You can call historic Ellis Heights home!

By 106045 On February 21, 2012 · Leave a Comment

2A Cragmore Road

In 2008, New England Preferred Properties and S.P. Vona Development did a luxury redevelopment of the historic Ellis estate in Newton Upper Falls. The original home was constructed approximately between 1790 and 1828. This large Greek Revival house sits high above Boylston Street, today’s busy Route 9, is best viewed from the opposite side of route 9. The house consists of the main block with full templar pediment and columned portico, a small stone side ell which is the early part of the house, and at least two one-story rear and side ells of clapboard siding. The main facade is three bays with one window in the gable peak, and three second story windows within the portico formed by the projecting templar gable supported by four monumental Doric-like columns. Windows have six-over-six sash set in frames with bull-eye corner blocks. The side hall entrance door is paneled and has flanking side-lights. The west side is four bays deep and has a projecting flat roof open porch. The gable end of the early stone part is visible only from Cragmore Road. It displays two second story windows each with six-over-six sash cut into the stone walls, one first story window and part of an addition which wraps to connect with the long side ell barn-like addition, which projects from a one-story rear ell behind the main block. The stone section has a shallow pitch to the roof and a narrow rake and some return.

Front of original Ellis House property

This fine Greek Revival dwelling is one of the most distinguished buildings in the district. It appears that the house was constructed in its present form in 1828, just one year before Rufus Ellis built the nearby Manufacturer’s Hotel (1269 Boylston Street). Prior to that there was a small stone cottage said by local histories to have been built in 1790. Some local histories attribute this house to Rufus Ellis who had come to Upper Falls in 1799 as agent to the Newton Iron Works and been responsible for the construction of cut nail factory (1809) and cotton mills (1813). Other accounts state that this is the William Ellis House about who little is known. Throughout the second half of the nineteenth century this was the home of Charles Ellis (1822-1892) who married Adela M. Cargill in 1863. She had grown up at 71 High Street and was the daughter of William and Anne (Storey) Cargill. 1

Rear of original Ellis House after project completion.

When the Ellis Heights Condominiums were completed, the original structure of the Ellis House was kept intact while constructing two luxury town homes within it. Six new construction high-quality energy-star rated Eco-friendly townhouses were built at the same time in Ellis Heights. These highly efficient homes include some of the best technologies available in today’s building industry including:

  • Hardi-Board® exterior siding. Unlike wood, Hardi-Board®does not shrink and expand as wood and paint adheres to it better than wood
  • Nu-Wool® insulation offers a wonderful sound and fire barrier as well as offering a 40% reduction in home heating costs over traditional insulation products
  • Windows and heating systems rated at 92% efficiency.
  • Rinnai® tankless water heater – delivering an endless stream of clean hot water with 40% savings over conventional tank-style water heater.

The townhouse at 2A Cragmore Road is currently available through New England Preferred Properties. This four-year-old unit is prime example of building with Eco-friendly technologies. The stunning 2,700 sq ft, 3 bedroom, 3.5 bath end town-home features:

  • Oak hardwood floors
  • Cherry-stained kitchen cabinets with black granite counter-tops against stainless-steel Energy-star rated and high-quality appliances (Jenn-Air and Bosch)
  • Master-suite with whirlpool tub and large walk-in closet
  • Heated one-car garage with automated garage door
  • Commuters delight as both a short walk to the MBTA’s Green-line at Eliot station and 0.5 miles from Interstate 95
  • Energy-star rated washer and dryer on the second floor
  • Gas fireplace
  • Alarm system
  • Access to Newton’s beloved Angier Elementary School

Contact New England Preferred Properties at 617-969-0676 for a private showing.

1 Information provided by Massachusetts Historical Commission

 

 

Short Sale Tips

By New England Preferred Properties On February 19, 2012 · Leave a Comment

In this market, short sales can sometimes be a good deal for a buyer but they also come with some potential pitfalls. A short sale is when a seller needs to sell their home for less than they owe on their mortgage. In order to get a bargain and not a headache you will need to do your homework. Here are some tips for protecting yourself before buying a short sale.

1. Use experts

It is important that before you buy a short sale you assemble a team of experts. During the initial phase you will need help identifying which homes are being offered as short sales. The nature of short sales are different, you will also need help determining a purchase price and what to include in your offer.

A real estate attorney who is knowledgeable in short sales is also key. Navigating the process of a short sale can be tricky so you will need an experienced short sale attorney to help deal with the potential of multiple liens, mechanic’s and condominium liens, or homeowners association liens. Often homes that are in short sale have these issues and without help will be harder to purchase.

2. Prepare emotionally

If you want a good deal on a short sale you will probably have to be in it for the long haul. It is important to stay patient, and remain unemotional during what can sometimes be a lengthy and emotionally difficult process. You may even want to consider a title search upfront. This could weed out properties with multiple liens if you are under a time crunch.

3. Know the market

In order to successfully purchase a short sale you need to know the marketplace. When a lender agrees to a short sale, they are agreeing to losing money on the loan they made to purchase the home. A short sale can be a good deal but it usually not a steal. The lender also knows the fair market value of the home and wants to minimize their losses. If your offer is too low, you chance it being rejected. During the process we will determine a price range that works with your budget and is hopefully one that the lender will accept.

4. Know the Process

The short sale process is different than that of a standard sale. The agreement to sell the home for less than is owed is actually made between the seller and the lender, not the seller and the buyer. The seller must first gain approval from the lender before the sale can be finalized.

First, you would make an offer on a home and the sellers must consent to your offer to purchase. Then the sellers must submit the offer to their lender. The seller also sends along documentation to the bank as to why they need to sell the home for less than is owed. The seller should also have an attorney to help them with this process.

Lenders typically do not move quickly on this process. It can often take weeks or months to get an answer. This is why is often best to put a competitive offer first. If several lien holders are involved; each can make a counteroffer or just reject your offer.

5. Firm up your financing

Lenders don’t just look at the amount you are willing to pay for the home; they will also weigh your ability to close the transaction. If have a strong offer lenders will look more closely at your offer. You will want to make sure you are pre-approved for a mortgage for any consideration. Other factors that could influence the decision in a positive way are: having a large down payment, ability to close at any time, and flexibility. They will often not consider your offer if you have a contingency.

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