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Go Inside: 125 Trapelo - Belmont, Massachusetts

Mark Madden | The Madden Team (Century 21 Commonwealth) — Wed, 28 Oct 2009 18:29:24 -0500

Overview

The 125 Trapelo Condominiums is a 41 unit complex located in Cushing Square in Belmont, MA. The building, which was built in 1963, is located on Trapelo Road. Of the 41 units, only 2 bedroom units will come with 1 deeded parking space.

Units & Pricing

Currently there are 5 units available through CENTURY 21 Commonwealth at 125 Trapelo Road in Belmont, MA. The condos start at $179,900 for a renovated 1st floor 1 bedroom condo and go up from there. The condos are either being sold as-is or with a roughly $25,000 upgrade package to look similar to the model unit (pictured below).

For more information on pricing, please email either Mark or John.

The monthly condominum fee will vary based on the size of the condo ranging from $290 to $397. That condo fee includes: Heat, Hot Water, Water, Sewer, Master Insurance, Laundry Facilities, Elevator, Exterior Maintenance, Landscaping and Snow Removal

Area

The 125 Trapelo Condominiums are across the street from the 73 bus stop into Harvard Square or a longer walk to the Waverley Square Commuter Rail. In Cushing Square there are numerous eating options: Savino's, Kitchen on Common, Vicki Lee's, Brother's Pizza and more. There is a Starbucks and a Spirited Gourmet wine, beer and liquor store as well.

$8,000 Tax Credit for Down Payment - Participating Lenders

Mark Madden | The Madden Team (Century 21 Commonwealth) — Thu, 06 Aug 2009 08:11:25 -0500

Participating Lenders for $8,000 Tax Credit Being Used In Downpayment

Below is the list of lenders, as provided by MassHousing, that are participating in allowing buyers to use the $8,000 tax credit up front as down payment and closing costs assistance.

Bank of Canton - www.bankofcanton.com

BankFive - www.bankfive.com

Bristol County Savings Bank - www.bristolcountysavings.com

Cape Cod Five - capecodfive.mortgagewebcenter.com

Eastern Bank - www.easternbank.com

Fidelity Cooperative Bank - www.fidelitybankonline.com

First Easter Mortgage Corp - firsteastern.mortgagewebcenter.com

Greater Springfield Credit Union - www.grscu.org

Greenfield Co-Operative Bank - www.greenfieldcoopbank.com

Hampden Bank - www.hampdenbank.com

Legacy Banks - www.legacy-banks.com

Metro Credit Union - www.metrocu.com

Mortgage Financial, Inc - www.mfsinc.com

NE Moves Mortgage Corp - www.newenglandmoves.com

Polish National Credit Union - www.pncu.com

Rockland Trust Company - www.rocklandtrust.com

Salem Five Mortgage Company - www.salemfive.com

Saugus Bank - www.saugusbank.com

St. Anne's Credit Union - www.stannes.com

Winter Hill Bank, FSB - www.winterhillbank.com

Like any other program, there are restrictions involved with receiving this type of a loan package because it will be financed through MassHousing. There are income restritions and eligibilty restrictions for the program. Please click this link to see these guidelines on the MassHousing website.

The Truth in Lending Act (TILA) Changes

Mark Madden | The Madden Team (Century 21 Commonwealth) — Wed, 05 Aug 2009 11:01:49 -0500

New Changes to the TRUTH IN LENDING ACT

The Federal Reserve has proposed some changes to the Truth in Lending Act (TILA) that will help better protect the consumer and provide less surprises for the consumer during the closing process.

Improve the disclosure of the annual percentage rate (APR) so it captures most fees and settlement costs
Require lenders to show how the consumer's APR compares to the average rate offered to borrowers with excellent credit
Require lenders to provide final Truth in Lending Act disclosures at least three business days before loan closing
Require lenders to show consumers how much their monthly payments might increase, for adjustable-rate mortgages.

