The Gift of Home Tax-free!

December is not only when we give gifts to our loved-ones for the holidays but it's also the time to review tax-saving options for 2019 and plan for 2020 and what could be a better gift than tax-free help with a down-payment for a new home?

Parents, grandparents, aunts and uncles, and even friends can start to pass along/gifting their estates while reducing inheritance taxes and getting to see their family enjoy the benefits of their gift

Under current IRS guidelines (please consult your accountant for tax advice and ramifications) each

parent or relative can give up to $15,000 to each child or relative every year. That would mean that a mother and father can each give $15,000 a year to each son, daughter, and/or grandchild that would amount to $30,000 a year in total per couple for each person that you gift.

If both sets of parents want to help with the down-payment on a house; each of the parents can give each borrower a gift of $15,000 per year. That would add up to $60,000 for both of you! That is a significant amount of tax-free money to help you buy a home for your family! Of course, a gift can also be less than $15,000, so give what you can.

That amount is per calendar year and not based on every twelve months. That would mean that they could give $60,000 (or more) in December 2019 and an additional $60,000 (or more) in January

2020. With less than one-month left , this is the time to bring up the subject with your family. What could make them happier than helping you buy a house and saving money on taxes?

For most types of mortgage loans, you will need to have 5% of the amount of the down-payment on your own, however, there are exceptions. To find out the exceptions and details about how gift money can be applied to your down-payment contact a reputable mortgage broker.

More about tax-free gifts and life-time limits: https://smartasset.com/retirement/gift-tax-limits

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About the author: Marilyn Messenger, a licensed real estate broker, Certified Residential Specialist, and Accredited Buyer Representative, and Certified Luxury Homes Marketing Specialist is associated with Andrew Mitchell and Company in Concord has been representing home buyers and sellers in Wayland, Sudbury, Maynard, Stow, and Concord MA since 1993. www.MarilynMessenger.com for more. Visit www.marilynmessenger.com to see homes for sale, get the latest real estate market reports, and learn about having your own buyer agent on your side.

Down-Payment Gifts Save Taxes!

What could be a better gift than tax-free help with a down-payment on a home?

Parents, grandparents, aunts and uncles, and even friends can start to pass along/gifting their estates while reducing inheritance taxes and getting to see their family enjoy the benefits of their gift

Under current IRS guidelines (please consult your accountant for tax advice and ramifications) each parent or relative can give up to $15,000 to each child or relative every year. That would mean that a mother and father can each give $15,000 a year to each son, daughter, and/or grandchild that would amount to $30,000 a year in total per couple for each person that you gift. 

If both sets of parents want to help with the down-payment on a house; each of the parents can give each borrower a gift of $15,000 per year. That would add up to $60,000 for both of you! That is a significant amount of tax-free money to help you buy a home for your family! Of course, a gift can also be less than $15,000, so give what you can.

That amount is per calendar year and not based on every twelve months. That would mean that they could give $60,000 (or more) in December 2019 and an additional $60,000 (or more) in January

2020. With less than one-month left , this is the time to bring up the subject with your family. What could make them happier than helping you buy a house and saving money on taxes?

For most types of mortgage loans, you will need to have 5% of the amount of the down-payment on your own, however, there are exceptions. To find out the exceptions and details about how gift money can be applied to your down-payment contact a reputable mortgage broker. 

More about tax-free gifts and life-time limits: https://smartasset.com/retirement/gift-tax-limits  

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About the author: Marilyn Messenger, a licensed real estate broker, Certified Residential Specialist, and Accredited Buyer Representative, and Certified Luxury Homes Marketing Specialist is  associated with Andrew Mitchell and Company in Concord has been representing home buyers and sellers in Wayland, Sudbury, Maynard, Stow, and Concord MA since 1993. www.MarilynMessenger.com for more. Visit www.marilynmessenger.com to see homes for sale, get the latest real estate market reports, and learn about having your own buyer agent on your side. 

The Gift of Home Saves Taxes!

Holiday time is when people get together with family and friends, to exchange gifts and talk about plans for future which often include buying or selling a house. It’s also year-end and a good time to think about estate planning and taxes. Did you know that parents, grandparents, aunts and uncles, and even friends can start to pass along/gifting their estates while reducing inheritance taxes and getting to see their family enjoy the benefits of their gifts? What could be a better gift than tax-free help with a down-payment on a home?

NOTE: The following information was provided by a loan officer, however you should always talk

with a tax expert and financial adviser about your specific goals and financial situation.

