The Boston2.com Real Estate Blog

Prices Dropping in Cambridge MA?

What Happened to Cambridge?!?

I keep a pretty close tab on market stats which helps me catch trends generally faster than most. 

But that quickly changed when I had a potential seller client that I spoke to last year reach out. They were thinking that this Spring market made sense to move forward with the sale of their condo. So I pulled the data and reran an analysis and almost fell off my chair. 

What happened to the Cambridge market? Has it spread to Boston? 

Oh, Real quick. My name is Jeff Chubb and I am a retired investment banker turned real estate agent that has sold more than a 1,000 homes. If you have real estate questions, then know that I am here to help. 

The year over year stats for Cambridge are shocking. It’s left me scratching my head with what is to become. 

Year to date in 2024, there have been 102 Cambridge Condos sold for an average sales price of $1,082,477 and a median price of $919,000. 

Compare this to the same time period in 2023. There were 107 Cambridge Condos sold for an average sales price of $1,211,732 and a median price of $975,000. 

So that means that sales are down by 4.7 percent. Okay. Who cares?

But the average price is down by 10.7%.

The median price is down 5.7%. 

Big difference. And in this case, I think it makes sense to believe the median pricing over the average pricing data… Even with the big sample size of data!

The reason is that in 2023, there have been 25 properties sold for $1.5 million or more. That number swells to 52 condos when you factor in sales that were $1 million or more. ...

REALTORS - Add A Zero to Your Income...

Add a Zero to Your Income by doing this one thing!

This one killed me. Because it was so stupid and I couldn’t believe I wasn’t doing this my entire career in Real Estate. 

And the worst part is that even after all of those years and all of the transactions… I didn’t even think about it. I stole the idea when I was visiting a friend and learning about his operation. 

I immediately started to think about all the buyer clients that I had lost over the years because quite frankly… I was doing a crappy job working with them. 

Millions of dollars in lost fees. And it could have been so painfully easy to retain them... 

Real quick, hey it’s Jeff Chubb. I am a recovering RE/MAX, then eXp Agent that now is partnered with REAL. If you have any questions about my experiences, then know I am an open book and ready to help… All confidentially of course. And if you like the content, then I appreciate you slamming that like button right down there and considering subscribing!

Okay, so what is it? What is this painfully stupid idea?

It’s texting your clients house options that you have scrubbed. 

I know what you are thinking… DUH. But it’s the system that you need to put in place to ensure that you are consistent that makes the difference. 

Consistency is key in pretty much everything in life. But you can see the difference it makes in this business very quickly!

So here is the system. You most likely have a CRM that is sending your clients properties....

BEST ways for Seller Real Estate Lead Generation

Best Seller Lead Sources

Working with seller’s has generally always been sexier than buyers, but with this new lawsuit… The attractiveness of working with sellers has gone up ten fold! I personally have done a 100% pivot in my new client lead generation to seller leads. But keep in mind that I have a 30,000 person database and am very strong with buyer SEO rankings. 

In other words, I am not suggesting for others to necessarily go 100% all in. 

So what are the best seller lead generation sources? I am also going to talk about a must do in order to get a positive Return on Investment with these lead sources towards the end.

By the way, seller’s are tricky. They aren’t like buyers who are a lot more up front with their intention of making a move. For the most part, seller’s like lurking in the shadows. They like staying uncommitted and will tell you that they have no intention of moving to only have their house on the market three weeks later. 

Real quick, hey it’s Jeff Chubb. I am a recovering RE/MAX, then eXp Agent that now is partnered with REAL. If you have any questions about my experiences, then know I am an open book and ready to help… All confidentially of course. And if you like the content, then I appreciate you slamming that like button right down there and considering subscribing!

Okay, so let’s talk about lead sources. 

The BEST seller lead sources are not surprisingly, the ones that cost the most. 

I have found that the best seller lead generation sources are Radio and Television....

Are Luxury Real Estate Agents in Trouble?

