Boston Market Statistics for the Week of 7/18/14



Presenting you with your monthly market stats for the Greater Boston area single family homes...

Real Estate Market Chart by Altos Research www.altosresearch.com


For single family Boston properties in zip code 02129 there was a total of 12 homes listed as of July 18th.   With an average of 1,806 square feet and 3 bedrooms, the median list price comes out to $899,000. 2 homes were newly listed. Finally, with an average of 32 days on the market, 1 of the 2 homes were absorbed.


Presenting you with your monthly market stats for the Greater Boston area condos...
Real Estate Market Chart by Altos Research www.altosresearch.com


The numbers for Boston condos in zip code 02129 are promising. The median listing price was at $700,000 at a total inventory of 23. The average condo size is currently sitting at 1,554 square feet, along with an average of 2.57 bedrooms and 2.11 bathrooms. With an average of 36 days on the market, 1 of the 23 condos were absorbed.



Below are the 7 day average price compared to the 90 day average price for Single Family Homes and Condos in 02129.


Data provided by ©2014 Altos Research LLC

Data and charts are based on the last 2 weeks, but are current to the day.  I have the ability to focus on different zip codes in the Boston area.  Please contact me with whatever your area of interest is; 02116, 02118, 02129 and I will be glad to help you, just let me know!


Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com

Boston Homebuyers: 4 Important Things to Consider When Getting Mortgage


Getting your Boston, MA home financed

Boston, MA Real Estate
Boston Mortgage Information

While there are buyers in today’s market that are able to pay cash for their Boston homes, the majority will be seeking mortgage loans to finance their purchases. Mortgages, however, can be incredibly confusing. There are so many types of loans and so much terminology that goes along with them, not to mention the tedious process of securing a loan. As a Boston homebuyer, here are 4 important things to consider when getting a mortgage.

Research loan types, and make sure to get the right one for you.

There are many loan options, and the one that will work for you will be based on your personal situation. A few types that you commonly hear are fixed-rate, adjustable-rate, 80/20, FHA, and balloon. Depending on your life and financial situation when purchasing the home, there will be pluses and minus to each. Spend some time on the internet researching your choices, and find a reputable lender for more guidance once you are ready to start looking for a home.

Take all monthly expenses associated with homeownership into account when determining how much mortgage you can afford.

Be sure to consider all of the monthly costs that you will need to afford beyond principal and interest. Depending on your loan type and the amount of downpayment that you apply to your mortgage, you may have monthly mortgage insurance premiums that will be paid along with your mortgage payment. If you choose to escrow your real-estate taxes, those too will be included in the payment. In addition, monthly utility, maintenance, homeowners association costs will also need to be considered.  By ensuring that you're looking at the whole picture of all of the expenses involved in owning a home, you will be able to prevent financial hardship later.

There is a difference between being “pre-qualified” and “pre-approved”.

Being pre-qualified means that based on financial picture you provide, the lender will estimate the amount of mortgage for which you should be able to qualify and afford. Getting pre-approved is a much more involved process. Your credit will be thoroughly analyzed, you will be asked for financial documentation, and you will be told the exact dollar amount that you will be able to borrow. Obviously, this will be contingent on your current financial and credit situation remaining the same all the way through your closing. In today’s market, getting pre-qualified for your mortgage will give you a leg up on buyers who have not done so. Since you’ll have to go through the process at some point anyway, you might as well do it early on.

Be sure to review and understand your closing costs.

There is a long list of fees associated with your closing costs. Both your lender and realtor can help you understand what all of those fees are covering. The day before your closing, you will be able to review your HUD 1 Settlement Statement. Review it carefully, and ask questions. Closing costs can amount to anywhere from 3-7% of the total purchase price of your home, so it’s important to feel confident that everything is correct.

As a long-time Boston, MA realtor, I have worked with many who’ve had to secure financing for their home. Since it is such an involved process, it’s important to start it early in your home search and enlist the help of professionals to walk you through it. With all of the Boston homebuyers with which I’ve worked, I’ve found that these 4 things are some of the most important to consider when getting a mortgage. If you would like more information about purchasing a home in the Boston area, please contact me. It would be my pleasure to assist your find the home of your dreams!