Gifts are involved in approximately 25% of all of the mortgage loans that are transacted. Gifts from family members and relatives are allowed under IRS and lending guidelines but lenders do not report the parties involved to the IRS.

Under current IRS guidelines (please consult your accountant for tax advice and ramifications) each parent or relative can give up to $14,000 to each child or relative every year. That would mean that a mother and father can each give $14,000 a year to each son, daughter, and/or grandchild that would amount to $28,000 a year in total. If both sets of parents want to help with the down-payment on a house; each of the parents can give each borrower a gift of $14,000 per year. That would add up to $56,000 for both of you! That is a significant amount of tax-free money to help you buy a home for your family! Of course, a gift can also be less than $14,000, so give what you can.

That amount is per calendar year and not based on every twelve months. That would mean that they could give $56,000 (or more) in December 2017 and an additional $56,000 (or more) in January 2018. With only on month left in 2017, this is the time to bring up the subject with your family. What could make them happier than helping you buy a house and saving money on taxes?

For most types of mortgage loans, you will need to have 5% of the amount of the down-payment on your own, however, there are exceptions. To find out the exceptions and details about how gift money can be applied to your down-payment contact a reputable mortgage broker.

Visit www.marilynmessenger.com to see homes for sale, get the latest real estate market reports, and learn about having your own buyer agent on your side. 
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About the author: Marilyn Messenger, a licensed real estate broker, Certified Residential Specialist, and Accredited Buyer Representative associated with Andrew Mitchell and Company in Concord has been representing home buyers and sellers in Wayland, Sudbury, Maynard, Stow, and Concord MA since 1993. www.MarilynMessenger.com for more. 

The Perfect Last Minute Gift

It’s part of holiday tradition to celebrate with family and friends and to share gifts with our loved ones.  There’s no measuring how much is spent on the combined effort and money to find the perfect gift.

The challenge is to identify the right gift in the right color and size; something they really want and need; and something that won’t break the budget.

“Eight Gifts That Do Not Cost a Cent” are suggestions that have been offered on numerous Internet sites attributed to an anonymous writer.  They may be just what you need to find the perfect gift.

• THE GIFT OF LISTENING...but you must really listen. No interrupting; no daydreaming; no planning your response; just listening.

• THE GIFT OF AFFECTION...be generous with appropriate hugs, kisses, pats on the back and handholds.  Let these small actions demonstrate the love you have for family and friends.

• THE GIFT OF LAUGHTER...clip cartoons and share articles and funny stories.  Your gift will say “I love to laugh with you."

• THE GIFT OF A WRITTEN NOTE...it can be a simple "thanks for the help" note or a full letter.  A brief, handwritten note may be remembered for a lifetime and may even change a life.

• THE GIFT OF A COMPLIMENT...a simple and sincere, "you look great in red" or "you did a super job" or "that was a wonderful meal" can make someone's day.

• THE GIFT OF A FAVOR... go out of your way every day to do something kind.

• THE GIFT OF SOLITUDE...there are times when a person wants nothing more than to be left alone.  Be sensitive to those times and give the gift of solitude to others.

• THE GIFT OF A CHEERFUL DISPOSITION...the easiest way to feel good is to extend a kind word to someone.  It’s really not that hard to say, Hello or Thank You.

Wishing you all the best at the holidays and throughout the year; enjoy!

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Of course, the gift of home is always a great gift to yourself! Holiday time is when families often talk about moving - people get engaged, change jobs, combine households, down-size, announce new babies on the way, need more room, finding a better place for parents who need assistance...If you find yourself having these kinds of conversations and would like to talk about your next move, please contact me or visit www.marilynmessenger.com to search for homes, get the latest market reports for Concord, Wayland, Sudbury, Stow, and Maynard; learn about buyer agency, or request a valuation report for your home. 

A Home is More Than an Address

A home is a place to call your own, raise your family, share with your friends and feel safe and secure. It is also one of the largest investments most people have.

Leverage is the ability to control a larger asset with a smaller amount of cash through the use of borrowed funds. It has been described as using other people’s money to increase your yield and it applies to homeowners and investors alike. Positive leverage causes the yield to increase as the loan-to-value increases.

Even a modest amount of appreciation combined with the amortization of a loan can cause a substantial rate of return on the down payment and closing costs. Homes build equity as the price goes up due to appreciation and the unpaid balance goes down due to amortization.












