Massachusetts & Southern NH Real Estate Industry News

Welcome to our blog! The purpose of this real estate blog is to provide some tips for staging your house, simple easy updates, what to do in the areas, all for you to enjoy. We plan to publish this blog monthly, so please subscribe or check back often!

Jan. 21, 2022

Biggest Moving Mistakes and How To Avoid Them

 

 

While finding the perfect home is an exciting milestone in life, the actual act of moving might not be met with as much positivity. Moving can be stressful as you say goodbye to your old home and work tirelessly to pack up the life that you built there. Since there is so much that goes on during the moving process, there are many opportunities to make mistakes. That’s why we put together some of the most common moving mistakes that we come across and our suggestions on how to avoid them.

Not Hiring a Reputable Moving Company

Hiring the right moving company can make or break your moving experience. You’re trusting others to take care of your most personal and prized possessions. With something this important, you don’t want to wait until the last minute to select a moving company. It’s a common move to put off selecting a reputable company and end up feeling unsupported and stressed on your moving day.

Don’t fall for this mistake! Start your search early and ask questions! Talk to a variety of companies to see who is the best fit for you. Additionally, you should look for certifications that signify top-notch service and gather information about the services that are important to you.

Not Comparing Moving Estimates

After you found a few reputable companies, you should ask for and compare estimates! Moving companies will either perform an in-home estimate to give you a quote or provide you with one online. If you skip this step, you may end up paying more than you should when you make the move. 

Not Asking the Right Questions

Asking questions sounds great, but what exactly should you be asking? There’s a lot to clarify with your moving company about their services and the overall process that will help you get prepared for your move. One suggestion to help you navigate through this is to separate your questions into two categories. Begin with questions that will help you get to know the company themselves and then shift to questions that will focus on finding the right service for your move. Some questions include:

  • How many years have you been in business?
  • Do you have references for your service?
  • Is your moving company licensed, bonded, and insured?
  • How do you determine the cost of the move?
  • Is this a binding or non-binding estimate?
  • Are there any extra fees I should know about?
  • Do you offer packaging services?

The updater has even more questions that you can use in one of their articles, which you can find here

Not Consolidating Your Home Before Moving Day

One of the most common mistakes is overpacking for the move to your new home. This is harmful for two key reasons. First, it adds to the cost of moving, and second, it creates additional work when it comes to packing and unpacking.

Take this time as an opportunity to declutter and sort through your belongings to ensure that you’re only taking the things that you need and want with you to your new home. Make separate piles for items that can be sold, donated, and thrown away. 

Not Measuring and Planning Accordingly

One thing you will want to consider doing is measuring your new home to ensure that all of your furniture will be able to fit. That last thing that you’ll want on your moving day is to find out that your sofa doesn’t fit in the new space - or even through the door for that matter!

Talk to your real estate agent about your options for getting into your new home ahead of the move and taking measurements. They will be able to work with the seller to determine if there is a day and time that they would be open to you coming in to get that done ahead of the final walkthrough. Your future self will thank you!

Waiting Too Long To Start the Move

When you’re faced with the task of making a big move, it’s often difficult to determine where to get started. You may want to put it off, which can lead to additional stress once that moving day arrives and can lead to items getting overlooked.

To help you get started, create a moving checklist for yourself. This will help you organize sensitive tasks, get ahead on your responsibilities and must-do items, and keep everything organized. 

Not Labeling Moving Boxes

One mistake that is extremely easy to avoid is not labeling your moving boxes. This small misstep can result in hours of digging through boxes to find the items that you need while you’re packing and unpacking. Help your future self out by using colored packing tape to designate each room and put a label on the box that lets you know what items are inside.

Additionally, one other big mistake is not packing a bag of the necessities. You won't be able to unpack all of your belongings in one night so help yourself out by packing a separate bag of all of your necessary items, including a toothbrush, toothpaste, glasses, other toiletries, prescriptions, chargers, keys, and a change of clothes. Additionally, be sure that you know where your bedding is packed away, which will be easy if you follow the tips we mentioned above! 

Waiting Too Long to Forward Mail and Transfer Utilities

Forwarding your mail and transferring your utilities may not always be top of mind when you’re getting ready to move. However, this is an important step to start thinking about early. To ensure that you don’t end up in a situation where your mail gets lost in transit, begin the process of forwarding your mail a few weeks before your move. Fill out a change of address form and indicate your moving date and that you’re permanently moving to the stated address. It’s always a good idea to speak to a representative at your local post office to determine what other steps you’ll need to take to ensure a smooth transition.

As far as utilities go, have a conversation with your provider and let them know your moving date. You can plan your termination date on your current address to coincide with the last day in your new home and start the service on move-in day. This way, you can ensure you won't be left in the dark when you finally move into your new place!

