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Mark Madden | The Madden Team

Go Inside: 125 Trapelo - Belmont, Massachusetts

Overview

The 125 Trapelo Condominiums is a 41 unit complex located in Cushing Square in Belmont, MA. The building, which was built in 1963, is located on Trapelo Road. Of the 41 units, only 2 bedroom units will come with 1 deeded parking space.

125 Trapelo Condominiums Exterior

Units & Pricing

Currently there are 5 units available through CENTURY 21 Commonwealth at 125 Trapelo Road in Belmont, MA. The condos start at $179,900 for a renovated 1st floor 1 bedroom condo and go up from there. The condos are either being sold as-is or with a roughly $25,000 upgrade package to look similar to the model unit (pictured below).

For more information on pricing, please email either Mark or John.

125 Trapelo Road Belmont, MA Living Room

The monthly condominum fee will vary based on the size of the condo ranging from $290 to $397. That condo fee includes: Heat, Hot Water, Water, Sewer, Master Insurance, Laundry Facilities, Elevator, Exterior Maintenance, Landscaping and Snow Removal

125 Trapelo Road Belmont, MA Bedroom

Area

The 125 Trapelo Condominiums are across the street from the 73 bus stop into Harvard Square or a longer walk to the Waverley Square Commuter Rail. In Cushing Square there are numerous eating options: Savino's, Kitchen on Common, Vicki Lee's, Brother's Pizza and more. There is a Starbucks and a Spirited Gourmet wine, beer and liquor store as well.

125 Trapelo Road Belmont, MA Living Room

$8,000 Tax Credit for Down Payment - Participating Lenders

Participating Lenders for $8,000 Tax Credit Being Used In Downpayment

Below is the list of lenders, as provided by MassHousing, that are participating in allowing buyers to use the $8,000 tax credit up front as down payment and closing costs assistance.

Bank of Canton - www.bankofcanton.com

BankFive - www.bankfive.com

Bristol County Savings Bank - www.bristolcountysavings.com

Cape Cod Five - capecodfive.mortgagewebcenter.com

Eastern Bank - www.easternbank.com

Fidelity Cooperative Bank - www.fidelitybankonline.com

First Easter Mortgage Corp - firsteastern.mortgagewebcenter.com

Greater Springfield Credit Union - www.grscu.org

Greenfield Co-Operative Bank - www.greenfieldcoopbank.com

Hampden Bank - www.hampdenbank.com

Legacy Banks - www.legacy-banks.com

Metro Credit Union - www.metrocu.com

Mortgage Financial, Inc - www.mfsinc.com

NE Moves Mortgage Corp - www.newenglandmoves.com

Polish National Credit Union - www.pncu.com

Rockland Trust Company - www.rocklandtrust.com

Salem Five Mortgage Company - www.salemfive.com

Saugus Bank - www.saugusbank.com

St. Anne's Credit Union - www.stannes.com

Winter Hill Bank, FSB - www.winterhillbank.com

Like any other program, there are restrictions involved with receiving this type of a loan package because it will be financed through MassHousing. There are income restritions and eligibilty restrictions for the program. Please click this link to see these guidelines on the MassHousing website.

The Truth in Lending Act (TILA) Changes

New Changes to the TRUTH IN LENDING ACT

The Federal Reserve has proposed some changes to the Truth in Lending Act (TILA) that will help better protect the consumer and provide less surprises for the consumer during the closing process.

  • Improve the disclosure of the annual percentage rate (APR) so it captures most fees and settlement costs
  • Require lenders to show how the consumer's APR compares to the average rate offered to borrowers with excellent credit

  • Require lenders to provide final Truth in Lending Act disclosures at least three business days before loan closing

  • Require lenders to show consumers how much their monthly payments might increase, for adjustable-rate mortgages.

