Schedule a Showing/Request Info Salem, NH Real Estate Pelham, NH Real Estate Windham, NH Real Estate Atkinson, NH Real Estate Hampstead, NH Real Estate Plaistow, NH Real Estate Prudential Verani Realty Salem Prudential Verani Realty Salem 888-723-0306 webrequest@verani.com Information valid for the date of this posting only. Please contact us for the most current information and status of this property.

18 14th Street Newbury, MA Scan with your smartphone & take me with you. Description Features Photos Maps & Local Schools Perched among the Plum Island landscape $ Click for current price 4 BEDROOMS 2 BATHROOMS (2 full) 1712 Square Feet Perched among the Plum Island landscape is this wonderful hidden gem just waiting for you to find it! Warm Hardwood Floors, Bright Sunny Rooms, an Enclosed Porch which leads itself to a large welcoming Deck. These are just some of the features that make this island get away a relaxing retreat not to be missed! It`s just a short stroll down the street to the beach. Imagine the lifestyle! L2L

Single Family Home Sales The Newbury, MA real estate market report indicates that there were 57 homes sold in 2010 as compared to 51 in 2009. This represents a 12% increase in the number of homes sold. The average sales price changed from $422219 in 2009 to $485518 in 2010, a 15% increase in value. The days on market changed -37 % from 195 to 123. Condominium Sales The Newbury, MA condominium market data indicates that there were 7 condos sold in 2010 as compared to 4 in 2009. This represents a 75% increase in the number of condos sold. The average sales price changed from $574417 in 2009 to $573354 in 2010, a 0% change in value. The days on market changed 66 % from 890 to 1473. Data for the Newbury, MA real estate report was compiled by Virtual Homes Real Estate using information from the MA statewide MLS and is not guaranteed to be accurate.

Days on market chart

Number of Newbury MA homes sold chart

Price of Newbury MA homes sold chart

Newbury and Newburyport MA Top Rated Buyer Agent Realtor John P. Wells starts you on the process of buying a home. There are great homes for sale in Newbury MA, and Newburyport MA Real Esate is increasing in value. Newbury MA Real Estate ranges in price from the $300,000 range to over 1 million. Check out another video at http://johnpwells.wordpress.com/2011/05/19/negotiating-to-buy-your-home-in-ma/

4 years ago the folks at Iron Moon Farm in Newbury had the opportunity to supplement the income from their struggling farm by leasing a nearly invisible location to a cell tower operator. The zoning did not apply and so they had to seek a variance from the Town to allow it.

The public was outraged by the intrusion of a cell phone tower in this location. Not that people in Newbury don't use cell phones, of course. I argued at the Zoning Board of Appeals hearing that if folks wanted to keep a working farm alive, they had to help the farm create an additional source of revenue, and this was a no-brainer. People are very shortsighted at times, however, and turned them down. This week I put the farm on the market, most likely to be sold to a developer.

Because of the huge horse barn with an indoor equestrian arena on the property, we may get lucky and end up with a limited development and wonderful equestrian property; there is abutting conservation land and trails, well over 100 acres. But it is such a shame that the NIMBY attitude prevailed, at the expense of the entire community, as well as the expense of the family of the farmer.

We now have a beautiful 16 acre farm for sale for $1,380,000. If you are interested or have any ideas, contact me at john.wells@virtualhomes.com.

Newbury MA Short Sales - Buying at Pre-Foreclosure

Newburyport MA Harbor.

How to Buy a Newbury, Massachusetts Short Sale

As a home buyer looking for value in the purchase of real estate you may consider a "short sale" as a viable option. The process of finding and buying a Newbury MA short sale is not a typical real estate transaction. To have success, you must work with qualified professionals and understand the process. Utilize the services of Realtors, attorneys, accountants, mortgage lenders and home inspectors as they all provide expert advice.

What is a Short Sale?

Homeowners that have financial hardships may pursue a short sale prior to foreclosure. This process may be a preferable option to preserve their credit and limit their debt exposure. In New Hampshire, the laws governing foreclosures provide incentives for lenders to work with homeowners that can no longer afford their homes. The foreclosure process takes time and money and may prove to be more costly to the lender. Under the Home Affordable Alternatives Program (HAFA) offered in 2010 by the Treasury Department, lenders and homeowners have additional incentives to consider a short sale.

The first step to a successful transaction requires the negotiation of an acceptable contract with the Seller subject to lender approval with no guarantees that your offer will be approved. In order to prevent foreclosure, the Seller is under a timeline to "sell short" and must have an offer that meets lender guidelines for lender approval. Go to Newbury MA Short Sales, Foreclosures, Bank Owned to obtain information about Newbury property. Follow these guidelines to improve your chances of a buying and closing on a short sale listing:

Are You a Qualified Buyer?

As a home buyer you must provide evidence that you qualify to purchase the property. The Seller is not likely to accept your offer without a valid credit approval as the lender will not grant approval. Obtain a credit approval from a reputable lender or if a cash buyer provide proof of funds. The approval must not contain conditions such as selling an existing property.

Pre-Qualify the Listing

Sellers selling short typically have a time-line they must meet to avoid foreclosure. If they have not communicated with their lender(s) and started the process, there may not be sufficient time to affect a sale. As your Realtor, I can pre-qualify a listing on your behalf. Information I will obtain includes:

• Is the seller's short sale package prepared for submission to the lender?
• How many liens are on the property? If more than one, what are they? Is there a plan to satisfy all the lien-holders?

If you pursue a property that is not "short sale ready" you may be restricted from buying other properties of interest. To search short sales and foreclosures available go to Newbury MA Homes for Sale and select Newbury Foreclosures under the quick search options.

Negotiating the Offer

The first step is to have your offer accepted by the Seller and you will be competing against other buyers. Some real estate agents market the property substantially below market value to entice buyers. Others price the property at the low end of fair market value. Price, terms and your qualifications will be the deciding factors for Seller acceptance. Sellers and lenders prefer offers with fewer contingencies.

1. Earnest Money - Sellers may be hesitant to accept your offer with a low deposit. Buyers can easily "walk away" from a contract with low deposits.
2. Home Inspection - be prepared to invest the time and money in the home inspection prior to lender approval. A seller may not want to take the risk of allowing the inspection after lender approval. If they do, they risk losing the buyer on the inspection issues and will not have time to sell the property prior to foreclosure.
3. Flexible Closing Date - once the lender approves the offer, they may require a "quick" closing. You must be prepared to meet their conditions if you want to consummate the sale.

Subsequent offers - the listing agent must submit all offers to the Seller. A contract with a higher sales price may have a better chance at being approved by the lender. The lender will give the Seller direction as to submitting additional offers. Also, be prepared to lock your interest rate thru closing so that your mortgage commitment will be valid.

Lender Approval

Lenders will do their "due diligence" to substantiate the value of the property and have no set formula to determine an acceptable price for the property. However, Freddie Mac (one of the largest secondary market lenders) has a target sales price of 88% of one or more broker price opinions (BOP).

Have realistic expectations of the time-frame for approval as it may take between 30-180 days and property values can change. If the lender and the Seller are participating in the HAFA program, these timelines will be streamlined for a quicker response.

If you are interested in pursuing an Newbury MA short sale or other listings currently on the market, please contact John Wells at Virtual Homes Real Estate at 978-462-9733. You may also visit MA Foreclosures and Bank Owned Real Estate for Sale to view short sales and foreclosed inventory for sale in other towns and cities. You may also set up your own Property Finder account in the MLS by visiting My Free Search Account. You'll be able to look up all cities and towns in NH and MA, save your searches and even see what properties have sold for!