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Oct. 11, 2011

Westborough, MA - Home Sales Statistics (Oct)

 

Analysis of Westborough Housing Market Statistics

 

Westborough had a strong summer, like much of Metrowest. Their seller numbers have almost pushed them into a sellers' market, but we're starting to see some cooling off. But it's hard not to be positive about sellers ability to move their homes in Westborough. With an average of just 90 Days on market for sold properties, buyers are moving quickly on homes they like. Westborough is a good size town, and they only have 90 homes for sale - a number I find to be very low. With so few sellers, the buyers are finding the pickings slim, but if things continue to quiet down, we may see some softness ahead. But not too much, the three month sales number of 63 is still far outpacing the inventory coming on. Look to see buyers chase the best - they are still picky - and hot properties are likely to find multiple suitors.

 

 

 

 

Westborough Housing Market Statistics - Raw Data

 

Fall Market looks Pretty Thin for Buyers

in Westborough

 

  • There are 90 homes listed as For Sale (vs 106 in the last Westborough Home Sales Report).
  • There have been 105 houses sold (vs. 80) in the last 6 months, and 63 homes sold (vs. 58) in the last 3 months.
  • There was an Average Market Time of 90 days (vs. 111) for just SOLD homes.
  • There is an Average Market Time of 160 days of the homes For Sale.
  • There was an Average Sold Price of $477,806 for sold homes.
  • Westborough has 2 properties (vs. 2) advertised as lender owned (typically foreclosure) .
  • Westborough has 9 properties (vs. 6) advertised as short sales required by lender .
  • Westborough “Hot Seller Index”: 91 Last Report: 82

 

*All statistics are for Single Family Homes.

Read my Explanation for Massachusetts Home Data Reports.

Our Most Accessed Posts

Matt Heisler is a real-estate professional and owner of Heisler & Mattson Properties. He has been selling residential real-estate for over 20 years. He has given several talks on real estate, including presentations on first-time buyer tips & tricks, and profiting in real estate investing in Massachusetts. As a Vanderbilt University alumnus, he is proud to serve his local community. *All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.

Posted in Westborough, MA
Oct. 10, 2011

Top 6 Real Estate Myths

I'm often surprised, and occasionally amused, at the conventional myths that many people cling to in Real Estate. How many of the following do you embrace?

 

Myth #1  - Foreclosures are a good deal.

Let's define a good deal.  A good deal is buying a house for under market value.  OK, so what is market value?  I think market value includes two aspects.  Intrinsic value and risk.  Simplistically, you could say this:  Market Value = Intrinsic Value - Risk.  Houses work just like stocks, or any other type of investment, there is often a risk premium.  When the risk premium is low, the price of the house tends to be high, or feel expensive. When the risk is high, the price of the house tends to feel low, or inexpensive.  Foreclosures involve a lot of risk, and that's why the prices they sell at tend to be attractive to relative sales in the area.  That risk is eating into the houses' market value.  If that risk comes home to roost, and it does from time to time, your "good deal" turned into a fair deal and a big headache - or worse. If, however, the risk is managed successfully (or eliminated), you can build equity and make a profit through foreclosure purchases.  

 

Myth #2 - If it's been on the market for a while, there must be something wrong with it.  

 

Generally, this one is totally false.  Usually, what was "wrong" with it is that the seller's had an overinflated idea of what their home would fetch on the open market, and had trouble reconciling reality with the price. A $400K house that's on the market for $500K isn't going to sell for a long time. An easier way to find properties that have problems, is to look for properties that look "too cheap" relative to the overall market.  They will probably have lots of issues. But length of time on market is not a slam dunk to assume that the property has a problem.  After all, most homes that have big issues usually get them fixed sooner or later.  And very, very few of those issues get through a competent inspection.

 

Myth #3 - It's good to have lots of land.

