Don’t Move to Boston, Massachusetts

So you are thinking about moving to Boston. Well wait just a moment… It may not be all that it is cracked up to be! It's hard to believe, but there are some negatives to this world class city. Especially if you are coming from an area that is not as…. We will go with prestigious!

Take it from me as I was not born and raised here… There is a little bit of a culture shock, so I want you to know some of the negatives of our fair city ahead of time. This way you can be well prepared!

Hey, it’s Jeff Chubb. I am a recovering investment banker turned real estate agent that has sold more than a 1,000 (One Thousand) homes and am one of the top agents in the state of Massachusetts. If you have any real estate questions, then I look forward to being your resource for answers.

As I mentioned, I will be covering some of the most negative items about moving to Boston and I will tell you what… There are some good ones in here. But we are going to start out with the Weather of course.

Weather: You say you are from Boston to someone in pretty much any area that is South of us… And they look back at you with puppy dog sorrowful eyes saying something along the lines of, “oh, it’s cold up there”. We have these things called the seasons in Boston. We get them all. Spring, Summer, Fall and the yes… the Winter. There are some days that you will wake up and leave the house in a jacket to only be wishing you had shorts on by the afternoon and to then be complaining how cold it is by dinner time… But then there are the days that are just pure perfection.

Yes. We get snow. No, it’s not as much as you think. It’s true. Some years are worse than others, Personally, I like the snow. Not the 10 feet of snow and I can’t stand the 1-inch snowstorms... But it’s pretty and it can be fun.

Plus, without experiencing...

Quincy, MA

Quincy and that is pronounced QUIN ‘ZEE’ is a city south of Boston with over 101,000 residents. The City of Presidents is located in Norfolk County and is the seventh largest city in the state. In this video we are going to unpack all of Quincy from talking about the history to what it is like today. We are going to go over the neighborhoods, schools and things to do for recreation which include beaches and parks. We will even talk about some things to do around Quincy.

It is called the City of Presidents because it is the birthplace of two U.S Presidents – John Adams and his son, John Quincy Adams. John Hancock who was the President of the Continental Congress and the first signer of the Declaration of Independence was also from Quincy.

Quincy was part of Dorchester then a precinct of Braintree and then finally became its own town in 1792 and would graduate to being a city in 1888. Quincy was home to a thriving granite industry and was the site of the Granite Railway that was the first commercial railroad in the U.S. Fun fact, the granite used at the Bunker Hill Monument was granite from Quincy! Quincy was also known for their Shipbuilding and more recently contributed to our current world with the founding of Howard Johnson’s and most importantly for all the Coffee Drinkers… Dunkin Donuts. Yes… That is right, Quincy was the first city to run on Dunkin.

Quincy shares borders with Boston to the North and is separated by the Neponset River. Milton is to the west of Quincy with Randolph and Braintree to the South. Weymouth which is separated by the Fore River is to the East. If you were to look over the Quincy and Hingham Bay, then you would be looking at Hull.

We have a lot on deck including Schools, beaches, parks and commuting...

The 5 Best & Worst Performing Boston Neighborhoods During the Market Crash

If history really is the best indicator of the future, then it makes a lot of sense to know exactly what and how much happened. For those who are thinking there is going to be a market crash, then this would be some very important and telling information for you.

And for those that are thinking about making a move and are worried about a market correction, then buying in some more insulated markets in the past may be a wise investment decision. And those that are looking to make an investment and are hoping to find some opportunities for possible big returns then that means looking at past markets with big losses would be very informative.

Hey, it’s Jeff Chubb. I am a recovering investment banker turned real estate agent that has sold more then a 1,000 homes and am one of the top agents in the state of Massachusetts. If you have any real estate questions, then I look forward to being your resource for answers.

Let’s start with the best performing neighborhoods in Boston. But first one very interesting thing I noticed is that in many of these neighborhoods the peaks and low points for market pricing were during different years. Amazingly one market peaked in 2010 to have two down years then a HUGE rebound in 2013. While the peaks were all over the place, most neighborhoods hit their bottom in 2009.