Is being a luxury agent a good thing? Or because of these upcoming changes… Are there some headwinds on the horizon and it may actually be a… bad thing. 

For years, agents that operate in the luxury market have been looked up to. Almost idolized. Heck, there are a bunch of HGTV Luxury Real Estate shows… Real Estate agents… TV Shows! Ha. 

I mean the big paychecks just make other agents drool… And some agents hate… And the general public as well... 

So does this new economic climate spell a doom and gloom scenario for some agents. 

I think the answer is yes… With a big asterisk. Let’s get into this. 

Real quick, hey it’s Jeff Chubb. I am a recovering RE/MAX, then eXp Agent that now is partnered with REAL. If you have any questions about my experiences, then know I am an open book and ready to help… All confidentially of course. And if you like the content, then I appreciate you slamming that like button right down there and considering subscribing!

So will the VERY HARD to earn gravy train continue? Let’s dissect this a little. 

It’s the new world of a decoupled fee. Now imagine you are a Ten Million Dollar buyer. You are obviously a highly educated successful business person. Would you stroke a $250,000 to $300,000 check in order to have an agent represent you?

I don’t see it. But I also don’t operate in the luxury market. I was talking with a luxury agent and he said that yes they will. And that’s my asterisk that we will get back to in a couple of moments. 

So that’s the ten million dollar buyer. Maybe that’s the ultra luxury agent? Maybe the ultra luxury...

Difference between Pre-Foreclosure and Foreclosure

Maybe you or a friend or family member is  behind on their mortgage and are trying to figure out what it all means. Know it’s overwhelming. It’s confusing. And that help is available. 

So let’s answer the question about what the difference is between Pre-Foreclosure and Foreclosure. And as a bonus, let’s also talk about what REO stands for and means. 

Okay, let’s say that I am not able to afford the mortgage on my house. Most people believe that if you miss the mortgage payment on the 1st of the month then you are late. This is not true. You have a grace period until the 15th of every month. You are late on the 16th, but it's kind of late. Yes, It’s true. You are late and you will be assessed a late fee, but there will be no impact to your credit as long as you pay by the end of the month. That’s why I say it's kind of late. The late fee is annoying, but your credit isn’t harmed so in the grand scheme of things… Who cares? The mistake cost you a couple bucks. 

Okay, once you are a month late, that’s when you have moved over to the pre-foreclosure pool of loans. This is essentially when the bank will most likely move the loan to the loss mitigation department. Most. I say most because all banks don’t operate the same. But, most banks won’t really do anything for the first 90 days. They may call to try to get some money. Send a couple automatically generated notices outlining a borrower's options. But they don’t really take it all that seriously at this time. They are hoping the homeowner cures the loan. 

It’s after 90 days, that’s when banks start to move forward and take it a little more seriously to begin the actions of settling the debt. Now for some banks it might be...

Real Estate Lead Generation

Best Lead Sources

I have spent well over $2 million dollars in my career on leads. They are expensive, but ultimately they are an investment in yourself and your business. 

Some lead sources are better than others. Others convert higher than others while others may cost less. 

It’s about creating a strategy. Giving that strategy some time and staying consistent. 

So let’s talk about a lot of lead sources. Let's talk about the pluses and minuses. And then in the end, I will talk to you about how I built out my company and where I saw my success. And we will talk about the lead sources that I found to be an absolute waste of time. And I will also give you some of my biggest advice that could have saved me a ton of money if I had followed over the years. 

Let’s start off with the lesser expensive ones that ultimately are great to get your business started and growing. 

Real quick, hey it’s Jeff Chubb. I am a recovering RE/MAX, then eXp Agent that now is partnered with REAL. If you have any questions about my experiences, then know I am an open book and ready to help… All confidentially of course. And if you like the content, then I appreciate you slamming that like button right down there and considering subscribing!

The free lead sources are great, but the issue is that they really can’t be scaled. So ultimately, they really aren’t free because they suck up your most valuable commodity, your time. 