These changes will help the consumer to better understand every detail of their financing, while protecting them from the "at the closing table" increase in rates. The second bullet point is great, "Require lenders to show how the consumer's APR compares to the average rate offered to borrowers with excellent credit" because many consumers do not know how much poor credit affects their chances of securing low interest rates in their home purchase. There are many step one can do to increase their credit rating (and no, it does not take too long either).

In conclusion, these changes to the Truth in Lending Act should help consumers to set aside their fears of entering the mortgage world, because disclosures and transparency are becoming the name of the game.

Timeline for Buying Your

Mark Madden | The Madden Team (Century 21 Commonwealth) — Thu, 30 Jul 2009 12:54:39 -0500

Timeline for Buying Your Home Courtesy of The Madden Team

To begin, give The Madden Team a call and get pre-approved for a mortgage. In order to keep you on track for this Timeline for Buying Your Home we have qualified mortgage advisors that we could recommend for you, if needed. This timeline for buying your home represents approximately 60 days. The time periods shown on this chart are fairly typical but may differ in your situation, depending on various needs and negotiations between Buyer and Seller.

DAY ONE - Offer submitted with $1,000 personal check

DAY TWO - Offer accepted; hire a home inspector

DAY 7-10 - Home Inspection completed

DAY 10 - Hire an attorney to look at the Purchase and Sale Agreement

DAY 10-14 - Sign Purchase and Sale Agreement with additional 5%-10% deposit

DAY 16 - Submit completed mortgage application

DAY 28-35 - Lender issues mortgage commitment

1 WEEK BEFORE CLOSING - Obtain home insurance binder for closing

DAY BEFORE CLOSING - Final walk-through

DAY 40-60 - Pass papers at closing (1-2 hours)

Check back for a slightly more indepth explanation of the different stages of The Home Buying Process: Pre-Approval, The Offer, The Inspections, The Purchase and Sale Agreement and The Closing

The Madden Team Listing: 11 Irving Street - Arlington, MA

Mark Madden | The Madden Team (Century 21 Commonwealth) — Wed, 08 Jul 2009 14:35:10 -0500

Open House This Sunday July 12th!
11 Irving Street
Arlington, MA 02476
2:00 - 3:30

Gorgeous 5 room, 2 bedroom, 1 bath condominium in perfect location for quick access to Route 60 and Route 2. Steps to Arlington's downtown and the Minuteman Bike Path, this home features hardwood floors throughout, an updated kitchen and bath and a beautiful common patio. The fireplaced living room leads out onto a 3-season front porch perfect for summer nights. A built-in hutch highlights the good sized dining room. It's time to make Arlington home!

EXTERIOR (DOOR ON LEFT)

LIVING ROOM FIREPLACE

DINING ROOM WITH BUILT-IN HUTCH

COMMON PATIO

Go See Some Fireworks! Where and When Around Eastern MA!

Mark Madden | The Madden Team (Century 21 Commonwealth) — Fri, 03 Jul 2009 11:28:39 -0500

FIREWORK DISPLAYS

July 3rd

Danvers: 9:00 PM at Plains Park

Gloucester: 9:30 PM at The Harbor

Hingham: around 9 PM

Lexington: After Sundown at Center Playground,

Manchester-by-the-Sea: 8:30 PM at Singing Beach

Milford: 9 PM at Plains Park

Needham: Dark at Memorial Field

Orleans: Dusk at Rock Harbor

Sharon: 9:15 PM at Memorial Park Beach

Walpole: 9:00 PM at the field behind town hall

Weymouth: 9:30 PM on the waterfront

July 4th

Acton: 10:00 PM at NARA park

Barnstable: Dusk at Lewis Bay

Bellingham: 9:30 PM at the Football field

Beverly Farms: 9:00 PM at West Beach

Boston: 10:30 PM on the Esplanade

Falmouth: Dusk at the harbor

Marblehead: 9:00 PM at the harbor

Martha’s Vineyard: 9 PM in Edgartown

Nantucket: 9:00 PM off Jetties Beach

Newton: 9 PM at the Halloran Field and Sports Complex

Old Sturbridge Village: Dusk

Plymouth: 9:00 PM on the waterfront

Salem: 9:15 Pm at Derby Wharf

Wakefield: Dusk at North Avenue

Waltham: 9:30 PM at Leary Field

Wilmington: Dusk on the common

Go Inside - The Riverbank Lofts in Watertown, MA

Mark Madden | The Madden Team (Century 21 Commonwealth) — Thu, 14 May 2009 14:28:55 -0500

