General Index 

Analysis of Boylston Housing Market Statistics

Boylston Housing Market Statistics - Raw Data

• There are 35 homes (vs. 27 in the last Boylston Home Sales Report) listed as Active.
• There have been 20 houses (vs. 17) sold in the last 6 months, and 15 homes (vs. 10) sold in the last 3 months.
• There was an Average Market Time of 238 days (vs. 194) for SOLD homes.
• There is an Average Market Time of 130 days for ACTIVE homes.
• There was an Average Sold Price of $298,340 for sold homes.
• Boylston has 2 properties (vs. 2) advertised as lender owned (typically foreclosure) .
• Boylston has 2 properties (vs. 2) advertised as short sales required by lender .
• Boylston “Hot Seller Index”: 73 (Mostly Neutral Market) Last Report: 65

*All statistics are for Single Family Homes.

Our Top Articles

• OH NO! Is my septic system failing and do I need a new one?
• 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 Ashland Housing Market Statistics

Ashland Housing Market Statistics - Raw Data

• There are 50  homes (vs. 46 in the last Ashland Home Sales Report) listed as Active.
• There have been 58  houses sold (vs. 46) in the last 6 months, and 40  homes (vs. 33) sold in the last 3 months.
• There was an Average Market Time of 92 days (vs. 101) for SOLD homes.
• There is an Average Market Time of 139 days for ACTIVE homes.
• There was an Average Sold Price of $399,901 (vs. 367,000) for sold homes.
• Ashland has 1 properties (vs. 0)  advertised as lender owned (typically foreclosure) .
• Ashland  has 6 properties (vs.5) advertised as short sales required by lender .
• Ashland “Hot Seller Index”: 95 (smokin' hot!)    Last Report: 90

*All statistics are for Single Family Homes.

Wondering about my Market Methodology? Read my Explanation for Massachusetts Home Data Reports.

Our Top Articles

• OH NO! Is my septic system failing and do I need a new one?
• 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.

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Matt Heisler

Hopkinton Housing Market Statistics Overview

Well, when we look at the index in Hopkinton, we see that it didn't move. So that's easy, right? No changes in Hopkinton. But when we look at the data, we some some bigger differences. First off, the number of homes for sale has dropped from 103 to 89. And the six month sales are posting a big 115 number. So why the drop? Well the drop is because the momentum of the market has slowed - the 3 month sales numbers have dropped from 79 to just 56. Ah-ha! So the market is finally cooling off in Hopkinton. Actually, it's not. The drop in sales figures are because there's very little left to buy. There are plenty of very picky buyers, but what they don't like, they aren't buying unless it's quite cheap. How do I know this?

Take a look at the Average Time on Market for solds - just 93 days. That's a number that is dropping from the August numbers in the last report. To have a fall market continue to push the time on market down is pretty unusual, and it just shows you that the right houses are getting enormous attention in Hopkinton.

There is a limit though, the average home for sale in Hopkinton is almost $200,000 above the average sales price, showing the luxury market is crowded. If we look at this sub market, we see that above 800K, there are 22 houses (30% of the market) with a average on market time of 220 days, over twice the market average of 105 days for homes under 800K. Some of that market is muddled by the new construction on Cobbler's Way, but still, you probably don't want to be above $1M in Hopkinton right now, unless you're pricing in a discount. Lots of competition, few buyers.

Under that number though, I'm seeing some over-eager activity by buyers, who are snapping up whatever comes on, and pushing prices up. Hopkinton is nowhere near as cheap as it was just 18 months ago.

Hopkinton Housing Market Statistics - Raw MLS Data

• There are 89 homes (vs. 103 in the last Hopkinton Home Sales Report) listed as For Sale.
• There have been 115 houses sold (vs. 96)  in the last 6 months, and 56 homes sold (vs. 79) in the last 3 months.
• There was an Average Market Time of 93 days (vs. 101) for just SOLD homes.
• There is an Average Market Time of 139 days of the homes For Sale.
• There was an Average Sold Price of $534,911 for sold homes.
• Hopkinton has 1 properties (vs. 1) advertised as lender owned (typically foreclosure) .
• Hopkinton has 1 properties (vs. 3) advertised as short sales required by lender .
• Hopkinton “Hot Seller Index”: 93 Last Report: 93

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

Read my Explanation for Massachusetts Home Data Reports.

Our Top Articles

• OH NO! Is my septic system failing and do I need a new one?
• 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.

Here are the final steps that you will typically go through when we close.

