This month, Nick advises first-time home buyers and ideas for helping them navigate the competitive landscape of the Boston real estate market. Read on to learn how to make an offer competitive and one crucial piece of advice that can help you buy your first home.

What makes the Boston real estate market unique for first-time buyers?

First-time homebuyers in Boston are a bit different. Given that our average sold price in Boston is now over $1m, first-time buyers typically have to wait a bit longer until they can afford to buy a property here vs. other parts of the country.  

Even if they are waiting until they are in their late 20s or 30s, they still may not have enough money for a down payment, so we often see first-time buyers get help

With a limited number of homes for sale today and so many buyers looking to make a purchase before mortgage rates rise further, bidding wars are common. According to the latest report from the National Association of Realtors (NAR), nationwide, homes are getting an average of 4.8 offers per sale. Here’s a look at how that breaks down state-by-state (see map below):

The same report from NAR shows the average buyer made two offers before getting their third offer accepted. In this type of competitive housing market, it’s important to know what levers you can pull to help you beat the competition. While a real estate professional is your ultimate guide to presenting a strong offer, here are a few things you could consider.

Offering over

Nick and the rest of the office recently got a special behind-the-scenes tour of the brand new Raffles Residences. This month, he talks about the exciting aspects of these highly anticipated homes and how they will blend into the Boston landscape.

What can you tell us about the new Raffles Residences?

Like many Bostonians, I had never heard of the Raffles hotel brand before. Walking into the sales center of the Raffles Residences, I sensed a different level of quality and finishes in these homes compared to what we see in many of the new luxury towers in Boston. 

The attention to detail was noticeable immediately, even in the small details like the knockers on the front door. 

This group of developers definitely wasn’t interested in

As we enter the spring market, which is historically the busiest in Boston real estate, Nick gives his insight on what you can expect during the season. He offers tips for sellers looking to make a move and those looking for their first home in the Boston area.

What do you expect to see in the busy spring market over the next few months?

One of the factors likely contributing to the increased demand we have already seen in 2022 is the additional six rate hikes the Fed will likely make before the end of the year.  Many buyers are racing against the clock to lock in mortgage rates before they creep higher and reduce their buying power.  

I believe that this trend will continue to get stronger as we get into the spring market resulting in

As spring approaches, many people start thinking about listing their homes for sale in the Boston area. Nick discusses what sellers can expect this year in suburban and city markets. He also gives tips for best maximizing your sale price when you sell.

What can sellers expect in the suburban markets around Boston?

2022 seems to be following in 2021’s footsteps regarding the suburban market. Our agents report even more activity at open houses and multiple offer scenarios. Buyers are becoming more aggressive with dropping contingencies to compete. I believe that this is partially due to buyers' rush to get something under agreement before rates rise.  

I expect this trend to continue for a few months until the rates rise to a point where some

If you’re planning to sell your Boston home this year, you’re probably thinking about what you’ll need to do to get your house ready to appeal to the most buyers. It’s crucial to work with a trusted real estate professional who knows your local market to get your home ready to sell. But there are a few things you should consider when deciding what to renovate and update before listing this season. Here are three things to keep top of mind as you’re making your list of projects to tackle this year.

1. The Number of Homes for Sale Is Very Low

Housing inventory sits far below what is normally considered a balanced market. In fact, according to the National Association of Realtors (NAR), the latest data indicates inventory is hitting an all-time

Last week, the average 30-year fixed mortgage rate from Freddie Mac jumped from 3.22% to 3.45%. That’s the highest point it’s been in almost two years. If you’re thinking about buying a home in the Boston area, this news may have come as a bit of a shock. But the truth is, it wasn’t entirely unexpected. Experts have been calling for rates to rise in their 2022 projections, and the forecast is now becoming a reality. Here’s a look at the projections from Freddie Mac for this year:

• Q1 2022: 3.4%
• Q2 2022: 3.5%
• Q3 2022: 3.6%
• Q4 2022: 3.7%

As the numbers show, this jump in rates is in line with the expectations from Freddie Mac. And what they also indicate is that mortgage rates are projected to continue climbing throughout the

As we enter into a new year, Nick chats about some exciting new projects around Boston. He also gives tips for buyers and renters looking to make a move in the new year.

What are some new developments that you are excited about this year?

I’m excited to see the St. Regis Residences in the Seaport be completed.  Their services and finishes are extraordinary and will set a new bar for Boston luxury real estate.  Our agents have pre-construction access for anyone interested in potentially purchasing a condo in this project.  

Another new luxury development slated for completion in 2022 is The Parker.   Just steps from the Boston Common, this development has some of the best deals in new construction anywhere in the city.  I also think there is

As a buyer in a sellers’ market, sometimes it can feel like you’re stuck between a rock and a hard place. When you’re ready to make an offer on a home in the Boston area, remember these five easy tips to help you rise above the competition.

1. Know Your Budget

Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it:

“This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.”

Showing sellers you’re serious can give you a competitive edge, and it helps you act quickly when you’ve found your perfect

If you’re thinking of buying a home in today’s housing market, you may be wondering how strong your investment will be. You might be asking yourself: if I buy a home now, will it lose value? Or will it continue to appreciate going forward? The good news is, according to the experts, home prices are not projected to decline. Here’s why.

With buyers still outweighing sellers, home prices are forecast to continue climbing in 2022, just at a slower or more moderate pace. Why the continued increase? It’s the simple law of supply and demand. When there are fewer items on the market than there are buyers, the competition for that item makes prices naturally rise.

And while the number of homes for sale today is expected to improve with more