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Truckin’ on to a More Balanced Market

Truckin’ on to a More Balanced Market

What a long strange trip it has been!” We have lived through one of the most incredible Sellers’ Markets in real estate history. Multiple offers, over-asking sales prices with homes going off the market in record time, low levels of inventory…all of these factors have broken through the typical measuring matrix.
It’s like we are truckin’ down the highway at 120mph, suddenly reducing the speed to 80mph better to see the view and the road ahead, for that matter!
Today we are seeing that days on market are accumulating as levels of inventory increase. Yet supplies are still limited relative to demand. We are still in a Sellers’ Market and shifting towards a more balanced market with pressure easing up for Buyers even with rising interest rates.
No one can predict the future. Nonetheless, whether you are thinking of selling or buying, it is never a good idea to attempt to time the market. The best route is to find an experienced Real Estate Professional to guide you through a successful transaction.
July 2022 brought 4.81 million in sales, a median sales price of $403,800, and 3.3 months of inventory. The median sales price is up 10.8% year-over-year, and inventory was up 0.7 months from July 2021. ~NAR
July 2022 Existing Home Sales Housing
What You Don’t Hear About

What You Don’t Hear About

It is not easy to get a property under agreement in this competitive market without promising your firstborn. All joking aside, this is a true story that happened to my Buyers. It is about real estate professionals who are absent when they should proactively advocate and advise their clients. But, please don’t get stressed—It’s a happy ending.

After a frustrating period of looking at undesirable homes and losing bidding wars, my Buyers found a home they liked. The offer included a mortgage contingency, and to demonstrate their strong motivation to buy this home, they offered a large deposit to be put in escrow with the Purchase and Sales Agreement.

The Sellers countered by requesting a twenty-day close date which is not something every Lender can pull off. After careful consideration, the Lender assured us that this timeline was achievable.

Bang, accepted offer!

Then came the race to get it to the closing table. Did I mention it was a twenty-day close?

With my Super Hero Team of Professionals, we completed the Attorney’s review, the Purchase and Sale Agreement was signed, rushed title, and the Lender gave the clear to close.

Then two days before closing, we got the word that there was A LITTLE PROBLEM. The Seller decided to refinance a few days before the closing date for some unknown reason. In the process, the closing attorney who did the refinance missed a couple of steps and CREATED (PREVENTABLE) TITLE ISSUES WHICH COULD NOT BE CLEARED IN TIME FOR CLOSING.

The irresponsible decision to refinance and the subsequent chain of events would delay the closing. Why? Maybe they didn’t understand. Possibly, no one was there to advise them. Furthermore, perhaps no one told them how unreasonable it is to ask for a twenty-day close.

All Realtors® with high professional standards prepare their clients by setting expectations and maintaining tight communications between all parties.

This was not a total disaster because:

  1. It was only a short delay because our Attorney stepped in and corrected the situation.
  2. There was a rate lock in place.
  3. The Buyers had not scheduled a moving day and had a place to live.

Thanks to the incredible Super Hero Team of Professionals, this transaction closed within two weeks. The irony is that the close date was the original date the Buyers had wanted, and it was the seller who pushed for a quick close. Karma. Story ending: my wonderful clients are happy with their new home and the transaction results.

Buying or selling, It matters who you work with…

The Super Hero Team of Professionals

The Realtor®: Janet Porcaro

The Lender: Amy Tierce, Radius

The Attorney: Stephanie Asimakopoulos, Ligris

Ask Me about Nevins Hill Condos in Brighton!

Ask Me about Nevins Hill Condos in Brighton!

This 55 unit luxury condominium development in Brighton is impeccably designed and features units ranging from 1 to 3 bedrooms. An exciting opportunity to get in early during this pre-construction phase.

The building will have exceptional amenities including a garage, elevator, fitness center, work pods, state of the art club room with an adjacent roof terrace that has sweeping city views. The renowned development team brings a custom level of finish and a true community-based living experience to high-end condominium residences.

Pricing ranges from $700,000s to $1,400,000.

ONE NEVINS HILL WAY
BRIGHTON, MA 02135, USA

Aren’t you curious? Give me a call at 617-797-9497 for a Buyer Agent’s Consultation.

Charlesgate is the Listing Brokerage
New Boston Ventures is the Developer
Wolf in Sheep Design is the Interior Design Company

READ THE BROCHURE

Great Find: 2017 New Construction Condo in Elevator Building in Newton

Great Find: 2017 New Construction Condo in Elevator Building in Newton

77 Court Street, Unit 107, Newton, MA 02458, MLS 72952331, offered at $875,000.

Rarely available two bedroom two bath unit with 1,575 square feet of living space offered at $875,000.  Walk into the open kitchen, dining, and living area with large sliders looking out to the private deck. This unit has an excellent layout with lots of closets including two walk-in closets in the master bedroom.  The kitchen features a large waterfall island, warm cabinetry, and stainless steel appliances. There is an in-unit laundry.

