The Boston2.com Real Estate Blog

MASSIVE HOUSING MARKET LIES That Are Costing You

MASSIVE HOUSING MARKET LIES That Are Costing You…

There is a lot of bad information about the real estate market that is being given right now… And in most cases it’s being given as opinion, rather than backed up by facts. 

For the last year and a half, I have seen countless people with rather large followings talking about how the market was going to crash. In all honesty, at what point do they have to atone for their lies, pandering and misleading? The best way to sum these guys up is equating them to the saying that a broken clock is right twice a day. 

Yes there are SOME markets around the country that have gone down. But as a whole, the Real Estate Market just took some of its biggest blows and is going to come out of 2023 looking… Okay. Let’s take a look at some of the things that these market crashers are claiming are lies. We will examine the issue and then see what the stats say. 

As we look at this all, remember that Real Estate is local. What’s going on in one market does not mean that it will go on in another market. Talking about the national real estate market is as dumb as talking about the national average temperature. 

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 I am here to help. 

If you have been around the block this year, then most likely you have heard the term “date the rate and marry the house”. Now this guy in particular is saying that this is a massive lie and that it’s...

Prepare For MAJOR CHANGES AHEAD in the Housing Market

Prepare For MAJOR CHANGES AHEAD - Housing Market Craziness

Change is constant. Especially when you look at the real estate market. 

It’s the end of the year. We had the self anointed smartest guys in the room telling us that the housing market was going to go down in 2023. It didn’t. And they are telling us more of the same that it’s going to go down in 2024. 

But the real estate market just took some of the biggest blows one could throw at it. 13 year record low in housing sales. Highest interest rates we have seen in more than two decades. A high inflation environment with slowing economic growth. 

So what’s the data saying about the market ahead? Is it a cautionary tale ahead? 

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 I am here to help. 

It’s a smaller subset of data, but the most recent nonetheless. I took the sales from December 1st through December 19th for Single Family houses in the state of Massachusetts. This totaled 1,638 closed units. So while the date range is small, it wasn’t a small sample size. 

Yes, this is Massachusetts data, But there is a good chance that if you are in a different state, that your data would look very similar. 

This data represents some of the last closings as we head into 2024. This is some of our best data to help us form opinions on what the market will look like as we head into the Winter...

How to Buy a House 2024

Steps to Buying a Housing 2024

It’s a new year. Home buyers are going to be fronted with a market that has given way to lower interest rates, but also one that has a limited amount of supply of homes for sale. There will be more multiple offer situations with better and better terms for sellers. 

Buyer’s it’s a seller's world… And we are all just living in it. So let’s discuss the steps to buying a house in 2024. Not only buying a house, but the steps on ensuring that you get the house that you love and that you are not having to search every weekend for 6 months putting in 25 offers. Because that process sucks. It sucks for you as the buyer, but also sucks for us agents! 

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 I am here to help. 

So you have decided you want to buy a house. The first step should be meeting with a real estate agent to discuss the home buying process as well as their credentials! You will want to ensure that your agent is not a newly licensed agent, because experience matters more than ever in a real estate market like this. 

During this meeting, the agent should go over the home buying process as well as the current market conditions. They will also talk to you about where you are looking and what you want in your dream home. Now if you have already bought a house before, then you are probably thinking… I don’t need to go over the process. That’s fine. But you will want to go over all the characteristics on how to make your offer stronger and more attractive to a home seller. And if you are...

Wall Street banned from Buying Houses?

It seems that the rich men north of Richmond have taken note that their constituents feel that housing prices are too high and that by darn it… They are going to do something about it. 

That’s why they released two pieces of legislation to deal with these greedy hedge funds driving up housing values. The two bills attacked the same route, but went at it in a different way. 

You have the “End Hedge Fund Control of American Homes Act of 2023” and the American Neighborhoods Protection Act”. It’s so cute how they come up with these names. For anyone who doesn’t think a name or title matters, then they really need to go look at the names of the legislation that our betters pass in Washington. 

IF… And that is an enormous IF. But IF one of these bills were to be passed, then would it actually do anything? Let’s take a look. 

But 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 I am here to help. 

We all know the deal. Affordability challenges have made it so that a lot of Americans can’t achieve the American Dream of Homeownership. But don’t worry, the Federal Government is here to help. It makes sense, because as we had discussed in a previous video, they are the majority of the reason as to why homeownership is out of reach for so many. 

Let’s talk about the End Hedge Fund Control act first. This bill would ban hedge funds from owning Single-Family houses and require them to sell at least...

Massachusetts Weekly Real Estate Market Report - December 11, 2023

YOUR Massachusetts Real Estate Market Update for the week of December 12th

Annnnnd we are back. Back to what we would consider normal for this time of year 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. 

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

Another weekend and another precursor to what is to come. One of our buyers submitted an offer this weekend… If you guessed that it was a multiple offer situation, then you would be right. 5 offers. 

They are getting to do a home inspection, but there was a $5,000 home inspection threshold on any issues. They put in $15,000 in appraisal gap coverage and obviously went well over the asking price. 

And now that we can come to a conclusion that last week was an outlier week for inventory and that it is back to its downward trend… We are really starting to get a picture of the 2024 year. 

Here is my best analogy which should hit home this time of year. The seller’s had been partying… Having a great time and this was essentially the time leading up to the first half of 2022. Second half of 2022 was the party winding down. 2023 was the hangover and now it seems like we just had a little hair on the dog and are about to ramp up again. And time will tell exactly how big of a rager of a party it’s gonna be in 2024. 

By the way, if you are an investor who is looking for off market houses, then reach out as I would love to hear what your buy boxes are. We get off market opportunities each and every day and I would love to play a little game of matchmaking. 

