Sell Your Boston, MA Home This Fall!

Have you been putting off the home-selling process in Boston, even though you’ve been ready to sell for a while? Are you ready to move up to a better home? Have you wanted to relocate closer to family, or closer to your job? Are you ready to retire into assisted living, or downsize as empty nesters? Whatever the reason, as your Boston real estate agent, I’m here to tell you that now is an excellent time to sell your Boston home!

Here are some reasons why KCM Crew says you should consider selling this fall:

1.  Demand from Boston homebuyers is strong. Mortgage rates fell last week and remain at yearly lows, which was not predicted for this year! Still, economists predict that rates will rise by at least one percent in the next year, which means that buyers can save a lot of money by purchasing a home now. The more buyers that are eager to buy, the more interest you’ll get in your home, and the more negotiating power you’ll have!

2.  Now is the time to move up. If you want to sell your Boston home and move up to a bigger or better home, low mortgage rates affect you too. If you buy a Boston home now, you’ll save yourself hundreds of dollars per month on your monthly mortgage payment by getting a low mortgage rate. Start the pre-approval process now and see what type of rate you can get!

3.  There is less competition. Inventory is still below normal levels, and while new home inventory is expected to make a comeback soon, it hasn’t yet. A recent survey showed that 41 percent of buyers prefer a new house, over 21 percent who prefer an existing house. Take advantage of the low competition by selling now, while buyers are eager! This is an ideal situation.

4.  The process is faster this time of year. The length of time it takes from contract to closing has increased this year, due to more requirements and paperwork from banks. The summer time is busy, because the Boston real estate market is very active. The winter months take a long time because of the holiday season. Right now, during the fall, is the best time of year for a smooth transaction!

5.  It’s time to move on. No matter what reason you have for wanting to sell your Boston home, why are you waiting to accomplish that goal? Home prices are up, mortgage rates are still down, home equity is returning, foreclosure numbers are way down, and the housing recovery is steadily continuing. Now is the time to relocate, or move up, or grow your family, or start a new job, or downsize, and move on with your life and your dreams.

When you’re ready to sell your Boston home, contact me, your Boston real estate agent. I would love to help you accomplish your real estate goals in the Boston real estate market!

Patti Fine

Phone: 617-642-7585
Email: pf@pattifine.com

Patti Fine Real Estate

Greater Boston Area Homes

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The 5 Most Common Boston Home Seller Mistakes

Chances are, you probably don’t go through the process of selling a Boston home very often.  This being said, there tend to be common mistakes that I see happen frequently with Boston home sellers.  Here are 5 that I probably see the most often, so If you’re looking to sell your home, take note!

Neglecting repairs and appearance.  No one wants to purchase a home that appears to be poorly maintained.  Unless they are searching for a “fixer upper”, buyers don’t want to have a long, expensive to-do list as soon as they move into a home. Inspect your home top to bottom for repairs, big or small.  Any repairs that aren’t particularly costly should definitely be completed.  If there are larger repairs that need to be done, you will need to decide whether completing them will be a benefit to the selling price of your home; however, keep in mind that all issues must be disclosed to buyers. Also take the time refresh the exterior of your home — repaint the front door, clean or update hardware, plant fresh flowers.  Anything that will make your home look more appealing when a buyer drives up.

Unappealing pictures.  Since so many start their home search on the internet, the pictures of your home have to make it look its best.  It can be a wise investment to hire a professional photograph.  A real estate photographer is trained to catch the best angles of your home and has the proper equipment to do so.  Great photos can definitely help your home stand out from the pack when a buyer is sifting through a sea of homes on a website.

Pricing your home too high.  Your home must be priced in line with those in the area that are comparable to it.  If your home is one the high end of those available, you will be turning away potential buyers.  It is best to price your home near the median of the available homes in your area.  This will allow your home to fall into as many home searches as possible.

Letting your emotions take over.  While difficult, you have to try to keep your heart out the sales process of your home.  If your realtor recommends that you remove certain taste-specific items from your home, it’s only because he or she wants it to have broad-base appeal.  Should a buyer come to you with a low-ball offer, try your best to not be insulted.  Much like you’re trying to get the most you can for your home, buyers are trying to get the best deal they can on their new home.  Use the low offer as a jumping off point for negotiation.  You cannot take anything that happens during the home sale process personally.

For sale by owner:  Since you don’t sell homes for a living, it is a good idea to enlist the help of a trained real estate professional.  Hiring a realtor who is experienced in your market will be able to assist you in pricing your home correctly to attract buyers.  A realtor will also be able to help you prevent all common pitfalls that sellers tend to fall into by giving you an objective point of view. Overall, enlisting a professional will alleviate much of the stress than can come along with selling a home.

These are just a handful of the mistakes that I have encountered with the sellers I’ve worked with over the years.  With all that’s involved with selling a home, it’s no surprise that this is the case.  As a seasoned Boston real estate agent, I work closely with my clients to help ensure that the sale of their home goes as smoothly as possible.  If you have been considering the purchase of Boston real estate, please contact me.  I look forward to helping you avoid these mistakes while finding the Boston home of your dreams.

