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Wow! It is truly amazing just how revved up the real estate market seems. We are back to witnessing houses flying off the market, and in some cases, landing in a different stratosphere from where they started. Five-ten-fifteen offers per property are stacked up for most listings. I used to be able to gauge how much over asking a house will sell based on the number of bids, but even with two offers on a property the winner is paying at least ten percent over asking. It is hard to pin down pricing within this climate.
All this said, I am not discouraged for my buyers, and I don't want them to be either! Strategies, preparedness, relationships, and frame of mind will help us power through this and will in turn reap success. Right now there may not be an immediate satisfaction, but each showing, offer, and pre-inspection gets us closer to the right place. I was brought to tears by my lovely buyers who recently lost out on a house, yet they told me they were popping the champagne because they were so proud to have taken that first step. Way to look at things as a glass half full! Love it!
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I do think with the promise of interest rates lowering in the second half of the year will trigger a flood of new people entering the market and potentially drive prices even higher. Maybe that expectation is what's fueling buyers now to act knowing they can always refinance later.
Breaking it down by price range, the most robust segment is under $2M of course because there are so few houses and so many in search of their homes in that space. The high end is not sitting stagnant by any means, and well-priced homes are trading quickly with strong prices, BUT if you overprice from the beginning, the market will not reward you. You have heard me say it before, and it is still true. There are some stragglers sitting.
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Only 7 of the 12 Launcher Way homes are left for sale. Here is a sneak peek of upcoming listings.
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12 Durant Road, Wellesley
$1,295,000
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11 Roanoke Road, Wellesley
$2,895,000
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Our daughter Allie rode horses at Loveland Special Needs Horseback Riding for many years. It changed her life and ours. Every two years they host their biggest fundraiser which is a good old fashioned hoedown with a headlining band. This year it is the Spin Doctors. The top chefs from all over Boston attend serving their favorite dish. It is not to be missed and I would love to see you there! Here is a link with more information and how to get tickets. Thank you!
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Finally, for those who celebrate, wishing you a joyful Easter and a fantastic weekend ahead!
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