Also, as a quick heads up, I used all sales for Single Family, Condos and Multi-Family properties for these data figures. I felt this was a more fair analysis as there are significantly more condos in the Back Bay with very few Single Families and vice versa for West Roxbury.

So on to the top 5 performers.

The number five best performer was the Brighton neighborhood. Property values peaked in Brighton with an average sales price of $364k while finding their bottom in 2009 with an average sales price of $331k. This represents a 9.33% decrease...

Is the Luxury Market in Massachusetts Crashing?

Check out this recent article on Yahoo! Money that a friend of mine sent me asking for my commentary on… Luxury home sales plunge as mortgage rates rise.

“It says that affluent homebuyers aren’t immune from this year’s rough housing market”. And that “Sales of luxury homes plummeted 28.1% year over year in the summer months”.

I have said it once, so it only makes sense that I will say it again… REAL ESTATE IS LOCAL. So let’s jump into the Massachusetts housing numbers and see if that article really holds water here in the Bay State.

Hi, it’s Jeff Chubb. I am a recovering investment banker turned Real Estate Agent that has sold more then a 1,000 homes and is one of the state’s top real estate agents. I believe in data rather then feelings… So here is the data!

To the end of August in 2022 we have had 33,640 homes sold in the state. This is compared to the 38,023 houses that we saw in the same time period of 2021. This means that sales are down by 11.5% in the state year over year. Okay, so there is our baseline.

Let’s take a look at the different price ranges.

In the up to $400,000 price range we have seen a 30.88% decrease in sales year over year. We had 6,572 units sold in the first 8 months of 2022 vs the 7,195 units sold in the same time period of 2021. Now, let’s add a little caveat to this price range. The average sales price in the state of Massachusetts for a Single-family home was $531,000 for the first 8 months of the year in 2021. This is compared to the median of $585,000 in the same time period of 2022. For those keeping track at home, that...

The Top 10 Markets that Could See a Price Correction

I am on the record saying that I do not believe that the state of Massachusetts as a whole will see a housing crash with severe price corrections. I am also on record saying that I do believe some towns in our market have more potential for a minor price correction than others.

I have been repeatedly asked which towns in Massachusetts are the most likely to see some sort of pricing correction and because I didn’t have any data… I was always reluctant to provide any answers. Well, that changes today! This is a data driven analysis. No back handed feelings helping drive up or down a specific market. And there were towns that I personally deep down feel like should be on this list… But the data says otherwise.

So, what specific data metrics did I look at? The first metric that I wanted to look at were the markets with the largest appreciation gains since 2019. I disqualified any towns that had less then 50 sales as I felt that was not enough sales data with one or two outliers being to easily able to skew the data one way or another. .

It is my belief that the towns that had the largest gains would most likely be the ones that give it back. For example, the #1 town on the list has seen nearly a 59% increase in the average sales price since 2019. That is nearly 15% per year. But the 20^th town on the list had a little over a 65% increase in sales prices. So, what gives?

I channeled my investment banking days when I traded mortgages to come up with these calculations and this list. When evaluating risk on a pool of mortgages, we would look at certain obvious characteristics like average down payment percentage, average FICO scores and asset concentration. But another area of very specific importance was second homes and investment property concentration. We...

Is there going to be a Real Estate Market Crash?

Is there going to be a real estate crash in Massachusetts like we saw in 2008? Time will tell, but let’s look at the data so we can make an educated prediction about the future of our real estate market rather then just throwing around guesses while relying on national data.

Hey, it’s Jeff Chubb with the Chubb Homes Team. If you have any questions about your own specific situation or are thinking about buying or selling a house, then you can find my information in the description below. Love talking real estate and would love to talk to you friend to friend about your goals. You can also schedule a time to talk with me at: BookChubb.com

The most important thing to remember when it comes to real estate is that real estate is local. What is going on here in Massachusetts is different then what is going on in California. And what is going on in specific markets within our state are going to be different as well. So, for example, what is going on in Brockton Homes For Sale may just be a lot different then what is going on in Cohasset Homes For Sale.