 

This one has really changed today.  There are lots of buyers - and I mean lots of em - that look at an acre of land and see their whole Saturday up in smoke.  Lots of buyers prefer to have small, but functioning lots, that work for their lives.  So, land is not a slam-dunk, and you shouldn't pay "extra" for it.  Although many sellers, who bought the property and were convinced that their large lots would one day bring riches, may ask you to do just that.

 

Myth #4 - Never buy the biggest home in the neighborhood.

 

Why not?  I hear this one all the time, and it always gives me a chuckle.  Let's say you have a neighborhood of new, very similar 600K homes.  Now let's say that the biggest home in the neighborhood was priced at 400K.  Would you buy it? Of course!  So it's not really about whether to buy it, it's about what it's worth.  It is true that if a significantly larger home is in a neighborhood of smaller homes, that home's sale price is likely to be lower than if it was in a neighborhood of similar homes.  But not by as much as you'd think.  And it's certainly no reason to eliminate a nice house, if you happen to find one you like with this situation.

 

Myth #5 - Price per square foot will tell you if you're getting a good deal.

If only it was so easy!!!  Price per square foot is an important metric.  But a better metric is price per USABLE square foot, and you won't find that on the public record.  I won't bother to tell you that every home out there could have floor plan issues, such as tandem bedrooms, family rooms that are too small, hallways in the wrong place and homes without mudrooms.  But they can and do.  And even if buyers can't quantify it in numbers, I'm here to say that they vote with their wallets, and homes that have non-useful floor plans look cheap at first glance.  Till you get in them, of course, and realize the issues when you're inside.

 

Myth #6 - It's a house- so any upgrades that I do will pay for themselves when I sell it.

 

Most people do improve the values of the homes they buy by upgrading them, or doing improvments.  But there's no guarantee that's going to work. I have seen people do very expensive improvements that were poor equity builders. Finished basements, pools, tandem rooms, "extra" bathrooms, roofs, and all sorts of other improvments can be far more expensive for you than what the market will bear for such items. A pool is a classic example: putting a pool in could cost $15-25,000, pretty easily, by the time you get done with the pool, the surround, and the fence. But the home is now worth little more than it was when you started.

 

Oct. 7, 2011

Home Sold in Southborough: Deerfoot Road

Too Late, Another Home Sold in Southborough

 

This home has found some wonderful buyers! Thanks for using Heisler & Mattson Properties, and feel free to invite me out to the pool next summer. I'll bring margaritas.....

 

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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.

Posted in Southborough, MA
Oct. 6, 2011

Too Late: Another Home Sold In Southborough

Waterfront Home has New Owner

Property on the Sudbury Reservoir has been coveted for decades in Southborough. This home has some real quality upgrades and great views of the reservoir as it winds past Parkerville. Best of Luck to the new Owners!

 

View Larger Map

 

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.

Posted in Southborough, MA
Oct. 4, 2011

Home For Sale in Southborough

Did you know?

Southborough Ranked #8 in Boston Magazine for town wide school performance

 

And that means there's no reason this home should still be on the market!

 

189 Woodland Rd, Southborough.

 

This is a great colonial, at a great value!  Classic 4 up, 4 down with large family room, nice deck on a cul-de-sac street.  On the market today for 479,900!

 

Check prices and pictures here Home for Sale in Southborough:

 

This home in Southborough should be

gone!  Still here for you to see!

 

 

 

 

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.

Posted in Southborough, MA
Sept. 29, 2011

Upton, MA - Home Sales Statistics (Sept)

Analysis of Upton Housing Market Statistics

Upton has seen some really good momentum since the last report for sellers. Available homes are down, sales are up, and so we see the big change in the Hot Seller Index, as Upton heats up. Upton had some really good values, so I'm not surprised that the buyers started snapping them up. The activity was much needed, and we'll have to see if it continues, but we're left with a pretty even market. Upton is a small market, so there may be spot areas of limited inventory or strong demand or both. Buyers may see demand for certain homes.

 

 

Find Your Next Home or Check out the Competition!