The example above indicates the yield on a home considering 3% acquisition costs on the home with a 4.5% mortgage rate and the resulting equity at the end of five years. The different down payments will affect the yield based on the leverage effect. 
Whether you rent or buy the home you live in, you pay for what you occupy. The question a person is faced with is whether they are going to buy it for themselves or their landlord. Take a look at the cost of Renting vs. Owning.

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Inventory is dramatically shrinking and it is commonplace in many markets to have multiple offers on a home. While the sellers would prefer to be able to choose the best offer for them, it can be incredibly frustrating for the buyers who might consider the following tips to get their offer accepted.

1. Remove the uncertainty that you may not be approved for a mortgage by having a pre-approval letter from your mortgage company.  

2. Show your sincerity by increasing the normal amount of earnest money customary for the area and price of the home. The earnest money will be applied toward your down payment and closing costs.

3. Specify a closing date in the contract but acknowledge that you can be flexible to accommodate the sellers moving date. If it becomes an issue, it still must be mutually agreed upon.  

4. Make the contingency periods shorter if possible to make the seller feel that they’ll know sooner that the offer is solid.  

5. If the contingency really isn’t important to you, leave it out of the offer. The more contingencies included in a contract, the more the seller will feel might happen to keep it from actually closing. However, do not waive contingencies if it means risking your deposit. Even in a hot market, be careful.

6. Write a personal note to the seller explaining why you like and want their home. Consider including a picture of your family and pets. 

7. Physically sign the offer with a felt tip pen of contrasting color. You’d be surprised how this adds a personal touch to the offer.

Offer a fair price for the property in your initial purchase agreement. It shows sincerity and good faith that you’re actually trying to purchase the home and not trying to take advantage of the seller. The old adage that you can always go up later may never happen if there are multiple offers on the property in the beginning.

And, remember as a buyer you are entitled to have your own agent represent you and negotiate on your behalf. Sometimes buyers either don't understand what a buyer a can do for them or else they think going directly to the sellers' agent will benefit them. This could not be further from the truth - the sellers' agent is legally bound to act in the best interest of the seller.
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Marilyn Messenger is an Accredited Buyer Representative (ABR) and a Certified Residential Specialist (CRS) who has been representing buyers and sellers in Wayland, Sudbury, Maynard, Stow, Concord and the suburbs west of Boston since 1993.

Call Marilyn at 508-596-3501 or visit www.marilynmessenger.com for more information about buyer agency.

Connect with Marilyn Messenger on Google+

Renters Want to Buy

Fannie Mae, in a recently released study, states that consumer attitudes continue to be favorable about homeownership, particularly with the younger generations, ages 18 to 34. Slightly over half of them think that owning makes more sense than renting when comparing the financial and lifestyle benefits.
90% of aspiring owners expect to purchase a home someday and slightly over half think they’ll do it within five years. The primary challenges are having sufficient savings and the difficulty of getting a mortgage today.

Younger renters see renting as a temporary stepping stone toward homeownership.
Homeowners are far more likely than renters to be “very positive” about their housing experience. Some of the benefits identified are:

• Having control over what you do with your living space
• Having a sense of privacy and security
• Having a good place for your family or to raise your children
• Having the best investment plan
• Living in a nicer home
• Building up wealth
• Saving for retirement
• Living in a place where you and your family feel safe
• Feeling engaged in your community

To satisfy a buyer’s doubts about qualifying for a mortgage, make an appointment with a trusted mortgage professional. If you’d like a recommendation at no cost or obligation, please contact me at marilynmessenger@realtor.com.  Check out this Rent vs. Own to see the real cost of owning a home.
For more information about the Fannie Mae survey in presentation form, Click Here.

Acton (MA)Real Estate - Home Sales and Prices Up in May 2012

Single Family Homes: There are currently 94 single family homes for sale in Acton MA; last year there were 123 at this time. List prices range from $180,500 to $1,099,888. The median list price is $574,950 – 50K less than last year at this time; the average list price is $567,167, last year it was $573,517.

The Acton residential real estate market is very active. Of the 94 single family homes on the market, 25 already have offers accepted waiting for contingencies to clear, so the actual number of single family homes for sale is very low. Additionally, 35 single family homes went pending during May compared to 21 in May 2011.

May Closed Sales: Closed sales and sale prices for single-family homes in Acton were up substantially in May. There were 20 sold compared with just 8 during May 2011. The median sale price was $511,250; up from $432,000. The average was $518,320, up from $475,625. Based on the limited supply of homes on the market, buyers can expect competition and prices for homes increase. However, the market generally slows down during the summer so buyers who want to live in Acton should stay in the market and be prepared to step up if they find a home that suits their needs.

