Homestead Realty Group



Posted by Homestead Realty Group on 10/19/2020

This Single-Family in Millbury, MA recently sold for $382,000. This Cape style home was sold by - Homestead Realty Group.


5 Atwood Ave, Millbury, MA 01527

Single-Family

$369,000
Price
$382,000
Sale Price

8
Rooms
4
Beds
2
Baths
Enter this charming neighborhood Cape home and be greeted by an abundance of natural light and gleaming hardwood floors. Plentiful prep area in the spacious granite and stainless appliance kitchen with open access to the living room and library makes for great entertaining. Desirable first floor bedroom (office in use), dining room and full bath are also located on this level. The second level features three additional bedrooms with multiple closets and hall bath with over size walk-in shower. Relax with morning coffee outdoors from the kitchen to a 14x18 deck overlooking the patio and lush yard. Useful 10x14 Reeds Ferry shed for storing gardening tools or could serve as a studio/workroom. Appreciate the convenience of walking to the Town Center for your shopping and dining experiences. Updates: Front yard irrigation system: 2017. Buderus Heating System, Central Air, Basement Windows, Reed's Ferry Shed and Patio: 2014. Architectural Roof: 2009. First and Second floor Windows: 2007.

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Categories: Sold Homes  


Posted by Homestead Realty Group on 10/19/2020


 


Every winter, your home faces harsh weather, and it may benefit you to examine your home during the warmer months for any areas that may need maintenance to avoid excessive and costly repairs to your home during or after the winter. Here are few things to check before the snow starts to fall.

1. The Roof: Excess snowfall on the roof during winter adds weight to the structure, which is why it's imperative to check its integrity often. Thoroughly examine it for leaks and erosion. Check the soffits and eaves for damage. Look on the ground for loose shingles. If you see any, have the roof inspected by a qualified roofer and schedule repairs as soon as possible. Correcting potential issues early could prevent any catastrophic emergencies later on.

2. The Garden: It is a known fact that the winter is unfavorable for most flowering plants. Check your garden for any plants that may need to be pruned or given any special attention before the cold months hit. Remove dead trees; add hardy hybrids and be sure to give your garden enough attention to watch it flourish even through the winter months.

3. The Garage: Even though your garage is well-secured and covered, you'll still want to maintain its upkeep during the winter. Your cars may bring in snow, mud, deicer, sand and debris. Be sure to keep the floors cleaned and check the walls and corners for any place that may house rodents or other pests.

4. The Pipes: Your water pipes are another essential thing to check after winter. During winter, pipes are prone to freezing and can split, crack, or burst, which becomes a hard problem to fix. Ensure they are in good condition before winter and recheck them after the season to fix any issues as soon as possible.

5. Chimney: Take a cursory look at your chimney after winter. There's a good chance it may have been damaged during the season. Ice can be very destructive, especially to your chimney's mortar and flashing where the chimney joins the roof, and may cause problems in the long run. Check your fireplace to ensure proper ventilation and cleanliness to avoid fire and smoke damage. Make sure to clean the creosote from the fireplace after seasonal use to promote your fireplace's longevity and maintain safety standards.

6. Garden Shed: For people that have a separate building for their garden tools, it is vital that you check this place after winter. Ensure that the ice and excessive wind haven't caused damage, and just as you did for your primary home, check the roof, eaves and flashing for damage.


Check all these places after each winter season and before the summer heat drives it from the forefront of your mind. You may want to dedicate at least one day to checking your home for early signs of damage or for areas that may need to be updated and reinforced. Your Realtor® may have a few other suggestions for maintaining your home or preparing for any regional hardships that may arise during the winter.




Tags: Maintenance   cleaning   Home Care  
Categories: Uncategorized  


Posted by Homestead Realty Group on 10/12/2020

Image by JayMantri from Pixabay

Reality TV shows captured the entrepreneurial imaginations of everyday people that anyone with cash and determination can turn a profit remodeling blighted homes. While profitable home-flipping tends to be more difficult than celebrities make it seem, one niche group appears to have a secret recipe for success — Flipsters.

The term “Flipster” is a conflation of “home flipper” and “Hipster.” What has escaped the casual eye of those outside the Hipster community is they are not merely artsy young people embracing the latest counter-culture. In fact, Hipsters tend to have a strong entrepreneurial nature that plays out within the bounds of their neighborhoods. Flipsters are an extension of that spirit who focus on turning a profit flipping homes in these neighborhoods. Of course, this begs the question: How are Flipsters different, and are they good for your property values?

How Flipsters Differ From Home-Flippers

The Flipster recipe for success involves going after downtrodden properties. If you recall a Hipster neighborhood a decade before their arrival, it was probably in decline and rife with crime. Unlike the stars on TV that seek that one bad penny in a jewel neighborhood, Hipsters are all about gentrification. They are inclined to buy depressed single and multifamily properties and renovate.

The initial wave of Hipsters most likely plan on setting down roots among their brethren. Soon after, Flipsters come in to scoop outlying homes knowing Hipster sprawl may be imminent. In this sense, Flipsters work in the opposite direction as traditional home flippers.

But their sense of security comes from being cultural insiders and a willingness to rent or wait for cash-flush community members to buy the property. That may sound like a simple enough way to flip homes for onlookers. However, the Hipster community tends to be tight-knit, and the homes must adhere to a loose ideology.

What You Should Know About Flipster Homes

If you watch Reality TV home-flipping shows, then it’s apparent that trendy, shiny, and new are game-changers. For the Flipster, old and re-purposed are the tricks of the interior design trade. Shopping for items at Good Will, junk stores, or the city landfill are more likely to yield the materials necessary to create a neat interior or exterior.

