The Natick Homes For Sale Market Report

Records, they say, are made to be broken. The town of Natick has been good for that, and just one day after posting a record HSI (Home Seller Index) in Millis, we see that Natick has surpassed even the loft number of of 140, by hitting 147. With Millis, a small town, it was impressive, but the inventory can change so quickly it wasn't completely a shock. But Natick is another story, and this is a pretty amazing number.

The part I don't get is why prices aren't moving up faster. There's more than enough demand, and I see evidence that prices are moving up, but the numbers don't bear it out, at least not to the amount I would expect. With numbers like this seller's should really be testing the market - there's plenty of time to come down, after all, if the price you reach for doesn't work. Ah, well, a nice problem to have. Home buyers will continue to find Natick a tough market. Things continue to move fast, making it the most challenging community to buy into that I cover.

Natick Houses For Sale and Sold Market Statistics - Raw MLS Data

• There are 77 homes listed as For Sale.
• There have been 226 houses sold in the last 6 months, and 120 homes sold in the last 3 months.
• The Average number of Days on Market was 74 days for just SOLD homes.
• There is an Average Market Time of 97 days of the homes For Sale (currently for sale).
• The Dollars paid per Square Foot in Natick is $235 (vs. $233 )
• There was an Average Sold Price of $515,535 for sold homes.
• Natick has 1 properties advertised as lender owned/foreclosure (typically foreclosure) .
• Natick has 4 properties advertised as a short-sale is going to be needed by lender .
• Natick “Home Seller Index” (HSI):147 Last Report: 135

*All statistics are for Single Family Houses and based on data in MLS.

Our Most Requested Posts

• Read this to take care of your driveways and walkways all year round.
• How do I get the seller to pay my closing costs, and is it free money?
• Do I need to upgrade my home’s steam heat system?
• Should I use a buyer agent to buy a home? How does a buyer agent help me?
• Should I get Flood Insurance even if I’m not in a Flood Zone?
• What is a house with a slab basement?
• Which is better, 2x4 or 2x6 home construction?

About Matt Heisler

Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.

Do Good Things Today! Matt Heisler

*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.

The Millis Homes For Sale Market Report

OK, we have records here for Millis and we have records for the blog. Millis has set a record with my Home Seller Index at 140 - edging out several reports for Natick in the high 130's. I also think that 18 homes on the market is the lowest I've seen for any town (and those two items are related, obviously.)

According to my data, prices in Millis are up over 8% since February of this year - an impressive run.  I'm often talking about how town get HOT and COLD, and back in February I was pushing buyers to check out Millis, and I guess they liked what they saw, because they've been buying everything since.  

Can't see the report? click here.

A run like this though, now means that there's very little left to buy, and we'll see the HSI come down in the next report simple because the pace is not sustainable. We'll have to see if the price jump is sustainable, but with inventory this low, if you were selling your house, would you lower your price? Probably not - and that will likely be the mentality of most sellers.

Millis Houses For Sale and Sold Market Statistics - Raw MLS Data

• There are 18 homes listed as For Sale.
• There have been 59 houses sold in the last 6 months, and 25 homes sold in the last 3 months.
• The Average number of Days on Market was 109 days for just SOLD homes.
• There is an Average Market Time of 148 days of the homes For Sale (currently for sale).
• The Dollars paid per Square Foot in Millis is $180 (vs. $176 )
• There was an Average Sold Price of $354,397 for sold homes.
• Millis has 0 properties advertised as lender owned/foreclosure (typically foreclosure) .
• Millis has 3 properties advertised as a short-sale is going to be needed by lender .
• Millis “Home Seller Index” (HSI):140 Last Report: 119

*All statistics are for Single Family Houses and based on data in MLS.

Our Most Requested Posts

• Read this to take care of your driveways and walkways all year round.
• How do I get the seller to pay my closing costs, and is it free money?
• Do I need to upgrade my home’s steam heat system?
• Should I use a buyer agent to buy a home? How does a buyer agent help me?
• Should I get Flood Insurance even if I’m not in a Flood Zone?
• What is a house with a slab basement?
• Which is better, 2x4 or 2x6 home construction?

