The Clinton Homes For Sale Market Report

OK, here's the Clinton Historical Chart:

I guess we can call the town of Clinton "stability central". There's no real trend here that I can see, other than transaction volume (the number of successful home sales), seems to be on the way up. Prices and demand really haven't moved much in Clinton. Even the lender impacted inventory - short sales and foreclosures - is down a little, but not as much as we've seen in some other towns. Clinton is actually seeing short-sales go up and foreclosures go down, which is not what we're seeing in most of the other towns, but the amount of data is really small, so I'm not sure it means too much. Clinton is a very balance market that favors neither buyers or sellers, so buyers can probably get good prices on property that needs work or has other flaws, and sellers can probably get good prices for homes in good condition and locations.

Clinton Real Estate For Sale and Sold Market Statistics - Raw MLS Data

• There are 69 homes listed as For Sale.
• There have been 59 houses sold in the last 6 months, and 41 homes sold in the last 3 months.
• There was an Average Market Time of 152 days for just SOLD homes.
• There is an Average Market Time of 127 days of the homes For Sale.
• The Dollars paid per Square Foot in Clinton is $119 (vs. $119 )
• There was an Average Sold Price of $210,554 for sold homes.
• Clinton has 4 properties (vs. 3) advertised as lender owned/foreclosure (typically foreclosure) .
• Clinton has 5 properties (vs. 8) advertised as a shortsale is going to be needed by lender .
• Clinton “Hot Seller Index” (HSI): 79 Last Report: 72

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

Read my Explanation for Massachusetts Home Data Reports.

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?
• What do I need to know about Heat Pumps? Will they save me money?
• Will Solar Panels add Value to my Home and build Equity?
• Should I get Flood Insurance even if I’m not in a Flood Zone?
• What is the Case-Schiller Index?
• Should I buy a home with electric heat? How much will my heating bill be with electric heat?

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 Charlton, MA Homes For Sale Market Report

OK, Here's our historical chart for Charlton:

Lots of cool stuff to talk about in this report. At first glance, one might look at the HSI and say, "Things are getting worse in Charlton!" But I don't think that's what's going on. Take a look at the $/sq foot. It jumped from $111 (a low since we've been tracking it) to $131. That's a massive jump, since we normally see changes under $5 from report to report, and rarely moves larger than $10. Well if prices go up, demand may soften, and that's what we're seeing with the HSI. Also with inventory so high (93 homes) that's going to put pressure on prices, so expect them to soften going forward.

One of the things I found really interesting was that since February 2011, the days on market for active properties has declined steadily: 209, 185, 170, 153, and finally 151 in this report. That shows that more and more buyers in Charlton are not waiting around for the house they want - if they like it, they buy it. It's not a buyer "frenzy", but a changing of the average sentiment out there, where more and more buyers are purchasing property. Notice also that the number of sales has picked up steadily over that time frame, moving from the low 40's to the low 50's. That's a 20% increase in transaction volume, and while not enough to eat up the excess inventory in Charlton, a good sign that we're headed to a more normal real estate market in this area.

Charlton, MA Real Estate For Sale and Sold Market Statistics - Raw MLS Data

• There are 93 homes listed as For Sale.
• There have been 52 houses sold in the last 6 months, and 33 homes sold in the last 3 months.
• There was an Average Market Time of 169 days for just SOLD homes.
• There is an Average Market Time of 151 days of the homes For Sale.
• The Dollars paid per Square Foot in Charlton, MA is $131 (vs. $111)
• There was an Average Sold Price of $233,872 for sold homes.
• Charlton, MA has 5 properties (vs. 5) advertised as lender owned/foreclosure (typically foreclosure) .
• Charlton, MA has 5 properties advertised (vs. 8) as a shortsale is going to be needed by lender .
• Charlton, MA “Hot Seller Index” (HSI): 66 Last Report: 71

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

Read my Explanation for Massachusetts Home Data Reports.

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?
• What do I need to know about Heat Pumps? Will they save me money?
• Will Solar Panels add Value to my Home and build Equity?
• Should I get Flood Insurance even if I’m not in a Flood Zone?
• What is the Case-Schiller Index?
• Should I buy a home with electric heat? How much will my heating bill be with electric heat?

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.