THE RIVERBANK LOFT at 290 PLEASANT STREET in WATERTOWN, MA

Overview

The Riverbank Lofts is a complex of 56 condominiums in Watertown. The Riverbank Lofts are located at 290 Pleasant Street in Watertown, MA. The condominiums were constructed in 2006 in a building originally built as an office building and then converted into condominiums. Every unit comes with 2 deed parking spaces.

Units & Pricing

The units are all 1 bedroom or studio sized and range in size from around 621 square feet to 1,333 square feet. The units on the first floor have patios, while the back side of the building overlooks The Charles River. The original units came with washer and dryer included in the units, but resale units will obviously have the choice of keeping the washer and dryer if so desired. All units have 1 bathroom.

The monthly condominium fee ranges from the low $200's per month to the high $300's per month depending on size of the unit. The condo fee includes: Heat, Master Insurance, Elevator, Snow Removal, Refuse Removal.

Sales History

The number of sales over the last three years in MLS transactions has ranged from 4 year-to-date in 2008 to 32 in 2006.

2006 - Average Sales Price: $333,475 (10 units sold) with an Average Market Time of 24 days
2007 - Average Sales Price: $332,966 (32 units sold) with an Average Market Time of 93 days
2008 - Average Sales Price: $351,125 (4 units sold) with an Average Market Time of 495 days

Currently there are 4 condominium for sale at The Riverbank Lofts with an average list price of $342,166.33 and there is 1 unit that is currently Under Agreement that was listed at $350,000. For more information on the current listings or to be notified of any new listings at The Riverbank Lofts please email me at mark@smarthomesboston.com or call me directly at 617.448.9481.

Area

The Riverbank Lofts are located along the Charles River Bike Path, which leads all the way into Boston. It also has great access to the Mass Pike, Route 20 and more. With close access to Watertown Square's shops and restaurants this is a great commuter location.

Click Below to see my past Go Inside articles:

Go Inside Archive

The 02472 - Pleasant Street Project Rejected

Mark Madden | The Madden Team (Century 21 Commonwealth) — Thu, 14 May 2009 12:40:04 -0500

02472 Real Estate News
Watertown Planning Board Rejects Plan for Proposed 48 Unit Apartment Building on Pleasant Street

As reported on the Watertown Tab website (www.watertowntab.com), the Planning Board rejected the plans for a 48 unit apartment building at 140 Pleasant Street in Watertown. This building was supposed to take the site where Dan's Auto Service is located, on the river side of the street.

There are pros and cons to every project and citizens came out on both sides. Some mentioned the tax revenue that such a building would bring to the town, while others were against the increased traffic, blockage of sunlight and overall size of the building. To read the article in full, as featured on The Watertown Tab website, please click here.

SOLD Listing Featured in Boston Globe Article

Mark Madden | The Madden Team (Century 21 Commonwealth) — Wed, 13 May 2009 17:08:33 -0500

As seen in the Boston Globe!
One of my recent sold listings was featured in a Boston Globe article about how the stimulus plan is helping Watertown. It was great because they interviewed the buyers who bought the home and showed some of the work that they had begun putting into the home. The buyers talked about realizing that now is a great time to buy because of low home prices, low interest rates and the $8,000 tax credit for first time home buyers.

Take a minute to watch the video or read the article. The buyer talked about receiving a great deal and... he did! It was a house that needed a TON of work in a great neighborhood, so after they put in the effort they'll have a great house in a great Watertown neighborhood.

Click on the picture below to watch the video.