Patti Fine

Phone: 617-642-7585
Email: pf@pattifine.com

Patti Fine Real Estate

Greater Boston Area Homes

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Why You Should Sell Your Boston, MA Home This Spring!

In my last blog post, I shared with you why the ideal time to buy a Boston home is this spring. When that is the case, sometimes it means that it’s a buyer’s market and it isn’t the ideal time to sell. That is not the case right now! It is the ideal time to buy because if buyers wait, they’ll be paying more. However, the favor is in the hands of Boston home sellers. This is your time!

Housing Wire shared an article that stated that 2014 should prove to be the strongest year for housing activity since before the Great Recession, that demographics should start to favor housing activity, and that mortgage availability shouldn’t worsen and may improve. All of those projections set up the rest of this year as being ideal for buying or selling real estate in the Boston real estate market!

So, why should you sell now rather than wait for home prices to increase even more, as they are predicted to do? As your Boston real estate agent, I want to help explain that to you.

Competition will increase.

It is almost a sure thing that the Boston real estate market will heat up as the weather heats up, and since we had a slow winter market, this may be even truer this year than in the past! New homes are also on the rise around Boston, MA.

This means that your listing will be up against a lot more listings if you wait, and then potential Boston homebuyers will have a lot more options, which means that you lose some of your negotiating power and appeal. When you sell with fewer homes on the market, this forces more buyers to take an interest in your home, and to possibly even begin a bidding war on your home.

If you have lots of interested buyers, you can raise the price and perhaps get more for your home than if you were to wait for prices to appreciate on their own. And with prices and mortgage rates predicted to rise, it’s a good idea to sell now, while buyers are still out and eager! They might disappear if home affordability lowers too much all at once.

Buy up or down now.

If you are looking to sell your Boston home so that you can downsize, upsize or relocate, now is the time to do it. Rising mortgage rates and home prices will affect you, too. The longer you wait, the more you’ll be paying for your next house, especially if you’re looking to buy a bigger, better home. If you’re downsizing, you’ve got some more leeway. If you’re relocating, it depends on how the real estate market is doing in that area. But if the size or location of your current home is stressing you out, don’t put off changing your circumstances any longer.

If you’re happy where you are, and you have some time to wait for rising equity, that is a decision that is fully up to you. If you can afford repairs, perhaps you’d rather go that route. If you like your location, there is no reason that you have to move right now. Use this MSN Real Estate article to help you decide whether moving now or waiting is the right choice for you.

If you’re feeling unsure whether to sell your Boston home this spring, contact me, your Boston real estate agent. We can discuss your options! If you know you’re ready to sell, I am here to offer you professional assistance. 

Patti Fine

Phone: 617-642-7585
Email: pf@pattifine.com

Patti Fine Real Estate

Greater Boston Area Homes

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2014 Housing Market Predictions for Boston, MA!

Happy New Year! As your Boston real estate agent, I hope you enjoyed your holidays and ringing in a new year. It’s time to start thinking about your real estate goals for 2014. Is this the year you’ll buy a Boston home? Is this the year you’ll sell your Boston home? Would you like to move up or to downsize this year? Will you do some remodeling? You’ve got a fresh slate and tons of options!

To help you decide, I’d like to fill you in on the current conditions of the Boston real estate market and 2014 predictions from industry experts. This information can help you set up a time lime for when to accomplish your home-buying or home-selling goals.

According to the latest Existing Home Sales Report from the National Association of Realtors, existing home sales are 1.2 percent lower than last year. This could be due to the cold and snowy weather we’ve been getting, and from low inventory.

However, home prices are soaring and are up 9.4 percent from last year! That’s great news for Boston homeowners hoping to sell this year. Inventory is five percent greater than it was a year ago, and hopefully on a continued trend upward. Distressed sales are also down, accounting for only 14 percent of all sales. Last year, they were 22 percent.

Industry experts’ predictions for the coming year include:

• Stabilizing inventory. Boston home sellers will finally arrive to the Boston real estate market as home prices continue upward and homebuyers are eager to buy. This will increase the inventory, which is great news, because there is not currently enough inventory to meet buyer demand!

• Positive equity. While many Boston homeowners have been dealing with negative equity, as the housing market continues to recover, so do home values and equity. As more homeowners reach positive equity, more will be apt to sell, also leading to rising inventory.

• Increasing mortgage rates. As the housing recovery continues, mortgage rate will continue to increase. This will cause Boston homebuyers to buy quickly, beating rising rates. Boston home sellers who are looking to move to a larger home will also want to sell quickly, to receive a low rate for their new home.

Foreclosure activity is expected to continue dropping, and as everything recovers and returns back to normal levels, home affordability will decline. More information on these real estate predictions can be viewed here.

What does all this mean? It means that if you want to sell your Boston home, this is the year! The smart thing to do would be to sell sooner than later, in order to beat the rising inventory and competition from new homes. If you’d like to buy a Boston home, sooner is better also, before mortgage rates rise and buyer competition arrives on the market.

Need help accomplishing your 2014 real estate goals? Contact me, your Boston real estate agent! That’s what I’m here for!

Patti Fine
Phone: 617-642-7585
Email: pf@pattifine.com
Patti Fine Real Estate
Greater Boston Area Homes
Search Greater Boston Area Homes