To figure out where we are headed, let’s first take a look at the past. Specifically, data on the 2008 real estate crash. The Average home sale price in Massachusetts in 2005 was $434,095. It would dip slightly in 2006 to $430k then go up slightly in 2007 to a hair under $432k to hit its low point in 2009 at $359,443 to rebound in 2010 with an average sale price of about $381k. So that would be a little more then 17% drop in home prices from the peak in 2005 to the low in 2009.

...

Quincy and that is pronounced QUIN ‘ZEE’ is a city south of Boston with over 101,000 residents. The City of Presidents is located in Norfolk County and is the seventh largest city in the state. In this post we are going to unpack all of Quincy from talking about Quincy history to what it is like today. We are going to go over Quincy neighborhoods, Quincy schools and things to do in Quincy for recreation which include beaches and parks. 

It is called the City of Presidents because it is the birthplace of two U.S Presidents – John Adams and his son, John Quincy Adams. John Hancock who was the President of the Continental Congress and the first signer of the Declaration of Independence was also from Quincy.

Quincy was part of Dorchester then a precinct of Braintree and then finally became its own town in 1792 and would graduate to being a city in 1888. Quincy was home to a thriving granite industry and was the site of the Granite Railway that was the first commercial railroad in the U.S. Fun fact, the granite used at the Bunker Hill Monument was granite from Quincy! Quincy was also known for their Shipbuilding and more recently contributed to our current world with the founding of Howard Johnson’s and most importantly for all the Coffee Drinkers… Dunkin Donuts. Yes… That is right, Quincy was the first city to run on Dunkin. (More about Quincy Below the homes for sale)

Week of October 31, 2022

Recap of Video:
- Single Family & Condo data for the month of October as well as the week leading up to October 31, 2022. What? Inventory went down?
- Interest rates... More of the same, but a big two weeks ahead.
- Home prices have gone down in Massachusetts? Yes. But no. 

Single Family Market Data Week over Week
- Single Family inventory in Massachusetts on 10/31 was 5,417 homes available to buyers. Year over year, buyers have 1,184 more homes available.
- 957 Single Family homes came on the market this week! The average weekly new listings in September & October was 1,046.
- 1,095 Single Family homes went under agreement with 1,112 Single Families selling for an average price of $681k and a Median Price of $545k.
- Months of Inventory increased to 1.51 months from 1.49 months last week. This signals a Very Strong Seller's Market (which is a misleading and I talk about in the video update). 

Condo Market Data Week over Week 
- Condo inventory in Massachusetts on 10/31 was 2,779 condos available to buyers. Inventory growth has become very stable with us nearly equaling the inventory levels at the same time last year. 
- 416 Condos came on the market this week. Above the average in September & October when 485 condos on average came on the market per week.  
- 406 Condos went under agreement with 460 Condos selling for an average price of $614k and a Median Price of $499,450.
- Months of Inventory increased to 2.13 months this week compared to 2.23 months last week. This market is a LOT softer then this indicator would lead us to believe. 

Mortgage Market News &...

Worst Thing to Do When Missing a Mortgage Payment

This game called life can sometimes lead to some challenging times where we may fall behind on our bills and make a late mortgage payment. This could be by accident or by circumstance. It’s important to understand the different stages of a late mortgage payment before talking about the worst thing that you can do if this should happen to you… Because you may just be in a grace period and not even know it!

Hey, it’s Jeff Chubb. Welcome to the channel. To learn more about real estate and your options should you be behind on your mortgage, then don’t forget to click the subscribe and like button below. And if you want to talk Real Estate friend to friend… And confidentially might I add, then find my info in the description below!

Most people think that they are late on their mortgage on the second of the month. This is incorrect. Banks give you a 15 day grace period. Essentially there is no penalty for making a payment up until the 15^th of each month. And as a heads up, the bank needs to be in receipt of the payment. You can’t have put it in the mail on the 14^th.

On day 16 through 30 Days is when a borrower will normally incur a late charge. This fee is usually between 4 and 5% of your monthly payment. So if your payment is $2,000 then expect a fee of $100.

30 Days late is when the lender will report your late payment to the credit bureaus. This will negatively affect your credit score and will make it more difficult to borrow money whether that be for a new car, new couch or even to refinance.