Know Your Market: Watertown, MA Single-Family Market Statistics

Mark Madden | The Madden Team (Century 21 Commonwealth) — Wed, 13 May 2009 16:22:28 -0500

Watertown, Massachusetts Market Statistics
Single Family Homes

The Watertown single family home market has seen depreciation year-to-date both in average sales price and median sales price. Although, total volume of sales is slightly down (26 sales in 2008 vs. 19 sales in 2009), there are some signs of life and some signs of sellers' acceptance of the current market.

As you can see, the average days on market for SOLD homes has decreased by 63% from 93 days in 2008 to 59 days in 2009. This shows that home owners are pricing their homes more appropriately for the current market and receiving offers at a faster rate than previously. Although price are down, inventory is still relatively equal between last year and this year. What this tells me is that home owners who need to sell are not allowing this market to get in their way. Home owners understand that the market being "down" is all relative to when you purchased your home.

For more information regarding Watertown market statistics or to receive the weekly market statistics via email, please contact Mark at mark.madden@commonmoves.com or call him directly at 617.448.9481.

Go Inside: The Village Condominiums - Watertown, MA

Mark Madden | The Madden Team (Century 21 Commonwealth) — Fri, 27 Mar 2009 12:59:54 -0500

The Village Condominiums is complex of 308 condominiums in Watertown. The Village is bound by Lexington Street, Belmont Street and Duff Street, including Pierce Road and Grant Avenue. The condominiums were constructed in 1940, so overtime they have all added their own interior touches. For the most part each unit comes with 1 deeded parking space.

Units & Pricing

There are a range of units size and layouts,but most units are around 1,300 square feet with 2-3 levels of living space (depending on a finished basement). For the most part, the units have 2 bedrooms and 1 bath on the 2nd level. The first level has a kitchen and open living room/dining room combination. I have included the most recent sales prices in the complex.

The monthly condominium fees are around $250. The condo fee includes: Water, Sewer, Master Insurance, Swimming Pool, Exterior Maintenance, Landscaping, Snow Removal, Clubroom, Refuse Removal.

As you can see by the condominium fee, the complex has its own swimming pool and club house which can be rented out for big gatherings. The grounds of The Village are very well maintained.

Sales History

The average sales price over the last five years has ranged from $275,700 in 2003 to $317,712 in 2005.

2003 - Average Sales Price: $275,700 (15 units sold) with an Average Market Time of 65 days
2004 - Average Sales Price: $310,060 (20 units sold) with an Average Market Time of 25 days
2005 - Average Sales Price: $317,712 (28 units sold) with an Average Market Time of 31 days
2006 - Average Sales Price: $302,524 (21 units sold) with an Average Market Time of 64 days
2007 - Average Sales Price: $299,939 (22 units sold) with an Average Market Time of 68 days
2008 – Average Sales Price: $286,714 (7 units sold) with an Average Market Time of 95 days

Currently there are 3 condominiums for sale at The Village ranging in price from $289,000 to $297,500.

Thus far in 2009 only 1 unit has sold at The Village. It was listed at $300,000 and sold for $296,000.

Area

The Village is located only a short walk to the Waverley Square commuter rail into Boston or the 73 Bus to Harvard Square. These condominiums are great for the commuters as they get you away from the city but allow for a single family feel on a condominium budget.

Happy St. Patrick's Day from Mark Madden and Smart Homes Boston!

Mark Madden | The Madden Team (Century 21 Commonwealth) — Tue, 17 Mar 2009 07:41:17 -0500

I wanted to do a very @nik_nik Irish Blessing dedication today to everyone celebrating St. Patrick's Day.

I hope everyone enjoys the day. If you're in the Watertown area and looking for some Irish entertainment or a good meal stop by Fitz's on Main Street in Watertown to watch the Brother of August at 2:00 this afternoon. Fitz's is serving a corned beef dinner for $6.95.

Or you could stop by Donahue's Bar & Grille to have their Traditional Irish Breakfast until 11:00 AM for $9.95. Starting at 11:00 AM they will be serving all-you-can-eat Corned Beef Dinner with Soda Bread for $5.95.

