General Index 

Analysis of Medfield Housing Market Statistics

Popular Medfield has taken a huge jump in the Hot Seller Index, but the market is probably a little more mixed than the number appears. First off, the good news: Days on market for SOLD homes dropped like a stone, to just over 100 days, the sure sign of a hot market. The active property dropped, and the sales are up - with the last three months, as we've seen in other towns, really achieving a big number. However, the active properties have been on the market 150+ days on average now, and that means many sellers will be contemplating price reductions. Especially in the Luxury market - in the under 650K part of Medfield, not much to see, but the average list price of the homes for sale is well above 800K. Luxury home owners, your market does not have enough buyers, so make sure you are well positioned when one comes through town. There's been just 11 sales over 800 in the last six months - and there's 25 properties on the market in that price range. Buyers in that price point should be aggressive negotiators, and be careful of valuation concerns.

Show Me Medfield, MA Homes for Sale

Medfield Housing Market Statistics - Raw Data

• There are 74 homes listed as For Sale (vs. 93 in the last Medfield Home Sales report).

• There have been 88 houses sold (vs. 66) in the last 6 months, and 65 homes sold (vs. 48) in the last 3 months.
• There was an Average Market Time of 102 days (vs. 128) for just SOLD homes.
• There is an Average Market Time of 151 days of the homes For Sale.
• There was an Average Sold Price of $606,210 for sold homes.
• Medfield, MA has 0 properties advertised as lender owned (typically foreclosure) .
• Medfield, MA has 4 properties advertised as short sales required by lender .
• Medfield, MA “Hot Seller Index”: 94 Last Report: 80

*All statistics are for Single Family Homes.

Read my Explanation for Massachusetts Home Data Reports.

Our Top Articles

• What is a condo fee or HOA fee and what does it pay for?
• What is a 203K loan, and can it help me fix up a home I want to buy?!
• Can I use an FHA loan for a condo? It depends.
• What is Deed In Lieu of Foreclosure?
• I need a house cheap! Is a home foreclosure or an REO property the right way to go?
• Investors can make money on foreclosures - can you?
• What should I do if I have high levels of Arsenic in my Private Well?

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.

Injuries Begin to Matter for the Sox

Most of the season, this blog has been a pretty much a love fest between me and the Sox. I felt, (rightly so, in hindsight) that on paper at the beginning of the season, the Sox were the team to beat. Phillies & Rays looked good pitching-wise, but I didn't think they had the punch they needed to get past the Sox. Texas had a heck of year last year - could they keep it up? I was skeptical, and with the roster the Sox had, didn't think it mattered.

Well, it matters now.

What changed on the Red Sox

I'll tell you what changed: The rotation. When Dice-K was lost for the year, people shrugged it off. But he was a quality arm, and they aren't easy to replace. Lackey has looked better, but is still pitching like a fifth starter, not a 2 or even a 3. And when Buckholz goes down, now replaced with Bedard, you realize: They've got two quality starters.

That's not enough to guarantee them the division championship, let alone the World Series. Although I still think the Yankees may crumble down the stretch, all evidence points to the fact that the Yankees are tough, motivated, and perfectly capable of competing this October. The good news is the Sox match up well against New York, as evidenced by the record against them this year. Bad news is, they match up poorly against the Phillies, Texas, and even Detroit.

Can the Sox hit Good Pitching

Folks, this is the big question. Everyone hits less well against quality pitching, but this Sox team has slumped three times this season, counting the current slump, and has looked rather ORDINARY against bad teams when they aren't putting 10 runs on the board. That's not a good sign folks. Not good at all. I usually feel the team that catches fire offensively in the playoffs is the one that goes home with the trophy, you just need hot bats to get past all the quality pitchers, and clearly, the Sox are looking to rest their guys now, get them healthy, and then kick-ass in September and storm the playoffs. It's a good plan, but if they aren't hitting, we got problems.

And they aren't hitting. We're in trouble for sure if Youk and Ortiz don't get healthy. Crawford can't be the strikeout maven he's been almost all season at this point. Salty and Scutoro have had good stretches but we need more, and Reddick needs to make the adjustments to stay a viable threat. That's over half the line-up, and it's majorly concerning. Worse, the Sox have had Jekyl and Hyde routines against quality starters. When they're good, they get their smacks, but often times, the hitting evaporates. That means you can pencil in two wins for Detroit against Verlander in a short series, and makes me decidedly uneasy for the Phils if we get that far.

I'm not panicking. They're in it. They've got talent. And you can certainly win the whole thing with two quality starters and some sluggers. But it won't be the unfettered joy-ride it looked like in April. It'll be nail-biting series all the way.

