Sippican Woods in Marion

Sippican Woods to offer affordable homes

By Tanner Harding and Georgia Sparling | Jan 18, 2017

Photo by: Tanner Harding

MARION — More affordable housing is coming to Marion.

Following the completion of the Marion Village Estates apartments, Baywatch Realty is proceeding with its adjacent 36-house development named Sippican Woods. Nine of those homes will go to lower income families in a lottery to be held in February.

The development is part of the plan for 60 apartments and 36 homes approved five years ago to add “40B” affordable housing for residents. The “40B” regulation allows the developer to bypass local zoning restrictions if a percentage of homes are sold or rented at below-market costs to people who meet the income requirements, and if a town has not met the state-required 10 percent minimum  of affordable housing in its boundaries.

The apartments, all of meet the state’s requirement for affordable housing, were completed in August 2015 and are full, said Ken Steen of Baywatch Realty. Affordable housing takes into account the median income in an area.

Preliminary work for the houses is underway, and Steen said the first affordable houses will likely be completed by the end of this summer.

“How many qualified applicants we have will determine the rate at which we construct the affordable houses,” he said.

Each affordable home is approximately 1,600 square feet, will have three bedrooms and one and a half baths, and will cost $213,300. Homeowners Association fees are $45 a month.

The affordable homes will only be sold to households with incomes at or below 80 percent of the area median income. The maximum allowable income starts at $46,000 for a single person and goes up to $76,250 for six people.

Everyone in the household must also qualify as a first-time homebuyer, and the household must be pre-approved for a mortgage.

The town also requires that preference be given to local residents for 70 percent of the homes, or six of the nine.

For this requirement, an applicant must be a current resident of Marion, have resided in Marion for at least five years, have a child who has lived in Marion the past five years, or be a full- or part-time town employee.

The remaining 27 homes are also generating a lot of interest. Though Steen said there isn’t a hard timeline for the project, some of the houses already have buyers.

He also said the project could take a year to finish or it could take three. It depends on demand.

“We started marketing them about four weeks ago,” he said. “There’s been a tremendous amount of interest.”

The deadline for the application to participate in the lottery is Feb. 14 at 2 p.m., and the lottery will be held Feb. 28 at 6 p.m. at the Elizabeth Taber Library.

“We’re excited to get into the for sale portion of the project,” Steen said. “We look forward to completing it. We think it’s a great product. We think it’s something the town is in need of.”

For more information, attend an information session on Jan. 24 at 6 p.m. at the Elizabeth Taber Library, or go to www.s-e-b.com/properties/for-sale-developments.

Visit sippican.villagesoup.com for more local stories.

Visit www.boldmovesrealestate.com for local realtors who are experts in the communities they serve.

This blog was posted on www.boldmovesrealestate.com on January 20, 2016.

Winter Home Staging

Winter Home-Staging

Selling homes during the winter months can sometimes be difficult.  Winter weather has a lot to do with this. Although many sellers may be hesitant to put their home on the market in January and February,  proper staging can ensure a quick sale and a good price.  Although buyers can understand barren trees and snow piles in the yard, accessibility is key to a good showing.

Agents can provide alternate directions or postpone the date of a showing or open house  if heavy snow is forecast. Also,  a safe path should be cleared from the street to the front door and  pathways  cleared to allow buyers to see certain outdoor areas, such as guest houses or storage sheds. Also, use the cold, snowy season to show how cozy the house can be.  Make sure each room is  warm, with windows and holes sealed and furniture moved away from vents to ensure proper air circulation.  If the home has a woodstove or fireplace, a crackling fire can add to the ambience of the home.  This is the best time to show them off.

Fabrics, rugs, curtains, bed linens, and tablecloths can all contribute to  the goal of creating visual warmth. Throws, pillows, and richly textured materials can be used to create a cozy image.  Winter-blooming plants can be placed near the entry, on the dining room table, or side tables around the couch to suggest the warmer months ahead.  Fresh flowers can also add to the hint of spring to come.

Don’t forget the sense of smell.  Mild winter scented candles or simply potpourri simmering on the stove can add to the warm, winter feel and can also mask any unpleasant odors of day to day living.

Decluttering and cleaning up can go a long way toward putting the home in the best light for potential buyers.  Let the perks of the season enhance rather than hinder the sale and this can mean less days on the market.

Visit www.boldmovesrealestate.com for a great team of BOLDIES who can help put your home in its best light and get it sold.   We can help with all your home staging needs with our own Laura Severino.

This blog was posted on www.boldmovesrealestate.com on January 13, 2016.

Winter is Best Time to Sell

winterWinter Is Best Time to Sell, Study Shows

The housing market doesn’t hibernate in the winter. Sellers who list and buyers who buy often find the winter season the most advantageous time to make a move in real estate, according to a new study by the real estate brokerage Redfin. The winter season officially takes place between Dec. 21 and March 20, and real estate professionals should be ready for a season that often brings in more focused and active sellers and buyers.

Winter Sales

In an update to a two-year analysis it completed last year, Redfin researchers studied nationwide home listings, sales prices, and time-on-market data from 2010 through October 2014.

The study found that February is “historically the best month to list, with an average of 66 percent of homes listed then selling within 90 days,” according to Redfin’s research.

Even in cold weather cities – such as Boston and Chicago – researchers found that home sellers were better off listing their homes in the winter than during other seasons.

The winter tends to net sellers’ more than their asking price during the months of December, January, February, and March than listings from June through November. Listing during those four winter months has resulted in higher percentages of above-asking-price sales than listing during any months, other than April and May.

Redfin researchers found that in 2012 December listings were producing the highest percentage of above-asking sales for the entire year at 17 percent.

Researchers say the winter market is less competitive for sellers since many people tend to wait until the spring to list. The smaller inventory of active listings help sellers get more attention from buyers on their properties. Also, many large corporations often transfer employees or hire new ones early in the year, creating opportunities for winter sellers from very motivated purchasers.

Homes that are “priced right and show well can sell any time” of the year, says Nela Richardson, chief economist for Redfin. Winter buyers tend to be “serious buyers… Most people are not window-shopping” in December and January, like they do in the spring months, Richardson adds.

Sellers shouldn’t worry about the holidays hampering their chances either. A 2011 study conducted by realtor.com® found that 60 percent of real estate professionals advise their sellers to list a home during the holidays because they believe it’s an opportune time to sell. Nearly 80 percent of the real estate professionals surveyed said that more serious buyers emerge during the holidays, and 61 percent say less competition from other properties makes it an ideal time to sell.

As for buyers, they may find winter a good time to make a move too. Sellers often are more flexible about negotiations over prices and terms than they would in the spring, real estate professionals say.

“People get more realistic at this time of year,” particularly if their homes hadn’t sold during the summer and fall, says Mary Bayat, a broker in Washington, D.C., and chairwoman-elect of the Northern Virginia Association of REALTORS®.

Source: “Best Time to List a Home for Sale? Winter, Redfin Says,” Los Angeles Times (Dec. 14, 2014)

http://realtormag.realtor.org/

Real estate is what we do.  Visit www.agentrising.com for your guide to becoming a real estate agent and defining your brand.

This blog was posted on www.boldmovesrealestate.com on Jan. 6, 2017.