Day: March 9, 2015

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


Protecting Your Nest Egg as You Age

 Newton, MA.  10:15AM EST

Retirement savings golden nest eggPeople 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.