Do Good Things Today!

Matt Heisler

Analysis of Marlborough Housing Market Statistics

Marlborough Housing Market Statistics - Raw Data

• There are 142 homes (vs. 152 in last Marlborough Home Sales Report) listed as For Sale.
• There have been 138 houses (vs. 109)  sold in the last 6 months, and 94 homes (vs. 64) sold in the last 3 months.
• There was an Average Market Time of 132 days for just SOLD homes.
• There is an Average Market Time of 176 days of the homes For Sale.
• There was an Average Sold Price of $285,514 for sold homes.
• Marlborough “Hot Seller Index”: 81 Last Report: 72

*All statistics are for Single Family Homes.

Read my Explanation for Massachusetts Home Data Reports.

Our Top Articles

• What is a condo fee or HOA fee and what does it pay for?
• What is a 203K loan, and can it help me fix up a home I want to buy?!
• Can I use an FHA loan for a condo? It depends.
• What is Deed In Lieu of Foreclosure?
• I need a house cheap! Is a home foreclosure or an REO property the right way to go?
• Investors can make money on foreclosures - can you?
• What should I do if I have high levels of Arsenic in my Private Well?

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.

I'll attempt to answer this question both from a mathematical perspective, and from a "what buyers are thinking" perspective. Remember, this blog is primarily written for those who live in the North East, which I consider to be solar challenged.

How Much Can I Save With Solar Panels on My House?

Today's solar panel systems have huge benefits over the solar systems that were made even 10 years ago. There have been enormous gains in efficiency in the panels (you get more energy from fewer panels) and today's systems can be installed with the ability to sell power back to the grid, where in the old days of solar, any excess

energy generated was wasted. Still, power generation is modest, especially in the north east, where we have plenty of cloudy days and tall trees which impacts potential sunlight. For the homeowner who's doing a solar project to be good to the environment: Good for you! But read the next couple of paragraphs to understand how it impacts your homes value. For homeowners thinking about saving money with solar panels, I'll outline a framework for how you should think about solar, and you can see if it works for you.

Solar Panels as A Capital Expense Item for Your Home

Houses have many capital expense items. A capital expense items is an item that has a long life, but requires significant capital, or money, to replace when it's usable life is over. Typically, capital expense items include Roofs, Burners (gas or oil), Windows, and Septic systems. If you're going to pay for solar panels, you can add solar to that mix. Solar installations costs vary widely depending on how many panels and how complex a system you put in. 5,000 to 20,000 is a big range, but a average system for most homes is going to fall in there. If thing line up right, you could be generating 400-600 kilowatt hours of energy, which saves you $48-72/ month. For ease of calculations why don't we say $60 for 12 months which is $720/ year. If you've spent 15,000 on your solar installation, it'll be 20 years before your installation is "profitable" and that's assuming it doesn't need maintenance or repair in that time frame. A twenty year time frame is a long time, and that, folks, is why most homes sold in New England do not have Solar. I can guarantee you that when Solar has a five year payback we'll be seeing these systems pop up all over the place, but that's just not the case right now. Still though, once they are in place, they save the homeowner money, right? So the systems should be worth something on the open market. Well, let's see.

Leasing Solar Panels - Always a Good Idea?

The most popular solution for Solar - by far - is systems where the Solar company "leases" you the panels, for little upfront money. These leases are typically 15-20 years, and they are structured so both the homeowner and the solar company benefit. Although there are a LOT of variables, most systems try to generate $100-$125 in savings a month, a portion of which is passed on to the home owner, and a larger portion is passed back to the Solar Company. In this way, the Solar Company "pays" for the panels that they put on your roof. This solves most of the capital issues, and most Solar companies are now also including language that if the roof needs to be replaced, they will take the panels off and put them back on when the roof is done. But be aware: If you go to sell your home, the Solar company needs to approve of the new buyers in order to transfer the system in their names. So selling your home just got a little more complicated. If they don't approve of the new owner, I'm not sure what happens - but they may require you to buy out the panels, and then you should re-read the previous paragraph. Because of the complications, any homeowner who is thinking of moving in 3 years or less probably shouldn't lease or buy panels, in my opinion. The risk is too great it will be a burden when you sell.

