MA. Top Realtor

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.

Home Prices Have Appreciated 6.9% in 2018 | MyKCM

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%.

Home Prices Have Appreciated 6.9% in 2018 | MyKCM

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!

Home Prices Have Appreciated 6.9% in 2018 | MyKCM

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!

Should Boomers Buy or Rent after Selling?


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

Should Boomers Buy or Rent after Selling?

Should Boomers Buy or Rent after Selling? | MyKCM

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…
       

 

 

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.

Newton Is Still A Seller’s Market


Newton’s Top Agent, Compass, Sotheby’s, Newton, MA., West Newton Hill

 

Newton continues to be a seller’s market with the exception of the over 2 million price points.  In the past 2 weeks, 43 new homes were listed with 47 going under agreement during the same period. Currently, there are only 127 single family homes for sale and only 15 are under 1 million dollars!!! There are 5 homes priced between 1 and 2 million, 34 between 2 and 3 million, 15 between 3 and 4 million, 5 between 4 and 5 million and a whopping 7 houses priced between 5 and 8 million dollars!  These numbers are astronomically inflated.  In the past 5 years only 67 houses have sold in Newton over 3 million dollars yet as of today there are 30 listed over 3 million.  Something has to give and my guess is it will be the price.  Only 4 houses have topped 6 million dollars, ever.

On-Market Snapshot
Report Run: 4/24/2018 4:28:31 PM
Property Type(s): SF
Snapshot Date: 4/24/2017
Towns: Newton
 4/24/2017  4/24/2018
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 74
$400,000 – $449,999 1 52
$450,000 – $499,999
$500,000 – $599,999
$600,000 – $699,999 1 6 3 5
$700,000 – $799,999 2 4 3 25
$800,000 – $899,999 6 18 3 113
$900,000 – $999,999 4 23 5 45
$1,000,000 – $1,499,999 22 57 20 32
$1,500,000 – $1,999,999 13 48 30 29
$2,000,000 – $2,499,999 12 54 21 131
$2,500,000 – $2,999,999 14 86 14 94
$3,000,000 – $3,999,999 14 133 15 77
$4,000,000 – $4,999,999 4 200 5 195
$5,000,000 – $9,999,999 4 291 7 101
Over $10,000,000
Total Properties 97 Avg. 81 127 Avg. 72
Lowest Price: $427,900
Median Price: $1,999,000
Highest Price: $8,980,000
Average Price: $2,369,563
Total Market Volume: $229,847,665
Lowest Price: $379,900
Median Price: $1,999,000
Highest Price: $8,300,000
Average Price: $2,351,654
Total Market Volume: $298,660,095
©2018 MLS Property Information Network, Inc.  |  Copyright Policy 3828 users online right now!

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

patch

 

 

 

 

 

Survey Says Millennials Want To Live In New York, What Does Research Say?


Newton, MA. Top Realtor,  Compass Massachusetts Realtor, Newton, MA. Homes for Sale

Survey Says Millennials Want To Live In New York, Research Suggests They Should Live In Philadelphia…Hmm?

Philadelphia (Shutterstock)

In a recent survey one-in-five Millennials said New York is their ideal city. Less than 1% said the same of Philadelphia. Ironically, however, the city of Ben Franklin and cheesesteaks outranks its more popular brethren when it comes to qualities the young purport to value.

Millennial-run apartment search site Abodo set out to determine what their generational-peers look for in a city to call home by surveying 2,000 people born between 1982 and 1998. Respondents rated 20 qualities on a 1 to 10 scale, with 10 connoting the highest importance.

It turns out, the top three qualities Millennials want in a city are economic in nature: a thriving job market (average score: 8.19), affordable rent (7.94) and affordable home prices (7.55). Beyond those core three, the ratings for quality of life metrics were fairly evenly dispersed. Rounding out the top third of the list were parks or hiking trails (6.52), non-chain restaurants (6.49) and quality pizza (6.11). Meanwhile, items ranging from top-rate public schools (6.07) to an LGBTQ-friendly environment (5.47) to access to music venues (5.38) all have above average ratings. In fact, the only quality not achieving a score greater than five was the presence of a local college or university (4.99).

To Sam Radbil, communications manager at Abodo, the survey shows “Millennials are career driven.” He added, “Despite Millennials’ reputation for being lazy or entitled they care about the job market and their careers. They are looking for a place that is affordable.”

Interesting distinctions arise when the group is divided by age range, comparing 18-to-22 year-olds with 23-to-28 year-olds and 29-to-34 year-olds. Employment and housing are key concerns among all three groups, though affordable rent outranks job prospects only for the youngest cohort.

Recommended by Forbes

Home Is … Where The Parents Are? Young Adults Officially More Likely To Live…
Don’t Blame Student Debt For The Lack Of Millennial Home Ownership
The States With The Best And Worst Economies
Jobs Report: U.S. Adds Just 38,000 Jobs In May, Unemployment Rate Down To …

MOST POPULAR

Photos: The Richest Person In Every State

TRENDING ON FACEBOOK

WWE Raw Results: The Case For The Undertaker Winning The 2017 Royal Rumble

MOST POPULAR

Photos: The World’s Highest-Paid Models 2016

MOST POPULAR

Super Mario Run Is Coming To Ios On December 15

For the oldest group home purchase price becomes more important than rental prices. While unsurprising, the differences among age groups do reflect recent trends. After years of hand-wringing over whether young people would participate in this traditional rite of passage, surveys suggest Millennials do want to buy and that as they get older they are taking the ownership plunge. According to the National Association of Realtors, Millennials now make up the largest share of home buyers at 35%. The median age of a first time buyer is currently 31.

