Wellesley, MA Real Estate News

By Christine Norcross
(William Raveis, Wellesley MA)
Right now, the Wellesley real estate market is in excellent shape and moving fast. There are lots of homes on the market and buyers are able to look at several options and find the perfect fit for their family. If you are considering buying a home this year, now is the time to do it. Keeping Current Matters, which tracks real estate market trends, reports that now is the time to buy for five reasons: 1. Supply is Shrinking2. Price Increases Are on the Horizon3. Owning a Home Helps Create Family Wealth4. Interest Rates are Projected to Rise5. Buy Low, Sell High  Inventory for the Wellesley market is high right now, meaning there are lots of homes being listed. But, that won’t last forever, so while the market is in a good place, why not start the search for your dream home? Keeping Curre...
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By Christine Norcross
(William Raveis, Wellesley MA)
The cost of renting is increasing and one of the best ways to avoid this cost and make a better financial investment is to become a homeowner. Current trends in the Wellesley real estate market are positive for both buyers and sellers and things are moving fast.  Now is the ideal time to buy a home and by taking advantage of these market trends, you can quickly settle into your dream home and avoid the rising costs of rent. Rental Prices are Rising This chart shows the median rental price landlords have asked for from 1988 to 2013. The prices have increased steadily over time, but of particular interest is the cost over the past few years. Renting prices hit a peak around 2008 and 2009 and then they declined for the next few years. Then again in 2012 and 2013 they rose and median rental...
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By Christine Norcross
(William Raveis, Wellesley MA)
Many sellers try to list their home themselves, but research shows that this can be a big mistake and can actually come with a cost. Working with an agent is so important in this market, as many homes are getting multiple offers and homeowners are able to get higher than their asking price if they strategically price their home. As a seller in the Wellesley real estate market, you want to sell your home quickly, easily and for what it is worth, or even more. When you work with an agent, it is possible to achieve this. According to the National Association of Realtors, in 2013, sellers who worked with an agent sold their home for an average of $230,000 while those who sold their home themselves sold it for an average of $184,000. This is a difference of $46,000. These numbers alone show...
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By Christine Norcross
(William Raveis, Wellesley MA)
Before you start looking for that perfect home in the Wellesley real estate market, it’s a good idea to find out what kind of financing you qualify for. This will give you a good idea of what kind of home you can afford and will help you eliminate homes and find the perfect fit faster. Here are just a few things you should know before you apply for a mortgage. Your Credit Score A good credit score will come in handy as you apply for a mortgage, so know what yours is and do what you can to keep it healthy. Paying bills on time and avoiding closing bank accounts can help you maintain a good score. If your Lender is Trustworthy Talk to others, get recommendations and read reviews about different lenders before you choose one. You can also set up appointments with a few different businesses...
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By Christine Norcross
(William Raveis, Wellesley MA)
Right now, the local market is very hot. There is a limited number of homes for sale and when they are listed, they sell in days and for more than their asking price. This is excellent news for sellers. Look at these stunning statistics:       + In Q1 2013, 34 homes in the $300,000 - $1 million price range were sold. Only three of them got over the asking price ( + To date in 2014, there have been 38 listings in the same price range and 16 (or 42%) got over the asking price.  But, even homes that aren’t in this price range are selling for more than their asking price. These statistics are from Natick: + Between January and March of 2013, 54 homes were sold in Natick in all price ranges, 8 of them got over their asking price. + In 2014, to date, 42 homes were sold, 16 of them got over th...
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By Christine Norcross
(William Raveis, Wellesley MA)
When you have found the perfect home for you and your family, you may want to go directly to the listing agent. You’re ready to put an offer on the home right away and maybe you even intend to try to negotiate a better deal. However, this approach rarely works. The Wellesley real estate market is extremely busy, which is excellent news, but also means that it is more important than ever to work with an experienced real estate agent. Most sellers in this market receive a lot of offers on their properties, so they have a lot of buyers to choose from. In fact, in many cases, attempting to negotiate commission or waiting to attend an open house can actually cause you to lose the house you want.  Sellers and agents both look for offers that are professionally written and buyers who are worki...
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By Christine Norcross
(William Raveis, Wellesley MA)
The Wellesley real estate market is in excellent condition and now is a great time to buy or sell a house. In fact, a recent report shows that home sales in the Northeast are the highest in the nation. The report, by the National Association of Realtors, shows that even though home sales in the Northeast have decreased by 3 percent over the past few months, the number of sales in November of 2013 is higher than it was last year, by 6.6 percent. The report also details home sales statistics across the United States. Sales in the Western states decreased significantly, by 10.1 percent. The rate in the Midwest has remained stable and the rate in the South has only increased by 1 percent. According to this report, and what we have seen, the local market is thriving. More and more homes are...
