Mike Hunter, the House Hunter's Blog

Metrowest Boston Housing Market Conditions as of August 9, 2010

Mike Hunter (William Raveis Real Estate & Mortgage) — Mon, 09 Aug 2010 11:09:31 -0700

It looks like the fall market has begun a little early, with more listings coming on than going off at a pretty rapid clip. High end still troublesome, inner suburbs absorbing the buyers that would have purchased in the outer suburbs but now can purchase similar homes closer to Boston.

For specific information on the metrowest towns:

Acton housing market update

Ashland housing market update

Boxboro housing market update

Concord housing market update

Framingham housing market update

Hudson housing market update

Lincoln housing market update

Marlborough housing market update

Maynard housing market update

Natick housing market update

Northborough housing market update

Southborough housing market update

Stow housing market update

Sudbury housing market update

Wayland housing market update

Weston housing market update

Metrowest Boston Composite housing market update

Mike Hunter, the House Hunter
Your Neighborhood Realtor for Sudbury & Metrowest Boston.

Coldwell Banker Residential Brokerage
447 Boston Post Rd, Sudbury, MA 01776
Tel: 978-580-1069
Blog: http://househunter3.blogspot.com/
Email: Mike.Hunter@NEMoves.com
Web: www.HunterTheHouseHunter.com
Information deemed Reliable but not Guaranteed.

Sudbury, MA Real Estate Market Update for June 2010

Mike Hunter (William Raveis Real Estate & Mortgage) — Mon, 28 Jun 2010 08:35:25 -0700

(these statistics are for June 2010)

The number of houses sold: 22

The number of houses that came on the market: 22

Price range with the most sales: $500,000 - $599,000

Price range with the least sales: $1.5 million and up

Price changes this month: 35

Average days on market for active listings: 172

If I can help you with any home selling or buying needs, feel free to call me at: 978-580-1069.

48 Henry's Mill Lane, Sudbury, MA 01776 ... 4BR Colonial for Sale $1,080,000

Mike Hunter (William Raveis Real Estate & Mortgage) — Wed, 19 May 2010 14:30:04 -0700

Character throughout! This bright and pristine 4br, 3.5bath brick-front Colonial with a contemporary flair is nestled in the prestigious Carding Mill Estates neighborhood. The sun-filled home faces southwest and has loads of oversized windows. Enjoy entertaining and cooking in the spacious, maple kitchen that opens to the large fi replaced family room. Relax on the private patio, soak in the hot tub, and watch the seasons change in the cascading perennial gardens. Hike and jog across the street at the 110 acre Carding Mill Pond conservation area.

Move-in condition, Just UNPACK & ENJOY!

A Partial List of Special Features in this Home:

• 1.98 Acre hilltop lot with level back yard

• 9' ceilings on first floor

• Maple kitchen w/electric downdraft range, double-ovens, bosch dishwasher and tile floor

• Sun-filled living room with brick fireplace and wood surround

• Family room with bay window, fireplace, and custom cherry built-ins

• Master suite with walk-in closet & updated master bath

• First floor office

• Laundry room off kitchen

• Second floor family room/guest suite/media room with walk-in closet and full bath

• Lush, private, professionally landscaped grounds

About Carding Mill:

Carding Mill is a high end, limited density cluster plan land development surrounding the Carding Mill Pond. The 170 acres had once been owned by Henry Ford, founder of Ford Motors. Mr. Ford had originally used the property to train local farm workers in his early methods of assembly line production.

The residential land development placed the home sites within 60 acres of the total 170 acres, thereby preserving the remaining 110 acres (including the Carding Mill Pond) as conservation land overseen by the Sudbury Conservation Commission. The development is complete and includes high end custom homes, including Federal, Colonial and Cape styles.

Call today for your private showing. (978) 580-1069

266 Hudson Road, Sudbury, MA 01776 4 Bedroom Colonial SOLD!!! asking $469,000

Mike Hunter (William Raveis Real Estate & Mortgage) — Wed, 24 Mar 2010 09:51:19 -0700

Wonderful, inviting and immediate feel of being ‘at home’ in this traditional Sudbury 4 bedroom Colonial with 2-car oversized garage, and innumerable upgrades!

Large country kitchen with with stainless appliances & granite counters overlooks large pastoral, ‘field-of-dreams’ private rear yard.

Natural light embraces the front-to-back fireplaced living room with surround sound hookup, recessed lighting and dimmable sconces flanking fireplace.

Hardwood throughout (kitchen has tiles), updated baths, great colors, finished lower level playroom, walk-out from basement to back yard, screened porch, Trex deck, bountiful perennial gardens, stonework, central A/C and lots more!

Move right in with nothing to do!

Special Features

• .98 Acre gently sloping lot with vernal pond, numerous perennials, and rustic stone walls around planting areas

• Lovingly owned and maintained by a ‘decorator’ - filled with designer wall colors and decorator accents such as: Arts ‘n Crafts style foyer bannister, designer hardware, recessed lighting, solid six-panel doors with glass knobs, oriental stair runner, professional closet organizers and more

• Updated kitchen w/stainless appliances (including GE Profile range and built-in wine cooler) and granite countertops

• Front-to-back living room with fireplace and lots of windows

• Four bedrooms upstairs, three levels of living space

• Updated bathrooms - downstairs: cherry, granite, Venetian plaster treatment; upstairs: white on white with tiled surround • Party-sized Trex deck drenched with sun a large part of the day

• Barn-like 2-car garage with classic weathervane and rear exit to back yard

• Wired for Comcast and Verizon, living room wired for surround sound speakers

• Weil-McLain Gold Boiler (WGO), tankless water heater w/SuperStor supplemental tank, programmable thermostats

• Water $15; Oil: $150; Elect: $135 per mo average Recent Updates and Upgrades

• Nine new Harvey energy-efficient windows and R-25 attic insulation (2008)

• Central Air Conditioning; Updated Electric; Alarm System; Pull-down to Attic (2005)

• Front steps with Trex decking and cedar railings; Walpole woodworkers cedar post light, mailbox & window boxes; brick paver walkway, outdoor designer lighting (2003) • Partially finished lower level, new carpet in 2003

• 40 Year Certainteed architectural shingled roof (2001)

266 Hudson Road in Sudbury, MA 01776 4 bedroom colonial for sale

Mike Hunter (William Raveis Real Estate & Mortgage) — Wed, 24 Mar 2010 09:37:49 -0700

Wonderful, inviting and immediate feel of being ‘at home' in this traditional Sudbury 4 bedroom Colonial with 2-car oversized garage, and innumerable upgrades! Large country kitchen with with stainless appliances & granite counters overlooks large pastoral, ‘field-of-dreams' private rear yard. Natural light embraces the front-to-back fireplaced living room with surround sound hookup, recessed lighting and dimmable sconces flanking fireplace. Hardwood throughout (kitchen has tiles), updated baths, great colors, finished lower level playroom, walk-out from basement to back yard, screened porch, Trex deck, bountiful perennial gardens, stonework, central A/C and lots more! Move right in with nothing to do!

