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Tagged : boston real estate news

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

Think Smarter with Nick

What is it like to sell your home during this competitive and crazy market? Nick talks about some transactions over the past few months to highlight how the inventory shortage impacts sellers. He also gives tips for how sellers can be competitive and sell for top dollar in this market.

What have you seen in recent transactions that is unique to the market right now?

I've written about this before, but the unique thing we have been seeing in transactions right now vs. a regular balanced market is that buyers have become so frustrated with losing out on offers that they are willing to take on significant risk by removing contingencies.  The most important thing when considering this as a buyer is that you know what those risks are.  I wrote a

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The Right Expert Will Guide You Through This Unprecedented Market | MyKCM

In a normal market, it’s good to have an experienced guide coaching you through the process of buying or selling a home in the Boston area. That person can advise you on important things like pricing your home correctly or the first steps to take when you’re ready to buy. However, the market we’re in today is far from normal. As a result, an expert isn’t just good to have by your side – an expert is essential.

Today’s Boston housing market is full of extremes. Mortgage rates hovering near record-lows are driving high buyer demand. On the other hand, an absence of sellers is creating record-low housing inventory. This imbalance in supply and demand is leading to a skyrocketing rate of bidding wars and more houses selling over their asking price.

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Think Smarter with Nick

This month Nick gives his advice to buyers looking to make a move this spring/summer. With a highly competitive Boston real estate market, it can be challenging, but there are ways to be competitive and purchase the home of your dreams!

There is a lot of talk about “contingencies” right now - can you explain these?

Contingencies are clauses in an offer that define a condition or action that must be met for the purchase contract to become legally binding.  

Typical contingencies buyers use in offers include:

  • Inspection Contingency - Allows the buyer to have a professional home inspector inspect the property and then decide whether they want to move forward with the purchase, potentially renegotiate the price/terms, or back out and

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Don’t Forget to Budget for Closing Costs | MyKCM

When buying a home in Boston, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses. Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required to get a mortgage is just as important.

What Are Closing Costs?

According to Trulia:

“When you close on a home, a number of fees are due. They typically range from 2% to 5% of the total cost of the home, and can include title insurance, origination fees, underwriting fees, document preparation fees, and more.”

For example, for someone buying a $300,000 home, they could potentially have between $6,000 and $15,000 in closing fees. If you’re in the market for a home above this price range, your

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The Inventory Crisis

Over the past few months, there hasn’t been a morning that my notifications weren’t filled with headlines talking about the real estate inventory crisis.  I can’t even escape hearing about it while mindlessly scrolling through TikTok!  

But, while we are all well aware of the crisis, understanding why it is happening isn’t as clear, even to those in the real estate industry.  So I figured I’d try to summarize my thoughts on what is happening in “this crazy real estate market!”.

The Perfect Storm

There isn’t just one factor that created the situation we are experiencing.  It is more of a “perfect storm” of multiple scenarios playing out at the same time.  Below are, in my opinion, some of the biggest culprits.

  • A

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4 Tips to Maximize the Sale of Your House | MyKCM

Homeowners ready to make a move are definitely in a great position to sell today all around Boston. Housing inventory is incredibly low, driving up buyer competition. This gives homeowners leverage to sell for the best possible terms, and it’s fueling a steady rise in home prices throughout Greater Boston.

In such a hot market, houses are selling quickly. According to the National Association of Realtors (NAR), homes are typically on the market for just 18 short days. Despite the speed and opportunity for sellers, there are still steps you can take to prep your house to shine so you get the greatest possible return.

1. Make Buyers Feel at Home

One of the ways to make this happen is to take time to declutter. Pack away any personal items

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Think Smarter with Nick

Spring is officially here, and the Boston real estate market certainly is heating up like the weather! Nick gives tips for sellers looking to make a move this spring - and how to best prepare your home for sale, as well as pricing their home competitively. He also offers an important suggestion for buyers navigating the common bidding wars we are seeing in the market today.

As the spring market fully gets underway, we see a vast amount of activity, especially in suburban markets. What can sellers in these areas do to make their homes more appealing to buyers?

Even though inventory is low in the suburbs and homes fly off the shelves, it still doesn’t mean that a seller shouldn’t position their property in the best possible way.  My recommendation

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What It Means To Be in a Sellers’ Market | MyKCM

If you’ve given even a casual thought to selling your house in the near future, this is the time to really think seriously about making a move. Here’s why this season is the ultimate sellers’ market around Boston and the optimal time to make sure your house is available for buyers who are looking for homes to purchase.

The latest Existing Home Sales Report from The National Association of Realtors (NAR) shows the inventory of houses for sale is still astonishingly low, sitting at just a 2-month supply at the current sales pace.

Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (See graph below):

What It Means To Be in a Sellers’ Market | MyKCM

When the supply of houses for sale around Boston is

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Think Smarter with Nick

As we head into the spring market, Nick discusses how this year compares to years past in terms of the Boston real estate market. With housing inventory down over 25% nationally, it is a seller’s market in many areas. Nick gives tips for those looking to make a purchase during this time and also advises how sellers can best take advantage of this market.

According to the National Association of Realtors latest report, housing inventory across the country is down by 25.7% year-over-year. What are you seeing specifically in the Boston area?

We are really looking at two entirely different real estate markets when it comes to Boston vs. the suburbs.  In Boston, our condo inventory is actually up 32.85% YoY (as of 3.15.21) yet, in the suburbs,

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Is It a Good Time to Sell My House? | MyKCM

Last year, many homeowners thought twice about selling their houses due to the onset of the health crisis. This year, however, homeowners are beginning to regain their confidence when it comes to selling safely. The latest Home Purchase Sentiment Index (HPSI) by Fannie Mae shows that 57% of consumers believe now is a good time to sell.

Doug Duncan, Vice President and Chief Economist at Fannie Mae, explains:

“Overall, the index’s monthly increase was driven largely by a substantial jump in the share of consumers reporting that it’s a good time to sell a home, with many citing favorable mortgage rates, high home prices, and low housing inventory as their primary rationale.”

Normally, spring is the busiest season in the Boston housing

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