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Friday, February 27, 2015

Concord MA Real Estate: Pending Homes Sales Through the Roof!

Pending home sales were up 142% in January 2015 over January 2014; Sudbury was up 100%...

Closed sales and median sale prices were also higher...

Meanwhile, the number of properties for sale remains low make this a good to sell a house and a challenging time to buy.

Check out the slideshow for market reports for single-family homes in Wayland, Sudbury, Concord, Maynard, and Stow and view the full reports at www.marilynmessenger.com.



Wednesday, February 25, 2015

Sudbury Real Estate - Pendings Sales Up 100% in January

The median single-family home sale price in Sudbury has exceeded the 2007 median*

While the national media is reporting that sales and prices dropped in January in many places, the Sudbury market for single-family homes got off to a strong start in 2015. Pending sales increased 100% over January 2014. And, both the number of homes sold and the median sale price was us substantially over the previous January. Closed sales were up 87.5% and the median sale price of $681,000 was up 21.9% over January 2014.

Meanwhile, the number of single-family houses for sale in Sudbury remains low at just 41; exactly the same number as last year at this time. The sweet spot for homes buyers is the $1,000,000 to $1,499,999 price range. If you are a buyer looking for a luxury property, there are 14 properties for sale in that range and you may be surprised at how much you can get for your money compared with Concord, Weston or Wayland. The average time on the market for these luxury homes is 241 days and some of these home sellers are likely to be ready to consider offers. See all of the homes for sale in Sudbury.

There are also 14 condominiums for sale in Sudbury including a resale townhouse at Springhouse Pond.

Click here to see the full market report for condominiums and single-family houses Sudbury.








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Marilyn Messenger CRS ABR GRI - Broker with Andrew Mitchell & CompanyAbout the author: Marilyn Messenger, a Certified Residential Specialist and Accredited Buyer Representative associated with Andrew Mitchell and Company, has been representing home buyers and sellers in Wayland and the towns west of Boston including Sudbury, Concord, Maynard, Stow MA since 1993. Her clients appreciate her area knowledge, attention to detail, negotiation and communication skills. MORE... Contact Marilyn at marilynmessenger@realtor.com or 508-596-3501.



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Thursday, February 12, 2015

Condominiums – Easy Living, Parking, Pets, and Pools


Had Enough?
It's been a tough winter and a lot of homeowners, especially empty-nesters have had enough and are ready to consider condominium living. Empty-nesters have a variety of choices since most of the communities that have been built and that are currently under construction are "active adult" communities that cater to the over 55 home-owner. You not only get an easier lifestyle but also the opportunity for the features you don't have in your current home.

Condominiums are also attractive to first time home buyers. They tend to offer more appropriate living space than a single-family home, developments tend to be newer, and some offer amenities such as swimming pools, tennis courts, fitness centers.

If you're just too busy or not interested in working around the house, owning a condominium at any stage of life may be a good option for you. For the most part, exterior maintenance is taken care of by the homeowner association so you don't have to be concerned about exterior painting, landscaping, snow plowing, roof replacement, etc. - the benefits of home ownership without a lot of the work!

A condominium is a form of home-ownership that can include a variety of home-styles including attached townhouses, detached single-family homes, apartment-style, duplex, or one floor in a multifamily house. Whatever the style of condominium, there will be a Homeowner Association that will govern the according to the master deed and rules and regulations of the entity.

Most homeowner associations (HOAs) rules are pretty standard, and your attorney can tell you which ones you can expect to find in most places, however, communities can and do amend the rules over the years so rules can vary. Parking, pets, and swimming pools seem to be the biggest issues but there may also be rules holiday decorations, gardening, decks, facility usage; bicycle and baby carriage storage, rental restrictions - some communities do not allow any rentals.

Unit-owners are most often responsible for windows and doors and you may be required to take care of some outdoor areas including landscaping, deck maintenance and snow clearing of exclusive use areas – those are areas that are part of the common property but are considered to be part of a unit. Inside the unit, homeowners are responsible for plumbing, electrical, etc. unless these items service more than one condominium unit. While there is certainly less maintenance than living in a single-family home, it is not like living in an apartment where you call the landlord if something goes wrong.

If you are financing your purchase with a mortgage, your lender will review the budget and send a questionnaire asking about the financial condition of the development - i.e. number of owner occupied units, if there are any pending lawsuits, special assessments. 

As the buyer, it is really important for you to read the rules and understand what your responsibilities will be – the ads for “maintenance free” may not be 100% accurate. Only you can know if you'll be comfortable living by the rules that govern the condo development you'll be sharing; and the best time to do that is before you make an offer. 

Living in a condominium is a great lifestyle if you're someone who wants easy living; doesn't mind
having close neighbors; is OK with letting other people make decisions for you or is willing to volunteer to be on the Homeowners Association Board of Trustees, and won't mind trading some personal freedoms in return for convenience.

Once you accept the condominium rules and understand your responsibilities you can move forward and enjoy the lifestyle that's right for you! Check out condominiums for sale.
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Marilyn Messenger has been representing condominium (including new construction) sellers and buyers in Sudbury and the nearby towns west of Boston for 21 years. She served on the Board of Trustees at Deer HedgeRun in Maynard for 2 years and understands how Homeowner Associations function.  MORE...