Special Features

· .98 Acre gently sloping lot with vernal pond, numerous perennials, and rustic stone walls around planting areas

· Lovingly owned and maintained by a ‘decorator' - filled with designer wall colors and decorator accents such as:

Arts ‘n Crafts style foyer bannister, designer hardware, recessed lighting, solid six-panel doors with glass knobs,
oriental stair runner, professional closet organizers and more

· Updated kitchen w/stainless appliances (including GE Profile range and built-in wine cooler) and granite countertops

· Front-to-back living room with fireplace and lots of windows

· Four bedrooms upstairs, three levels of living space

· Updated bathrooms - downstairs: cherry, granite, Venetian plaster treatment;

upstairs: white on white with tiled surround

· Party-sized Trex deck drenched with sun a large part of the day

· Barn-like 2-car garage with classic weathervane and rear exit to back yard

· Wired for Comcast and Verizon, living room wired for surround sound speakers

· Weil-McLain Gold Boiler (WGO), tankless water heater w/SuperStor supplemental tank, programmable thermostats

• Water $15; Oil: $150; Elect: $135 per mo average

Recent Updates and Upgrades

· Nine new Harvey energy-efficient windows and R-25 attic insulation (2008)

· Central Air Conditioning; Updated Electric; Alarm System; Pull-down to Attic (2005)

· Front steps with Trex decking and cedar railings; Walpole woodworkers cedar post light, mailbox & window boxes;

brick paver walkway, outdoor designer lighting (2003)

· Partially finished lower level, new carpet in 2003

• 40 Year Certainteed architectural shingled roof (2001)

Sudbury, MA Housing Market Conditions - December 2009

Mike Hunter (William Raveis Real Estate & Mortgage) — Tue, 08 Dec 2009 14:38:01 -0800

The housing market in Sudbury is looking up. Inventory levels of unsold houses continue to drop ... and is now down to just an eight month supply (though it varies greatly by price points). Since a six month supply is considered to be a balanced market, favoring neither sellers nor buyers, it looks like we're at the closest to a balanced market we've been in a few years. Existing home sales (especially in the mid to lower end homes) have shown promising figures, as first-time buyers take advantage of the buyer tax credit and historically low interest rates. Nationally it has been reported that sales of single family homes surged by a little over 10 percent in October and were 24 percent above where they were a year before. We have had similar results in Sudbury. October sales were up one sale (it doesn't take a lot to be 10% above when you only have 12 sales) and we were very close to that 24% figure for year-to-year increase. Keep in mind that 2008 sales were down 45% from the year before. Why the big jump in activity? The number one reason, in my opinion, is that first time buyers rushed to wrap up deals before the scheduled November 30th expiration date of the $8,000 federal tax credit . That program has now been extended into next summer and we'll see if this takes some of the sense of urgency out of the winter market. On a bright note, it bodes very well for a similar surge in the upcoming spring market. The other factor that has a strong effect on the jump in activity is the drop in prices at the low and mid-level of the Sudbury market which has led to a high affordability index (measured by taking the prices of homes and comparing that with household incomes and monthly payments at current mortgage interest rates). By the way, interest rates for 30-year fixed loans have been hovering around five percent for weeks -- and recently dropped below that into the upper four percent range. A year ago, by comparison, the average 30-year rate was 6.2 percent. The upper end of the market has stubbornly had no measurable drop in prices and thus the low affordability index has severely impacted sales at the above $1 million price points. Recently I've had Sudbury sellers in the $million plus range tell me that "there just aren't any buyers out there". This is nonsense, the lack of sales in this price point is directly related to their low affordability index. For example, if you drive 7 miles east into Weston and Wellesley, where the prices in the $1 to $10 million range have dropped in direct proportion with the rest of the price ranges bringing them to a high affordability index point, there were a total of 164 sales over $1 million so far this year. When the $million+ sellers adjust their prices down to meet the market demand they will find that there are indeed buyers out there.

So how are things doing in our neck of the woods at the tail-end of the 2009 market?

Monthly Units Sold: there is a slight uptick in activity towards the end of the year, and if you look over the whole year we're probably running very close to even with 2008. The bright note is that what activity there is seems to be steady and trending slowly upward. The market environment is still unbalanced with too much inventory. In the high end, even though Sudbury continues to be a very desirable town, the tightness of mortgage money for jumbo loans continues to shrink the real buyer pool or shift the buyers to towns to the east of Sudbury that they couldn't afford a few years ago. Because of that phenomenon, prices especially at the higher end of the market will need to correct/adjust downward by the 15% that the mid and lower ends of the market have corrected to with great results.

Selling Price to Original Price Ratio: The ratios this year are all getting tighter and recently have started trending very close to their historical averages. This is probably due to a higher number of sales on which to base the statistics and the three year lag time for reality to really sink-in with sellers. For the past few years, across the entire price spectrum, the average SP/OP ratio has remained consistently at 91%, that is, the houses that did sell, sold at an average of 91% of what they originally put it on the market for. Looking at this chart, you'll see a spike in April, but that is due to a single sale new build with a host of add-ons, not statistically a repeatable event.

Monthly Average Sales Price: The laws of supply and demand are alive and well in Sudbury. Demand is clearly down, so the most attractive and best valued houses are the ones that have sold, the rest are chasing the market down. Studying this chart we see that over the first half of this year, the greatest demand is coming from the smaller/less expensive homes. As the year has gone on, we see more homes in the mid-range selling, partially due to the inevitable movement of foreclosures and short sales up into this price point. The spike in April is again a fluke due to one very high value home sale. Toward the end of the year, the prices have dropped back into the range of the smaller and less expensive homes, and appear to be slowly trending even or very slightly downward. Generally if there are good year-end bonuses we'll see an uptick in the sale of more expensive homes which has historically shown up on the radar screens in January month-end statistics.

Days On Market: the trend is almost parallel to last year's, but homes that do sell are selling a tad quicker, which is very encouraging. I think this has again been more a function of "High-Quality" houses coming on the market and selling and increased demand created by the stimulus package.

POSSIBLE IMPROVEMENTS IN THE MARKET AND PREDICTIONS FOR 2010: The general tenor among analysts is that the housing market will continue to improve during 2010. These are the reasons why: low mortgage rates, deflated home prices equal good bargains, improving economy, and reduced inventory because of value bargain hunters. While the economy is far from getting a terrific bill of health, things are steadily improving from 2008. I feel that 2010 is the year of high hopes of recovery. I foresee that it is likely that prices will at least stabilize. Looking at today's market I do not see any chance of housing inflation or appreciation beyond the old historical 3% annual rate for a number of years. As prices stabilize, Sudbury buyers and sellers (and developers) who have been watching from the sidelines may acknowledge that we have hit the bottom and enter the market. As the economy improves into 2010, I expect to see more people who have a natural need to buy and sell come back into the market. Plus with mortgage rates at such low levels (even for some jumbo loan products) and looking to remain that way into early 2010, and the expanded income limits for the home buyer tax credit allowing more Sudbury buyers (and some sellers) to take advantage, I think we'll see a nice increase in the level of activity come early spring.

If I can be of help to you in buying or selling a home in Sudbury give me a call at 978-580-1069.

Who Determines How Much Your House is Worth?

Mike Hunter (William Raveis Real Estate & Mortgage) — Mon, 19 Oct 2009 13:36:04 -0700

Your house is very special to you - no doubt it holds many warm memories, but buyers who are looking at your house have just looked at 20 houses and your house is just number 21. It's no more special to them than number 12 or 18 were. Therein lies the challenge when thinking about pricing your home.

