Needham, MA Housing Spring Buying Season Starts Early Due to Tax Credit

The spring real estate market typically takes off in March and runs through May.  Not this year because the buyers watn to claim this year's tax credit which is up to $8,000 for first-time buyers and up to $6,500 for repear buyers.  They must have a signed purchase and sales congtract by April 30.  In addition to that they have to complete the deal by June 30, 2010.  Sales "are going to take off in February and March and really take off in April.  My concern is that the move-up buyer hasn't thought what they need to do.  Their window is really short.  They have to coordinate closing dates."

 -- Jim Gillespie, president & CEO of Coldwell Banker, "Springtime House Hunters out Early Thanks to Tax Credit," by Stephanie Armour, USA Today, Jan. 20, 2010.

I have seen a surge in activity with my clients since December 27th, 2009 in buyers looking and wanted to be in their home before June 30th.  There is increased activity in many areas of Massachusetts.  The inventory is so low now in Needham and the demand is great.  The +inventory is also low in Norwood.  

Total Single Family homes on the market in Needham right now is 70 and there were 7 new homes listed from January 11 to January 18 with 7 homes sold includes properties that went under agreement or pending sales.

Inventory low = Buyer's Market ^

Inventory high = Seller's Market ^

Mortgage applications are on the rise too. ^

Applications for mortgages to buy homes were also up, increasing a seasonally adjusted 4.4%. Meanwhile, 30-year fixed-rate mortgages carried an average interest rate of 5% last week, down from 5.13% the week before.

If you are not an organized person or a bit of a procrastinator you might miss the rush.  Times they are achangin".

Massachusetts Residential Incentives

Incentives/Policies for Renewables and Efficiency

DSIR Database of State Incentives for Renwables & Efficiency

http://www.dsireusa.org/incentives/homeowner.cfm?state=MA&re=1&ee=1

I have listed above the link to Homeowner Incentives for Renewables and Efficiency.  If you are considering some energy saving initiatives in your home this site will help you find what is available in rebates and fnancial incentives for these projects.

Just to name a few:  There are personal Tax Creidts, Property Eax incentives, sales tax exemption, state rebates, utility loan programs.

If you have need of insulation in your attic, let's say here is an option to consider and there are financial incentives to help.  I am recommending the following company services Massachusetts, New Hampshire and Rhode Island.

Green Star Foam Insulation

http://amazinginsulation.com/?keyphrase=green+star+foam&lid=398941208&c=398941172&provider=google

Below is the EnergyStar site:

http://www.energystar.gov/index.cfm?c=tax_credits.tx_index

It just makes sense to do some energy efficient projects to our homes and then to get financial incentives on top of that is like frosting on the cake so to speak.   I say "Rebates Are Great!"

You cannot trust these people.  Look what Barney Frank has done with Fannie Mae,etc.  How did Nancy Pelosi become the Speaker or the House.  This is beyond my comprehension.  That is why there is a grassroots campaign for Scott Brown.  He will win.  Peoople are angry and they are from democrats to unrolled or independent.

Scott Brown is actually presidential.  He is a man at peace with himself.  He is not a phoney and he delivers.  He is my state Senator right now and he is absolutely the best.

We are taking back America.  I am praying for Scott Brown to win big and I am not alone.

Needham, MA Market Report One Month

From 12/18/2009 to 1/18/2010

There are 77 properties on the market as  I write thiis

There are 15 properties under agreement from $425,000 to $1,299,000 with an average days on market of 88 days.

The average list price for properties under agreement is $$782,459

Very little coming on the market at this point in all price ranges and as usual the properties that are priced right sell right away. 

                                                                                                                                                      Days on Market   List Price

		UAG	137 Hunnewell Street	Needham, MA	5 room, 2 bed, 2 bath Ranch	43	$425,000
		UAG	16 Hawthorn Ave	Needham, MA	5 room, 2 bed, 1 bath Ranch	1	$449,000
		UAG	983 Webster Street	Needham, MA	8 room, 4 bed, 2 bath Colonial	130	$599,000
		UAG	3 Meadowbrook Rd	Needham, MA	7 room, 3 bed, 1.5 bath Garrison	26	$600,000
		UAG	175 Broad Meadow Rd	Needham, MA	7 room, 3 bed, 1.5 bath Colonial	8	$609,000
		UAG	24 Douglas rd	Needham, MA	9 room, 4 bed, 2 bath Cape	5	$619,000
		UAG	120 Wyoming Avenue	Needham, MA	7 room, 3 bed, 2 bath Cape	2	$629,000
		UAG	147 Thornton Road	Needham, MA	7 room, 3 bed, 1.5 bath Colonial	20	$629,000
		UAG	298 Marked Tree Rd	Needham, MA	8 room, 4 bed, 3 bath Colonial	102	$679,888
		UAG	40 Pond Street	Needham, MA	7 room, 4 bed, 3 bath Colonial	25	$775,000
		UAG	74 Meadowbrook Road	Needham, MA	12 room, 5 bed, 3 full, 2 half bath Colonial	675	$895,000
		UAG	55 Norwich Rd	Needham, MA	9 room, 4 bed, 2.5 bath Cape	81	$995,000
		UAG	80 Stockdale Road	Needham, MA	9 room, 4 bed, 4.5 bath Colonial	96	$1,249,000
		UAG	135 Harris Ave	Needham, MA	9 room, 4 bed, 3.5 bath Tudor	50	$1,285,000
		UAG	56 Barbara Rd	Needham, MA	9 room, 4 bed, 3.5 bath Colonial	55	$1,299,000

The price range between $600,00 and $850,000 continues to be the most popular.  When those properties come on if they in great shape and priced correctly they will sell immediately. 

