Blog :: 07-2013

Steve McKenna & The Home Advantage Team (HAT) Condo Report

 
You know the real estate market has been off the charts lately, and there are many opinions about where the market has been and where it's going. While everyone is entitled to an opinion, it also helps to have the facts.
 

 

Condo owners and prospective condo buyers interested in what recent low interest rates and rising home prices mean for their specific market will should take a look at The Home Advantage Team (HAT) Condo Report.
 

 

The HAT Condo Report brings clarity-through-data to the Arlington condo market.* Here we break down the top facts about the Arlington condo market, as well as provide the full report below.
 
  • To date, condo sales have increased 13% since the same time last year.
     
  • To date, the average Per Square Foot (PSF) selling price has increased from $287 to $310.
     
  • To date, the average days on market (DOM) are almost half of what they were in 2012. In 2012 the average DOM was 73 - in 2013 it's 37.
     

If the statistic depicting lower sales prices in 2013 than 2012 seems contradictory to current trends, you're right. The reason is because the size of the average condo is lower, resulting in a higher PSF, causing the average condo value to have actually increased since 2012.


 

If you would like additional information regarding the details of this report, or to better understand what it means for you, contact me for a free and confidential Custom Market Analysis (CMA).
 

 

Phone: 781.645.0505

 

(*A single-family home HAT Report is coming up next!)

To view a larger version of the HAT Condo Report, CLICK HERE.
 
 

Spotlight: Arlington Home of the Week: 115 Park Ave.

What a difference a week makes! Last week we were melting into puddles and now we're breaking out the long sleeves. Oh New England, you are fickle but we love you anyway.

Now it's time to recheck that summer list of things to-do - even if that means find time to kick back and do nothing! And you don't have to go far if you're looking for some fun, there are many activities right in your own backyard this weekend, just check out this 'to-do' list from the Arlington Patch.


 

And if you're in the market for a new home we have the perfect place - right within walking distance to the Arlington Heights shops and restaurants. And the Arlington Res is just down the road to beat the heat - or warm up with a brisk walk, depending on the day :)

 

 

A Park Ave. diamond in the rough! This center-entrance colonial has great space with unlimited potential! The first floor has a formal dining room with natural wood work and built-in cabinets, wood burning fireplace, and the living room has beamed ceilings with a year round sun porch just off the room. There is a spacious eat-in-kitchen, four large bedrooms and walk-up attic which adds to the potential. There is a private, lush back yard, bricked patio area, and garage parking. Located a short distance to Arlington Heights, public transportation and Route 2! (MLS #71560268)
 

 

Listed:$589,000
 

 

What's Nearby:Arlington Heights shops and restaurants, Arlington Reservoir, public transportation, Route 2, Minuteman Bikeway, Dallin School.
 


Scroll down to see other new listings in and around the area this weekend, and happy house hunting.


 

SINGLE FAMILY
 

 

Address
 
Rooms
 
Bed
 
Bath
 
Style
 
Price
 
130 Renfrew St.
 
4
 
2
 
1f
 
Cape
 
$369,000
 
23 Clyde Ter.
 
9
 
5
 
2f
 
Colonial
 
$497,000
 
115 Park Ave.
 
8
 
4
 
2f
 
Colonial
 
$589,000
 
18 Wright St .
 
7
 
3
 
1f 1h
 
Colonial
 
$589,000
 
12 Gay St
 
6
 
4
 
2f 1h
 
Ranch
 
$595,000
 

 

CONDO
 

 

Address
 
Rooms
 
Bed
 
Bath
 
Style
 
Price
 
83 Bow St. U:83
 
8
 
4
 
2f
 
2/3 Family
 
$465,000
 
747-A Mass Ave. U:747-A
 
6
 
3
 
2f 1h
 
Townhouse
 
$725,000
 

 

MULTI-FAMILY
 

 

Address
 
Rooms
 
Bed
 
Bath
 
Style
 
Price
 
50-52 Forest St.
 
