REAL ESTATE in MA

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DIVINE SUGAR CAKES LEASES 1820 TURNPIKE NORTH ANDOVERE MA

1820 Turnpike Street in North Andover is leasing to the Divine Sugar Cake Shop. Divine Sugar, a family run business, specializes in Brazilian style cakes and desserts.  The shop plans to be open for business by the end of the year.  Brazilian cuisine offers a wide variety of delicious cakes, each with its unique flavors and characteristics.  Divine Sugar Cake Shop. Randy Tibbetts of Tibbetts Real Estate negotiated the lease.

Divine Sugar Cakes leases 1820 Turnpike - Tibbetts Real Estate Group

1820 Turnpike Street in North Andover has been leased to Divine Sugar Cake Shop. A family run business specializing in Brazilian cakes.

Types of Brazilian cakes

Brigadeiro Cake: Brigadeiro is a famous Brazilian chocolate sweet, and the cake version often features layers of chocolate cake with brigadeiro frosting and chocolate sprinkles.

Bolo de Rolo: This is a rolled sponge cake with various fillings, such as guava paste or doce de leite (milk caramel). It’s a traditional dessert from the state of Pernambuco.

Quindim: Quindim is a bright yellow, sweet custard cake made with ingredients like sugar, egg yolks, and coconut.

Beijinho Cake: Beijinho is another popular Brazilian sweet similar to brigadeiro, but it’s made with coconut. The cake version often features a coconut cake with beijinho frosting.

Cocada Cake: Cocada is a coconut-based sweet, and the cake version incorporates coconut in the cake layers and frosting. It can be found in various regions of Brazil.

DIVINE SUGAR CAKES LEASES 1820 TURNPIKE

1820 Turnpike Street in North Andover is leasing to the Divine Sugar Cake Shop. Divine Sugar, a family run business, specializes in…

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ARE YOUR REAL ESTATE TAXES TOO HIGH IN NORTH ANDOVER MA?

Real estate taxes too high? Do you feel your real estate assessment is too high? Filing for a real estate tax abatement in North Andover Massachusetts involves a specific process with common steps to follow. An abatement is a lowering of the assessed value on real or personal property. The lower assessment results in a lower tax bill. Abatements may be issued for reasons of:

Overvaluation – the assessed value is too high compared to the actual real estate market.

Disproportionate Assessment – property is assessed in excess of assessments of comparable properties.

Improper Classification – for instance, a property is classified as commercial land when it is actually residential land.

Statutory Exemption – the property is exempt from taxation based on use.

Real estate taxes too high? - Tibbetts Real Estate Group

Real estate taxes too high? Do you feel your real estate assessment is too high? Filing for a real estate tax abatement in North Andover MA

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The What, Why, and How of Flood Insurance

Natural disasters, like what towns and communities in Massachusetts's have experienced have the potential to wreak havoc on our lives and properties. Flooding stands out as one of the most destructive forces of nature. As climate change continues to impact weather patterns, the risk of flooding has increased significantly in many regions. In this blog post, we will dive into the world of flood insurance – what it is, why it's important, and how it works. Whether you're a homeowner, renter, or business owner, understanding flood insurance can be a crucial step in protecting your assets.

What is Flood Insurance?

Flood insurance is a specialized type of insurance coverage designed to provide financial protection in the event of flood-related damage to your property. Unlike typical homeowner's insurance, which usually excludes coverage for floods, flood insurance specifically addresses damages caused by rising water, heavy rainfall, storm surges, or other water-related incidents. This coverage is typically offered through the National Flood Insurance Program (NFIP) in the United States, as well as through some private insurance companies.

Why is Flood Insurance Important?

Limited Coverage in Standard Policies: Most standard homeowner's insurance policies do not cover flood damage. As many home owners in North Andover have found out; this means that if your property gets damaged due to flooding, you would be responsible for covering the repair and replacement costs out of your own pocket, which can be financially devastating. Increasing Risk of Flooding: With the changing climate, the risk of flooding has increased in many areas. Even if you live in a region that hasn't historically been prone to flooding, the changing weather patterns and increased urbanization can lead to unexpected flood events. Peace of Mind: Floods can strike without warning, leaving little time to prepare. Having appropriate  insurance provides you with peace of mind, knowing that you have a financial safety net in place should the worst happen.