 

 

 

 

Upton Housing Market Statistics - Raw Data

 

  • There are 46 homes (vs. 56 in the last Upton Home Sales Report) listed as For Sale.
  • There have been 47 houses sold (vs. 39) in the last 6 months, and 32 homes sold (vs 24) in the last 3 months.
  • There was an Average Market Time of 134 days for just SOLD homes.
  • There is an Average Market Time of 152 days of the homes For Sale.
  • There was an Average Sold Price of $420,679 for sold homes.
  • Upton has 2 properties advertised (vs. 0) as lender owned (typically foreclosure) .
  • Upton has 1 properties advertised (vs. 1 ) as short sales required by lender .
  • Upton “Hot Seller Index”: 83 Last Report: 70

 

 

*All statistics are for Single Family Homes.

 

Read my Explanation for Massachusetts Home Data Reports.

 

Our Most Accessed Posts

Matt Heisler is a real-estate professional and owner of Heisler & Mattson Properties. He has been selling residential real-estate for over 20 years. He has given several talks on real estate, including presentations on first-time buyer tips & tricks, and profiting in real estate investing in Massachusetts. As a Vanderbilt University alumnus, he is proud to serve his local community. *All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.

Posted in Upton, Ma
Sept. 29, 2011

Sox Sink in September Swan Song

There will be many who say it wasn't supposed to end this way.  There will be many who look at the season numbers for the hitters years from now and say "How did it happen?".  Many who will talk about Jacoby's MVP season whether or not he gets the award.  The disappointment, the opportunity lost will not be lost on a fandom that follows the team as close as this one does.

 

Through the first five months of the season, the Sox were 83-52.  If they had limped through a .500 September, they would have been 97-65.  97 Wins is a hell of a season, anyway you slice it, especially in the AL East.  They make the playoffs, beat the Yankees for the division (assuming one extra win in those .500 comes against the Yankees.)  Everyone celebrates. There would be worries, with such a poor stretch of play, but we would focus on playoffs and the division win as good things.

 

Instead, they implode, going   7-20 down the stretch, and losing the division, the wild card, a chance at redemption, and a whole lotta respect.  The last game of the season was a microcosm of the whole month - other than watching Lackey get beat around the mound - with a overaggressive base-running error (playing for one run - not their strength), lots of men left on base and unable to get the key hit, a key defensive miscue, and an exhausted bullpen.  They played well until the rain delay and then the wheels came off.  In September, when they hit, they gave up too many runs.  When the starters were good, the bullpen wasn't.  When the bullpen was good, the starters weren't.  When they pitched and hit well, errors did them in.

 

In my last couple of posts, looking at the pitching, the injuries and just the overall execution I felt they weren't going anywhere in the playoffs.  But I'm not at the point where I think it's better this way, to have ended so soon.  It's not.  Unfortunately, we'll have a lot of time to reflect on what happened.  But there were some easy to identify issues at this point.

 

Primary  Red Sox  Issues with No Resolution

Historic Collapse Brings Many Questions

to the Red Sox

Only two guys fall in this category.  Carl Crawford and John Lackey.  Lackey has me feeling the way the Yankees must when they signed Carl Pavano (who had the decency to be hurt his entire contract) or AJ Burnett.  His two year career with the Sox has been nothing short of disastrous, and we're stuck with at least one more year, probably two, of watching him gut out bad start after bad start. (His contract is longer but I'm assuming A) he gets better, B) he gets released ) There's nothing positive to say here about his season, which was the worst of any Red Sox starter ever.  If it wasn't for his contract and injuries (mostly contract) he would have been in Pawtucket or the bullpen by August 1st.  I don't see how he could be WORSE next year.  So maybe that's a bright spot. Others may have had high expectations, but for myself I just expected 200 innings at 4.3 ERA.  That's it - an inning eating machine with a .500 record.  This year we got a 160 innings of a 6.41 ERA.  I'd put that in context, but there is no context to put it - it's that bad. On any other team, he ends up with a 3-21 record.  The Sox hit for him though, unlike Beckett, so he ends up 12-12.

