Boston Market Statistics for the Week of 06/14/13

Presenting you with your bi-monthly market stats for the Greater Boston area single family homes...

For single family Boston properties in zip code 02116 there was a total of 53 homes listed as of June 14th.   With an average of 2,806 square feet and 2.98 bedrooms, the median list price comes out to $1,050,000. 7 of the 53 homes were actually newly listed. Finally, with an average of 92 days on the market.

Presenting you with your bi-monthly market stats for the Greater Boston area condos...

The numbers for Boston condos in zip code 02116 are promising. The median listing price was at $1,695,000 at a total inventory of 65. The average condo size is currently sitting at 1,942 square feet, along with an average of 2.39 bedrooms and 2.29 bathrooms. With an average of 153 days on the market, 8 of the 65 condos were absorbed.

Data and charts are based on the last 2 weeks, but are current to the day.  I have the ability to focus on different zip codes in the Boston area.  Please contact me with whatever your area of interest is; 02116,02118, 02129 and I will be glad to help you, just let me know!

 Data provided by ©2013 Altos Research LLC

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com
Patti Fine Real Estate
Greater Boston Area Homes
Search Greater Boston Area Homes

Your Father’s Day Guide for Boston, MA!

Father’s Day is coming up this weekend in Boston, MA! Do you have plans? Father’s Day is a great summer weekend for grilling, swimming and watching the Boston Bruins play for the Stanley Cup! But if you’re looking for something specific to do around the Boston area, as your Boston real estate agent, I’ve put together a guide for you!

Is your dad not the grilling type? Bring him to one of Boston, MA’s finest restaurants, each offering a unique special for Father’s Day. Options include:

·        The Beehive on Boston’s South End. They’re offering a Father’s Day Brunch from 10 a.m. to 3 p.m., include skirt steak, eggs and frites, prime burger with frites and slaw, short rib and so much more. That night at the Beehive, from 8 p.m. to midnight, enjoy live music from the all-star house blues band! Reservations are highly recommended. 

·        UpStairs on the Square in Cambridge. They are featuring an outdoor garden grill on Sunday, with Father’s Day specials starting at 5 p.m. Included is woodfire-grilled NY strip, lobster, mahi mahi, clam chowder and more! They also have a Sunday brunch. Make reservations by calling or visiting their website! 

 

·        Fleming’s Prime Steakhouse & Wine Bar in Boston. This is a win-win, because when you dine at Fleming’s on Father’s Day, dad also gets a $25 gift card to use on a future visit! The chef has created a three-course brunch menu for $36.95 from 11:30 a.m. to 3 p.m. Regular menus are also available. 

 

To view more restaurant specials on Father’s Day, check out this article.

 

Does your dad love history? Take him to the annual Bunker Hill Parade Sunday morning, which marks the anniversary of the Battle of Bunker Hill! The route travels all around Charlestown, beginning at Vine and Bunker Hill Street and traveling down Main Street. It begins at 12:30 p.m. Enjoy reenactments, music and patriotism while indulging in slushes, ice cream and cotton candy. 

 

Dads get free admission to Franklin Park Zoo on Sunday from 10 a.m. to 6 p.m. The whole family can enjoy checking out animal families and animal dads while enjoying music from Magic 106.7 from noon to 2 p.m. and a performance by singer/songwriter Marcie at 10:30 a.m. 

Dads also get into deCordova Sculpture Park and Museum for free on Sunday, starting at 10 a.m. This park and museum encompasses 30 acres, just 20 miles northwest of Boston, MA. There is plenty of sculptures and New England scenery for the whole family to enjoy!

No matter what you decide to do, I hope you and the dad in your life enjoy a beautiful weekend here in Boston, MA.

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com
Patti Fine Real Estate
Greater Boston Area Homes
Search Greater Boston Area Homes

Boston Market Statistics for the Week of 05/31/2013

Presenting you with your bi-monthly market stats for the Greater Boston area single family homes...

For single family Boston properties there was a total of 385 homes listed as of May 31st.   With an average of 2,425 square feet and 3.06 bedrooms, the median list price comes out to $499,900. 14 of the 385 homes were actually newly listed. Finally, with an average of 82 days on the market.

Presenting you with your bi-monthly market stats for the Greater Boston area condos...

The numbers for Boston condos are promising. The median listing price was at $599,000 at a total inventory of 443. The average condo size is currently sitting at 1,764 square feet, along with an average of 2.74 bedrooms and 2.09 bathrooms. With an average of 161 days on the market, 37 of the 443 condos were absorbed.

Data and charts are based on the last 2 weeks, but are current to the day.

 Data provided by ©2013 Altos Research LLC

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com
Patti Fine Real Estate
Greater Boston Area Homes
Search Greater Boston Area Homes

It’s Prime Time to Sell Your Boston, MA Home!

As your Boston real estate agent, it’s my job to keep you in the loop with current real estate news. This week, the latest Case-Shiller index was released for the month of March. Great news! On average, U.S. home prices rose 10.9 percent in March, when compared to March of last year. This is huge!