In very basic terms: Real estate is a commodity, not a product. to read more, click here.

Does Anybody Know Where Buyers & Sellers Come From?

Mike Hunter (William Raveis Real Estate & Mortgage) — Tue, 26 May 2009 05:50:14 -0700

You can click on just about any real estate blog/website/vendor website and get some variation of the following statistic:

"According to the 2007 National Association of REALTORS® Profile of Home Buyers and Sellers, 84% of all homebuyers used the Internet as an information source.An astounding 84% of ALL buyers identified the Internet as a source in their home search. This percentage amount included 87% of first-time buyers, 82% of repeat buyers, 79% of new home buyers and 85% of buyers of previously owned homes."

As the internet is a very active medium, it seems to me that a statistic that is from 2007 is about as relevant as a coupon for buggy whips, a webcast from a sundial watching convention, or a tweet from some jock who just had chicken and peas for dinner.

I believe that the number is more like 100% or at least 98.5% but don't have any empirical data to back this up. Does anyone out there have any real current data, I'd be eternally grateful.

brgds

mike

FIRST-TIME HOMEBUYER TAX CREDIT EXPLAINED

Mike Hunter (William Raveis Real Estate & Mortgage) — Mon, 02 Mar 2009 08:49:17 -0800

If you're a visual person, as I am, you can understand the first-time home buyer credit as modified in the new American Recovery and Reinvestment Act better by looking at the chart below.

Note: the Major Modifications are Italicized

February 2009 FEATURE	CREDIT AS CREATED JULY 2008 APPLIES TO ALL QUALIFIED PURCHASES ON OR AFTER APRIL 9, 2008	REVISED CREDIT - EFFECTIVE FOR PURCHASES ON OR AFTER JANUARY 1, 2009 AND BEFORE DECEMBER 1, 2009
Amount of Credit	Lesser of 10 percent of cost of home or $7500	*Maximum credit amount increased to $8000*
Eligible Property	Any single family residence (including condos, co-ops, townhouses) that will be used as a principal residence.	No change All principal residences eligible.
Refundable	Yes. Reduces (or can eliminate) income tax liability for the year of purchase. Any unused amount of tax credit refunded to purchaser.	No change Purchasers will continue to receive refund for unused amount when tax return is filed.
Income Limit	Yes. Full amount of credit available for individuals with adjusted gross income of no more than $75,000 ($150,000 on a joint return). Phases out above those caps ($95,000 and $170,000).	No change Same income limits continue to apply.
First-time Homebuyer Only	Yes. Purchaser (and purchaser's spouse) may not have owned a principal residence in 3 years previous to purchase.	No change Still available for first-time purchasers only. Three-year rule continues to apply.
Revenue Bond Financing	No credit allowed if home financed with state/local bond funding.	*Purchasers who utilize revenue bond financing can use credit.*
Repayment	Yes. Portion (6.67% of credit or $500) to be repaid each year for 15 years, starting with 2010 tax filing.	*No repayment for purchases on or after January 1, 2009 and before December 1, 2009*
Recapture	If home sold before 15-year repayment period ends, then outstanding balance of repayment amount recaptured on sale.	*If home is sold within three years of purchase, entire amount of credit is recaptured on sale. Applies only to homes purchased in 2009.*
Termination	July 1, 2009 (But note program changes for 2009)	*December 1, 2009*
Effective Date	Purchases on or after April 9, 2008 and before January 1, 2009. Repayment to begin for 2010 tax year.	*All revisions are effective as of January 1, 2009*

At today's interest rates, a single person can afford a home in the 300's and a couple can afford a home in the 500's to get the maximum benefit from this program.

By the way, if you're a first time home buyer and are looing for a great buyer's agent, give me a call at 978-580-1069.

brgds,
mike

Sudbury, MA Housing Market Conditions - December 2008

Mike Hunter (William Raveis Real Estate & Mortgage) — Tue, 30 Dec 2008 10:14:48 -0800

It is likely that for much of 2009 the real estate market will not be greatly different than it is now. That is not to say that there should not be some improvement, and that we might actually be within or near the bottoming period of the market. With confidence affected by the financial turbulence/negative media and having a look at the following statistical information, it is likely we will see demand for housing purchases remain subdued in the near future.

One caveat, before we delve into the statistics: the current real estate market is unlike anything many of us have seen in a long while. Although I will be presenting you actual historical information, it is risky to form opinions based on past indicators that most likely are losing their predictive power in this different market environment. As the saying goes, you can't drive forward by looking in the rearview mirror.

Monthly Units Sold: there is very little activity compared to the same periods last year, and what activity there is seems to have peaked in June and July and is in a general decline. Although it's tough to predict the future, given a five-month trend of less and less, especially when compared to the same periods for the previous year, the market environment is unbalanced with too much inventory and prices will have to go down. Even though Sudbury continues to be a desirable town, the bleak economy will make it out of reach for more people than in the past. When buyers' ability to afford to buy here dips, prices will need to fall in order to sell the homes that are currently on the market.

Selling Price to Original Price Ratio: In the beginning of the year sellers and their agents didn't get it that the market had changed and the prices had to drop. Once they figured that out, around May, the ratios climbed to just a bit below their historical averages. The spike in December is a good one, but too little data exists to call it a trend.

In a hot market everything sells, and condition, location and price are not as critical. They may add to days on market, but not prevent an eventual sale. However, in a weak market like we have now, only the "High-Quality" properties sell: homes with desirable locations, updated, staged and in perfect condition, and priced at the correct point where they are seen as the best value among their competition.

If your home is not that "High-Quality" house, for whatever reason, and you are in a situation where you must sell your house and you still have equity in the house, you should be extremely aggressive in your pricing strategy. Based on a number of market factors, including the current inventory levels in Sudbury, prices are likely to continue to fall. You have the option to price to sell quickly in an effort to preserve your remaining equity or you can hold out for a turnaround that probably will not happen for quite a while. We all know the laws of supply and demand. With fewer buyers due to economics and mortgage restrictions there are not enough shoppers to buy all the inventory. Obviously then the most attractive and best valued houses are the ones that will sell.

Monthly Average Sales Price: As the year started, the drop in sales price started with the small, older homes in the neighborhoods of central and south Sudbury. Later in the year, the decline had spread to the multi-million dollar homes in north Sudbury as well. The smaller homes were impacted sooner by foreclosures, short sales, and vacancies among the entry level homes, which in turn caused competitive pricing among sellers. In the middle of the year the slowdown rippled up to the mid-sized home and in the last half to the larger homes. So we see that over the year, the demand reversed itself, with the greatest demand now coming from the smaller homes - incomes match better with the prices of smaller homes and price reductions have obviously gotten buyers excited. Also, one has to wonder, without all the "trick mortgages" out there are we finding out how few people can really afford to pay over a million dollars for a house.

Days On Market: the trend is generally downward, which is very encouraging. It's probably hard to remember, but just a couple of years ago we used to think of a property as "stale" if it had been on the market for 90 days. Looking at the numbers for 2007, I think we can see that the market was much more stable than it became in 2008 when days on market jumped all over the place. I think the trend over the last few months may be more a function of "High-Quality" houses selling and sellers who would like to sell but are waiting on the sidelines for a while for the market to recover, than increased demand.

