Territory Rating: Hold - Newton Real Estate for Sale

The City of Newton in Middlesex County, Massachusetts, is an important residential suburb of Boston, which abuts it on the east. According to the 2000 census, the population of Newton was 83,829, making it the tenth largest city in the state.

Newton does not have a single town center, but is rather a patchwork of 13 “villages”, many boasting small “downtown” areas of their own. The 13 villages are: Auburndale, Chestnut Hill, Newton Centre, Newton Corner, Newton Highlands, Newton Lower Falls, Newton Upper Falls (both on the Charles River, and both once small industrial sites), Newtonville, Nonantum (also called “The Lake”), Oak Hill, Thompsonville, Waban, and West Newton. Oak Hill Park is a place within the village of Oak Hill that itself is shown as a village on some city maps. Although most of the villages have a post office, they have no legal definition and no firmly defined borders. This village based system often causes some confusion with regard to addresses and first time visitors. See The Thirteen Villages of Newton. - Wikipedia.com

Sold Data:
Average Price: $644,252 (+3%)
Median Price: $560,000 (+4%)
Average Days on Market: 62 (-19%)
Average Sale Price to List Price: 98% (+1%)
Average Original Price to List Price: 95% (+1%)
Average Monthly Absorption Rate: 124 (+9%)

On-Market Data:
Average Price: $755,594 (-4%)
Median Price: $590,000 (-2%)
Average Days on Market: 102 (+4%)
Number of Listings: 412 (+3%)
Months of Inventory: 3.3 (+6%)

Guide’s Opinion:
Newton seems to be bucking the overall trend towards lower prices. This is to be expected as affluent neighborhoods tend to weather the storms better than less affluent ones. All the trailing sold data indicates that prices are rising and negotiations are getting tighter. On the other hand the on-market data shows slightly lower prices accompanied by higher days on market and increased inventory.  I would describe this as a stable market favoring neither buyers nor sellers.

Territory Rating: Strong Buy - Andover Real Estate for Sale

Andover is a town in Essex County, Massachusetts, United States. It was incorporated in 1646 and as of the 2000 census population was 31,247. It is part of the Boston-Cambridge-Quincy, Massachusetts-New Hampshire metropolitan statistical area. - Wikipedia.com

Sold Data:
Average Price: $383,889 (-10%)
Median Price: $382,950 (-12%)
Average Days on Market: 88 (-19%)
Average Sale Price to List Price: 97% (+1%)
Average Original Price to List Price: 94% (+1%)
Average Absorption Rate: 43 (-4%)

On-Market Data:
Average Price: $542,617 (-7%)
Median Price: $463,000 (-1%)
Average Days on Market: 162 (+10%)
Number of Listings: 247 (-1%)
Months of Inventory: 5.7 (+2%)

Guide’s Opinion:
Prices have dropped significantly but days on market have fallen and SP to LP ratios are up. This is an indication that buyers are moving on properties whose prices have come down significantly. This matches up with our day to day experience. Buyers are seeking out undervalued properties in suburban areas. While city prices remain high the values are in the suburbs. 

The Massachusetts Department of Conservation and Recreation is giving away historic homes as long as you promise to bring them back to their original glory. They are offering long-term leases to any individual willing to restore and take care of them.

Sound like a good deal?

Ok, maybe a little over-the-average-persons head so perhaps a water front parcel for under $150,000 will do the trick? Or maybe this raised ranch for $132,900 in Springfield? Or a 2 bedroom/1bath condo in Jamaica Plain for $145,000? Or lastly, you could always buy a parking space in the South End for $45,000 … Ok, they aren’t quite free but pretty darn inexpensive.

MLS # 70823021 - Multi Family - 3 Family
Address: 46 Saint Germain Street Boston, MA : Back Bay
List Price: $1,550,000
Territory Rebate: $18,255

Listing Office: City Realty Group
Sellers Agent: Adam Kotkin

Location:
Back Bay is an officially recognized neighborhood of Boston, Massachusetts. It is an upscale residential, retail, and commercial office district. Back Bay and neighboring Beacon Hill are considered Boston’s most expensive neighborhoods, with townhouses regularly selling for millions of dollars. Popular upmarket shopping destinations include Newbury and Boylston Streets as well as the Prudential Center and Copley Place malls. Architecturally the neighborhood is dominated by Victorian brownstone buildings in its northern, more residential portion; the southern part of the neighborhood is far more commercial and is home to some of Boston’s tallest skyscrapers. - Wikipedia.com

