Daily Real
Estate News | Friday, October 21, 2011

A bill recently  introduced in the Senate proposes that foreigners who spend $500,000 or more on
a residential property should be eligible to obtain a visa that will allow them
to stay in the country.

Several stipulations would be attached to the offer, however. Foreign investors would
need to purchase a primary residence of at least $250,000 but spend at least
$500,000 on residential real estate (another property could be a rental) — and
through cash purchases only. The property would also need to be purchased for
more than its appraised value, and the buyer would need to agree to live in the
home for at least 180 days each year, which means any foreign buyer would be
required to pay U.S. income taxes on any foreign earnings too.

The visa could be renewed every three years, but it would not serve as a way toward
citizenship.

“Many people want to come and live in the United States,” says Sen. Charles
Schumer, D-N.Y., who introduced the legislation this week with Sen. Mike Lee,
R-Utah. “They will be here spending money and paying taxes, and the most
important thing is they’ll sop up the extra supply of homes we have right now
compared to demand, and that’s what’s dragging our economy down.”

Some brokers say that a visa incentive to foreign buyers could potentially even triple sales
in their markets.

“California, Florida, New York, Colorado, Hawaii, and Texas — those states will see a huge
increase in demand,” Sandra Miller, a broker at Engel & Volkers in
Santa Monica, told the Los Angeles Times.

Source: “Bill
Would Encourage Foreigners to Buy U.S. Homes,” Los Angeles Times (Oct. 20, 2011)

the pleasure of a fire on a col winter’s night, it is important to
know how to properly buy and store firewood. For homeowners looking to fuel a
traditional masonry fireplace, fireplace insert, or wood stove, the goal should
be the same: to get the best quality firewood for the best possible price.Before
picking up the phone, it’s important to know exactly what you want to purchase
so that you can clearly express that to the wood seller, this includes
determining the quantity, species, and condition of the firewood, all of which
affect its price.

Seasoning the wood

Freshly cut wood is composed largely of
water. Not only is this “green” wood difficult to ignite, but burning it can
lead to a dangerous buildup of creosote, the cause of chimney fires. Properly “seasoned”
firewood is wood that has been cut to length, split, and allowed to air dry for
at least six months until the moisture content dips to around 20%. Dry wood
will appear grayish in color and the pieces will begin to exhibit splits and
cracks on the ends. Compared to freshly cut wood, seasoned wood feels light for
its size.

Though seasoned firewood is the only choice for immediate use, green wood
shouldn’t be completely ignored. If you have the room to store it and the time
to dry it, buying green firewood can save you up to 25% compared with seasoned
wood,” he says.

Storing firewood

Homeowners should consider storage long
before the firewood delivery truck appears in the driveway. A cord of wood
takes up a significant amount of space, and if not properly stored your
investment will quickly begin to rot. Firewood that is not stowed in a protected
space like a garage or shed needs to be six inches off the ground. Firewood
racks or simple pallets work well. If exposed to the elements, the wood pile
should be at least partially covered with a waterproof tarp. Experts caution
against storing the wood too close to the house for fear of inviting pests.

Average prices

Homeowners can expect to pay $75 to $150 for
a half-cord and between $150 and $350 for a cord of hardwood delivered and
stacked. To save some money, a person with a large truck may elect to pick up
his or her own load at the wood lot.To verify the quantity, species, and
condition of the firewood, it’s wise to arrange the delivery for a time when

you’re home. Experts say, inspect the wood for type and condition before it’s
unloaded, though quantity can only be accurately measured after it’s stacked.

Maximize your fireplace efficiency

It’s true that a traditional wood fireplace can never rival the energy efficiency of a wood stove or even a fireplace insert, but there are ways a
homeowner can trim heat loss. Fire-resistant glass doors not only reduce the
volume of heated home air that escapes up the chimney, they help radiate heat
back into the room. Similarly, a thick cast-iron fireback is an old-fashioned
device that absorbs and emits energy in the form of radiant heat. Check the
fireplace damper for leaks and always tightly seal it when the fireplace is
idle.

60 Mill Street, Westwood

http://www.floorplanonline.com/85506

Westwood was first settled in 1640 and was part of the town of Dedham (it was originally called ‘West Dedham’) until it was officially incorporated in 1897. It was the last town to split from the original town of Dedham.

It was originally to have been named the “Town of Nahatan:”

In July 2005, CNN/Money and Money magazine ranked Westwood 13th on its list of the 100 Best Places to Live in the United States. Boston Magazine listed Gay Street in Westwood on its list of the Best Streets in the Boston area.

[edit] Geography

According to the United States Census Bureau, the town has a total area of 11.1 square miles (28.8 km²), of which, 11.0 square miles (28.4 km²) of it is land and 0.2 square miles (0.4 km²) of it (1.35%) is water.

