All About Massachusetts Real Estate

By Westchester Modular Homes Construction Corp, Westchester, Putnam, Rockland, Dutchess, Orange
(Westchester Modular Homes Construction Corp)
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Key Questions To Ask Yourself Before Buying a Home Sometimes it can feel like everyone has advice when it comes to buying a home. While your friends and loved ones may have your best interests in mind, they may also be missing crucial information about today’s housing market that you need to make your best decision. Before you decide whether you’re ready to buy a home, you should know how to answer these three questions. 1. What’s Going on with Home Prices? Home prices are one factor that directly impacts how much it will cost to buy a home and how much you stand to gain as a homeowner when prices appreciate. The graph below shows just how much experts are forecasting prices to rise this year:Continued price appreciation is great news for existing homeowners but can pose a significant c...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Home Sellers: There Is an Extra Way To Welcome Home Our Veterans Some veterans are finding it difficult to obtain a home in today’s market. According to the National Association of Realtors (NAR): “Conventional conforming mortgages (mortgages that conform to guidelines set by Fannie Mae and Freddie Mac), accounted for 74% of mortgages obtained by homebuyers in May 2021, an increase from about 65% during 2018 through 2019…The share of VA-guaranteed loans has also decreased to 7% in May 2021 from about 10% in past years.” Recent data in the latest Origination Insight Report from Ellie Mae sheds light on the continuation of this trend. Below, we can see just how small of a share of total financing VA loans made up in June of 2021, according to that Ellie Mae report:The drop in VA loan usag...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
4 Reasons Why the End of Forbearance Will Not Lead to a Wave of Foreclosures With forbearance plans about to come to an end, many are concerned the housing market will experience a wave of foreclosures like what happened after the housing bubble 15 years ago. Here are four reasons why that won’t happen. 1. There are fewer homeowners in trouble this time After the last housing crash, about 9.3 million households lost their home to a foreclosure, short sale, or because they simply gave it back to the bank. As stay-at-home orders were issued early last year, the overwhelming fear was the pandemic would decimate the housing industry in a similar way. Many experts projected 30% of all mortgage holders would enter the forbearance program. Only 8.5% actually did, and that number is now down to...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
A Look at Housing Supply and What It Means for Sellers One of the hottest topics of conversation in today’s real estate market is the shortage of available homes. Simply put, there are many more potential buyers than there are homes for sale. As a seller, you’ve likely heard that low supply is good news for you. It means your house will get more attention, and likely, more offers. But as life begins to return to normal, you may be wondering if that’s something that will change. While it may be tempting to blame the pandemic for the current inventory shortage, the pandemic can’t take all the credit. While it did make some sellers hold off on listing their houses over the past year, the truth is the low supply of homes was years in the making. Let’s take a look at the root cause and what ...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
3 Hot Topics in the Housing Market Right Now If you’re a prospective buyer or seller, it’s important to understand the current real estate market conditions and how they affect you. The Counselors of Real Estate (CRE) just released its Top Ten Issues Affecting Real Estate report. Here are three hot topics from the list and how they impact today’s housing market. Technology Acceleration and Innovation The past year ushered in many changes to the real estate industry, especially when it comes to technology. The CRE report elaborates on this: “Lockdown-driven changes in our work, in the economy, in social structures, and in our personal behavior have pushed our reluctance aside. The acceleration and adoption of technology during the pandemic has impacted everything, and real estate is no e...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Pop Quiz: Can You Define These Key Terms in Today’s Housing Market?  Some Highlights The language of buying and selling a home may sound scary at first, but knowing how key terms relate to today’s market can help you. For example, current low mortgage rates and higher wages positively impact affordability for buyers, while home price appreciation continues to grow home equity, which sellers can use to fuel a move up. Terms like appraisal (what lenders rely on to validate a home’s value) and contingencies (which buyers can minimize to make their offer stand out) directly impact the transaction. You don’t need to be fluent in the language of the market to buy or sell. Instead, let’s connect today so that we can translate the process together.