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com

Boston, MA 4th of July Festivities


Boston MA Real Estate Information
4th of July in Boston

Celebrating Independence Day in Boston!


Considering the patriotic nature of New England, Boston, MA offers some of the best Independence Day festivities that you can possibly find. While some prefer to enjoy the holiday from the comfort of their own Boston home, there are all sorts of fun and unique events available for those who want to get out and experience what the city has to offer. Two that are particular longtime favorites are Harborfest and the Boston Pops Fireworks Spectacular.

Celebrating its 33rd anniversary, Harborfest will run from July 2nd through July 6th in Downtown Boston with main events occurring at City Hall Plaza. The five day fest is packed with over 200 events that display the colonial and maritime history of the city. Events include Freedom Trail tours, battle reenactments, harbor tours, and even a scavenger hunt revolving around the Boston Tea Party.  You’ll want to check the daily schedule for event times and costs, though you may have a hard time choosing with so many options!

The Boston Pops Fireworks Spectacular is so well known that it draws attendees from all over the country. The event is held at the Charles River Esplanade. While this beautiful 17 mile stretch of river bank is popular to locals all year long, it really comes alive with a crowd of thousands on the 4th of July. The concert itself will be held at the Hatch Shell, this year featuring the Beach Boys, Megan Hilly, the lead performers from the Phantom of the Opera, and the Boston Children’s Chorus. There will be a concert held on July 3rd from 8:30-10pm without fireworks. The main festivities will occur on the 4th with Boston Pops Fireworks Spectacular broadcast beginning at 8pm and fireworks beginning at 10:30pm. The event is in its 41st year and gets more impressive with every year that passes. Whether you’re a Boston local or not, everyone should experience this impressive pyrotechnic celebration at least once in their life.

So many love Boston, MA for its rich history, and Independence Day is a wonderful opportunity for the city to share that history with both residents and visitors. Even non-history buffs will be drawn in by the city’s fascinating roots. History is just one of the many things that adds to Boston’s charm -- a charm that makes me love having the opportunity to sell real estate in the area. Whether you get out and experience the city or throw your own soiree at home, have a safe and wonderful 4th of July!

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com

Boston Market Statistics for the Week of 6/13/14



Presenting you with your monthly market stats for the Greater Boston area single family homes...

Real Estate Market Chart by Altos Research www.altosresearch.com


For single family Boston properties in zip code 02118 there was a total of 2 homes listed as of June 13th.   With an average of 2,898 square feet and 4 bedrooms, the median list price comes out to $2,572,500. No homes were newly listed. Finally, with an average of 122 days on the market, none of the 2 homes were absorbed.



Presenting you with your monthly market stats for the Greater Boston area condos...
Real Estate Market Chart by Altos Research www.altosresearch.com


The numbers for Boston condos in zip code 02118 are promising. The median listing price was at $830,000 at a total inventory of 70. The average condo size is currently sitting at 1,372 square feet, along with an average of 2.06 bedrooms and 1.73 bathrooms. With an average of 37 days on the market, 19 of the 70 condos were absorbed.


Below are the 7 day average price compared to the 90 day average price for Single Family Homes and Condos in 02118.

  
Data provided by ©2014 Altos Research LLC

Data and charts are based on the last 2 weeks, but are current to the day.  I have the ability to focus on different zip codes in the Boston area.  Please contact me with whatever your area of interest is; 02116, 02118, 02129 and I will be glad to help you, just let me know!


Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com

The 5 Most Common Boston Home Seller Mistakes


Chances are, you probably don’t go through the process of selling a Boston home very often.  This being said, there tend to be common mistakes that I see happen frequently with Boston home sellers.  Here are 5 that I probably see the most often, so If you’re looking to sell your home, take note!

Neglecting repairs and appearance.  No one wants to purchase a home that appears to be poorly maintained.  Unless they are searching for a “fixer upper”, buyers don’t want to have a long, expensive to-do list as soon as they move into a home. Inspect your home top to bottom for repairs, big or small.  Any repairs that aren’t particularly costly should definitely be completed.  If there are larger repairs that need to be done, you will need to decide whether completing them will be a benefit to the selling price of your home; however, keep in mind that all issues must be disclosed to buyers. Also take the time refresh the exterior of your home — repaint the front door, clean or update hardware, plant fresh flowers.  Anything that will make your home look more appealing when a buyer drives up.

