I thought it was time to update you on the real estate market and what we are experiencing during this historic time.
To be quite honest, my personal experience is that we are very busy. I am working around the clock. There are showings at many properties and in some cases multiple offers still. My colleagues at other firms and in different states are all reporting the same thing.
I continue to put listings on the market and have activity. Each showing is done carefully with gloves and hand sanitizers and social distancing and it is working.
Will real estate carry the economy?
· Many people would rather put their money into real estate now rather than the stock market.
· Rates are incredibly low and giving people much more buying power.
· Families from Boston are anxious to move to the suburbs. They are searching for more elbow room and a yard for their kids to play.
As I write this there are only 60 HOUSES on the market in Wellesley, and this is only a TWO MONTH supply of inventory. A six month inventory is considered a healthy market. This is the peak of our selling season and there are not enough houses for buyers. Do we expect a crash like 2008? In 2008 we had 150 houses on……. in essence then, there isn’t anything to crash right now.
People still need homes, they need a place to live and invest. We are confident that this trend we are seeing will continue. Our area is one of the best places to live in the country and that will never change, making buying in metro-west the right choice.
In summary, so far home sales are still occurring.There will most likely be a short pause of course. It’s not that demand has diminished, it’s just that demand may be postponed until things stabilize.
I am here if you have any questions or concerns at all. I will also try and send out a weekly update.
I am honored to be mentioned in this week's Wellesley Townsmen. Thank you for all your support in 2019, we are here for all of your real estate needs in 2020. Let's make it another great year!
With the holidays quickly approaching we wanted to share some of our favorite recipes. This recipe for sugar cookies is a tradition in our family. What are some of your favorite recipes? Do you have any traditional recipes? Share them!
Dad's Favorite Sugar Cookies
1 cup Butter
1 cup Sugar
1 cup Confectioner's Sugar
1 cup Oil
2 tsp. Vanilla
4 1/4 cups Flour
1 tsp. Baking soda
1 tsp. Cream of Tartar
1/2 tsp. Salt
Directions:In a large bowl cream butter and sugars.
Beat in eggs one at a time, until mixture is light.
Add oil and vanilla.
Beat until well blended.
In a separate bowl combine flour, baking soda, cream of tartar and salt.
Gradually add dry ingredients to the creamed mixture and beat until blended.
Wrap dough and chill for several hours.
Roll into balls and place on greased cookie sheet.
Flatten dough with the bottom of a glass dipped in colored sugar.
Bake at 325 degrees for 8 to 10 minutes, until just set.
Let stand on cookie sheet before two to three minutes before removing.
Makes about seven dozen)
Source: Nancy Platts via The Wellesley Cookie Exchange Cookbook
The Wall Street Journal published an article this week that I found so interesting, I wanted to share it. Do you think people choosing to stay longer in their current homes has contributed to a housing supply shortage in our area? Let me know you thoughts!