Setting Up a Final Walkthrough on Your New Home

Most contracts are inked with a key provision: The home must be in more or less the same condition as when the offer to purchase went through. Many times, the buyer hasn't seen the home in five weeks or more, so determining the same condition, especially with all the furniture moved out, is really more of a hunt for things that are really wrong. Typically, it makes sense to do the walkthrough as close to close as possible, and often that means the same day. This is for your protection, as well as to minimize the chance that the seller is still on the property. The more of the seller's stuff is there, the more difficult it is to inspect the property, as many sellers are cleaning up right up until the close.

Things we look for:

• Holes in Walls: Anything that was attached to the property in a "permanent" manner was actually sold when the offer was signed, unless, of course, it was specifically excluded.  Alas, not every seller is aware of the law, so we do see, from time to time, things ripped out of walls and the walls not repaired.  Although it's usually too late to get it fixed before close, we often negotiate compensation for such an item.
• Damage as a result of moving furniture
• Checking to make sure the heat and A/C still work (as appropriate)
• We'll check to make sure you have power and hot water
• A quick inspection to make sure no trees or branches have affected the yard or home if they have come down in a storm. Branches that have come down need to be removed.  
• Double check that all seller's personal items have been removed, there's been communication around trash, etc.
• Read heating oil or other gauges where appropriate.
• Any items that needed to be repaired or replaced as part of the purchase we will also examine, where possible.
• Checking that the house keys and garage remotes are in a drawer somewhere on the property.

What else is Going on as we Get Close to Closing

Now that we're at the end, much of the transaction is in the hands of the bank's attorney. He'll be:

• Working with the bank and the seller to get the HUD settlement statement correct.  The HUD Statement is a ledger of all the expenses that each party is incurring, and an accounting of all the purchase funds in one nice neat statement.  
• Making sure all the loan docs are in order
• Checking that their are no municipal or other liens on the property (this includes water and sewer bills)
• Collecting oil or gas bills that need to be paid or transferred at closing.  If the seller has oil in the tank, you'll need to "buy" it from him at close.
• Setting a time for closing. This is usually done in pencil about 5 days before close, and confirmed about 48 hours before close. 
• Calling you with the final amount to bring to closing.  Remember, you'll need a certified cashiers check for any big balances.  It's a good idea to bring a personal check in case the HUD has a minor mistake and needs to be corrected at the last minute.

The Final Steps: Loan Docs and Keys

Once the documents are ready, you'll spend about an hour reviewing, signing and initialing the largest contract you'll probably every be a part of. Can you say "wrist cramp"? Hopefully there's not a lot of fireworks at this point. Remember to bring your license or other form of ID, as you'll need to demonstrate you are who you say you are. Once it's all done, the loan docs will be sent to the registry (unless you are at the registry, at which point in time they will be filed.) After it's all recorded, the keys are yours and you can get to the real work: Moving in!

Do Good Things Today!

Analysis of Worcester Housing Market Statistics

Worcester has seen a big jump in inventory - about 20%  - since the last report, and sales have really not kept pace.  This is looking like there's going to be some more price declines in Worcester, unless the buyers start showing up a little more often, or the sellers start giving up. Buyers should find good selection, and there are lots of sellers who are looking for offers.  Sellers!  Know you local market, and position your home inside it! A bright spot, however, is the lender inventory.  Although the numbers are the same, inventory is up, so the percent of lender inventory is down by about 20%.  This could be a very good trend, if those numbers keep falling, and will lead to price stability quite quickly.

Worcester Housing Market Statistics - Raw Data

• There are 679  homes (vs. 557 in the last Worcester Home Sales Report) listed as Active.
• There have been 449  houses (vs. 426) sold in the last 6 months, and 293 homes (vs. 228) sold in the last 3 months.
• There was an Average Market Time of 152 days for SOLD homes.
• There is an Average Market Time of 175 days for ACTIVE homes.
• There was an Average Sold Price of $173,248 for sold homes.
• Worcester has 41 properties (vs. 35)  advertised as lender owned (typically foreclosure) .
• Worcester has 123 properties (vs. 123) advertised as short sales required by lender .
• Worcester “Hot Seller Index”: 69

*All statistics are for Single Family Homes.

Wondering about my Market Methodology? Read my Explanation for Massachusetts Home Data Reports.

Our Top Articles

• OH NO! Is my septic system failing and do I need a new one?
• 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.