How Home Buyers Should Look at Solar Panels

Home buyers should include the savings of solar in their final analysis for the home. Note, they should calculate the SAVINGS, not the EXPENSE. If you spend 15,000 on solar for your home and sell it the next day, your home is not worth 15,000 more! If you're saving $60/month, technically, that will allow you to spend another $60 a month on your mortgage, a month, and that works out to about $10,000. (I'm overlooking future maintenance costs here as well). So, if it was me, I would value Solar over a home without based on what I save, but I probably wouldn't pay it all (the full $60) because I am taking ownership of another system that likely will need some fixing by professionals over the lifetime I'm in the house. If you are buying a home with a leased system, see how many years are left on the lease, and read carefully who is responsible for moving the panels if there's a roof replacement, and what happens to the panels after the lease is up (do you get to keep them? yeah!). This is a NEW industry, and leases will probably have lots of different clauses as we get through wider scale adoption.

The truth about How Home Buyers Look at Solar Panels

Solar is still a rarity in New England, (but becoming less so....) and most buyers are pretty flummoxed by the new systems. Although I don't agree with everything in this Bloomberg article, you can see what I mean). And if you had to add the panels to the front of your home and it doesn't add to the curb appeal.... Well, it's not good. Typically, I find most buyers are unwilling to pay any extra for solar. The unfamiliarity, and the uncertainty of the effectiveness, are big negatives to over come, and so we don't see a big push by the buyers for these homes. There are certain buyers, to be sure, who are "Green Focused" and will make financial and personal sacrifices for homes that meet their world view, but there are fewer of them then you might expect (at least in my experience). You could argue, in fact, that septic systems are "green" systems, relative to sewer systems (which require processing which expends significant energy and chemicals). Yet I find that most people are more comfortable with sewer, for the low cost, low risk scenario it presents. (To be fair, I'm not sure the septic guys are marketing the "Green-ness" of their systems. Maybe they should?)

Overall, I'm very optimistic on Solar's potential - especially in parts of the country where a rain day is a special event. Look for Solar energy to be part of the package in California and Arizona, and once that takes root, the systems may get cost effective enough to find their way out East.

Do Good Things Today!

Matt Heisler

Did you Like this post? Help others find it by Recommending it.

Here is a home that when it was built, was built in Southboro. Note the spelling difference!   (Southborough changed the spelling of it's name in the mid-80's I believe).  Southboro can still be seen by looking at various older businesses (like our friends at  Southboro Auto Tech!) and the Worcester registry of deeds, which still calls Southborough by the old name.

At any rate, it's got some nice space, large barn which would be useful for an in home business, and 2 kitchens, in law set up.  Nice value for the price, with over 2000 sq feet!

Full listing sheet here

Do Good Things Today!

Matt Heisler

I've been dying to write a discussion the last couple of days about the economy and the stock market.  When the stock market dives like this, I find it hard not to watch MSNBC and the like.  Although brutal, watching a train wreck in slow motion (or not so slow) is hard not to watch.

Why is the Market Headed Down?

I've been fascinated by watching the various opinions out there to answer a simple question: Why have stock investors gotten so bearish?  Many - although not most - have suggested that this is deja vu- 2009 all over again.  Bank stocks have been getting hammered, so it certainly looks like the investing public has bought into to some version of that story.

I think that's ridiculous.  There are so many differences!  Let's look at some.

Differences between 2009 Economy and Now

There are huge, enormous, differences between 2009 and now, and although I could probably write the longest column ever, I won't so here's a summary.

2009

-Banks over-leveraged (too few assets, too many loans)

-Banks unaware of total amount of risky assets on the books

-Foreclosure numbers/non-payment numbers on home loans headed up

-Home prices falling fast

-Massive Job Losses; unemployment headed up

-Interest rates high

-Oil high

-Government and other economists openly talking about "depression", "credit crisis"

-Major institutions collapsing (AIG, Lehman Bros, and many others!)

-Companies posting losses instead of earnings

2011

-Banks leverage has been brought way down

-Banks very knowledgeable about assets and risk allocation

-Foreclosure numbers headed down

-Home Prices headed down, but very slowly, and stable/moving up in many more markets

-Job Gains

-Interest Rates Low

-Oil Falling, getting close to low.

-Few experts talking about a credit crisis or depression, at least in USA (Europe is another story...)

-No Major collapses- and most bank vigorously defending their balance sheet with facts.

-Companies posting record positive earnings.

I'll be the first to tell you that in 2009, I felt we were standing at the edge of the economic abyss, and, as ugly as things got I think most people are aware they could have been far, far worse. Like 25% unemployment worse. It was really shameful how unprepared these (very wealthy and greedy) banks were about the loans they were writing just so they could line their pockets.  But the truth is most banks began addressing many, if not all of those issues after the 2007 sub-prime shock - the first real indicator that credit had gotten way too loose - and that was a long time ago.  There really isn't anything that I can see that makes 2011 look like 2009, except for, of course, the stock market plummeting. Unlike 2009, I expect companies to keep posting good earnings, and with bond yields basically at zero in most stable countries, I expect capital to come back to the market. Which reminds me, about that stock market....

