Brenda Cahoon - Burlington Ma Real Estate, Billerica MA Real Estate, Woburn MA Real Estate


This Single-Family in Burlington, MA recently sold for $477,000. This Ranch style home was sold by Brenda Cahoon - EXIT Premier Real Estate.


1 Ellen Rd, Burlington, MA 01803

Single-Family

$479,900
Price
$477,000
Sale Price

9
Rooms
4
Beds
2
Baths
This home is in a great neighborhood & walking distance to Pine Glen Elementary. The current owner is the original owner of the home & the home has many of it's original qualities that are rare to find these days. Updates over the years include roof, insulation & siding. The living room has a fireplace & large picture window. The dining area of the kitchen has a large picture window that overlooks a wonderful, in-ground pool & pretty maintained yard. Three bedrooms are on the first floor. The second bedroom has sliders to a deck that oversees the pool & back of the yard. The mudroom has a washer & dryer located in the closet and is on the first floor. Hardwood flooring is under the carpet in almost all the rooms on the first floor. A family room, an office (that could also be additional bedroom) & an additional full bathroom is located in the lower level. This diamond-in-the-rough home will be the Gem of the neighborhood with your finishing touches. OFFER DEADLINE:10/8/19 @ 12:00 pm

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This home is in a great neighborhood & walking distance to Pine Glen Elementary. The current owner is the original owner of the home & the home has many of it’s original qualities that are rare to find these days. Updates over the years include roof, insulation & siding. The living room has a fireplace & large picture window. The dining area of the kitchen has a large picture window that overlooks a wonderful, in-ground pool & pretty maintained yard. Three bedrooms are on the first floor. The second bedroom has sliders to a deck that oversees the pool & back of the yard. The mudroom has a washer & dryer located in the closet and is on the first floor. Hardwood flooring is under the carpet in almost all the rooms on the first floor. A family room, an office (that could also be additional bedroom) & an additional full bathroom is located in the lower level. This diamond-in-the-rough home will be the Gem of the neighborhood with your finishing touches. OFFER DEADLINE:10/8/19 @ 12:00 pm

More Info on this Property | New Listing Alerts

This beautiful 50 ' split-entry home has been well maintained over the years & it shows. Open concept design for the living, dining & kitchen area. The four bedrooms are generous in size & freshly painted. The three full baths have all been updated. The attached two car garage was added 2 years ago & has a large mudroom to join to the main home. Unlike the typical splits, this home BOASTS a Large ( x ) storage area, so there will be PLENTY of storage options for the new homeowners. Professionally landscaped yard has a irrigation system , gardens and rock walls. Lower level has newly installed Shaw's Luxury Vinyl Plank Flooring. The lower level could have in law potential & does have access to the garage and outside. Close to all the offerings Burlington has, including the 3rd Ave shops & restaurants, the District,& our newest development at the center of town. Offer deadline 9/24/19 @ 12:00 PM. Please allow 24 hrs for seller's response

More Info on this Property | New Listing Alerts

In real estate terminology, you may hear about various ratios and where you need to fall within the ratio to qualify for the home you want. A ratio simply expresses a relationship between two values: they compare two things, so a student/teacher ratio might be shown as 18:1, or one teacher for every 18 students. Different ratios apply to residential home buyers, investors, sellers, and lenders, but here are a few that might apply to you.

Loan-to-value or LTV

A comparison between the amount of a mortgage loan and either the home’s purchase price (for new buyers) or its appraised value (in a refinance) is its loan-to-value ratio. Lower LTVs typically qualify a buyer or homeowner a lower interest rate because there is less risk of default to the lender. So, a conforming mortgage with 20 percent down often garners a lower rate than an FHA loan with only five percent down.

Higher LTVs place more risk on the lender so if the market drops, the home could be “upside-down” or worth less than the amount of the mortgage.

Debt-to-income ratio or DTI

More important to home buyers is the debt-to-income ratio. Also called a debt-service ratio, it expresses how much money the borrower makes monthly compared to the monthly ongoing debt payments and obligations. A lender uses this figure to determine how high a mortgage payment you can handle. The first number is your income (gross) from your job, plus any other income that can be counted such as child support or a trust disbursement that you can use to make your mortgage payment plus taxes and insurance, and if applicable, association dues.

The second number uses the same calculation as the first plus any long-term debt such as a vehicle or school loan and consumer debt. This amount is the percentage of your income used to pay housing and long-term debt. So, a ratio of 30:37 (also written 30/37) means you spend 30 percent of all your income on housing with no more than seven percent obligated to debt service. That leaves you with 63 percent of your income for food, auto insurance, medical bills, clothing, and other expenses. Qualifying ratios adjust over time, but the Federal Housing Administration lists the qualifying ratio and the formula to determine it to qualify for an FHA loan.

Price-to-income ratio

Your DTI comes from your personal debts and income, and the LTV comes from a specific home's value, but the price-to-income ratio expresses the affordability of housing in a given locale. Most often, it is the ratio of the median home price to the median household disposable income. This ratio helps you determine if the home you want to buy is overpriced (it will be hard to sell) or under-priced (super good deal) for its geographical location. Lenders use this ratio as one additional factor in determining risk for that specific home.

To learn where your ratios fall and to determine if an area is right for your household budget, let your local real estate professional guide you.


This Condo in Chelmsford, MA recently sold for $284,500. This Townhouse style home was sold by Brenda Cahoon - EXIT Premier Real Estate.


C14 Scotty Hollow Dr, Chelmsford, MA 01863

North Chelmsford

Condo

$289,500
Price
$284,500
Sale Price

5
Rooms
2
Beds
1/1
Full/Half Baths
Welcome home! Updated and well-maintained townhouse now available in desirable Scotty Hollow Condominiums! Bright kitchen with white cabinets, tile backsplash, granite countertops and stainless steel appliances. Living room with hardwood floor and fireplace, dining room with hardwood floor and slider to balcony overlooking wooded area. Half bath with laundry. On second floor you'll find a spacious master bedroom with loft and skylight and full bathroom and a large second bedroom. Spacious closets throughout the unit. Recent updates include fully renovated bathroom, newer paint and carpeting, air duct servicing, smart thermostat, and HomeKit enabled dimmer in dining room. Basement includes tiled entrance hallway, two closets and garage access. Community access to in-ground pool, walking trails, tennis courts and clubhouse.Generous visitor parking. Convenient location close to Route 3.

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