Margaret Szerlip

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!
Advertisements

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

 

 

 

 

 

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 Must-Haves of Millennial Home Buyers


5 Must-Haves of Millennial Buyersopen concept

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.

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

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.”

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

Why Waiting To Buy Might Not Make Sense | Keeping Current Matters

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: Cost Of Waiting Spring 250K | Keeping Current Matters 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:Cost Of Waiting Spring 500K | Keeping Current Matters

Bottom Line

With both home prices & interest rates projected to increase, waiting to buy could put a serious dent in your family’s wealth.

Choose Your Paint with These Fancy Apps


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®)

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

National Realty Investment Advisors, LLC (NRIA, LLC)

National Realty Investment Advisors, LLC (NRIA) is a project management firm that coordinates the financing, construction, tenanting, and resale of 100% new construction, luxury investment townhomes for qualified investors.

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

Sarah Winchester

photography, style, graphic design, interior design and all that inspires me

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

%d bloggers like this: