It is no surprise to anyone that the real estate market has had it's share of troubles along with so many other parts of our economy over these lst couple of years. Prices have fallen and buyer demand was so low that the federal government stepped in with a first time buyer incentive to try and stimulate the market. It did. But, unfortunately, as soon as the program ran out the buyers did too.
Everyone has been wondering when the market will come back - well, stop wondering and start looking, the market is back with a vengance this Spring! We are seeing great numbers of buyers entering the market. Multiple bids on properties - up to 15 or 20 have been seen already. The market, at least in our area, seems to have hit bottom and bounced back up again. The table below shows you the volume and sales prices for single family homes in certain towns, 2012 compared to 2011. As you will see, there is an increase in volume and in price.
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2012
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2011
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2012
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2011
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# under contract
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# sold
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Average price
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Average price
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Arlington
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31
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12
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540,677
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522,673
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Belmont
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24
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7
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841,704
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703,500
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Cambridge
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12
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1
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1,254,825
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843,750
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Medford
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18
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16
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375,211
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372,250
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Watertown
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11
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9
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576,045
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401,811
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Winchester
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17
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13
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873,676
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745,754
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Clearly, if you are thinking of selling a home in Massachusetts, now is truly a great time to get into the market! Call or visit Avenue 3 Real Estate today for market information which pertains to your home and for up to date pricing as well!
Download Free Smarter Seller Kit
Find tips on selling your home by downloading our very informative Smarter Seller Kit
What's Up this week in Belmont MA Real Estate?
The Multiple Listing Service is currently showing 88 active properties. 44 singles, average listing price $1,252,980 / 37 condos, average listing price $547,624 / 7 multi family homes, average listing price $969,543 with new properties being added daily.
Most of them can be seen at Open Houses over the weekend or with a scheduled appointment with an Avenue 3 Real Estate Agent!
Here are a few newly listed properties open in Belmont MA this Sunday that we at Avenue 3 thought you may find interesting based on asking price, location and amenities:
1. Single: 343 School Street, $629,500
2. Single: 44 Lawrence Lane, $830,000
3. Condo: 18 Alma Avenue, $489,000
Tempted? You can search all Belmont MA Open Houses here: Avenue 3 Open House Search
And while you're at it, search all current Belmont MA properties here: Avenue 3 Belmont MA Property Search
How does the market drive the asking price? Sold Properties. To search recent sold Belmont properties click here:
What's up this week in Arlington MA Real Estate?
The Multiple Listing Service is currently showing 108 active properties. 60 single family homes - average listing price $557,378 / 43 condos - average listing price $364,404 / 5 multi family homes, average listing price - $671,240 with new properties being added daily.
Most of them can be seen at Open Houses over the weekend or with a scheduled appointment with an Avenue 3 Real Estate Agent!
Here are a few newly listed properties open in Arlington MA this Sunday that we at Avenue 3 thought you may find interesting based on asking price, location and amenities:
1. Single: 38 Kimball Road, $499,000
2. Single: 72 Oakland Avenue, $729,000
3. Condos: 163 Highland Avenue, $379,000
Tempted? You can search all Arlington MA Open Houses here: Avenue 3 Open House Search
And while you're at it, search all current Arlington MA properties here: Avenue 3 Arlington MA Property Search
How does the market drive the asking price? Sold Properties. To search recent sold Arlington properties:
What's Up this week in Cambridge MA Real Estate?
The Multiple Listing Service is currently showing 259 active properties 40 single family homes, average listing price $1,283,673 / 192 condos, average listing price $524,918 / 17 multi family homes, average listing price $1,161,053 with new properties being added daily.
Most of them can be seen at Open Houses over the weekend or with a scheduled appointment with an Avenue 3 Real Estate Agent!
Here are a few newly listed properties open in Cambridge MA Real Estate this Sunday that we at Avenue 3 thought you may find interesting based on asking price, location and amenities:
1. Single: 32 Decatur Street, $1,399,000
2. Condo: 1802 Massachusetts Avenue, $289,000
3. Multi-family: 78 Oxford Avenue, $511,000
Tempted? You can search all Cambridge MA Open Houses here: Avenue 3 Open House Search
And while you're at it, search all current Cambridge MA properties here: Avenue 3 Cambridge Property Search
How does the market drive the asking price? Sold Properties. To search recent sold Cambridge properties:
You're ready to hit some Open Houses in MA this Sunday but time is limited due to weekend chores, spring clean-up and of course, some much needed chilling time to catch-up on. We're suggesting these 4 steps that will prepare you to make the experience efficient, easy and professional!
