Tuesday, January 14, 2014

Top 5 Entry-Level Home Sales in Dec 2013

I am starting a monthly series focused on identifying the top 5 entry-level homes that sold in the last month in the greater Burlington area. Why do these make it in my top 5? I am using the following criteria while judging the sales:
1) price point. I am considering anything below 220,000$
2) state of the house. Is it move-in ready? How much work needs to be done. Many first time buyers have already used their cash in order to make a down-payment and to cover closing costs. For many, they cannot afford to start pouring more money into expensive house removations.
3) neighborhood. Granted, this is a little bit more subjective, but I am evaluating ease of commute, and traffic volume.
4) re-saleability. For many, this first investment is not for the long term. How easy will it be to sell in 5-10 years?

So, without further ado, here are my top 5 for December 2013.

123 Birch St, Burlington.
This makes my top 5 not only because it was sold for under 175k$, but also because of the great hardwood floors throughout the ranch and that is was built in 1991, making it post lead-paint, and less than 25 years old. The downside is that there is no garage.

12 Cherokee, Essex
Sold for 182,000$. This is situated in a great neighborhood, on a quiet street. Could be a great starter home, but also could be something longer term, as there are many expansions possible when dealing with a cape. 

47 South Summit, Essex
Another Essex home! Sold for 185,000$. Finally, a garage! Which, in these cold climates is a definite plus both for the owner and for when you want to resell the house. Again, as with most ranches build in the 1950s, beautiful hardwood floors are found throughout the house. Bonus is updated kitchen and bathroom.

40 Lincoln, Essex
For something a little older style, here is a 1900 farmhouse which sold for just under 200k$. Also has a 2-car garage, which makes up for the smaller village lot. Many updates throughout the house. The downside of this one is that it is a 2 bedroom, which can make it a little more challenging to sell.

30 Brookwood Dr, South Burlington.
3 bedroom colonial with attached garage for 212k$. It is situated on a quiet street, on a big lot. The only downside is that it backs up to the interstate.

And that ends my top 5 of December 2013! What do you look for when house shopping? What are your top 5 criteria?

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