The easiest one is open houses. You don’t have any listings? As a top producer if you can host the open...

New to Real Estate? Should You Join a Team?

Just Starting - Should you Join a Team? 

A question that I get over and over again revolves around teams. And if you are new to real estate, then does it make sense to join a team? 

It’s a tough question to answer for a couple of reasons. The first is that not all teams are created equal. So, quite frankly if it is a crappy team whose existence is to just feed the team leader that you are looking at, then it may make more sense to go it alone. 

And then if you have a little bit of undisciplined natural tendencies, then being on your own may be your own worst enemy. 

We are going to talk about all that here as we weigh this question. And we will also go over all the pros and cons of joining a team. 

Oh and in the end, I will tell you the one question that is asked, especially in the beginning, that is a sure fire way to ensure that I won’t hire you. 

Real quick, hey it’s Jeff Chubb. I am a recovering RE/MAX, then eXp Agent that now is partnered with REAL. If you have any questions about my experiences, then know I am an open book and ready to help… All confidentially of course. 

Okay… So team or not to team. 

I think a team is a GREAT idea for a new agent. There is a reason why 87% of all newly licensed agents are out of the business within 2 years. We will touch more on that in a couple moments. 

But a team offers a newly licensed agent a steroid shot and drastically increases their chances of making it in the industry. And for the record. This industry is cut throat. It is one of the most difficult out there. I know the HGTVs of the world make it look easy… But again. There is a reason that 87% of all agents end up leaving...

Real Private Label - Independent Brokerages Best Option?

The Best Option for Independents - REAL Private Label

Have your cake and eat it too. That is what REAL has created with their Private Label program that is specifically designed to allow independent real estate agents to keep their identity while plugging into a larger model that is tech driven and eliminating liability. 

I am getting a little ahead of my skis here. First let’s talk about what it is. 

The REAL Private Label is a program that allows a brokerage to keep their name and their independence, but also allows them to be part of the REAL network. 

It is essentially set up as a D/B/A (Doing Business As). Let’s say you are the owner of ABC Real Estate and you have a 70 agent brokerage. You have spent millions on marketing so that ABC has some brand recognition in your town. Understandably this would be a lot to walk away from! 

REAL allows you and all of your agents to join REAL, but also keep ABC Real Estate. Like I said, you get to have your cake and eat it too! 

So what are the benefits of taking an independent brokerage and becoming a part of REAL and using their Private Label program. 

To me the first and biggest benefit is the elimination of Liability. In today's Class Action Lawsuit and sue for your coffee being too hot world… This is a pretty nice perk. Being a part of REAL means that they are responsible for the liability of your agents as well as the industry sales practices. It’s REALs Errors and Emissions. 

Another benefit is the back end management of the real estate company. I remember it was this benefit that tipped the scale for me going to eXp back in the day when I was looking at leaving RE/MAX and was deciding to go independent or going to...

Which Real Estate Companies Survive?

Which Real Estate Companies Survive the Next Downturn?

There is about to be a lot of change in our industry. So the question becomes, who survives? Everyone is talking about that. There is a lot of disagreement on what and how much is going to change. But time will tell with the best ideas and the best changed business models ultimately winning. 

So let’s talk about what so few are wanting to talk about, let alone admit. A reduction in agent count AND a reduction in the amount of real estate companies. 

I have heard some talk on the agent count, but no one has talked about the reduction on real estate companies. 

Let’s do a quick survey of the field. Even without these industry changes, the industry was on it’s way of contracting the agent count either way. 

We currently have 1.6 million agents for 4.5 million sales. The last time we had a market with 4.5 million sales it was supporting about 1 million agents. Essentially the agent count was already going to have to contract in order to get back within the historical norm. 

But now let's add in this additional cluster that is the NAR settlement. 

