Massachusetts Home Buyer Guide

Brookline, Massachusetts Single-family Home Sales Increase, Median Price Decreases 2010

Sales of single-family homes in Brookline, Massachusetts increased in 2010 while the median home price decreased, according to data compiled using MLS Property Information Network, Inc, the local multiple listing service. 

Single-family homes sales in Brookline, MA increased 8.8 percent in 2010, a difference of 11 sales compared to 2009. The median price of single-family homes dropped 5.6 percent in 2010 ($1,156,750) compared to the previous year, a $68,250 difference. 

The median price of condominiums increased 2.9 percent, or $13,000 compared to 2009. Condo sales in Brookline, MA dropped 2.6 percent in 2010, a difference of 13 sales. 

Both sales and the median price of multi-family homes increased in 2010. Sales rose 11.1 percent compared to 2009, a difference of two sales, while the median price rose 29.2 percent, a difference of $263,000. 

Brookline, Massachusetts Home Sales 

               Sales / Median Price 

Single-family Homes
2009 – 125 / $1,225,000 
2010 – 136 / $1,156,750 

Condominiums 
2009 – 506 / $455,000 
2010 – 493 / $468,000 

Multi-family Homes
2009 – 18 / $899,500 
2010 – 20 / $1,162,500 

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U.S. New-home Sales Increase in March 2011, But Sales Still Near Record Lows

Although U.S. new-home sales increased in March 2011 compared to the previous month, it was the fewest March sales since data has been recorded, The New York Times reported April 25, 2011.

New-home contracts in March 2011 were up 11 percent compared to February numbers; however, February sales were the lowest of any month since records were first kept in 1963.  New-home sales were down 21.9 percent in March 2011 compared to March of 2010. Contracts were signed by home buyers at a seasonally adjusted rate of 300,000, down from 384,000 in March 2010, according to the Census Bureau. 

At the height of the real estate market in March 2005, new-home sales hit an annual rate of 1.43 million homes.

Mass. Home Sales, Prices Decline March 2011

Massachusetts single-family home sales declined 14.4 percent in March compared to March 2010, The Boston Globe reported April 29, 2011.

Single-family home sales declined more than 8 percent in the first quarter.

The Warren Group, a Boston-based publisher of real estate information, tracked the housing data.

The median price for single-family homes declined 2.8 percent in March ($267,250) compared to the same period last year. The median sales price in the first quarter stood at $265,0000, a 4 percent fall from the first quarter of 2010.

Condominium sales declined 23.5 percent in March compared to March 2010 (1,296 units sold in March 2010; 991 units sold in March 2011), the Massachusetts Association of REALTORS® reported April 28, 2011. The median price of a condo in Massachusetts dropped 8.4 percent from March 2010 ($256,000 in March 2010 compared to $234,500 in March 2011).

Condo sales declined 23.3 percent in the first quarter. The median price in Q1 2011 dropped 5 percent compared to the first quarter of 2010.

According to data released April 26, 2011 by the S&P/Case-Shiller Home Price Index, which measures repeat home sales across the United States, Greater Boston Area home values dropped by about 1.5 percent in February compared with the month before, a slightly steeper decline than the 1.1 percent fall seen in the top 20 metro markets tracked by the index.

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Plymouth, Massachusetts Single-family Home Sales Decrease, Prices Stabilize in 2010

Sales of single-family homes in Plymouth, Massachusetts decreased in 2010 while the median home price stabilized, according to data compiled using MLS Property Information Network, Inc, the local multiple listing service. 

Single-family homes sales in Plymouth, MA decreased 9.1 percent in 2010, a difference of 46 sales compared to 2009. The median price of single-family homes remained flat, rising 0.2 percent in 2010 compared to the previous year, a $500 difference. 

The median price of condominiums also remained mostly flat, falling only 1.1 percent, or $2,500, compared to 2009. Condo sales in Plymouth, MA rose 11.8 percent in 2010, an increase of 12 sales. 

Both sales and the median price of multi-family homes increased in 2010. Sales rose 15.4 percent compared to 2009, a difference of two sales, while the median price rose 17.5 percent, a difference of $47,000. 

