Waltham MA Real Estate & Waltham Massachusetts Homes for Sale

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Our Waltham, 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 Waltham 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 Waltham, 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.

Waltham MA Community Profile & History

Waltham, Massachusetts is situated within the Greater Boston area and boasts the second largest office market in the state. The Charles River cuts a path through the southern section of the city; the river has been used throughout history for transport, water, and industry. In recent decades, the Charles River has given way to Route 128 as the main source of commerce.

Originally settled as a part of Watertown in 1636, the city was incorporated separately in 1738. In the early 1800s, Francis Cabot Lowell established the Boston Manufacturing Company, the first integrated textile mill in the United States. One of the first industrialized cities in northern America, Waltham is popularly known as "The Watch City" because of its long association with the watch-making industry. More than 40 million watches, clocks and other timepieces were produced by the Waltham Watch Company between its establishment in 1854 and its closing in 1957. In recent decades, the city has emerged as a major regional center for high-tech industry and commerce; among the most notable companies with offices in the city are Microsoft, Oracle, Hitachi and four Fortune 500 companies: Raytheon, Global Partners, PerkinElmer and ThermoFisher Scientific. In response to rapid commercial growth, several high-end restaurants and hotels have sprung up to serve travelers and the city's thriving business community.

Waltham has a diverse housing stock, with dense multi-family housing in the southern section of the city and larger lot single-family housing in the northern section. Waltham also boasts an assortment of large parks and open-space recreational facilities such as Prospect Hill Park and the Robert Treat Paine Estate. Other popular historic and recreational sites include Gore Place, a country mansion and U.S. National Historic Landmark dating from 1806; the Lyman Estate, also a U.S. National Historic Landmark, dating from 1793; the Charles River Museum of Industry; and the Embassy Cinema, which hosts a wide assortment of independent, foreign-language and Hollywood films. With an aggressive revitalization program, the city is witnessing the rebirth of its historic downtown as it furnishes better public access to the Charles River, its greatest natural resource.

Waltham Massachusetts Community Information

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

Waltham MA Real Estate Information

Condominium Information
Farm Properties
Foreclosures and Short Sales
Land for Sale in Waltham
All Homes for Sale in Waltham 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.

Waltham, MA Real Estate Market Statistics

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

Waltham Single Family Home Sales Trends:

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

2006
89
272
$442389
$270000
$420000
$860000

2007
88
301
$441638
$225000
$407000
$1100000

2008
85
265
$412477
$205000
$396600
$900000

2009
82
235
$414232
$175000
$395000
$1052000

2010
72
265
$406446
$140000
$390000
$931225

Average Selling Price of Single Family Homes in Waltham

2006		$442389
2007		$441638
2008		$412477
2009		$414232
2010		$406446

Waltham Condominum Sales Trends:

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

2006
87
280
$349959
$111000
$352700
$690000

2007
92
283
$349854
$
$362000
$725000

2008
100
211
$324639
$147500
$315000
$575000

2009
91
265
$311728
$125000
$311000
$590000

2010
87
206
$318823
$67500
$317000
$587934

Average Selling Price of Condominiums in Waltham

2006		$349959
2007		$349854
2008		$324639
2009		$311728
2010		$318823

Waltham MA Blog Postings

Waltham MA Homes for Sale

The process of buying a home is both exciting and at the same time can become stressful. It is advisable to utilize the services of real estate related professionals who can represent your interests and assist you in purchasing Waltham MA homes for sale. These professionals include lenders, Realtors, attorneys, home inspectors, accountants, and financial advisors.

A Waltham MA virtual tour and information regarding the home buying and selling process, demographics, commuting, school and relocation information can be found on this site in the appropriate section.

Waltham Home Mortgage Financing

Most home buyers will obtain a mortgage to purchase their home and there are various first-time home buyer financing programs offered by state agencies, local banks and national lenders. A common source for mortgage funding is the FHA (Federal Housing Administration). The major benefits of their programs include low down payment options (can be gifted by a family member), flexible qualifying, assumable mortgages, and rehab financing.

Once you have found a property and submit an offer, the Seller will review the terms and conditions and evaluate your qualifications as a homebuyer. If you are negotiating contingent upon mortgage approval, you must present evidence that your 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 and specific for the Waltham MA home you are bidding on as mortgage standards and rates often change.

The Benefits of Homeownership

The two primary benefits of homeownership are the government tax deductions and solving your housing needs. In many cases, especially for first time homebuyers, you may own a property for less than it costs to rent it. Consult with your tax accountant to understand the true cost of owning a home as mortgage interest and property taxes are deductible costs. Historically low interest rates and a wide variety of affordable inventory make this a great time to buy. Declining values for Waltham MA homes 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.

