Archive for the 'Real estate Information for First Time Home Buyers' Category
Here is the latest Pinnacle Report for Weston, MA Real Estate…. In the last two weeks in Weston, eight single family homes came on the market and 11 sold*. The activity continues to happen at a variety of price points – a healthy market indicator. Our inventory (75) is still down significantly from this time last year (101). And the imbalance in our listings persists. (more…)
For those of you who love following the market stats*… click here -Weston MA Homes Sold May 1-15 2013- to see information on the single-family homes that sold/closed in the first half of May 2013 in Weston, MA.
When we look at the metrics from these last two weeks vs. the first two weeks of May 2012, we see that the number of sold properties and total market volume figures are up, and the median and average sale prices are down. (more…)
Here is the latest Pinnacle Report for Weston, MA Real Estate…. In the last two weeks in Weston, 10 single family homes came on the market and 10 sold*. Our number of active properties (75) remains low and is down 28% from this time last year (104). We continue to see the imbalance in our inventory. (more…)
As many of you know and have likely experienced, the multiple bid situation is happening more and more these days. Especially with homes priced under $1 million in such towns as Weston, Wellesley, Wayland and Needham, multiple bids have become more of the norm than not. Given this current state of affairs, I wanted to share a few quick tips to help with the process when you are buying a home and either anticipate being in a multiple bid situation or find yourself in one: (more…)
Wellesley MA 4 Bedroom Home – $895,000 – Terrific!
Move right into this charming Wellesley MA contemporary cape. This flexible floor plan includes two fireplaces, polished hardwoods and tons of storage. This beautiful home is located in a private, professionally landscaped setting and just minutes to parks, commuter rail, shops, restaurants and conservation land. A must see!
If you are thinking of buying or selling a home in Wellesley, Weston, Needham or Natick, MA, please contact Maureen McCaffrey at email@example.com or 508-494-0811 or maureenmccaffrey.com. And click here for a complimentary search of the MLS real estate listings where you will have access to all homes currently on the market in Weston, Wellesley, Needham, Natick and surrounding communities
Wellesley homes for sale under $1M
The search for Wellesley homes for sale under $1M is very difficult these days. There are only 11 properties that fit this criteria as I write. Rates are so low and you have great buying power – if only you can find the house. The Wellesley real estate market is “hot” and this is the price range with the greatest number of buyers and the fewest number of homes for sale. For Wellesley homes priced under $1M, there have been multiple offers on properties, mob-scenes at public open houses, and many disappointed buyers who can’t seem to buy the Wellesley home they want.
What’s contributing to the shortage of Wellesley homes for sale under 1M?
First of all, the ’trade-up’ markets are not as vigorous. The would-be buyers of trade-up homes are the sellers of the under $1M homes. The existing owners of trade-up houses got hit a bit harder in value decline over the past several years and (unlike the under $1M homes) prices for their homes have not recovered as much. This leaves many sellers of trade-up homes with little equity for a second-level trade up and low supply if their intent is to trade down. The alternative for these families is to either stay put or to put their houses on the market hoping for buyers willing to pay a premium. Second, there are many more buyers in the market looking for Wellesley homes for sale under $1M. With rates so low and rents so high, it’s often more expensive to rent than to buy these days. Therefore, many buyers have jumped back into the market. New household formation is increasing and boomerang buyers are back. That’s a lot of competition for few properties.
How to buy a Wellesley home for under $1M in this market? As I say to all buyers – the best homes go to those who are knowledgeable, bold and decisive. The bottom of the Wellesley real estate market was in Q4, 2011. If you’re still waiting for a ‘deal’ in a town like Wellesley, you’ll end up with the ‘deal’ that no one else wanted. Make sure that you’re not OVERpaying, but expect to pay fair market value. When you’re in a competitive bid situation, you’ll need the best structured offer and there are a number of important ways to differentiate your offer from the others. You’ll need a smart, experienced agent to guide you.
Buying a Wellesley home for sale under $1M? It’s not always about who is offering the most money. Call Pinnacle for more information. 781.237.5000