Duarte/Downey Real Estate Agency, Inc



Posted by Duarte/Downey Real Estate Agency, Inc on 5/20/2018

Owning a second home or vacation home is the dream of many Americans hoping to retire in style. However, owning a second home can also be a huge financial asset and even an added form of income if youíre savvy with the rental process.

What stops most of us from buying a vacation home in our ideal getaway? The funding, of course. But, there are ways to plan ahead to ensure youíll be ready to take the plunge and purchase a second home when the time comes.

In todayís blog post, weíre going to be talking about the steps to buying a home away from home and give you some tip on how to accomplish this goal in the most financially-sensible way possible.

1.  Location is Key

When you buy a second home, you take on all the responsibilities of homeownership a second time. Since you wonít be around every day to tend to maintenance tasks and troubleshoot problems, you risk discovering costly repairs that could otherwise be avoided.

The most common issues to be concerned with are frozen pipes in northern climates, flooding in coastal areas, and problems like pests that can be found just about anywhere.

Depending on your budget, you might want a home you can drive out to on the weekends, meaning somewhere close by to your primary home. This option also makes it easier to stay up-to-date on home maintenance tasks before they become an issue.

2. Try before you buy

If your ideal vacation home is in an area youíre not totally familiar with, itís a good idea to visit the neighborhood, talk to the locals, and gain their perspective on the area before buying.

This trip will also give you a sense of what you can expect to spend each time you visit the home. And, if you plan on renting out the property when you arenít using it, youíll be able to gauge what a reasonable rent price is for the location.

3. Earning income from your vacation home

Making extra cash from a home that you get to use pretty much whenever you want. Sounds like a dream, right? It can be if done properly, but youíll need to ensure a few things before you can start earning income from your vacation property.

First, be aware that investment properties often require a larger down payment (typically 30%). Lenders also charge extra interest on homes that will be rented out.

Finally, there are local and state-level laws youíll need to adhere to. These laws are designed to protect your interests as well as the people who rent out your property, so make sure you use a standard rental agreement for your area.

4. Making an offer

Youíve been here before. Once youíve decided on a home, itís time to start crafting your offer and negotiating with the sellerís agent.

However, before you pick a number, do some research on all of the expenses youíll be paying on the house in question. Property taxes, homeowners association dues, utilities, and any other costs should be on your radar before determining if itís the right home for your budget.

Youíll also want to be aware of the stipulations of renting out a property you own. This includes reporting income from renting your home to the IRS.


Now that you know the steps youíll need to take to move toward your goal of buying a vacation home, youíll be better equipped to make decisions that are best for you and your familyís future.





Posted by Duarte/Downey Real Estate Agency, Inc on 5/16/2018


3-A Marshall Lane , Truro, MA 02666

Truro (village)

Land

$399,000
Price

Residential
PropertyType
4 Bedroom lot with Potential Views of the Pamet River. Convenient and close to Truro Center and Ocean and Bay Beaches. Pamet Harbor right around the Corner. Adjacent to this lot is a 3 bedroom home, potentially expandable to 5 bedrooms, directly on the Pamet River, being offered for $995,000. If buyer would like to purchase both this 4 bedroom lot and the adjacent lot and home next door, Seller would sell both for $1,200,000. What an amazing deal! Buyer to due there Due Diligence in purchasing this property.
Open House
No scheduled Open Houses

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Tags: Real estate   land   02666   Truro  
Categories: New Homes  


Posted by Duarte/Downey Real Estate Agency, Inc on 5/15/2018

This Single-Family in Bourne, MA recently sold for $379,000. This Cape style home was sold by - Duarte/Downey Real Estate Agency, Inc.


