SHERBORN, MA : MARKET DATA THROUGH APRIL

April Headlines

Sherborn
  • No significant changes.
Nearby Areas You May Be Interested In
  • Days on market in Needham is up 276.9% to 98.
  • Unit sales in Medfield in April were 19. This is up 90.0% from 10 in April of 2014.
  • Days on market in Westwood is up by 393.3%.
Changes Favoring Buyers
3 Months Ending April, 2015 % Chg From Apr, 2014
Median Sale Price $750,000 -16.2%
Market Time (Days) 173 57.3%
Price per Sq Ft for Sold $258 -0.4%
Sales to List Price Ratio 95.4% -0.6%
Listings Under Contract 15 -16.7%
Changes Favoring Sellers
3 Months Ending April, 2015 % Chg From Apr, 2014
Unit Sales 13 85.7%
Inventory 37 -14.0%
Months of Supply 8.8 -4.7%
New Listings 37 -9.8%

Sales

There were 5 unit sales in April. This is up 150.0% from 2 in April of 2014. Sales/list price ratio in April moved up to 100.0% from 93.2% in March.

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Prices

Median price in April was $790,000. This is up 38.5% from $570,500 in April of 2014. 3-month median price of $750,000 in April was up marginally from $740,000 in March but down modestly from $895,000 in April of 2014. Price per square foot in April was $280. This is up from $241 in March but down from $295 in April of 2014.

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Inventory

Inventory of 45 in April was up 40.6% from 32 in March but down 8.2% from 49 in April of 2014. New listings of 17 in April were up considerably from 11 in March but down slightly from 19 in April of 2014. Months of supply of 10.2 in April was up moderately from 7.7 in March but down a little from 10.5 in April of 2014. This is the highest months of supply has been since July, 2014.

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Market Time

Days on market of 130 in April was down somewhat from 191 in March but up substantially from 82 in April of 2014.

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Change in Median Sale Price for Single Family Properties YTD From 2014 To 2015 for Towns in Middlesex County Ranked by Best Performance
Town % Change
Cambridge 38.46%
Newton 24.92%
Stoneham 21.81%
Lowell 14.80%
Malden 14.72%
Hopkinton 13.40%
Wilmington 13.33%
Woburn 13.00%
Melrose 12.05%
Billerica 10.71%
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Monday March 2: New Listings in Wellesley and Weston

$2,100,000

576 Washington Street, Wellesley, MA 02482

2 Bed

2.5 Bath

1,932SqFt

Belclare. Exclusive condominiums in the heart of Wellesley Square offering a sophisticated, carefree lifestyle without leaving the community you love. Belclare homes are quietly elegant, generously proportioned and beautifully finished. The condom…Read More …..

Listed By Benoit Mizner Simon & Co. – Wellesley – Central St


$2,085,000

82 Sudbury Road, Weston, MA 02493

5 Bed

4.5 Bath

6,766SqFt

Sophisticated Architecture with a Modern Contemporary Style. This home brings together a layout of ultimate functionality in an individual and distinct design. A private driveway leads you to your perfectly sited home on over 2.5 private acres. Cu…Read More …..


$1,900,000

576 Washington Street, Wellesley, MA 02482

2 Bed

2.5 Bath

1,856SqFt

Belclare. Exclusive condominiums in the heart of Wellesley Square offering a sophisticated, carefree lifestyle without leaving the community you love. Belclare homes are quietly elegant, generously proportioned and beautifully finished. The condom…Read More …..

Listed By Benoit Mizner Simon & Co. – Wellesley – Central St


$1,499,000

29 Bristol Rd, Wellesley, MA 02481

5 Bed

3.5 Bath

3,138SqFt

Glistening white colonial shaded by beautiful trees and set on lovely Cliff Estates property boasts spacious rooms and generous proportions. Gracious foyer with turned stair opens to elegant living room with fireplace and dining room with built-i…Read More …..

Listed By Rutledge Properties


$1,299,000

3 Terrace Road, Weston, MA 02493

4 Bed

4.0 Bath

3,443SqFt

Bright and cheerful 4-5 bedroom country colonial located on a cul-de-sac street. This lovely home has had many improvements and has a fantastic floor plan. Kitchen has an adjoining family room with fireplace, charming living room with fireplace, l…Read More …..


$1,249,000

27 Priscilla Circle, Wellesley, MA 02481

5 Bed

3.0 Bath

2,834SqFt

Move right into this chic expanded Colonial on Cul-de-sac. Open floor plan boasts a renovated kitchen with granite & stainless steel appliances open to breakfast room and spacious family room. Formal living room with fireplace and dining room b…Read More …..

Listed By Coldwell Banker Residential Brokerage – Wellesley – Central St.