POSSIBLE IMPROVEMENTS IN THE MARKET
The question on everybody's lips (especially potential buyers of course) is "Will Prices Stop Dropping?" Probably, possibly, maybe. Buyers are mostly on the sidelines, waiting for prices to correct. It will surely soon be apparent to most buyers and sellers, however, that prices are really so close to the bottom that it makes no difference where the exact bottom is. As buyers become more active, this will encourage more potential sellers to list their homes for sale. The likely effect is that there will continue to be a wide choice of homes to buy for the next few months as we approach the "Spring Market" , and it is quite possible that there will be a shortage of "High-Quality" homes to buy.

It generally takes a long-established sellers' market, or at the least a balanced market, with the levels of inventory matching the demand before price stability becomes a reality. What we probably can look forward to in the near future in Sudbury is a bottoming-out in 2009, possibly even happening during the Spring Market. Average sales prices will fluctuate a little just as they have over the past several months. Home sales will continue around their present rate for the coming months and sellers who price their homes for sale at fair market value will sell them reasonably quickly, say in 45-90 days.

The Bottom Line:

For buyers, especially first time home buyers, this is a GREAT time to buy. We are at or near the bottom range in prices, and mortgages rates are at record lows.

For sellers, the near future may continue to present challenges, but the market is expected to start stabilizing this year and if you have a desirable house properly priced, selling it is going to get a little easier.

Now that the traditional busy "Spring Market" is about to begin, if I can be of help to you in buying or selling a home in Sudbury give me a call at 978-580-1069.

Mike Hunter, the House Hunter
Your Neighborhood Realtor for Sudbury and Metrowest Boston.

Coldwell Banker Residential Brokerage
447 Boston Post Rd, Sudbury, MA 01776
Tel: 978.580.1069
Blog: http://househunter3.blogspot.com
Email: Mike.Hunter@NEMoves.com
Web: www.HunterTheHouseHunter.com

Information for charts from MLSPIN. It is deemed Reliable but not Guaranteed.

Most Popular House Colors in Sudbury, MA

Mike Hunter (William Raveis Real Estate & Mortgage) — Sun, 28 Dec 2008 12:31:45 -0800

Urban legend has it that when asked about the color selections of Model-T Fords, Henry Ford was said to have answered, "You can have any color you want as long as it's black".

That was a long time ago, and we all live in a very colorful world now.

To get the latest color trends you only have to watch HGTV or go to the paint department of any respectable home improvement store. But have you ever wondered what the real estate market has to say about the exterior color of your house?

Of course it's a truism that white houses have universal appeal, but there are many other choices, too. So I decided to see how other house colors fared.

We realtors use many different color names, for the purposes of this chart I've simplified the color descriptions somewhat, combining the likes of "buttercup", "briarwood" and "sandalwood" into the "tan" category.

The chart below shows the most popular colors by the number of sales in the MLS-PIN for Sudbury in the year 2008.

I hope you enjoy and find the information useful.

Most Popular House Styles in Sudbury, MA

Mike Hunter (William Raveis Real Estate & Mortgage) — Sun, 28 Dec 2008 12:02:34 -0800

Everybody's heard the old saw about "location, location, & location".

But have you ever wondered what the market has to say about the style of your house?

Although it's hard to go wrong by buying a colonial in Sudbury, there are many other choices, too. So I decided to see how other house styles fared.

Of course, we here in New England have many styles of colonials, such as Cape, Saltbox, Garrison, & Four-Square, for the purposes of this chart I've combined some of them together. If you want to see definitions and examples of House Styles in New England click here.

So below is a pie chart of different house styles in Sudbury showing the most popular styles by number of sales in the MLS-PIN in the year 2008.

I hope you enjoy and find the information useful.

Five Points for BUYERS looking at a SHORT SALE Purchase

Mike Hunter (William Raveis Real Estate & Mortgage) — Sat, 27 Dec 2008 09:47:56 -0800

HOW TO BE SUCCESSFUL IN PURCHASING A HOME THAT IS A SHORT SALE

Mr. Seller goes to his mortgage company(s) and says, "I want to sell, but I don't have any equity and the house is worth less than the amount I owe you. I need to sell anyway because based on my current circumstances, continuing to keep the home is a serious hardship and I can't hold on, so what do I need to do to get out?"

What the Seller has just done is to ask his Mortgage Holders/lienholders to take a loss when his property is sold, this is called a SHORT SALE. lienholders don't like to take losses (an understatement) and they are going to be resistant to this request from Mr. Seller. However, the current "perfect storm" of poor market conditions has forced them into a position where they may agree to Mr. Seller's short sale as long as it is going to be more favorable to them than going to foreclosure - in time, trouble or money lost.

But, (and there is a big, whopping BUT ...) the mortgage companies reserve the right to approve EVERY term, condition and cost of the sale. So not only are we in a Buyer's Market with lots of inventory to choose from, we have a seller who is virtually powerless in the transaction.

ARE THESE NOT THE PERFECT CONDITIONS FOR BEING A BUYER?!!!

There is another short-seller we should discuss, the reluctant seller. While Mr. Seller above is so very motivated, let's take the case of the family that is forced to sell thanks to their loan being one of those adjustable rate or combination loans that has adjusted and is now beyond the point of their ability to pay. They have to sell, they are going through the short sale process, but they really aren't motivated. Why? Because they have to move. And where are they going to move? Depending on their situation their credit may be less than stellar because of late payments and the short sale itself may show as a delinquency on their credit report. Who will rent to them?

Let's say you get into a home to view it and you love it and want to put in an offer. You can do very well by buying a short sale house, but there are some things you need to know about this process. This is the point at which you need to put aside everything you have learned about the sequence of how a home is sold. Here's how you should go about it:

1. GET TO KNOW ALL YOU CAN ABOUT THE HOME.

You are advised by your buyer's agent that this home, typical of most short sales, is being sold "As Is" (see my blog post, "What does 'As Is' Mean?", for more detailed information on this legal term). The seller might provide you with a seller's disclosure of property condition if you're lucky, but that's about all you'll get. They may or may not have pulled permits for upgrades or work done on the house - you'll need to investigate. They definitely will not negotiate issues you uncover during a home/pest/lead paint/radon/mold/septic inspection. Do you spend money to have inspections done or wait for the bank's response? My advice, wait, but be prepared to move forward very quickly once you hear back from the bank.

Also if the property is a condominium or governed by a home owner's association, your bank/mortgage company will most likely require a full set of condominium documents, meeting minutes, recorded deeds, occupancy rates, tenancy ratios, and more (what's called a Full Review). The condominium association can and will charge you money for this. Your mortgage is contingent upon receipt of this, but it's going to cost you around $400 for copying charges. What do you do? My advice is to ask your mortgage broker, and don't do anything to jeopardize your pre-approval/commitment.

You have decided to submit your offer and now the wait is on...

2. PATIENCE IS A VIRTUE, GET READY TO HURRY UP AND WAIT.

A short sale is the sale of a parcel of real estate that is short of the equity needed to sell it and pay off all liens. It is not short "time-wise". You should plan on at least 120 days from your offer, but the amount of time can vary widely depending on the lenders, and if anyone says you will hear back in "x" number of days, you can't believe them.

