All About Massachusetts Real Estate

By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Why Now Is a Great Time To Sell Your House As we near the end of the year, more homeowners are realizing the benefits of today’s sellers’ market. Record-breaking home price appreciation, growing equity, low inventory, and competitive mortgage rates are motivating homeowners to make a move that addresses their changing lifestyles. In fact, recent data from realtor.com shows a larger share of homeowners are planning to list their houses this winter. So, that means more homes are about to hit the market, which will lead to more choices for buyers too. According to George Ratiu, Manager of Economic Research at realtor.com: "The pandemic has delayed plans for many Americans, and homeowners looking to move on to the next stage of life are no exception. Recent survey data suggests the majority...
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By James Harrison, Selling Made Easy
(Boston Bayside Properties)
Real estate has long been considered a solid investment for many reasons. It is a relatively safe and easy way for people to build wealth, beginning with a small amount of money. If you are interested in investing in real estate, I’d be happy to help you find the right properties.Here are some of the ways investing in property can help you build an investment portfolio.1. Real estate investments can provide you with a reliable and steady cash flow. Investing in rental properties is relatively easy as expenses are predictable, and if your properties remain occupied, you know what to expect in terms of profit margin.  2. Real estate appreciates in value. Real estate consistently appreciates, even during economic downturns, making it one of the more reliable investments. On average, real e...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
How Smart Buyers Are Approaching Rising Mortgage Rates Last week, the average 30-year fixed mortgage rate from Freddie Mac inched up to 3.1%, and experts project rates will continue rising through 2022: “The 30-year fixed-rate mortgage was 2.9% in the third quarter of 2021. We forecast mortgage rates to increase slightly through the remainder of the year and reach 3.0%, rising to 3.5% for full year 2022.” If you’re thinking of buying a home, here are a few things to keep in mind so you can succeed even as mortgage rates rise. Taking Time Off Can Be Costly Mortgage rates play a significant role in your home search. As rates go up, your monthly mortgage payment increases if you’re buying a home, directly affecting how much you can afford. And even the smallest increase can have a large im...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Don’t Believe Everything You Read: The Truth Many Headlines Overlook There are a lot of questions right now regarding the real estate market as we head into 2022. The forbearance program is coming to an end and mortgage rates are beginning to rise. With all of this uncertainty, anyone with a megaphone – from the mainstream media to a lone blogger – has realized that bad news sells. Unfortunately, we’ll continue to see a rash of troublesome headlines over the next few months. To make sure you aren’t paralyzed by a headline, turn to reliable resources for a look at what to expect from the housing market next year. There are already alarmist headlines starting to appear. Here are two recent topics you may have seen in the news. 1. Foreclosures Are Spiking Today There are a number of headli...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
4 Ways Homeowners Can Use Their Equity Your equity is a powerful tool that can help you achieve your goals as a homeowner. And chances are, your equity grew substantially over the past year. According to the latest Equity Insights Report from CoreLogic, homeowners gained an average of $51,500 in equity over the past year. If you’re looking for the best ways to use your growing equity, here are four options: 1. Use Your Equity To Buy a Home That Fits Your Needs If you’re finding you no longer have the space you need, it might be time to move into a larger home. Or, it’s possible you have too much space and would like something smaller. No matter the situation, consider using your equity to power a move into a home that fits your changing lifestyle. Moving into a larger home can provide e...
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By Zachary Parker, Real Estate Marketing Pro | SEO Gun for Hire
(ProSource Media)
The number of vacant apartments in Boston saw an alarming spike in 2020 thanks primarily to remote learning policies at local schools in response to COVID-19.  In a city where the vacancy rate rarely crests above 3%, the pandemic sent shock waves through the local rental market when Boston's vacancy percentage hit 7.73% in September of 2020.  Since then, that figure has rapidly contracted to 1.22% and is currently sitting lower than where it was in November 2019 before the pandemic.  So it’s safe to say that Boston’s apartment rental market has made a full recovery from COVID-19.  When students came back to Boston for the Fall 2021 semester, it effectively wiped out the inflated apartment inventory and steadied the ship.  If there was ever a doubt as to the rental market’s dependency on...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Home Sales About To Surge? We May See a Winter Like Never Before. Like most industries, residential real estate has a seasonality to it. For example, toy stores sell more toys in October, November, and December than they do in any other three-month span throughout the year. More cars are sold in the U.S. during the second quarter (April, May, and June) than in any other quarter of the year. Real estate is very similar. The number of homes sold in the spring is almost always much greater than at any other time of the year. It’s even labeled as the spring buying season. Historically, the number of buyers and listings for sale significantly increase in the spring and remains strong throughout the summer. Once fall sets in, the number of buyers and sellers typically drops off. Last year, ho...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Retirement May Be Changing What You Need in a Home The past year and a half brought about significant life changes for many of us. For some, it meant entering retirement earlier than expected. Recent data shows more people retired this year than anticipated. According to the Schwartz Center for Economic Policy Analysis, 2021 saw a retirement boom: “At least 1.7 million more older workers than expected retired due to the pandemic recession.” If you’ve recently retired, your home may not fit your new lifestyle. The good news is, you’ve likely built-up significant equity that can fuel your next move. According to the latest Homeowner Equity Insights report from CoreLogic, homeowners gained more than $50,000 in equity over the past 12 months alone. That, plus today’s sellers’ market, presen...