We can debate the amount of agents that will be forced to leave until we are blue in the face. But what is not really up for debate is the question as to whether this will reduce the amount of agents in the industry. 

I think it’s safe to say that it’s a lot of the same agents that were going to be forced to head to the door due to the natural re-alignment from the decrease in sales. But I still think there will be additional fallout. I think this lawsuit essentially makes being a part time agent nearly impossible. The people that are doing this for a...

MYTHS DEBUNKED - National Association of Realtors Settlement

National Association of Realtors Settlement Myths

The National Association of Realtors settled in a class action lawsuit. Once approved, the settlement will take effect in July. There have been declarations in the media about what the outcome of this settlement will be. The media has had a consistent drum beat that transacting real estate will become almost free, it will protect consumers and make homeownership affordable again. 

This lawsuit does not do this. Let’s break down what they are saying and shine a little truth on the matter. Because the bad information is only adding to the market confusion. 

My name is Jeff Chubb and I am a retired investment banker turned real estate agent that has sold more than a 1,000 homes. If you have real estate questions, then know that I am here to help. 

Let’s go over 6 media declarations and clear the air. 

The Settlement forces brokers to reduce their compensation. 

False. The settlement in no way establishes a standard or limitation on Realtors for what they charge, nor the services that they elect to deliver. Those fees have always been negotiable and there has never been any collective bargaining. 

I do think there will be more negotiation in fees and ultimately the fees will decrease in the beginning, but as more and more agents leave the industry then you will start to see the average fee increase. 

The Settlement will, for the first time, allow sellers to no longer pay compensation for an agent bringing the buyer. 

This one is false as well. There has never actually been an obligation for a seller to pay a buyer agent. I guess that’s not a 100% true. I guess a seller needed to put $1 in the MLS. So I guess...

eXp Realty's BIGGEST Negative

Join eXp Realty? THIS is a MUST know when considering joining eXp Realty. It's the ultimate eXp Realty Complaint!

I am on record saying that the worst thing about eXp Realty are these what I call… Downline Silos. They are bad for the agents. They are bad for the company. And they ruin the company's culture. 

Yes, this is my opinion and you should definitely do your own research to see if you agree. 

But the downline silos are ultimately what will end up being the company's biggest downfall. Stick around because we are going to talk about exactly what a Downline Silo is and why they are bad and a culture killer. But I am also going to bring the receipts… I am going to show you examples of what’s going on at eXp Realty… It’s all out in the open…

Real quick, hey it’s Jeff Chubb. I am a recovering RE/MAX, then eXp Agent that now is partnered with REAL. If you have any questions about my experiences, then know I am an open book and ready to help… All confidentially of course. 

 So in a recent video, I talked about why I left eXp Realty. And the downline silos was one of those reasons. Don’t get me wrong, this wasn’t THE reason I left. It came down to being a financial decision for me, but the cultural rot of these downline silos always bothered me. To say it another way… These silos were not what pushed me out the door, but man was I happy to have that door slam shut once I left. 

So what is a Downline Silo? At eXp Realty you are an agent and if you recruit someone, then they are in your downline. Now there are some very epic recruiters at eXp that have amassed downlines of 10,000 plus people. As your downline grows, the financial rewards get bigger and bigger. So different COMPETING downlines started offering different perks. 

...

UNPOPULAR Realtor Insight...Realtor Commission Settlement

I will admit. I have been slow on getting a separate video out on this as I didn’t want to just react. I wanted to see how it was going to play out and see what other people were saying and what they would be doing as a reaction to what I would consider being the biggest development in our industry since at least the 20 years that I have been in it. 

And the reactions have been surprising. I have the luxury of networking with some of the biggest teams in the country. These people are far more successful than I am. Smart folks that are the top in our industry. And I have been shocked by their response or should I say lack of response. 

It seems that… I can’t even say the majority. Because it feels like nearly the entirety of our industry is continuing to operate in a fashion that the business will stay the same, but the way we do it will be a little different. 