All in all, there is a lot to choose from for Irish entertainment on this St. Patrick's Day. Enjoy and have a great day!

Know Your Market: Belmont, MA Market Statistics [3.16.09]

Mark Madden | The Madden Team (Century 21 Commonwealth) — Mon, 16 Mar 2009 16:57:45 -0500

In an effort to be knowledgebale of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham and Brighton. Below are the market statistics in Belmont, MA. I will be posting the market Statistics for Belmont, MA on Mondays.

The Belmont, MA housing market has seemingly hit a bump in the road according to the most recent market statistics. Single family home prices have depreciated -$109,810 and multi-family home prices have depreciated -$124,500. However, there is promise in the Belmont market and that can be found in the condominiums.

The average sale price for condominium homes has risen $13,302 since last year at this time. There have been 4 sales in 2009, compared to 6 sales last year. There is still room for improvement, mostly in the shape of days on market. Both active condominium homes and sold condominium homes are averaging over 200 days on the market. The reason for this is overpricing. Condominiums are selling at an average of 89% of the original listing price.

Single family homes have seemingly slowed. Comparatively, there has been 10 sales in 2009 to the 25 sales we had at this point last year. We have greater inventory on the market this year, but the homes are sitting on the market for longer period of time due to high prices.

Want some perspective? I know I do! Check out the video to learn if YOU can sell your Belmont home and not lose money. I took the statistics below from an article printed in The Boston Magazine titled "How's the Market Been Treating Your Town?" I talk a bit more indepth about them in the video below. Take a peek.

CAN I SELL IN BELMONT, MA? BRING ON THE PERSPECTIVE!

For more information on my business please click the logo below or email me at mark@smarthomesboston.com. If there is anything you are interested in having me discuss or a certain town/city that you would like market statistics for, please email me or call me at 617.448.9481.

Know Your Market: Newton, MA Market Statistics [3.13.2009]

Mark Madden | The Madden Team (Century 21 Commonwealth) — Fri, 13 Mar 2009 09:38:30 -0500

In an effort to be knowledgebale of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham and Brighton. Below are the market statistics in Newton, MA. I will be posting the market Statistics for Newton, MA on Fridays.

Opportunity is the name of the game in Newton. Newton was featured in an article for Boston Magazine titled "Best Places to Live 2009: The Teflon Ten". In this article it calls Newton condos a cautious buying opportunity because the median sales price is down 5% from 2007.

The Newton Market Statistics definitely present great opportunity for buyers across the board. There is an increase in inventory, a decrease in average and median sales prices and interest rates are still relatively low.

With a rise in inventory that means that there are more options availabe. 203 single family homes in 2009 vs 157 single family homes on the market in 2008.

I know that this will post will worry sellers, but please do not fret. Depending on when you bought, you may still have equity in your home too.

For more information on my business please click the logo below or email me at mark@smarthomesboston.com. This is the first installment of the video series, so anything you are interested in having me discuss then please email me or call me at 617.448.9481.

Know Your Market: Watertown, MA Market Statistics (3.12.2009)

Mark Madden | The Madden Team (Century 21 Commonwealth) — Thu, 12 Mar 2009 15:34:02 -0500

In an effort to be knowledgebale of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham and Brighton. Below are the market statistics in Watertown, MA. I will, typically, be posting the statistics for Watertown on Mondays.

Lets start with Single Family Homes! The average days on market for single family homes has dropped from 110 days at this time last year to 72 days on market for homes that have sold. That is a great sign that there is buyer activity out there and that the low inventory and low prices are driving quicker sales.

WHO CAN SELL IN A DOWN MARKET? It's Perspective Time:

Now, let's tackle the condominium market. We have buyer activity out there because there has been 18 condominium home sales this year and there are 14 more condominiums that are currently Under Agreement. Average sales prices are down, so those who were waiting for prices to drop may be coming off the fence and ready to take advantage of the low interest rates.

What if I bought in 2000? Would it be safe for me to sell now and not lose money? Lets get some perspective.