Luxury 23 Acre Estate For Sale in Sherborn, MA

32 Hunting Lane Sherborn, MA – Listed by The Walsh Team 508-934-4030 William Raveis Real Estate Wellesley, MA

Welcome to “Stone Water” – the ultimate private escape for the discerning buyer seeking anonymity, distinction, and proximity to shopping and major routes, as well as an acclaimed School System! This impressive gated stone and stucco architectural masterpiece has been extensively renovated and masterfully expanded with incredible attention to detail. An artists’ residence, it is a seamless blend of natural elements with every modern convenience imaginable. Set amidst 23+ acres of manicured fields, wildlife & woods and adjacent to the town forest, the views are spectacular! Complete with an awesome chef’s kitchen, sensibly scaled room proportions with panoramic vistas, a gorgeous heated salt water pool, spa and cabana, fish pond, movie theatre, tennis court, art studio and amazing decks, this is the perfect retreat from the cares of everyday life! Must be seen to be truly appreciated! (Could be a wonderful equestrian property.) http://youtu.be/whoAnfx3y-c

For more information on “Stonewater” or if you would like to buy or sell a home, please visit walshteam.com or contact Evan Walsh – The Walsh Team at 508-934-4030; info@walshteam.com.

Follow The Walsh Team on Facebook! http://www.facebook.com/walshteam1

Easy Steps to Reviving Your Lawn

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If your lawn looks pitiful after the tough winter months, early intensive care during spring may save it. On the other hand, if the lawn is past its recovery point, establishing a new lawn may be a better idea. If there’s still hope for your yard, here are some easy techniques to bring out the green in your grass.

If the lawn is compacted with more than half an inch of thatch (dead grass and leaves pressed down among the roots), remove it by using a dethatching rake or a power-dethatching machine. Regular dethatching forces buds to grow near the base of the grass stems and frees new grass shoots to grow in thick and lush.

Aerate

To aerate, use a coring device to cut 3- or 4-inch-deep holes in the soil, and leave the cores on the lawn to decompose naturally. The holes created by the aerator will provide a path for fertilizer, water and oxygen to get to the grass roots where they will do the most good.

Overseed

Overseeding is used to fill in bare spots. To prepare your lawn for overseeding, get rid of weeds, rake over the bare spots to prepare a loose seed bed, then, follow these next steps.

  • Choose a seed variety that matches the turf grass you already have. If you have blue grass, for instance, overseeding with any kind of blue grass will do the job.
  • Sow the seed at twice the rate recommended for a new lawn, and broadcast the seed over the bare areas by hand. Broadcast a very thin layer of light organic top dressing (no more than 1/4 inch) on top of the seed so it won’t dry out or blow away.
  • Fertilize using a spreader to distribute slow-release granular lawn fertilizer over the entire lawn in the quantity recommended for a new lawn.
  • Water regularly and keep the area damp by sprinkling until the seed germinates. Reduce watering when the seeds begin to grow.

Plant a New Lawn

Depending on the condition of your lawn, you may be able to revive it by simply dethatching, aerating and overseeding. However, if the lawn is completely overrun with weeds and patchy brown spots, or worse, it’s just a solid mass of straw, the most economical thing is to till it under and completely start from scratch.

For more articles on Landscaping visit: http://www.walshteam.com/gardening.asp

Selling Real Estate: The Basics of Making an Offer

the walsh team - william raveis - Wellesley - real estateA written proposal is the foundation of a real estate transaction. Oral promises are not legally enforceable when it comes to the sale of real estate. Therefore, you need to enter into a written contract, which starts with your written proposal. This proposal not only specifies price, but also all the terms and conditions of the purchase. For example, if the seller offered to help with $2,000 toward your closing costs, make sure that’s included in your written offer and in the final completed contract, or you won’t have grounds for collecting it later.

REALTORS® have standard purchase agreements and will help you put together a written, legally binding offer that reflects the price as well as terms and conditions that are right for you. Your REALTOR® will guide you through the offer, counteroffer, negotiating and closing processes. In many states certain disclosure laws must be complied with by the seller, and the REALTOR® will ensure that this takes place.

If you are not working with a real estate agent, keep in mind that you must draw up a purchase offer or contract that conforms to state and local laws and that incorporates all of the key items. State laws vary, and certain provisions may be required in your area.

After the offer is drawn up and signed, it is usually presented to the seller by your real estate agent, by the seller’s real estate agent, if that’s a different agent, or often by the two together. In a few areas, sales contracts are drawn up by the parties’ lawyers.

