Andover MA Fiscal Year 2011 Budget Forum Date Change Notice

The FY11 Budget Forum that was originally scheduled for 3/25 has been changed to Wednesday, April 7th.
See below for details.

The League of Women Voters of Andover/North Andover and the Service Club of Andover are co-sponsoring the FY-2011 Andover Budget Forum at the Memorial Hall Library on Wednesday, April 7th from 7:30 to 9:30 p.m. The forum will be televised live and taped for rebroadcast over the community access channel.

The forum will include members of the Finance Committee, Board of Selectmen, and School Committee, plus Town Manager Buzz Stapczynski and Superintendent Claudia Bach. Stefani Traina from the League of Women Voters will act as moderator.

Interested townspeople should attend to learn more about the budget, the challenges that must be addressed, and the progress that has been made to date. This is a great opportunity for residents to ask questions of town leaders and to voice concerns and suggestions in advance of the Town Meeting which starts on Wednesday, April 28.

This year, questions will again be collected in advance of the forum to make presenters aware of the concerns voters would like them to address. Whether or not you plan to attend or watch a rebroadcast, please e-mail your questions to: presidentLWVANA@lwv-andovers.org. Additional questions will be taken from those who attend in person.

Andover, North Andover and surrounding communities - Real Estate Update for March 19, 2010.
Today I have an update on the new changes coming for buyer financing.

Notice regarding FHA loans  (the most popular loan option consumers are utilizing)

“ As of April 5th 2010 HUD announced that they will be changing their upfront mortgage insurance on all FHA loans from 1.75 to 2.25.  They also announced the change of seller concessions from 6% (closing cost credits) of the purchase price to 3% of the purchase price”  They will also be rolling out stricter qualifying ratios.
Please check all of your pre-approvals with your lenders there is due to be some fall out with the higher up front mortgage insurance.

If you are utlizing an FHA loan contact me for a FREE list of approved condominiums and townhouses and other properties  (978) 984-3107  or email homes@gracyteam.com

Notice last week regarding USDA Rural Housing

       “This message is to notify you that program funding for the Single Family Housing Guaranteed Loan Program will likely be exhausted by the end of April, 2010.”

Notice regarding Mass Housing Loans

“Effective April 1, 2010, Mass Housing will be lowering the maximum Loan to Value from 100% to 97% on one unit properties. All applications with Loan to Values greater than 97% must be dated (and) reserved on www.emasshousing.com on or before March 31st, 2010 and be closed and funded by May 31st, 2010. Mass Housing is unable to grant extensions beyond the dates noted above.”
If you have any 100% Mass Housing pre-approval out there make sure you are under contract by April 1st. Time is running out on this call me today for a list of USDA approved locations and properties (978) 984-3107. 

Notice regarding the first time home buyer credit
                “Under new law, an eligible taxpayer must buy, or enter into a binding contract to buy a principle residence on or before April 30th 2010 and close on or before June 30th 2010”
 
Investor Notice regarding FHA 90 flipping Rule
                “Hud has temporally loosened their guidelines regarding the 90 flipping Rule.   In order to obtain a waiver the property has to be approved by Hud.  In cases where a home inspection is required due to the increase in transfer price of 20% or more

For instant access to all local area properties visit http://www.GracyTeam.com 

Mark Gracy
Keller Williams Realty
168 N. Main Street
Andover, MA 01810
One Call Phone & Fax: 978-984-3107
Email: Homes@GracyTeam.com
www.GracyTeam.com

Copyright©  2010 Mark Gracy, All Rights Reserved.
Portions Copyright© 2010 Pro Step Marketing

Check out this weekends open houses in Andover and North Andover, MA

Andover, MA Open Houses 3-11-2010 to 3-14-2010                 ANDOVER OPEN HOUSES
North Andover MA Open Houses 3-11-2010 to 3-14-2010     N ANDOVER OPEN HOUSES

All the MLS open houses in The Andovers provided courtesy of
Mark Gracy - The Gracy Team - Keller Williams Realty Andover
(978) 861-4016    www.GracyTeam.com

The Massachusetts Association of REALTORS  /  Massachusetts REALTOR News
 
New State Smoke Detector Requirements   Andover, North Andover and the Merrimack Valley Real Estate Resource
3/8/2010
A new regulation regarding the installation and maintenance of smoke detectors goes into effect April 5, 2010.

These new regulations were enacted by the Massachusetts Department of Fire Services and will apply to single and multi-family homes built or most recently substantially altered prior to Jan. 1, 1975 and sold on or after April 5, 2010.  Homes built or substantially altered on or after Jan. 1, 1975 are governed by the State Building Code, which already imposes the same requirements & restrictions.

