The Kim Perrotti Team - Melrose MA Real Estate

CHECK OUT KPT'S MARKET REPORT

CHECK OUT KPT'S MARKET REPORT FOR RECENT SALES

 

 

 

A LITTLE MAINTENANCE GOES A LONG WAY

 

 

A LITTLE MAINTENANCE GOES A LONG WAY

ENJOY YOUR HOME WHILE YOU'RE LIVING IN IT

 

 

 

 

If it ain’t broke don’t fix it. But if we are talking about that leaky faucet that only YOU know how to work correctly or that broken window that you have just gotten used to not using, FIX IT!

The most common thing our sellers say to us is “I wish I fixed that years ago”. Don’t let the little things in your house go just because you are used to dealing with them. You deserve to enjoy your home while you are living in it.  

Feel free to reach out to us if you need a handiman for a small job or a contractor referral for a larger job. Investing in your home is your greatest return on investment. 

 

 

 

 

 

FEATURED LISTING - 94 PORTER STREET, MELROSE MA

 

FEATURED LISTING - NEW TO MARKET

 

 

94 PORTER STREET, MELROSE MASSACHUSETTS 

 

 

 

 

 

 

VIDEO PREVIEW 94 PORTER STREET, MELROSE

 

CHECK OUT KPT's MARKET REPORT FOR OCTOBER SALES!

CHECK OUT KPT's OCTOBER SALES MARKET REPORT!

 

 

 

 

 

Sellers Have Incredible Leverage in Today’s Market

 

 

Sellers Have Incredible Leverage in Today’s Market

 

 

Sellers Have Incredible Leverage in Today’s Market | MyKCM

With mortgage rates climbing above 3% for the first time in months, serious buyers are more motivated than ever to find a home before the end of the year. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), puts it best, saying:

"Housing demand remains strong as buyers likely want to secure a home before mortgage rates increase even further next year."

But the sense of urgency they feel is complicated by the lack of homes for sale in today’s market. According to the latest Existing Home Sales Report from NAR:

“From one year ago, the inventory of unsold homes decreased 13%. . . .”

What Does This Mean for Sellers Today?

With buyers eager to purchase but so few homes available, sellers who list their houses this fall have a tremendous advantage – also known as leverage – when negotiating with buyers. That’s because, in today’s market, buyers want three things:

  • To be the winning bid on their dream home.
  • To buy before rates rise
  • To buy before prices go even higher.

Your Leverage Can Help You Negotiate Your Best Terms

These three buyer needs give homeowners a leg up when selling their house. You might already realize this leverage enables you to sell at a good price, but it also means you can negotiate the best terms to suit your needs.

And since buyer demand is still high, there’s a good chance you’ll get offers from multiple buyers who are willing to compete for your house. When you do, look closely at the terms of each offer to find out which one has the best perks for you.

If you have questions about what’s best for your situation, your trusted real estate advisor can help. They have the expertise and are skilled negotiators in all stages of the sales process.

Bottom Line

Today’s buyers are motivated to purchase a home this year, and that’s great news if you’re thinking of selling. Let’s connect today to discuss how much leverage you have as a seller in today’s market.

Does Your House Have What Buyers Want?

 

Does Your House Have What Buyers Want?

 

 

Does Your House Have What Buyers Want? | MyKCM

 

The rise in remote work is changing what many Americans want in their homes. Many companies are choosing to delay reopening or go remote full-time, and today’s buyers are looking for homes with more space to support their work needs.

 
As a seller, if you no longer need the extra room you have in your home, rest assured there are buyers who do.

 

 

Remote Work Is Here To Stay

Remote work remains a reality for many Americans. A recent poll from Garter, Inc. shows many organizations have not yet returned their offices:

 

“. . . 66% of organizations are delaying reopening their offices due to new COVID-19 variants.”
 
And it’s not just companies that are choosing to remain remote for the time being – workers are seeking more flexibility. According to research from PricewaterhouseCoopers, nearly one-fifth of employees want to be fully remote in the future. The study also finds that many people are leaving jobs to seek out remote work opportunities:
 
 
“Among employees looking for new jobs, almost one in ten say it’s because they moved away from the office while working remotely and don’t want to go back on-site.”

 

More Remote Work Means a Greater Need for Home Offices

That’s leading today’s buyers to prioritize finding homes with more space so they can comfortably work from home. The 2021 Home Design Trends Survey from the American Institute of Architects finds that 69% of surveyed individuals still want at least one office at home. However, it also shows that more people are looking for multiple spaces in their home for remote work and virtual meetings (see graph below):

 

Does Your House Have What Buyers Want? | MyKCM

 

What Does This Mean for You?

If your house has extra space that you no longer need, buyers are interested, and now may be the perfect time to sell.

Your trusted real estate advisor can help you highlight many of the most sought-after features in your listing, including home offices. On the other hand, if you have extra room without a purpose, consider staging it as an area where remote work can happen. Your agent can help you with this as well by evaluating and preparing your space for potential buyers. They’ll make recommendations for how to stage the room, where to draw the eye, and what other sellers are doing to make their houses stand out.

 

Bottom Line

With the continued rise in remote work, more buyers are looking for homes that can support multiple home offices. If you have extra room you’re no longer using, consider selling.

 

Let’s connect today to discuss the unique features in your house and how you can capitalize on any extra space to appeal to today’s buyers.