Plymouth, Massachusetts 

              Sales / Median Price 

Single-family Homes
2009 – 503 / $281,000 
2010 – 457 / $281,500 

Condominiums 
2009 – 102 / $225,000 
2010 – 114 / $222,500 

Multi-family Homes
2009 – 13 / $268,000 
2010 – 15 / $315,000 

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MA Program to Encourage Solar Power

In an effort to boost implementation of solar power among residents and businesses, the Massachusetts Clean Energy Center (CEC) launched the “Solarize Massachusetts” program, which will target four towns in the Bay State, the Boston Business Journal reported April 20, 2011.

Through a localized marketing campaign the CEC hopes to educate community members in Harvard, Hatfield, Scituate and Winchester on solar energy.

The CEC will partner with solar integrators in each community to provide solar education, installation and financing for community members. The CEC plans on creating a bulk-purchasing model with the integrators that would cut costs for consumers when more installations take place within the community.

The state is accepting proposals from solar integrators through May 13, 2011.

Newburyport, MA Home Sales, Prices Increase in 2010

The median price and sales of single-family homes and condominiums in Newburyport, Massachusetts increased in 2010, according to data compiled using MLS Property Information Network, Inc, the local multiple listing service.

The median price of single-family homes in Newburyport, MA rose 6.3 percent in 2010 compared to 2009, a $25,000 difference. Single-family home sales increased 20.2 percent in 2010, a difference of 25 sales compared to the previous year.

The condominium median price in Newburyport increased in 2010, rising 10.3 percent, or $30,000 compared to 2009. Condominium sales increased 14.8 percent compared to 2009, a difference of 13 sales.  

The median price of multi-family homes decreased 5.9 percent compared to 2009, a difference of $25,000. Multi-family home sales remained flat, with one more sale in 2010 than in 2009.

Newburyport, Massachusetts

               Sales / Median Price

Single-family Homes

2009 – 124 / $400,000
2010 – 149 / $425,000

Condominiums

2009 – 88 / $292,500
2010 – 101 / $322,500

Multi-family Homes

2009 – 11 / $425,000
2010 – 12 / $400,000

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Is Purchasing a Home Still a Good Investment?

Banker & Tradesman’s “Housing Scene” blog recently reported that regardless of the current weak market, consumers still believe that purchasing a home is the best long-term investment, according to a Paw Research Center study.    

According to the study, 81 percent of consumers believe that owning a home is the best long-term investment that can be made (37 percent “strongly agree” while 44 percent “somewhat agree”).

“Confidence at any level these days is notable, given that the housing market is mired in the longest and deepest decline in modern American history,” read the report.  

Of the homeowners in the study, 47 percent believe that their homes are worth less than they were before the housing bubble burst. Of those homeowners, 86 percent believe it will take at least three years for prices to recover, and 10 percent said it would take more than 10 years.

U.S. Housing Starts Up March 2011, Market Still Weak

U.S. home construction in March increased 7.2 percent compared to February, a six-month high, The New York Times reported April 19, 2011.

Housing starts were at a seasonally adjusted rate of 549,000 units per year, which was still far below the 1.2 million–unit rate that is considered healthy. Building permits jumped 11.2 percent from the previous month, although that is compared to a five-decade low in February.

Home building levels are still far below where they were during the height of the market in 2006. In March, the number of homes finished and ready to sell declined to a seasonally adjusted rate of 509,000 units, the lowest it has been since 1968. The number of homes currently under construction remains at a four-decade low.

Andover, Massachusetts Home Sales Increased, Median Price Declined in 2010

Sales of single-family homes in Andover, Massachusetts increased in 2010 while the median home price decreased slightly, according to data compiled using MLS Property Information Network, Inc, the local multiple listing service.

Single-family homes sales in Andover, MA increased 13.1 percent in 2010, a difference of 33 sales compared to 2009. The median price of single-family homes dropped 0.7 percent in 2010 compared to the previous year, a $3,500 difference.

The median price of condominiums increased 23.7percent, or $45,100 compared to 2009. Condo sales in Andover, MA dropped 12.3 percent in 2010, a difference of 9 sales.

Both sales and the median price of multi-family homes increased in 2010. Sales rose 20 percent compared to 2009, a difference of only one sale, while the median price rose 7 percent, a difference of $23,000.