What is in an Offer?
The purchase offer you submit, if accepted as it stands, will become a binding sales contract (known in some areas as a purchase agreement, earnest money agreement or deposit receipt). So it’s important that the purchase offer contains all the items that will serve as a “blueprint for the final sale.” The purchase offer includes items such as:

address and the legal description of the property
sale price
terms: for example, all cash or subject to you obtaining a mortgage for a given amount
seller’s promise to provide clear title (ownership)
target date for closing (the actual sale)
amount of earnest money deposit accompanying the offer, whether it’s a check, cash or promissory note, and how it’s to be returned to you if the offer is rejected – or kept as damages if you later back out for no good reason
method by which real estate taxes, rents, fuel, water bills and utilities payments are to be adjusted (prorated) between buyer and seller
provisions about who will pay for title insurance, survey, termite inspections, etc.
type of deed to be given
other requirements specific to your state, which might include a chance for an attorney to review the contract, disclosure of specific environmental hazards or other state-specific clauses
a provision that the buyer may make a last-minute walkthrough inspection of the property just before the closing
a time limit (preferably short) after which the offer will expire
contingencies, which are an extremely important matter and that are discussed in detail below
Contingencies – “Subject to” Clauses
If your offer says “this offer is contingent upon (or subject to) a certain event,” you’re saying that you will only go through with the purchase if that event occurs. Here are two common contingencies contained in a purchase offer:

The buyer obtaining specific financing from a lending institution: If the loan can’t be found, the buyer won’t be bound by the contract.
A satisfactory report by a home inspector: for example, “within 10 days after acceptance of the offer.” The seller must wait 10 days to see if the inspector submits a report that satisfies the buyer. If not, the contract would become void. Again, make sure that all the details are explicitly stated in the written contract.
Negotiating Tips
You’re in a strong bargaining position, that is, you look particularly welcome to a seller, if:

you’re an all-cash buyer
you’re already have a preapproved mortgage and you don’t have a present house that has to be sold before you can afford to buy
you’re able to close and take possession at a time that is especially convenient for the seller
In these circumstances, you may be able to negotiate some discount from the listed price.

On the other hand, in a “hot” seller’s market, if the perfect house comes on the market, you may want to offer the list price (or more) to beat out other early offers.

It’s very helpful to find out why the house is being sold and whether the seller is under pressure. Keep the following considerations in mind:

every month a vacant house remains unsold represents considerable extra expense for the seller
if the sellers are divorcing, they may want to sell quickly
estate sales often yield a bargain in return for a prompt deal
Earnest Money
This is a deposit that you give when making an offer on a house. A seller is understandably suspicious of a written offer that is not accompanied by a cash deposit to show “good faith.” A real estate agent or an attorney usually holds the deposit, the amount of which varies from community to community. This will become part of your down payment.

Buyers: the Seller’s Response to Your Offer
You will have a binding contract if the seller, upon receiving your written offer, signs an acceptance just as it stands, unconditionally. The offer becomes a firm contract as soon as you are notified of acceptance. If the offer is rejected, that’s that – the sellers could not later change their minds and hold you to it.

If the seller likes everything except the sale price, or the proposed closing date, or the basement pool table you want left with the property, you may receive a written counteroffer including the changes the seller prefers. You are then free to accept it, reject it or even make your own counteroffer. For example, “We accept the counteroffer with the higher price, except that we still insist on having the pool table.”

Each time either party makes any change in the terms, the other side is free to accept, reject or counter again. The document becomes a binding contract only when one party finally signs an unconditional acceptance of the other side’s proposal.

Buyers: Withdrawing an Offer
Can you take back an offer? In most cases the answer is yes, right up until the moment it is accepted, or even in some cases, if you haven’t yet been notified of acceptance. If you do want to revoke your offer, be sure to do so only after consulting a lawyer who is experienced in real estate matters. You don’t want to lose your earnest money deposit or find yourself being sued for damages the seller may have suffered by relying on your actions.

Sellers: Calculating Your Net Proceeds
When an offer comes in, you can accept it exactly as it stands, refuse it (seldom a useful response) or make a counteroffer to the buyers with the changes you want. In evaluating a purchase offer, you should estimate the amount of cash you’ll walk away with when the transaction is complete. For example, when you’re presented with two offers at the same time, you may discover you’re better off accepting the one with the lower sale price if the other asks you to pay points to the buyer’s lending institution.

Once you have a specific proposal before you, calculating net proceeds becomes simple. From the proposed purchase price you can subtract the following costs:

payoff amount on present mortgage
any other liens (equity loan, judgments)
broker’s commission
legal costs of selling (attorney, escrow agent)
transfer taxes
unpaid property taxes and water and other utility bills
if required by the contract: cost of survey, termite inspection, buyer’s closing costs, repairs, etc.
Your present mortgage lender may maintain an escrow account into which you deposit money to be used for property tax bills and homeowner’s insurance. In that case, remember that you will receive a refund of money left in that account, which will add to your proceeds.

Sellers: Counteroffers
When you receive a purchase offer from a would-be buyer, remember that unless you accept it exactly as it stands, unconditionally, the buyer is free to walk away. Any change you make in a counteroffer puts you at risk of losing that chance to sell.

Who pays for what items is often determined by local custom. You can, however, negotiate with the buyer any agreement you want about who pays for the following costs:

termite inspection
survey
buyer’s closing costs
points paid to the buyer’s lender
buyer’s broker fees
repairs required by the lender
home protection policy
You may feel some of these costs are none of your business, but many buyers – particularly first-timer buyers – are short of cash. Helping them may be the best way to get your home sold.

Open House Schedule for Today

Open House Schedule for Today

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