Your credit score is critically important if you're buying a home.  A favorable credit score will not only make it possible for you to obtain a lower mortgage interest rate, but will be an important factor in determining whether or not the lender approving your loan. If you are concerned about your credit score, there is new information about what credit scoring companies deem important. One change that is being made is that there is a significantly more negative importance on a person that carries their credit balance near the limit. Experts are suggesting that people try to keep all balances owed near 30% of available credit. Another important fact is that you should never close an account with a zero balance. If you close the account, it can alter your total Debt to Credit ratio. It works in your favor to have a long credit history. Also, do not apply for too many credit cards, especially from companies that do not set a spending limit.  To raise your score, always pay your debts ON TIME. Your payment history makes up 35% of your score. A late payment can actually drop your score by up to 100 points and these late payments could last on your report for seven years. Bankruptcies last for ten years. If your score is below 620, people assume you are a bad risk dooming you to credit denial, sub prime interest rates, higher home insurance premiums, and possible checks form landlords withholding a lease. To order a free report go to annualcreditreport.com.

 

It’s that fun time of year again!  I’m so thankful to live in a country where we shoot cannons and explosives into the night sky to celebrate our freedom and not to overthrow repressive governments and dictators.  Around the world there is unrest—Honduras, Iran, Iraq and Pakistan are just a few of the world regions where freedom and the right to “life, liberty and the pursuit of happiness” are just a distant hope and dream.  I hope you will take some time this Independence Day to celebrate our treasured heritage with family and loved ones.  Remember always how blessed we are, how important it is to protect our freedom and to give thanks to those who came before us and sacrificed much to leave us the legacy and lifestyle we enjoy today.  To help you enjoy your 4th of July Holiday, here is a list of local holiday events, activities and of course Fireworks!

Andover

July 3: Andover High School, 80 Shawsheen Road with performance by Middlesex Concert Band at 7 p.m., followed by fireworks at dusk.

July 4: The Park, Bartlet Street, with jazz band concert at 8-9:30 a.m.; pancake breakfast (adults $5, children/seniors, $3; Horribles parade, 9:30 a.m.; children’s games, prizes and entertainment, 10-11:30 a.m.; Middlesex Concert Band, 10:30 a.m.-noon. 

North Andover

July 3: Town Common in Old Center with family picnic, music by Russ McQueen, beer and wine tent, 5-8 p.m.

July 4: Town Common, 28th annual Merrimack Valley Striders Road Race starts 8 a.m.; food, children’s games, crafters and display tents, 9 a.m.-4 p.m.; doll carriage and bike parade, pony rides, Rotary Club castle, beer and wine tent, starting at noon. Fireworks at North Andover Middle School, 9 p.m. Free parking and shuttle service from North Andover High to common, 11 a.m.-8 p.m.

July 5: Town Common with Military Appreciation Day non-denominational service at 9 a.m. with Ulysses S. Grant re-enactor, crafters and display tents, 10 a.m.; dunk tank, pony rides at noon; vintage baseball, 3 p.m.; performance by Jazz Disciples, 3:30 p.m.; beer and wine tent, noon.

Contributed by Paulette Zuena
Phone: (978) 482-3900 | Contact Paulette

Free Andover Property Search | Featured Listings

If you are in the enviable position right now of looking to buy a home, enjoy the current market: the buyer’s market. Home sellers in Andover and North Andover are happy to start a dialogue with a potential buyer, so arm yourself with any and all information to get the best deal possible!

• Right now you have more time to look, so you will be better armed with the knowledge of which houses have been sitting on the market for a while. These homeowners might be more likely to negotiate.
• Consider looking at new construction. Builders sometimes offer incentives and sometimes have very attractive financing programs.
• In certain areas that have been hit a bit harder by the market downturn, you certainly do have the upper hand whilst negotiating - and can always ask for an upgrade or a major repair before finalizing the deal.
• Sellers are often happy to work with your timeline. Don’t be afraid to ask for a closing date that's convenient for you.
• Even some lenders are willing to negotiate. You might ask for free private mortgage insurance, a better interest rate or even lower closing costs.
• Hire a Buyer Agent who is familiar with the area.  A good buyer agent will know her local market and be well equipped to negotiate the sale on your behalf.
• Sign up for free MLS listing alerts so you can see what homes are available in your Andover and North Andover neighborhood.