The regulations currently require two different types of smoke detectors to be in place depending upon the location in the home. In zones within 20 feet of a kitchen or bathroom, smoke detectors using photo-electric only technology will be required. Outside of the 20-foot kitchen and bath zone(s), both ionization and photoelectric technology must be installed. The battery/hard-wire rules are not changing at the state level.

These requirements were developed, in part, based upon research that shows that ionization smoke detectors tend to give false alarms due to fumes given off from typical cooking or steam from a shower. Frequent false alarms often lead residents to disable smoke detectors by removing their batteries.

 
527 CMR 32.00: Approved Smoke Detectors
32.01: Purpose and Scope
32.02: General Requirements
32.03   Installation of smoke detectors in the vicinity of a kitchen, bathroom or other areas
32.01: Purpose and Scope
Pursuant to the Board’s authority under M.G.L. c. 22D, s. 4 to develop a comprehensive fire safety code and under the general regulatory authority of M.G.L. c. 148, sections 10 and 28, the purpose of 527 CMR 32.00 is to enhance public safety by providing further technical qualification to the definitions of  “Approved monitored battery power smoke detector” and “Approved primary power smoke detector”, as those words are used in M.G.L. c. 148, sections 26D, E and F.

This regulation shall be effective as of April 5, 2010, and shall be the applicable standard for sellers to comply with the provisions of M.G.L. c. 148, s. 26F upon sale and transfer of certain buildings or structures occupied in whole or in part for residential purposes.              

31.02  General Requirements 
(1)  Except for smoke detectors located in the vicinity of areas regulated by 527 CMR 32.03, an approved monitored battery power smoke detector, shall consist of a working device, as defined in M.GL.c148, s. 26D, that employs both ionization and photoelectric technology, in either a single unit or by means of two separate units.  

(2)  Except for smoke detectors located in areas regulated by 527 CMR 32.03, an approved primary power smoke detector, shall consist of a working device, as defined in M.GL.c148, s. 26D, that employs both ionization and photoelectric technology, in either a single unit or by means of two separate units.   
 
32.03      Installation of Smoke Detectors In the Vicinity of a Kitchen, Bathroom or Other Areas
No smoke detector employing ionization technology shall be installed within 20 feet of an entryway to a kitchen, or bathroom containing a bathtub or shower.  The 20-foot measurement shall include and extend into common areas of a multi-family dwelling, if applicable.

North Andover, MA real estate update - Merrimack Valley Real Estate Update on the $8,000 tax credit for homebuyers.
I have been getting a lot of questions lately on the homebuyer tax credit so I thought I would take a moment and give everyone an update.  The clock is ticking on the $8,000 credit AND there is still time to take advantage and qualify for this opportunity.  Here are the revised criteria:

Home Buyer Tax Credit Revised in November 2009

First-time Buyer - Amount of Credit	$8,0 00 ($4,000 married filing separate)
First-time Buyer Definition of Eligibility	May not have had interest in a principal residence for 3 years prior to purchase
Current Homeowner - Definition of Eligibility	Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
Deadline for Tax Credit	Purchases after April 30, 2010 (Binding contract must be written by this date.  Purchaser has until July 1, 2010 to close on the property.)

There are some additional income and property purchase price limitations.  Give me a call of shoot me an email for details.  Don't hesitate.  Interest rates are at an all time LOW and will be going up, home prices have never been more affordable and the tax credit will be going away SOON.  Don't miss this historic opportunity to capitalize on your real estate investment.   SEARCH FOR ALL MLS PROPERTIES IN MA AND NH today and find your perfect home.
Mark Gracy - Your Real Estate Resource in the Merrimack Valley
(978) 861-4016    (tel &fax)      Visit our website for FREE Homebuyer reports

North Andover, MA real estate update - Merrimack Valley Real Estate Update on the $8,000 tax credit for homebuyers.
I have been getting a lot of questions lately on the homebuyer tax credit so I thought I would take a moment and give everyone an update.  The clock is ticking on the $8,000 credit AND there is still time to take advantage and qualify for this opportunity.  Here are the revised criteria:

Home Buyer Tax Credit Revised in November 2009

First-time Buyer - Amount of Credit	$8,0 00 ($4,000 married filing separate)
First-time Buyer Definition of Eligibility	May not have had interest in a principal residence for 3 years prior to purchase
Current Homeowner - Definition of Eligibility	Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
Deadline for Tax Credit	Purchases after April 30, 2010 (Binding contract must be written by this date.  Purchaser has until July 1, 2010 to close on the property.)

