Think Real Estate Services Blog

GREAT VALUES IN NATICK MA REAL ESTATE!

GREAT VALUES IN NATICK MA REAL ESTATE

By Mitchell Kur

Principal, Think Real Estate Services, Newton, MA

For Sale in Natick MA

19 Plain Street, Natick, MA 01760 $319,900!

If you are looking for your first (or even your second) home, look no further. Natick may be your answer.

Why Natick?

• Near most major roads.
• Near Metropolitan Boston museums, theaters, music venues, and sports events.
• Great Natick shopping.
• Highly rated schools.
• Wonderful residential neighborhoods.
• Outstanding values in single family homes.

 SINGLE FAMILY HOMES --Compared to benchmark peak year 2005, when the average selling price of a single family home in Natick was $552,194, by last year (2011) the average price had fallen to $463,282, a drop of 16%. Prices have declined steadily since the 2005 peak, resulting in offerings that are more affordable at a time when interest rates are at their lowest point in scores of years. The decrease in Selling Price per square foot of living space has dropped from $277/sf in 2005 to $229/sf last year (2011), further reinforcing the current value proposition for Natick homes.

NO. OF SINGLE FAMILY HOMES SOLD AND AVERAGE PRICES--NATICK, MA

2005 TO 2011

 

Source: MLSPIN

Prices of SFHs in the neighboring communities of Newton and Needham, on the other hand, have been rising during the past three years, suggesting the beginning of turnaround in cities and towns closer to Boston. That may eventually extend to communities farther away from Boston. Does that mean Natick has reached its lowest price point? We don’t know, but we do know that Natick prices are lower than at any time in the past five years. It’s impossible to predict the exact low point of any cycle, but it appears that Natick may be close, suggesting it’s a great time to buy there.

CONDOMINIUMS -- The picture for condo sales in Natick is quite different. Average condominium prices have remained in a price band between $300,000 and $350,000 for the past six years, with steady growth in the number of condos sold from 110 in 2006 to 188 last year. Interestingly, the early sales this year (first 11 weeks) reflect 21 condos sold at an average price of $304,000 and average price per square foot of just under $200, both their lowest points in at least six years. If you are looking for a condo, it might be wise to check out Natick, given these initial 2012 statistics.

NO. OF CONDOMINIUMS SOLD AND AVERAGE PRICES--NATICK, MA

2005 TO 2011

Source: MLSPIN

 If you have questions, comments, or want more information about Natick homes, contact the author at mitch@thinkres.com. Your input is welcome and valuable.

You may also download additional data for Brookline, Newton, Needham and Wellesley.

 

 
*Listing courtesy of Denise F. Earl, Century 21 Commonwealth

STRONG MARKET FOR HOUSES IN NEEDHAM, MA

STRONG MARKET FOR HOUSES IN NEEDHAM, MA

Do you own a home in Needham? If so, you may be pleased with the upward trend in single family home prices in the Town of Needham. If you are considering buying a home in Needham, you may want to do it sooner than later.

The data for 2011 in Table 1 indicate that SFH prices and number of homes sold had fully recovered from the market drop after peak year 2005. That strength appears to be continuing in the early months of 2012, with 103 sales at an average sales price of $803,465 (still more than the $800,000 threshold) between January 1 and March 5.

If you are interested in buying or selling this season in Needham, Table 1 provides some useful background data. Your broker can provide far more current data that will help you make decisions.

Table 1

NO. OF SINGLE FAMILY HOMES SOLD AND AVERAGE PRICES--NEEDHAM, MA

2005 TO 2011

 

Source: MLSPIN

 

Table 2 is an overview of number of residential properties (single family, condos, and multi-unit) sold in Needham in the past five years. Single family homes sales overwhelmingly influence this market.

