Margaret Szerlip

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!

 

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!

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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.

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.

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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.

———

Best Cities for Job-Seekers


Newton’s Top Agent’s Newton, MA. Real Estate, Newton, MA. Realtors

 

Thought you might find this interesting

Looking for a job? Whether you just graduated or are simply looking to make a change, it might be time to reconsider your location — not all cities are cre

Source: Best Cities for Job-Seekers

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

 

 

Bi-Monthly Newton Real Estate Recap


Bi-Monthly Newton Real Estate Recap

Newton, MA.  10:45 EST  Newton’s Top Brokers, Sotheby’s Realty, Newton, MA.

The real estate market is busy!  There are at total of 130 single family homes currently for sale in Newton, up from 113 two weeks ago.  67 new properties came on the market across all price ranges in the past 2 weeks!  52 homes went Unger Agreement in that same time period with the 1 million to 2 million remaining the most active with 28.  The condo market remains STRONG!  Sellers’ there are so many buyers clamoring for the same house, so list yours if you are thinking about it!

 

On-Market Snapshot

Report Run: 5/11/2015 10:35:20 AM
Property Type(s): SF
Snapshot Date: 04/27/2015
Towns: Newton
 04/27/2015  5/11/2015
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
$500,000 – $599,999 4 61 5 58
$600,000 – $699,999 1 5 7 10
$700,000 – $799,999 3 21 4 10
$800,000 – $899,999 3 89 6 62
$900,000 – $999,999 5 18 3 9
$1,000,000 – $1,499,999 25 31 32 33
$1,500,000 – $1,999,999 27 68 25 67
$2,000,000 – $2,499,999 15 140 14 150
$2,500,000 – $2,999,999 20 143 18 118
$3,000,000 – $3,999,999 9 78 12 62
$4,000,000 – $4,999,999 1 12 4 23
$5,000,000 – $9,999,999
Over $10,000,000
Total Properties 113 Avg. 79 130 Avg. 66
Lowest Price: $519,000
Median Price: $1,780,000
Highest Price: $4,000,000
Average Price: $1,948,054
Total Market Volume: $220,130,153
Lowest Price: $519,000
Median Price: $1,704,999.50
Highest Price: $4,650,000
Average Price: $1,903,738
Total Market Volume: $247,485,940
Pending Statistics
Report Run: 5/11/2015 10:36:12 AM
Property Type(s): SF
Start Date: 04/27/2015
End Date: 05/11/2015
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
$500,000 – $599,999 1 1
$600,000 – $699,999 4 3 1
$700,000 – $799,999 4 1 3
$800,000 – $899,999 4 3 1
$900,000 – $999,999 6 3 3
$1,000,000 – $1,499,999 14 8 4 2
$1,500,000 – $1,999,999 14 8 6
$2,000,000 – $2,499,999 3 3
$2,500,000 – $2,999,999 2 1 1
$3,000,000 – $3,999,999
$4,000,000 – $4,999,999
$5,000,000 – $9,999,999
Over $10,000,000
Total Properties 52 27 23 0 2
Lowest Price: $595,000 Median Price: $1,287,000
Highest Price: $2,999,999 Average Price: $1,369,605
Total Market Volume: $71,219,486

 

Total Sold Market Statistics
Report Run: 5/11/2015 10:37:09 AM
Property Type(s): SF
Status: SLD
Start Date: 04/27/2015
End Date: 05/11/2015
Towns: Newton
Price Range # of
Listings
Avg. Days
on Market
Avg. Days
to Offer
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 0
$50,000 – $99,999 0 0 0 $0 $0 0 $0 0
$100,000 – $149,999 0 0 0 $0 $0 0 $0 0
$150,000 – $199,999 0 0 0 $0 $0 0 $0 0
$200,000 – $249,999 0 0 0 $0 $0 0 $0 0
$250,000 – $299,999 0 0 0 $0 $0 0 $0 0
$300,000 – $349,999 0 0 0 $0 $0 0 $0 0
$350,000 – $399,999 0 0 0 $0 $0 0 $0 0
$400,000 – $449,999 0 0 0 $0 $0 0 $0 0
$450,000 – $499,999 0 0 0 $0 $0 0 $0 0
$500,000 – $599,999 0 0 0 $0 $0 0 $0 0
$600,000 – $699,999 2 12 5 $669,750 $612,000 110 $612,000 110
$700,000 – $799,999 2 16 3 $735,000 $724,500 101 $724,500 101
$800,000 – $899,999 0 0 0 $0 $0 0 $0 0
$900,000 – $999,999 0 0 0 $0 $0 0 $0 0
$1,000,000 – $1,499,999 5 26 6 $1,273,200 $1,227,600 105 $1,227,600 105
$1,500,000 – $1,999,999 5 128 45 $1,748,794 $1,754,600 100 $1,795,600 98
$2,000,000 – $2,499,999 3 119 79 $2,102,333 $2,198,300 96 $2,231,633 94
$2,500,000 – $2,999,999 0 0 0 $0 $0 0 $0 0
$3,000,000 – $3,999,999 0 0 0 $0 $0 0 $0 0
$4,000,000 – $4,999,999 1 24 24 $4,000,000 $4,500,000 89 $4,500,000 89
$5,000,000 – $9,999,999 0 0 0 $0 $0 0 $0 0
$10,000,000 – $99,999,999 0 0 0 $0 $0 0 $0 0
Total Properties 18 Avg. 67 Avg. 29 $1,568,137 $1,593,272 101 $1,610,217 100
Lowest Price: $662,000 Median Price: $1,509,485
Highest Price: $4,000,000 Average Price: $1,568,137
Total Market Volume: $28,226,469
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