Newton Real Estate Prices by Zip Code

Newton Top Realtor, Compass, Price by Zip Code

Newton by Zip Code

 

                  SF SOLD 2018                                                SF SOLD 2019

ZIP             # UNITS     Average Price                        #UNITS      Average Price      % Change

02458         48              $1,272,000                                      56               $1,287,000          +1%

02459         161              $1,512,000                                    153             $1,625,000        +7%

02460         37               $1,254,000                                      45               $1,150,000         -8%

02461         71               $1,122,000                                      54               $1,281,000        +14%

02462         12               $1,042,000                                      13               $960,000              -8%

02464         11               $752,000                                           8                $880,000            +17%

02465         96               $1,542,000                                     104             $1,338,000         -13%

02466         36               $1,095,000                                      47               $1,255,000         +14%

02467         35               $1,900,000                                      30              $2,455,000           +29%

02468         75               $1,615,000                                      69               $1,661,000           +3%

 

CONDO      2018                                                                      CONDOS 2019

 

02458         55               $870,000                                         70               $801,000                      -8%

02459         37               $971,000                                         38              $1,098,000                   +13%

02460         41               $709,000                                         29               $899,000                      +26%

02461         10               $1,031,000                                      11               $799,000                      -22%

02462         4                $547,000                                            2                $526,000                       -4%

02464         31               $707,000                                         27               $675,000                       -5%

02465         16               $598,000                                         20              $961,000                       +65%

02466         17               $695,000                                         23               $740,000                      +06%

02467         63               $796,000                                          66               $686,000                      -13%

02468         5                 $1,279,000                                      11               $1,360,000                     -6%

 ALL OF NEWTON

SF              581             $1,421,000                                      580             $1,462,000                    +3%

CONDO    268                $809,000                                       298             $837,000                       +3% 

If you’d like to dive deeper into these numbers, do reach out to us.  Condition, location in a particular code, and lot size all come into play.   Smaller villages usually see a wider fluctuation due to volume.

 

 

 

 

 

Open House:5 Richfield Road, West Newton, Sunday, 2/10 from 12:30-2

Newton Top Realtors, Sotheby’s, Compass, Homes for Sale

5 Richfield Road

Upsize, downsize or rightsize to this stylish and elegant Arts and Crafts completely renovated in 2012 with an amazing 1ST FLOOR MASTER SUITE! This sophisticated four-bedroom, 4 1/2 bath home features an open and airy layout. The spacious main level offers an ultra-chic living room with a fireplace, gracious dining room, and chef’s kitchen open to breakfast/family room. The kitchen boasts Miele and Sub Zero appliances, with direct access to a covered mahogany porch. A first-floor master bedroom suite encompasses his and her bathroom, walk-in closet, an additional closet, laundry, and linen closet. The second floor consists of three very spacious bedrooms, two full baths, linen closet, and a second laundry room. Finished LL features a media room with custom bookshelves, full bath, office, and storage. The architect-designed 2012 renovation includes a second-floor addition while baths, systems, roof, windows, and sound system were replaced. Conveniently located to Pike, Commuter Rail, shopping, WN Square, and Newtonville.  Designed by Architect, Kent Duckham.

Home Prices Increase in Every Price Range

NEWTON, MA. REAL ESTATE, TOP BROKERS IN NEWTON, MA. COMPASS, SOTHEBY’S

CoreLogic’s Home Price Index (HPI) Report revealed,

“National home prices increased 3.6% year over year in July 2019 and are forecast to increase 5.4% from July 2019 to July 2020.”

They also analyzed four individual home-price tiers, showing the increase in each.

Here’s the breakdown:

To clarify the methodology, CoreLogic explains,

“The four price tiers are based on the median sale price and are as follows: homes priced at 75% or less of the median (low price), homes priced between 75% and 100% of the median (low-to-middle price), homes priced between 100% and 125% of the median (middle-to-moderate price) and homes priced greater than 125% of the median (high price).”

What does this mean if you’re selling?Price appreciation can differ depending on your price range. If you’re a homeowner thinking of selling, let’s get together to find out how much your home is increasing in value, so you can price it competitively for today’s market.

CALL ME AT 617.921.6860 OR margaret@compass.com

Housing Supply Not Keeping Up with Population Increase

Newton, MA Top Realtors. Newton and Brookline Real Estate, Compass, Sotheby’s

Many buyers are wondering where to find houses for sale in today’s market. It’s a true dilemma. We see an increase in buyer demand, but the supply available for purchase isn’t keeping up.

The number of new housing permits issued prior to the great recession increased for 15 years until 2005 (from 1.12 million in 1990 to a pre-recession peak of 2.16 million in 2005). According to Apartment List,

“From 1990 to 2005, the number of single-family permits issued more than doubled, while the number of multi-family permits grew by 49 percent.”

When the housing market crashed, the number of new homes permitted decreased to its lowest level in 2009 (see below):Since then, supply and demand have been out of balance when it comes to new construction. According to the same report,

“Construction of single-family homes has recovered much more slowly — the number of single-family housing units permitted in 2018 was barely half the number permitted in 2005.”

Why is new construction so important?

As the U.S. population increases, there is also an increase in the need for new homes. Today, new construction is not keeping up with the increase in the nation’s population. The report continues:

“The total number of residential housing units permitted in 2018 was roughly the same as the number permitted in 1994, when the country’s population was 20 percent less than it is today.”

Essentially, the dip in home building coupled with the steadily increasing U.S. population means there is now a selling opportunity for homeowners willing to list their current houses.

Bottom Line

If you’re considering selling your home to move up, now is a great time to get a positive return on your investment in a market with high demand. Let’s get together to determine the specific options available for you and your family.

Is Renting Right for Me?

Newton, MA. Real Estate, Top Broker in Newton, Compass, Sotheby’s

If you’re currently renting and have dreams of owning your own home, it may be a good time to think about your next move. With rent costs rising annually and many helpful down payment assistance programs available, homeownership may be closer than you realize.

According to the 2018 Bank of America Homebuyer Insights Report, 74% of renters plan on buying within the next 5 years, and 38% are planning to buy within the next 2 years.

When those same renters were asked why they disliked renting, 52% said rising rental costs were their top reason, and 42% of renters believe their rent will rise every year. The full results of the survey can be seen below:It’s no wonder rising rental costs came in as the top answer. The median asking rent price has risen steadily over the last 30 years, as you can see below.There is a long-standing rule that a household should not spend more than 28% of its income on housing expenses. With nearly half of renters (48%) surveyed already spending more than that, and with their rents likely to rise again, it’s never a bad idea to reconsider your family’s plan and ask yourself if renting is your best angle going forward. When asked why they haven’t purchased a home yet, not having enough saved for a down payment (44%) came in as the top response. The report went on to reveal that nearly half of all respondents believe that “a 20% down payment is required to buy a home.”

The reality is, the need to produce a 20% down payment is one of the biggest misconceptions of homeownership, especially for first-time buyers. That means a large number of renters may be able to buy now, and they don’t even know it.

Bottom Line

If you’re one of the many renters who are tired of rising rents but may be confused about what is required to buy in today’s market, let’s get together to determine your path to homeownership.
« The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC]

4 Tips for Making a Competitive Offer

Newton, MA. Real Etstate, Compass, Sotheby’s Suburban Boston Team #Top Realtor

So, you’ve been searching for that perfect house to call ‘home,’ and you’ve finally found it! The price is right, and in such a competitive market, you want to make sure you make a good offer so that you can guarantee that your dream of making this house yours comes true!

Below are 4 steps provided by Freddie Mac to help buyers make offers, along with some additional information for your consideration:

1. Determine Your Price

“You’ve found the perfect home and you’re ready to buy. Now what? Your real estate agent will be by your side, helping you determine an offer price that is fair.”

Based on your agent’s experience and key considerations (like similar homes recently sold in the same neighborhood or the condition of the house and what you can afford), your agent will help you to determine the offer that you are going to present.

Getting pre-approved will not only show home-sellers that you are serious about buying, but it will also allow you to make your offer with confidence because you’ll know that you have already been approved for a mortgage in that amount.

2. Submit an Offer

“Once you’ve determined your price, your agent will draw up an offer, or purchase agreement, to submit to the seller’s real estate agent. This offer will include the purchase price and terms and conditions of the purchase.”

Talk with your agent to find out if there are any ways in which you can make your offer stand out in this competitive market! A licensed real estate agent who is active in the neighborhoods you are considering will be instrumental in helping you put in a solid offer.

3. Negotiate the Offer

“Oftentimes, the seller will counter the offer, typically asking for a higher purchase price or to adjust the closing date. In these cases, the seller’s agent will submit a counteroffer to your agent, detailing their desired changes, at this time, you can either accept the offer or decide if you want to counter.

Each time changes are made through a counteroffer, you or the seller have the option to accept, reject or counter it again. The contract is considered final when both parties sign the written offer.”

If your offer is approved, Freddie Mac urges you to “always get an independent home inspection, so you know the true condition of the home.” If the inspector uncovers undisclosed problems or issues, you can discuss any repairs that may need to be made with the seller or even cancel the contract altogether.

4. Act Fast

The inventory of homes listed for sale has remained well below the 6-month supply that is needed for a ‘normal’ market. Buyer demand has continued to outpace the supply of homes for sale, causing buyers to compete with each other for their dream homes.

Make sure that as soon as you decide that you want to make an offer, you work with your agent to present it as quickly as possible.

Bottom Line

Whether buying your first home or your fifth, having a local real estate professional who is an expert in his or her market on your side is your best bet in making sure the process goes smoothly. Let’s talk about how we can make your dream of homeownership a reality!

A Tale of Two Markets

Newton,MA, Compass, Sotheby’s #Suburban Boston Team #TopRealtor

Some Highlights:

• An emerging trend for some time now has been the difference between available inventory and demand in the premium and luxury markets and that in the starter and trade-up markets and what those differences are doing to prices!
• Inventory continues to rise in the luxury and premium home markets which is causing prices to cool.
• Demand continues to rise with lower-than-normal inventory levels in the starter and trade-up home markets, causing prices to rise on a year-over-year basis for 85 consecutive months.

Home Buyers are Optimistic About Homeownership!

Newton, MA. Brookline, Sotheby’s Compass Suburban Boston Team #TopRealtor

Home Buyers are Optimistic About Homeownership!

When we consider buying an item, we naturally go through a research process prior to making our decision. We ask our friends and family members who have made similar purchases about their experience, we get opinions and insights, and we read reviews online. There’s no difference when considering a home purchase!

Most homebuyers start by listening to the news to hear what is being said about the real estate market. They check with family and friends about their experience. They spend time online reading reviews about their desired neighborhood.

The challenge is that comments from the news and those closest to us can contradict the data and reports. One source says one thing, while another source says something completely different.

There is a group of homebuyers that are not allowing comments about an upcoming recession to interfere with their decision to buy a home. According to a survey by realtor.com®,

“Nearly 70 percent of home shoppers this spring think the U.S. will enter a recession in the next three years, but that hasn’t stopped them from trying to close on a home…Despite the fact that they foresee an economic downturn, they generally expressed confidence that a future recession will be better than 2008 for the housing market.”

The report provides more insights from the survey:

• Nearly 30% of the active home shoppers* surveyed expect the next recession to begin sometime in 2020.
• 56% of shoppers believe home prices have hit their peak.
• 41% believe housing will fare better than 2008.
• 45% of home shoppers feel at least slightly more optimistic about homeownership.
• 33% reported no impact on their feelings about homeownership.

Homebuyers are aware and making decisions with their eyes wide-open. As the report mentioned,

“The fact that some [36%] home shoppers expect the next recession to be harder on the housing market than the last recession suggests that they are buying homes with eyes wide-open and very sober, if not slightly pessimistic, views of the housing market.

This is a stark contrast to the years leading up to the last recession when ‘irrational exuberance’ was more common and yet another reason to expect that the next downturn will be very different for the housing market than the last.”

Bottom Line

If you are considering buying a home, let’s get together to help you understand our local market and determine if buying a home is the right choice for you now.

*Active home shoppers are those consumers who responded that they plan to purchase their next home in 1 year or less.

 

Newton and Brookline Real Estate Recap

Newton, MA. Brookline, Sotheby’s Compass, Suburban Boston Team

 

The Rundown

Spring events in Brookline are in full bloom and Newton passes another law on going green. We’re also taking a closer look at the local real estate market. Keep reading to learn more about what’s coming to your neighborhood in May!

New & Noteworthy

Five Tips for First-Time Homebuyers Spring can be the perfect time for first-time home buyers to begin their search. Read up on some tips on how to navigate the marketplace here.

Brookline Single-Family Home Prices Proven to Increase No need to worry about value when buying a home in Brookline. Brookline saw single-family prices increase between 2005’s market peak and 2011’s bottom. Learn more about some of the top spots to buy in Greater Boston here.

