Posted by Jeffrey Chubb on Monday, January 30, 2023 at 6:44:36 PMBy Jeffrey Chubb / January 30, 2023Comment
$700k in Lynn
In this video we are going to be talking about and taking a look at homes in Lynn and see what a budget of approximately $700,000 would get you.
Hi, my name is Jeff Chubb and I am a recovering investment banker turned real estate agent that has sold more then a 1,000 houses and am one of the agents in the state of Massachusetts. If you have questions about the market or are thinking about making a move, then I would love to chat with you. Visit me at: www.YouTubeRealEstateAgent.com.
As I mentioned, we are looking at three houses in Lynn… I would love to hear in the comments section below which house you would choose. Consider it your HGTV moment. You have to choose from one of the three!
The first place we are headed to is 21 Bradford Street which is on the Lynnfield and Peabody line. This house is just minutes from 95 or route 1 making commuting a little easier! This is a 4 bedroom, 2.5 bath Colonial that is 2,151 square feet and nestled on a 1/3 of an acre.
This house home has a lot of updates with new windows in 2019 and a large composite deck that overlooks the spacious fenced in yard. As we walk in, you will be welcomed by a large foyer that sports hardwood floors that lead into a large Living Room with fireplace and picture window. The downstairs also sports an office, Dining Room and Kitchen with white cabinets, stainless steel appliances. An amazing and under appreciated perk is the first-floor laundry...
Posted by Jeffrey Chubb on Monday, January 23, 2023 at 3:19:18 PMBy Jeffrey Chubb / January 23, 2023Comment
The Party is over for the “Real Estate Market is Going to Crash” folks
Sorry. For all of you “The Real Estate Market is Going to Crash” doom and gloom folks, it’s time for you to collect your belongs, and put on your jacket, because the party is about over.
Don’t believe me, okay. Let’s talk some data… But first,
Hi, it’s Jeff Chubb. I am a retired investment banker, turned real estate agent that has sold more than a 1,000 homes and am one of the top agents in the state of Massachusetts. If you have questions about the market or are thinking about making a move, then I would love to chat with you. Visit me at: www.YouTubeRealEstateAgent.com.
So it looks like this is going to be more of a small minor correction then a crash. And yes, it is important to say that it depends on location. Some markets are going to perform better then others.
But these doom and gloom folks have been saying the entire market was going to crash for close to a year now… Which I have never gotten. Could you imagine if a meteorologist got on TV telling you that the average temperature in the U.S today was going to be 64 degrees.
That would be stupid. But all of these media folks just can’t comprehend that like the weather… Real estate is also local.
So, what happened for me to come out and start screaming from the rooftop.
The financial markets are now fully pricing in a quarter-point interest rate hike in February as Inflation slows.
Not a half point. A quarter point.
That means that the tightening is coming to an end. The toughest days are behind us as we head into our most active market where demand naturally...
Posted by Jeffrey Chubb on Sunday, January 22, 2023 at 8:30:36 PMBy Jeffrey Chubb / January 22, 2023Comment
Home Sellers Options when house isn’t selling
(Jeff) In this video we will be talking about Home Sellers and their options when their house is not selling in this changed market.
(Jeff) Hey, it’s Jeff Chubb I am a retired investment banker turned real estate agent that has sold more then a 1,000 homes and am here with (Sammy) and I am Sammy Illiopoulos, I am one of the top 300 loan officers in the United States and work with Guaranteed Rate.
(Sammy) Jeff, the market has changed a lot in the last 6 months of 2022. Seller’s went from being at the party and having an amazing time to well… Having the dreaded next day hangover.
(Jeff) Sammy, it’s true. Sellers are having to adapt to the new marketplace. It’s a market where buyers hold the upper hand in a lot of cases.
(Sammy) I was reading an article about how seller’s are starting to have to toss in the Kitchen sink and more in order to get their house sold. Jeff, what has your experience been?
