Monthly Archives: October 2022

Salem Halloween Trick-Or-Treat Hours, Safety Tips

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On the Witch City’s busiest night of the year, drivers are urged to be on the lookout for costumed kiddos in residential areas.

Outside of the hustle and bustle of downtown, Salem neighborhood trick-or-treating will take place between 5:30 p.m. to 8 p.m.
Outside of the hustle and bustle of downtown, Salem neighborhood trick-or-treating will take place between 5:30 p.m. to 8 p.m. (Shutterstock)

SALEM, MA — As thousands make their way to the Witch City for Halloween day and night revelry, there is a majority of residents who look forward to a more traditional trick-or-treat experience.

Outside of the hustle and bustle of downtown, neighborhood trick-or-treating will take place between 5:30 p.m. to 8 p.m. During this time, those driving through neighborhoods are urged to be on the lookout for costumed kiddos, while those on the hunt for candy are advised to be careful to stay out of roads and avoid common trips and falls.

“Drive slowly, especially on neighborhood and residential side streets, and be aware that children may cross at many points of the street, including from behind parked vehicles, trees, or sign posts where they may not see your approaching vehicle,” Salem police said.

Those who wish to participate in this year’s trick-or-treat should turn on outside lights. Those who do not want to be part of the party should keep outside lights turned off during trick-or-treat hours.

Among the other trick-or-treat safety tips from Salem police are to plan a route ahead of time, do not eat any candy until it is brought home and inspected by an adult, walk on sidewalks when possible, and walk facing traffic where there are no sidewalks, avoid walking on yards where the terrain is often uneven and falls can happen, carry flashlights or use reflective tape to be better seen and tell children never to enter a strange home or accept a ride from someone they do not know.

Salem also has a “Zero Tolerance Policy” when it comes to drinking and being disorderly in public. Anyone who is served with a Zero Tolerance Order will be banned from all downtown business.

(Scott Souza is a Patch field editor covering Beverly, Danvers, Marblehead, Peabody, Salem and Swampscott. He can be reached at Scott.Souza@Patch.com. Twitter: @Scott_Souza.)

The Emotional and Non-financial Benefits of Homeownership

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With higher mortgage rates, you might be wondering if now’s the best time to buy a home. While the financial aspects are important to consider, there are also powerful non-financial reasons it may make sense to make a move. Here are just a few of the benefits that come with homeownership.

Homeowners Can Make Their Home Truly Their Own

Owning your home gives you a significant sense of accomplishment because it’s a space you can customize to your heart’s desire. That can bring you added happiness.

In fact, a report from the National Association of Realtors (NAR) shows making updates or remodeling your home can help you feel more at ease and comfortable in your living space. NAR measures this with a Joy Score that indicates how much happiness specific home upgrades bring. According to NAR:

“There were numerous interior projects that received a perfect Joy Score of 10: paint entire interior of home, paint one room of home, add a new home office, hardwood flooring refinish, new wood flooring, closet renovation, insulation upgrade, and attic conversion to living area.”

And as a homeowner, unless there are specific homeowner’s association requirements, you typically won’t have to worry about the changes you can and can’t make.

If you rent, you may not have the same freedom. And if you do make changes as a renter, there’s a good chance you’ll need to revert them back at the end of your lease based on your rental agreement. That can add additional costs when you move out.

The Responsibilities of Homeownership Give You a Greater Sense of Achievement

There’s no denying taking care of your home is a large responsibility, but it’s one you’ll take pride in as a homeowner. Freddie Mac explains:

“As the homeowner, you have the freedom to adopt a pet, paint the walls any color you choose, renovate your kitchen, and more. . . . Of course, along with the freedoms of homeownership come responsibilities, such as making your monthly mortgage payments on time and maintaining your home. But as the property owner, you’ll be caring for your own investment.”

You’re not taking care of a living space that belongs to someone else. The space is yours. As an added benefit, you may get a return on investment for any upgrades or repairs you make.

Homeownership Can Lead to Greater Community Engagement

That sense of ownership and your feelings of responsibility can even extend beyond the walls of your home. Your home also gives you a stake in your community. Because the average homeowner stays in their home for longer than just a few years, that can lead to having a stronger connection to your local area. NAR notes how that can benefit you:

“Living in one place for a longer amount of time creates an obvious sense of community pride, which may lead to more investment in said community.”

