Newton, MA. real estate

Open House:5 Richfield Road, West Newton, Sunday, 2/10 from 12:30-2


Newton Top Realtors, Sotheby’s, Compass, Homes for Sale

5 Richfield Road

Upsize, downsize or rightsize to this stylish and elegant Arts and Crafts completely renovated in 2012 with an amazing 1ST FLOOR MASTER SUITE! This sophisticated four-bedroom, 4 1/2 bath home features an open and airy layout. The spacious main level offers an ultra-chic living room with a fireplace, gracious dining room, and chef’s kitchen open to breakfast/family room. The kitchen boasts Miele and Sub Zero appliances, with direct access to a covered mahogany porch. A first-floor master bedroom suite encompasses his and her bathroom, walk-in closet, an additional closet, laundry, and linen closet. The second floor consists of three very spacious bedrooms, two full baths, linen closet, and a second laundry room. Finished LL features a media room with custom bookshelves, full bath, office, and storage. The architect-designed 2012 renovation includes a second-floor addition while baths, systems, roof, windows, and sound system were replaced. Conveniently located to Pike, Commuter Rail, shopping, WN Square, and Newtonville.  Designed by Architect, Kent Duckham.

Home Prices Increase in Every Price Range


NEWTON, MA. REAL ESTATE, TOP BROKERS IN NEWTON, MA. COMPASS, SOTHEBY’S

Home Prices Increase in Every Price Range

Home Prices Increase in Every Price Range | MyKCM

CoreLogic’s Home Price Index (HPI) Report revealed,

National home prices increased 3.6% year over year in July 2019 and are forecast to increase 5.4% from July 2019 to July 2020.

They also analyzed four individual home-price tiers, showing the increase in each.

Here’s the breakdown:

Home Prices Increase in Every Price Range | MyKCM

To clarify the methodology, CoreLogic explains,

“The four price tiers are based on the median sale price and are as follows: homes priced at 75% or less of the median (low price), homes priced between 75% and 100% of the median (low-to-middle price), homes priced between 100% and 125% of the median (middle-to-moderate price) and homes priced greater than 125% of the median (high price).”

What does this mean if you’re selling?Price appreciation can differ depending on your price range. If you’re a homeowner thinking of selling, let’s get together to find out how much your home is increasing in value, so you can price it competitively for today’s market.

CALL ME AT 617.921.6860 OR margaret@compass.com

Is Renting Right for Me?


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

Is Renting Right for Me? | MyKCM

If you’re currently renting and have dreams of owning your own home, it may be a good time to think about your next move. With rent costs rising annually and many helpful down payment assistance programs available, homeownership may be closer than you realize.

According to the 2018 Bank of America Homebuyer Insights Report, 74% of renters plan on buying within the next 5 years, and 38% are planning to buy within the next 2 years.

Is Renting Right for Me? | MyKCM
Is Renting Right for Me? | MyKCM

When those same renters were asked why they disliked renting, 52% said rising rental costs were their top reason, and 42% of renters believe their rent will rise every year. The full results of the survey can be seen below:It’s no wonder rising rental costs came in as the top answer. The median asking rent price has risen steadily over the last 30 years, as you can see below.There is a long-standing rule that a household should not spend more than 28% of its income on housing expenses. With nearly half of renters (48%) surveyed already spending more than that, and with their rents likely to rise again, it’s never a bad idea to reconsider your family’s plan and ask yourself if renting is your best angle going forward. When asked why they haven’t purchased a home yet, not having enough saved for a down payment (44%) came in as the top response. The report went on to reveal that nearly half of all respondents believe that “a 20% down payment is required to buy a home.”

The reality is, the need to produce a 20% down payment is one of the biggest misconceptions of homeownership, especially for first-time buyers. That means a large number of renters may be able to buy now, and they don’t even know it.

Bottom Line

If you’re one of the many renters who are tired of rising rents but may be confused about what is required to buy in today’s market, let’s get together to determine your path to homeownership.
« The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC]

A Tale of Two Markets


Newton,MA, Compass, Sotheby’s #Suburban Boston Team #TopRealtor

A Tale of Two Markets — Absolutely True in Boston Area

A Tale of Two Markets [INFOGRAPHIC] | MyKCM

Some Highlights:

  • 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 and Brookline Real Estate Recap


Newton, MA. Brookline, Sotheby’s Compass, Suburban Boston Team

 

The Rundown

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.

Market Snapshot
Nesting
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 | 

May 18 

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.

Featured Listings
West Newton

The finest example of a Queen Anne on coveted West Newton Hill

Priced at $3,600,000

Margaret Szerlip

617.921.6860

 

margaret@compass.com

© Compass 2019 ¦ All Rights Reserved by Compass ¦ Made in NYC

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

What Would Make You Sell Your House?


Newton, MA. Newton Top Realtor, Sotheby’s, COMPASS, Suburban Boston Team

What Would Make You Sell Your House?

What Would Make You Sell Your House? | MyKCM

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.

What Would Make You Sell Your House? | MyKCM

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.

What Would Make You Sell Your House? | MyKCM

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?

Bottom Line

Let’s get together to set you on the path to selling your current house and finding the home that fits your needs, today!

 

Buyer Demand Surging as Spring Market Begins


Newton, MA, Compass, Sotheby’s Newton’s Top Brokers

Buyer Demand Surging as Spring Market Begins

Buyer Demand Surging as Spring Market Begins | MyKCM

Last fall, some predicted that the 2019 residential real estate market would be a disaster. There was even belief we might experience a housing crash like the one that occurred during the last decade.

However, according to two separate reports*, buyer demand dramatically increased over the last three months, leading into this spring buyers’ market (the March data is not yet available).

Both the ShowingTime Showing Index and the National Association of REALTORS Buyer Traffic Index show that buyer demand has increased in each of the last three months.

Buyer Demand Surging as Spring Market Begins | MyKCM

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.”

Bottom Line

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.”