Yes, we are going to talk about that. We are going about my opinion on the future and what I am seeing today. And what it means for you, the consumer. I think a lot of what I am about to say will surprise you. 

Real quick, my name is Jeff Chubb and I am a retired investment banker turned real estate agent that has sold more than a 1,000 homes. If you have real estate questions, then know that I am here to help. 

Let’s recap extremely quickly. The NAR settled with a group of seller’s in a class action lawsuit. With this settlement came agreements on changes to how the Organization operates and thereby how the industry will operate. Essentially what is being called for is a decoupling of the real estate commissions where the seller doesn’t pay...

For Real Estate Agents: Next Home Buyer Showing - What Are You Going to Do?

What Are You Going to Do? 

So what are you going to do? The next buyer that calls to take a look at your listing or the next buyer that wants to see the house at 123 Main Street.

So what are you going to do? We’ve been trained… For pretty much forever to go jump in our car and show them that house! Made sense because we were always pretty much guaranteed compensation if that buyer was to love that house and want to buy it. 

But things changed. Now you are not guaranteed anything. Are you willing to work for free? Are you willing to use the gas in your car and take time away from your family for the very big chance that you won’t make any money for your time and effort? 

If you are just throwing a buyer in a car or just jumping to immediately show that buyer a house, then that’s what you are risking doing. 

Yes, you don’t see a ton of 0% buyer side house listings today. But come July… They all will be. 

So I ask the question, the next time a buyer calls or the next time a buyer clicks a little showing request button… What are you going to do? 

It CAN’T be jumping in the car and rushing to show them the house. You need to create a system that ensures that the buyer understands how the fee structure works and that they are paying it. And you need to let them know how much they are paying. 

And this needs to be done with EVERY buyer. Yes, the buyer may go call another agent to show that house… And the other agent may jump at the chance to show that house… But If they aren’t willing to sit down and go over the process, then I...

Massachusetts Market Update April 2024

YOUR Massachusetts Real Estate Market Update for April 2024

There is some big news from let's call it a correction from last month’s data. Two markets saw the price gains pull back while one market segment saw the appreciation rate grow. 

The Massachusetts real estate market continues to be very strong… One of the strongest in the country.

If you are looking to hear about the Massachusetts Real Estate Market data for Single Family Homes, Condos and Multi-Family properties… Then you are in the right place.

The Spring market started a little earlier this year and it’s off to a big start. This is going to be a very strong Spring market, even with interest rates not going down. I am personally still in the camp that the FED doesn’t cut in June, but time will soon tell. 

I continue to be in the camp that the FED can’t lower interest rates. If they do, then the cost of housing is going to skyrocket and lead to more inflation. I was relieved to finally hear others start talking about this as recently Barbara Corcoran started to talk about economic common sense. 

Real quick, my name is Jeff Chubb and I am a recovering Investment banker, turned real estate agent that has sold more than a 1,000 homes. If you are planning on buying or selling a home now or in the future, then it would be a pleasure to speak with you. 

Let’s start with Single Families

In March of 2024, we saw 2,290 Single Family homes sell for an average sales price of $771 thousand dollars. 

...

Will you be able to Compete?

Will you be able to Compete?

At this point, I am sure that you are aware of what just happened in our industry. Things changed overnight… Well kind of overnight. They changed, but the stay of execution has been held off until July. 

The lawsuit has made it so that the seller agent fee and the buyer agent fee has been decoupled. I have gotten a couple good laughs with people saying that nothing will change and to control your controllables and get back to the phone and call some a lead! 

But how can you say nothing has changed when there is a good chance that if YOU haven’t changed the way YOU do business that when your buyer finds a house that they love… You won’t be offered any compensation for your time and resources spent to acquire, nurture and work with that client. 

My question is how is an agent that works for a traditional model like at a Coldwell or Compass that has lower splits or someone that pays a monthly mortgage payment at a RE/MAX going to be able to compete with an agent that works for a lower per transaction cost and lower capping brokerage. 