Step 1: Begin right here at the Avenue 3 Open House Search. You can browse through all the towns in Massachusetts, check open house hours and view property specifics in every property category. Once you have identified the properties you're visiting you can move on to step 2.
Step 2: Walkability Index. You will find this a very useful tool, especially if you are not familiar with the town and neighborhood of the homes, condos or multi-family properties you have identified in your price range. Just insert the address of a property and you will get the distance to the nearest public transportation, restaurants, shopping and even the commute to a work location! You'll find all that info right here: WalkScore.
Step 3: Register here with Avenue 3 and you'll have access to the recently sold properties in the neighborhood that you are visiting and considering as a place to live. This info will help you determine value on properties in the area and help you determine a future price on a home you find interesting.
Step 4: Once you'd identified the town or towns you're focusing your search on, visit our Community Pages. You'll find links for information about the history, services, businesses, schools and governments in the state of Massachusetts and in distinctive Boston Area communities.
There you have it! You're ready to start your search and again you find all the open house listings in MA this weekend here with Avenue 3's Open House search: Open Houses in MA
And don't forget Step 3: Register with Avenue 3 and get access to final sale prices of property in your towns of interest!
The terms
short sales,
foreclosures, and REO or bank owned properties
were real estate terms rarely heard a decade ago. Back then they were associated with the occasional mortgage fraud or personal financial tragedy. We know how times have changed and that the circumstances properties are sold short, are foreclosed upon and possessed by banks are the result of many mitigating factors; predatory lending, a major recession, and job losses, to name a few.
With all the hoopla in the news, one would think that every community was overwhelmed with distressed properties. Times have been tough for a lot of people since the financial crisis of 2008, but fortunately there are fighters and survivors. Many Greater Boston area cities and towns escaped the devastation that depressed property values and blighted neighborhoods. In fact, a look at the data for Watertown MA from MLSPIN, the regional multiple listing service, reveals that the numbers were modest for the 12 months ending 4/15/12. From a total of 301 sold properties, only 14 were either short sales or bank owned properties; 2 single family homes, 8 condos and 4 multi-families.That that's a skinny number!
That's good news for
Watertown MA Real Estate home owners but maybe not for those looking to "get a deal". For those buyers who want to live in a stable and vibrant community moving to Watertown is a thumbs-up for them!
If you are looking to purchase a "distressed" property and want to know more about short sales, you'll want to download our "Short Sales Tips" for the info you'll need to begin the adventure! And go to the Avenue 3 Short Sale Search tool to view all current short sale listings in MA.
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APRIL 25, 2012
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How strong is the Belmont MA real estate market?
In the 4 weeks ending 4/24/12, the average sale price has been 98%of the average asking price. Total market volume for the past 4 weeks: $11,847,400 compared to the same 4 weeks in 2011: $7,846,700!!!
Click below for the report:
"Belmont Closed Properties"
If you'd like to receive a "closed property list" for your town of interest like the one viewed for Belmont Real Estate, Contact Us with your request!
and here are the pending sales for Belmont and all the Greater Boston communities we track ...
Pending Sales April 15 - April 22
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You can take a look at all the current listings of condos for sale in Belmont MA and Belmont single & multi-fmilies or any MA town right here: Avenue 3 Property Search
For weekly MA real estate info:
What's up this week in Winchester MA Real Estate?
The Multiple Listing Service is currently showing 109 active properties. 78 singles - average listing price $1,077,326 / 28 condos - average listing price $618,193 / 3 multi family bldgs., average listing price - $575,967 with new properties being added daily.
Most of them can be seen at Open Houses over the weekend or with a scheduled appointment with an Agent!
Here are a few newly listed properties open in Winchester MA this Sunday that we at Avenue 3 thought you may find interesting based on asking price, location and amenities:
1. Single: 211 Washington Street, $619,000
2. Condo: 171 Swanton Street, Unit 15, $379,900
Tempted? You can search all Winchester MA Open Houses here: Avenue 3 Open House Search
And while you're at it, search all current Winchester MA properties here: Avenue 3 Winchester MA Property Search
How does the market drive the asking price? Sold Properties. To search recent sold Winchester properties:
What's up this week in Arlington MA Real Estate?