[edit] Adjacent towns

Westwood is located in eastern Massachusetts, bordered by:

• the town of Needham to the north
• the town of Dedham to the east
• the town of Canton to the southeast
• the town of Norwood to the south
• the town of Walpole to the southwest
• the town of Dover to the west

[edit] Demographics

As of the census^[3] of 2000, there were 14,117 people, 5,122 households and 3,867 families residing in the town. The population density was 1,286.7 people per square mile (496.9/km²). There were 5,251 housing units at an average density of 478.6/sq mi (184.8/km²). The racial makeup of the town was 95.98% White, 0.50% African American, 0.04% Native American, 2.48% Asian, 0.21% from other races, and 0.79% from two or more races. Hispanic or Latino of any race were 0.94% of the population.

There were 5,122 households out of which 36.5% had children under the age of 18 living with them, 67.1% were married couples living together, 6.5% had a female householder with no husband present, and 24.5% were non-families. 22.5% of all households were made up of individuals and 16.4% had someone living alone who was 65 years of age or older. The average household size was 2.73 and the average family size was 3.24.

In the town the population was spread out with 27.8% under the age of 18, 3.4% from 18 to 24, 25.4% from 25 to 44, 24.2% from 45 to 64, and 19.1% who were 65 years of age or older. The median age was 41 years. For every 100 females there were 90.7 males. For every 100 females age 18 and over, there were 85.5 males.

The median income for a household in the town was $87,394, and the median income for a family was $103,242. Males had a median income of $71,801 versus $46,194 for females. The per capita income for the town was $41,553. About 1.3% of families and 2.5% of the population were below the poverty line, including 1.5% of those under age 18 and 5.0% of those age 65 or over.

[edit] Government

The town of Westwood operates under a home rule charter. This means that the town is given a degree of autonomy in regards to internal affairs. The charter mandates a board of selectmen, open town meeting, and executive secretary form of government. Selectmen and other town officials are elected through an open town meeting or formal election; but the board of selectmen appoints secretaries on its own who manage public safety, recreation, and other services. The board calls for an open town meeting (usually yearly) to consider issues beyond the scope of its governance. In many cases the issue is discussed formally among residents and town officials before general voting takes place. The board of selectmen has three members who serve overlapping three-year terms. Patrick Ahearn, Nancy Hyde, and Phil Shapiro are currently Westwood’s selectmen. On April 28, 2009, Hyde ran unopposed, and was elected to her third consecutive three-year term. Ahearn’s term will be up in 2010, Shapiro’s in 2011, and Hyde’s in 2012.

[edit] Education

[edit] Public schools

Westwood has five public elementary schools:

• Deerfield
• Downey
• Paul R. Hanlon (originally Pine Hill)
• Martha Jones
• William E. Sheehan (originally Pond Plain)

Westwood has one public middle school (Edmund W. Thurston), and one public high school (Westwood High School).

A new Westwood High School was recently constructed at a cost of $45M, and the old school, built in 1957, was demolished. The gymnasium and swimming facility from the old school were refurbished and are now part of the new high school campus. The school facilities also include a new multi-use artificial turf field (named after former Westwood High School principal and teacher Charles Flahive) with a synthetic track, both of which are open to the public.

[edit] Private schools

Westwood is home to Xaverian Brothers High School, a Catholic prep school for boys.

[edit] Points of interest

• Hale Reservation – A Home to North Beach, Membership Beach, several walking trails, and other outdoor areas.

[edit] Houses of worship

• First Baptist Church of Westwood, 808 High Street (Association: American Baptist)
• First Parish of Westwood United Church, 340 Clapboardtree Street (Association: United Church of Christ, Unitarian Universalist Association).
• Temple Beth David, 7 Clapboardtree Street (Association: Union for Reform Judaism)
• St. Denis Parish, 157 Washington Street (Association: Catholic Archdiocese of Boston)
• St. John’s Episcopal Church, 95 Deerfield Avenue (Association: Episcopal Diocese of Eastern Massachusetts) stjohnswestwood.org
• St. Margaret Mary Parish, 845 High Street (Association: Catholic Archdiocese of Boston)
• St. Timothy Catholic Church, 650 Nichols Street (Association: Catholic Archdiocese of Boston)

Westwood has an active Interfaith Council.

[edit] Transportation

• Commuter rail service from Boston’s South Station is provided by the MBTA with the Route 128 station on its Providence/Stoughton Line, and the Islington station on its Franklin Line
• Amtrak trains to Providence, New Haven, New York City and Washington DC also stop at the Route 128 station.

[edit] Trivia

• The remains of a cave sit along Route 109, that King Philip and his men hid inside during King Philip’s War. The massive rock that once contained the cave was known as the Oven’s Mouth. It was blown up along with most of the cave in the 1950s to straighten out Route 109.
• Maj. Robert Steele, the Continental Army drummer boy during the Battle of Bunker Hill, is buried in the old Westwood Cemetery off Route 109.
• Westwood is home of the oldest animal pound in the United States.
• Westwood was a dry town until 2005. Restaurants can now apply for liquor licenses.
• Westwood is home to the Hale Reservation, an area of open space donated by Robert Sever Hale. Hale Reservation spans over 1,200 acres (486 ha) in Westwood and Dover, MA.

