It is amazing to think just a few short years ago, the real estate market crashed , along with people losing millions in the stock market, and tons of equity in their homes. The metrowest Ma market has always been solid and really has not had many foreclosures but 30-40 minutes West in Worcester was hit hard with foreclosures and even now has a decent amount of foeclosures, but nothing like 2007-2011. The great thing about real estate is that the recovery and appreciation in towns closer to Boston, Like Framingham is usually not as long. Worcester was a very flat market for many years and then just recently over the last 18 months started to see some decent appreciation. It is nice to see a struggling market have a nice recovery period from where it was prior. Worcester is still a great value as far as pricing. You can get a solid home for 175-185K.
Framingham, Natick , Wellesley, Sudbury, Ashland, Holliston, Newton and other nearby towns appreciated nicely over the last couple years and have really worked back to the values lost from prior years.
Open houses in this sellers market in Framingham and the Metrowest area nd other hot markets in Ma. are a great selling tool , whether you are a for sale by owner, or a Realtor in Ma. selling a client's home. Homes now are getting offers at or over asking price even if they are slightly overpriced. The inventory is so slim that many buyers in Framingham and other metrowest towns are fighting over such few homes, so the demand is extreme, and the inventory options are scarce. The smallest amount of showings I have encountered at an open house in 2016 was 5 buyers, and that is actually a good number in a buyer's market.
Buyers need to be prepared to pay asking or over if they want to be competitive, because there are very few homes that are't in multiple offer situations. Even foreclosures, that are a mess are still getting multiple offers from fix and flip investors because the inventory is scarce there too,especially in the Metrowest area. Framingham Realtors know that if they don't allow any showings until the first open house, this will allow all buyers interested to come to the home ,and open up a multiple offer situation , which will bid up the asking price. The benefit to Ma.sellers are , of course, a higher final sales price and better terms.
It is most important to set your buyers expectations in this market that they must be ready to act quickly if they are interested in the property at hand. The housing market is so strong in Ma. right now, that for sale by owners, who may not be great at marketing, or have much experience in the process, or more successfully selling on their own now. Framingham Realtors also need to act quick in convincing sellers of the value they bring , whether expireds, or for sale by owners to list and sell their homes. I am a top negotiator and marketer, so I bring value to sellers and byers in any market. It would be a pleasure to work with you.
Call me anytime for a free market analysis at 774-286-9161.
Dan Greenberger
RE/MAX Executive realty
www.dangreenberger.com
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