Boston Home Prices Continue To Soar Despite Recent Rough Weather
Did you know that homes in Weymouth, Massachusetts were in the path of 16 significant weather systems in the past year alone? CNBC says that’s a record for the city.
Would it be surprising for you to find out that meteorologists, real estate agents, city planners, and developers expect this trend to continue rising over the foreseeable future?
The forecast puts builders in a tough situation. Developing on and near the waterfront is excellent for the economy, brings in tourists, and increases luxury living in the city, but changes to building codes are necessary to help withstand the harsh weather that is coming.
The natural disasters not only affect residential buildings, and business owners are finding out that they are paying more for repairs, flood insurance, and disaster relief.
Homes That Sit Near Water Are Warming Fast
Coastal waters are not getting as cold as they did ten or twenty years ago. In fact, the area is close to the Gulf of Maine, which happens to be warming faster than almost every other state in the country.
CNBC talked with experts from the National Oceanic and Atmospheric Administration or NOAA who felt that these changes are here to stay. If the area continues to experience hurricanes and strong nor'easters, then new construction must be ready to withstand the severe weather.
16 Selling Mistakes You Will Want To Avoid
Selling your house is a big deal and the process demands as much attention as you can give and an experienced professional to guide you. You’ll want to do things right since any mistake could have dire consequences costing you thousands or putting you in a legal bind.
Is the house you are looking to sell in the Boston Metro market? Once you’ve done the necessary things to do before selling your house, you’ll have to make sure you avoid the following common selling mistakes to sell faster and easier minus the frustrations, aggravations, and troubles that can come with doing things the wrong way.
Avoid Overpricing Your Home
Overpricing the property is the most common mistake you should avoid by all means. It’s understandable that you love your house but will that justify a higher asking price then the market supports? Sellers who price their properties high often end up getting less than they would have made if the price had been set according to the market reality.
When it comes to setting a price, try to break free from your inner...
What Is a Real Estate Short Sale and How to Buy One
Buying a home can be stressful, but once you find the home of your dreams, it’s completely worth the effort. In most cases there are quite a few options when it comes to buying a home and some of the terms may be a bit confusing if you’re not familiar with them.
One of the terms you may come across when buying a home is a “short sale”. This post will explain what a short sale is, why they might be worth your consideration, and how to buy one.
What Is A Short Sale?
A real estate short sale is a home that is being sold for less than the outstanding mortgage left on it. A seller might opt to do this for a variety of reasons. One of the most common reasons for a short sale, is that the homeowner can no longer keep up with their mortgage payments.
This may be due to loss of income or increase of expenses. In this case, a short sale is made to avoid foreclosure. A short sale can also occur if a home has significantly decreased in value since it was purchased.
For example, imagine that you take out a $350,000 loan to buy a home that is appraised at $400,000. Two years down the line, you need to move due to a job relocation, but the housing market has tanked in your neighborhood, and the house is now only worth $300,000, which is less than you owe to the bank.
If the homeowner can no longer afford to keep up with their mortgage payments, or otherwise needs to sell for...
A Simple Guide to Buying Foreclosure Property
Buying a foreclosed home can be a great way to save money, but the entire process can seem intimidating to the average home buyer…
- Will a bank give me a loan for a foreclosed home?
- Are foreclosed homes in livable condition?
- Will a real estate agent help me buy a foreclosed home?
- What exactly counts a foreclosure?
These questions and more could all be running through your head, and the sheer weight of finding the right answers could hold you back from finding the foreclosed home of your dreams at a price that’s better than market value.
So in this simple guide to buying foreclosure property, we want to set the record straight and give you the answers you need.
What Is a Foreclosed Home?
Simply put, a foreclosure home is a piece of real estate owned by the bank after the previous owner fell behind on payments. All sorts of situations can lead to this (such as job loss or unforeseen expenses), but...
Health Benefits of Living by the Beach
I recently came across the article ‘Neuroscientists Strongly Recommend That You Visit The Beach Regularly, which greatly intrigued me. I can’t begin to say how amazing it is to live by the beach. No matter how stressful the day, it only takes a few minutes to melt the stress away.