The Multiple Listing Service is currently showing 107 active properties. 57 single family homes - average listing price $597,365 / 45 condos - average listing price $369,072 / 5 multi family homes, average listing price - $661,060 with new properties being added daily.
Most of them can be seen at Open Houses over the weekend or with a scheduled appointment with an Avenue 3 Real Estate Agent!
Here are a few newly listed properties open in Arlington MA this Sunday that we at Avenue 3 thought you may find interesting based on asking price, location and amenities:
1. Single: 10 Fayette Street, $549,000
2. Single: 24 Chester Street, $699,900
3. Condos: 15 Mary Street, $415,000
Tempted? You can search all Arlington MA Open Houses here: Avenue 3 Open House Search
And while you're at it, search all current Arlington MA properties here: Avenue 3 Arlington MA Property Search
How does the market drive the asking price? Sold Properties. To search recent sold Arlington properties:
What's Up this week in Belmont MA Real Estate?
The Multiple Listing Service is currently showing 94 active properties. 47 singles, average listing price $1,176,117 / 40 condos, average listing price $573,348 / 7 multi family homes, average listing price $729,557 with new properties being added daily.
Most of them can be seen at Open Houses over the weekend or with a scheduled appointment with an Avenue 3 Real Estate Agent!
Here are a few newly listed properties open in Belmont MA this Sunday that we at Avenue 3 thought you may find interesting based on asking price, location and amenities:
1. Single: 1097 Concord Avenue, $739,000
2. Condo: 47 Sycamore Street, $529,900
Tempted? You can search all Belmont MA Open Houses here: Avenue 3 Open House Search
And while you're at it, search all current Belmont MA properties here: Avenue 3 Belmont MA Property Search
How does the market drive the asking price? Sold Properties. To search recent sold Belmont properties:
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APRIL 18, 2012
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How strong is the Cambridge MA condo real estate market?
In the 4 weeks ending 4/15/12, the average sale price has been equal to the average asking price. What does that say? Some condos are selling over asking!
Click below for the Condo report...
"Cambridge Closed Properties"
If you'd like to receive a "closed property list" for your town of interest like the one viewed for Cambridge, Contact Us with your request!
and here are the pending sales for Cambridge and all the Greater Boston communities we track ...
Pending Sales April 8 - April 15
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You can take a look at all the current listings of condos for sale in Cambridge MA and Cambridge single & multi-fmilies or any MA town right here: Avenue 3 Property Search
For weekly MA real estate info:
It's a new season and many folks are getting back to the business at hand: Looking for single family, condo or multi-family property to call home! This task usually involves visiting Sunday open houses and so we've re-publishing this blog. Here's the information you need to know when you pass through the door and say hello to the person waiting to greet you.
The Internet is usually the place buyers begin their home search. After filtering through the inventory and taking virtual tours, they are ready for the next step. That may mean touring weekend open houses.
If you are a buyer who has not yet engaged the services of an Exclusive Buyer’s Agent, there are things you should know about the role of the real estate agent hosting the open house. The hosting agent may be the Seller’s Exclusive Agent, or the host may be another agent - a Facilitator. The Facilitator is there to answer questions about the property, but she doesn’t represent either the seller or a buyer in that specific role. A Facilitator may become a Buyer’s Representative with a Buyer’s consent.
The Seller’s Exclusive Agent can assist you with the purchase of her exclusive listing but only with Consent to Dual Agency, which would need to be granted by both you and the Seller. Alternatively, the Seller’s Exclusive Listing agent can assist you in the purchase as the Seller’s agent, meaning the Buyer purchases without a “Buyer’s” representative.
The Open House host, regardless of who it is, is required, by a Realtor Code of Ethics, to determine if you are already under contract with an Exclusive Buyer’s Agent before she can engage in a conversation about working with you. Expect to be asked, it doesn’t reflect over aggressiveness.
If you feel the host is someone you would be comfortable with, ask about how you might work with her. In the end, a Seller wants to sell, and a Buyer wants to buy. We just need to be sure everyone understands our responsibilities and obligations to the consumer.
Debby Heffernan, principal
Looking for an Agent to represent you? Visit Avenue 3 Agent Profile Page
And to view all the Open Houses in MA click here!
