Posted by Competitive Edge Real Estate Services on 12/1/2020

When you’re buying or selling a home, you may hear the terms, “assessed value” and “market value.” There are few things that you should know about these terms. First, they cannot be used interchangeably. The assessed value is generally much less than the market value. If you’re buying a home, you probably would rather see the assessed value of the home as a price! If you’re selling, the same holds true for the market value of the home for you.


Market Value Is Used Differently Than Assessed Value


The market value is how much your home is worth on the market currently. The definition is exactly as the term sounds the home is looked at by an assessor and given a value. The assessed value is used to determine property taxes, among other things. As you can imagine, the assessed value can become a point of contention for many homeowners especially when it comes to paying their tax bills. Many homes end up being assessed at a higher price than their current value, bringing tax bills to higher levels. The market value is what the home will sell for when it is listed for sale.


Be careful when searching for a home to buy. Many sites list the assessed value along with the price of the home or estimated market value of the home. You don’t want to get these numbers confused when budgeting and searching for the perfect house. 


If you’re getting ready to sell your home, pay little attention to the assessed value of the home. That is not what your home will sell for. 


The market value is a good reason to hire a realtor to help you sell your home. Realtors are experts in finding the market values of homes. They will even do something called a CMA (comparative market analysis) for you to help you determine the right price for your home to sell at. This is where comparable properties in the area are examined for their selling prices and all the perks of your home and neighborhood are considered. The market value is determined by the price of the homes that have recently been sold in the area based on the location of the home and how close it is to certain amenities like schools, parks, and the probability of future construction. 


Finally, know that the market value and the appraised value of a home have a lot to do with how much a lender will give you to buy the property. Every home that is being bought must go through an appraisal, to protect the lender from overpaying for a home.    


Whether you’re buying or selling a home, knowing your value terms can really be a help in understanding the sweet spot for pricing a property  





Categories: Uncategorized  


Posted by Competitive Edge Real Estate Services on 11/28/2020


11 Pinewood Rd, Wilmington, MA 01887

Single-Family

$819,900
Price

8
Rooms
4
Beds
2/1
Full/Half Baths
Hot off the presses! Impressive Colonial featuring open concept floor plan located with easy access to most major routes, commuter rail, shopping & more. High end finishes throughout. Gourmet style cabinet packed kitchen offering entertainment sized center island, stainless appliances & granite, slider to composite deck. Oversized light filled family room, custom fireplace, formal living & dining rooms, spacious & inviting foyer. Gleaming hardwoods on first level, staircase & 2nd flr hallway! Second floor master bedroom suite, large walk in closet, master bath, jetted tub w/tiled surround, double vanity. Three other generous sized bedrooms, full guest bath, granite counter. Special features of 2nd floor laundry area and walk up attic with tons of easy storage needs, three car garage. A lovely home in fantastic area, plenty of room for home office space.
Open House
Sunday
November 29 at 11:00 AM to 1:00 PM
Open House this Sunday from 11 to 1. Send your clients to view this wonderful home.
Cannot make the Open Houses?
Location: 11 Pinewood Rd, Wilmington, MA 01887    Get Directions






Categories: Open House  


Posted by Competitive Edge Real Estate Services on 11/25/2020

This Single-Family in Lawrence, MA recently sold for $425,000. This Ranch style home was sold by - Competitive Edge Real Estate Services.


38 Pembroke Dr, Lawrence, MA 01843

Single-Family

$420,000
Price
$425,000
Sale Price

9
Rooms
3
Beds
1
Baths
Welcome to the Mt Vernon area of South Lawrence. Updated and well cared for Ranch style single family home. Updated kitchen with large kitchen island, recessed lights, slider to over sized deck. Living room with bow window, hardwood floors. Large Master bedroom with large closet, hardwood floors and corner windows. Two additional bedrooms with hardwood floors and double closets. Family bath with large vanity, tiled bath/shower. Finished basement with tile flooring offers a family room, two additional rooms, laundry/utility room, large storage closet and the walk out shed could be a private entrance for a home business. Located on a corner lot, convenient to Rtes 495 and 93. Quiet, peaceful, friendly neighborhood located next to Andover.

Similar Properties





Categories: Sold Homes  


Posted by Competitive Edge Real Estate Services on 11/24/2020

We live in a world of convenience and endless choices. To watch a TV show, you can find it on cable, Netflix, Amazon Video, Hulu, and more. Sometimes, all of these options make it easy to spend more than necessary on monthly services.

If you’re hoping to buy a home in the near future, one way to save a bit more each month is to cut corners wherever possible.

In today’s post, I’m going to cover some tips that will help you start saving toward the down payment on your first home.

Cutting down on monthly services

They’re enticing, the myriad of entertainment services that we can now take advantage of. For a seemingly low monthly cost you can have hundreds of channels through cable. However, many cable users have noticed that their cable bill keeps creeping up each year and the service doesn’t get any better.

One way to start saving more each month is to ditch cable altogether. For news and the weather, there are many websites available. And, some local news stations stream live on their websites for free.

But, what about watching your favorite TV shows and movies? One of the world’s best kept secrets is that of interlibrary loans. Most public libraries are part of a system that allows you to get books, games, movies, and TV shows shipped to your local library for free. You simply reserve the latest season of Game of Thrones and wait for an email from your library.

Another issue many people have with monthly entertainment services is their tendency to add up. Reassess your monthly bills. If you’re paying for Netflix, Amazon Prime, and Hulu, do you really need all three?

Be smart about your savings

To save effectively, make sure your savings account is seeing a high return on its interest rate. Online banks tend to have higher returns than their brick & mortar counterparts, and most people don’t need to make regular visits to a bank anymore anyway.

Similarly, for credit cards, choose one with cashback rewards. Only use your credit card for necessities, like groceries and gas. Then, pay off each statement in full each month. Once you get your rewards, use them for more groceries and gas or put them in your down payment savings account, if possible.

Don’t forget about CDs (certificates of deposit)

One of the most effective ways of saving for a down payment is a certificate of deposit. CDs are perfect for down payments because you aren’t able to withdraw from them until they have matured--i.e., until you’ve reached your savings goal. They can be set for 6 months, a year, or more, and they tend to have higher returns than savings accounts.


Using a combination of these methods will help you start saving more each month so you can achieve your dream of owning a home sooner.





Posted by Competitive Edge Real Estate Services on 11/20/2020


11 Pinewood Rd, Wilmington, MA 01887

Single-Family

$819,900
Price

8
Rooms
4
Beds
2/1
Full/Half Baths
Hot off the presses! Impressive Colonial featuring open concept floor plan located with easy access to most major routes, commuter rail, shopping & more. High end finishes throughout. Gourmet style cabinet packed kitchen offering entertainment sized center island, stainless appliances & granite, slider to composite deck. Oversized light filled family room, custom fireplace, formal living & dining rooms, spacious & inviting foyer. Gleaming hardwoods on first level, staircase & 2nd flr hallway! Second floor master bedroom suite, large walk in closet, master bath, jetted tub w/tiled surround, double vanity. Three other generous sized bedrooms, full guest bath, granite counter. Special features of 2nd floor laundry area and walk up attic with tons of easy storage needs, three car garage. A lovely home in fantastic area, plenty of room for home office space.
Open House
Sunday
November 22 at 11:00 AM to 1:00 PM
Cannot make the Open Houses?
Location: 11 Pinewood Rd, Wilmington, MA 01887    Get Directions






Categories: Open House  




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