How Is the Boston Market Performing?

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We are in the midst of one of our hottest months of the year, so we thought it would be a great time to bring you a quick update on the market.

Over the last few months, home prices have remained relatively stable, depending on the price point you are in. Overall, we have seen an increase in home prices since the beginning of the year.

We are definitely still in a seller’s market right now. There are plenty of buyers still out there looking for properties, and a lack of inventory for them to choose from.

Typically, the fall market is a buyer’s market because there are fewer motivated buyers and more motivated sellers. It will be interesting to see what happens this fall, as we are still not sure how long the market is going to continue to be hot.

Inventory is down to 92 active listings right now, but we should see that picking up again come Labor Day.

In the next few months, home prices should go up, especially given what’s going on in China. We also think interest rates will stay down and the Fed won’t be raising them so our prices will remain stable.

If you have any questions for us, feel free to give us a call or send us an email. We look forward to hearing from you soon!

What's the Secret to Winning Multiple Offer Situations?

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Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call us at (781)-929-4994 for a FREE home buying or selling consultation

Thanks for joining us again. Today we are going to talk about dealing with multiple offers on a home, from a buyer's and seller's perspective.

We are definitely seeing a lot of multiple offers here in Wellesley. In fact, just yesterday we saw a property sell for $100,000 over asking price after having 11 offers on it. 

The most important thing to remember when making an offer is not necessarily the price. You want to look at all the terms and conditions of an offer to see if it's the best fit. Sometimes waiving inspections or mortgage contingencies matter more to a buyer than just the price. 

Cash is king, but not always. An offer is about terms. Sometimes the close date may be more important than the price. Sellers understand that most people can get a mortgage so I don't think they are too concerned about buyers not getting one. 

I think a personal letter is always a good thing because it appeals to the seller's humanity and allows them to envision someone else in their home. It is a nice personal touch that can help you stand out from the crowd. 

Before you start writing offers or even start looking at homes for that matter, a pre-approval is a must. Nobody will accept your offer without one, and if you don't have one, you may be looking at homes you will not be able to afford. 

If you receive multiple offers, you are going to get the most money in the first few days while demand is high. Take the money and run!

If you have any questions for us, or are thinking about buying or selling in Wellesley in 2015, give us a call or send us an email. Talk to you soon!