First half not a total Disaster

I had hoped to write an All-star Break post earlier this week. Frankly, I didn't have the heart for it. Getting the snot beat out of us by the Yankees (and that's what it was folks, a beat down by a division leader against an also-ran), left we with a few thoughts.

1) The Yankees are way, way, better than the Sox right now.

2) Who are these guys?

3) We aren't winning the division.

When I review my "optimistic" division standings from the beginning of the year, the only thing it looks like I got right was that the win totals in the division coming down. The division is brutal. And when you get down to it, the Sox can't beat their rivals. They can't beat the Rays, the Yanks, or the Birds. They have posted a division worse 14-19 against the east, with no more games against the NL to fatten up their win totals. They are 9.5 games back, and I just don't see how they climb to the top spot from here - even with remarkable health and production - against these clubs.

Wildcard Offers Little Solace this Year

And I don't want to hear about the Wildcard. With a one game playoff, you've got about 50% chance of going to the playoffs from that point. It's really not even worth getting your hopes up about anything until you get past that one game, because in today's MLB, anyone can beat anyone in one game. With this game right at the end of the season, it could be a Franklin Morales vs. Justin Verlander game. Or Clay Mortensen. Or anybody against a burned out bullpen (on either side). That game is simply a toss up.

How does the Pitching Get Better?

It seems pretty well decided that the Sox's issues lie mostly with the starting pitching. It's hard to see how that's not the case, with no starters ERA really impressing anyone at this juncture. The Sox seem to be playing every game from behind. We are still left with Why, and I keep looking to the same questions that we had in April: 1) Is it the loss of Tek? 2) Have other teams brought better, younger arms to their clubs while ours have slipped? 3) Is the preparation not there? 4) Are they just not in shape the way they need to be to compete?

We'll only know what the issue is when it gets fixed. It sure doesn't look fixed to me though, and I have very little hope that we're looking at a statistical anomaly that will right itself in the second half. I think we're going to see more of the same.

Are the Red Sox playing for Next Year?

although I did here some of the fellows pointing out that the Sox offense has largely been front runners - they pound pitchers having a bad night, but the day-to-day production has been sorely lacking. What that means to me is that they have a line-up full of holes - guys that can be gotten out when they need to be gotten out - by many major league pitchers. They aren't able to wear out pitchers the way we're used to seeing, and it's showing up in the box score. There is some hope that this will get fixed, that Gonzales will heat up, that Ellsbury will contribute, that Pedroia will get healthy, that Middlebrooks will return and keep thumping. But it just seems that everytime they get a body back, they lose another one (or two). I'm not sure why these guys can't stay on the field, but they just can't - and until we get SOME level of continuity, I feel like we're just having extended trading auditions for some of the minor league prospects.

The Boylston , MA Homes For Sale Market Report

OK, When I look at the last five reports for Boylston, you see an interesting trend. In each report, the trendline for Days on Market for Sold properties shrinks - from a high of 238 to today's 160. That's points to a healthier market, and that's being demonstrated by rising $/sq foot prices, from an initial low of $138 to $156. So sellers are asking more and waiting less. I think Boylston is going to be representative of what we will see as we look through the trending in other towns, so we'll see if that's the case. Some of the towns in Middlesex county may bounce around a bit more, as their mortgage numbers are different (you can borrow more in Middlesex at lower rates for certain types of government loans), but overall we see a steady market in Boylston, that has used price gains to offset buyer demand. Said another way, rising prices have kept the supply and demand curves in balance, leading to less increases in the HSI, as shown below.

We also see a decrease in bank impacted inventory in Boylston, but it's such a small town we won't read too much into it.

Boylston , MA Real Estate For Sale and Sold Market Statistics - Raw MLS Data

• There are 27 homes listed as For Sale.
• There have been 22 houses sold in the last 6 months, and 14 homes sold in the last 3 months.
• There was an Average Market Time of 160 days for just SOLD homes.
• There is an Average Market Time of 203 days of the homes For Sale.
• The Dollars paid per Square Foot in Boylston , MA is $156 (vs. $140 )
• There was an Average Sold Price of $477,197 for sold homes.
• Boylston , MA has 0 properties (vs. 0) advertised as lender owned/foreclosure (typically foreclosure) .
• Boylston , MA has 2 properties (vs. 3) advertised as a shortsale is going to be needed by lender .
• Boylston , MA “Hot Seller Index” (HSI): 71 Last Report: 72

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

Read my Explanation for Massachusetts Home Data Reports.