Finding Waltham Homes for Sale

Consumers in MA 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. An agent can act as a facilitator, a sub-agent, a disclosed dual agent or a Seller's agent. It is important to understand the differences in the representation and what is best for you.

Your real estate agent can assist you in searching for a property listed in the Waltham MA MLS and homes sold by their owners (FSBO). Most property for sale, including Waltham MA foreclosures, bank owned homes and short sales are listed in the MLS. The Virtual Homes MLS map based search tool will provide direct access to all MLS listings and can be found at Waltham MA homes for sale.

Home Inspection

Once you have found a Waltham property and are under contract, exercise your option to obtain a home inspection by a certified inspector. The inspection contingency will allow you to further evaluate the condition and structural integrity of the property. In a home inspection, a qualified inspector takes an in-depth, unbiased look at the property 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. Prior to the actual closing, most buyers schedule a final walk-through with their agent to inspect the property. Once the closing is complete buyers can now occupy their new home.

To assist you in finding a Waltham MA home for sale, please contact Virtual Homes Real Estate.

Waltham MA Condo for Sale

If you are involved in buying a Waltham MA condo, it is important to understand the legal ramifications of this form of ownership. Rules and regulations regarding the sharing of common areas, amenities and the land parcel have been stipulated in the condo docs. A condominium has its advantages but in some cases a specific Waltham condo development may have restrictions that do not fit your lifestyle. To evaluate condos and single family homes for sale, visit Waltham MA real estate.

What is a Condominium

The word condominium describes a form of land ownership and are governed by laws set out in Chapter 183A of the General Laws of Massachusetts and known as the Massachusetts Condominium Act. This act covers the requirements for unit owners and condominium associations including matters related to interests in common areas and facilities, mandatory provisions for the association's by-laws and expenses incurred by the association of unit owners.

Condominiums in Waltham consist of 2 or more units, the interior of which are individually owned. Unit owners share joint ownership of common areas (grounds, hallways, etc.). The master deed is a document that places the land into condominium status and details the ownership structure. If you were to buy a Waltham MA home, you would own the land and the building and could have joint ownership of additional land and improvements. This type of ownership is often referred to as PRD (Planned Unit Development) or PUD (Planned Unit Development).

Each unit owner will own a "percentage of interest in the common areas" as outlined and specified in the master deed. The boundaries of individual ownership and common ownership are also described in the master deed. The typical areas for common ownership other than the land parcel include elevators, hallways, staircases and amenities such as pools and tennis courts. Some areas that are held in common, such as a parking space, balcony or patio, can be designated for exclusive use by one or more unit owners. This typically will include balconies, patios, and assigned parking spaces.

Waltham MA Condo Styles

Garden (flat) - Living area confined to one level.
Townhome - Finished living space on two or more levels.
Detached - Free-standing building (no other unit is located in that same building).
Duplex - Often referred to as a condex with two units that are attached. There may be several duplexes/condexes within a particular complex.
Triple Decker - A triplex unit typically a conversion from a 3 unit apartment building.
Loft - Large open areas with high ceilings that may have been converted commercial or industrial space.
Low Rise Building - A building with primarily garden-style units and no more than 4 levels in the entire building.
Mid Rise Condo - Usually a building between 5-10 stories with retail or commercial mixed uses.
High Rise - May contain garden and townhome units and greater than 4 levels total in the building. High rises are commonly serviced by an elevator.

Management and Associations

Trustee meetings are scheduled per the by-laws and are documented in meeting minutes. The unit owners meet on an annual basis, at a minimum, to ratify the budget, review expenditures, etc.

Monthly Condo Fees

The management and maintenance of the association is determined by the Trustees and ratified by the unit owners as specified in by-laws of the condominium. The monthly fees paid by each unit owner are calculated based on budget and the percentage of each owner's interest in the common area. Special assessment may be necessary to cover expenses that are not in the budget or the reserve funds. Based on the amount of shortfall, this may be charged as a one-time fee or spread out over several months or years.

Rules and Regulations

The Rules and Regulations regarding the use of the condominium and facilities are usually determined and established by the Trustees and may be voted on and changed from time to time by the Unit Owners.

What a Waltham Condo Buyer Should Know

Visit Waltham MA homes for sale to view all condos for sale. If you are thinking of buying a condominium unit, be sure to review:

Condominium Documents - Master Deed, Condominium Trust, etc.

Rules & Regulations - Pets may not be allowed. Can you rent the unit?
Financial Statements - Annual and Current Budget, Delinquency Rate
Capital Reserve Fund - Will FHA approve the fund?
FHA, VA Approval - Is a current approval in place?
Special Assessments - Pending and approved
Management Company - Is there one? Who is it?
Pending Legal Actions - Are there any?
Ownership Concentration - How many units are owner occupied?
Monthly Condo Fee - What does it cover?
Master Insurance Policy - Verify coverage
Annual Meeting Minutes and Trustee Minutes (When Available)

If you are going to buy a Waltham MA condo you should have the documents reviewed by your attorney. Your Waltham Buyer's Agent should also be certain your offer provides for a cancellation should any part of the documents not be acceptable to you.

