REAL ESTATE

Is Newton Heading Towards A Buyer’s Market?


Newton, MA. Top Broker, Newton, MA. real estate, Compass, Sotheby’s

Buyer and seller sign

Is Newton Heading to A Buyer’s Market?

The real estate market in Newton is starting to feel a bit different.  New things are coming to market and homes are going under agreement but it all seems — different.’

We’ve listed 3 properties in the past month and happily had over asking offers, some substantially over asking.  4 of our buyers purchased properties this month. One purchased 100k under asking, one 6o under asking and one at asking.  All of these wold be considered hot properties and yet none had multiple offers.  I’ve decided to dig into the numbers and see what I can decipher.

This is the market as of today:

ON Market                                      Average Price                            Days on Market

130 single families                          $2,091,980                                          101

59 Condos                                           $948,146                                         64

 

UNDER AGREEMENT

61 single families                            $1,449,334                                            32

19 condos                                          $726,809                                             27

 

SOLD

38 single families                                $1,249,858                                    29

16 condos                                             $650,000                                       34

 

These numbers tell a story.  The average list price at $2,091, 980 is 40% higher than the average sold price of $1,249,858. It took an average of 29 days to sell vs. the 100 days for the current unsold inventory.  This is a supply and demand business and when new inventory outpaces under agreements a declining market is usually forecasted.  I do not expect to see a significant drop in prices but there will be pushback on price which we are already seeing.  Mortgage rates are up about a 1/2 point and another rate increase is expected before year-end. These increases affect the below 1.2 million dollar buyer the most.

My advice is to seek a Realtor who understands the market trends and acts before everyone else.  You do not want to chase the market down.

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Margaret Szerlip 617.921.6860

 

 

 

 

Newton Home Prices Have Appreciated 8.4% vs. a Gain of 6.9% Nationally.


Newton, MA. Newton Top Broker, Compass, Sotheby’s

Newton Home Prices Have Appreciated 8.4% in 2018.

Home Prices Have Appreciated 6.9% in 2018 | MyKCM

Between 1987 and 1999, which is often referred to as the ‘Pre-Bubble Period,’ home prices grew at an average of 3.6% according to the Home Price Expectation Survey.

Every month, the economists at CoreLogic release the results of their Home Price Insights Report, which includes the actual year-over-year change in prices across the country and their predictions for the following year.

The chart below shows the forecasted year-over-year prices for 2018 (predictions made in 2017). According to their predictions, the average appreciation over the course of 2018 should be 4.8%, which is still greater than the ‘normal’ appreciation of 3.6%.

Home Prices Have Appreciated 6.9% in 2018 | MyKCM

If we layer in the actual price appreciation that has occurred this year, we can see that over the course of 2018, home prices have appreciated by an average of 6.9% and have outpaced projections all year!

Home Prices Have Appreciated 6.9% in 2018 | MyKCM

What does this mean?

The tale of today’s real estate market is one of low inventory, high demand, and rising prices. The forces at work can be simply explained with the theory of supply and demand. That being said, if a large supply of inventory were to come to the market, prices may start to appreciate closer to the forecasted rate which would STILL be greater than the historic norm!

Bottom Line

If you are a homeowner whose house no longer meets your needs, now may be a great time to list your home and capitalize on the equity you have gained over the last year to make a significant down payment on your next home!

Home Sales Expected to Continue Increasing in 2019


Newton’s Top Broker, Newton, MA. real estate, Compass, Sotheby’s

Home Sales Expected to Continue Increasing in 2019

Freddie MacFannie Mae, and the Mortgage Bankers Association are all projecting that home sales will increase nicely in 2019. Below is a chart depicting the projections of each entity for the remainder of 2018, as well as for 2019.

Home Sales Expected to Continue Increasing in 2019 | MyKCM

As we can see, Freddie MacFannie Mae, and the Mortgage Bankers Association all believe that homes sales will increase steadily over the next year. If you are a homeowner who has considered selling your house recently, now may be the best time to put it on the market.

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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.

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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.

———

Sotheby’s Collection 2014


MARGARET SZERLIP Newton, MA.  2:15 EST,

My best wishes for a happy, healthy and prosperous New Year.  May the Sotheby’s Collection inspire you in 2015.  Sotheby’s Collections 2014

Either Way, You’re Still Paying a Mortgage


Posted by Margaret Szerlip 12PM EST, Newton, MA.   Newton, MA. Top Brokers, Sotheby’s Newton, MA.

Thanks for sharing KCM Crew..

Either Way, You’re Still Paying a Mortgage


Either Way, You’re Still Paying a Mortgage

Posted: 04 Nov 2014 04:00 AM PST

Either Way You're Still Paying a Mortgage | Keeping Current Matters

There are some people that have not purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent free, you are paying a mortgage – either your mortgage or your landlord’s. As a paper from the Joint Center for Housing Studies at Harvard University explains: 

“Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”

Also, if you purchase with a 30-year fixed rate mortgage, your ‘housing expense’ is locked in over the thirty years for the most part. If you rent, the one guarantee you will have is that your rent will increase over that same thirty year time period.


Unless you are living with your parents rent free, you are paying a mortgage. #KCM2014
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As an owner, the mortgage payment is a ‘forced savings’ which will allow you to have equity in your home you can tap into later in your life. As a renter, you guarantee the landlord is the person with that equity.

Bottom Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, owning might make more sense than renting since home values and interest rates are still at bargain prices.

14,164 Homes Sold Yesterday! Did Yours?


Posted by Margaret Szerlip / October 28, 2014, Newton, MA.

14,164 Homes Sold Yesterday! Did Yours?

Posted: 28 Oct 2014 04:00 AM PDT

14,164 Homes Sold Yesterday! Did Yours? | Keeping Current Matters

There are some homeowners that have been waiting for months to get a price they hoped for when they originally listed their house for sale. The only thing they might want to consider is… If it hasn’t sold yet this fall, maybe it’s not priced properly.

After all 14,164 houses sold yesterday, 14,164 will sell today and 14,164 will sell tomorrow.

14,164!

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