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The Numbers Month to Month and Year to Year

The median sales price for North Andover MA Homes for Sale was $479,850 in October 2014 compared to $540,000 during September 2014 and $430,000 October 2013.

The number of North Andover, MA Homes for Sale that sold was 24 in October 2014 vs. 26 in September 2014 and 23 that sold October 2013.

There are 41 North Andover, MA Homes for Sale that are in contract which represents 32% of the overall available inventory of 128 homes, leaving just 87 homes currently available for purchase.

A few highlights of the current North Andover, MA Homes for Sale are shown below and represent a nice cross section of properties available, in contract and that have sold.

This Months Most Expensive North Andover MA Homes for Sale

The most expensive of all North Andover, MA Homes for sale this month is listed at $2,950,000 and includes 5 bedrooms, 5 full baths and 2 half baths and has 10,750 sq ft. I toured this and what impressed me the most was the lower level movie theater and game room (schedule a showing).

This Months Least Expensive North Andover MA Homes for Sale

The least expensive of all North Andover, MA homes for sale came in at $189,900 and would be a great home for an investor looking for a rehab property. It has 2 bedrooms and 1 bath with 1,122 sq ft (schedule a showing).

This Months Must See

There were some great North Andover, MA Homes for Sale to consider for this month’s ‘Must See’ home tour.
A home on Castlemere Place listed at $2,400,000 is this month’s winner with its amazing architectural detail along with an incredible indoor pool, tennis court, exercise room and outdoor jacuzzi.  (schedule a showing).

Below are a few highlighted properties for North Andover Homes for Sale and Sold Report for October 2014. If you’d like more information about these homes or a complete list of homes for sale and sold in North Andover, contact us and we’ll email you a full report.

1439 Great Pond Rd North Andover MA

Status: For Sale

1439 Great Pond Road North Andover MA
$649,000
5 BEDROOMS
3 BATHROOMS [ 2 FULL, 1 HALF ]
LISTING MLS ID: 71589593
Listing Courtesy of: Susan Todd Keller Williams Realty

Get Home Details!

165 Vest Way North Andover MA

Status: Sold

165 Vest Way North Andover, MA
$575,000
4 BEDROOMS
2 1/2 BATHROOMS [ 2 FULL, 1 HALF ]
LISTING MLS ID: 71726531
Listing Courtesy of: Susan Sells Keller Williams Realty

Get Home Details!

89 Marian Dr North Andover MA

Status: Make an Offer

89 Marian Dr North Andover MA
$462,000
4 BEDROOMS
1 1/2 BATHROOMS [ 1 FULL, 1 HALF ]

Get Home Details!

Information valid as of November 10, 2014. Please contact us for the most current information and status of these properties.

89 Marian Dr North Andover MA

Contact Ron Carpenito, North Andover Real Estate Specialist for a Showing of this home at (978)494-0346 or Click here to request a showing of this home.

ADDRESS: 89 Marian Dr North Andover MA 01845

PRICE:Price Make an Offer

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Just Sold – 165 Vest Way North Andover MA

Contact Ron Carpenito, North Andover Real Estate Specialist for a Showing of this home at (978)494-0346 or Click here to request a showing of this home.

ADDRESS: 165 Vest Way North Andover MA 01845

PRICE:Sale Price $575,000

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Here is all you need to know about condominiums, co-operative housing and duplexes.

Condos

Just like a single-family home, a condo owner runs his or her domain. A condo owner has a deed for the apartment, pays real estate taxes for the unit, and can rent out their unit if they wish.

Maintenance is a different story. Condo owners pay fees to keep up the grounds and the building (or buildings, for a larger complex). On one hand, you don’t have to mow the lawn every week. On the other, you help pay for someone who does. Fees can vary greatly depending on the building, the lands, and how well those in charge of the finances run the place.

A condo can be a good option for retirees or a disabled person who can’t manage a whole house. The relatively quick approval process for buying some condos makes it good option for young home buyers. If you’re interested in lots of personal space surrounding your home … well, you’ll share walls with neighbors.

In order to determine the market value of the condo, check the sales prices of condos of similar size, age, location—and those that have similar maintenance fees.

Also engage in due diligence when it comes to the finances. You don’t want to move in only to find the building needs multimillion-dollar fixes—and now you have to help pay for that.