What happens during the wait? Well, besides Mr. Seller getting anxious waiting for his departure, the short sale file/package/request gets in line in the lender's short sale department (also called the Loss Mitigation Department). This line is long, sometimes very long.

So, what happens during the wait is just that....the wait. Oh, the agent for the seller will be in contact as needed to re-fax lost documents, explain their research, answer questions about the local market, re-fax lost documents, etc. But you, the buyer...you just wait. It's like the military ... hurry up and wait. Or better yet it's like the hospital ... wake up and take this sleeping pill.

Many sellers' agents do not give your buyer agent status updates on what's happening while you wait...you just wait. When I represent the seller, I email the buyer agent every week to say what I know, even if it's nothing, just to make sure that you, the buyer, are still there and somewhat paying attention. But as your buyer agent, there's nothing I can do ... if there were, rest assured, I'd be doing it.

Oh, as the buyer's agent I know what's going on....the paperwork is collected, the file is assigned to a "negotiator" who "negotiates" the short sale with the seller's agent/attorney, and once the negotiator has the file's required documents (exactly what that is varies by the lender) complete, it has to be signed off by their "team leader" or upper management, or a committee of managers. I check with the seller's agent regularly to ask what is happening but again, often there is nothing happening, just waiting....

3. KNOW YOU MAY GET "BUMPED".

Here's the big elephant in the room: you have no guaranteed place "in line." If this short sale's turn in the line comes up on the 120th day after submission, and someone else submits an offer slightly better than yours on day 119, you will be bumped! It is not impossible that a seller's agent will work with offers one at a time until an acceptance is granted and you won't get bumped, but this is a rare occasion, hasn't ever happened to me yet. It's not fair, it's not right, but it is reality. This is because the lienholders are losing money and need the most they can get, and it is the seller's agent's fiduciary responsibility to get the highest and best price for their sellers.

4. AFTER A LONG WAIT YOU MAY BE DISAPPOINTED.

If you are willing to be patient, knowing that you could get bumped, and you're convinced you want to purchase a home that is a short sale, I might advise you to submit multiple offers on multiple short sales. You may get the one you kind of like, and not the one you love, which might be a disappointment. You might not get any one at all, which can be very disappointing. The question then is, how well do you handle disappointment? Can you accept the lost short sale?

5. YOU JUST MIGHT GET A GREAT HOME AT AN EXCELLENT PRICE THAT MAY MAKE YOU SOME GOOD MONEY SOME DAY WHEN YOU SELL.

So why would anyone consider buying a home that is subject to a short sale?

Quite simply - price! If a seller is not going to make any money on the sale of their home anyway, you can imagine they are much more flexible on terms and price of the sale of their home. If you are the only person making an offer on the home (which it has been my experience you are), the bank will need to take your offer very seriously, even if you offer significantly less than the asking price for the house. In many Metrowest Boston neighborhoods, short sales represent some of the best deals around.

There is no reason to be afraid of a home that will be subject to a short sale. In fact they may be some of the best values out there. Just be prepared for a longer timeline, a little more hassle and be sure to use an attorney, mortgage company and if I may be so bold, real estate agent with some experience in short sales. You may just find that incredible hidden gem at a bargain basement price.

Happy House Hunting!!!

Information deemed Reliable but not Guaranteed.

4 Myths About Buying Through the Listing Agent

Mike Hunter (William Raveis Real Estate & Mortgage) — Sat, 27 Sep 2008 12:09:28 -0700

Through my own experience and by hearsay it seems that the urban legend about getting a better deal by buying a house through the listing agent is running rampant. This amazes me since a home buyer is always better off having a Buyer Agent working for them. Thus, here is the real deal on the 4 most common myths......

MYTH 1: I'll get a better price.

Some people think the agent will share negotiating information with them, such as how low the sellers are willing to go. Not so - make no mistake about this.... the listing agent is hired to get the best price possible for the seller. They are ethically and legally required to sell that house for the most money possible. I've also heard the argument that since the seller is saving half of the commission, they can lower the sale price by that amount. This is not the case - the commission is set in the original listing contract, so the seller is paying that amount no matter if the buyer has their own Buyer Agent or not.

MYTH 2: I will get a kickback of at least 1% from the listing agent

Almost all Real Estate brokerages discourage or don't allow this. No Realtor I know would do this. Although there seems to be the urban legend style "I know someone whose [friend, neighbor, cousin, coworker...] did this" it is actually very rare. You also need to know that your mortgage provider may not allow this, and that well into the buying process you could lose your mortgage approval.

MYTH 3: I don't need a Buyer Agent - the listing agent is my agent and will help me

Oh boy, this one always gets me.... Even if you agree to "Dual Agency" which means the agent works for both of you, the listing agent's primary responsibility is ALWAYS, ALWAYS, ALWAYS to help and protect the SELLER. No matter how nice the listing agent may be, when a choice is to be made that is in your interest or the seller's, the agent will always do what is in the seller's interest. This means they do not need to tell you that a dog kennel has been approved to be built on that lot behind you, or that 30 years ago this land was a gun club and no one really knows how much lead is or isn't still in the ground. It is important to remember that if you buy through the listing agent, no one in this whole process is looking out for you.

MYTH 4: The listing agent will get the seller to take a lower price because they are highly motivated to keep the deal together.

This can really backfire for reasons related to Myth 3. You have now created a situation where the listing agent is highly motivated to NOT tell you anything that may make you not want the house. The listing agent is not legally required to voluntarily disclose anything to you since they are primarily the seller's agent. Also, I can tell you from personal experience that a home seller has in their mind the price point they will accept, and what closing conditions they will accept. Their agent cannot "make" them accept a low offer.

A Buyer Agent is paid out of the seller's commission they pay to the listing agent's broker - it costs you nothing, and your Buyer Agent is the only person in the whole home buying process really looking out for your interests. Their role is to protect you from knowable pitfalls, and to get you the lowest price they can on that house. The majority of lawsuits against Real Estate Agents are by unrepresented buyers (those who bought without using a Buyer Agent).

I function as a Listing Agent and am accredited as a Buyer Agent. My preference is definitely to be one or the other in all my transactions. I find ultimately that all the parties involved are better off with the roles and loyalties not blurred.

Mike Hunter, the House Hunter - Your Neighborhood Realtor for Sudbury and Metrowest Boston. If I can be of help to you in buying or selling a home in Sudbury give me a call at 978-580-1069.
Blog: http://househunter3.blogspot.com Email: Mike.Hunter@NEMoves.com
Web: www.HunterTheHouseHunter.com

Coldwell Banker Residential Brokerage447 Boston Post Rd, Sudbury, MA 01776Tel: 978.580.1069
Information deemed Reliable but not Guaranteed.

3 Points on the Market for Sudbury, MA as of September 2008

Mike Hunter (William Raveis Real Estate & Mortgage) — Sat, 30 Aug 2008 15:58:08 -0700

Hello and welcome to Mike the House Hunter's market analysis for the Sudbury, MA real estate market as of September 2008. Rather than the typical nominal Buyer/Seller market information, I am going to give you a complete picture of all segments of the Sudbury market. I hope you'll enjoy it and/or find it useful. BTW if I can be of help to you in buying or selling a home in Sudbury give me a call at 978-580-1069.

First, let's start with the Median House Prices.

