Functional Obsolescence

FUNCTIONAL OBSOLESCENCE: is a reduction in the usefulness or desirability of an object because of an outdated design feature, usually one that cannot be easily changed. The term is commonly used in real estate, but has a wide application.

IN OTHER WORDS: Features of a home that are not practical or desirable that typically affect the price negatively.

EXAMPLES OF HOW IT RELATES TO REAL ESTATE:
Walking through one bedroom to get to another;
Front stairs that are taxing for buyers to have to walk up to get into the house;
A two level home with only one bathroom… on the first floor

Featuring 206 Central Ave, Medford

Offered at $519,000
Open Houses 9/10 12:30-2 & 9/11 12-1:30

Versatile layout lends itself to suit the needs of many different buyers. Traditional first floor unit has two corner bedrooms and full bath. Oversized front room leads to cozy, fireplaced living room and classic dining room with built-in cabinet. Eat in kitchen features tile floors, stainless steel appliances, corian countertops. Second floor addition was built as a three bedroom, including a master with a full bathroom, but could easily be used as a master suite, playroom, office, in-law – whatever you need!  Gleaming hardwood floors throughout, abundant natural light, front and back decks, adorable shared yard, detached garage and pets allowed! Super awesome location – walk to parks, playground and very easy commute – 1.5 miles to the Orange Line, 5 miles to Boston and Harvard Square and minutes to routes 93 and 95.

Featuring 6 Morgan Avenue, Stoneham

Offered at $529,000  Open Houses 5/21 12-1:30 and 5/22 1-2:30

Picture perfect home located in Bear Hill. Set back in a wonderful, established family neighborhood, this unique multi level home features 3 bedrooms, 1 full and two half baths (including a master bath). Versatile first floor plan with fireplaced living room, updated kitchen with 8×12 dining area and three season porch that leads to private, fenced in yard. Sunny and bright oversized family room has separate laundry area and an additional heated sqft in basement could be used for office, playroom, in-law – use your imagination.

Featuring 25 Ridgeway Road, Medford

Offered at $489,000        Open houses 4/9 12-1:30 & 4/10 2-3:30

Well appointed and set back from the street, don’t miss this lovely three bedroom colonial in fabulous location. Sunsplashed property has great energy and features an oversized eat-in kitchen with plenty of cabinets; fireplaced living room; dining room with glass sliders that open to a deck overlooking perfectly landscaped, fenced in yard.  Master bedroom leads to a charming sun room. Gleaming hardwood floors, classic moldings, turn of the century doorknobs are just some of the features of this classic home.  Full walk-up attic could have even more sqft. potential. Enjoy the time you’ll save on commuting with easy access to Rt 93 (less than 7 minute drive) and walkable public transportation.  Minutes from the Middlesex Fells.

Now Featuring 102 Harvard St., Medford

Offered at $359,000  

Open houses 4/9 2-3:30 and 4/10 12-1:30

 

Steps to historic downtown South Medford Square with restaurants, shopping and fantastic transportation options, including the proposed green line, and walking distance to Davis Square. This five room 2 bedroom unit features gleaming hardwood floors, soaring ceilings & spacious sun-filled rooms. Classic mix of old and new with an updated kitchen and bath, stained glass windows, classic mouldings and built-in china cabinet. Sun porch looks over lovely established gardens with fruit trees, grape vines and vegetables. Fenced-in yard. 2 off-street deeded parking spaces, washer/dryer in unit, storage, separate utilities. 2 pets allowed per unit.

Now Featuring 158 Trenton Street, Melrose

Offered at $569,000       Open Houses Saturday and Sunday 12-1:30

Style with Substance! Spacious 3-story Victorian townhouse feels like a single family home with just a short walk to fantastic Melrose centeDSC_3321r bustling with shops, restaurants, parks, and public transit. Recently renovated and tastefully restored by designer/owner this home boasts gleaming hardwood floors, soaring ceilings, and generous rooms with period details. Private entry leads into a gracious foyer with original spiral staircase that opens to a versatile combination family room/dining room and sprawling state of the art, eat-in kitchen. 5 large bedrooms, including 3rd floor Master with walk-in closet, 2.5 bathrooms, fenced yard with large patio, shed and off-street parking for 3 cars. Single family feeling with private entry, private yard, no fees and no access into either unit. Brand new gas heating system with hybrid water tank. Duct work is done for central AC.

Just move in and ‘be awesome!’

 

Kristy’s combination of business savvy, real estate experience, and community involvement reflects her rich background. She has been extensively involved in community groups and interests like the Medford Family Network and St. Raphael Parish. Before her 9 years as a Realtor, Kristy worked as a marketing executive with the Patriots, The Red Sox, The Boston Herald, and top Boston-area restaurants. She has been featured in The Boston Globe and CNN Money.  Her motto is “Buy and Sell SMART!”