Year-to-date Sales: There were 55 single-family closed sales in Acton between January 1 and May 31 2012 up from 46 during the same period in 2011. The median sale price was $497,500, higher than May 2011 of $453,750. The May 2012 average price was $497,784; the average price in May 2011 was $521,014.

Condominiums and Townhouses: The supply of condominiums and townhouses in Acton has declined from last year at this time; there are 63 for sale compared with 76 last year. Prices range from $85,000 to $680,000. The median price is $289,800; last year it was $261,950. The average is $331,474; last year it was $268,625.

Acton has good selection of new construction attached and detached townhomes. Buyers can have their own buyer agent representing them but remember, the buyer agent must accompany the buyer to the site the first time they visit the site. If you’re interested in new construction, find a buyer agent first. While the agent on-site will be very friendly and helpful, remember, that person’s job is to act in the best interest of the builder, not you! A buyer agent who knows new construction and who knows how to negotiate can save you money.

Closed sales: Condominium sales are down from last year. There were 28 closed sales of condominiums and townhouses from 1/1 – 5/31/2012; there were 32 for the same period in 2011. The median price was $183,600; the average was $231,182; both lower than last year.

Source: MLSPIN (Multiple Listing Service Property Information Network)

Sudbury MA - Q1 Home Sales Highest Since Peak!

Lots of happy home sellers in Sudbury as the Spring real estate market arrived early and the number of single family homes sold was the highest since the peak in 2007.

In March, there were 21 closed sales up from just 7 last year when we were still buried in snow! Median and average sale prices in March were higher than last year and although have not made it back to 2007 levels, the housing market in Sudbury is moving in the right direction!                                                      

The current median list price in Sudbury is $768,500 compared with $862,500 last year at this time. The average list price is $885,045, last year it was $972,462.
More realistic pricing bringing buyers and sellers together again. There are currently 21 sales pending in Sudbury and there are 41 single family properties that have accepted offers. Homes that are priced correctly are getting offers in just days and we are seeing multiple offers too!

Buyers who want to live in Sudbury, be prepared. Get pre-approved for a mortgage so you know exactly what you can afford, decide what the trade-offs are (location, size, and condition) and connect with an experienced buyer broker/agent who can navigate you through this busy market!

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Acton MA Real Estate Update - Active Start to Spring Market!

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Single Family Homes: There are currently 76 single family homes for sale in Acton MA; last year there were 65 at this time. List prices range from $199,000 to $1,395,000. The median list price is $577,900; the average list price is $594,776, both higher than one year ago when the median was $549,900 and the average list price was $568,882.

The market is Acton is very active. Of the 76 single family homes on the market, 27 already have offers accepted waiting for contingencies to clear. There are also 23 homes with sales pending. The average list price for sales pending is $500,781. The average list price for properties with accepted offers is 516,534 – offers accepted are the most recent activity. We will know the actual sale prices when the properties close.

The average list price for these homes is lower than the average list prices for current listings that do not have accepted offers (unsold listings) and also lower than the average sale price in Acton for 2011. So here the million dollar question: is high activity due to lower list prices and will it continue as sellers ask more? In theory, price is based on supply and demand and if high activity continues and supply declines, then prices should go up; or will buyers step aside again? Stay tuned for next month’s report.

Year-to-date Sales: There were 14 single-family closed sales in Acton between January 1 and March 15; there were 15 during the same period in 2011; and median and average sale prices were both lower. The median sale price was $452,250, down from $553,000 in 2011. The average price was $503,130, also less than for the same period in 2011 when it was $561,560.

Condominiums and Townhouses: The supply of condominiums and townhouses in Acton has declined substantially from last year at this time; there are 46 for sale compared with 65 last year. So it’s no surprise that list prices are higher than last year. Prices range from $85,000 to $750,000. The median price is $272,400; last year it was $229,700. The average is $316,030; last year it was $278,158.

Acton has good selection of new construction attached and detached townhomes, and yes, buyers can have their own buyer agent representing them, however, the agent must accompany the buyer to the site the first time they visit. If you’re interested in new construction, find a buyer agent first. While the agent on-site will be very friendly and helpful, remember, that person’s job is to act in the best interest of the builder, not you!