Oh the multi family homes market, it seems so bad when you look at the numbers. Average sales price are down -$213,955 since last year at this time. There have been 4 sales as compared to 7 last year. There is lower inventory of 14 active properties on the market compared to 26 last year.

Is there good news? Wait... how can the median sales price be $490,000 compared to last year's $445,000. I am confused.

Home Free Sweepstakes: Win a Chance To Have 1 Month's Rent or Mortgaged Paid For You!

Mark Madden | The Madden Team (Century 21 Commonwealth) — Wed, 28 Jan 2009 11:05:08 -0600

The Century 21 Commonwealth Home Free Sweepstakes

Starting February 1, 2009 and running until April 30th, Century 21 Commonwealth is running a sweepstakes where the winner will receive 1 month's rent or mortgage paid for!

So what's the catch?

There isn't one really. Simply stop by a Century 21 Commonwealth Open House or a Century 21 Commonwealth Office and fill out an entry form for your chance to win this incredible prize. Century 21 Commonwealth will pay up to $2,100 to cover your mortgage or rent.

Sound like a great opportunity?

That's because IT IS! All the details of the sweepstakes can be found on the entry form. I would love if you stopped by my open house this Sunday, February 1st to fill out a form and meet me.

My open house will be held at 46 Partridge Street in Watertown, MA between 1:00 PM and 2:00 PM.

I look forward to seeing you there.

The Warren Group Forgets (Again) That Real Estate is LOCAL

Mark Madden | The Madden Team (Century 21 Commonwealth) — Tue, 27 Jan 2009 08:25:19 -0600

Our friends at The Warren Group posted their year end sales results for Massachusetts and since they are the "Trusted Real Estate & Financial Information" source everyone picked up on it, including The Boston Globe.

Here is the information as reported by The Warren Group:

"Sales and prices of single-family homes in Massachusetts fell by more than 11 percent in 2008"

"40,124 single-family homes were sold in 2008, an 11.5 percent decrease from the 45,339 transactions in 2007."

"The median price for a single-family home dropped to a five-year low, tumbling 11.6 percent to $305,000 from $345,000 in 2007."

"For the year, the condo sales plummeted 23.1 plummeted 23.1 percent to 20,132 from 26,162."

I am not arguing the validity of these statements, but rather I am raising the point that real estate can not be considered on such a large scale. Massachusetts, although the sixth smallest state in the U.S. does span 7,838 square miles of land.

Locally, the metrowest Boston area has seen numbers that defy the state of Massachusetts' year end sales statistics.

For instance:

Condominium sales in Watertown, MA have has an increase in median sales from $326,000 in 2007 to $345,000 in 2008.

In Arlington, the median sales price for single-family homes has increased $2,500 from $472,500 in 2007 to $475,000 in 2008. Also, the total number of condominium sales has increased from 202 in 2007 to 226 in 2008.

Belmont saw some slight appreciation, as well, in their single-family market. The median sales price has increased from $690,000 in 2007 to $693,725 in 2008.

Although we have not seen huge gains in our housing market, we have not seen the depreciation that is being reported on a statewide level. Real estate is more than state to state and city to city. One really has to dig into each neighborhood of a town to truly understand how that market is faring.

With a New Year Comes Many Changes... Stay Tuned

Mark Madden | The Madden Team (Century 21 Commonwealth) — Wed, 07 Jan 2009 12:52:49 -0600

Hi all,

I just wanted to drop in for a quick update, because I have not blogged in a couple of weeks. For that I apologize, but there are some great, new things coming to my business that I want to have fully operating and in place before I announce these changes.

These changes are to reflect my personal mission of improving the real estate world, how real estate agents are viewed and more importantly to help the communities that I have always called home.

I am looking forward to introducing you all to these WONDERFUL changes, so stay tuned!

Become Smart Homes Boston's Friend on Facebook!

Mark Madden | The Madden Team (Century 21 Commonwealth) — Fri, 19 Dec 2008 10:32:05 -0600

Become Mark Madden and Smart Homes Boston's Friend on Facebook and Become a Fan!