So you are looking to buy a home. Everyone, it seems, is using the internet to begin their search. But where should you go on the internet for the kind of information you need? There seem to be some basic “categories” of real estate sites to choose from in your quest.
National: Looking far afield? Realtor.com provides easy search for properties throughout the US and information on agents available to help you in the area of your search.
Local: Want the buzz on what is happening in the town as well as the real estate search? Look to sites such as wicked local, boston.com or municipality pages like cambridgema.gov.
Business Buzz: Want some information on real estate properties as well as a chance to listen to real estate agent chatter? Check out sites like Trulia and Yahoo Real Estate that provide search as well as blogging and Q&A from agents. They act as a referral site to send your info to agents.
Fly in the Sky: Birds eye views from Zillow and the wide ranging maps are fun to use. Just beware, Zillow’s information is best used for big picture as their actual listings are often outdated and their “Zestimates” truly are estimates of value.
Household Tips: Try houselogic.com for information on household tips as well as general info on buying and selling.
Best Use of Your Time: Find a local agency like Avenue 3 Real Estate. Our search is easy to use and has interactive maps, the information is complete and up to date. There is loads of information on real estate transactions and local communities and our blogs are timely and informative.
Happy Hunting!
For more home buying tips download our informative Better Buyer Kit!
Buying a home in MA is not the easiest thing to do. First you have to find a home to suit your needs and then you need to navigate the buying process. Unlike other states, buying a home in Massachusetts is a multi stage process. First, you put forth your Offer to Purchase, then comes the Home Inspection, then, the Purchase and Sale Agreement , Mortgage and Closing.
Along the way you will be asked to sign many forms and contracts. Some of these are issued by the State of Massachusetts, like the Mandatory Licensee Consumer Relationship Disclosure, the Property Transfer Lead Paint Notification and the Home Inspector Facts for Consumers. Others are issued by the Greater Boston Real Estate Board or the real estate company with which you are working. These may include Buyer Representation Agreements and the Offer to Purchase itself.
If you are thinking of buying a home in the near future, give yourself a head start by reading these forms before you are in the middle of a transaction. Avenue 3 provides you a kit full of forms and contracts typical to buying a home in Massachusetts. You will have plenty of time to understand them and learn how to they affect your home buying process.
Download our free Real Estate Forms Kit for Buyers to see the forms and contracts involved in making an offer to purchase a home in Massachusetts. If you have any questions regarding these or other forms or contracts, please do not hesitate to contact us with your questions.
The terms short sales, foreclosures, and REO or bank owned properties were real estate terms rarely heard a decade ago. Back then they were associated with the occasional mortgage fraud or personal financial tragedy. We know how times have changed and that the circumstances properties are sold short, are foreclosed upon and possessed by banks are the result of many mitigating factors; predatory lending, a major recession, and job losses, to name a few.
With all the hoopla in the news, one would think that every community was overwhelmed with distressed properties. Times have been tough for a lot of people since the financial crisis of 2008, but fortunately there are fighters and survivors. Many Boston area cities and towns escaped the devastation that depressed property values and blighted neighborhoods. In fact, a look at the data for Cambridge MA from MLSPIN, the regional multiple listing service, reveals that the numbers were modest for the 12 months ending 3/31/12. From a total of 896 sold properties, only 9 were either short sales or bank owned properties. That that's a skinny number!
That's good news for Cambridge MA Real Estate home owners but maybe not for those looking to "get a deal". For those buyers who want to live in a stable and vibrant community it's good news for them.
If you are looking to purchase a "distressed" property and want to know more about short sales, you'll want to download our "Short Sales Tips" for the info you'll need to begin the adventure! And go to the Avenue 3 Property Search tool to view all current listings in MA.
What's up this week in Medford MA Real Estate?
The Multiple Listing Service is currently showing 129 active properties. 61 singles - average listing price $389,907 / 47 condos - average listing price $294,149 / 18 multi family homes -average listing price $491,115 / with new properties being added daily.
Most of them can be seen at Open Houses over the weekend or with a scheduled appointment with an Avenue 3 Real Estate Agent!