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Today’s Real Estate Market Explained Through 4 Key Trends As we move into the second half of the year, one thing is clear: the current real estate market is one for the record books. The exact mix of conditions we have today creates opportunities for both buyers and sellers. Here’s a look at four key components that are shaping this unprecedented market. A Shortage of Homes for Sale Earlier this year, the number of homes available for sale fell to an all-time low. In recent months, however, inventory levels are starting to trend up. The latest Monthly Housing Market Trends Report from realtor.com says: “In June, newly listed homes grew by 5.5% on a year-over-year basis, and by 10.9% on a month-over-month basis. Typically, fewer newly listed homes appear on the market in the month of Jun...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Remote Work Has Changed Our Home Needs. Is It Time for Your Home To Change, Too? Over the past year, many homeowners realized what they need in a home is changing, especially with the rise in remote work. If you’re longing for a dedicated home office or a change in scenery, now may be the time to find the home that addresses your evolving needs. Working from Home Isn’t a Passing Fad Before the pandemic, only 21% of individuals worked from home. However, if you’ve recently discovered remote work is your new normal, you’re not alone. A survey of hiring managers conducted by Statista and Upwork projects 37.5% of U.S. workers will work remotely in some capacity over the next 5 years (see chart below): Working from Home Gives You More Flexibility and More Options If you fall in that category...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
3 Charts That Show This Isn’t a Housing Bubble With home prices continuing to deliver double-digit increases, some are concerned we’re in a housing bubble like the one in 2006. However, a closer look at the market data indicates this is nothing like 2006 for three major reasons. 1. The housing market isn’t driven by risky mortgage loans. Back in 2006, nearly everyone could qualify for a loan. The Mortgage Credit Availability Index (MCAI) from the Mortgage Bankers’ Associationis an indicator of the availability of mortgage money. The higher the index, the easier it is to obtain a mortgage. The MCAI more than doubled from 2004 (378) to 2006 (869). Today, the index stands at 130. As an example of the difference between today and 2006, let’s look at the volume of mortgages that originated w...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
What You Should Do Before Interest Rates Rise In today’s real estate market, mortgage interest rates are near record lows. If you’ve been in your current home for several years and haven’t refinanced lately, there’s a good chance you have a mortgage with an interest rate higher than today’s average. Here are some options you should consider if you want to take advantage of today’s current low rates before they rise. Sell and Move Up (or Downsize) Many of today’s homeowners are rethinking what they need in a home and redefining what their dream home means. For some, continued remote work is bringing about the need for additional space. For others, moving to a lower cost-of-living area or downsizing may be great options. If you’re considering either of these, there may not be a better tim...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Your Home Equity Can Take You Places Some Highlights The amount of wealth Americans have stored in their homes has increased astronomically. On average, homeowners gained $33,400 in equity over the last 12 months, and the average equity on mortgaged homes is now $216,000. When it’s time to sell, your home equity can help accomplish your goals. Let’s connect to discuss how you can take advantage of today’s sellers’ market to get the most out of your home sale.
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
  If you want to sell your house as quickly as possible, a home fact sheet is a must-have. By crafting an informative home fact sheet, you may be able to differentiate your residence from the competition and boost your chances of a fast, profitable home sale. Creating an effective home fact sheet can be quick and easy. Now, let's take a look at three tips to ensure you can craft a home fact sheet that hits the mark with potential buyers. 1. Provide Accurate Information Accuracy is paramount, particularly for a home seller who is crafting a home fact sheet. If you provide homebuyers with accurate information, you can make it easy for them to determine whether to move forward with a home showing. Remember, your goal as a home seller is to make it simple for homebuyers to learn about your ...
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By Joseph D. Federico, Eastern Massachusetts Real Estate
(Donahue Real Estate Co.)
Which Home Improvements Add the Most Value to a Home     Photo by bidvine via Pixabay   Some home projects and improvements can't wait - a leaking hot water heater or a water damaged floor need to be replaced right away. Other, planned renovations and upgrades are optional. Consider not only your current needs, but the potential impact of any large planned upgrade on your home's value before you proceed. If you are upgrading your home to sell it soon, the improvements you make should add value to your home and be recouped when you are ready to sell.  4 Home Improvements that Add the Most Value to your Home (and 3 That Don't) Some upgrades enhance the overall value of your home, while others allow you to improve the look of your home, and recover the majority of your costs when you sell....