I use Facebook to update my fans as to new opportunties, events, YouTube videos and more. I'll also be starting to have opportunities for my fans to win prizes and more.

Click the above picture to get started! Thanks and See You on Facebook!

Know Your Market: Arlington, Massachusetts Market Statistics

Mark Madden | The Madden Team (Century 21 Commonwealth) — Wed, 17 Dec 2008 13:13:23 -0600

In an effort to be knowledgebale of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham, Brighton and Allston. Below are the market statistics in Arlington, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Arlington, MA market statistics weekly on Wednesdays.

This week we have some great statistics for Arlington, MA. The overall inventory is down, with condominiums and multi-families have the largest drop in inventory, nearly by half. This is not a bad thing, as those who are listing their house probably have good motivation and they definitely have less competition. The average days on market for active single families is at 150 days, which is a high number. There may be a few single family homes that are in desperate need of a price adjustment. Multi-Families, however, have an active average market time of only 54 days which is a great number for this category.

Single family homes are selling at 96% of the original list price and in only 49 days on market!

Although the total volume of sales has dropped in single family homes and multi-family homes, condominium home sales have actually seen an increase by 26 homes! We have also seen appreciation in both condominium home sales and multi-family home sales. Single family home sales have only depreciated by -$4,132, which is less than 1% depreciation.

Also, all three housing markets have seen an increase or stabilization in the median home sale prices year-to-date.

If you are interested in learning about more Market Statistics or would like to be emailed these statistics on a weekly basis for a particular town, please email me at mark.madden@commonmoves.com

Please click here to visit the Know Your Market Archives.

Another Smart Sale: 1409 Commonwealth Avenue #102 Brighton, MA

Mark Madden | The Madden Team (Century 21 Commonwealth) — Mon, 15 Dec 2008 13:17:13 -0600

I was lucky enough to assist a buyer in the purchase of a great condominium unit at Commonwealth Park in Brighton, Massachusetts. The unit was a 4 room, 2 bedroom, 1 bath with a private patio and 1 car deeded parking.

This is a great complex and there are other opportunities in the building. If you are interested please contact me at 617.448.9481 or email me at mark@smarthomesboston.com

Know Your Market: Watertown, Massachusetts Market Statistics

Mark Madden | The Madden Team (Century 21 Commonwealth) — Mon, 15 Dec 2008 08:05:28 -0600

In an effort to be knowledgebale of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham, Brighton and Allston. Below are the market statistics in Watertown, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Watertown, MA market statistics weekly on Mondays.

This week, we saw a minor drop in listing inventory for both single family homes and condominium homes. The single family homes and multi-family homes have seen a slight decrease in average list price, which is great for buyers in the area. However, condominium homes have seen a slight increase in their average list price, which does not seem to make sense as we enter the deep winter months.

Average market time for the active listings in Watertown has dropped down to 69 days from 81 days. This means that homes are staying on the market shorter now, which is a great sign of good things to come.

There have been 2 more condominium closings since last week, bringing the year-to-date total to 226 sales. This is a small number in comparison to last year when there were 296 sales, a difference of 70 sales.

The depreciaton in single family home sales has decreased, while condominium home sales' appreciation has double since last week. Lastly, multi-family homes have seen a contnued depreciation with an increase in depreciation by more than $5,000.

If you are interested in learning about more Market Statistics or would like to be emailed these statistics on a weekly basis for a particular town, please email me at mark.madden@commonmoves.com

Please click here to visit the Know Your Market Archives.

Please click below to learn how you can help in our Toys for Tots collection campaign!

Know Your Market: Brighton, Massachusetts Market Statistics

Mark Madden | The Madden Team (Century 21 Commonwealth) — Thu, 11 Dec 2008 08:25:02 -0600

In an effort to be knowledgeable of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham, and Brighton. Below are the market statistics in Brighton, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Brighton, MA market statistics weekly on Wednesdays.

