Special offer

Needham, MA Real Estate News

By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
  #1 Reason to Sell Your House Now! Real Estate with  Pat Baker Get in Touch   #1 Reason to Sell Your House Now! July 6, 2015 For Sellers Facebook Twitter LinkedIn Google+ Print If you are one of the many homeowners out there who are debating putting their house on the market this year, don’t miss out on the great opportunity you have right now! The latest Existing Home Sales Report from The National Association of Realtors (NAR), reveals that the inventory of homes for sale has dropped to a 5.1-month supply.     Historically, a 6-month supply is necessary for a ‘normal’ market, explained below: There are more buyers that are ready, willing and able to buy now, than there has been in years! The supply of homes for sale is not keeping up with the demand of these buyers. Bottom Line Home ...
Comments 3
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
  Mixed Good News from Norfolk County Registry of Deeds‏   Prices are up but inventory still lagged in May 2015.    Both residential and commercial have an uptick in sale price.    There has been a 5% increase year over year.       Total volume of commercial and residential sales also showed an uptick, jumping 2% to $604.6 million."  Norfolk County Registry of Deeds   Register O'Donnell Reports May Brings Mixed Real Estate ResultsContinuing a theme seen over the past few months, Register of Deeds William P. O'Donnell reported that reduced inventory activity in Norfolk County has had a mixed effect on the real estate market during the month of May, 2015.Register O'Donnell noted, "What we have consistently seen throughout the late winter and spring months is a decrease of real estate inve...
Comments 0
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
  The #1 Reason to Buy Right Now – THE MONEY!!Real Estate with  Pat Baker Get in Touch   The #1 Reason to Buy Right Now – THE MONEY!! June 4, 2015 First Time Home Buyers, For Buyers Facebook Twitter LinkedIn Google+ Print People often ask whether they should buy a home now or wait. Recently released data suggests that waiting may not make sense as prices seem to again be on the rise. Let’s take a look at some of the data and commentary on the subject:   Ed Stansfield, chief property economist at Capital Economics: “The current tightness of supply conditions would normally be consistent with much faster price growth. The continued steady growth in home sales that we expect this year will only add to this upward pressure on prices.” Case Shiller Home Price Index “The S&P/Case-Shiller U.S....
Comments 0
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
    5 Reasons You Shouldn’t For Sale By Owner Real Estate with  Pat Baker Get in Touch   5 Reasons You Shouldn’t For Sale By Owner June 2, 2015 For Sellers, FSBO's Facebook Twitter LinkedIn Google+ Print In today's market, with homes selling quickly and prices rising some homeowners might consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers. Here are five reasons: 1. There Are Too Many People to Negotiate With Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner: The buyer who wants the best deal possible The buyer’s agent who solely represents the best interest of the buyer The buyer’s at...
Comments 0
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
  Real Estate with  Pat Baker Get in Touch   Buyer Demand Exceeds Housing Supply [INFOGRAPHIC] May 29, 2015 For Buyers, For Sellers, Infographics Facebook Twitter LinkedIn Google+ Print Some Highlights: Inventory Levels are still below the 6.0 month level necessary for a normal market Home Prices have experienced year-over-year gains for 38 straight months Home sold faster than any time since June 2013, in just 39 days Post navigation If You are Thinking of Selling, Now’s the Time Pat Baker Key Advantage Realty Needham, MA (617) 435-3471 Experienced real estate agent intimately acquainted with the Needham, MA and the MetroWest area of Boston, MA. Specializing in home sales, buyer purchases, condominiums, 2nd home purchases,investment properties, and rentals Visit Website Get in Touch   ...
Comments 2
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
  Real Estate with  Pat Baker Get in Touch   Homeownership as an Investment: The Role of Price Appreciation May 27, 2015 Housing Market Updates, Pricing Facebook Twitter LinkedIn Google+ Print We recently posted on the results from the latest Home Price Expectation Survey (HPES) showing where residential home prices are headed over the next five years. Today, we want to show you what the results of the report could mean to you.   A good portion of every family’s wealth comes from the equity in the home they live in. As the value of their home (an asset) increases so does their equity. Let’s look at a possible case scenario based on the latest HPES. Here is a chart showing the survey’s projections on annual appreciation over the next five years: We then looked at the five-year impact thi...