 

Crawford remains a mystery to me.  Like Lackey, he's on a short list of "worst seasons ever had by a Red Sox starter".  Basically, it's a list you don't want to be on.  His contract was untradeable at the start, like Lackey's, and the only bright spot here is that this year could just be an outlier.  A do-over.  Hitters normally return to averages.  Only the Sox and Crawford know what happened.  Did they try to change his approach at the plate?  Did he try to change it, only to realize he couldn't change it back?  Is he unable to forget about yesterday and focus on today?  Is he mentally unfit to play at Fenway? The fans gave him a pass this year.  Drunk on the knowledge that he could probably scuffle all year and it wouldn't matter, the cruel eye of Fenway searching for non-contributors stayed fixed on Lackey and scarcely rested on the troubled left-fielder. There is no chance that will happen next year, if he continues to play like a 40 year old Vladimir Guerrero.

 

Important Red Sox Issues with Some Potential Resolution

Dice K:  A truism of any sport is that if you get hurt early enough in the season, people forget you were ever expected to contribute.  Well, as noted here on the blog, Dice-K was a major loss.  He look better than he had in years (and the numbers prove it), when he blew out his elbow, and basically ended his tenure with the Sox.  Will he pitch for them in the second-half next year?  I don't know.  With Scott Boras as his agent, he'll pitch if Boras thinks he needs to showcase his player for free agency, and not play if Boras thinks the market will be better if he remains a "wildcard".  Those tea leaves have not been read yet, and only next year will we  know.  But these are the facts: Dice-K's career numbers would have been welcome relief down the stretch for the Sox, and I for one would still be thinking about pennants were he still on the roster.  With little left on his contract (a paltry $6 million or so is owed to him), he is tradeable, and with it already known he won't be ready for the start of the season there's a roster spot open.  Aceves, this may be your moment - you've earned it.

 

Papelbon: He's headed to free agency. Another Boras client, after what Boras will no doubt claim as a Mo Rivera-like season, he's getting 3-4 years at $8-10 million per.  And it won't be from the Red Sox.  They have a strategy of  relying on the farm system to grow talented closers, and Bard will get a crack at it next year, and if that doesn't work it'll be Jenks (who also got hurt early enough that people forget he could have been a difference maker.  They win last nights game - and a couple of others - this month with a healthy Jenks.).  Closers are replaceable, but I will miss him, and I have no illusions that his replacement will be better - just sufficient.

 

Wakefield: Wakes numbers slipped this year.  Not much but they slipped.  Why mention it?  Because Wake is the most eerily consistent pitcher I've ever looked at numbers-wise.  I love the irony that the most inconsistent of pitches - the knuckleball - is responsible for the most dependable numbers in the game.  Wake knows now that he's a bullpen guy unless there's injury, and after this year he's got to be wondering if it's time to hang them up.  If it was his last year, even though he was never a Cy Young candidate, that quirky knuckleball was the source of so many stories (Doug Mirabelli police escort), so many highs (I was at the game where he pitched 8 1/3 no hit) , so many lows (the Boone HR in the ALCS in 2003), and the uniqueness of watching a guy through a 65 mph pitch past the best hitters in the world, he will be missed.

 