Newton Bans Plastic Stirrers and  Polystyrene Food Containers Newton passed a law that will ban restaurants from the use of plastic stirrers and polystyrene to-go containers. The ban will be effective as of January 2020. Learn more about how Newton is going green here.

Market Snapshot

Nesting

Etsy’s 2019 Home Decor Trends Will Have You Inspired  Etsy has declared 2019 the year of maximalism–think statement home decor accents, bold patterns, and vibrant hues. Read all about the latest trends here on Elle Decor.

3 Ways to Give Your Bed a Much-Needed Spring Refresh You’ll spend a third of your life sleeping, so it’s important to keep your bed in tip-top shape. Learn how to properly care for your mattress, bedding, and pillows here on Apartment Therapy.

Mark Your Calendar

The Shop on Washington Mother’s Day Pop-up | May 2-5 and 8-11 A special Mother’s Day pop-up shop is coming to Newtonville for two weekends in May. The shop will feature a variety of locally-based brands for gifting. Check out the schedule of workshops and events here.

ART Off The Wall | May 11 The fifth annual ART Off The Wall is returning to Brookline this spring. The event features works by artists who support the mission of the Brookline Arts Center. Learn more about the participating artists and purchase your tickets here.

Brookline Cherry Blossom Festival |  May 18  The Brookline Cherry Blossom Festival began as a celebration to honor the donation of cherry trees to Brookline High School from the Consul of Japan. The annual event features food, games, and music for the whole family. View the schedule of events for the day here.

Featured Listings

158 Prince Street West Newton The finest example of a Queen Anne on coveted West Newton Hill Priced at $3,600,000

Margaret Szerlip 617.921.6860   margaret@compass.com

© Compass 2019 ¦ All Rights Reserved by Compass ¦ Made in NYC Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in

What Would Make You Sell Your House?

Newton, MA. Newton Top Realtor, Sotheby’s, COMPASS, Suburban Boston Team

What Would Make You Sell Your House?

There are many reasons why a homeowner decides to sell their house and move. The latest Generational Trends Report from the National Association of Realtors asked recent home sellers to share their reason for moving.

The younger the respondents, the more likely their top response centered around needing a larger home (ages 29 to 53). Relocating for a job was the top reason for those ages 54 to 63 and the second most popular response for those under 53. The chart below shows the breakdown for these two reasons.

For homeowners over the age of 64, wanting to be closer to friends and family served as the top motivator to move. Downsizing to a smaller home or moving due to retirement came in as a close second and third.

Have you outgrown your current house? Are you a homeowner who can relate to wanting to be closer to family and friends? Is your house becoming a burden to clean now that the kids have moved out?

Bottom Line

Let’s get together to set you on the path to selling your current house and finding the home that fits your needs, today!

 

Buyer Demand Surging as Spring Market Begins

Newton, MA, Compass, Sotheby’s Newton’s Top Brokers

Buyer Demand Surging as Spring Market Begins

Last fall, some predicted that the 2019 residential real estate market would be a disaster. There was even belief we might experience a housing crash like the one that occurred during the last decade.

However, according to two separate reports*, buyer demand dramatically increased over the last three months, leading into this spring buyers’ market (the March data is not yet available).

Both the ShowingTime Showing Index and the National Association of REALTORS Buyer Traffic Index show that buyer demand has increased in each of the last three months.

Why the increase in demand? Increased buying power.

According to the National Association of Realtors’ Economists’ Outlook Blog, purchasing a home has become more affordable, which has led to increased demand.

“Due to the combination of falling home prices and mortgage rates, the income needed to make an affordable mortgage payment (mortgage no more than 25% of income) on a median-priced home with 10% down payment and 30-year fixed rate mortgage decreased from $60,425 in June 2018 to $53,783 as of February 2019, and the difference of $6,642 represents a gain in buying power because one can afford a home purchase at a lower level of income.”

Bottom Line

It appears the spring buyers’ market is going to be much stronger than many had projected. Whether you are selling or buying, this is important news.

 

*The methodology behind the indices:

The ShowingTime Showing Index

“The ShowingTime Showing Index® tracks the average number of buyer showings on active residential properties on a monthly basis, a highly reliable leading indicator of current and future demand trends.”

The National Association of REALTORS® Buyer Traffic Index

“In a monthly survey of REALTORS®, NAR asks respondents ‘Compared to the same month last year, how would you rate the past month’s traffic in neighborhood(s) or area(s) where you make most of your sales?’ NAR compiles the responses into an index, where an index above 50 indicates that more respondents reported “stronger” traffic than “weaker” traffic.”

Sampling Newton’s Restaurants

Newton, MA.  Compass, Sotheby’s Newton’s Top Realtors

Discover the best restaurants in Newton for pizza, ramen, brunch, and more

Moldovan food? Newton has it.

A side of meatballs at Fiorella’s in Newton. –Justin Saglio

By

Erin Kuschner

Boston.com

8:57 AM

A leisurely trip from Boston on the Green Line, Newton may not at first seem like a suburb to visit for Moldovan food. But it is — along with classic Neapolitan pizza, Chilean cuisine, and steaming bowls of ramen. The next time you find yourself in Newton Centre, Newton Highlands, and other Newton villages, head to one of these fantastic restaurants, which make up the area’s globally diverse cuisine.

Buttonwood
A May 2018 kitchen fire caused this Newton Highlands neighborhood eatery to close for 10 months, but it has triumphantly returned with its entire staff (led by the team behind Sycamore and Little Big Diner) and many of its beloved menu items, including the BW cheeseburger, pork schnitzel, and a slew of Mediterranean-inspired grilled dishes. The cocktails are nothing to scoff at, either: Try the Crimson King, made with rye, ginger-maple syrup, lemon, and angostura bitters. (51 Lincoln St.)

An order of crispy chicken drumsticks at Comedor. —Justin Saglio for The Boston Globe

Comedor
At Comedor, a colorful and inviting bar and restaurant in Newton Centre, Chilean soul food takes center stage in the form of chili-glazed pork ribs, papas fritas, and Spanish octopus with roasted root vegetables. It’s a popular spot for brunch, too, with homemade doughnuts and a nap-inducing s’mores French toast with chocolate ganache. (105 Union St.)

Dunn Gaherin’s
It’s not easy to find an Irish pub in the Boston area that serves both great beer andfantastic food, but Dunn Gaherin’s — fun to say, even better to visit — is one of the exceptions. Inside the quirky space, customers tuck into plates of steak tips and gravy-drenched meatloaf (stop by on Fridays and Saturdays for the shepherd’s pie special). Imported and local brews flow from the taps, including the necessary Guinness. (344 Elliot St.)

Gnocchi at Fiorella’s. —Justin Saglio

Fiorella’s
At Fiorella’s in Newtonville, you’ll find the types of Italian food that can cause sudden cravings at unsuspecting moments: chicken parmigiana, shrimp scampi, four-layered lasagna. A hefty salad section is ideal for the lunch crowd (and includes everything from chopped Italian salad to a roasted beets and arugula bowl), and desserts are ideal for, well, anytime — especially if your order involves the peanut butter ice cream pie. (187 North St.)

The Landing Pizza & Kitchen
This Newton newcomer has only been open for a few months, but pizza fans are already raving about the pies here. Owner Massimo Ottani is certified in making traditional Neapolitan pizza, and his training shows: Thin-crust dough is topped with fresh ingredients that range from sweet sopressata and anchovies to potato. Oven-baked focacce sandwiches and calzones are also on the menu, but you’d be remiss if you skipped out on Ottani’s exceptional pizza. (223 Adams St.)

The spicy miso ramen at Little Big Diner. —Suzanne Kreiter

Little Big Diner
For a soul-warming bowl of ramen, Little Big Diner is the go-to spot in Newton. The tiny lunch and dinner hangout serves brown rice bowls, poke, and shared appetizers, but it’s the ramen that draws in locals, from traditional miso or shoyu ramen to the spicy tan tan ramen, a take on tantan mien with both chashu pork and chili ground pork. (1247 Centre St.)

The takeout family meal of roast whole chicken, salad, grilled broccoli, potatoes, other vegetables, and cookies at Lumiere. —Suzanne Kreiter/Globe Staff

Lumiere
As one of Newton’s more upscale restaurants, Lumiere excels at on-point service and expertly executed French fare. Chef Jordan Bailey focuses on approachable classics like an herb-roasted half chicken, steak frites, and smoked fish pate, but if you really want to put your faith in Bailey, go for the chef’s whim tasting menu: five blind courses with the option to pair with wine. The kitchen also offers a family meal, a takeout dinner meant to feed two adults and two children. (1293 Washington St.)

Max & Leo’s
Emotions run rampant when discussing the quality of pizza in the Boston area, but Max & Leo’s delivers on both great pies and a family-friendly atmosphere. The sibling-owned pizzeria, which also has locations in Sudbury and the Fenway, allows you to build your own pie or choose from one of the custom pizzas — the Steve’s Old Fashioned is an exercise in refined simplicity, made with fresh mozzarella, slices of tomato, fresh basil, and garlic-infused extra virgin olive oil. (325 Washington St.)

A pie with savory filling at Moldova. —Suzanne Kreiter/Globe staff

Moldova
Moldovan cuisine takes inspiration from its surrounding neighbors — Romania, Ukraine, Turkey, Bulgaria — and you’ll find a little bit of all of these influences at Moldova, a colorful cafe on Watertown Street. Serving brunch, lunch, and dinner, the menu includes dishes like Platou Moldovenesc, a mix of scrambled eggs, your choice of meat, hash browns and polenta; as well as sarmale, which are hand-rolled cabbage and grape leaves stuffed with rice, chicken, and herbs. (344 Watertown St.)

Sycamore
Seasonal fare dictates the menu at Sycamore, a neighborhood bistro where crispy Rhode Island squid and mushroom lasagna are listed alongside a Colorado lamb board for two. Bring a friend (or a date) and settle in to the brick-walled space, where a small, cozy bar serves beer, wine, and craft cocktails. (755 Beacon St.)

 

Home Buyer Demand Will Be Strong for Years to Come

Newton, MA. Compass, Sotheby’s Newton’s Top Brokers, Real Estate, Greater Boston

There has been a lot written about millennials and their preference to live in city centers above their favorite pizza place. Some have even gone so far as to say that millennials are a “Renter-Generation”.

And while this might be true for some millennials, more and more research has surfaced that shows for the vast majority, owning a home is a major part of their American Dream!

New research shows that 66% of millennials who currently rent are determined to buy a home! Seventy-three percent of those surveyed by

Pulsenomics plan to buy a home in the next five years, with 40% planning to do so within the next two years!

“Millennials want to own a home as much as prior generations,” Ali Wolf, Director of Economic Research at Meyers Research says. “We saw millennial shoppers scooping up homes in 2018—and 2019 will be no different.”

Bottom Line

Are you one of the millions of renters who are ready and willing to buy a home? Let’s get together to determine your ability to buy now!

Name(required)

Email(required)

Website

Message

Submit

Δ

Why Has Housing Supply Increased as Sales Have Slowed Down?

Newton, MA. Real Estate, Compass, Newton Top Brokers, Sotheby’s

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the inventory of homes for sale this year compared to last year has increased for the last four months, all while sales of existing homes have slowed compared to last year’s numbers.

For over three years leading up to this point, the exact opposite was true; Inventory dropped as sales soared.

NAR’s Chief Economist Lawrence Yun shed some light on what could be contributing to this shift,

“This is the lowest existing home sales level since November 2015. A decade’s high mortgage rates are preventing consumers from making quick decisions on home purchases. All the while, affordable home listings remain low, continuing to spur underperforming sales activity across the country.”

Let’s take a deeper look:

Interest Rates

Since January, 30-year fixed mortgage interest rates have increased nearly a full percentage point (from 3.95% to 4.9%). Fannie Mae, Freddie Mac, the National Association of Realtors, and the Mortgage Bankers Association are all in agreement that rates will continue to increase to about 5.2% over the next 12 months.

“The rise in [mortgage] rates paired with this very strong price appreciation absolutely is slowing housing,” said Fannie Mae’s Chief Economist Doug Duncan.

Even though rates are higher than they’ve been in a decade, they still remain below the average for the 1970s, 80s, 90s, and 2000s!

Mismatch of Inventory

Elizabeth Mendenhall, President of NAR, said it best, “Despite small month over month increases, the share of first-time buyers in the market continues to underwhelm because there are simply not enough listings in their price range.”

Prices of starter and trade-up homes have appreciated faster than their higher-priced counterparts. Over the last 5 years, the lowest-priced homes have appreciated by 47% while the highest-priced homes have appreciated by only 24%.

