Are you actively looking for a home in Arlington?

There are quite a few to choose from!

February 2011

The Latest 7 Days of Listing & Sales Activity for Arlington, MA.

Condominium Activity

Condominium Active Listings: 49

Condominium Under Agreement: 3

Condominium Sold Listings: 1

• Average List Price Active Listings: $361,198
• Average List Price Under Agreement: $397,933
• Sale Price of Sold: $260,000

• Average Market Time Active: 126
• Average Market Time Under Agreement: 63
  
• Market Time Sold: 4

Multi-Family Activity

Multi-Family Active Listings: 7

Multi-Family Under Agreement: 0

Multi-Family Sold Listings: 0

• Average List Price Active Listings: $571,700
  
• Average List Price Under Agreement: NA
• Average Sales Price Sold: NA

• Average Market Time Active: 172
  
• Average Market Time Under Agreement: NA
  
• Average Market Time Sold: NA
  

Single Family Activity

Single Family Active Listings:  37

Single Family Under Agreement: 3

Single Family Sold Listings: 5

• Average List Price Active Listing: $612,51
• Average List Price Under Agreement: $541,667
• Sale Price of Sold Property: $603,100

• Average Market Time Active Listing: 130
• Average Market Time Under Agreement: 98
  
• Market Time for Sold: 62

Featured Listing of the Week in Arlington:

165-167 Franklin Street

5 Bedrooms, 2 Baths, 4 Parking Spaces

Situated on a spacious 11,000+ sq. ft. lot with expansion possibilities!

Priced to sell at $525,000, Click Here to request more information and view more photos.

HGTV originally launched in 1994, but the popularity of the shows related to selling Real Estate is a newer phenomenon. WHY are these shows so popular, and if you are a home seller, do you have anything to learn from them? Yes you do! People love to look at homes, whether they are buying or not. What does this mean? If they are looking to buy a home, they have seen various levels of perfection in decor already! You have to meet their expectations!

Here are the top 5 ‘Takeaways’ for Home Sellers:

• Buyers like to envision themselves living in the home. If your decor is very dramatic or personal, that can prevent the buyer from seeing themselves in your home. Each home will require the opinion of a professional who has seen competing listings, but there are some general guidelines for helping the buyers see this vision: Remove personalized photos and replace with artwork or photographs of nature – Box up clutter and store it somewhere – Clear your kitchen counter tops of appliances and leave room for the bare minimum – Sparking bathrooms, with minimal content. You could pull that off in a weekend!

• The first impression is the most important impression! Buyer’s perception of your home is dependent on what they think when they first pull up, and when they are opening the front door. Look at your exterior through a stranger’s eyes – is it kept up? Is there anything that appears old or disheveled? Sometimes replacing an old door bell, getting a new welcome mat, and wiping down your front door is all it takes. You may have to paint a bit, trim a bit, and of course shovel that walk way in the winter time!

• Buyers like bright and open. Keep your blinds open during the day if you are not home. If there is a dark section of your home, leave the light on so it does not appear so gloomy. Buyers have trouble picturing themselves living in a dark home.

• Space, Space, and more space. They will be opening cabinets, closets, and pantries. This is your opportunity to de-clutter and showcase the storage spaces your home has to offer. We call this step ‘Become a Minimalist!’.

• Odors – keep them neutral and pleasant. There are several ways you can achieve this, but be careful. Everyone’s sense of smell is different, so if you choose something powerful like Glade Plug Ins, it could turn a buyer off. We recommend the gentle reed diffusers from Pier One. This line is gentle on the nose, but fragrant enough to give the area a pleasant scent. Stick with neutral scents: Vanilla, Linen, and scents related to comfort food like sugar cookie, cinnamon spice, can be nice as well.

If you would like personalized Staging information, please contact Mark directly for a referral to a stager with proven results.

February 2011

The Latest ‘Under Agreement and Sales Statistics’ for Arlington, MA.