About Matt Heisler

Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.

Do Good Things Today! Matt Heisler

*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.

The Milford Homes For Sale Market Report

At first glance, Milford looks pretty much like the last report - but sales have slowed down significantly, meaning we'll likely be looking at cooler numbers by the next report (although the pendings are good). If you look at the last 3 months sales, we've fallen from 92 to 69. Part of that has been to the much quieter fall, and part is just that there aren't enough homes on the market to keep that sales pace going.

Buyers are responding, pushing up prices sharply, and I think it's unlikely we'll see much of a pull back until the inventory picture (the number of homes for sale) starts to increase faster than the buyers willingness to purchase homes, or if prices go up to the point where the market stalls.

Short-sales are way down - showing banks are moving these properties aggressively. Yea.

Milford Houses For Sale and Sold Market Statistics - Raw MLS Data

• There are 82 homes listed as For Sale.
• There have been 142 houses sold in the last 6 months, and 69 homes sold (vs. 92 in the last report) in the last 3 months.
• The Average number of Days on Market was 95 days for just SOLD homes.
• There is an Average Market Time of 132 days of the homes For Sale (currently for sale).
• The Dollars paid per Square Foot in Milford is $144 (vs. $138 )
• There was an Average Sold Price of $26,313 for sold homes.
• Milford has 5 properties (vs. 3) advertised as lender owned/foreclosure (typically foreclosure) .
• Milford has 6 properties (vs. 11) advertised as a short-sale is going to be needed by lender .
• Milford “Home Seller Index” (HSI): 103 Last Report: 108

*All statistics are for Single Family Houses and based on data in MLS.

Our Most Requested Posts

• Read this to take care of your driveways and walkways all year round.
• How do I get the seller to pay my closing costs, and is it free money?
• Do I need to upgrade my home’s steam heat system?
• Should I use a buyer agent to buy a home? How does a buyer agent help me?
• Should I get Flood Insurance even if I’m not in a Flood Zone?
• What is a house with a slab basement?
• Which is better, 2x4 or 2x6 home construction?

About Matt Heisler

Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.

Do Good Things Today! Matt Heisler

*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.

The Medfield Homes For Sale Market Report

Lovely Medfield is the next stop on our housing data journey. A popular - and pricey - destination for Metrowest housing, we'll see how they've done in the chart below.

Can't see the chart? Click Here!

A couple of things here that I do see. First is that the number of homes for sale is down sharply from last year at this time. There really just hasn't been enough coming on to keep the sales moving. So we also see weaker sales at the 3 month mark, as they are sharply less than the late spring months. The fall has been much more subdued, so I expect this is not the last report where we see 3 month sale softness.

Another element that I see which surprises me a little is that prices are firm. Not only have they not gone up, they may have retreated slightly. Either way, they aren't moving much, which is surprising just because most of the other eastern towns have seen stronger price momentum, but we don't see it here in Medfield.

Medfield Houses For Sale and Sold Market Statistics - Raw MLS Data

• There are 55 homes listed as For Sale.
• There have been 99 houses sold in the last 6 months, and 39 homes sold in the last 3 months.
• The Average number of Days on Market was 107 days for just SOLD homes.
• There is an Average Market Time of 164 days of the homes For Sale (currently for sale).
• The Dollars paid per Square Foot in Medfield is $233 (vs. $236 in the last report )
• There was an Average Sold Price of $656,849 for sold homes.
• Medfield has 0 properties (vs. 0) advertised as lender owned/foreclosure (typically foreclosure) .
• Medfield has 2 properties (vs. 3) advertised as a short-sale is going to be needed by lender .
• Medfield “Home Seller Index” (HSI):104 Last Report: 97

*All statistics are for Single Family Houses and based on data in MLS.

Our Most Requested Posts

• Read this to take care of your driveways and walkways all year round.
• How do I get the seller to pay my closing costs, and is it free money?
• Do I need to upgrade my home’s steam heat system?
• Should I use a buyer agent to buy a home? How does a buyer agent help me?
• Should I get Flood Insurance even if I’m not in a Flood Zone?
• What is a house with a slab basement?
• Which is better, 2x4 or 2x6 home construction?