Closed sales: There were 12 closed sales of condominiums/townhouses from 1/1 – 3/15/2012; exactly the same number as for the same period in 2011. The median price was $163,600; the average was $167,655; both lower than last year.

Source: MLSPIN (Multiple Listing Service Property Information Network)

Visit www.marilynmessenger.com for the latest market reports for Acton, Maynard, Sudbury, Wayland, and Stow. "Like" us on Facebook at Living West of Boston.

Wayland Real Estate Report -Active Early Spring Market!

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Single Family Homes: Spring market has started early in Wayland and home buyers are recognizing that this is a great time to buy. Although there are 84 single family homes for sale in Wayland compared with 57 last year at this time, 14 already have accepted offers that are being shown for backup offers only. Pending sales are also high for this early in the season; there are currently 22 single family home with sales pending.

Prices for single family properties in Wayland range from $244,900 to $14,900,000. The median price is $779,000; lower than last year when it was $826,500. The average list price is $1,152,814 only a few dollars less than last year. The average list price for properties with offers accepted is $753,407 and $674,559 for sales pending. Offers accepted are the most recent activity.

Closed Sales: There have been 23 closed sales in January and February 2012, up substantially from 9 for the first 2 months of 2011 however, sale prices are similar. The median sale price was $470,000, the average was $503,739. The median sale prices for January and February 2011 was $466,000; the average was $504,800. The average time on the market was 181 days, 20 days longer than last year.
The average sale price to the original list price ratio was 89%. The average sale price to adjusted list price ratio was 93%, proving that asking a higher price does not yield a higher sale price.

Condominiums/Townhouses: There are 33 condominiums/townhouses for sale in Wayland; last year there were 30. However, as with single family homes, many of the active listings already have accepted offers. List prices range for townhouses in Wayland range from $299,900 for a 1 bedroom townhouse to $1,100,000 for a 3200+ square foot luxury unit at “The Meadows.”

New construction townhomes are selling especially well in Wayland. There are 3 one-level garden style age restricted condos for sale ranging from $299,000 to $340,000. There were 7 condominiums sold in Jan/Feb in Wayland, only one more than last year. The median and average sale prices were both higher than last year.

Luxury Homes: As in most towns in the area, the luxury homes market in Wayland still has the best opportunities for buyers. There 26 properties listed in Wayland for over $1 million. Some of these properties have been on the market for a year or more so there are deals to be made!
 

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

Visit http://www.MarilynMessenger.com for the latest market reports for Wayland, Sudbury, Maynard, Stow, and Acton Massachusetts. "Like" our real estate and community page on Facebook - http://www.facebook.com/livingwestofboston.

Sudbury (MA) Real Estate 3/1/201 - Spring Comes Early to Sudbury!

Mild weather, low interest rates, pent up demand, lower prices... the spring residential real estate market has started early in Sudbury.  Although the number of single family homes for sale is substantially higher than last year at this time 114 up from 82, 32 of the active listings already have accepted offers! Additionally there are 17 properties with sales pending. The average time on the market for active listings is 178 days compared with 249 last year; however, as with inventory, time on market varies by price range.

Current list prices in Sudbury range from $229,900 for a 3 bedroom, 1 bath bank-owned home; up to $3,199,999 for a property located in the Wayside Inn area, described in MLS as “a palatial mansion” on 10+ acres that includes a museum with room for 70 cars. Both median and average prices in Sudbury are lower than they were last year. The median list is $777,000, last year it was $872,500; the average is $905,436, last year it was $1,057,914. There have been 30 price reductions on 27 single family homes since the first of the year.

Although the overall market is active for this time of year, for the luxury home sellers, no so much. There are 33 properties listed for over $1,000,000 in Sudbury, many of which have been on the market for over a year and some for as long as 2 years or more. In addition to the high number of luxury properties available, foreclosures and short sales* in Sudbury and as well as in Wayland, Weston have reduced values and provided excellent opportunities, especially for cash buyers.

Year to date (as of 2/29) there have been 16 closed sales in Sudbury, up from 12 last year. As with current listings, median and average sale prices were lower than last year. The median sale price was $475,000; the average was $616,000. The average sale price to original list price ratio was 89%; the average sale price to final list price ratio as 96%. These ratios are important because many sellers assume that they will get less money if they ask less when actually the opposite is true. Price is based on supply and demand; properties that are priced correctly attract more buyers, therefore increasing demand and increasing the price.

