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Home Pat Laracy Baker, Realtor, GREEN, ABR Needham/Boston, MA

Pat Laracy Baker, Realtor, GREEN, ABR Needham/Boston, MA

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Wish there was more for the news to report

12-23-08
Pat Laracy Baker, Realtor, GREEN, ABR Needham/Boston, MA

All day long all I heard on several radio channels and tv news channels is that homes sales are down. Then when I go on Yahoo first thing that pops up is how home sales are down. Slowest in a decade. I must say real estate is local and that is a national number.

When there is a slow news day, which I can't imagine that could happen with the news of Illinois governor Governor Blagojevich, Caroline Kennedy becoming senator of New York, and Bernard Madoff's ponzi scheme. Those are enough to report on. I have noticed that real estate gets in the news when it is negative but then that is true of other subjects too. I have noticed that about nutrition too. They only report on something that is not working and never talk of what is. Hmmm. What is with that?

Offers are still being accepted here in Needham and nearby. Just tonight an offer accepted for a home that just came to market. Too bad they seem to need to report the bad real estate news all the time but I guess that is what they call "news."

I still don't think any negativity really helps and it gets into people's mind and that is what they think all over. I just had an accepted offer 2 weeks ago and we will close before the year end. In Needham we have had 14 properties go under agreement with an average price of $783,487. Not bad for December in the slowest market in a decade.

It would be nice if they would take a break on the bad news in real estate. Any one else agree with me.

Pat Baker, Broker Associate | Coldwell Banker Residential Brokerage |1 Chapel St., Needham, MA 02492 | 781.444.7400 | C: 617.435.3471 | E: Pat.Baker@NEMoves.com - www.patannbaker Serving my clients in Needham, Wellesley, Dover, Weston, Natick, South Natick, Sherborn, Dover, Dedham, Holliston, Millis, Medway, Medfield, Westwood

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Natick Market Report for the past 12 months

12-21-08
Pat Laracy Baker, Realtor, GREEN, ABR Needham/Boston, MA

The average single family home price in Natick, MA is up from the year 2006-2007 but there were 71 less homes sold year 2007-2008. The average days on market is essentially the same. The list price to sold price average is 96% which is not too bad. There were far more luxury homes sold in the prior year. The highest price in Natick this past year was $1,282,000 while in the prior the highest sale was $2,275,000 The concentration seems to be between the $300k to $600K single family properties.

I have included a comparison chart for the period of 12/21/2006 to 12/21/2007 and then the period 12/21/2007 to 12/21/2008.

Property Type(s): SF
Status: SLD
Start Date: 12/21/2006
End Date: 12/21/2007
Towns: Natick
Price Range # of
Listings		 Avg. Days
on Market		 Average
Sale Price		 Average
List Price		 SP:LP
Ratio		 Average
Orig Price		 SP:OP
Ratio
$0 - $49,999 0 0 $0 $0 0 $0 0
$50,000 - $99,999 0 0 $0 $0 0 $0 0
$100,000 - $149,999 0 0 $0 $0 0 $0 0
$150,000 - $199,999 1 271 $150,100 $155,000 97 $225,000 67
$200,000 - $249,999 2 112 $240,100 $264,900 91 $264,900 91
$250,000 - $299,999 21 116 $276,045 $294,046 94 $306,046 91
$300,000 - $349,999 38 106 $324,695 $336,545 97 $352,641 93
$350,000 - $399,999 47 76 $375,753 $386,247 97 $399,674 95
$400,000 - $449,999 52 87 $421,563 $434,504 97 $445,993 95
$450,000 - $499,999 17 88 $468,956 $487,306 96 $502,700 94
$500,000 - $599,999 40 117 $551,729 $571,458 97 $585,473 94
$600,000 - $699,999 23 119 $642,891 $658,108 98 $675,934 96
$700,000 - $799,999 17 89 $735,612 $749,642 98 $760,065 97
$800,000 - $899,999 18 81 $835,826 $858,972 97 $864,694 97
$900,000 - $999,999 6 83 $933,917 $960,983 97 $985,317 95
$1,000,000 - $1,499,999 14 128 $1,204,036 $1,257,564 96 $1,269,421 95
$1,500,000 - $1,999,999 4 215 $1,669,125 $1,895,875 88 $2,067,250 83
$2,000,000 - $2,499,999 1 315 $2,275,000 $2,395,000 95 $2,800,000 81
$2,500,000 - $2,999,999 0 0 $0 $0 0 $0 0
$3,000,000 - $3,999,999 0 0 $0 $0 0 $0 0
$4,000,000 - $4,999,999 0 0 $0 $0 0 $0 0
$5,000,000 - $9,999,999 0 0 $0 $0 0 $0 0
$10,000,000 - $99,999,999 0 0 $0 $0 0 $0 0
Total Properties 301 Avg. 101 $538,661 $558,907 97 $575,775 94
Lowest Price: $150,100 Median Price: $435,000
Highest Price: $2,275,000 Average Price: $538,661
Total Market Volume: $162,137,000