About Matt Heisler

Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.

Do Good Things Today! Matt Heisler

*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.

What we Know about Housing from President Obama's First Term

The President largely stayed in lockstep with the Fed on housing. The Federal Government has several key areas where they are involved in the housing market. Here are some of the most relevant, and what we saw from the first term, and what we might see in the second term..

• Loan Programs for Underwater Homeowners
President Obama pushed 

several programs to allow homeowners to re-finance  

their homes - even if they no longer qualified under standard underwriting guidelines. Most people no longer qualified because declining home prices meant they no longer had enough equity to re-finance in the traditional sense, and the programs were meant to allow them to lower their debt ratios to assist in handling the economic downturn. Originally projected to assist 4 Million homeowners, it's generally acknowledged that only around 1 Million took advantage of the program. These programs were prominently featured early in Obama's administration, but there really hasn't been anything substantial in this area in some time. The housing market is on the upswing, so I expect new programs are probably done at this point, and we won't see any new ones. We may even see contraction here, as these programs get canceled.

• Stewardship of Fannie Mae and Freddy Mac
There really hasn't been much about these two GSE (Gov't Sponsored Entities), but I suspect that we're going to be reading more about them in the coming term. President Obama, along with the Treasury and the Fed, were aggressive in making sure that lending continued in the wake of the financial crisis, at almost any cost. They didn't have a lot of choices, and I'm going to avoid making a value judgement here, but this was an expensive (to the taxpayer) option. These GSE's are still swamped in bad debt, and the loans that they have written are going to be great loans for homeowners - but bad for loan holders. Much has been written that private banks are not funding loans for homeowners, and the reason is simple - they can't make any money to compete with the rates on the government loans. They know that interest rates are going up, and they don't want the loans they are holding to be unprofitable, so they choose not to lend and the government has been forced to pick up the slack. Going forward, the GSE have already started tightening lending standards, in an effort to begin to reduce their risk and their exposure to these ultra-low loans. That should continue, but will raise rates as capital becomes less available, and the number of potential home buyers is reduced.  As far as the systemic risk in the GSE's, how much additional risk/expense these entities will have on their books is beyond my expertise to calculate, and depends on the future interest rates which I can only guess at, but there is trouble here, make no mistake. I'd like to think that some systemic change (break them up into smaller entities, restructure them to be more crisis resilient  add more checks to the system when housing gets overheated, etc).  will be part of his second term, but it certainly wasn't mentioned in the campaign, and I think they will limp along as they are and be the next person's problem.  
• President Obama's Influence on the Fed
The Fed is designed to be relatively independent from the executive branch and congress, and for the most part it has been. Bernanke has certainly been handed a lot of issues and he managed not to wreck the country, and we have survived, if not by very much and not very well. Without Congress actually improving the business environment, he has done what he could, but, as with the GSE's, the piper will need to be paid at some point, and it remains to be seen how expensive that will be. The consensus is that Obama will replace Bernanke, but I find it unlikely that whoever is next could be any more housing friendly than Bernanke has been.  On the optimistic side, an improving economy and struggling Europe could create a healthy economy that dramatically improves tax revenues - while keeping inflation in check - and helps ease the debt, eliminating pressure to raise interest rates to fund the deficit. This is the best case for housing. On the pessimistic side, rising inflation forces the Fed to raise interest rates before the economy gets going, which will both raise the deficit (as interest costs go up) and slow the economy. That will likely lead to pressure to either raise taxes, cut programs or (most likely) both, and there's already great pressure to do so. This type of environment will likely dampen the housing market for years - perhaps longer - as it becomes more difficult for people to pay off the debt they have, and reduces their incentive to move. Worse than 2009? I doubt it - but it won't be remembered as an engine of the economy either.
• Simpson /Bowles Deficit Reduction
The Simpson/Bowles plan includes a provision to 

eliminate the the mortgage interest deduction

, which would raise taxes on anyone who sells their primary residence for a profit. I've written about it's impact at the link above, but it seems clear from Obama's first term that it's unlikely to get touched. President Obama basically threw water on the whole commission, and I think it's unlikely that he'll resurrect it now.