Condominium Activity

Condominium Under Agreement: 6

Condominium Sold Listings: 2

• Average List Price Under Agreement: $303,250
• Average Sale Price of Solds: $377,000

• Average Market Time Under Agreement: 89.33
• Average Market Time Solds: 60.50

Multi-Family Activity

Multi-Family Sold Listings: 1

• Sale Price: $565,000

• Market Time: 9

Single Family Activity

Single Family Under Agreement: 9

Single Family Sold Listings: 1

• Average List Price Under Agreement: $605,322
• Sale Price of Sold Property: $799,000

• Average Market Time Under Agreement: 46.67
• Market Time for Sold: 8

Featured Listing of the Week in Arlington:

19 Orlando Avenue, Arlington

Contemporary Cape with Skyline Views! Beautiful floor to ceiling windows

with garden views, sunken living room, 3 Bedrooms, garage & more!

Offered at $799,000, Click Here to view more photos, get a map and request more information.

Selecting a Realtor to handle your upcoming sale can be daunting. Even if someone has been recommended to you, how do you know they are right for YOU? How do you know the person who referred them has the same standards you do? You can’t. You can only decide if the Realtor who was recommended or the one you saw on a sign or a post card is “the one” for you by interviewing them.

There are many capable Realtors in our market today, but with your upcoming sale, you want more than capable, don’t you? You want FANTASTIC! You want to have confidence that your Realtor can handle any situation that comes down the line. Often, neither the home seller nor the Realtor can see ahead to the obstacles that may arise in the sale of a home. Only an experienced, savvy, personable and professional Realtor can help you navigate potential ‘turbulence’ that you may encounter.

Mark Lesses of Coldwell Banker highly recommends using this checklist when interviewing your next agent. Selling a home can be one of the most daunting tasks you will encounter, and selecting a professional to assist you in the process should not be something you rush into.

We encourage you to print it out and use it to ensure your i’s are dotted and your t’s are crossed!

Seller Checklist – Download and print your copy today!

Did you hear the great news? According to the Massachusetts Association of Realtors, housing prices appreciated in DOUBLE DIGIT numbers in 2010 when compared with 2009! That is great news! Fewer housing units sold, but most properties that were priced right sold…at an increase over last year!

January Under Agreement and Sales Statistics to date for Arlington.

Despite the snow, these homes are still selling!

Condominium Under Agreement: 8

Condominium Sold Listings: 13

• Average List Price Under Agreement: $326,875
• Average Sale Price of Solds: $350,238

• Average Market Time Under Agreement: 27.25
• Average Market Time Solds: 78.08

Multi-Family Under Agreement Listings: 3                 

Multi-Family Sold Listings: 2

• Average List Price Under Agreement: $498,267
  
• Average Sale Price of Solds: $566,000

• Average Market Time Under Agreement: 114.00
  
• Average Market Time Solds: 84.50

Single Family Under Agreement Listings: 13

Single Family Sold Listings: 10

• Average List Price: $498,554
  
• Average Sale Price: $509,140

• Average Market Time: 86.85
  
• Average Market Time: 84.90

Featured Listing of the Week in Arlington:

1880′s Classic 2 Family Home, just steps from Spy Pond!

Offered at $679,000, click here to view more photos,

get a map and request more information.

Sellers often think in terms of….selling. It’s easy to do, you spend hours upon hours preparing your home, endure the marketing period where you have strangers walking through your home on any given day, manage the inspection negotiations and the appraisal process, and many other steps along the way. It’s easy to see why Sellers don’t think of the mortgage, there are so many other fun things to focus on! The neighborhood. The amenities. The floor plan. The schools, and on and on!

If you are thinking of selling your home, here are some great tips for looking into that next mortgage. The industry has changed so much over the past 5 years, you will be glad you followed these guidelines.

Excerpts from NE Moves Mortgage, click here to read the article in its entirety.

“To truly find the best deal on a mortgage loan, it is essential to first determine what type of loan you need. The mortgage industry has been extremely adaptive in creating all sorts of loans designed to fit all sorts of borrowing needs. Because of this, home loan lenders have become highly specialized in the programs they offer. Each of these lenders will be able to offer you better rates on their specialty program than they would on other loans. Figuring out exactly what type of home loan your situation calls for will help you know where to start shopping.”

Here are some helpful questions that can aid you in determining what type of loan and what type of lender you need.