The condominium/townhouse market, which consists of mostly new construction in Sudbury, is also very active. However, unlike the single family market, the number of units for sale is substantially less than last year, only 12 compared with 26; and of the 12, 4 already have accepted offers. So it’s no surprise that list prices are up. The median list for a condominium in Sudbury is $634,500 and the average is $624,116.  

Check out what's for sale in the Sudbury area at www.MarilynMessenger.com.

* A short sale can be an alternative to foreclosure for a distressed homeowner. If you or someone you know needs help, Contact Marilyn for a confidential chat.

Marilyn Messenger is Short Sale certified and a member of the Luxury Homes Marketing Institute with a successful track record of closing short sales (only approx. 25% of short sales close, not every Realtor has the know-how and tanacity to get the job done.)

Acton MA Housing Market Report; Prices Rebound But Fewer Sales in 2011

Acton MA Market Report - January 2012

5 Year Comparisons 2007 - 2011; December Sales and Current Market Conditions

Median and Average sale prices for single-family homes sold in 20011 rebounded to 2008 levels. The number of homes sold was also very close to 2009; fewer than in 2010 and 2011.

Days on market is an important factor when pricing a house to sell. Buyers always want to know how long a property has been on the market. They assume the longer it's been on the market the more motivated the seller must be and the less they will offer.

December Sales: There were 13 single-family closed sales in Acton during December 2011; there were 14 in September 2010; and median and average sale prices were also less. The median sale price was $635,000, up from $533,900 in December 2010. The average price was $563,173, also up from December 2010 when it ws $545,055.

Current Market: There are 57 single family homes for sale in Acton MA; last year there were 62 at this time. List prices range from $199,000 to $1,100,000. The median list price is $525,000; the average list price is $526,217. both higher than one year ago when the median was $517,400 and the average list price was $541,565.

Of the 57 single family homes on the market, 9 have offers accepted waiting for contingencies to clear; and there are 13 homes with sales pending; 5 are new construction with closing dates ranging from the end of February to the end of May.

Condominiums and Townhouses: There are 52 condominiums for sale. Prices range from $74,900 for apartment/garden style units to $609,800 for new detached single-family style homes with 4 bedrooms, 2.5 baths, and 2 car garages. There are also a variety of young and new attached townhouses in the 400s, some but not all are age-restricted/55+.

There were 8 closed sales during 2011. The median price was $204,000; the average was $246,008.

Source: MLSPIN (Multiple Listing Service Property Information Network)

Wayland Market Report - Fewer Single Family Sales in 2011; Condo Sales Improve!

Single Family Homes: Good news for people who would like to live in Wayland. Inventory is up and the median list price is less than last year. There are 76 single family homes for sale in Wayland; 20 more than last year at this time.

List prices for single family homes in Wayland range from $179,900 to $18,800,000. At $627,000 the median list price is lower than last year at this time when it was $809,450. The average is $1,396,905, higher than last year when it was $1,099,993. Of the 76 single family homes for sale, 11 already have accepted offers and are being shown until contingencies clear. There are 13 properties with sales pending.

Closed Sales 2011 vs. 2010:
2011 – 123 closed sales
Median sale price - $560,000; average sale price - $616,096
Average time on market – 123 days

2010 – 133 closed sales
Median sale price - $565,000; average sale price - $629,815
Average time on market – 140 days
4^th Quarter Sales:
2011 – 18 closed sales
Median sale price – $555,750; average sale price - $580,906
Average time on market – 144 days

2010 – 29 closed sales
Median sale price - $548,000; average sale price - $652,164
Average time on the market – 157 days

December sales:
2011 – 7 sold; exactly the same number as 2010.

2011 Median price - $720,000; average price - $716,786
Average time on the market – 195 days

2010 Median price - $726,000; average price - $555,929
Average time on market – 114 days.

Condominiums/Townhouses: Condominium and townhouse sales improved dramatically in Wayland in 2011.

There were 41 closed sales compared with only 25 in 2010. The median sale price was higher at $559,000; in 2010 it was $585,319. And it took less time to sell; average time on the market in 2011 was 144 days; in 2010 it was 319 days.

There are currently 29 condo/townhouses for sale in Wayland including new construction at DeColores Drive near Commonwealth Road, Wayland Commons off Route 27, and The Field at Mainstone. Prices including resale and new units range from $329,900 to $1,100,000.

Luxury Homes Market: As in most towns in the area, the luxury homes market in Wayland still has the best opportunities for buyers. There 23 luxury homes for sale. Some of these properties have been on the market for several months; the average time on the market is 213 days. Winter is a great time to get a deal!