Comments 0
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
  Real Estate with  Pat Baker Get in Touch   More Home Buyers Putting Less Down May 20, 2015 Down Payments, For Buyers Facebook Twitter LinkedIn Google+ Print A recent post by the National Association of Realtors (NAR) revealed that in the months of December 2014 through February 2015, there was an increase in the number of first-time buyers making a down payment of 6% or less as compared to last year: 2014: 61% of first time home buyers 2015: 66% of first time home buyers While the number of small down payments is lower than it was in 2009 when 77% of down payments were 6% or less, it does show the recent decisions by both Fannie Mae and Freddie Mac to offer 3% down payment options to certain buyers is impacting the market. FHFA Director Mel Watt recently explained why Freddie and Fann...
Comments 0
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
    The Truth About Rising Prices & Family Wealth Real Estate with  Pat Baker Get in Touch   The Truth About Rising Prices & Family Wealth May 12, 2015 First Time Home Buyers, For Buyers Facebook Twitter LinkedIn Google+ Print The National Association of Realtors (NAR) recently released a report revealing that the growing wealth gap in this country has been impacted by the recent increases in real estate values coupled with the drop in homeownership rates. The report discloses: “Over 90 percent of metro areas have experienced declining homeownership rates at a time when home values have risen and incomes have remained flat.”   Increasing home values in many regions of the country have helped homeowners build housing wealth in recent years. However, the continued decline in homeownership...
Comments 2
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
    Simplifying the Market™ Making Real Estate Easy to Understand Easy Chicken Little: Homeownership Rates Are NOT Crashing May 6 2015 The Census recently released their 2015 Q1 Homeownership Statistics, and many began to worry that Americans have taken a step back from the notion of homeownership. The national homeownership rate (Americans who owned vs. rented their primary residence) increased significantly during the housing boom, reaching its peak of 69.2% in 2004. The Census Bureau just reported the first quarter of 2015 ended with a homeownership rate of 63.7%. Many reported on this and began to question Americans’ belief in the ideal of homeownership as a major part of the American Dream. Everyone Calm Down… It is true the homeownership rate has fallen over the last several years...
Comments 0
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
    Simplifying the Market™ Making Real Estate Easy to Understand Homeowners: We Need to Sell Your House Twice May 5 2015 Every house on the market has to be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). In a housing market where supply is very low and demand is very high, home values increase rapidly. One major challenge in such a market is that bank appraisal. If prices are jumping, it is difficult for appraisers to find adequate comparable sales (similar houses in the neighborhood that closed recently) to defend the price when doing the appraisal for the bank. With escalating prices, the second sale might be even more difficult than the first. And now, there may be a second issue further complicating the appraisal issue. The Mortgage New...
Comments 0
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
    Simplifying the Market™ Making Real Estate Easy to Understand 5 Tech Questions that Seniors Should Ask When Interviewing a Real Estate Agent April 30 2015 We are pleased to have Nikki Buckelew back as our guest blogger for today’s post. Nikki has extensive experience working with seniors and is the Founder & CEO of the Senior Real Estate Institute. Enjoy!  If you have not bought or sold a home in a few years (or maybe decades) it is likely that there are more than a few new trends in real estate that you will encounter as you begin to interview real estate agents. One particular trend now common among many real estate brokerage firms is called the practice of "going paperless.” This can be a bit scary for some people, especially senior adults who are not accustomed to using computer...
Comments 2
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
    Simplifying the Market™ Making Real Estate Easy to Understand There’s No Place Like Home April 27 2015 Last week, we reported on the financial reasons purchasing a home in today’s market makes sense. The Joint Center for Housing Studies at Harvard University performs a study every year surveying participants for the reasons that American’s feel are most important in regards to homeownership. The top 4 reasons to own a home cited by respondents were not financial. 1. It means having a good place to raise children & provide them with a good education From the best neighborhoods to the best school districts, even those without children at the time of purchasing their home, may have this in the back of their mind as a major reason for choosing the location of the home that they purchase...
Comments 2
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
Simplifying the Market™ Making Real Estate Easy to Understand Housing Market: Freddie Mac Remains Optimistic April 20 2015 The April 2015 U.S. Economic & Housing Market Outlook from Freddie Mac revealed that they are optimistic about the real estate market in 2015. As a matter of fact, the sub-title of the report was "Great Expectations”. What made Freddie Mac so optimistic? Here are a few highlights from the report:  "For the remainder of the year we should see a resumption of solid economic growth and acceleration in housing activity. Notwithstanding a disappointing March jobs report the acceleration is already underway.” "With spring upon us, housing markets are poised to accelerate and we expect the best year for home sales since 2007. Despite harsh winter weather to start the year...
