Andover SF 5-14-2012
North Andover SF 5-14-2012

If you are wondering how local housing sales have performed in Andover, MA over the last year and last ten years then you will want to download this report.

In 2000 the median price of a home in Andover, MA was $407,000 and today it is $515,000. Since 2000, prices have appreciated 27% but over the period between the peak 2005 an the end of 2011, the median sales price is down 14%. The single family home median sales price have remained reasonably stable over the last 4 year with only slight depreciation in value.

For the time period between 2000 and 2011, housing sales are down 26% and have remained relatively flat since 2006.

In 2011 the average days on the market was 94 days and the average sales price to listing price ratio was 97% while the average sales price to offer price was 93%.

The spring market in Andover started to gain momentum in March and peaked over the three following months April-June. Sales agreement activity was at its highest in June of last year leading to the peak in closings between June-August. This is why pricing your home correctly will save you time and money. The average home was visited 11 times before the sale was made and most of the activity on a new listing occurred within the golden window of 10 days when it is fresh to the market.

The good news is that it is a great time to purchase a new home. Especially with low interest rates and depressed prices. If you are considering selling, you can feel more confident that sales volume and the median sales price have stabilized over the last 2 years in Andover, MA

Give me a call if you would like to discuss this report or more specifically your home. Kathy Cyrier, Broker Associate, Prudential Howe & Doherty Realtors, My Cell Phone 978-852-5811 or Kathy Cyrier’s Email

Click Here to Download the 2011 Andover MA Single Family Home Sales Report

Have you thought about how your insurance company will view your coverage for a fire if they find that major modifications to your home were completed with no building permit on file to ensure the work was performed to building code standards?

There are many good contractors that follow the rules and provide a good and valuable service. Where would we be without them. The question is how can you tell the difference.

First of all, understand that there is a difference between a simple home repair such as replacing faulty electrical switches or outlets and replacing a roof. A roof replacement most likely will require a building permit. This building permit process is viewed by many people as an obstacle to getting things done quickly. On the other hand, it begins the screening process for who is licensed in their trade and who is properly insured. It does not however, guage the difference in quality, reliability and honesty though. You will have to check references for that information. However the process does provides a service to help ensure sure that things are constructed according to the International Residential Building Code (with Massachusetts amendments). Many of the building codes today are a result of accidents that have caused injury or taken life over the many years in our country. Hence the reason the code requires proper fire blocking or the construction of that deck meeting the LIVE LOAD requirements to safely hold all those people at the back yard cook out or the roof holding all that snow that we were given last winter.

In selecting a contractor, understand that most but not all carry a Construction Supervisors License (CSL). This license requires taking and passing a comprehensive test in the knowledge of the state building code. Now the state requires an addition 12 hours of continuing education in order to maintain this license. There are specific licenses for the various trades such as Plumber, Electician, HVAC etc. Beware of the contractor who says to you the homeowner, I do not have the time to pull the permit; you do it and I will do the work. RED FLAG!!! This means that they probably are not licensed and do not carry insurance. In addition, as soon as you the home owner signs the home owner exemption affidavit at the building department to obtain your permit, you are not longer eligible to apply for the state Guarantee Fund in case you are cheated as a result of non-performance by the contactor.

Another type of license in Massachusetts is the Home Improvement Contractor (HIC). In realty, this is a registration and not a license. It requires the contractor to pay a fee into a this guaranty fund for home owners who have been abused by a contractor. The most award that this fund provides is up to $10,000 and it requires that you file within 2 years of the contract and satisfy requirements in arbitration. In reality, this is a fund that the good contractors pay into to make up for the bad contractors. To obtain an HIC Registration the contractor must file with the Division of Consumer Affairs, Pay a fee of $100 or more depending on the number of employees in the company, provide a copy of documentation evidencing their business is registered in the Commonwealth of Massachusetts. There are exemptions such as full time students or HVAC, Electricians, and Plumbing contractors. Any other contractor who signs a contract for home improvements over $500 are required to possess this registration. You should always insist on a properly licensed contractor with proper liability insurance coverage. If a worker falls off your roof and is paralyzed you want to make sure that the contractors insurance covers you before hand. Insist on their insurance company sending you a Certificate of Insurance naming you as an additional insured before allowing any work to proceed. It should be noted here that NEW CONSTRUCTION does not require the HIC registration i.e. new home.

Always write a contact for the work being done. State law requires the following elements for any contract greater than $1,000: MUST CONTAIN: Contractors name and HIC number, Total Price, Payment Schedule, Provision for changes or extras, detailed list of specifications and materials to be used, start date and completion date and a copy of contractors insurance. I recommend tying the payment schedule to the amount of completion of the project and final payment withheld until final sign off for final inspection on the building permit by the building inspector. In addtion, Massachusetts law states that the contactor CAN NOT ask for more than 1/3 as a down payment except only when the homeowner requests special project considerations that may require monies in excess of a 1/3 down payment i.e. a gold leaf door as example. A detailed and well written contract protects all parties involved by greatly reducing the unknown.

Finally, check references before hiring anyone. REALTORS®, neighbors, local building supply and the building department know who is good and reliable and who is not. The local building department can not recommend anyone due to liability issues. However as you check around, you will begin to see a pattern.

Check with your local building department at Town Hall and your attorney before proceeding to make sure you have your bases covered.