Wellesley, Needham, and Natick third quarter year to date results are in!

John Prescott, Vice President | Century 21 Commonwealth | 508-523-9252 64 Regent Circle, Brookline, MA **OH, SUN 8/30, 12:30-2** Washington Square area one block from Beacon Street and the "T". One car garage & 2nd space. 3BR/2.5BA Townhouse offered at $699,000 Year Built 1984 Sq Footage 1,909 Bedrooms 3 Bathrooms 2 full, 1 partial Floors 3 Parking 1 Car garage Lot Size Unspecified HOA/Maint $311 per month DESCRIPTION Prime location one block from Beacon Street, the "T", & Washington Square. Modern town home with flexible living space.First floor could be 3rd.BR/Den. New cherry/granite/stainless kitchen, master bath, lavatory, roof, & HVAC all in the past two years! PROPERTY FEATURES - Central A/C - Central heat - High/Vaulted ceiling - Walk-in closet - Hardwood floor - Tile floor - Family room - Living room - Dining room - Dishwasher - Refrigerator - Stove/Oven - Microwave - Granite countertop - Stainless steel appliances - Attic - Washer - Dryer - Laundry area - inside - Balcony, Deck, or Patio OTHER SPECIAL FEATURES - Direct entry garage. 2007 Updated: kitchen, baths, roof, heating, cooling Contact info: John Prescott, Vice President Century 21 Commonwealth 508-523-9252 For sale by agent/broker

Results Are In!..Local Real Estate Market… Wellesley, Needham, Natick

As I have reported earlier this year the market varies greatly by town.

Needham and Natick are demonstrating stability and equilibrium with sales and inventory in balance.

Wellesley on the other hand has seen both sales units and dollar volume plummet by 42.8%  and 51.3% respectively.

Combine drastically lower sales in Wellesley with inventory that has skyrocketed 74.8% and you get a market significantly out of  balance.

Perhaps sellers are trying to out wait cautious buyers?  More likely, by waiting to reduce their asking prices, sellers will ultimately have to sell at an even lower price. The alternative is to not move.

NEEDHAM and NATICK are stabilizing and WELLESLEY needs a dose of reality to regain equilibrium.

Percentage Change for the First Half of 2009 vs. 2008

………………………NEEDHAM……… WELLESLEY ………..NATICK

SALES Units.………….. flat…………………...…..- 42.8%…………………….. – 11.0%

$ VOLUME ……………- 2.6%……………………. – 51.3% ……………………..- 14.1%

Median price………….. flat ………………………..- 3.7% ………………………+ 4.9%

 

Units in Inventory….. + 2.6% ……..  ……………. + 74.8% …………………….- 12.5%

Two major factors are at play in the local real estate markets. The basic law of supply and demand, or in the case of Wellesley, oversupply, and the credit markets that remain heavily biased against jumbo loans needed to finance the vast majority of homes in Wellesley.

Despite some modest improvement from the first quarter, the numbers tell us that home prices in Wellesley still face downward pressure before the market will gain equilibrium.

Your thoughts?

John Prescott, Vice President

CENTURY 21 Commonwealth

508-523-9252

…JOHN gets results because he knows his business!

BROOKLINE, Washington Square Town Home, OH’s SAT 7/18, 10:30-12, SUN 7/19,1:30-3 PM

BROOKLINE, Washington Square Town Home

FIRST OPEN HOUSE TODAY!

SUNDAY 7/12, 1-3 PM

bostonkayakguy.wordpress.com — OPEN HOUSE SPECTACULAR! HIGHLY sought after Washington Square location convenient to T, cafes, shops. Parking, patio, super kitchen, light, bright and airy! AND SUPER PRICE! ...Call John Prescott 508-523-9252 www.johnprescottnet...See you at the OPEN HOUSE! ...64 REGENT CIRCLE, BROOKLINE

 

BROOKLINE, Washington Square Town Home, 1st. OH 7/12, 1-3 PM

A look at the courageous battle waged by Farrah Fawcett...

 

Farrah Fawcett Documentary…

~~

A Poker Group with Panache…

John Prescott's The MetWest Scene

bostonkayakguy.wordpress.com — When the poker buddies dine, they do it in style! No chips and dip for this group - how does authentic CANTONESE and SZECHUAN CUISINE with specially selected wine pairings sound? In South Natick it's called poker with panache...

(more) BostonKayakGuy...John Prescott's The MetWest Scene

 

 Full Story on bostonkayakguy.wordpress.com

 

With my wife out of town , it was serendipity for me to be one of the chosen few to recently be invited to a ten course gourmet meal, with specially selected  paired wine for each course.

Not long ago Ed , a friend, neighbor and our poker group’s resident wine steward, proved to be a consummate host and skilled sommelier for a Chinese Banquet that he hosted for his poker buddies and other assorted luminaries at The Royal East restaurant in Cambridge.

Salt & peppered LIVE shrimp flash fried to perfection, kicked off the culinary orgy.

Ed, taking the lead and making certain his guests felt comfortable, demonstrated the proper consumption technique of popping the entire shrimp complete with head and shell into...(continued on http://bostonkayakguy.wordpress.com)

 

 Full Story on bostonkayakguy.wordpress.com