Median Home Price Explaination: The median price is a useful statistic and is commonly used by the national market giants like Case-Schiller and others, as it shows the point at which half of the homes that sold in the time period are above and half of the homes are below. As you can see on the chart the median for the year ending December 31, 2007 was $31,750 higher than we are seeing today. Taking the difference between then and now you get a drop of 5.15% from last year, not great, but not catastrophic.

Now, let's go into more depth on the Sudbury market.

There are three distinct segments to this market: entry-level; mid-range; and luxury, and as might be expected, they've all behaved very differently this year.

Buyers and sellers of real estate in the Sudbury market need to look at four charts to truly understand what's happening for each of the price segments, noting that the figures shown are averages for the month.

First, you need to see the number of units sold in each month that will give you an idea of the actual activity that is taking place.
Next, you need to look at the monthly average price which will tell you the general part of the market that is moving off the shelves.
Next, you need to look at the list to sales ratio which will tell you the point at which sellers sell and buyers buy
And last, you need to look at the days on market, which will give you a general idea of the time it takes to sell one of these homes in today's market.

To Begin With, let's look at what's happening in the ENTRY LEVEL MARKET in Sudbury this year so far.

Entry Level Market Statistics Explanation

Monthly units sold: activity seems to have bottomed-out in early summer and is in a general recovery.
List to sales ratio: sellers and their agents needed most of the year to understand (and believe) that the market has changed and the prices have dropped. Once they figured that out, around May, the ratios climbed to just about their historical averages.
Monthly average price: As the number of units goes up, the prices go down - again the buyers, sellers and their agents seem to be getting the message.
Days on market: the time it takes to sell in this price point should not be this high, and reminds us all that a home is not a liquid investment.

Next, let's look at what's happening in the MIDDLE LEVEL (MOVE-UP) MARKET in Sudbury this year so far.

Mid Level Market Statistics Explanation

Monthly units sold: there is very little activity, and what activity there is seems to have bottomed-out in early summer and is in a general recovery, and although it may be too early to call, August figures may be predicting another slide.
List to sales ratio: sellers and their agents in this price range are still in denial that the market has dropped and this is evident in this chart.
Monthly average price: the few homes that are selling are in a very narrow range, which suggests that the traditional move-up buyers are having trouble selling their starter homes, and some of the buyers in this price point may well be first-time home buyers.
Days on market: the trend is generally upward, which is not encouraging if you're a seller, but great if you're a buyer with no house to sell.

And last, let's look at what's happening in the LUXURY MARKET in Sudbury this year so far.

Luxury Home Market Statistics Explanation

Monthly units sold: there is very little activity, and what activity there is seems to have spiked into a general recovery in June (it may be spurred by needing to get into a home before school starts), and although it's tough to predict the future on a three-month trend, August figures are looking like a steady downward slide.
List to sales ratio: luxury homes are very difficult to price, as once you get up to a certain square footage in size, the real differences in price are directly related to the level of detail, fit and finishes, updating, and desired amenities. This chart shows that buyers and sellers have very different ideas of what adds value, an age-old dilemma.
Monthly average price: the few homes that are selling are tending to be in the upper end of the range which sort of reflects the consolidation of wealth in our current economy. As a side note, there does not appear to be a market for properties above $2 million in Sudbury at this time.
Days on market: the trend is generally downward, which is very encouraging, but may be more a function of sellers who would like to sell but are waiting on the sidelines for a while for the market to recover.

In Summary, all Markets are LOCAL!

Just as the national statistics you hear on the news can't tell you how your local market is doing, buying or selling in different price points within a town can be a different experience. I hope the information I've presented here has increased your awareness of the inability to generalize even within a local market, and helped you to be a more informed consumer!

Mike Hunter, the House Hunter
Your Neighborhood Realtor for Sudbury and Metrowest Boston.

BTW if I can be of help to you in buying or selling a home in Sudbury give me a call at 978-580-1069.

Coldwell Banker Residential Brokerage
447 Boston Post Rd, Sudbury, MA 01776
Tel: 978.580.1069
Blog: http://househunter3.blogspot.com
Email: Mike.Hunter@NEMoves.com
Web: www.HunterTheHouseHunter.com
Information deemed Reliable but not Guaranteed.

Please consider the environment before printing this blog.

What I Like About Sudbury, MA ... Now on VIDEO!

Mike Hunter (William Raveis Real Estate & Mortgage) — Sun, 20 Jul 2008 07:04:25 -0700

A while ago I wrote a post on what's great about Sudbury, now here it is on Video. btw We all need housing. We all need to live somewhere. Whether housing prices go up or down, you're going to pay to live indoors. The question is: Do you want to pay a landlord or pay yourself? Somebody's going to get the equity; it might as well be you.

Enjoy

Mike

Mike Hunter, the House Hunter
Your Neighborhood Realtor for Sudbury and Metrowest Boston

Coldwell Banker Residential Brokerage
447 Boston Post Road, Sudbury, Massachusetts 01776

cell: (978) 580-1069
email: house.hunter@comcast.net
web: www.HuntertheHouseHunter.com
blog: http://househunter3.blogspot.com

Oh Great, Now we're in a "Declining Market" and the Appraisal is Low

Mike Hunter (William Raveis Real Estate & Mortgage) — Sat, 15 Mar 2008 09:19:23 -0700

Does this sound familiar to you? If so, I have recent experience and wanted to pass along some tips.

You've found the perfect home for your buyers (after showing them 20 homes in 6 towns), made an offer, negotiated the price and other terms for three days until the wee hours of the night, gotten acceptance and signatures, muddled through all the home inspections (lead paint, mold, radon, water quality, pests, and too many others to name), negotiated the home inspection issues, including getting vendor quotes for the big-ticket items, and then, just when you thought the deal was complete ... on the day of mortgage commitment you get a call that the house has appraised for $50,000 less than the buyers have agreed to pay for it. AARGGH!!

Being a smart Buyer's Agent, you have put a "subject to appraisal at full purchase price" clause in your original offer, so that gives you the right to go back to the sellers and re-negotiate the purchase price (or walk away). But you've already made the sellers cranky with your list of home inspection issues that they've agreed to fix, so, oh yeah, they're in a great mood to hear that you now want the house for $50,000 less. They're going to love you ... NOT!

Appraisers are very important to us, and we have nothing but respect and admiration for them, but they have it very tough right now. There are not many "comps" to use when putting values on properties, due to the general lack of sales, and a lot of the "comps" are at fire-sale prices, short-sales, or after the seller has had six price reductions and just wants to get out. In addition, we are in a "declining market", so appraisers are being very careful and parsimonious in their appraisals. And last, when Appraisers can't find "comps" that are less than 3-6 months old, they are price adjusting older sales down by approx. 1/2 % per month (6% per year), at least they are in the Boston market.

So what do you do? Tell your buyers to contact their attorney, have the attorney give them counsel and do what the attorney recommends. If they don't have an attorney now's the time to get one.

You should also prepare your buyers for the inevitable, that they may have to walk away or put up more of a down payment. Before you have this conversation you should do your own cma on the property and double-check the results ot the appraiser. You should have the cma for the property you made for your buyers at the time of the original offer, so this should be quick and easy.