Three Up:

1. Great Rental Location
2. 2 Units are Renovated
3. 9′ Ceiling Height in Basement

Three Down:

1. 1st floor is Un-Renovated
2. $651 Price Per-Sqft
3. Electric Heat

Guide’s Opinion:
Investing in this location is a savvy move. You can bank on steady demand thanks to nearby Northeastern University but you also have great upside because of Saint Germain Street’s proximity to the Copley Mall and Newbury Street. This has all the makings of a great buy, hold, condo and sell strategy. The price at $651 per sqft is just ok. The fact that renovations need to be made to the first floor unit make it a littler harder to swallow. On the other hand the 5 off-street parking spaces are worth their weight in gold.

Territory Rating: Buy

Click HERE to See it in Person

It’s no secret we love transparency; Territory is built on a web-focused foundation so every buyer gets as much information - and education - on neighborhoods, streets, property history, market data and trends, etc, to help them decide what and where to buy without the pressure of a broker (unless of course they ask for it). While the biggest advantage of working with Territory is our guarantee that we get you the lowest price, we still work daily on increasing and fine tuning our buyer-centric web tools.

Over the last couple months we have customized and added the following updates to our website:
- StreetView Maps: Screw Drive-by’s! Now you can do it all from the comfort of your own couch. We have implemented this feature on the main search map that appears when you do a general search:

And it appears at the bottom of every listing page:

- Parcel Data - This unique and incredibly helpful feature allows buyers to see not only the parcel of land associated with a specific property but also the parcels of land associated with the surrounding properties. We remind our buyers all the time, Single Family value is in the land first and home (square footage, upgrades, etc) second so this parcel feature makes for a great valuation tool.

- Home Page Search Bar - You don’t even need your glasses for this one.

- Rebate Calculator - It’s back and better than ever. Every listing page now has a “territory price” under the listing price. This tells you the low price we guarantee before we even begin applying our incredible negotiating tactics to get you a bigger discount. The “Territory Price” is calculated by subtracting the “Territory Rebate” from the listing price.

- More Property Data - That’s right, we have increased the amount of property information available online. For example, if you are looking at multi families you can now find detailed information on each unit.

What is next for TerritoryRE.com? Here are some more features that will be added in the next month:

School Data - We will put Family first. Your search won’t just pull up properties, pretty soon a list of schools will appear too. How they will appear? Well you will just have to wait an find out

Mortgage Calculators - Better than the real thing. After 2004 everyone should be crunching the numbers. Make sure your new home falls within your monthly budget means.

REO and Short Sale Criteria - All you deal hunters will appreciate the new search options geared towards foreclosure/bank owned properties and short sales.

Increased Open House Data - Better online search tools and custom built takeaways to keep you more knowledgeable and organized than every other (non territory) open house shopper.

Neighborhood Data - We are getting down to the details, my friend. No neighborhood demographics will go un-noted.

A recent study released by the Warren Group shows that home prices have fallen 9 percent in Boston from last year with sales volume at its lowest point in 16 years. Condo prices fell ever further at a whopping 22% over last year. The current week’s market chaos will most likely motivate sellers to slash prices even further. Sellers are desperate for serious buyers making it a great time to negotiate.

A recent Yahoo News article mentions that an estimated 10 million homeowners owe more on their mortgages than their homes are worth. Income to expense ratios are also shifting with almost 15 percent of American homeowners with a mortgage spending half of their income or more on housing costs. The article lists the markets most affected by this shift and although Massachusetts was not one of the top 10 mentioned as the highest “cost-burdened”, it is still important to consider purchasing a property with a manageable mortgage to income ratio (approx 30-33%).

TRE has researched some New to Market Single Family Properties with asking prices under $300K which may be appealing, especially to first-time homebuyers.

Source: Bankrate.com

Andover:

A nicely renovated 3 bedroom/2.5 bathroom on one acre for just over $500,000.

Beautiful 4 bedroom/2.5 bath colonial on a quiet street with 1 acre.

Framingham:

1700+ sqre foot 3bedroom/2.5bath plus garage and nice landscaping. Near Framingham Country Club.

Brand new construction with all the upgrades (not yet built) near parks and train.

Arlington:

Renovated 3 bedroom colonial with deck overlooking landscaped yard.

Incredible half acre WATERFRONT property in Arlington. Won’t last long.

Groton:

On almost 2 acres of land sits this 2200 square foot home with 4bedroom/2.5 bath incl a Master Suite listed for under $450,000!