Your questioning, how so… Right? 

The game has changed in a couple ways with this decoupling of the fees in the transaction. It’s now a game that is all about value and a person’s ability to demonstrate that value. It’s a game of competition at its finest. 

Capitalism has been unleashed in our industry. You will see a barrage of agents look to adjust their compensation models and do things to offer potential buying clients more value. This way that potential client chooses to work with them over another agent. Because the days of 70% of buyers working with the first agent they meet is gone. 

Buyers paying for the services...

What Could You Do with another $1,900 a month?

What Could You Do with another $1,900 a month?

When it comes to health insurance, I never thought the possibility of saving $1,900 a month for my family of 5 was possible. Not if I wanted any type of real coverage that is…

Let’s face it, the cost of health insurance has gotten out of control. It’s something that all of us pay for, but really only something that us independent contractors really see each and every month. 

It’s crazy to think that I paid more for healthcare than I did for the Principal and Interest on the mortgage of my house. I almost paid more for healthcare than I did for not only the Principal and Interest, but also the insurance and property taxes too! 

The $3,000 a month in insurance cost wasn’t for a no deductible plan either. We had some pretty high deductibles, but I will say that all together… It was great insurance. 

Needless to say the health insurance consultation option while onboarding when I made the switch from eXp Realty over to REAL Broker caught my eye. 

I figured… What do I have to lose! The guy’s name was Jeff… So he was obviously a good guy. 

At the end of the day, our families insurance with the REAL Broker affiliated plan went from $3,000 per month down to a thousand and change. That is a $1,900 per month savings for me and my family. 

Now the insurance is different. It’s two pieces. There is a preventative insurance piece and then a separate catastrophic piece. It’s different, but the coverage was very comparable… And we save $22,800 per year. 

If you have “normal” health insurance and work for REAL, then I beg of you to at least...

Why I Left eXp Realty

Why I left eXp Realty

I was with eXp Realty for nearly 6 years. I think I should first mention that it is the second best real estate company out there. Without question. And the founder, Glenn Sanford was a genius in creating his vision. 

It’s difficult being the first through that brick wall and creating a new type of business model. eXp Realty did that. And they were rewarded with it being one of the fastest growing and now largest brokerages in the country. 

But here is the thing. While being first gives you advantage as first to market, it allows others to look at your business model and put together a business plan that perfects the imperfections that you couldn’t account for in the designing phase. And that is what Real Broker did. 

I was an EXTREMELY happy agent at eXp. Heck, I was on the agent advisory council. I loved the company. So what were the reasons and advantages of Real Broker that got me to leave eXp Realty? 

I am going to list them out. Mind you this is my opinion and what I saw. I implore you to do your own research and see if that is the case for you too. And if you have questions, then please feel free to reach out… Confidentially of course. 

I am a numbers and cents guy. So the financial part of it was the first thing that piqued my interests.

The first thing I saw was that the cap was less. It is $12,000 compared to the $16,000. Frankly, it’s not end of the world money and $4,000 was not enough of a reason to leave eXp. But the half cap for a team member goes from $8,000 to $6,000 per year. I felt this would be helpful in recruiting new team members to the team. 

But also what was nice is that the percent going...

Massachusetts Real Estate Market Update for March 2024

YOUR Massachusetts Real Estate Market Update for March 2024

Two markets that saw double digit year over year pricing increases… And one market that saw “only” (ha) Single Digit price gains. Then there is the market that broke a 26 month year over year unit sales streak…

If you are looking to hear about the Massachusetts Real Estate Market data for Single Family Homes, Condos and Multi-Family properties… Then you are in the right place.

This market is confusing. It’s red hot. But yet there are signs that inventory is starting to grow. Interest rates aren’t going down, but yet home buyers are flooding the market. 