And just as a heads up,...

High Home Prices - Who is to blame?

Higher Home Costs. Who’s to Blame

I see it or hear it pretty much every day. Home prices are too high. Because they are too high, they will need to crash. So who or what is really to blame for these nosebleed home prices? It’s not a simple answer as there are a lot of elements that make up the problem of high home prices… And by saying the problem, that is obviously in the eyes of a home buyer… because home sellers absolutely love it! 

When doing the research for this video, I even saw one Wall Street economic advisor blaming the baby boomer generation! Talk about a surface level reasoning. He felt that baby boomers getting divorced and thereby needing two houses for every couple was the reason for high prices. No. That’s not it. 

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 and am one of the top real estate agents in Massachusetts. If you have real estate questions, then I am here to help. 

The simple reasoning is Supply and Demand. Demand is outstripping supply which is creating a low inventory environment and a market of scarcity. Any time resources are scarce, then prices go up. 

But WHY is this the case? Again, there are many foundational reasons that contribute to higher prices. It’s not just one. And I should also mention that I personally have benefited from most of them. I am not saying to get rid of them or even change them. The goal of this is to shine the light on the real culprit of why housing prices are high. Then from there the conversation can continue on if we want to fix it and how...

It's Housing Inflation. Not Housing Appreciation

It’s Inflation. Not Appreciation. 

Question for you… How do you talk about prices and them going up? I mean, let’s take my Diet Coke for example. The cost of this diet coke has gone up by at least 50 cents this year. So if you and I were talking about prices, then would you say to me that the diet coke has appreciated 50 cents this year? 

Probably not. That would kind of be dumb. Then why is it that any price gains that we talk about when it comes to Real Estate are always appreciation? Wouldn’t it be fair to say that price gains for real estate are inflation plus appreciation? 

But 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 and am one of the top Realtors in Massachusetts. If you have real estate questions, then I am here to help. 

I think this is the major reason that people are constantly saying there is a bubble in real estate. They see the prices going up and up and up. I mean it’s not just real estate it’s all around us. 

Check this out. https://cms.zerohedge.com/s3/files/inline-images/inflation2008-2023a_0.png?itok=clOXEISa

It’s a bar graph for prices for Consumer Goods and Services in the United States. 

So should we say that the cost of Hospital Services have appreciated by 99.8%? Or how about the cost of college appreciating 64.4%? I mean both are investments, right? One is an investment in our health with the other being an investment in our knowledge and thereby our...

Boston, MA Housing Market in Trouble?

Boston, MA Crash?

A video on YouTube popped up on my feed titled Boston, MA in Trouble? That one put me back… Immediately started thinking, what did I miss? Which led me down the rabbit hole on sales data and analyzing one of the biggest cities in the country. Let’s dig into this. 

But 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. I get calls, text and emails from folks just like you who are looking to make a move. So, whether you are looking to buy in the next 9 or 90 days, then it doesn’t matter. I would be honored to help you. You can find my information in the description below or visit YouTubeRealEstateAgent.com and fill in your info and then we will reach out to you. 

First, I should point out that the channel and the real estate agent on it was from Maryland. And he was interviewing another agent in the Boston market. And while scrolling through Maryland's agent videos… I got the sense he was into click bait and panic porn.

Let’s get going with the data, but spoiler alert… The Boston Market crashed… But probably not how you think. 

So let’s take a look at a Quarter over Quarter analysis on the sales, average prices and the inventory levels in Boston. 

In the first quarter of 2023, Boston sold 721 condos for an average sales price of $1,044,914. And at the end of the first quarter of 2022 there were 787 condos on the market.

This is compared to the first quarter of 2022 when we had 938 condos sell for an average sales price of $1,007,225....

Massachusetts Weekly Real Estate Market Report - December 3, 2023

YOUR Massachusetts Real Estate Market Update for the week of December 4th

Ahhh… I didn't see that coming. Just a shocking development when it comes to inventory this week. 

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. 

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.

So the decrease in interest rates is working… This was a busy weekend. And it wasn’t just for me. One of the offers that we got accepted this week was going up against six other offers. 

And in case you were wondering. He was able to do a home inspection, but we had to put a higher inspection threshold amount and he also offered appraisal gap coverage. And obviously went over the asking price. Just a heads up for Spring buyers… It looks like it’s about to get crazy. 

By the way, if you are an investor who is looking for off market houses, then reach out as I would love to hear what your buy boxes are. We get off market opportunities each and every day and I would love to play a little game of matchmaking. 

And just as a heads up, these off market opportunities are cash or hard money only investments. No conventional financing is allowed. 

Let’s get into it all and jump into the Single-Family market stats.

You can kind of see it here....

Massachusetts Real Estate Market Update - December 2023

YOUR Massachusetts Real Estate Market Update for December 2023

The best way to say it is that November was a solid month in the Market. It was a great month for most… Unless of course if you are one of those people praying for a housing crash to happen. If that’s you, then this month and this data is going to kind of suck. 

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.

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 November of 2023, we saw 2,953 Single Family homes sell for an average sales price of $735 thousand dollars. 

I mean that was no record setting month, but it was right in line with what we saw in October. The 2,953 Single Families that sold was 11.9% off of last year’s sales numbers when we saw 3,352 homes close. 

Don’t get me wrong. I am not celebrating these numbers. But I am recognizing that they could be a lot worse! The 11% year over year decrease is a heck of a lot better then September when we saw a 26% year over year decrease in sales! 

Like I said last month. At this point we just need to embrace the suck when it comes to the amount of sales in the marketplace. This isn’t going to get much better in the near future. 

Sales and prices are two factors that don’t work in tandem. This monthly data continues to prove that. 

There we go. The year over year appreciation rate has come back to earth....