How Does Flood Insurance Work?

Flood insurance policies typically cover two main components: building property coverage and personal property coverage. Building Property Coverage: This part of the policy helps cover the physical structure of your home or property, including its foundation, walls, electrical systems, plumbing, appliances, and more. It's important to accurately assess the value of your property to ensure you have adequate coverage. Personal Property Coverage: This component covers your belongings, such as furniture, electronics, clothing, and other personal items. Keep an inventory of your possessions along with their estimated values to facilitate the claims process. Considerations: Coverage Limits: Flood policies have coverage limits, which means there's a maximum amount the policy will pay out. Be sure to understand these limits and consider purchasing additional coverage if your property's value exceeds the limit. Waiting Period: Many flood insurance policies have a waiting period before they become effective. This means you can't purchase coverage just before a flood is predicted to arrive for immediate protection. Planning ahead is key. Elevation and Risk Factors: Premiums can vary based on your property's elevation and its proximity to flood-prone areas. The higher the risk, the higher the premium. Conclusion: Insurance for flooding is a vital tool in safeguarding your property and possessions from the devastating effects of flooding. With climate change increasing the frequency and severity of flood events, the importance of having appropriate coverage cannot be overstated. By understanding what this type of insurance covers, why it's crucial, and how it functions, you can make informed decisions to protect your investments and find peace of mind in an increasingly unpredictable world. Read the full article

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Decoding Home Mortgage Interest Rates

Securing a mortgage is a significant step towards homeownership, and one of the most crucial factors to consider is the interest rate. Mortgage interest rates can have a profound impact on the total cost of your loan over time. But have you ever wondered what influences these rates? In this blog post, we'll delve into the factors that shape mortgage interest rates, helping you understand the dynamics that determine how much you'll pay for your home loan.

Economic Indicators:

The overall health of the economy plays a vital role in determining mortgage interest rates. Key economic indicators that influence rates include: Inflation: When the economy experiences high inflation, lenders often raise interest rates to protect against the eroding purchasing power of money. Employment Data: Low unemployment rates and strong job growth can lead to higher demand for housing, which in turn might drive interest rates upward.

Central Bank Policies:

The decisions made by central banks, such as the U.S. Federal Reserve, have a significant impact on mortgage rates. Central banks adjust short-term interest rates, which can influence borrowing costs throughout the economy. Federal Funds Rate: Changes in the federal funds rate can affect short-term interest rates, which then filter into mortgage interest rates.

Credit Risk and Loan Characteristics:

Lenders assess the risk associated with each borrower and loan. The riskier the loan, the higher the interest rate. Credit Score: A higher credit score often leads to a lower interest rate, as it signifies a lower risk of default. Down Payment: A larger down payment can reduce the lender's risk, potentially resulting in a lower interest rate. Damaged Credit: Repairing your credit can greatly help decrease your mortgage interest rate.

Loan Duration:

The length of your mortgage term can impact the interest rate. Shorter-term loans (e.g., 15-year fixed) generally have lower interest rates compared to longer-term loans (e.g., 30-year fixed). Interest Rate Risk: Lenders consider the risk of interest rates rising over a longer loan term, which can affect long-term loan rates.

Market Conditions:

Mortgage rates can fluctuate based on supply and demand in the lending market. Investor Demand: If investors show strong interest in mortgage-backed securities, lenders may lower rates to attract borrowers. Housing Market: High demand for homes can lead to increased demand for mortgages and potentially higher interest rates.

