Question regarding a house in Reading, MA (Boston, Woburn: appointed, for sale)

[heather3]

Hi everyone! I have a question about a particular house that is for sale in Reading, MA. The address is 240 West Street. The realtor site we use says it's a short sale, yet online it looks to be decent (minus the wallpaper) but it's been on the market a long time. We have a relator up in MA but she is on vacation right now so I thought I'd ask some of the people who live in Reading if they have any background info about this house, the location etc. We will be moving to MA in late spring and have 3 kids (14, 12 and 9), and a dog. Thanks in advance for any info you have!

A link to the house on redfin.com: Real Estate Search | Redfin

[MikePRU]

Reading is not an area I cover as a Realtor. However, I checked directly on MLS and it is listed as a short sale. Also, looking at a satellite image of the location the street has a double yellow line on it which indicates a busier street. Short sales do tend to be lower priced than traditional sales because the buyer takes on more risk and because short sale is a misnomer. Short sales are typically anything but short. Generally, they take longer to complete than a traditional sale and the mortgage holder will likely make you jump through all kinds of hoops and you'll have to do things (i.e. close on the house) on their schedule and possibly with very short notice.

As a side note, I'm very disappointed to hear that your Realtor is not available to you because they are on vacation. As a Realtor, I never go on vacation. Don't get me wrong, I take trips and go out of town several times a year. However, I never tell my clients I'm going out of town so that they don't feel like they'll be disturbing me while I'm on "vacation." I'm always available wherever I am in the world by email or phone so I can answer questions. If a house needs to be shown, before I leave I make arrangements with other Realtors in my office that I trust to do a good job to cover the showing. Why? Simply because I put the needs of my clients ahead of my own. You may want to find an agent a little more dedicated to you. You shouldn't miss out on a great home because your agent is taking the day off.

[Makolly]

Why not call the listing agent and ask questions?

I agree with Mike, your realtor should have given you another contact person while she is away so that you don't miss an opportunity.

[Cato the Elder]

Originally Posted by heather3

Hi everyone! I have a question about a particular house that is for sale in Reading, MA. The address is 240 West Street. The realtor site we use says it's a short sale, yet online it looks to be decent (minus the wallpaper) but it's been on the market a long time. We have a relator up in MA but she is on vacation right now so I thought I'd ask some of the people who live in Reading if they have any background info about this house, the location etc. We will be moving to MA in late spring and have 3 kids (14, 12 and 9), and a dog. Thanks in advance for any info you have!

A link to the house on redfin.com: Real Estate Search | Redfin

We have friends nearby and considered buying a house in the same neighborhood. We liked it because it's a quieter/leafier neighborhood with architecturally distinct homes, yet right near amenities. We thought the general location was ideal. You're at one of the nexus points of metro Boston. You can easily shoot up I-93 to NH and VT or down to Boston. You can go up I-95 towards the north shore and Maine. You are in between a couple commuter rail stops. You have the big box stores like Target and the Woburn Mall nearby. The street you're considering is a bit busy. It's a extension of Washington St which is filled with stores and office buildings all the way to Winchester, but it does quiet down into residential space once you cross I-93 into Reading (almost all the traffic heading north turns on Mishawum). Schools aren't the "best" by MA standards, but they're pretty darn good - good enough that you shouldn't have any qualms about sending your kids there. Good luck.

[heather3]

Thanks for all the info. I'm not really concerned about missing an opportunity right now as we can't move for a few months, I was just looking for some more inside info...more than what I can see online and what a relator can tell me without having been in it him/herself.
I called her going out of town "vacation"...she didn't use that term. She has people available at the office, but sometimes, I find residents information to have some more details and other information that I find helpful (thanks Cato the Elder). MikePRU, thanks for the info...I saw the double yellow l line but the google maps picture doesn't show many cars at the time the picture was taken, so it's hard for me to tell!

[MikePRU]

Originally Posted by heather3

MikePRU, thanks for the info...I saw the double yellow l line but the google maps picture doesn't show many cars at the time the picture was taken, so it's hard for me to tell!

Anytime you see a double yellow line on the street it's a safe assumption that you're not looking at a quiet side street.

[greenduster]

What exactly is a short sale?

[holden125]

I know the street and the house. Cato the Elder's right - it's not that busy. There may be a bit more traffic than on some of the true side streets, but I'd venture it's the least trafficked street with a double yellow line in Reading.

I'm not thinking of buying anything for another 2-3 years, due to my personal circumstances, but I've had my eye on that house too.

[gf2020]

Holden, you are sorely mistaken. West Street is a major commuting thoroughfare in the morning and evening. I know, I drive it several times each week in my attempt to avoid the traffic congestion at the I93 interchange.

It is definitely an appealing house, despite its proximity to the street. Your children are old enough that they are unlikely to go chasing a ball in to the road so maybe the location isn't quite so important. It's a great commuting location and very convenient to shopping.

$460K doesn't strike me as a real bargain for a 170-year old house on a main road. I'm sure it needs plenty of work (heaven knows my 58-year old house does!) it's probably expensive to heat and the tax bill is $6500 per year.

[tikaram]

Heather, what attracted you to this particular house over others? I'm not familiar with Reading area, and it was interesting to read comments from locals pointing out different positives and negatives. if we know more what makes or breaks a deal for YOU, we can help better.