2 unit, 10 total
 
10
 
4
 
2 Family
 
$574,000
 

Veteran Real Estate Professional, Annie Kelly, Joins Arlington's #1 Real Estate Team

Please join us in welcoming REALTOR®Annie Kelly to the Home Advantage Team! We are very excited to have Annie's expertise in the Medford and Winchester real estate markets. Her added local knowledge and real estate experience will allow us to better serve clients in these areas.

 
Read the announcement below for details!

 

 
 Veteran Real Estate Professional, Annie Kelly, Joins Arlington's #1 Real Estate Team

Local real estate expert of Winchester and Medford markets expands team's focus

July 23, 2013 (Arlington, Mass.) -  Steve McKenna & The Home Advantage Team of BOWES Real Estate, Real Living, is pleased to announce that Annie Kelly has joined the #1 real estate team of Arlington and Medford. 

Annie has been an active REALTOR®in Winchester for more than 10 years and brings an extensive amount of experience, knowledge and professionalism to the team.  Residing in West Medford for the past 24 years, Annie has been an involved member of the community - she was a member of the PTO at St. Raphael's School, a past Executive Secretary for the Medford Boat Club and a volunteer with the Medford Historical society.

 

"The Home Advantage team has experienced a steady increase in real estate transactions across the Medford market," said Steve McKenna, Broker at BOWES Real Estate, Real Living. "We know this community well, and we want to accommodate an increasing demand. Expanding our team to include someone who is well respected within the community and knows the ins and outs of the local real estate market helps us to better serve our clients."

 


Annie will be joining Steve McKenna & The Home Advantage Team which includes, Erika Pereira, Mitzi Pallotta, Pam McLaughlin, Julia Whitney and Beth Romvos.  Steve consistently hires only the best and the brightest, and each team member brings unique expertise to help clients buy and sell homes faster and for a better price. The addition of Annie will allow for a more concentrated focus on Winchester and Medford, supported by Annie's extensive knowledge of these communities.

 
The complexity of real estate is increasing, and what's true for the national market isn't always true for the local market. The best advantage a home buyer or home seller can have is a real estate team with extensive local market knowledge. Steve has been associated with BOWES Real Estate for 27 years and his team has been the #1 team in Arlington and Medford for more than 20 years.  He has been listed as one of the Top Power Brokers in Boston Magazine and The Top 20 Agents.

Steve & The Home Advantage Team are extremely excited to welcome Annie as she brings a high level of energy and a wealth of information and knowledge about the Medford and Winchester real estate markets. 

 


 

 
 

Looking for a Sign?

There are many signs that it is a great time to sell your home:

  • Fewer homes for sale means less competition
  • Prices have been rising
  • Motivated buyers are in abundance

SOLD signs have been popping up all over town - just look at the map of homes SOLD by Steve McKenna & The Home Advantage Team in the past six months.*
 


Homes of every size and style across all of Arlington's neighborhoods are selling fast - a sure sign that yours could be next.


 

In my 25+ years selling homes in Arlington I have never seen such an amazing real estate market. Contact me today for a free and confidential Custom Market Analysis (CMA) on your home. Calling us is the first step toward getting a sign in front of your home.
 

If proof of results is the best indicator of a Realtor's ability to sell a home, then our map of SOLD signs proves just that. 

It's not going to cost you more to use the #1 real estate team in Arlington, but it could cost you if you don't.


*Data results from Multiple Listing Service (MLS), 1/1/13 - 6/30/13
 

Spotlight: Arlington Home of the Week: 11 Huntington Street

It's hot. Really hot. Like hot hot. So we thought we'd rename this our Sp-HOT-light Home of the Week. Not just because it's hot out (because it is) but because this is such a HOT listing!


 

Do what you can to stay cool today and tomorrow and be sure to keep a close eye on children, the elderly and pets as they are more susceptible to this kind of heat. Sunday is looking much better and a perfect chance to check out 11 Huntington Street!
 

 

Did we mention that it's hot?
 