Next you should prepare your buyers for the possibility that the sellers have every right to get their own appraisal, which may vary from your buyers', and the sellers may try to use this to stand firm on the original agreement. The lender who is giving your buyers the money will only trust their appraiser, period. So be sure to put everything in writing and meticulously stick to every contingency deadline in your agreement to protect your buyer's earnest money. Again, their attorney will be your wing-man/woman.

And last, should the deal fall-through, you should absolutely make sure that you have a fully executed release with both buyers and sellers signatures, before you find the buyers another house to purchase. You don't ever want to put your buyers in the position of having valid contracts to buy two homes.

Oh and by the way, the seller's agent is going to be very cross with you, no matter what the outcome, so it's best to remain professional and let them know that it's just business, not personal. They'll at least respect you for it.

Mike Hunter, the House Hunter
Your Neighborhood Realtor for Sudbury and Metrowest Boston

A Helpful Listing Checklist

Mike Hunter (William Raveis Real Estate & Mortgage) — Tue, 19 Feb 2008 20:43:51 -0800

I was clearing off my desktop and tripped across this and thought it would be useful to pass this along to other Rainers.

When you get busy it's a great checklist to keep in your folders to keep you on track.

(note: some of the stuff is specific to my geography, so you might not need them all)

Assessor's Field Data Card (town hall)
Deed - TH call ahead assessors or homeowner
Board of Health - septic plan
Engineering - plot plan as built
Copy of Tax Bill homeowner
Title Insurance Policy (copy from client)
Title V (copy from client) certificate of compliance
Seller's warranty
MLS form, input
Photographs & measurements
Seller's Inclusions & Exclusions sheet
Keys (3)
Seller's Disclosures
Lead paint sheet
Back up offers sheet
Call Oil Co, Keyspan, Nstar with annual costs, service contract in place
Feature Sheet (also called Beauty Sheet)
Showing instructions to front office
Sign
Lockbox
Sign In sheets
Advertisements
Open Houses

Hope you find it useful.
brgds

Mike

Weston, MA Real Estate Market Report for February 2008

Mike Hunter (William Raveis Real Estate & Mortgage) — Tue, 19 Feb 2008 19:42:42 -0800

Overall, Weston is currently in a strong seller's market, across all price points the average is a 4 month supply.

There is a lot of variation across the various price points, so here's the current data for the Weston Real Estate Market:

If you would like help interpreting the information, or would like some help with marketing your home or buying a home, click here.

Sellers market in the following price points:

$0 - $399,999 there is currently no supply
400,000 - $449,999 there is currently a 1 month supply
$450,000 - $499,999 there is currently a 3 month supply
$600,000 - $699,999 there is currently a 4 month supply
$700,000 - $799,999 there is currently a 4 month supply
$800,000 - $899,999 there is currently no supply
$1,500,000 - $1,999,999 there is currently a 3 month supply

Balanced market in the following price points:

$900,000 - $999,999 there is currently a 5 month supply
$1,000,000 - $1,499,999 there is currently a 5 month supply
$3,000,000 - $3,999,999 there is currently a 7 month supply

Buyers' market in the following price points:

$500,000 - $599,999 there is currently a 10 month supply
$2,000,000 - $2,499,999 there is currently a 9 month supply
$2,500,000 - $2,999,999 there is currently a 36 month supply
$4,000,000 - $4,999,999 there is currently a 18 month supply
$5,000,000 - $9,999,999 there is currently a 8 month supply
$10,000,000 - $99,999,999 there are properties available but no recent market activity

To View The Data from which this report has been compiled click here.

Mike Hunter, the House Hunter

If you would like help interpreting the information, or would like some help with marketing your home or buying a home, click here.

Coldwell Banker Residential Brokerage
447 Boston Post Rd, Sudbury, MA 01776

Tel: 978.580.1069
Email: Mike.Hunter@NEMoves.com
Web: www.hunterthehousehunter.com

Please consider the environment before printing this blog.

Lincoln, MA Real Estate Market Report for February 2008

Mike Hunter (William Raveis Real Estate & Mortgage) — Tue, 19 Feb 2008 19:35:14 -0800

Overall, Lincoln is currently in a balanced market, across all price points the average is a 5 month supply.

There is a lot of variation across the various price points, so here's the current data for the Lincoln Real Estate Market:

If you would like help interpreting the information, or would like some help with marketing your home or buying a home, click here.

Sellers market in the following price points:

$0 - $299,999 there is currently no supply
$400,000 - $449,999 there is currently a 2 month supply
$500,000 - $599,999 there is currently a 3 month supply
$800,000 - $899,999 there is currently no supply
$900,000 - $999,999 there is currently a 4 month supply
$1,000,000 - $1,499,999 there is currently a 1 month supply
$2,000,000 - $2,499,999 there is currently no supply

Balanced market in the following price points:

$700,000 - $799,999 there is currently a 6 month supply

Buyers' market in the following price points:

$300,000 - $349,999 there is currently a 12 month supply
$350,000 - $399,999 there is currently a 48 month supply
$450,000 - $499,999 there is currently a 16 month supply
$600,000 - $699,999 there is currently a 12 month supply
$1,500,000 - $1,999,999 there are properties available but no recent market activity
$2,500,000 - $2,999,999 there is currently a 12 month supply
$3,000,000 - $3,999,999 there are properties available but no recent market activity

To View The Data from which this report has been compiled click here.

Mike Hunter, the House Hunter

If you would like help interpreting the information, or would like some help with marketing your home or buying a home, click here.

Coldwell Banker Residential Brokerage
447 Boston Post Rd, Sudbury, MA 01776

Tel: 978.580.1069
Email: Mike.Hunter@NEMoves.com
Web: www.hunterthehousehunter.com

Please consider the environment before printing this blog.

Concord, MA Real Estate Market Report for February 2008

Mike Hunter (William Raveis Real Estate & Mortgage) — Tue, 19 Feb 2008 19:27:22 -0800

Overall, Concord is currently in a balanced market, across all price points the average is a 7 month supply.

There is a lot of variation across the various price points, so here's the current data for the Concord Real Estate Market:

If you would like help interpreting the information, or would like some help with marketing your home or buying a home, click here.

Sellers market in the following price points:

$0 - $199,999 there is currently no supply
$200,000 - $249,999 there is currently a 3 month supply
$400,000 - $449,999 there is currently a 4 month supply
$800,000 - $899,999 there is currently a 3 month supply
$3,000,000 - $3,999,999 there is currently no supply

Balanced market in the following price points:

$500,000 - $599,999 there is currently a 6 month supply
$600,000 - $699,999 there is currently a 7 month supply
$1,000,000 - $1,499,999 there is currently a 6 month supply
$1,500,000 - $1,999,999 there is currently a 6 month supply

Buyers' market in the following price points:

$250,000 - $299,999 there is currently a 12 month supply
$300,000 - $349,999 there is currently a 9 month supply
$350,000 - $399,999 there is currently a 10 month supply
$450,000 - $499,999 there is currently a 10 month supply
$700,000 - $799,999 there is currently an 8 month supply
$900,000 - $999,999 there is currently an 8 month supply
$2,000,000 - $2,499,999 there is currently a 32 month supply
$2,500,000 - $2,999,999 there is currently a 9 month supply
$4,000,000 - $4,999,999 there is currently a 12 month supply
$5,000,000 - $9,999,999 there are properties available but no recent market activity

To View The Data from which this report has been compiled click here.

