Scituate, MA

Okay, I know I haven't blogged in awhile.... Truth is, for a good reason. I've been too busy! Our local market has been very hot. The $8,000.00 tax credit has definitely come into play. The inventory of homes in the 300s - 400s has been moving for a few weeks. This has prompted a "trickle up" effect - homes in the 500s - 600s have started to move.

I was skeptical at first. How could first time buyers afford homes in this price range? But, sure enough. In checking with other agents, roughly 75% of these buyers are indeed, first time buyers.

Where are the sellers going? Why, Scituate, of course! The "Scituate Scramble" is on! I've have seen first-hand these sellers scrambling all over town to find their perfect moving up house.

This is usually the time when the market begins to slow into a summer lull. I don't think that will happen this year. With the November 30th deadline, we will probably be busy all the way through the 3rd quarter.

For the stat lovers:

158 Single Family homes currently Active - 15 currently have accepted offers.
30 Single Family homes are in escrow. A very good number. The average list price of these homes is $548,000.00 and the days on market average is 126 - we usually average 150 days....

All good indications that keep me hopeful. I am already anticipating that the beach will not see me much this summer ;)

The current market conditions in Scituate are fair. The final numbers for the 4th quarter were disappointing (compared to '07), and the current sales for this 1st quarter of '09 are lower than the same period in '08 (with a few weeks still to go). Actual sales numbers are showing that values have decreased slightly (3-4%), but still no where near the national average.

While this may seem dismal, we are seeing more and more buyers jumping back into the market - of course, due to the low interest rates. The current inventory of single-family homes for sale is still pretty low. Of the 120 homes listed in MLS, 7 are actually condos or duplexes and 5 are technically "off the market" (accepted offer status). I personally know of 2 others that have not been flagged, but are also in accepted offer status. The good news is that the inventory of homes that have been languishing are finally moving and new listings coming on the market are selling faster IF they are priced correctly.

The sellers I am currently speaking to about selling their homes are treading very carefully - as well they should. It's a matter of doing your homework and paying close attention to the numbers. If my CMA (Comprehensive Market Analysis) reveals that you could sell your home for X amount of dollars, but you need Y to reach your goals, then DON'T sell. If you must sell for various reasons, let's list it at a price that makes sense AND that a lender will approve. The HOT price range right now is 300 - 450... Since the new year, 32 single family homes have sold or are currently in escrow. Thirteen of those homes were on the market for less than 100 days. Five were over 300 days. The "average" days on market we have been seeing is 150....

And from the "this just in" department.... Scituate has once again made Boston Magazine's Best list! We were listed last year under the Best Places To Live. This year, in keeping with the spirit of the current economy, the list is appropriately altered. Scituate is one of the towns under the "Top Burgs for Bargain Hunters". It seems Hingham has also made the list again- as a "Recession Proof" town. While I'm not sure that I agree with their numbers, the magazine also breaks down ALL of the towns in Massachusetts to see where we all stand with regard to home values.

The snow is FINALLY melting! C'mon Spring!

Are you thinking of putting your home on the market? I have a buyer who has seen everything currently on the market and is anxious to buy in Hingham, Cohasset, Scituate (mid to north), or the north side of Norwell. They are looking to spend up to $700,000, have nothing to sell, and a 20% downpayment.

This family is looking for at least 1900 sq ft, 3-4 bedrooms, preferably with at least 3 bedrooms on the second floor. No busy roads, splits or raised ranches.

Curious and thinking about selling? Contact me!!

Real Estate in Scituate, MA

Market Report

and Thoughts on the Economy

January 2009

The current conditions here in Scituate remain steady. The final numbers for 2008 reflect an overall decrease from ‘07, but still better than "our worst year" - ‘06. To put the course of Scituate's single family home sales in perspective, I went waaaay back - to 2002. Sometimes it helps to see the big picture:

To put these numbers into perspective, let's look at Scituate compared to Plymouth County (2004-2008):

See that nice steady line? Note: A neighboring community - Cohasset - is located in a different county(??) and is not included in these numbers. Like Scitate, Cohasset is also showing steady sales. Let's look at the numbers with another neighboring town that is NOT doing great - Marshfield:

In order to view the line more clearly, I added 1,000 to Marshfield numbers so the picture is clear...

This last quarter in ‘08 was fairly quiet. The current inventory is pretty low. Much lower than the usual Holiday lull. I am beginning to see more buyers than sellers. Could this mean a demand is looming? THAT hasn't happened in a very long time.

What about home values? Our prices are back to 2004 levels. While that may seem like bad news, you must remember that prices increased by DOUBLE DIGITS for a long time. People seem to be forgetting this. We were never going to be able to sustain those levels. Isn't it GOOD news that the home you bought in the early 90's HAS DOUBLED IN VALUE? And if you bought in the last few years, don't despair. Your home is still the best long-term investment you can make. I don't see the current price deductions occuring daily to be any sign of further devaluation. These are simply homes that, for whatever reason, must sell. No, only a few are short sales. Scituate's short sale/foreclosure rate is much lower than the national average.

Finding it difficult to make your monthly mortgage payment? Be proactive. Get OUT of your ARM now! Contact your lender and work out a reasonable plan. If your lender is not cooperative, you have options. In fact, any lenders not willing to cooperate right now are ridiculous! We are fortunate to have a voice right here in Massachusetts - Rep. Barney Frank. He would probably love to know about your uncooperative lender ;)

Need a financial plan for 2009? Hurry and download Suze Orman's Action Plan for 2009 by January 15th for free! Go to Oprah.com. A lot of us have lost money due to the stock market. We need to rebuild our portfolios and be smarter about investing. Do your homework now so that you can be prepared for upcoming changes in your life i.e. college, retirement, caretaker, etc....

