Boston Realty by Realtor Michael Mahoney of eXp
Michael Mahoney
617-615-9435617-615-9435

Single Family Home Stats for Jamaica Plain

December 10th, 2018 by Michael Mahoney

Single Family Home Stats for Jamaica PlainJamaica Plain real estate stats

What Counts as “Low Credit” Anyway?

December 3rd, 2018 by Michael Mahoney

What Counts as “Low Credit” Anyway?

First, let’s debunk the home-buying myth that you have to have a gold-plated credit score to buy a house. Lenders review your whole financial picture. If you have a steady income, a regular payment history, and some cash in hand, that will help balance your less-than-perfect credit.

 

How Does Your Credit Score Affect Interest Rates?

You may pay more in the form of a larger down payment, a higher interest rate, private mortgage insurance, or points, which are fees attached to the loan.

How much more interest might you pay? Let’s say you’re going for a $216,000, 30-year, fixed-rate mortgage. Here’s how your rate could change based on your score. (FYI, the monthly payment estimate includes only interest and your principal, not insurance, taxes, private mortgage insurance, or other expenses.) Rates here may not reflect current conditions.

Get the report on how to get a mortgage with a Little Credit

 

 

Realtor Chief Economist Forecast: No Bubble

November 6th, 2018 by Michael Mahoney

Realtor Chief Economist Forecast: No Bubble

Lawrence Yun - Chief Economist for the National Association of Realtor

The economy remains strong, and housing will continue to see stable growth, Lawrence Yun, chief economist for the National Association of REALTORS®, predicted Friday at the REALTORS® Conference & Expo in Boston.

NAR Chief Economist Lawrence Yun
© REALTOR® Magazine

NAR Chief Economist Lawrence Yun told attendees at the REALTORS® Conference & Expo in Boston that another recession is unlikely in the short-term future because economic fundamentals are healthy.

Yun forecasted about 6 million new- and existing-home sales by the end of 2018 and slightly more than that each year for the next two years. Home prices will also see modest growth—about 4.7 percent this year, 3.1 percent in 2019, and 2.7 percent in 2020.

Yun said he sees no signs of a housing bubble, even though home prices have been outpacing income for many years. That’s because the economy remains fundamentally sound, mortgage quality is high, and with inventory shortages persisting in some markets, there’s none of the overbuilding that characterized the run-up to the Great Recession.

If you want to know what is happening in Boston Real Estate get the latest report here

October 17th Boston Real Estate Market Update by Realtor Michael Mahoney

October 18th, 2018 by Michael Mahoney

Greater Boston Real Estate Report by Realtor Michael Mahoney - click display images to see the full report

According to CoreLogic’s latest Home Price Insights Report, national home prices in August were up 5.5% from August 2017. This marks the first time since June 2016 that home prices did not appreciate by at least 6.0% year-over-year.

CoreLogic’s Chief Economist Frank Nothaft gave some insight into this change,

One of the major factors that has driven prices to accelerate at a pace of between 6-7% over the past two years was the lack of inventory available for sale in many areas of the country. This made houses a prized commodity which forced many buyers into bidding wars and drove prices even higher.

According to the National Association of Realtors’ (NAR) latest Existing Home Sales Report, we are starting to see more inventory come to market over the last few months. This, paired with patient buyers who are willing to wait to find the right homes, is creating a natural environment for price growth to slow.

Historically, prices appreciated at a rate of 3.7% (from 1987-1999). CoreLogic predicts that prices will continue to rise over the next year at a rate of 4.7%.

Bottom Line

As the housing market moves closer to a ‘normal market’ with more inventory for buyers to choose from, home prices will start to appreciate at a more ‘normal’ level, and that’s ok! If you are curious about home prices in your area, talk to a local real estate professional who can show you what’s going on!

Have a question about the value of your house?

Houses and Condos We Need for Buyers

As I mentioned above, the inventory is quite low. This week, we have 4 buyers that we are working with to find houses and condos for.

We need homes for the following buyers now.

Buyer #1

The next person we are looking for is a buyer who is looking purchase a condo. The buyer can spend about $200k. The condo fee should not exceed 300/month. The ideal location would be Framingham, Natick, Holliston, Ashland but we are “open” to other areas.

Buyer #2

The next buyer is a 1st time buyer who is looking to purchase in Watertown, Natick or Framingham. This buyer can spend up to 475k.

Buyer #3

We have a buyer who is looking in Dedham for About 400k – One level living is the most important factor.