4 Crows Nest Drive , Bourne, MA 02532

Bourne (village)

Single-Family

$384,900
Price
$379,000
Sale Price

7
Total Rooms
3
Beds
2
Baths
Walk to Beach - Desirable Neighborhood! This beautifully updated Cape is situated on a corner lot in one of the most desirable neighborhoods in Buzzards Bay. Walk to Electric Ave Beach and the center of town from this nicely cared for 3 bedroom 2 bath home with attractively manicured landscape and yard, fabulous screened porch for relaxing on those summer days and nights. One car garage. The first floor has a wonderfully renovated kitchen open to the dining area and den with skylight and ceiling fan. Down the hall is a large master bedroom that's been transformed with a gorgeous gas fireplace for those cold nights, a newly renovated bathroom with tiled shower and granite counter and another den that could be an office. Upstairs has 2 large bedrooms with a bathroom in between.

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Categories: Sold Homes  


Posted by Duarte/Downey Real Estate Agency, Inc on 5/14/2018


7 Marshall Lane , Truro, MA 02666

Truro (village)

Single-Family

$995,000
Price

5
Total Rooms
3
Beds
2
Baths
This Charming, 3 bedroom 2 bath, Classic Cape Cod Getaway sits on a Cul-de-sac right on the Pamet River in highly desired South Truro. Sweeping Views of the Pamet River into beautiful Cape Cod Bay right from the deck makes this property unique and special. Enjoy quite summer days right from the living room of this property as it boosts walls of windows where you can still enjoy the gorgeous views of the Pamet River. Within the past few years, the owners have painted the interior of the house and have had brand new carpets installed in the bedrooms. Re-finished wood floors throughout the rest of the property. Don't miss out on this amazing location! There are also 2 lots available for purchase next door. Please ask for details!
Open House
No scheduled Open Houses

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Tags: Real estate   Single-Family   02666   Truro  
Categories: Price Change  


Posted by Duarte/Downey Real Estate Agency, Inc on 5/13/2018

If you plan to sell a house, it can be easy to try to rush through the home selling cycle. However, doing so may do more harm than good, particularly for home sellers who want to maximize their profits.

Ultimately, a wait and see approach can be beneficial for a home seller. Some of the key reasons to consider taking a wait and see approach to selling a house include:

1. You can clean your house from top to bottom.

A messy home is unlikely to generate interest from large groups of homebuyers. Comparatively, a neat, tidy and pristine home is sure to stir up plenty of interest once it reaches the real estate market.

If you spend some time enhancing your house's interior and exterior, the benefits can be substantial. In addition to making your residence more attractive to homebuyers, you may be able to raise your chances of receiving offers at or above your initial asking price.

To clean your house's interior, you should spend some time mopping the floors, wiping down walls and ceilings and doing whatever you can to make each room look great. Meanwhile, to improve your house's exterior, you may want to mow the front lawn, trim the hedges and do everything possible to ensure your house has plenty of curb appeal.

2. You can conduct a comprehensive home appraisal.

A home seller who immediately adds a residence to the real estate market might not understand what his or her house is worth based on the current housing market's conditions. As such, this home seller risks pricing his or her house too high or too low.

Conversely, if you perform a home appraisal, you can set a competitive price for your residence from day one. This appraisal also will enable you to identify your home's strengths and weaknesses and find ways to transform assorted weaknesses into strengths.

Employ an experienced home appraiser to evaluate your house Ė you'll be glad you did. With a top-notch home appraiser at your side, you can receive the expert insights that you need to price your house appropriately.

3. You can discover the right real estate agent.

When it comes to selling a house, why should you be forced to work with an inferior real estate agent? Unfortunately, if you rush to add your residence to the real estate market, you may select the first real estate agent that you meet. And in this scenario, you risk making a poor choice.

On the other hand, a home seller who takes a wait and see approach can spend some time evaluating many real estate agents. Then, this home seller can make an informed selection and increase his or her chances of enjoying a successful home selling experience.

There is no reason to hurry through the home selling journey. Instead, deploy a wait and see approach, and you should have no trouble remaining patient and capitalizing on the right opportunities to maximize the value of your house.




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