real estate market: Year End Numbers... - 01/24/22 07:12 AM
2021 was another banner year in Real Estate. Single-family home sales in the Pioneer Valley were up .7% over 2020, a record high year in its own right. However, Franklin County was slightly down 5%, with 616 single-family homes sold in 2021, whereas 649 sold in 2020. Hampshire County is down 2%, with 1,269 sold in 2021 compared to 1,272 in 2020.
The Median Price throughout the Valley was up 14%. Franklin County went from $245000 in 2020 to $281,500. Hampshire County $320,000 to $365,777. The original list to sale price was 101% on average.
Days on market, (from list date to accepted … (3 comments)

real estate market: Condo Check In - 12/31/21 06:05 AM
When it comes to reporting the Real Estate activity numbers, I report on the single-family homes most of the time. Rarely reporting on the Condominium numbers. Mainly because there is so little activity here in the upper valley. It is not so much that there is little interest, because there is, but more because there are fewer condominium developments than in the lower valley.
To put this into perspective, condominium sales were up 28% in  Pioneer Valley, with 706 sold in 2020 to 908 in 2021 through November. Only 27 of those sales came from Franklin County, a 22% drop from 2020, … (1 comments)

real estate market: Time to sell... What's next? - 11/22/21 09:07 AM
You decided to sell your home, what's next? The first question on most prospective sellers minds is, what can I sell my home for? So, that is usually the first place we start.
In the initial meeting, we gather the information on the house and property, talk about any planned changes or suggested improvements to maximize the value if the homeowner is looking for that information, and set up another appt to go over the market data to establish the recommended list price.
Time to Sell? What’s next
Once the homeowner is on board with selling, it's time to move toward the pre-listing phase. … (0 comments)

real estate market: Feels like Fall... - 09/20/21 08:07 AM
Where did the summer go? It went by so fast. All the rain, excessive at times, made it feel even shorter. Though the calendar still says it is summer, seeing the mums and pumpkins at the store and starting to pop up on homes and businesses, the kid going back to school and the Franklin County Fair come and gone, it feels like Fall is here.
These, too, are signs that we are moving into the Fall market in Real Estate. There seems to be this shift in focus with buyers and sellers from trying to make a move before the school … (2 comments)

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)

real estate market: The Pressure - 05/21/21 09:53 AM
The competitive real estate market that we are experiencing here in the Valley, across the state, and much of the country has created incredible pressure on all participants in the real estate transaction. In any part of the real estate cycle, whether it be a seller's market or a buyer's market, there typically is pressure and competition on one side. But, in this market, the pressure has been building and is now being felt on all sides.
It's fair to say that we are still in a seller's market—low inventory and an abundance of qualified buyers. Some are local, and some are … (4 comments)

real estate market: Letter to the Sellers - 04/30/21 08:12 AM
As the real estate market continues to be red hot, with many homes receiving multiple offers, buyers are looking for ways to encourage sellers to choose their offer. Recently we have seen an increase in the number of buyers who are writing letters to the seller requesting their letter accompany their offer submission.
 
Writing a letter to the seller seems like a nice thing to do, right? At face value, yes. Depending on what is written in the letter, it could create some unintended consequences. While it looks innocent and not done intentionally, it could put the seller and the seller's agent … (0 comments)

real estate market: The Escalation Clause - 04/17/21 05:51 AM
In an ultra-competitive Real Estate market such as one we are experiencing, prospective buyers are looking for ways to be the one the seller chooses when competing with multiple offers. Some situations cannot be avoided, such as a cash buyer being chosen over a buyer with a low-down-payment requiring PMI. Most sellers will choose a cash buyer over one needing financing, especially loans that will require the seller's house to meet specific standards of loans requiring FHA, USDA, and VA backing, which adds another layer to the loan approval. Buyers are looking to get a leg up on their competition trying to … (4 comments)

real estate market: The color GREEN - 04/06/21 10:59 AM
Color adds to the experience of selling and buying a home. Green is a welcoming color and most anticipated as we leave winter and enter the much-awaited spring. After the pristine white of winter is gone and the grays and browns are left before spring arrives, the much-needed spring clean-up of yards and gardens uncover and await the colors of spring. People associate spring with seeing the grass turn green, and the added colors from crocuses, daffodils, and pansies bring it to life.
Spring traditionally is the most active time in the Real Estate seasonal cycle. Homeowners who have been preparing to … (5 comments)

