Monthly Archives: June 2014

196 Goden St, Belmont – Just Listed

Check out this home that we’ve just bought on the market this week. 196 Goden St, Belmont – Priced at $1,099,000 this 4 bedroom, 2.5 bathroom classic Tudor home is immaculate, and is bathed in natural light. The location is a dream. Walk to Belmont center, Wellington ES, Chenery MS, Belmont HS and many more. Imagine wandering to the town center on a warm summers night for an ice-cream!

Open House Sat/Sun (June 28/29) 1:00-3:00pm.

You can find more info at www.196Goden.com or if you’re on your smartphone mobile.196Goden.com

21 Albermarle St, Arlington – Just Listed

Check out this home that we’ve just bought on the market this week. 21 Albermarle St, Arlington – Priced at $359,000 this 2 bedroom, 1 bathroom Philadelphia style first floor condominium is light and airy and is on a quiet street in a wonderful community. This lovely home has a large entry foyer and an open floor plan, and is bathed with natural light throughout. Imagine relaxing in the shared backyard enjoying a cold drink on a hot summers day. Little Free Library out front. A short walk to Mass Ave shops, Ottoson MS and Arlington HS, and the Minuteman Bike path.

Open House Sat 11:30-1:00pm, Sun 3:00-4:00pm.

You can find more info at www.21Albermarle.com or if you’re on your smartphone mobile.21Albermarle.com

26 Hinckley St, Somerville – Sold in the First Weekend

Last weekend we put 26 Hinckley St, Somerville on the market. Priced at $509,000 for 3 bedroom, 2.5 bathroom and located in popular and vibrant Somerville. The home has been recently renovated and it showed; we expected lots of interest! Offers were reviewed on Monday and the property went under agreement. The price was substantially over the asking price of $509,000. It seems that the high demand for homes in Somerville that we saw in 2013 is continuing into 2014. Here’s the data for the last 12 months – the orange line is the ratio between list and sales price (a value of 100% means it sold for asking). The ratio is greater than 100% for the majority of 2013 – expect the same for 2014 as demand exceeds supply in this very popular town.

This high ratio is (of course) driving up prices as buyers compete for homes:

A wealth of information about Somerville as well as over 40 other towns (and a lot more information on buying/selling) can be found on our website www.mapropertiesonline.com (or if you’re on your smartphone – mobile.mapropertiesonline.com) and if you have any questions do not hesitate to contact us.

7 Solomon Pierce Rd, Lexington – Just Listed

Check out this home that we’ve just bought on the market this week. 7 Solomon Pierce Rd, Lexington – Priced at $1,750,000 this 5 bedroom, 3.5 bathroom home is located in popular and vibrant Lexington. This home defines the word elegant, and is gracious and inviting. The whole home is bathed in natural light. The location is a dream. Walk to Lexington center, Harrington ES, and the MinuteMan bike path. Coffee, or ice-cream anyone? Let’s go for a walk! Investigate the Pheasant Brook conservation area adjacent to your backyard!

Open House Sat/Sun (June 21/22) 1:00-3:00pm.

http://www.youtube.com/watch?v=UrBDwLqP0oE

You can find more info at www.7SolomonPierce.com or if you’re on your smartphone mobile.7SolomonPierce.com

26 Hinckley St, Somerville – Just Listed

Check out this home that we’ve just bought on the market this week. 26 Hinckley St, Somerville – Priced at $509,000 this 3 bedroom, 2.5 bathroom home is located in popular and vibrant Somerville. The home has been recently renovated and it shows! As you enter the front door you step into the living room. The floor plan is open with the living room, dining room and kitchen all connected, creating a spacious atmosphere.

Open House Sat (June 21) 2:30-4:00pm and Sun (June 22) 1:00-3:00pm.

http://www.youtube.com/watch?v=fgASyDPNxgI

You can find more info at www.26Hinckley.com or if you’re on your smartphone mobile.26Hinckley.com

24 Beech St, North Chelmsford – Just Listed

Check out this home that we’ve just bought on the market this week. 24 Beech St, North Chelmsford – priced at $419,000 this 4 bedroom, 3 bathroom home is located in a desirable part of North Chelmsford with easy access to all major traffic routes and the commuter rail. With curb appeal galore, his home stands out from all the rest, warm and inviting and you just feel ‘at home’ when you walk in the door.

Open House Sat/Sun 12:00pm-1:30pm

http://www.youtube.com/watch?v=4B0SlYM1jRw

You can find more info at www.24Beech.com or if you’re on your smartphone mobile.24Beech.com

86 Blossom St, Arlington – Sold in the First Weekend


Last weekend we put 86 blossom Rd, Arlington on the market. The home is immaculate throughout and priced at $629,000 for 5 bedrooms, 3.5 bathrooms, and is located in a wonderful community that is walking distance to Arlington center and Pierce Elementary School; we expected lots of interest! Offers were reviewed on Monday and the property went under agreement. The price was substantially over the asking price of $629,000. It seems that the high demand for homes in Arlington that we saw in 2013 is continuing into 2014. Here’s the data for the last 12 months – the orange line is the ratio between list and sales price (a value of 100% means it sold for asking). The ratio is greater than 100% for the majority of 2013 – expect the same for 2014 as demand exceeds supply in this very popular town.

This high ratio is (of course) driving up prices as buyers compete for homes:

A wealth of information about Arlington as well as over 40 other towns (and a lot more information on buying/selling) can be found on our website www.mapropertiesonline.com (or if you’re on your smartphone – mobile.mapropertiesonline.com) and if you have any questions do not hesitate to contact us.