This very pretty unit comes with 1 garage space and one exterior space plus a large storage unit on the garage level.

This 36 unit in a 2017 elevator building has common areas that include a lobby with seating area and small library, bicycle racks in the basement, rear outdoor patio with charcoal grill station and picnic table, and dedicated Visitor Parking. The professionally managed Association is strong with good reserves and high owner occupancy.

Located just behind the famous Cabot’s Ice Cream Shop on Washington Street! Close to the Commuter Rail, Grocery stores, shopping, and dining destinations are a stone’s throw away!

If you or someone you know would like a Buyer Agent’s Tour, please call me at 617-797-9497! 

The Listing Agent is Maxine Burtman, Coldwell Banker.

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Penthouse Condo With Treetop City Views in Vibrant Uphams Corner

Penthouse Condo With Treetop City Views in Vibrant Uphams Corner

A HOME WITH A VIEW IN A DYNAMIC BOSTON LOCATION

1-3 Howard Place, Unit B
Boston, MA 02125
Offered at $400,000

First showing at Open Houses on Saturday and Sunday, from 11 AM to 12:30 PM. 

Pristine penthouse condominium, 2018 renovation fully equipped with all the bells and whistles. With approx. 1,168 square feet of living space, this charming two-bedroom, one-bath home has a heating/cooling system with a programmable thermostat. The open living space features a tiled built-in electric fireplace and a fabulous back deck with city views. The in-unit laundry area is equipped with a clever Murphy storage system with a drop-down workbench.  The light is amazing in every room with many windows and large Velux skylights. All windows have Levolor blinds with room darkening mode for the bedrooms. The beautiful spa-like bath, with a skylight, has a lovely Strasser vanity. This amazing home also comes with a tandem parking space.

Virtual Tour Here

ENJOY REVITALIZED UPHAMS CORNER

Uphams Corner is a major urban center experiencing a revival compared to Davis Square in Somerville. The Kroc Community Center offers fitness/health programs for all ages with an aquatics park, pool, fitness center, and more. Even closer to the home is the Mary Hannon Playground/basketball court. Further improvements underway are a new plaza for community events, a splash pad, a workout area, and a dog park! This location is a commuter’s delight: .2 mile to Uphams Corner Station (10 minutes to South Station).

Indeed, Upham’s Corner has architectural and historic significance, don’t miss this opportunity to live in this wonderful community.

CONTACT US!

Are You Looking to Build a Home? Nearly a Half Acre Available in Wellesley!

Located in highly desirable Wellesley, this Cape-style home is situated on a lush green lot where possibilities abide! The home boasts 4 bedrooms, 2 baths, with approximately 1,152 sq. ft. living area. Renovation and/or expansion would offer you the ability to design the home suited to your lifestyle. The lot is approximately 19,668 sq. ft. (.45 acre.) There is a one-car garage and currently parking for 5 vehicles.

If you have been dreaming of updating or building your dream home, your search has ended! Call or text me at 617-797-9497 to arrange a tour with a Buyer Agent’s perspective. All offers are encouraged.

1 Vista Road
Wellesley, MA: Babson Park, 02481
MLS # 72838585

LOCATION

This beautiful Wellesley location is one of the more desirable. It is just under one mile from the Town Center and, Wellesley High School, and Middle School. For commuters, the Wellesley Commuter Rail is one mile away and access to major highways is via Route 9. There are plenty of local places to shop and dine in the Town Center. Wellesley is an excellent place for a walk in the park or a stroll in the natural world with abundant parks and green spaces, Morses Pond, Brook Path, and many recreational facilities. The Wellesley Community is engaged and active with a wealth of events and activities throughout the year. To get a sense, take a look at the Wellesley Community Facebook Page. With a highly rated schools system and close proximity to all that Boston offers, you will be happy to come home to Wellesley, MA.

The listing broker is Ellen Dudley, Keller Williams Realty.

If you would like a Buyer Agent’s advice as you tour the home, contact me at Janet@JanetPorcaro.net or call 617-797-9497.

The information in this listing was gathered from third-party sources including the seller and public records. MLS Property Information Network and its subscribers disclaim any and all representations or warranties as to the accuracy of this information. Content ©2011 MLS Property Information Network, Inc.