Beverly MA Real Estate & Beverly Massachusetts Homes for Sale

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Our Beverly, MA real estate website provides a wealth of information for home buyers and home sellers. Below, you will find information on the history and culture of Beverly as well as links to more detailed information such as demographics and schools. You may view a virtual tour, search homes for sale, and access information on different types of properties such as condos, farms, foreclosures, and vacation homes. This website will give you everything you need to buy or sell a home in Beverly, MA.

Virtual Homes is a full-service residential real estate company dedicated to providing a wealth of real estate and local community information to home buyers and home sellers. Our agents are ready to assist you with all of your real estate needs.

Beverly MA Community Profile & History

Beverly, Massachusetts is one of the oldest communities in the state. Residents describe their city as the birthplace of the United States Navy, noting that the first ship commissioned by the Navy sailed from Beverly Harbor. Although the city was the location of the first cotton mill and the first Sunday school in the country, and has one of its neighborhoods, the Fish Flake District, on the National Register of Historic sites, it is the present and future rather than the past which engross the energies of the community.

Beverly is 85 percent residential and emphasizes its academic and cultural facilities more than the industrial parks that house mixed computer and other high technology firms. The city is the home of private Endicott College and a campus of the public North Shore Community College as well as the site of the North Shore Music Theatre which brings in hordes of visitors to glittering Broadway-type productions. Beverly is home to a highly respected hospital, new library, new senior center, municipal airport, and numerous commuter stops for public transportation.

The commitment of Beverly residents to the development of its children may be the most defining cultural aspect of this community. This is reflected in the public school system, as well as through the variety of recreational, athletic, social and cultural opportunities provided to children. Residents note the first-rate hospital, the miles of beautiful beach, and the diverse sections of the community that offer everything from rural to urban lifestyles in saying that the city offers everything that anyone could want in a home town.

Beverly Massachusetts Community Information

Beverly Community Demographics and Local Resources
Request a Market Analysis on a Home in Beverly
Beverly Schools
Beverly Area Newspaper

Beverly MA Real Estate Information

Condominium Information
Farm Properties
Foreclosures and Short Sales
Land for Sale in Beverly
All Homes for Sale in Beverly MA
Retirement Homes and Adult Living Communities
Vacation Homes

Real Estate Industry News

Different financing alternatives are available depending on whether you are purchasing a single family, condo, multi-family, or investment property. Understanding the pros and cons of each may help you decide which option is the best for you. Speak to our buyer agent professionals and mortgage partners to understand and evaluate your options.

Beverly, MA Real Estate Market Statistics

The following information was extracted from the state-wide MLS system and its accuracy is not guranteed.

Beverly Single Family Home Sales Trends:

Year
Days on Market
#Sold
Average Price
Lowest Price
Median Price
Highest Price

2006
111
272
$505176
$200000
$383000
$3800000

2007
115
256
$448798
$175000
$368000
$4125000

2008
117
251
$411690
$150000
$348900
$3600000

2009
97
226
$428043
$120000
$328750
$5000000

2010
87
238
$432251
$81000
$339000
$4150000

Average Selling Price of Single Family Homes in Beverly

2006		$505176
2007		$448798
2008		$411690
2009		$428043
2010		$432251

Beverly Condominum Sales Trends:

Year
Days on Market
#Sold
Average Price
Lowest Price
Median Price
Highest Price

2006
123
125
$256175
$44000
$240000
$1125000

2007
130
179
$252016
$92500
$230000
$525000

2008
138
111
$228549
$37500
$219500
$665000

2009
129
70
$208485
$29250
$205500
$335000

2010
122
75
$208106
$23500
$200000
$680000

Average Selling Price of Condominiums in Beverly

2006		$256175
2007		$252016
2008		$228549
2009		$208485
2010		$208106

Beverly MA Blog Postings

Beverly MA Homes for Sale - Your Home Buying Guide

Purchasing a home can be a very stressful and confusing process especially if you are a first time buyer. Enlisting the services of knowledgeable real estate and related professionals will provide you with the background information and advice to make sound decisions in buying Beverly MA homes for sale. These professionals include mortgage loan officers, Realtors, attorneys, home inspectors, accountants and financial advisors.

