Archives for April 2017

Spotlight on Lowell

April 26, 2016

So today I did Jury Duty in Lowell.   I’ve been there before, with my friend/client Laura Roberts, who shares my love of grand, older homes. We went on a roadtrip last year to see a particular beauty.  But I hadn’t been to Lowell Center.  I have to say the center is very quaint with the majority of the area consisting of small brick and stone storefronts from the 19th century.  I was pleasantly surprised as I never thought of Lowell as being so quaint.  In my mind, it was a former mill town that lost its reason for being (the mills) and had become a shadow of its former self akin to the Rust Belt.   

The truth is that Lowell is true to itself in that it still has a robust population that is roughly 50% immigrant, who work primarily in construction and industry.  It has not become a ghost town.  The population has, in fact grown by 5% over the past 10 years or so to about 110,000.

So why am I so curious about Lowell?  Because they have some amazing, grand old homes that can still be had for reasonable prices compared to most of the Greater Boston area.  Yet it only took me 35 mins to get from Newton to Lowell.

For a sampling of what your money can buy – here are the most grand houses on the market in Lowell today.

 

 

Beyond the awesome houses, Lowell does have a lot to offer.  An MBTA commuter line, the Merrimack River, a National Park, Universities, Hospitals. The crime rate is reasonable and declining every year.  It is about half what it was 15 years ago and less than the national average.  And I must say that everyone in the courthouse was very nice!

What it doesn’t have is great school rankings.   So it may not be ideal yet for young families looking for a city with good schools.  

As I took a break from Jury Duty, I passed a woman who was shouting to an invisible adversary and then I was approached by a panhandler.  So not exactly gentrified yet.  But I do wonder if it could be down the road as Boston and the surrounding area become too cost prohibitive.  This tight spring market is pushing prices up ever higher and is pricing people out of the area immediately surrounding Boston. 

Lowell would be great for Boomers like myself,  who don’t really want to downsize their homes but would like to cut costs in retirement.  Or for young couples who don’t plan on having children but want a nice big house not too far from Boston.

Michelle J. Lane

MICHELLE J. LANE, Realtor
Century 21 Commonwealth
CELL: 617 584-3904

 

Welcome Spring!

April 16, 2017

First, I want to wish all of you who celebrate Easter a wonderful day with your family today, I hope that those friends celebrating Passover have been enjoying their time with family this week.  Many of you are on vacation during the children’s spring break, so it is a convergence of all things that give people pause to enjoy time with the ones they love, which, to me, is the most important thing in life.

For those of you looking to find a home, the market will hit full force after everyone is back from their vacations this week.  That is a good and a bad thing.  Good because more houses will come on the market.  Bad because, once again, not enough of them.  So we have to be prepared for bidding wars and scarcity of options, particulary at the entry level.  I’ll go into the details more about the landscape and how we can succeed after Easter.

In the meantime, enjoy your loved ones, the good food, the good times and this glimpse of summer weather!

 

 

 

Michelle J. Lane

MICHELLE J. LANE, Realtor
Century 21 Commonwealth
CELL: 617 584-3904

Congress Proposes Bill that will impact Affordable Housing

The WSJ recently published an article on Affordable Housing being at risk.  To net it out, members of Congress have proposed reducing the Corporate tax rate from 35% down to 15-20%.  Approximately 25% of all new apartment construction in the US is affordable housing.  So this will have a big impact on aaffordable housing.   As banks find these loans less attractive and reduce lending, projects will lose funding.  Investors have already started pulling funding for existing projects.  This will be a real shame for those who most need help finding housing.

Specifically in Newton Mayor Warren has set a goal of adding 800 affordable units by 2021.  This goal could be impacted by less available funding for affordable housing.  Fortunately, Massachusetts has Chapter 40B promote the building of affordable housing.  Basically, the way it works is that if developers allocate a minimum of 20% of the units to affordable housing, they can get a single comprehensive permit and 40B also allows them to override local zoning requirements.   Since those developers can make a good profit on the market value units, they may not be as dependent on loans from banks that are targeted towards building affordable housing.  

Overall, given many poor and working class people’s fears over housing costs, this is a shame because it has not even passed yet and estimates are that the affordable housing market has dropped by $1B.  

 

For more info on affordable housing opportunities in Newton – click here.

Michelle J. Lane
MICHELLE J. LANE, Realtor
Century 21 Commonwealth
CELL: 617 584-3904

 

Best Elementary Schools in Massachussets – 2017

Mason Rice School

Mason Rice School, Newton MA

Niche.com came out with their 2017 list of best elementary schools in Massachussets.  Lexington, Newton and Wellesley dominated the list.  Mason-Rice fell from number 1, but is still, the highest ranking in Newton, which is creating demand for housing in that school district.   In all, 9 elementary schools in Newton made it to the top 25.  Great schools, combined with easy access to Boston via the Green Line and the Commuter Rail are really pushing up prices of homes in Newton. 

Here are the top 25 to save you digging through the list:

  1. Lexington – Maria Hastings
  2. Lexington – Bowman
  3. Newton – Mason Rice
  4. Wellesley – Schofield
  5. Lexington – Joseph Eastbrook
  6. Newton – Ward
  7. Lexington – Harrington
  8. Lexington – Bridge
  9. Lexington – Fiske
  10. Wellesley – John D. Hardy
  11. Wellesley – Hunnewell
  12. Newton – Cabot
  13. Belmont – Roger E. Wellington
  14. Wellesley – Sprague
  15. Newton – Angier
  16. Belmont – Winn Brook
  17. Newton – Countryside
  18. Newton – Pierce
  19. Newton – Memorial Spaulding
  20. Brookline – Heath
  21. Belmont – Daniel Butler
  22. Westford – Day
  23. Newton – Bowen
  24. Newton – Lincoln Eliot
  25. Wayland – Claypit

For more details on these rankings, check out the full list here:

2017 Top Elementary Schools in Massachusetts 

Michelle J. Lane
MICHELLE J. LANE, Realtor
Century 21 Commonwealth
CELL: 617 584-3904