According to the Institute of Luxury Home Market’s Luxury Market Report, the $1M-and-up price range is now experiencing a buyer’s market. This means that supply (inventory) has finally caught up with demand and buyers are in the driver’s seat when it comes to negotiations. Additionally, many listings in this price range have experienced price cuts in order to entice buyers to put in offers.

Bottom Line

Additional inventory coming to market could help normalize the housing market and allow incomes to catch up to home prices. For more information about sales and inventory in our area, let’s get together so we can help you make the best decision for you and your family.

Use the buttons below to share with your Personalization Profile…

       

« 5 Tips When Buying a Newly Constructed Home

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Search

Is Newton Heading Towards A Buyer’s Market?

Newton, MA. Top Broker, Newton, MA. real estate, Compass, Sotheby’s

Is Newton Heading to A Buyer’s Market?

The real estate market in Newton is starting to feel a bit different.  New things are coming to market and homes are going under agreement but it all seems — different.’

We’ve listed 3 properties in the past month and happily had over asking offers, some substantially over asking.  4 of our buyers purchased properties this month. One purchased 100k under asking, one 6o under asking and one at asking.  All of these wold be considered hot properties and yet none had multiple offers.  I’ve decided to dig into the numbers and see what I can decipher.

This is the market as of today:

ON Market                                      Average Price                            Days on Market

130 single families                          $2,091,980                                          101

59 Condos                                           $948,146                                         64

 

UNDER AGREEMENT

61 single families                            $1,449,334                                            32

19 condos                                          $726,809                                             27

 

SOLD

38 single families                                $1,249,858                                    29

16 condos                                             $650,000                                       34

 

These numbers tell a story.  The average list price at $2,091, 980 is 40% higher than the average sold price of $1,249,858. It took an average of 29 days to sell vs. the 100 days for the current unsold inventory.  This is a supply and demand business and when new inventory outpaces under agreements a declining market is usually forecasted.  I do not expect to see a significant drop in prices but there will be pushback on price which we are already seeing.  Mortgage rates are up about a 1/2 point and another rate increase is expected before year-end. These increases affect the below 1.2 million dollar buyer the most.

My advice is to seek a Realtor who understands the market trends and acts before everyone else.  You do not want to chase the market down.

Margaret Szerlip 617.921.6860

 

 

 

 

Newton Home Prices Have Appreciated 8.4% vs. a Gain of 6.9% Nationally.

Newton, MA. Newton Top Broker, Compass, Sotheby’s

Newton Home Prices Have Appreciated 8.4% in 2018.

Between 1987 and 1999, which is often referred to as the ‘Pre-Bubble Period,’ home prices grew at an average of 3.6% according to the Home Price Expectation Survey.

Every month, the economists at CoreLogic release the results of their Home Price Insights Report, which includes the actual year-over-year change in prices across the country and their predictions for the following year.

The chart below shows the forecasted year-over-year prices for 2018 (predictions made in 2017). According to their predictions, the average appreciation over the course of 2018 should be 4.8%, which is still greater than the ‘normal’ appreciation of 3.6%.

If we layer in the actual price appreciation that has occurred this year, we can see that over the course of 2018, home prices have appreciated by an average of 6.9% and have outpaced projections all year!

What does this mean?

The tale of today’s real estate market is one of low inventory, high demand, and rising prices. The forces at work can be simply explained with the theory of supply and demand. That being said, if a large supply of inventory were to come to the market, prices may start to appreciate closer to the forecasted rate which would STILL be greater than the historic norm!

Bottom Line

If you are a homeowner whose house no longer meets your needs, now may be a great time to list your home and capitalize on the equity you have gained over the last year to make a significant down payment on your next home!

Home Sales Expected to Continue Increasing in 2019

Newton’s Top Broker, Newton, MA. real estate, Compass, Sotheby’s

Freddie Mac, Fannie Mae, and the Mortgage Bankers Association are all projecting that home sales will increase nicely in 2019. Below is a chart depicting the projections of each entity for the remainder of 2018, as well as for 2019.

As we can see, Freddie Mac, Fannie Mae, and the Mortgage Bankers Association all believe that homes sales will increase steadily over the next year. If you are a homeowner who has considered selling your house recently, now may be the best time to put it on the market.

Use the buttons below to share with your Personalization Profile…

       

« Rent or Buy: Either Way You’re Paying A Mortgage!Top 3 Myths About Today’s Real Estate Market »

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Search

Boston’s 10 most expensive one-bedroom condos start at $1.35M

Newton, MA. real estate, Newton’s Top Brokers, Sotheby’s Compass

Boston’s 10 most expensive one-bedroom condos start at $1.35M

Half are in just two buildings: 50 Liberty and the W Boston

Is this the reason there is a lack of inventory in the burbs?  Downsizers cannot afford these prices, therefore, they are unable to list their property.

50 Liberty under construction in December 2016. 

Dan Logan/Shutterstock

Half of Boston’s 10 most expensive one-bedroom condos as of late July are in just two buildings: The newish 50 Liberty in the Seaport District and the older W Boston at 110 Stuart Street in the Theatre District.

In general, these 10 priciest one-bedrooms range from $1.35 million to $2.5 million, according to real estate research site NeighborhoodX. The units range in size from 878 square feet to 1,398 square feet.

“Given that the square footage for these properties is relatively modest, the asking prices are driven by relatively high prices per square foot,” NeighborhoodX research director Constantine Valhouli said over email. “These range from $1,246 a foot (1 Charles Street South, #3 in Back Bay) to $1,853 a foot (50 Liberty Drive, #6D in the Seaport).”

https://www.neighborhoodx.com/embed_apartment_listings/index?value=price&city=Boston%2010%20Most%20Expensive%201BR%20condos_range_July2018

Home Prices: The Difference 5 Years Makes

First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers, Pricing, Newton, MA, Real Estate, Newton’s top Brokers, Compass, Sotheby’s

The economists at CoreLogic recently released a special report entitled, Evaluating the Housing Market Since the Great Recession. The goal of the report was to look at economic recovery since the Great Recession of December 2007 through June 2009.

One of the key indicators used in the report to determine the health of the housing market was home price appreciation. CoreLogic focused on appreciation from December 2012 to December 2017 to show how prices over the last five years have fared.

Frank Nothaft, Chief Economist at CoreLogic, commented on the importance of breaking out the data by state,

“Homeowners in the United States experienced a run-up in prices from the early 2000s to 2006, and then saw the trend reverse with steady declines through 2011. After finally reaching bottom in 2011, home prices began a slow rise back to where we are now.

Greater demand and lower supply – as well as booming job markets – have given some of the hardest-hit housing markets a boost in home prices. Yet, many are still not back to pre-crash levels.”

The map below was created to show the 5-year appreciation from December 2012 – December 2017 by state.

Nationally, the cumulative appreciation over the five-year period was 37.4%, with a high of 66% in Nevada, and a modest increase of 5% in Connecticut.

Where were prices expected to go?

Every quarter, Pulsenomics surveys a nationwide panel of over 100 economists, real estate experts, and investment and market strategists and asks them to project how residential home prices will appreciate over the next five years for their Home Price Expectation Survey (HPES).

According to the December 2012 survey results, national homes prices were projected to increase cumulatively by 23.1% by December 2017. The bulls of the group predicted home prices to rise by 33.6%, while the more cautious bears predicted an appreciation of 11.2%.

Where are prices headed in the next 5 years?

Data from the most recent HPES shows that home prices are expected to increase by 18.2% over the next 5 years. The bulls of the group predict home prices to rise by 27.4%, while the more cautious bears predict an appreciation of 8.3%.

Bottom Line

Every day, thousands of homeowners regain positive equity in their homes. Some homeowners are now experiencing values even higher than before the Great Recession. If you’re wondering if you have enough equity to sell your house and move on to your dream home, contact a local real estate professional who can help!

Should I Stay or Should I Go?

Newton,MA. Realtors, Sotheby’s, Compass, Top Agents in Newton

Will Your Current House Fit Your Needs in Retirement?

As more and more baby boomers enter retirement age, the question of whether or not to sell their homes and move will become a hot topic. In today’s housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home’s ability to adapt to your needs in retirement.

According to the National Association of Exclusive Buyers Agents(NAEBA), there are 7 factors that you should consider when choosing your retirement home.1

1. Affordability

“It may be easy enough to afford your home today but think long-term about your monthly costs. Account for property taxes, insurance, HOA fees, utilities – all the things that will be due whether or not you have a mortgage on the property.”

Would moving to a complex with homeowner association (HOA) fees actually be cheaper than having to hire all the contractors you would need to maintain your home, lawn, etc.? Would your taxes go down significantly if you relocated? What is your monthly income going to be like in retirement?

2. Equity

“If you have equity in your current home, you may be able to apply it to the purchase of your next home. Maintaining a healthy amount of home equity gives you a source of emergency funds to tap, via a home equity loan or reverse mortgage.”

The equity you have in your current home may be enough to purchase your retirement home with little to no mortgage. Homeowners in the US gained an average of over $16,300 in equity last year.

3. Maintenance

“As we age, our tolerance for cleaning gutters, raking leaves and shoveling snow can go right out the window. A condominium with low-maintenance needs can be a literal lifesaver, if your health or physical abilities decline.”

As we mentioned earlier, would a condo with an HOA fee be worth the added peace of mind in knowing that you do not have to do the maintenance work yourself?

4. Security

“Elderly homeowners can be targets for scams or break-ins. Living in a home with security features, such as a manned gate house, resident-only access and a security system can bring peace of mind.”

As scary as that thought may be, any additional security and an extra set of eyes looking out for you always adds to peace of mind.

5. Pets

“Renting won’t do if the dog can’t come too! The companionship of pets can provide emotional and physical benefits.”

Evaluate all of your options when it comes to bringing your ‘furever’ friend with you to a new home. Will there be necessary additional deposits if you are renting or moving in to a condo? Is the backyard fenced in? How far are you from your favorite veterinarian?

6. Mobility

“No one wants to picture themselves in a wheelchair or a walker, but the home layout must be able to accommodate limited mobility.”

Sixty is the new 40, right? People are living longer and are more active in retirement, but that doesn’t mean that down the road you won’t need your home to be more accessible. Having to install handrails and make sure that your hallways and doorways are wide enough may be a good reason to look for a home that was built to accommodate these needs.

7. Convenience

“Is the new home close to the golf course, or to shopping and dining? Do you have amenities within easy walking distance? This can add to home value!”

How close are you to your children and grandchildren? Would relocating to a new area make visits with family easier or more frequent? Beyond being close to your favorite stores and restaurants, there are a lot of factors to consider.

Bottom Line

When it comes to your forever home, evaluating your current house for its ability to adapt with you as you age can be the first step to guaranteeing your comfort in retirement. If after considering all these factors you find yourself curious about your options, let’s get together to evaluate your ability to sell your house in today’s market and get you into your dream retirement home!

Want to Sell Your Home Faster? Don’t Forget to Stage

Newton’s Top Brokers, Newton, MA. Real Estate, Compass, Sotheby’s

Want to Sell Your House Faster? Don’t Forget to Stage! [INFOGRAPHIC]

Some Highlights:

• The National Association of Realtors surveyed their members & released the findings of their Profile of Home Staging.
• 62% of seller’s agents say that staging a home decreases the amount of time a home spends on the market.
• 50% of staged homes saw a 1-10% increase in dollar-value offers from buyers.
• 77% of buyer’s agents said staging made it easier for buyers to visualize the home as their own.
• The top rooms to stage in order to attract more buyers are the living room, master bedroom, kitchen, and dining room.

Use the buttons below to share with your Personalization Profile…

       

« House-Buying Power at Near-Historic Levels

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

Search

The #1 Reason to List Your House for Sale NOW!

Newton, MA. real estate Compass  Sotheby’s  Top Newton Brokers

The #1 Reason to List Your House for Sale NOW!

If you are debating whether or not to list your house for sale this year, here is the #1 reason not to wait!

Buyer Demand Continues to Outpace the Supply of Homes for Sale

The National Association of Realtors’ (NAR) Chief Economist Lawrence Yun recently commented on the current lack of inventory:

“Inventory coming onto the market during this year’s spring buying season – as evidenced again by last month’s weak reading – was not even close to being enough to satisfy demand. 

That is why home prices keep outpacing incomes and listings are going under contract in less than a month – and much faster – in many parts of the country.”

The latest Existing Home Sales Report shows that there is currently a 4.1-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market, and 6.1% lower than last year’s inventory level.

The chart below details the year-over-year inventory shortages experienced over the last 12 months:

Anything less than a six-month supply is considered a “seller’s market.”

Bottom Line

Let’s get together to discuss the supply conditions in our neighborhood so that I can assist you in gaining access to the buyers who are ready, willing, and able to buy right now!

