Spring Market in Wayland - More Sales; Lower Prices

Welcome to the Real Estate Market Conditions report for Wayland MA for May 2011.

List prices for single family homes in Wayland range from $219,000 to $24,500,000. The median price is $732,000; the average is $732,000 - both higher than last year at this time but lower than last month. Although the number of homes for sale has increased to 98 from 79 last month, there are still fewer single-family homes than last year at this time when there were 105. Lower inventory is generally good for sellers since there is less competition. However, proper pricing is still crucial since buyers are still looking for a good deal.

Of the 98 single family homes for sale, 18 already have accepted offers and are being shown until contingencies clear. The average time on the market is 139 days; last year the average was 175 days. Some of the recently accepted offers happened within a just a few days and properties that are perceived as good values have had multiple offers. The message to buyers is: be prepared if you are serious. Additionally, there are 16 properties with sales pending.

The number of closed sales was up in April – there were 11 compared to 6 in March and 8 during April 2011. However, the median sale price of $424,500 and average sale price of $504,545 was less than in March when the median was $482,000 and the average was $509,500; and substantially less than April 2010 when the median price was $625,000 and the average was $617,201. As a result many sellers are adjusting their list prices according and during the past month there have been prices adjustments in Wayland. The average adjustment was -3.76%.

As in most towns in the area, the luxury homes market still has the best opportunities for buyers. There 29 luxury homes available with only 2 offers accepted, so the choice is yours! Click here to check out the latest Luxury Housing report published by RE/MAX New England on May 3.

Visit http://www.marilynmessenger.com/ to search complete MLS listings with addresses and maps; news and information and market reports for Sudbury, Stow, Maynard, and Weston MA. Facebook users, you can search without leaving FB at www.facebook.com/livingwestofboston and let us know what you think about Wayland.

Data source: MLSPIN (Multiple Listing Service Property Information Network.

Wayland Open House Sunday 4/17 - 12:30 to 2:30

163 Cochituate Road, Wayland - $469,000

Imagine how much you'll love living in this updated Cape in Wayland with everything for your comfort & convenience! 1806 square feet on 3 levels. All 3 bedrooms upstairs, 2 full baths, maple/stainless kitchen, fireplaces in the living room & family room, finished lower level. Central air-conditioning, replacement windows, lots of closets, neutral color palette.New money saving/easy care Prodigy siding & new GEOTECK composite deck. Lots of room to play in the flat yard abutting trees. Great commuter location to Waltham, Cambridge, Boston; handy to Mass Pike. 1-yr. home warranty. Come see!

Call 508-596-3501 or email: marilynmessenger@realtor.com
Visit: http://www.marilynmessenger.com/ for the latest market information and real estate news in Wayland, Sudbury, Maynard, Stow and Weston; and complete MLS home searches

Listing broker: Marilyn Messenger, RE/MAX Landmark Realtors, Wayland

       

RE/MAX Agents Outperform the Competition

With so many real estate agents out there, how is a buyer or seller to know who will do the best job for them? Listen to what Margaret Kelly, CEO of RE/MAX says and contact me if you need help in Sudbury, Wayland, Maynard, Stow or west of Boston.

Buyer Agency - Written Agreements Benefit Buyers

Most consumers know that if they want to have a real estate broker/agent sell their home and represent their interests, they must sign a contract. The listing contract clearly spells out the terms of the agreement including length of time, compensation and each party’s responsibility.


While buyer agency is not a new concept – it has been legal in MA for more than a decade and a half and a few years ago the law that governs agency relationships was updated to further ensure consumer protection, many buyers and some agents still don’t understand the benefits of a written Buyer Agency Agreement/contract.

Buyers often call me to ask for help finding a home and many tell me they have had disappointing experiences with "their buyer agent." When I ask if they had a contract with the agent, the answer is almost always the same: "we didn't have anything in writing..."  Well, of course they are disappointed; how did the agent know what the buyer expect from each other? And were the buyer's expectations realistic?