Most Economists Will Tell you The Stock Market Means Squat

Stock Markets trade on expectations- not realities. This is easily forgotten though, especially when your very REAL money is disappearing. But since they don't trade on realities we see odd behavior in the stock market. It has (often) grown when the economy was still heading down, and it has pull backs during growth phases. Although it destroys wealth, it doesn't directly destroy jobs, or consumption, or affect earnings. The market has an effect on confidence, but an indirect one.

And When in Doubt, Look Around

How bad was 2009? I could go a week without my phone ringing. And I log some serious minutes even when things are so-so. So how about now? I am as busy as I've been in five years, so if the tone of this blog is optimistic, it's because I know a lot of folks who are buying and selling houses, and the rates (3.99 for a 30 year fixed this morning) are going to keep things moving. I don't welcome the stock market crash, but I think the economy is better than people think (and so does Jamie Dimon, CEO of JP Morgan Chase Bank, and I'm sure Warren Buffett does too). Let's hope it pans out that, as one credit crunch is enough for my lifetime.

Matt

Do Good Things Today!

Matt Heisler

Analysis of Hudson Housing Market Statistics

We haven't look at Hudson since May, but things haven't changed much. A lot of inventory has turned over, and we see that the buyers have to work to get the right property, but overall there's balance in Hudson, all around. Look for Average Market Time in both categories to rise as we go through the fall, as it looks to me likes there's too much inventory on for the fall market, and not enough pending to bring it down to a tighter market. Sellers should be aware that price changes may be in order, as the market in Hudson is not as hot as it was last year.

Also note the short-sales are all gone - looks like some lenders finally cut their losses and made some deals. You have to wait around a long time for a short sale today, but buyers are saving money going this route.

Show Me Hudson, MA Homes for Sale

Hudson Housing Market Statistics - Raw Data

• There are 77 homes (vs. 62 in the last Hudson Home Sales Report) listed as For Sale.
• There have been 71 houses (vs. 61) sold in the last 6 months, and 46 homes (vs. 40) sold in the last 3 months.
• There was an Average Market Time of 108 days (vs. 121) for just SOLD homes.
• There is an Average Market Time of 115 days of the homes For Sale.
• There was an Average Sold Price of $264,633 for sold homes.
• Hudson has 2 properties (vs. 2) advertised as lender owned (typically foreclosure) .
• Hudson has 1 properties advertised as short sales (vs. 7) required by lender .
• Hudson “Hot Seller Index”:85 Last Report: 84

*All statistics are for Single Family Homes.

Read my Explanation for Massachusetts Home Data Reports.

Our Top Articles

• What is a condo fee or HOA fee and what does it pay for?
• What is a 203K loan, and can it help me fix up a home I want to buy?!
• Can I use an FHA loan for a condo? It depends.
• What is Deed In Lieu of Foreclosure?
• I need a house cheap! Is a home foreclosure or an REO property the right way to go?
• Investors can make money on foreclosures - can you?
• What should I do if I have high levels of Arsenic in my Private Well?

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.

Analysis of Hopkinton Housing Market Statistics

Hopkinton Housing Market Statistics - Raw Data

• There are 103 homes (vs. 106) listed as For Sale.
• There have been 96 houses (vs. 59) sold in the last 6 months, and 79 homes (vs. 39) sold in the last 3 months.
• There was an Average Market Time of 101 days( vs. 153)  for just SOLD homes.
• There is an Average Market Time of 112 days of the homes For Sale.
• There was an Average Sold Price of $524,297 for sold homes.
• Hopkinton has 1 properties advertised as lender owned (typically foreclosure) .
• Hopkinton has 3 properties advertised as short sales required by lender .
• Hopkinton “Hot Seller Index”: 93 Last Report: 76

*All statistics are for Single Family Homes.

Read my Explanation for Massachusetts Home Data Reports.

Our Top Articles

• What is a condo fee or HOA fee and what does it pay for?
• What is a 203K loan, and can it help me fix up a home I want to buy?!
• Can I use an FHA loan for a condo? It depends.
• What is Deed In Lieu of Foreclosure?
• I need a house cheap! Is a home foreclosure or an REO property the right way to go?
• Investors can make money on foreclosures - can you?
• What should I do if I have high levels of Arsenic in my Private Well?

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.

