Home & Real Estate Review

If it’s March, we are on the cusp of another incredible real estate market.

Each year, we look in-depth at the housing market and geographic areas; simultaneously, we explain what attracts buyers and motivates sellers.

This year may be a bit more elusive due to inventory and pricing concerns, but we take an educated guess at how searches and sales may play out as we enter the spring and summer seasons.

From discussions with leading agents and agencies throughout New England, we’ve learned that demand remains strong—in specific sectors—even with the return of heightened mortgage rates. At the highest range of affluent homes, investors are showing patience; many have watched homes in the $10-$40 million range sit idle, only to take advantage of deep discounts by owners feeling they better accept what is offered. Recently, in a private, undisclosed sale of a prestigious property, a high-profile buyer watched his targeted property be reduced by $10 million, allowing him to scoop up the prize and gain valuable equity at closing.

In this issue, we look at what homes are selling and how they are being marketed in a highly competitive arena. In review, there has been a dramatic consolidation of agencies, real estate salespeople, and brokers, making moves and focusing on new home construction.

At the other end of the spectrum, the lowest-priced homes, appraised in the neighborhood of $300,000, never make it to the Multiple Listing Service. Buyers, investors, and speculators have cash and little concern about the condition. They know if they delay, the chance of missing an opportunity grows by the hour.

In this issue, we look at what homes are selling and how they are being marketed in a highly competitive arena. In review, there has been a dramatic consolidation of agencies, real estate salespeople, and brokers, making moves and focusing on new home construction.

King of all properties seeming to hold reign are those located on the water along the coast. Prices are holding strong as we approach better weather; they may actually begin to increase if we start to witness some easing in financial markets.

Another interesting topic we explore is the marketing of real estate. The debate of print vs. digital is explained from a scientific point of view; and while everyone has an opinion about this hotly contested issue, the evidence is clear; both work hand in hand, and rather than compete, the smart money knows how to incorporate both methods for attracting clients and turning them into buyers.

We hope you enjoy our annual review and take away some knowledge that will aid in your search for a new home or help those in the real estate business.

And be sure to stay tuned; we expect more news to come out in April—you don’t want to miss it! H