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RE/MAX Leading Edge HOUSING REPORT April 2017

2017-05-04T19:42:25-04:00

Market Summary

“The Greater Boston Housing Market continues to stump frustrated buyers,” reports Linda O'koniewski, CEO of RE/MAX Leading Edge. “Massachusetts’ low unemployment rate and population growth are outpacing the northeast and contributing to the demand for housing that just doesn’t exist. Buyers are being forced to locate further away from the Boston hub or else compete with the likes of dozens of offers. It has never been more important to have a skilled and experienced real estate professional to guide you through the process.”

April sales of combined condo and single-family homes in massachusetts decreased -13.9% year-over-year. Inventory remains down -32.7% and the number of days on market is also down -28%. Median sale prices remain up +4% while pending sales are up +3.8%.

read the full report Here

Breaking News for Real Estate Prices in Greater Boston

2014-02-20T16:05:49-05:00

Breaking News for Real Estate Prices in Greater Boston
by Linda O’Koniewski

Homeowners in and around the market that RE/MAX Leading Edge calls home, Boston and surrounding towns, will be thrilled to hear that home prices have reached an historic high.

Yes, your home is most likely worth more than it was at the height of the market, which we have identified as July, 2005 locally. According to MLS data, the median sale price of single family homes in our market area are worth more as of January, 2014 than they were at the high point of the market almost 9 years ago.

Home prices dipped to their lowest point in March of 2009 after the financial crisis (stock market crash and housing decline), which began a serious downward spiral in October, 2008.

The good news for folks who will be selling is that if they have improved or maintained their property condition, they will likely fetch more money now than ever before in the history of real estate.

What’s driving home prices? A strong local economy, consumer confidence, low interest rates and sparse inventory combine to push prices for Sellers.

Folks who bought in 2003, 2004, 2005 and 2006 who were feeling “stuck” in their houses because they could not sell their home without bringing money to the closing table are in the best position they’ve been in since they bought their home.

But good news for Sellers is always bad news for Buyers who have been left frustrated in this market which often sees multiple offers on properties leaving some Buyers, well homeless so to speak.

For Sellers looking to maximize their sale price, or Buyers seeking good strategies on how to operate in this market, RE/MAX Leading Edge has 175 agents who cover Eastern Massachusetts and New Hampshire who can guide you at the highest level.

Get Ready To Sell! Sizzling hot spring market for sellers who create the right product for market.

2013-04-12T08:29:09-04:00

The following post was written by Linda O'Konieweski and Printed in the March 22-28, 2013 publication of the New England Real Estate Journal.

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Successful agents will often be heard cautioning desperate buyers in hot markets with the following sage advice: “If you want this house, count on it selling significantly over asking, and the only way a seller will consider your offer is if you waive your home inspection and financing contingency because you are going to be competing against strong, cash offers. Maybe they’ll let you do a home inspection for informational purposes only. And by the way, did I mention that it’s very likely that the bank appraisal will come in lower than your offering price? Prices are ticking up and we don’t have comparable home sales at today’s new prices. So naturally you are going to have to put more money down than you expected to secure your mortgage and you need to be mentally prepared for the bank to tell you it isn’t worth what you are paying. Otherwise, don’t bother to place an offer, you’ll only be setting yourself up for failure and disappointment.”

When Walt Disney Designed the Perfect Town Was Melrose His Inspiration?

2012-05-18T15:09:01-04:00

By: Linda O'Koniewski

The Quintessential Perfect Place to Live and Work

Helping Buyers Focus - Too Many Options Paralyze Decisions

2012-05-04T15:10:21-04:00

Helping Buyers Focus - Too Many Options Paralyze Decisions

By Linda O’Koniewski

Years ago I heard an NPR story that I found enlightening as it related to real estate. An Ivy League economics professor who was studying how people made purchasing decisions discovered something most counter-intuitive. Her study was sparked by her Saturday romps through her New York City neighborhood, which often included a

stop at her favorite gourmet grocery store. This Economic Professor loved to visit the store, take in the aromas and admire the grand selection of fine foods and quality products. She observed that there were over 200 different kinds of mustards at this specialty shop.

What Should Your House Smell Like When It's For Sale?

2012-04-27T11:56:35-04:00

What Should Your House Smell Like When It’s For Sale?