Analysis of Holliston Housing Market Statistics

If you've been reading my Holliston Reports, this months report probably won't shock you.  As predicted in the last report, home purchases have completely chewed threw the homes for sale - and sellers aren't listing fast enough to keep up with demand.  As a result, we have seen a huge turnaround as Holliston official becomes a seller's market, at least for a little while.  Here's why:

With a SOLD/FOR SALE ratio of 3:2 (many more sales than sellers), the demand curve is favoring sellers.  Median prices have jumped to the mid four hundreds,

showing sales in all price ranges.  14 Sales have been at or above list price, showing that there have been competitive offers in almost 20% of sales.  All this gives Holliston a Hot Seller Index of 100, and we know that's a huge number.

It's been a real feeding frenzy in Holliston, hopefully sellers are taking advantage.  Buyers, be aggressive.  Nice properties are difficult to negotiate on if they are new to market.

No changes in the foreclosure, short-sale market.  Looks the same from here.

Show Me Holliston, MA Homes for Sale

Holliston Housing Market Statistics - Raw Data

• There are 61 homes (vs. 80 in the last Holliston Home Sales Report) listed as For Sale.
• There have been 98 houses sold (vs. 66)  in the last 6 months, and 65 homes sold (vs. 50) in the last 3 months.
• There was an Average Market Time of 114 days (vs. 127) for just SOLD homes.
• There is an Average Market Time of 180 days (vs. 130) of the homes For Sale.
• There was an Average Sold Price of $447,761 for sold homes.
• Holliston has 2 properties (vs. 2)  advertised as lender owned (typically foreclosure) .
• Holliston has 6 properties (vs. 7) advertised as short sales required by lender .
• Holliston “Hot Seller Index”:100 Last Report: 80

*All statistics are for Single Family Homes.

Read my Explanation for Massachusetts Home Data Reports.

Our Top Articles

• What is a condo fee or HOA fee and what does it pay for?
• What is a 203K loan, and can it help me fix up a home I want to buy?!
• Can I use an FHA loan for a condo? It depends.
• What is Deed In Lieu of Foreclosure?
• I need a house cheap! Is a home foreclosure or an REO property the right way to go?
• Investors can make money on foreclosures - can you?
• What should I do if I have high levels of Arsenic in my Private Well?

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.

Just some commentary on this article in the Globe this week!

Metrowest Rental Market Favors Landlords

How tight is the rental market?  REALLY tight.  A week or so ago I had a call off the blog for someone who was interested in renting one of our houses for sale.  I told him no, the seller wasn't interested in that type of transaction, as it was likely their house would sell, and then, just as a courtesy, wished him luck, as I felt that the rental market for single family houses was extremely difficult, and he should be aggressive in pursuing options.

"That's funny," he said, a little incredulously, "The last agent I talked to said the exact opposite."

Well, the last agent you talked to was a moron.

In Ashland, Hopkinton, Northborough, and Westborough, there are currently 13 properties in MLS for rent between 1500-2600, the high end rental market, typically the softest market around. Over the last six months, there have been 36 successfully rented. The AVERAGE market time for those 36 properties is 34 days. That's a 1:3 ratio for actives to sales. Last year at this time, it was a 2:1 ratio, (look close, that represents a huge turnaround) with more people looking to rent than tenants. The 34 days is probably the lowest I've ever seen in this price range. In a good market for landlords, it's close to 90, so this represents a fantastic market.

In the whole state, I see 3462 rentals in MLS available, with 7239 already rented, a 1:2 ratio. MLS doesn't carry a huge percentage of rentals, but it's more than a representative sample. Further (and just to beat this dead horse a little more), in all of my area (not counting Worcester) 201 Active and 480 Rented. (1 to 2.5), with average rental time of 45 days. So, Wow. Holy Smokes, Can you Believe it, and all that and a Bag of Chips.

Now, maybe the rental market doesn't stay this tight. For now though, the pressure is on the tenants.  In the last two weeks I've talked with two sets of folks who saw their rents get bumped up - way up. One tenant was a tenant-at-will and the landlord demanded a switch to a year lease or was prepared to have him vacate. Bottom line: renting may not be the low risk option it was just a few years ago.

Climbing Rents will Help Housing Market in Metrowest

It's obvious that climbing rents will push people into housing. What's not so obvious is how many, and how fast. Even a small shift in renter-to-ownership could have a big effect on MA prices, but I think it's probably a little premature to say we're off to the races. Buyers still have options in many towns, and have shown great patience and discipline with prices. A little more competition may change that, or it may not. With home affordability in Mass at excellent levels, this could be the push we need to start notching year over year gains, and leave the doldrums in the dust.  As always, we will see!

Do Good Things Today!

Matt Heisler