 

A picture perfect home in Arlington Heights! This meticulous traditional Colonial offers six spacious rooms consisting of a lovely living room with fireplace, formal dining room with built in hutch, a large eat-in kitchen and three fabulous bedrooms. Beautifully maintained, the owners have added crown moldings in the living room, dining room, foyer and hall. A recently renovated deck and other improvements have been made over the years. This home is close to public transportation, Pierce School, and McClellan Park! (MLS #71557147)
 

 

Listed:$459,000
 

 

What's Nearby:Arlington Heights shops and restaurants, public transportation, McClellen Park, Minuteman Bikeway, Pierce School.
 

 

Scroll down to see other new listings in and around the area this weekend, and happy house hunting.
 

 

SINGLE FAMILY
 

 

Address
 
Rooms
 
Bed
 
Bath
 
Style
 
Price
 
11 Huntington Rd.
 
6
 
3
 
1f 0h
 
Colonial
 
$459,000
 
54 Candia St.
 
6
 
3
 
2f 0h
 
Cape
 
$469,900
 
30 Bow St.
 
10
 
4
 
1f 1h
 
Colonial
 
$549,000
 

 

CONDO
 

 

Address
 
Rooms
 
Bed
 
Bath
 
Style
 
Price
 
9 Ryder St. U:14
 
3
 
1
 
1f 1h
 
Mid-Rise
 
$159,900
 
49 Appleton St. U:2
 
3
 
1
 
1f 0h
 
Mid-Rise
 
$199,000
 
40 Pleasant St. U:1
 
5
 
2
 
1f 0h
 
Townhouse
 
$430,000
 
24 Richardson Ave. U:24
 
7
 
4
 
2f 0h
 
2/3 Family
 
$475,000
 
68 Thorndike St. U:68
 
8
 
4
 
2f 0h
 
2/3 Family
 
$479,000
 
25 Elmore St. U:25
 
8
 
3
 
2f 0h
 
Townhouse
 
$619,000
 

The Best Deal in Town

The best deal in town isn't going to get you a free coffee, or extra toppings on your fro-yo, or even discounted theater tickets. But it could result in thousands of dollars in your pocket.

Basic principles of economics (or human nature) suggest that people want more for less.* Have you ever heard of a 'one for two' sale? Does a baker's dozen equal 11? Is Bounty the slower-picker-upper? Of course not. No one we know would willingly pay MORE and get LESS. This same principle goes for real estate as well.

In Massachusetts, the majority of real estate agent commissions fall between 2% and 3% for each real estate professional, making the average real estate commission rate for selling a home between 5% and 6%.
Assuming you are not attempting For Sale By Owner, and we've gone into the FSBO pro's and con's before, you're going to pay about the same rate for any given real estate professional you choose.
So if you could choose one real estate agent, or an entire real estate team - at no extra cost - wouldn't you pick the option that will get you the most bang for your buck?
As we've said before, there is No 'I' in Team - But There is a Home Advantage. There is an advantage to going with a team of exceptional professionals who can give you more expertise, more support, the best negotiating skills, the best transactions coordination, the best promotion and advertising, and most importantly - peace-of-mind knowing you got the best price for your home.
Don't get us wrong - we are not knocking the many successful solo real estate professionals out there. But it is very difficult to be both busy and successful as a solo real estate agent. There are just too many moving parts to any one real estate transaction - much less multiple transactions happening simultaneously.
Long-time success in real estate comes from a combination of knowledge, local expertise, and reputation supported by a great team. In other words, "the whole is greater than the sum of its parts."A strong real estate team can be more effective than any one real estate agent's efforts.
So the best deal in town means going with a team who can work to get you a better price on your home, whether you're buying or selling.
It's not going to cost you more to use the best real estate team around, but it could cost you if you don't.
*For the record, this post was written but not yet published when an article from Seth's Blog came out, Less for Less. We are huge fans of Seth's Blog, and some cosmic coincidence of content has us writing about a very similar topic. As Seth states, most of the time, yes, if you pay less you're going to get less. If you pay more, you're going to get more.  But not always.

And to his point, 'The benefits of the trusted, integrated community, the one that gives permission and seeks to be in sync--these benefits actually open the door for delivering more...'

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