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By Christine Norcross
(William Raveis, Wellesley MA)
Did you know that investing in real estate actually brings higher returns than investing in the stock market? Of course, finding that perfect home for your family or the home you have always dreamed of is reason enough to invest in a property. But, when you do this you’ll also be making a financial decision that can bring benefits years later. This chart, based on information from MSN Money and Case Shiller, reveals that real estate investments bring a 65.8 percent return on investment. This is about 22 percent higher than the return on Dow investments, 38 percent higher than the return on S&P investments and a whole 62 percent higher than NASDAQ investments. There’s no question that these statistics are stunning. The Wellesley real estate market is strong and active, so now is the idea...
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By Christine Norcross
(William Raveis, Wellesley MA)
Market trends are always changing and when you consider listing your home for sale, it’s important to know what the market conditions are. Right now, the Wellesley real estate market is ideal for sellers. Some current trends, that are favorable for sellers, include:   Fewer Active Listings High Median List Price High Median Sale Price Fewer Average Days on Market Visit the Christine Norcross & Partners website for more about current market trends.   There’s no question that now is the ideal time to list your Wellesley home for sale. With current market trends, sellers have less competition and are able to sell their homes quickly and for high prices.To take advantage of these excellent market conditions, and list your home for sale, contact Christine Norcross at 781-929-4994.  Follow u...
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By Christine Norcross
(William Raveis, Wellesley MA)
We’ve had our fair share of extreme winter weather this year! All the snow, wind and freezing temperatures can take a toll on your home, causing damage and even creating bigger problems. Many homes in the Wellesley real estate market have been hit hard over the last few months. But, with some simple maintenance tips you can get your home in good repair again so it will look its best this spring. Rake Your Roof  Snow accumulations on your roof are very heavy and can cause it to break, rain gutters to tear and lead to water damage. The best way to avoid these kinds of problems is to rake your roof. Roof snow rakes have a long handle and a hoe-like scraper on one end. Use one to reach a few feet past your gutter and then carefully pull the rake toward you, pulling the snow with it. Be care...
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By Christine Norcross
(William Raveis, Wellesley MA)
All this winter weather has us wanting to curl up with a good book! In fact, now is the perfect time to take advantage of being stuck at home. Don’t let this cold weather and all the snow get you down. If work has been busy or if you are overdue for a vacation, now is your chance. Or, maybe you have a few things on your to-do list or some projects you want to get done before you list your home for sale on the Wellesley real estate market. Here are some perfect ways to take advantage of being snowed in. Take a “Staycation”  When you can’t get out of the house or travel safely, have a “staycation.” Watch a movie, play some games, read a good book or work on a hobby. Put up your feet and take a day or two off. Unplug from Work You might not be able to unplug from work for days, but you mig...
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By Christine Norcross
(William Raveis, Wellesley MA)
Don’t let all this snow get you down. Instead, take advantage of it and get out of town for a quick ski trip. One of the biggest benefits people in the Wellesley real estate market get is the area’s prime location. Wellesley is in a beautiful area, and when you live here, you will be surrounded by amazing family destinations and getaways locations that are perfect for a weekend trip or a days-long adventure. There are so many picturesque ski resorts in the area, but here are a few you can’t miss. Nashoba Valley In the beautiful city of Westford, Nashoba Valley is the perfect destination for both skilled and beginner skiers. When you visit this resort, you’ll benefit from a rental shop, ski shop, tubing park, restaurant and even individual and group lessons. In fact Nashoba Valley is cel...
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By Christine Norcross
(William Raveis, Wellesley MA)
When you work with a real estate agent when you list your Wellesley home for sale you won’t have to worry about doing things like advertising your listing, hosting open houses and negotiating a sale. But, as a homeowner, it’s still helpful that you understand some things about the selling process so everything will go smoothly. Your Agent is Your Number-One Resource Your agent is your best resource. She can help you through the listing, showing and selling processes. A real estate agent can also help you understand market conditions, answer questions and even help you negotiate with buyers when you start getting offers. The Price can Attract or Deter Buyers If you want to attract buyers and sell your home quickly, you need to price your home competitively. Your real estate agent can he...
