sothebys realty

Merry Christmas


Newton, MA.  December 24, 2014

 

Best Wishes for a very Merry Christmas.  May your presence mean more than your presents in you loved one’s lives.

xoxo Margaret

Cleveland Circle Will Finally Be Developed


Boston Business Journal shared by Margaret Szerlip November 19, 2014 Newton, MA.  Keep Calm and Sell Real Estate
Some established players are teaming up to redevelop site of the former Circle Cinema at the corner of Beacon Street and Chestnut Hill Avenue in Boston.
Boston Development Group and National Development said in a news release that they’re forming a joint venture to do the work and that Charles River Realty Investors will provide the capital.
Ted Tye, managing partner of National Development, said in a prepared statement: “We are pleased to help bring development of this landmark site to fruition. There has been a great deal of effort put forth to date from the City of Boston, Town of Brookline, and the local community. Our combined team will work to move the project forward, with an anticipated mid-2015 construction start.”
BDG’s project manager on the job is John Meunier.
According to this week’s prepared statement, the project will be “similar” to a previously proposed 162-guest-room, 92-residential unit project. There also is likely be retail fronting to Chestnut Hill Avenue.
Despite proximity to Boston College, or perhaps because of it, the residential units will be off-limits to younger renters. The developers said in their news release that the project will be age-restricted “in part to address neighborhood comments.”
“We see a huge need for urban residential alternatives for active senior adults,” Tye said.
The architect for the project, according to the news release, will be Elkus Manfredi Architects. Stantec is set to do civil engineering. Cranshaw Construction of Newton is involved in early work.

Bi-Monthly Newton, MA. Real Estate Recap


Bi-Monthly Newton, MA. Real Estate Recap  Newton, MA.  Top Brokers, Sotheby’s Newton, MA.

Posted October 24, 2014 by Margaret Szerlip Newton, MA.

 

The fall market is very busy here in Newton — the reason I have not been posting as often as I’d like.  Current inventory is still below normal.  We have a total of 167 properties for sale vs. 175 3 weeks ago and down from a “normal” 200 homes.  83 homes have gone under contract or have accepted offers in the last 3 weeks!  The hottest segment of the market is homes priced between 1 million to 1.5 million with 17 homes in contract.  9 homes priced over 2 million have also gone under contract in the same time period.  That is very welcome news that the high-end of the market is starting to heat up.  26 homes have closed, again the 1 million to 1.5 million had the highest number of homes close at 9.

Remember the spring market in Newton starts the end of January early February here in Newton.  So if you’re considering a sale call me for an analysis sooner than later.

On-Market Snapshot
Report Run: 10/24/2014 11:41:22 AM
Property Type(s): SF
Snapshot Date: 10/24/2014
Towns: Newton
 10/24/2014  10/24/2014
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 1 14 1 14
$500,000 – $599,999 5 34 5 34
$600,000 – $699,999 11 34 11 37
$700,000 – $799,999 9 47 9 47
$800,000 – $899,999 9 66 9 70
$900,000 – $999,999 8 61 8 61
$1,000,000 – $1,499,999 34 67 34 67
$1,500,000 – $1,999,999 26 115 26 116
$2,000,000 – $2,499,999 27 114 27 114
$2,500,000 – $2,999,999 21 116 21 116
$3,000,000 – $3,999,999 10 177 10 177
$4,000,000 – $4,999,999 3 84 3 84
$5,000,000 – $9,999,999 3 184 3 184
Over $10,000,000
Total Properties 167 Avg. 92 167 Avg. 93
Lowest Price: $474,900
Median Price: $1,599,000
Highest Price: $6,950,000
Average Price: $1,867,799
Total Market Volume: $311,922,470
Lowest Price: $474,900
Median Price: $1,599,000
Highest Price: $6,950,000
Average Price: $1,867,799
Total Market Volume: $311,922,470

 

 

Pending Statistics
Report Run: 10/24/2014 11:39:03 AM
Property Type(s): SF
Start Date: 10/06/2014
End Date: 10/24/2014
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 3 2 1
$500,000 – $599,999 7 2 3 1 1
$600,000 – $699,999 6 4 1 1
$700,000 – $799,999 4 2 2
$800,000 – $899,999 7 5 2
$900,000 – $999,999 3 2 1
$1,000,000 – $1,499,999 10 7 2 1
$1,500,000 – $1,999,999 5 5
$2,000,000 – $2,499,999 3 2 1
$2,500,000 – $2,999,999 1 1
$3,000,000 – $3,999,999 1 1
$4,000,000 – $4,999,999
$5,000,000 – $9,999,999
Over $10,000,000
Total Properties 50 33 13 1 3
Lowest Price: $465,000 Median Price: $889,000
Highest Price: $3,795,000 Average Price: $1,127,973
Total Market Volume: $56,398,698

 