Here are a few newly listed properties open in Medford MA this Sunday that we at Avenue 3 thought you may find interesting based on asking price, location and amenities:
1. Single: 85 Brooks Street, $699,000
2. Condo: 91 Burget Avenue Unit 2, $445,000
3. Multi-Family: 96 Otis Street, $499,000
Tempted? You can search all the Medford MA Open Houses here: Avenue 3 Open House Search
And while you're at it, search all current Medford MA properties here: Avenue 3 Medford MA Property Search
How does the market drive the asking price? Sold Properties. To search recent sold Medford properties:
What's Up this week in Watertown MA Real Estate?
The Multiple Listing Service is currently showing 105 active properties. 22 singles, average listing price $502,109 / 70 condos, average listing price $382,069 / 13 multi family homes, average listing price $518,738 with new properties being added daily.
Most of them can be seen at Open Houses over the weekend or with a scheduled appointment with an Avenue 3 Real Estate Agent!
Here are a few newly listed properties open in Warertown MA this Sunday that we at Avenue 3 thought you may find interesting based on asking price, location and amenities:
1. Singles: 22 Harnden Avenue: $419,000
538 Main Street: $445,000
2. Condo: 110 Poplar Street, Unit 1: $339,000
Tempted? You can search all Watertown MA Open Houses here: Avenue 3 Open House Search
And while you're at it, search all current Watertown MA listings here: Avenue 3 Property Search
How does the market drive the asking price? Sold Properties. To search recent sold Watertown properties:
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APRIL 10, 2012
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The spring Watertown MA real estate market has begun and the recent Sunday open houses in Watertown MA have been very well attended! Some of the reasons could be: still historically low mortgage interest rates, more "new" exciting inventory entering the market, the continued great weather we're experiencing and very motivated & qualified buyers!!!
A few interesting facts/numbers regarding the last 4 weeks for Watertown MA real estate:
Watertown Single Family Homes:
11 - number of units under agreement
$537,027 - average list price
85 - average days on market
Watertown Condominium Homes:
32 - number of units under agreement
$339,850 - average list price
59 - average days on market
Watertown Multi - Family Homes:
6 - number of units under agreement
$599,467 - average list price
14 - average days on market
For a look at the current listings in Watertown MA click here: Avenue 3 Property Search
and here are the pending sales for Watertown and all the Greater Boston communities we track ...
Pending Sales April 1 - April 8
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(Why is it important to for both Buyers and Sellers to follow the pending sales trend? Click on the button for the answers!)
Typically most Buyers will end up painting their newly purchased property to make the house their home. So why as a Seller would you paint, freshen-up walls and touch-up woodwork before placing your home on the market? The answer is a simple one, painting is one the most inexpensive ways to transform your interior and exterior spaces to a fresh up-to-date look and quality mass appeal. What buyer wouldn’t be tempted by walking into a condo in Boston or one of many Arlington MA homes for sale freshly painted and looking spanking new!
Making good color choices will enhance the potential for a quick sale and you don’t need to pay a designer for the latest trends. You can easily pick up a recent brochure from Pottery Barn or Crate and Barrel and they will give you the insight of a world class designer with the modern consumer in mind. Note: don’t get too extravagant stay conservative and stick to neutral colors. The smell of fresh paint never hurts either!
Here’s a summary on Color Psychology that you may find useful:
• Black is the color of authority and power. It is also stylish and timeless. Black also implies submission. Not a good choice for any room unless your hobby is developing photos!
• White symbolizes innocence and purity. White reflects light and is considered a summer color. White is popular in decorating and in fashion because it is light, neutral, and goes with everything. However, white shows dirt and is therefore more difficult to keep clean than other colors.
• Red the most emotionally intense color, red stimulates a faster heartbeat and quick breathing. It is also the color of love. In decorating, red is usually used as an accent. Decorators say that red furniture should be perfect since it will attract attention.
• Pink is the most romantic color, it is more tranquilizing. Sports teams sometimes paint the locker rooms used by opposing teams bright pink so their opponents will lose energy.
• Blue is one of the most popular colors. It causes the opposite reaction as red. Peaceful, tranquil blue causes the body to produce calming chemicals, so it is often used in bedrooms. People are more productive in blue rooms.
• Green is currently the most popular decorating color; green symbolizes nature. It is the easiest color on the eye and can improve vision. It is a calming, refreshing color. Dark green is masculine, conservative, and implies wealth.
• Yellow cheerful sunny yellow is an attention getter. While it is considered an optimistic color, it is the most difficult color for the eye to take in, so it can be overpowering if overused.