Buyer #4
A young first time buyer looking ideally to be in “The Bridgewaters, Raynham, Norton or Taunton. Their purchase price is up to 325k.

If you know of anyone who may have a house or condo which fits these folks, reach out to me @
617-615-9435 or send me an email

 

Career in Real Estate

Considering a career change to real estate, eXp realty and my team is growing – Reach out if you are considering a career change. You can call me if you would like. The best # is 617-615-9435.

I am currently looking for one or two agents to join me on my team. If you are not licensed, I am happy to explore what a career in real estate may look like and how to go about licensing.

See more about eXp Realty here






logo Michael Mahoney Realtor, eXp Realty

617-615-9435
www.RealtorMikeMahoney.com
mike@mmahoney.com

September/October 2018 Market Pulse in Greater Boston

October 10th, 2018 by Michael Mahoney

September/October 2018 Market Pulse Boston: Should We Get the Crash Cart?

According to the National Association of Realtors, the pace of existing home sales is expected to decline slightly by the end of 2018.  I will not argue that overall the economy is great with population and economic growth up and that these should be great things for the real estate market, however we are seeing an impact on the market with mortgage rates rising above 5%. Although this is still low compared to when I purchased my 1st home in 2001, the increase is affecting buyers. Declining affordability is the issue.

The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the market moves closer to a buyer’s market.

Boots on The Ground: What Did You Hear on the Frontline?

I don’t like to working in vacuum, so I often solicit real time data from people in and around my business. The most obvious place for a Realtor® to get an understanding would be from a loan officer. I recently had a meeting with Adam Bibber, a loan officer with Loan Depot and asked him what he was seeing with buyers and loans.  Here is what he had to say:

“A lot of potential buyers seem to have become fed up with the super high sales prices this year, and losing out to cash buyers. A lot of them are sitting out – waiting for prices to go down – which creates a shift in the market as there is now less demand.”

The only thing I would add is that if you wait too long, then you will pay a higher interest rate. You can always buy a less expensive home, but chances are you will not be able to change the interest rate too much. To get the latest on rates and loans, please reach out to Adam Bibber at The Loan Depot

Why “Well If Thinking” Leads to the Slaughterhouse?

Is the Market Slowing or are People Just Being More Realistic?

I think that we see a typical run up in prices in the 2nd and 3rd quarter in any given year. Each year sellers eyewitness what their neighbors homes sell for and then randomly add some factor onto the value of their house and find a real estate agent who is dumb enough to listen to them.  This moved is based largely on their own personal perspective and what I like to call “well if thinking”.   “Well if thinking” is simply a stance that sellers take which essentially says well if the neighbor’s house is worth that, then mine is certainly worth more.

If you base your pricing on “well if thinking” and not true market value, then you will certainly become one of the 13 of 15 homes on the market who have to reduce their price by 4.6% just to get interested parties to look at it.

Properties seem to be taking a little longer than they had been taking to get under agreement.  In my opinion, it’s not crashing – it’s simply balancing out.

Search All Homes in Your Neighborhood Here

A Real Snapshot: Market Pricing in Walpole Massachusetts

To put this into context, I recently was working on property in Walpole, Massachusetts which is a suburb just outside of Boston by about 15 miles.  The property I was working on was priced under 500k.   This property should have gone under agreement rather quickly based on where the market has been in the last year or so. It actually took about 30 days to get an offer on the property.

As of today, there are 15 properties on the market in Walpole with a list price under 500k. The average time these have been on the market is 57 days.  Of the 15 properties on the market, 13 properties have been reduced.

In a couple of instances, some of properties were reduced twice. The average price adjustment was about 4.6% or just around $20,000.

Walpole MA Homes Chart with Recent Price ReductionsThe Bottomline

Regardless of interest rates and  “buyer frustration” families are created everyday and people need to live somewhere. The right house in the right condition with the right price sells everyday. In the United States, 5.5 million homes sell on average per year.  Essentially, 15,068 homes sell per day in the United States.  If you are planning on making a move, it’s always best to get the advice of professional.

Have a question about the value of your house?

