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Coleman Group Market Scoops – October 7th

Coleman Group Market Scoops – October 7th Scoops

Check out Coleman Group Market Scoops to get the latest intel on what is happening in the real estate market and what we are seeing every week!


Still receiving multiple offers on listings….6 offers on 15 Hill Street in Lexington and 15 offers on Lowell Street in Lexington. There are many buyers still hoping to find a home this year, good homes that are well priced still fly off the market. We are currently preparing a home in Arlington for the market. Stay tuned for more Coleman Scoops next week.


Helped my buyers get an accepted offer below asking price with a full mortgage contingency on a beautifully updated, 5-bedroom Colonial, only ½ a mile from the T! This is a great example of the shift we are seeing in the market, with a number of great homes receiving fewer offers and some even sticking on the market more than a week. This shift finally opens a window of opportunity for buyers to get a home at a slight discount or at least closer to fair value. As a result, buyers can also be more selective in the search, which I experienced with other clients shopping in Carlisle, Lexington, Melrose and Reading. 


91 Capen is still available, which is so crazy! It is an amazing investment opportunity with 3 beds and 2 full baths for $549,000. It just goes to show that not everything is selling right away. Things have not totally taken a turn though as I had a client bid on a 3 bed, 2 bath on Putnam in Somerville against 2 other offers. Contingencies continue to be king and we were able to get it for less with stronger terms. Finally, rates are worth shopping for – both buyer clients who bought this week were able to lock in a rate in the low 4s.


Desirable 2br / 1 ba Somerville condo received one strong offer at Tuesday deadline after lots of foot traffic during weekend open houses. Preparing to list a 4 BR townhouse in Medford later this month. But first, getting a mini-makeover with fresh paint…stay tuned! Buyers looking in Boston suburbs seem to be getting anxious because the fall inventory is not as abundant as they hoped.


Attended the 15th Annual Provincetown Art Association and Museum Party this past weekend to celebrate P-town artists and supporters. It’s so cool to live part-time in America’s oldest continuous art colony, dating back to 1916. The weather may be cooler, but the real estate market is still hot with 37 residential properties for sale!


Been working with a first-time buyer couple this week that is knee deep in all things mortgages right now. While rates aren’t where they were a few months ago, there are still good ones to be found. Definitely don’t sleep on ARMs when weighing your options! Stats show that first time buyers tend to live in their first properties for 5-7 years (sometimes less!) so a 5/1 or 7/1 ARM can be the perfect thing right now as they are lower than traditional fixed mortgage rates (and when rates drop down the road, a refinance is always an option). I’ve seen some rates this week at a couple of banks in the mid to upper 4s so definitely do your homework and check around.

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Charla Coleman

Charla is a Broker Associate with the Coleman Group.

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