• Overall View of President Obama's second term on the Housing Market
The President has embraced the Fed's goal of keeping a floor under housing, and with that market rebounding he will probably leave things as they are. It's clear that housing needed support to get through the crisis, but it is less clear that the money borrowed will be aggressively paid back if things improve, which could act as a drag on the market for years. No easy choices here for anyone, paying down debt is never fun, but I hope smarter folks than me are thinking about getting ready for the next crisis - so that the house of cards we currently have doesn't come down around our ears (again).

The Marlborough Homes For Sale Market Report

Most people do think the real estate market is the same everywhere, or mostly the same, but it only is at a high level. If you look close - and I do - you see some pretty interesting differences. Yesterday we looked at Hudson, a neighboring town to Marlborough that competes for buyers, and we saw strong numbers, with a even stronger rise in prices. Not so with Marlborough. Here:

OK, well that looks kinda similar, right? I mean, they both have HSI in the low 90's. But they got there very different ways. Marlboroughs "active homes for sale" has been on a steady downward trend from 142 to the current 99. Sales have been pretty steady, but the decline in inventory has been making things better for home sellers. Still though - Marlborough prices have remained steady - at $157/ sq foot, there's no real change from 18 months ago.

But with prices rising in Hudson (and elsewhere) that means Marlborough has been getting relatively cheaper. And that, generally means buyers will discover this relative bargain, and start to push prices up. So if Marlborough is on your home buying radar, now may be a great time to go look - before things get pricey. And if Hudson is on your radar, maybe take a look at Marlborough - you could find what you want there.

Marlborough Houses For Sale and Sold Market Statistics - Raw MLS Data

• There are 99  homes listed as For Sale.
• There have been 139  houses sold in the last 6 months, and 84  homes sold in the last 3 months.
• The Average number of Days on Market was 120 days for just SOLD homes.
• There is an Average Market Time of 153 days of the homes For Sale (currently for sale).
• The Dollars paid per Square Foot in Marlborough MA is $157  (vs. $156 in the last report )
• There was an Average Sold Price of $285,860 for sold homes.
• Marlborough has 9 properties (vs. 3) advertised as lender owned/foreclosure (typically foreclosure) .
• Marlborough has 11 properties (vs. 10) advertised as a short-sale is going to be needed by lender .
• Marlborough “Home Seller Index” (HSI): Last Report:

*All statistics are for Single Family Houses and based on data in MLS.

Our Most Requested Posts

• Read this to take care of your driveways and walkways all year round.
• How do I get the seller to pay my closing costs, and is it free money?
• Do I need to upgrade my home’s steam heat system?
• Should I use a buyer agent to buy a home? How does a buyer agent help me?
• Should I get Flood Insurance even if I’m not in a Flood Zone?
• What is a house with a slab basement?
• Which is better, 2x4 or 2x6 home construction?

About Matt Heisler

Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.

Do Good Things Today! Matt Heisler

*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.

The Hudson, MA Homes For Sale Market Report

On to a look at Hudson! There's a modest bump here in the numbers - pushing the HSI up to 95 - but what really caught my eye was the jump in prices - $167/sq foot where 18 months ago you were looking at $151. That's 9.5% jump in a short period, about 6% a year. I am cherry picking the data a bit - numbers were soft 18 months ago - but still, a solid jump.

The other numbers are all just better for sellers - and tougher for buyers - but not by too much. Just as we've seen in other towns, the number of sales - or transaction volume - has really risen sharply over the past few years, showing people are more able to move than they were previously.

Buyers should take advantage of the slower season to find the right house - and see if the seller will come down a bit.

Sellers are likely to get aggressive with prices in the spring if inventory doesn't start to loosen up a bit. Homes in good condition at the right price are moving quickly, and there are plenty of home sale pendings in Hudson that show that traffic continues to be strong.