Seventy-five percent of Americans say that “owning a home is the best long-term investment they can make and is worth the risk of ups and downs in the housing market,” according to a new survey of 2,000 bipartisan voters by the National Association of Home Builders.
Despite their situation — whether underwater on their home or even renters — the survey found Americans to be optimistic about home ownership. Eighty-one percent of those who own their homes outright, 76 percent with mortgages, 67 percent of renters, and 65 percent who have underwater mortgages cited home ownership as the “best long-term investment.”
When survey respondents were asked whether they’d recommend buying a home to a friend or family member just starting out, 80 percent of Americans said “yes.” Even home owners currently underwater — those who owe more on their mortgage than their home is currently worth — overwhelmingly (78 percent) said they would recommend home ownership to family or friends starting out.
More buyers are coming up through the pipeline too. The survey found that 73 percent of those surveyed who do not own a home said their goal is eventually to buy one.
The NAHB survey also found:

▪ 58 percent of Americans oppose eliminating the mortgage-interest deduction and 63 percent oppose lowering it. What’s more, 57 percent of those surveyed say they are less likely to support a candidate for Congress who wanted to eliminate the mortgage-interest deduction.

▪ Respondents were split on about requiring a 20 percent down payment to purchase a home: 49 percent were in favor and 49 percent opposed it. However, mortgage holders and renters aged 18 to 54 were more opposed to it: 58 percent of younger mortgage holders and 59 percent of younger renters opposed adding a 20 percent down payment requirement.

Source: “The Cook Report: The Home Front,”National Journal (June 2, 2011)

Located: On Dedham Avenue near South Street, just up the road from the Public Services Administration Building

Fields for baseball, softball, football, soccer and lacrosse, picnic areas and a track open to the public. Come to play, watch or just have lunch. Kids of all ages will find something to do—there’s even a playground area for the little ones.

Memorial Park

Located: 92 Rosemary St., between Needham High School and Highland Avenue

In the heart of Needham close to the high school, library and local shops and restaurants, Memorial Park is the perfect spot to celebrate big events like Needham High’s graduation or the Fourth of July, hold outdoor concerts such as the Arts in the Park summer series or just sit under a shade tree and relax. Watch teams compete on the track and field, baseball or softball diamonds, read the names of Needham’s brave men and women on the war memorials or enjoy a quiet moment in the shaded garden at the corner of Rosemary Street and Highland Avenue.

Ridge Hill Reservation

Located: 463 Charles River St.

If you want to escape the hustle and bustle and really get in touch with nature, Ridge Hill’s your spot. Quiet, wooded and spacious, the 360-acre park is a great place to walk, picnic or kick around a ball. Find trail maps on the town Web site.

Cutler Park Reservation

Located: There’s a small lot and entrance on Kendrick Street near Fourth Avenue, but the main entrance is at 12 Brainard St. in Hyde Park

It may not look like much from the tiny entrance on Kendrick Street, but Cutler Park contains more than 700 acres of open space through Needham, Dedham and the surrounding area with trails for hiking and mountain biking and areas to launch a canoe or kayak on Kendrick Pond and the Charles River. It’s also a popular spot to walk dogs. Check out the trail map available on the Massachusetts Department of Conservation and Recreation Web site.

Greene’s Field

Located:At the corner of Pickering Street and Great Plain Avenue

Small but mighty, little Greene’s Field offers green space right in the middle of town. Located next to the Senior Center, the park features a playground, grassy area, basketball court and a baseball field where Little Leaguers can often be seen playing.

Ridge Hill contains over 360 acres of conservation land and is managed by the Town of Needham. Various events, including summer camp activities, take place at the reservation.

Parking: Free lot

Features: Athletic fields, Picnic tables

Area: 360 acres

Prices have dropped in many markets, and second-home hot spots that once were out of reach for many buyers have now become more affordable, The Wall Street Journal reports.

For example, a property on Hilton Head Island, S.C., that sold for $1.2 million in June 2006 sold in April 2011 for $750,000. Other big slashes in home prices have made such markets more affordable, and buyers are jumping in: On Palm Beach Island, Fla., sales were up 50 percent in the year ending June 30, and in the Hamptons in New York, transactions were up 59 percent in the second quarter compared to a year earlier.

Several second-home markets are already showing signs of stabilizing; in some, prices are even starting to rise, such as Santa Monica, Calif., and Aspen, Colo.

But some markets are continuing to see prices drop. For example in Miami, Fla., and Martha’s Vineyard, Mass., foreclosed properties are continuing to dampen overall home prices there.

4 Areas With Vacation-Home Bargains

The Wall Street Journal

reports that the following second-home markets continue to have softening prices, but buyers can find plenty of deals.

1. Martha’s Vineyard, Mass.

Median home price: $403,000

Median home price 5 years ago: $638,000

2. Vail, Colo.

Median home price: $385,000

Median home price 5 years ago: $562,000

3. Miami

Median home price: $130,000

Median home price 5 years ago: $302,000

4. Palm Beach, Fla.

Median home price: $254,000

Median home price 5 years ago: $758,000

Source: ”

Vacation Homes: Why It May be a Time to Buy,” The Wall Street Journal (July 23, 2011)

Read more:

Vacation Homes Emerge as Hot Market

Best Cities to Buy a Home