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By Christine Norcross
(William Raveis, Wellesley MA)
When you list your Wellesley home for sale, one of the best things you can do is work with an agent who can help you host open houses and find a buyer. While your agent will do most of the heavy lifting when you have open houses, there are still some things you can do to make them more effective so you can sell your home faster. Advertise Your Open House, Even Among Friends Your agent will take care of listing and advertising your home and promoting your open house, but you can help by spreading the word that you are selling. Telling your family, friends and coworkers that you are looking for a buyer can help you sell your home faster. You may not know that someone you know is looking for a home, and you never know who has a friend who is in the market. Make it Easy to Find Your Home W...
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By Martin Kalisker, Professional Standards & Legal Assistant
(Greater Boston Association of REALTORS)
The Wellesley, Massachusetts Department of Public Works (DPW) and the Wellesley Fire-Rescue Department are asking local residents to assist in clearing fire hydrants of snow in their neighborhood. According to the DPW, there are over 1,400 hydrants in Wellesley and each one is potentially vital in the event of an emergency.  Local residents are being asked to "adopt" a fire hydrant this year.   By visiting the DPW website, adopting a hydrant is as simple as 4 easy steps:   1. Click the link below to visit the Adopt a Hydrant map. This is a new system, so residents who participated in this program last winter, are being asked to re-visit the map and update their adopted hydrants 2. Expand the Find tab  and enter your address in the space provided to zoom to your neighborhood 3. Click on ...
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By Christine Norcross
(William Raveis, Wellesley MA)
Before you list your home for sale in the Wellesley real estate market, taking some time to make sure it is in top condition can really pay off. Homes that are in good condition and that have updated features and appliances attract more buyers and can even sell faster. While you prepare to sell your home, use this checklist to make sure it is ready to put on the market. Change Furnace Filters and Check for Damage  It is recommended that you change your furnace filter every few months, or more often if you have pets. A new filter will ensure your furnace is working efficiently and can even help you save money on your utility bill. When you change your filter, do a visual inspection for any damage to your furnace and contact a professional if you find any problems.  Check Window and Door...
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By Martin Kalisker, Professional Standards & Legal Assistant
(Greater Boston Association of REALTORS)
Free Flu Clinic February 5   The  Wellesley Massachusetts Health Department is advising all students, parents and town residents that it is not too late to get your flu shot this season.  To that end, the Wellesley Health Department is offering a  free Flu Vaccine Clinic, for students, parents and staff of the Wellesley Public Schools, as well as the general community.   The clinic will be held at Wellesley Health Department:   WHEN:  Wednesday, February 5, 2014 WHERE: Wellesley Health Department                                         Annie F. Warren Recreation and Health Building                                  90 Washington Street (Route 16), 2nd Floor TIME: 11:30 AM – 2:30 PM   Anyone under 18 years of age must be accompanied by a parent/guardian. This service is provided free of c...
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By Christine Norcross
(William Raveis, Wellesley MA)
You have accepted an offer and sold your home! Now what? At this point, it may seem like all of your hard work and focus has been on selling your home, so you may be wondering what to do next. Keep Copies of the Paperwork Keep copies of all the closing paperwork when you sell your home. This is good to keep on hand in case you need to refer to it, but you will also need the information from the sale when you file your taxes. Prepare Your New Home If you have already found and closed on your new home, you can finish making the updates you want to complete before you move in. Laying new carpet, painting walls and remodeling is often easier before you have moved in. However, if you haven’t closed on a home yet, use the time you were using to sell your house to find that dream home for your...
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By Christine Norcross
(William Raveis, Wellesley MA)
The key to finding the perfect Wellesley home for sale, putting an offer on it and quickly closing the sale so you can move into your dream home is working with a real estate agent. Working with a local agent brings all kinds of benefits, including the fact that you’ll be able to hand off the heavy lifting and stressful parts of buying a home to someone who is experienced in negotiating and closing sales. Find Your Dream Home Faster Make your house hunting easy by telling your agent what you want in a home and then letting her set up tours and find open houses for you. Searching for your dream home is fun, and working with a real estate agent makes it possible for you to enjoy the process even more. Don’t Pay More than You Should Working with a real estate agent can also help you find a...
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By Christine Norcross
(William Raveis, Wellesley MA)
It’s not too late to take on some new year’s resolutions that will help you sell your home faster. If 2014 is set to bring new adventures by way of relocating or moving into your dream home, taking a few steps now can help you make the process go faster and smoother. The selling process is different for everyone, and if you are interested in selling your home in the Wellesley real estate market, contact a real estate agent. However, these general tips can help you prepare to sell your home. Prepare Your Home and Make it More Attractive Make any needed repairs so that your home is in the best condition possible. These kinds of repairs will attract buyers who are looking for a home that is move-in ready. You may also consider making some general updates, like installing new flooring, add...
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