This Beverly MA real estate sites provides a virtual tour of the community and information regarding the home buying and selling process, demographics, commuting, school and relocation information. Utilize the various tools and guides to assist you in finding and evaluating a Beverly MA home for sale.

Financing a Beverly Home Purchase

Most home buyers will finance the purchase of their home and there are numerous first-time home buyer financing programs offered by state agencies, local banks and national lenders. Many home buyers utilize FHA (Federal Housing Administration) mortgage options which provide greater flexibility in qualifying with lower down payments and credit scores. Other government insured loan options include the VA (Veteran's Administration) and the USDA (United States Department of Agriculture - Rural Home Loans). The MASS Housing programs are offered by a not-for-profit agency funded by tax free bonds.

Conventional financing, which typically requires a minimum of a 10% down payment, is readily available through a variety of mortgage lenders. Evaluate all your options and experienced loan officers will recommend programs that meet your specific needs. At the present time, interest rates for home mortgages are at historically low levels with fixed rates in the 4% range.

Once you have chosen a property and submit an offer, the Seller will consider the terms and conditions and evaluate your qualifications as a homebuyer. If you have a mortgage financing contingency, you must present evidence that you are qualified to meet that contingency from a reputable lender so that the Seller will accept your contract. The Seller does not want to take their home off the market unless there are reasonable assurances that the financing contingency can be met. Make sure your pre-approval is current as mortgage standards and rates often change. Sellers may accept a lower offer if your contract and financing demonstrate your strength as a buyer.

Why you should Consider Owning a Home

The major benefits of homeownership include solving your housing need and the tax benefits provided through the government. In many cases, especially for first time homebuyers, you may own a property for less than it costs to rent it. Mortgage interest and property taxes are deductible expenses and your tax adviser can compute the actual costs of owning your property. Interest rates are at historic lows and there is a wide variety of property inventory at very affordable prices. Declining values over the past three years provide exceptional price offerings.

In many cases, homeownership provides you with a quality of life that you may not find in a rental. Various factors apply such as privacy, location, housing styles, space, amenities, fewer restrictions and rules to comply with. In addition, owning a home may be a good return on your investment provided that you are not forced to sell in a difficult market. Home ownership provides you with stability in the community where school systems, recreational facilities and services are important to your lifestyle.

Finding Your Beverly MA Home

Consumers in Massachusetts have the option of hiring a real estate agent to represent them in buyer agency and this is disclosed in a mandatory disclosure form required by state law. The agent has a fiduciary responsibility to represent the buyer's interests instead of the seller's. You should interview two or three agents to determine their qualifications before signing an agency contract.

Your real estate agent can assist you in your homes search for a property listed in the MA MLS and homes sold by their owners (FSBO). You will find that short sales, Beverly foreclosures and bank owned property and are listed in the Beverly MA MLS. Our mapped based search, Beverly MA homes for sale, provides direct MLS access with your search results located on a map.

Home Inspection

Once you have found a Beverly property and are under contract, exercise your option to obtain a home inspection by a certified inspector. This process will give you more detailed information about the overall condition of the home prior to purchase. In a home inspection, a qualified inspector takes an in-depth, unbiased look at your potential new home to evaluate the physical condition structure, construction, and mechanical systems; identify items that need to be repaired or replaced; and estimate the remaining useful life of the major systems, equipment, structure, and finishes.

Title and Closing

Title companies or attorneys will research the title to make sure both the lender and the buyer is protected and has clear title to the property. Schedule a final walk-thru inspection of the property prior to signing the closing papers. Once the closing is complete buyers can now occupy their new home.
Virtual Homes real estate agents will assist you finding a Beverly MA home for sale that meets all of your real estate needs.

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Beverly, MA Real Estate