Last night my wife went out to dinner with the girls and I was left to fend for for myself and our two daughters. Out of initial laziness, I decided it best to order Victoria’s Subs. Driving by Straits Pond and realizing how perfect of a night it was, I quickly made the decision to head down to Sandy Beach (Insert Link Here to Beach blog post done prior). A simple dinner turned into a night I don’t think I will ever forget. Reagan running after the Seagulls wearing her purple tutu while Madison enjoyed nature’s sound machine, asleep in her carseat.
Oftentimes, Reagan would take a break and run back to me to take a bite of her sandwich and take a sip of her seltzer water with the waves breaking and Minot Light off in the distance. While I don’t own a waterfront Cohasset Home, you can search all Cohasset ...
Boston Rentals Show Promising Investment Opportunities
Boston homes are not staying on the market long. No matter what neighborhood you look in, there are few open houses or for sale signs to discover. When you do come across a house for sale in Quincy, Waltham, Medford, or Newton, then you will want to contact the agent immediately because some homes are spending only a day or two on the market. Can you imagine how fast a cute home with stylish upgrades and modern appliances will go with these turnover rates? Striking while the iron is hot could net you big returns if you choose the right property. Signs are pointing to turning homes into multi-unit rentals to get the most income. Switching over design ideas and making functional changes do not have to be intense and budget breaking. By adding a rooftop bar, a backyard barbecue, or a fabulous appliance package in the kitchen, you can draw in rental applicants fast.
Current Prices for Boston Homes for Sale
Redfin says that the average sales price for a home in Boston was $712,000 in June 2018. Many homes get multiple offers with down payments ranging from less than ten percent and almost a quarter of the total price of the home. None of the homes on the site were listed for more than 28 days with several getting the sold sign within two to three days after listing. When you own Milton MA real estate, then you have a good opportunity to sell your home for higher than market value with many offers coming in over sale price to beat out the competition. The average price for each...
21 Things You Should Do Before Selling Your House to Net You Thousands More
What are those things you always want to achieve when selling your house? For most people, the most important things are being able to sell quicker at a better price. In a competitive market like the Boston real estate, you’ll need more than luck to get your property sold at maximum value. Want to learn how you can sell your home faster in Boston? These 21 tips will not only ensure you sell faster but they’ll also ensure you get top dollar on the transaction.
1. Make repairs
You may have lived all along with stained ceilings, broken windows, missing tile, a heavily-scratched floor, or some other dents and issues. It’s fine though, after all, you’re the landlord of your house. But that is about that. Since you’ll be putting your home on the market soon, you won’t like anything to get in your way of making a great sale. If there is one thing that will greatly affect the way prospective buyers value your home, leaving these issues that need repairs unattended to is one thing that will devalue and de-market your property to a large extent. If you’re hoping to get maximum value before placing your home for sale in or near Boston, consider fixing any problem you can.
2. Complete unfinished projects
It’s no doubt you’ll have one or more project you’ve...
Boston's Top 5 Beaches
If you have a home for sale in Cohasset, then you might want to point out to potential buyers that Boston has excellent beaches to explore. New home buyers can enjoy a fun afternoon soaking up the sun, playing beach volleyball, splashing in the water, exploring the beach shops, or having a nice picnic. Boston has numerous recreational activities for families living in the area giving you an advantage when selling Milton, MA real estate. For example, knowing that you can get to Crane Beach via the commuter rail from North Station and take it to Ipswich might be important to someone relocating to Quincy, Brookline, Mattapan, West Roxbury, or Hanover. Helping out-of-town buyers learn about the area will give you or your agent a way to connect with open house guests. Making an emotional bond is a fast way to get people to feel an attachment to your home.