Bottom Line

We know that moving can be stressful! There are a lot of things happening at the same time, and it can be easy to push off thinking about it until moving day arrives. However, with a little preparation and research, you can ensure that your moving day runs smoothly. You may even be surprised how not stressful the experience is due to you taking the time to plan ahead. Moving can signify a fresh start and a chance to make your new space exactly what you want it to be. If you’re ready to take on the moving process, give us a call today and we can start searching for your next home sweet home.

 

Jan. 21, 2022

Our Favorite Winter Dining Experiences in MA & NH

 

 

One of the benefits of winter in New England is the unique dining experiences that the chilly evenings provide us with. From personal igloos to ski-themed fun, there are so many restaurants across Massachusetts and New Hampshire that you’ll want to check out this winter season!

 

Our Winter Dining Picks

Après Skate Bar at Time Out Market Boston

Who doesn’t love some yummy food while you enjoy a night out at the ice rink? Located next to the skating rink at Time Out Market Boston, this bar will operate through March 6th and is open Friday through Sunday. In addition to hot drinks with and without alcohol, the skate bar also offers local beers and tasty snacks such as soft pretzels and Liege waffles from Eastern Standard Provisions Co.

The Lodge at Publico Street Bistro 

Enjoy the cozy atmosphere of a ski lodge without having to make the trip up to the mountains! The Lodge at Publico Street Bistro is a ski-themed dining experience you won’t want to miss. This South Boston restaurant is continuing its tradition of turning its interior courtyard into a ski-lodge-inspired space that is will be operating through the end of March and is open Thursday-Sunday. The space is complete with flannel blankets, fire pits, heated lounge areas, and artificial snow to set the mood! Additionally, you can enjoy a menu of lodge-inspired snacks and drinks, including a Shot-Ski and other hot beverages.

Tambo 22

Enjoy dining in your own private igloo in this Chelsea, MA restaurant! This dining experience will allow you to enjoy the ambiance of the outdoors while keeping you warm and cozy while you enjoy a delicious meal. This is a perfect experience to enjoy for a large gathering or an intimate date night!

Season to Taste 

Enjoy a delicious meal on your own private outdoor cabana-style table at this fantastic restaurant located in Cambridge, MA! The table is heated and is partially enclosed, allowing you to still get some fresh air during your meal! Additionally, the menu is ever-changing and highlights local sourcing. It’s sure to be a dining experience that you won’t soon forget!

 Lock 50

If you’re in the Worcester, MA area and are looking for a unique dining experience, Lock 50 is another great option for you! This restaurant also offers private igloos, perfect for a fun night out! The igloos are first-come-first-serve for walk-ups. If you’d like to make a reservation specifically for igloo dining, be sure to call the restaurant as they cannot process the request through their online reservation platform. There is also a non-refundable deposit required, so be sure to keep that in mind when you book!

Bedford Village Inn & Restaurant

This quaint inn is another perfect location for a memorable dining experience! Located in Bedford, NH, this igloo dining experience offers you a picturesque setting and cozy interior features including a personal heater for warmth and cozy couches. The igloos do come with a fee for both lunch and dinner, so you’ll want to consider that when you go to reserve your spot! 

603 Igloo Experience 

If you’re looking for a fun night out, be sure to check out the 603 Igloo experience located in Londonderry, NH. Each igloo experience features seating for up to 8 people, multiple heaters, LED lights & chandeliers, card games, and beer bucket special exclusives. As a bonus, your beloved pups can also join in on the fun inside these igloos!

Bottom Line

Winter is a fantastic time to explore some new dining options around Massachusetts and New Hampshire. From fun themes to cozy interiors, there is something new for everyone to enjoy! Let us know what your favorite winter dining location is in the comments below!

Posted in Community
Jan. 18, 2022

January 2022 Housing Market Update

 

 

We’re back with another housing market update for Massachusetts and New Hampshire. Today we’re diving into the current state of the market as we finish up the first few weeks of 2022 and what the current conditions mean for anyone looking to buy or sell. Let’s dive in!

 

What’s Going on With Inventory?

When this market update was filmed back in 2021, one of the main talking points was about the inventory levels or the number of homes sitting on the market. At that time, the levels were at historic lows. Interestingly enough, now in 2022, the levels have gotten even lower. 

 

One of the things that we talk about in the industry is that a balanced housing market has about six months of inventory available on the market. This means that at any given time, there are enough homes to keep up with six months of buyer demand. As of last week, in the state of Massachusetts and New Hampshire, inventory levels were only at about two weeks of supply. What this means is that if there was not another home listed for sale, there would only be enough available homes to keep up with buyer demand for two weeks. Last year at this time, inventory levels were at about three weeks of supply. While it doesn’t seem like a major drop, that difference in supply is creating even stronger buyer demand in today’s market. 