[Note: I have changed a few things to the statistics layout, due to requests. I have added the Median Sales Prices from 2008 and 2007 to the chart, along with the overall appreciation or depreciation between the two. In addition, I have changed the "shading" of blocks to reflect positive change (yellow) and negative change (light red). These changes will hopefully help to better read the chart and follow my comments.]

My last Brighton Market Statistics update was on November 19th, so we have seen some changes to the market in the past couple of weeks. There are a lot of yellow square on my chart, which is a great sign of things to come in Brighton Real Estate. Firstly, all inventory is down from two weeks ago which creates less competition for sellers out there. Another positive is that, with the decrease in inventory we have also seen a decrease in average list price in EVERY housing category. Also, in single family homes we have seen a decrease in the average market time.

There has been an increase in sales across the board as well, with condominium home sales making a jump of 9 sales in the past two weeks (including 1409 Commonwealth Avenue, a recent Smart Sale). The average days on market for SOLD listings has either decreased or remained constant in every category.

The depreciation of single family home sales and multi-family home sales (in average sales price) has become smaller. The single families' average sales price depreciation has increased by $9,762. There was a slight increase in condominium home sales' depreciation but nothing to be worried about due to the increase in overall sales.

For median sales prices, all three categories have witnessed a slight decrease in median sales price, creating depreciation in all three categories. The median sales price for 2008 condominiums (as well as average sales price) does include two separate parking spaces sales that made their way onto the MLS. This is why it is important to have an agent who does not only KNOW their market statistics, but also studies them.

If you are interested in learning about more Market Statistics or would like to be emailed these statistics on a weekly basis for a particular town, please email me at mark.madden@commonmoves.com

Please click here to visit the Know Your Market Archives.

Come See What's New at Smart Homes Boston

Mark Madden | The Madden Team (Century 21 Commonwealth) — Mon, 08 Dec 2008 10:36:08 -0600

I've recently been doing some webpage tweaking and am excited to share what's new at The Smart Homes Boston Homepage. Click the image below to look at all that we have to offer at Century 21 Commonwealth and Smart Homes Boston. I am excited about helping many of you in 2009 with your home purchases and sales.

Never hesitate to call me or email me at mark@smarthomesboston.com with any questions, comments, or blog post ideas!!

I look forward to hearing from you all soon. Have a Happy Holiday Season and a Wonderful New Year!

Know Your Market: Watertown, Massachusetts Market Statistics

Mark Madden | The Madden Team (Century 21 Commonwealth) — Mon, 08 Dec 2008 10:21:26 -0600

In an effort to be knowledgebale of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham, Brighton and Allston. Below are the market statistics in Watertown, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Watertown, MA market statistics weekly on Mondays.

So, I want to touch on something this week that I have alluded to in past market statistics. We are now entering the "real" winter months, which has been historically slower for the real estate market (Side Note: We are still very busy at my office, with many accepted offers this past week and many more offers waiting for a yes or no). However, when I look at the market statistics it seems as though the sellers are not understanding the market.

This past week, all three housing categories had an increase in average listing price. This was surprising to me, because the average market time for each category was:

Single Family Homes 81 days on market
Condominium Homes 152 days on market
Multi-Family Homes 160 days on market

Both the condominium homes' average market time and multi-family homes' average market time has exceeded the average market time of homes that have sold this year. This makes me question, if you're home has far exceeded the average market time of a sold home this year, is it possible that it is overpriced? Sorry, this was a rhetorical question because the answer is YES!

Listing agents need to set expectations for their sellers and refuse overpriced listings, because it is a waste of your sellers' time to let a listing languish on the market for 150+ days.

In good news... the homes sales increased in all 3 categories from last week, while last year's year-to-date sales stayed at the same level. Home are still moving and it is a great time to invest in the opportunites currently available in this market.

If you are interested in learning about more Market Statistics or would like to be emailed these statistics on a weekly basis for a particular town, please email me at mark.madden@commonmoves.com

Please click here to visit the Know Your Market Archives.

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