• Purple the color of royalty, purple connotes luxury, wealth, and sophistication. It is also feminine and romantic. However, because it is rare in nature, purple can appear artificial.
• Brown solid, reliable brown is the color of earth and is abundant in nature. Light brown implies genuineness.
Apparently it is the opinion of many contractors that Benjamin Moore paint adheres and dries more evenly than all the competition. If you’re still unsure of the color swing by City Paint in Arlington on Mass Ave. They have a consultant there to help you can even bring along some photos of the rooms you’ll be painting, it always helps!
Selling your home? Download our "Better Seller Kit" for the info you need for a successful sale.
What's Up this week in Belmont MA Real Estate?
Please note: the Open houses listed below in Cambridge will be held on Saturday, April 7th.
The Multiple Listing Service is currently showing 96 active properties. 54 singles average listing price $1,048,233 / 37 condos average listing price $548,270 / 5 multi family bldgs. average listing price $774,540 with new properties being added daily. Most of them can be seen at Open Houses over the weekend or with a scheduled appointment with an Agent!
Here are a few newly listed properties open in Belmont MA this Saturday that we at Avenue 3 thought you may find interesting based on asking price, location and amenities:
1. Single: 70 Albert Avenue, $659,000
2. Condo: 32 Skahan Road, $349,900
Tempted?
You can search all Belmont MA Open Houses here: Avenue 3 Open House Search
And while you're at it, search all current Belmont MA properties here: Avenue 3 Belmont MA Property Search
How does the market drive the asking price? Sold Properties. To search recent sold Belmont properties:
What's Up this week in Cambridge MA Real Estate?
Please note: the Open houses listed below in Cambridge will be held on Saturday, April 7th.
The Multiple Listing Service is currently showing 192 active properties. 33 singles average listing price $1,216,558 / 149 condos average listing price $548,168 / 10 multi family bldgs. average listing price $1,015,800 with new properties being added daily. Most of them can be seen at Open Houses over the weekend or with a scheduled appointment with an Agent!
Here are a few newly listed properties open in Cambridge MA Real Estate this Saturday that we at Avenue 3 thought you may find interesting based on asking price, location and amenities:
1. Single: 48 Dana Street, $1,250,000
2. Condo: 345 Harvard Street, 4F, $499,000
3. Multi -family: 99 Aberdeen Avenue, $950,000
Tempted? You can search all Cambridge MA Open Houses here: Avenue 3 Open House Search
And while you're at it, search all current Cambridge MA properties here: Avenue 3 Cambridge Property Search
How does the market drive the asking price? Sold Properties. To search recent sold Cambridge properties:
What's up this week in Arlington MA Real Estate?
Please note: the Open houses listed below in Cambridge will be held on Saturday, April 7th.
The Multiple Listing Service is currently showing 103 active properties. 50 singles - average listing price $599,238 / 45 condos - average listing price $383,983 / 9 multi family bldgs., average listing price - $601,453 with new properties being added daily.
Most of them can be seen at Open Houses over the weekend or with a scheduled appointment with an Agent!
Here are a few newly listed properties open in Arlington MA this Saturday that we at Avenue 3 thought you may find interesting based on asking price, location and amenities:
1. Single: 155 Scituate Street, $509,900
2. Condo: 24 Swan Place, Unit A, $339,000
Tempted? You can search all Arlington MA Open Houses here: Avenue 3 Open House Search
And while you're at it, search all current Arlington MA properties here: Avenue 3 Arlington MA Property Search
How does the market drive the asking price? Sold Properties. To search recent sold Arlington properties:
The terms short sales, foreclosures, and REO or bank owned properties were real estate terms rarely heard a decade ago. Back then they were associated with the occasional mortgage fraud or personal financial tragedy. We know how times have changed and that the circumstances properties are sold short, are foreclosed upon and possessed by banks are the result of many other mitigating factors; predatory lending, a major recession, and job loss, to name a few.
With all the hoopla in the news, one would think that every community was overwhelmed with distressed properties. Times have been tough for a lot of people since the financial crisis of 2008, but fortunately there are survivors. Many Boston area cities and towns escaped the devastation that depressed property values and blighted neighborhoods. In fact a look at the data from the Boston area multiple listing service, MLSPIN, indicated the numbers were modest for the 12 months ending 3/31/12 in many cities and towns. Belmont MA had 1 single family home, 1 condo and 1 multi family sell through a short sale or foreclosure. That total is a skinny number!