Should Boomers Buy or Rent after Selling?

Top Broker in Newton,MA. Compass, Sotheby’s

Should Boomers Buy or Rent after Selling?

Most of my seller clients have nowhere to move.  It’s hard for older people to wrap their mind around spending 6,000 a month in rent!

In a recent CNBC article, it was reported that many baby boomers are selling their current homes and moving into rentals, rather than purchasing another home.

“Between 2009 and 2015, the number of renters aged 55 or above rose 28 percent, while those aged 34 or younger only increased 3 percent…

Meanwhile, more than 5 million baby boomers across the nation are expected to rent their next home by 2020, according to a 2016 analysis from Freddie Mac.”

This makes sense in the short term for many reasons. If you are moving to a different part of town or a new region of the country, you may decide to rent until you pick the perfect home in an area you love. However, is renting a good long-term strategy?

A mortgage payment remains fixed. Rents, however…

The Census Bureau recently released their 2017 third quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:

As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether you should rent or buy your next home, you should take this into consideration.

Bottom Line

One way to protect yourself from rising rents is to lock in your housing expense by buying a home instead of renting. Let’s get together so we can help you decide what the best step is for you and your family!

Use the buttons below to share with your Personalization Profile…

       

 

« What is the Cost of Waiting Until Next Year to Buy?Home Prices Up 6.54% Across the Country! [INFOGRAPHIC] »

 

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.

What If I Wait Until Next Year to Buy a Home?

Newton, MA. Real Estate, Top Newton Realtors,  Top20Boston, Compass, Sotheby’s

 

We recently shared that national home prices have increased by 6.7% year-over-year. Over that same time period, interest rates have remained historically low which has allowed many buyers to enter the market.

As a seller, you will likely be most concerned about ‘short-term price’ – where home values are headed over the next six months. As a buyer, however, you must not be concerned about price, but instead about the ‘long-term cost’ of the home.

The Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage interest rates will increase by this time next year. According to CoreLogic’s most recent Home Price Index Report, home prices will appreciate by 5.2% over the next 12 months.

What Does This Mean as a Buyer?

If home prices appreciate by 5.2% over the next twelve months as predicted by CoreLogic, here is a simple demonstration of the impact that an increase in interest rate would have on the mortgage payment of a home selling for approximately $250,000 today:

Bottom Line

If buying a home is in your plan for this year, doing it sooner rather than later could save you thousands of dollars over the terms of your loan.

Why Home Prices Are Increasing?

Newton, MA Real Estate, Newton Top Brokers, Compass, Sotheby’s

 

repost from the KCM Crew

There are many unsubstantiated theories as to why home values are continuing to increase. From those who are worried that lending standards are again becoming too lenient (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are not at peak levels when they are adjusted for inflation), there seems to be no shortage of opinion.

However, the increase in prices is easily explained by the theory of supply & demand.Whenever there is a limited supply of an item that is in high demand, prices increase.

It is that simple. In real estate, it takes a six-month supply of existing salable inventory to maintain pricing stability. In most housing markets, anything less than six months will cause home values to appreciate and anything more than seven months will cause prices to depreciate (see chart below).

According to the Existing Home Sales Report from the National Association of Realtors (NAR), the monthly inventory of homes for sale has been below six months for the last five years (see chart below).

Bottom Line

If buyer demand continues to outpace the current supply of existing homes for sale, prices will continue to appreciate. Nothing nefarious is taking place. It is simply the theory of supply & demand working as it should.

Newton’s Largest Homes

Newton Top Realtor, Compass, Top 20 Realtor

How much is too much or is there no such thing?  Take a look and do let me know.

Newton’s Largest Homes

 

 

 

 

 

5 Tech Questions that Seniors Should Ask When Interviewing a Real Estate Agent

5 Tech Questions that Seniors Should Ask When Interviewing a Real Estate AgentSotheby’s Newton, MA.  Newton, MA.  Top AgentsPosted: May 21, 2015 10AM EST  Nikki Buckelew back as a guestblogger for today’s post. Nikki has extensive experience working with seniors and is the Founder & CEO of the Senior Real Estate Institute. Enjoy!   If you have not bought or sold a home in a few years (or maybe decades) it is likely that there are more than a few new trends in real estate that you will encounter as you begin to interview real estate agents. One particular trend now common among many real estatebrokerage firms is called the practice of “going paperless.” This can be a bit scary for some people, especially senior adults who are not accustomed to using computers in their personal or professional lives. If you are one of the many with reservations about the paperless process, you will want to talk with your agent about any concerns or questions you have. In this article we have provided some basic information about the paperless process and some key questions to ask your real estate agent. How your agent handles your questions may just help you determine if he or she is the right agent for you! What does it mean to go paperless? Going paperless simply means that instead of printing out every contract, form or disclosure for your signature, you may be asked to sign certain documents electronically. This could mean: Typing your name into a designated field included in a form (received via email) Signing your name on a digital touchpad (laptop, netbook, smart phone, etc.) While some have experienced this type of technology before and are perfectly willing and comfortable using it, others are not. Frankly, the first time I was asked to sign a real estate document electronically via email I was a bit perplexed and required some guidance. If you have not been exposed to this type of technology, it can seem a little overwhelming, especially if introduced to it in the midst all of the other things going on during a move. This is why it’s important to educate yourself on the front end, mitigating potential delays, avoiding unnecessary frustration, and preventing surprises down the road. Here are 5 simple questions you should ask before you ‘sign on the dotted line’ 1. How do you typically communicate with your clients (phone, email, text, instant messaging, etc.)? Good agents know that the best method (and frequency) of communication is the one that best serves the client, so getting this agreed upon early in the relationship is paramount — for both you and the agent. If you want to communicate strictly by phone, be sure that you and your agent agree on the protocols for leaving and returning messages, hours of availability, and which phone numbers are best for certain times of day. Similar discussion around email, text messaging, and other modes of communication should be had as well, if that is your desired method of information delivery. 2. What method(s) do you use for getting client signatures? The goal here is to find out your options. Many agents are still in the conversion process of going paperless and they are more than willing to use “more conventional” methods of getting signatures. Some may be required, however, by their respective brokerage firms to utilize only paperless systems. If this is the case, ask the agent to show you examples of the types of things that may be asked of you during the course of working together. If after a quick tutorial, you aren’t comfortable with the electronic signature process, it’s “OK” to choose an agent who can better accommodate your preferences. 3. Can you access my devices to insure they are compatible with the systems you use? Even if you are completely prepared to enter the paperless world with no reservations whatsoever, it can only be done if you have the right equipment. Before agreeing to a paperless process, ask the agent to do a “test run” using a non-official/non-binding document on your system to insure its functionality. 4. Will you provide technical support if I am not “techy” and need some help? My dad (self-described “non-techy” and proud of it), has a computer, printer, smart phone, email address, and wifi. He does not, however, have the faintest idea how they work or how to pull up attachments in his email. When he decided to purchase a new home this past year using a reverse mortgage, the lender was located out of state, which meant everything was done via email — electronically. Needless to say, I was dad’s tech support in this situation. If you do not have a trusted advisor who can help you with troubleshooting potential technology issues, make sure your agent or their staff is capable, patient, and willing to personally walking you through the steps. 5. Are you flexible if I choose to use phone and paper over electronic communication and documentation? Options are the key. While some agents are extremely flexible in how they deliver their services, others may be married to a very specific process or style. Insure the agent you are considering is willing and able to do what is right for you, based on your comfort level, knowledge, and ability. Bottom Line It goes without saying that it is critical to have the conversation with your real estate professional about their paperless processes and communication methods. Not only will doing so put your mind at ease regarding unfamiliar territory, but it may also provide your agent with necessary information so he or she can serve you more effectively.

5 Must-Haves of Millennial Home Buyers

5 Must-Haves of Millennial Buyers

Millennials, those born between 1980 and 2000, are the second-biggest segment of home buyers, behind Generation X (those born between 1965 and 1979), according to a 2013 National Association of REALTORS® study about generational housing trends.

Real estate professionals told ABC News recently of some “must have” features that tend to be in high demand among young buyers. Some of those “must haves” include:

1. Updated kitchen and bath: “The primary reason young buyers seek updated kitchens and baths is because they have limited budgets,” says Jack Curtis, a real estate professional in Dublin, Ohio. “Most of their savings will go toward the down payment and furnishings. Kitchens and bathrooms are also the most expensive parts of a home to update, and young home owners cannot afford to sink a lot of money into those areas.”

2. Big kitchen with an open floor plan: “The kitchen has become the hangout room along with the family room,” says Lou Cardillo of The Lou Cardillo Team in Yorktwon Heights, N.Y. “An open space that can easily transition from kitchen to TV room is high on the list of the perfect home for young buyers. In essence, the kitchen is the new living room.”

3. Home office: “As technology continues to make us more mobile, young buyers have more options than ever to work from home, depending on their job,” says Paige Elliot, a real estate professional with Dave Perry-Miller & Associates in Dallas. “Having a dedicated space is important because it will help keep them focused and concentrated on work while they are at home on a Skype call, planning a presentation, setting up their workday or simply paying bills.”

4. Location: “My young buyers look for properties that are in proximity to public transportation and that have a good walking score,” says Margaret Szerlip, Real Estate professional at Sotheby’s in Newton, MA.

5. Technology: A home’s appeal can be increased if it has a strong mobile carrier’s signal or its list of Internet service provider options, says Cardillo. “Internet and cell service matters a lot to this generation, and they’re going to ask, so you need to have answers,” Cardillo says.

OPEN HOUSE Sunday, May 17th from 12-1:30 1592 Commonwealth Ave, Newton, MA

OPEN HOUSE Sunday 12-1:30 1592 Commonwealth Ave, Newton, MA

 

The flowers have bloomed, the pool and hot tub are open…come see this very special home

 

 

Bi-Monthly Newton Real Estate Recap

Bi-Monthly Newton Real Estate Recap

Newton, MA.  10:45 EST  Newton’s Top Brokers, Sotheby’s Realty, Newton, MA.

The real estate market is busy!  There are at total of 130 single family homes currently for sale in Newton, up from 113 two weeks ago.  67 new properties came on the market across all price ranges in the past 2 weeks!  52 homes went Unger Agreement in that same time period with the 1 million to 2 million remaining the most active with 28.  The condo market remains STRONG!  Sellers’ there are so many buyers clamoring for the same house, so list yours if you are thinking about it!

 

On-Market Snapshot
Report Run: 5/11/2015 10:35:20 AM Property Type(s): SF Snapshot Date: 04/27/2015 Towns: Newton
04/27/2015  5/11/2015 Price Range Number of Listings Avg. Days on Market vs. today Number of Listings Avg. Days on Market Under $50,000 – – – – $50,000 – $99,999 – – – – $100,000 – $149,999 – – – – $150,000 – $199,999 – – – – $200,000 – $249,999 – – – – $250,000 – $299,999 – – – – $300,000 – $349,999 – – – – $350,000 – $399,999 – – – – $400,000 – $449,999 – – – – $450,000 – $499,999 – – – – $500,000 – $599,999 4 61 5 58 $600,000 – $699,999 1 5 7 10 $700,000 – $799,999 3 21 4 10 $800,000 – $899,999 3 89 6 62 $900,000 – $999,999 5 18 3 9 $1,000,000 – $1,499,999 25 31 32 33 $1,500,000 – $1,999,999 27 68 25 67 $2,000,000 – $2,499,999 15 140 14 150 $2,500,000 – $2,999,999 20 143 18 118 $3,000,000 – $3,999,999 9 78 12 62 $4,000,000 – $4,999,999 1 12 4 23 $5,000,000 – $9,999,999 – – – – Over $10,000,000 – – – – Total Properties 113 Avg. 79 130 Avg. 66 Lowest Price: $519,000 Median Price: $1,780,000 Highest Price: $4,000,000 Average Price: $1,948,054 Total Market Volume: $220,130,153 Lowest Price: $519,000 Median Price: $1,704,999.50 Highest Price: $4,650,000 Average Price: $1,903,738 Total Market Volume: $247,485,940

