Buyers Agent

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:050   BostonRealEstateMedia com

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.001   BostonRealEstateMedia com003   BostonRealEstateMedia com006   BostonRealEstateMedia com013   BostonRealEstateMedia com011   BostonRealEstateMedia com019   BostonRealEstateMedia com027   BostonRealEstateMedia com036   BostonRealEstateMedia com048   BostonRealEstateMedia com047   BostonRealEstateMedia com

 

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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

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

Clean_Slate_Inherit_a_Home

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?


 

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

Mar 05, 2015 09:25 am

listings_sell

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.

 

 

 

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

'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'

Sotheby’s Significant Sales


Just a little something to make you smile.

 

Sotheby’s Significant Sales

Real Estate 101 — Supply and Demand


 

Two Graphs that Scream – List Your Home Today!

Real Estate 101 — It’s a supply and demand business.

Two Graphs that Scream - List Your Home Today | Keeping Current Matters

We all learned in school that when selling anything, you will get the most money if the demand for that item is high and the inventory of that item is low. It is the well-known Theory of Supply & Demand. If you are thinking of selling your home, here are two graphs that strongly suggest that the time is now. Here is why…

DEMAND

According to research at the National Association of Realtors (NAR), buyer activity last month (January) was three times greater than it was last January. Purchasers who are ready, willing and able to buy are in the market at great numbers.Buyer Demand | Keeping Current Matters

SUPPLY

The most recent Existing Home Sales Report from NAR revealed that the months’ supply of housing inventory had fallen to 4.4 months which is the lowest it has been in over a year. Months Inventory of Homes for Sale | Keeping Current Matters

Bottom Line

Listing your house for sale when demand is high and supply is low will guarantee the offers made will truly reflect the true value of your property.


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