massachusetts real estate market: Resources... - 08/18/21 08:19 AM
Whether you are a homeowner, soon-to-be homeowner, thinking about being a homeowner, thinking of selling your home, in the process of selling, or just sold your home, most likely, you will need the help of some type of contractor or service provider.
There are the more commonly used providers such as electricians, plumbers, heating and cooling technicians, inspectors, mortgage lenders, attorneys, painters, landscapers, house cleaners, and movers to the more specialist type like environmental consultants, structural engineers, architects, well drillers, and water testing and septic installers and title 5 inspectors. There are many more.
Since the pandemic, with more people at home, there … (0 comments)

massachusetts real estate market: Market Update - 07/23/21 10:19 AM
The Real Estate market here in the Valley continues to be strong and telling more of the same story.  High demand, low inventory, prices holding and increasing in many areas.
The June numbers show single-family home sales and the median price in the Pioneer Valley combing all three counties are up 20% over June of last year with the exception of Franklin County, which was down slightly, going from 60 sales in 2020 to 54 in 2021. Affecting this decrease is the low supply of homes for sale. At the end of June 2020, there were 140 single-family homes for sale and … (2 comments)

massachusetts real estate market: Percentages can be misleading... - 04/21/21 12:57 PM
Every month, the Realtor Association both local and State releases the monthly single-family and condo sales report. Among other statistics it covers the number of sales and the median price compared to the previous year. It is presented by county and the entire Pioneer Valley as a whole, covering all three counties.
The percentage posted can differ significantly from month to month. As a result, it may give a misleading picture of the market, especially in Franklin County, where the number of homes that sell in any given month is modest. For example, in February, the numbers show that Franklin County saw … (0 comments)

massachusetts real estate market: The Real Estate Contract - 02/10/21 09:48 AM
A real estate contract is slightly different than other contracts in that it must be in writing. While verbal agreements may be allowable in some situations, they are not binding in real estate.
The basic requirements in a real estate contract must include the parties' legal names, the property description, either by the address of deed reference, the purchase price, earnest money deposit to bind the agreement and signatures of both parties. Without all of these elements, the contract is not binding.
The method of payment to the seller, though not a requirement, is expected. The seller will want to know if the … (0 comments)

massachusetts real estate market: November Numbers - 01/12/21 12:23 PM
November was another strong month in Real Estate here in the Valley. The sale of single family homes was up 11.3%, and the median price up 13.5% in all three counties combined compared to November of 2019. Franklin County saw a 37% increase in sales. The median price remained virtually the same, though year to date, it's up 7.2% from $226,750 in 2019 to $243,000 in 2020.
The lack of inventory continues to be a player in the marketplace. At the end of November, there were only 81 single family homes for sale in Franklin County, 108 in 2019. A decrease of … (0 comments)

massachusetts real estate market: Rural Migration - 01/12/21 11:56 AM
COVID has affected us all one way or another, good, bad, sad all the way to feeling lucky and grateful.
Here in the Valley we are fortunate to live in a beautiful rural community. The word is out, others are finding their way here more now than ever.
In the last six months, we have seen an increase in sales, unlike anything I've seen in all my years. We came somewhat close in 1989 and the early 2000s and there has been a continual growth in sales of single-family homes since 2013 and condominiums since 2009, but 2019 is off the charts.  Much … (5 comments)

massachusetts real estate market: The Gift - 12/06/20 11:43 AM
As we enter the Holiday Season, the season of giving, many of us are looking for ideas for gifts for our loved ones.  Why not give the gift that keeps on giving? The gift of homeownership, by providing hope and a goal of owning their first home.
Those who would like to own their first home may need help getting started, whether through support and guidance or financial assistance. Having the funds for a down payment and closing costs can seem like it is so far out of reach for some people.
If you have the means, this is where you can help. … (2 comments)

massachusetts real estate market: Multi-Family vs Single Family Ownership - 12/03/20 06:39 AM
Is owning a multi-family right for you? There is a lot to consider when purchasing a multi-family home. There are pros and cons to choosing to own a multi-family home versus a single-family home. Rental income is a plus, and the driving force more most, but additional responsibility and potential liability need to be considered.
Years ago, many first-time buyers would seek out a multi-family home as their first home. It was and still is a way for them to break into homeownership, get used to being a homeowner, and use the rental income to make improvements to the house and save … (1 comments)

massachusetts real estate market: Multi-Family Ownership 101 - 12/03/20 06:08 AM
So, you want to own a multi-family home? Whether you plan to live in one of the units or plan to purchase a multi-family home as an investment, the process you need to follow, and the responsibilities you will have are very similar. To take this on, you should understand the process.
The first step in choosing a tenant is to advertise, show, and accept applications. The number one rule you must follow is to treat every prospective tenant fairly and the same. Fair housing guidelines can be found at Mass.gov.
Once you have chosen a tenant, you need to decide whether you … (4 comments)

massachusetts real estate market: Checking in on the Market - 11/17/20 10:46 AM
Numbers are in for September numbers confirming the robust market continues. The Sales of Single Family homes throughout the Valley are 6.9%, and the median price is up 15.2%.  Franklin County is up 10%, while Hampshire County is down 24.8%.
Franklin County saw as 9.5% increase in the median price as the high-end homes continue to sell at a record pace. However, year to date, sales are down 4.5%. Considering the market coming to a screeching halt with the announcement of the pandemic, this is understandable. Pending sales up 18.9% 53 to 63 homes in September year over year. The good … (0 comments)

 


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