 

The Latest on Home Prices

The demand that we’re seeing today is having an interesting impact on the prices of homes. When we look at pricing for single-family homes, we see that it’s gone up year-over-year. The average list price of homes 12 months ago was $632,000. Today, we’re seeing the average list price sit at about $680,000, which is just slightly under a 10% increase. 

 

What does this mean for anyone looking to buy or sell a home? For sellers, it means that you’ve probably seen an increase in equity, most likely averaging around 5-6% in just the past year. For buyers, while your monthly payment may go up a bit due to the increase in the purchase price, it’s not going up by the same percentage as the sales price. 

 

What Are The Trends Year-To-Date

We know what you’re thinking, it’s only a few weeks into the year! Is it too soon to look at trends? How many homes could have really sold? It’s actually quite a bit more than you might think.

 

When we average both Massachusetts and New Hampshire, at about this time last year we had sold around 1500 homes. When we average both year to date, we’re sitting at just over 1100 homes sold. The really interesting thing is happening with those sales that have closed. Last year the average price of the homes that were sold year to date was $591,000. So far into 2022, the average price of the homes sold is $676,000. One other interesting fact when looking into the data is that last year the homes that were closing were closing just at list price. On average, homes weren’t selling above list price during this time period in 2021. However, for 2022, we are seeing a slight increase above the list price - just around 1%. The average list price was $671,000 with an average sales price of $676,000. 

 

Bottom Line

Overall, we predict that it’s going to shape up to be another exceptionally strong market for sellers. Over the year, we predict that appreciation will remain about the same in the 5-8% range. Additionally, buyer demand continues to be strong, and supply is not able to keep up. In fact, every property that we listed this week had multiple offers. We also know that our buyers who were writing offers were also facing multiple offer situations. While this is obviously great for sellers, it’s not necessarily bad for buyers as long as they understand what it’s going to take to be successful in this market. If you have any questions about what this could mean for you whether you're buying, selling, or investing in either Massachusetts or New Hampshire reach out to us one of our agents would love to help guide you through the process!

 

 

Jan. 16, 2022

6 Reasons Why Now is the Right Time to Sell

 

 

We’ve talked about it before, however, with buyer competition continuing to build, there’s no time like the present to make your move if you’ve been considering selling. I know what you’re thinking - I’ll just wait for the typical peak that occurs in the spring. Historically, this buying peak has occurred in the warmer months, with 40% of homes sales occurring between April and July, according to keeping current matters.

 

However, this year we’re seeing different trends and as a result, the historical peak season is expected to be much different than what we’re used to. Today, we’re discussing five reasons that you should list your home now rather than waiting until the spring.

1. There are Many Eager Buyers Looking Right Now

The cold weather isn’t stopping serious buyers from trying to find their dream home this year. According to the latest index from ShowingTime Showing Index, which covers November showing, buyers are still very active in this winter market. The Showing Index measures the traffic per residential property for sale. A higher number means that an average home receives more buyer visits in a given month. From November 2020, the showing index increased 12.5%. When you compare the current index to what we saw in earlier years, however, the increase is even more drastic. This is demonstrated in the below graph from Keeping Current Matters. 

 

 

Additionally, the buyers that are currently out there competing for homes are serious and dedicated to their home purchase. During this time of year, you’re less likely to run into any casual searchers who will not make the best use of your time. 

 

2. You’ll Be A Step Ahead of the Competition

The current market conditions allow you a seller to get the most for your home on the terms that you are looking for. This is due to the amount of demand and lacking supply. According to the Weekly Real Estate Monitor from the National Association of Realtors new contract signings fell 5.7% this past week, however, new listings fell 10.1% compared to this time last year. This demonstrates that demand is still outpacing supply, putting you in a strong position if you’re looking to sell. However, to fully capitalize on these ideal conditions, you’ll need to list your house while there’s still a strong demand and less competition. 

 

A recent study by realtor.com reveals that among homeowners who indicated that they plan to sell in 2022, 65% expected to list their home within six months, 19% of which had already listed their property. Additionally, compared to the spring, more of today’s prospective sellers (93%) have already taken steps towards listing their home, including working with an agent.

 

What this means is that there are many other sellers who are gearing up to sell their homes and will likely be making plans to hit the market soon. By putting your home up for sale now, you’ll be able to get ahead of the competition and ensure that the laws of supply and demand remain in your favor.  

 

3. New Construction Will Bring Additional Spring Competition

One of the players in the inventory issues that we’re facing is the lack of new single-family housing units. That’s largely due to labor shortages and supply chain bottlenecks brought on by the pandemic. In fact, there were 979,000 single-family building permits authorized according to the United States Census, that have yet to be built due to these issues. However, these homes will be completed in the coming year. 

