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Market at a glance
We are recapturing value in all price
categories lately and with the
exception of a little downtime over the holidays this has been a great time to
buy or sell. What’s next??
Well all the experts expect interest
rates to go up substantially in the late
Spring and that will potentially
dampen down overall activity. But I
think the market will perform quite
well both in the meantime and again
after a shortened period of flat activity
in the late Spring 2010.
Actually with the $8,000 First Time
Homebuyer Rebate and current low
interest rates in place, now is a good
time to sell your home.
Mid and upper price range
product is moving albeit just a bit
more slowly and comprise less of a
percentage of the overall sales.
You may recall that we saw a similar
spike is sales activity for the end of
January and first half of February last
year. Then the market slowed down
considerably till late Spring.
This year I think we will see supply and
demand flip flopping back and forth.
Given the sales numbers and requisite
press, there should be a little flurry in
the coming weeks to add more
property listings into the market. This
infusion of listings might quell demand
for a short time. These resale
listings coupled with steady but
diminishing amounts of bank owned
product probably won’t have a
substantial impact on values in the
near term however. We see properties
that were long struggling with price
reductions to finally get to realistic
market prices and then experience
strong showing activity and even
see multiple offers submitted.
Often those properties that languish on
the market for 250-350 days and then
get a serious price reduction, get lots
of showings and a few offers.
So buyers have established a bottom
whether they know it or not.
Low end condos were the key to
determining the bottom in 1993 & 94
and they will lead the way again. I’ve
noticed that prices of garden style and
conversion 1 & 2 bedroom condos
have bumped up a few percentage
points from early November. And just
east of us in Natick and Framingham
the first time and first step up buyer
homes often have multiple offers when
they sell.
We are happy to put together some
detailed info on the market for you
including an update on the value of
your home, what items you might have
to address and what your prospects are
going forward. Call anytime. This is a
free service and there is never any
obligation. Call today 508 341-5630
Bob Marquedant Broker.Owner
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Going Forward
If you are planning on selling
this Spring, you should be
mindful of timing. Right now
the interest rates are down
substantially and that helps
buyers in all price ranges.
Price your home within
several percentage points of
its ultimate selling price or
market value and don’t play
games when you get offers. Well kept homes that
are priced appropriately will
sell in several weeks time.
Overpriced homes can fall
into the “market worn” pit
and get punished.
Homes priced under 300K
can often be competing with
bank owned properties so
you will have a decided edge.
Homes priced in the 500-650
range can expect longer
market times if you are on a
main road vs. subdivision.
Upper priced homes have to
shine-staging, proper storage,
furniture layout, lighting, all
the basics must be in place.
The better condition homes
are selling faster so you will
need a game plan from your
Realtor on repair items.
Remember we offer a FREE
room by room assessment of
your home when we conduct
our Market Analysis reports.
We’ll point out deficiencies
plus help with little tips that
you can do to get the
best look out of each room.
This is always a FREE Service
and there is never any
obligation.
We normally can view your
home or property and take
all of our notes in under 30
minutes. Our reports run an
average of 35-40 pages and
provide a detailed look at
potential competition and
where you stand in
comparison to competing
homes. Plus we’ll show you
what recent pending sales
and Sold or Comp sales have
been doing to the market.
We’ll give you a no nonsense
look at the market and what
you can expect should you
decide to sell in the coming
months.
And since we are also fully
licensed builders, we can
help on questions about
updated, improvements,
additions, code violations,
seller obligations, etc.
How can we be of service??
Call today (508) 341-5630
Bob Marquedant Broker
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Bob Marquedant
Local Hopkinton
Realtor
508 435-4009 O
508 341-5630 M
508 435-9257 F
Email:
BobMarquedant
@Comast.net
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