 

 

Search All Homes For Sale
My eXp Realty Team in Boston is Hiring 
HomesinBostonMass – See it all here
Free List of Foreclosed Homes For Sale
Get the Equity Position of your House Now – Equitywatch
Boston Listings Search
What is Your Home Worth?
Michael Mahoney – Youtube Channel


Michael Mahoney Realtor on Zillow 

 

More @ my About Me Profile

 

My profile on Linkedin

Michael Mahoney
Realtor
eXp Realty
Serving Greater Boston
617-615-9435
Contact Me

 

     

Read my other blog here 

EXP Realty Realtor Michael Mahoney

Realtor Michael Mahoney on Facebook

 

Check out eXp Realty for yourself. Interested? Call me I will give you a webinar overview

Agents Are Shareholders at eXp Realty
No desk fees. No royalty fees. No franchise fees. Keep 80-100% of your commissions. eXp Realty also offers every agent the unique opportunity to become a shareholder in their own company, and celebrate the company’s financial success. See more here

Michael Mahoney | Greater Boston Realtor with EXP Realty

Some of the area Michael Mahoney services:
AshlandAttleboro Bellingham Boston Canton Dedham Dorchester Dover Foxboro Framingham
Franklin Holliston Hopedale  Hyde Park Mattapan Medfield Medway Milford Millis Milton Natick
Norfolk North Attleboro  Norwood Plainville
Quincy Randolph Roslindale Sharon Sherborn Stoughton Walpole Wellesley
West Roxbury Westwood Wrentham

 Get the value of Any Boston Area Property Now @ www.HomeValueBoston.com

Greater Boston Real Estate Report

October 5th, 2018 by Michael Mahoney

Greater Boston Real Estate Report

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Should I Join eXp Realty?

September 21st, 2018 by Michael Mahoney

Should I Join eXp Realty?

There are a lot of real estate agents joining eXp Realty this year. Since I joined around January 2018, the company has doubled in size.  As a result of all these agents signing on,  many people call me to ask me the following question – “Should I Join eXp Realty?”

The answer to the question really depends. It depends on you. It’s not the brokerage for everyone. Every agent has their own specific needs and wants.

What I can say for sure is the following:

If you like paying desk fees and royalty fees and enjoy hearing about the vacation home your broker bought with your commissions, then you should stay where you are.

At eXp Realty, there are no desk fees. No royalty fees. No franchise fees. Agents keep 80-100% of their commissions. eXp Realty also offers every agent the unique opportunity to become a shareholder in their own company, and celebrate the company’s financial success.

The bottomline for mos agents is that this will be a very cost effective solution for them to operate their real estate practice within. The following is the current (9/18/2018) costs associated with affiliating with eXp Realty.

These are the costs associated with joining exp realty. This is helpful to understand while you are wondering if you should join exp realty

See more about eXp here

What’s different about eXp Realty?

Many agents are accustomed to “going to the office” even though after 17 years I pretty much stopped going into an office a long time ago.

The basis of eXp Realty is that it is an online cloud brokerage. Essentially, all brokerage operations and interaction with the back end of the company are done over the internet using an online campus where you communicate in real time with staff and support.

It’s an amazing platform where you don’t have to drive to the office to track down a check or a form that you need for your transaction. You can visit the brokerage operations online and speak with staff in real time from anywhere you are.  Remember the last time you drove to the office to track something down only to find out that the support staff member was not available that day to help because they were off site?

exp Realty virtual world

You can access accounting, tech support and brokerage operations from anywhere you have internet connection in real time at eXp Realty

 

Bricks and Mortar Brokerages Versus Online Brokerages Like eXp Realty

As an agent who has been at it a long time, I pretty much have not used the office in very long time. Although for many years, I always maintained a desk or an office in the brokerage, I realized that I never really used the office space that I was paying for. I have been with Coldwell Banker, Re/Max and Keller Williams. Each model has it’s own pros and cons.  I would say that I ultimately enjoyed all my time with Keller Williams the most in that it’s model aligned best with my personality.

However, when I was shown eXp Realty by some former Keller Williams agents it was a no brainer for me.

After realizing how much I was paying the broker that I was with for office space I did not use, eXp Realty was a “no brainer for me”.  Just in the commission splits alone, I probably saved over $10,000 a year basically doing the same business without the excessive office charges for space that was not being used. If you add in the monthly expenses, and the revenue sharing plus the stock awards it’s probably closer to a $15,000 per year savings.

Does Having an Office Space at The Street Matter?

Today, the clients are so mobile, they almost prefer to have you meet them at locations that work for them. In the Boston area where I work, there is pretty much a Panera or Starbucks in every town so I often meet clients there.

Many agents at eXp rent their own spaces with a couple friends.

 

 

 

Current Wrentham MA Homes Under 400k Market

September 20th, 2018 by Michael Mahoney

Current Wrentham MA Homes Under 400k Market

Here are a couple of reports on the single family home market in Wrentham Massachusetts.

Wrentham Single Family Homes Sales for Homes Under 400k

Download the report on Homes Under 400k in Wrentham Here

Massachusetts Statewide Closed Sales for Condos and Single Family Homes

Massachusetts Statewide Report by Realtor Michael Mahoney of exp Realty

Search for your dream home now

See All Homes for Sale in Wrentham MA

Greater Boston Real Estate Report SEPT 2018

September 20th, 2018 by Michael Mahoney

Greater Boston Real Estate Report SEPT 2018

Download the Greater Boston Real Estate Report Here

Download the Report Here

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Greater Boston Real Estate Report SEPT 2018

September 20th, 2018 by Michael Mahoney

Greater Boston Real Estate Report SEPT 2018

 

Would you like to know what’s happening in Boston real estate? Here is a quick two pager that summarizes the market in under a minute.

Thanks for your interest in the latest Greater Boston Real Estate Board Report.

You can click here to request the Boston report  or click the report below . 

You will instantly be granted access to it.

Boston Home For Sale By Owner

September 14th, 2018 by Michael Mahoney

Boston Realtor Michael Mahoney on Why He enjoys Boston Homes Being Sold For Sale By Owner

I love the opportunity that the for sale by owner affords the buyer clients. I am often able to locate and broker deals that significantly allow the buyer to purchase under the market value. Many of the for sale by owners mis-price their homes or don’t market their homes properly. This allows for smart agents to find real deals in the Greater Boston area for our clients.

If you see a FSBO and you have an interest in it, please reach out. I would be happy to assist.

 

How to Own a Home in Greater Boston for Under $1000

September 13th, 2018 by Michael Mahoney

Stop being a tenant in Boston and Become an Owner

Realtor Michael Mahoney will show you for a modest investment how you can become a homeowner in Boston.

Buy This Condo at The Sanford Mill as 1st Time Buyer and Pay Your Kids College Tuition

September 8th, 2018 by Michael Mahoney

Buy This Condo at The Sanford Mill in Medway as a 1st Time Buyer and Pay Your Kids College Tuition

The price on this loft style condo at the Sanford Mill is $249,000. It’s a great place to get started as a first time home buyer. Live here…build a few years of equity. Then hold as a rental. Pay kids college w/ sale in 15-20 years. See more about it here

See All Sanford Mill Condos in Medway Here

MLS # 72389230
Condo – Mid-Rise, Loft
14 Sanford St – Unit 41
Medway, MA: Medway Village, 02053-1008
Norfolk County
List Price: $249,000
Unit Placement: Upper, Middle, Courtyard
Total Rooms: 4
Unit Level: 4
Bedrooms: 2
Bathrooms: 2f 0h
Master Bath: Yes

Outdoor Space Available: Yes – Common
Handicap Access/Features: Elevator
Directions: Village St to Sanford St located in the Sanford Mill

Here is what the MLSPIN had to say about the unit

An absolutely stunning unit in one of the most sought after buildings in all the land. With a lofty, open floor plan, vaulted ceilings, and massive floor to ceiling windows, it’s perfect for entertaining, creating, or just Netflix and chilling. The exposed beams and brick remind you of the mill’s history, and gives you a unique urban feel, while being surrounded by the natural beauty of the Charles River and Sanford Mill Dam. Kitchen and baths have many upgrades, including stainless appliances, slate kitchen countertops and new bathroom vanities. Full walk through closet in the master gives you plenty of wardrobe storage, and connects to the full master bath. Included are 2 deeded parking spaces and shared use of the picturesque picnic and seating areas on the property overlooking the river. It’s perfect, whether you choose to partake in the resident’s many social gatherings, like Cocktails on the Charles or the annual Condo Crawl, or just come home to relax in peace. Listing courtesy of  listing Broker Preservation Properties

Get the value of your condo now

 

14 Sanford Street Medway - The Sanford Mill

What You Say Matters – Use Scripts by Tom Ferry

September 8th, 2018 by Michael Mahoney

What You Say Matters Use Scripts by Tom Ferry

As a real estate agent, what you say matters. It’s important that we are communicating with our clients in the most effective manner.

A way to ensure that our communication is not a hindrance to our business is to learn scripts. Many people don’t like scripts because they think it’s not them or that it makes them sound funny.  The truth is that every professional business person you interact with has a script. It’s how good businesses run. Why do you think people buy franchises?

A script is really a good way to ensure a good outcome for both you and the client as the process of working together to buy or sell a house unfolds.

In order to be an effective real estate agent, it helps to know what to say to client. If you are just winging it, the client experience will not be as good as it could be for the client. Download the free Tom Ferry Scripts here

this is the link to download all the real estate agents scripts by tom ferry

 

In order to help some of our agents here at eXp Realty, I have made available to you a book of scripts by Tom Ferry.  I would study these Tom Ferry scripts and internalize them.  Read the scripts that are relevant to your daily business on a continual business and watch your business skills improve.

Tom Ferry is an amazing real estate trainer. You really should check out his book. See Tom’s book here

If I can help you with anything at all, please feel free to reach out to me at 617-615-9435. 

Search All Homes For Sale
Thinking About Joining eXp Realty
HomesinBostonMass – See it all here
Free List of Foreclosed Homes For Sale
Get the Equity Position of your House Now – Equitywatch
Boston Listings Search
What is Your Home Worth?
Michael Mahoney – Youtube Channel


Michael Mahoney Realtor on Zillow 

 

More @ my About Me Profile

 

My profile on Linkedin

Michael Mahoney
Realtor
eXp Realty
Serving Greater Boston
617-615-9435
Contact Me

 

     

Read my other blog here 

EXP Realty Realtor Michael Mahoney

Realtor Michael Mahoney on Facebook

 

 

 

Michael Mahoney | Greater Boston Realtor with EXP Realty

Some of the area Michael Mahoney  includes:
AshlandAttleboro Bellingham Boston Canton Dedham Dorchester Dover Foxboro Framingham
Franklin Holliston Hopedale  Hyde Park Mattapan Medfield Medway Milford Millis Milton Natick
Norfolk North Attleboro  Norwood Plainville
Quincy Randolph Roslindale Sharon Sherborn Stoughton Walpole Wellesley
West Roxbury Westwood Wrentham

 Get the value of Any Boston Area Property Now @ www.HomeValueBoston.com

Who Do You Know Who is Paying Rent in the MetroWest?

September 7th, 2018 by Michael Mahoney

Who Do You Know Who is Paying Rent in the MetroWest?

Condos under 200k in the metrowest

Who do you know paying rent in the Metrowest? Here are some decent condos under 200k’sh that would get the landlord off your monthly payroll….See these condos here

 

 

Reviews

5suzannechapman1208

I selected Mike after having a very unsuccessful experience with a previous broker. He had excellent ideas in helping to sell my house and continued to advertise it with a fresh perspective. His experience helped in a number of ways and I only wish we had... (more)

5goodlife99

This is the second property I have sold in Weymouth MA with Mike as my broker. He research the area and give you all the information you need to decide what to list your property for, so it sells timely. He also helps review and negotiate all offers and is... (more)

5SullyLemmons

We had been trying to sell our condo for well over a year and decided to give Mike a shot at it as he came well recommended. It was not easy for him but he persisted and had success. Even though it wasn't a big sale or profit for him, he acted as though it... (more)

Review Michael Mahoney on Zillow.com

Community Events

44th Annual Gardeners’ Gathering

Greater Boston Permaculture Guild

FREE & Open to all The Gardeners' Gathering brings together over 450 gardeners to kick off Boston’s gardening season. As the city’s largest educational forum for urban gardeners, the Gathering is an opportunity for people to share ideas and...

Exhibits of Mexican Artists at the MFA

Speak Spanish Meetup

The MFA will be running two exhibits concurrently that feature the work of prominent Mexican artists, Frida Kahlo and Arte Popular (2/27-6/16) and Graciela Iturbide’s Mexico (1/19-5/12). I am planning a date to go in March to be able to see...

Meetup for March 23rd, Mark Meagher's Feature Script "The Prospect"

The Boston Screenwriters Group

Greetings all members! It's been far too long a time since we've met as a group! We will be starting up the hot-seat writer meetups after a long hiatus. Good to see some members taking advantage of our collaborative meetup with the 'Blacklist...

Freedom From Painful Emotions

Meditation in Boston

“Am I EVER going to feel better?!” “Why won’t this sadness go away?” “How can I change to get out of this slump?” Questions like these ring around many peoples heads these days, and many feel hopeless at the prospect of ever feeling...