America's Oldest Beach, Revere Beach
Known as America's Oldest Beach, Revere Beach is 122 years old beginning public service in 1896. Guests like to visit the park to go swimming, soak up the sun, listen to musical acts, and sample new foods at the restaurants and food stands on the grounds. Events like annual sand castle build-off and sculpture contests along with kite competitions entertain young and old alike. Visitors find that Revere Park has festivals, fireworks for the holidays, and outdoor movie nights that people buying in Quincy, MA can enjoy as part of the family. There are several hotels with lavish accommodations and premier restaurants to sample after a day at the beach.
Blockchain for Real Estate
Last month, hotelier Rick Hilton auctioned his Roman mansion at a cryptocurrency auction signaling the arrival of the blockchain. Here's how technology is changing real estate. That doesn't mean your local real estate agent will let you buy a home using cryptocurrency in the next week or two, though. But blockchain technology has arrived, and it’s just now starting to show true emergence in real estate transactions.
What is a blockchain?
A blockchain offers multiple functions. This technology hosts other applications on a platform, but its basic function remains the processing and immutable recording of any transaction on its platform in a ledger. It does so in an orderly fashion, one "block" of data at a time, time-date stamped in a "chain." It's literally a virtual chain, or series, of events or transactions. A blockchain may be centralized or decentralized.
What is cryptocurrency?
Many blockchains have developed their own proprietary cryptocurrency for their specific consumer use. Transactions can be for the purchase, sale, or transfer of any asset stored or represented on that blockchain. For example, in Russia, Burger King launched a proprietary cryptocurrency called WhopperCoin. Burger King customers earn WhopperCoin when they buy a Whopper. You can also buy it, give it as...
We Are Now Associated with EXP Realty
Jeffrey Chubb & the Chubb Realty Group announced today that they have joined EXP Realty, the Agent-Owned Cloud Brokerage. Chubb focuses on providing superior service to home buyers and sellers in the Boston Metro Market.
As the largest residential real estate brokerage by geography in North America, EXP Realty provides 24/7 access to collaborative tools, training and socialization for real estate brokers and agents through its fully-immersive, virtual campus Realty.
Jeffrey Chubb & the Chubb Realty Group is one of RE/MAX’s top teams in Massachusetts and the New England Region. In 2017, they represented 89 sides valued at over $42 million in transaction volume. Jeffrey is also a National Real Estate Coach for Club Wealth, the #1 Coaching Company for Real Estate teams in the country.
“The Chubb Realty Group has always been focused on providing superior service to their clients with innovative marketing approaches like their Guaranteed Sold in 29 Days Seller Program or their Home Equity Guarantee for home buyers. By joining EXP Realty and leveraging their expansive North American network and cutting edge technology, it allows our team to expand its marketing and service reach beyond the Boston Metro Area.”
said Jeffrey Chubb, team leader of the Chubb Realty Group.
Jeffrey Chubb Announces...
100 Years of Housing Architecture & Design
The oldest continuously inhabited homes in America are found in Taos, New Mexico, and they were constructed around the year 1600. The oldest surviving stone house in America is located in Guilford, Connecticut, and it was built in 1639. Just a year later, the Richard Sparrow House in Plymouth, Massachusetts, along with the Loomis Homestead in Guilford, Connecticut, were built. By the turn of the 20th century, many homes were being built in America with each decade seeing a new popular home style. Here is a look at some popular styles throughout the decades of the 20th century.
1900- Colonial Revival
While the Biltmore Estate, containing more than 178,926 square feet, was just five years old at the turn of the century, many people were buying Colonial Revival homes. While a very few one-story Colonial Revival homes were constructed, the majority have two stories. Originally, these homes were built with a symmetrical facade, but many had side porches added to one or both sides. Most have gabled roofs with extremely narrow eaves, but about 25 percent of them were constructed with hip roofs. One of the most common features of these large homes is a central front entrance that builders made even more prominent by accenting...
Driverless Cars affecting the Real Estate Industry
Are you ready for the driverless revolution? I am sure you have heard about how driverless car technology is being advanced at a fast pace with many believing we will see a flood of driverless vehicles on the road in less than five years. With this in mind, I bet you are surprised to hear that many believe that this transportation revolution will have profound effect on real estate.