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By Doug Dawes, Your Personal Realtor®
(KW Evolution - Topsfield, MA)
Owning your own home and land is the dream for people all over the world. It provides security and a place in society. It is also a source of wealth-building imho.For men and women who serve(d)in the United States military, our government provides assistance in housing through the VA home loan program. VA Loans: Helping Veterans Achieve Their Homeownership Dreams \ The purpose of Veterans Affairs (VA) home loans is to provide a pathway to homeownership for those who have sacrificed so much by serving our nation. As the Veterans Administration  says of the program: “The objective of the VA Home Loan Guaranty program is to help eligible Veterans, active-duty personnel, surviving spouses, and members of the Reserves and National Guard purchase, retain, and adapt homes in recognition of the...
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By Westchester Modular Homes Construction Corp, Westchester, Putnam, Rockland, Dutchess, Orange
(Westchester Modular Homes Construction Corp)
YOU ARE INVITED! Register for the LIVE VIRTUAL FACTORY TOUR on Wednesday, December 1st, 2021 @ 6:30 PM EST www.vt-sign-up.com Experience a live virtual tour of our actual design center and factory plus models located at the factory, as well as custom homes that our clients have allowed us to shoot in 3D and share with you.Find out how the entire modular building process works - from initial site work and permits to completed, fully landscaped custom designed home. We can build your next home in any style, size and layout. If you are interested sign up at www.vt-sign-up.comWhat will you learn by attending the Live Virtual Factory Tour? The benefits & advantages of modular construction The design software & how you can take a 3D walkthrough of your home before its built How the entire pr...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
4 Things Every Renter Needs To Consider As a renter, you’re constantly faced with the same dilemma: keep renting for another year or purchase a home? Your answer depends on your current situation and future plans, but there are a number of benefits to homeownership every renter needs to consider. Here are a few things you should think about before you settle on renting for another year. 1. Rents Are Rising Quickly Rent increasing each year isn’t new. Looking back at Census data confirms rental prices have gone up consistently for decades (see graph below):If you’re a renter, you’re faced with payments that continue to climb each year. Realtor.com recently shared the September Rental Report, and it shows price increases accelerating from August to September (see graph below):As the graph...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Sellers: You’ll Likely Get Multiple Strong Offers This Season Are you thinking about selling your house right now, but you’re not sure you’ll have the time to do so as the holidays draw near? If so, consider this: even as the holiday season approaches, there are plenty of buyers out there, and they really want your house. Here’s why selling this winter is a win for you. Today’s buyers are still dealing with a limited number of homes for sale. Thanks to continued low inventory, those buyers are competing with one another for their dream home. And when that happens, if your house is one of the few on the market, it will rise to the top of the pool – and it will be worth it. According to the latest data from the National Association of Realtors (NAR), the average seller received 3.7 offers...