Now Featuring 15 Rock Glen Circle, Medford

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Offered at $509,000

Open Houses –  Saturday and Sunday 12-1:30

Come home to your own private sanctuary perched above the city. Enjoy the charm and character of an updated older home with gleaming original hardwood floors, spacious sun filled rooms, glorious detailed woodwork, and built-in china cabinets with the conveniences of modern ameneties such as a professional-grade kitchen with superior stainless steel appliances with a Dacor convection oven, a Wolf range and Sub-zero Refrigerator. Three good sized bedrooms with a bonus room off one of the bedrooms that can easily act as a fourth room. Newer roof, heating and landscaping. Nestled on a quiet and friendly cul de sac in Fulton Heights, conveniently located to Boston and transportation

front porch  front hall view of living room living room 2 front roombookcase dining room kitchen kitchen 215 Glen Rock hallway master bedroom 3 bedroom 2 bathroom backyard backyard 2

Kristy’s combination of business savvy, real estate experience, and community involvement reflects her rich background. She has been extensively involved in community groups and interests like the Medford Family Network and St. Raphael Parish. Before her 9 years as a Realtor, Kristy worked as a marketing executive with the Patriots, The Red Sox, The Boston Herald, and top Boston-area restaurants. She has been featured in The Boston Globe and CNN Money.  Her motto is “Buy and Sell SMART!”

Now Featuring 208 Central Ave., Medford

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Being offered at $369,000

Stunning two bedroom, first floor condo has so much to offer! Great energy throughout with sunny rooms, gorgeous colors, updated lighting and gleaming hardwood floors. Gracious front parlor leads to fireplaced living room; lovely dining room with built-in and granite/stainless eat in kitchen with tons of counter space and cabinets. Both bedrooms are generously sized. Common outdoor space perfect for gardening and entertaining. Additional 360sqft of unfinished and very cool space in basement. Washer/dryer included. Pet friendly! Super awesome location – walk to parks, playground and very easy commute – 1.5 miles to the Orange Line, 5 miles to Boston and Harvard Square and minutes to routes 93 and 95.

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Kristy’s combination of business savvy, real estate experience, and community involvement reflects her rich background. She has been extensively involved in community groups and interests like the Medford Family Network and St. Raphael Parish. Before her 9 years as a Realtor, Kristy worked as a marketing executive with the Patriots, The Red Sox, The Boston Herald, and top Boston-area restaurants. She has been featured in The Boston Globe and CNN Money.  Her motto is “Buy and Sell SMART!”

No more guessing what’s happening in your neighborhood

The sign goes up, the cars start driving by.  You’re not “thinking” of selling, but you still are dying to know… “What is my neighbor’s house listed for?” For years you’ve been relying on that guy down the street who’s always home and knows everyone’s business, or tried searching the address on a website.

Finding out this information seems easier than ever if you have access to the internet, but are these sites reliable?  You can have access to this without relying on that guy or less reliable sites. Sign up on www.KristyB.com to find out the real value of homes in your neighborhood.* I’ll let you know when a nearby house goes up for sale, and what it is listing for.

You can know what that guy down the street knows, and still hold a job!

* Your email will not be used or sold for marketing purposes.  This is a no obligation FREE service.  Simply save your address in the search criteria to receive updates on real estate happenings in your neighborhood.

Ask The Realtor!

What should I do to get ready to buy a house?

First and foremost, get a satisfactory pre-approval letter from a reputable and reliable lender. It should be subject only to a satisfactory appraisal and a purchase and sale agreement. I have a list of trusted lenders that I would be happy to share with you. I have seen a lot of bait and switch on rates and closing costs, and many lenders who simply do not live up to the promises they make when they start doing business with the buyer. I can not overemphasize how important it is to do business with any of the people I know, because when a problem arises (they always do!) these people will be responsive to us and the team of attorneys, surveyors, title examiners and appraisers that work with that lender. If you can learn from other people’s mistakes, please learn from the many people I have worked with over the years who report that they wish they had not worked with someone unknown to me. Remember, if your bank is not prepared to close on closing day, you will be in default, and your deposit of five percent will be forfeited. Again, I’d be glad to provide a list of people who wish they had taken this advice and incurred a lot of undue stress. This is likely to be the piece of advice you are most likely to ignore, but at least I’ll sleep at night knowing I tried to help you avoid the problems you may encounter with a stray lender.

If you already own a house, your pre-approval letter should say that you are qualified to bridge if your home is not sold. If you choose not to bridge, or don’t qualify for a bridge, you may want to consider making an offer with a 48-hour kick-out clause, which would mean the sellers could come to terms with you but would continue to market their property. Should the seller receive a bonafide offer, you would have 48 hours to either drop your contingency to sell your home, or to waive it and go forward under the terms of your offer.

Your Neighborhood Realtor
Kristy B.