Important Red Sox Issues on the Back Burner

There are solutions for the team in these areas already.  But they aren't closed areas for the team to work on.  Clay Buckholz - can he return and give them a full season?  Josh Beckett - can he pitch in an even number year?  John Lester - can he continue to improve - and keep the staff on track.  Josh Reddick:  He's earned the RF start, even though he's left handed, and issue for this club.  He'll be a 7-8 hitter in next years projected line-up, and I hope he stays.  He brought a lot of youthful exuberance to the team, and I think his star is bright.  Ryan Lavarnway/Jason Varitek: Sox have a decision to make here.  The future is clearly a Salty and Lavarnway tandem (assuming they can't trade up), and I'm not sure who'll get the most starts two years from now.  It's still early to wonder if you can bring up Lavarnway, but I don't think he has anything left to prove in Pawtucket, and he could be a game-changer for the Sox. Varitek has a serviceable season - .300 OBP and .721 OPS for a backup catcher, but he was tough to watch down the stretch, and I'm not sure you can give him 68 games again.  Kevin Youkilis: Kevin is a workout machine and was in shape for this season - like any other.  But his injuries are notable for their severity and location.  Ruptured disks are bad.  The Sox weren't the same without him in the lineup, and the fact that he's the best right handed hitter on the team is a major concern.  Lowrie/Scutaro: Scutaro ended up playing another solid year for the Sox, as Lowrie failed to stay healthy again.  He's at the end of his contract, not sure where we go from here.  Pitching Coach: Four words: Find a New One.

 

This post is already overly long, and there's more to write, but it'll wait - I've got until February to write it.

 

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.

Posted in Red Sox
Sept. 28, 2011

Wild Card Lead Gone, Are the Sox Playoff Bound?

It's been a fun game tonight. Probably because they are winning, which is basically something we haven't seen for the entire month of September.

 

1+ game to go, and the outcome still in doubt for the Sox.

Slump Stretches to Horrific Proportions

As noted in the last post, when a team slumps, it can get ugly. The Red Sox just ran out of players, primarily pitchers, who could give them innings. A baseball team, even a good, deep one, is a house of cards. A few bad starts leads to overusing the bullpen, leads to inflated scores, leads to hitters pressing at the plate and in the field, leads to hitting slumps and problems in the field. Personally, I don't think anything worse can happen to a ball player than him going up to the plate thinking "If I just hit it out, we can win the game". That's a recipe for an out, or a double play, or a big fat K. The worse this slump got, the harder it got to watch the Sox. Even with all the struggles, they are still first in most of the offensive categories, and make no mistake, they have enough talent offensively to make a run if they get to the playoffs, but the pitching is going to need to seriously get hot in a damn hurry. It can happen, sometimes it just takes one game to turn it around (like game 5 in 2004 in the ALCS against NY, and the JD Drew Grand Slam in '07). All of a sudden the confidence returns, the club relaxes, and the talent shines through. We're a LONG way from that though.

 

Lets Focus on Baseball Please

The Wild Card Race is Closer

than the Stitches on a Baseball

Before I get to baseball, one closing note about management activity. There's been a lot of talk about Epstein & Francona, but I have no idea why. They aren't playing. Francona was good enough to guide much less talented teams to two World Series, and if he's managing differently now than then, I can't tell. Blaming Epstein for anything is ridiculous. The Sox were a wealth of riches going into the season, and that's due solely to his efforts. They were young, talented, and had players who like to compete.And some of the guys they've both stuck with are having seasons to remember long after this year is done (Ellsbury, Paplebon, Pedroia)  I hope the Sox make it into the playoffs, just so I don't have to listed to a whole off season of "Will Tito get canned for the Epic Collapse?" and "Is Epstein going to the Cubs?" These things will come to pass, or not, as the case may be, but it has nothing to do with the 25 guys who are trying to dig out of the epic funk they are in.

 

Can The Red Sox Get In to the Playoffs?

Well, they can, mathematically. Game has wound up tonight for both the Sox and Rays, and the Rays have won, so tomorrow will be the same story - tied for the wild card. So Sox win (and with Lester against the O's, you have to like their chances), and Rays lose (need luck for that) and they are in. With both the Yankees and the O's playing for basically nothing (especially the Yankees, who likely will just trot out the starters...), both team have a chance to win. If both win, then we'll have a one game playoff. Everyone will be "available" but what a mess for both teams - Lester and Price both pitch tomorrow, so they will be the least available, and Shields and Beckett are both on two days rest - hard to think they'll make a big difference. So the Sox will be looking at something like Wakefield and Aceves (more on him in a minute) for a chance to go to the big dance, and Tampa Bay will be relying probably on a host of pitchers to get them though the one game playoff.

