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1. Serious buyers shop in Winter, and you may net above asking price
If you are debating listing your home for sale within the next 6 months, keep in mind that the spring is when most other homeowners will decide to list their homes as well. Listing your home this winter will ensure that you have the best exposure to the serious buyers who are out looking now! In the field, we find that it actually pays to list in the winter, when buyers tend to have more urgency. KeepingCurrentMatters.com
2. Rising mortgage rates produces more motivated buyers
Because of the potential rise in mortgage rates it may benefit to list your home this winter. For many buyers, the expected rise becomes a strong motivation for taking action.
3. Lack of inventory
Lack of inventory indicates that we are still in a Seller’s Market, less than 6 months of inventory. Experts expect that home prices continue to appreciate in this market. Some recent studies find that sellers may net more above asking price during the months of December, January, February, and March than they do from June through November, even in cold-weather cities like Boston and Chicago. And homes listed in winter sold faster than those posted in spring. Time.com/Money
Even if you are not looking to sell and you are curious about your local market, please call me at 617-797-9497. I will be happy to give you a detailed report.
As the 2016 holiday season rolls around, we all wonder what is in stock for 2017. Many of the big market watchers like the National Association of Realtors, Inman News, and financial market magazines have already put in their predictions. Everyone is bullish and expecting a hot year for 2017 home sales. NAR is predicting existing-home sales to exceed 6 million in 2017 compared to 5.8 million for this year.
“The top markets for price appreciation likely will be in Seattle, Washington, Portland, Oregon, Denver, Colorado, and Boston”, predicts Eric Fox, vice president of statistical and economic modeling at VeroForecast. These markets’ robust economies have growing populations but a tight supply of homes for sale on the market that will likely lead to some of the largest price increases across the country.” Realtor.org.
Inman News has projected that single-family will also increase “from around 715,000 to 800,000 units in 2016, a trend that will continue with 850,000 and 900,000 new units expected in 2017 and 2018, respectively.” Though there is demand, builders won’t be able to magically ramp up.
As per National Association of Realtors, millennials — those born between the early 1980s and the late 1990s — are expected to buy a first home in 2017, and many have saved enough to buy more than a condo or a starter home.
Mortgage rates are likely to continue to increase throughout 2017. There will not be any easing in inventory, and affordability will still be a challenge in big markets. The potential is there for a large number of first-time buyers to enter the buying market, but they will face new challenges.
Buyers can still be smart and mitigate the risk of rising interest rates in 2017 by looking for lower-priced homes, by putting more money down or in some cases working on the term lengths on a mortgage’s fixed-rate component.
Surban: New Trend in Housing
Housing inventory was a low in 2016, and it will continue to be a problem in 2017, as per many experts.
“There’s been plenty written about the move from suburban-style sprawl — marked by McMansions and strip malls — to more dense communities of different housing arrangements, such as town houses, apartments and single-family homes, together in the same neighborhoods. In 2017, look for a new name for it: Surban. Nearly 80% of residential growth will occur in suburban communities over the next 10 years — up from 71% from 2010 to 2015 — compared to just 15% for ‘urban’ areas through 2025.” ~MarketWatch.com
25 Pilgrim Road Newton, MA 02468 Offered at $3,000,000 16 rooms 5 bedrooms 6 full baths 1 half bath Living area 6,448 sq. ft. Lot size: 12,660 sq. ft.
Four beautifully finished levels for 16 rooms- 5 bedrooms and 6 1/2 baths and much more.
Exterior curb appeal makes a beautiful statement with classic elements such as the hipped roof with cross gables, roman columns on the porch and front entry, professionally landscaped with stone walls and stone pillar with welcoming exterior light fixtures all about. Easy to come home to the circular driveway with pavers borders, or simply enter the spacious two car garage.
Enter the front door to the open graceful foyer and note the consistently gorgeous architectural details, such as crown molding, inlaid hardwood floors, paneled wainscotting, coffered ceilings, beamed ceiling, for just a start. You can also enter from the side door or the garage to a mudroom fit for New England Winters and more. Each room has variations on the details with a consistent theme of elegance in a New England style home.For example, three fireplaces, each beautiful and slightly different and appropriate for the space.
Chef’s kitchen with white tile and stone and an high end appliance package that you have dreamed about oversized stove with pot filler, double ovens, wine cooler, and a beautiful butler’s pantry. Sliders lead to the beautiful stone patio and professionally landscaped yard.
On the second level you’ll find a custom designed master suite with fireplace and large walk-in closet, 3 additional bedrooms with attached baths and laundry room. This home also has a finished 3rd floor that offers great extra space for teen homework room, home office, or extended family.
The finished lower level has a beautiful wine cellar, fireplaced game room, and work out studio.
Located on a side street in beautiful Waban. Waban boasts of the beautiful new Angier Elementary School and Zervas Elementary, The Waban T stop with surrounding shops and fabulous restaurants. Easy access to major highways.
Congratulations to my seller, Mike, who just closed on this beautiful condo! Mike bought this beautiful unit with me a few years back. Now he has a new job and a new phase in life. Although he was sad to say good by to this Urban Gem, he was happy to receive over asking and an easy transaction to boot!
Sophisticated third floor condo features exposed brick, hardwood floors, open layout, and many updates and improvements. Freshly painted, recessed lights, and ceiling fans in both the living room and bedroom.
See yourself enjoying morning coffee at the kitchen island. Modern pendant lights provide a pop of color in the eat-in kitchen which includes double sinks.
Step out through the hallway to your back deck where you can entertain friends or relax with a book.
Two closets in the main living area: one deep enough to store your skis easily with room for more. Great bedroom with a large closet equipped with custom shelving. Updated bath.
This urban gem boasts a Commonwealth Avenue address with easy access to public transportation, colleges, universities, and many city amenities, shops, restaurants, cultural events, jogging trails and urban green space.