If you’re looking to put down roots, homeownership can help fuel a sense of connection to the area and those around you.

Bottom Line

If you’re planning to buy a home this year, there are incredible benefits waiting for you at the end of your journey, including the ability to customize your home, the sense of achievement homeownership brings, and a greater connection to your community. Connect with a local real estate professional to discuss everything homeownership has to offer.

 

Saving for a Down Payment? Here’s What You Should Know.

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As you set out to buy a home, saving for a down payment is likely top of mind. But you may still have questions about the process, including how much to save and where to start.

If that sounds like you, your down payment could be more in reach than you originally thought. Here’s why.

The 20% Down Payment Myth

If you believe you have to put 20% down on a home, you may have based your goal on a common misconception. Freddie Mac explains:

“. . . nearly a third of prospective homebuyers think they need a down payment of 20% or more to buy a home. This myth remains one of the largest perceived barriers to achieving homeownership.”

Unless it’s specified by your loan type or lender, it’s typically not required to put 20% down. According to the latest Profile of Home Buyers and Sellers from the National Association of Realtors (NAR), the median down payment hasn’t been over 20% since 2005. There are even loan types, like FHA loans, with down payments as low as 3.5%, as well as options like VA loans and USDA loans with no down payment requirements for qualified applicants.

This is good news for you because it means you could be closer to your homebuying dream than you realize. For more information, turn to a trusted lender.

Down Payment Assistance Programs Can Be a Game Changer

A professional will be able to show you other options that could help you get closer to your down payment goal. According to latest Homeownership Program Index from downpaymentresource.com, there are over 2,000 homebuyer assistance programs in the U.S., and the majority are intended to help with down payments.

A recent article explains why programs like these are helpful:

“These resources can immediately build your home buying power and help you take action sooner than you thought possible.”

And if you’re wondering if you have to be a first-time buyer to qualify for these programs, that’s not always the case. According to an article from downpaymentresource.com:

“It is a common misconception that homebuyer assistance is only available to first-time homebuyers, however, 38% of homebuyer assistance programs in Q1 2022 did not have a first-time homebuyer requirement.”

There are also location and profession-based programs you could qualify for as well.

Bottom Line

Saving for your down payment is an important first step on your homebuying journey. Connect with your Armstrong Field Real Estate advisor and trusted lender today to begin exploring your options.

Home in Salem Massachusetts… during Halloween!

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Halloween in Salem Massachusetts

Halloween characters in Salem MA

As a resident of Salem Massachusetts for over 35 years, I have seen a lot of changes in this small city. One of the biggest changes is in how much Halloween has grown from a one-day event to a month-long celebration with festivals, parties, balls, fairs, and so much more. During October it can be a challenge to drive anywhere near the downtown area, and pretty much impossible on weekends as we get closer to Halloween day. Fortunately, when you’ve lived here for a while you’ll learn about the shortcuts and back roads where you can avoid most of the traffic.

But Salem is so much more than Halloween, witches, ghosts & haunted houses. What Salem is really famous for is its rich history and the architecture of its historic homes. Did you know that in the late 1790 Salem, MA was the richest city in the United States in terms of wealth and the 6th largest in population? Salem was a bustling seaport with ships that brought goods in from all around the world. The first armed resistance against the British in 1775 occurred when British Colonel Alexander Leslie retreated from a gathering of angry citizens on Salem’s North Bridge. The Peabody Essex Museum is America’s oldest continually operated museum.

Salem has many restaurants with some of the finest cuisine north of Boston, along with quaint pubs and other eateries. If you want shopping Salem is the place to come to.

These are just some of the reasons that so many people are looking to buy a home or condo in Salem Massachusetts.

Want to know more about Buying or Selling a home in Salem Massachusetts?
Contact me and my team. My family & I have been helping people buy & sell real estate on the north shore of Massachusetts since 1944.

Jim Armstrong
978-394-6736
jarmstrong@armstrongfield.com

Why Buying a Home May Make More Sense Than Renting

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Some Highlights

  • If you’re trying to decide whether to rent or buy a home, consider the advantages homeownership offers.
  • Buying a home can help you escape the cycle of rising rents, it’s a powerful wealth-building tool, and it’s typically considered a good hedge against inflation.
  • If you’re ready to take advantage of the benefits of homeownership, talk with a trusted real estate professional at www.armstrongfield.com to explore your options.

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