Welcome to the Stone Ridge Properties Blog!

Even though it’s more than a decade past the last recession, there is one trend that has continued: homeowners are staying longer in their homes. With the down market in 2008, many people chose to make smaller investments in their property rather than move to a bigger home. Fast forward to 2019, and across the country homeowners are staying in their homes an average of 13 years - up five years since 2010. In the Boston area, that number jumps to nearly 18 years. 

There are a few reasons why Americans across the country are holding onto their homes for longer. Rather than move to a new home, some owners have found it makes more financial sense for them to renovate or even demolish and completely rebuild their current properties. This could be for tax reasons, or simply that their current budget does not cover the amount of house that they need.

Secondly, Americans are living longer and healthier, which means the number of years they have in their own homes have increased. Many older Americans don’t feel the pressure to downsize just yet, so they are staying put and instead renovating their homes to fit their lifestyles. In some states, tax incentives make it even easier for people to stay in their current homes. 

So what does this mean for the market? For starters, it means less supply for first-time homebuyers and younger families looking to expand. Neighborhoods are skewing older, with less turnover in owners, and therefore less opportunity for younger people. When the housing supply is low and the demand stays consistent - as it is now - this means higher home prices (which is great news for sellers) and lower mortgage rates (which is great news for buyers). To entice the market, mortgage rates will drop, making it an ideal situation for a buyer if they are able to secure a home in a low supply market. It also means it’s an optimal time to list your property if you’ve been waiting for an extra incentive to sell. You can expect heavy demand and quick offers at asking price on your home.

In the long-term, the market can also expect a shift. Just because people are staying in their homes longer now, doesn’t mean they’ll stay forever. This is delaying the wave of people downsizing their homes, so we can expect a seller-heavy period in a few years, with higher mortgage rates and much more supply for the demand.

If you’re thinking about listing your property or finding for your dream home, contact us for more information on how we can help you start the process. We would love to work with you!

New mortgage policies will make it easier to buy a condo

Wondering if a condominium might be a smart choice for you or your family? They are an attractive option if you are looking to live in a downtown area, or maybe you are looking to buy your first property and are seeking a manageable space and price point. They are also perfect for downsizing to a property where you won’t need to mow the lawn or worry about a leaky roof. 

Why condominiums?

There are a multitude of reasons buyers are drawn to condominiums. First and foremost, there is less maintenance and less space to manage. Often condos are based in busy city or town centers offering easy access to restaurants, shops and public transportation. They also offer security due to building technology and in some cases security staff. Affordability is also a major benefit - condos tend to be significantly less expensive than single family homes.

New mortgage policies

If you have considered buying a condominium in the past or if you are a first time home buyer concerned about coming up with a large down payment, now is a great time to take a closer look based on the new mortgage and FHA policies. These rules impact the amount that a buyer has to put down at closing. Until now, condos were not eligible for the 3.5% down payments that were available for single family homes. Realtor.com reports, “The new rules, which are expected to extend eligibility to 20,000 to 60,000 additional condo units, go into effect on Oct. 15. “

Call us or register online today to begin your search for your perfect condo.

Work with us for your Fall home sale or purchase

Why choose Stone Ridge Properties as your real estate team this Fall?

1. Knowledge and Expertise: We work as a team and we immerse ourselves in our community! Our agents live, work, and raise families in the greater Newburyport area and will be an invaluable resource to you long after your transaction has closed.
2. Personalized Guidance: You will never feel like a "number" or just another client if you work with a Stone Ridge Properties agent; we value each and every one of our clients -- as we work together we will take into account your specific needs for your future home or for your home sale.
3. Real Connection: Let’s face it; buying or selling a home is one of the most important decisions of your life and can be an emotional experience. We will help you work through finding a dream home that suits your budget or selling the home your kids grew up in with empathy and understanding.

Transition your home from summer to fall with ideas from home staging experts

Fall has arrived! The leaves are bringing their bold colors to decorate our paths, parks and yards and the chill in the air has us thinking of cozy nights by the fire. We have rounded up some tips to help transition your home decor from warm summer hues to cooler autumnal decor.

Mimic nature

Mother Nature offers us a gorgeous palette this time of year. Use these rich colors to add pops of color in each room of your home, from kitchens to living rooms or even your bathroom.  The deep auburns and oranges of mums and the bright reds of the leaves can offer inspiration for transitional indoor accents such as vases, bowls and wreaths. Local home stager and interior designer Betsy Konaxis suggests, “Natural elements such as birch logs, large wooden bowls filled with gourds, pine cones or air plants are often another fun way to add nature’s fall décor.”

Layer up

The temperatures have us adding layers to our outfits but we can also use layers to add depth and “coziness” to our homes. Bedding is a great example of a place where layers can add not only warmth, but texture and color. Konaxis adds, “If you have wall-to-wall carpet, layering a smaller carpet at the foot of the bed or near a fireplace can create warmth and coziness as well.” Add pillows of varying sizes and blankets to fold and gather for a robust autumnal feel.

Throw in some throws!

