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South Boston Condo Market Heats Up In Q1 2012

In 2012 the average sales price of a condo in South Boston rose 6% while median price remained pretty much the same.  Total sale volume increased by a healthy 24% and the total market value sold jumped 31%. March was a very strong month for real estate sales in the city of Boston as a whole and all signs point to one of the best Spring markets we’ve seen in recent years.  You can view the full report below:

Q1 2012

Lowest Price: $180,000  Median Price: $385,000

Highest Price: $1,277,500              Average Price: $410,189

Total Market Volume: $36,506,813

Total Sales Volume: 89

 

Q1 2011

Lowest Price: $99,000     Median Price: $395,000

Highest Price: $695,000  Average Price: $386,424

Total Market Volume: $27,822,500

Total Sales Volume: 72

 

Data From MLSPIN

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Categories: Boston, Buying, Market Report, Selling.

By RobertLNichols
— May 2, 2012 at 7:56 pm

Quincy MA Real Estate Market – Volume Up 24%

Overall Quincy, MA looks to be poised for a recovery based on the 2012 Q1 numbers relative to Q1 2011. While the median price for a home fell by 4%, the total sales volume increased by 24%. This is a healthy sign that the market will soon recover. As more buyers look to purchase residential homes, the inventory will continue you to shrink and hopefully a reduced supply , coupled with strong demand will begin to yield increased home values. It will be interesting to see what the Q2 numbers look like for Quincy MA in 2012. You can view the full report below.

Q1 2012

Lowest Price: $97,001Median Price: $284,375

Highest Price: $1,225,000Average Price: $297,303

Total Market Volume: $49,946,855

Total Properties Sold: 168

 

Q1 2011

Lowest Price: $10Median Price: $296,000

Highest Price: $1,050,000Average Price: $309,452

Total Market Volume: $42,085,536

Total Properties Sold: 136

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Categories: Agents & Brokers, Buying, Market Report, Selling.

By RobertLNichols
— April 30, 2012 at 5:58 pm

Boston Real Estate Market Q1 Shows Signs of Market Rebound

The Boston Real Estate market is showing signs of a rebound following some healthy growth in Q1 2012 vs. Q1 a year ago. The most telling figure is the sales volume. In 2011 a total of 828 properties sold totaling $446,658,862 in market volume. In 2012 there were 967 properties sold, totaling $527,030,057 in market volume. This represents a 17% increase in sales volume. The median sales price also increased from $351,000 a year ago to $375,000, a 7% rise. While the average sales price did not have quite the increase the volume did, the numbers show the Boston market is healthy and poised for rebound in 2012. You can view the full report below.

Q1 2012 Numbers
Lowest Price: $54,900 Median Price: $375,000
Highest Price: $12,500,000 Average Price: $545,016
Total Market Volume: $527,030,057
Total Properties Sold: 967

Q2 2011 Numbers
Lowest Price: $29,200 Median Price: $351,500
Highest Price: $8,750,000 Average Price: $539,443
Total Market Volume: $446,658,862
Total Properties Sold: 828

All Data Gathered From MLSPIN

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Categories: Agents & Brokers, Buying, Selling.

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By RobertLNichols
— April 30, 2012 at 3:59 am

Increased Traffic Means You Can Sell Faster

Since launching on Thanksgiving day 2011, my team and I have seen a healthy and steady increase in new visitors to MungoList.com, while helping several home owners and agents sell their homes and listings quickly. Whether you’re a seller looking to sell on your own, or a real estate agent looking to increase your listings exposure, increased traffic on MungoList means more views for your listing. One of the keys for helping to increase traffic to our site has been our SEO (Search Engine Optimization) strategy.

Every Listing on MungoList has a unique SEO  friendly URL that links directly to your listing and your contact info so that all prospective buyers can contact you directly. The key is that the property address is in the URL so when buyers use search engines to perform searches in your neighborhood, your listing will appear in the search results. As we continue to grow, we will always be looking to improve our strategy to help you increase your listings exposure and sell faster!

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Categories: Agents & Brokers, FSBO, Selling.

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By RobertLNichols
— April 27, 2012 at 3:55 pm

Just Sold on MungoList.com Equals Thousands In Savings

We just helped another Home Owner sell and save in North Hampton, MA. Kim Listed her home on January 31st 2012 and accepted an offer on March 13th. Kim Saved over $3775 in commissions and fees and sold in less than 3 months.  MungoList.com provides the most efficient way to sell a home for do it yourself sellers. List and save with MungoList.com.

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Categories: Uncategorized.

By RobertLNichols
— April 26, 2012 at 5:36 pm

Can’t Buy Today?…You Can Still Buy Tomorrow

In today’s climate, mortgage lenders have become very conservative about how they lend their money. As a result, there are many buyers who do not qualify for a mortgage.  Getting declined for a mortgage can be discouraging but that doesn’t mean that you have to give up on your quest for a home. If your credit is not up to par you may only need to take a few steps to improve it to enough to purchase a home. A good mortgage lender or credit counselor can tell you what steps you need to take to get on track. No matter how bad your credit report may appear you can always take steps to make it better.  For some buyers this may take a few months and in other cases a few years, but at the end of the day, if you are disciplined and follow the steps outlined by your mortgage pro or credit counselor you will be ready to purchase your first home and able to take a significant step towards building wealth!  Here are some quick tips from MyFico.com that can help you improve your credit score:

  •  Pay your bills on time.
  • If you have missed payments, get current and stay current.
  • Be aware that paying off a collection account will not remove it from your credit report. - It will stay on your report for seven years.
  • If you are having trouble making ends meet, contact your creditors or see a legitimate credit counselor.
    This won’t rebuild your credit score immediately, but if you can begin to manage your credit and pay on time, your score should increase over time. And seeking assistance from a credit counseling service will not hurt your FICO score.
  • Keep balances low on credit cards and other “revolving credit”.
  • Pay off debt rather than moving it around.
  • Don’t close unused credit cards as a short-term strategy to raise your score.
  • Don’t open a number of new credit cards that you don’t need, just to increase your available credit.
    This approach could backfire and actually lower your credit score.
  • If you have been managing credit for a short time, don’t open a lot of new accounts too rapidly.

