Real Estate Blog - March, 2023

Pharmaceutical Giant GSK To Expand Greater Boston Footprint

British pharmaceutical company GSK is growing its Greater Boston lab space, having acquired an additional 155,000 sq ft to add onto their Cambridge RNA and viral therapies lab site.  Their current lab is 40,000 sq ft - this acquisition will bring their Cambridge site to over 200,000 sq ft.  You can read more about it here.

Boston is one of the world's fastest-growing biotech hubs, with over 9 million sq ft of lab space under construction in Boston in 2022 and additional 4.6 million sq ft to be converted.  The quickly growing industry is bringing jobs to the Greater Boston market at an unprecedented rate.  Increasing demand combined with very low inventory has made the market historically competitive; experience and track record matter more than…

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4 Key Tips for Selling Your House This Spring

Spring has arrived, and that means more and more people are getting their homes ready to sell. But with recent shifts in real estate, this year’s spring housing market will be different from the frenzy of the past several years. To sell your house quickly, without hassles, and for the most money, be sure to follow these four simple tips:

1. Make Sure You Give Buyers Access

One of the biggest mistakes you can make as a seller is limiting the days and times when buyers have access to view your home. In any market, if you want to maximize the sale of your house, you can’t limit potential buyers’ access to view it. If it’s not accessible, it could cost you by sitting on the market longer and ultimately selling for a lower price.

2. Make Your Home…

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Get Ready: The Best Time To List Your House Is Almost Here

If you’re thinking about selling this spring, it’s time to get moving – the best week to list your house is fast approaching.

Experts at realtor.com looked at seasonal trends from recent years (excluding 2020 as an uncharacteristic year due to the onset of the pandemic) and determined the ideal week to list a house this year:

“Home sellers on the fence waiting for that perfect moment to sell should start preparations, because the best time to list a home in 2023 is approaching quickly. The week of April 16-22 is expected to have the ideal balance of housing market conditions that favor home sellers, more so than any other week in the year.”

If you’ve been waiting for the best time to sell, this is your chance. But remember, before you put your…

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3 of the Best Locations Outside of Boston to Invest In

3 of the Best Locations Outside of Boston to Invest In

It probably doesn’t surprise anyone that the Real Estate market in Massachusetts is one of the top performing markets in the country. It consistently shows year over year growth, even when other areas of the country seem to be struggling. It goes without saying that the primary market in Massachusetts is Boston, and is a key component to why Massachusetts performs so well on a year to year basis. It makes a lot of sense. Boston is a nationwide leader in healthcare, higher education, biotech, and the rental market is one of the strongest in the country, making Boston a prime location for Investment. However, If you take Boston out of it, the Massachusetts market still performs very well and there…

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Boutique luxury building with 35 designer homes coming to Wellesley!

Terrazza Wellesley is scheduled to be delivered in Summer 2023.  It will consist of 35 luxury homes ranging from one bedrooms to three bedrooms with floor-to-ceiling windows, private outdoor space, quartz countertops, stainless steel appliances and garage parking.  The building has an on-site concierge and tranquil setting just a 4-minute walk from Wellesley Center and only 17 miles from Boston.

Contact me for more information and floor plans, and to schedule a private tour!

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Why Buying a Home Is a Sound Decision

If you’re thinking about buying a home, you want to know the decision will be a good one. And for many, that means thinking about what home prices are projected to do in the coming years and how that could impact your investment.

This year, we aren’t seeing home prices fall dramatically. As the year goes on, however, some markets may go up in value while others may lose value. That’s why it’s helpful to keep the long-term view in mind. Experts project a return to a steadier rate of price appreciation in the years that follow.

Home Price Appreciation in the Years Ahead

Over 100 economists, investment strategists, and housing market analysts were polled by Pulsenomics in their latest quarterly Home Price Expectation Survey (HPES). The report…

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What’s Ahead for Home Prices in 2023

Over the past year, home prices have been a widely debated topic. Some have said we’ll see a massive drop in prices and that this could be a repeat of 2008 – which hasn’t happened. Others have forecasted a real estate market that could see slight appreciation or depreciation depending on the area of the country. And as we get closer to the spring real estate market, experts are continuing to forecast what they believe will happen with home prices this year and beyond.

Selma Hepp, Chief Economist at CoreLogic, says:

“While 2023 kicked off on a more optimistic note for the U.S. housing market, recent mortgage rate volatility highlights how much uncertainty remains. Nevertheless, the continued shortage of for-sale homes is likely to keep price…

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What Buyer Activity Tells Us About the Housing Market

Though the housing market is no longer experiencing the frenzy of a year ago, buyers are showing their interest in purchasing a home. According to U.S. News:

“Housing markets have cooled slightly, but demand hasn’t disappeared, and in many places remains strong largely due to the shortage of homes on the market.”

That activity can be seen in the latest ShowingTime Showing Index, which is a measure of buyers actively touring available homes (see graph below):

The 62% jump in showings from December to January is one of the largest on record. There were also more showings in January than in any other month since last May. As you can see in the graph, it’s normal for showings to increase early in the year, but the jump this January was larger…

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What The Experts Are Seeing Heading Into The Spring Market

When rates fell in December after a steady climb last fall, the National Association of Realtors (NAR) saw an 8% jump in pending home sales that month.  When rates rose again slightly this past winter, the volume of home sales decreased as well, although historically the winter is a slower time in the housing market.  In response to the banking crisis, rates fell to 6.57% this week for a 30-year fixed rate mortgage.  You can read more here on CNBC.com.

Chris Devin and The Devin Group at Cross Country Mortgage are consistently in the top 1% of mortgage brokers in America.  He recently provided his insights on the rate environment in our current geopolitical landscape:

If you are considering buying a home this spring, I've put together a…

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Four Buildings Approved To Be Built On The Site of the Allston Skating Club

The BPDA approved a four-building project to be built on the site of the former Allston Skating Club that will include more than 500 condos and apartments.  It will also include commercial and retail space.   Additionally, the site will include an 11-story, 195-room hotel.  The project was proposed by the developer Davis Cos.  You can read more about it on the Boston Business Journal.

Contact me for more updates on this project and new development in Boston!

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