All 20 cities tracked by Case-Shiller saw price increases, with Boston, MA prices rising 6.7 percent. These numbers are higher than expected, with the biggest jump seen in seven years! So if you’d like to sell your Boston home in the near future, but you haven’t yet, what are you waiting for?

Allow me to explain in more detail why now is the ideal time to sell your Boston home:

• Home prices rose, as explained above, meaning that if you sell now, you’ll receive much higher offers from potential homebuyers than you would have a year ago. That's the best news a Boston home seller could ask for!

• Housing inventory is still low. There aren’t too many houses on the Boston real estate market right now, which means if yours is, it’s going to get a lot of attention from buyers! Many Boston home sellers receive numerous offers, allowing them to raise the asking price to a level that satisfies them.

• Home sales are also up. Even though inventory is low, Boston homebuyers are eager to buy while  mortgage rates are still low. If you put your house on the Boston real estate market, it’s nearly guaranteed that it’ll sell fast.

• Homes are selling fast. Half of the homes sold in April were on the market for an average of 46 days, down from 62 in March and 83 one year ago, according to the National Association of Realtors! A whopping 20 percent of houses went under contract in just one week in April, and one-third were sold within two weeks. If you want or need to move fast, now is the time to do it.

• Your golden opportunity will slip away if you wait. Inventory is still low, but it is increasing. According to the Wall Street Journal, it increased 11.9 percent in April from March. Also, new home sales recently skyrocketed. This means that with new homes and more inventory comes more competition and less interest in your home.

Hopefully, as your Boston real estate agent, I’ve made it clear what a fantastic time it is for you to sell your Boston home! When you’re ready, contact me. Together, we’ll get it sold in nothing flat!  

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com
Patti Fine Real Estate
Greater Boston Area Homes
Search Greater Boston Area Homes

Boston Market Statistics for the Week of 05/17/2013

Presenting you with your bi-monthly market stats for the Greater Boston area single family homes...

For single family Boston properties there was a total of 391 homes listed as of May 17th.   With an average of 2,326 square feet and 3.04 bedrooms, the median list price comes out to $499,000. 32 of the 391 homes were actually newly listed. Finally, with an average of 81 days on the market.

Presenting you with your bi-monthly market stats for the Greater Boston area condos...

The numbers for Boston condos are promising. The median listing price was at $559,000 at a total inventory of 573. The average condo size is currently sitting at 1,613 square feet, along with an average of 2.62 bedrooms and 1.98 bathrooms. With an average of 148 days on the market, 78 of the 573 condos were absorbed.

Data and charts are based on the last 2 weeks, but are current to the day.

 Data provided by ©2013 Altos Research LLC

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com
Patti Fine Real Estate
Greater Boston Area Homes
Search Greater Boston Area Homes

Tips for Buying A Boston Home In a Tight Market

It’s no secret that the Boston real estate market is tight for Boston homebuyers right now. Home prices are rising and many Boston home sellers are holding out. At the same time, buyer demand is high because mortgage rates are still near historic rates. 

How can you ensure a successful home purchase in a market with limited availability? Here, I’ve laid out a few rules to follow. In any case, contact me, your Boston real estate agent. This is not a time to be going it alone! 

1.  Find out how much you can afford in a home. This step is vital, and you should do it before you even start your home search. Look over your revenue and expenses and find out how much money you have to work with. 

·         How much do you have saved up for a down payment?

·         How much income do you have to work with monthly for mortgage payments?

·         How much will you have left for your homeowner’s insurance and property tax expenses?

·         How much will you have left for electric, water and energy bills?

The cost of a home is about more than your initial payment and your monthly mortgage. Also, if something goes wrong with the house, you need to pay for it, such as a new water heater, furnace, lawn mower or roof repairs. You really need to have a good idea of how much you have to work with and what you can really afford.

2.  Apply for a mortgage loan. Getting pre-approved for a mortgage is one of the best first steps you can take as a Boston homebuyer. When Boston home sellers receive multiple offers, it’s common for them to not even consider a buyer who isn’t pre-approved. Plus, this will help you determine what your price range is, so we can narrow your search.

3.  Stay current and knowledgeable about the Boston real estate market. It’s important to know what homes in your price range are being listed for and what they’re selling for, and how fast. This will help you determine how fast you need to make an offer and a ballpark figure of how much. Of course, having a Boston real estate agent will help a lot with this information! 

4.  Remain patient. There is a good chance that once you begin your home search, you might find a home you love that you need to bid for. You might lose. Don’t become discouraged. In a seller’s market, it might take some time for you to both find a home you love and have your offer accepted by the seller. As your Boston real estate agent, I’m here to help!

5.  Remember what you can afford. It’d be easy to get agitated and make an offer that is out of your league, or to purchase a house that needs a lot of repairs. It’s important to stick with what you need, what you want and what you can afford. This will be your home for many years to come, you have to love it and not regret it down the road!

As your Boston real estate agent, I am here for you every step of the way, as a book of knowledge and experience, as an advocate, and as a support system. Contact me with questions or to get started in the home-buying process!

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com
Patti Fine Real Estate
Greater Boston Area Homes
Search Greater Boston Area Homes