Global Factors:

Global events and economic conditions can indirectly influence mortgage rates. Global Economy: Economic stability or instability in major economies around the world can impact interest rates. Global Markets: Financial crises or geopolitical events can lead to a flight to safety, which might lead to lower mortgage rates. Conclusion: Mortgage interest rates are the result of a complex interplay between economic factors, government policies, borrower characteristics, and market dynamics. As a potential homebuyer, understanding these influences can help you anticipate rate fluctuations and make informed decisions about when to lock in your rate. While you may not have control over all these factors, being well-informed can empower you to secure a mortgage that aligns with your financial goals and circumstances. Read the full article

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Suburb home prices all time high

The soaring real estate prices in Boston, Massachusetts suburb have significantly impacted surrounding suburbs. Pushing suburb home prices at an all time high. The current real estate market in Boston Massachusetts is experiencing a significant surge in prices. With its thriving economy, rich history, and vibrant culture, Boston has become one of the most sought-after cities for real estate investment.  As property values continue to rise within the city limits, many prospective homebuyers are turning their attention to the suburbs in search of more affordable housing options.

Suburb demand

This demand for housing in Boston has created a ripple effect, causing an increase in prices throughout the suburban market. Families and individuals who were once drawn to these areas for their affordability are now finding themselves faced with skyrocketing prices that rival those within the city.  Buyers looking for more space, quieter neighborhoods, and access to quality schools are finding attractive options in the suburbs surrounding Boston. From historic towns with charming New England architecture to modern developments with state-of-the-art amenities, there is a diverse range of properties available. The increased interest, with prices steadily rising over recent years leading to Suburb home prices at an all time high. The demand for homes in these areas has led to a limited inventory and increased competition among buyers.

Stuck between a rock and a hard place

This surge in real estate prices has several implications for both current residents and potential buyers. Firstly, it is becoming increasingly challenging for individuals to enter the housing market, particularly first-time homebuyers who may be priced out of their desired neighborhoods. Additionally, existing homeowners may find themselves with substantial equity gains but struggle to afford larger homes within their communities.

Investors and builders Investors are also recognizing the potential for long-term growth in these suburban markets. With ongoing development projects and infrastructure improvements, such as expanded transportation options and commercial centers, these areas offer promising investment opportunities. but there is little land for sale to acquire that is developable. Investors have needed to get creative with buying older  tear down properties and building new. Buyers While prices may vary depending on specific locations within the suburbs, overall, Boston's suburban real estate market remains strong. Buyers should be prepared for competitive bidding situations and act swiftly when they find a property that meets their needs. Buyers considering purchasing a home or investing in real estate near Boston should explore its vibrant suburbs. They can provide you with an array of options at varying price points. The current market conditions indicate that now may be an opportune time to explore these suburban areas before prices potentially rise further.         Read the full article

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Low inventory higher real estate prices

The real estate market has seen a significant change over the past couple years. The new norm is with low inventory higher real estate prices. With inventory at an all time low.  This scarcity of available properties has created challenges for buyers and sellers alike. However, it is important to understand the underlying factors contributing to this issue and explore potential solutions. The rising prices in the real estate market have been driven by various factors; - Increased demand - Limited supply - Economic growth As more people are looking to invest in properties or find their dream homes, the competition has intensified. This surge in demand has outpaced the rate at which new properties are being developed or listed for sale, resulting in low inventory levels.

Buyer options

For buyers, this means limited options and increased competition for the available properties. It can be frustrating to search for a suitable property only to find that there are very few choices available. Additionally, the high demand often leads to bidding wars and inflated prices. This makes it even more challenging for buyers to secure a property within their budget. To address the issue of low inventory in real estate, there are several potential solutions that can be explored. One approach is encouraging new construction projects to increase the supply of housing units. This can be achieved through incentives provided by local governments or collaborations between developers and public-private partnerships. Another solution is promoting urban redevelopment initiatives that focus on revitalizing existing neighborhoods and repurposing underutilized spaces. By transforming vacant buildings or unused land into residential units, we can effectively increase housing availability without encroaching on natural habitats or green spaces. Additionally, technological advancements such as virtual reality tours and online platforms have made it easier for buyers to explore properties remotely without physically visiting each one. This can help streamline the buying process and provide more efficient access to available properties, even in a low inventory market. Higher rates The correlation between higher interest rates and rising prices in the real estate market cannot be ignored. As interest rates increase, the cost of borrowing money for potential homebuyers also rises. This can lead to a decrease in demand for real estate, which in turn can result in a surplus of inventory and lower prices. Although mortgage rates have most likely peaked, prices are increasing. Demand here in Essex county MA is still strong with listing days on the market for properties in the teens or even single digits. Buyers are in line for a property that fits their needs keeping inventory levels low. Towns such as Andover MA , North Andover MA, Middleton MA, North Reading and Haverhill MA are still showing very low inventories of single family homes, condominiums and multi-families.