Unappealing pictures.  Since so many start their home search on the internet, the pictures of your home have to make it look its best.  It can be a wise investment to hire a professional photograph.  A real estate photographer is trained to catch the best angles of your home and has the proper equipment to do so.  Great photos can definitely help your home stand out from the pack when a buyer is sifting through a sea of homes on a website.

Pricing your home too high.  Your home must be priced in line with those in the area that are comparable to it.  If your home is one the high end of those available, you will be turning away potential buyers.  It is best to price your home near the median of the available homes in your area.  This will allow your home to fall into as many home searches as possible.

Letting your emotions take over.  While difficult, you have to try to keep your heart out the sales process of your home.  If your realtor recommends that you remove certain taste-specific items from your home, it’s only because he or she wants it to have broad-base appeal.  Should a buyer come to you with a low-ball offer, try your best to not be insulted.  Much like you’re trying to get the most you can for your home, buyers are trying to get the best deal they can on their new home.  Use the low offer as a jumping off point for negotiation.  You cannot take anything that happens during the home sale process personally.

For sale by owner:  Since you don’t sell homes for a living, it is a good idea to enlist the help of a trained real estate professional.  Hiring a realtor who is experienced in your market will be able to assist you in pricing your home correctly to attract buyers.  A realtor will also be able to help you prevent all common pitfalls that sellers tend to fall into by giving you an objective point of view. Overall, enlisting a professional will alleviate much of the stress than can come along with selling a home.

These are just a handful of the mistakes that I have encountered with the sellers I’ve worked with over the years.  With all that’s involved with selling a home, it’s no surprise that this is the case.  As a seasoned Boston real estate agent, I work closely with my clients to help ensure that the sale of their home goes as smoothly as possible.  If you have been considering the purchase of Boston real estate, please contact me.  I look forward to helping you avoid these mistakes while finding the Boston home of your dreams.

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com

5 Things to Experience in Boston This June!


Summer is finally here!  With winter in the rearview mirror, it’s time to get out and experience all that Boston, MA has to offer!  One of the things that I love most about Boston is the wide variety of activities and events that the city provides.  It’s one of the reasons so many choose to live here!  As an experienced Boston area realtor, I know how important it is to be close to both work and play in the place that you choose call home.  Here are just a few fun and interesting options you could enjoy this June in the area.

Scooper Bowl Fest
City Hall Plaza, Boston
June 3rd  - 5th

Eating ice cream for a good cause?  Yes please!  This fundraiser scoops out over 10 tons of frozen treats which has benefited the Jimmy Fund for cancer research at Dana-Farber for 32 years running.  

Dragon Boat Fest
Charles River, with Festival on the Cambridge side of the river
June 14th - 15th

Visit Boston's annual Dragon Boat Festival, and see over 50 teams compete.  This is largest dragon boat race in North America!  Enjoy the beautiful and ornate boats with varied levels of rowers racing to the finish line.  At the festival on Sunday, you will get to experience Asian arts and crafts, martial arts, and dance performances
Boston Irish Festival
Irish Cultural Centre, Canton, MA
Weekends, May 31st - June 14th

In celebration of the Irish Cultural Centre's 25th Anniversary, the festival is going to take place over 3 weekends this year!  On May 31st, there will be a performance by Flying High Frisbee Dogs, free face painting, temporary tattoos, arts and crafts, Rugby, Hurling, and Gaelic Football clinics for kids.  On June 6th and 7th, experience phenomenal musicians — buy ticket in advance because they will sell out!  June 14th will highlight the Liam Harney School of Irish Dancing with its magnificently talented Irish step dancers.  
Coolidge Arts & Brookline Food Festivals
June 7th
Devotion School, Brookline

Experience the works of over 75 fine artists while enjoying delicious food from the local restaurants.  Pick up a one of a kind piece and discover your new favorite restaurant all at once!

Beer Tasting Sail
June 19th
Rowes Wharf and Fan Pier, Boston 

Partake in an evening sail aboard Boston’s most historic tall ship while you try some of the city’s best microbrews, along with appetizers and music!  How better to kick off summer than out on the water!