 

I hate to say it, but I like Tampa's chances. It's not just the Sox have played AWFUL ball for a month straight. They are coming out of their funk, not as fast as I'd like, but they are playing better. It's that against quality pitching, they've struggled. Everyone struggles against good pitching, but they have not won many games against the Rays because they have the best staff in the AL east, and probably the AL. It's basically the worst matchup we could get, even if we don't get their best shot. It'll be a wild one, that's for sure. I know I'll be watching. Can't really talk about things more in advance than that at this juncture, lest the baseball gods get angry at me.

 

 

 

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.

Posted in Red Sox
Sept. 27, 2011

Westborough Snubbed by Boston Magazine for Best Schools Ranking

 

Nothing like a Top 10 List to get people banging on the door when they are left off the list.

 

Westborough Graduates

Can do Math Very Well,

Thank you

Recently, Boston Magazine did a article on the best public schools listing.  It's not supposed to be statewide, but they certainly should have been clearer about the area they were covering in the piece.  They drew an (ed. arbitrary) line around 495, and decided that Hopkinton was inside 495, and Westborough was outside 495, and off the list.  Although Westborough has stellar MCAS scores, (and has for years, as seen in my 2009 MCAS composite ranking) they were considered out of the geography of contenders, and dropped from the list.

 

Westborough Residents noticed!

 

They were most assuredly not happy, and took to the internet and phones to voice their displeasure.

 

It's unfortunate, but take heart, Westbororians, those of us in Metrowest know you are doing an excellent job with your students.

 

I do applaud Boston Magazine for doing "extra" research beyond the MCAS numbers, to try to come up with a solid list that reflects more than just scores.  It's a solid effort to get at a very difficult metric (it should include Westborough, though, which has a far easier commute to Boston than say, Swampscott, or West Bridgewater or Taunton).

 

 

 

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.

Posted in Westborough, MA
Sept. 26, 2011

Sutton, MA - Home Sales Statistics (Sept)

Analysis of Sutton Housing Market Statistics

At first glance, the extra inventory suggests a little too much inventory in Sutton, but a quick look at the pendings shows the next report will likely be quite strong, and more balanced.  Looks like Sutton has been busy in September, but that's too soon to show up in the statistics.  We're not going to see a rip roarin' market though, just a neutral one, and buyers will find price ranges where inventory is decent, and there are viable options.  Buyers should be aware though, that with actives averaging just 120 days, there won't be very many sellers will anxious to take aggressive bids, they just won't be anxious enough.

 

Find Your Next Home or Check out the Competition!

 

 

 

Sutton Housing Market Statistics - Raw Data

 

Sutton is a little slow for home

sellers, but the market is moving.

 

  • There are 62 homes (vs. 55 homes for sale in the last Sutton Home Sales Report) listed as For Sale.
  • There have been 44 houses sold (vs. 45) in the last 6 months, and 25 homes sold (vs. 30) in the last 3 months.
  • There was an Average Market Time of 154 days for just SOLD homes.
  • There is an Average Market Time of 128 days of the homes For Sale.
  • There was an Average Sold Price of $352,750 for sold homes.
  • Sutton has 2 properties (vs. 3) advertised as lender owned (typically foreclosure) .
  • Sutton has 7 properties (vs. 6) advertised as short sales required by lender .
  • Sutton “Hot Seller Index”: 70 Last Report: 76

 

 

*All statistics are for Single Family Homes.

 

Read my Explanation for Massachusetts Home Data Reports.

 

Our Top Articles

Matt Heisler is a real-estate professional and owner of Heisler & Mattson Properties. He has been selling residential real-estate for over 20 years. He has given several talks on real estate, including presentations on first-time buyer tips & tricks, and profiting in real estate investing in Massachusetts. As a Vanderbilt University alumnus, he is proud to serve his local community. *All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.

Posted in Sutton, MA