(Jeff) The market has definitely slowed. What I am seeing is that the homes that are in good condition and priced right are selling. The ones that are overpriced and not in the greatest of conditions are either sitting or selling at BIG discounts.
(Sammy) That makes sense as the article I was reading mentioned that 42% of recent sellers have offered at least one concession to home buyers.
(Jeff) Sammy, that is a great point and what we are going to talk about. What are those concessions that sellers are offering and what are a seller’s...
Posted by Jeffrey Chubb on Sunday, January 22, 2023 at 7:43:04 PMBy Jeffrey Chubb / January 22, 2023Comment
Must knows when buying a Multi-Family
In this video we will be talking about the must knows when it comes to buying a Multi-Family property.
(Jeff) Hey, it’s Jeff Chubb I am a retired investment banker turned real estate agent that has sold more then a 1,000 homes and am here with (Sammy) and I am Sammy Illiopoulos, I am one of the top 300 loan officers in the United States and work with Guaranteed Rate.
(Jeff) Buying a multi-family can be a really smart investment as it will generate rental income while also allowing you to build equity.
(Sammy) But there are some things that you should consider and know before you jump into the multi-family game.
(Jeff) Okay, Sammy. Tell me what I need to know from a financing standpoint when buying a multi-family property.
(Sammy) You need at least 2 months of a cash reserve, but sometimes it can be as much as 6 months. Another factor that could make this vary is if someone has more than one property.
(Jeff) Okay, talk to me about what you mean by a “cash reserve”.
(Sammy) A reserve requirement would be your mortgage payment that includes taxes and insurance. Some banks will require 2 months up to 6 months for each property that you own or will own. So if your Mortgage is $3,000 a month and the bank requires a 3 month reserve, then you would need to have $9,000 in additional funds over...
Posted by Jeffrey Chubb on Friday, January 13, 2023 at 11:55:45 AMBy Jeffrey Chubb / January 13, 2023Comment
Buying an investment property
(Jeff) In this video we will be talking about Almost everything you need to know when it comes to Buying an Investment Property. And in the end, I am going to give a personal example as to my advice on when to buy an investment property and what to think of it as.
(Jeff) Hey, it’s Jeff Chubb I am a retired investment banker turned real estate agent that has sold more then a 1,000 homes and am here with (Sammy) and I am Sammy Illiopoulos, I am one of the top 300 loan officers in the United States and work with Guaranteed Rate.
(Jeff) So, Sammy, what are some of the best reasons why people purchase investment properties?
(Sammy) The big three of investments are stocks, bonds and real estate. Stocks and bonds are a lot more of a mindless investment than real estate, however Real Estate offers an investor more with passive income, builds equity over time and can be a major write off.
(Jeff) When initially thinking about making an investment, I think there are 4 things to consider. You need to consider what type of tenant you are looking for, what type of involvement you are looking to have, what type of property you are looking for and whether you are looking for a large monthly return or if you are looking for a large asset value increase return.
(Sammy) Alright, so I know the other two, but you are going to have to unpack ‘type of tenant’ for me.
(Jeff) Sure. Maybe the type of tenant you are looking for are college students. My family’s investment company specifically looked for Section 8 tenants as the rent premiums were higher and it was a guaranteed check each month. Maybe you are looking for short term tenants...
Posted by Jeffrey Chubb on Friday, January 13, 2023 at 11:54:23 AMBy Jeffrey Chubb / January 13, 2023Comment
Buying beats renting
(Jeff) In this video we will be talking about our How buying a home beats renting a home in NEARLY every scenario. But also stick around towards the end to hear when buying a house doesn’t make sense…
(Jeff) Hey, it’s Jeff Chubb I am a retired investment banker turned real estate agent that has sold more then a 1,000 homes and am here with
(Sammy) and I am Sammy Illiopoulos, I am one of the top 300 loan officers in the United States and work with Guaranteed Rate.