There is something to offer every taste and preference in the Boston area this summer.  Even if these events don’t suit your fancy, I’m certain there is something else that will!  If you would like more information about the area, please contact me!  I’m sure that the more you find out, the more you will want me to assist you in finding the perfect home here!  If you already own Boston real estate, I would also love to help you sell your current and find your next Boston dream home.  I have a passion for Boston real estate, and I love to share it with my clients! 

Boston Market Statistics for the Week of 5/16/14


Presenting you with your monthly market stats for the Greater Boston area single family homes...

Real Estate Market Chart by Altos Research www.altosresearch.com

For single family Boston properties in zip code 02116 there was a total of  7 homes listed as of May 16th.   With an average of 5,161 square feet and 5.14 bedrooms, the median list price comes out to $3,995,000. 1 home was newly listed. Finally, with an average of 119 days on the market, none of the 7 homes were absorbed.


Presenting you with your monthly market stats for the Greater Boston area condos...
Real Estate Market Chart by Altos Research www.altosresearch.com

The numbers for Boston condos in zip code 02116 are promising. The median listing price was at $1,025,000 at a total inventory of 86. The average condo size is currently sitting at 1,474 square feet, along with an average of 1.89 bedrooms and 1.86 bathrooms. With an average of 68 days on the market, 7 of the 86 condos were absorbed.


Below is an interactive chart for zip code 02116, showing the 90 day average of Median home prices of Single Family Homes and Condos over the past several years.  Please feel free to use the bottom arrow to scroll through the data.  



Data provided by ©2014 Altos Research LLC

Data and charts are based on the last 2 weeks, but are current to the day.  I have the ability to focus on different zip codes in the Boston area.  Please contact me with whatever your area of interest is; 02116, 02118, 02129 and I will be glad to help you, just let me know!


Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com

Most Popular Home Features among Boston Home Buyers!


As a Boston home seller, you want to know who your potential homebuyers are in the Boston real estate market, and what they are currently looking for from a home. Trends come and go, so when staging your home to sell, it’s important to be up-to-date with the latest information.

After all, inventory is rising, so you have more competition. Plus, some upgrades yield a high return on investment and will allow you to increase the asking price of your home!

As your Boston real estate agent, I’m here to update you today! A recent survey was conducted to see which upgrades Boston homebuyers are willing to pay more for. Here were the results:
  • Central air conditioning. This upgrade was most important to buyers, with a whopping 69 percent saying they would pay more for a home that had this: up to $2,520 more.
  • New appliances. Of all the kitchen upgrades available, new appliances was the one that 69 percent of buyers said they would pay more for: up to $1,840 more. Added bonus: Energy Star appliances!
  • Walk-in closets. Buyers desire lots of storage, and walk-in closets fit into that category. That’s why 60 percent of buyers say they would pay more: up to $1,350 more.
  • Granite countertops. Granite is still a popular option in the kitchen, and that’s why 55 percent of buyers said they would pay more for this upgrade: up to $1,620 more.
  • Hardwood floors. This trend comes and goes, but right now, buyers desire hardwood flooring over carpeting. Make this upgrade and 54 percent of buyers will pay more: up to $2,080 more.
  • Master Suite. Buyers want a master bedroom with an upgraded master bath. From second sinks to mounted televisions, 49 percent of buyers will pay more: up to $2,030 more. However, it’s important to note your area’s demographic. Younger buyers don’t care as much as older buyers do.
  • Kitchen island. Buyers like their kitchen updates, and the kitchen island is an upgrade that gives them more storage and counter space. That’s why 48 percent of buyers will pay more: up to $1,370 more.
  • Stainless steel. This is still the material that most buyers, 41 percent of them, prefer for appliances, even though they wear faster. They are willing to spend up to $1,850 more for stainless steel.
  • Eat-in kitchen. The kitchen strikes again! Buyers, especially younger ones with kids, are looking for functional eat-in kitchens. Forty percent of buyers will spend up to $1,770 more for this.
  • Fireplaces. This attractive, functional feature is even more popular in the northern states, and no surprise after the winter Boston, MA had! Forty percent of buyers will pay up to $1,770 more for one.
As a rule of thumb, kitchen and bath updates are always popular among homebuyers. The National Kitchen and Bath Association recently shared that extra-large, luxury showers with multiple shower heads and built-in seating are all the rage right now.