Click here to search complete MLS listings with addresses and maps; news and information and market reports for Wayland, Sudbury and the towns west of Boston. Visit and “like” www.facebook.com/livingwestofboston for the latest real estate news and community information. Data source: MLSPIN (Multiple Listing Service Property Information Network.

Sudbury Real Estate - Q3 Home Sales Up!

For Sale: Inventory of single family homes on the market in Sudbury is the same as last year; there are 134 with list prices ranging from 150,000 to $3,199,900. However, both median and average list prices are lower than last year. The current median is $788,750; the average is $906,004; last year the median was $850,000; the average was $999,736. Current activity shows there are 17 single family properties with accepted offers and 13 have sales pending.

Luxury Homes: If you are looking for a luxury home west of Boston, Sudbury has lots of excellent values; there are 40 properties listed between $1 million and $3,199,900; 26 of them in $1,000,000 to $1,499,900 range. With the average time on the market at 209 days, many sellers are ready to considers offers seriously. 

Rentals: There are also 13 rental properties available in Sudbury. Rents range from $1500 per month to $7500. Most rental properties require a 12 month lease with a first month, last month, and one month security deposit; and often the tenant is responsible for the leasing agent’s fee as well. In some cases this amount can be as much or more than a down payment on a mortgage and with interest rates still low, buying makes more sense for most people. People should consider long term and short term goals before deciding.

Closed Sales: There were 69 closed sales in Sudbury during the third quarter this year; up from 55 during Q3 in 2010. The median sale price for Q3 2011 was $655,000 a bit lower than last’s year median of $670,000; while the average at $737,660 was a bit higher than the Q3 2010 average of $714,861.
September sales were similar; 15 sales with a median price of $655,000 and an average price of $736,825 compared with 14 sales during September 2010 with a median sale price of $701,000 and an average sale price of $724,071.

Condos/Townhouses: For anyone looking for easy living, there are some excellent condominium/townhouse opportunities in Sudbury. There are 16 units available; most are new construction with prices starting at $499,900.

Find your next home here or search on Facebook at Living West of Boston (like us first.)

Stow MA Real Estate Report - More Homes for Sale in Stow!

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Welcome to the Stow MA Real Estate Market Conditions Report for August 2011.

Good time for buyers who would like to live in Stow. Current inventory for single family homes is up from last year at this time - 61 for sale compared with 45. The median list price is $419,900; last year at this time the median list price $437,700. The average list price is $465,496, almost exactly the same as last year. Of the 61 active/unsold single-family home listings, 4 have offers accepted waiting for contingencies to clear.

There are 3 single family homes with sales pending. Closed sales for the year through 7/31 were higher than last year - 47 up from 36. Median and the average sale prices were also higher - the median sale price was $507,800; the average was $472,488. The 2010 median sale price for the same period was $446,250; the average was $450,278.

July 2011 sales were slightly lower than July 2010 - 7 compared with 9. Median and average sales prices were higher than July 2010 but a bit lower than the median and average prices for the first 7 months of 2011.

Looking for easy living? There are 11 condomiums available in Stow; 4 townhouse style and 7 detached single family style with prices ranging $329,900 to $489,000.

Want to see what's on the market in Stow? Click here for complete MLS Listings.

Visit us at www.facebook.com/livingwestofboston to get market updates and community information about Stow, Sudbury, Maynard, Wayland, and Weston.

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

Wayland Real Estate Market - Good News for Buyers; Fewer Sales; Lower Prices

Custom Cape - List Price: $830,000

Single Family Homes: Current list prices for single family homes in Wayland range from $124,900 to $18,800,000. At $618,950 the median list price is lower than last year at this time when it was $629,450. The average is $1,077,036, higher than last year when it was $930,526.

The number of single family homes on the market is up slightly from last year; there are 98 compared with 94. The price range with the most homes available is $500,000 to $599,000; there are 18, so good choices for buyers. Inventory levels and time on the market are very similar to last year at this time however, both vary by price range. Of the 98 single family homes for sale, 11 already have accepted offers and are being shown until contingencies clear. The number of single family homes sold in July was down from July 2010 – 11 vs. 17. However, the median and average sale prices were higher. The median sale price in July 2011 was $615,000; the average was $636,545. Last July the median was $470,000; the average was $599,994. Currently there are 13 homes with sales pending.