At 45 Days late, the lender is required to assign someone to your case to inform you of your options. I talk about these options in the video above and will have the video at the end of this video as well.

60 Days late is when the compounding affect really starts adding up as they will charge you for a second late fee plus the additional mortgage...

Welcome to Flagship Wharf, a 10-story luxury brick condo building with 201 luxury residences, a 516- car garage and 34,000 square feet of commercial space. Flagship Wharf was built in 1989 and is considered one of Boston’s most prestigious buildings which offers its residents many different amenities such as valet parking, a state-of-the-art fitness center and lending library. And then there is it’s amazing location which we are going to talk more about momentarily.

Hey, it’s Jeff Chubb. Welcome to the channel. To learn more about real estate then don’t forget to click the subscribe and like button below. And if you are thinking about making a move in and around Boston and want to talk Real Estate friend to friend… Then find my info in the description below!

Flagship Wharf is located in the Navy Yard which is a neighborhood in Charlestown. The Charlestown Navy Yard was actually one of the original six yards that formed to support the US Navy and was one of the oldest ship building facilities for the military branch. Today the Navy Yard has been transformed to a residential community that attracts thousands of tourists while offering lavish apartments, condos and townhouses with awe inspiring waterfront views. (More about Flagship Wharf and the Navy Yard Below)

Moving to Boston Suburbs:  Peabody, MA

Moving to the Boston Suburbs and getting to know Peabody, the suburb located on the North Shore. In this video, we will talk about the different areas that make up Peabody and what this great town has to offer from restaurants to schools to greenspace. It’s all here!

Peabody is a town of a little under 55,000 residents according to the last census. Peabody has come a long way from its start as a farming community. Today it is a vibrant community which consists of the regions largest shopping mall, and industrial park that has attracted numerous medical and technology companies. Residents of Peabody will be quick to point out that Peabody is divided between West Peabody, South Peabody and Downtown Peabody. Downtown Peabody is kind of obvious… It’s their downtown and is actually located within close proximity to Salem. West Peabody has mostly become known as a middle to upper class suburb. It is here that you will find Brooksby Farm which is a 275-acre working farm and conservation area that has become a popular destination as well as some other great recreational areas.

Peabody Center is 2 miles from the center of Salem, 15 miles northeast of Boston and 18 miles west-southwest of Gloucester. Peabody is bordered by Middleton to the northwest, Danvers to the North, Salem to the East, Lynn to the South and Lynnfield to the Southwest. Boy… That’s is a mouthful. (More about Peabody Below)

Most Expensive Towns in MA: Top 3 on the South Shore of Boston

There are a lot of Boston Suburbs. So many that we first split the areas around Boston by regions. We have the North Shore which is North of Boston, Metro West which is the suburbs to the West of Boston and the South Shore which are the suburbs in the South of the city.

Here are the three most expensive suburbs on the South Shore of Boston. Does the most expensive mean that they are the nicest? That is hard to say and really falls to personal opinion. But if you are looking for a nice suburb of Boston, want to be South of the city and have a nice budget… Then here is a short list that may make sense to start with.

Hey, it’s Jeff Chubb. Welcome to the channel. To learn more about real estate then don’t forget to click the subscribe and like button below. And if you want to talk Real Estate mano ye mano… Then find my info in the description below!

Cohasset
The most expensive town on the South Shore is Cohasset. The highest price home that sold last year was $6.75m with an average sales price of $1.5m.

Cohasset is a small town of a little over 8,000 people and is located about 16 miles South of the city of Boston. Cohasset is surrounded by Hull in the North, Hingham in the West and Scituate in the South. What makes Cohasset so unique and desirable is the Atlantic Ocean that surrounds the town in the West.

Residents of Cohasset are quick to point out it’s like living on Cape Cod, but with the proximity of Boston. It is the best of both words. Cohasset has two beaches, one harbor that opens directly out to the Atlantic and a “Gold Coast” Coastline.

The community enjoys a commuter rail stop, but also enjoy the close proximity to the commuter ferry in Hingham....

When to Start the Home Buying Process

We get the question “When should I start the home buying process” all the time. It’s a great question and one that ultimately changes as the market conditions changes. So lets dig in on the question of When to Start the Home Buying Process.

