We missed last week, so this week is a double! Check out Coleman Group Market Scoops to get the latest intel on what is happening in the real estate market.

Gloria

4/18

Last weekend there was a lot of new inventory, including an absolute dollhouse at 14 Peabody in Stoneham. My buyers submitted one of 27(!!!) offers on this home and were thrilled to have theirs accepted! We have been on the search together since last fall and have been patiently waiting for just the right house for them to call home to come on the market. Although they submitted bids on a couple of other nice houses, patience and a strong opening offer paid off, as this is by far the best house we’ve seen and we couldn’t be more excited about it! This is a great example of how important it is to put your best foot forward out of the gate if you see the right house.

4/26

This weekend a beautiful, 2-bedroom condo on Beacon Street, overlooking Hall’s Pond Sanctuary in Brookline came on. Showings didn’t start until Sunday’s open house, where there was a line of buyers waiting to get in. By Sunday evening the agent already had 3 offers in hand, including one from my clients. The seller decided to wait until noon on Monday to give other buyers a chance. In the end, my clients were up against 8 other offers, but were thrilled to have theirs accepted without having to go too high on price. This shows that even though it is competitive out there, there are still opportunities to snag a great home without going crazy, so don’t give up!

Kenda

4/18

Unique homes that are in good condition will always sell fast! Just this week I showed a $2.9M property in the Back Bay and in just 2 days of being on the market it had a few offers on it. It was a surprise to see that happen at this price point, but it just goes to show that old school character, with modern amenities will always be popular and is a safe place to park your money

4/26

There were a couple of properties that I was surprised to see stay on past their offer deadline this week. One was in the low $2Ms and the other the high $1.9s. One of my clients was able to scoop one of them up under the asking price with a mortgage contingency! It is always important to call after those deadlines if you are interested in a home, because you never know, and that could be an opportunity for a deal! I am not sure if these homes are an indicator of a slow down in this price point, but we do have a listing coming on this week in the higher $2Ms on Fairbanks, which will be a good one to watch! 

Jess

4/18

Inventory is definitely picking up and buyers are eager! Every property I’ve seen has had crazy interest and traffic coming through. Last week I had a buyer interested in two properties – one in Acton and one in Sudbury. Both received more than 10 offers and went significantly above asking price (my buyers bowed out once offers began climbing to a level they were not on board with, much to my agreement – nobody wants to overpay). The rental market is equally competitive these days due to higher interest rates (side note: they’re coming down but this has definitely pushed some buyers to consider renting instead). I’ve had a couple of people find rentals they like, request me to book showings for us later in the week due to their busy schedules, only to have them scooped up within a matter of 24 or 48 hours. It’s a jungle out there and all the more reason why as soon as you see something you like, you should be prepared to move quickly to see it or trust your agent enough to see it on your behalf. I’ve definitely done FaceTime showings for my clients before! 

4/26

It’s been a crazy few days for sure! My client put an excellent offer in on a condo in the North End this weekend but when seller countered with an unreasonable number, my client  had the good sense to walk away. Bummer for sure but I am glad he understood that it’s important not to overpay. Many sellers are trying to capitalize on what is still very much a sellers market and sometimes buyers can get carried away with their offers; don’t let that happen to you! It’s important to know your market and have an agent looking out for you that puts your interests first. In other news, today I got to tour a few of the brand new units at the St. Regis Residences in the Seaport that just opened this spring with my client. This is St. Regis’ first all condo development in the US (ie, not adjacent or incorporated into one of their hotel properties) and they did an absolutely incredible job on this building; from the construction details, to the unit layouts, to the finishing touches like decor and hardware finishes, this building definitely delivers and it absolutely exceeded my expectations. The city views are lovely but the water views of the Harbor are where it’s at for me. My buyer and I were so impressed – it’s already 70% sold through from pre sales alone! Want to go see it? Let me know, I’ll gladly go with you any time 😉

Tory

4/18

They say “a picture is worth a thousand words” for a reason.

Recently I’ve been noticing more and more listings that lack professional photos.  The difference between professional photos and those taken on a phone is striking.  Photos taken on a phone are usually dark and don’t convey a space well.  Since most buyers start their searches online and look at photos before reading a single word about a property, having top-notch professional photos for a listing is extremely important.  Failure to have good photos can cause a seller to miss out on prospective buyers because they will pass over a property with unappealing photos.  At the Coleman Group, we always provide our clients with a high caliber professional photographer to capture their properties in the most favorable way possible.  We try to select photos that are good representations of what people will see in person.  The takeaway: some money could be saved by not hiring a professional photographer, but this mistake will undoubtedly cost you a lot of money in the end.

4/26

It’s the start of the week and lots of exciting new Winchester properties have popped up on the market!  Hopefully this is the start of the steady stream of inventory we have been waiting for!

Last week during a showing, I noticed a strong gas odor in the basement of the house.  I discussed the smell with the listing agent and she seemed hesitant to call the gas company.  I’m sure she was weighing the pros and cons of calling because a gas company visit could potentially interrupt showings, but I bring this up to remind everyone of the series of natural gas explosions that occurred across the Merrimack Valley in 2018.  Roughly 40 homes experienced explosions.  You don’t want to mess around with natural gas…if you smell something you suspect is gas, call the utility provider ASAP!  When in doubt, give them a shout.

Peter

4/18

Well, 2 days and counting until my listing on the Cape hits the market – a beautiful 4BR on a private, secluded lot in Marstons Mills. I’ve spent considerable time prepping the home and coordinating an array of vendors to dot the i’s and cross the t’s, only to see a light bulb that’s out in one of the professional photos! You’re kidding me! Well, the Coleman Group is blessed to work with great real estate vendors who can turn on a dime and quickly photoshopped the light “on!” I’ll be adding “check lightbulbs” to my prep checklist for the future. Here’s hoping for a productive weekend of open houses at 587 Whistleberry Drive!

4/26

I had a busy day recently showing some clients different condos in Boston. As you can well imagine, parking is at a premium in the city and spots can range from $40K to $100K, especially if in a garage. One unit we looked at had a separately deeded, tandem parking space in the building that went for $500K. Yes, half a million on top of the $2M+ condo! My clients opted to pass on this automobile indulgence. So remember, it sometimes really pays to rely on public transportation!