Striking While The Iron is Hot in Medford

By November 28, 2016 Blog, Resources

It’s been a whirlwind year for my client, Harleigh. Shortly after landing a new job, she decided to begin her house hunt in the highly competitive Somerville area. The search spanned the better part of the summer and she eventually nabbed a spacious condo near Tufts University well below list price. Harleigh just wrapped up the finishing touches and is looking forward to many years in her new digs.

“I never would have been able to find my diamond in the rough without Dana’s help. She knew what I needed (enough closet space to store my enormous clothing collection) and what I could live without for a while (a fancy kitchen). She was diligent and kept her eyes peeled for condos in my price range, specifically in the area I wanted to be. I dragged Dana to too many open houses to count, and was thankful for her positivity when a property I loved sold to an all cash buyer, way above asking price. She assured me another property would come along that would be perfect for me and within my price range.”

After touring several properties to gain an understanding of what her money could buy, she decided to make moves on a condo in Medford. With a Walk Score® of 85 and located in a much sought after Tufts Neighborhood near the proposed Green line extension, the condo felt like a no-brainer investment opportunity and an ideal first-time buy.

There were several factors that led to Harleigh being able to buy her condo under asking price and without competition — it’s all about striking while the iron is hot.

Advising Harleigh on how to navigate timing and the financial aspects of the transaction were critical in helping to secure the property. Recognizing the signs of a motivated seller gave us a huge leg up in the negotiation. To add to the complexity, the three-family home was being converted into separate units. Despite being a common scenario, a condo conversion makes financing even trickier for buyers looking to secure a loan. Fortunately, my network includes lenders who can finance non-warrantable buildings, which helps to open up the options and make these transactions smooth sailing.

“Dana gave me great advice throughout the whole process, and I cannot thank her enough. With such a competitive market in the Boston area, Dana knew when to strike on a well worth it property, and I could not be more grateful for her expertise and help!”

If you’re interested in finding your perfect place in Somerville or Medford, please be in touch. I would be happy to help advise and support you in your purchase.

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