Need help or input on Mass. real estate - Posted by Barbara (ME)

Posted by Ed Garcia on June 12, 2000 at 21:03:06:

Hi Barbara,

My number is (909) 944-0199. I’d be glad to answer any questions you might have.
I’m sorry I took so long to respond, but my computer blew up. And right now I feel
like a man without a country. I had three years of work in my computer, with out a
back up system.

Right now I’m posting with a computer that I have at the office. Just venting Barbara,

Ed Garcia

Need help or input on Mass. real estate - Posted by Barbara (ME)

Posted by Barbara (ME) on June 11, 2000 at 19:11:13:

My daughter, husband, and 13 yr.old son live in North Andover MA, and the house their apt is in is being sold from under them. They have been paying approx. $675 a month rent for years, both have excellent jobs, and have excellent credit. They want to stay in the town because of their son who is very active there, but have no money for a down payment as he is paying hefty child support to an ex. The houses in No. Andover are VERY expensive and I do not believe there are many motivated sellers, if any.
They have rented an apt. today for $1150 a month which offers much less room and less advantages than what they have now.
I would love to be able to help them get a house as they are just throwing money out the window with that rent, but I am in Maine do not know where to start, as it seems an impossible situation. Any input? Thanks in advance.
Barbara (ME)

ATTENTION Ed Garcia - Posted by Barbara (ME)

Posted by Barbara (ME) on June 12, 2000 at 12:08:54:

JPiper said it might be wise to contact you in regard to mortgage companies which finance 100%. Could you give me some info in this regard or give me a number where you might be reached? Thanks so much.
Barbara (ME)

Re: Need help or input on Mass. real estate - Posted by John

Posted by John on June 12, 2000 at 09:53:28:

Why don’t you live in Mass with them?

Re: Need help or input on Mass. real estate - Posted by JPiper

Posted by JPiper on June 12, 2000 at 09:31:54:

100% financing is available for owner-occupants with good credit through institutional lenders. Obviously you have to qualify based on income. Contact a good mortgage broker…I would suggest Ed Garcia.


Re: Need help or input on Mass. real estate - Posted by Jim Rayner

Posted by Jim Rayner on June 12, 2000 at 06:50:55:


I live only one town over from north andover and you’re right about expensive, sales over the first 4 months of this year numbered 97 with prices ranging from 750K down to 125K for small 1 and 2 bedroom condo’s. I have been working this general area for nearly 9 years and have yet to get a deal in north andover. The rental market here is reaching a crisis point with vacancies lasting only hours. I have taking deposits for apartments before they are vacated or renovated for nearly the past year. Rents are 50% higher than they were three years ago and over the past 5 years property values have appreciated at least 63% even in the lower value area adjacent to north andover. Given the lack of available housing in the area in general they are fortunate to have found new housing all though its much more expensive.
the realtor that I work with lives in north andover and i will contact him today. he has access to foreclosures well in advance of them going public perhaps there’s something lurking in this regard.
I’ll let you know what i can turn up for you.