That's good news for Belmont home owners but maybe not for those looking to "get a deal". For those buyers who want to live in a stable and vibrant community it's good news for them.
If you are looking to purchase a "distressed" property and want to know more about short sales, you'll want to download our "Short Sales Tips" for the info you'll need to begin the adventure! And go to the Avenue 3 Property Search tool to view all current listings in MA.
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APRIL 4, 2012
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The spring Belmont MA real estate market has begun and the recent Sunday open houses in Belmont MA have been very well attended! Some of the reasons could be: still historically low mortgage interest rates, more "new" exciting inventory entering the market, the continued great weather we're experiencing and very motivated & qualified buyers!!!
A few interesting facts/numbers regarding the last 4 weeks for Belmont MA real estate:
Belmont Single Family Homes:
14 - number of units under agreement
$745,400 - average list price
50 - average days on market
Belmont Condominium Homes:
16 - number of units under agreement
$615,356 - average list price
101 - average days on market
Belmont Multi - Family Homes:
1 - number of units under agreement
$569,000 - average list price
16 - average days on market
For a look at the current listings in Belmont MA click here: Avenue 3 Property Search
And here are the pending sales for Belmont and all the Greater Boston communities we track ...
Pending Sales March 25 - April 1
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(Why is it important to for both Buyers and Sellers to follow the pending sales trend? Click on the button for the answers!)
What is my best advice for buying a home and selling another home at the same time? It is the 2:00 am test. You have been sleeping, you wake up at 2:00 am and think (a) OMG, I bought a house and I have not sold this one…I could be stuck with two mortgages until I can get this property sold or, (b) OMG I sold this house and I have nowhere to live once it closes, I might need to rent and move twice. Good stuff. What you need to decide is which is more palatable for you.
Unfortunately, in order to succeed with buying a home and selling a home at the same time, you must, at some point, “step into the void” to get from one property to another. Buying before selling entails the possibility of owning two properties at the same time- something most folks cannot afford as their banks are only to happy to tell them. The upside of buying a home before selling your current home is that you potentially have more control of the transaction. You cannot control the inventory of homes to choose from as a buyer, but you can lower the price on your home for sale, in order to meet the market and speed up the sale process.
Selling a home before buying may mean that you don’t find your new home in the time alloted in your contracrt and you might have to rent for the short term, moving twice to get to your new home. The upside is that you have your money in the bank from your sale, and you know exactly what you have to spend on a new home – with plenty of time to find it.
Either way it seems a daunting process, however, be comforted by the knowledge that in my 20+ years of real estate sales, no one has ever had to rent or face two mortgages – not sure if that is kismet or extreme motivation but it always seems to work out!
Karen Lilley, Principal
For more info on buying and selling a home download our Better Buyer and Smarter Seller Kits.
Download Free Home Buying Kit
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Earlier in my real estate career I had different perspective on what were meaningful and appropriate closing gifts for my 1st time home buyer clients. It addition to the celebratory bottle of wine or bubbly, it would be a subscription to the local newspaper, custom designed "We've Moved" cards or personalized stationary embossed with their new Cambridge MA condo address. Times have changed and so have the gifts.
I've identified a more relevant need for my Gen Y first time single family and two family home buyers- its a Tool Box.
Here are the basic ingredients, culled from my own experience as an Arlington single family home owner.
1. A claw head hammer and an assortment of nails-Essential for hanging pictures, mirrors and making small repairs.
2. A ratchet screwdriver with multiple bits for flathead, phillips head and hex screws.- Needed for assembling, installing and tightening hundreds of things
3. A power drill- Needed for hanging those display shelves, book shelf brackets and vanity cabinets.
4. A set of precision screwdrivers- You know, those itsy-bitsy screwdrivers that are good for eyeglass repair, small electronics and other household stuff.
5. A tape measure, wire cutter, stud finder and leveler- You want to be sure those pictures are centered and the shelves level.
6. Several wrenches and pliers.- Things routinely need to be tighten and replaced.
And the package is complete when it's wrapped in a shiney red tool box!
So.... I've just killed the surprise for my clients who are purchasing their first single family home in Arlington MA this month! Oh well.
Published by: Deborah Heffernan, principal
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Find tips on buying a home by downloading our very informative Better Buyer Kit.