Archive for September, 2009
Affordable Condo Options Newly Available
September 28th, 2009 Categories: Featured Listings, Holliston, Natick, Real Estate
Over the past few weeks there have been 2 condo options that have come available in our area that could become really good deals. I mention “could” because one is an auction property and one is an income restricted option.
Natick has luxury condominiums Read the rest of this entry »
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Nordstrom is Having a Sale… on Condos!
September 11th, 2009 Categories: Featured Listings, Market Conditions, Natick, Real Estate
Natick has one-of-a-kind luxury condos that are going on the auction block next month. The Nouvelle at Natick is a 215 unit project that is connected with the mall. About 20% of the units are going to be auctioned October 4th.
The developers are in trouble. They built this development just as the economy was going into a tailspin. They have sold or put under contract only a total of 37 condos. Ouch!
Using town records, I was only able to verify 18 sold units, and selling prices ranged from $369900 to $1.2 million. The following are the units being auctioned:
- 1 Bedroom & 1 BR + Study $160K-$210K
796-1078 sq ft units
- 2 Bedroom & 2 BR + Study $220K-$315K
1068-1591 sq ft units
- 3 Bedroom (only 1 unit auctioned) $350,000
1774 sq ft
- Penthouse (2 units) $375K-$475K
1596-2110 sq ft units
The marketing department has tried everything to entice the local Realtor community to sell these units. Incentives for months of condo fees or mortgage payments have not worked to bring in sales. These prices have just been too high for such a unique housing option in Metrowest.
You will need a deposit of $10,000 on auction day, and I would highly recommend doing all your homework about unit locations, pricing, and mortgage financing. If you are an investor you likely will need 20-25% down payment to get your financing.
These very unique Metrowest condo options were never a good investment to consider, until now. Feel free to contact me for all details of the process and the property options. The developer will pay the commission of your Buyer Agent when bidding on these units, so take advantage of this guidance.
“We Live Where You Live” Ed Daniels of Remax Executive Realty can help you with this auction process and perhaps get you a great investment. He can be reached at 508-341-7880.| Discussion: No Comments »
Holliston: Real Estate is Local!
September 9th, 2009 Categories: Holliston, Real Estate
So, if you are living a busy life like me, you catch sound bites about how the world is doing. Lately it has been health care, stock markets, and of course, real estate values.
If you own a home in Holliston, you are not concerned with national real estate numbers… you are concerned with Holliston values!
Real estate is local. So let me provide you with some bullet points of how our town is doing in the real estate department:
Median prices up 2%
Thru August, the median home selling price was $357,000 for the year. It was $350,000 at this time in 2008.
Taking longer to Sell
It takes 136 days on average to market a home in Holliston to sell. In 2008 it took 117 days on average thru August.
More homes Sold in 2009 vs. 2008
We have 83 sales in town for 2009 compared to 74 over the same period in 2008.
Holliston did not go through this economic downturn unscathed. Going back in time just one more year and we find that the town’s median price is still down 10% since 2007 ($397,900 median sold values Jan-Aug 2007).
Perhaps this data will help to put into perspective how well most family’s largest investment is holding up.
“We Live Where You Live”
Ed Daniels of Re/Max Executive Realty can be reached at 508-341-7880 for any questions about the real estate market. Any member of The MAhome Team can service the entire Metrowest Boston area, but Ed grew up in Holliston and is completely biased towards the community
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The Mortgage Rate Mountain
September 9th, 2009 Categories: Market Conditions, Mortgage Updates, Real Estate
Just a quick post:
This is a graph of mortgage rates over the course of the past 40 years.
Fielding calls about interest rates and client’s worry about where they are heading, I lose perspective about these numbers.
People, you can’t get much better than this… don’t worry about an eighth of a percent, lock it in!
Ed Daniels, of Re/max Executive Realty, can be reached at 508-341-7880. He is an 11 year veteran of the real estate market in Metrowest Boston, and has great mortgage broker contacts to answer all your specific questions.
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