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?
• What do I need to know about Heat Pumps? Will they save me money?
• Will Solar Panels add Value to my Home and build Equity?
• Should I get Flood Insurance even if I’m not in a Flood Zone?
• What is the Case-Schiller Index?
• Should I buy a home with electric heat? How much will my heating bill be with electric heat?

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 Ashland, MA Homes For Sale Market Report

This cycle of reports will have a new feature, the historical trend mapping, such as the one below. The most important line is the HSI trend line, as it shows the supply/demand curve in the market. I've figured out a way for these reports to be interactive, which means they'll be updated each time I do a new report. (Cool, huh?)

What we see is a continuing strong market for Ashland, but when I looked at the historical data, I see an interesting trend. Despite the strong demand for a year, average sale prices are down (25%) and even $/sq foot prices are down in Ashland over the last year. What gives? Well, average sale prices aren't a good indication of anything (only slightly worse than median sales prices, as noted in several of my posts). But it is surprising that $/sq foot is also down. Granted, it's not by much, just 4.5%, but that's more than I think it should be, based on the latest activity. My theory? With just the June closings in the books, we don't have enough recent sales to counteract the lower numbers (and good buys) that people negotiated at the beginning of the year/ last fall. So the next report should reflect rising numbers. We'll see if that's what happens.

Overall, the demand numbers in Ashland have been super strong - as shown by the HSI again over 100. That's a red hot market, and sellers with strong properties have had plenty of activity and offers. Buyers have seen the good ones go fast, but the market has moderated a bit of late, as is typical in the summer. Also note a big drop in foreclosures and short sales - from 11 properties down to 6 - which will be an interesting trend to watch to see if it continues throughout metrowest.

Ashland, MA Real Estate For Sale and Sold Market Statistics - Raw MLS Data

• There are 57 homes listed as For Sale.
• There have been 86 houses sold in the last 6 months, and 57 homes sold in the last 3 months.
• There was an Average Market Time of 109 days for just SOLD homes.
• There is an Average Market Time of 162 days of the homes For Sale.
• The Dollars paid per Square Foot in Ashland, MA is $167 (vs. $175)
• There was an Average Sold Price of $ 314,954 for sold homes.
• Ashland, MA has 2 properties (vs. 5) advertised as lender owned/foreclosure (typically foreclosure) .
• Ashland, MA has 4 properties (vs. 6) advertised as a shortsale is going to be needed by lender .
• Ashland, MA “Hot Seller Index” (HSI): 103 Last Report: 88

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

Read my Explanation for Massachusetts Home Data Reports.

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?
• What do I need to know about Heat Pumps? Will they save me money?
• Will Solar Panels add Value to my Home and build Equity?
• Is it a bad idea to buy a house near power lines? Is it safe to buy a house near high tension powerlines?
• What is the Case-Schiller Index?
• Should I buy a home with electric heat? How much will my heating bill be with electric heat?

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.

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Bye, Youk

I hate seeing cornerstone guys from the World Series wins of the Sox move on. Schilling, Varitek, Damon, Wakefield, Pedro, and yes, even Manny being Manny.

Add Youkilis to the list. We'll still get to see him, now that he's in the AL central, which will be nice. Except I think he's got plenty in the tank, and the White Sox are going to be wondering why they just didn't do this about a month ago.

I often felt that Youkilis was overlooked even by Red Sox fans. He was often in someone's shadow, be it Ortiz or Manny, but his usefulness to play both corners and have a .900+ OPS made him perhaps the single most important player on the Red Sox for most of the last 10 years. Hyperbole? Maybe. But I know this: I dreaded the stretches when Youkilis was on the DL. The lineup really wasn't the same. He was a hitter who hit for average, on base, and power, and seemed was very difficult to replace when he was out. There's a long list of sub-standard bats that filled in for Youkilis at either first or third. There was no one who even got hot enough where you ever said, well I hope Youk takes his time coming back - the Sox will be fine.

Until Middlebrooks.

Middlebrooks Impresses

If I was a ballplayer and I got replace by a younger player, I think I would want it to be someone like Will Middlebrooks. I actually saw him play in Pawtucket before he got called up this year. I went down excited to see Lavarnway - and instead watched Middlebrooks spray the ball all over the field (and off of it). He was so hot, it was a given he'd get called up. And when he started hitting, it was impressive. First, because he was so hot. But the POWER. There were no cheap hits for this guy.