Andover, Massachusetts Home Sales

          Sales / Median Price

Single-family Homes
2009 – 251 / $525,000
2010 – 284 / $521,500

Condominiums
2009 – 73 / $189,900
2010 – 64 / $235,000

Multi-family Homes
2009 – 5 / $327,000
2010 – 6 / $350,000

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Boston Area Home Prices Rise in February

Contrary to national trends, Greater Boston Area home prices increased for the second-consecutive month in February, rising 4.6 percent on a year-over-year basis, according to a pricing analysis report by CoreLogic, the Boston Business Journal reported April 7, 2011.

February’s price increase, which included distressed home sales in the Boston-Quincy metropolitan area, followed January’s price increase of 5.54 percent compared to January 2010. Excluding distressed sales, which include short sales and real estate owned (bank owned) transactions, Greater Boston Area home prices rose 3.11 percent in February and 2.95 percent in January.

Nationally, home prices declined 6.7 percent in February. Excluding distressed sales, prices dropped 0.1 percent.

CoreLogic is a real estate research and services firm based in California.

U.S. High-end Home Sales Increase 2010

In 2010, sales of million-dollar houses and condominiums increased on average 18.6 percent in all 20 U.S. major metro areas recorded by DataQuick Information Systems, reported CNNMoney March 7, 2011.

After four straight years of decline, high-end home sales took off in 2010 across the nation. Some of the largest jumps in high-end sales were seen in San Jose, California where sales increased 27.4 percent last year compared to 2009, and in New York City where sales jumped roughly 25 percent.

While stock values have risen since 2009, so has the confidence of the wealthy and thus sales of high-end homes. Wealthy individuals are taking advantage of the historically low prices and mortgage rates in today’s market.

U.S. Home Prices Decline January 2011

Residential real estate prices declined in January by the most in more than a year, an indication that the U.S. housing market isn't making a comeback just yet, according to the S&P/Case-Shiller Home Price Index.

The index of property values in 20 cities fell 3.1 percent compared to January 2010, the biggest year-over-year decrease since December 2009.

Rising foreclosures are increasing the number of houses on the market, which may put additional pressure on prices in coming months. At the same time, a further decline in home values may keep potential buyers on the sidelines as they foresee better deals down the road; however, such thinking may be a big mistake. Mortgage interest rates are low today, but may be significantly higher in 12 months. Any benefit in price may be offset by the cost of borrowing.

Eighteen of the 20 cities in the index showed a year-over-year decline, led by a 9.1 percent drop in Phoenix. In January, prices in 11 markets dropped to new lows from their 2006, 2007 peaks, the same number as in December.

Washington showed the biggest year-over-year increase, with prices increasing 3.6 percent.

The 20-city composite index has fallen 31.8 percent from its peak in June and July 2006.

Don't Ingore Your Gutters

When your gutters are free of dirt, debris and leaves, water flows away from your house and reduces the chance of leaks to your roof and walls. Properly functioning gutters also keeps water away from your foundation.

Even if you don't have trees near your home, you might be surprised at the amount of dirt and debris building up in your gutters.

The following video explains how to clean gutters yourself, but there are companies that will take care of your gutter cleaning for a reasonable price. I just had my gutters cleaned in the fall, and was please with the outcome, so don't hesitate to contact me for a referral.

 

What You Should Know About Landscape Architects

The design and functionality of your outdoor space can be as important as the inside of your home. 

In the eyes of a landscape architect the exterior of the home is not simply the plot of land on which your home sits, but an extension of your home. The outdoor space in which people live, work or play, should be tailored to compliment the design and feel of the home and at the same time achieve harmony with the surrounding environment. 

Landscape architects help design and construct areas as small as private gardens to as large as full cities. Their knowledge of the environment, design process, engineering principles, soil science and construction practices allows landscape architects to shape and protect the outdoor environment and best accommodate all of its inhabitants while maintaining a high quality of life.

Many homeowners choose to consult a landscape architect when stumbling upon unusual issues that need to be resolved, such as issues with drainage, grading, or wind considerations. In addition, many people turn to a landscape architect to help maximize potential by finding aesthetic and practical solutions for projects such as outdoor pool areas, specialized gardens, terraces, parking and walkways.

Landscape architects must be licensed in Massachusetts, and their practices are regulated by the Board of Registration of Landscape Architects. You also can find information about landscape architects on the American Society of Landscape Architects Web site.

The following three-minute video from HGTV should give you some inspiration.