86 Blossom St, Arlington – Just Listed

Check out this home that we’ve just bought on the market this week. 86 Blossom St, Arlington – priced at $629,000 this 5 bedroom, 2 bathroom home is in a wonderful community. How do you describe this home? Simply stunning. This home is an absolutely immaculate colonial in a desirable location of Arlington. With stunning curb appeal this home stands out from all the rest. Perfect for someone looking for a storybook, ‘picture perfect’ colonial home. Traditional floorplan with dining room and living room as you enter the front door. The pristine kitchen has stainless steel appliances, corian countertops, a breakfast bar, lots of cabinets and an area for informal dining. Sliding glass doors lead into the family room which is bathed in natural light, and another sliding door leads to the deck. Enjoy coffee and reading the paper on the back deck while enjoying your private lawn backyard, which adjoins the patio and is ready for the neighborhood game of soccer! You’ll find a bedroom on the 1st floor, and another 4 on the 2nd floor. 2 beautifully appointed tiled bathrooms, and finished spaces in the walkout lower level. What a lovely home! Make your memories here!

Open House Sat/Sun 1:00pm-3:00pm

http://www.youtube.com/watch?v=al8OudMx-X8

You can find more info at www.86Blossom.com or if you’re on your smartphone mobile.86Blossom.com

230 Arlington St, Acton – Just Listed

Check out this home that we’ve just bought on the market this week. 230 Arlington St, Acton – priced at $498,000 this 3 bedroom, 2.5 bathroom condominium is located in a desirable part of Acton, a short walk to the West Acton village and the commuter rail. With curb appeal galore, his home stands out from all the rest, and built in 2012 it can virtually be considered new construction. Perfect for someone looking for a modern, move in ready townhome.

Open House Sat/Sun 1:00pm-3:00pm

http://www.youtube.com/watch?v=A3UkgiZ3e5I

You can find more info at www.230Arlington.com or if you’re on your smartphone mobile.230Arlington.com

Offer Strategies – Part 2

The highly competitive ‘sellers market’ we saw in the popular towns in 2013 has continued in 2014, and has expanded to those towns where the commute is longer or the school district not as good. So, what does it take to be a successful buyer in today’s highly competitive housing market?

The Offer Price is clearly important but it’s just one factor that, when combined with inspection, appraisal and mortgage conditions, convinces the seller that they a getting a good price and that the transaction will move to closing quickly and smoothly – what economists might describe as minimizing transaction costs.

Let’s look at the various contingency (inspection, mortgage etc) strategies:

Inspection Contingency – the inspection contingency allows a buyer to exit the contract if issues are found during the house inspection. This is a major worry for sellers because buyers agents and buyers know that should a house come back on the market after just a few days, issues were identified at the inspection and they are often reluctant to look at the house again. There are a number of strategies buyers can take to mitigate this issue – they often involve accepting additional risk and so they should be carefully considered, and will differ based on the property condition. It’s therefore important to discuss the various options with your buyers agent or contact the MA Properties Online Team for further clarification.

Mortgage Contingency – the mortgage contingency allows a buyer to exit the contract if they are unable to secure financing for the property purchase. It is possible to waive this contingency – but care is required here. At this point in the process (after Purchase and Sale) the buyer has 5% of the offer price in escrow as a deposit. If, having waived the contingency, a buyer applies but fails to get a mortgage they may lose their deposit. Also, if the house fails to appraise for the offer price and the buyer does not have sufficient funds to makeup any shortfall they may also lose their deposit. It’s therefore important to discuss waiving the mortgage contingency with your buyers agent or contact the MA Properties Online Team.

Home Sale Contingency – if a buyer has to sell their existing home to buy the new home this will be noted in the mortgage pre-approval. Even in this ‘sellers market’ where homes that are priced and marketed well often sell in the first weekend; seller’s are very nervous about accepting offers from buyers who need to sell in order to buy their home. Read the newsletter ‘Timing a Buy and a Sell’ for details on strategies that can minimize this factor and guide you when to sell your existing home.

Letter to the Sellers – often dismissed by buyers as having little effect, they play an important part when price and other terms are equal. Selling a home is not simply an asset transfer, the asset is where major life events took place – children were born and grew up, holidays when families came to visit, and summer parties with friends in the back yard. We all have an attachment to the house we live in and would like others to have the same experiences. This is where the letter to the seller plays a part. Provide information on what you love about the house, your family situation and any other details you think the seller should know. It won’t make the difference if you are thousands off the highest offer, but if you two offers are close then it may make the difference.

Successful offers will have some combination of these different factors based on the buyers specific circumstances, risk acceptance and financial security. The seller’s situation also determines which offer they will accept. For example, a seller who already has an accepted offer on their new home will probably weigh the factors that govern the successful completion of the transaction (the various contingencies) higher than the offer price.

This is the second post in the series Offer Strategies – Part 1 covered offer prices and appraisals.

The details of this post came from The following newsletter How to Make your Offer Successful in a Competitive Situation (or if you’re on your smartphone – How to Make your Offer Successful in a Competitive Situation)

The MA Properties Online team produce a newsletter on a monthly basis on topic of interest to both buyers and sellers – to see a complete list visit www.mapropertiesonline.com (or if you’re on your smartphone – mobile.mapropertiesonline.com) and look under the Newsletters tab.

If you have a real estate topic that you think needs more explanation please email me at Marcus Collins and we’ll look into writing a newsletter on the topic in the very near future.

The MA Properties Online tagline is “A Data Driven approach to real estate” and so for information on over 40 towns (and a lot more information on buying/selling) look at our website www.mapropertiesonline.com (or if you’re on your smartphone – mobile.mapropertiesonline.com) and if you have any questions do not hesitate to contact us on (617) 997 9145, or email at Dani.Fleming@MAPropertiesOnline.com.