But I've seen lots of prospects get called up. Pedroia, who started cold. Jacoby, who started hot. They all go through some rough patches. I was excited - but I figured with the way he was pounding the ball, pitchers would soon find his weakness and start to exploit it. So I waited for him to come back to earth. To struggle with off speed pitches. To slump. They all do. That's what rookies do. Sooner or later, they can't get out of their own way. Pitchers find holes. Rookies can't make adjustments. Slumps start. Rookie panics, either doesn't change or changes too much. Slump gets deeper. Rookie learns.

Except, that's not happening. It's still early - he has only 140 AB's - but it's been long enough for there to be plenty of tape on this guy. Opposing pitchers should start making him look more human. And it's not happening. I supposed they have reasons for throwing the rookie a strike. But they are going to stop soon giving him good pitches to hit. Make no mistake, if he doesn't get those strikeouts down, and his walks up, he'll likely be a talented and very useful part of the Red Sox team. But if he does control the strike zone better as he gets older, and continues to improve....

Really, there's no limit here. He could be as good as Ortiz, Youkilis, Manny. I mean, we're talking freakishly good. I'm no professional scout, but I can't remember a Red Sox farmhand with his power since Mo Vaughn. You combine that with the fact that two years ago he was INVISIBLE. That's right, in 2010 he was a nothing in Single A ball with a ho-hum .439 slugging and over 120 K's in a 141 games. Even last year he was striking out once a game in double A. And now he's in the show, and his slugging at .583 is second only to - Ortiz.

You can hear the collective breath being held when Middlebrooks is at the plate. you can sense it. He could be - special. Not an everyday player. Not an All-Star. Special. He's got that vibe. And the fans know it. He's not just hitting, he's hitting timely shots, keeping him near the top in RBI's per plate appearance on the team. The end result? The Sox are 18-1 when Will has an RBI.

That last stat of course, can't continue.  His hitting can't continue.  Something has to give, because if he keeps averaging an RBI a game, and they win almost all the games where he has an RBI.....

It can't happen.  Can it?

Do I have to buy Title Insurance for my Home?

I get this question very often. While some buyers are familiar with Title Insurance, many are not, and the subject rarely comes up until near the closing. Here's some things everyone should know about Title insurance.

What is Title Insurance?

Title Insurance is insurance that the title to your home is free of issues or encumbrances. Since the Title gives you the right to own and sell your home, having a clean Title is very, very important. Although most buyers pay the bank to 'examine' the title and make sure it is clean for just this reason, not all examinations catch everything at time of purchase, and there are things that can happen after you purchase a home, that can leave defects or clouds on the title. Most Title Insurance covers these things. Title Insurance is NOT Insurance on the home itself, so it does NOT cover things like falling tree limbs, theft, and fire.

Will Title Insurance cover me from Every Issue that might affect my Title?

No, like all insurance products, there are limitations as to what is covered and what is not covered. These are good discussions to have with the person who is selling you Title Insurance. 

Who Sells Title Insurance?

In Massachusetts, only attorneys can sell Title Insurance. You can not buy Title Insurance from an Insurance company in most cases, despite the name. Many real estate attorneys will sell you your policies when you close on the property. They don't do it for free, just like everyone else who sells something as part of their job (myself included!). It is important to understand that the person selling you Title Insurance is compensated when you purchase it.

What do I need to Purchase for Title Insurance

Although every situation is different, and you should consult an attorney to determine your coverage needs, most people have mortgages and must purchase Title insurance to protect the bank. (Banks universally think Title insurance is a good idea and worth the cost). This is general called Lender's Title Insurance.  In addition to the bank's policy, most homeowners purchase an OWNER's Policy as well.

How Does the Bank's Title Insurance usually Work when I Purchase it?

The Bank's Title Insurance is a policy that the BUYER purchases on the BANK's behalf, and only the BANK can file a claim under this policy. Banks typically require full coverage on the amount that you have mortgaged, not the amount you paid.

How Does the Owner's Title Insurance usually Work when I Purchase it?

The owner's policy is more straight forward - it protects you and your financial interests in the property. Since owner's policies typically cover the mortgage amount AND your equity in the home (added together this is the full purchase price) they are often more expensive than the bank's policies.