The next few weeks will be anxious - January is a good gauge for the coming year. Most divorce proceedings (sadly) begin this month. And folks who have entertained over the Holidays realize that their homes are too big or too small and begin the process of looking for another home that better suits their needs. Sons/daughters seem to be settling into college life and the parents start the mournful (or jubilant!) empty nest process. The snow birds who are getting ready to depart for Florida come to the realization that they really don't want to ever come back....

So, let's see what this new year brings. I remain positive. And the calls from sellers is rising this week already...

MAKE it a Happy 2009!

The Best (sort of) Scituate, MA

Part 1

There were two recent events that led me to write this particular blog...

The first was the release of a local magazine's BEST OF list for the South Shore. The other, a family vacation to historic Williamsburg, VA.

The magazine's list covered many different categories. For some categories, there were two picks - one, the "Editor's Choice" and the other from reader submissions. I found that I did not always agree with these picks, however, it got me to thinking about MY personal favorites...

The trip to Williamsburg was great and our family really had a terrific time. There were times during the week, however, where we really wished to have some guidance. Places to eat, things to do, what else should we see, etc... There were plenty of pamphlets to read, hotel concierge to ask, however, we did what most folks do - ask other tourists and most definitely, ask the locals.

To that end, herewith is MY list of the "Best Of Scituate, MA" - totally biased (Note: I have not been paid by any of these vendors, although I would not turn down any offers J):

Fun Shopping Experience: Sylvia's By The Sea in Scituate Harbor on Front Street. I never seem to have nearly enough time to browse. Sylvia takes the time to really make sure she has a vast selection and has a keen eye for the latest/greatest items. I'm usually in too much of a rush looking for the perfect kid's birthday gift, or that special gift for a client, etc... The store is set up perfectly - every two feet, it seems, has something new and/or exciting. Sylvia has recently added an adjoining clothing boutique - I'll have to check it out soon!

Fine Dining Experience: The Barker Tavern remains a local favorite restaurant AND is a popular location for wedding receptions. The restaurant is a fully restored home from the 17^th century and exudes a unique colonial charm. I would suggest making reservations for Friday/Saturday evenings (781 545-6533). Want the ambiance but more informal? Head to Eli's Pub to the left of the main entrance. Tip: Go early and sit at the bar. Same menu as the main dining room, but smaller portions and smaller price. If you are lucky, Kathy will be your bartender! My favorite is the grilled swordfish...

Casual Dining: The locals flock to the Satuit Tavern for some of the best fried clams ever. Don't be surprised if there is a line... My daughter loves the fried shrimp. Not a seafood lover? The menu offers a good variety of alternatives. While I am not a fan of the "Keno" numbers that flash across the T.V. screens in the dining room, the service more than makes up for it. The staff is quite friendly and will be happy to make suggestions.

Breakfast: Let's face it - we love the fact that our town is NOT commercial (no McDonalds or Burger Kings here!), but we actually have TWO Dunkin' Donuts! Still great for coffee and doughnuts/muffins on the go. I've lived here long enough to remember the Chinese restaurant in the harbor called "The Flounder's In" that actually served a Fantastic breakfast on Sunday mornings. Alas, I cannot honestly recommend any that I've found here since if you are seeking a sit-down brunch. I'd be happy to take suggestions, but I think I've tried them all...

Lunch: Circe's Grotto in North Scituate Village is a treasure. From paninis to salads it is fantastic. My favorite is the mixed green salad with gorgonzola. They also offer a delicious chicken salad and a wide variety of "not your typical deli" sandwiches. Homemade soups and freshly baked breads are also specialties....

Beach: Minot - North Scituate. Why? Big rocks and tide pools to explore for the kids. Long stretch of beach for a good walk. Popular spot to meet up with other mothers and while away the hours catching up...

Ice-Cream: Harbor Scoops has become my favorite for it's location. Located inside the new Movie Theatre, it offers air-conditioning for the too hot days, and a small outside terrace to enjoy your ice-cream overlooking the sights/sounds of the busy Harbor on the not so hot days. Since I'm perpetually on a diet, I ease my guilt with the mint chocolate chip frozen yogurt....

Jewelry: I am the type of woman who enjoys anything "different" when it comes to jewelry. I don't WANT what everyone else is wearing and I'm not afraid to add a little "whimsy" now and again. Sand Dollar Designs by Susan Ohrenberger McCowan is the best at creating that absolutely one-of-a-kind item. Not just another "bead" lady, Sue is extremely creative and has a unique flair for crafting pieces that become exclusively yours. She also offers great ideas for personalized gifts for Mother's Day, Brides/Maids, First Communion, Graduation, any special event. I cherish my Mother's Bracelet featuring the months of not only my kids, but also my husband and our anniversary. Sue worked with me and made suggestions on how to incorporate all the various colors - absolute perfection...

Fido's Best Friend: Everyone loves their pets and wants to know that they will be taken very good care of when they are away. Martha of Pawsitively Purrfect Pet Care not only does that, she genuinely really likes animals and it shows. A kennel cannot even comes close to the level of care she provides - she has even been called upon to give dogs/cats their daily injections/medicine. I have heard that most dogs get angry when their "people" go away and show it upon their return. Not our dog - Scooter absolutely adores Martha! 781 545-PAWS.

The Lawn is Always Greener...: With the move toward a more eco-conscious world, it makes sense for all of us to consider the earth when landscaping.... Global Green Landscape has been making our world a little greener for over 15 years. They have been "going organic" long before it became popular. Skip and the crew offer the BEST in service. His wife, Karen, launched her own business to show off your fantastic landscaping with Firefly Landscape Lighting several years ago. This "low voltage" system provides safety, security and excellent curb appeal.....

Part 2 -coming soon! Many more categories to think about - still time to let me know if there are any I should consider....