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By Westchester Modular Homes Construction Corp, Westchester, Putnam, Rockland, Dutchess, Orange
(Westchester Modular Homes Construction Corp)
Register for the LIVE VIRTUAL FACTORY TOUR on Wednesday, November 17th, 2021 @ 5:00 PM EST www.vt-sign-up.com Experience a live virtual tour of our actual design center and factory plus models located at the factory, as well as custom homes that our clients have allowed us to shoot in 3D and share with you.Find out how the entire modular building process works - from initial site work and permits to completed, fully landscaped custom designed home. We can build your next home in any style, size and layout. If you are interested sign up at www.vt-sign-up.comWhat will you learn by attending the Live Virtual Factory Tour? The benefits & advantages of modular construction The design software & how you can take a 3D walkthrough of your home before its built How the entire process works 3D t...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
How Sellers Win When Housing Inventory Is Low In today’s housing market, the number of homes for sale is much lower than the strong buyer demand. As a result, homeowners ready to sell have a significant advantage. Here are three ways today’s low inventory will set you up for a win when you sell this season. 1. Higher Prices With so many more buyers in the market than homes available for sale, homebuyers are frequently getting into bidding wars for the houses they want to purchase. According to the latest data from the National Association of Realtors (NAR), homes are receiving an average of 3.7 offers in today’s market. This buyer competition drives home prices up. As a seller, this certainly works to your advantage, potentially netting you more for your house when you close the deal. 2...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Two Graphs That Show Why You Shouldn’t Be Upset About 3% Mortgage Rates With the average 30-year fixed mortgage rate from Freddie Mac climbing above 3%, rising rates are one of the topics dominating the discussion in the housing market today. And since experts project rates will rise further in the coming months, that conversation isn’t going away any time soon. But as a homebuyer, what do rates above 3% really mean? Today’s Average Mortgage Rate Still Presents Buyers with a Great Opportunity Buyers don’t want mortgage rates to rise, as any upward movement increases your monthly mortgage payment. But it’s important to put today’s average mortgage rate into perspective. The graph below shows today’s rate in comparison to average rates over the last five years:As the graph shows, even tho...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Numbers Don’t Lie – It’s Still a Great Time To Sell Some Highlights Heading into the end of the year, you might wonder if it’s still a good time to sell your house. Here’s what the latest data from the National Association of Realtors (NAR) says. Housing supply is lower than last year, and home prices are up nationwide. Meanwhile, the average home is selling fast and receiving several offers. Listing now puts your house in the spotlight, meaning it could sell quickly – and for more than you’d expect. Feeling motivated? If you’re ready to sell and capitalize on today's market, let’s connect.
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Why a Wave of Foreclosures Is Not on the Way With forbearance plans coming to an end, many are concerned the housing market will experience a wave of foreclosures similar to what happened after the housing bubble 15 years ago. Here are a few reasons why that won’t happen. There are fewer homeowners in trouble this time After the last housing crash, about 9.3 million households lost their homes to a foreclosure, short sale, or because they simply gave it back to the bank. As stay-at-home orders were issued early last year, the fear was the pandemic would impact the housing industry in a similar way. Many projected up to 30% of all mortgage holders would enter the forbearance program. In reality, only 8.5% actually did, and that number is now down to 2.2%. As of last Friday, the total num...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Experts Project Mortgage Rates Will Continue To Rise in 2022 Mortgage rates are one of several factors that impact how much you can afford if you’re buying a home. When rates are low, they help you get more house for your money. Within the last year, mortgage rates have hit the lowest point ever recorded, and they’ve hovered in the historic-low territory. But even over the past few weeks, rates have started to rise. This past week, the average 30-year fixed rate was 3.14%. What does this mean if you’re thinking about making a move? Waiting until next year will cost you more in the long run. Here’s a look at what several experts project for mortgage rates going into 2022. Freddie Mac: “The average 30-year fixed-rate mortgage (FRM) is expected to be 3.0 percent in 2021 and 3.5 percent in ...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Sellers Have Incredible Leverage in Today’s Market With mortgage rates climbing above 3% for the first time in months, serious buyers are more motivated than ever to find a home before the end of the year. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), puts it best, saying: "Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year." But the sense of urgency they feel is complicated by the lack of homes for sale in today’s market. According to the latest Existing Home Sales Report from NAR: “From one year ago, the inventory of unsold homes decreased 13%. . . .” What Does This Mean for Sellers Today? With buyers eager to purchase but so few homes available, sellers who list their houses this f...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Renters Missed Out on $51,500 This Past Year Rents have increased significantly this year. The latest National Rent Report from Apartmentlist.com shows rents are rising at a rate much higher than the three years leading up to the pandemic: “Since January of this year, the national median rent has increased by a staggering 16.4 percent. To put that in context, rent growth from January to September averaged just 3.4 percent in the pre-pandemic years from 2017-2019.” Looking back, we can see rents rising isn’t new. The median rental price has increased consistently over the past 33 years (see graph below):If you’re thinking of renting for another year, consider that rents will likely be even higher next year. But that alone doesn’t paint the picture of the true cost of renting. The Money R...
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