Total Sold Market Statistics
Report Run: 10/24/2014 11:42:37 AM
Property Type(s): SF
Status: SLD
Start Date: 10/06/2014
End Date: 10/24/2014
Towns: Newton
Price Range # of
Listings
Avg. Days
on Market
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
$50,000 – $99,999 0 0 $0 $0 0 $0 0
$100,000 – $149,999 0 0 $0 $0 0 $0 0
$150,000 – $199,999 0 0 $0 $0 0 $0 0
$200,000 – $249,999 0 0 $0 $0 0 $0 0
$250,000 – $299,999 0 0 $0 $0 0 $0 0
$300,000 – $349,999 0 0 $0 $0 0 $0 0
$350,000 – $399,999 0 0 $0 $0 0 $0 0
$400,000 – $449,999 0 0 $0 $0 0 $0 0
$450,000 – $499,999 0 0 $0 $0 0 $0 0
$500,000 – $599,999 4 26 $538,400 $533,725 101 $539,725 100
$600,000 – $699,999 2 30 $651,000 $662,000 98 $675,000 97
$700,000 – $799,999 4 51 $739,750 $746,500 99 $746,500 99
$800,000 – $899,999 3 16 $844,500 $786,667 107 $786,667 107
$900,000 – $999,999 2 51 $937,500 $954,950 98 $949,450 99
$1,000,000 – $1,499,999 9 46 $1,111,978 $1,086,889 103 $1,119,222 100
$1,500,000 – $1,999,999 2 60 $1,737,500 $1,812,500 96 $1,812,500 96
$2,000,000 – $2,499,999 0 0 $0 $0 0 $0 0
$2,500,000 – $2,999,999 0 0 $0 $0 0 $0 0
$3,000,000 – $3,999,999 0 0 $0 $0 0 $0 0
$4,000,000 – $4,999,999 0 0 $0 $0 0 $0 0
$5,000,000 – $9,999,999 0 0 $0 $0 0 $0 0
$10,000,000 – $99,999,999 0 0 $0 $0 0 $0 0
Total Properties 26 Avg. 41 $934,842 $927,762 101 $940,454 100
Lowest Price: $519,000 Median Price: $888,500
Highest Price: $1,800,000 Average Price: $934,842
Total Market Volume: $24,305,900

22 Lenox Closed $2,241,000


Top Brokers, Newton, MA.  Sotheby’s Realty Newton, MA.  September 22, 2014

Congrats to the sellers (Credere Ventures LLC) of 22 Regent Street, West Newton…Best wishes to Sean and Dao…we wish them much happiness in their new home.

Chic and Stylish Total Renovation

Chic and Stylish Total Renovation

Home Prices Since the Peak — Top 20 Cities


Newton,. MA.  Top Realtors, Sotheby’s Newton, MA.

 

We are lucky here in Boston

Home Prices Since Peak | Keeping Current Matters

Selling Your House? 5 Reasons to Do It Now!


Newton, MA. real estate, Newton, MA. Top Brokers

Selling Your House? 5 Reasons to Do It Now!

Posted: 21 Jul 2014 04:00 AM PDT

Selling Your House? 5 Reasons to Do It Now! | Keeping Current Matters

Many sellers are still hesitant about putting their house up for sale. Where are prices headed? Where are interest rates headed? Can buyers qualify for a mortgage?  These are all valid questions. However, there are several reasons to sell your home sooner rather than later. Here are five of those reasons.

1. Demand is Strong

There is currently a pent-up demand of purchasers as many home buyers pushed off their search this past winter & early spring because of extreme weather. According to the National Association of Realtors (NAR), the number of buyers in the market, which fell off dramatically in December, January and February, has begun to increase again over the last few months. These buyers are ready, willing and able to buy…and are in the market right now!

2. There Is Less Competition Now

Housing supply is still under the historical number of 6 months’ supply. This means that, in many markets, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.

There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as prices increased over the last eighteen months. Many of these homes will be coming to the market in the near future. Also, new construction of single-family homes is again beginning to increase. A recent study by Harris Poll revealed that 41% of buyers would prefer to buy a new home while only 21% prefer an existing home (38% had no preference).

The choices buyers have will continue to increase over the next few months. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

One of the biggest challenges of the 2014 housing market has been the length of time it takes from contract to closing. Banks are requiring more and more paperwork before approving a mortgage. As the market heats up, banks will be inundated with loan inquiries causing closing timelines to lengthen.  Selling now will make the process quicker and simpler.

4. There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 19% from now to 2018. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30 year housing expense with an interest rate in the low 4’s right now. Rates are projected to be over 5% by the end of next year.

5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take back control of the situation by putting your home on the market and pricing it so it sells. Perhaps, the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

_____________________________________________________________________

2014 Summer Seller Guide Available Now! | Keeping Current Matters

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Earning the Trust of Seniors in Real Estate Transactions


Earning the Trust of Seniors in Real Estate Transactions   Newton, MA.  Real Estate  Sotheby’s Realty Newton, MA.

