Antique style home was sold by Karen Russo - Coldwell Banker Residential Brokerage.


155 Main St, Northfield, MA 01360

Single-Family

$244,000
Price
$247,200
Sale Price

8
Rooms
4
Beds
2
Baths
This 4 bedroom, 2 full bath Northfield home offers large living spaces with classic mouldings, beautiful wood floors, and gorgeous built-ins. The grand living room with its large fireplace is perfect for either cozy quiet evenings or large gatherings. The kitchen opens out to a roomy screened-in porch that is private and relaxing—perfect for entertaining friends and family all summer long. The serene outdoor setting with large backyard accented by mature plantings shade trees offers so much privacy and so many possibilities. Get your garden started in your own greenhouse. The 1 car garage is connected to a large barn perfect for storage or your hobbies. Minutes from the center of town and 91 makes this location excellent for commuting. Don't miss this one!






Loading