By Linda O’Koniewski

A common mistake sellers make is trying to create special odors with candles or sprays when they are selling their house. There are two problems when this happens: allergies flare and that can turn off some sensitive buyers, and others wonder, “What are they hiding?’

When selling your house, buyers do not want to smell anything but clean. No potpourri, no candles, no air fresheners, no apple pies, no bread, no cooking smells (fish and ethnic foods especially), no pet or children’s odors. Prospective buyers are naturally suspect if they feel you are masking something unpleasant.

According to the amazing stager Blair Hamaty of Setting the Space, “If you can smell it, you can’t sell it. A seller’s lifestyle is their lifestyle, but someone who doesn’t share that lifestyle won’t buy that home. Staging smells are clean, fresh, open windows. A home can’t be musty; people are scared to death of mold. Fresh paint is a clean smell and it helps sell a property.”

Walking into a home that smells like the cleaning crew just left is a great sensation. Cleaning products made of citrus create the desired effect. I’ve heard my mother tell clients, “If you don’t have time to clean just spray the Lemon Pledge.” We carry it in the back of our cars and have been known to deploy it in open houses when needed.

Inspire a Bidding War - Part 4

2012-03-30T15:04:01-04:00

Inspiring a Bidding War Part 4 by Linda O'Koniewski

Strategy for a bidding war must include setting a time frame for reviewing offers. Sellers should see a lot of action in both strong and weak markets if their house comes on the market new with the following details: in excellent condition, staged, painted to appeal to buyers, and accompanied by a powerful internet presence, including exemplary photographs and priced so that all buyers looking in that price range perceive it to be a good value. Read More »

Inspire a Bidding War - Part 3

2012-03-23T13:06:10-04:00

Agent Strategies for 
Inspiring a Bidding War

Including "Bribing" the Children 

By: Linda O'Koniewski

Okay, the seller has been super cooperative and has totally taken direction and advice to maximize their equity. The sellers’ agent has a critical job ahead to create the perfect storm of real estate. The agent can’t be a slacker and just throw the home in MLS. A lot of work and strategy is required.Read More »

Inspire a Bidding War - Part 2 by Linda O'Koniewski

2012-03-16T14:40:28-04:00

Allowing a seller to go on the market for significantly more money and in compromised condition is a recipe for failure. We fail our clients when we empower sellers to act in their worst self-interest by letting them dictate terms that doom the transaction.

This may appear superfluous, but if you are trying to create a bidding war, addressing every minor detail of the property is crucial. RE/MAX International puts out a great three-minute training video for agents about “staging a closet.” For many homeowners and agents, staging a closet is over-the-top. But when you hear Trish Pachak of “We Stage Colorado” speak, she has an insider’s view that is invaluable. Read More »

Inspire a Bidding War - Part 1 by Linda O'Koniewski

2012-03-02T14:47:04-05:00

Inspire a Bidding War

Every homeowner dreams of having a bidding war on their property, but few are willing to actually do all the things necessary to create a bidding war. Bidding wars are easy to create in markets that are on the rise and when there is low inventory in price ranges that have high demand. But how do you create a bidding war when the market is slow? There are no guarantees, the market will speak, but we have developed effective strategies to create urgency and garner at top selling price for our seller clients.

This Is Not A Ranch - by Linda O'Koniewski

2012-02-24T16:46:30-05:00

This Is Not A Ranch

This is not a ranch. Why make that declaration? Because finding homes mislabeled in our MLS system is a problem. Someone searching for a beautiful Arts and Crafts Bungalow would never find this home. The seller is missing good buyers and the value of the home is not being marketed to the right audience. It is critical that agents sharpen their architectural vocabulary and knowledge. A gorgeous Colonial Revival is not a Center Entrance colonial just because the door is in the center of the house.
Read More »

It All Matters, Every Move and the Timing of Each Move - by Linda O'Koniewski

2012-02-10T17:21:07-05:00

By Linda O'Koniewski and Alison Socha

Approaching every real estate transaction like a chess game ensures that every move, every statement, every representation is meaningful. Like a good chess game, each move builds upon the next to capture the king, or for our purposes, to close a deal. Our clients pay us handsomely and trust that we will not only do what we say we will do, and follow up in their best interests to every inquiry, and market the home in the best light, but also that every word that comes out of our mouth, and every piece of advice we give, is thoughtful and strategic.