For more information on the current real estate market go to Housing Predictor.

Choosing the right community is so important, as how you can you really love where you live unless you love the neighborhood?  There are many different neighborhoods in Andover and North Andover.  Some may suit your needs more than others. In the frenzy of finding a home and scheduling moving day, many people forget that researching the neighborhood is one of the most important ways to insure happiness at your new destination. Before making your final decision on a home, don’t forget to:

• “Profile” the neighborhood. Ask yourself these questions: Is the quality of the school system important? Is the commute do-able for you? Do you like to be within walking distance to shops and restaurants? Do you like quiet?
• Once you zero in on a neighborhood you like you must research all school information, crime statistics, parks and recreation, neighborhood association fees and tourist attractions. Armed with this information it will be easy to make a wise decision for you.
• Take the time to visit. Don’t downplay your first impression. Take note of the community’s rush hour patterns, it’s social ability factor, it’s streetlights at night. Drive by the schools. Shop in the local grocery store. Try to meet some of your potential neighbors. All of these visual clues can be very revealing.

For more interesting ways to figure out if a neighborhood is right for you click here.  And be sure to ask me about my Buyer Agent services, I will develop a customized home search specifically taylored for  your homeownership needs. Also have free email alerts sent directly to your inbox for homes for sale in your favorite Massachusetts neighborhood.

One of the great benefits of living in New England, especially Andover and North Andover, is our proximity to great vacation destinations.  From the beaches and our shoreline, to the mountains of Massachusetts, Vermont and New Hampshire, there are terrific opportunities to own and enjoy a vacation home. If you have fallen into the category of a second-home owner who is having financial difficulty and trouble selling it, there are things that you can do to try and save money.  

• Wait for rates to come down again and re-finance the loan.
• Hold off on any planned home improvements.
• Rent the property. You may rent your property for up to fourteen days before having to report the income to the I.R.S. This is a wonderful option if your property is near a popular annual event that brings in many out-of-towners needing places to stay for the event.
• Donate the home to charity. You can donate a week for a charity auction and then possibly deduct the fair market rental value from your income taxes. A home can be donated as a Life Estate, which gives the homeowner the right to live there until death and provides a large tax deduction.
• If you are ambitious you could hire a tax attorney and appeal your property taxes. Many property taxes were assessed on values at the peak of the market, and are now valued much lower.
• Write up a written agreement or family limited partnership to share the financial burden of the second home with a “partner”. This could be a family member, or not.

To earn more about possible tax advantages of second-home ownership go to Family Education.

Buying your first home can be a very exciting milestone in a person’s life and I enjoy helping my clients find their first home whether its in Andover, North Andover or any of the surrounding towns in the Merrimack Valley.  It is very easy to picture all of the good times you will have there in the future, but many people get lost in the excitement and forget to plan for a rainy day. To avoid losing that home to unforeseen circumstances down the line such as a job loss or an illness, keep these things in mind when considering purchasing your first home.

• Make sure that you have enough in savings to cover your mortgage while you find a new job, should you lose your job. Many experts recommend at the very least to have six months worth of savings to cover all expenses, including the mortgage.
• Understand before purchasing your home, all of the expenses that will be involved to maintain the home. If you are considering purchasing a fixer-upper, make a list of all of the inevitable things that will need to be replaced or repaired and their costs. 
• Consider your other expenses, such as your car payment or transportation costs, taxes, etc. and whether or not this new home will be affordable for you.