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Categories: Buying.

By RobertLNichols
— April 25, 2012 at 6:54 pm

Go Hard or Go Home

This Spring has been one of the most competitive I’ve seen in years. As a result many buyers feel like they can’t catch a break. In many markets throughout the country, the Spring market has given birth to property bidding wars of the like we have not seen in years. This turn around has been fueled by historically low interest rates, improvement in the unemployment numbers, lower home prices relative to the peak and increased optimism about the economy.

For home buyers it is important to understand how to make an offer. The very first step in the process of making an offer is understanding the market value of a property. Before I a make an offer for any of my clients I perform a CMA (Comparative Market Analysis). This provides a real time valuation of a property based on the sales comps within a 1 mile radius of the subject property. Once you know the indicated value based on the CMA, you have to figure out how much you’re going to offer. If there are multiple offers, sometimes you have to go slightly above the value in order to ensure you get the property. It is up to you to asses how much you can afford relative your pre-approval and comfort level. But at the end of the day you have to make your best and final offer from the beginning. Don’t make a low ball offer or an offer less than your willing to pay and hope that no one else makes an offer. In this market you have to be aggressive or you can easily end up on the losing end. Sellers don’t always ask for a best and final offers in the case of multiple offers, so its best to make a strong offer right out of the gate.

The Spring market is the peak for sales activity so it is imperative that you preset strong offers to ensure you get the home of your choice.

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Categories: Buying.

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By RobertLNichols
— April 24, 2012 at 8:00 pm

The Top 4 Reasons Your Home Isn’t Selling

If you are trying to sell your home but it continues to linger on the market, here are the top 4 reason why:

1. Pricing – If your home is overpriced, you will miss out on many buyers that would have viewed your home had it not been overpriced. If you price a home too low, you will increase the likelihood of a bidding war, which is great for any seller. If you price it too high your home may linger on the market and become less attractive to buyers. The longer a home sits on the market the less a buyer is interested in viewing the property which decreases the sales price in many cases.

2. Presentation – A huge part of selling residential real estate, is making sure  a home looks its best. This includes, the landscaping, staging, interior paint colors, lighting and removing all clutter. In addition, the right photographs will capture your homes character and will help your listing standout.

3. Exposure – If you put a For Sale By Owner sign on the front lawn and post a quick classified on criagslist, chances are you’ll be waiting a very long time to sell your home. In today’s real estate market over 90% of buyers start their search online and as a seller you must find a way to showcase your home to these buyers. The fastest and best way to make to target your audience is to sure your home is listed in your local MLS as well as the top real estate search sites. This includes, Realtor.com, Zillow.com/Yahoo Real Estate, and Trulia.com. When a home is listied in MLS it is usually syndicated to these and other sites as well. The only way to get your home in MLS and Realtor.com is to go through a realtor. Most buyers use these sites to find a home so it is imperative that you leverage the power of MLS and public facing real estate search sites in your quest to sell.

4. Incentive – Because most buyers work with a real estate agent, it is in your best interest to give these agents an incentive to show your home vs. the competition’s.  Lets say you and your neighbor decide to sell at the same time; you both have similar homes in size and condition, but your neighbor is offering a 3% commission and you are only offering 2%. Take a guess which house buyer’s agents will try to sell first.

If your home seems to be lingering on the market, take a look at these 4 factors and you should be able to quickly identify why your property hasn’t sold. For further assistance contact a MungoPro and they will be able to assist you in all areas of selling your home and ensure  you sell quickly.

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Categories: FSBO, Selling.

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By RobertLNichols
— April 23, 2012 at 7:07 pm

When It Comes Time to Sell, Make Sure Your Landscaping Sends The Right Message

While great landscaping can make the right first impression and even increase a homes value, bad landscaping, or a lack there of, can really effect how fast you sell and your final sales price. Landscaping is something that is commonly overlooked, but studies have shown that homes that are professionally landscaped sell faster and help increase a neighborhoods home value, especially if the majority of neighbors do the same. If you are looking for a quality landscaper a MungoPro can assist with pointing you int the right direction as well as providing some practical tips to help you get started.

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Categories: FSBO, Selling.

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By RobertLNichols
— April 23, 2012 at 2:23 am

Massachusetts FSBO Assistance

If you are looking for an alternative way to sell your Massachusetts home, you should really consider the MungoList.com approach. As a seller, you are able to list your home is MLS for free and work with a real estate professional as a consultant at a rate of $50 per hour. A MungoPro can assist with tasks such as:
Photographing Your Property
Comprehensive Price Evaluation
Document Preparation
Document Review
Scheduled Showing Attendance
Open House Attendance
Smoke/CO Certification
Final Water Reading
Home Inspection Attendance
In addition if an agent finds you a buyer you only pay that agent a commission. If you find your own buyer you pay $0 in commissions. This is a unique alliterative and the most efficient way to leverage the expertise of a real estate professional to help you sell for more.

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Categories: FSBO, Selling.

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By RobertLNichols
— April 21, 2012 at 3:10 pm