Hudson Houses For Sale and Sold Market Statistics - Raw MLS Data

• There are 65 homes listed as For Sale.
• There have been 102 houses sold in the last 6 months, and 57 homes sold in the last 3 months.
• The Average number of Days on Market was 121 days for just SOLD homes.
• There is an Average Market Time of 154 days of the homes For Sale (currently for sale).
• The Dollars paid per Square Foot in Hudson is $167 (vs. $161 in the last report)
• There was an Average Sold Price of $307,204 for sold homes.
• Hudson has 2 properties advertised as lender owned/foreclosure (typically foreclosure) .
• Hudson has 5 properties advertised as a short-sale is going to be needed by lender .
• Hudson “Home Seller Index” (HSI):95 Last Report: 88

*All statistics are for Single Family Houses and based on data in MLS.

Our Most Requested Posts

• Read this to take care of your driveways and walkways all year round.
• How do I get the seller to pay my closing costs, and is it free money?
• Do I need to upgrade my home’s steam heat system?
• Should I use a buyer agent to buy a home? How does a buyer agent help me?
• Should I get Flood Insurance even if I’m not in a Flood Zone?
• What is a house with a slab basement?
• Which is better, 2x4 or 2x6 home construction?

About Matt Heisler

Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.

Do Good Things Today! Matt Heisler

*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.

Recent Powerful Storms like Hurricane Irene and Sandy and How they Rank

Another October, another storm. I was wondering - in the dark, as my power was out again - which storm was the worst? We've had some real bad ones in the past year, so I thought I'd try to look at some local statistics with them, and perhaps some national ones.

Here's how they stack up.

So Which do you think had the greatest impact locally?

Burlington Coat Factory sells more than Coats

I'm not much of a shopper, but my wife is a true bargain hunter, and as such I do get a chance to check out the various retail outlets from time to time. I have to say, that Burlington looks right at home in the old spot where BJ's used to be.

And they do sell more than coats! Personally, it looks like in this tough economy Burlington's discounts are helping them sell more, but the new site is clean, well lit and has plenty of room to check out their wares. It's not too fancy, but I thought some of the kids clothes were pretty good deals.

Here's a map for those who are curious.

View Larger Map

Happy Discount Hunting!

The Hopkinton Homes For Sale Market Report

Hopkinton sure has been tough on buyers. With only one month where my Home Seller Index was under 90 (it hit 88 in May), buyers have had to move fast - or get left with what else is out there.

You see that yellow line down there? The one that keeps going up? It can't go up forever - not while the green line continues to go down at the same time. When yellow is up and green is down, that means price pressures exist in the town. Here on the blog, to keep things simple, I have all that boiled down to the Home Seller Index, where any number above 90 means there is at least some pressure, and numbers at 110 or more mean any sustained activity at that level will push prices up.

Hopkinton is back at the top with a 121 HSI, and we do see evidence that prices are moving up - as it has a new high (since I've been tracking) of $190/sq foot. With minimal bank inventory - and very little for sale - expect prices to stay in this area, and go up next spring, assuming the economy continues to improve and rates stay low, as expected.

Hopkinton Houses For Sale and Sold Market Statistics - Raw MLS Data

• There are 66 homes listed as For Sale.
• There have been 159 houses sold in the last 6 months, and 86 homes sold in the last 3 months.
• The Average number of Days on Market was 100 days for just SOLD homes.
• There is an Average Market Time of 175 days of the homes For Sale.
• The Dollars paid per Square Foot in Hopkinton is $190 (vs. $187 )
• There was an Average Sold Price of $583,422 for sold homes.
• Hopkinton has 0 properties advertised as lender owned/foreclosure (typically foreclosure) .
• Hopkinton has 2 properties advertised as a short-sale is going to be needed by lender .
• Hopkinton “Hot Seller Index” (HSI): 121 Last Report: 110

*All statistics are for Single Family Houses and based on data in MLS.

Our Most Requested Posts

• Read this to take care of your driveways and walkways all year round.
• How do I get the seller to pay my closing costs, and is it free money?
• Do I need to upgrade my home’s steam heat system?
• Should I use a buyer agent to buy a home? How does a buyer agent help me?
• Should I get Flood Insurance even if I’m not in a Flood Zone?
• What is a house with a slab basement?
• Which is better, 2x4 or 2x6 home construction?

About Matt Heisler

Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.

Do Good Things Today! Matt Heisler

*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.