 

How does this impact you? If you’re thinking about selling your home, then these properties are your competition. By beating these new construction homes to the market, you’re ensuring that your home gets the most amount of traffic and attention.

 

4. Make Your Move Before Prices Increase

While you may be focused on selling your home, there are additional considerations to keep in mind if you plan on moving into a more expensive home. Prices are projected to appreciate by about 5.1% as we move through 2022. Additionally, mortgage rates are predicted to follow suit and increase throughout the year. As a result, it will cost you more to purchase if you wait until later in the year. 

 

5. Utilize the Winter Elements to Make Your Home Feel Warm and Inviting

One benefit of selling your home in the winter is being able to showcase your home as a warm and welcoming place in contrast to the cold weather that is outside. You can accentuate your home with winter greenery and warm lights. Turning up the heat and clearing off your sidewalks and driveways will allow your buyers to feel welcome. If you have any energy-efficient features, this is also the time where you can show them off! These can include smart thermostats, solar panels, quality window treatments, energy-efficient dual-pane windows, new attic insulation, a newer HVAC system, etc - anything that will help reduce that heating bill on those cold winter days!

 

6. Now Might Be The Right Time to Make a Change

The needs of “home” have drastically changed over the past few years. As a result, there’s a good chance that your home might not check all the boxes that you need them to. Whether your career has moved fully remote, allowing you to make a move to a location that you’ve always wanted to live in or you have outgrown your current space and need more options for a home office, there’s no reason why you need to remain in a space that no longer serves you. Now is the perfect time to re-evaluate what you’re looking for in a home and make the move to have the space that is everything that you need it to be. 

 

Bottom Line

While there are always certain perks to selling your home in the winter months, this year there are even more reasons why now is the right time to sell! If you’ve been considering putting your home up for sale, now is a great time to take advantage of the market conditions by getting ahead of the competition. Additionally, whether you’re looking to upsize or downsize, you’ll be able to take advantage of the equity that you’ve built up in your home and start focusing on purchasing a new home that better suits your needs before prices and interest rates climb.

Posted in Selling Your Home
Jan. 12, 2022

A Look At Rentals in 2022

 

 

With the winter housing market still being as competitive as it is today, it may be tempting to forgo purchasing and sign a lease for another year. However, while renting may seem like a simple solution, there are important factors to keep in mind such as what the experts are predicting the true cost of renting will be in 2022.

Let’s Take a Look Back at 2021

To help us better understand the rental situation that we’re facing today, let’s take a look back at the trends that we saw the past year. According to ApartmentList.com, the national median rent increased by 17.8% over the course of 2021. For context, the annual rent growth averaged just 2.3% in the pre-pandemic years from 2017-2019. Although the early stages of the pandemic led to a slight decline in rents throughout 2020 (01.6%), the growth of 2021 made up for any lost ground. Additionally, the national median rent is now $1,309, which is $119 greater than what the experts would have projected if rent growth since the beginning of the pandemic would have been in line with the growth rates of 2018 and 1019. 

 

2022 Projections

With the massive rent increase that we saw in 2021, you might be wondering if 2022 is predicted to tell a similar story. According to the 2022 National Housing Forecast from realtor..com, rents are expected to continue to grow throughout the year. Experts at realtor..com forecast rent growth of 7.1% in the next 12 months, which is somewhat ahead of home price growth. This growth can be attributed to a couple of factors. First, Realtor.com indicates that there may be hiring demand for those who moved to live with their families during the pandemic and now wish to live alone again. On the supply side, Realtor.com points out that in addition to material shortages and higher labor costs, hampering construction on new rental homes, the termination of eviction protection laws may give landlords a chance to recoup their losses that they experienced earlier in the pandemic by raising prices. Alternatively, they could choose to sell their rental home and exit the rental business. This may be good for homebuyers, but would further reduce the supply of homes available for renters. 

 

This means that if you decide to move into a different rental in 2022, you are likely going to pay more than you have in the past years. 

 

How to Forego the Rental Trap

Unlike when you own a home, there is no financial benefit of paying your landlord your monthly living expenses. The money you pay for rent goes directly into your landlord’s pockets, giving you no opportunity to build equity. By continuing to rent in 2022, you’re signing yourself up to pay more for no financial gain. Alternatively, you could consider making the job to become a homeowner. One of the many benefits of owning a home is a stable monthly cost that you get to lock in for the duration of your home. While your home appreciates, you can take comfort in knowing that your monthly cost will remain fixed and you won’t have to adjust your budget to account for annual increases. This isn’t the case for those who rent.