Oversized chunky blankets are trending this fall, couple them with bright woven throw pillows to refresh your living rooms. Add a small distressed ladder or large natural baskets to the corner of your bedroom or living room as a place to store your layered throws.

Head to the farm

Our local farm stands have beautiful displays for the home that have been harvested from the fields or garden. Using pumpkins, gourds and seasonal fresh or dried flowers is a beautiful and inexpensive way to transform a mantle or tablescape.

Konaxis has one more piece of advice, “Autumn is the season of shedding. It is a good time to go through closets and storage areas to purge unused and unnecessary items that cause a feeling of added weight to our lives. Who knows what good fortunes you will harvest next year from donating to another’s needs.”

Contact home stager and designer Betsy Konaxis by visiting https://www.bkhomestagers.com.

The fall real estate market is making national headlines with our record low mortgage rates. At the end of August, the average 30-year mortgage rate was about 3.6% -- the lowest level since 2016 according to Freddie Mac data. This can have a huge impact on your finances whether you are buying a home, selling a home, or thinking of refinancing.

As REALTOR®s, this is great news! We are able to work with buyers during a time when interest rates are unexpectedly low, making future interest payments over a 30 year mortgage less daunting than ever.

For our sellers, this is great news too. Motivated buyers mean quick home sales for top value - especially when experienced agents are assisting in the process of preparing both the home owner and home purchaser.

Home sales, mortgage rates, refinancing & more!

Although home supply may be down in some areas of the country, these low rates combined with a strong economy are actually helping homebuyers across the board. As experienced real estate agents, we don’t get caught up in hysteria about market concerns or rumbles of a recession. But we do pay close attention to market trends. 

Lawrence Yun, chief economist at the National Association of Realtors (NAR) says, “We expect the second half of the year will be notably better than the first half in terms of home sales, mainly because of lower mortgage rates*.”

The agents at Stone Ridge Properties have been through many market cycles and can effectively guide you through your decision making process. If you need assistance or have questions about the interest rates or the current market, we are more than happy to assist you -- this is what we are here for! We also have relationships with mortgage lenders who can help you with your pre-approval, or can assist you with understanding your options for refinancing.

*Sources Yahoo Finance

We are experiencing lower than predicted interest rates currently, and this is something that can have a huge impact on your finances whether you are buying a home, selling a home, or thinking of refinancing.

As REALTORs, this is great news! We are able to work with buyers during a time when interest rates are unexpectedly low, making future interest payments over a 30 year mortgage less daunting than ever.

For our sellers, this is great news too. Motivated buyers mean quick home sales for top value - especially when experienced agents are assisting in the process of preparing both the home owner and home purchaser.

If you need assistance or have questions about the interest rates or the current market, we are more than happy to assist you -- this is what we are here for! We also have relationships with mortgage lenders who can help you with your pre-approval, or can assist you with understanding your options for refinancing.

Tap into the right resources

Courtesy of Realtor.com

Whether you're looking to buy a home or a homeowner looking to refinance, there are many mortgage tools online to help, including the following:

• A mortgage rate trends tracker lets you follow interest rate changes in your local market.
• A mortgage payment calculator shows an estimate of your mortgage payment based on current mortgage rates and local real estate taxes.
• Realtor.com's mortgage center, which will help you find a lender who can offer competitive interest rates and help you get pre-approved for a mortgage.

NEWBURYPORT

Saturday, June 8

12:30-2:00 12 Lime Street, Newburyport $909,900 Carissa Germain 978-270-8994

12:00-2:00 1 Colby Lane, Newbury 659,000 Lynne Hendricks 978-518-7369

1:00-2:30 24 Smith Street, Newburyport $865,900 Jennifer Germain 978-360-2526

Sunday, June 9

12:00-1:30 53 Glen Devin, Amesbury $239,000 Cathy Toomey 978-609-3970

12:00-2:00 2 Tuckers Lane, Amesbury $389,000 Nick Motsis 978-420-7378

11:30-1:00 68 West Main Street, Merrimac $329,000 Kathy Thompson 508-633-4170

12:30-2:00 12 Lime Street, Newburyport $909,900 Carissa Germain 978-270-8994 (see photo above!)

1:00-2:30 24 Smith Street, Newburyport $865,900 Steve St. Arnault 781-608-3999 (photo and listing details coming soon!)

1:00-2:30 56 Middle Street, Newburyport $1,199,900 Jennifer Germain 978-360-2526

1:00-3:00 83 Moseley Avenue, Newburyport $565,000 Lynne Hendricks 978-518-7369

2:00-3:30 28 Oakland Street, Newburyport $379,900 Celine Muldowney 978-270-9056

Summer is knocking on our doors! Enjoy these upcoming events in Newburyport, Amesbury and Salisbury in the coming (warmer) months.

Newburyport Farmers’ Market

Fruits and Vegetables, Savory Treats, Artisanal Handmade Crafts

Sundays, 9am-1pm

The Tannery Marketplace parking lot.