Hey, it’s Jeff Chubb, welcome to the blog! To learn more about real estate then feel free to look around! And if you want to talk Real Estate mano ye mano… Then find my information below!

A lot has changed in the last couple years. At this point, I feel the mental image of me sitting on a porch rocking back and forth in my rocking chair talking about the “good ole days” pretty much sums it up. A couple years ago we could meet with a buyer and go over what they are looking for and turn to the market and find some options… Today that is not the case.

I was talking with a buyer today and she provided me three large towns as a target area… There were 7 houses for sale in all of the price ranges. Seven.

Being a buyer today takes more time, more patience and more preparation. If you are one of those buyers that just run out and start touring houses without coming up with a plan… Then get prepared for a world of frustration… and heart break!

So why is that we are seeing these market dynamics of an extreme seller’s market?

It is a great question and one that there is ultimately no single answer for.

Yes, you will hear about how we can’t build enough and how new build starts are low… But we are a rather mature market with little possibility of major development like you can see in some markets in the South.

I can’t stand the Covid excuse anymore... But this one isn’t really an excuse. Covid changed the way we live and utilize our houses. We have seen a shift back to where people value more space as where pre-covid we were seeing trends of people wanting smaller...

The story of the Back Bay Continued...

The Back Bay is considered one of the crown jewels neighborhoods of Boston. It’s got it all from a premier location to one of the most beautiful city settings one could ask for…

When people think of Boston, they don’t know it, but they generally think of either Beacon Hill or the Back Bay. But the two neighborhoods are very different. The Back Bay used to be just that… a Bay. They started filling in the Bay in 1857 and was filled in 1882. This is important because the Bay it was built on is creating some problems for houses today… Big problems which we will talk about a little later…

What was once planned as only a Residential neighborhood would later be adjusted to allow Commercial property and now today holds some of Boston’s most iconic buildings. These include the Prudential Center, the John Hancock Tower and all of the world-renowned retail on Newbury Street.

Today a little more than 21,000 people call the Back Bay home. These lucky folks are drawn to this neighborhood because of its convenience as a centrally located neighborhood as well as its overall beauty… It’s like living in a Postcard each day with its picturesque tree lined streets and parks.

The Back Bay is different than a lot of other neighborhoods as it doesn’t have neighborhoods within the neighborhoods if you will. You have two sections of the Back Bay… Okay, it’s really three sections. You have the area that is closest to the Public Garden then the area down by Mass Avenue and then the third area is across from Mass Pike. And the affordability of the neighborhood goes in that order as well with the area by Public Gardens being the most premier areas and therefore the costliest.  And by the way… I use the term “affordability” very loosely…

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Title Town Duel: East Boston vs. South Boston

Today we are going to witness an anticipated match against East vs. South. In the Red corner we have South Boston who is officially weighing in as the home to 32,000 residents. And in the Blue Corner, we have East Boston who is officially weighing in as the home to 40,000 residents. Ladies and gentlemen, boys and girls… LETS GET READY TO RUMBLE!

To choose the victor of the battle between East and South Boston, we will be looking at and comparing 7 different categories. These categories include Commuting Access, Affordability, Education, Culture & Environment, Green Space, Amenities and Crime Rates. Now, by law because I am a licensed professional... I am not allowed to say which neighborhood is better or which neighborhood is the winner… SO, that means it is up to YOU. You get to decide who the winner is… Put your vote for which neighborhood is the winner in the comment section below. The winning neighborhood will move on to the next round.

Now I am assuming that you know all about East Boston and South Boston. But if you are looking to learn more about these exceptional towns then at the end of this blog be sure to check out our in-depth analysis of each of these amazing Boston neighborhoods.

So... Let's get this competition going! 

Crime Rates

This one should be an easy comparison. As facts don’t lie… But again, because I am licensed… I am not allowed to spout out any crime stats. It’s absurd. This I know. But what I can do, is point to research done by someone else and talk about that… So here we go!

I utilized the website Areavibes.com. This website has a lot of information about different areas around the country and includes grades on things like Cost of Living or Amenities… Or Crime!

