Ciara Brennan

25 Single Family Homes were sold in Quincy in Feb 2012. 2 of the homes that sold were bank owned properties and 3 of the homes sold were sold as short sales.

· 2 homes were under $200k.

· 8 homes sold were in the $200-$300k price range.

· 9 homes sold were in the $300k-$400k price range.

· 4 homes sold were in the $400k-$500k price range.

· 2 homes sold were in the $500k+ price range.

The average listing price of the homes sold was $341,217 and the average sold price was $323,320. This means that on average, homes are selling for 95% of the list price.

The homes that were sold were on the market for approximately 142 days.

There were 154 Quincy MA homes for sale in February 2012. Of these homes, 14 were listed as short sales and 5 were bank owned properties.

The current absorption rate for single family homes in Quincy MA is 7.5 months. An absorption rate higher than 6 months is considered a buyers’ market.

If you are thinking about buying or selling in Quincy, MA, please give me a call on 781 929 3683 or send me an email on ciarabrennan7@yahoo.com

Easily search the MLS at http://ciarasmls.com

The current absorption rate of the real estate market in Quincy, MA for single family homes is 31.8.

This figures means that it would take approximately 32 weeks, or close to 9 months, to sell all of the inventory that is currently on the market at the rate of sale that is currently occuring.

This figure means that it is currently a buyers market.

Here is a breakdown of what you can expect with certain absorption rates:

• 1-4 months – Sellers Market. More buyers than sellers, with properties often selling quickly for more than asking price.

• 5-6 months – Normal Market. Similar number of both buyers and sellers. Properties sell for, or close to asking price.

• 7+ months - Buyers Market. More sellers than buyers, with homes taking longer to sell, and often selling for much less than asking price, if at all.

What does this mean for homeowners who want to sell their home in this market?

It means that sellers have to list their home with an agent who is going to agressively market their property.

It means that sellers have to price their home agressively to get it to sell.

It means that sellers have to make their home easy to show.

It means that sellers have to adequately prepare their home before it starts being shown. This means decluttering, cleaning, possibly staging and making minor repairs.

If you are a seller and you want to sell you home, do not be discouraged. Homes are being sold, you just have to make sure that you do it right. To start, you should list with the right agent.

If you would like to sell your home, please give me a call on 781 929 3683.

Here is an analysis of the activty of the real estate market in Quincy MA for January 2012. This report is regarding single family homes.

In January of 2012, there were 140 single family homes for sale in Quincy,MA.

23 homes went under agreement.

19 single family homes closed in Quincy in January 2012

The average listing price of these homes was $330,316. The average price per square feet that these homes were listed at was $195.

The average sales price of these homes was $308,579. The average price per square foot that these homes sold for was $182.

That means that the average single family home sold for 93.4% of it's list price.

The average days on the market for these home that sold was 127.74

In January of 2012, 4 new single family homes were placed on the market for sale.

7 homes that were listed for sale expired in January of 2012. The average price per square foot of the listings that expired was $248 and the average number of days that these homes were on the market was 172.43.

If you are thinking about buying or selling a home in Quincy please give me a call on 781 929 3683.

Check out homes that are available for sale in Quincy on my website: Quincy Real Estate

If you are thinking about selling your home in Quincy, MA, please allow me to provide you with a free real estate market analysis.

This market analysis will allow you to determine the value of your home in the current market. It allows you to price your home competitively to make sure that it gets sold.

All you have to do is give me some basic information about your home and I will pull up a list of properties, comparable to your, that are currently on the market, have recently sold and have recently expired. The next step is to analyse all of this data and determine the price that your home will likely sell for if placed on the market. I will then also provide you with additional information such as the average time a property is on the market before it sells and so on.

If you would like your Free Real Estate Market Analysis please give me a call on 781 929 3683

I look forward to hearing from you!

Quincy Real Estate

Many homeowners ask the questions when they decide to sell: "How much does it cost to sell a house?" and oftentimes it comes as a shock the actual amount of money that is due at closing.

Here is a list of the common expenses that a seller will incur at closing:

1. Realtors Fee: The biggest fee that people are aware of is the realtors fee. This fee usually ranges between 4%-8% of the cost of the home. This fee is negotiable and it is typically one that has been decided upon when a seller hires an agent to list and sell their home. Often times homeowners will decide to list their home as a FSBO to avoid these realtors fee.

2. Taxes: Typically a seller will have to pay property taxes and transfer taxes/fees at the closing.

-The property tax is a levy placed on the real property by the government. The homeowner owes these taxes on the proprty up until the title has been transferred. Any outstanding property taxes are due at closing. In the event that the homeowner has prepaid property taxes, they may receive a refund a closing.

-The transfer tax is a tax on title of the property passing from one person to another. This is essentially a transaction fee. In MA this tax is essentially 0.456%. If you are not in MA, here is a helpful link to determine the transfer tax in your state: http://www.taxadmin.org/fta/rate/B-0306.pdf.

3. Fees to Title Company: This typically covers the cost of the title search and the title insurance. The standard cost of title insurance in MA is typically $3.65/$1000.

4. Attorney Fees: Attorneys will typically prepare and record all real estate documents such as the deed. A buyer will always have an attorney but it is definitely a great idea for the seller to also hire an attorney to represent them. The rates of an attorney differ per attorney but you can expect to pay anywhere up to $2000.

5. Pay Off Remaining Mortgage: You will have to pay off your remaining mortgage and get a release. Also bear in mind that they may be a prepayment penalty on your mortgage. If you do have a prepayment penalty then you will have to pay this at closing.

6. Title V Inspection: This inspection is to ensure that septic systems are up to code and that they are safe for people and the environment. The average cost of a Title V inspection is from $400-$550. If your home is served by the public sewer then you do not have to get this inspection. Here is a useful link with more information: http://www.mass.gov/dep/water/wastewater/buysell.htm.

7. Smoke Detector and Carbon Monoxide Detector Certification: This certification is done to ensure that when a home is sold, it is done so with working smoke and carbon monoxide detectors. This certification is usually carried out by your local fire department. The cost of this ranges from $50-$500 depending on the size of the property being sold. The inspections typically costs $50 for a single family home or a condo. Here is a useful link with additional information: http://www.cityofboston.gov/fire/inspections/sdi.asp

Also, depending on the deal that was negotiatied for the sale of your home, you may also be required to pay a portion or all of the buyers closing costs and the cost of some repairs.

If you are thinking about selling your home in Boston or on the South Shore, please feel free to give me a call on 781 929 3683.