50 Water St, Newburyport, MA

http://www.thenewburyportfarmersmarket.org/

Cider Hill Farm Tours

Have questions about Massachusetts agriculture? Join Cider Hill Farm for a monthly behind-the-scenes tour as they dig into the inner workings of New England’s active and historic farming industry. Their knowledgeable staff guide with you through the immense abundance and variety that New England offers while you travel comfortably on the hayride vehicles. Tuesdays and Saturdays this summer - visit https://www.ciderhill.com/ for more information.

Cider Hill Farm, 45 Fern Avenue, Amesbury, MA 01913

The Cruise

Newburyport Harbor, June 27, 6:30-9:30

Come aboard the Captain's Lady III for dinner, drinks and cruise down the Merrimac all to benefit the Dana-Farber Cancer Institute. Learn more here and contact Sandy Berkenbush to purchase your tickets: 978-815-4751.

Amesbury Days - Annual Block Party & Fireworks

Downtown Amesbury, June 27 - July 4

21st Annual Amesbury Block Party, June 27

Fireworks, July 4 at Woodsom Farm

The Block Party kicks off events that also include Movies and Music in the Millyard, the Strawberry Festival and Employee Lunch, Kids Day in the Park, a concert at the Bandstand, and Pancakes in the Pines; all leading up to the Fireworks at Woodsom Farm. Whether you live in Amesbury or simply love to visit, Amesbury Days has events for everyone to enjoy. For more information visit www.amesburydays.org.

Salisbury Beach Bands, Fireworks & Fourth of July Celebration

Saturdays starting June 28, and special event Thursday July 4, 2019

What better way to celebrate summer nights than with live music & fireworks on the beach! Get to the beach early & plant yourself on the sand for a relaxing day on the beach – you’ve earned it! Band schedule and more information: https://mysalisburybeach.com/bandsonthebeach/

4 Broadway, Salisbury Beach, MA

Newburyport’s Yankee Homecoming

Saturday July 27th - Sunday, August 4th, 2019

Newburyport's "Yankee Homecoming" is the second oldest homecoming festival in the United States. Started by Newburyport Native George Cashman (First YHC General Chairperson in 1958), has brought years of a weeklong celebration to this city. The event hosts downtown nightly concerts and street performers, road race, fireworks show and ends with a parade down Historic High St. Please visit www.yankeehomecoming.com for event dates and event details.

Waterfront Movie Series

What could be better than watching a movie OUTSIDE on the Newburyport Waterfront Park on a warm summer night? Grab a blanket and your family & friends and join us! Movies will be shown on a 40-foot inflatable screen with an HD BluRay Projector and BOSE professional sound system. You don't want to miss this!

July 10, July 17, August 7, August 14

Rain Date:  August 21

8PM - 10PM

Waterfront Park, Newburyport

Saturday, June 1

11:00-1:00 4 Central Street, Methuen $625,000 Kevin Lawless 978-270-6151

11:00-1:00 3 Allen Drive, Salisbury $359,900 Judy Dodier 978-375-9297

12:00 - 2:00 70 Stevens Road, Andover $350,000 Joe Spencer 781-443-2779 (photo and complete listing details coming soon!)

Sunday, June 2

12:00-2:00 8 Buttonwood Road, Amesbury $429,900 Kathy Thompson 508-633-4170

1:00-3:00 6 Fourth Street, Amesbury $539,500 Mike Webber 978-423-2637

11:30-1:00 253 High Road, Newbury $795,000 Celine Muldowney 978-270-9056

1:00-3:00 1 Colby Lane, Newbury $659,000 Lynne Hendricks 978-518-7369

1:30-3:00 19 Greentree Lane $669,000 Celine Muldowney 978-270-9056

11:30-1:00 28 Oakland Street, Newburyport $379,900 Karin Martin 978-270-0362

12:00-1:30 17 Elm Street, Newburyport $659,900 Kevin Lawless 978-270-6151

12:00-2:00 70 Stevens Road, Andover $350,000 Amy Lance 617-347-6098 (photo and complete listing details coming soon!)

12:00-2:00 11 73rd Street, Newburyport (Plum Island) $850,000 Sandy Berkenbush 978-815-4751

1:00-3:00 3 Allen Drive $359,900 Judy Dodier 978-375-9297 (see photo and listing details above under Saturday's Open Houses!)

Thinking of Selling your home? Consider a Pre-Listing Home Inspection

Do you love surprises? Trust us, when you are selling your home, the last thing you will want is a major surprise during your buyer’s home inspection. But there is a way to prevent it! Prepare your home and your expectations with a pre-listing home inspection before your home hits the market.

There is a cost you will have to absorb to have your home inspected as you prepare it for sale, but for a relatively small investment, you could end up saving yourselves thousands in the long run.

Your pre-listing inspection will provide you with:

●      A detailed report of your home’s systems and structures

●      The opportunity to repair or replace components of your home

●      The chance to consider facts you learn into how you price your home with your agent

●      The peace of mind that there won’t be surprises at your buyer’s inspection

Our agents have great relationships with home inspectors on the North Shore of Massachusetts and the Seacoast of New Hampshire. We are happy to refer you to a great home inspection partner.