Newton,MA, Compass, Sotheby’s #Suburban Boston Team #TopRealtor
A Tale of Two Markets — Absolutely True in Boston Area
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.
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.”
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, MA. Brookline, Sotheby’s Compass, Suburban Boston Team
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.
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 |
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.
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
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?
Let’s get together to set you on the path to selling your current house and finding the home that fits your needs, today!
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.”
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.”
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.
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.)
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.)
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.)
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.)
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.)
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.)
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.)
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.)
Newton, MA. Compass, Sotheby’s Newton’s Top Brokers, Real Estate, Greater Boston
Home Buyer Demand Will Be Strong for Years to Come
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.”
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!