Needham, MA

This lovely home is priced well below its market competitors. It boast 4 to 5 bedrooms, 3 1/2 baths, hard wood floors, an amazing master suite with an oversized whirlpool bath and walkin closet, 3rd floor bedroom/ bath suite, walk-out basement, central air, a 2 car garage, a large lot backing up on conservation land. Close to the Charles River, houses of worship, the Dover and Wellesley town lines. Call me at 617-733-8280 to arrange a showing. Bank Of America is providing the financing at a low rate if you qualify. Jim Lowenstern, GRI, LI

Needham, MA Housing Spring Buying Season Starts Early Due to Tax Credit

The spring real estate market typically takes off in March and runs through May. Not this year because the buyers watn to claim this year's tax credit which is up to $8,000 for first-time buyers and up to $6,500 for repear buyers. They must have a signed purchase and sales congtract by April 30. In addition to that they have to complete the deal by June 30, 2010. Sales "are going to take off in February and March and really take off in April. My concern is that the move-up buyer hasn't thought what they need to do. Their window is really short. They have to coordinate closing dates."

-- Jim Gillespie, president & CEO of Coldwell Banker, "Springtime House Hunters out Early Thanks to Tax Credit," by Stephanie Armour, USA Today, Jan. 20, 2010.

I have seen a surge in activity with my clients since December 27th, 2009 in buyers looking and wanted to be in their home before June 30th. There is increased activity in many areas of Massachusetts. The inventory is so low now in Needham and the demand is great. The +inventory is also low in Norwood.

Total Single Family homes on the market in Needham right now is 70 and there were 7 new homes listed from January 11 to January 18 with 7 homes sold includes properties that went under agreement or pending sales.

Inventory low = Buyer's Market ^

Inventory high = Seller's Market ^

Mortgage applications are on the rise too. ^

Applications for mortgages to buy homes were also up, increasing a seasonally adjusted 4.4%. Meanwhile, 30-year fixed-rate mortgages carried an average interest rate of 5% last week, down from 5.13% the week before.

If you are not an organized person or a bit of a procrastinator you might miss the rush. Times they are achangin".

Massachusetts Residential Incentives

Incentives/Policies for Renewables and Efficiency

DSIR Database of State Incentives for Renwables & Efficiency

http://www.dsireusa.org/incentives/homeowner.cfm?state=MA&re=1&ee=1

I have listed above the link to Homeowner Incentives for Renewables and Efficiency. If you are considering some energy saving initiatives in your home this site will help you find what is available in rebates and fnancial incentives for these projects.

Just to name a few: There are personal Tax Creidts, Property Eax incentives, sales tax exemption, state rebates, utility loan programs.

If you have need of insulation in your attic, let's say here is an option to consider and there are financial incentives to help. I am recommending the following company services Massachusetts, New Hampshire and Rhode Island.

Green Star Foam Insulation

http://amazinginsulation.com/?keyphrase=green+star+foam&lid=398941208&c=398941172&provider=google

Below is the EnergyStar site:

http://www.energystar.gov/index.cfm?c=tax_credits.tx_index

It just makes sense to do some energy efficient projects to our homes and then to get financial incentives on top of that is like frosting on the cake so to speak. I say "Rebates Are Great!"

Needham, MA Market Report One Month

From 12/18/2009 to 1/18/2010

There are 77 properties on the market as  I write thiis

There are 15 properties under agreement from $425,000 to $1,299,000 with an average days on market of 88 days.

The average list price for properties under agreement is $$782,459

Very little coming on the market at this point in all price ranges and as usual the properties that are priced right sell right away. 

                                                                                                                                                      Days on Market   List Price

		UAG	137 Hunnewell Street	Needham, MA	5 room, 2 bed, 2 bath Ranch	43	$425,000
		UAG	16 Hawthorn Ave	Needham, MA	5 room, 2 bed, 1 bath Ranch	1	$449,000
		UAG	983 Webster Street	Needham, MA	8 room, 4 bed, 2 bath Colonial	130	$599,000
		UAG	3 Meadowbrook Rd	Needham, MA	7 room, 3 bed, 1.5 bath Garrison	26	$600,000
		UAG	175 Broad Meadow Rd	Needham, MA	7 room, 3 bed, 1.5 bath Colonial	8	$609,000
		UAG	24 Douglas rd	Needham, MA	9 room, 4 bed, 2 bath Cape	5	$619,000
		UAG	120 Wyoming Avenue	Needham, MA	7 room, 3 bed, 2 bath Cape	2	$629,000
		UAG	147 Thornton Road	Needham, MA	7 room, 3 bed, 1.5 bath Colonial	20	$629,000
		UAG	298 Marked Tree Rd	Needham, MA	8 room, 4 bed, 3 bath Colonial	102	$679,888
		UAG	40 Pond Street	Needham, MA	7 room, 4 bed, 3 bath Colonial	25	$775,000
		UAG	74 Meadowbrook Road	Needham, MA	12 room, 5 bed, 3 full, 2 half bath Colonial	675	$895,000
		UAG	55 Norwich Rd	Needham, MA	9 room, 4 bed, 2.5 bath Cape	81	$995,000
		UAG	80 Stockdale Road	Needham, MA	9 room, 4 bed, 4.5 bath Colonial	96	$1,249,000
		UAG	135 Harris Ave	Needham, MA	9 room, 4 bed, 3.5 bath Tudor	50	$1,285,000
		UAG	56 Barbara Rd	Needham, MA	9 room, 4 bed, 3.5 bath Colonial	55	$1,299,000

The price range between $600,00 and $850,000 continues to be the most popular.  When those properties come on if they in great shape and priced correctly they will sell immediately. 

Our single family home inventory in Needham, MA is very low and we are in an early spring market from my prespective.  I have been busy since December 27, 2009.  I anticipate that this will continnue for the next several months.

Needham Recently Sold Homes

Needham, MA Market Report

At this point in the Needham, MA real estate single family home inventory we are at a very low inventory. In comparison I have prepared a chart below to compare 1/8/2008, 1/8/2009 and 1/8/2010. Yet at this time last year the inventory was even lower.

Spring market is really just around the corner and hopefully the weather is going to warm up. The average price is increased year over year for this time period.

The high inventory is in the $600,000 to $699,999 with 9 and 27 homes on the market in the $1,000,000 to $1,499,999.

There are 17 condominiums currently on the market between $185,000 and $1,375,000 with average days on market of 114.

There is 1 two-family listing on the market at $489,000.

There are 5 land listings from $440,000 to $998,000.

There are 19 rental listings from $600.00**to $9,000.

With the tax extension I believe that will keep the real estate market moving right along in Needham, MA

There were 273 single family homes sold in 2009 at 96% of asking price and 93% of the original price as an average with an average days on market of 89 days. See breakdown below.

I have experienced an increase in activity personally even just since December 27th, which is a nice way to start the new year off.