Lead Paint Health Risks and Laws

Off the top, this article will not attempt to address the potential health risk of lead. If you are looking for more information about lead paint, you can look here: Lead Paint Info

and MA state regulations can be found here:Some State Regulations

When Home Buyers Should Test for Lead Paint

I think a difficult question for many buyers is whether to do a lead paint inspection or not on an older home. There are several barriers. One is simply cost, as a quality inspection can easily double the normal cost of inspections. The second is that it is generally assumed that if a property is a certain age, the test will be positive, and since we already know that, why test?!

Historically, the vast majority of homeowners and purchasers have chosen not to test, even when children under six live are to live in the property, or do live in the property. But I think with recent changes to MA law, the case is becoming clearer for testing. In general, I think all sellers should at least consider testing, especially if there home was built before 1950, as I think many buyers would just feel better knowing where it is. It may even make sense to do the test as many homes are lead free if they were built between 1950 and 1978 , and a compliance letter could help you secure more buyers. Certainly all buyers who are having children under 7 live in the property should test (and after you purchase you are legally required to test), both for safety and for risk reduction in future expenses, as the state requires that you bring the home in compliance.

Lead Paint is a Complex Problem, Information is Power

Today, I think the goal is more complex than just determining IF the property has lead. It's understanding where the lead is, and how much lead you have both inside and outside the property. A test is the first step in abatement and/or a compliance letter, and I think compliance letters will have more weight in improving resale of these properties going forward. Certainly, any investment property with a compliance letter would be worth more to me as an investor than a similar property with a significant amount of lead paint.

If your goal is to have a lead free home, a home with a significant lead problem may not be for you, as renovating a home solely to remove lead is usually not an equity builder of itself. (That's not to say that removing 60 year old windows and upgrading to a modern energy efficient lead free window won't build equity, it will! This is both a lead reducer and an infrastructure upgrade).

Lead Paint Laws are Getting Tougher, not Easier

Bottom line, lead testing is probably more important than ever, and simply must be done before any renovation work can be done on the home (and most older homes need some renovations), so, although expensive, it can be a good way to gauge the future expense that you'll be incurring going forward. And that is a key aspect of any successful home purchase.

Also, if you want to check if the state has a record of a lead paint test, you can check here:

Matt

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

Recently, in one of my transactions, we discovered arsenic in the well water.  Arsenic is a toxin, meaning it is not very good for you, and in municipal water systems it is generally tested for.  But if you buy a home with a well, you need to do the testing yourself as part of your inspection, and generally, this test is NOT included in a standard well water quality inspection.  (Neither is radon).  Both arsenic and radon are more expensive tests, but as they both present health concerns, should be tested for by every buyer of well water.

Some general facts are about arsenic:

Cost of Water Treatment Systems for Arsenic

Analysis of Westborough Housing Market Statistics

Westborough , Massachusetts

Analysis of Grafton Housing Market Statistics

Grafton has seen a nice uptick in sales which has improved the market for sellers.  With 15 homes at least selling by the next report, we could be seeing a much stronger market for sellers going forward.  Most of the data in this months report is unchanged- but the sales figures are up significantly across the board.  Market time is still showing that there's too much inventory here, but if the listings slow down, we'll see a neutral market pretty quickly.  Buyers should be aware that the nicest properties do have competition, but there are still some good properties that are being passed over by the overly picky (or frugal!).  Sellers should be aware that the improvement doesn't guarantee their home will sell, but priced right and staged properly it will attract attention. Lastly worth noting is that of the 11 short-sales, 7 have accepted offers, so the lender impact inventory is showing improvement. This report is dedicated to A.A., who requested a Grafton update this week.  Thanks for reading A.A!

Show Me Grafton, MA Homes for Sale

Grafton Housing Market Statistics - Raw Data

• There are 128  homes (vs. 125 in the last home sales report for Grafton) listed as For Sale.
• There have been 89 houses (vs. 69) sold in the last 6 months, and 66 homes (vs 43) sold in the last 3 months.
• There was an Average Market Time of 183 days for just SOLD homes.
• There is an Average Market Time of 233 days of the homes For Sale.
• There was an Average Sold Price of $351,933 for sold homes.
• Grafton has 2 properties (vs. 3)  advertised as lender owned (typically foreclosure) .
• Grafton has 11 properties (no change) advertised as short sales required by lender .
• Grafton “Hot Seller Index”: 70    Last Report: 62

*All statistics are for Single Family Homes.

Wondering about my Market Methodology? Read my Explanation for Massachusetts Home Data Reports.

Our Top Articles

• OH NO! Is my septic system failing and do I need a new one?
• 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?

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.