Additionally, by owning, you’ll be paying into your own wealth. When you own, you can look at paying your mortgage as forced savings that turn into home equity. You’re not losing money by paying a mortgage, in fact, you’re investing it into something that is sure to build over the years. According to the Homeowner Equity Insight report from CoreLogic, the average homeowner gained $56,700 in equity over the last 12 months. So, when you think about how much it costs to rent vs own, it's important to keep equity in the equation. 

 

Bottom Line

While home prices are rising, rents are also increasing. If you’re thinking about signing up for a lease for another year, it’s important to consider what you might be paying. Additionally, it’s important to consider what you’re missing out on by paying rent vs a mortgage. It’s not just the direct out-of-pocket costs, but also the amount of equity you might be missing out on that’s important to keep in mind. It may seem easier to hold off on purchasing and opt to rent for another year, but in reality, you may be paying more and missing out on a huge opportunity. If you’re on the fence, talk to a trusted real estate agent about what you’re comfortable with paying monthly for your rent, and what that could translate into in terms of purchasing a home. You may be surprised to learn that owning a home is more doable than you think.

Jan. 6, 2022

Must-Do Winter Activities Throughout New England

 

 

Just because the holiday season is over doesn’t mean that the winter fun has to stop! New England is home to a number of activities that are sure to keep you and your family entertained all the way through spring. Additionally, many of these activities take place outdoors, allowing you to maintain physical distancing to stay safe throughout the season. Today, we’re highlighting some must-dos across New England to try out this winter!

 

Our Top Picks for Winter Fun

Visit Ice Castles - North Woodstock, NH
Opening mid-January, this fun, frozen winter fun is so much more than just some carved ice! Venture through the amazing ice-sculpture castle, race down ice slides, stroll along an illuminated winter forest, snow tube down groomed pathways, explore ice tunnels, or take a sleigh ride! This is a perfect winter tradition to start up that everyone is sure to love. 

 

Ski or Snowboard - Loon Mountain Resort - Lincoln, NH

New England is home to a multitude of fantastic ski resorts. While there are a number of fantastic ski areas to choose from, Loon Mountain Resort is one of our favorites! Located in Lincoln, NH, Loon Mountain boasts a variety of trails for all levels of skiers and boarders. Additionally, Loon Mountain Resort just recently opened its newest lift, the Kancamagus 8 chairlift, featuring heated seats, a weather-blocking tinted bubble, footrests, and adjustable loading carpets so that all levels can enjoy this lift upgrade! 

 

Go Tubing - Ski Butternut - Great Barrington, MA 

With up to 11 lanes of tubing, Ski Butternut is well known to be one of the best tubing locations in New England! This is a great option if you or your family members aren’t quite up for tackling skiing or snowboarding, but still want to have fun in the winter elements! With hundreds of tubes available and a magic carpet to make getting to the top of the hill a breeze, Ski Butternut makes it easy to have a day filled with winter fun. 

 

Cross-Country Skiing - Bretton Woods, NH

Bretton Woods Nordic Center is one of the largest cross-country ski areas on the East Coast. Additionally, the trails are located across from the beautiful, historic Mt. Washington Resort and the White Mountain National Forest. You’ll enjoy groomed trails and warming cabins, making your outdoor adventure that much more fun!

 

Take a Maple Tour - Ben’s Sugar Shack - Temple, NH

Who doesn’t love the taste of pure maple syrup? Now is your chance to see firsthand how this delicious product is made! Ben’s Sugar Shack offers free maple tours every weekend where they show guests how the sap is collected, both traditionally with buckets and the modern way by using plastic lines. The best part? Samples are provided to you in their heated tent! Additionally, there are other maple goodies available for sale after you finish your tour.

 

Enjoy a Winter Wonderland Getaway - The Lodge at Spruce Peak - Stowe, VT

Escape to a winter wonderland at Spruce Peak. This resort features a number of amenities for the whole family to enjoy, perfect for a weekend getaway! From an ice skating rink to guided snowshoe hikes to a full-service spa, there are so many options for everyone to enjoy. There are also a number of restaurants and entertainment around the resort, so be sure to take a look at the events calendar when you go to book your stay!

 

Bottom Line

Fun in New England doesn’t stop when the temperature drops! There is so much to do in New England during the winter months that will help you shake off those winter blues. Whether you prefer to cozy up in ski lodge up in the mountains, get in on the action by skiing, snowboarding, or tubing, or prefer to enjoy the sweet flavors of winter through a maple tour, there are options available for everyone! Let us know what your favorite winter activity is! Enjoy!

Posted in Community
Jan. 4, 2022

Supply and Demand: Where Do We Stand Today?

 

 

The days surrounding the holidays are always an interesting time. The kids are home from school, you may be traveling to see relatives, and you may be out of the office for the week. So, what is happening with the housing market during this time period?