Pending Statistics
Report Run: 5/11/2015 10:36:12 AM Property Type(s): SF Start Date: 04/27/2015 End Date: 05/11/2015 Towns: Newton
Went Pending Current Status Price Range # of Listings # UAG # CTG # Sold # Other Under $50,000 – – – – – $50,000 – $99,999 – – – – – $100,000 – $149,999 – – – – – $150,000 – $199,999 – – – – – $200,000 – $249,999 – – – – – $250,000 – $299,999 – – – – – $300,000 – $349,999 – – – – – $350,000 – $399,999 – – – – – $400,000 – $449,999 – – – – – $450,000 – $499,999 – – – – – $500,000 – $599,999 1 – 1 – – $600,000 – $699,999 4 3 1 – – $700,000 – $799,999 4 1 3 – – $800,000 – $899,999 4 3 1 – – $900,000 – $999,999 6 3 3 – – $1,000,000 – $1,499,999 14 8 4 – 2 $1,500,000 – $1,999,999 14 8 6 – – $2,000,000 – $2,499,999 3 – 3 – – $2,500,000 – $2,999,999 2 1 1 – – $3,000,000 – $3,999,999 – – – – – $4,000,000 – $4,999,999 – – – – – $5,000,000 – $9,999,999 – – – – – Over $10,000,000 – – – – – Total Properties 52 27 23 0 2 Lowest Price: $595,000 Median Price: $1,287,000 Highest Price: $2,999,999 Average Price: $1,369,605 Total Market Volume: $71,219,486

 

Total Sold Market Statistics
Report Run: 5/11/2015 10:37:09 AM Property Type(s): SF Status: SLD Start Date: 04/27/2015 End Date: 05/11/2015 Towns: Newton
Price Range # of Listings Avg. Days on Market Avg. Days to Offer Average Sale Price Average List Price SP:LP Ratio Average Orig Price SP:OP Ratio $0 – $49,999 0 0 0 $0 $0 0 $0 0 $50,000 – $99,999 0 0 0 $0 $0 0 $0 0 $100,000 – $149,999 0 0 0 $0 $0 0 $0 0 $150,000 – $199,999 0 0 0 $0 $0 0 $0 0 $200,000 – $249,999 0 0 0 $0 $0 0 $0 0 $250,000 – $299,999 0 0 0 $0 $0 0 $0 0 $300,000 – $349,999 0 0 0 $0 $0 0 $0 0 $350,000 – $399,999 0 0 0 $0 $0 0 $0 0 $400,000 – $449,999 0 0 0 $0 $0 0 $0 0 $450,000 – $499,999 0 0 0 $0 $0 0 $0 0 $500,000 – $599,999 0 0 0 $0 $0 0 $0 0 $600,000 – $699,999 2 12 5 $669,750 $612,000 110 $612,000 110 $700,000 – $799,999 2 16 3 $735,000 $724,500 101 $724,500 101 $800,000 – $899,999 0 0 0 $0 $0 0 $0 0 $900,000 – $999,999 0 0 0 $0 $0 0 $0 0 $1,000,000 – $1,499,999 5 26 6 $1,273,200 $1,227,600 105 $1,227,600 105 $1,500,000 – $1,999,999 5 128 45 $1,748,794 $1,754,600 100 $1,795,600 98 $2,000,000 – $2,499,999 3 119 79 $2,102,333 $2,198,300 96 $2,231,633 94 $2,500,000 – $2,999,999 0 0 0 $0 $0 0 $0 0 $3,000,000 – $3,999,999 0 0 0 $0 $0 0 $0 0 $4,000,000 – $4,999,999 1 24 24 $4,000,000 $4,500,000 89 $4,500,000 89 $5,000,000 – $9,999,999 0 0 0 $0 $0 0 $0 0 $10,000,000 – $99,999,999 0 0 0 $0 $0 0 $0 0 Total Properties 18 Avg. 67 Avg. 29 $1,568,137 $1,593,272 101 $1,610,217 100 Lowest Price: $662,000 Median Price: $1,509,485 Highest Price: $4,000,000 Average Price: $1,568,137 Total Market Volume: $28,226,469

Homeowners: We Need to Sell Your House Twice

Homeowners: We Need to Sell Your House Twice Sotheby’s Newton  Newton’s Top Brokers Posted: May 5, 2015 EST  Newton, MA. Every house on the market has to be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). In a housing market where supply is very low and demand is very high, home values increase rapidly. One major challenge in such a market is that bank appraisal. If prices are jumping, it is difficult for appraisers to find adequate comparable sales (similar houses in the neighborhood that closed recently) to defend the price when doing the appraisal for the bank. With escalating prices, the second sale might be even more difficult than the first. And now, there may be a second issue further complicating the appraisal issue. The Mortgage News Daily (MND) recently published an article titled Conservative Appraisals Increasingly Mentioned in 2015; Did Something Change? The article revealed that there was a “flurry” of comments on their website from members expressing concern about… “…a sudden increase in appraisals reflecting market values well below what had been expected. In some cases the low appraisals had merely required the restructuring of the loan, in others they killed the deal.” The National Association of Realtors revealed this month that 8% of the contracts that fell through over the last three months were terminated because of appraisal issues.MND decided to survey their members and ask why this sudden increase in “short” appraisals could be taking place. Here is one result of that survey: “Almost everyone we spoke to mentioned Fannie Mae’s new Collateral Underwriter (CU).” Collateral Underwriter provides a risk score on individual appraisals which will lead to a ranking of appraisals by risk profile, allowing lenders to identify appraisals with heightened risk of quality issues, overvaluation, and compliance violations. It went on-line on January 26. Marianne Sullivan, senior vice president of single-family business capability with Fannie Mae believes that CU is not a problem for appraisers. She claimed: “From an appraiser perspective, one of the lender’s responsibilities has always been to review the quality of an appraiser, and they have been using various methods to do that forever. I don’t think appraisers will find this tool to be disruptive.” However, some think that CU has caused appraisers to become too cautious with their appraised values. One mortgage professional in theMND article explained it this way: “My personal opinion is that appraisers are being overly conservative in choosing comps because of CU. If CU questions the comps, adjustments, etc., the appraiser would have to do a lot of extra work to justify them. I had anticipated that CU would cause delays because of this extra work, but it seems that appraisers are one step ahead and are being ultra conservative, thus avoiding the extra work in the first place. I haven’t spoken to an appraiser about it; this is just my interpretation of what I am seeing.” Ryan Lundquist, a Certified Residential Appraiser in the Sacramento area, agreed:

Lack of Inventory Hits Tony Towns

Real estate agent Margaret Szerlip is seen at 1592 Commonwealth Avenue in Newton, Monday, April 27, 2015. Staff photo by Angela Rowlings

By: Adam Smith

 https://www.bostonherald.com/business/real_estate/2015/04/lack_of_inventory_hits_tony_towns

When Meryl Appelbaum put her family’s Newton Corner home on the market for $1.89 million last month, her agent got her a good ­offer in just two weeks.

But there was one problem.

“There was nothing out there that made it worthwhile to sell,” said Appelbaum, who was looking to downsize but stay in Newton.

Anything going for $1.5 million or less — the price she was hoping to pay — either needed renovations or was sold as soon as it was listed. So, she backed out, and took her house off the market.

“It’s nuts,” said Appelbaum’s real estate agent, Margaret Szerlip, vice president of Karp Liberman & Kern Sotheby’s International Realty in Newton.

Szerlip and several other area real estate agents say the number of homes for sale in affluent Greater Boston communities has been shrinking compared with previous years — and the dramatic lack of inventory has been compounded by home owners like Appel­baum, who hold off selling for fear they’ll have no place to go.

“It’s a catch-22” said John Dulczewski, executive director of the Greater Boston Association of Realtors, who said several of his agents have faced similar situations with clients who hold back on selling their homes.

The lack of inventory has hit Brookline, Newton, Cambridge, Needham and West Roxbury especially hard, several agents say.

And it was exacerbated by the historic snowfall this year, said Szerlip.

“It was the worst winter in 11 years” for sales, she said.

Agents say that by March, they typically see an uptick in sales, but not this year.

“We started noticing this early in the fall, and it’s continued,” said real estate agent Bill Lawson, who works in Brookline.

Finally, he said, “there’s a bit more activity now that the snow is gone.”

But he also said some sellers looking to stay in town have grown wary about letting go of their homes.

From January to March, much of Greater Boston’s wealthier towns — especially
Brookline, Cambridge and Newton — saw year-over-year drops in inventory, according to numbers from the Greater Boston Association of Realtors. Brookline and Cambridge each saw about a 50 percent drop in the number of houses and condos on the market in March. Brookline, in particular, saw a significant drop in year-to-date listings by March compared with last year.

The supply squeeze means that almost anything selling in Brookline for $500,000 to $800,000 goes quickly and for well above the asking price, said Lawson, who works for Chobee Hoy Associates.

Szerlip said a Chestnut Hill condo she recently listed sold in just a weekend for above its $368,000 asking price — in a cash deal that gave the owner a September move-out date. Though she said anything for about $1 million sells rapidly, she’s even confident a home she’s co-listing for $3.5 million on Commonwealth Avenue in Newton will be quickly snapped up.

“We have a lot of showings on that and someone is going to buy that,” she said.

In addition to the tough winter, other reasons for the decline in inventory include owners with mortgage woes and strict zoning that’s keeping new homes from being built, said Dulczewski.

“In the short-term,” said Dulczewski, “I don’t hear anything from the brokers and agents that things are improving.”

Is Your Home Functionally Obsolete?

 Is Your Home Functionally Obsolete?

Newton Top Brokers, Sotheby’s Newton, MA.

Posted 12PM EST Newton, MA

The definition of functionally obsolete pertaining to real estate is: A reduction in the usefulness or desirability of an object because of an outdated design feature, usually one that cannot be easily changed.  That definition applies to many houses currently on the market here in the western suburbs of Boston.  An early to mid 20th century Colonial usually has a center stair case and a living and dining on either side of the foyer.  The kitchen is generally located behind the dining room and a sun-room located off the living room.  For many years the sun room became the family room and everyone was delighted to have that extra space.  Of course the living room wasn’t used as often once family rooms or dens became common. These houses were built when hosts didn’t want people in their kitchen when they were having company. Company came over and were led into the living room to have cocktails and Hors d’oeuvres.  The cook ran back and forth between the kitchen and the company.  Well women got tired of being in the kitchen and missing the party and the living room got shafted.

Victorians are another problem, they were extremely popular 10-20 years ago.  They have high ceilings and beautiful wide foyers.  Those wide foyers and intricate staircases make for little rooms and difficult renovations.  Over the years many people have added beautiful family rooms in the rear of the house off the kitchen.  But today’s buyer does not want a right parlor and left parlor and a dining room and a family room and a sun-room…. They don’t want to pay for rooms they don’t use.

Cooking together has become part of the experience.  People enjoy cooking now and they want their friends and family in the kitchen with them.  Guests WANT to be in the kitchen with their hosts!  A desirable first floor today in a “normal” home consists of an open concept living, dining and kitchen, maybe a separate office and a large mud room.  4 second floor bedrooms and at least 3 bathrooms.  I don’t know why kids can’t share a bathroom with their siblings anymore?  What will they do when they have to share with 20 people in college?

So what does all this mean?  It means that the price of your home depends on how desirable your home is perceived through the eyes of a buyer.  Buyers have always determined the price of a home, not the seller or their agent.  If there is a way to open up the first floor and connect unused living rooms to the kitchen then you’ll be ok.  Your home will not sell at a premium because there is an automatic deduction in the mind of the buyer.  Most pre-war Colonials were built with a powder room under the front hall stairs, blocking the ability to open up to the kitchen and living room to each other.  Relocating a bath is not inexpensive and removing the first floor powder room is not desirable while living in the home or for resale.

Every house is salable!  The price melts away objections and gives buyers an opportunity to bring a home into the 21st century.

 

 

Bi-Monthly Real Estate Recap

Bi-Monthly Real Estate Recap

Newton’s Top Brokers Sotheby’s Newton, MA.

Posted April 27, 2015 9:45AM EST

Inventory remains very low in Newton, we have had a small increase from 105 to 116 homes for sale.  Out of the 116 available homes only 19 are below 1 million dollars.  The least expensive home currently listed is $519,000.  48 homes have gone under agreement in the last 2 weeks up from 31 during the prior period.  The most active segment of the market remains the 1 million to 2 million segment with 21 homes going under agreement in the past 2 weeks. A mere 7 homes sold during the same 2 weeks.  The record snowfall kept most buyers and sellers on the sidelines and today’s closings represent what happened roughly 60 days ago.

The condo market is also incredibly busy and buyers thirst for new construction is not waning.  Stay tuned, the next 2 weeks promise to be very busy now that school vacations and religious holidays are behind us.