Smart technology, quirky gadgets, and artsy vintage stuff are also signatures of a retro Hipster living space. If you’re considering mapping out the Flipster method and replicating it, think again. Insiders tend to shy away from non-Hipsters, which could leave you holding on to a property too long and taking a loss.

Are Flipsters Good For Property Values?

The short answer is: That depends. If you own a property in a depressed area that Hipsters have begun to gentrify, chances are you can move it. The Catch 22 is that you would probably need to be an insider to get top dollar. However, it may be in your best interest to hire well-known Flipsters to renovate the property in keeping with the expanding scene. Making a deal could earn you increased resale value or at least a very cool space of your own.




Tags: property   Investment   Flipping  
Categories: Uncategorized  


Posted by Homestead Realty Group on 10/5/2020

Buying a home is one of the biggest and most useful investments that you’ll make in your lifetime. One thing you should understand when you're making big improvements to a home or doing any kind of high return renovations is that of the Capital Gains Tax. This tax can take away from the return on your investment, especially under the right circumstances. Even with minimal improvements to a home, if an area has seen an upswing in popularity, you could end up paying the price when you go to sell. 


Taxpayer Relief Act


The Taxpayer Relief Act of 1997 can help many people to hang on to the returns they see from the sale of their home. 


Previously, homeowners could qualify for a one-time tax exemption of up to $125,000 on the sale of a home. They also could combine the earnings in on the purchase of another home. Currently, there are a few ways that you can save on the Capital Gains Tax thanks to the TRA. 


House Flippers And Homeowners Aren’t Equal


Not all home sales receive an equal tax treatment. If you are flipping houses, you’re out of luck when it comes to receiving profit-friendly tax breaks. You need to have lived in a home as your primary residence for two out of five years of owning a home in order to qualify for tax breaks. If this isn’t the case, you’ll end up paying a Capital Gains Tax on the sale of the property. If you’re a professional house flipper, your homes are considered inventory and taxed as income. The tax on this can vary from 15% to 20%, depending upon the tax bracket you fall into.



The Type Of Property Matters When It Comes To Taxes


Whether the property is a primary place of residence, a vacation home, or a rental property, the gains are all taxed differently. If you own a second home that you’re interested in selling, it’s not treated the same as a primary residence for tax purposes. You’ll be taxed based on the amount of time that you owned the property, or the amount of time that the property was used as a second home. The taxes are based on a prorated amount of time.


The Price Of The Home Doesn’t Matter


You may think that higher priced homes are taxed more heavily than less expensive homes. This would be the case when it comes to property taxes, but it isn’t so when we’re talking about Capital Gains Taxes. These taxes are based on how much profit is made from the sale of the home. If a loss was taken, or the homeowner “broke even,” they may not owe as many taxes. A smaller home that had significant improvements made could be taxed a bit more than a home that was sold at a higher price with fewer upgrades.





Posted by Homestead Realty Group on 9/28/2020

The lifetime warranty. We’ve all heard about the wonders of owning an item with a lifetime warranty, but few of us actually own such products. Well, few of us are aware of it anyway.

The home is where we pour most of our money into. It seems like things are constantly breaking and needing to be replaced or repaired. But few of us check to see if the item has a manufacturer’s warranty. Nor do we remember if we bought an extended warranty.

In this article, we’re going to give you some tips on how to take advantage of warranties you may not know that you have, and how to shop wisely for warrantied products in the future.

But first, we’ll impart some general warranty knowledge.

Understanding the warranty

A warranty is a written guarantee provided to the purchaser of an item that they will repair or replace the item if it isn’t functioning as intended.

In most cases, there are time limits and exceptions to a warranty. Manufacturers know that their products won’t really last forever, so they plan for the eventual breakdown of the product from wear and tear.

Similarly, manufacturers don’t want you to misuse the product and then ask for a replacement, so they list exceptions to their warranties. To find out if one of your household items is under warranty, you can often check the manufacturer’s website.

To ensure you’re eligible for a warranty or replacement, it’s often necessary to have a copy of your purchase receipt which shows where and when you bought the item.

We know--keeping track of receipts is an annoyance few of us want to participate in. So, an easier solution is to keep an app like Google Drive or Dropbox on your phone with a folder called “receipts” or “warranties.” Then, the next time you make a purchase, simply snap a photo of the receipt and keep in in your drive.

Extended warranty warning

Many retailers will pitch you an extended warranty when you buy a product. Some of them are worth it, but most of the time you’re better off foregoing these add-ons.

Oftentimes, products are already covered by a manufacturer warranty. And, in some cases, the cost of the item is so low that owning a protection plan isn’t worthwhile.

Warrantied items you may not know about

Now that you know how to keep track of your warranties, let’s talk about some important items that you may not know has a warranty.

  • Roofing. Roofs are expensive and don’t last forever. However, many manufacturers promise 20 years of good service from your shingles.

  • Vinyl siding. Another expensive exterior item, siding is often warrantied by common manufacturers, including several “limited lifetime warranties.”

  • Tupperware. If there’s one product on this list you’ve probably heard of, it’s Tupperware. They’ve been famous for their lifetime warranties for decades.

  • Pampered Chef. This company makes an array of kitchen related products. Many of their items come with lifetime warranties.

  • Craftsman. Their power tools are affordable and include a lifetime warranty.




Tags: household   warranty  
Categories: Uncategorized  




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