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."
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".
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.
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.
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 MarketList 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.
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.
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.
1/8/2008
1/8/2009
1/8/2010
SFH Inventory
65
63
69
Lowest Price
375,000
299,000
398,000
Median Price
889,000
819,900
1,049,500
Highest Price
3,500,000
2,850,000
3,250,000
Avg. Days on Market
149
131
146
Sales Last **30 Days
10
19
21
Median Price
$592,500
$618,000
$700,000
Average Price
$686,290
$739,000
$883,776
Highest Price
$1,240,000
$1,612,000
$2,050,000
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.
Lowest Price: $175,000
Median Price: $655,900
Highest Price: $2,858,536
Average Price: $775,293
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 18th, 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 28th 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.
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:
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?
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.
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