Mike Hunter, the House Hunter

If you would like help interpreting the information, or would like some help with marketing your home or buying a home, click here.

Coldwell Banker Residential Brokerage
447 Boston Post Rd, Sudbury, MA 01776

Tel: 978.580.1069
Email: Mike.Hunter@NEMoves.com
Web: www.hunterthehousehunter.com

Please consider the environment before printing this blog.

Acton, MA Real Estate Market Report for February 2008

Mike Hunter (William Raveis Real Estate & Mortgage) — Tue, 19 Feb 2008 19:20:14 -0800

Overall, Acton is currently in a balanced market, across all price points the average is a 6 month supply.

There is a lot of variation across the various price points, so here's the current data for the Acton Real Estate Market:

If you would like help interpreting the information, or would like some help with marketing your home or buying a home, click here.

Sellers market in the following price points:

$0 - $49,999 there is currently no supply
$200,000 - $249,999 there is currently a 4 month supply
$600,000 - $699,999 there is currently a 3 month supply
$700,000 - $799,999 there is currently a 3 month supply
$800,000 - $899,999 there is currently a 4 month supply
$1,500,000 - $1,999,999 there is currently no supply

Balanced market in the following price points:

$250,000 - $299,999 there is currently a 7 month supply
$300,000 - $349,999 there is currently a 6 month supply
$350,000 - $399,999 there is currently a 6 month supply
$400,000 - $449,999 there is currently a 7 month supply
$450,000 - $499,999 there is currently a 6 month supply

Buyers' market in the following price points:

$50,000 - $99,999 there is currently a 12 month supply
$100,000 - $149,999 there is currently a 9 month supply
$150,000 - $199,999 there is currently a 17 month supply
$500,000 - $599,999 there is currently a 8 month supply
$900,000 - $999,999 there is currently a 12 month supply
$1,000,000 - $1,499,999 there is currently a 36 month supply

To View The Data from which this report has been compiled click here.

Mike Hunter, the House Hunter

If you would like help interpreting the information, or would like some help with marketing your home or buying a home, click here.

Coldwell Banker Residential Brokerage
447 Boston Post Rd, Sudbury, MA 01776

Tel: 978.580.1069
Email: Mike.Hunter@NEMoves.com
Web: www.hunterthehousehunter.com

Please consider the environment before printing this blog.

Maynard, MA Real Estate Market Report for July 2008

Mike Hunter (William Raveis Real Estate & Mortgage) — Tue, 19 Feb 2008 19:13:06 -0800

Overall, Maynard is currently in a strong buyer's market, across all price points the average is a 10 month supply.

There is a lot of variation across the various price points, so here's the current data for the Maynard Real Estate Market:

If you would like help interpreting the information, or would like some help with marketing your home or buying a home, click here.

Sellers market in the following price points:

$0 - $149,999 there is currently no supply
$200,000 - $249,999 there is currently a 4 month supply

Balanced market in the following price points:

$250,000 - $299,999 there is currently a 7 month supply
$500,000 - $599,999 there is currently a 6 month supply

Buyers' market in the following price points:

$150,000 - $199,999 there is currently a 28 month supply
$300,000 - $349,999 there is currently a 12 month supply
$350,000 - $399,999 there is currently a 11 month supply
$400,000 - $449,999 there is currently a 12 month supply
$450,000 - $499,999 there is currently a 8 month supply
$600,000 - $699,999 there are properties available but no recent market activity

To View The Data from which this report has been compiled click here.

Mike Hunter, the House Hunter

If you would like help interpreting the information, or would like some help with marketing your home or buying a home, click here.

Coldwell Banker Residential Brokerage
447 Boston Post Rd, Sudbury, MA 01776

Tel: 978.580.1069
Email: Mike.Hunter@NEMoves.com
Web: www.hunterthehousehunter.com

Please consider the environment before printing this blog.

Boxborough, MA Real Estate Market Report for February 2008

Mike Hunter (William Raveis Real Estate & Mortgage) — Tue, 19 Feb 2008 19:03:05 -0800

Overall, Boxborough is currently in a buyer's market, across all price points the average is a 8 month supply.

There is a lot of variation across the various price points, so here's the current data for the Boxborough Real Estate Market:

If you would like help interpreting the information, or would like some help with marketing your home or buying a home, click here.

Sellers market in the following price points:

$0 - $49,999 there is currently no supply
$150,000 - $199,999 there is currently a 4 month supply
$200,000 - $249,999 there is currently no supply
$250,000 - $299,999 there is currently no supply
$300,000 - $349,999 there is currently no supply
$450,000 - $499,999 there is currently a 2 month supply
$500,000 - $599,999 there is currently a 1 month supply
$1,000,000 - $1,499,999 there is currently no supply

Balanced market in the following price points:

$700,000 - $799,999 there is currently a 6 month supply
$800,000 - $899,999 there is currently a 6 month supply

Buyers' market in the following price points:

$50,000 - $99,999 there is currently an 18 month supply
$100,000 - $149,999 there is currently a 16 month supply
$350,000 - $399,999 there is currently a 12 month supply
$400,000 - $449,999 there is currently a 24 month supply
$600,000 - $699,999 there is currently a 10 month supply
$900,000 - $999,999 there is currently a 12 month supply

To View The Data from which this report has been compiled click here.

Mike Hunter, the House Hunter

If you would like help interpreting the information, or would like some help with marketing your home or buying a home, click here.

Coldwell Banker Residential Brokerage
447 Boston Post Rd, Sudbury, MA 01776

Tel: 978.580.1069
Email: Mike.Hunter@NEMoves.com
Web: www.hunterthehousehunter.com

Please consider the environment before printing this blog.

Littleton, MA Real Estate Market Report for February 2008

Mike Hunter (William Raveis Real Estate & Mortgage) — Tue, 19 Feb 2008 18:09:21 -0800

Overall, Littleton is currently in a buyer's market, across all price points the average is an 8 month supply.

There is a lot of variation across the various price points, so here's the current data for the Littleton Real Estate Market:

If you would like help interpreting the information, or would like some help with marketing your home or buying a home, click here.

Sellers market in the following price points:

$0 - $99,999 there is currently no supply
$100,000 - $199,999 there is currently no supply
$200,000 - $249,999 there is currently a 3 month supply
$250,000 - $299,999 there is currently a 4 month supply
$400,000 - $449,999 there is currently a 4 month supply

Balanced market in the following price points:

$450,000 - $499,999 there is currently a 6 month supply
$500,000 - $599,999 there is currently a 8 month supply

Buyers' market in the following price points:

$300,000 - $349,999 there is currently a 10 month supply
$350,000 - $399,999 there is currently a 22 month supply
$600,000 - $699,999 there is currently a 12 month supply
$700,000 - $799,999 there is currently a 18 month supply
$800,000 - $899,999 there are properties available but no recent market activity
$900,000 - $999,999 there are properties available but no recent market activity

To View The Data from which this report has been compiled click here.

Mike Hunter, the House Hunter

If you would like help interpreting the information, or would like some help with marketing your home or buying a home, click here.

Coldwell Banker Residential Brokerage
447 Boston Post Rd, Sudbury, MA 01776

Tel: 978.580.1069
Email: Mike.Hunter@NEMoves.com
Web: www.hunterthehousehunter.com

Please consider the environment before printing this blog.