Have questions about selling your Boston home? Ready to sell with professional assistance? Contact me, your Boston real estate agent!

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com

What to Know About Boston Marathon 2014!


The 118th Boston Marathon will take place on Monday, April 21, which is also Patriot’s Day here in Boston! The tragic events at last year’s Boston Marathon has only made this year’s marathon bigger, better and more profound. We are one Boston, Boston Strong, and we will carry on!

As your Boston real estate agent, I can tell you that the Boston Marathon is one of Boston, MA’s biggest events of the year, attracting thousands of people to Boston, either to run in the marathon or to cheer on those who are. If you can’t make it to the marathon, you can enjoy live coverage on CBS Boston’s WBZ-TV, beginning at 7 a.m.

The historic 26.2-mile course begins on Main Street in Hopkinton and finishes on Boylston Street in Boston’s Back Bay. This year, there are 36,000 official entrants!  Mobility impaired racers begin first at 8:50 a.m., followed by the wheelchair division at 9:17, handcycle participants at 9:22, elite women at 9:32, elite men and wave one at 10, wave two at 10:24, wave three at 11 and wave four at 11:25 a.m.

If you are participating in the Boston Marathon, you must pick up your bib number and race packet at the John Hancock Sports & Fitness Expo this weekend, April 18, 19 or 20. This expo features over 200 exhibits and attracts over 100,000 attendees. Whether you’re racing in the marathon or not, it’s definitely a sight to see!

If you are a spectator to the Boston Marathon this year, a new no-bag rule is in effect, so be smart and don’t bring any type of bag with you! Also not allowed are glass containers, strollers, any container capable of holding more than one liter of liquid, vests with pockets, costumes covering your face, props or any large items.

After the race, the Official Post-Race Party will take place at Mile 27, presented by Samuel Adams!  This will include the awards ceremony, light dinner fare and beer, with a re-broadcast of the race on large screens. Head to the House of Blues from 7:30 p.m. to 12:30 a.m., or head to the Fenway Park Open House from 6:30 to 8:30 p.m., where race participants can relax with family and friends and celebrate.

If you have out-of-town friends or family members coming to Boston, let them know that there are shuttle services from certain Boston, MA hotels, such as the Marriott Copley Huntington Ave, Sheraton Boston, Back Bay Hotel Stuart St., Seaport Hotel Seaport Lane and many others.

Will you just be heading to work Monday and cheering on participants from afar? Check out the road closures for that day and approximately what time each road will be closed. It is definitely a smart idea to take public transportation into the city. 

Can’t make it to Boston, MA for this year’s marathon? Mark your calendar now: next year’s race will take place on April 20!

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com

Boston Market Statistics for the Week of 4/11/14


Presenting you with your monthly market stats for the Greater Boston area single family homes...


Real Estate Market Chart by Altos Research www.altosresearch.com
For single family Boston properties in zip code 02129 there was a total of 11 homes listed as of April 11th.   With an average of 2,032 square feet and 3.09 bedrooms, the median list price comes out to $750,000. 3 homes were newly listed. Finally, with an average of 32 days on the market, 1 of the 11 homes were absorbed.


Presenting you with your monthly market stats for the Greater Boston area condos...


Real Estate Market Chart by Altos Research www.altosresearch.com

The numbers for Boston condos in zip code 02129 are promising. The median listing price was at $639,000 at a total inventory of 38. The average condo size is currently sitting at 2,282 square feet, along with an average of 2.25 bedrooms and 2 bathrooms. With an average of 55 days on the market, 1 of the 38 condos were absorbed.



Below is an interactive chart for zip code 02129, showing the 90 day average of Median home prices of Single Family Homes and Condos over the past several years.  Please feel free to use the bottom arrow to scroll through the data.  



Data provided by ©2013 Altos Research LLC

Data and charts are based on the last 2 weeks, but are current to the day.  I have the ability to focus on different zip codes in the Boston area.  Please contact me with whatever your area of interest is; 02116, 02118, 02129 and I will be glad to help you, just let me know!


Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com