The benefit of a contract is that both the buyer and the agent know what to expect and that each is accountable for what they say and do. The buyer knows which geographic areas the agent covers, they know how the agent is going to be compensated, and that the agent is legally obligated to act in the buyer’s best interest.

Buying a home is a process not an event - there is a lot more involved than finding a picture on the internet or going to open houses to "look." Successful negotiations are based on trust, confidentiality, and mutual respect. Buyers, you are entitled to have a qualified broker/agent on your side to ensure you get the representation you deserve and a written agreement is the first step.

While any agent can call themselves a buyer's agent, an ABR, Accredited Buyer's Representative has additional training and is part of a network that continues to provide education and new tools for representing buyers.

Before you start looking for a house find a qualified buyer agent/broker who will listen to you and respect your needs; one who knows the market in the area, knows how to negotiate, has a network of resources - lenders, home inspectors, attorneys, movers, etc.; and who will educate you so you can make the best decisions about your new home. Real estate is about relationships so make sure you have an agent who knows and cares about your well-being.

About the author: Marilyn Messenger is licensed broker, Certified Residential Specialist (CRS), and an Accredited Buyers Representative (ABR) associated with Andrew Mitchell and Company, Concord MA. She has been representing buyers and sellers in Wayland, Sudbury, Maynard, Stow, and the towns west of Boston since 1993. Visit http://www.marilynmessenger.com/ to search MLS and get the latest informaton about real estate and buying a home.

For Sale - Wayland MA - 2 beds, 2 baths $275,000

 

$275,000 Excellent opportunity in Wayland for contractor or handy end-user. Cape on pretty corner lot. 2 full baths, hardwood floors, fireplace. Updated furnace, hot water heater, and electric. Appliances included. Fenced yard with in-ground pool and cabana. Short sale needs lender approval. Cesspool - buyer responsible for Title V (passed in 2002, pumped annually). "As is" condition. Non-conforming lot.  

Open House Sunday, 5/16, 1 - 2:30

Listing Broker: Marilyn Messenger, RE/MAX Landmark Wayland MA
Call 508-596-3501 for additional information.
Search for homes at http://www.marilynmessenger.com/.

Sudbury Real Estate (MA) - Sales Up in November!

Here's what's going on in the Sudbury MA real estate market. Overall single family inventory is up from last year at this time - 98 current listings compared with 88 last year; however, the increase is primarily in two prices ranges: 1 million to $1,499,900 – 24 up from 17 last year; and 350K to $399,900 – there are 6, last year there was one. The number of homes for sale in other prices is the same or less than last year at this time.Prices for single family homes In Sudbury range from $189,000 to $3,298,000.

The median list price is a bit lower than last year at this time - $904,250 compared with $909,450; the average list price is also lower - $1,127,364,364 compared with $1,135,613; time on the market has increased; 244 compared with 205.

Recent activity shows there are 11 single-family homes with accepted offers and 9 with sales pending. There were 13 closed sales in November; exactly the same as in October, and more than twice as many as in November 2008 when there were only 6; however, both the median and average sale price was lower – the median was $547,500, down 6.3% for November 2008; the average was $582,365 down 5.7 from the previous November.

Interest rates are low and with the extended homebuyer tax credit now including many existing home owners who would like to move up or are ready to down-size, the phones are already ringing! Visit http://www.marilynmessenger.com/ for the latest local market condition reports for Sudbury, Wayland, Weston, Maynard and Stow MA, complete MLS home search, news and information to help you plan your next move. To get market information for any other town e-mail marilynmessenger@realtor.com.

Data Source: MLSPIN (Multiple Listing Service Property Information Network)

2009 First Time Buyers Outlook from RE/MAX New England

Click here to read the latest report from RE/MAX New England:

2009 New England First Time Buyers Outlook.

Whether or not you are a first time buyer, this report affects your property. First time buyers drive the market, they enable sellers to move on. As demand increases and supply falls, eventually prices will stabilize and rise again.

Get the lastest market condition reports for Sudbury, Maynard, Wayland, Weston, and Stow MA at www.marilynmessenger.com or contact me anytime for information about any town or property in Massachusetts.