Put Money Into House

These changes will help the consumer to better understand every detail of their financing, while protecting them from the "at the closing table" increase in rates. The second bullet point is great, "Require lenders to show how the consumer's APR compares to the average rate offered to borrowers with excellent credit" because many consumers do not know how much poor credit affects their chances of securing low interest rates in their home purchase. There are many step one can do to increase their credit rating (and no, it does not take too long either).

In conclusion, these changes to the Truth in Lending Act should help consumers to set aside their fears of entering the mortgage world, because disclosures and transparency are becoming the name of the game.

Go See Some Fireworks! Where and When Around Eastern MA!

FIREWORK DISPLAYS

July 3rd

Danvers: 9:00 PM at Plains Park

Gloucester: 9:30 PM at The Harbor

Hingham: around 9 PM

Lexington: After Sundown at Center Playground,

Manchester-by-the-Sea: 8:30 PM at Singing Beach

Milford: 9 PM at Plains Park

Needham: Dark at Memorial Field

Orleans: Dusk at Rock Harbor

Sharon: 9:15 PM at Memorial Park Beach

Walpole: 9:00 PM at the field behind town hall

Weymouth: 9:30 PM on the waterfront

July 4th

Acton: 10:00 PM at NARA park

Barnstable: Dusk at Lewis Bay

Bellingham: 9:30 PM at the Football field

Beverly Farms: 9:00 PM at West Beach

Boston: 10:30 PM on the Esplanade

Falmouth: Dusk at the harbor

Marblehead: 9:00 PM at the harbor

Martha’s Vineyard: 9 PM in Edgartown

Nantucket: 9:00 PM off Jetties Beach

Newton: 9 PM at the Halloran Field and Sports Complex

Old Sturbridge Village: Dusk

Plymouth: 9:00 PM on the waterfront

Salem: 9:15 Pm at Derby Wharf

Wakefield: Dusk at North Avenue

Waltham: 9:30 PM at Leary Field

Wilmington: Dusk on the common

Go Inside - The Riverbank Lofts in Watertown, MA

THE RIVERBANK LOFT at 290 PLEASANT STREET in WATERTOWN, MA

Overview

The Riverbank Lofts is a complex of 56 condominiums in Watertown. The Riverbank Lofts are located at 290 Pleasant Street in Watertown, MA. The condominiums were constructed in 2006 in a building originally built as an office building and then converted into condominiums. Every unit comes with 2 deed parking spaces.

Units & Pricing

The units are all 1 bedroom or studio sized and range in size from around 621 square feet to 1,333 square feet. The units on the first floor have patios, while the back side of the building overlooks The Charles River. The original units came with washer and dryer included in the units, but resale units will obviously have the choice of keeping the washer and dryer if so desired. All units have 1 bathroom.

The monthly condominium fee ranges from the low $200's per month to the high $300's per month depending on size of the unit. The condo fee includes: Heat, Master Insurance, Elevator, Snow Removal, Refuse Removal.

The Riverbank Lofts

Sales History

The number of sales over the last three years in MLS transactions has ranged from 4 year-to-date in 2008 to 32 in 2006.

  • 2006 - Average Sales Price: $333,475 (10 units sold) with an Average Market Time of 24 days
  • 2007 - Average Sales Price: $332,966 (32 units sold) with an Average Market Time of 93 days
  • 2008 - Average Sales Price: $351,125 (4 units sold) with an Average Market Time of 495 days

Currently there are 4 condominium for sale at The Riverbank Lofts with an average list price of $342,166.33 and there is 1 unit that is currently Under Agreement that was listed at $350,000. For more information on the current listings or to be notified of any new listings at The Riverbank Lofts please email me at mark@smarthomesboston.com or call me directly at 617.448.9481.

Area

The Riverbank Lofts are located along the Charles River Bike Path, which leads all the way into Boston. It also has great access to the Mass Pike, Route 20 and more. With close access to Watertown Square's shops and restaurants this is a great commuter location.

Click Below to see my past Go Inside articles:

Go Inside Archive

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