Local homes for sale

real estate for sale in Andover & North Andover MA Low inventory higher prices It is important to note that other factors such as location, economic conditions, and housing supply also play significant roles in determining real estate prices. However, the impact of higher interest rates on affordability and buyer behavior should not be underestimated. In conclusion, it is clear that higher interest rates have a direct influence on real estate prices. As borrowing costs increase, demand may decrease and inventory levels may rise. Therefore, it is crucial for investors and homebuyers to carefully consider the prevailing interest rate environment when making decisions related to real estate transactions.     Read the full article

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Lot for sale North Andover MA

$399,000.00

Lot for sale North Andover MA. Buildable 1.04 Acre lot in North Andover! This rare buildable lot is located in a quiet location amongst many handsome single family homes with many newly constructed homes over the past few years. 150 feet of street frontage. This lot is fairly level and wooded with easy access to RT 125 and then to I93. This location is convenient for recreational hiking, biking and fishing at the Harold Parker State Forest or simply a refreshing walk through the woods. The Town of North Andover has this property zoned as Residence 2. Why buy used when you have the opportunity to build new! Don't miss the opportunity to build your dream home. Buyers and buyers agents to do their own due diligence as information gathered has come from third parties. TYPE of PROPERTY LAND / LOT ID: 107.D-0051-0000.0 ACRES 1.04 ZONED R2   Town of North Andover MA MAP GEO  

Lot for sale North Andover MA Town of North Andover MA wetlands map

  North Andover Property Card

  Boston Street Walk through video       Read the full article

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North Andover MA condos. Condos are often the preferred choice of homeowners who don't want to be bothered with building and grounds maintenance. In a condo, the HOA is typically responsible for the upkeep of all those amenities, plus shared assets like

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Price Reduced Retail Space

Price reduction for first floor retail space in North Andover Massachusetts 01845

NEW PRICE $2500 per month.

Great retail space currently used as a salon but other uses welcome. Located at Stonewall Plaza on RT 114 (Turnpike Street) in North Andover. This space is approximately 1400 square feet with front to back windows. Very bright. Central heat and air. The space was set up with five hairstylist stations, two wash stations, Mani-Pedi area, make-up area, massage room and waiting area. Ample parking. This lease would be a gross lease with a three year minimum. Tenant would pay first and security and their separately metered utilities. MA  

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17 Mass Ave North Andover Sold

SOLD

This property located at 17 Mass Ave North Andover  sold for $950,000 and closed on March 2nd 2023. 17 Mass Ave in North Andover MA is considered a Special Purpose Property. Randy Tibbetts of Tibbetts Real Estate Group represented the seller in the transaction. Contact Randy Tibbetts regarding this property.

The listing description for 17 Mass Ave North Andover is below.