Importance of Working With a Waltham REALTOR in Your Condo Purchase

Condominium structures and considerations vary by city, state and region. The above is just a general guideline on the most common type of condominiums. Your Waltham REALTOR can provide additional details and educate you on everything that you need to know regarding your condo purchase, including information on co-ops and informal complexes such as converted multi-family buildings. Virtual Homes real estate has a network of experienced REALTORS ready to assist you in purchasing a Waltham MA condo.

Waltham MA Short Sales - Pre-foreclosure Values

As a home buyer looking for value in the purchase of real estate a short sale may be your best option. Buying a Waltham Massachusetts short sale is a difficult and often a frustrating process. To achieve your goal, hire experienced professionals that understand all aspects of the transaction. Expert advice can be provided by real estate agents, attorneys, mortgage brokers, bankers and home inspectors. Visit Waltham MA real estate for tools and resources to evaluate the community.

What is a Short Sale?

Homeowners in financial distress should consider various options, including a short sale, prior to foreclosure. This process may be the best option to preserve their credit and limit their debt exposure. In MA, the laws governing foreclosures provide incentives for lenders to work with homeowners that have financial hardships. The foreclosure process takes time and money and may prove to be more costly to the lender. In April of 2010, the government enacted legislation under the HAFA (Home Affordable Alternatives Program)which provided homeowners and lenders with a streamlined process and incentives to negotiate short sales.

The first step in the process is to negotiate a contract with the homeowner that must be approved by the lender. If the contract is not acceptable to the lender then the Seller may not have sufficient time to sell to another party and avoid foreclosure. The following tips will increase your chances of negotiating a successful Waltham MA short sale.

Are You a Qualified Buyer?

Providing creditable evidence that you can purchase the property is absolutely necessary. The Seller is not likely to accept your offer without a valid credit approval as the lender will not grant approval. Obtain a credit approval from a reputable lender or if a cash buyer provide proof of funds. The approval must not contain conditions such as selling an existing property as this is an issue for the lender. If you are a strong motivated buyer with flexibility in your closing date, you will have greater success in negotiation Waltham short sales.

Indentifying Potential Waltham Listings

Sellers selling short typically have a time-line they must meet to avoid foreclosure. If they have not connected with their lender(s) and started the process, it may not be possible to close before foreclosure. Your real estate agent can identify properties that you may consider. To preview properties currently available go to Waltham MA homes for sale. Additional information our agents will obtain includes:
Is the seller's short sale package prepared for submission to the lender? How many liens are on the property? If more than one, what are they? Is there a plan to obtain releases from all the lien-holders?

Don't take yourself out of the market for a property that has no chance of closing. Consider all properties for sale including Waltham MA short sales and foreclosures.

Offer and Acceptance by the Seller

The first step is to negotiate a contract with the Seller and you will be competing against other contracts. Some real estate agents market the property substantially below market value to entice buyers. Others price the property at the bottom of fair market value. The terms and conditions of your offer can be as important as the offered price. Sellers and lenders prefer offers with fewer contingencies.

Your Deposit - Sellers will not be likely to accept your offer with a low deposit. A buyer that has little to lose can easily pursue another property and "walk away". To demonstrate good faith offer the Seller a strong deposit.

Home Inspection - be prepared to invest the time and money in the home inspection prior to lender approval. A seller can't take the risk of conducting the inspection after lender approval. The buyer can easily "walk" from the home inspection and lenders normally will not approve them.

Flexible Closing Date - once the lender approves the offer, they may require a "quick" closing. You must be prepared to comply if you want to consummate the sale.

Subsequent Offers -As a rule, real estate agents must present all offers. A contract with a higher sales price may have a better chance of being approved by the lender. The lender will give the homeowner direction as to submitting additional offers. Also, be prepared to lock your interest rate thru closing so that your mortgage commitment will be valid.

Lender Approval

Lenders will do their "due diligence" to substantiate the value of the property and have no set formula to determine an acceptable price. However, Freddie Mac (one of the largest secondary market lenders) has a target sales price of 88% of one or more broker price opinions (BOP). Have realistic expectations of the approval process as it may take between 30-180 days and market conditions can change. If the lender and the Seller are participating in the HAFA program, these timelines will be streamlined for a quicker response. In fact, the Lender may have approved a listing price for the property.

Virtual Homes Real Estate agents can assist you with Waltham Massachusetts short sales, foreclosures and MLS listings currently on the market.

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