 

 

On-Market Snapshot
Report Run: 4/27/2015 9:35:39 AM Property Type(s): SF Snapshot Date: 04/13/2015 Towns: Newton
04/13/2015  4/27/2015 Price Range Number of Listings Avg. Days on Market vs. today Number of Listings Avg. Days on Market Under $50,000 – – – – $50,000 – $99,999 – – – – $100,000 – $149,999 – – – – $150,000 – $199,999 – – – – $200,000 – $249,999 – – – – $250,000 – $299,999 – – – – $300,000 – $349,999 – – – – $350,000 – $399,999 – – – – $400,000 – $449,999 – – – – $450,000 – $499,999 – – – – $500,000 – $599,999 4 61 4 61 $600,000 – $699,999 1 3 1 5 $700,000 – $799,999 3 9 5 20 $800,000 – $899,999 5 49 4 68 $900,000 – $999,999 6 32 5 18 $1,000,000 – $1,499,999 22 27 25 32 $1,500,000 – $1,999,999 27 42 28 65 $2,000,000 – $2,499,999 14 176 15 141 $2,500,000 – $2,999,999 15 149 19 138 $3,000,000 – $3,999,999 8 122 9 78 $4,000,000 – $4,999,999 – – 1 12 $5,000,000 – $9,999,999 – – – – Over $10,000,000 – – – – Total Properties 105 Avg. 77 116 Avg. 76 Lowest Price: $549,000 Median Price: $1,699,000 Highest Price: $3,999,900 Average Price: $1,840,896 Total Market Volume: $193,294,174 Lowest Price: $519,000 Median Price: $1,765,000 Highest Price: $4,000,000 Average Price: $1,911,413 Total Market Volume: $221,723,953

 

Pending Statistics
Report Run: 4/27/2015 9:37:49 AM Property Type(s): SF Start Date: 04/13/2015 End Date: 04/27/2015 Towns: Newton
Went Pending Current Status Price Range # of Listings # UAG # CTG # Sold # Other Under $50,000 – – – – – $50,000 – $99,999 – – – – – $100,000 – $149,999 – – – – – $150,000 – $199,999 – – – – – $200,000 – $249,999 – – – – – $250,000 – $299,999 – – – – – $300,000 – $349,999 – – – – – $350,000 – $399,999 – – – – – $400,000 – $449,999 – – – – – $450,000 – $499,999 1 – 1 – – $500,000 – $599,999 4 3 1 – – $600,000 – $699,999 3 1 2 – – $700,000 – $799,999 1 1 – – – $800,000 – $899,999 6 5 1 – – $900,000 – $999,999 7 3 4 – – $1,000,000 – $1,499,999 11 6 4 – 1 $1,500,000 – $1,999,999 10 4 5 – 1 $2,000,000 – $2,499,999 1 – – – 1 $2,500,000 – $2,999,999 3 1 1 – 1 $3,000,000 – $3,999,999 1 1 – – – $4,000,000 – $4,999,999 – – – – – $5,000,000 – $9,999,999 – – – – – Over $10,000,000 – – – – – Total Properties 48 25 19 0 4 Lowest Price: $450,000 Median Price: $1,064,000 Highest Price: $3,999,000 Average Price: $1,308,149 Total Market Volume: $62,791,163

Total Sold Market Statistics
Report Run: 4/27/2015 9:39:48 AM Property Type(s): SF Status: SLD Start Date: 04/13/2015 End Date: 04/27/2015 Towns: Newton
Price Range # of Listings Avg. Days on Market Avg. Days to Offer Average Sale Price Average Orig Price SP:OP Ratio $0 – $49,999 0 0 0 $0 $0 0 $50,000 – $99,999 0 0 0 $0 $0 0 $100,000 – $149,999 0 0 0 $0 $0 0 $150,000 – $199,999 0 0 0 $0 $0 0 $200,000 – $249,999 0 0 0 $0 $0 0 $250,000 – $299,999 0 0 0 $0 $0 0 $300,000 – $349,999 0 0 0 $0 $0 0 $350,000 – $399,999 0 0 0 $0 $0 0 $400,000 – $449,999 0 0 0 $0 $0 0 $450,000 – $499,999 0 0 0 $0 $0 0 $500,000 – $599,999 0 0 0 $0 $0 0 $600,000 – $699,999 1 35 35 $656,000 $684,000 96 $700,000 – $799,999 0 0 0 $0 $0 0 $800,000 – $899,999 0 0 0 $0 $0 0 $900,000 – $999,999 0 0 0 $0 $0 0 $1,000,000 – $1,499,999 2 50 23 $1,130,750 $1,299,000 88 $1,500,000 – $1,999,999 1 185 177 $1,800,000 $2,200,000 82 $2,000,000 – $2,499,999 2 272 117 $2,250,000 $2,474,500 91 $2,500,000 – $2,999,999 0 0 0 $0 $0 0 $3,000,000 – $3,999,999 1 139 139 $3,600,000 $3,750,000 96 $4,000,000 – $4,999,999 0 0 0 $0 $0 0 $5,000,000 – $9,999,999 0 0 0 $0 $0 0 $10,000,000 – $99,999,999 0 0 0 $0 $0 0 Total Properties 7 Avg. 143 Avg. 90 $1,831,071 $2,025,857 90 Lowest Price: $656,000 Median Price: $1,800,000 Highest Price: $3,600,000 Average Price: $1,831,071 Total Market Volume: $12,817,500

We Need Your House!!

We Need Your House!!!  This is a Supply and Demand Business and there is no supply! Sotheby’s Newton, MA.  Top Realtors, Supply and Demand April 21, 2015EST Newton, MA. Though the real estate market has improved, we still have one item holding it back from a full recovery – a robust supply of homes for sale. Demand has increased dramatically. At the same time, housing inventory is decreasing especially at the lower price points. The National Association of Realtors (NAR) recently revealed that there is apent-up seller demand caused by the uncertainty created by the housing crisis of the last decade. What does that mean to you? Houses listed today sell quickly. With prices still below peak values of 2007 in many parts of the country and mortgage interest rates at historic lows, this may be the perfect time for your family to make the move to the dream house you always wanted – whether that’s a larger home or that vacation/retirement home you have been looking at. What does that mean to the economy? Housing has always been an essential part of the U.S. economy. As we have reported before, real estate not only provides housing for families. It is often the greatest source of wealth and savings for many. The recent increase in real estate sales has led to an increase in real estate prices. This has increased the value of everyone’s’ home, whether they are selling or not. This leads to an increase in consumer confidence which in turn leads to an increase in consumer spending. Plus, each home sale automatically puts money into the economy. NAR compiled data from research conducted by the Bureau of Economic Analysis & Macroeconomic Advisors on the economic impact of a home purchase. After reviewing the data, they concluded that the total economic impact of a typical home sale in the United States is an astonishing $52,205. The more homes that sell, the better the economy. Bottom Line In order for the U.S. economy to get better, we need to sell more homes. Perhaps, it makes sense for one of those homes to be yours. If you have considered selling but are still a little nervous, now might be the time to sit down with a real estate professional familiar with your market and see what your options truly are.

3 CLIENTS ALL IN ONE ARTICLE IN THE BOSTON GLOBE

Erin Gates: Designer and Elements of Style Blogger and Author

Sarah Winchester: Photographer Extraordinaire

Dina Cirimboli: Owner

Newton, Sotheby’s Realty, Top Newton Brokers

APRIL 20, 2015

I was so excited to have this special little space I designed featured in the Boston Globe Magazine this weekend (shot by the wonderful Sarah Winchester)!  This room was for a long time client (whose house is in my book) that needed a study space for her daughter as well as a second guest room, and I think we succeeded on both fronts!

A daybed from Restoration Hardware anchored the room and gave us ample floor space for the other elements we needed to incorporate into the space.  We used Farrow & Ball’s Lotus wallpaper behind the bed for some drama and installed two brass sconces from Circa Lighting for ample direct reading light. All the pillows were custom as were the cuffed drapes.

In between the draped windows we used a tall skinny bookshelf for book storage ( lots of the accessories I found at Homegoods).

Across from the bed we used a West Elm dining table as a double desk so two chairs could face each other for when help was needed at homework time.

1592 Commonwealth Ave — Open House Sunday from 12-2

1592 Commonwealth Ave Open House Sunday from 12-2

Sotheby’s Newton, MA.  Newton Top Realtors

FOR SALE: 1592 COMMONWEALTH AVENUE, NEWTON, MA. $3,599,000

Sotheby’s Newton, MA.  Top Newton Brokers  12:00PM EST

 

RESORT LIVING IN NEWTON:

This Georgian inspired colonial embodies all of the elements of intelligent design. Perfect home for family gatherings, large formal entertaining, and cozy evenings with friends. The enchanted garden-scape created by Sudbury design includes an in-ground pool, inviting hot tub, elegant plantings, stone walls, and wide patios, plus room for cooking & outdoor entertaining. This is a property that exudes a life of fun and sport… handsome billiard room on the lower level with a built-in dry bar, a Sauna, an enormous game room with custom storage, and a coveted MEDIA room with elevated platforms, leather recliners, surround sound, a seating area for snacks & popcorn & fireplace. Chef’s kitchen with all “Wolf” appliances, huge island dining & prep area; Family room with fireplace and double height windows; French doors and bay window Breakfast Room; Stunning dining room and Living Room; Mahogany paneled Library; Luxurious Master suite with a fireplace and heated floors in steam spa bath.

 

FOR SALE: 1592 COMMONWEALTH AVENUE, NEWTON, MA. $3,599,000

Sotheby’s Newton, MA.  Top Newton Brokers  12:00PM EST

 

RESORT LIVING IN NEWTON:

This Georgian inspired colonial embodies all of the elements of intelligent design. Perfect home for family gatherings, large formal entertaining, and cozy evenings with friends. The enchanted garden-scape created by Sudbury design includes an in-ground pool, inviting hot tub, elegant plantings, stone walls, and wide patios, plus room for cooking & outdoor entertaining. This is a property that exudes a life of fun and sport… handsome billiard room on the lower level with a built-in dry bar, a Sauna, an enormous game room with custom storage, and a coveted MEDIA room with elevated platforms, leather recliners, surround sound, a seating area for snacks & popcorn & fireplace. Chef’s kitchen with all “Wolf” appliances, huge island dining & prep area; Family room with fireplace and double height windows; French doors and bay window Breakfast Room; Stunning dining room and Living Room; Mahogany paneled Library; Luxurious Master suite with a fireplace and heated floors in steam spa bath.

Bi-Monthly Newton Real Estate Recap

Sotheby’s Newton, MA. Top Brokers

Newton, MA.  1:30PM EST

Spring has finally arrived and it has brought a few more listings to the market.  Inventory has increased from 92 to 108 homes for sale.  While 20 additional homes are available we are still about 50% of a normal market.  31 homes have gone under agreement in the past 2 week with the 1.5-2 million dollar price range continuing to be the most active.  There is also activity in the very high-end market.  Only 14 homes closed in the past few weeks and that is a direct result of snow bound buyers and sellers during late January and February.

On-Market Snapshot
Report Run: 4/13/2015 1:07:03 PM Property Type(s): SF Snapshot Date: 03/31/2015 Towns: Newton
03/31/2015  4/13/2015 Price Range Number of Listings Avg. Days on Market vs. today Number of Listings Avg. Days on Market Under $50,000 – – – – $50,000 – $99,999 – – – – $100,000 – $149,999 – – – – $150,000 – $199,999 – – – – $200,000 – $249,999 – – – – $250,000 – $299,999 – – – – $300,000 – $349,999 – – – – $350,000 – $399,999 1 6 – – $400,000 – $449,999 – – – – $450,000 – $499,999 – – 1 6 $500,000 – $599,999 1 209 4 61 $600,000 – $699,999 1 0 1 3 $700,000 – $799,999 2 149 3 9 $800,000 – $899,999 4 63 6 43 $900,000 – $999,999 3 56 6 50 $1,000,000 – $1,499,999 22 32 24 38 $1,500,000 – $1,999,999 23 48 27 42 $2,000,000 – $2,499,999 14 167 14 177 $2,500,000 – $2,999,999 12 128 15 149 $3,000,000 – $3,999,999 8 228 7 131 $4,000,000 – $4,999,999 1 22 – – $5,000,000 – $9,999,999 – – – – Over $10,000,000 – – – – Total Properties 92 Avg. 92 108 Avg. 79 Lowest Price: $399,000 Median Price: $1,717,500 Highest Price: $4,500,000 Average Price: $1,906,135 Total Market Volume: $175,364,486 Lowest Price: $450,000 Median Price: $1,662,000 Highest Price: $3,999,900 Average Price: $1,791,334 Total Market Volume: $193,464,086

 