(Courtesy Abodo)

When it comes to location, nearly 20% of people surveyed list New York as their perfect city. Next up is San Francisco at 10%, Seattle and Portland at 9% and Los Angeles at nearly 8%. All of these cities have 80% or more of the 20 qualities Abodo pegged as important and most have several of the traits Millennials value highest. By Adodo’s calculations, however, several cities that barely registered with the survey-group may have more of what the generation is looking for, including Philadelphia (which got top city rating from just 0.89% of people), Washington D.C. (1.36%) and Boston (2.3%).

The company judged Philadelphia as the best city for Millennials in part due to solid marks on job market (the Philadelphia region’s unemployment rate was 20 basis points below the national average when the data was pulled) and average home prices (sale and rental) of at or below 30% of average income.

(Courtesy Abodo)

Of course, some of the metrics are subjective–a New Yorker may not agree Philadelphia has quality pizza. (Disclosure: the author of this post lives in New York, went to college in Philadelphia and has strong feelings about pizza.) But the survey’s broader point–that places you’ve never thought of may have exactly what you’re looking for–remains indisputable.

10 Home Renovations That Offer the Best (and Worst) Return on Investment


Newton, MA.  Homes for Sale,  Newton Top Brokers Margaret Szerlip, West Newton Hill

10 Home Renovations That Offer the Best (and Worst) Return on Investment

This was posted in Realtor.com–not sure I agree with some of these….what do you think?

Remodeling may be a labor of love, but it’s also an investment that can seriously boost the value of your home.  Only by how much? Well, according to Remodeling magazine’s 2016 Cost vs. Value Report, you’ll recoup an average of 64% of what you paid for a renovation if you sell your home this year.

To arrive at these figures, Remodeling asked consultants in various markets to estimate the average cost for 30 home improvement projects, from adding a bathroom to replacing a roof. Then, they asked real estate agents nationwide to estimate the expected resale value of these renovations so that readers could compare their out-of-pocket costs to how much money they’d get back when it came time to sell their home.

So, what projects gets you the most bang for your home renovation buck? It may not be nearly as sexy (or fun!) as adding a chef’s kitchen or glam bathroom, but attic insulation gets the top spot. That’s right: Stuff some fiberglass insulation into the walls of a 35-by-30-foot attic, and you’ll pay an average of $1,268. But when you sell, you will rake in $116.90 for every $100. For you math-challenged out there, that’s a recoup of 116.9% of your costs. It’s the only home reno on this year’s report that redeems more money than you spend!

 

The next best-paying renovation on the list: manufactured stone veneer, offering a respectable 92.9% return.Meanwhile—sorry, luxury tub fans—the home improvement project that reaps the worst ROI is the addition of a bathroom, at 56.2% (although the “added value” of an extra bathroom for anyone who’s ever had to wait their turn for one is, of course, priceless).

Take-home lesson? If you’re looking for a general rule of thumb, it’s that less is more: Lower-cost projects  generally reap bigger returns, with four of the five projects that cost less than $5,000 ranking among the top five for money back when you sell.

Check out the best (and worst) returns for home renovations in the two charts below, including how much you’ll pay and get back if you sell your home this year.

———

5 Tips For Lightening Your Living Space


5 Tips for Lightening Your Living Space

 

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

white paint

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 almost white. Well this is an obvious one. From walls to wood paneling and hardwood floors, two coats of light neutral 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. 

Steve Blank

Entrepreneurship and Innovation

247NewsFinance

247 News Finance

Szerlip's Real Estate Blog

Realtor: Newton, West Newton Hill, Brookline, Chestnut Hill, Weston and Wellesley, MA. Real Estate

TechCrunch

Startup and Technology News

Koke's Journal

Mobile Engineer @ Automattic, making WordPress for iOS

The Wellesley Real Estate Blog

Everything You Wanted to Know About Wellesley, Weston, Dover, Needham, Metrowest

Elements of Style Blog

Realtor: Newton, West Newton Hill, Brookline, Chestnut Hill, Weston and Wellesley, MA. Real Estate

Panning The Globe

Food Blog with great recipes from around the world

SvR Designs

Decorative painting, faux finishing and design.

MassLawBlog.Com

This site focuses on Gesmer's practice areas (IP, business litigation, Internet Law, antitrust and practice in the Massachusetts state and federal courts).

Project Instead

What's Your Instead?

Wmontero's Blog

Just another WordPress.com site

Gardeninaday's Blog

Just another WordPress.com site

newtonmassrealestate

Just another WordPress.com site

My Blog

Just another WordPress.com site

Allison Blank Real Estate

newton and brookline home and life

The Gates Report

Free advice for companies and their customer service

%d bloggers like this: