Boston Realtor Mike Mahoney
Michael Mahoney
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March 2019 Report on Greater Boston Residential Real Estate Activity

May 7th, 2019 by Michael Mahoney

March 2019 Report on Greater Boston Residential Real Estate Activity

Michael Mahoney, Realtor®
eXp Realty
617-615-9435
mike@mmahoney.com | www.RealtorMikeMahoney.com

Boston Real Estate Market

The median sales price of single-family homes continued to increase last month to a new record-high for the month of March at $595,000. This reflects a 3.4 percent increase in median sales price from March 2018 of $575,500. The condo market experienced a very modest 0.2 percent increase in median sales price, increasing to $550,00 last month, up from $549,000 in March 2018.

 

“We’ve yet to see these record-high prices quell any buyer enthusiasm, and sellers should take advantage of
these higher price points and growing buyer population,” added Major. “With inventory levels as they are, we
should expect a robust spring market, as we’ve also seen an influx of pending sales which we can anticipate
will close in April and May.” James Major – Greater Boston Association of Realtors

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Detached Single-Family Homes Sold in Greater Boston

The 793 homes sold it was the sixth highest sales volume for the month and was a 6.9 percent increase from the 742 homes sold in March 2018.
The median sales price reached a record high for the month of March at $595,000, as is rose 3.4 percent from the March 2018 median sales price of $575,500.

Condominiums Sold in Greater Boston

With 691 condos sold, it was the tenth most active March on record in Greater Boston, and a 9.9 percent decrease in sales from the 767 units sold in March 2018. The median sales price of condos experienced a very modest increase, up 0.2 percent from $549,000 in March 2018 to $550,000 this year, a new record-high for the month.

Multi-Family Homes Sold in Greater Boston

This month, there were 150 multi-family units sold in Greater Boston,which reflects a 1.3 percent increase in sales volume from the 148 multifamily units sold in March 2018.

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

 

     

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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 Covers 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

Boston Real Estate Market January 21 2019

January 21st, 2019 by Michael Mahoney

This week the median list price for Boston, MA is $750,000 with the market action index hovering around 33. This is less than last month’s market action index of 37. Inventory has held steady at or around 89.

Market Action Index

The Market Action Index answers the question “How’s the Market?” by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller’s Market conditions. Below 30, conditions favor the buyer.

Slight Seller’s Advantage

The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.

Michael Mahoney
Boston Realtor
eXp Realty
617-615-9435
mike@mmahoney.com

Boston eXp Realtor Michael Mahoney on Boston Real Estate Stats

January 16th, 2019 by Michael Mahoney

Boston eXp Realtor Michael Mahoney on Boston Real Estate Stats

Michael Mahoney
eXp Realty
617-615-9435
mike@mmahoney.com

#Boston #realtor #exprealty

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.

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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

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.

 

Turn off the Negative Self Talk Radio

August 21st, 2018 by Michael Mahoney

Turn off the Negative Self Talk Radio

Last night I had a great call with one of the agents I mentor here at eXp Realty. He and I spoke about what turned things for him recently. This person told me about listening to Earl Nightingale’s Strangest Secret. You can find that on Youtube. Earl was considered to be one of the forefathers of personal development.

I suggested a few more people for this person to check out which may help provide some motivation.

Remember “thoughts become things”.

In no particular order, here are some people you can check out on Youtube and get some inspiration from:
1. Les Brown
2. Jim Rohn
3. ET (Eric Thomas) The Hip Hop Preacher

I just wanted to share these with you, because at any given time in the real estate sales business the negative self talk can creep in. By finding and listening to people like the aforementioned you can build a stronger mindset which is going to help you get turn down the negative self-talk radio.

Hope to see you all on Thursday @ the class in Mansfield. If you click the Google calendar icon below, you can add it to your calendar.

If you are looking to take your real estate career, you should consider looking @ eXp Realty. We have many mentoring and training options available.  If you would like to attend a one to one webinar on eXp Realty – send a text to 617-615-9435 or email me @ mike@mmahoney.com

Have a GREAT DAY!

Michael Mahoney
www.RealtorMikeMahoney.com
eXp Realty Boston
617-615-9435

Open House Today at 439 North Main Street Sharon MA

June 3rd, 2018 by Michael Mahoney

Open House 439 North Main Street Sharon MA

All Homes for Sale in Sharon MA by Realtor Michael Mahoney

Sample Financing for 439 North Main Street

439 North Main Street Sharon MA

Homes for Sale Sharon MA Presented by Realtor Michael Mahoney

439 North Main Street Sharon MA Sample Financing by Thea Simolari of The Mortgage Network

June 3rd, 2018 by Michael Mahoney

439 North Main Street Sharon MA Sample Financing by Thea Simolari of The Mortgage Network

439 North Main Street Sharon MA

Own a turnkey move in ready house in Sharon for under 375k. 439 N. Main Street offers convenience to shopping, highways, and the commuter rail in both Sharon and Canton. It’s close to both Canton Center and Sharon Center. You can walk to the Starbucks at Cobbs Corner from here. There are three beds and a renovated bath on the 1st floor. This home could accommodate first floor living if desired by a buyer. There is a finished room in the lower level making for the perfect gym, home office or playroom. The family room off of the back offers a wall of windows looking onto a tiered yard. There is also a shed to store garden equipment, bicycles and recreational items.

Here are the full details on 439 North Main Street in Sharon

All Homes for Sale in Sharon MA by Realtor Michael Mahoney

439 North Main Street Sharon Massachusetts
Overview
Maps
Photos
Open House
$369,000
Single Family Home
Main Features
3 Bedrooms
1 Full Bathroom
1 Unit
Interior: 1,611 sqft
Lot: 10,415 sqft
Year Built: 1950
Location
439 North Main Street
Sharon, MA 00267
USA
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Sample Financing by Thea Simolari of The Mortgage Network

439 North Main Street Sharon MA

Sample Financing for 439 North Main Street Sharon MA

 

Thea Simolari of The Mortgage Network has provided financing options on the property at 439 North Main.

You can reach Thea at TheaSimolari.com

 

Homes with Pools in Norfolk County

March 24th, 2018 by Michael Mahoney

Homes with Pools in Norfolk County

Homes with Pools in Norfolk County by Realtor Michael Mahoney

Homes with Pools in Norfolk County

 

What are Homes and Condos Selling for in Dedham MA

March 23rd, 2018 by Michael Mahoney

Michael Mahoney on house and condo prices in dedham MA

Home and Condo Prices Dedham MA

 

Buyers Need to Be Ready for Tight Inventory This Spring

March 12th, 2018 by Michael Mahoney

Buyers Need to Be Ready for Tight Inventory This Spring

Michael Mahoney Boston Realtor on a Home Breaking Your HeartWith the Spring market coming, you need to make sure you have your ducks in order and be prepared to have your heart broken in the housing market as inventory is extremely low.

I would say that one the first things a buyer’s agent in Boston needs to do with a client is set expectations.  We need to offer clients a realistic outlook on today’s marketplace, and explain what it will mean for them.

With the inventory as slim as it is, a buyer’s agent needs to prepare clients for facing limited inventories.  In short, you may not get everything on your wish list.   There is high competition for many properties and you need to be ready to act fast and possibly face bidding wars for properties currently on the market.  Also with lower inventory comes rising prices.  You need to get your finances in order before you shop and understand that mortgage rates are expected to keep rising, which could add to your borrowing costs if you delay buying. As rates rise, your borrowing power is diminished.

From a recent Realtor® Magazine article on the current state of the market in the United States, Here is what Rob Mehta a Realtor in Minnesota had to say:

“Preparing buyers for the reality of a seller’s market is important,” Mehta says. “Some buyers may have to face the heartache of losing at least one house and having to go through that one loss before heading into the second offer more prepared and pickier about what contingencies they include in order to submit a cleaner offer to the seller.”

Be ready to act fast. Forty-three percent of the existing homes sold in January were on the market for less than a month, according to the NAR. Buyers who have a preapproval letter and who attach limited contingencies to their offer may have the best chances of getting their offers accepted. Preapproval—a step beyond getting “prequalified”—is an analysis from a lender of the buyer’s credit and assets that indicates how much financing the buyer has been approved for. A preapproval letter can be submitted with offers to add some assurance to sellers that there won’t be any hold-ups in financing. Also, a preapproval reminds buyers what they can afford to pay. In bidding wars, buyers can get caught up in the emotional process of the back-and-forth within negotiations, but there’s a lot of risk to that. “We need to share with our buyers that they could overpay and get caught up in the emotional aspects of the process,” Mehta says. “Our fiduciary responsibility is to provide the positives and negatives of a property and to advise clients accordingly in a transaction. We need to be upfront with our valuations and help them make smart decisions, and we watch the contracts carefully so that our buyers are protected.”

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October 21st, 2017 by Michael Mahoney

 

Open House Today 64 Percival Street Dorchester MA

64 Percival Street Unit 1 | Two Bedroom | 1 Bath | Condominium | Set on Ronan Park

Open Houses this Weekend SAT and SUN

See more about this condo here

 

Open Houses This Weekend at 64 Percival Street Unit #1 Dorchester 02122

October 20th, 2017 by Michael Mahoney

64 Percival Street for Sale by Michael Mahoney of Keller Williams

Open Houses This Weekend at 64 Percival Street Unit #1 Dorchester 02122
2 Bedroom condo
MLS#: 72241055
385k
Address: 64 Percival St U:1, Boston, MA : Dorchester

Open House SAT 11-1230
Open House SUN 12-1

See all Dorchester Condos for Sale Here

Mike Mahoney
Realtor with Keller Williams

Get the value of your home instantly at:
www.homevalueboston.com

P.S. We are looking to hire and mentor two real estate agents in Norfolk County around Dedham,Canton,Milton,Norwood,Walpole,Medfield,Sharon,Norfolk – Interested check out http://www.realtormikemahoney.com/hiring

Amazing Condos in Boston’s West End

October 17th, 2017 by Michael Mahoney

Click Above for Boston's West End Condos by Realtor Michael Mahoney

Click Above to See Amazing Condos in Boston’s West End

New Listing at 64 Percival Street #1 Boston MA Two Bed Condominium on Ronan Park

October 11th, 2017 by Michael Mahoney

New Listing at 64 Percival Street #1 Boston MA Two Bed Condominium on Ronan Park in Dorchester

Michael Mahoney Realtor Offers For Sale this 2 Bed Condo at 64 Percival Street #1

Condo for Sale at 64 Percival Street #1 Dorchester MA 02122

Great new two bedroom condo in the area next to Ronan Park. Super convenient for people who want to access the city. Many neighbors walk from the neighborhood to the Fields Corner Redline Station. You can see more about 64 Percival Street Unit 1 in Dorchester, MA 02122 below.

Interested in knowing what your property is worth? Get the value of your home now

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64 Percival St, Unit 1, Boston, MA 02122 (MLS # 72241055)

(all data current as of 8/21/2019)
Price $350,000
Beds 2
Baths 1 full
Home size 927 sq ft
Lot Size 927 sqft
We have a loan program from as little as 3% down to make a purchase on this condo. ***Open Houses 11/4 & 11/5 1-3 PM Both Days*** You can get the landlord off of your back and become an owner instead of a renter. The one you have been looking for. A two bedroom with lots of updates. Investors & Savvy folks take note...There is a place to cut in a third bedroom making more rent or room for more people.Converted in 2013. At that time, a new kitchen and bath was installed. There is a waterview of Dorchester Bay from the rear deck. Recent updates include a roof that was installed last 3 years, new porches and a new front door. Private Laundry & Storage in the basement. PET FRIENDLY! This area is conducive to a pedestrian lifestyle. Many residents in the area walk to the Redline. Association has a healthy 7k in the reserves. City of Boston 2018 estimated property tax is $253.10 reflective of residential exemption. Currently all three units owner occupied. Quick close possible.

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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

Listing provided by Michael Mahoney, Keller Williams Realty - Foxboro/North Attleboro

(view all details for MLS #72241055)

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)

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