Table 2

NUMBER OF ALL TYPES OF RESIDENTIAL PROPERTIES SOLD IN NEEDHAM, MA

2007 TO 2011

 

NEEDHAM	2007	2008	2009	2010	2011
Single Fam.Homes	373	267	273	306	281
Condos	48	40	38	40	39
Multi-unit Prop.	3	7	3	2	7
Totals	424	314	314	348	327

Source: MLSPIN

 

You may download additional data for Brookline, Newton and Wellesley. Then contact our office for live professional real estate help: THINK Real Estate, 617-244-2755, info@THINKres.com, www.THINKres.com.

 

GET REAL ESTATE HELP--YOUR BROKER’S ROLE

GET REAL ESTATE HELP--YOUR BROKER’S ROLE

 

Would you let your hair stylist perform surgery on you? How about your auto mechanic? Would you do it yourself? Of course not—in all three cases. You want a qualified surgeon to do the job.

You should want the same kind of professional to help you buy or sell real estate.

Why?
• The process is loaded with rules, regulations and legalities.
• If you are relocating to Massachusetts from another state, the
requirements, documents and time line may be very different.
• Negotiating may not be your strong suit.
• You want access to the best resources and services during the buy/sell
process.
• Anxiety and stress can escalate dramatically.
• Your own time is valuable.

So don’t go it alone. Find a professional licensed broker/agent to represent you.

This may be the largest purchase or sale you’ll ever make. Get help. Do it right. Do
it for yourself, not by yourself.

For additional information, we are happy to download to you a copy of Your
Broker’s Role.

 

 

BROOKLINE REAL ESTATE: CONTINUED STRENGTH

People want to live in Brookline!

 The number of single family homes sold in Brookline has continued to rise each year after dropping 7.5% in 2008.  The 2011 average SFH selling price (at slightly more than $1.4 million) reduced that drop to only 1.5%. And while that average may sound pricey, nearly 20% of homes sold in 2011 were at less than $700,000. See the figures below.

 

 NUMBER OF SINGLE FAMILY HOMES SOLD AND AVERAGE PRICES

 

BROOKLINE	2007	2008	2009	2010	2011
No. of SFH Sold	187	124	125	136	160
Avg. Sales Price	$1,432,278	$1,325,407	$1,315,895	$1,370,863	$1,410,810

(Compiled by THINK Real Estate Services, Data Source: MLSPIN)

 

The number of Brookline condo sales exceeds SFH sales by three to one (2011), an important condo market.  Condo selling prices in Brookline have increased every year during the past five years. The average condo price in 2011 at $562,000 was 10.7% higher than in 2007. At the same time, the total number of condos sold decreased every year, and the 160 sales in 2011 were nearly 15% less than in 2007. It appears that classic supply and demand forces are at work. Examine the following numbers and judge for yourself.

 

NUMBER OF CONDOMINIUMS SOLD AND AVERAGE PRICES

 

BROOKLINE	2007	2008	2009	2010	2011
No. Condos Sold	664	514	506	493	473
Avg. Sales Price	$ 507,770	$ 512,209	$ 534,349	$ 525,805	$ 562,063

(Compiled by THINK Real Estate Services, Data Source: MLSPIN)

 

We have compiled selective five-year data for the neighboring communities of Brookline, Newton, Needham and Wellesley. Please let us know if you would like a copy, and we’ll download it to you immediately.

 BROOKLINE REAL ESTATE

GREATER BOSTONHOMES-HOW TO SELL FASTER!

 

Planning to sell your Greater Boston home in 2012?

Then make it irresistible to a buyer.

Buyers should feel good, noting the trimmed green shrubs and blooming flowers, as they walk to the front door. They should say (or at least think) “Wow!” as they enter the living and dining rooms. And your visitors should be better than OK with the kitchen—maybe it’s been updated; at minimum, it’s spotless and functional. They might like the fresh pastel colors on the walls. They think that the bedrooms look fine, and the natural light is inviting. These buyers might well imagine happily living in your home. That’s the reason for preparing your home before you market it: so that buyers can positively imagine living there!

You probably have some work to do before putting the property on the market. Don’t wait. Do it. When a house looks clean and livable to buyers, it will likely sell faster and at a better price.