 

Today we’re taking a look at what we’re currently seeing in terms of supply and demand trends and what that means for you as a homebuyer.

 

What We’re Seeing for Supply

If you’ve been house hunting the past few weeks, we know that finding those homes that meet your criteria may have been a challenge. While winter months typically result in a slow in buyer activity, inventory continues to be a challenge as we start off 2022. The inventory levels are still outmatched by the number of eager buyers currently in the market. According to a report released by Redfin, new listings dropped to their lowest point since January in the four weeks leading up to December 26th. Active listings were down 26.1% year over year and were down 44.8% from 2019, according to the report. During this time, the median home sale price also rose 14.6% to a new high of $361,171.

 

What We’re Seeing for Demand

While pending sales also dropped to their lowest point since January, according to the Redfin report, this was likely due to the holiday season. Redfin Deputy Chief Economist Taylor Marr explains that the holiday effect of both homebuyers and sellers diverting their attention to holiday festivities and traveling resulted in a slowdown. This year, Marr points out that this shift was even more extreme than the pre-pandemic Christmas week of 2019. This temporary drop in activity is a consequence of this holiday time period rather than homebuyer demand backing off. 

 

In fact, the buyer demand remains strong, with homes averaging just 26 days on market, down 33 days from 2020 and down 50 days from 2019. Additionally, the number of homes that had an accepted offer within one week of hitting the market was up 25.3% compared to last year and up 15.8% from 2019. 

 

What This Means For You

With a dip in inventory levels around the holidays, it may seem a bit more challenging to locate that perfect home. However, don’t get discouraged! Now is the time to make a plan with your trusted agent on how to seek out new opportunities, such as off-market listings, and understand your priorities. 

 

As the year continues, more options will continue to become available to you. This will be in part due to an increase in new construction availability. However, as time passes, mortgage rates and prices will increase, becoming the main concern with putting off your home search until later this year. Redfin’s Chief Economist, Daryl Fairweather, explains that:

“With more sellers expected to enter the market as buyer competition remains fierce, we anticipate strong home sales growth. Affordability will increasingly be a challenge as interest rates and prices rise, but remote work may expand search areas and enable younger buyers to find their first homes sooner than they might have otherwise.”

 

If you’re trying to beat the crowd, and the interest rates, don’t give up on finding that dream home! Work with your trusted real estate advisor to come up with a strategy to help you stand out from the competition and find those new listings as soon as, or even before, they hit the market. Additionally, experts predict home prices are predicted to appreciate by an average of 5.1% through 2022, meaning that by purchasing today, you have a fantastic chance to build up equity through the next year. There is opportunity out there, just remember to stay patient and keep persevering.

 

Bottom Line

Buyer demand is still strong, and with a dip in inventory, we know that it can get discouraging house hunting during these winter months. While we understand that it’s not easy, persevering now can result in you finding that dream home before those interest rates and prices climb. While it may become easier to find a home later in the year, by working with a trusted real estate agent now to refine your home search strategies, you may be able to locate that dream home sooner than you think. Now is the time to talk to your agent about the tools that they have available to help you get an edge on the competition, and get into that home before those spring flowers start to bloom.

Posted in Buying a Home
Jan. 3, 2022

Should You Sell This Winter?

 

 

With the holiday season in the rearview mirror, you might be wondering when is the right time to put your house on the market. While spring seems to be the default, by making the jump today, you can position yourself to be ahead of the competition that puts their for sale sign up when the trees start to bud. 

Now is a great time to sell your home, and today we’re taking a closer look at the reasons why!

Sellers Are Still Well Positioned In This Market

While it may seem that things aren’t quite as competitive as they were a few months ago, inventory is still far too low for the market to be considered balanced. According to Existing Home Sales Report by the National Association of Realtors (NAR), the inventory of homes for sale in the month of November sat at a 2.1-month supply. 

Typically, a 6-month supply of homes for sale is what is needed for a normal, balanced market. This level typically means that there are sufficient homes available on the market to accommodate the number of active buyers. Anything below that indicates that we are in a sellers’ market and that home prices will appreciate due to the lack of supply and increased demand. The graph below from Keeping Current Matters depicts the impact of supply on the housing market.


The Impact of Today’s Market Conditions

So, what does this demand means for you? These conditions are certainly favorable, and while we don’t think they will drastically change in the spring, there are certain benefits to taking advantage of the market now!