(Jeff) Well, Sammy… The saying goes that either way you are buying a house. But one is for you, the other is for your landlord. Am I wrong?
(Sammy) No, you are not wrong. When you look at the numbers it is just astounding. Take a look at this, After 3 years of of paying $3,000 in rent… You have paid $108,000 to a landlord. In 10 years, that becomes $360,000!
(Jeff) I am going to play a little devils advocate here. When I rent, I am not paying for the property taxes or insurance.
(Sammy) Oh yes, you are! It’s all built into your rental payment. What makes it even worse… You can’t write off the property taxes when you rent like you can when you own… But I know I am getting ahead of myself as we are going to talk about the tax benefits soon.
(Jeff) That is some big money! I mean… If your rent payment is $4,000 a month, then that is nearly a half million dollars in 10 years! That hurts.
Posted by Jeffrey Chubb on Friday, January 13, 2023 at 11:51:56 AMBy Jeffrey Chubb / January 13, 2023Comment
2023 predictions
(Jeff) In this video we will be talking about our predictions for Interest Rates, Prices, Sales & Inventory levels as well as the wild cards to be on the lookout for.
(Jeff:)Hey, it’s Jeff Chubb I am a retired investment banker turned real estate agent that has sold more then a 1,000 homes and am here with
(Sammy) and I am Sammy Illiopoulos, I am one of the top 300 loan officers in the United States and work with Guaranteed Rate.
(Jeff) Let’s start with Interest rates, which are pretty much all your world Sammy. What are your predictions for 2023.
Interest Rates:
(Sammy) Fannie Mae’s Home Purchase Sentiment Index (HPSI) showed some signs of life in November, posting its first increase in nine months.
(Jeff): Break that down for me… Because I don’t know what any of that means. Why does that matter?
(Sammy) Well the uptick is a good sign for things to come as both consumer homebuying and home-selling sentiment are significantly lower than they were last year, which, in my view, is unsurprising considering mortgage rates have more than doubled and home prices remain elevated. I expect interest rates to be much more stable compared to 2022, in addition to seeing potential drops from time to time. But for now, consumers should continue to expect mortgage rates to rise slowly.
I expect mortgage demand to continue to be curtailed by affordability constraints in 2023 as mortgage application volume in 2022 finished at 26 year low.
Posted by Jeffrey Chubb on Friday, January 13, 2023 at 11:48:26 AMBy Jeffrey Chubb / January 13, 2023Comment
YOUR Massachusetts Real Estate Market Update for the Month of January, 2023
- In this video, we will go over the Massachusetts Real Estate Market data for what happened in the month of December 2022 for Single Family Homes, Condos and Multi-family properties.
Hi I am Jeff Chubb – A recovering Investment Banker turned Real Estate Agent that has sold more then a 1,000 homes and is one of the states top agents. And if you like hearing about the MA Real Estate Market, then be sure to hit that subscribe button!
Let’s dig into the data and start with the Single-Family market
Single Family
- In December of 2022 we saw:
3,390 Single Family Homes Close
Average Sales price of $673k
- This represents a negative 2.1% Month over Month decrease in the average sales price and a 3.6% Year over Year average sales price increase.
- We saw the amount of unit sales down by 31.4% year over year.
That is the data. Let’s take a look at what it all means.
- The # of units sold is down. This is to be expected.
Take a look at the year over year comparison chart. This gives you a really good feel for the story of 2022. (graph 1)
We were running neck to neck with 2021 until June. And that is when the wheels started falling off if you will. And this all makes sense and was by design with the increasing of interest rates.
We are back to “Normal” market levels. This is an AMAZING thing. It is sustainable.
Posted by Jeffrey Chubb on Friday, January 13, 2023 at 9:36:16 AMBy Jeffrey Chubb / January 13, 2023Comment
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 Homes For Sale with very few Single Families and vice versa for West Roxbury.
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