Yes, you could almost consider driverless vehicles a real estate technology as industry experts are predicting some major changes to the real estate market when we see start to see cars without drivers. It will radically affect how you buy a home, use Realtors and invest in the industry. How is this possible? You are in luck as we explore three main ways our real estate future is about to change.
Where We Live and Play
Right now, location is high on your criteria list for a perfect home. Your real estate agent will not be surprised to see it at the top of the list. You want to be close to work to alleviate some of the commute time while being in an area that matches your own unique lifestyle.
Gina Michelle at Forbes has a great article going over five ways driverless...
Buying a Home With Bad Credit
Having a bad credit score does not immediately disqualify you from buying a home. Although it is a little more difficult to qualify for a mortgage with a below average score, it is not impossible. Fortunately, you have several options to choose from if your credit is less than stellar or worse. However, keep in mind it will cost you more over the life of your loan than someone who has good credit. Here are some of the many options available that will help you buy a home.
Federal Housing Administration
Also known as the FHA, this government agency helps low-income individuals with bad credit buy a home. In many cases, the FHA will help you if your credit score is as low as 580. The agency is popular among first-time homebuyers since it allows down payments as low as 3.5 percent of the purchase price. If your credit score is lower than 580, the FHA lone requires a 10 percent down payment. Remember though that the lower your credit score, the higher your interest rate.
Important Facts About the FHA
Many people think the FHA provides the actual funds to purchase a home. The truth is, the FHA only insures the loan in the event you default on your mortgage. A bank or lending institution...
50 PLACES YOU CAN VISIT WITH YOUR CHILDREN THIS SUMMER IN BOSTON
Are you planning a permanent move to Boston?
Are you thinking of buying a home in Boston or in the cities around Boston?
Looking to experience Boston neighborhoods?
Do you already live in a city or have a home nearby?
Do you have family, children or grandchildren that will be by for a visit?
If so, it’s a good idea to know where the best places in town are to have a little fun, grab a snack, or take in a show.
Museum of Fine Arts
465 Huntington Ave
Boston, MA 02115
The MOFA offers art classes and self-guided tours with over 500,000 pieces of artwork on display. Members get in for free. Regular admission is $25 for adults and children under six can get into the Museum for free. Kids between the ages of seven to seventeen can get into the building for free after three in...
Boston Continues to Attract Millennials
Niche ranks cities using a complex grading criteria when looking at crime, public transportation, nightlife, recreational facilities, quality of life, and other aspects that make a neighborhood a fun and exciting community. Boston is number eight on this list for cities in the country that are attracting millennials says Biz Journals. If you have been on the Boston home search, you will recognize the extremely high demand for properties in and around Boston. Here are some of the reasons for Boson's popularity with Millenials.
The Attraction to Boston MA
The Boston real estate market is strong for 2018. Boston MA gives residents the chance to live in a variety of diverse areas all known for as top entertainment and cultural zones. There are fine dining establishments, museums, historical sites, shops, and sporting facilities to tour or visit when living in and around the city center. All of these areas get an A+ rating from Niche making Boston MA an extremely attractive place for couples, families, and individuals to live. The extremely high ...
Being a Million Dollar Buyer
You live in Boston and have a budget of $1 million to $1.2 million for your new home. There are many different Neighborhoods of Boston that are available to your healthy budget, however each area has a very different level of buying power.
Here is what your budget bought in the last 6 months.
The Back Bay – 10 condos and/or Brownstones sold with an average square footage of 1,083 square feet. 8 units had 2 bedrooms with the other 2 units being 1 bedroom. 2 units came with deeded parking spaces. Average Sales Price: $1,119,000 - Average Listing Price: $1,119,800 – 99.93% List to Sale Price Ratio.
The Waterfront – 12 condos sold with an average square footage of 1,183 square feet. Bedrooms were split with 6 units having 2 bedrooms and another 6 units having 1 bedroom. 3 units came with deeded parking spaces. Average Sales Price: $1,093,833 – Average Listing Price: $1,134,908 – 96.38% List to Sale Price Ratio.