1. First, how much do you need to borrow? Some lenders only loan up to the Fannie Mae conventional loan standards (currently $417,000) while other will have jumbo loan programs available. Do you have the willpower to borrow less than you need, in case of an emergency or change in health status? Be strong, the total amount you qualify for does not mean you have to borrow it all!
2. How much of a down payment can you supply? There are lenders that only make loans to borrowers who have 10-20% to put down. The days of moving into a home for less than 10% down are not a thing of the past, but it’s not easy. Having a realistic picture of what your down payment will look like helps you keep the selling price of your current home
3. What type of loan term are you looking for? Most offer 30-year fixed loans, but others will offer 15-year loan terms. You may be lured by the lower payment of the 30 year, but if you plan on making this your ‘last stop’ and retiring here, how great would it feel to have that mortgage paid off in 15?
4. How much documentation are you willing and/or able to provide? Lenders require you to provide proof of income or other financial factors. Folks who are self employed and have little in the form of a down payment or reserve funds can be the hardest to qualify, so make sure your lender has experience in getting loans for clients who have a situation like yours. Likewise if you’ve changed your career recently, your lender needs to know this up front.
5. Are you applying for a loan for a single-family home, a condominium, or a unit in a duplex or triplex? There are lenders that specialize and can provide the best rates for each of these types of dwellings. Don’t go to a commercial lender because he’s a friend of a friend. If they do not actively close residential loans, ask for a recommendation to a lender who does, and your Realtor can recommend a specialist to you.

You can probably now see why mortgage brokers have become such a popular choice among borrowers, as they have connections to many different lenders and it is their job to find a lender that specializes in your particular type of loan needs!

Ultimately the mortgage you choose will give you a minimum down payment that is necessary to obtain the loan. Discussing this number with your Realtor prior to listing your home can save you time and a giant headache! Remember, mortgage requirements change every day, so if your home does not sell in a reasonable amount of time, you will want to shop alternate loan options to reflect a lower sales price, if necessary.

It is also important to note that some types of loans are always going to be more expensive than others, no matter which lender you turn to. The cost of a loan is determined by the various risk factors involved. A basic example is the risk of a borrowers credit score. A borrower with excellent credit is going to find better interest rates with any lender than a borrower with poor credit will.”

In closing, preparing for a new mortgage can be described the same way as preparing to go out in the cold: You can never be too prepared! Don’t forget, your Realtor is a walking knowledge base as well when it comes to home loans, and most are ready and willing to answer your questions!

What can you do to ensure Buyers like your home? Red Door DesignWorks recommends these TOP FIVE tips when it comes to staging:

1. Clean thoroughly

2. Declutter

3. Depersonalize

4. Enhance curb appeal

5. Fix maintenance problems

The inspiration for this post was sparked by a conversation about Staging…what’s new? When it comes to good staging advice, it is TIMELESS. The only thing that changes is the Seller’s ability to hear what the Stager is saying, and then allowing the Stager to do their job. Some home sellers hear it right away and act on it…other sellers need a dozen folks to walk through the home and reject it before they can see it through the Buyers eyes.

Here is an excerpt from an article featured on Wicked Local back in 2008:

“According to Red Door DesignWorks owners Andrea Canty and Allison Carswell, “home staging” is the process of professionally preparing a home to go on the market.

“We help ‘depersonalize’ a home so potential buyers can immediately envision themselves living in it,” Carswell said. For a house to hit the market with the most impact, the pair works with sellers to remove memorabilia, family photos, toys, clutter, and any unfinished projects.

“When buyers walk into a home, they instantly make a judgment about whether they can live in it or not. It’s a crucial 30-second first impression that can make or break the sale. For sellers looking to generate the most interest and attract multiple bidders, there’s not much room for error with their house presentation,” Carswell said.

While home staging has gained national exposure through reality television shows such as Designed to Sell and Get It Sold! on HGTV, it is relatively new to the Arlington market. Its novelty is something the Griffiths believe gave them an edge.

Their house sold within four days of being on the market, with multiple offers coming in over the asking price the day of the first—and only—open house. Today, the Griffiths are packing up boxes and preparing to move.

“In talking with friends around the country, home staging is much more common elsewhere. In some areas, you either home stage or perish,” Margit Griffith said. “In the not too distant future, it’s going to be something a lot more people in this area are going to be doing.”

Even though we are entering 2011, Staging can still make or break the sale of a home in our local market. Click here to read the 2008 Staging Article in its entirety.