  • Your home will be the center of attention. This winter, there are still many buyers who are continuing their home search and are eager to find their dream home as soon as possible. While other sellers may be waiting to sell until the spring, putting your home up for sale now will allow your home to get more attention from serious buyers who aren’t wanting to wait versus having your home in the mix with the spring wave. 
  • Your home is likely to get multiple offers. With demand still being as high as it is, you’re likely to get more than one offer on your home. According to the latest Realtors Confidence Index from the National Association of Realtors (NAR), on average, sellers are getting 3.6 offers on their homes in today’s market. 
  • Your home is likely to sell fast! According to the same report by NAR, homes are selling, on average, in 18 days. 

These conditions also mean that you’ve likely built up a good amount of equity if you’ve owned it over the past year. Corelogic reports that in the third quarter of 2021, the average homeowner gained approximately $56,700 in equity during the past year nationwide. This report also indicates that in NH, that equity was actually about $59k, and in MA, it was about $67k. Now is a great time to cash in on the equity that you’ve built up and put those funds on achieving your dreams, whether that's a new home or opening your own business, the options are endless!

 

Why Wait? Your Opportunity Is Here Now!

Today's conditions are fantastic if you are looking to sell your home! With the supply of homes for sale as low as they are today, you are positioned to get the most for your home on the terms that you’re most comfortable with. 

While these conditions won’t change quickly, anyone looking to sell should jump on the opportunity now before other sellers enter the market. Selling sooner rather than later will give you a let up on the competition, allowing your home to get the most traffic and attention. 

Bottom Line

While it may be tempting to put off selling until the spring when the weather starts getting warmer and we enter the start of the traditional “peak” real estate market, the current market conditions are extremely favorable for anyone thinking of selling. There are many eager buyers that are looking for a home and don’t want to wait until the spring. Plus, you’ll stand out from the other sellers who will all be putting their homes up for sale at the same time. If you want to take advantage of these phenomenal market conditions as a seller, then there is no time like the present! Connect with your trusted real estate agent to discuss these benefits and to determine how you can best benefit from these current conditions. 

Dec. 28, 2021

More Than Just a House - The New Meaning of Homeownership

 

 

While there are certainly many financial benefits to owning a house, one thing that should also be considered when embarking on your home search is the emotional aspects of homeownership. This has been particularly true as we continue to live in a time where our needs are changing and who we are and what we value most is evolving. Because of this, homeownership has taken on a new meaning for many of us. 

 

Today, we’re taking a look at what truly makes a house a home and some of the important non-financial benefits of owning a home. 

 

Why Owning a Home Means So Much More Than A Financial Investment

It’s true that purchasing a home is one of the best financial investments you can make to grow your net worth. However, beyond the finances, you’ll find that owning a home provides you with feelings of security, pride, and comfort. Here are some of the reasons why owning a home means so much to us:

 

It’s a huge accomplishment! Achieving the dream of owning a home is something that should be celebrated! If you’re a first-time homeowner, you should absolutely take pride in achieving such a major milestone in life. If you’re a tenth-time homeowner, you should celebrate the change and congratulate yourself on making it to that closing table. In all cases, getting handed those keys is a moment that should be cherished.

 

There’s no place like home - This holds to be particularly true over the past couple of years. Your home should be your safe haven, your oasis, your personal getaway where you can relax and unwind. With all of the uncertainly and stress that we come across on a daily basis, your home is a place where you can recharge and feel at ease.

 

You can make your space work for your specific needs - Life is all about change, and it’s important to have a space that can adapt. Your home works for you, so if that means converting an extra bedroom into an office or a personal gym, go for it! If you want to create in creating an outdoor paradise for entertaining, have at it! Your home is yours to invest in and to form into a space that works for your continuously evolving needs. 

 

You can update your home to match your unique style - The sky is the limit when it comes to designing your home to match your own unique style. You have the freedom to paint the walls any color you’d like, upgrade your kitchen with those cabinets you’ve always wanted, and renovate the bathroom into the spa of your dreams. You have the freedom to make your home truly yours. 

 

Home is Not Just Where The Heart Is

Our home has become much more than a place to rest our heads at night. During the pandemic, the home has evolved to be so much more..it’s become our office, our school, our gym, and our vacation spot. As the world around us changed, so did our needs for our home. Many took the time to make those renovations and turn their homes into their new office or weekend getaway because it became our safe place that protected us all on a new level. 

 

According to the 2021 Sate of the Ameircan Homeowner report by Unison, pre-pandemic just 58% of homeowners felt emotionally attached to their home. Now, 70% of homeowners feel that emotional connection. Additionally, JD Esajian, President of CT HOMES, LLC, stated that most individuals fail to realize that homeownership can benefit your mental health and the community around you. 

 

As we continue to live in a time of uncertainty, owning a home can provide you with the security and stability that is so beneficial in a time like this. Unison reported that 83% of homeowners say that their home has kept them safe during the COVID-19 pandemic. A home is more than four walls and a roof, it’s a place where your family can be protected, can come together, and can escape the outside world for a while. It can become everything that you need it to be for the time that you are living in.