Pending Statistics
Report Run: 4/13/2015 1:09:03 PM Property Type(s): SF Start Date: 03/31/2015 End Date: 04/13/2015 Towns: Newton
Went Pending Current Status Price Range # of Listings # UAG # CTG # Sold # Other Under $50,000 – – – – – $50,000 – $99,999 – – – – – $100,000 – $149,999 – – – – – $150,000 – $199,999 – – – – – $200,000 – $249,999 – – – – – $250,000 – $299,999 – – – – – $300,000 – $349,999 – – – – – $350,000 – $399,999 1 – 1 – – $400,000 – $449,999 – – – – – $450,000 – $499,999 1 1 – – – $500,000 – $599,999 – – – – – $600,000 – $699,999 4 2 2 – – $700,000 – $799,999 1 – 1 – – $800,000 – $899,999 4 1 2 – 1 $900,000 – $999,999 4 2 2 – – $1,000,000 – $1,499,999 7 1 6 – – $1,500,000 – $1,999,999 4 3 1 – – $2,000,000 – $2,499,999 2 2 – – – $2,500,000 – $2,999,999 – – – – – $3,000,000 – $3,999,999 2 2 – – – $4,000,000 – $4,999,999 1 1 – – – $5,000,000 – $9,999,999 – – – – – Over $10,000,000 – – – – – Total Properties 31 15 15 0 1 Lowest Price: $399,000 Median Price: $986,950 Highest Price: $4,500,000 Average Price: $1,429,977 Total Market Volume: $44,329,300

 

Total Sold Market Statistics
Report Run: 4/13/2015 1:10:38 PM Property Type(s): SF Status: SLD Start Date: 03/31/2015 End Date: 04/13/2015 Towns: Newton
Price Range # of Listings Avg. Days on Market Avg. Days to Offer Average Sale Price Average List Price Average Orig Price SP:OP Ratio $0 – $49,999 0 0 0 $0 $0 $0 0 $50,000 – $99,999 0 0 0 $0 $0 $0 0 $100,000 – $149,999 0 0 0 $0 $0 $0 0 $150,000 – $199,999 0 0 0 $0 $0 $0 0 $200,000 – $249,999 0 0 0 $0 $0 $0 0 $250,000 – $299,999 0 0 0 $0 $0 $0 0 $300,000 – $349,999 0 0 0 $0 $0 $0 0 $350,000 – $399,999 0 0 0 $0 $0 $0 0 $400,000 – $449,999 0 0 0 $0 $0 $0 0 $450,000 – $499,999 0 0 0 $0 $0 $0 0 $500,000 – $599,999 1 65 65 $560,000 $634,900 $634,900 88 $600,000 – $699,999 1 80 3 $655,000 $630,000 $630,000 104 $700,000 – $799,999 1 6 6 $777,600 $729,000 $729,000 107 $800,000 – $899,999 0 0 0 $0 $0 $0 0 $900,000 – $999,999 1 68 68 $950,000 $950,000 $950,000 100 $1,000,000 – $1,499,999 6 61 55 $1,244,689 $1,249,333 $1,291,000 97 $1,500,000 – $1,999,999 1 16 2 $1,940,000 $1,879,000 $1,879,000 103 $2,000,000 – $2,499,999 2 8 6 $2,230,000 $2,050,000 $2,050,000 109 $2,500,000 – $2,999,999 1 142 106 $2,600,000 $2,750,000 $2,850,000 91 $3,000,000 – $3,999,999 0 0 0 $0 $0 $0 0 $4,000,000 – $4,999,999 0 0 0 $0 $0 $0 0 $5,000,000 – $9,999,999 0 0 0 $0 $0 $0 0 $10,000,000 – $99,999,999 0 0 0 $0 $0 $0 0 Total Properties 14 Avg. 54 Avg. 42 $1,386,481 $1,369,207 $1,394,207 99 Lowest Price: $560,000 Median Price: $1,200,000 Highest Price: $2,600,000 Average Price: $1,386,481 Total Market Volume: $19,410,735

5 Tips for Lightening Your Living Space

 

Newton, MA. Realtor, Newton, MA. Top Agents

Do you dream of a light, airy living space? Do you want to feel like you’re living inside of a cloud? Below are 5 tips for a lighter living space, now.

Paint it white. Well this is an obvious one. From walls to wood paneling and hardwood floors, two coats of white paint will turn your living space into a year-round winter wonderland. Done and done!

Minimize. Do you really need all twenty of those awkward family photos on that side table? De-cluttering surfaces will lighten space with smooth lines. Cut clutter by adding hidden storage systems (like an ottoman with stow space), and minimize furniture to a handful of necessary pieces.

Add mirrors. Mirrors have long-since been a go-to trick for opening up a space. In addition to wall mirrors, consider adding mirrored back splashes or mirrored trays. Not into mirrors? Sparkle can do the trick, too. Glass-top tables and crystal candle holders, anyone?

Lighten the linens. Breezy, airy curtains and snow-white throws will make your space seem plush and comfortable, like snuggling with a sheep.

Shades of gray. To avoid looking as if you doused your house in bleach, consider adding soft, light shades of gray or blue to your color scheme. 

Why Waiting To Buy Might Not Make Sense

Why Waiting To Buy Might Not Make Sense Sotheby’s Newton, MA.  Posted: April 1, 2015 11:00AM EST Whether you are a first time or a move-up buyer, there are two factors that will impact the amount of house you can afford in your price range: home prices & mortgage rates. Let’s look at what the experts are predicting over the next twelve months for these two areas: PRICES Over 100 economists, real estate experts and investment & market strategists were recently polled as a part of the Home Price Expectation Survey. They were asked to project where home prices are headed. The average value appreciation projected over the next twelve-month period is approximately 4.4%. MORTGAGE INTEREST RATES In the latest Economic & Housing Market Outlook from Freddie Mac, they predict that the 30-year fixed mortgage rate will be 4.7% by this time next year. As of last week, the Freddie Mac rate was 3.69%. What does this mean to you? If you are a first-time buyer currently looking at a home priced at $250,000, this is what it could cost you on a monthly basis if you wait until next year to buy: If you are a move-up buyer currently looking at a home priced at $500,000, this is what it could cost you on a monthly basis if you wait a year to buy: Bottom Line With both home prices & interest rates projected to increase, waiting to buy could put a serious dent in your family’s wealth.

Freddie Mac’s New 3% Down Program

Freddie Mac’s New 3% Down Program Newton, MA.  11:30AM EST Posted: 23 Mar 2015  Today, Freddie Mac is scheduled to start buying mortgages with down payments of only three percent – the first time down payments have been this low on Freddie Mac loans in nearly five years. The program is called Freddie Mac Home Possible AdvantageSM. In a recent Executive Perspectives, Dave Lowman EVP, Single-Family Business Freddie Mac, explained the potential impact this program will have on the housing market: “There’s a new reason Realtors and lenders may expect more qualified borrowers at the closing table during this spring’s home buying season. In addition to low mortgage rates and rising job growth, the down payment hurdle is starting to shrink for creditworthy borrowers, including first-time homebuyers.” And the mortgage industry agrees with Mr. Lowman. In a recent survey of mortgage originators by the National Association of Realtors (NAR), it was revealed that most loan officers believe the move to a lower down payment will increase access to mortgage credit. Here are that survey’s findings: Bottom Line Many potential buyers are “ready and willing” to buy a home but have been afraid they may not be “able” because of a lack of adequate savings for a down payment. Check with a local real estate or mortgage professional to understand what the new rules may mean to you. CALL Margaret Szerlip at 617-921-6860 or margaretszerlip@gmail.com

Newton Real Estate Bi-Monthly Recap

Newton Real Estate Bi-Monthly Recap

Newton, MA.  11:OOAM EST

Oh my there is no inventory and we will have the latest spring market in decades.  I have said many times that the average number of homes for sale in Newton during a “normal” market is about 200.  That gives us a 4-6 month supply.  I cannot remember the last time there were a mere 66 homes for sale across all price ranges in Newton.  There are only 11 homes for sale under 1 Million dollars!  The most inventory is in homes priced between 2 million and 2.5 million.  Let me say that if your home is listed under 1.5 million dollars for more than a week without an offer, your price is too high.  It’s not your agent’s fault or the weather; it’s the price!

15 Homes went under contract in the past 2 weeks about 25% of the market.  Interestingly, the most active segment was between 2 million and 2.5 million.  There are buyers in every price point from the most inexpensive homes (for Newton) to the most expensive.  Buyers are desperately waiting for more homes to hit the market.  If your home has not sold and you have not received any offers, you are in fact helping to sell your competition.

So repair your ice dam damage and get your home ready for a sale.  Call me at 617-921-6860 or margaretszerlip@gmail.com

 

On-Market Snapshot
Report Run: 3/9/2015 10:31:27 AM Property Type(s): SF Snapshot Date: 03/09/2015 Towns: Newton
03/09/2015  3/9/2015 Price Range Number of Listings Avg. Days on Market vs. today Number of Listings Avg. Days on Market Under $50,000 – – – – $50,000 – $99,999 – – – – $100,000 – $149,999 – – – – $150,000 – $199,999 – – – – $200,000 – $249,999 – – – – $250,000 – $299,999 – – – – $300,000 – $349,999 – – – – $350,000 – $399,999 – – – – $400,000 – $449,999 – – – – $450,000 – $499,999 – – – – $500,000 – $599,999 3 119 3 119 $600,000 – $699,999 2 68 2 68 $700,000 – $799,999 2 155 2 155 $800,000 – $899,999 2 99 2 99 $900,000 – $999,999 2 59 2 111 $1,000,000 – $1,499,999 11 63 11 63 $1,500,000 – $1,999,999 13 114 13 114 $2,000,000 – $2,499,999 15 162 15 162 $2,500,000 – $2,999,999 8 152 8 152 $3,000,000 – $3,999,999 7 224 7 225 $4,000,000 – $4,999,999 1 76 1 76 $5,000,000 – $9,999,999 – – – – Over $10,000,000 – – – – Total Properties 66 Avg. 130 66 Avg. 132 Lowest Price: $580,000 Median Price: $1,919,500 Highest Price: $4,300,000 Average Price: $1,988,507 Total Market Volume: $131,241,474 Lowest Price: $580,000 Median Price: $1,919,500 Highest Price: $4,300,000 Average Price: $1,988,507 Total Market Volume: $131,241,474

 

Pending Statistics
Report Run: 3/9/2015 10:56:13 AM Property Type(s): SF Start Date: 02/20/2015 End Date: 03/09/2015 Towns: Newton
Went Pending Current Status Price Range # of Listings # UAG # CTG # Sold # Other Under $50,000 – – – – – $50,000 – $99,999 – – – – – $100,000 – $149,999 – – – – – $150,000 – $199,999 – – – – – $200,000 – $249,999 – – – – – $250,000 – $299,999 – – – – – $300,000 – $349,999 – – – – – $350,000 – $399,999 – – – – – $400,000 – $449,999 – – – – – $450,000 – $499,999 – – – – – $500,000 – $599,999 – – – – – $600,000 – $699,999 1 – 1 – – $700,000 – $799,999 1 1 – – – $800,000 – $899,999 – – – – – $900,000 – $999,999 1 1 – – – $1,000,000 – $1,499,999 7 3 4 – – $1,500,000 – $1,999,999 2 1 1 – – $2,000,000 – $2,499,999 5 3 2 – – $2,500,000 – $2,999,999 1 1 – – – $3,000,000 – $3,999,999 – – – – – $4,000,000 – $4,999,999 – – – – – $5,000,000 – $9,999,999 – – – – – Over $10,000,000 – – – – – Total Properties 18 10 8 0 0 Lowest Price: $669,000 Median Price: $1,435,000 Highest Price: $2,650,000 Average Price: $1,645,333 Total Market Volume: $29,616,000

 

Total Sold Market Statistics
Report Run: 3/9/2015 10:35:22 AM Property Type(s): SF Status: SLD Start Date: 02/23/2015 End Date: 03/09/2015 Towns: Newton
Price Range # of Listings Avg. Days on Market Avg. Days to Offer Average Sale Price Average List Price SP:LP Ratio Average Orig Price SP:OP Ratio $0 – $49,999 0 0 0 $0 $0 0 $0 0 $50,000 – $99,999 0 0 0 $0 $0 0 $0 0 $100,000 – $149,999 0 0 0 $0 $0 0 $0 0 $150,000 – $199,999 0 0 0 $0 $0 0 $0 0 $200,000 – $249,999 0 0 0 $0 $0 0 $0 0 $250,000 – $299,999 0 0 0 $0 $0 0 $0 0 $300,000 – $349,999 0 0 0 $0 $0 0 $0 0 $350,000 – $399,999 0 0 0 $0 $0 0 $0 0 $400,000 – $449,999 0 0 0 $0 $0 0 $0 0 $450,000 – $499,999 0 0 0 $0 $0 0 $0 0 $500,000 – $599,999 1 8 8 $520,000 $489,000 106 $489,000 106 $600,000 – $699,999 1 4 4 $604,500 $598,000 101 $598,000 101 $700,000 – $799,999 0 0 0 $0 $0 0 $0 0 $800,000 – $899,999 3 24 17 $884,667 $866,333 102 $866,333 102 $900,000 – $999,999 0 0 0 $0 $0 0 $0 0 $1,000,000 – $1,499,999 2 11 11 $1,347,750 $1,377,000 98 $1,377,000 98 $1,500,000 – $1,999,999 3 97 75 $1,798,333 $1,865,667 96 $1,899,333 95 $2,000,000 – $2,499,999 1 45 45 $2,280,000 $2,399,000 95 $2,399,000 95 $2,500,000 – $2,999,999 1 310 310 $2,560,000 $2,995,000 85 $3,500,000 73 $3,000,000 – $3,999,999 1 100 74 $3,650,000 $3,795,000 96 $3,795,000 96 $4,000,000 – $4,999,999 0 0 0 $0 $0 0 $0 0 $5,000,000 – $9,999,999 0 0 0 $0 $0 0 $0 0 $10,000,000 – $99,999,999 0 0 0 $0 $0 0 $0 0 Total Properties 13 Avg. 65 Avg. 57 $1,566,077 $1,632,769 98 $1,679,385 97 Lowest Price: $520,000 Median Price: $1,395,500 Highest Price: $3,650,000 Average Price: $1,566,077 Total Market Volume: $20,359,000

Protecting Your Nest Egg as You Age

 Newton, MA.  10:15AM EST

People pondering their retirement years often conjure images of spending more time on a favorite pastime or traveling around the country or the world.