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By inboundREM Market Updates
(InboundREM)
South Medford, MA Community and Real Estate InformationSouth Medford is the southernmost portion of Medford, Massachusetts, and is primarily a suburban neighborhood. The area is separated from the rest of the city by the Mystic River and is largely surrounded by Somerville suburbs. The area is bordered on the west by Tufts University, on the south by Powder House Square and Magoun Square, and on the southeast by Winter Hill. Various commercial facilities, including auto dealerships, shops, restaurants, and other local companies, line the Mystic Avenue section of the area. Public parks abound throughout the city, providing wonderful outdoor areas for you and your family to enjoy. Residents also have easy access to the area's public schools. South Medford real estate is fairly diversified...
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By inboundREM Market Updates
(InboundREM)
Glenwood, Medford, MA Community and Real Estate InformationGlenwood is a neighborhood in Medford, Massachusetts that is centrally placed. West of I-93, south and west of Fellsway, north of Mystic River, and northwest of Wellington is the neighborhood. The mixed-use neighborhood has a strong business presence, which is concentrated towards the Wellington border. Throughout the town, there are several shopping malls, office buildings, condos, and other mid-rise structures. Glenwood's growth peaked, like that of most other parts of the city, during the turn of the century, as the region's desire for suburban homes expanded. Many of the suburban developments created at the time are still standing today, along with the many magnificent homes that line the suburb's many streets. Today, new co...
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By inboundREM Market Updates
(InboundREM)
Wellington, MA Community and Real Estate InformationWellington is a riverfront community on a peninsula that is bordered to the south by the Mystic River and to the east by the Malden River. The area, which is located in the city center of Medford, MA, is one of the city's major commercial districts and is home to a variety of department shops, retail malls, office buildings, condominium complexes, and more. Residents are treated to a variety of activities and have easy access to a variety of shopping and eating options, many of which are within walking distance of their homes. The Mystic River State Reservation and Torbert Macdonald Park are located to the south of the town. The views of the river and the city of Somerville to the south are spectacular from this well-kept riverfront op...
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By inboundREM Market Updates
(InboundREM)
North Medford, MA Community and Real Estate InformationNorth Medford is a residential area of Medford, Massachusetts, located in the northern part of the city. The neighborhood is bordered on the west by the Northern Expressway, on the south by Fellsway W, on the east by the city of Malden, and on the north by the Middlesex Fells Reservation. This hillside neighborhood includes charming cul-de-sac developments with plenty of mature trees and well-built single-family houses. The streets are individually designed to complement the region's natural surroundings. Homes are located in lovely settings with plenty of mature trees and greenery. Residents can easily reach the towns of Medford and Malden and are only a 25-minute drive from Downtown Boston via I-93. Families seeking a new home in ...
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By inboundREM Market Updates
(InboundREM)
Medford Center, MA Community and Real Estate InformationMedford Center is a neighborhood in Medford, Massachusetts, located directly east of West Medford and west of Glenwood and Wellington. S Border Road to the north, Northern Expressway to the east, the Mystic River to the south, and Governors Avenue to the east define the boundaries of this area. The southern riverside part of this neighborhood serves as Medford's major downtown district, including government offices, a shopping mall, and other office buildings. The residential section of the neighborhood, which is made up of different suburban single-family dwellings, is located to the north of this region. Residents in Medford benefit from easy access to schools, shopping, restaurants, public parks, a hospital, and a variety of oth...
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By inboundREM Market Updates
(InboundREM)
West Medford, MA Community and Real Estate InformationWest Medford is the westernmost neighborhood in Medford, Massachusetts, as the name implies. The suburb is the city's biggest district, bounded on the south by the Mystic River, on the east by Mystic Lake, and on the north by the Middlesex Fells Reservation and Winchester. Governors Avenue, which serves as the neighborhood's eastern border, separates it from the Medford Center district. Although the suburb is primarily residential, it does contain a well-established business district centered on the West Medford Train Station. The Medford - Brooks Estate, Oak Grove Cemetery, Medford High School, and Medford Boat Club are among the community's other significant landmarks. With its finely designed Colonial-style mansions constructed in...
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Massachusetts Real Estate Agents and Real Estate Professionals