 

Bottom Line

Homeownership is so much more than a financial investment. As the past few years have taught us, it can become our safe haven from the stress and uncertainty of the outside world. It can become your personal oasis that can evolve to meet the changing needs of the world we live in today. Here at Chinatti, this is why we do what we do. We want you to achieve that dream of homeownership so that you can enjoy these benefits and have a space that you and your family thrive in day in and day out. If we can help you in any sort of way achieve that, whether it’s to start the home search entirely or to recommend vendors to help turn your house into the home that you need it to be, please reach out. We’d be honored to help.

Posted in Buying a Home
Dec. 27, 2021

5 Tips to Build Your Real Estate Business This New Year

 

 

With a new year comes new resolutions. For real estate agents, this is the time to evaluate your business and determine your goals for the new year. That bodes the question, what will you do to reach those goals?


Today we’re sharing 5 ways you can improve your business and achieve the success you’re looking for in 2022. 


Create a Morning Routine

If you don’t already have a morning routine in place, starting one can make a big difference in your productivity for the day. While it might be tempting to get those extra minutes of sleep and save just enough time to shower, dress, and grab your coffee on the way out the door, taking the time to prepare yourself for the day will likely do more good than pressing snooze a few more times.


Take some time to develop a morning routine that will keep you organized and energized for the rest of the day. Your routine can be whatever you need it to be, whether it’s hitting the gym or taking some time to journal before the day gets too busy. It may even be reading a book or meditating…whatever you need to get your day started on the right foot. 


Make More Videos

One takeaway from 2021 has been that videos are truly the way to connect with your audience. With many feeling more comfortable doing everything virtually, video has stepped up to be more meaningful than ever. If you haven’t already dived into this trend, 2022 is the time to get started. Keep in mind that your videos don’t have to be movie quality. Your viewers will appreciate authentic videos that showcase not only your expertise but who you are as a person. Be authentic in all of your videos, whether it’s a weekly market update or buyer/seller tips, show your audience why they’ll love working with you!


According to Keeping Current Matters, 85% of buyers and sellers want to work with an agent who uses video. So, take out that smartphone and start sharing with your audience. 


Have a Presence on Social

Social media is the way that we connect with each other and it’s also where we source many of our recommendations. How many times have you either asked for recommendations on your social platforms or browsed your feed to see if you knew anyone with expertise in a given field?


By posting daily on social media, you’re not only establishing your brand, but you’re also letting everyone you’ve connected with that you’re an expert in your market. These posts can be anything from videos to pictures, to visually captivating graphics! Take some time to really understand your brand, and focus on what platforms will let that shine! If you’re a fan of making fun, light-hearted video content, then TikTok or Facebook/Instagram Reels might be right for you. If you’re into creating graphics and showcasing your career through photos, then work on sharing that through platforms like Facebook and Instagram. Tools like Canva can help you create attention-grabbing graphics and videos that you can easily share on Facebook, Instagram, and LinkedIn. 


Start Calling

While branding will help you establish yourself as an expert in the industry, to really build up a pipeline, you need to devote time to picking up the phone and dialing. Who you call is up to you! It can be connecting with your sphere of influence to checking in with older leads that put the home search on hold. By taking the time to have personal conversations, you’ll be able to ensure that your relationships are maintained and that you’re being an asset to your leads wherever they need you to be at that point in time, whether it’s a lender recommendation to a home tour. 


To ensure that this is something that is made into a routine, schedule an hour each day on your calendar to make these calls and hold yourself accountable.


Stay Up To Date on the Market

In order to be considered an expert in your local market, you need to actually be an expert in your local market. Schedule some time in your day to look up the latest information on your area. This can be as simple as browning your local MLS to see what homes have hit the market, to using tools like bankrate.com to get the most up to date data on mortgage rates, to looking up the latest market data to see the latest inventory trends, sale prices vs list prices, and much more!


This data can then be used to turn into a video or infographic that can be posted across your social platforms. At the end of the day, you’ll be able to talk to your clients fully understanding what the current market conditions look like and be better able to advise them on how they can make the most out of their home sale or search. 


Bottom Line

A new year means a chance to make some new habits that will help you achieve the results that you want in 2022. As we say goodbye to 2021, start thinking about what you hope to get out of next year and what changes you’ll make to get there. These are just some strategies that you can use to build your business, but the sky is the limit! If you have goals for the new year and aren’t sure how to attain them, give us a call! Here at Chinatti Realty Group, we help our agents every day develop strategies that will help them achieve the success they want out of their careers, and we’d love to help you get to that next level! Give us a call (978) 300-8882

 

Posted in join our team