Two Reasons Why Waiting a Year to Buy Could Cost you

 

Two Reasons Why Waiting a Year To Buy Could Cost You

 

If you’re a renter with a desire to become a homeowner, or a homeowner who’s decided your current house no longer fits your needs, you may be hoping that waiting a year might mean better market conditions to purchase a home.

  

Two Reasons Why Waiting a Year To Buy Could Cost You | MyKCM

Let's shed some light on two questions you should ask yourself when determining if you should buy now, or wait!

 

Question 1:  What will home prices be like in 2022?

Three major housing industry entities project continued home price appreciation for 2022. Here are their forecasts:

 Using the average of the three projections (6.27%), a home that sells for $350,000 today would be valued at $371,945 by the end of next year. That means, if you delay, it could cost you more. As a prospective buyer, you could pay an additional $21,945 if you wait.

 Question 2:  Where will mortgage rates be by the end of 2022? 

 Today, the 30-year fixed mortgage rate is hovering near historic lows. However, most experts believe rates will rise as the economy continues to recover. Here are the forecasts for the fourth quarter of 2022 by the three major entities mentioned above:

That averages out to 3.7% if you include all three forecasts, and it’s nearly a full percentage point higher than today’s rates. Any increase in mortgage rates will increase your cost.

  

** What does it mean for you if both home values and mortgage rates rise? **

You’ll pay more in mortgage payments each month if both variables increase. Let’s assume you purchase a $350,000 home this year with a 30-year fixed-rate loan at 2.86% after making a 10% down payment. According to the mortgage calculator from Smart Asset, your monthly mortgage payment (including principal and interest payments, and estimated home insurance, taxes in your area, and other fees) would be approximately $1,899.That same home could cost $371,945 by the end of 2022, and the mortgage rate could be 3.7% (based on the industry forecasts mentioned above). Your monthly mortgage payment, after putting down 10%, would increase to $2,166.The difference in your monthly mortgage payment would be $267.  

Two Reasons Why Waiting a Year To Buy Could Cost You | MyKCM

That’s $3,204 more per year and $96,120 over the life of the loan.If you consider that purchasing now will also let you take advantage of the equity you’ll build up over the next calendar year, which is approximately $22,000 for a house with a similar value, then the total net worth increase you could gain from buying this year is over $118,000.

 

** Bottom Line **

When asking if you should buy a home, you probably think of the non-financial benefits of owning a home as a driving motivator. When asking when to buy, the financial benefits make it clear that doing so now is much more advantageous than waiting until next year.

Featured Listing - 72 Stratford Road Melrose

NEW TO MARKET

 

72 Stratford Road, Melrose MA

 

                Great up-size center entrance Colonial sitting in a premier Upper East Side location!                   

 
 
Schedule an exclusive showing with Lauren Maguire at Lauren@KPTRealtors.com or 617.750.5263 or stop by one of our Open Houses:
 
Thursday, September 23rd from 5:00 PM - 6:30 PM
Saturday, September 25th from 11:00 AM - 12:30 PM

 

 

 

 

 

 

 

 

Video Preview 72 Stratford Road, Melrose

 

 

 

 

 

September 2021 Insert

THE SEPTEMBER 2021 INSERT IS HERE!

 

Another busy month of sales in Melrose and

looking forward to seeing you on September 18 for our Fall Shred Event!

 

 

96 Grove Street, Melrose Massachusetts

 

FEATURED LISTING

 

96 Grove Street, Melrose Massachusetts 02176

 

  

  

 

 Video Preview 97 Grove Street

 

 

August Insert

THE AUGUST 2021 MARKET REPORT IS HERE!

 

Check out some of the latest Just Sold's in Melrose while enjoying an ice cream at Kennedy's Ice Cream Bar in Melrose!

Thank you Kennedy's for keeping us cool during the dog days of summer!

Also, don't forget to save the date for our annual Fall Shred Event:

Saturday, September 18th

 

 

 

 

 

Pricing Right

 

Selling Your House? Make Sure You Price It Right.

 

 
 
 
There’s no denying we’re in a sellers’ market. With low inventory and high buyer demand, homes today are selling above the asking price at a record rate. According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR):
  • Homes typically sell within 17 days (compared to 26 days one year ago).
  • The average home sold has five offers to pick from.
  • 54% of offers are over the asking price.

Because so many buyers are competing for so few homes, bidding wars are driving up home prices. According to an average of leading expert projections, existing home prices are expected to increase by 8.9% this year.

Yet even in today’s red-hot sellers’ market, it’s important to price your house right. While it may be tempting to price your house on the high side to capitalize on this trend, doing so could limit your house’s potential.

 

Why Pricing Your House Right Matters

Here’s the thing – a high price tag doesn’t mean you’re going to cash in big on the sale. While you may be trying to maximize your return, the tradeoff may be steep. A high list price is more likely to deter buyers, sit on the market longer, or require a price drop that can raise questions among prospective buyers.

Instead, focus on setting a price that’s fair. Real estate professionals know the value of your home. By pricing your house based on its current condition and similar homes that have recently sold in your area, your agent can help you set a price that’s realistic and obtainable – and that’s good news for you and for buyers.

 

Selling Your House? Make Sure You Price It Right. | MyKCM

 

When you price your house right, you increase your home’s visibility, which drives more buyers to your front door. The more buyers that tour your home, the more likely you’ll have a multi-offer scenario to create a bidding war. When multiple buyers compete for your house, that sets you up for a bigger win.

 

Bottom Line

When it comes to pricing your house, working with a local real estate professional is essential. Let’s connect so we can optimize your exposure, your timeline, and the return on your investment, too.