MA Hot Market? (by bet [MA]) Sep 16, 2020 11:07 AM|
MA Hot Market? (by 6x6 [TN]) Sep 16, 2020 12:21 PM
MA Hot Market? (by Johnny B. [MA]) Sep 16, 2020 2:09 PM
MA Hot Market? (by Jason [VA]) Sep 16, 2020 2:38 PM
MA Hot Market? (by Landlord ofthe Flies [TX]) Sep 16, 2020 2:55 PM
MA Hot Market? (by Ken [NY]) Sep 16, 2020 3:40 PM
MA Hot Market? (by MikeA [TX]) Sep 16, 2020 6:43 PM
MA Hot Market? (by RentsDue [MA]) Sep 16, 2020 8:07 PM
MA Hot Market? (by Steve [MA]) Sep 16, 2020 8:29 PM
MA Hot Market? (by bet [MA]) Sep 18, 2020 11:18 AM
MA Hot Market? (by 6x6 [TN]) Sep 18, 2020 3:12 PM
MA Hot Market? (by bet [MA]) Sep 20, 2020 9:25 AM
MA Hot Market? (by Viper [MA]) Sep 21, 2020 4:02 PM
MA Hot Market? (by bet [MA]) Sep 22, 2020 7:13 PM
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MA Hot Market? (by bet [MA]) Posted on: Sep 16, 2020 11:07 AM
Hey all. I am looking for your opinion as to what is going on in the selling market in MA. We are looking to sell and was wondering if the market is still hot as rumored. What is the best way to see what the market is doing? Thanks --73.227.xxx.xxx
MA Hot Market? (by 6x6 [TN]) Posted on: Sep 16, 2020 12:21 PM
Ask a realtor and look up recent sales and see how long they were on the market. --73.120.xx.xxx
MA Hot Market? (by Johnny B. [MA]) Posted on: Sep 16, 2020 2:09 PM
Still very hot with limited inventory from what I see. Also rates are still very low so buyers donít seem to mind paying more than properties are worth (In my opinion). --24.147.xx.xxx
MA Hot Market? (by Jason [VA]) Posted on: Sep 16, 2020 2:38 PM
I'm in VA, but yesterday I had my realtor begin marketing my house as "Coming soon" with viewings beginning on Friday. In less than 24 hours, I've had 21,000+ hits just on FB alone. So I'd say it's a pretty hot market. --73.177.xxx.xx
MA Hot Market? (by Landlord ofthe Flies [TX]) Posted on: Sep 16, 2020 2:55 PM
Also look up number of houses in your market area or neighborhood.
Next time it's vacant, there's no harm in putting the house up for sale at a price you want and see if someone bites. Give it 2-3 months and on the last month, offer it for rent. See which one wins.
I'd only try this with a vacancy that's fixed up to sell. Just don't over improve it in case you decide to rent it instead. --108.69.xxx.xxx
MA Hot Market? (by Ken [NY]) Posted on: Sep 16, 2020 3:40 PM
go on realtor.com and go to your city and take a look at what is available,a lot of houses in my area are showing as pending and i am in a hot market,i bet your area will be similar.A good time to get rid of whatever you dont want to keep --104.229.xxx.xxx
MA Hot Market? (by MikeA [TX]) Posted on: Sep 16, 2020 6:43 PM
Typically, one of the Universities has a "real estate center" that pulls together state or regional statistics and then a few of the Real Estate office will share them or may take it down to a City. Here in my area, Texas A&M does it at a State level and one of the bigger Real Estate Offices in town does it for the City.
The primary stat used to determine if it's a buyers market VS a sellers market is the months of Inventory in the MLS at different price ranges. Usually, 6 months inventory is considered stable, less it's a sellers market, more it's a buyers market. Ours have been running around 2 months inventory for all price categories up to $.5M (under $70K is less than a month). I've only seen it drop below 3 month one other time in 30 years of watching.
There are a couple of other indicators to look at including: sales price/listing price (higher=sellers market), foreclosure rate (lower=sellers market). Some also argue that new housing starts are an indicator of the future shifts but I'm not really convinced.
Ask your Real estate sales office for the numbers for your area. --64.130.xx.xxx
MA Hot Market? (by RentsDue [MA]) Posted on: Sep 16, 2020 8:07 PM
Single families are still hot, multis are not. --68.118.xxx.xx
MA Hot Market? (by Steve [MA]) Posted on: Sep 16, 2020 8:29 PM
Bet, in my area there is less than a month's inventory for SFDs. I can't believe some of the prices people are paying for SFDs even those that need major updating.
1-3 unit multis that could be owner occupied are still selling very well & for ridiculous prices. Commercial residential properties (4+ units) are selling much slower & at more realistic prices. Of course there are a few fools willing to pay way too much for these commercial residential properties. Non residential commercial properties especially those that have been impacted by Governor Faker's Covid 19 restrictions are selling much slower than in previous years. --71.174.xxx.xx
MA Hot Market? (by bet [MA]) Posted on: Sep 18, 2020 11:18 AM
My multis are not selling. Yes they are good houses. So not sure if its the RE agent or the market. They are in move in condition, maybe not sparkling but move in. One thing I have run to before is if they are occupied. So thinking I will pull and then empty and try again in the spring. Interest rates should stay low. According to agent, she is showing the houses to people that haven't even qualified which is a waste of time, and the appraisals are not being supported to the price of house and people looking ( buyers) are not handy people, 1st time buyers so a lot wrong here. The houses still make a good profit even at the asking price, better profit when we 1st bought. We have a plan B so no problem but would be nice to unload some houses. I an not sure we got the right agent. My agent that passed was the best, she could sell ice to Eskimos, I miss her.
MA Hot Market? (by 6x6 [TN]) Posted on: Sep 18, 2020 3:12 PM
Why is your profit less now then when you first bought? --73.120.xx.xxx
MA Hot Market? (by bet [MA]) Posted on: Sep 20, 2020 9:25 AM
by 6x6, due to rent increases it has taken us a while to get more and more profit out of a 2 family in the 15 yrs we have owned it. We are making more now than when we 1st bought the house. But for new buyers they would be making more money now than when we 1st bought the house. I am seeing lazy people not wanting or knowing how to do the work. Both houses, it would take nothing to turn them around and put in new tenants. But for an owner occupied maybe you want a brand new fancy kitchen, big bathrooms etc. Both houses are 1900 year, 2 family with hardwood floors, modern modest kitchen, smaller bedrooms etc. We would have jumped at these houses when we were 1st buying. --73.227.xxx.xxx
MA Hot Market? (by Viper [MA]) Posted on: Sep 21, 2020 4:02 PM
In my area ~25 min south of Boston market is insane. Some sale prices are almost double than the last peak for old buildings. Rents are much higher than back than so maybe the math works out but I can't believe the amount people are asking right now. --24.218.xxx.xxx
MA Hot Market? (by bet [MA]) Posted on: Sep 22, 2020 7:13 PM
I figured the market is right, I just got the wrong agent. When I asked why them why my properties were not on their face book and website, their response was to cancel my listing! --73.227.xxx.xxx
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