Our single family home inventory in Needham, MA is very low and we are in an early spring market from my prespective.  I have been busy since December 27, 2009.  I anticipate that this will continnue for the next several months.

Needham Recently Sold Homes

The miracle is Scott Brown will be elected.  We will celebrate so bigtime.  We are going to be set free.  Scott Brown is a great state Senator and we love him in Norfolk County and Needham.  I was born in Chelsea/Boston, MA and I was raised in a democrat family but they left us.  I then left them.  Clearer now than ever we need someone to take the "people's seat."  Let's take back our state and county.  You may not agree with me but that is ok.  I can't hep but share this great video.

Needham, MA Market Report

At this point in the Needham, MA real estate single family home inventory we are at a very low inventory.  In comparison I have prepared a chart below to compare 1/8/2008, 1/8/2009 and 1/8/2010.  Yet at this time last year the inventory was even lower.

Spring market is really just around the corner and hopefully the weather is going to warm up.    The average price is increased year over year for this time period.

The high inventory is in the $600,000 to $699,999 with 9 and 27 homes on the market in the $1,000,000 to $1,499,999.

There are 17 condominiums currently on the market between $185,000 and $1,375,000 with average days on market of 114.

There is 1 two-family listing on the market at $489,000. 

There are 5 land listings from $440,000 to $998,000.

There are 19 rental listings from $600.00**to $9,000.

With the tax extension I believe that will keep the real estate market moving right along in Needham, MA

There were 273 single family homes sold in 2009 at 96% of asking price and 93% of the original price as an average with an average days on market of 89 days.  See breakdown below.

I have experienced an increase in activity personally even just since December 27th, which is a nice way to start the new year off.

I Can Drive Again and I am So Thankful to my Needham, MA CBRB Associates

What an amazing bunch of people in my office.  I cannot say enough about the team of people we have.  On November 18^th, 2009 I fell and broke both right lower arm bones, dislocated one and broke my elbow.  I was a mess.  I could not write because I am right handed.

I was told that I could not drive for 2 to 3 months.  Well it was shortened by 5 weeks, thank God.  During the time of healing I had to be driven everywhere.  So many of my associates picked me up and took me to my therapy appointments at the Faulkner Hospital in Boston, Jamaica Plain, MA.  They not only did that but asked me if I needed an errand done.

For the first 4 weeks my associates brought me meals, showed my listings, took clients out for me, took me on listing presentations, rides to and from the office,   and just went above and beyond.  I am so grateful to all of them.

I have always been proud to work with the group but they have just been so terrific to me and kind in so many ways.

I am also grateful for the accepted offer I received on the 28^th of December and the new listing, two new clients while I was not really able to doing much and besides that this is supposed to be a quiet time over the holidays.   I am really blessed with a wonderful family, fabulous friends and unbelievable co-workers.

I must say that I enjoyed the holidays even more this year and was able to get to the Boston Ballet "The Nutcracker" for my granddaughter's performance as the Russian doll.  There were many joys this November and December which I will always remember and m friends and family were amazing too but to when I think of my co-workers I just get choked up to think they did so much for me out of the kindness of their heart and at a really busy time for all of them.

I will never forget what my co-workers did for me and I don't even know if they really how much they blessed me by every kindness they did.

I am also so glad I can drive again.  It was hard looking at that car sitting my driveway and yet I could not drive.  My recovery was quick and I am just so thrilled about that of course. 

Needham, MA Needham Bowlaway

Recently I took my 2 grandsons to the Needham Bowlaway.  They loved it and want to go back.  If you need something to do with the children before they return to school on Monday this is a great place to go.  My grandsons are 10 and 6.  The bowlaway was a blast for them.  I liked it because they were not distracted by those games that are at the movies and other bowling places and it is right here in Needham.

We are fortunate to have this in our town.  They have been in business a very long time but the decor is current and catchy to the children.  I am not ruling out adults for this fun experience.  One of those best kept secrets that I want to bring to the attention of the Needham population and beyond.

It is cosmic bowling.

What is Cosmic Bowling?

Cosmic bowling is basically Disco Bowling. It's like a nightclub atmosphere that's family friendly. During Cosmic Bowling, we have:

Black Lights

Disco Balls

A Fog Machine

Loud Thumping music

Different colored spinning lights

Glow in the dark balls

No Alcohol

No Food

No Age restrictions

http://www.needhambowlaway.com/ 

Checkout the website for more information on leagues and prices, lots pictures too on the site.  The pictures are really neat.  Take a peak.

Of course I love history and the Needham Bowlaway is one of the oldest businesses in Needham but current and fun.  There is more history on the site.  Neat huh?

Massachusetts Monthly Activity Report

This report really shows how the active property inventory is November 09 lower than the entire year and take a look at November of 2008 in comparison.  This is certainly encouraging.  it is great to hear all the good news too about the housing industry.  The Needham, MA home market activity is strong and the buyers are looking.  I have been very busy these last 2 weeks personally and at a time when things are really quiet in general.

It is also an excellent time think about getting contractors in to do some much needed work on your existing home and remodeling.   Interior painting would be a great start.  Take an inventory of those little things that need to be done.  Could be a ceiling or a missing knob here or there.  Also consider some energy-saving items that you could do for your pocketbook.  Contact MassSave and schedule an energy assessment 866-527-7283.  There are some great rebates for insulating.

The best bang for your buck in a minor kitchen remodel, window replacement, master suite addition, siding. The Realtors Cost versus Value report ranks high 10 of the 33 projects to be exterior projects.  When folks are looking at property they are looking at location and then for "curb appeal" always.  Take a look at this site for more detail.

http://www.remodeling.hw.net/2009/costvsvalue/division/new-england/city/boston--ma.aspx

Spring comes in February real estate-wise so it is definitely a good time to get to some projects you have been mulling around in your mind.