Property Type(s): SF
Status: SLD
Start Date: 12/21/2007
End Date: 12/21/2008
Towns: Natick
Price Range # of
Listings		 Avg. Days
on Market		 Average
Sale Price		 Average
List Price		 SP:LP
Ratio		 Average
Orig Price		 SP:OP
Ratio
$0 - $49,999 0 0 $0 $0 0 $0 0
$50,000 - $99,999 0 0 $0 $0 0 $0 0
$100,000 - $149,999 2 209 $127,500 $132,750 96 $132,750 96
$150,000 - $199,999 4 104 $163,225 $166,200 100 $209,950 82
$200,000 - $249,999 7 187 $229,271 $260,957 89 $278,229 83
$250,000 - $299,999 20 101 $280,205 $292,260 96 $313,255 90
$300,000 - $349,999 41 89 $320,006 $332,790 96 $344,578 93
$350,000 - $399,999 32 111 $368,325 $383,869 96 $395,291 93
$400,000 - $449,999 34 94 $424,050 $440,941 96 $453,804 94
$450,000 - $499,999 25 85 $471,432 $498,592 95 $508,316 93
$500,000 - $599,999 20 93 $528,660 $547,751 97 $569,096 93
$600,000 - $699,999 13 127 $644,038 $668,569 96 $674,885 96
$700,000 - $799,999 10 71 $763,050 $787,980 97 $797,980 96
$800,000 - $899,999 11 158 $855,436 $889,955 96 $929,055 93
$900,000 - $999,999 7 111 $951,047 $973,286 98 $1,005,286 95
$1,000,000 - $1,499,999 6 148 $1,126,812 $1,173,150 96 $1,251,317 91
$1,500,000 - $1,999,999 0 0 $0 $0 0 $0 0
$2,000,000 - $2,499,999 0 0 $0 $0 0 $0 0
$2,500,000 - $2,999,999 0 0 $0 $0 0 $0 0
$3,000,000 - $3,999,999 0 0 $0 $0 0 $0 0
$4,000,000 - $4,999,999 0 0 $0 $0 0 $0 0
$5,000,000 - $9,999,999 0 0 $0 $0 0 $0 0
$10,000,000 - $99,999,999 0 0 $0 $0 0 $0 0
Total Properties 232 Avg. 105 $468,238 $487,736 96 $504,879 93
Lowest Price: $120,000 Median Price: $420,000
Highest Price: $1,282,500 Average Price: $468,238
Total Market Volume: $108,631,251

Natick has much to offer with the commuter rail, the fabulous shopping at the Natick Collections. Parent reviews of the schools have been great. From personal experience we can't say enough good things about Metro West Hospital in Natick too. Our son received wonderful care there during a long recovery. He is doing great now. We are very grateful for the care he got there.

Natick is a neighboring town of Needham and Wellesley but certainly more affordable. A very pretty community with a wonderful history and lots of historical sites.

I thought I would share this a recent article from the Greater Boston Association of Realtors.*"According to the National Association of REALTORS® (NAR), pending home sales eased in October but remain in the stable range.

The Pending Home Sales Index, a forward-looking indicator based on contracts signed in October, slipped 0.7 percent to 88.9 from an upwardly revised reading of 89.5 in September, and is 1.0 percent below October 2007 when it was 89.8.

In the Northeast the index rose 0.6 percent to 68.1 but is 14.1 percent below October 2007.