 

Senior real estate picture

Last year my 87-year-old mother-in-law decided it was time to go to an Independent Living Community.  She had a few falls, which resulted in a broken hip from one fall and broken ribs from another.  We tried to convince her that living alone was no longer a viable option but she would have none of it.  One day I said to her wouldn’t you rather go on your own terms, pick the place you are going to live instead of us deciding?  A few weeks later she decided to take the plunge, but bear in mind this conversation had been ongoing for well over a year.  My husband and I went down to NJ and visited a few places that she knew about.  It’s amazing how you know as soon as you walk in the door!  It also didn’t hurt that her 91-year-old “friend” lived in this complex.

We met with management and we were shown a few apartments.  She already knew which building she wanted to live in and why so that was a huge help.  After the viewings as they were called, (seemed like a term for a wake to me) we were led back to an office.  I want to caution you here – make sure you or your parents understand that this is a hard sell!  My mother–in– law is no slouch but wow, she was flustered.  This is a buy in option Independent Living so the dollars we are talking is not chump change.  My mother-in-law wanted a specific apartment we saw and she was pressured into making a decision right there to secure her apartment.  We told mom that we would go to lunch and talk it over and come back in 2 hours.  Since they had no viewing appointments scheduled we thought it was unlikely that ‘her” apartment would be gone.

Mom took the apartment, has moved in, and loves it!  She says she was sorry she hadn’t done it sooner.  She also says she never could have made the move without us.  Mom is fortunate that she could buy her new place without having to sell her current condo.  Since I have lived in Boston for 20 years I didn’t know a Realtor in Morristown, NJ but the Independent Living Community recommended a Broker for mom.  The Realtor showed up at the appointed time, took as mom said, the nickel tour, and immediately whipped out her measuring laser!  As she was relaying this story to me, I was dumbfounded!  Mom said she was very efficient!  She brought her into the kitchen and handed her a contract to sign before she even did an analysis.   She told her that they would fill the price in later.  I was so relieved she didn’t sign!  When I asked her if she liked the broker she kept saying that she was very efficient and seemed capable.  I pressed further do you trust the broker?  The truth was she didn’t, she said there was something pushy about her as if she just assumed she would be selling the condo.  I told her to sleep on it but that she should interview other brokers.  I made a call to the manager of an office in Morristown, told him where Mom lived and her personality.  He immediately mentioned a Broker: Maggie Sellers.

Maggie went over to meet with mom and they hit it off beautifully.  Maggie understood mom’s needs and most importantly knew the neighborhood, the complex and the town.  Maggie had the analysis in 36 hours, she went over and sat with mom to make sure she understood the comps and how she came up with the price.  It was now 5 days since pushy broker came and mom still didn’t have the analysis.   Mom called pushy and was told she was a busy broker and highly respected by the Independent Living Community and she should be assured that she would get to her, her house would be sold and she should relax!  What?  After 10 days pushy dropped the analysis in the mailbox!  It was considerably higher than Maggie’s analysis.  I had Maggie and pushy e-mail me their comps and tried to figure out the discrepancy.  I have not lived in NJ for 20 years and I never lived in Morristown but it took me two minutes to figure out the problem.  Pushy used comps that weren’t comps for mom’s unit.  She used new construction and single-family homes along with similar condos  There had been enough sales in Mom’s complex in the past 6 months and there were two units currently listed.  Pushy did not understand the market or didn’t think she needed to.  After all she is the recommended broker for the Independent Living community for sellers in the greater Morristown area of which she gives 25% of her commission back to the IL Community not to the seller!

The point is mom felt an immediate connection with Maggie.  Maggie asked  mom if she could involve me in the process.  Maggie had worked with seniors and had an elderly mother of her own.  Maggie cared about her; Maggie had a list of people who bought items that the children didn’t want.  (My basement is loaded with china and silver that she hopes her grandchildren will want.)  Maggie recommended movers, and when an unknown problem was revealed at the inspection, she had trusted people to remedy the problem.

I asked Mom what she liked about Maggie and she was very clear.  While she felt the other agent was competent and successful, she didn’t necessarily think that they were a good fit.  She said she probably would have hired her if I had not gotten involved because she did not know any better.  She had a list of what she liked about Maggie.

  1.  Asked Me what I wanted
  2. She was prepared and did what she said she would do
  3. Treated me like an adult who was still capable of making decisions
  4. She wanted to introduce herself to my kids
  5. Let me make the final decision
  6. Had a list of companies to help facilitate the move and she had already vetted them
  7. Thoroughly explained the process without rushing me to sign paperwork
  8. I LIKED HER

                                                               

As a Realtor serving seniors, it is important that I understand that what makes a great partnership is in the eyes of our clients.  If you are not comfortable, there are many agents out there who will make you comfortable.

 

A good Realtor will make the process about you  and your needs.independt living pictureas