It’s going to be a crazy Spring market. It’s not a matter of if anymore. It’s just a matter of how crazy. Just in the last couple weeks, a house listed at $700,000 that sold for $872,000. A house listed at $800,000 that sold for well over one hundred thousand dollars over asking price. I could cite example after example. 

The big takeaway is that the FED CAN’T lower interest rates. If they do, the cost of housing will skyrocket and that will only lead to inflation. I hate to be the crazy one in the room, but the FED in my opinion needs to be increasing rates. There I said it. Don’t shoot the messenger. 

Real quick, my name is Jeff Chubb and I am a recovering Investment banker, turned real estate agent that has sold more than a 1,000 homes. If you are planning on buying or selling a home now or in the future, then it would be a pleasure to speak with you. 

Let’s start with Single Families

In February of 2024, we saw 1,805 Single Family homes sell for an average sales price of $725 thousand dollars. 

...

Massachusetts Real Estate Market Update for March 11 2024

YOUR Massachusetts Real Estate Market Update for the week of March 11th

I feel like I should have gone back and dug out last year's video… Because we fell on some similar tracks as last year in many different areas. 

But there continue to be some headwinds in our economy and in our market that we need to stay focused on. Let’s get into it all…

In this video we will go over the Single-Family and condo markets in the state of Massachusetts. And we will also do a quick interest rate update… And we will also talk about some relevant current events. 

We are seeing the increase in buyer demand in the numbers. I will talk about that more in a couple moments, but in the last couple of weeks I have been talking about all the increases in buyer demand… But there wasn’t really much proof that I could show you of what I was saying. 

I don’t think you really want to see my call logs and I am confident clients wouldn’t want me showing you proof of their pre-approvals. But there is little doubt that the Spring market is upon us. 

Hi I am Jeff Chubb – A recovering Investment Banker turned Real Estate Agent that has sold more than a 1,000 homes. If you have any questions about the real estate market, then know I am here to help.

Two quickies. We Buy Houses all over Massachusetts. Cash. Fast or slow closing timelines. If you know of anyone that is looking to sell and doesn’t want to go through the hassles of the traditional way, then have them visit CashOfferMA.com. Of course that's only if you want cash for houses Massachusetts.

Speaking of the good ole traditional way… We now offer a selling program of 1% instead of the traditional 5 to 6 percent. Do you know of anyone thinking about selling their house and wanting to save 10s of thousands of dollars? Then I would love to chat. 

Let’s jump into the Single-Family market stats.

Inventory...

Massachusetts Real Estate Market Update for February 26 2024

YOUR Massachusetts Real Estate Market Update for the week of February 26th

Take a week off and some interesting things happen with the market data! I am not saying that buyers should be cheering by any stretch of the imagination… But inventory is moving in the right direction… If you are a buyer that is. 

In this video we will go over the Single-Family and condo markets in the state of Massachusetts. And we will also do a quick interest rate update… And we will also talk about some relevant current events. 

We are going to look at the inventory levels in a moment and how it could spell some good news for a buyer. The bad news… The market is crazy again. It’s multiple offer situation after multiple offer situation. It’s time to brush off the tricks of two years ago because that’s the difference between writing 20 offers before you securing a house and writing 5. 

My buyers found a house they liked. It was listed for $799,000. So a pretty good price range. Above average for the town. My clients went up to $850,000. They weren’t even in the conversation. 16 offers with the winning offer having a nine handle on it. 

The agent you choose to work with will ultimately make a huge difference. And make sure that you have a home buyer meeting where you go over the process… And most importantly the strategy you can utilize to drastically decrease the length of searching for a house and putting in offers on that house. 

Oh… And start the search early. If your lease is up in the next 6 months… You need to start the process now. 

Lower interest rates would spell a disaster for home buyers when it comes to pricing. 

Hi I am Jeff Chubb – A recovering Investment Banker turned Real Estate Agent that has sold more than a 1,000 homes. If you have any questions about the real estate market, then know I am here to help.

Also, I am looking to buy houses. Let me know if there are any...