For more information on the First Time Home Buyer Tax Credit:

Summer in New England is a very special time of year.  The days are long, school is over and it's time to enjoy family barbeques and our backyards here in Andover and North Andover. Many homes have decks that are wonderful for enjoying the great outdoors, whether you are entertaining a crowd or just relaxing and enjoying the sunshine with a good book. Unfortunately, decks require maintenance to keep them looking fresh, clean and splinter free. If you are thinking about embarking upon a useful spring cleaning project, cleaning your deck is a great place to start. Proper maintenance is essential to extending the life of your deck. First, look over your deck carefully for any sections that may need repair. Next, thoroughly sweep it off. After that, you must arm yourself with a power-washer. These can be rented if you do not own one. There are a variety of deck cleaners available, but the best choice is an oxalic acid-based one. These clean your wood nicely, prevent rust, kill mildew and are even plant-friendly. If you have tough mildew stains, you will need to use oxygen bleach to remove the stains. Next you must coat it to keep it looking beautiful.   If your deck is in need of repair or you're thinking about replacing or building a new deck or patio, check my on-line business directory for Andover and North Andover resources or contact me at RE/MAX Partners.  I can help you find experienced professionals to help you with all your home maintanence projects.

At times it can be expensive to simply maintain the biggest asset most people will ever own: their homes. Keeping this fact in mind, here is a list of ways to increase your home’s value without breaking the bank.

• Hiring an inspector could be the most cost-effective thing you ever do. This is true if they find a small problem that could morph into something much bigger down the line, such as a termite infestation or a water leak.
• Tremendous value is added by simply painting a room.
• Energy efficient homes that feature items such as special windows and/or programmable thermostats, save you money and are a marketable asset if you do need to sell.
• Landscaping improvements in the form of large shade trees make homes more desirable. They can also cut your cooling costs up to 40%.
• Improve your home’s air quality by replacing old carpeting, or removing it entirely if you are lucky enough to have hardwood flooring underneath.
• By adding a small luxury item such as a water filtration system, you are adding value to your home and saving yourself money since you will no longer need bottled water.
• Replace old fixtures such as an old ceiling fan for a newer, more updated-looking model. It will make your home more pleasant on hot days, and will appeal to buyers if you need to sell.

These tried and true tips are especially important in today's challenging market.  Home buyers are moving cautiously, afraid of paying too much for a home and looking for value in more and more places.  Although these steps take some time and some money...the return on your investment will make the effort worthwhile.

The first impression really does count with potential home buyers. If your home is lacking basic curb appeal or is not sparkling inside, you could lose a potential buyer’s interest immediately - and never get it back! Here are some tips to avoid losing a potential buyer:

• Flowers, flowers, flowers. Nothing welcomes a potential buyer more to a home than colorful flowers.
• Keep walkways clear, trimmed and weeded.
• Patios must be power-washed.
• Windows should be sparkling.
• Dust everywhere. Even the baseboards.
• Since potential buyers look everywhere, make sure underneath your sinks and closets are clean, clutter-free and odor-free.
• Remove all personal items such as framed photos, awards and collectibles. Buyers need to be able to imagine the space as theirs.
• Paint any room that is a bright color, a neutral color.
• Remove any worn or outdated furniture.
• Repair any chipped or smudged paint, broken fixtures or squeaky doors.
• Toss worn carpets.
• Consider replacing dated hardware.

For more information about home staging go to Home Staging Information and for a recommendation for a local stager contact me at RE/MAX Partners in Andover.  I feel so strongly about the value of home staging and making a great first impression that I include an initial consultation with my stager FREE as part of my home seller service package.

 Elegant Colonial set on a picuresque acre lot. Sophisticated style and first class amenities throughout including central air conditioning , hardwood flooring, custom built-in cabinetry, 5 true bedrooms, 3.5 baths and more than 1000 square feet of beautiful lower level living space. In home office, plenty of storage and desirable cul-de-sac location.  Take a virtual tour  of this fine home, schedule a private showing by contacting me at RE/MAX Partners in Andover, MA or search the entire MLS and sign up for free email updates!

Contributed by Paulette Zuena
Phone: (978) 482-3900 | Contact Paulette

Free Andover Property Search | Featured Listings