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Tagged : boston real estate news

Found 70 blog entries tagged as "boston real estate news".

What’s Causing Ongoing Home Price Appreciation? | MyKCM

If you’re thinking about making a move, you probably want to know what’s going to happen to home prices for the rest of the year. While experts say price growth will moderate due to the shifting market, ongoing appreciation is expected. That means home prices won’t fall. Here’s a look at two key reasons experts forecast continued price growth: supply and demand.

While Growing, Housing Supply Is Still Low

Even though inventory is increasing this year as the market moderates, supply is still low. The graph below helps tell the story of why there still aren’t enough homes on the market today. It uses data from the Census to show the number of single-family homes that were built in this country going all the way back to the 1970s.

What’s Causing Ongoing Home Price Appreciation? | MyKCM

The blue

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If You’re Selling Your House This Summer, Hiring a Pro Is Critical | MyKCM

 It can be tempting, especially with how hot the housing market has been over the past two years, to consider selling your home on your own. But today’s market is at a turning point, making it more essential than ever to work with a real estate professional.

Not only will a trusted real estate advisor keep you updated and help you make the best decisions based on current market trends, but they’re also experts in managing the many aspects of selling your house.

Here are five key reasons why working with a real estate professional makes sense today.

1. A Professional Follows the Latest Market Trends

With higher mortgage rates, rising home prices, and a growing number of homes for sale, today’s housing market is showing signs of a shift

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think smarter

Summer is here, and we can’t wait to explore the wonderful outdoors throughout Greater Boston! As temperatures heat up, we look to the Boston real estate market to see if it is following the same trend - or possibly starting to cool down? Nick walks us through what is happening in the market and some ways you can enjoy the wonderful summer season in Boston!

There have been some news reports that the market is cooling or adjusting. Is this true?

Mortgage rates are now above 6%, significantly increasing monthly mortgage payments for those buying now vs. 6-18 months ago.  The increase has affected the real estate market, especially over the past month.  Days on the market have increased, and we’ve seen fewer properties receive multiple offers. 

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Think Smarter Nick Warren

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

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Things That Could Help You Win a Bidding War on a Home | MyKCM

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):

Things That Could Help You Win a Bidding War on a Home | MyKCM

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

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Think Smarter Nick Warren

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

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Think Smarter Nick Warren

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

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Think Smarter Nick Warren

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

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What Every Seller Needs To Know About Renovating This Year | MyKCM

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

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With Mortgage Rates Climbing, Now’s the Time To Act | MyKCM

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

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