Health concerns can intrude on those idyllic scenes, though, not only affecting enjoyment of life but also punching a heavy dent in retirement savings.

“As we age, usually our medical or long-term care expenses increase, sometimes depleting our assets to a level of crisis,” says financial advisor Jake Lowrey, president of Lowrey Financial Group.

“It’s important for retirees, and anyone planning for retirement, to become educated about what the pitfalls are and what they need to do to avoid losing their life savings.”

Long-term care especially can burn a hole in savings accounts. In 2012, for example, nursing home care averaged $74,800 a year, according to a report by the Henry J. Kaiser Family Foundation.

Meanwhile, assisted living facilities averaged $39,500 per year, and home-health services averaged $21 per hour.

More than 10 million Americans need some sort of long-term care, the Kaiser report says. That number covers all ages, even children, but about half are people 65 and older.

“Those older Americans had looked forward to enjoying their golden years,” Lowrey says. “They should be able to have actual golden years instead of what can end up being scary years, both personally and financially.”

Certainly, being able to maintain good health is a key factor in protecting savings and making retirement enjoyable and satisfying, he says.

But life doesn’t always work out that way. Fortunately, there are strategies seniors can use to lessen the impact of expenses brought on by long-term care needs. Lowrey says some of those include:

• VA benefits. Military veterans may be able to offset nursing home or assisted-living expenses through benefits provided by the U.S. Department of Veteran Affairs. A veteran’s eligibility for long-term care services would be determined based on his or her need for ongoing treatment, personal care and assistance, as well as the availability of the service in the area where the person lives, according to the Department of Veteran Affairs.

Other factors, such as financial eligibility, a service-connected disability, insurance coverage, and/or ability to pay may also come into play.

• Medicaid compliant SPIAs. A SPIA is a single-premium immediate annuity. Typically, a SPIA is a contract with an insurance company where you pay the company a sum of money up front (the premium), and the company promises to pay you a certain amount of money periodically for the rest of your life.

A Medicaid compliant SPIA is a specially designed annuity that pays out over the person’s “life expectancy” and has other specific characteristics. A couple who put money in a Medicaid annuity are able to avoid having the income from that annuity count against the financial assistance a spouse receives for nursing home care.

• Setting up a trust. Trusts can help shelter wealth from the look-back periods in Medicaid requirements and assist in qualifying for VA programs, among other advantages, Lowrey says.

Choose Your Paint with These Fancy Apps

Newton, MA.  

Picking paint at the store can be overwhelming, and sometimes you’re less inspired by a paint chip and more inspired by photos, jewelry or Mother Nature. Now your phone can give you the tools you need to preview colors where and when the mood strikes.

Photo by: iStock

Here are five apps that can help you get the right color on the walls before you buy.

The ColorSmart by BEHR^® Mobile app lets you preview, match and coordinate colors on-the-go. This fun-to-use app puts you in control with handy features like:
• Browsing through the BEHR Premium Plus Ultra® and Premium Plus^® colors collections
• Photo-match to a BEHR color with their proprietary tool
• Preview function to see a color in different rooms and styles
• “Touch-and-tap” technology to paint a room image
• Sharing on Facebook and Twitter
(FREE for iPhone^®, iPad^® or Android^™)

The Benjamin Moore Color Capture^® app makes it simple to snap a picture of anything that inspires you and instantly find its match among the more than 3,500 Benjamin Moore paint colors. Then you can save your pics and their coordinating color matches to your Favorites. Plus, you can:
• Group colors in Favorites to create personalized combos
• Share your favorite colors on social media and email
• Browse Benjamin Moore’s inspirational color cards and access the full color wheel to search colors
(FREE for iPhone^®, iPad^® or Android^™ phones 6.1 or higher)

Besides letting you search by name or browse their library of 1,500 colors, ColorSnap^® for mobile from Sherwin-Williams allows you to create personalized palettes with colors that inspire you. Simply upload an image and this app will instantly match colors in your photo. Then you can edit, delete or add colors to suit your artistic vision— you can even ask Sherwin-Williams for colors that complement your selections. The possibilities are endless with features that help you:
• Fine-tune colors for lightness, saturation and hue
• Get detailed color information such as names, RGB values and LRV numbers
• Save and access your Favorites across devices
(FREE for iPhone^®, iPad^® or Android^™)

With its intuitive navigation, ProjectPaint by Valspar puts over 3,000 Valspar paints right at your fingertips. Swipe, swish and tap through their catalog to choose colors for inside or outside your home, plus get recommendations for coordinating colors. This app even helps you calculate how much paint you’ll need for your project and creates a customized shopping list so you can make just one trip to the store.

Don’t want to limit your color choices to one particular brand? AnyPaintColor by MyPerfectColorlets you search over 130,000 colors from over 100 brands including Martha Stewart and Ralph Lauren. It’s essentially a virtual fan deck that gives you the power to browse colors to your heart’s content without having to set one foot in a store.
($2.99 for iPhone^®, ^iPad®, iPod Touch^®)

The Top 7 Things to Do When You Inherit a Home

The Top 7 Things to Do When You Inherit a Home

Newton, MA.  12:30PM EST

1. Check the title. Make sure that the ownership is in the name it is intended so that it is freely transferable to you.

2. Make sure there are no liens against the property. If work had been done over the years on the property or it was given as collateral against any loan, there may be banking institutions or individuals that have a claim against your inheritance. You will want to research this and settle any claims before you consider or attempt to sell, lease or transfer title to the property. It may also affect the property’s value if somebody else has a claim against it.

3. Get a condition report from a licensed contractor or engineer to see what repairs need to be made. Oftentimes properties that are long-held in families can be—if they are not primary residences -in disrepair. You certainly want to protect the value of any inheritance and even minor repairs can enhance value.

4. If you are considering refurbishing and selling your inheritance, there are small things you can do to enhance the value. Consider a paint job, an upgrade of furniture, fresh flowers throughout if you are going to be showing your property and landscaping is often the first thing folks see when looking at a home so it can be a very worthwhile investment.

5. Modernize where you can. Updating a kitchen or bathroom or even flooring can make a huge difference in how a property appears to others. New drawer handles, doorknobs even small change can revamp the look of s property and bring it up to date.

13,000-Plus Listings Sell Every Day…Is Yours One of Them?

 

=

Mar 05, 2015 09:25 am It’s very exciting when a homeowner entrusts you with the marketing and ultimate sale of their home. Yes, you got a new listing! Fast-forward a couple of weeks or months, and if the listing hasn’t sold, then you have some explaining to do. In a recent Existing-Home Sales Report from the National Association of REALTORS®, annual home sales are listed at 5.04 million homes. In order to put that number into perspective, let’s divide it by 365 days, and you’ll find that there are 13,699 homes sold every day in the United States on average (not accounting for seasonality). With all of these homes selling across the country daily, blaming the economy or the local market for an unsold listing isn’t going to be a strong position with the home seller. It’s far more likely that you’ve made one or more common mistakes when pricing your listing. Here are three common pricing mistakes that prevent listings from selling in a timely manner: 1. Overpricing from the Start It’s extremely common for sellers to overvalue their homes compared to other homes in the same neighborhood and price range. Our job as local market experts is to advise and counsel home sellers on the correct pricing strategy. One of the most important steps in correctly pricing the home is to take an honest look at similar homes in the area that have recently sold. While the seller may feel that their home deserves to command a higher relative sale price, the market determined these comps to be a fair price, so buyers will expect your asking price to be in the same ballpark. An overpriced listing is a sure way to scare off plenty of potential buyers and waste a lot of your time. 2. Ignoring Search Ranges These days, almost every buyer searches for homes online. If a potential buyer searches for homes in the $250,000 to $300,000 price range, they won’t see your listing if it’s priced at $305,000. Even if your listing is a perfect fit for the potential buyer, he or she won’t know about it, even though it’s only $5,000 above their price range search. You want to make sure you’re not pricing your listing just outside of someone’s price range, so be sure to avoid pricing just over common increment breaks. 3. Not Being Open to Offers There’s an old saying in our business that the first offer is the best offer; however, you should advise the seller to carefully consider any and all offers that come in, even if they’re well below your asking price. Negotiation is the name of the game. It’s not where an offer starts, it’s where mutual acceptance ends. Do you want your listing to be one of the 13,000-plus homes that will sell tomorrow? Review your pricing strategy today! Wendy Forsythe is the executive vice president and head of global operations at Carrington Real Estate Services.

 

 

Sick of Ice Dams? It’s Time to Move

Sick of Ice Dams? It’s Time to Move

Call me to discuss getting your house ready for a sale.   617-921-6860

Newton, MA.  10:30 AM EST

WINTER STORM SAFETY: ROOF PROTECTION

BY BETH WEINHOUSE

When it comes to snow and ice, most of us tend to look down — we don’t want to slip on a slick sidewalk, we want to keep our driveways and walkways free of snow, and we’re cautious about driving when the roads are icy. But it’s just as important to look up when snow is a risk — protecting your roof in the winter is just as important as keeping your driveway and sidewalks clear. Many of the roof-protecting recommendations below are best done before storm season even begins, but can be helpful at any point. Even taking precautions a few days before a predicted storm can prevent damage.

1. Keep gutters clear. Make sure your gutters, downspouts, and drains are clear of leaves and other debris before storm season begins. Blocked gutters can cause water to back up and freeze, potentially damaging the roof. Have professionals clear your gutters after most of the leaves have fallen from the trees, or consider installing gutter screens that will prevent blockage.

2. Trim overhanging tree branches. Storms that are accompanied by gusting winds or cause heavy snow or ice to coat trees can result in fallen branches that can damage your home. Before the season starts, trim any low or overhanging branches that look as if they’d be at risk of falling on your house (or cars and power lines). Always be sure to check with local ordinances first to ensure you’re allowed to remove branches from trees near your property.

3. Prevent ice dams. Ice dams form when the heat inside your home causes ice or snow in the middle of your roof to melt and run down to the edges. When the water refreezes there, it creates a blockage that can cause roof leaks, which can damage interior ceilings and walls. To prevent ice dams, keep your attic cool — ideally not more than 5 to 10 degrees warmer than the outside temperature. Good insulation on the attic floor can prevent heat from escaping the house as it rises. Other good preventive steps include sealing vent pipes, exhaust fans, and light fixtures that may transport warm air upward.

4. Remove heavy ice and snow. Most roofs are designed to withstand “normal” amounts of ice and snow in the area where they stand. For instance, roofs in the northern part of the country tend to be sturdier and more steeply sloped, so that less snow or ice accumulates. Most sturdy roofs should be able to support about 20 pounds per square foot of snow before they become stressed. If the amount of snow or ice on the roof becomes worrisome, homeowners can purchase special roof rakes with long handles to remove snow on the roof from the ground. If you’re unable to do this from the ground, it’s a smart idea to hire a professional and avoid the dangers of both climbing onto an icy roof and damaging roof structures.

With a few smart precautions you and your home should get through this winter season safely.

How the Ultra Rich Live

How the Ultra Rich Live

Newton, MA.  11:30 AM EST

 

Did you know…79% of the world’s ultra-high net worth individuals own two or more properties and just over half of them own three or more residences? Explore more like this in our report with Wealth-X:

http://ow.ly/ItBsT

Please Join Us at BenchMark Adelaide in Newton Centre

For an in-depth conversation about financial fraud.

 

Tuesday, September 10th from 5-7

157 Herrick Road, Newton Centre

RSVP: margaret@compass.com or 617-921-6860