Comments 1
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
  Simplifying the Market™ Making Real Estate Easy to Understand Desire to Own a Vacation Home Growing April 14 2015 The National Association of Realtors just released their 2015 Investment and Vacation Home Buyers Survey which revealed that vacation home sales boomed in 2014 to above their most recent peak level in 2006. NAR Chief Economist Lawrence Yun said favorable conditions are driving second-home sales: “Affluent households have greatly benefited from strong growth in the stock market in recent years, and the steady rise in home prices has likely given them reassurance that real estate remains an attractive long-term investment. Furthermore, last year’s impressive increase also reflects long-term growth in the numbers of baby boomers moving closer to retirement and buying second h...
Comments 0
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
                Register O'Donnell Guardedly Optimistic About Real Estate Marketmy comments in RedCiting both strong growth in total dollar volume of real estate sales and continuing improvement in the mortgage market after reviewing 1st quarter 2015 real estate statistics, Register of Deeds William P. O'Donnell expressed "guarded optimism" that the Norfolk County real estate market will continue to show improvement.The Norfolk County Register noted, "During the 1st quarter of 2015, the total number of deeds recorded fell a minimal 1% compared to the same time period last year. However, the total dollar volume of residential and commercial real estate sales increased by a robust 24% during the quarter and the average sale price of property increased an impressive 22% in Norfolk County t...
Comments 0
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
    Simplifying the Market™ Making Real Estate Easy to Understand Pending Sales Surge: Great Sign for the Housing Market April 7 2015 The most recent Pending Homes Sales Index from the National Association of Realtors revealed that homes going into contract in February increased to their highest level since June 2013. The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. The Index is now 12.0 percent above February 2014. The index is at its highest level since June 2013, has increased year-over-year for six consecutive months and is above what is consider...
Comments 0
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
    Simplifying the Market™ Making Real Estate Easy to Understand The Difference A Year Can Make [INFOGRAPHIC] April 3 2015 Some Important Points To Consider: The latest Freddie Mac Primary Mortgage Market Survey reports the 30-year fixed rate at 3.7%. Freddie Mac's projection for Q2 2016 is that the rate will be 4.7% (a full percentage point higher) The Home Price Expectation Survey predicts that home prices will appreciate by 4.4% during this same time The impact waiting a year to purchase your dream home can make on your monthly payment is significant. Contact me today to discuss your options before the experts' predictions become reality! Pat Baker Key Advantage Realty Needham, MA Experienced real estate agent intimately acquainted with the Needham, MA and the MetroWest area of Bost...
Comments 0
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
    Simplifying the Market™ Making Real Estate Easy to Understand Industry Experts Agree: Housing Supply Too Low April 1 2015 Last week, we reported on the lack of housing supply and how that was impacting the real estate market. Today, we want to let you know what other industry experts are saying. Daren Blomquist, RealtyTrac Vice President: “It’s kind of a seesaw right now between supply and demand. One of the reasons for fewer sales is not so much a lack of demand but a lack of supply, especially in the price range the majority of buyers were looking for.” Diana Olick, CNBC’s Realty Check: “Total sales are still running below expectations for the year. Don't blame winter weather, though. Blame the lack of supply.” Bill McBride, Founder of Calculated Risk: “Inventory is still very low...
Comments 0
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
    Simplifying the Market™ Making Real Estate Easy to Understand Why Waiting To Buy Might Not Make Sense March 31 2015 Whether you are a first time or a move-up buyer, there are two factors that will impact the amount of house you can afford in your price range: home prices & mortgage rates. Let’s look at what the experts are predicting over the next twelve months for these two areas: PRICES Over 100 economists, real estate experts and investment & market strategists were recently polled as a part of the Home Price Expectation Survey. They were asked to project where home prices are headed. The average value appreciation projected over the next twelve-month period is approximately 4.4%. MORTGAGE INTEREST RATES In the latest Economic & Housing Market Outlook from Freddie Mac, they predi...
Comments 0
By Pat Laracy Baker, Pat Baker Dream Home Maker
(Realty Executives Boston West)
    Simplifying the Market™ Making Real Estate Easy to Understand Why You Should Sell Now! March 30 2015 As the temperature rises, buyers are coming out ready to purchase their dream home. Inventory is still below historic numbers and demand is strong. Don’t miss out on this great opportunity for you and your family. Here are five reasons to list your home now. 1. Demand is Strong Foot traffic refers to the number of people out actually physically looking at homes right now. The latest foot traffic numbers show that there are more prospective purchasers currently looking at homes than at any other time in the last 12 months which includes last spring’s buyers’ market. These buyers are ready, willing and able to purchase… and are in the market right now! Take advantage of the buyer activ...
Comments 0