Newton, MA. real estate

What If I Wait Until Next Year to Buy a Home?


Newton, MA. Real Estate, Top Newton Realtors,  Top20Boston, Compass, Sotheby’s

 

What If I Wait Until Next Year to Buy a Home?

What If I Wait Until Next Year to Buy a Home? | MyKCM

We recently shared that national home prices have increased by 6.7% year-over-year. Over that same time period, interest rates have remained historically low which has allowed many buyers to enter the market.

As a seller, you will likely be most concerned about ‘short-term price’ – where home values are headed over the next six months. As a buyer, however, you must not be concerned about price, but instead about the ‘long-term cost’ of the home.

The Mortgage Bankers Association (MBA), Freddie Mac, and Fannie Mae all project that mortgage interest rates will increase by this time next year. According to CoreLogic’s most recent Home Price Index Reporthome prices will appreciate by 5.2% over the next 12 months.

What Does This Mean as a Buyer?

If home prices appreciate by 5.2% over the next twelve months as predicted by CoreLogic, here is a simple demonstration of the impact that an increase in interest rate would have on the mortgage payment of a home selling for approximately $250,000 today:

What If I Wait Until Next Year to Buy a Home? | MyKCM

Bottom Line

If buying a home is in your plan for this year, doing it sooner rather than later could save you thousands of dollars over the terms of your loan.

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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!

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. 

OPEN HOUSE Sunday, May 17th from 12-1:30 1592 Commonwealth Ave, Newton, MA


OPEN HOUSE Sunday 12-1:30 1592 Commonwealth Ave, Newton, MA050   BostonRealEstateMedia com

 

The flowers have bloomed, the pool and hot tub are open…come see this very special home

 

 

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.”

3 CLIENTS ALL IN ONE ARTICLE IN THE BOSTON GLOBE


3 CLIENTS ALL IN ONE ARTICLE IN THE BOSTON GLOBE

Erin Gates: Designer and Elements of Style Blogger and Author

Sarah Winchester: Photographer Extraordinaire

Dina Cirimboli: Owner

Newton, Sotheby’s Realty, Top Newton Brokers

ErinGatesDesignDinasGirlsStudy(2015)-5 copy

I was so excited to have this special little space I designed featured in the Boston Globe Magazine this weekend (shot by the wonderful Sarah Winchester)!  This room was for a long time client (whose house is in my book) that needed a study space for her daughter as well as a second guest room, and I think we succeeded on both fronts!

IMG_1665

A daybed from Restoration Hardware anchored the room and gave us ample floor space for the other elements we needed to incorporate into the space.  We used Farrow & Ball’s Lotus wallpaper behind the bed for some drama and installed two brass sconces from Circa Lighting for ample direct reading light. All the pillows were custom as were the cuffed drapes.

ErinGatesDesignDinasGirlsStudy(2015)-1-1 copy

ErinGatesDesignDinasGirlsStudy(2015)-4

In between the draped windows we used a tall skinny bookshelf for book storage ( lots of the accessories I found at Homegoods).

ErinGatesDesignDinasGirlsStudy(2015)-2-1 copy

Across from the bed we used a West Elm dining table as a double desk so two chairs could face each other for when help was needed at homework time.

ErinGatesDesignDinasGirlsStudy(2015)-3-1 copy

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