real estate market: Sight Unseen - 03/03/21 10:04 AM
When selling your home, would you accept an offer from a buyer who has not physically walked through your house, the property or seen the neighborhood or surroundings? Would you accept an offer from a buyer sight unseen?
In the market we are currently in, where there are few homes for sale and more buyers than there are sellers, there are a few reasons why buyers are submitting offers "sight unseen." Some live out of the area and will not be able to view it in person. They rely on photos and videos. Others are concerned with COVID and do not want … (1 comments)

real estate market: Off to a GREAT start - 02/24/21 10:12 AM
2021 is off to a great start in Real Estate here in the Valley. The January single-family home sales were strong. Overall, there was an increase in sales of 7.3% over January 2020. Franklin County saw a 33.3% increase, while Hampshire County only saw a 2.6% increase.
The median price overall was up 17.3% year over year. Franklin County up 34.4% from $200,000 to $268,500. Hampshire County up 25.6% from $267,500 to $336,000. Note: The median price reflects the middle range of the homes that sold. It does not mean the price of homes increased by that percentage. Though there has been … (2 comments)

real estate market: Be Prepared - 02/17/21 09:02 AM
When winter storms, ice, and high winds result in power outages, we could be in serious trouble if we go without power for any length of time. So what is the best way to be prepared for an outage that would protect ourselves and our homes?
Besides having an emergency kit that includes battery-operated flashlights, candles, water, can and dry foods, and blankets, having a gas or propane generator to power the critical parts of your house is something to consider.
Sometimes we take for granted or forget how vital electricity is and what it powers. Especially in the winter, electricity is required … (2 comments)

real estate market: Year-End Numbers Are Telling - 02/03/21 06:35 AM
The year-end numbers are quite telling. They show that the higher-end properties significantly contributed to the robust real estate market here in the Valley. Will we see this trend continue in 2021?
The median sales price of single-family homes sold in the Pioneer Valley in 2020 increased overall by 9.2% over 2019, going from $229,000 to $250,000. Franklin County went from $226,500 to $245,000. Hampshire County $291,500 to $319,900. Much of the increase in the median price has to do with the high-end sales.
In Franklin County, the single-family homes that sold between $300,000 - $400,000 in 2020 were 131, whereas, in 2019, … (1 comments)

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)

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)

real estate market: MLS ~ Multiple Listing Service - 11/10/20 08:34 AM
One of the most commonly used acronyms in Real Estate is MLS. It stands for Multiple Listing Service.
 
The Board of Realtors created the Multiple Listing Services practice shortly after it was established in 1907 and became widely used by Realtors in the 1920s. Though the participants have changed over the last 100 years to allow non-Realtors to use the service on some boards and other participant owned MLS's, the purpose has remained the same.
 
The MLS is a vehicle which allows its participants the ability to disseminate listing information among its participants to serve their clients and customers, and the public better. … (1 comments)

real estate market: The Pandemics Effect on Real Estate... So Far - 09/04/20 08:57 AM
The pandemic has affected us all in one way or another. For those who have contracted the virus, lost a loved one, your employment, or had your world turned upside down because of it causing hardship and heartbreak, my heart goes out to you. Hang in there. Have faith; it will get better. This, too, will pass.
It may be surprising to some but, not surprising to others that the pandemic, in part, has added to the robust Real Estate market that we are experiencing. Our Realtor Association & MLS is reporting numbers for July supporting this very active market. Single-family homes … (0 comments)

real estate market: Is it Value or Marketability? - 08/19/20 11:26 AM
When you make improvements to your home, the question you need to ask yourself before you make any significant changes should be - Will this add to my home's value or make my home more marketable or both? 
 
Value in Real Estate translates into the dollar value of a property. The price a house sells for is considered fair market value. Appraised value is quite often the measurement lenders used to determine value.
 
Marketability is what makes a property appealing to a prospective buyer. Sometimes improvements lean more towards the marketability side than increasing the value. New windows, a new furnace or new … (4 comments)

real estate market: Real Estate Market Cycle Greenfield, Franklin County and Western Mass - 03/18/13 05:49 AM
In Real Estate the most talked about and most well known cycle is The Real Estate Market Cycle in Greenfield, Franklin County and Western Mass and Beyond. You hear people saying that "We're in a Sellers Market" or "It's a Buyers Market" or that "the Market is Leveling off".
 You've heard the term History repeats its self. Well, Real Estate does the same thing.  The Real Estate Market Cycle in Greenfield, Franklin County and Western Mass and Beyond is made up of 3 markets and these 3 markets continually cycle. The cycle goes from a Sellers Market to a Buyers Market to … (0 comments)