What are the things Homeowners Title Insurance can cover?

Here is a good overview given by a Massachusetts Attorney

Do I Need Owners Title Insurance?

Each situation is different, and the state of Massachusetts has determine that advice about whether you need/don't need Title Insurance should come from an attorney. I am not an attorney, and since I desire to stay out of trouble, I won't be answer that question here. Having said that, different properties have different risk factors, and the amount of personal equity relative to your total net worth is also part of the equation that is worth discussing with an attorney. Factors worth discussing may included whether your development or HOA is complete, as new construction carries certain additional Title Risks, whether your property is going/gone through probate, or foreclosure, and how many times it has been bought and sold are all factors.

How much is Homeowners Title Insurance and How is it Priced?

Homeowners insurance costs depend on who is selling it, but it is often priced in terms of $/thousand, and is in the high $3s. That means a $300,000 mortgage could cost 300*$3.65 or $1095. The policy is as good for as long as you own the home, and never needs to be renewed. However, if you refinance, even with the same bank, you will have to purchase lender's title insurance again.

Is Title Insurance Expensive?

Personally, I don't like the way Title Insurance is packaged and priced. I think Title insurance was a VERY good deal back in the day when people bought a home and stayed put for 25 years, and never refinanced. But those days are long gone, so I think the business model needs to change with the times. Regardless, change is hard, and there seems little impetus to change the status quo. Like most insurance products, we all wish we didn't have to pay them, or pay as much for them, and since most of us don't file (significant) claims, it can feel like a waste. But all insurance feels like that (People who don't get into car accidents probably don't like spending $1000/year insuring their car). It's worth remembering though that insurance is designed to have everyone pay something so that large scale incidents/claims don't impact certain individuals. If you find yourself in a situation where your title to your most expensive asset has a big problem, you will thank your lucky stars you bought title insurance. Just as you would if a tree falls on your car and you are insured for it. Are the chances high that you will file a significant claim? No, and thank goodness they are not - or Title insurance would be much more expensive.

I only have to buy one Title Insurance policy - it's good forever right?

Yes - and no. It's good until you refinance. Once you re-finance, you often will have to buy it again, if you wish to remain covered.

This property has great privacy and is a very young home with a nice feature set. Open floor plan, two car garage, nice master suite. A great price for Southborough!

See more here

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Matt

What is a Conventional Loan

A conventional loan is any loan that isn't owned or insured by the government. That's just about all of them, although some of the Non-conventional loans, such as FHA or VA, are very popular products that service a lot of people. FHA loans (Federal Housing Authority) are loans that are insured by the government, whereas VA (Veterans Administration) loans are offered by the government. This is the primary reason why FHA and VA loans have different appraisal concerns than conventional loans, and not all properties qualify for these loan programs.

A conventional loan can be a traditional 30 year fixed, an ARM (Adjustable Rate Mortgage), it can be a 90% down loan or a 10% down loan and just about anything in between. Ultimately, as long as they aren't backed by the government in some way, they are a conventional loan. (See more at: Should I get a ARM or a Fixed Rate Mortgage?

Don't confuse 'Conforming' with 'Conventional'

Another part of the mortgage lexicon is the term Conforming loan. A conforming loan is a loan that "conforms" to either the guidelines of the GSE (Government Sponsored Entities), which are known as Fannie and Freddie, or Fannie Mae and Freddie Mac. While technically not part of the government, they operate in a world between Government and Private Enterprise, as they are not really considered to be private companies. Most home buyers don't need to worry about that, but the key takeaway here is that the GSE help to "securitize" many loans. If a loan is going to be sold to a GSE, it must 'conform' to those guidelines, and thus be a conforming loan. Although loans can be securitized in other ways to other groups that hold mortgages, the GSE's are by far the most common. This is important because most lenders are vastly more interested in selling your loan to a GSE than keeping it on their books, so most banks will offer only conforming mortgages to regular retail customers.

Should I get a Conventional, Non-conventional, or Conforming Loan?

Finding the right mortgage loan product for your needs requires a little education on your part and an understanding of your needs. These different products exist because different people have different needs.

Some of the government loans (non-conventional) are really useful for people with limited down payments but good cash flow. Those with good credit and down payments may often find that conforming, non-conventional loans will offer them the best terms of financing. Without a complete understanding of your financial resources, cash-flow, credit, and goals, there is no single answer.