Monday, February 02, 2015

Wayland Real Estate - Pendings Sales Up in December

Here is an overview of the Wayland housing market including single-family homes and condominiums. The good news for buyers who would like to live in Wayland is that there are more houses for sale than there were last year at this time. More inventory combined with continued low mortgage interest rates make this a good time to be in the market.

Current 1/28/15): There are 30 single-family houses for sale in Wayland; last January there were 17. List prices range from $290,000 to $9,300,000. The median list price in Wayland is $1,309,000; last year on 1/28 it was $1,199,000. See homes for sale in Wayland.


December Pending Sales:  Good news for home sellers is that pending sales were up 100% from December 2013. 10 homes for sale went pending in Wayland during December 2014 compared with 5 during December 2013. Sale prices for these houses will be available in a month or two when they close.


December Closed Sales: Closed sales of single-family homes were down by 28.6% in Wayland over December 2013. There were 10 closed sales in Wayland during December 2014; and the median sale price of $564,000 was 10.3% less than the median sale price of $628,500 in December 2013.
2014 Closed Sales: There were 132 closed sales of single-family houses in Wayland during 2014; 26.7% less than in 2013. The median sale price for the year was $684,000; up 11.8% from the 2013 median sale price. 206 single-family houses were listed in 2014 compared with 236 in 2013.
 
Price Adjustments: In any market houses that are not priced correctly will not sell. There were 140 price changes/reductions on 80 single-family properties during 2014. Price is the most important part of marketing; it is how your house gets exposed to the right buyers.
Expired Listings: There were 35 single-family houses that did not sell during their listing contract period; these are called “expired listings.” Some of them were re-listed and sold, others were re-listed and still active, and others dropped out of the current market. There are various reasons that properties do not sell: incorrect pricing, inadequate or un-targeted marketing, mismanaged negotiations and communication. Bottom line is that these houses did not meet buyer expectations.

Condominiums/Townhouses: There are 15 condominium units for sale in Wayland; the same number as last year at this time. Prices range from $352,000 for a 2 bedroom, 2 bath, apartment-style in a mid-rise building to $1,225,000 for a 4,300 square foot luxury townhouse with 3 bedrooms and 4.5 baths on Hayfield Lane. The median list price for a townhouse in Wayland is $725,000. New construction townhouses at River Trail Place located at the Wayland Town Center start at $739,000. Click here for the full report for condominiums in Wayland.

New Construction: Buyers are entitled (and you deserve) to have your own buyer agent represent you when you purchase new construction. However, your agent/broker MUST accompany you to the sales office the first time you visit. As tempting as it is to just pop in and look around, if you do that, you will have to buy from the agent at the office and as nice as that agent may be, remember they work for the builder and not you! Having your own agent on your side will help you get the best deal
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Marilyn Messenger CRS ABR GRI - Broker with Andrew Mitchell & CompanyAbout the author: Marilyn Messenger, a Certified Residential Specialist and Accredited Buyer Representative associated with Andrew Mitchell and Company, has been representing home buyers and sellers in Wayland and the towns west of Boston including Sudbury, Concord, Maynard, Stow MA since 1993. Her clients appreciate her area knowledge, attention to detail, negotiation and communication skills. MORE...

Friday, January 09, 2015

Home Buying: Tips for Negotiating Success!


Congratulations, you finally found the house you've been searching for! The next step is to have your buyer agent submit an offer on your behalf and unless it meets the price and terms that the seller is looking for, you will most likely have to negotiate. In the current where there are so few homes for sale, even if you offer full price, etc., you may still end up having to negotiate.

Here are a few tips to help you negotiate a successful outcome and get the house you want:
  1. Stay focused on the end result; don't get hung-up on the process.
  2. Getting the house is what is important, not "how" the seller negotiates. Don't take a seller's response personally; it's not about you.
  3. Offer what you can to keep the negotiations moving so you can to agreement; often it's the small gestures that matter.
  4. Be patient and stay positive. 
  5. Sometimes it take time. 
Negotiating is not something that most people do on a regular basis and buying a house is one of the most important and highest price items you will ever buy. Having a experienced buyer agent/broker, who knows the local market and has good relationships with other local agents, on your side to represent you through the negotiation process will help make the process a lot less stressful and increase your odds of success. Remember, success means getting the house for the best price and terms you can in the real estate market you are in.

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"There were multiple offers on the house we ended up buying [and on our house when we sold it]… Marilyn was invaluable in helping us to navigate through those negotiations." – Julie in Sudbury

There were multiple offers on the house we ended up buying and on our house when we sold it, and Marilyn was invaluable in helping us to navigate through those negotiations. - See more at: http://www.marilynmessenger.com/#sthash.bVASmH06.dpuf
There were multiple offers on the house we ended up buying and on our house when we sold it, and Marilyn was invaluable in helping us to navigate through those negotiations. - See more at: http://www.marilynmessenger.com/#sthash.bVASmH06.dpuf

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