There are some additional income and property purchase price limitations.  Give me a call of shoot me an email for details.  Don't hesitate.  Interest rates are at an all time LOW and will be going up, home prices have never been more affordable and the tax credit will be going away SOON.  Don't miss this historic opportunity to capitalize on your real estate investment.   SEARCH FOR ALL MLS PROPERTIES IN MA AND NH today and find your perfect home.
Mark Gracy - Your Real Estate Resource in the Merrimack Valley
(978) 861-4016    (tel &fax)      Visit our website for FREE Homebuyer reports

North Andover, MA real estate update - Merrimack Valley Real Estate Update on the $8,000 tax credit for homebuyers.
I have been getting a lot of questions lately on the homebuyer tax credit so I thought I would take a moment and give everyone an update.  The clock is ticking on the $8,000 credit AND there is still time to take advantage and qualify for this opportunity.  Here are the revised criteria:

Home Buyer Tax Credit Revised in November 2009

First-time Buyer - Amount of Credit	$8,0 00 ($4,000 married filing separate)
First-time Buyer Definition of Eligibility	May not have had interest in a principal residence for 3 years prior to purchase
Current Homeowner - Definition of Eligibility	Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
Deadline for Tax Credit	Purchases after April 30, 2010 (Binding contract must be written by this date.  Purchaser has until July 1, 2010 to close on the property.)

There are some additional income and property purchase price limitations.  Give me a call of shoot me an email for details.  Don't hesitate.  Interest rates are at an all time LOW and will be going up, home prices have never been more affordable and the tax credit will be going away SOON.  Don't miss this historic opportunity to capitalize on your real estate investment.   SEARCH FOR ALL MLS PROPERTIES IN MA AND NH today and find your perfect home.
Mark Gracy - Your Real Estate Resource in the Merrimack Valley
(978) 861-4016    (tel &fax)      Visit our website for FREE Homebuyer reports

North Andover, MA real estate update - Merrimack Valley Real Estate Update on the $8,000 tax credit for homebuyers.
I have been getting a lot of questions lately on the homebuyer tax credit so I thought I would take a moment and give everyone an update.  The clock is ticking on the $8,000 credit AND there is still time to take advantage and qualify for this opportunity.  Here are the revised criteria:

Home Buyer Tax Credit Revised in November 2009

First-time Buyer - Amount of Credit	$8,0 00 ($4,000 married filing separate)
First-time Buyer Definition of Eligibility	May not have had interest in a principal residence for 3 years prior to purchase
Current Homeowner - Definition of Eligibility	Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
Deadline for Tax Credit	Purchases after April 30, 2010 (Binding contract must be written by this date.  Purchaser has until July 1, 2010 to close on the property.)

There are some additional income and property purchase price limitations.  Give me a call of shoot me an email for details.  Don't hesitate.  Interest rates are at an all time LOW and will be going up, home prices have never been more affordable and the tax credit will be going away SOON.  Don't miss this historic opportunity to capitalize on your real estate investment.   SEARCH FOR ALL MLS PROPERTIES IN MA AND NH today and find your perfect home.
Mark Gracy - Your Real Estate Resource in the Merrimack Valley
(978) 861-4016    (tel &fax)      Visit our website for FREE Homebuyer reports

Fewer Sellers Are Cutting Prices
The prices on 19 percent of homes for sale as of March 1st have been reduced at least once, the lowest percentage in the last year, according to Trulia.com.

In October and November, when the market was feeling the effect of the tax credit, 26 percent of sellers cut their asking prices.

“Better pricing is leading to less time on the market, less price reduction, and in a lot of markets we're starting to see bidding wars on lower end properties," said Ken Shuman, spokesperson for Trulia.

Trulia calculates that these U.S. cities experienced the biggest decline in price reductions from Feb. 1, 2010 to March 1, 2010:
Charlotte, N.C.
Colorado Springs, Colo.
Houston
Raleigh, N.C.
Jacksonville, Fla.
Albuquerque, N.M.
Tucson
Omaha, Neb.
San Antonio, Texas
Source: Trulia.com (03/09/2010)

New homebuyers seminar
Buying Your Home
   
FREE Homebuying Seminar
There is still time to take advantage of the $8,000 tax credit!

Thurs March 25, 2010  6-7:30 pm
Thurs April 8, 2010       6-7:30 pm

All attendees receive $250 off closing costs with Leader Bank and
$100 off '09 tax preparation with Emond Tax and Financial

Where:  Emond Tax & Financial Group Conference Center
11 Middlesex Ave Suite 10 Wilmington MA

Details visit our home buyers page