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Home Buying in Newton Center : Real Estate Advice

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  • Home Buying2
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Territory.c…, Real Estate Pro in MA,
Tue Sep 18, 2012 answered:
I think the Q/A forums like this are great for lead generation because in a sense they are much like a buyer/agent interview process. Said client asks a question about a property or market or process of buying/selling and agent has an opportunity to answer and show their stuff/knoweldge. We have gotten quite a few clients off this forum because they have appreciated our honest tailored responses. Plus we have NOTHING to sell anyone therefore all of our answers are transparent and data driven which gets us great feedback.

I am unsure about advertising listings / ROI as we are an exclusive buyers agency with nothing to sell but my guess is the exposure to more buyers is positive (trulia ranks high on google).

People do tend to choose realtors based on friends / family suggestions and word of mouth. Buyer's should still beware and make sure they understand that - even if "referred" - in this business unfortunately not everyone's interests are aligned and 9 times out of 10 it is the buyer who ends up losing the most.

Interesting question and look forward to seeing other responses.
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Territory.c…, Real Estate Pro in MA,
Tue Sep 18, 2012 answered:
Hi Bria!

It was (and is) a very competitive market (lots of competitive bids depending on the season) yet very insulated so it's a great place to invest your money. They have great schools and it is close proximity to downtown. Almost every offer scenario we were in with clients was a competitive bid.

Here are some numbers to give you a sense of where the market stood at the end of this spring season compared to 2011. I chose the below dates because the average time to close is about 60 days and the spring market really heats up end of April/all of May leaving July and August as prime months for closings, giving a general synopsis of that yrs market.

7/1/2011 - 9/1/2011

Total Single families sold:132
Avg. Days on Market: 69
Sale Price to Listing Price Discount: 3%
Sale Price to Original Price Discount: 6%
Median Price: $772,500

7/1/2012 - 91/2012

Total Single Families Sold: 170
Avg. Days on Market: 80
Sale Price to Listing Price Discount: 2%
Sale Price to Original Price Discount: 4%
Median Price: $862,450

As you can see by the numbers the spring market was red hot this year! The median price increased in 2012 about 11% which is astounding. You can also see there were smaller discounts in sale prices compared to the previous year which was probably a reflection of the competitive bid scenarios (drives prices up).

Since you asked up to 1.55M I thought you would be interested to know that in 2011 during the time frame above the most transactions happened in this price point: $1,000,000 - $1,499,999 and in 2012 it was the exact same.

I hope that helps! There is always more where this came from as it is our primary job as exclusive buyer's agents to educate home buyer's. Feel free to contact us anytime with questions about a market or home.
Massachusetts Leading Real Estate Agency for Buyer's
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