Year-to-date through 7/31 there were 73 closed sales; last year there were 81. Along with fewer homes sold, both median and average prices were less. The 2011 median was $534,000; average was $600,785. The 2010 median was $567,105; the average was $624,027.Fewer sales and lower prices are good news for buyers; and sellers who are serious are adjusting their list prices according; there have been 41 price adjustments on 36 single family properties in Wayland since July 1. The average adjustment was -9.66%.

Condomiums/Townhouses: The condominium and townhouse market has improved over last year. Both the number of closed sales and the median sale price are up. Y-T-D through July 31, 2011 there were 21 condos/townhouses sold. The median sale price was $531,900; the average was $544,179. During the same period in 2010 there were 16 sold; the median price was $487,500; the average was higher at $663,525. The average in 2011 was $544,179. There are currently 26 for sale with prices ranging from $299,000 to $1,100,000.

Luxury Market: As in most towns in the area, the luxury homes market in Wayland still has the best opportunities for buyers. There 26 luxury homes available, some have been on the market for a year or longer; Fall is a great time to get a deal!

Click here 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.

Sudbury Housing Market - Single Family Closed Sales Steady Though July

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The market for single family homes in Sudbury MA has remained steady with 97 closed sales between January 1, 2011 and July 31, 2011; almost exactly the same number sold during the same period in 2010. Median and average sale prices were also very close; the median sale price was $637,500; the average sale price was 699,243. 

$610,000 - Sold in Sudbury;
the median price in July 2011

The number of new homeowners in Sudbury during the month of July was 23, also the same as last year. The median sale price in July 2011 was a bit lower at $610,000 than in 2010; the average price in July was $714,115.

Currently, there are 138 single family homes for sale in Sudbury; last year at this time there were 133 - the number of homes varies by price range and in some there are fewer than last year. 16 of 138 active listings have accepted offers with contingencies waiting to be fulfilled. Since August 1, thirteen single family homes came on the market; and 14 listings have had price adjustments avereging -5.03%. Additionally there are 19 homes in Sudbury with sales pending.

List prices range from $175,000 to $4,500,000. The median list price is $750,000; the average is $909,489 - both approx. 11% lower than last year. The average time on the market for active listings is 146 days; last year it was 164 days.

For anyone looking for easy living, there are some excellent condominium townhouse opportunities in Sudbury. Inventory is up and there have been substantial price reductions for some of the new construction for active adults.

Summer goes by quickly in New England and the Fall market is starting. People who want to move in October, November, December are putting their homes on the market in August and September. Buyers looking for good opportunities should start their searches now to get the best choices. Most homeowners do not want to have their houses on the market in the winter, so they are more motivated to sell at this time of year.

Click here to search for homes in Sudbury and get daily MLS updates. Search for homes on Facebook at www.facebook.com/livingwestofBoston.

 

Sudbury MA - Bright Spot in the Housing Market west of Boston

Sudbury MA is one of the brighter spots in the housing market these days as sales and recent prices have increased over last year. Currently, there are 156 single family homes for sale. Of the 156, 38 (approx. 24%) already have accepted offers, however, there are still many excellent opportunities for home ownership, especially for buyers looking for luxury properties. There are also 21 properties with sales pending. 
Despite the increase in recent sale prices, list prices in for single family homes in Sudbury are lower than last year at this time and range from $175,000 to $2,795,000. The median list price is $796,750 and the average list price is $912,003. Last year at this time list prices ranged from $199,000 to $3,195,000; the median price was $872,450 and the average was $1,008,617. Average time on the market is 153 days; last year it 171 days. As with the number of homes for sale, time on market varies by price range.

Between May 1 and June 15 there were 23 closed sales compared with 18 for the same period in 2010. The median sale price was$630,000 and the average was $699,728; both higher than last year when the median was 588,500 and the average was $647,333. While every house did not appreciate by the same amount, most sellers were happy to sell; and buyers who may have paid more than they may have last year where happy to beat the competition (yes, there were some bidding wars!) and were able to enjoy super low interest rates – a winning situation for all who wanted to move on!

For anyone looking for easy living, there are some excellent condominium/townhouse opportunities in Sudbury. Inventory is up and there have been substantial price reductions for some of the new construction for active adults.

Click here to search for homes in Sudbury and get daily MLS updates. Search for homes on Facebook at www.facebook.com/livingwestofBoston.

Get the latest market reports for Weston, Wayland, Sudbury, Maynard, and Stow at www.marilynmessenger.com.

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.