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For those with second homes, summer can offer the opportunity to cash in on your property by renting out. But, before you put your listing up on Airbnb, ask yourself the following 4 questions. Are you willing to be on call 24/7 As a property owner, you’ll have to be on call to make repairs … Continue reading What To Know Before You Rent Out Your Home This Summer

Pending home sales rose for the third consecutive month in April, reaching their highest level in over a decade. According to the National Association of REALTORS, all major regions experienced an increase in contract activity aside form the Midwest. The Pending Home Sales Index went up to 116.3 in April from an upwardly revised 110.7 … Continue reading Pending Home Sales Hit 10-Year High

Relentless supply constraints and home price growth outpacing wages are testing the patience of homebuyers this year, but existing-home sales are still on track to come in at their highest pace since 2006, according to an economic forecast forum at the 2016 Realtors® Legislative Meetings & Trade Expo. Among the topics addressed were: the growing burden … Continue reading Home Sales Forecasted to Have Best Year Since 2006

Bicycle-friendly amenities are contributing to a surge in property values  for communities everywhere, marshaled by developments in urban centers and suburban outposts that accommodate “active” transportation. “Today, bike trails, bike lanes, bike-share systems, and other forms of active transportation infrastructure are helping spur a new generation of ‘trail-oriented development,’” states a recently released report by the Urban Land Institute (ULI) that profiles 10 such developments.

New home sales data released this week showed that sales were 16.6 percent higher than March when comparing the seasonally adjusted annualized rates, and 23.8 percent higher than last year. This news comes from estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. The median sales price of … Continue reading New Home Sales Soar Higher

Restoring a historic house is no small task. However, it’s definitely a worthwhile endeavor. Untouched fixer-uppers usually include period detail unscathed by previous renovations. However, special care must be taken when dealing with old structures and keep in mind that old houses are full of surprises and costs can start adding up. So here are a few tips and tricks on what to expect and what to look for when restoring a historic house.

Despite a rapid increase in home prices, mortgage rates have dropped to their lowest point in three years. As of Tuesday, the average rate for a 30-year conforming mortgage nationally was 3.6 percent, down 2 points from last week. This drop means a 6 percent increase in buying power. There are disadvantages to lower mortgage rates however. Credit availability declines marginally as the rates decline. With a small margin, lenders become more risk averse so indicators of credit tightness like the average FICO scores have gone up as rates have gone down.

The Greater Boston Association of Realtors has released the local market updates for the first quarter of 2016 and aside from some high condominium pricing; the real estate market in Wellesley is not looking too bad! The supply of homes for sale in April was higher than March, indicating that people are now putting their … Continue reading Wellesley Market Update : First Quarter of 2016

The Greater Boston Association of Realtors has released the local market updates for March 2016 and the real estate market in Brookline is looking healthy! The supply of homes for sale in March was way up over February, indicating that more sellers are deciding to list their homes. And, while prices were also up over last year, the increases are seemingly harmless to sales.

The Greater Boston Association of Realtors has released the Needham market updates for March 2016 and judging from the increase in single-home listings and decrease in pricing, it is clear we have a buyer's market. The supply of homes for sale in March was significantly higher than February, indicating that more sellers are deciding to … Continue reading Needham Market Update : First Quarter of 2016