We prepared a list of guidelines to help you get your house in shape. You can implement most of these tips at little cost.

Also engage a professional agent to help guide you in preparing your home for sale and to represent you and your best interests in marketing and selling the property. Remember, if it looks good, they will come (and buy).

 

Newton Real Estate Sales: Four Solid Years!

 

Real estate, like politics, is local. Single family home sales in Newton have fared well over the last four years. Counter-intuitive? Different from perception? Just look at these facts:

NEWTON	2007	2008	2009	2010	2011
No. of SFH Sold	617	499	511	518	519
Avg. Sales Price	$ 964,332	$ 904,638	$ 842,061	$ 882,812	$ 908,328

Source: MLS PIN

With 2007 (the most recent high point in the Newton real estate market) as a baseline, the number of single family homes sold in 2011 recovered more than 20% of its 19% drop from 2007 to 2008, and the number of sales has grown 4% since 2008.

The average price of a single family home in Newton is on the rise as well, up by nearly 8% in the last two years, although still 6% less than 2007.  If this is the new “recovering normal,” it’s positive, especially when compared to many other communities. It represents, at least for now, a reasonable benefits balance for both sellers and buyers. It also reinforces Newton as a desired place to live.

We would be happy to share additional residential real estate data for Newton, as well as the surrounding communities of Brookline, Needham, and Wellesley.

 

 

 

THINK Lists Greater Boston Homes & Condos For Rent

THINK Lists Greater Boston Homes & Condos For Rent.

The rental season in the Greater Boston area is only days away, and the demand for quality apartments, condos, and homes continues to increase. Renters and landlords should engage professionals to represent them. To learn more and access THINK’s rental incentives, click the button.

Greater Boston Homes: Buying or Selling? What to Expect and When!

Greater Boston Homes: Buying or Selling? What to Expect and When!

You are about to buy or sell your home. You want to know what to expect.

• You’re not a lawyer.
• You’re not a financial guru.
• You’re not familiar with jargon like CMA, P&S, pre-approval, or deadlines you must meet.
• You don’t have all the time in the world.
• But you are a smart buyer or seller, and you want to understand the process.

Under normal conditions, the sale (closing) of a residential property in Massachusetts takes six to eight weeks, once an offer from a buyer is accepted by the seller. It might take more time if there are financing issues, or less if it is a cash sale with no contingencies. Understanding the process is important, because it helps set expectations and avoid emotional turmoil.

If you are a home buyer moving to the Greater Boston area from another state, the Massachusetts process and documents may be very different from your current state. For example, Massachusetts real estate transactions, unlike many other states, involve two contracts between buyer and seller, an Offer and Acceptance Agreement at the outset of the transaction, followed about two weeks later by the Purchase and Sale Agreement (which is the super-binding contract that supersedes the O&A). The role of the title insurer varies considerably from state to state. Legal requirements and forms vary among states.

If you are a buyer, even before you start viewing properties, there are important actions to take which put you in an advantageous position. Interview and select a licensed qualified broker to represent you, engaging first in a meaningful conversation that assures you that s/he fully understands your needs and the price range you can afford. Before setting up appointments, talk to several mortgage brokers (unless you are a cash buyer) and obtain a written loan pre-approval so both you and the seller, working through your respective brokers, are realistic.

Remember, knowledge is power, so learn as much as you can about the process.

 

Selling Newton Real Estate? Stage It to Sell Faster!

Selling Newton Real Estate? Stage It to Sell Faster!

It’s a fact. Studies have shown that staged homes sell faster than homes shown in “live-in” condition. A recent ASP study revealed that 94% of staged homes sold in 29 days, while non-staged homes averaged 145 days. Buyers want to imagine how they will live in a home they are considering. An uncluttered well staged home enables them to more seriously vision living there.

Carol Borman, Certified Staging Realtor at Think Real Estate Services, has compiled a list of ten tips on staging your home for faster sale. Click the link below to request your copy.