Highly visible commercial real estate located adjacent to interstate 495 in North Andover. This commercial property is zoned General Business by the Town of North Andover and as such this property has many potential uses. There is one building on site that is approximately 1845 square feet consisting of office space, restrooms and two vehicle repair bays with 14 foot ceilings. Previously this property has been used as a car dealership and filling station.   Special Purpose Special purpose properties play a large role in our everyday life. A special purpose property typically is appropriate for one use or limited use. It may have a unique physical design, special construction materials, or a layout. It is a building that cannot be converted to another use without a large capital investment although there is a growing trend to transform some special purpose properties into new types of businesses such as turning a gas station into a burger joint or a church into condominiums but generally speaking a special purpose property can only be used for certain things. Types of special purpose property Examples of a special purpose commercial property are a church, theater, school, self-storage, car washes, gas station, theme parks, bowling alleys, marinas, campgrounds, theaters, funeral homes, community centers, nursing homes or public utility. Special Purpose Property Availability Inventory of special purpose property changes frequently. We represent clients looking to lease and or purchase industrial real estate property. Fill out our inquiry form to the right and we will provide you with the current inventory of industrial space in the area you are looking for. We also consider the following as a limited or special purpose property: amusement parks, bowling alleys, car wash properties, cemeteries, clubhouses, cold storage facilities (where more than 50% of total square footage is equipped for refrigeration), dormitories, farms (including dairy facilities), funeral homes with crematoriums, gas stations, golf courses, hospitals, surgery centers, urgent care centers, other health or medical facilities, hotels and motels, marinas, mines, museums, nursing homes, including assisted living facilities, oil wells, quarries, including gravel pits, railroads, sanitary landfills, service centers (e.g., oil and lube, brake or transmission centers) with pits and in ground lifts, sports arenas, swimming pools, tennis clubs, theaters and wineries. Commercial Leases There are three basic types of industrial space commercial real estate leases. These leases are organized around two rent calculation methods: “net” and gross.” The gross lease typically means a tenant pays one lump sum for rent, from which the landlord pays his expenses. The net lease has a smaller base rent, with other expenses paid for by the tenant. The modified gross lease is a happy marriage between the two. While terms vary widely building by building, this basic overview will help businesses shop for the best deal possible.  

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Keep your home pest free

Bugs - ants -  rodents!

What’s bugging you? Ants in the kitchen? Fleas from your pets? A mouse in the garage? The list of household pests includes those critters, plus termites, earwigs, millipedes, silverfish, voles, paper wasps, snakes, cockroaches, and many more. If these pests are causing a big problem, you need to talk to the pest control professional who handles your situation. But there are some things you can do to keep your home pest free so that you may never need to call in the professionals. Here are four effective pest management techniques.

Maintain your yard. The problem is pests inside the home, but the solution often begins outside. Keep up with yard maintenance. Rake leaves in the fall so animals won’t take up residence in them. Weed flower beds and gardens to discourage pests. Place bird feeders away from the house. Spilled bird seed attracts small animals who may decide to head inside your home for warmth and safety. Find homes for sale in Essex County.

Keep your home pest free

Seal up any spaces that give access to your home. While you’re outside, look around the base of your home’s structure. Look for places where small animals or bugs can crawl in. Insects and critters don’t need much space to make their way in, so look carefully. Shine a flashlight from the outside, with another family member or friend on the inside to identify openings. You may not close off all routes, but if you make it difficult enough, pests may simply move on. Keep it clean Keep your home clean. A clean home discourages insects and critters from taking up residence. If your home has an attic, basement, or garage, keep those spaces clean too. To keep out tiny pests such as ants, clean your kitchen on a regular basis. The idea is simple. Remove their food sources, and the pests won’t come in. Pest Control Use repellents. Chemical bug killers and repellents are effective, but you might want to opt for natural products, especially if you have pets at home and in your yard. You can keep ants and fleas under control with borax powder and diatomaceous earth. Other natural pest repellents are cinnamon, basil, and catnip. There’s plenty of information on non-toxic pest control solutions online. You could start here for insect control and here for natural approaches to insect and rodent control. Read the full article

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Price Reduced Retail Space

Price reduction for first floor retail space in North Andover Massachusetts 01845

NEW PRICE $2500 per month.

Great retail space currently used as a salon but other uses welcome. Located at Stonewall Plaza on RT 114 (Turnpike Street) in North Andover. This space is approximately 1400 square feet with front to back windows. Very bright. Central heat and air. The space was set up with five hairstylist stations, two wash stations, Mani-Pedi area, make-up area, massage room and waiting area. Ample parking. This lease would be a gross lease with a three year minimum. Tenant would pay first and security and their separately metered utilities. MA  

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