Co-ops

A co-op is a non-profit company that owns and operates a residential complex. Buyers lease one of the building’s units by buying shares of stock in the building’s corporation.

Buyers have to go through a complex approval process, don’t own their apartment and don’t have ultimate control over to whom they can rent, sublet, or sell their property. If renting, you may have to present your potential tenants to the board for approval.

Mortgage or tax bills aren’t sent to the co-op shareholders but to the corporation. A monthly co-op fee includes the mortgage payments, taxes, maintenance and utilities. This cost is usually higher than condo fees. And they often require a larger downpayment than other options—but also often cost less overall.

There are financial advantages of co-op living—including substantial breaks on real estate taxes, transfer taxes and a recordation tax that occurs in real estate transactions. According to bankrate.com, co-op owners can deduct the maintenance fees from their taxes.

Duplexes

A duplex can refer to a residential unit attached to another, with a small yard to maintain. In some areas, like New York City, a duplex describes an apartment with two floors, in any kind of building.

(This is a prime example of doing your homework to make sure you understand differences in local real estate nomenclature.)

If you’re not ready to purchase a single-family home, a duplex or townhouse can be an accessible option. You could purchase a two-family house and rent out the second unit, subsidizing your own housing costs with a real estate investment. Depending on location, you may be able to qualify for publicly-funded home improvement costs.

If you decide to move out, you can simply rent it out. Your rented duplex will then be 100% rental property, while your expenditures on it are tax deductible.

Keep in mind, though, that your on-site living arrangements won’t offer you as much privacy as a single-family home. And you’ll have to learn how to play landlord—you’re responsible for not only your backed-up toilet but your tenant’s as well.

Other duplexes, especially in big cities, may allow for two families to each own in one small building. Splitting costs can get tricky. But you may get more space than you would in a condo, without the cost of a full house on your own.

Moving forward

Before you decide which is the best option for you, consider these basic questions:
◾How important is privacy?
◾Is owning your own property a priority?
◾Do you need professional maintenance help?
◾Do you have less-than-perfect credit which could adversely affect an easy approval process?
◾Would you like the option of being able to rent, sublet, or sell the unit to whomever you choose?

Research all your options to gain a better idea about which type of housing solution is best for you.

Educate yourself as much as possible while seeking the advice of a professional real estate agent who can help you.

With knowledge, patience and determination, you’re bound to find the right home.

>>See a list of all condos for sale in North Andover here

Article by: Anne Miller of Realtor.com

Condos for Sale in North Andover

Condos for Sale in North Andover MA at Heritage Green

Contact Ron Carpenito, North Andover Real Estate Specialist for a Showing of this home at (978)494-0346 or Click here to request a showing of this home.

ADDRESS: 67 Fernview Avenue – Unit 4, North Andover, MA 01845

PRICE: $132,500

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North Andover MA Heritage Green Condominium for Sale

Contact Ron Carpenito, North Andover Real Estate Specialist for a Showing of this home at (978)494-0346 or Click here to request a showing of this home.

ADDRESS: 69 Fernview Avenue Unit: 10, North Andover, MA 01845

PRICE: $149,000

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North Andover MA Library Area Home for Sale

Contact Ron Carpenito, North Andover Real Estate Specialist for a Showing of this home at (978)494-0346 or Click here to request a showing of this home.

ADDRESS: 22 Mifflin Drive North Andover, MA 01845 – North Andover Library Area

PRICE: $329,900

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Townhomes in North Andover MA – Millpond Townhomes

Contact Ron Carpenito, North Andover Real Estate Specialist for a Showing of this home at (978)494-0346 or Click here to request a showing of this home.

ADDRESS: 33 Millpond Unit 33 – North Andover MA 01845

PRICE: $264,900

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Condos in North Andover MA – Alcott Village Condos

Contact Ron Carpenito, North Andover Real Estate Specialist for a Showing of this home at (978)494-0346 or Click here to request a showing of this home.

ADDRESS: 9 Alcott Way – Unit 9 – North Andover MA 01845

PRICE: $345,000

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Condos in North Andover MA – Oakridge Village Condos

Contact Ron Carpenito, North Andover Real Estate Specialist for a Showing of this home at (978)494-0346 or Click here to request a showing of this home.

ADDRESS: 2 Harvest Drive – Unit 308 – North Andover MA 01845

PRICE: $257,500

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