"Despite the turmoil in the economy, the overall level of pending home sales has been remarkably stable over the past year, holding in a generally narrow range," said Lawrence Yun, NAR chief economist. "We did see a spike in August when mortgage conditions temporarily improved, which underscores two things - there is a pent-up demand, and access to safe, affordable mortgages will bring more buyers into the market."

Pat Baker, Broker Associate | Coldwell Banker Residential Brokerage |1 Chapel St., Needham, MA 02492 | 781.444.7400 | C: 617.435.3471 | E: Pat.Baker@NEMoves.com - www.patannbaker.com Serving my clients in Needham, Wellesley, Weston, Dover, Natick, South Natick, Sherborn, Dover, Dedham, Holliston, Millis, Medway, Medfield, Westwood.

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Needham Market Where have all the listings gone?

12-09-08
Pat Laracy Baker, Realtor, GREEN, ABR Needham/Boston, MA

The inventory in Needham is a low as 76 homes on the market between $329,000 and the highest price is $3,500,000. The average list price is $1,000,548. Last month 11/9/08 the inventory was 96. In one month there were 22 homes that went under agreement. Several between and 10 days on the market. Of course some were on a lot longer but there is a trend here.

Homes come on the market and move quickly especially if they are priced right. There were 19 homes that closed during the last month ranging from $350,000 to $1,355,000. Average days on the market was 91. The average selling price was $766,368.

I have found that taking buyers to other nearby communities the homes, like Medway are having multiple offers. I just had that occur twice with recents buyers. The market is changing. This a slow time of year too normally.

Written by: Pat Baker, Real Estate Expert - Needham, MA Coldwell Banker Residential Brokerage. Serving my clients in: Needham, Dover, Wellesley, Weston, Natick, South Natick, Dedham, Westwood, Sherborn, Holliston, Millis, Medway, & Medfield www.patannbaker.com 617-435-3471

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NEEDHAM THRIVES/HOMES ARE SELLING/PEOPLE WANT TO LIVE HERE

11-28-08
Pat Laracy Baker, Realtor, GREEN, ABR Needham/Boston, MA

NEEDHAM THRIVES/HOMES ARE SELLING/PEOPLE WANT TO LIVE HERE. Needham is insulated it would appear. It is proven over and over again by how the homes just keep selling. We have been insulated here. There are 25 properties that have pending sales in the past month. There were 21 homes that closed in the past month from $350,000 to $1,530,000 at 97% of the asking price and original price and that was average. One sold for 106% of original price. There are only 86 single family homes on the market at the present time.

The newest report is that that sales are up 6.6% in Massachusetts over last year compared to sales in October, 2007. With inventory down properties will go up in price. according to the Massachusetts Association of Realtors.

Plus the announcement of the drop in interest rate that is a tangible help to today's buyer. It went down a whole .5% to roughly 5 1/2%.

There are reasons to be optimistic in the real estate market in Needham, Massachusetts today.

Pat Baker, Real Estate Expert - Coldwell Banker Residential Brokerage, Needham, MA - Serving my clients in Needham, Wellesley, Dover, Natick, South Natick, Holliston, Sherborn, Weston, Dedham, Millis, Medfield, Medway, Westwood. www.patannbaker.com 617-435-3471

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Needham Market Report

11-10-08
Pat Laracy Baker, Realtor, GREEN, ABR Needham/Boston, MA

During the last 7 days there were 9 single family homes that went under agreement. I believe that now the elections are over people can make decisions. That is just me talking out loud, but I have seen more activity since November 4th.

There are lots of buyers out there and there are more properties coming on the market.

I have also noticed there is more activity online as well previewing properties there first. There just seems to be an uptick in the activity.

Gerenerally if someone is looking at this time of year they would like to be in their new home before the holidays if possible. First we Thanksgviing and then all the holidays are launched and people have other shopping on their minds besides shopping for homes.

Interest rates are still great. There was a time when they were up to 19%. It is truly amazing the rates we have enjoyed and I sure hope they stay that way.

Pat Baker, Licensed Real Estate Broker/Agent - Coldwell Banker Residential Brokerage, Needham, MA Serving my clients in Needham, Wellesley, Dover, Dedham, Weston, Westwood, Holliston, Sherborn, Natick, South Natick, Medway, Millis, & Medfield. www.patannbaker.com

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