The South End – 20 condos sold with an average square footage of 1,148 square feet. 2 units were 1 bedroom condos with 17 units being 2 bedroom units and 1 unit being a 3 bedroom unit. 5 units came with deeded parking spaces. Average Sales Price: $1,093,152 – Average Listing Price: $1,086,745 – 100.59% List to Sale Price Ratio.
South Boston – 29 condos sold with an average square footage of 1,538 square feet. 19 units were 2 bedroom condos with 10 units being 3...
3 Tips For Buying a Home
Boston is a diverse and beautiful coastal city with wonderful job opportunities and access to high quality health care. The city also has a strong focus on education and shopping, so it isn’t surprising that over 50% of the homes in Boston are owned, rather than rented.
If you are thinking about moving to the area, you have made a great decision – but it is likely that you are feeling a little overwhelmed at the prospect of buying a new home. After all, buying a home is a long process, but if you are aware of a few things, such as homeowner’s insurance, then the process will be much easier.
Here are three smart tips to help you buy a new house.
Learn About Relevant Key Terms
The first thing that you should do is learn all of the key terms that could come up while you ...
Caste Island - in South Boston
Castle Island is located on the most Eastern tip of South Boston in the City Point Neighborhood. Over the years it has become a great place to spend an afternoon by yourself, with friends or your family!
This amazing asset to our community can be reached via public transportation as well as by private car as there is an abundance of parking. It's a nearby destination to escape the bustle of the city, and to obtain great views of Boston Harbor and Logan Airport.
Sullivan's take-out only restaurant (seasonal) is housed at the base of the old fort, and is very popular with the local residents. Over the years they have amassed a following with a crowd always forming for their first opening of the year. At Sullivan’s they have a menu that is sure to satisfy every diner as they have everything from Fried Clams to hot dogs and Ice Cream.
One of the best features of Castle Island is the crescent-shaped path that stretches out into Boston Harbor and creates an artificial pond known as Pleasure Bay. Many joggers and pedestrians enjoy walking the entire length of the byway, all the way around back to Day Boulevard and the parking lot (about 1 mile). An interesting part of the walk is crossing over two...
Boston Real Estate Market is Setting Records in 2018 Despite Low Inventory Levels
Single-family properties and condos in Cohasset, Medford, and Boston homes for sale are going like hotcakes due to the lack of inventory in the local real estate market. 2018 is something like a carbon copy of last year with single homes selling for a median of over $900,000 says the Boston Globe. This could be the best year to be a property owner in the Greater Boston Area.
This figure is a record for this home type in the area. Condos and Brownstones saw increases in median sales too, but these numbers are likely a direct result of fewer properties for sale. Several new developments in downtown Boston and Cambridge will help ease the strain on buyers, but for now, the market is a seller's paradise with multiple offers and higher asking prices becoming the trend. The city is growing and expanding with more people settling in neighborhoods around the city like Winthrop and Brookline to work at the new Amazon headquarters.
Boston Real Estate Market
A vital statistic in the overall health of a real estate market is how much inventory...
About five years ago when my wife and I moved to the city of Medford MA, we were not yet familiar with what Medford had to offer in the way of dining.
After looking for homes for sale, we settled on Medford. Conveniently located just 5 miles away from downtown Boston with easy access to the city via the Orange Line and Commuter Rail, we tended to head into the Back Bay and South End when we had and urge to dine-out.
REAL ESTATE IN MEDFORD
Medord MA has had solid real estate growth over the years. With an easy commute to Boston, Medford is expected to have addtional growth if Amazon chooses Boston as its new home. We anticipate the already low inventory in Boston proper to have a positive effect on the surrounding areas.
Fish Out of Water
Then came the dreaded winter of 2015. Both my wife and I had spent our adult lives as city condo
owners. Needless to say our first foray into homeownership (no snow removal in the HOA fees) had us looking like fish out of water.
My wife was pregnant at the time and unable to assist with the relentless shoveling duties that winter. It must...