So according to Areavibes, ...

Can you Break a Lease when Buying a house?

Timing a lease ending date and a home purchase perfectly is tough… Real tough. You need to start the process early in today’s market… So what are your options?

The first question I generally get in this situation is “Can I break a lease if I buy a house?”. Now every lease is different, but I have not seen too many leases that give you an easy no penalty out. So generally speaking, the answer here is no… That is unless you get permission from your landlord.

Now breaking lease laws differ by state, so the options and consequences may look different depending on where you live. Even if you can’t legally end a lease, there may be a few other methods that could get you out of your lease.

Honesty is the best policy. And that is also the case when it comes to buying a house. The first thing you want to do is let your landlord or property manager know that you are looking for a new home. Larger buildings will generally have policies that relate to breaking a lease while smaller landlords may just ask for you to work with them in the process. Heck, if you are paying below market rent… Then the landlord may even be excited to get the apartment back and re-rent it!

The first thing you will want to do is look for a Home Buying Clause in your lease. Very few leases have these, but you may be one of the lucky few. If your lease includes a home buying clause, this means that you can terminate your lease early if you have bought a new home. This is provided that you give your landlord proper notice.

If you don’t have a Home Buying Clause, then you can try to buy your way out. Your lease may say that you can terminate your lease by paying an early termination fee. The cost of this fee can vary based on the terms laid out in the lease. Generally speaking, you can expect to pay a minimum of 1 to 2 months rent as a penalty for breaking the lease.

Remember that even with this...

The Final Walk Through

The Final Walk Through. Let’s talk about what it is. Why it is important. And when it happens.

Hey it’s Jeff Chubb, welcome to the channel. To learn more about real estate then don’t forget to click the subscribe and like button. And if you want to talk Real Estate mano ye mano… Then find my info in the description below!

The final walk through is an essential step of the home buying and selling process.

So, what is it? The final walk through is just that. It is a time when a buyer walks through a property that they are purchasing to verify that they are receiving the property in the promised condition and there is no debris left behind.

When does it happen? The final walk through generally happens the day of or the day before closing. The reason that the final walk through happens so close to closing is that the buyer owns any and all issues that happen between the actual walk through and when they have closed.

Why is it important? This is an actual example that happened to me. We had a closing scheduled for Thursday. My client moved out of the house over the weekend with the last day of them being in the property on Sunday night with no issues and the property ready to be delivered in “broom swept” condition.

The buyer had scheduled the final walk through on Wednesday night. They showed up and started walking around the house when they noticed some water. They opened the basement door to find the basement literally full of water. Sometime between Sunday night and Wednesday night, a pipe burst in the second-floor bathroom. Traveled down from the second floor through the first floor and into the basement. If this was a car, the equivalent of this would be the house being totaled...

Getting to know East Boston: Boston, MA
Getting to know East Boston – From talking about the different neighborhoods that make up East Boston and what they have to offer from restaurants to schools to parks.

3 Options A Divorcing Couple Has & the 7 Things You Must Know When Selling a House as part of a Divorce

The 3 Options when getting a Divorce and a house is involved:

• If you do not want to sell, you have the option of possibly buying out your partner’s legal interest and keeping the home.

• You could negotiate to occupy the home for a period of time. This would typically be an option if children are involved.

• Sell the house and move on. This way, both parties receive a fair share that could be invested in new properties.

7 Must Knows When Getting a Divorce & Selling a House

1. Pick an Agent who is objectively qualified in Divorce Sales

It is worth the time to find an agent who specializes in working with separating couples as this situation can present a unique set of challenges. In many cases when working with a divorcing couple, a real estate agent will double as a mediator. 

You need to find an agent that both can trust and feel comfortable with. An agent where neither person feels that the agent is on the other person’s “side”. It is always recommended to pick a fair and neutral Realtor rather than hiring a family friend or mutual acquaintance. Picking an agent where there is no connection will help build each individual's trust that their personal situation is not getting back to their personal sphere. 

It is always recommended that both parties be present for any listing interviews. It is important that the divorcing couple understand that their agent represents both of them equally. Oftentimes when one party selects the Real Estate Agent, the other feels...